Fidelity National Financial (FNF) 10-Q5 Aug 222022 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2022	Jul. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-32630
Entity Registrant Name	FIDELITY NATIONAL FINANCIAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	16-1725106
Entity Address, Address Line One	601 Riverside Avenue
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32204
City Area Code	904
Local Phone Number	854-8100
Title of 12(b) Security	FNF Common Stock, $0.0001 par value
Trading Symbol	FNF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		276,317,189
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001331875
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Investments:
Fixed maturity securities available for sale, at fair value, at June 30, 2022 and December 31, 2021, at an amortized cost of $33,836 and $30,705, respectively, net of allowance for credit losses of $11 and $8, respectively, and includes pledged fixed maturity securities of $448 and $460, respectively, related to secured trust deposits	$ 30,432	$ 31,990
Derivative investments	145	816
Mortgage loans, net of allowance for credit losses of $35 and $31 at June 30, 2022 and December 31, 2021, respectively	4,437	3,749
Investments in unconsolidated affiliates	2,835	2,486
Other long-term investments	627	579
Short-term investments, at June 30, 2022 and December 31, 2021 includes pledged short-term investments of $0 and $1, respectively, related to secured trust deposits	2,588	491
Total investments	42,973	42,775
Cash and cash equivalents, at June 30, 2022 and December 31, 2021 includes $586 and $480, respectively, of pledged cash related to secured trust deposits	2,426	4,360
Trade and notes receivables, net of allowance for credit losses of $34 and $32 at June 30, 2022 and December 31, 2021, respectively	616	557
Reinsurance recoverable, net of allowance for credit losses of $20 at March 31, 2022 and December 31, 2021	4,237	3,738
Goodwill	4,538	4,539
Prepaid expenses and other assets	2,004	1,203
Lease assets	390	376
Other intangible assets, net	3,461	2,557
Title plants	400	400
Property and equipment, net	185	185
Total assets	61,230	60,690
Liabilities:
Contractholder funds	37,707	35,525
Future policy benefits	5,177	4,732
Accounts payable and accrued liabilities	2,605	2,696
Outstanding debt	3,094	3,096
Reserve for title claim losses	1,843	1,883
Funds withheld for reinsurance liabilities	2,277	1,676
Secured trust deposits	1,173	934
Lease liabilities	429	414
Income taxes payable	113	72
Deferred tax liability	66	205
Total liabilities	54,484	51,233
Equity:
FNF common stock, $0.0001 par value; authorized 600,000,000 shares as of June 30, 2022 and December 31, 2021; outstanding of 276,949,217 and 283,778,574 as of June 30, 2022 and December 31, 2021, respectively, and issued of 325,730,482 and 325,486,429 as of June 30, 2022 and December 31, 2021, respectively	0	0
Preferred stock, $0.0001 par value; authorized 50,000,000 shares; issued and outstanding, none	0	0
Additional paid-in capital	5,843	5,811
Retained earnings	4,901	4,369
Accumulated other comprehensive (loss) earnings	(2,190)	779
Less: Treasury stock, 48,781,265 shares and 41,707,855 shares as of June 30, 2022 and December 31, 2021, respectively, at cost	(1,851)	(1,545)
Total Fidelity National Financial, Inc. shareholders’ equity	6,703	9,414
Non-controlling interests	43	43
Total equity	6,746	9,457
Total liabilities and equity	61,230	60,690
Preferred securities
Investments:
Securities, at fair value	1,154	1,401
Equity securities
Investments:
Securities, at fair value	$ 755	$ 1,263

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Fixed maturity securities, available-for-sale, amortized cost	$ 33,836	$ 30,705
Fixed maturity securities, available-for-sale securities, allowance for credit losses	11	8
Available-for-sale securities, pledged securities, secured trust deposits	448	460
Allowance for credit loss	35	31
Short-term investments, pledged, secured trust deposits	0	1
Cash, pledged, secured trust deposits	586	480
Allowance for doubtful accounts, premiums and other receivables	34	32
Expected credit losses on reinsurance recoverable	$ 19	$ 20
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares, outstanding (in shares)	276,949,217	283,778,574
Common stock, shares, issued (in shares)	325,730,482	325,486,429
Preferred stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock (in shares)	48,781,265	41,707,855

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Direct title insurance premiums	$ 859	$ 904	$ 1,626	$ 1,650
Agency title insurance premiums	1,203	1,256	2,302	2,314
Escrow, title-related and other fees	782	948	2,072	1,799
Interest and investment income	463	514	941	916
Recognized gains and losses, net	(676)	232	(1,145)	275
Total revenues	2,631	3,854	5,796	6,954
Expenses:
Personnel costs	839	890	1,662	1,702
Agent commissions	930	970	1,774	1,777
Other operating expenses	457	476	899	934
Benefits and other changes in policy reserves	(418)	575	(210)	549
Depreciation and amortization	161	105	343	288
Provision for title claim losses	93	97	177	178
Interest expense	31	28	61	56
Total expenses	2,093	3,141	4,706	5,484
Earnings from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	538	713	1,090	1,470
Income tax expense	164	176	319	342
Earnings before equity in earnings of unconsolidated affiliates	374	537	771	1,128
Equity in earnings of unconsolidated affiliates	14	14	16	27
Net earnings from continuing operations	388	551	787	1,155
Net earnings from discontinued operations, net of tax	0	6	0	11
Net earnings	388	557	787	1,166
Less: Net earnings attributable to non-controlling interests	6	5	8	9
Net earnings attributable to Fidelity National Financial, Inc. common shareholders	$ 382	$ 552	$ 779	$ 1,157
Basic
Net earnings per share from continuing operations attributable to common shareholders (in usd per share)	$ 1.37	$ 1.91	$ 2.79	$ 3.99
Net earnings per share from discontinued operations attributable to common shareholders (in usd per share)	0	0.02	0	0.04
Net earnings per share attributable to common shareholders, basic (in usd per share)	1.37	1.93	2.79	4.03
Diluted
Net earnings per share from continuing operations attributable to common shareholders (in usd per share)	1.37	1.90	2.77	3.96
Net earnings per share from discontinued operations attributable to common shareholders (in usd per share)	0	0.02	0	0.04
Net earnings per share attributable to common shareholders, diluted (in usd per share)	$ 1.37	$ 1.92	$ 2.77	$ 4
Weighted average common shares outstanding - basic (in shares)	278	286	279	287
Weighted average common shares outstanding - diluted (in shares)	279	288	281	289

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2022		Jun. 30, 2021		Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings		$ 388		$ 557		$ 787	$ 1,166
Other comprehensive (loss) earnings:
Unrealized (loss) gain on investments and other financial instruments, net of adjustments to intangible assets and unearned revenue (excluding investments in unconsolidated affiliates)	[1]	(1,509)		377		(3,038)	(168)
Unrealized gain on investments in unconsolidated affiliates	[2]	0		0		7	9
Unrealized (loss) gain on foreign currency translation	[3]	(10)		2		(12)	0
Reclassification adjustments for change in unrealized gains and losses included in net earnings		41	[4]	(5)	[4]	74	(51)
Other comprehensive (loss) earnings		(1,478)		374		(2,969)	(210)
Comprehensive (loss) earnings		(1,090)		931		(2,182)	956
Less: Comprehensive earnings attributable to non-controlling interests		6		5		8	9
Comprehensive (loss) earnings attributable to Fidelity National Financial, Inc. common shareholders		$ (1,096)		$ 926		$ (2,190)	$ 947

[1]Net of income tax (benefit) expense of $(398) million and $100 million for the three months ended June 30, 2022 and 2021, respectively, and $(689) million and $(46) million for the six months periods ended June 30, 2022 and 2021, respectively.[2]Net of income tax expense of $2 million and $3 million for the six months ended June 30, 2022 and 2021, respectively.[3]Net of income tax (benefit) expense of less than $(1) million and $1 million for the three months ended June 30, 2022 and 2021, respectively, and less than $(1) million for the six months ended June 30, 2022 and 2021.[4]Net of income tax (benefit) expense of $(11) million and $1 million for the three-month periods June 30, 2022 and 2021, respectively, and $(19) million and $14 million for the six-month periods ended June 30, 2022 and 2021, respectively.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Unrealized (loss) gain on investments and other financial instruments, tax (benefit) expense	$ (398)	$ 100	$ (689)	$ (46)
Unrealized gain on investments in unconsolidated affiliates, tax expense	2	3
Unrealized (loss) gain on foreign currency translation, tax (benefit) expense	(1)	1		(1)
Reclassification adjustments for change in unrealized gains and losses included in net earnings, tax (benefit) expense	$ (11)	$ 1	$ (19)	$ 14

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Millions, $ in Millions		Total		Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Earnings (Loss)	Treasury Stock	Non-controlling Interest
Beginning balance (in shares) at Dec. 31, 2020				323
Beginning balance, Treasury stock (in shares) at Dec. 31, 2020								31
Beginning balance at Dec. 31, 2020		$ 8,392		$ 0	$ 5,720	$ 2,394	$ 1,304	$ (1,067)	$ 41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)				1
Exercise of stock options		30			30
Purchase of incremental share in consolidated subsidiaries		1							1
Treasury stock repurchased (in shares)								7
Treasury stock repurchased		(295)						$ (295)
Other comprehensive earnings/loss - unrealized gain/loss on investments and other financial instruments		(168)					(168)
Other comprehensive earnings - unrealized gain on investments in unconsolidated affiliates		9	[1]				9
Other comprehensive loss - unrealized loss on foreign currency translation	[2]	0
Reclassification adjustments for change in unrealized gains and losses included in net earnings		(51)					(51)
Stock-based compensation		21			21
Dividends declared, per common share		(208)				(208)
Subsidiary dividends declared to non-controlling interests		(9)							(9)
Net earnings		1,166				1,157			9
Ending balance (in shares) at Jun. 30, 2021				324
Ending balance, Treasury stock (in shares) at Jun. 30, 2021								38
Ending balance at Jun. 30, 2021		8,888		$ 0	5,771	3,343	1,094	$ (1,362)	42
Beginning balance (in shares) at Mar. 31, 2021				324
Beginning balance, Treasury stock (in shares) at Mar. 31, 2021								34
Beginning balance at Mar. 31, 2021		8,226		$ 0	5,752	2,893	720	$ (1,179)	40
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options		9			9
Purchase of incremental share in consolidated subsidiaries		1							1
Treasury stock repurchased (in shares)								4
Treasury stock repurchased		(183)						$ (183)
Other comprehensive earnings/loss - unrealized gain/loss on investments and other financial instruments		377					377
Other comprehensive earnings - unrealized gain on investments in unconsolidated affiliates	[1]	0
Other comprehensive loss - unrealized loss on foreign currency translation		2	[2]				2
Reclassification adjustments for change in unrealized gains and losses included in net earnings		(5)	[3]				(5)
Stock-based compensation		10			10
Dividends declared, per common share		(102)				(102)
Subsidiary dividends declared to non-controlling interests		(4)							(4)
Net earnings		557				552			5
Ending balance (in shares) at Jun. 30, 2021				324
Ending balance, Treasury stock (in shares) at Jun. 30, 2021								38
Ending balance at Jun. 30, 2021		8,888		$ 0	5,771	3,343	1,094	$ (1,362)	42
Beginning balance (in shares) at Dec. 31, 2021				325
Beginning balance, Treasury stock (in shares) at Dec. 31, 2021								42
Beginning balance at Dec. 31, 2021		9,457		$ 0	5,811	4,369	779	$ (1,545)	43
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)				1
Exercise of stock options		$ 8			8
Treasury stock repurchased (in shares)		7
Treasury stock repurchased		$ (306)
Other comprehensive earnings/loss - unrealized gain/loss on investments and other financial instruments		(3,038)					(3,038)
Other comprehensive earnings - unrealized gain on investments in unconsolidated affiliates		7	[1]				7
Other comprehensive loss - unrealized loss on foreign currency translation		(12)	[2]				(12)
Reclassification adjustments for change in unrealized gains and losses included in net earnings		74					74
Stock-based compensation		24			24
Dividends declared, per common share		(247)				(247)
Subsidiary dividends declared to non-controlling interests		(8)							(8)
Net earnings		787				779			8
Ending balance (in shares) at Jun. 30, 2022				326
Ending balance, Treasury stock (in shares) at Jun. 30, 2022								49
Ending balance at Jun. 30, 2022		6,746		$ 0	5,843	4,901	(2,190)	$ (1,851)	43
Beginning balance (in shares) at Mar. 31, 2022				326
Beginning balance, Treasury stock (in shares) at Mar. 31, 2022								45
Beginning balance at Mar. 31, 2022		8,118		$ 0	5,826	4,642	(712)	$ (1,679)	41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options		6			6
Treasury stock repurchased (in shares)								4
Treasury stock repurchased		(172)						$ (172)
Other comprehensive earnings/loss - unrealized gain/loss on investments and other financial instruments		(1,509)					(1,509)
Other comprehensive earnings - unrealized gain on investments in unconsolidated affiliates	[1]	0
Other comprehensive loss - unrealized loss on foreign currency translation		(10)	[2]				(10)
Reclassification adjustments for change in unrealized gains and losses included in net earnings		41	[3]				41
Stock-based compensation		11			11
Dividends declared, per common share		(123)				(123)
Subsidiary dividends declared to non-controlling interests		(4)							(4)
Net earnings		388				382			6
Ending balance (in shares) at Jun. 30, 2022				326
Ending balance, Treasury stock (in shares) at Jun. 30, 2022								49
Ending balance at Jun. 30, 2022		$ 6,746		$ 0	$ 5,843	$ 4,901	$ (2,190)	$ (1,851)	$ 43

[1]Net of income tax expense of $2 million and $3 million for the six months ended June 30, 2022 and 2021, respectively.[2]Net of income tax (benefit) expense of less than $(1) million and $1 million for the three months ended June 30, 2022 and 2021, respectively, and less than $(1) million for the six months ended June 30, 2022 and 2021.[3]Net of income tax (benefit) expense of $(11) million and $1 million for the three-month periods June 30, 2022 and 2021, respectively, and $(19) million and $14 million for the six-month periods ended June 30, 2022 and 2021, respectively.

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividend per common share (in dollars per share)	$ 0.44	$ 0.36	$ 0.88	$ 0.72

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net earnings	$ 787	$ 1,166
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	343	288
Equity in earnings of unconsolidated affiliates	(16)	(27)
Gain on sales of investments and other assets and asset impairments, net	71	(259)
Loss on the sale of businesses	0	14
Interest credited/index credits to contractholder account balances	(862)	476
Deferred policy acquisition costs and deferred sales inducements	(371)	(303)
Charges assessed to contractholders for mortality and admin	(102)	(88)
Non-cash lease costs	70	70
Operating lease payments	(75)	(76)
Distributions from unconsolidated affiliates, return on investment	38	16
Stock-based compensation cost	24	21
Change in NAV of limited partnerships, net	(172)	(241)
Change in valuation of derivatives, equity and preferred securities, net	1,072	(17)
Changes in assets and liabilities, net of effects from acquisitions:
Change in insurance recoverable	109	72
Change in future policy benefits	445	(112)
Change in funds withheld from reinsurers	617	461
Net decrease in trade receivables	27	(58)
Net (decrease) increase in reserve for title claim losses	(39)	54
Net change in income taxes	169	(86)
Net change in other assets and other liabilities	(640)	145
Net cash provided by operating activities	1,495	1,516
Cash flows from investing activities:
Proceeds from sales, calls and maturities of investment securities	3,541	3,334
Proceeds from sales of property and equipment	5	3
Additions to property and equipment and capitalized software	(77)	(54)
Purchases of investment securities	(6,958)	(6,226)
Net (purchases of) proceeds from sales and maturities of short-term investment securities	(1,644)	334
Additions to notes receivable	(94)	(11)
Collections of notes receivable	4	3
Acquisitions and dispositions	(20)	(52)
Additional investments in unconsolidated affiliates	(741)	(587)
Distributions from unconsolidated affiliates, return of investment	93	44
Net other investing activities	0	94
Net cash used in investing activities	(5,891)	(3,118)
Cash flows from financing activities:
Dividends paid	(245)	(206)
Subsidiary dividends paid to non-controlling interest shareholders	(8)	(9)
Exercise of stock options	8	30
Net change in secured trust deposits	239	219
Additional investment in consolidated subsidiaries	0	1
Payment of contingent consideration for prior period acquisitions	(3)	(2)
Contractholder account deposits	4,513	4,190
Contractholder account withdrawals	(1,744)	(1,575)
Purchases of treasury stock	(298)	(294)
Net cash provided by financing activities	2,462	2,354
Net (decrease) increase in cash and cash equivalents	(1,934)	752
Cash and cash equivalents at beginning of period	4,360	2,719
Cash and cash equivalents at end of period	$ 2,426	$ 3,471

Basis of Financial Statements

Basis of Financial Statements	6 Months Ended
Basis of Financial Statements	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Statements	Basis of Financial Statements The financial information in this report presented for interim periods is unaudited and includes the accounts of Fidelity National Financial, Inc. and its subsidiaries (collectively, “we,” “us,” “our,” the "Company" or “FNF”) prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All adjustments made were of a normal, recurring nature. This report should be read in conjunction with our Annual Report on Form 10-K (our "Annual Report") for the year ended December 31, 2021. Description of the Business We are a leading provider of (i) title insurance, escrow and other title-related services, including loan sub-servicing, valuations, default services and home warranty products, (ii) technology to the real estate and mortgage industries and (iii) annuity and life insurance products. FNF is one of the nation’s largest title insurance companies operating through its title insurance underwriters - Fidelity National Title Insurance Company ("FNTIC"), Chicago Title Insurance Company ("Chicago Title"), Commonwealth Land Title Insurance Company ("Commonwealth Title"), Alamo Title Insurance and National Title Insurance of New York Inc. - which collectively issue more title insurance policies than any other title company in the United States. Through our subsidiary, ServiceLink Holdings, LLC ("ServiceLink"), we provide mortgage transaction services, including title-related services and facilitation of production and management of mortgage loans. We are also a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through our wholly-owned subsidiary, F&G Annuities & Life ("F&G"). For information about our reportable segments refe r to Note H Segment Information . Recent Developments Note Receivable from Cannae In November 2017, in conjunction with the split-off of our former portfolio company investments into a separate company, Cannae Holdings, Inc. ("Cannae"), we issued to Cannae a revolver note, which we and Cannae amended and restated on May 12, 2022 (as amended and restated, the "Cannae Revolver"). The Cannae Revolver in the aggregate principal amount of up to $100 million accrues interest quarterly at the Adjusted Term SOFR Rate, as defined in the Amended and Restated Revolver Note, plus 450 basis points and matures on November 17, 2025. The maturity date is automatically extended for additional five During the three and six months ended June 30, 2022, Cannae borrowed approximately $85 million under the Cannae Revolver. We account for the Cannae Revolver as a financing receivable. Interest income is recorded ratably in periods in which principal is outstanding. Uncollectible financing receivables are written off or impaired when, based on all available information, it is probable that a loss has occurred. F&G Distribution On March 14, 2022, our Board of Directors approved a dividend to our shareholders, on a pro rata basis, of 15% of the common stock of F&G (the "F&G Distribution"). We intend to retain control of F&G through our approximate 85% ownership stake. The proposed F&G Distribution is intended to be structured as a taxable dividend to our shareholders and is subject to various conditions including the final approval of our Board of Directors, the effectiveness of appropriate filings with the U.S Securities and Exchange Commission (the "SEC"), and any applicable regulatory approvals. The record date and distribution settlement date will be determined by our Board of Directors prior to the distribution. Upon completion of the F&G Distribution, our shareholders as of the record date are expected to own stock in both publicly traded companies. On July 20, 2022, F&G filed its confidential Form 10 registration statement with the SEC. The proposed F&G Distribution is targeted to be completed early in the fourth quarter of 2022. However, there can be no assurance regarding the timeframe for completing the F&G Distribution or that the conditions of the F&G Distribution will be met. Income Tax Income tax expense was $164 million and $176 million in the three months ended June 30, 2022 and 2021, respectively, and $319 million and $342 million in the six months ended June 30, 2022 and 2021, respectively. Income tax expense as a percentage of earnings before income taxes was 30% and 25% in the three months periods ended June 30, 2022 and 2021, respectively, and 29% and 23% in the six months ended June 30, 2022 and 2021, respectively. The increase in income tax expense as a percentage of earnings before taxes in the three months ended June 30, 2022 as compared to the corresponding period in 2021 is primarily attributable to the recording of a valuation allowance in the 2022 period for tax benefits associated with deferred tax assets related to recognized valuation losses on equity securities for which it is more likely than not that we will not be able to realize for tax purposes. The increase in income tax expense as a percentage of earnings before taxes in the six months ended June 30, 2022 as compared to the corresponding period in 2021 is primarily attributable to the recording of valuation allowances in the 2022 period for tax benefits associated with deferred tax assets related to realized losses on the past sales of discontinued operations and the aforementioned recognized valuation losses on equity securities for which it is more likely than not that we will not be able to realize for tax purposes. Earnings Per Share Basic earnings per share, as presented on the Condensed Consolidated Statement of Earnings, is computed by dividing net earnings available to common shareholders in a given period by the weighted average number of common shares outstanding during such period. In periods when earnings are positive, diluted earnings per share is calculated by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding plus assumed conversions of potentially dilutive securities. For periods when we recognize a net loss, diluted loss per share is equal to basic loss per share as the impact of assumed conversions of potentially dilutive securities is considered to be antidilutive. We have granted certain stock options, shares of restricted stock and certain other convertible share based payments, which have been treated as common share equivalents for purposes of calculating diluted earnings per share for periods in which positive earnings have been reported. Options or other instruments, which provide the ability to purchase shares of our common stock that are antidilutive, are excluded from the computation of diluted earnings per share. There were fewer than 1 million antidilutive instruments outstanding during the three and six months ended June 30, 2022 and 2021. Recent Accounting Pronouncements Pronouncements Not Yet Adopted In August 2018, the FASB issued ASU 2018-12, Financial Services-Insurance (Topic 944), Targeted Improvements to the Accounting for Long-Duration Contracts, as clarified and amended by ASU 2019-09, Financial Services-Insurance: Effective Date and ASU 2020-11, Financial Services-Insurance: Effective Date and Early Application, effective for fiscal years beginning after December 15, 2022 including interim periods within those fiscal years. This update introduced the following requirements: assumptions used to measure cash flows for traditional and limited-payment contracts must be reviewed at least annually with the effect of changes in those assumptions being recognized in the statement of operations; the discount rate applied to measure the liability for future policy benefits and limited-payment contracts must be updated at each reporting date with the effect of changes in the rate being recognized in other comprehensive income; market risk benefits associated with deposit contracts must be measured at fair value, with the effect of the change in the fair value attributable to a change in the instrument-specific credit risk being recognized in other comprehensive income; deferred acquisition costs are no longer required to be amortized in proportion to premiums, gross profits, or gross margins; instead, those balances must be amortized on a constant level basis over the expected term of the related contracts; deferred acquisition costs must be written off for unexpected contract terminations; and disaggregated rollforwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities and deferred acquisition costs, as well as information about significant inputs, judgments, assumptions, and methods used in measurement are required to be disclosed. The amendments in this ASU may be early adopted as of the beginning of an annual reporting period for which financial statements have not yet been issued, including interim financial statements. We have identified specific areas that will be impacted by the new guidance. This guidance will bring significant changes to how we account for certain insurance and annuity products within our business and expand disclosures. As part of the implementation process, to date our progress includes, but is not limited to the following: identifying and documenting contracts and contract features in scope of the guidance; identifying actuarial models, systems, and processes to be updated; building models; evaluating and finalizing key accounting policies; evaluating transition requirements; and establishing and documenting appropriate internal controls. We will not early adopt this standard and have selected the full retrospective transition method, which requires the new guidance be applied as of the beginning of the earliest period presented or January 1, 2021, referred to as the transition date. The impacts of this guidance to the consolidated financial statements are subject to market conditions, such as interest rate levels. We have begun to generate and review results for historical periods from our actuarial models which will allow us to quantify the impact to our consolidated financial statements. In March 2022, the FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the Troubled Debt Restructuring ("TDR") recognition and measurement guidance for creditors and, instead, require that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendments also enhance existing disclosure requirements and introduce new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. Additionally, these amendments require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases within the scope of Subtopic 326-20. The guidance is effective for entities that have adopted ASU 2016-13 Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326) for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, though early adoption is permitted. We do not currently expect to early adopt this standard and are in the process of assessing this standard and its impact on our accounting and disclosures. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this update affect all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction and clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. Additionally, the amendments require the following disclosures for equity securities subject to contractual sale restrictions: the fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, the nature and remaining duration of the restriction(s), and the circumstances that could cause a lapse in the restriction(s). The amendments in this update do not change the principles of fair value measurement, rather, they clarify those principles when measuring the fair value of an equity security subject to a contractual sale restriction and improve current GAAP by reducing diversity in practice, reducing the cost and complexity in measuring fair value, and increasing comparability of financial information across reporting entities that hold those investments. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, though early adoption is permitted. We do not currently expect to early adopt this standard and are in the process of assessing this standard and its impact on our accounting and disclosures.

Summary of Reserve for Title Cl

Summary of Reserve for Title Claim Losses	6 Months Ended
Summary of Reserve for Title Claim Losses	Jun. 30, 2022
Insurance [Abstract]
Summary of Reserve for Title Claim Losses	Summary of Reserve for Title Claim Losses A summary of the reserve for title claim losses follows: Six months ended June 30, 2022 2021 (Dollars in millions) Beginning balance $ 1,883 $ 1,623 Change in insurance recoverable (108) (22) Claim loss provision related to: Current year 177 178 Total title claim loss provision 177 178 Claims paid, net of recoupments related to: Current year (7) (2) Prior years (102) (100) Total title claims paid, net of recoupments (109) (102) Ending balance of claim loss reserve for title insurance $ 1,843 $ 1,677 Provision for title insurance claim losses as a percentage of title insurance premiums 4.5 % 4.5 % Several lawsuits have been filed by various parties against Chicago Title Company and Chicago Title Insurance Company as its principal (collectively, the “Named Companies”). Generally, plaintiffs claim they are investors who were solicited by Gina Champion-Cain through her former company, ANI Development LLC (“ANI”), or other affiliates to provide funds that purportedly were to be used for high-interest, short-term loans to parties seeking to acquire California alcoholic beverage licenses. Plaintiffs contend they were told that under California state law, alcoholic beverage license applicants are required to deposit into escrow an amount equal to the license purchase price while their applications remain pending with the State. Plaintiffs further alleged that employees of Chicago Title Company participated with Ms. Champion-Cain and her entities in a fraud scheme involving an escrow account maintained by Chicago Title Company into which some of the plaintiffs’ funds were deposited. In connection with the alcoholic beverage license scheme, a lawsuit styled, Securities and Exchange Commission v. Gina Champion-Cain and ANI Development, LLC , was filed in the United States District Court for the Southern District of California asserting claims for securities fraud against Ms. Champion-Cain and certain of her affiliated entities. A receiver was appointed by the court to preserve the assets of the defendant affiliated entities (the “receivership entities”), pay their debts, operate the businesses and pursue any claims they may have against third-parties. Pursuant to the authority granted to her by the federal court, on January 7, 2022, a lawsuit styled, Krista Freitag v. Chicago Title Co. and Chicago Title Ins. Co. , was filed in San Diego County Superior Court by the receiver on behalf of the receivership entities against the Named Companies. The receiver seeks compensatory, incidental, consequential, and punitive damages, and seeks the recovery of attorneys’ fees. In turn, the Named Companies petitioned the Federal Court to sue ANI, via the receiver, to pursue indemnity and other claims against the receivership entities as joint tortfeasors, which was granted. On April 26, 2022, the Named Companies reached a conditional settlement with the receiver and several other investor claimants, which if approved by the federal court, will bar any future claims against the Named Companies related to the alcoholic beverage license scheme. The Named Companies and the receiver agreed to stay the action pending the hearing to approve the settlement which is scheduled for August 29, 2022. The following lawsuits remain pending in the Superior Court of San Diego County for the State of California, most of which involve claimants who have objected to the Named Companies’ settlement with the receiver. Discovery is ongoing, and the cases were initially set for jury trial on December 2, 2022. The trial date has been continued, and it is expected to be reset for a date in March or April 2023. While they have not been consolidated into one action, they have been deemed by the court to be related and are assigned to the same judge for purposes of judicial economy. On December 13, 2019, a lawsuit styled, Kim Funding, LLC, Kim H. Peterson, Joseph J. Cohen, ABC Funding Strategies, LLC, Payson R. Stevens; Kamaljit K. Kapur and The Payson R. Stevens & Kamaljit Kaur Kapur Trust Dated March 28, 2014 v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman , was filed in San Diego County Superior Court. Plaintiffs claim losses of more than $250 million as a result of the alleged fraud scheme, and also seek statutory, treble, and punitive damages, as well as the recovery of attorneys' fees. The Named Companies have filed a cross-complaint against Ms. Champion-Cain, and others. The Named Companies have reached a conditional settlement with members of ABC Funding Strategies, LLC plaintiffs under confidential terms. On March 6, 2020, a lawsuit styled, Wakefield Capital, LLC, Wakefield Investments, LLC, 2Budz Holding, LLC, Doug and Kristine Heidrich, and Jeff and Heidi Orr v. Chicago Title Co. and Chicago Title Ins. Co. , was filed in San Diego County Superior Court. Plaintiffs claim losses in excess of $7 million as a result of the alleged fraud scheme, and also seek punitive damages, recovery of attorneys’ fees, and disgorgement. On June 29, 2020, a lawsuit styled, Susan Heller Fenley Separate Property Trust, DTD 03/04/2010, Susan Heller Fenley Inherited Roth IRA, Shelley Lynn Tarditi Trust and ROJ, LLC v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman , was filed in San Diego County Superior Court. Plaintiffs claim losses in excess of $6 million as a result of the alleged fraud scheme, and also seek statutory, treble, and punitive damages. The Named Companies have filed a cross-complaint against Ms. Champion-Cain, and others. On July 7, 2020, a cross-claim styled, Laurie Peterson v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman , was filed in an existing lawsuit styled, Banc of California, National Association v. Laurie Peterson , which is pending in San Diego County Superior Court. Cross-complaint plaintiff was sued by a bank to recover in excess of $35 million that she allegedly guaranteed to repay for certain investments made by the Banc of California in the alcoholic beverage license scheme. Cross-complaint plaintiff has, in turn, sued the Named Companies in that action seeking in excess of $250 million in monetary losses as well as exemplary damages and attorneys’ fees. The Named Companies have filed a cross-complaint against Ms. Champion-Cain and others, and the Named Companies have been substituted in as the Plaintiff following a settlement with the bank. On September 3, 2020, a cross-claim styled, Kim H. Peterson Trustee of the Peterson Family Trust dated April 14 1992 v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman , was filed in an existing lawsuit styled, CalPrivate Bank v. Kim H. Peterson Trustee of the Peterson Family Trust dated April 14 1992 , which is pending in Superior Court of San Diego County for the State of California. Cross-complaint plaintiff was sued by a bank to recover in excess of $12 million that the trustee allegedly guaranteed to repay for certain investments made by CalPrivate Bank in the alcoholic beverage license scheme. Cross-complaint plaintiff has, in turn, sued the Named Companies in that action seeking in excess of $250 million in monetary losses as well as exemplary damages and attorneys’ fees. On November 2, 2020, a lawsuit styled, CalPrivate Bank v. Chicago Title Co. and Chicago Title Ins. Co., was also filed in the Superior Court of San Diego County for the State of California. Plaintiff claims losses in excess of $12 million based upon business loan advances made in the alcoholic beverage license scheme and seeks punitive damages and the recovery of attorneys’ fees. The Named Companies have filed a cross-complaint against Ms. Champion-Cain, and others. Chicago Title Company has also resolved a number of other pre-suit claims and previously-disclosed lawsuits from both individual and groups of alleged investors under confidential terms. Based on the facts and circumstances of the remaining claims, including the settlements already reached, we have recorded reserves included in our reserve for title claim losses, which we believe are adequate to cover losses related to this matter, and believe that our reserves for title claim losses are adequate. We continually upda te loss reserve estimates as new information becomes known, new loss patterns emerge or as other contributing factors are considered and incorporated into the analysis of reserve for claim losses. Estimating future title loss payments is difficult because of the complex nature of title claims, the long periods of time over which claims are paid, significantly varying dollar amounts of individual claims and other factors. Due to the uncertainty inherent in the process and to the judgment used by management, the ultimate liability may be greater or less than our current reserves. If actual claims loss development varies from what is currently expected and is not offset by other factors, it is possible that additional reserve adjustments may be required in future periods in order to maintain our recorded reserve within a reasonable range of our actuary's central estimate. Our U.S. insurance subsidiaries, FGL Insurance, FGL NY Insurance, and Raven Re, file financial statements with state insurance regulatory authorities and the National Association of Insurance Commissioners (“NAIC”) that are prepared in accordance with Statutory Accounting Principles (“SAP”) prescribed or permitted by such authorities, which may vary materially from GAAP. Prescribed SAP includes the Accounting Practices and Procedures Manual of the NAIC as well as state laws, regulations and administrative rules. Permitted SAP encompasses all accounting practices not so prescribed. The principal differences between SAP financial statements and financial statements prepared in accordance with GAAP are that SAP financial statements do not reflect VOBA, DAC, and DSI, some bond portfolios may be carried at amortized cost, assets and liabilities are presented net of reinsurance, contractholder liabilities are generally valued using more conservative assumptions and certain assets are non-admitted. Accordingly, SAP operating results and SAP capital and surplus may differ substantially from amounts reported in the GAAP basis financial statements for comparable items. F&G Cayman Re Ltd and F&G Life Re Ltd (Bermuda) file financial statements with their respective regulators that are based on U.S. GAAP. FGL Insurance applies Iowa-prescribed accounting practices that permit Iowa-domiciled insurers to report equity call options used to economically hedge FIA index credits at amortized cost for statutory accounting purposes and to calculate FIA statutory reserves such that index credit returns will be included in the reserve only after crediting to the annuity contract. This resulted in a $162 million and $106 million decrease to statutory capital and surplus at June 30, 2022 and December 31, 2021, respectively. FGL Insurance’s statutory carrying value of Raven Reinsurance Company ("Raven Re") reflects the effect of permitted practices Raven Re received to treat the available amount of a letter of credit as an admitted asset, which increased Raven Re’s statutory capital and surplus by $50 million and $85 million at June 30, 2022 and December 31, 2021, respectively. Raven Re is also permitted to follow Iowa prescribed statutory accounting practice for its reserves on reinsurance assumed from FGL Insurance. Without such permitted statutory accounting practices, Raven Re’s statutory capital and surplus (deficit) and its risk-based capital would not fall below the minimum regulatory requirements. The letter of credit facility is collateralized by NAIC 1 rated debt securities. If the permitted practice was revoked, the letter of credit could be replaced by the collateral assets with Nomura’s consent. FGL Insurance’s statutory carrying value of Raven Re was $80 million and $115 million at June 30, 2022 and December 31, 2021, respectively. As of June 30, 2022, FGL NY Insurance did not follow any prescribed or permitted statutory accounting practices that differ from the NAIC's statutory accounting practices.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
Fair Value of Financial Instruments	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Our measurement of fair value is based on assumptions used by market participants in pricing the asset or liability, which may include inherent risk, restrictions on the sale or use of an asset, or non-performance risk, which may include our own credit risk. We estimate an exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability (“exit price”) in the principal market, or the most advantageous market for that asset or liability in the absence of a principal market as opposed to the price that would be paid to acquire the asset or assume a liability (“entry price”). We categorize financial instruments carried at fair value into a three-level fair value hierarchy, based on the priority of inputs to the respective valuation technique. The three-level hierarchy for fair value measurement is defined as follows: Level 1 - Values are unadjusted quoted prices for identical assets and liabilities in active markets accessible at the measurement date. Level 2 - Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices from those willing to trade in markets that are not active, or other inputs that are observable or can be corroborated by market data for the term of the instrument. Such inputs include market interest rates and volatilities, spreads, and yield curves. Level 3 - Certain inputs are unobservable (supported by little or no market activity) and significant to the fair value measurement. Unobservable inputs reflect the Company’s best estimate of what hypothetical market participants would use to determine a transaction price for the asset or liability at the reporting date based on the best information available in the circumstances. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. When a determination is made to classify an asset or liability within Level 3 of the fair value hierarchy, the determination is based upon the significance of the unobservable inputs to the overall fair value measurement. Because certain securities trade in less liquid or illiquid markets with limited or no pricing information, the determination of fair value for these securities is inherently more difficult. In addition to the unobservable inputs, Level 3 fair value investments may include observable components, which are components that are actively quoted or can be validated to market-based sources. The carrying amounts and estimated fair values of our financial instruments for which the disclosure of fair values is required, including financial assets and liabilities measured and carried at fair value on a recurring basis, with the exception of investment contracts, portions of other long-term investments and debt, which are disclosed later within this footnote, was summarized according to the hierarchy previously described, as follows (in millions): June 30, 2022 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 2,426 $ — $ — $ 2,426 $ 2,426 Fixed maturity securities, available-for-sale: Asset-backed securities — 4,771 4,677 9,448 9,448 Commercial mortgage-backed securities — 3,016 37 3,053 3,053 Corporates 40 12,770 1,374 14,184 14,184 Hybrids 118 651 — 769 769 Municipals — 1,278 33 1,311 1,311 Residential mortgage-backed securities — 893 9 902 902 U.S. Government 530 — — 530 530 Foreign Governments — 219 16 235 235 Short term investments 1,814 774 — 2,588 2,588 Preferred securities 411 741 1 1,153 1,153 Equity securities 701 — 10 711 711 Derivative investments — 145 — 145 145 Reinsurance related embedded derivative, included in other assets — 191 — 191 191 Other long-term investments — — 72 72 72 Total financial assets at fair value $ 6,040 $ 25,449 $ 6,229 $ 37,718 $ 37,718 Liabilities Derivatives: FIA/ IUL embedded derivatives, included in contractholder funds — — 2,941 2,941 2,941 Total financial liabilities at fair value $ — $ — $ 2,941 $ 2,941 $ 2,941 December 31, 2021 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 4,360 $ — $ — $ 4,360 $ 4,360 Fixed maturity securities, available-for-sale: Asset-backed securities — 4,736 3,959 8,695 8,695 Commercial mortgage-backed securities — 2,944 35 2,979 2,979 Corporates 37 15,322 1,135 16,494 16,494 Hybrids 132 780 — 912 912 Municipals — 1,458 43 1,501 1,501 Residential mortgage-backed securities — 731 — 731 731 U.S. Government 394 — — 394 394 Foreign Governments — 266 18 284 284 Short term investments 168 2 321 491 491 Preferred securities 506 893 2 1,401 1,401 Equity securities 1,206 — 9 1,215 1,215 Derivative investments — 816 — 816 816 Other long-term investments — — 78 78 78 Total financial assets at fair value $ 6,803 $ 27,948 $ 5,600 $ 40,351 $ 40,351 Liabilities Derivatives: FIA/ IUL embedded derivatives, included in contractholder funds — — 3,883 3,883 3,883 Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities — 73 — 73 73 Total financial liabilities at fair value $ — $ 73 $ 3,883 $ 3,956 $ 3,956 Valuation Methodologies Cash and Cash Equivalents The carrying amounts reported in the unaudited Condensed Consolidated Balance Sheets for these instruments approximate fair value. Fixed Maturity Preferred and Equity Securities We measure the fair value of our securities based on assumptions used by market participants in pricing the security. The most appropriate valuation methodology is selected based on the specific characteristics of the fixed maturity, preferred or equity security, and we will then consistently apply the valuation methodology to measure the security’s fair value. Our fair value measurement is based on a market approach, which utilizes prices and other relevant information generated by market transactions involving identical or comparable securities. Sources of inputs to the market approach include third-party pricing services, independent broker quotations, or pricing matrices. We use observable and unobservable inputs in our valuation methodologies. Observable inputs include benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. In addition, market indicators and industry and economic events are monitored and further market data will be acquired when certain thresholds are met. For certain security types, additional inputs may be used, or some of the inputs described above may not be applicable. The significant input used in the fair value measurement of equity securities for which the market approach valuation technique is employed is yield for comparable securities. Increases or decreases in the yields would result in lower or higher, respectively, fair value measurements. For broker-quoted only securities, quotes from market makers or broker-dealers are obtained from sources recognized to be market participants. We believe the broker quotes are prices at which trades could be executed based on historical trades executed at broker-quoted or slightly higher prices. We analyze the third-party valuation methodologies and related inputs to perform assessments to determine the appropriate level within the fair value hierarchy. However, we did not adjust prices received from third parties as of June 30, 2022 or December 31, 2021. Certain equity investments are measured using NAV as a practical expedient in determining fair value. Derivative Financial Instruments The fair value of call options is based upon valuation pricing models, which represents what we would expect to receive or pay at the balance sheet date if we canceled the options, entered into offsetting positions, or exercised the options. Fair values for these instruments are determined internally, based on industry accepted valuation pricing models, which use market-observable inputs, including interest rates, yield curve volatilities, and other factors. The fair value of futures contracts (specifically for FIA contracts) represents the cumulative unsettled variation margin (open trade equity, net of cash settlements), which represents what we would expect to receive or pay at the balance sheet date if we canceled the contracts or entered into offsetting positions. These contracts are classified as Level 1. The fair value measurement of the FIA/IUL embedded derivatives included in contractholder funds is determined through a combination of market observable information and significant unobservable inputs using the option budget method. The market observable inputs are the market value of option and treasury rates. The significant unobservable inputs are the budgeted option cost (i.e., the expected cost to purchase call options in future periods to fund the equity indexed linked feature), surrender rates, mortality multiplier and non-performance spread. The mortality multiplier at June 30, 2022 was applied to the 2012 Individual Annuity mortality tables. Increases or decreases in the market value of an option in isolation would result in a higher or lower, respectively, fair value measurement. Increases or decreases in treasury rates, mortality multiplier, surrender rates, or non-performance spread in isolation would result in a lower or higher fair value measurement, respectively. Generally, a change in any one unobservable input would not directly result in a change in any other unobservable input. The fair value of the reinsurance-related embedded derivatives in the funds withheld reinsurance agreements with Kubera Insurance (SAC) Ltd. ("Kubera") (effective October 31, 2021, this agreement was novated from Kubera to Somerset Reinsurance Ltd. ("Somerset"), a certified third party reinsurer) and ASPIDA Life Re Ltd ("Aspida Re") are estimated based upon the fair value of the assets supporting the funds withheld from reinsurance liabilities. The fair value of the assets is based on a quoted market price of similar assets (Level 2), and therefore the fair value of the embedded derivative is based on market-observable inputs and classified as Level 2. See Note L F&G Reinsurance for further discussion on F&G reinsurance agreements. Other long-term investments We hold a fund-linked note, which provides for an additional payment at maturity based on the value of an embedded derivative based on the actual return of a dedicated return fund. Fair value of the embedded derivative is based on an unobservable input, the net asset value of the fund at the balance sheet date. The embedded derivative is similar to a call option on the net asset value of the fund with a strike price of zero since F&G will not be required to make any additional payments at maturity of the fund-linked note in order to receive the net asset value of the fund on the maturity date. A Black-Scholes model determines the net asset value of the fund as the fair value of the call option regardless of the values used for the other inputs to the option pricing model. The net asset value of the fund is provided by the fund manager at the end of each calendar month and represents the value an investor would receive if it withdrew its investment on the balance sheet date. Therefore, the key unobservable input used in the Black-Scholes model is the value of the fund. As the value of the fund increases or decreases, the fair value of the embedded derivative will increase or decrease. See further discussion on the available-for-sale embedded derivative in Note E Derivative Financial Instruments . The fair value of the credit-linked note is based on a weighted average of a broker quote and a discounted cash flow analysis. The discounted cash flow approach is based on the expected portfolio cash flows and amortization schedule reflecting investment expectations, adjusted for assumptions on the portfolio's default and recovery rates, and the note's discount rate. The fair value of the note is provided by the fund manager at the end of each quarter. Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments carried at fair value as of June 30, 2022 and December 31, 2021 are as follows: Fair Value at Valuation Technique Unobservable Input(s) Range (Weighted average) June 30, 2022 (in millions) June 30, 2022 Assets Asset-backed securities $ 4,517 Broker-quoted Offered quotes 41.02% - 228.74% (92.19%) Asset-backed securities 160 Third-Party Valuation Offered quotes 66.37% - 100.34% (98.38%) Commercial mortgage-backed securities 21 Broker-quoted Offered quotes 112.82% - 112.82% (112.82%) Commercial mortgage-backed securities 16 Third-Party Valuation Offered quotes 71.25% - 88.63% (81.41%) Corporates 602 Broker-quoted Offered quotes 0.00% - 108.46% (92.11%) Corporates 17 Discounted Cash Flow Discount Rate 44.00% - 100.00% (77.00%) Corporates 755 Third-Party Valuation Offered quotes 75.42% - 124.99% (94.59%) Municipals 33 Third-Party Valuation Offered quotes 106.40% - 106.40% (106.40%) Residential mortgage-backed securities 9 Broker-quoted Offered quotes 0.00% - 93.02% (93.02%) Foreign Governments 16 Third-Party Valuation Offered quotes 98.73% - 99.59% (99.32%) Preferred securities 1 Discounted Cash Flow Discount rate 100.00% - 100.00% (100.00%) Equity securities 6 Broker Quoted Offered quotes $60.50 - $60.50 ($60.50) Equity securities 4 Discounted Cash Flow Discount rate 11.10% - 11.10% (11.10%) Market Comparable Company Analysis EBITDA multiple 5.5x - 5.5x (5.5x) Other long-term investments: Available-for-sale embedded derivative 24 Black Scholes model Market value of fund 100.00% Secured borrowing receivable 10 Broker-quoted Offered quotes 100.00% - 100.00% (100.00%) Credit Linked Note 17 Broker-quoted Offered quotes 100.00% Investment in affiliate 21 Market Comparable Company Analysis EBITDA multiple 8x-8x Total financial assets at fair value $ 6,229 Liabilities Derivative investments: FIA/ IUL embedded derivatives, included in contractholder funds $ 2,941 Discounted cash flow Market value of option 0.00% - 23.28% (0.48%) Swap rates 1.28% - 3.38% (2.33%) Mortality multiplier 100.00% - 100.00% (100.00%) Surrender rates 0.25% - 70.00% (6.38%) Partial withdrawals 2.00% - 29.41% (2.74%) Non-performance spread 0.76% - 1.64% (1.50%) Option cost 0.00% - 4.97% (1.86%) Total financial liabilities at fair value $ 2,941 Fair Value at Valuation Technique Unobservable Input(s) Range (Weighted average) December 31, 2021 (in millions) December 31, 2021 Assets Asset-backed securities $ 3,844 Broker-quoted Offered quotes 52.56% - 260.70% (97.06%) Asset-backed securities 115 Third-Party Valuation Offered quotes 93.02% - 108.45% (104.95%) Commercial mortgage-backed securities 24 Broker-quoted Offered quotes 126.70% - 126.70% (126.70%) Commercial mortgage-backed securities 11 Third Party Valuation Offered quotes 97.91% - 97.91% (97.91%) Corporates 380 Broker-quoted Offered quotes 0.00% - 109.69% (100.91%) Corporates 741 Third-Party Valuation Offered quotes 85.71% - 119.57% (107.72%) Corporates 14 Discounted Cash Flow Discount Rate 44.00% - 100.00% (62.00%) Municipals 43 Third-Party Valuation Offered quotes 135.09% - 135.09% (135.09%) Foreign Governments 18 Third-Party Valuation Offered quotes 107.23% - 116.44% (110.11%) Short term investments 321 Broker-quoted Offered quotes 100.00% - 100.00% (100.00%) Preferred securities 2 Income-Approach Yield 2.43% Equity securities 3 Broker Quoted Offered quotes $6.23 - $6.23 ($6.23) Equity securities 2 Black Scholes model Risk Free Rate 1.00% -1.00% (1.00%) Strike Price $1.50 - $1.50 ($1.50) Volatility 81.00% - 81.00% (81.00%) Dividend Yield 0.00% - 0.00% (0.00%) Equity securities 4 Discounted Cash Flow Discount rate 12.70% - 12.70% (12.70%) Market Comparable Company Analysis EBITDA multiple 5.9x - 5.9x (5.9x) Other long-term investments: Available-for-sale embedded derivative 34 Black Scholes model Market value of fund 100.00% Credit Linked Note 23 Broker-quoted Offered quotes 100.00% Investment in affiliate 21 Market Comparable Company Analysis EBITDA multiple 8x-8x Total financial assets at fair value $ 5,600 Liabilities Derivative investments: FIA/ IUL embedded derivatives, included in contractholder funds 3,883 Discounted cash flow Market value of option 0.00% - 38.72% (3.16%) Swap rates 0.05% - 1.94% (1.00%) Mortality multiplier 100.00% - 100.00% (100.00%) Surrender rates 0.25% - 70.00% (6.26%) Partial withdrawals 2.00% - 23.26% (2.72%) Non-performance spread 0.43% - 1.01% (0.68%) Option cost 0.07% - 4.97% (1.83%) Total financial liabilities at fair value $ 3,883 The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three and six months ended June 30, 2022 and 2021. This summary excludes any impact of amortization of value of business acquired (“VOBA”), deferred acquisition cost (“DAC”), and deferred sales inducements (“DSI”). The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended June 30, 2022 (in millions) Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 4,161 $ 1 $ (142) $ 827 $ (39) $ (126) $ (5) $ 4,677 $ (153) Commercial mortgage-backed securities 40 — (3) — — — — 37 (2) Corporates 1,141 — (64) 307 — (6) (4) 1,374 (61) Municipals 37 — (4) — — — — 33 (4) Residential mortgage-backed securities — — — 9 — — — 9 — Foreign Governments 17 — (1) — — — — 16 (1) Short term investments 19 — — — — — (19) — — Preferred securities 1 — — — — — — 1 — Equity securities 10 — — 1 (1) — — 10 — Other long-term investments: Available-for-sale embedded derivative 30 (6) — — — — — 24 — Investment in affiliate 21 — — — — — — 21 — Credit linked note 19 — — — — (2) — 17 — Secured borrowing receivable — — — — — — 10 10 — Total Level 3 assets at fair value $ 5,496 $ (5) $ (214) $ 1,144 $ (40) $ (134) $ (18) $ 6,229 $ (221) Liabilities FIA/ IUL embedded derivatives, included in contractholder funds 3,395 (454) — — — — — 2,941 — Total Level 3 liabilities at fair value $ 3,395 $ (454) $ — $ — $ — $ — $ — $ 2,941 $ — (a) The net transfers out of Level 3 during the three months ended June 30, 2022 were exclusively to Level 2. Three months ended June 30, 2021 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 1,593 $ — $ 20 $ 813 $ — $ (90) $ (27) $ 2,309 $ 18 Commercial mortgage-backed securities 25 — — — — — — 25 — Corporates 1,247 2 16 18 (7) (76) 1 1,201 18 Municipals 41 — 2 — — — — 43 3 Residential mortgage-backed securities 487 — (10) 5 — (39) — 443 (6) Foreign Governments 17 — — — — — — 17 — Short-Term — — 1 302 — — — 303 — Equity and preferred securities 10 — 1 — (1) — — 10 — Other long-term investments: Available-for-sale embedded derivative 28 2 — — — — — 30 — Credit linked note 19 — — — — — — 19 — Total assets at Level 3 fair value $ 3,467 $ 4 $ 30 $ 1,138 $ (8) $ (205) $ (26) $ 4,400 $ 33 Liabilities Future policy benefits (FSRC) $ 4 $ — $ — $ — $ (4) $ — $ — $ — $ — FIA embedded derivatives, included in contractholder funds 3,293 466 — — — — — 3,759 — Total liabilities at Level 3 fair value $ 3,297 $ 466 $ — $ — $ (4) $ — $ — $ 3,759 $ — Six months ended June 30, 2022 (in millions) Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Included in OCI Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 3,959 $ 1 $ (272) $ 1,227 $ (39) $ (278) $ 79 $ 4,677 $ (291) Commercial mortgage-backed securities 35 — (5) — — — 7 37 (4) Corporates 1,135 — (137) 386 — (32) 22 1,374 (134) Hybrids — — — — — — — — — Municipals 43 — (10) — — — — 33 (9) Residential mortgage-backed securities — — — 9 — — — 9 — Foreign Governments 18 — (2) — — — — 16 (1) Short-Term 321 — (1) 20 — — (340) — (1) Preferred securities 2 — (1) — — — — 1 (1) Equity securities 9 — — 1 — — — 10 — Other long-term investments: Available-for-sale embedded derivative 34 (10) — — — — — 24 — Investment in affiliate 21 — — — — — — 21 — Credit linked note 23 — (3) — — (3) — 17 — Secured borrowing receivable — — — — — — 10 10 — Total assets at Level 3 fair value $ 5,600 $ (9) $ (431) $ 1,643 $ (39) $ (313) $ (222) $ 6,229 $ (441) Liabilities FIA embedded derivatives, included in contractholder funds 3,883 (942) — — — — — 2,941 — Total liabilities at Level 3 fair value $ 3,883 $ (942) $ — $ — $ — $ — $ — $ 2,941 $ — ( a) The net transfers out of Level 3 during the six months ended June 30, 2022 were to Level 2, except for the net transfers out related to our other long-term investment, which was to Level 1. Six months ended June 30, 2021 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Included in OCI Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 1,350 $ — $ (3) $ 1,171 $ — $ (182) $ (27) $ 2,309 $ 14 Commercial mortgage-backed securities 26 — (1) — — — — 25 1 Corporates 1,289 9 (26) 57 (8) (107) (13) 1,201 37 Hybrids 4 — — — — (4) — — — Municipals 43 — — — — — — 43 7 Residential mortgage-backed securities 483 — 2 10 — (52) — 443 21 Foreign Governments 17 — — — — — — 17 2 Short-Term — — 1 302 — — — 303 — Equity and preferred securities 5 2 1 2 — — — 10 — Other long-term investments: Available-for-sale embedded derivative 27 3 — — — — — 30 — Credit linked note 23 — (4) — — — — 19 — Total assets at Level 3 fair value $ 3,267 $ 14 $ (30) $ 1,542 $ (8) $ (345) $ (40) $ 4,400 $ 82 Liabilities Future policy benefits (FSRC) $ 5 $ — $ — $ — $ (4) $ (1) $ — $ — $ — FIA embedded derivatives, included in contractholder funds 3,404 355 — — — — — 3,759 — Total liabilities at Level 3 fair value $ 3,409 $ 355 $ — $ — $ (4) $ (1) $ — $ 3,759 $ — Valuation Methodologies and Associated Inputs for Financial Instruments Not Carried at Fair Value The following discussion outlines the methodologies and assumptions used to determine the fair value of our financial instruments not carried at fair value. Considerable judgment is required to develop these assumptions used to measure fair value. Accordingly, the estimates shown are not necessarily indicative of the amounts that would be realized in a one-time, current market exchange of all of our financial instruments. Mortgage Loans The fair value of mortgage loans is established using a discounted cash flow method based on internal credit rating, maturity and future income. This yield-based approach is sourced from our third-party vendor. The internal ratings for mortgages in good standing are based on property type, location, market conditions, occupancy, debt service coverage, loan-to-value, quality of tenancy, borrower, and payment record. The inputs used to measure the fair value of our mortgage loans are classified as Level 3 within the fair value hierarchy. Policy Loans (included within Other long-term investments) Fair values for policy loans are estimated from a discounted cash flow analysis, using interest rates currently being offered for loans with similar credit risk. Loans with similar characteristics are aggregated for purposes of the calculations. Company Owned Life Insurance Company owned life insurance ("COLI") is a life insurance program used to finance certain employee benefit expenses. The fair value of COLI is based on net realizable value, which is generally cash surrender value. COLI is classified as Level 3 within the fair value hierarchy. Other Invested Assets (included within Other long-term investments) The fair value of bank loans is estimated using a discounted cash flow method with the discount rate based on weighted average cost of capital ("WACC"). This yield-based approach is sourced from a third-party vendor and the WACC establishes a market participant discount rate by determining the hypothetical capital structure for the asset should it be underwritten as of each period end. Other invested assets are classified as Level 3 within the fair value hierarchy. Investment Contracts Investment contracts include deferred annuities (FIAs and fixed rate annuities), indexed universal life policies ("IULs"), funding agreements and PRT and immediate annuity contracts without life contingencies. The FIA/ IUL embedded derivatives, included in contractholder funds, are excluded as they are carried at fair value. The fair value of the FIA, fixed rate annuity and IUL contracts is based on their cash surrender value (i.e. the cost the Company would incur to extinguish the liability) as these contracts are generally issued without an annuitization date. The fair value of funding agreements and PRT and immediate annuity contracts without life contingencies is derived by calculating a new fair value interest rate using the updated yield curve and treasury spreads as of the respective reporting date. The Company is not required to, and has not, estimated the fair value of the liabilities under contracts that involve significant mortality or morbidity risks, as these liabilities fall within the definition of insurance contracts that are exceptions from financial instruments that require disclosures of fair value. Other Federal Home Loan Bank of Atlanta ("FHLB") common stock, Accounts receivable and Notes receivable are carried at cost, which approximates fair value. FHLB common stock is classified as Level 2 within the fair value hierarchy. Accounts receivable and Notes receivable are classified as Level 3 within the fair value hierarchy. Debt The fair value of debt is based on quoted market prices. The inputs used to measure the fair value of our outstanding debt are classified as Level 2 within the fair value hierarchy. The following tables provide the carrying value and estimated fair value of our financial instruments that are carried on the unaudited Condensed Consolidated Balance Sheets at amounts other than fair value, summarized according to the fair value hierarchy previously described. June 30, 2022 (in millions) Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets FHLB common stock $ — $ 90 $ — $ 90 $ 90 Commercial mortgage loans — — 2,119 2,119 2,315 Residential mortgage loans — — 1,971 1,971 2,122 Policy loans — — 44 44 44 Other invested assets — — 69 69 69 Company-owned life insurance — — 352 352 352 Trade and notes receivables, net of allowance — — 616 616 616 Total $ — $ 90 $ 5,171 $ 5,261 $ 5,608 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 31,550 $ 31,550 $ 34,990 Debt — 2,711 — 2,711 3,094 Total $ — $ 2,711 $ 31,550 $ 34,261 $ 38,084 December 31, 2021 (in millions) Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets FHLB common stock $ — $ 72 $ — $ 72 $ 72 Commercial mortgage loans — — 2,265 2,265 2,168 Residential mortgage loans — — 1,549 1,549 1,581 Policy loans — — 39 39 39 Other invested assets — — 57 57 57 Company-owned life insurance — — 333 333 333 Trade and notes receivables, net of allowance — — 557 557 557 Total $ — $ 72 $ 4,800 $ 4,872 $ 4,807 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 27,448 $ 27,448 $ 31,529 Debt — 3,218 — 3,218 3,096 Total $ — $ 3,218 $ 27,448 $ 30,666 $ 34,625 The following table includes assets that have not been classified in the fair value hierarchy as the value of these investments are measured using the equity method of accounting or net asset value ("NAV") is used as a practical expedient in determining fair value: Carrying Amount June 30, 2022 December 31, 2021 Investments in unconsolidated affiliates $ 167 $ 136 Equity securities (NAV) 44 48 Investments in unconsolidated affiliates (a) 2,668 2,350 $ 2,879 $ 2,534 (a) The fair value of these investments using the NAV practical expedient and their carrying amount are generally equal. For investments for which NAV is used as a practical expedient for fair value, we do not have any significant restrictions in our ability to liquidate our positions in these investments, other than obtaining general partner approval, nor do we believe it is probable a price less than NAV would be received in the event of a liquidation. We account for our investment in unconsolidated affiliates using the equity method of accounting. Equity method investments are reported on a lag of up to three months for investee information not received timely.

Investments

Investments	6 Months Ended
Investments	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	1.25 1.00 - 1.25 <1.00 June 30, 2022 LTV Ratios: Less than 50% $ 398 $ 4 $ 9 $ 411 18 % $ 401 19 % 50% to 60% 771 — — 771 33 % 712 34 % 60% to 75% 1,130 — — 1,130 48 % 1,000 47 % 75% to 85% $ — $ 9 $ — $ 9 1 % 6 — % Commercial mortgage loans $ 2,299 $ 13 $ 9 $ 2,321 100 % $ 2,119 100 % December 31, 2021 LTV Ratios: Less than 50% $ 626 $ 33 $ 9 $ 668 31 % $ 745 33 % 50% to 60% 470 — — 470 22 % 481 21 % 60% to 75% 1,036 — — 1,036 47 % 1,039 46 % Commercial mortgage loans $ 2,132 $ 33 $ 9 $ 2,174 100 % $ 2,265 100 % We recognize a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At June 30, 2022 we had one CML that was delinquent in principal or interest payments as shown in the risk rating exposure table below. At December 31, 2021 we had no CMLs that were delinquent in principal or interest payments. Residential Mortgage Loans Residential mortgage loans ("RMLs") represented approximately 6% of our total investments as of June 30, 2022. Our residential mortgage loans are closed end, amortizing loans and 100% of the properties are located in the United States. We diversify our RML portfolio by state to attempt to reduce concentration risk. The distribution of RMLs by state with highest-to-lowest concentration are reflected in the following tables (dollars in millions): June 30, 2022 U.S. State: Amortized Cost % of Total Florida $ 302 14 % Texas 227 11 % New Jersey 171 8 % Pennsylvania 146 7 % California 145 7 % New York 137 6 % Georgia 117 5 % All Other States (1) 903 42 % Total residential mortgage loans $ 2,148 100 % (1) The individual concentration of each state is equal to or less than 5% as of June 30, 2022. December 31, 2021 U.S. State: Amortized Cost % of Total Florida $ 231 15 % Texas 167 10 % New Jersey 150 10 % All other states (1) 1,027 65 % Total residential mortgage loans $ 1,575 100 % (1) The individual concentration of each state is less than 9% as of December 31, 2021. Residential mortgage loans have a primary credit quality indicator of either a performing or nonperforming loan. We define non-performing residential mortgage loans as those that are 90 or more days past due or in nonaccrual status, which is assessed monthly. The credit quality of RMLs as of June 30, 2022 and December 31, 2021, was as follows (dollars in millions): June 30, 2022 December 31, 2021 Performance indicators: Carrying Value % of Total Carrying Value % of Total Performing $ 2,083 97 % $ 1,533 95 % Non-performing 68 3 % 73 5 % Total residential mortgage loans, gross of valuation allowance $ 2,151 100 % $ 1,606 100 % Allowance for expected loan loss (29) — % (25) — % Total residential mortgage loans $ 2,122 100 % $ 1,581 100 % Loans segregated by risk rating exposure as of June 30, 2022 and December 31, 2021, were as follows (in millions): June 30, 2022 Amortized Cost by Origination Year 2022 2021 2020 2019 2018 Prior Total Residential mortgages Current (less than 30 days past due) $ 605 $ 896 $ 244 $ 211 $ 29 $ 43 $ 2,028 30-89 days past due 15 19 5 14 1 — 54 Over 90 days past due — 6 16 46 1 — 69 Total residential mortgages $ 620 $ 921 $ 265 $ 271 $ 31 $ 43 $ 2,151 Commercial mortgages Current (less than 30 days past due) $ 229 $ 1,301 $ 509 $ — $ — $ 273 $ 2,312 30-89 days past due — — — — — — — Over 90 days past due — — — — — 9 9 Total commercial mortgages $ 229 $ 1,301 $ 509 $ — $ — $ 282 $ 2,321 December 31, 2021 Amortized Cost by Origination Year 2021 2020 2019 2018 2017 Prior Total Residential mortgages Current (less than 30 days past due) $ 795 $ 293 $ 323 $ 50 $ 36 $ 21 $ 1,518 30-89 days past due 5 4 6 1 — — 16 Over 90 days past due 1 23 46 2 — — 72 Total residential mortgages $ 801 $ 320 $ 375 $ 53 $ 36 $ 21 $ 1,606 Commercial mortgages Current (less than 30 days past due) $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 30-89 days past due — — — — — — — Over 90 days past due — — — — — — — Total commercial mortgage $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 June 30, 2022 Amortized Cost by Origination Year 2022 2021 2020 2019 2018 Prior Total Commercial mortgages LTV Less than 50% $ 14 $ 121 $ 153 $ — $ — $ 123 $ 411 50% to 60% 105 292 234 — — 140 771 60% to 75% 110 888 122 — — 10 1,130 75% to 85% — — — — — 9 9 Total commercial mortgages $ 229 $ 1,301 $ 509 $ — $ — $ 282 $ 2,321 Commercial mortgages DSCR Greater than 1.25x $ 229 $ 1,301 $ 509 $ — $ — $ 260 $ 2,299 1.00x - 1.25x — — — — — 13 13 Less than 1.00x — — — — — 9 9 Total commercial mortgages $ 229 $ 1,301 $ 509 $ — $ — $ 282 $ 2,321 December 31, 2021 Amortized Cost by Origination Year 2021 2020 2019 2018 2017 Prior Total Commercial mortgages LTV Less than 50% $ 120 $ 229 $ — $ 6 $ — $ 313 $ 668 50% to 60% 267 192 — — — 11 470 60% to 75% 914 122 — — — — 1,036 Total commercial mortgages $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 Commercial mortgages DSCR Greater than 1.25x $ 1,301 $ 543 $ — $ 4 $ — $ 284 $ 2,132 1.00x - 1.25x — — — 2 — 31 33 Less than 1.00x — — — — — 9 9 Total commercial mortgages $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 Non-accrual loans by amortized cost as of June 30, 2022 and December 31, 2021, were as follows (in millions): Amortized cost of loans on non-accrual June 30, 2022 December 31, 2021 Residential mortgage: $ 69 $ 72 Commercial mortgage: — — Total non-accrual loans $ 69 $ 72 Immaterial interest income was recognized on non-accrual financing receivables for the three and six months ended June 30, 2022. It is our policy to cease to accrue interest on loans that are over 90 days delinquent. For loans less than 90 days delinquent, interest is accrued unless it is determined that the accrued interest is not collectible. If a loan becomes over 90 days delinquent, it is our general policy to initiate foreclosure proceedings unless a workout arrangement to bring the loan current is in place. As of June 30, 2022 and December 31, 2021, we had $69 million and $72 million, respectively, of residential mortgage loans that were over 90 days past due, of which $38 million and $39 million was in the process of foreclosure as of June 30, 2022 and December 31, 2021, respectively. We will continue to evaluate these policies with regard to the economic challenges for mortgage debtors related to COVID-19. Our ability to initiate foreclosure proceedings may be limited by legislation passed and executive orders issued in response to COVID-19. Allowance for Expected Credit Loss We estimate expected credit losses for our commercial and residential mortgage loan portfolios using a probability of default/loss given default model. Significant inputs to this model include, where applicable, the loans' current performance, underlying collateral type, location, contractual life, LTV, DSC and Debt to Income or FICO. The model projects losses using a two year reasonable and supportable forecast and then reverts over a three year period to market-wide historical loss experience. Changes in our allowance for expected credit losses on mortgage loans are recognized in Recognized gains and losses, net in the accompanying unaudited Condensed Consolidated Statements of Earnings. The allowances for our mortgage loan portfolio is summarized as follows (in millions): Three months ended June 30, 2022 Six months ended June 30, 2022 Residential Mortgage Commercial Mortgage Total Residential Mortgage Commercial Mortgage Total Beginning Balance $ 26 $ 6 $ 32 $ 25 $ 6 $ 31 Provision for loan losses 3 — 3 4 — 4 Ending Balance $ 29 $ 6 $ 35 $ 29 $ 6 $ 35 Three months ended June 30, 2021 Six months ended June 30, 2021 Residential Mortgage Commercial Mortgage Total Residential Mortgage Commercial Mortgage Total Beginning Balance $ 31 $ 5 $ 36 $ 37 $ 2 $ 39 Provision for loan losses (3) 1 (2) (9) 4 (5) Ending Balance $ 28 $ 6 $ 34 $ 28 $ 6 $ 34 An allowance for expected credit loss is not measured on accrued interest income for commercial mortgage loans as we have a process to write-off interest on loans that enter into non-accrual status (over 90 days past due). Allowances for expected credit losses are measured on accrued interest income for residential mortgage loans and were immaterial as of June 30, 2022 and December 31, 2021. Interest and Investment Income The major sources of Interest and investment income reported on the accompanying unaudited Condensed Consolidated Statements of Earnings were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Fixed maturity securities, available-for-sale $ 350 $ 325 $ 682 $ 631 Equity securities 7 5 15 10 Preferred securities 20 18 35 32 Mortgage loans 49 33 88 56 Invested cash and short-term investments 13 1 18 1 Limited partnerships 58 164 171 244 Tax deferred property exchange income 10 4 14 9 Other investments 4 6 13 14 Gross investment income 511 556 1,036 997 Investment expense (48) (42) (95) (81) Interest and investment income $ 463 $ 514 $ 941 $ 916 Recognized Gains and Losses, net Details underlying Recognized gains and losses, net reported on the accompanying unaudited Condensed Consolidated Statements of Earnings were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Net realized (losses) gains on fixed maturity available-for-sale securities $ (61) $ 13 $ (98) $ 53 Net realized/unrealized losses on equity securities (1) (221) (42) (370) (88) Net realized/unrealized (losses) gains on preferred securities (2) (118) 15 (208) 6 Realized (losses) gains on other invested assets (9) 12 (10) 8 Change in allowance for expected credit losses (9) (4) (12) 6 Derivatives and embedded derivatives: Realized (losses) gains on certain derivative instruments (35) 120 15 180 Unrealized (losses) gains on certain derivative instruments (359) 142 (717) 107 Change in fair value of reinsurance related embedded derivatives (3) 141 (27) 263 — Change in fair value of other derivatives and embedded derivatives (5) 3 (8) 3 Realized (losses) gains on derivatives and embedded derivatives (258) 238 (447) 290 Recognized gains and losses, net $ (676) $ 232 $ (1,145) $ 275 (1) Includes net valuation losses of $(222) million and $(46) million for the three months ended June 30, 2022 and 2021, respectively, and net valuation losses of $(388) million and $(92) million for the six months ended June 30, 2022 and 2021, respectively. (2) Includes net valuation (losses) gains of $(118) million and $7 million for the three months ended June 30, 2022 and 2021, respectively, and net valuation (losses) gains of $(207) million and $4 million for the six months ended June 30, 2022 and 2021, respectively. (3) Change in fair value of reinsurance related embedded derivatives is due to activity related to the reinsurance treaties with Kubera (novated from Kubera to Sommerset effective October 31, 2021) and Aspida Re. The proceeds from the sale of fixed-maturity securities and the gross gains and losses associated with those transactions were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Proceeds $ 802 $ 444 $ 1,835 $ 869 Gross gains 1 36 5 68 Gross losses (61) (8) (99) (16) Unconsolidated Variable Interest Entities We own investments in VIEs that are not consolidated within our financial statements. A VIE is an entity that does not have sufficient equity to finance its own activities without additional financial support, where investors lack certain characteristics of a controlling financial interest, or where the entity is structured with non-substantive voting rights. VIEs are consolidated by their ‘primary beneficiary’, a designation given to an entity that receives both the benefits from the VIE as well as the substantive power to make its key economic decisions. While we participate in the benefits from VIEs in which we invest, but do not consolidate, the substantive power to make the key economic decisions for each respective VIE resides with entities not under our common control. It is for this reason that we are not considered the primary beneficiary for the VIE investments that are not consolidated. We invest in various limited partnerships and limited liability companies primarily as a passive investor. These investments are primarily in credit funds with a bias towards current income, real assets, or private equity. Limited partnership and limited liability company interests are accounted for under the equity method and are included in Investments in unconsolidated affiliates on our unaudited Condensed Consolidated Balance Sheets. In addition, we invest in structured investments, which may be VIEs, but for which we are not the primary beneficiary. These structured investments typically invest in fixed income investments and are managed by third parties and include asset-backed securities, commercial mortgage-backed securities and residential mortgage-backed securities included in fixed maturity securities available for sale on our unaudited Condensed Consolidated Balance Sheets. Our maximum exposure to loss with respect to these VIEs is limited to the investment carrying amounts reported in our unaudited Condensed Consolidated Balance Sheets for limited partnerships and the amortized costs of our fixed maturity securities, in addition to any required unfunded commitments (also refer to Note F Commitments and Contingencies ). The following table summarizes the carrying value and the maximum loss exposure of our unconsolidated VIEs as of June 30, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment in limited partnerships $ 2,668 $ 4,343 $ 2,350 $ 3,496 Fixed maturity securities 13,026 14,255 12,382 12,802 Total unconsolidated VIE investments $ 15,694 $ 18,598 $ 14,732 $ 16,298 Concentrations Our underlying investment concentrations that exceed 10% of shareholders equity are as follows (in millions): June 30, 2022 Blackstone Wave Asset Holdco (1) 960 Jade 22 (2) 855 (1) Represents a special purpose vehicle that holds investments in numerous limited partnership investments whose underlying investments are further diversified by holding interest in multiple individual investments and industries. (2) Represents a special purpose vehicle that holds numerous underlying corporate loans across various industries. Investment in Cannae Holdings, Inc. ("Cannae") Included in equity securities as of December 31, 2021 were 5,775,598 shares of Cannae common stock (NYSE: CNNE). The fair value of this investment based on quoted market prices as of December 31, 2021 was $203 million. During the three months ended June 30, 2022, we sold 4,775,598 shares of CNNE common stock back to Cannae for approximately $85 million in the aggregate. During the six months ended June 30, 2022, we sold 5,775,598 shares of CNNE common stock back to Cannae for approximately $109 million in the aggregate. As of June 30, 2022, we held no shares of CNNE common stock." id="sjs-B4">Investments Our fixed maturity securities investments have been designated as available-for-sale ("AFS"), and are carried at fair value, net of allowance for expected credit losses, with unrealized gains and losses included in AOCI, net of associated adjustments for VOBA, DAC, DSI, unearned revenue ("UREV"), SOP 03-1 reserves, and deferred income taxes. Our preferred and equity securities investments are carried at fair value with unrealized gains and losses included in net earnings. The Company’s consolidated investments at June 30, 2022 and December 31, 2021 are summarized as follows (in millions): June 30, 2022 Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for-sale securities Asset-backed securities $ 9,965 $ (2) $ 46 $ (561) $ 9,448 $ 9,448 Commercial mortgage-backed securities 3,123 — 90 (160) 3,053 3,053 Corporates 16,639 (5) 31 (2,481) 14,184 14,184 Hybrids 827 — 6 (64) 769 769 Municipals 1,489 — 3 (181) 1,311 1,311 Residential mortgage-backed securities 977 (4) 2 (73) 902 902 U.S. Government 544 — 1 (15) 530 530 Foreign Governments 272 — — (37) 235 235 Total available-for-sale securities $ 33,836 $ (11) $ 179 $ (3,572) $ 30,432 $ 30,432 December 31, 2021 Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for-sale securities Asset-backed securities $ 8,516 $ (3) $ 220 $ (38) $ 8,695 $ 8,695 Commercial mortgage-backed/asset-backed securities 2,684 (2) 308 (11) 2,979 2,979 Corporates 15,822 — 830 (158) 16,494 16,494 Hybrids 838 — 74 — 912 912 Municipals 1,445 — 67 (11) 1,501 1,501 Residential mortgage-backed securities 731 (3) 7 (4) 731 731 U.S. Government 393 — 3 (2) 394 394 Foreign Governments 276 — 9 (1) 284 284 Total available-for-sale securities $ 30,705 $ (8) $ 1,518 $ (225) $ 31,990 $ 31,990 Securities held on deposit with various state regulatory authorities had a fair value of $16,831 million and $22,343 million at June 30, 2022 and December 31, 2021, respectively. As of June 30, 2022 and December 31, 2021, the Company held no material investments that were non-income producing for a period greater than twelve months. As of June 30, 2022 and December 31, 2021, the Company's accrued interest receivable balance was $276 million and $253 million, respectively. Accrued interest receivable is classified within Prepaid expenses and other assets within the unaudited Condensed Consolidated Balance Sheets. In accordance with our FHLB agreements, the investments supporting the funding agreement liabilities are pledged as collateral to secure the FHLB funding agreement liabilities and are not available to us for general purposes. The collateral investments had a fair value of $3,030 million and $2,469 million as of June 30, 2022 and December 31, 2021, respectively. The amortized cost and fair value of fixed maturity securities by contractual maturities, as applicable, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. June 30, 2022 December 31, 2021 (in millions) (in millions) Amortized Cost Fair Value Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal and Government securities: Due in one year or less $ 524 $ 523 $ 426 $ 431 Due after one year through five years 3,386 3,218 2,998 3,051 Due after five years through ten years 2,103 1,918 2,389 2,458 Due after ten years 13,732 11,344 12,930 13,608 Subtotal 19,745 17,003 18,743 19,548 Other securities, which provide for periodic payments: Asset-backed securities 9,965 9,448 8,516 8,695 Commercial mortgage-backed securities 3,123 3,053 2,684 2,979 Structured hybrids 26 26 31 37 Residential mortgage-backed securities 977 902 731 731 Subtotal 14,091 13,429 11,962 12,442 Total fixed maturity available-for-sale securities $ 33,836 $ 30,432 $ 30,705 $ 31,990 Allowance for Expected Credit Loss We regularly review AFS securities for declines in fair value that we determine to be credit related. For our fixed maturity securities, we generally consider the following in determining whether our unrealized losses are credit related, and if so, the magnitude of the credit loss: • The extent to which the fair value is less than the amortized cost basis; • The reasons for the decline in value (credit event, currency or interest-rate related, including general credit spread widening); • The financial condition of and near-term prospects of the issuer (including issuer's current credit rating and the probability of full recovery of principal based upon the issuer's financial strength); • Current delinquencies and nonperforming assets of underlying collateral; • Expected future default rates; • Collateral value by vintage, geographic region, industry concentration or property type; • Subordination levels or other credit enhancements as of the balance sheet date as compared to origination; and • Contractual and regulatory cash obligations and the issuer's plans to meet such obligations. We recognize an allowance for current expected credit losses on fixed maturity securities in an unrealized loss position when it is determined, using the factors discussed above, a component of the unrealized loss is related to credit. We measure the credit loss using a discounted cash flow model that utilizes the single best estimate cash flow and the recognized credit loss is limited to the total unrealized loss on the security (i.e. the fair value floor). Cash flows are discounted using the implicit yield of bonds at their time of purchase and the current book yield for asset and mortgage backed securities as well as variable rate securities. We recognize the expected credit losses in Recognized gains and losses, net in the Consolidated Statements of Earnings, with an offset for the amount of non-credit impairments recognized in AOCI. We do not measure a credit loss allowance on accrued investment income because we write-off accrued interest through Interest and investment income when collectability concerns arise. We consider the following in determining whether write-offs of a security’s amortized cost is necessary: • We believe amounts related to securities have become uncollectible; • We intend to sell a security; or • It is more likely than not that we will be required to sell a security prior to recovery. If we intend to sell a fixed maturity security or it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis and the fair value of the security is below amortized cost, we will write down the security to current fair value, with a corresponding charge, net of any amount previously recognized as an allowance for expected credit loss, to Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings. If we do not intend to sell a fixed maturity security or it is more likely than not that we will not be required to sell a fixed maturity security before recovery of its amortized cost basis but believe amounts related to a security are uncollectible (generally based on proximity to expected credit loss), an impairment is deemed to have occurred and the amortized cost is written down to the estimated recovery value with a corresponding charge, net of any amount previously recognized as an allowance for expected credit loss, to Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings. The remainder of unrealized loss is held in AOCI. As of June 30, 2022 and December 31, 2021, our allowance for expected credit losses for AFS securities was $11 million and $8 million, respectively. PCDs are AFS securities purchased at a discount, where part of that discount is attributable to credit. Credit loss allowances are calculated for these securities as of the date of their acquisition, with the initial allowance serving to increase amortized cost. There were no purchases of PCD AFS securities during the three and six months ended June 30, 2022 or 2021. The fair value and gross unrealized losses of AFS securities, excluding securities in an unrealized loss position with an allowance for expected credit loss, aggregated by investment category and duration of fair value below amortized cost as of June 30, 2022 and December 31, 2021 were as follows (dollars in millions): June 30, 2022 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Fair Value Gross Unrealized Fair Value Gross Unrealized Available-for-sale securities Asset-backed securities $ 7,944 $ (490) $ 645 $ (71) $ 8,589 $ (561) Commercial mortgage-backed securities 1,788 (153) 48 (8) 1,836 (161) Corporates 11,593 (1,960) 1,414 (521) 13,007 (2,481) Hybrids 677 (64) 2 — 679 (64) Municipals 1,120 (158) 119 (23) 1,239 (181) Residential mortgage-backed securities 798 (67) 27 (6) 825 (73) U.S. Government 334 (12) 34 (2) 368 (14) Foreign Government 131 (31) 20 (6) 151 (37) Total available-for-sale securities $ 24,385 $ (2,935) $ 2,309 $ (637) $ 26,694 $ (3,572) Total number of available-for-sale securities in an unrealized loss position less than twelve months 3,441 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 291 Total number of available-for-sale securities in an unrealized loss position 3,732 December 31, 2021 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Fair Value Gross Unrealized Fair Value Gross Unrealized Available-for-sale securities Asset-backed securities $ 4,410 $ (31) $ 146 $ (7) $ 4,556 $ (38) Commercial mortgage-backed securities 603 (11) 1 — 604 (11) Corporates 5,391 (132) 394 (26) 5,785 (158) Hybrids 3 — — — 3 — Municipals 410 (5) 85 (6) 495 (11) Residential mortgage-backed securities 325 (3) 11 (1) 336 (4) U.S. Government 219 (2) 4 — 223 (2) Foreign Government 82 (1) 5 — 87 (1) Total available-for-sale securities $ 11,443 $ (185) $ 646 $ (40) $ 12,089 $ (225) Total number of available-for-sale securities in an unrealized loss position less than twelve months 2,056 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 68 Total number of available-for-sale securities in an unrealized loss position 2,124 We determined the increase in unrealized losses as of June 30, 2022 was caused by higher treasury rates as well as wider spreads. This is in part due to the Federal Reserve's action to increase rates in efforts to combat inflation. Inflation in the first quarter of 2022 has been compounded by supply chain issues stemming from additional COVID-19 restrictions in China, as well as higher energy prices as a result of the Russian-Ukrainian conflict. For securities in an unrealized loss position as of June 30, 2022, our allowance for expected credit loss was $11 million. We believe that unrealized loss position for which we have not recorded an allowance for expected credit loss as of June 30, 2022 was primarily attributable to interest rate increases, near-term illiquidity, and uncertainty caused by Russia's invasion of Ukraine as opposed to issuer specific credit concerns. Mortgage Loans Our mortgage loans are collateralized by commercial and residential properties. Commercial Mortgage Loans Commercial mortgage loans ("CMLs") represented approximately 7% of our total investments as of June 30, 2022. We primarily invest in mortgage loans on income producing properties including industrial properties, retail buildings, multifamily properties and office buildings. We diversify our CML portfolio by geographic region and property type to attempt to reduce concentration risk. We continuously evaluate CMLs based on relevant current information to ensure properties are performing at a consistent and acceptable level to secure the related debt. The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables (dollars in millions): June 30, 2022 December 31, 2021 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Hotel $ 18 1 % $ 19 1 % Industrial - General 486 20 % 497 23 % Mixed Use 12 1 % 13 1 % Multifamily 1,013 43 % 894 41 % Office 332 14 % 343 16 % Retail 107 5 % 121 6 % Student Housing 83 4 % 83 4 % Other 270 12 % 204 8 % Total commercial mortgage loans, gross of valuation allowance $ 2,321 100 % $ 2,174 100 % Allowance for expected credit loss (6) (6) Total commercial mortgage loans $ 2,315 $ 2,168 U.S. Region: East North Central $ 130 6 % $ 137 6 % East South Central 76 3 % 79 4 % Middle Atlantic 292 13 % 293 13 % Mountain 355 15 % 236 11 % New England 151 7 % 149 7 % Pacific 699 30 % 649 30 % South Atlantic 496 21 % 459 21 % West North Central 4 — % 12 1 % West South Central 118 5 % 160 7 % Total commercial mortgage loans, gross of valuation allowance $ 2,321 100 % $ 2,174 100 % Allowance for expected credit loss (6) (6) Total commercial mortgage loans $ 2,315 $ 2,168 Loan-to-value ("LTV") and debt service coverage ("DSC") ratios are measures commonly used to assess the risk and quality of mortgage loans. The LTV ratio is expressed as a percentage of the amount of the loan relative to the value of the underlying property. A LTV ratio in excess of 100% indicates the unpaid loan amount exceeds the underlying collateral. The DSC ratio, based upon the most recently received financial statements, is expressed as a percentage of the amount of a property’s net income to its debt service payments. A DSC ratio of less than 1.00 indicates that a property’s operations do not generate sufficient income to cover debt payments. The following tables present the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios at June 30, 2022 and December 31, 2021 (dollars in millions) : Debt-Service Coverage Ratios Total Amount % of Total Estimated Fair Value % of Total >1.25 1.00 - 1.25 <1.00 June 30, 2022 LTV Ratios: Less than 50% $ 398 $ 4 $ 9 $ 411 18 % $ 401 19 % 50% to 60% 771 — — 771 33 % 712 34 % 60% to 75% 1,130 — — 1,130 48 % 1,000 47 % 75% to 85% $ — $ 9 $ — $ 9 1 % 6 — % Commercial mortgage loans $ 2,299 $ 13 $ 9 $ 2,321 100 % $ 2,119 100 % December 31, 2021 LTV Ratios: Less than 50% $ 626 $ 33 $ 9 $ 668 31 % $ 745 33 % 50% to 60% 470 — — 470 22 % 481 21 % 60% to 75% 1,036 — — 1,036 47 % 1,039 46 % Commercial mortgage loans $ 2,132 $ 33 $ 9 $ 2,174 100 % $ 2,265 100 % We recognize a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At June 30, 2022 we had one CML that was delinquent in principal or interest payments as shown in the risk rating exposure table below. At December 31, 2021 we had no CMLs that were delinquent in principal or interest payments. Residential Mortgage Loans Residential mortgage loans ("RMLs") represented approximately 6% of our total investments as of June 30, 2022. Our residential mortgage loans are closed end, amortizing loans and 100% of the properties are located in the United States. We diversify our RML portfolio by state to attempt to reduce concentration risk. The distribution of RMLs by state with highest-to-lowest concentration are reflected in the following tables (dollars in millions): June 30, 2022 U.S. State: Amortized Cost % of Total Florida $ 302 14 % Texas 227 11 % New Jersey 171 8 % Pennsylvania 146 7 % California 145 7 % New York 137 6 % Georgia 117 5 % All Other States (1) 903 42 % Total residential mortgage loans $ 2,148 100 % (1) The individual concentration of each state is equal to or less than 5% as of June 30, 2022. December 31, 2021 U.S. State: Amortized Cost % of Total Florida $ 231 15 % Texas 167 10 % New Jersey 150 10 % All other states (1) 1,027 65 % Total residential mortgage loans $ 1,575 100 % (1) The individual concentration of each state is less than 9% as of December 31, 2021. Residential mortgage loans have a primary credit quality indicator of either a performing or nonperforming loan. We define non-performing residential mortgage loans as those that are 90 or more days past due or in nonaccrual status, which is assessed monthly. The credit quality of RMLs as of June 30, 2022 and December 31, 2021, was as follows (dollars in millions): June 30, 2022 December 31, 2021 Performance indicators: Carrying Value % of Total Carrying Value % of Total Performing $ 2,083 97 % $ 1,533 95 % Non-performing 68 3 % 73 5 % Total residential mortgage loans, gross of valuation allowance $ 2,151 100 % $ 1,606 100 % Allowance for expected loan loss (29) — % (25) — % Total residential mortgage loans $ 2,122 100 % $ 1,581 100 % Loans segregated by risk rating exposure as of June 30, 2022 and December 31, 2021, were as follows (in millions): June 30, 2022 Amortized Cost by Origination Year 2022 2021 2020 2019 2018 Prior Total Residential mortgages Current (less than 30 days past due) $ 605 $ 896 $ 244 $ 211 $ 29 $ 43 $ 2,028 30-89 days past due 15 19 5 14 1 — 54 Over 90 days past due — 6 16 46 1 — 69 Total residential mortgages $ 620 $ 921 $ 265 $ 271 $ 31 $ 43 $ 2,151 Commercial mortgages Current (less than 30 days past due) $ 229 $ 1,301 $ 509 $ — $ — $ 273 $ 2,312 30-89 days past due — — — — — — — Over 90 days past due — — — — — 9 9 Total commercial mortgages $ 229 $ 1,301 $ 509 $ — $ — $ 282 $ 2,321 December 31, 2021 Amortized Cost by Origination Year 2021 2020 2019 2018 2017 Prior Total Residential mortgages Current (less than 30 days past due) $ 795 $ 293 $ 323 $ 50 $ 36 $ 21 $ 1,518 30-89 days past due 5 4 6 1 — — 16 Over 90 days past due 1 23 46 2 — — 72 Total residential mortgages $ 801 $ 320 $ 375 $ 53 $ 36 $ 21 $ 1,606 Commercial mortgages Current (less than 30 days past due) $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 30-89 days past due — — — — — — — Over 90 days past due — — — — — — — Total commercial mortgage $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 June 30, 2022 Amortized Cost by Origination Year 2022 2021 2020 2019 2018 Prior Total Commercial mortgages LTV Less than 50% $ 14 $ 121 $ 153 $ — $ — $ 123 $ 411 50% to 60% 105 292 234 — — 140 771 60% to 75% 110 888 122 — — 10 1,130 75% to 85% — — — — — 9 9 Total commercial mortgages $ 229 $ 1,301 $ 509 $ — $ — $ 282 $ 2,321 Commercial mortgages DSCR Greater than 1.25x $ 229 $ 1,301 $ 509 $ — $ — $ 260 $ 2,299 1.00x - 1.25x — — — — — 13 13 Less than 1.00x — — — — — 9 9 Total commercial mortgages $ 229 $ 1,301 $ 509 $ — $ — $ 282 $ 2,321 December 31, 2021 Amortized Cost by Origination Year 2021 2020 2019 2018 2017 Prior Total Commercial mortgages LTV Less than 50% $ 120 $ 229 $ — $ 6 $ — $ 313 $ 668 50% to 60% 267 192 — — — 11 470 60% to 75% 914 122 — — — — 1,036 Total commercial mortgages $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 Commercial mortgages DSCR Greater than 1.25x $ 1,301 $ 543 $ — $ 4 $ — $ 284 $ 2,132 1.00x - 1.25x — — — 2 — 31 33 Less than 1.00x — — — — — 9 9 Total commercial mortgages $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 Non-accrual loans by amortized cost as of June 30, 2022 and December 31, 2021, were as follows (in millions): Amortized cost of loans on non-accrual June 30, 2022 December 31, 2021 Residential mortgage: $ 69 $ 72 Commercial mortgage: — — Total non-accrual loans $ 69 $ 72 Immaterial interest income was recognized on non-accrual financing receivables for the three and six months ended June 30, 2022. It is our policy to cease to accrue interest on loans that are over 90 days delinquent. For loans less than 90 days delinquent, interest is accrued unless it is determined that the accrued interest is not collectible. If a loan becomes over 90 days delinquent, it is our general policy to initiate foreclosure proceedings unless a workout arrangement to bring the loan current is in place. As of June 30, 2022 and December 31, 2021, we had $69 million and $72 million, respectively, of residential mortgage loans that were over 90 days past due, of which $38 million and $39 million was in the process of foreclosure as of June 30, 2022 and December 31, 2021, respectively. We will continue to evaluate these policies with regard to the economic challenges for mortgage debtors related to COVID-19. Our ability to initiate foreclosure proceedings may be limited by legislation passed and executive orders issued in response to COVID-19. Allowance for Expected Credit Loss We estimate expected credit losses for our commercial and residential mortgage loan portfolios using a probability of default/loss given default model. Significant inputs to this model include, where applicable, the loans' current performance, underlying collateral type, location, contractual life, LTV, DSC and Debt to Income or FICO. The model projects losses using a two year reasonable and supportable forecast and then reverts over a three year period to market-wide historical loss experience. Changes in our allowance for expected credit losses on mortgage loans are recognized in Recognized gains and losses, net in the accompanying unaudited Condensed Consolidated Statements of Earnings. The allowances for our mortgage loan portfolio is summarized as follows (in millions): Three months ended June 30, 2022 Six months ended June 30, 2022 Residential Mortgage Commercial Mortgage Total Residential Mortgage Commercial Mortgage Total Beginning Balance $ 26 $ 6 $ 32 $ 25 $ 6 $ 31 Provision for loan losses 3 — 3 4 — 4 Ending Balance $ 29 $ 6 $ 35 $ 29 $ 6 $ 35 Three months ended June 30, 2021 Six months ended June 30, 2021 Residential Mortgage Commercial Mortgage Total Residential Mortgage Commercial Mortgage Total Beginning Balance $ 31 $ 5 $ 36 $ 37 $ 2 $ 39 Provision for loan losses (3) 1 (2) (9) 4 (5) Ending Balance $ 28 $ 6 $ 34 $ 28 $ 6 $ 34 An allowance for expected credit loss is not measured on accrued interest income for commercial mortgage loans as we have a process to write-off interest on loans that enter into non-accrual status (over 90 days past due). Allowances for expected credit losses are measured on accrued interest income for residential mortgage loans and were immaterial as of June 30, 2022 and December 31, 2021. Interest and Investment Income The major sources of Interest and investment income reported on the accompanying unaudited Condensed Consolidated Statements of Earnings were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Fixed maturity securities, available-for-sale $ 350 $ 325 $ 682 $ 631 Equity securities 7 5 15 10 Preferred securities 20 18 35 32 Mortgage loans 49 33 88 56 Invested cash and short-term investments 13 1 18 1 Limited partnerships 58 164 171 244 Tax deferred property exchange income 10 4 14 9 Other investments 4 6 13 14 Gross investment income 511 556 1,036 997 Investment expense (48) (42) (95) (81) Interest and investment income $ 463 $ 514 $ 941 $ 916 Recognized Gains and Losses, net Details underlying Recognized gains and losses, net reported on the accompanying unaudited Condensed Consolidated Statements of Earnings were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Net realized (losses) gains on fixed maturity available-for-sale securities $ (61) $ 13 $ (98) $ 53 Net realized/unrealized losses on equity securities (1) (221) (42) (370) (88) Net realized/unrealized (losses) gains on preferred securities (2) (118) 15 (208) 6 Realized (losses) gains on other invested assets (9) 12 (10) 8 Change in allowance for expected credit losses (9) (4) (12) 6 Derivatives and embedded derivatives: Realized (losses) gains on certain derivative instruments (35) 120 15 180 Unrealized (losses) gains on certain derivative instruments (359) 142 (717) 107 Change in fair value of reinsurance related embedded derivatives (3) 141 (27) 263 — Change in fair value of other derivatives and embedded derivatives (5) 3 (8) 3 Realized (losses) gains on derivatives and embedded derivatives (258) 238 (447) 290 Recognized gains and losses, net $ (676) $ 232 $ (1,145) $ 275 (1) Includes net valuation losses of $(222) million and $(46) million for the three months ended June 30, 2022 and 2021, respectively, and net valuation losses of $(388) million and $(92) million for the six months ended June 30, 2022 and 2021, respectively. (2) Includes net valuation (losses) gains of $(118) million and $7 million for the three months ended June 30, 2022 and 2021, respectively, and net valuation (losses) gains of $(207) million and $4 million for the six months ended June 30, 2022 and 2021, respectively. (3) Change in fair value of reinsurance related embedded derivatives is due to activity related to the reinsurance treaties with Kubera (novated from Kubera to Sommerset effective October 31, 2021) and Aspida Re. The proceeds from the sale of fixed-maturity securities and the gross gains and losses associated with those transactions were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Proceeds $ 802 $ 444 $ 1,835 $ 869 Gross gains 1 36 5 68 Gross losses (61) (8) (99) (16) Unconsolidated Variable Interest Entities We own investments in VIEs that are not consolidated within our financial statements. A VIE is an entity that does not have sufficient equity to finance its own activities without additional financial support, where investors lack certain characteristics of a controlling financial interest, or where the entity is structured with non-substantive voting rights. VIEs are consolidated by their ‘primary beneficiary’, a designation given to an entity that receives both the benefits from the VIE as well as the substantive power to make its key economic decisions. While we participate in the benefits from VIEs in which we invest, but do not consolidate, the substantive power to make the key economic decisions for each respective VIE resides with entities not under our common control. It is for this reason that we are not considered the primary beneficiary for the VIE investments that are not consolidated. We invest in various limited partnerships and limited liability companies primarily as a passive investor. These investments are primarily in credit funds with a bias towards current income, real assets, or private equity. Limited partnership and limited liability company interests are accounted for under the equity method and are included in Investments in unconsolidated affiliates on our unaudited Condensed Consolidated Balance Sheets. In addition, we invest in structured investments, which may be VIEs, but for which we are not the primary beneficiary. These structured investments typically invest in fixed income investments and are managed by third parties and include asset-backed securities, commercial mortgage-backed securities and residential mortgage-backed securities included in fixed maturity securities available for sale on our unaudited Condensed Consolidated Balance Sheets. Our maximum exposure to loss with respect to these VIEs is limited to the investment carrying amounts reported in our unaudited Condensed Consolidated Balance Sheets for limited partnerships and the amortized costs of our fixed maturity securities, in addition to any required unfunded commitments (also refer to Note F Commitments and Contingencies ). The following table summarizes the carrying value and the maximum loss exposure of our unconsolidated VIEs as of June 30, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment in limited partnerships $ 2,668 $ 4,343 $ 2,350 $ 3,496 Fixed maturity securities 13,026 14,255 12,382 12,802 Total unconsolidated VIE investments $ 15,694 $ 18,598 $ 14,732 $ 16,298 Concentrations Our underlying investment concentrations that exceed 10% of shareholders equity are as follows (in millions): June 30, 2022 Blackstone Wave Asset Holdco (1) 960 Jade 22 (2) 855 (1) Represents a special purpose vehicle that holds investments in numerous limited partnership investments whose underlying investments are further diversified by holding interest in multiple individual investments and industries. (2) Represents a special purpose vehicle that holds numerous underlying corporate loans across various industries. Investment in Cannae Holdings, Inc. ("Cannae") Included in equity securities as of December 31, 2021 were 5,775,598 shares of Cannae common stock (NYSE: CNNE). The fair value of this investment based on quoted market prices as of December 31, 2021 was $203 million. During the three months ended June 30, 2022, we sold 4,775,598 shares of CNNE common stock back to Cannae for approximately $85 million in the aggregate. During the six months ended June 30, 2022, we sold 5,775,598 shares of CNNE common stock back to Cannae for approximately $109 million in the aggregate. As of June 30, 2022, we held no shares of CNNE common stock.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
Derivative Financial Instruments	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The carrying amounts of derivative instruments, including derivative instruments embedded in FIA and IUL contracts, and reinsurance is as follows (in millions): June 30, 2022 December 31, 2021 Assets: Derivative investments: Call options $ 145 $ 816 Foreign currency forward 1 — Other long-term investments: Other embedded derivatives 24 33 Prepaid expenses and other assets: Reinsurance related embedded derivatives 190 — $ 360 $ 849 Liabilities: Contractholder funds: FIA/ IUL embedded derivatives $ 2,941 $ 3,883 Accounts payable and accrued liabilities: Reinsurance related embedded derivatives — 73 $ 2,941 $ 3,956 The change in fair value of derivative instruments included within Recognized gains and losses, net, in the accompanying unaudited Condensed Consolidated Statements of Earnings is as follows (in millions): Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Net investment gains (losses): Call options $ (395) $ 257 $ (709) $ 279 Futures contracts (8) 5 (5) 4 Foreign currency forwards 9 — 12 4 Other derivatives and embedded derivatives (5) 3 (8) 3 Reinsurance related embedded derivatives 141 (27) 263 — Total net investment gains (losses) $ (258) $ 238 $ (447) $ 290 Benefits and other changes in policy reserves: FIA/ IUL embedded derivatives $ (454) $ 466 $ (942) $ 355 Additional Disclosures FIA/IUL Embedded Derivative and Call Options and Futures We have FIA and IUL contracts that permit the holder to elect an interest rate return or an equity index linked component, where interest credited to the contracts is linked to the performance of various equity indices, primarily the S&P 500 Index. This feature represents an embedded derivative under GAAP. The FIA/IUL embedded derivatives are valued at fair value and included in the liability for contractholder funds in the accompanying unaudited Condensed Consolidated Balance Sheets with changes in fair value included as a component of Benefits and other changes in policy reserves in the unaudited Condensed Consolidated Statements of Earnings. See a description of the fair value methodology used in Note C Fair Value of Financial Instruments . We purchase derivatives consisting of a combination of call options and futures contracts (specifically for FIA contracts) on the applicable market indices to fund the index credits due to FIA/IUL contractholders. The call options are one two three five Other market exposures are hedged periodically depending on market conditions and our risk tolerance. Our FIA/IUL hedging strategy economically hedges the equity returns and exposes us to the risk that unhedged market exposures result in divergence between changes in the fair value of the liabilities and the hedging assets. We use a variety of techniques, including direct estimation of market sensitivities, to monitor this risk daily. We intend to continue to adjust the hedging strategy as market conditions and our risk tolerance changes. Credit Risk We are exposed to credit loss in the event of non-performance by our counterparties on the call options and reflect assumptions regarding this non-performance risk in the fair value of the call options. The non-performance risk is the net counterparty exposure based on the fair value of the open contracts less collateral held. We maintain a policy of requiring all derivative contracts to be governed by an International Swaps and Derivatives Association (“ISDA”) Master Agreement. Information regarding our exposure to credit loss on the call options we hold is presented in the following table (in millions): June 30, 2022 Counterparty Credit Rating Notional Fair Value Collateral Net Credit Risk Merrill Lynch AA//A+ $ 3,735 $ 30 $ — $ 30 Morgan Stanley /Aa3/A+ 1,581 6 7 — Barclay's Bank A+/A1/A 5,421 46 48 — Canadian Imperial Bank of Commerce AA/Aa2/A+ 3,832 22 26 — Wells Fargo A+/A1/BBB+ 1,945 12 13 — Goldman Sachs A/A2/BBB+ 660 4 4 — Credit Suisse A-/A1/A 1,157 4 4 — Truist A+/A2/A 2,476 21 22 — Total $ 20,807 $ 145 $ 124 $ 30 December 31, 2021 Counterparty Credit Rating Notional Fair Value Collateral Net Credit Risk Merrill Lynch AA//A+ $ 3,307 $ 128 $ 86 $ 42 Morgan Stanley /Aa3/A+ 2,184 86 92 — Barclay's Bank A+/A1/A 5,197 231 233 — Canadian Imperial Bank of Commerce AA/Aa2/A+ 2,936 147 151 — Wells Fargo A+/A1/BBB+ 2,445 89 90 — Goldman Sachs A/A2/BBB+ 307 10 10 — Credit Suisse A/A1/A+ 1,485 74 75 — Truist A+/A2/A 1,543 51 53 — Total $ 19,404 $ 816 $ 790 $ 42 (1) An * represents credit ratings that were not available. Collateral Agreements We are required to maintain minimum ratings as a matter of routine practice as part of our over-the-counter derivative agreements on ISDA forms. Under some ISDA agreements, we have agreed to maintain certain financial strength ratings. A downgrade below these levels provides the counterparty under the agreement the right to terminate the open option contracts between the parties, at which time any amounts payable by us or the counterparty would be dependent on the market value of the underlying option contracts. Our current rating does not allow any counterparty the right to terminate ISDA agreements. In certain transactions, both us and the counterparty have entered into a collateral support agreement requiring either party to post collateral when the net exposures exceed pre-determined thresholds. For all counterparties, except Merrill Lynch, this threshold is set to zero. As of June 30, 2022 and December 31, 2021 counterparties posted $124 million and $790 million, respectively, of collateral of which $98 million and $576 million, respectively, is included in cash and cash equivalents with an associated payable for this collateral included in accounts payable and accrued liabilities on the unaudited Condensed Consolidated Balance Sheet. Accordingly, the maximum amount of loss due to credit risk that we would incur if parties to the call options failed completely to perform according to the terms of the contracts was $30 million at June 30, 2022 and $42 million at December 31, 2021. We are required to pay counterparties the effective federal funds rate each day for cash collateral posted to F&G for daily mark to market margin changes. We reinvest derivative cash collateral to reduce the interest cost. Cash collateral is invested in overnight investment sweep products, which are included in cash and cash equivalents in the accompanying unaudited Condensed Consolidated Balance Sheets. We held 349 and 329 futures contracts at June 30, 2022 and December 31, 2021, respectively. The fair value of the futures contracts represents the cumulative unsettled variation margin (open trade equity, net of cash settlements). We provide cash collateral to the counterparties for the initial and variation margin on the futures contracts, which is included in cash and cash equivalents in the accompanying unaudited Condensed Consolidated Balance Sheets. The amount of cash collateral held by the counterparties for such contracts was $3 million at June 30, 2022 and December 31, 2021. Reinsurance Related Embedded Derivatives F&G entered into a reinsurance agreement with Kubera effective December 31, 2018, to cede certain multi-year guaranteed annuity ("MYGA") and deferred annuity business on a coinsurance funds withheld basis, net of applicable existing reinsurance. Effective October 31, 2021, this agreement was novated from Kubera to Somerset, a certified third-party reinsurer. Additionally, F&G entered into a reinsurance agreement with Aspida Re effective January 1, 2021, to cede a quota share of certain deferred annuity business on a funds withheld basis. Fair value movements in the funds withheld balances associated with these arrangements creates an obligation for F&G to pay Somerset and Aspida Re at a later date, which results in embedded derivatives. These embedded derivatives are considered total return swaps with contractual returns that are attributable to the assets and liabilities associated with the reinsurance arrangements. The fair value of the total return swap is based on

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal and Regulatory Contingencies In the ordinary course of business, we are involved in various pending and threatened litigation matters related to our operations, some of which include claims for punitive or exemplary damages. With respect to our title insurance operations, this customary litigation includes but is not limited to a wide variety of cases arising out of or related to title and escrow claims, for which we make provisions through our loss reserves. See Note B Summary of Reserve for Title Claim Losses for further discussion. Additionally, like other companies, our ordinary course litigation includes a number of class action and purported class action lawsuits, which make allegations related to aspects of our operations. We believe that no actions, other than the matters discussed below, if any, depart from customary litigation incidental to our business. We review lawsuits and other legal and regulatory matters (collectively “legal proceedings”) on an ongoing basis when making accrual and disclosure decisions. When assessing reasonably possible and probable outcomes, management bases its decision on its assessment of the ultimate outcome assuming all appeals have been exhausted. For legal proceedings in which it has been determined that a loss is both probable and reasonably estimable, a liability based on known facts and that represents our best estimate has been recorded. Our accrual for legal and regulatory matters was $16 million and $12 million as of June 30, 2022 and December 31, 2021, respectively. None of the amounts we have currently recorded are considered to be material to our financial condition individually or in the aggregate. Actual losses may materially differ from the amounts recorded and the ultimate outcome of our pending legal proceedings is generally not yet determinable. While some of these matters could be material to our operating results or cash flows for any particular period if an unfavorable outcome results, at present we do not believe that the ultimate resolution of currently pending legal proceedings, either individually or in the aggregate, will have a material adverse effect on our financial condition. Two lawsuits have been filed related to FNF’s acquisition of F&G. On August 4, 2020, a stockholder derivative lawsuit styled, City of Miami General Employees’ and Sanitation Employees’ Retirement Trust v. Fidelity National Financial, et al. , was filed in the Court of Chancery of the State of Delaware against the Company, its Board of Directors and others alleging breach of fiduciary duties as directors and officers relating to FNF’s acquisition of F&G. The Company’s Board of Directors (“Board”) designated a Special Litigation Committee (the “SLC”) consisting of three of the Board’s Directors, and authorized the SLC, among other things, to investigate and evaluate the claims and allegations asserted in the lawsuit. The Board gave the SLC the sole authority and power to consider and determine whether or not prosecution of the claims asserted in the lawsuit is in the best interest of the Company and its shareholders, and what action the Company should take with respect to the lawsuit. On January 24, 2022, the SLC, acting on behalf of FNF, and the other parties to the lawsuit reached an agreement to settle the action subject to various terms and conditions. On June 21, 2022, an order was entered approving the settlement and dismissing the case with prejudice. On August 17, 2020, a lawsuit styled , In the Matter of FGL Holdings , was filed in the Grand Court of the Cayman Islands where dissenting shareholders, Kingfishers LP, Kingstown 1740 Fund LP, Kingstown Partners II LP, Kingstown Partners Master Ltd., and Ktown LP, have asserted statutory appraisal rights relative to their ownership of 12,000,000 shares of F&G stock in connection with the acquisition. They seek a judicial determination of the fair value of their shares of F&G stock under the law of the Cayman Islands, together with interest. A trial was held in late May and early June 2022 in the Cayman Islands, and a decision on the matter is pending with the court. We do not believe the result in this case will have a material adverse effect on our financial condition. From time to time we receive inquiries and requests for information from state insurance departments, attorneys general and other regulatory agencies about various matters relating to our business. Sometimes these take the form of civil investigative demands or subpoenas. We cooperate with all such inquiries and we have responded to or are currently responding to inquiries from multiple governmental agencies. Also, regulators and courts have been dealing with issues arising from foreclosures and related processes and documentation. Various governmental entities are studying the title insurance product, market, pricing, and business practices, and potential regulatory and legislative changes, which may materially affect our business and operations. From time to time, we are assessed fines for violations of regulations or other matters or enter into settlements with such authorities, which may require us to pay fines or claims or take other actions. We do not anticipate such fines and settlements, either individually or in the aggregate, will have a material adverse effect on our financial condition. F&G Commitments In our F&G segment, we have unfunded investment commitments as of June 30, 2022 based upon the timing of when investments are executed compared to when the actual investments are funded, as some investments require that funding occur over a period of months or years. A summary of unfunded commitments by invested asset class as of June 30, 2022 is included below (in millions): June 30, 2022 Asset Type Unconsolidated VIEs: Limited partnerships $ 1,675 Whole loans 377 Fixed maturity securities, ABS 197 Other fixed maturity securities, AFS 94 Commercial mortgage loans 30 Other assets 137 Residential mortgage loans 1 Committed amounts included in liabilities 1 Total $ 2,512

Dividends

Dividends	6 Months Ended
Dividends	Jun. 30, 2022
Equity [Abstract]
Dividends	DividendsOn August 2, 2022, our Board of Directors declared cash dividends of $0.44 per share, payable on September 30, 2022, to FNF common shareholders of record as of September 16, 2022.

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information Summarized financial information concerning our reportable segments is shown in the following tables. As of and for the three months ended June 30, 2022: Title F&G Corporate and Other Total (In millions) Title premiums $ 2,062 $ — $ — $ 2,062 Other revenues 706 68 8 782 Revenues from external customers 2,768 68 8 2,844 Interest and investment income, including recognized gains and losses, net (214) (1) 2 (213) Total revenues 2,554 67 10 2,631 Depreciation and amortization 34 121 6 161 Interest expense — 9 22 31 Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of unconsolidated affiliates 267 290 (19) 538 Income tax expense (benefit) 111 60 (7) 164 Earnings (loss) from continuing operations before equity in earnings (loss) of unconsolidated affiliates 156 230 (12) 374 Equity in earnings of unconsolidated affiliates 14 — — 14 Net earnings (loss) from continuing operations $ 170 $ 230 $ (12) $ 388 Assets $ 9,309 $ 49,608 $ 2,313 $ 61,230 Goodwill 2,516 1,756 266 4,538 As of and for the three months ended June 30, 2021: Title F&G Corporate and Other Total (In millions) Title premiums $ 2,160 $ — $ — $ 2,160 Other revenues 839 62 47 948 Revenues from external customers 2,999 62 47 3,108 Interest and investment income, including recognized gains and losses, net (3) 740 9 746 Total revenues 2,996 802 56 3,854 Depreciation and amortization 34 65 6 105 Interest expense — 7 21 28 Earnings (loss) from continuing operations before income taxes and equity in earnings of unconsolidated affiliates 644 97 (28) 713 Income tax expense (benefit) 160 21 (5) 176 Earnings (loss) from continuing operations before equity in earnings (loss) of unconsolidated affiliates 484 76 (23) 537 Equity in earnings (loss) of unconsolidated affiliates 14 — — 14 Net earnings (loss) from continuing operations $ 498 $ 76 $ (23) $ 551 Assets $ 9,565 $ 43,206 $ 1,749 $ 54,520 Goodwill 2,484 1,756 266 4,506 As of and for the six months ended June 30, 2022: Title F&G Corporate and Other Total (In millions) Title premiums $ 3,928 $ — $ — $ 3,928 Other revenues 1,371 662 39 2,072 Revenues from external customers 5,299 662 39 6,000 Interest and investment income, including recognized gains and losses, net (362) 153 5 (204) Total revenues 4,937 815 44 5,796 Depreciation and amortization 67 264 12 343 Interest expense — 17 44 61 Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of unconsolidated affiliates 516 631 (57) 1,090 Income tax expense (benefit) 168 165 (14) 319 Earnings (loss) from continuing operations before equity in earnings (loss) of unconsolidated affiliates 348 466 (43) 771 Equity in earnings of unconsolidated affiliates 16 — — 16 Net earnings (loss) from continuing operations $ 364 $ 466 $ (43) $ 787 Assets $ 9,309 $ 49,608 $ 2,313 $ 61,230 Goodwill 2,516 1,756 266 4,538 As of and for the six months ended June 30, 2021: Title F&G Corporate and Other Total (In millions) Title premiums $ 3,964 $ — $ — $ 3,964 Other revenues 1,584 126 89 1,799 Revenues from external customers 5,548 126 89 5,763 Interest and investment income, including recognized gains and losses, net (33) 1,215 9 1,191 Total revenues 5,515 1,341 98 6,954 Depreciation and amortization 67 209 12 288 Interest expense — 15 41 56 Earnings (loss) from continuing operations before income taxes and equity in earnings of unconsolidated affiliates 1,083 453 (66) 1,470 Income tax expense (benefit) 263 93 (14) 342 Earnings (loss) from continuing operations before equity in earnings (loss) of unconsolidated affiliates 820 360 (52) 1,128 Equity in earnings (loss) of unconsolidated affiliates 22 — 5 27 Net earnings (loss) $ 842 $ 360 $ (47) $ 1,155 Assets $ 9,565 $ 43,206 $ 1,749 $ 54,520 Goodwill 2,484 1,756 266 4,506 The activities in our segments include the following: • Title. This segment consists of the operations of our title insurance underwriters and related businesses. This segment provides core title insurance and escrow and other title-related services including loan sub-servicing, valuations, default services, and home warranty products. • F&G . This segment primarily consists of the operations of our annuities and life insurance related businesses. This segment issues a broad portfolio of annuity and life products, including deferred annuities (fixed indexed and fixed rate annuities), immediate annuities and indexed universal life insurance. This segment also provides funding agreements and pension risk transfer solutions ("PRT"). • Corporate and Other. This segment consists of the operations of the parent holding company, our real estate technology subsidiaries and our remaining real estate brokerage businesses. This segment also includes certain other unallocated corporate overhead expenses and eliminations of revenues and expenses between it and our Title segment.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
Supplemental Cash Flow Information	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following supplemental cash flow information is provided with respect to certain cash payment and non-cash investing and financing activities. Six months ended June 30, 2022 2021 Cash paid for: Interest $ 63 $ 56 Income taxes 202 307 Deferred sales inducements 38 44 Non-cash investing and financing activities: Change in proceeds of sales of investments available for sale receivable in period 151 (1) Change in purchases of investments available for sale payable in period 212 60 Change in contractholder deposits for FABN issuance 300 — Lease liabilities recognized in exchange for lease right-of-use assets 42 18 Remeasurement of lease liabilities 41 37

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of Revenue Our revenue consists of: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Revenue Stream Income Statement Classification Segment Total Revenue Revenue from insurance contracts: (in millions) Direct title insurance premiums Direct title insurance premiums Title $ 859 $ 904 $ 1,626 $ 1,650 Agency title insurance premiums Agency title insurance premiums Title 1,203 1,256 2,302 2,314 Life insurance premiums, insurance and investment product fees, and other Escrow, title-related and other fees F&G 68 62 662 126 Home warranty Escrow, title-related and other fees Title 43 48 77 87 Total revenue from insurance contracts 2,173 2,270 4,667 4,177 Revenue from contracts with customers: Escrow fees Escrow, title-related and other fees Title 294 374 559 698 Other title-related fees and income Escrow, title-related and other fees Title 210 232 406 437 ServiceLink, excluding title premiums, escrow fees, and subservicing fees Escrow, title-related and other fees Title 92 97 186 187 Real estate technology Escrow, title-related and other fees Corporate and other 41 24 79 56 Other Escrow, title-related and other fees Corporate and other (33) 23 (40) 33 Total revenue from contracts with customers 604 750 1,190 1,411 Other revenue: Loan subservicing revenue Escrow, title-related and other fees Title 67 88 143 175 Interest and investment income Interest and investment income Various 463 514 941 916 Recognized gains and losses, net Recognized gains and losses, net Various (676) 232 (1,145) 275 Total revenues Total revenues $ 2,631 $ 3,854 $ 5,796 $ 6,954 Our Direct title insurance premiums are recognized as revenue at the time of closing of the underlying transaction as the earnings process is then considered complete. Regulation of title insurance rates varies by state. Premiums are charged to customers based on rates predetermined in coordination with each states' respective Department of Insurance. Cash associated with such revenue is typically collected at closing of the underlying real estate transaction. Premium revenues from agency title operations are recognized when the underlying title order and transaction closing, if applicable, are complete. Revenues from our home warranty business are generated from contracts with customers to provide warranty for major home appliances. Substantially all of our home warranty contracts are one year in length and revenue is recognized ratably over the term of the contract. Escrow fees and Other title-related fees and income in our Title segment are closely related to Direct title insurance premiums and are primarily associated with managing the closing of real estate transactions, including the processing of funds on behalf of the transaction participants, gathering and recording the required closing documents, providing notary and home inspection services, and other real estate or title-related activities. Revenue is primarily recognized upon closing of the underlying real estate transaction or completion of services. Cash associated with such revenue is typically collected at closing. Revenues from ServiceLink, excluding its title premiums, escrow fees and loan subservicing fees primarily include revenues from real estate appraisal services and foreclosure processing and facilitation services. Revenues from real estate appraisal services are recognized when all appraisal work is complete, a final report is issued to the client and the client is billed. Revenues from foreclosure processing and facilitation services are primarily recognized upon completion of the services and when billing to the client is complete. Life insurance premiums in our F&G segment reflect premiums for life-contingent PRT, traditional life insurance products and life-contingent immediate annuity products, which are recognized as revenue when due from the policyholder. We have ceded the majority of our traditional life business to unaffiliated third party reinsurers. While the base contract has been reinsured, we continue to retain the return of premium rider. Insurance and investment product fees and other consist primarily of the cost of insurance on IUL policies, unearned revenue ("UREV") on IUL policies, policy rider fees primarily on FIA policies and surrender charges assessed against policy withdrawals in excess of the policyholder's allowable penalty-free amounts. Premium and annuity deposit collections for FIA, fixed rate annuities, immediate annuities and PRT without life contingency, and amounts received for funding agreements are reported in the financial statements as deposit liabilities (i.e., contractholder funds) instead of as sales or revenues. Similarly, cash payments to customers are reported as decreases in the liability for contractholder funds and not as expenses. Sources of revenues for products accounted for as deposit liabilities include net investment income, surrender, cost of insurance and other charges deducted from contractholder funds, and net realized gains (losses) on investments. Components of expenses for products accounted for as deposit liabilities are interest-sensitive and index product benefits (primarily interest credited to account balances or the hedging cost of providing index credits to the policyholder), amortization of VOBA, DAC, and DSI, other operating costs and expenses, and income taxes. Real estate technology revenues are primarily comprised of subscription fees for use of software provided to real estate professionals. Subscriptions are only offered on a month-by-month basis and fees are billed monthly. Revenue is recognized in the month services are provided. Loan subservicing revenues are generated by certain subsidiaries of ServiceLink and are associated with the servicing of mortgage loans on behalf of its customers. Revenue is recognized when the underlying work is performed and billed. Loan subservicing revenues are subject to the recognition requirements of ASC Topic 860. Interest and investment income consists primarily of interest payments received on fixed maturity security holdings and dividends received on equity and preferred security holdings along with the investment income of limited partnerships. We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, primarily related to revenue from our home warranty business, and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. Contract Balances The following table provides information about trade receivables and deferred revenue: June 30, 2022 December 31, 2021 (In millions) Trade receivables $ 497 $ 524 Deferred revenue (contract liabilities) 257 144 Deferred revenue is recorded primarily for our home warranty contracts. Revenues from home warranty products are recognized over the life of the policy, which is primarily one year. The unrecognized portion is recorded as deferred revenue in accounts payable and other accrued liabilities in the unaudited Condensed Consolidated Balance Sheets. During the three months and six months ended June 30, 2022, we recognized $44 million and $69 million of revenue, respectively, which was included in deferred revenue at the beginning of the respective period.

Value of Business Acquired, Def

Value of Business Acquired, Deferred Acquisition Costs and Deferred Sales Inducements	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Value of Business Acquired, Deferred Acquisition Costs and Deferred Sales Inducements	Value of Business Acquired, Deferred Acquisition Costs and Deferred Sales Inducements A summary of the changes in the carrying amounts of our VOBA, DAC and DSI intangible assets is as follows (in millions): VOBA DAC DSI Total Balance at January 1, 2022 $ 1,185 $ 761 $ 88 $ 2,034 Deferrals — 334 38 372 Amortization (177) (80) (25) (282) Interest 13 12 1 26 Unlocking 2 (1) 5 6 Adjustment for net unrealized investment (gains) losses 577 156 49 782 Balance at June 30, 2022 $ 1,600 $ 1,182 $ 156 $ 2,938 VOBA DAC DSI Total Balance at January 1, 2021 $ 1,466 $ 222 $ 36 $ 1,724 Deferrals — 278 44 322 Amortization (204) (16) (12) (232) Interest 15 5 — 20 Unlocking 16 — 1 17 Adjustment for net unrealized investment (gains) losses (15) (27) (5) (47) Purchase price allocation adjustments 61 — — 61 Balance at June 30, 2021 $ 1,339 $ 462 $ 64 $ 1,865 Amortization of VO BA, DAC, and DSI is based on the current and future expected gross margins or profits recognized, including investment gains and losses. The interest accrual rate utilized to calculate the accretion of interest on VOBA ranged from 0% to 4.71%. The adjustment for unrealized net investment losses (gains) represents the amount of VOBA, DAC, and DSI that would have been amortized if such unrealized gains and losses had been recognized. This is referred to as the “shadow adjustments” as the additional amortization is reflected in AOCI rather than the unaudited Condensed Consolidated Statements of Earnings. As of June 30, 2022 and June 30, 2021, the VOBA balances included cumulative adjustments for net unrealized investment gains (losses) of $(345) million and $298 million, respectively, the DAC balances included cumulative adjustments for net unrealized investment gains (losses) of $(117) million and $53 million, respectively, and the DSI balance included net unrealized investment gains (losses) of $(42) million and $10 million, respectively. For the in-force liabilities as of June 30, 2022, the estimated amortization expense for VOBA in future fiscal periods is as follows (in millions): Estimated Amortization Expense Fiscal Year 2022 $ (17) 2023 86 2024 177 2025 161 2026 145 Thereafter 703

F&G Reinsurance

F&G Reinsurance	6 Months Ended
F&G Reinsurance	Jun. 30, 2022
Reinsurance Disclosures [Abstract]
F&G Reinsurance	F&G Reinsurance F&G reinsures portions of its policy risks with other insurance companies. The use of indemnity reinsurance does not discharge an insurer from liability on the insurance ceded. The insurer is required to pay in full the amount of its insurance liability regardless of whether it is entitled to or able to receive payment from the reinsurer. The portion of risks exceeding F&G's retention limit is reinsured. F&G primarily seeks reinsurance coverage in order to limit its exposure to mortality losses and enhance capital management. If the underlying policy being reinsured is an insurance contract, F&G follows reinsurance accounting when there is adequate risk transfer or deposit accounting if there is inadequate risk transfer. If the underlying policy being reinsured is an investment contract, the effects of the agreement are accounted for as a separate investment contract. The effects of reinsurance on net premiums earned and net benefits incurred (benefits paid and reserve changes) for the three and six months ended June 30, 2022 and June 30, 2021 were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 39 $ 184 $ 44 $ 891 $ 606 $ 697 $ 87 $ 1,185 Ceded (35) (602) (38) (316) (67) (907) (71) (636) Net $ 4 $ (418) $ 6 $ 575 $ 539 $ (210) $ 16 $ 549 Amounts payable or recoverable for reinsurance on paid and unpaid claims are not subject to periodic or maximum limits. F&G did not write off any significant reinsurance balances during the six months ended June 30, 2022 and June 30, 2021. F&G did not commute any ceded reinsurance treaties during the six months ended June 30, 2022 and June 30, 2021. F&G estimates expected credit losses on reinsurance recoverables using a probability of default/loss given default model. Significant inputs to the model include the reinsurer's credit risk, expected timing of recovery, industry-wide historical default experience, senior unsecured bond recovery rates, and credit enhancement features. As of June 30, 2022 and June 30, 2021, the expected credit loss reserve was $19 million and $20 million, respectively. There were no significant changes in the expected credit loss reserve for the three and six months ended June 30, 2022 and June 30, 2021. No policies issued by F&G have been reinsured with any foreign company, which is controlled, either directly or indirectly, by a party not primarily engaged in the business of insurance. F&G has not entered into any reinsurance agreements in which the reinsurer may unilaterally cancel any reinsurance for reasons other than non-payment of premiums or other similar credit issues. Effective May 1, 2020, F&G entered into an indemnity reinsurance agreement with Canada Life Assurance Company United States Branch, a third party reinsurer, to reinsure FIA policies with GMWB. In accordance with the terms of this agreement, F&G cedes a quota share percentage of the net retention of guarantee payments in excess of account value for GMWB. This treaty was subsequently amended effective January 1, 2021 and January 1, 2022, and now covers FIA policies with GMWB issued from January 1, 2020 to December 31, 2023. The effects of this agreement are not accounted for as reinsurance as it does not satisfy the risk transfer requirements for GAAP; therefore, deposit accounting is applied. Concentration of Reinsurance Risk F&G has a significant concentration of reinsurance risk with third party reinsurers, Aspida Re, Wilton Reassurance Company (“Wilton Re”), and Somerset that could have a material impact on our financial position in the event that any of these reinsurers fails to perform its obligations under the various reinsurance treaties. Aspida Re has an A- issuer credit rating from AM Best as of June 30, 2022, and the risk of non-performance is further mitigated through the funds withheld arrangement. Wilton Re has an A+ issuer credit rating from AM Best and an A+ issuer credit rating from Fitch as of June 30, 2022. Somerset has an A- issuer credit rating from AM Best and a BBB+ issuer credit rating from S&P as of June 30, 2022, and the risk of non-performance is further mitigated through the funds withheld arrangement. On June 30, 2022, the net amounts recoverable from Aspida Re, Wilton Re, and Somerset were $1,651 million, $1,259 million, and $626 million, respectively. We monitor both the financial condition of individual reinsurers and risk concentration arising from similar activities and economic characteristics of reinsurers to attempt to reduce the risk of default by such reinsurers. We believe that all amounts due from Aspida Re, Wilton Re, and Somerset for periodic treaty settlements are collectible as of June 30, 2022. There have been no other material changes in the reinsurance and the intercompany reinsurance agreements described in our Annual Report on Form 10-K for the year ended December 31, 2021.

F&G Insurance Subsidiary Financ

F&G Insurance Subsidiary Financial Information and Regulatory Matters	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
F&G Insurance Subsidiary Financial Information and Regulatory Matters	Summary of Reserve for Title Claim Losses A summary of the reserve for title claim losses follows: Six months ended June 30, 2022 2021 (Dollars in millions) Beginning balance $ 1,883 $ 1,623 Change in insurance recoverable (108) (22) Claim loss provision related to: Current year 177 178 Total title claim loss provision 177 178 Claims paid, net of recoupments related to: Current year (7) (2) Prior years (102) (100) Total title claims paid, net of recoupments (109) (102) Ending balance of claim loss reserve for title insurance $ 1,843 $ 1,677 Provision for title insurance claim losses as a percentage of title insurance premiums 4.5 % 4.5 % Several lawsuits have been filed by various parties against Chicago Title Company and Chicago Title Insurance Company as its principal (collectively, the “Named Companies”). Generally, plaintiffs claim they are investors who were solicited by Gina Champion-Cain through her former company, ANI Development LLC (“ANI”), or other affiliates to provide funds that purportedly were to be used for high-interest, short-term loans to parties seeking to acquire California alcoholic beverage licenses. Plaintiffs contend they were told that under California state law, alcoholic beverage license applicants are required to deposit into escrow an amount equal to the license purchase price while their applications remain pending with the State. Plaintiffs further alleged that employees of Chicago Title Company participated with Ms. Champion-Cain and her entities in a fraud scheme involving an escrow account maintained by Chicago Title Company into which some of the plaintiffs’ funds were deposited. In connection with the alcoholic beverage license scheme, a lawsuit styled, Securities and Exchange Commission v. Gina Champion-Cain and ANI Development, LLC , was filed in the United States District Court for the Southern District of California asserting claims for securities fraud against Ms. Champion-Cain and certain of her affiliated entities. A receiver was appointed by the court to preserve the assets of the defendant affiliated entities (the “receivership entities”), pay their debts, operate the businesses and pursue any claims they may have against third-parties. Pursuant to the authority granted to her by the federal court, on January 7, 2022, a lawsuit styled, Krista Freitag v. Chicago Title Co. and Chicago Title Ins. Co. , was filed in San Diego County Superior Court by the receiver on behalf of the receivership entities against the Named Companies. The receiver seeks compensatory, incidental, consequential, and punitive damages, and seeks the recovery of attorneys’ fees. In turn, the Named Companies petitioned the Federal Court to sue ANI, via the receiver, to pursue indemnity and other claims against the receivership entities as joint tortfeasors, which was granted. On April 26, 2022, the Named Companies reached a conditional settlement with the receiver and several other investor claimants, which if approved by the federal court, will bar any future claims against the Named Companies related to the alcoholic beverage license scheme. The Named Companies and the receiver agreed to stay the action pending the hearing to approve the settlement which is scheduled for August 29, 2022. The following lawsuits remain pending in the Superior Court of San Diego County for the State of California, most of which involve claimants who have objected to the Named Companies’ settlement with the receiver. Discovery is ongoing, and the cases were initially set for jury trial on December 2, 2022. The trial date has been continued, and it is expected to be reset for a date in March or April 2023. While they have not been consolidated into one action, they have been deemed by the court to be related and are assigned to the same judge for purposes of judicial economy. On December 13, 2019, a lawsuit styled, Kim Funding, LLC, Kim H. Peterson, Joseph J. Cohen, ABC Funding Strategies, LLC, Payson R. Stevens; Kamaljit K. Kapur and The Payson R. Stevens & Kamaljit Kaur Kapur Trust Dated March 28, 2014 v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman , was filed in San Diego County Superior Court. Plaintiffs claim losses of more than $250 million as a result of the alleged fraud scheme, and also seek statutory, treble, and punitive damages, as well as the recovery of attorneys' fees. The Named Companies have filed a cross-complaint against Ms. Champion-Cain, and others. The Named Companies have reached a conditional settlement with members of ABC Funding Strategies, LLC plaintiffs under confidential terms. On March 6, 2020, a lawsuit styled, Wakefield Capital, LLC, Wakefield Investments, LLC, 2Budz Holding, LLC, Doug and Kristine Heidrich, and Jeff and Heidi Orr v. Chicago Title Co. and Chicago Title Ins. Co. , was filed in San Diego County Superior Court. Plaintiffs claim losses in excess of $7 million as a result of the alleged fraud scheme, and also seek punitive damages, recovery of attorneys’ fees, and disgorgement. On June 29, 2020, a lawsuit styled, Susan Heller Fenley Separate Property Trust, DTD 03/04/2010, Susan Heller Fenley Inherited Roth IRA, Shelley Lynn Tarditi Trust and ROJ, LLC v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman , was filed in San Diego County Superior Court. Plaintiffs claim losses in excess of $6 million as a result of the alleged fraud scheme, and also seek statutory, treble, and punitive damages. The Named Companies have filed a cross-complaint against Ms. Champion-Cain, and others. On July 7, 2020, a cross-claim styled, Laurie Peterson v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman , was filed in an existing lawsuit styled, Banc of California, National Association v. Laurie Peterson , which is pending in San Diego County Superior Court. Cross-complaint plaintiff was sued by a bank to recover in excess of $35 million that she allegedly guaranteed to repay for certain investments made by the Banc of California in the alcoholic beverage license scheme. Cross-complaint plaintiff has, in turn, sued the Named Companies in that action seeking in excess of $250 million in monetary losses as well as exemplary damages and attorneys’ fees. The Named Companies have filed a cross-complaint against Ms. Champion-Cain and others, and the Named Companies have been substituted in as the Plaintiff following a settlement with the bank. On September 3, 2020, a cross-claim styled, Kim H. Peterson Trustee of the Peterson Family Trust dated April 14 1992 v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman , was filed in an existing lawsuit styled, CalPrivate Bank v. Kim H. Peterson Trustee of the Peterson Family Trust dated April 14 1992 , which is pending in Superior Court of San Diego County for the State of California. Cross-complaint plaintiff was sued by a bank to recover in excess of $12 million that the trustee allegedly guaranteed to repay for certain investments made by CalPrivate Bank in the alcoholic beverage license scheme. Cross-complaint plaintiff has, in turn, sued the Named Companies in that action seeking in excess of $250 million in monetary losses as well as exemplary damages and attorneys’ fees. On November 2, 2020, a lawsuit styled, CalPrivate Bank v. Chicago Title Co. and Chicago Title Ins. Co., was also filed in the Superior Court of San Diego County for the State of California. Plaintiff claims losses in excess of $12 million based upon business loan advances made in the alcoholic beverage license scheme and seeks punitive damages and the recovery of attorneys’ fees. The Named Companies have filed a cross-complaint against Ms. Champion-Cain, and others. Chicago Title Company has also resolved a number of other pre-suit claims and previously-disclosed lawsuits from both individual and groups of alleged investors under confidential terms. Based on the facts and circumstances of the remaining claims, including the settlements already reached, we have recorded reserves included in our reserve for title claim losses, which we believe are adequate to cover losses related to this matter, and believe that our reserves for title claim losses are adequate. We continually upda te loss reserve estimates as new information becomes known, new loss patterns emerge or as other contributing factors are considered and incorporated into the analysis of reserve for claim losses. Estimating future title loss payments is difficult because of the complex nature of title claims, the long periods of time over which claims are paid, significantly varying dollar amounts of individual claims and other factors. Due to the uncertainty inherent in the process and to the judgment used by management, the ultimate liability may be greater or less than our current reserves. If actual claims loss development varies from what is currently expected and is not offset by other factors, it is possible that additional reserve adjustments may be required in future periods in order to maintain our recorded reserve within a reasonable range of our actuary's central estimate. Our U.S. insurance subsidiaries, FGL Insurance, FGL NY Insurance, and Raven Re, file financial statements with state insurance regulatory authorities and the National Association of Insurance Commissioners (“NAIC”) that are prepared in accordance with Statutory Accounting Principles (“SAP”) prescribed or permitted by such authorities, which may vary materially from GAAP. Prescribed SAP includes the Accounting Practices and Procedures Manual of the NAIC as well as state laws, regulations and administrative rules. Permitted SAP encompasses all accounting practices not so prescribed. The principal differences between SAP financial statements and financial statements prepared in accordance with GAAP are that SAP financial statements do not reflect VOBA, DAC, and DSI, some bond portfolios may be carried at amortized cost, assets and liabilities are presented net of reinsurance, contractholder liabilities are generally valued using more conservative assumptions and certain assets are non-admitted. Accordingly, SAP operating results and SAP capital and surplus may differ substantially from amounts reported in the GAAP basis financial statements for comparable items. F&G Cayman Re Ltd and F&G Life Re Ltd (Bermuda) file financial statements with their respective regulators that are based on U.S. GAAP. FGL Insurance applies Iowa-prescribed accounting practices that permit Iowa-domiciled insurers to report equity call options used to economically hedge FIA index credits at amortized cost for statutory accounting purposes and to calculate FIA statutory reserves such that index credit returns will be included in the reserve only after crediting to the annuity contract. This resulted in a $162 million and $106 million decrease to statutory capital and surplus at June 30, 2022 and December 31, 2021, respectively. FGL Insurance’s statutory carrying value of Raven Reinsurance Company ("Raven Re") reflects the effect of permitted practices Raven Re received to treat the available amount of a letter of credit as an admitted asset, which increased Raven Re’s statutory capital and surplus by $50 million and $85 million at June 30, 2022 and December 31, 2021, respectively. Raven Re is also permitted to follow Iowa prescribed statutory accounting practice for its reserves on reinsurance assumed from FGL Insurance. Without such permitted statutory accounting practices, Raven Re’s statutory capital and surplus (deficit) and its risk-based capital would not fall below the minimum regulatory requirements. The letter of credit facility is collateralized by NAIC 1 rated debt securities. If the permitted practice was revoked, the letter of credit could be replaced by the collateral assets with Nomura’s consent. FGL Insurance’s statutory carrying value of Raven Re was $80 million and $115 million at June 30, 2022 and December 31, 2021, respectively. As of June 30, 2022, FGL NY Insurance did not follow any prescribed or permitted statutory accounting practices that differ from the NAIC's statutory accounting practices.

Basis of Financial Statements (

Basis of Financial Statements (Policies)	6 Months Ended
Basis of Financial Statements (Policies)	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Statements	The financial information in this report presented for interim periods is unaudited and includes the accounts of Fidelity National Financial, Inc. and its subsidiaries (collectively, “we,” “us,” “our,” the "Company" or “FNF”) prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All adjustments made were of a normal, recurring nature. This report should be read in conjunction with our Annual Report on Form 10-K (our "Annual Report") for the year ended December 31, 2021.
Earnings Per Share	Earnings Per Share Basic earnings per share, as presented on the Condensed Consolidated Statement of Earnings, is computed by dividing net earnings available to common shareholders in a given period by the weighted average number of common shares outstanding during such period. In periods when earnings are positive, diluted earnings per share is calculated by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding plus assumed conversions of potentially dilutive securities. For periods when we recognize a net loss, diluted loss per share is equal to basic loss per share as the impact of assumed conversions of potentially dilutive securities is considered to be antidilutive. We have granted certain stock options, shares of restricted stock and certain other convertible share based payments, which have been treated as common share equivalents for purposes of calculating diluted earnings per share for periods in which positive earnings have been reported.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Pronouncements Not Yet Adopted In August 2018, the FASB issued ASU 2018-12, Financial Services-Insurance (Topic 944), Targeted Improvements to the Accounting for Long-Duration Contracts, as clarified and amended by ASU 2019-09, Financial Services-Insurance: Effective Date and ASU 2020-11, Financial Services-Insurance: Effective Date and Early Application, effective for fiscal years beginning after December 15, 2022 including interim periods within those fiscal years. This update introduced the following requirements: assumptions used to measure cash flows for traditional and limited-payment contracts must be reviewed at least annually with the effect of changes in those assumptions being recognized in the statement of operations; the discount rate applied to measure the liability for future policy benefits and limited-payment contracts must be updated at each reporting date with the effect of changes in the rate being recognized in other comprehensive income; market risk benefits associated with deposit contracts must be measured at fair value, with the effect of the change in the fair value attributable to a change in the instrument-specific credit risk being recognized in other comprehensive income; deferred acquisition costs are no longer required to be amortized in proportion to premiums, gross profits, or gross margins; instead, those balances must be amortized on a constant level basis over the expected term of the related contracts; deferred acquisition costs must be written off for unexpected contract terminations; and disaggregated rollforwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities and deferred acquisition costs, as well as information about significant inputs, judgments, assumptions, and methods used in measurement are required to be disclosed. The amendments in this ASU may be early adopted as of the beginning of an annual reporting period for which financial statements have not yet been issued, including interim financial statements. We have identified specific areas that will be impacted by the new guidance. This guidance will bring significant changes to how we account for certain insurance and annuity products within our business and expand disclosures. As part of the implementation process, to date our progress includes, but is not limited to the following: identifying and documenting contracts and contract features in scope of the guidance; identifying actuarial models, systems, and processes to be updated; building models; evaluating and finalizing key accounting policies; evaluating transition requirements; and establishing and documenting appropriate internal controls. We will not early adopt this standard and have selected the full retrospective transition method, which requires the new guidance be applied as of the beginning of the earliest period presented or January 1, 2021, referred to as the transition date. The impacts of this guidance to the consolidated financial statements are subject to market conditions, such as interest rate levels. We have begun to generate and review results for historical periods from our actuarial models which will allow us to quantify the impact to our consolidated financial statements. In March 2022, the FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the Troubled Debt Restructuring ("TDR") recognition and measurement guidance for creditors and, instead, require that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendments also enhance existing disclosure requirements and introduce new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. Additionally, these amendments require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases within the scope of Subtopic 326-20. The guidance is effective for entities that have adopted ASU 2016-13 Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326) for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, though early adoption is permitted. We do not currently expect to early adopt this standard and are in the process of assessing this standard and its impact on our accounting and disclosures. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this update affect all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction and clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. Additionally, the amendments require the following disclosures for equity securities subject to contractual sale restrictions: the fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, the nature and remaining duration of the restriction(s), and the circumstances that could cause a lapse in the restriction(s). The amendments in this update do not change the principles of fair value measurement, rather, they clarify those principles when measuring the fair value of an equity security subject to a contractual sale restriction and improve current GAAP by reducing diversity in practice, reducing the cost and complexity in measuring fair value, and increasing comparability of financial information across reporting entities that hold those investments. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, though early adoption is permitted. We do not currently expect to early adopt this standard and are in the process of assessing this standard and its impact on our accounting and disclosures.
Revenue Recognition	Our Direct title insurance premiums are recognized as revenue at the time of closing of the underlying transaction as the earnings process is then considered complete. Regulation of title insurance rates varies by state. Premiums are charged to customers based on rates predetermined in coordination with each states' respective Department of Insurance. Cash associated with such revenue is typically collected at closing of the underlying real estate transaction. Premium revenues from agency title operations are recognized when the underlying title order and transaction closing, if applicable, are complete.Revenues from our home warranty business are generated from contracts with customers to provide warranty for major home appliances. Substantially all of our home warranty contracts are one year in length and revenue is recognized ratably over the term of the contract.
Revenue Recognition, Other	We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, primarily related to revenue from our home warranty business, and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.
Revenue Recognition, Services, Real Estate Transactions	Escrow fees and Other title-related fees and income in our Title segment are closely related to Direct title insurance premiums and are primarily associated with managing the closing of real estate transactions, including the processing of funds on behalf of the transaction participants, gathering and recording the required closing documents, providing notary and home inspection services, and other real estate or title-related activities. Revenue is primarily recognized upon closing of the underlying real estate transaction or completion of services. Cash associated with such revenue is typically collected at closing. Revenues from ServiceLink, excluding its title premiums, escrow fees and loan subservicing fees primarily include revenues from real estate appraisal services and foreclosure processing and facilitation services. Revenues from real estate appraisal services are recognized when all appraisal work is complete, a final report is issued to the client and the client is billed. Revenues from foreclosure processing and facilitation services are primarily recognized upon completion of the services and when billing to the client is complete. Life insurance premiums in our F&G segment reflect premiums for life-contingent PRT, traditional life insurance products and life-contingent immediate annuity products, which are recognized as revenue when due from the policyholder. We have ceded the majority of our traditional life business to unaffiliated third party reinsurers. While the base contract has been reinsured, we continue to retain the return of premium rider. Insurance and investment product fees and other consist primarily of the cost of insurance on IUL policies, unearned revenue ("UREV") on IUL policies, policy rider fees primarily on FIA policies and surrender charges assessed against policy withdrawals in excess of the policyholder's allowable penalty-free amounts. Premium and annuity deposit collections for FIA, fixed rate annuities, immediate annuities and PRT without life contingency, and amounts received for funding agreements are reported in the financial statements as deposit liabilities (i.e., contractholder funds) instead of as sales or revenues. Similarly, cash payments to customers are reported as decreases in the liability for contractholder funds and not as expenses. Sources of revenues for products accounted for as deposit liabilities include net investment income, surrender, cost of insurance and other charges deducted from contractholder funds, and net realized gains (losses) on investments. Components of expenses for products accounted for as deposit liabilities are interest-sensitive and index product benefits (primarily interest credited to account balances or the hedging cost of providing index credits to the policyholder), amortization of VOBA, DAC, and DSI, other operating costs and expenses, and income taxes. Real estate technology revenues are primarily comprised of subscription fees for use of software provided to real estate professionals. Subscriptions are only offered on a month-by-month basis and fees are billed monthly. Revenue is recognized in the month services are provided. Loan subservicing revenues are generated by certain subsidiaries of ServiceLink and are associated with the servicing of mortgage loans on behalf of its customers. Revenue is recognized when the underlying work is performed and billed. Loan subservicing revenues are subject to the recognition requirements of ASC Topic 860.

Summary of Reserve for Title _2

Summary of Reserve for Title Claim Losses (Tables)	6 Months Ended
Summary of Reserve for Title Claim Losses (Tables)	Jun. 30, 2022
Insurance [Abstract]
Summary of the Reserve for Claim Losses	A summary of the reserve for title claim losses follows: Six months ended June 30, 2022 2021 (Dollars in millions) Beginning balance $ 1,883 $ 1,623 Change in insurance recoverable (108) (22) Claim loss provision related to: Current year 177 178 Total title claim loss provision 177 178 Claims paid, net of recoupments related to: Current year (7) (2) Prior years (102) (100) Total title claims paid, net of recoupments (109) (102) Ending balance of claim loss reserve for title insurance $ 1,843 $ 1,677 Provision for title insurance claim losses as a percentage of title insurance premiums 4.5 % 4.5 %

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
Fair Value of Financial Instruments (Tables)	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Carrying Amount and Estimated Fair Value of Assets and Liabilities on Recurring Basis	The carrying amounts and estimated fair values of our financial instruments for which the disclosure of fair values is required, including financial assets and liabilities measured and carried at fair value on a recurring basis, with the exception of investment contracts, portions of other long-term investments and debt, which are disclosed later within this footnote, was summarized according to the hierarchy previously described, as follows (in millions): June 30, 2022 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 2,426 $ — $ — $ 2,426 $ 2,426 Fixed maturity securities, available-for-sale: Asset-backed securities — 4,771 4,677 9,448 9,448 Commercial mortgage-backed securities — 3,016 37 3,053 3,053 Corporates 40 12,770 1,374 14,184 14,184 Hybrids 118 651 — 769 769 Municipals — 1,278 33 1,311 1,311 Residential mortgage-backed securities — 893 9 902 902 U.S. Government 530 — — 530 530 Foreign Governments — 219 16 235 235 Short term investments 1,814 774 — 2,588 2,588 Preferred securities 411 741 1 1,153 1,153 Equity securities 701 — 10 711 711 Derivative investments — 145 — 145 145 Reinsurance related embedded derivative, included in other assets — 191 — 191 191 Other long-term investments — — 72 72 72 Total financial assets at fair value $ 6,040 $ 25,449 $ 6,229 $ 37,718 $ 37,718 Liabilities Derivatives: FIA/ IUL embedded derivatives, included in contractholder funds — — 2,941 2,941 2,941 Total financial liabilities at fair value $ — $ — $ 2,941 $ 2,941 $ 2,941 December 31, 2021 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 4,360 $ — $ — $ 4,360 $ 4,360 Fixed maturity securities, available-for-sale: Asset-backed securities — 4,736 3,959 8,695 8,695 Commercial mortgage-backed securities — 2,944 35 2,979 2,979 Corporates 37 15,322 1,135 16,494 16,494 Hybrids 132 780 — 912 912 Municipals — 1,458 43 1,501 1,501 Residential mortgage-backed securities — 731 — 731 731 U.S. Government 394 — — 394 394 Foreign Governments — 266 18 284 284 Short term investments 168 2 321 491 491 Preferred securities 506 893 2 1,401 1,401 Equity securities 1,206 — 9 1,215 1,215 Derivative investments — 816 — 816 816 Other long-term investments — — 78 78 78 Total financial assets at fair value $ 6,803 $ 27,948 $ 5,600 $ 40,351 $ 40,351 Liabilities Derivatives: FIA/ IUL embedded derivatives, included in contractholder funds — — 3,883 3,883 3,883 Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities — 73 — 73 73 Total financial liabilities at fair value $ — $ 73 $ 3,883 $ 3,956 $ 3,956 The following tables provide the carrying value and estimated fair value of our financial instruments that are carried on the unaudited Condensed Consolidated Balance Sheets at amounts other than fair value, summarized according to the fair value hierarchy previously described. June 30, 2022 (in millions) Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets FHLB common stock $ — $ 90 $ — $ 90 $ 90 Commercial mortgage loans — — 2,119 2,119 2,315 Residential mortgage loans — — 1,971 1,971 2,122 Policy loans — — 44 44 44 Other invested assets — — 69 69 69 Company-owned life insurance — — 352 352 352 Trade and notes receivables, net of allowance — — 616 616 616 Total $ — $ 90 $ 5,171 $ 5,261 $ 5,608 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 31,550 $ 31,550 $ 34,990 Debt — 2,711 — 2,711 3,094 Total $ — $ 2,711 $ 31,550 $ 34,261 $ 38,084 December 31, 2021 (in millions) Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets FHLB common stock $ — $ 72 $ — $ 72 $ 72 Commercial mortgage loans — — 2,265 2,265 2,168 Residential mortgage loans — — 1,549 1,549 1,581 Policy loans — — 39 39 39 Other invested assets — — 57 57 57 Company-owned life insurance — — 333 333 333 Trade and notes receivables, net of allowance — — 557 557 557 Total $ — $ 72 $ 4,800 $ 4,872 $ 4,807 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 27,448 $ 27,448 $ 31,529 Debt — 3,218 — 3,218 3,096 Total $ — $ 3,218 $ 27,448 $ 30,666 $ 34,625
Quantitative Information Regarding Significant Unobservable Inputs Used for Recurring Level Three Fair Value Measurements of Financial Instruments	Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments carried at fair value as of June 30, 2022 and December 31, 2021 are as follows: Fair Value at Valuation Technique Unobservable Input(s) Range (Weighted average) June 30, 2022 (in millions) June 30, 2022 Assets Asset-backed securities $ 4,517 Broker-quoted Offered quotes 41.02% - 228.74% (92.19%) Asset-backed securities 160 Third-Party Valuation Offered quotes 66.37% - 100.34% (98.38%) Commercial mortgage-backed securities 21 Broker-quoted Offered quotes 112.82% - 112.82% (112.82%) Commercial mortgage-backed securities 16 Third-Party Valuation Offered quotes 71.25% - 88.63% (81.41%) Corporates 602 Broker-quoted Offered quotes 0.00% - 108.46% (92.11%) Corporates 17 Discounted Cash Flow Discount Rate 44.00% - 100.00% (77.00%) Corporates 755 Third-Party Valuation Offered quotes 75.42% - 124.99% (94.59%) Municipals 33 Third-Party Valuation Offered quotes 106.40% - 106.40% (106.40%) Residential mortgage-backed securities 9 Broker-quoted Offered quotes 0.00% - 93.02% (93.02%) Foreign Governments 16 Third-Party Valuation Offered quotes 98.73% - 99.59% (99.32%) Preferred securities 1 Discounted Cash Flow Discount rate 100.00% - 100.00% (100.00%) Equity securities 6 Broker Quoted Offered quotes $60.50 - $60.50 ($60.50) Equity securities 4 Discounted Cash Flow Discount rate 11.10% - 11.10% (11.10%) Market Comparable Company Analysis EBITDA multiple 5.5x - 5.5x (5.5x) Other long-term investments: Available-for-sale embedded derivative 24 Black Scholes model Market value of fund 100.00% Secured borrowing receivable 10 Broker-quoted Offered quotes 100.00% - 100.00% (100.00%) Credit Linked Note 17 Broker-quoted Offered quotes 100.00% Investment in affiliate 21 Market Comparable Company Analysis EBITDA multiple 8x-8x Total financial assets at fair value $ 6,229 Liabilities Derivative investments: FIA/ IUL embedded derivatives, included in contractholder funds $ 2,941 Discounted cash flow Market value of option 0.00% - 23.28% (0.48%) Swap rates 1.28% - 3.38% (2.33%) Mortality multiplier 100.00% - 100.00% (100.00%) Surrender rates 0.25% - 70.00% (6.38%) Partial withdrawals 2.00% - 29.41% (2.74%) Non-performance spread 0.76% - 1.64% (1.50%) Option cost 0.00% - 4.97% (1.86%) Total financial liabilities at fair value $ 2,941 Fair Value at Valuation Technique Unobservable Input(s) Range (Weighted average) December 31, 2021 (in millions) December 31, 2021 Assets Asset-backed securities $ 3,844 Broker-quoted Offered quotes 52.56% - 260.70% (97.06%) Asset-backed securities 115 Third-Party Valuation Offered quotes 93.02% - 108.45% (104.95%) Commercial mortgage-backed securities 24 Broker-quoted Offered quotes 126.70% - 126.70% (126.70%) Commercial mortgage-backed securities 11 Third Party Valuation Offered quotes 97.91% - 97.91% (97.91%) Corporates 380 Broker-quoted Offered quotes 0.00% - 109.69% (100.91%) Corporates 741 Third-Party Valuation Offered quotes 85.71% - 119.57% (107.72%) Corporates 14 Discounted Cash Flow Discount Rate 44.00% - 100.00% (62.00%) Municipals 43 Third-Party Valuation Offered quotes 135.09% - 135.09% (135.09%) Foreign Governments 18 Third-Party Valuation Offered quotes 107.23% - 116.44% (110.11%) Short term investments 321 Broker-quoted Offered quotes 100.00% - 100.00% (100.00%) Preferred securities 2 Income-Approach Yield 2.43% Equity securities 3 Broker Quoted Offered quotes $6.23 - $6.23 ($6.23) Equity securities 2 Black Scholes model Risk Free Rate 1.00% -1.00% (1.00%) Strike Price $1.50 - $1.50 ($1.50) Volatility 81.00% - 81.00% (81.00%) Dividend Yield 0.00% - 0.00% (0.00%) Equity securities 4 Discounted Cash Flow Discount rate 12.70% - 12.70% (12.70%) Market Comparable Company Analysis EBITDA multiple 5.9x - 5.9x (5.9x) Other long-term investments: Available-for-sale embedded derivative 34 Black Scholes model Market value of fund 100.00% Credit Linked Note 23 Broker-quoted Offered quotes 100.00% Investment in affiliate 21 Market Comparable Company Analysis EBITDA multiple 8x-8x Total financial assets at fair value $ 5,600 Liabilities Derivative investments: FIA/ IUL embedded derivatives, included in contractholder funds 3,883 Discounted cash flow Market value of option 0.00% - 38.72% (3.16%) Swap rates 0.05% - 1.94% (1.00%) Mortality multiplier 100.00% - 100.00% (100.00%) Surrender rates 0.25% - 70.00% (6.26%) Partial withdrawals 2.00% - 23.26% (2.72%) Non-performance spread 0.43% - 1.01% (0.68%) Option cost 0.07% - 4.97% (1.83%) Total financial liabilities at fair value $ 3,883
Changes in Fair Value of Financial Instruments - Assets	The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three and six months ended June 30, 2022 and 2021. This summary excludes any impact of amortization of value of business acquired (“VOBA”), deferred acquisition cost (“DAC”), and deferred sales inducements (“DSI”). The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended June 30, 2022 (in millions) Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 4,161 $ 1 $ (142) $ 827 $ (39) $ (126) $ (5) $ 4,677 $ (153) Commercial mortgage-backed securities 40 — (3) — — — — 37 (2) Corporates 1,141 — (64) 307 — (6) (4) 1,374 (61) Municipals 37 — (4) — — — — 33 (4) Residential mortgage-backed securities — — — 9 — — — 9 — Foreign Governments 17 — (1) — — — — 16 (1) Short term investments 19 — — — — — (19) — — Preferred securities 1 — — — — — — 1 — Equity securities 10 — — 1 (1) — — 10 — Other long-term investments: Available-for-sale embedded derivative 30 (6) — — — — — 24 — Investment in affiliate 21 — — — — — — 21 — Credit linked note 19 — — — — (2) — 17 — Secured borrowing receivable — — — — — — 10 10 — Total Level 3 assets at fair value $ 5,496 $ (5) $ (214) $ 1,144 $ (40) $ (134) $ (18) $ 6,229 $ (221) Liabilities FIA/ IUL embedded derivatives, included in contractholder funds 3,395 (454) — — — — — 2,941 — Total Level 3 liabilities at fair value $ 3,395 $ (454) $ — $ — $ — $ — $ — $ 2,941 $ — (a) The net transfers out of Level 3 during the three months ended June 30, 2022 were exclusively to Level 2. Three months ended June 30, 2021 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 1,593 $ — $ 20 $ 813 $ — $ (90) $ (27) $ 2,309 $ 18 Commercial mortgage-backed securities 25 — — — — — — 25 — Corporates 1,247 2 16 18 (7) (76) 1 1,201 18 Municipals 41 — 2 — — — — 43 3 Residential mortgage-backed securities 487 — (10) 5 — (39) — 443 (6) Foreign Governments 17 — — — — — — 17 — Short-Term — — 1 302 — — — 303 — Equity and preferred securities 10 — 1 — (1) — — 10 — Other long-term investments: Available-for-sale embedded derivative 28 2 — — — — — 30 — Credit linked note 19 — — — — — — 19 — Total assets at Level 3 fair value $ 3,467 $ 4 $ 30 $ 1,138 $ (8) $ (205) $ (26) $ 4,400 $ 33 Liabilities Future policy benefits (FSRC) $ 4 $ — $ — $ — $ (4) $ — $ — $ — $ — FIA embedded derivatives, included in contractholder funds 3,293 466 — — — — — 3,759 — Total liabilities at Level 3 fair value $ 3,297 $ 466 $ — $ — $ (4) $ — $ — $ 3,759 $ —
Changes in Fair Value of Financial Instruments - Liabilities	The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three and six months ended June 30, 2022 and 2021. This summary excludes any impact of amortization of value of business acquired (“VOBA”), deferred acquisition cost (“DAC”), and deferred sales inducements (“DSI”). The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended June 30, 2022 (in millions) Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 4,161 $ 1 $ (142) $ 827 $ (39) $ (126) $ (5) $ 4,677 $ (153) Commercial mortgage-backed securities 40 — (3) — — — — 37 (2) Corporates 1,141 — (64) 307 — (6) (4) 1,374 (61) Municipals 37 — (4) — — — — 33 (4) Residential mortgage-backed securities — — — 9 — — — 9 — Foreign Governments 17 — (1) — — — — 16 (1) Short term investments 19 — — — — — (19) — — Preferred securities 1 — — — — — — 1 — Equity securities 10 — — 1 (1) — — 10 — Other long-term investments: Available-for-sale embedded derivative 30 (6) — — — — — 24 — Investment in affiliate 21 — — — — — — 21 — Credit linked note 19 — — — — (2) — 17 — Secured borrowing receivable — — — — — — 10 10 — Total Level 3 assets at fair value $ 5,496 $ (5) $ (214) $ 1,144 $ (40) $ (134) $ (18) $ 6,229 $ (221) Liabilities FIA/ IUL embedded derivatives, included in contractholder funds 3,395 (454) — — — — — 2,941 — Total Level 3 liabilities at fair value $ 3,395 $ (454) $ — $ — $ — $ — $ — $ 2,941 $ — (a) The net transfers out of Level 3 during the three months ended June 30, 2022 were exclusively to Level 2. Three months ended June 30, 2021 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Change in Unrealized Gains (Losses) Incl in OCI Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 1,593 $ — $ 20 $ 813 $ — $ (90) $ (27) $ 2,309 $ 18 Commercial mortgage-backed securities 25 — — — — — — 25 — Corporates 1,247 2 16 18 (7) (76) 1 1,201 18 Municipals 41 — 2 — — — — 43 3 Residential mortgage-backed securities 487 — (10) 5 — (39) — 443 (6) Foreign Governments 17 — — — — — — 17 — Short-Term — — 1 302 — — — 303 — Equity and preferred securities 10 — 1 — (1) — — 10 — Other long-term investments: Available-for-sale embedded derivative 28 2 — — — — — 30 — Credit linked note 19 — — — — — — 19 — Total assets at Level 3 fair value $ 3,467 $ 4 $ 30 $ 1,138 $ (8) $ (205) $ (26) $ 4,400 $ 33 Liabilities Future policy benefits (FSRC) $ 4 $ — $ — $ — $ (4) $ — $ — $ — $ — FIA embedded derivatives, included in contractholder funds 3,293 466 — — — — — 3,759 — Total liabilities at Level 3 fair value $ 3,297 $ 466 $ — $ — $ (4) $ — $ — $ 3,759 $ —
Schedule of Net Asset Value	The following table includes assets that have not been classified in the fair value hierarchy as the value of these investments are measured using the equity method of accounting or net asset value ("NAV") is used as a practical expedient in determining fair value: Carrying Amount June 30, 2022 December 31, 2021 Investments in unconsolidated affiliates $ 167 $ 136 Equity securities (NAV) 44 48 Investments in unconsolidated affiliates (a) 2,668 2,350 $ 2,879 $ 2,534 (a) The fair value of these investments using the NAV practical expedient and their carrying amount are generally equal.

Investments (Tables)

Investments (Tables)	6 Months Ended
Investments (Tables)	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Consolidated Investments	The Company’s consolidated investments at June 30, 2022 and December 31, 2021 are summarized as follows (in millions): June 30, 2022 Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for-sale securities Asset-backed securities $ 9,965 $ (2) $ 46 $ (561) $ 9,448 $ 9,448 Commercial mortgage-backed securities 3,123 — 90 (160) 3,053 3,053 Corporates 16,639 (5) 31 (2,481) 14,184 14,184 Hybrids 827 — 6 (64) 769 769 Municipals 1,489 — 3 (181) 1,311 1,311 Residential mortgage-backed securities 977 (4) 2 (73) 902 902 U.S. Government 544 — 1 (15) 530 530 Foreign Governments 272 — — (37) 235 235 Total available-for-sale securities $ 33,836 $ (11) $ 179 $ (3,572) $ 30,432 $ 30,432 December 31, 2021 Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for-sale securities Asset-backed securities $ 8,516 $ (3) $ 220 $ (38) $ 8,695 $ 8,695 Commercial mortgage-backed/asset-backed securities 2,684 (2) 308 (11) 2,979 2,979 Corporates 15,822 — 830 (158) 16,494 16,494 Hybrids 838 — 74 — 912 912 Municipals 1,445 — 67 (11) 1,501 1,501 Residential mortgage-backed securities 731 (3) 7 (4) 731 731 U.S. Government 393 — 3 (2) 394 394 Foreign Governments 276 — 9 (1) 284 284 Total available-for-sale securities $ 30,705 $ (8) $ 1,518 $ (225) $ 31,990 $ 31,990
Investments Classified by Contractual Maturity Date	The amortized cost and fair value of fixed maturity securities by contractual maturities, as applicable, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. June 30, 2022 December 31, 2021 (in millions) (in millions) Amortized Cost Fair Value Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal and Government securities: Due in one year or less $ 524 $ 523 $ 426 $ 431 Due after one year through five years 3,386 3,218 2,998 3,051 Due after five years through ten years 2,103 1,918 2,389 2,458 Due after ten years 13,732 11,344 12,930 13,608 Subtotal 19,745 17,003 18,743 19,548 Other securities, which provide for periodic payments: Asset-backed securities 9,965 9,448 8,516 8,695 Commercial mortgage-backed securities 3,123 3,053 2,684 2,979 Structured hybrids 26 26 31 37 Residential mortgage-backed securities 977 902 731 731 Subtotal 14,091 13,429 11,962 12,442 Total fixed maturity available-for-sale securities $ 33,836 $ 30,432 $ 30,705 $ 31,990
Activity in Allowance for Credit Loses of Available-for-sale Securities Aggregated by Investment Category
Fair Value and Gross Unrealized Losses of Available-for-sale Securities	The fair value and gross unrealized losses of AFS securities, excluding securities in an unrealized loss position with an allowance for expected credit loss, aggregated by investment category and duration of fair value below amortized cost as of June 30, 2022 and December 31, 2021 were as follows (dollars in millions): June 30, 2022 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Fair Value Gross Unrealized Fair Value Gross Unrealized Available-for-sale securities Asset-backed securities $ 7,944 $ (490) $ 645 $ (71) $ 8,589 $ (561) Commercial mortgage-backed securities 1,788 (153) 48 (8) 1,836 (161) Corporates 11,593 (1,960) 1,414 (521) 13,007 (2,481) Hybrids 677 (64) 2 — 679 (64) Municipals 1,120 (158) 119 (23) 1,239 (181) Residential mortgage-backed securities 798 (67) 27 (6) 825 (73) U.S. Government 334 (12) 34 (2) 368 (14) Foreign Government 131 (31) 20 (6) 151 (37) Total available-for-sale securities $ 24,385 $ (2,935) $ 2,309 $ (637) $ 26,694 $ (3,572) Total number of available-for-sale securities in an unrealized loss position less than twelve months 3,441 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 291 Total number of available-for-sale securities in an unrealized loss position 3,732 December 31, 2021 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Fair Value Gross Unrealized Fair Value Gross Unrealized Available-for-sale securities Asset-backed securities $ 4,410 $ (31) $ 146 $ (7) $ 4,556 $ (38) Commercial mortgage-backed securities 603 (11) 1 — 604 (11) Corporates 5,391 (132) 394 (26) 5,785 (158) Hybrids 3 — — — 3 — Municipals 410 (5) 85 (6) 495 (11) Residential mortgage-backed securities 325 (3) 11 (1) 336 (4) U.S. Government 219 (2) 4 — 223 (2) Foreign Government 82 (1) 5 — 87 (1) Total available-for-sale securities $ 11,443 $ (185) $ 646 $ (40) $ 12,089 $ (225) Total number of available-for-sale securities in an unrealized loss position less than twelve months 2,056 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 68 Total number of available-for-sale securities in an unrealized loss position 2,124
Schedule of Distribution of CMLs, Gross Valuation by Property Type and Geographic Region	The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables (dollars in millions): June 30, 2022 December 31, 2021 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Hotel $ 18 1 % $ 19 1 % Industrial - General 486 20 % 497 23 % Mixed Use 12 1 % 13 1 % Multifamily 1,013 43 % 894 41 % Office 332 14 % 343 16 % Retail 107 5 % 121 6 % Student Housing 83 4 % 83 4 % Other 270 12 % 204 8 % Total commercial mortgage loans, gross of valuation allowance $ 2,321 100 % $ 2,174 100 % Allowance for expected credit loss (6) (6) Total commercial mortgage loans $ 2,315 $ 2,168 U.S. Region: East North Central $ 130 6 % $ 137 6 % East South Central 76 3 % 79 4 % Middle Atlantic 292 13 % 293 13 % Mountain 355 15 % 236 11 % New England 151 7 % 149 7 % Pacific 699 30 % 649 30 % South Atlantic 496 21 % 459 21 % West North Central 4 — % 12 1 % West South Central 118 5 % 160 7 % Total commercial mortgage loans, gross of valuation allowance $ 2,321 100 % $ 2,174 100 % Allowance for expected credit loss (6) (6) Total commercial mortgage loans $ 2,315 $ 2,168
Schedule of Investment in Mortgage Loans by Loan to Value and Debt Service Coverage Ratios	The following tables present the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios at June 30, 2022 and December 31, 2021 (dollars in millions) : Debt-Service Coverage Ratios Total Amount % of Total Estimated Fair Value % of Total >1.25 1.00 - 1.25 <1.00 June 30, 2022 LTV Ratios: Less than 50% $ 398 $ 4 $ 9 $ 411 18 % $ 401 19 % 50% to 60% 771 — — 771 33 % 712 34 % 60% to 75% 1,130 — — 1,130 48 % 1,000 47 % 75% to 85% $ — $ 9 $ — $ 9 1 % 6 — % Commercial mortgage loans $ 2,299 $ 13 $ 9 $ 2,321 100 % $ 2,119 100 % December 31, 2021 LTV Ratios: Less than 50% $ 626 $ 33 $ 9 $ 668 31 % $ 745 33 % 50% to 60% 470 — — 470 22 % 481 21 % 60% to 75% 1,036 — — 1,036 47 % 1,039 46 % Commercial mortgage loans $ 2,132 $ 33 $ 9 $ 2,174 100 % $ 2,265 100 %
Schedule of Residential Mortgage Loans by State	The distribution of RMLs by state with highest-to-lowest concentration are reflected in the following tables (dollars in millions): June 30, 2022 U.S. State: Amortized Cost % of Total Florida $ 302 14 % Texas 227 11 % New Jersey 171 8 % Pennsylvania 146 7 % California 145 7 % New York 137 6 % Georgia 117 5 % All Other States (1) 903 42 % Total residential mortgage loans $ 2,148 100 % (1) The individual concentration of each state is equal to or less than 5% as of June 30, 2022. December 31, 2021 U.S. State: Amortized Cost % of Total Florida $ 231 15 % Texas 167 10 % New Jersey 150 10 % All other states (1) 1,027 65 % Total residential mortgage loans $ 1,575 100 % (1) The individual concentration of each state is less than 9% as of December 31, 2021.
Schedule of Loans with Credit Quality Indicators, Performing or Nonperforming	The credit quality of RMLs as of June 30, 2022 and December 31, 2021, was as follows (dollars in millions): June 30, 2022 December 31, 2021 Performance indicators: Carrying Value % of Total Carrying Value % of Total Performing $ 2,083 97 % $ 1,533 95 % Non-performing 68 3 % 73 5 % Total residential mortgage loans, gross of valuation allowance $ 2,151 100 % $ 1,606 100 % Allowance for expected loan loss (29) — % (25) — % Total residential mortgage loans $ 2,122 100 % $ 1,581 100 %
Loans Segregated by Risk Rating Exposure	Loans segregated by risk rating exposure as of June 30, 2022 and December 31, 2021, were as follows (in millions): June 30, 2022 Amortized Cost by Origination Year 2022 2021 2020 2019 2018 Prior Total Residential mortgages Current (less than 30 days past due) $ 605 $ 896 $ 244 $ 211 $ 29 $ 43 $ 2,028 30-89 days past due 15 19 5 14 1 — 54 Over 90 days past due — 6 16 46 1 — 69 Total residential mortgages $ 620 $ 921 $ 265 $ 271 $ 31 $ 43 $ 2,151 Commercial mortgages Current (less than 30 days past due) $ 229 $ 1,301 $ 509 $ — $ — $ 273 $ 2,312 30-89 days past due — — — — — — — Over 90 days past due — — — — — 9 9 Total commercial mortgages $ 229 $ 1,301 $ 509 $ — $ — $ 282 $ 2,321 December 31, 2021 Amortized Cost by Origination Year 2021 2020 2019 2018 2017 Prior Total Residential mortgages Current (less than 30 days past due) $ 795 $ 293 $ 323 $ 50 $ 36 $ 21 $ 1,518 30-89 days past due 5 4 6 1 — — 16 Over 90 days past due 1 23 46 2 — — 72 Total residential mortgages $ 801 $ 320 $ 375 $ 53 $ 36 $ 21 $ 1,606 Commercial mortgages Current (less than 30 days past due) $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 30-89 days past due — — — — — — — Over 90 days past due — — — — — — — Total commercial mortgage $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 June 30, 2022 Amortized Cost by Origination Year 2022 2021 2020 2019 2018 Prior Total Commercial mortgages LTV Less than 50% $ 14 $ 121 $ 153 $ — $ — $ 123 $ 411 50% to 60% 105 292 234 — — 140 771 60% to 75% 110 888 122 — — 10 1,130 75% to 85% — — — — — 9 9 Total commercial mortgages $ 229 $ 1,301 $ 509 $ — $ — $ 282 $ 2,321 Commercial mortgages DSCR Greater than 1.25x $ 229 $ 1,301 $ 509 $ — $ — $ 260 $ 2,299 1.00x - 1.25x — — — — — 13 13 Less than 1.00x — — — — — 9 9 Total commercial mortgages $ 229 $ 1,301 $ 509 $ — $ — $ 282 $ 2,321 December 31, 2021 Amortized Cost by Origination Year 2021 2020 2019 2018 2017 Prior Total Commercial mortgages LTV Less than 50% $ 120 $ 229 $ — $ 6 $ — $ 313 $ 668 50% to 60% 267 192 — — — 11 470 60% to 75% 914 122 — — — — 1,036 Total commercial mortgages $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174 Commercial mortgages DSCR Greater than 1.25x $ 1,301 $ 543 $ — $ 4 $ — $ 284 $ 2,132 1.00x - 1.25x — — — 2 — 31 33 Less than 1.00x — — — — — 9 9 Total commercial mortgages $ 1,301 $ 543 $ — $ 6 $ — $ 324 $ 2,174
Financing Receivable, Nonaccrual	Non-accrual loans by amortized cost as of June 30, 2022 and December 31, 2021, were as follows (in millions): Amortized cost of loans on non-accrual June 30, 2022 December 31, 2021 Residential mortgage: $ 69 $ 72 Commercial mortgage: — — Total non-accrual loans $ 69 $ 72
Allowance for Expected Credit Losses on Loans	The allowances for our mortgage loan portfolio is summarized as follows (in millions): Three months ended June 30, 2022 Six months ended June 30, 2022 Residential Mortgage Commercial Mortgage Total Residential Mortgage Commercial Mortgage Total Beginning Balance $ 26 $ 6 $ 32 $ 25 $ 6 $ 31 Provision for loan losses 3 — 3 4 — 4 Ending Balance $ 29 $ 6 $ 35 $ 29 $ 6 $ 35 Three months ended June 30, 2021 Six months ended June 30, 2021 Residential Mortgage Commercial Mortgage Total Residential Mortgage Commercial Mortgage Total Beginning Balance $ 31 $ 5 $ 36 $ 37 $ 2 $ 39 Provision for loan losses (3) 1 (2) (9) 4 (5) Ending Balance $ 28 $ 6 $ 34 $ 28 $ 6 $ 34
Schedule of Sources of Net Investment Income Reported	The major sources of Interest and investment income reported on the accompanying unaudited Condensed Consolidated Statements of Earnings were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Fixed maturity securities, available-for-sale $ 350 $ 325 $ 682 $ 631 Equity securities 7 5 15 10 Preferred securities 20 18 35 32 Mortgage loans 49 33 88 56 Invested cash and short-term investments 13 1 18 1 Limited partnerships 58 164 171 244 Tax deferred property exchange income 10 4 14 9 Other investments 4 6 13 14 Gross investment income 511 556 1,036 997 Investment expense (48) (42) (95) (81) Interest and investment income $ 463 $ 514 $ 941 $ 916 Recognized Gains and Losses, net Details underlying Recognized gains and losses, net reported on the accompanying unaudited Condensed Consolidated Statements of Earnings were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Net realized (losses) gains on fixed maturity available-for-sale securities $ (61) $ 13 $ (98) $ 53 Net realized/unrealized losses on equity securities (1) (221) (42) (370) (88) Net realized/unrealized (losses) gains on preferred securities (2) (118) 15 (208) 6 Realized (losses) gains on other invested assets (9) 12 (10) 8 Change in allowance for expected credit losses (9) (4) (12) 6 Derivatives and embedded derivatives: Realized (losses) gains on certain derivative instruments (35) 120 15 180 Unrealized (losses) gains on certain derivative instruments (359) 142 (717) 107 Change in fair value of reinsurance related embedded derivatives (3) 141 (27) 263 — Change in fair value of other derivatives and embedded derivatives (5) 3 (8) 3 Realized (losses) gains on derivatives and embedded derivatives (258) 238 (447) 290 Recognized gains and losses, net $ (676) $ 232 $ (1,145) $ 275 (1) Includes net valuation losses of $(222) million and $(46) million for the three months ended June 30, 2022 and 2021, respectively, and net valuation losses of $(388) million and $(92) million for the six months ended June 30, 2022 and 2021, respectively. (2) Includes net valuation (losses) gains of $(118) million and $7 million for the three months ended June 30, 2022 and 2021, respectively, and net valuation (losses) gains of $(207) million and $4 million for the six months ended June 30, 2022 and 2021, respectively. (3) Change in fair value of reinsurance related embedded derivatives is due to activity related to the reinsurance treaties with Kubera (novated from Kubera to Sommerset effective October 31, 2021) and Aspida Re.
Proceeds from Sale of Fixed Maturity Available-for-sale Securities	The proceeds from the sale of fixed-maturity securities and the gross gains and losses associated with those transactions were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Proceeds $ 802 $ 444 $ 1,835 $ 869 Gross gains 1 36 5 68 Gross losses (61) (8) (99) (16)
Schedule of Carrying Value and Maximum Loss Exposure, Unconsolidated VIEs	The following table summarizes the carrying value and the maximum loss exposure of our unconsolidated VIEs as of June 30, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment in limited partnerships $ 2,668 $ 4,343 $ 2,350 $ 3,496 Fixed maturity securities 13,026 14,255 12,382 12,802 Total unconsolidated VIE investments $ 15,694 $ 18,598 $ 14,732 $ 16,298
Schedules of Investment Concentrations	Our underlying investment concentrations that exceed 10% of shareholders equity are as follows (in millions): June 30, 2022 Blackstone Wave Asset Holdco (1) 960 Jade 22 (2) 855 (1) Represents a special purpose vehicle that holds investments in numerous limited partnership investments whose underlying investments are further diversified by holding interest in multiple individual investments and industries. (2) Represents a special purpose vehicle that holds numerous underlying corporate loans across various industries.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
Derivative Financial Instruments (Tables)	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The carrying amounts of derivative instruments, including derivative instruments embedded in FIA and IUL contracts, and reinsurance is as follows (in millions): June 30, 2022 December 31, 2021 Assets: Derivative investments: Call options $ 145 $ 816 Foreign currency forward 1 — Other long-term investments: Other embedded derivatives 24 33 Prepaid expenses and other assets: Reinsurance related embedded derivatives 190 — $ 360 $ 849 Liabilities: Contractholder funds: FIA/ IUL embedded derivatives $ 2,941 $ 3,883 Accounts payable and accrued liabilities: Reinsurance related embedded derivatives — 73 $ 2,941 $ 3,956
Change in Fair Value of Derivative Instruments	The change in fair value of derivative instruments included within Recognized gains and losses, net, in the accompanying unaudited Condensed Consolidated Statements of Earnings is as follows (in millions): Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Net investment gains (losses): Call options $ (395) $ 257 $ (709) $ 279 Futures contracts (8) 5 (5) 4 Foreign currency forwards 9 — 12 4 Other derivatives and embedded derivatives (5) 3 (8) 3 Reinsurance related embedded derivatives 141 (27) 263 — Total net investment gains (losses) $ (258) $ 238 $ (447) $ 290 Benefits and other changes in policy reserves: FIA/ IUL embedded derivatives $ (454) $ 466 $ (942) $ 355
Exposure to Credit Loss on Call Options Held	Information regarding our exposure to credit loss on the call options we hold is presented in the following table (in millions): June 30, 2022 Counterparty Credit Rating Notional Fair Value Collateral Net Credit Risk Merrill Lynch AA//A+ $ 3,735 $ 30 $ — $ 30 Morgan Stanley /Aa3/A+ 1,581 6 7 — Barclay's Bank A+/A1/A 5,421 46 48 — Canadian Imperial Bank of Commerce AA/Aa2/A+ 3,832 22 26 — Wells Fargo A+/A1/BBB+ 1,945 12 13 — Goldman Sachs A/A2/BBB+ 660 4 4 — Credit Suisse A-/A1/A 1,157 4 4 — Truist A+/A2/A 2,476 21 22 — Total $ 20,807 $ 145 $ 124 $ 30 December 31, 2021 Counterparty Credit Rating Notional Fair Value Collateral Net Credit Risk Merrill Lynch AA//A+ $ 3,307 $ 128 $ 86 $ 42 Morgan Stanley /Aa3/A+ 2,184 86 92 — Barclay's Bank A+/A1/A 5,197 231 233 — Canadian Imperial Bank of Commerce AA/Aa2/A+ 2,936 147 151 — Wells Fargo A+/A1/BBB+ 2,445 89 90 — Goldman Sachs A/A2/BBB+ 307 10 10 — Credit Suisse A/A1/A+ 1,485 74 75 — Truist A+/A2/A 1,543 51 53 — Total $ 19,404 $ 816 $ 790 $ 42 (1) An * represents credit ratings that were not available.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Summary of Unfunded Commitments	A summary of unfunded commitments by invested asset class as of June 30, 2022 is included below (in millions): June 30, 2022 Asset Type Unconsolidated VIEs: Limited partnerships $ 1,675 Whole loans 377 Fixed maturity securities, ABS 197 Other fixed maturity securities, AFS 94 Commercial mortgage loans 30 Other assets 137 Residential mortgage loans 1 Committed amounts included in liabilities 1 Total $ 2,512

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Information	Summarized financial information concerning our reportable segments is shown in the following tables. As of and for the three months ended June 30, 2022: Title F&G Corporate and Other Total (In millions) Title premiums $ 2,062 $ — $ — $ 2,062 Other revenues 706 68 8 782 Revenues from external customers 2,768 68 8 2,844 Interest and investment income, including recognized gains and losses, net (214) (1) 2 (213) Total revenues 2,554 67 10 2,631 Depreciation and amortization 34 121 6 161 Interest expense — 9 22 31 Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of unconsolidated affiliates 267 290 (19) 538 Income tax expense (benefit) 111 60 (7) 164 Earnings (loss) from continuing operations before equity in earnings (loss) of unconsolidated affiliates 156 230 (12) 374 Equity in earnings of unconsolidated affiliates 14 — — 14 Net earnings (loss) from continuing operations $ 170 $ 230 $ (12) $ 388 Assets $ 9,309 $ 49,608 $ 2,313 $ 61,230 Goodwill 2,516 1,756 266 4,538 As of and for the three months ended June 30, 2021: Title F&G Corporate and Other Total (In millions) Title premiums $ 2,160 $ — $ — $ 2,160 Other revenues 839 62 47 948 Revenues from external customers 2,999 62 47 3,108 Interest and investment income, including recognized gains and losses, net (3) 740 9 746 Total revenues 2,996 802 56 3,854 Depreciation and amortization 34 65 6 105 Interest expense — 7 21 28 Earnings (loss) from continuing operations before income taxes and equity in earnings of unconsolidated affiliates 644 97 (28) 713 Income tax expense (benefit) 160 21 (5) 176 Earnings (loss) from continuing operations before equity in earnings (loss) of unconsolidated affiliates 484 76 (23) 537 Equity in earnings (loss) of unconsolidated affiliates 14 — — 14 Net earnings (loss) from continuing operations $ 498 $ 76 $ (23) $ 551 Assets $ 9,565 $ 43,206 $ 1,749 $ 54,520 Goodwill 2,484 1,756 266 4,506 As of and for the six months ended June 30, 2022: Title F&G Corporate and Other Total (In millions) Title premiums $ 3,928 $ — $ — $ 3,928 Other revenues 1,371 662 39 2,072 Revenues from external customers 5,299 662 39 6,000 Interest and investment income, including recognized gains and losses, net (362) 153 5 (204) Total revenues 4,937 815 44 5,796 Depreciation and amortization 67 264 12 343 Interest expense — 17 44 61 Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of unconsolidated affiliates 516 631 (57) 1,090 Income tax expense (benefit) 168 165 (14) 319 Earnings (loss) from continuing operations before equity in earnings (loss) of unconsolidated affiliates 348 466 (43) 771 Equity in earnings of unconsolidated affiliates 16 — — 16 Net earnings (loss) from continuing operations $ 364 $ 466 $ (43) $ 787 Assets $ 9,309 $ 49,608 $ 2,313 $ 61,230 Goodwill 2,516 1,756 266 4,538 As of and for the six months ended June 30, 2021: Title F&G Corporate and Other Total (In millions) Title premiums $ 3,964 $ — $ — $ 3,964 Other revenues 1,584 126 89 1,799 Revenues from external customers 5,548 126 89 5,763 Interest and investment income, including recognized gains and losses, net (33) 1,215 9 1,191 Total revenues 5,515 1,341 98 6,954 Depreciation and amortization 67 209 12 288 Interest expense — 15 41 56 Earnings (loss) from continuing operations before income taxes and equity in earnings of unconsolidated affiliates 1,083 453 (66) 1,470 Income tax expense (benefit) 263 93 (14) 342 Earnings (loss) from continuing operations before equity in earnings (loss) of unconsolidated affiliates 820 360 (52) 1,128 Equity in earnings (loss) of unconsolidated affiliates 22 — 5 27 Net earnings (loss) $ 842 $ 360 $ (47) $ 1,155 Assets $ 9,565 $ 43,206 $ 1,749 $ 54,520 Goodwill 2,484 1,756 266 4,506

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
Supplemental Cash Flow Information (Tables)	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	The following supplemental cash flow information is provided with respect to certain cash payment and non-cash investing and financing activities. Six months ended June 30, 2022 2021 Cash paid for: Interest $ 63 $ 56 Income taxes 202 307 Deferred sales inducements 38 44 Non-cash investing and financing activities: Change in proceeds of sales of investments available for sale receivable in period 151 (1) Change in purchases of investments available for sale payable in period 212 60 Change in contractholder deposits for FABN issuance 300 — Lease liabilities recognized in exchange for lease right-of-use assets 42 18 Remeasurement of lease liabilities 41 37

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
Revenue Recognition (Tables)	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Our revenue consists of: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Revenue Stream Income Statement Classification Segment Total Revenue Revenue from insurance contracts: (in millions) Direct title insurance premiums Direct title insurance premiums Title $ 859 $ 904 $ 1,626 $ 1,650 Agency title insurance premiums Agency title insurance premiums Title 1,203 1,256 2,302 2,314 Life insurance premiums, insurance and investment product fees, and other Escrow, title-related and other fees F&G 68 62 662 126 Home warranty Escrow, title-related and other fees Title 43 48 77 87 Total revenue from insurance contracts 2,173 2,270 4,667 4,177 Revenue from contracts with customers: Escrow fees Escrow, title-related and other fees Title 294 374 559 698 Other title-related fees and income Escrow, title-related and other fees Title 210 232 406 437 ServiceLink, excluding title premiums, escrow fees, and subservicing fees Escrow, title-related and other fees Title 92 97 186 187 Real estate technology Escrow, title-related and other fees Corporate and other 41 24 79 56 Other Escrow, title-related and other fees Corporate and other (33) 23 (40) 33 Total revenue from contracts with customers 604 750 1,190 1,411 Other revenue: Loan subservicing revenue Escrow, title-related and other fees Title 67 88 143 175 Interest and investment income Interest and investment income Various 463 514 941 916 Recognized gains and losses, net Recognized gains and losses, net Various (676) 232 (1,145) 275 Total revenues Total revenues $ 2,631 $ 3,854 $ 5,796 $ 6,954
Information about Trade Receivables and Deferred Revenue	The following table provides information about trade receivables and deferred revenue: June 30, 2022 December 31, 2021 (In millions) Trade receivables $ 497 $ 524 Deferred revenue (contract liabilities) 257 144

Value of Business Acquired, D_2

Value of Business Acquired, Deferred Acquisition Costs and Deferred Sales Inducements (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amounts of Intangible Assets, VOBA and DAC DSI	A summary of the changes in the carrying amounts of our VOBA, DAC and DSI intangible assets is as follows (in millions): VOBA DAC DSI Total Balance at January 1, 2022 $ 1,185 $ 761 $ 88 $ 2,034 Deferrals — 334 38 372 Amortization (177) (80) (25) (282) Interest 13 12 1 26 Unlocking 2 (1) 5 6 Adjustment for net unrealized investment (gains) losses 577 156 49 782 Balance at June 30, 2022 $ 1,600 $ 1,182 $ 156 $ 2,938 VOBA DAC DSI Total Balance at January 1, 2021 $ 1,466 $ 222 $ 36 $ 1,724 Deferrals — 278 44 322 Amortization (204) (16) (12) (232) Interest 15 5 — 20 Unlocking 16 — 1 17 Adjustment for net unrealized investment (gains) losses (15) (27) (5) (47) Purchase price allocation adjustments 61 — — 61 Balance at June 30, 2021 $ 1,339 $ 462 $ 64 $ 1,865
Estimated Amortization Expense for VOBA in Future Fiscal Periods	For the in-force liabilities as of June 30, 2022, the estimated amortization expense for VOBA in future fiscal periods is as follows (in millions): Estimated Amortization Expense Fiscal Year 2022 $ (17) 2023 86 2024 177 2025 161 2026 145 Thereafter 703

F&G Reinsurance (Tables)

F&G Reinsurance (Tables)	6 Months Ended
F&G Reinsurance (Tables)	Jun. 30, 2022
Reinsurance Disclosures [Abstract]
Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes	The effects of reinsurance on net premiums earned and net benefits incurred (benefits paid and reserve changes) for the three and six months ended June 30, 2022 and June 30, 2021 were as follows (in millions): Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 39 $ 184 $ 44 $ 891 $ 606 $ 697 $ 87 $ 1,185 Ceded (35) (602) (38) (316) (67) (907) (71) (636) Net $ 4 $ (418) $ 6 $ 575 $ 539 $ (210) $ 16 $ 549

Basis of Financial Statements -

Basis of Financial Statements - Recent Developments (Details) - USD ($) $ in Millions	1 Months Ended
	Nov. 30, 2017	Dec. 31, 2022	Jun. 30, 2022	Mar. 14, 2022
F&G \| Fidelity National Financial Inc.
Business Acquisition [Line Items]
Dividend to shareholders, pro rata percentage of common stock				15%
Forecast \| F&G \| Fidelity National Financial Inc. \| Subsequent Event
Business Acquisition [Line Items]
Ownership percentage by parent		85%
Revolving Credit Facility \| Affiliated Entity \| Revolver Note
Business Acquisition [Line Items]
Line of credit facility	$ 100
Basis spread on variable rate (as percent)	4.50%
Revolver, automatic extension	5 years
Revolving Credit Facility \| Affiliated Entity \| Borrowing Under Revolver
Business Acquisition [Line Items]
Advances to affiliate			$ 85

Basis of Financial Statements_2

Basis of Financial Statements - Income Tax (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Income tax expense	$ 164	$ 176	$ 319	$ 342
Income tax expense as percentage of earnings before income taxes, percent	30%	25%	29%	23%

Basis of Financial Statements_3

Basis of Financial Statements - Earnings Per Share (Details) - shares shares in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Antidilutive securities excluded from computation of EPS, less than (in shares)	1	1

Summary of Reserve for Title _3

Summary of Reserve for Title Claim Losses (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Loss Contingencies [Line Items]
Change in insurance recoverable	$ (109)	$ (72)
Title
Loss Contingencies [Line Items]
Beginning balance	1,883	1,623
Change in insurance recoverable	(108)	(22)
Claim loss provision related to:
Current year	177	178
Total title claim loss provision	177	178
Claims paid, net of recoupments related to:
Current year	(7)	(2)
Prior years	(102)	(100)
Total title claims paid, net of recoupments	(109)	(102)
Ending balance of claim loss reserve for title insurance	$ 1,843	$ 1,677
Provision for title insurance claim losses as a percentage of title insurance premiums	4.50%	4.50%

Summary of Reserve for Title _4

Summary of Reserve for Title Claim Losses - Narrative (Details) - Pending Litigation - USD ($) $ in Millions	Nov. 02, 2020	Sep. 03, 2020	Jul. 07, 2020	Jun. 29, 2020	Mar. 06, 2020	Dec. 13, 2019
Kim Funding, LLC, Kim H. Peterson, Joseph J. Cohen, and ABC Funding Strategies, LLC v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman
Loss Contingencies [Line Items]
Plaintiffs claim losses amount						$ 250
Wakefield Capital, LLC, Wakefield Investments, LLC, 2Budz Holding, LLC, Doug and Kristine Heidrich, and Jeff and Heidi Orr v. Chicago Title Co. and Chicago Title Ins. Co.
Loss Contingencies [Line Items]
Plaintiffs claim losses amount					$ 7
Susan Heller Fenley Separate Property Trust, Susan Heller Fenley Inherited Roth IRA, Shelley Lynn Tarditi Trust and ROJ, LLC v. Chicago Title Co., Chicago Title Ins. Co. et al
Loss Contingencies [Line Items]
Plaintiffs claim losses amount				$ 6
Banc of California, National Association v. Laurie Peterson
Loss Contingencies [Line Items]
Plaintiffs claim losses amount			$ 35
Laurie Peterson v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman
Loss Contingencies [Line Items]
Plaintiffs claim losses amount			$ 250
CalPrivate Bank v. Kim H. Peterson Trustee of the Peterson Family Trust dated April 14 1992
Loss Contingencies [Line Items]
Plaintiffs claim losses amount		$ 12
Kim H. Peterson Trustee of the Peterson Family Trust dated April 14 1992 v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman
Loss Contingencies [Line Items]
Plaintiffs claim losses amount		$ 250
CalPrivate Bank v. Chicago Title Co. and Chicago Title Ins. Co.
Loss Contingencies [Line Items]
Plaintiffs claim losses amount	$ 12

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying Amounts of Assets and Liabilities at Estimated Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Assets
Fixed maturity securities available for sale	$ 30,432	$ 31,990
Derivative investments	145	816
Total financial assets at fair value	6,229	5,600
Level 1
Assets
Cash and cash equivalents	2,426	4,360
Short term investments	1,814	168
Derivative investments	0	0
Total financial assets at fair value	6,040	6,803
Derivatives:
Total financial liabilities at fair value	0	0
Level 2
Assets
Cash and cash equivalents	0	0
Short term investments	774	2
Derivative investments	145	816
Total financial assets at fair value	25,449	27,948
Derivatives:
Total financial liabilities at fair value	0	73
Level 3
Assets
Cash and cash equivalents	0	0
Short term investments	0	321
Derivative investments	0	0
Total financial assets at fair value	6,229	5,600
Derivatives:
Total financial liabilities at fair value	2,941	3,883
Fair Value
Assets
Cash and cash equivalents	2,426	4,360
Short term investments	2,588	491
Derivative investments	145	816
Total financial assets at fair value	37,718	40,351
Derivatives:
Total financial liabilities at fair value	2,941	3,956
Carrying Value
Assets
Cash and cash equivalents	2,426	4,360
Short term investments	2,588	491
Derivative investments	145	816
Total financial assets at fair value	37,718	40,351
Derivatives:
Total financial liabilities at fair value	2,941	3,956
Reinsurance related embedded derivative, included in other assets \| Level 1
Assets
Derivative investments	0
Reinsurance related embedded derivative, included in other assets \| Level 2
Assets
Derivative investments	191
Reinsurance related embedded derivative, included in other assets \| Level 3
Assets
Derivative investments	0
Reinsurance related embedded derivative, included in other assets \| Fair Value
Assets
Derivative investments	191
Reinsurance related embedded derivative, included in other assets \| Carrying Value
Assets
Derivative investments	191
FIA embedded derivatives, included in contractholder funds \| Level 1
Derivatives:
Derivative liability	0	0
FIA embedded derivatives, included in contractholder funds \| Level 2
Derivatives:
Derivative liability	0	0
FIA embedded derivatives, included in contractholder funds \| Level 3
Derivatives:
Derivative liability	2,941	3,883
FIA embedded derivatives, included in contractholder funds \| Fair Value
Derivatives:
Derivative liability	2,941	3,883
FIA embedded derivatives, included in contractholder funds \| Carrying Value
Derivatives:
Derivative liability	2,941	3,883
Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities \| Level 1
Derivatives:
Derivative liability		0
Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities \| Level 2
Derivatives:
Derivative liability		73
Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities \| Level 3
Derivatives:
Derivative liability		0
Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities \| Fair Value
Derivatives:
Derivative liability		73
Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities \| Carrying Value
Derivatives:
Derivative liability		73
Asset-backed securities
Assets
Fixed maturity securities available for sale	9,448	8,695
Asset-backed securities \| Level 1
Assets
Fixed maturity securities available for sale	0	0
Asset-backed securities \| Level 2
Assets
Fixed maturity securities available for sale	4,771	4,736
Asset-backed securities \| Level 3
Assets
Fixed maturity securities available for sale	4,677	3,959
Asset-backed securities \| Fair Value
Assets
Fixed maturity securities available for sale	9,448	8,695
Asset-backed securities \| Carrying Value
Assets
Fixed maturity securities available for sale	9,448	8,695
Commercial mortgage-backed securities
Assets
Fixed maturity securities available for sale	3,053	2,979
Commercial mortgage-backed securities \| Level 1
Assets
Fixed maturity securities available for sale	0	0
Commercial mortgage-backed securities \| Level 2
Assets
Fixed maturity securities available for sale	3,016	2,944
Commercial mortgage-backed securities \| Level 3
Assets
Fixed maturity securities available for sale	37	35
Commercial mortgage-backed securities \| Fair Value
Assets
Fixed maturity securities available for sale	3,053	2,979
Commercial mortgage-backed securities \| Carrying Value
Assets
Fixed maturity securities available for sale	3,053	2,979
Corporates
Assets
Fixed maturity securities available for sale	14,184	16,494
Corporates \| Level 1
Assets
Fixed maturity securities available for sale	40	37
Corporates \| Level 2
Assets
Fixed maturity securities available for sale	12,770	15,322
Corporates \| Level 3
Assets
Fixed maturity securities available for sale	1,374	1,135
Corporates \| Fair Value
Assets
Fixed maturity securities available for sale	14,184	16,494
Corporates \| Carrying Value
Assets
Fixed maturity securities available for sale	14,184	16,494
Hybrids
Assets
Fixed maturity securities available for sale	769	912
Hybrids \| Level 1
Assets
Fixed maturity securities available for sale	118	132
Hybrids \| Level 2
Assets
Fixed maturity securities available for sale	651	780
Hybrids \| Level 3
Assets
Fixed maturity securities available for sale	0	0
Hybrids \| Fair Value
Assets
Fixed maturity securities available for sale	769	912
Hybrids \| Carrying Value
Assets
Fixed maturity securities available for sale	769	912
Municipals \| Level 1
Assets
Fixed maturity securities available for sale	0	0
Municipals \| Level 2
Assets
Fixed maturity securities available for sale	1,278	1,458
Municipals \| Level 3
Assets
Fixed maturity securities available for sale	33	43
Municipals \| Fair Value
Assets
Fixed maturity securities available for sale	1,311	1,501
Municipals \| Carrying Value
Assets
Fixed maturity securities available for sale	1,311	1,501
Residential mortgage-backed securities
Assets
Fixed maturity securities available for sale	902	731
Residential mortgage-backed securities \| Level 1
Assets
Fixed maturity securities available for sale	0	0
Residential mortgage-backed securities \| Level 2
Assets
Fixed maturity securities available for sale	893	731
Residential mortgage-backed securities \| Level 3
Assets
Fixed maturity securities available for sale	9	0
Residential mortgage-backed securities \| Fair Value
Assets
Fixed maturity securities available for sale	902	731
Residential mortgage-backed securities \| Carrying Value
Assets
Fixed maturity securities available for sale	902	731
U.S. Government
Assets
Fixed maturity securities available for sale	530	394
U.S. Government \| Level 1
Assets
Fixed maturity securities available for sale	530	394
U.S. Government \| Level 2
Assets
Fixed maturity securities available for sale	0	0
U.S. Government \| Level 3
Assets
Fixed maturity securities available for sale	0	0
U.S. Government \| Fair Value
Assets
Fixed maturity securities available for sale	530	394
U.S. Government \| Carrying Value
Assets
Fixed maturity securities available for sale	530	394
Foreign Governments
Assets
Fixed maturity securities available for sale	235	284
Foreign Governments \| Level 1
Assets
Fixed maturity securities available for sale	0	0
Foreign Governments \| Level 2
Assets
Fixed maturity securities available for sale	219	266
Foreign Governments \| Level 3
Assets
Fixed maturity securities available for sale	16	18
Foreign Governments \| Fair Value
Assets
Fixed maturity securities available for sale	235	284
Foreign Governments \| Carrying Value
Assets
Fixed maturity securities available for sale	235	284
Preferred securities
Assets
Equity and preferred securities	1,154	1,401
Preferred securities \| Level 1
Assets
Equity and preferred securities	411	506
Preferred securities \| Level 2
Assets
Equity and preferred securities	741	893
Preferred securities \| Level 3
Assets
Equity and preferred securities	1	2
Preferred securities \| Fair Value
Assets
Equity and preferred securities	1,153	1,401
Preferred securities \| Carrying Value
Assets
Equity and preferred securities	1,153	1,401
Equity securities \| Level 1
Assets
Equity and preferred securities	701	1,206
Equity securities \| Level 2
Assets
Equity and preferred securities	0	0
Equity securities \| Level 3
Assets
Equity and preferred securities	10	9
Equity securities \| Fair Value
Assets
Equity and preferred securities	711	1,215
Equity securities \| Carrying Value
Assets
Equity and preferred securities	711	1,215
Other long-term investments \| Level 1
Assets
Other long-term investments	0	0
Other long-term investments \| Level 2
Assets
Other long-term investments	0	0
Other long-term investments \| Level 3
Assets
Other long-term investments	72	78
Other long-term investments \| Fair Value
Assets
Other long-term investments	72	78
Other long-term investments \| Carrying Value
Assets
Other long-term investments	$ 72	$ 78

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narrative (Details)	Jun. 30, 2022 $ / Contract
Credit linked note \| Income-Approach
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, strike price	0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Quantitative Information Regarding Significant Unobservable Inputs Used for Recurring Level 3 Fair Value Measurements of Financial Instruments (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 6,229	$ 5,600
Liabilities, fair value	2,941	3,883
Fixed indexed annuities \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities, fair value	$ 2,941	$ 3,883
Minimum \| Fixed indexed annuities \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market value of option	0%	0%
Swap rates	1.28%	0.05%
Mortality multiplier	100%	100%
Surrender rates	0.25%	0.25%
Partial withdrawals	2%	2%
Non-performance spread	0.76%	0.43%
Option cost	0%	0.07%
Maximum \| Fixed indexed annuities \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market value of option	23.28%	38.72%
Swap rates	3.38%	1.94%
Mortality multiplier	100%	100%
Surrender rates	70%	70%
Partial withdrawals	29.41%	23.26%
Non-performance spread	1.64%	1.01%
Option cost	4.97%	4.97%
Weighted Average \| Fixed indexed annuities \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market value of option	0.48%	3.16%
Swap rates	2.33%	1%
Mortality multiplier	100%	100%
Surrender rates	6.38%	6.26%
Partial withdrawals	2.74%	2.72%
Non-performance spread	1.50%	0.68%
Option cost	1.86%	1.83%
Affiliated Entity \| Minimum \| Discounted cash flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		0.1270
Affiliated Entity \| Maximum \| Discounted cash flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		0.1270
Affiliated Entity \| Weighted Average \| Discounted cash flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		0.1270
Asset-backed securities \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 4,517	$ 3,844
Asset-backed securities \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 160	$ 115
Asset-backed securities \| Minimum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	41.02%	52.56%
Asset-backed securities \| Minimum \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	66.37%	93.02%
Asset-backed securities \| Maximum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	228.74%	260.70%
Asset-backed securities \| Maximum \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	100.34%	108.45%
Asset-backed securities \| Weighted Average \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	92.19%	97.06%
Asset-backed securities \| Weighted Average \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	98.38%	104.95%
Commercial mortgage-backed securities \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 21	$ 24
Commercial mortgage-backed securities \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 16	$ 11
Commercial mortgage-backed securities \| Minimum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	112.82%	126.70%
Commercial mortgage-backed securities \| Minimum \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	81.41%	97.91%
Commercial mortgage-backed securities \| Maximum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	112.82%	126.70%
Commercial mortgage-backed securities \| Maximum \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	71.25%	97.91%
Commercial mortgage-backed securities \| Weighted Average \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	112.82%	126.70%
Commercial mortgage-backed securities \| Weighted Average \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	88.63%	97.91%
Corporates \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 602	$ 380
Corporates \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	755	741
Corporates \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 17	$ 14
Corporates \| Minimum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	0%	0%
Corporates \| Minimum \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	75.42%	85.71%
Corporates \| Minimum \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.4400
Corporates \| Minimum \| Discounted cash flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities		0.4400
Corporates \| Maximum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	108.46%	109.69%
Corporates \| Maximum \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	124.99%	119.57%
Corporates \| Maximum \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	1
Corporates \| Maximum \| Discounted cash flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities		1
Corporates \| Weighted Average \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	92.11%	100.91%
Corporates \| Weighted Average \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	94.59%	107.72%
Corporates \| Weighted Average \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.7700
Corporates \| Weighted Average \| Discounted cash flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities		0.6200
Municipals \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 33	$ 43
Municipals \| Minimum \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	106.40%	135.09%
Municipals \| Maximum \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	106.40%	135.09%
Municipals \| Weighted Average \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	106.40%	135.09%
Residential mortgage-backed securities \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 9
Residential mortgage-backed securities \| Minimum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	0%
Residential mortgage-backed securities \| Maximum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	93.02%
Residential mortgage-backed securities \| Weighted Average \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	93.02%
Foreign Governments \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 16	$ 18
Foreign Governments \| Minimum \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	98.73%	107.23%
Foreign Governments \| Maximum \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	99.59%	116.44%
Foreign Governments \| Weighted Average \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	99.32%	110.11%
Short term investments \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value		$ 321
Short term investments \| Minimum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes		100%
Short term investments \| Maximum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes		100%
Short term investments \| Weighted Average \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes		100%
Preferred securities \| Minimum \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	1
Preferred securities \| Maximum \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	1
Preferred securities \| Weighted Average \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	1
Preferred securities \| Affiliated Entity \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 1
Preferred securities \| Affiliated Entity \| Income-Approach
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value		$ 2
Discount rate		2.43%
Equity securities \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value		$ 3
Equity securities \| Minimum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes		623%
Equity securities \| Minimum \| Broker-quoted \| EBITDA multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	5.5	5.9
Equity securities \| Maximum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes		623%
Equity securities \| Maximum \| Broker-quoted \| EBITDA multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	5.5	5.9
Equity securities \| Weighted Average \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes		623%
Equity securities \| Weighted Average \| Broker-quoted \| EBITDA multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	5.5	5.9
Equity securities \| Affiliated Entity \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 6
Equity securities \| Affiliated Entity \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 4	$ 4
Equity securities \| Affiliated Entity \| Black Scholes model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value		$ 2
Equity securities \| Affiliated Entity \| Black Scholes model \| Dividend Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		0
Equity securities \| Affiliated Entity \| Minimum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	6,050%
Equity securities \| Affiliated Entity \| Minimum \| Discounted cash flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	0.1110
Equity securities \| Affiliated Entity \| Minimum \| Black Scholes model \| Risk Free Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		0.0100
Equity securities \| Affiliated Entity \| Minimum \| Black Scholes model \| Strike Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		1.50
Equity securities \| Affiliated Entity \| Minimum \| Black Scholes model \| Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		0.8100
Equity securities \| Affiliated Entity \| Maximum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	6,050%
Equity securities \| Affiliated Entity \| Maximum \| Discounted cash flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	0.1110
Equity securities \| Affiliated Entity \| Maximum \| Black Scholes model \| Risk Free Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		0.0100
Equity securities \| Affiliated Entity \| Maximum \| Black Scholes model \| Strike Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		1.50
Equity securities \| Affiliated Entity \| Maximum \| Black Scholes model \| Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		0.8100
Equity securities \| Affiliated Entity \| Weighted Average \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	6,050%
Equity securities \| Affiliated Entity \| Weighted Average \| Discounted cash flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	0.1110
Equity securities \| Affiliated Entity \| Weighted Average \| Black Scholes model \| Risk Free Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		0.0100
Equity securities \| Affiliated Entity \| Weighted Average \| Black Scholes model \| Strike Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		1.50
Equity securities \| Affiliated Entity \| Weighted Average \| Black Scholes model \| Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		0.8100
Available-for-sale embedded derivative \| Third Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market value of fund		100%
Available-for-sale embedded derivative \| Black Scholes model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 24
Market value of fund	100%
Available-for-sale embedded derivative \| Affiliated Entity \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value		$ 34
Secured borrowing receivable \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 10
Secured borrowing receivable \| Minimum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	100%
Secured borrowing receivable \| Maximum \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	100%
Secured borrowing receivable \| Weighted Average \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes	100%
Credit linked note \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 17
Offered quotes	100%
Credit linked note \| Affiliated Entity \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Offered quotes		100%
Credit linked note \| Affiliated Entity \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value		$ 23
Investment in affiliate \| Broker-quoted
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 21
Investment in affiliate \| Minimum \| EBITDA multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in affiliate	8	8
Investment in affiliate \| Maximum \| EBITDA multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in affiliate	8	8
Investment in affiliate \| Affiliated Entity \| Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value		$ 21

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Changes to Fair Value of Financial Instruments Level 3 (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	$ 5,496	$ 3,467	$ 5,600	$ 3,267
Assets, Total Gains (Losses) Included in Earnings	(5)	4	(9)	14
Assets, Total Gains (Losses) Included in AOCI	(214)	30	(431)	(30)
Assets, Purchases	1,144	1,138	1,643	1,542
Assets, Sales	(40)	(8)	(39)	(8)
Assets, Settlements	(134)	(205)	(313)	(345)
Assets, Net transfer In (Out) of Level 3	(18)	(26)	(222)	(40)
Balance at End of Period	6,229	4,400	6,229	4,400
Change in Unrealized Gains (Losses) Incl in OCI	(221)	33	(441)	82
Liabilities
Balance at Beginning of Period	3,395	3,297	3,883	3,409
Liabilities, Total Gains (Losses) Included in Earnings	(454)	466	(942)	355
Liabilities, Total Gains (Losses) Included in AOCI	0	0	0	0
Liabilities, Purchases	0	0	0	0
Liabilities, Sales	0	(4)	0	(4)
Liabilities, Settlements	0	0	0	(1)
Liabilities, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	2,941	3,759	2,941	3,759
Change in Unrealized Gains (Losses) Included in OCI	0	0	0	0
Future policy benefits
Liabilities
Balance at Beginning of Period		4		5
Liabilities, Total Gains (Losses) Included in Earnings		0		0
Liabilities, Total Gains (Losses) Included in AOCI		0		0
Liabilities, Purchases		0		0
Liabilities, Sales		(4)		(4)
Liabilities, Settlements		0		(1)
Liabilities, Net transfer In (Out) of Level 3		0		0
Balance at End of Period		0		0
Change in Unrealized Gains (Losses) Included in OCI		0		0
FIA embedded derivatives, included in contractholder funds
Liabilities
Balance at Beginning of Period	3,395	3,293	3,883	3,404
Liabilities, Total Gains (Losses) Included in Earnings	(454)	466	(942)	355
Liabilities, Total Gains (Losses) Included in AOCI	0	0	0	0
Liabilities, Purchases	0	0	0	0
Liabilities, Sales	0	0	0	0
Liabilities, Settlements	0	0	0	0
Liabilities, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	2,941	3,759	2,941	3,759
Change in Unrealized Gains (Losses) Included in OCI	0	0	0	0
Asset-backed securities
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	4,161	1,593	3,959	1,350
Assets, Total Gains (Losses) Included in Earnings	1	0	1	0
Assets, Total Gains (Losses) Included in AOCI	(142)	20	(272)	(3)
Assets, Purchases	827	813	1,227	1,171
Assets, Sales	(39)	0	(39)	0
Assets, Settlements	(126)	(90)	(278)	(182)
Assets, Net transfer In (Out) of Level 3	(5)	(27)	79	(27)
Balance at End of Period	4,677	2,309	4,677	2,309
Change in Unrealized Gains (Losses) Incl in OCI	(153)	18	(291)	14
Commercial mortgage-backed securities
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	40	25	35	26
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	(3)	0	(5)	(1)
Assets, Purchases	0	0	0	0
Assets, Sales	0	0	0	0
Assets, Settlements	0	0	0	0
Assets, Net transfer In (Out) of Level 3	0	0	7	0
Balance at End of Period	37	25	37	25
Change in Unrealized Gains (Losses) Incl in OCI	(2)	0	(4)	1
Corporates
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	1,141	1,247	1,135	1,289
Assets, Total Gains (Losses) Included in Earnings	0	2	0	9
Assets, Total Gains (Losses) Included in AOCI	(64)	16	(137)	(26)
Assets, Purchases	307	18	386	57
Assets, Sales	0	(7)	0	(8)
Assets, Settlements	(6)	(76)	(32)	(107)
Assets, Net transfer In (Out) of Level 3	(4)	1	22	(13)
Balance at End of Period	1,374	1,201	1,374	1,201
Change in Unrealized Gains (Losses) Incl in OCI	(61)	18	(134)	37
Hybrids
Fixed maturity securities available-for-sale:
Balance at Beginning of Period			0	4
Assets, Total Gains (Losses) Included in Earnings			0	0
Assets, Total Gains (Losses) Included in AOCI			0	0
Assets, Purchases			0	0
Assets, Sales			0	0
Assets, Settlements			0	(4)
Assets, Net transfer In (Out) of Level 3			0	0
Balance at End of Period	0	0	0	0
Change in Unrealized Gains (Losses) Incl in OCI			0	0
Municipals
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	37	41	43	43
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	(4)	2	(10)	0
Assets, Purchases	0	0	0	0
Assets, Sales	0	0	0	0
Assets, Settlements	0	0	0	0
Assets, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	33	43	33	43
Change in Unrealized Gains (Losses) Incl in OCI	(4)	3	(9)	7
Residential mortgage-backed securities
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	0	487	0	483
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	0	(10)	0	2
Assets, Purchases	9	5	9	10
Assets, Sales	0	0	0	0
Assets, Settlements	0	(39)	0	(52)
Assets, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	9	443	9	443
Change in Unrealized Gains (Losses) Incl in OCI	0	(6)	0	21
Foreign Governments
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	17	17	18	17
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	(1)	0	(2)	0
Assets, Purchases	0	0	0	0
Assets, Sales	0	0	0	0
Assets, Settlements	0	0	0	0
Assets, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	16	17	16	17
Change in Unrealized Gains (Losses) Incl in OCI	(1)	0	(1)	2
Short term investments
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	19	0	321	0
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	0	1	(1)	1
Assets, Purchases	0	302	20	302
Assets, Sales	0	0	0	0
Assets, Settlements	0	0	0	0
Assets, Net transfer In (Out) of Level 3	(19)	0	(340)	0
Balance at End of Period	0	303	0	303
Change in Unrealized Gains (Losses) Incl in OCI	0	0	(1)	0
Preferred securities
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	1		2
Assets, Total Gains (Losses) Included in Earnings	0		0
Assets, Total Gains (Losses) Included in AOCI	0		(1)
Assets, Purchases	0		0
Assets, Sales	0		0
Assets, Settlements	0		0
Assets, Net transfer In (Out) of Level 3	0		0
Balance at End of Period	1		1
Change in Unrealized Gains (Losses) Incl in OCI	0		(1)
Equity securities
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	10		9
Assets, Total Gains (Losses) Included in Earnings	0		0
Assets, Total Gains (Losses) Included in AOCI	0		0
Assets, Purchases	1		1
Assets, Sales	(1)		0
Assets, Settlements	0		0
Assets, Net transfer In (Out) of Level 3	0		0
Balance at End of Period	10		10
Change in Unrealized Gains (Losses) Incl in OCI	0		0
Equity and preferred securities
Fixed maturity securities available-for-sale:
Balance at Beginning of Period		10		5
Assets, Total Gains (Losses) Included in Earnings		0		2
Assets, Total Gains (Losses) Included in AOCI		1		1
Assets, Purchases		0		2
Assets, Sales		(1)		0
Assets, Settlements		0		0
Assets, Net transfer In (Out) of Level 3		0		0
Balance at End of Period		10		10
Change in Unrealized Gains (Losses) Incl in OCI		0		0
Available-for-sale embedded derivative
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	30	28	34	27
Assets, Total Gains (Losses) Included in Earnings	(6)	2	(10)	3
Assets, Total Gains (Losses) Included in AOCI	0	0	0	0
Assets, Purchases	0	0	0	0
Assets, Sales	0	0	0	0
Assets, Settlements	0	0	0	0
Assets, Net transfer In (Out) of Level 3	0		0	0
Balance at End of Period	24	30	24	30
Change in Unrealized Gains (Losses) Incl in OCI	0	0	0	0
Investment in affiliate
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	21		21
Assets, Total Gains (Losses) Included in Earnings	0		0
Assets, Total Gains (Losses) Included in AOCI	0		0
Assets, Purchases	0		0
Assets, Sales	0		0
Assets, Settlements	0		0
Assets, Net transfer In (Out) of Level 3	0		0
Balance at End of Period	21		21
Change in Unrealized Gains (Losses) Incl in OCI	0		0
Credit linked note
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	19	19	23	23
Assets, Total Gains (Losses) Included in Earnings	0	0	0	0
Assets, Total Gains (Losses) Included in AOCI	0	0	(3)	(4)
Assets, Purchases	0	0	0	0
Assets, Sales	0	0	0	0
Assets, Settlements	(2)	0	(3)	0
Assets, Net transfer In (Out) of Level 3	0	0	0	0
Balance at End of Period	17	19	17	19
Change in Unrealized Gains (Losses) Incl in OCI	0	$ 0	0	$ 0
Secured borrowing receivable
Fixed maturity securities available-for-sale:
Balance at Beginning of Period	0		0
Assets, Total Gains (Losses) Included in Earnings	0		0
Assets, Total Gains (Losses) Included in AOCI	0		0
Assets, Purchases	0		0
Assets, Sales	0		0
Assets, Settlements	0		0
Assets, Net transfer In (Out) of Level 3	10		10
Balance at End of Period	10		10
Change in Unrealized Gains (Losses) Incl in OCI	$ 0		$ 0

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Assets
Trade and notes receivables, net of allowance	$ 616	$ 557
Total Estimated Fair Value
Assets
FHLB common stock	90	72
Commercial mortgage loans	2,119	2,265
Residential mortgage loans	1,971	1,549
Policy loans	44	39
Other invested assets	69	57
Company-owned life insurance	352	333
Trade and notes receivables, net of allowance	616	557
Total	5,261	4,872
Liabilities
Investment contracts, included in contractholder funds	31,550	27,448
Debt	2,711	3,218
Total	34,261	30,666
Carrying Value
Assets
FHLB common stock	90	72
Commercial mortgage loans	2,315	2,168
Residential mortgage loans	2,122	1,581
Policy loans	44	39
Other invested assets	69	57
Company-owned life insurance	352	333
Trade and notes receivables, net of allowance	616	557
Total	5,608	4,807
Liabilities
Investment contracts, included in contractholder funds	34,990	31,529
Debt	3,094	3,096
Total	38,084	34,625
Level 1
Assets
FHLB common stock	0	0
Commercial mortgage loans	0	0
Residential mortgage loans	0	0
Policy loans	0	0
Other invested assets	0	0
Company-owned life insurance	0	0
Trade and notes receivables, net of allowance	0	0
Total	0	0
Liabilities
Investment contracts, included in contractholder funds	0	0
Debt	0	0
Total	0	0
Level 2
Assets
FHLB common stock	90	72
Commercial mortgage loans	0	0
Residential mortgage loans	0	0
Policy loans	0	0
Other invested assets	0	0
Company-owned life insurance	0	0
Trade and notes receivables, net of allowance	0	0
Total	90	72
Liabilities
Investment contracts, included in contractholder funds	0	0
Debt	2,711	3,218
Total	2,711	3,218
Level 3
Assets
FHLB common stock	0	0
Commercial mortgage loans	2,119	2,265
Residential mortgage loans	1,971	1,549
Policy loans	44	39
Other invested assets	69	57
Company-owned life insurance	352	333
Trade and notes receivables, net of allowance	616	557
Total	5,171	4,800
Liabilities
Investment contracts, included in contractholder funds	31,550	27,448
Debt	0	0
Total	$ 31,550	$ 27,448

Fair Value of Financial Instr_8

Fair Value of Financial Instruments - NAV (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments in unconsolidated affiliates	$ 2,835	$ 2,486
Investments measured under equity method or NAV expedient	2,879	2,534
Fair Value Measured at Net Asset Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Equity securities (NAV)	44	48
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments in unconsolidated affiliates	167	136
Equity Method Investment, Nonconsolidated Investee or Group of Investees \| Fair Value Measured at Net Asset Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments in unconsolidated affiliates	$ 2,668	$ 2,350

Investments - Consolidated Inve

Investments - Consolidated Investments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Available-for-sale securities
Amortized Cost	$ 33,836	$ 30,705
Allowance for Expected Credit Losses	(11)	(8)
Gross Unrealized Gains	179	1,518
Gross Unrealized Losses	(3,572)	(225)
Fair Value/Carrying Value	30,432	31,990
Asset-backed securities
Available-for-sale securities
Amortized Cost	9,965	8,516
Allowance for Expected Credit Losses	(2)	(3)
Gross Unrealized Gains	46	220
Gross Unrealized Losses	(561)	(38)
Fair Value/Carrying Value	9,448	8,695
Commercial mortgage-backed securities
Available-for-sale securities
Amortized Cost	3,123	2,684
Allowance for Expected Credit Losses	0	(2)
Gross Unrealized Gains	90	308
Gross Unrealized Losses	(160)	(11)
Fair Value/Carrying Value	3,053	2,979
Corporates
Available-for-sale securities
Amortized Cost	16,639	15,822
Allowance for Expected Credit Losses	(5)	0
Gross Unrealized Gains	31	830
Gross Unrealized Losses	(2,481)	(158)
Fair Value/Carrying Value	14,184	16,494
Hybrids
Available-for-sale securities
Amortized Cost	827	838
Allowance for Expected Credit Losses	0	0
Gross Unrealized Gains	6	74
Gross Unrealized Losses	(64)	0
Fair Value/Carrying Value	769	912
Municipals
Available-for-sale securities
Amortized Cost	1,489	1,445
Allowance for Expected Credit Losses	0	0
Gross Unrealized Gains	3	67
Gross Unrealized Losses	(181)	(11)
Fair Value/Carrying Value	1,311	1,501
Residential mortgage-backed securities
Available-for-sale securities
Amortized Cost	977	731
Allowance for Expected Credit Losses	(4)	(3)
Gross Unrealized Gains	2	7
Gross Unrealized Losses	(73)	(4)
Fair Value/Carrying Value	902	731
U.S. Government
Available-for-sale securities
Amortized Cost	544	393
Allowance for Expected Credit Losses	0	0
Gross Unrealized Gains	1	3
Gross Unrealized Losses	(15)	(2)
Fair Value/Carrying Value	530	394
Foreign Governments
Available-for-sale securities
Amortized Cost	272	276
Allowance for Expected Credit Losses	0	0
Gross Unrealized Gains	0	9
Gross Unrealized Losses	(37)	(1)
Fair Value/Carrying Value	$ 235	$ 284

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Investments - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Accrued interest receivable	$ 276	$ 276	$ 253
FHLB collateral pledged	3,030	3,030	2,469
Fixed maturity securities, available-for-sale securities, allowance for credit losses	11	$ 11	8
Commercial mortgage loans, percentage of investments		7%
Non-accrual loans	$ 69	$ 69	$ 72
Affiliated Entity \| Equity securities
Debt Securities, Available-for-sale [Line Items]
Investment owned, (in shares)	0	0	5,775,598
Investment owned, at fair value			$ 203
Shares issued in exchange (in shares)	4,775,598	5,775,598
Aggregate consideration received	$ 85	$ 109
Residential mortgage loans
Debt Securities, Available-for-sale [Line Items]
Non-accrual loans	69	69	72
Over 90 days past due \| Residential mortgage loans
Debt Securities, Available-for-sale [Line Items]
Non-accrual loans			72
Loans in process of foreclosure	38	$ 38	39
United States
Debt Securities, Available-for-sale [Line Items]
Residential mortgage loans, location percentage		100%
Available-for-sale Securities
Debt Securities, Available-for-sale [Line Items]
Assets held by insurance regulators	$ 16,831	$ 16,831	$ 22,343
Residential mortgage loans
Debt Securities, Available-for-sale [Line Items]
Percentage of total investments	6%	6%

Investments - Amortized Cost an

Investments - Amortized Cost and Fair Value of Fixed Maturity Available-for-Sale Securities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Amortized Cost
Amortized Cost	$ 33,836	$ 30,705
Fair Value
Total fixed maturity available-for-sale securities, Fair Value	30,432	31,990
Other securities, which provide for periodic payments:
Amortized Cost
Other securities which provide for periodic payments, Amortized Cost	14,091	11,962
Fair Value
Other securities which provide for periodic payments, Fair Value	13,429	12,442
Corporates, Non-structured Hybrids, Municipal and Government securities:
Amortized Cost
Due in one year or less	524	426
Due after one year through five years	3,386	2,998
Due after five years through ten years	2,103	2,389
Due after ten years	13,732	12,930
Subtotal, Amortized Cost	19,745	18,743
Fair Value
Due in one year or less	523	431
Due after one year through five years	3,218	3,051
Due after five years through ten years	1,918	2,458
Due after ten years	11,344	13,608
Subtotal, Fair Value	17,003	19,548
Asset-backed securities
Amortized Cost
Other securities which provide for periodic payments, Amortized Cost	9,965	8,516
Amortized Cost	9,965	8,516
Fair Value
Other securities which provide for periodic payments, Fair Value	9,448	8,695
Total fixed maturity available-for-sale securities, Fair Value	9,448	8,695
Commercial mortgage-backed securities
Amortized Cost
Other securities which provide for periodic payments, Amortized Cost	3,123	2,684
Amortized Cost	3,123	2,684
Fair Value
Other securities which provide for periodic payments, Fair Value	3,053	2,979
Total fixed maturity available-for-sale securities, Fair Value	3,053	2,979
Structured hybrids
Amortized Cost
Other securities which provide for periodic payments, Amortized Cost	26	31
Fair Value
Other securities which provide for periodic payments, Fair Value	26	37
Residential mortgage-backed securities
Amortized Cost
Other securities which provide for periodic payments, Amortized Cost	977	731
Fair Value
Other securities which provide for periodic payments, Fair Value	$ 902	$ 731

Investments - Fair Value and Gr

Investments - Fair Value and Gross Unrealized Losses of Available-for-Sale Securities (Details) $ in Millions	Jun. 30, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	$ 24,385	$ 11,443
Gross Unrealized Losses Less than 12 months	(2,935)	(185)
Fair Value, 12 Months or longer	2,309	646
Gross Unrealized Losses, 12 months or longer	(637)	(40)
Total Fair Value	26,694	12,089
Total Gross Unrealized Losses	$ (3,572)	$ (225)
Total number of available-for-sale securities in an unrealized loss position less than twelve months \| security	3,441	2,056
Total number of available-for-sale securities in an unrealized loss position twelve months or longer \| security	291	68
Total number of available-for-sale securities in an unrealized loss position \| security	3,732	2,124
Asset-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	$ 7,944	$ 4,410
Gross Unrealized Losses Less than 12 months	(490)	(31)
Fair Value, 12 Months or longer	645	146
Gross Unrealized Losses, 12 months or longer	(71)	(7)
Total Fair Value	8,589	4,556
Total Gross Unrealized Losses	(561)	(38)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	1,788	603
Gross Unrealized Losses Less than 12 months	(153)	(11)
Fair Value, 12 Months or longer	48	1
Gross Unrealized Losses, 12 months or longer	(8)	0
Total Fair Value	1,836	604
Total Gross Unrealized Losses	(161)	(11)
Corporates
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	11,593	5,391
Gross Unrealized Losses Less than 12 months	(1,960)	(132)
Fair Value, 12 Months or longer	1,414	394
Gross Unrealized Losses, 12 months or longer	(521)	(26)
Total Fair Value	13,007	5,785
Total Gross Unrealized Losses	(2,481)	(158)
Hybrids
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	677	3
Gross Unrealized Losses Less than 12 months	(64)	0
Fair Value, 12 Months or longer	2	0
Gross Unrealized Losses, 12 months or longer	0	0
Total Fair Value	679	3
Total Gross Unrealized Losses	(64)	0
Municipals
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	1,120	410
Gross Unrealized Losses Less than 12 months	(158)	(5)
Fair Value, 12 Months or longer	119	85
Gross Unrealized Losses, 12 months or longer	(23)	(6)
Total Fair Value	1,239	495
Total Gross Unrealized Losses	(181)	(11)
Residential mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	798	325
Gross Unrealized Losses Less than 12 months	(67)	(3)
Fair Value, 12 Months or longer	27	11
Gross Unrealized Losses, 12 months or longer	(6)	(1)
Total Fair Value	825	336
Total Gross Unrealized Losses	(73)	(4)
U.S. Government
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	334	219
Gross Unrealized Losses Less than 12 months	(12)	(2)
Fair Value, 12 Months or longer	34	4
Gross Unrealized Losses, 12 months or longer	(2)	0
Total Fair Value	368	223
Total Gross Unrealized Losses	(14)	(2)
Foreign Governments
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	131	82
Gross Unrealized Losses Less than 12 months	(31)	(1)
Fair Value, 12 Months or longer	20	5
Gross Unrealized Losses, 12 months or longer	(6)	0
Total Fair Value	151	87
Total Gross Unrealized Losses	$ (37)	$ (1)

Investments - Schedule of Comme

Investments - Schedule of Commercial Mortgage Loan Investment (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Allowance for expected credit loss	$ (35)	$ (32)	$ (31)	$ (34)	$ (36)	$ (39)
Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	2,321		2,174
Allowance for expected credit loss	(6)	$ (6)	(6)	$ (6)	$ (5)	$ (2)
Total mortgage loans	$ 2,315		$ 2,168
% of Total	100%		100%
East North Central \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 130		$ 137
% of Total	6%		6%
East South Central \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 76		$ 79
% of Total	3%		4%
Middle Atlantic \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 292		$ 293
% of Total	13%		13%
Mountain \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 355		$ 236
% of Total	15%		11%
New England \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 151		$ 149
% of Total	7%		7%
Pacific \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 699		$ 649
% of Total	30%		30%
South Atlantic \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 496		$ 459
% of Total	21%		21%
West North Central \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 4		$ 12
% of Total	0%		1%
West South Central \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 118		$ 160
% of Total	5%		7%
Hotel \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 18		$ 19
% of Total	1%		1%
Industrial - General \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 486		$ 497
% of Total	20%		23%
Mixed Use \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 12		$ 13
% of Total	1%		1%
Multifamily \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 1,013		$ 894
% of Total	43%		41%
Office \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 332		$ 343
% of Total	14%		16%
Retail \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 107		$ 121
% of Total	5%		6%
Student Housing \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 83		$ 83
% of Total	4%		4%
Other \| Commercial mortgage loans
Schedule of Investments [Line Items]
Gross Carrying Value	$ 270		$ 204
% of Total	12%		8%

Investments - Recorded Investme

Investments - Recorded Investment in CMLs by LTV and DSC Ratio Categories (Details) - Commercial mortgage loans - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 2,321	$ 2,174
% of Total	100%	100%
Fair Value
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 2,119	$ 2,265
% of Total	100%	100%
Greater than 1.25
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 2,299	$ 2,132
1.00 - 1.25
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	13	33
Greater than 1.00
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9	9
LTV Less Than 50 %
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 411	$ 668
% of Total	18%	31%
LTV Less Than 50 % \| Fair Value
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 401	$ 745
% of Total	19%	33%
LTV Less Than 50 % \| Greater than 1.25
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 398	$ 626
LTV Less Than 50 % \| 1.00 - 1.25
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4	33
LTV Less Than 50 % \| Greater than 1.00
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9	9
LTV 50 to 60%
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 771	$ 470
% of Total	33%	22%
LTV 50 to 60% \| Fair Value
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 712	$ 481
% of Total	34%	21%
LTV 50 to 60% \| Greater than 1.25
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 771	$ 470
LTV 50 to 60% \| 1.00 - 1.25
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	0	0
LTV 50 to 60% \| Greater than 1.00
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	0	0
LTV 60% to 75%
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,130	$ 1,036
% of Total	48%	47%
LTV 60% to 75% \| Fair Value
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,000	$ 1,039
% of Total	47%	46%
LTV 60% to 75% \| Greater than 1.25
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,130	$ 1,036
LTV 60% to 75% \| 1.00 - 1.25
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	0	0
LTV 60% to 75% \| Greater than 1.00
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	0	$ 0
LTV 75% to 85%
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 9
% of Total	1%
LTV 75% to 85% \| Fair Value
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 6
% of Total	0%
LTV 75% to 85% \| Greater than 1.25
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 0
LTV 75% to 85% \| 1.00 - 1.25
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9
LTV 75% to 85% \| Greater than 1.00
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 0

Investments - Schedule of Distr

Investments - Schedule of Distribution of Residential Mortgage Loan Investment by State Concentrations (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Residential mortgage loans
Amortized Cost	$ 2,151	$ 1,606
% of Total	100%	100%
Total mortgage loans
Amortized Cost	$ 2,148	$ 1,575
Florida \| Residential mortgage loans
Amortized Cost	$ 302	$ 231
% of Total	14%	15%
Texas \| Residential mortgage loans
Amortized Cost	$ 227	$ 167
% of Total	11%	10%
New Jersey \| Residential mortgage loans
Amortized Cost	$ 171	$ 150
% of Total	8%	10%
Pennsylvania \| Residential mortgage loans
Amortized Cost	$ 146
% of Total	7%
California \| Residential mortgage loans
Amortized Cost	$ 145
% of Total	7%
New York \| Residential mortgage loans
Amortized Cost	$ 137
% of Total	6%
Georgia \| Residential mortgage loans
Amortized Cost	$ 117
% of Total	5%
All Other States \| Residential mortgage loans
Amortized Cost	$ 903	$ 1,027
% of Total	42%	65%

Investments - Credit Quality of

Investments - Credit Quality of RMLs (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Allowance for expected loan loss	$ (35)	$ (32)	$ (31)	$ (34)	$ (36)	$ (39)
Residential mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Amortized Cost	$ 2,151		$ 1,606
% of Total	100%		100%
Allowance for expected loan loss	$ (29)	$ (26)	$ (25)	$ (28)	$ (31)	$ (37)
Allowance for expected loan loss, percent	0%		0%
Total residential mortgage loans	$ 2,122		$ 1,581
Allowance % of Total	100%		100%
Residential mortgage loans \| Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Amortized Cost	$ 2,083		$ 1,533
% of Total	97%		95%
Residential mortgage loans \| Non-performing
Financing Receivable, Credit Quality Indicator [Line Items]
Amortized Cost	$ 68		$ 73
% of Total	3%		5%

Investments - Loans Segregated

Investments - Loans Segregated by Risk Rating (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Amortized cost of loans on non-accrual
Total non-accrual loans	$ 69	$ 72
Residential mortgages
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	620	801
2021	921	320
2020	265	375
2019	271	53
2018	31	36
Prior	43	21
Total	2,151	1,606
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	620	801
2020	921	320
2019	265	375
2018	271	53
2017	31	36
Prior	43	21
Total	2,151	1,606
Amortized cost of loans on non-accrual
Total non-accrual loans	69	72
Residential mortgages \| Current (less than 30 days past due)
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	605	795
2021	896	293
2020	244	323
2019	211	50
2018	29	36
Prior	43	21
Total	2,028	1,518
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	605	795
2020	896	293
2019	244	323
2018	211	50
2017	29	36
Prior	43	21
Total	2,028	1,518
Residential mortgages \| 30-89 days past due
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	15	5
2021	19	4
2020	5	6
2019	14	1
2018	1	0
Prior	0	0
Total	54	16
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	15	5
2020	19	4
2019	5	6
2018	14	1
2017	1	0
Prior	0	0
Total	54	16
Residential mortgages \| Over 90 days past due
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	0	1
2021	6	23
2020	16	46
2019	46	2
2018	1	0
Prior	0	0
Total	69	72
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	0	1
2020	6	23
2019	16	46
2018	46	2
2017	1	0
Prior	0	0
Total	69	72
Amortized cost of loans on non-accrual
Total non-accrual loans		72
Commercial mortgages
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	229	1,301
2021	1,301	543
2020	509	0
2019	0	6
2018	0	0
Prior	282	324
Total	2,321	2,174
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	229	1,301
2020	1,301	543
2019	509	0
2018	0	6
2017	0	0
Prior	282	324
Total	2,321	2,174
Amortized cost of loans on non-accrual
Total non-accrual loans	0	0
Commercial mortgages \| Greater than 1.25x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	229	1,301
2021	1,301	543
2020	509	0
2019	0	4
2018	0	0
Prior	260	284
Total	2,299	2,132
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	229	1,301
2020	1,301	543
2019	509	0
2018	0	4
2017	0	0
Prior	260	284
Total	2,299	2,132
Commercial mortgages \| 1.00x - 1.25x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	0	0
2021	0	0
2020	0	0
2019	0	2
2018	0	0
Prior	13	31
Total	13	33
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	0	0
2020	0	0
2019	0	0
2018	0	2
2017	0	0
Prior	13	31
Total	13	33
Commercial mortgages \| Less than 1.00x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	9	9
Total	9	9
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	0	0
2020	0	0
2019	0	0
2018	0	0
2017	0	0
Prior	9	9
Total	9	9
Commercial mortgages \| LTV Less Than 50 %
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	14	120
2021	121	229
2020	153	0
2019	0	6
2018	0	0
Prior	123	313
Total	411	668
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	14	120
2020	121	229
2019	153	0
2018	0	6
2017	0	0
Prior	123	313
Total	411	668
Commercial mortgages \| LTV Less Than 50 % \| Greater than 1.25x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
Total	398	626
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
Total	398	626
Commercial mortgages \| LTV Less Than 50 % \| 1.00x - 1.25x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
Total	4	33
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
Total	4	33
Commercial mortgages \| LTV 50 to 60%
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	105	267
2021	292	192
2020	234	0
2019	0	0
2018	0	0
Prior	140	11
Total	771	470
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	105	267
2020	292	192
2019	234	0
2018	0	0
2017	0	0
Prior	140	11
Total	771	470
Commercial mortgages \| LTV 50 to 60% \| Greater than 1.25x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
Total	771	470
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
Total	771	470
Commercial mortgages \| LTV 50 to 60% \| 1.00x - 1.25x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
Total	0	0
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
Total	0	0
Commercial mortgages \| LTV 60% to 75%
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	110	914
2021	888	122
2020	122	0
2019	0	0
2018	0	0
Prior	10	0
Total	1,130	1,036
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	110	914
2020	888	122
2019	122	0
2018	0	0
2017	0	0
Prior	10	0
Total	1,130	1,036
Commercial mortgages \| LTV 60% to 75% \| Greater than 1.25x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
Total	1,130	1,036
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
Total	1,130	1,036
Commercial mortgages \| LTV 60% to 75% \| 1.00x - 1.25x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
Total	0	0
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
Total	0	0
Commercial mortgages \| LTV 75% to 85%
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	0
2021	0
2020	0
2019	0
2018	0
Prior	9
Total	9
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	0
2020	0
2019	0
2018	0
2017	0
Prior	9
Total	9
Commercial mortgages \| LTV 75% to 85% \| Greater than 1.25x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
Total	0
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
Total	0
Commercial mortgages \| LTV 75% to 85% \| 1.00x - 1.25x
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
Total	9
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
Total	9
Commercial mortgages \| Current (less than 30 days past due)
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	229	1,301
2021	1,301	543
2020	509	0
2019	0	6
2018	0	0
Prior	273	324
Total	2,312	2,174
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	229	1,301
2020	1,301	543
2019	509	0
2018	0	6
2017	0	0
Prior	273	324
Total	2,312	2,174
Commercial mortgages \| 30-89 days past due
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	0	0
Total	0	0
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	0	0
2020	0	0
2019	0	0
2018	0	0
2017	0	0
Prior	0	0
Total	0	0
Commercial mortgages \| Over 90 days past due
Financing Receivable Credit Quality Indicator Current Year Abstract [Abstract]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	9	0
Total	9	0
Financing Receivable Credit Quality Indicator Prior Year [Abstract]
2021	0	0
2020	0	0
2019	0	0
2018	0	0
2017	0	0
Prior	9	0
Total	$ 9	$ 0

Investments - Changes in Allowa

Investments - Changes in Allowance for Expected Credit Losses on Mortgage Loans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 32	$ 36	$ 31	$ 39
Provision for loan losses	3	(2)	4	(5)
Ending Balance	35	34	35	34
Residential Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	26	31	25	37
Provision for loan losses	3	(3)	4	(9)
Ending Balance	29	28	29	28
Commercial Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	6	5	6	2
Provision for loan losses	0	1	0	4
Ending Balance	$ 6	$ 6	$ 6	$ 6

Investments - Interest and Inve

Investments - Interest and Investment Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of Investments [Line Items]
Gross investment income	$ 511	$ 556	$ 1,036	$ 997
Investment expense	(48)	(42)	(95)	(81)
Interest and investment income	463	514	941	916
Fixed maturity securities, available-for-sale
Schedule of Investments [Line Items]
Gross investment income	350	325	682	631
Equity securities
Schedule of Investments [Line Items]
Gross investment income	7	5	15	10
Preferred securities
Schedule of Investments [Line Items]
Gross investment income	20	18	35	32
Mortgage loans
Schedule of Investments [Line Items]
Gross investment income	49	33	88	56
Invested cash and short-term investments
Schedule of Investments [Line Items]
Gross investment income	13	1	18	1
Limited partnerships
Schedule of Investments [Line Items]
Gross investment income	58	164	171	244
Tax deferred property exchange income
Schedule of Investments [Line Items]
Gross investment income	10	4	14	9
Other investments
Schedule of Investments [Line Items]
Gross investment income	$ 4	$ 6	$ 13	$ 14

Investments - Recognized Gains

Investments - Recognized Gains (Losses), net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of Investments [Line Items]
Net realized (losses) gains on fixed maturity available-for-sale securities	$ (61)	$ 13	$ (98)	$ 53
Realized (losses) gains on other invested assets	(9)	12	(10)	8
Change in allowance for expected credit losses	(9)	(4)	(12)	6
Realized (losses) gains on certain derivative instruments	(35)	120	15	180
Unrealized (losses) gains on certain derivative instruments	(359)	142	(717)	107
Change in fair value of reinsurance related embedded derivatives	141	(27)	263	0
Change in fair value of other derivatives and embedded derivatives	(5)	3	(8)	3
Realized (losses) gains on derivatives and embedded derivatives	(258)	238	(447)	290
Recognized gains and losses, net	(676)	232	(1,145)	275
Equity securities
Schedule of Investments [Line Items]
Net realized/unrealized (losses) gains on securities	(221)	(42)	(370)	(88)
Valuation (losses) gains	(222)	(46)	(388)	(92)
Preferred securities
Schedule of Investments [Line Items]
Net realized/unrealized (losses) gains on securities	(118)	15	(208)	6
Valuation (losses) gains	$ (118)	$ 7	$ (207)	$ 4

Investments - Proceeds From the

Investments - Proceeds From the Sale of Fixed-Maturity Available-For-Sale Securities (Details) - Total fixed maturities - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Securities, Available-for-sale [Line Items]
Proceeds	$ 802	$ 444	$ 1,835	$ 869
Gross gains	1	36	5	68
Gross losses	$ (61)	$ (8)	$ (99)	$ (16)

Investments - VIE (Details)

Investments - VIE (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Carrying Value	$ 15,694	$ 14,732
Maximum Loss Exposure	18,598	16,298
Limited Partnerships
Schedule of Investments [Line Items]
Carrying Value	2,668	2,350
Maximum Loss Exposure	4,343	3,496
Fixed Maturity Securities
Schedule of Investments [Line Items]
Carrying Value	13,026	12,382
Maximum Loss Exposure	$ 14,255	$ 12,802

Investments - Schedule of Inves

Investments - Schedule of Investment Concentrations (Details) - Stockholders' Equity - Investment Risk Concentration $ in Millions	Jun. 30, 2022 USD ($)
Blackstone Wave Asset Holdco
Schedule of Investments [Line Items]
Investment owned, at fair value	$ 960
Jade22
Schedule of Investments [Line Items]
Investment owned, at fair value	$ 855

Derivative Financial Instrume_3

Derivative Financial Instruments - Carrying Amounts of Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Total asset derivatives	$ 360	$ 849
Total liability derivatives	2,941	3,956
Call options \| Derivative investments
Derivative [Line Items]
Total asset derivatives	145	816
Other embedded derivatives \| Other long-term investments
Derivative [Line Items]
Total asset derivatives	24	33
Other embedded derivatives \| Prepaid expenses and other assets
Derivative [Line Items]
Total asset derivatives	190	0
FIA embedded derivatives, included in contractholder funds \| Contractholder funds
Derivative [Line Items]
Total liability derivatives	2,941	3,883
Reinsurance related embedded derivatives \| Accounts payable and accrued liabilities:
Derivative [Line Items]
Total liability derivatives	0	73
Foreign currency forward \| Derivative investments
Derivative [Line Items]
Total asset derivatives	$ 1	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Change in Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative [Line Items]
Change in fair value of derivatives	$ 141	$ (27)	$ 263	$ 0
Net investment gains (losses)
Derivative [Line Items]
Change in fair value of derivatives	(258)	238	(447)	290
Call options \| Net investment gains (losses)
Derivative [Line Items]
Change in fair value of derivatives	(395)	257	(709)	279
Futures contracts \| Net investment gains (losses)
Derivative [Line Items]
Change in fair value of derivatives	(8)	5	(5)	4
Foreign currency forwards \| Net investment gains (losses)
Derivative [Line Items]
Change in fair value of derivatives	9	0	12	4
Other embedded derivatives \| Net investment gains (losses)
Derivative [Line Items]
Change in fair value of derivatives	(5)	3	(8)	3
Reinsurance related embedded derivatives \| Net investment gains (losses)
Derivative [Line Items]
Change in fair value of derivatives	141	(27)	263	0
FIA/ IUL embedded derivatives
Derivative [Line Items]
Change in fair value of derivatives	$ (454)	$ 466	$ (942)	$ 355

Derivative Financial Instrume_5

Derivative Financial Instruments - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract
All Counterparties Except Merrill Lynch
Derivative [Line Items]
Counterparties, collateral required threshold	0%
Embedded derivatives
Derivative [Line Items]
Term of contract, term one	1 year
Term of contract, term two	2 years
Term of contract, term three	3 years
Term of contract, term four	5 years
Call options \| Not Designated as Hedging Instrument
Derivative [Line Items]
Collateral posted	$ 124	$ 790
Maximum amount of loss due to credit risk	30	42
Call options \| Derivatives for Trading and Investment \| Not Designated as Hedging Instrument
Derivative [Line Items]
Collateral posted	124	790
Maximum amount of loss due to credit risk	30	42
Call options \| Cash and Cash Equivalents \| Not Designated as Hedging Instrument
Derivative [Line Items]
Collateral posted	$ 98	$ 576
Futures contracts
Derivative [Line Items]
Number of instruments held \| contract	349,000,000	329,000,000
Collateral held	$ 3	$ 3

Derivative Financial Instrume_6

Derivative Financial Instruments - FGL's Exposure to Credit Loss on Call Options Held (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Fair Value	$ 360	$ 849
Not Designated as Hedging Instrument \| Call options
Derivatives, Fair Value [Line Items]
Notional Amount	20,807	19,404
Fair Value	145	816
Collateral	124	790
Maximum amount of loss due to credit risk	30	42
Not Designated as Hedging Instrument \| Call options \| Merrill Lynch
Derivatives, Fair Value [Line Items]
Notional Amount	3,735	3,307
Fair Value	30	128
Collateral	0	86
Maximum amount of loss due to credit risk	30	42
Not Designated as Hedging Instrument \| Call options \| Morgan Stanley
Derivatives, Fair Value [Line Items]
Notional Amount	1,581	2,184
Fair Value	6	86
Collateral	7	92
Maximum amount of loss due to credit risk	0	0
Not Designated as Hedging Instrument \| Call options \| Barclay's Bank
Derivatives, Fair Value [Line Items]
Notional Amount	5,421	5,197
Fair Value	46	231
Collateral	48	233
Maximum amount of loss due to credit risk	0	0
Not Designated as Hedging Instrument \| Call options \| Canadian Imperial Bank of Commerce
Derivatives, Fair Value [Line Items]
Notional Amount	3,832	2,936
Fair Value	22	147
Collateral	26	151
Maximum amount of loss due to credit risk	0	0
Not Designated as Hedging Instrument \| Call options \| Wells Fargo
Derivatives, Fair Value [Line Items]
Notional Amount	1,945	2,445
Fair Value	12	89
Collateral	13	90
Maximum amount of loss due to credit risk	0	0
Not Designated as Hedging Instrument \| Call options \| Goldman Sachs
Derivatives, Fair Value [Line Items]
Notional Amount	660	307
Fair Value	4	10
Collateral	4	10
Maximum amount of loss due to credit risk	0	0
Not Designated as Hedging Instrument \| Call options \| Credit Suisse
Derivatives, Fair Value [Line Items]
Notional Amount	1,157	1,485
Fair Value	4	74
Collateral	4	75
Maximum amount of loss due to credit risk	0	0
Not Designated as Hedging Instrument \| Call options \| Truist
Derivatives, Fair Value [Line Items]
Notional Amount	2,476	1,543
Fair Value	21	51
Collateral	22	53
Maximum amount of loss due to credit risk	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	Aug. 17, 2020 shares	Aug. 04, 2020 director lawsuit	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Other Commitments [Line Items]
Estimated litigation liability \| $			$ 16	$ 12
Number of Board of Directors on the litigation committee \| director		3
Matter of FGL Holdings
Other Commitments [Line Items]
Number of lawsuits filed \| lawsuit		2
Number of shares in which statutory appraisal rights have been claimed (in shares) \| shares	12,000,000

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Investment Commitments (Details) - Commitment to Invest $ in Millions	Jun. 30, 2022 USD ($)
Other Commitments [Line Items]
Unfunded investment commitment	$ 2,512
Limited partnerships
Other Commitments [Line Items]
Unfunded investment commitment	1,675
Whole loans
Other Commitments [Line Items]
Unfunded investment commitment	377
Fixed maturity securities, ABS
Other Commitments [Line Items]
Unfunded investment commitment	197
Other fixed maturity securities, AFS
Other Commitments [Line Items]
Unfunded investment commitment	94
Commercial mortgage loans
Other Commitments [Line Items]
Unfunded investment commitment	30
Other assets
Other Commitments [Line Items]
Unfunded investment commitment	137
Residential mortgage loans
Other Commitments [Line Items]
Unfunded investment commitment	1
Committed amounts included in liabilities
Other Commitments [Line Items]
Unfunded investment commitment	$ 1

Dividends (Details)

Dividends (Details) - $ / shares		3 Months Ended		6 Months Ended
Dividends (Details) - $ / shares	Aug. 02, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Subsequent Event [Line Items]
Cash dividend per common share (in dollars per share)		$ 0.44	$ 0.36	$ 0.88	$ 0.72
Subsequent Event
Subsequent Event [Line Items]
Cash dividend per common share (in dollars per share)	$ 0.44

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Title premiums	$ 2,062	$ 2,160	$ 3,928	$ 3,964
Other revenues	782	948	2,072	1,799
Revenues from external customers	2,844	3,108	6,000	5,763
Interest and investment income, including recognized gains and losses, net	(213)	746	(204)	1,191
Total revenues	2,631	3,854	5,796	6,954
Depreciation and amortization	161	105	343	288
Interest expense	31	28	61	56
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of unconsolidated affiliates	538	713	1,090	1,470
Income tax expense (benefit)	164	176	319	342
Earnings before equity in earnings of unconsolidated affiliates	374	537	771	1,128
Equity in earnings (loss) of unconsolidated affiliates	14	14	16	27
Net earnings (loss) from continuing operations	388	551	787	1,155
Assets	61,230	54,520	61,230	54,520	$ 60,690
Goodwill	4,538	4,506	4,538	4,506	$ 4,539
Corporate and Other
Segment Reporting Information [Line Items]
Title premiums	0	0	0	0
Other revenues	8	47	39	89
Revenues from external customers	8	47	39	89
Interest and investment income, including recognized gains and losses, net	2	9	5	9
Total revenues	10	56	44	98
Depreciation and amortization	6	6	12	12
Interest expense	22	21	44	41
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of unconsolidated affiliates	(19)	(28)	(57)	(66)
Income tax expense (benefit)	(7)	(5)	(14)	(14)
Earnings before equity in earnings of unconsolidated affiliates	(12)	(23)	(43)	(52)
Equity in earnings (loss) of unconsolidated affiliates	0	0	0	5
Net earnings (loss) from continuing operations	(12)	(23)	(43)	(47)
Assets	2,313	1,749	2,313	1,749
Goodwill	266	266	266	266
Operating Segments \| Title
Segment Reporting Information [Line Items]
Title premiums	2,062	2,160	3,928	3,964
Other revenues	706	839	1,371	1,584
Revenues from external customers	2,768	2,999	5,299	5,548
Interest and investment income, including recognized gains and losses, net	(214)	(3)	(362)	(33)
Total revenues	2,554	2,996	4,937	5,515
Depreciation and amortization	34	34	67	67
Interest expense	0	0	0	0
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of unconsolidated affiliates	267	644	516	1,083
Income tax expense (benefit)	111	160	168	263
Earnings before equity in earnings of unconsolidated affiliates	156	484	348	820
Equity in earnings (loss) of unconsolidated affiliates	14	14	16	22
Net earnings (loss) from continuing operations	170	498	364	842
Assets	9,309	9,565	9,309	9,565
Goodwill	2,516	2,484	2,516	2,484
Operating Segments \| F&G
Segment Reporting Information [Line Items]
Title premiums	0	0	0	0
Other revenues	68	62	662	126
Revenues from external customers	68	62	662	126
Interest and investment income, including recognized gains and losses, net	(1)	740	153	1,215
Total revenues	67	802	815	1,341
Depreciation and amortization	121	65	264	209
Interest expense	9	7	17	15
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of unconsolidated affiliates	290	97	631	453
Income tax expense (benefit)	60	21	165	93
Earnings before equity in earnings of unconsolidated affiliates	230	76	466	360
Equity in earnings (loss) of unconsolidated affiliates	0	0	0	0
Net earnings (loss) from continuing operations	230	76	466	360
Assets	49,608	43,206	49,608	43,206
Goodwill	$ 1,756	$ 1,756	$ 1,756	$ 1,756

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash paid for:
Interest	$ 63	$ 56
Income taxes	202	307
Deferred sales inducements	38	44
Non-cash investing and financing activities:
Change in proceeds of sales of investments available for sale receivable in period	151	(1)
Change in purchases of investments available for sale payable in period	212	60
Change in contractholder deposits for FABN issuance	300	0
Lease liabilities recognized in exchange for lease right-of-use assets	42	18
Remeasurement of lease liabilities	$ 41	$ 37

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 604	$ 750	$ 1,190	$ 1,411
Interest and investment income	463	514	941	916
Recognized gains and losses, net	(676)	232	(1,145)	275
Total revenues	2,631	3,854	5,796	6,954
Title
Disaggregation of Revenue [Line Items]
Loan subservicing revenue	67	88	143	175
Title \| Direct title insurance premiums
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	859	904	1,626	1,650
Title \| Agency title insurance premiums
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,203	1,256	2,302	2,314
Title \| Home warranty
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	43	48	77	87
Title \| Insurance contracts
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,173	2,270	4,667	4,177
Title \| Escrow fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	294	374	559	698
Title \| Other title-related fees and income
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	210	232	406	437
Title \| ServiceLink, excluding title premiums, escrow fees, and subservicing fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	92	97	186	187
F&G \| Life insurance premiums, insurance and investment product fees, and other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	68	62	662	126
Corporate and other \| Real estate technology
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	41	24	79	56
Corporate and other \| Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ (33)	$ 23	$ (40)	$ 33

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	6 Months Ended
Revenue Recognition - Narrative (Details)	Jun. 30, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Home warranty contract, period	1 year

Revenue Recognition - Informati

Revenue Recognition - Information about Receivables and Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Trade receivables	$ 497	$ 497	$ 524
Deferred revenue (contract liabilities)	257	$ 257	$ 144
Policy period		1 year
Revenue recognized	$ 44	$ 69

Value of Business Acquired, D_3

Value of Business Acquired, Deferred Acquisition Costs and Deferred Sales Inducements - Summary of Changes in Carrying Amounts of Intangible Assets Including DAC, VOBA and DSI (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Total
Balance at beginning of period	$ 2,034	$ 1,724
Deferrals	372	322
Amortization	(282)	(232)
Interest	26	20
Unlocking	6	17
Adjustment for net unrealized investment (gains) losses	782	(47)
Purchase price allocation adjustments		61
Balance at end of period	2,938	1,865
VOBA
Total
Balance at beginning of period	1,185	1,466
Deferrals	0	0
Amortization	(177)	(204)
Interest	13	15
Unlocking	2	16
Adjustment for net unrealized investment (gains) losses	577	(15)
Purchase price allocation adjustments		61
Balance at end of period	1,600	1,339
DAC
Total
Balance at beginning of period	761	222
Deferrals	334	278
Amortization	(80)	(16)
Interest	12	5
Unlocking	(1)	0
Adjustment for net unrealized investment (gains) losses	156	(27)
Purchase price allocation adjustments		0
Balance at end of period	1,182	462
DSI
Total
Balance at beginning of period	88	36
Deferrals	38	44
Amortization	(25)	(12)
Interest	1	0
Unlocking	5	1
Adjustment for net unrealized investment (gains) losses	49	(5)
Purchase price allocation adjustments		0
Balance at end of period	$ 156	$ 64

Value of Business Acquired, D_4

Value of Business Acquired, Deferred Acquisition Costs and Deferred Sales Inducements - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
VOBA
Finite-Lived Intangible Assets [Line Items]
Adjustment for net unrealized investment gains and losses	$ (345)	$ 298
VOBA \| Minimum
Finite-Lived Intangible Assets [Line Items]
Interest accrual rate utilized to calculate accretion of interest	0%
VOBA \| Maximum
Finite-Lived Intangible Assets [Line Items]
Interest accrual rate utilized to calculate accretion of interest	4.71%
DAC
Finite-Lived Intangible Assets [Line Items]
Adjustment for net unrealized investment gains and losses	$ (117)	(53)
Deferred sales inducement, unrealized investment gains (losses)	$ (42)	$ 10

Value of Business Acquired, D_5

Value of Business Acquired, Deferred Acquisition Costs and Deferred Sales Inducements - Estimated Amortization Expense for VOBA in Future Fiscal Periods (Details) $ in Millions	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ (17)
2023	86
2024	177
2025	161
2026	145
Thereafter	$ 703

F&G Reinsurance - Effect of Rei

F&G Reinsurance - Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes (Details) - Traditional Life Insurance Premiums - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Premiums and other considerations:
Direct	$ 39	$ 44	$ 606	$ 87
Ceded	(35)	(38)	(67)	(71)
Net	4	6	539	16
Benefits and Other Changes in Insurance Policy Reserves:
Direct	184	891	697	1,185
Ceded	(602)	(316)	(907)	(636)
Net	$ (418)	$ 575	$ (210)	$ 549

F&G Reinsurance - Narrative (De

F&G Reinsurance - Narrative (Details) $ in Millions	6 Months Ended
F&G Reinsurance - Narrative (Details) $ in Millions	Jun. 30, 2022 USD ($) policy	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)
Ceded Credit Risk [Line Items]
Expected credit losses on reinsurance recoverable	$ 19	$ 20	$ 20
Number of policies reinsured by foreign company not engaged in insurance \| policy	0
Aspida Re
Ceded Credit Risk [Line Items]
Net amount recoverable	$ 1,651
Wilton Reassurance Company
Ceded Credit Risk [Line Items]
Net amount recoverable	1,259
Somerset
Ceded Credit Risk [Line Items]
Net amount recoverable	$ 626

F&G Insurance Subsidiary Fina_2

F&G Insurance Subsidiary Financial Information and Regulatory Matters - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Insurance [Abstract]
Decrease in statutory capital and surplus	$ 162	$ 106
Change in statutory capital surplus increase (decrease)	50	85
Statutory capital and surplus	$ 80	$ 115