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Deferred Policy Acquisition Costs
9 Months Ended
Sep. 30, 2011
Deferred Policy Acquisition Costs [Abstract] 
Deferred Policy Acquisition Costs
G. Deferred Policy Acquisition Costs
Deferred policy acquisition costs consisted of the following (in millions):
                 
    September 30,     December 31,  
    2011     2010  
Property and casualty insurance
  $ 330     $ 324  
Annuity and supplemental insurance:
               
Policy acquisition costs
    979       892  
Policyholder sales inducements
    205       204  
Present value of future profits (“PVFP”)
    148       164  
Impact of unrealized gains and losses on securities
    (535 )     (340 )
 
           
Total annuity and supplemental
    797       920  
 
           
 
               
 
  $ 1,127     $ 1,244  
 
           
The PVFP amounts in the table above are net of $190 million and $174 million of accumulated amortization at September 30, 2011 and December 31, 2010, respectively. Amortization of the PVFP was $5 million in the third quarter and $16 million during the first nine months of 2011 and $6 million in the third quarter and $22 million during the first nine months of 2010, respectively.