Deferred Policy Acquisition Costs

3 Months Ended

Mar. 31, 2015

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs

Deferred Policy Acquisition Costs

A progression of deferred policy acquisition costs is presented below (in millions):

	P&C			Annuity and Run-off Long-term Care and Life
	Deferred			Deferred			Sales												Consolidated
	Costs			Costs			Inducements			PVFP			Unrealized			Total			Total
Balance at December 31, 2014	$	221		$	925		$	132		$	74		$	(531	)	$	600		$	821
Additions	121			44			3			—			—			47			168
Amortization:
Periodic amortization	(126		)	(29		)	(7		)	(3		)	—			(39		)	(165		)
Included in realized gains	—			2			—			—			—			2			2
Foreign currency translation	1			—			—			—			—			—			1
Change in unrealized	—			—			—			—			(71		)	(71		)	(71		)
Balance at March 31, 2015	$	217		$	942		$	128		$	71		$	(602	)	$	539		$	756
Balance at December 31, 2013	$	211		$	875		$	149		$	85		$	(345	)	$	764		$	975
Additions	124			50			4			—			—			54			178
Periodic amortization	(121		)	(27		)	(7		)	(3		)	—			(37		)	(158		)
Change in unrealized	—			—			—			—			(105		)	(105		)	(105		)
Balance at March 31, 2014	$	214		$	898		$	146		$	82		$	(450	)	$	676		$	890

The present value of future profits (“PVFP”) amounts in the table above are net of $212 million and $209 million of accumulated amortization at March 31, 2015 and December 31, 2014, respectively.