Deferred Policy Acquisition Costs

6 Months Ended

Jun. 30, 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 March 31, 2015	$	217		$	942		$	128		$	71		$	(602	)	$	539		$	756
Additions	137			46			1			—			—			47			184
Amortization:
Periodic amortization	(130		)	(55		)	(7		)	(3		)	—			(65		)	(195		)
Included in realized gains	—			1			1			—			—			2			2
Foreign currency translation	(1		)	—			—			—			—			—			(1		)
Change in unrealized	—			—			—			—			219			219			219
Balance at June 30, 2015	$	223		$	934		$	123		$	68		$	(383	)	$	742		$	965
Balance at March 31, 2014	$	214		$	898		$	146		$	82		$	(450	)	$	676		$	890
Additions	127			52			1			—			—			53			180
Amortization:
Periodic amortization	(123		)	(33		)	(6		)	(3		)	—			(42		)	(165		)
Included in realized gains	—			1			—			—			—			1			1
Foreign currency translation	1			—			—			—			—			—			1
Change in unrealized	—			—			—			—			(101		)	(101		)	(101		)
Balance at June 30, 2014	$	219		$	918		$	141		$	79		$	(551	)	$	587		$	806
Balance at December 31, 2014	$	221		$	925		$	132		$	74		$	(531	)	$	600		$	821
Additions	258			90			4			—			—			94			352
Amortization:
Periodic amortization	(256		)	(84		)	(14		)	(6		)	—			(104		)	(360		)
Included in realized gains	—			3			1			—			—			4			4
Foreign currency translation	—			—			—			—			—			—			—
Change in unrealized	—			—			—			—			148			148			148
Balance at June 30, 2015	$	223		$	934		$	123		$	68		$	(383	)	$	742		$	965
Balance at December 31, 2013	$	211		$	875		$	149		$	85		$	(345	)	$	764		$	975
Additions	251			102			5			—			—			107			358
Amortization:
Periodic amortization	(244		)	(60		)	(13		)	(6		)	—			(79		)	(323		)
Included in realized gains	—			1			—			—			—			1			1
Foreign currency translation	1			—			—			—			—			—			1
Change in unrealized	—			—			—			—			(206		)	(206		)	(206		)
Balance at June 30, 2014	$	219		$	918		$	141		$	79		$	(551	)	$	587		$	806

The present value of future profits (“PVFP”) amounts in the table above are net of $215 million and $209 million of accumulated amortization at June 30, 2015 and December 31, 2014, respectively.