Deferred Policy Acquisition Costs

3 Months Ended

Mar. 31, 2016

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			Subtotal			Unrealized			Total			Total
Balance at December 31, 2015	$	226		$	1,018		$	119		$	55		$	1,192		$	(234	)	$	958		$	1,184
Additions	132			68			5			—			73			—			73			205
Amortization:
Periodic amortization	(134		)	(25		)	(5		)	(2		)	(32		)	—			(32		)	(166		)
Included in realized gains	—			2			—			—			2			—			2			2
Change in unrealized	—			—			—			—			—			(170		)	(170		)	(170		)
Balance at March 31, 2016	$	224		$	1,063		$	119		$	53		$	1,235		$	(404	)	$	831		$	1,055
Balance at December 31, 2014	$	221		$	925		$	132		$	74		$	1,131		$	(531	)	$	600		$	821
Additions	121			44			3			—			47			—			47			168
Amortization:
Periodic amortization	(126		)	(29		)	(7		)	(3		)	(39		)	—			(39		)	(165		)
Included in realized gains	—			2			—			—			2			—			2			2
Foreign currency translation	1			—			—			—			—			—			—			1
Change in unrealized	—			—			—			—			—			(71		)	(71		)	(71		)
Balance at March 31, 2015	$	217		$	942		$	128		$	71		$	1,141		$	(602	)	$	539		$	756

The present value of future profits (“PVFP”) amounts in the table above are net of $127 million and $125 million of accumulated amortization at March 31, 2016 and December 31, 2015, respectively.