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Investments (Tables)

3 Months Ended

Mar. 31, 2012

Investments [Abstract]

Available for sale fixed maturities and equity securities


		March 31, 2012																December 31, 2011
		Amortized Cost				Fair Value				Gross Unrealized								Amortized Cost				Fair Value				Gross Unrealized
		Amortized Cost				Fair Value				Gains				Losses				Amortized Cost				Fair Value				Gains				Losses
Fixed maturities:
U.S. Government and government agencies		$	374			$	390			$	16			$	—			$	363			$	382			$	19			$	—
States, municipalities and political subdivisions			3,683				3,916				239				(6	)			3,613				3,877				267				(3	)
Foreign government			243				260				17				—				236				254				18				—
Residential MBS			4,069				4,118				192				(143	)			3,858				3,848				170				(180	)
Commercial MBS			2,651				2,900				250				(1	)			2,628				2,840				218				(6	)
All other corporate			9,974				10,787				836				(23	)			9,864				10,606				802				(60	)

Total fixed maturities		$	20,994			$	22,371			$	1,550			($	173	)		$	20,562			$	21,807			$	1,494			($	249	)

Common stocks		$	643			$	892			$	258			($	9	)		$	610			$	797			$	207			($	20	)

Perpetual preferred stocks		$	157			$	162			$	8			($	3	)		$	134			$	131			$	5			($	8	)

Available for sale securities in a continuous unrealized loss position


		Less Than Twelve Months												Twelve Months or More
		Unrealized Loss				Fair Value				Fair Value as % of Cost				Unrealized Loss				Fair Value				Fair Value as % of Cost
		Unrealized Loss				Fair Value				Fair Value as % of Cost				Unrealized Loss				Fair Value				Fair Value as % of Cost
March 31, 2012
Fixed maturities:
U.S. Government and government agencies		$	—			$	27				100	%		$	—			$	—				—	%
States, municipalities and political subdivisions			(5	)			250				98	%			(1	)			22				96	%
Foreign government			—				—				—	%			—				—				—	%
Residential MBS			(36	)			846				96	%			(107	)			502				82	%
Commercial MBS			(1	)			38				97	%			—				2				100	%
All other corporate			(12	)			602				98	%			(11	)			112				91	%

Total fixed maturities		($	54	)		$	1,763				97	%		($	119	)		$	638				84	%

Common stocks		($	8	)		$	70				90	%		($	1	)		$	4				80	%

Perpetual preferred stocks		$	—			$	2				100	%		($	3	)		$	22				88	%


December 31, 2011
Fixed maturities:
U.S. Government and government agencies		$	—			$	2				100	%		$	—			$	—				—	%
States, municipalities and political subdivisions			(2	)			120				98	%			(1	)			59				98	%
Foreign government			—				1				100	%			—				—				—	%
Residential MBS			(59	)			1,141				95	%			(121	)			473				80	%
Commercial MBS			(6	)			183				97	%			—				18				100	%
All other corporate			(43	)			940				96	%			(17	)			114				87	%

Total fixed maturities		($	110	)		$	2,387				96	%		($	139	)		$	664				83	%

Common stocks		($	19	)		$	169				90	%		($	1	)		$	4				80	%

Perpetual preferred stocks		($	1	)		$	23				96	%		($	7	)		$	31				82	%

Roll forward of cumulative credit portion of other-than-temporary impairments on fixed maturity securities


		2012				2011
Balance at January 1		$	187			$	143
Additional credit impairments on:
Previously impaired securities			3				7
Securities without prior impairments			—				1

Balance at March 31		$	190			$	151

Available for sale fixed maturity securities by contractual maturity date


		Amortized Cost				Fair Value
		Amortized Cost				Amount				%
Maturity
One year or less		$	634			$	648				3	%
After one year through five years			5,265				5,599				25
After five years through ten years			6,425				7,001				31
After ten years			1,950				2,105				10

			14,274				15,353				69
MBS			6,720				7,018				31

Total		$	20,994			$	22,371				100	%

Components of the net unrealized gain on securities, included in Accumulated Other Comprehensive Income


		Pre-tax				Deferred Tax and Amounts Attributable to Noncontrolling Interests				Net
March 31, 2012
Unrealized gain on:
Fixed maturity securities		$	1,377			($	492	)		$	885
Equity securities			254				(90	)			164
Deferred policy acquisition costs			(539	)			189				(350	)
Annuity benefits and other liabilities			10				(4	)			6

		$	1,102			($	397	)		$	705

December 31, 2011
Unrealized gain on:
Fixed maturity securities		$	1,245			($	444	)		$	801
Equity securities			184				(65	)			119
Deferred policy acquisition costs			(537	)			188				(349	)
Annuity benefits and other liabilities			10				(3	)			7

		$	902			($	324	)		$	578

Realized gains (losses) and changes in unrealized appreciation (depreciation) related to fixed maturity and equity security investments


		Fixed Maturities				Equity Securities				Mortgage Loans and Other Investments				Other (a)				Tax Effects				Noncon- trolling Interests				Total
Quarter ended March 31, 2012
Realized before impairments		$	14			$	35			$	1			($	2	)		($	17	)		$	—			$	31
Realized – impairments			(4	)			(2	)			—				2				1				—				(3	)
Change in unrealized			132				70				—				(2	)			(70	)			(3	)			127

Quarter ended March 31, 2011
Realized before impairments		$	13			$	1			($	2	)		($	2	)		($	3	)		$	—			$	7
Realized – impairments			(11	)			—				(3	)			4				3				—				(7	)
Change in unrealized			37				13				—				(22	)			(10	)			—				18

(a)	Primarily adjustments to deferred policy acquisition costs related to annuities.

Gross realized gains and losses on available for sale fixed maturity and equity security investments


		Three months ended March 31,
		2012				2011
Fixed maturities:
Gross gains		$	10			$	17
Gross losses			—				(1	)
Equity securities:
Gross gains			35				1
Gross losses			—				—

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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