Sale of Businesses (Tables)

12 Months Ended

Dec. 31, 2016

Balance Sheet Information for Held for Sale

The major assets and liability categories of our European mortgage insurance business were as follows as of December 31:

(Amounts in millions)	2016		2015
Assets
Investments:
Fixed maturity securities available-for-sale, at fair value	$	—	$	195
Other invested assets		—		6
Total investments		—		201
Cash and cash equivalents		—		28
Accrued investment income		—		3
Reinsurance recoverable		—		21
Other assets		—		14
Assets held for sale		—		267
Fair value less closing costs impairment		—		(140	)
Total assets held for sale	$	—	$	127
Liabilities
Liability for policy and contract claims	$	—	$	56
Unearned premiums		—		58
Other liabilities		—		12
Deferred tax liability		—		1
Liabilities held for sale	$	—	$	127

Summary operating results of discontinued operations were as follows for the years ended December 31:

(Amounts in millions)	2016			2015			2014
Revenues:
Premiums	$	—		$	627		$	731
Net investment income		—			74			100
Net investment gains (losses)		—			—			2
Policy fees and other income		—			—			3
Total revenues		—			701			836
Benefits and expenses:
Benefits and other changes in policy reserves		—			182			202
Acquisition and operating expenses		—			396			447
Amortization of deferred acquisition costs and intangibles		—			83			118
Interest expense		—			29			46
Total benefits and expenses		—			690			813
Income before income taxes and loss on sale		—			11			23
Provision (benefit) for income taxes		—			37			(134	)
Income (loss) before loss on sale		—			(26	)		157
Loss on sale, net of taxes		(29	)		(381	)		—
Income (loss) from discontinued operations, net of taxes	$	(29	)	$	(407	)	$	157