Subsequent Events

12 Months Ended

Dec. 31, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Note R. Subsequent Event

On February 10, 2014, the Company entered into a definitive agreement to sell the majority of its run-off annuity and pension deposit business, through the sale of the common stock of CAC, and a 100% coinsurance agreement on a separate small block of annuity business outside of CAC.

The business being sold is currently reported within the Life & Group Non-Core segment. As of December 31, 2013, gross insurance reserves for this business were approximately $3.4 billion. Results for this business were net income of approximately $31 million and $8 million for the years ended December 31, 2013 and 2012, and a net loss of approximately $124 million for the year ended December 31, 2011.

The sale is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2014. An impairment loss of approximately $220 million, after-tax, will be recorded in the first quarter of 2014.  This business will be reported as discontinued operations in the first quarter of 2014.