XML 85 R60.htm IDEA: XBRL DOCUMENT v3.4.0.3
FAIR VALUE MEASUREMENTS Fair Value Inputs Assets Quantitative Information (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2016
Dec. 31, 2015
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 74,906 $ 67,794
Asset derivatives 1,144 676
Assets, fair value $ 79,697 $ 72,996
Length of Volatility of Japanese Yen to US Dollar Exchange Rate 10 years 10 years
Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 266 $ 249
Asset derivatives 114 102
Assets, fair value 380 351
Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 72,128 65,349
Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 263 246
Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 1,909 1,947
Perpetual securities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 0 0
Equity securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 869 498
Equity securities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 3 3
Equity securities | Net asset value valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 3 3
Equity securities | Net asset value valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 3 $ 3
Equity securities | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Offered Quotes $ 1 $ 1
Equity securities | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Offered Quotes 724 677
Equity securities | Assets | Weighted Average | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Offered Quotes $ 8 $ 7
Mortgage- and asset-backed securities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 605 $ 582
Mortgage- and asset-backed securities | Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 237 220
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 237 220
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 237 220
Banks/financial institutions | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 5,856 6,019
Banks/financial institutions | Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 26 26
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 26 26
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 26 26
Banks/financial institutions | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 1,692 1,742
Banks/financial institutions | Perpetual securities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 0 0
Banks/financial institutions | Perpetual securities | Consensus pricing valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 44  
Banks/financial institutions | Perpetual securities | Consensus pricing valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 0  
Foreign currency swaps    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 493 563
Foreign currency swaps | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 112 101
Credit default swaps    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 2 1
Credit default swaps | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 2 1
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Discounted cash flow valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives $ 15 $ 7
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Foreign Exchange Rates [1] 20.34% 20.05%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Entity Credit Risk 0.32% 0.32%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Entity Credit Risk 1.47% 1.47%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Discounted cash flow valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives $ 12  
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Entity Credit Risk 0.12%  
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Entity Credit Risk 0.82%  
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Discounted cash flow valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives $ 85 $ 94
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Foreign Exchange Rates [1] 20.34% 20.05%
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Discounted cash flow valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives $ 2 $ 1
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Assets | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Entity Credit Risk 0.84% 1.23%
Fair Value Inputs, Recovery Rate 36.95% 36.87%
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Base Correlation [2] 64.18% 53.26%
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Base Correlation [2] 69.87% 58.40%
Dollar-denominated | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 38,483 $ 36,838
Dollar-denominated | Equity securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 289 11
Dollar-denominated | Mortgage- and asset-backed securities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 229 227
Dollar-denominated | Banks/financial institutions | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 3,172 3,478
Dollar-denominated | Banks/financial institutions | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 72 $ 111
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 1.64% 2.20%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 2.14% 2.62%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 1.64%  
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 2.14%  
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 1.64% 2.20%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 2.14% 2.62%
Yen-denominated | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 33,645 $ 28,511
Yen-denominated | Equity securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 580 487
Yen-denominated | Mortgage- and asset-backed securities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 376 355
Yen-denominated | Banks/financial institutions | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 2,684 2,541
Yen-denominated | Banks/financial institutions | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 1,620 $ 1,631
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.15% 0.42%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.60% 1.22%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.15%  
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.60%  
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.15% 0.42%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.60% 1.22%
[1] Based on 10 year volatility of JPY/USD exchange rate
[2] Range of base correlation for our bespoke tranche for attachment and detachment points corresponding to market indices.
[3] Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps
[4] Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps