XML 76 R61.htm IDEA: XBRL DOCUMENT v3.7.0.1
FAIR VALUE MEASUREMENTS - Fair Value Inputs Assets Quantitative Information (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 80,196 $ 76,702
Asset derivatives 580 1,207
Assets, fair value $ 85,122 $ 83,044
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 $ 274 $ 242
Asset derivatives 146 127
Assets, fair value 420 369
Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 77,077 73,760
Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 270 239
Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 1,770 1,633
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 1,349 1,309
Equity securities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 4 3
Equity securities | Net asset value valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 4 3
Equity securities | Net asset value valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 4 $ 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 728 701
Equity securities | Assets | Weighted Average | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Offered Quotes $ 8 $ 8
Mortgage- and asset-backed securities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 504 $ 1,337
Mortgage- and asset-backed securities | Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 195 198
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 195 198
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 195 198
Public utilities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 7,843 7,683
Public utilities | Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 16 16
Public utilities | Fixed maturities | Discounted cash flow valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 16 16
Public utilities | Fixed maturities | Discounted cash flow valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 16 16
Banks/financial institutions | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 6,545 6,063
Banks/financial institutions | Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 24 25
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 24 25
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 24 25
Banks/financial institutions | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 1,551 1,420
Banks/financial institutions | Perpetual securities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 0 0
Other corporate | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 30,157 29,699
Other corporate | Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 35 0
Other corporate | Fixed maturities | Discounted cash flow valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 35  
Other corporate | Fixed maturities | Discounted cash flow valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 35  
Other corporate | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 219 213
Other corporate | Perpetual securities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 0 0
Foreign currency swaps    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 318 490
Foreign currency swaps | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 144 125
Credit default swaps    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 2 2
Credit default swaps | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 2 2
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 $ 25 $ 16
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] 21.34% 21.47%
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 0.11% 0.17%
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% 1.72%
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 $ 50 $ 29
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 0.10% 0.16%
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 0.79% 0.88%
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 $ 69 $ 80
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] 21.34% 21.47%
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 $ 2
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 0.48% 0.54%
Fair Value Inputs, Recovery Rate 36.69% 36.69%
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] 61.55% 52.18%
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] 66.55% 56.07%
Dollar-denominated | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 37,023 $ 36,611
Dollar-denominated | Equity securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 628 604
Dollar-denominated | Mortgage- and asset-backed securities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 200 216
Dollar-denominated | Public utilities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 5,888 5,835
Dollar-denominated | Banks/financial institutions | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 3,175 3,061
Dollar-denominated | Banks/financial institutions | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 78 75
Dollar-denominated | Other corporate | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 26,148 $ 25,887
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] 2.18% 2.34%
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] 2.45% 2.59%
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] 2.18% 2.34%
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] 2.45% 2.59%
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] 2.18% 2.34%
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] 2.45% 2.59%
Yen-denominated | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 40,054 $ 37,149
Yen-denominated | Equity securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 721 705
Yen-denominated | Mortgage- and asset-backed securities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 304 1,121
Yen-denominated | Public utilities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 1,955 1,848
Yen-denominated | Banks/financial institutions | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 3,370 3,002
Yen-denominated | Banks/financial institutions | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 1,473 1,345
Yen-denominated | Other corporate | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 4,009 3,812
Yen-denominated | Other corporate | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 219 $ 213
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] 0.20% 0.22%
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] 0.73% 0.80%
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] 0.20% 0.22%
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] 0.73% 0.80%
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] 0.20% 0.22%
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] 0.73% 0.80%
[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