DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2011

Maximum Potential Risk, Fair Value, Weighted Average Years to Maturity, and Underlying Referenced Credit Obligation Type for Credit Derivatives

The following tables present the maximum potential risk, fair value, weighted-average years to maturity, and underlying referenced credit obligation type for credit default swaps.

	June 30, 2011
	Less than one year				One to three years				Three to five years						Five to ten years						Total
(In millions)	Maximum potential risk		Estimated fair value		Maximum potential risk		Estimated fair value		Maximum potential risk			Estimated fair value			Maximum potential risk			Estimated fair value			Maximum potential risk			Estimated fair value
Index exposure:
Corporate bonds	$	0	$	0	$	0	$	0	$	(141	)	$	(11	)	$	(418	)	$	(242	)	$	(559	)	$	(253	)

	December 31, 2010
	Less than one year				One to three years				Three to five years						Five to ten years						Total
(In millions)	Maximum potential risk		Estimated fair value		Maximum potential risk		Estimated fair value		Maximum potential risk			Estimated fair value			Maximum potential risk			Estimated fair value			Maximum potential risk			Estimated fair value
Index exposure:
Corporate bonds	$	0	$	0	$	0	$	0	$	(340	)	$	(118	)	$	(416	)	$	(225	)	$	(756	)	$	(343	)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The tables below summarize the balance sheet classification of our derivative fair value amounts, as well as the gross asset and liability fair value amounts. The fair value amounts presented do not include income accruals. The notional amount of derivative contracts represents the basis upon which pay or receive amounts are calculated. Notional amounts are not reflective of credit risk.

	June 30, 2011
(In millions)	Net Derivatives					Asset Derivatives		Liability Derivatives
Hedge Designation/ Derivative Type	Notional Amount		Fair Value			Fair Value		Fair Value
Cash flow hedges:
Interest rate swaps	$	248	$	(1)		$	0	$	(1)
Foreign currency swaps		575		71			94		(23)
Total cash flow hedges		823		70			94		(24)
Non-qualifying strategies:
Interest rate swaps		546		121			125		(4)
Foreign currency swaps		3,927		(27)			276		(303)
Credit default swaps		559		(253)			0		(253)
Total non-qualifying strategies		5,032		(159)			401		(560)
Total cash flow hedges and non-qualifying strategies	$	5,855	$	(89)		$	495	$	(584)
Balance Sheet Location
Other assets	$	2,267	$	495		$	495	$	0
Other liabilities		3,588		(584)			0		(584)
Total derivatives	$	5,855	$	(89)		$	495	$	(584)
	December 31, 2010
(In millions)	Net Derivatives					Asset Derivatives		Liability Derivatives
Hedge Designation/ Derivative Type	Notional Amount		Fair Value			Fair Value		Fair Value
Cash flow hedges:
Interest rate swaps	$	245	$	(2)		$	0	$	(2)
Foreign currency swaps		615		170			180		(10)
Total cash flow hedges		860		168			180		(12)
Non-qualifying strategies:
Interest rate swaps		743		56			124		(68)
Foreign currency swaps		3,815		(58)			260		(318)
Credit default swaps		756		(343)			0		(343)
Total non-qualifying strategies		5,314		(345)			384		(729)
Total cash flow hedges and non-qualifying strategies	$	6,174	$	(177)		$	564	$	(741)
Balance Sheet Location
Other assets	$	2,364	$	564		$	564	$	0
Other liabilities		3,810		(741	)		0		(741	)
Total derivatives	$	6,174	$	(177	)	$	564	$	(741	)

Cash Flow Hedges Gains (Losses) Recognized in Other Comprehensive Income and Income

The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges:

Derivatives in Cash Flow Hedging Relationships

(In millions)	Gain (Loss) Recognized in Other Comprehensive Income on  Derivative (Effective Portion)					Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)
	Three Months Ended June 30, 2011		Six Months Ended June 30, 2011			Three Months Ended June 30, 2011		Six Months Ended June 30, 2011
Interest rate swaps	$	0	$	1		$	0	$	0
Foreign currency swaps		17		(39	)		2		(2	)
Total	$	17	$	(38	)	$	2	$	(2	)

Derivatives in Cash Flow Hedging Relationships

(In millions)	Gain (Loss) Recognized in Other Comprehensive Income on  Derivative (Effective Portion)					Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)
	Three Months Ended June 30, 2010		Six Months Ended June 30, 2010			Three Months Ended June 30, 2010		Six Months Ended June 30, 2010
Interest rate swaps	$	0	$	1		$	0	$	0
Foreign currency swaps		8		(3	)		3		0
Total	$	8	$	(2	)	$	3	$	0

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table presents the gain or loss recognized in income on non-qualifying strategies:

Non-qualifying Strategies

Gain (Loss) Recognized within Net Realized Investment Gains (Losses)

(In millions)	Three Months Ended June 30, 2011			Six Months Ended June 30, 2011
Interest rate swaps	$	4		$	(1	)
Foreign currency swaps		3			(26	)
Credit default swaps		(43	)		(38	)
Other		9			12
Total	$	(27	)	$	(53	)

Non-qualifying Strategies

Gain (Loss) Recognized within Net Realized Investment Gains (Losses)

(In millions)	Three Months Ended June 30, 2010			Six Months Ended June 30, 2010
Interest rate swaps	$	8		$	3
Foreign currency swaps		(48	)		(44	)
Credit default swaps		(66	)		(45	)
Total	$	(106	)	$	(86	)