VARIABLE INTEREST ENTITIES (Tables)

3 Months Ended

Mar. 31, 2018

Variable Interest Entity Primary Beneficiary

Variable Interest Entities [Line Items]

(in millions)		Real Estate and Investment Entities^(d)		Securitization Vehicles^(e)		Affordable Housing Partnerships		Other		Total
March 31, 2018
Assets:
Bonds available for sale	$	-	$	8,484	$	-	$	-	$	8,484
Other bond securities		-		4,349		-		3		4,352
Mortgage and other loans receivable		-		2,759		-		-		2,759
Other invested assets		1,413		201		3,314		25		4,953
Other^(a)		308		1,492		309		84		2,193
Total assets^(b)	$	1,721	$	17,285	$	3,623	$	112	$	22,741
Liabilities:
Long-term debt	$	741	$	1,965	$	1,969	$	5	$	4,680
Other ^(c)		135		164		187		25		511
Total liabilities	$	876	$	2,129	$	2,156	$	30	$	5,191
December 31, 2017
Assets:
Bonds available for sale	$	-	$	9,632	$	-	$	-	$	9,632
Other bond securities		-		4,518		-		3		4,521
Mortgage and other loans receivable		-		2,290		-		-		2,290
Other invested assets		1,365		206		3,087		25		4,683
Other^(a)		302		1,481		350		85		2,218
Total assets^(b)	$	1,667	$	18,127	$	3,437	$	113	$	23,344
Liabilities:
Long-term debt	$	680	$	1,624	$	1,825	$	5	$	4,134
Other^(c)		144		244		181		26		595
Total liabilities	$	824	$	1,868	$	2,006	$	31	$	4,729

(a) Comprised primarily of Short-term investments and Other assets at March 31, 2018 and December 31, 2017.

(b) The assets of each VIE can be used only to settle specific obligations of that VIE.

(d) At March 31, 2018 and December 31, 2017, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $133 million and $86 million, respectively.

(e) At March 31, 2018 and December 31, 2017, $16.7 billion and $17.6 billion, respectively, of the total assets of consolidated securitization vehicles were owed to AIG Parent or its subsidiaries.

Variable Interest Entity Not Primary Beneficiary

Variable Interest Entities [Line Items]

Schedule of Assets And Liabilities of Variable Interest Entities by Balance Sheets Location

			Maximum Exposure to Loss
		Total VIE		On-Balance		Off-Balance
(in millions)		Assets		Sheet^(b)		Sheet			Total
March 31, 2018
Real estate and investment entities^(a)	$	371,105	$	9,054	$	1,988		$	11,042
Affordable housing partnerships		4,146		669		-			669
Other		2,908		219		1,203	^(c)		1,422
Total	$	378,159	$	9,942	$	3,191		$	13,133
December 31, 2017
Real estate and investment entities^(a)	$	380,030	$	9,253	$	2,043		$	11,296
Affordable housing partnerships		4,468		725		-			725
Other		2,703		254		1,205	^(c)		1,459
Total	$	387,201	$	10,232	$	3,248		$	13,480

(a) Comprised primarily of hedge funds and private equity funds.

(b) At March 31, 2018 and December 31, 2017, $9.6 billion and $9.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.

(c) These amounts represent our estimate of the maximum exposure to loss under certain insurance policies issued to VIEs if a hypothetical loss occurred to the extent of the full amount of the insured value. Our insurance policies cover defined risks and our estimate of liability is included in our insurance reserves on the balance sheet.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details