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VARIABLE INTEREST ENTITIES (Tables)
9 Months Ended
Sep. 30, 2019
Variable Interest Entity Primary Beneficiary  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities

 

 

Real Estate and

 

 

 

Affordable

 

 

 

 

 

 

Investment

 

Securitization

 

Housing

 

 

 

 

(in millions)

 

Entities(d)

 

Vehicles(e)

 

Partnerships

 

Other

 

Total

September 30, 2019

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

Bonds available for sale

$

211

$

7,217

$

-

$

-

$

7,428

Other bond securities

 

-

 

3,641

 

-

 

-

 

3,641

Mortgage and other loans receivable

 

-

 

3,520

 

-

 

-

 

3,520

Other invested assets

 

5,774

 

-

 

3,518

 

33

 

9,325

Other(a)

 

444

 

1,934

 

498

 

49

 

2,925

Total assets(b)

$

6,429

$

16,312

$

4,016

$

82

$

26,839

Liabilities:

 

 

 

 

 

 

 

 

 

 

Long-term debt

$

3,194

$

3,720

$

2,121

$

4

$

9,039

Other(c)

 

400

 

156

 

184

 

23

 

763

Total liabilities

$

3,594

$

3,876

$

2,305

$

27

$

9,802

December 31, 2018

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

Bonds available for sale

$

-

$

7,662

$

-

$

-

$

7,662

Other bond securities

 

-

 

3,923

 

-

 

2

 

3,925

Mortgage and other loans receivable

 

-

 

3,693

 

-

 

-

 

3,693

Other invested assets

 

5,212

 

-

 

3,142

 

24

 

8,378

Other(a)

 

580

 

1,581

 

394

 

70

 

2,625

Total assets(b)

$

5,792

$

16,859

$

3,536

$

96

$

26,283

Liabilities:

 

 

 

 

 

 

 

 

 

 

Long-term debt

$

2,577

$

3,154

$

1,834

$

4

$

7,569

Other(c)

 

227

 

165

 

159

 

24

 

575

Total liabilities

$

2,804

$

3,319

$

1,993

$

28

$

8,144

(a) Comprised primarily of Short-term investments and Other assets at September 30, 2019 and December 31, 2018.

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

(c) Comprised primarily of Other liabilities at September 30, 2019 and December 31, 2018.

(d) At September 30, 2019 and December 31, 2018, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $2.7 billion and $1.4 billion, respectively.

(e) At September 30, 2019 and December 31, 2018, $15.5 billion and $16.0 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 Entity [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

September 30, 2019

 

 

 

 

 

 

 

 

 

Real estate and investment entities(a)

$

278,064

$

6,537

$

3,553

 

$

10,090

Affordable housing partnerships

 

3,358

 

462

 

-

 

 

462

Other

 

5,387

 

326

 

-

(c)

 

326

Total

$

286,809

$

7,325

$

3,553

 

$

10,878

December 31, 2018

 

 

 

 

 

 

 

 

 

Real estate and investment entities(a)

$

309,598

$

6,820

$

2,501

 

$

9,321

Affordable housing partnerships

 

4,116

 

607

 

-

 

 

607

Other

 

2,813

 

284

 

1,222

(c)

 

1,506

Total

$

316,527

$

7,711

$

3,723

 

$

11,434

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

(b) At September 30, 2019 and December 31, 2018, $7.0 billion and $7.4 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.