Lending Activities (Tables)

9 Months Ended

Sep. 30, 2011

Lending Activities

Composition of mortgage and other loans receivable

(in millions)	September 30, 2011			December 31, 2010
Commercial mortgages	$	13,342		$	13,571
Life insurance policy loans		3,064			3,133
Commercial loans, other loans and notes receivable		3,634			4,411
Total mortgage and other loans receivable		20,040			21,115
Allowance for losses		(761	)		(878	)
Mortgage and other loans receivable, net	$	19,279		$	20,237

Schedule of credit quality indicators for the commercial mortgage loans

September 30, 2011 (dollars in millions)		Number of Loans		Class														Percent of Total
				Apartments		Offices		Retail		Industrial		Hotel		Others		Total
Credit Quality Indicator:
	In good standing		1,045	$	1,793	$	4,602	$	2,267	$	1,938	$	894	$	1,284	$	12,778		96	%
	Restructured(a)		12		49		185		-		4		-		68		306		2
	90 days or less delinquent		2		1		11		-		-		-		-		12		-
	>90 days delinquent or in process of foreclosure		20		43		124		-		2		-		77		246		2
Total(b)			1,079	$	1,886	$	4,922	$	2,267	$	1,944	$	894	$	1,429	$	13,342		100	%
Valuation allowance				$	40	$	152	$	29	$	75	$	16	$	37	$	349		3	%

(a)

Loans that have been modified in troubled debt restructurings and are performing according to their restructured terms. See discussion of troubled debt restructurings below.

(b)

Does not reflect valuation allowances.

Schedule of changes in the allowance for losses on mortgage and other loans receivable

			2011									2010
Nine Months Ended September 30, (in millions)
			Commercial Mortgages			Other Loans			Total			Commercial Mortgages			Other Loans			Total
Allowance, beginning of year			$	470		$	408		$	878		$	432		$	2,012		$	2,444
	Loans charged off			(40	)		(46	)		(86	)		(210	)		(103	)		(313	)
	Recoveries of loans previously charged off			36			-			36			-			12			12
		Net charge-offs		(4	)		(46	)		(50	)		(210	)		(91	)		(301	)
	Provision for loan losses			(62	)		50			(12	)		278			39			317
	Other			(55	)		-			(55	)		18			(48	)		(30	)
	Reclassified to Assets of businesses held for sale			-			-			-			(106	)		(1,421	)		(1,527	)
Allowance, end of period			$	349	*	$	412		$	761		$	412	*	$	491		$	903

*

Of the total, $105 million and $101 million relates to individually assessed credit losses on $570 million and $703 million of commercial mortgage loans as of September 30, 2011 and 2010, respectively