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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS  
Schedule of changes in goodwill by reportable segment

 

General Insurance

 

 

 

 

 

 

 

North

 

Life

 

Other

 

 

(in millions)

America

International

Insurance

Operations

 

Total

Balance at January 1, 2018:

 

 

 

 

 

 

 

 

 

 

Goodwill - gross

$

1,473

$

3,269

$

270

$

59

$

5,071

Accumulated impairments

 

(1,145)

 

(2,255)

 

(67)

 

(10)

 

(3,477)

Net goodwill

 

328

 

1,014

 

203

 

49

 

1,594

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

Acquisitions(a)

 

2,332

 

157

 

46

 

9

 

2,544

Other

 

(12)

 

(48)

 

(5)

 

9

 

(56)

Balance at December 31, 2018:

 

 

 

 

 

 

 

 

 

 

Goodwill - gross

 

3,793

 

3,378

 

311

 

77

 

7,559

Accumulated impairments

 

(1,145)

 

(2,255)

 

(67)

 

(10)

 

(3,477)

Net goodwill

 

2,648

 

1,123

 

244

 

67

 

4,082

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

20

 

-

 

-

 

20

Other(b)

 

-

 

26

 

(77)

 

(13)

 

(64)

Balance at December 31, 2019:

 

 

 

 

 

 

 

 

 

 

Goodwill - gross

 

3,793

 

3,424

 

234

 

64

 

7,515

Accumulated impairments

 

(1,145)

 

(2,255)

 

(67)

 

(10)

 

(3,477)

Net goodwill

 

2,648

 

1,169

 

167

 

54

 

4,038

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

Dispositions

 

(2)

 

-

 

-

 

(4)

 

(6)

Other

 

-

 

32

 

10

 

-

 

42

Balance at December 31, 2020:

 

 

 

 

 

 

 

 

 

 

Goodwill - gross

 

3,791

 

3,456

 

244

 

60

 

7,551

Accumulated impairments

 

(1,145)

 

(2,255)

 

(67)

 

(10)

 

(3,477)

Net goodwill

$

2,646

$

1,201

$

177

$

50

$

4,074

(a)Includes goodwill of $2.0 billion, $492 million and $46 million relating to the acquisitions of Validus, Glatfelter and Ellipse, respectively.

 

(b)Reflects $98 million of goodwill that has been reclassified to assets held for sale.
Changes in other intangible assets

 

General Insurance

 

 

 

 

 

 

 

North

 

Life

 

Other

 

 

(in millions)

America

International

Insurance

Operations

 

Total

Other intangible assets

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2018

$

27

$

8

$

34

$

37

$

106

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

61

 

207

 

16

 

-

 

284

Amortization

 

(2)

 

(3)

 

(4)

 

(2)

 

(11)

Other

 

-

 

-

 

-

 

(19)

 

(19)

Balance at December 31, 2018

$

86

$

212

$

46

$

16

$

360

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

-

 

-

 

-

 

-

Amortization

 

(1)

 

(1)

 

(4)

 

(2)

 

(8)

Other

 

(3)

 

-

 

(18)

 

2

 

(19)

Balance at December 31, 2019

$

82

$

211

$

24

$

16

$

333

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

-

 

-

 

-

 

-

Dispositions

 

-

 

-

 

-

 

(4)

 

(4)

Amortization

 

(2)

 

(1)

 

(4)

 

(2)

 

(9)

Other

 

(1)

 

-

 

2

 

(2)

 

(1)

Balance at December 31, 2020

$

79

$

210

$

22

$

8

$

319

 

 

 

 

 

 

 

 

 

 

 

Value of distribution network acquired

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2018

$

-

$

-

$

-

$

-

$

-

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

-

 

-

 

582

 

582

Amortization

 

-

 

-

 

-

 

(15)

 

(15)

Other

 

-

 

-

 

-

 

2

 

2

Balance at December 31, 2018

$

-

$

-

$

-

$

569

$

569

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

-

 

-

 

-

 

-

Amortization

 

-

 

-

 

-

 

(39)

 

(39)

Other

 

-

 

-

 

-

 

6

 

6

Balance at December 31, 2019

$

-

$

-

$

-

$

536

$

536

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

-

 

-

 

-

 

-

Amortization

 

-

 

-

 

-

 

(40)

 

(40)

Other

 

-

 

-

 

-

 

1

 

1

Balance at December 31, 2020

$

-

$

-

$

-

$

497

$

497