Investments (Tables)

12 Months Ended

Dec. 31, 2013

Investment [Line Items]

Fixed maturities with a decline in fair value from amortized cost, excluding trading and hybrid securities

(Dollars in millions)	December 31, 2013
	Fair		Amortized		Unrealized		Number
	Value		Cost		Depreciation		of Issues
Fixed maturities:
One year or less:
Investment grade	$	2,250	$	2,317	$	(67)	599
Below investment grade	$	237	$	243	$	(6)	210
More than one year:
Investment grade	$	256	$	278	$	(22)	72
Below investment grade	$	46	$	50	$	(4)	16

Commercial mortgage loans by property type and geographic region

(In millions)	2013		2012
Property type
Office buildings	$	761	$	866
Apartment buildings		321		571
Industrial		450		532
Hotels		407		463
Retail facilities		285		346
Other		28		73
Total	$	2,252	$	2,851
Geographic region
Pacific	$	805	$	966
South Atlantic		564		730
New England		379		387
Central		260		352
Middle Atlantic		201		300
Mountain		43		116
Total	$	2,252	$	2,851

Credit risk profile of commercial mortgage loans

(In millions)				December 31, 2013
	Debt Service Coverage Ratio
		1.30x or		1.20x to		1.10x to		1.00x to		Less than
Loan-to-Value Ratios		Greater		1.29x		1.19x		1.09x		1.00x		Total
Below 50%	$	314	$	-	$	-	$	6	$	-	$	320
50% to 59%		581		131		-		18		-		730
60% to 69%		438		16		29		-		24		507
70% to 79%		79		113		-		-		-		192
80% to 89%		65		42		34		28		143		312
90% to 99%		-		-		58		50		67		175
100% or above		-		-		-		-		16		16
Total	$	1,477	$	302	$	121	$	102	$	250	$	2,252
(In millions)	December 31, 2012
	Debt Service Coverage Ratio
		1.30x or		1.20x to		1.10x to		1.00x to		Less than
Loan-to-Value Ratios		Greater		1.29x		1.19x		1.09x		1.00x		Total
Below 50%	$	297	$	8	$	-	$	50	$	-	$	355
50% to 59%		614		104		25		52		-		795
60% to 69%		562		75		-		66		-		703
70% to 79%		194		143		132		4		16		489
80% to 89%		45		42		131		18		58		294
90% to 99%		14		30		-		-		58		102
100% or above		-		-		30		17		66		113
Total	$	1,726	$	402	$	318	$	207	$	198	$	2,851

Impaired commercial mortgage loans and related valuation reserves

(In millions)		2013					2012
		Gross		Reserves		Net		Gross		Reserves		Net
Impaired commercial mortgage loans with valuation reserves	$	89	$	(8)	$	81	$	72	$	(7)	$	65
Impaired commercial mortgage loans with no valuation reserves		31		-		31		60		-		60
Total	$	120	$	(8)	$	112	$	132	$	(7)	$	125

Changes in valuation reserves for commercial mortgage loans Table

(In millions)	2013		2012
Reserve balance, January 1,	$	7	$	19
Increase in valuation reserves		4		10
Charge-offs upon sales and repayments, net of recoveries		(3)		(3)
Transfers to other long-term investments		-		(16)
Transfers to foreclosed real estate		-		(3)
Reserve balance, December 31,	$	8	$	7

Other long-term investments

(In millions)	2013		2012
Real estate entities	$	812	$	823
Securities partnerships		357		343
Other		104		89
Total	$	1,273	$	1,255

Trading And Hybrid Securities [Member]

Investment [Line Items]

Trading securities and hybrid securities

(In millions)	2013		2012
Included in fixed maturities:
Trading securities (amortized cost: $1; $1)	$	1	$	1
Hybrid securities (amortized cost: $5; $15)		5		15
Total	$	6	$	16
Included in equity securities:
Hybrid securities (amortized cost: $68; $84)	$	56	$	70

Available-for-sale Securities [Member]

Investment [Line Items]

Amortized cost and fair value by maturity period for fixed maturities excluding trading and hybrid securities

	Amortized		Fair
(In millions)	Cost		Value
Due in one year or less	$	1,151	$	1,173
Due after one year through five years		5,283		5,656
Due after five years through ten years		5,260		5,530
Due after ten years		2,622		3,084
Mortgage and other asset-backed securities		951		1,037
Total	$	15,267	$	16,480

Gross unrealized appreciation (depreciation) fixed maturities by type of issuer

(In millions)				December 31, 2013
			Unrealized		Unrealized
	Amortized		Appre-		Depre-		Fair
	Cost		ciation		ciation		Value
Federal government and agency	$	640	$	242	$	(2)	$	880
State and local government		1,983		167		(6)		2,144
Foreign government		1,392		64		(12)		1,444
Corporate		10,301		749		(74)		10,976
Federal agency mortgage-backed		77		-		(1)		76
Other mortgage-backed		76		3		(2)		77
Other asset-backed		798		87		(2)		883
Total	$	15,267	$	1,312	$	(99)	$	16,480
(In millions)		December 31, 2012
Federal government and agency	$	509	$	393	$	-	$	902
State and local government		2,169		270		(2)		2,437
Foreign government		1,197		126		(1)		1,322
Corporate		10,590		1,308		(17)		11,881
Federal agency mortgage-backed		121		1		-		122
Other mortgage-backed		82		11		(4)		89
Other asset-backed		797		145		(6)		936
Total	$	15,465	$	2,254	$	(30)	$	17,689