XML 101 R83.htm IDEA: XBRL DOCUMENT v3.3.1.900
Fair Value Measurements - Financial Assets and Financial Liabilities Carried at Fair Value (Details)
$ in Millions
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Financial assets at fair value:    
Fixed maturities $ 19,455 $ 18,983
Equity securities 190 189
Short-term investments 381 163
Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 19,455 [1] 18,983 [2]
Equity securities 190 189
Subtotal 19,645 19,172
Short-term investments 381 163
Total financial assets at fair value, excluding separate accounts 20,949 20,294
Financial liabilities at fair value:    
Total financial liabilities at fair value 885 930
Run-off Settlement Annuity Business [Member] | Fair Value, Measurements, Recurring [Member]    
Financial liabilities at fair value:    
Net appreciation required to adjust future policy benefits for run-off settlement annuity business included in fixed maturities 483 756
Other derivatives [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Derivative assets 16 [3] 6 [4]
Financial liabilities at fair value:    
Derivative liabilities   1
Other derivatives [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Derivative assets 15 5
Other derivatives [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Derivative assets $ 1 $ 1
Guaranteed Minimum Income Benefit [Member]    
Financial liabilities at fair value:    
Number of external reinsurers 3 3
Guaranteed Minimum Income Benefit [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Derivative assets $ 907 [5] $ 953 [6]
Financial liabilities at fair value:    
Derivative liabilities 885 929
Federal government and agency [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 779 954
State and local government [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 1,641 1,856
Foreign government [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 2,014 1,940
Corporate [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 14,448 13,498
Mortgage-backed [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 49 85
Other asset-backed [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 524 650
Fair Value Inputs Level 1 [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 251 [1] 290 [2]
Equity securities 32 61
Subtotal 283 351
Short-term investments 0 0
Total financial assets at fair value, excluding separate accounts 283 351
Financial liabilities at fair value:    
Total financial liabilities at fair value 0 0
Fair Value Inputs Level 1 [Member] | Other derivatives [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Derivative assets 0 [3] 0 [4]
Financial liabilities at fair value:    
Derivative liabilities   0
Fair Value Inputs Level 1 [Member] | Guaranteed Minimum Income Benefit [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Derivative assets 0 [5] 0 [6]
Financial liabilities at fair value:    
Derivative liabilities 0 0
Fair Value Inputs Level 1 [Member] | Federal government and agency [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 251 290
Fair Value Inputs Level 1 [Member] | State and local government [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 0 0
Fair Value Inputs Level 1 [Member] | Foreign government [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 0 0
Fair Value Inputs Level 1 [Member] | Corporate [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 0 0
Fair Value Inputs Level 1 [Member] | Mortgage-backed [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 0 0
Fair Value Inputs Level 1 [Member] | Other asset-backed [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 0 0
Fair Value Inputs Level 2 [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 18,547 [1] 17,879 [2]
Equity securities 89 85
Subtotal 18,636 17,964
Short-term investments 381 163
Total financial assets at fair value, excluding separate accounts 19,033 18,133
Financial liabilities at fair value:    
Total financial liabilities at fair value 0 1
Fair Value Inputs Level 2 [Member] | Other derivatives [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Derivative assets 16 [3] 6 [4]
Financial liabilities at fair value:    
Derivative liabilities   1
Fair Value Inputs Level 2 [Member] | Guaranteed Minimum Income Benefit [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Derivative assets 0 [5] 0 [6]
Financial liabilities at fair value:    
Derivative liabilities 0 0
Fair Value Inputs Level 2 [Member] | Federal government and agency [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 528 664
Fair Value Inputs Level 2 [Member] | State and local government [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 1,641 1,856
Fair Value Inputs Level 2 [Member] | Foreign government [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 2,010 1,936
Fair Value Inputs Level 2 [Member] | Corporate [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 14,122 13,105
Fair Value Inputs Level 2 [Member] | Mortgage-backed [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 48 84
Fair Value Inputs Level 2 [Member] | Other asset-backed [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 198 234
Fair Value Inputs Level 3 [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 657 [1] 814 [2]
Equity securities 69 43
Subtotal 726 857
Short-term investments 0 0
Total financial assets at fair value, excluding separate accounts 1,633 1,810
Financial liabilities at fair value:    
Total financial liabilities at fair value 885 929
Fair Value Inputs Level 3 [Member] | Run-off Settlement Annuity Business [Member] | Fair Value, Measurements, Recurring [Member]    
Financial liabilities at fair value:    
Net appreciation required to adjust future policy benefits for run-off settlement annuity business included in fixed maturities 30 65
Fair Value Inputs Level 3 [Member] | Other derivatives [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Derivative assets 0 [3] 0 [4]
Financial liabilities at fair value:    
Derivative liabilities   0
Fair Value Inputs Level 3 [Member] | Guaranteed Minimum Income Benefit [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Derivative assets 907 [5] 953 [6]
Financial liabilities at fair value:    
Derivative liabilities 885 929
Fair Value Inputs Level 3 [Member] | Federal government and agency [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 0 0
Fair Value Inputs Level 3 [Member] | State and local government [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 0 0
Fair Value Inputs Level 3 [Member] | Foreign government [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 4 4
Fair Value Inputs Level 3 [Member] | Corporate [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 326 393
Fair Value Inputs Level 3 [Member] | Mortgage-backed [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities 1 1
Fair Value Inputs Level 3 [Member] | Other asset-backed [Member] | Fair Value, Measurements, Recurring [Member]    
Financial assets at fair value:    
Fixed maturities $ 326 $ 416
[1] Fixed maturities included $483 million of net cumulative appreciation required to adjust future policy benefits for the run-off settlement annuity business including $30 million of appreciation for securities classified in Level 3. See Note 11 for additional information.
[2] Fixed maturities included $756 million of net cumulative appreciation required to adjust future policy benefits for the run-off settlement annuity business including $65 million of appreciation for securities classified in Level 3. See Note 11 for additional information.
[3] Other derivative assets included $15 million of interest rate and foreign currency swaps qualifying as cash flow hedges and $1 million of interest rate swaps qualifying as fair value hedges. See Note 12 for additional information.
[4] Other derivative assets included $5 million of interest rate and foreign currency swaps qualifying as cash flow hedges and $1 million of interest rate swaps qualifying as fair value hedges. See Note 12 for additional information.
[5] The GMIB assets represented retrocessional contracts in place from three external reinsurers that cover the exposures on these contracts.
[6] The GMIB assets represented retrocessional contracts in place from three external reinsurers that cover the exposures on these contracts.