XML 78 R67.htm IDEA: XBRL DOCUMENT v3.7.0.1
FAIR VALUE DISCLOSURES (QUANTITATIVE INFORMATION ABOUT LEVEL 3) (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
Dec. 31, 2015
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value measurements not included In quantitative information about level 3 $ 619   $ 619   $ 594      
Level 3 fair value measurements not included in quantitative information classified as level 3 (as a percent) 35.30%   35.30%   37.50%      
Level 3 fair value measurements not included in quantitative information as a percentage of total assets measured at fair value on a recurring basis (as a percent) 0.40%   0.40%   0.40%      
Corporate | Matrix Pricing Model | Private Available For Sale Corporate Securities                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis $ 820   $ 820   $ 691      
Percentage of level 3 asset fair value (as a percent)     76.80%   81.80%      
Asset-backed Securities | Matrix Pricing Model                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Percentage of level 3 asset fair value (as a percent)     0.00%   8.30%      
Separate Accounts | Mortgage Backed Securities                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 13   $ 13   $ 12      
Separate Accounts | Asset-backed Securities                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 5   5   3      
Separate Accounts | Third Party Appraisal | Mortgage Loans on Real Estate                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 1   1   2      
Separate Accounts | Third Party Appraisal | Private Real Estate Fund                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 314   314   295      
Separate Accounts | Third Party Appraisal | Private Equity Funds                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 0   0   1      
Contingent Payment Arrangement                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 17   $ 17   $ 18      
Fair value inputs, assets under management growth rate (as a percent)         18.00%      
Minimum | Contingent Payment Arrangement                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, discount rate (as a percent)     1.40%          
Fair value inputs, long-term revenue growth rate (as a percent)     4.00%          
Maximum | Contingent Payment Arrangement                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, discount rate (as a percent)     6.40%          
Fair value inputs, long-term revenue growth rate (as a percent)     31.00%          
Level 3 | Gmib Reinsurance | Discounted Cash Flow                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 11,290   $ 11,290   $ 10,309      
Level 3 | Corporate | Matrix Pricing Model                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 46   46   55      
Level 3 | Corporate | Market Comparable Companies                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 774   774   636      
Level 3 | Asset-backed Securities | Matrix Pricing Model                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis         2      
Level 3 | Separate Accounts | Third Party Appraisal                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 314   314   295      
Level 3 | Separate Accounts | Discounted Cash Flow                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 1   1   3      
Level 3 | GMWB and GWBL | Discounted Cash Flow                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 121   121   164      
GWBL and Other Features’ Liability | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 121 $ 330 121 $ 330 164 $ 106 $ 265 $ 184
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Policyholder Benefits (48) 10 (166) 40        
US States and Political Subdivisions Debt Securities [Member] | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) 0 1 0 1        
Fair value, measurement with unobservable inputs reconciliation, recurring basis 42 45 $ 42 45 $ 42 42 45 45
Other Invested Assets | Market Comparable Companies                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, discount rate (as a percent)     0.00%   0.00%      
Other Invested Assets | Minimum | Market Comparable Companies                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, revenue multiple     0   0      
Other Invested Assets | Maximum | Market Comparable Companies                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, revenue multiple     0   0      
GMWB and GWBL | Minimum | Discounted Cash Flow                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, lapse rates (as a percent)     0.50%   1.00%      
Fair value inputs, withdrawal rates (as a percent)     0.00%   0.00%      
Fair value input, expected volatility rate (as a percent)     10.00%   11.00%      
GMWB and GWBL | Maximum | Discounted Cash Flow                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, lapse rates (as a percent)     11.00%   11.00%      
Fair value inputs, withdrawal rates (as a percent)     8.00%   8.00%      
Fair value input, expected volatility rate (as a percent)     30.00%   38.00%      
Gmib Reinsurance | Minimum | Discounted Cash Flow                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, lapse rates (as a percent)     1.00%   1.50%      
Fair value inputs, withdrawal rates (as a percent)     0.00%   0.00%      
Fair value inputs, GIMB utilization rates (as a percent)     0.00%   0.00%      
Fair value inputs, non-performance risk (bps)     4   5      
Fair value input, expected volatility rate (as a percent)     10.00%   11.00%      
Gmib Reinsurance | Maximum | Discounted Cash Flow                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, lapse rates (as a percent)     6.30%   5.70%      
Fair value inputs, withdrawal rates (as a percent)     8.00%   8.00%      
Fair value inputs, GIMB utilization rates (as a percent)     16.00%   16.00%      
Fair value inputs, non-performance risk (bps)     9   17      
Fair value input, expected volatility rate (as a percent)     30.00%   38.00%      
Gmib Reinsurance | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value, measurement with unobservable inputs reconciliation, recurring basis 11,290 13,311 $ 11,290 13,311 $ 10,309 9,795 12,207 10,570
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Reinsurance Contracts 1,446 1,065 906 2,662        
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Policyholder Benefits     $ 0          
Separate Accounts | Third Party Appraisal                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, discount rate (as a percent)     6.60%   6.60%      
Fair value inputs, capitalization rate (as a percent)     4.70%   4.80%      
Fair value inputs, exit capitalization rate (as a percent)     5.70%   5.70%      
Separate Accounts | Discounted Cash Flow                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, spread over industry yield curve (bps)     243          
Fair value inputs, discount rate (as a percent)     4.00%          
Separate Accounts | Minimum | Discounted Cash Flow                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, spread over industry yield curve (bps)         273      
Fair value inputs, discount rate (as a percent)         1.10%      
Fair value inputs, inflation rate (as a percent)     0.00%   0.00%      
Separate Accounts | Maximum | Discounted Cash Flow                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, spread over industry yield curve (bps)         512      
Fair value inputs, discount rate (as a percent)         7.00%      
Separate Accounts | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)     $ 0 0        
Fair value, measurement with unobservable inputs reconciliation, recurring basis 333 307 333 307 $ 313 325 323 313
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Net Investment Gains Losses 8 5 $ 18 13        
Asset-backed Securities | Minimum | Matrix Pricing Model                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, spread over industry yield curve (bps)     0   25      
Asset-backed Securities | Maximum | Matrix Pricing Model                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, spread over industry yield curve (bps)     0   687      
Asset-backed Securities | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) (11) 2 $ (7) 2        
Fair value, measurement with unobservable inputs reconciliation, recurring basis 12 26 12 26 $ 24 31 37 40
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Net Investment Gains Losses 15   $ 15          
Corporate | Minimum | Matrix Pricing Model                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, spread over industry yield curve (bps)     25   0      
Corporate | Minimum | Market Comparable Companies                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, earnings before interest, taxes, depreciation and amortization multiple     5.1   4.3      
Fair value inputs, discount rate (as a percent)     7.20%   7.00%      
Fair value inputs, cash flow multiple     9.0   14.0      
Corporate | Maximum | Matrix Pricing Model                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, spread over industry yield curve (bps)     565   565      
Corporate | Maximum | Market Comparable Companies                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair value inputs, earnings before interest, taxes, depreciation and amortization multiple     27.3   25.6      
Fair value inputs, discount rate (as a percent)     17.80%   17.80%      
Fair value inputs, cash flow multiple     17.7   16.5      
Corporate | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) (51) (1) $ (6) 8        
Fair value, measurement with unobservable inputs reconciliation, recurring basis 1,068 495 1,068 495 $ 845 1,014 498 420
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Net Investment Gains Losses 0 1 0 0        
Commercial Mortgage- backed | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) 7 1 19 (11)        
Fair value, measurement with unobservable inputs reconciliation, recurring basis 290 402 290 402 $ 349 $ 324 $ 448 $ 503
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Net Investment Gains Losses (9) (18) (20) (24)        
Continuing Operations [Member] | GWBL and Other Features’ Liability | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Policyholder Benefits 15 65 (43) 146        
Continuing Operations [Member] | Fixed Maturities, Available-for-Sale [Member] | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) (51) (3) 6 (4)        
Continuing Operations [Member] | US States and Political Subdivisions Debt Securities [Member] | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) 0 1 0 1        
Continuing Operations [Member] | Gmib Reinsurance | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Reinsurance Contracts 1,495 1,104 981 2,733        
Continuing Operations [Member] | Separate Accounts | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Net Investment Gains Losses 8 6 18 13        
Continuing Operations [Member] | Asset-backed Securities | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) (11) 2 (7) 2        
Continuing Operations [Member] | Corporate | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) (45) (2) (4) 9        
Continuing Operations [Member] | Commercial Mortgage- backed | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) 5 (4) 17 (16)        
Continuing Operations [Member] | Total Debt Maturities Available For Sale | Level 3                
Fair Value Inputs Assets Quantitative Information 1 [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) (51) (3) 6 (4)        
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Reinsurance Contracts 1,495 1,104 981 2,733        
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Net Investment Gains Losses 8 6 18 13        
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Policyholder Benefits $ 15 $ 65 $ (43) $ 146