XML 63 R53.htm IDEA: XBRL DOCUMENT v3.8.0.1
SIGNIFICANT ACCOUNTING POLICIES - ASSUMPTION UPDATES (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Jun. 30, 2016
Change in Accounting Estimate [Line Items]        
Policyholders’ benefits $ 2,745 $ 2,457 $ 3,708  
Amortization of deferred policy acquisition costs, net 881 361    
Income (loss) from operations, before income taxes 385 1,042 4,227  
Face value amount threshold for rate increase 1      
Net income (loss) 553 $ 1,065 3,187  
Mean (RTM) assumption   9.00%   7.00%
Increase (decrease) in the fair value of the reinsurance contract asset (269) $ (140) $ 3,967  
2016 Assumption Updates        
Change in Accounting Estimate [Line Items]        
Policyholders’ benefits (135)      
Amortization of deferred policy acquisition costs, net 417      
Fees and commissions 35      
Income (loss) from operations, before income taxes (247)      
Net income (loss) $ (161)      
Increase in Cost of Insurance        
Change in Accounting Estimate [Line Items]        
Income (loss) from operations, before income taxes   71    
Net income (loss)   46    
Long-term Lapses, Partial Withdrawal Rates and Election Assumptions Updates | GMIB        
Change in Accounting Estimate [Line Items]        
Policyholders’ benefits   (864)    
Amortization of deferred policy acquisition costs, net   (32)    
Income (loss) from operations, before income taxes   (636)    
Net income (loss)   (413)    
Increase (decrease) in the fair value of the reinsurance contract asset   (746)    
Increase (decrease) in fair value of policy liability   786    
Update RTM Assumptions        
Change in Accounting Estimate [Line Items]        
Income (loss) from operations, before income taxes   (527)    
Net income (loss)   $ (342)    
Mean (RTM) assumption   7.00% 9.00%  
Update RTM Assumptions | GMIB        
Change in Accounting Estimate [Line Items]        
Policyholders’ benefits   $ 570    
Amortization of deferred policy acquisition costs, net   (73)    
Update RTM Assumptions | Variable and Interest Sensitive Life        
Change in Accounting Estimate [Line Items]        
Policyholders’ benefits   29    
Long Term Lapse Assumption | GMIB        
Change in Accounting Estimate [Line Items]        
Policyholders’ benefits   (53)    
Amortization of deferred policy acquisition costs, net   (12)    
Income (loss) from operations, before income taxes   (74)    
Net income (loss)   (48)    
Increase (decrease) in the fair value of the reinsurance contract asset   (216)    
Increase (decrease) in fair value of policy liability   101    
Impact of Lump Sum Payment Option        
Change in Accounting Estimate [Line Items]        
Income (loss) from operations, before income taxes   (103)    
Net income (loss)   (67)    
Impact of Lump Sum Payment Option | GMIB        
Change in Accounting Estimate [Line Items]        
Policyholders’ benefits   (47)    
Increase (decrease) in the fair value of the reinsurance contract asset   (263)    
Increase (decrease) in fair value of policy liability   $ (320)    
Lapse Assumptions Updates        
Change in Accounting Estimate [Line Items]        
Income (loss) from operations, before income taxes     $ 13  
Net income (loss)     9  
Lapse Assumptions Updates | GMIB        
Change in Accounting Estimate [Line Items]        
Policyholders’ benefits     15  
Increase (decrease) in the fair value of the reinsurance contract asset     62  
Increase (decrease) in fair value of policy liability     33  
Risk Free Bond and Equity Components Update        
Change in Accounting Estimate [Line Items]        
Income (loss) from operations, before income taxes     473  
Net income (loss)     307  
Risk Free Bond and Equity Components Update | GMIB        
Change in Accounting Estimate [Line Items]        
Increase (decrease) in the fair value of the reinsurance contract asset     510  
Increase (decrease) in fair value of policy liability     $ 37