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VALUE OF BUSINESS ACQUIRED (VOBA)
 6 Months Ended
Jun. 30, 2011
Value Of Business Acquired [Abstract]  
Value Of Business Acquired [Text Block]

 

4)        VALUE OF BUSINESS ACQUIRED

 

The following table presents MLOA's VOBA asset as of June 30, 2011 and December 31, 2010:

  Gross Accumulated    
  Carrying Amortization    
  Amount and Other(1) Net
          
  (In Millions)
VOBA         
          
June 30, 2011 $ 416 $ (316) $ 100
          
December 31, 2010 $ 416 $ (309) $ 107

  • Includes reactivity to unrealized investment gains (losses) and the impact of the December 31, 2005 MODCO recapture.

 

For the second quarter of 2011 amortization expense related to VOBA was $4 million and for the first six months of 2011 negative amortization expense related to VOBA was $10 million. For the second quarter and first six months of 2010 amortization expense was $7 million and $18 million, respectively. VOBA amortization is estimated to range between $12 million and $8 million annually through 2015.