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VALUE OF BUSINESS ACQUIRED (VOBA)
9 Months Ended
Sep. 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 September 30, 2011 and December 31, 2010:

  Gross Accumulated    
  Carrying Amortization    
  Amount and Other(1) Net
          
  (In Millions)
VOBA         
          
September 30, 2011 $ 416 $ (327) $ 89
          
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 third quarter of 2011 amortization expense related to VOBA was $9 million and for the first nine months of 2011 negative amortization expense related to VOBA was $1 million. For the third quarter and first nine months of 2010 amortization expense was $4 million and $22 million, respectively. VOBA amortization is estimated to range between $12 million and $8 million annually through 2015.