VALUE OF BUSINESS ACQUIRED

12 Months Ended

Dec. 31, 2014

Value Of Business Acquired [Abstract]

Value Of Business Acquired

4) VALUE OF BUSINESS ACQUIRED

The following table presents MLOA’s VOBA asset at December 31, 2014 and 2013:

	Gross		Accumulated
	Carrying		Amortization
	Amount		and Other		Net
	(In Millions)
VOBA
December 31, 2014	$	416	$	(409)(1)	$	7
December 31, 2013	$	416	$	(398)(1)	$	18

Includes reactivity to unrealized investment gains (losses) and $117 million of accelerated VOBA amortization resulting from the reinsurance agreement with Protective Life which is included in the deferred cost of reinsurance.

For 2014, 2013 and 2012, amortization (negative amortization) expense related to VOBA was $10 million, $11 million and $(13) million, respectively. VOBA amortization is estimated to range between $0 million and $1 million annually through 2019.