Level within the fair value hierarchy at which the Company's financial assets and financial liabilities reported at fair value are measured [Table Text Block] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(at December 31, 2015, in millions) |
|
Total |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Invested assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed maturities |
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities |
|
$ |
2,194 |
|
$ |
2,194 |
|
$ |
— |
|
$ |
— |
|
Obligations of states, municipalities and political subdivisions |
|
|
31,411 |
|
|
— |
|
|
31,398 |
|
|
13 |
|
Debt securities issued by foreign governments |
|
|
1,873 |
|
|
— |
|
|
1,873 |
|
|
— |
|
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities |
|
|
1,981 |
|
|
— |
|
|
1,957 |
|
|
24 |
|
All other corporate bonds |
|
|
23,089 |
|
|
— |
|
|
22,915 |
|
|
174 |
|
Redeemable preferred stock |
|
|
110 |
|
|
3 |
|
|
100 |
|
|
7 |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
Total fixed maturities |
|
|
60,658 |
|
|
2,197 |
|
|
58,243 |
|
|
218 |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
Equity securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Public common stock |
|
|
543 |
|
|
543 |
|
|
— |
|
|
— |
|
Non-redeemable preferred stock |
|
|
162 |
|
|
55 |
|
|
107 |
|
|
— |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
Total equity securities |
|
|
705 |
|
|
598 |
|
|
107 |
|
|
— |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
Other investments |
|
|
56 |
|
|
18 |
|
|
— |
|
|
38 |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
Total |
|
$ |
61,419 |
|
$ |
2,813 |
|
$ |
58,350 |
|
$ |
256 |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(at December 31, 2014, in millions) |
|
Total |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Invested assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed maturities |
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities |
|
$ |
2,053 |
|
$ |
2,049 |
|
$ |
4 |
|
$ |
— |
|
Obligations of states, municipalities and political subdivisions |
|
|
33,573 |
|
|
— |
|
|
33,560 |
|
|
13 |
|
Debt securities issued by foreign governments |
|
|
2,368 |
|
|
— |
|
|
2,368 |
|
|
— |
|
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities |
|
|
2,213 |
|
|
— |
|
|
2,203 |
|
|
10 |
|
All other corporate bonds |
|
|
23,135 |
|
|
— |
|
|
22,934 |
|
|
201 |
|
Redeemable preferred stock |
|
|
132 |
|
|
2 |
|
|
122 |
|
|
8 |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
Total fixed maturities |
|
|
63,474 |
|
|
2,051 |
|
|
61,191 |
|
|
232 |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
Equity securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Public common stock |
|
|
691 |
|
|
691 |
|
|
— |
|
|
— |
|
Non-redeemable preferred stock |
|
|
208 |
|
|
82 |
|
|
126 |
|
|
— |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
Total equity securities |
|
|
899 |
|
|
773 |
|
|
126 |
|
|
— |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
Other investments |
|
|
55 |
|
|
19 |
|
|
— |
|
|
36 |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
Total |
|
$ |
64,428 |
|
$ |
2,843 |
|
$ |
61,317 |
|
$ |
268 |
|
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
—‹ |
|
Changes in the Level 3 fair value category [Table Text Block] |
|
|
|
|
|
|
|
|
|
|
|
(in millions) |
|
Fixed
Maturities |
|
Other
Investments |
|
Total |
|
Balance at December 31, 2014 |
|
$ |
232 |
|
$ |
36 |
|
$ |
268 |
|
Total realized and unrealized investment gains (losses): |
|
|
|
|
|
|
|
|
|
|
Reported in net realized investment gains(1) |
|
|
1 |
|
|
2 |
|
|
3 |
|
Reported in increases (decreases) in other comprehensive income |
|
|
(4 |
) |
|
1 |
|
|
(3 |
) |
Purchases, sales and settlements/maturities: |
|
|
|
|
|
|
|
|
|
|
Purchases |
|
|
202 |
|
|
1 |
|
|
203 |
|
Sales |
|
|
(7 |
) |
|
(2 |
) |
|
(9 |
) |
Settlements/maturities |
|
|
(41 |
) |
|
— |
|
|
(41 |
) |
Gross transfers into Level 3 |
|
|
21 |
|
|
— |
|
|
21 |
|
Gross transfers out of Level 3 |
|
|
(186 |
) |
|
— |
|
|
(186 |
) |
|
|
|
|
|
|
|
|
|
|
|
Balance at December 31, 2015 |
|
$ |
218 |
|
$ |
38 |
|
$ |
256 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of total realized investment gains (losses) for the period included in the consolidated statement of income attributable to changes in the fair value of assets still held at the reporting date |
|
$ |
— |
|
$ |
(1 |
) |
$ |
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- (1)
- Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.
|
|
|
|
|
|
|
|
|
|
|
(in millions) |
|
Fixed
Maturities |
|
Other
Investments |
|
Total |
|
Balance at December 31, 2013 |
|
$ |
255 |
|
$ |
34 |
|
$ |
289 |
|
Total realized and unrealized investment gains (losses): |
|
|
|
|
|
|
|
|
|
|
Reported in net realized investment gains(1) |
|
|
3 |
|
|
1 |
|
|
4 |
|
Reported in increases (decreases) in other comprehensive income |
|
|
(2 |
) |
|
1 |
|
|
(1 |
) |
Purchases, sales and settlements/maturities: |
|
|
|
|
|
|
|
|
|
|
Purchases |
|
|
232 |
|
|
1 |
|
|
233 |
|
Sales |
|
|
(1 |
) |
|
(1 |
) |
|
(2 |
) |
Settlements/maturities |
|
|
(90 |
) |
|
— |
|
|
(90 |
) |
Gross transfers into Level 3 |
|
|
18 |
|
|
— |
|
|
18 |
|
Gross transfers out of Level 3 |
|
|
(183 |
) |
|
— |
|
|
(183 |
) |
|
|
|
|
|
|
|
|
|
|
|
Balance at December 31, 2014 |
|
$ |
232 |
|
$ |
36 |
|
$ |
268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of total realized investment gains (losses) for the period included in the consolidated statement of income attributable to changes in the fair value of assets still held at the reporting date |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- (1)
- Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.
|
Carrying value and fair value of financial instruments disclosed, but not carried, at fair value and the level within the fair value hierarchy at which such financial instruments are categorized [Table Text Block] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(at December 31, 2015, in millions) |
|
Carrying
Value |
|
Fair
Value |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Financial assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term securities |
|
$ |
4,671 |
|
$ |
4,671 |
|
$ |
1,685 |
|
$ |
2,958 |
|
$ |
28 |
|
Financial liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
$ |
6,244 |
|
$ |
7,180 |
|
$ |
— |
|
$ |
7,180 |
|
$ |
— |
|
Commercial paper |
|
|
100 |
|
|
100 |
|
|
— |
|
|
100 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(at December 31, 2014, in millions) |
|
Carrying
Value |
|
Fair
Value |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Financial assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term securities |
|
$ |
4,364 |
|
$ |
4,364 |
|
$ |
1,283 |
|
$ |
3,042 |
|
$ |
39 |
|
Financial liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
$ |
6,249 |
|
$ |
7,522 |
|
$ |
— |
|
$ |
7,522 |
|
$ |
— |
|
Commercial paper |
|
|
100 |
|
|
100 |
|
|
— |
|
|
100 |
|
|
— |
|
|