Level 3 (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following tables present assets and (liabilities) carried at fair value by hierarchy level. These disclosures provide information as to the extent to which the Company uses fair value to measure financial instruments and information about the inputs used to value those financial instruments to allow users to assess the relative reliability of the measurements. The following table presents assets and (liabilities) carried at fair value by hierarchy level.

	December 31, 2014
	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a recurring basis
Fixed maturities, AFS
Asset backed securities ("ABS")	$	2,472		$	—	$	2,350		$	122
Collateralized debt obligations ("CDOs")	2,841			—		2,218			623
Commercial mortgage-backed securities ("CMBS")	4,415			—		4,131			284
Corporate	27,359			—		26,319			1,040
Foreign government/government agencies	1,636			—		1,577			59
States, municipalities and political subdivisions (“Municipal”)	12,871			—		12,805			66
Residential mortgage-backed securities ("RMBS")	3,918			—		2,637			1,281
U.S. Treasuries	3,872			106		3,766			—
Total fixed maturities	59,384			106		55,803			3,475
Fixed maturities, FVO	488			—		396			92
Equity securities, trading	11			11		—			—
Equity securities, AFS	1,047			786		163			98
Derivative assets
Credit derivatives	8			—		10			(2		)
Equity derivatives	3			—		—			3
Interest rate derivatives	129			—		113			16
GMWB hedging instruments	119			—		5			114
Macro hedge program	93			—		—			93
Other derivative contracts	12			—		—			12
Total derivative assets [1]	364			—		128			236
Short-term investments	4,883			349		4,534			—
Limited partnerships and other alternative investments [2]	770			—		581			189
Reinsurance recoverable for GMWB	56			—		—			56
Modified coinsurance reinsurance contracts	34			—		34			—
Separate account assets [3]	132,211			91,537		40,096			578
Total assets accounted for at fair value on a recurring basis	$	199,248		$	92,789	$	101,735		$	4,724
Liabilities accounted for at fair value on a recurring basis
Other policyholder funds and benefits payable
GMWB	$	(139	)	$	—	$	—		$	(139	)
Equity linked notes	(26		)	—		—			(26		)
Total other policyholder funds and benefits payable	(165		)	—		—			(165		)
Derivative liabilities
Credit derivatives	(16		)	—		(9		)	(7		)
Equity derivatives	28			—		25			3
Foreign exchange derivatives	(445		)	—		(445		)	—
Interest rate derivatives	(597		)	—		(574		)	(23		)
GMWB hedging instruments	55			—		(1		)	56
Macro hedge program	48			—		—			48
Total derivative liabilities [4]	(927		)	—		(1,004		)	77
Consumer notes [5]	(3		)	—		—			(3		)
Total liabilities accounted for at fair value on a recurring basis	$	(1,095	)	$	—	$	(1,004	)	$	(91	)

	December 31, 2013
	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets accounted for at fair value on a recurring basis
Fixed maturities, AFS
ABS	$	2,365		$	—	$	2,218		$	147
CDOs	2,387			—		1,723			664
CMBS	4,446			—		3,783			663
Corporate	28,490			—		27,216			1,274
Foreign government/government agencies	4,104			—		4,039			65
Municipal	12,173			—		12,104			69
RMBS	4,647			—		3,375			1,272
U.S. Treasuries	3,745			1,311		2,434			—
Total fixed maturities	62,357			1,311		56,892			4,154
Fixed maturities, FVO	844			—		651			193
Equity securities, trading	19,745			12		19,733			—
Equity securities, AFS	868			454		337			77
Derivative assets
Credit derivatives	25			—		20			5
Foreign exchange derivatives	14			—		14			—
Interest rate derivatives	(21		)	—		(63		)	42
GMWB hedging instruments	26			—		(42		)	68
Macro hedge program	109			—		—			109
International program hedging instruments	272			—		241			31
Other derivative contracts	17			—		—			17
Total derivative assets [1]	442			—		170			272
Short-term investments	4,008			427		3,581			—
Limited partnerships and other alternative investments [2]	921			—		813			108
Reinsurance recoverable for GMWB	29			—		—			29
Modified coinsurance reinsurance contracts	67			—		67			—
Separate account assets [3]	138,495			99,930		37,828			737
Total assets accounted for at fair value on a recurring basis	$	227,776		$	102,134	$	120,072		$	5,570
Liabilities accounted for at fair value on a recurring basis
Other policyholder funds and benefits payable
U.S. GMWB	$	(36	)	$	—	$	—		$	(36	)
International GMWB	3			—		—			3
International other guaranteed living benefits	3			—		—			3
Equity linked notes	(18		)	—		—			(18		)
Total other policyholder funds and benefits payable	(48		)	—		—			(48		)
Derivative liabilities
Credit derivatives	(12		)	—		(9		)	(3		)
Equity derivatives	19			—		16			3
Foreign exchange derivatives	(388		)	—		(388		)	—
Interest rate derivatives	(582		)	—		(558		)	(24		)
GMWB hedging instruments	15			—		(63		)	78
Macro hedge program	30			—		—			30
International program hedging instruments	(305		)	—		(245		)	(60		)
Total derivative liabilities [4]	(1,223		)	—		(1,247		)	24
Consumer notes [5]	(2		)	—		—			(2		)
Total liabilities accounted for at fair value on a recurring basis	$	(1,273	)	$	—	$	(1,247	)	$	(26	)

[1] Includes OTC and OTC-cleared derivative instruments in a net asset value position after consideration of the impact of collateral posting requirements which may be imposed by agreements, clearinghouse rules, and applicable law. As of December 31, 2014 and 2013, $413 and $128, respectively, of cash collateral liability was netted against the derivative asset value in the Consolidated Balance Sheets and is excluded from the table above. See footnote 4 below for derivative liabilities.

[2] Represents hedge funds where investment company accounting has been applied to a wholly-owned fund of funds measured at fair value.

[3] Approximately $2.5 billion and $2.4 billion of investment sales receivable, as of December 31, 2014 and 2013, respectively, are excluded from this disclosure requirement because they are trade receivables in the ordinary course of business where the carrying amount approximates fair value.

[4] Includes OTC and OTC-cleared derivative instruments in a net negative market value position (derivative liability) after consideration of the impact of collateral posting requirements which may be imposed by agreements, clearing house rules and applicable law. In the Level 3 roll-forward table included below in this Note 5, the derivative assets and liabilities are referred to as “freestanding derivatives” and are presented on a net basis.

[5] Represents embedded derivatives associated with non-funding agreement-backed consumer equity linked notes.

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

	As of December 31, 2014
Securities					Unobservable Inputs
Assets accounted for at fair value on a recurring basis	Fair Value		Predominant Valuation Method	Significant Unobservable Input	Minimum	Maximum	Weighted Average [1]	Impact of Increase in Input on Fair Value [2]
CMBS	$	284	Discounted cash flows	Spread (encompasses prepayment, default risk and loss severity)	46 bps	2,475 bps	284 bps	Decrease
Corporate [3]	568		Discounted cash flows	Spread	123 bps	765 bps	279 bps	Decrease
Municipal [3]	32		Discounted cash flows	Spread	212 bps	212 bps	212 bps	Decrease
RMBS	1,281		Discounted cash flows	Spread	23 bps	1,904 bps	142 bps	Decrease
				Constant prepayment rate	—%	7.0%	2.0%	Decrease [4]
				Constant default rate	1.0%	14.0%	7.0%	Decrease
				Loss severity	—%	100.0%	78.0%	Decrease

	As of December 31, 2013
Securities					Unobservable Inputs
Assets accounted for at fair value on a recurring basis	Fair Value		Predominant Valuation Method	Significant Unobservable Input	Minimum	Maximum	Weighted Average [1]	Impact of Increase in Input on Fair Value [2]
CMBS	$	663	Discounted cash flows	Spread (encompasses prepayment, default risk and loss severity)	99 bps	3,000 bps	527 bps	Decrease
Corporate [3]	665		Discounted cash flows	Spread	119 bps	5,594 bps	344 bps	Decrease
Municipal [3]	29		Discounted cash flows	Spread	184 bps	184 bps	184 bps	Decrease
RMBS	1,272		Discounted cash flows	Spread	62 bps	1,748 bps	232 bps	Decrease
				Constant prepayment rate	—%	10.0%	3.0%	Decrease [4]
				Constant default rate	1.0%	22.0%	8.0%	Decrease
				Loss severity	—%	100.0%	80.0%	Decrease

[1] The weighted average is determined based on the fair value of the securities.

[2] Conversely, the impact of a decrease in input would have the opposite impact to the fair value as that presented in the table above.

[3] Level 3 corporate and municipal securities excludes those for which the Company bases fair value on broker quotations as discussed below.

[4] Decrease for above market rate coupons and increase for below market rate coupons.

Fair Value Inputs Derivative Instruments Information [Table Text Block]

	As of December 31, 2014
Freestanding Derivatives					Unobservable Inputs
	Fair Value		Predominant Valuation Method	Significant Unobservable Input	Minimum		Maximum		Impact of Increase in Input on Fair Value [1]
Interest rate derivative
Interest rate swaps	(29	)	Discounted cash flows	Swap curve beyond 30 years	3	%	3	%	Decrease
Interest rate swaptions	22		Option model	Interest rate volatility	1	%	1	%	Increase
GMWB hedging instruments
Equity options	46		Option model	Equity volatility	22	%	34	%	Increase
Customized swaps	124		Discounted cash flows	Equity volatility	10	%	40	%	Increase
Macro hedge program
Equity options	141		Option model	Equity volatility	27	%	28	%	Increase

	As of December 31, 2013
Freestanding Derivatives					Unobservable Inputs
	Fair Value		Predominant Valuation Method	Significant Unobservable Input	Minimum		Maximum		Impact of Increase in Input on Fair Value [1]
Interest rate derivative
Interest rate swaps	(24	)	Discounted cash flows	Swap curve beyond 30 years	4	%	4	%	Increase
Long interest rate swaptions	42		Option model	Interest rate volatility	1	%	1	%	Increase
GMWB hedging instruments
Equity options	72		Option model	Equity volatility	21	%	29	%	Increase
Customized swaps	74		Discounted cash flows	Equity volatility	10	%	50	%	Increase
Macro hedge program
Equity options	139		Option model	Equity volatility	24	%	31	%	Increase
International program hedging [2]
Equity options	(35	)	Option model	Equity volatility	24	%	37	%	Increase
Short interest rate swaptions	(13	)	Option model	Interest rate volatility	—	%	1	%	Decrease
Long interest rate swaptions	50		Option model	Interest rate volatility	1	%	1	%	Increase

[1] Conversely, the impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. Changes are based on long positions, unless otherwise noted. Changes in fair value will be inversely impacted for short positions.

[2] Excludes derivatives for which the Company based fair value on broker quotations.

Fair Value Inputs Living Benefits Information [Table Text Block]

Significant Unobservable Input	Unobservable Inputs (Minimum)	Unobservable Inputs (Maximum)	Impact of Increase in Input on Fair Value Measurement [1]
Withdrawal Utilization [2]	20%	100%	Increase
Withdrawal Rates [3]	—%	8%	Increase
Lapse Rates [4]	—%	75%	Decrease
Reset Elections [5]	20%	75%	Increase
Equity Volatility [6]	10%	40%	Increase

[1] Conversely, the impact of a decrease in input would have the opposite impact to the fair value as that presented in the table.

[2] Range represents assumed cumulative percentages of policyholders taking withdrawals.

[3] Range represents assumed cumulative annual amount withdrawn by policyholders.

[4] Range represents assumed annual percentages of full surrender of the underlying variable annuity contracts across all policy durations for in force business.

[5] Range represents assumed cumulative percentages of policyholders that would elect to reset their guaranteed benefit base.

[6] Range represents implied market volatilities for equity indices based on multiple pricing sources.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	Fixed Maturities, AFS
Assets	ABS			CDOs			CMBS			Corporate			Foreign govt./govt. agencies			Municipal			RMBS			Total Fixed Maturities, AFS			Fixed Maturities, FVO
Fair value as of January 1, 2014	$	147		$	664		$	663		$	1,274		$	65		$	69		$	1,272		$	4,154		$	193
Total realized/unrealized gains (losses)
Included in net income [1], [2], [6]	—			12			28			(24		)	(2		)	—			11			25			19
Included in OCI [3]	3			(4		)	(27		)	10			9			7			12			10			—
Purchases	72			48			126			145			15			16			494			916			16
Settlements	(3		)	(60		)	(253		)	(46		)	(4		)	—			(193		)	(559		)	(136		)
Sales	(18		)	(12		)	(123		)	(205		)	(24		)	(1		)	(260		)	(643		)	(4		)
Transfers into Level 3 [4]	75			72			17			255			—			—			—			419			6
Transfers out of Level 3 [4]	(154		)	(97		)	(147		)	(369		)	—			(25		)	(55		)	(847		)	(2		)
Fair value as of December 31, 2014	$	122		$	623		$	284		$	1,040		$	59		$	66		$	1,281		$	3,475		$	92
Changes in unrealized gains (losses) included in net income related to financial instruments still held at December 31, 2014 [2] [7]	$	—		$	—		$	(3	)	$	(15	)	$	(2	)	$	—		$	(1	)	$	(21	)	$	16

				Freestanding Derivatives [5]
Assets (Liabilities)	Equity Securities, AFS			Credit			Foreign exchange contracts			Equity		Interest Rate			GMWB Hedging			Macro Hedge Program			Intl. Program Hedging			Other Contracts			Total Free- Standing Derivatives [5]
Fair value as of January 1, 2014	$	77		$	2		$	—		$	3	$	18		$	146		$	139		$	(29	)	$	17		$	296
Total realized/unrealized gains (losses)
Included in net income [1], [2], [6]	3			(4		)	2			3		(42		)	13			(12		)	28			(5		)	(17		)
Included in OCI [3]	2			—			—			—		—			—			—			—			—			—
Purchases	30			(7		)	—			—		19			4			14			9			—			39
Settlements	—			—			—			—		—			7			—			(41		)	—			(34		)
Sales	(14		)	—			—			—		—			—			—			—			—			—
Transfers into Level 3 [4]	—			—			(2		)	—		—			—			—			—			—			(2		)
Transfers out of Level 3 [4]	—			—			—			—		(2		)	—			—			33			—			31
Fair value as of December 31, 2014	$	98		$	(9	)	$	—		$	6	$	(7	)	$	170		$	141		$	—		$	12		$	313
Changes in unrealized gains (losses) included in net income related to financial instruments still held at December 31, 2014 [2] [7]	$	(2	)	$	(4	)	$	—		$	1	$	(43	)	$	(1	)	$	(11	)	$	(18	)	$	(3	)	$	(79	)

Assets	Limited Partnerships and Other Alternative Investments			Reinsurance  Recoverable for GMWB		Separate Accounts
Fair value as of January 1, 2014	$	108		$	29	$	737
Total realized/unrealized gains (losses)
Included in net income [1] [2] [6]	1			4		13
Included in OCI [3]	—			—		—
Purchases	130			—		339
Settlements	—			23		(3		)
Sales	(24		)	—		(201		)
Transfers into Level 3 [4]	53			—		37
Transfers out of Level 3 [4]	(79		)	—		(344		)
Fair value as of December 31, 2014	$	189		$	56	$	578
Changes in unrealized gains (losses) included in net income related to financial instruments still held at December 31, 2014 [2] [7]	$	1		$	4	$	8

	Other Policyholder Funds and Benefits Payable
Liabilities	Guaranteed Withdrawal Benefits			International Guaranteed Living Benefits			International Other Living Benefits			Equity Linked Notes			Total Other Policyholder Funds and Benefits Payable			Consumer Notes
Fair value as of January 1, 2014	$	(36	)	$	3		$	3		$	(18	)	$	(48	)	$	(2	)
Total realized/unrealized gains (losses)
Included in net income [1] [2] [6]	(2		)	—			—			(8		)	(10		)	(1		)
Settlements	(101		)	(3		)	(3		)	—			(107		)	—
Fair value as of December 31, 2014	$	(139	)	$	—		$	—		$	(26	)	$	(165	)	$	(3	)
Changes in unrealized gains (losses) included in net income related to financial instruments still held at December 31, 2014 [2] [7]	$	(2	)	$	—		$	—		$	(8	)	$	(10	)	$	(1	)

For the year ended December 31, 2013

	Fixed Maturities, AFS
Assets	ABS			CDOs			CMBS			Corporate			Foreign govt./govt. agencies			Municipal			RMBS			Total Fixed Maturities, AFS			Fixed Maturities, FVO
Fair value as of January 1, 2013	$	278		$	944		$	859		$	2,001		$	56		$	227		$	1,373		$	5,738		$	214
Total realized/unrealized gains (losses)
Included in net income [1], [2], [6]	(9		)	22			(27		)	5			(2		)	2			38			29			59
Included in OCI [3]	31			138			115			(12		)	(9		)	(11		)	52			304			—
Purchases	96			92			50			180			45			21			371			855			19
Settlements	(8		)	(126		)	(142		)	(132		)	(4		)	—			(186		)	(598		)	(3		)
Sales	(139		)	(365		)	(208		)	(403		)	(15		)	(126		)	(375		)	(1,631		)	(94		)
Transfers into Level 3 [4]	3			32			65			149			—			—			—			249			2
Transfers out of Level 3 [4]	(105		)	(73		)	(49		)	(514		)	(6		)	(44		)	(1		)	(792		)	(4		)
Fair value as of December 31, 2013	$	147		$	664		$	663		$	1,274		$	65		$	69		$	1,272		$	4,154		$	193
Changes in unrealized gains (losses) included in net income related to financial instruments still held at December 31, 2013 [2] [7]	$	(7	)	$	—		$	(10	)	$	(9	)	$	—		$	—		$	(1	)	$	(27	)	$	43

				Freestanding Derivatives [5]
Assets (Liabilities)	Equity Securities, AFS			Credit			Equity			Interest Rate			GMWB Hedging			Macro Hedge Program			Intl. Program Hedging			Other Contracts			Total Free- Standing Derivatives [5]
Fair value as of January 1, 2013	$	84		$	4		$	57		$	(32	)	$	519		$	286		$	68		$	23		$	925
Total realized/unrealized gains (losses)
Included in net income [1], [2], [6]	(15		)	—			(37		)	24			(372		)	(191		)	(112		)	(6		)	(694		)
Included in OCI [3]	6			—			—			—			—			—			—			—			—
Purchases	14			—			—			(3		)	—			44			(38		)	—			3
Settlements	—			(2		)	(7		)	3			(4		)	—			(1		)	—			(11		)
Sales	(3		)	—			—			—			—			—			—			—			—
Transfers into Level 3 [4]	—			—			—			—			—			—			(8		)	—			(8		)
Transfers out of Level 3 [4]	(9		)	—			(10		)	26			3			—			62			—			81
Fair value as of December 31, 2013	$	77		$	2		$	3		$	18		$	146		$	139		$	(29	)	$	17		$	296
Changes in unrealized gains (losses) included in net income related to financial instruments still held at December 31, 2013 [2] [7]	$	(15	)	$	(1	)	$	(22	)	$	9		$	(390	)	$	(187	)	$	(382	)	$	(6	)	$	(979	)

Assets	Limited Partnerships and Other Alternative Investments			Reinsurance Recoverable for GMWB			Separate Accounts
Fair value as of January 1, 2013	$	314		$	191		$	583
Total realized/unrealized gains (losses)
Included in net income [1] [2] [6]	(18		)	(192		)	23
Purchases	135			—			250
Settlements	—			30			(2		)
Sales	(22		)	—			(88		)
Transfers into Level 3 [4]	—			—			45
Transfers out of Level 3 [4]	(301		)	—			(74		)
Fair value as of December 31, 2013	$	108		$	29		$	737
Changes in unrealized gains (losses) included in net income related to financial instruments still held at December 31, 2013 [2] [7]	$	(18	)	$	(192	)	$	21

	Other Policyholder Funds and Benefits Payable
Liabilities	Guaranteed Withdrawal Benefits			International Guaranteed Living Benefits			International Other Living Benefits			Equity Linked Notes			Total Other Policyholder Funds and Benefits Payable			Consumer Notes
Fair value as of January 1, 2013	$	(1,249	)	$	(50	)	$	2		$	(7	)	$	(1,304	)	$	(2	)
Total realized/unrealized gains (losses)
Included in net income [1] [2] [6]	1,306			13			3			(10		)	1,312			—
Settlements	(93		)	40			(2		)	(1		)	(56		)	—
Fair value as of December 31, 2013	$	(36	)	$	3		$	3		$	(18	)	$	(48	)	$	(2	)
Changes in unrealized gains (losses) included in net income related to financial instruments still held at December 31, 2013 [2] [7]	$	1,306		$	13		$	3		$	(10	)	$	1,312		$	—

[1] The Company classifies gains and losses on GMWB reinsurance derivatives and GMWB embedded derivatives as unrealized gains (losses) for purposes of disclosure in this table because it is impracticable to track on a contract-by-contract basis the realized gains (losses) for these derivatives and embedded derivatives.

[2] All amounts in these rows are reported in net realized capital gains/losses. The realized/unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on net income for the Company. All amounts are before income taxes and amortization DAC.

[3] All amounts are before income taxes and amortization of DAC.

[4] Transfers in and/or (out) of Level 3 are primarily attributable to the availability of market observable information and the re-evaluation of the observability of pricing inputs.

[5] Derivative instruments are reported in this table on a net basis for asset/(liability) positions and reported in the Consolidated Balance Sheets in other investments and other liabilities.

[6] Includes both market and non-market impacts in deriving realized and unrealized gains (losses).

[7] Amounts presented are for Level 3 only and therefore may not agree to other disclosures included herein.

Fair Value, Option, Quantitative Disclosures [Table Text Block]

The following table presents the changes in fair value of those assets and liabilities accounted for using the fair value option reported in net realized capital gains and losses in the Company’s Consolidated Statements of Operations.

	For the years ended December 31,
	2014			2013
Assets
Fixed maturities, FVO
Corporate	$	(3	)	$	(13	)
CRE CDOs	18			11
Foreign government	—			(4		)
RMBS	(1		)	—
Total fixed maturities, FVO	$	14		$	(6	)
Equity, FVO	(3		)	—
Total realized capital gains (losses)	$	11		$	(6	)

Fair Value, by Balance Sheet Grouping [Table Text Block]

	As of December 31,
	2014		2013
Assets
Fixed maturities, FVO
ABS	$	15	$	3
CRE CDOs	69		183
CMBS	22		8
Corporate	133		92
Foreign government	30		518
U.S. government	2		24
Municipals	2		1
RMBS	215		15
Total fixed maturities, FVO	$	488	$	844
Equity, FVO [1]	$	348	$	—

Financial Instruments not Carried at Fair Value [Table Text Block]

		December 31, 2014				December 31, 2013
	Fair Value Hierarchy Level	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets
Policy loans	Level 3	$	1,431	$	1,431	$	1,420	$	1,480
Mortgage loans	Level 3	5,556		5,840		5,598		5,641
Liabilities
Other policyholder funds and benefits payable [1]	Level 3	$	7,304	$	7,522	$	9,152	$	9,352
Senior notes [2]	Level 2	5,009		5,837		5,206		5,845
Junior subordinated debentures [2]	Level 2	1,100		1,291		1,100		1,271
Revolving credit facility	Level 2	—		—		238		238
Consumer notes [3] [4]	Level 3	68		68		82		82
Assumed investment contracts [4]	Level 3	763		851		—		—

[1] Excludes guarantees on variable annuities, group accident and health and universal life insurance contracts, including corporate owned life insurance.

[2] Included in long-term debt in the Consolidated Balance Sheets, except for current maturities, which are included in short-term debt.

[3] Excludes amounts carried at fair value and included in preceding disclosures.