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Investment Holding Level 3 (Tables)
6 Months Ended
Jun. 30, 2017
Schedule of Investments [Abstract]  
Mortgage Loans on Real Estate, by Loan Disclosure [Text Block]
Mortgage Loans
Mortgage Loan Valuation Allowances
Commercial mortgage loans are considered to be impaired when management estimates that, based upon current information and events, it is probable that the Company will be unable to collect amounts due according to the contractual terms of the loan agreement. The Company reviews mortgage loans on a quarterly basis to identify potential credit losses. Among other factors, management reviews current and projected macroeconomic trends, such as unemployment rates and property-specific factors such as rental rates, occupancy levels, LTV ratios and debt service coverage ratios (“DSCR”). In addition, the Company considers historical, current and projected delinquency rates and property values. Estimates of collectibility require the use of significant management judgment and include the probability and timing of borrower default and loss severity estimates. In addition, cash flow projections may change based upon new information about the borrower's ability to pay and/or the value of underlying collateral such as changes in projected property value estimates.
For mortgage loans that are deemed impaired, a valuation allowance is established for the difference between the carrying amount and estimated fair value. The mortgage loan's estimated fair value is most frequently the Company's share of the fair value of the collateral but may also be the Company’s share of either (a) the present value of the expected future cash flows discounted at the loan’s effective interest rate or (b) the loan’s observable market price. A valuation allowance may be recorded for an individual loan or for a group of loans that have an LTV ratio of 90% or greater, a low DSCR or have other lower credit quality characteristics. Changes in valuation allowances are recorded in net realized capital gains and losses. Interest income on impaired loans is accrued to the extent it is deemed collectible and the borrowers continue to make payments under the original or restructured loan terms. The Company stops accruing interest income on loans when it is probable that the Company will not receive interest and principal payments according to the contractual terms of the loan agreement. The Company resumes accruing interest income when it determines that sufficient collateral exists to satisfy the full amount of the loan principal and interest payments and when it is probable cash will be received in the foreseeable future. Interest income on defaulted loans is recognized when received.
Realized Gain (Loss) on Investments [Table Text Block]
Net Realized Capital Gains (Losses)
 
Three Months Ended June 30,
Six Months Ended June 30,
(Before tax)
2017
2016
2017
2016
Gross gains on sales
$
140

$
124

$
252

$
214

Gross losses on sales
(31
)
(25
)
(106
)
(133
)
Net OTTI losses recognized in earnings
(14
)
(7
)
(15
)
(30
)
Valuation allowances on mortgage loans
2


2


Results of variable annuity hedge program
 

 


GMWB derivatives, net
20

3

38

(14
)
Macro hedge program
(38
)
(20
)
(124
)
(34
)
Total results of variable annuity hedge program
(18
)
(17
)
(86
)
(48
)
Transactional foreign currency revaluation
13

(87
)

(131
)
Non-qualifying foreign currency derivatives
(17
)
82

(6
)
121

Other, net [1]

(17
)
14

(95
)
Net realized capital gains (losses)
$
75

$
53

$
55

$
(102
)

[1]
Includes non-qualifying derivatives, excluding variable annuity hedge program and foreign currency derivatives, of $(5) and $(23), respectively for the three months ended June 30, 2017 and 2016. For the six months ended June 30, 2017 and 2016, the non-qualifying derivatives, excluding variable annuity hedge program and foreign currency derivatives were $5 and $(60), respectively.
Net realized capital gains and losses from investment sales are reported as a component of revenues and are determined on a specific identification basis. Before tax, net gains (and losses) on sales and impairments previously reported as unrealized gains (or losses) in AOCI were $95 and $131 for the three and six months ended June 30, 2017, and $92 and $51 for the three and six months ended June 30, 2016. Proceeds from sales of AFS securities totaled $6.3 billion and $13.0 billion for the three and six months ended June 30, 2017, and $4.1 billion and $9.0 billion for the three and six months ended June 30, 2016.
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block]
Impairments in Earnings by Type
 
Three Months Ended June 30,
Six Months Ended June 30,
 
2017
2016
2017
2016
Credit impairments
$
13

$
5

$
14

$
23

Intent-to-sell impairments

1


3

Impairments on equity securities
1

1

1

4

Total impairments
$
14

$
7

$
15

$
30

Cumulative Credit Impairments
 
Three Months Ended June 30,
Six Months Ended June 30,
(Before tax)
2017
2016
2017
2016
Balance as of beginning of period
$
(260
)
$
(336
)
$
(280
)
$
(324
)
Additions for credit impairments recognized on [1]:
 
 
 
 
Securities not previously impaired

(4
)
(1
)
(21
)
Securities previously impaired
(13
)
(1
)
(13
)
(2
)
Reductions for credit impairments previously recognized on:
 
 
 
 
Securities that matured or were sold during the period
29

35

41

36

Securities due to an increase in expected cash flows
8

13

17

18

Balance as of end of period
$
(236
)
$
(293
)
$
(236
)
$
(293
)
[1]
These additions are included in the net OTTI losses recognized in earnings in the Condensed Consolidated Statements of Operations.
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
Available-for-Sale Securities
AFS Securities by Type
 
June 30, 2017
December 31, 2016
 
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Non-Credit
OTTI [1]
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Non-Credit
OTTI [1]
ABS
$
2,350

$
21

$
(17
)
$
2,354

$

$
2,396

$
17

$
(31
)
$
2,382

$

CDOs
2,427

33

(3
)
2,457


1,853

67

(4
)
1,916


CMBS
5,085

127

(39
)
5,173

(7
)
4,907

97

(68
)
4,936

(6
)
Corporate
24,307

1,842

(105
)
26,044


24,380

1,510

(224
)
25,666


Foreign govt./govt. agencies
1,249

56

(8
)
1,297


1,164

33

(26
)
1,171


Municipal
11,461

852

(29
)
12,284


10,825

732

(71
)
11,486


RMBS
4,131

95

(7
)
4,219


4,738

66

(37
)
4,767


U.S. Treasuries
3,790

235

(19
)
4,006


3,542

182

(45
)
3,679


Total fixed maturities, AFS
$
54,800

$
3,261

$
(227
)
$
57,834

$
(7
)
$
53,805

$
2,704

$
(506
)
$
56,003

$
(6
)
Equity securities, AFS
964

111

(20
)
1,055


1,020

96

(19
)
1,097


Total AFS securities
$
55,764

$
3,372

$
(247
)
$
58,889

$
(7
)
$
54,825

$
2,800

$
(525
)
$
57,100

$
(6
)
[1]
Represents the amount of cumulative non-credit OTTI losses recognized in OCI on securities that also had credit impairments. These losses are included in gross unrealized losses as of June 30, 2017, and December 31, 2016.
Fixed maturities, AFS, by Contractual Maturity Year
 
June 30, 2017
December 31, 2016

Amortized Cost
Fair Value
Amortized Cost
Fair Value
One year or less
$
2,113

$
2,132

$
1,896

$
1,912

Over one year through five years
8,954

9,224

9,015

9,289

Over five years through ten years
9,282

9,627

9,038

9,245

Over ten years
20,458

22,648

19,962

21,556

Subtotal
40,807

43,631

39,911

42,002

Mortgage-backed and asset-backed securities
13,993

14,203

13,894

14,001

Total fixed maturities, AFS
$
54,800

$
57,834

$
53,805

$
56,003


Investments Classified by Contractual Maturity Date [Table Text Block]
Fixed maturities, AFS, by Contractual Maturity Year
 
June 30, 2017
December 31, 2016

Amortized Cost
Fair Value
Amortized Cost
Fair Value
One year or less
$
2,113

$
2,132

$
1,896

$
1,912

Over one year through five years
8,954

9,224

9,015

9,289

Over five years through ten years
9,282

9,627

9,038

9,245

Over ten years
20,458

22,648

19,962

21,556

Subtotal
40,807

43,631

39,911

42,002

Mortgage-backed and asset-backed securities
13,993

14,203

13,894

14,001

Total fixed maturities, AFS
$
54,800

$
57,834

$
53,805

$
56,003


Estimated maturities may differ from contractual maturities due to security call or prepayment provisions. Due to the potential for variability in payment speeds (i.e. prepayments or extensions), mortgage-backed and asset-backed securities are not categorized by contractual maturity.
Schedule of Unrealized Loss on Investments [Table Text Block]
Unrealized Loss Aging for AFS Securities by Type and Length of Time as of June 30, 2017
 
Less Than 12 Months
12 Months or More
Total
 
Amortized Cost
Fair Value
Unrealized Losses
Amortized Cost
Fair Value
Unrealized Losses
Amortized Cost
Fair Value
Unrealized Losses
ABS
$
637

$
636

$
(1
)
$
229

$
213

$
(16
)
$
866

$
849

$
(17
)
CDOs
1,432

1,430

(2
)
184

183

(1
)
1,616

1,613

(3
)
CMBS
1,438

1,412

(26
)
157

144

(13
)
1,595

1,556

(39
)
Corporate
3,442

3,381

(61
)
1,085

1,041

(44
)
4,527

4,422

(105
)
Foreign govt./govt. agencies
270

266

(4
)
53

49

(4
)
323

315

(8
)
Municipal
960

932

(28
)
8

7

(1
)
968

939

(29
)
RMBS
635

630

(5
)
156

154

(2
)
791

784

(7
)
U.S. Treasuries
1,744

1,725

(19
)



1,744

1,725

(19
)
Total fixed maturities, AFS
$
10,558

$
10,412

$
(146
)
$
1,872

$
1,791

$
(81
)
$
12,430

$
12,203

$
(227
)
Equity securities, AFS
190

173

(17
)
25

22

(3
)
215

195

(20
)
Total securities in an unrealized loss position
$
10,748

$
10,585

$
(163
)
$
1,897

$
1,813

$
(84
)
$
12,645

$
12,398

$
(247
)
Unrealized Loss Aging for AFS Securities by Type and Length of Time as of December 31, 2016
 
Less Than 12 Months
12 Months or More
Total
 
Amortized Cost
Fair Value
Unrealized Losses
Amortized Cost
Fair Value
Unrealized Losses
Amortized Cost
Fair Value
Unrealized Losses
ABS
$
582

$
579

$
(3
)
$
368

$
340

$
(28
)
$
950

$
919

$
(31
)
CDOs
641

640

(1
)
370

367

(3
)
1,011

1,007

(4
)
CMBS
2,076

2,027

(49
)
293

274

(19
)
2,369

2,301

(68
)
Corporate
5,418

5,248

(170
)
835

781

(54
)
6,253

6,029

(224
)
Foreign govt./govt. agencies
573

550

(23
)
27

24

(3
)
600

574

(26
)
Municipal
1,567

1,498

(69
)
43

41

(2
)
1,610

1,539

(71
)
RMBS
1,655

1,624

(31
)
591

585

(6
)
2,246

2,209

(37
)
U.S. Treasuries
1,432

1,387

(45
)



1,432

1,387

(45
)
Total fixed maturities, AFS
$
13,944

$
13,553

$
(391
)
$
2,527

$
2,412

$
(115
)
$
16,471

$
15,965

$
(506
)
Equity securities, AFS
330

315

(15
)
38

34

(4
)
368

349

(19
)
Total securities in an unrealized loss position
$
14,274

$
13,868

$
(406
)
$
2,565

$
2,446

$
(119
)
$
16,839

$
16,314

$
(525
)
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
Mortgage Loans by Property Type
 
June 30, 2017
December 31, 2016
 
Carrying Value
Percent of Total
Carrying
Value
Percent of Total
Commercial
 
 
 
 
Agricultural
$
4

0.1
%
$
16

0.3
%
Industrial
1,439

24.8
%
1,468

25.7
%
Lodging
25

0.4
%
25

0.4
%
Multifamily
1,504

25.9
%
1,365

24.0
%
Office
1,389

24.0
%
1,361

23.9
%
Retail
1,000

17.3
%
1,036

18.2
%
Other
435

7.5
%
426

7.5
%
Total mortgage loans
$
5,796

100.0
%
$
5,697

100.0
%
Commercial Mortgage Loans Credit Quality
 
June 30, 2017
December 31, 2016
Loan-to-value
Carrying Value
Avg. Debt-Service Coverage Ratio
Carrying Value
Avg. Debt-Service Coverage Ratio
Greater than 80%
$
5

1.36x
$
20

0.59x
65% - 80%
416

2.23x
568

2.17x
Less than 65%
5,375

2.73x
5,109

2.78x
Total commercial mortgage loans
$
5,796

2.69x
$
5,697

2.70x
The following table presents the activity within the Company’s valuation allowance for mortgage loans. These loans have been evaluated both individually and collectively for impairment. Loans evaluated collectively for impairment are immaterial.
Valuation Allowance Activity
 
2017
2016
Balance, as of January 1
$
(19
)
$
(23
)
(Additions)/Reversals
(1
)

Deductions
19

4

Balance, as of June 30
$
(1
)
$
(19
)
Mortgage Loans by Region
 
June 30, 2017
December 31, 2016
 
Carrying Value
Percent of Total
Carrying Value
Percent of Total
East North Central
$
293

5.1
%
$
293

5.1
%
East South Central
14

0.2
%
14

0.2
%
Middle Atlantic
544

9.4
%
534

9.4
%
Mountain
76

1.3
%
61

1.1
%
New England
388

6.7
%
345

6.1
%
Pacific
1,671

28.8
%
1,609

28.3
%
South Atlantic
1,265

21.8
%
1,198

21.0
%
West North Central
40

0.7
%
40

0.7
%
West South Central
347

6.0
%
338

5.9
%
Other [1]
1,158

20.0
%
1,265

22.2
%
Total mortgage loans
$
5,796

100.0
%
$
5,697

100.0
%
[1]
Primarily represents loans collateralized by multiple properties in various regions.
Consolidation, Variable Interest Entity, Policy [Policy Text Block]
Variable Interest Entities
The Company is engaged with various special purpose entities and other entities that are deemed to be VIEs primarily as an investor through normal investment activities but also as an investment manager and previously as a means of accessing capital through a contingent capital facility ("facility").
A VIE is an entity that either has investors that lack certain essential characteristics of a controlling financial interest, such as simple majority kick-out rights, or lacks sufficient funds to finance its own activities without financial support provided by other entities. The Company performs ongoing qualitative assessments of its VIEs to determine whether the Company has a controlling financial interest in the VIE and therefore is the primary beneficiary. The Company is deemed to have a controlling financial interest when it has both the ability to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. Based on the Company’s assessment, if it determines it is the primary beneficiary, the Company consolidates the VIE in the Company’s Condensed Consolidated Financial Statements.
Schedule of Variable Interest Entities [Table Text Block]
Consolidated VIEs
As of June 30, 2017, the Company did not hold any securities for which it is the primary beneficiary. As of December 31, 2016, the Company held one CDO for which it was the primary beneficiary. The CDO represented a structured investment vehicle for which the Company had a controlling financial interest. As of December 31, 2016 the Company held total CDO assets of $5 included in cash with an associated liability of $5 included in other liabilities on the Company's Condensed Consolidated Balance Sheets. The Company did not have any additional exposure to loss associated with this investment.
Schedule of Participating Mortgage Loans [Table Text Block]
Valuation Allowance Activity
 
2017
2016
Balance, as of January 1
$
(19
)
$
(23
)
(Additions)/Reversals
(1
)

Deductions
19

4

Balance, as of June 30
$
(1
)
$
(19
)