Level 3 (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of Participating Mortgage Loans [Table Text Block]

Valuation Allowance Activity
	2018			2017
Balance, as of January 1	$	(1	)	$	—
Reversals	—			—
Deductions	—			—
Balance, as of March 31	$	(1	)	$	—

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

Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the Three Months Ended March 31, 2018
					Total realized/unrealized gains (losses)
		Fair value as of January 1, 2018			Included in net income [1] [5]		Included in OCI [2]			Purchases		Settlements			Sales			Transfers into Level 3 [3]		Transfers out of Level 3 [3]			Fair value as of March 31, 2018
Assets
Fixed Maturities, AFS
	ABS	$	19		$	—	$	—		$	—	$	(2	)	$	—		$	—	$	(3	)	$	14
	CDOs	95			—		—			21		—			—			—		(10		)	106
	CMBS	69			—		(1		)	—		(1		)	—			—		(34		)	33
	Corporate	520			1		(1		)	65		(14		)	(23		)	—		(33		)	515
	Foreign Govt./Govt. Agencies	2			—		—			—		—			—			—		—			2
	Municipal	17			—		(1		)	—		—			—			—		—			16
	RMBS	1,230			—		(3		)	102		(81		)	—			—		(15		)	1,233
Total Fixed Maturities, AFS		1,952			1		(6		)	188		(98		)	(23		)	—		(95		)	1,919
Equity Securities, at fair value		76			28		—			—		—			(39		)	—		—			65
Derivatives, net [4]
	Equity	1			2		—			—		—			(2		)	—		—			1
	Interest rate	1			1		—			—		—			—			—		—			2
Total Derivatives, net [4]		2			3		—			—		—			(2		)	—		—			3
Total Assets		$	2,030		$	32	$	(6	)	$	188	$	(98	)	$	(64	)	$	—	$	(95	)	$	1,987
Liabilities
Contingent Consideration [6]		(29		)	2		—			—		—			—			—		—			(27		)
Total Liabilities		$	(29	)	$	2	$	—		$	—	$	—		$	—		$	—	$	—		$	(27	)

Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the Three Months Ended March 31, 2017
					Total realized/unrealized gains (losses)
		Fair value as of January 1, 2017			Included in net income [1] [5]			Included in OCI [2]			Purchases		Settlements			Sales			Transfers into Level 3 [3]		Transfers out of Level 3 [3]			Fair value as of March 31, 2017
Assets
Fixed Maturities, AFS
	ABS	$	45		$	—		$	—		$	33	$	(3	)	$	—		$	23	$	(17	)	$	81
	CDOs	154			—			3			—		(1		)	—			—		(36		)	120
	CMBS	59			(1		)	—			28		(2		)	—			—		(12		)	72
	Corporate	514			1			5			100		(37		)	(97		)	35		—			521
	Foreign Govt./Govt. Agencies	47			—			2			—		—			—			—		—			49
	Municipal	46			—			3			—		—			(5		)	—		—			44
	RMBS	1,261			—			4			88		(55		)	(7		)	—		—			1,291
Total Fixed Maturities, AFS		2,126			—			17			249		(98		)	(109		)	58		(65		)	2,178
Fixed Maturities, FVO		11			—			—			4		(2		)	(13		)	—		—			—
Equity Securities, AFS		55			—			(2		)	2		—			—			—		—			55
Derivatives, net [4]
	Equity	—			(1		)	—			5		—			—			—		—			4
	Interest rate	9			(4		)	—			—		—			—			—		—			5
	Other contracts	1			(1		)	—			—		—			—			—		—			—
Total Derivatives, net [4]		10			(6		)	—			5		—			—			—		—			9
Total Assets		$	2,202		$	(6	)	$	15		$	260	$	(100	)	$	(122	)	$	58	$	(65	)	$	2,242
Liabilities
Contingent Consideration [6]		(25		)	(1		)	—			—		—			—			—		—			(26		)
Total Liabilities		$	(25	)	$	(1	)	$	—		$	—	$	—		$	—		$	—	$	—		$	(26	)

[1] Amounts in these columns are generally reported in net realized capital gains (losses). All amounts are before income taxes.

[2] All amounts are before income taxes.

[3] 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.

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

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

[6] For additional information, see Note 2 - Business Acquisitions of Notes to Consolidated Financial Statements included in the Company's 2017 form 10-K Annual Report for discussion of the contingent consideration in connection with the acquisition of Lattice.

Changes in Unrealized Gains (Losses) Included in Net Income for Financial Instruments Classified as Level 3 Still Held at End of Period
		Three months ended March 31,
		2018 [1] [2]		2017 [1] [2]
Assets
Fixed Maturities, AFS
	CMBS	$	—	$	(1	)
Total Fixed Maturities, AFS		—		(1		)
Derivatives, net
	Equity	—		(1		)
	Interest rate	1		(3		)
Total Derivatives, net		1		(4		)
Total Assets		$	1	$	(5	)
Liabilities
Contingent Consideration [3]		2		(1		)
Total Liabilities		$	2	$	(1	)

[1] All amounts in these rows are reported in net realized capital gains (losses). All amounts are before income taxes.

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

[3] For additional information, see Note 2 - Business Acquisitions of Notes to Consolidated Financial Statements included in the Company's 2017 form 10-K Annual Report for discussion of the contingent consideration in connection with the acquisition of Lattice.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of March 31, 2018
	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")	$	911		$	—	$	897		$	14
Collateralized debt obligations ("CDOs")	1,144			—		1,038			106
Commercial mortgage-backed securities ("CMBS")	3,311			—		3,278			33
Corporate	12,634			—		12,119			515
Foreign government/government agencies	1,082			—		1,080			2
Municipal	11,544			—		11,528			16
Residential mortgage-backed securities ("RMBS")	3,086			—		1,853			1,233
U.S. Treasuries	2,212			458		1,754			—
Total fixed maturities	35,924			458		33,547			1,919
Fixed maturities, FVO	38			—		38			—
Equity securities, at fair value	1,123			1,009		49			65
Derivative assets
Credit derivatives	11			—		11			—
Equity derivatives	1			—		—			1
Total derivative assets [1]	12			—		11			1
Short-term investments	2,385			874		1,511			—
Total assets accounted for at fair value on a recurring basis	$	39,482		$	2,341	$	35,156		$	1,985
Liabilities accounted for at fair value on a recurring basis
Derivative liabilities
Credit derivatives	1			—		1			—
Foreign exchange derivatives	(21		)	—		(21		)	—
Interest rate derivatives	(66		)	—		(68		)	2
Total derivative liabilities [2]	(86		)	—		(88		)	2
Contingent consideration [3]	(27		)	—		—			(27		)
Total liabilities accounted for at fair value on a recurring basis	$	(113	)	$	—	$	(88	)	$	(25	)

Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of December 31, 2017
	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")	$	1,126		$	—	$	1,107		$	19
Collateralized debt obligations ("CDOs")	1,260			—		1,165			95
Commercial mortgage-backed securities ("CMBS")	3,336			—		3,267			69
Corporate	12,804			—		12,284			520
Foreign government/government agencies	1,110			—		1,108			2
Municipal	12,485			—		12,468			17
Residential mortgage-backed securities ("RMBS")	3,044			—		1,814			1,230
U.S. Treasuries	1,799			333		1,466			—
Total fixed maturities	36,964			333		34,679			1,952
Fixed maturities, FVO	41			—		41			—
Equity securities, AFS	1,012			887		49			76
Derivative assets
Credit derivatives	9			—		9			—
Equity derivatives	1			—		—			1
Foreign exchange derivatives	(1		)	—		(1		)	—
Interest rate derivatives	1			—		1			—
Total derivative assets [1]	10			—		9			1
Short-term investments	2,270			1,098		1,172			—
Total assets accounted for at fair value on a recurring basis	$	40,297		$	2,318	$	35,950		$	2,029
Liabilities accounted for at fair value on a recurring basis
Derivative liabilities
Credit derivatives	(3		)	—		(3		)	—
Foreign exchange derivatives	(13		)	—		(13		)	—
Interest rate derivatives	(84		)	—		(85		)	1
Total derivative liabilities [2]	(100		)	—		(101		)	1
Contingent consideration [3]	(29		)	—		—			(29		)
Total liabilities accounted for at fair value on a recurring basis	$	(129	)	$	—	$	(101	)	$	(28	)

[1] Includes derivative instruments in a net positive fair value position after consideration of the accrued interest and impact of collateral posting requirements which may be imposed by agreements, clearing house rules and applicable law. See footnote 2 to this table for derivative liabilities.

[2] Includes derivative instruments in a net negative fair value position (derivative liability) after consideration of the accrued interest and impact of collateral posting requirements which may be imposed by agreements, clearing house rules and applicable law.

[3] For additional information see the Contingent Consideration section below.

Fair Value Inputs, Assets, Quantitative Information

Significant Unobservable Inputs for Level 3 - Derivatives
	Fair Value		Predominant Valuation  Technique	Significant Unobservable Input	Minimum		Maximum		Impact of  Increase in Input on  Fair Value [1]
As of March 31, 2018
Interest rate swaptions [2]	$	2	Option model	Interest rate volatility	3	%	3	%	Increase
Equity Options	1		Option model	Equity volatility	20	%	27	%	Increase
As of December 31, 2017
Interest rate swaptions [2]	$	1	Option model	Interest rate volatility	2	%	2	%	Increase
Equity options	$	1	Option model	Equity volatility	18	%	22	%	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] The swaptions presented are purchased options that have the right to enter into a pay-fixed swap.

Significant Unobservable Inputs for Level 3 - Securities
Assets accounted for at fair value on a recurring basis	Fair Value		Predominant Valuation Technique	Significant Unobservable Input	Minimum	Maximum	Weighted Average [1]	Impact of Increase in Input on Fair Value [2]
As of March 31, 2018
CMBS [3]	$	21	Discounted cash flows	Spread (encompasses prepayment, default risk and loss severity)	9 bps	1,040 bps	389 bps	Decrease
Corporate [4]	$	277	Discounted cash flows	Spread	112 bps	768 bps	197 bps	Decrease
Municipal	$	16	Discounted cash flows	Spread	199 bps	240 bps	218 bps	Decrease
RMBS [3]	$	1,163	Discounted cash flows	Spread	6 bps	335 bps	69 bps	Decrease
				Constant prepayment rate	1%	25%	7%	Decrease [5]
				Constant default rate	—%	9%	4%	Decrease
				Loss severity	—%	100%	59%	Decrease
As of December 31, 2017
CMBS [3]	$	56	Discounted cash flows	Spread (encompasses prepayment, default risk and loss severity)	9 bps	1,040 bps	400 bps	Decrease
Corporate [4]	$	251	Discounted cash flows	Spread	103 bps	1,000 bps	242 bps	Decrease
Municipal [3]	$	17	Discounted cash flows	Spread	192 bps	250 bps	219 bps	Decrease
RMBS [3]	$	1,215	Discounted cash flows	Spread	24 bps	351 bps	74 bps	Decrease
				Constant prepayment rate	1%	25%	6%	Decrease [5]
				Constant default rate	—%	9%	4%	Decrease
				Loss severity	—%	100%	66%	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.

[3] Excludes securities for which the Company based fair value on broker quotations.

[4] Excludes securities for which the Company bases fair value on broker quotations; however, included are broker priced lower-rated private placement securities for which the Company receives spread and yield information to corroborate the fair value.

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

Valuation Inputs Used in Levels 2 and 3 Measurements for Securities and Derivatives
Level 2 Primary Observable Inputs		Level 3 Primary Unobservable Inputs
Fixed Maturity Investments
Structured securities (includes ABS, CDOs, CMBS and RMBS)
	• Benchmark yields and spreads • Monthly payment information • Collateral performance, which varies by vintage year and includes delinquency rates, loss severity rates and refinancing assumptions • Credit default swap indices Other inputs for ABS and RMBS: • Estimate of future principal prepayments, derived from the characteristics of the underlying structure • Prepayment speeds previously experienced at the interest rate levels projected for the collateral		• Independent broker quotes • Credit spreads beyond observable curve • Interest rates beyond observable curve Other inputs for less liquid securities or those that trade less actively, including subprime RMBS: • Estimated cash flows • Credit spreads, which include illiquidity premium • Constant prepayment rates • Constant default rates • Loss severity
Corporates
	• Benchmark yields and spreads • Reported trades, bids, offers of the same or similar securities • Issuer spreads and credit default swap curves Other inputs for investment grade privately placed securities that utilize internal matrix pricing: • Credit spreads for public securities of similar quality, maturity, and sector, adjusted for non-public nature		• Independent broker quotes • Credit spreads beyond observable curve • Interest rates beyond observable curve Other inputs for below investment grade privately placed securities: • Independent broker quotes • Credit spreads for public securities of similar quality, maturity, and sector, adjusted for non-public nature
U.S Treasuries, Municipals, and Foreign government/government agencies
	• Benchmark yields and spreads • Issuer credit default swap curves • Political events in emerging market economies • Municipal Securities Rulemaking Board reported trades and material event notices • Issuer financial statements		• Credit spreads beyond observable curve • Interest rates beyond observable curve
Equity Securities
	• Quoted prices in markets that are not active		• For privately traded equity securities, internal discounted cash flow models utilizing earnings multiples or other cash flow assumptions that are not observable
Short Term Investments
	• Benchmark yields and spreads • Reported trades, bids, offers • Issuer spreads and credit default swap curves • Material event notices and new issue money market rates		Not applicable
Derivatives
Credit derivatives
	• Swap yield curve • Credit default swap curves		Not applicable
Equity derivatives
	• Equity index levels • Swap yield curve		• Independent broker quotes • Equity volatility
Foreign exchange derivatives
	• Swap yield curve • Currency spot and forward rates • Cross currency basis curves		Not applicable
Interest rate derivatives
	• Swap yield curve		• Independent broker quotes • Interest rate volatility

Fair Value, Assets (Liabilities) Measured on Recurring Basis, Unobservable Input Reconciliation

Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the Three Months Ended March 31, 2018
					Total realized/unrealized gains (losses)
		Fair value as of January 1, 2018			Included in net income [1] [5]		Included in OCI [2]			Purchases		Settlements			Sales			Transfers into Level 3 [3]		Transfers out of Level 3 [3]			Fair value as of March 31, 2018
Assets
Fixed Maturities, AFS
	ABS	$	19		$	—	$	—		$	—	$	(2	)	$	—		$	—	$	(3	)	$	14
	CDOs	95			—		—			21		—			—			—		(10		)	106
	CMBS	69			—		(1		)	—		(1		)	—			—		(34		)	33
	Corporate	520			1		(1		)	65		(14		)	(23		)	—		(33		)	515
	Foreign Govt./Govt. Agencies	2			—		—			—		—			—			—		—			2
	Municipal	17			—		(1		)	—		—			—			—		—			16
	RMBS	1,230			—		(3		)	102		(81		)	—			—		(15		)	1,233
Total Fixed Maturities, AFS		1,952			1		(6		)	188		(98		)	(23		)	—		(95		)	1,919
Equity Securities, at fair value		76			28		—			—		—			(39		)	—		—			65
Derivatives, net [4]
	Equity	1			2		—			—		—			(2		)	—		—			1
	Interest rate	1			1		—			—		—			—			—		—			2
Total Derivatives, net [4]		2			3		—			—		—			(2		)	—		—			3
Total Assets		$	2,030		$	32	$	(6	)	$	188	$	(98	)	$	(64	)	$	—	$	(95	)	$	1,987
Liabilities
Contingent Consideration [6]		(29		)	2		—			—		—			—			—		—			(27		)
Total Liabilities		$	(29	)	$	2	$	—		$	—	$	—		$	—		$	—	$	—		$	(27	)

Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the Three Months Ended March 31, 2017
					Total realized/unrealized gains (losses)
		Fair value as of January 1, 2017			Included in net income [1] [5]			Included in OCI [2]			Purchases		Settlements			Sales			Transfers into Level 3 [3]		Transfers out of Level 3 [3]			Fair value as of March 31, 2017
Assets
Fixed Maturities, AFS
	ABS	$	45		$	—		$	—		$	33	$	(3	)	$	—		$	23	$	(17	)	$	81
	CDOs	154			—			3			—		(1		)	—			—		(36		)	120
	CMBS	59			(1		)	—			28		(2		)	—			—		(12		)	72
	Corporate	514			1			5			100		(37		)	(97		)	35		—			521
	Foreign Govt./Govt. Agencies	47			—			2			—		—			—			—		—			49
	Municipal	46			—			3			—		—			(5		)	—		—			44
	RMBS	1,261			—			4			88		(55		)	(7		)	—		—			1,291
Total Fixed Maturities, AFS		2,126			—			17			249		(98		)	(109		)	58		(65		)	2,178
Fixed Maturities, FVO		11			—			—			4		(2		)	(13		)	—		—			—
Equity Securities, AFS		55			—			(2		)	2		—			—			—		—			55
Derivatives, net [4]
	Equity	—			(1		)	—			5		—			—			—		—			4
	Interest rate	9			(4		)	—			—		—			—			—		—			5
	Other contracts	1			(1		)	—			—		—			—			—		—			—
Total Derivatives, net [4]		10			(6		)	—			5		—			—			—		—			9
Total Assets		$	2,202		$	(6	)	$	15		$	260	$	(100	)	$	(122	)	$	58	$	(65	)	$	2,242
Liabilities
Contingent Consideration [6]		(25		)	(1		)	—			—		—			—			—		—			(26		)
Total Liabilities		$	(25	)	$	(1	)	$	—		$	—	$	—		$	—		$	—	$	—		$	(26	)

[1] Amounts in these columns are generally reported in net realized capital gains (losses). All amounts are before income taxes.

[2] All amounts are before income taxes.

[3] 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.

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

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

[6] For additional information, see Note 2 - Business Acquisitions of Notes to Consolidated Financial Statements included in the Company's 2017 form 10-K Annual Report for discussion of the contingent consideration in connection with the acquisition of Lattice.

Changes in Unrealized Gains (Losses) Included in Net Income for Financial Instruments Classified as Level 3 Still Held at End of Period
		Three months ended March 31,
		2018 [1] [2]		2017 [1] [2]
Assets
Fixed Maturities, AFS
	CMBS	$	—	$	(1	)
Total Fixed Maturities, AFS		—		(1		)
Derivatives, net
	Equity	—		(1		)
	Interest rate	1		(3		)
Total Derivatives, net		1		(4		)
Total Assets		$	1	$	(5	)
Liabilities
Contingent Consideration [3]		2		(1		)
Total Liabilities		$	2	$	(1	)

[1] All amounts in these rows are reported in net realized capital gains (losses). All amounts are before income taxes.

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

[3] For additional information, see Note 2 - Business Acquisitions of Notes to Consolidated Financial Statements included in the Company's 2017 form 10-K Annual Report for discussion of the contingent consideration in connection with the acquisition of Lattice.

Fair Value, by Balance Sheet Grouping

Changes in Fair Value of Assets using Fair Value Option
	Three Months Ended March 31,
	2018		2017
Assets
Fixed maturities, FVO
Corporate	$	—	$	(1	)
Total realized capital gains (losses)	$	—	$	(1	)

Fair Value of Assets and Liabilities using the Fair Value Option
	March 31, 2018		December 31, 2017
Assets
Fixed maturities, FVO
RMBS	$	38	$	41
Total fixed maturities, FVO	$	38	$	41

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

Financial Assets and Liabilities Not Carried at Fair Value
	Fair Value Hierarchy Level	Carrying Amount		Fair Value
March 31, 2018
Assets
Mortgage loans	Level 3	$	3,221	$	3,220
Liabilities
Other policyholder funds and benefits payable	Level 3	$	809	$	811
Senior notes [1]	Level 2	$	3,585	$	4,097
Junior subordinated debentures [1]	Level 2	$	1,583	$	1,694
December 31, 2017
Assets
Mortgage loans	Level 3	$	3,175	$	3,220
Liabilities
Other policyholder funds and benefits payable	Level 3	$	825	$	827
Senior notes [1]	Level 2	$	3,415	$	4,054
Junior subordinated debentures [1]	Level 2	$	1,583	$	1,699

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