XML 60 R49.htm IDEA: XBRL DOCUMENT v3.7.0.1
Fair Value Measurements (Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations) (Detail) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Mar. 31, 2016
[2],[3]
Dec. 31, 2015
[3]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Valuation Technique [1] Actuarial model      
Minimum [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate [1] 3.00%      
Significant Unobservable Inputs Annuitization Rate [1] 0.00%      
Maximum [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate [1] 34.00%      
Significant Unobservable Inputs Annuitization Rate [1] 78.00%      
Guaranteed Minimum Income Benefit [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value $ 466 [2] $ 559 [2] $ 839 $ 609
Fair Value, Inputs, Level 3 [Member] | Guaranteed Minimum Income Benefit [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value   $ 559    
[1] Discussion of the most significant inputs used in the fair value measurement of GLB and the sensitivity of those assumptions is included within Note 4 a) Guaranteed living benefits.
[2] Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $774 million at March 31, 2017, and $853 million at December 31, 2016, which includes a fair value derivative adjustment of $466 million and $559 million, respectively.
[3] Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $1.1 billion at March 31, 2016, and $888 million at December 31, 2015, which includes a fair value derivative adjustment of $839 million and $609 million, respectively.(2) Includes acquired invested assets as a result of the Chubb Corp acquisition.