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Commitments, contingencies, and guarantees (Tables)
 12 Months Ended
Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]  
Balance Sheet Locations, Fair Values In An Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments
The following table presents the balance sheet locations, fair values of derivative instruments in an asset or (liability) position, and notional values/payment provisions of our derivative instruments: 
 
 
 
December 31, 2017
 
 
 
December 31, 2016
 
 
Consolidated
Balance Sheet
Location
 
Fair Value
 
 
Notional
Value/
Payment
Provision

 
 
Fair Value
 
 
Notional
Value/
Payment
Provision

 
 
Derivative Asset

 
Derivative (Liability)

 
 
 
Derivative Asset

 
Derivative (Liability)

 
(in millions of U.S. dollars)
 
 
 
 
 
 
 
Investment and embedded derivative instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency forward contracts
OA / (AP)
 
$
14

 
$
(27
)
 
$
2,064

 
 
$
25

 
$
(50
)
 
$
2,220

Cross-currency swaps
OA / (AP)
 
—

 
—

 
45

 
 
—

 
—

 
95

Options/Futures contracts on notes and bonds
OA / (AP)
 
4

 
(3
)
 
1,007

 
 
6

 
(4
)
 
2,344

Convertible securities (1)
FM AFS/ES
 
5

 
—

 
6

 
 
2

 
—

 
7

 
 
 
$
23

 
$
(30
)
 
$
3,122

 
 
$
33

 
$
(54
)
 
$
4,666

Other derivative instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Futures contracts on equities (2)
OA / (AP)
 
$
—

 
$
(21
)
 
$
1,553

 
 
$
1

 
$
—

 
$
1,316

Other
OA / (AP)
 
1

 
(2
)
 
75

 
 
2

 
(13
)
 
214

 
 
 
$
1

 
$
(23
)
 
$
1,628

 
 
$
3

 
$
(13
)
 
$
1,530

GLB (3)
(AP) / (FPB)
 
$
—

 
$
(550
)
 
$
1,083

 
 
$
—

 
$
(853
)
 
$
1,264

(1)
Includes fair value of embedded derivatives.
(2) 
Related to GMDB and GLB blocks of business.
(3) 
Includes both future policy benefits reserves and fair value derivative adjustment. Refer to Note 5 c) for additional information. Note that the payment provision related to GLB is the net amount at risk. The concept of a notional value does not apply to the GLB reinsurance contracts.
Secured Borrowings Securities Lending Table
The following table presents the carrying value of collateral held under securities lending agreements by investment category and remaining contractual maturity of the underlying agreements:
 
Remaining contractual maturity
 
 
December 31 2017

 
December 31 2016

(in millions of U.S. dollars)
Overnight and Continuous
 
Collateral held under securities lending agreements:
 
 
 
Cash
$
828

 
$
423

U.S. Treasury and agency
36

 
54

Foreign
712

 
578

Corporate securities
—

 
37

Mortgage-backed securities
74

 
—

Equity securities
87

 
—

 
$
1,737

 
$
1,092

Gross amount of recognized liability for securities lending payable
$
1,737

 
$
1,093

Difference (1)
$
—

 
$
(1
)
(1) 
The carrying value of the securities lending collateral held is $1 million lower than the securities lending payable at December 31, 2016 due to accrued interest recorded in the securities lending payable.
At December 31, 2017 and 2016, our repurchase agreement obligations of $1,408 million and $1,403 million, respectively, were fully collateralized. In contrast to securities lending programs, the use of cash received is not restricted for the repurchase obligations. The fair value of the underlying securities sold remains in Fixed maturities available for sale, and the repurchase agreement obligation is recorded in Repurchase agreements in the Consolidated balance sheets.
The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:
 
Remaining contractual maturity
 
 
December 31, 2017
 
 
December 31, 2016
 
 
Up to 30 Days

 
Greater than 90 Days

 
 
 
Up to 30 Days

 
Greater than 90 Days

 
Total

(in millions of U.S. dollars)
 
Total

 
 
 
Collateral pledged under repurchase agreements:
 
 
 
 
 
 
 
 
 
 
 
Cash
$
—

 
$
—

 
$
—

 
$
—

 
$
1

 
$
1

U.S. Treasury and agency
9

 
230

 
239

 
230

 
10

 
240

Mortgage-backed securities
369

 
826

 
1,195

 
339

 
881

 
1,220

 
$
378

 
$
1,056

 
$
1,434

 
$
569

 
$
892

 
$
1,461

Gross amount of recognized liabilities for repurchase agreements
 
 
 
 
$
1,408

 
 
 
 
 
$
1,403

Difference (1)
 
 
 
 
$
26

 
 
 
 
 
$
58


(1) 
Per the repurchase agreements, the amount of collateral posted is required to exceed the amount of gross liability.
Derivative Instruments, Gain (Loss) [Table Text Block]
The following table presents net realized gains (losses) related to derivative instrument activity in the Consolidated statements of operations:
 
Year Ended December 31
 
(in millions of U.S. dollars)
2017

 
2016

 
2015

Investment and embedded derivative instruments:
 
 
 
 
 
Foreign currency forward contracts
$
9

 
$
(31
)
 
$
31

All other futures contracts and options
(21
)
 
(10
)
 
9

Convertible securities (1)
1

 
8

 
(8
)
Total investment and embedded derivative instruments
$
(11
)
 
$
(33
)
 
$
32

GLB and other derivative instruments:
 
 
 
 
 
GLB (2)
$
364

 
$
53

 
$
(203
)
Futures contracts on equities (3)
(261
)
 
(136
)
 
(8
)
Other
(5
)
 
(10
)
 
(14
)
Total GLB and other derivative instruments
$
98

 
$
(93
)
 
$
(225
)
 
$
87

 
$
(126
)
 
$
(193
)
(1) 
Includes embedded derivatives.
(2) 
Schedule of Future Minimum Rental Payments for Operating Leases
Future minimum lease payments under the leases are expected to be as follows:
For the years ending December 31
(in millions of U.S. dollars)
2018
$
181

2019
153

2020
133

2021
114

2022
89

Thereafter
230

Total minimum future lease commitments
$
900