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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2015	Nov. 05, 2015
Document and Entity Information
Entity Registrant Name	ALLSTATE LIFE INSURANCE CO
Entity Central Index Key	0000352736
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		23,800
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Premiums	$ 150	$ 142	$ 448	$ 441
Contract charges	180	192	557	652
Net investment income	473	461	1,417	1,612
Realized capital gains and losses:
Total other-than-temporary impairment (“OTTI”) losses	(73)	(19)	(95)	(41)
OTTI losses reclassified to (from) other comprehensive income	6	0	9	(1)
Net OTTI losses recognized in earnings	(67)	(19)	(86)	(42)
Sales and other realized capital gains and losses	256	47	445	60
Total realized capital gains and losses	189	28	359	18
Total revenues	992	823	2,781	2,723
Costs and expenses
Contract benefits	353	356	1,057	1,101
Interest credited to contractholder funds	181	191	546	696
Amortization of deferred policy acquisition costs	38	36	116	124
Operating costs and expenses	56	75	211	232
Restructuring and related charges	0	(1)	2	2
Interest expense	4	4	12	12
Total costs and expenses	632	661	1,944	2,167
Gain (loss) on disposition of operations	2	(27)	2	(71)
Income from operations before income tax expense	362	135	839	485
Income tax expense	123	51	297	142
Net income	239	84	542	343
Other comprehensive (loss) income, after-tax
Change in unrealized net capital gains and losses	(302)	24	(697)	345
Change in unrealized foreign currency translation adjustments	3	0	(4)	1
Other comprehensive (loss) income, after-tax	(299)	24	(701)	346
Comprehensive (loss) income	$ (60)	$ 108	$ (159)	$ 689

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Investments
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	$ 25,173	$ 28,117
Mortgage loans	3,827	3,686
Equity securities, at fair value (cost $1,423 and $927)	1,370	970
Limited partnership interests	2,261	2,024
Short-term, at fair value (amortized cost $937 and $857)	937	857
Policy loans	575	616
Other	1,302	1,196
Total investments	35,445	37,466
Cash	227	146
Deferred policy acquisition costs	1,292	1,271
Reinsurance recoverables	2,878	2,586
Accrued investment income	287	333
Other assets	489	537
Separate Accounts	3,677	4,396
Total assets	44,295	46,735
Liabilities
Contractholder funds	20,816	21,816
Reserve for life-contingent contract benefits	11,390	11,566
Unearned premiums	5	6
Payable to affiliates, net	52	96
Other liabilities and accrued expenses	939	826
Deferred income taxes	1,070	1,407
Notes due to related parties	275	275
Separate Accounts	3,677	4,396
Total liabilities	38,224	40,388
Commitments and Contingent Liabilities (Note 7)
Shareholder’s equity
Common stock, $227 par value, 23,800 shares authorized and outstanding	5	5
Additional capital paid-in	1,990	1,990
Retained income	3,398	2,973
Unrealized net capital gains and losses:
Unrealized net capital gains and losses on fixed income securities with OTTI	42	47
Other unrealized net capital gains and losses	703	1,468
Unrealized adjustment to DAC, DSI and insurance reserves	(60)	(133)
Total unrealized net capital gains and losses	685	1,382
Unrealized foreign currency translation adjustments	(7)	(3)
Total accumulated other comprehensive income	678	1,379
Total shareholder’s equity	6,071	6,347
Total liabilities and shareholder’s equity	44,295	46,735
Series A
Shareholder’s equity
Redeemable preferred stock	0	0
Series B
Shareholder’s equity
Redeemable preferred stock	$ 0	$ 0

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fixed income securities, at fair value, amortized cost (in dollars)	$ 23,975	$ 25,822
Equity securities, at fair value, cost (in dollars)	1,423	927
Short-term, at fair value, amortized cost (in dollars)	$ 937	$ 857
Common stock, par value (in dollars per share)	$ 227	$ 227
Common stock, shares authorized	23,800	23,800
Common stock, shares outstanding	23,800	23,800
Series A
Redeemable preferred stock, par value (in dollars per share)	$ 100	$ 100
Redeemable preferred stock, shares authorized	1,500,000	1,500,000
Redeemable preferred stock, shares issued	0	0
Series B
Redeemable preferred stock, par value (in dollars per share)	$ 100	$ 100
Redeemable preferred stock, shares authorized	1,500,000	1,500,000
Redeemable preferred stock, shares issued	0	0

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDER'S EQUITY - USD ($) $ in Millions	Total	Common stock	Additional capital paid-in	Retained income	Accumulated other comprehensive income
Balance, beginning of period at Dec. 31, 2013			$ 2,690	$ 2,447	$ 928
Increase (decrease) in equity
Return of capital			(700)
Net income	$ 343			343
Dividends				0
Loss on reinsurance with an affiliate				0
Loss on sale of subsidiary to an affiliate				0
Change in unrealized net capital gains and losses	345				345
Change in unrealized foreign currency translation adjustments	1				1
Balance, end of period at Sep. 30, 2014	6,059	$ 5	1,990	2,790	1,274
Balance, beginning of period at Dec. 31, 2014	6,347		1,990	2,973	1,379
Increase (decrease) in equity
Return of capital			0
Net income	542			542
Dividends				(103)
Loss on reinsurance with an affiliate				(12)
Loss on sale of subsidiary to an affiliate	(2)			(2)
Change in unrealized net capital gains and losses	(697)				(697)
Change in unrealized foreign currency translation adjustments	(4)				(4)
Balance, end of period at Sep. 30, 2015	$ 6,071	$ 5	$ 1,990	$ 3,398	$ 678

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net income	$ 542	$ 343
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and other non-cash items	(58)	(63)
Realized capital gains and losses	(359)	(18)
(Gain) loss on disposition of operations	(2)	71
Interest credited to contractholder funds	546	696
Changes in:
Policy benefits and other insurance reserves	(422)	(452)
Unearned premiums	0	(1)
Deferred policy acquisition costs	20	4
Reinsurance recoverables, net	17	(6)
Income taxes	128	61
Other operating assets and liabilities	(31)	(179)
Net cash provided by operating activities	381	456
Proceeds from sales
Fixed income securities	6,758	2,486
Equity securities	511	326
Limited partnership interests	349	358
Mortgage loans	6	9
Other investments	18	25
Investment collections
Fixed income securities	1,448	1,485
Mortgage loans	257	795
Other investments	59	37
Investment purchases
Fixed income securities	(6,308)	(2,026)
Equity securities	(1,045)	(846)
Limited partnership interests	(481)	(482)
Mortgage loans	(475)	(194)
Other investments	(204)	(195)
Change in short-term investments, net	(88)	140
Change in policy loans and other investments, net	(17)	54
Disposition of operations	10	345
Net cash provided by investing activities	798	2,317
Cash flows from financing activities
Contractholder fund deposits	674	832
Contractholder fund withdrawals	(1,755)	(2,800)
Dividends paid	(17)	0
Return of capital	0	(700)
Repayment of notes due to related parties	0	(7)
Net cash used in financing activities	(1,098)	(2,675)
Net increase in cash	81	98
Cash at beginning of period	146	93
Cash at end of period	$ 227	$ 191

General

9 Months Ended

Sep. 30, 2015

General

General

Basis of presentation

The accompanying condensed consolidated financial statements include the accounts of Allstate Life Insurance Company (“ALIC”) and its wholly owned subsidiaries (collectively referred to as the “Company”). ALIC is wholly owned by Allstate Insurance Company (“AIC”), which is wholly owned by Allstate Insurance Holdings, LLC, a wholly owned subsidiary of The Allstate Corporation (the “Corporation”).

The condensed consolidated financial statements and notes as of September 30, 2015 and for the three-month and nine-month periods ended September 30, 2015 and 2014 are unaudited. The condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring accruals) which are, in the opinion of management, necessary for the fair presentation of the financial position, results of operations and cash flows for the interim periods. These condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The results of operations for the interim periods should not be considered indicative of results to be expected for the full year. All significant intercompany accounts and transactions have been eliminated.

Sale of subsidiary

On January 1, 2015, ALIC sold its subsidiary Allstate Assurance Company (“AAC”) to its unconsolidated affiliate Allstate Financial Insurance Holdings Corporation. ALIC received $11 million in cash. The $2 million loss on sale was recorded as a decrease to retained income since the sale was between affiliates under common control.

Reinsurance

Effective April 1, 2015, ALIC entered into a coinsurance reinsurance agreement with AAC to cede certain interest-sensitive life insurance policies to AAC. In connection with the agreement, the Company recorded reinsurance recoverables of $476 million and paid $494 million in investments. The $12 million loss on the transaction was recorded as a decrease to retained income since the transaction was between affiliates under common control.

Dividends

In September 2015, the Company paid dividends of $103 million to AIC in the form of cash and investments.

Premiums and contract charges

The following table summarizes premiums and contract charges by product.



($ in millions)	Three months ended September 30,				Nine months ended September 30,
	2015		2014		2015		2014
Premiums
Traditional life insurance	$	129	$	120	$	384	$	365
Immediate annuities with life contingencies	—		—		—		5
Accident and health insurance	21		22		64		71
Total premiums	150		142		448		441

Contract charges
Interest-sensitive life insurance	176		188		547		638
Fixed annuities	4		4		10		14
Total contract charges	180		192		557		652
Total premiums and contract charges	$	330	$	334	$	1,005	$	1,093

Adopted accounting standard

Accounting for Investments in Qualified Affordable Housing Projects

In January 2014, the Financial Accounting Standards Board (“FASB”) issued guidance which allows entities that invest in certain qualified affordable housing projects through limited liability entities the option to account for these investments using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense or benefit. Adoption of the new guidance in the first quarter of 2015 resulted in a one-time $17 million increase in income tax expense.

Pending accounting standard

Amendments to the Consolidation Analysis

In February 2015, the FASB issued guidance affecting the consolidation evaluation for limited partnerships and similar entities, fees paid to a decision maker or service provider, and variable interests in a variable interest entity held by related parties of the reporting enterprise. The guidance is effective for annual and interim reporting periods beginning after December 15, 2015. The Company is in the process of assessing the impact of adoption which is not expected to be material to the Company’s results of operations or financial position.

Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2015

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

Non-cash investing activities include $63 million and $89 million related to modifications of certain mortgage loans, fixed income securities and other investments, as well as mergers completed with equity securities for the nine months ended September 30, 2015 and 2014, respectively, and a $45 million obligation to fund a limited partnership investment for the nine months ended September 30, 2015.

Liabilities for collateral received in conjunction with the Company’s securities lending program and over-the-counter (“OTC”) and cleared derivatives are reported in other liabilities and accrued expenses or other investments. The accompanying cash flows are included in cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows along with the activities resulting from management of the proceeds, which are as follows:



($ in millions)	Nine months ended September 30,
	2015			2014
Net change in proceeds managed
Net change in short-term investments	$	6		$	(151	)
Operating cash flow provided (used)	6			(151		)
Net change in cash	1			—
Net change in proceeds managed	$	7		$	(151	)

Net change in liabilities
Liabilities for collateral, beginning of period	$	(510	)	$	(328	)
Liabilities for collateral, end of period	(503		)	(479		)
Operating cash flow (used) provided	$	(7	)	$	151

Investments

9 Months Ended

Sep. 30, 2015

Investments [Abstract]

Investments

Fair values

The amortized cost, gross unrealized gains and losses and fair value for fixed income securities are as follows:



($ in millions)	Amortized		Gross unrealized					Fair
	cost		Gains		Losses			value
September 30, 2015
U.S. government and agencies	$	508	$	68	$	—		$	576
Municipal	2,212		323		(9		)	2,526
Corporate	18,198		1,045		(340		)	18,903
Foreign government	387		44		(1		)	430
Asset-backed securities (“ABS”)	1,737		9		(25		)	1,721
Residential mortgage-backed securities (“RMBS”)	439		54		(4		)	489
Commercial mortgage-backed securities (“CMBS”)	481		34		(3		)	512
Redeemable preferred stock	13		3		—			16
Total fixed income securities	$	23,975	$	1,580	$	(382	)	$	25,173

December 31, 2014
U.S. government and agencies	$	668	$	102	$	—		$	770
Municipal	3,156		520		(14		)	3,662
Corporate	19,465		1,670		(150		)	20,985
Foreign government	654		81		—			735
ABS	773		13		(21		)	765
RMBS	554		55		(4		)	605
CMBS	538		43		(2		)	579
Redeemable preferred stock	14		2		—			16
Total fixed income securities	$	25,822	$	2,486	$	(191	)	$	28,117

Scheduled maturities

The scheduled maturities for fixed income securities are as follows as of September 30, 2015:



($ in millions)	Amortized cost		Fair value
Due in one year or less	$	1,054	$	1,064
Due after one year through five years	6,438		6,794
Due after five years through ten years	8,882		9,108
Due after ten years	4,944		5,485
	21,318		22,451
ABS, RMBS and CMBS	2,657		2,722
Total	$	23,975	$	25,173

Actual maturities may differ from those scheduled as a result of calls and make-whole payments by the issuers. ABS, RMBS and CMBS are shown separately because of the potential for prepayment of principal prior to contractual maturity dates.

Net investment income

Net investment income is as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Fixed income securities	$	300		$	349		$	960		$	1,179
Mortgage loans	46			48			147			188
Equity securities	6			7			19			17
Limited partnership interests	105			51			250			209
Short-term investments	1			—			2			1
Policy loans	9			10			26			30
Other	19			15			55			43
Investment income, before expense	486			480			1,459			1,667
Investment expense	(13		)	(19		)	(42		)	(55		)
Net investment income	$	473		$	461		$	1,417		$	1,612

Realized capital gains and losses

Realized capital gains and losses by asset type are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Fixed income securities	$	256		$	(1	)	$	370		$	(1	)
Mortgage loans	1			2			2			3
Equity securities	(58		)	(5		)	(10		)	11
Limited partnership interests	(20		)	28			(18		)	(5		)
Derivatives	15			4			21			7
Other	(5		)	—			(6		)	3
Realized capital gains and losses	$	189		$	28		$	359		$	18

Realized capital gains and losses by transaction type are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Impairment write-downs	$	(17	)	$	2		$	(29	)	$	(2	)
Change in intent write-downs	(50		)	(21		)	(57		)	(40		)
Net other-than-temporary impairment losses recognized in earnings	(67		)	(19		)	(86		)	(42		)
Sales and other	241			43			427			51
Valuation and settlements of derivative instruments	15			4			18			9
Realized capital gains and losses	$	189		$	28		$	359		$	18

Gross gains of $308 million and $23 million and gross losses of $46 million and $5 million were realized on sales of fixed income and equity securities during the three months ended September 30, 2015 and 2014, respectively. Gross gains of $524 million and $76 million and gross losses of $84 million and $34 million were realized on sales of fixed income and equity securities during the nine months ended September 30, 2015 and 2014, respectively.

Other-than-temporary impairment losses by asset type are as follows:



($ in millions)	Three months ended September 30, 2015								Three months ended September 30, 2014
	Gross			Included in OCI		Net			Gross			Included in OCI			Net
Fixed income securities:
Corporate	$	(4	)	$	—	$	(4	)	$	(3	)	$	—		$	(3	)
ABS	(8		)	6		(2		)	—			—			—
CMBS	(1		)	—		(1		)	—			—			—
Total fixed income securities	(13		)	6		(7		)	(3		)	—			(3		)
Mortgage loans	—			—		—			2			—			2
Equity securities	(58		)	—		(58		)	(21		)	—			(21		)
Limited partnership interests	—			—		—			3			—			3
Other	(2		)	—		(2		)	—			—			—
Other-than-temporary impairment losses	$	(73	)	$	6	$	(67	)	$	(19	)	$	—		$	(19	)

	Nine months ended September 30, 2015								Nine months ended September 30, 2014
	Gross			Included in OCI		Net			Gross			Included in OCI			Net
Fixed income securities:
Municipal	$	—		$	—	$	—		$	(1	)	$	—		$	(1	)
Corporate	(11		)	3		(8		)	(3		)	—			(3		)
ABS	(10		)	6		(4		)	(1		)	—			(1		)
RMBS	—			—		—			3			(1		)	2
CMBS	(1		)	—		(1		)	—			—			—
Total fixed income securities	(22		)	9		(13		)	(2		)	(1		)	(3		)
Mortgage loans	—			—		—			6			—			6
Equity securities	(68		)	—		(68		)	(29		)	—			(29		)
Limited partnership interests	(2		)	—		(2		)	(16		)	—			(16		)
Other	(3		)	—		(3		)	—			—			—
Other-than-temporary impairment losses	$	(95	)	$	9	$	(86	)	$	(41	)	$	(1	)	$	(42	)

The total amount of other-than-temporary impairment losses included in accumulated other comprehensive income at the time of impairment for fixed income securities, which were not included in earnings, are presented in the following table. The amounts exclude $134 million and $138 million as of September 30, 2015 and December 31, 2014, respectively, of net unrealized gains related to changes in valuation of the fixed income securities subsequent to the impairment measurement date.



($ in millions)	September 30, 2015			December 31, 2014
Municipal	$	(5	)	$	(5	)
ABS	(8		)	(1		)
RMBS	(50		)	(55		)
CMBS	(6		)	(5		)
Total	$	(69	)	$	(66	)

Rollforwards of the cumulative credit losses recognized in earnings for fixed income securities held as of the end of the period are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Beginning balance	$	(206	)	$	(229	)	$	(209	)	$	(299	)
Additional credit loss for securities previously other-than-temporarily impaired	(3		)	—			(5		)	2
Additional credit loss for securities not previously other-than-temporarily impaired	(4		)	(3		)	(8		)	(4		)
Reduction in credit loss for securities disposed or collected	13			9			20			19
Reduction in credit loss for securities the Company has made the decision to sell or more likely than not will be required to sell	—			—			—			—
Change in credit loss due to accretion of increase in cash flows	—			1			2			1
Reduction in credit loss for securities sold in Lincoln Benefit Life Company (“LBL”) disposition	—			—			—			59
Ending balance	$	(200	)	$	(222	)	$	(200	)	$	(222	)

The Company uses its best estimate of future cash flows expected to be collected from the fixed income security, discounted at the security’s original or current effective rate, as appropriate, to calculate a recovery value and determine whether a credit loss exists. The determination of cash flow estimates is inherently subjective and methodologies may vary depending on facts and circumstances specific to the security. All reasonably available information relevant to the collectability of the security, including past events, current conditions, and reasonable and supportable assumptions and forecasts, are considered when developing the estimate of cash flows expected to be collected. That information generally includes, but is not limited to, the remaining payment terms of the security, prepayment speeds, foreign exchange rates, the financial condition and future earnings potential of the issue or issuer, expected defaults, expected recoveries, the value of underlying collateral, vintage, geographic concentration, available reserves or escrows, current subordination levels, third party guarantees and other credit enhancements. Other information, such as industry analyst reports and forecasts, sector credit ratings, financial condition of the bond insurer for insured fixed income securities, and other market data relevant to the realizability of contractual cash flows, may also be considered. The estimated fair value of collateral will be used to estimate recovery value if the Company determines that the security is dependent on the liquidation of collateral for ultimate settlement. If the estimated recovery value is less than the amortized cost of the security, a credit loss exists and an other-than-temporary impairment for the difference between the estimated recovery value and amortized cost is recorded in earnings. The portion of the unrealized loss related to factors other than credit remains classified in accumulated other comprehensive income. If the Company determines that the fixed income security does not have sufficient cash flow or other information to estimate a recovery value for the security, the Company may conclude that the entire decline in fair value is deemed to be credit related and the loss is recorded in earnings.

Unrealized net capital gains and losses

Unrealized net capital gains and losses included in accumulated other comprehensive income are as follows:



($ in millions)	Fair value		Gross unrealized					Unrealized net gains (losses)
September 30, 2015	Fair value		Gains		Losses			Unrealized net gains (losses)
Fixed income securities	$	25,173	$	1,580	$	(382	)	$	1,198
Equity securities	1,370		21		(74		)	(53		)
Short-term investments	937		—		—			—
Derivative instruments⁽¹⁾	11		11		—			11
Equity method (“EMA”) limited partnerships⁽²⁾								(2		)
Unrealized net capital gains and losses, pre-tax								1,154
Amounts recognized for:
Insurance reserves ⁽³⁾								—
DAC and DSI ⁽⁴⁾								(92		)
Amounts recognized								(92		)
Deferred income taxes								(377		)
Unrealized net capital gains and losses, after-tax								$	685

_______________


⁽¹⁾	Included in the fair value of derivative instruments are $4 million classified as assets and $(7) million classified as liabilities.


⁽²⁾	Unrealized net capital gains and losses for limited partnership interests represent the Company’s share of EMA limited partnerships’ other comprehensive income. Fair value and gross unrealized gains and losses are not applicable.

⁽³⁾

The insurance reserves adjustment represents the amount by which the reserve balance would increase if the net unrealized gains in the applicable product portfolios were realized and reinvested at current lower interest rates, resulting in a premium deficiency. Although the Company evaluates premium deficiencies on the combined performance of life insurance and immediate annuities with life contingencies, the adjustment primarily relates to structured settlement annuities with life contingencies, in addition to annuity buy-outs and certain payout annuities with life contingencies.


⁽⁴⁾	The DAC and DSI adjustment balance represents the amount by which the amortization of DAC and DSI would increase or decrease if the unrealized gains or losses in the respective product portfolios were realized.



($ in millions)	Fair value		Gross unrealized					Unrealized net gains (losses)
December 31, 2014	Fair value		Gains		Losses			Unrealized net gains (losses)
Fixed income securities	$	28,117	$	2,486	$	(191	)	$	2,295
Equity securities	970		57		(14		)	43
Short-term investments	857		—		—			—
Derivative instruments ⁽¹⁾	2		3		(1		)	2
EMA limited partnerships								(2		)
Unrealized net capital gains and losses, pre-tax								2,338
Amounts recognized for:
Insurance reserves								(28		)
DAC and DSI								(176		)
Amounts recognized								(204		)
Deferred income taxes								(752		)
Unrealized net capital gains and losses, after-tax								$	1,382

_______________


⁽¹⁾	Included in the fair value of derivative instruments are $3 million classified as assets and $1 million classified as liabilities.

Change in unrealized net capital gains and losses

The change in unrealized net capital gains and losses for the nine months ended September 30, 2015 is as follows:



($ in millions)
Fixed income securities	$	(1,097	)
Equity securities	(96		)
Derivative instruments	9
Total	(1,184		)
Amounts recognized for:
Insurance reserves	28
DAC and DSI	84
Amounts recognized	112
Deferred income taxes	375
Decrease in unrealized net capital gains and losses, after-tax	$	(697	)

Portfolio monitoring

The Company has a comprehensive portfolio monitoring process to identify and evaluate each fixed income and equity security whose carrying value may be other-than-temporarily impaired.

For each fixed income security in an unrealized loss position, the Company assesses whether management with the appropriate authority has made the decision to sell or whether it is more likely than not the Company will be required to sell the security before recovery of the amortized cost basis for reasons such as liquidity, contractual or regulatory purposes. If a security meets either of these criteria, the security’s decline in fair value is considered other than temporary and is recorded in earnings.

If the Company has not made the decision to sell the fixed income security and it is not more likely than not the Company will be required to sell the fixed income security before recovery of its amortized cost basis, the Company evaluates whether it expects to receive cash flows sufficient to recover the entire amortized cost basis of the security. The Company calculates the estimated recovery value by discounting the best estimate of future cash flows at the security’s original or current effective rate, as appropriate, and compares this to the amortized cost of the security. If the Company does not expect to receive cash flows sufficient to recover the entire amortized cost basis of the fixed income security, the credit loss component of the impairment is recorded in earnings, with the remaining amount of the unrealized loss related to other factors recognized in other comprehensive income.

For equity securities, the Company considers various factors, including whether it has the intent and ability to hold the equity security for a period of time sufficient to recover its cost basis. Where the Company lacks the intent and ability to hold to recovery, or believes the recovery period is extended, the equity security’s decline in fair value is considered other than temporary and is recorded in earnings.

For fixed income and equity securities managed by third parties, either the Company has contractually retained its decision making authority as it pertains to selling securities that are in an unrealized loss position or it recognizes any unrealized loss at the end of the period through a charge to earnings.

The Company’s portfolio monitoring process includes a quarterly review of all securities to identify instances where the fair value of a security compared to its amortized cost (for fixed income securities) or cost (for equity securities) is below established thresholds. The process also includes the monitoring of other impairment indicators such as ratings, ratings downgrades and payment defaults. The securities identified, in addition to other securities for which the Company may have a concern, are evaluated for potential other-than-temporary impairment using all reasonably available information relevant to the collectability or recovery of the security. Inherent in the Company’s evaluation of other-than-temporary impairment for these fixed income and equity securities are assumptions and estimates about the financial condition and future earnings potential of the issue or issuer. Some of the factors that may be considered in evaluating whether a decline in fair value is other than temporary are: 1) the financial condition, near-term and long-term prospects of the issue or issuer, including relevant industry specific market conditions and trends, geographic location and implications of rating agency actions and offering prices; 2) the specific reasons that a security is in an unrealized loss position, including overall market conditions which could affect liquidity; and 3) the length of time and extent to which the fair value has been less than amortized cost or cost.

The following table summarizes the gross unrealized losses and fair value of fixed income and equity securities by the length of time that individual securities have been in a continuous unrealized loss position.



($ in millions)	Less than 12 months						12 months or more						Total unrealized losses
	Number of issues	Fair value		Unrealized losses			Number of issues	Fair value		Unrealized losses
	Number of issues	Fair value		Unrealized losses			Number of issues	Fair value		Unrealized losses
September 30, 2015
Fixed income securities
U.S. government and agencies	1	$	5	$	—		—	$	—	$	—		$	—
Municipal	21	56		(1		)	5	24		(8		)	(9		)
Corporate	686	3,948		(244		)	60	551		(96		)	(340		)
Foreign government	2	32		(1		)	—	—		—			(1		)
ABS	37	387		(8		)	19	186		(17		)	(25		)
RMBS	31	2		—			40	57		(4		)	(4		)
CMBS	6	32		—			2	4		(3		)	(3		)
Total fixed income securities	784	4,462		(254		)	126	822		(128		)	(382		)
Equity securities	419	742		(74		)	—	—		—			(74		)
Total fixed income and equity securities	1,203	$	5,204	$	(328	)	126	$	822	$	(128	)	$	(456	)

Investment grade fixed income securities	422	$	2,931	$	(114	)	77	$	550	$	(73	)	$	(187	)
Below investment grade fixed income securities	362	1,531		(140		)	49	272		(55		)	(195		)
Total fixed income securities	784	$	4,462	$	(254	)	126	$	822	$	(128	)	$	(382	)

December 31, 2014
Fixed income securities
U.S. government and agencies	1	$	1	$	—		—	$	—	$	—		$	—
Municipal	17	90		(1		)	10	47		(13		)	(14		)
Corporate	281	1,780		(69		)	91	875		(81		)	(150		)
Foreign government	—	—		—			1	15		—			—
ABS	19	168		(2		)	23	217		(19		)	(21		)
RMBS	19	3		—			45	73		(4		)	(4		)
CMBS	8	33		—			3	32		(2		)	(2		)
Total fixed income securities	345	2,075		(72		)	173	1,259		(119		)	(191		)
Equity securities	294	327		(13		)	1	6		(1		)	(14		)
Total fixed income and equity securities	639	$	2,402	$	(85	)	174	$	1,265	$	(120	)	$	(205	)

Investment grade fixed income securities	167	$	1,275	$	(28	)	127	$	989	$	(79	)	$	(107	)
Below investment grade fixed income securities	178	800		(44		)	46	270		(40		)	(84		)
Total fixed income securities	345	$	2,075	$	(72	)	173	$	1,259	$	(119	)	$	(191	)

As of September 30, 2015, $296 million of the $456 million unrealized losses are related to securities with an unrealized loss position less than 20% of amortized cost or cost, the degree of which suggests that these securities do not pose a high risk of being other-than-temporarily impaired. Of the $296 million, $126 million are related to unrealized losses on investment grade fixed income securities and $52 million are related to equity securities. Of the remaining $118 million, $90 million have been in an unrealized loss position for less than 12 months. Investment grade is defined as a security having a rating of Aaa, Aa, A or Baa from Moody’s, a rating of AAA, AA, A or BBB from Standard and Poor’s (“S&P”), Fitch, Dominion, Kroll or Realpoint, a rating of aaa, aa, a or bbb from A.M. Best, or a comparable internal rating if an externally provided rating is not available. Unrealized losses on investment grade securities are principally related to increasing risk-free interest rates or widening credit spreads since the time of initial purchase.

As of September 30, 2015, the remaining $160 million of unrealized losses are related to securities in unrealized loss positions greater than or equal to 20% of amortized cost or cost. Investment grade fixed income securities comprising $61 million of these unrealized losses were evaluated based on factors such as discounted cash flows and the financial condition and near-term and long-term prospects of the issue or issuer and were determined to have adequate resources to fulfill contractual obligations. Of the $160 million, $77 million are related to below investment grade fixed income securities and $22 million are related to equity securities. Of these amounts, $6 million are related to below investment grade fixed income securities that had been in an unrealized loss position greater than or equal to 20% of amortized cost for a period of twelve or more consecutive months as of September 30, 2015.

ABS, RMBS and CMBS in an unrealized loss position were evaluated based on actual and projected collateral losses relative to the securities’ positions in the respective securitization trusts, security specific expectations of cash flows, and credit ratings. This evaluation also takes into consideration credit enhancement, measured in terms of (i) subordination from other classes of securities in the trust that are contractually obligated to absorb losses before the class of security the Company owns, (ii) the expected impact of other structural features embedded in the securitization trust beneficial to the class of securities the Company owns, such as overcollateralization and excess spread, and (iii) for ABS and RMBS in an unrealized loss position, credit enhancements from reliable bond insurers, where applicable. Municipal bonds in an unrealized loss position were evaluated based on the underlying credit quality of the primary obligator, obligation type and quality of the underlying assets. Unrealized losses on equity securities are primarily related to temporary equity market fluctuations of securities that are expected to recover.

As of September 30, 2015, the Company has not made the decision to sell and it is not more likely than not the Company will be required to sell fixed income securities with unrealized losses before recovery of the amortized cost basis. As of September 30, 2015, the Company had the intent and ability to hold equity securities with unrealized losses for a period of time sufficient for them to recover.

Limited partnerships

As of September 30, 2015 and December 31, 2014, the carrying value of equity method limited partnerships totaled $1.74 billion and $1.52 billion, respectively. The Company recognizes an impairment loss for equity method limited partnerships when evidence demonstrates that the loss is other than temporary. Evidence of a loss in value that is other than temporary may include the absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain a level of earnings that would justify the carrying amount of the investment.

As of September 30, 2015 and December 31, 2014, the carrying value for cost method limited partnerships was $526 million and $508 million, respectively. To determine if an other-than-temporary impairment has occurred, the Company evaluates whether an impairment indicator has occurred in the period that may have a significant adverse effect on the carrying value of the investment. Impairment indicators may include: significantly reduced valuations of the investments held by the limited partnerships; actual recent cash flows received being significantly less than expected cash flows; reduced valuations based on financing completed at a lower value; completed sale of a material underlying investment at a price significantly lower than expected; or any other adverse events since the last financial statements received that might affect the fair value of the investee’s capital. Additionally, the Company’s portfolio monitoring process includes a quarterly review of all cost method limited partnerships to identify instances where the net asset value is below established thresholds for certain periods of time, as well as investments that are performing below expectations, for further impairment consideration. If a cost method limited partnership is other-than-temporarily impaired, the carrying value is written down to fair value, generally estimated to be equivalent to the reported net asset value of the fund.

Mortgage loans

Mortgage loans are evaluated for impairment on a specific loan basis through a quarterly credit monitoring process and review of key credit quality indicators. Mortgage loans are considered impaired when it is probable that the Company will not collect the contractual principal and interest. Valuation allowances are established for impaired loans to reduce the carrying value to the fair value of the collateral less costs to sell or the present value of the loan’s expected future repayment cash flows discounted at the loan’s original effective interest rate. Impaired mortgage loans may not have a valuation allowance when the fair value of the collateral less costs to sell is higher than the carrying value. Valuation allowances are adjusted for subsequent changes in the fair value of the collateral less costs to sell. Mortgage loans are charged off against their corresponding valuation allowances when there is no reasonable expectation of recovery. The impairment evaluation is non-statistical in respect to the aggregate portfolio but considers facts and circumstances attributable to each loan. It is not considered probable that additional impairment losses, beyond those identified on a specific loan basis, have been incurred as of September 30, 2015.

Accrual of income is suspended for mortgage loans that are in default or when full and timely collection of principal and interest payments is not probable. Cash receipts on mortgage loans on nonaccrual status are generally recorded as a reduction of carrying value.

Debt service coverage ratio is considered a key credit quality indicator when mortgage loans are evaluated for impairment. Debt service coverage ratio represents the amount of estimated cash flows from the property available to the borrower to meet principal and interest payment obligations. Debt service coverage ratio estimates are updated annually or more frequently if conditions are warranted based on the Company’s credit monitoring process.

The following table reflects the carrying value of non-impaired fixed rate and variable rate mortgage loans summarized by debt service coverage ratio distribution.



($ in millions)	September 30, 2015						December 31, 2014
Debt service coverage ratio distribution	Fixed rate mortgage loans		Variable rate mortgage loans		Total		Fixed rate mortgage loans		Variable rate mortgage loans		Total
Below 1.0	$	97	$	—	$	97	$	110	$	—	$	110
1.0 - 1.25	381		—		381		387		—		387
1.26 - 1.50	1,173		—		1,173		1,118		1		1,119
Above 1.50	2,166		1		2,167		2,054		—		2,054
Total non-impaired mortgage loans	$	3,817	$	1	$	3,818	$	3,669	$	1	$	3,670

Mortgage loans with a debt service coverage ratio below 1.0 that are not considered impaired primarily relate to instances where the borrower has the financial capacity to fund the revenue shortfalls from the properties for the foreseeable term, the decrease in cash flows from the properties is considered temporary, or there are other risk mitigating circumstances such as additional collateral, escrow balances or borrower guarantees.

The net carrying value of impaired mortgage loans is as follows:



($ in millions)	September 30, 2015		December 31, 2014
Impaired mortgage loans with a valuation allowance	$	9	$	16
Impaired mortgage loans without a valuation allowance	—		—
Total impaired mortgage loans	$	9	$	16
Valuation allowance on impaired mortgage loans	$	7	$	8

The average balance of impaired loans was $12 million and $29 million for the nine months ended September 30, 2015 and 2014, respectively.

The rollforward of the valuation allowance on impaired mortgage loans is as follows:



($ in millions)	Three months ended September 30,					Nine months ended September 30,
	2015		2014			2015			2014
Beginning balance	$	7	$	9		$	8		$	21
Net decrease in valuation allowance	—		(2		)	—			(6		)
Charge offs	—		—			(1		)	(8		)
Ending balance	$	7	$	7		$	7		$	7

Payments on all loans were current as of September 30, 2015 and December 31, 2014.

Fair Value of Assets and Liabilities

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The hierarchy for inputs used in determining fair value maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Assets and liabilities recorded on the Condensed Consolidated Statements of Financial Position at fair value are categorized in the fair value hierarchy based on the observability of inputs to the valuation techniques as follows:

Level 1: Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company can access.

Level 2: Assets and liabilities whose values are based on the following:


(a)	Quoted prices for similar assets or liabilities in active markets;


(b)	Quoted prices for identical or similar assets or liabilities in markets that are not active; or


(c)	Valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability.

Level 3: Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Unobservable inputs reflect the Company’s estimates of the assumptions that market participants would use in valuing the assets and liabilities.

The availability of observable inputs varies by instrument. In situations where fair value is based on internally developed pricing models or inputs that are unobservable in the market, the determination of fair value requires more judgment. The degree of judgment exercised by the Company in determining fair value is typically greatest for instruments categorized in Level 3. In many instances, valuation inputs used to measure fair value fall into different levels of the fair value hierarchy. The category level in the fair value hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company uses prices and inputs that are current as of the measurement date, including during periods of market disruption. In periods of market disruption, the ability to observe prices and inputs may be reduced for many instruments.

The Company is responsible for the determination of fair value and the supporting assumptions and methodologies. The Company gains assurance that assets and liabilities are appropriately valued through the execution of various processes and controls designed to ensure the overall reasonableness and consistent application of valuation methodologies, including inputs and assumptions, and compliance with accounting standards. For fair values received from third parties or internally estimated, the Company’s processes and controls are designed to ensure that the valuation methodologies are appropriate and consistently applied, the inputs and assumptions are reasonable and consistent with the objective of determining fair value, and the fair values are accurately recorded. For example, on a continuing basis, the Company assesses the reasonableness of individual fair values that have stale security prices or that exceed certain thresholds as compared to previous fair values received from valuation service providers or brokers or derived from internal models. The Company performs procedures to understand and assess the methodologies, processes and controls of valuation service providers. In addition, the Company may validate the reasonableness of fair values by comparing information obtained from valuation service providers or brokers to other third party valuation sources for selected securities. The Company performs ongoing price validation procedures such as back-testing of actual sales, which corroborate the various inputs used in internal models to market observable data. When fair value determinations are expected to be more variable, the Company validates them through reviews by members of management who have relevant expertise and who are independent of those charged with executing investment transactions.

The Company has two types of situations where investments are classified as Level 3 in the fair value hierarchy. The first is where specific inputs significant to the fair value estimation models are not market observable. This primarily occurs in the Company’s use of broker quotes to value certain securities where the inputs have not been corroborated to be market observable, and the use of valuation models that use significant non-market observable inputs.

The second situation where the Company classifies securities in Level 3 is where quotes continue to be received from independent third-party valuation service providers and all significant inputs are market observable; however, there has been a significant decrease in the volume and level of activity for the asset when compared to normal market activity such that the degree of market observability has declined to a point where categorization as a Level 3 measurement is considered appropriate. The indicators considered in determining whether a significant decrease in the volume and level of activity for a specific asset has occurred include the level of new issuances in the primary market, trading volume in the secondary market, the level of credit spreads over historical levels, applicable bid-ask spreads, and price consensus among market participants and other pricing sources.

Certain assets are not carried at fair value on a recurring basis, including investments such as mortgage loans, limited partnership interests, bank loans and policy loans. Accordingly, such investments are only included in the fair value hierarchy disclosure when the investment is subject to remeasurement at fair value after initial recognition and the resulting remeasurement is reflected in the condensed consolidated financial statements. In addition, derivatives embedded in fixed income securities are not disclosed in the hierarchy as free-standing derivatives since they are presented with the host contracts in fixed income securities.

In determining fair value, the Company principally uses the market approach which generally utilizes market transaction data for the same or similar instruments. To a lesser extent, the Company uses the income approach which involves determining fair values from discounted cash flow methodologies. For the majority of Level 2 and Level 3 valuations, a combination of the market and income approaches is used.

Summary of significant valuation techniques for assets and liabilities measured at fair value on a recurring basis

Level 1 measurements


•	Fixed income securities: Comprise certain U.S. Treasury fixed income securities. Valuation is based on unadjusted quoted prices for identical assets in active markets that the Company can access.


•	Equity securities: Comprise actively traded, exchange-listed equity securities. Valuation is based on unadjusted quoted prices for identical assets in active markets that the Company can access.


•	Short-term: Comprise U.S. Treasury bills valued based on unadjusted quoted prices for identical assets in active markets that the Company can access and actively traded money market funds that have daily quoted net asset values for identical assets that the Company can access.


•	Separate account assets: Comprise actively traded mutual funds that have daily quoted net asset values for identical assets that the Company can access. Net asset values for the actively traded mutual funds in which the separate account assets are invested are obtained daily from the fund managers.

Level 2 measurements


•	Fixed income securities:

U.S. government and agencies: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads.

Municipal: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads.

Corporate, including privately placed: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads. Also included are privately placed securities valued using a discounted cash flow model that is widely accepted in the financial services industry and uses market observable inputs and inputs derived principally from, or corroborated by, observable market data. The primary inputs to the discounted cash flow model include an interest rate yield curve, as well as published credit spreads for similar assets in markets that are not active that incorporate the credit quality and industry sector of the issuer.

Foreign government: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads.

ABS and RMBS: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, prepayment speeds, collateral performance and credit spreads. Certain ABS are valued based on non-binding broker quotes whose inputs have been corroborated to be market observable.

CMBS: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, collateral performance and credit spreads.

Redeemable preferred stock: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, underlying stock prices and credit spreads.


•	Equity securities: The primary inputs to the valuation include quoted prices or quoted net asset values for identical or similar assets in markets that are not active.


•	Short-term: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads. For certain short-term investments, amortized cost is used as the best estimate of fair value.


•	Other investments: Free-standing exchange listed derivatives that are not actively traded are valued based on quoted prices for identical instruments in markets that are not active.

OTC derivatives, including interest rate swaps, foreign currency swaps, foreign exchange forward contracts, certain options and certain credit default swaps, are valued using models that rely on inputs such as interest rate yield curves, currency rates, and counterparty credit spreads that are observable for substantially the full term of the contract. The valuation techniques underlying the models are widely accepted in the financial services industry and do not involve significant judgment.

Level 3 measurements


•	Fixed income securities:

Municipal: Comprise municipal bonds that are not rated by third party credit rating agencies but are rated by the National Association of Insurance Commissioners (“NAIC”). The primary inputs to the valuation of these municipal bonds include quoted prices for identical or similar assets in markets that exhibit less liquidity relative to those markets supporting Level 2 fair value measurements, contractual cash flows, benchmark yields and credit spreads. Also included are municipal bonds valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. Also includes auction rate securities (“ARS”) primarily backed by student loans that have become illiquid due to failures in the auction market and are valued using a discounted cash flow model that is widely accepted in the financial services industry and uses significant non-market observable inputs, including the anticipated date liquidity will return to the market.

Corporate, including privately placed: Primarily valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. Also included are equity-indexed notes which are valued using a discounted cash flow model that is widely accepted in the financial services industry and uses significant non-market observable inputs, such as volatility. Other inputs include an interest rate yield curve, as well as published credit spreads for similar assets that incorporate the credit quality and industry sector of the issuer.

ABS, RMBS and CMBS: Valued based on non-binding broker quotes received from brokers who are familiar with the investments and where the inputs have not been corroborated to be market observable.


•	Equity securities: The primary inputs to the valuation include quoted prices or quoted net asset values for identical or similar assets in markets that exhibit less liquidity relative to those markets supporting Level 2 fair value measurements.

•

Other investments: Certain OTC derivatives, such as interest rate caps, certain credit default swaps and certain options (including swaptions), are valued using models that are widely accepted in the financial services industry. These are categorized as Level 3 as a result of the significance of non-market observable inputs such as volatility. Other primary inputs include interest rate yield curves and credit spreads.

•

Contractholder funds: Derivatives embedded in certain life and annuity contracts are valued internally using models widely accepted in the financial services industry that determine a single best estimate of fair value for the embedded derivatives within a block of contractholder liabilities. The models primarily use stochastically determined cash flows based on the contractual elements of embedded derivatives, projected option cost and applicable market data, such as interest rate yield curves and equity index volatility assumptions. These are categorized as Level 3 as a result of the significance of non-market observable inputs.

Assets and liabilities measured at fair value on a non-recurring basis

Mortgage loans written-down to fair value in connection with recognizing impairments are valued based on the fair value of the underlying collateral less costs to sell. Limited partnership interests written-down to fair value in connection with recognizing other-than-temporary impairments are valued using net asset values.

The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring and non-recurring basis as of September 30, 2015.



($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Counterparty and cash collateral netting			Balance as of September 30, 2015
Assets
Fixed income securities:
U.S. government and agencies	$	136		$	440		$	—					$	576
Municipal	—			2,437			89						2,526
Corporate	—			18,368			535						18,903
Foreign government	—			430			—						430
ABS	—			1,590			131						1,721
RMBS	—			489			—						489
CMBS	—			512			—						512
Redeemable preferred stock	—			16			—						16
Total fixed income securities	136			24,282			755						25,173
Equity securities	1,300			6			64						1,370
Short-term investments	51			886			—						937
Other investments: Free-standing derivatives	—			35			1			$	(11	)	25
Separate account assets	3,677			—			—						3,677
Other assets	—			—			1						1
Total recurring basis assets	5,164			25,209			821			(11		)	31,183
Non-recurring basis ⁽¹⁾	—			—			7			—			7
Total assets at fair value	$	5,164		$	25,209		$	828		$	(11	)	$	31,190
% of total assets at fair value	16.5		%	80.8		%	2.7		%	—		%	100		%

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	—		$	(295	)				$	(295	)
Other liabilities: Free-standing derivatives	(2		)	(1		)	(9		)	$	(1	)	(13		)
Total liabilities at fair value	$	(2	)	$	(1	)	$	(304	)	$	(1	)	$	(308	)
% of total liabilities at fair value	0.7		%	0.3		%	98.7		%	0.3		%	100		%

____________


⁽¹⁾	Includes $7 million of other investments written-down to fair value in connection with recognizing other-than-temporary impairments.

The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2014.



($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Counterparty and cash collateral netting			Balance as of December 31, 2014
Assets
Fixed income securities:
U.S. government and agencies	$	147		$	623		$	—					$	770
Municipal	—			3,556			106						3,662
Corporate	—			20,193			792						20,985
Foreign government	—			735			—						735
ABS	—			636			129						765
RMBS	—			605			—						605
CMBS	—			578			1						579
Redeemable preferred stock	—			16			—						16
Total fixed income securities	147			26,942			1,028						28,117
Equity securities	927			6			37						970
Short-term investments	90			767			—						857
Other investments: Free-standing derivatives	—			90			2			$	(2	)	90
Separate account assets	4,396			—			—						4,396
Other assets	1			—			1						2
Total recurring basis assets	5,561			27,805			1,068			(2		)	34,432
Non-recurring basis ⁽¹⁾	—			—			9						9
Total assets at fair value	$	5,561		$	27,805		$	1,077		$	(2	)	$	34,441
% of total assets at fair value	16.2		%	80.7		%	3.1		%	—		%	100.0		%

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	—		$	(323	)				$	(323	)
Other liabilities: Free-standing derivatives	—			(24		)	(9		)	$	2		(31		)
Total liabilities at fair value	$	—		$	(24	)	$	(332	)	$	2		$	(354	)
% of total liabilities at fair value	—		%	6.8		%	93.8		%	(0.6		)%	100.0		%

____________


⁽¹⁾	Includes $6 million of mortgage loans and $3 million of limited partnership interests written-down to fair value in connection with recognizing other-than-temporary impairments.

The following table summarizes quantitative information about the significant unobservable inputs used in Level 3 fair value measurements.



($ in millions)	Fair value			Valuation technique	Unobservable input	Range	Weighted average
September 30, 2015
Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options	$	(242	)	Stochastic cash flow model	Projected option cost	1.0 - 2.2%	1.76	%
December 31, 2014
Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options	$	(278	)	Stochastic cash flow model	Projected option cost	1.0 - 2.0%	1.76	%

The embedded derivatives are equity-indexed and forward starting options in certain life and annuity products that provide customers with interest crediting rates based on the performance of the S&P 500. If the projected option cost increased (decreased), it would result in a higher (lower) liability fair value.

As of September 30, 2015 and December 31, 2014, Level 3 fair value measurements of fixed income securities total $755 million and $1.03 billion, respectively, and include $635 million and $914 million, respectively, of securities valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. The Company does not develop the unobservable inputs used in measuring fair value; therefore, these are not included in the table above. However, an increase (decrease) in credit spreads for fixed income securities valued based on non-binding broker quotes would result in a lower (higher) fair value.

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the three months ended September 30, 2015.



($ in millions)				Total gains (losses) included in:
	Balance as of June 30, 2015			Net income⁽¹⁾			OCI			Transfers into Level 3			Transfers out of Level 3
Assets
Fixed income securities:
Municipal	$	101		$	2		$	—		$	—		$	—
Corporate	569			10			(9		)	—			(23		)
ABS	105			—			(1		)	15			—
Total fixed income securities	775			12			(10		)	15			(23		)
Equity securities	46			—			(1		)	—			—
Free-standing derivatives, net	(7		)	(1		)	—			—			—
Other assets	1			—			—			—			—
Total recurring Level 3 assets	$	815		$	11		$	(11	)	$	15		$	(23	)

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	(315	)	$	19		$	—		$	—		$	—
Total recurring Level 3 liabilities	$	(315	)	$	19		$	—		$	—		$	—

	Purchases			Sales			Issues			Settlements			Balance as of September 30, 2015
Assets
Fixed income securities:
Municipal	$	—		$	(14	)	$	—		$	—		$	89
Corporate	1			(11		)	—			(2		)	535
ABS	27			—			—			(15		)	131
Total fixed income securities	28			(25		)	—			(17		)	755
Equity securities	19			—			—			—			64
Free-standing derivatives, net	—			—			—			—			(8		)	⁽²⁾
Other assets	—			—			—			—			1
Total recurring Level 3 assets	$	47		$	(25	)	$	—		$	(17	)	$	812

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	—		$	—		$	1		$	(295	)
Total recurring Level 3 liabilities	$	—		$	—		$	—		$	1		$	(295	)

____________


⁽¹⁾	The effect to net income totals $30 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $8 million in realized capital gains and losses, $3 million in net investment income, $27 million in interest credited to contractholder funds and $(8) million in contract benefits.


⁽²⁾	Comprises $1 million of assets and $9 million of liabilities.

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the nine months ended September 30, 2015.



($ in millions)				Total gains (losses) included in:
	Balance as of December 31, 2014			Net income⁽¹⁾			OCI			Transfers into Level 3			Transfers out of Level 3
Assets
Fixed income securities:
Municipal	$	106		$	3		$	(2	)	$	—		$	—
Corporate	792			11			(15		)	2			(150		)
ABS	129			(1		)	1			21			(27		)
CMBS	1			—			(1		)	—			—
Total fixed income securities	1,028			13			(17		)	23			(177		)
Equity securities	37			—			—			—			—
Free-standing derivatives, net	(7		)	—			—			—			—
Other assets	1			—			—			—			—
Total recurring Level 3 assets	$	1,059		$	13		$	(17	)	$	23		$	(177	)

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	(323	)	$	24		$	—		$	—		$	—
Total recurring Level 3 liabilities	$	(323	)	$	24		$	—		$	—		$	—

	Purchases			Sales			Issues			Settlements			Balance as of September 30, 2015
Assets
Fixed income securities:
Municipal	$	—		$	(17	)	$	—		$	(1	)	$	89
Corporate	20			(58		)	—			(67		)	535
ABS	27			—			—			(19		)	131
CMBS	—			—			—			—			—
Total fixed income securities	47			(75		)	—			(87		)	755
Equity securities	27			—			—			—			64
Free-standing derivatives, net	—			—			—			(1		)	(8		)	⁽²⁾
Other assets	—			—			—			—			1
Total recurring Level 3 assets	$	74		$	(75	)	$	—		$	(88	)	$	812

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	—		(1		)	5			$	(295	)
Total recurring Level 3 liabilities	$	—		$	—		$	(1	)	$	5		$	(295	)

____________


⁽¹⁾	The effect to net income totals $37 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $4 million in realized capital gains and losses, $9 million in net investment income, $32 million in interest credited to contractholder funds and $(8) million in contract benefits.


⁽²⁾	Comprises $1 million of assets and $9 million of liabilities.

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the three months ended September 30, 2014.



($ in millions)				Total gains (losses) included in:
	Balance as of June 30, 2014			Net income⁽¹⁾			OCI			Transfers into Level 3			Transfers out of Level 3
Assets
Fixed income securities:
Municipal	$	102		$	—		$	—		$	—		$	—
Corporate	883			3			(13		)	18			—
ABS	105			—			1			—			—
CMBS	5			—			—			—			—
Total fixed income securities	1,095			3			(12		)	18			—
Equity securities	7			—			—			—			—
Free-standing derivatives, net	(5		)	—			—			—			—
Other assets	1			—			—			—			—
Total recurring Level 3 assets	$	1,098		$	3		$	(12	)	$	18		$	—

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	(331	)	$	9		$	—		$	—		$	—
Total recurring Level 3 liabilities	$	(331	)	$	9		$	—		$	—		$	—

	Purchases			Sales			Issues			Settlements			Balance as of September 30, 2014
Assets
Fixed income securities:
Municipal	$	—		$	(1	)	$	—		$	—		$	101
Corporate	4			(3		)	—			(53		)	839
ABS	10			—			—			(2		)	114
CMBS	—			—			—			—			5
Total fixed income securities	14			(4		)	—			(55		)	1,059
Equity securities	30			—			—			—			37
Free-standing derivatives, net	—			—			—			(1		)	(6		)	⁽²⁾
Other assets	—			—			—			—			1
Total recurring Level 3 assets	$	44		$	(4	)	$	—		$	(56	)	$	1,091

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	—		$	—		$	1		$	(321	)
Total recurring Level 3 liabilities	$	—		$	—		$	—		$	1		$	(321	)

__________


⁽¹⁾	The effect to net income totals $12 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $3 million in net investment income, $5 million in interest credited to contractholder funds and $4 million in contract benefits.


⁽²⁾	Comprises $3 million of assets and $9 million of liabilities.

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the nine months ended September 30, 2014.



($ in millions)				Total gains (losses)included in:
	Balance as of December 31, 2013			Net income⁽¹⁾			OCI			Transfers into Level 3			Transfers out of Level 3
Assets
Fixed income securities:
Municipal	$	119		$	(1	)	$	3		$	—		$	(17	)
Corporate	1,008			14			(4		)	18			(26		)
ABS	112			—			2			—			(12		)
CMBS	1			—			—			—			—
Redeemable preferred stock	1			—			—			—			—
Total fixed income securities	1,241			13			1			18			(55		)
Equity securities	6			—			—			—			—
Free-standing derivatives, net	(5		)	1			—			—			—
Other assets	—			1			—			—			—
Assets held for sale	362			(1		)	2			4			(2		)
Total recurring Level 3 assets	$	1,604		$	14		$	3		$	22		$	(57	)

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	(307	)	$	(5	)	$	—		$	—		$	—
Liabilities held for sale	(246		)	17			—			—			—
Total recurring Level 3 liabilities	$	(553	)	$	12		$	—		$	—		$	—

	Sold in LBL disposition ⁽³⁾			Purchases/Issues⁽⁴⁾			Sales			Settlements			Balance as of September 30, 2014
Assets
Fixed income securities:
Municipal	$	—		$	—		$	(3	)	$	—		$	101
Corporate	—			16			(92		)	(95		)	839
ABS	—			21			—			(9		)	114
CMBS	4			—			—			—			5
Redeemable preferred stock	—			—			(1		)	—			—
Total fixed income securities	4			37			(96		)	(104		)	1,059
Equity securities	—			31			—			—			37
Free-standing derivatives, net	—			2			—			(4		)	(6		)	⁽²⁾
Other assets	—			—			—			—			1
Assets held for sale	(351		)	—			(8		)	(6		)	—
Total recurring Level 3 assets	$	(347	)	$	70		$	(104	)	$	(114	)	$	1,091

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	(13	)	$	—		$	4		$	(321	)
Liabilities held for sale	230			(4		)	—			3			—
Total recurring Level 3 liabilities	$	230		$	(17	)	$	—		$	7		$	(321	)

__________


⁽¹⁾	The effect to net income totals $26 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $8 million in realized capital gains and losses, $9 million in net investment income, $5 million in interest credited to contractholder funds, $8 million in contract benefits and $(4) million in loss on disposition of operations.


⁽²⁾	Comprises $3 million of assets and $9 million of liabilities.


⁽³⁾	Includes transfers from held for sale that took place in first quarter 2014 of $4 million for CMBS and $(4) million for Assets held for sale.


⁽⁴⁾	Represents purchases for assets and issues for liabilities.

Transfers between level categorizations may occur due to changes in the availability of market observable inputs, which generally are caused by changes in market conditions such as liquidity, trading volume or bid-ask spreads. Transfers between level categorizations may also occur due to changes in the valuation source. For example, in situations where a fair value quote is not provided by the Company’s independent third-party valuation service provider and as a result the price is stale or has been replaced with a broker quote whose inputs have not been corroborated to be market observable, the security is transferred into Level 3. Transfers in and out of level categorizations are reported as having occurred at the beginning of the quarter in which the transfer occurred. Therefore, for all transfers into Level 3, all realized and changes in unrealized gains and losses in the quarter of transfer are reflected in the Level 3 rollforward table.

There were no transfers between Level 1 and Level 2 during the three months and nine months ended September 30, 2015 or 2014.

Transfers into Level 3 during the three months and nine months ended September 30, 2015 and 2014 included situations where a fair value quote was not provided by the Company’s independent third-party valuation service provider and as a result the price was stale or had been replaced with a broker quote where the inputs had not been corroborated to be market observable resulting in the security being classified as Level 3. Transfers out of Level 3 during the three months and nine months ended September 30, 2015 and 2014 included situations where a broker quote was used in the prior period and a fair value quote became available from the Company’s independent third-party valuation service provider in the current period. A quote utilizing the new pricing source was not available as of the prior period, and any gains or losses related to the change in valuation source for individual securities were not significant.

The following table provides the change in unrealized gains and losses included in net income for Level 3 assets and liabilities held as of September 30.



($ in millions)	Three months ended September 30,					Nine months ended September 30,
	2015			2014		2015		2014
Assets
Fixed income securities:
Municipal	$	—		$	—	$	—	$	(1	)
Corporate	3			3		8		8
ABS	—			—		1		—
CMBS	—			—		—		(1		)
Total fixed income securities	3			3		9		6
Equity securities	(1		)	—		—		—
Free-standing derivatives, net	(1		)	—		—		6
Other assets	—			—		—		1
Assets held for sale	—			—		—		(1		)
Total recurring Level 3 assets	$	1		$	3	$	9	$	12

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	19		$	9	$	24	$	(5	)
Liabilities held for sale	—			—		—		17
Total recurring Level 3 liabilities	$	19		$	9	$	24	$	12

The amounts in the table above represent the change in unrealized gains and losses included in net income for the period of time that the asset or liability was determined to be in Level 3. These gains and losses total $20 million for the three months ended September 30, 2015 and are reported as follows: $(2) million in realized capital gains and losses, $3 million in net investment income, $27 million in interest credited to contractholder funds and $(8) million in contract benefits. These gains and losses total $12 million for the three months ended September 30, 2014 and are reported as follows: $3 million in net investment income, $5 million in interest credited to contractholder funds and $4 million in contract benefits. These gains and losses total $33 million for the nine months ended September 30, 2015 and are reported as follows: $(2) million in realized capital gains and losses, $11 million in net investment income, $32 million in interest credited to contractholder funds and $(8) million in contract benefits. These gains and losses total $24 million for the nine months ended September 30, 2014 and are reported as follows: $5 million in realized capital gains and losses, $6 million in net investment income, $5 million in interest credited to contractholder funds and $8 million in contract benefits.

Presented below are the carrying values and fair value estimates of financial instruments not carried at fair value.

Financial assets



($ in millions)	September 30, 2015				December 31, 2014
	Carrying value		Fair value		Carrying value		Fair value
Mortgage loans	$	3,827	$	4,020	$	3,686	$	3,922
Cost method limited partnerships	526		692		508		686
Bank loans	510		507		431		427
Agent loans	416		406		368		361
Notes due from related party	275		275		275		275

The fair value of mortgage loans is based on discounted contractual cash flows or, if the loans are impaired due to credit reasons, the fair value of collateral less costs to sell. Risk adjusted discount rates are selected using current rates at which similar loans would be made to borrowers with similar characteristics, using similar types of properties as collateral. The fair value of cost method limited partnerships is determined using reported net asset values of the underlying funds. The fair value of bank loans, which are reported in other investments, is based on broker quotes from brokers familiar with the loans and current market conditions. The fair value of agent loans, which are reported in other investments, is based on discounted cash flow calculations that use discount rates with a spread over U.S. Treasury rates. Assumptions used in developing estimated cash flows and discount rates consider the loan’s credit and liquidity risks. The fair value of notes due from related party, which are reported in other investments, is based on discounted cash flow calculations using current interest rates for instruments with comparable terms. The fair value measurements for mortgage loans, cost method limited partnerships, bank loans, agent loans, notes due from related party and assets held for sale are categorized as Level 3.

Financial liabilities



($ in millions)	September 30, 2015				December 31, 2014
	Carrying value		Fair value		Carrying value		Fair value
Contractholder funds on investment contracts	$	12,682	$	13,189	$	13,708	$	14,364
Notes due to related parties	275		275		275		275
Liability for collateral	503		503		510		510

The fair value of contractholder funds on investment contracts is based on the terms of the underlying contracts utilizing prevailing market rates for similar contracts adjusted for the Company’s own credit risk. Deferred annuities included in contractholder funds are valued using discounted cash flow models that incorporate market value margins, which are based on the cost of holding economic capital, and the Company’s own credit risk. Immediate annuities without life contingencies and fixed rate funding agreements are valued at the present value of future benefits using market implied interest rates which include the Company’s own credit risk. The fair value measurements for contractholder funds on investment contracts are categorized as Level 3.

The fair value of notes due to related parties is based on discounted cash flow calculations using current interest rates for instruments with comparable terms and considers the Company’s own credit risk. The liability for collateral is valued at carrying value due to its short-term nature. The fair value measurements for liability for collateral are categorized as Level 2. The fair value measurements for notes due to related parties are categorized as Level 3.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The Company uses derivatives for risk reduction and to increase investment portfolio returns through asset replication. Risk reduction activity is focused on managing the risks with certain assets and liabilities arising from the potential adverse impacts from changes in risk-free interest rates, changes in equity market valuations, increases in credit spreads and foreign currency fluctuations.

Asset-liability management is a risk management strategy that is principally employed to balance the respective interest-rate sensitivities of the Company’s assets and liabilities. Depending upon the attributes of the assets acquired and liabilities issued, derivative instruments such as interest rate swaps, caps, swaptions and futures are utilized to change the interest rate characteristics of existing assets and liabilities to ensure the relationship is maintained within specified ranges and to reduce exposure to rising or falling interest rates. The Company uses futures and options for hedging the equity exposure contained in its equity indexed life and annuity product contracts that offer equity returns to contractholders. In addition, the Company uses interest rate swaps to hedge interest rate risk inherent in funding agreements. The Company uses foreign currency swaps and forwards primarily to reduce the foreign currency risk associated with holding foreign currency denominated investments. Credit default swaps are typically used to mitigate the credit risk within the Company’s fixed income portfolio.

The Company may also use derivatives to manage the risk associated with corporate actions, including the sale of a business. During 2014, swaptions were utilized to hedge the expected proceeds from the disposition of Lincoln Benefit Life Company (“LBL”).

Asset replication refers to the “synthetic” creation of assets through the use of derivatives and primarily investment grade host bonds to replicate securities that are either unavailable in the cash markets or more economical to acquire in synthetic form. The Company replicates fixed income securities using a combination of a credit default swap or a foreign currency forward contract and one or more highly rated fixed income securities to synthetically replicate the economic characteristics of one or more cash market securities.

The Company also has derivatives embedded in non-derivative host contracts that are required to be separated from the host contracts and accounted for at fair value with changes in fair value of embedded derivatives reported in net income. The Company’s primary embedded derivatives are equity options in life and annuity product contracts, which provide equity returns to contractholders; conversion options in fixed income securities, which provide the Company with the right to convert the instrument into a predetermined number of shares of common stock; credit default swaps in synthetic collateralized debt obligations, which provide enhanced coupon rates as a result of selling credit protection; and equity-indexed notes containing equity call options, which provide a coupon payout that is determined using one or more equity-based indices.

When derivatives meet specific criteria, they may be designated as accounting hedges and accounted for as fair value, cash flow, foreign currency fair value or foreign currency cash flow hedges. The Company designates certain of its interest rate and foreign currency swap contracts and certain investment risk transfer reinsurance agreements as fair value hedges when the hedging instrument is highly effective in offsetting the risk of changes in the fair value of the hedged item. The Company designates certain of its foreign currency swap contracts as cash flow hedges when the hedging instrument is highly effective in offsetting the exposure of variations in cash flows for the hedged risk that could affect net income. Amounts are reclassified to net investment income or realized capital gains and losses as the hedged item affects net income.

The notional amounts specified in the contracts are used to calculate the exchange of contractual payments under the agreements and are generally not representative of the potential for gain or loss on these agreements. However, the notional amounts specified in credit default swaps where the Company has sold credit protection represent the maximum amount of potential loss, assuming no recoveries.

Fair value, which is equal to the carrying value, is the estimated amount that the Company would receive or pay to terminate the derivative contracts at the reporting date. The carrying value amounts for OTC derivatives are further adjusted for the effects, if any, of enforceable master netting agreements and are presented on a net basis, by counterparty agreement, in the Condensed Consolidated Statements of Financial Position. For certain exchange traded and cleared derivatives, margin deposits are required as well as daily cash settlements of margin accounts. As of September 30, 2015, the Company pledged $11 million of cash as margin deposits.

For those derivatives which qualify for fair value hedge accounting, net income includes the changes in the fair value of both the derivative instrument and the hedged risk, and therefore reflects any hedging ineffectiveness. For cash flow hedges, gains and losses are amortized from accumulated other comprehensive income and are reported in net income in the same period the forecasted transactions being hedged impact net income.

Non-hedge accounting is generally used for “portfolio” level hedging strategies where the terms of the individual hedged items do not meet the strict homogeneity requirements to permit the application of hedge accounting. For non-hedge derivatives, net income includes changes in fair value and accrued periodic settlements, when applicable. With the exception of non-hedge derivatives used for asset replication and non-hedge embedded derivatives, all of the Company’s derivatives are evaluated for their ongoing effectiveness as either accounting hedge or non-hedge derivative financial instruments on at least a quarterly basis.

The following table provides a summary of the volume and fair value positions of derivative instruments as well as their reporting location in the Condensed Consolidated Statement of Financial Position as of September 30, 2015.



($ in millions, except number of contracts)		Volume⁽¹⁾
	Balance sheet location	Notional amount		Number of contracts	Fair value, net			Gross asset		Gross liability
Asset derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements	Other investments	$	18	n/a	$	4		$	4	$	—
Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate cap agreements	Other investments	135		n/a	1			1		—
Financial futures contracts	Other assets	—		330	—			—		—
Equity and index contracts
Options	Other investments	—		3,820	21			21		—
Financial futures contracts	Other assets	—		59	—			—		—
Foreign currency contracts
Foreign currency forwards	Other investments	60		n/a	—			—		—
Credit default contracts
Credit default swaps – buying protection	Other investments	29		n/a	2			2		—
Credit default swaps – selling protection	Other investments	80		n/a	1			1		—
Other contracts
Other contracts	Other assets	3		n/a	1			1		—
Subtotal		307		4,209	26			26		—
Total asset derivatives		$	325	4,209	$	30		$	30	$	—

Liability derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements	Other liabilities & accrued expenses	$	56	n/a	$	7		$	7	$	—
Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate swap agreements	Other liabilities & accrued expenses	85		n/a	—			—		—
Equity and index contracts
Options and futures	Other liabilities & accrued expenses	—		5,239	(3		)	—		(3		)
Foreign currency contracts
Foreign currency forwards	Other liabilities & accrued expenses	10		n/a	—			—		—
Embedded derivative financial instruments
Guaranteed accumulation benefits	Contractholder funds	496		n/a	(39		)	—		(39		)
Guaranteed withdrawal benefits	Contractholder funds	342		n/a	(14		)	—		(14		)
Equity-indexed and forward starting options in life and annuity product contracts	Contractholder funds	1,773		n/a	(242		)	—		(242		)
Other embedded derivative financial instruments	Contractholder funds	85		n/a	—			—		—
Credit default contracts
Credit default swaps – buying protection	Other liabilities & accrued expenses	15		n/a	—			—		—
Credit default swaps – selling protection	Other liabilities & accrued expenses	100		n/a	(9		)	—		(9		)
Subtotal		2,906		5,239	(307		)	—		(307		)
Total liability derivatives		2,962		5,239	(300		)	$	7	$	(307	)
Total derivatives		$	3,287	9,448	$	(270	)

___________


⁽¹⁾	Volume for OTC derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a = not applicable)

The following table provides a summary of the volume and fair value positions of derivative instruments as well as their reporting location in the Consolidated Statement of Financial Position as of December 31, 2014.



($ in millions, except number of contracts)		Volume ⁽¹⁾
	Balance sheet location	Notional amount		Number of contracts	Fair value, net			Gross asset		Gross liability
Asset derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements	Other investments	$	85	n/a	$	3		$	3	$	—

Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate cap agreements	Other investments	163		n/a	2			2		—
Equity and index contracts
Options	Other investments	—		3,225	83			83		—
Financial futures contracts	Other assets	—		704	1			1		—
Foreign currency contracts
Foreign currency forwards	Other investments	57		n/a	—			—		—
Credit default contracts
Credit default swaps – buying protection	Other investments	19		n/a	—			—		—
Credit default swaps – selling protection	Other investments	80		n/a	2			2		—
Other contracts
Other contracts	Other assets	3		n/a	1			1		—
Subtotal		322		3,929	89			89		—
Total asset derivatives		$	407	3,929	$	92		$	92	$	—

Liability derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements	Other liabilities & accrued expenses	$	50	n/a	$	(1	)	$	—	$	(1	)
Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate swap agreements	Other liabilities & accrued expenses	85		n/a	1			1		—
Interest rate cap agreements	Other liabilities & accrued expenses	11		n/a	—			—		—
Financial futures contracts	Other liabilities & accrued expenses	—		200	—			—		—
Equity and index contracts
Options and futures	Other liabilities & accrued expenses	—		3,131	(22		)	—		(22		)
Foreign currency contracts
Foreign currency forwards	Other liabilities & accrued expenses	36		n/a	1			1		—
Embedded derivative financial instruments
Guaranteed accumulation benefits	Contractholder funds	615		n/a	(32		)	—		(32		)
Guaranteed withdrawal benefits	Contractholder funds	425		n/a	(13		)	—		(13		)
Equity-indexed and forward starting options in life and annuity product contracts	Contractholder funds	1,786		n/a	(278		)	—		(278		)
Other embedded derivative financial instruments	Contractholder funds	85		n/a	—			—		—
Credit default contracts
Credit default swaps – buying protection	Other liabilities & accrued expenses	49		n/a	(1		)	—		(1		)
Credit default swaps – selling protection	Other liabilities & accrued expenses	100		n/a	(9		)	—		(9		)
Subtotal		3,192		3,331	(353		)	2		(355		)
Total liability derivatives		3,242		3,331	(354		)	$	2	$	(356	)
Total derivatives		$	3,649	7,260	$	(262	)

____________


⁽¹⁾	Volume for OTC derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a = not applicable)

The following table provides gross and net amounts for the Company’s OTC derivatives, all of which are subject to enforceable master netting agreements.



($ in millions)				Offsets
	Gross amount			Counter- party netting			Cash collateral (received) pledged			Net amount on balance sheet			Securities collateral (received) pledged			Net amount
September 30, 2015
Asset derivatives	$	15		$	(7	)	$	(4	)	$	4		$	(1	)	$	3
Liability derivatives	(9		)	7			(8		)	(10		)	7			(3		)

December 31, 2014
Asset derivatives	$	7		$	(2	)	$	—		$	5		$	(4	)	$	1
Liability derivatives	(11		)	2			—			(9		)	7			(2		)

The following table provides a summary of the impacts of the Company’s foreign currency contracts in cash flow hedging relationships. Amortization of net gains from accumulated other comprehensive income related to cash flow hedges is expected to be a gain of $3 million during the next twelve months. There was no hedge ineffectiveness reported in realized gains and losses for the three months and nine months ended September 30, 2015 or 2014.



($ in millions)	Three months ended September 30,					Nine months ended September 30,
	2015		2014			2015			2014
Gain recognized in OCI on derivatives during the period	$	4	$	10		$	11		$	6
Gain (loss) recognized in OCI on derivatives during the term of the hedging relationship	11		(4		)	11			(4		)
Loss reclassified from AOCI into income (net investment income)	—		(1		)	(1		)	(1		)
Gain (loss) reclassified from AOCI into income (realized capital gains and losses)	—		—			3			(2		)

The following tables present gains and losses from valuation and settlements reported on derivatives not designated as accounting hedging instruments in the Condensed Consolidated Statements of Operations and Comprehensive Income. For the three months and nine months ended September 30, 2015 and 2014, the Company had no derivatives used in fair value hedging relationships.



($ in millions)	Realized capital gains and losses			Contract benefits			Interest credited to contractholder funds			Loss on disposition of operations			Total gain (loss) recognized in net income on derivatives
Three months ended September 30, 2015
Interest rate contracts	$	(1	)	$	—		$	—		$	—		$	(1	)
Equity and index contracts	11			—			(27		)	—			(16		)
Embedded derivative financial instruments	—			(8		)	28			—			20
Foreign currency contracts	3			—			—			—			3
Credit default contracts	2			—			—			—			2
Other contracts	—			—			(1		)	—			(1		)
Total	$	15		$	(8	)	$	—		$	—		$	7

Nine months ended September 30, 2015
Equity and index contracts	$	10		$	—		$	(23	)	$	—		$	(13	)
Embedded derivative financial instruments	—			(8		)	36			—			28
Foreign currency contracts	5			—			—			—			5
Credit default contracts	3			—			—			—			3
Total	$	18		$	(8	)	$	13		$	—		$	23

Three months ended September 30, 2014
Equity and index contracts	$	—		$	—		$	4		$	—		$	4
Embedded derivative financial instruments	—			4			6			—			10
Foreign currency contracts	4			—			—			—			4
Other contracts	—			—			(1		)	—			(1		)
Total	$	4		$	4		$	9		$	—		$	17

Nine months ended September 30, 2014
Interest rate contracts	$	(2	)	$	—		$	—		$	(4	)	$	(6	)
Equity and index contracts	—			—			25			—			25
Embedded derivative financial instruments	—			8			(5		)	—			3
Foreign currency contracts	4			—			—			—			4
Credit default contracts	7			—			—			—			7
Total	$	9		$	8		$	20		$	(4	)	$	33

The Company manages its exposure to credit risk by utilizing highly rated counterparties, establishing risk control limits, executing legally enforceable master netting agreements (“MNAs”) and obtaining collateral where appropriate. The Company uses MNAs for OTC derivative transactions that permit either party to net payments due for transactions and collateral is either pledged or obtained when certain predetermined exposure limits are exceeded. As of September 30, 2015, counterparties pledged $13 million in cash and securities to the Company, and the Company pledged $7 million in securities to counterparties which includes $7 million of collateral posted under MNAs for contracts containing credit-risk-contingent provisions that are in a liability position. The Company has not incurred any losses on derivative financial instruments due to counterparty nonperformance. Other derivatives, including futures and certain option contracts, are traded on organized exchanges which require margin deposits and guarantee the execution of trades, thereby mitigating any potential credit risk.

Counterparty credit exposure represents the Company’s potential loss if all of the counterparties concurrently fail to perform under the contractual terms of the contracts and all collateral, if any, becomes worthless. This exposure is measured by the fair value of OTC derivative contracts with a positive fair value at the reporting date reduced by the effect, if any, of legally enforceable master netting agreements.

The following table summarizes the counterparty credit exposure by counterparty credit rating as it relates to the Company’s OTC derivatives.



($ in millions)	September 30, 2015							December 31, 2014
Rating⁽¹⁾	Number of counter-parties	Notional amount ⁽²⁾		Credit exposure ⁽²⁾		Exposure, net of collateral⁽²⁾		Number of counter- parties	Notional amount ⁽²⁾		Credit exposure ⁽²⁾		Exposure, net of collateral⁽²⁾
A+	1	$	95	$	5	$	1	1	$	164	$	2	$	1
A	5	177		8		2		3	88		3		1
A-	2	41		2		—		1	8		—		—
BBB+	—	—		—		—		1	11		—		—
BBB	—	—		—		—		1	52		—		—
Total	8	$	313	$	15	$	3	7	$	323	$	5	$	2

__________


⁽¹⁾	Rating is the lower of S&P or Moody’s ratings.


⁽²⁾	Only OTC derivatives with a net positive fair value are included for each counterparty.

Market risk is the risk that the Company will incur losses due to adverse changes in market rates and prices. Market risk exists for all of the derivative financial instruments the Company currently holds, as these instruments may become less valuable due to adverse changes in market conditions. To limit this risk, the Company’s senior management has established risk control limits. In addition, changes in fair value of the derivative financial instruments that the Company uses for risk management purposes are generally offset by the change in the fair value or cash flows of the hedged risk component of the related assets, liabilities or forecasted transactions.

Certain of the Company’s derivative instruments contain credit-risk-contingent termination events, cross-default provisions and credit support annex agreements. Credit-risk-contingent termination events allow the counterparties to terminate the derivative agreement or a specific trade on certain dates if AIC’s, ALIC’s or Allstate Life Insurance Company of New York’s (“ALNY”) financial strength credit ratings by Moody’s or S&P fall below a certain level. Credit-risk-contingent cross-default provisions allow the counterparties to terminate the derivative agreement if the Company defaults by pre-determined threshold amounts on certain debt instruments. Credit-risk-contingent credit support annex agreements specify the amount of collateral the Company must post to counterparties based on AIC’s, ALIC’s or ALNY’s financial strength credit ratings by Moody’s or S&P, or in the event AIC, ALIC or ALNY are no longer rated by either Moody’s or S&P.

The following summarizes the fair value of derivative instruments with termination, cross-default or collateral credit-risk-contingent features that are in a liability position, as well as the fair value of assets and collateral that are netted against the liability in accordance with provisions within legally enforceable MNAs.



($ in millions)	September 30, 2015			December 31, 2014
Gross liability fair value of contracts containing credit-risk-contingent features	$	9		$	11
Gross asset fair value of contracts containing credit-risk-contingent features and subject to MNAs	—			(2		)
Collateral posted under MNAs for contracts containing credit-risk-contingent features	(7		)	(7		)
Maximum amount of additional exposure for contracts with credit-risk-contingent features if all features were triggered concurrently	$	2		$	2

Credit derivatives - selling protection

Free-standing credit default swaps (“CDS”) are utilized for selling credit protection against a specified credit event. A credit default swap is a derivative instrument, representing an agreement between two parties to exchange the credit risk of a specified entity (or a group of entities), or an index based on the credit risk of a group of entities (all commonly referred to as the “reference entity” or a portfolio of “reference entities”), in return for a periodic premium. In selling protection, CDS are used to replicate fixed income securities and to complement the cash market when credit exposure to certain issuers is not available or when the derivative alternative is less expensive than the cash market alternative. CDS typically have a five-year term.

The following table shows the CDS notional amounts by credit rating and fair value of protection sold.



($ in millions)	Notional amount
	AA		A		BBB		BB and lower		Total		Fair value
September 30, 2015
First-to-default Basket
Municipal	$	—	$	100	$	—	$	—	$	100	$	(9	)
Index
Corporate debt	1		20		53		6		80		1
Total	$	1	$	120	$	53	$	6	$	180	$	(8	)

December 31, 2014
First-to-default Basket
Municipal	$	—	$	100	$	—	$	—	$	100	$	(9	)
Index
Corporate debt	—		22		52		6		80		2
Total	$	—	$	122	$	52	$	6	$	180	$	(7	)

In selling protection with CDS, the Company sells credit protection on an identified single name, a basket of names in a first-to-default (“FTD”) structure or credit derivative index (“CDX”) that is generally investment grade, and in return receives periodic premiums through expiration or termination of the agreement. With single name CDS, this premium or credit spread generally corresponds to the difference between the yield on the reference entity’s public fixed maturity cash instruments and swap rates at the time the agreement is executed. With a FTD basket, because of the additional credit risk inherent in a basket of named reference entities, the premium generally corresponds to a high proportion of the sum of the credit spreads of the names in the basket and the correlation between the names. CDX is utilized to take a position on multiple (generally 125) reference entities. Credit events are typically defined as bankruptcy, failure to pay, or restructuring, depending on the nature of the reference entities. If a credit event occurs, the Company settles with the counterparty, either through physical settlement or cash settlement. In a physical settlement, a reference asset is delivered by the buyer of protection to the Company, in exchange for cash payment at par, whereas in a cash settlement, the Company pays the difference between par and the prescribed value of the reference asset. When a credit event occurs in a single name or FTD basket (for FTD, the first credit event occurring for any one name in the basket), the contract terminates at the time of settlement. For CDX, the reference entity’s name incurring the credit event is removed from the index while the contract continues until expiration. The maximum payout on a CDS is the contract notional amount. A physical settlement may afford the Company with recovery rights as the new owner of the asset.

The Company monitors risk associated with credit derivatives through individual name credit limits at both a credit derivative and a combined cash instrument/credit derivative level. The ratings of individual names for which protection has been sold are also monitored.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 815
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Reinsurance

9 Months Ended

Sep. 30, 2015

Reinsurance Disclosures [Abstract]

Reinsurance

The effects of reinsurance on premiums and contract charges are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Direct	$	180		$	185		$	546		$	893
Assumed
Affiliate	33			32			98			97
Non-affiliate	208			199			627			410
Ceded
Affiliate	(13		)	—			(27		)	—
Non-affiliate	(78		)	(82		)	(239		)	(307		)
Premiums and contract charges, net of reinsurance	$	330		$	334		$	1,005		$	1,093

The effects of reinsurance on contract benefits are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Direct	$	228		$	277		$	749		$	1,023
Assumed
Affiliate	20			20			59			66
Non-affiliate	141			135			411			277
Ceded
Affiliate	(12		)	—			(23		)	—
Non-affiliate	(24		)	(76		)	(139		)	(265		)
Contract benefits, net of reinsurance	$	353		$	356		$	1,057		$	1,101

The effects of reinsurance on interest credited to contractholder funds are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Direct	$	170		$	167		$	486		$	656
Assumed
Affiliate	2			2			7			6
Non-affiliate	20			27			81			54
Ceded
Affiliate	(5		)	—			(10		)	—
Non-affiliate	(6		)	(5		)	(18		)	(20		)
Interest credited to contractholder funds, net of reinsurance	$	181		$	191		$	546		$	696

- Definition

The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts.

+ References + Details

Guarantees and Contingent Liabilities	9 Months Ended
Guarantees and Contingent Liabilities	Sep. 30, 2015
Guarantees [Abstract]
Guarantees and Contingent Liabilities	Guarantees and Contingent Liabilities Guarantees The Company owns certain investments that obligate the Company to exchange credit risk or to forfeit principal due, depending on the nature or occurrence of specified credit events for the reference entities. In the event all such specified credit events were to occur, the Company’s maximum amount at risk on these investments, as measured by the amount of the aggregate initial investment, was $4 million as of September 30, 2015. The obligations associated with these investments expire at various dates on or before March 11, 2018. In the normal course of business, the Company provides standard indemnifications to contractual counterparties in connection with numerous transactions, including acquisitions and divestitures. The types of indemnifications typically provided include indemnifications for breaches of representations and warranties, taxes and certain other liabilities, such as third party lawsuits. The indemnification clauses are often standard contractual terms and are entered into in the normal course of business based on an assessment that the risk of loss would be remote. The terms of the indemnifications vary in duration and nature. In many cases, the maximum obligation is not explicitly stated and the contingencies triggering the obligation to indemnify have not occurred and are not expected to occur. Consequently, the maximum amount of the obligation under such indemnifications is not determinable. Historically, the Company has not made any material payments pursuant to these obligations. Related to the sale of LBL on April 1, 2014, the Company agreed to indemnify Resolution Life Holdings, Inc. in connection with certain representations, warranties and covenants of the Company, and certain liabilities specifically excluded from the transaction, subject to specific contractual limitations regarding the Company’s maximum obligation. Management does not believe these indemnifications will have a material effect on results of operations, cash flows or financial position of the Company. Related to the disposal through reinsurance of substantially all of the Company’s variable annuity business to Prudential in 2006, the Company and the Corporation have agreed to indemnify Prudential for certain pre-closing contingent liabilities (including extra-contractual liabilities of the Company and liabilities specifically excluded from the transaction) that the Company has agreed to retain. In addition, the Company and the Corporation will each indemnify Prudential for certain post-closing liabilities that may arise from the acts of the Company and its agents, including certain liabilities arising from the Company’s provision of transition services. The reinsurance agreements contain no limitations or indemnifications with regard to insurance risk transfer, and transferred all of the future risks and responsibilities for performance on the underlying variable annuity contracts to Prudential, including those related to benefit guarantees. Management does not believe this agreement will have a material effect on results of operations, cash flows or financial position of the Company. The aggregate liability balance related to all guarantees was not material as of September 30, 2015. Regulation and Compliance The Company is subject to extensive laws, regulations and regulatory conditions. From time to time, regulatory authorities or legislative bodies seek to impose additional regulations regarding agent and broker compensation, regulate the nature of and amount of investments, impose fines and penalties for unintended errors or mistakes, and otherwise expand overall regulation of insurance products and the insurance industry. In addition, the Company is subject to laws and regulations administered and enforced by federal agencies and other organizations, including but not limited to the Securities and Exchange Commission, the Financial Industry Regulation Authority, and the U.S. Department of Justice. The Company has established procedures and policies to facilitate compliance with laws and regulations, to foster prudent business operations, and to support financial reporting. The Company routinely reviews its practices to validate compliance with laws and regulations and with internal procedures and policies. As a result of these reviews, from time to time the Company may decide to modify some of its procedures and policies. Such modifications, and the reviews that led to them, may be accompanied by payments being made and costs being incurred. The ultimate changes and eventual effects of these actions on the Company’s business, if any, are uncertain. The Company is currently being examined by certain states for compliance with unclaimed property laws. It is possible that this examination may result in additional payments of abandoned funds to states and to changes in the Company’s practices and procedures for the identification of escheatable funds, which could impact benefit payments and reserves, among other consequences; however, it is not likely to have a material effect on the condensed consolidated financial statements of the Company.

Other Comprehensive Income

9 Months Ended

Sep. 30, 2015

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Other Comprehensive Income

The components of other comprehensive (loss) income on a pre-tax and after-tax basis are as follows:



($ in millions)	Three months ended September 30,
	2015									2014
	Pre- tax			Tax			After- tax			Pre- tax			Tax			After- tax
Unrealized net holding gains and losses arising during the period, net of related offsets	$	(286	)	$	224		$	(62	)	$	58		$	(20	)	$	38
Less: reclassification adjustment of realized capital gains and losses	178			62			240			21			(7		)	14
Unrealized net capital gains and losses	(464		)	162			(302		)	37			(13		)	24
Unrealized foreign currency translation adjustments	5			(2		)	3			—			—			—
Other comprehensive (loss) income	$	(459	)	$	160		$	(299	)	$	37		$	(13	)	$	24

	Nine months ended September 30,
	2015									2014
	Pre- tax			Tax			After- tax			Pre- tax			Tax			After- tax
Unrealized net holding gains and losses arising during the period, net of related offsets	$	(726	)	$	496		$	(230	)	$	525		$	(185	)	$	340
Less: reclassification adjustment of realized capital gains and losses	346			121			467			(7		)	2			(5		)
Unrealized net capital gains and losses	(1,072		)	375			(697		)	532			(187		)	345
Unrealized foreign currency translation adjustments	(6		)	2			(4		)	2			(1		)	1
Other comprehensive (loss) income	$	(1,078	)	$	377		$	(701	)	$	534		$	(188	)	$	346

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

General (Tables)

9 Months Ended

Sep. 30, 2015

General

Summary of premiums and contract charges by product

The following table summarizes premiums and contract charges by product.



($ in millions)	Three months ended September 30,				Nine months ended September 30,
	2015		2014		2015		2014
Premiums
Traditional life insurance	$	129	$	120	$	384	$	365
Immediate annuities with life contingencies	—		—		—		5
Accident and health insurance	21		22		64		71
Total premiums	150		142		448		441

Contract charges
Interest-sensitive life insurance	176		188		547		638
Fixed annuities	4		4		10		14
Total contract charges	180		192		557		652
Total premiums and contract charges	$	330	$	334	$	1,005	$	1,093

Supplemental Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2015

Supplemental Cash Flow Information [Abstract]

Schedule of supplemental cash flow information from collateralized securities received

The accompanying cash flows are included in cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows along with the activities resulting from management of the proceeds, which are as follows:



($ in millions)	Nine months ended September 30,
	2015			2014
Net change in proceeds managed
Net change in short-term investments	$	6		$	(151	)
Operating cash flow provided (used)	6			(151		)
Net change in cash	1			—
Net change in proceeds managed	$	7		$	(151	)

Net change in liabilities
Liabilities for collateral, beginning of period	$	(510	)	$	(328	)
Liabilities for collateral, end of period	(503		)	(479		)
Operating cash flow (used) provided	$	(7	)	$	151

Investments (Tables)

9 Months Ended

Sep. 30, 2015

Investments [Abstract]

Schedule for fixed income securities at amortized cost, gross unrealized gains and losses and fair value

The amortized cost, gross unrealized gains and losses and fair value for fixed income securities are as follows:



($ in millions)	Amortized		Gross unrealized					Fair
	cost		Gains		Losses			value
September 30, 2015
U.S. government and agencies	$	508	$	68	$	—		$	576
Municipal	2,212		323		(9		)	2,526
Corporate	18,198		1,045		(340		)	18,903
Foreign government	387		44		(1		)	430
Asset-backed securities (“ABS”)	1,737		9		(25		)	1,721
Residential mortgage-backed securities (“RMBS”)	439		54		(4		)	489
Commercial mortgage-backed securities (“CMBS”)	481		34		(3		)	512
Redeemable preferred stock	13		3		—			16
Total fixed income securities	$	23,975	$	1,580	$	(382	)	$	25,173

December 31, 2014
U.S. government and agencies	$	668	$	102	$	—		$	770
Municipal	3,156		520		(14		)	3,662
Corporate	19,465		1,670		(150		)	20,985
Foreign government	654		81		—			735
ABS	773		13		(21		)	765
RMBS	554		55		(4		)	605
CMBS	538		43		(2		)	579
Redeemable preferred stock	14		2		—			16
Total fixed income securities	$	25,822	$	2,486	$	(191	)	$	28,117

Schedule for fixed income securities based on contractual maturities

The scheduled maturities for fixed income securities are as follows as of September 30, 2015:



($ in millions)	Amortized cost		Fair value
Due in one year or less	$	1,054	$	1,064
Due after one year through five years	6,438		6,794
Due after five years through ten years	8,882		9,108
Due after ten years	4,944		5,485
	21,318		22,451
ABS, RMBS and CMBS	2,657		2,722
Total	$	23,975	$	25,173

Schedule of net investment income

Net investment income is as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Fixed income securities	$	300		$	349		$	960		$	1,179
Mortgage loans	46			48			147			188
Equity securities	6			7			19			17
Limited partnership interests	105			51			250			209
Short-term investments	1			—			2			1
Policy loans	9			10			26			30
Other	19			15			55			43
Investment income, before expense	486			480			1,459			1,667
Investment expense	(13		)	(19		)	(42		)	(55		)
Net investment income	$	473		$	461		$	1,417		$	1,612

Schedule of realized capital gains and losses by asset type

Realized capital gains and losses by asset type are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Fixed income securities	$	256		$	(1	)	$	370		$	(1	)
Mortgage loans	1			2			2			3
Equity securities	(58		)	(5		)	(10		)	11
Limited partnership interests	(20		)	28			(18		)	(5		)
Derivatives	15			4			21			7
Other	(5		)	—			(6		)	3
Realized capital gains and losses	$	189		$	28		$	359		$	18

Schedule of realized capital gains and losses by transaction type

Realized capital gains and losses by transaction type are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Impairment write-downs	$	(17	)	$	2		$	(29	)	$	(2	)
Change in intent write-downs	(50		)	(21		)	(57		)	(40		)
Net other-than-temporary impairment losses recognized in earnings	(67		)	(19		)	(86		)	(42		)
Sales and other	241			43			427			51
Valuation and settlements of derivative instruments	15			4			18			9
Realized capital gains and losses	$	189		$	28		$	359		$	18

Schedule of other-than-temporary impairment losses by asset type

Other-than-temporary impairment losses by asset type are as follows:



($ in millions)	Three months ended September 30, 2015								Three months ended September 30, 2014
	Gross			Included in OCI		Net			Gross			Included in OCI			Net
Fixed income securities:
Corporate	$	(4	)	$	—	$	(4	)	$	(3	)	$	—		$	(3	)
ABS	(8		)	6		(2		)	—			—			—
CMBS	(1		)	—		(1		)	—			—			—
Total fixed income securities	(13		)	6		(7		)	(3		)	—			(3		)
Mortgage loans	—			—		—			2			—			2
Equity securities	(58		)	—		(58		)	(21		)	—			(21		)
Limited partnership interests	—			—		—			3			—			3
Other	(2		)	—		(2		)	—			—			—
Other-than-temporary impairment losses	$	(73	)	$	6	$	(67	)	$	(19	)	$	—		$	(19	)

	Nine months ended September 30, 2015								Nine months ended September 30, 2014
	Gross			Included in OCI		Net			Gross			Included in OCI			Net
Fixed income securities:
Municipal	$	—		$	—	$	—		$	(1	)	$	—		$	(1	)
Corporate	(11		)	3		(8		)	(3		)	—			(3		)
ABS	(10		)	6		(4		)	(1		)	—			(1		)
RMBS	—			—		—			3			(1		)	2
CMBS	(1		)	—		(1		)	—			—			—
Total fixed income securities	(22		)	9		(13		)	(2		)	(1		)	(3		)
Mortgage loans	—			—		—			6			—			6
Equity securities	(68		)	—		(68		)	(29		)	—			(29		)
Limited partnership interests	(2		)	—		(2		)	(16		)	—			(16		)
Other	(3		)	—		(3		)	—			—			—
Other-than-temporary impairment losses	$	(95	)	$	9	$	(86	)	$	(41	)	$	(1	)	$	(42	)

Schedule of other-than-temporary impairment losses on fixed income securities included in accumulated other comprehensive income



($ in millions)	September 30, 2015			December 31, 2014
Municipal	$	(5	)	$	(5	)
ABS	(8		)	(1		)
RMBS	(50		)	(55		)
CMBS	(6		)	(5		)
Total	$	(69	)	$	(66	)

Schedule of rollforwards of the cumulative credit losses recognized in earnings for fixed income securities held

Rollforwards of the cumulative credit losses recognized in earnings for fixed income securities held as of the end of the period are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Beginning balance	$	(206	)	$	(229	)	$	(209	)	$	(299	)
Additional credit loss for securities previously other-than-temporarily impaired	(3		)	—			(5		)	2
Additional credit loss for securities not previously other-than-temporarily impaired	(4		)	(3		)	(8		)	(4		)
Reduction in credit loss for securities disposed or collected	13			9			20			19
Reduction in credit loss for securities the Company has made the decision to sell or more likely than not will be required to sell	—			—			—			—
Change in credit loss due to accretion of increase in cash flows	—			1			2			1
Reduction in credit loss for securities sold in Lincoln Benefit Life Company (“LBL”) disposition	—			—			—			59
Ending balance	$	(200	)	$	(222	)	$	(200	)	$	(222	)

Schedule of unrealized net capital gains and losses included in accumulated other comprehensive income

Unrealized net capital gains and losses included in accumulated other comprehensive income are as follows:



($ in millions)	Fair value		Gross unrealized					Unrealized net gains (losses)
September 30, 2015	Fair value		Gains		Losses			Unrealized net gains (losses)
Fixed income securities	$	25,173	$	1,580	$	(382	)	$	1,198
Equity securities	1,370		21		(74		)	(53		)
Short-term investments	937		—		—			—
Derivative instruments⁽¹⁾	11		11		—			11
Equity method (“EMA”) limited partnerships⁽²⁾								(2		)
Unrealized net capital gains and losses, pre-tax								1,154
Amounts recognized for:
Insurance reserves ⁽³⁾								—
DAC and DSI ⁽⁴⁾								(92		)
Amounts recognized								(92		)
Deferred income taxes								(377		)
Unrealized net capital gains and losses, after-tax								$	685

_______________


⁽¹⁾	Included in the fair value of derivative instruments are $4 million classified as assets and $(7) million classified as liabilities.


⁽²⁾	Unrealized net capital gains and losses for limited partnership interests represent the Company’s share of EMA limited partnerships’ other comprehensive income. Fair value and gross unrealized gains and losses are not applicable.

⁽³⁾


⁽⁴⁾	The DAC and DSI adjustment balance represents the amount by which the amortization of DAC and DSI would increase or decrease if the unrealized gains or losses in the respective product portfolios were realized.



($ in millions)	Fair value		Gross unrealized					Unrealized net gains (losses)
December 31, 2014	Fair value		Gains		Losses			Unrealized net gains (losses)
Fixed income securities	$	28,117	$	2,486	$	(191	)	$	2,295
Equity securities	970		57		(14		)	43
Short-term investments	857		—		—			—
Derivative instruments ⁽¹⁾	2		3		(1		)	2
EMA limited partnerships								(2		)
Unrealized net capital gains and losses, pre-tax								2,338
Amounts recognized for:
Insurance reserves								(28		)
DAC and DSI								(176		)
Amounts recognized								(204		)
Deferred income taxes								(752		)
Unrealized net capital gains and losses, after-tax								$	1,382

_______________


⁽¹⁾	Included in the fair value of derivative instruments are $3 million classified as assets and $1 million classified as liabilities.

Schedule of change in unrealized net capital gains and losses

The change in unrealized net capital gains and losses for the nine months ended September 30, 2015 is as follows:



($ in millions)
Fixed income securities	$	(1,097	)
Equity securities	(96		)
Derivative instruments	9
Total	(1,184		)
Amounts recognized for:
Insurance reserves	28
DAC and DSI	84
Amounts recognized	112
Deferred income taxes	375
Decrease in unrealized net capital gains and losses, after-tax	$	(697	)

Summary of gross unrealized losses and fair value of fixed income and equity securities by length of time



($ in millions)	Less than 12 months						12 months or more						Total unrealized losses
	Number of issues	Fair value		Unrealized losses			Number of issues	Fair value		Unrealized losses
	Number of issues	Fair value		Unrealized losses			Number of issues	Fair value		Unrealized losses
September 30, 2015
Fixed income securities
U.S. government and agencies	1	$	5	$	—		—	$	—	$	—		$	—
Municipal	21	56		(1		)	5	24		(8		)	(9		)
Corporate	686	3,948		(244		)	60	551		(96		)	(340		)
Foreign government	2	32		(1		)	—	—		—			(1		)
ABS	37	387		(8		)	19	186		(17		)	(25		)
RMBS	31	2		—			40	57		(4		)	(4		)
CMBS	6	32		—			2	4		(3		)	(3		)
Total fixed income securities	784	4,462		(254		)	126	822		(128		)	(382		)
Equity securities	419	742		(74		)	—	—		—			(74		)
Total fixed income and equity securities	1,203	$	5,204	$	(328	)	126	$	822	$	(128	)	$	(456	)

Investment grade fixed income securities	422	$	2,931	$	(114	)	77	$	550	$	(73	)	$	(187	)
Below investment grade fixed income securities	362	1,531		(140		)	49	272		(55		)	(195		)
Total fixed income securities	784	$	4,462	$	(254	)	126	$	822	$	(128	)	$	(382	)

December 31, 2014
Fixed income securities
U.S. government and agencies	1	$	1	$	—		—	$	—	$	—		$	—
Municipal	17	90		(1		)	10	47		(13		)	(14		)
Corporate	281	1,780		(69		)	91	875		(81		)	(150		)
Foreign government	—	—		—			1	15		—			—
ABS	19	168		(2		)	23	217		(19		)	(21		)
RMBS	19	3		—			45	73		(4		)	(4		)
CMBS	8	33		—			3	32		(2		)	(2		)
Total fixed income securities	345	2,075		(72		)	173	1,259		(119		)	(191		)
Equity securities	294	327		(13		)	1	6		(1		)	(14		)
Total fixed income and equity securities	639	$	2,402	$	(85	)	174	$	1,265	$	(120	)	$	(205	)

Investment grade fixed income securities	167	$	1,275	$	(28	)	127	$	989	$	(79	)	$	(107	)
Below investment grade fixed income securities	178	800		(44		)	46	270		(40		)	(84		)
Total fixed income securities	345	$	2,075	$	(72	)	173	$	1,259	$	(119	)	$	(191	)

Summary of carrying value of non-impaired fixed and variable rate mortgage loans by debt service coverage ratio distribution

The following table reflects the carrying value of non-impaired fixed rate and variable rate mortgage loans summarized by debt service coverage ratio distribution.



($ in millions)	September 30, 2015						December 31, 2014
Debt service coverage ratio distribution	Fixed rate mortgage loans		Variable rate mortgage loans		Total		Fixed rate mortgage loans		Variable rate mortgage loans		Total
Below 1.0	$	97	$	—	$	97	$	110	$	—	$	110
1.0 - 1.25	381		—		381		387		—		387
1.26 - 1.50	1,173		—		1,173		1,118		1		1,119
Above 1.50	2,166		1		2,167		2,054		—		2,054
Total non-impaired mortgage loans	$	3,817	$	1	$	3,818	$	3,669	$	1	$	3,670

Schedule of net carrying value of impaired mortgage loans

The net carrying value of impaired mortgage loans is as follows:



($ in millions)	September 30, 2015		December 31, 2014
Impaired mortgage loans with a valuation allowance	$	9	$	16
Impaired mortgage loans without a valuation allowance	—		—
Total impaired mortgage loans	$	9	$	16
Valuation allowance on impaired mortgage loans	$	7	$	8

Schedule of rollforward of the valuation allowance on impaired mortgage loans

The rollforward of the valuation allowance on impaired mortgage loans is as follows:



($ in millions)	Three months ended September 30,					Nine months ended September 30,
	2015		2014			2015			2014
Beginning balance	$	7	$	9		$	8		$	21
Net decrease in valuation allowance	—		(2		)	—			(6		)
Charge offs	—		—			(1		)	(8		)
Ending balance	$	7	$	7		$	7		$	7

Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Summary of assets and liabilities measured at fair value on a recurring and non-recurring basis

The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2014.



($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Counterparty and cash collateral netting			Balance as of December 31, 2014
Assets
Fixed income securities:
U.S. government and agencies	$	147		$	623		$	—					$	770
Municipal	—			3,556			106						3,662
Corporate	—			20,193			792						20,985
Foreign government	—			735			—						735
ABS	—			636			129						765
RMBS	—			605			—						605
CMBS	—			578			1						579
Redeemable preferred stock	—			16			—						16
Total fixed income securities	147			26,942			1,028						28,117
Equity securities	927			6			37						970
Short-term investments	90			767			—						857
Other investments: Free-standing derivatives	—			90			2			$	(2	)	90
Separate account assets	4,396			—			—						4,396
Other assets	1			—			1						2
Total recurring basis assets	5,561			27,805			1,068			(2		)	34,432
Non-recurring basis ⁽¹⁾	—			—			9						9
Total assets at fair value	$	5,561		$	27,805		$	1,077		$	(2	)	$	34,441
% of total assets at fair value	16.2		%	80.7		%	3.1		%	—		%	100.0		%

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	—		$	(323	)				$	(323	)
Other liabilities: Free-standing derivatives	—			(24		)	(9		)	$	2		(31		)
Total liabilities at fair value	$	—		$	(24	)	$	(332	)	$	2		$	(354	)
% of total liabilities at fair value	—		%	6.8		%	93.8		%	(0.6		)%	100.0		%

____________


⁽¹⁾	Includes $6 million of mortgage loans and $3 million of limited partnership interests written-down to fair value in connection with recognizing other-than-temporary impairments.

The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring and non-recurring basis as of September 30, 2015.



($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Counterparty and cash collateral netting			Balance as of September 30, 2015
Assets
Fixed income securities:
U.S. government and agencies	$	136		$	440		$	—					$	576
Municipal	—			2,437			89						2,526
Corporate	—			18,368			535						18,903
Foreign government	—			430			—						430
ABS	—			1,590			131						1,721
RMBS	—			489			—						489
CMBS	—			512			—						512
Redeemable preferred stock	—			16			—						16
Total fixed income securities	136			24,282			755						25,173
Equity securities	1,300			6			64						1,370
Short-term investments	51			886			—						937
Other investments: Free-standing derivatives	—			35			1			$	(11	)	25
Separate account assets	3,677			—			—						3,677
Other assets	—			—			1						1
Total recurring basis assets	5,164			25,209			821			(11		)	31,183
Non-recurring basis ⁽¹⁾	—			—			7			—			7
Total assets at fair value	$	5,164		$	25,209		$	828		$	(11	)	$	31,190
% of total assets at fair value	16.5		%	80.8		%	2.7		%	—		%	100		%

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	—		$	(295	)				$	(295	)
Other liabilities: Free-standing derivatives	(2		)	(1		)	(9		)	$	(1	)	(13		)
Total liabilities at fair value	$	(2	)	$	(1	)	$	(304	)	$	(1	)	$	(308	)
% of total liabilities at fair value	0.7		%	0.3		%	98.7		%	0.3		%	100		%

____________


⁽¹⁾	Includes $7 million of other investments written-down to fair value in connection with recognizing other-than-temporary impairments.

Summary of quantitative information about the significant unobservable inputs used in Level 3 fair value measurements

The following table summarizes quantitative information about the significant unobservable inputs used in Level 3 fair value measurements.



($ in millions)	Fair value			Valuation technique	Unobservable input	Range	Weighted average
September 30, 2015
Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options	$	(242	)	Stochastic cash flow model	Projected option cost	1.0 - 2.2%	1.76	%
December 31, 2014
Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options	$	(278	)	Stochastic cash flow model	Projected option cost	1.0 - 2.0%	1.76	%

Schedule of rollforward of Level 3 assets and liabilities held at fair value on a recurring basis

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the three months ended September 30, 2015.



($ in millions)				Total gains (losses) included in:
	Balance as of June 30, 2015			Net income⁽¹⁾			OCI			Transfers into Level 3			Transfers out of Level 3
Assets
Fixed income securities:
Municipal	$	101		$	2		$	—		$	—		$	—
Corporate	569			10			(9		)	—			(23		)
ABS	105			—			(1		)	15			—
Total fixed income securities	775			12			(10		)	15			(23		)
Equity securities	46			—			(1		)	—			—
Free-standing derivatives, net	(7		)	(1		)	—			—			—
Other assets	1			—			—			—			—
Total recurring Level 3 assets	$	815		$	11		$	(11	)	$	15		$	(23	)

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	(315	)	$	19		$	—		$	—		$	—
Total recurring Level 3 liabilities	$	(315	)	$	19		$	—		$	—		$	—

	Purchases			Sales			Issues			Settlements			Balance as of September 30, 2015
Assets
Fixed income securities:
Municipal	$	—		$	(14	)	$	—		$	—		$	89
Corporate	1			(11		)	—			(2		)	535
ABS	27			—			—			(15		)	131
Total fixed income securities	28			(25		)	—			(17		)	755
Equity securities	19			—			—			—			64
Free-standing derivatives, net	—			—			—			—			(8		)	⁽²⁾
Other assets	—			—			—			—			1
Total recurring Level 3 assets	$	47		$	(25	)	$	—		$	(17	)	$	812

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	—		$	—		$	1		$	(295	)
Total recurring Level 3 liabilities	$	—		$	—		$	—		$	1		$	(295	)

____________


⁽¹⁾	The effect to net income totals $30 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $8 million in realized capital gains and losses, $3 million in net investment income, $27 million in interest credited to contractholder funds and $(8) million in contract benefits.


⁽²⁾	Comprises $1 million of assets and $9 million of liabilities.

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the three months ended September 30, 2014.



($ in millions)				Total gains (losses) included in:
	Balance as of June 30, 2014			Net income⁽¹⁾			OCI			Transfers into Level 3			Transfers out of Level 3
Assets
Fixed income securities:
Municipal	$	102		$	—		$	—		$	—		$	—
Corporate	883			3			(13		)	18			—
ABS	105			—			1			—			—
CMBS	5			—			—			—			—
Total fixed income securities	1,095			3			(12		)	18			—
Equity securities	7			—			—			—			—
Free-standing derivatives, net	(5		)	—			—			—			—
Other assets	1			—			—			—			—
Total recurring Level 3 assets	$	1,098		$	3		$	(12	)	$	18		$	—

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	(331	)	$	9		$	—		$	—		$	—
Total recurring Level 3 liabilities	$	(331	)	$	9		$	—		$	—		$	—

	Purchases			Sales			Issues			Settlements			Balance as of September 30, 2014
Assets
Fixed income securities:
Municipal	$	—		$	(1	)	$	—		$	—		$	101
Corporate	4			(3		)	—			(53		)	839
ABS	10			—			—			(2		)	114
CMBS	—			—			—			—			5
Total fixed income securities	14			(4		)	—			(55		)	1,059
Equity securities	30			—			—			—			37
Free-standing derivatives, net	—			—			—			(1		)	(6		)	⁽²⁾
Other assets	—			—			—			—			1
Total recurring Level 3 assets	$	44		$	(4	)	$	—		$	(56	)	$	1,091

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	—		$	—		$	1		$	(321	)
Total recurring Level 3 liabilities	$	—		$	—		$	—		$	1		$	(321	)

__________


⁽¹⁾	The effect to net income totals $12 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $3 million in net investment income, $5 million in interest credited to contractholder funds and $4 million in contract benefits.


⁽²⁾	Comprises $3 million of assets and $9 million of liabilities.

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the nine months ended September 30, 2014.



($ in millions)				Total gains (losses)included in:
	Balance as of December 31, 2013			Net income⁽¹⁾			OCI			Transfers into Level 3			Transfers out of Level 3
Assets
Fixed income securities:
Municipal	$	119		$	(1	)	$	3		$	—		$	(17	)
Corporate	1,008			14			(4		)	18			(26		)
ABS	112			—			2			—			(12		)
CMBS	1			—			—			—			—
Redeemable preferred stock	1			—			—			—			—
Total fixed income securities	1,241			13			1			18			(55		)
Equity securities	6			—			—			—			—
Free-standing derivatives, net	(5		)	1			—			—			—
Other assets	—			1			—			—			—
Assets held for sale	362			(1		)	2			4			(2		)
Total recurring Level 3 assets	$	1,604		$	14		$	3		$	22		$	(57	)

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	(307	)	$	(5	)	$	—		$	—		$	—
Liabilities held for sale	(246		)	17			—			—			—
Total recurring Level 3 liabilities	$	(553	)	$	12		$	—		$	—		$	—

	Sold in LBL disposition ⁽³⁾			Purchases/Issues⁽⁴⁾			Sales			Settlements			Balance as of September 30, 2014
Assets
Fixed income securities:
Municipal	$	—		$	—		$	(3	)	$	—		$	101
Corporate	—			16			(92		)	(95		)	839
ABS	—			21			—			(9		)	114
CMBS	4			—			—			—			5
Redeemable preferred stock	—			—			(1		)	—			—
Total fixed income securities	4			37			(96		)	(104		)	1,059
Equity securities	—			31			—			—			37
Free-standing derivatives, net	—			2			—			(4		)	(6		)	⁽²⁾
Other assets	—			—			—			—			1
Assets held for sale	(351		)	—			(8		)	(6		)	—
Total recurring Level 3 assets	$	(347	)	$	70		$	(104	)	$	(114	)	$	1,091

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	—		$	(13	)	$	—		$	4		$	(321	)
Liabilities held for sale	230			(4		)	—			3			—
Total recurring Level 3 liabilities	$	230		$	(17	)	$	—		$	7		$	(321	)

__________


⁽¹⁾	The effect to net income totals $26 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $8 million in realized capital gains and losses, $9 million in net investment income, $5 million in interest credited to contractholder funds, $8 million in contract benefits and $(4) million in loss on disposition of operations.


⁽²⁾	Comprises $3 million of assets and $9 million of liabilities.


⁽³⁾	Includes transfers from held for sale that took place in first quarter 2014 of $4 million for CMBS and $(4) million for Assets held for sale.


⁽⁴⁾	Represents purchases for assets and issues for liabilities.

Schedule of change in unrealized gains and losses included in net income for Level 3 assets and liabilities held

The following table provides the change in unrealized gains and losses included in net income for Level 3 assets and liabilities held as of September 30.



($ in millions)	Three months ended September 30,					Nine months ended September 30,
	2015			2014		2015		2014
Assets
Fixed income securities:
Municipal	$	—		$	—	$	—	$	(1	)
Corporate	3			3		8		8
ABS	—			—		1		—
CMBS	—			—		—		(1		)
Total fixed income securities	3			3		9		6
Equity securities	(1		)	—		—		—
Free-standing derivatives, net	(1		)	—		—		6
Other assets	—			—		—		1
Assets held for sale	—			—		—		(1		)
Total recurring Level 3 assets	$	1		$	3	$	9	$	12

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	19		$	9	$	24	$	(5	)
Liabilities held for sale	—			—		—		17
Total recurring Level 3 liabilities	$	19		$	9	$	24	$	12

Schedule of carrying values and fair value estimates of financial instruments not carried at fair value

Financial assets



($ in millions)	September 30, 2015				December 31, 2014
	Carrying value		Fair value		Carrying value		Fair value
Mortgage loans	$	3,827	$	4,020	$	3,686	$	3,922
Cost method limited partnerships	526		692		508		686
Bank loans	510		507		431		427
Agent loans	416		406		368		361
Notes due from related party	275		275		275		275

Financial liabilities



($ in millions)	September 30, 2015				December 31, 2014
	Carrying value		Fair value		Carrying value		Fair value
Contractholder funds on investment contracts	$	12,682	$	13,189	$	13,708	$	14,364
Notes due to related parties	275		275		275		275
Liability for collateral	503		503		510		510

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of volume and fair value positions of derivative instruments and reporting location in the Condensed Consolidated Statement of Financial Position



($ in millions, except number of contracts)		Volume⁽¹⁾
	Balance sheet location	Notional amount		Number of contracts	Fair value, net			Gross asset		Gross liability
Asset derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements	Other investments	$	18	n/a	$	4		$	4	$	—
Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate cap agreements	Other investments	135		n/a	1			1		—
Financial futures contracts	Other assets	—		330	—			—		—
Equity and index contracts
Options	Other investments	—		3,820	21			21		—
Financial futures contracts	Other assets	—		59	—			—		—
Foreign currency contracts
Foreign currency forwards	Other investments	60		n/a	—			—		—
Credit default contracts
Credit default swaps – buying protection	Other investments	29		n/a	2			2		—
Credit default swaps – selling protection	Other investments	80		n/a	1			1		—
Other contracts
Other contracts	Other assets	3		n/a	1			1		—
Subtotal		307		4,209	26			26		—
Total asset derivatives		$	325	4,209	$	30		$	30	$	—

Liability derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements	Other liabilities & accrued expenses	$	56	n/a	$	7		$	7	$	—
Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate swap agreements	Other liabilities & accrued expenses	85		n/a	—			—		—
Equity and index contracts
Options and futures	Other liabilities & accrued expenses	—		5,239	(3		)	—		(3		)
Foreign currency contracts
Foreign currency forwards	Other liabilities & accrued expenses	10		n/a	—			—		—
Embedded derivative financial instruments
Guaranteed accumulation benefits	Contractholder funds	496		n/a	(39		)	—		(39		)
Guaranteed withdrawal benefits	Contractholder funds	342		n/a	(14		)	—		(14		)
Equity-indexed and forward starting options in life and annuity product contracts	Contractholder funds	1,773		n/a	(242		)	—		(242		)
Other embedded derivative financial instruments	Contractholder funds	85		n/a	—			—		—
Credit default contracts
Credit default swaps – buying protection	Other liabilities & accrued expenses	15		n/a	—			—		—
Credit default swaps – selling protection	Other liabilities & accrued expenses	100		n/a	(9		)	—		(9		)
Subtotal		2,906		5,239	(307		)	—		(307		)
Total liability derivatives		2,962		5,239	(300		)	$	7	$	(307	)
Total derivatives		$	3,287	9,448	$	(270	)

___________


⁽¹⁾	Volume for OTC derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a = not applicable)



($ in millions, except number of contracts)		Volume ⁽¹⁾
	Balance sheet location	Notional amount		Number of contracts	Fair value, net			Gross asset		Gross liability
Asset derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements	Other investments	$	85	n/a	$	3		$	3	$	—

Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate cap agreements	Other investments	163		n/a	2			2		—
Equity and index contracts
Options	Other investments	—		3,225	83			83		—
Financial futures contracts	Other assets	—		704	1			1		—
Foreign currency contracts
Foreign currency forwards	Other investments	57		n/a	—			—		—
Credit default contracts
Credit default swaps – buying protection	Other investments	19		n/a	—			—		—
Credit default swaps – selling protection	Other investments	80		n/a	2			2		—
Other contracts
Other contracts	Other assets	3		n/a	1			1		—
Subtotal		322		3,929	89			89		—
Total asset derivatives		$	407	3,929	$	92		$	92	$	—

Liability derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements	Other liabilities & accrued expenses	$	50	n/a	$	(1	)	$	—	$	(1	)
Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate swap agreements	Other liabilities & accrued expenses	85		n/a	1			1		—
Interest rate cap agreements	Other liabilities & accrued expenses	11		n/a	—			—		—
Financial futures contracts	Other liabilities & accrued expenses	—		200	—			—		—
Equity and index contracts
Options and futures	Other liabilities & accrued expenses	—		3,131	(22		)	—		(22		)
Foreign currency contracts
Foreign currency forwards	Other liabilities & accrued expenses	36		n/a	1			1		—
Embedded derivative financial instruments
Guaranteed accumulation benefits	Contractholder funds	615		n/a	(32		)	—		(32		)
Guaranteed withdrawal benefits	Contractholder funds	425		n/a	(13		)	—		(13		)
Equity-indexed and forward starting options in life and annuity product contracts	Contractholder funds	1,786		n/a	(278		)	—		(278		)
Other embedded derivative financial instruments	Contractholder funds	85		n/a	—			—		—
Credit default contracts
Credit default swaps – buying protection	Other liabilities & accrued expenses	49		n/a	(1		)	—		(1		)
Credit default swaps – selling protection	Other liabilities & accrued expenses	100		n/a	(9		)	—		(9		)
Subtotal		3,192		3,331	(353		)	2		(355		)
Total liability derivatives		3,242		3,331	(354		)	$	2	$	(356	)
Total derivatives		$	3,649	7,260	$	(262	)

____________


⁽¹⁾	Volume for OTC derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a = not applicable)

Schedule of gross and net amounts about the Company's OTC derivatives subject to enforceable master netting arrangements

The following table provides gross and net amounts for the Company’s OTC derivatives, all of which are subject to enforceable master netting agreements.



($ in millions)				Offsets
	Gross amount			Counter- party netting			Cash collateral (received) pledged			Net amount on balance sheet			Securities collateral (received) pledged			Net amount
September 30, 2015
Asset derivatives	$	15		$	(7	)	$	(4	)	$	4		$	(1	)	$	3
Liability derivatives	(9		)	7			(8		)	(10		)	7			(3		)

December 31, 2014
Asset derivatives	$	7		$	(2	)	$	—		$	5		$	(4	)	$	1
Liability derivatives	(11		)	2			—			(9		)	7			(2		)

Offsetting Liabilities [Table Text Block]

The following table provides gross and net amounts for the Company’s OTC derivatives, all of which are subject to enforceable master netting agreements.



($ in millions)				Offsets
	Gross amount			Counter- party netting			Cash collateral (received) pledged			Net amount on balance sheet			Securities collateral (received) pledged			Net amount
September 30, 2015
Asset derivatives	$	15		$	(7	)	$	(4	)	$	4		$	(1	)	$	3
Liability derivatives	(9		)	7			(8		)	(10		)	7			(3		)

December 31, 2014
Asset derivatives	$	7		$	(2	)	$	—		$	5		$	(4	)	$	1
Liability derivatives	(11		)	2			—			(9		)	7			(2		)

Summary of impacts on operations and AOCI from foreign currency contracts, cash flow hedges



($ in millions)	Three months ended September 30,					Nine months ended September 30,
	2015		2014			2015			2014
Gain recognized in OCI on derivatives during the period	$	4	$	10		$	11		$	6
Gain (loss) recognized in OCI on derivatives during the term of the hedging relationship	11		(4		)	11			(4		)
Loss reclassified from AOCI into income (net investment income)	—		(1		)	(1		)	(1		)
Gain (loss) reclassified from AOCI into income (realized capital gains and losses)	—		—			3			(2		)

Schedule of gains and losses from valuation, settlements, and hedge ineffectiveness, fair value hedges and derivatives not designated as hedges



($ in millions)	Realized capital gains and losses			Contract benefits			Interest credited to contractholder funds			Loss on disposition of operations			Total gain (loss) recognized in net income on derivatives
Three months ended September 30, 2015
Interest rate contracts	$	(1	)	$	—		$	—		$	—		$	(1	)
Equity and index contracts	11			—			(27		)	—			(16		)
Embedded derivative financial instruments	—			(8		)	28			—			20
Foreign currency contracts	3			—			—			—			3
Credit default contracts	2			—			—			—			2
Other contracts	—			—			(1		)	—			(1		)
Total	$	15		$	(8	)	$	—		$	—		$	7

Nine months ended September 30, 2015
Equity and index contracts	$	10		$	—		$	(23	)	$	—		$	(13	)
Embedded derivative financial instruments	—			(8		)	36			—			28
Foreign currency contracts	5			—			—			—			5
Credit default contracts	3			—			—			—			3
Total	$	18		$	(8	)	$	13		$	—		$	23

Three months ended September 30, 2014
Equity and index contracts	$	—		$	—		$	4		$	—		$	4
Embedded derivative financial instruments	—			4			6			—			10
Foreign currency contracts	4			—			—			—			4
Other contracts	—			—			(1		)	—			(1		)
Total	$	4		$	4		$	9		$	—		$	17

Nine months ended September 30, 2014
Interest rate contracts	$	(2	)	$	—		$	—		$	(4	)	$	(6	)
Equity and index contracts	—			—			25			—			25
Embedded derivative financial instruments	—			8			(5		)	—			3
Foreign currency contracts	4			—			—			—			4
Credit default contracts	7			—			—			—			7
Total	$	9		$	8		$	20		$	(4	)	$	33

Summary of counterparty credit exposure by counterparty credit rating

The following table summarizes the counterparty credit exposure by counterparty credit rating as it relates to the Company’s OTC derivatives.



($ in millions)	September 30, 2015							December 31, 2014
Rating⁽¹⁾	Number of counter-parties	Notional amount ⁽²⁾		Credit exposure ⁽²⁾		Exposure, net of collateral⁽²⁾		Number of counter- parties	Notional amount ⁽²⁾		Credit exposure ⁽²⁾		Exposure, net of collateral⁽²⁾
A+	1	$	95	$	5	$	1	1	$	164	$	2	$	1
A	5	177		8		2		3	88		3		1
A-	2	41		2		—		1	8		—		—
BBB+	—	—		—		—		1	11		—		—
BBB	—	—		—		—		1	52		—		—
Total	8	$	313	$	15	$	3	7	$	323	$	5	$	2

__________


⁽¹⁾	Rating is the lower of S&P or Moody’s ratings.


⁽²⁾	Only OTC derivatives with a net positive fair value are included for each counterparty.

Summary of derivative instruments with credit features in a liability position, including fair value of assets and collateral netted against the liability



($ in millions)	September 30, 2015			December 31, 2014
Gross liability fair value of contracts containing credit-risk-contingent features	$	9		$	11
Gross asset fair value of contracts containing credit-risk-contingent features and subject to MNAs	—			(2		)
Collateral posted under MNAs for contracts containing credit-risk-contingent features	(7		)	(7		)
Maximum amount of additional exposure for contracts with credit-risk-contingent features if all features were triggered concurrently	$	2		$	2

Schedule of CDS notional amounts by credit rating and fair value of protection sold

The following table shows the CDS notional amounts by credit rating and fair value of protection sold.



($ in millions)	Notional amount
	AA		A		BBB		BB and lower		Total		Fair value
September 30, 2015
First-to-default Basket
Municipal	$	—	$	100	$	—	$	—	$	100	$	(9	)
Index
Corporate debt	1		20		53		6		80		1
Total	$	1	$	120	$	53	$	6	$	180	$	(8	)

December 31, 2014
First-to-default Basket
Municipal	$	—	$	100	$	—	$	—	$	100	$	(9	)
Index
Corporate debt	—		22		52		6		80		2
Total	$	—	$	122	$	52	$	6	$	180	$	(7	)

Reinsurance (Tables)

9 Months Ended

Sep. 30, 2015

Reinsurance Disclosures [Abstract]

Effects of reinsurance on premiums and contract charges

The effects of reinsurance on premiums and contract charges are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Direct	$	180		$	185		$	546		$	893
Assumed
Affiliate	33			32			98			97
Non-affiliate	208			199			627			410
Ceded
Affiliate	(13		)	—			(27		)	—
Non-affiliate	(78		)	(82		)	(239		)	(307		)
Premiums and contract charges, net of reinsurance	$	330		$	334		$	1,005		$	1,093

Effects of reinsurance on contract benefits

The effects of reinsurance on contract benefits are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Direct	$	228		$	277		$	749		$	1,023
Assumed
Affiliate	20			20			59			66
Non-affiliate	141			135			411			277
Ceded
Affiliate	(12		)	—			(23		)	—
Non-affiliate	(24		)	(76		)	(139		)	(265		)
Contract benefits, net of reinsurance	$	353		$	356		$	1,057		$	1,101

Effects of reinsurance on interest credited to contractholder funds

The effects of reinsurance on interest credited to contractholder funds are as follows:



($ in millions)	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Direct	$	170		$	167		$	486		$	656
Assumed
Affiliate	2			2			7			6
Non-affiliate	20			27			81			54
Ceded
Affiliate	(5		)	—			(10		)	—
Non-affiliate	(6		)	(5		)	(18		)	(20		)
Interest credited to contractholder funds, net of reinsurance	$	181		$	191		$	546		$	696

Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2015

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of components of other comprehensive income on a pre-tax and after-tax basis

The components of other comprehensive (loss) income on a pre-tax and after-tax basis are as follows:



($ in millions)	Three months ended September 30,
	2015									2014
	Pre- tax			Tax			After- tax			Pre- tax			Tax			After- tax
Unrealized net holding gains and losses arising during the period, net of related offsets	$	(286	)	$	224		$	(62	)	$	58		$	(20	)	$	38
Less: reclassification adjustment of realized capital gains and losses	178			62			240			21			(7		)	14
Unrealized net capital gains and losses	(464		)	162			(302		)	37			(13		)	24
Unrealized foreign currency translation adjustments	5			(2		)	3			—			—			—
Other comprehensive (loss) income	$	(459	)	$	160		$	(299	)	$	37		$	(13	)	$	24

	Nine months ended September 30,
	2015									2014
	Pre- tax			Tax			After- tax			Pre- tax			Tax			After- tax
Unrealized net holding gains and losses arising during the period, net of related offsets	$	(726	)	$	496		$	(230	)	$	525		$	(185	)	$	340
Less: reclassification adjustment of realized capital gains and losses	346			121			467			(7		)	2			(5		)
Unrealized net capital gains and losses	(1,072		)	375			(697		)	532			(187		)	345
Unrealized foreign currency translation adjustments	(6		)	2			(4		)	2			(1		)	1
Other comprehensive (loss) income	$	(1,078	)	$	377		$	(701	)	$	534		$	(188	)	$	346

General (Details) - USD ($) $ in Millions			1 Months Ended	3 Months Ended			9 Months Ended
General (Details) - USD ($) $ in Millions	Apr. 01, 2015	Jan. 01, 2015	Sep. 30, 2015	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Premiums and contract charges by product
Disposition of operations		$ 11					$ 10	$ 345
Loss on sale of subsidiary							2
Premiums				$ 150		$ 142	448	441
Contract charges				180		192	557	652
Total premiums and contract charges				330		334	1,005	1,093
Reinsurance recoverables			$ 2,878	2,878			2,878		$ 2,586
Dividends paid to parent			$ 103
Income Tax Expense, Effect of Adoption, Quantification					$ 17
Traditional life insurance
Premiums and contract charges by product
Premiums				129		120	384	365
Immediate annuities with life contingencies
Premiums and contract charges by product
Premiums				0		0	0	5
Accident and health insurance
Premiums and contract charges by product
Premiums				21		22	64	71
Interest-sensitive life insurance
Premiums and contract charges by product
Contract charges				176		188	547	638
Reinsurance recoverables	$ 476
Payments to Acquire Investments				494
Fixed annuities
Premiums and contract charges by product
Contract charges				$ 4		$ 4	10	14
Retained income
Premiums and contract charges by product
Loss on sale of subsidiary							2	0
Loss on reinsurance with an affiliate	$ 12						12	0
Dividends paid to parent							$ 103	$ 0

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Supplemental Cash Flow Information [Abstract]
Non-cash modifications of certain mortgage loans, fixed income securities, limited partnerships and other investments, as well as mergers completed with equity securities	$ 63	$ 89
Liabilities Assumed	45
Net change in proceeds managed
Net change in short-term investments	6	(151)
Operating cash flow provided (used)	6	(151)
Net change in cash	1	0
Net change in proceeds managed	7	(151)
Net change in liabilities
Liabilities for collateral, beginning of period	(510)	(328)
Liabilities for collateral, end of period	(503)	(479)
Operating cash flow (used) provided	$ (7)	$ 151

Investments-Fair Values (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 23,975	$ 25,822
Gross unrealized gains	1,580	2,486
Gross unrealized losses	(382)	(191)
Fair value	25,173	28,117
U.S. government and agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	508	668
Gross unrealized gains	68	102
Gross unrealized losses	0	0
Fair value	576	770
Municipal
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	2,212	3,156
Gross unrealized gains	323	520
Gross unrealized losses	(9)	(14)
Fair value	2,526	3,662
Corporate
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	18,198	19,465
Gross unrealized gains	1,045	1,670
Gross unrealized losses	(340)	(150)
Fair value	18,903	20,985
Foreign government
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	387	654
Gross unrealized gains	44	81
Gross unrealized losses	(1)	0
Fair value	430	735
ABS
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,737	773
Gross unrealized gains	9	13
Gross unrealized losses	(25)	(21)
Fair value	1,721	765
RMBS
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	439	554
Gross unrealized gains	54	55
Gross unrealized losses	(4)	(4)
Fair value	489	605
CMBS
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	481	538
Gross unrealized gains	34	43
Gross unrealized losses	(3)	(2)
Fair value	512	579
Redeemable preferred stock
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	13	14
Gross unrealized gains	3	2
Gross unrealized losses	0	0
Fair value	$ 16	$ 16

Investments- Scheduled Maturities (Details 2) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Amortized cost
Due in one year or less	$ 1,054
Due after one year through five years	6,438
Due after five years through ten years	8,882
Due after ten years	4,944
Subtotal	21,318
ABS, RMBS and CMBS	2,657
Amortized cost	23,975	$ 25,822
Fair value
Due in one year or less	1,064
Due after one year through five years	6,794
Due after five years through ten years	9,108
Due after ten years	5,485
Subtotal	22,451
ABS, RMBS and CMBS	2,722
Fair value	$ 25,173	$ 28,117

Investments- Net Ivestment Income (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net investment income
Investment income, before expense	$ 486	$ 480	$ 1,459	$ 1,667
Investment expense	(13)	(19)	(42)	(55)
Net investment income	473	461	1,417	1,612
Fixed income securities
Net investment income
Investment income, before expense	300	349	960	1,179
Mortgage loans
Net investment income
Investment income, before expense	46	48	147	188
Equity securities
Net investment income
Investment income, before expense	6	7	19	17
Limited partnership interests
Net investment income
Investment income, before expense	105	51	250	209
Short-term investments
Net investment income
Investment income, before expense	1	0	2	1
Policy loans
Net investment income
Investment income, before expense	9	10	26	30
Other
Net investment income
Investment income, before expense	$ 19	$ 15	$ 55	$ 43

Investments- Realized Capital Gains and Losses (Details 4) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Realized capital gains and losses by asset type
Realized capital gains and losses	$ 189	$ 28	$ 359	$ 18
Fixed income securities
Realized capital gains and losses by asset type
Realized capital gains and losses	256	(1)	370	(1)
Mortgage loans
Realized capital gains and losses by asset type
Realized capital gains and losses	1	2	2	3
Equity securities
Realized capital gains and losses by asset type
Realized capital gains and losses	(58)	(5)	(10)	11
Limited partnership interests
Realized capital gains and losses by asset type
Realized capital gains and losses	(20)	28	(18)	(5)
Derivatives
Realized capital gains and losses by asset type
Realized capital gains and losses	15	4	21	7
Other
Realized capital gains and losses by asset type
Realized capital gains and losses	$ (5)	$ 0	$ (6)	$ 3

Investments- Realized Capital Gains and Losses by Transaction Type (Details 5) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Investments [Abstract]
Impairment write-downs	$ (17)	$ 2	$ (29)	$ (2)
Change in intent write-downs	(50)	(21)	(57)	(40)
Net OTTI losses recognized in earnings	(67)	(19)	(86)	(42)
Sales and other	241	43	427	51
Valuation and settlements of derivative instruments	15	4	18	9
Total realized capital gains and losses	189	28	359	18
Fixed income securities
Investments [Abstract]
Net OTTI losses recognized in earnings	(7)	(3)	(13)	(3)
Total realized capital gains and losses	256	(1)	370	(1)
Schedule of Available for Sale Securities
Gross gains on sales of fixed income securities	308	23	524	76
Gross losses on sales of fixed income securities	$ 46	$ 5	$ 84	$ 34

Investments- Other-than-temporary impairment losses (Details 6) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other-than-temporary impairment losses
Gross	$ (73)	$ (19)	$ (95)	$ (41)
Included in OCI	6	0	9	(1)
Net OTTI losses recognized in earnings	(67)	(19)	(86)	(42)
Fixed income securities
Other-than-temporary impairment losses
Gross	(13)	(3)	(22)	(2)
Included in OCI	6	0	9	(1)
Net OTTI losses recognized in earnings	(7)	(3)	(13)	(3)
Municipal
Other-than-temporary impairment losses
Gross			0	(1)
Included in OCI			0	0
Net OTTI losses recognized in earnings			0	(1)
Corporate
Other-than-temporary impairment losses
Gross	(4)	(3)	(11)	(3)
Included in OCI	0	0	3	0
Net OTTI losses recognized in earnings	(4)	(3)	(8)	(3)
ABS
Other-than-temporary impairment losses
Gross	(8)	0	(10)	(1)
Included in OCI	6	0	6	0
Net OTTI losses recognized in earnings	(2)	0	(4)	(1)
RMBS
Other-than-temporary impairment losses
Gross			0	3
Included in OCI			0	(1)
Net OTTI losses recognized in earnings			0	2
CMBS
Other-than-temporary impairment losses
Gross	(1)	0	(1)	0
Included in OCI	0	0	0	0
Net OTTI losses recognized in earnings	(1)	0	(1)	0
Mortgage loans
Other-than-temporary impairment losses
Gross	0	2	0	6
Included in OCI	0	0	0	0
Net OTTI losses recognized in earnings	0	2	0	6
Equity securities
Other-than-temporary impairment losses
Gross	(58)	(21)	(68)	(29)
Included in OCI	0	0	0	0
Net OTTI losses recognized in earnings	(58)	(21)	(68)	(29)
Limited partnership interests
Other-than-temporary impairment losses
Gross	0	3	(2)	(16)
Included in OCI	0	0	0	0
Net OTTI losses recognized in earnings	0	3	(2)	(16)
Other
Other-than-temporary impairment losses
Gross	(2)	0	(3)	0
Included in OCI	0	0	0	0
Net OTTI losses recognized in earnings	$ (2)	$ 0	$ (3)	$ 0

Investments- Other-than-temporary losses included in AOCI (Details 7) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Investments [Abstract]
Net unrealized gains related to changes in valuation of fixed income securities subsequent to impairment measurement date	$ 134	$ 138
Other-than-temporary impairment losses included in accumulated other comprehensive income
Amount of other-than-temporary impairment losses included in accumulated other comprehensive income for fixed income securities, not included in earnings	(69)	(66)
Municipal
Other-than-temporary impairment losses included in accumulated other comprehensive income
Amount of other-than-temporary impairment losses included in accumulated other comprehensive income for fixed income securities, not included in earnings	(5)	(5)
ABS
Other-than-temporary impairment losses included in accumulated other comprehensive income
Amount of other-than-temporary impairment losses included in accumulated other comprehensive income for fixed income securities, not included in earnings	(8)	(1)
RMBS
Other-than-temporary impairment losses included in accumulated other comprehensive income
Amount of other-than-temporary impairment losses included in accumulated other comprehensive income for fixed income securities, not included in earnings	(50)	(55)
CMBS
Other-than-temporary impairment losses included in accumulated other comprehensive income
Amount of other-than-temporary impairment losses included in accumulated other comprehensive income for fixed income securities, not included in earnings	$ (6)	$ (5)

Investments- Rollforward of Cumulative Credit Losses (Details 8) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Credit Losses on Fixed Income Securities
Beginning balance	$ (206)	$ (229)	$ (209)	$ (299)
Additional credit loss for securities previously other-than-temporarily impaired	(3)	0	(5)	2
Additional credit loss for securities not previously other-than-temporarily impaired	(4)	(3)	(8)	(4)
Reduction in credit loss for securities disposed or collected	13	9	20	19
Reduction in credit loss for securities the Company has made the decision to sell or more likely than not will be required to sell	0	0	0	0
Change in credit loss due to accretion of increase in cash flows	0	1	2	1
Ending balance	(200)	(222)	(200)	(222)
Linco in Benefit Life Company [Member]
Credit Losses on Fixed Income Securities
Reduction in credit loss for securities disposed or collected	$ 0	$ 0	$ 0	$ 59

Investments-Unrealized Net Capitla Gains and Losses (Details 9) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair value
Fixed income securities	$ 25,173	$ 28,117
Equity securities	1,370	970
Short-term investments	937	857
Derivative instruments	11	2
Gross unrealized Gains
Fixed income securities	1,580	2,486
Equity securities	21	57
Short-term investments	0	0
Derivative instruments	11	3
Gross unrealized Losses
Fixed income securities	(382)	(191)
Equity securities	(74)	(14)
Short-term investments	0	0
Derivative instruments	0	(1)
Unrealized net gains (losses)
Fixed income securities	1,198	2,295
Equity securities	(53)	43
Short-term investments	0	0
Derivative instruments	11	2
Equity method ("EMA") limited partnerships	(2)	(2)
Unrealized net capital gains and losses, pre-tax	1,154	2,338
Amount recognized for:
Insurance reserves	0	(28)
DAC and DSI	(92)	(176)
Amounts recognized	(92)	(204)
Deferred income taxes	(377)	(752)
Total unrealized net capital gains and losses	685	1,382
Fair value of derivative securities classified as assets, with unrealized net gains (losses) in AOCI	4	3
Fair value of derivative securities classified as liabilities, with unrealized net gains (losses) in AOCI	$ (7)	$ 1

Investments- Change in Unrealized Net Capital Gains and Losses (Details 10) $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($)
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)
Change in unrealized net capital gains and losses	$ (1,184)
Amount recognized for:
Insurance reserves	28
DAC and DSI	84
Amounts recognized	112
Deferred income taxes	375
Decrease in unrealized net capital gains and losses, after-tax	(697)
Fixed income securities
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)
Change in unrealized net capital gains and losses	(1,097)
Equity securities
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)
Change in unrealized net capital gains and losses	(96)
Derivative instruments
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)
Change in unrealized net capital gains and losses	$ 9

Investments-Portfolio Monitoring (Details 11) $ in Millions	Sep. 30, 2015 USD ($) security	Dec. 31, 2014 USD ($) security
Fixed income and equity securities
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	1,203	639
Fair value, continuous unrealized loss position for less than 12 months	$ 5,204	$ 2,402
Unrealized losses, continuous unrealized loss position for less than 12 months	$ (328)	$ (85)
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	126	174
Fair value, continuous unrealized loss position for 12 months or more	$ 822	$ 1,265
Unrealized losses, continuous unrealized loss position for 12 months or more	(128)	(120)
Total unrealized losses
Total unrealized losses	$ (456)	$ (205)
Fixed income securities
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	784	345
Fair value, continuous unrealized loss position for less than 12 months	$ 4,462	$ 2,075
Unrealized losses, continuous unrealized loss position for less than 12 months	$ (254)	$ (72)
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	126	173
Fair value, continuous unrealized loss position for 12 months or more	$ 822	$ 1,259
Unrealized losses, continuous unrealized loss position for 12 months or more	(128)	(119)
Total unrealized losses
Gross unrealized losses	$ (382)	$ (191)
U.S. government and agencies
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	1	1
Fair value, continuous unrealized loss position for less than 12 months	$ 5	$ 1
Unrealized losses, continuous unrealized loss position for less than 12 months	$ 0	$ 0
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	0	0
Fair value, continuous unrealized loss position for 12 months or more	$ 0	$ 0
Unrealized losses, continuous unrealized loss position for 12 months or more	0	0
Total unrealized losses
Total unrealized losses	$ 0	$ 0
Municipal
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	21	17
Fair value, continuous unrealized loss position for less than 12 months	$ 56	$ 90
Unrealized losses, continuous unrealized loss position for less than 12 months	$ (1)	$ (1)
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	5	10
Fair value, continuous unrealized loss position for 12 months or more	$ 24	$ 47
Unrealized losses, continuous unrealized loss position for 12 months or more	(8)	(13)
Total unrealized losses
Total unrealized losses	$ (9)	$ (14)
Corporate
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	686	281
Fair value, continuous unrealized loss position for less than 12 months	$ 3,948	$ 1,780
Unrealized losses, continuous unrealized loss position for less than 12 months	$ (244)	$ (69)
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	60	91
Fair value, continuous unrealized loss position for 12 months or more	$ 551	$ 875
Unrealized losses, continuous unrealized loss position for 12 months or more	(96)	(81)
Total unrealized losses
Total unrealized losses	$ (340)	$ (150)
Foreign government
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	2	0
Fair value, continuous unrealized loss position for less than 12 months	$ 32	$ 0
Unrealized losses, continuous unrealized loss position for less than 12 months	$ (1)	$ 0
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	0	1
Fair value, continuous unrealized loss position for 12 months or more	$ 0	$ 15
Unrealized losses, continuous unrealized loss position for 12 months or more	0	0
Total unrealized losses
Total unrealized losses	$ (1)	$ 0
ABS
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	37	19
Fair value, continuous unrealized loss position for less than 12 months	$ 387	$ 168
Unrealized losses, continuous unrealized loss position for less than 12 months	$ (8)	$ (2)
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	19	23
Fair value, continuous unrealized loss position for 12 months or more	$ 186	$ 217
Unrealized losses, continuous unrealized loss position for 12 months or more	(17)	(19)
Total unrealized losses
Total unrealized losses	$ (25)	$ (21)
RMBS
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	31	19
Fair value, continuous unrealized loss position for less than 12 months	$ 2	$ 3
Unrealized losses, continuous unrealized loss position for less than 12 months	$ 0	$ 0
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	40	45
Fair value, continuous unrealized loss position for 12 months or more	$ 57	$ 73
Unrealized losses, continuous unrealized loss position for 12 months or more	(4)	(4)
Total unrealized losses
Total unrealized losses	$ (4)	$ (4)
CMBS
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	6	8
Fair value, continuous unrealized loss position for less than 12 months	$ 32	$ 33
Unrealized losses, continuous unrealized loss position for less than 12 months	$ 0	$ 0
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	2	3
Fair value, continuous unrealized loss position for 12 months or more	$ 4	$ 32
Unrealized losses, continuous unrealized loss position for 12 months or more	(3)	(2)
Total unrealized losses
Total unrealized losses	$ (3)	$ (2)
Equity securities
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	419	294
Fair value, continuous unrealized loss position for less than 12 months	$ 742	$ 327
Unrealized losses, continuous unrealized loss position for less than 12 months	$ (74)	$ (13)
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	0	1
Fair value, continuous unrealized loss position for 12 months or more	$ 0	$ 6
Unrealized losses, continuous unrealized loss position for 12 months or more	0	(1)
Total unrealized losses
Gross unrealized losses on equity securities	$ (74)	$ (14)
Investment grade fixed income securities
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	422	167
Fair value, continuous unrealized loss position for less than 12 months	$ 2,931	$ 1,275
Unrealized losses, continuous unrealized loss position for less than 12 months	$ (114)	$ (28)
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	77	127
Fair value, continuous unrealized loss position for 12 months or more	$ 550	$ 989
Unrealized losses, continuous unrealized loss position for 12 months or more	(73)	(79)
Total unrealized losses
Total unrealized losses	$ (187)	$ (107)
Below investment grade fixed income securities
Less than 12 months
Number of issues, continuous unrealized loss position for less than 12 months \| security	362	178
Fair value, continuous unrealized loss position for less than 12 months	$ 1,531	$ 800
Unrealized losses, continuous unrealized loss position for less than 12 months	$ (140)	$ (44)
12 months or more
Number of issues, continuous unrealized loss position for 12 months or more (in Security) \| security	49	46
Fair value, continuous unrealized loss position for 12 months or more	$ 272	$ 270
Unrealized losses, continuous unrealized loss position for 12 months or more	(55)	(40)
Total unrealized losses
Total unrealized losses	$ (195)	$ (84)

Investments (Details 12) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Other details of unrealized loss
Unrealized losses related to securities with unrealized loss position less than 20% of amortized cost or cost	$ (296)
Unrealized losses related to securities with unrealized loss position greater than or equal to 20% of amortized cost or cost	(160)
Limited partnership interests	2,261	$ 2,024
Equity method limited partnerships
Other details of unrealized loss
Limited partnership interests	1,740	1,520
Fixed income and equity securities
Other details of unrealized loss
Available for sale Securities Unrealized Losses	(456)	(205)
Investment grade fixed income securities
Other details of unrealized loss
Unrealized losses related to securities with unrealized loss position less than 20% of amortized cost or cost	(126)
Available for sale Securities Unrealized Losses	(187)	(107)
Unrealized losses related to securities with unrealized loss position greater than or equal to 20% of amortized cost or cost	(61)
Equity securities
Other details of unrealized loss
Unrealized losses related to securities with unrealized loss position less than 20% of amortized cost or cost	(52)
Below Investment Grade Equity Securities [Member]
Other details of unrealized loss
Unrealized losses related to securities with unrealized loss position greater than or equal to 20% of amortized cost or cost	(77)
Below investment grade fixed income securities
Other details of unrealized loss
Unrealized losses related to securities with unrealized loss position less than 20% of amortized cost or cost	(118)
Available for sale Securities Unrealized Losses	(195)	(84)
Available for sale Securities, Unrealized Losses Having Loss of Less than Twenty Percent, Less than 12 Months	90
Unrealized losses related to securities with unrealized loss position greater than or equal to 20% of amortized cost or cost	(22)
Unrealized losses related to securities with unrealized loss position greater than 20% of cost or amortized cost, unrealized loss position of 12 or more consecutive months	6
Carrying value \| Cost method limited partnership interests
Other details of unrealized loss
Limited partnership interests	$ 526	$ 508

Investments-Carrying Value of Non-impaired Fixed Rate and Variable Rate Morgage Loans (Details 13) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Dec. 31, 2014
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution
Total					$ 3,827	$ 3,686
Net carrying value of impaired mortgage loans
Impaired mortgage loans with a valuation allowance					9	16
Impaired mortgage loans without a valuation allowance					0	0
Total impaired mortgage loans					9	16
Valuation allowance on impaired mortgage loans	$ 7	$ 9	$ 8	$ 21	7	8
Rollforward of the valuation allowance on impaired mortgage loans
Beginning balance	7	9	8	21
Net decrease in valuation allowance	0	(2)	0	(6)
Charge offs	0	0	(1)	(8)
Ending balance	$ 7	$ 7	7	7
Non-impaired mortgage loans
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution
Fixed rate mortgage loans					3,817	3,669
Variable rate mortgage loans					1	1
Total					3,818	3,670
Non-impaired mortgage loans \| Below 1.0
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution
Fixed rate mortgage loans					97	110
Variable rate mortgage loans					0	0
Total					97	110
Non-impaired mortgage loans \| 1.0 - 1.25
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution
Fixed rate mortgage loans					381	387
Variable rate mortgage loans					0	0
Total					381	387
Non-impaired mortgage loans \| 1.26 - 1.50
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution
Fixed rate mortgage loans					1,173	1,118
Variable rate mortgage loans					0	1
Total					1,173	1,119
Non-impaired mortgage loans \| Above 1.50
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution
Fixed rate mortgage loans					2,166	2,054
Variable rate mortgage loans					1	0
Total					$ 2,167	$ 2,054
Mortgage loans
Average carrying value and interest income recognized on impaired mortgage loans
Average balance impaired mortgage loans			$ 12	$ 29

Fair Value of Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	$ 25,173	$ 28,117
Equity securities	1,370	970
Short-term investments	937	857
Other investments:
Free-standing derivatives, assets			$ 3
Separate account assets	3,677	4,396
Derivative asset, fair value, gross liability and obligation to return cash, offset	$ (11)	$ (2)
% of total assets at fair value	0.00%	0.00%
Other liabilities:
Free-standing derivatives, liabilities	$ (9)		$ (9)
Free standing derivative liabilities derivative liability, fair value, gross asset and right to reclaim cash, offset	$ (1)	$ 2
% of total liabilities at fair value	0.30%	(0.60%)
U.S. government and agencies
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	$ 576	$ 770
Municipal
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	2,526	3,662
Corporate
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	18,903	20,985
Foreign government
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	430	735
ABS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	1,721	765
RMBS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	489	605
CMBS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	512	579
Redeemable preferred stock
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	16	16
Quoted prices in active markets for identical assets (Level 1)
Other investments:
Total assets at fair value	$ 5,164	$ 5,561
% of total assets at fair value	16.50%	16.20%
Other liabilities:
Total liabilities at fair value	$ (2)	$ 0
% of total liabilities at fair value	0.70%	0.00%
Significant other observable inputs (Level 2)
Other investments:
Total assets at fair value	$ 25,209	$ 27,805
% of total assets at fair value	80.80%	80.70%
Other liabilities:
Total liabilities at fair value	$ (1)	$ (24)
% of total liabilities at fair value	0.30%	6.80%
Significant unobservable inputs (Level 3)
Other investments:
Total assets at fair value	$ 828	$ 1,077
% of total assets at fair value	2.70%	3.10%
Other liabilities:
Total liabilities at fair value	$ (304)	$ (332)
% of total liabilities at fair value	98.70%	93.80%
Recurring basis
Other investments:
Free Standing Derivative Assets, Derivative Asset, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	$ (11)	$ (2)
Derivative asset, fair value, gross liability and obligation to return cash, offset	(11)	(2)
Other liabilities:
Free standing derivative liabilities derivative liability, fair value, gross asset and right to reclaim cash, offset	(1)	2
Recurring basis \| Quoted prices in active markets for identical assets (Level 1)
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	136	147
Equity securities	1,300	927
Short-term investments	51	90
Other investments:
Free-standing derivatives, assets	0	0
Separate account assets	3,677	4,396
Other assets	0	1
Total assets at fair value	5,164	5,561
Other liabilities:
Free-standing derivatives, liabilities	(2)	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| U.S. government and agencies
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	136	147
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| Municipal
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| Corporate
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| Foreign government
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| ABS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| RMBS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| CMBS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| Redeemable preferred stock
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Recurring basis \| Significant other observable inputs (Level 2)
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	24,282	26,942
Equity securities	6	6
Short-term investments	886	767
Other investments:
Free-standing derivatives, assets	35	90
Separate account assets	0	0
Other assets	0	0
Total assets at fair value	25,209	27,805
Other liabilities:
Free-standing derivatives, liabilities	(1)	(24)
Recurring basis \| Significant other observable inputs (Level 2) \| U.S. government and agencies
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	440	623
Recurring basis \| Significant other observable inputs (Level 2) \| Municipal
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	2,437	3,556
Recurring basis \| Significant other observable inputs (Level 2) \| Corporate
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	18,368	20,193
Recurring basis \| Significant other observable inputs (Level 2) \| Foreign government
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	430	735
Recurring basis \| Significant other observable inputs (Level 2) \| ABS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	1,590	636
Recurring basis \| Significant other observable inputs (Level 2) \| RMBS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	489	605
Recurring basis \| Significant other observable inputs (Level 2) \| CMBS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	512	578
Recurring basis \| Significant other observable inputs (Level 2) \| Redeemable preferred stock
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	16	16
Recurring basis \| Significant unobservable inputs (Level 3)
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	755	1,028
Equity securities	64	37
Short-term investments	0	0
Other investments:
Free-standing derivatives, assets	1	2
Separate account assets	0	0
Other assets	1	1
Total assets at fair value	821	1,068
Other liabilities:
Free-standing derivatives, liabilities	(9)	(9)
Recurring basis \| Significant unobservable inputs (Level 3) \| U.S. government and agencies
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Recurring basis \| Significant unobservable inputs (Level 3) \| Municipal
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	89	106
Recurring basis \| Significant unobservable inputs (Level 3) \| Corporate
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	535	792
Recurring basis \| Significant unobservable inputs (Level 3) \| Foreign government
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Recurring basis \| Significant unobservable inputs (Level 3) \| ABS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	131	129
Recurring basis \| Significant unobservable inputs (Level 3) \| RMBS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Recurring basis \| Significant unobservable inputs (Level 3) \| CMBS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	1
Recurring basis \| Significant unobservable inputs (Level 3) \| Redeemable preferred stock
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	0	0
Non-recurring basis
Other investments:
Derivative asset, fair value, gross liability and obligation to return cash, offset	0
Non-recurring basis \| Quoted prices in active markets for identical assets (Level 1)
Other investments:
Total assets at fair value	0	0
Non-recurring basis \| Significant other observable inputs (Level 2)
Other investments:
Total assets at fair value	0	0
Non-recurring basis \| Significant unobservable inputs (Level 3)
Other investments:
Total assets at fair value	7	9
Contractholder funds: Derivatives embedded in life and annuity contracts \| Recurring basis \| Quoted prices in active markets for identical assets (Level 1)
Contract holder funds:
Derivatives embedded in life and annuity contracts	0	0
Contractholder funds: Derivatives embedded in life and annuity contracts \| Recurring basis \| Significant other observable inputs (Level 2)
Contract holder funds:
Derivatives embedded in life and annuity contracts	0	0
Contractholder funds: Derivatives embedded in life and annuity contracts \| Recurring basis \| Significant unobservable inputs (Level 3)
Contract holder funds:
Derivatives embedded in life and annuity contracts	(295)	(323)
Fair value
Other investments:
Total assets at fair value	$ 31,190	$ 34,441
% of total assets at fair value	100.00%	100.00%
Mortgage loans		$ 6
Limited partnership interests	$ 7	3
Other liabilities:
Total liabilities at fair value	$ (308)	$ (354)
% of total liabilities at fair value	100.00%	100.00%
Fair value \| Recurring basis
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	$ 25,173	$ 28,117
Equity securities	1,370	970
Short-term investments	937	857
Other investments:
Free-standing derivatives, assets	25	90
Separate account assets	3,677	4,396
Other assets	1	2
Total assets at fair value	31,183	34,432
Other liabilities:
Free-standing derivatives, liabilities	(13)	(31)
Fair value \| Recurring basis \| U.S. government and agencies
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	576	770
Fair value \| Recurring basis \| Municipal
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	2,526	3,662
Fair value \| Recurring basis \| Corporate
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	18,903	20,985
Fair value \| Recurring basis \| Foreign government
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	430	735
Fair value \| Recurring basis \| ABS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	1,721	765
Fair value \| Recurring basis \| RMBS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	489	605
Fair value \| Recurring basis \| CMBS
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	512	579
Fair value \| Recurring basis \| Redeemable preferred stock
Assets
Fixed income securities, at fair value (amortized cost $23,975 and $25,822)	16	16
Fair value \| Non-recurring basis
Other investments:
Total assets at fair value	7	9
Fair value \| Contractholder funds: Derivatives embedded in life and annuity contracts \| Recurring basis
Contract holder funds:
Derivatives embedded in life and annuity contracts	(295)	(323)
Fixed Income Securities Valued Based on Nonbinding Broker Quotes [Member] \| Significant unobservable inputs (Level 3)
Other investments:
Total assets at fair value	$ 635	$ 914

Fair Value of Assets and Liabilities (Level 3 Fair Value Measurment) (Details) - Significant unobservable inputs (Level 3) - Derivatives embedded in life and annuity contracts - Equity-indexed and forward starting options - Stochastic cash flow model - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Quantitative information about the significant unobservable inputs
Liabilities, Fair Value Disclosure, Recurring	$ (242)	$ (278)
Weighted average projected option cost (as a percent)	1.76%	1.76%
Minimum
Quantitative information about the significant unobservable inputs
Projected option cost (as a percent)	1.00%	1.00%
Maximum
Quantitative information about the significant unobservable inputs
Projected option cost (as a percent)	2.20%	2.00%

Fair Value of Assets and Liabilities (Level 3 Assets and Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period	$ 815	$ 1,098	$ 1,604	$ 1,059	$ 1,604
Total gains (losses) included in: Net income	11	3		13	14
Total gains (losses) included in: OCI	(11)	(12)		(17)	3
Transfers into Level 3	15	18		23	22
Transfers out of Level 3	(23)	0		(177)	(57)
Sold in LBL disposition					(347)
Purchases/Issues	47	44		74	70
Sales	(25)	(4)		(75)	(104)
Issues	0	0		0
Settlements	(17)	(56)		(88)	(114)
Balance at end of period	812	1,091		812	1,091
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	(315)	(331)	(553)	(323)	(553)
Total gains (losses) included in: net income	19	9		24	12
Total gains (losses) included in: OCI	0	0		0	0
Transfers into Level 3	0	0		0	0
Transfers out of Level 3	0	0		0	0
Purchases	0	0		0
Sold in LBL disposition					230
Issues		0
Purchases/Issues	0			(1)	(17)
Sales	0	0		0	0
Settlements	1	1		5	7
Balance at end of period	(295)	(321)		(295)	(321)
Fixed income securities
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period	775	1,095	1,241	1,028	1,241
Total gains (losses) included in: Net income	12	3		13	13
Total gains (losses) included in: OCI	(10)	(12)		(17)	1
Transfers into Level 3	15	18		23	18
Transfers out of Level 3	(23)	0		(177)	(55)
Sold in LBL disposition					4
Purchases/Issues	28	14		47	37
Sales	(25)	(4)		(75)	(96)
Issues		0
Settlements	(17)	(55)		(87)	(104)
Balance at end of period	755	1,059		755	1,059
Municipal
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period	101	102	119	106	119
Total gains (losses) included in: Net income	2	0		3	(1)
Total gains (losses) included in: OCI	0	0		(2)	3
Transfers into Level 3	0	0		0	0
Transfers out of Level 3	0	0		0	(17)
Sold in LBL disposition					0
Purchases/Issues	0	0		0	0
Sales	(14)	(1)		(17)	(3)
Issues	0	0		0
Settlements	0	0		(1)	0
Balance at end of period	89	101		89	101
Corporate
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period	569	883	1,008	792	1,008
Total gains (losses) included in: Net income	10	3		11	14
Total gains (losses) included in: OCI	(9)	(13)		(15)	(4)
Transfers into Level 3	0	18		2	18
Transfers out of Level 3	(23)	0		(150)	(26)
Sold in LBL disposition					0
Purchases/Issues	1	4		20	16
Sales	(11)	(3)		(58)	(92)
Issues	0	0		0
Settlements	(2)	(53)		(67)	(95)
Balance at end of period	535	839		535	839
ABS
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period	105	105	112	129	112
Total gains (losses) included in: Net income	0	0		(1)	0
Total gains (losses) included in: OCI	(1)	1		1	2
Transfers into Level 3	15	0		21	0
Transfers out of Level 3	0	0		(27)	(12)
Sold in LBL disposition					0
Purchases/Issues	27	10		27	21
Sales	0	0		0	0
Issues	0	0		0
Settlements	(15)	(2)		(19)	(9)
Balance at end of period	131	114		131	114
CMBS
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period		5	1	1	1
Total gains (losses) included in: Net income		0		0	0
Total gains (losses) included in: OCI		0		(1)	0
Transfers into Level 3		0		0	0
Transfers out of Level 3		0		0	0
Sold in LBL disposition			4		4
Purchases/Issues		0		0	0
Sales		0		0	0
Issues		0		0
Settlements		0		0	0
Balance at end of period	0	5		0	5
Redeemable preferred stock
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period			1		1
Total gains (losses) included in: Net income					0
Total gains (losses) included in: OCI					0
Transfers into Level 3					0
Transfers out of Level 3					0
Sold in LBL disposition					0
Purchases/Issues					0
Sales					(1)
Settlements					0
Balance at end of period		0			0
Equity securities
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period	46	7	6	37	6
Total gains (losses) included in: Net income	0	0		0	0
Total gains (losses) included in: OCI	(1)	0		0	0
Transfers into Level 3	0	0		0	0
Transfers out of Level 3	0	0		0	0
Sold in LBL disposition					0
Purchases/Issues	19	30		27	31
Sales	0	0		0	0
Issues	0	0		0
Settlements	0	0		0	0
Balance at end of period	64	37		64	37
Free-standing derivatives, net
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period	(7)	(5)	(5)	(7)	(5)
Total gains (losses) included in: Net income	(1)	0		0	1
Total gains (losses) included in: OCI	0	0		0	0
Transfers into Level 3	0	0		0	0
Transfers out of Level 3	0	0		0	0
Sold in LBL disposition					0
Purchases/Issues	0	0		0	2
Sales	0	0		0	0
Issues	0	0		0
Settlements	0	(1)		(1)	(4)
Balance at end of period	(8)	(6)		(8)	(6)
Other assets
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period	1	1	0	1	0
Total gains (losses) included in: Net income	0	0		0	1
Total gains (losses) included in: OCI	0	0		0	0
Transfers into Level 3	0	0		0	0
Transfers out of Level 3	0	0		0	0
Sold in LBL disposition					0
Purchases/Issues	0	0		0	0
Sales	0	0		0	0
Issues	0	0		0
Settlements	0	0		0	0
Balance at end of period	1	1		1	1
Assets held for sale
Rollforward of Level 3 assets held at fair value on a recurring basis
Balance at beginning of period			362		362
Total gains (losses) included in: Net income					(1)
Total gains (losses) included in: OCI					2
Transfers into Level 3					4
Transfers out of Level 3					(2)
Sold in LBL disposition			(4)		(351)
Purchases/Issues					0
Sales					(8)
Settlements					(6)
Balance at end of period		0			0
Contractholder funds: Derivatives embedded in life and annuity contracts
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	(315)	(331)	(307)	(323)	(307)
Total gains (losses) included in: net income	19	9		24	(5)
Total gains (losses) included in: OCI	0	0		0	0
Transfers into Level 3	0	0		0	0
Transfers out of Level 3	0	0		0	0
Purchases	0	0		0
Sold in LBL disposition					0
Issues		0
Purchases/Issues	0			(1)	(13)
Sales	0	0		0	0
Settlements	1	1		5	4
Balance at end of period	(295)	(321)		(295)	(321)
Liabilities held for sale
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period			$ (246)		(246)
Total gains (losses) included in: net income	$ 0	0		$ 0	17
Total gains (losses) included in: OCI					0
Transfers into Level 3					0
Transfers out of Level 3					0
Sold in LBL disposition					230
Purchases/Issues					(4)
Sales					0
Settlements					3
Balance at end of period		$ 0			$ 0

Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Level 3 Assets and Liabilities)(Footnotes to Table) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings	$ 30	$ 12		$ 37	$ 26
Total gains (losses) included in: Net income	11	3		13	14
Free-standing derivatives, assets		3			3
Free Standing Derivative Liabilities, Fair Value Disclosure	9	9		9	9
Sold in LBL disposition					(347)
CMBS
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total gains (losses) included in: Net income		0		0	0
Sold in LBL disposition			$ 4		4
ABS
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total gains (losses) included in: Net income	0	0		(1)	0
Sold in LBL disposition					0
Assets held for sale
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total gains (losses) included in: Net income					(1)
Sold in LBL disposition			$ (4)		(351)
Net investment income
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total gains (losses) included in: Net income	3	3		9	9
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	3	3		11	6
Interest credited to contractholder funds
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total gains (losses) included in: Net income	27	5		32	5
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	27	5		32	5
Contract benefits
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	(8)	$ 4		(8)	8
Discontinued Operations
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date					(4)
Realized capital gains and losses
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total gains (losses) included in: Net income	8			4	8
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	(2)			(2)	$ 5
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Free-standing derivatives, assets	1			1		$ 2
Free Standing Derivative Liabilities, Fair Value Disclosure	$ 9			$ 9		$ 9

Fair Value of Assets and Liabilities (Details 5) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Earnings	$ 1	$ 3	$ 9	$ 12
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	19	9	24	12
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings	30	12	37	26
Realized capital gains and losses
Gains (losses) included in net income for Level 3 assets and liabilities:
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	(2)		(2)	5
Net investment income
Gains (losses) included in net income for Level 3 assets and liabilities:
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	3	3	11	6
Interest credited to contractholder funds
Gains (losses) included in net income for Level 3 assets and liabilities:
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	27	5	32	5
Contract benefits
Gains (losses) included in net income for Level 3 assets and liabilities:
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	(8)	4	(8)	8
Discontinued Operations
Gains (losses) included in net income for Level 3 assets and liabilities:
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date				(4)
Gain (Loss) on Investments [Member]
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings	20	12	33	24
Contractholder funds: Derivatives embedded in life and annuity contracts
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	19	9	24	(5)
Liabilities held for sale
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	0	0	0	17
Fixed income securities
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Earnings	3	3	9	6
Municipal
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Earnings	0	0	0	(1)
Corporate
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Earnings	3	3	8	8
Equity securities
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Earnings	(1)	0	0	0
ABS
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Earnings	0	0	1	0
CMBS
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Earnings	0	0	0	(1)
Assets held for sale
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Earnings	0	0	0	(1)
Free-standing derivatives, net
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Earnings	(1)	0	0	6
Other assets
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Earnings	$ 0	$ 0	$ 0	$ 1

Fair Value of Assets and Liabilities (Details 6) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Financial assets
Mortgage loans	$ 3,827	$ 3,686
Financial liabilities
Notes due to related parties	275	275
Liability for collateral	503	510	$ 479	$ 328
Carrying value
Financial assets
Cost method limited partnerships	526	508
Bank loans	510	431
Agent loans	416	368
Notes due from related party	275	275
Financial liabilities
Contractholder funds on investment contracts	12,682	13,708
Notes due to related parties	275	275
Liability for collateral	503	510
Fair value
Financial assets
Mortgage loans	4,020	3,922
Cost method limited partnerships	692	686
Bank loans	507	427
Agent loans	406	361
Notes due from related party	275	275
Financial liabilities
Contractholder funds on investment contracts	13,189	14,364
Notes due to related parties	275	275
Liability for collateral	$ 503	$ 510

Derivative Financial Instruments (Details) $ in Millions	9 Months Ended
Derivative Financial Instruments (Details) $ in Millions	Sep. 30, 2015 USD ($) contract	Dec. 31, 2014 USD ($) contract
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Assumed recoveries under sale of credit protection	$ 0
Securities pledged in the form of margin deposits	11
Derivatives, Fair Value
Total asset derivatives, Notional amount	325	$ 407
Total liability derivatives, Notional amount	2,962	3,242
Total derivatives, Notional amount	$ 3,287	$ 3,649
Total asset derivatives, Number of contracts \| contract	4,209	3,929
Total liability derivatives, Number of contracts \| contract	5,239	3,331
Total derivatives, Number of contracts \| contract	9,448	7,260
Total	$ 30	$ 92
Total	(300)	(354)
Total derivatives, Fair value, net	(270)	(262)
Asset derivatives, Gross asset	30	92
Asset derivatives, Gross liability	0	0
Liability derivatives, Gross asset	7	2
Liability derivatives, Gross liability	(307)	(356)
Derivatives not designated as accounting hedging instruments
Derivatives, Fair Value
Total asset derivatives, Notional amount	307	322
Total liability derivatives, Notional amount	$ 2,906	$ 3,192
Total asset derivatives, Number of contracts \| contract	4,209	3,929
Total liability derivatives, Number of contracts \| contract	5,239	3,331
Total	$ 26	$ 89
Total	(307)	(353)
Asset derivatives, Gross asset	26	89
Asset derivatives, Gross liability	0	0
Liability derivatives, Gross asset	0	2
Liability derivatives, Gross liability	(307)	(355)
Foreign currency swap agreements \| Derivatives designated as accounting hedging instruments \| Other investments
Derivatives, Fair Value
Total asset derivatives, Notional amount	18	85
Total	4	3
Asset derivatives, Gross asset	4	3
Asset derivatives, Gross liability	0	0
Foreign currency swap agreements \| Derivatives designated as accounting hedging instruments \| Other liabilities & accrued expenses
Derivatives, Fair Value
Total liability derivatives, Notional amount	56	50
Total	7	(1)
Liability derivatives, Gross asset	7	0
Liability derivatives, Gross liability	0	(1)
Interest rate cap agreements \| Derivatives not designated as accounting hedging instruments \| Other investments
Derivatives, Fair Value
Total asset derivatives, Notional amount	135	163
Total	1	2
Asset derivatives, Gross asset	1	2
Asset derivatives, Gross liability	0	0
Interest rate cap agreements \| Derivatives not designated as accounting hedging instruments \| Other liabilities & accrued expenses
Derivatives, Fair Value
Total liability derivatives, Notional amount		11
Total		0
Liability derivatives, Gross asset		0
Liability derivatives, Gross liability		0
Financial Futures Contracts [Member] \| Derivatives not designated as accounting hedging instruments \| Other assets
Derivatives, Fair Value
Total asset derivatives, Notional amount	$ 0
Total asset derivatives, Number of contracts \| contract	330
Total	$ 0
Asset derivatives, Gross asset	0
Asset derivatives, Gross liability	0
Financial Futures Contracts [Member] \| Derivatives not designated as accounting hedging instruments \| Other liabilities & accrued expenses
Derivatives, Fair Value
Total liability derivatives, Notional amount		$ 0
Total liability derivatives, Number of contracts \| contract		200
Total		$ 0
Liability derivatives, Gross asset		0
Liability derivatives, Gross liability		0
Interest rate swap agreements \| Derivatives not designated as accounting hedging instruments \| Other liabilities & accrued expenses
Derivatives, Fair Value
Total liability derivatives, Notional amount	85	85
Total	0	1
Liability derivatives, Gross asset	0	1
Liability derivatives, Gross liability	0	0
Options \| Derivatives not designated as accounting hedging instruments \| Other investments
Derivatives, Fair Value
Total asset derivatives, Notional amount	$ 0	$ 0
Total asset derivatives, Number of contracts \| contract	3,820	3,225
Total	$ 21	$ 83
Asset derivatives, Gross asset	21	83
Asset derivatives, Gross liability	0	0
Financial futures contracts \| Derivatives not designated as accounting hedging instruments \| Other assets
Derivatives, Fair Value
Total asset derivatives, Notional amount	$ 0	$ 0
Total asset derivatives, Number of contracts \| contract	59	704
Total	$ 0	$ 1
Asset derivatives, Gross asset	0	1
Asset derivatives, Gross liability	0	0
Options and futures \| Derivatives not designated as accounting hedging instruments \| Other liabilities & accrued expenses
Derivatives, Fair Value
Total liability derivatives, Notional amount	$ 0	$ 0
Total liability derivatives, Number of contracts \| contract	5,239	3,131
Total	$ (3)	$ (22)
Liability derivatives, Gross asset	0	0
Liability derivatives, Gross liability	(3)	(22)
Foreign currency forwards \| Derivatives not designated as accounting hedging instruments \| Other investments
Derivatives, Fair Value
Total asset derivatives, Notional amount	60	57
Total	0	0
Asset derivatives, Gross asset	0	0
Asset derivatives, Gross liability	0	0
Foreign currency forwards \| Derivatives not designated as accounting hedging instruments \| Other liabilities & accrued expenses
Derivatives, Fair Value
Total liability derivatives, Notional amount	10	36
Total	0	1
Liability derivatives, Gross asset	0	1
Liability derivatives, Gross liability	0	0
Guaranteed accumulation benefits \| Derivatives not designated as accounting hedging instruments \| Contractholder funds
Derivatives, Fair Value
Total liability derivatives, Notional amount	496	615
Total	(39)	(32)
Liability derivatives, Gross asset	0	0
Liability derivatives, Gross liability	(39)	(32)
Guaranteed withdrawal benefits \| Derivatives not designated as accounting hedging instruments \| Contractholder funds
Derivatives, Fair Value
Total liability derivatives, Notional amount	342	425
Total	(14)	(13)
Liability derivatives, Gross asset	0	0
Liability derivatives, Gross liability	(14)	(13)
Equity-indexed and forward starting options in life and annuity product contracts \| Derivatives not designated as accounting hedging instruments \| Contractholder funds
Derivatives, Fair Value
Total liability derivatives, Notional amount	1,773	1,786
Total	(242)	(278)
Liability derivatives, Gross asset	0	0
Liability derivatives, Gross liability	(242)	(278)
Other embedded derivative financial instruments \| Derivatives not designated as accounting hedging instruments \| Contractholder funds
Derivatives, Fair Value
Total liability derivatives, Notional amount	85	85
Total	0	0
Liability derivatives, Gross asset	0	0
Liability derivatives, Gross liability	0	0
Credit default swaps – buying protection \| Derivatives not designated as accounting hedging instruments \| Other investments
Derivatives, Fair Value
Total asset derivatives, Notional amount	29	19
Total	2	0
Asset derivatives, Gross asset	2	0
Asset derivatives, Gross liability	0	0
Credit default swaps – buying protection \| Derivatives not designated as accounting hedging instruments \| Other liabilities & accrued expenses
Derivatives, Fair Value
Total liability derivatives, Notional amount	15	49
Total	0	(1)
Liability derivatives, Gross asset	0	0
Liability derivatives, Gross liability	0	(1)
Credit default swaps – selling protection \| Derivatives not designated as accounting hedging instruments \| Other investments
Derivatives, Fair Value
Total asset derivatives, Notional amount	80	80
Total	1	2
Asset derivatives, Gross asset	1	2
Asset derivatives, Gross liability	0	0
Credit default swaps – selling protection \| Derivatives not designated as accounting hedging instruments \| Other liabilities & accrued expenses
Derivatives, Fair Value
Total liability derivatives, Notional amount	100	100
Total	(9)	(9)
Liability derivatives, Gross asset	0	0
Liability derivatives, Gross liability	(9)	(9)
Other contracts \| Derivatives not designated as accounting hedging instruments \| Other assets
Derivatives, Fair Value
Total asset derivatives, Notional amount	3	3
Total	1	1
Asset derivatives, Gross asset	1	1
Asset derivatives, Gross liability	$ 0	$ 0

Derivative Financial Instruments (Details 2) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Asset derivatives
Gross amount	$ 30	$ 92
Counter- party netting	0	0
Total	30	92
Liability derivatives
Gross amount	(307)	(356)
Counter- party netting	7	2
Total	(300)	(354)
OTC derivatives
Asset derivatives
Gross amount	15	7
Counter- party netting	(7)	(2)
Cash collateral (received) pledged	(4)	0
Total	4	5
Securities collateral (received) pledged	(1)	(4)
Net amount	3	1
Liability derivatives
Gross amount	(9)	(11)
Counter- party netting	7	2
Cash collateral (received) pledged	(8)	0
Total	(10)	(9)
Securities collateral (received) pledged	7	7
Net amount	$ (3)	$ (2)

Derivative Financial Instruments (Details 4) $ in Millions	Sep. 30, 2015 USD ($) party	Dec. 31, 2014 USD ($) party
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash and securities pledged as collateral by counterparties	$ 13
Securities pledged as collateral to counterparties	$ 7
Credit Derivatives
Number of counter-parties (in Party) \| party	8	7
Notional amount	$ 313	$ 323
Credit exposure	15	5
Exposure, net of collateral	3	2
Gross liability fair value of contracts containing credit-risk-contingent features	9	11
Gross asset fair value of contracts containing credit-risk-contingent features and subject to MNAs	0	(2)
Collateral posted under MNAs for contracts containing credit-risk-contingent features	(7)	(7)
Maximum amount of additional exposure for contracts with credit-risk-contingent features if all features were triggered concurrently	$ 2	$ 2
A+
Credit Derivatives
Number of counter-parties (in Party) \| party	1	1
Notional amount	$ 95	$ 164
Credit exposure	5	2
Exposure, net of collateral	$ 1	$ 1
A
Credit Derivatives
Number of counter-parties (in Party) \| party	5	3
Notional amount	$ 177	$ 88
Credit exposure	8	3
Exposure, net of collateral	$ 2	$ 1
A-
Credit Derivatives
Number of counter-parties (in Party) \| party	2	1
Notional amount	$ 41	$ 8
Credit exposure	2	0
Exposure, net of collateral	$ 0	$ 0
BBB+
Credit Derivatives
Number of counter-parties (in Party) \| party	0	1
Notional amount	$ 0	$ 11
Credit exposure	0	0
Exposure, net of collateral	$ 0	$ 0
BBB
Credit Derivatives
Number of counter-parties (in Party) \| party	0	1
Notional amount	$ 0	$ 52
Credit exposure	0	0
Exposure, net of collateral	$ 0	$ 0

Derivative Financial Instruments (Credit Derivatives-Selling Protection) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($) entity	Dec. 31, 2014 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Term of credit default swaps (in years)	5 years
Credit Derivatives
Notional amount	$ 3,287	$ 3,649
The number of reference entities generally included in a CDX index \| entity	125
Credit default contracts
Credit Derivatives
Notional amount	$ 180	180
Fair value	(8)	(7)
Credit default contracts \| First-to-default Basket \| Municipal
Credit Derivatives
Notional amount	100	100
Fair value	(9)	(9)
Credit default contracts \| Index \| Corporate debt
Credit Derivatives
Notional amount	80	80
Fair value	1	2
AA \| Credit default contracts
Credit Derivatives
Notional amount	1	0
AA \| Credit default contracts \| First-to-default Basket \| Municipal
Credit Derivatives
Notional amount	0	0
AA \| Credit default contracts \| Index \| Corporate debt
Credit Derivatives
Notional amount	1	0
A \| Credit default contracts
Credit Derivatives
Notional amount	120	122
A \| Credit default contracts \| First-to-default Basket \| Municipal
Credit Derivatives
Notional amount	100	100
A \| Credit default contracts \| Index \| Corporate debt
Credit Derivatives
Notional amount	20	22
BBB \| Credit default contracts
Credit Derivatives
Notional amount	53	52
BBB \| Credit default contracts \| First-to-default Basket \| Municipal
Credit Derivatives
Notional amount	0	0
BBB \| Credit default contracts \| Index \| Corporate debt
Credit Derivatives
Notional amount	53	52
BB and lower \| Credit default contracts
Credit Derivatives
Notional amount	6	6
BB and lower \| Credit default contracts \| First-to-default Basket \| Municipal
Credit Derivatives
Notional amount	0	0
BB and lower \| Credit default contracts \| Index \| Corporate debt
Credit Derivatives
Notional amount	$ 6	$ 6

Reinsurance (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Reinsurance (Details) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Effects of reinsurance on revenue
Direct	$ 180	$ 185	$ 546	$ 893
Premiums and contract charges, net of reinsurance	330	334	1,005	1,093
Effects of reinsurance on cost and expenses
Direct	228	277	749	1,023
Contract benefits, net of reinsurance	353	356	1,057	1,101
Effects of reinsurance on interest credited to contractholder funds [Abstract]
Direct	170	167	486	656
Interest credited to contractholder funds, net of reinsurance	181	191	546	696
Affiliate
Effects of reinsurance on revenue
Assumed	33	32	98	97
Affiliate	(13)	0	(27)	0
Effects of reinsurance on cost and expenses
Assumed	20	20	59	66
Ceded	(12)	0	(23)	0
Effects of reinsurance on interest credited to contractholder funds [Abstract]
Assumed	2	2	7	6
Affiliate	(5)	0	(10)	0
Non-affiliate
Effects of reinsurance on revenue
Assumed	208	199	627	410
Affiliate	(78)	(82)	(239)	(307)
Effects of reinsurance on cost and expenses
Assumed	141	135	411	277
Ceded	(24)	(76)	(139)	(265)
Effects of reinsurance on interest credited to contractholder funds [Abstract]
Assumed	20	27	81	54
Affiliate	$ (6)	$ (5)	$ (18)	$ (20)

Guarantees and Contingent Liabilities (Details)	Sep. 30, 2015 USD ($)
Obligations of insolvent insurance companies
Guarantees and Contingent Liabilities
Maximum amount at risk pursuant to a guarantee	$ 4,000,000

Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Pre- tax
Unrealized net holding gains and losses arising during the period, net of related offsets	$ (286)	$ 58	$ (726)	$ 525
Less: reclassification adjustment of realized capital gains and losses	178	21	346	(7)
Unrealized net capital gains and losses	(464)	37	(1,072)	532
Unrealized foreign currency translation adjustments	5	0	(6)	2
Other comprehensive (loss) income	(459)	37	(1,078)	534
Tax
Unrealized net holding gains and losses arising during the period, net of related offsets	224	(20)	496	(185)
Less: reclassification adjustment of realized capital gains and losses	62	(7)	121	2
Unrealized net capital gains and losses	162	(13)	375	(187)
Unrealized foreign currency translation adjustments	(2)	0	2	(1)
Other comprehensive (loss) income	160	(13)	377	(188)
After- tax
Unrealized net holding gains and losses arising during the period, net of related offsets	(62)	38	(230)	340
Less: reclassification adjustment of realized capital gains and losses	240	14	467	(5)
Unrealized net capital gains and losses	(302)	24	(697)	345
Unrealized foreign currency translation adjustments	3	0	(4)	1
Other comprehensive (loss) income, after-tax	$ (299)	$ 24	$ (701)	$ 346

Derivative Financial Instruments (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss)
Cash flow hedge gain to be reclassified from AOCI during the next twelve months	$ 3		$ 3
Hedge ineffectiveness in realized gains	0	$ 0	0	$ 0
Gain recognized in OCI on derivatives during the period	4	10	11	6
Gain (loss) recognized in OCI on derivatives during the term of the hedging relationship	11	(4)	11	(4)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	7	17	23	33
Realized capital gains and losses
Derivative Instruments, Gain (Loss)
(Loss) gain reclassified from AOCI into income	0	0	3	(2)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	15	4	18	9
Contract benefits
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	(8)	4	(8)	8
Interest credited to contractholder funds
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	9	13	20
Loss on disposition of operations
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	0	0	(4)
Net investment income
Derivative Instruments, Gain (Loss)
(Loss) gain reclassified from AOCI into income	0	(1)	(1)	(1)
Interest rate contracts
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	(1)			(6)
Interest rate contracts \| Realized capital gains and losses
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	(1)			(2)
Interest rate contracts \| Contract benefits
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0			0
Interest rate contracts \| Interest credited to contractholder funds
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0			0
Interest rate contracts \| Loss on disposition of operations
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0			(4)
Equity and index contracts
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	(16)	4	(13)	25
Equity and index contracts \| Realized capital gains and losses
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	11	0	10	0
Equity and index contracts \| Contract benefits
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	0	0	0
Equity and index contracts \| Interest credited to contractholder funds
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	(27)	4	(23)	25
Equity and index contracts \| Loss on disposition of operations
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	0	0	0
Embedded derivative financial instruments
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	20	10	28	3
Embedded derivative financial instruments \| Realized capital gains and losses
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	0	0	0
Embedded derivative financial instruments \| Contract benefits
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	(8)	4	(8)	8
Embedded derivative financial instruments \| Interest credited to contractholder funds
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	28	6	36	(5)
Embedded derivative financial instruments \| Loss on disposition of operations
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	0	0	0
Foreign currency contracts
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	3	4	5	4
Foreign currency contracts \| Realized capital gains and losses
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	3	4	5	4
Foreign currency contracts \| Contract benefits
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	0	0	0
Foreign currency contracts \| Interest credited to contractholder funds
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	0	0	0
Foreign currency contracts \| Loss on disposition of operations
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	0	0	0
Credit default contracts
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	2		3	7
Credit default contracts \| Realized capital gains and losses
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	2		3	7
Credit default contracts \| Contract benefits
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0		0	0
Credit default contracts \| Interest credited to contractholder funds
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0		0	0
Credit default contracts \| Loss on disposition of operations
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0		$ 0	$ 0
Other contracts
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	(1)	(1)
Other contracts \| Realized capital gains and losses
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	0
Other contracts \| Contract benefits
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	0	0
Other contracts \| Interest credited to contractholder funds
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	(1)	(1)
Other contracts \| Loss on disposition of operations
Derivative Instruments, Gain (Loss)
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	$ 0	$ 0