Deferred Policy Acquisition Costs

3 Months Ended

Mar. 31, 2014

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs

Deferred Policy Acquisition Costs

A progression of deferred policy acquisition costs is presented below (in millions):

	P&C			Annuity and Run-off Long-term Care and Life
	Deferred			Deferred			Sales												Consolidated
	Costs			Costs			Inducements			PVFP			Unrealized			Total			Total
Balance at December 31, 2013	$	211		$	875		$	149		$	85		$	(345	)	$	764		$	975
Additions	124			50			4			—			—			54			178
Periodic amortization	(121		)	(27		)	(7		)	(3		)	—			(37		)	(158		)
Change in unrealized	—			—			—			—			(105		)	(105		)	(105		)
Balance at March 31, 2014	$	214		$	898		$	146		$	82		$	(450	)	$	676		$	890
Balance at December 31, 2012	$	204		$	787		$	170		$	99		$	(710	)	$	346		$	550
Additions	119			34			2			—			—			36			155
Amortization:
Periodic amortization	(120		)	(27		)	(7		)	(4		)	—			(38		)	(158		)
Included in realized gains	—			(1		)	—			—			—			(1		)	(1		)
Change in unrealized	—			—			—			—			19			19			19
Balance at March 31, 2013	$	203		$	793		$	165		$	95		$	(691	)	$	362		$	565

The present value of future profits (“PVFP”) amounts in the table above are net of $201 million and $198 million of accumulated amortization at March 31, 2014 and December 31, 2013, respectively.