INVESTMENT CONTRACTS, INSURANCE LIABILITIES AND INSURANCE ANNUITY BENEFITS

6 Months Ended

Jun. 30, 2017

Insurance [Abstract]

INVESTMENT CONTRACTS, INSURANCE LIABILITIES AND INSURANCE ANNUITY BENEFITS

INVESTMENT CONTRACTS, INSURANCE LIABILITIES AND INSURANCE ANNUITY BENEFITS

Insurance and investment contract liabilities comprise mainly obligations to policyholders and annuitants in our run-off insurance activities.

(In millions)	June 30, 2017		December 31, 2016
Future policy benefit reserves(a)	$	19,105	$	18,741
Investment contracts	2,671		2,813
Other(b)	5,241		4,992
	27,016		26,546
Eliminations	(545)		(460)
Total	$	26,471	$	26,086

(a) The future policy benefit reserve is subject to an annual review to determine its adequacy. Should the liability for future policy benefits plus the present value of expected future gross premiums be insufficient to provide for the present value of expected future policy benefits and expenses, a premium deficiency would be recorded.

(b) Substantially all unpaid claims and claims adjustment expenses and unearned premiums.

See Notes 1 and 11 of the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2016 for further information.