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Investments and Derivative Instruments Level 3 (Tables)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Investments [Abstract]    
Investment Income [Table Text Block]
 
For the years ended December 31,
(Before-tax)
2015
2014
2013
Fixed maturities [1]
$
1,095

$
1,113

$
1,253

Equity securities
7

14

8

Mortgage loans
152

156

172

Policy loans
82

80

82

Limited partnerships and other alternative investments
97

141

119

Other investments [2]
82

111

125

Investment expenses
(59
)
(72
)
(76
)
Total net investment income
$
1,456

$
1,543

$
1,683

[1]
Includes net investment income on short-term investments.
[2]
Includes income from derivatives that hedge fixed maturities and qualify for hedge accounting.
  
Realized Gain (Loss) on Investments [Table Text Block]
 
For the years ended December 31,
(Before-tax)
2015
2014
2013
Gross gains on sales [1]
$
239

$
264

$
2,196

Gross losses on sales
(211
)
(235
)
(700
)
Net OTTI losses recognized in earnings
(61
)
(29
)
(45
)
Valuation allowances on mortgage loans
(4
)
(4
)
(1
)
Japanese fixed annuity contract hedges, net [2]
—

(14
)
6

Periodic net coupon settlements on credit derivatives
6

11

(3
)
Results of variable annuity hedge program
 
 

GMWB derivatives, net
(87
)
5

262

Macro hedge program
(46
)
(11
)
(234
)
Total U.S. program
(133
)
(6
)
28

International Program [3]
—

(126
)
(963
)
Total results of variable annuity hedge program
(133
)
(132
)
(935
)
GMIB/GMAB/GMWB reinsurance
—

579

1,107

Modified coinsurance reinsurance contracts
46

395

(1,405
)
Other, net [4]
(28
)
(258
)
106

Net realized capital gains (losses), before-tax
$
(146
)
$
577

$
326

[1]
Includes $1.5 billion of gross gains relating to the sales of the Retirement Plans and Individual Life businesses in the year ended December 31, 2013.
[2]
For the years ended December 31, 2014 and 2013, includes the transactional foreign currency re-valuation gains (losses) of $(51) and $324, respectively, related to the Japan fixed annuity product, as well as the change in value related to the derivative hedging instruments and the Japan government FVO securities of $37, and $(318), respectively.
[3]
Includes $(2) and $(55) of transactional foreign currency re-valuation losses for the years ended December 31, 2014 and 2013, respectively.
[4]
Other, net gains and losses include transactional foreign currency revaluation gains (losses) on the yen denominated fixed payout annuity liabilities and gains (losses) on non-qualifying derivatives used to hedge the foreign currency exposure of the liabilities. Gains (losses) from transactional foreign currency revaluation of the reinsured liabilities were $4, $116, and $250, respectively, for the years ended December 31, 2015, 2014 and 2013. Gains (losses) on the instruments used to hedge the foreign currency exposure on the reinsured fixed payout annuities were $(21), $(148), and $(268), respectively, for the years ended December 31, 2015, 2014 and 2013. Includes $71 of gains relating to the sales of the Retirement Plans and Individual Life businesses for the year ended December 31, 2013 as well as changes in value of non-qualifying derivatives. Also includes for the year ended December 31, 2014 a loss of $(213) related to the recapture of the GMIB/GMAB/GMWB reinsurance contracts, which is offset by gains on the termination of the embedded derivative reflected in the GMIB/GMAB/GMWB reinsurance line.
  
Available-for-sale Securities [Table Text Block]
 
For the years ended December 31,
 
2015
2014
2013
Fixed maturities, AFS
 
 
 
Sale proceeds
$
9,454

$
9,084

$
19,190

Gross gains [1]
195

210

1,867

Gross losses
(161
)
(183
)
(421
)
Equity securities, AFS
 


Sale proceeds
$
586

$
107

$
81

Gross gains
26

9

254

Gross losses
(26
)
(6
)
(263
)
  
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block]
 
For the years ended December 31,
 
2015
2014
2013
Intent-to-sell impairments
$
24

$
11

$
18

Credit impairments
23

16

18

Impairments on equity securities
14

1

9

Other impairments
—

1

—

Total impairments
$
61

$
29

$
45

The following table presents a roll-forward of the Company’s cumulative credit impairments on fixed maturities held.
 
For the years ended December 31,
(Before-tax)
2015
2014
2013
Balance, beginning of period
$
(296
)
$
(410
)
$
(813
)
Additions for credit impairments recognized on [1]:
 
 
 
Securities not previously impaired
(11
)
(7
)
(14
)
Securities previously impaired
(12
)
(9
)
(4
)
Reductions for credit impairments previously recognized on:
 
 
 
Securities that matured or were sold during the period
58

111

403

Securities the Company made the decision to sell or more likely than not will be required to sell
1

—

1

Securities due to an increase in expected cash flows
49

19

$
17

Balance as of end of period
$
(211
)
$
(296
)
$
(410
)
[1]
These additions are included in the net OTTI losses recognized in earnings in the Consolidated Statements of Operations.
  
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
The following table presents the Company’s AFS securities by type.
 
December 31, 2015
 
December 31, 2014
 
Cost or Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Non-Credit OTTI [1]
 
Cost or Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Non-Credit OTTI [1]
ABS
$
864

 
$
16

 
$
(34
)
 
$
846

 
$
—

 
$
1,181

 
$
20

 
$
(30
)
 
$
1,171

 
$
—

CDOs [2]
1,354

 
67

 
(11
)
 
1,408

 
—

 
1,083

 
84

 
(20
)
 
1,148

 
—

CMBS
1,936

 
52

 
(24
)
 
1,964

 
(3
)
 
1,797

 
97

 
(7
)
 
1,887

 
(3
)
Corporate
14,425

 
975

 
(225
)
 
15,175

 
(3
)
 
14,166

 
1,685

 
(109
)
 
15,742

 
(3
)
Foreign govt./govt. agencies
328

 
14

 
(11
)
 
331

 
—

 
576

 
35

 
(9
)
 
602

 
—

Municipal
1,057

 
80

 
(5
)
 
1,132

 
—

 
935

 
118

 
(1
)
 
1,052

 
—

RMBS
1,468

 
43

 
(8
)
 
1,503

 
—

 
1,805

 
64

 
(12
)
 
1,857

 
—

U.S. Treasuries
2,127

 
184

 
(13
)
 
2,298

 
—

 
1,717

 
261

 
(1
)
 
1,977

 
—

Total fixed maturities, AFS
23,559

 
1,431

 
(331
)
 
24,657

 
(6
)
 
23,260

 
2,364

 
(189
)
 
25,436

 
(6
)
Equity securities, AFS [3]
178

 
11

 
(11
)
 
178

 
—

 
275

 
10

 
(19
)
 
266

 
—

Total AFS securities
$
23,737

 
$
1,442

 
$
(342
)
 
$
24,835

 
$
(6
)
 
$
23,535

 
$
2,374

 
$
(208
)
 
$
25,702

 
$
(6
)
[1]
Represents the amount of cumulative non-credit OTTI losses recognized in OCI on securities that also had credit impairments. These losses are included in gross unrealized losses as of December 31, 2015 and 2014.
[2]
Gross unrealized gains (losses) exclude the fair value of bifurcated embedded derivatives within certain securities. Subsequent changes in value are recorded in net realized capital gains (losses).
[3]
Excludes equity securities, FVO, with a cost and fair value of $293 and $281, respectively, as of December 31, 2015, and $250 and $248 as of December 31, 2014.
 
Investments Classified by Contractual Maturity Date [Table Text Block]
The following table presents the Company’s fixed maturities, AFS, by contractual maturity year.
  
December 31, 2015
December 31, 2014
Contractual Maturity
Amortized Cost
 
Fair Value
Amortized Cost
 
Fair Value
One year or less
$
953

 
$
974

$
1,031

 
$
1,043

Over one year through five years
4,973

 
5,075

4,902

 
5,168

Over five years through ten years
3,650

 
3,714

3,345

 
3,501

Over ten years
8,361

 
9,173

8,116

 
9,661

Subtotal
17,937

 
18,936

17,394

 
19,373

Mortgage-backed and asset-backed securities
5,622

 
5,721

5,866

 
6,063

Total fixed maturities, AFS
$
23,559

 
$
24,657

$
23,260

 
$
25,436

  
Schedule of Unrealized Loss on Investments [Table Text Block]
The following tables present the Company’s unrealized loss aging for AFS securities by type and length of time the security was in a continuous unrealized loss position.
 
December 31, 2015
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Amortized Cost
 
Fair Value
 
Unrealized Losses
 
Amortized Cost
 
Fair Value
 
Unrealized Losses
 
Amortized Cost
 
Fair Value
 
Unrealized Losses
ABS
$
387

 
$
385

 
$
(2
)
 
$
271

 
$
239

 
$
(32
)
 
$
658

 
$
624

 
$
(34
)
CDOs [1]
608

 
602

 
(6
)
 
500

 
493

 
(5
)
 
1,108

 
1,095

 
(11
)
CMBS
655

 
636

 
(19
)
 
99

 
94

 
(5
)
 
754

 
730

 
(24
)
Corporate
4,880

 
4,696

 
(184
)
 
363

 
322

 
(41
)
 
5,243

 
5,018

 
(225
)
Foreign govt./govt. agencies
144

 
136

 
(8
)
 
30

 
27

 
(3
)
 
174

 
163

 
(11
)
Municipal
179

 
174

 
(5
)
 
—

 
—

 
—

 
179

 
174

 
(5
)
RMBS
280

 
279

 
(1
)
 
230

 
223

 
(7
)
 
510

 
502

 
(8
)
U.S. Treasuries
963

 
950

 
(13
)
 
8

 
8

 
—

 
971

 
958

 
(13
)
Total fixed maturities, AFS
8,096

 
7,858

 
(238
)
 
1,501

 
1,406

 
(93
)
 
9,597

 
9,264

 
(331
)
Equity securities, AFS [2]
83

 
79

 
(4
)
 
44

 
37

 
(7
)
 
127

 
116

 
(11
)
Total securities in an unrealized loss position
$
8,179

 
$
7,937

 
$
(242
)
 
$
1,545

 
$
1,443

 
$
(100
)
 
$
9,724

 
$
9,380

 
$
(342
)
 
December 31, 2014
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Amortized Cost
 
Fair Value
 
Unrealized Losses
 
Amortized Cost
 
Fair Value
 
Unrealized Losses
 
Amortized Cost
 
Fair Value
 
Unrealized Losses
ABS
$
368

 
$
367

 
$
(1
)
 
$
340

 
$
311

 
$
(29
)
 
$
708

 
$
678

 
$
(30
)
CDOs [1]
123

 
122

 
(1
)
 
771

 
753

 
(19
)
 
894

 
875

 
(20
)
CMBS
109

 
108

 
(1
)
 
194

 
188

 
(6
)
 
303

 
296

 
(7
)
Corporate
1,542

 
1,491

 
(51
)
 
661

 
603

 
(58
)
 
2,203

 
2,094

 
(109
)
Foreign govt./govt. agencies
145

 
140

 
(5
)
 
68

 
64

 
(4
)
 
213

 
204

 
(9
)
Municipal
14

 
14

 
—

 
13

 
12

 
(1
)
 
27

 
26

 
(1
)
RMBS
148

 
147

 
(1
)
 
229

 
218

 
(11
)
 
377

 
365

 
(12
)
U.S. Treasuries
184

 
184

 
—

 
18

 
17

 
(1
)
 
202

 
201

 
(1
)
Total fixed maturities, AFS
2,633

 
2,573

 
(60
)
 
2,294

 
2,166

 
(129
)
 
4,927

 
4,739

 
(189
)
Equity securities, AFS [2]
81

 
75

 
(6
)
 
92

 
79

 
(13
)
 
173

 
154

 
(19
)
Total securities in an unrealized loss position
$
2,714

 
$
2,648

 
$
(66
)
 
$
2,386

 
$
2,245

 
$
(142
)
 
$
5,100

 
$
4,893

 
$
(208
)
[1]
Unrealized losses exclude the change in fair value of bifurcated embedded derivatives within certain securities for which changes in fair value are recorded in net realized capital gains (losses).
  
Mortgage Loans [Table Text Block]
 
December 31, 2015
 
December 31, 2014
 
Amortized Cost [1]
 
Valuation Allowance
 
Carrying Value
 
Amortized Cost [1]
 
Valuation Allowance
 
Carrying Value
Total commercial mortgage loans
$
2,937

 
$
(19
)
 
$
2,918

 
$
3,124

 
$
(15
)
 
$
3,109

[1]
Amortized cost represents carrying value prior to valuation allowances, if any.
  
Valuation Allowance for Mortgage Loans [Table Text Block]
The following table presents the activity within the Company’s valuation allowance for mortgage loans. These loans have been evaluated both individually and collectively for impairment. Loans evaluated collectively for impairment are immaterial.
 
For the years ended December 31,
 
2015
 
2014
 
2013
Balance as of January 1
$
(15
)
 
$
(12
)
 
$
(14
)
(Additions)/Reversals
(4
)
 
(4
)
 
(2
)
Deductions
—

 
1

 
4

Balance as of December 31
$
(19
)
 
$
(15
)
 
$
(12
)
  
Commercial Mortgage Loans Credit Quality [Table Text Block]
The following tables present the carrying value of the Company’s mortgage loans by region and property type.
Mortgage Loans by Region
 
December 31, 2015
 
December 31, 2014
 
Carrying Value
 
Percent of Total
 
Carrying Value
 
Percent of Total
East North Central
$
66

 
2.3%
 
$
64

 
2.1%
East South Central
14

 
0.5%
 
—

 
—%
Middle Atlantic
210

 
7.2%
 
272

 
8.7%
Mountain
4

 
0.1%
 
35

 
1.1%
New England
163

 
5.6%
 
146

 
4.7%
Pacific
933

 
32.0%
 
905

 
29.1%
South Atlantic
579

 
19.8%
 
532

 
17.1%
West North Central
1

 
—%
 
15

 
0.5%
West South Central
125

 
4.3%
 
125

 
4.0%
Other [1]
823

 
28.2%
 
1,015

 
32.7%
Total mortgage loans
$
2,918

 
100%
 
$
3,109

 
100%
[1]
Primarily represents loans collateralized by multiple properties in various regions.
Mortgage Loans by Property Type
 
December 31, 2015
 
December 31, 2014
 
Carrying Value
 
Percent of Total
 
Carrying Value
 
Percent of Total
Commercial
 
 
 
 
 
 
 
Agricultural
$
16

 
0.5
%
 
$
22

 
0.7
%
Industrial
829

 
28.4
%
 
989

 
31.8
%
Lodging
26

 
0.9
%
 
26

 
0.8
%
Multifamily
557

 
19.1
%
 
522

 
16.8
%
Office
729

 
25.0
%
 
723

 
23.3
%
Retail
650

 
22.3
%
 
713

 
22.9
%
Other
111

 
3.8
%
 
114

 
3.7
%
Total mortgage loans
$
2,918

 
100
%
 
$
3,109

 
100
%
The following table presents the carrying value of the Company’s commercial mortgage loans by LTV and DSCR.
Commercial Mortgage Loans Credit Quality
 
December 31, 2015
 
December 31, 2014
Loan-to-value
Carrying Value
 
Avg. Debt-Service Coverage Ratio
 
Carrying Value
 
Avg. Debt-Service Coverage Ratio
Greater than 80%
$
15

 
0.91x
 
$
21

 
1.14x
65% - 80%
280

 
1.78x
 
452

 
1.71x
Less than 65%
2,623

 
2.54x
 
2,636

 
2.49x
Total commercial mortgage loans
$
2,918

 
2.45x
 
$
3,109

 
2.36x
  
Schedule of Variable Interest Entities [Table Text Block]
 
December 31, 2015
 
December 31, 2014
 
Total Assets
 
Total Liabilities  [1]
 
Maximum Exposure to Loss [2]
 
Total Assets
 
Total Liabilities  [1]
 
Maximum Exposure to Loss [2]
Investment funds [3]
$
52

 
$
11

 
$
42

 
$
154

 
$
20

 
$
138

Limited partnerships and other alternative investments
2

 
1

 
1

 
3

 
2

 
1

Total
$
54

 
$
12

 
$
43

 
$
157

 
$
22

 
$
139

[1]
Included in other liabilities in the Company’s Consolidated Balance Sheets.
[2]
The maximum exposure to loss represents the maximum loss amount that the Company could recognize as a reduction in net investment income or as a realized capital loss and is the cost basis of the Company’s investment.
[3]
Total assets included in fixed maturities, FVO, short-term investments, and equity, AFS in the Company's Consolidated Balance Sheets.
  
Derivative Instruments [Abstract]    
Notional and Fair Value for GMWB Hedging Instruments [Table Text Block]
The Company utilizes equity options, swaps, futures, and foreign currency options to partially hedge against a decline in the equity markets and the resulting statutory surplus and capital impact primarily arising from the guaranteed minimum death benefit ("GMDB") and GMWB obligations. The following table presents notional and fair value for the macro hedge program.
 
Notional Amount
 
Fair Value
 
December 31, 2015
 
December 31, 2014
 
December 31, 2015
 
December 31, 2014
Equity options and swaps
$
4,548

 
$
5,983

 
$
147

 
$
141

Foreign currency options
—

 
400

 
—

 
—

Total
$
4,548

 
$
6,383

 
$
147

 
$
141

 
Notional Amount
 
Fair Value
 
December 31, 2015
 
December 31, 2014
 
December 31, 2015
 
December 31, 2014
Customized swaps
$
5,877

 
$
7,041

 
$
131

 
$
124

Equity swaps, options, and futures
1,362

 
3,761

 
2

 
39

Interest rate swaps and futures
3,740

 
3,640

 
25

 
11

Total
$
10,979

 
$
14,442

 
$
158

 
$
174

  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
 
Net Derivatives
 
Asset Derivatives
 
Liability Derivatives
 
Notional Amount
 
Fair Value
 
Fair Value
 
Fair Value
Hedge Designation/ Derivative Type
Dec 31, 2015
 
Dec 31, 2014
 
Dec 31, 2015
 
Dec 31, 2014
 
Dec 31, 2015
 
Dec 31, 2014
 
Dec 31, 2015
 
Dec 31, 2014
Cash flow hedges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
1,766

 
$
2,242

 
$
38

 
$
37

 
$
38

 
$
37

 
$
—

 
$
—

Foreign currency swaps
143

 
143

 
(19
)
 
(19
)
 
7

 
3

 
(26
)
 
(22
)
Total cash flow hedges
1,909

 
2,385

 
19

 
18

 
45

 
40

 
(26
)
 
(22
)
Fair value hedges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
23

 
32

 
—

 
—

 
—

 
—

 
—

 
—

Total fair value hedges
23

 
32

 
—

 
—

 
—

 
—

 
—

 
—

Non-qualifying strategies
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps and futures
4,710

 
4,857

 
(415
)
 
(323
)
 
285

 
385

 
(700
)
 
(708
)
Foreign exchange contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency swaps and forwards
386

 
60

 
4

 
—

 
4

 
—

 
—

 
—

Fixed payout annuity hedge
1,063

 
1,319

 
(357
)
 
(427
)
 
—

 
—

 
(357
)
 
(427
)
Credit contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit derivatives that purchase credit protection
249

 
276

 
10

 
(1
)
 
12

 
4

 
(2
)
 
(5
)
Credit derivatives that assume credit risk [1]
1,435

 
946

 
(10
)
 
7

 
5

 
11

 
(15
)
 
(4
)
Credit derivatives in offsetting positions
1,435

 
2,175

 
(1
)
 
(1
)
 
17

 
21

 
(18
)
 
(22
)
Equity contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity index swaps and options
404

 
422

 
15

 
1

 
41

 
30

 
(26
)
 
(29
)
Variable annuity hedge program
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GMWB product derivatives [2]
15,099

 
17,908

 
(262
)
 
(139
)
 
—

 
—

 
(262
)
 
(139
)
GMWB reinsurance contracts
3,106

 
3,659

 
83

 
56

 
83

 
56

 
—

 
—

GMWB hedging instruments
10,979

 
14,442

 
158

 
174

 
264

 
289

 
(106
)
 
(115
)
Macro hedge program
4,548

 
6,383

 
147

 
141

 
179

 
180

 
(32
)
 
(39
)
Other
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Modified coinsurance reinsurance contracts
895

 
974

 
79

 
34

 
79

 
34

 
—

 
—

Total non-qualifying strategies
44,309

 
53,421

 
(549
)
 
(478
)
 
969

 
1,010

 
(1,518
)
 
(1,488
)
Total cash flow hedges, fair value hedges, and non-qualifying strategies
$
46,241

 
$
55,838

 
$
(530
)
 
$
(460
)
 
$
1,014

 
$
1,050

 
$
(1,544
)
 
$
(1,510
)
Balance Sheet Location
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed maturities, available-for-sale
$
184

 
$
186

 
$
(1
)
 
$
1

 
$
—

 
$
1

 
$
(1
)
 
$
—

Other investments
11,837

 
13,588

 
250

 
339

 
360

 
478

 
(110
)
 
(139
)
Other liabilities
15,071

 
19,473

 
(653
)
 
(725
)
 
492

 
481

 
(1,145
)
 
(1,206
)
Reinsurance recoverables
4,000

 
4,633

 
162

 
90

 
162

 
90

 
—

 
—

Other policyholder funds and benefits payable
15,149

 
17,958

 
(288
)
 
(165
)
 
—

 
—

 
(288
)
 
(165
)
Total derivatives
$
46,241

 
$
55,838

 
$
(530
)
 
$
(460
)
 
$
1,014

 
$
1,050

 
$
(1,544
)
 
$
(1,510
)
[1]
The derivative instruments related to this strategy are held for other investment purposes.
[2]
These derivatives are embedded within liabilities and are not held for risk management purposes.

  
Offsetting Assets [Table Text Block]
 
(i)
 
(ii)
 
(iii) = (i) - (ii)
(iv)
 
(v) = (iii) - (iv)
 
 
 
 
 
Net Amounts Presented in the Statement of Financial Position
 
Collateral Disallowed for Offset in the Statement of Financial Position
 
 
 
Gross Amounts of Recognized Assets
 
Gross Amounts Offset in the Statement of Financial Position
 
Derivative Assets [1]
 
Accrued Interest and Cash Collateral Received [2]
 
Financial Collateral Received [4]
 
Net Amount
Description
 
 
 
 
 
 
 
 
 
 
 
Other investments
$
852

 
$
692

 
$
250

 
$
(90
)
 
$
99

 
$
61
 
(i)
 
(ii)
 
(iii) = (i) - (ii)
(iv)
 
(v) = (iii) - (iv)
 
 
 
 
 
Net Amounts Presented in the Statement of Financial Position
 
Collateral Disallowed for Offset in the Statement of Financial Position
 
 
 
Gross Amounts of Recognized Assets
 
Gross Amounts Offset in the Statement of Financial Position
 
Derivative Assets [1]
 
Accrued Interest and Cash Collateral Received [2]
 
Financial Collateral Received [4]
 
Net Amount
Description
 
 
 
 
 
 
 
 
 
 
 
Other investments
$
959

 
$
801

 
$
339

 
$
(181
)
 
$
83

 
$
75
Offsetting Liabilities [Table Text Block]
 
Gross Amounts of Recognized Liabilities
 
Gross Amounts Offset in the Statement of Financial Position
 
Derivative Liabilities [3]
 
Accrued Interest and Cash Collateral Pledged [3]
 
Financial Collateral Pledged [4]
 
Net Amount
Description
 
 
 
 
 
 
 
 
 
 
 
Other liabilities
$
(1,255
)
 
$
(499
)
 
$
(653
)
 
$
(103
)
 
$
(753
)
 
$
(3
)
 
Gross Amounts of Recognized Liabilities
 
Gross Amounts Offset in the Statement of Financial Position
 
Derivative Liabilities [3]
 
Accrued Interest and Cash Collateral Pledged [3]
 
Financial Collateral Pledged [4]
 
Net Amount
Description
 
 
 
 
 
 
 
 
 
 
 
Other liabilities
$
(1,345
)
 
$
(574
)
 
$
(722
)
 
$
(49
)
 
$
(900
)
 
$
129
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
Derivatives in Cash Flow Hedging Relationships
 
Gain (Loss) Recognized in OCI on Derivative (Effective  Portion)
 
Net Realized Capital Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Interest rate swaps
$
3

 
$
34

 
$
(158
)
 
$
—

 
$
2

 
$
(2
)
Foreign currency swaps
—

 
(10
)
 
12

 
—

 
—

 
—

Total
$
3

 
$
24

 
$
(146
)
 
$
—

 
$
2

 
$
(2
)
Derivatives in Cash Flow Hedging Relationships
 
 
Gain (Loss) Reclassified from AOCI into Income (Effective  Portion)
 
 
2015
 
2014
 
2013
Interest rate swaps
Net realized capital gains (losses)
$
(1
)
 
$
(1
)
 
$
70

Interest rate swaps
Net investment income (loss)
33

 
50

 
57

Foreign currency swaps
Net realized capital gains (losses)
(9
)
 
(13
)
 
4

Total
 
$
23

 
$
36

 
$
131

  
Derivatives in Fair Value Hedging Relationships [Table Text Block]
The Company recognized in income gains (losses) representing the ineffective portion of fair value hedges as follows:  
Derivatives in Fair Value Hedging Relationships
 
Gain (Loss) Recognized in Income [1]
 
2015
 
2014
 
2013
 
Derivative
 
Hedged Item
 
Derivative
 
Hedged Item
 
Derivative
 
Hedged Item
Interest rate swaps
 
 
 
 
 
 
 
 
 
 
 
Net realized capital gains (losses)
$
—

 
$
—

 
$
(2
)
 
$
4

 
$
27

 
$
(24
)
Foreign currency swaps
 
 
 
 
 
 
 
 
 
 
 
Net realized capital gains (losses)
—

 
—

 
—

 
—

 
1

 
(1
)
Benefits, losses and loss adjustment expenses
—

 
—

 
—

 
—

 
(2
)
 
2

Total
$
—

 
$
—

 
$
(2
)
 
$
4

 
$
26

 
$
(23
)
[1]
The amounts presented do not include the periodic net coupon settlements of the derivative or the coupon income (expense) related to the hedged item. The net of the amounts presented represents the ineffective portion of the hedge.
  
Disclosure of Credit Derivatives [Table Text Block]
he following tables present the notional amount, fair value, weighted average years to maturity, underlying referenced credit obligation type and average credit ratings, and offsetting notional amounts and fair value for credit derivatives in which the Company is assuming credit risk as of December 31, 2015 and 2014.
As of December 31, 2015
 
 
 
 
 
 
 
 
Underlying Referenced
Credit Obligation(s) [1]
 
 
 
 
Credit Derivative type by derivative risk exposure
 
Notional
Amount [2]
 
Fair
Value
 
Weighted
Average
Years to
Maturity
 
Type
 
Average
Credit
Rating
 
Offsetting
Notional
Amount [3]
 
Offsetting
Fair Value [3]
Single name credit default swaps
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade risk exposure
 
$
118

 
$
—

 
1 year
 
Corporate Credit/ Foreign Gov.
 
BBB+
 
$
115

 
$
(1
)
Below investment grade risk exposure
 
43

 
(2
)
 
2 years
 
Corporate Credit
 
CCC+
 
43

 
1

Basket credit default swaps [4]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade risk exposure
 
1,265

 
7

 
4 years
 
Corporate Credit
 
BBB+
 
345

 
(2
)
Below investment grade risk exposure
 
—

 
—

 

 
Corporate Credit
 

 
—

 
—

Investment grade risk exposure
 
503

 
(14
)
 
6 years
 
CMBS Credit
 
AAA-
 
141

 
1

Below investment grade risk exposure
 
74

 
(13
)
 
1 year
 
CMBS Credit
 
CCC
 
74

 
13

Embedded credit derivatives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade risk exposure
 
150

 
148

 
1 year
 
Corporate Credit
 
A+
 
—

 
—

Total [5]
 
$
2,153

 
$
126

 
 
 
 
 
 
 
$
718

 
$
12

As of December 31, 2014
 
 
 
 
 
 
 
 
Underlying Referenced
Credit Obligation(s) [1]
 
 
 
 
Credit Derivative type by derivative risk exposure
 
Notional
Amount
[2]
 
Fair
Value
 
Weighted
Average
Years to
Maturity
 
Type
 
Average
Credit
Rating
 
Offsetting
Notional
Amount
[3]
 
Offsetting
Fair
Value [3]
Single name credit default swaps
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade risk exposure
 
$
212

 
$
3

 
3 years
 
Corporate Credit/ Foreign Gov.
 
A-
 
$
163

 
$
(3
)
Below investment grade risk exposure
 
4

 
—

 
1 year
 
Corporate Credit
 
CCC
 
4

 
—

Basket credit default swaps [4]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade risk exposure
 
1,240

 
14

 
4 years
 
Corporate Credit
 
BBB+
 
667

 
(6
)
Below investment grade risk exposure
 
9

 
(1
)
 
5 years
 
Corporate Credit
 
BBB-
 
—

 
—

Investment grade risk exposure
 
344

 
(4
)
 
5 years
 
CMBS Credit
 
AA
 
179

 
2

Below investment grade risk exposure
 
75

 
(11
)
 
2 years
 
CMBS Credit
 
CCC+
 
75

 
11

Embedded credit derivatives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade risk exposure
 
150

 
147

 
2 years
 
Corporate Credit
 
A
 
—

 
—

Total [5]
 
$
2,034

 
$
148

 
 
 
 
 
 
 
$
1,088

 
$
4


[1]
The average credit ratings are based on availability and the midpoint of the applicable ratings among Moody’s, S&P, Fitch and Morningstar. If no rating is available from a rating agency, then an internally developed rating is used.
[2]
Notional amount is equal to the maximum potential future loss amount. These derivatives are governed by agreements, clearing house rules and applicable law which include collateral posting requirements. There is no additional specific collateral related to these contracts or recourse provisions included in the contracts to offset losses.
[3]
The Company has entered into offsetting credit default swaps to terminate certain existing credit default swaps, thereby offsetting the future changes in value of, or losses paid related to, the original swap.
[4]
Includes $1.8 billion and $1.7 billion as of December 31, 2015 and 2014, respectively, of notional amount on swaps of standard market indices of diversified portfolios of corporate and CMBS issuers referenced through credit default swaps. These swaps are subsequently valued based upon the observable standard market index.
[5]
Excludes investments that contain an embedded credit derivative for which the Company has elected the fair value option. For further discussion, see the Fair Value Option section in Note 2 - Fair Value Measurements.
  
Gain or Loss Recognized with in Net Realized Capital Gains Losses on Non Qualifying Strategies [Table Text Block]
he following table presents the gain or loss recognized in income on non-qualifying strategies:
Non-qualifying Strategies
Gain (Loss) Recognized within Net Realized Capital Gains (Losses)
 
December 31,
 
2015
 
2014
 
2013
Interest rate contracts
 
 
 
 
 
Interest rate swaps, caps, floors, and forwards
$
(7
)
 
$
(6
)
 
$
(5
)
Foreign exchange contracts
 
 
 
 
 
Foreign currency swaps and forwards
5

 
4

 
4

Fixed payout annuity hedge [1]
(21
)
 
(148
)
 
(268
)
Japanese fixed annuity hedging instruments [2]
—

 
22

 
(207
)
Credit contracts
 
 
 
 
 
Credit derivatives that purchase credit protection
3

 
(6
)
 
(20
)
Credit derivatives that assume credit risk
(4
)
 
10

 
46

Equity contracts
 
 
 
 
 
Equity index swaps and options
19

 
7

 
(22
)
Commodity contracts
 
 
 
 
 
Commodity options
(5
)
 
—

 
—

Variable annuity hedge program
 
 
 
 
 
GMWB product derivatives
(59
)
 
(2
)
 
1,306

GMWB reinsurance contracts
17

 
4

 
(192
)
GMWB hedging instruments
(45
)
 
3

 
(852
)
Macro hedge program
(46
)
 
(11
)
 
(234
)
International program hedging instruments
—

 
(126
)
 
(963
)
Other
 
 
 
 
 
GMAB, GMWB, and GMIB reinsurance contracts
—

 
579

 
1,107

Modified coinsurance reinsurance contracts
46

 
395

 
(1,405
)
Derivatives formerly associated with Japan [3]
—

 
(2
)
 
—

Total [4]
$
(97
)
 
$
723

 
$
(1,705
)
[1]
The associated liability is adjusted for changes in spot rates through realized capital gains and was $4, $116 and $250 for the years ended December 31, 2015, 2014 and 2013, respectively, which is not presented in this table.
[2]
The associated liability is adjusted for changes in spot rates through realized capital gains and losses and was $(51) and $324 for the years ended December 31, 2014, and 2013, respectively.
[3]
These amounts relate to the termination of the hedging program associated with the Japan variable annuity product due to the sale of HLIKK.
[4]
Excludes investments that contain an embedded credit derivative for which the Company has elected the fair value option. For further discussion, see the Fair Value Option section in Note 2 - Fair Value Measurements.