XML 74 R60.htm IDEA: XBRL DOCUMENT v3.5.0.2
FAIR VALUE MEASUREMENTS Fair Value Inputs Assets Quantitative Information (Details) - USD ($)
$ / shares in Units, $ in Millions
6 Months Ended 12 Months Ended
Jun. 30, 2016
Dec. 31, 2015
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 83,315 $ 67,794
Asset derivatives 1,963 676
Assets, fair value $ 89,185 $ 72,996
Length of Volatility of Japanese Yen to US Dollar Exchange Rate 10 years 10 years
Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 281 $ 249
Asset derivatives 177 102
Assets, fair value 458 351
Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 80,286 65,349
Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 278 246
Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 1,832 1,947
Perpetual securities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 0 0
Equity securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 1,197 498
Equity securities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 3 3
Equity securities | Net asset value valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 3 3
Equity securities | Net asset value valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 3 $ 3
Equity securities | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Offered Quotes $ 1 $ 1
Equity securities | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Offered Quotes 793 677
Equity securities | Assets | Weighted Average | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Offered Quotes $ 9 $ 7
Mortgage- and asset-backed securities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 1,138 $ 582
Mortgage- and asset-backed securities | Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 252 220
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 252 220
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 252 220
Banks/financial institutions | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 6,226 6,019
Banks/financial institutions | Fixed maturities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 26 26
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 26 26
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 26 26
Banks/financial institutions | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 1,598 1,742
Banks/financial institutions | Perpetual securities | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 0 0
Foreign currency swaps    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 492 563
Foreign currency swaps | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 176 101
Credit default swaps    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 1 1
Credit default swaps | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives 1 1
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Discounted cash flow valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives $ 42 $ 7
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Foreign Exchange Rates [1] 21.14% 20.05%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Entity Credit Risk 0.20% 0.32%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Entity Credit Risk 1.63% 1.47%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Discounted cash flow valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives $ 61  
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Entity Credit Risk 0.19%  
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Entity Credit Risk 1.06%  
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Discounted cash flow valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives $ 73 $ 94
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Foreign Exchange Rates [1] 21.14% 20.05%
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Discounted cash flow valuation technique | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Asset derivatives $ 1 $ 1
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Assets | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Entity Credit Risk 0.84% 1.23%
Fair Value Inputs, Recovery Rate 36.93% 36.87%
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Base Correlation [2] 64.18% 53.26%
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Base Correlation [2] 69.87% 58.40%
Dollar-denominated | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 40,594 $ 36,838
Dollar-denominated | Equity securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 550 11
Dollar-denominated | Mortgage- and asset-backed securities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 217 227
Dollar-denominated | Banks/financial institutions | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 3,259 3,478
Dollar-denominated | Banks/financial institutions | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 70 $ 111
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 1.36% 2.20%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 1.83% 2.62%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 1.64%  
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 2.14%  
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 1.64% 2.20%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [3] 2.14% 2.62%
Yen-denominated | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 39,692 $ 28,511
Yen-denominated | Equity securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 647 487
Yen-denominated | Mortgage- and asset-backed securities | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 921 355
Yen-denominated | Banks/financial institutions | Fixed maturities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities 2,967 2,541
Yen-denominated | Banks/financial institutions | Perpetual securities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Available-for-sale Securities $ 1,528 $ 1,631
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] (0.04%) 0.42%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.17% 1.22%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.15%  
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.60%  
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.15% 0.42%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair Value Inputs, Discount Rate [4] 0.60% 1.22%
[1] Based on 10 year volatility of JPY/USD exchange rate
[2] Range of base correlation for our bespoke tranche for attachment and detachment points corresponding to market indices.
[3] Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps
[4] Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps