VARIABLE INTEREST ENTITIES (Tables)

9 Months Ended

Sep. 30, 2014

Schedule of Consolidated Variable Interest Entities

(in millions)		Real Estate and Investment Funds^(e)		Securitization Vehicles		Structured Investment Vehicles		Affordable Housing Partnerships		Other		Total
September 30, 2014
Assets:
Bonds available for sale	$	-	$	11,320	$	-	$	-	$	41	$	11,361
Other bond securities		-		7,375		662		-		44		8,081
Mortgage and other loans receivable		-		2,460		-		-		168		2,628
Other invested assets		586		-		-		1,725		705		3,016
Other ^(a)		41		697		90		46		561		1,435
Total assets^(b)(c)	$	627	$	21,852	$	752	$	1,771	$	1,519	$	26,521
Liabilities:
Long-term debt	$	69	$	1,371	$	91	$	184	$	73	$	1,788
Other ^(d)		32		91		-		88		201		412
Total liabilities	$	101	$	1,462	$	91	$	272	$	274	$	2,200
December 31, 2013
Assets:
Bonds available for sale	$	-	$	11,028	$	-	$	-	$	70	$	11,098
Other bond securities		-		7,449		748		-		113		8,310
Mortgage and other loans receivable		-		1,508		-		-		189		1,697
Other invested assets		849		-		-		1,986		793		3,628
Other ^(a)		49		481		93		41		615		1,279
Total assets^(b)(c)	$	898	$	20,466	$	841	$	2,027	$	1,780	$	26,012
Liabilities:
Long-term debt	$	71	$	494	$	87	$	188	$	154	$	994
Other^(d)		31		74		-		83		367		555
Total liabilities	$	102	$	568	$	87	$	271	$	521	$	1,549

(a) Comprised primarily of Short-term investments, Premiums and other receivables and Other assets at both September 30, 2014 and December 31, 2013.

(b) The assets of each VIE can be used only to settle specific obligations of that VIE.

(c) At September 30, 2014 and December 31, 2013, includes approximately $21.7 billion and $21.4 billion, respectively, of investment-grade debt securities, loans and other assets held by certain securitization vehicles that issued beneficial interests in these investments. The majority of the beneficial interests issued are held by AIG.

(d) Comprised primarily of Other liabilities and Derivative liabilities, at fair value, at both September 30, 2014 and December 31, 2013.

(e) At September 30, 2014 and December 31, 2013, off-balance sheet exposure, primarily consisting of commitments to real estate and investment funds, was $60.2 million and $50.8 million, respectively.

Schedule of Unconsolidated Variable Interest Entities

			Maximum Exposure to Loss
		Total VIE		On-Balance		Off-Balance
(in millions)		Assets		Sheet^*		Sheet		Total
September 30, 2014
Real estate and investment funds	$	20,228	$	2,741	$	421	$	3,162
Affordable housing partnerships		438		438		-		438
Other		615		31		-		31
Total	$	21,281	$	3,210	$	421	$	3,631
December 31, 2013
Real estate and investment funds	$	17,572	$	2,343	$	289	$	2,632
Affordable housing partnerships		478		477		-		477
Other		708		37		-		37
Total	$	18,758	$	2,857	$	289	$	3,146

* At September 30, 2014 and December 31, 2013, $3.2 billion and $2.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.