INSURANCE LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2015

LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS

Schedule of reconciliation of activity in the liability for unpaid claims and claims adjustment expense

Years Ended December 31,
(in millions)		2015		2014		2013
Liability for unpaid losses and loss adjustment expenses, beginning of year	$	77,260	$	81,547	$	87,991
Reinsurance recoverable		(15,648)		(17,231)		(19,209)
Net liability for unpaid losses and loss adjustment expenses, beginning of year		61,612		64,316		68,782
Foreign exchange effect		(1,429)		(1,061)		(617)
Dispositions		-		-		(79)
Changes in net loss reserves due to retroactive asbestos reinsurance transaction		20		141		22
Total		60,203		63,396		68,108
Losses and loss adjustment expenses incurred:
Current year		20,308		21,279		22,171
Prior years, excluding discount		4,119		703		557
Prior years, discount charge (benefit)		(71)		478		(309)
Total		24,356		22,460		22,419
Losses and loss adjustment expenses paid*:
Current year		5,751		6,358		7,431
Prior years		18,205		17,886		18,780
Total		23,956		24,244		26,211
Balance, end of year:
Net liability for unpaid losses and loss adjustment expenses		60,603		61,612		64,316
Reinsurance recoverable		14,339		15,648		17,231
Total	$	74,942	$	77,260	$	81,547

*Includes amounts related to dispositions through the date of disposition.

Schedule of Policyholder contract deposits by product type

At December 31,
(in millions)		2015		2014
Policyholder contract deposits:
Fixed Annuities	$	52,397	$	53,370
Group Retirement		37,865		37,693
Life		14,028		13,717
Retirement Income Solutions		13,927		10,040
Institutional Markets		9,371		9,793
Total Policyholder contract deposits	$	127,588	$	124,613