INSURANCE LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2016

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)		2016		2015		2014
Liability for unpaid loss and loss adjustment expenses, beginning of year	$	74,942	$	77,260	$	81,547
Reinsurance recoverable		(14,339)		(15,648)		(17,231)
Net Liability for unpaid loss and loss adjustment expenses, beginning of year		60,603		61,612		64,316
Foreign exchange effect		(463)		(1,429)		(1,061)
Dispositions(a)		(1,058)		-		-
Changes in net liability for unpaid losses and loss adjustment expenses due to
retroactive asbestos reinsurance transaction		-		20		141
Total		59,082		60,203		63,396
Losses and loss adjustment expenses incurred:
Current year		20,232		20,308		21,279
Prior years, excluding discount		5,788		4,119		703
Prior years, discount charge (benefit)		(422)		(71)		478
Total losses and loss adjustment expenses incurred		25,598		24,356		22,460
Losses and loss adjustment expenses paid*:
Current year		(5,825)		(5,751)		(6,358)
Prior years		(16,908)		(18,205)		(17,886)
Total losses and loss adjustment expenses paid		(22,733)		(23,956)		(24,244)
Reclassified to liabilities held for sale(b)		(402)		-		-
Liability for unpaid loss and loss adjustment expenses, end of year:
Net liability for unpaid losses and loss adjustment expenses		61,545		60,603		61,612
Reinsurance recoverable		15,532		14,339		15,648
Total	$	77,077	$	74,942	$	77,260

(a) Includes amounts related to dispositions through the date of disposition. Includes sale of UGC and Ascot.

(b) Represents loss reserves included in our pending sale of certain of our insurance operations to Fairfax. Upon consummation of the sale, we may retain a portion of these reserves through reinsurance arrangements.

Reconciliation of Claims Development to Liability

	Net liability forunpaid losses and loss adjustment expensesas presented in the disaggregated tables below		Reinsurance recoverable on unpaid losses and loss adjustment expensesincluded in the disaggregated tables below		Gross liability forunpaid losses and loss adjustment expenses
(in millions)
Commercial Insurance:
Liability and Financial Lines
U.S. Workers' compensation (before discount)	$	13,069	$	2,879	$	15,948
U.S. Excess casualty		8,749		1,115		9,864
U.S. Other casualty		8,746		3,209		11,955
U.S. Financial lines		6,102		1,195		7,297
Europe Casualty and Financial lines		5,587		1,313		6,900
Total Liability and Financial Lines		42,253		9,711		51,964
Property and Special Risks:
U.S. and Europe		5,913		1,596		7,509
Total Property and Special Risks		5,913		1,596		7,509
Total Commercial Insurance		48,166		11,307		59,473
Consumer - Personal insurance
U.S., Europe and Japan		3,454		377		3,831
Total Consumer - Personal Insurance		3,454		377		3,831
Legacy Portfolio - Run-Off Property
and Casualty Insurance Lines
U.S. Long Tail Insurance lines (before discount)		5,967		1,679		7,646
Total Legacy Portfolio Run-Off Property and
Casualty Insurance Lines		5,967		1,679		7,646
Total	$	57,587	$	13,363	$	70,950
Other Reconciling Items
Discount on workers compensation lines						(3,570)
Other product lines						6,192
Unallocated loss adjustment expenses						3,505
Total					$	77,077

Schedule of undiscounted, incurred and paid losses and allocated loss adjustment expenses by accident year

The following tables present undiscounted, incurred and paid losses and allocated loss adjustment expenses by accident year, on a net basis after reinsurance, for 10 years:

U.S. Workers' Compensation

Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
	Years Ended December 31, (dollars in millions)																							December 31, 2016
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016		2016 Prior Year Development		Total of IBNR Liabilities Plus Expected Development on Reported Losses	Cumulative Number of Reported Claims
	Unaudited
2007	$	4,505	$	4,441	$	4,414	$	4,544	$	4,528	$	4,513	$	4,469	$	4,379	$	4,395	$	4,548	$	153	$	392	225,243
2008				4,114		4,184		4,422		4,425		4,471		4,398		4,385		4,398		4,547		149		504	198,597
2009						3,466		3,633		3,608		3,666		3,639		3,616		3,606		3,733		127		547	147,209
2010								2,706		3,049		3,125		3,148		3,211		3,214		3,311		97		550	132,987
2011										2,901		2,953		3,091		3,158		3,113		3,152		39		521	124,486
2012												2,382		2,194		2,286		2,260		2,334		74		571	70,426
2013														1,932		1,880		1,950		2,060		110		645	46,175
2014																1,729		1,764		1,916		152		807	39,000
2015																		1,708		1,864		156		1,027	34,241
2016																				1,299				965	25,164
Total																			$	28,764	$	1,057
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance from the table below																				(19,124)		-
Liabilities for losses and loss adjustment expenses and prior year development before 2007, net of reinsurance																				3,429		850
Unallocated loss adjustment expense prior year development																				-		13
Liabilities for losses and loss adjustment expenses and prior year loss development, net of reinsurance																			$	13,069	$	1,920

Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
	Years Ended December 31, (dollars in millions)
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016
	Unaudited
2007	$	926	$	1,856	$	2,452	$	2,844	$	3,122	$	3,359	$	3,577	$	3,665	$	3,773	$	3,855
2008				785		1,678		2,252		2,655		3,044		3,272		3,476		3,609		3,707
2009						630		1,328		1,756		2,120		2,390		2,621		2,780		2,887
2010								550		1,093		1,537		1,855		2,126		2,288		2,426
2011										519		1,129		1,561		1,884		2,129		2,285
2012												415		804		1,089		1,272		1,440
2013														282		619		879		1,067
2014																231		558		786
2015																		234		524
2016																				147
Total																			$	19,124

U.S. Excess Casualty

Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
	Years Ended December 31, (dollars in millions)																							December 31, 2016
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016		2016 Prior Year Development		Total of IBNR Liabilities Plus Expected Development on Reported Losses	Cumulative Number of Reported Claims
	Unaudited
2007	$	1,854	$	1,820	$	1,752	$	2,246	$	2,072	$	2,232	$	2,208	$	2,183	$	2,113	$	2,194	$	81	$	228	6,423
2008				1,979		2,000		2,173		1,951		1,832		1,884		1,721		1,667		1,638		(29)		228	4,561
2009						1,851		1,920		1,812		1,650		1,465		1,328		1,418		1,520		102		224	3,689
2010								1,885		2,094		2,091		1,782		1,649		1,736		1,722		(14)		399	3,459
2011										1,784		1,824		1,595		1,427		1,528		1,611		83		425	3,368
2012												1,604		1,400		1,239		1,486		1,566		80		621	3,252
2013														1,096		998		1,136		1,276		140		672	2,494
2014																873		996		1,185		189		788	1,791
2015																		913		1,380		467		972	1,325
2016																				810				748	540
Total																			$	14,902	$	1,099
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance from the table below																				(7,690)		-
Liabilities for losses and loss adjustment expenses and prior year development before 2007, net of reinsurance																				1,537		26
Unallocated loss adjustment expense prior year development																				-		(67)
Liabilities for losses and loss adjustment expenses and prior year loss development, net of reinsurance																			$	8,749	$	1,058

Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
	Years Ended December 31, (dollars in millions)
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016
	Unaudited
2007	$	8	$	102	$	301	$	732	$	1,085	$	1,402	$	1,613	$	1,712	$	1,796	$	1,857
2008				11		97		439		667		842		954		1,061		1,172		1,226
2009						8		69		249		449		624		788		965		1,175
2010								10		197		475		654		795		946		1,052
2011										5		63		225		387		716		921
2012												3		106		288		495		649
2013														15		105		206		386
2014																3		70		211
2015																		9		196
2016																				17
Total																			$	7,690

U.S. Other Casualty

Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
	Years Ended December 31, (dollars in millions)																							December 31, 2016
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016		2016 Prior Year Development		Total of IBNR Liabilities Plus Expected Development on Reported Losses	Cumulative Number of Reported Claims
	Unaudited
2007	$	2,892	$	2,633	$	2,615	$	2,736	$	2,770	$	2,805	$	2,787	$	2,774	$	2,846	$	2,874	$	28	$	166	102,070
2008				2,886		2,693		2,757		2,821		2,901		2,903		3,007		3,074		3,113		39		274	116,937
2009						2,343		2,445		2,513		2,509		2,624		2,745		2,807		2,791		(16)		151	89,845
2010								2,037		2,016		2,160		2,109		2,258		2,301		2,420		119		329	95,749
2011										1,970		2,222		2,321		2,458		2,601		2,639		38		381	74,916
2012												1,866		2,049		2,172		2,183		2,325		142		381	41,586
2013														1,580		1,702		1,882		2,116		234		570	36,174
2014																1,695		1,677		1,920		243		749	33,677
2015																		1,274		1,607		333		909	29,372
2016																				1,280				1,044	19,774
Total																			$	23,085	$	1,160
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance from the table below																				(15,844)		-
Liabilities for losses and loss adjustment expenses and prior year development before 2007, net of reinsurance																				1,505		287
Unallocated loss adjustment expense prior year development																						116
Liabilities for losses and loss adjustment expenses and prior year loss development, net of reinsurance																			$	8,746	$	1,563

Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
	Years Ended December 31, (dollars in millions)
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016
	Unaudited
2007	$	386	$	773	$	1,206	$	1,621	$	1,974	$	2,244	$	2,377	$	2,422	$	2,525	$	2,577
2008				277		711		1,171		1,691		2,039		2,316		2,506		2,651		2,755
2009						378		770		1,180		1,577		1,929		2,168		2,314		2,534
2010								279		578		902		1,275		1,557		1,741		1,889
2011										235		726		1,109		1,488		1,822		2,048
2012												382		712		1,002		1,349		1,644
2013														169		553		918		1,206
2014																204		566		816
2015																		93		303
2016																				72
Total																			$	15,844

U.S. Financial Lines

Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
	Years Ended December 31, (dollars in millions)																							December 31, 2016
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016		2016 Prior Year Development		Total of IBNR Liabilities Plus Expected Development on Reported Losses	Cumulative Number of Reported Claims
	Unaudited
2007	$	1,900	$	2,091	$	2,079	$	2,015	$	2,022	$	2,008	$	1,964	$	1,932	$	1,972	$	1,968	$	(4)	$	74	19,088
2008				1,911		2,084		2,049		1,861		1,970		1,906		1,964		2,089		2,112		23		32	21,709
2009						1,719		1,806		1,855		1,909		2,102		2,203		2,196		2,289		93		34	22,595
2010								1,576		1,526		1,420		1,381		1,373		1,470		1,485		15		46	20,126
2011										1,812		1,729		1,897		1,887		1,921		1,951		30		66	20,008
2012												1,579		1,747		1,782		1,889		1,942		53		199	20,029
2013														1,741		1,669		1,622		1,567		(55)		417	18,912
2014																1,742		1,712		1,775		63		612	17,091
2015																		1,670		1,689		19		1,045	15,386
2016																				1,599				1,392	14,001
Total																			$	18,377	$	237
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance from the table below																				(12,686)		-
Liabilities for losses and loss adjustment expenses and prior year development before 2007, net of reinsurance																				411		32
Unallocated loss adjustment expense prior year development																				-		37
Liabilities for losses and loss adjustment expenses and prior year loss development, net of reinsurance																			$	6,102	$	306

Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
	Years Ended December 31, (dollars in millions)
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016
	Unaudited
2007	$	61	$	413	$	816	$	1,184	$	1,364	$	1,531	$	1,684	$	1,748	$	1,800	$	1,811
2008				32		420		888		1,183		1,385		1,590		1,712		1,898		2,001
2009						129		499		887		1,273		1,614		1,839		1,968		2,075
2010								31		285		566		800		1,017		1,180		1,281
2011										165		494		886		1,210		1,529		1,749
2012												76		406		815		1,253		1,497
2013														43		333		687		949
2014																66		371		854
2015																		66		393
2016																				76
Total																			$	12,686

Europe Casualty and Financial Lines

Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
	Years Ended December 31, (dollars in millions)																							December 31, 2016
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016		2016 Prior Year Development		Total of IBNR Liabilities Plus Expected Development on Reported Losses	Cumulative Number of Reported Claims
	Unaudited
2007	$	1,047	$	1,073	$	1,084	$	1,057	$	1,094	$	1,088	$	1,167	$	1,171	$	1,178	$	1,184	$	6	$	14	191,746
2008				1,311		1,396		1,424		1,401		1,424		1,430		1,458		1,420		1,426		6		53	238,417
2009						1,539		1,627		1,659		1,661		1,689		1,699		1,704		1,759		55		78	232,281
2010								1,300		1,258		1,255		1,277		1,218		1,252		1,250		(2)		103	265,264
2011										1,239		1,175		1,239		1,284		1,364		1,377		13		157	256,431
2012												1,074		1,041		1,005		1,081		1,146		65		172	209,632
2013														1,080		1,124		1,109		1,124		15		182	176,010
2014																1,143		1,123		1,166		43		376	164,208
2015																		1,204		1,363		159		736	175,571
2016																				1,407				1,029	178,185
Total																			$	13,202	$	360
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance from the table below																				(8,005)		-
Liabilities for losses and loss adjustment expenses and prior year development before 2007, net of reinsurance																				390		(7)
Unallocated loss adjustment expense prior year development																				-		2
Liabilities for losses and loss adjustment expenses and prior year loss development, net of reinsurance																			$	5,587	$	355

Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
	Years Ended December 31, (dollars in millions)
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016
	Unaudited
2007	$	88	$	297	$	454	$	632	$	765	$	846	$	961	$	996	$	1,025	$	1,067
2008				116		429		655		870		1,014		1,128		1,199		1,242		1,304
2009						125		379		645		881		1,033		1,156		1,309		1,421
2010								133		378		570		725		850		936		995
2011										127		339		507		733		868		985
2012												110		303		438		615		734
2013														95		340		493		664
2014																79		273		447
2015																		74		261
2016																				127
Total																			$	8,005

U.S. and Europe Property and Special Risks

Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
	Years Ended December 31, (dollars in millions)																							December 31, 2016
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016		2016 Prior Year Development		Total of IBNR Liabilities Plus Expected Development on Reported Losses	Cumulative Number of Reported Claims
	Unaudited
2007	$	2,259	$	2,061	$	2,153	$	2,119	$	2,087	$	2,073	$	2,073	$	2,069	$	2,072	$	2,070	$	(2)	$	34	88,737
2008				4,114		4,360		4,318		4,276		4,225		4,169		4,140		4,132		4,124		(8)		31	95,060
2009						2,608		2,320		2,318		2,327		2,282		2,285		2,265		2,272		7		32	79,096
2010								3,014		2,747		2,687		2,710		2,716		2,684		2,692		8		25	78,713
2011										3,757		3,586		3,514		3,511		3,491		3,532		41		47	79,542
2012												4,154		4,285		4,232		4,216		4,329		113		76	71,951
2013														2,837		2,877		2,715		2,781		66		138	69,782
2014																3,307		3,154		3,244		90		235	81,948
2015																		3,568		3,607		39		500	82,836
2016																				3,633				921	61,956
Total																			$	32,284	$	354
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance from the table below																				(26,468)		-
Liabilities for losses and loss adjustment expenses and prior year development before 2007, net of reinsurance																				97		6
Unallocated loss adjustment expense prior year development																				-		42
Liabilities for losses and loss adjustment expenses and prior year loss development, net of reinsurance																			$	5,913	$	402

Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
	Years Ended December 31, (dollars in millions)
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016
	Unaudited
2007	$	520	$	1,294	$	1,629	$	1,784	$	1,880	$	1,930	$	1,962	$	1,982	$	2,006	$	2,007
2008				1,455		3,029		3,600		3,825		3,970		4,013		4,030		4,046		4,064
2009						661		1,438		1,780		1,985		2,097		2,156		2,184		2,206
2010								828		1,849		2,207		2,396		2,496		2,570		2,612
2011										1,049		2,400		2,924		3,134		3,284		3,370
2012												878		2,794		3,458		3,789		3,995
2013														771		1,775		2,128		2,328
2014																951		2,076		2,547
2015																		1,094		2,255
2016																				1,084
Total																			$	26,468

U.S., Europe and Japan Personal Insurance

Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
	Years Ended December 31, (dollars in millions)																							December 31, 2016
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016		2016 Prior Year Development		Total of IBNR Liabilities Plus Expected Development on Reported Losses	Cumulative Number of Reported Claims
	Unaudited
2007	$	4,662	$	4,805	$	4,725	$	4,710	$	4,729	$	4,739	$	4,742	$	4,742	$	4,745	$	4,744	$	(1)	$	4	1,737,033
2008				4,535		4,592		4,592		4,611		4,618		4,621		4,625		4,631		4,630		(1)		9	1,851,828
2009						4,698		4,634		4,590		4,624		4,616		4,614		4,612		4,611		(1)		7	1,959,522
2010								4,819		4,826		4,846		4,836		4,838		4,832		4,832		-		13	2,215,816
2011										5,226		5,315		5,275		5,272		5,258		5,250		(8)		25	2,159,211
2012												5,135		5,028		4,998		4,956		4,943		(13)		15	2,096,881
2013														4,714		4,640		4,602		4,576		(26)		52	2,023,707
2014																4,376		4,392		4,376		(16)		126	2,008,729
2015																		4,433		4,385		(48)		276	1,949,211
2016																				4,426				902	1,702,448
Total																			$	46,773	$	(114)
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance from the table below																				(43,345)		-
Liabilities for losses and loss adjustment expenses and prior year development before 2007, net of reinsurance																				26		(3)
Unallocated loss adjustment expense prior year development																				-		3
Liabilities for losses and loss adjustment expenses and prior year loss development, net of reinsurance																			$	3,454	$	(114)

Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
	Years Ended December 31, (dollars in millions)
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016
	Unaudited
2007	$	2,867	$	4,162	$	4,395	$	4,547	$	4,628	$	4,670	$	4,699	$	4,717	$	4,727	$	4,731
2008				2,781		3,958		4,275		4,432		4,511		4,557		4,584		4,596		4,608
2009						2,780		4,016		4,268		4,428		4,504		4,545		4,570		4,587
2010								2,920		4,184		4,496		4,643		4,721		4,764		4,788
2011										3,270		4,631		4,927		5,064		5,146		5,182
2012												2,868		4,333		4,624		4,774		4,858
2013														2,671		3,963		4,261		4,408
2014																2,495		3,708		4,024
2015																		2,497		3,712
2016																				2,447
Total																			$	43,345

U.S. Run-Off Long Tail Insurance lines

Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
	Years Ended December 31, (dollars in millions)																							December 31, 2016
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016		2016 Prior Year Development		Total of IBNR Liabilities Plus Expected Development on Reported Losses	Cumulative Number of Reported Claims
	Unaudited
2007	$	959	$	743	$	807	$	801	$	833	$	843	$	851	$	859	$	860	$	876	$	16	$	55	56,148
2008				936		1,025		872		855		895		911		964		961		967		6		75	40,046
2009						543		523		532		566		621		588		584		564		(20)		91	16,213
2010								633		521		527		548		576		572		601		29		81	8,475
2011										528		538		571		635		669		678		9		88	7,776
2012												623		674		736		781		745		(36)		105	4,033
2013														477		530		585		566		(19)		152	2,483
2014																374		472		451		(21)		192	2,246
2015																		434		520		86		204	2,154
2016																				292				197	1,483
Total																			$	6,260	$	50
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance from the table
below																				(4,171)		-
Liabilities for losses and loss adjustment expenses and prior year development before 2007, net of reinsurance																				3,878		345
Unallocated loss adjustment expense prior year development																				-		(5)
Liabilities for losses and loss adjustment expenses and prior year loss development, net of reinsurance																			$	5,967	$	390

Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
	Years Ended December 31, (dollars in millions)
Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015		2016
	Unaudited
2007	$	145	$	230	$	321	$	431	$	578	$	641	$	710	$	751	$	770	$	784
2008				130		360		485		559		643		711		773		817		830
2009						38		125		220		273		354		394		414		431
2010								55		142		235		313		395		425		445
2011										19		135		253		379		442		525
2012												85		191		282		409		476
2013														86		152		258		316
2014																20		93		183
2015																		34		129
2016																				52
Total																			$	4,171

Prior Year Development before 2007

The previous development tables include only accident years 2007 to 2016. The following table summarizes development, (favorable) or unfavorable, of incurred losses and loss adjustment expenses for accident year 2006 and prior by operating segment and major class of business:

Years Ended December 31,
(in millions)		2016		2015		2014
2006 and prior accident year development by major class
of business and driver of development:
U.S. Workers Compensation	$	850	$	122	$	158
U.S. Excess Casualty		26		476		437
U.S. Other Casualty		287		366		242
U.S. Financial Lines		32		135		(24)
Property and Special Risks		6		16		(4)
Legacy Portfolio		345		621		258
All Other		(2)		62		3
Total	$	1,544	$	1,798	$	1,070

Schedule of historical average annual percentage claims payout on an accident year basis

Average Annual Percentage Payout of Incurred Losses by Age, Net of Reinsurance (Unaudited)
Year	1		2		3		4		5		6		7		8		9		10
U.S. Workers' compensation	15.5	%	17.8	%	12.6	%	9.2	%	7.5	%	5.2	%	4.4	%	2.6	%	2.3	%	1.8	%
U.S. Excess casualty	0.7		6.8		12.4		13.5		12.8		10.7		8.5		8.4		3.5		2.8
U.S. Other casualty	10.3		15.2		14.4		14.8		12.2		8.6		5.5		4.7		3.5		1.8
U.S. Financial lines	4.0		17.6		21.2		17.3		12.9		10.1		6.5		5.6		3.8		0.5
Europe Casualty and Financial lines	8.2		17.6		14.0		14.7		10.0		7.4		7.0		4.1		3.4		3.5
U.S. and Europe Property and Special Risks	28.7		37.0		14.5		7.1		4.3		2.3		1.2		0.8		0.8		-
U.S. Europe and Japan Personal insurance	58.9		27.2		6.1		3.1		1.7		0.9		0.6		0.3		0.2		0.1
U.S. Run-off Long Tail Insurance lines	10.4		15.7		15.5		12.7		11.9		7.7		5.2		4.1		1.8		1.6

Schedule of loss reserve discount and loss reserve discount benefit (charge)

The following table presents the components of the loss reserve discount discussed above:

December 31,	2016						2015
				Legacy						Legacy
				Portfolio -						Portfolio -
				Property						Property
				and Casualty						and Casualty
		U.S.		run-off				U.S.		run-off
		Liability and		Insurance				Liability and		Insurance
(in millions)		Financial Lines		Lines		Total		Financial Lines		Lines		Total
U.S. workers' compensation	$	2,583	$	987	$	3,570	$	2,177	$	964	$	3,141
Asbestos		-		-		-		-		7		7
Total reserve discount	$	2,583	$	987	$	3,570	$	2,177	$	971	$	3,148

The following table presents the net loss reserve discount benefit (charge):

Years Ended December 31,	2016						2015						2014
				Legacy						Legacy						Legacy
				Portfolio -						Portfolio -						Portfolio -
				Property						Property						Property
				and Casualty						and Casualty						and Casualty
		U.S.		run-off				U.S.		run-off				U.S.		run-off
		Liability and		Insurance			Liability and			Insurance			Liability and			Insurance
(in millions)	Financial Lines			Lines		Total	Financial Lines			Lines		Total	Financial Lines			Lines		Total
Current accident year	$	177	$	-	$	177	$	182	$	-	$	182	$	189	$	-	$	189
Accretion and other
adjustments to prior
year discount		287		64		351		(262)		(74)		(336)		(35)		(235)		(270)
Effect of interest rate
changes		(58)		(48)		(106)		148		77		225		(225)		(172)		(397)
Net reserve discount
benefit (charge)		406		16		422		68		3		71		(71)		(407)		(478)
Amount transferred to run-off
insurance lines		-		-		-		(39)		39		-		-		-		-
Net change in total reserve
discount	$	406	$	16	$	422	$	29	$	42	$	71	$	(71)	$	(407)	$	(478)
Comprised of:
U.S. Workers' compensation	$	406	$	23	$	429	$	29	$	46	$	75	$	(71)	$	(385)	$	(456)
Asbestos	$	-	$	(7)	$	(7)	$	-	$	(4)	$	(4)	$	-	$	(22)	$	(22)

Schedule of Policyholder contract deposits by product type

At December 31,
(in millions)		2016		2015
Policyholder contract deposits:
Fixed Annuities	$	51,278	$	52,103
Group Retirement		39,578		37,854
Life Insurance		11,855		11,691
Variable and Index Annuities		16,934		13,927
Institutional Markets		7,286		6,533
Legacy Portfolio		5,285		5,480
Total Policyholder contract deposits	$	132,216	$	127,588