VARIABLE INTEREST ENTITIES (Tables)

12 Months Ended

Dec. 31, 2013

VARIABLE INTEREST ENTITIES

Schedule of Consolidated Variable Interest Entities

(in millions)	Real Estate and Investment Funds(c)		Securitization Vehicles		Structured Investment Vehicles		Affordable Housing Partnerships		Other		Total
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 assets		49		481		93		41		615		1,279
Total assets(a)(b)	$	898	$	20,466	$	841	$	2,027	$	1,780	$	26,012
Liabilities:
Long-term debt	$	71	$	494	$	87	$	188	$	154	$	994
Other liabilities		31		74		–		83		367		555
Total liabilities	$	102	$	568	$	87	$	271	$	521	$	1,549
December 31, 2012
Assets:
Bonds available for sale	$	198	$	2,422	$	–	$	–	$	324	$	2,944
Other bond securities		15		8,406		792		–		204		9,417
Mortgage and other loans receivable		–		–		–		–		398		398
Other invested assets		1,122		–		–		2,230		1,023		4,375
Other assets		59		719		183		33		2,013		3,007
Total assets(a)(b)	$	1,394	$	11,547	$	975	$	2,263	$	3,962	$	20,141
Liabilities:
Long-term debt	$	157	$	25	$	9	$	133	$	424	$	748
Other liabilities		20		43		–		68		1,044		1,175
Total liabilities	$	177	$	68	$	9	$	201	$	1,468	$	1,923

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

(b)  At December 31, 2013 and 2012, includes approximately $21.4 billion and $12.8 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.

(c)  At December 31, 2013 and 2012, off-balance sheet exposure primarily consisting of commitments to real estate and investments funds was $50.8 million and $48.7 million, respectively.

Schedule of Unconsolidated Variable Interest Entities

			Maximum Exposure to Loss
(in millions)	Total VIE Assets		On-Balance Sheet*		Off-Balance Sheet		Total
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
December 31, 2012
Real estate and investment funds	$	16,662	$	1,881	$	169	$	2,050
Affordable housing partnerships		498		498		–		498
Other		1,018		79		–		79
Total	$	18,178	$	2,458	$	169	$	2,627

*     At December 31, 2013 and 2012, $2.8 billion and $2.5 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.