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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2019
GOODWILL AND OTHER INTANGIBLE ASSETS  
Schedule of changes in goodwill by reportable segment

 

General Insurance

 

 

 

 

 

 

 

 

 

North

 

Life

 

Other

 

Legacy

 

 

(in millions)

America

International

Insurance

Operations

Portfolio

 

Total

Balance at January 1, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill - gross

$

1,878

$

2,807

$

77

$

27

$

216

$

5,005

Accumulated impairments

 

(1,264)

 

(2,136)

 

-

 

-

 

(77)

 

(3,477)

Net goodwill

 

614

 

671

 

77

 

27

 

139

 

1,528

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

-

 

-

 

4

 

-

 

4

Dispositions

 

(10)

 

(7)

 

(6)

 

-

 

(2)

 

(25)

Other

 

-

 

74

 

13

 

-

 

-

 

87

Balance at December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill - gross

 

1,868

 

2,874

 

84

 

31

 

214

 

5,071

Accumulated impairments

 

(1,264)

 

(2,136)

 

-

 

-

 

(77)

 

(3,477)

Net goodwill

 

604

 

738

 

84

 

31

 

137

 

1,594

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

 

 

Acquisitions(a)

 

2,332

 

157

 

46

 

9

 

-

 

2,544

Other

 

(12)

 

(48)

 

(5)

 

9

 

-

 

(56)

Balance at December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill - gross

 

4,188

 

2,983

 

125

 

49

 

214

 

7,559

Accumulated impairments

 

(1,264)

 

(2,136)

 

-

 

-

 

(77)

 

(3,477)

Net goodwill

 

2,924

 

847

 

125

 

49

 

137

 

4,082

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

20

 

-

 

-

 

-

 

20

Other(b)

 

-

 

26

 

8

 

-

 

(98)

 

(64)

Balance at December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill - gross

 

4,188

 

3,029

 

133

 

49

 

116

 

7,515

Accumulated impairments

 

(1,264)

 

(2,136)

 

-

 

-

 

(77)

 

(3,477)

Net goodwill

$

2,924

$

893

$

133

$

49

$

39

$

4,038

(a)Includes goodwill of $2.0 billion, $492 million and $46 million relating to the acquisitions of Validus, Glatfelter and Ellipse, respectively.

 

(b)Reflects $98 million of goodwill that has been reclassified to assets held for sale.
Changes in other intangible assets

 

General Insurance

 

 

 

 

 

 

 

 

 

North

 

Life

 

Other

 

Legacy

 

 

(in millions)

America

International

Insurance

Operations

Portfolio

 

Total

Other intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2018

$

27

$

8

$

34

$

37

$

-

$

106

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

61

 

207

 

16

 

-

 

-

 

284

Amortization

 

(2)

 

(3)

 

(4)

 

(2)

 

-

 

(11)

Other

 

-

 

-

 

-

 

(19)

 

-

 

(19)

Balance at December 31, 2018

$

86

$

212

$

46

$

16

$

-

$

360

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

-

 

-

 

-

 

-

 

-

Amortization

 

(1)

 

(1)

 

(4)

 

(2)

 

-

 

(8)

Other

 

(3)

 

-

 

(18)

 

2

 

-

 

(19)

Balance at December 31, 2019:

$

82

$

211

$

24

$

16

$

-

$

333

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of distribution network acquired

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2018

$

-

$

-

$

-

$

-

$

-

$

-

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

-

 

-

 

582

 

-

 

582

Amortization

 

-

 

-

 

-

 

(15)

 

-

 

(15)

Other

 

-

 

-

 

-

 

2

 

-

 

2

Balance at December 31, 2018

$

-

$

-

$

-

$

569

$

-

$

569

Increase (decrease) due to:

 

 

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

-

 

-

 

-

 

-

 

-

 

-

Amortization

 

-

 

-

 

-

 

(39)

 

-

 

(39)

Other

 

-

 

-

 

-

 

6

 

-

 

6

Balance at December 31, 2019:

$

-

$

-

$

-

$

536

$

-

$

536