Liability for Unpaid Claims (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

Changes in the liability for unpaid claims and claim adjustment expenses are as follows:



	2012			2011			2010
	(in millions of dollars)
Balance at January 1	$	24,586.5		$	24,339.4		$	24,585.7
Less Reinsurance Recoverable	2,042.6			2,028.2			2,179.3
Net Balance at January 1	22,543.9			22,311.2			22,406.4

Incurred Related to
Current Year	4,946.2			4,684.4			4,517.9
Prior Years
Interest	1,247.6			1,262.9			1,268.9
All Other Incurred	(175.7		)	209.1			(61.3		)
Foreign Currency	101.1			(10.9		)	(73.9		)
Total Incurred	6,119.2			6,145.5			5,651.6

Paid Related to
Current Year	(1,715.4		)	(1,588.6		)	(1,514.8		)
Prior Years	(4,386.6		)	(4,324.2		)	(4,232.0		)
Total Paid	(6,102.0		)	(5,912.8		)	(5,746.8		)

Net Balance at December 31	22,561.1			22,543.9			22,311.2
Plus Reinsurance Recoverable	2,006.0			2,042.6			2,028.2
Balance at December 31	$	24,567.1		$	24,586.5		$	24,339.4

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

A reconciliation of policy and contract benefits and reserves for future policy and contract benefits as reported in our consolidated balance sheets to the liability for unpaid claims and claim adjustment expenses is as follows:



	December 31
	2012		2011		2010
	(in millions of dollars)
Policy and Contract Benefits	$	1,484.6	$	1,494.0	$	1,565.0
Reserves for Future Policy and Contract Benefits	44,694.4		43,051.9		39,715.0
Total	46,179.0		44,545.9		41,280.0
Less:
Life Reserves for Future Policy and Contract Benefits	7,571.1		7,454.2		7,380.7
Accident and Health Active Life Reserves	7,763.3		7,259.6		6,451.6
Unrealized Adjustment to Reserves for Future Policy and Contract Benefits	6,277.5		5,245.6		3,108.3
Liability for Unpaid Claims and Claim Adjustment Expenses	$	24,567.1	$	24,586.5	$	24,339.4

- Definition

Tabular disclosure of the reasons for the change in incurred claims and claim adjustment expenses recognized in the income statement attributable to insured events of prior fiscal years. Also includes disclosures of additional premiums or return premiums accrued as a result of changes in incurred claims and claim adjustment expenses.

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- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

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