Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Notes to Financial Statements [Abstract]

Obligations, funded status and assumptions

	As of or For the Years Ended December 31,
	2013		2012		2013		2012		2013		2012
	U.S.				Non-U.S.				Other
	Pension Benefits				Pension Benefits				Postretirement Benefits
Change in Plan Assets
Fair value as of beginning-of-year	$	1,043	$	956	$	371	$	350	$	42	$	39
Actual return on plan assets		67		123		18		28		3		3
Company and participant contributions		6		32		6		7		13		15
Benefits paid		(69)		(68)		(16)		(14)		(16)		(17)
Medicare Part D subsidy		-		-		-		-		3		2
Fair value as of end-of-year		1,047		1,043		379		371		45		42
Change in Benefit Obligation
Balance as of beginning-of-year		1,284		1,238		364		311		139		161
Service cost (1)		5		5		-		-		3		4
Interest cost		51		53		16		15		5		7
Company and participant contributions		-		-		-		-		4		6
Amendments		-		-		-		-		(29)		-
Actuarial (gains) losses		(93)		61		9		52		(7)		(24)
Administrative expenses paid		(6)		(5)		-		-		-		-
Benefits paid		(69)		(68)		(16)		(14)		(16)		(17)
Medicare Part D subsidy		-		-		-		-		3		2
Balance as of end-of-year		1,172		1,284		373		364		102		139
Funded status of the plans	$	(125)	$	(241)	$	6	$	7	$	(57)	$	(97)
Amounts Recognized on the
Consolidated Balance Sheets
Other assets	$	14	$	21	$	6	$	7	$	-	$	-
Other liabilities		(139)		(262)		-		-		(57)		(97)
Net amount recognized	$	(125)	$	(241)	$	6	$	7	$	(57)	$	(97)
Amounts Recognized in
Accumulated OCI, Net of Tax
Net (gain) loss	$	157	$	229	$	107	$	95	$	(15)	$	(11)
Prior service credit		-		-		-		-		(18)		(3)
Net amount recognized	$	157	$	229	$	107	$	95	$	(33)	$	(14)
Rate of Increase in Compensation
Retiree Life Insurance Plan		N/A		N/A		N/A		N/A		4.00%		4.00%
All other plans		N/A		N/A		N/A		N/A		N/A		N/A
Weighted-Average Assumptions
Benefit obligations:
Weighted-average discount rate		4.70%		4.16%		4.45%		4.40%		4.50%		4.03%
Expected return on plan assets		7.82%		7.79%		5.50%		5.30%		6.50%		6.50%
Net periodic benefit cost:
Weighted-average discount rate		4.16%		4.45%		4.40%		5.00%		4.03%		4.25%
Expected return on plan assets		7.82%		7.79%		5.50%		5.30%		6.50%		6.50%

⁽¹⁾ Amounts for our U.S. pension plans represent general and administrative expenses.

Health care cost trend rate

	As of or For the
	Years Ended December 31,
	2013	2012	2011
Pre-65 health care cost trend rate	7.50%	8.00%	8.50%
Post-65 health care cost trend rate	7.50%	8.00%	8.50%
Ultimate trend rate	4.50%	4.50%	4.50%
Year that the rate reaches the ultimate trend rate	2020	2020	2021

Pension plans with an accumulated benefit obligation in excess of plan assets

	As of December 31,
	2013		2012
U.S. Plan
Accumulated benefit obligation	$	1,059	$	1,160
Projected benefit obligation		1,059		1,160
Fair value of plan assets		920		898

Components of net periodic benefit cost

	For the Years Ended December 31,
	2013		2012		2011		2013		2012		2011
	Pension Benefits						Other Postretirement Benefits
U.S. Plans
Service cost (1)	$	5	$	5	$	3	$	3	$	4	$	4
Interest cost		51		53		58		5		7		7
Expected return on plan assets		(78)		(72)		(71)		(3)		(3)		(2)
Amortization of prior service cost		-		-		-		(1)		(1)		(1)
Recognized net actuarial loss (gain)		24		26		13		(1)		1		1
Recognized actuarial gain due
to curtailments		-		-		-		(5)		-		-
Net periodic benefit expense (recovery)	$	2	$	12	$	3	$	(2)	$	8	$	9
Non-U.S. Plans
Interest cost	$	16	$	15	$	15
Expected return on plan assets		(19)		(17)		(16)
Recognized net actuarial loss (gain)		2		1		-
Net periodic benefit expense (recovery)	$	(1)	$	(1)	$	(1)

Pension plan asset target allocations by asset category

	For the Years Ended December 31,
	2013	2012	2013	2012	2013	2012
	U.S. Plan – Employees		U.S. Plan – Agents		Non-U.S. Plan
Asset Class
Fixed maturity securities	50%	50%	100%	80%	39%	39%
Common stock:
Domestic equity	35%	35%	0%	14%	0%	0%
International equity	15%	15%	0%	6%	0%	0%
Equity securities	0%	0%	0%	0%	58%	59%
Cash and invested cash	0%	0%	0%	0%	3%	2%

Fair value measurements of pension plan assets on a recurring basis

	As of December 31,
	2013		2012		2013		2012		2013		2012
	U.S.				Non-U.S.				Other
	Pension Plans				Pension Plans				Postretirement Benefits
Fixed maturity securities:
Corporate bonds	$	374	$	343	$	40	$	35	$	-	$	-
U.S. government bonds		133		145		4		4		-		-
Foreign government bonds		-		15		174		179		-		-
RMBS		-		1		-		-		-		-
CMBS		-		3		-		-		-		-
CDOs		-		1		4		4		-		-
State and municipal bonds		37		42		-		-		-		-
Common and preferred stock		463		475		83		96		-		-
Cash and invested cash		40		18		74		53		-		-
Other investments		-		-		-		-		45		42
Total	$	1,047	$	1,043	$	379	$	371	$	45	$	42

Estimated future benefit payments

	Pension Plans
	Qualified		Nonqualified			Qualified
	U.S.			U.S.		Non-U.S.		U.S.
	Defined			Defined		Defined		Other
	Benefit			Benefit		Benefit		Post-
	Pension			Pension		Pension		retirement
	Plans			Plans		Plans		Plans
2014	$	73		$	10	$	14	$	9
2015		73			10		14		9
2016		74			10		15		9
2017		71			10		16		9
2018		71			9		17		8
Following five years thereafter		343			44		94		35