Investments (Tables)

9 Months Ended

Sep. 30, 2015

Investments [Abstract]

Reconciliation Of Available-For-Sale Securities From Cost Basis To Fair Value

	As of September 30, 2015
	Amortized		Gross Unrealized							Fair
	Cost		Gains		Losses		OTTI (1)			Value
Fixed maturity securities:
Corporate bonds	$	69,836	$	4,836	$	1,374	$	7		$	73,291
Asset-backed securities ("ABS")		1,089		53		15		(14	)		1,141
U.S. government bonds		386		53		1		-			438
Foreign government bonds		466		67		1		-			532
Residential mortgage-backed securities ("RMBS")		3,638		217		21		(15	)		3,849
Commercial mortgage-backed securities ("CMBS")		388		15		1		(1	)		403
Collateralized loan obligations ("CLOs")		511		3		1		(2	)		515
State and municipal bonds		3,778		716		14		-			4,480
Hybrid and redeemable preferred securities		807		93		43		-			857
VIEs’ fixed maturity securities		595		3		-		-			598
Total fixed maturity securities		81,494		6,056		1,471		(25	)		86,104
Equity securities		232		15		5		-			242
Total AFS securities	$	81,726	$	6,071	$	1,476	$	(25	)	$	86,346

	As of December 31, 2014
	Amortized		Gross Unrealized							Fair
	Cost		Gains		Losses		OTTI (1)			Value
Fixed maturity securities:
Corporate bonds	$	67,153	$	6,711	$	443	$	5		$	73,416
ABS		1,087		56		20		(7	)		1,130
U.S. government bonds		379		56		-		-			435
Foreign government bonds		473		68		-		-			541
RMBS		3,979		242		14		(19	)		4,226
CMBS		554		23		1		6			570
CLOs		375		-		2		(2	)		375
State and municipal bonds		3,723		874		4		-			4,593
Hybrid and redeemable preferred securities		886		108		40		-			954
VIEs’ fixed maturity securities		587		11		-		-			598
Total fixed maturity securities		79,196		8,149		524		(17	)		86,838
Equity securities		216		15		-		-			231
Total AFS securities	$	79,412	$	8,164	$	524	$	(17	)	$	87,069

(1)      Includes unrealized gains  (losses) on impaired securities related to changes in the fair value of such securities subsequent to the impairment measurement date.

Available-For-Sale Securities By Contractual Maturities

	Amortized		Fair
	Cost		Value
Due in one year or less	$	2,785	$	2,833
Due after one year through five years		17,706		18,845
Due after five years through ten years		20,552		20,899
Due after ten years		34,230		37,021
Subtotal		75,273		79,598
Structured securities (ABS, MBS, CLOs)		6,221		6,506
Total fixed maturity AFS securities	$	81,494	$	86,104

Fair Value And Gross Unrealized Losses In A Continuous Unrealized Loss Position

	As of September 30, 2015
	Less Than or Equal					Greater Than
	to Twelve Months					Twelve Months					Total
				Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
	Fair		Losses and			Fair		Losses and			Fair		Losses and
	Value			OTTI		Value			OTTI		Value			OTTI
Fixed maturity securities:
Corporate bonds	$	15,865		$	1,132	$	1,569		$	254	$	17,434		$	1,386
ABS		119			2		271			27		390			29
U.S. government bonds		14			1		-			-		14			1
Foreign government bonds		37			1		-			-		37			1
RMBS		639			15		210			13		849			28
CMBS		112			2		11			4		123			6
CLOs		96			1		50			-		146			1
State and municipal bonds		159			10		28			4		187			14
Hybrid and redeemable
preferred securities		58			1		148			42		206			43
Total fixed maturity securities		17,099			1,165		2,287			344		19,386			1,509
Equity securities		48			5		-			-		48			5
Total AFS securities	$	17,147		$	1,170	$	2,287		$	344	$	19,434		$	1,514
Total number of AFS securities in an unrealized loss position															1,575

	As of December 31, 2014
	Less Than or Equal					Greater Than
	to Twelve Months					Twelve Months					Total
				Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
	Fair		Losses and			Fair		Losses and			Fair		Losses and
	Value			OTTI		Value			OTTI		Value			OTTI
Fixed maturity securities:
Corporate bonds	$	4,799		$	207	$	4,465		$	244	$	9,264		$	451
ABS		91			2		323			41		414			43
RMBS		447			7		241			14		688			21
CMBS		121			1		19			10		140			11
CLOs		110			1		70			1		180			2
State and municipal bonds		6			-		26			4		32			4
Hybrid and redeemable
preferred securities		31			-		176			40		207			40
Total fixed maturity securities		5,605			218		5,320			354		10,925			572
Equity securities		37			1		-			-		37			1
Total AFS securities	$	5,642		$	219	$	5,320		$	354	$	10,962		$	573
Total number of AFS securities in an unrealized loss position															1,019

Schedule Of Available-For-Sale Securites Whose Value Is Below Amortized Cost

	As of September 30, 2015
								Number
	Fair		Gross Unrealized					of
	Value		Losses		OTTI		Securities (1)
Less than six months	$	932	$	397	$	3			103
Six months or greater, but less than nine months		45		31		-			3
Nine months or greater, but less than twelve months		8		5		2			7
Twelve months or greater		152		74		19			59
Total	$	1,137	$	507	$	24			172

	As of December 31, 2014
								Number
	Fair		Gross Unrealized					of
	Value		Losses		OTTI		Securities (1)
Less than six months	$	48	$	19	$	-			12
Six months or greater, but less than nine months		8		7		-			3
Twelve months or greater		242		97		33			82
Total	$	298	$	123	$	33			97

(1)We may reflect a security in more than one aging category based on various purchase dates.

Schedule Of Changes In Amount Of Credit Losses Of OTTI Recognized In Net Income (Loss)

	For the Three						For the Nine
	Months Ended						Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
Balance as of beginning-of-period	$	374		$	389		$	380		$	404
Increases attributable to:
Credit losses on securities for which an
OTTI was not previously recognized		-			1			16			2
Credit losses on securities for which an
OTTI was previously recognized		5			4			12			12
Decreases attributable to:
Securities sold, paid down or matured		(1	)		(17	)		(30	)		(41	)
Balance as of end-of-period	$	378		$	377		$	378		$	377

Schedule of Details Of The Amount Of Credit Losses Of OTTI Recognized In Net Income (Loss)

	As of September 30, 2015
			Net
			Unrealized					OTTI in
	Amortized		Gain/(Loss)			Fair		Credit
	Cost		Position			Value		Losses
Corporate bonds	$	32	$	(7	)	$	25	$	25
ABS		203		14			217		107
RMBS		385		15			400		193
CMBS		37		1			38		48
CLOs		12		2			14		5
Total	$	669	$	25		$	694	$	378

	As of December 31, 2014
			Net
			Unrealized					OTTI in
	Amortized		Gain/(Loss)			Fair		Credit
	Cost		Position			Value		Losses
Corporate bonds	$	38	$	(5	)	$	33	$	20
ABS		221		7			228		103
RMBS		447		19			466		190
CMBS		46		(6	)		40		62
CLOs		11		2			13		5
Total	$	763	$	17		$	780	$	380

Composition Of Current And Past Due Mortgage Loans On Real Estate

		As of			As of
	September 30,				December 31,
		2015				2014
Current		$	8,430			$	7,565
60 to 90 days past due			-				-
Greater than 90 days past due			-				8
Valuation allowance associated with impaired mortgage loans on real estate			(2	)			(3	)
Unamortized premium (discount)			3				4
Total carrying value		$	8,431			$	7,574

Schedule Of Impaired Mortgage Loans

		As of				As of
	September 30,				December 31,
		2015				2014
Number of impaired mortgage loans on real estate		2				3
Principal balance of impaired mortgage loans on real estate		$	8			$	26
Valuation allowance associated with impaired mortgage loans on real estate			(2	)			(3	)
Carrying value of impaired mortgage loans on real estate		$	6			$	23

Schedule of changes in the valuation allowance associated with impaired mortgage loans on real estate

	As of				As of
	September 30,				December 31,
		2015				2014
Balance as of beginning-of-year		$	3			$	3
Additions			-				-
Charge-offs, net of recoveries			(1	)			-
Balance as of end-of-period		$	2			$	3

Schedule Of Average Carrying Value Of Impaired Mortgage Loans

	For the Three				For the Nine
	Months Ended				Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Average carrying value for impaired mortgage loans on real estate	$	14	$	24	$	20	$	24
Interest income recognized on impaired mortgage loans on real estate		-		-		1		1
Interest income collected on impaired mortgage loans on real estate		-		-		1		1

Credit Quality Indicators For Mortgage Loans

	As of September 30, 2015				As of December 31, 2014
				Debt-				Debt-
				Service				Service
	Carrying		% of	Coverage	Carrying		% of	Coverage
	Value		Total	Ratio	Value		Total	Ratio
Less than 65%	$	7,432	88.1%	2.05	$	6,596	87.1%	1.90
65% to 74%		655	7.8%	1.61		631	8.3%	1.55
75% to 100%		338	4.0%	0.83		316	4.2%	0.77
Greater than 100%		6	0.1%	1.03		31	0.4%	0.77
Total mortgage loans on real estate	$	8,431	100.0%		$	7,574	100.0%

Realized Gain (Loss) Related To Certain Investments

	For the Three						For the Nine
	Months Ended						Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
Fixed maturity AFS securities: (1)
Gross gains	$	1		$	4		$	26		$	23
Gross losses		(23	)		(6	)		(51	)		(18	)
Equity AFS securities:
Gross gains		1			2			2			5
Gross losses		-			-			-			-
Gain (loss) on other investments		-			-			(7	)		3
Associated amortization of DAC, VOBA, DSI and DFEL
and changes in other contract holder funds		(5	)		(7	)		(21	)		(24	)
Total realized gain (loss) related to certain investments, pre-tax	$	(26	)	$	(7	)	$	(51	)	$	(11	)

(1)      These amounts are represented net of related fair value hedging activity.  See Note 5 for more information.

OTTI Recognized In Net Income (Loss) And OCI

	For the Three						For the Nine
	Months Ended						Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
OTTI Recognized in Net Income (Loss)
Fixed maturity securities:
Corporate bonds	$	(16	)	$	-		$	(31	)	$	-
ABS		(1	)		(2	)		(6	)		(7	)
RMBS		(3	)		(1	)		(5	)		(4	)
CMBS		-			-			-			(1	)
CRE CDOs		-			(2	)		-			(2	)
Gross OTTI recognized in net income (loss)		(20	)		(5	)		(42	)		(14	)
Associated amortization of DAC, VOBA, DSI and DFEL		2			1			4			3
Net OTTI recognized in net income (loss), pre-tax	$	(18	)	$	(4	)		(38	)		(11	)
Portion of OTTI Recognized in OCI
Gross OTTI recognized in OCI	$	5		$	2		$	23		$	11
Change in DAC, VOBA, DSI and DFEL		-			-			(3	)		(1	)
Net portion of OTTI recognized in OCI, pre-tax	$	5		$	2		$	20		$	10

Payables For Collateral On Investments

	As of September 30, 2015				As of December 31, 2014
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
Collateral payable for derivative investments (1)	$	2,037	$	2,037	$	1,673	$	1,673
Securities pledged under securities lending agreements (2)		229		221		204		196
Securities pledged under repurchase agreements (3)		926		1,001		607		666
Investments pledged for Federal Home Loan Bank of
Indianapolis (“FHLBI”) (4)		2,105		3,014		1,925		3,151
Total payables for collateral on investments	$	5,297	$	6,273	$	4,409	$	5,686

(1)We obtain collateral based upon contractual provisions with our counterparties.  These agreements take into consideration the counterparties’ credit rating as compared to ours, the fair value of the derivative investments and specified thresholds that if exceeded result in the receipt of cash that is typically invested in cash and invested cash.  See Note 5 for additional information.

(2)Our pledged securities under securities lending agreements are included in fixed maturity AFS securities on our Consolidated Balance Sheets.  We generally obtain collateral in an amount equal to 102% and 105% of the fair value of the domestic and foreign securities, respectively.  We value collateral daily and obtain additional collateral when deemed appropriate.  The cash received in our securities lending program is typically invested in cash and invested cash or fixed maturity AFS securities.

(3)Our pledged securities under repurchase agreements are included in fixed maturity AFS securities on our Consolidated Balance Sheets.  We obtain collateral in an amount equal to 95% of the fair value of the securities, and our agreements with third parties contain contractual provisions to allow for additional collateral to be obtained when necessary.  The cash received in our repurchase program is typically invested in fixed maturity AFS securities.

(4)Our pledged investments for FHLBI are included in fixed maturity AFS securities and mortgage loans on real estate on our Consolidated Balance Sheets.  The FHLBI overcollateralization requirements for the assets that we pledge are generally 105% to 115% of the fair value for fixed maturity AFS securities and 155% to 175% of the unpaid principal balance for mortgage loans on real estate.  The cash received in these transactions is primarily invested in cash and invested cash or fixed maturity AFS securities.

Schedule Of Increase (Decrease) In Payables For Collateral On Investments

	For the Nine
	Months Ended
	September 30,
	2015		2014
Collateral payable for derivative investments	$	364	$	638
Securities pledged under securities lending agreements		25		13
Securities pledged under repurchase agreements		319		(325	)
Securities pledged for TALF		-		(36	)
Investments pledged for FHLBI		180		325
Total increase (decrease) in payables for collateral on investments	$	888	$	615

Schedule Of Securities Pledged By Contractual Maturity

	As of September 30, 2015
	Overnight and Continuous		Up to 30 Days		30 –  90 Days		Greater Than 90 Days		Total
Repurchase Agreements
ABS	$	-	$	-	$	500	$	-	$	500
Corporate bonds		-		-		275		151		426
Total		-		-		775		151		926
Securities Lending
Corporate bonds		227		-		-		-		227
Foreign government bonds		2		-		-		-		2
Total		229		-		-		-		229
Total secured borrowings	$	229	$	-	$	775	$	151	$	1,155
Gross amount of recognized liabilities for repurchase agreements and securities lending:									$	1,155
Amounts related to agreements not included in offsetting disclosures:									$	-