Investments (Tables)

6 Months Ended

Jun. 30, 2017

Investments [Abstract]

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

	As of June 30, 2017
	Amortized		Gross Unrealized							Fair
	Cost		Gains		Losses		OTTI (1)			Value
Fixed maturity securities:
Corporate bonds	$	74,934	$	6,108	$	500	$	(6	)	$	80,548
Asset-backed securities ("ABS")		996		46		12		(20	)		1,050
U.S. government bonds		536		44		2		-			578
Foreign government bonds		397		58		-		-			455
Residential mortgage-backed securities ("RMBS")		3,412		160		38		(18	)		3,552
Commercial mortgage-backed securities ("CMBS")		466		10		2		(2	)		476
Collateralized loan obligations ("CLOs")		697		4		2		(4	)		703
State and municipal bonds		4,172		850		12		-			5,010
Hybrid and redeemable preferred securities		584		85		27		-			642
Total fixed maturity securities		86,194		7,365		595		(50	)		93,014
Equity securities		262		19		6		-			275
Total AFS securities	$	86,456	$	7,384	$	601	$	(50	)	$	93,289

	As of December 31, 2016
	Amortized		Gross Unrealized							Fair
	Cost		Gains		Losses		OTTI (1)			Value
Fixed maturity securities:
Corporate bonds	$	73,275	$	4,754	$	970	$	(5	)	$	77,064
ABS		1,047		39		14		(13	)		1,085
U.S. government bonds		384		37		2		-			419
Foreign government bonds		449		58		1		-			506
RMBS		3,534		147		73		(6	)		3,614
CMBS		345		8		4		(1	)		350
CLOs		742		1		3		(4	)		744
State and municipal bonds		3,929		718		20		-			4,627
Hybrid and redeemable preferred securities		582		70		48		-			604
VIEs’ fixed maturity securities		200		-		-		-			200
Total fixed maturity securities		84,487		5,832		1,135		(29	)		89,213
Equity securities		260		19		4		-			275
Total AFS securities	$	84,747	$	5,851	$	1,139	$	(29	)	$	89,488

⁽¹⁾ Includes unrealized (gains) and 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	$	3,559	$	3,750
Due after one year through five years		16,854		18,006
Due after five years through ten years		15,756		16,742
Due after ten years		44,454		48,735
Subtotal		80,623		87,233
Structured securities (ABS, MBS, CLOs)		5,571		5,781
Total fixed maturity AFS securities	$	86,194	$	93,014

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

	As of June 30, 2017
	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	$	8,521		$	223	$	2,417		$	279	$	10,938		$	502
ABS		84			3		260			21		344			24
U.S. government bonds		172			2		-			-		172			2
RMBS		805			35		146			5		951			40
CMBS		92			2		8			2		100			4
CLOs		227			2		19			-		246			2
State and municipal bonds		132			7		47			5		179			12
Hybrid and redeemable
preferred securities		22			1		151			26		173			27
Total fixed maturity securities		10,055			275		3,048			338		13,103			613
Equity securities		10			4		15			1		25			5
Total AFS securities	$	10,065		$	279	$	3,063		$	339	$	13,128		$	618
Total number of AFS securities in an unrealized loss position															1,155

	As of December 31, 2016
	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	$	15,820		$	569	$	3,187		$	403	$	19,007		$	972
ABS		201			4		298			25		499			29
U.S. government bonds		18			2		-			-		18			2
Foreign government bonds		29			1		-			-		29			1
RMBS		989			58		392			23		1,381			81
CMBS		190			4		19			2		209			6
CLOs		259			3		25			-		284			3
State and municipal bonds		227			12		47			8		274			20
Hybrid and redeemable
preferred securities		76			4		143			44		219			48
Total fixed maturity securities		17,809			657		4,111			505		21,920			1,162
Equity securities		4			2		44			2		48			4
Total AFS securities	$	17,813		$	659	$	4,155		$	507	$	21,968		$	1,166
Total number of AFS securities in an unrealized loss position															1,744

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

	As of June 30, 2017
								Number
	Fair		Gross Unrealized					of
	Value		Losses		OTTI		Securities (1)
Less than six months	$	64	$	26	$	-			21
Six months or greater, but less than nine months		41		14		-			5
Nine months or greater, but less than twelve months		2		1		1			3
Twelve months or greater		253		110		9			51
Total	$	360	$	151	$	10			80

	As of December 31, 2016
								Number
	Fair		Gross Unrealized					of
	Value		Losses		OTTI		Securities (1)
Less than six months	$	174	$	52	$	2			19
Nine months or greater, but less than twelve months		1		1		-			2
Twelve months or greater		364		167		10			62
Total	$	539	$	220	$	12			83

⁽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 Six
	Months Ended						Months Ended
	June 30,						June 30,
	2017			2016			2017			2016
Balance as of beginning-of-period	$	393		$	413		$	430		$	382
Increases attributable to:
Credit losses on securities for which an
OTTI was not previously recognized		4			26			5			61
Credit losses on securities for which an
OTTI was previously recognized		-			2			3			7
Decreases attributable to:
Securities sold, paid down or matured		(7	)		(10	)		(48	)		(19	)
Balance as of end-of-period	$	390		$	431		$	390		$	431

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

	As of June 30, 2017
			Net
			Unrealized				OTTI in
	Amortized		Gain/(Loss)		Fair		Credit
	Cost		Position		Value		Losses
Corporate bonds	$	22	$	6	$	28	$	43
ABS		199		20		219		112
RMBS		292		18		310		188
CMBS		18		2		20		39
CLOs		11		4		15		5
State and municipal bonds		-		-		-		3
Total	$	542	$	50	$	592	$	390

	As of December 31, 2016
			Net
			Unrealized				OTTI in
	Amortized		Gain/(Loss)		Fair		Credit
	Cost		Position		Value		Losses
Corporate bonds	$	80	$	5	$	85	$	77
ABS		212		13		225		112
RMBS		332		6		338		194
CMBS		29		1		30		39
CLOs		11		4		15		5
State and municipal bonds		2		-		2		3
Total	$	666	$	29	$	695	$	430

Composition Of Current And Past Due Mortgage Loans On Real Estate

		As of				As of
	June 30,				December 31,
		2017				2016
Current		$	10,023			$	9,888
60 to 90 days past due			-				-
Greater than 90 days past due			2				2
Valuation allowance associated with impaired mortgage loans on real estate			(2	)			(2	)
Unamortized premium (discount)			-				1
Total carrying value		$	10,023			$	9,889

Schedule Of Impaired Mortgage Loans

		As of				As of
	June 30,				December 31,
		2017				2016
Number of impaired mortgage loans on real estate		2				2
Principal balance of impaired mortgage loans on real estate		$	7			$	7
Valuation allowance associated with impaired mortgage loans on real estate			(2	)			(2	)
Carrying value of impaired mortgage loans on real estate		$	5			$	5

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

	For the Three				For the Six
	Months Ended				Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Balance as of beginning-of-period	$	2	$	2	$	2	$	2
Additions		-		-		-		-
Charge-offs, net of recoveries		-		-		-		-
Balance as of end-of-period	$	2	$	2	$	2	$	2

Schedule Of Average Carrying Value Of Impaired Mortgage Loans

	For the Three				For the Six
	Months Ended				Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Average carrying value for impaired mortgage loans on real estate	$	5	$	6	$	5	$	6
Interest income recognized on impaired mortgage loans on real estate		-		-		-		-
Interest income collected on impaired mortgage loans on real estate		-		-		-		-

Credit Quality Indicators For Mortgage Loans

	As of June 30, 2017				As of December 31, 2016
				Debt-				Debt-
				Service				Service
	Carrying		% of	Coverage	Carrying		% of	Coverage
Loan-to-Value Ratio	Value		Total	Ratio	Value		Total	Ratio
Less than 65%	$	8,993	89.7%	2.22	$	8,709	88.0%	2.16
65% to 74%		892	8.9%	1.89		1,009	10.2%	1.87
75% to 100%		133	1.3%	0.82		166	1.7%	0.82
Greater than 100%		5	0.1%	1.04		5	0.1%	1.04
Total mortgage loans on real estate	$	10,023	100.0%		$	9,889	100.0%

Realized Gain (Loss) Related To Certain Investments

	For the Three						For the Six
	Months Ended						Months Ended
	June 30,						June 30,
	2017			2016			2017			2016
Fixed maturity AFS securities: (1)
Gross gains	$	3		$	7		$	11		$	61
Gross losses		(13	)		(65	)		(25	)		(163	)
Equity AFS securities:
Gross gains		-			2			1			2
Gross losses		-			(1	)		-			(1	)
Gain (loss) on other investments		(2	)		(3	)		(5	)		(63	)
Associated amortization of DAC, VOBA, DSI and DFEL
and changes in other contract holder funds		(6	)		(5	)		(13	)		(8	)
Total realized gain (loss) related to certain investments, pre-tax	$	(18	)	$	(65	)	$	(31	)	$	(172	)

⁽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 Six
	Months Ended						Months Ended
	June 30,						June 30,
	2017			2016			2017			2016
OTTI Recognized in Net Income (Loss)
Fixed maturity securities:
Corporate bonds	$	(4	)	$	(26	)	$	(5	)	$	(62	)
ABS		-			(1	)		(1	)		(3	)
RMBS		-			(1	)		(1	)		(3	)
State and municipal bonds		-			-			(1	)		-
Total fixed maturity securities		(4	)		(28	)		(8	)		(68	)
Equity securities		-			(1	)		-			(1	)
Gross OTTI recognized in net income (loss)		(4	)		(29	)		(8	)		(69	)
Associated amortization of DAC, VOBA, DSI and DFEL		-			1			-			5
Net OTTI recognized in net income (loss), pre-tax	$	(4	)	$	(28	)	$	(8	)	$	(64	)
Portion of OTTI Recognized in OCI
Gross OTTI recognized in OCI	$	-		$	10		$	-		$	36
Change in DAC, VOBA, DSI and DFEL		-			(2	)		-			(8	)
Net portion of OTTI recognized in OCI, pre-tax	$	-		$	8		$	-		$	28

Payables For Collateral On Investments

	As of June 30, 2017				As of December 31, 2016
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
Collateral payable for derivative investments (1)	$	1,054	$	1,054	$	894	$	894
Securities pledged under securities lending agreements (2)		208		200		216		209
Securities pledged under repurchase agreements (3)		540		587		535		589
Investments pledged for Federal Home Loan Bank of
Indianapolis (“FHLBI”) (4)		3,150		4,654		3,350		4,947
Total payables for collateral on investments	$	4,952	$	6,495	$	4,995	$	6,639

⁽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 collateral requirements are generally 105% to 115% of the fair value for fixed maturity AFS securities and 155% to 175% of the fair value 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 Six
	Months Ended
	June 30,
	2017			2016
Collateral payable for derivative investments	$	160		$	1,617
Securities pledged under securities lending agreements		(8	)		7
Securities pledged under repurchase agreements		5			16
Investments pledged for FHLBI		(200	)		-
Total increase (decrease) in payables for collateral on investments	$	(43	)	$	1,640

Schedule Of Securities Pledged By Contractual Maturity

	As of June 30, 2017
	Overnight and Continuous		Up to 30 Days		30 -  90 Days		Greater Than 90 Days		Total
Repurchase Agreements
Corporate bonds	$	-	$	100	$	290	$	150	$	540
Total		-		100		290		150		540
Securities Lending
Corporate bonds		208		-		-		-		208
Total		208		-		-		-		208
Total gross secured borrowings	$	208	$	100	$	290	$	150	$	748

	As of December 31, 2016
	Overnight and Continuous		Up to 30 Days		30 -  90 Days		Greater Than 90 Days		Total
Repurchase Agreements
Corporate bonds	$	-	$	-	$	389	$	146	$	535
Total		-		-		389		146		535
Securities Lending
Corporate bonds		212		-		-		-		212
Foreign government bonds		4		-		-		-		4
Total		216		-		-		-		216
Total gross secured borrowings	$	216	$	-	$	389	$	146	$	751