Commitments, contingencies, and guarantees (Tables)

3 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Balance Sheet Locations, Fair Values In An Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments

The following table presents the balance sheet locations, fair values of derivative instruments in an asset or (liability) position, and notional values/payment provisions of our derivative instruments:

				March 31, 2018							December 31, 2017
	Consolidated Balance Sheet Location	Fair Value					Notional Value/ Payment Provision		Fair Value					Notional Value/ Payment Provision
(in millions of U.S. dollars)		Derivative Asset		Derivative (Liability)					Derivative Asset		Derivative (Liability)
Investment and embedded derivative instruments:
Foreign currency forward contracts	OA / (AP)	$	19	$	(17	)	$	2,125	$	14	$	(27	)	$	2,064
Cross-currency swaps	OA / (AP)	—		—			45		—		—			45
Options/Futures contracts on notes and bonds	OA / (AP)	6		(12		)	1,093		4		(3		)	1,007
Convertible securities (1)	FM AFS / ES	7		—			8		5		—			6
		$	32	$	(29	)	$	3,271	$	23	$	(30	)	$	3,122
Other derivative instruments:
Futures contracts on equities(2)	OA / (AP)	$	71	$	—		$	1,625	$	—	$	(21	)	$	1,553
Other	OA / (AP)	7		(2		)	326		1		(2		)	75
		$	78	$	(2	)	$	1,951	$	1	$	(23	)	$	1,628
GLB (3)	(AP) / (FPB)	$	—	$	(529	)	$	1,175	$	—	$	(550	)	$	1,083

⁽¹⁾  Includes fair value of embedded derivatives.

⁽²⁾  Related to GMDB and GLB blocks of business.

⁽³⁾  Includes both future policy benefits reserves and fair value derivative adjustment. Note that the payment provision related to GLB is the net amount at risk. The concept of a notional value does not apply to the GLB reinsurance contracts.

Transfer of Certain Financial Assets Accounted for as Secured Borrowings

The following table presents the carrying value of collateral held under securities lending agreements by investment category and remaining contractual maturity of the underlying agreements:

	Remaining contractual maturity
	March 31		December 31
	2018		2017
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	826	$	828
U.S. Treasury and agency	40		36
Foreign	869		712
Corporate securities	8		—
Mortgage-backed securities	59		74
Equity securities	237		87
	$	2,039	$	1,737
Gross amount of recognized liability for securities lending payable	$	2,039	$	1,737

The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:

	Remaining contractual maturity
	March 31, 2018						December 31, 2017
	30-90 Days		Greater than 90 Days		Total		Up to 30 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
U.S. Treasury and agency	$	—	$	243	$	243	$	9	$	230	$	239
Mortgage-backed securities	486		731		1,217		369		826		1,195
	$	486	$	974	$	1,460	$	378	$	1,056	$	1,434
Gross amount of recognized liabilities for repurchase agreements					$	1,412					$	1,408
Difference (1)					$	48					$	26

Net Realized Gains (Losses) Of Derivative Instrument Activity In Consolidated Statement Of Operations

The following table presents net realized gains (losses) related to derivative instrument activity in the Consolidated statements of operations:

	Three Months Ended
	March 31
(in millions of U.S. dollars)	2018		2017
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	4	$	14
All other futures contracts and options	13		(8		)
Total investment and embedded derivative instruments	$	17	$	6
GLB and other derivative instruments:
GLB (1)	$	38	$	93
Futures contracts on equities (2)	22		(74		)
Other	2		2
Total GLB and other derivative instruments	$	62	$	21
	$	79	$	27

⁽¹⁾  Excludes foreign exchange gains (losses) related to GLB.

⁽²⁾  Related to GMDB and GLB blocks of business.