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ETF</titleOfClass><cusip>464286871</cusip><value>19668</value><shrsOrPrnAmt><sshPrnamt>988</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>988</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES INC MSCI JPN ETF NEW</nameOfIssuer><titleOfClass>MSCI JPN ETF NEW</titleOfClass><cusip>46434G822</cusip><value>16478153</value><shrsOrPrnAmt><sshPrnamt>219398</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>219398</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES INC MSCI MEXICO ETF</nameOfIssuer><titleOfClass>MSCI MEXICO 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ETF</titleOfClass><cusip>46434G772</cusip><value>319183491</value><shrsOrPrnAmt><sshPrnamt>5560688</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>5560688</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR CONV BD ETF</nameOfIssuer><titleOfClass>CONV BD ETF</titleOfClass><cusip>46435G102</cusip><value>143397394</value><shrsOrPrnAmt><sshPrnamt>1593060</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>1593060</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR CORE S&amp;P MCP ETF</nameOfIssuer><titleOfClass>CORE S&amp;P MCP 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ETF</titleOfClass><cusip>46429B671</cusip><value>76949473</value><shrsOrPrnAmt><sshPrnamt>1398112</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>1398112</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR MSCI EURO FL ETF</nameOfIssuer><titleOfClass>MSCI EURO FL ETF</titleOfClass><cusip>464289180</cusip><value>122608336</value><shrsOrPrnAmt><sshPrnamt>3873950</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>3873950</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR MSCI UK ETF NEW</nameOfIssuer><titleOfClass>MSCI UK ETF NEW</titleOfClass><cusip>46435G334</cusip><value>26446551</value><shrsOrPrnAmt><sshPrnamt>665838</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>665838</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR MSCI USA MMENTM</nameOfIssuer><titleOfClass>MSCI USA MMENTM</titleOfClass><cusip>46432F396</cusip><value>36357873</value><shrsOrPrnAmt><sshPrnamt>151187</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>151187</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR MSCI USA QLT FCT</nameOfIssuer><titleOfClass>MSCI USA QLT FCT</titleOfClass><cusip>46432F339</cusip><value>44812088</value><shrsOrPrnAmt><sshPrnamt>245068</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>245068</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR RUSSELL 2000 ETF</nameOfIssuer><titleOfClass>RUSSELL 2000 ETF</titleOfClass><cusip>464287655</cusip><value>3988231</value><shrsOrPrnAmt><sshPrnamt>18482</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>18482</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ITAU UNIBANCO HLDG S A</nameOfIssuer><titleOfClass>SPON ADR REP 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INDL</nameOfIssuer><titleOfClass>INDL</titleOfClass><cusip>81369Y704</cusip><value>2278004</value><shrsOrPrnAmt><sshPrnamt>15442</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>15442</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SELECT SECTOR SPDR TR SBI CONS DISCR</nameOfIssuer><titleOfClass>SBI CONS DISCR</titleOfClass><cusip>81369Y407</cusip><value>2653599</value><shrsOrPrnAmt><sshPrnamt>12210</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>DFND</investmentDiscretion><otherManager>1</otherManager><votingAuthority><Sole>0</Sole><Shared>0</Shared><None>12210</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SELECT SECTOR SPDR TR SBI CONS STPLS</nameOfIssuer><titleOfClass>SBI CONS 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