Fidelity & Guaranty Life 10-Q 5 Aug 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	FGL
Entity Registrant Name	Fidelity & Guaranty Life
Entity Central Index Key	1,585,064
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		58,762,826

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Investments:
Fixed maturity securities, available-for-sale, at fair value (amortized cost: June 30, 2015 - $17,630; September 30, 2014 - $16,692)	$ 17,965	$ 17,435
Equity securities, available-for-sale, at fair value (amortized cost: June 30, 2015 - $564; September 30, 2014 - $679)	583	698
Derivative investments	220	296
Commercial mortgage loans	405	136
Other invested assets	218	237
Total investments	19,391	18,802
Related party loans	77	113
Cash and cash equivalents	654	576
Accrued investment income	164	182
Reinsurance recoverable	3,642	3,665
Intangibles, net	808	515
Deferred tax assets	200	137
Other assets	223	163
Total assets	25,159	24,153
LIABILITIES AND SHAREHOLDERS' EQUITY
Contractholder funds	17,704	16,464
Future policy benefits	3,465	3,504
Liability for policy and contract claims	1,325	1,331
Funds withheld for reinsurance liabilities	60	58
Debt	300	300
Other liabilities	746	837
Total liabilities	$ 23,600	$ 22,494
Commitments and contingencies
Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued at June 30, 2015)	$ 0	$ 0
Common stock ($.01 par value, 500,000,000 shares authorized, 58,762,826 issued and outstanding at June 30, 2015; 58,442,721 shares issued and outstanding at September 30, 2014)	1	1
Additional paid-in capital	711	702
Retained earnings	683	607
Accumulated other comprehensive income	175	349
Treasury Stock, at cost (512,391 shares at June 30, 2015; no shares at September 30, 2014)	(11)	0
Total shareholders' equity	1,559	1,659
Total liabilities and shareholders' equity	$ 25,159	$ 24,153

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	58,762,826	58,442,721
Common stock, shares outstanding	58,762,826	58,442,721
Treasury stock, shares	512,391	0
Available-for-sale debt securities, amortized cost basis	$ 17,630	$ 16,692
Available-for-sale equity securities, amortized cost basis	$ 564	$ 679

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Premiums	$ 17	$ 13	$ 43	$ 41
Net investment income	212	191	628	559
Net investment gains	74	145	75	267
Insurance and investment product fees and other	23	19	65	51
Total revenues	326	368	811	918
Benefits and expenses:
Benefits and other changes in policy reserves	78	242	474	638
Acquisition and operating expenses, net of deferrals	26	23	83	81
Amortization of intangibles	88	15	97	49
Total benefits and expenses	192	280	654	768
Operating income	134	88	157	150
Interest expense	(6)	(6)	(18)	(17)
Income before income taxes	128	82	139	133
Income tax expense	42	25	51	9
Net income	$ 86	$ 57	$ 88	$ 124
Net income per common share:
Basic (in dollars per share)	$ 1.48	$ 0.97	$ 1.51	$ 2.25
Diluted (in dollars per share)	$ 1.48	$ 0.97	$ 1.51	$ 2.24
Weighted average common shares used in computing net income per common share:
Basic (shares)	58,058,247	58,270,822	58,125,850	55,194,513
Diluted (shares)	58,241,215	58,474,938	58,327,483	55,329,523
Cash dividend per common share	$ 0.065	$ 0.065	$ 0.195	$ 1.045
Total other-than-temporary impairments	$ (4)	$ (1)	$ (65)	$ (1)
Portion of other-than-temporary impairments included in other comprehensive income	0	0	0	0
Net other-than-temporary impairments	(4)	(1)	(65)	(1)
Gains (losses) on derivative instruments	27	74	90	177
Other realized investment gains (losses)	$ 51	$ 72	$ 50	$ 91

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 86	$ 57	$ 88	$ 124
Unrealized investment gains (losses):
Change in unrealized investment (losses) gain before reclassification adjustment	(524)	353	(424)	727
Net reclassification adjustment for (gains) losses included in net income	(47)	(72)	15	(90)
Changes in unrealized investment (losses) gains after reclassification adjustment	(571)	281	(409)	637
Adjustments to intangible assets	212	(86)	141	(191)
Changes in deferred income tax asset/liability	127	(68)	94	(156)
Net changes to derive comprehensive (loss) income for the period	(232)	127	(174)	290
Comprehensive (loss) income, net of tax	$ (146)	$ 184	$ (86)	$ 414

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY Statement - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital/Contributed Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning Balance at Sep. 30, 2013	$ 1,139	$ 0	$ 527	$ 499	$ 113	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(51)			(51)
Stock Split	0	1	(1)
Proceeds from issuance of common stock, net of transaction fees	173		173
Net income	124			124
Unrealized investment gains, net	290				290
Stock compensation	2		2
Ending Balance at Jun. 30, 2014	1,677	1	701	572	403	0
Beginning Balance at Sep. 30, 2014	1,659	1	702	607	349
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares purchased	(11)					(11)
Dividends	(12)			(12)
Net income	88
Unrealized investment gains, net	(174)				(174)
Stock compensation	9		9
Ending Balance at Jun. 30, 2015	$ 1,559	$ 1	$ 711	$ 683	$ 175	$ (11)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 88	$ 124
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	9	12
Amortization	(37)	(23)
Deferred income taxes	31	(25)
Interest credited/index credit to contractholder account balances	363	541
Net recognized (gains) on investments and derivatives	(75)	(267)
Charges assessed to contractholders for mortality and administration	(50)	(33)
Deferred policy acquisition costs, net of amortization	(151)	(124)
Changes in operating assets and liabilities:
Reinsurance recoverable	13	(13)
Future policy benefits	(39)	(41)
Funds withheld from reinsurers	(13)	(90)
Collateral posted	(32)	80
Other assets and other liabilities	0	34
Net cash provided by operating activities	107	175
Cash flows from investing activities:
Proceeds from commercial mortgage loans	33	0
Costs of commercial mortgage loans	(302)	0
Related party loans	36	(5)
Capital expenditures	(6)	(7)
Net cash (used in) investing activities	(899)	(1,220)
Cash flows from financing activities:
Treasury stock	(11)	0
Proceeds from issuance of common stock, net of transaction fees	0	176
Dividends paid	(12)	(51)
Contractholder account deposits	2,046	1,773
Contractholder account withdrawals	(1,153)	(1,239)
Net cash provided by financing activities	870	659
Change in cash & cash equivalents	78	(386)
Cash & cash equivalents, beginning of period	576	1,204
Cash & cash equivalents, end of period	654	818
Supplemental disclosures of cash flow information
Interest paid	10	19
Taxes paid	38	24
Available-for-sale Securities
Cash flows from investing activities:
Proceeds from sale, maturity and collection of investments	3,796	4,402
Payments to acquire investments	(4,557)	(5,628)
Derivative and other
Cash flows from investing activities:
Proceeds from sale, maturity and collection of investments	335	359
Payments to acquire investments	$ (234)	$ (341)

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Fidelity & Guaranty Life (formerly, Harbinger F&G, LLC (“HFG”)) (“FGL” and, collectively with its subsidiaries, the “Company”) is a subsidiary of HRG Group, Inc. (formerly, Harbinger Group Inc. (“HRG”)). The accompanying unaudited consolidated financial statements are prepared in accordance with United States of America generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for the Securities and Exchange Commission (“SEC”) Quarterly Report on Form 10-Q, including Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. Therefore, the information contained in the Notes to Consolidated Financial Statements included in Fidelity & Guaranty Life and Subsidiaries' Annual Report on Form 10-K, for the year ended September 30, 2014 (“2014 Form 10-K”), should be read in connection with the reading of these interim unaudited consolidated financial statements. FGL markets products through its wholly-owned insurance subsidiaries, Fidelity & Guaranty Life Insurance Company (“FGL Insurance”) and Fidelity & Guaranty Life Insurance Company of New York (“FGL NY Insurance”), which together are licensed in all fifty states and the District of Columbia. On April 6, 2015, HRG Group, Inc., the parent of the Company, announced that it is exploring strategic alternatives for Fidelity & Guaranty Life regarding their FGL holdings. Following this announcement, FGL has begun a strategic process involving a potential sale of the Company. There can be no assurance that the exploration of strategic alternatives will result in a transaction or that any transaction, if pursued, will be consummated. The exploration of strategic alternatives may be terminated at any time and without notice. Neither HRG Group nor any of its affiliates - including FGL - will disclose developments with respect to this process unless and until the FGL Board of Directors has approved a specific transaction or course of action. Certain GAAP policies, which significantly affect the determination of financial position, results of operations and cash flows, are summarized in our 2014 Form 10-K. In the opinion of management, these statements include all normal recurring adjustments necessary for a fair presentation of the Company’s results. Operating results for the three and nine months ended June 30, 2015 , are not necessarily indicative of the results that may be expected for the full year ending September 30, 2015 . All material inter-company accounts and transactions have been eliminated in consolidation. Amounts reclassified out of other comprehensive income are reflected in net investment gains in the Condensed Consolidated Statements of Operations . Dollar amounts in the accompanying sections are presented in millions, unless otherwise noted.

Significant Accounting Policies

Significant Accounting Policies and Practices	9 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies and Practices	Significant Accounting Policies and Practices Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and all other entities in which FGL has a controlling financial interest (none of which are variable interest entities). All intercompany accounts and transactions have been eliminated in consolidation. Recent Accounting Pronouncements Investments in Qualified Affordable Housing Projects In January 2014, the Financial Accounting Standards Board ("FASB") issued amended guidance (ASU 2014-01, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Project ) which allows investors in Low Income Housing Tax Credit (“LIHTC”) programs that meet specified conditions to present the net tax benefits (net of the amortization of the cost of the investment) within income tax expense. The cost of the investments that meet the specified conditions will be amortized in proportion to (and over the same period as) the total expected tax benefits, including the tax credits and other tax benefits, as they are realized on the tax return. The guidance is required to be applied retrospectively, if investors elect the proportional amortization method. However, if investors have existing LIHTC investments accounted for under the effective-yield method at adoption, they may continue to apply that method for those existing investments. The Company early adopted this guidance effective October 1, 2014 for all new LIHTC investments made subsequent to that date. Prior LIHTC investments will continue to be accounted for under the effective-yield method. This adoption did not have a material effect on the Company’s consolidated financial position and results of operations. Share-Based Payments When a Performance Target is achieved after the Requisite Service Period In June 2014, the FASB issued new guidance on Stock Compensation (ASU 2014-12, Accounting for Share-Based Payments When the Term of an Award Provide that a Performance Target Could Be Achieved after the Requisite Service Period ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. The new guidance requires performance targets that affect vesting and that could be achieved after the requisite service period to be treated as performance conditions. Such performance targets would not be included in the grant-date fair value calculation of the award, rather compensation cost should be recorded when it is probable the performance target will be reached and should represent the compensation cost attributable to period(s) for which the requisite service has already been rendered. This standard may be early adopted and the amendments may be applied either prospectively or retrospectively. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements. Amendments to the Consolidation Analysis In February 2015, the FASB issued amended consolidation guidance (ASU 2015-02, Amendments to the Consolidation Analysis ), effective for fiscal years beginning after December 15, 2015. The amended guidance changes the consolidation analysis of reporting entities with variable interest entity ("VIE") relationships by i) modifying the criteria used to evaluate whether limited partnerships and similar legal entities are VIEs or voting interest entities and revising the primary beneficiary determination of a VIE, ii) eliminating the specialized consolidation model and guidance for limited partnerships thereby removing the presumption that a general partner should consolidate a limited partnership, iii) reducing the criteria in the variable interest model contained in Accounting Standards Codification Topic 810, Consolidation , that is used to evaluate whether the fees paid to a decision maker or service provider represents a variable interest, and iv) exempting reporting entities from consolidating money market funds that operate in accordance with Rule 2a-7 of the Investment Company Act of 1940. This standard may be early adopted and the amendments in this Update may be applied with a modified retrospective approach or retrospective approach. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements. Presentation of Debt Issuance Costs In April 2015, the FASB issued amended guidance (ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30 ), Simplifying the Presentation of Debt Issuance Costs), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. The amended guidance requires debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt discounts or premiums. The cost of issuing debt will no longer be recorded as a separate asset, except when incurred before the receipt of the funding from the associated debt liability. Instead, debt issuance costs will be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability, and the costs will be amortized to interest expense using the effective interest method. This standard may be early adopted. The amendments in this Update are required to be applied retrospectively to all prior periods presented in the financial statements. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements. Accounting for Fees Paid in Cloud Computing Arrangements In April 2015, the FASB issued amended guidance (ASU 2015-05, Customer's Accounting for Fees Paid in a Cloud Computing Arrangement ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. Current GAAP does not include explicit guidance regarding a customer's accounting for fees paid in a cloud computing arrangement, which may include software as a service, platform as a service, infrastructure as a service, and other similar hosting arrangements. The amended guidance addresses whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This amended standard may be early adopted. The amendments in this Update may be applied retrospectively to all prior periods presented in the financial statements or prospectively to all arrangements entered into or materially modified after the effective date. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements. Investments That Calculate Net Asset Value per Share In May 2015, the FASB issued amended guidance (ASU 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. Current GAAP requires that investments for which fair value is measured at net asset value (or its equivalent) using the practical expedient in Topic 820 be categorized within the fair value hierarchy using criteria that differ from the criteria used to categorize other fair value measurements within the hierarchy. Currently, investments valued using the practical expedient are categorized within the fair value hierarchy on the basis of whether the investment is redeemable with the investee at net asset value on the measurement date, never redeemable with the investee at net asset value, or redeemable with the investee at net asset value at a future date. For investments that are redeemable with the investee at a future date, a reporting entity must take into account the length of time until those investments become redeemable to determine the classification within the fair value hierarchy. There is diversity in practice related to how certain investments measured at net asset value with redemption dates in the future (including periodic redemption dates) are categorized within the fair value hierarchy. Under the amendments in this Update, investments for which fair value is measured at net asset value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Removing those investments from the fair value hierarchy not only eliminates the diversity in practice resulting from the way in which investments measured at net asset value per share (or its equivalent) with future redemption dates are classified, but also ensures that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share (or its equivalent), but for which the practical expedient is not applied will continue to be included in the fair value hierarchy. The amendments in this Update are required to be applied retrospectively to all prior periods presented in the financial statements. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements.

Significant Risks and Uncertain

Significant Risks and Uncertainties	9 Months Ended
	Jun. 30, 2015
Risks and Uncertainties [Abstract]
Significant Risks and Uncertainties	Significant Risks and Uncertainties Use of Estimates and Assumptions The preparation of the Company’s Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions used. Concentrations of Financial Instruments As of June 30, 2015 and September 30, 2014 , the Company’s most significant investment in one industry, excluding United States ("U.S.") Government securities, was its investment securities in the banking industry with a fair value of $1,982 or 10% and $2,240 or 12% , respectively, of the invested assets portfolio. The Company’s holdings in this industry include investments in 78 different issuers with the top ten investments accounting for 40% of the total holdings in this industry. As of June 30, 2015 , the Company had investments in 1 issuer, Wells Fargo & Company , that exceeded 10% of shareholders' equity with a total fair value of $175 or 1% of the invested assets portfolio. As of September 30, 2014 , the Company had investments in 2 issuers, Wells Fargo & Company and J.P. Morgan Chase, that exceeded 10% of shareholders' equity with a total fair value of $365 or 2% of the invested assets portfolio. Additionally, the Company’s largest concentration in any single issuer as of June 30, 2015 and September 30, 2014 was in Wells Fargo & Company which had a fair value of $175 or 1% and $185 or 1% of the invested assets portfolio, respectively. Concentrations of Financial and Capital Markets Risk The Company is exposed to financial and capital markets risk, including changes in interest rates and credit spreads which can have an adverse effect on the Company’s results of operations, financial condition and liquidity. The Company expects to continue to face challenges and uncertainties that could adversely affect its results of operations and financial condition. The Company’s exposure to interest rate risk relates primarily to the market price and cash flow variability associated with changes in interest rates. A rise in interest rates, in the absence of other countervailing changes, will decrease the net unrealized gain position of the Company’s investment portfolio and, if long-term interest rates rise dramatically within a six to twelve month time period, certain of the Company’s products may be exposed to disintermediation risk. Disintermediation risk refers to the risk that policyholders may surrender their contracts in a rising interest rate environment, requiring the Company to liquidate assets in an unrealized loss position. This risk is mitigated to some extent by the high level of surrender charge protection provided by the Company’s products. Concentration of Reinsurance Risk The Company has a significant concentration of reinsurance with Wilton Reassurance Company (“Wilton Re”) and Front Street Re (Cayman) Ltd. ("FSRCI" - an affiliate) that could have a material impact on the Company’s financial position in the event that Wilton Re or FSRCI fail to perform their obligations under the various reinsurance treaties. Wilton Re is a wholly owned subsidiary of Canada Pension Plan Investment Board ("CPPIB"). CPPIB has an AAA credit rating from Standard & Poor's Ratings Services ("S&P") as of June 30, 2015 . As of June 30, 2015 , the net amount recoverable from Wilton Re was $1,498 and the net amount recoverable from FSRCI was $1,259 . The coinsurance agreement with FSRCI is on a funds withheld basis. The Company monitors both the financial condition of individual reinsurers and risk concentration arising from similar geographic regions, activities and economic characteristics of reinsurers to reduce the risk of default by such reinsurers.

Investments

Investments	9 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investments	1.25 1.00 - 1.25 N/A(a) June 30, 2015 LTV Ratios: Less than 50% $ 93 $ — $ 1 $ 94 23 % $ 94 23 % 50% to 60% 129 20 — 149 37 % 149 37 % 60% to 75% 162 — — 162 40 % 162 40 % Commercial mortgage loans $ 384 $ 20 $ 1 $ 405 100 % $ 405 100 % September 30, 2014 LTV Ratios: Less than 50% $ 44 $ — $ 1 $ 45 33 % $ 45 33 % 50% to 60% 20 — — 20 15 % 20 15 % 60% to 75% 71 — — 71 52 % 71 52 % Commercial mortgage loans $ 135 $ — $ 1 $ 136 100 % $ 136 100 % (a) N/A - Current DSC ratio not available. The Company recognizes a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At June 30, 2015 , we had no CMLs that were delinquent in principal or interest payments. The following provides the current and past due composition of our CMLs: June 30, 2015 September 30, 2014 Current to 30 days $ 405 $ 136 Past due — — Total carrying value $ 405 $ 136 A Troubled Debt Restructuring ("TDR") is a situation where we have granted a concession to a borrower for economic or legal reasons related to the borrower's financial difficulties that we would not otherwise consider. A mortgage loan that has been granted new terms, including workout terms as described previously, would be considered a TDR if it meets conditions that would indicate a borrower is experiencing financial difficulty and the new terms constitute a concession on our part. We analyze all loans where we have agreed to workout terms and all loans that we have refinanced to determine if they meet the definition of a TDR. We consider the following factors in determining whether or not a borrower is experiencing financial difficulty: • borrower is in default, • borrower has declared bankruptcy, • there is growing concern about the borrower's ability to continue as a going concern, • borrower has insufficient cash flows to service debt, • borrower's inability to obtain funds from other sources, and • there is a breach of financial covenants by the borrower. If the borrower is determined to be in financial difficulty, we consider the following conditions to determine if the borrower was granted a concession: • assets used to satisfy debt are less than our recorded investment, • interest rate is modified, • maturity date extension at an interest rate less than market rate, • capitalization of interest, • delaying principal and/or interest for a period of three months or more, and • partial forgiveness of the balance or charge-off. Mortgage loan workouts, refinances or restructures that are classified as TDRs are individually evaluated and measured for impairment. As of June 30, 2015 , our CML portfolio had no impairments, modifications or troubled debt restructuring. During the third quarter of 2015, we amended our Investment Management Agreement with CorAmerica, an affiliate of the Company, to include the servicing of our Commercial Mortgage Loan portfolio. FGL's affiliation with CorAmerica is detailed in "Note 14. Related Party Transactions" to the Company's Consolidated Financial Statements. Consequently, servicing of the portfolio was transferred from the prior servicer, Principal Real Estate Investors ("Principal"), to CorAmerica during the period (discussed in "Note 6. Fair Value of Financial Instruments" to the Company's Consolidated Financial Statements). Net investment income The major sources of “ Net investment income ” on the accompanying Condensed Consolidated Statements of Operations were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Fixed maturity available-for-sale securities $ 199 $ 182 $ 589 $ 532 Equity available-for-sale securities 8 7 26 16 Commercial mortgage loans 3 1 7 2 Related party loans 2 2 5 5 Other investments 5 4 16 16 Gross investment income 217 196 643 571 Investment expense (5 ) (5 ) (15 ) (12 ) Net investment income $ 212 $ 191 $ 628 $ 559 For mortgage-backed securities, included in the fixed maturity available-for-sale (“AFS”) securities portfolios, the Company recognizes income using a constant effective yield based on anticipated prepayments and the estimated economic life of the securities. When actual prepayments differ significantly from originally anticipated prepayments, the effective yield is recalculated prospectively to reflect actual payments to date plus anticipated future payments. Any adjustments resulting from changes in effective yield are reflected in “Net investment income’’. During third quarter 2015, we received notice that we are entitled to receive a settlement as a result of our ownership of certain residential mortgage-backed securities that were issued by Countrywide, an entity which was later acquired by Bank of America. We have estimated our expected recovery from this settlement to be between $15 and $20 , with a best estimate of $18 . In compliance with our accounting policy described above, we updated our cash flow projections for our best estimate of the recovery as of June 30, 2015 and will accrete it prospectively over the remaining life of the related securities through our effective yield and recognize the impact within "Net investment income". This change to our cash flow projections had an immaterial impact on our "Net investment income" during the third quarter of 2015. The weighted average remaining life on the affected securities is approximately 6 years. Net investment gains Details underlying “ Net investment gains ” reported on the accompanying Condensed Consolidated Statements of Operations were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net realized gains on fixed maturity available-for-sale securities $ 47 $ 73 $ 24 $ 93 Realized gains (losses) on equity securities 1 — — (1 ) Net realized gains on securities 48 73 24 92 Realized gains on certain derivative instruments 37 57 118 157 Unrealized (losses) gains on certain derivative instruments (44 ) 37 (90 ) 73 Change in fair value of reinsurance related embedded derivative 36 (21 ) 52 (54 ) Change in fair value of other derivatives and embedded derivatives (2 ) 1 10 1 Realized gains on derivatives and embedded derivatives 27 74 90 177 Realized losses on other invested assets (1 ) (2 ) (39 ) (2 ) Net investment gains $ 74 $ 145 $ 75 $ 267 Realized gains and losses on the sale of securities are determined on the specific identification method. For the three and nine months ended June 30, 2015 , principal repayments, calls, tenders, and proceeds from the sale of fixed maturity available-for-sale securities totaled $1,864 and $3,670 , gross gains on such sales totaled $53 and $73 , and gross losses totaled $6 and $49 , respectively. For the three and nine months ended June 30, 2014 , principal repayments, calls, tenders, and proceeds from the sale of fixed maturity available-for-sale securities, totaled $1,725 and $4,352 , gross gains on such sales totaled $75 and $97 , and gross losses totaled $2 and $4 , respectively. Unconsolidated Variable Interest Entities The Company owns investments in VIEs that are not consolidated within the Company’s financial statements. VIEs do not have sufficient equity to finance their own activities without additional financial support and certain of its investors lack certain characteristics of a controlling financial interest. These VIEs are not consolidated in the Company’s financial statements for the following reasons: 1) FGL Insurance does not have any voting rights or notice rights; 2) the Company does not have any rights to remove the investment manager; and 3) the Company was not involved in the design of the investment. These characteristics indicate that FGL Insurance lacks the ability to direct the activities, or otherwise exert control, of the VIEs and is not considered the primary beneficiary of them. FGL Insurance participates in loans to third parties originated by Salus. Salus is an affiliated, limited liability company indirectly owned by HRG that originates senior secured asset-based loans to unaffiliated third-party borrowers. FGL Insurance also participates in CLOs managed by Salus and owns preferred equity in Salus within the funds withheld portfolio of the FSRCI treaty. Because Salus is not consolidated, the Company’s maximum exposure to loss as a result of its investments in Salus is limited to the carrying value of its investments in Salus which totaled $263 and $304 as of June 30, 2015 and September 30, 2014 , respectively. FGL’s investments in Salus are detailed in “Note 14. Related Party Transactions” to the Company’s Consolidated Financial Statements. FGL Insurance also participates in an investment managed by Fifth Street Management, LLC (“Fifth Street”). Fifth Street Senior Loan Fund II (the “Fund”) invests in loans selected and/or originated by Fifth Street. Fifth Street is an unaffiliated, limited liability company that originates financing for the Fund’s investment activity through CLOs. The Company’s maximum exposure to loss as a result of its investments in Fifth Street is limited to the carrying value of its investments in Fifth Street which totaled $40 and $30 at June 30, 2015 and September 30, 2014 , respectively. During the quarter, FGL invested in an unaffiliated limited partnership fund that will invest in consumer whole loans, asset-backed investments, high yield, private investments, bank portfolio liquidations, bridge financing and other investments. The $35 commitment is expected to fund over the course of the next 3 years . FGL also executed a commitment of $75 to purchase common shares in an unaffiliated private business development company ("BDC"). The BDC invests in secured and unsecured debt and equity securities of middle market companies in the United States. Due to the voting structure of the transaction, FGL does not have voting power. The initial capital call will be during the summer of 2015, with the remaining commitment expected to fund through 2017." id="sjs-B4">Investments The Company’s debt and equity securities investments have been designated as available-for-sale and are carried at fair value with unrealized gains and losses included in accumulated other comprehensive income (“AOCI”) net of associated adjustments for value of business acquired (“VOBA”), deferred acquisition costs (“DAC”) and deferred income taxes. The Company’s consolidated investments at June 30, 2015 and September 30, 2014 are summarized as follows: June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for sale securities Asset-backed securities $ 2,164 $ 5 $ (24 ) $ 2,145 $ 2,145 Commercial mortgage-backed securities 814 14 (7 ) 821 821 Corporates 9,362 346 (173 ) 9,535 9,535 Equities 564 23 (4 ) 583 583 Hybrids 1,224 46 (29 ) 1,241 1,241 Municipals 1,378 92 (20 ) 1,450 1,450 Residential mortgage-backed securities 2,100 101 (25 ) 2,176 2,176 U.S. Government 588 9 — 597 597 Total available-for-sale securities 18,194 636 (282 ) 18,548 18,548 Derivative investments 212 47 (39 ) 220 220 Commercial mortgage loans 405 — — 405 405 Other invested assets 224 — (6 ) 218 218 Total investments $ 19,035 $ 683 $ (327 ) $ 19,391 $ 19,391 September 30, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for-sale securities Asset-backed securities $ 2,040 $ 12 $ (20 ) $ 2,032 $ 2,032 Commercial mortgage-backed securities 618 21 (2 ) 637 637 Corporates 9,329 499 (49 ) 9,779 9,779 Equities 679 24 (5 ) 698 698 Hybrids 1,279 52 (15 ) 1,316 1,316 Municipals 1,150 117 (7 ) 1,260 1,260 Residential mortgage-backed securities 1,985 140 (11 ) 2,114 2,114 U.S. Government 291 7 (1 ) 297 297 Total available-for-sale securities 17,371 872 (110 ) 18,133 18,133 Derivatives investments 178 123 (5 ) 296 296 Commercial mortgage loans 136 — — 136 136 Other invested assets 237 — — 237 237 Total investments $ 17,922 $ 995 $ (115 ) $ 18,802 $ 18,802 Included in AOCI were cumulative unrealized gains of $1 and unrealized losses of $2 related to the non-credit portion of other than temporary impairments ("OTTI") on non-agency residential mortgage-backed securities ("RMBS") at June 30, 2015 and September 30, 2014 . The non-agency RMBS unrealized gains and losses represent the difference between amortized cost and fair value on securities that were previously impaired. Securities held on deposit with various state regulatory authorities had a fair value of $15,964 and $15,009 at June 30, 2015 and September 30, 2014 , respectively. Under Iowa regulations, insurance companies are required to hold securities on deposit in an amount no less than the Company's legal reserve as prescribed by Iowa regulations. The Company held no non-income producing investments during the three and nine months ended June 30, 2015 and 2014 . In accordance with the Company's Federal Home Loan Bank of Atlanta (“FHLB”) agreements, the investments supporting the funding agreement liabilities are pledged as collateral to secure the FHLB funding agreement liabilities. The collateral investments had a fair value of $540 and $573 at June 30, 2015 and September 30, 2014 , respectively. The amortized cost and fair value of fixed maturity available-for-sale securities by contractual maturities, as applicable, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or pre-pay obligations. June 30, 2015 Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal and U.S. Government securities: Due in one year or less $ 204 $ 206 Due after one year through five years 2,113 2,153 Due after five years through ten years 2,955 3,015 Due after ten years 6,607 6,788 Subtotal 11,879 12,162 Other securities which provide for periodic payments: Asset-backed securities 2,164 2,145 Commercial mortgage-backed securities 814 821 Structured hybrids 673 661 Residential mortgage-backed securities 2,100 2,176 Subtotal 5,751 5,803 Total fixed maturity available-for-sale securities $ 17,630 $ 17,965 The Company's available-for-sale securities with unrealized losses are reviewed for potential OTTI. In evaluating whether a decline in value is other-than-temporary, the Company considers several factors including, but not limited to the following: (1) the extent and the duration of the decline; (2) the reasons for the decline in value (credit event, currency or interest-rate related, including general credit spread widening); and (3) the financial condition of and near-term prospects of the issuer. The Company also considers the ability and intent to hold the investment for a period of time to allow for a recovery of value. The Company analyzes its ability to recover the amortized cost by comparing the net present value of cash flows expected to be collected with the amortized cost of the security. For mortgage-backed and asset-backed securities, cash flow estimates consider the payment terms of the underlying assets backing a particular security, including interest rate and prepayment assumptions, based on data from widely accepted third-party data sources or internal estimates. In addition to interest rate and prepayment assumptions, cash flow estimates also include other assumptions regarding the underlying collateral including default rates and recoveries, which vary based on the asset type and geographic location, as well as the vintage year of the security. For structured securities, the payment priority within the tranche structure is also considered. For all other debt securities, cash flow estimates are driven by assumptions regarding probability of default and estimates regarding timing and amount of recoveries associated with a default. If the net present value is less than the amortized cost of the investment, an OTTI is recognized. FGL has concluded that the unrealized declines in fair values of the securities presented in the table below were not OTTI as of June 30, 2015 . The fair value and gross unrealized losses of available-for-sale securities, aggregated by investment category, were as follows: June 30, 2015 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-sale securities Asset-backed securities $ 941 $ (10 ) $ 597 $ (14 ) $ 1,538 $ (24 ) Commercial mortgage-backed securities 319 (7 ) 57 — 376 (7 ) Corporates 2,817 (127 ) 894 (46 ) 3,711 (173 ) Equities 60 (1 ) 95 (3 ) 155 (4 ) Hybrids 174 (5 ) 361 (24 ) 535 (29 ) Municipals 339 (13 ) 211 (7 ) 550 (20 ) Residential mortgage-backed securities 496 (13 ) 246 (12 ) 742 (25 ) U.S. Government 350 — 59 — 409 — Total available-for-sale securities $ 5,496 $ (176 ) $ 2,520 $ (106 ) $ 8,016 $ (282 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 787 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 300 Total number of available-for-sale securities in an unrealized loss position 1087 September 30, 2014 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-sale securities Asset-backed securities $ 939 $ (13 ) $ 290 $ (7 ) $ 1,229 $ (20 ) Commercial mortgage-backed securities 160 (1 ) 1 (1 ) 161 (2 ) Corporates 817 (16 ) 1,127 (33 ) 1,944 (49 ) Equities 181 (2 ) 54 (3 ) 235 (5 ) Hybrids 258 (2 ) 290 (13 ) 548 (15 ) Municipals — — 265 (7 ) 265 (7 ) Residential mortgage-backed securities 299 (6 ) 178 (5 ) 477 (11 ) U.S Government 37 — 82 (1 ) 119 (1 ) Total available-for-sale securities $ 2,691 $ (40 ) $ 2,287 $ (70 ) $ 4,978 $ (110 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 324 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 311 Total number of available-for-sale securities in an unrealized loss position 635 At June 30, 2015 and September 30, 2014 , securities in an unrealized loss position were primarily concentrated in investment grade corporate debt instruments. At June 30, 2015 and September 30, 2014 , securities with a fair value of $67 and $0 , respectively, were depressed greater than 20% of amortized cost (excluding U.S. Government and U.S. Government sponsored agency securities), which represented less than 1% of the carrying value of all investments. The following table provides a reconciliation of the beginning and ending balances of the credit loss portion of OTTI on fixed maturity securities held by the Company for the three and nine months ended June 30, 2015 and 2014 , for which a portion of the OTTI was recognized in AOCI: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Beginning balance $ 3 $ 3 $ 3 $ 3 Increases attributable to credit losses on securities: Other-than-temporary impairment was previously recognized — — — — Other-than-temporary impairment was not previously recognized — — — — Ending balance $ 3 $ 3 $ 3 $ 3 The Company recognized $4 and $65 of credit impairment losses in operations during the three and nine months ended June 30, 2015 , respectively, related to fixed maturity securities and other invested assets with an amortized cost of $156 and a fair value of $91 at June 30, 2015 . For the three and nine months ended June 30, 2014 , the Company recognized $1 of credit impairment losses in operations related to low income housing tax credit securities with an amortized cost of $2 and a fair value of $1 at June 30, 2014 . Details underlying write-downs taken as a result of OTTI that were recognized in net income and included in net realized gains on securities were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 OTTI Recognized in Net Income: Asset-backed securities $ 3 $ — $ 27 $ — Corporates — — 2 — Other invested assets 1 1 36 1 Total $ 4 $ 1 $ 65 $ 1 The portion of OTTI recognized in AOCI is disclosed in the Condensed Consolidated Statements of Comprehensive Income. In the third fiscal quarter ended June 30, 2015 , the Company recognized credit-related impairment losses of $13 on available-for-sale debt securities, available-for-sale equity securities and other invested assets, of which $9 was related to a preferred equity investment in Salus, discussed further below, that is ceded to FSRCI under our funds withheld reinsurance treaty, for net credit-related impairments of $4 . Salus restructured their business and eliminated the loan origination function, which lowered the expected future fee income to be earned by Salus. Please refer to "Note 14. Related Party Transactions” to the Company’s Consolidated Financial Statements for more detail on the investments impacted by this impairment. The asset-backed securities impairment of $3 related to a decline in valuation of the equity tranche of the collateralized loan obligations ("CLOs") resulting from a decrease in the expected recovery of a loan in the underlying CLO portfolio. In the second fiscal quarter ended March 31, 2015, the Company recognized credit-related impairment losses of $59 on available-for-sale debt securities, available-for-sale equity securities and other invested assets, net of reinsurance, related to direct and indirect investments in RadioShack Corporation ("RSH") and other loans because the Company concluded the decline in the fair value of these investments was other than temporary. A summary to the RSH-related impairments by investment is as follows: Three months ended March 31, 2015 Type Balance Sheet Classification Impairment Loss CLOs (a) Fixed maturities, available-for-sale $ 25 Preferred equity (a) Equity securities, available-for-sale 21 Participations Other invested assets 35 Impairment, gross of reinsurance $ 81 Preferred equity (a) Equity securities, available-for-sale (21 ) CLOs (a) Fixed maturities, available-for-sale (1 ) Impairment, net of reinsurance $ 59 (a) Preferred equity and a portion of the CLOs are included in the FSRCI funds withheld portfolio, accordingly all income on these assets are ceded to FSRCI. The fair values of the impairments summarized above were determined using the following inputs as follows: • CLOs - The Company utilized a price from a third party valuation firm which considered the sufficiency of underlying loan collateral for the RSH loan and other loans. • Preferred equity - The Company utilized a price from a third party valuation firm which considered the updated fair value estimates of the Salus Capital Partners, LLC ("Salus") CLO and the Salus participation in RSH, both of which Salus owns investment interests. • Participations - The Company considered the sufficiency and recoverability of the underlying loan collateral for RSH based on the evidence obtained. The total gross impact of the impairment losses above, excluding reinsurance with FSRCI was $81 for the second fiscal quarter. RSH filed for bankruptcy on February 5, 2015. In late March 2015, the Court awarded a sale of assets at auction to another bidder, causing our collateral claim to become more junior to other claimants and resulting in our conclusion that the Company had realized an other than temporary impairment. Please refer to "Note 14. Related Party Transactions” to the Company’s Consolidated Financial Statements for more detail on the investments impacted by this impairment. Mortgage Loans on Real Estate Commercial mortgage loans ("CMLs") represented approximately 2% and 1% of the Company’s total investments as of June 30, 2015 and September 30, 2014 , respectively. The Company primarily makes mortgage loans on income producing properties including hotels, industrial properties, retail buildings, multifamily properties and office buildings. The Company diversifies its CML portfolio by geographic region and property type to reduce concentration risk. Subsequent to origination, the Company continuously evaluates CMLs based on relevant current information to ensure properties are performing at a consistent and acceptable level to secure the related debt. The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables: June 30, 2015 September 30, 2014 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Industrial - General $ 9 2 % $ — — % Industrial - Warehouse 67 17 % 48 35 % Multifamily 57 14 % 38 28 % Office 129 32 % 44 33 % Retail 129 32 % 6 4 % Funeral Home 1 — % — — % Hotel 13 3 % Total commercial mortgage loans $ 405 100 % $ 136 100 % US Region: East North Central $ 113 28 % $ 28 21 % Middle Atlantic 81 20 % 11 8 % Pacific 81 20 % 61 45 % South Atlantic 56 14 % — — % West North Central 6 1 % 6 4 % West South Central 20 5 % 30 22 % Mountain 42 11 % — — % New England 6 1 % — — % Total commercial mortgage loans $ 405 100 % $ 136 100 % The Company has a CML portfolio with 100% of all CMLs having a loan-to-value (“LTV”) ratio of less than 75% at June 30, 2015 and September 30, 2014 . As of June 30, 2015 , all CMLs are current and have not experienced credit or other events which would require the recording of an impairment loss. The Company has not established a collective or specific CML valuation allowance as of June 30, 2015 . LTV and debt service coverage (“DSC”) ratios are measures commonly used to assess the risk and quality of mortgage loans. The LTV ratio, calculated at time of origination, is expressed as a percentage of the amount of the loan relative to the value of the underlying property. A LTV ratio in excess of 100% indicates the unpaid loan amount exceeds the underlying collateral. The DSC ratio, based upon the most recently received financial statements, is expressed as a percentage of the amount of a property’s net income to its debt service payments. A DSC ratio of less than 1.00 indicates that a property’s operations do not generate sufficient income to cover debt payments. The following table presents the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios at June 30, 2015 and September 30, 2014 : Debt-Service Coverage Ratios Total Amount % of Total Estimated Fair Value % of Total >1.25 1.00 - 1.25 N/A(a) June 30, 2015 LTV Ratios: Less than 50% $ 93 $ — $ 1 $ 94 23 % $ 94 23 % 50% to 60% 129 20 — 149 37 % 149 37 % 60% to 75% 162 — — 162 40 % 162 40 % Commercial mortgage loans $ 384 $ 20 $ 1 $ 405 100 % $ 405 100 % September 30, 2014 LTV Ratios: Less than 50% $ 44 $ — $ 1 $ 45 33 % $ 45 33 % 50% to 60% 20 — — 20 15 % 20 15 % 60% to 75% 71 — — 71 52 % 71 52 % Commercial mortgage loans $ 135 $ — $ 1 $ 136 100 % $ 136 100 % (a) N/A - Current DSC ratio not available. The Company recognizes a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At June 30, 2015 , we had no CMLs that were delinquent in principal or interest payments. The following provides the current and past due composition of our CMLs: June 30, 2015 September 30, 2014 Current to 30 days $ 405 $ 136 Past due — — Total carrying value $ 405 $ 136 A Troubled Debt Restructuring ("TDR") is a situation where we have granted a concession to a borrower for economic or legal reasons related to the borrower's financial difficulties that we would not otherwise consider. A mortgage loan that has been granted new terms, including workout terms as described previously, would be considered a TDR if it meets conditions that would indicate a borrower is experiencing financial difficulty and the new terms constitute a concession on our part. We analyze all loans where we have agreed to workout terms and all loans that we have refinanced to determine if they meet the definition of a TDR. We consider the following factors in determining whether or not a borrower is experiencing financial difficulty: • borrower is in default, • borrower has declared bankruptcy, • there is growing concern about the borrower's ability to continue as a going concern, • borrower has insufficient cash flows to service debt, • borrower's inability to obtain funds from other sources, and • there is a breach of financial covenants by the borrower. If the borrower is determined to be in financial difficulty, we consider the following conditions to determine if the borrower was granted a concession: • assets used to satisfy debt are less than our recorded investment, • interest rate is modified, • maturity date extension at an interest rate less than market rate, • capitalization of interest, • delaying principal and/or interest for a period of three months or more, and • partial forgiveness of the balance or charge-off. Mortgage loan workouts, refinances or restructures that are classified as TDRs are individually evaluated and measured for impairment. As of June 30, 2015 , our CML portfolio had no impairments, modifications or troubled debt restructuring. During the third quarter of 2015, we amended our Investment Management Agreement with CorAmerica, an affiliate of the Company, to include the servicing of our Commercial Mortgage Loan portfolio. FGL's affiliation with CorAmerica is detailed in "Note 14. Related Party Transactions" to the Company's Consolidated Financial Statements. Consequently, servicing of the portfolio was transferred from the prior servicer, Principal Real Estate Investors ("Principal"), to CorAmerica during the period (discussed in "Note 6. Fair Value of Financial Instruments" to the Company's Consolidated Financial Statements). Net investment income The major sources of “ Net investment income ” on the accompanying Condensed Consolidated Statements of Operations were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Fixed maturity available-for-sale securities $ 199 $ 182 $ 589 $ 532 Equity available-for-sale securities 8 7 26 16 Commercial mortgage loans 3 1 7 2 Related party loans 2 2 5 5 Other investments 5 4 16 16 Gross investment income 217 196 643 571 Investment expense (5 ) (5 ) (15 ) (12 ) Net investment income $ 212 $ 191 $ 628 $ 559 For mortgage-backed securities, included in the fixed maturity available-for-sale (“AFS”) securities portfolios, the Company recognizes income using a constant effective yield based on anticipated prepayments and the estimated economic life of the securities. When actual prepayments differ significantly from originally anticipated prepayments, the effective yield is recalculated prospectively to reflect actual payments to date plus anticipated future payments. Any adjustments resulting from changes in effective yield are reflected in “Net investment income’’. During third quarter 2015, we received notice that we are entitled to receive a settlement as a result of our ownership of certain residential mortgage-backed securities that were issued by Countrywide, an entity which was later acquired by Bank of America. We have estimated our expected recovery from this settlement to be between $15 and $20 , with a best estimate of $18 . In compliance with our accounting policy described above, we updated our cash flow projections for our best estimate of the recovery as of June 30, 2015 and will accrete it prospectively over the remaining life of the related securities through our effective yield and recognize the impact within "Net investment income". This change to our cash flow projections had an immaterial impact on our "Net investment income" during the third quarter of 2015. The weighted average remaining life on the affected securities is approximately 6 years. Net investment gains Details underlying “ Net investment gains ” reported on the accompanying Condensed Consolidated Statements of Operations were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net realized gains on fixed maturity available-for-sale securities $ 47 $ 73 $ 24 $ 93 Realized gains (losses) on equity securities 1 — — (1 ) Net realized gains on securities 48 73 24 92 Realized gains on certain derivative instruments 37 57 118 157 Unrealized (losses) gains on certain derivative instruments (44 ) 37 (90 ) 73 Change in fair value of reinsurance related embedded derivative 36 (21 ) 52 (54 ) Change in fair value of other derivatives and embedded derivatives (2 ) 1 10 1 Realized gains on derivatives and embedded derivatives 27 74 90 177 Realized losses on other invested assets (1 ) (2 ) (39 ) (2 ) Net investment gains $ 74 $ 145 $ 75 $ 267 Realized gains and losses on the sale of securities are determined on the specific identification method. For the three and nine months ended June 30, 2015 , principal repayments, calls, tenders, and proceeds from the sale of fixed maturity available-for-sale securities totaled $1,864 and $3,670 , gross gains on such sales totaled $53 and $73 , and gross losses totaled $6 and $49 , respectively. For the three and nine months ended June 30, 2014 , principal repayments, calls, tenders, and proceeds from the sale of fixed maturity available-for-sale securities, totaled $1,725 and $4,352 , gross gains on such sales totaled $75 and $97 , and gross losses totaled $2 and $4 , respectively. Unconsolidated Variable Interest Entities The Company owns investments in VIEs that are not consolidated within the Company’s financial statements. VIEs do not have sufficient equity to finance their own activities without additional financial support and certain of its investors lack certain characteristics of a controlling financial interest. These VIEs are not consolidated in the Company’s financial statements for the following reasons: 1) FGL Insurance does not have any voting rights or notice rights; 2) the Company does not have any rights to remove the investment manager; and 3) the Company was not involved in the design of the investment. These characteristics indicate that FGL Insurance lacks the ability to direct the activities, or otherwise exert control, of the VIEs and is not considered the primary beneficiary of them. FGL Insurance participates in loans to third parties originated by Salus. Salus is an affiliated, limited liability company indirectly owned by HRG that originates senior secured asset-based loans to unaffiliated third-party borrowers. FGL Insurance also participates in CLOs managed by Salus and owns preferred equity in Salus within the funds withheld portfolio of the FSRCI treaty. Because Salus is not consolidated, the Company’s maximum exposure to loss as a result of its investments in Salus is limited to the carrying value of its investments in Salus which totaled $263 and $304 as of June 30, 2015 and September 30, 2014 , respectively. FGL’s investments in Salus are detailed in “Note 14. Related Party Transactions” to the Company’s Consolidated Financial Statements. FGL Insurance also participates in an investment managed by Fifth Street Management, LLC (“Fifth Street”). Fifth Street Senior Loan Fund II (the “Fund”) invests in loans selected and/or originated by Fifth Street. Fifth Street is an unaffiliated, limited liability company that originates financing for the Fund’s investment activity through CLOs. The Company’s maximum exposure to loss as a result of its investments in Fifth Street is limited to the carrying value of its investments in Fifth Street which totaled $40 and $30 at June 30, 2015 and September 30, 2014 , respectively. During the quarter, FGL invested in an unaffiliated limited partnership fund that will invest in consumer whole loans, asset-backed investments, high yield, private investments, bank portfolio liquidations, bridge financing and other investments. The $35 commitment is expected to fund over the course of the next 3 years . FGL also executed a commitment of $75 to purchase common shares in an unaffiliated private business development company ("BDC"). The BDC invests in secured and unsecured debt and equity securities of middle market companies in the United States. Due to the voting structure of the transaction, FGL does not have voting power. The initial capital call will be during the summer of 2015, with the remaining commitment expected to fund through 2017.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The carrying amounts of derivative instruments, including derivative instruments embedded in fixed indexed annuity (“FIA”) contracts, is as follows: June 30, 2015 September 30, 2014 Assets: Derivative investments: Call options $ 220 $ 296 Other invested assets: Other derivatives and embedded derivatives 23 13 Other assets: Reinsurance related embedded derivative 128 77 $ 371 $ 386 Liabilities: Contractholder funds: FIA embedded derivative $ 2,174 $ 1,908 Funds withheld for reinsurance liabilities: Call options payable to FSRCI 14 23 Other liabilities: Futures contracts — 1 $ 2,188 $ 1,932 The change in fair value of derivative instruments included in the accompanying Condensed Consolidated Statements of Operations is as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Revenues: Net investment (losses) gains: Call options $ (7 ) $ 83 $ 24 $ 205 Futures contracts — 11 4 25 Other derivatives and embedded derivatives (2 ) 1 10 1 Reinsurance related embedded derivative 36 (21 ) 52 (54 ) $ 27 $ 74 $ 90 $ 177 Benefits and other changes in policy reserves FIA embedded derivatives $ (43 ) $ 146 $ 266 $ 320 Additional Disclosures Other Derivatives and Embedded Derivatives On June 16, 2014, FGL Insurance invested in a $35 fund-linked note issued by Nomura International Funding Pte. Ltd. The note provides for an additional payment at maturity based on the value of an embedded derivative in AnchorPath Dedicated Return Fund (the "AnchorPath Fund") of $11 on June 16, 2014 which is based on the actual return of the fund. At June 30, 2015 the fair value of the embedded derivative was $12 . At maturity of the fund-linked note, FGL Insurance will receive the $35 face value of the note plus the value of the embedded derivative in the AnchorPath Fund. The additional payment at maturity is an embedded derivative reported in "Other invested assets", while the host is an available-for-sale security reported in "Fixed maturities, available-for-sale". FGL Insurance participates in loans to third parties originated by Salus, an affiliated VIE, indirectly owned by HRG that provides asset-based financing. Five of the participating loans are denominated in Canadian ("CAD") currency which is different from FGL Insurance's functional currency. Three of the participating loans include a provision for reimbursement from the borrower to FGL Insurance for any net foreign exchange losses realized by FGL Insurance under the loan in which FGL Insurance has a participation interest. FGL Insurance's ability to recover the foreign exchange losses under these loan participations is such that the Company has established embedded derivatives equal to FGL Insurance's cumulative net foreign exchange loss on these loan participations. The value of the embedded derivatives is reflected in "Other invested assets" as of the balance sheet date with changes in fair value reflected in the Company's Condensed Consolidated Statements of Operations . The value of the embedded derivatives at each balance sheet date is equal to the cumulative net foreign exchange loss recognized on these loan participations at the balance sheet date. The Company had realized losses of $1 and realized gains of $10 for the three and nine months ended June 30, 2015 , respectively, related to its foreign exchange embedded derivatives included in other invested assets. The Company had realized losses of $1 and $1 for the three and nine months ended June 30, 2014 , respectively, related to its foreign exchange embedded derivatives included in other invested assets. The remaining two participating loans denominated in CAD currency also require reimbursement from the borrower in CAD currency but do not include a provision for reimbursement for any net foreign exchange losses from the borrower. Consequently, Salus has executed CAD swap agreements with FGL Insurance to convert the CAD cash flows into United States dollar ("USD") cash flows. Under these swap agreements, Salus will reimburse the Company for certain realized foreign exchange losses related to cash flows on these loan participations from origination date through maturity date. FGL Insurance recognizes the cumulative net foreign exchange loss recognized on these loan participations in “Other invested assets” with the changes in the fair value reflected in the Company’s Condensed Consolidated Statements of Operations . Additionally, a subsidiary of the parent company of Salus and the Company, HRG, executed an agreement with the Company to guarantee, subject to the terms of the agreement, the fulfillment of the accumulated foreign exchange loss recoverable from Salus. The Company has an expected recoverable of $8 and corresponding gain in our Condensed Consolidated Statements of Operations for the amount of cumulative net foreign exchange loss since the origination of the participation. FGL has recognized a corresponding unrealized foreign exchange loss on the CAD loans, which is included in our Condensed Consolidated Balance Sheet. Credit Risk The Company is exposed to credit loss in the event of nonperformance by its counterparties on the call options and reflects assumptions regarding this nonperformance risk in the fair value of the call options. The nonperformance risk is the net counterparty exposure based on the fair value of the open contracts less collateral held. The Company maintains a policy of requiring all derivative contracts to be governed by an International Swaps and Derivatives Association (“ISDA”) Master Agreement. Information regarding the Company’s exposure to credit loss on the call options it holds is presented in the following table: June 30, 2015 September 30, 2014 Counterparty Credit Rating (Fitch/Moody's/S&P) (a) Notional Amount Fair Value Collateral Net Credit Risk Notional Amount Fair Value Collateral Net Credit Risk Merrill Lynch A/*/A $ 2,438 $ 59 $ 15 $ 44 $ 2,240 $ 93 $ 53 $ 40 Deutsche Bank A/A3/BBB+ 2,660 72 39 33 2,810 108 72 36 Morgan Stanley */A1/A 3,747 88 65 23 2,295 85 63 22 Barclay's Bank A/A2/A- 127 1 — 1 258 10 — 10 Total $ 8,972 $ 220 $ 119 $ 101 $ 7,603 $ 296 $ 188 $ 108 (a) An * represents credit ratings that were not available. Additionally, the Company has exposure to credit loss related to nonperformance risk by affiliated and unaffiliated counterparties associated with CAD foreign currency swap agreements on loan participations reported within “Other invested assets”, as discussed further above in Other Derivatives and Embedded Derivatives. The fair value of these CAD swap agreements is $8 and reflects an estimate of non-performance risk from Salus as the primary counterparty and Salus or a subsidiary of HRG as the secondary counterparty, as the subsidiary of HRG has guaranteed fulfillment of the collateral in the event that Salus is unable to do so as primary counterparty. Our fair value of this derivative reflects an estimate of non-performance risk based upon our evaluation of HRG as the ultimate counterparty for the agreement. Collateral Agreements The Company is required to maintain minimum ratings as a matter of routine practice as part of its over-the-counter derivative agreements on ISDA forms. Under some ISDA agreements, the Company has agreed to maintain certain financial strength ratings. A downgrade below these levels provides the counterparty under the agreement the right to terminate the open derivative contracts between the parties, at which time any amounts payable by the Company or the counterparty would be dependent on the market value of the underlying derivative contracts. The Company’s current rating allows multiple counterparties the right to terminate ISDA agreements. No ISDA agreements have been terminated, although the counterparties have reserved the right to terminate the ISDA agreements at any time. In certain transactions, the Company and the counterparty have entered into a collateral support agreement requiring either party to post collateral when the net exposures exceed pre-determined thresholds. These thresholds vary by counterparty and credit rating. As of June 30, 2015 and September 30, 2014 , counterparties posted $119 and $188 of collateral of which $104 and $135 , respectively, is included in "Cash and cash equivalents" with an associated payable for this collateral included in "Other liabilities" on the Condensed Consolidated Balance Sheets . The remaining $15 and $53 of non-cash collateral was held by a third-party custodian at June 30, 2015 and September 30, 2014 , respectively. Accordingly, the maximum amount of loss due to credit risk that the Company would incur if parties to the call options failed completely to perform according to the terms of the contracts was $101 and $108 at June 30, 2015 and September 30, 2014 , respectively. The Company held 1,819 and 2,348 futures contracts at June 30, 2015 and September 30, 2014 , respectively. The fair value of the futures contracts represents the cumulative unsettled variation margin (open trade equity, net of cash settlements). The Company provides cash collateral to the counterparties for the initial and variation margin on the futures contracts which is included in " Cash and cash equivalents " in the accompanying Condensed Consolidated Balance Sheets . The amount of cash collateral held by the counterparties for such contracts was $8 and $11 at June 30, 2015 and September 30, 2014 , respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s measurement of fair value is based on assumptions used by market participants in pricing the asset or liability, which may include inherent risk, restrictions on the sale or use of an asset or non-performance risk, which may include the Company’s own credit risk. The Company’s estimate of an exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability (“exit price”) in the principal market, or the most advantageous market in the absence of a principal market, for that asset or liability, as opposed to the price that would be paid to acquire the asset or receive a liability (“entry price”). The Company categorizes financial instruments carried at fair value into a three-level fair value hierarchy, based on the priority of inputs to the respective valuation technique. The three-level hierarchy for fair value measurement is defined as follows: Level 1 - Values are unadjusted quoted prices for identical assets and liabilities in active markets accessible at the measurement date. Level 2 - Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices from those willing to trade in markets that are not active, or other inputs that are observable or can be corroborated by market data for the term of the instrument. Such inputs include market interest rates and volatilities, spreads and yield curves. Level 3 - Certain inputs are unobservable (supported by little or no market activity) and significant to the fair value measurement. Unobservable inputs reflect the Company’s best estimate of what hypothetical market participants would use to determine a transaction price for the asset or liability at the reporting date based on the best information available in the circumstances. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lower level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment. When a determination is made to classify an asset or liability within Level 3 of the fair value hierarchy, the determination is based upon the significance of the unobservable inputs to the overall fair value measurement. Because certain securities trade in less liquid or illiquid markets with limited or no pricing information, the determination of fair value for these securities is inherently more difficult. However, Level 3 fair value investments may include, in addition to the unobservable or Level 3 inputs, observable components, which are components that are actively quoted or can be validated to market-based sources. The carrying amounts and estimated fair values of the Company’s financial instruments for which the disclosure of fair values is required, including financial assets and liabilities measured and carried at fair value on a recurring basis, with the exception of investment contracts and debt, are summarized according to the hierarchy previously described, as follows: June 30, 2015 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 654 $ — $ — $ 654 $ 654 Fixed maturity securities, available-for-sale: Asset-backed securities — 2,075 70 2,145 2,145 Commercial mortgage-backed securities — 681 140 821 821 Corporates — 8,634 901 9,535 9,535 Hybrids — 1,241 — 1,241 1,241 Municipals — 1,412 38 1,450 1,450 Residential mortgage-backed securities — 2,176 — 2,176 2,176 U.S. Government 413 184 — 597 597 Equity securities available-for-sale 27 547 9 583 583 Derivative financial instruments — 220 — 220 220 Reinsurance related embedded derivative, included in other assets — 128 — 128 128 Other invested assets — 11 207 218 218 Total financial assets at fair value $ 1,094 $ 17,309 $ 1,365 $ 19,768 $ 19,768 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 2,174 $ 2,174 $ 2,174 Derivative instruments - futures contracts — — — — — Investment contracts, included in contractholder funds — — 14,016 14,016 15,530 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 14 — 14 14 Debt — 312 — 312 300 Total financial liabilities at fair value $ — $ 326 $ 16,190 $ 16,516 $ 18,018 September 30, 2014 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 576 $ — $ — $ 576 $ 576 Fixed maturity securities, available-for-sale: Asset-backed securities — 1,958 74 2,032 2,032 Commercial mortgage-backed securities — 554 83 637 637 Corporates — 8,945 834 9,779 9,779 Hybrids — 1,316 — 1,316 1,316 Municipals — 1,223 37 1,260 1,260 Residential mortgage-backed securities — 2,114 — 2,114 2,114 U.S. Government 116 181 — 297 297 Equity securities available-for-sale 59 599 40 698 698 Derivative financial instruments — 296 — 296 296 Reinsurance related embedded derivative, included in other assets — 76 — 76 76 Other invested assets — 2 235 237 237 Total financial assets at fair value $ 751 $ 17,264 $ 1,303 $ 19,318 $ 19,318 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 1,908 $ 1,908 $ 1,908 Derivative instruments - futures contracts — 1 — 1 1 Investment contracts, included in contractholder funds — — 13,109 13,109 14,556 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 22 — 22 22 Debt — 317 — 317 300 Total financial liabilities at fair value $ — $ 340 $ 15,017 $ 15,357 $ 16,787 The carrying amounts of accrued investment income, and portions of other insurance liabilities, approximate fair value due to their short duration and, accordingly, they are not presented in the tables above. Valuation Methodologies Fixed Maturity Securities & Equity Securities The Company measures the fair value of its securities based on assumptions used by market participants in pricing the security. The most appropriate valuation methodology is selected based on the specific characteristics of the fixed maturity or equity security, and the Company will then consistently apply the valuation methodology to measure the security’s fair value. The Company's fair value measurement is based on a market approach, which utilizes prices and other relevant information generated by market transactions involving identical or comparable securities. Sources of inputs to the market approach include a third-party pricing service, independent broker quotations or pricing matrices. The Company uses observable and unobservable inputs in its valuation methodologies. Observable inputs include benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. In addition, market indicators and industry and economic events are monitored and further market data will be acquired when certain thresholds are met. For certain security types, additional inputs may be used, or some of the inputs described above may not be applicable. The significant unobservable input used in the fair value measurement of equity securities available-for-sale for which the market-approach valuation technique is employed is yields for comparable securities. Increases (decreases) in the yields would result in lower or higher, respectively, fair value measurements. For broker-quoted only securities, quotes from market makers or broker-dealers are obtained from sources recognized to be market participants. The fair value of the Company's investment in mutual funds is based on the net asset value published by the respective mutual fund and represents the value the Company would have received if it withdrew its investment on the balance sheet date. Management believes the broker quotes are prices at which trades could be executed based on historical trades executed at broker-quoted or slightly higher prices. The Company did not adjust prices received from third parties as of June 30, 2015 and September 30, 2014 . However, the Company does analyze the third-party valuation methodologies and its related inputs to perform assessments to determine the appropriate level within the fair value hierarchy. Derivative Financial Instruments The fair value of derivative assets and liabilities is based upon valuation pricing models, which represents what the Company would expect to receive or pay at the balance sheet date if it canceled the options, entered into offsetting positions, or exercised the options. Fair values for these instruments are determined externally by an independent consulting firm using market-observable inputs, including interest rates, yield curve volatilities, and other factors. The fair values of the embedded derivatives in the Company’s FIA products are derived using market indices, pricing assumptions and historical data. The fair value of the reinsurance related embedded derivative in the funds withheld reinsurance agreement with FSRCI is estimated based upon the change in the fair value of the assets supporting the funds withheld from reinsurance liabilities. As the fair value of the assets is based on a quoted market price of similar assets (Level 2), the fair value of the embedded derivative is based on market-observable inputs and is classified as Level 2. The fair value of futures contracts represents the cumulative unsettled variation margin (open trade equity, net of cash settlements). Investment contracts include deferred annuities, FIAs, indexed universal life policies (“IULs”) and immediate annuities. The fair value of deferred annuity, FIA, and IUL contracts is based on their cash surrender value (i.e. the cost the Company would incur to extinguish the liability) as these contracts are generally issued without an annuitization date. The fair value of immediate annuities contracts is derived by calculating a new fair value interest rate using the updated yield curve and treasury spreads as of the respective reporting date. At June 30, 2015 , this resulted in higher fair value reserves relative to the carrying value, and at September 30, 2014 , this resulted in lower fair value reserves relative to the carrying value. The Company is not required to, and has not, estimated the fair value of the liabilities under contracts that involve significant mortality or morbidity risks, as these liabilities fall within the definition of insurance contracts that are exceptions from financial instruments that require disclosures of fair value. The significant unobservable inputs used in the fair value measurement of FIA embedded derivatives included in contractholder funds are market value of option, interest swap rates, mortality multiplier, surrender rates, and non-performance spread. The mortality multiplier at June 30, 2015 and September 30, 2014 was applied to the Annuity 2000 mortality tables. Significant increases (decreases) in the market value of option in isolation would result in a higher or lower, respectively, fair value measurement. Significant increases or decreases in interest swap rates, mortality multiplier, surrender rates, or non-performance spread in isolation would result in a lower or higher, respectively, fair value measurement. Generally, a change in any one unobservable input would not result in a change in any other unobservable input. Other Invested Assets Fair value of our loan participation interest securities approximates the unpaid principal balance of the participation interest as of June 30, 2015 . In making this assessment, the Company considered the sufficiency of the underlying loan collateral, movements in the benchmark interest rate between origination date and June 30, 2015 , the primary market participant for these securities and the short-term maturity of these loans (less than 1 year ). Fair value of our loan participation interest in RSH is based upon a best estimate of the expected liquidation value of the underlying collateral. RSH is in the process of liquidation to satisfy creditor obligations. Valuation of the collateral was based upon a variety of assumptions by asset class depending upon the availability of market-participant indicators of fair value. Where such market data was not available, a best estimate of expected liquidation value as a percentage of book value was calculated based upon experience in similar liquidations. Our best estimate of recovery value is 30% of the par value of the investment based upon the documentation currently available. As the liquidation process continues and more information becomes known about expected or actual sales price/recovery value, our estimates and the evaluation of the fair value and other than temporary impairment will be updated. The actual recovery value from the liquidation process could vary from the estimates that have been used for the current fair value estimation, including the consideration of potential claims of unsecured creditors on valuation of certain asset recoveries. Fair value of our embedded derivative is based on an unobservable input, the net asset value of the AnchorPath fund at the balance sheet date. The embedded derivative is similar to a call option on the net asset value of the AnchorPath fund with a strike price of zero since FGL Insurance will not be required to make any additional payments at maturity of the fund-linked note in order to receive the net asset value of the AnchorPath fund on the maturity date. Therefore, the Black Scholes model returns the net asset value of the AnchorPath fund as the fair value of the call option regardless of the values used for the other inputs to the option pricing model. The net asset value of the AnchorPath fund is provided by the fund manager at the end of each calendar month and represents the value an investor would receive if it withdrew its investment on the balance sheet date. Therefore, the key unobservable input used in the Black Scholes model is the value of the AnchorPath fund. As the value of the AnchorPath fund increases or decreases, the fair value of the embedded derivative will increase or decrease. Fair value of foreign exchange derivatives and embedded derivatives are based on the quoted USD/CAD exchange rates. Valuation Methodologies and Associated Inputs for Financial Instruments Not Carried at Fair Value The following discussion outlines the methodologies and assumptions used to determine the fair value of our financial instruments not carried at fair value. Considerable judgment is required to develop these assumptions used to measure fair value. Accordingly, the estimates shown are not necessarily indicative of the amounts that would be realized in a one-time, current market exchange of all of our financial instruments. Mortgage Loans on Real Estate The fair value of mortgage loans on real estate is established using a discounted cash flow method based on credit rating, maturity and future income. The ratings for mortgages in good standing are based on property type, location, market conditions, occupancy, debt-service coverage, loan-to-value, quality of tenancy, borrower and payment record. The carrying value for impaired mortgage loans is based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s market price or the fair value of the collateral if the loan is collateral dependent. The inputs used to measure the fair value of our mortgage loans on real estate are classified as Level 3 within the fair value hierarchy. In September 2013, the Company initiated a commercial loan program utilizing a third party CML asset manager, Principal Real Estate Investors ("Principal"). Subsequently in October 2014, the Company transitioned this program to CorAmerica, a subsidiary of Harbinger Group, as an additional CML asset manager, and in April 2015 transferred the management and servicing responsibilities of all CMLs to CorAmerica. As part of these programs, the Company has funded CMLs with a fair value of $404 at June 30, 2015 , which is equal to amortized cost. None of these loans are past due or have material credit issues and given that there have not been material changes in market interest since origination the Company views amortized cost as representative of fair value. The CML asset managers monitor the status of the payment obligations, the credit quality of the borrower, the condition of the property, and any other events that may impact the performance and principal repayment of the CMLs. Additionally, the Company periodically reviews the asset managers' valuation methodologies and investment processes to ensure the program is performing in line with the objectives of the program. A CML's current standing and payment obligations are material factors in evaluating the CML's carrying value and related fair value. At June 30, 2015 , all CMLs are current with no payments past due and there are no credit or other events which would require impairment evaluation. Policy Loans (included within Other Invested Assets) Also included in other invested assets are policy loans. Fair values for policy loans are estimated using discounted cash flow analysis, using interest rates currently being offered for loans with similar credit risk. Loans with similar characteristics are aggregated for purposes of the calculations. Related Party Loans The related party loans (discussed in "Note 14. Related Party Transactions" to the Company's Consolidated Financial Statements) carrying value at par approximates fair value, as this is the exit price for the obligation of these loans. Debt The fair value of debt is based on quoted market prices. The inputs used to measure the fair value of our outstanding debt are classified as Level 2 within the fair value hierarchy. Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments carried at fair value as of June 30, 2015 and September 30, 2014 are as follows: Fair Value at Valuation Range (Weighted average) June 30, 2015 Technique Unobservable Input(s) June 30, 2015 Assets Asset-backed securities $ 33 Broker-quoted Offered quotes 100.00% - 106.75% Asset-backed securities (Salus CLO equity tranche) 37 Third-Party Valuation Offered quotes 55.00% - 58.73% Discount rate 11.00% Constant default rate 2.00% RSH recovery 30.00% Other loan recoveries 48.00% - 100.00% Commercial mortgage-backed securities 140 Broker-quoted Offered quotes 99.88% - 121.50% Corporates 868 Broker-quoted Offered quotes 60.00% - 120.34% Corporates 33 Matrix Pricing Quoted prices 103.51% - 144.25% Municipals 38 Broker-quoted Offered quotes 108.44% Equity securities available-for-sale 6 Matrix Pricing Quoted prices 100.00% Equity securities available-for-sale (Salus preferred equity) 3 Market-approach Yield 11.00% RSH recovery 30.00% Discount rate 11.00% Salus CLO equity 55.17% Other invested assets: Available-for-sale embedded derivative 12 Black Scholes model Market value of AnchorPath fund 100.00% Salus participations 167 Market Pricing Offered quotes 100.00% Salus participation - RSH Corporation 15 Liquidation Value - 30% recovery estimate Sales agreements 100.00% Cash 100.00% Inventory 50.00%- 75.00% of book value Accounts receivable 50.00% - 100.00% of book value Wind-down expenses 100.00% estimated expense Total $ 1,352 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 2,174 Discounted Cash Flow Market value of option 0.00% - 40.86% (2.26%) SWAP rates 1.79% - 2.46% (2.13%) Morality multiplier 80.00% Surrender rates 0.50% - 75.00% (7.00%) Non-performance spread 0.25% Total liabilities at fair value $ 2,174 Fair Value at Valuation Unobservable Range (Weighted average) September 30, 2014 Technique Input(s) September 30, 2014 Assets Asset-backed securities $ 74 Broker-quoted Offered quotes 95.45% - 109.26% (99.26%) Commercial mortgage-backed securities 83 Broker-quoted Offered quotes 105.25% - 121.00% (118.29%) Corporates 832 Broker-quoted Offered quotes 61.67% - 119.75% (100.04%) Corporates 2 Matrix Pricing Quoted prices 142.30% Municipals 37 Broker-quoted Offered quotes 106.64% Equity securities available-for-sale 6 Broker-quoted Offered quotes 99.75% Equity securities available-for-sale 34 Market-approach Yield 8.31% - 9.81% Other invested assets: Available-for-sale embedded derivative 11 Black Scholes model Net asset value of AnchorPath fund 100.00% Salus participations 213 Market Pricing Offered quotes 100.00% Total $ 1,292 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 1,908 Discounted Cash Flow Market value of option 0.00% - 49.82% (3.37%) SWAP rates 1.93% - 2.64% (2.29%) Morality multiplier 80.00% Surrender rates 0.50% - 75.00% (7.00%) Non-performance spread 0.25% Total liabilities at fair value $ 1,908 Changes in unrealized losses (gains), net in the Company’s FIA embedded derivatives are included in " Benefits and other changes in policy reserves " in the Condensed Consolidated Statements of Operations . The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three and nine months ended June 30, 2015 and 2014 , respectively. This summary excludes any impact of amortization of VOBA and DAC. The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended June 30, 2015 Balance at Beginning of Period Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Period Included in Earnings Included in AOCI Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 92 $ (3 ) $ — $ — $ — $ — $ (19 ) $ 70 Commercial mortgage-backed securities 142 — (2 ) — — — — 140 Corporates 925 — (20 ) — (1 ) (3 ) — 901 Municipals 40 — (2 ) — — — — 38 Equity securities available-for-sale 18 (9 ) — — — — — 9 Other invested assets: Available-for-sale embedded derivative 12 — — — — — — 12 Salus participations, included in other invested assets 195 (1 ) 2 — — (14 ) — 182 Total assets at Level 3 fair value $ 1,424 $ (13 ) $ (22 ) $ — $ (1 ) $ (17 ) $ (19 ) $ 1,352 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,217 $ (43 ) $ — $ — $ — $ — $ — $ 2,174 Total liabilities at Level 3 fair value $ 2,217 $ (43 ) $ — $ — $ — $ — $ — $ 2,174 (a) The net transfers out of Level 3 during the three months ended June 30, 2015 were exclusively to Level 2. Nine months ended June 30, 2015 Balance at Beginning of Period Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Period Included in Earnings Included in AOCI Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 74 $ (28 ) $ 2 $ 66 $ (15 ) $ — $ (29 ) $ 70 Commercial mortgage-backed securities 83 — — 57 — — — 140 Corporates 834 2 4 123 (1 ) (37 ) (24 ) 901 Municipals 37 — 1 — — — — 38 Equity securities available-for-sale 40 (30 ) (1 ) — — — — 9 Other invested assets: Available-for-sale embedded derivative 11 1 — — — — — 12 Salus participations, included in other invested assets 213 (38 ) (2 ) 78 — (69 ) — 182 Total assets at Level 3 fair value $ 1,292 $ (93 ) $ 4 $ 324 $ (16 ) $ (106 ) $ (53 ) $ 1,352 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,908 $ 266 $ — $ — $ — $ — $ — $ 2,174 Total liabilities at Level 3 fair value $ 1,908 $ 266 $ — $ — $ — $ — $ — $ 2,174 (a) The net transfers out of Level 3 during the nine months ended June 30, 2015 were exclusively to Level 2. Three months ended June 30, 2014 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 48 $ — $ — $ — $ — $ — $ (5 ) $ 43 Commercial mortgage-backed securities — — — 84 — — — 84 Corporates 657 — 14 89 (1 ) — (14 ) 745 Municipals 36 — 1 — — — — 37 Equity securities available-for-sale 33 — 2 6 — — — 41 Other invested assets: Available-for-sale embedded derivative — — — 11 — — — 11 Salus participations, included in other invested assets 193 — — 4 — (29 ) — 168 Total assets at Level 3 fair value $ 967 $ — $ 17 $ 194 $ (1 ) $ (29 ) $ (19 ) $ 1,129 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,719 $ 146 $ — $ — $ — $ — $ — $ 1,865 Total liabilities at Level 3 fair value $ 1,719 $ 146 $ — $ — $ — $ — $ — $ 1,865 (a) The net transfers out of Level 3 during the three months ended June 30, 2014 were exclusively to Level 2. Nine months ended June 30, 2014 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 247 $ — $ (1 ) $ 5 $ — $ — $ (208 ) $ 43 Commercial mortgage-backed securities 5 — 1 84 — — (6 ) 84 Corporates 461 — 18 283 (1 ) (2 ) (14 ) 745 Municipals — — 2 35 — — — 37 Equity securities available-for-sale — — 2 39 — — — 41 Other invested assets: Available-for-sale embedded derivative — — — 11 — — — 11 Salus participations, included in other invested assets 157 — — 109 — (98 ) — 168 Total assets at Level 3 fair value $ 870 $ — $ 22 $ 566 $ (1 ) $ (100 ) $ (228 ) $ 1,129 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,545 $ 320 $ — $ — $ — $ — $ — $ 1,865 Total liabilities at Level 3 fair value $ 1,545 $ 320 $ — $ — $ — $ — $ — $ 1,865 (a) The net transfers out of Level 3 during the nine months ended June 30, 2014 were exclusively to Level 2. There was a $6 transfer within the Level 3 asset class from commercial mortgage-backed securities to asset-backed securities. The Company reviews the fair value hierarchy classifications each reporting period. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in and out of Level 3, or between other levels, at the beginning fair value for the reporting period in which the changes occur. There were no transfers between Level 1 and Level 2 for the three and nine months ended June 30, 2015 and 2014 . Primary market issuance and secondary market activity for certain asset-backed securities during the three and nine months ended June 30, 2015 and 2014 increased the market observable inputs used to establish fair values for similar securities. These factors, along with more consistent pricing from third-party sources, resulted in the Company concluding that there is sufficient trading activity in similar instruments to support classifying these securities as Level 2 as of June 30, 2015 and 2014 . Accordingly, the Company’s assessment resulted in net transfers out of Level 3 of $19 and $53 related to asset-backed and corporate securities during the three and nine months ended June 30, 2015 . During the three and nine months ended June 30, 2014 , there were net transfers out of Level 3 of $19 and $222 , respectively, related to asset-backed and corporate securities.

Intangible Assets

Intangible Assets	9 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Information regarding VOBA and DAC which includes deferred sales inducement, is as follows: VOBA DAC Total Balance at September 30, 2014 $ 59 $ 456 $ 515 Deferrals — 249 249 Less: Amortization related to: Unlocking 3 (5 ) (2 ) Interest 9 16 25 Amortization (57 ) (63 ) (120 ) Add: Adjustment for unrealized investment losses 49 92 141 Balance at June 30, 2015 $ 63 $ 745 $ 808 Accumulated amortization $ 399 VOBA DAC Total Balance at September 30, 2013 $ 192 $ 331 $ 523 Deferrals — 173 173 Less: Amortization related to: Unlocking 22 3 25 Interest 11 10 21 Amortization (59 ) (36 ) (95 ) Add: Adjustment for unrealized investment gains (108 ) (83 ) (191 ) Balance at June 30, 2014 $ 58 $ 398 $ 456 Accumulated amortization $ 330 Amortization of VOBA and DAC is based on the amount of gross margins or profits recognized, including investment gains and losses. The interest accrual rate utilized to calculate the accretion of interest on VOBA ranged from 4% to 5% . The adjustment for unrealized net investment losses/gains represents the amount of VOBA and DAC that would have been amortized if such unrealized gains and losses had been recognized. This is referred to as the “shadow adjustments” as the additional amortization is reflected in AOCI rather than the statement of operations. As of June 30, 2015 and September 30, 2014 , the VOBA balance included cumulative adjustments for net unrealized investment gains/losses of $115 and $164 , respectively, and the DAC balances included cumulative adjustments for net unrealized investment gains/losses of $37 and $56 , respectively. The above DAC balances include $51 and $33 of deferred sales inducements, net of shadow adjustments, as of June 30, 2015 and September 30, 2014 , respectively. The weighted average amortization period for VOBA is approximately 4.9 years. Estimated amortization expense for VOBA in future fiscal periods is as follows: Estimated Amortization Expense Fiscal Year VOBA 2015 8 2016 31 2017 26 2018 21 2019 17 Thereafter 73

Debt

Debt	9 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt The Company's outstanding debt as of June 30, 2015 and September 30, 2014 is as follows: June 30, 2015 September 30, 2014 Debt $ 300 $ 300 Revolving credit facility — — The interest expense and amortization of debt issuance costs of the Company's debt for the three and nine months ended June 30, 2015 and 2014 , respectively, were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Interest Expense Amortization Interest Expense Amortization Interest Expense Amortization Interest Expense Amortization Debt $ 5 $ 1 $ 5 $ 1 $ 14 $ 3 $ 14 $ 3 Revolving credit facility — — — — — 1 — — On August 26, 2014, Fidelity & Guaranty Life Holdings, Inc. ("FGLH"), a wholly owned subsidiary of FGL, as borrower, and the Company as guarantor, entered into a three -year $150 unsecured revolving credit facility (the “Credit Agreement”) with certain lenders and RBC Capital Markets and Credit Suisse Securities (USA) LLC, acting as joint lead arrangers. The loan proceeds from the Credit Agreement may be used for working capital and general corporate purposes. As of June 30, 2015 , the Company has not drawn on the revolver. If the Company were to draw on the revolver, the interest rate would be equal to a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.5% , (b) the rate of interest determined by Royal Bank of Canada as its prime commercial lending rate for USD loans in the United States for such day as the "U.S. Prime Rate", and (c) the Eurodollar Rate for an interest period of one month beginning on such day (or if such day is not a business day, the business day immediately preceding such day) plus 1.00% per annum. As of June 30, 2015 and September 30, 2014 , the interest rate would be equal to 5.25% , had the Company drawn on the revolver.

Equity

Equity	9 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Equity	Equity Share Repurchase On September 2, 2014, the Company’s Board of Directors authorized the repurchase of up to 500 thousand shares of the Company’s outstanding shares of common stock over the next twelve months. As of June 30, 2015 , the share repurchase program has been completed and a total of 512 thousand shares of common stock have been repurchased at cost for a total cost of $11 , which are held in treasury, of which 500 thousand shares were pursuant to the repurchase program and 12 thousand shares were acquired to satisfy employee income tax withholding pursuant to the Company’s stock compensation plan. Subsequent to the Company's repurchase of shares, HRG indirectly held 47,000 thousand shares of FGL's outstanding common stock, representing an 81% interest at June 30, 2015 . Dividends On November 18, 2014, FGL’s Board of Directors declared a quarterly cash dividend of $0.065 per share. The dividend was paid on December 15, 2014 to shareholders of record as of the close of business on December 1, 2014 and total cash paid was $4 (based on fully vested, outstanding shares of 58,279 thousand ). On February 10, 2015, FGL’s Board of Directors declared a quarterly cash dividend of $0.065 per share. The dividend was paid on March 9, 2015 to shareholders of record as of the close of business on February 23, 2015 and total cash paid was $4 (based on fully vested, outstanding shares of 57,975 thousand ). On May 1, 2015, FGL’s Board of Directors declared a quarterly cash dividend of $0.065 per share. The dividend was paid on June 1, 2015 to shareholders of record as of the close of business on May 18, 2015 and total cash paid was $4 (based on fully vested, outstanding shares of 57,932 thousand ). On July 31, 2015, FGL’s Board of Directors declared a quarterly cash dividend of $0.065 per share. The dividend is payable on August 31, 2015 to shareholders of record as of the close of business on August 17, 2015.

Stock Compensation

Stock Compensation	9 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation	Stock Compensation The Company recognized total stock compensation expense related to the FGL Plans and FGLH Plans as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 FGL Plans Stock options $ — $ — $ 1 $ — Restricted shares — — 5 — Performance restricted stock units 1 — 3 1 Unrestricted shares — — — 1 1 — 9 2 FGLH Plans Stock Incentive Plan - stock options — 1 1 7 2011 dividend equivalent plan — — — 1 Amended and Restated Stock Incentive Plan - stock options 2 1 4 6 Amended and Restated Stock Incentive Plan - restricted stock units — 1 1 1 2012 dividend equivalent plan 1 — 1 — 3 3 7 15 Total stock compensation expense 4 3 16 17 Related tax benefit 1 1 6 6 Net stock compensation expense $ 3 $ 2 $ 10 $ 11 The stock compensation expense is included in "Acquisition and operating expenses, net of deferrals" in the Condensed Consolidated Statements of Operations . Total compensation expense related to the FGL Plans and FGLH Plans not yet recognized as of June 30, 2015 and the weighted-average period over which this expense will be recognized are as follows: Unrecognized Compensation Weighted Average Recognition FGL Plans Stock options $ 1 2 Restricted shares 4 2 Performance restricted stock units 6 1 Unrestricted shares — N/A 11 FGLH Plans Stock Incentive Plan - stock options — N/A 2011 dividend equivalent plan — N/A Amended and Restated Stock Incentive Plan - stock options 1 1 Amended and Restated Stock Incentive Plan - restricted stock units 1 1 2012 dividend equivalent plan — 1 2 Total unrecognized stock compensation expense $ 13 1 FGL Plans FGL’s Compensation Committee is authorized to grant up to 2,838 thousand equity awards under the FGL Plans. At June 30, 2015 , 1,347 thousand equity awards are available for future issuance under the FGL Plans. On December 1, 2014, FGL granted 176 thousand stock options to certain officers, directors and other key employees under the Omnibus Plan. These stock options vest in equal installments over a period of three years and expire on the seventh anniversary of the grant date. The total fair value of the option grants to certain officers, directors and other employees on the grant date was $1 . On February 11, 2014, FGL granted 7 thousand stock options to certain directors under the Omnibus Plan. These stock options vest in equal installments over a period of three years and expire on the seventh anniversary of the grant date. The total fair value of the option grants to certain officers, directors and other employees on the grant date was $0 . On May 11, 2015, FGL granted 24 thousand stock options to a certain officer under the Omnibus Plan. These stock options vest in equal installments over a period of three years and expire on the seventh anniversary of the grant date. The total fair value of the option grants to a certain officer was $0 . On March 31, 2015, the Company entered into an agreement with its former Chief Executive Officer in connection with his resignation pursuant to which the vesting for certain FGL and FGLH equity awards to the former Chief Executive Officer were accelerated. The former Chief Executive Officer forfeited two-thirds of the performance restricted stock units granted in fiscal year 2014, and all other previously awarded equity grants became vested as of March 31, 2015. The exercise date of the outstanding stock options was extended to December 31, 2015. No other terms of the equity awards were modified. The Company recognized total incremental compensation expense of $2 as a result of these modifications. At June 30, 2015 , the intrinsic value of stock options outstanding, exercisable and vested or expected to vest was $2 , $1 , and $2 , respectively. At June 30, 2015 , the weighted average remaining contractual term of stock options outstanding, exercisable and vested or expected to vest was 6 years , 6 years and 6 years , respectively. During the nine months ended June 30, 2015 and June 30, 2014 , the intrinsic value of stock options exercised, total cash received upon exercise and the related tax benefit realized was $0 , $0 and $0 , respectively. A summary of FGL’s outstanding stock options as of June 30, 2015 , and related activity during the nine months then ended, is as follows (option amount in thousands): Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2014 242 $ 17.00 Granted 206 24.40 Exercised (3 ) 17.00 Forfeited or expired (16 ) 20.81 Stock options outstanding at June 30, 2015 429 20.41 Exercisable at June 30, 2015 221 19.52 Vested or projected to vest as of June 30, 2015 420 20.41 The following assumptions were used in the determination of the grant date fair values using the Black-Scholes option pricing model and based on the value of FGL's common stock for stock options granted during the nine months ended June 30, 2015 : Weighted average fair value per options granted $5.02 - $4.23 Risk-free interest rate 1.4% Assumed dividend yield 1.2% Expected option term 4.5 years Volatility 25.0% The following assumptions were used in the determination of the grant date fair values using the Black-Scholes option pricing model for the former Chief Executive Officer's modified stock options and based on the value of FGL's common stock: Weighted average fair value per option modified $2.53 Risk-free interest rate 0.2% Assumed dividend yield 1.2% Expected option term 0.75 years Volatility 25.0% Expected volatility is based on the historical volatility of FGL’s stock price for awards granted in 2015. On October 6, 2014, FGL granted 12 thousand restricted shares to a certain officer under the Omnibus Plan. These shares cliff vest in one year. The total fair value of the restricted shares granted to this officer on their grant date was $0 . On November 19, 2014, FGL also granted 100 thousand restricted shares to a certain director under the Omnibus Plan. These shares vest in three tranches; 20% on the first anniversary of the grant date; 50% on the second anniversary of the grant date; and 30% on the third anniversary of the grant date. The total fair value of the restricted shares granted to a certain director on their grant date was $2 . On December 1, 2014, FGL also granted 138 thousand restricted shares to certain directors, officers and other key employees under the Omnibus Plan. These shares vest in equal installments over a period of three years. The total fair value of the restricted shares granted to certain officers, directors and key employees on their grant date was $3 . On February 11, 2015, FGL also granted 48 thousand restricted shares to certain directors under the Omnibus Plan. 40 thousand shares vest in three tranches; 20% on the first anniversary of the grant date; 50% on the second anniversary of the grant date; and 30% on the third anniversary of the grant date and the remaining shares granted on February 11, 2015 vest in equal installments over a period of three years. The total fair value of the restricted shares granted to certain officers, directors and key employees on their grant date was $1 . On March 18, 2015, the expected requisite service periods for board members and executives that received certain FGL restricted shares granted on November 19, 2014 and February 11, 2015 were completed resulting in expense acceleration under the terms of the original awards due to their resignation from the Company’s Board and all related committee positions of the two grantees. The Company recognized additional compensation expense of $3 as a result of the related equity compensation expense acceleration. On May 11, 2015, FGL granted 27 thousand restricted shares to a certain officer under the Omnibus Plan. These shares vest in equal installments over a period of three years. The total fair value of the restricted shares granted to a certain officer the grant date was $1 . A summary of FGL’s restricted shares outstanding as of June 30, 2015 , and related activity during the nine months then ended, is as follows (share amount in thousands): Restricted Stock Awards Shares Weighted Average Grant Date Fair Value Nonvested restricted shares outstanding at September 30, 2014 172 $ 18.18 Granted 325 23.57 Vested (227 ) 21.61 Forfeited or expired (18 ) 21.62 Nonvested restricted shares outstanding at June 30, 2015 252 21.91 On October 6, 2014, FGL also granted 32 thousand performance restricted stock units (“PRSUs”) to a senior executive officer under the Omnibus Plan. These units vest on September 30, 2016, contingent on the satisfaction of performance criteria and on the officer's continued employment unless otherwise noted in the agreement. PRSUs subject to vesting are adjusted based on FGL's financial yearly performance, which is evaluated on two non-GAAP measures: (1) adjusted operating income, and (2) return on equity. Depending on the performance results for each year, the ultimate payout of PRSUs could range from zero to 200% of the target award for each year. One-half of the award is earned based on each year’s results. The total fair value of the PRSUs on the grant date of October 6, 2014 assuming attainment of the target performance level in each year was $1 . A summary of PRSUs outstanding as of June 30, 2015 , and related activity during the nine months then ended, is as follows (share amount in thousands): Performance Restricted Stock Units (PRSUs) Shares Weighted Average Grant Nonvested PRSUs outstanding at September 30, 2014 578 $ 17.37 Granted, including 8 additional units based on 2014 financial performance 40 20.36 Vested (45 ) 17.00 Forfeited (72 ) 17.00 Nonvested PRSUs outstanding at June 30, 2015 501 17.69 Additionally, on October 6, 2014 and February 11, 2015, FGL granted unrestricted shares totaling 8 thousand and 1 thousand , respectively to certain directors in payment for services rendered. Total fair value of the unrestricted shares on the grant date was $0 and $0 , respectively. FGLH Plans A summary of FGLH's outstanding stock options as of June 30, 2015 , and related activity during the nine months then ended, is as follows (share amount in thousands): FGLH Stock Option Awards Options Weighted Average Exercise Price (a) Stock options outstanding at September 30, 2014 225 $ 46.19 Granted — — Exercised (75 ) 44.89 Forfeited or expired (1 ) 49.45 Stock options outstanding at June 30, 2015 149 46.81 Vested and exercisable at June 30, 2015 123 46.23 Vested or projected to vest as of June 30, 2015 148 46.79 (a) The exercise price is based on the value of FGLH’s common stock, not the value of the Company’s common stock. The fair value of FGLH stock at June 30, 2015 is $116.54 per share. At June 30, 2015 , the intrinsic value of stock options outstanding, exercisable and vested or expected to vest was $10 , $9 and $10 , respectively. At June 30, 2015 , the weighted average remaining contractual term of stock options outstanding, exercisable and vested or expected to vest was 3 , 2 and 3 , respectively. The intrinsic value of stock options exercised during the nine months ended June 30, 2015 and 2014 was $4 and $6 , respectively. A summary of FGLH's restricted stock units outstanding as of June 30, 2015 and related activity during the nine months then ended is as follows (share amount in thousands): Restricted Stock Awards Shares Weighted Average Grant Date Fair Value (a) Nonvested restricted shares outstanding at September 30, 2014 26 $ 49.55 Granted — — Vested (14 ) 49.55 Forfeited (1 ) 49.45 Nonvested restricted stock units outstanding at June 30, 2015 11 49.57 (a) Fair value is based on the value of FGLH’s common stock, not the value of the Company’s common stock. The primary assumption used in the determination of the fair value of FGLH’s awards is the value of the Company’s common stock, which was $23.63 and $21.35 as of June 30, 2015 and September 30, 2014 , respectively, with other assumptions as summarized in our 2014 Form 10-K.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes represents federal income taxes. The effective tax rates for the three and nine month periods ended June 30, 2015 were 33% and 37% , respectively. The effective tax rates for the three and nine month periods ended June 30, 2014 were 30% and 7% , respectively. The effective tax rate on pre-tax income differs from the U.S Federal statutory rate primarily due to current period changes to the Company’s valuation allowance. The largest component impacting the current nine month period is the valuation established against non-life losses which include impairment losses compared to the prior nine month period which did not have any non-life impairment losses. The largest component impacting the effective tax rate for the comparative nine month period was a valuation allowance release of $35 relating to the implementation of the tax planning strategy discussed below. The Company maintains a valuation allowance against certain U.S. Internal Revenue Code, Section 382 ("Section 382") limited capital loss carry forwards and the deferred tax assets of its non-life insurance company subsidiaries. A valuation allowance has been placed against Section 382 limited capital loss carry forwards to reduce these deferred tax assets to an amount that is more-likely than not to be realized before the attributes expire. The non-life insurance company subsidiaries have a history of losses and insufficient sources of future income in order to recognize any portion of their deferred tax assets. All other deferred tax assets are more likely than not to be realized based on expectations as to our future taxable income and considering all other available evidence, both positive and negative. The valuation allowance is reviewed quarterly and will be maintained until there is sufficient positive evidence to support a release. At each reporting date, management considers new evidence, both positive and negative, that could impact the future realization of deferred tax assets. Management will consider a release of the valuation allowance once there is sufficient positive evidence that it is more likely than not that the deferred tax assets will be realized. Any release of the valuation allowance will be recorded as a tax benefit increasing net income or other comprehensive income. During the period ended March 31, 2014, market conditions changed sufficiently that Management determined it was prudent and feasible to adopt a new tax planning strategy. The strategy involved repositioning a portion of the investment portfolio to trigger $100 in net unrealized built-in gains (“NUBIG”). The sale of these assets will result in an increase to the Company’s Section 382 limit (i.e. the “adjusted limit”), enabling the Company to utilize capital loss carry forwards that will offset NUBIG-related gains. This strategy makes it more likely than not that the amount of capital loss carryforwards needed to offset those gains will be utilized. Therefore, a partial release of the valuation allowance offsetting the deferred tax asset related to capital loss carry forwards was recorded at the March 31, 2014 reporting date. Management intends to execute the remaining transactions prior to the expiration of Section 382-limited capital loss carry forwards. As of June 30, 2015 , approximately $93 of NUBIG has been recognized locking in $33 in tax benefits. The Company currently has capital loss carry forwards of $220 that are set to expire December 31, 2015. As of June 30, 2015 , the Company had a partial valuation allowance of $121 against its gross deferred tax assets of $321 . The valuation allowance is an offset to capital loss carryforwards (post tax planning strategy execution) expected to expire, as well as non-life company deferred tax assets that will most likely not be recovered due to lack of forecasted taxable income in the non-life segment.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company has unfunded investment commitments as of June 30, 2015 based upon the timing of when investments are executed compared to when the actual investments are funded, as some investments require that funding occur over a period of months or years. A summary of unfunded commitments by invested asset class are included below: Asset Type June 30, 2015 Other invested assets $ 142 Commercial mortgage loans 48 Fixed maturity securities, available-for-sale 35 Other assets 21 Related party loans 5 Total $ 251 Contingencies Regulatory and Litigation Matters FGL is assessed amounts by the state guaranty funds to cover losses to policyholders of insolvent or rehabilitated insurance companies. Those mandatory assessments may be partially recovered through a reduction in future premium taxes in certain states. At June 30, 2015 , FGL has accrued $4 for guaranty fund assessments which is expected to be offset by estimated future premium tax deductions of $4 . The Company has received inquiries from a number of state regulatory authorities regarding its use of the U.S. Social Security Administration’s Death Master File (the "Death Master File") and compliance with state claims practices regulation. Legislation requiring insurance companies to use the Death Master File to identify potential claims has been enacted in a number of states. As a result of these legislative and regulatory developments, in May 2012, the Company undertook an initiative to use the Death Master File and other publicly available databases to identify persons potentially entitled to benefits under life insurance policies, annuities and retained asset accounts. In addition, the Company has received audit and examination notices from several state agencies responsible for escheatment and unclaimed property regulation in those states and in some cases has challenged the audits. The Company established a contingency of $2 based on its estimates related to the external legal costs and administrative costs of challenging said audits and examinations of which $2 has been paid through June 30, 2015 . Additional costs that cannot be reasonably estimated as of the date of this filing are possible as a result of ongoing regulatory developments and other future requirements related to this matter. The Company is involved in various pending or threatened legal proceedings, including purported class actions, arising in the ordinary course of business. In some instances, these proceedings include claims for unspecified or substantial punitive damages and similar types of relief in addition to amounts for alleged contractual liability or requests for equitable relief. In the opinion of management and in light of existing insurance and other potential indemnification, reinsurance and established reserves, such litigation is not expected to have a material adverse effect on the Company’s financial position, although it is possible that the results of operations and cash flows could be materially affected by an unfavorable outcome in any one period. Except for the Eddie L. Cressy v. Fidelity Guaranty [sic] Life Insurance Company, et. al. class action Complaint and the complaint filed by Dale R. Ludwick, discussed below, there has been no material updates to our legal proceedings during the period. See "Note 14. Commitments and Contingencies" in our 2014 Form 10-K for a detailed discussion of our legal proceedings. On July 5, 2013, a putative class action Complaint was filed in the Superior Court of California, County of Los Angeles (the "Court"), captioned Eddie L. Cressy v. Fidelity Guaranty [sic] Life Insurance Company, et. al. Case No. BC-514340. The state court Complaint asserts, inter alia, that the Plaintiff and members of the putative class relied on Defendants’ advice in purchasing unsuitable equity-indexed insurance policies. On April 4, 2014, the Plaintiff, FGL Insurance and the other two defendants signed a Settlement Agreement, pursuant to which FGL Insurance has agreed to pay a total of $5 to settle the claims of a nationwide class consisting, with certain exclusions, of all persons who own or owned an OM Financial/FGL Insurance indexed universal life insurance policy issued from January 1, 2007 through March 31, 2014, inclusive. As part of the settlement, FGL Insurance agreed to certification of the nationwide class for settlement purposes only. An Amended Settlement Agreement was filed with the Court on June 5, 2014. On January 2, 2015, the Court entered the Final Judgment in Cressy, certifying the class for settlement purposes, and approving the class settlement. The implementation shall commence on or about August 10, 2015. The parties will advise the Court when the settlement is complete. At June 30, 2015 , the Company estimated the total cost for the settlement, legal fees and other costs related to this class action would be $9 and with a liability for the unpaid portion of the estimate of $3 . The Company has incurred and paid $4 related to legal fees and other costs and $2 related to settlement costs as of June 30, 2015 . Based on the information currently available the Company does not expect the actual cost for settlement, legal fees and other related costs to differ materially from the amount accrued. The Company had been seeking indemnification from OM Group (UK) Limited (“OMGUK”) under the First Amended and Restated Stock Purchase Agreement, dated February 17, 2011 (the “F&G Stock Purchase Agreement”) between FGL (previously, HFG) and OMGUK related to the settlement and the costs and fees in defending the Cressy litigation in both the federal and state courts. The settlement, legal fees and other costs related to this class action and the amount recovered from OMGUK is presented net in the Condensed Consolidated Statements of Operations in “Benefits and other changes in policy reserves.” During the third quarter of 2015, the Company, HRG and OMGUK reached a global settlement which resolves all prior outstanding claims, resulting in the Company receiving $4 in settlement of its outstanding recoverable related to the Cressy litigation. On January 7, 2015, a putative class action complaint was filed in the United States District Court, Western District of Missouri, captioned Dale R. Ludwick, on behalf of Herself and All Others Similarly Situated v. Harbinger Group Inc., Fidelity & Guaranty Life Insurance Company, Raven Reinsurance Company, and Front Street Re (Cayman) Ltd. and docketed at 4:15-CV-0001-DGK. The complaint alleges violations of the Racketeer Influenced and Corrupt Organizations Act ("RICO") requests injunctive and declaratory relief seeks unspecified compensatory damages for the putative class in an amount not presently determinable, treble damages, and other relief, and claims the plaintiff overpaid at least $0 for her annuity. The Company believes it has meritorious defenses and intends to vigorously defend the litigation. On April 13, 2015, the Company joined in the filing of a joint motion to dismiss the complaint that was filed by all of the defendants. The motion has been fully briefed and is pending before the Court. As of June 30, 2015 , the Company did not have sufficient information to determine whether the Company is exposed to any losses that would be either probable or reasonably estimable beyond an expense contingency estimate of $1 , which was accrued during the three months ended June 30, 2015 . On April 2, 2015, the Court entered a Scheduling Order, which required the parties to: (i) hold a discovery conference by June 1, 2015; (ii) submit a discovery plan by June 15, 2015, with Plaintiff’s counsel taking the lead “in preparing the proposed plan”; (iii) designate a mediator by June 15, 2015 (unless the discovery conference is held earlier, and then the designation is fourteen days after the conference); (iv) hold a mediation within 75 days after June 1, 2015, which would be approximately August 15, 2015. As ordered by the Court, the parties held their discovery conference and, on June 15, 2015, filed their discovery plan with the Court. The parties intend to hold the ordered mediation. On July 13, 2015 the Court entered its Scheduling and Trial Order, which provides that "[t]he trial will be scheduled by further order of the Court." In light of the inherent uncertainties involved in the matter aforementioned, there can be no assurance that the litigation discussed above, or any other pending or future litigation, will not have a material adverse effect on our business, financial condition, or results of operations in a quarterly period.

Reinsurance

Reinsurance	9 Months Ended
	Jun. 30, 2015
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance The Company reinsures portions of its policy risks with other insurance companies. The use of reinsurance does not discharge an insurer from liability on the insurance ceded. The insurer is required to pay in full the amount of its insurance liability regardless of whether it is entitled to or able to receive payment from the reinsurer. The portion of risks exceeding the Company's retention limit is reinsured with other insurers. The Company seeks reinsurance coverage in order to limit its exposure to mortality losses and enhance capital management. The Company follows reinsurance accounting when there is adequate risk transfer. Otherwise, the deposit method of accounting is followed. The Company also assumes policy risks from other insurance companies. The effect of reinsurance on premiums earned, benefits incurred and reserve changes for the three and nine months ended June 30, 2015 and 2014 were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 68 $ 133 $ 65 $ 324 $ 195 $ 666 $ 200 $ 877 Assumed — (15 ) 9 6 17 1 28 19 Ceded (51 ) (40 ) (61 ) (88 ) (169 ) (193 ) (187 ) (258 ) Net $ 17 $ 78 $ 13 $ 242 $ 43 $ 474 $ 41 $ 638 Amounts payable or recoverable for reinsurance on paid and unpaid claims are not subject to periodic or maximum limits. During the three and nine months ended June 30, 2015 and 2014 , the Company did not write off any reinsurance balances. During the three and nine months ended June 30, 2015 and 2014 , the Company did not commute any ceded reinsurance. No policies issued by the Company have been reinsured with any foreign company, which is controlled, either directly or indirectly, by a party not primarily engaged in the business of insurance. The Company has not entered into any reinsurance agreements in which the reinsurer may unilaterally cancel any reinsurance for reasons other than non-payment of premiums or other similar credit issues. Effective September 17, 2014, FGL Insurance entered into a second reinsurance treaty with FSRCI whereby FGL Insurance ceded 30% of any new business of its multi-year guaranteed annuity block of business ("MYGA") issued effective September 17, 2014 and later on a funds withheld basis. This treaty was subsequently terminated as to new business effective April 30, 2015 but will remain in effect for policies ceded to FSRCI with an effective date between September 17, 2014 and April 30, 2015. Accordingly, policies issued with an effective date of May 1, 2015 and later will not be ceded to FSRCI. Effective April 1, 2015 Security Life of Denver ("SLD") recaptured a traditional life block of business previously assumed by the Company and simultaneously ceded to Wilton Re.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions FSRCI We have reinsured certain of our liabilities and obligations to FSRCI. As we are not relieved of our liability to the ceding companies for this business, the liabilities and obligations associated with the reinsured policies remain on our Condensed Consolidated Balance Sheets with a corresponding reinsurance recoverable from FSRCI. In addition to various remedies that we would have in the event of a default by FSRCI, we continue to hold assets in support of the transferred reserves. At June 30, 2015 and September 30, 2014 , the Company's reinsurance recoverable included $1,259 and $1,267 , respectively, related to FSRCI and funds withheld for reinsurance liabilities included $1,288 and $1,293 , respectively, related to FSRCI. Below are the ceded operating results to FSRCI for the three and nine months ended June 30, 2015 and 2014 : Three Months Ended Nine Months Ended Revenues: June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Premiums $ 1 $ — $ 1 $ 1 Net investment income 14 14 47 46 Net investment (losses) gains (3 ) 10 (18 ) 21 Insurance and investment product fees 1 1 3 4 Total revenues 13 25 33 72 Benefits and expenses: Benefits and other changes in policy reserves (7 ) (17 ) (35 ) (50 ) Acquisition & operating expenses, net of deferrals (1 ) (1 ) (3 ) (5 ) Total benefits and expenses (8 ) (18 ) (38 ) (55 ) Operating income (loss) $ 5 $ 7 $ (5 ) $ 17 FGL Insurance participates in loans to third parties originated by Salus, an affiliated, limited liability company indirectly owned by HRG. Salus is also considered a VIE as described in “Note 4. Investments” to the Company’s Condensed Consolidated Financial Statements. Salus originated senior secured asset-based loans to unaffiliated third-party borrowers. In addition to the participation in loans originated by Salus, FGL Insurance also agreed to provide Salus with financing in the form of a revolving loan and promissory note. In January 2014, FSRCI acquired preferred equity interests in Salus which have a 10% per annum return and a total par value of $30 which is included in the FSRCI funds withheld portfolio. Accordingly all income on this asset is ceded to FSRCI. The Company’s maximum exposure to loss as a result of its investments in Salus is limited to the carrying value of the preferred equity interests, the promissory note and any amounts owed under the revolving loan as reported in its balance sheet. The carrying value of these investments in Salus as of June 30, 2015 and September 30, 2014 are disclosed in the tables below. On February 27, 2015, FGL Insurance entered into a transaction with Salus whereby Salus transferred $14 of loan participations and $16 of CLO subordinated debt (i.e., equity tranche) to FGL Insurance in exchange for retirement of the $20 promissory note and $10 revolving loan owed by Salus to FGL Insurance resulting in the termination of these facilities. Additionally, FGL Insurance also entered into a transaction with the Salus CLO whereby FGL insurance transferred $29 of loan participations into the CLO in exchange for $27 of CLO subordinated notes (i.e., equity tranche) and a promissory note of $2 from Salus. Both transactions qualified as sales of financial assets accounted for at fair value and therefore did not result in any gain or loss. FGL Insurance also concluded that it is not the primary beneficiary of the Salus CLO before and after these two transactions as FGL Insurance lacks the power to direct the activities that significantly affect the economic performance of the CLO and, to a lesser extent, FGL Insurance continues to own less than a majority ownership of the CLO subordinated notes after the two transactions. Please refer to "Note 4. Investments" to the Company’s Consolidated Financial Statements for details on the impairments of the Salus preferred equity interest recognized in the second and third fiscal quarters 2015. Please refer to "Note 5. Derivatives" to the Company’s Consolidated Financial Statements for disclosure of a new Canadian dollar foreign exchange swap agreement for two of our Salus loan participations that was executed during the second fiscal quarter 2015. The Company’s consolidated related party investments as of June 30, 2015 and September 30, 2014 , and related net investment income for the three and nine months ended June 30, 2015 and 2014 are summarized as follows: June 30, 2015 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available-for-sale $ 257 $ 1 $ 258 Fortress Investment Group CLOs Fixed maturities, available-for-sale 203 2 205 Salus preferred equity (a) Equity securities, available-for-sale 3 — 3 Salus participations (b) Other invested assets 173 1 174 Energy & Infrastructure Capital ("EIC") participations Other Invested Assets 9 — 9 Foreign exchange derivatives and embedded derivatives Other invested assets 12 — 12 HGI energy loan (c) Related party loans 70 — 70 Salus 2012 participations Related party loans 4 — 4 Salus promissory note Related party loans 3 — 3 (a) Salus preferred equity is included in the FSRCI funds withheld portfolio, accordingly all income on this asset is ceded to FSRCI. (b) Includes loan participations with 19 different borrowers with an average loan fair value of $9 as of June 30, 2015. (c) $20 of the total HGI energy loan is included in the FSRCI funds withheld portfolio, accordingly the income related to this portion is ceded to FSRCI. September 30, 2014 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available-for-sale $ 239 $ 1 $ 240 Fortress Investment Group CLOs Fixed maturities, available-for-sale 195 2 197 Salus preferred equity(a) Equity securities, available-for-sale 34 — 34 Salus participations Other invested assets 213 2 215 Foreign exchange embedded derivative Other invested assets 2 — 2 HGI energy loan (b) Related party loans 70 2 72 Salus 2012 participations Related party loans 11 — 11 Salus promissory note Related party loans 20 — 20 Salus revolver Related party loans 10 — 10 (a) Salus preferred equity is included in the FSRCI funds withheld portfolio, accordingly all income on this asset is ceded to FSRCI. (b) $20 of the total HGI energy loan is included in the FSRCI funds withheld portfolio, accordingly the income related to this portion is ceded to FSRCI. Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Type Investment Income Classification Net investment income Net investment income Net investment income Net investment income Salus CLOs Fixed maturities $ 3 $ 3 $ 9 $ 9 Fortress Investment Group CLOs Fixed maturities 2 1 6 1 Leucadia National Corporation Fixed Maturities — 1 — 1 Jefferies Group Inc. Fixed Maturities — 1 — 3 Salus participations Other invested assets 4 4 12 14 HGI energy loan Related party loans 2 1 4 3 Salus 2012 participations Related party loans — — — 1 Salus promissory note Related party loans — 1 1 1 The Company had realized foreign exchange losses of $0 and $3 for the three and nine months ended June 30, 2015 , respectively, related to its CAD denominated loan participations originated by Salus. Additionally, the Company had foreign exchange derivative and embedded derivative losses of $1 and gains of $10 for the three and nine months ended June 30, 2015 , respectively, included in other invested assets. The Company had foreign exchange losses of $1 and $1 and foreign exchange embedded derivative gains of $1 and $1 for the three and nine months ended June 30, 2014 , respectively. See "Note 5. Derivatives" to the Company’s Consolidated Financial Statements for further details. During the third quarter of 2015, Salus initiated a restructuring of the Salus CLOs pursuant a special redemption of outstanding debt tranches with the intent of reducing the CLO’s outstanding leverage and borrowing costs. FGL and other affiliates notified Salus of its desire to be excluded from the special redemption. The redemption did not affect the subordinated notes of the CLO and, therefore, the ownership percentage of the Company’s position in the CLO equity tranche remains unchanged. The Company had realized impairment losses of $3 and $27 on available-for-sale fixed maturity securities and $1 and $36 on other invested assets for the three and nine months ended June 30, 2015 , respectively. The year to date amount included $35 in fixed maturities, available for sale and other invested assets, respectively due to direct and indirect investments in RSH included within the Salus CLOs and the Salus participations. See "Note 4. Investments" to the Company’s Consolidated Financial Statements for further details.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (share amounts in thousands): Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net income attributable to common shares - basic $ 86 $ 57 $ 88 $ 124 Weighted-average common shares outstanding - basic 58,058 58,271 58,126 55,195 Dilutive effect of unvested restricted stock & PRSU 143 167 168 113 Dilutive effect of stock options 40 37 33 22 Weighted-average shares outstanding - diluted 58,241 58,475 58,327 55,330 Net income per common share: Basic $ 1.48 $ 0.97 $ 1.51 $ 2.25 Diluted $ 1.48 $ 0.97 $ 1.51 $ 2.24 The number of shares of common stock outstanding used in calculating the weighted average thereof reflects the actual number of FGL shares of common stock outstanding, excluding unvested restricted stock and shares held in treasury. The calculation of diluted earnings per share for the three and nine months ended June 30, 2015 excludes the incremental effect related to certain outstanding stock options and restricted stock due to their anti-dilutive effect. The number of weighted average equivalent shares excluded is 24 shares for the three months ended June 30, 2015 and 22 shares for the nine months ended June 30, 2015 . Also, stock-based compensation awards under the FGLH Plans are settled in cash and, therefore, are excluded from the computation of diluted earnings per share.

Insurance Subsidiary Financial

Insurance Subsidiary Financial Information and Regulatory Matters	9 Months Ended
	Jun. 30, 2015
Insurance [Abstract]
Insurance Subsidiary Financial Information and Regulatory Matters	Insurance Subsidiary Financial Information and Regulatory Matters FGL Insurance’s statutory carrying value of Raven Re reflects the effect of permitted practices Raven Re received to treat the available amount of a letter of credit as an admitted asset which increased Raven Re’s statutory capital and surplus by $233 and $251 at June 30, 2015 and September 30, 2014 , respectively. Raven Re is also permitted to follow Iowa prescribed statutory accounting practice for its reserves on reinsurance assumed from FGL Insurance which increased Raven Re’s statutory capital and surplus by $8 and $19 at June 30, 2015 and September 30, 2014 , respectively. Without such permitted statutory accounting practices Raven Re’s statutory capital and surplus would be negative $49 and negative $81 as of June 30, 2015 and September 30, 2014 , respectively, and its risk-based capital would fall below the minimum regulatory requirements. The letter of credit facility is collateralized by National Association of Insurance Commissioners (“NAIC”) 1 rated debt securities. If the permitted practice was revoked, the letter of credit could be replaced by the collateral assets with Nomura’s consent. FGL Insurance’s statutory carrying value of Raven Re at June 30, 2015 and September 30, 2014 was $192 and $189 , respectively. On November 1, 2013, FGL Insurance re-domesticated from Maryland to Iowa. After re-domestication, FGL Insurance elected to apply Iowa-prescribed accounting practices that permit Iowa-domiciled insurers to report equity call options used to economically hedge FIA index credits at amortized cost for statutory accounting purposes and to calculate FIA statutory reserves such that index credit returns will be included in the reserve only after crediting to the annuity contract. This resulted in a $20 increase to statutory capital and surplus at June 30, 2015. Also, the Iowa Insurance Division granted FGL Insurance a permitted statutory accounting practice to reclassify its negative unassigned surplus balance of $806 (unaudited) to additional paid in capital as of April 6, 2011, the date the Company acquired FGL Insurance, which will have the effect of setting FGL Insurance’s statutory unassigned surplus to zero as of this date. The prescribed and permitted statutory accounting practice has no impact on the Company’s consolidated financial statements which are prepared in accordance with GAAP.

Significant Accounting Polici24

Significant Accounting Policies and Practices (Policies)	9 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and all other entities in which FGL has a controlling financial interest (none of which are variable interest entities). All intercompany accounts and transactions have been eliminated in consolidation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Investments in Qualified Affordable Housing Projects In January 2014, the Financial Accounting Standards Board ("FASB") issued amended guidance (ASU 2014-01, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Project ) which allows investors in Low Income Housing Tax Credit (“LIHTC”) programs that meet specified conditions to present the net tax benefits (net of the amortization of the cost of the investment) within income tax expense. The cost of the investments that meet the specified conditions will be amortized in proportion to (and over the same period as) the total expected tax benefits, including the tax credits and other tax benefits, as they are realized on the tax return. The guidance is required to be applied retrospectively, if investors elect the proportional amortization method. However, if investors have existing LIHTC investments accounted for under the effective-yield method at adoption, they may continue to apply that method for those existing investments. The Company early adopted this guidance effective October 1, 2014 for all new LIHTC investments made subsequent to that date. Prior LIHTC investments will continue to be accounted for under the effective-yield method. This adoption did not have a material effect on the Company’s consolidated financial position and results of operations. Share-Based Payments When a Performance Target is achieved after the Requisite Service Period In June 2014, the FASB issued new guidance on Stock Compensation (ASU 2014-12, Accounting for Share-Based Payments When the Term of an Award Provide that a Performance Target Could Be Achieved after the Requisite Service Period ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. The new guidance requires performance targets that affect vesting and that could be achieved after the requisite service period to be treated as performance conditions. Such performance targets would not be included in the grant-date fair value calculation of the award, rather compensation cost should be recorded when it is probable the performance target will be reached and should represent the compensation cost attributable to period(s) for which the requisite service has already been rendered. This standard may be early adopted and the amendments may be applied either prospectively or retrospectively. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements. Amendments to the Consolidation Analysis In February 2015, the FASB issued amended consolidation guidance (ASU 2015-02, Amendments to the Consolidation Analysis ), effective for fiscal years beginning after December 15, 2015. The amended guidance changes the consolidation analysis of reporting entities with variable interest entity ("VIE") relationships by i) modifying the criteria used to evaluate whether limited partnerships and similar legal entities are VIEs or voting interest entities and revising the primary beneficiary determination of a VIE, ii) eliminating the specialized consolidation model and guidance for limited partnerships thereby removing the presumption that a general partner should consolidate a limited partnership, iii) reducing the criteria in the variable interest model contained in Accounting Standards Codification Topic 810, Consolidation , that is used to evaluate whether the fees paid to a decision maker or service provider represents a variable interest, and iv) exempting reporting entities from consolidating money market funds that operate in accordance with Rule 2a-7 of the Investment Company Act of 1940. This standard may be early adopted and the amendments in this Update may be applied with a modified retrospective approach or retrospective approach. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements. Presentation of Debt Issuance Costs In April 2015, the FASB issued amended guidance (ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30 ), Simplifying the Presentation of Debt Issuance Costs), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. The amended guidance requires debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt discounts or premiums. The cost of issuing debt will no longer be recorded as a separate asset, except when incurred before the receipt of the funding from the associated debt liability. Instead, debt issuance costs will be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability, and the costs will be amortized to interest expense using the effective interest method. This standard may be early adopted. The amendments in this Update are required to be applied retrospectively to all prior periods presented in the financial statements. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements. Accounting for Fees Paid in Cloud Computing Arrangements In April 2015, the FASB issued amended guidance (ASU 2015-05, Customer's Accounting for Fees Paid in a Cloud Computing Arrangement ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. Current GAAP does not include explicit guidance regarding a customer's accounting for fees paid in a cloud computing arrangement, which may include software as a service, platform as a service, infrastructure as a service, and other similar hosting arrangements. The amended guidance addresses whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This amended standard may be early adopted. The amendments in this Update may be applied retrospectively to all prior periods presented in the financial statements or prospectively to all arrangements entered into or materially modified after the effective date. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements. Investments That Calculate Net Asset Value per Share In May 2015, the FASB issued amended guidance (ASU 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. Current GAAP requires that investments for which fair value is measured at net asset value (or its equivalent) using the practical expedient in Topic 820 be categorized within the fair value hierarchy using criteria that differ from the criteria used to categorize other fair value measurements within the hierarchy. Currently, investments valued using the practical expedient are categorized within the fair value hierarchy on the basis of whether the investment is redeemable with the investee at net asset value on the measurement date, never redeemable with the investee at net asset value, or redeemable with the investee at net asset value at a future date. For investments that are redeemable with the investee at a future date, a reporting entity must take into account the length of time until those investments become redeemable to determine the classification within the fair value hierarchy. There is diversity in practice related to how certain investments measured at net asset value with redemption dates in the future (including periodic redemption dates) are categorized within the fair value hierarchy. Under the amendments in this Update, investments for which fair value is measured at net asset value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Removing those investments from the fair value hierarchy not only eliminates the diversity in practice resulting from the way in which investments measured at net asset value per share (or its equivalent) with future redemption dates are classified, but also ensures that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share (or its equivalent), but for which the practical expedient is not applied will continue to be included in the fair value hierarchy. The amendments in this Update are required to be applied retrospectively to all prior periods presented in the financial statements. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Securities	The Company’s consolidated investments at June 30, 2015 and September 30, 2014 are summarized as follows: June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for sale securities Asset-backed securities $ 2,164 $ 5 $ (24 ) $ 2,145 $ 2,145 Commercial mortgage-backed securities 814 14 (7 ) 821 821 Corporates 9,362 346 (173 ) 9,535 9,535 Equities 564 23 (4 ) 583 583 Hybrids 1,224 46 (29 ) 1,241 1,241 Municipals 1,378 92 (20 ) 1,450 1,450 Residential mortgage-backed securities 2,100 101 (25 ) 2,176 2,176 U.S. Government 588 9 — 597 597 Total available-for-sale securities 18,194 636 (282 ) 18,548 18,548 Derivative investments 212 47 (39 ) 220 220 Commercial mortgage loans 405 — — 405 405 Other invested assets 224 — (6 ) 218 218 Total investments $ 19,035 $ 683 $ (327 ) $ 19,391 $ 19,391 September 30, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for-sale securities Asset-backed securities $ 2,040 $ 12 $ (20 ) $ 2,032 $ 2,032 Commercial mortgage-backed securities 618 21 (2 ) 637 637 Corporates 9,329 499 (49 ) 9,779 9,779 Equities 679 24 (5 ) 698 698 Hybrids 1,279 52 (15 ) 1,316 1,316 Municipals 1,150 117 (7 ) 1,260 1,260 Residential mortgage-backed securities 1,985 140 (11 ) 2,114 2,114 U.S. Government 291 7 (1 ) 297 297 Total available-for-sale securities 17,371 872 (110 ) 18,133 18,133 Derivatives investments 178 123 (5 ) 296 296 Commercial mortgage loans 136 — — 136 136 Other invested assets 237 — — 237 237 Total investments $ 17,922 $ 995 $ (115 ) $ 18,802 $ 18,802
Amortized Cost and Fair Value of Fixed Maturity Available-for-Sale Securities	The amortized cost and fair value of fixed maturity available-for-sale securities by contractual maturities, as applicable, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or pre-pay obligations. June 30, 2015 Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal and U.S. Government securities: Due in one year or less $ 204 $ 206 Due after one year through five years 2,113 2,153 Due after five years through ten years 2,955 3,015 Due after ten years 6,607 6,788 Subtotal 11,879 12,162 Other securities which provide for periodic payments: Asset-backed securities 2,164 2,145 Commercial mortgage-backed securities 814 821 Structured hybrids 673 661 Residential mortgage-backed securities 2,100 2,176 Subtotal 5,751 5,803 Total fixed maturity available-for-sale securities $ 17,630 $ 17,965
Fair Value and Gross Unrealized Losses of Available-for-Sale-Securities	The fair value and gross unrealized losses of available-for-sale securities, aggregated by investment category, were as follows: June 30, 2015 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-sale securities Asset-backed securities $ 941 $ (10 ) $ 597 $ (14 ) $ 1,538 $ (24 ) Commercial mortgage-backed securities 319 (7 ) 57 — 376 (7 ) Corporates 2,817 (127 ) 894 (46 ) 3,711 (173 ) Equities 60 (1 ) 95 (3 ) 155 (4 ) Hybrids 174 (5 ) 361 (24 ) 535 (29 ) Municipals 339 (13 ) 211 (7 ) 550 (20 ) Residential mortgage-backed securities 496 (13 ) 246 (12 ) 742 (25 ) U.S. Government 350 — 59 — 409 — Total available-for-sale securities $ 5,496 $ (176 ) $ 2,520 $ (106 ) $ 8,016 $ (282 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 787 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 300 Total number of available-for-sale securities in an unrealized loss position 1087 September 30, 2014 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-sale securities Asset-backed securities $ 939 $ (13 ) $ 290 $ (7 ) $ 1,229 $ (20 ) Commercial mortgage-backed securities 160 (1 ) 1 (1 ) 161 (2 ) Corporates 817 (16 ) 1,127 (33 ) 1,944 (49 ) Equities 181 (2 ) 54 (3 ) 235 (5 ) Hybrids 258 (2 ) 290 (13 ) 548 (15 ) Municipals — — 265 (7 ) 265 (7 ) Residential mortgage-backed securities 299 (6 ) 178 (5 ) 477 (11 ) U.S Government 37 — 82 (1 ) 119 (1 ) Total available-for-sale securities $ 2,691 $ (40 ) $ 2,287 $ (70 ) $ 4,978 $ (110 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 324 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 311 Total number of available-for-sale securities in an unrealized loss position 635
Reconciliation of Other-than-Temporary Impairment on Fixed Maturity	The following table provides a reconciliation of the beginning and ending balances of the credit loss portion of OTTI on fixed maturity securities held by the Company for the three and nine months ended June 30, 2015 and 2014 , for which a portion of the OTTI was recognized in AOCI: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Beginning balance $ 3 $ 3 $ 3 $ 3 Increases attributable to credit losses on securities: Other-than-temporary impairment was previously recognized — — — — Other-than-temporary impairment was not previously recognized — — — — Ending balance $ 3 $ 3 $ 3 $ 3 Details underlying write-downs taken as a result of OTTI that were recognized in net income and included in net realized gains on securities were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 OTTI Recognized in Net Income: Asset-backed securities $ 3 $ — $ 27 $ — Corporates — — 2 — Other invested assets 1 1 36 1 Total $ 4 $ 1 $ 65 $ 1 A summary to the RSH-related impairments by investment is as follows: Three months ended March 31, 2015 Type Balance Sheet Classification Impairment Loss CLOs (a) Fixed maturities, available-for-sale $ 25 Preferred equity (a) Equity securities, available-for-sale 21 Participations Other invested assets 35 Impairment, gross of reinsurance $ 81 Preferred equity (a) Equity securities, available-for-sale (21 ) CLOs (a) Fixed maturities, available-for-sale (1 ) Impairment, net of reinsurance $ 59 (a) Preferred equity and a portion of the CLOs are included in the FSRCI funds withheld portfolio, accordingly all income on these assets are ceded to FSRCI.
Schedule of Loans	The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables: June 30, 2015 September 30, 2014 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Industrial - General $ 9 2 % $ — — % Industrial - Warehouse 67 17 % 48 35 % Multifamily 57 14 % 38 28 % Office 129 32 % 44 33 % Retail 129 32 % 6 4 % Funeral Home 1 — % — — % Hotel 13 3 % Total commercial mortgage loans $ 405 100 % $ 136 100 % US Region: East North Central $ 113 28 % $ 28 21 % Middle Atlantic 81 20 % 11 8 % Pacific 81 20 % 61 45 % South Atlantic 56 14 % — — % West North Central 6 1 % 6 4 % West South Central 20 5 % 30 22 % Mountain 42 11 % — — % New England 6 1 % — — % Total commercial mortgage loans $ 405 100 % $ 136 100 %
Schedule of Investment in Mortgage Loans by Loan to Value and Debt Service Coverage Ratios	The following table presents the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios at June 30, 2015 and September 30, 2014 : Debt-Service Coverage Ratios Total Amount % of Total Estimated Fair Value % of Total >1.25 1.00 - 1.25 N/A(a) June 30, 2015 LTV Ratios: Less than 50% $ 93 $ — $ 1 $ 94 23 % $ 94 23 % 50% to 60% 129 20 — 149 37 % 149 37 % 60% to 75% 162 — — 162 40 % 162 40 % Commercial mortgage loans $ 384 $ 20 $ 1 $ 405 100 % $ 405 100 % September 30, 2014 LTV Ratios: Less than 50% $ 44 $ — $ 1 $ 45 33 % $ 45 33 % 50% to 60% 20 — — 20 15 % 20 15 % 60% to 75% 71 — — 71 52 % 71 52 % Commercial mortgage loans $ 135 $ — $ 1 $ 136 100 % $ 136 100 % (a) N/A - Current DSC ratio not available.
Loan Receivable Aging	The following provides the current and past due composition of our CMLs: June 30, 2015 September 30, 2014 Current to 30 days $ 405 $ 136 Past due — — Total carrying value $ 405 $ 136
Net Investment Income	The major sources of “ Net investment income ” on the accompanying Condensed Consolidated Statements of Operations were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Fixed maturity available-for-sale securities $ 199 $ 182 $ 589 $ 532 Equity available-for-sale securities 8 7 26 16 Commercial mortgage loans 3 1 7 2 Related party loans 2 2 5 5 Other investments 5 4 16 16 Gross investment income 217 196 643 571 Investment expense (5 ) (5 ) (15 ) (12 ) Net investment income $ 212 $ 191 $ 628 $ 559
Net Investment Gains	Details underlying “ Net investment gains ” reported on the accompanying Condensed Consolidated Statements of Operations were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net realized gains on fixed maturity available-for-sale securities $ 47 $ 73 $ 24 $ 93 Realized gains (losses) on equity securities 1 — — (1 ) Net realized gains on securities 48 73 24 92 Realized gains on certain derivative instruments 37 57 118 157 Unrealized (losses) gains on certain derivative instruments (44 ) 37 (90 ) 73 Change in fair value of reinsurance related embedded derivative 36 (21 ) 52 (54 ) Change in fair value of other derivatives and embedded derivatives (2 ) 1 10 1 Realized gains on derivatives and embedded derivatives 27 74 90 177 Realized losses on other invested assets (1 ) (2 ) (39 ) (2 ) Net investment gains $ 74 $ 145 $ 75 $ 267

Derivative Financial Instrume26

Derivative Financial Instruments (Tables)	9 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Outstanding Derivative Contracts in Condensed Consolidated Balance Sheets	The carrying amounts of derivative instruments, including derivative instruments embedded in fixed indexed annuity (“FIA”) contracts, is as follows: June 30, 2015 September 30, 2014 Assets: Derivative investments: Call options $ 220 $ 296 Other invested assets: Other derivatives and embedded derivatives 23 13 Other assets: Reinsurance related embedded derivative 128 77 $ 371 $ 386 Liabilities: Contractholder funds: FIA embedded derivative $ 2,174 $ 1,908 Funds withheld for reinsurance liabilities: Call options payable to FSRCI 14 23 Other liabilities: Futures contracts — 1 $ 2,188 $ 1,932
Schedule of Change in Fair Value of Derivative Instruments	The change in fair value of derivative instruments included in the accompanying Condensed Consolidated Statements of Operations is as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Revenues: Net investment (losses) gains: Call options $ (7 ) $ 83 $ 24 $ 205 Futures contracts — 11 4 25 Other derivatives and embedded derivatives (2 ) 1 10 1 Reinsurance related embedded derivative 36 (21 ) 52 (54 ) $ 27 $ 74 $ 90 $ 177 Benefits and other changes in policy reserves FIA embedded derivatives $ (43 ) $ 146 $ 266 $ 320
FGL's Exposure to Credit Loss on Call Options Held	Information regarding the Company’s exposure to credit loss on the call options it holds is presented in the following table: June 30, 2015 September 30, 2014 Counterparty Credit Rating (Fitch/Moody's/S&P) (a) Notional Amount Fair Value Collateral Net Credit Risk Notional Amount Fair Value Collateral Net Credit Risk Merrill Lynch A/*/A $ 2,438 $ 59 $ 15 $ 44 $ 2,240 $ 93 $ 53 $ 40 Deutsche Bank A/A3/BBB+ 2,660 72 39 33 2,810 108 72 36 Morgan Stanley */A1/A 3,747 88 65 23 2,295 85 63 22 Barclay's Bank A/A2/A- 127 1 — 1 258 10 — 10 Total $ 8,972 $ 220 $ 119 $ 101 $ 7,603 $ 296 $ 188 $ 108 (a) An * represents credit ratings that were not available.

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Assets and Liabilities Carrying at Fair Value on Recurring Basis	The carrying amounts and estimated fair values of the Company’s financial instruments for which the disclosure of fair values is required, including financial assets and liabilities measured and carried at fair value on a recurring basis, with the exception of investment contracts and debt, are summarized according to the hierarchy previously described, as follows: June 30, 2015 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 654 $ — $ — $ 654 $ 654 Fixed maturity securities, available-for-sale: Asset-backed securities — 2,075 70 2,145 2,145 Commercial mortgage-backed securities — 681 140 821 821 Corporates — 8,634 901 9,535 9,535 Hybrids — 1,241 — 1,241 1,241 Municipals — 1,412 38 1,450 1,450 Residential mortgage-backed securities — 2,176 — 2,176 2,176 U.S. Government 413 184 — 597 597 Equity securities available-for-sale 27 547 9 583 583 Derivative financial instruments — 220 — 220 220 Reinsurance related embedded derivative, included in other assets — 128 — 128 128 Other invested assets — 11 207 218 218 Total financial assets at fair value $ 1,094 $ 17,309 $ 1,365 $ 19,768 $ 19,768 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 2,174 $ 2,174 $ 2,174 Derivative instruments - futures contracts — — — — — Investment contracts, included in contractholder funds — — 14,016 14,016 15,530 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 14 — 14 14 Debt — 312 — 312 300 Total financial liabilities at fair value $ — $ 326 $ 16,190 $ 16,516 $ 18,018 September 30, 2014 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 576 $ — $ — $ 576 $ 576 Fixed maturity securities, available-for-sale: Asset-backed securities — 1,958 74 2,032 2,032 Commercial mortgage-backed securities — 554 83 637 637 Corporates — 8,945 834 9,779 9,779 Hybrids — 1,316 — 1,316 1,316 Municipals — 1,223 37 1,260 1,260 Residential mortgage-backed securities — 2,114 — 2,114 2,114 U.S. Government 116 181 — 297 297 Equity securities available-for-sale 59 599 40 698 698 Derivative financial instruments — 296 — 296 296 Reinsurance related embedded derivative, included in other assets — 76 — 76 76 Other invested assets — 2 235 237 237 Total financial assets at fair value $ 751 $ 17,264 $ 1,303 $ 19,318 $ 19,318 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 1,908 $ 1,908 $ 1,908 Derivative instruments - futures contracts — 1 — 1 1 Investment contracts, included in contractholder funds — — 13,109 13,109 14,556 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 22 — 22 22 Debt — 317 — 317 300 Total financial liabilities at fair value $ — $ 340 $ 15,017 $ 15,357 $ 16,787
Schedule of Unobservable Inputs Used for Level Three Fair Value Measurements of Financial Instruments on Recurring Basis	Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments carried at fair value as of June 30, 2015 and September 30, 2014 are as follows: Fair Value at Valuation Range (Weighted average) June 30, 2015 Technique Unobservable Input(s) June 30, 2015 Assets Asset-backed securities $ 33 Broker-quoted Offered quotes 100.00% - 106.75% Asset-backed securities (Salus CLO equity tranche) 37 Third-Party Valuation Offered quotes 55.00% - 58.73% Discount rate 11.00% Constant default rate 2.00% RSH recovery 30.00% Other loan recoveries 48.00% - 100.00% Commercial mortgage-backed securities 140 Broker-quoted Offered quotes 99.88% - 121.50% Corporates 868 Broker-quoted Offered quotes 60.00% - 120.34% Corporates 33 Matrix Pricing Quoted prices 103.51% - 144.25% Municipals 38 Broker-quoted Offered quotes 108.44% Equity securities available-for-sale 6 Matrix Pricing Quoted prices 100.00% Equity securities available-for-sale (Salus preferred equity) 3 Market-approach Yield 11.00% RSH recovery 30.00% Discount rate 11.00% Salus CLO equity 55.17% Other invested assets: Available-for-sale embedded derivative 12 Black Scholes model Market value of AnchorPath fund 100.00% Salus participations 167 Market Pricing Offered quotes 100.00% Salus participation - RSH Corporation 15 Liquidation Value - 30% recovery estimate Sales agreements 100.00% Cash 100.00% Inventory 50.00%- 75.00% of book value Accounts receivable 50.00% - 100.00% of book value Wind-down expenses 100.00% estimated expense Total $ 1,352 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 2,174 Discounted Cash Flow Market value of option 0.00% - 40.86% (2.26%) SWAP rates 1.79% - 2.46% (2.13%) Morality multiplier 80.00% Surrender rates 0.50% - 75.00% (7.00%) Non-performance spread 0.25% Total liabilities at fair value $ 2,174 Fair Value at Valuation Unobservable Range (Weighted average) September 30, 2014 Technique Input(s) September 30, 2014 Assets Asset-backed securities $ 74 Broker-quoted Offered quotes 95.45% - 109.26% (99.26%) Commercial mortgage-backed securities 83 Broker-quoted Offered quotes 105.25% - 121.00% (118.29%) Corporates 832 Broker-quoted Offered quotes 61.67% - 119.75% (100.04%) Corporates 2 Matrix Pricing Quoted prices 142.30% Municipals 37 Broker-quoted Offered quotes 106.64% Equity securities available-for-sale 6 Broker-quoted Offered quotes 99.75% Equity securities available-for-sale 34 Market-approach Yield 8.31% - 9.81% Other invested assets: Available-for-sale embedded derivative 11 Black Scholes model Net asset value of AnchorPath fund 100.00% Salus participations 213 Market Pricing Offered quotes 100.00% Total $ 1,292 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 1,908 Discounted Cash Flow Market value of option 0.00% - 49.82% (3.37%) SWAP rates 1.93% - 2.64% (2.29%) Morality multiplier 80.00% Surrender rates 0.50% - 75.00% (7.00%) Non-performance spread 0.25% Total liabilities at fair value $ 1,908
Changes in Fair Value of Financial Instruments	This summary excludes any impact of amortization of VOBA and DAC. The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended June 30, 2015 Balance at Beginning of Period Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Period Included in Earnings Included in AOCI Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 92 $ (3 ) $ — $ — $ — $ — $ (19 ) $ 70 Commercial mortgage-backed securities 142 — (2 ) — — — — 140 Corporates 925 — (20 ) — (1 ) (3 ) — 901 Municipals 40 — (2 ) — — — — 38 Equity securities available-for-sale 18 (9 ) — — — — — 9 Other invested assets: Available-for-sale embedded derivative 12 — — — — — — 12 Salus participations, included in other invested assets 195 (1 ) 2 — — (14 ) — 182 Total assets at Level 3 fair value $ 1,424 $ (13 ) $ (22 ) $ — $ (1 ) $ (17 ) $ (19 ) $ 1,352 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,217 $ (43 ) $ — $ — $ — $ — $ — $ 2,174 Total liabilities at Level 3 fair value $ 2,217 $ (43 ) $ — $ — $ — $ — $ — $ 2,174 (a) The net transfers out of Level 3 during the three months ended June 30, 2015 were exclusively to Level 2. Nine months ended June 30, 2015 Balance at Beginning of Period Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Period Included in Earnings Included in AOCI Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 74 $ (28 ) $ 2 $ 66 $ (15 ) $ — $ (29 ) $ 70 Commercial mortgage-backed securities 83 — — 57 — — — 140 Corporates 834 2 4 123 (1 ) (37 ) (24 ) 901 Municipals 37 — 1 — — — — 38 Equity securities available-for-sale 40 (30 ) (1 ) — — — — 9 Other invested assets: Available-for-sale embedded derivative 11 1 — — — — — 12 Salus participations, included in other invested assets 213 (38 ) (2 ) 78 — (69 ) — 182 Total assets at Level 3 fair value $ 1,292 $ (93 ) $ 4 $ 324 $ (16 ) $ (106 ) $ (53 ) $ 1,352 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,908 $ 266 $ — $ — $ — $ — $ — $ 2,174 Total liabilities at Level 3 fair value $ 1,908 $ 266 $ — $ — $ — $ — $ — $ 2,174 (a) The net transfers out of Level 3 during the nine months ended June 30, 2015 were exclusively to Level 2. Three months ended June 30, 2014 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 48 $ — $ — $ — $ — $ — $ (5 ) $ 43 Commercial mortgage-backed securities — — — 84 — — — 84 Corporates 657 — 14 89 (1 ) — (14 ) 745 Municipals 36 — 1 — — — — 37 Equity securities available-for-sale 33 — 2 6 — — — 41 Other invested assets: Available-for-sale embedded derivative — — — 11 — — — 11 Salus participations, included in other invested assets 193 — — 4 — (29 ) — 168 Total assets at Level 3 fair value $ 967 $ — $ 17 $ 194 $ (1 ) $ (29 ) $ (19 ) $ 1,129 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,719 $ 146 $ — $ — $ — $ — $ — $ 1,865 Total liabilities at Level 3 fair value $ 1,719 $ 146 $ — $ — $ — $ — $ — $ 1,865 (a) The net transfers out of Level 3 during the three months ended June 30, 2014 were exclusively to Level 2. Nine months ended June 30, 2014 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Balance at End of Included in Included in Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 247 $ — $ (1 ) $ 5 $ — $ — $ (208 ) $ 43 Commercial mortgage-backed securities 5 — 1 84 — — (6 ) 84 Corporates 461 — 18 283 (1 ) (2 ) (14 ) 745 Municipals — — 2 35 — — — 37 Equity securities available-for-sale — — 2 39 — — — 41 Other invested assets: Available-for-sale embedded derivative — — — 11 — — — 11 Salus participations, included in other invested assets 157 — — 109 — (98 ) — 168 Total assets at Level 3 fair value $ 870 $ — $ 22 $ 566 $ (1 ) $ (100 ) $ (228 ) $ 1,129 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,545 $ 320 $ — $ — $ — $ — $ — $ 1,865 Total liabilities at Level 3 fair value $ 1,545 $ 320 $ — $ — $ — $ — $ — $ 1,865 (a) The net transfers out of Level 3 during the nine months ended June 30, 2014 were exclusively to Level 2. There was a $6 transfer within the Level 3 asset class from commercial mortgage-backed securities to asset-backed securities.

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Definite Lived Intangible Assets	Information regarding VOBA and DAC which includes deferred sales inducement, is as follows: VOBA DAC Total Balance at September 30, 2014 $ 59 $ 456 $ 515 Deferrals — 249 249 Less: Amortization related to: Unlocking 3 (5 ) (2 ) Interest 9 16 25 Amortization (57 ) (63 ) (120 ) Add: Adjustment for unrealized investment losses 49 92 141 Balance at June 30, 2015 $ 63 $ 745 $ 808 Accumulated amortization $ 399 VOBA DAC Total Balance at September 30, 2013 $ 192 $ 331 $ 523 Deferrals — 173 173 Less: Amortization related to: Unlocking 22 3 25 Interest 11 10 21 Amortization (59 ) (36 ) (95 ) Add: Adjustment for unrealized investment gains (108 ) (83 ) (191 ) Balance at June 30, 2014 $ 58 $ 398 $ 456 Accumulated amortization $ 330
Estimated Amortization Expense for VOBA and DAC in Future Fiscal Periods	Estimated amortization expense for VOBA in future fiscal periods is as follows: Estimated Amortization Expense Fiscal Year VOBA 2015 8 2016 31 2017 26 2018 21 2019 17 Thereafter 73

Debt (Tables)

Debt (Tables)	9 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Debt	The Company's outstanding debt as of June 30, 2015 and September 30, 2014 is as follows: June 30, 2015 September 30, 2014 Debt $ 300 $ 300 Revolving credit facility — — The interest expense and amortization of debt issuance costs of the Company's debt for the three and nine months ended June 30, 2015 and 2014 , respectively, were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Interest Expense Amortization Interest Expense Amortization Interest Expense Amortization Interest Expense Amortization Debt $ 5 $ 1 $ 5 $ 1 $ 14 $ 3 $ 14 $ 3 Revolving credit facility — — — — — 1 — —

Stock Compensation (Tables)

Stock Compensation (Tables)	9 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Allocation of Share-based Compensation Costs by Plan	The Company recognized total stock compensation expense related to the FGL Plans and FGLH Plans as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 FGL Plans Stock options $ — $ — $ 1 $ — Restricted shares — — 5 — Performance restricted stock units 1 — 3 1 Unrestricted shares — — — 1 1 — 9 2 FGLH Plans Stock Incentive Plan - stock options — 1 1 7 2011 dividend equivalent plan — — — 1 Amended and Restated Stock Incentive Plan - stock options 2 1 4 6 Amended and Restated Stock Incentive Plan - restricted stock units — 1 1 1 2012 dividend equivalent plan 1 — 1 — 3 3 7 15 Total stock compensation expense 4 3 16 17 Related tax benefit 1 1 6 6 Net stock compensation expense $ 3 $ 2 $ 10 $ 11
Allocation of Share-based Compensation Costs by Plan, Unrecognized	Total compensation expense related to the FGL Plans and FGLH Plans not yet recognized as of June 30, 2015 and the weighted-average period over which this expense will be recognized are as follows: Unrecognized Compensation Weighted Average Recognition FGL Plans Stock options $ 1 2 Restricted shares 4 2 Performance restricted stock units 6 1 Unrestricted shares — N/A 11 FGLH Plans Stock Incentive Plan - stock options — N/A 2011 dividend equivalent plan — N/A Amended and Restated Stock Incentive Plan - stock options 1 1 Amended and Restated Stock Incentive Plan - restricted stock units 1 1 2012 dividend equivalent plan — 1 2 Total unrecognized stock compensation expense $ 13 1
Summary of Stock Options Outstanding and Related Activity	A summary of FGLH's outstanding stock options as of June 30, 2015 , and related activity during the nine months then ended, is as follows (share amount in thousands): FGLH Stock Option Awards Options Weighted Average Exercise Price (a) Stock options outstanding at September 30, 2014 225 $ 46.19 Granted — — Exercised (75 ) 44.89 Forfeited or expired (1 ) 49.45 Stock options outstanding at June 30, 2015 149 46.81 Vested and exercisable at June 30, 2015 123 46.23 Vested or projected to vest as of June 30, 2015 148 46.79 (a) The exercise price is based on the value of FGLH’s common stock, not the value of the Company’s common stock. The fair value of FGLH stock at June 30, 2015 is $116.54 per share. A summary of FGL’s outstanding stock options as of June 30, 2015 , and related activity during the nine months then ended, is as follows (option amount in thousands): Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2014 242 $ 17.00 Granted 206 24.40 Exercised (3 ) 17.00 Forfeited or expired (16 ) 20.81 Stock options outstanding at June 30, 2015 429 20.41 Exercisable at June 30, 2015 221 19.52 Vested or projected to vest as of June 30, 2015 420 20.41
Assumptions Used in Determination of Grant Date Fair Values Using Black-Scholes Option Pricing Model	The following assumptions were used in the determination of the grant date fair values using the Black-Scholes option pricing model and based on the value of FGL's common stock for stock options granted during the nine months ended June 30, 2015 : Weighted average fair value per options granted $5.02 - $4.23 Risk-free interest rate 1.4% Assumed dividend yield 1.2% Expected option term 4.5 years Volatility 25.0% The following assumptions were used in the determination of the grant date fair values using the Black-Scholes option pricing model for the former Chief Executive Officer's modified stock options and based on the value of FGL's common stock: Weighted average fair value per option modified $2.53 Risk-free interest rate 0.2% Assumed dividend yield 1.2% Expected option term 0.75 years Volatility 25.0%
Summary of Restricted Stock and Restricted Stock Units Outstanding and Related Activity	A summary of FGLH's restricted stock units outstanding as of June 30, 2015 and related activity during the nine months then ended is as follows (share amount in thousands): Restricted Stock Awards Shares Weighted Average Grant Date Fair Value (a) Nonvested restricted shares outstanding at September 30, 2014 26 $ 49.55 Granted — — Vested (14 ) 49.55 Forfeited (1 ) 49.45 Nonvested restricted stock units outstanding at June 30, 2015 11 49.57 (a) Fair value is based on the value of FGLH’s common stock, not the value of the Company’s common stock. A summary of FGL’s restricted shares outstanding as of June 30, 2015 , and related activity during the nine months then ended, is as follows (share amount in thousands): Restricted Stock Awards Shares Weighted Average Grant Date Fair Value Nonvested restricted shares outstanding at September 30, 2014 172 $ 18.18 Granted 325 23.57 Vested (227 ) 21.61 Forfeited or expired (18 ) 21.62 Nonvested restricted shares outstanding at June 30, 2015 252 21.91
Schedule of Nonvested Performance-based Units Activity	A summary of PRSUs outstanding as of June 30, 2015 , and related activity during the nine months then ended, is as follows (share amount in thousands): Performance Restricted Stock Units (PRSUs) Shares Weighted Average Grant Nonvested PRSUs outstanding at September 30, 2014 578 $ 17.37 Granted, including 8 additional units based on 2014 financial performance 40 20.36 Vested (45 ) 17.00 Forfeited (72 ) 17.00 Nonvested PRSUs outstanding at June 30, 2015 501 17.69

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Investment Commitments	A summary of unfunded commitments by invested asset class are included below: Asset Type June 30, 2015 Other invested assets $ 142 Commercial mortgage loans 48 Fixed maturity securities, available-for-sale 35 Other assets 21 Related party loans 5 Total $ 251

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Jun. 30, 2015
Reinsurance Disclosures [Abstract]
Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes	The effect of reinsurance on premiums earned, benefits incurred and reserve changes for the three and nine months ended June 30, 2015 and 2014 were as follows: Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 68 $ 133 $ 65 $ 324 $ 195 $ 666 $ 200 $ 877 Assumed — (15 ) 9 6 17 1 28 19 Ceded (51 ) (40 ) (61 ) (88 ) (169 ) (193 ) (187 ) (258 ) Net $ 17 $ 78 $ 13 $ 242 $ 43 $ 474 $ 41 $ 638

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Below are the ceded operating results to FSRCI for the three and nine months ended June 30, 2015 and 2014 : Three Months Ended Nine Months Ended Revenues: June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Premiums $ 1 $ — $ 1 $ 1 Net investment income 14 14 47 46 Net investment (losses) gains (3 ) 10 (18 ) 21 Insurance and investment product fees 1 1 3 4 Total revenues 13 25 33 72 Benefits and expenses: Benefits and other changes in policy reserves (7 ) (17 ) (35 ) (50 ) Acquisition & operating expenses, net of deferrals (1 ) (1 ) (3 ) (5 ) Total benefits and expenses (8 ) (18 ) (38 ) (55 ) Operating income (loss) $ 5 $ 7 $ (5 ) $ 17 The Company’s consolidated related party investments as of June 30, 2015 and September 30, 2014 , and related net investment income for the three and nine months ended June 30, 2015 and 2014 are summarized as follows: June 30, 2015 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available-for-sale $ 257 $ 1 $ 258 Fortress Investment Group CLOs Fixed maturities, available-for-sale 203 2 205 Salus preferred equity (a) Equity securities, available-for-sale 3 — 3 Salus participations (b) Other invested assets 173 1 174 Energy & Infrastructure Capital ("EIC") participations Other Invested Assets 9 — 9 Foreign exchange derivatives and embedded derivatives Other invested assets 12 — 12 HGI energy loan (c) Related party loans 70 — 70 Salus 2012 participations Related party loans 4 — 4 Salus promissory note Related party loans 3 — 3 (a) Salus preferred equity is included in the FSRCI funds withheld portfolio, accordingly all income on this asset is ceded to FSRCI. (b) Includes loan participations with 19 different borrowers with an average loan fair value of $9 as of June 30, 2015. (c) $20 of the total HGI energy loan is included in the FSRCI funds withheld portfolio, accordingly the income related to this portion is ceded to FSRCI. September 30, 2014 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available-for-sale $ 239 $ 1 $ 240 Fortress Investment Group CLOs Fixed maturities, available-for-sale 195 2 197 Salus preferred equity(a) Equity securities, available-for-sale 34 — 34 Salus participations Other invested assets 213 2 215 Foreign exchange embedded derivative Other invested assets 2 — 2 HGI energy loan (b) Related party loans 70 2 72 Salus 2012 participations Related party loans 11 — 11 Salus promissory note Related party loans 20 — 20 Salus revolver Related party loans 10 — 10 (a) Salus preferred equity is included in the FSRCI funds withheld portfolio, accordingly all income on this asset is ceded to FSRCI. (b) $20 of the total HGI energy loan is included in the FSRCI funds withheld portfolio, accordingly the income related to this portion is ceded to FSRCI. Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Type Investment Income Classification Net investment income Net investment income Net investment income Net investment income Salus CLOs Fixed maturities $ 3 $ 3 $ 9 $ 9 Fortress Investment Group CLOs Fixed maturities 2 1 6 1 Leucadia National Corporation Fixed Maturities — 1 — 1 Jefferies Group Inc. Fixed Maturities — 1 — 3 Salus participations Other invested assets 4 4 12 14 HGI energy loan Related party loans 2 1 4 3 Salus 2012 participations Related party loans — — — 1 Salus promissory note Related party loans — 1 1 1

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Summary of Basic and Diluted EPS	The following table sets forth the computation of basic and diluted earnings per share (share amounts in thousands): Three months ended Nine months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net income attributable to common shares - basic $ 86 $ 57 $ 88 $ 124 Weighted-average common shares outstanding - basic 58,058 58,271 58,126 55,195 Dilutive effect of unvested restricted stock & PRSU 143 167 168 113 Dilutive effect of stock options 40 37 33 22 Weighted-average shares outstanding - diluted 58,241 58,475 58,327 55,330 Net income per common share: Basic $ 1.48 $ 0.97 $ 1.51 $ 2.25 Diluted $ 1.48 $ 0.97 $ 1.51 $ 2.24

Significant Risks and Uncerta35

Significant Risks and Uncertainties (Details) $ in Millions	9 Months Ended
	Jun. 30, 2015USD ($)Insurers	Sep. 30, 2014USD ($)Insurers
Wilton Reassurance Company
Concentration Risk [Line Items]
Net amount recoverable	$ 1,498
Front Street RE (Cayman) Ltd.
Concentration Risk [Line Items]
Net amount recoverable	1,259
All Financial Instruments
Concentration Risk [Line Items]
FGL's investment securities in the banking industry	$ 1,982	$ 2,240
Exposure of FGL's invested assets	10.00%	12.00%
Number of issuers in investment | Insurers	78
Percentage of total holdings in industry	40.00%
Single Issuer
Concentration Risk [Line Items]
FGL's investment securities in the banking industry	$ 175	$ 185
Exposure of FGL's invested assets	1.00%	1.00%
Number of issuers in investment | Insurers	1
Issuers Over 10% Holdings
Concentration Risk [Line Items]
FGL's investment securities in the banking industry		$ 365
Exposure of FGL's invested assets		2.00%
Number of issuers in investment | Insurers		2

Investments - Available-for-Sal

Investments - Available-for-Sale Securities Table (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	$ 18,194	$ 17,371
Available-for-sale Securities, Gross Unrealized Gains	636	872
Available-for-sale Securities, Gross Unrealized Losses	(282)	(110)
Available-for-sale Securities, Fair Value	18,548	18,133
Available-for-sale Securities, Carrying Value	18,548	18,133
Derivative Investments, Cost or Amortized Cost	212	178
Derivative Investments, Gross Unrealized Gains	47	123
Derivative Investments, Gross Unrealized Losses	(39)	(5)
Derivative Investments, Fair Value	220	296
Derivative Investments, Carrying Value	220	296
Investment, Commercial Mortgage Loans, Amortized Cost	405	136
Commercial Mortgage Loans, Gross Unrealized Gain	0	0
Commercial Mortgage Loans, Gross Unrealized Loss	0	0
Commercial mortgage loans, fair value	405	136
Total carrying value	405	136
Total Investments, Cost or Amortized Cost	19,035	17,922
Total Investments, Gross Unrealized Gains	683	995
Total Investments, Gross Unrealized Losses	(327)	(115)
Total Investment, Fair Value	19,391	18,802
Total Investments, Carrying Value	19,391	18,802
Asset-backed securities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	2,164	2,040
Available-for-sale Securities, Gross Unrealized Gains	5	12
Available-for-sale Securities, Gross Unrealized Losses	(24)	(20)
Available-for-sale Securities, Fair Value	2,145	2,032
Available-for-sale Securities, Carrying Value	2,145	2,032
Commercial mortgage-backed securities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	814	618
Available-for-sale Securities, Gross Unrealized Gains	14	21
Available-for-sale Securities, Gross Unrealized Losses	(7)	(2)
Available-for-sale Securities, Fair Value	821	637
Available-for-sale Securities, Carrying Value	821	637
Corporates
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	9,362	9,329
Available-for-sale Securities, Gross Unrealized Gains	346	499
Available-for-sale Securities, Gross Unrealized Losses	(173)	(49)
Available-for-sale Securities, Fair Value	9,535	9,779
Available-for-sale Securities, Carrying Value	9,535	9,779
Equities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	564	679
Available-for-sale Securities, Gross Unrealized Gains	23	24
Available-for-sale Securities, Gross Unrealized Losses	(4)	(5)
Available-for-sale Securities, Fair Value	583	698
Available-for-sale Securities, Carrying Value	583	698
Hybrids
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	1,224	1,279
Available-for-sale Securities, Gross Unrealized Gains	46	52
Available-for-sale Securities, Gross Unrealized Losses	(29)	(15)
Available-for-sale Securities, Fair Value	1,241	1,316
Available-for-sale Securities, Carrying Value	1,241	1,316
Municipals
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	1,378	1,150
Available-for-sale Securities, Gross Unrealized Gains	92	117
Available-for-sale Securities, Gross Unrealized Losses	(20)	(7)
Available-for-sale Securities, Fair Value	1,450	1,260
Available-for-sale Securities, Carrying Value	1,450	1,260
Residential mortgage-backed securities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	2,100	1,985
Available-for-sale Securities, Gross Unrealized Gains	101	140
Available-for-sale Securities, Gross Unrealized Losses	(25)	(11)
Available-for-sale Securities, Fair Value	2,176	2,114
Available-for-sale Securities, Carrying Value	2,176	2,114
U.S. Government
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	588	291
Available-for-sale Securities, Gross Unrealized Gains	9	7
Available-for-sale Securities, Gross Unrealized Losses	0	(1)
Available-for-sale Securities, Fair Value	597	297
Available-for-sale Securities, Carrying Value	597	297
Other invested assets
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	224	237
Available-for-sale Securities, Gross Unrealized Gains	0	0
Available-for-sale Securities, Gross Unrealized Losses	(6)	0
Available-for-sale Securities, Fair Value	218	237
Available-for-sale Securities, Carrying Value	$ 218	$ 237

Investments - Amortized Cost an

Investments - Amortized Cost and Fair Value of Fixed Maturity Available-for-Sale Securities (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	$ 5,751
Total fixed maturity available-for-sale securities, Amortized Cost	17,630	$ 16,692
Other securities which provide for periodic payments, Fair Value	5,803
Total fixed maturity available-for-sale securities, Fair Value	17,965
U.S. Government
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	204
Due after one year through five years, Amortized Cost	2,113
Due after five years through ten years, Amortized Cost	2,955
Due after ten years, Amortized Cost	6,607
Subtotal, Amortized Cost	11,879
Due in one year or less, Fair Value	206
Due after one year through five years, Fair Value	2,153
Due after five years through ten years, Fair Value	3,015
Due after ten years, Fair Value	6,788
Subtotal, Fair Value	12,162
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	2,164
Other securities which provide for periodic payments, Fair Value	2,145
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	814
Other securities which provide for periodic payments, Fair Value	821
Structured hybrids
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	673
Other securities which provide for periodic payments, Fair Value	661
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	2,100
Other securities which provide for periodic payments, Fair Value	$ 2,176

Investments - Fair Value and Gr

Investments - Fair Value and Gross Unrealized Losses of Available-for-Sale Securities (Detail) $ in Millions	Jun. 30, 2015USD ($)Security	Sep. 30, 2014USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	$ 5,496	$ 2,691
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(176)	(40)
Available-for-sale securities, Fair Value, 12 months or longer	2,520	2,287
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(106)	(70)
Available-for-sale securities, Fair Value, Total	8,016	4,978
Available-for-sale Securities, Gross Unrealized Losses, Total	$ (282)	$ (110)
Total number of available-for-sale securities in an unrealized loss position, Less than 12 months | Security	787	324
Total number of available-for-sale securities in an unrealized loss position, 12 months or longer | Security	300	311
Total number of available-for-sale securities in an unrealized loss position | Security	1,087	635
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	$ 941	$ 939
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(10)	(13)
Available-for-sale securities, Fair Value, 12 months or longer	597	290
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(14)	(7)
Available-for-sale securities, Fair Value, Total	1,538	1,229
Available-for-sale Securities, Gross Unrealized Losses, Total	(24)	(20)
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	319	160
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(7)	(1)
Available-for-sale securities, Fair Value, 12 months or longer	57	1
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	0	(1)
Available-for-sale securities, Fair Value, Total	376	161
Available-for-sale Securities, Gross Unrealized Losses, Total	(7)	(2)
Corporates
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	2,817	817
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(127)	(16)
Available-for-sale securities, Fair Value, 12 months or longer	894	1,127
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(46)	(33)
Available-for-sale securities, Fair Value, Total	3,711	1,944
Available-for-sale Securities, Gross Unrealized Losses, Total	(173)	(49)
Equities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	60	181
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(1)	(2)
Available-for-sale securities, Fair Value, 12 months or longer	95	54
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(3)	(3)
Available-for-sale securities, Fair Value, Total	155	235
Available-for-sale Securities, Gross Unrealized Losses, Total	(4)	(5)
Hybrids
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	174	258
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(5)	(2)
Available-for-sale securities, Fair Value, 12 months or longer	361	290
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(24)	(13)
Available-for-sale securities, Fair Value, Total	535	548
Available-for-sale Securities, Gross Unrealized Losses, Total	(29)	(15)
Municipals
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	339	0
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(13)	0
Available-for-sale securities, Fair Value, 12 months or longer	211	265
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(7)	(7)
Available-for-sale securities, Fair Value, Total	550	265
Available-for-sale Securities, Gross Unrealized Losses, Total	(20)	(7)
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	496	299
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(13)	(6)
Available-for-sale securities, Fair Value, 12 months or longer	246	178
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(12)	(5)
Available-for-sale securities, Fair Value, Total	742	477
Available-for-sale Securities, Gross Unrealized Losses, Total	(25)	(11)
U.S. Government
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	350	37
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	0	0
Available-for-sale securities, Fair Value, 12 months or longer	59	82
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	0	(1)
Available-for-sale securities, Fair Value, Total	409	119
Available-for-sale Securities, Gross Unrealized Losses, Total	$ 0	$ (1)

Investments - Reconciliation of

Investments - Reconciliation of Other than Temporary Impairment on Fixed Maturity (Detail) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Beginning balance	$ 3		$ 3	$ 3	$ 3
Increases attributable to credit losses on securities:
Other-than-temporary impairment was previously recognized	0		0	0	0
Other-than-temporary impairment was not previously recognized	0		0	0	0
Ending balance	3	$ 3	3	3	3
Other-than-temporary impairments	4		1	65	1
OTTI, Net of Reinsurance	4
Front Street RE (Cayman) Ltd.
Increases attributable to credit losses on securities:
Other-than-temporary impairments		81
OTTI, Net of Reinsurance	13	59
Other invested assets
Increases attributable to credit losses on securities:
Other-than-temporary impairments	1			36
Collateralized Loan Obligations
Increases attributable to credit losses on securities:
OTTI, Net of Reinsurance	3
Collateralized Loan Obligations | Fixed maturities, available-for-sale | Front Street RE (Cayman) Ltd.
Increases attributable to credit losses on securities:
Other-than-temporary impairments		25
OTTI, Reinsurance Coverage		(1)
Salus preferred equity (a) | Equity available-for-sale securities | Front Street RE (Cayman) Ltd.
Increases attributable to credit losses on securities:
Other-than-temporary impairments		21
OTTI, Reinsurance Coverage		(21)
Salus Participations | Other invested assets | Front Street RE (Cayman) Ltd.
Increases attributable to credit losses on securities:
Other-than-temporary impairments		$ 35
Asset-backed securities
Increases attributable to credit losses on securities:
Other-than-temporary impairments	3		0	27	0
Corporates
Increases attributable to credit losses on securities:
Other-than-temporary impairments	0		0	2	0
Other invested assets
Increases attributable to credit losses on securities:
Other-than-temporary impairments	$ 1		$ 1	$ 36	$ 1

Investments - Schedule of Comme

Investments - Schedule of Commercial Mortgage Loan Investment (Details) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 405	$ 136
Commercial Mortgage Receivable, Percentage of Total	100.00%	100.00%
East North Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 113	$ 28
Commercial Mortgage Receivable, Percentage of Total	28.00%	21.00%
Middle Atlantic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 81	$ 11
Commercial Mortgage Receivable, Percentage of Total	20.00%	8.00%
Pacific
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 81	$ 61
Commercial Mortgage Receivable, Percentage of Total	20.00%	45.00%
South Atlantic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 56	$ 0
Commercial Mortgage Receivable, Percentage of Total	14.00%	0.00%
West North Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 6	$ 6
Commercial Mortgage Receivable, Percentage of Total	1.00%	4.00%
West South Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 20	$ 30
Commercial Mortgage Receivable, Percentage of Total	5.00%	22.00%
Mountain
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 42	$ 0
Commercial Mortgage Receivable, Percentage of Total	11.00%	0.00%
New England
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 6	$ 0
Commercial Mortgage Receivable, Percentage of Total	1.00%	0.00%
Industrial - General
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 9	$ 0
Commercial Mortgage Receivable, Percentage of Total	2.00%	0.00%
Industrial - Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 67	$ 48
Commercial Mortgage Receivable, Percentage of Total	17.00%	35.00%
Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 57	$ 38
Commercial Mortgage Receivable, Percentage of Total	14.00%	28.00%
Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 129	$ 44
Commercial Mortgage Receivable, Percentage of Total	32.00%	33.00%
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 129	$ 6
Commercial Mortgage Receivable, Percentage of Total	32.00%	4.00%
Funeral Home
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 1	$ 0
Commercial Mortgage Receivable, Percentage of Total	0.00%	0.00%
Hotel
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 13
Commercial Mortgage Receivable, Percentage of Total	3.00%

Investments - Commercial Loans

Investments - Commercial Loans by LTV and DSCR (Details) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 405	$ 136
Commercial Mortgage Receivable, Percentage of Total	100.00%	100.00%
Estimate of Fair Value Measurement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 405	$ 136
Commercial Mortgage Receivable, Percentage of Total	100.00%	100.00%
Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 94	$ 45
Commercial Mortgage Receivable, Percentage of Total	23.00%	33.00%
Less than 50% | Estimate of Fair Value Measurement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 94	$ 45
Commercial Mortgage Receivable, Percentage of Total	23.00%	33.00%
50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 149	$ 20
Commercial Mortgage Receivable, Percentage of Total	37.00%	15.00%
50% to 60% | Estimate of Fair Value Measurement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 149	$ 20
Commercial Mortgage Receivable, Percentage of Total	37.00%	15.00%
60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 162	$ 71
Commercial Mortgage Receivable, Percentage of Total	40.00%	52.00%
60% to 75% | Estimate of Fair Value Measurement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 162	$ 71
Commercial Mortgage Receivable, Percentage of Total	40.00%	52.00%
Greater Than 1.25
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 384	$ 135
Greater Than 1.25 | Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	93	44
Greater Than 1.25 | 50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	129	20
Greater Than 1.25 | 60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	162	71
Greater Than 1.0 But Less Than 1.25
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	20	0
Greater Than 1.0 But Less Than 1.25 | Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	0	0
Greater Than 1.0 But Less Than 1.25 | 50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	20	0
Greater Than 1.0 But Less Than 1.25 | 60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	0	0
Ratio Not Available
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	1	1
Ratio Not Available | Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	1	1
Ratio Not Available | 50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	0	0
Ratio Not Available | 60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial mortgage loans	$ 0	$ 0

Investments - Schedule of Loan

Investments - Schedule of Loan Aging (Details) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current to 30 days	$ 0	$ 0
Total carrying value	405	136
Financing Receivables, 1 to 29 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current to 30 days	$ 405	$ 136

Investments - Net Investment In

Investments - Net Investment Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Investments [Line Items]
Gross investment income	$ 217	$ 196	$ 643	$ 571
External investment expense	(5)	(5)	(15)	(12)
Net investment income	212	191	628	559
Fixed maturity available-for-sale securities
Schedule of Investments [Line Items]
Gross investment income	199	182	589	532
Equity available-for-sale securities
Schedule of Investments [Line Items]
Gross investment income	8	7	26	16
Commercial mortgage loans
Schedule of Investments [Line Items]
Gross investment income	3	1	7	2
Related party loans
Schedule of Investments [Line Items]
Gross investment income	2	2	5	5
Other investments
Schedule of Investments [Line Items]
Gross investment income	$ 5	$ 4	$ 16	$ 16

Investments - Net Investment Ga

Investments - Net Investment Gains (Losses) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Gain (Loss) on Investments [Abstract]
Net realized gains on fixed maturity available-for-sale securities	$ 47	$ 73	$ 24	$ 93
Realized gains (losses) on equity securities	1	0	0	(1)
Net realized gains on securities	48	73	24	92
Realized gains on certain derivative instruments	37	57	118	157
Unrealized (losses) gains on certain derivative instruments	(44)	37	(90)	73
Change in fair value of reinsurance related embedded derivative	36	(21)	52	(54)
Change in fair value of other derivatives and embedded derivatives	(2)	1	10	1
Realized gains on derivatives and embedded derivatives	27	74	90	177
Realized losses on other invested assets	(1)	(2)	(39)	(2)
Net investment gains	$ 74	$ 145	$ 75	$ 267

Investments - Additional Inform

Investments - Additional Information (Detail)	3 Months Ended			9 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)Investmentloan	Mar. 31, 2015USD ($)	Jun. 30, 2014USD ($)Investment	Jun. 30, 2015USD ($)Investmentloan	Jun. 30, 2014USD ($)Investment	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Schedule of Available-for-sale Securities [Line Items]
Non-income producing investments | Investment	0		0	0	0
FHLB collateral pledged	$ 540,000,000			$ 540,000,000			$ 573,000,000
Fair value on securities	67,000,000			$ 67,000,000			0
Percentage of amortized cost				20.00%
Percentage of carrying values of all investments (less than 1%)				1.00%
Other-than-temporary impairments	4,000,000		$ 1,000,000	$ 65,000,000	$ 1,000,000
Available-for-sale Securities, Amortized Cost Basis	18,194,000,000			18,194,000,000			17,371,000,000
Available-for-sale Securities	18,548,000,000			$ 18,548,000,000			18,133,000,000
OTTI, Net of Reinsurance	$ 4,000,000
Number of Loans Past Due	0			0
Loans and Leases Receivable, Impaired, Number | loan				0
Number of loans modified | loan				0
VIE, Not Primary Beneficiary | Salus Capital Partners LLC
Schedule of Available-for-sale Securities [Line Items]
VIE, Maximum loss exposure	$ 263,000,000			$ 263,000,000			304,000,000
VIE, Not Primary Beneficiary | Fifth Street Management LLC
Schedule of Available-for-sale Securities [Line Items]
VIE, Maximum loss exposure	40,000,000			40,000,000			30,000,000
Front Street RE (Cayman) Ltd.
Schedule of Available-for-sale Securities [Line Items]
Other-than-temporary impairments		$ 81,000,000
OTTI, Net of Reinsurance	13,000,000	$ 59,000,000
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Assets held by regulators	15,964,000,000			15,964,000,000			$ 15,009,000,000
Proceeds from sale, maturity and collection of investments				(3,796,000,000)	(4,402,000,000)
Available-for-sale Securities | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sale, maturity and collection of investments	(1,864,000,000)		(1,725,000,000)	(3,670,000,000)	(4,352,000,000)
Gain on sale of investments	53,000,000		75,000,000	73,000,000	97,000,000
Loss on sale of investments	$ (6,000,000)		(2,000,000)	$ (49,000,000)	(4,000,000)
Commercial mortgage loans
Schedule of Available-for-sale Securities [Line Items]
Percent of total investments	2.00%			2.00%			1.00%
Ratio of performing loans	100.00%			100.00%			100.00%
LTV, maximum threshold	75.00%			75.00%			75.00%
Allowance for loan and lease receivable	$ 0			$ 0
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Unrealized gain related to non credit portion of OTTI included in AOCI	1,000,000			1,000,000
Unrealized losses included in AOCI related to the non-credit portion of other than-temporary impairments on non-agency residential-mortgage-backed securities							$ (2,000,000)
Available-for-sale Securities, Amortized Cost Basis	2,100,000,000			2,100,000,000			1,985,000,000
Available-for-sale Securities	2,176,000,000			$ 2,176,000,000			$ 2,114,000,000
Residential mortgage-backed securities | Bank Of America
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Debt Maturities, Weighted Average Life				6 years
Asset Backed Securities and Corporate Securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	156,000,000		2,000,000	$ 156,000,000	2,000,000
Available-for-sale Securities	91,000,000		$ 1,000,000	91,000,000	$ 1,000,000
Collateralized Loan Obligations
Schedule of Available-for-sale Securities [Line Items]
OTTI, Net of Reinsurance	3,000,000
Salus CLOs
Schedule of Available-for-sale Securities [Line Items]
OTTI, Net of Reinsurance	9,000,000
Forecast
Schedule of Available-for-sale Securities [Line Items]
Settlement						$ 18,000,000
Forecast | Minimum
Schedule of Available-for-sale Securities [Line Items]
Settlement						15,000,000
Forecast | Maximum
Schedule of Available-for-sale Securities [Line Items]
Settlement						$ 20,000,000
Commitment to Invest
Schedule of Available-for-sale Securities [Line Items]
Total	251,000,000			251,000,000
Commitment to Invest | Boardwalk I, L.P.
Schedule of Available-for-sale Securities [Line Items]
Total	$ 35,000,000			35,000,000
Investment commitment period	3 years
Commitment to Invest | Crescent Capital BDC Inc.
Schedule of Available-for-sale Securities [Line Items]
Total	$ 75,000,000			$ 75,000,000

Derivative Financial Instrume46

Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Derivative [Line Items]
Total asset derivatives	$ 371	$ 386
Total liability derivatives	2,188	1,932
Call options | Derivative Instruments
Derivative [Line Items]
Total asset derivatives	220	296
Call options | Funds withheld for reinsurance liability
Derivative [Line Items]
Total liability derivatives	14	23
Future | Other liabilities
Derivative [Line Items]
Total liability derivatives	0	1
Other Embedded Derivative | Other invested assets
Derivative [Line Items]
Total asset derivatives	23	13
Embedded derivatives in Reinsurance contracts | Other assets
Derivative [Line Items]
Total asset derivatives	128	77
Fia Embedded Derivatives | Contractholder funds
Derivative [Line Items]
Total liability derivatives	$ 2,174	$ 1,908

Derivative Financial Instrume47

Derivative Financial Instruments - Schedule of Change in Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	$ 36	$ (21)	$ 52	$ (54)
Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	27	74	90	177
Call options | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(7)	83	24	205
Future | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	0	11	4	25
Other Embedded Derivative | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(2)	1	10	1
Embedded derivatives in Reinsurance contracts | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	36	(21)	52	(54)
Fia Embedded Derivatives
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	$ (43)	$ 146	$ 266	$ 320

Derivative Financial Instrume48

Derivative Financial Instruments - FGL's Exposure to Credit Loss on Call Options Held (Detail) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2015	Sep. 30, 2014
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 371	$ 386
Merrill Lynch
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	A/*/A
Deutsche Bank
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	A/A3/BBB+
Morgan Stanley
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	*/A1/A
Barclay's Bank
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	A/A2/A-
Not Designated as Hedging Instrument | Call options
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 8,972	7,603
Derivative Asset, Fair Value, Gross Asset	220	296
Derivative Asset, Collateral, Obligation to Return Cash, Offset	119	188
Derivative Asset, Fair Value, Amount Offset Against Collateral	101	108
Not Designated as Hedging Instrument | Call options | Merrill Lynch
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	2,438	2,240
Derivative Asset, Fair Value, Gross Asset	59	93
Derivative Asset, Collateral, Obligation to Return Cash, Offset	15	53
Derivative Asset, Fair Value, Amount Offset Against Collateral	44	40
Not Designated as Hedging Instrument | Call options | Deutsche Bank
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	2,660	2,810
Derivative Asset, Fair Value, Gross Asset	72	108
Derivative Asset, Collateral, Obligation to Return Cash, Offset	39	72
Derivative Asset, Fair Value, Amount Offset Against Collateral	33	36
Not Designated as Hedging Instrument | Call options | Morgan Stanley
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	3,747	2,295
Derivative Asset, Fair Value, Gross Asset	88	85
Derivative Asset, Collateral, Obligation to Return Cash, Offset	65	63
Derivative Asset, Fair Value, Amount Offset Against Collateral	23	22
Not Designated as Hedging Instrument | Call options | Barclay's Bank
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	127	258
Derivative Asset, Fair Value, Gross Asset	1	10
Derivative Asset, Collateral, Obligation to Return Cash, Offset	0	0
Derivative Asset, Fair Value, Amount Offset Against Collateral	$ 1	$ 10

Derivative Financial Instrume49

Derivative Financial Instruments - Additional Information (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)Contract	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)loanContract	Jun. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2014USD ($)Contract	Jun. 16, 2014USD ($)	Mar. 31, 2014USD ($)	Sep. 30, 2013USD ($)
Derivative [Line Items]
Asset Value	$ 1,352,000,000	$ 1,129,000,000	$ 1,352,000,000	$ 1,129,000,000		$ 1,424,000,000	$ 1,292,000,000		$ 967,000,000	$ 870,000,000
Number of participating loans | loan			5
Number of participating loans with reimbursement provisions | loan			3
Change in fair value of reinsurance related embedded derivative	(36,000,000)	21,000,000	$ (52,000,000)	54,000,000
Number of participating loans without reimbursement provisions | loan			2
Maximum exposure	101,000,000		$ 101,000,000				108,000,000
Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(27,000,000)	(74,000,000)	(90,000,000)	(177,000,000)
Other Embedded Derivative | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	2,000,000	(1,000,000)	(10,000,000)	(1,000,000)
Foreign Exchange Contract | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	1,000,000	1,000,000	(10,000,000)	1,000,000
Call options | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Notional Amount	8,972,000,000		8,972,000,000				7,603,000,000
Collateral posted	119,000,000		119,000,000				188,000,000
Call options | Not Designated as Hedging Instrument | Merrill Lynch
Derivative [Line Items]
Derivative, Notional Amount	2,438,000,000		2,438,000,000				2,240,000,000
Collateral posted	15,000,000		15,000,000				53,000,000
Call options | Not Designated as Hedging Instrument | Other liabilities
Derivative [Line Items]
Collateral posted	104,000,000		104,000,000				135,000,000
Call options | Not Designated as Hedging Instrument | Cash and Cash Equivalents
Derivative [Line Items]
Collateral posted	104,000,000		104,000,000				$ 135,000,000
Call options | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	$ 7,000,000	(83,000,000)	$ (24,000,000)	(205,000,000)
Future
Derivative [Line Items]
Number of instruments held | Contract	1,819		1,819				2,348
Collateral held	$ 8,000,000		$ 8,000,000				$ 11,000,000
Future | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	0	(11,000,000)	(4,000,000)	(25,000,000)
Other invested assets
Derivative [Line Items]
Fund purchased								$ 35,000,000
Other invested assets | Other Embedded Derivative
Derivative [Line Items]
Derivative, Notional Amount								$ 11,000,000
Available-for-sale embedded derivative
Derivative [Line Items]
Asset Value	$ 12,000,000	$ 11,000,000	$ 12,000,000	$ 11,000,000		$ 12,000,000	$ 11,000,000		$ 0	$ 0
Salus Participations | Forecast
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative					$ (8,000)

Fair Value of Financial Instr50

Fair Value of Financial Instruments - Assets and Liabilities Carrying at Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 18,548	$ 18,133
Derivative investments	220	296
Total financial assets at fair value	1,352	1,292
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	654	576
Equity securities - available-for-sale	27	59
Derivative investments	0	0
Other invested assets	0	0
Total financial assets at fair value	1,094	751
Investment contracts, included in contractholder funds	0	0
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities		0
Debt	0	0
Total financial liabilities at fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity securities - available-for-sale	547	599
Derivative investments	220	296
Other invested assets	11	2
Total financial assets at fair value	17,309	17,264
Investment contracts, included in contractholder funds	0	0
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities		22
Debt	312	317
Total financial liabilities at fair value	326	340
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity securities - available-for-sale	9	40
Derivative investments	0	0
Other invested assets	207	235
Total financial assets at fair value	1,365	1,303
Investment contracts, included in contractholder funds	14,016	13,109
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities		0
Debt	0	0
Total financial liabilities at fair value	16,190	15,017
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	654	576
Equity securities - available-for-sale	583	698
Derivative investments	220	296
Other invested assets	218	237
Total financial assets at fair value	19,768	19,318
Investment contracts, included in contractholder funds	14,016	13,109
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities		22
Debt	312	317
Total financial liabilities at fair value	16,516	15,357
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	654	576
Equity securities - available-for-sale	583	698
Derivative investments	220	296
Other invested assets	218	237
Total financial assets at fair value	19,768	19,318
Investment contracts, included in contractholder funds	15,530	14,556
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities		22
Debt	300	300
Total financial liabilities at fair value	18,018	16,787
Embedded derivatives in Reinsurance contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	0	0
Embedded derivatives in Reinsurance contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	128	76
Embedded derivatives in Reinsurance contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	0	0
Embedded derivatives in Reinsurance contracts | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	128	76
Embedded derivatives in Reinsurance contracts | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	128	76
Fixed Index Annuity | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	0
Fixed Index Annuity | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	0
Fixed Index Annuity | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,174	1,908
Fixed Index Annuity | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,174	1,908
Fixed Index Annuity | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,174	1,908
Future Contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	0
Future Contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	1
Future Contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	0
Future Contracts | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	1
Future Contracts | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	1
Call options | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities	0
Call options | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities	14
Call options | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities	0
Call options | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities	14
Call options | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities	14
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,145	2,032
Asset-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Asset-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,075	1,958
Asset-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	70	74
Asset-backed securities | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,145	2,032
Asset-backed securities | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,145	2,032
Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	821	637
Commercial mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Commercial mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	681	554
Commercial mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	140	83
Commercial mortgage-backed securities | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	821	637
Commercial mortgage-backed securities | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	821	637
Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	9,535	9,779
Corporates | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Corporates | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	8,634	8,945
Corporates | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	901	834
Corporates | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	9,535	9,779
Corporates | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	9,535	9,779
Hybrids
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,241	1,316
Hybrids | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Hybrids | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,241	1,316
Hybrids | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Hybrids | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,241	1,316
Hybrids | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,241	1,316
Municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,450	1,260
Municipals | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Municipals | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,412	1,223
Municipals | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	38	37
Municipals | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,450	1,260
Municipals | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,450	1,260
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,176	2,114
Residential mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Residential mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,176	2,114
Residential mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Residential mortgage-backed securities | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,176	2,114
Residential mortgage-backed securities | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,176	2,114
U.S. Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	597	297
U.S. Government | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	413	116
U.S. Government | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	184	181
U.S. Government | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
U.S. Government | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	597	297
U.S. Government | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 597	$ 297

Fair Value of Financial Instr51

Fair Value of Financial Instruments - Schedule of Unobservable Inputs Used for Level Three Fair Value Measurements of Financial Instruments on Recurring Basis (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jun. 30, 2015	Sep. 30, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 1,352	$ 1,292
Liabilities, Fair Value Disclosure	2,174	1,908
Market Approach Valuation Technique | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 33	$ 74
Valuation Technique	Broker-quoted	Broker-quoted
Market Approach Valuation Technique | Asset-backed securities | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	100.00%	95.45%
Market Approach Valuation Technique | Asset-backed securities | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	106.75%	109.26%
Market Approach Valuation Technique | Asset-backed securities | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	100.58%	99.26%
Market Approach Valuation Technique | Commercial mortgage-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 140	$ 83
Valuation Technique	Broker-quoted	Broker-quoted
Market Approach Valuation Technique | Commercial mortgage-backed securities | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	99.88%	105.25%
Market Approach Valuation Technique | Commercial mortgage-backed securities | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	121.50%	118.29%
Market Approach Valuation Technique | Commercial mortgage-backed securities | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	113.00%	121.00%
Market Approach Valuation Technique | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 868	$ 832
Valuation Technique	Broker-quoted	Broker-quoted
Market Approach Valuation Technique | Corporates | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	60.00%	61.67%
Market Approach Valuation Technique | Corporates | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	120.34%	100.04%
Market Approach Valuation Technique | Corporates | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	100.50%	119.75%
Market Approach Valuation Technique | Municipals
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 38	$ 37
Valuation Technique	Broker-quoted	Broker-quoted
Broker Quoted	108.44%	106.64%
Market Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 6	$ 6
Valuation Technique	Matrix Pricing	Broker-quoted
Broker Quoted		99.75%
Matrix Pricing	100.00%
Market Approach Valuation Technique | Other invested assets
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 15	$ 213
Valuation Technique	Liquidation Value - 30% recovery estimate	Market Pricing
Sales Agreement	100.00%
Cash Pricing	100.00%
Wind Down Expense Pricing	100.00%
Market Approach Valuation Technique | Other invested assets | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Inventory Pricing	50.00%
Accounts Receivable Pricing	50.00%
Market Approach Valuation Technique | Other invested assets | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Inventory Pricing	75.00%
Accounts Receivable Pricing	100.00%
Income Approach Valuation Technique | Fixed Index Annuity
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Liabilities, Fair Value Disclosure	$ 2,174	$ 1,908
Valuation Technique	Discounted Cash Flow	Discounted Cash Flow
Mortality Multiplier	80.00%	80.00%
Non Performance Spread	0.25%	0.25%
Income Approach Valuation Technique | Minimum | Fixed Index Annuity
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market Value Of Option	0.00%	0.00%
Swap Rates	1.79%	1.93%
Surrender Rates	0.50%	0.50%
Income Approach Valuation Technique | Maximum | Fixed Index Annuity
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market Value Of Option	40.86%	3.37%
Swap Rates	2.46%	2.29%
Surrender Rates	75.00%	7.00%
Income Approach Valuation Technique | Weighted Average | Fixed Index Annuity
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market Value Of Option	2.26%	49.82%
Swap Rates	2.13%	2.64%
Surrender Rates	7.00%	75.00%
Income Approach Valuation Technique | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 37
Income Approach Valuation Technique | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 33	$ 2
Valuation Technique	Matrix Pricing	Matrix Pricing
Matrix Pricing		142.30%
Income Approach Valuation Technique | Corporates | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix Pricing	103.51%
Income Approach Valuation Technique | Corporates | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix Pricing	144.25%
Income Approach Valuation Technique | Corporates | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix Pricing	105.33%
Income Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value		$ 34
Valuation Technique		Market-approach
Income Approach Valuation Technique | Other invested assets
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 12	$ 11
Valuation Technique	Black Scholes model	Black Scholes model
Black Scholes Model	100.00%	100.00%
Salus Capital Partners LLC | Market Approach Valuation Technique | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Valuation Technique	Third-Party Valuation
Discount Rate	11.00%
Probability of Default	2.00%
Recovery Rate	30.00%
Salus Capital Partners LLC | Market Approach Valuation Technique | Asset-backed securities | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	55.00%
Fair Value Inputs, Other Loan Recoveries	48.00%
Salus Capital Partners LLC | Market Approach Valuation Technique | Asset-backed securities | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	58.73%
Fair Value Inputs, Other Loan Recoveries	100.00%
Salus Capital Partners LLC | Market Approach Valuation Technique | Asset-backed securities | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Broker Quoted	55.17%
Salus Capital Partners LLC | Market Approach Valuation Technique | Other invested assets
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 167
Valuation Technique	Market Pricing
Broker Quoted	100.00%	100.00%
Salus Capital Partners LLC | Income Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 3
Valuation Technique	Market-approach
Discount Rate	11.00%
Recovery Rate	30.00%
Yield	11.00%
Collateralized Loan Obligation Equity Percentage	55.17%
Salus Capital Partners LLC | Income Approach Valuation Technique | Equities | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Yield		8.31%
Salus Capital Partners LLC | Income Approach Valuation Technique | Equities | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Yield		9.81%

Fair Value of Financial Instr52

Fair Value of Financial Instruments - Changes to Fair Value of Financial Instruments Level 3 (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	$ 1,424	$ 967	$ 1,292	$ 870
Total Gains (Losses) Included in Earnings	(13)	0	(93)	0
Total Gains (Losses) Included in AOCI	(22)	17	4	22
Purchases	0	194	324	566
Sales	(1)	(1)	(16)	(1)
Settlements	(17)	(29)	(106)	(100)
Net transfer In (Out) of Level 3 (a)	(19)	(19)	(53)	(228)
Balance at End of Period	1,352	1,129	1,352	1,129
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	2,217	1,719	1,908	1,545
Total Gains (Losses) Included in Earnings	(43)	146	266	320
Total Gains (Losses) Included in AOCI	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Net transfer In (Out) of Level 3 (a)	0	0	0	0
Balance at End of Period	2,174	1,865	2,174	1,865
Transfers between classification of level 3	0	6	0	6
FIA embedded derivatives, included in contractholder funds
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	2,217	1,719	1,908	1,545
Total Gains (Losses) Included in Earnings	(43)	146	266	320
Total Gains (Losses) Included in AOCI	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Net transfer In (Out) of Level 3 (a)	0	0	0	0
Balance at End of Period	2,174	1,865	2,174	1,865
Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	92	48	74	247
Total Gains (Losses) Included in Earnings	(3)	0	(28)	0
Total Gains (Losses) Included in AOCI	0	0	2	(1)
Purchases	0	0	66	5
Sales	0	0	(15)	0
Settlements	0	0	0	0
Net transfer In (Out) of Level 3 (a)	(19)	(5)	(29)	(208)
Balance at End of Period	70	43	70	43
Commercial mortgage-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	142	0	83	5
Total Gains (Losses) Included in Earnings	0	0	0	0
Total Gains (Losses) Included in AOCI	(2)	0	0	1
Purchases	0	84	57	84
Sales	0	0	0	0
Settlements	0	0	0	0
Net transfer In (Out) of Level 3 (a)	0	0	0	(6)
Balance at End of Period	140	84	140	84
Corporates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	925	657	834	461
Total Gains (Losses) Included in Earnings	0	0	2	0
Total Gains (Losses) Included in AOCI	(20)	14	4	18
Purchases	0	89	123	283
Sales	(1)	(1)	(1)	(1)
Settlements	(3)	0	(37)	(2)
Net transfer In (Out) of Level 3 (a)	0	(14)	(24)	(14)
Balance at End of Period	901	745	901	745
Municipals
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	40	36	37	0
Total Gains (Losses) Included in Earnings	0	0	0	0
Total Gains (Losses) Included in AOCI	(2)	1	1	2
Purchases	0	0	0	35
Sales	0	0	0	0
Settlements	0	0	0	0
Net transfer In (Out) of Level 3 (a)	0	0	0	0
Balance at End of Period	38	37	38	37
Equities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	18	33	40	0
Total Gains (Losses) Included in Earnings	(9)	0	(30)	0
Total Gains (Losses) Included in AOCI	0	2	(1)	2
Purchases	0	6	0	39
Sales	0	0	0	0
Settlements	0	0	0	0
Net transfer In (Out) of Level 3 (a)	0	0	0	0
Balance at End of Period	9	41	9	41
Available-for-sale embedded derivative
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	12	0	11	0
Total Gains (Losses) Included in Earnings	0	0	1	0
Total Gains (Losses) Included in AOCI	0	0	0	0
Purchases	0	11	0	11
Sales	0	0	0	0
Settlements	0	0	0	0
Net transfer In (Out) of Level 3 (a)	0	0	0	0
Balance at End of Period	12	11	12	11
Salus participations (b)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	195	193	213	157
Total Gains (Losses) Included in Earnings	(1)	0	(38)	0
Total Gains (Losses) Included in AOCI	2	0	(2)	0
Purchases	0	4	78	109
Sales	0	0	0	0
Settlements	(14)	(29)	(69)	(98)
Net transfer In (Out) of Level 3 (a)	0	0	0	0
Balance at End of Period	$ 182	$ 168	$ 182	$ 168

Fair Value of Financial Instr53

Fair Value of Financial Instruments - Narrative (Detail)	3 Months Ended		9 Months Ended
	Jun. 30, 2015USD ($)credit_quality_eventpayment$ / Contract	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)credit_quality_eventpayment$ / Contract	Jun. 30, 2014USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of Loans Past Due	0		0
Number of Indicators Related to Credit Quality | credit_quality_event	0		0
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$ 0	$ 0	$ 0	$ 0
Net transfer In (Out) of Level 3 (a)	19,000,000	19,000,000	53,000,000	228,000,000
Equities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net transfer In (Out) of Level 3 (a)	0	0	0	0
Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net transfer In (Out) of Level 3 (a)	19,000,000	5,000,000	29,000,000	208,000,000
Asset Backed Securities and Corporate Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net transfer In (Out) of Level 3 (a)		$ 19,000,000		$ 222,000,000
Mortgage Loans on Real Estate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value	$ 404,000,000		$ 404,000,000
Market Approach Valuation Technique | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan Duration			1 year
Income Approach Valuation Technique | Other invested assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Option Strike Price | $ / Contract	0		0
Salus Capital Partners LLC | Market Approach Valuation Technique | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Recovery Rate			30.00%
Salus Capital Partners LLC | Income Approach Valuation Technique | Equities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Recovery Rate			30.00%

Intangible Assets - Summary of

Intangible Assets - Summary of Changes in Carrying Amounts of Intangible Assets Including DAC, VOBA , and DSI (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Intangible Assets, Including Goodwill [Roll Forward]
Beginning Balance, Intangible Assets, Excluding Goodwill			$ 515	$ 523
Deferrals			249	173
Amortization of intangibles	$ (88)	$ (15)	(97)	(49)
Adjustment for unrealized investment (gains), net, Goodwill			141	(191)
Ending Balance, Intangible Assets, Excluding Goodwill	808	456	808	456
Finite-Lived Intangible Assets, Accumulated Amortization	399	330	399	330
Unlocking
Intangible Assets, Including Goodwill [Roll Forward]
Amortization of intangibles			2	(25)
Interest
Intangible Assets, Including Goodwill [Roll Forward]
Amortization of intangibles			(25)	(21)
Other amortization
Intangible Assets, Including Goodwill [Roll Forward]
Amortization of intangibles			(120)	(95)
VOBA
Intangible Assets, Including Goodwill [Roll Forward]
Beginning Balance, Finite Lived Intangible Assets			59	192
Deferrals			0	0
Adjustment for unrealized investment (gains), net, Goodwill			49	(108)
Ending Balance, Finite Lived Intangible Assets	63	58	63	58
VOBA | Unlocking
Intangible Assets, Including Goodwill [Roll Forward]
Amortization of intangibles			(3)	(22)
VOBA | Interest
Intangible Assets, Including Goodwill [Roll Forward]
Amortization of intangibles			(9)	(11)
VOBA | Other amortization
Intangible Assets, Including Goodwill [Roll Forward]
Amortization of intangibles			(57)	(59)
DAC
Intangible Assets, Including Goodwill [Roll Forward]
Beginning Balance, Finite Lived Intangible Assets			456	331
Deferrals			249	173
Adjustment for unrealized investment (gains), net, Goodwill			92	(83)
Ending Balance, Finite Lived Intangible Assets	$ 745	$ 398	745	398
DAC | Unlocking
Intangible Assets, Including Goodwill [Roll Forward]
Amortization of intangibles			5	(3)
DAC | Interest
Intangible Assets, Including Goodwill [Roll Forward]
Amortization of intangibles			(16)	(10)
DAC | Other amortization
Intangible Assets, Including Goodwill [Roll Forward]
Amortization of intangibles			$ (63)	$ (36)

Intangible Assets - Estimated A

Intangible Assets - Estimated Amortization Expense for VOBA in Future Fiscal Periods (Detail) - VOBA $ in Millions	Jun. 30, 2015USD ($)
Schedule Of Amortization Expense And Weighted Average Lives Of Identified Intangible Assets [Line Items]
2,015	$ 8
2,016	31
2,017	26
2,018	21
2,019	17
Thereafter	$ 73

Intangible Assets - Narrative (

Intangible Assets - Narrative (Detail) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2015	Sep. 30, 2014
VOBA
Finite-Lived Intangible Assets [Line Items]
Cumulative adjustments for net unrealized investment gains	$ (115)
Cumulative adjustments for net unrealized loss		$ (164)
DAC
Finite-Lived Intangible Assets [Line Items]
Cumulative adjustments for net unrealized investment gains	37
Cumulative adjustments for net unrealized loss		(56)
Deferred sales inducements, net of shadow adjustments	$ 51	$ 33
Minimum
Finite-Lived Intangible Assets [Line Items]
Interest rate to calculate accretion on intangible asset	4.00%
Maximum
Finite-Lived Intangible Assets [Line Items]
Interest rate to calculate accretion on intangible asset	5.00%
Weighted Average | VOBA
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	4 years 10 months 24 days

Debt - Schedule of Long Term De

Debt - Schedule of Long Term Debt (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2014
Line of Credit Facility [Line Items]
Debt	$ 300		$ 300		$ 300
Interest Expense	5	$ 5	14	$ 14
Amortization	1	1	3	3
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit	0		0		$ 0
Interest Expense	0	0	0	0
Amortization	$ 0	$ 0	$ 1	$ 0

Debt - Narrative (Detail)

Debt - Narrative (Detail) - USD ($)	Aug. 26, 2014	Jun. 30, 2015	Sep. 30, 2014
Revolving Credit Facility
Debt Instrument [Line Items]
Expiration for credit facility	3 years
Borrowing capacity for credit facility	$ 150,000,000
Interest rate at end of period		5.25%	5.25%
Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 31, 2015	May. 01, 2015	Mar. 09, 2015	Feb. 10, 2015	Dec. 15, 2014	Nov. 18, 2014	Jun. 30, 2015	Jun. 01, 2015	Sep. 30, 2014	Sep. 02, 2014
Class of Stock [Line Items]
Stock Repurchased During Period, Shares							512,000
Stock Repurchased During Period, Value							$ 11
Shareholders' disclosure, common stock (in shares)							47,000,000
Cash dividend per common share		$ 0.065		$ 0.065		$ 0.065
Dividends, Common Stock, Cash		$ 4	$ 4		$ 4
Common stock, shares outstanding			57,975,000		58,279,000		58,762,826	57,932,000	58,442,721
Treasury Stock
Class of Stock [Line Items]
Stock Repurchased During Period, Value							$ 11
September 2014 Repurchase Plan
Class of Stock [Line Items]
Number of Shares Authorized to be Repurchased										500,000
Stock Repurchased During Period, Shares							500,000
Stock Compensation Plan
Class of Stock [Line Items]
Stock Repurchased During Period, Shares							12,000
HRG
Class of Stock [Line Items]
Shareholders' disclosure, ownership percentage							81.00%
Subsequent Event
Class of Stock [Line Items]
Cash dividend per common share	$ 0.065

Stock Compensation - Schedule o

Stock Compensation - Schedule of Stock Based Compensation Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 4	$ 3	$ 16	$ 17
Tax Benefit from Compensation Expense	1	1	6	6
Allocated Share-based Compensation Expense, Net of Tax	3	2	10	11
FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	1	0	9	2
FGL Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	0	0	1	0
FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	0	0	5	0
FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	1	0	3	1
FGL Plan | Unrestricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	0	0	0	1
2011 Stock Incentive Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	0	1	1	7
2011 Dividend Equivalent Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	0	0	0	1
2011 Stock Incentive Plan, Amended and Restated | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	2	1	4	6
2011 Stock Incentive Plan, Amended and Restated | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	0	1	1	1
2012 Dividend Equivalent Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	1	0	1	0
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 3	$ 3	$ 7	$ 15

Stock Compensation - Summary of

Stock Compensation - Summary of Unrecognized Stock Compensation Expense (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 13
Weighted Average Recognition Period in Years	1 year
FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 11
FGL Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 1
Weighted Average Recognition Period in Years	2 years
FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 4
Weighted Average Recognition Period in Years	2 years
FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 6
Weighted Average Recognition Period in Years	1 year
FGL Plan | Unrestricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 0
2011 Stock Incentive Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	0
2011 Dividend Equivalent Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	0
2011 Stock Incentive Plan, Amended and Restated | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 1
Weighted Average Recognition Period in Years	1 year
2011 Stock Incentive Plan, Amended and Restated | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 1
Weighted Average Recognition Period in Years	1 year
2012 Dividend Equivalent Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 0
Weighted Average Recognition Period in Years	1 year
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 2

Stock Compensation - Summary 62

Stock Compensation - Summary of Stock Options Outstanding and Related Activity (Detail) - $ / shares shares in Thousands	9 Months Ended
	Jun. 30, 2015	Sep. 30, 2014
FGL
Weighted Average Exercise Price:
Share Price	$ 116.54
FGL Plan | Stock Option Awards
Options Roll Forward:
Stock options outstanding at beginning of period (in shares)	242
Granted (in shares)	206
Exercised (in shares)	(3)
Forfeited or expired (in shares)	(16)
Stock options outstanding at end of period (in shares)	429
Vested and exercisable at end of period (in shares)	221
Vested or expected to vest at end of period (in shares)	420
Weighted Average Exercise Price:
Stock options outstanding at beginning of period (USD per share)	$ 17
Granted (USD per share)	24.40
Exercised (USD per share)	17
Forfeited or expired (USD per share)	20.81
Stock options outstanding at end of period (USD per share)	20.41
Vested and exercisable at end of period (USD per share)	19.52
Vested or expected to vest at end of period (USD per share)	20.41
FGLH Plan
Weighted Average Exercise Price:
Share Price	$ 23.63	$ 21.35
FGLH Plan | Stock Option Awards
Options Roll Forward:
Stock options outstanding at beginning of period (in shares)	225
Granted (in shares)	0
Exercised (in shares)	(75)
Forfeited or expired (in shares)	(1)
Stock options outstanding at end of period (in shares)	149
Vested and exercisable at end of period (in shares)	123
Vested or expected to vest at end of period (in shares)	148
Weighted Average Exercise Price:
Stock options outstanding at beginning of period (USD per share)	$ 46.19
Granted (USD per share)	0
Exercised (USD per share)	44.89
Forfeited or expired (USD per share)	49.45
Stock options outstanding at end of period (USD per share)	46.81
Vested and exercisable at end of period (USD per share)	46.23
Vested or expected to vest at end of period (USD per share)	$ 46.79

Stock Compensation - Assumption

Stock Compensation - Assumptions Used in Determination of Grant Date Fair Values Using Black-Scholes Option Pricing Model (Detail) - 9 months ended Jun. 30, 2015 - FGL Plan - $ / shares	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.40%
Assumed dividend yield	1.20%
Expected option term	4 years 6 months
Volatility	25.00%
CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.20%
Assumed dividend yield	1.20%
Expected option term	9 months
Volatility	25.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per options granted	$ 5.02
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per options granted	$ 4.23

Stock Compensation - Summary 64

Stock Compensation - Summary of Restricted Stock and Restricted Stock Units Outstanding and Related Activity (Detail) - 9 months ended Jun. 30, 2015 - $ / shares shares in Thousands	Total
FGL Plan | Performance Shares
Shares:
Restricted shares outstanding at beginning of period (in shares)	578
Granted (in shares)	40
Vested (in shares)	(45)
Forfeited (in shares)	(72)
Restricted shares outstanding at end of period (in shares)	501
Weighted Average Grant Date Fair Value:
Average grant date fair value outstanding at beginning of period (USD per share)	$ 17.37
Average grant date fair value, Granted (USD per share)	20.36
Average grant date fair value, Vested (USD per share)	17
Average grant date fair value, Forfeited or Expired (USD per share)	17
Average grant date fair value outstanding at end of period (USD per share)	$ 17.69
FGL Plan | Restricted stock units
Shares:
Restricted shares outstanding at beginning of period (in shares)	172
Granted (in shares)	325
Vested (in shares)	(227)
Forfeited (in shares)	(18)
Restricted shares outstanding at end of period (in shares)	252
Weighted Average Grant Date Fair Value:
Average grant date fair value outstanding at beginning of period (USD per share)	$ 18.18
Average grant date fair value, Granted (USD per share)	23.57
Average grant date fair value, Vested (USD per share)	21.61
Average grant date fair value, Forfeited or Expired (USD per share)	21.62
Average grant date fair value outstanding at end of period (USD per share)	$ 21.91
FGLH Plan | Restricted stock units
Shares:
Restricted shares outstanding at beginning of period (in shares)	26
Granted (in shares)	0
Vested (in shares)	(14)
Forfeited (in shares)	(1)
Restricted shares outstanding at end of period (in shares)	11
Weighted Average Grant Date Fair Value:
Average grant date fair value outstanding at beginning of period (USD per share)	$ 49.55
Average grant date fair value, Granted (USD per share)	0
Average grant date fair value, Vested (USD per share)	49.55
Average grant date fair value, Forfeited or Expired (USD per share)	49.45
Average grant date fair value outstanding at end of period (USD per share)	$ 49.57

Stock Compensation - Narrative

Stock Compensation - Narrative (Details)

May. 11, 2015USD ($)shares

Mar. 18, 2015USD ($)individual_grantee

Feb. 11, 2015USD ($)shares

Dec. 01, 2014USD ($)shares

Nov. 19, 2014USD ($)shares

Oct. 06, 2014USD ($)shares

Jun. 30, 2015USD ($)$ / sharesshares

Mar. 31, 2015

Jun. 30, 2014USD ($)

Jun. 30, 2015USD ($)$ / sharesshares

Jun. 30, 2014USD ($)

Sep. 30, 2014$ / shares

Nov. 19, 2013shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Tax Benefit from Compensation Expense

$ 1,000,000

$ 1,000,000

$ 6,000,000

$ 6,000,000

FGL

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share Price | $ / shares

$ 116.54

$ 116.54

FGL Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of Shares Authorized | shares

2,838,000

Awards available to grant | shares

1,347,000

1,347,000

FGL Plan | CEO

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Accelerated compensation cost

$ 2,000,000

FGL Plan | Officer

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Accelerated compensation cost

$ 3,000,000

Termination of individuals | individual_grantee

2

FGL Plan | Stock Option Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock options granted (in shares) | shares

206,000

Options, Outstanding, Intrinsic Value

$ 2,000,000

$ 2,000,000

Options, Exercisable, Intrinsic Value

1,000,000

1,000,000

Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value

$ 2,000,000

$ 2,000,000

Outstanding Options, Weighted Average Remaining Contractual Term

6 years

Options Exercisable, Weighted Average Remaining Contractual Term

6 years

Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term

6 years

Options, Exercises in Period, Intrinsic Value

$ 0

0

Cash Received from Exercise of Stock Options

0

0

Tax Benefit from Compensation Expense

$ 0

0

FGL Plan | Stock Option Awards | Directors, Officers, and Other Key Employees

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock options granted (in shares) | shares

7,000

176,000

Award Vesting Period

3 years

3 years

Fair value at grant date (options)

$ 0

$ 1,000,000

FGL Plan | Stock Option Awards | Officer

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock options granted (in shares) | shares

24,000

Fair value at grant date (options)

$ 0

FGL Plan | Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award Vesting Period

1 year

Restricted stock unit grants (in shares) | shares

325,000

FGL Plan | Restricted stock units | First anniversary

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting rates, percent

20.00%

FGL Plan | Restricted stock units | Second anniversary

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting rates, percent

50.00%

FGL Plan | Restricted stock units | Third anniversary

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting rates, percent

30.00%

FGL Plan | Restricted stock units | Directors, Officers, and Other Key Employees

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award Vesting Period

3 years

Restricted stock unit grants (in shares) | shares

48,000

138,000

Fair value at grant date (other than options)

$ 1,000,000

$ 3,000,000

FGL Plan | Restricted stock units | Directors, Officers, and Other Key Employees | First anniversary

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock unit grants (in shares) | shares

40,000

FGL Plan | Restricted stock units | Officer

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock unit grants (in shares) | shares

27,000

12,000

Fair value at grant date (other than options)

$ 1,000,000

$ 0

FGL Plan | Restricted stock units | Director

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock unit grants (in shares) | shares

100,000

Fair value at grant date (other than options)

$ 2,000,000

FGL Plan | Performance Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock unit grants (in shares) | shares

40,000

FGL Plan | Performance Shares | CEO

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Forfeiture of Awards, Percentage

66.70%

FGL Plan | Performance Shares | Officer

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock unit grants (in shares) | shares

32,000

Fair value at grant date (other than options)

$ 1,000,000

FGL Plan | Performance Shares | Officer | Annual Performance Result

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting rates, percent

50.00%

FGL Plan | Performance Shares | Officer | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting rates, percent

0.00%

FGL Plan | Performance Shares | Officer | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting rates, percent

200.00%

FGL Plan | Unrestricted Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Fair value at grant date (other than options)

$ 0

$ 0

FGL Plan | Unrestricted Shares | Director

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock unit grants (in shares) | shares

1,000

8,000

FGLH Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share Price | $ / shares

$ 23.63

$ 23.63

$ 21.35

FGLH Plan | Stock Option Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock options granted (in shares) | shares

0

Options, Outstanding, Intrinsic Value

$ 10,000,000

$ 10,000,000

Options, Exercisable, Intrinsic Value

9,000,000

9,000,000

Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value

$ 10,000,000

$ 10,000,000

Outstanding Options, Weighted Average Remaining Contractual Term

3 years

Options Exercisable, Weighted Average Remaining Contractual Term

2 years

Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term

3 years

Options, Exercises in Period, Intrinsic Value

$ 4,000,000

$ 6,000,000

FGLH Plan | Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock unit grants (in shares) | shares

0

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Tax rate	33.00%	30.00%	37.00%	7.00%
Change in effective tax rate due to release of valuation allowance			$ 35
Unrealized build in gains on AFS		$ 100		$ 100
Unrealized build in gains on AFS, amount realized in period			(93)
Income tax (benefit) on unrealized build in gains on AFS			(33)
Tax Credit Carryforward [Line Items]
Valuation allowance	$ (121)		(121)
Deferred gross tax assets	321		321
Tax Year 2015 | Capital Loss Carryforward
Tax Credit Carryforward [Line Items]
Carryforward tax credits	$ 220		$ 220

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Apr. 02, 2015	Jan. 07, 2015	Apr. 04, 2014	Jun. 30, 2015	Jun. 30, 2015
Loss Contingencies [Line Items]
Accrued amount of guaranty fund assessments					$ 4
Estimated future premium tax deductions				$ 4	4
Social Security Inquiry
Loss Contingencies [Line Items]
Administrative costs and potential liabilities				2	2
Payments audit and legal costs					2
Cressy v. FGL et. al
Loss Contingencies [Line Items]
Settlement			$ 5	4
Estimated litigation liability				3	3
Legal fees					4
Settlement payments					2
Cressy v. FGL et. al | Pending Litigation
Loss Contingencies [Line Items]
Estimate of possible liability				9	9
Dale R. Ludwick v. HRG, FGL, Raven Reinsurance Company, and Front Street Re (Cayman) Ltd
Loss Contingencies [Line Items]
Estimated litigation liability				$ 1	$ 1
Plaintiff damage claims		$ 0
Period to designate mediator	14 days
Period to hold mediation	75 days

Commitments and Contingencies68

Commitments and Contingencies - Schedule of Investment Commitments (Details) - Commitment to Invest $ in Millions	Jun. 30, 2015USD ($)
Other Commitments [Line Items]
Total	$ 251
Other invested assets
Other Commitments [Line Items]
Total	142
Commercial mortgage loans
Other Commitments [Line Items]
Total	48
Fixed maturities, available-for-sale
Other Commitments [Line Items]
Total	35
Other assets
Other Commitments [Line Items]
Total	21
Related party loans
Other Commitments [Line Items]
Total	$ 5

Reinsurance - Effect of Reinsur

Reinsurance - Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Insurance Premiums:
Direct	$ 68	$ 65	$ 195	$ 200
Assumed	0	9	17	28
Ceded	(51)	(61)	(169)	(187)
Net	17	13	43	41
Benefits and Other Changes in Insurance Policy Reserves:
Direct	133	324	666	877
Assumed	(15)	6	1	19
Ceded	(40)	(88)	(193)	(258)
Net	$ 78	$ 242	$ 474	$ 638

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($)	3 Months Ended		7 Months Ended	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Apr. 30, 2015	Jun. 30, 2015	Jun. 30, 2014
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Write-off of reinsurance	$ 0	$ 0		$ 0	$ 0
Ceded Reinsurance Commuted	51,000,000	61,000,000		169,000,000	187,000,000
Life and Annuity Insurance Product Line
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Ceded Reinsurance Commuted	$ 0	$ 0		$ 0	$ 0
Front Street RE (Cayman) Ltd. | Multi-Year Guaranteed Annuity
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Percent of reinsurance ceded under agreement			30.00%

Related Party Transactions - Su

Related Party Transactions - Summary of Affiliated Entity Operations (Details) - Front Street RE (Cayman) Ltd. - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Premiums	$ 1	$ 0	$ 1	$ 1
Net investment income	14	14	47	46
Net investment (losses) gains	(3)	10	(18)	21
Insurance and investment product fees	1	1	3	4
Total revenues	13	25	33	72
Benefits and other changes in policy reserves	(7)	(17)	(35)	(50)
Acquisition & operating expenses, net of deferrals	(1)	(1)	(3)	(5)
Total benefits and expenses	(8)	(18)	(38)	(55)
Operating income (loss)	$ 5	$ 7	$ (5)	$ 17

Related Party Transactions - Re

Related Party Transactions - Related Party Investments (Details) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)borrower	Jun. 30, 2014USD ($)	Sep. 30, 2014USD ($)
Salus participations (b)
Related Party Transaction [Line Items]
Number of borrowers in loan participations | borrower			19
Average loan balance			$ 9
HGI energy loan (c) | Front Street RE (Cayman) Ltd.
Related Party Transaction [Line Items]
Asset carrying value	$ 20		20		$ 20
Fixed maturities, available-for-sale | Salus CLOs
Related Party Transaction [Line Items]
Asset carrying value	257		257		239
Accrued Investment Income	1		1		1
Total carrying value	258		258		240
Related Party Transaction, Net Investment Income	3	$ 3	9	$ 9
Fixed maturities, available-for-sale | Fortress Investment Group CLOs
Related Party Transaction [Line Items]
Asset carrying value	203		203		195
Accrued Investment Income	2		2		2
Total carrying value	205		205		197
Related Party Transaction, Net Investment Income	2	1	6	1
Fixed maturities, available-for-sale | Leucadia National Corporation
Related Party Transaction [Line Items]
Related Party Transaction, Net Investment Income	0	1	0	1
Fixed maturities, available-for-sale | Jefferies Group Inc.
Related Party Transaction [Line Items]
Related Party Transaction, Net Investment Income	0	1	0	3
Equities | Salus preferred equity (a)
Related Party Transaction [Line Items]
Asset carrying value	3		3		34
Accrued Investment Income	0		0		0
Total carrying value	3		3		34
Other invested assets
Related Party Transaction [Line Items]
Asset carrying value	12		12		2
Accrued Investment Income	0		0		0
Total carrying value	12		12		2
Other invested assets | Salus participations (b)
Related Party Transaction [Line Items]
Asset carrying value	173		173		213
Accrued Investment Income	1		1		2
Total carrying value	174		174		215
Related Party Transaction, Net Investment Income	4	4	12	14
Other invested assets | Energy & Infrastructure Capital (EIC) participations
Related Party Transaction [Line Items]
Asset carrying value	9		9
Accrued Investment Income	0		0
Total carrying value	9		9
Related party loans | HGI energy loan (c)
Related Party Transaction [Line Items]
Asset carrying value	70		70		70
Accrued Investment Income	0		0		2
Total carrying value	70		70		72
Related Party Transaction, Net Investment Income	2	1	4	3
Related party loans | Salus 2012 participations
Related Party Transaction [Line Items]
Asset carrying value	4		4		11
Accrued Investment Income	0		0		0
Total carrying value	4		4		11
Related Party Transaction, Net Investment Income	0	0	0	1
Related party loans | Salus promissory note
Related Party Transaction [Line Items]
Asset carrying value	3		3		20
Accrued Investment Income	0		0		0
Total carrying value	3		3		20
Related Party Transaction, Net Investment Income	$ 0	$ 1	$ 1	$ 1
Related party loans | Salus revolver
Related Party Transaction [Line Items]
Asset carrying value					10
Accrued Investment Income					0
Total carrying value					$ 10

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended
	Jan. 31, 2014	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Feb. 27, 2015	Sep. 30, 2014
Related Party Transaction [Line Items]
Reinsurance recoverable		$ 3,642			$ 3,642			$ 3,665
Liability for policy and contract claims		1,325			1,325			1,331
Change in fair value of reinsurance related embedded derivative		36		$ (21)	52	$ (54)
Other-than-temporary impairments		4		1	65	1
Other invested assets
Related Party Transaction [Line Items]
Other-than-temporary impairments		1			36
Available-for-sale Securities
Related Party Transaction [Line Items]
Other-than-temporary impairments		3			27
Net Realized Investment Gains
Related Party Transaction [Line Items]
Change in fair value of reinsurance related embedded derivative		27		74	90	177
Other Embedded Derivative | Net Realized Investment Gains
Related Party Transaction [Line Items]
Change in fair value of reinsurance related embedded derivative		(2)		1	10	1
Other Embedded Derivative | Net Realized Investment Gains | Other invested assets
Related Party Transaction [Line Items]
Loss on derivative		0			3
Gain on derivative		1		(1)	(10)	(1)
Change in fair value of reinsurance related embedded derivative				$ 1		$ 1
Salus preferred equity (a)
Related Party Transaction [Line Items]
Dividend rate on preferred stock	10.00%
Asset par value	$ 30
Salus Participations
Related Party Transaction [Line Items]
Other-than-temporary impairments					35
Front Street RE (Cayman) Ltd.
Related Party Transaction [Line Items]
Reinsurance recoverable		1,259			1,259			1,267
Liability for policy and contract claims		$ 1,288			$ 1,288			$ 1,293
Other-than-temporary impairments			$ 81
Salus Capital Partners LLC | Salus Loan Participation, CLO Subordinated Debt
Related Party Transaction [Line Items]
Salus loan participations							$ 14
Salus CLO							16
Salus promissory note							20
Salus line of credit							10
Salus Capital Partners LLC | FGL Loan Participation, CLO Subordinated Debt and Salus Promissory Note
Related Party Transaction [Line Items]
Salus loan participations							29
Salus CLO							27
Salus promissory note							$ 2

Earnings Per Share - Summary of

Earnings Per Share - Summary of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 86	$ 57	$ 88	$ 124
Weighted-average common shares outstanding - basic	58,058,247	58,270,822	58,125,850	55,194,513
Dilutive effect of unvested restricted stock & PRSU	143,000	167,000	168,000	113,000
Dilutive effect of stock options	40,000	37,000	33,000	22,000
Weighted-average shares outstanding - diluted	58,241,215	58,474,938	58,327,483	55,329,523
Net income per common share:
Basic (in dollars per share)	$ 1.48	$ 0.97	$ 1.51	$ 2.25
Diluted (in dollars per share)	$ 1.48	$ 0.97	$ 1.51	$ 2.24

Earnings Per Share -Narrative (

Earnings Per Share -Narrative (Details) - Jun. 30, 2015 - shares shares in Thousands	Total	Total
Stock Option Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from EPS	24	22

Insurance Subsidiary Financia76

Insurance Subsidiary Financial Information and Regulatory Matters - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014	Dec. 31, 2013	Apr. 06, 2011
Insurance [Abstract]
Statutory Capital and Surplus, Balance	$ 233	$ 251
Permitted Practice, Change in Statutory Capital and Surplus	8	19
Non-Permitted Practice, Change in Statutory Capital and Surplus	(49)	(81)
Change in statutory capital and surplus balance is permitted practice was determined to be non-permitted	$ 192	$ 189
Increase (decrease) as a result of redomestication by entity			$ 20
Unassigned balance netted against additional paid in capital				$ 806