Fidelity & Guaranty Life 10-K 19 Nov 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2015	Nov. 16, 2015	Mar. 31, 2015
Document Documentand Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
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	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		58,864,281
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 233,650,956

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Investments:
Fixed maturity securities, available-for-sale, at fair value (amortized cost: September 30, 2015 - $17,622; September 30, 2014 - $16,692)	$ 17,746	$ 17,435
Equity securities, available-for-sale, at fair value (amortized cost: September 30, 2015 - $597; September 30, 2014 - $679)	620	698
Derivative investments	82	296
Commercial mortgage loans	491	136
Other invested assets	155	237
Total investments	19,094	18,802
Related party loans	78	113
Cash and cash equivalents	502	576
Accrued investment income	191	182
Reinsurance recoverable	3,579	3,665
Intangibles, net	988	515
Deferred Tax Assets, Net	228	137
Other assets	265	163
Total assets	24,925	24,153
LIABILITIES AND SHAREHOLDERS' EQUITY
Contractholder funds	17,770	16,464
Future policy benefits	3,468	3,504
Funds withheld for reinsurance liabilities	1,267	1,331
Liability for policy and contract claims	55	58
Debt	300	300
Other liabilities	563	837
Total liabilities	$ 23,423	$ 22,494
Commitments and contingencies
Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued at September 30, 2015)	$ 0	$ 0
Common stock ($.01 par value, 500,000,000 shares authorized, 58,870,823 issued and outstanding at September 30, 2015; 58,442,721 shares issued and outstanding at September 30, 2014)	1	1
Additional paid-in capital	714	702
Retained earnings	710	607
Accumulated other comprehensive income	88	349
Treasury stock, at cost (512,391 shares at September 30, 2015; no shares at September 30, 2014)	(11)	0
Total shareholders' equity	1,502	1,659
Total liabilities and shareholders' equity	$ 24,925	$ 24,153

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Statement of Financial Position [Abstract]
Fixed maturity securities, available-for-sale, at fair value (amortized cost)	$ 17,622	$ 16,692
Equity securities, available-for-sale, at fair value (cost)	$ 597	$ 679
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
Preferred Stock, shares outstanding	0	0
Treasury Stock, shares	512,391,000,000	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	58,870,823	58,442,721
Common stock, shares outstanding	58,870,823	58,442,721

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Revenues:
Premiums	$ 58	$ 56	$ 59
Net investment income	851	760	708
Net investment (losses) gains	(37)	307	518
Insurance and investment product fees and other	89	68	62
Total revenues	961	1,191	1,347
Benefits and expenses:
Benefits and other changes in policy reserves	578	788	533
Acquisition and operating expenses, net of deferrals	113	102	110
Amortization of intangibles	64	89	184
Total benefits and expenses	755	979	827
Operating income	206	212	520
Interest expense	24	23	(12)
Income before income taxes	182	189	508
Income tax expense	64	26	160
Net income	$ 118	$ 163	$ 348
Net income per common share - adjusted to reflect stock split:
Basic (in dollars per share)	$ 2.03	$ 2.91	$ 7.40
Diluted (in dollars per share)	$ 2.02	$ 2.90	$ 7.40
Weighted average common shares used in computing net income per common share:
Basic (in shares)	58,117,884	55,969,912	47,000,000
Diluted (in shares)	58,360,841	56,011,436	47,000,000
Cash dividend (in USD per share)	$ 0.260	$ 1.110	$ 1.994
Total other-than-temporary impairments	$ (82)	$ (1)	$ (3)
Portion of other-than-temporary impairments included in other comprehensive income	0	0	0
Net other-than-temporary impairments	(82)	(1)	(3)
(Losses) gains on derivatives and embedded derivatives	(8)	206	175
Other investment gains	$ 53	$ 102	$ 346

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 118	$ 163	$ 348
Unrealized investment (losses) gains:
Changes in unrealized investment (losses) gains before reclassification adjustment	(650)	622	(489)
Net reclassification adjustment for losses (gains) included in net investment gains	29	(101)	(333)
Changes in unrealized investment (losses) gains after reclassification adjustment	(621)	521	(822)
Adjustments to intangible assets	220	(157)	327
Changes in deferred income tax asset/liability	140	(128)	173
Net unrealized (losses) gains on investments	(261)	236	(322)
Non-credit related other-than-temporary impairment:
Changes in non-credit related other-than-temporary impairment	0	0	0
Adjustments to intangible assets	0	0	0
Changes in deferred income tax asset/liability	0	0	0
Net non-credit related other than-temporary impairment	0	0	0
Net change to derive comprehensive (loss) income for the period	(261)	236	(322)
Comprehensive (loss) income	$ (143)	$ 399	$ 26

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY Statement - USD ($) shares in Millions, $ in Millions	Total	Preferred Stock	Common Stock	Additional Paid-in Capital/Contributed Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning Balance at Sep. 30, 2012	$ 1,291			$ 415	$ 441	$ 435
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contributions from HRG Group Inc.	112			112
Dividends	(94)				(94)
Distributions to HRG Group Inc. and subsidiaries	(196)				(196)
Net income	348				348
Unrealized investment gains, net	(322)					(322)
Ending Balance at Sep. 30, 2013	1,139			527	499	113
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(55)				(55)
Net income	163				163
Unrealized investment gains, net	236					236
Stock split	0		$ 1	(1)
Proceeds from issuance of common stock, net of transaction fees	173			173
Stock compensation	3			3
Ending Balance at Sep. 30, 2014	1,659	$ 0	1	$ 702	607	349	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(15)				(15)
Net income	118				118
Unrealized investment gains, net	$ (261)					(261)
Common stock issued under employee plans	2			2
Stock compensation	$ 10			$ 10
Treasury shares purchased	(11)						(11)
Ending Balance at Sep. 30, 2015	$ 1,502	$ 0	$ 1	$ 714	$ 710	$ 88	$ (11)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	12 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2013USD ($)
Cash flows from operating activities:
Net income	$ 118	$ 163	$ 348
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	7	8	6
Amortization	(60)	(35)	22
Deferred income taxes	50	(25)	187
Interest credited/index credits to contractholder account balances	420	659	378
Net recognized losses (gains) on investments and derivatives	37	(307)	(518)
Charges assessed to contractholders for mortality and administration	(68)	(45)	(32)
Deferred policy acquisition costs, net of amortization	(253)	(149)	37
Changes in operating assets and liabilities:
Reinsurance recoverable	46	(16)	(1,401)
Future policy benefits	(36)	(53)	(58)
Funds withheld from reinsurers	(62)	(101)	1,518
Collateral (returned) posted	(128)	64	72
Other assets and other liabilities	(36)	11	(224)
Net cash provided by operating activities	35	174	335
Cash flows from investing activities:
Proceeds from commercial mortgage loans	139	17	18
Costs of commercial mortgage loans	(535)	(133)	(31)
Related party loans	35	6	(35)
Capital expenditures	(7)	(9)	(4)
Net cash (used in) investing activities	(1,024)	(1,659)	(90)
Cash flows from financing activities:
Treasury stock	(11)	0	0
Proceeds from issuance of common stock, net of transaction fees	0	176	0
Common stock issued under employee plans	2	0	0
Capital contributions	0	0	112
Distributions to HRG Group Inc.	0	0	(47)
Proceeds from issuance of new debt	0	0	300
Debt issuance costs	0	(4)	(10)
Payment of offering costs	0	0	(3)
Dividends paid	(15)	(55)	(94)
Contractholder account deposits	2,503	2,365	1,362
Contractholder account withdrawals	(1,564)	(1,625)	(1,716)
Net cash provided by (used in) financing activities	915	857	(96)
Change in cash & cash equivalents	(74)	(628)	149
Cash & cash equivalents, beginning of period	576	1,204	1,055
Cash & cash equivalents, end of period	502	576	1,204
Supplemental disclosures of cash flow information:
Interest paid	10	19	0
Income taxes paid	38	34	4
Distribution of non-cash assets to HRG Group Inc. and subsidiaries	0	0	123
Non-cash adjustment to retained earnings	0	0	(26)
Available-for-sale Securities
Cash flows from investing activities:
Proceeds from available-for-sale investments, sold, matured or repaid:	4,947	5,084	8,989
Cost of available-for-sale investments:	(5,746)	(6,775)	(9,030)
Derivative and other
Cash flows from investing activities:
Proceeds from available-for-sale investments, sold, matured or repaid:	439	518	300
Cost of available-for-sale investments:	$ (296)	$ (367)	$ (297)

Basis of Presentation and Natur

Basis of Presentation and Nature of Operations	12 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Nature of Operations	Basis of Presentation and Nature of Business 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”)). HRG is a diversified holding company focused on obtaining controlling equity stakes in companies that operate across a diversified set of industries. FGL and HRG’s shares of common stock trade on the New York Stock Exchange (“NYSE”) under the symbols “FGL” and “HRG,” respectively. In January of 2014, HRG transferred HRG’s ownership interest in FGL common shares to FS Holdco II, Ltd. ("FS Holdco") which is a direct wholly-owned subsidiary of HRG. HRG indirectly holds 47,000 thousand shares of FGL's outstanding common stock, representing an 81% interest at September 30, 2015 . Dollar amounts in the accompanying footnotes are presented in millions, unless otherwise noted. On August 9, 2013, the Company distributed its ownership interests in its wholly-owned subsidiaries, HGI Real Estate, LLC. and FS Holdco to HRG and HRG's subsidiaries. Beginning on August 9, 2013 with the distribution of FS Holdco, the Company’s financial statements reflect the 10% reinsurance agreement, whereby FGL cedes 10% of its in-force annuity block not already reinsured on a funds withheld basis to Front Street Re (Cayman) Ltd. (“FSRCI”), a subsidiary of FS Holdco. On August 23, 2013 the Company also distributed and assigned to HRG all of its rights in the interests, liabilities and obligations under its litigation against OM Group (UK) Limited (“OMGUK”) related to claimed $50 purchase price adjustment in connection with HFG's acquisition of Fidelity & Guaranty Life Holdings, Inc. ("FGLH") on April 6, 2011. On November 8, 2015, FGL entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among FGL, Anbang Insurance Group Co., Ltd., a joint-stock insurance company established in the People’s Republic of China (“Anbang”), AB Infinity Holding, Inc., a Delaware corporation and a wholly-owned subsidiary of Anbang (“AB Infinity”), and AB Merger Sub, Inc., a Delaware corporation and a newly formed, wholly-owned subsidiary of AB Infinity (“Merger Sub”). Pursuant to the Merger Agreement, FGL will become an indirect wholly-owned subsidiary of Anbang. Pursuant to the Merger Agreement, at the effective time of the Merger, each issued and outstanding share of FGL common stock will be canceled and converted automatically into the right to receive $26.80 in cash, without interest, other than any shares of common stock owned by FGL as treasury stock or otherwise or owned by Anbang, AB Infinity or Merger Sub (which will be canceled and no payment will be made with respect thereto), shares of common stock granted pursuant to FGL’s employee equity award plan and those shares of common stock with respect to which appraisal rights under Delaware law are properly exercised and not withdrawn. At the effective time of the Merger, each, vested and unvested, FGL option to purchase shares of common stock restricted share of common stock and performance-based restricted stock will become fully vested and automatically converted into the right to receive a cash payment in an amount pursuant to the Merger Agreement. In addition, at such time, each, vested and unvested, stock option and restricted stock unit relating to shares of Fidelity & Guaranty Life Holdings, Inc., a subsidiary of FGL (“FGLH”) will become fully vested and automatically converted into the right to receive a cash payment in an amount pursuant to the Merger Agreement, and each dividend equivalent held in respect of a share of FGLH stock (a “DER”), whether vested or unvested, will become fully vested and automatically converted into the right to receive a cash payment equal to the amount accrued with respect to such DER. The Merger is subject to closing conditions, including the receipt of regulatory approvals from the Iowa Insurance Division, New York Department of Financial Services, Vermont Department of Financial Regulation, China Insurance Regulatory Commission and the Committee on Foreign Investment in the United States. Upon termination of the Merger Agreement, under specified circumstances, FGL may be required to pay a termination fee to Anbang and its subsidiaries of $51 . FGL’s primary business is the sale of individual life insurance products and annuities through independent agents, managing general agents, and specialty brokerage firms and in selected institutional markets. FGL’s principal products are deferred annuities (including fixed indexed annuity (“FIA”) contracts), immediate annuities and life insurance products. 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. Our reporting segments reflect the manner by which our chief operating decision makers view and manage the business. We currently distribute and service primarily fixed rate annuities, including FIAs. Therefore, we have only one reporting segment that our chief operating decision makers use to manage our business. Premiums and annuity deposits (net of coinsurance), which are not included as revenues (except for traditional premiums) in the accompanying Consolidated Statements of Operations, collected during the years ended September 30, 2015 , 2014 and 2013 , by product type were as follows: Year ended September 30, Product Type 2015 2014 2013 Fixed indexed annuities $ 2,185 $ 1,451 $ 983 Fixed rate annuities 211 708 38 Single premium immediate annuities 16 10 7 Life insurance (a) 163 143 119 Total $ 2,575 $ 2,312 $ 1,147 (a) Life insurance includes Universal Life (“UL”) and traditional life insurance products. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Significant Accounting Policies

Significant Accounting Policies and Practices	12 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies and Practices	Significant Accounting Policies and Practices Principles of Consolidation The accompanying audited consolidated financial statements include the accounts of the Company and all other entities in which FGL has a controlling financial interest. All intercompany accounts and transactions have been eliminated in consolidation. We are involved in certain entities that are considered variable interest entities ("VIEs") as defined under U.S. GAAP. Our involvement with VIEs is primarily to invest in assets that allow us to gain exposure to a broadly diversified portfolio of asset classes. A VIE is an entity that does not have sufficient equity to finance its own activities without additional financial support or where investors lack certain characteristics of a controlling financial interest. We assess our relationships to determine if we have the ability to direct the activities, or otherwise exert control to evaluate if we are the primary beneficiary of the VIE. See "Note 4. Investments" to the Company’s Consolidated Financial Statements for additional information on the Company’s investments in unconsolidated VIEs. Revenue Recognition Insurance Premiums The Company’s insurance premiums for traditional life insurance products are recognized as revenue when due from the contractholder. The Company’s traditional life insurance products include those products with fixed and guaranteed premiums and benefits and consist primarily of term life insurance and certain annuities with life contingencies. Premium collections for fixed indexed and fixed rate annuities, indexed universal life (“IUL”) policies and immediate annuities without life contingency are reported as deposit liabilities (i.e., contractholder funds) instead of as revenues. Similarly, cash payments to policyholders are reported as decreases in the liability for contractholder funds and not as expenses. Sources of revenues for products accounted for as deposit liabilities are net investment income, surrender and other charges deducted from contractholder funds, and net realized gains (losses) on investments. Net Investment Income Dividends and interest income, recorded in “Net investment income”, are recognized when earned. Income or losses upon call or prepayment of available-for-sale fixed maturity securities is recognized in net investment income. Amortization of premiums and accretion of discounts on investments in fixed maturity securities are reflected in “Net investment income” over the contractual terms of the investments in a manner that produces a constant effective yield. For mortgage-backed and asset-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’’. Net Investment Gains (Losses) Net investment gains (losses) include realized gains and losses from the sale of investments, write-downs for other-than-temporary impairments ("OTTI") of AFS investments, and gains and losses on derivative investments. Realized gains and losses on the sale of investments are determined using the specific identification method. Product Fees Product fee revenue from IUL products and deferred annuities is comprised of policy and contract fees charged for the cost of insurance, and policy administration and rider fees. Fees are assessed on a monthly basis and recognized as revenue when assessed and earned. Product fee revenue also includes surrender charges which are collected and recognized as revenue when the policy is surrendered. Benefits and Other Changes in Policy Reserves Benefit expenses for deferred annuity, FIA and IUL policies include index credits and interest credited to contractholder account balances and benefit claims incurred during the period in excess of contract account balances. Interest crediting rates associated with funds invested in the general account of our insurance subsidiaries during 2013 through 2015 ranged from 0.0% to 6.0% for deferred annuities and FIA's, combined, and 0.0% to 4.5% for IUL's. Other changes in policy reserves include the change in the fair value of the FIA embedded derivative and the change in the reserve for secondary guarantee benefit payments. Other changes in policy reserves also include the change in reserves for life insurance products. For traditional life and immediate annuities, policy benefit claims are charged to expense in the period that the claims are incurred. Stock-Based Compensation In general, we expense the fair value of stock awards included in our incentive compensation plans. As of the date our stock awards are approved and communicated to the recipients, the fair value of stock options is determined using a Black-Scholes options valuation methodology, and the fair value of other stock awards is based upon the market value of the stock. The fair value of the awards is expensed over the performance or service period, which generally corresponds to the vesting period, and is recognized as an increase to “Additional paid-in capital” in “Stockholders’ equity”. We classify certain stock awards as liabilities. For these awards, the fair value is classified as a liability on our Consolidated Balance Sheets, and the liability is marked-to-market through net income at the end of each reporting period. Stock-based compensation expense is reflected in “Acquisition and operating expenses, net of deferrals” on our Consolidated Statements of Operations. Interest Expense Interest expense on our debt is recognized as due and any associated premiums, discounts, and costs are amortized (accreted) over the term of the related borrowing utilizing the straight line method. Interest expense also includes non-use fees on the revolving credit facility entered into in August 2014. Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing earnings available to common shareholders by the average common shares outstanding. Diluted EPS is computed assuming the conversion or exercise of nonvested stock, stock options, and performance share units outstanding during the year. Stock options are excluded from the computation of diluted EPS, based on the application of the treasury stock method, if they are anti-dilutive. Cash and Cash Equivalents The Company considers all highly liquid debt instruments purchased with original maturities of three months or less to be cash equivalents. As of September 30, 2015 and 2014 , there were no cash equivalents. Investments Investment Securities The Company’s investments in debt and equity securities have been designated as AFS and are carried at fair value with unrealized gains and losses included in “Accumulated other comprehensive income” (“AOCI”), net of associated intangibles “shadow adjustments” (discussed in "Note 7. Intangibles" to the Company’s Consolidated Financial Statements ) and deferred income taxes. FS Holdco held trading equity securities during the year ended September 30, 2013, however there were no trading securities held at September 30, 2013. Trading securities were carried at fair value and changes in fair value were recorded in “Net investment gains (losses)” on the Consolidated Statements of Operations. Available-for-Sale Securities Other-Than-Temporary Impairments The Company regularly reviews AFS securities for declines in fair value that it determines to be other-than-temporary. For an equity security, if the Company does not have the ability and intent to hold the security for a sufficient period of time to allow for a recovery in value, it concludes that an OTTI has occurred and the cost of the equity security is written down to the current fair value, with a corresponding charge to “Net investment gains (losses)” in the accompanying Consolidated Statements of Operations. When assessing its ability and intent to hold an equity security to recovery, the Company considers, among other things, the severity and duration of the decline in fair value of the equity security as well as the cause of the decline, a fundamental analysis of the liquidity, business prospects and the overall financial condition of the issuer. For its fixed maturity available-for-sale securities, the Company generally considers the following in determining whether its unrealized losses are other-than-temporary: • The estimated range and period until recovery; • Current delinquencies and nonperforming assets of underlying collateral; • Expected future default rates; • Collateral value by vintage, geographic region, industry concentration or property type; • Subordination levels or other credit enhancements as of the balance sheet date as compared to origination; and • Contractual and regulatory cash obligations. The Company recognizes OTTI on debt (including redeemable and perpetual preferred stocks) securities in an unrealized loss position when one of the following circumstances exists: • The Company does not expect full recovery of its amortized cost based on the estimate of cash flows expected to be collected; • The Company intends to sell a security; or • It is more likely than not that the Company will be required to sell a security prior to recovery. If the Company intends to sell a debt security or it is more likely than not the Company will be required to sell the security before recovery of its amortized cost basis and the fair value of the security is below amortized cost, the Company will conclude that an OTTI has occurred and the amortized cost is written down to current fair value, with a corresponding charge to “Net investment gains (losses)” in the accompanying Consolidated Statements of Operations. If the Company does not intend to sell a debt security or it is more likely than not the Company will not be required to sell a debt security before recovery of its amortized cost basis and the present value of the cash flows expected to be collected is less than the amortized cost of the security (referred to as the credit loss), an OTTI has occurred and the amortized cost is written down to the estimated recovery value with a corresponding charge to “Net investment gains (losses)” in the accompanying Consolidated Statements of Operations, as this amount is deemed the credit loss portion of the OTTI. The remainder of the decline to fair value is recorded in AOCI as unrealized OTTI on available-for-sale securities, as this amount is considered a non-credit (i.e., recoverable) impairment. When assessing the Company’s intent to sell a debt security or if it is more likely than not the Company will be required to sell a debt security before recovery of its cost basis, the Company evaluates facts and circumstances such as, but not limited to, decisions to reposition the Company’s security portfolio, sale of securities to meet cash flow needs and sales of securities to capitalize on favorable pricing and tax planning strategies. In order to determine the amount of the credit loss for a security, the Company calculates the recovery value by performing a discounted cash flow analysis based on the current cash flows and future cash flows the Company expects to recover. The discount rate is the effective interest rate implicit in the underlying security. The effective interest rate is the original purchased yield or the yield at the date the debt security was previously impaired. When evaluating redeemable preferred stocks for OTTI the Company applies the accounting policy described above for debt securities. Additionally, the SEC’s staff in the Office of the Chief Accountant issued a letter (SEC OTTI Release) to the Financial Accounting Standards Board (“FASB”) on October 14, 2008, providing clarifying guidance on how to assess impairments of perpetual preferred securities (“PPS”), including perpetual preferred stock. After consultation with and concurrence of the FASB staff, the SEC staff has concluded that it will not object to an issuer treating a PPS similar to a debt security in an OTTI evaluation (including an anticipated recovery period), provided there has been no evidence of a deterioration in credit of the issuer. Consequently, when such criteria is met we apply the OTTI guidance of debt securities to perpetual preferred stock. When evaluating mortgage-backed securities and asset-backed securities, the Company considers a number of pool-specific factors as well as market level factors when determining whether or not the impairment on the security is temporary or other-than-temporary. The most important factor is the performance of the underlying collateral in the security and the trends of that performance. The Company uses this information about the collateral to forecast the timing and rate of mortgage loan defaults, including making projections for loans that are already delinquent and for those loans that are currently performing but may become delinquent in the future. Other factors used in this analysis include type of underlying collateral (e.g., prime, Alternative A-paper (“Alt-A”), or subprime), geographic distribution of underlying loans and timing of liquidations by state. Once default rates and timing assumptions are determined, the Company then makes assumptions regarding the severity of a default if it were to occur. Factors that impact the severity assumption include expectations for future home price appreciation or depreciation, loan size, first lien versus second lien, existence of loan level private mortgage insurance, type of occupancy and geographic distribution of loans. Once default and severity assumptions are determined for the security in question, cash flows for the underlying collateral are projected, including expected defaults and prepayments. These cash flows on the collateral are then translated to cash flows on the Company’s tranche based on the cash flow waterfall of the entire capital security structure. If this analysis indicates the entire principal on a particular security will not be returned, the security is reviewed for OTTI by comparing the present value of expected cash flows to amortized cost. To the extent that the security has already been impaired or was purchased at a discount, such that the amortized cost of the security is less than or equal to the present value of cash flows expected to be collected, no impairment is required. The Company also considers the ability of monoline insurers to meet their contractual guarantees on wrapped mortgage-backed securities. Otherwise, if the amortized cost of the security is greater than the present value of the cash flows expected to be collected, then an OTTI is recognized. The Company includes on the face of the Consolidated Statements of Operations the total OTTI recognized in "Net investment gains (losses)", with an offset for the amount of non-credit impairments recognized in AOCI. The Company discloses the amount of OTTI recognized in AOCI and other disclosures related to OTTI in "Note 4. Investments" to the Company’s Consolidated Financial Statements and the Consolidated Statements of Comprehensive Income. Mortgage Loans on Real Estate The Company’s mortgage loans on real estate are all commercial mortgage loans, which are reported at amortized cost, less impairment write-downs and allowance for losses. If a mortgage loan is determined to be impaired (i.e., when it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement or the loan is modified in a troubled debt restructuring), the carrying value of the mortgage loan is reduced to the lower of either the present value of expected cash flows from the loan, discounted at the loan’s original purchase yield, or fair value of the collateral. For those mortgages that are determined to require foreclosure, the carrying value is reduced to the fair value of the underlying collateral, net of estimated costs to obtain and sell at the point of foreclosure. The carrying value of the impaired loans is reduced by establishing an allowance with the offset recorded in "Net investment gains (losses)" in the Consolidated Statements of Operations. Mortgage loans are evaluated by the Company’s investment professionals, including an appraisal of loan-specific credit quality, property characteristics and market trends. Loan performance is continuously monitored on a loan-specific basis throughout the year. The Company’s review includes submitted appraisals, operating statements, rent revenues and annual inspection reports, among other items. This review evaluates whether the properties are performing at a consistent and acceptable level to secure the debt. Mortgages are rated for the purpose of quantifying the level of risk. Those loans with higher risk are placed on a watch list and are closely monitored for collateral deficiency or other credit events that may lead to a potential loss of principal or interest. The Company defines delinquent mortgage loans consistent with industry practice as 30 days past due. Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Loan origination fees and direct costs, as well as premiums and discounts, are amortized as level yield adjustments over the respective loan terms. Unamortized net fees or costs are recognized upon early repayment of the loans. Loan commitment fees are deferred and amortized on an effective yield basis over the term of the loan. We establish mortgage loan valuation allowances both on a loan specific basis for those loans considered impaired where a property specific or market specific risk has been identified that could likely result in a future loss, as well as for pools of loans with similar risk characteristics where a property specific or market specific risk has not been identified, but for which we expect to incur a loss. Accordingly, a valuation allowance is provided to absorb these estimated probable credit losses. The determination of the amount of valuation allowances is based upon our periodic evaluation and assessment of inherent risks associated with our loan portfolios. Such evaluations and assessments are based upon several factors, including our experience for loan losses, defaults and loss severity, and loss expectations for loans with similar risk characteristics. We evaluate and monitor loan-to-value ("LTV") ratios and debt service coverage ("DSC") ratios of our loans as indicators of potential risk of default in establishing our valuation allowance. Derivative Financial Instruments The Company hedges certain portions of its exposure to product related equity market risk by entering into derivative transactions. All of such derivative instruments are recognized as either assets or liabilities in the accompanying Consolidated Balance Sheets at fair value. The change in fair value is recognized within “Net investment gains (losses)” in the accompanying Consolidated Statements of Operations . The Company purchases financial instruments and issues products that may contain embedded derivative instruments. If it is determined that the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract for measurement purposes. The embedded derivative is carried at fair value with changes in fair value reported in the accompanying Consolidated Statements of Operations . Limited Partnership Investment Our investment in a limited partnership is included in Other invested assets on our Consolidated Balance Sheets. We account for our investments in the limited partnership using the equity method to determine the carrying value. Income from the limited partnership is included in Net investment income in the accompanying Consolidated Statements of Operations. Recognition of income is delayed due to the availability of the related financial statements, which are obtained from the partnership’s general partner generally on a three-month delay. Management also meets quarterly with general partner to determine whether any credit or other market events have occurred since prior quarter financial statements to ensure any material events are properly included in current quarter valuation and investment income. In addition, the impact of audit adjustments related to completion of calendar-year financial statement audits of the limited partnership are typically received during the third quarter of each fiscal year. Accordingly, our investment income from the limited partnership investment for any fiscal-year period may not include the complete impact of the change in the underlying net assets for the partnership for that fiscal-year period. Intangible Assets The Company’s intangible assets include value of business acquired (“VOBA”), deferred acquisition cost (“DAC”) and deferred sales inducements (“DSI”). VOBA is an intangible asset that reflects the estimated fair value of in-force contracts in a life insurance company acquisition less the amount recorded as insurance contract liabilities. It represents the portion of the purchase price that is allocated to the value of the rights to receive future cash flows from the business in force at the acquisition date. DAC represents costs that are related directly to new or renewal insurance contracts, which may be deferred to the extent recoverable. These costs include incremental direct costs of contract acquisition, primarily commissions, as well as certain costs related directly to underwriting, policy issuance and processing. DSI represents up front bonus credits and vesting bonuses to policyholder account values, which are accounted for similarly to DAC and are recorded within the DAC asset balance. The methodology for determining the amortization of DAC and VOBA varies by product type. For all insurance contracts accounted for under long-duration contract deposit accounting, amortization is based on assumptions consistent with those used in the development of the underlying contract adjusted for emerging experience and expected trends. DAC and VOBA amortization are reported within “Amortization of intangibles” in the accompanying Consolidated Statements of Operations. DAC and VOBA for investment-type products and DAC for IUL products are generally amortized over the lives of the policies in relation to the incidence of estimated gross profits (“EGPs”) from investment income, surrender charges and other product fees, policy benefits, maintenance expenses, mortality net of reinsurance ceded and expense margins, and recognized gains (losses) on investments and changes in fair value of the coinsurance embedded derivative. Changes in assumptions can have a significant impact on DAC and VOBA balances and amortization rates. Due to the relative size and sensitivity to minor changes in underlying assumptions of DAC and VOBA balances, the Company performs quarterly and annual analyses of DAC and VOBA for the annuity and IUL businesses. The DAC and VOBA balances are also periodically evaluated for recoverability to ensure that the unamortized portion does not exceed the expected recoverable amounts. At each evaluation date, actual historical gross profits are reflected, and estimated future gross profits and related assumptions are evaluated for continued reasonableness. Any adjustment in estimated future gross profits requires that the amortization rate be revised (“unlocking”) retroactively to the date of the policy or contract issuance. The cumulative unlocking adjustment is recognized as a component of current period amortization. The carrying amounts of DAC and VOBA are adjusted for the effects of realized and unrealized gains and losses on debt securities classified as available-for-sale and certain derivatives and embedded derivatives. For investment-type products, the DAC and VOBA assets are adjusted for the impact of unrealized gains (losses) on investments as if these gains (losses) had been realized, with corresponding credits or charges included in AOCI. Amortization expense of DAC and VOBA reflects an assumption for an expected level of credit-related investment losses. When actual credit-related investment losses are realized, the Company performs a retrospective unlocking of DAC and VOBA amortization as actual margins vary from expected margins. This unlocking is reflected in the accompanying Consolidated Statements of Operations. Reinsurance The Company’s insurance subsidiaries enter into reinsurance agreements with other companies in the normal course of business. The assets, liabilities, premiums and benefits of certain reinsurance contracts are presented on a net basis in the accompanying Consolidated Balance Sheets and Consolidated Statements of Operations , respectively, when there is a right of offset explicit in the reinsurance agreements. All other reinsurance agreements are reported on a gross basis in the Company’s Consolidated Balance Sheets as an asset for amounts recoverable from reinsurers or as a component of other liabilities for amounts, such as premiums, owed to the reinsurers, with the exception of amounts for which the right of offset also exists. Premiums and benefits are reported net of insurance ceded. Income Taxes FGL and certain of its non-life insurance subsidiaries are included in the consolidated U.S. Federal income tax return of HRG. The Company’s life insurance subsidiaries file a consolidated life insurance income tax return. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company assesses the recoverability of its deferred tax assets in each reporting period under the guidance outlined within Accounting Standards Codification (“ASC”) Topic 740, “Income Taxes”. The guidance requires an assessment of both positive and negative evidence in determining the realizability of deferred tax assets. A valuation allowance is required to reduce the Company’s deferred tax asset to an amount that is more likely than not to be realized. In determining the net deferred tax asset and valuation allowance, management is required to make judgments and estimates related to projections of future profitability. These judgments include the following: the timing and extent of the utilization of net operating loss carry-forwards, the reversals of temporary differences, and tax planning strategies. Because of the change in facts and circumstances described in "Note 11. Income Taxes" to the Company’s Consolidated Financial Statements , during the year ended September 30, 2014 the Company determined that a portion of its existing deferred tax assets that had previously had a valuation allowance placed against them, were now more likely than not recoverable. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company has the ability and intent to recover in a tax-free manner assets (or liabilities) with book/tax basis differences for which no deferred taxes have been provided, in accordance with ASC Topic 740. The Company applies the accounting guidance for uncertain tax positions which prescribes a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. The guidance also provides information on de-recognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Accrued interest expense and penalties related to uncertain tax positions are recorded in “Income tax expense (benefit)” in the Company’s Consolidated Statements of Operations . The Company had no unrecognized tax benefits related to uncertain tax positions as of September 30, 2015 and 2014 . Contractholder Funds The liabilities for contractholder funds for deferred annuities, IUL and UL policies consist of contract account balances that accrue to the benefit of the contractholders, excluding surrender charges and other liabilities. The liabilities for FIAs consist of the value of the host contract plus the value of the embedded derivative. The embedded derivative is carried at fair value in “Contractholder funds” in the accompanying Consolidated Balance Sheets with changes in fair value reported in the accompanying Consolidated Statements of Operations. Liabilities for immediate annuities without life contingencies are the present value of future benefits. Liabilities for the secondary guarantees on UL-type products or Investment-type contracts are calculated by multiplying the benefit ratio by the cumulative assessments recorded from contract inception through the balance sheet date less the cumulative secondary guarantee benefit payments plus interest. If experience or assumption changes result in a new benefit ratio, the reserves are adjusted to reflect the changes in a manner similar to the unlocking of DAC and VOBA. The accounting for secondary guarantee benefits impacts, and is impacted by, EGPs used to calculate amortization of DAC and VOBA. Future Policy Benefits The liabilities for future policy benefits and claim reserves for traditional life policies and life contingent pay-out annuity policies are computed using assumptions for investment yields, mortality and withdrawals based principally on generally accepted actuarial methods and assumptions at the time of contract issue. Investment yield assumptions for traditional direct life reserves for all contracts range from 5.8% to 6.2% . The investment yield assumptions for life contingent pay-out annuities range from 0.8% to 6.0% . Federal Home Loan Bank of Atlanta Agreements Contractholder funds include funds related to funding agreements that have been issued by the Company to the Federal Home Loan Bank of Atlanta (“FHLB”) as a funding medium for single premium funding agreements. Funding agreements were issued to the FHLB in 2012 and prior periods. The funding agreements (i.e., immediate annuity contracts without life contingencies) provide a guaranteed stream of payments. Single premiums were received at the initiation of the funding agreements and were in the form of advances from the FHLB. Payments under the funding agreements extend through 2022. The reserves for the funding agreements totaled $482 and $526 at September 30, 2015 and 2014 , respectively, and are included in “Contractholder funds” in the accompanying Consolidated Balance Sheets. In accordance with the 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 $524 and $ 573 at September 30, 2015 and 2014 , respectively. Commitments and Contingencies Contingencies arising from environmental remediation costs, regulatory judgments, claims, assessments, guarantees, litigation, recourse reserves, fines, penalties and other sources are recorded when deemed probable and reasonably estimable. Reclassifications and Retrospective Adjustments Certain prior year amounts have been reclassified or combined to conform to the current year presentation. These reclassifications and combinations had no effect on previously reported results of operations. Recent Accounting Pronouncements Investments in Qualified Affordable Housing Projects In January 2014, the FASB issued amended guidance (ASU 2014-01, Investments - Equity Method and Joint Vent

Significant Risks and Uncertain

Significant Risks and Uncertainties	12 Months Ended
	Sep. 30, 2014
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. The Company’s significant estimates which are susceptible to change in the near term relate to (1) recognition of deferred tax assets and related valuation allowances, (2) fair value of certain invested assets and derivatives including embedded derivatives (see "Note 4. Investments", "Note 5. Derivative Financial Instruments" and "Note 6. Fair Value of Financial Instruments" to the Company’s Consolidated Financial Statements ), (3) OTTI of available-for-sale investments (see "Note 4. Investments" to the Company’s Consolidated Financial Statements ), (4) amortization of intangibles (see "Note 7. Intangible Assets" to the Company’s Consolidated Financial Statements ), (5) estimates of reserves for loss contingencies, including litigation and regulatory reserves (see "Note 12. Commitments and Contingencies" to the Company’s Consolidated Financial Statements ), (6) reserves for future policy benefits and product guarantees and (7) recognition of stock compensation expense (see "Note 10. Stock Compensation" to the Company’s Consolidated Financial Statements ). The Company periodically, and at least annually, reviews the assumptions associated with reserves for policy benefits and products guarantees and amortization of intangibles. As part of the assumption review process that occurred in September 2015 , changes were made to the surrender rates and earned rates to bring assumptions in line with current and expected future experience. As part of the assumption review process in September 2014 , changes were made to the earned rates and the guaranteed option costs, and as part of the September 2013 review, changes were made to the surrender rates, earned rates and future index credits. The change in assumptions as of September 30, 2015 resulted in a net increase in future expected margins and a corresponding decrease in “unlocking” and amortization expense and increas e intangible assets of $55 . These assumptions are also used in the reserve calculation and resulted in an increase in reserves of $18 for the year ended September 30, 2015 . The change in assumptions as of September 30, 2014 resulted in a net decrease in future expected margins and a corresponding increase in “unlocking” and amortization expense and decrease to intangible assets of $2 . These assumptions are also used in the reserve calculation and resulted in a decrease in reserves of $4 in the year ended September 30, 2014 . The change in assumptions as of September 30, 2013 resulted in a net increase in future expected margins and a corresponding decrease in “unlocking” and amortization expense and increase in intangible assets of $33 . These assumptions are also used in the FIA embedded derivative reserve calculation and resulted in a decrease in benefits and other changes in policy reserves and a decrease in reserves of $45 during the year ended September 30, 2013, net of related intangible amortization. Concentrations of Financial Instruments As of September 30, 2015 and 2014 , the Company’s most significant investment in one industry, excluding U.S. Government securities, was its investment securities in the banking industry with a total fair value of $1,979 or 10% and $2,240 or 12% , respectively, of the invested assets portfolio. The Company’s holdings in this industry include investments in 83 different issuers with the top ten investments accounting for 39% of the total holdings in this industry. As of September 30, 2015 , the Company had investments in 1 issuer, Wells Fargo & Company , that exceeded 10% of shareholders' equity with a total fair value of $170 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 stockholders 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 September 30, 2015 and 2014 was in Wells Fargo & Company which had a fair value of $170 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 FSRCI 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 issuer credit rating from Standard & Poor's Ratings Services ("S&P") as of September 30, 2015 . As of September 30, 2015 , the net amount recoverable from Wilton Re was $1,493 and the net amount recoverable from FSRCI was $1,227 . 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	12 Months Ended
	Sep. 30, 2015
Investments and Variable Interest Entities [Abstract]
Investments	1.25 1.00 - 1.25 N/A(a) September 30, 2015 LTV Ratios: Less than 50% $ 115 $ — $ 11 $ 126 25 % $ 125 25 % 50% to 60% 161 20 — 181 37 % 180 37 % 60% to 75% 185 — — 185 38 % 185 38 % Commercial mortgage loans $ 461 $ 20 $ 11 $ 492 100 % $ 490 100 % 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. We establish a general mortgage loan allowance based upon the underlying risk and quality of the mortgage loan portfolio using DSC ratio and LTV ratio. A higher LTV ratio will result in a higher allowance. A higher DSC ratio will result in a lower allowance. We believe that the DSC ratio is an indicator of default risk on loans. We believe that the LTV ratio is an indicator of the principal recovery risk for loans that do default. September 30, 2015 September 30, 2014 Gross balance commercial mortgage loans $ 492 $ 136 Allowance for loan loss (1 ) — Net balance commercial mortgage loans $ 491 $ 136 The Company recognizes a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At September 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: September 30, 2015 September 30, 2014 Current to 30 days $ 492 $ 136 Past due — — Total carrying value $ 492 $ 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 September 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 origination and 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 Consolidated Statements of Operations were as follows: Year ended September 30, 2015 2014 2013 Fixed maturity available-for-sale securities $ 799 $ 723 $ 685 Equity available-for-sale securities 33 23 15 Related party loans 6 7 9 Commercial mortgage loans 11 3 1 Invested cash and short-term investments 2 — 1 Other investments 20 20 13 Gross investment income 871 776 724 Investment expense (20 ) (16 ) (16 ) Net investment income $ 851 $ 760 $ 708 During third quarter 2015, we received notice that we are entitled to receive a settlement as a result of our ownership of certain RMBS 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 in "Note 2. Significant Accounting Policies and Practices" to the Company's Consolidated Financial Statements , we updated our cash flow projections for our best estimate of the recovery as of September 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 year ended September 30, 2015 . The weighted average remaining life on the affected securities is approximately 6 years. Net Investment (Losses) Gains Details underlying “Net investment (losses) gains” reported on the accompanying Consolidated Statements of Operations were as follows: Year ended September 30, 2015 2014 2013 Net realized gains on fixed maturity available-for-sale securities $ 11 $ 104 $ 332 Realized gains (losses) on equity securities — (1 ) 12 Net realized gains on securities 11 103 344 Realized gains on certain derivative instruments 108 209 145 Unrealized (losses) gains on certain derivative instruments (215 ) 37 24 Change in fair value of reinsurance related embedded derivative 92 (42 ) 6 Change in fair value of other derivatives and embedded derivatives 7 2 — Realized (losses) gains on derivatives and embedded derivatives (8 ) 206 175 Realized (losses) on other invested assets (40 ) (2 ) (1 ) Net investment (losses) gains $ (37 ) $ 307 $ 518 For the year ended September 30, 2015 , principal repayments, tenders, and proceeds from the sale of fixed maturity available-for-sale securities totaled $4,777 , gross gains on such sales totaled $83 and gross losses totaled $72 , respectively. For the year ended September 30, 2014 , principal repayments, tenders, and proceeds from the sale of fixed maturity available-for-sale securities, totaled $5,033 , gross gains on such sales totaled $109 and gross losses totaled $5 respectively. For the year ended September 30, 2013 , principal repayments, tenders, and proceeds from the sale of fixed maturity available-for-sale securities, totaled $8,920 , gross gains on such sales totaled $351 and gross losses totaled $19 , 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 $251 and $304 as of September 30, 2015 and 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 $57 and $30 as of September 30, 2015 and 2014 , respectively. During the third quarter fiscal quarter ended June 30, 2015, 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 initial funding occurred March 20, 2015 with the remaining commitment 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 occurred June 30, 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 AOCI net of associated adjustments for VOBA, DAC and deferred income taxes. The Company’s consolidated investments at September 30, 2015 and 2014 are summarized as follows: September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for sale securities Asset-backed securities $ 2,148 $ 5 $ (47 ) $ 2,106 $ 2,106 Commercial mortgage-backed securities 878 14 (10 ) 882 882 Corporates 9,533 351 (354 ) 9,530 9,530 Equities 597 27 (4 ) 620 620 Hybrids 1,211 45 (42 ) 1,214 1,214 Municipals 1,520 103 (15 ) 1,608 1,608 Residential mortgage-backed securities 2,099 89 (26 ) 2,162 2,162 U.S. Government 233 11 — 244 244 Total available-for-sale securities 18,219 645 (498 ) 18,366 18,366 Derivative investments 218 13 (149 ) 82 82 Commercial mortgage loans 491 — — 491 491 Other invested assets 164 — (9 ) 155 155 Total investments $ 19,092 $ 658 $ (656 ) $ 19,094 $ 19,094 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 gross unrealized gains of $1 and gross unrealized losses of $2 related to the non-credit portion of OTTI on non-agency residential mortgage-backed securities ("RMBS") at September 30, 2015 and 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 $16,012 and $15,009 at September 30, 2015 and 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 for a period greater than twelve months during the years ended September 30, 2015 and 2014 . In accordance with the Company's 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 $524 and $573 at September 30, 2015 and 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. September 30, 2015 Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal and U.S. Government securities: Due in one year or less $ 156 $ 158 Due after one year through five years 1,801 1,818 Due after five years through ten years 2,947 2,948 Due after ten years 6,895 6,993 Subtotal 11,799 11,917 Other securities which provide for periodic payments: Asset-backed securities 2,148 2,106 Commercial mortgage-backed securities 878 882 Structured hybrids 698 679 Residential mortgage-backed securities 2,099 2,162 Subtotal 5,823 5,829 Total fixed maturity available-for-sale securities $ 17,622 $ 17,746 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 fair values of the securities presented in the table below were not OTTI as of September 30, 2015 . The fair value and gross unrealized losses of available-for-sale securities, aggregated by investment category, were as follows: September 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 $ 816 $ (14 ) $ 833 $ (33 ) $ 1,649 $ (47 ) Commercial mortgage-backed securities 262 (8 ) 133 (2 ) 395 (10 ) Corporates 2,342 (201 ) 1,328 (153 ) 3,670 (354 ) Equities 37 — 106 (4 ) 143 (4 ) Hybrids 88 (4 ) 542 (38 ) 630 (42 ) Municipals 220 (6 ) 192 (9 ) 412 (15 ) Residential mortgage-backed securities 423 (10 ) 294 (16 ) 717 (26 ) Total available-for-sale securities $ 4,188 $ (243 ) $ 3,428 $ (255 ) $ 7,616 $ (498 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 712 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 396 Total number of available-for-sale securities in an unrealized loss position 1,108 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 September 30, 2015 and 2014 , securities in an unrealized loss position were primarily concentrated in investment grade corporate debt instruments. At September 30, 2015 and 2014 , securities with a fair value of $302 and $0 , respectively, had an unrealized loss greater than 20% of amortized cost (excluding U.S. Government and U.S. Government sponsored agency securities), which represented less than 2% 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 years ended September 30, 2015 and 2014 , for which a portion of the OTTI was recognized in AOCI: Year ended September 30, 2015 2014 Beginning balance $ 3 $ 3 Increases attributable to credit losses on securities: OTTI was previously recognized — — OTTI was not previously recognized — — Ending balance $ 3 $ 3 For the year ended September 30, 2015 , the Company recognized OTTI losses in operations totaling $82 , including credit impairments of $74 , and change-of-intent impairments of $8 , related to fixed maturity securities and other invested assets with an amortized cost of $488 and a fair value of $406 at September 30, 2015 . For the year ended September 30, 2014 , the Company recognized OTTI losses in operations totaling $1 , including credit impairments of $1 and change-of-intent impairments of $0 related to fixed maturity securities, and low income housing tax credit securities with an amortized cost of $2 and a fair value of $1 at September 30, 2014 . For the year ended September 30, 2013 , the Company recognized OTTI losses in operations totaling $3 , including credit impairments of $1 , and change-of-intent impairments of $2 , related to fixed maturity securities, non-agency residential mortgage-backed securities and low income housing tax credit securities with an amortized cost of $10 and a fair value of $7 at September 30, 2013 . 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: Year ended September 30, 2015 2014 2013 OTTI recognized in net income: Asset-backed securities $ 36 $ — $ — Corporates 2 — 1 Hybrids — — 1 Residential mortgage-backed securities 8 — — Other invested assets 36 1 1 Total $ 82 $ 1 $ 3 The portion of OTTI recognized in AOCI is disclosed in the Consolidated Statements of Comprehensive Income. During the year ended September 30, 2015 , the Company recognized impairment losses of $82 ; including $59 related to direct and indirect investments in Radioshack Corporation ("RSH") and $13 related to investments with Salus Capital Partners, LLC ("Salus"), an affiliate of FGL. Additionally, the Company incurred OTTI losses of $10 primarily related to change-of-intent. In the second fiscal quarter ended March 31, 2015, the Company recognized credit-related impairment losses of $59 , net of reinsurance, on available-for-sale debt securities, available-for-sale equity securities and other invested assets related to direct and indirect investments in RSH and other loans because the Company concluded the decline in the fair value of these investments was other than temporary. A summary of the RSH-related impairments by investment is as follows: Year ended, September 30, 2015 Type Balance Sheet Classification OTTI Losses Collateralized loan obligations ("CLOs") (a) Fixed maturities, available-for-sale $ 25 Preferred equity (a) Equity securities, available-for-sale 21 Participations Other invested assets 35 OTTI, gross of reinsurance $ 81 CLOs (a) Fixed maturities, available-for-sale (1 ) Preferred equity (a) Equity securities, available-for-sale (21 ) OTTI, net of reinsurance $ 59 (a) Preferred equity and a portion of the CLOs are included in the FSRCI funds withheld portfolio, accordingly all income and losses 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 CLO and the Salus participation in RSH, both of which Salus owns investment interests in. • Participations - The Company considered the recovery of the underlying loan collateral for RSH based on the evidence obtained. 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 OTTI. As of September 30, 2015, substantially all of RSH assets in the estate have been converted to cash through liquidation and the fair value of the Company's RSH-related holdings reflects these cash balances, net of expenses. While substantially all assets represent cash, the wind-down process continues; therefore, some variability still exists in the fair value related to these costs. Please refer to "Note 6. Fair Value of Financial Instruments” to the Company’s Consolidated Financial Statements for more detail on the investments impacted by this impairment. Additionally, during the year ended September 30, 2015 , the Company recognized credit-related impairment losses of $13 , net of reinsurance, on available-for-sale debt securities, available-for-sale equity securities and other invested assets related to CLOs, loan participations and a direct preferred equity investment with Salus. A summary of the Salus-related impairments by investment is as follows: Year ended September 30, 2015 Type Balance Sheet Classification OTTI Losses CLOs Fixed maturities, available-for-sale $ 13 Preferred equity (a) Equity securities, available-for-sale 9 Participations Other invested assets 2 OTTI, gross of reinsurance $ 24 CLOs (a) Fixed maturities, available-for-sale (1 ) Preferred equity (a) Equity securities, available-for-sale (9 ) Participations (a) Other invested assets (1 ) OTTI, net of reinsurance $ 13 (a) Preferred equity and a portion of the CLOs and participations are included in the FSRCI funds withheld portfolio, accordingly all income and losses on these assets are ceded to FSRCI. The CLO OTTI above related to a decline in valuation of the equity tranche of the Salus CLOs resulting from a decrease in the expected recovery of a loan in the underlying CLO portfolio. The preferred equity OTTI primarily related to business restructuring at Salus which eliminated the loan origination function lowering the expected future fee income to be earned by Salus. Mortgage Loans on Real Estate Commercial mortgage loans ("CMLs") represented approximately 3% and 1% of the Company’s total investments as of September 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: September 30, 2015 September 30, 2014 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Funeral Home $ 1 — % $ — — % Hotel 13 3 % — — % Industrial - General 38 8 % — — % Industrial - Warehouse 76 15 % 48 35 % Multifamily 64 13 % 38 28 % Office 137 28 % 44 33 % Retail 163 33 % 6 4 % Total commercial mortgage loans, gross of valuation allowance $ 492 $ 136 Valuation allowance (1 ) — Total commercial mortgage loans $ 491 100 % $ 136 100 % U.S. Region: East North Central $ 121 25 % $ 28 21 % East South Central 12 2 % — — % Middle Atlantic 87 18 % 11 8 % Mountain 42 9 % — — % New England 9 2 % — — % Pacific 113 23 % 61 45 % South Atlantic 69 13 % — — % West North Central 14 3 % 6 4 % West South Central 25 5 % 30 22 % Total commercial mortgage loans, gross of valuation allowance $ 492 $ 136 Valuation allowance (1 ) — Total commercial mortgage loans $ 491 100 % $ 136 100 % The Company had a CML portfolio with 100% of all CMLs having a LTV ratio of less than 75% at September 30, 2015 and September 30, 2014 . As of September 30, 2015 , all CMLs were current and had not experienced credit or other events which would require the recording of an OTTI loss. LTV and 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 September 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) September 30, 2015 LTV Ratios: Less than 50% $ 115 $ — $ 11 $ 126 25 % $ 125 25 % 50% to 60% 161 20 — 181 37 % 180 37 % 60% to 75% 185 — — 185 38 % 185 38 % Commercial mortgage loans $ 461 $ 20 $ 11 $ 492 100 % $ 490 100 % 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. We establish a general mortgage loan allowance based upon the underlying risk and quality of the mortgage loan portfolio using DSC ratio and LTV ratio. A higher LTV ratio will result in a higher allowance. A higher DSC ratio will result in a lower allowance. We believe that the DSC ratio is an indicator of default risk on loans. We believe that the LTV ratio is an indicator of the principal recovery risk for loans that do default. September 30, 2015 September 30, 2014 Gross balance commercial mortgage loans $ 492 $ 136 Allowance for loan loss (1 ) — Net balance commercial mortgage loans $ 491 $ 136 The Company recognizes a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At September 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: September 30, 2015 September 30, 2014 Current to 30 days $ 492 $ 136 Past due — — Total carrying value $ 492 $ 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 September 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 origination and 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 Consolidated Statements of Operations were as follows: Year ended September 30, 2015 2014 2013 Fixed maturity available-for-sale securities $ 799 $ 723 $ 685 Equity available-for-sale securities 33 23 15 Related party loans 6 7 9 Commercial mortgage loans 11 3 1 Invested cash and short-term investments 2 — 1 Other investments 20 20 13 Gross investment income 871 776 724 Investment expense (20 ) (16 ) (16 ) Net investment income $ 851 $ 760 $ 708 During third quarter 2015, we received notice that we are entitled to receive a settlement as a result of our ownership of certain RMBS 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 in "Note 2. Significant Accounting Policies and Practices" to the Company's Consolidated Financial Statements , we updated our cash flow projections for our best estimate of the recovery as of September 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 year ended September 30, 2015 . The weighted average remaining life on the affected securities is approximately 6 years. Net Investment (Losses) Gains Details underlying “Net investment (losses) gains” reported on the accompanying Consolidated Statements of Operations were as follows: Year ended September 30, 2015 2014 2013 Net realized gains on fixed maturity available-for-sale securities $ 11 $ 104 $ 332 Realized gains (losses) on equity securities — (1 ) 12 Net realized gains on securities 11 103 344 Realized gains on certain derivative instruments 108 209 145 Unrealized (losses) gains on certain derivative instruments (215 ) 37 24 Change in fair value of reinsurance related embedded derivative 92 (42 ) 6 Change in fair value of other derivatives and embedded derivatives 7 2 — Realized (losses) gains on derivatives and embedded derivatives (8 ) 206 175 Realized (losses) on other invested assets (40 ) (2 ) (1 ) Net investment (losses) gains $ (37 ) $ 307 $ 518 For the year ended September 30, 2015 , principal repayments, tenders, and proceeds from the sale of fixed maturity available-for-sale securities totaled $4,777 , gross gains on such sales totaled $83 and gross losses totaled $72 , respectively. For the year ended September 30, 2014 , principal repayments, tenders, and proceeds from the sale of fixed maturity available-for-sale securities, totaled $5,033 , gross gains on such sales totaled $109 and gross losses totaled $5 respectively. For the year ended September 30, 2013 , principal repayments, tenders, and proceeds from the sale of fixed maturity available-for-sale securities, totaled $8,920 , gross gains on such sales totaled $351 and gross losses totaled $19 , 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 $251 and $304 as of September 30, 2015 and 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 $57 and $30 as of September 30, 2015 and 2014 , respectively. During the third quarter fiscal quarter ended June 30, 2015, 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 initial funding occurred March 20, 2015 with the remaining commitment 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 occurred June 30, 2015, with the remaining commitment expected to fund through 2017.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Sep. 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 FIA contracts, is as follows: September 30, 2015 September 30, 2014 Assets: Derivative investments: Call options $ 81 $ 296 Futures contracts 1 — Other invested assets: Other derivatives and embedded derivatives 21 13 Other assets: Reinsurance related embedded derivative 168 76 $ 271 $ 385 Liabilities: Contractholder funds: FIA embedded derivative $ 2,149 $ 1,908 Funds withheld for reinsurance liabilities Call options payable to FSRCI 5 23 Other liabilities: Futures contracts — 1 $ 2,154 $ 1,932 The change in fair value of derivative instruments included in the accompanying Consolidated Statements of Operations is as follows: Year ended September 30, 2015 2014 2013 Revenues: Net investment (losses) gains: Call options $ (100 ) $ 220 $ 152 Futures contracts (7 ) 26 17 Other derivatives and embedded derivatives 7 2 — Reinsurance related embedded derivative 92 (42 ) 6 $ (8 ) $ 206 $ 175 Benefits and other changes in policy reserves: FIA embedded derivatives $ 241 $ 363 $ (6 ) 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 which was based on the actual return of the fund. At September 30, 2015 , the fair value of the fund link note and embedded derivative were $23 and $10 , respectively. 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. As of September 30, 2015 , four of the participating loans are denominated in Canadian ("CAD") currency which is different from FGL Insurance's functional currency. Two 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 Consolidated Statements of Operations . The value of the embedded derivatives at each balance sheet date, which is equal to the cumulative net foreign exchange loss recognized on these loan participations at the balance sheet date, net of an allowance for counterparty credit risk, was $1 and $2 at September 30, 2015 and 2014 , respectively. The Company had realized (losses) gains of $(1) , $2 and $0 for the years ended September 30, 2015 , 2014 and 2013 , respectively, related to its foreign exchange embedded derivatives included in "Net investment gains". 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, during the year ended September 30, 2015 Salus 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's ability to recover the foreign exchange losses under these swap agreements is such that the Company has established derivatives equal to FGL Insurance's cumulative net foreign exchange losses on these loan participations. The value of these derivatives are reflected in “Other invested assets” with the changes in the fair value reflected in the Company’s Consolidated Statements of Operations . Additionally, a subsidiary of the parent company of Salus and the Company's parent, 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 value of these derivatives at each balance sheet date is equal to the cumulative net realized foreign exchange loss recognized on these loan participations net of allowance for counterparty credit risk and was $10 at September 30, 2015 . The Company had realized gains of $10 for the year ended September 30, 2015 related to its foreign exchange derivatives included in "Net investment gains". Reinsurance Related Embedded Derivatives Effective December 31, 2012, FGL Insurance entered into a modified coinsurance arrangement with FSRCI, meaning that funds were withheld by FGL Insurance. This arrangement creates an obligation for FGL Insurance to pay FSRCI at a later date, which resulted in an embedded derivative. This embedded derivative is considered a total return swap with contractual returns that are attributable to the assets and liabilities associated with this reinsurance arrangement. The fair value of the total return swap is based on the change in fair value of the underlying assets held in the funds withheld portfolio. Investment results for the assets that support the coinsurance with funds withheld reinsurance arrangement, including gains and losses from sales, are passed directly to the reinsurer pursuant to contractual terms of the reinsurance arrangement. The reinsurance related embedded derivative is reported in “Other assets” on the Consolidated Balance Sheets and the related gains or losses are reported in “Net investment gains” on the Consolidated Statements of Operations. FIA Contracts The Company has FIA Contracts that permit the holder to elect an interest rate return or an equity index linked component, where interest credited to the contracts is linked to the performance of various equity indices, primarily the S&P 500 Index. This feature represents an embedded derivative under U.S. GAAP. The FIA embedded derivative is valued at fair value and included in the liability for contractholder funds in the accompanying Consolidated Balance Sheets with changes in fair value included as a component of “Benefits and other changes in policy reserves” in the Consolidated Statements of Operations. The Company purchases derivatives consisting of a combination of call options and futures contracts on the applicable market indices to fund the index credits due to FIA contractholders. The call options are one, two, three and five year options purchased to match the funding requirements of the underlying policies. On the respective anniversary dates of the index policies, the index used to compute the interest credit is reset and the Company purchases new one, two, three or five year call options to fund the next index credit. The Company manages the cost of these purchases through the terms of its FIA contracts, which permit the Company to change caps, spreads or participation rates, subject to guaranteed minimums, on each contract’s anniversary date. The change in the fair value of the call options and futures contracts is generally designed to offset the portion of the change in the fair value of the FIA embedded derivative related to index performance. The call options and futures contracts are marked to fair value with the change in fair value included as a component of “Net investment gains.” The change in fair value of the call options and futures contracts includes the gains and losses recognized at the expiration of the instrument term or upon early termination and the changes in fair value of open positions. Other market exposures are hedged periodically depending on market conditions and the Company’s risk tolerance. The Company’s FIA hedging strategy economically hedges the equity returns and exposes the Company to the risk that unhedged market exposures result in divergence between changes in the fair value of the liabilities and the hedging assets. The Company uses a variety of techniques, including direct estimation of market sensitivities and value-at-risk to monitor this risk daily. The Company intends to continue to adjust the hedging strategy as market conditions and the Company’s risk tolerance change. Call option payable to FSRCI Under the terms of the modified coinsurance arrangement with FSRCI, FGL Insurance is required to pay FSRCI a portion of the net cost of equity option purchases and the proceeds from expirations related to the equity options which hedge the index credit feature of the reinsured FIA contracts. Accordingly, the payable to FSRCI is reflected in "Funds withheld for reinsurance liabilities" as of the balance sheet date with changes in fair value reflected in the Company's Consolidated Statements of Operations. Credit Risk The Company is exposed to credit loss in the event of non-performance by its counterparties on the call options and reflects assumptions regarding this non-performance risk in the fair value of the call options. The non-performance 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: September 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 $ 2,233 $ 16 $ — $ 16 $ 2,240 $ 93 $ 53 $ 40 Deutsche Bank A/A3/BBB+ 2,482 26 — 26 2,810 108 72 36 Morgan Stanley */A1/A 4,086 35 7 28 2,295 85 63 22 Barclay's Bank A/A2/A- 392 4 — 4 258 10 — 10 $ 9,193 $ 81 $ 7 $ 74 $ 7,603 $ 296 $ 188 $ 108 (a) An * represents credit ratings that were not available. 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 September 30, 2015 and 2014 , counterparties posted $ 7 and $188 of collateral of which $7 and $135 is included in "Cash and cash equivalents" with an associated payable for this collateral included in "Other liabilities" on the Consolidated Balance Sheets . The remaining $0 and $53 of non-cash collateral was held by a third-party custodian and is not included in the Company's Consolidated Balance Sheets at September 30, 2015 and 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 $ 74 and $ 108 at September 30, 2015 and 2014 , respectively. The Company held 738 and 2,348 futures contracts at September 30, 2015 and 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 Consolidated Balance Sheets . The amount of cash collateral held by the counterparties for such contracts was $3 and $11 at September 30, 2015 and 2014 , respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Sep. 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, related party loans, portions of other invested assets and debt which are disclosed later within this footnote, are summarized according to the hierarchy previously described, as follows: September 30, 2015 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 502 $ — $ — $ 502 $ 502 Fixed maturity securities, available-for-sale: Asset-backed securities — 2,068 38 2,106 2,106 Commercial mortgage-backed securities — 738 144 882 882 Corporates — 8,566 964 9,530 9,530 Hybrids — 1,214 — 1,214 1,214 Municipals — 1,569 39 1,608 1,608 Residential mortgage-backed securities — 2,162 — 2,162 2,162 U.S. Government 60 184 — 244 244 Equity securities available-for-sale 26 560 34 620 620 Derivative financial instruments — 82 — 82 82 Reinsurance related embedded derivative, included in other assets — 168 — 168 168 Other invested assets — 11 129 140 140 Total financial assets at fair value $ 588 $ 17,322 $ 1,348 $ 19,258 $ 19,258 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 2,149 $ 2,149 $ 2,149 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 5 — 5 5 Total financial liabilities at fair value $ — $ 5 $ 2,149 $ 2,154 $ 2,154 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 — 2 224 226 226 Total financial assets at fair value $ 751 $ 17,264 $ 1,292 $ 19,307 $ 19,307 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 1,908 $ 1,908 $ 1,908 Derivative instruments: futures contracts — 1 — 1 1 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 22 — 22 22 Total financial liabilities at fair value $ — $ 23 $ 1,908 $ 1,931 $ 1,931 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 Company has an equity investment in a private business development company which is not traded on an exchange or valued by other sources such as analytics or brokers. The Company based the fair value of this investment on an estimated net asset value provided by the investee. Management did not make any adjustments to this valuation. 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 September 30, 2015 and 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 call option assets 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 using market-observable inputs, including interest rates, yield curve volatilities, and other factors. Fair values for call option assets were determined externally by an independent consulting firm for reporting periods prior to September 30, 2015 and were determined internally using similar valuation pricing models as of September 30, 2015 .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) which represents what the Company would expect to receive or pay at the balance sheet date if it canceled the futures contract or entered into offsetting positions. 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 September 30, 2015 and 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. Investment Contracts Investment contracts include deferred annuities, FIAs, 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 September 30, 2015 and 2014 , this resulted in higher and lower , respectively, 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. Other Invested Assets Fair value of our loan participation interest securities approximates the unpaid principal balance of the participation interest as of September 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 September 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. As of September 30, 2015, substantially all of RSH assets in the estate have been converted to cash through liquidation and the fair value of the Company’s RSH-related holdings reflects these cash balances, net of estimated expenses. While substantially all assets represent cash, the wind down process continues; therefore, some variability still exists in the fair value related to these costs. 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 derivative and embedded derivatives is 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. This yield based approach was sourced from our third-party vendor. 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. Subsequently in October 2014, the Company transitioned this program to CorAmerica, a subsidiary of HRG, as an additional CML asset manager, and in April 2015 transferred the management and servicing responsibilities of all CMLs to CorAmerica. As part of this program, the Company has forty-nine funded and outstanding CMLs at September 30, 2015 . None of these loans are past due or have material credit issues. 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 CML's carrying value and related fair value. At September 30, 2015 , all forty-nine 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. Limited Partnership Investment (included in Other Invested Assets) Fair value of our limited partnership investment, a private equity fund, is based upon estimated net asset value information and is classified as Level 3. For further discussion about our limited partnership investment see “Note 4. Investments” to the Company's Consolidated Financial Statements. 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 September 30, 2015 and 2014 are as follows: Fair Value at Range (Weighted average) September 30, 2015 Valuation Technique Unobservable Input(s) September 30, 2015 Assets Asset-backed securities $ 10 Broker-quoted Offered quotes 100.37% - 107.84% Asset-backed securities (Salus CLO equity tranche) 28 Third-Party Valuation Offered quotes 41.80% Discount rate 15.00% Constant default rate 2.00% RSH recovery 30.00% Other loan recoveries 4.00% - 100.00% Commercial mortgage-backed securities 144 Broker-quoted Offered quotes 99.32% - 119.00% Corporates 898 Broker-quoted Offered quotes 56.75% - 113.83% Corporates 66 Matrix Pricing Quoted prices 104.58% - 142.43% Municipals 39 Broker-quoted Offered quotes 111.47% Equity securities available-for-sale 25 Net Asset Value Not applicable 100.00% 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 15.00% Salus CLO equity 41.80% Other invested assets: Available-for-sale embedded derivative 10 Black Scholes Model Market value of AnchorPath fund 100.00% Salus participations 104 Market Pricing Offered quotes 100.00% Salus participation - RSH Corporation 15 Liquidation value – 30% Recovery Estimate Recovery estimate (wind-down costs) 30% - 34% Total $ 1,348 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 2,149 Discounted Cash Flow Market value of option 0.00% - 33.83% SWAP rates 1.38% - 2.00% Mortality multiplier 80.00% - 80.00% Surrender rates 0.50% - 75.00% Non-performance spread 0.25% - 0.25% Total liabilities at fair value $ 2,149 Fair Value at Range (Weighted average) September 30, 2014 Valuation Technique Unobservable Input(s) September 30, 2014 Assets Asset-backed securities $ 74 Broker-quoted Offered quotes 95.45% - 109.26% Commercial mortgage-backed securities 83 Broker-quoted Offered quotes 105.25% - 121.00% Corporates 832 Broker-quoted Offered quotes 61.67% - 119.75% 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 Market 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% SWAP rates 1.93% - 2.64% Mortality multiplier 80.00% Surrender rates 0.50% - 75.00% 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 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 years ended September 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. Year ended September 30, 2015 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 $ 74 $ (37 ) $ 3 $ 73 $ (15 ) $ (31 ) $ (29 ) $ 38 Commercial mortgage-backed securities 83 — (2 ) 63 — — — 144 Corporates 834 4 10 202 (1 ) (61 ) (24 ) 964 Municipals 37 — 2 — — — — 39 Equity securities available-for-sale 40 (30 ) (1 ) 25 — — — 34 Other invested assets: Available-for-sale embedded derivative 11 (1 ) — — — — — 10 Salus participations 213 (39 ) (5 ) 88 — (138 ) — 119 Total assets at Level 3 fair value $ 1,292 $ (103 ) $ 7 $ 451 $ (16 ) $ (230 ) $ (53 ) $ 1,348 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,908 $ 241 $ — $ — $ — $ — $ — $ 2,149 Total liabilities at Level 3 fair value $ 1,908 $ 241 $ — $ — $ — $ — $ — $ 2,149 (a) The net transfers out of Level 3 during the year ended September 30, 2015 were exclusively to Level 2. Year ended September 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 $ 246 $ — $ (1 ) $ 36 $ — $ — $ (207 ) $ 74 Commercial mortgage-backed securities 6 — — 83 — — (6 ) 83 Corporates 461 — 19 382 (12 ) (2 ) (14 ) 834 Municipals — — 2 35 — — — 37 Equity securities available-for-sale — — 1 39 — — — 40 Other invested assets: Available-for-sale embedded derivative — — — 11 — — — 11 Salus participations, included in other invested assets 157 — (1 ) 187 — (130 ) — 213 Total assets at Level 3 fair value $ 870 $ — $ 20 $ 773 $ (12 ) $ (132 ) $ (227 ) $ 1,292 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,545 $ 363 $ — $ — $ — $ — $ — $ 1,908 Total liabilities at Level 3 fair value $ 1,545 $ 363 $ — $ — $ — $ — $ — $ 1,908 (a) The net transfers out of Level 3 during the year ended September 30, 2014 were exclusively to Level 2. Year ended September 30, 2013 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Included in Included in Assets Contingent Purchase Price (b) $ 41 $ — $ — $ — $ — $ — $ (41 ) $ — Fixed maturity securities available-for-sale: Asset-backed securities 16 — 2 247 (8 ) — (11 ) 246 Commercial mortgage-backed securities 5 — — 1 — — — 6 Corporates 135 — (13 ) 410 (10 ) (27 ) (34 ) 461 Hybrids 9 — — — — — (9 ) — Equity securities available-for-sale — — — 11 (11 ) — — — Salus preferred equity, included in related party loans (b) 32 — — 30 — — (62 ) — Salus participations, included in other invested assets — — — 157 — — — 157 Total assets at Level 3 fair value $ 238 $ — $ (11 ) $ 856 $ (29 ) $ (27 ) $ (157 ) $ 870 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,551 $ (6 ) $ — $ — $ — $ — $ — $ 1,545 Total liabilities at Level 3 fair value $ 1,551 $ (6 ) $ — $ — $ — $ — $ — $ 1,545 (a) The net transfers out of Level 3 during the year ended September 30, 2013 were exclusively to Level 2. (b) As discussed further in "Note 1. Basis of Presentation and Nature of Operations" and "Note 14. Related Party Transactions" to the Company’s Consolidated Financial Statements the related party investments and contingent purchase price reduction receivable were distributed to HRG and subsidiaries during the year ended September 30, 2013. Consequently this distribution is reflected as a transfer out of Level 3 The following tables provide the carrying value and estimated fair value of our financial instruments that are carried on the Consolidated Balance Sheet at amounts other than fair value, summarized according to the fair value hierarchy previously described. September 30, 2015 Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets Commercial mortgage loans $ — $ — $ 490 $ 490 $ 491 Policy loans, included in other invested assets — — 9 9 11 Limited partnership investment, included in other invested assets — — 4 4 4 Related party loans — — 78 78 78 Total $ — $ — $ 581 $ 581 $ 584 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 14,126 $ 14,126 $ 15,621 Debt — 312 — 312 300 Total $ — $ 312 $ 14,126 $ 14,438 $ 15,921 September 30, 2014 Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets Commercial mortgage loans $ — $ — $ 136 $ 136 $ 136 Policy loans, included in other invested assets — — 11 11 11 Related party loans — — 113 113 113 Total $ — $ — $ 260 $ 260 $ 260 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 13,109 $ 13,109 $ 14,556 Debt — 317 — 317 300 Total $ — $ 317 $ 13,109 $ 13,426 $ 14,856 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 year ended September 30, 2015 . There were no transfers between Level 1 into Level 2 for the year ended September 30, 2014 reflecting the level of market activity in these instruments. We transferred $79 U.S. Government securities from Level 1 into Level 2 for the year ended September 30, 2013 . Primary market issuance and secondary market activity for certain asset-backed, hybrid and corporate securities during the fiscal years ended September 30, 2015 , 2014 and 2013 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 September 30, 2015 , 2014 and 2013 . Accordingly, the Company’s assessment resulted in net transfers out of Level 3 of $53 related to asset-backed and corporate securities during the year ended September 30, 2015 . During the year ended September 30, 2014 , there were net transfers out of Level 3 of $227 related to asset-backed, commercial mortgage-backed and corporate securities. The Company’s assessment resulted in a net transfer out of Level 3 of $157 related to asset-backed, corporate and hybrid securities during the year ended September 30, 2013 .

Intangibles

Intangibles	12 Months Ended
	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	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 — 317 317 Less: Amortization related to: Unlocking 19 4 23 Interest 12 22 34 Amortization (68 ) (53 ) (121 ) Add: Adjustment for unrealized investment losses 165 55 220 Balance at September 30, 2015 $ 187 $ 801 $ 988 Accumulated amortization $ 391 VOBA DAC Total Balance at September 30, 2013 $ 192 $ 331 $ 523 Deferrals — 238 238 Less: Amortization related to: Unlocking 22 3 25 Interest 15 14 29 Amortization (87 ) (56 ) (143 ) Add: Adjustment for unrealized investment gains (83 ) (74 ) (157 ) Balance at September 30, 2014 $ 59 $ 456 $ 515 Accumulated amortization $ 354 VOBA DAC Total Balance at September 30, 2012 $ 104 $ 169 $ 273 Deferrals — 147 147 Less: Amortization related to: Unlocking 36 7 43 Interest 22 10 32 Amortization (195 ) (64 ) (259 ) VOBA and DAC adjustment to retained earnings (33 ) (7 ) (40 ) Add: Adjustment for unrealized investment losses 258 69 327 Balance at September 30, 2013 $ 192 $ 331 $ 523 Accumulated amortization $ 304 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 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 Consolidated Statements of Operations. As of September 30, 2015 and 2014 , the VOBA balance included cumulative adjustments for net unrealized investment losses (gains) of $1 and $(164) , respectively, and the DAC balances included cumulative adjustments for net unrealized investment (gains) of $(1) and $(56) , respectively. The above DAC balances include $59 and $33 of deferred sales inducements, net of shadow adjustments, as of September 30, 2015 and 2014 , respectively. The weighted average amortization period for VOBA is approximately 5.0 years . Estimated amortization expense for VOBA in future fiscal periods is as follows: Estimated Amortization Expense Fiscal Year VOBA 2016 $ 31 2017 28 2018 24 2019 19 2020 15 Thereafter 70

Debt

Debt	12 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]
Long Term Debt and Revolving Credit Facility	Debt In March 2013, FGL's wholly owned subsidiary, FGLH, issued $300 aggregate principal amount of its 6.375% senior notes (“Notes Offering”) due April 1, 2021, at par value, which FGLH may elect to redeem after April 1, 2016. Interest payments are due semi-annually, April 1 and October 1, commencing October 1, 2013. In connection with the Notes Offering, FGL capitalized $10 of debt issue costs. The fees are classified as “Other assets” in the accompanying Consolidated Balance Sheets and are being amortized over the redemption date using the straight-line method, which approximates the effective yield method over the remaining term of the debt. On August 26, 2014, 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 ("Credit Suisse"), acting as joint lead arrangers. The loan proceeds from the Credit Agreement may be used for working capital and general corporate purposes. FGL capitalized $4 of the debt issue cost, which are classified as “Other assets” in the accompanying Consolidated Balance Sheets and are being amortized using the straight-line method over the remaining term of the debt. As of September 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 September 30, 2015 , the interest rate would be equal to 5.25% had the Company drawn on the revolver. The Company's outstanding debt as of September 30, 2015 and 2014 is as follows: September 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 years ended September 30, 2015 , 2014 and 2013 , respectively, were as follows: Year ended September 30, 2015 2014 2013 Interest Expense Amortization Interest Expense Amortization Interest Expense Amortization Debt $ 19 $ 4 $ 19 $ 4 $ 10 $ 2 Revolving credit facility — 1 — — — —

Equity

Equity	12 Months Ended
	Sep. 30, 2014
Equity [Abstract]
Equity	Equity LLC Conversion On August 26, 2013, the Company converted from a Delaware limited liability company into a Delaware corporation and changed the Company’s name from Harbinger F&G LLC to Fidelity & Guaranty Life (the "LLC Conversion"). In connection with the LLC Conversion, HRG, the holder of all of the Company’s outstanding common units prior to the LLC Conversion, exchanged all of the interests that it held in the Company for 10,000 shares of the common stock of Fidelity & Guaranty Life. Stock Split On November 26, 2013, the Company’s board of directors increased the number of authorized shares of the Company’s common stock, par value $0.01 per share, from 100 thousand to 500,000 thousand and approved a stock split of the issued and outstanding shares of common stock at a ratio of 4,700 -for- 1 , resulting in 47,000 thousand shares outstanding. Net income per common share and the weighted average common shares used in computing net income per share for the years ended September 30, 2015 , 2014 and 2013 , included in the Company’s Consolidated Statements of Operations, have been adjusted to give effect to the stock split. Likewise, the amount of shares authorized, issued, and outstanding disclosed in the Company’s Consolidated Balance Sheets have also been adjusted. Initial Public Offering In December 2013, the Company issued 9,750 thousand shares of common stock as well as 58 thousand unrestricted shares to its directors in connection with its initial public offering ("IPO") and began trading on the New York Stock Exchange under the ticker symbol "FGL." FGL also granted the underwriters an option to purchase an additional 1,463 thousand shares of common stock that was subsequently exercised. On December 18, 2013, the Company received net proceeds from the IPO of $173 . A portion of the proceeds were used to pay a special dividend of $43 to HRG. Preferred Stock FGL's Board of Directors has the authority, without further action by our shareholders, to issue up to 50,000,000 shares of preferred stock in one or more series and to fix the designation, powers, preferences and the relative participating, optional or other special rights, and the qualifications, limitations and restrictions of each series, including dividend rights, dividend rates, conversion rights, voting rights, terms of redemption, liquidation preferences and the number of shares constituting any series. Currently, no shares of our authorized preferred stock are outstanding. Share Repurchases 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 was 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 September 30, 2015 . Dividends The Company declared the following cash dividends during the years ended September 30, 2015 and 2014 : Date Declared Date Paid Date Shareholders of record Shareholders of record (in thousands) Cash Dividend declared (per share) Total cash paid March 3, 2014 March 31, 2014 March 17, 2014 58,271 $0.065 $4 May 6, 2014 June 2, 2014 May 19, 2014 58,271 $0.065 $4 August 5, 2014 September 1, 2014 August 18, 2014 58,271 $0.065 $4 November 18, 2014 December 15, 2014 December 1, 2014 58,279 $0.065 $4 February 10, 2015 March 9, 2015 February 23, 2015 57,975 $0.065 $4 May 1, 2015 June 1, 2015 May 18, 2015 57,932 $0.065 $4 July 31, 2015 August 31, 2015 August 17, 2015 57,976 $0.065 $4 On November 12, 2015, FGL’s Board of Directors declared a quarterly cash dividend of $0.065 per share. The dividend will be paid on December 14, 2015 to shareholders of record as of the close of business on November 30, 2015. Restricted Net Assets of Subsidiaries FGLH’s equity in restricted net assets of consolidated subsidiaries was approximately $1,343 as of September 30, 2015 representing 92% of FGLH’s consolidated stockholder’s equity as of September 30, 2015 and consisted of net assets of FGLH which were restricted as to transfer to FGL in the form of cash dividends, loans or advances under regulatory restrictions.

Stock Compensation

Stock Compensation	12 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation	Stock Compensation On November 7, 2013, FGL’s Board of Directors adopted a long term stock-based incentive plan (the “FGL 2013 Stock Incentive Plan” or the “Omnibus Plan”) under which certain officers, employees, directors and consultants are eligible to receive equity based awards. The Omnibus Plan was approved by the stockholder on November 19, 2013, became effective on December 12, 2013 and expires in December 2023. FGL’s Compensation Committee approved the granting of awards under the Omnibus Plan to certain employees, officers and directors (other than the members of the Compensation Committee). In addition, FGL’s Board of Directors approved the granting of awards to members of FGL’s Compensation Committee (the “Compensation Committee Awards”). The Compensation Committee Awards were not made under the Omnibus Plan; however, these awards will be construed and administered as if subject to the terms of the Omnibus Plan. In February 2015, the Omnibus Plan was amended to permit the members of FGL’s Compensation Committee to receive awards thereunder. FGL’s Board of Directors and stockholder also approved the granting of unrestricted common shares to its directors in lieu of cash compensation at the election of each individual director (the “Unrestricted Share Awards”). The Omnibus Plan, Compensation Committee Awards and the Unrestricted Share Awards are collectively referred to as the “FGL Plans” and are accounted for as equity plans. As of the date the stock awards are approved and communicated to the recipient, the fair value of stock options is determined using a Black-Scholes options valuation methodology, and the fair value of other stock awards is based upon the market value of the stock. The fair value of the awards is expensed over the service period, which generally corresponds to the vesting period, and is recognized as an increase to Additional paid-in capital in stockholders’ equity. At this time, FGL plans to issue new shares to satisfy stock option exercises, but may use treasury shares acquired under the repurchase program authorized on September 2, 2014. Prior to November 7, 2013, FGL did not offer stock-based compensation plans to any of its directors, employees or the directors or employees of its subsidiaries. FGL’s principal subsidiary, FGLH, sponsors stock-based incentive plans and dividend equivalent plans (“DEPs”) for its employees (the “FGLH Plans”). Awards under the FGLH Plans are based on the value of the common stock of FGLH. In 2013, FGLH determined that all equity awards will be settled in cash when exercised and therefore are classified as liability plans. For these awards, the settlement value is classified as a liability, in "Other liabilities", on the Consolidated Balance Sheets and the liability is adjusted to the current fair value through net income at the end of each reporting period, which causes volatility in net income (loss) as a result of changes in the fair value of FGLH’s stock. Prior to 2013, the FGLH Plans were accounted for as equity plans. The fair value of stock options is determined using a Black-Scholes options valuation methodology and the fair value of restricted stock units is based upon the fair value of FGLH’s stock. In November 2013, the FGLH plans were frozen and no new awards will be granted under these plans. Outstanding awards will be permitted to vest in accordance with the award agreements and will be cash settled upon vesting or exercise. The Company recognized total stock compensation expense related to the FGL Plans and FGLH Plans as follows: Year ended September 30, 2015 2014 2013 FGL Plans Stock options $ 1 $ — $ — Restricted shares 6 1 — Performance restricted stock units 3 1 — Unrestricted shares — 1 — 10 3 — FGLH Plans Stock Incentive Plan - stock options 1 6 3 2011 DEP — 1 1 Amended and Restated Stock Incentive Plan - stock options 5 5 1 Amended and Restated Stock Incentive Plan - restricted stock units 2 2 1 2012 DEP 1 — — 9 14 6 Total stock compensation expense 19 17 6 Related tax benefit 7 6 2 Net stock compensation expense $ 12 $ 11 $ 4 The stock compensation expense is included in "Acquisition and operating expenses, net of deferrals" in the Consolidated Statements of Operations . Total compensation expense related to the FGL Plans and FGLH Plans not yet recognized as of September 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 — N/A 2011 DEP — N/A Amended and Restated Stock Incentive Plan - stock options — 0 Amended and Restated Stock Incentive Plan - restricted stock units — 0 2012 DEP — 1 — Total unrecognized stock compensation expense $ 11 1 FGL Plans FGL’s Compensation Committee is authorized to grant up to 2,838 thousand equity awards under the FGL Plans. At September 30, 2015 , 1,336 thousand equity awards are available for future issuance under the FGL Plans. FGL granted 206 thousand and 249 thousand stock options to certain officers, directors, other key employees and Compensation Committee members in 2015 and 2014, respectively. 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 options granted in 2015 and 2014 was $1 and $1 , respectively. 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 September 30, 2015 , the intrinsic value of stock options outstanding, exercisable and vested or expected to vest was $1 , $0 and $1 , respectively. At September 30, 2015 , the weighted average remaining contractual term of stock options outstanding, exercisable and vested or expected to vest was 4 years , 2 years and 4 years , respectively. During the year ended September 30, 2015 , the intrinsic value of stock options exercised, total cash received upon exercise and the related tax benefit realized was $1 , $2 , and $0 , respectively. During the years ended September 30, 2014 and 2013 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 September 30, 2015 , and related activity during the period, is as follows (share 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 (113 ) 17.00 Forfeited or expired (18 ) 20.73 Stock options outstanding at September 30, 2015 317 21.60 Exercisable at September 30, 2015 111 22.04 Vested or projected to vest at September 30, 2015 310 21.58 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: 2015 2014 Weighted average fair value per options granted $4.96 $3.76 Risk-free interest rate 1.41%-1.50% 1.40%-1.41% Assumed dividend yield 1.18%-1.19% 1.30%-1.50% Expected option term 4.5 years 4.5 years Volatility 25% 25% 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% The dividend yield is based on the expected dividend rate during the expected life of the option. Expected volatility is based on the historical volatility of FGL’s stock price for awards granted or modified in 2015 and the implied volatility of exchange-traded securities for life insurance companies for awards granted in 2014. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected life of the options granted represents the weighted-average period of time from the grant date to the date of exercise, expiration or cancellation based upon a simplified method as the Company lacks sufficient historical data due to the recent implementation of the FGL Plans. FGL granted 173 thousand and 171 thousand restricted shares to certain officers, directors, other key employees and Compensation Committee members in 2015 and 2014, respectively. These shares vest in equal installments over a period of three years . FGL granted 12 thousand restricted shares to an officer in 2015 that vest over the period of one year and granted 8 thousand restricted shares in 2014 to another officer that vest in equal installments over the period of two years. In 2015, FGL also granted 140 thousand restricted shares to certain directors which 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 in 2015 and 2014 was $7 and $3 , respectively. On March 18, 2015, the expected requisite service periods for the 140 thousand restricted shares granted to certain directors 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. The restricted shares are entitled to any cash dividends paid on FGL’s stock prior to vesting of the restricted shares. The cash dividends are held by FGL until the shares become vested and are paid to the recipient at that time or are forfeited if the restricted shares do not vest. A summary of FGL’s nonvested restricted shares outstanding as of September 30, 2015 , and related activity during the year 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 23.66 Vested (231 ) 21.60 Forfeited or expired (20 ) 21.67 Nonvested restricted shares outstanding at September 30, 2015 246 21.92 FGL also granted 32 thousand and 541 thousand performance restricted stock units (“PRSUs”) to senior executive officers under the Omnibus Plan in 2015 and 2014, respectively. 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) pre-tax 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 for the awards granted in 2015. One-third of the award is earned based on each year's results for the awards granted in 2014. Based on the results achieved in 2015, a total of 14 thousand additional PRSUs were earned subject to the satisfaction of the service requirement noted above. Based on the results achieved for 2014, a total of 44 thousand additional PRSUs have been earned subject to the satisfaction of the service requirement noted above. The total fair value of the PRSUs granted in 2015 and 2014 assuming attainment of the target performance level in each year was $ 1 and $9 , respectively. The total fair value of the additional PRSUs earned in 2015 and 2014 was $0 and $1 , respectively. A summary of nonvested PRSUs outstanding as of September 30, 2015 , and related activity during the year 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 22 additional units based on 2014 and 2015 financial performance 54 19.68 Vested (45 ) 17.00 Forfeited (72 ) 17.00 Nonvested PRSUs outstanding at September 30, 2015 515 17.69 Additionally, FGL granted unrestricted shares totaling 9 thousand and 58 thousand in 2015 and 2014, respectively to certain directors in payment for services rendered. Total fair value of the unrestricted shares on the grant date was $0 and $1 , respectively. FGLH Plans Stock options issued under the FGLH Plans vest in three equal installments on each of the first three anniversaries of the grant date and expire on the seventh anniversary of the grant date. The FGLH plans were frozen in November 2013 and, therefore, no stock options were issued under these plans during the years ended September 30, 2015 and 2014. During the year ended September 30, 2013, FGLH issued 195 thousand stock options which had a weighted average grant date fair value per option of $3.85 . The following assumptions were used in the determination of the grant date fair value using the Black-Scholes option pricing model and based on the value of FGLH's common stock: 2013 Risk-free interest rate 0.8% Assumed dividend yield 6.0% Expected option term 4.5 years Volatility 27.0% The dividend yield is based on the expected dividend rate during the expected life of the option. Expected volatility is based on the implied volatility of exchange-traded securities for life insurance companies. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected life of the options granted represents the weighted-average period of time from the grant date to the date of exercise, expiration or cancellation based upon a simplified method as the Company lacked sufficient historical data due to the recent implementation of the FGLH Plans. A summary of FGLH's outstanding stock options as of September 30, 2015 and related activity during the year then ended is as follows (share amount in thousands): FGLH Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2014 225 $ 46.19 Granted — — Exercised (137 ) 46.89 Forfeited or expired (1 ) 49.45 Stock options outstanding at September 30, 2015 87 45.04 Exercisable at September 30, 2015 61 43.11 Vested or projected to vest at September 30, 2015 86 45.01 At September 30, 2015, the liability for vested or expected to vest stock options was based on the fair values of the outstanding options. The following assumptions were used in the determination of these fair values using the Black-Scholes option pricing model and based on the value of FGLH's common stock: 2015 2014 Weighted average stock option fair value $74.99 $50.63 FGLH common stock fair value $122.02 $98.28 FGL common stock value $24.54 $21.35 Risk-free interest rate 0.48%-0.74% 0.65%-1.02% Assumed dividend yield 1.16% 1.20% Expected option term 1.50 - 2.25 years 2.00-2.75 years Volatility 25.0% 25.0% The primary input used in the determination of the fair value of FGLH's common stock is the value of the Company's common stock. The dividend yield is based on the expected dividend rate during the expected life of the option. Expected volatility is based on the historical volatility of FGL's stock price. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at September 30, 2015 . The expected life of the options granted represents the weighted-average period of time from the grant date to the date of exercise, expiration or cancellation based upon historical data. At September 30, 2015 , the intrinsic value of stock options outstanding, exercisable and vested or expected to vest was $7 , $5 and $7 , respectively. At September 30, 2015 , the weighted average remaining contractual term of stock options outstanding, exercisable and vested or expected to vest was 4 years , 4 years and 4 years , respectively. The intrinsic value of stock options exercised and the amount of cash paid upon exercise during the years ended September 30, 2015 , 2014 , and 2013 was $9 , $6 , and $1 , respectively. Restricted stock units issued under the FGLH Plans vest in three equal installments on each of the first three anniversaries of the grant date. During the years ended September 30, 2015 , 2014 , and 2013 , FGLH issued 0 thousand , 0 thousand , and 53 thousand restricted stock units which had a weighted average grant date fair value per unit of $0 , $0 , and $49.58 , respectively. A summary of FGLH's nonvested restricted stock units as of September 30, 2015 and related activity during the year 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 September 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 amount of cash paid upon vesting of restricted stock units during the years ended September 30, 2015 , 2014 , and 2013 was $2 , $2 , and $0 , respectively. FGLH also granted dividend equivalent awards that permit holders of FGLH’s stock option and restricted stock awards to receive a payment in cash in an amount equal to the ordinary dividends declared and paid or debt service payments to HRG by FGLH in each calendar year starting in the year in which the dividend equivalent is granted through the year immediately prior to the year in which the dividend equivalent award vests, divided by the total number of common shares outstanding. Dividend equivalent awards granted in November 2011 vested on March 31, 2014. Dividend equivalent awards granted in December 2012 vest on March 31, 2016. FGLH determined that it was probable the dividend equivalent awards will vest and is recognizing compensation expense ratably over the dividend equivalent vesting periods. The amount of cash paid upon vesting of dividend equivalent awards during the years ended September 30, 2015 , 2014 , and 2013 was $1 , $3 and $0 , respectively.

Income Taxes

Income Taxes	12 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On August 26, 2013, FGL converted to a corporation from a limited liability company, and remained wholly owned by HRG until December 13, 2013. Prior to August 26, 2013, for income tax purposes, FGL and its non-life insurance subsidiaries (exclusive of FGLH’s non-life subsidiaries) (collectively “FGNL”) were disregarded entities and taxed as if they were part of HRG. As a result, income tax expense or benefit resulting from their operations was not recorded in the Company’s financial statements. If FGNL were a separate taxable entity, its income tax expense would be computed on a standalone basis in accordance with ASC Topic 740 and, on a pro forma basis, would have been $2 for the period ended August 26, 2013. Subsequent to August 26, 2013, the date FGL converted to a recognized corporation, FGL became a separate taxable entity. Therefore, its income tax expense has been computed on a stand-alone basis in accordance with ASC Topic 740 and has been recorded in the Company's financial statements. Beginning with the tax year ended December 31, 2012 , FSRCI made an election under Section 953(d) of the Internal Revenue Code (“IRC”) to be treated as a U.S. domestic life insurance corporation for tax purposes. FSRCI qualifies as a life insurance company under the IRC and, consequently, will file standalone U.S. Federal income tax returns for its first five taxable years, after which it will be eligible to consolidate with its non-life insurance parent company. Consolidated income tax expense for the year ended September 30, 2013 , includes the standalone income tax expense for FSRCI for the period October 1, 2012 through August 9, 2013, when it was owned within the FGL group. The net operating losses ("NOLs"), capital losses and tax credits of FGL’s subsidiaries were subject to limitation under IRC Section 382, as a result of the change of ownership that occurred when the companies were purchased in 2011. This caused the net value of attributes that could be utilized to be limited to $5 each year, subject to increases for realized built-in gains on certain assets on the date of the change of ownership. On September 27, 2013, the Company underwent a second change of control within the meaning of IRC Section 382(g), triggered by the sale of HRG shares by Harbinger Capital Partners. At the time of this ownership change, FGL’s tax attributes consisted of capital loss carry forwards totaling approximately $350 , investment tax credits of approximately $54 , and alternative minimum tax ("AMT") credits of approximately $6 . The second 382 annual limitation is higher than the 2011 limitation and is not expected to have an impact on the utilization of tax attributes. Income tax (expense) benefit was calculated based upon the following components of income before income taxes: Year ended September 30, 2015 2014 2013 Pretax income (loss): United States $ 182 $ 189 $ 509 Outside the United States — — (1 ) Total pretax income $ 182 $ 189 $ 508 The components of income tax (expense) benefit were as follows: Year ended September 30, 2015 2014 2013 Current: Federal $ (14 ) $ (51 ) $ 27 State — — — Total current $ (14 ) $ (51 ) $ 27 Deferred: Federal $ (50 ) $ 25 $ (187 ) State — — — Total deferred $ (50 ) $ 25 $ (187 ) Income tax (expense)/benefit $ (64 ) $ (26 ) $ (160 ) The difference between income taxes expected at the U.S. Federal statutory income tax rate of 35% and reported income tax (expense) benefit is summarized as follows: Year ended September 30, 2015 2014 2013 Expected income tax (expense)/benefit at Federal statutory rate $ (64 ) $ (66 ) $ (178 ) Tax effect of disregarded entities — — 2 Valuation allowance for deferred tax assets (1 ) 40 19 Amortization of low income housing tax credits (1 ) — — Benefit on LIHTC under proportional amortization method 1 — — Other 1 — (3 ) Reported income tax (expense)/benefit $ (64 ) $ (26 ) $ (160 ) Effective tax rate 35 % 14 % 31 % For the year ended September 30, 2015 , the Company’s effective tax rate was 35% . The impact of valuation allowance expense was offset by the net impact of positive permanent adjustments. For the year ended September 30, 2014 , the Company’s effective tax rate of 14% was positively impacted by the partial release of valuation allowance attributed to the Company’s implementation of a tax planning strategy that allowed for the utilization of capital loss carry forwards that management originally concluded were more-likely-than-not unrealizable. For the year ended September 30, 2013 , the Company’s effective tax rate of 31% , was positively impacted by the partial release of valuation allowance attributed to the Company’s utilization of capital loss carry forwards that management previously concluded were more-likely-than-not unrealizable. For the year ended September 30, 2015 , the Company recorded net valuation allowance expense of $1 (comprised of a full year valuation allowance release of $4 related to the life insurance companies, offset by a net increase to valuation allowance of $5 related to FGL’s non-life companies). For the years ended September 30, 2014 and 2013 , the Company recorded net valuation allowance releases of $40 (comprised of a full year valuation allowance release of $43 related to the life insurance companies, partially offset by a net increase to valuation allowance of $3 related to FGL’s non-life companies), and $19 (comprised of a full year valuation allowance release of $21 related to the life insurance companies, partially offset by a net increase to valuation allowance of $2 related to FGL’s non−life companies). An excess tax benefit is the realized tax benefit related to the amount of deductible compensation cost reported on an employer’s tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Excess tax benefits are required to be recorded as additional paid-in capital when realized. For the fiscal year ended September 30, 2015 , the Company recognized less than $1 in excess tax benefits which have been recorded as an adjustment to APIC. The excess tax benefits are reflected in the Company’s total tax expense for the fiscal year ended September 30, 2015 . The following table is a summary of the components of deferred income tax assets and liabilities: Year ended September 30, 2015 2014 Deferred tax assets: Net operating loss, credit and capital loss carryforwards $ 169 $ 184 Insurance reserves and claim related adjustments 424 454 Investments 24 — Other 32 43 Valuation allowance (120 ) (119 ) Total deferred tax assets $ 529 $ 562 Deferred tax liabilities: Value of business acquired $ (65 ) $ (21 ) Investments — (310 ) Deferred acquisition costs (209 ) (90 ) Other (27 ) (4 ) Total deferred tax liabilities $ (301 ) $ (425 ) Net deferred tax assets and liabilities $ 228 $ 137 At September 30, 2015 , the Company’s valuation allowance of $120 consisted of a valuation allowance of $74 on life company capital loss carryforwards and a full valuation allowance of $46 on FGL’s non−life insurance net deferred taxes. At September 30, 2014 , the Company’s valuation allowance of $119 consisted of a valuation allowance of $78 on life company capital loss carryforwards and a full valuation allowance of $41 on FGL’s non−life insurance net deferred taxes. The Company maintains a valuation allowance against certain IRC Section 382 limited capital loss carry forwards and the deferred tax assets of its non-life insurance company subsidiaries. A valuation allowance has been recorded against capital loss carryforwards limited under IRC Section 382 to reduce the associated deferred tax assets to an amount that is more-likely than not realizable. 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. During the fiscal year ended September 30, 2014 , market conditions changed sufficiently that the Company determined it was prudent and feasible to adopt a tax planning strategy that involved repositioning a portion of the investment portfolio to trigger $100 in net unrealized built-in gains (“NUBIG”). The sale of these assets resulted 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 offset NUBIG-related gains. This strategy made it more likely than not that the amount of capital loss carryforwards needed to offset those gains would 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. As of September 30, 2015 , the entire $100 of NUBIG had been recognized locking in the full $35 in tax benefits. As of September 30, 2015, the Company has not adopted any new tax planning strategies towards the recognition of NUBIG. The Company currently has capital loss carry forwards of $211 that are set to expire December 31, 2015. A full valuation allowance has been set against those deferred tax assets. Key considerations in the Company’s decision supporting adoption of the now completed tax planning strategy during the fiscal year ended September 30, 2014 included wider spreads in specific credit markets, increased range of executable reinvestment opportunities, and an enhanced focus on managing and increasing the Company’s Statutory Interest Maintenance Reserve (“IMR”) balance and capital position providing increased flexibility in volatile interest rate and credit spread markets. At September 30, 2015 and 2014 , FGL has NOL carryforwards of $92 and $93 , respectively, which, if unused, will expire in years 2026 through 2035. FGL has capital loss carryforwards totaling $217 and $259 at September 30, 2015 and 2014 , respectively, which if unused, will expire in years 2015 through 2020. In addition, at both September 30, 2015 and 2014 , FGL has low income housing tax credit carryforwards totaling $54 and $54 , respectively, which, if unused, will expire in years 2017 through 2035, and alternative minimum tax credits of $6 and $6 , respectively, that may be carried forward indefinitely. FGL’s non-life subsidiaries file as part of HRG’s consolidated U.S. Federal income tax return. FGL’s insurance company subsidiaries file their own consolidated U.S. Federal life insurance tax return and are not eligible to join the consolidated HRG return until January 1, 2017. The income tax liabilities of the FGL members of the consolidated HRG return are calculated using the separate return method with any payable or receivable reflecting an amount they would have recorded had they filed their own return. As of September 30, 2015 and 2014 , FGL and its subsidiaries have intercompany taxes payable due to HRG totaling $1 and $2 , respectively for the use of consolidated tax attributes. The U.S. Federal income tax returns of FGL for years prior to 2012 are no longer subject to examination by the taxing authorities. With limited exception, FGL is no longer subject to state and local income tax audits for years prior to 2011. FGL does not have any unrecognized tax benefits (“UTBs”) at September 30, 2015 and 2014 . In the event the Company has UTBs, interest and penalties related to uncertain tax positions would be recorded as part of income tax expense in the financial statements. The Company regularly assesses the likelihood of additional tax assessments by jurisdiction and, if necessary, adjusts its tax reserves based on new information or developments.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company has unfunded investment commitments as of September 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 September 30, 2015 Other invested assets $ 108 Commercial mortgage loans 27 Fixed maturity securities, available-for-sale 20 Other assets 16 Related party loans 5 Total $ 176 Lease Commitments The Company leases office space under non-cancelable operating leases that expire in May 2021. The Company also leased office furniture and office equipment under non-cancelable operating leases that expired in 2012. For the years ended September 30, 2015 , 2014 and 2013 , the Company’s total rent expense was $2 , $2 and $2 , respectively. As of September 30, 2015 , the minimum rental commitments under the non-cancelable leases are as follows: Fiscal Year Amount 2016 $ 2 2017 2 2018 2 2019 2 2020 2 Thereafter 1 Total $ 11 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 September 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. During Fiscal 2012, the Company incurred an $11 benefit expense, net of reinsurance, to increase reserves to cover potential benefits payable resulting from this ongoing effort. Based on its analysis to date, and management’s estimate, the Company believes the remaining accrual will cover the reasonably estimated liability arising out of these developments. 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 September 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. On July 18, 2011, a putative class action Complaint was filed in the United States District Court for the Central District of California, captioned Eddie L. Cressy v. OM Financial Life Insurance Company . The Plaintiff asked the Court to certify the action as a class action on behalf of both a nationwide and a California class defined as certain persons who were sold OM Financial Life Insurance equity-indexed universal life insurance policies. The Plaintiff alleged, inter alia, that the Plaintiff and members of the putative class relied on defendants’ advice to purchase unsuitable insurance policies. After extensive motion practice, the federal court dismissed the federal causes of action, with prejudice, and, on May 9, 2013, declined to exercise supplemental jurisdiction over the state law claims, dismissed the state law claims, without prejudice, and granted the Plaintiff leave to re-file the state law claims in California state court. On July 5, 2013, the Plaintiff filed a putative class action captioned Eddie L. Cressy v. Fidelity Guaranty [sic] Life Insurance Company, et. al. in the Superior Court of California, County of Los Angeles (the "Court"), 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. The Plaintiff sought to certify a class defined as “all persons who reside or are located in the state of California who were sold OM Financial/FGL Insurance equity-indexed universal life insurance policies as an investment.” 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. On August 10, 2015, the Company tendered $1 to the Settlement Administrator for a claim review fund. The Company will implement an interest enhancement for certain policies as part of the class settlement, which began on October 12, 2015. At September 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 established a liability for the unpaid portion of the estimate of $2 . The Company has incurred and paid $4 related to legal fees and other costs and $3 related to settlement costs as of September 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 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 are presented in the 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 resolved 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. HRG Group Inc., Fidelity & Guaranty Life Insurance Company, Raven Reinsurance Company, and Front Street Re (Cayman) Ltd. 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. The parties are currently engaging in document discovery. As of September 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 September 30, 2015 . 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 future periods. Guarantees The F&G Stock Purchase Agreement between HFG and OMGUK included a Guarantee and Pledge Agreement, which created a security interest in the equity of FGLH and FGLH’s equity interest in FGL Insurance for the benefit of OMGUK in the event that FGL failed to perform certain obligations under the F&G Stock Purchase Agreement. In the third quarter of 2015, in connection with the settlement of the litigation amongst the Company, HRG and OMGUK, the Guarantee and Pledge Agreement was terminated and the Company was released from its obligations thereunder.

Reinsurance

Reinsurance	12 Months Ended
	Sep. 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 years ended September 30, 2015 , 2014 and 2013 were as follows: Year ended September 30, 2015 2014 2013 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 260 $ 833 $ 267 $ 1,103 $ 279 $ 777 Assumed — — 36 28 33 23 Ceded (202 ) (255 ) (247 ) (343 ) (253 ) (267 ) Net $ 58 $ 578 $ 56 $ 788 $ 59 $ 533 Amounts payable or recoverable for reinsurance on paid and unpaid claims are not subject to periodic or maximum limits. During the years ended September 30, 2015 , 2014 and 2013 , the Company did not write off any reinsurance balances. During the year ended September 30, 2015 , the Company did not commute any ceded reinsurance. Effective June 17, 2013, the Company rescinded the portion of the coinsurance agreement dated April 1, 2011 between FGL Insurance and Wilton Re which covered certain disability income riders. Wilton Re paid FGL Insurance a rescission settlement of $6 . FGL Insurance recognized a net gain on the rescission of $2 . 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. 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. Wilton Agreement In September 2012, Wilton Re and FGL Insurance reached a final agreement on the initial settlements associated with the reinsurance transactions FGL Insurance entered into subsequent to the FGL Acquisition. The final settlement amounts did not result in any material adjustments to the amounts reflected in the financial statements. FGL Insurance recognized a net pre-tax gain of $18 on these reinsurance transactions which has been deferred and is being amortized over the remaining life of the underlying reinsured contracts. The unamortized portion of this deferred gain was $11 and $14 as of September 30, 2015 and 2014 , respectively. Commissioners Annuity Reserve Valuation Method Facility (“CARVM”) Effective October 1, 2012, FGL Insurance recaptured the CARVM reinsurance agreement from OM Re and simultaneously ceded the business to Raven Reinsurance Company ("Raven Re"), its wholly-owned captive reinsurance company. The recapture of the OM Re CARVM reinsurance agreement satisfies the Company’s obligation under the F&G Stock Purchase Agreement to replace the letter of credit provided by OM no later than December 31, 2015. In connection with the new CARVM reinsurance agreement, FGL Insurance and Raven Re entered into an agreement with Nomura Bank International plc (“NBI”) to establish a $295 reserve financing facility in the form of a letter of credit issued by NBI and NBI charged an upfront structuring fee in the amount of $3 . The reserve financing facility is set to be reduced by $6 each quarter subsequent to establishment. The structuring fee was paid by FGL Insurance and will be deferred and amortized over the expected life of the facility. As this letter of credit is provided by an unaffiliated financial institution, Raven Re is permitted to carry the letter of credit as an admitted asset on the Raven Re statutory balance sheet. As of September 30, 2015 , there was $226 available under the letter of credit facility. The Nomura Facility will terminate on September 30, 2017, although the facility may terminate earlier, in accordance with the terms of the Reimbursement Agreement. Under the terms of the Reimbursement Agreement, in the event the letter of credit is drawn upon, Raven Re is required to repay the amounts utilized, and FGLH is obligated to repay the amounts utilized if Raven Re fails to make the required reimbursement. FGLH also is required to make capital contributions to Raven Re in the event that Raven Re’s statutory capital and surplus falls below certain defined levels. As of December 31, 2014, Raven Re’s statutory capital and surplus was $22 in excess of the minimum level required under the Reimbursement Agreement.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As discussed in "Note 1. Basis of Presentation and Nature of Operations" to the Company’s Consolidated Financial Statements , on August 9, 2013, the Company distributed its ownership interests in its wholly-owned subsidiaries, HGI Real Estate, LLC and FS Holdco, to HRG. HGI Real Estate LLC had no net assets as of the distribution date. The carrying value of FS Holdco’s net assets as of the distribution date was $129 and comprised of the following: Total assets $ 1,646 Total liabilities 1,517 Total net assets $ 129 The Company accounted for the distribution of these businesses as a dividend. Of total net assets transferred, $47 is cash and cash equivalents and is reflected in the line item Distributions to HRG and subsidiaries in the Consolidated Statements of Cash Flows. The remainder of the net assets transferred to HRG of $82 are non-cash financing activities. Additionally, on August 23, 2013, the Company also distributed and assigned to HRG all of its rights in the interests, liabilities and obligations under its litigation against OMGUK related to claimed $50 purchase price adjustment in connection with the FGLH Acquisition. This resulted in a $41 non-cash dividend to HRG related to the assignment of contingent purchase price reduction receivable. FSRCI Effective December 31, 2012, FGL Insurance entered into a reinsurance treaty with FSRCI, an indirect wholly-owned subsidiary of HRG, FGL’s parent, whereby FGL Insurance ceded 10% of its June 30, 2012 in-force annuity block business not already reinsured on a funds withheld basis. 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. Under the terms of the agreement, no initial ceding commission was paid as all of the underlying business is new business. The September 17, 2014 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. At September 30, 2015 and 2014 , the Company's reinsurance recoverable included $1,227 and $1,267 , respectively, related to FSRCI and funds withheld for reinsurance liabilities included $1,258 and $1,293 , respectively, related to FSRCI. Below are the ceded operating results to FSRCI’s for the year ended September 30, 2015 , September 30, 2014 and the period of August 9, 2013 to September 30, 2013: Revenues: Year ended September 30, 2015 Year ended September 30, 2014 August 9, 2013 to September 30, 2013 Premiums $ 1 $ 1 $ — Net investment income 63 64 7 Net investment (losses) gains (30 ) 25 (1 ) Insurance and investment product fees 4 5 1 Total revenues 38 95 7 Benefits and expenses: Benefits and other changes in policy reserves (42 ) (60 ) (1 ) Acquisition & operating expenses, net of deferrals (4 ) (6 ) — Total benefits and expenses (46 ) (66 ) (1 ) Operating (loss) income $ (8 ) $ 29 $ 6 FGL Insurance invested in CLO securities issued by Fortress Credit Opportunities III CLO LP ("FCO III") and also invested in securities issued by Fortress Credit BSL Limited ("Fortress BSL"). The parent of both FCO III and Fortress BSL is Fortress Investment Group LLC, which acquired interests greater than 10% ownership in HRG as of September 30, 2014. During the year ended September 30, 2014, Leucadia National Corp's ("Leucadia") ownership interest in HRG's outstanding shares exceeded 10%. Jefferies Group Inc. ("Jefferies") is a wholly owned subsidiary of Leucadia. Additionally, during the year Frederick's of Hollywood became a wholly owned subsidiary of HRG. During the September 2014 quarter, we sold our debt securities in our affiliates, Leucadia, Jefferies, and Frederick's of Hollywood, recognizing gains of $2 , $6 and $0 , respectively, for the year ended September 30, 2014. 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 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 carrying value of these investments in Salus as of September 30, 2015 and 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 $3 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. Derivative and Financial Instruments" 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 were executed during the second fiscal quarter 2015. On August 26, 2015, FGL entered into an Engagement Letter with Credit Suisse pursuant to which Credit Suisse agreed (on a non-exclusive basis) to provide financial advisory services to FGL in connection with a transaction involving a merger or other similar transaction with respect to at least a majority of the capital stock of FGL. HRG, the holder of a majority of shares of outstanding common stock of FGL, is also a party to the Engagement Letter. Under the Engagement Letter, HRG is required to reimburse FGL for compensation paid by FGL to Credit Suisse under certain circumstances. Specifically, if compensation to Credit Suisse becomes payable in respect of a transaction that involves a disposition of shares of FGL held by HRG (and not other stockholders of FGL), HRG will reimburse FGL for the full amount of such compensation. If compensation to Credit Suisse becomes payable in respect of a transaction that involves a disposition of shares of FGL held by HRG and a disposition of not more than 50% of the shares of FGL held by stockholders of FGL other than HRG, HRG will reimburse FGL for its pro rata portion of such compensation (based on its relative number of shares compared to those held by stockholders of FGL other than HRG). On October 7, 2015, FGL, a subsidiary of HRG, entered into an Engagement Letter with Jefferies pursuant to which Jefferies agreed (on a non-exclusive basis) to provide financial advisory services to FGL in connection with a transaction involving a merger or other similar transaction with respect to at least a majority of the capital stock of FGL. HRG is also a party to the Engagement Letter. Under the Engagement Letter, Jefferies is entitled to receive a fee which represents a percentage of the value of the transaction, plus reimbursement for all reasonable out-of-pocket expenses incurred by Jefferies in connection with their engagement. FGL has also agreed to indemnify Jefferies for certain liabilities in connection with their engagement. HRG is required to reimburse FGL for compensation paid by FGL to Jefferies under certain circumstances. Specifically, if compensation to Jefferies becomes payable in respect of a transaction that involves a disposition of shares of FGL held by HRG (and not other stockholders of FGL), HRG will reimburse FGL for the full amount of such compensation. If compensation to Jefferies becomes payable in respect of a transaction that involves a disposition of shares of FGL held by HRG and a disposition of not more than 50% of the shares of FGL held by stockholders of FGL other than HRG, HRG will reimburse FGL for its pro rata portion of such compensation (based on its relative number of shares compared to those held by stockholders of FGL other than HRG). The Company’s consolidated related party investments as of September 30, 2015 and 2014 , and related net investment income for the years ended September 30, 2015 , 2014 , and 2013 are summarized as follows: September 30, 2015 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available for sale $ 245 $ — $ 245 Fortress Investment Group CLOs Fixed maturities, available for sale 181 2 183 Salus preferred equity (a) Equity securities, available for sale 3 — 3 Salus participations (b) Other invested assets 110 1 111 Energy & Infrastructure Capital ("EIC") participations Other invested assets 9 — 9 Foreign exchange derivatives and embedded derivatives Other invested assets 11 — 11 HGI energy loan (c) Related party loans 70 1 71 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 17 different borrowers with an average loan fair value of $6 as of September 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. Year ended September 30, 2015 2014 2013 Type Investment Income Classification Net investment income Net investment income Net investment income Salus CLOs Fixed maturities $ 11 $ 13 $ 5 Fortress Investment Group CLOs Fixed maturities 8 2 — Leucadia National Corporation Fixed maturities — 1 — Jefferies Group Inc. Fixed maturities — 1 — Salus preferred equity Equity securities — 2 2 Salus participations Other invested assets 15 19 7 HGI energy loan Related party loans 5 6 4 Salus 2012 participations Related party loans — 1 4 Salus promissory note Related party loans 1 1 1 Salus revolver Related party loans — 1 — The Company had realized foreign exchange losses of $4 and $1 for the years ended September 30, 2015 and 2014 , respectively, related to its CAD denominated loan participations originated by Salus. Additionally, the Company had foreign exchange derivative and embedded derivative gains of $9 and $2 for the years ended September 30, 2015 and 2014 , respectively, included in other invested assets. See "Note 5. Derivative Financial Instruments" 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 OTTI losses of $46 on available-for-sale fixed maturity securities and $36 on other invested assets for the year ended September 30, 2015 , respectively. These realized OTTI losses 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. The Company has investment management agreements with Salus, CorAmerica Capital, LLC, and Energy & Infrastructure Capital, LLC, all wholly-owned subsidiaries of HGI Asset Management Holdings, LLC, which is also a wholly owned subsidiary of HRG. The Company pays management fees to these entities for the services provided under these agreements which are usual and customary for these types of services. The F&G Stock Purchase Agreement included a Guarantee and Pledge Agreement, which created a security interest in the equity of FGLH and FGLH’s equity interest in FGL Insurance for the benefit of OMGUK in the event that FGL failed to perform certain obligations under the F&G Stock Purchase Agreement. In the third quarter of 2015, in connection with the settlement of the litigation amongst the Company, HRG and OMGUK, the Guarantee and Pledge Agreement was terminated, and the Company was released from its obligations thereunder.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Sep. 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): Year ended September 30, 2015 2014 2013 Net income attributable to common shares - basic $ 118 $ 163 $ 348 Weighted-average common shares outstanding - basic 58,118 55,970 47,000 Dilutive effect of unvested restricted stock and unvested performance restricted stock 208 31 — Dilutive effect of stock options 35 10 — Weighted-average shares outstanding - diluted 58,361 56,011 47,000 Net income per common share: Basic $ 2.03 $ 2.91 $ 7.40 Diluted $ 2.02 $ 2.90 $ 7.40 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 years ended September 30, 2015 and 2014 excludes the incremental effect related to certain outstanding stock options and restricted shares due to their anti-dilutive effect. The number of weighted average equivalent shares excluded in 2015 and 2014 are 17 thousand shares and less than one thousand shares, respectively. 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	12 Months Ended
	Sep. 30, 2015
Insurance [Abstract]
Insurance Subsidiary Financial Information and Regulatory Matters	Insurance Subsidiary Financial Information and Regulatory Matters The Company’s insurance subsidiaries file financial statements with state insurance regulatory authorities and the National Association of Insurance Commissioners (“NAIC”) that are prepared in accordance with Statutory Accounting Principles (“SAP”) prescribed or permitted by such authorities, which may vary materially from GAAP. Prescribed SAP includes the Accounting Practices and Procedures Manual of the NAIC as well as state laws, regulations and administrative rules. Permitted SAP encompasses all accounting practices not so prescribed. The principal differences between statutory financial statements and financial statements prepared in accordance with GAAP are that statutory financial statements do not reflect DAC and VOBA, some bond portfolios may be carried at amortized cost, assets and liabilities are presented net of reinsurance, contractholder liabilities are generally valued using more conservative assumptions and certain assets are non-admitted. Accordingly, statutory operating results and statutory capital and surplus may differ substantially from amounts reported in the GAAP basis financial statements for comparable items. The Company’s principal insurance subsidiaries’ statutory financial statements are based on a December 31 year end. Statutory net income and statutory capital and surplus of the Company’s wholly owned insurance subsidiaries were as follows: Subsidiary (state of domicile)(a) FGL Insurance (IA)(b) FGL NY Insurance (NY) Statutory Net Income: Year ended December 31, 2014 $ 105 $ 2 Year ended December 31, 2013 118 1 Year ended December 31, 2012 102 1 Statutory Capital and Surplus: December 31, 2014 1,212 61 December 31, 2013 1,108 62 (a) FGL NY Insurance is a subsidiary of FGL Insurance, and the columns should not be added together. (b) FGL Insurance Company re-domesticated to Iowa effective November 1, 2013. Prior to November 1, 2013, the Company was domiciled in the state of Maryland. The amount of statutory capital and surplus necessary to satisfy the applicable regulatory requirements is not significant in relation to FGL Insurance’s and FGL NY Insurance’s respective statutory capital and surplus. Life insurance companies are subject to certain Risk-Based Capital (“RBC”) requirements as specified by the NAIC. The RBC is used to evaluate the adequacy of capital and surplus maintained by an insurance company in relation to risks associated with: (i) asset risk, (ii) insurance risk, (iii) interest rate risk and (iv) business risk. The Company monitors the RBC of FGLH’s insurance subsidiaries. As of December 31, 2014 and 2013 , each of FGLH’s insurance subsidiaries had exceeded the minimum RBC requirements. The Company’s insurance subsidiaries are restricted by state laws and regulations as to the amount of dividends they may pay to their parent without regulatory approval in any year, the purpose of which is to protect affected insurance policyholders, depositors or investors. Any dividends in excess of limits are deemed “extraordinary” and require approval. Based on statutory results as of December 31, 2014, in accordance with applicable dividend restrictions, the Company’s subsidiaries could pay “ordinary” dividends of $121 to FGLH in 2015, less any dividends paid during the immediately preceding 12 month period. The Company did not declare or pay any dividends to FGLH during the 12 month period ended September 30, 2015 . Therefore, FGL Insurance is able to declare an ordinary dividend up to $121 with respect to its 2014 statutory results, subject to management’s discretion. 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 decrease in statutory capital and surplus of $5 at December 31, 2014 and an increase of $12 at December 31, 2013. Also, the Iowa Insurance Division granted FGL Insurance a permitted statutory accounting practice to reclassify its negative unassigned surplus balance of $806 to additional paid in capital as of April 6, 2011, the date the Company acquired FGL Insurance, which had 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. 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 $245 and $270 at December 31, 2014 and 2013, 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 $17 and $20 at December 31, 2014 and 2013, respectively. Without such permitted statutory accounting practices Raven Re’s statutory capital and surplus would be negative $75 and $109 as of December 31, 2014 and 2013, respectively and its risk-based capital would fall below the minimum regulatory requirements. The letter of credit facility is collateralized by NAIC 1 rated debt securities. If the permitted practice was revoked, the letter of credit could be replaced by the collateral assets with NBI’s consent. FGL Insurance’s statutory carrying value of Raven Re at December 31, 2014 and 2013 was $187 and $182 , respectively As of December 31, 2014 , FGL NY Insurance does not follow any prescribed or permitted statutory accounting practices that differ from the NAIC’s statutory accounting practices. On October 7, 2013 the New York State Department of Financial Services (“NYDFS”) announced an agreement with Philip A. Falcone, then the Chairman and Chief Executive Officer of HRG (FGL’s controlling shareholder), HRG, FGLH and FGL NY Insurance that Mr. Falcone will not exercise control, within the meaning of New York insurance law, over FGL NY Insurance or any other New York-licensed insurer for seven years (the “NYDFS Commitment”). Mr. Falcone resigned as Chairman and Chief Executive Officer of HRG effective December 1, 2014. Under the NYDFS Commitment agreement, FGLH agreed to maintain FGL NY Insurance’s RBC level at no less than 225% company action level RBC ratio, and established a trust account funded with $19 of cash or eligible securities to support that agreement. In addition, in connection with its re-domestication to Iowa, FGL Insurance agreed to the conditions set by the Iowa Commissioner that neither Mr. Falcone nor any employees of Harbinger Capital Partners LLC (“HCP”) may serve as an officer or director of FGL Insurance or FGL (but FGL Insurance may request that the Iowa Insurance Division lift this restriction after five years). FGL has complied with these requirements.

Other Liabilities

Other Liabilities	12 Months Ended
	Sep. 30, 2015
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities Other liabilities consisted of the following: Year ended September 30, 2015 2014 Amounts payable for investment purchases $ 125 $ 160 Retained asset account 213 212 Option collateral liabilities 7 135 Remittances and items not allocated 42 103 Amounts payable to reinsurers 17 52 Accrued expenses 43 42 Deferred reinsurance revenue 27 29 Other 89 104 Total $ 563 $ 837

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company sponsors a defined contribution plan in which eligible participants may defer a fixed amount or a percentage of their eligible compensation, subject to limitations, and the Company makes a discretionary matching contribution of up to 5% of eligible compensation. The Company has also established a nonqualified defined contribution plan for independent agents. The Company makes contributions to the plan based on both the Company’s and the agent’s performance. Contributions are discretionary and evaluated annually. Aggregate contributions charged to operations for the defined contribution plans, including discretionary amounts, were $2 , $1 and $1 , for the years ended September 30, 2015 , 2014 and 2013 , respectively.

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Sep. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	Quarterly Results (Unaudited) Unaudited quarterly results of operations are summarized below. Quarter Ended September 30, 2015 June 30, 2015 March 31, 2015 December 31, 2014 (Dollars in millions, except per share data) Premiums $ 15 $ 17 $ 15 $ 11 Net investment income 223 212 208 208 Net realized (losses) gains (112 ) 74 (58 ) 59 Insurance and investment product fees and other 24 23 22 20 Total revenue 150 326 187 298 Total expenses 101 192 193 269 Net income (loss) 30 86 (12 ) 14 Net income (loss) per common share - basic 0.52 1.48 (0.21 ) 0.24 Net income (loss) per common share - diluted 0.51 1.48 (0.21 ) 0.24 Quarter Ended September 30, 2014 June 30, 2014 March 31, 2014 December 31, 2013 (Dollars in millions, except per share data) Premiums $ 14 $ 13 $ 15 $ 14 Net investment income 201 191 184 184 Net realized gains (losses) 40 145 (2 ) 124 Insurance and investment product fees and other 17 19 17 15 Total revenue 272 368 214 337 Total expenses 211 280 222 266 Net income (loss) 39 57 25 42 Net income (loss) per common share - basic 0.66 0.97 0.43 0.87 Net income (loss) per common share - diluted 0.66 0.97 0.42 0.87

Schedule I - Summary of Investm

Schedule I - Summary of Investments	12 Months Ended
	Sep. 30, 2015
Summary of Investments, Other than Investments in Related Parties [Abstract]
Schedule I - Summary of Investments	Summary of Investments - Other than Investments in Related Parties September 30, 2015 (in millions) Amortized Cost Fair Value Amount at which shown on the balance sheet Fixed Maturities: Bonds: United States Government and government agencies and authorities $ 367 $ 381 $ 381 States, municipalities and political subdivisions 1,520 1,608 1,608 Foreign governments 7 7 7 Public utilities 1,893 1,849 1,849 All other corporate bonds 13,672 13,733 13,733 Redeemable preferred stock 163 168 168 Total fixed maturities 17,622 17,746 17,746 Equity securities: Common stocks: Public utilities — — — Banks, trust, and insurance companies 58 58 58 Industrial, miscellaneous and all other 3 3 3 Nonredeemable preferred stock 536 559 559 Total equity securities 597 620 620 Derivative investments 218 82 82 Commercial mortgage loans 491 491 491 Other long-term investments 164 155 155 Total investments $ 19,092 $ 19,094 $ 19,094

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information	12 Months Ended
	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule II - Condensed Financial Information	CONDENSED BALANCE SHEETS (in millions) September 30, 2015 September 30, 2014 ASSETS Investments in consolidated subsidiaries $ 1,464 $ 1,544 Fixed maturity securities, available for sale 7 — Equity securities, available-for-sale, at fair value 17 49 Cash and cash equivalents 13 66 Other assets 1 — Total assets $ 1,502 $ 1,659 LIABILITIES AND SHAREHOLDERS' EQUITY Total liabilities — — Shareholders' equity Preferred stock — — Common stock 1 1 Additional paid in capital 714 702 Retained earnings 710 607 Accumulated other comprehensive income 88 349 Treasury Stock (11 ) — Total shareholder's equity 1,502 1,659 Total liabilities and shareholder's equity $ 1,502 $ 1,659 CONDENSED STATEMENT OF OPERATIONS (in millions) Year ended September 30, 2015 2014 2013 Revenues $ (9 ) $ 2 $ — (9 ) 2 — Operating Expenses: General and administrative expenses 6 6 5 Total operating expenses 6 6 5 Operating loss (15 ) (4 ) (5 ) Other income (expense): Equity in net income of subsidiaries 133 167 344 Interest income from subsidiary — — 9 Income before income taxes 118 163 348 Income tax expense — — — Net income $ 118 $ 163 $ 348 CONDENSED STATEMENT OF CASH FLOWS (in millions) Year ended September 30, 2015 2014 2013 Cash flows from operating activities Net income $ 118 $ 163 $ 348 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Realized capital and other gains on investments 9 (1 ) — Equity in net income of subsidiaries (133 ) (167 ) (344 ) Dividends received — — 74 Accrued interest from subsidiary — — (9 ) Stock based compensation 10 3 — Other assets and other liabilities 2 (2 ) (1 ) Net cash (used in) provided by operating activities 6 (4 ) 68 Cash flows from investing activities: Proceeds from available-for-sale investments, sold, matured or repaid: 30 125 — Cost of available-for-sale investments: (15 ) (174 ) — Net repayment of notes from subsidiary — — 20 Capital contributions to subsidiaries — — (106 ) Net cash provided by (used in) investing activities 15 (49 ) (86 ) Cash flows from financing activities: Proceeds from issuance of common stock, net of transactions fees 2 173 — Cash capital contributions from parent — — 112 Dividends payments (15 ) (54 ) (94 ) Treasury stock (11 ) — — Distribution to FGLH and subsidiaries (50 ) — — Net cash (used in) provided by financing activities (74 ) 119 18 Change in cash and cash equivalents (53 ) 66 — Cash and cash equivalents at beginning of period 66 — — Cash and cash equivalents at end of period $ 13 $ 66 $ — Supplemental disclosures of cash flow information: Conversion of notes payable to investment in subsidiary $ — $ — $ 213 Distribution of non-cash net assets to HRG and subsidiaries $ — $ — $ 170

Schedule III - Supplementary In

Schedule III - Supplementary Insurance Information	12 Months Ended
	Sep. 30, 2015
Supplementary Insurance Information [Abstract]
Schedule III - Supplementary Insurance Information	Supplementary Insurance Information (in millions) Year ended September 30, 2015 2014 2013 Life Insurance (single segment): Deferred acquisition cost $ 801 $ 456 $ 331 Future policy benefits, losses, claims and loss expenses 3,468 3,504 3,557 Other policy claims and benefits payable 55 58 51 Premium revenue 58 56 59 Net investment income 851 760 708 Benefits, claims, losses and settlement expenses (578 ) (788 ) (533 ) Amortization of deferred acquisition costs (27 ) (39 ) (47 ) Other operating expenses (113 ) (102 ) (110 )

Schedule IV - Reinsurance

Schedule IV - Reinsurance	12 Months Ended
	Sep. 30, 2015
Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]
Schedule IV - Reinsurance	Reinsurance (In millions) For the year ended September 30, 2015 Gross Amount Ceded to other companies Assumed from other companies Net Amount Percentage of amount assumed of net Life insurance in force $ 2,933 $ (2,010 ) $ — $ 923 — % Premiums and other considerations Traditional life insurance premiums $ 260 $ (202 ) $ — $ 58 — % Annuity product charges 156 (69 ) — 87 — % Total premiums and other considerations $ 416 $ (271 ) $ — $ 145 — % For the year ended September 30, 2014 Gross Amount Ceded to other companies Assumed from other companies Net Amount Percentage of amount assumed of net Life insurance in force $ 2,786 $ (2,014 ) $ 16 $ 788 2 % Premiums and other considerations Traditional life insurance premiums $ 267 $ (247 ) $ 36 $ 56 65 % Annuity product charges 139 (73 ) — 66 — % Total premiums and other considerations $ 406 $ (320 ) $ 36 $ 122 30 % For the year ended September 30, 2013 Gross Amount Ceded to other companies Assumed from other companies Net Amount Percentage of amount assumed of net Life insurance in force $ 2,597 $ (1,965 ) $ 17 $ 649 3 % Premiums and other considerations Traditional life insurance premiums $ 279 $ (253 ) $ 33 $ 59 56 % Annuity product charges 136 (77 ) — 59 — % Total premiums and other considerations $ 415 $ (330 ) $ 33 $ 118 28 % See accompanying Report of Independent Registered Public Accounting Firm.

Significant Accounting Polici31

Significant Accounting Policies and Practices (Policies)	12 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying audited consolidated financial statements include the accounts of the Company and all other entities in which FGL has a controlling financial interest. All intercompany accounts and transactions have been eliminated in consolidation.
Revenue Recognition	Revenue Recognition Insurance Premiums The Company’s insurance premiums for traditional life insurance products are recognized as revenue when due from the contractholder. The Company’s traditional life insurance products include those products with fixed and guaranteed premiums and benefits and consist primarily of term life insurance and certain annuities with life contingencies. Premium collections for fixed indexed and fixed rate annuities, indexed universal life (“IUL”) policies and immediate annuities without life contingency are reported as deposit liabilities (i.e., contractholder funds) instead of as revenues. Similarly, cash payments to policyholders are reported as decreases in the liability for contractholder funds and not as expenses. Sources of revenues for products accounted for as deposit liabilities are net investment income, surrender and other charges deducted from contractholder funds, and net realized gains (losses) on investments. Net Investment Income Dividends and interest income, recorded in “Net investment income”, are recognized when earned. Income or losses upon call or prepayment of available-for-sale fixed maturity securities is recognized in net investment income. Amortization of premiums and accretion of discounts on investments in fixed maturity securities are reflected in “Net investment income” over the contractual terms of the investments in a manner that produces a constant effective yield. For mortgage-backed and asset-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’’. Net Investment Gains (Losses) Net investment gains (losses) include realized gains and losses from the sale of investments, write-downs for other-than-temporary impairments ("OTTI") of AFS investments, and gains and losses on derivative investments. Realized gains and losses on the sale of investments are determined using the specific identification method. Product Fees Product fee revenue from IUL products and deferred annuities is comprised of policy and contract fees charged for the cost of insurance, and policy administration and rider fees. Fees are assessed on a monthly basis and recognized as revenue when assessed and earned. Product fee revenue also includes surrender charges which are collected and recognized as revenue when the policy is surrendered.
Benefits and Other Changes in Policy Reserves	Benefits and Other Changes in Policy Reserves Benefit expenses for deferred annuity, FIA and IUL policies include index credits and interest credited to contractholder account balances and benefit claims incurred during the period in excess of contract account balances. Interest crediting rates associated with funds invested in the general account of our insurance subsidiaries during 2013 through 2015 ranged from 0.0% to 6.0% for deferred annuities and FIA's, combined, and 0.0% to 4.5% for IUL's. Other changes in policy reserves include the change in the fair value of the FIA embedded derivative and the change in the reserve for secondary guarantee benefit payments. Other changes in policy reserves also include the change in reserves for life insurance products. For traditional life and immediate annuities, policy benefit claims are charged to expense in the period that the claims are incurred.
Stock-Based Compensation	Stock-Based Compensation In general, we expense the fair value of stock awards included in our incentive compensation plans. As of the date our stock awards are approved and communicated to the recipients, the fair value of stock options is determined using a Black-Scholes options valuation methodology, and the fair value of other stock awards is based upon the market value of the stock. The fair value of the awards is expensed over the performance or service period, which generally corresponds to the vesting period, and is recognized as an increase to “Additional paid-in capital” in “Stockholders’ equity”. We classify certain stock awards as liabilities. For these awards, the fair value is classified as a liability on our Consolidated Balance Sheets, and the liability is marked-to-market through net income at the end of each reporting period. Stock-based compensation expense is reflected in “Acquisition and operating expenses, net of deferrals” on our Consolidated Statements of Operations.
Interest Expense	Interest Expense Interest expense on our debt is recognized as due and any associated premiums, discounts, and costs are amortized (accreted) over the term of the related borrowing utilizing the straight line method. Interest expense also includes non-use fees on the revolving credit facility entered into in August 2014.
Earnings Per Share	Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing earnings available to common shareholders by the average common shares outstanding. Diluted EPS is computed assuming the conversion or exercise of nonvested stock, stock options, and performance share units outstanding during the year. Stock options are excluded from the computation of diluted EPS, based on the application of the treasury stock method, if they are anti-dilutive.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid debt instruments purchased with original maturities of three months or less to be cash equivalents. As of September 30, 2015 and 2014 , there were no cash equivalents.
Investment	Investments Investment Securities The Company’s investments in debt and equity securities have been designated as AFS and are carried at fair value with unrealized gains and losses included in “Accumulated other comprehensive income” (“AOCI”), net of associated intangibles “shadow adjustments” (discussed in "Note 7. Intangibles" to the Company’s Consolidated Financial Statements ) and deferred income taxes. FS Holdco held trading equity securities during the year ended September 30, 2013, however there were no trading securities held at September 30, 2013. Trading securities were carried at fair value and changes in fair value were recorded in “Net investment gains (losses)” on the Consolidated Statements of Operations. Available-for-Sale Securities Other-Than-Temporary Impairments The Company regularly reviews AFS securities for declines in fair value that it determines to be other-than-temporary. For an equity security, if the Company does not have the ability and intent to hold the security for a sufficient period of time to allow for a recovery in value, it concludes that an OTTI has occurred and the cost of the equity security is written down to the current fair value, with a corresponding charge to “Net investment gains (losses)” in the accompanying Consolidated Statements of Operations. When assessing its ability and intent to hold an equity security to recovery, the Company considers, among other things, the severity and duration of the decline in fair value of the equity security as well as the cause of the decline, a fundamental analysis of the liquidity, business prospects and the overall financial condition of the issuer. For its fixed maturity available-for-sale securities, the Company generally considers the following in determining whether its unrealized losses are other-than-temporary: • The estimated range and period until recovery; • Current delinquencies and nonperforming assets of underlying collateral; • Expected future default rates; • Collateral value by vintage, geographic region, industry concentration or property type; • Subordination levels or other credit enhancements as of the balance sheet date as compared to origination; and • Contractual and regulatory cash obligations. The Company recognizes OTTI on debt (including redeemable and perpetual preferred stocks) securities in an unrealized loss position when one of the following circumstances exists: • The Company does not expect full recovery of its amortized cost based on the estimate of cash flows expected to be collected; • The Company intends to sell a security; or • It is more likely than not that the Company will be required to sell a security prior to recovery. If the Company intends to sell a debt security or it is more likely than not the Company will be required to sell the security before recovery of its amortized cost basis and the fair value of the security is below amortized cost, the Company will conclude that an OTTI has occurred and the amortized cost is written down to current fair value, with a corresponding charge to “Net investment gains (losses)” in the accompanying Consolidated Statements of Operations. If the Company does not intend to sell a debt security or it is more likely than not the Company will not be required to sell a debt security before recovery of its amortized cost basis and the present value of the cash flows expected to be collected is less than the amortized cost of the security (referred to as the credit loss), an OTTI has occurred and the amortized cost is written down to the estimated recovery value with a corresponding charge to “Net investment gains (losses)” in the accompanying Consolidated Statements of Operations, as this amount is deemed the credit loss portion of the OTTI. The remainder of the decline to fair value is recorded in AOCI as unrealized OTTI on available-for-sale securities, as this amount is considered a non-credit (i.e., recoverable) impairment. When assessing the Company’s intent to sell a debt security or if it is more likely than not the Company will be required to sell a debt security before recovery of its cost basis, the Company evaluates facts and circumstances such as, but not limited to, decisions to reposition the Company’s security portfolio, sale of securities to meet cash flow needs and sales of securities to capitalize on favorable pricing and tax planning strategies. In order to determine the amount of the credit loss for a security, the Company calculates the recovery value by performing a discounted cash flow analysis based on the current cash flows and future cash flows the Company expects to recover. The discount rate is the effective interest rate implicit in the underlying security. The effective interest rate is the original purchased yield or the yield at the date the debt security was previously impaired. When evaluating redeemable preferred stocks for OTTI the Company applies the accounting policy described above for debt securities. Additionally, the SEC’s staff in the Office of the Chief Accountant issued a letter (SEC OTTI Release) to the Financial Accounting Standards Board (“FASB”) on October 14, 2008, providing clarifying guidance on how to assess impairments of perpetual preferred securities (“PPS”), including perpetual preferred stock. After consultation with and concurrence of the FASB staff, the SEC staff has concluded that it will not object to an issuer treating a PPS similar to a debt security in an OTTI evaluation (including an anticipated recovery period), provided there has been no evidence of a deterioration in credit of the issuer. Consequently, when such criteria is met we apply the OTTI guidance of debt securities to perpetual preferred stock. When evaluating mortgage-backed securities and asset-backed securities, the Company considers a number of pool-specific factors as well as market level factors when determining whether or not the impairment on the security is temporary or other-than-temporary. The most important factor is the performance of the underlying collateral in the security and the trends of that performance. The Company uses this information about the collateral to forecast the timing and rate of mortgage loan defaults, including making projections for loans that are already delinquent and for those loans that are currently performing but may become delinquent in the future. Other factors used in this analysis include type of underlying collateral (e.g., prime, Alternative A-paper (“Alt-A”), or subprime), geographic distribution of underlying loans and timing of liquidations by state. Once default rates and timing assumptions are determined, the Company then makes assumptions regarding the severity of a default if it were to occur. Factors that impact the severity assumption include expectations for future home price appreciation or depreciation, loan size, first lien versus second lien, existence of loan level private mortgage insurance, type of occupancy and geographic distribution of loans. Once default and severity assumptions are determined for the security in question, cash flows for the underlying collateral are projected, including expected defaults and prepayments. These cash flows on the collateral are then translated to cash flows on the Company’s tranche based on the cash flow waterfall of the entire capital security structure. If this analysis indicates the entire principal on a particular security will not be returned, the security is reviewed for OTTI by comparing the present value of expected cash flows to amortized cost. To the extent that the security has already been impaired or was purchased at a discount, such that the amortized cost of the security is less than or equal to the present value of cash flows expected to be collected, no impairment is required. The Company also considers the ability of monoline insurers to meet their contractual guarantees on wrapped mortgage-backed securities. Otherwise, if the amortized cost of the security is greater than the present value of the cash flows expected to be collected, then an OTTI is recognized. The Company includes on the face of the Consolidated Statements of Operations the total OTTI recognized in "Net investment gains (losses)", with an offset for the amount of non-credit impairments recognized in AOCI. The Company discloses the amount of OTTI recognized in AOCI and other disclosures related to OTTI in "Note 4. Investments" to the Company’s Consolidated Financial Statements and the Consolidated Statements of Comprehensive Income.
Mortgage Loans on Real Estate	Mortgage Loans on Real Estate The Company’s mortgage loans on real estate are all commercial mortgage loans, which are reported at amortized cost, less impairment write-downs and allowance for losses. If a mortgage loan is determined to be impaired (i.e., when it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement or the loan is modified in a troubled debt restructuring), the carrying value of the mortgage loan is reduced to the lower of either the present value of expected cash flows from the loan, discounted at the loan’s original purchase yield, or fair value of the collateral. For those mortgages that are determined to require foreclosure, the carrying value is reduced to the fair value of the underlying collateral, net of estimated costs to obtain and sell at the point of foreclosure. The carrying value of the impaired loans is reduced by establishing an allowance with the offset recorded in "Net investment gains (losses)" in the Consolidated Statements of Operations. Mortgage loans are evaluated by the Company’s investment professionals, including an appraisal of loan-specific credit quality, property characteristics and market trends. Loan performance is continuously monitored on a loan-specific basis throughout the year. The Company’s review includes submitted appraisals, operating statements, rent revenues and annual inspection reports, among other items. This review evaluates whether the properties are performing at a consistent and acceptable level to secure the debt. Mortgages are rated for the purpose of quantifying the level of risk. Those loans with higher risk are placed on a watch list and are closely monitored for collateral deficiency or other credit events that may lead to a potential loss of principal or interest. The Company defines delinquent mortgage loans consistent with industry practice as 30 days past due. Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Loan origination fees and direct costs, as well as premiums and discounts, are amortized as level yield adjustments over the respective loan terms. Unamortized net fees or costs are recognized upon early repayment of the loans. Loan commitment fees are deferred and amortized on an effective yield basis over the term of the loan. We establish mortgage loan valuation allowances both on a loan specific basis for those loans considered impaired where a property specific or market specific risk has been identified that could likely result in a future loss, as well as for pools of loans with similar risk characteristics where a property specific or market specific risk has not been identified, but for which we expect to incur a loss. Accordingly, a valuation allowance is provided to absorb these estimated probable credit losses. The determination of the amount of valuation allowances is based upon our periodic evaluation and assessment of inherent risks associated with our loan portfolios. Such evaluations and assessments are based upon several factors, including our experience for loan losses, defaults and loss severity, and loss expectations for loans with similar risk characteristics. We evaluate and monitor loan-to-value ("LTV") ratios and debt service coverage ("DSC") ratios of our loans as indicators of potential risk of default in establishing our valuation allowance.
Derivative Financial Instruments	Derivative Financial Instruments The Company hedges certain portions of its exposure to product related equity market risk by entering into derivative transactions. All of such derivative instruments are recognized as either assets or liabilities in the accompanying Consolidated Balance Sheets at fair value. The change in fair value is recognized within “Net investment gains (losses)” in the accompanying Consolidated Statements of Operations . The Company purchases financial instruments and issues products that may contain embedded derivative instruments. If it is determined that the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract for measurement purposes. The embedded derivative is carried at fair value with changes in fair value reported in the accompanying Consolidated Statements of Operations .
Intangible Assets	Intangible Assets The Company’s intangible assets include value of business acquired (“VOBA”), deferred acquisition cost (“DAC”) and deferred sales inducements (“DSI”). VOBA is an intangible asset that reflects the estimated fair value of in-force contracts in a life insurance company acquisition less the amount recorded as insurance contract liabilities. It represents the portion of the purchase price that is allocated to the value of the rights to receive future cash flows from the business in force at the acquisition date. DAC represents costs that are related directly to new or renewal insurance contracts, which may be deferred to the extent recoverable. These costs include incremental direct costs of contract acquisition, primarily commissions, as well as certain costs related directly to underwriting, policy issuance and processing. DSI represents up front bonus credits and vesting bonuses to policyholder account values, which are accounted for similarly to DAC and are recorded within the DAC asset balance. The methodology for determining the amortization of DAC and VOBA varies by product type. For all insurance contracts accounted for under long-duration contract deposit accounting, amortization is based on assumptions consistent with those used in the development of the underlying contract adjusted for emerging experience and expected trends. DAC and VOBA amortization are reported within “Amortization of intangibles” in the accompanying Consolidated Statements of Operations. DAC and VOBA for investment-type products and DAC for IUL products are generally amortized over the lives of the policies in relation to the incidence of estimated gross profits (“EGPs”) from investment income, surrender charges and other product fees, policy benefits, maintenance expenses, mortality net of reinsurance ceded and expense margins, and recognized gains (losses) on investments and changes in fair value of the coinsurance embedded derivative. Changes in assumptions can have a significant impact on DAC and VOBA balances and amortization rates. Due to the relative size and sensitivity to minor changes in underlying assumptions of DAC and VOBA balances, the Company performs quarterly and annual analyses of DAC and VOBA for the annuity and IUL businesses. The DAC and VOBA balances are also periodically evaluated for recoverability to ensure that the unamortized portion does not exceed the expected recoverable amounts. At each evaluation date, actual historical gross profits are reflected, and estimated future gross profits and related assumptions are evaluated for continued reasonableness. Any adjustment in estimated future gross profits requires that the amortization rate be revised (“unlocking”) retroactively to the date of the policy or contract issuance. The cumulative unlocking adjustment is recognized as a component of current period amortization. The carrying amounts of DAC and VOBA are adjusted for the effects of realized and unrealized gains and losses on debt securities classified as available-for-sale and certain derivatives and embedded derivatives. For investment-type products, the DAC and VOBA assets are adjusted for the impact of unrealized gains (losses) on investments as if these gains (losses) had been realized, with corresponding credits or charges included in AOCI. Amortization expense of DAC and VOBA reflects an assumption for an expected level of credit-related investment losses. When actual credit-related investment losses are realized, the Company performs a retrospective unlocking of DAC and VOBA amortization as actual margins vary from expected margins. This unlocking is reflected in the accompanying Consolidated Statements of Operations.
Reinsurance	Reinsurance The Company’s insurance subsidiaries enter into reinsurance agreements with other companies in the normal course of business. The assets, liabilities, premiums and benefits of certain reinsurance contracts are presented on a net basis in the accompanying Consolidated Balance Sheets and Consolidated Statements of Operations , respectively, when there is a right of offset explicit in the reinsurance agreements. All other reinsurance agreements are reported on a gross basis in the Company’s Consolidated Balance Sheets as an asset for amounts recoverable from reinsurers or as a component of other liabilities for amounts, such as premiums, owed to the reinsurers, with the exception of amounts for which the right of offset also exists. Premiums and benefits are reported net of insurance ceded.
Income Tax	Income Taxes FGL and certain of its non-life insurance subsidiaries are included in the consolidated U.S. Federal income tax return of HRG. The Company’s life insurance subsidiaries file a consolidated life insurance income tax return. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company assesses the recoverability of its deferred tax assets in each reporting period under the guidance outlined within Accounting Standards Codification (“ASC”) Topic 740, “Income Taxes”. The guidance requires an assessment of both positive and negative evidence in determining the realizability of deferred tax assets. A valuation allowance is required to reduce the Company’s deferred tax asset to an amount that is more likely than not to be realized. In determining the net deferred tax asset and valuation allowance, management is required to make judgments and estimates related to projections of future profitability. These judgments include the following: the timing and extent of the utilization of net operating loss carry-forwards, the reversals of temporary differences, and tax planning strategies. Because of the change in facts and circumstances described in "Note 11. Income Taxes" to the Company’s Consolidated Financial Statements , during the year ended September 30, 2014 the Company determined that a portion of its existing deferred tax assets that had previously had a valuation allowance placed against them, were now more likely than not recoverable. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company has the ability and intent to recover in a tax-free manner assets (or liabilities) with book/tax basis differences for which no deferred taxes have been provided, in accordance with ASC Topic 740. The Company applies the accounting guidance for uncertain tax positions which prescribes a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. The guidance also provides information on de-recognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Accrued interest expense and penalties related to uncertain tax positions are recorded in “Income tax expense (benefit)” in the Company’s Consolidated Statements of Operations . The Company had no unrecognized tax benefits related to uncertain tax positions as of September 30, 2015 and 2014 .
Contractholder Funds	Contractholder Funds The liabilities for contractholder funds for deferred annuities, IUL and UL policies consist of contract account balances that accrue to the benefit of the contractholders, excluding surrender charges and other liabilities. The liabilities for FIAs consist of the value of the host contract plus the value of the embedded derivative. The embedded derivative is carried at fair value in “Contractholder funds” in the accompanying Consolidated Balance Sheets with changes in fair value reported in the accompanying Consolidated Statements of Operations. Liabilities for immediate annuities without life contingencies are the present value of future benefits. Liabilities for the secondary guarantees on UL-type products or Investment-type contracts are calculated by multiplying the benefit ratio by the cumulative assessments recorded from contract inception through the balance sheet date less the cumulative secondary guarantee benefit payments plus interest. If experience or assumption changes result in a new benefit ratio, the reserves are adjusted to reflect the changes in a manner similar to the unlocking of DAC and VOBA. The accounting for secondary guarantee benefits impacts, and is impacted by, EGPs used to calculate amortization of DAC and VOBA.
Future Policy Benefits	Future Policy Benefits The liabilities for future policy benefits and claim reserves for traditional life policies and life contingent pay-out annuity policies are computed using assumptions for investment yields, mortality and withdrawals based principally on generally accepted actuarial methods and assumptions at the time of contract issue. Investment yield assumptions for traditional direct life reserves for all contracts range from 5.8% to 6.2% . The investment yield assumptions for life contingent pay-out annuities range from 0.8% to 6.0% .
Commitments and Contingencies	Commitments and Contingencies Contingencies arising from environmental remediation costs, regulatory judgments, claims, assessments, guarantees, litigation, recourse reserves, fines, penalties and other sources are recorded when deemed probable and reasonably estimable.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Investments in Qualified Affordable Housing Projects In January 2014, the FASB issued amended guidance (ASU 2014-01, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects ) 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 Terms 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 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 ASC 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.

Basis of Presentation and Nat32

Basis of Presentation and Nature of Operations (Tables)	12 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Premiums and Annuity Deposits, net of Coinsurance, Not Included as Revenue	Premiums and annuity deposits (net of coinsurance), which are not included as revenues (except for traditional premiums) in the accompanying Consolidated Statements of Operations, collected during the years ended September 30, 2015 , 2014 and 2013 , by product type were as follows: Year ended September 30, Product Type 2015 2014 2013 Fixed indexed annuities $ 2,185 $ 1,451 $ 983 Fixed rate annuities 211 708 38 Single premium immediate annuities 16 10 7 Life insurance (a) 163 143 119 Total $ 2,575 $ 2,312 $ 1,147 (a) Life insurance includes Universal Life (“UL”) and traditional life insurance products.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Sep. 30, 2015
Investments and Variable Interest Entities [Abstract]
Available-for-Sale Securities	The Company’s consolidated investments at September 30, 2015 and 2014 are summarized as follows: September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for sale securities Asset-backed securities $ 2,148 $ 5 $ (47 ) $ 2,106 $ 2,106 Commercial mortgage-backed securities 878 14 (10 ) 882 882 Corporates 9,533 351 (354 ) 9,530 9,530 Equities 597 27 (4 ) 620 620 Hybrids 1,211 45 (42 ) 1,214 1,214 Municipals 1,520 103 (15 ) 1,608 1,608 Residential mortgage-backed securities 2,099 89 (26 ) 2,162 2,162 U.S. Government 233 11 — 244 244 Total available-for-sale securities 18,219 645 (498 ) 18,366 18,366 Derivative investments 218 13 (149 ) 82 82 Commercial mortgage loans 491 — — 491 491 Other invested assets 164 — (9 ) 155 155 Total investments $ 19,092 $ 658 $ (656 ) $ 19,094 $ 19,094 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. September 30, 2015 Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal and U.S. Government securities: Due in one year or less $ 156 $ 158 Due after one year through five years 1,801 1,818 Due after five years through ten years 2,947 2,948 Due after ten years 6,895 6,993 Subtotal 11,799 11,917 Other securities which provide for periodic payments: Asset-backed securities 2,148 2,106 Commercial mortgage-backed securities 878 882 Structured hybrids 698 679 Residential mortgage-backed securities 2,099 2,162 Subtotal 5,823 5,829 Total fixed maturity available-for-sale securities $ 17,622 $ 17,746
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: September 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 $ 816 $ (14 ) $ 833 $ (33 ) $ 1,649 $ (47 ) Commercial mortgage-backed securities 262 (8 ) 133 (2 ) 395 (10 ) Corporates 2,342 (201 ) 1,328 (153 ) 3,670 (354 ) Equities 37 — 106 (4 ) 143 (4 ) Hybrids 88 (4 ) 542 (38 ) 630 (42 ) Municipals 220 (6 ) 192 (9 ) 412 (15 ) Residential mortgage-backed securities 423 (10 ) 294 (16 ) 717 (26 ) Total available-for-sale securities $ 4,188 $ (243 ) $ 3,428 $ (255 ) $ 7,616 $ (498 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 712 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 396 Total number of available-for-sale securities in an unrealized loss position 1,108 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	A summary of the RSH-related impairments by investment is as follows: Year ended, September 30, 2015 Type Balance Sheet Classification OTTI Losses Collateralized loan obligations ("CLOs") (a) Fixed maturities, available-for-sale $ 25 Preferred equity (a) Equity securities, available-for-sale 21 Participations Other invested assets 35 OTTI, gross of reinsurance $ 81 CLOs (a) Fixed maturities, available-for-sale (1 ) Preferred equity (a) Equity securities, available-for-sale (21 ) OTTI, net of reinsurance $ 59 (a) Preferred equity and a portion of the CLOs are included in the FSRCI funds withheld portfolio, accordingly all income and losses on these assets are ceded to FSRCI. A summary of the Salus-related impairments by investment is as follows: Year ended September 30, 2015 Type Balance Sheet Classification OTTI Losses CLOs Fixed maturities, available-for-sale $ 13 Preferred equity (a) Equity securities, available-for-sale 9 Participations Other invested assets 2 OTTI, gross of reinsurance $ 24 CLOs (a) Fixed maturities, available-for-sale (1 ) Preferred equity (a) Equity securities, available-for-sale (9 ) Participations (a) Other invested assets (1 ) OTTI, net of reinsurance $ 13 (a) Preferred equity and a portion of the CLOs and participations are included in the FSRCI funds withheld portfolio, accordingly all income and losses on these assets are ceded to FSRCI. 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: Year ended September 30, 2015 2014 2013 OTTI recognized in net income: Asset-backed securities $ 36 $ — $ — Corporates 2 — 1 Hybrids — — 1 Residential mortgage-backed securities 8 — — Other invested assets 36 1 1 Total $ 82 $ 1 $ 3 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 years ended September 30, 2015 and 2014 , for which a portion of the OTTI was recognized in AOCI: Year ended September 30, 2015 2014 Beginning balance $ 3 $ 3 Increases attributable to credit losses on securities: OTTI was previously recognized — — OTTI was not previously recognized — — Ending balance $ 3 $ 3
Schedule of Accounts, Notes, Loans and Financing Receivable	September 30, 2015 September 30, 2014 Gross balance commercial mortgage loans $ 492 $ 136 Allowance for loan loss (1 ) — Net balance commercial mortgage loans $ 491 $ 136 The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables: September 30, 2015 September 30, 2014 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Funeral Home $ 1 — % $ — — % Hotel 13 3 % — — % Industrial - General 38 8 % — — % Industrial - Warehouse 76 15 % 48 35 % Multifamily 64 13 % 38 28 % Office 137 28 % 44 33 % Retail 163 33 % 6 4 % Total commercial mortgage loans, gross of valuation allowance $ 492 $ 136 Valuation allowance (1 ) — Total commercial mortgage loans $ 491 100 % $ 136 100 % U.S. Region: East North Central $ 121 25 % $ 28 21 % East South Central 12 2 % — — % Middle Atlantic 87 18 % 11 8 % Mountain 42 9 % — — % New England 9 2 % — — % Pacific 113 23 % 61 45 % South Atlantic 69 13 % — — % West North Central 14 3 % 6 4 % West South Central 25 5 % 30 22 % Total commercial mortgage loans, gross of valuation allowance $ 492 $ 136 Valuation allowance (1 ) — Total commercial mortgage loans $ 491 100 % $ 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 September 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) September 30, 2015 LTV Ratios: Less than 50% $ 115 $ — $ 11 $ 126 25 % $ 125 25 % 50% to 60% 161 20 — 181 37 % 180 37 % 60% to 75% 185 — — 185 38 % 185 38 % Commercial mortgage loans $ 461 $ 20 $ 11 $ 492 100 % $ 490 100 % 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.
Past Due Financing Receivables	The following provides the current and past due composition of our CMLs: September 30, 2015 September 30, 2014 Current to 30 days $ 492 $ 136 Past due — — Total carrying value $ 492 $ 136
Net Investment Income	The major sources of “ Net investment income ” on the accompanying Consolidated Statements of Operations were as follows: Year ended September 30, 2015 2014 2013 Fixed maturity available-for-sale securities $ 799 $ 723 $ 685 Equity available-for-sale securities 33 23 15 Related party loans 6 7 9 Commercial mortgage loans 11 3 1 Invested cash and short-term investments 2 — 1 Other investments 20 20 13 Gross investment income 871 776 724 Investment expense (20 ) (16 ) (16 ) Net investment income $ 851 $ 760 $ 708
Net Investment Gains	Details underlying “Net investment (losses) gains” reported on the accompanying Consolidated Statements of Operations were as follows: Year ended September 30, 2015 2014 2013 Net realized gains on fixed maturity available-for-sale securities $ 11 $ 104 $ 332 Realized gains (losses) on equity securities — (1 ) 12 Net realized gains on securities 11 103 344 Realized gains on certain derivative instruments 108 209 145 Unrealized (losses) gains on certain derivative instruments (215 ) 37 24 Change in fair value of reinsurance related embedded derivative 92 (42 ) 6 Change in fair value of other derivatives and embedded derivatives 7 2 — Realized (losses) gains on derivatives and embedded derivatives (8 ) 206 175 Realized (losses) on other invested assets (40 ) (2 ) (1 ) Net investment (losses) gains $ (37 ) $ 307 $ 518

Derivative Financial Instrume34

Derivative Financial Instruments (Tables)	12 Months Ended
	Sep. 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 FIA contracts, is as follows: September 30, 2015 September 30, 2014 Assets: Derivative investments: Call options $ 81 $ 296 Futures contracts 1 — Other invested assets: Other derivatives and embedded derivatives 21 13 Other assets: Reinsurance related embedded derivative 168 76 $ 271 $ 385 Liabilities: Contractholder funds: FIA embedded derivative $ 2,149 $ 1,908 Funds withheld for reinsurance liabilities Call options payable to FSRCI 5 23 Other liabilities: Futures contracts — 1 $ 2,154 $ 1,932
Schedule of Change in Fair Value of Derivative Instruments	The change in fair value of derivative instruments included in the accompanying Consolidated Statements of Operations is as follows: Year ended September 30, 2015 2014 2013 Revenues: Net investment (losses) gains: Call options $ (100 ) $ 220 $ 152 Futures contracts (7 ) 26 17 Other derivatives and embedded derivatives 7 2 — Reinsurance related embedded derivative 92 (42 ) 6 $ (8 ) $ 206 $ 175 Benefits and other changes in policy reserves: FIA embedded derivatives $ 241 $ 363 $ (6 )
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: September 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 $ 2,233 $ 16 $ — $ 16 $ 2,240 $ 93 $ 53 $ 40 Deutsche Bank A/A3/BBB+ 2,482 26 — 26 2,810 108 72 36 Morgan Stanley */A1/A 4,086 35 7 28 2,295 85 63 22 Barclay's Bank A/A2/A- 392 4 — 4 258 10 — 10 $ 9,193 $ 81 $ 7 $ 74 $ 7,603 $ 296 $ 188 $ 108 (a) An * represents credit ratings that were not available.

Fair Value of Financial Instr35

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
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, related party loans, portions of other invested assets and debt which are disclosed later within this footnote, are summarized according to the hierarchy previously described, as follows: September 30, 2015 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 502 $ — $ — $ 502 $ 502 Fixed maturity securities, available-for-sale: Asset-backed securities — 2,068 38 2,106 2,106 Commercial mortgage-backed securities — 738 144 882 882 Corporates — 8,566 964 9,530 9,530 Hybrids — 1,214 — 1,214 1,214 Municipals — 1,569 39 1,608 1,608 Residential mortgage-backed securities — 2,162 — 2,162 2,162 U.S. Government 60 184 — 244 244 Equity securities available-for-sale 26 560 34 620 620 Derivative financial instruments — 82 — 82 82 Reinsurance related embedded derivative, included in other assets — 168 — 168 168 Other invested assets — 11 129 140 140 Total financial assets at fair value $ 588 $ 17,322 $ 1,348 $ 19,258 $ 19,258 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 2,149 $ 2,149 $ 2,149 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 5 — 5 5 Total financial liabilities at fair value $ — $ 5 $ 2,149 $ 2,154 $ 2,154 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 — 2 224 226 226 Total financial assets at fair value $ 751 $ 17,264 $ 1,292 $ 19,307 $ 19,307 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 1,908 $ 1,908 $ 1,908 Derivative instruments: futures contracts — 1 — 1 1 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 22 — 22 22 Total financial liabilities at fair value $ — $ 23 $ 1,908 $ 1,931 $ 1,931	The following tables provide the carrying value and estimated fair value of our financial instruments that are carried on the Consolidated Balance Sheet at amounts other than fair value, summarized according to the fair value hierarchy previously described. September 30, 2015 Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets Commercial mortgage loans $ — $ — $ 490 $ 490 $ 491 Policy loans, included in other invested assets — — 9 9 11 Limited partnership investment, included in other invested assets — — 4 4 4 Related party loans — — 78 78 78 Total $ — $ — $ 581 $ 581 $ 584 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 14,126 $ 14,126 $ 15,621 Debt — 312 — 312 300 Total $ — $ 312 $ 14,126 $ 14,438 $ 15,921 September 30, 2014 Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets Commercial mortgage loans $ — $ — $ 136 $ 136 $ 136 Policy loans, included in other invested assets — — 11 11 11 Related party loans — — 113 113 113 Total $ — $ — $ 260 $ 260 $ 260 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 13,109 $ 13,109 $ 14,556 Debt — 317 — 317 300 Total $ — $ 317 $ 13,109 $ 13,426 $ 14,856
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 September 30, 2015 and 2014 are as follows: Fair Value at Range (Weighted average) September 30, 2015 Valuation Technique Unobservable Input(s) September 30, 2015 Assets Asset-backed securities $ 10 Broker-quoted Offered quotes 100.37% - 107.84% Asset-backed securities (Salus CLO equity tranche) 28 Third-Party Valuation Offered quotes 41.80% Discount rate 15.00% Constant default rate 2.00% RSH recovery 30.00% Other loan recoveries 4.00% - 100.00% Commercial mortgage-backed securities 144 Broker-quoted Offered quotes 99.32% - 119.00% Corporates 898 Broker-quoted Offered quotes 56.75% - 113.83% Corporates 66 Matrix Pricing Quoted prices 104.58% - 142.43% Municipals 39 Broker-quoted Offered quotes 111.47% Equity securities available-for-sale 25 Net Asset Value Not applicable 100.00% 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 15.00% Salus CLO equity 41.80% Other invested assets: Available-for-sale embedded derivative 10 Black Scholes Model Market value of AnchorPath fund 100.00% Salus participations 104 Market Pricing Offered quotes 100.00% Salus participation - RSH Corporation 15 Liquidation value – 30% Recovery Estimate Recovery estimate (wind-down costs) 30% - 34% Total $ 1,348 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 2,149 Discounted Cash Flow Market value of option 0.00% - 33.83% SWAP rates 1.38% - 2.00% Mortality multiplier 80.00% - 80.00% Surrender rates 0.50% - 75.00% Non-performance spread 0.25% - 0.25% Total liabilities at fair value $ 2,149 Fair Value at Range (Weighted average) September 30, 2014 Valuation Technique Unobservable Input(s) September 30, 2014 Assets Asset-backed securities $ 74 Broker-quoted Offered quotes 95.45% - 109.26% Commercial mortgage-backed securities 83 Broker-quoted Offered quotes 105.25% - 121.00% Corporates 832 Broker-quoted Offered quotes 61.67% - 119.75% 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 Market 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% SWAP rates 1.93% - 2.64% Mortality multiplier 80.00% Surrender rates 0.50% - 75.00% Non-performance spread 0.25% Total liabilities at fair value $ 1,908
Changes in Fair Value of Financial Instruments - Assets	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 years ended September 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. Year ended September 30, 2015 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 $ 74 $ (37 ) $ 3 $ 73 $ (15 ) $ (31 ) $ (29 ) $ 38 Commercial mortgage-backed securities 83 — (2 ) 63 — — — 144 Corporates 834 4 10 202 (1 ) (61 ) (24 ) 964 Municipals 37 — 2 — — — — 39 Equity securities available-for-sale 40 (30 ) (1 ) 25 — — — 34 Other invested assets: Available-for-sale embedded derivative 11 (1 ) — — — — — 10 Salus participations 213 (39 ) (5 ) 88 — (138 ) — 119 Total assets at Level 3 fair value $ 1,292 $ (103 ) $ 7 $ 451 $ (16 ) $ (230 ) $ (53 ) $ 1,348 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,908 $ 241 $ — $ — $ — $ — $ — $ 2,149 Total liabilities at Level 3 fair value $ 1,908 $ 241 $ — $ — $ — $ — $ — $ 2,149 (a) The net transfers out of Level 3 during the year ended September 30, 2015 were exclusively to Level 2. Year ended September 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 $ 246 $ — $ (1 ) $ 36 $ — $ — $ (207 ) $ 74 Commercial mortgage-backed securities 6 — — 83 — — (6 ) 83 Corporates 461 — 19 382 (12 ) (2 ) (14 ) 834 Municipals — — 2 35 — — — 37 Equity securities available-for-sale — — 1 39 — — — 40 Other invested assets: Available-for-sale embedded derivative — — — 11 — — — 11 Salus participations, included in other invested assets 157 — (1 ) 187 — (130 ) — 213 Total assets at Level 3 fair value $ 870 $ — $ 20 $ 773 $ (12 ) $ (132 ) $ (227 ) $ 1,292 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,545 $ 363 $ — $ — $ — $ — $ — $ 1,908 Total liabilities at Level 3 fair value $ 1,545 $ 363 $ — $ — $ — $ — $ — $ 1,908 (a) The net transfers out of Level 3 during the year ended September 30, 2014 were exclusively to Level 2. Year ended September 30, 2013 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Included in Included in Assets Contingent Purchase Price (b) $ 41 $ — $ — $ — $ — $ — $ (41 ) $ — Fixed maturity securities available-for-sale: Asset-backed securities 16 — 2 247 (8 ) — (11 ) 246 Commercial mortgage-backed securities 5 — — 1 — — — 6 Corporates 135 — (13 ) 410 (10 ) (27 ) (34 ) 461 Hybrids 9 — — — — — (9 ) — Equity securities available-for-sale — — — 11 (11 ) — — — Salus preferred equity, included in related party loans (b) 32 — — 30 — — (62 ) — Salus participations, included in other invested assets — — — 157 — — — 157 Total assets at Level 3 fair value $ 238 $ — $ (11 ) $ 856 $ (29 ) $ (27 ) $ (157 ) $ 870 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,551 $ (6 ) $ — $ — $ — $ — $ — $ 1,545 Total liabilities at Level 3 fair value $ 1,551 $ (6 ) $ — $ — $ — $ — $ — $ 1,545
Changes in Fair Value of Financial Instruments - Liabilities	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 years ended September 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. Year ended September 30, 2015 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 $ 74 $ (37 ) $ 3 $ 73 $ (15 ) $ (31 ) $ (29 ) $ 38 Commercial mortgage-backed securities 83 — (2 ) 63 — — — 144 Corporates 834 4 10 202 (1 ) (61 ) (24 ) 964 Municipals 37 — 2 — — — — 39 Equity securities available-for-sale 40 (30 ) (1 ) 25 — — — 34 Other invested assets: Available-for-sale embedded derivative 11 (1 ) — — — — — 10 Salus participations 213 (39 ) (5 ) 88 — (138 ) — 119 Total assets at Level 3 fair value $ 1,292 $ (103 ) $ 7 $ 451 $ (16 ) $ (230 ) $ (53 ) $ 1,348 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,908 $ 241 $ — $ — $ — $ — $ — $ 2,149 Total liabilities at Level 3 fair value $ 1,908 $ 241 $ — $ — $ — $ — $ — $ 2,149 (a) The net transfers out of Level 3 during the year ended September 30, 2015 were exclusively to Level 2. Year ended September 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 $ 246 $ — $ (1 ) $ 36 $ — $ — $ (207 ) $ 74 Commercial mortgage-backed securities 6 — — 83 — — (6 ) 83 Corporates 461 — 19 382 (12 ) (2 ) (14 ) 834 Municipals — — 2 35 — — — 37 Equity securities available-for-sale — — 1 39 — — — 40 Other invested assets: Available-for-sale embedded derivative — — — 11 — — — 11 Salus participations, included in other invested assets 157 — (1 ) 187 — (130 ) — 213 Total assets at Level 3 fair value $ 870 $ — $ 20 $ 773 $ (12 ) $ (132 ) $ (227 ) $ 1,292 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,545 $ 363 $ — $ — $ — $ — $ — $ 1,908 Total liabilities at Level 3 fair value $ 1,545 $ 363 $ — $ — $ — $ — $ — $ 1,908 (a) The net transfers out of Level 3 during the year ended September 30, 2014 were exclusively to Level 2. Year ended September 30, 2013 Balance at Beginning Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Included in Included in Assets Contingent Purchase Price (b) $ 41 $ — $ — $ — $ — $ — $ (41 ) $ — Fixed maturity securities available-for-sale: Asset-backed securities 16 — 2 247 (8 ) — (11 ) 246 Commercial mortgage-backed securities 5 — — 1 — — — 6 Corporates 135 — (13 ) 410 (10 ) (27 ) (34 ) 461 Hybrids 9 — — — — — (9 ) — Equity securities available-for-sale — — — 11 (11 ) — — — Salus preferred equity, included in related party loans (b) 32 — — 30 — — (62 ) — Salus participations, included in other invested assets — — — 157 — — — 157 Total assets at Level 3 fair value $ 238 $ — $ (11 ) $ 856 $ (29 ) $ (27 ) $ (157 ) $ 870 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,551 $ (6 ) $ — $ — $ — $ — $ — $ 1,545 Total liabilities at Level 3 fair value $ 1,551 $ (6 ) $ — $ — $ — $ — $ — $ 1,545

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Sep. 30, 2014
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 — 317 317 Less: Amortization related to: Unlocking 19 4 23 Interest 12 22 34 Amortization (68 ) (53 ) (121 ) Add: Adjustment for unrealized investment losses 165 55 220 Balance at September 30, 2015 $ 187 $ 801 $ 988 Accumulated amortization $ 391 VOBA DAC Total Balance at September 30, 2013 $ 192 $ 331 $ 523 Deferrals — 238 238 Less: Amortization related to: Unlocking 22 3 25 Interest 15 14 29 Amortization (87 ) (56 ) (143 ) Add: Adjustment for unrealized investment gains (83 ) (74 ) (157 ) Balance at September 30, 2014 $ 59 $ 456 $ 515 Accumulated amortization $ 354 VOBA DAC Total Balance at September 30, 2012 $ 104 $ 169 $ 273 Deferrals — 147 147 Less: Amortization related to: Unlocking 36 7 43 Interest 22 10 32 Amortization (195 ) (64 ) (259 ) VOBA and DAC adjustment to retained earnings (33 ) (7 ) (40 ) Add: Adjustment for unrealized investment losses 258 69 327 Balance at September 30, 2013 $ 192 $ 331 $ 523 Accumulated amortization $ 304
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 2016 $ 31 2017 28 2018 24 2019 19 2020 15 Thereafter 70

Debt (Tables)

Debt (Tables)	12 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Debt	The Company's outstanding debt as of September 30, 2015 and 2014 is as follows: September 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 years ended September 30, 2015 , 2014 and 2013 , respectively, were as follows: Year ended September 30, 2015 2014 2013 Interest Expense Amortization Interest Expense Amortization Interest Expense Amortization Debt $ 19 $ 4 $ 19 $ 4 $ 10 $ 2 Revolving credit facility — 1 — — — —

Equity (Tables)

Equity (Tables)	12 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Dividends Declared	The Company declared the following cash dividends during the years ended September 30, 2015 and 2014 : Date Declared Date Paid Date Shareholders of record Shareholders of record (in thousands) Cash Dividend declared (per share) Total cash paid March 3, 2014 March 31, 2014 March 17, 2014 58,271 $0.065 $4 May 6, 2014 June 2, 2014 May 19, 2014 58,271 $0.065 $4 August 5, 2014 September 1, 2014 August 18, 2014 58,271 $0.065 $4 November 18, 2014 December 15, 2014 December 1, 2014 58,279 $0.065 $4 February 10, 2015 March 9, 2015 February 23, 2015 57,975 $0.065 $4 May 1, 2015 June 1, 2015 May 18, 2015 57,932 $0.065 $4 July 31, 2015 August 31, 2015 August 17, 2015 57,976 $0.065 $4

Stock Compensation (Tables)

Stock Compensation (Tables)	12 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, 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: Year ended September 30, 2015 2014 2013 FGL Plans Stock options $ 1 $ — $ — Restricted shares 6 1 — Performance restricted stock units 3 1 — Unrestricted shares — 1 — 10 3 — FGLH Plans Stock Incentive Plan - stock options 1 6 3 2011 DEP — 1 1 Amended and Restated Stock Incentive Plan - stock options 5 5 1 Amended and Restated Stock Incentive Plan - restricted stock units 2 2 1 2012 DEP 1 — — 9 14 6 Total stock compensation expense 19 17 6 Related tax benefit 7 6 2 Net stock compensation expense $ 12 $ 11 $ 4
Schedule of Compensation Cost for Share-based Payment Arrangements, 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 September 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 — N/A 2011 DEP — N/A Amended and Restated Stock Incentive Plan - stock options — 0 Amended and Restated Stock Incentive Plan - restricted stock units — 0 2012 DEP — 1 — Total unrecognized stock compensation expense $ 11 1
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: 2015 2014 Weighted average fair value per options granted $4.96 $3.76 Risk-free interest rate 1.41%-1.50% 1.40%-1.41% Assumed dividend yield 1.18%-1.19% 1.30%-1.50% Expected option term 4.5 years 4.5 years Volatility 25% 25% 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% The following assumptions were used in the determination of the grant date fair value using the Black-Scholes option pricing model and based on the value of FGLH's common stock: 2013 Risk-free interest rate 0.8% Assumed dividend yield 6.0% Expected option term 4.5 years Volatility 27.0% At September 30, 2015, the liability for vested or expected to vest stock options was based on the fair values of the outstanding options. The following assumptions were used in the determination of these fair values using the Black-Scholes option pricing model and based on the value of FGLH's common stock: 2015 2014 Weighted average stock option fair value $74.99 $50.63 FGLH common stock fair value $122.02 $98.28 FGL common stock value $24.54 $21.35 Risk-free interest rate 0.48%-0.74% 0.65%-1.02% Assumed dividend yield 1.16% 1.20% Expected option term 1.50 - 2.25 years 2.00-2.75 years Volatility 25.0% 25.0%
Summary of Stock Options Outstanding and Related Activity	A summary of FGLH's outstanding stock options as of September 30, 2015 and related activity during the year then ended is as follows (share amount in thousands): FGLH Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2014 225 $ 46.19 Granted — — Exercised (137 ) 46.89 Forfeited or expired (1 ) 49.45 Stock options outstanding at September 30, 2015 87 45.04 Exercisable at September 30, 2015 61 43.11 Vested or projected to vest at September 30, 2015 86 45.01 A summary of FGL’s outstanding stock options as of September 30, 2015 , and related activity during the period, is as follows (share 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 (113 ) 17.00 Forfeited or expired (18 ) 20.73 Stock options outstanding at September 30, 2015 317 21.60 Exercisable at September 30, 2015 111 22.04 Vested or projected to vest at September 30, 2015 310 21.58
Summary of Restricted Stock and Restricted Stock Units Outstanding and Related Activity	A summary of FGLH's nonvested restricted stock units as of September 30, 2015 and related activity during the year 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 September 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 nonvested restricted shares outstanding as of September 30, 2015 , and related activity during the year 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 23.66 Vested (231 ) 21.60 Forfeited or expired (20 ) 21.67 Nonvested restricted shares outstanding at September 30, 2015 246 21.92
Schedule of Nonvested Performance-based Units Activity	A summary of nonvested PRSUs outstanding as of September 30, 2015 , and related activity during the year 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 22 additional units based on 2014 and 2015 financial performance 54 19.68 Vested (45 ) 17.00 Forfeited (72 ) 17.00 Nonvested PRSUs outstanding at September 30, 2015 515 17.69

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	Income tax (expense) benefit was calculated based upon the following components of income before income taxes: Year ended September 30, 2015 2014 2013 Pretax income (loss): United States $ 182 $ 189 $ 509 Outside the United States — — (1 ) Total pretax income $ 182 $ 189 $ 508
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax (expense) benefit were as follows: Year ended September 30, 2015 2014 2013 Current: Federal $ (14 ) $ (51 ) $ 27 State — — — Total current $ (14 ) $ (51 ) $ 27 Deferred: Federal $ (50 ) $ 25 $ (187 ) State — — — Total deferred $ (50 ) $ 25 $ (187 ) Income tax (expense)/benefit $ (64 ) $ (26 ) $ (160 )
Schedule of Effective Income Tax Rate Reconciliation	The difference between income taxes expected at the U.S. Federal statutory income tax rate of 35% and reported income tax (expense) benefit is summarized as follows: Year ended September 30, 2015 2014 2013 Expected income tax (expense)/benefit at Federal statutory rate $ (64 ) $ (66 ) $ (178 ) Tax effect of disregarded entities — — 2 Valuation allowance for deferred tax assets (1 ) 40 19 Amortization of low income housing tax credits (1 ) — — Benefit on LIHTC under proportional amortization method 1 — — Other 1 — (3 ) Reported income tax (expense)/benefit $ (64 ) $ (26 ) $ (160 ) Effective tax rate 35 % 14 % 31 %
Schedule of Deferred Tax Assets and Liabilities	The following table is a summary of the components of deferred income tax assets and liabilities: Year ended September 30, 2015 2014 Deferred tax assets: Net operating loss, credit and capital loss carryforwards $ 169 $ 184 Insurance reserves and claim related adjustments 424 454 Investments 24 — Other 32 43 Valuation allowance (120 ) (119 ) Total deferred tax assets $ 529 $ 562 Deferred tax liabilities: Value of business acquired $ (65 ) $ (21 ) Investments — (310 ) Deferred acquisition costs (209 ) (90 ) Other (27 ) (4 ) Total deferred tax liabilities $ (301 ) $ (425 ) Net deferred tax assets and liabilities $ 228 $ 137

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Unfunded investment commitment	A summary of unfunded commitments by invested asset class are included below: Asset Type September 30, 2015 Other invested assets $ 108 Commercial mortgage loans 27 Fixed maturity securities, available-for-sale 20 Other assets 16 Related party loans 5 Total $ 176
Schedule of Minimum Rental Commitments	As of September 30, 2015 , the minimum rental commitments under the non-cancelable leases are as follows: Fiscal Year Amount 2016 $ 2 2017 2 2018 2 2019 2 2020 2 Thereafter 1 Total $ 11

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Sep. 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 years ended September 30, 2015 , 2014 and 2013 were as follows: Year ended September 30, 2015 2014 2013 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 260 $ 833 $ 267 $ 1,103 $ 279 $ 777 Assumed — — 36 28 33 23 Ceded (202 ) (255 ) (247 ) (343 ) (253 ) (267 ) Net $ 58 $ 578 $ 56 $ 788 $ 59 $ 533

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]
Summary of Related Party Net Assets and Liabilities	The carrying value of FS Holdco’s net assets as of the distribution date was $129 and comprised of the following: Total assets $ 1,646 Total liabilities 1,517 Total net assets $ 129
Schedule of Related Party Transactions	Below are the ceded operating results to FSRCI’s for the year ended September 30, 2015 , September 30, 2014 and the period of August 9, 2013 to September 30, 2013: Revenues: Year ended September 30, 2015 Year ended September 30, 2014 August 9, 2013 to September 30, 2013 Premiums $ 1 $ 1 $ — Net investment income 63 64 7 Net investment (losses) gains (30 ) 25 (1 ) Insurance and investment product fees 4 5 1 Total revenues 38 95 7 Benefits and expenses: Benefits and other changes in policy reserves (42 ) (60 ) (1 ) Acquisition & operating expenses, net of deferrals (4 ) (6 ) — Total benefits and expenses (46 ) (66 ) (1 ) Operating (loss) income $ (8 ) $ 29 $ 6 The Company’s consolidated related party investments as of September 30, 2015 and 2014 , and related net investment income for the years ended September 30, 2015 , 2014 , and 2013 are summarized as follows: September 30, 2015 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available for sale $ 245 $ — $ 245 Fortress Investment Group CLOs Fixed maturities, available for sale 181 2 183 Salus preferred equity (a) Equity securities, available for sale 3 — 3 Salus participations (b) Other invested assets 110 1 111 Energy & Infrastructure Capital ("EIC") participations Other invested assets 9 — 9 Foreign exchange derivatives and embedded derivatives Other invested assets 11 — 11 HGI energy loan (c) Related party loans 70 1 71 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 17 different borrowers with an average loan fair value of $6 as of September 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. Year ended September 30, 2015 2014 2013 Type Investment Income Classification Net investment income Net investment income Net investment income Salus CLOs Fixed maturities $ 11 $ 13 $ 5 Fortress Investment Group CLOs Fixed maturities 8 2 — Leucadia National Corporation Fixed maturities — 1 — Jefferies Group Inc. Fixed maturities — 1 — Salus preferred equity Equity securities — 2 2 Salus participations Other invested assets 15 19 7 HGI energy loan Related party loans 5 6 4 Salus 2012 participations Related party loans — 1 4 Salus promissory note Related party loans 1 1 1 Salus revolver Related party loans — 1 —

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Sep. 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): Year ended September 30, 2015 2014 2013 Net income attributable to common shares - basic $ 118 $ 163 $ 348 Weighted-average common shares outstanding - basic 58,118 55,970 47,000 Dilutive effect of unvested restricted stock and unvested performance restricted stock 208 31 — Dilutive effect of stock options 35 10 — Weighted-average shares outstanding - diluted 58,361 56,011 47,000 Net income per common share: Basic $ 2.03 $ 2.91 $ 7.40 Diluted $ 2.02 $ 2.90 $ 7.40

Insurance Subsidiary Financia45

Insurance Subsidiary Financial Information and Regulatory Matters (Tables)	12 Months Ended
	Sep. 30, 2015
Insurance [Abstract]
Statutory Accounting Practices Disclosure	The Company’s principal insurance subsidiaries’ statutory financial statements are based on a December 31 year end. Statutory net income and statutory capital and surplus of the Company’s wholly owned insurance subsidiaries were as follows: Subsidiary (state of domicile)(a) FGL Insurance (IA)(b) FGL NY Insurance (NY) Statutory Net Income: Year ended December 31, 2014 $ 105 $ 2 Year ended December 31, 2013 118 1 Year ended December 31, 2012 102 1 Statutory Capital and Surplus: December 31, 2014 1,212 61 December 31, 2013 1,108 62 (a) FGL NY Insurance is a subsidiary of FGL Insurance, and the columns should not be added together. (b) FGL Insurance Company re-domesticated to Iowa effective November 1, 2013. Prior to November 1, 2013, the Company was domiciled in the state of Maryland.

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
	Sep. 30, 2015
Other Liabilities Disclosure [Abstract]
Schedule Other Liabilities	Other liabilities consisted of the following: Year ended September 30, 2015 2014 Amounts payable for investment purchases $ 125 $ 160 Retained asset account 213 212 Option collateral liabilities 7 135 Remittances and items not allocated 42 103 Amounts payable to reinsurers 17 52 Accrued expenses 43 42 Deferred reinsurance revenue 27 29 Other 89 104 Total $ 563 $ 837

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Sep. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Unaudited quarterly results of operations are summarized below. Quarter Ended September 30, 2015 June 30, 2015 March 31, 2015 December 31, 2014 (Dollars in millions, except per share data) Premiums $ 15 $ 17 $ 15 $ 11 Net investment income 223 212 208 208 Net realized (losses) gains (112 ) 74 (58 ) 59 Insurance and investment product fees and other 24 23 22 20 Total revenue 150 326 187 298 Total expenses 101 192 193 269 Net income (loss) 30 86 (12 ) 14 Net income (loss) per common share - basic 0.52 1.48 (0.21 ) 0.24 Net income (loss) per common share - diluted 0.51 1.48 (0.21 ) 0.24 Quarter Ended September 30, 2014 June 30, 2014 March 31, 2014 December 31, 2013 (Dollars in millions, except per share data) Premiums $ 14 $ 13 $ 15 $ 14 Net investment income 201 191 184 184 Net realized gains (losses) 40 145 (2 ) 124 Insurance and investment product fees and other 17 19 17 15 Total revenue 272 368 214 337 Total expenses 211 280 222 266 Net income (loss) 39 57 25 42 Net income (loss) per common share - basic 0.66 0.97 0.43 0.87 Net income (loss) per common share - diluted 0.66 0.97 0.42 0.87

Basis of Presentation and Nat48

Basis of Presentation and Nature of Operations - Schedule of Premiums and Annuity Deposits, net of Coinsurance, Not Included in Revenue (Details) - USD ($) $ in Millions		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Premiums and annuity deposits, net of coinsurance, not included as revenue, excluding traditional premiums		$ 2,575	$ 2,312	$ 1,147
Fixed indexed annuities
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Premiums and annuity deposits, net of coinsurance, not included as revenue, excluding traditional premiums		2,185	1,451	983
Fixed rate annuities
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Premiums and annuity deposits, net of coinsurance, not included as revenue, excluding traditional premiums		211	708	38
Single premium immediate annuities
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Premiums and annuity deposits, net of coinsurance, not included as revenue, excluding traditional premiums		16	10	7
Traditional life insurance premiums
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Premiums and annuity deposits, net of coinsurance, not included as revenue, excluding traditional premiums	[1]	$ 163	$ 143	$ 119
[1]	Life insurance includes Universal Life (“UL”) and traditional life insurance products.

Basis of Presentation and Nat49

Basis of Presentation and Nature of Operations - Narrative (Details) $ / shares in Units, $ in Millions	Sep. 17, 2014	Aug. 09, 2013	Dec. 31, 2012	Sep. 30, 2015Segmentshares	Nov. 08, 2015USD ($)$ / shares	Aug. 23, 2013USD ($)
Effects of Reinsurance [Line Items]
Shareholders' disclosure, common stock (in shares) | shares				47,000,000
Shareholders' disclosure, ownership percentage				81.00%
Reporting segments | Segment				1
Fgl Reinsurance Agreement With Fsr
Effects of Reinsurance [Line Items]
Reinsurance Arrangement In Percentage	30.00%	10.00%	10.00%
Harbinger Group, Inc.
Effects of Reinsurance [Line Items]
Assignment of purchase price adjustment to Harbinger						$ 50
Scenario, Forecast | Anbang Insurance Group Co., Ltd.
Effects of Reinsurance [Line Items]
Business Acquisition, Termination Fee Payable to Parent in event of termination of Merger Agreement					$ 51
Scenario, Forecast | FGL [Member] | Anbang Insurance Group Co., Ltd.
Effects of Reinsurance [Line Items]
Business Acquisition, Share Price | $ / shares					$ 26.80

Significant Accounting Polici50

Significant Accounting Policies and Practices - Narrative (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Accounting Policy [Line Items]
Cash and cash equivalents	$ 0	$ 0
Trading Securities, Equity			$ 0
Unrecognized Tax Benefits	0	0
Reserves for Contractholder Funding Agreement	482,000,000	526,000,000
FHLB collateral pledged	$ 524,000,000	$ 573,000,000
Fixed indexed annuities | Minimum
Accounting Policy [Line Items]
Interest Crediting Rates for Funds at Subsidiaries	0.00%
Fixed indexed annuities | Maximum
Accounting Policy [Line Items]
Interest Crediting Rates for Funds at Subsidiaries	6.00%
Indexed Universal Life | Minimum
Accounting Policy [Line Items]
Interest Crediting Rates for Funds at Subsidiaries	0.00%
Indexed Universal Life | Maximum
Accounting Policy [Line Items]
Interest Crediting Rates for Funds at Subsidiaries	4.50%
Traditional life insurance premiums | Minimum
Accounting Policy [Line Items]
Estimated investment yield	5.80%
Traditional life insurance premiums | Maximum
Accounting Policy [Line Items]
Estimated investment yield	6.20%
Life Contingent Payout Annuity | Minimum
Accounting Policy [Line Items]
Estimated investment yield	0.80%
Life Contingent Payout Annuity | Maximum
Accounting Policy [Line Items]
Estimated investment yield	6.00%

Significant Risks and Uncerta51

Significant Risks and Uncertainties - Narrative (Details) $ in Millions	12 Months Ended
	Sep. 30, 2015USD ($)Insurers	Sep. 30, 2014USD ($)Insurers	Sep. 30, 2013USD ($)
Concentration Risk [Line Items]
Change in DAC and VOBA amortization	$ 55	$ (2)	$ (33)
Increase/(Decreased) in liability for annuity contracts	18	(4)	$ (45)
FGL's investment securities in the banking industry	$ 170	$ 365
Exposure of FGL's invested assets	1.00%	2.00%
Number of issuers in investment | Insurers	1	2
Wilton Reassurance Company
Concentration Risk [Line Items]
Net amount recoverable	$ 1,493
Front Street RE (Cayman) Ltd.
Concentration Risk [Line Items]
Net amount recoverable	1,227
All Financial Instruments
Concentration Risk [Line Items]
FGL's investment securities in the banking industry	$ 1,979	$ 2,240
Exposure of FGL's invested assets	10.00%	12.00%
Number of issuers in investment | Insurers	83
Percentage of total holdings in industry	39.00%
Single Issuer
Concentration Risk [Line Items]
FGL's investment securities in the banking industry	$ 170	$ 0
Exposure of FGL's invested assets	1.00%	1.00%

Investments - Available-for-Sa

Investments - Available-for-Sale Securities Table (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Investment, Cost or Amortized Cost	$ 18,219	$ 17,371
Gross Unrealized Gains	645	872
Gross Unrealized Losses	(498)	(110)
Available-for-sale Securities	18,366	18,133
Fixed maturities securities, available-for-sale, at fair value	18,366	18,133
Investments, Derivatives, Fair Value to Amortized Cost Basis [Abstract]
Derivatives, Amortized Cost	218	178
Derivatives, Gross Unrealized Gain	13	123
Derivatives,Gross Unrealized Loss	(149)	(5)
Derivative Investments, Fair Value	82	296
Derivative investments	82	296
Other Investments, Fair Value to Amortized Cost Basis [Abstract]
Other Investments Amortized Cost	491	136
Investments, Commercial Mortgage Loans, Accumulated Gross Unrealized Gain before Tax	0	0
Other Investments, Gross Unrealized Loss	0	0
Other Investments, Fair Value	491	136
Commercial mortgage loans	491	136
Investments, Cost or Amortized Cost	19,092	17,922
Investments, Gross Unrealized Gain	658	995
Investments, Gross Unrealized Loss	(656)	(115)
Investments, Fair Value Disclosure	19,094	18,802
Investments	19,094	18,802
Asset-backed securities
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Investment, Cost or Amortized Cost	2,148	2,040
Gross Unrealized Gains	5	12
Gross Unrealized Losses	(47)	(20)
Available-for-sale Securities	2,106	2,032
Fixed maturities securities, available-for-sale, at fair value	2,106	2,032
Commercial mortgage-backed securities
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Investment, Cost or Amortized Cost	878	618
Gross Unrealized Gains	14	21
Gross Unrealized Losses	(10)	(2)
Available-for-sale Securities	882	637
Fixed maturities securities, available-for-sale, at fair value	882	637
Corporates
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Investment, Cost or Amortized Cost	9,533	9,329
Gross Unrealized Gains	351	499
Gross Unrealized Losses	(354)	(49)
Available-for-sale Securities	9,530	9,779
Fixed maturities securities, available-for-sale, at fair value	9,530	9,779
Equities
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Investment, Cost or Amortized Cost	597	679
Gross Unrealized Gains	27	24
Gross Unrealized Losses	(4)	(5)
Available-for-sale Securities	620	698
Fixed maturities securities, available-for-sale, at fair value	620	698
Hybrids
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Investment, Cost or Amortized Cost	1,211	1,279
Gross Unrealized Gains	45	52
Gross Unrealized Losses	(42)	(15)
Available-for-sale Securities	1,214	1,316
Fixed maturities securities, available-for-sale, at fair value	1,214	1,316
Municipals
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Investment, Cost or Amortized Cost	1,520	1,150
Gross Unrealized Gains	103	117
Gross Unrealized Losses	(15)	(7)
Available-for-sale Securities	1,608	1,260
Fixed maturities securities, available-for-sale, at fair value	1,608	1,260
Residential mortgage-backed securities
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Investment, Cost or Amortized Cost	2,099	1,985
Gross Unrealized Gains	89	140
Gross Unrealized Losses	(26)	(11)
Available-for-sale Securities	2,162	2,114
Fixed maturities securities, available-for-sale, at fair value	2,162	2,114
U.S. Government
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Investment, Cost or Amortized Cost	233	291
Gross Unrealized Gains	11	7
Gross Unrealized Losses	0	(1)
Available-for-sale Securities	244	297
Fixed maturities securities, available-for-sale, at fair value	244	297
Other invested assets
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Investment, Cost or Amortized Cost	164	237
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(9)	0
Available-for-sale Securities	155	237
Fixed maturities securities, available-for-sale, at fair value	$ 155	$ 237

Investments - Amortized Cost a

Investments - Amortized Cost and Fair Value of Fixed Maturity Available-for-Sale Securities (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	$ 156
Due after one year through five years, Amortized Cost	1,801
Due after five years through ten years, Amortized Cost	2,947
Due after ten years, Amortized Cost	6,895
Subtotal, Amortized Cost	11,799
Other securities which provide for periodic payments, Amortized Cost	5,823
Total fixed maturity available-for-sale securities, Amortized Cost	17,622	$ 16,692
Due in one year or less, Fair Value	158
Due after one year through five years, Fair Value	1,818
Due after five years through ten years, Fair Value	2,948
Due after ten years, Fair Value	6,993
Subtotal, Fair Value	11,917
Other securities which provide for periodic payments, Fair Value	5,829
Total fixed maturity available-for-sale securities, Fair Value	17,746
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	2,148
Other securities which provide for periodic payments, Fair Value	2,106
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	878
Other securities which provide for periodic payments, Fair Value	882
Structured hybrids
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	698
Other securities which provide for periodic payments, Fair Value	679
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	2,099
Other securities which provide for periodic payments, Fair Value	$ 2,162

Investments - Fair Value and G

Investments - Fair Value and Gross Unrealized Losses of Available-for-Sale Securities (Detail) $ in Millions	Sep. 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	$ 4,188	$ 2,691
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(243)	(40)
Available-for-sale securities, Fair Value, 12 months or longer	3,428	2,287
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(255)	(70)
Available-for-sale securities, Fair Value, Total	7,616	4,978
Available-for-sale Securities, Gross Unrealized Losses, Total	$ (498)	$ (110)
Total number of available-for-sale securities in an unrealized loss position less than twelve months | Security	712	324
Total number of available-for-sale securities in an unrealized loss position twelve months or longer | Security	396	311
Total number of available-for-sale securities in an unrealized loss position | Security	1,108	635
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	$ 816	$ 939
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(14)	(13)
Available-for-sale securities, Fair Value, 12 months or longer	833	290
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(33)	(7)
Available-for-sale securities, Fair Value, Total	1,649	1,229
Available-for-sale Securities, Gross Unrealized Losses, Total	(47)	(20)
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	262	160
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(8)	(1)
Available-for-sale securities, Fair Value, 12 months or longer	133	1
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(2)	(1)
Available-for-sale securities, Fair Value, Total	395	161
Available-for-sale Securities, Gross Unrealized Losses, Total	(10)	(2)
Corporates
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	2,342	817
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(201)	(16)
Available-for-sale securities, Fair Value, 12 months or longer	1,328	1,127
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(153)	(33)
Available-for-sale securities, Fair Value, Total	3,670	1,944
Available-for-sale Securities, Gross Unrealized Losses, Total	(354)	(49)
Equities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	37	181
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses		(2)
Available-for-sale securities, Fair Value, 12 months or longer	106	54
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(4)	(3)
Available-for-sale securities, Fair Value, Total	143	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	88	258
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(4)	(2)
Available-for-sale securities, Fair Value, 12 months or longer	542	290
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(38)	(13)
Available-for-sale securities, Fair Value, Total	630	548
Available-for-sale Securities, Gross Unrealized Losses, Total	(42)	(15)
States, municipalities and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	220
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(6)
Available-for-sale securities, Fair Value, 12 months or longer	192	265
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(9)	(7)
Available-for-sale securities, Fair Value, Total	412	265
Available-for-sale Securities, Gross Unrealized Losses, Total	(15)	(7)
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months	423	299
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses	(10)	(6)
Available-for-sale securities, Fair Value, 12 months or longer	294	178
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	(16)	(5)
Available-for-sale securities, Fair Value, Total	717	477
Available-for-sale Securities, Gross Unrealized Losses, Total	(26)	(11)
U.S. Government
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Fair Value, Less than 12 months		37
Available For Sale Securities In A Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses		0
Available-for-sale securities, Fair Value, 12 months or longer	0	82
Available-for-sale Securities, Gross Unrealized Losses, 12 months or longer	0	(1)
Available-for-sale securities, Fair Value, Total	0	119
Available-for-sale Securities, Gross Unrealized Losses, Total	$ 0	$ (1)

Investments - Reconciliation o

Investments - Reconciliation of Other than Temporary Impairment on Fixed Maturity (Detail) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Balance at the beginning of the period	$ 3	$ 3
Increases attributable to credit losses on securities:
OTTI was previously recognized	0	0
OTTI was not previously recognized	0	0
Balance at the end of the period	$ 3	$ 3

Investments - Other-than-Tempo

Investments - Other-than-Temporary Impairments (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Schedule of Investments [Line Items]
Total other-than-temporary impairments		$ 82	$ 1	$ 3
Other than Temporary Impairment Losses, Investments		82	1	3
Other than Temporary Impairment Losses, Investments, Net of Reinsurance		0
Collateralized Loan Obligations
Schedule of Investments [Line Items]
Total other-than-temporary impairments		36	0	0
Corporates
Schedule of Investments [Line Items]
Total other-than-temporary impairments		2	0	1
Hybrids
Schedule of Investments [Line Items]
Total other-than-temporary impairments		0	0	1
Non-agency residential mortgage-backed securities
Schedule of Investments [Line Items]
Total other-than-temporary impairments		8	0	0
Other invested assets
Schedule of Investments [Line Items]
Total other-than-temporary impairments		36	$ 1	$ 1
Front Street RE (Cayman) Ltd.
Schedule of Investments [Line Items]
Other than Temporary Impairment Losses, Investments		81
Other than Temporary Impairment Losses, Investments, Net of Reinsurance	$ 0	59
Salus Capital Partners L L C
Schedule of Investments [Line Items]
Other than Temporary Impairment Losses, Investments		24
Other than Temporary Impairment Losses, Investments, Net of Reinsurance		13
Fixed maturity securities, available-for-sale | Front Street RE (Cayman) Ltd. | Collateralized Loan Obligations
Schedule of Investments [Line Items]
Other than Temporary Impairment Losses, Investments		25
Other than Temporary Impairment Losses, Investments, Reinsurance Coverage		(1)
Fixed maturity securities, available-for-sale | Salus Capital Partners L L C | Collateralized Loan Obligations
Schedule of Investments [Line Items]
Other than Temporary Impairment Losses, Investments		13
Other than Temporary Impairment Losses, Investments, Reinsurance Coverage		(1)
Equity Available For Sale Securities | Front Street RE (Cayman) Ltd. | Salus Preferred Stock
Schedule of Investments [Line Items]
Other than Temporary Impairment Losses, Investments		21
Other than Temporary Impairment Losses, Investments, Reinsurance Coverage		(21)
Equity Available For Sale Securities | Salus Capital Partners L L C | Salus Preferred Stock
Schedule of Investments [Line Items]
Other than Temporary Impairment Losses, Investments		9
Other than Temporary Impairment Losses, Investments, Reinsurance Coverage		(9)
Other invested assets
Schedule of Investments [Line Items]
Other than Temporary Impairment Losses, Investments		36
Other invested assets | Front Street RE (Cayman) Ltd. | Salus Participations
Schedule of Investments [Line Items]
Other than Temporary Impairment Losses, Investments		35
Other invested assets | Salus Capital Partners L L C | Salus Participations
Schedule of Investments [Line Items]
Other than Temporary Impairment Losses, Investments		2
Other than Temporary Impairment Losses, Investments, Reinsurance Coverage		$ (1)

Investments - Schedule of Comme

Investments - Schedule of Commercial Mortgage Loan Investment (Details) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 492	$ 136
Loans and Leases Receivable, Commercial, Allowance	(1)	0
Commercial mortgage loans	$ 491	$ 136
Commercial Mortgage Receivable, Percentage of Total	100.00%	100.00%
Financing Receivable, Recorded Investment, Past Due	$ 0	$ 0
East North Central US
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 121	$ 28
Commercial Mortgage Receivable, Percentage of Total	25.00%	21.00%
Middle Atlantic US
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 12	$ 0
Commercial Mortgage Receivable, Percentage of Total	2.00%	0.00%
Pacific US
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 87	$ 11
Commercial Mortgage Receivable, Percentage of Total	18.00%	8.00%
South Atlantic US
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 42	$ 0
Commercial Mortgage Receivable, Percentage of Total	9.00%	0.00%
West North Central US
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 9	$ 0
Commercial Mortgage Receivable, Percentage of Total	2.00%	0.00%
West South Central US
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 113	$ 61
Commercial Mortgage Receivable, Percentage of Total	23.00%	45.00%
Mountain
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 69	$ 0
Commercial Mortgage Receivable, Percentage of Total	13.00%	0.00%
New England
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 14	$ 6
Commercial Mortgage Receivable, Percentage of Total	3.00%	4.00%
East South Central
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 25	$ 30
Commercial Mortgage Receivable, Percentage of Total	5.00%	22.00%
Funeral Home
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 1	$ 0
Commercial Mortgage Receivable, Percentage of Total	0.00%	0.00%
Hotel
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 13	$ 0
Commercial Mortgage Receivable, Percentage of Total	3.00%	0.00%
Industrial Property
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 38	$ 0
Commercial Mortgage Receivable, Percentage of Total	8.00%	0.00%
Warehouse
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 76	$ 48
Commercial Mortgage Receivable, Percentage of Total	15.00%	35.00%
Multifamily
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 64	$ 38
Commercial Mortgage Receivable, Percentage of Total	13.00%	28.00%
Office Building
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 137	$ 44
Commercial Mortgage Receivable, Percentage of Total	28.00%	33.00%
Retail Site
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 163	$ 6
Commercial Mortgage Receivable, Percentage of Total	33.00%	4.00%
1 to 29 Days Past Due
Schedule of Investments [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 492	$ 136
LTV Less Than 50 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 126	$ 45
Commercial Mortgage Receivable, Percentage of Total	25.00%	33.00%
LTV 50 to 60 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 181	$ 20
Commercial Mortgage Receivable, Percentage of Total	37.00%	15.00%
LTV 60 to 75 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 185	$ 71
Commercial Mortgage Receivable, Percentage of Total	38.00%	52.00%
Greater than 1.25
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 461	$ 135
Greater than 1.25 | LTV Less Than 50 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	115	44
Greater than 1.25 | LTV 50 to 60 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	161	20
Greater than 1.25 | LTV 60 to 75 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	185	71
Greater than 1.00 but less than 1.25
Schedule of Investments [Line Items]
Commercial mortgage loans	20	0
Greater than 1.00 but less than 1.25 | LTV Less Than 50 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	0	0
Greater than 1.00 but less than 1.25 | LTV 50 to 60 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	20	0
Greater than 1.00 but less than 1.25 | LTV 60 to 75 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	0	0
Ratio Not Available
Schedule of Investments [Line Items]
Commercial mortgage loans	11	1
Ratio Not Available | LTV Less Than 50 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	11	1
Ratio Not Available | LTV 50 to 60 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	0	0
Ratio Not Available | LTV 60 to 75 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	0	0
Fair Value
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 490	$ 136
Commercial Mortgage Receivable, Percentage of Total	100.00%	100.00%
Fair Value | LTV Less Than 50 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 125	$ 45
Commercial Mortgage Receivable, Percentage of Total	25.00%	33.00%
Fair Value | LTV 50 to 60 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 180	$ 20
Commercial Mortgage Receivable, Percentage of Total	37.00%	15.00%
Fair Value | LTV 60 to 75 Percent
Schedule of Investments [Line Items]
Commercial mortgage loans	$ 185	$ 71
Commercial Mortgage Receivable, Percentage of Total	38.00%	52.00%

Investments - Net Investment I

Investments - Net Investment Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Schedule of Investments [Line Items]
Gross investment income	$ 871	$ 776	$ 724
External investment expense	(20)	(16)	(16)
Net investment income	851	760	708
Fixed maturity available-for-sale securities
Schedule of Investments [Line Items]
Gross investment income	799	723	685
Equities
Schedule of Investments [Line Items]
Gross investment income	33	23	15
Related party loans
Schedule of Investments [Line Items]
Gross investment income	6	7	9
Commercial mortgage loans
Schedule of Investments [Line Items]
Gross investment income	11	3	1
Invested cash and short-term investments
Schedule of Investments [Line Items]
Gross investment income	2	0	1
Other investments
Schedule of Investments [Line Items]
Gross investment income	$ 20	$ 20	$ 13

Investments - Net Investment G

Investments - Net Investment Gains (Losses) (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Investments and Variable Interest Entities [Abstract]
Net realized gains on fixed maturity available-for-sale securities									$ 11	$ 104	$ 332
Realized gains on equity securities									0	(1)	12
Net realized gains on securities									11	103	344
Realized gains (losses) on certain derivative instruments									108	209	145
Unrealized (losses) gains on certain derivative instruments									(215)	37	24
Change in fair value of reinsurance related embedded derivative									92	(42)	6
Change in fair value of other derivatives and embedded derivatives									7	2	0
Realized (losses) gains on derivatives and embedded derivatives									(8)	206	175
Realized (losses) on other invested assets									(40)	(2)	(1)
Net investment (losses) gains	$ (112)	$ 74	$ (58)	$ 59	$ 40	$ 145	$ (2)	$ 124	$ (37)	$ 307	$ 518

Investments - Narrative (Detai

Investments - Narrative (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)loanInvestment	Sep. 30, 2014USD ($)Investment	Sep. 30, 2013USD ($)	Sep. 30, 2015	Sep. 30, 2015payment	Sep. 30, 2015loan	Jun. 30, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Assets Held by Insurance Regulators			$ 16,012,000,000
Investment, Non-Income Producing, Number of Investments | Investment			0	0
FHLB collateral pledged			$ 524,000,000	$ 573,000,000
Available For Sale Depressed Securities Fair Value Disclosure			$ 302,000,000	0
Percentage Of Available For Sale Depressed Securities Above Amortized Cost			20.00%
Percentage Of Available For Sale Depressed Securities In Relation To Carrying Values Of All Investments			2.00%
Other than Temporary Impairment Losses, Investments			$ 82,000,000	1,000,000	$ 3,000,000
Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Including Credit Impairments			74,000,000	1,000,000	1,000,000
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Change in Status			8,000,000	0	2,000,000
Available-for-sale Securities, Amortized Cost Basis			18,219,000,000	17,371,000,000
Available-for-sale Securities			18,366,000,000	18,133,000,000
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net			82,000,000	1,000,000	3,000,000
Other than Temporary Impairment Losses, Investments, Net of Reinsurance			$ 0
Financing Receivable, Number of Loans Past Due							0	0
Loans and Leases Receivable, Impaired, Number | loan			0
Non-agency residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Unrealized Gain Related To Non Credit Portion Of Other Than Temporary Impairments Included In Accumulated Other Comprehensive Income			$ 1,000,000
Unrealized Losses Related To Non Credit Portion Of Other Than Temporary Impairments Included In Accumulated Other Comprehensive Income				(2,000,000)
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net			8,000,000	0	0
Asset Backed Securities and Corporate Securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis			488,000,000	2,000,000	10,000,000
Available-for-sale Securities			406,000,000	1,000,000	7,000,000
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis			2,099,000,000	1,985,000,000
Available-for-sale Securities			2,162,000,000	2,114,000,000
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Assets Held by Insurance Regulators				15,009,000,000
Proceeds from available-for-sale investments, sold, matured or repaid:			4,947,000,000	$ 5,084,000,000	8,989,000,000
Commercial mortgage loans
Schedule of Available-for-sale Securities [Line Items]
Investments, Cost or Amortized, Percentage of Total				1.00%		3.00%
Loans and Leases Receivable, Ratio of Performing Loans to All Loans						100.00%
Loan to Value, Maximum Threshold						75.00%
Front Street RE (Cayman) Ltd.
Schedule of Available-for-sale Securities [Line Items]
Other than Temporary Impairment Losses, Investments			81,000,000
Other than Temporary Impairment Losses, Investments, Net of Reinsurance	$ 0		59,000,000
Salus Capital Partners L L C
Schedule of Available-for-sale Securities [Line Items]
Other than Temporary Impairment Losses, Investments			24,000,000
Other than Temporary Impairment Losses, Investments, Net of Reinsurance			13,000,000
Commitment to Invest
Variable Interest Entity [Line Items]
Unfunded investment commitment			$ 176,000,000
Commitment to Invest | Boardwalk I, L.P.
Variable Interest Entity [Line Items]
Period of commitment			3 years
Commitment to Invest | Crescent Capital BDC Inc.
Variable Interest Entity [Line Items]
Unfunded investment commitment									$ 75,000,000
Scenario, Forecast
Schedule of Available-for-sale Securities [Line Items]
Litigation Settlement, Amount		$ 18,000,000
Scenario, Forecast | Minimum
Schedule of Available-for-sale Securities [Line Items]
Litigation Settlement, Amount		15,000,000
Scenario, Forecast | Maximum
Schedule of Available-for-sale Securities [Line Items]
Litigation Settlement, Amount		$ 20,000,000
Bank Of America | Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Debt Maturities, Weighted Average Life			6 years
Salus Capital Partners L L C | VIE, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Maximum loss on VIE			$ 251,000,000	$ 304,000,000
Fifth Street Management LLC | VIE, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Maximum loss on VIE			57,000,000	30,000,000
Total fixed maturities | Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Proceeds from available-for-sale investments, sold, matured or repaid:			4,777,000,000	5,033,000,000	8,920,000,000
Gain on Sale of Investments			83,000,000	109,000,000	351,000,000
Loss on Sale of Investments			$ 72,000,000	$ 5,000,000	$ 19,000,000

Derivative Financial Instrume61

Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Derivative [Line Items]
Total asset derivatives	$ 271	$ 385
Total liability derivatives	2,154	1,932
Call options | Derivative investments
Derivative [Line Items]
Total asset derivatives	81	296
Call options | Funds withheld for reinsurance liabilities
Derivative [Line Items]
Total liability derivatives	5	23
Other derivatives and embedded derivatives | Other invested assets
Derivative [Line Items]
Total asset derivatives	21	13
Reinsurance related embedded derivative | Other assets:
Derivative [Line Items]
Total asset derivatives	168	76
FIA embedded derivatives | Contractholder funds:
Derivative [Line Items]
Total liability derivatives	2,149	1,908
Futures contracts | Other liabilities:
Derivative [Line Items]
Total liability derivatives	0	1
Not Designated as Hedging Instrument | Futures contracts | Derivative investments
Derivative [Line Items]
Total asset derivatives	$ 1	$ 0

Derivative Financial Instrume62

Derivative Financial Instruments - Schedule of Change in Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	$ 92	$ (42)	$ 6
Net investment (losses) gains:
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(8)	206	175
Call options | Net investment (losses) gains:
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(100)	220	152
Futures contracts | Net investment (losses) gains:
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(7)	26	17
Other derivatives and embedded derivatives | Net investment (losses) gains:
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	7	2	0
Reinsurance related embedded derivative | Net investment (losses) gains:
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	92	(42)	6
FIA embedded derivatives
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	$ 241	$ 363	$ (6)

Derivative Financial Instrume63

Derivative Financial Instruments - FGL's Exposure to Credit Loss on Call Options Held (Detail) - USD ($) $ in Millions		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Derivatives, Fair Value [Line Items]
Derivative Investments, Fair Value		$ 271	$ 385
Merrill Lynch
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	[1]	A/*/A
Deutsche Bank
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	[1]	A/A3/BBB+
Morgan Stanley
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	[1]	*/A1/A
Barclay's Bank
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	[1]	A/A2/A-
Derivatives For Trading And Investment | Not Designated as Hedging Instrument | Call options
Derivatives, Fair Value [Line Items]
Derivative Notional Amount		$ 9,193	7,603
Derivative Investments, Fair Value		81	296
Derivative Asset, Collateral, Obligation to Return Cash, Offset		7	188
Derivative Asset, Fair Value, Amount Offset Against Collateral		74	108
Derivatives For Trading And Investment | Not Designated as Hedging Instrument | Call options | Merrill Lynch
Derivatives, Fair Value [Line Items]
Derivative Notional Amount		2,233	2,240
Derivative Investments, Fair Value		16	93
Derivative Asset, Collateral, Obligation to Return Cash, Offset		0	53
Derivative Asset, Fair Value, Amount Offset Against Collateral		16	40
Derivatives For Trading And Investment | Not Designated as Hedging Instrument | Call options | Deutsche Bank
Derivatives, Fair Value [Line Items]
Derivative Notional Amount		2,482	2,810
Derivative Investments, Fair Value		26	108
Derivative Asset, Collateral, Obligation to Return Cash, Offset		0	72
Derivative Asset, Fair Value, Amount Offset Against Collateral		26	36
Derivatives For Trading And Investment | Not Designated as Hedging Instrument | Call options | Morgan Stanley
Derivatives, Fair Value [Line Items]
Derivative Notional Amount		4,086	2,295
Derivative Investments, Fair Value		35	85
Derivative Asset, Collateral, Obligation to Return Cash, Offset		7	63
Derivative Asset, Fair Value, Amount Offset Against Collateral		28	22
Derivatives For Trading And Investment | Not Designated as Hedging Instrument | Call options | Barclay's Bank
Derivatives, Fair Value [Line Items]
Derivative Notional Amount		392	258
Derivative Investments, Fair Value		4	10
Derivative Asset, Collateral, Obligation to Return Cash, Offset		0	0
Derivative Asset, Fair Value, Amount Offset Against Collateral		$ 4	$ 10
[1]	An * represents credit ratings that were not available.

Derivative Financial Instrume64

Derivative Financial Instruments - Narrative (Details) $ in Millions	12 Months Ended
	Sep. 30, 2015USD ($)loanContract	Sep. 30, 2014USD ($)Contract	Sep. 30, 2013USD ($)	Jun. 16, 2014USD ($)	Sep. 30, 2012USD ($)
Derivative [Line Items]
Level 3 fair value measurement, assets	$ 1,348	$ 1,292	$ 870		$ 238
Participating Loans Denominated in Canadian Dollar, Number of Loans | loan	4
Participating Loans Denominated in Canadian, Reimbursement Provision Included, Number of Loans | loan	2
Change in fair value of reinsurance related embedded derivative	$ 92	$ (42)	6
Participating Loans Denominated in Canadian, Reimbursement Provision Excluded, Number of Loans | loan	2
Futures contracts
Derivative [Line Items]
Number of instruments held | Contract	738	2,348
Collateral held	$ 3	$ 0
Other liabilities: | Not Designated as Hedging Instrument | Call options
Derivative [Line Items]
Collateral posted	136	72
Derivatives For Trading And Investment | Not Designated as Hedging Instrument | Call options
Derivative [Line Items]
Derivative Notional Amount	9,193	7,603
Collateral posted	7	188
Derivative Asset, Fair Value, Amount Offset Against Collateral	74	108
Cash and Cash Equivalents | Not Designated as Hedging Instrument | Call options
Derivative [Line Items]
Collateral posted	0	135
Other invested assets
Derivative [Line Items]
Level 3 fair value measurement, assets	23
Available-for-sale embedded derivative
Derivative [Line Items]
Level 3 fair value measurement, assets	10	11	0
Merrill Lynch | Derivatives For Trading And Investment | Not Designated as Hedging Instrument | Call options
Derivative [Line Items]
Derivative Notional Amount	2,233	2,240
Collateral posted	0	53
Derivative Asset, Fair Value, Amount Offset Against Collateral	16	40
Net investment (losses) gains:
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(8)	206	175
Net investment (losses) gains: | Other derivatives and embedded derivatives
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	7	2	0
Net investment (losses) gains: | Foreign exchange embedded derivative
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	1	(2)	0
Net investment (losses) gains: | Call options
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(100)	220	152
Net investment (losses) gains: | Futures contracts
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(7)	26	$ 17
Net investment (losses) gains: | Other invested assets | Other derivatives and embedded derivatives
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(1)	$ (2)
Salus Participations
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	10
Salus Participations | Net investment (losses) gains:
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	$ 10
Other Investments Asset | Other invested assets
Derivative [Line Items]
Fixed maturities securities, available-for-sale, at fair value				$ 35
Other Investments Asset | Other invested assets | Other derivatives and embedded derivatives
Derivative [Line Items]
Derivative Notional Amount				$ 11

Fair Value of Financial Instr65

Fair Value of Financial Instruments - Assets and Liabilities Carrying at Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 18,366	$ 18,133
Derivative investments	82	296
Total financial assets at fair value	1,348	1,292
Commercial mortgage loans	491	136
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	502	576
Equity securities - available-for-sale	26	59
Derivative investments	0	0
Other invested assets	0	0
Total financial assets at fair value	588	751
Financial Liabilities Fair Value Disclosure	0	0
Commercial mortgage loans	0	0
Policy loans, included in other invested assets	0	0
Limited partnership investment, included in other invested assets	0
Related party loans	0	0
Total	0	0
Investment contracts, included in contractholder funds	0	0
Debt	0	0
Total	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	560	599
Derivative investments	82	296
Other invested assets	11	2
Total financial assets at fair value	17,322	17,264
Financial Liabilities Fair Value Disclosure	5	23
Commercial mortgage loans	0	0
Policy loans, included in other invested assets	0	0
Limited partnership investment, included in other invested assets	0
Related party loans	0	0
Total	0	0
Investment contracts, included in contractholder funds	0	0
Debt	312	317
Total	312	317
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	34	40
Derivative investments	0	0
Other invested assets	129	224
Total financial assets at fair value	1,348	1,292
Financial Liabilities Fair Value Disclosure	2,149	1,908
Commercial mortgage loans	490	136
Policy loans, included in other invested assets	9	11
Limited partnership investment, included in other invested assets	4
Related party loans	78	113
Total	581	260
Investment contracts, included in contractholder funds	14,126	13,109
Debt	0	0
Total	14,126	13,109
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	502	576
Equity securities - available-for-sale	620	698
Derivative investments	82	296
Other invested assets	140	226
Total financial assets at fair value	19,258	19,307
Financial Liabilities Fair Value Disclosure	2,154	1,931
Commercial mortgage loans	490	136
Policy loans, included in other invested assets	9	11
Limited partnership investment, included in other invested assets	4
Related party loans	78	113
Total	581	260
Investment contracts, included in contractholder funds	14,126	13,109
Debt	312	317
Total	14,438	13,426
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	502	576
Equity securities - available-for-sale	620	698
Derivative investments	82	296
Other invested assets	140	226
Total financial assets at fair value	19,258	19,307
Financial Liabilities Fair Value Disclosure	2,154	1,931
Commercial mortgage loans	491	136
Policy loans, included in other invested assets	11	11
Limited partnership investment, included in other invested assets	4
Related party loans	78	113
Total	584	260
Investment contracts, included in contractholder funds	15,621	14,556
Debt	300	300
Total	15,921	14,856
Reinsurance related embedded derivative | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	0	0
Reinsurance related embedded derivative | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	168	76
Reinsurance related embedded derivative | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	0	0
Reinsurance related embedded derivative | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	168	76
Reinsurance related embedded derivative | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	168	76
Fixed indexed annuities | 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 indexed annuities | 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 indexed annuities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,149	1,908
Fixed indexed annuities | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,149	1,908
Fixed indexed annuities | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,149	1,908
Derivative instruments-futures 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
Derivative instruments-futures 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
Derivative instruments-futures 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
Derivative instruments-futures contracts | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	1
Derivative instruments-futures 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	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	5	22
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	0
Call options | Fair 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	5	22
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	5	22
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,106	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	2,068	1,958
Asset-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	38	74
Asset-backed securities | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,106	2,032
Asset-backed securities | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,106	2,032
Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	882	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	738	554
Commercial mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	144	83
Commercial mortgage-backed securities | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	882	637
Commercial mortgage-backed securities | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	882	637
Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	9,530	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	8,566	8,945
Corporates | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	964	834
Corporates | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	9,530	9,779
Corporates | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	9,530	9,779
Hybrids
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,214	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	1,214	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 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,214	1,316
Hybrids | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,214	1,316
States, municipalities and political subdivisions | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
States, municipalities and political subdivisions | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,569	1,223
States, municipalities and political subdivisions | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	39	37
States, municipalities and political subdivisions | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,608	1,260
States, municipalities and political subdivisions | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,608	1,260
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,162	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	2,162	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 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,162	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	2,162	2,114
U.S. Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	244	297
U.S. Government | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	60	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 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	244	297
U.S. Government | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 244	$ 297

Fair Value of Financial Instr66

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	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 1,348	$ 1,292
Liabilities, Fair Value Disclosure	2,149	1,908
Market Approach | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 10	$ 74
Valuation Technique	Broker-quoted	Broker-quoted
Market Approach | Commercial mortgage-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 144	$ 83
Valuation Technique	Broker-quoted	Broker-quoted
Market Approach | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 898	$ 832
Valuation Technique	Broker-quoted	Broker-quoted
Market Approach | States, municipalities and political subdivisions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 39	$ 37
Valuation Technique	Broker-quoted	Broker-quoted
Fair Value Inputs Quoted Prices	111.47%	106.64%
Market Approach | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 25	$ 6
Valuation Technique	Net Asset Value	Broker-quoted
Fair Value Inputs Quoted Prices		99.75%
Fair Value Inputs Matrix Pricing	100.00%
Market Approach | 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
Income Approach Valuation Technique | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 66	$ 2
Valuation Technique	Matrix Pricing	Matrix Pricing
Fair Value Inputs Matrix Pricing		142.30%
Income Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 6	$ 34
Valuation Technique	Matrix Pricing	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	$ 10	$ 11
Valuation Technique	Black Scholes Model	Black Scholes Model
Fair Value Inputs Black Scholes Model	100.00%	100.00%
Fixed indexed annuities | Income Approach Valuation Technique
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Liabilities, Fair Value Disclosure	$ 2,149	$ 1,908
Valuation Technique	Discounted Cash Flow	Discounted Cash Flow
Fair Value Inputs Mortality Multiplier	80.00%	80.00%
Fair Value Inputs Non Performance Spread	25.00%	0.25%
Minimum | Market Approach | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Quoted Prices	100.37%	95.45%
Minimum | Market Approach | Commercial mortgage-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Quoted Prices	99.32%	105.25%
Minimum | Market Approach | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Quoted Prices	56.75%	61.67%
Minimum | Market Approach | Other invested assets
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Input, Sales Agreement	30.00%
Minimum | Income Approach Valuation Technique | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Matrix Pricing	104.58%
Minimum | Fixed indexed annuities | Income Approach Valuation Technique
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Market Value Of Option	0.00%	0.00%
Fair Value Inputs, Swap Rates	1.38%	1.93%
Fair Value Inputs Surrender Rates	0.50%	0.50%
Weighted Average | Market Approach | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Quoted Prices	102.42%	99.26%
Weighted Average | Market Approach | Commercial mortgage-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Quoted Prices	110.95%	121.00%
Weighted Average | Market Approach | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Quoted Prices	100.69%	119.75%
Weighted Average | Income Approach Valuation Technique | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Matrix Pricing	110.03%
Weighted Average | Fixed indexed annuities | Income Approach Valuation Technique
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Market Value Of Option	1.01%	49.82%
Fair Value Inputs, Swap Rates	1.69%	2.64%
Fair Value Inputs Surrender Rates	10.13%	75.00%
Maximum | Market Approach | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Quoted Prices	107.84%	109.26%
Maximum | Market Approach | Commercial mortgage-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Quoted Prices	119.00%	118.29%
Maximum | Market Approach | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Quoted Prices	113.83%	100.04%
Maximum | Market Approach | Other invested assets
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Input, Sales Agreement	34.00%
Maximum | Income Approach Valuation Technique | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Matrix Pricing	142.43%
Maximum | Fixed indexed annuities | Income Approach Valuation Technique
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Market Value Of Option	33.83%	3.37%
Fair Value Inputs, Swap Rates	2.00%	2.29%
Fair Value Inputs Surrender Rates	75.00%	7.00%
Insurance Subsidiary | Market Approach | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 28
Valuation Technique	Third-Party Valuation
Fair Value Inputs Quoted Prices	41.80%
Fair Value Inputs, Discount Rate	15.00%
Fair Value Inputs, Probability of Default	2.00%
Fair Value Input Recovery Rate	30.00%
Insurance Subsidiary | Market Approach | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 3
Valuation Technique	Market-approach
Insurance Subsidiary | Market Approach | Other invested assets
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 104
Valuation Technique	Market Pricing
Fair Value Inputs Quoted Prices	100.00%	100.00%
Insurance Subsidiary | Income Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs, Discount Rate	15.00%
Fair Value Input Collateralized Loan Obligation Equity Percentage	41.80%
Fair Value Input Recovery Rate	30.00%
Fair Value Input Yield	11.00%
Insurance Subsidiary | Minimum | Market Approach | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs, Other Loan Recoveries	4.00%
Insurance Subsidiary | Minimum | Income Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Input Yield		8.31%
Insurance Subsidiary | Weighted Average | Income Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Input Yield		9.81%
Insurance Subsidiary | Maximum | Market Approach | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs, Other Loan Recoveries	100.00%

Fair Value of Financial Instr67

Fair Value of Financial Instruments - Changes to Fair Value of Financial Instruments Level 3 (Detail) - USD ($) $ in Millions		12 Months Ended
		Sep. 30, 2015		Sep. 30, 2014	Sep. 30, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period		$ 1,292		$ 870	$ 238
Total Gains (Losses) Included in Earnings		(103)		0	0
Total Gains (Losses) Included in AOCI		7		20	(11)
Purchases		451		773	856
Sales		(16)		(12)	(29)
Settlements		(230)		(132)	(27)
Net transfer In (Out) of Level 3 (a)	[1]	(53)		(227)	(157)
Balance at End of Period		1,348		1,292	870
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period		1,908		1,545	1,551
Total Gains (Losses) Included in Earnings		241		363	(6)
Total Gains (Losses) Included in AOCI		0		0	0
Purchases		0		0	0
Sales		0		0	0
Settlements		0		0	0
Net transfer In (Out) of Level 3	[1]	0		0	0
Balance at End of Period		2,149		1,908	1,545
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		1,908		1,545	1,551
Total Gains (Losses) Included in Earnings		241		363	(6)
Total Gains (Losses) Included in AOCI		0		0	0
Purchases		0		0	0
Sales		0		0	0
Settlements		0		0	0
Net transfer In (Out) of Level 3	[1]	0		0	0
Balance at End of Period		2,149		1,908	1,545
Available For Sale Embedded Derivatives [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period				0	0
Total Gains (Losses) Included in Earnings					0
Total Gains (Losses) Included in AOCI					0
Purchases					0
Sales					0
Settlements					0
Net transfer In (Out) of Level 3	[1]				0
Balance at End of Period					0
Contingent Purchase Price
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period				0	41
Total Gains (Losses) Included in Earnings					0
Total Gains (Losses) Included in AOCI					0
Purchases					0
Sales					0
Settlements					0
Net transfer In (Out) of Level 3 (a)					(41)
Balance at End of Period					0
Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period		74		246	16
Total Gains (Losses) Included in Earnings		(37)		0	0
Total Gains (Losses) Included in AOCI		3		(1)	2
Purchases		73		36	247
Sales		(15)		0	(8)
Settlements		(31)		0	0
Net transfer In (Out) of Level 3 (a)	[1]	(29)		(207)	(11)
Balance at End of Period		38		74	246
Commercial mortgage-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period		83		6	5
Total Gains (Losses) Included in Earnings		0		0	0
Total Gains (Losses) Included in AOCI		(2)		0	0
Purchases		63		83	1
Sales		0		0	0
Settlements		0		0	0
Net transfer In (Out) of Level 3 (a)	[1]	0		(6)	0
Balance at End of Period		144		83	6
Corporates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period		834		461	135
Total Gains (Losses) Included in Earnings		4		0	0
Total Gains (Losses) Included in AOCI		10		19	(13)
Purchases		202		382	410
Sales		(1)		(12)	(10)
Settlements		(61)		(2)	(27)
Net transfer In (Out) of Level 3 (a)	[1]	(24)		(14)	(34)
Balance at End of Period		964		834	461
Hybrids
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period				0	9
Total Gains (Losses) Included in Earnings					0
Total Gains (Losses) Included in AOCI					0
Purchases					0
Sales					0
Settlements					0
Net transfer In (Out) of Level 3 (a)					(9)
Balance at End of Period					0
States, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period		37		0
Total Gains (Losses) Included in Earnings		0		0
Total Gains (Losses) Included in AOCI		2		2
Purchases		0		35
Sales		0		0
Settlements		0		0
Net transfer In (Out) of Level 3 (a)		0	[1]	0
Balance at End of Period		39		37	0
Equities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period		40		0	0
Total Gains (Losses) Included in Earnings		(30)		0	0
Total Gains (Losses) Included in AOCI		(1)		1	0
Purchases		25		39	11
Sales		0		0	(11)
Settlements		0		0	0
Net transfer In (Out) of Level 3 (a)	[1]	0		0	0
Balance at End of Period		34		40	0
Available-for-sale embedded derivative
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period		11		0
Total Gains (Losses) Included in Earnings		(1)		0
Total Gains (Losses) Included in AOCI		0		0
Purchases		0		11
Sales		0		0
Settlements		0		0
Net transfer In (Out) of Level 3 (a)		0	[1]	0
Balance at End of Period		10		11	0
Other invested assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period				0	32
Total Gains (Losses) Included in Earnings					0
Total Gains (Losses) Included in AOCI					0
Purchases					30
Sales					0
Settlements					0
Net transfer In (Out) of Level 3 (a)					(62)
Balance at End of Period					0
Salus participations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period		213		157	0
Total Gains (Losses) Included in Earnings		(39)		0	0
Total Gains (Losses) Included in AOCI		(5)		(1)	0
Purchases		88		187	157
Sales		0		0	0
Settlements		(138)		(130)	0
Net transfer In (Out) of Level 3 (a)		0	[1]	0	0
Balance at End of Period		$ 119		$ 213	$ 157
[1]	The net transfers out of Level 3 during the year ended September 30, 2015 were exclusively to Level 2.

Fair Value of Financial Instr68

Fair Value of Financial Instruments - Narrative (Detail)		12 Months Ended
		Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2013USD ($)	Sep. 30, 2015commercial_loan	Sep. 30, 2015$ / Contract	Sep. 30, 2015payment	Sep. 30, 2015loan	Sep. 30, 2015credit_quality_event
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial Loans on Real Estate, Number of Loans | commercial_loan					49
Financing Receivable, Number of Loans Past Due							0	0
Financing Receivable, Number of Indicators Related to Credit Quality | credit_quality_event									0
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount		$ 0	$ 0	$ 79
Net transfer In (Out) of Level 3 (a)	[1]	(53,000,000)	(227,000,000)	(157,000,000)
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net transfer In (Out) of Level 3 (a)	[1]	$ (29,000,000)	$ (207,000,000)	(11,000,000)
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net transfer In (Out) of Level 3 (a)				$ (62,000,000)
Market Approach | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Input, Loan Duration		1 year
Income Approach Valuation Technique | Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Price Risk Option Strike Price | $ / Contract						0
[1]	The net transfers out of Level 3 during the year ended September 30, 2015 were exclusively to Level 2.

Intangibles - Summary of Change

Intangibles - Summary of Changes in Carrying Amounts of Intangible Assets Including DAC, VOBA , and DSI (Detail) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Movement in Present Value of Future Insurance Profits [Roll Forward]
Value of Business Acquired (VOBA)	$ 59	$ 192	$ 104
Deferrals	0	0	0
Present Value of Future Insurance Profits, Unrealized Investment Losses	165	(83)	258
Value of Business Acquired (VOBA)	187	59	192
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Costs	456	331	169
Deferred Policy Acquisition Costs, Period Increase (Decrease)	317	238	147
Deferred Policy Acquisition Cost, Unrealized Investment Gain (Loss)	55	(74)	69
Deferred Policy Acquisition Costs	801	456	331
Deferred Policy Acquisition Costs and Present Value of Future Profits [Abstract]
Deferred Policy Acquisition Costs and Value of Business Acquired	515	523	273
Deferred Policy Acquisition Costs and Present Value of Future Profits, Additions	317	238	147
Deferred Policy Acquisition Cost and Value of Business Acquired, Unrealized Investment Gain (Loss)	220	(157)	327
Deferred Policy Acquisition Costs and Value of Business Acquired	988	515	523
Accumulated amortization	391	354	304
Unlocking
Movement in Present Value of Future Insurance Profits [Roll Forward]
Present Value of Future Insurance Profits, Amortization Expense	19	22	36
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Amortization Expense	4	3	7
Deferred Policy Acquisition Costs and Present Value of Future Profits [Abstract]
Deferred Policy Acquisition Costs and Present Value of Future Profits, Amortization	23	25	43
Interest
Movement in Present Value of Future Insurance Profits [Roll Forward]
Present Value of Future Insurance Profits, Amortization Expense	12	15	22
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Amortization Expense	22	14	10
Deferred Policy Acquisition Costs and Present Value of Future Profits [Abstract]
Deferred Policy Acquisition Costs and Present Value of Future Profits, Amortization	34	29	32
Other amortization
Movement in Present Value of Future Insurance Profits [Roll Forward]
Present Value of Future Insurance Profits, Amortization Expense	(68)	(87)	(195)
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Amortization Expense	(53)	(56)	(64)
Deferred Policy Acquisition Costs and Present Value of Future Profits [Abstract]
Deferred Policy Acquisition Costs and Present Value of Future Profits, Amortization	$ (121)	$ (143)	(259)
Restatement Adjustment | Adjustment for Correction of Elimination Entry
Movement in Present Value of Future Insurance Profits [Roll Forward]
Present Value of Future Insurance Profits, Amortization Expense			(33)
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Amortization Expense			(7)
Deferred Policy Acquisition Costs and Present Value of Future Profits [Abstract]
Deferred Policy Acquisition Costs and Present Value of Future Profits, Amortization			$ (40)

Intangibles - Estimated Amortiz

Intangibles - Estimated Amortization Expense for VOBA in Future Fiscal Periods (Detail) $ in Millions	12 Months Ended
	Sep. 30, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,015	$ 31
2,016	28
2,017	24
2,018	19
2,019	15
Thereafter	$ 70

Intangibles - Narrative (Detail

Intangibles - Narrative (Detail) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
VOBA
Finite-Lived Intangible Assets [Line Items]
Cumulative adjustments for net unrealized investment gains	$ 1
Cumulative Adjustments For Net Unrealized Investment Loss		$ (164)
DAC
Finite-Lived Intangible Assets [Line Items]
Cumulative adjustments for net unrealized investment gains	(1)
Cumulative Adjustments For Net Unrealized Investment Loss		(56)
Deferred sales inducements, net of shadow adjustments	$ 59	$ 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 11 months 19 days

Debt - Narrative (Detail)

Debt - Narrative (Detail) - USD ($)	Aug. 26, 2014	Mar. 31, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Line of Credit Facility [Line Items]
Payments of Debt Issuance Costs			$ 0	$ 4,000,000	$ 10,000,000
Debt Instrument [Line Items]
Debt			$ 300,000,000	$ 300,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Expiration Period on Line of Credit	3 years
Maximum Borrowing Capacity	$ 150,000,000
Line of Credit Facility, Interest Rate at Period End			5.25%
Federal Funds Rate
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.50%
Eurodollar
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.00%
6.375% Senior Notes, Due April 1, 2021 | Senior Notes
Debt Instrument [Line Items]
Debt		$ 300,000,000
Long-term debt, interest rate		6.375%
6.375% Senior Notes, Due April 1, 2021 | Senior Notes | Other assets:
Debt Instrument [Line Items]
Debt Issuance Cost		$ 10,000,000

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Debt Instrument [Line Items]
Debt	$ 300	$ 300
Interest Expense, Debt, Excluding Amortization	19	19	$ 10
Amortization of Financing Costs	4	4	2
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Line of Credit	0	0
Interest Expense, Debt, Excluding Amortization	0	0	0
Amortization of Financing Costs	$ 1	$ 0	$ 0

Equity - Narrative (Details)

Equity - Narrative (Details) $ / shares in Units, $ in Millions	Nov. 12, 2015$ / shares	Jul. 31, 2015$ / shares	May. 01, 2015$ / shares	Feb. 10, 2015$ / shares	Nov. 18, 2014$ / shares	Aug. 05, 2014$ / shares	May. 06, 2014$ / shares	Mar. 03, 2014$ / shares	Dec. 18, 2013USD ($)	Dec. 12, 2013shares	Nov. 26, 2013$ / sharesshares	Aug. 26, 2013shares	Jun. 30, 2015USD ($)shares	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2014USD ($)$ / sharesshares	Sep. 30, 2013USD ($)	Sep. 02, 2014shares	Nov. 25, 2013shares
Class of Stock [Line Items]
Preferred Stock, shares outstanding														0	0
Stock issued during period (in shares)												10,000
Common stock, par value (in dollars per share) | $ / shares											$ 0.01			$ 0.01	$ 0.01
Common stock, shares authorized											500,000,000			500,000,000	500,000,000			100,000
Common stock split ratio											4,700
Stock issued in stock split (in shares)											47,000,000
Underwriter option to purchase common stock (in shares)										1,463,000
Net proceeds from the IPO | $									$ 173
Dividends | $									$ 43					$ 15	$ 55	$ 94
Preferred Stock, shares authorized														50,000,000	50,000,000
Stock Repurchased During Period, Shares													512,000
Stock Repurchased During Period, Value | $														$ 11
Shareholders' Disclosure, Common Stock, Shares, Outstanding														47,000,000
Shareholders' disclosure, ownership percentage														81.00%
Cash dividend per common share | $ / shares		$ 0.065	$ 0.065	$ 0.065	$ 0.065	$ 0.065	$ 0.065	$ 0.065
Common Stock
Class of Stock [Line Items]
Stock issued during period (in shares)										9,750,000
Director | Common Stock
Class of Stock [Line Items]
Stock issued during period (in shares)										58,000
September 2014 Repurchase Plan
Class of Stock [Line Items]
Stock Repurchase Program, Shares Authorized																	500,000
Stock Repurchased During Period, Shares													500,000
Stock Compensation Plan
Class of Stock [Line Items]
Stock Repurchased During Period, Shares													12,000
Treasury Stock
Class of Stock [Line Items]
Stock Repurchased During Period, Value | $													$ 11	$ 11
Subsequent Event
Class of Stock [Line Items]
Cash dividend per common share | $ / shares	$ 0.065
Subsidiaries
Class of Stock [Line Items]
Restricted Net Assets for Consolidated Subsidiaries | $														$ 1,343
Restricted Net Assets For Consolidated Subsidiaries, Pecentage of Stockholders Equity														92.00%

Equity - Schedule of Dividends

Equity - Schedule of Dividends (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	Sep. 02, 2014	Aug. 05, 2014	Jun. 02, 2014	May. 06, 2014	Mar. 03, 2014	Aug. 31, 2015	Mar. 31, 2014	Sep. 30, 2015	Aug. 17, 2015	May. 18, 2015	Feb. 23, 2015	Dec. 01, 2014	Sep. 30, 2014	Aug. 18, 2014	May. 19, 2014	Mar. 17, 2014
Equity [Abstract]
Common stock, shares outstanding														58,870,823	57,976,000	57,932,000	57,975,000	58,279,000	58,442,721	58,271,000	58,271,000	58,271,000
Cash dividend per common share	$ 0.065	$ 0.065		$ 0.065		$ 0.065		$ 0.065		$ 0.065	$ 0.065
Payments of Ordinary Dividends, Common Stock		$ 4	$ 4		$ 4		$ 4		$ 4			$ 4	$ 4

Stock Compensation - Schedule o

Stock Compensation - Schedule of Stock Based Compensation Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	$ 19	$ 17	$ 6
Related tax benefit	7	6	2
Net stock compensation expense	12	11	4
FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	10	3	0
FGL Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	1	0	0
FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	6	1	0
FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	3	1	0
FGL Plan | Unrestricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	1	0
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	9	14	6
2011 Stock Incentive Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	1	6	3
2011 Dividend Equivalent Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	1	1
2011 Stock Incentive Plan, Amended and Restated | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	5	5	1
2011 Stock Incentive Plan, Amended and Restated | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	2	2	1
2012 Dividend Equivalent Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	$ 1	$ 0	$ 0

Stock Compensation - Summary of

Stock Compensation - Summary of unrecognized stock compensation expense (Details) $ in Millions	12 Months Ended
	Sep. 30, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 11
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
FGLH Plan
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	$ 0
Weighted Average Recognition Period in Years	0 years
2011 Stock Incentive Plan, Amended and Restated | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 0
Weighted Average Recognition Period in Years	0 years
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

Stock Compensation - Summary 78

Stock Compensation - Summary of Stock Options Outstanding and Related Activity (Detail) - $ / shares	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
FGL Plan
Options (in shares):
Stock options outstanding at beginning of period	242,000
Granted	206,000
Exercised	(113,000)
Forfeited or expired	(18,000)
Stock options outstanding at end of period	317,000	242,000
Exercisable at end of period	111,000
Vested or expected to vest at end of period	310,000
Weighted Average Exercise Price (in dollars per share):
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)	20.73
Stock options outstanding at end of period (USD per share)	21.60	$ 17
Exercisable at end of period (USD per share)	22.04
Vested or expected to vest at end of period (USD per share)	$ 21.58
FGLH Plan
Options (in shares):
Stock options outstanding at beginning of period	225,000
Granted	0	0	195,000
Exercised	(137,000)
Forfeited or expired	(1,000)
Stock options outstanding at end of period	87,000	225,000
Exercisable at end of period	61,000
Vested or expected to vest at end of period	86,000
Weighted Average Exercise Price (in dollars per share):
Stock options outstanding at beginning of period (USD per share)	$ 46.19
Granted (USD per share)	0
Exercised (USD per share)	46.89
Forfeited or expired (USD per share)	49.45
Stock options outstanding at end of period (USD per share)	45.04	$ 46.19
Exercisable at end of period (USD per share)	43.11
Vested or expected to vest at end of period (USD per share)	$ 45.01

Stock Compensation - Assumption

Stock Compensation - Assumptions Used in Determination of Grant Date Fair Values Using Black-Scholes Option Pricing Model (Detail) - $ / shares	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (USD per share)	$ 4.96	$ 3.76
Expected option term	4 years 6 months	4 years 6 months
Volatility	25.00%	25.00%
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (USD per share)	$ 74.99	$ 50.63	$ 3.85
Risk-free interest rate			0.80%
Assumed dividend yield	1.16%	1.20%	6.00%
Expected option term			4 years 6 months
Volatility	25.00%	25.00%	27.00%
Minimum | FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (USD per share)	$ 4.23	$ 3.76
Risk-free interest rate	1.41%	1.40%
Assumed dividend yield	1.18%	1.30%
Minimum | FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.48%	0.65%
Expected option term	1 year 6 months	2 years
Maximum | FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (USD per share)	$ 5.02	$ 5.26
Risk-free interest rate	1.50%	1.41%
Assumed dividend yield	1.19%	1.50%
Maximum | FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.74%	1.02%
Expected option term	2 years 3 months	2 years 9 months
CEO | FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (USD per share)	$ 2.53
Risk-free interest rate	0.20%
Assumed dividend yield	1.20%
Expected option term	9 months
Volatility	25.00%
FHLG
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 24.54	$ 21.35
FGL
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 122.02	$ 98.28

Stock Compensation - Summary 80

Stock Compensation - Summary of Restricted Stock and Restricted Stock Units Outstanding and Related Activity (Detail) - $ / shares shares in Thousands	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
FGL Plan | Restricted stock units
Shares:
Restricted shares outstanding at beginning of period	172
Granted	325
Vested	(231)
Forfeited	(20)
Restricted shares outstanding at end of period	246	172
Weighted Average Grant Date Fair Value (in dollars per share):
Average grant date fair value outstanding at beginning of period (USD per share)	$ 18.18
Average grant date fair value, Granted (USD per share)	23.66
Average grant date fair value, Exercised (USD per share)	21.60
Average grant date fair value, Forfeited or Expired (USD per share)	21.67
Average grant date fair value outstanding at end of period (USD per share)	$ 21.92	$ 18.18
FGL Plan | Performance Shares
Shares:
Restricted shares outstanding at beginning of period	578
Granted	54
Vested	(45)
Forfeited	(72)
Restricted shares outstanding at end of period	515	578
Weighted Average Grant Date Fair Value (in dollars per share):
Average grant date fair value outstanding at beginning of period (USD per share)	$ 17.37
Average grant date fair value, Granted (USD per share)	19.68
Average grant date fair value, Exercised (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	$ 17.37
FGLH Plan | Restricted stock units
Shares:
Restricted shares outstanding at beginning of period	26
Granted	0	0	53
Vested	(14)
Forfeited	(1)
Restricted shares outstanding at end of period	11	26
Weighted Average Grant Date Fair Value (in dollars per share):
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	$ 0	$ 49.58
Average grant date fair value, Exercised (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	$ 49.55

Stock Compensation - Narrative

Stock Compensation - Narrative (Details) - USD ($)	Feb. 11, 2015	Nov. 19, 2014	Oct. 06, 2014	Feb. 11, 2014	Mar. 31, 2015	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2012	Nov. 19, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Authorized							1,336,000				2,838,000
Related tax benefit							$ 7,000,000	$ 6,000,000	$ 2,000,000
FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted							206,000
Granted (USD per share)							$ 4.96	$ 3.76
FGL Plan | Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Outstanding, Intrinsic Value							$ 1,000,000
Options, Exercisable, Intrinsic Value							0
Aggregate intrinsic value of options							$ 1,000,000
Weighted average contractual term, outstanding							4 years
Weighted average contractual term, exercisable							2 years
Weighted average contractual term, vested and expected to vest							4 years
Options, Exercises in Period, Intrinsic Value							$ 1,000,000	$ 0	0
Cash received from options							2,000,000	0	0
Related tax benefit							$ 0	0	$ 0
FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants							325,000
Option fair value at grant date							$ 7,000,000	$ 3,000,000
Vested							231,000
Average grant date fair value, Granted (USD per share)							$ 23.66
FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants							54,000
Vested							45,000
Average grant date fair value, Granted (USD per share)							$ 19.68
FGL Plan | Unrestricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option fair value at grant date	$ 1,000,000		$ 0
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted							0	0	195,000
Award Vesting Period								3 years
Granted (USD per share)							$ 74.99	$ 50.63	$ 3.85
FGLH Plan | Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Outstanding, Intrinsic Value								$ 7,000,000
Options, Exercisable, Intrinsic Value								5,000,000
Aggregate intrinsic value of options								7,000,000
Options, Exercises in Period, Intrinsic Value								$ 9,000,000	$ 6,000,000	$ 1,000,000
Weighted average remaining term								4 years	4 years	4 years
FGLH Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period								3 years
Restricted stock unit grants							0	0	53,000
Vested							14,000
Average grant date fair value, Granted (USD per share)							$ 0	$ 0	$ 49.58
Cash paid for units in lieu of shares								$ 2,000,000	$ 2,000,000	$ 0
FGLH Plan | Dividend Equivalent Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash paid for units in lieu of shares								$ 1,000,000	$ 3,000,000	$ 0
Directors, Officers, and Other Key Employees | FGL Plan | Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted							206,000	249,000
Award Vesting Period				3 years
Fair value at grant date							$ 1,000,000	$ 1,000,000
Directors, Officers, and Other Key Employees | FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period							3 years
Restricted stock unit grants							173,000	171,000
CEO | FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated compensation cost							$ 2,000,000
Granted (USD per share)							$ 2.53
CEO | FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture of awards, percent					66.70%
Officer | FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants							12,000	8,000
Officer | FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value at grant date							$ 0	$ 1,000,000
Restricted stock unit grants							32,000	541,000
Option fair value at grant date							$ 1,000,000	$ 9,000,000
Director | FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants							140,000
Option fair value at grant date		$ 3,000,000
Director | FGL Plan | Unrestricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants	58,000		9,000
Chief Financial Officer | FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested							14,000	44,000
Minimum | FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (USD per share)							$ 4.23	$ 3.76
Minimum | Officer | FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			0.00%
Maximum | FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (USD per share)							$ 5.02	$ 5.26
Maximum | Officer | FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			200.00%
Annual Performance Result | Officer | FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage						50.00%
1st anniversary | FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		20.00%
2nd anniversary | FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		50.00%
3rd anniversary | FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		30.00%

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Before Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Income Tax Disclosure [Abstract]
United States	$ 182	$ 189	$ 509
Outside the United States	0	0	(1)
Income before income taxes	$ 182	$ 189	$ 508

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Current:
Federal	$ (14)	$ (51)	$ 27
State	0	0	0
Total current	(14)	(51)	27
Deferred:
Federal	(50)	25	(187)
State	0	0	0
Total deferred	(50)	25	(187)
Reported income tax (expense)/benefit	$ (64)	$ (26)	$ (160)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Income Tax Disclosure [Abstract]
Expected income tax (expense)/benefit at Federal statutory rate	$ (64)	$ (66)	$ (178)
Tax effect of disregarded entities	0	0	2
Valuation allowance for deferred tax assets	(1)	40	19
Amortization of low income housing tax credits	(1)	0	0
Benefit on LIHTC under proportional amortization method	1	0	0
Other	1	0	(3)
Reported income tax (expense)/benefit	$ (64)	$ (26)	$ (160)
Effective tax rate	35.00%	14.00%	31.00%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Net operating loss, credit and capital loss carryforwards	$ 169	$ 184
Insurance reserves and claim related adjustments	424	454
Investments	24	0
Other	32	43
Valuation allowance	(120)	(119)
Total deferred tax assets	529	562
Value of business acquired	(65)	(21)
Investments	0	(310)
Deferred acquisition costs	(209)	(90)
Other	(27)	(4)
Total deferred tax liabilities	(301)	(425)
Net deferred tax assets and liabilities	$ 228	$ 137

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Detail)	11 Months Ended	12 Months Ended
	Aug. 26, 2013USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2013USD ($)	Dec. 31, 2012tax_filing	Sep. 27, 2013USD ($)
Tax Credit Carryforward [Line Items]
Income tax expense		$ 64,000,000	$ 26,000,000	$ 160,000,000
Allowable Net Operating Losses, Capital Losses, and Tax Credits Acquired During Business Combination		$ 5,000,000
Federal Tax Rate		35.00%
Effective tax rate		35.00%	14.00%	31.00%
Valuation Allowance, Deferred Tax Asset, Change in Amount		$ (1,000,000)	$ 40,000,000	$ 19,000,000
Proceeds and Excess Tax Benefit from Share-based Compensation		1,000,000
Valuation allowance		(120,000,000)	(119,000,000)
Unrealized Built-in Gain on Securities Available for Sale		100,000,000
Unrealized Built-in Gain on Securities Available for Sale, Amount Realized in Period		(100,000,000)
Income Tax Expense (Benefit) on Unrealized Built in Gain on Securities Available for Sale		35,000,000
Operating Loss Carryforwards		92,000,000	93,000,000
Due to Affiliates, Accrued Taxes Payable		1,000,000	2,000,000
Unrecognized Tax Benefits		0	0
Capital Loss Carryforward
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount		217,000,000	259,000,000			$ 350,000,000
Investment Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount						54,000,000
Low Income Housing Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount		54,000,000	54,000,000
Alternative Minimum Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount		6,000,000	6,000,000			$ 6,000,000
Tax Year 2015 | Capital Loss Carryforward
Tax Credit Carryforward [Line Items]
Tax Credit Carryforward, Amount		211,000,000
Life Company Capital Loss Carryforwards
Tax Credit Carryforward [Line Items]
Valuation Allowance, Deferred Tax Asset, Change in Amount		4,000,000	43,000,000	21,000,000
Valuation allowance		(74,000,000)	(78,000,000)
Non-Life Company Capital Loss Carryforwards
Tax Credit Carryforward [Line Items]
Valuation Allowance, Deferred Tax Asset, Change in Amount		5,000,000	3,000,000	$ 2,000,000
Valuation allowance		$ (46,000,000)	$ (41,000,000)
Front Street RE (Cayman) Ltd.
Tax Credit Carryforward [Line Items]
Number of Required Standalone Tax Filings | tax_filing					5
Pro Forma
Tax Credit Carryforward [Line Items]
Income tax expense	$ 2,000,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Investment Commitments (Details) - Commitment to Invest $ in Millions	Sep. 30, 2015USD ($)
Other Commitments [Line Items]
Unfunded investment commitment	$ 176
Other invested assets
Other Commitments [Line Items]
Unfunded investment commitment	108
Commercial mortgage loans
Other Commitments [Line Items]
Unfunded investment commitment	27
Fixed maturity securities, available-for-sale
Other Commitments [Line Items]
Unfunded investment commitment	20
Other assets:
Other Commitments [Line Items]
Unfunded investment commitment	16
Related party loans
Other Commitments [Line Items]
Unfunded investment commitment	$ 5

Commitments and Contingencies88

Commitments and Contingencies - Schedule of Minimum Rental Commitments (Details) $ in Millions	Sep. 30, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 2
2,017	2
2,018	2
2,019	2
2,020	2
Thereafter	1
Total	$ 11

Commitments and Contingencies89

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Aug. 10, 2015	Jan. 07, 2015	Apr. 04, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2015
Loss Contingencies [Line Items]
Rent expense				$ 2	$ 2	$ 2
Accrued amount of guaranty fund assessments				4
Estimated future premium tax deductions				4
Pre-tax charge, net of reinsurance, to increase reserves to cover potential benefits payable							$ 11
Administrative costs and potential liabilities				2
Payments audit and legal costs				2
Eddie L. Cressy v. Fidelity Guaranty [sic] Life Insurance Company, et. al.
Loss Contingencies [Line Items]
Payments for Legal Settlements	$ 1			3
Estimate of possible loss				9
Estimated Litigation Liability				2
Legal Fees				4
Insurance Settlements Receivable								$ 4
Eddie L. Cressy v. Fidelity Guaranty [sic] Life Insurance Company, et. al. | Settled Litigation
Loss Contingencies [Line Items]
Litigation Settlement, Amount			$ 5
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
Loss Contingencies [Line Items]
Estimated Litigation Liability				$ 1
Loss Contingency, Damages Sought, Value		$ 0

Reinsurance - Effect of Reinsur

Reinsurance - Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes (Detail) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Premiums Earned, Net [Abstract]
Direct	$ 416	$ 406	$ 415
Assumed	0	36	33
Ceded	(271)	(320)	(330)
Net	145	122	118
Benefits and Other Changes in Insurance Policy Reserves:
Net	578	788	533
Traditional life insurance premiums
Premiums Earned, Net [Abstract]
Direct	260	267	279
Assumed	0	36	33
Ceded	(202)	(247)	(253)
Net	58	56	59
Benefits and Other Changes in Insurance Policy Reserves:
Direct	833	1,103	777
Assumed	0	28	23
Ceded	(255)	(343)	(267)
Net	$ 578	$ 788	$ 533

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details)	Jun. 17, 2013USD ($)	Oct. 02, 2012USD ($)	Sep. 30, 2015USD ($)policy	Sep. 30, 2014USD ($)	Sep. 30, 2013USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Sep. 30, 2012USD ($)
Ceded Credit Risk [Line Items]
Commute			$ 271,000,000	$ 320,000,000	$ 330,000,000
Policies Reinsured by Foreign Company Not Engaged in Insurance | policy			0
Pretax Gain On Reinsurance Transactions Deferred			$ 11,000,000	14,000,000				$ 18,000,000
Life and Annuity Insurance Product Line
Ceded Credit Risk [Line Items]
Write Off			0	0
Commute			0	$ 0
Nomura | Letter of Credit
Ceded Credit Risk [Line Items]
Maximum Borrowing Capacity		$ 295,000,000	226,000,000
Payments of Financing Costs		3,000,000
Letter of Credit Facility, Quarterly Reduction in Borrowing Capacity		$ 6,000,000
Raven Re
Ceded Credit Risk [Line Items]
Statutory capital and surplus			$ 22,000,000			$ 187,000,000	$ 182,000,000
Wilton Reassurance Company
Ceded Credit Risk [Line Items]
Settlement of Rescission of Reinsurance	$ 6,000,000
Gain on Rescission of Reinsurance Policy	$ 2,000,000

Related Party Transactions - Su

Related Party Transactions - Summary of Related Party Net Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014	Aug. 09, 2013
Related Party Transaction [Line Items]
Total assets	$ 24,925	$ 24,153
Total liabilities	$ 23,423	$ 22,494
Insurance Subsidiary
Related Party Transaction [Line Items]
Total assets			$ 1,646
Total liabilities			1,517
Total net assets			$ 129

Related Party Transactions - 93

Related Party Transactions - Summary of Affiliated Entity Operations (Details) - Front Street RE (Cayman) Ltd. - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Related Party Transaction [Line Items]
Premiums	$ 1	$ 1	$ 0
Net investment income	63	64	7
Gain (Loss) on Investments	(30)	25	(1)
Insurance and investment product fees and other	4	5	1
Total revenues	38	95	7
Policyholder Benefits and Claims Incurred, Net	(42)	(60)	(1)
Selling, General and Administrative Expense	(4)	(6)	0
Costs and Expenses	(46)	(66)	(1)
Operating income	$ (8)	$ 29	$ 6

Related Party Transactions - Re

Related Party Transactions - Related Party Investments (Details) $ in Millions	12 Months Ended
	Sep. 30, 2015USD ($)borrower		Sep. 30, 2014USD ($)	Sep. 30, 2013USD ($)
Salus participations
Related Party Transaction [Line Items]
Loan Participations, Number of Borrowers | borrower	17
Loan Participations, Average Fair Value of Loan Balance	$ 6
Fixed maturity securities, available-for-sale | Salus Collateralized Loan Obligation
Related Party Transaction [Line Items]
Asset carrying value	245		$ 239
Accrued Investment Income	0		1
Total carrying value	245		240
Net Investment Income	11		13	$ 5
Fixed maturity securities, available-for-sale | Fortress Investment Group Collateralized Loan Obligation
Related Party Transaction [Line Items]
Asset carrying value	181		195
Accrued Investment Income	2		2
Total carrying value	183		197
Net Investment Income	8		2	0
Fixed maturity securities, available-for-sale | Leucadia National Corp Obligation
Related Party Transaction [Line Items]
Net Investment Income	0		1	0
Fixed maturity securities, available-for-sale | Jefferies Group Inc
Related Party Transaction [Line Items]
Net Investment Income	0		1	0
Equities | Salus Preferred Stock
Related Party Transaction [Line Items]
Asset carrying value	3	[1]	34
Accrued Investment Income	0	[1]	0
Total carrying value	3	[1]	34
Net Investment Income	0		2	2
Other invested assets
Related Party Transaction [Line Items]
Asset carrying value	11		2
Accrued Investment Income	0		0
Total carrying value	11		2
Other invested assets | Salus participations
Related Party Transaction [Line Items]
Asset carrying value	110		213
Accrued Investment Income	1		2
Total carrying value	111		215
Net Investment Income	15		19	7
Other invested assets | Energy and Infrastructure Capital Participations
Related Party Transaction [Line Items]
Asset carrying value	9
Accrued Investment Income	0
Total carrying value	9
Related party investment | HGI Energy Loan
Related Party Transaction [Line Items]
Asset carrying value	70	[2]	70
Accrued Investment Income	1	[2]	2
Total carrying value	71	[2]	72
Net Investment Income	5		6	4
Related party investment | Salus 2012 Participations
Related Party Transaction [Line Items]
Asset carrying value	4		11
Accrued Investment Income	0		0
Total carrying value	4		11
Net Investment Income	0		1	4
Related party investment | Salus Promissory Note
Related Party Transaction [Line Items]
Asset carrying value	3		20
Accrued Investment Income	0		0
Total carrying value	3		20
Net Investment Income	1		1	1
Related party investment | Salus Revolver
Related Party Transaction [Line Items]
Asset carrying value			10
Accrued Investment Income			0
Total carrying value			10
Net Investment Income	0		1	$ 0
Front Street RE (Cayman) Ltd. | HGI Energy Loan
Related Party Transaction [Line Items]
Asset carrying value	$ 20		$ 20
[1]	Salus preferred equity is included in the FSRCI funds withheld portfolio, accordingly all income on this asset is ceded to FSRCI.
[2]	$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.

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	Sep. 17, 2014	Aug. 23, 2013	Aug. 09, 2013	Dec. 31, 2012	Jan. 31, 2014	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Oct. 07, 2015	Aug. 26, 2015	Feb. 27, 2015
Related Party Transaction [Line Items]
Distribution to Parent Company			$ 47				$ 0	$ 0	$ 47
Distribution of non-cash assets to HRG Group Inc. and subsidiaries		$ 41	82				0	0	123
Contingent Purchase Price Reduction Receivable		$ 50
Reinsurance recoverable						$ 3,665	3,579	3,665
Funds Held under Reinsurance Agreements, Liability						1,331	1,267	1,331
Net realized gains on fixed maturity available-for-sale securities							11	104	332
Other than Temporary Impairment Losses, Investments							(82)	(1)	$ (3)
Other invested assets
Related Party Transaction [Line Items]
Other than Temporary Impairment Losses, Investments							(36)
Available-for-sale Securities
Related Party Transaction [Line Items]
Other than Temporary Impairment Losses, Investments							(46)
Front Street RE (Cayman) Ltd.
Related Party Transaction [Line Items]
Reinsurance recoverable						1,267	1,227	1,267
Funds Held under Reinsurance Agreements, Liability						1,293	1,258	1,293
Other than Temporary Impairment Losses, Investments							(81)
Insurance Subsidiary
Related Party Transaction [Line Items]
Net Assets			$ 129
Fgl Reinsurance Agreement With Fsr
Related Party Transaction [Line Items]
Reinsurance Arrangement In Percentage	30.00%		10.00%	10.00%
Leucadia National Corp Obligation
Related Party Transaction [Line Items]
Net realized gains on fixed maturity available-for-sale securities						2
Jefferies Group Inc
Related Party Transaction [Line Items]
Net realized gains on fixed maturity available-for-sale securities						6
Frederick's of Hollywood
Related Party Transaction [Line Items]
Net realized gains on fixed maturity available-for-sale securities						$ 0
Salus Preferred Stock
Related Party Transaction [Line Items]
Preferred Stock, Dividend Rate, Percentage					10.00%
Related Party Transaction, Asset Par Value					$ 30
Salus Loan Participation, Collateralized Loan Obligation Subordinated Debt | Insurance Subsidiary
Related Party Transaction [Line Items]
Related Party Transaction, Loan Participations												$ 14
Related Party Transaction, Collateralized Loan Obligation Subordinated Debt												16
Notes Receivable, Related Parties, Noncurrent												20
Notes Receivable, Related Parties, Current												10
FGL Loan Participation, Collateralized Loan Obligation Subordinated Debt and Salus Promissory Note | Insurance Subsidiary
Related Party Transaction [Line Items]
Related Party Transaction, Loan Participations												29
Related Party Transaction, Collateralized Loan Obligation Subordinated Debt												27
Notes Receivable, Related Parties, Noncurrent												$ 3
Salus Participations
Related Party Transaction [Line Items]
Other than Temporary Impairment Losses, Investments							(35)
Other derivatives and embedded derivatives | Other invested assets | Net investment (losses) gains:
Related Party Transaction [Line Items]
Derivative, Loss on Derivative							4	1
Derivative, Gain on Derivative							$ 9	$ 2
50% of shares sold by external party [Member] | HRG [Member]
Related Party Transaction [Line Items]
Business Combination, Fees Reimbursed to Entity, Percentage of Shares Sold by Affiliated Entity Triggering Prorated Reimbursement											50.00%
Subsequent Event | 50% of shares sold by external party [Member] | HRG [Member]
Related Party Transaction [Line Items]
Business Combination, Fees Reimbursed to Entity, Percentage of Shares Sold by Affiliated Entity Triggering Prorated Reimbursement										50.00%

Earnings Per Share - Summary of

Earnings Per Share - Summary of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]
Net income	$ 30	$ 86	$ (12)	$ 14	$ 39	$ 57	$ 25	$ 42	$ 118	$ 163	$ 348
Weighted-average common shares outstanding - basic									58,117,884	55,969,912	47,000,000
Dilutive effect of unvested restricted stock and unvested performance restricted stock									208,000	31,000	0
Dilutive effect of stock options									35,000	10,000	0
Weighted-average shares outstanding - diluted									58,360,841	56,011,436	47,000,000
Net income per common share - adjusted to reflect stock split:
Basic (in dollars per share)	$ 0.52	$ 1.48	$ (0.21)	$ 0.24	$ 0.66	$ 0.97	$ 0.43	$ 0.87	$ 2.03	$ 2.91	$ 7.40
Diluted (in dollars per share)	$ 0.51	$ 1.48	$ (0.21)	$ 0.24	$ 0.66	$ 0.97	$ 0.42	$ 0.87	$ 2.02	$ 2.90	$ 7.40
Stock Option Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS, less than, amount (shares)									17,000	1,000

Insurance Subsidiary Financia97

Insurance Subsidiary Financial Information and Regulatory Matters - Statutory Income and Net Capital (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
IOWA
Statutory Accounting Practices [Line Items]
Statutory net income	$ 105	$ 118	$ 102
Statutory capital and surplus	1,212	1,108
NEW YORK
Statutory Accounting Practices [Line Items]
Statutory net income	2	1	$ 1
Statutory capital and surplus	$ 61	$ 62

Insurance Subsidiary Financia98

Insurance Subsidiary Financial Information and Regulatory Matters - Narrative (Details) - USD ($)	Nov. 01, 2013	Oct. 07, 2013	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	Apr. 06, 2011
Statutory Accounting Practices [Line Items]
Statutory Amount Available for Dividend Payments without Regulatory Approval			$ 121,000,000
Statutory Capital and Surplus, Increase (Decrease) as a Result of Re-Domestication by Entity				$ 5,000,000	$ 12,000,000
Statutory Capital and Surplus, Unassigned Balance Netted Against Additional Paid in Capital						$ 806,000,000
Statutory Accounting Practices, Statutory Capital and Surplus, Unassigned						$ 0
Permitted Practice, Change in Statutory Capital and Surplus				245,000,000	270,000,000
Non-Permitted Practice, Change in Statutory Capital and Surplus				(75,000,000)	(109,000,000)
IOWA
Statutory Accounting Practices [Line Items]
Permitted Practice, Change in Statutory Capital and Surplus				17,000,000	20,000,000
Statutory capital and surplus				1,212,000,000	1,108,000,000
Commitment by Parent Company not to Exercise Control, Period	5 years
NEW YORK
Statutory Accounting Practices [Line Items]
Statutory capital and surplus				61,000,000	62,000,000
Commitment by Parent Company not to Exercise Control, Period		7 years
Statutory Accounting Practices, Statutory Capital and Surplus Required, Percent		225.00%
Collateral Requirement, Regulatory Agreement		$ 19,000,000
Raven Re
Statutory Accounting Practices [Line Items]
Statutory capital and surplus			$ 22,000,000	$ 187,000,000	$ 182,000,000

Other Liabilities - Schedule of

Other Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Other Liabilities Disclosure [Abstract]
Amounts payable for investment purchases	$ 125	$ 160
Retained asset account	213	212
Option collateral liabilities	7	135
Remittances and items not allocated	42	103
Amounts payable to reinsurers	17	52
Accrued expenses	43	42
Deferred reinsurance revenue	27	29
Other	89	104
Total	$ 563	$ 837

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]
Percent of employer matching	5.00%
Employer discretionary contribution	$ 2	$ 1	$ 1

Quarterly Results (Unaudited) -

Quarterly Results (Unaudited) - Schedule of Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Quarterly Financial Information Disclosure [Abstract]
Premiums	$ 15	$ 17	$ 15	$ 11	$ 14	$ 13	$ 15	$ 14	$ 58	$ 56	$ 59
Net investment income	223	212	208	208	201	191	184	184	851	760	708
Net realized (losses) gains	(112)	74	(58)	59	40	145	(2)	124	(37)	307	518
Insurance and investment product fees and other	24	23	22	20	17	19	17	15	89	68	62
Revenues	150	326	187	298	272	368	214	337	961	1,191	1,347
Total operating expenses	101	192	193	269	211	280	222	266	755	979	827
Net income	$ 30	$ 86	$ (12)	$ 14	$ 39	$ 57	$ 25	$ 42	$ 118	$ 163	$ 348
Basic (in dollars per share)	$ 0.52	$ 1.48	$ (0.21)	$ 0.24	$ 0.66	$ 0.97	$ 0.43	$ 0.87	$ 2.03	$ 2.91	$ 7.40
Diluted (in dollars per share)	$ 0.51	$ 1.48	$ (0.21)	$ 0.24	$ 0.66	$ 0.97	$ 0.42	$ 0.87	$ 2.02	$ 2.90	$ 7.40

Schedule I - Summary of Inve102

Schedule I - Summary of Investments (Details) $ in Millions	Sep. 30, 2015USD ($)
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	$ 19,092
Fair Value	19,094
Amount at which shown on the balance sheet	19,094
United States Government and government agencies and authorities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	367
Fair Value	381
Amount at which shown on the balance sheet	381
States, municipalities and political subdivisions
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	1,520
Fair Value	1,608
Amount at which shown on the balance sheet	1,608
Foreign governments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	7
Fair Value	7
Amount at which shown on the balance sheet	7
Public utilities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	1,893
Fair Value	1,849
Amount at which shown on the balance sheet	1,849
All other corporate bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	13,672
Fair Value	13,733
Amount at which shown on the balance sheet	13,733
Redeemable preferred stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	163
Fair Value	168
Amount at which shown on the balance sheet	168
Total fixed maturities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	17,622
Fair Value	17,746
Amount at which shown on the balance sheet	17,746
Public utilities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	0
Fair Value	0
Amount at which shown on the balance sheet	0
Banks, trust, and insurance companies
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	58
Fair Value	58
Amount at which shown on the balance sheet	58
Industrial, miscellaneous and all other
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	3
Fair Value	3
Amount at which shown on the balance sheet	3
Nonredeemable preferred stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	536
Fair Value	559
Amount at which shown on the balance sheet	559
Total equity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	597
Fair Value	620
Amount at which shown on the balance sheet	620
Derivative investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	218
Fair Value	82
Amount at which shown on the balance sheet	82
Commercial mortgage loans
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	491
Fair Value	491
Amount at which shown on the balance sheet	491
Other long-term investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	164
Fair Value	155
Amount at which shown on the balance sheet	$ 155

Schedule II - Condensed Fina103

Schedule II - Condensed Financial Information - Condensed Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2012
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 502	$ 576	$ 1,204	$ 1,055
Other assets	265	163
Total assets	24,925	24,153
Total liabilities	23,423	22,494
Preferred stock	0	0
Common stock	1	1
Additional paid-in capital	714	702
Retained earnings	710	607
Accumulated other comprehensive income	88	349
Treasury stock, at cost (512,391 shares at September 30, 2015; no shares at September 30, 2014)	(11)	0
Total shareholders' equity	1,502	1,659
Total liabilities and shareholders' equity	24,925	24,153
Parent Company
Condensed Balance Sheet Statements, Captions [Line Items]
Investments in consolidated subsidiaries	1,464	1,544
Fixed maturity securities, available for sale	7	0
Equity securities, available-for-sale, at fair value	17	49
Cash and cash equivalents	13	66	$ 0	$ 0
Other assets	1	0
Total assets	1,502	1,659
Total liabilities	0	0
Preferred stock	0	0
Common stock	1	1
Additional paid-in capital	714	702
Retained earnings	710	607
Accumulated other comprehensive income	88	349
Treasury stock, at cost (512,391 shares at September 30, 2015; no shares at September 30, 2014)	(11)	0
Total shareholders' equity	1,502	1,659
Total liabilities and shareholders' equity	$ 1,502	$ 1,659

Schedule II - Condensed Fina104

Schedule II - Condensed Financial Information - Condensed Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Condensed Income Statements, Captions [Line Items]
Revenues	$ 150	$ 326	$ 187	$ 298	$ 272	$ 368	$ 214	$ 337	$ 961	$ 1,191	$ 1,347
Acquisition and operating expenses, net of deferrals									113	102	110
Total operating expenses	101	192	193	269	211	280	222	266	755	979	827
Operating income									206	212	520
Income before income taxes									182	189	508
Income tax expense									64	26	160
Net income	$ 30	$ 86	$ (12)	$ 14	$ 39	$ 57	$ 25	$ 42	118	163	348
Parent Company
Condensed Income Statements, Captions [Line Items]
Revenues									(9)	2	0
Gross Profit									(9)	2	0
Acquisition and operating expenses, net of deferrals									6	6	5
Total operating expenses									6	6	5
Operating income									(15)	(4)	(5)
Equity in net income of subsidiaries									133	167	344
Interest income from subsidiary									0	0	9
Income before income taxes									118	163	348
Income tax expense									0	0	0
Net income									$ 118	$ 163	$ 348

Schedule II - Condensed Fina105

Schedule II - Condensed Financial Information - Condensed Statement of Cash Flow (Details) - USD ($) $ in Millions	Aug. 23, 2013	Aug. 09, 2013	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:
Net income			$ 30	$ 86	$ (12)	$ 14	$ 39	$ 57	$ 25	$ 42	$ 118	$ 163	$ 348
Adjustments to reconcile net income to net cash provided by operating activities:
Realized capital and other gains on investments											37	(307)	(518)
Stock based compensation											7	8	6
Other assets and other liabilities											(36)	11	(224)
Net cash provided by operating activities											35	174	335
Cash flows from investing activities:
Net cash provided by (used in) investing activities											(1,024)	(1,659)	(90)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of transaction fees											0	176	0
Capital contributions											0	0	112
Dividends paid											(15)	(55)	(94)
Treasury stock											(11)	0	0
Net cash provided by (used in) financing activities											915	857	(96)
Change in cash and cash equivalents											(74)	(628)	149
Cash & cash equivalents, beginning of period						576				1,204	576	1,204	1,055
Cash & cash equivalents, end of period			502				576				502	576	1,204
Distribution of non-cash assets to HRG Group Inc. and subsidiaries	$ 41	$ 82									0	0	123
Parent Company
Cash flows from operating activities:
Net income											118	163	348
Adjustments to reconcile net income to net cash provided by operating activities:
Realized capital and other gains on investments											9	(1)	0
Equity in net income of subsidiaries											(133)	(167)	(344)
Dividends received											0	0	74
Accrued interest from subsidiary											0	0	(9)
Stock based compensation											10	3	0
Other assets and other liabilities											2	(2)	(1)
Net cash provided by operating activities											6	(4)	68
Cash flows from investing activities:
Net repayment of notes from subsidiary											0	0	20
Capital contributions to subsidiaries											0	0	(106)
Net cash provided by (used in) investing activities											15	(49)	(86)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of transaction fees											2	173	0
Capital contributions											0	0	112
Dividends paid											(15)	(54)	(94)
Treasury stock											(11)	0	0
Distribution to FGLH and subsidiaries											(50)	0	0
Net cash provided by (used in) financing activities											(74)	119	18
Change in cash and cash equivalents											(53)	66	0
Cash & cash equivalents, beginning of period						$ 66				$ 0	66	0	0
Cash & cash equivalents, end of period			$ 13				$ 66				13	66	0
Conversion of notes payable to investment in subsidiary											0	0	213
Distribution of non-cash assets to HRG Group Inc. and subsidiaries											0	0	170
Equities | Parent Company
Cash flows from investing activities:
Proceeds from available-for-sale investments, sold, matured or repaid:											30	125	0
Cost of available-for-sale investments:											$ (15)	$ (174)	$ 0

Schedule III - Supplementary106

Schedule III - Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Supplementary Insurance Information [Abstract]
Deferred acquisition cost	$ 801	$ 456	$ 331
Future policy benefits, losses, claims and loss expenses	3,468	3,504	3,557
Other policy claims and benefits payable	55	58	51
Premium revenue	58	56	59
Net investment income	851	760	708
Benefits, claims, losses and settlement expenses	(578)	(788)	(533)
Amortization of deferred acquisition costs	(27)	(39)	(47)
Other operating expenses	$ (113)	$ (102)	$ (110)

Schedule IV - Reinsurance (Deta

Schedule IV - Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Life Insurance in Force, Net [Abstract]
Life Insurance in Force, Gross	$ 2,933	$ 2,786	$ 2,597
Life Insurance in Force, Ceded	(2,010)	(2,014)	(1,965)
Life Insurance in Force, Assumed	0	16	17
Life Insurance in Force, Net	$ 923	$ 788	$ 649
Life Insurance in Force, Percentage Assumed to Net	0.00%	2.00%	3.00%
Premiums Earned, Net [Abstract]
Direct	$ 416	$ 406	$ 415
Ceded Premiums Earned	(271)	(320)	(330)
Assumed	0	36	33
Net	$ 145	$ 122	$ 118
Premiums, Percentage Assumed to Net	0.00%	30.00%	28.00%
Traditional life insurance premiums
Premiums Earned, Net [Abstract]
Direct	$ 260	$ 267	$ 279
Ceded Premiums Earned	(202)	(247)	(253)
Assumed	0	36	33
Net	$ 58	$ 56	$ 59
Premiums, Percentage Assumed to Net	0.00%	65.00%	56.00%
Annuity product charges
Premiums Earned, Net [Abstract]
Direct	$ 156	$ 139	$ 136
Ceded Premiums Earned	(69)	(73)	(77)
Assumed	0	0	0
Net	$ 87	$ 66	$ 59
Premiums, Percentage Assumed to Net	0.00%	0.00%	0.00%