Fidelity & Guaranty Life 10-Q 3 Feb 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2015	Feb. 01, 2016
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	FGL
Entity Registrant Name	Fidelity & Guaranty Life
Entity Central Index Key	1,585,064
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		58,963,474

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Investments:
Fixed maturity securities, available-for-sale, at fair value (amortized cost: December 31, 2015 - $17,684 September 30, 2015 - $17,622)	$ 17,428	$ 17,746
Equity securities, available-for-sale, at fair value (amortized cost: December 31, 2015 - $601; September 30, 2015 - $597)	637	620
Derivative investments	145	82
Commercial mortgage loans	616	491
Other invested assets	127	155
Total investments	18,953	19,094
Related party loans	81	78
Cash and cash equivalents	568	502
Accrued investment income	181	191
Reinsurance recoverable	3,552	3,579
Intangibles, net	1,162	988
Deferred tax assets	286	228
Other assets	248	265
Total assets	25,031	24,925
LIABILITIES AND SHAREHOLDERS' EQUITY
Contractholder funds	17,961	17,770
Future policy benefits	3,473	3,468
Funds withheld for reinsurance liabilities	1,251	1,267
Liability for policy and contract claims	64	55
Debt	300	300
Other liabilities	583	563
Total liabilities	$ 23,632	$ 23,423
Commitments and contingencies
Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued at December 31, 2015 and September 30, 2015)	$ 0	$ 0
Common stock ($.01 par value, 500,000,000 shares authorized, 58,963,902 issued and outstanding at December 31, 2015; 58,870,823 shares issued and outstanding at September 30, 2015)	1	1
Additional paid-in capital	718	714
Retained earnings	754	710
Accumulated other comprehensive (loss) income	(62)	88
Treasury stock, at cost (534,514 shares at December 31, 2015; 512,391 shares at September 30, 2015)	(12)	(11)
Total shareholders' equity	1,399	1,502
Total liabilities and shareholders' equity	$ 25,031	$ 24,925

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Statement of Financial Position [Abstract]
Fixed Maturities (amortized cost)	$ 17,684	$ 17,622
Equity Securities (amortized cost)	$ 601	$ 597
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	58,963,902	58,870,823
Common stock, shares outstanding	58,963,902	58,870,823
Treasury stock, shares	534,514	512,391

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Premiums	$ 15	$ 11
Net investment income	222	208
Net investment gains	63	59
Insurance and investment product fees and other	29	20
Total revenues	329	298
Benefits and expenses:
Benefits and other changes in policy reserves	181	224
Acquisition and operating expenses, net of deferrals	28	29
Amortization of intangibles	41	16
Total benefits and expenses	250	269
Operating income	79	29
Interest expense	(6)	(6)
Income before income taxes	73	23
Income tax expense	25	9
Net income	$ 48	$ 14
Net income per common share:
Basic (in dollars per share)	$ 0.82	$ 0.24
Diluted (in dollars per share)	$ 0.82	$ 0.24
Weighted average common shares used in computing net income per common share:
Basic (shares)	58,219,260	58,283,327
Diluted (shares)	58,542,588	58,453,554
Cash dividend per common share (in dollars per share)	$ 0.065	$ 0.065
Total other-than-temporary impairments	$ (10)	$ 0
Portion of other-than-temporary impairments included in other comprehensive income	0	0
Net other-than-temporary impairments	(10)	0
Gains on derivative instruments	70	63
Other realized investment gains (losses)	$ 3	$ (4)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 48	$ 14
Unrealized investment (losses) gains:
Change in unrealized investment (losses) gain before reclassification adjustment	(373)	(11)
Net reclassification adjustment for losses (gains) included in net income	7	4
Changes in unrealized investment (losses) gains after reclassification adjustment	(366)	(7)
Adjustments to intangible assets	135	1
Changes in deferred income tax asset/liability	81	2
Net changes to derive comprehensive (loss) income for the period	(150)	(4)
Comprehensive (loss) income, net of tax	$ (102)	$ 10

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY Statement - 3 months ended Dec. 31, 2015 - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning Balance at Sep. 30, 2015	$ 1,502	$ 0	$ 1	$ 714	$ 710	$ 88	$ (11)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares purchased	(1)						(1)
Dividends	(4)				(4)
Net income	48				48
Unrealized investment gains, net	(150)					(150)
Stock compensation	2			2
Ending Balance at Dec. 31, 2015	$ 1,399	$ 0	$ 1	$ 718	$ 754	$ (62)	$ (12)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 48	$ 14
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	4	6
Amortization	(15)	(11)
Deferred income taxes	23	6
Interest credited/index credit to contractholder account balances	136	197
Net recognized (gains) on investments and derivatives	(63)	(59)
Charges assessed to contractholders for mortality and administration	(24)	(15)
Deferred policy acquisition costs, net of related amortization	(39)	(76)
Changes in operating assets and liabilities:
Reinsurance recoverable	(9)	(14)
Future policy benefits	5	(20)
Funds withheld from reinsurers	(16)	37
Collateral posted (returned)	66	39
Other assets and other liabilities	24	(15)
Net cash provided by operating activities	140	89
Cash flows from investing activities:
Proceeds from commercial mortgage loans	2	31
Costs of commercial mortgage loans	(87)	(101)
Related party loans	(3)	19
Capital expenditures	(2)	(2)
Net cash (used in) investing activities	(204)	(570)
Cash flows from financing activities:
Treasury stock	(1)	(1)
Common stock issued under employee plans	2	0
Dividends paid	(4)	(4)
Contractholder account deposits	569	873
Contractholder account withdrawals	(436)	(407)
Net cash provided by financing activities	130	461
Change in cash & cash equivalents	66	(20)
Cash & cash equivalents, beginning of period	502	576
Cash & cash equivalents, end of period	568	556
Supplemental disclosures of cash flow information
Interest paid	10	5
Taxes paid	1	26
Available-for-sale Securities
Cash flows from investing activities:
Proceeds from sale, maturity and collection of investments	896	825
Payments to acquire investments	(1,021)	(1,370)
Derivative and other
Cash flows from investing activities:
Proceeds from sale, maturity and collection of investments	89	128
Payments to acquire investments	$ (78)	$ (100)

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Fidelity & Guaranty Life (“FGL” and, collectively with its subsidiaries, the “Company”) is a subsidiary of HRG Group, Inc. (formerly, Harbinger Group Inc. (“HRG”)). The accompanying unaudited consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for the Securities and Exchange Commission (“SEC”) Quarterly Report on Form 10-Q, including Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. Therefore, the information contained in the Notes to Consolidated Financial Statements included in Fidelity & Guaranty Life and Subsidiaries' Annual Report on Form 10-K, for the year ended September 30, 2015 (“2015 Form 10-K”), should be read in connection with the reading of these interim unaudited condensed consolidated financial statements. Dollar amounts in the accompanying sections are presented in millions, unless otherwise noted. FGL markets products through its wholly-owned insurance subsidiaries, Fidelity & Guaranty Life Insurance Company (“FGL Insurance”) and Fidelity & Guaranty Life Insurance Company of New York (“FGL NY Insurance”), which together are licensed in all fifty states and the District of Columbia. On 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 . Certain GAAP policies, which significantly affect the determination of financial position, results of operations and cash flows, are summarized in our 2015 Form 10-K. In the opinion of management, these statements include all normal recurring adjustments necessary for a fair presentation of the Company’s results. Operating results for the three months ended December 31, 2015 , are not necessarily indicative of the results that may be expected for the full year ending September 30, 2016 . All material inter-company accounts and transactions have been eliminated in consolidation. Amounts reclassified out of other comprehensive income are reflected in net investment gains in the unaudited Condensed Consolidated Statements of Operations .

Significant Accounting Policies

Significant Accounting Policies and Practices	3 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies and Practices	Significant Accounting Policies and Practices Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and all other entities in which FGL has a controlling financial interest. 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 unaudited Condensed Consolidated Financial Statements for additional information on the Company’s investments in unconsolidated VIEs. Recent Accounting Pronouncements Amendments to Recognition and Measurement of Financial Assets and Financial Liabilities In January 2015, the Financial Accounting Standards Board ("FASB") issued amended guidance (Accounting Standards Update ("ASU") 2016-01, Financial Instruments- Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities ), effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Notable amendments in this update will: • require all equity securities (other than equity investments accounted for under the equity method of accounting or requiring the consolidation of the investee) to be measured at fair value with changes in fair value recognized through net income • allow equity investments that do not have readily determinable fair values to be measured at cost minus impairment (if any) plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer • require qualitative assessment for impairment of equity investments without readily determinable fair values at each reporting period and, if the qualitative assessment indicates that impairment exists, to measure the investment at fair value • eliminate the requirement to disclose the methods and significant assumptions used to estimate fair value (which is currently required to be disclosed for financial instruments measured at amortized cost on the balance sheet) The amendments in this ASU should be applied by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption, and the amendments related to equity securities without readily determinable fair values should be applied prospectively to equity investments that exist as of the date of adoption. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements.

Significant Risks and Uncertain

Significant Risks and Uncertainties	3 Months Ended
	Dec. 31, 2015
Risks and Uncertainties [Abstract]
Significant Risks and Uncertainties	Significant Risks and Uncertainties Use of Estimates and Assumptions The preparation of the Company’s unaudited Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions used. Concentrations of Financial Instruments As of December 31, 2015 and September 30, 2015 , the Company’s most significant investment in one industry, excluding United States ("U.S.") Government securities, was its investment securities in the banking industry with a fair value of $2,093 or 11% and $1,979 or 10% , respectively, of the invested assets portfolio. The Company’s holdings in this industry include investments in 87 different issuers with the top ten investments accounting for 37% of the total holdings in this industry. As of December 31, 2015 , the Company had investments in 2 issuers, Wells Fargo & Company and Goldman Sachs Group, Inc. , that exceeded 10% of shareholders' equity with a total fair value of $310 or 2% of the invested assets portfolio. 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. Additionally, the Company’s largest concentration in any single issuer as of December 31, 2015 and September 30, 2015 was in Wells Fargo & Company which had a fair value of $169 or 1% and $170 or 1% of the invested assets portfolio, respectively. Concentrations of Financial and Capital Markets Risk The Company is exposed to financial and capital markets risk, including changes in interest rates and credit spreads which can have an adverse effect on the Company’s results of operations, financial condition and liquidity. The Company expects to continue to face challenges and uncertainties that could adversely affect its results of operations and financial condition. The Company’s exposure to interest rate risk relates primarily to the market price and cash flow variability associated with changes in interest rates. A rise in interest rates, in the absence of other countervailing changes, will decrease the net unrealized gain position of the Company’s investment portfolio and, if long-term interest rates rise dramatically within a six to twelve month time period, certain of the Company’s products may be exposed to disintermediation risk. Disintermediation risk refers to the risk that policyholders may surrender their contracts in a rising interest rate environment, requiring the Company to liquidate assets in an unrealized loss position. This risk is mitigated to some extent by the high level of surrender charge protection provided by the Company’s products. Concentration of Reinsurance Risk The Company has a significant concentration of reinsurance with Wilton Reassurance Company (“Wilton Re”) and Front Street Re (Cayman) Ltd. ("FSRCI") an affiliate, that could have a material impact on the Company’s financial position in the event that Wilton Re or FSRCI fail to perform their obligations under the various reinsurance treaties. Wilton Re is a wholly owned subsidiary of Canada Pension Plan Investment Board ("CPPIB"). CPPIB has an AAA issuer credit rating from Standard & Poor's Ratings Services ("S&P") as of December 31, 2015 . As of December 31, 2015 , the net amount recoverable from Wilton Re was $1,492 and the net amount recoverable from FSRCI was $1,198 . 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	3 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Investments	1.25 1.00 - 1.25 N/A(a) December 31, 2015 LTV Ratios: Less than 50% $ 173 $ — $ 11 $ 184 30 % $ 181 30 % 50% to 60% 175 19 — 194 31 % 189 31 % 60% to 75% 239 — — 239 39 % 232 39 % Commercial mortgage loans $ 587 $ 19 $ 11 $ 617 100 % $ 602 100 % 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 % (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. December 31, 2015 September 30, 2015 Gross balance commercial mortgage loans $ 617 $ 492 Allowance for loan loss (1 ) (1 ) Net balance commercial mortgage loans $ 616 $ 491 The Company recognizes a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At December 31, 2015 and 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: December 31, 2015 September 30, 2015 Current to 30 days $ 617 $ 492 Past due — — Total carrying value $ 617 $ 492 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 December 31, 2015 , our CML portfolio had no impairments, modifications or troubled debt restructuring. During the fiscal quarter ended June 30, 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 unaudited Condensed Consolidated Financial Statements. Consequently, servicing of the portfolio was transferred from the prior servicer, Principal Real Estate Investors ("Principal"), to CorAmerica during the fiscal quarter ended June 30, 2015. Net investment income The major sources of “ Net investment income ” on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows: Three months ended December 31, 2015 December 31, 2014 Fixed maturity available-for-sale securities $ 210 $ 196 Equity available-for-sale securities 8 9 Commercial mortgage loans 6 1 Related party loans 1 2 Other investments 1 5 Gross investment income 226 213 Investment expense (4 ) (5 ) Net investment income $ 222 $ 208 During the fiscal quarter ended June 30, 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" of the 2015 Form 10-K, we updated our cash flow projections for our best estimate of the recovery as of December 31, 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 first fiscal quarter of 2016 . The weighted average remaining life on the affected securities is approximately 6 years. Net investment Gains Details underlying “Net investment gains” reported on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows: Three months ended December 31, 2015 December 31, 2014 Net realized losses on fixed maturity available-for-sale securities $ (5 ) $ (4 ) Realized gains on equity securities — 1 Net realized losses on securities (5 ) (3 ) Realized (losses) gains on certain derivative instruments (12 ) 41 Unrealized gains on certain derivative instruments 53 2 Change in fair value of reinsurance related embedded derivative 27 18 Change in fair value of other derivatives and embedded derivatives 2 2 Realized gains on derivatives and embedded derivatives 70 63 Realized losses on other invested assets (2 ) (1 ) Net investment gains $ 63 $ 59 For the three months ended December 31, 2015 , proceeds from the sale of fixed maturity available-for-sale securities totaled $564 , gross gains on such sales totaled $13 , and gross losses totaled $9 . For the three months ended December 31, 2014 , proceeds from the sale of fixed maturity available-for-sale securities, totaled $434 , gross gains on such sales totaled $8 , and gross losses totaled $13 . 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 Capital Partners, LLC ("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 collateralized loan obligations (“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 or with Salus is limited to the carrying value of its investments in Salus which totaled $172 and $251 as of December 31, 2015 and September 30, 2015 , respectively. FGL’s investments in or with Salus are detailed in “Note 14. Related Party Transactions” to the Company’s unaudited Condensed 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 or with Fifth Street is limited to the carrying value of its investments in or with Fifth Street which totaled $55 and $57 at December 31, 2015 and September 30, 2015 , respectively. During the fiscal quarter ended June 30, 2015, FGL invested in Boardwalk, 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 has funded $8 of a $35 commitment as of December 31, 2015 . 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. FGL has funded $29 as of December 31, 2015 ." id="sjs-B4">Investments The Company’s debt and equity securities investments have been designated as available-for-sale and are carried at fair value with unrealized gains and losses included in accumulated other comprehensive income (loss) (“AOCI”) net of associated adjustments for deferred acquisition costs (“DAC”), value of business acquired (“VOBA”), and deferred income taxes. The Company’s consolidated investments at December 31, 2015 and September 30, 2015 are summarized as follows: December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for sale securities Asset-backed securities $ 2,294 $ 2 $ (105 ) $ 2,191 $ 2,191 Commercial mortgage-backed securities 848 8 (21 ) 835 835 Corporates 10,073 280 (528 ) 9,825 9,825 Equities 601 41 (5 ) 637 637 Hybrids 1,174 43 (57 ) 1,160 1,160 Municipals 1,543 104 (16 ) 1,631 1,631 Residential mortgage-backed securities 1,519 60 (33 ) 1,546 1,546 U.S. Government 233 7 — 240 240 Total available-for-sale securities 18,285 545 (765 ) 18,065 18,065 Derivative investments 223 18 (96 ) 145 145 Commercial mortgage loans 616 — — 602 616 Other invested assets 135 — (8 ) 125 127 Total investments $ 19,259 $ 563 $ (869 ) $ 18,937 $ 18,953 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 — — 490 491 Other invested assets 164 — (9 ) 153 155 Total investments $ 19,092 $ 658 $ (656 ) $ 19,091 $ 19,094 Included in AOCI were cumulative gross unrealized gains of $1 and gross unrealized losses of $2 related to the non-credit portion of other than temporary impairments ("OTTI") on non-agency residential mortgage-backed securities ("RMBS") at December 31, 2015 and September 30, 2015 . The non-agency RMBS unrealized gains and losses represent the difference between amortized cost and fair value on securities that were previously impaired. Securities held on deposit with various state regulatory authorities had a fair value of $15,976 and $16,012 at December 31, 2015 and September 30, 2015 , 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 three months ended December 31, 2015 and 2014 . In accordance with the Company's Federal Home Loan Bank of Atlanta (“FHLB”) agreements, the investments supporting the funding agreement liabilities are pledged as collateral to secure the FHLB funding agreement liabilities. The collateral investments had a fair value of $512 and $524 at December 31, 2015 and September 30, 2015 , 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. December 31, 2015 Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal and U.S. Government securities: Due in one year or less $ 195 $ 195 Due after one year through five years 1,847 1,831 Due after five years through ten years 3,034 2,981 Due after ten years 7,288 7,218 Subtotal 12,364 12,225 Other securities which provide for periodic payments: Asset-backed securities 2,294 2,191 Commercial mortgage-backed securities 848 835 Structured hybrids 659 631 Residential mortgage-backed securities 1,519 1,546 Subtotal 5,320 5,203 Total fixed maturity available-for-sale securities $ 17,684 $ 17,428 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. Based on the results of our process for evaluating available-for-sales securities in unrealized loss positions for OTTI discussed above, the Company determined that the unrealized losses as of December 31, 2015 were primarily due to credit spread widening and an increase in risk free rates. Additionally, pressure in the commodity and energy markets affected the prices of securities held in these sectors; however the overall rating of the Company’s holdings in these sectors remains investment grade. Accordingly, the Company determined that the unrealized losses on the securities presented in the table below were not OTTI as of December 31, 2015 . The fair value and gross unrealized losses of available-for-sale securities, aggregated by investment category and duration of fair value below amortized cost, were as follows: December 31, 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 $ 936 $ (31 ) $ 1,071 $ (74 ) $ 2,007 $ (105 ) Commercial mortgage-backed securities 538 (19 ) 55 (2 ) 593 (21 ) Corporates 3,208 (229 ) 1,635 (299 ) 4,843 (528 ) Equities 37 (1 ) 70 (4 ) 107 (5 ) Hybrids 149 (4 ) 488 (53 ) 637 (57 ) Municipals 319 (9 ) 169 (7 ) 488 (16 ) Residential mortgage-backed securities 353 (9 ) 421 (24 ) 774 (33 ) U.S. Government — — 59 — 59 — Total available-for-sale securities $ 5,540 $ (302 ) $ 3,968 $ (463 ) $ 9,508 $ (765 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 834 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 525 Total number of available-for-sale securities in an unrealized loss position 1,359 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 At December 31, 2015 and September 30, 2015 , securities in an unrealized loss position were primarily concentrated in investment grade corporate debt instruments. At December 31, 2015 and September 30, 2015 , securities with a fair value of $758 and $302 , 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 4% and 2% of the carrying value of all investments at December 31, 2015 and September 30, 2015 , respectively. The following table provides a reconciliation of the beginning and ending balances of the credit loss portion of OTTI on fixed maturity available-for-sale securities held by the Company for the three months ended December 31, 2015 and 2014 , for which a portion of the OTTI was recognized in AOCI: Three months ended December 31, 2015 December 31, 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 The Company recognized $10 of credit impairment losses in operations during the three months ended December 31, 2015 related to fixed maturity securities with an amortized cost of $64 and a fair value of $54 at December 31, 2015 . During the three months ended December 31, 2014 , the Company recognized no material credit impairment losses in operations. Details underlying write-downs taken as a result of OTTI that were recognized in "Net income" and included in net realized gains on securities were as follows: Three months ended December 31, 2015 December 31, 2014 OTTI Recognized in Net Income: Asset-backed securities $ 4 $ — Corporates 6 — Total $ 10 $ — The portion of OTTI recognized in AOCI is disclosed in the unaudited Condensed Consolidated Statements of Comprehensive Income. Commercial Mortgage Loans Commercial mortgage loans ("CMLs") represented approximately 3% of the Company’s total investments as of December 31, 2015 and September 30, 2015 . 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: December 31, 2015 September 30, 2015 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Funeral home $ 1 — % $ 1 — % Hotel 23 4 % 13 3 % Industrial - General 37 6 % 38 8 % Industrial - Warehouse 87 14 % 76 15 % Multifamily 71 12 % 64 13 % Office 174 28 % 137 28 % Retail 224 36 % 163 33 % Total commercial mortgage loans, gross of valuation allowance $ 617 100 % $ 492 100 % Valuation allowance (1 ) (1 ) Total commercial mortgage loans $ 616 $ 491 U.S. Region: East North Central $ 127 21 % $ 121 25 % East South Central 21 4 % 12 2 % Middle Atlantic 98 16 % 87 18 % Mountain 69 11 % 42 9 % New England 14 2 % 9 2 % Pacific 162 26 % 113 23 % South Atlantic 68 11 % 69 13 % West North Central 14 2 % 14 3 % West South Central 44 7 % 25 5 % Total commercial mortgage loans, gross of valuation allowance $ 617 100 % $ 492 100 % Valuation allowance (1 ) (1 ) Total commercial mortgage loans $ 616 $ 491 The Company had a CML portfolio with 100% of all CMLs having a loan-to-value (“LTV”) ratio of less than 75% at December 31, 2015 and September 30, 2015 . As of December 31, 2015 , all CMLs are current and have not experienced credit or other events which would require the recording of an OTTI loss. LTV and debt service coverage (“DSC”) ratios are measures commonly used to assess the risk and quality of mortgage loans. The LTV ratio, calculated at time of origination, is expressed as a percentage of the amount of the loan relative to the value of the underlying property. A LTV ratio in excess of 100% indicates the unpaid loan amount exceeds the underlying collateral. The DSC ratio, based upon the most recently received financial statements, is expressed as a percentage of the amount of a property’s net income to its debt service payments. A DSC ratio of less than 1.00 indicates that a property’s operations do not generate sufficient income to cover debt payments. The following table presents the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios at December 31, 2015 and September 30, 2015 : Debt Service Coverage Ratios Total Amount % of Total Estimated Fair Value % of Total >1.25 1.00 - 1.25 N/A(a) December 31, 2015 LTV Ratios: Less than 50% $ 173 $ — $ 11 $ 184 30 % $ 181 30 % 50% to 60% 175 19 — 194 31 % 189 31 % 60% to 75% 239 — — 239 39 % 232 39 % Commercial mortgage loans $ 587 $ 19 $ 11 $ 617 100 % $ 602 100 % 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 % (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. December 31, 2015 September 30, 2015 Gross balance commercial mortgage loans $ 617 $ 492 Allowance for loan loss (1 ) (1 ) Net balance commercial mortgage loans $ 616 $ 491 The Company recognizes a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At December 31, 2015 and 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: December 31, 2015 September 30, 2015 Current to 30 days $ 617 $ 492 Past due — — Total carrying value $ 617 $ 492 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 December 31, 2015 , our CML portfolio had no impairments, modifications or troubled debt restructuring. During the fiscal quarter ended June 30, 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 unaudited Condensed Consolidated Financial Statements. Consequently, servicing of the portfolio was transferred from the prior servicer, Principal Real Estate Investors ("Principal"), to CorAmerica during the fiscal quarter ended June 30, 2015. Net investment income The major sources of “ Net investment income ” on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows: Three months ended December 31, 2015 December 31, 2014 Fixed maturity available-for-sale securities $ 210 $ 196 Equity available-for-sale securities 8 9 Commercial mortgage loans 6 1 Related party loans 1 2 Other investments 1 5 Gross investment income 226 213 Investment expense (4 ) (5 ) Net investment income $ 222 $ 208 During the fiscal quarter ended June 30, 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" of the 2015 Form 10-K, we updated our cash flow projections for our best estimate of the recovery as of December 31, 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 first fiscal quarter of 2016 . The weighted average remaining life on the affected securities is approximately 6 years. Net investment Gains Details underlying “Net investment gains” reported on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows: Three months ended December 31, 2015 December 31, 2014 Net realized losses on fixed maturity available-for-sale securities $ (5 ) $ (4 ) Realized gains on equity securities — 1 Net realized losses on securities (5 ) (3 ) Realized (losses) gains on certain derivative instruments (12 ) 41 Unrealized gains on certain derivative instruments 53 2 Change in fair value of reinsurance related embedded derivative 27 18 Change in fair value of other derivatives and embedded derivatives 2 2 Realized gains on derivatives and embedded derivatives 70 63 Realized losses on other invested assets (2 ) (1 ) Net investment gains $ 63 $ 59 For the three months ended December 31, 2015 , proceeds from the sale of fixed maturity available-for-sale securities totaled $564 , gross gains on such sales totaled $13 , and gross losses totaled $9 . For the three months ended December 31, 2014 , proceeds from the sale of fixed maturity available-for-sale securities, totaled $434 , gross gains on such sales totaled $8 , and gross losses totaled $13 . 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 Capital Partners, LLC ("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 collateralized loan obligations (“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 or with Salus is limited to the carrying value of its investments in Salus which totaled $172 and $251 as of December 31, 2015 and September 30, 2015 , respectively. FGL’s investments in or with Salus are detailed in “Note 14. Related Party Transactions” to the Company’s unaudited Condensed 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 or with Fifth Street is limited to the carrying value of its investments in or with Fifth Street which totaled $55 and $57 at December 31, 2015 and September 30, 2015 , respectively. During the fiscal quarter ended June 30, 2015, FGL invested in Boardwalk, 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 has funded $8 of a $35 commitment as of December 31, 2015 . 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. FGL has funded $29 as of December 31, 2015 .

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The carrying amounts of derivative instruments, including derivative instruments embedded in fixed indexed annuity (“FIA”) contracts, is as follows: December 31, 2015 September 30, 2015 Assets: Derivative investments: Call options $ 145 $ 81 Futures contracts — 1 Other invested assets: Other derivatives and embedded derivatives 23 21 Other assets: Reinsurance related embedded derivative 195 168 $ 363 $ 271 Liabilities: Contractholder funds: FIA embedded derivative $ 2,200 $ 2,149 Funds withheld for reinsurance liabilities: Call options payable to FSRCI 8 5 Other liabilities: Futures contracts 2 — $ 2,210 $ 2,154 The change in fair value of derivative instruments included in the accompanying unaudited Condensed Consolidated Statements of Operations is as follows: Three months ended December 31, 2015 December 31, 2014 Revenues: Net investment (losses) gains: Call options $ 36 $ 39 Futures contracts 5 4 Other derivatives and embedded derivatives 2 2 Reinsurance related embedded derivative 27 18 $ 70 $ 63 Benefits and other changes in policy reserves FIA embedded derivatives $ 51 $ 232 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 December 31, 2015 the fair value of the fund-link note and embedded derivative were $23 and $11 , 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 December 31, 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 unaudited Condensed 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 $1 at December 31, 2015 and September 30, 2015 , respectively. The Company had realized gains of $0 and $1 for the three months ended December 31, 2015 and 2014 , respectively, related to these foreign exchange embedded derivatives included in "Other invested assets". The remaining two participating loans denominated in CAD currency also require reimbursement from the borrower in CAD currency, but do not include a provision for reimbursement for any net foreign exchange losses from the borrower. Consequently, Salus 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 is reflected in “Other invested assets” with the changes in the fair value reflected in the Company’s unaudited Condensed 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 which is equal to the cumulative net realized foreign exchange loss recognized on these loan participations, net of allowance for counterparty credit risk was $11 and $10 at December 31, 2015 and September 30, 2015 , respectively. The Company had realized gains of $2 and $0 for the three months ended December 31, 2015 and 2014 , respectively, related to these foreign exchange derivatives included in "Other invested assets". 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: December 31, 2015 September 30, 2015 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 $ 2,225 $ 28 $ — $ 28 $ 2,233 $ 16 $ — $ 16 Deutsche Bank A-/A3/BBB+ 2,717 48 24 24 2,482 26 — 26 Morgan Stanley */A1/A+ 4,084 64 49 15 4,086 35 7 28 Barclay's Bank A/A2/A- 394 5 — 5 392 4 — 4 Total $ 9,420 $ 145 $ 73 $ 72 $ 9,193 $ 81 $ 7 $ 74 (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 December 31, 2015 and September 30, 2015 , counterparties posted $73 and $7 of collateral, respectively, which is included in "Cash and cash equivalents" with an associated payable for this collateral included in "Other liabilities" on the unaudited Condensed Consolidated Balance Sheets . 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 $72 and $74 at December 31, 2015 and September 30, 2015 , respectively. The Company held 1,068 and 738 futures contracts at December 31, 2015 and September 30, 2015 , 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 unaudited Condensed Consolidated Balance Sheets . The amount of cash collateral held by the counterparties for such contracts was $5 and $3 at December 31, 2015 and September 30, 2015 , respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Dec. 31, 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: December 31, 2015 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 568 $ — $ — $ 568 $ 568 Fixed maturity securities, available-for-sale: Asset-backed securities — 2,112 79 2,191 2,191 Commercial mortgage-backed securities — 696 139 835 835 Corporates — 8,853 972 9,825 9,825 Hybrids — 1,160 — 1,160 1,160 Municipals — 1,593 38 1,631 1,631 Residential mortgage-backed securities — 1,546 — 1,546 1,546 U.S. Government 59 181 — 240 240 Equity securities available-for-sale 26 571 40 637 637 Derivative financial instruments — 145 — 145 145 Reinsurance related embedded derivative, included in other assets — 195 — 195 195 Other invested assets — 13 95 108 108 Total financial assets at fair value $ 653 $ 17,065 $ 1,363 $ 19,081 $ 19,081 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 2,200 $ 2,200 $ 2,200 Derivative instruments - futures contracts 2 — — 2 2 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 8 — 8 8 Total financial liabilities at fair value $ 2 $ 8 $ 2,200 $ 2,210 $ 2,210 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 1 81 — 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 $ 589 $ 17,321 $ 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 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 December 31, 2015 and September 30, 2015 . 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 and for any subsequent period. 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. Prior to December 31, 2015 future contracts have been classified as Level 2, but it was determined that these contracts are now classified as Level 1. 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 December 31, 2015 and September 30, 2015 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, indexed universal life policies (“IULs”) and immediate annuities. The fair value of deferred annuity, FIA, and IUL contracts is based on their cash surrender value (i.e. the cost the Company would incur to extinguish the liability) as these contracts are generally issued without an annuitization date. The fair value of immediate annuities contracts is derived by calculating a new fair value interest rate using the updated yield curve and treasury spreads as of the respective reporting date. At December 31, 2015 and September 30, 2015 , this resulted in higher 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 December 31, 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 December 31, 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 Radioshack Corporation ("RSH") is based upon a best estimate of the expected liquidation value of the underlying collateral. As of December 31, 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. Commercial Mortgage loans The fair value of commercial mortgage loans 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 commercial mortgage loans are classified as Level 3 within the fair value hierarchy. 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 unaudited Condensed Consolidated Financial Statements. Related Party Loans The related party loans' (discussed in "Note 14. Related Party Transactions" to the Company's unaudited Condensed 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 December 31, 2015 and September 30, 2015 are as follows: Fair Value at Valuation Range (Weighted average) December 31, 2015 Technique Unobservable Input(s) December 31, 2015 Assets Asset-backed securities $ 54 Broker-quoted Offered quotes 97.80% - 105.50% Asset-backed securities (Salus CLO equity tranche) 25 Third-Party Valuation Offered quotes 36.62% - 36.63% Discount rate 17.00% Constant default rate 2.00% RSH Recovery 30.00% Other loan recoveries 4.00% - 100.00% Commercial mortgage-backed securities 139 Broker-quoted Offered quotes 98.25% - 118.66% Corporates 911 Broker-quoted Offered quotes 50.00% - 110.87% Corporates 61 Matrix Pricing Quoted prices 105.00% - 141.17% Municipals 38 Broker-quoted Offered quotes 109.67% Equity securities available-for-sale 29 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) 5 Market-approach Yield 17.20% RSH Recovery 30.00% Discount rate 17.00% Salus CLO Equity 41.80% Other invested assets: Available-for-sale embedded derivative 11 Black-Scholes model Market value of AnchorPath fund 100.00% Loan participations 69 Market Pricing Offered quotes 100.00% Salus participation - RSH Corporation 15 Liquidation value – 30% Recovery Estimate Recovery estimate (wind-down costs) 30.18% - 34.16% Total $ 1,363 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 2,200 Discounted Cash Flow Market value of option 0.00% - 28.52% SWAP rates 1.74% - 2.19% Mortality multiplier 80.00% - 80.00% Surrender rates 0.50% - 75.00% Non-performance spread 0.25% - 0.25% Total liabilities at fair value $ 2,200 Fair Value at Valuation Unobservable Range (Weighted average) September 30, 2015 Technique 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% Loan participations 104 Market Pricing Offered quotes 100.00% Salus participation - RSH Corporation 15 Liquidation value – 30% Recovery Estimate Recovery estimate (wind-down costs) 30.00% - 34.00% 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 Changes in unrealized losses (gains), net in the Company’s FIA embedded derivatives are included in " Benefits and other changes in policy reserves " in the Condensed Consolidated Statements of Operations . The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three months ended December 31, 2015 and 2014 , respectively. This summary excludes any impact of amortization of VOBA and DAC. The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended December 31, 2015 Balance at Beginning of Period Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Period Included in Earnings Included in AOCI Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 38 $ (4 ) $ — $ 22 $ — $ — $ 23 $ 79 Commercial mortgage-backed securities 144 — — — — (1 ) (4 ) 139 Corporates 964 — (13 ) 44 — (8 ) (15 ) 972 Municipals 39 — (1 ) — — — — 38 Equity securities available-for-sale 34 — 2 4 — — — 40 Other invested assets: Available-for-sale embedded derivative 10 1 — — — — — 11 Loan participations 119 (3 ) 1 18 — (51 ) — 84 Total assets at Level 3 fair value $ 1,348 $ (6 ) $ (11 ) $ 88 $ — $ (60 ) $ 4 $ 1,363 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,149 $ 51 $ — $ — $ — $ — $ — $ 2,200 Total liabilities at Level 3 fair value $ 2,149 $ 51 $ — $ — $ — $ — $ — $ 2,200 (a) The net transfers out of Level 3 during the three months ended December 31, 2015 were exclusively to Level 2. Three months ended December 31, 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 $ 74 $ — $ — $ 3 $ — $ — $ (6 ) $ 71 Commercial mortgage-backed securities 83 — 1 36 — — — 120 Corporates 834 — 9 61 — (3 ) — 901 Municipals 37 — 2 — — — — 39 Equity securities available-for-sale 40 — (2 ) — — — — 38 Other invested assets: Available-for-sale embedded derivative 11 1 — — — — — 12 Loan participations 213 — (1 ) 56 — (31 ) — 237 Total assets at Level 3 fair value $ 1,292 $ 1 $ 9 $ 156 $ — $ (34 ) $ (6 ) $ 1,418 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,908 $ 232 $ — $ — $ — $ — $ — $ 2,140 Total liabilities at Level 3 fair value $ 1,908 $ 232 $ — $ — $ — $ — $ — $ 2,140 (a) The net transfers out of Level 3 during the three months ended December 31, 2014 were exclusively to Level 2. The following tables provide the carrying value and estimated fair value of our financial instruments that are carried on the unaudited Condensed Consolidated Balance Sheet at amounts other than fair value, summarized according to the fair value hierarchy previously described. December 31, 2015 Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets Commercial mortgage loans $ — $ — $ 602 $ 602 $ 616 Policy loans, included in other invested assets — — 9 9 11 Limited partnership investment, included in other invested assets — — 8 8 8 Related party loans — — 81 81 81 Total $ — $ — $ 700 $ 700 $ 716 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 14,168 $ 14,168 $ 15,761 Debt — 307 — 307 300 Total $ — $ 307 $ 14,168 $ 14,475 $ 16,061 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 The Company reviews the fair value hierarchy classifications each reporting period. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in and out of Level 3, or between other levels, at the beginning fair value for the reporting period in which the changes occur. There were no transfers between Level 1 and Level 2 for the three months ended December 31, 2015 and 2014 . Primary market issuance and secondary market activity for certain asset-backed securities during the three months ended December 31, 2015 and 2014 increased the market observable inputs used to establish fair values for similar securities. These factors, along with more consistent pricing from third-party sources, resulted in the Company concluding that there is sufficient trading activity in similar instruments to support classifying these securities as Level 2 as of December 31, 2015 and 2014 . Accordingly, the Company’s assessment resulted in one security transferred into Level 3 with valuation of $23 related to asset-backed securities and three securities transferred out of Level 3 with valuation of $19 related to corporate and commercial mortgage-backed securities during the three months ended December 31, 2015 . During the three months ended December 31, 2014 , there were net transfers out of Level 3 of $6 , related to asset-backed securities.

Intangible Assets

Intangible Assets	3 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Information regarding VOBA and DAC which includes deferred sales inducement, is as follows: VOBA DAC Total Balance at September 30, 2015 $ 187 $ 801 $ 988 Deferrals — 80 80 Less: Amortization related to: Unlocking 6 — 6 Interest 3 8 11 Amortization (25 ) (33 ) (58 ) Add: Adjustment for unrealized investment losses 1 134 135 Balance at December 31, 2015 $ 172 $ 990 $ 1,162 Accumulated amortization $ 407 VOBA DAC Total Balance at September 30, 2014 $ 59 $ 456 $ 515 Deferrals — 93 93 Less: Amortization related to: Unlocking 1 (2 ) (1 ) Interest 3 5 8 Amortization (11 ) (12 ) (23 ) Add: Adjustment for unrealized investment gains 7 (6 ) 1 Balance at December 31, 2014 $ 59 $ 534 $ 593 Accumulated amortization $ 361 Amortization of VOBA and DAC is based on the historical, current and future expected gross margins or profits recognized, including investment gains and losses. The interest accrual rate utilized to calculate the accretion of interest on VOBA ranged from 4% to 5% . The adjustment for unrealized net investment losses/gains represents the amount of VOBA and DAC that would have been amortized if such unrealized gains and losses had been recognized. This is referred to as the “shadow adjustments” as the additional amortization is reflected in AOCI rather than the statement of operations. As of December 31, 2015 and September 30, 2015 , the VOBA balance included cumulative adjustments for net unrealized investment losses of $2 and $1 , respectively, and the DAC balances included cumulative adjustments for net unrealized investment losses (gains) of $133 and $(1) , respectively. The above DAC balances include $65 and $59 of deferred sales inducements, net of shadow adjustments, as of December 31, 2015 and September 30, 2015 , 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 22 2017 26 2018 22 2019 18 2020 14 Thereafter 68

Debt

Debt	3 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt The Company's outstanding debt as of December 31, 2015 and September 30, 2015 is as follows: December 31, 2015 September 30, 2015 Debt $ 300 $ 300 Revolving credit facility — — As of December 31, 2015 and September 30, 2015 , the Company has not drawn on the revolver. As of December 31, 2015 and September 30, 2015 , the interest rate would be equal to 5.5% and 5.25% , respectively, had the Company drawn on the revolver. As of both December 31, 2015 and September 30, 2015 , the amount available to be drawn on the revolver was $150 . The interest expense and amortization of debt issuance costs of the Company's debt for the three months ended December 31, 2015 and 2014 , respectively, were as follows: Three months ended December 31, 2015 December 31, 2014 Interest Expense Amortization Interest Expense Amortization Debt $ 5 $ 1 $ 5 $ 1 Revolving credit facility — — — —

Equity

Equity	3 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Equity	Equity 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. During the three months ended December 31, 2015 , an additional 22 thousand shares were acquired for a total cost of $1 to satisfy employee income tax withholding pursuant to the Company’s stock compensation plan resulting in a total of 534 thousand shares repurchased, held in treasury, for a total cost of $12 . Subsequent to the Company's repurchase of shares, HRG indirectly held 47,000 thousand shares of FGL's outstanding common stock, representing an 80% interest at December 31, 2015 . Dividends The Company declared the following cash dividends during the three months ended December 31, 2015 and 2014 : Date Declared Date Paid Date Shareholders of record Shareholders of record (in thousands) Cash Dividend declared (per share) Total cash paid November 18, 2014 December 15, 2014 December 1, 2014 58,279 $0.065 $4 November 12, 2015 December 14, 2015 November 30, 2015 58,144 $0.065 $4 On February 2, 2016 , FGL’s Board of Directors declared a quarterly cash dividend of $0.065 per share. The dividend will be paid on March 7, 2016 to shareholders of record as of the close of business on February 22, 2016 .

Stock Compensation

Stock Compensation	3 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation	Stock Compensation The Merger Agreement with Anbang provides for accelerated vesting of all unvested awards under the FGL Plans and FGLH Plans and the automatic conversion into a right to receive a cash payment in an amount pursuant to the Merger Agreement for all vested and unvested awards under these Plans. See “Note 1. Basis of Presentation”. All of these awards contain a “change in control” provision which requires vesting of the awards to be accelerated if the awards are not replaced by substantially similar awards after a change in control which has not yet occurred. The Company recognized total stock compensation expense related to the FGL Plans and FGLH Plans as follows: Three months ended December 31, 2015 December 31, 2014 FGL Plans Stock options $ — $ — Restricted shares 1 1 Performance restricted stock units 1 1 Unrestricted shares — — 2 2 FGLH Plans Stock Incentive Plan - stock options — 1 2011 dividend equivalent plan — — Amended and Restated Stock Incentive Plan - stock options 1 2 Amended and Restated Stock Incentive Plan - restricted stock units 1 1 2012 dividend equivalent plan — — 2 4 Total stock compensation expense 4 6 Related tax benefit 1 2 Net stock compensation expense $ 3 $ 4 The stock compensation expense is included in "Acquisition and operating expenses, net of deferrals" in the unaudited Condensed Consolidated Statements of Operations . Total compensation expense related to the FGL Plans and FGLH Plans not yet recognized as of December 31, 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 3 2 Performance restricted stock units 4 1 Unrestricted shares — N/A 8 FGLH Plans Stock Incentive Plan - stock options — N/A 2011 dividend equivalent plan — N/A Amended and Restated Stock Incentive Plan - stock options — 0 Amended and Restated Stock Incentive Plan - restricted stock units — 0 2012 dividend equivalent plan — 0 — Total unrecognized stock compensation expense $ 8 1 FGL Plans FGL’s Compensation Committee is authorized to grant up to 2,838 thousand equity awards under the FGL Plans. At December 31, 2015 , 1,204 thousand equity awards are available for future issuance under the FGL Plans. FGL granted 119 thousand and 176 thousand stock options to certain officers, directors, other key employees and Compensation Committee members in the three months ended December 31, 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 the three months ended December 31, 2015 and 2014 was $0 and $1 , respectively. At December 31, 2015 , the intrinsic value of stock options outstanding, exercisable and vested or expected to vest was $1 , $1 , and $1 , respectively. At December 31, 2015 , the weighted average remaining contractual term of stock options outstanding, exercisable and vested or expected to vest was 6 years , 5 years and 6 years , respectively. During the three months ended December 31, 2015 , the intrinsic value of stock options exercised, total cash received upon exercise and the related tax benefit realized was $0 , $2 and $0 , respectively. During the three months ended December 31, 2014 , the intrinsic value of stock options exercised, total cash received upon exercise and the related tax benefit realized was not material. A summary of FGL’s outstanding stock options as of December 31, 2015 , and related activity during the three months then ended, is as follows (option amount in thousands): Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2015 317 $ 21.60 Granted 119 25.75 Exercised (75 ) 24.43 Forfeited or expired (4 ) 22.76 Stock options outstanding at December 31, 2015 357 22.37 Exercisable at December 31, 2015 108 19.39 Vested or projected to vest at December 31, 2015 351 22.36 The following assumptions were used in the determination of the grant date fair values using the Black-Scholes option pricing model and based on the value of FGL's common stock for stock options granted during the three months ended December 31, 2015 : Weighted average fair value per options granted $1.01 Risk-free interest rate 0.42% Assumed dividend yield 1.14% Expected option term 0.5 years Volatility 14.55% The dividend yield is based on the expected dividend rate during the expected life of the option. Expected volatility is based on the range of FGL’s stock prices after the announcement of the pending merger transaction with Anbang. 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 period of time from the grant date to the estimated closing date of the merger transaction with Anbang as this transaction has a high probability of completion, upon closing of the merger transaction the vesting of the options will be accelerated and the options will be paid out as described in “Note 1. Basis of Presentation”, and the option agreement contains a “change in control” provision which requires vesting of the options to be accelerated if the options are not replaced by substantially similar awards after the change in control. FGL granted 26 thousand and 138 thousand restricted shares to certain officers, directors, other key employees and Compensation Committee members in the three months ended December 31, 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 the three months ended December 31, 2014 that vested over a period of one year . In the three months ended December 31, 2014, FGL also granted 100 thousand restricted shares to a certain director 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 $1 and $6 , respectively. A summary of FGL’s nonvested restricted shares outstanding as of December 31, 2015 , and related activity during the three months then ended, is as follows (share amount in thousands): Restricted Stock Awards Shares Weighted Average Grant Date Fair Value Nonvested restricted shares outstanding at September 30, 2015 246 $ 21.92 Granted 26 25.75 Vested (91 ) 21.37 Forfeited (9 ) 22.54 Nonvested restricted shares outstanding at December 31, 2015 172 22.77 FGL also granted 32 thousand performance restricted stock units (“PRSUs”) to senior executive officers under the Omnibus Plan in the three months ended December 31, 2014 . 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 the three months ended December 31, 2014. The total fair value of the PRSUs granted in the three months ended December 31, 2014 assuming attainment of the target performance level in each year was $1 . A summary of nonvested PRSUs outstanding as of December 31, 2015 , and related activity during the three months then ended, is as follows (share amount in thousands): Performance Restricted Stock Units (PRSUs) Shares Weighted Average Grant Nonvested PRSUs outstanding at September 30, 2015 515 $ 17.69 Granted — — Vested — — Forfeited — — Nonvested PRSUs outstanding at December 31, 2015 515 17.69 Additionally, in the three months ended December 31, 2014, FGL granted unrestricted shares totaling 8 thousand to certain directors in payment for services rendered. Total fair value of the unrestricted shares on the grant date was $0 for the three months ended December 31, 2014. FGLH Plans A summary of FGLH's outstanding stock options as of December 31, 2015 , and related activity during the three months then ended, is as follows (option amount in thousands): FGLH Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2015 87 $ 45.04 Granted — — Exercised — — Forfeited or expired — 49.45 Stock options outstanding at December 31, 2015 87 45.01 Vested and exercisable at December 31, 2015 86 44.98 Vested or projected to vest at December 31, 2015 86 45.01 At December 31, 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: Weighted average stock option fair value $ 88.34 FGLH common stock fair value $ 134.00 FGL common stock value $ 25.37 Risk-free interest rate 0.47 % Assumed dividend yield 1.14 % Expected option term 0.5 years Volatility 14.55 % The primary assumption used in the determination of the fair value of FGLH's common stock is the value of the Company's common stock and a discount for lack of liquidity which was reduced to 5% from the historical assumption of 10% due to the shortened expected life of the options as a result of the pending merger transaction with Anbang. The dividend yield is based on the expected dividend rate during the expected life of the option. Expected volatility is based on the range of FGL’s stock prices after the announcement of the pending merger transaction with Anbang. The expected life of the options granted represents the period of time from the grant date to the estimated closing date of the merger transaction with Anbang as this transaction has a high probability of completion, upon closing of the merger transaction the vesting of the options will be accelerated and the options will be paid out as described in “Note 1. Basis of Presentation”, and the option agreements contain a “change in control” provision which requires vesting of the options to be accelerated if the options are not replaced by substantially similar awards after the change in control. At December 31, 2015 , the intrinsic value of stock options outstanding, exercisable and vested or expected to vest was $8 , $8 and $8 , respectively. At December 31, 2015 , the weighted average remaining contractual term of stock options outstanding, exercisable and vested or expected to vest was 4 , 4 and 4 , respectively. The intrinsic value of stock options exercised and the amount of cash paid upon exercise during the three months ended December 31, 2015 and 2014 was $0 and $0 , respectively. A summary of FGLH's nonvested restricted stock units as of December 31, 2015 and related activity during the three months then ended is as follows (share amount in thousands): Restricted Stock Awards Shares Weighted Average Grant Date Fair Value (a) Nonvested restricted stock units outstanding at September 30, 2015 11 $ 49.57 Granted — — Vested (11 ) 49.45 Forfeited — 49.45 Nonvested restricted stock units outstanding at December 31, 2015 — 61.15 (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 for restricted stock units which vested during the three months ended December 31, 2015 and 2014 was $2 and $1 , respectively.

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes represents federal income taxes. The effective tax rate for the three month period ended December 31, 2015 was 34% . The effective tax rate for the three month period ended December 31, 2014 was 39% . The effective tax rate on pre-tax income in the current period differs from the U.S Federal statutory rate primarily due to the impact of favorable permanent adjustments. The largest component impacting the effective tax rate for the comparative three month period was increases to the valuation allowance against the Company’s non-life subsidiary’s deferred tax assets ("DTAs") offsetting the impact of other favorable adjustments. The Company maintains a valuation allowance against certain U.S. Internal Revenue Code, Section 382 ("Section 382") limited capital loss carry forwards and the deferred tax assets of its non-life insurance company subsidiaries. A valuation allowance has been placed against Section 382 limited capital loss carry forwards to reduce these deferred tax assets to an amount that is more-likely than not to be realized before the attributes expire. The non-life insurance company subsidiaries have a history of losses and insufficient sources of future income in order to recognize any portion of their deferred tax assets. All other deferred tax assets are more likely than not to be realized based on expectations as to our future taxable income and considering all other available evidence, both positive and negative. The valuation allowance is reviewed quarterly and will be maintained until there is sufficient positive evidence to support a release. At each reporting date, management considers new evidence, both positive and negative, that could impact the future realization of deferred tax assets. Management will consider a release of the valuation allowance once there is sufficient positive evidence that it is more likely than not that the deferred tax assets will be realized. Any release of the valuation allowance will be recorded as a tax benefit increasing net income or other comprehensive income. At December 31, 2015 , unutilized capital loss carry forwards generated during the tax year ended December 31, 2010 expired. The expiration of the fully valued capital loss carry forward deferred tax assets resulted in deferred income tax expense of $72 , fully offset by a valuation allowance of $72 for the three month period ended December 31, 2015 . As of December 31, 2015 , the Company had a partial valuation allowance of $48 against its gross deferred tax assets of $334 . The valuation allowance is largely an offset to the non-life company deferred tax assets that are considered more likely than not to be unrecoverable due to insufficient sources of future income. In addition, a valuation allowance still exists against life company capital loss carryforwards that are now expected to be utilized in the current fiscal year before they expire. The remaining valuation allowance on life company capital loss carryforwards will be recognized through the effective tax rate during the current fiscal year.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company has unfunded investment commitments as of December 31, 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 December 31, 2015 Other invested assets $ 87 Other assets 39 Total $ 126 Contingencies Regulatory and Litigation Matters FGL 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 FGL management and in light of existing insurance and other potential indemnification, reinsurance and established accruals, such litigation is not expected to have a material adverse effect on FGL’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. 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 December 31, 2015 , FGL has accrued $3 for guaranty fund assessments that is expected to be offset by estimated future premium tax deductions of $3 . The Company has received inquiries from a number of state regulatory authorities regarding its use of the U.S. Social Security Administration’s Death Master File (the "Death Master File") and compliance with state claims practices regulation. Legislation requiring insurance companies to use the Death Master File to identify potential claims has been enacted in a number of states. As a result of these legislative and regulatory developments, in May 2012, the Company undertook an initiative to use the Death Master File and other publicly available databases to identify persons potentially entitled to benefits under life insurance policies, annuities and retained asset accounts. In addition, FGL 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 including litigation against the Controller for the State of California which is subject to a stay. FGL believes its current accrual will cover the reasonably estimated liability arising out of these developments, however 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 these matters. Except for the Eddie L. Cressy v. Fidelity Guaranty [sic] Life Insurance Company, et. al. ("Cressy") , which has been settled, and the putative class action complaint filed by Dale R. Ludwick, discussed below, there have been no material updates to our legal proceedings during the period. See "Note 12. Commitments and Contingencies" in our 2015 Form 10-K for a detailed discussion of our legal proceedings. On July 5, 2013, Plaintiff Eddie L. Cressy filed a putative class Complaint captioned 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 Complaint was filed after the Plaintiff was unable to maintain an action in federal court. The Complaint asserts, inter alia, that the Plaintiff and members of the putative class relied on Defendants’ advice in purchasing allegedly unsuitable equity-indexed insurance policies. On January 2, 2015, the Court entered Final Judgment in Cressy , certifying the class for settlement purposes, and approving the class settlement reached on April 4, 2014. On August 10, 2015, the Company tendered $1 to the Settlement Administrator for a claim review fund. The Company implemented an interest enhancement feature for certain policies as part of the class settlement, which enhancement began on October 12, 2015. On December 11, 2015, the parties filed a Joint Motion to amend the January 2, 2015 Final Order and Judgment, to extend the deadline for settlement completion from January 28, 2016 to October 24, 2016. At December 31, 2015 , the Company estimated the total cost for the settlement, legal fees and other costs related to Cressy would be $9 , with 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 December 31, 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. During the third quarter of 2015, the Company, HRG and OM Group (UK) Limited reached a global settlement that resolved all prior outstanding claims arising 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. As a part of the settlement, the Company received $4 to settle its outstanding claim that OMGUK was obligated to indemnify the Company for the costs to defend and the settlement of the actions brought by Plaintiff Cressy. On January 7, 2015, a putative class action complaint was filed in the United States District Court, Western District of Missouri, captioned Dale R. Ludwick, on behalf of Herself and All Others Similarly Situated v. Harbinger Group Inc., Fidelity & Guaranty Life Insurance Company, Raven Reinsurance Company, and Front Street Re (Cayman) Ltd. 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, which is pending before the Court. As of December 31, 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 December 31, 2015 .

Reinsurance

Reinsurance	3 Months Ended
	Dec. 31, 2015
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance The effect of reinsurance on premiums earned, benefits incurred and reserve changes for the three months ended December 31, 2015 and 2014 were as follows: Three months ended December 31, 2015 December 31, 2014 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 64 $ 247 $ 63 $ 293 Assumed — — 9 7 Ceded (49 ) (66 ) (61 ) (76 ) Net $ 15 $ 181 $ 11 $ 224 Amounts payable or recoverable for reinsurance on paid and unpaid claims are not subject to periodic or maximum limits. During the three months ended December 31, 2015 and 2014 , the Company did not write off any reinsurance balances. During the three months ended December 31, 2015 and 2014 , the Company did not commute any ceded reinsurance. Effective April 1, 2015, Security Life of Denver ("SLD") recaptured a traditional life block of business previously assumed by the Company and simultaneously ceded this business 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.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions FSRCI We have reinsured certain of our liabilities and obligations to FSRCI. As we are not relieved of our liability to our policyholders for this business, the liabilities and obligations associated with the reinsured policies remain on our unaudited Condensed Consolidated Balance Sheets with a corresponding reinsurance recoverable from FSRCI. In addition to various remedies that we would have in the event of a default by FSRCI, we continue to hold assets in support of the transferred reserves. At December 31, 2015 and September 30, 2015 , the Company's reinsurance recoverable included $1,198 and $1,227 , respectively, related to FSRCI and funds withheld for reinsurance liabilities included $1,242 and $1,258 , respectively, related to FSRCI. Below are the ceded operating results to FSRCI for the three months ended December 31, 2015 and 2014 : Three Months Ended Revenues: December 31, 2015 December 31, 2014 Premiums $ — $ — Net investment income 17 16 Net investment gains 1 6 Insurance and investment product fees 1 1 Total revenues 19 23 Benefits and expenses: Benefits and other changes in policy reserves (13 ) (15 ) Acquisition & operating expenses, net of deferrals (1 ) (1 ) Total benefits and expenses (14 ) (16 ) Operating income $ 5 $ 7 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 unaudited Condensed Consolidated Financial Statements. Salus originated senior secured asset-based loans to unaffiliated third-party borrowers. In addition to the participation in loans originated by Salus, FGL Insurance also agreed to provide Salus with financing in the form of a revolving loan and promissory note. In January 2014, FSRCI acquired preferred equity interests in Salus which have a 10% per annum return and a total par value of $30 which is included in the FSRCI funds withheld portfolio. Accordingly all income on this asset is ceded to FSRCI. The Company’s maximum exposure to loss as a result of its investments in Salus is limited to the carrying value of the preferred equity interests. The carrying value of these investments in Salus as of December 31, 2015 and September 30, 2015 are disclosed in the tables below. On February 27, 2015, FGL Insurance entered into a transaction with Salus whereby Salus transferred $14 of loan participations and $16 of CLO subordinated debt (i.e., equity tranche) to FGL Insurance in exchange for retirement of the $20 promissory note and $10 revolving loan owed by Salus to FGL Insurance resulting in the termination of these facilities. Additionally, FGL Insurance also entered into a transaction with the Salus CLO whereby FGL insurance transferred $29 of loan participations into the CLO in exchange for $27 of CLO subordinated notes (i.e., equity tranche) and a promissory note of $2 from Salus. Both transactions qualified as sales of financial assets accounted for at fair value and therefore did not result in any gain or loss. FGL Insurance also concluded that it is not the primary beneficiary of the Salus CLO before and after these two transactions as FGL Insurance lacks the power to direct the activities that significantly affect the economic performance of the CLO and, to a lesser extent, FGL Insurance continues to own less than a majority ownership of the CLO subordinated notes after the two transactions. Please refer to "Note 5. Derivative Financial Instruments" to the Company’s unaudited Condensed Consolidated Financial Statements for disclosure of a Canadian dollar foreign exchange swap agreement for two of our Salus loan participations. The Company’s consolidated related party investments as of December 31, 2015 and September 30, 2015 , and related net investment income for the three months ended December 31, 2015 and 2014 are summarized as follows: December 31, 2015 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available-for-sale $ 164 $ — $ 164 Fortress Investment Group CLOs Fixed maturities, available-for-sale 184 2 186 Salus preferred equity (a) Equity securities, available-for-sale 5 — 5 Salus participations (b) Other invested assets 76 1 77 Energy & Infrastructure Capital ("EIC") participations Other invested assets 8 — 8 Foreign exchange derivatives and embedded derivatives Other invested assets 12 — 12 HGI energy loan (c) Related party loans 78 — 78 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 12 different borrowers with an average loan fair value of $6 as of December 31, 2015 . (c) $28 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, 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. Three months ended December 31, 2015 December 31, 2014 Type Investment Income Classification Net investment income Net investment income Salus CLOs Fixed maturities $ 3 $ 3 Fortress Investment Group CLOs Fixed maturities 2 2 Salus participations Other invested assets 1 5 HGI energy loan Related party loans 1 1 Salus promissory note Related party loans — 1 The Company had realized foreign exchange losses of $2 and $1 for the three months ended December 31, 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 $2 and $1 for the three months ended December 31, 2015 and 2014 , respectively, included in other invested assets. See "Note 5. Derivative Financial Instruments" to the Company’s unaudited Condensed Consolidated Financial Statements for further details.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (share amounts in thousands): Three months ended December 31, 2015 December 31, 2014 Net income attributable to common shares - basic $ 48 $ 14 Weighted-average common shares outstanding - basic 58,219 58,283 Dilutive effect of unvested restricted stock & PRSU 294 140 Dilutive effect of stock options 30 31 Weighted-average shares outstanding - diluted 58,543 58,454 Net income per common share: Basic $ 0.82 $ 0.24 Diluted $ 0.82 $ 0.24 The number of shares of common stock outstanding used in calculating the weighted average thereof reflects the actual number of FGL shares of common stock outstanding, excluding unvested restricted stock and shares held in treasury. The calculation of diluted earnings per share for the three months ended December 31, 2015 and 2014 excludes the incremental effect related to certain outstanding stock options and restricted stock due to their anti-dilutive effect. The number of weighted average equivalent shares excluded is 4 thousand shares for the three months ended December 31, 2015 and 11 thousand shares for the three months ended December 31, 2014 . 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	3 Months Ended
	Dec. 31, 2015
Insurance [Abstract]
Insurance Subsidiary Financial Information and Regulatory Matters	Insurance Subsidiary Financial Information and Regulatory Matters FGL Insurance’s statutory carrying value of Raven Re reflects the effect of permitted practices Raven Re received to treat the available amount of a letter of credit as an admitted asset which increased Raven Re’s statutory capital and surplus by $220 and $226 at December 31, 2015 and September 30, 2015 , 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 $4 and $2 at December 31, 2015 and September 30, 2015 , respectively. Without such permitted statutory accounting practices Raven Re’s statutory capital and surplus would be negative $14 and negative $33 as of December 31, 2015 and September 30, 2015 , respectively, and its risk-based capital would fall below the minimum regulatory requirements. The letter of credit facility is collateralized by National Association of Insurance Commissioners (“NAIC”) 1 rated debt securities. If the permitted practice was revoked, the letter of credit could be replaced by the collateral assets with Nomura’s consent. FGL Insurance’s statutory carrying value of Raven Re at December 31, 2015 and September 30, 2015 was $210 and $196 , respectively. On November 1, 2013, FGL Insurance re-domesticated from Maryland to Iowa. After re-domestication, FGL Insurance elected to apply Iowa-prescribed accounting practices that permit Iowa-domiciled insurers to report equity call options used to economically hedge FIA index credits at amortized cost for statutory accounting purposes and to calculate FIA statutory reserves such that index credit returns will be included in the reserve only after crediting to the annuity contract. This resulted in a $42 increase to statutory capital and surplus at December 31, 2015. Also, the Iowa Insurance Division granted FGL Insurance a permitted statutory accounting practice to reclassify its negative unassigned surplus balance of $806 (unaudited) to additional paid in capital as of April 6, 2011, the date the Company acquired FGL Insurance, which will have the effect of setting FGL Insurance’s statutory unassigned surplus to zero as of this date. The prescribed and permitted statutory accounting practice has no impact on the Company’s unaudited Condensed Consolidated Financial Statements which are prepared in accordance with GAAP.

Significant Accounting Polici24

Significant Accounting Policies and Practices (Policies)	3 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and all other entities in which FGL has a controlling financial interest. All intercompany accounts and transactions have been eliminated in consolidation.
Variable Interest Entity	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 unaudited Condensed Consolidated Financial Statements for additional information on the Company’s investments in unconsolidated VIEs.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Amendments to Recognition and Measurement of Financial Assets and Financial Liabilities In January 2015, the Financial Accounting Standards Board ("FASB") issued amended guidance (Accounting Standards Update ("ASU") 2016-01, Financial Instruments- Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities ), effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Notable amendments in this update will: • require all equity securities (other than equity investments accounted for under the equity method of accounting or requiring the consolidation of the investee) to be measured at fair value with changes in fair value recognized through net income • allow equity investments that do not have readily determinable fair values to be measured at cost minus impairment (if any) plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer • require qualitative assessment for impairment of equity investments without readily determinable fair values at each reporting period and, if the qualitative assessment indicates that impairment exists, to measure the investment at fair value • eliminate the requirement to disclose the methods and significant assumptions used to estimate fair value (which is currently required to be disclosed for financial instruments measured at amortized cost on the balance sheet) The amendments in this ASU should be applied by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption, and the amendments related to equity securities without readily determinable fair values should be applied prospectively to equity investments that exist as of the date of adoption. The Company will not early adopt this standard and is currently evaluating the impact of this new accounting guidance on its consolidated financial statements.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Securities	The Company’s consolidated investments at December 31, 2015 and September 30, 2015 are summarized as follows: December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for sale securities Asset-backed securities $ 2,294 $ 2 $ (105 ) $ 2,191 $ 2,191 Commercial mortgage-backed securities 848 8 (21 ) 835 835 Corporates 10,073 280 (528 ) 9,825 9,825 Equities 601 41 (5 ) 637 637 Hybrids 1,174 43 (57 ) 1,160 1,160 Municipals 1,543 104 (16 ) 1,631 1,631 Residential mortgage-backed securities 1,519 60 (33 ) 1,546 1,546 U.S. Government 233 7 — 240 240 Total available-for-sale securities 18,285 545 (765 ) 18,065 18,065 Derivative investments 223 18 (96 ) 145 145 Commercial mortgage loans 616 — — 602 616 Other invested assets 135 — (8 ) 125 127 Total investments $ 19,259 $ 563 $ (869 ) $ 18,937 $ 18,953 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 — — 490 491 Other invested assets 164 — (9 ) 153 155 Total investments $ 19,092 $ 658 $ (656 ) $ 19,091 $ 19,094
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. December 31, 2015 Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal and U.S. Government securities: Due in one year or less $ 195 $ 195 Due after one year through five years 1,847 1,831 Due after five years through ten years 3,034 2,981 Due after ten years 7,288 7,218 Subtotal 12,364 12,225 Other securities which provide for periodic payments: Asset-backed securities 2,294 2,191 Commercial mortgage-backed securities 848 835 Structured hybrids 659 631 Residential mortgage-backed securities 1,519 1,546 Subtotal 5,320 5,203 Total fixed maturity available-for-sale securities $ 17,684 $ 17,428
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 and duration of fair value below amortized cost, were as follows: December 31, 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 $ 936 $ (31 ) $ 1,071 $ (74 ) $ 2,007 $ (105 ) Commercial mortgage-backed securities 538 (19 ) 55 (2 ) 593 (21 ) Corporates 3,208 (229 ) 1,635 (299 ) 4,843 (528 ) Equities 37 (1 ) 70 (4 ) 107 (5 ) Hybrids 149 (4 ) 488 (53 ) 637 (57 ) Municipals 319 (9 ) 169 (7 ) 488 (16 ) Residential mortgage-backed securities 353 (9 ) 421 (24 ) 774 (33 ) U.S. Government — — 59 — 59 — Total available-for-sale securities $ 5,540 $ (302 ) $ 3,968 $ (463 ) $ 9,508 $ (765 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 834 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 525 Total number of available-for-sale securities in an unrealized loss position 1,359 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
Reconciliation of Other-than-Temporary Impairment on Fixed Maturity	The following table provides a reconciliation of the beginning and ending balances of the credit loss portion of OTTI on fixed maturity available-for-sale securities held by the Company for the three months ended December 31, 2015 and 2014 , for which a portion of the OTTI was recognized in AOCI: Three months ended December 31, 2015 December 31, 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 Details underlying write-downs taken as a result of OTTI that were recognized in "Net income" and included in net realized gains on securities were as follows: Three months ended December 31, 2015 December 31, 2014 OTTI Recognized in Net Income: Asset-backed securities $ 4 $ — Corporates 6 — Total $ 10 $ —
Schedule of Loans	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. December 31, 2015 September 30, 2015 Gross balance commercial mortgage loans $ 617 $ 492 Allowance for loan loss (1 ) (1 ) Net balance commercial mortgage loans $ 616 $ 491 The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables: December 31, 2015 September 30, 2015 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Funeral home $ 1 — % $ 1 — % Hotel 23 4 % 13 3 % Industrial - General 37 6 % 38 8 % Industrial - Warehouse 87 14 % 76 15 % Multifamily 71 12 % 64 13 % Office 174 28 % 137 28 % Retail 224 36 % 163 33 % Total commercial mortgage loans, gross of valuation allowance $ 617 100 % $ 492 100 % Valuation allowance (1 ) (1 ) Total commercial mortgage loans $ 616 $ 491 U.S. Region: East North Central $ 127 21 % $ 121 25 % East South Central 21 4 % 12 2 % Middle Atlantic 98 16 % 87 18 % Mountain 69 11 % 42 9 % New England 14 2 % 9 2 % Pacific 162 26 % 113 23 % South Atlantic 68 11 % 69 13 % West North Central 14 2 % 14 3 % West South Central 44 7 % 25 5 % Total commercial mortgage loans, gross of valuation allowance $ 617 100 % $ 492 100 % Valuation allowance (1 ) (1 ) Total commercial mortgage loans $ 616 $ 491
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 December 31, 2015 and September 30, 2015 : Debt Service Coverage Ratios Total Amount % of Total Estimated Fair Value % of Total >1.25 1.00 - 1.25 N/A(a) December 31, 2015 LTV Ratios: Less than 50% $ 173 $ — $ 11 $ 184 30 % $ 181 30 % 50% to 60% 175 19 — 194 31 % 189 31 % 60% to 75% 239 — — 239 39 % 232 39 % Commercial mortgage loans $ 587 $ 19 $ 11 $ 617 100 % $ 602 100 % 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 % (a) N/A - Current DSC ratio not available.
Loan Receivable Aging	The following provides the current and past due composition of our CMLs: December 31, 2015 September 30, 2015 Current to 30 days $ 617 $ 492 Past due — — Total carrying value $ 617 $ 492
Net Investment Income	The major sources of “ Net investment income ” on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows: Three months ended December 31, 2015 December 31, 2014 Fixed maturity available-for-sale securities $ 210 $ 196 Equity available-for-sale securities 8 9 Commercial mortgage loans 6 1 Related party loans 1 2 Other investments 1 5 Gross investment income 226 213 Investment expense (4 ) (5 ) Net investment income $ 222 $ 208
Net Investment Gains	Details underlying “Net investment gains” reported on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows: Three months ended December 31, 2015 December 31, 2014 Net realized losses on fixed maturity available-for-sale securities $ (5 ) $ (4 ) Realized gains on equity securities — 1 Net realized losses on securities (5 ) (3 ) Realized (losses) gains on certain derivative instruments (12 ) 41 Unrealized gains on certain derivative instruments 53 2 Change in fair value of reinsurance related embedded derivative 27 18 Change in fair value of other derivatives and embedded derivatives 2 2 Realized gains on derivatives and embedded derivatives 70 63 Realized losses on other invested assets (2 ) (1 ) Net investment gains $ 63 $ 59

Derivative Financial Instrume26

Derivative Financial Instruments (Tables)	3 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Outstanding Derivative Contracts in Condensed Consolidated Balance Sheets	The carrying amounts of derivative instruments, including derivative instruments embedded in fixed indexed annuity (“FIA”) contracts, is as follows: December 31, 2015 September 30, 2015 Assets: Derivative investments: Call options $ 145 $ 81 Futures contracts — 1 Other invested assets: Other derivatives and embedded derivatives 23 21 Other assets: Reinsurance related embedded derivative 195 168 $ 363 $ 271 Liabilities: Contractholder funds: FIA embedded derivative $ 2,200 $ 2,149 Funds withheld for reinsurance liabilities: Call options payable to FSRCI 8 5 Other liabilities: Futures contracts 2 — $ 2,210 $ 2,154
Schedule of Change in Fair Value of Derivative Instruments	The change in fair value of derivative instruments included in the accompanying unaudited Condensed Consolidated Statements of Operations is as follows: Three months ended December 31, 2015 December 31, 2014 Revenues: Net investment (losses) gains: Call options $ 36 $ 39 Futures contracts 5 4 Other derivatives and embedded derivatives 2 2 Reinsurance related embedded derivative 27 18 $ 70 $ 63 Benefits and other changes in policy reserves FIA embedded derivatives $ 51 $ 232
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: December 31, 2015 September 30, 2015 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 $ 2,225 $ 28 $ — $ 28 $ 2,233 $ 16 $ — $ 16 Deutsche Bank A-/A3/BBB+ 2,717 48 24 24 2,482 26 — 26 Morgan Stanley */A1/A+ 4,084 64 49 15 4,086 35 7 28 Barclay's Bank A/A2/A- 394 5 — 5 392 4 — 4 Total $ 9,420 $ 145 $ 73 $ 72 $ 9,193 $ 81 $ 7 $ 74 (a) An * represents credit ratings that were not available.

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Assets and Liabilities Carrying at Fair Value on Recurring Basis	The carrying amounts and estimated fair values of the Company’s financial instruments for which the disclosure of fair values is required, including financial assets and liabilities measured and carried at fair value on a recurring basis, with the exception of investment contracts, 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: December 31, 2015 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 568 $ — $ — $ 568 $ 568 Fixed maturity securities, available-for-sale: Asset-backed securities — 2,112 79 2,191 2,191 Commercial mortgage-backed securities — 696 139 835 835 Corporates — 8,853 972 9,825 9,825 Hybrids — 1,160 — 1,160 1,160 Municipals — 1,593 38 1,631 1,631 Residential mortgage-backed securities — 1,546 — 1,546 1,546 U.S. Government 59 181 — 240 240 Equity securities available-for-sale 26 571 40 637 637 Derivative financial instruments — 145 — 145 145 Reinsurance related embedded derivative, included in other assets — 195 — 195 195 Other invested assets — 13 95 108 108 Total financial assets at fair value $ 653 $ 17,065 $ 1,363 $ 19,081 $ 19,081 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 2,200 $ 2,200 $ 2,200 Derivative instruments - futures contracts 2 — — 2 2 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 8 — 8 8 Total financial liabilities at fair value $ 2 $ 8 $ 2,200 $ 2,210 $ 2,210 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 1 81 — 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 $ 589 $ 17,321 $ 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 The following tables provide the carrying value and estimated fair value of our financial instruments that are carried on the unaudited Condensed Consolidated Balance Sheet at amounts other than fair value, summarized according to the fair value hierarchy previously described. December 31, 2015 Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets Commercial mortgage loans $ — $ — $ 602 $ 602 $ 616 Policy loans, included in other invested assets — — 9 9 11 Limited partnership investment, included in other invested assets — — 8 8 8 Related party loans — — 81 81 81 Total $ — $ — $ 700 $ 700 $ 716 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 14,168 $ 14,168 $ 15,761 Debt — 307 — 307 300 Total $ — $ 307 $ 14,168 $ 14,475 $ 16,061 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
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 December 31, 2015 and September 30, 2015 are as follows: Fair Value at Valuation Range (Weighted average) December 31, 2015 Technique Unobservable Input(s) December 31, 2015 Assets Asset-backed securities $ 54 Broker-quoted Offered quotes 97.80% - 105.50% Asset-backed securities (Salus CLO equity tranche) 25 Third-Party Valuation Offered quotes 36.62% - 36.63% Discount rate 17.00% Constant default rate 2.00% RSH Recovery 30.00% Other loan recoveries 4.00% - 100.00% Commercial mortgage-backed securities 139 Broker-quoted Offered quotes 98.25% - 118.66% Corporates 911 Broker-quoted Offered quotes 50.00% - 110.87% Corporates 61 Matrix Pricing Quoted prices 105.00% - 141.17% Municipals 38 Broker-quoted Offered quotes 109.67% Equity securities available-for-sale 29 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) 5 Market-approach Yield 17.20% RSH Recovery 30.00% Discount rate 17.00% Salus CLO Equity 41.80% Other invested assets: Available-for-sale embedded derivative 11 Black-Scholes model Market value of AnchorPath fund 100.00% Loan participations 69 Market Pricing Offered quotes 100.00% Salus participation - RSH Corporation 15 Liquidation value – 30% Recovery Estimate Recovery estimate (wind-down costs) 30.18% - 34.16% Total $ 1,363 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 2,200 Discounted Cash Flow Market value of option 0.00% - 28.52% SWAP rates 1.74% - 2.19% Mortality multiplier 80.00% - 80.00% Surrender rates 0.50% - 75.00% Non-performance spread 0.25% - 0.25% Total liabilities at fair value $ 2,200 Fair Value at Valuation Unobservable Range (Weighted average) September 30, 2015 Technique 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% Loan participations 104 Market Pricing Offered quotes 100.00% Salus participation - RSH Corporation 15 Liquidation value – 30% Recovery Estimate Recovery estimate (wind-down costs) 30.00% - 34.00% 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
Unobservable Input Reconciliation, 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 three months ended December 31, 2015 and 2014 , respectively. This summary excludes any impact of amortization of VOBA and DAC. The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended December 31, 2015 Balance at Beginning of Period Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Period Included in Earnings Included in AOCI Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 38 $ (4 ) $ — $ 22 $ — $ — $ 23 $ 79 Commercial mortgage-backed securities 144 — — — — (1 ) (4 ) 139 Corporates 964 — (13 ) 44 — (8 ) (15 ) 972 Municipals 39 — (1 ) — — — — 38 Equity securities available-for-sale 34 — 2 4 — — — 40 Other invested assets: Available-for-sale embedded derivative 10 1 — — — — — 11 Loan participations 119 (3 ) 1 18 — (51 ) — 84 Total assets at Level 3 fair value $ 1,348 $ (6 ) $ (11 ) $ 88 $ — $ (60 ) $ 4 $ 1,363 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,149 $ 51 $ — $ — $ — $ — $ — $ 2,200 Total liabilities at Level 3 fair value $ 2,149 $ 51 $ — $ — $ — $ — $ — $ 2,200 (a) The net transfers out of Level 3 during the three months ended December 31, 2015 were exclusively to Level 2. Three months ended December 31, 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 $ 74 $ — $ — $ 3 $ — $ — $ (6 ) $ 71 Commercial mortgage-backed securities 83 — 1 36 — — — 120 Corporates 834 — 9 61 — (3 ) — 901 Municipals 37 — 2 — — — — 39 Equity securities available-for-sale 40 — (2 ) — — — — 38 Other invested assets: Available-for-sale embedded derivative 11 1 — — — — — 12 Loan participations 213 — (1 ) 56 — (31 ) — 237 Total assets at Level 3 fair value $ 1,292 $ 1 $ 9 $ 156 $ — $ (34 ) $ (6 ) $ 1,418 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,908 $ 232 $ — $ — $ — $ — $ — $ 2,140 Total liabilities at Level 3 fair value $ 1,908 $ 232 $ — $ — $ — $ — $ — $ 2,140 (a) The net transfers out of Level 3 during the three months ended December 31, 2014 were exclusively to Level 2.
Unobservable Input Reconciliation, Liabilities	This summary excludes any impact of amortization of VOBA and DAC. The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology. Three months ended December 31, 2015 Balance at Beginning of Period Total Gains (Losses) Purchases Sales Settlements Net transfer In (Out) of Level 3 (a) Balance at End of Period Included in Earnings Included in AOCI Assets Fixed maturity securities available-for-sale: Asset-backed securities $ 38 $ (4 ) $ — $ 22 $ — $ — $ 23 $ 79 Commercial mortgage-backed securities 144 — — — — (1 ) (4 ) 139 Corporates 964 — (13 ) 44 — (8 ) (15 ) 972 Municipals 39 — (1 ) — — — — 38 Equity securities available-for-sale 34 — 2 4 — — — 40 Other invested assets: Available-for-sale embedded derivative 10 1 — — — — — 11 Loan participations 119 (3 ) 1 18 — (51 ) — 84 Total assets at Level 3 fair value $ 1,348 $ (6 ) $ (11 ) $ 88 $ — $ (60 ) $ 4 $ 1,363 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,149 $ 51 $ — $ — $ — $ — $ — $ 2,200 Total liabilities at Level 3 fair value $ 2,149 $ 51 $ — $ — $ — $ — $ — $ 2,200 (a) The net transfers out of Level 3 during the three months ended December 31, 2015 were exclusively to Level 2. Three months ended December 31, 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 $ 74 $ — $ — $ 3 $ — $ — $ (6 ) $ 71 Commercial mortgage-backed securities 83 — 1 36 — — — 120 Corporates 834 — 9 61 — (3 ) — 901 Municipals 37 — 2 — — — — 39 Equity securities available-for-sale 40 — (2 ) — — — — 38 Other invested assets: Available-for-sale embedded derivative 11 1 — — — — — 12 Loan participations 213 — (1 ) 56 — (31 ) — 237 Total assets at Level 3 fair value $ 1,292 $ 1 $ 9 $ 156 $ — $ (34 ) $ (6 ) $ 1,418 Liabilities FIA embedded derivatives, included in contractholder funds $ 1,908 $ 232 $ — $ — $ — $ — $ — $ 2,140 Total liabilities at Level 3 fair value $ 1,908 $ 232 $ — $ — $ — $ — $ — $ 2,140 (a) The net transfers out of Level 3 during the three months ended December 31, 2014 were exclusively to Level 2.

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Definite Lived Intangible Assets	Information regarding VOBA and DAC which includes deferred sales inducement, is as follows: VOBA DAC Total Balance at September 30, 2015 $ 187 $ 801 $ 988 Deferrals — 80 80 Less: Amortization related to: Unlocking 6 — 6 Interest 3 8 11 Amortization (25 ) (33 ) (58 ) Add: Adjustment for unrealized investment losses 1 134 135 Balance at December 31, 2015 $ 172 $ 990 $ 1,162 Accumulated amortization $ 407 VOBA DAC Total Balance at September 30, 2014 $ 59 $ 456 $ 515 Deferrals — 93 93 Less: Amortization related to: Unlocking 1 (2 ) (1 ) Interest 3 5 8 Amortization (11 ) (12 ) (23 ) Add: Adjustment for unrealized investment gains 7 (6 ) 1 Balance at December 31, 2014 $ 59 $ 534 $ 593 Accumulated amortization $ 361
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 22 2017 26 2018 22 2019 18 2020 14 Thereafter 68

Debt (Tables)

Debt (Tables)	3 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt	The Company's outstanding debt as of December 31, 2015 and September 30, 2015 is as follows: December 31, 2015 September 30, 2015 Debt $ 300 $ 300 Revolving credit facility — — The interest expense and amortization of debt issuance costs of the Company's debt for the three months ended December 31, 2015 and 2014 , respectively, were as follows: Three months ended December 31, 2015 December 31, 2014 Interest Expense Amortization Interest Expense Amortization Debt $ 5 $ 1 $ 5 $ 1 Revolving credit facility — — — —

Equity (Tables)

Equity (Tables)	3 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Dividends Declared	The Company declared the following cash dividends during the three months ended December 31, 2015 and 2014 : Date Declared Date Paid Date Shareholders of record Shareholders of record (in thousands) Cash Dividend declared (per share) Total cash paid November 18, 2014 December 15, 2014 December 1, 2014 58,279 $0.065 $4 November 12, 2015 December 14, 2015 November 30, 2015 58,144 $0.065 $4

Stock Compensation (Tables)

Stock Compensation (Tables)	3 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Allocation of Share-based Compensation Costs by Plan	The Company recognized total stock compensation expense related to the FGL Plans and FGLH Plans as follows: Three months ended December 31, 2015 December 31, 2014 FGL Plans Stock options $ — $ — Restricted shares 1 1 Performance restricted stock units 1 1 Unrestricted shares — — 2 2 FGLH Plans Stock Incentive Plan - stock options — 1 2011 dividend equivalent plan — — Amended and Restated Stock Incentive Plan - stock options 1 2 Amended and Restated Stock Incentive Plan - restricted stock units 1 1 2012 dividend equivalent plan — — 2 4 Total stock compensation expense 4 6 Related tax benefit 1 2 Net stock compensation expense $ 3 $ 4
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 December 31, 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 3 2 Performance restricted stock units 4 1 Unrestricted shares — N/A 8 FGLH Plans Stock Incentive Plan - stock options — N/A 2011 dividend equivalent plan — N/A Amended and Restated Stock Incentive Plan - stock options — 0 Amended and Restated Stock Incentive Plan - restricted stock units — 0 2012 dividend equivalent plan — 0 — Total unrecognized stock compensation expense $ 8 1
Summary of Stock Options Outstanding and Related Activity	A summary of FGL’s outstanding stock options as of December 31, 2015 , and related activity during the three months then ended, is as follows (option amount in thousands): Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2015 317 $ 21.60 Granted 119 25.75 Exercised (75 ) 24.43 Forfeited or expired (4 ) 22.76 Stock options outstanding at December 31, 2015 357 22.37 Exercisable at December 31, 2015 108 19.39 Vested or projected to vest at December 31, 2015 351 22.36 A summary of FGLH's outstanding stock options as of December 31, 2015 , and related activity during the three months then ended, is as follows (option amount in thousands): FGLH Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2015 87 $ 45.04 Granted — — Exercised — — Forfeited or expired — 49.45 Stock options outstanding at December 31, 2015 87 45.01 Vested and exercisable at December 31, 2015 86 44.98 Vested or projected to vest at December 31, 2015 86 45.01
Assumptions Used in Determination of Grant Date Fair Values Using Black-Scholes Option Pricing Model	The following assumptions were used in the determination of the grant date fair values using the Black-Scholes option pricing model and based on the value of FGL's common stock for stock options granted during the three months ended December 31, 2015 : Weighted average fair value per options granted $1.01 Risk-free interest rate 0.42% Assumed dividend yield 1.14% Expected option term 0.5 years Volatility 14.55% 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: Weighted average stock option fair value $ 88.34 FGLH common stock fair value $ 134.00 FGL common stock value $ 25.37 Risk-free interest rate 0.47 % Assumed dividend yield 1.14 % Expected option term 0.5 years Volatility 14.55 %
Summary of Restricted Stock and Restricted Stock Units Outstanding and Related Activity	A summary of FGL’s nonvested restricted shares outstanding as of December 31, 2015 , and related activity during the three months then ended, is as follows (share amount in thousands): Restricted Stock Awards Shares Weighted Average Grant Date Fair Value Nonvested restricted shares outstanding at September 30, 2015 246 $ 21.92 Granted 26 25.75 Vested (91 ) 21.37 Forfeited (9 ) 22.54 Nonvested restricted shares outstanding at December 31, 2015 172 22.77 A summary of FGLH's nonvested restricted stock units as of December 31, 2015 and related activity during the three months then ended is as follows (share amount in thousands): Restricted Stock Awards Shares Weighted Average Grant Date Fair Value (a) Nonvested restricted stock units outstanding at September 30, 2015 11 $ 49.57 Granted — — Vested (11 ) 49.45 Forfeited — 49.45 Nonvested restricted stock units outstanding at December 31, 2015 — 61.15 (a) Fair value is based on the value of FGLH’s common stock, not the value of the Company’s common stock.
Schedule of Nonvested Performance-based Units Activity	A summary of nonvested PRSUs outstanding as of December 31, 2015 , and related activity during the three months then ended, is as follows (share amount in thousands): Performance Restricted Stock Units (PRSUs) Shares Weighted Average Grant Nonvested PRSUs outstanding at September 30, 2015 515 $ 17.69 Granted — — Vested — — Forfeited — — Nonvested PRSUs outstanding at December 31, 2015 515 17.69

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Investment Commitments	A summary of unfunded commitments by invested asset class are included below: Asset Type December 31, 2015 Other invested assets $ 87 Other assets 39 Total $ 126

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Dec. 31, 2015
Reinsurance Disclosures [Abstract]
Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes	The effect of reinsurance on premiums earned, benefits incurred and reserve changes for the three months ended December 31, 2015 and 2014 were as follows: Three months ended December 31, 2015 December 31, 2014 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 64 $ 247 $ 63 $ 293 Assumed — — 9 7 Ceded (49 ) (66 ) (61 ) (76 ) Net $ 15 $ 181 $ 11 $ 224

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The Company’s consolidated related party investments as of December 31, 2015 and September 30, 2015 , and related net investment income for the three months ended December 31, 2015 and 2014 are summarized as follows: December 31, 2015 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available-for-sale $ 164 $ — $ 164 Fortress Investment Group CLOs Fixed maturities, available-for-sale 184 2 186 Salus preferred equity (a) Equity securities, available-for-sale 5 — 5 Salus participations (b) Other invested assets 76 1 77 Energy & Infrastructure Capital ("EIC") participations Other invested assets 8 — 8 Foreign exchange derivatives and embedded derivatives Other invested assets 12 — 12 HGI energy loan (c) Related party loans 78 — 78 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 12 different borrowers with an average loan fair value of $6 as of December 31, 2015 . (c) $28 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, 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. Three months ended December 31, 2015 December 31, 2014 Type Investment Income Classification Net investment income Net investment income Salus CLOs Fixed maturities $ 3 $ 3 Fortress Investment Group CLOs Fixed maturities 2 2 Salus participations Other invested assets 1 5 HGI energy loan Related party loans 1 1 Salus promissory note Related party loans — 1 Below are the ceded operating results to FSRCI for the three months ended December 31, 2015 and 2014 : Three Months Ended Revenues: December 31, 2015 December 31, 2014 Premiums $ — $ — Net investment income 17 16 Net investment gains 1 6 Insurance and investment product fees 1 1 Total revenues 19 23 Benefits and expenses: Benefits and other changes in policy reserves (13 ) (15 ) Acquisition & operating expenses, net of deferrals (1 ) (1 ) Total benefits and expenses (14 ) (16 ) Operating income $ 5 $ 7

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Summary of Basic and Diluted EPS	The following table sets forth the computation of basic and diluted earnings per share (share amounts in thousands): Three months ended December 31, 2015 December 31, 2014 Net income attributable to common shares - basic $ 48 $ 14 Weighted-average common shares outstanding - basic 58,219 58,283 Dilutive effect of unvested restricted stock & PRSU 294 140 Dilutive effect of stock options 30 31 Weighted-average shares outstanding - diluted 58,543 58,454 Net income per common share: Basic $ 0.82 $ 0.24 Diluted $ 0.82 $ 0.24

Basis of Presentation Narrative

Basis of Presentation Narrative (Details) - Anbang Insurance Group Co., Ltd. $ / shares in Units, $ in Millions	Nov. 08, 2015USD ($)$ / shares
Merger Agreement [Line Items]
Termination fee in event of merger cancellation | $	$ 51
FGL | Planned Acquisition
Merger Agreement [Line Items]
Expected share price for merger | $ / shares	$ 26.80

Significant Risks and Uncerta37

Significant Risks and Uncertainties - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2015USD ($)issuer	Sep. 30, 2015USD ($)issuer
Wilton Reassurance Company
Concentration Risk [Line Items]
Net amount recoverable	$ 1,492
Front Street RE (Cayman) Ltd.
Concentration Risk [Line Items]
Net amount recoverable	1,198
All Financial Instruments
Concentration Risk [Line Items]
FGL's investment securities in the banking industry	$ 2,093	$ 1,979
Exposure of FGL's invested assets	11.00%	10.00%
Number of issuers in investment | issuer	87
Percentage of total holdings in industry	37.00%
Issuers Over 10% Holdings
Concentration Risk [Line Items]
FGL's investment securities in the banking industry	$ 310	$ 170
Exposure of FGL's invested assets	2.00%	1.00%
Number of issuers in investment | issuer	2	1
Single Issuer
Concentration Risk [Line Items]
FGL's investment securities in the banking industry	$ 169	$ 170
Exposure of FGL's invested assets	1.00%	1.00%

Investments - Available-for-Sa

Investments - Available-for-Sale Securities Table (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	$ 18,285	$ 18,219
Available-for-sale Securities, Gross Unrealized Gains	545	645
Available-for-sale Securities, Gross Unrealized Losses	(765)	(498)
Available-for-sale securities, fair value	18,065	18,366
Available-for-sale Securities, Carrying Value	18,065	18,366
Derivative Investments, Cost or Amortized Cost	223	218
Derivative Investments, Gross Unrealized Gains	18	13
Derivative Investments, Gross Unrealized Losses	(96)	(149)
Derivative Investments, Fair Value	145	82
Derivative Investments, Carrying Value	145	82
Investment, Commercial Mortgage Loans, Amortized Cost	616	491
Commercial Mortgage Loans, Gross Unrealized Gain	0	0
Commercial Mortgage Loans, Gross Unrealized Loss	0	0
Commercial mortgage loans	602	490
Total carrying value	616	491
Total Investments, Cost or Amortized Cost	19,259	19,092
Total Investments, Gross Unrealized Gains	563	658
Total Investments, Gross Unrealized Losses	(869)	(656)
Total Investment, Fair Value	18,937	19,091
Total Investments, Carrying Value	18,953	19,094
Asset-backed securities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	2,294	2,148
Available-for-sale Securities, Gross Unrealized Gains	2	5
Available-for-sale Securities, Gross Unrealized Losses	(105)	(47)
Available-for-sale securities, fair value	2,191	2,106
Available-for-sale Securities, Carrying Value	2,191	2,106
Commercial mortgage-backed securities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	848	878
Available-for-sale Securities, Gross Unrealized Gains	8	14
Available-for-sale Securities, Gross Unrealized Losses	(21)	(10)
Available-for-sale securities, fair value	835	882
Available-for-sale Securities, Carrying Value	835	882
Corporates
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	10,073	9,533
Available-for-sale Securities, Gross Unrealized Gains	280	351
Available-for-sale Securities, Gross Unrealized Losses	(528)	(354)
Available-for-sale securities, fair value	9,825	9,530
Available-for-sale Securities, Carrying Value	9,825	9,530
Equities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	601	597
Available-for-sale Securities, Gross Unrealized Gains	41	27
Available-for-sale Securities, Gross Unrealized Losses	(5)	(4)
Available-for-sale securities, fair value	637	620
Available-for-sale Securities, Carrying Value	637	620
Hybrids
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	1,174	1,211
Available-for-sale Securities, Gross Unrealized Gains	43	45
Available-for-sale Securities, Gross Unrealized Losses	(57)	(42)
Available-for-sale securities, fair value	1,160	1,214
Available-for-sale Securities, Carrying Value	1,160	1,214
Municipals
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	1,543	1,520
Available-for-sale Securities, Gross Unrealized Gains	104	103
Available-for-sale Securities, Gross Unrealized Losses	(16)	(15)
Available-for-sale securities, fair value	1,631	1,608
Available-for-sale Securities, Carrying Value	1,631	1,608
Residential mortgage-backed securities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	1,519	2,099
Available-for-sale Securities, Gross Unrealized Gains	60	89
Available-for-sale Securities, Gross Unrealized Losses	(33)	(26)
Available-for-sale securities, fair value	1,546	2,162
Available-for-sale Securities, Carrying Value	1,546	2,162
U.S. Government
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	233	233
Available-for-sale Securities, Gross Unrealized Gains	7	11
Available-for-sale Securities, Gross Unrealized Losses	0	0
Available-for-sale securities, fair value	240	244
Available-for-sale Securities, Carrying Value	240	244
Other invested assets
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	135	164
Available-for-sale Securities, Gross Unrealized Gains	0	0
Available-for-sale Securities, Gross Unrealized Losses	(8)	(9)
Available-for-sale securities, fair value	125	153
Available-for-sale Securities, Carrying Value	$ 127	$ 155

Investments - Amortized Cost a

Investments - Amortized Cost and Fair Value of Fixed Maturity Available-for-Sale Securities (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	$ 5,320
Total fixed maturity available-for-sale securities, Amortized Cost	17,684	$ 17,622
Other securities which provide for periodic payments, Fair Value	5,203
Total fixed maturity available-for-sale securities, Fair Value	17,428
U.S. Government
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	195
Due after one year through five years, Amortized Cost	1,847
Due after five years through ten years, Amortized Cost	3,034
Due after ten years, Amortized Cost	7,288
Subtotal, Amortized Cost	12,364
Due in one year or less, Fair Value	195
Due after one year through five years, Fair Value	1,831
Due after five years through ten years, Fair Value	2,981
Due after ten years, Fair Value	7,218
Subtotal, Fair Value	12,225
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	2,294
Other securities which provide for periodic payments, Fair Value	2,191
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	848
Other securities which provide for periodic payments, Fair Value	835
Structured hybrids
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	659
Other securities which provide for periodic payments, Fair Value	631
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	1,519
Other securities which provide for periodic payments, Fair Value	$ 1,546

Investments - Fair Value and G

Investments - Fair Value and Gross Unrealized Losses of Available-for-Sale Securities (Detail) $ in Millions	Dec. 31, 2015USD ($)Security	Sep. 30, 2015USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	$ 5,540	$ 4,188
Available-for-sale securities, gross unrealized losses, less than 12 months	(302)	(243)
Available-for-sale securities, fair value, 12 months of longer	3,968	3,428
Available-for-sale securities, gross unrealized losses, 12 months of longer	(463)	(255)
Available-for-sale securities, fair value, total	9,508	7,616
Available-for-sale securities, gross unrealized losses, total	$ (765)	$ (498)
Total number of available-for-sale securities in an unrealized loss position, less than 12 months | Security	834	712
Total number of available-for-sale securities in an unrealized loss position, 12 months or longer | Security	525	396
Total number of available-for-sale securities in an unrealized loss position | Security	1,359	1,108
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	$ 936	$ 816
Available-for-sale securities, gross unrealized losses, less than 12 months	(31)	(14)
Available-for-sale securities, fair value, 12 months of longer	1,071	833
Available-for-sale securities, gross unrealized losses, 12 months of longer	(74)	(33)
Available-for-sale securities, fair value, total	2,007	1,649
Available-for-sale securities, gross unrealized losses, total	(105)	(47)
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	538	262
Available-for-sale securities, gross unrealized losses, less than 12 months	(19)	(8)
Available-for-sale securities, fair value, 12 months of longer	55	133
Available-for-sale securities, gross unrealized losses, 12 months of longer	(2)	(2)
Available-for-sale securities, fair value, total	593	395
Available-for-sale securities, gross unrealized losses, total	(21)	(10)
Corporates
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	3,208	2,342
Available-for-sale securities, gross unrealized losses, less than 12 months	(229)	(201)
Available-for-sale securities, fair value, 12 months of longer	1,635	1,328
Available-for-sale securities, gross unrealized losses, 12 months of longer	(299)	(153)
Available-for-sale securities, fair value, total	4,843	3,670
Available-for-sale securities, gross unrealized losses, total	(528)	(354)
Equities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	37	37
Available-for-sale securities, gross unrealized losses, less than 12 months	(1)	0
Available-for-sale securities, fair value, 12 months of longer	70	106
Available-for-sale securities, gross unrealized losses, 12 months of longer	(4)	(4)
Available-for-sale securities, fair value, total	107	143
Available-for-sale securities, gross unrealized losses, total	(5)	(4)
Hybrids
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	149	88
Available-for-sale securities, gross unrealized losses, less than 12 months	(4)	(4)
Available-for-sale securities, fair value, 12 months of longer	488	542
Available-for-sale securities, gross unrealized losses, 12 months of longer	(53)	(38)
Available-for-sale securities, fair value, total	637	630
Available-for-sale securities, gross unrealized losses, total	(57)	(42)
Municipals
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	319	220
Available-for-sale securities, gross unrealized losses, less than 12 months	(9)	(6)
Available-for-sale securities, fair value, 12 months of longer	169	192
Available-for-sale securities, gross unrealized losses, 12 months of longer	(7)	(9)
Available-for-sale securities, fair value, total	488	412
Available-for-sale securities, gross unrealized losses, total	(16)	(15)
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	353	423
Available-for-sale securities, gross unrealized losses, less than 12 months	(9)	(10)
Available-for-sale securities, fair value, 12 months of longer	421	294
Available-for-sale securities, gross unrealized losses, 12 months of longer	(24)	(16)
Available-for-sale securities, fair value, total	774	717
Available-for-sale securities, gross unrealized losses, total	(33)	$ (26)
U.S. Government
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	0
Available-for-sale securities, gross unrealized losses, less than 12 months	0
Available-for-sale securities, fair value, 12 months of longer	59
Available-for-sale securities, gross unrealized losses, 12 months of longer	0
Available-for-sale securities, fair value, total	59
Available-for-sale securities, gross unrealized losses, total	$ 0

Investments - Reconciliation o

Investments - Reconciliation of Other than Temporary Impairment on Fixed Maturity (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Beginning balance	$ 3	$ 3
Increases attributable to credit losses on securities:
OTTI was previously recognized	0	0
OTTI was not previously recognized	0	0
Ending balance	3	3
Other-than-temporary impairments	10	0
Asset-backed securities
Increases attributable to credit losses on securities:
Other-than-temporary impairments	4	0
Corporates
Increases attributable to credit losses on securities:
Other-than-temporary impairments	$ 6	$ 0

Investments - Schedule of Comme

Investments - Schedule of Commercial Mortgage Loan Investment (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 617	$ 492
% of Total	100.00%	100.00%
Valuation allowance	$ (1)	$ (1)
Commercial mortgage loans	616	491
East North Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 127	$ 121
% of Total	21.00%	25.00%
East South Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 21	$ 12
% of Total	4.00%	2.00%
Middle Atlantic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 98	$ 87
% of Total	16.00%	18.00%
Mountain
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 69	$ 42
% of Total	11.00%	9.00%
New England
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 14	$ 9
% of Total	2.00%	2.00%
Pacific
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 162	$ 113
% of Total	26.00%	23.00%
South Atlantic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 68	$ 69
% of Total	11.00%	13.00%
West North Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 14	$ 14
% of Total	2.00%	3.00%
West South Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 44	$ 25
% of Total	7.00%	5.00%
Funeral home
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 1	$ 1
% of Total	0.00%	0.00%
Hotel
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 23	$ 13
% of Total	4.00%	3.00%
Industrial - General
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 37	$ 38
% of Total	6.00%	8.00%
Industrial - Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 87	$ 76
% of Total	14.00%	15.00%
Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 71	$ 64
% of Total	12.00%	13.00%
Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 174	$ 137
% of Total	28.00%	28.00%
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 224	$ 163
% of Total	36.00%	33.00%

Investments - Commercial Loans

Investments - Commercial Loans by LTV and DSCR (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 617	$ 492
% of Total	100.00%	100.00%
Estimate of Fair Value Measurement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 602	$ 490
% of Total	100.00%	100.00%
Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 184	$ 126
% of Total	30.00%	25.00%
Less than 50% | Estimate of Fair Value Measurement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 181	$ 125
% of Total	30.00%	25.00%
50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 194	$ 181
% of Total	31.00%	37.00%
50% to 60% | Estimate of Fair Value Measurement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 189	$ 180
% of Total	31.00%	37.00%
60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 239	$ 185
% of Total	39.00%	38.00%
60% to 75% | Estimate of Fair Value Measurement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 232	$ 185
% of Total	39.00%	38.00%
Greater Than 1.25
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 587	$ 461
Greater Than 1.25 | Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	173	115
Greater Than 1.25 | 50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	175	161
Greater Than 1.25 | 60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	239	185
Greater Than 1.0 But Less Than 1.25
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	19	20
Greater Than 1.0 But Less Than 1.25 | Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	0	0
Greater Than 1.0 But Less Than 1.25 | 50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	19	20
Greater Than 1.0 But Less Than 1.25 | 60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	0	0
Ratio Not Available
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	11	11
Ratio Not Available | Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	11	11
Ratio Not Available | 50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	0	0
Ratio Not Available | 60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Carrying Value	$ 0	$ 0

Investments - Schedule of Loan

Investments - Schedule of Loan Aging (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Current to 30 days	$ 617	$ 492
Past due	0	0
Total carrying value	$ 617	$ 492

Investments - Net Investment I

Investments - Net Investment Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of Investments [Line Items]
Gross investment income	$ 226	$ 213
External investment expense	(4)	(5)
Net investment income	222	208
Fixed maturity available-for-sale securities
Schedule of Investments [Line Items]
Gross investment income	210	196
Equity available-for-sale securities
Schedule of Investments [Line Items]
Gross investment income	8	9
Commercial mortgage loans
Schedule of Investments [Line Items]
Gross investment income	6	1
Related party loans
Schedule of Investments [Line Items]
Gross investment income	1	2
Other investments
Schedule of Investments [Line Items]
Gross investment income	$ 1	$ 5

Investments - Net Investment G

Investments - Net Investment Gains (Losses) (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Gain (Loss) on Investments [Abstract]
Net realized losses on fixed maturity available-for-sale securities	$ (5)	$ (4)
Realized gains on equity securities	0	1
Net realized losses on securities	(5)	(3)
Realized (losses) gains on certain derivative instruments	(12)	41
Unrealized gains on certain derivative instruments	53	2
Change in fair value of reinsurance related embedded derivative	27	18
Change in fair value of other derivatives and embedded derivatives	2	2
Realized gains on derivatives and embedded derivatives	70	63
Realized losses on other invested assets	(2)	(1)
Net investment gains	$ 63	$ 59

Investments - Additional Infor

Investments - Additional Information (Detail)	3 Months Ended		12 Months Ended
	Dec. 31, 2015USD ($)Investmentloan	Dec. 31, 2014USD ($)Investment	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)loan
Schedule of Available-for-sale Securities [Line Items]
Non-income producing investments | Investment	0	0
FHLB collateral pledged	$ 512,000,000			$ 524,000,000
Fair value on securities	$ 758,000,000			$ 302,000,000
Percentage of amortized cost	20.00%			20.00%
Percentage of carrying values of all investments (less than 2%)	4.00%	2.00%
Other-than-temporary impairments	$ 10,000,000	$ 0
Available-for-sale securities, cost or amortized cost	18,285,000,000			$ 18,219,000,000
Available-for-sale securities, fair value	$ 18,065,000,000			$ 18,366,000,000
Number of loans past due | loan	0			0
Number of impaired loans | loan	0
Number of loans modified | loan	0
VIE, Not Primary Beneficiary | Salus Capital Partners LLC
Schedule of Available-for-sale Securities [Line Items]
VIE, Maximum loss exposure	$ 172,000,000			$ 251,000,000
VIE, Not Primary Beneficiary | Fifth Street Management LLC
Schedule of Available-for-sale Securities [Line Items]
VIE, Maximum loss exposure	55,000,000			57,000,000
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Assets held by regulators	15,976,000,000			$ 16,012,000,000
Proceeds from sale, maturity and collection of investments	896,000,000	825,000,000
Available-for-sale Securities | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sale, maturity and collection of investments	564,000,000	434,000,000
Gain on sale of investments	13,000,000	8,000,000
Loss on sale of investments	$ (9,000,000)	$ (13,000,000)
Commercial mortgage loans
Schedule of Available-for-sale Securities [Line Items]
Percent of total investments	3.00%			3.00%
Ratio of performing loans	100.00%			100.00%
LTV, maximum threshold	75.00%			75.00%
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Unrealized gain related to non credit portion of OTTI included in AOCI	$ 1,000,000
Unrealized losses included in AOCI related to the non-credit portion of other than-temporary impairments on non-agency residential-mortgage-backed securities				$ (2,000,000)
Available-for-sale securities, cost or amortized cost	1,519,000,000			2,099,000,000
Available-for-sale securities, fair value	$ 1,546,000,000			$ 2,162,000,000
Residential mortgage-backed securities | Bank Of America
Schedule of Available-for-sale Securities [Line Items]
Weighted average life of investment	6 years
Asset Backed Securities and Corporate Securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, cost or amortized cost	$ 64,000,000
Available-for-sale securities, fair value	54,000,000
Forecast
Schedule of Available-for-sale Securities [Line Items]
Settlement			$ 18,000,000
Forecast | Minimum
Schedule of Available-for-sale Securities [Line Items]
Settlement			15,000,000
Forecast | Maximum
Schedule of Available-for-sale Securities [Line Items]
Settlement			$ 20,000,000
Commitment to Invest
Schedule of Available-for-sale Securities [Line Items]
Total	126,000,000
Commitment to Invest | Boardwalk I, L.P.
Schedule of Available-for-sale Securities [Line Items]
Total	$ 35,000,000
Investment commitment period	3 years
Investment in business development company	$ 8,000,000
Commitment to Invest | Crescent Capital BDC Inc.
Schedule of Available-for-sale Securities [Line Items]
Total	75,000,000
Investment in business development company	$ 29,000,000

Derivative Financial Instrume48

Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Derivative [Line Items]
Total asset derivatives	$ 363	$ 271
Total liability derivatives	2,210	2,154
Call options | Derivative Instruments
Derivative [Line Items]
Total asset derivatives	145	81
Call options | Funds withheld for reinsurance liability
Derivative [Line Items]
Total liability derivatives	8	5
Future | Other liabilities
Derivative [Line Items]
Total liability derivatives	2	0
Other Embedded Derivative | Other invested assets
Derivative [Line Items]
Total asset derivatives	23	21
Embedded derivatives in Reinsurance contracts | Other assets
Derivative [Line Items]
Total asset derivatives	195	168
Fia Embedded Derivatives | Contractholder funds
Derivative [Line Items]
Total liability derivatives	2,200	2,149
Not Designated as Hedging Instrument | Call options
Derivative [Line Items]
Total asset derivatives	145	81
Not Designated as Hedging Instrument | Future | Derivative Instruments
Derivative [Line Items]
Total asset derivatives	$ 0	$ 1

Derivative Financial Instrume49

Derivative Financial Instruments - Schedule of Change in Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	$ 27	$ 18
Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	70	63
Call options | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	36	39
Future | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	5	4
Other Embedded Derivative | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	2	2
Embedded derivatives in Reinsurance contracts | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	27	18
Fia Embedded Derivatives
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	$ 51	$ 232

Derivative Financial Instrume50

Derivative Financial Instruments - FGL's Exposure to Credit Loss on Call Options Held (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Sep. 30, 2015
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 363	$ 271
Merrill Lynch
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	A/*/A
Deutsche Bank
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	A-/A3/BBB+
Morgan Stanley
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	*/A1/A+
Barclay's Bank
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	A/A2/A-
Not Designated as Hedging Instrument | Call options
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 9,420	9,193
Derivative Asset, Fair Value, Gross Asset	145	81
Derivative Asset, Collateral, Obligation to Return Cash, Offset	73	7
Derivative Asset, Fair Value, Amount Offset Against Collateral	72	74
Not Designated as Hedging Instrument | Call options | Merrill Lynch
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	2,225	2,233
Derivative Asset, Fair Value, Gross Asset	28	16
Derivative Asset, Collateral, Obligation to Return Cash, Offset	0	0
Derivative Asset, Fair Value, Amount Offset Against Collateral	28	16
Not Designated as Hedging Instrument | Call options | Deutsche Bank
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	2,717	2,482
Derivative Asset, Fair Value, Gross Asset	48	26
Derivative Asset, Collateral, Obligation to Return Cash, Offset	24	0
Derivative Asset, Fair Value, Amount Offset Against Collateral	24	26
Not Designated as Hedging Instrument | Call options | Morgan Stanley
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	4,084	4,086
Derivative Asset, Fair Value, Gross Asset	64	35
Derivative Asset, Collateral, Obligation to Return Cash, Offset	49	7
Derivative Asset, Fair Value, Amount Offset Against Collateral	15	28
Not Designated as Hedging Instrument | Call options | Barclay's Bank
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	394	392
Derivative Asset, Fair Value, Gross Asset	5	4
Derivative Asset, Collateral, Obligation to Return Cash, Offset	0	0
Derivative Asset, Fair Value, Amount Offset Against Collateral	$ 5	$ 4

Derivative Financial Instrume51

Derivative Financial Instruments - Additional Information (Details) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2015USD ($)loanContract	Dec. 31, 2014USD ($)	Sep. 30, 2015USD ($)Contract	Sep. 30, 2014USD ($)	Jun. 16, 2014USD ($)
Derivative [Line Items]
Asset Value	$ 1,363	$ 1,418	$ 1,348	$ 1,292
Number of participating loans | loan	4
Number of participating loans with reimbursement provisions | loan	2
Change in fair value of reinsurance related embedded derivative	$ (27)	(18)
Number of participating loans without reimbursement provisions | loan	2
Maximum exposure	$ 72		74
Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(70)	(63)
Other Embedded Derivative | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(2)	(2)
Other Embedded Derivative | Net Realized Investment Gains | Other invested assets
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	1		1
Foreign Exchange Contract | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	0	1
Call options | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Notional Amount	9,420		9,193
Collateral posted	73		7
Call options | Not Designated as Hedging Instrument | Merrill Lynch
Derivative [Line Items]
Derivative, Notional Amount	2,225		2,233
Collateral posted	0		0
Call options | Not Designated as Hedging Instrument | Other liabilities
Derivative [Line Items]
Collateral posted	104		$ 135
Call options | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	$ (36)	(39)
Future
Derivative [Line Items]
Number of instruments held | Contract	1,068		738
Collateral held	$ 5		$ 3
Future | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	(5)	(4)
Other invested assets
Derivative [Line Items]
Fund purchased					$ 35
Asset Value	23
Other invested assets | Other Embedded Derivative
Derivative [Line Items]
Derivative, Notional Amount					$ 11
Available-for-sale embedded derivative
Derivative [Line Items]
Asset Value	11	12	$ 10	11
Salus Participations
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	11			$ 10
Salus Participations | Net Realized Investment Gains
Derivative [Line Items]
Change in fair value of reinsurance related embedded derivative	$ (2)	$ 0

Fair Value of Financial Instr52

Fair Value of Financial Instruments - Assets and Liabilities Carrying at Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	$ 18,065	$ 18,366
Derivative investments	145	82
Total financial assets at fair value	1,363	1,348
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	568	502
Equity securities - available-for-sale	26	26
Derivative investments	0	1
Other invested assets	0	0
Total financial assets at fair value	653	589
Investment contracts, included in contractholder funds	0	0
Debt	0	0
Total financial liabilities at fair value	2	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	571	560
Derivative investments	145	81
Other invested assets	13	11
Total financial assets at fair value	17,065	17,321
Investment contracts, included in contractholder funds	0	0
Debt	307	312
Total financial liabilities at fair value	8	5
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	40	34
Derivative investments	0	0
Other invested assets	95	129
Total financial assets at fair value	1,363	1,348
Investment contracts, included in contractholder funds	14,168	14,126
Debt	0	0
Total financial liabilities at fair value	2,200	2,149
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	568	502
Equity securities - available-for-sale	637	620
Derivative investments	145	82
Other invested assets	108	140
Total financial assets at fair value	19,081	19,258
Investment contracts, included in contractholder funds	14,168	14,126
Debt	307	312
Total financial liabilities at fair value	2,210	2,154
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	568	502
Equity securities - available-for-sale	637	620
Derivative investments	145	82
Other invested assets	108	140
Total financial assets at fair value	19,081	19,258
Investment contracts, included in contractholder funds	15,761	15,621
Debt	300	300
Total financial liabilities at fair value	2,210	2,154
Embedded derivatives in Reinsurance contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	0	0
Embedded derivatives in Reinsurance contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	195	168
Embedded derivatives in Reinsurance contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	0	0
Embedded derivatives in Reinsurance contracts | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	195	168
Embedded derivatives in Reinsurance contracts | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	195	168
Fixed Index Annuity | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	0
Fixed Index Annuity | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	0
Fixed Index Annuity | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,200	2,149
Fixed Index Annuity | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,200	2,149
Fixed Index Annuity | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,200	2,149
Future Contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2
Future Contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0
Future Contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0
Future Contracts | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2
Future Contracts | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2
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	8	5
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 | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities	8	5
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	8	5
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	2,191	2,106
Asset-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	0	0
Asset-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	2,112	2,068
Asset-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	79	38
Asset-backed securities | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	2,191	2,106
Asset-backed securities | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	2,191	2,106
Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	835	882
Commercial mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	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, fair value	696	738
Commercial mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	139	144
Commercial mortgage-backed securities | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	835	882
Commercial mortgage-backed securities | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	835	882
Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	9,825	9,530
Corporates | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	0	0
Corporates | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	8,853	8,566
Corporates | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	972	964
Corporates | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	9,825	9,530
Corporates | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	9,825	9,530
Hybrids
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,160	1,214
Hybrids | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	0	0
Hybrids | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,160	1,214
Hybrids | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	0	0
Hybrids | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,160	1,214
Hybrids | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,160	1,214
Municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,631	1,608
Municipals | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	0	0
Municipals | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,593	1,569
Municipals | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	38	39
Municipals | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,631	1,608
Municipals | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,631	1,608
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,546	2,162
Residential mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	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, fair value	1,546	2,162
Residential mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	0	0
Residential mortgage-backed securities | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,546	2,162
Residential mortgage-backed securities | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	1,546	2,162
U.S. Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	240	244
U.S. Government | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	59	60
U.S. Government | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	181	184
U.S. Government | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	0	0
U.S. Government | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	240	244
U.S. Government | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	$ 240	$ 244

Fair Value of Financial Instr53

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	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 1,363	$ 1,348
Total financial liabilities at fair value	2,200	2,149
Market Approach Valuation Technique | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 54	$ 10
Valuation Technique	Broker-quoted	Broker-quoted
Market Approach Valuation Technique | Asset-backed securities | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	97.80%	100.37%
Market Approach Valuation Technique | Asset-backed securities | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	105.50%	107.84%
Market Approach Valuation Technique | Asset-backed securities | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	99.28%	102.42%
Market Approach Valuation Technique | Commercial mortgage-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 139	$ 144
Valuation Technique	Broker-quoted	Broker-quoted
Market Approach Valuation Technique | Commercial mortgage-backed securities | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	98.25%	99.32%
Market Approach Valuation Technique | Commercial mortgage-backed securities | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	118.66%	119.00%
Market Approach Valuation Technique | Commercial mortgage-backed securities | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	111.01%	110.95%
Market Approach Valuation Technique | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 911	$ 898
Valuation Technique	Broker-quoted	Broker-quoted
Market Approach Valuation Technique | Corporates | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	50.00%	56.75%
Market Approach Valuation Technique | Corporates | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	110.87%	113.83%
Market Approach Valuation Technique | Corporates | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	99.37%	100.69%
Market Approach Valuation Technique | Municipals
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 38	$ 39
Valuation Technique	Broker-quoted	Broker-quoted
Brokered quotes	109.67%	111.47%
Market Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 29	$ 25
Valuation Technique	Net Asset Value	Net Asset Value
Matrix pricing	100.00%	100.00%
Market Approach Valuation Technique | Other invested assets
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 15	$ 15
Valuation Technique	Liquidation value – 30% Recovery Estimate	Liquidation value – 30% Recovery Estimate
Market Approach Valuation Technique | Other invested assets | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
RSH recovery		30.00%
Inventory pricing	30.18%
Market Approach Valuation Technique | Other invested assets | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
RSH recovery		34.00%
Inventory pricing	34.16%
Income Approach Valuation Technique | Fixed Index Annuity
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial liabilities at fair value	$ 2,200	$ 2,149
Valuation Technique	Discounted Cash Flow	Discounted Cash Flow
Income Approach Valuation Technique | Minimum | Fixed Index Annuity
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market value of option	0.00%	0.00%
Swap rate	1.74%	1.38%
Mortality multiplier	80.00%	80.00%
Surrender rates	0.50%	0.50%
Non-performance spread	0.25%	0.25%
Income Approach Valuation Technique | Maximum | Fixed Index Annuity
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market value of option	28.52%	33.83%
Swap rate	2.19%	2.00%
Mortality multiplier	80.00%	80.00%
Surrender rates	75.00%	75.00%
Non-performance spread	0.25%	0.25%
Income Approach Valuation Technique | Weighted Average | Fixed Index Annuity
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market value of option	1.54%	1.01%
Swap rate	1.96%	1.69%
Mortality multiplier	80.00%	80.00%
Surrender rates	10.09%	10.13%
Non-performance spread	0.25%	0.25%
Income Approach Valuation Technique | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 61	$ 66
Valuation Technique	Matrix Pricing	Matrix Pricing
Income Approach Valuation Technique | Corporates | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix pricing	105.00%	104.58%
Income Approach Valuation Technique | Corporates | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix pricing	141.17%	142.43%
Income Approach Valuation Technique | Corporates | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix pricing	109.05%	110.03%
Income Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 6	$ 6
Valuation Technique	Matrix Pricing	Matrix Pricing
Matrix pricing	100.00%	100.00%
Income Approach Valuation Technique | Other invested assets
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 11	$ 10
Valuation Technique	Black-Scholes model	Black-Scholes Model
Black Scholes model	100.00%	100.00%
Salus Capital Partners LLC | Market Approach Valuation Technique | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 25	$ 28
Valuation Technique	Third-Party Valuation	Third-Party Valuation
Brokered quotes		41.80%
Discount rate	17.00%	15.00%
Probability of default	2.00%	2.00%
RSH recovery	30.00%	30.00%
Salus Capital Partners LLC | Market Approach Valuation Technique | Asset-backed securities | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	36.62%
Other loan recoveries	4.00%	4.00%
Salus Capital Partners LLC | Market Approach Valuation Technique | Asset-backed securities | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	36.63%
Other loan recoveries	100.00%	100.00%
Salus Capital Partners LLC | Market Approach Valuation Technique | Asset-backed securities | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	36.63%
Salus Capital Partners LLC | Market Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value		$ 3
Valuation Technique		Market-approach
Salus Capital Partners LLC | Market Approach Valuation Technique | Other invested assets
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 69	$ 104
Valuation Technique	Market Pricing	Market Pricing
Brokered quotes	100.00%	100.00%
Salus Capital Partners LLC | Income Approach Valuation Technique | Equities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 5
Valuation Technique	Market-approach	Market-approach
Discount rate	17.00%	15.00%
RSH recovery	30.00%	30.00%
Yield	17.20%	11.00%
CLO equity percentage	41.80%	41.80%

Fair Value of Financial Instr54

Fair Value of Financial Instruments - Changes to Fair Value of Financial Instruments Level 3 (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	$ 1,348	$ 1,292
Total Gains (Losses) Included in Earnings	(6)	1
Total Gains (Losses) Included in AOCI	(11)	9
Purchases	88	156
Sales	0	0
Settlements	(60)	(34)
Net transfer In (Out) of Level 3	4	(6)
Balance at End of Period	1,363	1,418
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	2,149	1,908
Total Gains (Losses) Included in Earnings	51	232
Total Gains (Losses) Included in AOCI	0	0
Purchases	0	0
Sales	0	0
Settlements	0	0
Net transfer In (Out) of Level 3	0	0
Balance at End of Period	2,200	2,140
FIA embedded derivatives, included in contractholder funds
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	2,149	1,908
Total Gains (Losses) Included in Earnings	51	232
Total Gains (Losses) Included in AOCI	0	0
Purchases	0	0
Sales	0	0
Settlements	0	0
Net transfer In (Out) of Level 3	0	0
Balance at End of Period	2,200	2,140
Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	38	74
Total Gains (Losses) Included in Earnings	(4)	0
Total Gains (Losses) Included in AOCI	0	0
Purchases	22	3
Sales	0	0
Settlements	0	0
Net transfer In (Out) of Level 3	23	(6)
Balance at End of Period	79	71
Commercial mortgage-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	144	83
Total Gains (Losses) Included in Earnings	0	0
Total Gains (Losses) Included in AOCI	0	1
Purchases	0	36
Sales	0	0
Settlements	(1)	0
Net transfer In (Out) of Level 3	(4)	0
Balance at End of Period	139	120
Corporates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	964	834
Total Gains (Losses) Included in Earnings	0	0
Total Gains (Losses) Included in AOCI	(13)	9
Purchases	44	61
Sales	0	0
Settlements	(8)	(3)
Net transfer In (Out) of Level 3	(15)	0
Balance at End of Period	972	901
Municipals
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	39	37
Total Gains (Losses) Included in Earnings	0	0
Total Gains (Losses) Included in AOCI	(1)	2
Purchases	0	0
Sales	0	0
Settlements	0	0
Net transfer In (Out) of Level 3	0	0
Balance at End of Period	38	39
Equities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	34	40
Total Gains (Losses) Included in Earnings	0	0
Total Gains (Losses) Included in AOCI	2	(2)
Purchases	4	0
Sales	0	0
Settlements	0	0
Net transfer In (Out) of Level 3	0	0
Balance at End of Period	40	38
Available-for-sale embedded derivative
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	10	11
Total Gains (Losses) Included in Earnings	1	1
Total Gains (Losses) Included in AOCI	0	0
Purchases	0	0
Sales	0	0
Settlements	0	0
Net transfer In (Out) of Level 3	0	0
Balance at End of Period	11	12
Salus participations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	119	213
Total Gains (Losses) Included in Earnings	(3)	0
Total Gains (Losses) Included in AOCI	1	(1)
Purchases	18	56
Sales	0	0
Settlements	(51)	(31)
Net transfer In (Out) of Level 3	0	0
Balance at End of Period	$ 84	$ 237

Fair Value of Financial Instr55

Fair Value of Financial Instruments - Changes in Assets and Liabilities Recorded at Other Than Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial mortgage loans	$ 602	$ 490
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial mortgage loans	0	0
Policy loans, included in other invested assets	0	0
Limited partnership investment, included in other invested assets	0	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]
Commercial mortgage loans	0	0
Policy loans, included in other invested assets	0	0
Limited partnership investment, included in other invested assets	0	0
Related party loans	0	0
Total	0	0
Investment contracts, included in contractholder funds	0	0
Debt	307	312
Total	307	312
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial mortgage loans	602	490
Policy loans, included in other invested assets	9	9
Limited partnership investment, included in other invested assets	8	4
Related party loans	81	78
Total	700	581
Investment contracts, included in contractholder funds	14,168	14,126
Debt	0	0
Total	14,168	14,126
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial mortgage loans	602	490
Policy loans, included in other invested assets	9	9
Limited partnership investment, included in other invested assets	8	4
Related party loans	81	78
Total	700	581
Investment contracts, included in contractholder funds	14,168	14,126
Debt	307	312
Total	14,475	14,438
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial mortgage loans	616	491
Policy loans, included in other invested assets	11	11
Limited partnership investment, included in other invested assets	8	4
Related party loans	81	78
Total	716	584
Investment contracts, included in contractholder funds	15,761	15,621
Debt	300	300
Total	$ 16,061	$ 15,921

Fair Value of Financial Instr56

Fair Value of Financial Instruments - Narrative (Detail)	3 Months Ended
	Dec. 31, 2015USD ($)Securityloan$ / Contract	Dec. 31, 2014USD ($)	Sep. 30, 2015loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of loans past due | loan	0		0
Transfers, assets, from level 1 and 2	$ 0	$ 0
Transfers, assets, from level 2 and 1	0	0
Transfers, liabilities, from level 1 and 2	0	0
Transfers, liabilities, from level 2 and 1	$ 0	0
Transfer into level 3 (in securities) | Security	1
Transfer into level 3	$ 23,000,000
Transfer out of level 3 (in securities) | Security	3
Transfer out of level 3	$ (19,000,000)
Net transfer In (Out) of Level 3	4,000,000	(6,000,000)
Equities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net transfer In (Out) of Level 3	0	0
Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net transfer In (Out) of Level 3	$ 23,000,000	$ (6,000,000)
Market Approach Valuation Technique | Asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loan duration (less than)	1 year
Income Approach Valuation Technique | Other invested assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Option strike price (in dollars per share) | $ / Contract	0

Intangible Assets - Summary of

Intangible Assets - Summary of Changes in Carrying Amounts of Intangible Assets Including DAC, VOBA , and DSI (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Movement in Present Value of Future Insurance Profits [Roll Forward]
VOBA - beginning of period	$ 187	$ 59
VOBA - deferrals	0	0
VOBA - adjustment for unrealized gains (losses)	1	7
VOBA - end of period	172	59
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC - beginning of period	801	456
DAC - deferrals	80	93
DAC - adjustment for unrealized gains (losses)	134	(6)
DAC - end of period	990	534
Movement Analysis of Deferred Policy Acquisition Costs and Present Value of Future Profits [Roll Forward]
VOBA and DAC - beginning of period	988	515
VOBA and DAC - deferrals	80	93
VOBA and DAC - adjustment for unrealized gains (losses)	135	1
VOBA and DAC - end of period	1,162	593
Accumulated amortization	407	361
Unlocking
Movement in Present Value of Future Insurance Profits [Roll Forward]
VOBA - amortization	6	1
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC - amortization	0	(2)
Movement Analysis of Deferred Policy Acquisition Costs and Present Value of Future Profits [Roll Forward]
VOBA and DAC - amortization	6	(1)
Interest
Movement in Present Value of Future Insurance Profits [Roll Forward]
VOBA - amortization	3	3
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC - amortization	8	5
Movement Analysis of Deferred Policy Acquisition Costs and Present Value of Future Profits [Roll Forward]
VOBA and DAC - amortization	11	8
Amortization
Movement in Present Value of Future Insurance Profits [Roll Forward]
VOBA - amortization	(25)	(11)
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC - amortization	(33)	(12)
Movement Analysis of Deferred Policy Acquisition Costs and Present Value of Future Profits [Roll Forward]
VOBA and DAC - amortization	$ (58)	$ (23)

Intangible Assets - Estimated A

Intangible Assets - Estimated Amortization Expense for VOBA in Future Fiscal Periods (Detail) - VOBA $ in Millions	Dec. 31, 2015USD ($)
Schedule Of Amortization Expense And Weighted Average Lives Of Identified Intangible Assets [Line Items]
2,016	$ 22
2,017	26
2,018	22
2,019	18
2,020	14
Thereafter	$ 68

Intangible Assets - Narrative (

Intangible Assets - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Sep. 30, 2015
VOBA
Finite-Lived Intangible Assets [Line Items]
Cumulative adjustments for net unrealized loss	$ 2	$ 1
DAC
Finite-Lived Intangible Assets [Line Items]
Cumulative adjustments for net unrealized loss	133
Cumulative adjustments for net unrealized investment gains		(1)
Deferred sales inducements, net of shadow adjustments	$ 65	$ 59
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 18 days

Debt - Schedule of Long Term De

Debt - Schedule of Long Term Debt (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015
Line of Credit Facility [Line Items]
Debt	$ 300		$ 300
Interest Expense	5	$ 5
Amortization	1	1
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit	0		$ 0
Interest Expense	0	0
Amortization	$ 0	$ 0

Debt - Narrative (Detail)

Debt - Narrative (Detail) - Revolving Credit Facility - USD ($)	Dec. 31, 2015	Sep. 30, 2015
Debt Instrument [Line Items]
Interest rate at end of period	5.50%	5.25%
Line of credit	$ 0	$ 0
Remaining borrowing capacity	$ 150,000,000	$ 150,000,000

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 02, 2016	Dec. 14, 2015	Nov. 12, 2015	Dec. 15, 2014	Nov. 18, 2014	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2015	Nov. 30, 2015	Sep. 30, 2015	Dec. 01, 2014	Sep. 02, 2014
Class of Stock [Line Items]
Shares repurchased during period							512,000	534,000
Amount of treasury shares purchased						$ 1
Shares outstanding						47,000,000		47,000,000
Common stock, shares outstanding (shares)						58,963,902		58,963,902	58,144,000	58,870,823	58,279,000
Cash dividend per common share ($ per share)			$ 0.065		$ 0.065
Cash paid on common dividend		$ 4		$ 4
Treasury Stock
Class of Stock [Line Items]
Amount of treasury shares purchased						$ 1	$ 11	$ 12
September 2014 Repurchase Plan
Class of Stock [Line Items]
Number of shares authorized to be repurchased												500,000
Shares repurchased during period							500,000
Stock Compensation Plan
Class of Stock [Line Items]
Shares repurchased during period						22,000	12,000
Amount of treasury shares purchased						$ 1
HRG
Class of Stock [Line Items]
Ownership of FGL by parent						80.00%		80.00%
Subsequent Event
Class of Stock [Line Items]
Cash dividend per common share ($ per share)	$ 0.065

Stock Compensation - Schedule o

Stock Compensation - Schedule of Stock Based Compensation Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	$ 4	$ 6
Related tax benefit	1	2
Net stock compensation expense	3	4
FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	2	2
FGL Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	0
FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	1	1
FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	1	1
FGL Plan | Unrestricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	0
2011 Stock Incentive Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	1
2011 Dividend Equivalent Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	0
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	1	2
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	1	1
2012 Dividend Equivalent Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	0
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	$ 2	$ 4

Stock Compensation - Summary of

Stock Compensation - Summary of Unrecognized Stock Compensation Expense (Details) $ in Millions	3 Months Ended
	Dec. 31, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 8
Weighted Average Recognition Period in Years	1 year
FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 8
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	$ 3
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	$ 4
Weighted Average Recognition Period in Years	1 year
FGL Plan | Unrestricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 0
2011 Stock Incentive Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	0
2011 Dividend Equivalent Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	0
2011 Stock Incentive Plan, Amended and Restated | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 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	0 years
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 0

Stock Compensation - Summary 65

Stock Compensation - Summary of Stock Options Outstanding and Related Activity (Detail) - Stock Option Awards shares in Thousands	3 Months Ended
	Dec. 31, 2015$ / sharesshares
FGL Plan
Options Roll Forward:
Stock options outstanding at beginning of period (in shares) | shares	317
Granted (in shares) | shares	119
Exercised (in shares) | shares	(75)
Forfeited or expired (in shares) | shares	(4)
Stock options outstanding at end of period (in shares) | shares	357
Vested and exercisable at end of period (in shares) | shares	108
Vested or expected to vest at end of period (in shares) | shares	351
Weighted Average Exercise Price:
Stock options outstanding at beginning of period (USD per share) | $ / shares	$ 21.60
Granted (USD per share) | $ / shares	25.75
Exercised (USD per share) | $ / shares	24.43
Forfeited or expired (USD per share) | $ / shares	22.76
Stock options outstanding at end of period (USD per share) | $ / shares	22.37
Vested and exercisable at end of period (USD per share) | $ / shares	19.39
Vested or expected to vest at end of period (USD per share) | $ / shares	$ 22.36
FGLH Plan
Options Roll Forward:
Stock options outstanding at beginning of period (in shares) | shares	87
Granted (in shares) | shares	0
Exercised (in shares) | shares	0
Forfeited or expired (in shares) | shares	0
Stock options outstanding at end of period (in shares) | shares	87
Vested and exercisable at end of period (in shares) | shares	86
Vested or expected to vest at end of period (in shares) | shares	86
Weighted Average Exercise Price:
Stock options outstanding at beginning of period (USD per share) | $ / shares	$ 45.04
Granted (USD per share) | $ / shares	0
Exercised (USD per share) | $ / shares	0
Forfeited or expired (USD per share) | $ / shares	49.45
Stock options outstanding at end of period (USD per share) | $ / shares	45.01
Vested and exercisable at end of period (USD per share) | $ / shares	44.98
Vested or expected to vest at end of period (USD per share) | $ / shares	$ 45.01

Stock Compensation - Assumption

Stock Compensation - Assumptions Used in Determination of Grant Date Fair Values Using Black-Scholes Option Pricing Model (Detail)	3 Months Ended
	Dec. 31, 2015$ / shares
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per options granted	$ 88.34
Share Price	$ 25.37
Risk-free interest rate	0.47%
Assumed dividend yield	1.14%
Expected option term	6 months
Volatility	14.55%
FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per options granted	$ 1.01
Risk-free interest rate	0.42%
Assumed dividend yield	1.14%
Expected option term	6 months
Volatility	14.55%
FGL | FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 134

Stock Compensation - Summary 67

Stock Compensation - Summary of Restricted Stock and Restricted Stock Units Outstanding and Related Activity (Detail) shares in Thousands	3 Months Ended
	Dec. 31, 2015$ / sharesshares
FGL Plan | Performance Shares
Shares:
Restricted shares outstanding at beginning of period (in shares) | shares	515
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Restricted shares outstanding at end of period (in shares) | shares	515
Weighted Average Grant Date Fair Value:
Average grant date fair value outstanding at beginning of period (USD per share) | $ / shares	$ 17.69
Average grant date fair value, Granted (USD per share) | $ / shares	0
Average grant date fair value, Vested (USD per share) | $ / shares	0
Average grant date fair value, Forfeited or Expired (USD per share) | $ / shares	0
Average grant date fair value outstanding at end of period (USD per share) | $ / shares	$ 17.69
FGL Plan | Restricted stock units
Shares:
Restricted shares outstanding at beginning of period (in shares) | shares	246
Granted (in shares) | shares	26
Vested (in shares) | shares	(91)
Forfeited (in shares) | shares	(9)
Restricted shares outstanding at end of period (in shares) | shares	172
Weighted Average Grant Date Fair Value:
Average grant date fair value outstanding at beginning of period (USD per share) | $ / shares	$ 21.92
Average grant date fair value, Granted (USD per share) | $ / shares	25.75
Average grant date fair value, Vested (USD per share) | $ / shares	21.37
Average grant date fair value, Forfeited or Expired (USD per share) | $ / shares	22.54
Average grant date fair value outstanding at end of period (USD per share) | $ / shares	$ 22.77
FGLH Plan | Restricted stock units
Shares:
Restricted shares outstanding at beginning of period (in shares) | shares	11
Granted (in shares) | shares	0
Vested (in shares) | shares	(11)
Forfeited (in shares) | shares	0
Restricted shares outstanding at end of period (in shares) | shares	0
Weighted Average Grant Date Fair Value:
Average grant date fair value outstanding at beginning of period (USD per share) | $ / shares	$ 49.57
Average grant date fair value, Granted (USD per share) | $ / shares	0
Average grant date fair value, Vested (USD per share) | $ / shares	49.45
Average grant date fair value, Forfeited or Expired (USD per share) | $ / shares	49.45
Average grant date fair value outstanding at end of period (USD per share) | $ / shares	$ 61.15

Stock Compensation - Narrative

Stock Compensation - Narrative (Details) - USD ($) $ in Millions	Feb. 11, 2015	Nov. 19, 2014	Feb. 11, 2014	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit from share-based compensation expense				$ 1	$ 2
Total Investment, Fair Value				$ 18,937		$ 19,091
FGL Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized				2,838,000
Awards available to grant				1,204,000
FGL Plan | Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)				119,000
Options outstanding intrinsic value				$ 1
Options exercisable intrinsic value				1
Options vested and expected to vest intrinsic value				$ 1
Options outstanding weighted average remaining contractual term				6 years
Options exercisable weighted average remaining contractual term				5 years
Options vested and expected to vest weighted average remaining contractual term				6 years
Options exercises in period intrinsic value				$ 0
Cash received from exercise of stock options				2
Tax benefit from share-based compensation expense				$ 0
FGL Plan | Stock Option Awards | Directors, Officers, and Other Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)				119,000	176,000
Award vesting period			3 years
Fair value at grant date (options)				$ 0	$ 1
FGL Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants (in shares)				26,000
Fair value at grant date (other than options)				$ 1	$ 6
FGL Plan | Restricted stock units | First anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rates, percent		20.00%
FGL Plan | Restricted stock units | Second anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rates, percent		50.00%
FGL Plan | Restricted stock units | Third anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rates, percent		30.00%
FGL Plan | Restricted stock units | Directors, Officers, and Other Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years
Restricted stock unit grants (in shares)				26,000	138,000
FGL Plan | Restricted stock units | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					1 year
Restricted stock unit grants (in shares)						12,000
FGL Plan | Restricted stock units | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants (in shares)					100,000
FGL Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants (in shares)				0
FGL Plan | Performance Shares | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value at grant date (options)					$ 1
Restricted stock unit grants (in shares)					32,000
FGL Plan | Performance Shares | Officer | Annual Performance Result
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rates, percent				50.00%
FGL Plan | Performance Shares | Officer | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rates, percent				0.00%
FGL Plan | Performance Shares | Officer | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rates, percent				200.00%
FGL Plan | Unrestricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value at grant date (other than options)	$ 0
FGL Plan | Unrestricted Shares | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants (in shares)					8,000
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value assumptions, discount for liquidity of shares				5.00%		10.00%
Payments for restricted stock units				$ 2	$ 1
FGLH Plan | Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)				0
Options outstanding intrinsic value				$ 8
Options exercisable intrinsic value				8
Options vested and expected to vest intrinsic value				$ 8
Options outstanding weighted average remaining contractual term				4 years
Options exercisable weighted average remaining contractual term				4 years
Options vested and expected to vest weighted average remaining contractual term				4 years
Options exercises in period intrinsic value				$ 0	$ 0
FGLH Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants (in shares)				0

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Tax rate	34.00%	39.00%
Unrealized build in gains on AFS, amount realized in period	$ 72
Income tax (benefit) on unrealized build in gains on AFS	72
Valuation allowance	(48)
Deferred gross tax assets	$ 334

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Aug. 10, 2015	Jan. 07, 2015	Dec. 31, 2015
Loss Contingencies [Line Items]
Accrued amount of guaranty fund assessments			$ 3
Estimated future premium tax deductions			3
Cressy v. FGL et. al
Loss Contingencies [Line Items]
Settlement for/(against)			4
Estimated litigation liability			2
Legal fees			4
Settlement payments	$ 1		3
Cressy v. FGL et. al | Pending Litigation
Loss Contingencies [Line Items]
Estimate of possible liability			9
Dale R. Ludwick v. HRG, FGL, Raven Reinsurance Company, and Front Street Re (Cayman) Ltd
Loss Contingencies [Line Items]
Estimated litigation liability			$ 1
Plaintiff damage claims		$ 0

Commitments and Contingencies71

Commitments and Contingencies - Schedule of Investment Commitments (Details) - Commitment to Invest $ in Millions	Dec. 31, 2015USD ($)
Other Commitments [Line Items]
Total	$ 126
Other invested assets
Other Commitments [Line Items]
Total	87
Other assets
Other Commitments [Line Items]
Total	$ 39

Reinsurance - Effect of Reinsur

Reinsurance - Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Insurance Premiums:
Direct	$ 64	$ 63
Assumed	0	9
Ceded	(49)	(61)
Net	15	11
Benefits and Other Changes in Insurance Policy Reserves:
Direct	247	293
Assumed	0	7
Ceded	(66)	(76)
Net	$ 181	$ 224

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details)	3 Months Ended
	Dec. 31, 2015USD ($)policy	Dec. 31, 2014USD ($)
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Write-off of reinsurance	$ 0	$ 0
Ceded reinsurance commuted	$ 49,000,000	61,000,000
Policies reinsured by foreign company not engaged in insurance | policy	0
Life and Annuity Insurance Product Line
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Ceded reinsurance commuted	$ 0	$ 0

Related Party Transactions - Su

Related Party Transactions - Summary of Affiliated Entity Operations (Details) - Front Street RE (Cayman) Ltd. - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Premiums	$ 0	$ 0
Net investment income	17	16
Net investment gains	1	6
Insurance and investment product fees	1	1
Total revenues	19	23
Benefits and other changes in policy reserves	(13)	(15)
Acquisition & operating expenses, net of deferrals	(1)	(1)
Total benefits and expenses	(14)	(16)
Operating income	$ 5	$ 7

Related Party Transactions - Re

Related Party Transactions - Related Party Investments (Details) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2015USD ($)borrower	Dec. 31, 2014USD ($)	Sep. 30, 2015USD ($)borrower
Salus participations
Related Party Transaction [Line Items]
Number of borrowers in loan participations | borrower	12		17
Average loan balance	$ 6		$ 6
HGI energy loan | Front Street RE (Cayman) Ltd.
Related Party Transaction [Line Items]
Asset carrying value	28		20
Fixed maturities, available-for-sale | Salus CLOs
Related Party Transaction [Line Items]
Asset carrying value	164		245
Accrued Investment Income	0		0
Total carrying value	164		245
Net investment income	3	$ 3
Fixed maturities, available-for-sale | Fortress Investment Group CLOs
Related Party Transaction [Line Items]
Asset carrying value	184		181
Accrued Investment Income	2		2
Total carrying value	186		183
Net investment income	2	2
Equities | Salus preferred equity
Related Party Transaction [Line Items]
Asset carrying value	5		3
Accrued Investment Income	0		0
Total carrying value	5		3
Other invested assets
Related Party Transaction [Line Items]
Asset carrying value	12
Accrued Investment Income	0
Total carrying value	12
Other invested assets | Salus participations
Related Party Transaction [Line Items]
Asset carrying value	76		110
Accrued Investment Income	1		1
Total carrying value	77		111
Net investment income	1	5
Other invested assets | Energy & Infrastructure Capital (EIC) participations
Related Party Transaction [Line Items]
Asset carrying value	8		9
Accrued Investment Income	0		0
Total carrying value	8		9
Related party loans
Related Party Transaction [Line Items]
Asset carrying value			11
Accrued Investment Income			0
Total carrying value			11
Related party loans | HGI energy loan
Related Party Transaction [Line Items]
Asset carrying value	78		70
Accrued Investment Income	0		1
Total carrying value	78		71
Net investment income	1	1
Related party loans | Salus 2012 participations
Related Party Transaction [Line Items]
Asset carrying value			4
Accrued Investment Income			0
Total carrying value			4
Related party loans | Salus promissory note
Related Party Transaction [Line Items]
Asset carrying value	3		3
Accrued Investment Income	0		0
Total carrying value	3		$ 3
Net investment income	$ 0	$ 1

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015	Feb. 27, 2015
Related Party Transaction [Line Items]
Reinsurance recoverable		$ 3,552		$ 3,579
Funds withheld for reinsurance liabilities		1,251		1,267
Other-than-temporary impairments		10	$ 0
Foreign Exchange Contract | Net Realized Investment Gains | Other invested assets
Related Party Transaction [Line Items]
Loss on derivative		(2)	(1)
Other Embedded Derivative | Net Realized Investment Gains | Other invested assets
Related Party Transaction [Line Items]
Gain on derivative		2	$ 1
Salus preferred equity
Related Party Transaction [Line Items]
Dividend rate on preferred stock	10.00%
Asset par value	$ 30
Front Street RE (Cayman) Ltd.
Related Party Transaction [Line Items]
Reinsurance recoverable		1,198		1,227
Funds withheld for reinsurance liabilities		$ 1,242		$ 1,258
Salus Capital Partners LLC | Salus Loan Participation, CLO Subordinated Debt
Related Party Transaction [Line Items]
Salus loan participations					$ 14
Salus CLO					16
Salus promissory note					20
Salus line of credit					10
Salus Capital Partners LLC | FGL Loan Participation, CLO Subordinated Debt and Salus Promissory Note
Related Party Transaction [Line Items]
Salus loan participations					29
Salus CLO					27
Salus promissory note					$ 2

Earnings Per Share - Summary of

Earnings Per Share - Summary of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Net income	$ 48	$ 14
Weighted-average common shares outstanding - basic (shares)	58,219,260	58,283,327
Dilutive effect of unvested restricted stock & PRSU (shares)	294,000	140,000
Dilutive effect of stock options (shares)	30,000	31,000
Weighted-average shares outstanding - diluted (shares)	58,542,588	58,453,554
Net income per common share:
Basic (in dollars per share)	$ 0.82	$ 0.24
Diluted (in dollars per share)	$ 0.82	$ 0.24

Earnings Per Share -Narrative (

Earnings Per Share -Narrative (Details) - shares shares in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Stock Option Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from EPS	4	11

Insurance Subsidiary Financia79

Insurance Subsidiary Financial Information and Regulatory Matters - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015	Apr. 06, 2011
Statutory Accounting Practices [Line Items]
Change in statutory capital and surplus for permitted practice	$ 220	$ 226
Change in statutory capital and surplus for non-permitted practice	(14)	(33)
Change in statutory capital and surplus balance is permitted practice was determined to be non-permitted	210	196
Increase (decrease) as a result of redomestication by entity	42
Unassigned balance netted against additional paid in capital			$ 806
Iowa
Statutory Accounting Practices [Line Items]
Change in statutory capital and surplus for permitted practice	$ 4	$ 2

Uncategorized Items - hrg-20151

Label	Element	Value
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	$ 2,000,000
Additional Paid-in Capital [Member]
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	$ 2,000,000