Fidelity & Guaranty Life 10-Q 4 May 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2017	May 01, 2017
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
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		58,991,639

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Investments:
Fixed maturity securities, available-for-sale, at fair value (amortized cost: March 31, 2017 - $19,501; September 30, 2016 - $18,521)	$ 20,052	$ 19,411
Equity securities, available-for-sale, at fair value (amortized cost: March 31, 2017 - $682; September 30, 2016 - $640)	712	683
Derivative investments	351	276
Commercial mortgage loans	579	595
Other invested assets	119	60
Total investments	21,813	21,025
Related party loans	71	71
Cash and cash equivalents	887	864
Accrued investment income	225	214
Reinsurance recoverable	3,426	3,464
Intangibles, net	1,184	1,026
Deferred tax assets, net	87	0
Other assets	204	371
Total assets	27,897	27,035
LIABILITIES AND SHAREHOLDERS' EQUITY
Contractholder funds	20,052	19,251
Future policy benefits	3,435	3,467
Funds withheld for reinsurance liabilities	1,134	1,172
Liability for policy and contract claims	60	55
Debt	300	300
Revolving credit facility	105	100
Deferred tax liability, net	0	10
Other liabilities	903	746
Total liabilities	25,989	25,101
Commitments and contingencies (Note 12)
Shareholders' equity:
Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued at March 31, 2017 and September 30, 2016)	0	0
Common stock ($.01 par value, 500,000,000 shares authorized, 58,991,806 issued and outstanding at March 31, 2017; 58,956,127 shares issued and outstanding at September 30, 2016)	1	1
Additional paid-in capital	715	714
Retained earnings	914	792
Accumulated other comprehensive income	291	439
Treasury stock, at cost (568,847 shares at March 31, 2017; 537,613 shares at September 30, 2016)	(13)	(12)
Total shareholders' equity	1,908	1,934
Total liabilities and shareholders' equity	$ 27,897	$ 27,035

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Statement of Financial Position [Abstract]
Fixed Maturities (amortized cost)	$ 19,501	$ 18,521
Equity Securities (amortized cost)	$ 682	$ 640
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	50,000,000	50,000,000
Preferred stock, shares issued (shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	500,000,000	500,000,000
Common stock, shares issued (shares)	58,991,806	58,956,127
Common stock, shares outstanding (shares)	58,991,806	58,956,127
Treasury stock, shares (shares)	568,847	537,613

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Premiums	$ 3	$ 16	$ 14	$ 31
Net investment income	247	227	487	449
Net investment gains (losses)	81	(42)	132	21
Insurance and investment product fees and other	44	32	82	61
Total revenues	375	233	715	562
Benefits and expenses:
Benefits and other changes in policy reserves	268	188	288	369
Acquisition and operating expenses, net of deferrals	33	27	61	55
Amortization of intangibles	33	(3)	156	38
Total benefits and expenses	334	212	505	462
Operating income	41	21	210	100
Interest expense	(6)	(6)	(12)	(12)
Income before income taxes	35	15	198	88
Income tax expense	(13)	(6)	(68)	(31)
Net income	$ 22	$ 9	$ 130	$ 57
Net income per common share:
Basic (in dollars per share)	$ 0.38	$ 0.16	$ 2.23	$ 0.98
Diluted (in dollars per share)	$ 0.38	$ 0.16	$ 2.23	$ 0.98
Weighted average common shares used in computing net income per common share:
Basic (in shares)	58,326,396	58,306,784	58,303,213	58,262,922
Diluted (in shares)	58,382,130	58,610,762	58,374,519	58,573,472
Cash dividend per common share (in dollars per share)	$ 0.065	$ 0.065	$ 0.130	$ 0.130
Total other-than-temporary impairments	$ (21)	$ (1)	$ (22)	$ (11)
Portion of other-than-temporary impairments included in other comprehensive income	0	0	0	0
Net other-than-temporary impairments	(21)	(1)	(22)	(11)
Gains (losses) on derivative and embedded derivatives	99	(49)	150	21
Other realized investment gains	3	8	4	11
Total net investment gains (losses)	$ 81	$ (42)	$ 132	$ 21

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 22	$ 9	$ 130	$ 57
Unrealized investment gains/(losses):
Change in unrealized investment gains/losses before reclassification adjustment	298	247	(365)	(126)
Net reclassification adjustment for gains included in net income	18	(7)	16	0
Changes in unrealized investment gains/losses after reclassification adjustment	316	240	(349)	(126)
Adjustments to intangible assets	(101)	(79)	124	56
Changes in deferred income tax asset/liability	(77)	(56)	77	25
Net changes to derive comprehensive income (loss) for the period	138	105	(148)	(45)
Comprehensive income (loss) net of tax	$ 160	$ 114	$ (18)	$ 12

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) - 6 months ended Mar. 31, 2017 - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock
Beginning Balance at Sep. 30, 2016	$ 1,934	$ 0	$ 1	$ 714	$ 792	$ 439	$ (12)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury shares purchased	(1)						(1)
Dividends	(8)				(8)
Net income	130				130
Unrealized investment losses, net	(148)					(148)
Stock compensation	1			1
Ending Balance at Mar. 31, 2017	$ 1,908	$ 0	$ 1	$ 715	$ 914	$ 291	$ (13)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 130	$ 57
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	2	5
Amortization	(13)	(24)
Deferred income taxes	(19)	25
Interest credited/index credit to contractholder account balances and other reserve movements	230	291
Net recognized (gains) on investments and derivatives	(132)	(21)
Charges assessed to contractholders for mortality and administration	(64)	(50)
Deferred policy acquisition costs, net of related amortization	(34)	(126)
Changes in operating assets and liabilities:
Reinsurance recoverable	(12)	5
Future policy benefits	(32)	(5)
Funds withheld from reinsurers	(41)	(49)
Collateral posted	57	65
Other assets and other liabilities	60	(7)
Net cash provided by operating activities	132	166
Cash flows from investing activities:
Proceeds from commercial mortgage loans	16	5
Costs of commercial mortgage loans	0	(87)
Related party loans	0	(4)
Capital expenditures	(6)	(4)
Net cash (used in) investing activities	(776)	(564)
Cash flows from financing activities:
Treasury stock	(1)	(1)
Common stock issued under employee plans	0	2
Draw on revolving credit facility	5	0
Dividends paid	(8)	(8)
Contractholder account deposits	1,493	1,253
Contractholder account withdrawals	(822)	(854)
Net cash provided by financing activities	667	392
Change in cash & cash equivalents	23	(6)
Cash & cash equivalents, beginning of period	864	502
Cash & cash equivalents, end of period	887	496
Supplemental disclosures of cash flow information
Interest paid	11	10
Taxes paid	0	1
Deferred sales inducements	5	14
Available-for-sale Securities
Cash flows from investing activities:
Proceeds from sale, maturity and collection of investments	1,327	1,282
Payments to acquire investments	(2,141)	(1,715)
Derivative and other
Cash flows from investing activities:
Proceeds from sale, maturity and collection of investments	209	105
Payments to acquire investments	$ (181)	$ (146)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2017
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, 2016 (“2016 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 is licensed in all fifty states and the District of Columbia. As previously disclosed, on April 17, 2017, FGL terminated its Agreement and Plan of Merger (as amended, “Merger Agreement” and the merger contemplated thereby, the "Merger"), by and among FGL, Anbang Insurance Group Co., Ltd. and its affiliates (collectively, “Anbang”). Prior to its termination, the Merger Agreement was amended on November 3, 2016 and on February 9, 2017, each time to extend the outside termination date. As part of the February 9, 2017 amendment, the Merger Agreement was also amended to permit FGL to explore and negotiate strategic alternatives with other parties, but not to enter into a definitive agreement with a third party while the Merger Agreement was in effect. As a result of the termination of the Merger Agreement, FGL has no remaining obligations under the Merger Agreement and may enter into an alternative transaction. In connection with the termination of the Merger Agreement, on April 17, 2017, FGL’s Board of Directors announced that it was continuing to evaluate strategic alternatives to maximize shareholder value and had received interest from a number of parties. There can be no assurance that FGL’s evaluation of strategic alternatives will result in a transaction, or that any transaction, if pursued, will be consummated. FGL’s evaluation of strategic alternatives may be terminated at any time with or without notice. FGL does not intend to disclose developments with respect to this process until such time that it determines otherwise in its sole discretion or as required by applicable law. In the opinion of management, these statements include all normal recurring adjustments necessary for a fair presentation of the Company’s results. Operating results for the three and six months ended March 31, 2017 , are not necessarily indicative of the results that may be expected for the full year ending September 30, 2017 . 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	6 Months Ended
	Mar. 31, 2017
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 and any variable interest entities ("VIEs") in which we are the primary beneficiary. All intercompany accounts and transactions have been eliminated in consolidation. We are involved in certain entities that are considered VIEs as defined under 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. If we determine we are the primary beneficiary of a VIE, we consolidate the assets and liabilities of the VIE in our consolidated financial statements. See "Note 4. Investments" to the Company’s unaudited Condensed Consolidated Financial Statements for additional information on the Company’s investments in unconsolidated VIEs. Adoption of New Accounting Pronouncements Share-Based Payments When a Performance Target is Achieved after the Requisite Service Period In June 2014, the FASB issued new guidance on Stock Compensation (ASU 2014-12, Accounting for Share-Based Payments When the Term of an Award Provide that a Performance Target Could Be Achieved after the Requisite Service Period ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. The new guidance requires performance targets that affect vesting and that could be achieved after the requisite service period to be treated as performance conditions. Such performance targets will not be included in the grant-date fair value calculation of the award, rather compensation cost will be recorded when it is probable the performance target will be reached and should represent the compensation cost attributable to period(s) for which the requisite service has already been rendered. The Company adopted this guidance effective October 1, 2016, as required. The adoption of ASU 2014-12 will not impact the Company's consolidated financial statements or related disclosures, as the Company has historically treated the performance targets for its share-based payment awards as a performance condition that affects vesting and has not reflected the targets in the grant-date fair value calculation of the awards. Amendments to the Consolidation Analysis In February 2015, the FASB issued amended consolidation guidance (ASU 2015-02, Amendments to the Consolidation Analysis ), effective for fiscal years beginning after December 15, 2015. The amended guidance changes the consolidation analysis of reporting entities with variable interest entity ("VIE") relationships by i) modifying the criteria used to evaluate whether limited partnerships and similar legal entities are VIEs or voting interest entities and revising the primary beneficiary determination of a VIE, ii) eliminating the specialized consolidation model and guidance for limited partnerships thereby removing the presumption that a general partner should consolidate a limited partnership, iii) reducing the criteria in the variable interest model contained in Accounting Standards Codification Topic 810, Consolidation , that is used to evaluate whether the fees paid to a decision maker or service provider represents a variable interest, and iv) exempting reporting entities from consolidating money market funds that operate in accordance with Rule 2a-7 of the Investment Company Act of 1940. The Company adopted ASU 2015-02 effective October 1, 2016, as required. The adoption of ASU 2015-02 will not impact the Company's consolidated financial statements or related disclosure as the Company determined that this new guidance does not change its conclusions regarding consolidation of its VIEs. Presentation of Debt Issuance Costs In April 2015, the FASB issued amended guidance (ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30 ), Simplifying the Presentation of Debt Issuance Costs ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. The amended guidance requires debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt discounts or premiums. The cost of issuing debt will no longer be recorded as a separate asset, except when incurred before the receipt of the funding from the associated debt liability. Instead, debt issuance costs will be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability, and the costs will be amortized to interest expense using the effective interest method. The Company adopted ASU 2015-03 effective October 1, 2016, as required. The Company retrospectively considered adjustments to adjust its historical balance sheets to present deferred debt issuance costs related to the Company's debt as a reduction of the debt liability. As the Company's debt issuance costs were fully amortized as of the period ended September 30, 2016, there is no impact to the current period financial statements. Accounting for Fees Paid in Cloud Computing Arrangements In April 2015, the FASB issued amended guidance (ASU 2015-05, Customer's Accounting for Fees Paid in a Cloud Computing Arrangement ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. Previous GAAP did not include explicit guidance regarding a customer's accounting for fees paid in a cloud computing arrangement, which may include software as a service, platform as a service, infrastructure as a service, and other similar hosting arrangements. The adopted guidance addresses whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The Company prospectively adopted ASU 2015-05 effective as of October 1, 2016, as required, for all new or materially modified cloud computing arrangements that contain a software license component. Investments That Calculate Net Asset Value per Share In May 2015, the FASB issued amended guidance (ASU 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. Previous GAAP required that investments for which fair value is measured at net asset value (or its equivalent) using the practical expedient in Topic 820 be categorized within the fair value hierarchy using criteria that differ from the criteria used to categorize other fair value measurements within the hierarchy. Previously, investments valued using the practical expedient were categorized within the fair value hierarchy on the basis of whether the investment is redeemable with the investee at net asset value on the measurement date, never redeemable with the investee at net asset value, or redeemable with the investee at net asset value at a future date. For investments that are redeemable with the investee at a future date, a reporting entity will take into account the length of time until those investments become redeemable to determine the classification within the fair value hierarchy. There is diversity in practice related to how certain investments measured at net asset value with redemption dates in the future (including periodic redemption dates) are categorized within the fair value hierarchy. Under the amendments in this Update, investments for which fair value will be measured at net asset value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Removing those investments from the fair value hierarchy not only eliminates the diversity in practice resulting from the way in which investments measured at net asset value per share (or its equivalent) with future redemption dates are classified, but also ensures that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share (or its equivalent), but for which the practical expedient is not applied will continue to be included in the fair value hierarchy. The Company adopted ASU 2015-07 effective October 1, 2016, as required, and has updated the fair value disclosures to reflect the amended guidance. Refer to "Note 6. Fair Value of Financial Instruments" for further details. Future Adoption of Accounting Pronouncements Presentation of Changes in Restricted Cash on the Cash Flow Statement In November 2016, the FASB issued amended guidance (ASU 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash ), effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The ASU will require amounts generally described as changes in restricted cash and restricted cash equivalents to be included with cash and cash equivalents on the statement of cash flows. The amendments in this ASU may be early adopted during any period or interim period, however, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The amendments should be applied using a retrospective transition method to each period presented. The Company will not early adopt this standard. The adoption of this guidance is not expected to have a material impact on the Company's consolidated statements of cash flows. Technical Corrections and Improvements In December 2016, the FASB issued new guidance on the Simplification of Topics Within Insurance and Debt Restructuring (ASU 2016-19, Technical Corrections and Improvements ), effective upon issuance for most amendments in the Update. For several items requiring transition guidance, the ASU identifies adoption dates specific to those items. The amendments cover a wide range of topics in the Accounting Standards Codification ("ASC") and will correct differences between original guidance and the ASC, clarify guidance through updated wording or corrected references, and simplify guidance through minor editing. The amendments in this ASU that do not require transition guidance were effective upon issuance, however, those that require transition guidance may be early adopted. The Company adopted the amendments that do not require transition guidance upon issuance of ASU 2016-19 with no impact on its financial statements. The Company will not early adopt the guidance in this standard that require transition guidance. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB issued new guidance on the amortization of callable securities (ASU 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities) , effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2017-08 may be early adopted. The ASU will require premiums paid on purchased debt securities with an explicit call option to be amortized to the earliest call date, as opposed to the maturity date (as under current GAAP). The updated guidance is applicable to instruments that are callable based on explicit, non-contingent call features that are callable at fixed prices on preset dates. The amendments in this update should be applied using the modified retrospective method through a cumulative effect adjustment directly to retained earnings as of the beginning of the period 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	6 Months Ended
	Mar. 31, 2017
Risks and Uncertainties [Abstract]
Significant Risks and Uncertainties	Significant Risks and Uncertainties Federal Regulation In April 2016, the Department of Labor (“DOL”) issued its “fiduciary” rule which could have a material impact on the Company, its products, distribution, and business model. The final rule treats persons who provide investment advice for a fee or other compensation with respect to assets of an employer plan or individual retirement account ("IRA") as fiduciaries of that plan or IRA. Significantly, the rule expands the definition of fiduciary to apply to persons, including insurance agents, who advise and sell products to IRA owners. As a practical matter, this means commissioned insurance agents selling the Company’s IRA products must qualify for a prohibited transaction exemption which requires the agent and financial institution to meet various conditions including that an annuity sale be in the “best interest” of the client without regard for the agent’s, financial institution’s or other party’s financial or other interests, and that any compensation paid to the agent and financial institution be reasonable. The final rule was effective June 2016 and was supposed to become applicable in April 2017. However, the rule has generated considerable controversy and the "applicability date" was delayed by the DOL for 60 days from April 10, 2017 to June 9, 2017. DOL also acted to delay certain aspects of the prohibited transaction exemption requirements during a transition period through January 1, 2018. Industry efforts to block implementation of the rule continue both in Congress and in court actions. The success or failure of these efforts cannot be predicted. Assuming the rule is not blocked, the precise impact of the rule on the financial services industry more generally, and the impact on the Company and its business in particular, is difficult to assess. We believe however it could have an adverse effect on sales of annuity products to IRA owners particularly in the independent agent distribution channel. A significant portion of our annuity sales are to IRAs. Compliance with the prohibited transaction exemptions when fully phased in would likely require additional supervision of agents, cause changes to compensation practices and product offerings, and increase litigation risk, all of which could adversely impact our business, results of operations and/or financial condition. Regardless of the outcome of the court and political challenges, FGL Insurance believes that it is prepared to execute on its implementation plans on the revised applicability date. 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 March 31, 2017 and September 30, 2016 , 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 $2,654 or 12% and $2,448 or 12% , respectively, of the invested assets portfolio, and an amortized cost of $2,583 and $2,352 , respectively. As of March 31, 2017 , the Company’s holdings in this industry include investments in 111 different issuers with the top ten investments accounting for 31% of the total holdings in this industry. As of March 31, 2017 and September 30, 2016 , the Company had no investments in issuers that exceeded 10% of shareholders' equity. The Company's largest concentration in any single issuer as of March 31, 2017 and September 30, 2016 was Wells Fargo & Company with a total fair value of $154 or 1% and $171 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 attempts to mitigate the risk, including changes in interest rates by investing in less rate-sensitive investments, including senior tranches of collateralized loan obligations, non-agency residential mortgage-backed securities, and various types of asset backed securities. The Company’s exposure to such financial and capital markets 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. Management believes this risk is mitigated to some extent by 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 March 31, 2017 . As of March 31, 2017 , the net amount recoverable from Wilton Re was $1,540 and the net amount recoverable from FSRCI was $1,067 . 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 attempt to reduce the risk of default by such reinsurers.

Investments

Investments	6 Months Ended
	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Investments	1.25 1.00 - 1.25 < 1.00 N/A(a) March 31, 2017 LTV Ratios: Less than 50% $ 184 $ — $ 18 $ 1 $ 203 35 % $ 201 35 % 50% to 60% 242 — — — 242 42 % 241 42 % 60% to 75% 112 7 16 — 135 23 % 134 23 % Commercial mortgage loans $ 538 $ 7 $ 34 $ 1 $ 580 100 % $ 576 100 % September 30, 2016 LTV Ratios: Less than 50% $ 158 $ 18 $ — $ 1 $ 177 29 % $ 181 29 % 50% to 60% 189 — — — 189 32 % 194 32 % 60% to 75% 230 — — — 230 39 % 239 39 % Commercial mortgage loans $ 577 $ 18 $ — $ 1 $ 596 100 % $ 614 100 % (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 default. March 31, 2017 September 30, 2016 Gross balance commercial mortgage loans $ 580 $ 596 Allowance for loan loss (1 ) (1 ) Net balance commercial mortgage loans $ 579 $ 595 The Company recognizes a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At March 31, 2017 and September 30, 2016 , we had no CMLs that were delinquent in principal or interest payments. The following provides the current and past due composition of our CMLs: March 31, 2017 September 30, 2016 Current to 30 days $ 580 $ 596 Past due — — Total carrying value $ 580 $ 596 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 will be 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 March 31, 2017 , our CML portfolio had no impairments, modifications or troubled debt restructuring. 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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Fixed maturity securities, available-for-sale $ 236 $ 211 $ 464 $ 421 Equity securities, available-for-sale 10 8 20 16 Commercial mortgage loans 6 6 12 12 Related party loans — 1 — 2 Invested cash and short-term investments — 2 — 2 Other investments 1 4 2 5 Gross investment income 253 232 498 458 Investment expense (6 ) (5 ) (11 ) (9 ) Net investment income $ 247 $ 227 $ 487 $ 449 During the fiscal quarter ended June 30, 2015, the Company received notice that we are entitled to receive a settlement as a result of our ownership of certain RMBS that were issued by Countrywide Financial Corp. ("Countrywide"), an entity which was later acquired by Bank of America Corporation. An $18 cash settlement was received in the fiscal quarter ended June 30, 2016 for a majority of the Countrywide securities, and another $2 is expected to be paid in the third fiscal quarter of 2017. In compliance with the Company's accounting policy described in "Note 2. Significant Accounting Policies and Practices" of the 2016 Form 10-K, the Company updated its cash flow projections for its best estimate of the recovery as of May 31, 2016 and determined the new effective yield, with the resulting immaterial impact recognized in “Net Investment Income”. Net investment Gains (Losses) Details underlying “Net investment gains (losses)” reported on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Net realized gains (losses) on fixed maturity available-for-sale securities $ (17 ) $ 7 $ (15 ) $ 2 Realized gains (losses) on equity securities — 1 — 1 Change in fair value of other derivatives and embedded derivatives 1 (1 ) 1 1 Realized losses on other invested assets (1 ) (1 ) (3 ) (3 ) Net realized (losses) gains on available-for-sale securities (17 ) 6 (17 ) 1 Realized gains (losses) on certain derivative instruments 75 (42 ) 76 (54 ) Unrealized gains (losses) on certain derivative instruments 34 11 72 64 Change in fair value of reinsurance related embedded derivative (11 ) (17 ) 1 10 Realized (losses) gains on hedging derivatives and reinsurance-related embedded derivatives 98 (48 ) 149 20 Net investment gains (losses) $ 81 $ (42 ) $ 132 $ 21 For the three and six months ended March 31, 2017 , proceeds from the sale of fixed maturity available-for-sale securities totaled $263 and $360 , gross gains on such sales totaled $8 and $10 , and gross losses totaled $2 and $4 , respectively. For the three and six months ended March 31, 2016 , proceeds from the sale of fixed maturity available-for-sale securities, totaled $185 and $749 , gross gains on such sales totaled $5 and $18 , and gross losses totaled $3 and $12 , respectively. Unconsolidated Variable Interest Entities The Company owns investments in VIEs that are not consolidated within the Company’s financial statements. VIEs do not have sufficient equity to finance their own activities without additional financial support and certain of its investors lack certain characteristics of a controlling financial interest. These VIEs are not consolidated in the Company’s financial statements for the following reasons: 1) FGL Insurance either does not control or does not have any voting rights or notice rights; 2) the Company does not have any rights to remove the investment manager; and 3) the Company was not involved in the design of the investment. These characteristics indicate that FGL Insurance lacks the ability to direct the activities, or otherwise exert control, of the VIEs and is not considered the primary beneficiary of them. FGL Insurance participates in loans to third parties originated by Salus. Salus is an affiliated, limited liability company indirectly owned by HRG that originates senior secured asset-based loans to unaffiliated third-party borrowers. FGL Insurance also participates in CLOs managed by Salus and owns preferred equity in Salus within the funds withheld portfolio of the FSRCI treaty. 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 $8 and $22 as of March 31, 2017 and September 30, 2016 , 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 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 fixed maturity 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 $42 as of March 31, 2017 . In the normal course of its activities, the Company invests in various limited partnerships as a passive investor. These investments are in corporate credit and real estate debt strategies that have a current income bias. Limited partnership interests are accounted for under the equity method and are included in “Other invested assets” on the Company’s consolidated balance sheet. The Company's maximum exposure to loss with respect to these investments is limited to the investment carrying amounts reported in the Company's consolidated balance sheet in addition to any required unfunded commitments. As of March 31, 2017 , the Company's maximum exposure to loss was $90 in recorded carrying value and $151 in unfunded commitments." id="sjs-B4">Investments The Company’s fixed maturity 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 March 31, 2017 and September 30, 2016 are summarized as follows: March 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for sale securities Asset-backed securities $ 2,650 $ 33 $ (14 ) $ 2,669 $ 2,669 Commercial mortgage-backed securities 961 9 (19 ) 951 951 Corporates 11,621 521 (164 ) 11,978 11,978 Equities 682 35 (5 ) 712 712 Hybrids 1,349 61 (35 ) 1,375 1,375 Municipals 1,582 119 (21 ) 1,680 1,680 Residential mortgage-backed securities 1,253 75 (16 ) 1,312 1,312 U.S. Government 85 2 — 87 87 Total available-for-sale securities 20,183 855 (274 ) 20,764 20,764 Derivative investments 218 139 (6 ) 351 351 Commercial mortgage loans 579 — — 576 579 Other invested assets 119 — — 115 119 Total investments $ 21,099 $ 994 $ (280 ) $ 21,806 $ 21,813 September 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for-sale securities Asset-backed securities $ 2,528 $ 16 $ (45 ) $ 2,499 $ 2,499 Commercial mortgage-backed securities 850 23 (9 ) 864 864 Corporates 10,712 760 (132 ) 11,340 11,340 Equities 640 47 (4 ) 683 683 Hybrids 1,356 77 (47 ) 1,386 1,386 Municipals 1,515 206 (4 ) 1,717 1,717 Residential mortgage-backed securities 1,327 63 (28 ) 1,362 1,362 U.S. Government 233 10 — 243 243 Total available-for-sale securities 19,161 1,202 (269 ) 20,094 20,094 Derivative investments 221 78 (23 ) 276 276 Commercial mortgage loans 595 — — 614 595 Other invested assets 60 — — 58 60 Total investments $ 20,037 $ 1,280 $ (292 ) $ 21,042 $ 21,025 Included in AOCI were cumulative gross unrealized gains of $1 and gross unrealized losses of $3 related to the non-credit portion of other-than-temporary impairments ("OTTI") on non-agency residential mortgage-backed securities ("RMBS") at March 31, 2017 and gross unrealized gains of $1 and gross unrealized losses of $3 related to the non-credit portion of OTTI on RMBS at September 30, 2016 . Securities held on deposit with various state regulatory authorities had a fair value of $18,816 and $18,075 at March 31, 2017 and September 30, 2016 , 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. At March 31, 2017 and September 30, 2016 , the company held investments that were non-income producing for a period greater than twelve months with fair values of $0 and $2 , respectively. 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 $759 and $649 at March 31, 2017 and September 30, 2016 , 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. March 31, 2017 Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal and U.S. Government securities: Due in one year or less $ 342 $ 346 Due after one year through five years 1,786 1,835 Due after five years through ten years 3,162 3,257 Due after ten years 8,607 8,947 Subtotal 13,897 14,385 Other securities which provide for periodic payments: Asset-backed securities 2,650 2,669 Commercial mortgage-backed securities 961 951 Structured hybrids 740 735 Residential mortgage-backed securities 1,253 1,312 Subtotal 5,604 5,667 Total fixed maturity available-for-sale securities $ 19,501 $ 20,052 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. As part of this assessment, we review not only a change in current price relative to the asset's amortized cost, but also the issuer’s current credit rating and the probability of full recovery of principal based upon the issuer’s financial strength. 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 fixed maturity 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-sale securities in unrealized loss positions for OTTI discussed above, the Company determined that the unrealized losses as of March 31, 2017 increased due to upward movement in the U.S. Treasury rates. Bond prices in most sectors moved lower based on these higher Treasury yields. Based on an assessment of all securities in the portfolio in unrealized loss positions, the Company determined that the unrealized losses on the securities presented in the table below were not other-than-temporarily impaired as of March 31, 2017 . 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: March 31, 2017 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 $ 314 $ (2 ) $ 766 $ (12 ) $ 1,080 $ (14 ) Commercial mortgage-backed securities 355 (7 ) 183 (12 ) 538 (19 ) Corporates 2,004 (59 ) 1,006 (105 ) 3,010 (164 ) Equities 130 (3 ) 30 (2 ) 160 (5 ) Hybrids 85 (5 ) 363 (30 ) 448 (35 ) Municipals 427 (17 ) 39 (4 ) 466 (21 ) Residential mortgage-backed securities 58 — 357 (16 ) 415 (16 ) U.S. Government 6 — — — 6 — Total available-for-sale securities $ 3,379 $ (93 ) $ 2,744 $ (181 ) $ 6,123 $ (274 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 494 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 437 Total number of available-for-sale securities in an unrealized loss position 931 September 30, 2016 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 $ 352 $ (4 ) $ 1,368 $ (41 ) $ 1,720 $ (45 ) Commercial mortgage-backed securities 44 (1 ) 182 (8 ) 226 (9 ) Corporates 413 (9 ) 1,031 (123 ) 1,444 (132 ) Equities 51 (1 ) 75 (3 ) 126 (4 ) Hybrids 41 (2 ) 412 (45 ) 453 (47 ) Municipals 69 (2 ) 38 (2 ) 107 (4 ) Residential mortgage-backed securities 70 (1 ) 544 (27 ) 614 (28 ) Total available-for-sale securities $ 1,040 $ (20 ) $ 3,650 $ (249 ) $ 4,690 $ (269 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 193 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 543 Total number of available-for-sale securities in an unrealized loss position 736 At March 31, 2017 and September 30, 2016 , securities in an unrealized loss position were primarily concentrated in investment grade, corporate debt, asset-backed, hybrid, and municipal instruments. At March 31, 2017 and September 30, 2016 , securities with a fair value of $71 and $183 , 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 0% and 1% of the carrying value of all investments, 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 and six months ended March 31, 2017 and 2016 , for which a portion of the OTTI was recognized in AOCI: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Beginning balance $ 3 $ 3 $ 3 $ 3 Increases attributable to credit losses on securities: OTTI was previously recognized — — — — OTTI was not previously recognized — — — — Ending balance $ 3 $ 3 $ 3 $ 3 The Company recognized $21 and $22 of credit impairment losses in operations during the three and six months ended March 31, 2017 and $0 and $0 of change of intent impairment losses in operations during the three and six months ended March 31, 2017 , related to fixed maturity securities with an amortized cost of $170 and a fair value of $148 at March 31, 2017 . During the three and six months ended March 31, 2016 , the Company recognized $1 and $11 of credit impairment losses in operations related to fixed maturity securities with an amortized cost of $89 and a fair value of $78 at March 31, 2016 . 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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 OTTI Recognized in Net Income: Asset-backed securities $ — $ 1 $ 1 $ 5 Corporates 20 — 20 6 Other invested assets 1 — 1 — Total $ 21 $ 1 $ 22 $ 11 The portion of OTTI recognized in AOCI is disclosed in the unaudited Condensed Consolidated Statements of Comprehensive Income (Loss). In the second fiscal quarter ended March 31, 2017 , the Company recognized credit-related impairment losses of $20 on available-for-sale debt securities related to investments in First National Bank Holding Co. On April 28, 2017, the Federal Deposit Insurance Company (“FDIC”) shutdown First NBC Bank and named the FDIC as receiver. The bank was the holding company’s principal asset and as a result of the closure of the bank the holding company has limited remaining tangible assets. The Company expects no further recovery of its investment in First National Bank Holding Co. and has reflected the impairment in its financial statements for the quarter ended March 31, 2017 as the events are reflective of conditions that existed at the balance sheet date. Commercial Mortgage Loans Commercial mortgage loans ("CMLs") represented approximately 3% of the Company’s total investments as of March 31, 2017 and September 30, 2016 . 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 attempt 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: March 31, 2017 September 30, 2016 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Funeral Home $ 1 — % $ 1 — % Hotel 23 4 % 23 4 % Industrial - General 46 8 % 58 10 % Industrial - Warehouse 65 11 % 64 11 % Multifamily 69 12 % 70 11 % Office 158 27 % 160 27 % Retail 218 38 % 220 37 % Total commercial mortgage loans, gross of valuation allowance $ 580 100 % $ 596 100 % Allowance for loan loss (1 ) (1 ) Total commercial mortgage loans $ 579 $ 595 U.S. Region: East North Central $ 135 23 % $ 137 23 % East South Central 20 4 % 21 4 % Middle Atlantic 86 15 % 97 16 % Mountain 68 12 % 67 12 % New England 14 2 % 14 2 % Pacific 135 23 % 136 23 % South Atlantic 66 12 % 67 11 % West North Central 14 2 % 14 2 % West South Central 42 7 % 43 7 % Total commercial mortgage loans, gross of valuation allowance $ 580 100 % $ 596 100 % Allowance for loan loss (1 ) (1 ) Total commercial mortgage loans $ 579 $ 595 Within the Company's CML portfolio, 100% of all CMLs had a loan-to-value (“LTV”) ratio of less than 75% at inception at March 31, 2017 and September 30, 2016 . As of March 31, 2017 , all CMLs are current and have not experienced credit or other events which would require the recording of an impairment 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 March 31, 2017 and September 30, 2016 : Debt Service Coverage Ratios Total Amount % of Total Estimated Fair Value % of Total >1.25 1.00 - 1.25 < 1.00 N/A(a) March 31, 2017 LTV Ratios: Less than 50% $ 184 $ — $ 18 $ 1 $ 203 35 % $ 201 35 % 50% to 60% 242 — — — 242 42 % 241 42 % 60% to 75% 112 7 16 — 135 23 % 134 23 % Commercial mortgage loans $ 538 $ 7 $ 34 $ 1 $ 580 100 % $ 576 100 % September 30, 2016 LTV Ratios: Less than 50% $ 158 $ 18 $ — $ 1 $ 177 29 % $ 181 29 % 50% to 60% 189 — — — 189 32 % 194 32 % 60% to 75% 230 — — — 230 39 % 239 39 % Commercial mortgage loans $ 577 $ 18 $ — $ 1 $ 596 100 % $ 614 100 % (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 default. March 31, 2017 September 30, 2016 Gross balance commercial mortgage loans $ 580 $ 596 Allowance for loan loss (1 ) (1 ) Net balance commercial mortgage loans $ 579 $ 595 The Company recognizes a mortgage loan as delinquent when payments on the loan are greater than 30 days past due. At March 31, 2017 and September 30, 2016 , we had no CMLs that were delinquent in principal or interest payments. The following provides the current and past due composition of our CMLs: March 31, 2017 September 30, 2016 Current to 30 days $ 580 $ 596 Past due — — Total carrying value $ 580 $ 596 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 will be 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 March 31, 2017 , our CML portfolio had no impairments, modifications or troubled debt restructuring. 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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Fixed maturity securities, available-for-sale $ 236 $ 211 $ 464 $ 421 Equity securities, available-for-sale 10 8 20 16 Commercial mortgage loans 6 6 12 12 Related party loans — 1 — 2 Invested cash and short-term investments — 2 — 2 Other investments 1 4 2 5 Gross investment income 253 232 498 458 Investment expense (6 ) (5 ) (11 ) (9 ) Net investment income $ 247 $ 227 $ 487 $ 449 During the fiscal quarter ended June 30, 2015, the Company received notice that we are entitled to receive a settlement as a result of our ownership of certain RMBS that were issued by Countrywide Financial Corp. ("Countrywide"), an entity which was later acquired by Bank of America Corporation. An $18 cash settlement was received in the fiscal quarter ended June 30, 2016 for a majority of the Countrywide securities, and another $2 is expected to be paid in the third fiscal quarter of 2017. In compliance with the Company's accounting policy described in "Note 2. Significant Accounting Policies and Practices" of the 2016 Form 10-K, the Company updated its cash flow projections for its best estimate of the recovery as of May 31, 2016 and determined the new effective yield, with the resulting immaterial impact recognized in “Net Investment Income”. Net investment Gains (Losses) Details underlying “Net investment gains (losses)” reported on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Net realized gains (losses) on fixed maturity available-for-sale securities $ (17 ) $ 7 $ (15 ) $ 2 Realized gains (losses) on equity securities — 1 — 1 Change in fair value of other derivatives and embedded derivatives 1 (1 ) 1 1 Realized losses on other invested assets (1 ) (1 ) (3 ) (3 ) Net realized (losses) gains on available-for-sale securities (17 ) 6 (17 ) 1 Realized gains (losses) on certain derivative instruments 75 (42 ) 76 (54 ) Unrealized gains (losses) on certain derivative instruments 34 11 72 64 Change in fair value of reinsurance related embedded derivative (11 ) (17 ) 1 10 Realized (losses) gains on hedging derivatives and reinsurance-related embedded derivatives 98 (48 ) 149 20 Net investment gains (losses) $ 81 $ (42 ) $ 132 $ 21 For the three and six months ended March 31, 2017 , proceeds from the sale of fixed maturity available-for-sale securities totaled $263 and $360 , gross gains on such sales totaled $8 and $10 , and gross losses totaled $2 and $4 , respectively. For the three and six months ended March 31, 2016 , proceeds from the sale of fixed maturity available-for-sale securities, totaled $185 and $749 , gross gains on such sales totaled $5 and $18 , and gross losses totaled $3 and $12 , respectively. Unconsolidated Variable Interest Entities The Company owns investments in VIEs that are not consolidated within the Company’s financial statements. VIEs do not have sufficient equity to finance their own activities without additional financial support and certain of its investors lack certain characteristics of a controlling financial interest. These VIEs are not consolidated in the Company’s financial statements for the following reasons: 1) FGL Insurance either does not control or does not have any voting rights or notice rights; 2) the Company does not have any rights to remove the investment manager; and 3) the Company was not involved in the design of the investment. These characteristics indicate that FGL Insurance lacks the ability to direct the activities, or otherwise exert control, of the VIEs and is not considered the primary beneficiary of them. FGL Insurance participates in loans to third parties originated by Salus. Salus is an affiliated, limited liability company indirectly owned by HRG that originates senior secured asset-based loans to unaffiliated third-party borrowers. FGL Insurance also participates in CLOs managed by Salus and owns preferred equity in Salus within the funds withheld portfolio of the FSRCI treaty. 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 $8 and $22 as of March 31, 2017 and September 30, 2016 , 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 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 fixed maturity 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 $42 as of March 31, 2017 . In the normal course of its activities, the Company invests in various limited partnerships as a passive investor. These investments are in corporate credit and real estate debt strategies that have a current income bias. Limited partnership interests are accounted for under the equity method and are included in “Other invested assets” on the Company’s consolidated balance sheet. The Company's maximum exposure to loss with respect to these investments is limited to the investment carrying amounts reported in the Company's consolidated balance sheet in addition to any required unfunded commitments. As of March 31, 2017 , the Company's maximum exposure to loss was $90 in recorded carrying value and $151 in unfunded commitments.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Mar. 31, 2017
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: March 31, 2017 September 30, 2016 Assets: Derivative investments: Call options $ 351 $ 276 Futures contracts — — Other invested assets: Other derivatives and embedded derivatives 14 13 Other assets: Reinsurance related embedded derivative 120 119 $ 485 $ 408 Liabilities: Contractholder funds: FIA embedded derivative $ 2,362 $ 2,383 Funds withheld for reinsurance liabilities: Call options payable to FSRCI 13 11 $ 2,375 $ 2,394 The change in fair value of derivative instruments included in the accompanying unaudited Condensed Consolidated Statements of Operations is as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Revenues: Net investment gains (losses): Call options $ 105 $ (29 ) $ 144 $ 7 Futures contracts 4 (2 ) 4 3 Other derivatives and embedded derivatives 1 (1 ) 1 1 Reinsurance related embedded derivative (11 ) (17 ) 1 10 $ 99 $ (49 ) $ 150 $ 21 Benefits and other changes in policy reserves FIA embedded derivatives $ 112 $ 48 $ (21 ) $ 99 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 March 31, 2017 the fair value of the fund-linked note and embedded derivative were $24 and $14 , 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. These participating loans are denominated in Canadian ("CAD") currency which is different from FGL Insurance's functional currency. At September 30, 2015, four loan participations were denominated in CAD currency. Three of the four loans denominated in CAD currency were settled prior to June 30, 2016. Therefore, as of both March 31, 2017 and September 30, 2016 only one loan denominated in CAD currency remains. FGL Insurance also had two participating loans denominated in CAD currency which also required reimbursement from the borrower in CAD currency, but did not include a provision for reimbursement for any net foreign exchange losses from the borrower. 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 reimbursed the Company for certain realized foreign exchange losses related to cash flows on these loan participations from origination date through the earlier of the maturity date of the loan or expiration of the swap agreement. Reimbursement under the swap agreements was reduced in the event the counterparties on the underlying loan participations were unable to fully repay amounts due on those loan participations. FGL Insurance's ability to recover the foreign exchange losses under these swap agreements was such that the Company established derivatives equal to FGL Insurance's cumulative net foreign exchange losses on these loan participations. During the year ended September 30, 2016, one of the loan participations was repaid in full and FGL Insurance recovered the full amount due under the related swap agreement. The other loan participation remains outstanding at March 31, 2017 . The Company recognized an OTTI loss on the loan during the quarter ended September 30, 2016 and also recorded a reduction in the amount recoverable under the swap agreement. The related swap agreement with Salus expired in July 2016 and FGL Insurance recovered the amount due under the swap agreement. The value of these derivatives was reflected in “Other invested assets” with the changes in the fair value reflected in the Company’s Condensed Consolidated Statements of Operations . The value of these derivatives was $0 and $0 at March 31, 2017 and September 30, 2016 , respectively, which is equal to the cumulative net realized foreign exchange loss recognized on these loan participations, net of allowance for counterparty credit risk. The Company had realized losses of $0 and $0 for the three and six months ended March 31, 2017 ; and $(2) and $0 realized losses for the three and six months ended March 31, 2016 related to these foreign exchange derivatives included in "Net investment gains (losses)". Additionally, a subsidiary of HRG, HGI Funding LLC, 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 guarantee was terminated in the quarter ended September 30, 2016 concurrent with the settlement of the Salus swap agreement. FGL Insurance has entered into several CAD currency forward contracts since August 2016 to economically hedge against unfavorable movements in CAD on the one CAD-denominated loan participation which remains outstanding at March 31, 2017 . Under the forward contracts, FGL Insurance sold CAD equal to the estimated recovery amounts on the loan participation and will receive USD. The forward contracts settled in cash prior to March 31, 2017 . No cash was exchanged upon execution of the forward contracts. The value of these derivatives at each balance sheet date is equal to the cumulative unrealized value and is reflected in “Other invested assets” with the changes in the fair value reflected in the Company’s Condensed Consolidated Statements of Operations . The value of the forward contracts as of March 31, 2017 was $0 . The Company had realized gains of $0 and $0 for the three and six months ended March 31, 2017 related to the forward contracts included in "Net investment gains". 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: March 31, 2017 September 30, 2016 Counterparty Credit Rating (Fitch/Moody's/S&P) (a) Notional Fair Value Collateral Net Credit Risk Notional Amount Fair Value Collateral Net Credit Risk Merrill Lynch A/*/A+ $ 4,092 $ 135 $ 100 $ 35 $ 2,302 $ 55 $ 10 $ 45 Deutsche Bank A/A3/A- 86 9 — 9 1,620 46 12 34 Morgan Stanley */A1/A+ 2,125 81 90 (9 ) 2,952 87 58 29 Barclay's Bank A/A1/A- 1,436 48 7 41 1,389 39 — 39 Canadian Imperial Bank of Commerce AA-/Aa3/A+ 2,479 78 78 — 1,623 49 48 1 Total $ 10,218 $ 351 $ 275 $ 76 $ 9,886 $ 276 $ 128 $ 148 (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 March 31, 2017 and September 30, 2016 , counterparties posted $275 and $128 of collateral, respectively, of which $175 and $118 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 . The remaining $100 and $10 of non-cash collateral was held by a third-party custodian and is not included in the Company's unaudited Condensed Consolidated Balance Sheets at March 31, 2017 and September 30, 2016 , respectively. Accordingly, the maximum amount of loss due to credit risk that the Company would incur if parties to the call options failed completely to perform according to the terms of the contracts was $76 and $148 at March 31, 2017 and September 30, 2016 , respectively. The Company held 394 and 559 futures contracts at March 31, 2017 and September 30, 2016 , 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 $2 and $3 at March 31, 2017 and September 30, 2016 , respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Mar. 31, 2017
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: March 31, 2017 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 887 $ — $ — $ 887 $ 887 Fixed maturity securities, available-for-sale: Asset-backed securities — 2,485 184 2,669 2,669 Commercial mortgage-backed securities — 873 78 951 951 Corporates — 10,872 1,106 11,978 11,978 Hybrids — 1,365 10 1,375 1,375 Municipals — 1,642 38 1,680 1,680 Residential mortgage-backed securities — 1,312 — 1,312 1,312 U.S. Government 54 33 — 87 87 Equity securities, available-for-sale 14 654 1 669 669 Derivative financial instruments — 351 — 351 351 Reinsurance related embedded derivative, included in other assets — 120 — 120 120 Other invested assets — — 14 14 14 Total financial assets at fair value $ 955 $ 19,707 $ 1,431 $ 22,093 $ 22,093 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 2,362 $ 2,362 $ 2,362 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 13 — 13 13 Total financial liabilities at fair value $ — $ 13 $ 2,362 $ 2,375 $ 2,375 September 30, 2016 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 864 $ — $ — $ 864 $ 864 Fixed maturity securities, available-for-sale: Asset-backed securities — 2,327 172 2,499 2,499 Commercial mortgage-backed securities — 785 79 864 864 Corporates — 10,219 1,121 11,340 11,340 Hybrids — 1,386 — 1,386 1,386 Municipals — 1,676 41 1,717 1,717 Residential mortgage-backed securities — 1,362 — 1,362 1,362 U.S. Government 61 182 — 243 243 Equity securities, available-for-sale 22 617 3 642 642 Derivative financial instruments — 276 — 276 276 Reinsurance related embedded derivative, included in other assets — 119 — 119 119 Other invested assets — — 34 34 34 Total financial assets at fair value $ 947 $ 18,949 $ 1,450 $ 21,346 $ 21,346 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 2,383 $ 2,383 $ 2,383 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 11 — 11 11 Total financial liabilities at fair value $ — $ 11 $ 2,383 $ 2,394 $ 2,394 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. 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 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. The Company did not adjust prices received from third parties as of March 31, 2017 and September 30, 2016 . 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 internally, based on valuation pricing models which use market-observable inputs, including interest rates, yield curve volatilities, and other factors. The fair value of the reinsurance-related embedded derivative in the funds withheld reinsurance agreement with FSRCI is estimated based upon 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. These contracts are classified as Level 1. The fair value measurement of the FIA embedded derivatives included in contractholder funds is determined through a combination of market observable information and significant unobservable inputs. The market observable inputs are the market value of option and interest swap rates. The significant unobservable inputs are the mortality multiplier, surrender rates, and non-performance spread. The mortality multiplier at March 31, 2017 and September 30, 2016 was applied to the Annuity 2000 mortality tables. Significant increases (decreases) in the market value of an option in isolation would result in a higher or lower, respectively, fair value measurement. Significant increases (decreases) in interest swap rates, mortality multiplier, surrender rates, or non-performance spread in isolation would result in a lower (higher) fair value measurement. Generally, a change in any one unobservable input would not directly 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 March 31, 2017 and September 30, 2016 , 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 March 31, 2017 . In making this assessment, the Company considered the sufficiency of the underlying loan collateral, movements in the benchmark interest rate between origination date and March 31, 2017 , 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 JSN Jewellery, Inc. is based upon a best estimate of the expected liquidation value of the underlying collateral. Fair value of the AnchorPath embedded derivative is based on an unobservable input, the net asset value of the AnchorPath fund at the balance sheet date. The embedded derivative is similar to a call option on the net asset value of the AnchorPath fund with a strike price of zero since FGL Insurance will not be required to make any additional payments at maturity of the fund-linked note in order to receive the net asset value of the AnchorPath fund on the maturity date. Therefore, the Black-Scholes model returns the net asset value of the AnchorPath fund as the fair value of the call option regardless of the values used for the other inputs to the option pricing model. The net asset value of the AnchorPath fund is provided by the fund manager at the end of each calendar month and represents the value an investor would receive if it withdrew its investment on the balance sheet date. Therefore, the key unobservable input used in the Black-Scholes model is the value of the AnchorPath fund. As the value of the AnchorPath fund increases or decreases, the fair value of the embedded derivative will increase or decrease. Fair value of foreign exchange derivatives and embedded derivatives, including CAD currency forward contracts, is based on the quoted USD/CAD exchange rates. Related Party Loans - HGI Energy Loan The HGI Energy loan's (discussed in "Note 14. Related Party Transactions" to the Company's unaudited Consolidated Financial Statements) fair value is based on the discounted cash flows of the loan. The discount rate was set by observing the market rate on other debt instruments of the issuer with an adjustment for liquidity. 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) Fair values for policy loans are estimated from a discounted cash flow analysis, using interest rates currently being offered for loans with similar credit risk. Loans with similar characteristics are aggregated for purposes of the calculations. Related Party Loans The related party loans (discussed in "Note 14. Related Party Transactions" to the Company's Consolidated Financial Statements) carrying value at par approximates fair value, as this is the exit price for the obligation of these loans. Debt The fair value of debt is based on quoted market prices. The inputs used to measure the fair value of our outstanding debt are classified as Level 2 within the fair value hierarchy. Our revolving credit facility debt is classified as Level 3 within the fair value hierarchy, and the estimated fair value reflects the carrying value as the revolver has no maturity date. Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments carried at fair value as of March 31, 2017 and September 30, 2016 are as follows: Fair Value at Valuation Range (Weighted average) March 31, 2017 Technique Unobservable Input(s) March 31, 2017 Assets Asset-backed securities $ 178 Broker-quoted Offered quotes 88.00% - 100.48% Asset-backed securities (Salus CLO equity tranche) 6 Third-party Valuation Offered quotes 11.87% Discount rate 15.00% Other loan recoveries 0.00% - 100.00% Commercial mortgage-backed securities 74 Broker-quoted Offered quotes 107.16% - 122.00% Commercial mortgage-backed securities 4 Matrix pricing Quoted prices 100.44% - 100.44% Corporates 862 Broker-quoted Offered quotes 59.00% - 112.00% Corporates 244 Matrix pricing Quoted prices 93.56% - 116.52% Hybrids 10 Broker-quoted Offered quotes 96.10% - 96.10% Municipals 38 Broker-quoted Offered quotes 110.89% - 110.89% Equity securities available-for-sale (Salus preferred equity) 1 Income-approach Yield 0.70% - 3.10% Discount rate 7.00% - 9.00% Salus CLO Equity 11.87% Other invested assets: Available-for-sale embedded derivative 14 Black-Scholes model Market value of AnchorPath fund 100.00% Total $ 1,431 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 2,362 Discounted cash flow Market value of option 0.00% - 24.11% SWAP rates (discount rates) 2.05% - 2.38% Mortality multiplier 80.00% - 80.00% Surrender rates 0.50% - 75.00% Non-performance spread 0.25% - 0.25% Future option budget 1.13% - 5.57% Total liabilities at fair value $ 2,362 Fair Value at Valuation Unobservable Range (Weighted average) September 30, 2016 Technique Input(s) September 30, 2016 Assets Asset-backed securities $ 144 Broker-quoted Offered quotes 97.54% - 101.55% Asset-backed securities 9 Matrix Pricing Quoted prices 98.75% Asset-backed securities (Salus CLO equity tranche) 19 Third-Party Valuation Offered quotes 28.37% Discount rate 15.00% RSH recovery 5.50% Other loan recoveries 0.00% - 100.00% Commercial mortgage-backed securities 75 Broker-quoted Offered quotes 104.31% - 122.19% Commercial mortgage-backed securities 4 Matrix pricing Quoted prices 98.41% - 98.41% Corporates 920 Broker-quoted Offered quotes 50.00% - 118.33% Corporates 201 Matrix pricing Quoted prices 99.00% - 150.23% Municipals 41 Broker-quoted Offered quotes 119.04% - 119.04% Equity securities available-for-sale (Salus preferred equity) 3 Market-approach Yield 11.00% RSH recovery 5.50% Discount rate 15.00% Salus CLO equity 28.37% Other invested assets: Available-for-sale embedded derivative 13 Black-Scholes Model Market value of AnchorPath fund 100.00% Loan participations - Other 2 Market Pricing Offered quotes 100.00% Loan participations - JSN Jewellery Inc. 17 Liquidation value – 52.5% recovery estimate Recovery estimate (wind-down costs) 49.93% - 56.67% Loan participation - RadioShack (RSH) Corporation 2 Liquidation value – 5% recovery estimate Recovery estimate (wind-down costs) 1.36% - 14.28% Total $ 1,450 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 2,383 Discounted cash flow Market value of option 0.00% - 26.64% SWAP rates (discount rates) 1.18% - 1.46% Mortality multiplier 80.00% - 80.00% Surrender rates 0.50% - 75.00% Non-performance spread 0.25% - 0.25% Future option budget 1.15% - 5.57% Total liabilities at fair value $ 2,383 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 unaudited Condensed Consolidated Statements of Operations . The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three and six months ended March 31, 2017 and 2016 , 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 March 31, 2017 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 $ 197 $ — $ 1 $ — $ — $ (9 ) $ (5 ) $ 184 Commercial mortgage-backed securities 85 — 1 — — — (8 ) 78 Corporates 1,078 — 5 60 — (33 ) (4 ) 1,106 Hybrids 10 — — — — — — 10 Municipals 37 — 1 — — — — 38 Equity securities available-for-sale 1 — — — — — — 1 Other invested assets: Available-for-sale embedded derivative 13 1 — — — — — 14 Loan participations 6 (1 ) — — — (5 ) — — Total assets at Level 3 fair value $ 1,427 $ — $ 8 $ 60 $ — $ (47 ) $ (17 ) $ 1,431 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,250 $ 112 $ — $ — $ — $ — $ — $ 2,362 Total liabilities at Level 3 fair value $ 2,250 $ 112 $ — $ — $ — $ — $ — $ 2,362 (a) The net transfers out of Level 3 during the three months ended March 31, 2017 were exclusively to Level 2. Six months ended March 31, 2017 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 $ 172 $ (1 ) $ — $ 63 $ — $ (16 ) $ (34 ) $ 184 Commercial mortgage-backed securities 79 — (1 ) 8 — — (8 ) 78 Corporates 1,121 (1 ) (36 ) 111 (5 ) (81 ) (3 ) 1,106 Hybrids — — — 10 — — — 10 Municipals 41 — (2 ) — — (1 ) — 38 Equity securities available-for-sale 3 (2 ) — — — — — 1 Available-for-sale embedded derivative 13 1 — — — — — 14 Loan participations 21 (2 ) — — — (19 ) — — Total assets at Level 3 fair value $ 1,450 $ (5 ) $ (39 ) $ 192 $ (5 ) $ (117 ) $ (45 ) $ 1,431 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,383 $ (21 ) $ — $ — $ — $ — $ — $ 2,362 Total liabilities at Level 3 fair value $ 2,383 $ (21 ) $ — $ — $ — $ — $ — $ 2,362 (a) The net transfers out of Level 3 during the six months ended March 31, 2017 were exclusively to Level 2. Three months ended March 31, 2016 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 $ 79 $ (1 ) $ — $ 19 $ — $ — $ (22 ) $ 75 Commercial mortgage-backed securities 139 — 1 — — (1 ) — 139 Corporates 972 — 26 19 — (11 ) — 1,006 Municipals 38 — 1 — — — — 39 Equity securities available-for-sale 11 — — — — — — 11 Other invested assets: Available-for-sale embedded derivative 11 — — — — — — 11 Loan participations 84 — 3 16 — (15 ) — 88 Total assets at Level 3 fair value $ 1,334 $ (1 ) $ 31 $ 54 $ — $ (27 ) $ (22 ) $ 1,369 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,200 $ 48 $ — $ — $ — $ — $ — $ 2,248 Total liabilities at Level 3 fair value $ 2,200 $ 48 $ — $ — $ — $ — $ — $ 2,248 (a) The net transfers out of Level 3 during the three months ended March 31, 2016 were exclusively to Level 2. Six months ended March 31, 2016 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 $ 38 $ (5 ) $ — $ 41 $ — $ — $ 1 $ 75 Commercial mortgage-backed securities 144 — 1 — — (2 ) (4 ) 139 Corporates 964 — 13 63 — (19 ) (15 ) 1,006 Municipals 39 — — — — — — 39 Equity securities available-for-sale 11 — — — — — — 11 Available-for-sale embedded derivative 10 1 — — — — — 11 Loan participations 119 (3 ) 4 34 — (66 ) — 88 Total assets at Level 3 fair value $ 1,325 $ (7 ) $ 18 $ 138 $ — $ (87 ) $ (18 ) $ 1,369 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,149 $ 99 $ — $ — $ — $ — $ — $ 2,248 Total liabilities at Level 3 fair value $ 2,149 $ 99 $ — $ — $ — $ — $ — $ 2,248 (a) The net transfers out of Level 3 during the six months ended March 31, 2016 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. March 31, 2017 Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets Commercial mortgage loans $ — $ — $ 576 $ 576 $ 579 Policy loans, included in other invested assets — — 11 11 15 Related party loans — — 71 71 71 Total $ — $ — $ 658 $ 658 $ 665 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 15,759 $ 15,759 $ 17,690 Debt — 301 105 406 405 Total $ — $ 301 $ 15,864 $ 16,165 $ 18,095 September 30, 2016 Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets Commercial mortgage loans $ — $ — $ 614 $ 614 $ 595 Policy loans, included in other invested assets — — 13 13 14 Related party loans — — 71 71 71 Total $ — $ — $ 698 $ 698 $ 680 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 14,884 $ 14,884 $ 16,868 Debt — 300 100 400 400 Total $ — $ 300 $ 14,984 $ 15,284 $ 17,268 The following table includes assets that have not been classified in the fair value hierarchy as the fair value of these investments is measured using the net asset value per share practical expedient. For further discussion about this adoption see “Note 2. Significant Accounting Policies” to the Company's unaudited Condensed Consolidated Financial Statements. Carrying Value After Measurement March 31, 2017 September 30, 2016 Equity securities available-for-sale $ 43 $ 41 Limited partnership investment, included in other invested assets $ 90 $ 12 The Company reviews the fair value hierarchy classifications each reporting period. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in and out of Level 3, or between other levels, at the beginning fair value for the reporting period in which the changes occur. There were no transfers between Level 1 and Level 2 for the three and six months ended March 31, 2017 and 2016 . The transfers into and out of Level 3 were related to changes in the primary pricing source and changes in the observability of external information used in determining the fair value. Accordingly, the Company’s assessment resulted in gross transfers into Level 3 with valuation of $50 and $94 related to asset-backed and corporate securities and gross transfers out of Level 3 with valuation of $67 and $139 related to asset-backed, commercial mortgage-backed and corporate securities during the three and six months ended March 31, 2017 . During the three and six months ended March 31, 2016 , there were transfers into Level 3 of $0 and $1 related to asset-backed securities and net transfers out of Level 3 of $22 and $19 , related to commercial mortgage-backed and corporate securities.

Intangible Assets

Intangible Assets	6 Months Ended
	Mar. 31, 2017
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, 2016 $ 19 $ 1,007 $ 1,026 Deferrals — 190 190 Adjustments: Unlocking 10 (7 ) 3 Interest 5 23 28 Amortization (40 ) (147 ) (187 ) Adjustment for unrealized investment losses (gains) 15 109 124 Balance at March 31, 2017 $ 9 $ 1,175 $ 1,184 Accumulated amortization $ 421 VOBA DAC Total Balance at September 30, 2015 $ 187 $ 801 $ 988 Deferrals — 164 164 Adjustments: Unlocking 9 (1 ) 8 Interest 6 17 23 Amortization (31 ) (38 ) (69 ) Adjustment for unrealized investment losses (26 ) 82 56 Balance at March 31, 2016 $ 145 $ 1,025 $ 1,170 Accumulated amortization $ 407 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 Consolidated Statement of Operations. As of March 31, 2017 and September 30, 2016 , the VOBA balance included cumulative adjustments for net unrealized investment (gains) losses of $(147) and $(162) , respectively, and the DAC balances included cumulative adjustments for net unrealized investment losses (gains) of $13 and $(96) , respectively. The above DAC balances include $92 and $86 of deferred sales inducements, net of shadow adjustments, as of March 31, 2017 and September 30, 2016 , respectively. The weighted average amortization period for VOBA is approximately 5.2 years. Estimated amortization expense for VOBA in future fiscal periods is as follows: Estimated Amortization Expense Fiscal Year VOBA 2017 12 2018 23 2019 20 2020 17 2021 14 Thereafter 70

Debt

Debt	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt	Debt The Company's outstanding debt as of March 31, 2017 and September 30, 2016 is as follows: March 31, 2017 September 30, 2016 Debt $ 300 $ 300 Revolving credit facility 105 100 As of March 31, 2017 and September 30, 2016 , the Company has drawn $105 and $100 , respectively, on the revolver. The initial $100 draw on the revolver carried interest rates equal to 4.02% and 5.50% , as of March 31, 2017 and September 30, 2016 , respectively. In March 2017, an additional draw of $5 on the revolver was made, which carried an interest rate equal to 3.98% As of March 31, 2017 and September 30, 2016 , the amount available to be drawn on the revolver was $45 and $50 , respectively. The revolver matures in August 26, 2017. The interest expense and amortization of debt issuance costs of the Company's debt for the three and six months ended March 31, 2017 and 2016 , respectively, were as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Interest Expense Amortization Interest Expense Amortization Interest Expense Amortization Interest Expense Amortization Debt $ 5 $ — $ 5 $ 1 $ 10 $ — $ 9 $ 2 Revolving credit facility 1 — — — 2 1 — 1

Equity

Equity	6 Months Ended
	Mar. 31, 2017
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. The Company's share repurchase activity is shown in the table below. Shares Total Cost Shares purchased pursuant to the repurchase program 500 $ 11 Shares acquired to satisfy employee income tax withholding pursuant to the Company's stock compensation plan 12 — Total shares of common stock at completion of repurchase program as of June 30, 2015 512 11 Shares acquired to satisfy employee income tax withholding pursuant to the Company's stock compensation plan during the three months ended December 31, 2015 22 1 Shares acquired to satisfy employee income tax withholding pursuant to the Company's stock compensation plan during the three months ended March 31, 2016 3 — Shares acquired to satisfy employee income tax withholding pursuant to the Company's stock compensation plan during the three months ended December 31, 2016 28 1 Shares acquired to satisfy employee income tax withholding pursuant to the Company's stock compensation plan during the three months ended March 31, 2017 4 $ — Total shares of common stock repurchased as of March 31, 2017 569 $ 13 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 March 31, 2017 . Dividends The Company declared the following cash dividends during the three and six months ended March 31, 2017 and 2016 : Date Declared Date Paid Date Shareholders of record Shareholders of record (in thousands) Cash Dividend declared (per share) Total cash paid November 12, 2015 December 14, 2015 November 30, 2015 58,144 $0.065 $4 February 2, 2016 March 7, 2016 February 22, 2016 58,210 $0.065 $4 November 10, 2016 December 12, 2016 November 28, 2016 58,245 $0.065 $4 February 2, 2017 March 6, 2017 February 21, 2017 58,308 $0.065 $4 On May 1, 2017 , FGL’s Board of Directors declared a quarterly cash dividend of $0.065 per share. The dividend will be paid on June 5, 2017 to shareholders of record as of the close of business on May 22, 2017 .

Stock Compensation

Stock Compensation	6 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation	Stock Compensation The Company recognized total stock compensation expense related to the FGL Plans and FGLH Plans as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 FGL Plans Restricted shares — — 1 1 Performance restricted stock units — 2 — 3 — 2 1 4 FGLH Plans Stock Incentive Plan - stock options 1 1 1 1 Amended and Restated Stock Incentive Plan - stock options 1 — 1 1 Amended and Restated Stock Incentive Plan - restricted stock units — — — 1 2 1 2 3 Total stock compensation expense 2 3 3 7 Related tax benefit 1 1 1 2 Net stock compensation expense $ 1 $ 2 $ 2 $ 5 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 March 31, 2017 and the weighted-average period over which this expense will be recognized are as follows: Unrecognized Compensation Weighted Average Recognition FGL Plans Stock options $ — 2 Restricted shares 2 2 Total unrecognized stock compensation expense $ 2 2 FGL Plans FGL’s Compensation Committee is authorized to grant up to 2,838 thousand equity awards under the FGL Plans. At March 31, 2017 , 1,090 thousand equity awards are available for future issuance under the FGL Plans. FGL granted 47 thousand and 119 thousand stock options to a certain officer in the six months ended March 31, 2017 and March 31, 2016 , respectively. These stock options vest in equal installments over a period of 3 years and expire on the seven th anniversary of the grant date. The total fair value of the options granted in the six months ended March 31, 2017 and 2016 was $0 and $0 , respectively. At March 31, 2017 , the intrinsic value of stock options outstanding, exercisable and vested or expected to vest was $2 , $1 , and $2 , respectively. At March 31, 2017 , the weighted average remaining contractual term of stock options outstanding, exercisable and vested or expected to vest was 5 years , 4 years and 5 years , respectively. During the six months ended March 31, 2017 , the intrinsic value of stock options exercised, total cash received upon exercise and the related tax benefit realized was $0 , $0 and $0 , respectively. During the six months ended March 31, 2016 , the intrinsic value of stock options exercised, total cash received upon exercise and the related tax benefit realized was $0 , $2 and $0 , respectively. A summary of FGL’s outstanding stock options as of March 31, 2017 , and related activity during the six months then ended, is as follows (share amount in thousands): Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2016 346 $ 22.40 Granted 47 23.35 Exercised (14 ) 18.41 Forfeited or expired (13 ) 20.83 Stock options outstanding at March 31, 2017 366 22.73 Exercisable at March 31, 2017 204 21.19 Vested or projected to vest at March 31, 2017 366 22.73 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 six months ended March 31, 2017 : Weighted average fair value per options granted $2.57 Risk-free interest rate 1.11% Assumed dividend yield 1.12% Expected option term 2.0 years Volatility 20.00% The dividend yield is based on the expected dividend rate during the expected life of the option. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant. Expected volatility is based on the historical volatility of FGL’s stock prices after the announcement of an anticipated merger transaction. The expected life of the options granted represents the period of time from the grant date to the estimated closing date of an anticipated merger transaction, reflecting the midpoint of possible scenarios. FGL granted 29 thousand and 26 thousand restricted shares to a certain officer in the six months ended March 31, 2017 and March 31, 2016 , respectively. These shares vest in equal installments over a period of 3 years . The total fair value of the restricted shares granted in the six months ended March 31, 2017 and 2016 was $1 and $1 , respectively. A summary of FGL’s nonvested restricted shares outstanding as of March 31, 2017 , and related activity during the six 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, 2016 154 $ 22.91 Granted 29 23.35 Vested (89 ) 21.82 Forfeited (5 ) 22.58 Nonvested restricted shares outstanding at March 31, 2017 89 24.15 PRSUs subject to vesting are adjusted based on FGL's financial yearly performance, which is evaluated on two non-GAAP measures: (1) pre-tax adjusted operating income, and (2) return on equity. Depending on the performance results for each year, the ultimate payout of PRSUs could range from zero to 200% of the target award for each year. One-half of the award is earned based on each year’s results for the awards granted in 2015. One-third of the award is earned based on each year's results for the awards granted in 2014. Based on the results achieved in 2016, a total of 11 thousand additional PRSUs were earned and vested during the six months ended March 31, 2017 and the total fair value of the additional PRSUs earned in 2016 was $0 . A summary of nonvested PRSUs outstanding as of March 31, 2017 , and related activity during the period then ended, is as follows (share amount in thousands): Performance Restricted Stock Units (PRSUs) Shares Weighted Average Grant PRSUs outstanding at September 30, 2016 — $ — Granted 11 17.82 Vested (11 ) 17.82 Forfeited or expired — — PRSUs outstanding at March 31, 2017 — — In fourth quarter 2016, FGL decided to settle the Performance Restricted Stock Unit (“PRSU”) awards granted under the FGL Plans in cash upon vesting and, therefore, reclassified these awards from equity to Other Liabilities. The liability for the PRSUs was valued at fair value (market value of the underlying stock) upon reclassification. A total of 634 thousand PRSUs became fully vested as of September 30, 2016 with a total cash payment of $15 made in November 2016 based on the fair value of the award at the time of settlement, which was $23.30 per PRSU. FGLH Plans A summary of FGLH's outstanding stock options as of March 31, 2017 , and related activity during the six months then ended, is as follows (share amount in thousands): FGLH Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2016 82 $ 44.82 Granted — — Exercised (8 ) 47.00 Forfeited or expired — — Stock options outstanding at March 31, 2017 74 44.57 Vested and exercisable at March 31, 2017 74 44.57 At March 31, 2017 , 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 $ 98.83 FGLH common stock fair value $ 145.18 FGL common stock fair value $ 27.80 Risk-free interest rate 1.18% - 1.22% Assumed dividend yield 1.11 % Expected option term 1.59 - 1.75 Volatility 20.00 % The primary input used in the determination of the fair value of FGLH's common stock is the value of the Company's common stock and a discount for lack of liquidity which was increased to 7.5% from the historical assumption of 5% . The dividend yield is based on the expected dividend rate during the expected life of the option. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at March 31, 2017 . Expected volatility is based on the historical volatility of FGL’s stock prices after the announcement of an anticipated merger transaction as well as the estimated timing of the anticipated closing of a transaction. The expected life of the options granted represents the period of time from March 31, 2017 to the estimated closing date of an anticipated merger transaction, reflecting the midpoint of possible scenarios. At March 31, 2017 , the intrinsic value of stock options outstanding, exercisable and vested or expected to vest was $7 , $7 and $7 , respectively. At March 31, 2017 , the weighted average remaining contractual term of stock options outstanding, exercisable and vested or expected to vest was 2 years, 2 years and 2 years, respectively. The intrinsic value of stock options exercised and the amount of cash paid upon exercise during the six months ended March 31, 2017 and 2016 was $1 and $0 , respectively. The amount of cash paid upon vesting for restricted stock units which vested during the six months ended March 31, 2017 and 2016 was $0 and $2 , respectively.

Income Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes represents federal income taxes. The effective tax rate for the three and six months ended March 31, 2017 was 37% and 34% , respectively. The effective tax rate for the three and six months ended March 31, 2016 was 40% and 35% , respectively. The effective tax rate on pre-tax income for the current six month period differs from the U.S Federal statutory rate primarily due to the impact of favorable permanent adjustments. The effective tax rate on pre-tax income for the three month period ended March 31, 2017 differs from the U.S Federal statutory rate primarily due to the valuation allowance placed against the income tax benefit of the Company’s non-life subsidiaries. The Company maintains a valuation allowance against the deferred tax assets of its non-life insurance company subsidiaries. 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. As of March 31, 2017 , the Company had a partial valuation allowance of $52 against its gross deferred tax assets of $139 . The valuation allowance is 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.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company has unfunded investment commitments as of March 31, 2017 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 March 31, 2017 Other invested assets $ 151 Equity securities, available-for-sale 33 Other assets 27 Total $ 211 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 March 31, 2017 , FGL has accrued $2 for guaranty fund assessments that is expected to be offset by estimated future premium tax deductions of $2 . 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 2016 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 October 24, 2016, the parties filed a Joint Motion to amend the January 2, 2015 Final Order and Judgment, to extend the deadline for settlement completion from October 24, 2016 to December 5, 2016. On December 5, 2016, Plaintiff Cressy filed a Notice of Filing Declaration of Settlement Administrator and Status of Completion of Settlement; the Declaration of Settlement Administrator included a certification by the Settlement Administrator that the Company had complied in all respects with the class settlement and that all eligible claims had been paid and the interest enhancement had been implemented pursuant to the terms of the class settlement. At March 31, 2017 , 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 less than $1 . The Company has incurred and paid $6 related to legal fees and other costs and $3 related to settlement costs as of March 31, 2017 . 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. On January 7, 2015, a putative class action complaint was filed in the United States District Court, Western District of Missouri (the "District Court"), 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 and seeks unspecified compensatory damages for the putative class in an amount not presently determinable, treble damages, and other relief, and claims Plaintiff Ludwick overpaid $0 for her annuity. On February 12, 2016, the District Court granted the Defendants’ joint motion to dismiss the Plaintiff’s claims. On March 3, 2016, Plaintiff Ludwick filed a Notice of Appeal to the United States Court of Appeals for the Eighth Circuit (the “Court of Appeals”). On April 13, 2017, the Court of Appeals affirmed the District Court’s decision to dismiss the Plaintiff’s claims. The Plaintiff has no appeal as of right from the Court of Appeals’ decision but may seek discretionary review by the Court of Appeals en banc or by the United States Supreme Court. The Plaintiff’s time to seek discretionary review will expire on July 12, 2017. As of the date of this report, FGL does not have sufficient information to determine whether it has exposure to any losses that would be either probable or reasonably estimable beyond an expense contingency estimate of $2 , which was accrued during the year ended September 30, 2016.

Reinsurance

Reinsurance	6 Months Ended
	Mar. 31, 2017
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance The effect of reinsurance on premiums earned and benefits incurred and reserve changes (net benefits incurred) for the three and six months ended March 31, 2017 and 2016 were as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 59 $ 343 $ 63 $ 261 $ 116 $ 412 $ 127 $ 508 Assumed — — — 1 — — — 1 Ceded (56 ) (75 ) (47 ) (74 ) (102 ) (124 ) (96 ) (140 ) Net $ 3 $ 268 $ 16 $ 188 $ 14 $ 288 $ 31 $ 369 Amounts payable or recoverable for reinsurance on paid and unpaid claims are not subject to periodic or maximum limits. During the three and six months ended March 31, 2017 and 2016 , the Company did not write off any reinsurance balances. During the three and six months ended March 31, 2017 and 2016 , the Company did not commute any ceded reinsurance. Effective September 1, 2016, FGL Insurance recaptured a certain block of life insurance ceded to Swiss Re and simultaneously ceded this business to Wilton Re. Effective January 1, 2017, the Company entered into a reinsurance agreement with Hannover Re, a third party reinsurer, to reinsure an inforce block of its FIA and fixed deferred annuity contracts with Guaranteed Minimum Withdraw Benefit (“GMWB”) and Guaranteed Minimum Death Benefit (“GMDB”) secondary guarantees. In accordance with the terms of this agreement, the Company cedes 70% net retention of secondary guarantee payments in excess of account value for GMWB and GMDB guarantees. This transaction resulted in a $185 favorable impact to statutory surplus on the effective date of the transaction and resulted in no GAAP impact as we are following deposit accounting. 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	6 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and September 30, 2016 , the Company's reinsurance recoverable related to FSRCI included $1,067 and $1,120 , respectively, and funds withheld for reinsurance liabilities included $1,132 and $1,172 , respectively. Below are the ceded operating results to FSRCI for the three and six months ended March 31, 2017 and 2016 : Three Months Ended Six Months Ended Revenues: March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Premiums $ 1 $ 1 $ 1 $ 1 Net investment income 12 15 23 32 Net investment gains (losses) 6 (8 ) 3 (7 ) Insurance and investment product fees — 1 1 2 Total revenues 19 9 28 28 Benefits and expenses: Benefits and other changes in policy reserves (14 ) (11 ) (16 ) (24 ) Acquisition & operating expenses, net of deferrals (1 ) (1 ) (2 ) (2 ) Total benefits and expenses (15 ) (12 ) (18 ) (26 ) Operating income (loss) $ 4 $ (3 ) $ 10 $ 2 FGL Insurance invested in CLO securities issued by Fortress Credit Opportunities III CLO LP ("FCO III") and also invested in securities issued by Fortress Credit BSL Limited ("Fortress BSL"). The parent of both FCO III and Fortress BSL is Fortress Investment Group LLC, which acquired interests greater than 10% ownership in HRG as of September 30, 2014. In March 2016, Hildene Leveraged Credit, LLC (“HLC”) sold four CLOs to Fortress Investment Group LLC. The four Hildene CLOs are now managed by an affiliate of Fortress Investment Group LLC, Fortress Credit Advisors, LLC. As of March 31, 2017 , the Company held two of these CLOs at par. In August 2016, FGL purchased a commercial real estate CLO from Fortress Investment Group LLC. In October 2016, FGL purchased bonds of Spectrum Brands, Inc., a wholly owned subsidiary of HRG Group, and in March 2017, FGL purchased asset backed CLOs from FCO III. The carrying value of these affiliated investments as of March 31, 2017 and September 30, 2016 are disclosed in the tables below. 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 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 March 31, 2017 and September 30, 2016 are disclosed in the tables below. On February 27, 2015, FGL Insurance entered into a transaction with Salus whereby Salus transferred $14 of loan participations and $16 of CLO subordinated debt (i.e., equity tranche) to FGL Insurance in exchange for retirement of the $20 promissory note and $10 revolving loan owed by Salus to FGL Insurance resulting in the termination of these facilities. Additionally, FGL Insurance also entered into a transaction with the Salus CLO whereby FGL Insurance transferred $29 of loan participations into the CLO in exchange for $27 of CLO subordinated notes (i.e., equity tranche) and a promissory note of $3 from Salus. Both transactions qualified as sales of financial assets accounted for at fair value and therefore did not result in any gain or loss. FGL Insurance also concluded that it was 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. On June 13, 2016, the Salus promissory note was repaid for $2 and all obligations under the note were satisfied. 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 one of our Salus loan participations. In August of 2015 and October of 2015, FGL entered into separate engagement letters with Credit Suisse and Jefferies, respectively, pursuant to which Credit Suisse and Jefferies agreed (on a non-exclusive basis) to provide financial advisory services to FGL in connection with a transaction involving a merger or other similar transaction with respect to at least a majority of the capital stock of FGL. The Credit Suisse engagement was extended by an amendment dated March 15, 2017. HRG, the holder of a majority of shares of outstanding common stock of FGL, is also a party to each engagement letter. Under each engagement letter, Credit Suisse and Jefferies, respectively, are entitled to receive a fee which represents a percentage of the value of the transaction, plus reimbursement for all reasonable out-of-pocket expenses incurred by Credit Suisse or Jefferies, as applicable, in connection with their engagement. FGL has also agreed to indemnify Credit Suisse and Jefferies for certain liabilities in connection with their engagement. Under each engagement letter, HRG is required to reimburse FGL for compensation paid by FGL to Credit Suisse or Jefferies under certain circumstances. Specifically, if compensation to Credit Suisse or Jefferies becomes payable in respect of a transaction that involves a disposition of shares of FGL held by HRG (and not other stockholders of FGL), HRG will reimburse FGL for the full amount of such compensation. If compensation to Credit Suisse or Jefferies becomes payable in respect of a transaction that involves a disposition of shares of FGL held by HRG and a disposition of not more than 50% of the shares of FGL held by stockholders of FGL other than HRG, HRG will reimburse FGL for its pro rata portion of such compensation (based on its relative number of shares compared to those held by stockholders of FGL other than HRG). The Company’s related party investments as of March 31, 2017 and September 30, 2016 , and related net investment income for the three and six months ended March 31, 2017 and 2016 are summarized as follows: March 31, 2017 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available-for-sale $ 7 $ — $ 7 Fortress Investment Group CLOs Fixed maturities, available-for-sale 273 2 275 Spectrum Brands, Inc. Fixed maturities, available for sale 2 — 2 Salus preferred equity (a) Equity securities, available-for-sale 1 — 1 HGI energy loan (b) Related party loans 71 — 71 (a) Salus preferred equity is included in the FSRCI funds withheld portfolio, accordingly all income on this asset is ceded to FSRCI. (b) The HGI energy loan is included in the FSRCI funds withheld portfolio, accordingly the income related to this portion is ceded to FSRCI. September 30, 2016 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available for sale $ 19 $ — $ 19 Fortress Investment Group CLOs Fixed maturities, available for sale 225 2 227 Salus preferred equity(a) Equity securities, available for sale 3 — 3 Salus participations (b) Other invested assets 21 — 21 HGI energy loan (c) Related party loans 71 — 71 (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 4 different borrowers with an average loan fair value of $5 as of September 30, 2016 . (c) The 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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Type Investment Income Classification Net investment income Net investment income Net investment income Net investment income Salus CLOs Fixed maturities $ — $ 2 $ 1 $ 5 Fortress Investment Group CLOs Fixed maturities 2 2 5 4 Salus participations Other invested assets — 2 — 3 HGI energy loan Related party loans — 1 — 2 The Company had net realized foreign exchange losses of $1 and $2 for the three and six months ended March 31, 2017 and $1 and $3 for the three and six months ended March 31, 2016 , respectively, related to its CAD denominated loan participations originated by Salus. Additionally, the Company had net foreign exchange derivative and embedded derivative gains (losses) of $0 and $0 for the three and six months ended March 31, 2017 , respectively, and losses of $2 and $0 for the three and six months ended March 31, 2016 , respectively, including losses on CAD currency forward contracts, included in net investment gains (losses). See "Note 5. Derivative Financial Instruments" to the Company’s unaudited Condensed Consolidated Financial Statements for further details. In August 2016, FGL Insurance exchanged the $71 2013 HGI Energy Loan issued by HGI Energy for new notes issued by HGI Energy for the same fair value with an August 2017 maturity date. The new notes issued are held in the FSRCI funds withheld portfolio . Effective May 1, 2017, FGL Insurance and HGI Energy extended the maturity date of the new notes until the earlier of: June 30, 2018 or a change in control of FGL Insurance. In addition, the parties have agreed to increase the rate of interest on the “New Notes” from 0.71% to 1.50% . The Company’s gross realized gains and net realized impairment losses on related party investments as of March 31, 2017 and September 30, 2016 are summarized as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Type Investment Income Classification Net realized gains (losses) Net realized gains (losses) Net realized gains (losses) Net realized gains (losses) Salus CLOs (a) Fixed maturities $ — $ (1 ) $ (1 ) $ (5 ) Salus participations (b) Other invested assets (2 ) — (1 ) (1 ) Salus preferred equity (c) Other invested assets — — (3 ) — (a) Net of impairments of $0 and $1 for the three and six months ended March 31, 2017 , respectively. Net of impairments of $1 and $5 for the three and six months ended March 31, 2016 , respectively. (b) Net of impairments of $2 and $2 for the three and six months ended March 31, 2017 , respectively. Net of impairments of $0 and $1 for the three and six months ended March 31, 2016 , respectively. (c) Net of impairments of $0 and $3 for the three and six months ended March 31, 2017 , respectively. Net of impairments of $0 and $0 for the three and six months ended March 31, 2016 , respectively. During the six months ended March 31, 2017 , the Company has investment management agreements with Salus, a wholly-owned subsidiary of HGI Asset Management Holdings, LLC, which is also a wholly owned subsidiary of HRG. During the six months ended March 31, 2016 , the Company has investment management agreements with Salus, CorAmerica Capital, LLC and Energy & Infrastructure Capital, LLC ("EIC"), all wholly-owned subsidiaries of HGI Asset Management Holdings, LLC, which is also a wholly owned subsidiary of HRG. The agreement for EIC was terminated in July 2016, and CorAmerica is no longer a wholly-owned subsidiary of HGI Asset Management Holdings. The Company paid management fees to these entities for the services provided under these agreements, which are usual and customary for these types of services, as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Salus $ — $ — $ — $ — CorAmerica Capital, LLC — 1 1 1 EIC — — — —

Earnings Per Share

Earnings Per Share	6 Months Ended
	Mar. 31, 2017
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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Net income attributable to common shares - basic $ 22 $ 9 $ 130 $ 57 Weighted-average common shares outstanding - basic 58,326 58,307 58,303 58,263 Dilutive effect of unvested restricted stock & PRSU 20 277 39 283 Dilutive effect of stock options 36 27 33 27 Weighted-average shares outstanding - diluted 58,382 58,611 58,375 58,573 Net income per common share: Basic $ 0.38 $ 0.16 $ 2.23 $ 0.98 Diluted $ 0.38 $ 0.16 $ 2.23 $ 0.98 The number of shares of common stock outstanding used in calculating the weighted average thereof reflects the actual number of FGL shares of common stock outstanding, excluding unvested restricted stock and shares held in treasury. The calculation of diluted earnings per share for the three and six months ended March 31, 2017 and 2016 excludes the incremental effect related to certain outstanding stock options and restricted shares due to their anti-dilutive effect. The number of weighted average equivalent shares excluded is 4 thousand and 8 thousand shares for the three months ended March 31, 2017 and 2016, respectively and 18 thousand and 6 thousand shares for the six months ended March 31, 2017 and 2016, respectively. In the fourth quarter 2016, we decided to settle the performance restricted stock units in cash upon vesting and, therefore, the performance restricted stock units are excluded from the computation of diluted earnings per share in the three and six months ended March 31, 2017. 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	6 Months Ended
	Mar. 31, 2017
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 $189 and $201 at March 31, 2017 and September 30, 2016 , 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 at March 31, 2017 and September 30, 2016 . Without such permitted statutory accounting practices Raven Re’s statutory capital and surplus would be $7 and $5 as of March 31, 2017 and September 30, 2016 , 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 March 31, 2017 and September 30, 2016 was $200 and $210 , 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 no increase to statutory capital and surplus at March 31, 2017 . 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 had the effect of setting FGL Insurance’s statutory unassigned surplus to zero as of this date. The prescribed and permitted statutory accounting practices have 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)	6 Months Ended
	Mar. 31, 2017
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 and any variable interest entities ("VIEs") in which we are the primary beneficiary. All intercompany accounts and transactions have been eliminated in consolidation.
Variable Interest Entity	We are involved in certain entities that are considered VIEs as defined under 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. If we determine we are the primary beneficiary of a VIE, we consolidate the assets and liabilities of the VIE in our consolidated financial statements. See "Note 4. Investments" to the Company’s unaudited Condensed Consolidated Financial Statements for additional information on the Company’s investments in unconsolidated VIEs.
Adoption of New Accounting Pronouncements	Adoption of New Accounting Pronouncements Share-Based Payments When a Performance Target is Achieved after the Requisite Service Period In June 2014, the FASB issued new guidance on Stock Compensation (ASU 2014-12, Accounting for Share-Based Payments When the Term of an Award Provide that a Performance Target Could Be Achieved after the Requisite Service Period ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. The new guidance requires performance targets that affect vesting and that could be achieved after the requisite service period to be treated as performance conditions. Such performance targets will not be included in the grant-date fair value calculation of the award, rather compensation cost will be recorded when it is probable the performance target will be reached and should represent the compensation cost attributable to period(s) for which the requisite service has already been rendered. The Company adopted this guidance effective October 1, 2016, as required. The adoption of ASU 2014-12 will not impact the Company's consolidated financial statements or related disclosures, as the Company has historically treated the performance targets for its share-based payment awards as a performance condition that affects vesting and has not reflected the targets in the grant-date fair value calculation of the awards. Amendments to the Consolidation Analysis In February 2015, the FASB issued amended consolidation guidance (ASU 2015-02, Amendments to the Consolidation Analysis ), effective for fiscal years beginning after December 15, 2015. The amended guidance changes the consolidation analysis of reporting entities with variable interest entity ("VIE") relationships by i) modifying the criteria used to evaluate whether limited partnerships and similar legal entities are VIEs or voting interest entities and revising the primary beneficiary determination of a VIE, ii) eliminating the specialized consolidation model and guidance for limited partnerships thereby removing the presumption that a general partner should consolidate a limited partnership, iii) reducing the criteria in the variable interest model contained in Accounting Standards Codification Topic 810, Consolidation , that is used to evaluate whether the fees paid to a decision maker or service provider represents a variable interest, and iv) exempting reporting entities from consolidating money market funds that operate in accordance with Rule 2a-7 of the Investment Company Act of 1940. The Company adopted ASU 2015-02 effective October 1, 2016, as required. The adoption of ASU 2015-02 will not impact the Company's consolidated financial statements or related disclosure as the Company determined that this new guidance does not change its conclusions regarding consolidation of its VIEs. Presentation of Debt Issuance Costs In April 2015, the FASB issued amended guidance (ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30 ), Simplifying the Presentation of Debt Issuance Costs ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. The amended guidance requires debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt discounts or premiums. The cost of issuing debt will no longer be recorded as a separate asset, except when incurred before the receipt of the funding from the associated debt liability. Instead, debt issuance costs will be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability, and the costs will be amortized to interest expense using the effective interest method. The Company adopted ASU 2015-03 effective October 1, 2016, as required. The Company retrospectively considered adjustments to adjust its historical balance sheets to present deferred debt issuance costs related to the Company's debt as a reduction of the debt liability. As the Company's debt issuance costs were fully amortized as of the period ended September 30, 2016, there is no impact to the current period financial statements. Accounting for Fees Paid in Cloud Computing Arrangements In April 2015, the FASB issued amended guidance (ASU 2015-05, Customer's Accounting for Fees Paid in a Cloud Computing Arrangement ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. Previous GAAP did not include explicit guidance regarding a customer's accounting for fees paid in a cloud computing arrangement, which may include software as a service, platform as a service, infrastructure as a service, and other similar hosting arrangements. The adopted guidance addresses whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The Company prospectively adopted ASU 2015-05 effective as of October 1, 2016, as required, for all new or materially modified cloud computing arrangements that contain a software license component. Investments That Calculate Net Asset Value per Share In May 2015, the FASB issued amended guidance (ASU 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) ), effective for fiscal years beginning after December 15, 2015 and interim periods within those years. Previous GAAP required that investments for which fair value is measured at net asset value (or its equivalent) using the practical expedient in Topic 820 be categorized within the fair value hierarchy using criteria that differ from the criteria used to categorize other fair value measurements within the hierarchy. Previously, investments valued using the practical expedient were categorized within the fair value hierarchy on the basis of whether the investment is redeemable with the investee at net asset value on the measurement date, never redeemable with the investee at net asset value, or redeemable with the investee at net asset value at a future date. For investments that are redeemable with the investee at a future date, a reporting entity will take into account the length of time until those investments become redeemable to determine the classification within the fair value hierarchy. There is diversity in practice related to how certain investments measured at net asset value with redemption dates in the future (including periodic redemption dates) are categorized within the fair value hierarchy. Under the amendments in this Update, investments for which fair value will be measured at net asset value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Removing those investments from the fair value hierarchy not only eliminates the diversity in practice resulting from the way in which investments measured at net asset value per share (or its equivalent) with future redemption dates are classified, but also ensures that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share (or its equivalent), but for which the practical expedient is not applied will continue to be included in the fair value hierarchy. The Company adopted ASU 2015-07 effective October 1, 2016, as required, and has updated the fair value disclosures to reflect the amended guidance. Refer to "Note 6. Fair Value of Financial Instruments" for further details. Future Adoption of Accounting Pronouncements Presentation of Changes in Restricted Cash on the Cash Flow Statement In November 2016, the FASB issued amended guidance (ASU 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash ), effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The ASU will require amounts generally described as changes in restricted cash and restricted cash equivalents to be included with cash and cash equivalents on the statement of cash flows. The amendments in this ASU may be early adopted during any period or interim period, however, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The amendments should be applied using a retrospective transition method to each period presented. The Company will not early adopt this standard. The adoption of this guidance is not expected to have a material impact on the Company's consolidated statements of cash flows. Technical Corrections and Improvements In December 2016, the FASB issued new guidance on the Simplification of Topics Within Insurance and Debt Restructuring (ASU 2016-19, Technical Corrections and Improvements ), effective upon issuance for most amendments in the Update. For several items requiring transition guidance, the ASU identifies adoption dates specific to those items. The amendments cover a wide range of topics in the Accounting Standards Codification ("ASC") and will correct differences between original guidance and the ASC, clarify guidance through updated wording or corrected references, and simplify guidance through minor editing. The amendments in this ASU that do not require transition guidance were effective upon issuance, however, those that require transition guidance may be early adopted. The Company adopted the amendments that do not require transition guidance upon issuance of ASU 2016-19 with no impact on its financial statements. The Company will not early adopt the guidance in this standard that require transition guidance. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB issued new guidance on the amortization of callable securities (ASU 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities) , effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2017-08 may be early adopted. The ASU will require premiums paid on purchased debt securities with an explicit call option to be amortized to the earliest call date, as opposed to the maturity date (as under current GAAP). The updated guidance is applicable to instruments that are callable based on explicit, non-contingent call features that are callable at fixed prices on preset dates. The amendments in this update should be applied using the modified retrospective method through a cumulative effect adjustment directly to retained earnings as of the beginning of the period 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)	6 Months Ended
	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Securities	The Company’s consolidated investments at March 31, 2017 and September 30, 2016 are summarized as follows: March 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for sale securities Asset-backed securities $ 2,650 $ 33 $ (14 ) $ 2,669 $ 2,669 Commercial mortgage-backed securities 961 9 (19 ) 951 951 Corporates 11,621 521 (164 ) 11,978 11,978 Equities 682 35 (5 ) 712 712 Hybrids 1,349 61 (35 ) 1,375 1,375 Municipals 1,582 119 (21 ) 1,680 1,680 Residential mortgage-backed securities 1,253 75 (16 ) 1,312 1,312 U.S. Government 85 2 — 87 87 Total available-for-sale securities 20,183 855 (274 ) 20,764 20,764 Derivative investments 218 139 (6 ) 351 351 Commercial mortgage loans 579 — — 576 579 Other invested assets 119 — — 115 119 Total investments $ 21,099 $ 994 $ (280 ) $ 21,806 $ 21,813 September 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Carrying Value Available-for-sale securities Asset-backed securities $ 2,528 $ 16 $ (45 ) $ 2,499 $ 2,499 Commercial mortgage-backed securities 850 23 (9 ) 864 864 Corporates 10,712 760 (132 ) 11,340 11,340 Equities 640 47 (4 ) 683 683 Hybrids 1,356 77 (47 ) 1,386 1,386 Municipals 1,515 206 (4 ) 1,717 1,717 Residential mortgage-backed securities 1,327 63 (28 ) 1,362 1,362 U.S. Government 233 10 — 243 243 Total available-for-sale securities 19,161 1,202 (269 ) 20,094 20,094 Derivative investments 221 78 (23 ) 276 276 Commercial mortgage loans 595 — — 614 595 Other invested assets 60 — — 58 60 Total investments $ 20,037 $ 1,280 $ (292 ) $ 21,042 $ 21,025
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. March 31, 2017 Amortized Cost Fair Value Corporates, Non-structured Hybrids, Municipal and U.S. Government securities: Due in one year or less $ 342 $ 346 Due after one year through five years 1,786 1,835 Due after five years through ten years 3,162 3,257 Due after ten years 8,607 8,947 Subtotal 13,897 14,385 Other securities which provide for periodic payments: Asset-backed securities 2,650 2,669 Commercial mortgage-backed securities 961 951 Structured hybrids 740 735 Residential mortgage-backed securities 1,253 1,312 Subtotal 5,604 5,667 Total fixed maturity available-for-sale securities $ 19,501 $ 20,052
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: March 31, 2017 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 $ 314 $ (2 ) $ 766 $ (12 ) $ 1,080 $ (14 ) Commercial mortgage-backed securities 355 (7 ) 183 (12 ) 538 (19 ) Corporates 2,004 (59 ) 1,006 (105 ) 3,010 (164 ) Equities 130 (3 ) 30 (2 ) 160 (5 ) Hybrids 85 (5 ) 363 (30 ) 448 (35 ) Municipals 427 (17 ) 39 (4 ) 466 (21 ) Residential mortgage-backed securities 58 — 357 (16 ) 415 (16 ) U.S. Government 6 — — — 6 — Total available-for-sale securities $ 3,379 $ (93 ) $ 2,744 $ (181 ) $ 6,123 $ (274 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 494 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 437 Total number of available-for-sale securities in an unrealized loss position 931 September 30, 2016 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 $ 352 $ (4 ) $ 1,368 $ (41 ) $ 1,720 $ (45 ) Commercial mortgage-backed securities 44 (1 ) 182 (8 ) 226 (9 ) Corporates 413 (9 ) 1,031 (123 ) 1,444 (132 ) Equities 51 (1 ) 75 (3 ) 126 (4 ) Hybrids 41 (2 ) 412 (45 ) 453 (47 ) Municipals 69 (2 ) 38 (2 ) 107 (4 ) Residential mortgage-backed securities 70 (1 ) 544 (27 ) 614 (28 ) Total available-for-sale securities $ 1,040 $ (20 ) $ 3,650 $ (249 ) $ 4,690 $ (269 ) Total number of available-for-sale securities in an unrealized loss position less than twelve months 193 Total number of available-for-sale securities in an unrealized loss position twelve months or longer 543 Total number of available-for-sale securities in an unrealized loss position 736
Reconciliation of Other-than-Temporary Impairment on Fixed Maturity	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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 OTTI Recognized in Net Income: Asset-backed securities $ — $ 1 $ 1 $ 5 Corporates 20 — 20 6 Other invested assets 1 — 1 — Total $ 21 $ 1 $ 22 $ 11 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 and six months ended March 31, 2017 and 2016 , for which a portion of the OTTI was recognized in AOCI: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Beginning balance $ 3 $ 3 $ 3 $ 3 Increases attributable to credit losses on securities: OTTI was previously recognized — — — — OTTI was not previously recognized — — — — Ending balance $ 3 $ 3 $ 3 $ 3
Schedule of Loans	The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables: March 31, 2017 September 30, 2016 Gross Carrying Value % of Total Gross Carrying Value % of Total Property Type: Funeral Home $ 1 — % $ 1 — % Hotel 23 4 % 23 4 % Industrial - General 46 8 % 58 10 % Industrial - Warehouse 65 11 % 64 11 % Multifamily 69 12 % 70 11 % Office 158 27 % 160 27 % Retail 218 38 % 220 37 % Total commercial mortgage loans, gross of valuation allowance $ 580 100 % $ 596 100 % Allowance for loan loss (1 ) (1 ) Total commercial mortgage loans $ 579 $ 595 U.S. Region: East North Central $ 135 23 % $ 137 23 % East South Central 20 4 % 21 4 % Middle Atlantic 86 15 % 97 16 % Mountain 68 12 % 67 12 % New England 14 2 % 14 2 % Pacific 135 23 % 136 23 % South Atlantic 66 12 % 67 11 % West North Central 14 2 % 14 2 % West South Central 42 7 % 43 7 % Total commercial mortgage loans, gross of valuation allowance $ 580 100 % $ 596 100 % Allowance for loan loss (1 ) (1 ) Total commercial mortgage loans $ 579 $ 595 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 default. March 31, 2017 September 30, 2016 Gross balance commercial mortgage loans $ 580 $ 596 Allowance for loan loss (1 ) (1 ) Net balance commercial mortgage loans $ 579 $ 595
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 March 31, 2017 and September 30, 2016 : Debt Service Coverage Ratios Total Amount % of Total Estimated Fair Value % of Total >1.25 1.00 - 1.25 < 1.00 N/A(a) March 31, 2017 LTV Ratios: Less than 50% $ 184 $ — $ 18 $ 1 $ 203 35 % $ 201 35 % 50% to 60% 242 — — — 242 42 % 241 42 % 60% to 75% 112 7 16 — 135 23 % 134 23 % Commercial mortgage loans $ 538 $ 7 $ 34 $ 1 $ 580 100 % $ 576 100 % September 30, 2016 LTV Ratios: Less than 50% $ 158 $ 18 $ — $ 1 $ 177 29 % $ 181 29 % 50% to 60% 189 — — — 189 32 % 194 32 % 60% to 75% 230 — — — 230 39 % 239 39 % Commercial mortgage loans $ 577 $ 18 $ — $ 1 $ 596 100 % $ 614 100 % (a) N/A - Current DSC ratio not available.
Loan Receivable Aging	The following provides the current and past due composition of our CMLs: March 31, 2017 September 30, 2016 Current to 30 days $ 580 $ 596 Past due — — Total carrying value $ 580 $ 596
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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Fixed maturity securities, available-for-sale $ 236 $ 211 $ 464 $ 421 Equity securities, available-for-sale 10 8 20 16 Commercial mortgage loans 6 6 12 12 Related party loans — 1 — 2 Invested cash and short-term investments — 2 — 2 Other investments 1 4 2 5 Gross investment income 253 232 498 458 Investment expense (6 ) (5 ) (11 ) (9 ) Net investment income $ 247 $ 227 $ 487 $ 449
Net Investment Gains	Details underlying “Net investment gains (losses)” reported on the accompanying unaudited Condensed Consolidated Statements of Operations were as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Net realized gains (losses) on fixed maturity available-for-sale securities $ (17 ) $ 7 $ (15 ) $ 2 Realized gains (losses) on equity securities — 1 — 1 Change in fair value of other derivatives and embedded derivatives 1 (1 ) 1 1 Realized losses on other invested assets (1 ) (1 ) (3 ) (3 ) Net realized (losses) gains on available-for-sale securities (17 ) 6 (17 ) 1 Realized gains (losses) on certain derivative instruments 75 (42 ) 76 (54 ) Unrealized gains (losses) on certain derivative instruments 34 11 72 64 Change in fair value of reinsurance related embedded derivative (11 ) (17 ) 1 10 Realized (losses) gains on hedging derivatives and reinsurance-related embedded derivatives 98 (48 ) 149 20 Net investment gains (losses) $ 81 $ (42 ) $ 132 $ 21

Derivative Financial Instrume26

Derivative Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2017
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: March 31, 2017 September 30, 2016 Assets: Derivative investments: Call options $ 351 $ 276 Futures contracts — — Other invested assets: Other derivatives and embedded derivatives 14 13 Other assets: Reinsurance related embedded derivative 120 119 $ 485 $ 408 Liabilities: Contractholder funds: FIA embedded derivative $ 2,362 $ 2,383 Funds withheld for reinsurance liabilities: Call options payable to FSRCI 13 11 $ 2,375 $ 2,394
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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Revenues: Net investment gains (losses): Call options $ 105 $ (29 ) $ 144 $ 7 Futures contracts 4 (2 ) 4 3 Other derivatives and embedded derivatives 1 (1 ) 1 1 Reinsurance related embedded derivative (11 ) (17 ) 1 10 $ 99 $ (49 ) $ 150 $ 21 Benefits and other changes in policy reserves FIA embedded derivatives $ 112 $ 48 $ (21 ) $ 99
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: March 31, 2017 September 30, 2016 Counterparty Credit Rating (Fitch/Moody's/S&P) (a) Notional Fair Value Collateral Net Credit Risk Notional Amount Fair Value Collateral Net Credit Risk Merrill Lynch A/*/A+ $ 4,092 $ 135 $ 100 $ 35 $ 2,302 $ 55 $ 10 $ 45 Deutsche Bank A/A3/A- 86 9 — 9 1,620 46 12 34 Morgan Stanley */A1/A+ 2,125 81 90 (9 ) 2,952 87 58 29 Barclay's Bank A/A1/A- 1,436 48 7 41 1,389 39 — 39 Canadian Imperial Bank of Commerce AA-/Aa3/A+ 2,479 78 78 — 1,623 49 48 1 Total $ 10,218 $ 351 $ 275 $ 76 $ 9,886 $ 276 $ 128 $ 148 (a) An * represents credit ratings that were not available.

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Assets and Liabilities Carrying at Fair Value on Recurring Basis	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. March 31, 2017 Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets Commercial mortgage loans $ — $ — $ 576 $ 576 $ 579 Policy loans, included in other invested assets — — 11 11 15 Related party loans — — 71 71 71 Total $ — $ — $ 658 $ 658 $ 665 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 15,759 $ 15,759 $ 17,690 Debt — 301 105 406 405 Total $ — $ 301 $ 15,864 $ 16,165 $ 18,095 September 30, 2016 Level 1 Level 2 Level 3 Total Estimated Fair Value Carrying Amount Assets Commercial mortgage loans $ — $ — $ 614 $ 614 $ 595 Policy loans, included in other invested assets — — 13 13 14 Related party loans — — 71 71 71 Total $ — $ — $ 698 $ 698 $ 680 Liabilities Investment contracts, included in contractholder funds $ — $ — $ 14,884 $ 14,884 $ 16,868 Debt — 300 100 400 400 Total $ — $ 300 $ 14,984 $ 15,284 $ 17,268 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: March 31, 2017 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 887 $ — $ — $ 887 $ 887 Fixed maturity securities, available-for-sale: Asset-backed securities — 2,485 184 2,669 2,669 Commercial mortgage-backed securities — 873 78 951 951 Corporates — 10,872 1,106 11,978 11,978 Hybrids — 1,365 10 1,375 1,375 Municipals — 1,642 38 1,680 1,680 Residential mortgage-backed securities — 1,312 — 1,312 1,312 U.S. Government 54 33 — 87 87 Equity securities, available-for-sale 14 654 1 669 669 Derivative financial instruments — 351 — 351 351 Reinsurance related embedded derivative, included in other assets — 120 — 120 120 Other invested assets — — 14 14 14 Total financial assets at fair value $ 955 $ 19,707 $ 1,431 $ 22,093 $ 22,093 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 2,362 $ 2,362 $ 2,362 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 13 — 13 13 Total financial liabilities at fair value $ — $ 13 $ 2,362 $ 2,375 $ 2,375 September 30, 2016 Level 1 Level 2 Level 3 Fair Value Carrying Amount Assets Cash and cash equivalents $ 864 $ — $ — $ 864 $ 864 Fixed maturity securities, available-for-sale: Asset-backed securities — 2,327 172 2,499 2,499 Commercial mortgage-backed securities — 785 79 864 864 Corporates — 10,219 1,121 11,340 11,340 Hybrids — 1,386 — 1,386 1,386 Municipals — 1,676 41 1,717 1,717 Residential mortgage-backed securities — 1,362 — 1,362 1,362 U.S. Government 61 182 — 243 243 Equity securities, available-for-sale 22 617 3 642 642 Derivative financial instruments — 276 — 276 276 Reinsurance related embedded derivative, included in other assets — 119 — 119 119 Other invested assets — — 34 34 34 Total financial assets at fair value $ 947 $ 18,949 $ 1,450 $ 21,346 $ 21,346 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ — $ — $ 2,383 $ 2,383 $ 2,383 Call options payable for FSRCI, included in funds withheld for reinsurance liabilities — 11 — 11 11 Total financial liabilities at fair value $ — $ 11 $ 2,383 $ 2,394 $ 2,394
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 March 31, 2017 and September 30, 2016 are as follows: Fair Value at Valuation Range (Weighted average) March 31, 2017 Technique Unobservable Input(s) March 31, 2017 Assets Asset-backed securities $ 178 Broker-quoted Offered quotes 88.00% - 100.48% Asset-backed securities (Salus CLO equity tranche) 6 Third-party Valuation Offered quotes 11.87% Discount rate 15.00% Other loan recoveries 0.00% - 100.00% Commercial mortgage-backed securities 74 Broker-quoted Offered quotes 107.16% - 122.00% Commercial mortgage-backed securities 4 Matrix pricing Quoted prices 100.44% - 100.44% Corporates 862 Broker-quoted Offered quotes 59.00% - 112.00% Corporates 244 Matrix pricing Quoted prices 93.56% - 116.52% Hybrids 10 Broker-quoted Offered quotes 96.10% - 96.10% Municipals 38 Broker-quoted Offered quotes 110.89% - 110.89% Equity securities available-for-sale (Salus preferred equity) 1 Income-approach Yield 0.70% - 3.10% Discount rate 7.00% - 9.00% Salus CLO Equity 11.87% Other invested assets: Available-for-sale embedded derivative 14 Black-Scholes model Market value of AnchorPath fund 100.00% Total $ 1,431 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 2,362 Discounted cash flow Market value of option 0.00% - 24.11% SWAP rates (discount rates) 2.05% - 2.38% Mortality multiplier 80.00% - 80.00% Surrender rates 0.50% - 75.00% Non-performance spread 0.25% - 0.25% Future option budget 1.13% - 5.57% Total liabilities at fair value $ 2,362 Fair Value at Valuation Unobservable Range (Weighted average) September 30, 2016 Technique Input(s) September 30, 2016 Assets Asset-backed securities $ 144 Broker-quoted Offered quotes 97.54% - 101.55% Asset-backed securities 9 Matrix Pricing Quoted prices 98.75% Asset-backed securities (Salus CLO equity tranche) 19 Third-Party Valuation Offered quotes 28.37% Discount rate 15.00% RSH recovery 5.50% Other loan recoveries 0.00% - 100.00% Commercial mortgage-backed securities 75 Broker-quoted Offered quotes 104.31% - 122.19% Commercial mortgage-backed securities 4 Matrix pricing Quoted prices 98.41% - 98.41% Corporates 920 Broker-quoted Offered quotes 50.00% - 118.33% Corporates 201 Matrix pricing Quoted prices 99.00% - 150.23% Municipals 41 Broker-quoted Offered quotes 119.04% - 119.04% Equity securities available-for-sale (Salus preferred equity) 3 Market-approach Yield 11.00% RSH recovery 5.50% Discount rate 15.00% Salus CLO equity 28.37% Other invested assets: Available-for-sale embedded derivative 13 Black-Scholes Model Market value of AnchorPath fund 100.00% Loan participations - Other 2 Market Pricing Offered quotes 100.00% Loan participations - JSN Jewellery Inc. 17 Liquidation value – 52.5% recovery estimate Recovery estimate (wind-down costs) 49.93% - 56.67% Loan participation - RadioShack (RSH) Corporation 2 Liquidation value – 5% recovery estimate Recovery estimate (wind-down costs) 1.36% - 14.28% Total $ 1,450 Liabilities Derivatives: FIA embedded derivatives, included in contractholder funds $ 2,383 Discounted cash flow Market value of option 0.00% - 26.64% SWAP rates (discount rates) 1.18% - 1.46% Mortality multiplier 80.00% - 80.00% Surrender rates 0.50% - 75.00% Non-performance spread 0.25% - 0.25% Future option budget 1.15% - 5.57% Total liabilities at fair value $ 2,383
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 and six months ended March 31, 2017 and 2016 , 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 March 31, 2017 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 $ 197 $ — $ 1 $ — $ — $ (9 ) $ (5 ) $ 184 Commercial mortgage-backed securities 85 — 1 — — — (8 ) 78 Corporates 1,078 — 5 60 — (33 ) (4 ) 1,106 Hybrids 10 — — — — — — 10 Municipals 37 — 1 — — — — 38 Equity securities available-for-sale 1 — — — — — — 1 Other invested assets: Available-for-sale embedded derivative 13 1 — — — — — 14 Loan participations 6 (1 ) — — — (5 ) — — Total assets at Level 3 fair value $ 1,427 $ — $ 8 $ 60 $ — $ (47 ) $ (17 ) $ 1,431 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,250 $ 112 $ — $ — $ — $ — $ — $ 2,362 Total liabilities at Level 3 fair value $ 2,250 $ 112 $ — $ — $ — $ — $ — $ 2,362 (a) The net transfers out of Level 3 during the three months ended March 31, 2017 were exclusively to Level 2. Six months ended March 31, 2017 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 $ 172 $ (1 ) $ — $ 63 $ — $ (16 ) $ (34 ) $ 184 Commercial mortgage-backed securities 79 — (1 ) 8 — — (8 ) 78 Corporates 1,121 (1 ) (36 ) 111 (5 ) (81 ) (3 ) 1,106 Hybrids — — — 10 — — — 10 Municipals 41 — (2 ) — — (1 ) — 38 Equity securities available-for-sale 3 (2 ) — — — — — 1 Available-for-sale embedded derivative 13 1 — — — — — 14 Loan participations 21 (2 ) — — — (19 ) — — Total assets at Level 3 fair value $ 1,450 $ (5 ) $ (39 ) $ 192 $ (5 ) $ (117 ) $ (45 ) $ 1,431 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,383 $ (21 ) $ — $ — $ — $ — $ — $ 2,362 Total liabilities at Level 3 fair value $ 2,383 $ (21 ) $ — $ — $ — $ — $ — $ 2,362 (a) The net transfers out of Level 3 during the six months ended March 31, 2017 were exclusively to Level 2. Three months ended March 31, 2016 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 $ 79 $ (1 ) $ — $ 19 $ — $ — $ (22 ) $ 75 Commercial mortgage-backed securities 139 — 1 — — (1 ) — 139 Corporates 972 — 26 19 — (11 ) — 1,006 Municipals 38 — 1 — — — — 39 Equity securities available-for-sale 11 — — — — — — 11 Other invested assets: Available-for-sale embedded derivative 11 — — — — — — 11 Loan participations 84 — 3 16 — (15 ) — 88 Total assets at Level 3 fair value $ 1,334 $ (1 ) $ 31 $ 54 $ — $ (27 ) $ (22 ) $ 1,369 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,200 $ 48 $ — $ — $ — $ — $ — $ 2,248 Total liabilities at Level 3 fair value $ 2,200 $ 48 $ — $ — $ — $ — $ — $ 2,248 (a) The net transfers out of Level 3 during the three months ended March 31, 2016 were exclusively to Level 2. Six months ended March 31, 2016 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 $ 38 $ (5 ) $ — $ 41 $ — $ — $ 1 $ 75 Commercial mortgage-backed securities 144 — 1 — — (2 ) (4 ) 139 Corporates 964 — 13 63 — (19 ) (15 ) 1,006 Municipals 39 — — — — — — 39 Equity securities available-for-sale 11 — — — — — — 11 Available-for-sale embedded derivative 10 1 — — — — — 11 Loan participations 119 (3 ) 4 34 — (66 ) — 88 Total assets at Level 3 fair value $ 1,325 $ (7 ) $ 18 $ 138 $ — $ (87 ) $ (18 ) $ 1,369 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,149 $ 99 $ — $ — $ — $ — $ — $ 2,248 Total liabilities at Level 3 fair value $ 2,149 $ 99 $ — $ — $ — $ — $ — $ 2,248 (a) The net transfers out of Level 3 during the six months ended March 31, 2016 were exclusively to Level 2.
Unobservable Input Reconciliation, Liabilities	The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three and six months ended March 31, 2017 and 2016 , 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 March 31, 2017 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 $ 197 $ — $ 1 $ — $ — $ (9 ) $ (5 ) $ 184 Commercial mortgage-backed securities 85 — 1 — — — (8 ) 78 Corporates 1,078 — 5 60 — (33 ) (4 ) 1,106 Hybrids 10 — — — — — — 10 Municipals 37 — 1 — — — — 38 Equity securities available-for-sale 1 — — — — — — 1 Other invested assets: Available-for-sale embedded derivative 13 1 — — — — — 14 Loan participations 6 (1 ) — — — (5 ) — — Total assets at Level 3 fair value $ 1,427 $ — $ 8 $ 60 $ — $ (47 ) $ (17 ) $ 1,431 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,250 $ 112 $ — $ — $ — $ — $ — $ 2,362 Total liabilities at Level 3 fair value $ 2,250 $ 112 $ — $ — $ — $ — $ — $ 2,362 (a) The net transfers out of Level 3 during the three months ended March 31, 2017 were exclusively to Level 2. Six months ended March 31, 2017 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 $ 172 $ (1 ) $ — $ 63 $ — $ (16 ) $ (34 ) $ 184 Commercial mortgage-backed securities 79 — (1 ) 8 — — (8 ) 78 Corporates 1,121 (1 ) (36 ) 111 (5 ) (81 ) (3 ) 1,106 Hybrids — — — 10 — — — 10 Municipals 41 — (2 ) — — (1 ) — 38 Equity securities available-for-sale 3 (2 ) — — — — — 1 Available-for-sale embedded derivative 13 1 — — — — — 14 Loan participations 21 (2 ) — — — (19 ) — — Total assets at Level 3 fair value $ 1,450 $ (5 ) $ (39 ) $ 192 $ (5 ) $ (117 ) $ (45 ) $ 1,431 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,383 $ (21 ) $ — $ — $ — $ — $ — $ 2,362 Total liabilities at Level 3 fair value $ 2,383 $ (21 ) $ — $ — $ — $ — $ — $ 2,362 (a) The net transfers out of Level 3 during the six months ended March 31, 2017 were exclusively to Level 2. Three months ended March 31, 2016 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 $ 79 $ (1 ) $ — $ 19 $ — $ — $ (22 ) $ 75 Commercial mortgage-backed securities 139 — 1 — — (1 ) — 139 Corporates 972 — 26 19 — (11 ) — 1,006 Municipals 38 — 1 — — — — 39 Equity securities available-for-sale 11 — — — — — — 11 Other invested assets: Available-for-sale embedded derivative 11 — — — — — — 11 Loan participations 84 — 3 16 — (15 ) — 88 Total assets at Level 3 fair value $ 1,334 $ (1 ) $ 31 $ 54 $ — $ (27 ) $ (22 ) $ 1,369 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,200 $ 48 $ — $ — $ — $ — $ — $ 2,248 Total liabilities at Level 3 fair value $ 2,200 $ 48 $ — $ — $ — $ — $ — $ 2,248 (a) The net transfers out of Level 3 during the three months ended March 31, 2016 were exclusively to Level 2. Six months ended March 31, 2016 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 $ 38 $ (5 ) $ — $ 41 $ — $ — $ 1 $ 75 Commercial mortgage-backed securities 144 — 1 — — (2 ) (4 ) 139 Corporates 964 — 13 63 — (19 ) (15 ) 1,006 Municipals 39 — — — — — — 39 Equity securities available-for-sale 11 — — — — — — 11 Available-for-sale embedded derivative 10 1 — — — — — 11 Loan participations 119 (3 ) 4 34 — (66 ) — 88 Total assets at Level 3 fair value $ 1,325 $ (7 ) $ 18 $ 138 $ — $ (87 ) $ (18 ) $ 1,369 Liabilities FIA embedded derivatives, included in contractholder funds $ 2,149 $ 99 $ — $ — $ — $ — $ — $ 2,248 Total liabilities at Level 3 fair value $ 2,149 $ 99 $ — $ — $ — $ — $ — $ 2,248
Assets Measured Using Net Asset Value Per Share	For further discussion about this adoption see “Note 2. Significant Accounting Policies” to the Company's unaudited Condensed Consolidated Financial Statements. Carrying Value After Measurement March 31, 2017 September 30, 2016 Equity securities available-for-sale $ 43 $ 41 Limited partnership investment, included in other invested assets $ 90 $ 12

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Mar. 31, 2017
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, 2016 $ 19 $ 1,007 $ 1,026 Deferrals — 190 190 Adjustments: Unlocking 10 (7 ) 3 Interest 5 23 28 Amortization (40 ) (147 ) (187 ) Adjustment for unrealized investment losses (gains) 15 109 124 Balance at March 31, 2017 $ 9 $ 1,175 $ 1,184 Accumulated amortization $ 421 VOBA DAC Total Balance at September 30, 2015 $ 187 $ 801 $ 988 Deferrals — 164 164 Adjustments: Unlocking 9 (1 ) 8 Interest 6 17 23 Amortization (31 ) (38 ) (69 ) Adjustment for unrealized investment losses (26 ) 82 56 Balance at March 31, 2016 $ 145 $ 1,025 $ 1,170 Accumulated amortization $ 407
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 2017 12 2018 23 2019 20 2020 17 2021 14 Thereafter 70

Debt (Tables)

Debt (Tables)	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Debt	The interest expense and amortization of debt issuance costs of the Company's debt for the three and six months ended March 31, 2017 and 2016 , respectively, were as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Interest Expense Amortization Interest Expense Amortization Interest Expense Amortization Interest Expense Amortization Debt $ 5 $ — $ 5 $ 1 $ 10 $ — $ 9 $ 2 Revolving credit facility 1 — — — 2 1 — 1 The Company's outstanding debt as of March 31, 2017 and September 30, 2016 is as follows: March 31, 2017 September 30, 2016 Debt $ 300 $ 300 Revolving credit facility 105 100

Equity (Tables)

Equity (Tables)	6 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Share Repurchase Activity	As of June 30, 2015, the share repurchase program was completed. The Company's share repurchase activity is shown in the table below. Shares Total Cost Shares purchased pursuant to the repurchase program 500 $ 11 Shares acquired to satisfy employee income tax withholding pursuant to the Company's stock compensation plan 12 — Total shares of common stock at completion of repurchase program as of June 30, 2015 512 11 Shares acquired to satisfy employee income tax withholding pursuant to the Company's stock compensation plan during the three months ended December 31, 2015 22 1 Shares acquired to satisfy employee income tax withholding pursuant to the Company's stock compensation plan during the three months ended March 31, 2016 3 — Shares acquired to satisfy employee income tax withholding pursuant to the Company's stock compensation plan during the three months ended December 31, 2016 28 1 Shares acquired to satisfy employee income tax withholding pursuant to the Company's stock compensation plan during the three months ended March 31, 2017 4 $ — Total shares of common stock repurchased as of March 31, 2017 569 $ 13
Dividends Declared	The Company declared the following cash dividends during the three and six months ended March 31, 2017 and 2016 : Date Declared Date Paid Date Shareholders of record Shareholders of record (in thousands) Cash Dividend declared (per share) Total cash paid November 12, 2015 December 14, 2015 November 30, 2015 58,144 $0.065 $4 February 2, 2016 March 7, 2016 February 22, 2016 58,210 $0.065 $4 November 10, 2016 December 12, 2016 November 28, 2016 58,245 $0.065 $4 February 2, 2017 March 6, 2017 February 21, 2017 58,308 $0.065 $4

Stock Compensation (Tables)

Stock Compensation (Tables)	6 Months Ended
	Mar. 31, 2017
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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 FGL Plans Restricted shares — — 1 1 Performance restricted stock units — 2 — 3 — 2 1 4 FGLH Plans Stock Incentive Plan - stock options 1 1 1 1 Amended and Restated Stock Incentive Plan - stock options 1 — 1 1 Amended and Restated Stock Incentive Plan - restricted stock units — — — 1 2 1 2 3 Total stock compensation expense 2 3 3 7 Related tax benefit 1 1 1 2 Net stock compensation expense $ 1 $ 2 $ 2 $ 5
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 March 31, 2017 and the weighted-average period over which this expense will be recognized are as follows: Unrecognized Compensation Weighted Average Recognition FGL Plans Stock options $ — 2 Restricted shares 2 2 Total unrecognized stock compensation expense $ 2 2
Summary of Stock Options Outstanding and Related Activity	A summary of FGLH's outstanding stock options as of March 31, 2017 , and related activity during the six months then ended, is as follows (share amount in thousands): FGLH Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2016 82 $ 44.82 Granted — — Exercised (8 ) 47.00 Forfeited or expired — — Stock options outstanding at March 31, 2017 74 44.57 Vested and exercisable at March 31, 2017 74 44.57 A summary of FGL’s outstanding stock options as of March 31, 2017 , and related activity during the six months then ended, is as follows (share amount in thousands): Stock Option Awards Options Weighted Average Exercise Price Stock options outstanding at September 30, 2016 346 $ 22.40 Granted 47 23.35 Exercised (14 ) 18.41 Forfeited or expired (13 ) 20.83 Stock options outstanding at March 31, 2017 366 22.73 Exercisable at March 31, 2017 204 21.19 Vested or projected to vest at March 31, 2017 366 22.73
Assumptions Used in Determination of Grant Date Fair Values Using Black-Scholes Option Pricing Model	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 $ 98.83 FGLH common stock fair value $ 145.18 FGL common stock fair value $ 27.80 Risk-free interest rate 1.18% - 1.22% Assumed dividend yield 1.11 % Expected option term 1.59 - 1.75 Volatility 20.00 % 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 six months ended March 31, 2017 : Weighted average fair value per options granted $2.57 Risk-free interest rate 1.11% Assumed dividend yield 1.12% Expected option term 2.0 years Volatility 20.00%
Summary of Restricted Stock and Restricted Stock Units Outstanding and Related Activity	A summary of FGL’s nonvested restricted shares outstanding as of March 31, 2017 , and related activity during the six 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, 2016 154 $ 22.91 Granted 29 23.35 Vested (89 ) 21.82 Forfeited (5 ) 22.58 Nonvested restricted shares outstanding at March 31, 2017 89 24.15
Schedule of Nonvested Performance-based Units Activity	A summary of nonvested PRSUs outstanding as of March 31, 2017 , and related activity during the period then ended, is as follows (share amount in thousands): Performance Restricted Stock Units (PRSUs) Shares Weighted Average Grant PRSUs outstanding at September 30, 2016 — $ — Granted 11 17.82 Vested (11 ) 17.82 Forfeited or expired — — PRSUs outstanding at March 31, 2017 — —

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Investment Commitments	A summary of unfunded commitments by invested asset class are included below: Asset Type March 31, 2017 Other invested assets $ 151 Equity securities, available-for-sale 33 Other assets 27 Total $ 211

Reinsurance (Tables)

Reinsurance (Tables)	6 Months Ended
	Mar. 31, 2017
Reinsurance Disclosures [Abstract]
Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes	The effect of reinsurance on premiums earned and benefits incurred and reserve changes (net benefits incurred) for the three and six months ended March 31, 2017 and 2016 were as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Net Premiums Earned Net Benefits Incurred Direct $ 59 $ 343 $ 63 $ 261 $ 116 $ 412 $ 127 $ 508 Assumed — — — 1 — — — 1 Ceded (56 ) (75 ) (47 ) (74 ) (102 ) (124 ) (96 ) (140 ) Net $ 3 $ 268 $ 16 $ 188 $ 14 $ 288 $ 31 $ 369

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The Company paid management fees to these entities for the services provided under these agreements, which are usual and customary for these types of services, as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Salus $ — $ — $ — $ — CorAmerica Capital, LLC — 1 1 1 EIC — — — — The Company’s related party investments as of March 31, 2017 and September 30, 2016 , and related net investment income for the three and six months ended March 31, 2017 and 2016 are summarized as follows: March 31, 2017 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available-for-sale $ 7 $ — $ 7 Fortress Investment Group CLOs Fixed maturities, available-for-sale 273 2 275 Spectrum Brands, Inc. Fixed maturities, available for sale 2 — 2 Salus preferred equity (a) Equity securities, available-for-sale 1 — 1 HGI energy loan (b) Related party loans 71 — 71 (a) Salus preferred equity is included in the FSRCI funds withheld portfolio, accordingly all income on this asset is ceded to FSRCI. (b) The HGI energy loan is included in the FSRCI funds withheld portfolio, accordingly the income related to this portion is ceded to FSRCI. September 30, 2016 Type Balance Sheet Classification Asset carrying value Accrued Investment Income Total carrying value Salus CLOs Fixed maturities, available for sale $ 19 $ — $ 19 Fortress Investment Group CLOs Fixed maturities, available for sale 225 2 227 Salus preferred equity(a) Equity securities, available for sale 3 — 3 Salus participations (b) Other invested assets 21 — 21 HGI energy loan (c) Related party loans 71 — 71 (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 4 different borrowers with an average loan fair value of $5 as of September 30, 2016 . (c) The 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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Type Investment Income Classification Net investment income Net investment income Net investment income Net investment income Salus CLOs Fixed maturities $ — $ 2 $ 1 $ 5 Fortress Investment Group CLOs Fixed maturities 2 2 5 4 Salus participations Other invested assets — 2 — 3 HGI energy loan Related party loans — 1 — 2 The Company’s gross realized gains and net realized impairment losses on related party investments as of March 31, 2017 and September 30, 2016 are summarized as follows: Three months ended Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Type Investment Income Classification Net realized gains (losses) Net realized gains (losses) Net realized gains (losses) Net realized gains (losses) Salus CLOs (a) Fixed maturities $ — $ (1 ) $ (1 ) $ (5 ) Salus participations (b) Other invested assets (2 ) — (1 ) (1 ) Salus preferred equity (c) Other invested assets — — (3 ) — (a) Net of impairments of $0 and $1 for the three and six months ended March 31, 2017 , respectively. Net of impairments of $1 and $5 for the three and six months ended March 31, 2016 , respectively. (b) Net of impairments of $2 and $2 for the three and six months ended March 31, 2017 , respectively. Net of impairments of $0 and $1 for the three and six months ended March 31, 2016 , respectively. (c) Net of impairments of $0 and $3 for the three and six months ended March 31, 2017 , respectively. Net of impairments of $0 and $0 for the three and six months ended March 31, 2016 , respectively. Below are the ceded operating results to FSRCI for the three and six months ended March 31, 2017 and 2016 : Three Months Ended Six Months Ended Revenues: March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Premiums $ 1 $ 1 $ 1 $ 1 Net investment income 12 15 23 32 Net investment gains (losses) 6 (8 ) 3 (7 ) Insurance and investment product fees — 1 1 2 Total revenues 19 9 28 28 Benefits and expenses: Benefits and other changes in policy reserves (14 ) (11 ) (16 ) (24 ) Acquisition & operating expenses, net of deferrals (1 ) (1 ) (2 ) (2 ) Total benefits and expenses (15 ) (12 ) (18 ) (26 ) Operating income (loss) $ 4 $ (3 ) $ 10 $ 2

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Mar. 31, 2017
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 Six months ended March 31, 2017 March 31, 2016 March 31, 2017 March 31, 2016 Net income attributable to common shares - basic $ 22 $ 9 $ 130 $ 57 Weighted-average common shares outstanding - basic 58,326 58,307 58,303 58,263 Dilutive effect of unvested restricted stock & PRSU 20 277 39 283 Dilutive effect of stock options 36 27 33 27 Weighted-average shares outstanding - diluted 58,382 58,611 58,375 58,573 Net income per common share: Basic $ 0.38 $ 0.16 $ 2.23 $ 0.98 Diluted $ 0.38 $ 0.16 $ 2.23 $ 0.98

Significant Risks and Uncerta36

Significant Risks and Uncertainties (Details) $ in Millions	6 Months Ended
	Mar. 31, 2017USD ($)issuer	Sep. 30, 2016USD ($)
Wilton Reassurance Company
Concentration Risk [Line Items]
Net amount recoverable	$ 1,540
Front Street RE (Cayman) Ltd.
Concentration Risk [Line Items]
Net amount recoverable	1,067
Banking Industry | All Financial Instruments
Concentration Risk [Line Items]
FGL's investment securities at fair value	$ 2,654	$ 2,448
Exposure of FGL's invested assets	12.00%	12.00%
FGL's investment securities at amortized cost	$ 2,583	$ 2,352
Percentage of total holdings in industry	31.00%
Number of issuers in investment | issuer	111
Banking Industry | Issuers Over 10% Holdings
Concentration Risk [Line Items]
FGL's investment securities at fair value	$ 154	$ 171
Exposure of FGL's invested assets	1.00%	1.00%

Investments - Available-for-Sa

Investments - Available-for-Sale Securities Table (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	$ 20,183	$ 19,161
Available-for-sale Securities, Gross Unrealized Gains	855	1,202
Available-for-sale Securities, Gross Unrealized Losses	(274)	(269)
Available-for-sale securities, fair value	20,764	20,094
Available-for-sale Securities, Carrying Value	20,764	20,094
Derivative Investments, Cost or Amortized Cost	218	221
Derivative Investments, Gross Unrealized Gains	139	78
Derivative Investments, Gross Unrealized Losses	(6)	(23)
Derivative Investments, Fair Value	351	276
Derivative Investments, Carrying Value	351	276
Commercial Mortgage Loans, Amortized Cost	579	595
Commercial Mortgage Loans, Gross Unrealized Gain	0	0
Commercial Mortgage Loans, Gross Unrealized Loss	0	0
Commercial Mortgage Loans, Fair Value	576	614
Total carrying value	579	595
Total Investments, Cost or Amortized Cost	21,099	20,037
Total Investments, Gross Unrealized Gains	994	1,280
Total Investments, Gross Unrealized Losses	(280)	(292)
Total Investment, Fair Value	21,806	21,042
Total Investments, Carrying Value	21,813	21,025
Asset-backed securities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	2,650	2,528
Available-for-sale Securities, Gross Unrealized Gains	33	16
Available-for-sale Securities, Gross Unrealized Losses	(14)	(45)
Available-for-sale securities, fair value	2,669	2,499
Available-for-sale Securities, Carrying Value	2,669	2,499
Commercial mortgage-backed securities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	961	850
Available-for-sale Securities, Gross Unrealized Gains	9	23
Available-for-sale Securities, Gross Unrealized Losses	(19)	(9)
Available-for-sale securities, fair value	951	864
Available-for-sale Securities, Carrying Value	951	864
Corporates
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	11,621	10,712
Available-for-sale Securities, Gross Unrealized Gains	521	760
Available-for-sale Securities, Gross Unrealized Losses	(164)	(132)
Available-for-sale securities, fair value	11,978	11,340
Available-for-sale Securities, Carrying Value	11,978	11,340
Equities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	682	640
Available-for-sale Securities, Gross Unrealized Gains	35	47
Available-for-sale Securities, Gross Unrealized Losses	(5)	(4)
Available-for-sale securities, fair value	712	683
Available-for-sale Securities, Carrying Value	712	683
Hybrids
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	1,349	1,356
Available-for-sale Securities, Gross Unrealized Gains	61	77
Available-for-sale Securities, Gross Unrealized Losses	(35)	(47)
Available-for-sale securities, fair value	1,375	1,386
Available-for-sale Securities, Carrying Value	1,375	1,386
Municipals
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	1,582	1,515
Available-for-sale Securities, Gross Unrealized Gains	119	206
Available-for-sale Securities, Gross Unrealized Losses	(21)	(4)
Available-for-sale securities, fair value	1,680	1,717
Available-for-sale Securities, Carrying Value	1,680	1,717
Residential mortgage-backed securities
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	1,253	1,327
Available-for-sale Securities, Gross Unrealized Gains	75	63
Available-for-sale Securities, Gross Unrealized Losses	(16)	(28)
Available-for-sale securities, fair value	1,312	1,362
Available-for-sale Securities, Carrying Value	1,312	1,362
U.S. Government
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	85	233
Available-for-sale Securities, Gross Unrealized Gains	2	10
Available-for-sale Securities, Gross Unrealized Losses	0	0
Available-for-sale securities, fair value	87	243
Available-for-sale Securities, Carrying Value	87	243
Other invested assets
Schedule of Investments [Line Items]
Available-for-sale Securities, Cost or Amortized Cost	119	60
Available-for-sale Securities, Gross Unrealized Gains	0	0
Available-for-sale Securities, Gross Unrealized Losses	0	0
Available-for-sale securities, fair value	115	58
Available-for-sale Securities, Carrying Value	$ 119	$ 60

Investments - Amortized Cost a

Investments - Amortized Cost and Fair Value of Fixed Maturity Available-for-Sale Securities (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	$ 5,604
Total fixed maturity available-for-sale securities, Amortized Cost	19,501	$ 18,521
Other securities which provide for periodic payments, Fair Value	5,667
Total fixed maturity available-for-sale securities, Fair Value	20,052
Corporates, Non-structured Hybrids, Municipal and U.S. Government securities:
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	342
Due after one year through five years, Amortized Cost	1,786
Due after five years through ten years, Amortized Cost	3,162
Due after ten years, Amortized Cost	8,607
Subtotal, Amortized Cost	13,897
Due in one year or less, Fair Value	346
Due after one year through five years, Fair Value	1,835
Due after five years through ten years, Fair Value	3,257
Due after ten years, Fair Value	8,947
Subtotal, Fair Value	14,385
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	2,650
Other securities which provide for periodic payments, Fair Value	2,669
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	961
Other securities which provide for periodic payments, Fair Value	951
Structured hybrids
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	740
Other securities which provide for periodic payments, Fair Value	735
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Other securities which provide for periodic payments, Amortized Cost	1,253
Other securities which provide for periodic payments, Fair Value	$ 1,312

Investments - Fair Value and G

Investments - Fair Value and Gross Unrealized Losses of Available-for-Sale Securities (Detail) $ in Millions	Mar. 31, 2017USD ($)Security	Sep. 30, 2016USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	$ 3,379	$ 1,040
Available-for-sale securities, gross unrealized losses, less than 12 months	(93)	(20)
Available-for-sale securities, fair value, 12 months of longer	2,744	3,650
Available-for-sale securities, gross unrealized losses, 12 months of longer	(181)	(249)
Fair Value	6,123	4,690
Gross Unrealized Losses	$ (274)	$ (269)
Total number of available-for-sale securities in an unrealized loss position less than twelve months | Security	494	193
Total number of available-for-sale securities in an unrealized loss position twelve months or longer | Security	437	543
Total number of available-for-sale securities in an unrealized loss position | Security	931	736
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	$ 314	$ 352
Available-for-sale securities, gross unrealized losses, less than 12 months	(2)	(4)
Available-for-sale securities, fair value, 12 months of longer	766	1,368
Available-for-sale securities, gross unrealized losses, 12 months of longer	(12)	(41)
Fair Value	1,080	1,720
Gross Unrealized Losses	(14)	(45)
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	355	44
Available-for-sale securities, gross unrealized losses, less than 12 months	(7)	(1)
Available-for-sale securities, fair value, 12 months of longer	183	182
Available-for-sale securities, gross unrealized losses, 12 months of longer	(12)	(8)
Fair Value	538	226
Gross Unrealized Losses	(19)	(9)
Corporates
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	2,004	413
Available-for-sale securities, gross unrealized losses, less than 12 months	(59)	(9)
Available-for-sale securities, fair value, 12 months of longer	1,006	1,031
Available-for-sale securities, gross unrealized losses, 12 months of longer	(105)	(123)
Fair Value	3,010	1,444
Gross Unrealized Losses	(164)	(132)
Equities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	130	51
Available-for-sale securities, gross unrealized losses, less than 12 months	(3)	(1)
Available-for-sale securities, fair value, 12 months of longer	30	75
Available-for-sale securities, gross unrealized losses, 12 months of longer	(2)	(3)
Fair Value	160	126
Gross Unrealized Losses	(5)	(4)
Hybrids
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	85	41
Available-for-sale securities, gross unrealized losses, less than 12 months	(5)	(2)
Available-for-sale securities, fair value, 12 months of longer	363	412
Available-for-sale securities, gross unrealized losses, 12 months of longer	(30)	(45)
Fair Value	448	453
Gross Unrealized Losses	(35)	(47)
Municipals
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	427	69
Available-for-sale securities, gross unrealized losses, less than 12 months	(17)	(2)
Available-for-sale securities, fair value, 12 months of longer	39	38
Available-for-sale securities, gross unrealized losses, 12 months of longer	(4)	(2)
Fair Value	466	107
Gross Unrealized Losses	(21)	(4)
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	58	70
Available-for-sale securities, gross unrealized losses, less than 12 months	0	(1)
Available-for-sale securities, fair value, 12 months of longer	357	544
Available-for-sale securities, gross unrealized losses, 12 months of longer	(16)	(27)
Fair Value	415	614
Gross Unrealized Losses	(16)	$ (28)
U.S. Government
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value, less than 12 months	6
Available-for-sale securities, gross unrealized losses, less than 12 months	0
Available-for-sale securities, fair value, 12 months of longer	0
Available-for-sale securities, gross unrealized losses, 12 months of longer	0
Fair Value	6
Gross Unrealized Losses	$ 0

Investments - Reconciliation o

Investments - Reconciliation of Other than Temporary Impairment on Fixed Maturity (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Beginning balance	$ 3	$ 3	$ 3	$ 3
Increases attributable to credit losses on securities:
OTTI was previously recognized	0	0	0	0
OTTI was not previously recognized	0	0	0	0
Ending balance	3	3	3	3
Other-than-temporary impairments	21	1	22	11
First National Bank Holding Co. [Member]
Increases attributable to credit losses on securities:
Other-than-temporary impairments	20
Asset-backed securities
Increases attributable to credit losses on securities:
Other-than-temporary impairments	0	1	1	5
Corporates
Increases attributable to credit losses on securities:
Other-than-temporary impairments	20	0	20	6
Other invested assets
Increases attributable to credit losses on securities:
Other-than-temporary impairments	$ 1	$ 0	$ 1	$ 0

Investments - Schedule of Comme

Investments - Schedule of Commercial Mortgage Loan Investment (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 580	$ 596
% of Total	100.00%	100.00%
Allowance for loan loss	$ (1)	$ (1)
Total commercial mortgage loans	579	595
East North Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 135	$ 137
% of Total	23.00%	23.00%
East South Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 20	$ 21
% of Total	4.00%	4.00%
Middle Atlantic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 86	$ 97
% of Total	15.00%	16.00%
Mountain
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 68	$ 67
% of Total	12.00%	12.00%
New England
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 14	$ 14
% of Total	2.00%	2.00%
Pacific
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 135	$ 136
% of Total	23.00%	23.00%
South Atlantic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 66	$ 67
% of Total	12.00%	11.00%
West North Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 14	$ 14
% of Total	2.00%	2.00%
West South Central
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 42	$ 43
% of Total	7.00%	7.00%
Funeral Home
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 1	$ 1
% of Total	0.00%	0.00%
Hotel
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 23	$ 23
% of Total	4.00%	4.00%
Industrial - General
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 46	$ 58
% of Total	8.00%	10.00%
Industrial - Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 65	$ 64
% of Total	11.00%	11.00%
Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 69	$ 70
% of Total	12.00%	11.00%
Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 158	$ 160
% of Total	27.00%	27.00%
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 218	$ 220
% of Total	38.00%	37.00%

Investments - Commercial Loans

Investments - Commercial Loans by LTV and DSCR (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 580	$ 596
% of Total	100.00%	100.00%
Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 576	$ 614
% of Total	100.00%	100.00%
Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 203	$ 177
% of Total	35.00%	29.00%
Less than 50% | Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 201	$ 181
% of Total	35.00%	29.00%
50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 242	$ 189
% of Total	42.00%	32.00%
50% to 60% | Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 241	$ 194
% of Total	42.00%	32.00%
60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 135	$ 230
% of Total	23.00%	39.00%
60% to 75% | Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 134	$ 239
% of Total	23.00%	39.00%
Greater than 1.25
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 538	$ 577
Greater than 1.25 | Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	184	158
Greater than 1.25 | 50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	242	189
Greater than 1.25 | 60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	112	230
1.00 - 1.25
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	7	18
1.00 - 1.25 | Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	0	18
1.00 - 1.25 | 50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	0	0
1.00 - 1.25 | 60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	7	0
Less than 1.00
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	34	0
Less than 1.00 | Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	18	0
Less than 1.00 | 50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	0	0
Less than 1.00 | 60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	16	0
N/A
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	1	1
N/A | Less than 50%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	1	1
N/A | 50% to 60%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	0	0
N/A | 60% to 75%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross balance commercial mortgage loans	$ 0	$ 0

Investments - Schedule of Loan

Investments - Schedule of Loan Aging (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Current to 30 days	$ 580	$ 596
Past due	0	0
Total carrying value	$ 580	$ 596

Investments - Net Investment I

Investments - Net Investment Income (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Schedule of Investments [Line Items]
Gross investment income	$ 253	$ 232	$ 498	$ 458
External investment expense	(6)	(5)	(11)	(9)
Net investment income	247	227	487	449
Fixed maturity securities, available-for-sale
Schedule of Investments [Line Items]
Gross investment income	236	211	464	421
Equity securities, available-for-sale
Schedule of Investments [Line Items]
Gross investment income	10	8	20	16
Commercial mortgage loans
Schedule of Investments [Line Items]
Gross investment income	6	6	12	12
Related party loans
Schedule of Investments [Line Items]
Gross investment income	0	1	0	2
Invested cash and short-term investments
Schedule of Investments [Line Items]
Gross investment income	0	2	0	2
Other investments
Schedule of Investments [Line Items]
Gross investment income	$ 1	$ 4	$ 2	$ 5

Investments - Net Investment G

Investments - Net Investment Gains (Losses) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Net realized gains (losses) on fixed maturity available-for-sale securities	$ (17)	$ 7	$ (15)	$ 2
Realized gains (losses) on equity securities	0	1	0	1
Change in fair value of other derivatives and embedded derivatives	1	(1)	1	1
Realized losses on other invested assets	(1)	(1)	(3)	(3)
Net realized (losses) gains on available-for-sale securities	(17)	6	(17)	1
Realized gains (losses) on certain derivative instruments	75	(42)	76	(54)
Unrealized gains (losses) on certain derivative instruments	34	11	72	64
Change in fair value of reinsurance related embedded derivative	(11)	(17)	1	10
Realized (losses) gains on hedging derivatives and reinsurance-related embedded derivatives	98	(48)	149	20
Total net investment gains (losses)	$ 81	$ (42)	$ 132	$ 21

Investments - Additional Infor

Investments - Additional Information (Detail) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)loan	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)loan	Mar. 31, 2016USD ($)	Sep. 30, 2016USD ($)loan
Schedule of Available-for-sale Securities [Line Items]
Fair value of non-income producing investments		$ 0			$ 0		$ 2
FHLB collateral pledged		759			759		649
Fair value on securities		71			$ 71		$ 183
Percentage of amortized cost (greater than)					20.00%		20.00%
Percentage of carrying values of all investments (less than)					0.00%		1.00%
Credit impairment losses		21		$ 1	$ 22	$ 11
Change of intent loss		0			0
Available-for-sale securities, cost or amortized cost		20,183			20,183		$ 19,161
Available-for-sale securities, fair value		$ 20,764			$ 20,764		$ 20,094
Number of loans past due | loan		0			0		0
Number of impaired loans | loan					0
Settlement			$ 18
Commitment to Invest
Schedule of Available-for-sale Securities [Line Items]
Commitment amount		$ 211			$ 211
Crescent Capital BDC Inc. | Commitment to Invest
Schedule of Available-for-sale Securities [Line Items]
Investment in business development company		42			42
Commitment amount		75			75
Golub Capital Partners 10, L.P. | Commitment to Invest
Schedule of Available-for-sale Securities [Line Items]
Investment in business development company		151			151
Commitment amount		90			90
Salus Capital Partners LLC | VIE, Not Primary Beneficiary
Schedule of Available-for-sale Securities [Line Items]
VIE, Maximum loss exposure		8			8		$ 22
Forecast
Schedule of Available-for-sale Securities [Line Items]
Settlement	$ 2
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			1		1
Unrealized losses included in AOCI related to the non-credit portion of other than-temporary impairments on non-agency residential-mortgage-backed securities		3			3		3
Available-for-sale securities, cost or amortized cost		1,253			1,253		1,327
Available-for-sale securities, fair value		1,312			1,312		1,362
Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, cost or amortized cost		170			170
Available-for-sale securities, fair value		148			148
Asset Backed Securities and Corporate Securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, cost or amortized cost				89		89
Available-for-sale securities, fair value				78		78
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Assets held by regulators		18,816			18,816		$ 18,075
Proceeds from sale, maturity and collection of investments					1,327	1,282
Available-for-sale Securities | Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sale, maturity and collection of investments		263		185	360	749
Gain on sale of investments		8		5	10	18
Loss on sale of investments		$ 2		$ 3	$ 4	$ 12
Commercial mortgage loans
Schedule of Available-for-sale Securities [Line Items]
Percent of total investments		3.00%			3.00%		3.00%
Ratio of performing loans		100.00%			100.00%		100.00%
LTV ratio threshold (less than)		75.00%			75.00%		75.00%

Derivative Financial Instrume47

Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Derivative [Line Items]
Total asset derivatives	$ 485	$ 408
Total liability derivatives	2,375	2,394
Call options | Derivative investments:
Derivative [Line Items]
Total asset derivatives	351	276
Call options | Funds withheld for reinsurance liabilities:
Derivative [Line Items]
Total liability derivatives	13	11
Other derivatives and embedded derivatives | Other invested assets
Derivative [Line Items]
Total asset derivatives	14	13
Reinsurance related embedded derivative | Other assets
Derivative [Line Items]
Total asset derivatives	120	119
FIA embedded derivative | Contractholder funds:
Derivative [Line Items]
Total liability derivatives	2,362	2,383
Not Designated as Hedging Instrument | Call options
Derivative [Line Items]
Total asset derivatives	351	276
Not Designated as Hedging Instrument | Futures contracts | Derivative investments:
Derivative [Line Items]
Total asset derivatives	$ 0	$ 0

Derivative Financial Instrume48

Derivative Financial Instruments - Schedule of Change in Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	$ (11)	$ (17)	$ 1	$ 10
Net investment gains (losses):
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	99	(49)	150	21
Call options | Net investment gains (losses):
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	105	(29)	144	7
Futures contracts | Net investment gains (losses):
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	4	(2)	4	3
Other derivatives and embedded derivatives | Net investment gains (losses):
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	1	(1)	1	1
Reinsurance related embedded derivative | Net investment gains (losses):
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	(11)	(17)	1	10
FIA embedded derivative
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	$ 112	$ 48	$ (21)	$ 99

Derivative Financial Instrume49

Derivative Financial Instruments - FGL's Exposure to Credit Loss on Call Options Held (Detail) - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2017	Sep. 30, 2016
Derivatives, Fair Value [Line Items]
Fair Value	$ 485	$ 408
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/A-
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/A1/A-
Canadian Imperial Bank of Commerce
Derivatives, Fair Value [Line Items]
Credit Rating (Moody's/S&P)	AA-/Aa3/A+
Not Designated as Hedging Instrument | Call options
Derivatives, Fair Value [Line Items]
Notional Amount	$ 10,218	9,886
Fair Value	351	276
Collateral	275	128
Net Credit Risk	76	148
Not Designated as Hedging Instrument | Call options | Merrill Lynch
Derivatives, Fair Value [Line Items]
Notional Amount	4,092	2,302
Fair Value	135	55
Collateral	100	10
Net Credit Risk	35	45
Not Designated as Hedging Instrument | Call options | Deutsche Bank
Derivatives, Fair Value [Line Items]
Notional Amount	86	1,620
Fair Value	9	46
Collateral	0	12
Net Credit Risk	9	34
Not Designated as Hedging Instrument | Call options | Morgan Stanley
Derivatives, Fair Value [Line Items]
Notional Amount	2,125	2,952
Fair Value	81	87
Collateral	90	58
Net Credit Risk	(9)	29
Not Designated as Hedging Instrument | Call options | Barclay's Bank
Derivatives, Fair Value [Line Items]
Notional Amount	1,436	1,389
Fair Value	48	39
Collateral	7	0
Net Credit Risk	41	39
Not Designated as Hedging Instrument | Call options | Canadian Imperial Bank of Commerce
Derivatives, Fair Value [Line Items]
Notional Amount	2,479	1,623
Fair Value	78	49
Collateral	78	48
Net Credit Risk	$ 0	$ 1

Derivative Financial Instrume50

Derivative Financial Instruments - Additional Information (Details)	3 Months Ended		6 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)contract	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)loancontract	Mar. 31, 2016USD ($)	Jun. 30, 2016loan	Sep. 30, 2016USD ($)loancontract	Sep. 30, 2015USD ($)loan	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 16, 2014USD ($)
Derivative [Line Items]
Asset value	$ 1,431,000,000	$ 1,369,000,000	$ 1,431,000,000	$ 1,369,000,000		$ 1,450,000,000	$ 1,325,000,000	$ 1,427,000,000	$ 1,334,000,000
Number of participating loans | loan			1			1	4
Number of loans settled | loan					3
Gain (loss) on reinsurance related embedded derivative	(11,000,000)	(17,000,000)	$ 1,000,000	10,000,000
Number of participating loans without reimbursement provisions | loan			2
Participating loans denominated in CAD, reimbursement provision excluded, number of loans repaid | loan						1
Maximum exposure	76,000,000		$ 76,000,000			$ 148,000,000
Salus Participations
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative			0			0
Net investment gains (losses):
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	99,000,000	(49,000,000)	150,000,000	21,000,000
Net investment gains (losses): | Salus Participations
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	0	(2,000,000)	0	0
Other derivatives and embedded derivatives | Net investment gains (losses):
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	1,000,000	(1,000,000)	1,000,000	1,000,000
Other derivatives and embedded derivatives | Other invested assets | Net investment gains (losses):
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	0		0
Forwards
Derivative [Line Items]
Asset value	0		0
Gain (loss) on reinsurance related embedded derivative	$ 0		$ 0
Number of instruments held | contract	1		1
Call options | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	$ 10,218,000,000		$ 10,218,000,000			9,886,000,000
Collateral posted	275,000,000		275,000,000			128,000,000
Call options | Merrill Lynch | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	4,092,000,000		4,092,000,000			2,302,000,000
Collateral posted	100,000,000		100,000,000			10,000,000
Call options | Net investment gains (losses):
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	105,000,000	(29,000,000)	144,000,000	7,000,000
Call options | Cash and Cash Equivalents | Not Designated as Hedging Instrument
Derivative [Line Items]
Collateral posted	$ 175,000,000		$ 175,000,000			$ 118,000,000
Futures contracts
Derivative [Line Items]
Number of instruments held | contract	394		394			559
Collateral held	$ 2,000,000		$ 2,000,000			$ 3,000,000
Futures contracts | Net investment gains (losses):
Derivative [Line Items]
Gain (loss) on reinsurance related embedded derivative	4,000,000	(2,000,000)	4,000,000	3,000,000
Other invested assets
Derivative [Line Items]
Fund purchased										$ 35,000,000
Asset value	24,000,000		24,000,000
Other invested assets | Other derivatives and embedded derivatives
Derivative [Line Items]
Notional Amount										$ 11,000,000
Available-for-sale embedded derivative
Derivative [Line Items]
Asset value	$ 14,000,000	$ 11,000,000	$ 14,000,000	$ 11,000,000		$ 13,000,000	$ 10,000,000	$ 13,000,000	$ 11,000,000

Fair Value of Financial Instr51

Fair Value of Financial Instruments - Assets and Liabilities Carrying at Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	$ 20,764	$ 20,094
Derivative investments	351	276
Total financial assets at fair value	1,431	1,450
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	887	864
Equity securities, available-for-sale	14	22
Derivative investments	0	0
Other invested assets	0	0
Total financial assets at fair value	955	947
Total financial liabilities at fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity securities, available-for-sale	654	617
Derivative investments	351	276
Other invested assets	0	0
Total financial assets at fair value	19,707	18,949
Total financial liabilities at fair value	13	11
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	1	3
Derivative investments	0	0
Other invested assets	14	34
Total financial assets at fair value	1,431	1,450
Total financial liabilities at fair value	2,362	2,383
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	887	864
Equity securities, available-for-sale	669	642
Derivative investments	351	276
Other invested assets	14	34
Total financial assets at fair value	22,093	21,346
Total financial liabilities at fair value	2,375	2,394
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	887	864
Equity securities, available-for-sale	669	642
Derivative investments	351	276
Other invested assets	14	34
Total financial assets at fair value	22,093	21,346
Total financial liabilities at fair value	2,375	2,394
Reinsurance related embedded derivative | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	0	0
Reinsurance related embedded derivative | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	120	119
Reinsurance related embedded derivative | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	0	0
Reinsurance related embedded derivative | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	120	119
Reinsurance related embedded derivative | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative investments	120	119
FIA embedded derivatives, included in contractholder funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	0
FIA embedded derivatives, included in contractholder funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	0	0
FIA embedded derivatives, included in contractholder funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,362	2,383
FIA embedded derivatives, included in contractholder funds | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,362	2,383
FIA embedded derivatives, included in contractholder funds | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FIA embedded derivatives, included in contractholder funds	2,362	2,383
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	13	11
Call options | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities	0	0
Call options | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call options payable for FSRCI, included in funds withheld for reinsurance liabilities	13	11
Call options | Carrying Amount
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	13	11
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	2,669	2,499
Asset-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	0	0
Asset-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	2,485	2,327
Asset-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	184	172
Asset-backed securities | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	2,669	2,499
Asset-backed securities | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	2,669	2,499
Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	951	864
Commercial mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	0	0
Commercial mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	873	785
Commercial mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	78	79
Commercial mortgage-backed securities | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	951	864
Commercial mortgage-backed securities | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	951	864
Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	11,978	11,340
Corporates | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	0	0
Corporates | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	10,872	10,219
Corporates | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,106	1,121
Corporates | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	11,978	11,340
Corporates | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	11,978	11,340
Hybrids
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,375	1,386
Hybrids | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	0	0
Hybrids | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,365	1,386
Hybrids | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	10	0
Hybrids | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,375	1,386
Hybrids | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,375	1,386
Municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,680	1,717
Municipals | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	0	0
Municipals | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,642	1,676
Municipals | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	38	41
Municipals | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,680	1,717
Municipals | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,680	1,717
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,312	1,362
Residential mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	0	0
Residential mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,312	1,362
Residential mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	0	0
Residential mortgage-backed securities | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,312	1,362
Residential mortgage-backed securities | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	1,312	1,362
U.S. Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	87	243
U.S. Government | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	54	61
U.S. Government | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	33	182
U.S. Government | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	0	0
U.S. Government | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	87	243
U.S. Government | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale:	$ 87	$ 243

Fair Value of Financial Instr52

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	6 Months Ended	12 Months Ended
	Mar. 31, 2017	Sep. 30, 2016
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 1,431	$ 1,450
Total financial liabilities at fair value	2,362	2,383
Market Approach Valuation Technique | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 178	$ 144
Market Approach Valuation Technique | Asset-backed securities | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	88.00%	97.54%
Market Approach Valuation Technique | Asset-backed securities | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	100.48%	101.55%
Market Approach Valuation Technique | Asset-backed securities | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	98.98%	99.66%
Market Approach Valuation Technique | Asset-backed securities | Salus Capital Partners LLC
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 6	$ 19
Brokered quotes	11.87%	28.37%
Discount rate	15.00%	15.00%
RSH recovery		5.50%
Market Approach Valuation Technique | Asset-backed securities | Salus Capital Partners LLC | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Other loan recoveries	0.00%	0.00%
Market Approach Valuation Technique | Asset-backed securities | Salus Capital Partners LLC | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Other loan recoveries	100.00%	100.00%
Market Approach Valuation Technique | Commercial mortgage-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 74	$ 75
Market Approach Valuation Technique | Commercial mortgage-backed securities | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	107.16%	104.31%
Market Approach Valuation Technique | Commercial mortgage-backed securities | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	122.00%	122.19%
Market Approach Valuation Technique | Commercial mortgage-backed securities | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	113.18%	114.10%
Market Approach Valuation Technique | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 862	$ 920
Market Approach Valuation Technique | Corporates | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	59.00%	50.00%
Market Approach Valuation Technique | Corporates | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	112.00%	118.33%
Market Approach Valuation Technique | Corporates | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	99.94%	103.37%
Market Approach Valuation Technique | Hybrids
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 10
Market Approach Valuation Technique | Hybrids | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix pricing	96.10%
Market Approach Valuation Technique | Hybrids | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix pricing	96.10%
Market Approach Valuation Technique | Hybrids | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix pricing	96.10%
Market Approach Valuation Technique | Municipals
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 38	$ 41
Market Approach Valuation Technique | Municipals | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	110.89%	119.04%
Market Approach Valuation Technique | Municipals | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	110.89%	119.04%
Market Approach Valuation Technique | Municipals | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes	110.89%	119.04%
Market Approach Valuation Technique | Equities | Salus Capital Partners LLC
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value		$ 3
Market Approach Valuation Technique | Other invested assets | Loan participations - Other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value		$ 2
Brokered quotes		100.00%
Market Approach Valuation Technique | Other invested assets | Loan participation - JSN Jewellery, Inc.
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value		$ 17
RSH recovery		52.50%
Market Approach Valuation Technique | Other invested assets | Loan participation - RadioShack (RSH) Corporation
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value		$ 2
RSH recovery		5.00%
Market Approach Valuation Technique | Other invested assets | Minimum | Loan participation - JSN Jewellery, Inc.
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
RSH recovery		49.93%
Market Approach Valuation Technique | Other invested assets | Minimum | Loan participation - RadioShack (RSH) Corporation
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
RSH recovery		1.36%
Market Approach Valuation Technique | Other invested assets | Maximum | Loan participation - JSN Jewellery, Inc.
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
RSH recovery		56.67%
Market Approach Valuation Technique | Other invested assets | Maximum | Loan participation - RadioShack (RSH) Corporation
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
RSH recovery		14.28%
Market Approach Valuation Technique | Other invested assets | Weighted Average | Loan participation - JSN Jewellery, Inc.
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
RSH recovery		52.50%
Income Approach Valuation Technique | FIA embedded derivatives, included in contractholder funds
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial liabilities at fair value	$ 2,362	$ 2,383
Income Approach Valuation Technique | FIA embedded derivatives, included in contractholder funds | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market value of option	0.00%	0.00%
Swap rate	2.05%	1.18%
Mortality multiplier	80.00%	80.00%
Surrender rates	0.50%	0.50%
Non-performance spread	0.25%	0.25%
Future option budget	1.13%	1.15%
Income Approach Valuation Technique | FIA embedded derivatives, included in contractholder funds | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market value of option	24.11%	26.64%
Swap rate	2.38%	1.46%
Mortality multiplier	80.00%	80.00%
Surrender rates	75.00%	75.00%
Non-performance spread	0.25%	0.25%
Future option budget	5.57%	5.57%
Income Approach Valuation Technique | FIA embedded derivatives, included in contractholder funds | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market value of option	3.17%	2.55%
Swap rate	2.22%	1.31%
Mortality multiplier	80.00%	80.00%
Surrender rates	9.60%	9.59%
Non-performance spread	0.25%	0.25%
Future option budget	2.90%	2.91%
Income Approach Valuation Technique | Asset-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value		$ 9
Matrix pricing		98.75%
Income Approach Valuation Technique | Commercial mortgage-backed securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 4	$ 4
Income Approach Valuation Technique | Commercial mortgage-backed securities | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes		98.41%
Matrix pricing	100.44%
Income Approach Valuation Technique | Commercial mortgage-backed securities | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes		98.41%
Matrix pricing	100.44%
Income Approach Valuation Technique | Commercial mortgage-backed securities | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Brokered quotes		98.41%
Matrix pricing	100.44%
Income Approach Valuation Technique | Corporates
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 244	$ 201
Income Approach Valuation Technique | Corporates | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix pricing	93.56%	99.00%
Income Approach Valuation Technique | Corporates | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix pricing	116.52%	150.23%
Income Approach Valuation Technique | Corporates | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Matrix pricing	102.54%	119.04%
Income Approach Valuation Technique | Equities | Salus Capital Partners LLC
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 1
Discount rate		15.00%
Yield		11.00%
RSH recovery		5.50%
CLO equity percentage	11.87%	28.37%
Income Approach Valuation Technique | Equities | Salus Capital Partners LLC | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	7.00%
Yield	0.70%
Income Approach Valuation Technique | Equities | Salus Capital Partners LLC | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	9.00%
Yield	3.10%
Income Approach Valuation Technique | Other invested assets
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 14	$ 13
Black Scholes model	100.00%	100.00%
Market Value
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 22,093	$ 21,346
Par Value
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total financial assets at fair value	$ 22,093	$ 21,346

Fair Value of Financial Instr53

Fair Value of Financial Instruments - Changes to Fair Value of Financial Instruments Level 3 (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	$ 1,427	$ 1,334	$ 1,450	$ 1,325
Total gains (losses) included in earnings	0	(1)	(5)	(7)
Total gains (losses) included in AOCI	8	31	(39)	18
Purchases	60	54	192	138
Sales	0	0	(5)	0
Settlements	(47)	(27)	(117)	(87)
Net transfer in (out) of level 3	(17)	(22)	(45)	(18)
Balance at End of Period	1,431	1,369	1,431	1,369
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	2,250	2,200	2,383	2,149
Total gains (losses) included in earnings	112	48	(21)	99
Total gains (losses) included in AOCI	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Net transfer in (out) of level 3	0	0	0	0
Balance at End of Period	2,362	2,248	2,362	2,248
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	2,250	2,200	2,383	2,149
Total gains (losses) included in earnings	112	48	(21)	99
Total gains (losses) included in AOCI	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Net transfer in (out) of level 3	0	0	0	0
Balance at End of Period	2,362	2,248	2,362	2,248
Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	197	79	172	38
Total gains (losses) included in earnings	0	(1)	(1)	(5)
Total gains (losses) included in AOCI	1	0	0	0
Purchases	0	19	63	41
Sales	0	0	0	0
Settlements	(9)	0	(16)	0
Net transfer in (out) of level 3	(5)	(22)	(34)	1
Balance at End of Period	184	75	184	75
Commercial mortgage-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	85	139	79	144
Total gains (losses) included in earnings	0	0	0	0
Total gains (losses) included in AOCI	1	1	(1)	1
Purchases	0	0	8	0
Sales	0	0	0	0
Settlements	0	(1)	0	(2)
Net transfer in (out) of level 3	(8)	0	(8)	(4)
Balance at End of Period	78	139	78	139
Corporates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	1,078	972	1,121	964
Total gains (losses) included in earnings	0	0	(1)	0
Total gains (losses) included in AOCI	5	26	(36)	13
Purchases	60	19	111	63
Sales	0	0	(5)	0
Settlements	(33)	(11)	(81)	(19)
Net transfer in (out) of level 3	(4)	0	(3)	(15)
Balance at End of Period	1,106	1,006	1,106	1,006
Hybrids
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	10		0
Total gains (losses) included in earnings	0		0
Total gains (losses) included in AOCI	0		0
Purchases	0		10
Sales	0		0
Settlements	0		0
Net transfer in (out) of level 3	0		0
Balance at End of Period	10		10
Municipals
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	37	38	41	39
Total gains (losses) included in earnings	0	0	0	0
Total gains (losses) included in AOCI	1	1	(2)	0
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	(1)	0
Net transfer in (out) of level 3	0	0	0	0
Balance at End of Period	38	39	38	39
Equities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	1	11	3	11
Total gains (losses) included in earnings	0	0	(2)	0
Total gains (losses) included in AOCI	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Net transfer in (out) of level 3	0	0	0	0
Balance at End of Period	1	11	1	11
Available-for-sale embedded derivative
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	13	11	13	10
Total gains (losses) included in earnings	1	0	1	1
Total gains (losses) included in AOCI	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Net transfer in (out) of level 3	0	0	0	0
Balance at End of Period	14	11	14	11
Loan participations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at Beginning of Period	6	84	21	119
Total gains (losses) included in earnings	(1)	0	(2)	(3)
Total gains (losses) included in AOCI	0	3	0	4
Purchases	0	16	0	34
Sales	0	0	0	0
Settlements	(5)	(15)	(19)	(66)
Net transfer in (out) of level 3	0	0	0	0
Balance at End of Period	$ 0	$ 88	$ 0	$ 88

Fair Value of Financial Instr54

Fair Value of Financial Instruments - Changes in Assets and Liabilities Recorded at Other Than Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial mortgage loans	$ 576	$ 614
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
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
Related party loans	0	0
Total	0	0
Investment contracts, included in contractholder funds	0	0
Debt	301	300
Total	301	300
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial mortgage loans	576	614
Policy loans, included in other invested assets	11	13
Related party loans	71	71
Total	658	698
Investment contracts, included in contractholder funds	15,759	14,884
Debt	105	100
Total	15,864	14,984
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial mortgage loans	576	614
Policy loans, included in other invested assets	11	13
Related party loans	71	71
Total	658	698
Investment contracts, included in contractholder funds	15,759	14,884
Debt	406	400
Total	16,165	15,284
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial mortgage loans	579	595
Policy loans, included in other invested assets	15	14
Related party loans	71	71
Total	665	680
Investment contracts, included in contractholder funds	17,690	16,868
Debt	405	400
Total	$ 18,095	$ 17,268

Fair Value of Financial Instr55

Fair Value of Financial Instruments - NAV (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Limited partnership investment, included in other invested assets
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments measured using net asset value	$ 90	$ 12
Equities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments measured using net asset value	$ 43	$ 41

Fair Value of Financial Instr56

Fair Value of Financial Instruments - Narrative (Detail)	3 Months Ended		6 Months Ended
	Mar. 31, 2017USD ($)$ / Contract	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)$ / Contract	Mar. 31, 2016USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Transfers, assets, from level 1 and 2	$ 0	$ 0	$ 0	$ 0
Transfers, assets, from level 2 and 1	0	0	0	0
Transfers, liabilities, from level 1 and 2	0	0	0	0
Transfers, liabilities, from level 2 and 1	0	0	0	0
Transfer into level 3	50,000,000	0	94,000,000	1,000,000
Transfer out of level 3	$ 67,000,000	$ 22,000,000	$ 139,000,000	$ 19,000,000
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		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	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
VOBA
VOBA - beginning of period	$ 19	$ 187
Deferrals	0	0
Unlocking	10	9
Interest	5	6
Amortization	(40)	(31)
Adjustment for unrealized investment losses (gains)	15
Adjustment for unrealized investment losses		(26)
VOBA - end of period	9	145
DAC
DAC - beginning of period	1,007	801
Deferrals	190	164
Unlocking	(7)	(1)
Interest	23	17
Amortization	(147)	(38)
Adjustment for unrealized investment gains (losses)	109	82
DAC - end of period	1,175	1,025
Total
VOBA and DAC - beginning of period	1,026	988
Deferrals	190	164
Unlocking	3	8
Interest	28	23
Amortization	(187)	(69)
Adjustment for unrealized investment gains (losses)	124	56
VOBA and DAC - end of period	1,184	1,170
Accumulated amortization	$ 421	$ 407

Intangible Assets - Estimated A

Intangible Assets - Estimated Amortization Expense for VOBA in Future Fiscal Periods (Detail) - VOBA $ in Millions	Mar. 31, 2017USD ($)
Schedule Of Amortization Expense And Weighted Average Lives Of Identified Intangible Assets [Line Items]
2,017	$ 12
2,018	23
2,019	20
2,020	17
2,021	14
Thereafter	$ 70

Intangible Assets - Narrative (

Intangible Assets - Narrative (Detail) - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2017	Sep. 30, 2016
VOBA
Finite-Lived Intangible Assets [Line Items]
Cumulative adjustments for net unrealized investment gains	$ (147)	$ (162)
DAC
Finite-Lived Intangible Assets [Line Items]
Cumulative adjustments for net unrealized investment gains		(96)
Cumulative adjustments for net unrealized investment loss	13
Deferred sales inducements, net of shadow adjustments	$ 92	$ 86
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	5 years 2 months 12 days

Debt - Schedule of Long Term De

Debt - Schedule of Long Term Debt (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Line of Credit Facility [Line Items]
Debt	$ 300		$ 300		$ 300
Revolving credit facility	105		105		100
Interest Expense	5	$ 5	10	$ 9
Amortization	0	1	0	2
Revolving credit facility
Line of Credit Facility [Line Items]
Revolving credit facility	105		105		$ 100
Interest Expense	1	0	2	0
Amortization	$ 0	$ 0	$ 1	$ 1

Debt - Narrative (Detail)

Debt - Narrative (Detail) - USD ($)	Mar. 31, 2017	Sep. 30, 2016
Debt Instrument [Line Items]
Revolving credit facility	$ 105,000,000	$ 100,000,000
Debt	300,000,000	300,000,000
Revolving credit facility
Debt Instrument [Line Items]
Revolving credit facility	$ 105,000,000	$ 100,000,000
Interest rate at end of period	4.02%	5.50%
Additional draw	$ 5,000,000
Interest rate	3.98%
Remaining borrowing capacity	$ 45,000,000	$ 50,000,000

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions

May 01, 2017

Mar. 06, 2017

Feb. 02, 2017

Dec. 12, 2016

Nov. 10, 2016

Mar. 07, 2016

Feb. 02, 2016

Dec. 14, 2015

Nov. 12, 2015

Mar. 31, 2017

Feb. 21, 2017

Nov. 28, 2016

Sep. 30, 2016

Feb. 22, 2016

Nov. 30, 2015

Sep. 02, 2014

Class of Stock [Line Items]

Common stock, shares outstanding (shares)

58,991,806

58,308,000

58,245,000

58,956,127

58,210,000

58,144,000

Shares outstanding (in shares)

47,000,000

Cash dividend declared (in dollars per share)

$ 0.065

$ 0.065

$ 0.065

$ 0.065

Total cash paid

$ 4

$ 4

$ 4

$ 4

HRG

Class of Stock [Line Items]

Ownership of FGL by parent

80.00%

September 2014 Repurchase Plan

Class of Stock [Line Items]

Number of shares authorized to be repurchased (in shares) (up to)

500,000

Subsequent Event [Member]

Class of Stock [Line Items]

Cash dividend declared (in dollars per share)

$ 0.065

Equity - Treasury Share Repurch

Equity - Treasury Share Repurchase (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended				6 Months Ended	9 Months Ended	31 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2017	Jun. 30, 2015	Mar. 31, 2017
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)						512	569
Total Cost					$ 1
September 2014 Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)						500
Stock Compensation Plan
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)	4	28	3	22		12
Total Cost						$ 0
Treasury Stock
Equity, Class of Treasury Stock [Line Items]
Total Cost					$ 1	11	$ 13
Treasury Stock | September 2014 Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Total Cost						$ 11
Treasury Stock | Stock Compensation Plan
Equity, Class of Treasury Stock [Line Items]
Total Cost	$ 0	$ 1	$ 0	$ 1

Equity - Schedule of Dividends

Equity - Schedule of Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 06, 2017	Feb. 02, 2017	Dec. 12, 2016	Nov. 10, 2016	Mar. 07, 2016	Feb. 02, 2016	Dec. 14, 2015	Nov. 12, 2015	Mar. 31, 2017	Feb. 21, 2017	Nov. 28, 2016	Sep. 30, 2016	Feb. 22, 2016	Nov. 30, 2015
Equity [Abstract]
Common stock, shares outstanding (in shares)									58,991,806	58,308,000	58,245,000	58,956,127	58,210,000	58,144,000
Cash dividend per common share (in dollars per share)		$ 0.065		$ 0.065		$ 0.065		$ 0.065
Total cash paid	$ 4		$ 4		$ 4		$ 4

Stock Compensation - Schedule o

Stock Compensation - Schedule of Stock Based Compensation Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	$ 2	$ 3	$ 3	$ 7
Related tax benefit	1	1	1	2
Net stock compensation expense	1	2	2	5
FGL Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	2	1	4
FGL Plans | Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	0	1	1
FGL Plans | Performance restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	2	0	3
Stock Incentive Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	1	1	1	1
Stock Incentive Plan, Amended and Restated | Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	0	0	0	1
Stock Incentive Plan, Amended and Restated | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	1	0	1	1
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	$ 2	$ 1	$ 2	$ 3

Stock Compensation - Summary of

Stock Compensation - Summary of Unrecognized Stock Compensation Expense (Details) $ in Millions	6 Months Ended
	Mar. 31, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 2
Weighted Average Recognition Period in Years	2 years
FGL Plans | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 0
Weighted Average Recognition Period in Years	2 years
FGL Plans | Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 2
Weighted Average Recognition Period in Years	2 years

Stock Compensation - Summary 67

Stock Compensation - Summary of Stock Options Outstanding and Related Activity (Detail) - Stock Option Awards shares in Thousands	6 Months Ended
	Mar. 31, 2017$ / sharesshares
FGL Plans
Options
Stock options outstanding at beginning of period (in shares) | shares	346
Granted (in shares) | shares	47
Exercised (in shares) | shares	(14)
Forfeited or expired (in shares) | shares	(13)
Stock options outstanding at end of period (in shares) | shares	366
Vested and exercisable at end of period (in shares) | shares	204
Vested or expected to vest at end of period (in shares) | shares	366
Weighted Average Exercise Price
Stock options outstanding at beginning of period (in dollars per share) | $ / shares	$ 22.40
Granted (in dollars per share) | $ / shares	23.35
Exercised (in dollars per share) | $ / shares	18.41
Forfeited or expired (in dollars per share) | $ / shares	20.83
Stock options outstanding at end of period (in dollars per share) | $ / shares	22.73
Vested and exercisable at end of period (in dollars per share) | $ / shares	21.19
Vested or expected to vest at end of period (in dollars per share) | $ / shares	$ 22.73
FGLH Plan
Options
Stock options outstanding at beginning of period (in shares) | shares	82
Granted (in shares) | shares	0
Exercised (in shares) | shares	(8)
Forfeited or expired (in shares) | shares	0
Stock options outstanding at end of period (in shares) | shares	74
Vested and exercisable at end of period (in shares) | shares	74
Weighted Average Exercise Price
Stock options outstanding at beginning of period (in dollars per share) | $ / shares	$ 44.82
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	47
Forfeited or expired (in dollars per share) | $ / shares	0
Stock options outstanding at end of period (in dollars per share) | $ / shares	44.57
Vested and exercisable at end of period (in dollars per share) | $ / shares	$ 44.57

Stock Compensation - Assumption

Stock Compensation - Assumptions Used in Determination of Grant Date Fair Values Using Black-Scholes Option Pricing Model (Detail)	6 Months Ended
	Mar. 31, 2017$ / shares
FGL Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per options granted (in dollars per share)	$ 2.57
Risk-free interest rate	1.11%
Assumed dividend yield	1.12%
Expected option term	2 years
Volatility	20.00%
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per options granted (in dollars per share)	$ 98.83
Share price (in dollars per share)	$ 27.80
Assumed dividend yield	1.11%
Volatility	20.00%
FGLH Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.18%
Expected option term	1 year 7 months 2 days
FGLH Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.22%
Expected option term	1 year 9 months
FGLH Plan | FGL
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)	$ 145.18

Stock Compensation - Summary 69

Stock Compensation - Summary of Restricted Stock and Restricted Stock Units Outstanding and Related Activity (Detail) - FGL Plans - $ / shares shares in Thousands	6 Months Ended	12 Months Ended
	Mar. 31, 2017	Sep. 30, 2016
Restricted shares
Shares
Restricted shares outstanding at beginning of period (in shares)	154
Granted (in shares)	29
Vested (in shares)	(89)
Forfeited (in shares)	(5)
Restricted shares outstanding at end of period (in shares)	89	154
Weighted Average Grant Date Fair Value
Average grant date fair value outstanding at beginning of period (in dollars per share)	$ 22.91
Granted (in dollars per share)	23.35
Vested (in dollars per share)	21.82
Forfeited or expired (in dollars per share)	22.58
Average grant date fair value outstanding at end of period (in dollars per share)	$ 24.15	$ 22.91
Performance restricted stock units
Shares
Restricted shares outstanding at beginning of period (in shares)	0
Granted (in shares)	11
Vested (in shares)	(11)	(634)
Forfeited (in shares)	0
Restricted shares outstanding at end of period (in shares)	0	0
Weighted Average Grant Date Fair Value
Average grant date fair value outstanding at beginning of period (in dollars per share)	$ 0
Granted (in dollars per share)	17.82
Vested (in dollars per share)	17.82
Forfeited or expired (in dollars per share)	0
Average grant date fair value outstanding at end of period (in dollars per share)	$ 0	$ 0

Stock Compensation - Narrative

Stock Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Nov. 30, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit from share-based compensation expense		$ 1	$ 1	$ 1	$ 2
FGL Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (shares) (up to)		2,838,000		2,838,000
Awards available to grant (shares)		1,090,000		1,090,000
FGL Plans | Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)				47,000
Options outstanding intrinsic value		$ 2		$ 2
Options exercisable intrinsic value		1		1
Options vested and expected to vest intrinsic value		$ 2		$ 2
Options outstanding weighted average remaining contractual term				5 years
Options exercisable weighted average remaining contractual term				4 years
Options vested and expected to vest weighted average remaining contractual term				5 years
Options exercises in period intrinsic value				$ 0	0
Cash received from exercise of stock options				0	2
Tax benefit from share-based compensation expense				$ 0	$ 0
FGL Plans | 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)				47,000	119,000
Award vesting period				3 years
Expiration period				7 years
Fair value at grant date of options				$ 0	$ 0
FGL Plans | Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants (in shares)				29,000
Fair value at grant date of instruments other than options (less than $1)				$ 1	$ 1
Vested (in shares)				89,000
FGL Plans | Restricted shares | 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)				29,000	26,000
FGL Plans | Performance restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit grants (in shares)				11,000
Vested (in shares)				11,000		634,000
Total cash payment for settlement of awards	$ 15
Share price (in dollars per share)						$ 23.30
FGL Plans | Performance restricted stock units | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value at grant date of options						$ 0
FGL Plans | Performance restricted stock units | Officer | Annual Performance Result
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rates, percent							50.00%	33.333%
FGL Plans | Performance restricted stock units | Officer | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rates, percent				0.00%
FGL Plans | Performance restricted stock units | Officer | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rates, percent				200.00%
FGLH Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)		$ 27.80		$ 27.80
Discount for lack of liquidity				7.50%		5.00%
Payments for restricted stock units				$ 0	$ 2
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		$ 7		$ 7
Options exercisable intrinsic value		7		7
Options vested and expected to vest intrinsic value		$ 7		$ 7
Options outstanding weighted average remaining contractual term				2 years
Options exercisable weighted average remaining contractual term				2 years
Options vested and expected to vest weighted average remaining contractual term				2 years
Options exercises in period intrinsic value				$ 1	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Tax rate	37.00%	40.00%	34.00%	35.00%
Valuation allowance	$ (52)		$ (52)
Deferred gross tax assets	$ 139		$ 139

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Investment Commitments (Details) - Commitment to Invest $ in Millions	Mar. 31, 2017USD ($)
Other Commitments [Line Items]
Total	$ 211
Other invested assets
Other Commitments [Line Items]
Total	151
Equities
Other Commitments [Line Items]
Total	33
Other assets
Other Commitments [Line Items]
Total	$ 27

Commitments and Contingencies73

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Aug. 10, 2015	Jan. 07, 2015	Mar. 31, 2017	Sep. 30, 2016
Loss Contingencies [Line Items]
Accrued amount of guaranty fund assessments			$ 2
Estimated future premium tax deductions			2
Cressy v. FGL et. al
Loss Contingencies [Line Items]
Settlement payments	$ 1		3
Estimated litigation liability			1
Legal fees			6
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				$ 2
Plaintiff damage claims		$ 0

Reinsurance - Effect of Reinsur

Reinsurance - Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Net Premiums Earned
Direct	$ 59	$ 63	$ 116	$ 127
Assumed	0	0	0	0
Ceded	(56)	(47)	(102)	(96)
Net	3	16	14	31
Net Benefits Incurred
Direct	343	261	412	508
Assumed	0	1	0	1
Ceded	(75)	(74)	(124)	(140)
Net	$ 268	$ 188	$ 288	$ 369

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details)	Jan. 02, 2017USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)policy	Mar. 31, 2016USD ($)
Reinsurance Disclosures [Abstract]
Write-off of reinsurance		$ 0	$ 0	$ 0	$ 0
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Ceded reinsurance commuted		56,000,000	47,000,000	$ 102,000,000	96,000,000
Favorable impact to statutory surplus	$ 185,000,000
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	$ 0	$ 0
Ceded under agreement	70.00%

Related Party Transactions - Na

Related Party Transactions - Narrative (Details)	Jun. 13, 2016USD ($)	Jan. 31, 2014USD ($)	Mar. 31, 2017USD ($)loan	Mar. 31, 2016USD ($)loan	Mar. 31, 2017USD ($)loan	Mar. 31, 2016USD ($)loan	May 01, 2017	Sep. 30, 2016USD ($)	Aug. 31, 2016USD ($)	Jul. 31, 2016	Oct. 31, 2015	Feb. 27, 2015USD ($)
Related Party Transaction [Line Items]
Reinsurance recoverable			$ 3,426,000,000		$ 3,426,000,000			$ 3,464,000,000
Funds withheld for reinsurance liabilities			1,134,000,000		1,134,000,000			1,172,000,000
Gain (loss) on reinsurance related embedded derivative			(11,000,000)	$ (17,000,000)	1,000,000	$ 10,000,000
Realized gain			(1,000,000)	(1,000,000)	(3,000,000)	(3,000,000)
Other-than-temporary impairments			21,000,000	1,000,000	22,000,000	11,000,000
Net investment gains (losses):
Related Party Transaction [Line Items]
Gain (loss) on reinsurance related embedded derivative			99,000,000	(49,000,000)	150,000,000	21,000,000
Foreign Exchange Contracts | Net investment gains (losses): | Other invested assets
Related Party Transaction [Line Items]
Loss on derivative			(1,000,000)	(1,000,000)	(2,000,000)	(3,000,000)
Other derivatives and embedded derivatives | Net investment gains (losses):
Related Party Transaction [Line Items]
Gain (loss) on reinsurance related embedded derivative			1,000,000	(1,000,000)	1,000,000	1,000,000
Other derivatives and embedded derivatives | Net investment gains (losses): | Other invested assets
Related Party Transaction [Line Items]
Loss on derivative				(2,000,000)		0
Gain (loss) on reinsurance related embedded derivative			0		0
Salus preferred equity
Related Party Transaction [Line Items]
Dividend rate on preferred stock		10.00%
Asset par value		$ 30,000,000
Salus preferred equity | Other invested assets
Related Party Transaction [Line Items]
Realized gain			0	0	(3,000,000)	0
Other-than-temporary impairments			0	0	3,000,000	0
Salus CLOs | Available-for-sale Securities
Related Party Transaction [Line Items]
Realized gain			0	(1,000,000)	(1,000,000)	(5,000,000)
Other-than-temporary impairments			0	1,000,000	1,000,000	5,000,000
Front Street RE (Cayman) Ltd.
Related Party Transaction [Line Items]
Reinsurance recoverable			1,067,000,000		1,067,000,000			1,120,000,000
Funds withheld for reinsurance liabilities			1,132,000,000		1,132,000,000			$ 1,172,000,000
Expenses from transactions with related party			$ 15,000,000	$ 12,000,000	$ 18,000,000	$ 26,000,000
Front Street RE (Cayman) Ltd. | Asset Sale and Recapitalization
Related Party Transaction [Line Items]
Interest rate										0.71%
Front Street RE (Cayman) Ltd. | Asset Sale and Recapitalization | Fair Value
Related Party Transaction [Line Items]
Note payable									$ 71,000,000
Salus Capital Partners LLC | FGL Loan Participation, CLO Subordinated Debt and Salus Promissory Note
Related Party Transaction [Line Items]
Number of debt instruments | loan			2	4	2	4
Salus CLO												$ 27,000,000
Salus loan participations												29,000,000
Salus promissory note												3,000,000
Repayment of promissory note	$ 2,000,000
Salus Capital Partners LLC | Salus Loan Participation, CLO Subordinated Debt
Related Party Transaction [Line Items]
Salus CLO												16,000,000
Salus loan participations												14,000,000
Salus promissory note												20,000,000
Salus line of credit												$ 10,000,000
Salus Capital Partners LLC | Management Fees | Salus
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 0	$ 0	$ 0	$ 0
Salus Capital Partners LLC | Management Fees | CorAmerica Capital, LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party			0	1,000,000	1,000,000	1,000,000
Salus Capital Partners LLC | Management Fees | Energy & Infrastructure Capital, LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 0	$ 0	$ 0	$ 0
HRG
Related Party Transaction [Line Items]
Fees reimbursed by entity, percentage of shares sold by affiliated entity triggering prorated reimbursement											50.00%
Subsequent Event [Member] | Front Street RE (Cayman) Ltd. | Asset Sale and Recapitalization
Related Party Transaction [Line Items]
Interest rate							1.50%

Related Party Transactions - Su

Related Party Transactions - Summary of Affiliated Entity Operations (Details) - Front Street RE (Cayman) Ltd. - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Related Party Transaction [Line Items]
Premiums	$ 1	$ 1	$ 1	$ 1
Net investment income	12	15	23	32
Net investment gains (losses)	6	(8)	3	(7)
Insurance and investment product fees	0	1	1	2
Total revenues	19	9	28	28
Benefits and other changes in policy reserves	(14)	(11)	(16)	(24)
Acquisition & operating expenses, net of deferrals	(1)	(1)	(2)	(2)
Total benefits and expenses	(15)	(12)	(18)	(26)
Operating income (loss)	$ 4	$ (3)	$ 10	$ 2

Related Party Transactions - Re

Related Party Transactions - Related Party Investments (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Sep. 30, 2016USD ($)borrower
Related Party Transaction [Line Items]
Other-than-temporary impairments	$ (21)	$ (1)	$ (22)	$ (11)
Realized losses on other invested assets	(1)	(1)	(3)	(3)
Salus participations
Related Party Transaction [Line Items]
Number of borrowers in loan participations | borrower					4
Average loan balance					$ 5
Available-for-sale Securities | Salus CLOs
Related Party Transaction [Line Items]
Other-than-temporary impairments	0	(1)	(1)	(5)
Realized losses on other invested assets	0	(1)	(1)	(5)
Fixed maturities, available-for-sale | Salus CLOs
Related Party Transaction [Line Items]
Asset carrying value	7		7		19
Accrued Investment Income	0		0		0
Total carrying value	7		7		19
Net investment income	0	2	1	5
Fixed maturities, available-for-sale | Fortress Investment Group CLOs
Related Party Transaction [Line Items]
Asset carrying value	273		273		225
Accrued Investment Income	2		2		2
Total carrying value	275		275		227
Net investment income	2	2	5	4
Fixed maturities, available-for-sale | Spectrum Brands, Inc.
Related Party Transaction [Line Items]
Asset carrying value	2		2
Accrued Investment Income	0		0
Total carrying value	2		2
Equities | Salus preferred equity
Related Party Transaction [Line Items]
Asset carrying value	1		1		3
Accrued Investment Income	0		0		0
Total carrying value	1		1		3
Other invested assets | Salus preferred equity
Related Party Transaction [Line Items]
Other-than-temporary impairments	0	0	(3)	0
Realized losses on other invested assets	0	0	(3)	0
Other invested assets | Salus participations
Related Party Transaction [Line Items]
Other-than-temporary impairments	(2)	0	(2)	(1)
Realized losses on other invested assets	(2)	0	(1)	(1)
Asset carrying value					21
Accrued Investment Income					0
Total carrying value					21
Net investment income	0	2	0	3
Related party loans | HGI energy loan
Related Party Transaction [Line Items]
Asset carrying value	71		71		71
Accrued Investment Income	0		0		0
Total carrying value	71		71		$ 71
Net investment income	$ 0	$ 1	$ 0	$ 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		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net income	$ 22	$ 9	$ 130	$ 57
Weighted-average common shares outstanding - basic (in shares)	58,326,396	58,306,784	58,303,213	58,262,922
Dilutive effect of unvested restricted stock & PRSU (in shares)	20,000	277,000	39,000	283,000
Dilutive effect of stock options (in shares)	36,000	27,000	33,000	27,000
Weighted-average shares outstanding - diluted (in shares)	58,382,130	58,610,762	58,374,519	58,573,472
Net income per common share:
Basic (in dollars per share)	$ 0.38	$ 0.16	$ 2.23	$ 0.98
Diluted (in dollars per share)	$ 0.38	$ 0.16	$ 2.23	$ 0.98

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Stock Option Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from EPS (in shares)	4	8	18	6

Insurance Subsidiary Financia81

Insurance Subsidiary Financial Information and Regulatory Matters (Details) - USD ($)	Mar. 31, 2017	Sep. 30, 2016	Apr. 06, 2011
Statutory Accounting Practices [Line Items]
Change in statutory capital and surplus for permitted practice	$ 189,000,000	$ 201,000,000
Change in statutory capital and surplus for non-permitted practice	7,000,000	5,000,000
Change in statutory capital and surplus balance is permitted practice was determined to be non-permitted	200,000,000	210,000,000
Increase (decrease) as a result of redomestication by entity	0
Unassigned balance netted against additional paid in capital			$ 806,000,000
Statutory unassigned surplus			$ 0
Iowa
Statutory Accounting Practices [Line Items]
Change in statutory capital and surplus for permitted practice	$ 4,000,000	$ 4,000,000