Allstate Life Insurance 10-Q1 Aug 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2014	Aug. 01, 2014
Document and Entity Information	'	'
Entity Registrant Name	'ALLSTATE LIFE INSURANCE CO	'
Entity Central Index Key	'0000352736	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	23,800
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues	'	'	'	'
Premiums	$143	$150	$299	$295
Contract charges	193	260	460	524
Net investment income	525	619	1,151	1,240
Realized capital gains and losses:	'	'	'	'
Total other-than-temporary impairment losses	-14	-15	-22	-16
Portion of loss recognized in other comprehensive income	'	-2	-1	-10
Net other-than-temporary impairment losses recognized in earnings	-14	-17	-23	-26
Sales and other realized capital gains and losses	4	75	13	103
Total realized capital gains and losses	-10	58	-10	77
Total revenues	851	1,087	1,900	2,136
Costs and expenses	'	'	'	'
Contract benefits	334	396	745	777
Interest credited to contractholder funds	205	304	505	643
Amortization of deferred policy acquisition costs	43	51	88	104
Operating costs and expenses	76	114	157	231
Restructuring and related charges	1	'	3	2
Interest expense	4	7	8	15
Total costs and expenses	663	872	1,506	1,772
Gain (loss) on disposition of operations	15	1	-44	3
Income from operations before income tax expense	203	216	350	367
Income tax expense	71	66	91	108
Net income	132	150	259	259
Other comprehensive (loss) income, after-tax	'	'	'	'
Change in unrealized net capital gains and losses	-4	-562	321	-536
Change in unrealized foreign currency translation adjustments	'	-1	1	'
Other comprehensive (loss) income, after-tax	-4	-563	322	-536
Comprehensive income (loss)	$128	($413)	$581	($277)

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Investments	'	'
Fixed income securities, at fair value (amortized cost $26,537 and $27,427)	$28,924	$28,756
Mortgage loans	3,684	4,173
Equity securities, at fair value (cost $1,124 and $565)	1,267	650
Limited partnership interests	1,866	2,064
Short term, at fair value (amortized cost $899 and $590)	899	590
Policy loans	611	623
Other	977	1,088
Total investments	38,228	37,944
Cash	121	93
Deferred policy acquisition costs	1,254	1,331
Reinsurance recoverables	2,597	2,754
Accrued investment income	347	358
Other assets	637	256
Separate Accounts	4,780	5,039
Assets held for sale	'	15,593
Total assets	47,964	63,368
Liabilities	'	'
Contractholder funds	22,764	23,604
Reserve for life-contingent contract benefits	11,880	11,589
Unearned premiums	6	6
Payable to affiliates, net	75	100
Other liabilities and accrued expenses	983	838
Deferred income taxes	1,250	941
Notes due to related parties	275	282
Separate Accounts	4,780	5,039
Liabilities held for sale	'	14,899
Total liabilities	42,013	57,298
Commitments and Contingent Liabilities (Note 8)	'	'
Shareholder's Equity	'	'
Common stock, $227 par value, 23,800 shares authorized and outstanding	5	5
Additional capital paid-in	1,990	2,690
Retained income	2,706	2,447
Unrealized net capital gains and losses:	'	'
Unrealized net capital gains and losses on fixed income securities with OTTI	43	31
Other unrealized net capital gains and losses	1,586	997
Unrealized adjustment to DAC, DSI and insurance reserves	-381	-101
Total unrealized net capital gains and losses	1,248	927
Unrealized foreign currency translation adjustments	2	1
Total accumulated other comprehensive income	1,250	928
Total shareholder's equity	5,951	6,070
Total liabilities and shareholder's equity	47,964	63,368
Series A	'	'
Shareholder's Equity	'	'
Redeemable preferred stock	'	'
Series B	'	'
Shareholder's Equity	'	'
Redeemable preferred stock	'	'

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Fixed income securities, at fair value, amortized cost (in dollars)	$26,537	$27,427
Equity securities, at fair value, cost (in dollars)	1,124	565
Short-term, at fair value, amortized cost (in dollars)	$899	$590
Common stock, par value (in dollars per share)	$227	$227
Common stock, shares authorized	23,800	23,800
Common stock, shares outstanding	23,800	23,800
Series A	'	'
Redeemable preferred stock, par value (in dollars per share)	$100	$100
Redeemable preferred stock, shares authorized	1,500,000	1,500,000
Redeemable preferred stock, shares issued	0	0
Series B	'	'
Redeemable preferred stock, par value (in dollars per share)	$100	$100
Redeemable preferred stock, shares authorized	1,500,000	1,500,000
Redeemable preferred stock, shares issued	0	0

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDER'S EQUITY (USD $)	Total	Common stock	Additional capital paid-in	Retained income	Accumulated other comprehensive income
In Millions, unless otherwise specified	Total	Common stock	Additional capital paid-in	Retained income	Accumulated other comprehensive income
Balance, beginning of period at Dec. 31, 2012	'	'	$3,190	$2,485	$1,633
Increase (decrease) in equity	'	'	'	'	'
Net income	259	'	'	259	'
Change in unrealized net capital gains and losses	-536	'	'	'	-536
Balance, end of period at Jun. 30, 2013	7,036	5	3,190	2,744	1,097
Balance, beginning of period at Dec. 31, 2013	6,070	'	2,690	2,447	928
Increase (decrease) in equity	'	'	'	'	'
Return of capital	'	'	-700	'	'
Net income	259	'	'	259	'
Change in unrealized net capital gains and losses	321	'	'	'	321
Change in unrealized foreign currency translation adjustments	1	'	'	'	1
Balance, end of period at Jun. 30, 2014	$5,951	$5	$1,990	$2,706	$1,250

CONDENSED_CONSOLIDATED_STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities	'	'
Net income	$259	$259
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Amortization and other non-cash items	-39	-32
Realized capital gains and losses	10	-77
Loss (gain) on disposition of operations	44	-3
Interest credited to contractholder funds	505	643
Changes in:	'	'
Policy benefits and other insurance reserves	-337	-348
Unearned premiums	-1	-1
Deferred policy acquisition costs	7	-26
Reinsurance recoverables, net	-4	-42
Income taxes	-8	110
Other operating assets and liabilities	-123	-52
Net cash provided by operating activities	313	431
Proceeds from sales	'	'
Fixed income securities	1,850	2,377
Equity securities	150	124
Limited partnership interests	215	109
Mortgage loans	10	20
Other investments	19	22
Investment collections	'	'
Fixed income securities	980	2,659
Mortgage loans	659	445
Other investments	29	65
Investment purchases	'	'
Fixed income securities	-1,541	-2,358
Equity securities	-689	-290
Limited partnership interests	-344	-185
Mortgage loans	-100	-301
Other investments	-63	-65
Change in short-term investments, net	133	18
Change in policy loans and other investments, net	64	76
Disposition of operations	345	'
Net cash provided by investing activities	1,717	2,716
Cash flows from financing activities	'	'
Contractholder fund deposits	605	1,051
Contractholder fund withdrawals	-1,900	-4,255
Return of capital	-700	'
Repayment of notes due to related parties	-7	-200
Net cash used in financing activities	-2,002	-3,404
Net increase (decrease) in cash	28	-257
Cash at beginning of period	93	341
Cash at end of period	$121	$84

General

General	6 Months Ended
General	Jun. 30, 2014
General	'
General	'
	1. General

	Basis of presentation

	The accompanying condensed consolidated financial statements include the accounts of Allstate Life Insurance Company (“ALIC”) and its wholly owned subsidiaries (collectively referred to as the “Company”). ALIC is wholly owned by Allstate Insurance Company (“AIC”), which is wholly owned by Allstate Insurance Holdings, LLC, a wholly owned subsidiary of The Allstate Corporation (the “Corporation”).

	The condensed consolidated financial statements and notes as of June 30, 2014 and for the three-month and six-month periods ended June 30, 2014 and 2013 are unaudited. The condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring accruals) which are, in the opinion of management, necessary for the fair presentation of the financial position, results of operations and cash flows for the interim periods. These condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the interim periods should not be considered indicative of results to be expected for the full year. All significant intercompany accounts and transactions have been eliminated.

	Premiums and contract charges

	The following table summarizes premiums and contract charges by product.

	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Premiums
	Traditional life insurance	$	122	$	116	$	245	$	228
	Immediate annuities with life contingencies		--		9		5		16
	Accident and health insurance		21		25		49		51
	Total premiums		143		150		299		295

	Contract charges
	Interest-sensitive life insurance		189		256		450		517
	Fixed annuities		4		4		10		7
	Total contract charges		193		260		460		524
	Total premiums and contract charges	$	336	$	410	$	759	$	819

	Pending accounting standard

	Accounting for Investments in Qualified Affordable Housing Projects

	In January 2014, the Financial Accounting Standards Board (“FASB”) issued guidance which allows entities that invest in certain qualified affordable housing projects through limited liability entities the option to account for these investments using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense or benefit. The guidance is effective for reporting periods beginning after December 15, 2014 and is to be applied retrospectively. Early adoption is permitted. The impact of adoption is not expected to be material to the Company’s results of operations and financial position.

Disposition

Disposition	6 Months Ended
Disposition	Jun. 30, 2014
Disposition	'
Disposition	'
	2. Disposition

	On April 1, 2014, the Company completed the sale of Lincoln Benefit Life Company (“LBL”), LBL’s life insurance business generated through independent master brokerage agencies, and all of LBL’s deferred fixed annuity and long-term care insurance business to Resolution Life Holdings, Inc. The gross sale price was $797 million, representing $596 million of cash and the retention of tax benefits. The loss on disposition decreased by $11 million, pre-tax, ($9 million, after-tax) and increased by $50 million, pre-tax, ($9 million, after-tax) in the three months and six months ended June 30, 2014, respectively.

	In conjunction with the sale, the Company was required to establish a trust relating to the business that LBL continues to cede to ALIC. This trust is required to have assets greater than or equal to the statutory reserves ceded by LBL to ALIC, measured on a monthly basis. As of June 30, 2014, the trust holds $5.36 billion of investments.

	The following table summarizes the assets and liabilities classified as held for sale as of December 31, 2013.

	($ in millions)
	Assets
	Investments
	Fixed income securities	$	10,167
	Mortgage loans		1,367
	Short-term investments		160
	Policy loans		198
	Other investments		91
	Total investments		11,983
	Cash		--
	Deferred policy acquisition costs		743
	Reinsurance recoverables, net		1,660
	Accrued investment income		109
	Other assets		79
	Separate Accounts		1,701
	Assets held for sale		16,275
	Less: Loss accrual		-682
	Total assets held for sale	$	15,593
	Liabilities
	Reserve for life-contingent contract benefits	$	1,894
	Contractholder funds		10,945
	Unearned premiums		12
	Deferred income taxes		151
	Other liabilities and accrued expenses		196
	Separate Accounts		1,701
	Total liabilities held for sale	$	14,899

	Included in shareholder’s equity was $85 million of accumulated other comprehensive income related to assets held for sale as of December 31, 2013.

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information	6 Months Ended
Supplemental Cash Flow Information	Jun. 30, 2014
Supplemental Cash Flow Information	'
Supplemental Cash Flow Information	'
	3. Supplemental Cash Flow Information

	Non-cash modifications of certain mortgage loans, fixed income securities, limited partnership interests and other investments, as well as mergers completed with equity securities, totaled $77 million and $191 million for the six months ended June 30, 2014 and 2013, respectively.

	Liabilities for collateral received in conjunction with the Company’s securities lending program and over-the-counter (“OTC”) and cleared derivatives are reported in other liabilities and accrued expenses or other investments. The accompanying cash flows are included in cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows along with the activities resulting from management of the proceeds, which are as follows:

	($ in millions)		Six months ended
	($ in millions)		June 30,
			2014		2013
	Net change in proceeds managed
	Net change in short-term investments	$	-282	$	115
	Operating cash flow (used) provided	$	-282	$	115

	Net change in liabilities
	Liabilities for collateral, beginning of period	$	-328	$	-561
	Liabilities for collateral, end of period		-610		-446
	Operating cash flow provided (used)	$	282	$	-115

Investments

Investments	6 Months Ended
Investments	Jun. 30, 2014
Investments	'
Investments	'
	4. Investments

	Fair values

	The amortized cost, gross unrealized gains and losses and fair value for fixed income securities are as follows:

	($ in millions)		Amortized		Gross unrealized				Fair
			cost		Gains		Losses		value
	June 30, 2014
	U.S. government and agencies	$	712	$	102	$	--	$	814
	Municipal		3,099		419		-13		3,505
	Corporate		19,911		1,761		-77		21,595
	Foreign government		662		89		-1		750
	Asset-backed securities (“ABS”)		862		26		-25		863
	Residential mortgage-backed securities (“RMBS”)		652		57		-7		702
	Commercial mortgage-backed securities (“CMBS”)		626		56		-3		679
	Redeemable preferred stock		13		3		--		16
	Total fixed income securities	$	26,537	$	2,513	$	-126	$	28,924

	December 31, 2013
	U.S. government and agencies	$	678	$	90	$	-2	$	766
	Municipal		3,135		231		-62		3,304
	Corporate		20,397		1,214		-295		21,316
	Foreign government		715		83		-6		792
	ABS		1,011		30		-34		1,007
	RMBS		752		50		-12		790
	CMBS		724		47		-7		764
	Redeemable preferred stock		15		2		--		17
	Total fixed income securities	$	27,427	$	1,747	$	-418	$	28,756

	Scheduled maturities

	The scheduled maturities for fixed income securities are as follows as of June 30, 2014:

	($ in millions)		Amortized		Fair
	($ in millions)		cost		value
	Due in one year or less	$	1,362	$	1,388
	Due after one year through five years		5,066		5,529
	Due after five years through ten years		10,477		11,203
	Due after ten years		7,492		8,560
			24,397		26,680
	ABS, RMBS and CMBS		2,140		2,244
	Total	$	26,537	$	28,924

	Actual maturities may differ from those scheduled as a result of calls and make-whole payments by the issuers. ABS, RMBS and CMBS are shown separately because of the potential for prepayment of principal prior to contractual maturity dates.

	Net investment income

	Net investment income is as follows:

	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Fixed income securities	$	356	$	494	$	830	$	990
	Mortgage loans		65		87		140		178
	Equity securities		6		3		10		5
	Limited partnership interests		91		37		158		67
	Short-term investments		1		--		1		1
	Policy loans		9		12		20		24
	Other		13		16		28		32
	Investment income, before expense		541		649		1,187		1,297
	Investment expense		-16		-30		-36		-57
	Net investment income	$	525	$	619	$	1,151	$	1,240

Realized capital gains and losses

Realized capital gains and losses by asset type are as follows:

($ in millions)		Three months ended				Six months ended
($ in millions)		June 30,				June 30,
		2014		2013		2014		2013
Fixed income securities	$	5	$	24	$	--	$	6
Mortgage loans		-2		-6		1		25
Equity securities		14		31		16		32
Limited partnership interests		-28		-3		-33		-3
Derivatives		1		12		3		19
Other		--		--		3		-2
Realized capital gains and losses	$	-10	$	58	$	-10	$	77

Realized capital gains and losses by transaction type are as follows:

($ in millions)		Three months ended				Six months ended
($ in millions)		June 30,				June 30,
		2014		2013		2014		2013
Impairment write-downs	$	--	$	-16	$	-4	$	-18
Change in intent write-downs		-14		-1		-19		-8
Net other-than-temporary impairment losses recognized in earnings		-14		-17		-23		-26
Sales		1		63		8		84
Valuation and settlements of derivative instruments		3		12		5		19
Realized capital gains and losses	$	-10	$	58	$	-10	$	77

Gross gains of $36 million and $74 million and gross losses of $15 million and $15 million were realized on sales of fixed income and equity securities during the three months ended June 30, 2014 and 2013, respectively. Gross gains of $53 million and $99 million and gross losses of $29 million and $24 million were realized on sales of fixed income and equity securities during the six months ended June 30, 2014 and 2013, respectively.

Other-than-temporary impairment losses by asset type are as follows:

($ in millions)		Three months ended						Six months ended
($ in millions)		June 30, 2014						June 30, 2014
		Gross		Included		Net		Gross		Included		Net
		Gross		in OCI		Net		Gross		in OCI		Net
Fixed income securities:
Municipal	$	--	$	--	$	--	$	-1	$	--	$	-1
ABS		-1		--		-1		-1		--		-1
RMBS		3		--		3		3		-1		2
Total fixed income securities		2		--		2		1		-1		--
Mortgage loans		--		--		--		4		--		4
Equity securities		-4		--		-4		-8		--		-8
Limited partnership interests		-12		--		-12		-19		--		-19
Other-than-temporary impairment losses	$	-14	$	--	$	-14	$	-22	$	-1	$	-23

		Three months ended						Six months ended
		30-Jun-13						30-Jun-13
		Gross		Included		Net		Gross		Included		Net
		Gross		in OCI		Net		Gross		in OCI		Net
Fixed income securities:
Municipal	$	-1	$	--	$	-1	$	-8	$	--	$	-8
ABS		--		-1		-1		--		-1		-1
RMBS		--		--		--		1		-1		--
CMBS		--		-1		-1		-19		-8		-27
Total fixed income securities		-1		-2		-3		-26		-10		-36
Mortgage loans		-9		--		-9		17		--		17
Equity securities		-1		--		-1		-1		--		-1
Limited partnership interests		-4		--		-4		-4		--		-4
Other		--		--		--		-2		--		-2
Other-than-temporary impairment losses	$	-15	$	-2	$	-17	$	-16	$	-10	$	-26

The total amount of other-than-temporary impairment losses included in accumulated other comprehensive income at the time of impairment for fixed income securities, which were not included in earnings, are presented in the following table. The amounts exclude $143 million and $164 million as of June 30, 2014 and December 31, 2013, respectively, of net unrealized gains related to changes in valuation of the fixed income securities subsequent to the impairment measurement date.

($ in millions)		June 30,		December 31,
($ in millions)		2014		2013
Municipal	$	-5	$	-5
ABS		-10		-10
RMBS		-57		-90
CMBS		-5		-12
Total	$	-77	$	-117

Rollforwards of the cumulative credit losses recognized in earnings for fixed income securities held as of the end of the period are as follows:

($ in millions)		Three months ended				Six months ended
($ in millions)		June 30,				June 30,
		2014		2013		2014		2013
Beginning balance	$	-293	$	-343	$	-299	$	-345
Additional credit loss for securities previously other-than-temporarily impaired		3		-2		2		-12
Additional credit loss for securities not previously other-than-temporarily impaired		-1		-1		-1		-17
Reduction in credit loss for securities disposed or collected		3		28		10		56
Reduction in credit loss for securities the Company has made the decision to sell or more likely than not will be required to sell		--		--		--		--
Change in credit loss due to accretion of increase in cash flows		--		--		--		--
Reduction in credit loss for securities sold in LBL disposition		59		--		59		--
Ending balance	$	-229	$	-318	$	-229	$	-318

The Company uses its best estimate of future cash flows expected to be collected from the fixed income security, discounted at the security’s original or current effective rate, as appropriate, to calculate a recovery value and determine whether a credit loss exists. The determination of cash flow estimates is inherently subjective and methodologies may vary depending on facts and circumstances specific to the security. All reasonably available information relevant to the collectability of the security, including past events, current conditions, and reasonable and supportable assumptions and forecasts, are considered when developing the estimate of cash flows expected to be collected. That information generally includes, but is not limited to, the remaining payment terms of the security, prepayment speeds, foreign exchange rates, the financial condition and future earnings potential of the issue or issuer, expected defaults, expected recoveries, the value of underlying collateral, vintage, geographic concentration, available reserves or escrows, current subordination levels, third party guarantees and other credit enhancements. Other information, such as industry analyst reports and forecasts, sector credit ratings, financial condition of the bond insurer for insured fixed income securities, and other market data relevant to the realizability of contractual cash flows, may also be considered. The estimated fair value of collateral will be used to estimate recovery value if the Company determines that the security is dependent on the liquidation of collateral for ultimate settlement. If the estimated recovery value is less than the amortized cost of the security, a credit loss exists and an other-than-temporary impairment for the difference between the estimated recovery value and amortized cost is recorded in earnings. The portion of the unrealized loss related to factors other than credit remains classified in accumulated other comprehensive income. If the Company determines that the fixed income security does not have sufficient cash flow or other information to estimate a recovery value for the security, the Company may conclude that the entire decline in fair value is deemed to be credit related and the loss is recorded in earnings.

Unrealized net capital gains and losses

Unrealized net capital gains and losses included in accumulated other comprehensive income are as follows:

($ in millions)		Fair		Gross unrealized				Unrealized net
June 30, 2014		value		Gains		Losses		gains (losses)
Fixed income securities	$	28,924	$	2,513	$	-126		$	2,387
Equity securities		1,267		148		-5			143
Short-term investments		899		--		--			--
Derivative instruments (1)		-15		1		-16			-15
Equity method (“EMA”) limited partnerships (2)									-2
Unrealized net capital gains and losses, pre-tax									2,513
Amounts recognized for:
Insurance reserves (3)									-399
DAC and DSI (4)									-186
Amounts recognized									-585
Deferred income taxes									-680
Unrealized net capital gains and losses, after-tax								$	1,248


(1) Included in the fair value of derivative instruments are $1 million classified as assets and $16 million classified as liabilities.

(2) Unrealized net capital gains and losses for limited partnership interests represent the Company’s share of EMA limited partnerships’ other comprehensive income. Fair value and gross unrealized gains and losses are not applicable.

(3) The insurance reserves adjustment represents the amount by which the reserve balance would increase if the net unrealized gains in the applicable product portfolios were realized and reinvested at current lower interest rates, resulting in a premium deficiency. Although the Company evaluates premium deficiencies on the combined performance of life insurance and immediate annuities with life contingencies, the adjustment primarily relates to structured settlement annuities with life contingencies, in addition to annuity buy-outs and certain payout annuities with life contingencies.

(4) The DAC and DSI adjustment balance represents the amount by which the amortization of DAC and DSI would increase or decrease if the unrealized gains or losses in the respective product portfolios were realized.

($ in millions)		Fair		Gross unrealized				Unrealized net
31-Dec-13		value		Gains		Losses		gains (losses)
Fixed income securities	$	28,756	$	1,747	$	-418		$	1,329
Equity securities		650		90		-5			85
Short-term investments		590		--		--			--
Derivative instruments (1)		-13		1		-14			-13
EMA limited partnerships									-2
Investments classified as held for sale									190
Unrealized net capital gains and losses, pre-tax									1,589
Amounts recognized for:
Insurance reserves									--
DAC and DSI									-156
Amounts recognized									-156
Deferred income taxes									-506
Unrealized net capital gains and losses, after-tax								$	927


-1	Included in the fair value of derivative instruments are $1 million classified as assets and $14 million classified as liabilities.

Change in unrealized net capital gains and losses

The change in unrealized net capital gains and losses for the six months ended June 30, 2014 is as follows:

($ in millions)
Fixed income securities	$	1,058
Equity securities		58
Derivative instruments		-2
Investments classified as held for sale		-190
Total		924
Amounts recognized for:
Insurance reserves		-399
DAC and DSI		-30
Amounts recognized		-429
Deferred income taxes		-174
Increase in unrealized net capital gains and losses, after-tax	$	321

Portfolio monitoring

The Company has a comprehensive portfolio monitoring process to identify and evaluate each fixed income and equity security whose carrying value may be other-than-temporarily impaired.

For each fixed income security in an unrealized loss position, the Company assesses whether management with the appropriate authority has made the decision to sell or whether it is more likely than not the Company will be required to sell the security before recovery of the amortized cost basis for reasons such as liquidity, contractual or regulatory purposes. If a security meets either of these criteria, the security’s decline in fair value is considered other than temporary and is recorded in earnings.

If the Company has not made the decision to sell the fixed income security and it is not more likely than not the Company will be required to sell the fixed income security before recovery of its amortized cost basis, the Company evaluates whether it expects to receive cash flows sufficient to recover the entire amortized cost basis of the security. The Company calculates the estimated recovery value by discounting the best estimate of future cash flows at the security’s original or current effective rate, as appropriate, and compares this to the amortized cost of the security. If the Company does not expect to receive cash flows sufficient to recover the entire amortized cost basis of the fixed income security, the credit loss component of the impairment is recorded in earnings, with the remaining amount of the unrealized loss related to other factors recognized in other comprehensive income.

For equity securities, the Company considers various factors, including whether it has the intent and ability to hold the equity security for a period of time sufficient to recover its cost basis. Where the Company lacks the intent and ability to hold to recovery, or believes the recovery period is extended, the equity security’s decline in fair value is considered other than temporary and is recorded in earnings.

For fixed income and equity securities managed by third parties, either the Company has contractually retained its decision making authority as it pertains to selling securities that are in an unrealized loss position or it recognizes any unrealized loss at the end of the period through a charge to earnings.

The Company’s portfolio monitoring process includes a quarterly review of all securities to identify instances where the fair value of a security compared to its amortized cost (for fixed income securities) or cost (for equity securities) is below established thresholds. The process also includes the monitoring of other impairment indicators such as ratings, ratings downgrades and payment defaults. The securities identified, in addition to other securities for which the Company may have a concern, are evaluated for potential other-than-temporary impairment using all reasonably available information relevant to the collectability or recovery of the security. Inherent in the Company’s evaluation of other-than-temporary impairment for these fixed income and equity securities are assumptions and estimates about the financial condition and future earnings potential of the issue or issuer. Some of the factors that may be considered in evaluating whether a decline in fair value is other than temporary are: 1) the financial condition, near-term and long-term prospects of the issue or issuer, including relevant industry specific market conditions and trends, geographic location and implications of rating agency actions and offering prices; 2) the specific reasons that a security is in an unrealized loss position, including overall market conditions which could affect liquidity; and 3) the length of time and extent to which the fair value has been less than amortized cost or cost.

The following table summarizes the gross unrealized losses and fair value of fixed income and equity securities by the length of time that individual securities have been in a continuous unrealized loss position.

($ in millions)		Less than 12 months						12 months or more						Total
		Number		Fair		Unrealized		Number		Fair		Unrealized		unrealized
		of issues		value		losses		of issues		value		losses		losses
June 30, 2014
Fixed income securities
U.S. government and agencies		24	$	6	$	--		--	$	--	$	--	$	--
Municipal		1		3		--		33		182		-13		-13
Corporate		50		324		-4		139		1,290		-73		-77
Foreign government		--		--		--		1		14		-1		-1
ABS		9		57		-1		29		271		-24		-25
RMBS		24		11		--		46		104		-7		-7
CMBS		5		8		--		4		43		-3		-3
Total fixed income securities		113		409		-5		252		1,904		-121		-126
Equity securities		38		97		-3		1		51		-2		-5
Total fixed income and equity securities		151	$	506	$	-8		253	$	1,955	$	-123	$	-131

Investment grade fixed income securities		78	$	255	$	-3		197	$	1,568	$	-84	$	-87
Below investment grade fixed income securities		35		154		-2		55		336		-37		-39
Total fixed income securities		113	$	409	$	-5		252	$	1,904	$	-121	$	-126

December 31, 2013
Fixed income securities
U.S. government and agencies		4	$	76	$	-2		--	$	--	$	--	$	-2
Municipal		63		347		-24		21		99		-38		-62
Corporate		530		5,191		-224		48		467		-71		-295
Foreign government		7		76		-4		1		13		-2		-6
ABS		17		162		-1		42		400		-33		-34
RMBS		35		42		-2		47		129		-10		-12
CMBS		5		14		--		6		52		-7		-7
Total fixed income securities		661		5,908		-257		165		1,160		-161		-418
Equity securities		25		80		-5		--		--		--		-5
Total fixed income and equity securities		686	$	5,988	$	-262		165	$	1,160	$	-161	$	-423

Investment grade fixed income securities		526	$	5,272	$	-236		110	$	834	$	-112	$	-348
Below investment grade fixed income securities		135		636		-21		55		326		-49		-70
Total fixed income securities		661	$	5,908	$	-257		165	$	1,160	$	-161	$	-418

As of June 30, 2014, $93 million of unrealized losses are related to securities with an unrealized loss position less than 20% of amortized cost or cost, the degree of which suggests that these securities do not pose a high risk of being other-than-temporarily impaired. Of the $93 million, $62 million are related to unrealized losses on investment grade fixed income securities. Investment grade is defined as a security having a rating of Aaa, Aa, A or Baa from Moody’s, a rating of AAA, AA, A or BBB from Standards and Poor’s (“S&P”), Fitch, Dominion, Kroll or Realpoint, a rating of aaa, aa, a or bbb from A.M. Best, or a comparable internal rating if an externally provided rating is not available. Unrealized losses on investment grade securities are principally related to increasing risk-free interest rates or widening credit spreads since the time of initial purchase.

As of June 30, 2014, the remaining $38 million of unrealized losses are related to securities in unrealized loss positions greater than or equal to 20% of amortized cost. Investment grade fixed income securities comprising $25 million of these unrealized losses were evaluated based on factors such as discounted cash flows and the financial condition and near-term and long-term prospects of the issue or issuer and were determined to have adequate resources to fulfill contractual obligations. Of the $38 million, $13 million are related to below investment grade fixed income securities. Of these amounts, $11 million are related to below investment grade fixed income securities that had been in an unrealized loss position greater than or equal to 20% of amortized cost for a period of twelve or more consecutive months as of June 30, 2014.

ABS, RMBS and CMBS in an unrealized loss position were evaluated based on actual and projected collateral losses relative to the securities’ positions in the respective securitization trusts, security specific expectations of cash flows, and credit ratings. This evaluation also takes into consideration credit enhancement, measured in terms of (i) subordination from other classes of securities in the trust that are contractually obligated to absorb losses before the class of security the Company owns, (ii) the expected impact of other structural features embedded in the securitization trust beneficial to the class of securities the Company owns, such as overcollateralization and excess spread, and (iii) for ABS and RMBS in an unrealized loss position, credit enhancements from reliable bond insurers, where applicable. Municipal bonds in an unrealized loss position were evaluated based on the quality of the underlying assets. Unrealized losses on equity securities are primarily related to temporary equity market fluctuations of securities that are expected to recover.

As of June 30, 2014, the Company has not made the decision to sell and it is not more likely than not the Company will be required to sell fixed income securities with unrealized losses before recovery of the amortized cost basis. As of June 30, 2014, the Company had the intent and ability to hold equity securities with unrealized losses for a period of time sufficient for them to recover.

Limited partnerships

As of June 30, 2014 and December 31, 2013, the carrying value of equity method limited partnerships totaled $1.33 billion and $1.46 billion, respectively. The Company recognizes an impairment loss for equity method limited partnerships when evidence demonstrates that the loss is other than temporary. Evidence of a loss in value that is other than temporary may include the absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain a level of earnings that would justify the carrying amount of the investment. The Company had no impairment write-downs related to equity method limited partnerships for the three months or six months ended June 30, 2014 and 2013.

As of June 30, 2014 and December 31, 2013, the carrying value for cost method limited partnerships was $535 million and $605 million, respectively. To determine if an other-than-temporary impairment has occurred, the Company evaluates whether an impairment indicator has occurred in the period that may have a significant adverse effect on the carrying value of the investment. Impairment indicators may include: significantly reduced valuations of the investments held by the limited partnerships; actual recent cash flows received being significantly less than expected cash flows; reduced valuations based on financing completed at a lower value; completed sale of a material underlying investment at a price significantly lower than expected; or any other adverse events since the last financial statements received that might affect the fair value of the investee’s capital. Additionally, the Company’s portfolio monitoring process includes a quarterly review of all cost method limited partnerships to identify instances where the net asset value is below established thresholds for certain periods of time, as well as investments that are performing below expectations, for further impairment consideration. If a cost method limited partnership is other-than-temporarily impaired, the carrying value is written down to fair value, generally estimated to be equivalent to the reported net asset value of the underlying funds. The Company had $2 million and $9 million of impairment write-downs related to cost method limited partnerships for the three months and six months ended June 30, 2014, respectively. The Company had $4 million of impairment write-downs related to cost method limited partnerships for both the three months and six months ended June 30, 2013.

Tax credit funds were reclassified from limited partnership interests to other assets as of June 30, 2014 since the return on these funds is in the form of tax credits rather than investment income. These tax credit funds totaled $292 million as of June 30, 2014.

Mortgage loans

Mortgage loans are evaluated for impairment on a specific loan basis through a quarterly credit monitoring process and review of key credit quality indicators. Mortgage loans are considered impaired when it is probable that the Company will not collect the contractual principal and interest. Valuation allowances are established for impaired loans to reduce the carrying value to the fair value of the collateral less costs to sell or the present value of the loan’s expected future repayment cash flows discounted at the loan’s original effective interest rate. Impaired mortgage loans may not have a valuation allowance when the fair value of the collateral less costs to sell is higher than the carrying value. Valuation allowances are adjusted for subsequent changes in the fair value of the collateral less costs to sell. Mortgage loans are charged off against their corresponding valuation allowances when there is no reasonable expectation of recovery. The impairment evaluation is non-statistical in respect to the aggregate portfolio but considers facts and circumstances attributable to each loan. It is not considered probable that additional impairment losses, beyond those identified on a specific loan basis, have been incurred as of June 30, 2014.

Accrual of income is suspended for mortgage loans that are in default or when full and timely collection of principal and interest payments is not probable. Cash receipts on mortgage loans on nonaccrual status are generally recorded as a reduction of carrying value.

Debt service coverage ratio is considered a key credit quality indicator when mortgage loans are evaluated for impairment. Debt service coverage ratio represents the amount of estimated cash flows from the property available to the borrower to meet principal and interest payment obligations. Debt service coverage ratio estimates are updated annually or more frequently if conditions are warranted based on the Company’s credit monitoring process.

The following table reflects the carrying value of non-impaired fixed rate and variable rate mortgage loans summarized by debt service coverage ratio distribution.

($ in millions)		June 30, 2014						December 31, 2013
Debt service coverage		Fixed rate		Variable rate		Total		Fixed rate		Variable rate		Total
ratio distribution		mortgage		mortgage				mortgage		mortgage
		loans		loans				loans		loans
Below 1.0	$	172	$	--	$	172	$	153	$	--	$	153
1.0 - 1.25		462		--		462		560		--		560
1.26 - 1.50		1,069		2		1,071		1,167		2		1,169
Above 1.50		1,928		38		1,966		2,176		38		2,214
Total non-impaired mortgage loans	$	3,631	$	40	$	3,671	$	4,056	$	40	$	4,096

Mortgage loans with a debt service coverage ratio below 1.0 that are not considered impaired primarily relate to instances where the borrower has the financial capacity to fund the revenue shortfalls from the properties for the foreseeable term, the decrease in cash flows from the properties is considered temporary, or there are other risk mitigating circumstances such as additional collateral, escrow balances or borrower guarantees.

The net carrying value of impaired mortgage loans is as follows:

($ in millions)		June 30,		December 31,
($ in millions)		2014		2013
Impaired mortgage loans with a valuation allowance	$	13	$	77
Impaired mortgage loans without a valuation allowance		--		--
Total impaired mortgage loans	$	13	$	77
Valuation allowance on impaired mortgage loans	$	9	$	21

The average balance of impaired loans was $35 million and $88 million for the six months ended June 30, 2014 and 2013, respectively.

The rollforward of the valuation allowance on impaired mortgage loans is as follows:

($ in millions)		Three months ended				Six months ended
($ in millions)		June 30,				June 30,
		2014		2013		2014		2013
Beginning balance	$	9	$	15	$	21	$	42
Net increase (decrease) in valuation allowance		--		9		-4		-17
Charge offs		--		-3		-8		-4
Ending balance	$	9	$	21	$	9	$	21

Payments on all mortgage loans were current as of June 30, 2014 and December 31, 2013.

Fair_Value_of_Assets_and_Liabi

Fair Value of Assets and Liabilities	6 Months Ended
Fair Value of Assets and Liabilities	Jun. 30, 2014
Fair Value of Assets and Liabilities	'
Fair Value of Assets and Liabilities	'
	5. Fair Value of Assets and Liabilities

	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The hierarchy for inputs used in determining fair value maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Assets and liabilities recorded on the Condensed Consolidated Statements of Financial Position at fair value are categorized in the fair value hierarchy based on the observability of inputs to the valuation techniques as follows:

	Level 1: Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company can access.

	Level 2: Assets and liabilities whose values are based on the following:

	(a) Quoted prices for similar assets or liabilities in active markets;
	(b) Quoted prices for identical or similar assets or liabilities in markets that are not active; or
	(c) Valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability.

	Level 3: Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Unobservable inputs reflect the Company’s estimates of the assumptions that market participants would use in valuing the assets and liabilities.

	The availability of observable inputs varies by instrument. In situations where fair value is based on internally developed pricing models or inputs that are unobservable in the market, the determination of fair value requires more judgment. The degree of judgment exercised by the Company in determining fair value is typically greatest for instruments categorized in Level 3. In many instances, valuation inputs used to measure fair value fall into different levels of the fair value hierarchy. The category level in the fair value hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company uses prices and inputs that are current as of the measurement date, including during periods of market disruption. In periods of market disruption, the ability to observe prices and inputs may be reduced for many instruments.

	The Company is responsible for the determination of fair value and the supporting assumptions and methodologies. The Company gains assurance that assets and liabilities are appropriately valued through the execution of various processes and controls designed to ensure the overall reasonableness and consistent application of valuation methodologies, including inputs and assumptions, and compliance with accounting standards. For fair values received from third parties or internally estimated, the Company’s processes and controls are designed to ensure that the valuation methodologies are appropriate and consistently applied, the inputs and assumptions are reasonable and consistent with the objective of determining fair value, and the fair values are accurately recorded. For example, on a continuing basis, the Company assesses the reasonableness of individual fair values that have stale security prices or that exceed certain thresholds as compared to previous fair values received from valuation service providers or brokers or derived from internal models. The Company performs procedures to understand and assess the methodologies, processes and controls of valuation service providers. In addition, the Company may validate the reasonableness of fair values by comparing information obtained from valuation service providers or brokers to other third party valuation sources for selected securities. The Company performs ongoing price validation procedures such as back-testing of actual sales, which corroborate the various inputs used in internal models to market observable data. When fair value determinations are expected to be more variable, the Company validates them through reviews by members of management who have relevant expertise and who are independent of those charged with executing investment transactions.

	The Company has two types of situations where investments are classified as Level 3 in the fair value hierarchy. The first is where quotes continue to be received from independent third-party valuation service providers and all significant inputs are market observable; however, there has been a significant decrease in the volume and level of activity for the asset when compared to normal market activity such that the degree of market observability has declined to a point where categorization as a Level 3 measurement is considered appropriate. The indicators considered in determining whether a significant decrease in the volume and level of activity for a specific asset has occurred include the level of new issuances in the primary market, trading volume in the secondary market, the level of credit spreads over historical levels, applicable bid-ask spreads, and price consensus among market participants and other pricing sources.

	The second situation where the Company classifies securities in Level 3 is where specific inputs significant to the fair value estimation models are not market observable. This primarily occurs in the Company’s use of broker quotes to value certain securities where the inputs have not been corroborated to be market observable, and the use of valuation models that use significant non-market observable inputs.

	Certain assets are not carried at fair value on a recurring basis, including investments such as mortgage loans, limited partnership interests, bank loans and policy loans. Accordingly, such investments are only included in the fair value hierarchy disclosure when the investment is subject to remeasurement at fair value after initial recognition and the resulting remeasurement is reflected in the condensed consolidated financial statements. In addition, derivatives embedded in fixed income securities are not disclosed in the hierarchy as free-standing derivatives since they are presented with the host contracts in fixed income securities.

	In determining fair value, the Company principally uses the market approach which generally utilizes market transaction data for the same or similar instruments. To a lesser extent, the Company uses the income approach which involves determining fair values from discounted cash flow methodologies. For the majority of Level 2 and Level 3 valuations, a combination of the market and income approaches is used.

	Summary of significant valuation techniques for assets and liabilities measured at fair value on a recurring basis

	Level 1 measurements

	· Fixed income securities: Comprise certain U.S. Treasury fixed income securities. Valuation is based on unadjusted quoted prices for identical assets in active markets that the Company can access.

	· Equity securities: Comprise actively traded, exchange-listed equity securities. Valuation is based on unadjusted quoted prices for identical assets in active markets that the Company can access.

	· Short-term: Comprise actively traded money market funds that have daily quoted net asset values for identical assets that the Company can access.

	· Separate account assets: Comprise actively traded mutual funds that have daily quoted net asset values for identical assets that the Company can access. Net asset values for the actively traded mutual funds in which the separate account assets are invested are obtained daily from the fund managers.

	· Assets held for sale: Comprise U.S. Treasury fixed income securities, short-term investments and separate account assets. The valuation is based on the respective asset type as described above.

	Level 2 measurements

	· Fixed income securities:

	U.S. government and agencies: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads.

	Municipal: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads.

	Corporate, including privately placed: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads. Also included are privately placed securities valued using a discounted cash flow model that is widely accepted in the financial services industry and uses market observable inputs and inputs derived principally from, or corroborated by, observable market data. The primary inputs to the discounted cash flow model include an interest rate yield curve, as well as published credit spreads for similar assets in markets that are not active that incorporate the credit quality and industry sector of the issuer.

	Foreign government: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads.

	ABS and RMBS: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, prepayment speeds, collateral performance and credit spreads. Certain ABS are valued based on non-binding broker quotes whose inputs have been corroborated to be market observable.

	CMBS: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, collateral performance and credit spreads.

	Redeemable preferred stock: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, underlying stock prices and credit spreads.

	· Equity securities: The primary inputs to the valuation include quoted prices or quoted net asset values for identical or similar assets in markets that are not active.

	· Short-term: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads. For certain short-term investments, amortized cost is used as the best estimate of fair value.

	· Other investments: Free-standing exchange listed derivatives that are not actively traded are valued based on quoted prices for identical instruments in markets that are not active.

OTC derivatives, including interest rate swaps, foreign currency swaps, foreign exchange forward contracts, certain options and certain credit default swaps, are valued using models that rely on inputs such as interest rate yield curves, currency rates, and counterparty credit spreads that are observable for substantially the full term of the contract. The valuation techniques underlying the models are widely accepted in the financial services industry and do not involve significant judgment.

· Assets held for sale: Comprise U.S. government and agencies, municipal, corporate, foreign government, ABS, RMBS and CMBS fixed income securities, and short-term investments. The valuation is based on the respective asset type as described above.

Level 3 measurements

· Fixed income securities:

Municipal: Comprise municipal bonds that are not rated by third party credit rating agencies but are rated by the National Association of Insurance Commissioners (“NAIC”). The primary inputs to the valuation of these municipal bonds include quoted prices for identical or similar assets in markets that exhibit less liquidity relative to those markets supporting Level 2 fair value measurements, contractual cash flows, benchmark yields and credit spreads. Also included are municipal bonds valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. Also includes auction rate securities (“ARS”) primarily backed by student loans that have become illiquid due to failures in the auction market and are valued using a discounted cash flow model that is widely accepted in the financial services industry and uses significant non-market observable inputs, including the anticipated date liquidity will return to the market.

Corporate, including privately placed: Primarily valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. Also included are equity-indexed notes which are valued using a discounted cash flow model that is widely accepted in the financial services industry and uses significant non-market observable inputs, such as volatility. Other inputs include an interest rate yield curve, as well as published credit spreads for similar assets that incorporate the credit quality and industry sector of the issuer.

ABS and CMBS: Valued based on non-binding broker quotes received from brokers who are familiar with the investments and where the inputs have not been corroborated to be market observable.

· Equity securities: The primary inputs to the valuation include quoted prices or quoted net asset values for identical or similar assets in markets that exhibit less liquidity relative to those markets supporting Level 2 fair value measurements.

· Other investments: Certain OTC derivatives, such as interest rate caps, certain credit default swaps and certain options (including swaptions), are valued using models that are widely accepted in the financial services industry. These are categorized as Level 3 as a result of the significance of non-market observable inputs such as volatility. Other primary inputs include interest rate yield curves and credit spreads.

· Assets held for sale: Comprise municipal, corporate, ABS and CMBS fixed income securities. The valuation is based on the respective asset type as described above.

· Contractholder funds: Derivatives embedded in certain life and annuity contracts are valued internally using models widely accepted in the financial services industry that determine a single best estimate of fair value for the embedded derivatives within a block of contractholder liabilities. The models primarily use stochastically determined cash flows based on the contractual elements of embedded derivatives, projected option cost and applicable market data, such as interest rate yield curves and equity index volatility assumptions. These are categorized as Level 3 as a result of the significance of non-market observable inputs.

· Liabilities held for sale: Comprise derivatives embedded in life and annuity contracts. The valuation is the same as described above for contractholder funds.

Assets and liabilities measured at fair value on a non-recurring basis

Mortgage loans written-down to fair value in connection with recognizing impairments are valued based on the fair value of the underlying collateral less costs to sell. Limited partnership interests written-down to fair value in connection with recognizing other-than-temporary impairments are valued using net asset values. The carrying value of the LBL business was written-down to fair value in connection with being classified as held for sale.

The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring and non-recurring basis as of June 30, 2014.

($ in millions)			Quoted prices			Significant			Significant			Counterparty		Balance
			in active			other			unobservable			and cash		as of
			markets for			observable			inputs			collateral		June 30,
			identical assets			inputs			(Level 3)			netting		2014
			(Level 1)			(Level 2)
Assets
Fixed income securities:
U.S. government and agencies		$	170		$	644		$	--				$	814
Municipal			--			3,403			102					3,505
Corporate			--			20,712			883					21,595
Foreign government			--			750			--					750
ABS			--			758			105					863
RMBS			--			702			--					702
CMBS			--			674			5					679
Redeemable preferred stock			--			16			--					16
Total fixed income securities			170			27,659			1,095					28,924
Equity securities			1,209			51			7					1,267
Short-term investments			92			807			--					899
Other investments: Free-standing derivatives			--			95			3		$	-7		91
Separate account assets			4,780			--			--			--		4,780
Other assets			--			--			1			--		1
Total recurring basis assets			6,251			28,612			1,106			-7		35,962
Non-recurring basis (1)			--			--			32			--		32
Total assets at fair value		$	6,251		$	28,612		$	1,138		$	-7	$	35,994
% of total assets at fair value			17.40%			79.50%			3.10%			--%		100.00%

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts		$	--		$	--		$	-331				$	-331
Other liabilities: Free-standing derivatives			--			-57			-8		$	7		-58
Total liabilities at fair value		$	--		$	-57		$	-339		$	7	$	-389
% of total liabilities at fair value			--%			14.70%			87.10%			-1.80%		100.00%

(1) Includes $32 million of limited partnership interests written-down to fair value in connection with recognizing other-than-temporary impairments.

The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2013.

($ in millions)			Quoted prices			Significant			Significant			Counterparty		Balance
			in active			other			unobservable			and cash		as of
			markets for			observable			inputs			collateral		December 31,
			identical assets			inputs			(Level 3)			netting		2013
			(Level 1)			(Level 2)
Assets
Fixed income securities:
U.S. government and agencies		$	145		$	621		$	--				$	766
Municipal			--			3,185			119					3,304
Corporate			--			20,308			1,008					21,316
Foreign government			--			792			--					792
ABS			--			895			112					1,007
RMBS			--			790			--					790
CMBS			--			763			1					764
Redeemable preferred stock			--			16			1					17
Total fixed income securities			145			27,370			1,241					28,756
Equity securities			593			51			6					650
Short-term investments			129			461			--					590
Other investments: Free-standing derivatives			--			268			9		$	-11		266
Separate account assets			5,039			--			--					5,039
Assets held for sale			1,854			9,812			362					12,028
Total recurring basis assets			7,760			37,962			1,618			-11		47,329
Non-recurring basis (1)			--			--			17					17
Total assets at fair value		$	7,760		$	37,962		$	1,635		$	-11	$	47,346
% of total assets at fair value			16.40%			80.20%			3.40%			--%		100.00%

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts		$	--		$	--		$	-307				$	-307
Other liabilities: Free-standing derivatives			--			-185			-14		$	7		-192
Liabilities held for sale			--			--			-246					-246
Total recurring basis liabilities			--			-185			-567			7		-745
Non-recurring basis (2)			--			--			-11,088					-11,088
Total liabilities at fair value		$	--		$	-185		$	-11,655		$	7	$	-11,833
% of total liabilities at fair value			--%			1.60%			98.50%			-0.10%		100.00%



(1) Includes $8 million of mortgage loans and $9 million of limited partnership interests written-down to fair value in connection with recognizing other-than-temporary impairments.
(2) Relates to LBL business held for sale (see Note 2). The total fair value measurement includes $15,593 million of assets held for sale and $(14,899) million of liabilities held for sale, less $12,028 million of assets and $(246) million of liabilities measured at fair value on a recurring basis.

The following table summarizes quantitative information about the significant unobservable inputs used in Level 3 fair value measurements.

($ in millions)			Fair value		Valuation		Unobservable		Range		Weighted
($ in millions)			Fair value		technique		input		Range		average
June 30, 2014
Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options		$	-275		Stochastic cash flow model		Projected option cost		1.0 - 2.0%		1.76%

December 31, 2013
Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options		$	-247		Stochastic cash flow model		Projected option cost		1.0 - 2.0%		1.75%

Liabilities held for sale – Equity-indexed and forward starting options		$	-246		Stochastic cash flow model		Projected option cost		1.0 - 2.0%		1.91%

If the projected option cost increased (decreased), it would result in a higher (lower) liability fair value.

As of June 30, 2014 and December 31, 2013, Level 3 fair value measurements include $1.03 billion and $1.15 billion, respectively, of fixed income securities valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. As of December 31, 2013, Level 3 fair value measurements for assets held for sale include $319 million of fixed income securities valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. The Company does not develop the unobservable inputs used in measuring fair value; therefore, these are not included in the table above. However, an increase (decrease) in credit spreads for fixed income securities valued based on non-binding broker quotes would result in a lower (higher) fair value.

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the three months ended June 30, 2014.

($ in millions)				Total gains (losses)
($ in millions)				included in:
		Balance as of		Net		OCI		Transfers		Transfers
		March 31, 2014		income (1)				into		out of
								Level 3		Level 3
Assets
Fixed income securities:
Municipal	$	119	$	--	$	1	$	--	$	-17
Corporate		891		6		9		--		-1
ABS		122		--		1		--		-12
CMBS		5		--		--		--		--
Total fixed income securities		1,137		6		11		--		-30
Equity securities		6		--		--		--		--
Free-standing derivatives, net		-7		3		--		--		--
Other assets		--		1		--		--		--
Assets held for sale		347		--		--		--		--
Total recurring Level 3 assets	$	1,483	$	10	$	11	$	--	$	-30

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	-319	$	-12	$	--	$	--	$	--
Liabilities held for sale		-230		--		--		--		--
Total recurring Level 3 liabilities	$	-549	$	-12	$	--	$	--	$	--

		Sold in LBL		Purchases/		Sales		Settlements		Balance as of
		disposition		Issues (2)		Sales		Settlements		June 30, 2014
Assets
Fixed income securities:
Municipal	$	--	$	--	$	-1	$	--	$	102
Corporate		--		10		-3		-29		883
ABS		--		--		--		-6		105
CMBS		--		--		--		--		5
Total fixed income securities		--		10		-4		-35		1,095
Equity securities		--		1		--		--		7
Free-standing derivatives, net		--		--		--		-1		-5	-3
Other assets		--		--		--		--		1
Assets held for sale		-347		--		--		--		--
Total recurring Level 3 assets	$	-347	$	11	$	-4	$	-36	$	1,098

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	--	$	-2	$	--	$	2	$	-331
Liabilities held for sale		230		--		--		--		--
Total recurring Level 3 liabilities	$	230	$	-2	$	--	$	2	$	-331

(1) The effect to net income totals $(2) million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $5 million in realized capital gains and losses, $4 million in net investment income, $(10) million in interest credited to contractholder funds and $(1) million in contract benefits.
(2) Represents purchases for assets and issues for liabilities.
(3) Comprises $3 million of assets and $8 million of liabilities.

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the six months ended June 30, 2014.

($ in millions)				Total gains (losses)
($ in millions)				included in:
		Balance as of		Net		OCI		Transfers		Transfers
		December 31,		income (1)				into		out of
		2013						Level 3		Level 3
Assets
Fixed income securities:
Municipal	$	119	$	-1	$	3	$	--	$	-17
Corporate		1,008		11		9		--		-26
ABS		112		--		1		--		-12
CMBS		1		--		--		--		--
Redeemable preferred stock		1		--		--		--		--
Total fixed income securities		1,241		10		13		--		-55
Equity securities		6		--		--		--		--
Free-standing derivatives, net		-5		1		--		--		--
Other assets		--		1		--		--		--
Assets held for sale		362		-1		2		4		-2
Total recurring Level 3 assets	$	1,604	$	11	$	15	$	4	$	-57

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	-307	$	-14	$	--	$	--	$	--
Liabilities held for sale		-246		17		--		--		--
Total recurring Level 3 liabilities	$	-553	$	3	$	--	$	--	$	--

		Sold in LBL		Purchases/		Sales		Settlements		Balance as of
		disposition(3)		Issues		Sales		Settlements		June 30, 2014
Assets
Fixed income securities:
Municipal	$	--	$	--	$	-2	$	--	$	102
Corporate		--		12		-89		-42		883
ABS		--		11		--		-7		105
CMBS		4		--		--		--		5
Redeemable preferred stock		--		--		-1		--		--
Total fixed income securities		4		23		-92		-49		1,095
Equity securities		--		1		--		--		7
Free-standing derivatives, net		--		2		--		-3		-5	-2
Other assets		--		--		--		--		1
Assets held for sale		-351		--		-8		-6		--
Total recurring Level 3 assets	$	-347	$	26	$	-100	$	-58	$	1,098

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	--	$	-13	$	--	$	3	$	-331
Liabilities held for sale		230		-4		--		3		--
Total recurring Level 3 liabilities	$	230	$	-17	$	--	$	6	$	-331



(1) The effect to net income totals $14 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $8 million in realized capital gains and losses, $6 million in net investment income, $4 million in contract benefits and $(4) million in loss on disposition of operations.
(2) Comprises $3 million of assets and $8 million of liabilities.
(3) Includes transfers from held for sale that took place in first quarter 2014 of $4 million for CMBS and $(4) million for Assets held for sale.

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the three months ended June 30, 2013.

($ in millions)				Total gains (losses)
($ in millions)				included in:
		Balance as of		Net		OCI		Transfers		Transfers
		March 31, 2013		income (1)				into		out of
								Level 3		Level 3
Assets
Fixed income securities:
Municipal	$	251	$	--	$	-6	$	--	$	--
Corporate		1,363		8		-36		38		-43
ABS		211		-1		8		--		-16
CMBS		6		-1		--		--		--
Redeemable preferred stock		1		--		--		--		--
Total fixed income securities		1,832		6		-34		38		-59
Equity securities		7		--		--		--		--
Free-standing derivatives, net		-20		15		--		--		--
Other assets		1		--		--		--		--
Total recurring Level 3 assets	$	1,820	$	21	$	-34	$	38	$	-59

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	-567	$	57	$	--	$	--	$	--
Total recurring Level 3 liabilities	$	-567	$	57	$	--	$	--	$	--

		Purchases		Sales		Issues		Settlements		Balance as of
		Purchases		Sales		Issues		Settlements		June 30, 2013
Assets
Fixed income securities:
Municipal	$	--	$	-20	$	--	$	--	$	225
Corporate		21		-27		--		-69		1,255
ABS		--		--		--		-12		190
CMBS		--		--		--		--		5
Redeemable preferred stock		--		--		--		--		1
Total fixed income securities		21		-47		--		-81		1,676
Equity securities		--		-1		--		--		6
Free-standing derivatives, net		--		--		--		-2		-7	-2
Other assets		--		--		--		--		1
Total recurring Level 3 assets	$	21	$	-48	$	--	$	-83	$	1,676

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	--	$	--	$	-26	$	3	$	-533
Total recurring Level 3 liabilities	$	--	$	--	$	-26	$	3	$	-533



(1) The effect to net income totals $78 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $15 million in realized capital gains and losses, $4 million in net investment income, $39 million in interest credited to contractholder funds and $20 million in contract benefits.
(2) Comprises $6 million of assets and $13 million of liabilities.

The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis during the six months ended June 30, 2013.

($ in millions)				Total gains (losses)
($ in millions)				included in:
		Balance as of		Net		OCI		Transfers		Transfers
		December 31,		income (1)				into		out of
		2012						Level 3		Level 3
Assets
Fixed income securities:
Municipal	$	338	$	-12	$	20	$	--	$	--
Corporate		1,501		20		-38		63		-168
ABS		199		-1		15		17		-16
CMBS		21		-1		2		--		--
Redeemable preferred stock		1		--		--		--		--
Total fixed income securities		2,060		6		-1		80		-184
Equity securities		7		--		--		--		--
Free-standing derivatives, net		-27		22		--		--		--
Other assets		1		--		--		--		--
Total recurring Level 3 assets	$	2,041	$	28	$	-1	$	80	$	-184

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	-553	$	63	$	--	$	--	$	--
Total recurring Level 3 liabilities	$	-553	$	63	$	--	$	--	$	--

		Purchases		Sales		Issues		Settlements		Balance as of
		Purchases		Sales		Issues		Settlements		June 30, 2013
Assets
Fixed income securities:
Municipal	$	--	$	-121	$	--	$	--	$	225
Corporate		93		-136		--		-80		1,255
ABS		--		-8		--		-16		190
CMBS		--		-17		--		--		5
Redeemable preferred stock		--		--		--		--		1
Total fixed income securities		93		-282		--		-96		1,676
Equity securities		--		-1		--		--		6
Free-standing derivatives, net		1		--		--		-3		-7	-2
Other assets		--		--		--		--		1
Total recurring Level 3 assets	$	94	$	-283	$	--	$	-99	$	1,676

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	--	$	--	$	-50	$	7	$	-533
Total recurring Level 3 liabilities	$	--	$	--	$	-50	$	7	$	-533



(1) The effect to net income totals $91 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $17 million in realized capital gains and losses, $9 million in net investment income, $19 million in interest credited to contractholder funds and $46 million in contract benefits.
(2) Comprises $6 million of assets and $13 million of liabilities.

Transfers between level categorizations may occur due to changes in the availability of market observable inputs, which generally are caused by changes in market conditions such as liquidity, trading volume or bid-ask spreads. Transfers between level categorizations may also occur due to changes in the valuation source. For example, in situations where a fair value quote is not provided by the Company’s independent third-party valuation service provider and as a result the price is stale or has been replaced with a broker quote whose inputs have not been corroborated to be market observable, the security is transferred into Level 3. Transfers in and out of level categorizations are reported as having occurred at the beginning of the quarter in which the transfer occurred. Therefore, for all transfers into Level 3, all realized and changes in unrealized gains and losses in the quarter of transfer are reflected in the Level 3 rollforward table.

There were no transfers between Level 1 and Level 2 during the three months and six months ended June 30, 2014 or 2013.

Transfers into Level 3 during the three months and six months ended June 30, 2014 and 2013 included situations where a fair value quote was not provided by the Company’s independent third-party valuation service provider and as a result the price was stale or had been replaced with a broker quote where the inputs had not been corroborated to be market observable resulting in the security being classified as Level 3. Transfers out of Level 3 during the three months and six months ended June 30, 2014 and 2013 included situations where a broker quote was used in the prior period and a fair value quote became available from the Company’s independent third-party valuation service provider in the current period. A quote utilizing the new pricing source was not available as of the prior period, and any gains or losses related to the change in valuation source for individual securities were not significant.

The following table provides the change in unrealized gains and losses included in net income for Level 3 assets and liabilities held as of June 30.

($ in millions)		Three months ended				Six months ended
($ in millions)		June 30,				June 30,
		2014		2013		2014		2013
Assets
Fixed income securities:
Municipal	$	--	$	--	$	-1	$	-6
Corporate		4		4		7		7
ABS		--		-1		--		-1
CMBS		--		-1		--		-2
Total fixed income securities		4		2		6		-2
Free-standing derivatives, net		6		9		6		16
Other assets		1		--		1		--
Assets held for sale		--		--		-1		--
Total recurring Level 3 assets	$	11	$	11	$	12	$	14

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	-12	$	57	$	-14	$	63
Liabilities held for sale		--		--		17		--
Total recurring Level 3 liabilities	$	-12	$	57	$	3	$	63

The amounts in the table above represent the change in unrealized gains and losses included in net income for the period of time that the asset or liability was determined to be in Level 3. These gains and losses total $(1) million for the three months ended June 30, 2014 and are reported as follows: $4 million in realized capital gains and losses, $4 million in net investment income, $(10) million in interest credited to contractholder funds, $(1) million in contract benefits and $2 million in gain on disposition of operations. These gains and losses total $68 million for the three months ended June 30, 2013 and are reported as follows: $7 million in realized capital gains and losses, $4 million in net investment income, $37 million in interest credited to contractholder funds and $20 million in contract benefits. These gains and losses total $15 million for the six months ended June 30, 2014 and are reported as follows: $5 million in realized capital gains and losses, $6 million in net investment income and $4 million in contract benefits. These gains and losses total $77 million for the six months ended June 30, 2013 and are reported as follows: $8 million in realized capital gains and losses, $6 million in net investment income, $17 million in interest credited to contractholder funds and $46 million in contract benefits.

Presented below are the carrying values and fair value estimates of financial instruments not carried at fair value.

Financial assets

($ in millions)		June 30, 2014				December 31, 2013
		Carrying		Fair		Carrying		Fair
		value		value		value		value
Mortgage loans	$	3,684	$	3,909	$	4,173	$	4,300
Cost method limited partnerships		535		746		605		799
Agent loans		355		351		341		325
Bank loans		222		223		160		161
Notes due from related party		275		275		275		275
Assets held for sale		--		--		1,458		1,532

The fair value of mortgage loans, including those classified as assets held for sale, is based on discounted contractual cash flows or, if the loans are impaired due to credit reasons, the fair value of collateral less costs to sell. Risk adjusted discount rates are selected using current rates at which similar loans would be made to borrowers with similar characteristics, using similar types of properties as collateral. The fair value of cost method limited partnerships is determined using reported net asset values of the underlying funds. The fair value of agent loans, which are reported in other investments, is based on discounted cash flow calculations that use discount rates with a spread over U.S. Treasury rates. Assumptions used in developing estimated cash flows and discount rates consider the loan’s credit and liquidity risks. The fair value of bank loans, which are reported in other investments or assets held for sale, is based on broker quotes from brokers familiar with the loans and current market conditions. The fair value of notes due from related party, which are reported in other investments, is based on discounted cash flow calculations using current interest rates for instruments with comparable terms. The fair value measurements for mortgage loans, cost method limited partnerships, agent loans, bank loans, notes due from related party and assets held for sale are categorized as Level 3.

Financial liabilities

($ in millions)		June 30, 2014				December 31, 2013
		Carrying		Fair		Carrying		Fair
		value		value		value		value
Contractholder funds on investment contracts	$	14,707	$	15,414	$	15,542	$	16,198
Notes due to related parties		275		275		282		282
Liability for collateral		610		610		328		328
Liabilities held for sale		--		--		7,417		7,298

The fair value of contractholder funds on investment contracts, including those classified as liabilities held for sale, is based on the terms of the underlying contracts utilizing prevailing market rates for similar contracts adjusted for the Company’s own credit risk. Deferred annuities included in contractholder funds are valued using discounted cash flow models that incorporate market value margins, which are based on the cost of holding economic capital, and the Company’s own credit risk. Immediate annuities without life contingencies and fixed rate funding agreements are valued at the present value of future benefits using market implied interest rates which include the Company’s own credit risk. The fair value measurements for contractholder funds on investment contracts and liabilities held for sale are categorized as Level 3.

The fair value of notes due to related parties is based on discounted cash flow calculations using current interest rates for instruments with comparable terms and considers the Company’s own credit risk. The liability for collateral is valued at carrying value due to its short-term nature. The fair value measurements for liability for collateral are categorized as Level 2. The fair value measurements for notes due to related parties are categorized as Level 3.

Derivative_Financial_Instrumen

Derivative Financial Instruments	6 Months Ended
Derivative Financial Instruments	Jun. 30, 2014
Derivative Financial Instruments	'
Derivative Financial Instruments	'
	6. Derivative Financial Instruments

	The Company uses derivatives to manage risks with certain assets and liabilities arising from the potential adverse impacts from changes in risk-free interest rates, changes in equity market valuations, increases in credit spreads and foreign currency fluctuations, and for asset replication. The Company does not use derivatives for speculative purposes.

	Asset-liability management is a risk management strategy that is principally employed to balance the respective interest-rate sensitivities of the Company’s assets and liabilities. Depending upon the attributes of the assets acquired and liabilities issued, derivative instruments such as interest rate swaps, caps, swaptions and futures are utilized to change the interest rate characteristics of existing assets and liabilities to ensure the relationship is maintained within specified ranges and to reduce exposure to rising or falling interest rates. The Company uses financial futures and interest rate swaps to hedge anticipated asset purchases and liability issuances and futures and options for hedging the equity exposure contained in its equity indexed life and annuity product contracts that offer equity returns to contractholders. In addition, the Company uses interest rate swaps to hedge interest rate risk inherent in funding agreements. The Company uses foreign currency swaps and forwards primarily to reduce the foreign currency risk associated with issuing foreign currency denominated funding agreements and holding foreign currency denominated investments. Credit default swaps are typically used to mitigate the credit risk within the Company’s fixed income portfolio.

	The Company may also use derivatives to manage the risk associated with corporate actions, including the sale of a business. During 2014 and December 2013, swaptions were utilized to hedge the expected proceeds from the disposition of LBL.

	Asset replication refers to the “synthetic” creation of assets through the use of derivatives and primarily investment grade host bonds to replicate securities that are either unavailable in the cash markets or more economical to acquire in synthetic form. The Company replicates fixed income securities using a combination of a credit default swap and one or more highly rated fixed income securities to synthetically replicate the economic characteristics of one or more cash market securities.

	The Company also has derivatives embedded in non-derivative host contracts that are required to be separated from the host contracts and accounted for at fair value with changes in fair value of embedded derivatives reported in net income. The Company’s primary embedded derivatives are equity options in life and annuity product contracts, which provide equity returns to contractholders; equity-indexed notes containing equity call options, which provide a coupon payout that is determined using one or more equity-based indices; credit default swaps in synthetic collateralized debt obligations, which provide enhanced coupon rates as a result of selling credit protection; and conversion options in fixed income securities, which provide the Company with the right to convert the instrument into a predetermined number of shares of common stock.

	When derivatives meet specific criteria, they may be designated as accounting hedges and accounted for as fair value, cash flow, foreign currency fair value or foreign currency cash flow hedges. The Company designates certain of its interest rate and foreign currency swap contracts and certain investment risk transfer reinsurance agreements as fair value hedges when the hedging instrument is highly effective in offsetting the risk of changes in the fair value of the hedged item. The Company designates certain of its foreign currency swap contracts as cash flow hedges when the hedging instrument is highly effective in offsetting the exposure of variations in cash flows for the hedged risk that could affect net income. Amounts are reclassified to net investment income or realized capital gains and losses as the hedged item affects net income.

	The notional amounts specified in the contracts are used to calculate the exchange of contractual payments under the agreements and are generally not representative of the potential for gain or loss on these agreements. However, the notional amounts specified in credit default swaps where the Company has sold credit protection represent the maximum amount of potential loss, assuming no recoveries.

	Fair value, which is equal to the carrying value, is the estimated amount that the Company would receive or pay to terminate the derivative contracts at the reporting date. The carrying value amounts for OTC derivatives are further adjusted for the effects, if any, of enforceable master netting agreements and are presented on a net basis, by counterparty agreement, in the Condensed Consolidated Statements of Financial Position. For certain exchange traded and cleared derivatives, margin deposits are required as well as daily cash settlements of margin accounts. As of June 30, 2014, the Company pledged $26 million of cash and securities in the form of margin deposits.

	For those derivatives which qualify for fair value hedge accounting, net income includes the changes in the fair value of both the derivative instrument and the hedged risk, and therefore reflects any hedging ineffectiveness. For cash flow hedges, gains and losses are amortized from accumulated other comprehensive income and are reported in net income in the same period the forecasted transactions being hedged impact net income.

	Non-hedge accounting is generally used for “portfolio” level hedging strategies where the terms of the individual hedged items do not meet the strict homogeneity requirements to permit the application of hedge accounting. For non-hedge derivatives, net income includes changes in fair value and accrued periodic settlements, when applicable. With the exception of non-hedge derivatives used for asset replication and non-hedge embedded derivatives, all of the Company’s derivatives are evaluated for their ongoing effectiveness as either accounting hedge or non-hedge derivative financial instruments on at least a quarterly basis.

	The following table provides a summary of the volume and fair value positions of derivative instruments as well as their reporting location in the Condensed Consolidated Statement of Financial Position as of June 30, 2014.

	($ in millions, except number of contracts)				Volume (1)
			Balance sheet location		Notional		Number		Fair		Gross		Gross
					amount		of		value,		asset		liability
							contracts		net
	Asset derivatives
	Derivatives designated as accounting hedging instruments
	Foreign currency swap agreements		Other investments	$	16		n/a	$	--	$	--	$	--

	Derivatives not designated as accounting hedging instruments
	Interest rate contracts
	Interest rate cap agreements		Other investments		79		n/a		1		1		--
	Equity and index contracts
	Options		Other investments		--		3,721		88		88		--
	Financial futures contracts		Other assets		--		368		--		--		--
	Foreign currency contracts
	Foreign currency forwards		Other investments		9		n/a		--		--		--
	Credit default contracts
	Credit default swaps – buying protection		Other investments		20		n/a		--		--		--
	Credit default swaps – selling protection		Other investments		85		n/a		2		2		--
	Other contracts
	Other contracts		Other assets		4		n/a		1		1		--
	Subtotal				197		4,089		92		92		--
	Total asset derivatives			$	213		4,089	$	92	$	92	$	--

	Liability derivatives
	Derivatives designated as accounting hedging instruments
	Foreign currency swap agreements		Other liabilities & accrued expenses	$	119		n/a	$	-15	$	--	$	-15

	Derivatives not designated as accounting hedging instruments
	Interest rate contracts
	Interest rate swap agreements		Other liabilities & accrued expenses		85		n/a		5		5		--
	Interest rate cap agreements		Other liabilities & accrued expenses		136		n/a		2		2		--
	Equity and index contracts
	Options		Other liabilities & accrued expenses		--		3,571		-40		--		-40
	Foreign currency contracts
	Foreign currency forwards		Other liabilities & accrued expenses		46		n/a		--		--		--
	Embedded derivative financial instruments
	Guaranteed accumulation benefits		Contractholder funds		674		n/a		-38		--		-38
	Guaranteed withdrawal benefits		Contractholder funds		473		n/a		-13		--		-13
Equity-indexed and forward starting options in life and annuity product contracts		Contractholder funds		1,770		n/a		-275		--		-275
Other embedded derivative financial instruments		Contractholder funds		85		n/a		-5		--		-5
Credit default contracts
Credit default swaps – buying protection		Other liabilities & accrued expenses		124		n/a		-2		--		-2
Credit default swaps – selling protection		Other liabilities & accrued expenses		100		n/a		-8		--		-8
Subtotal				3,493		3,571		-374		7		-381
Total liability derivatives				3,612		3,571		-389	$	7	$	-396

Total derivatives			$	3,825		7,660	$	-297

(1) Volume for OTC derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a =ot applicable)

The following table provides a summary of the volume and fair value positions of derivative instruments as well as their reporting location in the Consolidated Statement of Financial Position as of December 31, 2013.

($ in millions, except number of contracts)				Volume (1)
		Balance sheet location		Notional		Number		Fair		Gross		Gross
				amount		of		value,		asset		liability
						contracts		net
Asset derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements		Other investments	$	16		n/a	$	1	$	1	$	--

Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate swaption agreements		Other investments		1,420		n/a		--		--		--
Interest rate cap agreements		Other investments		61		n/a		2		2		--
Equity and index contracts
Options and warrants (2)		Other investments		3		10,035		261		261		--
Financial futures contracts		Other assets		--		627		--		--		--
Foreign currency contracts
Foreign currency forwards		Other investments		47		n/a		--		--		--
Embedded derivative financial instruments
Credit default swaps		Fixed income securities		12		n/a		-12		--		-12
Credit default contracts
Credit default swaps – buying protection		Other investments		1		n/a		--		--		--
Credit default swaps – selling protection		Other investments		85		n/a		2		2		--
Other contracts
Other contracts		Other assets		4		n/a		--		--		--
Subtotal				1,633		10,662		253		265		-12
Total asset derivatives			$	1,649		10,662	$	254	$	266	$	-12

Liability derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements		Other liabilities & accrued expenses	$	132		n/a	$	-15	$	--	$	-15

Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate swap agreements		Other liabilities & accrued expenses		85		n/a		4		4		--
Interest rate swaption agreements		Other liabilities & accrued expenses		4,570		n/a		1		1		--
Interest rate cap agreements		Other liabilities & accrued expenses		262		n/a		4		4		--
Equity and index contracts
Options		Other liabilities & accrued expenses		55		10,035		-165		2		-167
Embedded derivative financial instruments
Guaranteed accumulation benefits		Contractholder funds		738		n/a		-43		--		-43
Guaranteed withdrawal benefits		Contractholder funds		506		n/a		-13		--		-13
Equity-indexed and forward starting options in life and annuity product contracts		Contractholder funds		1,693		n/a		-247		--		-247
		Liabilities held for sale		2,363		n/a		-246		--		-246
Other embedded derivative financial instruments		Contractholder funds		85		n/a		-4		--		-4
Credit default contracts
Credit default swaps – buying protection		Other liabilities & accrued expenses		171		n/a		-2		--		-2
Credit default swaps – selling protection		Other liabilities & accrued expenses		100		n/a		-15		--		-15
Subtotal				10,628		10,035		-726		11		-737
Total liability derivatives				10,760		10,035		-741	$	11	$	-752

Total derivatives			$	12,409		20,697	$	-487


(1) Volume for OTC derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a =ot applicable)
(2) In addition to the number of contracts presented in the table, the Company held 837,100 stock warrants. Stock warrants can be converted to cash upon sale of those instruments or exercised for shares of common stock.

The following table provides gross and net amounts for the Company’s OTC derivatives, all of which are subject to enforceable master netting agreements.

($ in millions)				Offsets
		Gross		Counter-		Cash		Net		Securities		Net
		amount		party		collateral		amount on		collateral		amount
				netting		(received)		balance		(received)
						pledged		sheet		pledged
June 30, 2014
Asset derivatives	$	9	$	-7	$	--	$	2	$	--	$	2
Liability derivatives		-26		7		--		-19		16		-3

December 31, 2013
Asset derivatives	$	14	$	-11	$	--	$	3	$	-3	$	--
Liability derivatives		-33		11		-4		-26		22		-4

The following table provides a summary of the impacts of the Company’s foreign currency contracts in cash flow hedging relationships. Amortization of net losses from accumulated other comprehensive income related to cash flow hedges is expected to be $2 million during the next twelve months. There was no hedge ineffectiveness reported in realized gains and losses for the three months and six months ended June 30, 2014 or 2013.

($ in millions)		Three months ended				Six months ended
($ in millions)		June 30,				June 30,
		2014		2013		2014		2013
(Loss) gain recognized in OCI on derivatives during the period	$	-2	$	6	$	-4	$	9
Loss recognized in OCI on derivatives during the term of the hedging relationship		-15		-7		-15		-7
Loss reclassified from AOCI into income (net investment income)		--		-1		--		-1
Loss reclassified from AOCI into income (realized capital gains and losses)		-2		--		-2		--

The following tables present gains and losses from valuation, settlements and hedge ineffectiveness reported on derivatives not designated as accounting hedging instruments in the Condensed Consolidated Statements of Operations and Comprehensive Income. For the three months and six months ended June 30, 2014 and 2013, the Company had no derivatives used in fair value hedging relationships.

($ in millions)		Realized		Contract		Interest		Loss on		Total gain (loss)
		capital		benefits		credited to		disposition		recognized in
		gains and				contractholder		of		net income on
		losses				funds		operations		derivatives
Three months ended June 30, 2014
Interest rate contracts	$	-1	$	--	$	--	$	--	$	-1
Equity and index contracts		--		--		12		--		12
Embedded derivative financial instruments		--		-1		-10		--		-11
Credit default contracts		4		--		--		--		4
Other contracts		--		--		1		--		1
Total	$	3	$	-1	$	3	$	--	$	5

Six months ended June 30, 2014
Interest rate contracts	$	-2	$	--	$	--	$	-4	$	-6
Equity and index contracts		--		--		21		--		21
Embedded derivative financial instruments		--		4		-11		--		-7
Credit default contracts		7		--		--		--		7
Other contracts		--		--		1		--		1
Total	$	5	$	4	$	11	$	-4	$	16

($ in millions)		Net		Realized		Contract		Interest		Total gain (loss)
		investment		capital		benefits		credited to		recognized in
		income		gains and				contractholder		net income on
				losses				funds		derivatives
Three months ended June 30, 2013
Interest rate contracts	$	--	$	3	$	--	$	--	$	3
Equity and index contracts		--		--		--		9		9
Embedded derivative financial instruments		--		--		20		14		34
Foreign currency contracts		--		--		--		--		--
Credit default contracts		--		9		--		--		9
Other contracts				--		--		-3		-3
Total	$	--	$	12	$	20	$	20	$	52

Six months ended June 30, 2013
Interest rate contracts	$	--	$	3	$	--	$	--	$	3
Equity and index contracts		--		--		--		47		47
Embedded derivative financial instruments		--		-1		46		-26		19
Foreign currency contracts		--		1		--		--		1
Credit default contracts		--		16		--		--		16
Other contracts				--		--		-3		-3
Total	$	--	$	19	$	46	$	18	$	83

The Company manages its exposure to credit risk by utilizing highly rated counterparties, establishing risk control limits, executing legally enforceable master netting agreements (“MNAs”) and obtaining collateral where appropriate. The Company uses MNAs for OTC derivative transactions that permit either party to net payments due for transactions and collateral is either pledged or obtained when certain predetermined exposure limits are exceeded. As of June 30, 2014, counterparties pledged $2 million in cash and securities to the Company, and the Company pledged $18 million in securities to counterparties which includes $16 million of collateral posted under MNAs for contracts containing credit-risk-contingent provisions that are in a liability position and $2 million of collateral posted under MNAs for contracts without credit-risk-contingent liabilities. The Company has not incurred any losses on derivative financial instruments due to counterparty nonperformance. Other derivatives, including futures and certain option contracts, are traded on organized exchanges which require margin deposits and guarantee the execution of trades, thereby mitigating any potential credit risk.

Counterparty credit exposure represents the Company’s potential loss if all of the counterparties concurrently fail to perform under the contractual terms of the contracts and all collateral, if any, becomes worthless. This exposure is measured by the fair value of OTC derivative contracts with a positive fair value at the reporting date reduced by the effect, if any, of legally enforceable master netting agreements.

The following table summarizes the counterparty credit exposure by counterparty credit rating as it relates to the Company’s OTC derivatives.

($ in millions)		June 30, 2014								December 31, 2013
Rating (1)		Number of		Notional		Credit		Exposure,		Number of		Notional		Credit		Exposure,
		counter-		amount (2)		exposure (2)		net of		counter-		amount (2)		exposure (2)		net of
		parties						collateral (2)		parties						collateral (2)
A+		1	$	19	$	1	$	--		1	$	22	$	1	$	1
A		4		45		1		1		4		1,523		2		--
A-		--		--		--		--		1		24		1		--
BBB+		1		3		--		--		1		3		--		--
BBB		1		62		--		--		1		76		1		--
Total		7	$	129	$	2	$	1		8	$	1,648	$	5	$	1

(1) Rating is the lower of S&P or Moody’s ratings.
(2) Only OTC derivatives with a net positive fair value are included for each counterparty.

Market risk is the risk that the Company will incur losses due to adverse changes in market rates and prices. Market risk exists for all of the derivative financial instruments the Company currently holds, as these instruments may become less valuable due to adverse changes in market conditions. To limit this risk, the Company’s senior management has established risk control limits. In addition, changes in fair value of the derivative financial instruments that the Company uses for risk management purposes are generally offset by the change in the fair value or cash flows of the hedged risk component of the related assets, liabilities or forecasted transactions.

Certain of the Company’s derivative instruments contain credit-risk-contingent termination events, cross-default provisions and credit support annex agreements. Credit-risk-contingent termination events allow the counterparties to terminate the derivative on certain dates if ALIC’s or Allstate Life Insurance Company of New York’s (“ALNY”) financial strength credit ratings by Moody’s or S&P fall below a certain level or in the event ALIC or ALNY are no longer rated by either Moody’s or S&P. Credit-risk-contingent cross-default provisions allow the counterparties to terminate the derivative instruments if the Company defaults by pre-determined threshold amounts on certain debt instruments. Credit-risk-contingent credit support annex agreements specify the amount of collateral the Company must post to counterparties based on ALIC’s or ALNY’s financial strength credit ratings by Moody’s or S&P, or in the event ALIC or ALNY are no longer rated by either Moody’s or S&P.

The following summarizes the fair value of derivative instruments with termination, cross-default or collateral credit-risk-contingent features that are in a liability position, as well as the fair value of assets and collateral that are netted against the liability in accordance with provisions within legally enforceable MNAs.

($ in millions)		June 30,		December 31,
($ in millions)		2014		2013
Gross liability fair value of contracts containing credit-risk-contingent features	$	26	$	25
Gross asset fair value of contracts containing credit-risk-contingent features and subject to MNAs		-7		-9
Collateral posted under MNAs for contracts containing credit-risk-contingent features		-16		-14
Maximum amount of additional exposure for contracts with credit-risk-contingent features if all features were triggered concurrently	$	3	$	2

Credit derivatives - selling protection

Free-standing credit default swaps (“CDS”) are utilized for selling credit protection against a specified credit event. A credit default swap is a derivative instrument, representing an agreement between two parties to exchange the credit risk of a specified entity (or a group of entities), or an index based on the credit risk of a group of entities (all commonly referred to as the “reference entity” or a portfolio of “reference entities”), in return for a periodic premium. In selling protection, CDS are used to replicate fixed income securities and to complement the cash market when credit exposure to certain issuers is not available or when the derivative alternative is less expensive than the cash market alternative. CDS typically have a five-year term.

The following table shows the CDS notional amounts by credit rating and fair value of protection sold.

($ in millions)		Notional amount
		AA		A		BBB		BB and		Total		Fair
		AA		A		BBB		lower		Total		value
June 30, 2014
Single name
Corporate debt	$	--	$	5	$	--	$	--	$	5	$	--
First-to-default Basket
Municipal		--		100		--		--		100		-8
Index
Corporate debt		1		21		53		5		80		2
Total	$	1	$	126	$	53	$	5	$	185	$	-6

December 31, 2013
Single name
Corporate debt	$	--	$	5	$	--	$	--	$	5	$	--
First-to-default Basket
Municipal		--		100		--		--		100		-15
Index
Corporate debt		1		20		55		4		80		2
Total	$	1	$	125	$	55	$	4	$	185	$	-13

In selling protection with CDS, the Company sells credit protection on an identified single name, a basket of names in a first-to-default (“FTD”) structure or credit derivative index (“CDX”) that is generally investment grade, and in return receives periodic premiums through expiration or termination of the agreement. With single name CDS, this premium or credit spread generally corresponds to the difference between the yield on the reference entity’s public fixed maturity cash instruments and swap rates at the time the agreement is executed. With a FTD basket, because of the additional credit risk inherent in a basket of named reference entities, the premium generally corresponds to a high proportion of the sum of the credit spreads of the names in the basket and the correlation between the names. CDX is utilized to take a position on multiple (generally 125) reference entities. Credit events are typically defined as bankruptcy, failure to pay, or restructuring, depending on the nature of the reference entities. If a credit event occurs, the Company settles with the counterparty, either through physical settlement or cash settlement. In a physical settlement, a reference asset is delivered by the buyer of protection to the Company, in exchange for cash payment at par, whereas in a cash settlement, the Company pays the difference between par and the prescribed value of the reference asset. When a credit event occurs in a single name or FTD basket (for FTD, the first credit event occurring for any one name in the basket), the contract terminates at the time of settlement. For CDX, the reference entity’s name incurring the credit event is removed from the index while the contract continues until expiration. The maximum payout on a CDS is the contract notional amount. A physical settlement may afford the Company with recovery rights as the new owner of the asset.

The Company monitors risk associated with credit derivatives through individual name credit limits at both a credit derivative and a combined cash instrument/credit derivative level. The ratings of individual names for which protection has been sold are also monitored.

In addition to the CDS described above, the Company’s synthetic collateralized debt obligations contain embedded credit default swaps which sell protection on a basket of reference entities. The synthetic collateralized debt obligations are fully funded; therefore, the Company is not obligated to contribute additional funds when credit events occur related to the reference entities named in the embedded credit default swaps. The Company’s maximum amount at risk equals the amount of its aggregate initial investment in the synthetic collateralized debt obligations.

Reinsurance

Reinsurance	6 Months Ended
Reinsurance	Jun. 30, 2014
Reinsurance	'
Reinsurance	'
	7. Reinsurance

	The effects of reinsurance on premiums and contract charges are as follows:

	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Direct	$	187	$	520	$	708	$	1,035
	Assumed
	Affiliate		32		31		65		61
	Non-affiliate		195		17		211		34
	Ceded-non-affiliate		-78		-158		-225		-311
	Premiums and contract charges, net of reinsurance	$	336	$	410	$	759	$	819

	The effects of reinsurance on contract benefits are as follows:

	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Direct	$	253	$	441	$	746	$	871
	Assumed
	Affiliate		23		18		46		40
	Non-affiliate		129		12		142		25
	Ceded-non-affiliate		-71		-75		-189		-159
	Contract benefits, net of reinsurance	$	334	$	396	$	745	$	777

	The effects of reinsurance on interest credited to contractholder funds are as follows:

	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Direct	$	191	$	302	$	489	$	637
	Assumed
	Affiliate		2		3		4		5
	Non-affiliate		20		8		27		15
	Ceded-non-affiliate		-8		-9		-15		-14
	Interest credited to contractholder funds, net of reinsurance	$	205	$	304	$	505	$	643

Guarantees_and_Contingent_Liab

Guarantees and Contingent Liabilities	6 Months Ended
Guarantees and Contingent Liabilities	Jun. 30, 2014
Guarantees and Contingent Liabilities	'
Guarantees and Contingent Liabilities	'
	8. Guarantees and Contingent Liabilities

	Guarantees

	The Company owns certain fixed income securities that obligate the Company to exchange credit risk or to forfeit principal due, depending on the nature or occurrence of specified credit events for the reference entities. In the event all such specified credit events were to occur, the Company’s maximum amount at risk on these fixed income securities, as measured by the amount of the aggregate initial investment, was $4 million as of June 30, 2014. The obligations associated with these fixed income securities expire at various dates on or before March 11, 2018.

	Related to the sale of LBL on April 1, 2014, the Company has agreed to indemnify Resolution Life Holdings, Inc. related to representations, warranties and covenants of the Company, subject to certain contractual limitations as to the Company’s maximum obligation. The representations and warranties made by the Company will expire by March 31, 2015, except for those pertaining to certain tax items and certain liabilities specifically excluded from the transaction. Management does not believe these indemnification provisions will have a material effect on results of operations, cash flows or financial position of the Company.

	Related to the disposal through reinsurance of substantially all of the Company’s variable annuity business to Prudential in 2006, the Company and the Corporation have agreed to indemnify Prudential for certain pre-closing contingent liabilities (including extra-contractual liabilities of the Company and liabilities specifically excluded from the transaction) that the Company has agreed to retain. In addition, the Company and the Corporation will each indemnify Prudential for certain post-closing liabilities that may arise from the acts of the Company and its agents, including certain liabilities arising from the Company’s provision of transition services. The reinsurance agreements contain no limitations or indemnifications with regard to insurance risk transfer, and transferred all of the future risks and responsibilities for performance on the underlying variable annuity contracts to Prudential, including those related to benefit guarantees. Management does not believe this agreement will have a material effect on results of operations, cash flows or financial position of the Company.

	In the normal course of business, the Company provides standard indemnifications to contractual counterparties in connection with numerous transactions, including acquisitions and divestitures. The types of indemnifications typically provided include indemnifications for breaches of representations and warranties, taxes and certain other liabilities, such as third party lawsuits. The indemnification clauses are often standard contractual terms and are entered into in the normal course of business based on an assessment that the risk of loss would be remote. The terms of the indemnifications vary in duration and nature. In many cases, the maximum obligation is not explicitly stated and the contingencies triggering the obligation to indemnify have not occurred and are not expected to occur. Consequently, the maximum amount of the obligation under such indemnifications is not determinable. Historically, the Company has not made any material payments pursuant to these obligations.

	The aggregate liability balance related to all guarantees was not material as of June 30, 2014.

	Regulation and Compliance

	The Company is subject to changing social, economic and regulatory conditions. From time to time, regulatory authorities or legislative bodies seek to impose additional regulations regarding agent and broker compensation, regulate the nature of and amount of investments, and otherwise expand overall regulation of insurance products and the insurance industry. The Company has established procedures and policies to facilitate compliance with laws and regulations, to foster prudent business operations, and to support financial reporting. The Company routinely reviews its practices to validate compliance with laws and regulations and with internal procedures and policies. As a result of these reviews, from time to time the Company may decide to modify some of its procedures and policies. Such modifications, and the reviews that led to them, may be accompanied by payments being made and costs being incurred. The ultimate changes and eventual effects of these actions on the Company’s business, if any, are uncertain.

	The Company is currently being examined by certain states for compliance with unclaimed property laws. It is possible that this examination may result in additional payments of abandoned funds to states and to changes in the Company’s practices and procedures for the identification of escheatable funds, which could impact benefit payments and reserves, among other consequences; however, it is not likely to have a material effect on the condensed consolidated financial statements of the Company.

Other_Comprehensive_Income

Other Comprehensive Income	6 Months Ended
Other Comprehensive Income	Jun. 30, 2014
Other Comprehensive Income	'
Other Comprehensive Income	'
	9. Other Comprehensive Income

	The components of other comprehensive income (loss) on a pre-tax and after-tax basis are as follows:

	($ in millions)		Three months ended June 30,
			2014						2013
			Pre-		Tax		After-		Pre-		Tax		After-
			tax		Tax		tax		tax		Tax		tax
	Unrealized net holding gains and losses arising during the period, net of related offsets	$	-16	$	6	$	-10	$	-807	$	282	$	-525
	Less: reclassification adjustment of realized capital gains and losses		-10		4		-6		57		-20		37
	Unrealized net capital gains and losses		-6		2		-4		-864		302		-562
	Unrealized foreign currency translation adjustments		--		--		--		-2		1		-1
	Other comprehensive income (loss)	$	-6	$	2	$	-4	$	-866	$	303	$	-563
	Net income						132						150
	Comprehensive income (loss)					$	128					$	-413

			Six months ended June 30,
			2014						2013
			Pre-		Tax		After-		Pre-		Tax		After-
			tax		Tax		tax		tax		Tax		tax
	Unrealized net holding gains and losses arising during the period, net of related offsets	$	474	$	-167	$	307	$	-792	$	277	$	-515
	Less: reclassification adjustment of realized capital gains and losses		-21		7		-14		33		-12		21
	Unrealized net capital gains and losses		495		-174		321		-825		289		-536
	Unrealized foreign currency translation adjustments		2		-1		1		--		--		--
	Other comprehensive income (loss)	$	497	$	-175	$	322	$	-825	$	289	$	-536
	Net income						259						259
	Comprehensive income (loss)					$	581					$	-277

General_Tables

General (Tables)	6 Months Ended
General (Tables)	Jun. 30, 2014
General	'
Summary of premiums and contract charges by product	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Premiums
	Traditional life insurance	$	122	$	116	$	245	$	228
	Immediate annuities with life contingencies		--		9		5		16
	Accident and health insurance		21		25		49		51
	Total premiums		143		150		299		295

	Contract charges
	Interest-sensitive life insurance		189		256		450		517
	Fixed annuities		4		4		10		7
	Total contract charges		193		260		460		524
	Total premiums and contract charges	$	336	$	410	$	759	$	819

Disposition_Tables

Disposition (Tables)	6 Months Ended
Disposition (Tables)	Jun. 30, 2014
Disposition	'
Summary of assets and liabilities classified as held for sale	'
	The following table summarizes the assets and liabilities classified as held for sale as of December 31, 2013.

	($ in millions)
	Assets
	Investments
	Fixed income securities	$	10,167
	Mortgage loans		1,367
	Short-term investments		160
	Policy loans		198
	Other investments		91
	Total investments		11,983
	Cash		--
	Deferred policy acquisition costs		743
	Reinsurance recoverables, net		1,660
	Accrued investment income		109
	Other assets		79
	Separate Accounts		1,701
	Assets held for sale		16,275
	Less: Loss accrual		-682
	Total assets held for sale	$	15,593
	Liabilities
	Reserve for life-contingent contract benefits	$	1,894
	Contractholder funds		10,945
	Unearned premiums		12
	Deferred income taxes		151
	Other liabilities and accrued expenses		196
	Separate Accounts		1,701
	Total liabilities held for sale	$	14,899

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information (Tables)	6 Months Ended
Supplemental Cash Flow Information (Tables)	Jun. 30, 2014
Supplemental Cash Flow Information	'
Schedule of supplemental cash flow information from collateralized securities received	'


	($ in millions)		Six months ended
	($ in millions)		June 30,
			2014		2013
	Net change in proceeds managed
	Net change in short-term investments	$	-282	$	115
	Operating cash flow (used) provided	$	-282	$	115

	Net change in liabilities
	Liabilities for collateral, beginning of period	$	-328	$	-561
	Liabilities for collateral, end of period		-610		-446
	Operating cash flow provided (used)	$	282	$	-115

Investments_Tables

Investments (Tables)	6 Months Ended
Investments (Tables)	Jun. 30, 2014
Investments	'
Schedule for fixed income securities at amortized cost, gross unrealized gains and losses and fair value	'


	($ in millions)		Amortized		Gross unrealized				Fair
			cost		Gains		Losses		value
	June 30, 2014
	U.S. government and agencies	$	712	$	102	$	--	$	814
	Municipal		3,099		419		-13		3,505
	Corporate		19,911		1,761		-77		21,595
	Foreign government		662		89		-1		750
	Asset-backed securities (“ABS”)		862		26		-25		863
	Residential mortgage-backed securities (“RMBS”)		652		57		-7		702
	Commercial mortgage-backed securities (“CMBS”)		626		56		-3		679
	Redeemable preferred stock		13		3		--		16
	Total fixed income securities	$	26,537	$	2,513	$	-126	$	28,924

	December 31, 2013
	U.S. government and agencies	$	678	$	90	$	-2	$	766
	Municipal		3,135		231		-62		3,304
	Corporate		20,397		1,214		-295		21,316
	Foreign government		715		83		-6		792
	ABS		1,011		30		-34		1,007
	RMBS		752		50		-12		790
	CMBS		724		47		-7		764
	Redeemable preferred stock		15		2		--		17
	Total fixed income securities	$	27,427	$	1,747	$	-418	$	28,756

Schedule for fixed income securities based on contractual maturities	'
	The scheduled maturities for fixed income securities are as follows as of June 30, 2014:

	($ in millions)		Amortized		Fair
	($ in millions)		cost		value
	Due in one year or less	$	1,362	$	1,388
	Due after one year through five years		5,066		5,529
	Due after five years through ten years		10,477		11,203
	Due after ten years		7,492		8,560
			24,397		26,680
	ABS, RMBS and CMBS		2,140		2,244
	Total	$	26,537	$	28,924

Schedule of net investment income	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Fixed income securities	$	356	$	494	$	830	$	990
	Mortgage loans		65		87		140		178
	Equity securities		6		3		10		5
	Limited partnership interests		91		37		158		67
	Short-term investments		1		--		1		1
	Policy loans		9		12		20		24
	Other		13		16		28		32
	Investment income, before expense		541		649		1,187		1,297
	Investment expense		-16		-30		-36		-57
	Net investment income	$	525	$	619	$	1,151	$	1,240

Schedule of realized capital gains and losses by asset type	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Fixed income securities	$	5	$	24	$	--	$	6
	Mortgage loans		-2		-6		1		25
	Equity securities		14		31		16		32
	Limited partnership interests		-28		-3		-33		-3
	Derivatives		1		12		3		19
	Other		--		--		3		-2
	Realized capital gains and losses	$	-10	$	58	$	-10	$	77

Schedule of realized capital gains and losses by transaction type	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Impairment write-downs	$	--	$	-16	$	-4	$	-18
	Change in intent write-downs		-14		-1		-19		-8
	Net other-than-temporary impairment losses recognized in earnings		-14		-17		-23		-26
	Sales		1		63		8		84
	Valuation and settlements of derivative instruments		3		12		5		19
	Realized capital gains and losses	$	-10	$	58	$	-10	$	77

Schedule of other-than-temporary impairment losses by asset type	'


	($ in millions)		Three months ended						Six months ended
	($ in millions)		June 30, 2014						June 30, 2014
			Gross		Included		Net		Gross		Included		Net
			Gross		in OCI		Net		Gross		in OCI		Net
	Fixed income securities:
	Municipal	$	--	$	--	$	--	$	-1	$	--	$	-1
	ABS		-1		--		-1		-1		--		-1
	RMBS		3		--		3		3		-1		2
	Total fixed income securities		2		--		2		1		-1		--
	Mortgage loans		--		--		--		4		--		4
	Equity securities		-4		--		-4		-8		--		-8
	Limited partnership interests		-12		--		-12		-19		--		-19
	Other-than-temporary impairment losses	$	-14	$	--	$	-14	$	-22	$	-1	$	-23

			Three months ended						Six months ended
			30-Jun-13						30-Jun-13
			Gross		Included		Net		Gross		Included		Net
			Gross		in OCI		Net		Gross		in OCI		Net
	Fixed income securities:
	Municipal	$	-1	$	--	$	-1	$	-8	$	--	$	-8
	ABS		--		-1		-1		--		-1		-1
	RMBS		--		--		--		1		-1		--
	CMBS		--		-1		-1		-19		-8		-27
	Total fixed income securities		-1		-2		-3		-26		-10		-36
	Mortgage loans		-9		--		-9		17		--		17
	Equity securities		-1		--		-1		-1		--		-1
	Limited partnership interests		-4		--		-4		-4		--		-4
	Other		--		--		--		-2		--		-2
	Other-than-temporary impairment losses	$	-15	$	-2	$	-17	$	-16	$	-10	$	-26

Schedule of other-than-temporary impairment losses on fixed income securities included in accumulated other comprehensive income	'


	($ in millions)		June 30,		December 31,
	($ in millions)		2014		2013
	Municipal	$	-5	$	-5
	ABS		-10		-10
	RMBS		-57		-90
	CMBS		-5		-12
	Total	$	-77	$	-117

Schedule of rollforwards of the cumulative credit losses recognized in earnings for fixed income securities held	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Beginning balance	$	-293	$	-343	$	-299	$	-345
	Additional credit loss for securities previously other-than-temporarily impaired		3		-2		2		-12
	Additional credit loss for securities not previously other-than-temporarily impaired		-1		-1		-1		-17
	Reduction in credit loss for securities disposed or collected		3		28		10		56
	Reduction in credit loss for securities the Company has made the decision to sell or more likely than not will be required to sell		--		--		--		--
	Change in credit loss due to accretion of increase in cash flows		--		--		--		--
	Reduction in credit loss for securities sold in LBL disposition		59		--		59		--
	Ending balance	$	-229	$	-318	$	-229	$	-318

Schedule of unrealized net capital gains and losses included in accumulated other comprehensive income	'


	($ in millions)		Fair		Gross unrealized				Unrealized net
	June 30, 2014		value		Gains		Losses		gains (losses)
	Fixed income securities	$	28,924	$	2,513	$	-126		$	2,387
	Equity securities		1,267		148		-5			143
	Short-term investments		899		--		--			--
	Derivative instruments (1)		-15		1		-16			-15
	Equity method (“EMA”) limited partnerships (2)									-2
	Unrealized net capital gains and losses, pre-tax									2,513
	Amounts recognized for:
	Insurance reserves (3)									-399
	DAC and DSI (4)									-186
	Amounts recognized									-585
	Deferred income taxes									-680
	Unrealized net capital gains and losses, after-tax								$	1,248


	(1) Included in the fair value of derivative instruments are $1 million classified as assets and $16 million classified as liabilities.

	(2) Unrealized net capital gains and losses for limited partnership interests represent the Company’s share of EMA limited partnerships’ other comprehensive income. Fair value and gross unrealized gains and losses are not applicable.

	(3) The insurance reserves adjustment represents the amount by which the reserve balance would increase if the net unrealized gains in the applicable product portfolios were realized and reinvested at current lower interest rates, resulting in a premium deficiency. Although the Company evaluates premium deficiencies on the combined performance of life insurance and immediate annuities with life contingencies, the adjustment primarily relates to structured settlement annuities with life contingencies, in addition to annuity buy-outs and certain payout annuities with life contingencies.

	(4) The DAC and DSI adjustment balance represents the amount by which the amortization of DAC and DSI would increase or decrease if the unrealized gains or losses in the respective product portfolios were realized.

	($ in millions)		Fair		Gross unrealized				Unrealized net
	31-Dec-13		value		Gains		Losses		gains (losses)
	Fixed income securities	$	28,756	$	1,747	$	-418		$	1,329
	Equity securities		650		90		-5			85
	Short-term investments		590		--		--			--
	Derivative instruments (1)		-13		1		-14			-13
	EMA limited partnerships									-2
	Investments classified as held for sale									190
	Unrealized net capital gains and losses, pre-tax									1,589
	Amounts recognized for:
	Insurance reserves									--
	DAC and DSI									-156
	Amounts recognized									-156
	Deferred income taxes									-506
	Unrealized net capital gains and losses, after-tax								$	927


	-1	Included in the fair value of derivative instruments are $1 million classified as assets and $14 million classified as liabilities.

Schedule of change in unrealized net capital gains and losses	'
	The change in unrealized net capital gains and losses for the six months ended June 30, 2014 is as follows:

	($ in millions)
	Fixed income securities	$	1,058
	Equity securities		58
	Derivative instruments		-2
	Investments classified as held for sale		-190
	Total		924
	Amounts recognized for:
	Insurance reserves		-399
	DAC and DSI		-30
	Amounts recognized		-429
	Deferred income taxes		-174
	Increase in unrealized net capital gains and losses, after-tax	$	321

Summary of gross unrealized losses and fair value of fixed income and equity securities by length of time	'


	($ in millions)		Less than 12 months						12 months or more						Total
			Number		Fair		Unrealized		Number		Fair		Unrealized		unrealized
			of issues		value		losses		of issues		value		losses		losses
	June 30, 2014
	Fixed income securities
	U.S. government and agencies		24	$	6	$	--		--	$	--	$	--	$	--
	Municipal		1		3		--		33		182		-13		-13
	Corporate		50		324		-4		139		1,290		-73		-77
	Foreign government		--		--		--		1		14		-1		-1
	ABS		9		57		-1		29		271		-24		-25
	RMBS		24		11		--		46		104		-7		-7
	CMBS		5		8		--		4		43		-3		-3
	Total fixed income securities		113		409		-5		252		1,904		-121		-126
	Equity securities		38		97		-3		1		51		-2		-5
	Total fixed income and equity securities		151	$	506	$	-8		253	$	1,955	$	-123	$	-131

	Investment grade fixed income securities		78	$	255	$	-3		197	$	1,568	$	-84	$	-87
	Below investment grade fixed income securities		35		154		-2		55		336		-37		-39
	Total fixed income securities		113	$	409	$	-5		252	$	1,904	$	-121	$	-126

	December 31, 2013
	Fixed income securities
	U.S. government and agencies		4	$	76	$	-2		--	$	--	$	--	$	-2
	Municipal		63		347		-24		21		99		-38		-62
	Corporate		530		5,191		-224		48		467		-71		-295
	Foreign government		7		76		-4		1		13		-2		-6
	ABS		17		162		-1		42		400		-33		-34
	RMBS		35		42		-2		47		129		-10		-12
	CMBS		5		14		--		6		52		-7		-7
	Total fixed income securities		661		5,908		-257		165		1,160		-161		-418
	Equity securities		25		80		-5		--		--		--		-5
	Total fixed income and equity securities		686	$	5,988	$	-262		165	$	1,160	$	-161	$	-423

	Investment grade fixed income securities		526	$	5,272	$	-236		110	$	834	$	-112	$	-348
	Below investment grade fixed income securities		135		636		-21		55		326		-49		-70
	Total fixed income securities		661	$	5,908	$	-257		165	$	1,160	$	-161	$	-418

Summary of carrying value of non-impaired fixed and variable rate mortgage loans by debt service coverage ratio distribution	'


	($ in millions)		June 30, 2014						December 31, 2013
	Debt service coverage		Fixed rate		Variable rate		Total		Fixed rate		Variable rate		Total
	ratio distribution		mortgage		mortgage				mortgage		mortgage
			loans		loans				loans		loans
	Below 1.0	$	172	$	--	$	172	$	153	$	--	$	153
	1.0 - 1.25		462		--		462		560		--		560
	1.26 - 1.50		1,069		2		1,071		1,167		2		1,169
	Above 1.50		1,928		38		1,966		2,176		38		2,214
	Total non-impaired mortgage loans	$	3,631	$	40	$	3,671	$	4,056	$	40	$	4,096

Schedule of net carrying value of impaired mortgage loans	'


	($ in millions)		June 30,		December 31,
	($ in millions)		2014		2013
	Impaired mortgage loans with a valuation allowance	$	13	$	77
	Impaired mortgage loans without a valuation allowance		--		--
	Total impaired mortgage loans	$	13	$	77
	Valuation allowance on impaired mortgage loans	$	9	$	21

Schedule of rollforward of the valuation allowance on impaired mortgage loans	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Beginning balance	$	9	$	15	$	21	$	42
	Net increase (decrease) in valuation allowance		--		9		-4		-17
	Charge offs		--		-3		-8		-4
	Ending balance	$	9	$	21	$	9	$	21

Fair_Value_of_Assets_and_Liabi1

Fair Value of Assets and Liabilities (Tables)	6 Months Ended
Fair Value of Assets and Liabilities (Tables)	Jun. 30, 2014
Fair Value of Assets and Liabilities	'
Summary of assets and liabilities measured at fair value on a recurring and non-recurring basis	'


	($ in millions)			Quoted prices			Significant			Significant			Counterparty			Balance
				in active			other			unobservable			and cash			as of
				markets for			observable			inputs			collateral			June 30,
				identical assets			inputs			(Level 3)			netting			2014
				(Level 1)			(Level 2)
	Assets
	Fixed income securities:
	U.S. government and agencies		$	170		$	644		$	--					$	814
	Municipal			--			3,403			102						3,505
	Corporate			--			20,712			883						21,595
	Foreign government			--			750			--						750
	ABS			--			758			105						863
	RMBS			--			702			--						702
	CMBS			--			674			5						679
	Redeemable preferred stock			--			16			--						16
	Total fixed income securities			170			27,659			1,095						28,924
	Equity securities			1,209			51			7						1,267
	Short-term investments			92			807			--						899
	Other investments: Free-standing derivatives			--			95			3		$	-7			91
	Separate account assets			4,780			--			--			--			4,780
	Other assets			--			--			1			--			1
	Total recurring basis assets			6,251			28,612			1,106			-7			35,962
	Non-recurring basis (1)			--			--			32			--			32
	Total assets at fair value		$	6,251		$	28,612		$	1,138		$	-7		$	35,994
	% of total assets at fair value			17.40%			79.50%			3.10%			--%			100.00%

	Liabilities
	Contractholder funds: Derivatives embedded in life and annuity contracts		$	--		$	--		$	-331					$	-331
	Other liabilities: Free-standing derivatives			--			-57			-8		$	7			-58
	Total liabilities at fair value		$	--		$	-57		$	-339		$	7		$	-389
	% of total liabilities at fair value			--%			14.70%			87.10%			-1.80%			100.00%

	(1) Includes $32 million of limited partnership interests written-down to fair value in connection with recognizing other-than-temporary impairments.



	($ in millions)			Quoted prices			Significant			Significant			Counterparty			Balance
				in active			other			unobservable			and cash			as of
				markets for			observable			inputs			collateral			December 31,
				identical assets			inputs			(Level 3)			netting			2013
				(Level 1)			(Level 2)
	Assets
	Fixed income securities:
	U.S. government and agencies		$	145		$	621		$	--					$	766
	Municipal			--			3,185			119						3,304
	Corporate			--			20,308			1,008						21,316
	Foreign government			--			792			--						792
	ABS			--			895			112						1,007
	RMBS			--			790			--						790
	CMBS			--			763			1						764
	Redeemable preferred stock			--			16			1						17
	Total fixed income securities			145			27,370			1,241						28,756
	Equity securities			593			51			6						650
	Short-term investments			129			461			--						590
	Other investments: Free-standing derivatives			--			268			9		$	-11			266
	Separate account assets			5,039			--			--						5,039
	Assets held for sale			1,854			9,812			362						12,028
	Total recurring basis assets			7,760			37,962			1,618			-11			47,329
	Non-recurring basis (1)			--			--			17						17
	Total assets at fair value		$	7,760		$	37,962		$	1,635		$	-11		$	47,346
	% of total assets at fair value			16.40%			80.20%			3.40%			--%			100.00%

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts		$	--		$	--		$	-307					$	-307
Other liabilities: Free-standing derivatives			--			-185			-14		$	7			-192
Liabilities held for sale			--			--			-246						-246
Total recurring basis liabilities			--			-185			-567			7			-745
Non-recurring basis (2)			--			--			-11,088						-11,088
Total liabilities at fair value		$	--		$	-185		$	-11,655		$	7		$	-11,833
% of total liabilities at fair value			--%			1.60%			98.50%			-0.10%			100.00%



(1) Includes $8 million of mortgage loans and $9 million of limited partnership interests written-down to fair value in connection with recognizing other-than-temporary impairments.
(2) Relates to LBL business held for sale (see Note 2). The total fair value measurement includes $15,593 million of assets held for sale and $(14,899) million of liabilities held for sale, less $12,028 million of assets and $(246) million of liabilities measured at fair value on a recurring basis.

Summary of quantitative information about the significant unobservable inputs used in Level 3 fair value measurements	'


	($ in millions)			Fair value		Valuation		Unobservable		Range		Weighted
	($ in millions)			Fair value		technique		input		Range		average
	June 30, 2014
	Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options		$	-275		Stochastic cash flow model		Projected option cost		1.0 - 2.0%		1.76%

	December 31, 2013
	Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options		$	-247		Stochastic cash flow model		Projected option cost		1.0 - 2.0%		1.75%

	Liabilities held for sale – Equity-indexed and forward starting options		$	-246		Stochastic cash flow model		Projected option cost		1.0 - 2.0%		1.91%

Schedule of rollforward of Level 3 assets and liabilities held at fair value on a recurring basis	'


	($ in millions)				Total gains (losses)
	($ in millions)				included in:
			Balance as of		Net		OCI		Transfers		Transfers
			March 31, 2014		income (1)				into		out of
									Level 3		Level 3
	Assets
	Fixed income securities:
	Municipal	$	119	$	--	$	1	$	--	$	-17
	Corporate		891		6		9		--		-1
	ABS		122		--		1		--		-12
	CMBS		5		--		--		--		--
	Total fixed income securities		1,137		6		11		--		-30
	Equity securities		6		--		--		--		--
	Free-standing derivatives, net		-7		3		--		--		--
	Other assets		--		1		--		--		--
	Assets held for sale		347		--		--		--		--
	Total recurring Level 3 assets	$	1,483	$	10	$	11	$	--	$	-30

	Liabilities
	Contractholder funds: Derivatives embedded in life and annuity contracts	$	-319	$	-12	$	--	$	--	$	--
	Liabilities held for sale		-230		--		--		--		--
	Total recurring Level 3 liabilities	$	-549	$	-12	$	--	$	--	$	--

			Sold in LBL		Purchases/		Sales		Settlements		Balance as of
			disposition		Issues (2)		Sales		Settlements		June 30, 2014
	Assets
	Fixed income securities:
	Municipal	$	--	$	--	$	-1	$	--	$	102
	Corporate		--		10		-3		-29		883
	ABS		--		--		--		-6		105
	CMBS		--		--		--		--		5
	Total fixed income securities		--		10		-4		-35		1,095
	Equity securities		--		1		--		--		7
	Free-standing derivatives, net		--		--		--		-1		-5	-3
	Other assets		--		--		--		--		1
	Assets held for sale		-347		--		--		--		--
	Total recurring Level 3 assets	$	-347	$	11	$	-4	$	-36	$	1,098

	Liabilities
	Contractholder funds: Derivatives embedded in life and annuity contracts	$	--	$	-2	$	--	$	2	$	-331
	Liabilities held for sale		230		--		--		--		--
	Total recurring Level 3 liabilities	$	230	$	-2	$	--	$	2	$	-331

	(1) The effect to net income totals $(2) million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $5 million in realized capital gains and losses, $4 million in net investment income, $(10) million in interest credited to contractholder funds and $(1) million in contract benefits.
	(2) Represents purchases for assets and issues for liabilities.
	(3) Comprises $3 million of assets and $8 million of liabilities.



	($ in millions)				Total gains (losses)
	($ in millions)				included in:
			Balance as of		Net		OCI		Transfers		Transfers
			December 31,		income (1)				into		out of
			2013						Level 3		Level 3
	Assets
	Fixed income securities:
	Municipal	$	119	$	-1	$	3	$	--	$	-17
	Corporate		1,008		11		9		--		-26
	ABS		112		--		1		--		-12
	CMBS		1		--		--		--		--
	Redeemable preferred stock		1		--		--		--		--
Total fixed income securities		1,241		10		13		--		-55
Equity securities		6		--		--		--		--
Free-standing derivatives, net		-5		1		--		--		--
Other assets		--		1		--		--		--
Assets held for sale		362		-1		2		4		-2
Total recurring Level 3 assets	$	1,604	$	11	$	15	$	4	$	-57

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	-307	$	-14	$	--	$	--	$	--
Liabilities held for sale		-246		17		--		--		--
Total recurring Level 3 liabilities	$	-553	$	3	$	--	$	--	$	--

		Sold in LBL		Purchases/		Sales		Settlements		Balance as of
		disposition(3)		Issues		Sales		Settlements		June 30, 2014
Assets
Fixed income securities:
Municipal	$	--	$	--	$	-2	$	--	$	102
Corporate		--		12		-89		-42		883
ABS		--		11		--		-7		105
CMBS		4		--		--		--		5
Redeemable preferred stock		--		--		-1		--		--
Total fixed income securities		4		23		-92		-49		1,095
Equity securities		--		1		--		--		7
Free-standing derivatives, net		--		2		--		-3		-5	-2
Other assets		--		--		--		--		1
Assets held for sale		-351		--		-8		-6		--
Total recurring Level 3 assets	$	-347	$	26	$	-100	$	-58	$	1,098

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	--	$	-13	$	--	$	3	$	-331
Liabilities held for sale		230		-4		--		3		--
Total recurring Level 3 liabilities	$	230	$	-17	$	--	$	6	$	-331



(1) The effect to net income totals $14 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $8 million in realized capital gains and losses, $6 million in net investment income, $4 million in contract benefits and $(4) million in loss on disposition of operations.
(2) Comprises $3 million of assets and $8 million of liabilities.
(3) Includes transfers from held for sale that took place in first quarter 2014 of $4 million for CMBS and $(4) million for Assets held for sale.



($ in millions)				Total gains (losses)
($ in millions)				included in:
		Balance as of		Net		OCI		Transfers		Transfers
		March 31, 2013		income (1)				into		out of
								Level 3		Level 3
Assets
Fixed income securities:
Municipal	$	251	$	--	$	-6	$	--	$	--
Corporate		1,363		8		-36		38		-43
ABS		211		-1		8		--		-16
CMBS		6		-1		--		--		--
Redeemable preferred stock		1		--		--		--		--
Total fixed income securities		1,832		6		-34		38		-59
Equity securities		7		--		--		--		--
Free-standing derivatives, net		-20		15		--		--		--
Other assets		1		--		--		--		--
Total recurring Level 3 assets	$	1,820	$	21	$	-34	$	38	$	-59

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	-567	$	57	$	--	$	--	$	--
Total recurring Level 3 liabilities	$	-567	$	57	$	--	$	--	$	--

		Purchases		Sales		Issues		Settlements		Balance as of
		Purchases		Sales		Issues		Settlements		June 30, 2013
Assets
Fixed income securities:
Municipal	$	--	$	-20	$	--	$	--	$	225
Corporate		21		-27		--		-69		1,255
ABS		--		--		--		-12		190
CMBS		--		--		--		--		5
Redeemable preferred stock		--		--		--		--		1
Total fixed income securities		21		-47		--		-81		1,676
Equity securities		--		-1		--		--		6
Free-standing derivatives, net		--		--		--		-2		-7	-2
Other assets		--		--		--		--		1
Total recurring Level 3 assets	$	21	$	-48	$	--	$	-83	$	1,676

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	--	$	--	$	-26	$	3	$	-533
Total recurring Level 3 liabilities	$	--	$	--	$	-26	$	3	$	-533



(1) The effect to net income totals $78 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $15 million in realized capital gains and losses, $4 million in net investment income, $39 million in interest credited to contractholder funds and $20 million in contract benefits.
(2) Comprises $6 million of assets and $13 million of liabilities.



($ in millions)				Total gains (losses)
($ in millions)				included in:
		Balance as of		Net		OCI		Transfers		Transfers
		December 31,		income (1)				into		out of
		2012						Level 3		Level 3
Assets
Fixed income securities:
Municipal	$	338	$	-12	$	20	$	--	$	--
Corporate		1,501		20		-38		63		-168
ABS		199		-1		15		17		-16
CMBS		21		-1		2		--		--
Redeemable preferred stock		1		--		--		--		--
Total fixed income securities		2,060		6		-1		80		-184
Equity securities		7		--		--		--		--
Free-standing derivatives, net		-27		22		--		--		--
Other assets		1		--		--		--		--
Total recurring Level 3 assets	$	2,041	$	28	$	-1	$	80	$	-184

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	-553	$	63	$	--	$	--	$	--
Total recurring Level 3 liabilities	$	-553	$	63	$	--	$	--	$	--

		Purchases		Sales		Issues		Settlements		Balance as of
		Purchases		Sales		Issues		Settlements		June 30, 2013
Assets
Fixed income securities:
Municipal	$	--	$	-121	$	--	$	--	$	225
Corporate		93		-136		--		-80		1,255
ABS		--		-8		--		-16		190
CMBS		--		-17		--		--		5
Redeemable preferred stock		--		--		--		--		1
Total fixed income securities		93		-282		--		-96		1,676
Equity securities		--		-1		--		--		6
Free-standing derivatives, net		1		--		--		-3		-7	-2
Other assets		--		--		--		--		1
Total recurring Level 3 assets	$	94	$	-283	$	--	$	-99	$	1,676

Liabilities
Contractholder funds: Derivatives embedded in life and annuity contracts	$	--	$	--	$	-50	$	7	$	-533
Total recurring Level 3 liabilities	$	--	$	--	$	-50	$	7	$	-533



(1) The effect to net income totals $91 million and is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows: $17 million in realized capital gains and losses, $9 million in net investment income, $19 million in interest credited to contractholder funds and $46 million in contract benefits.
(2) Comprises $6 million of assets and $13 million of liabilities.

Schedule of change in unrealized gains and losses included in net income for Level 3 assets and liabilities held	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Assets
	Fixed income securities:
	Municipal	$	--	$	--	$	-1	$	-6
	Corporate		4		4		7		7
	ABS		--		-1		--		-1
	CMBS		--		-1		--		-2
	Total fixed income securities		4		2		6		-2
	Free-standing derivatives, net		6		9		6		16
	Other assets		1		--		1		--
	Assets held for sale		--		--		-1		--
	Total recurring Level 3 assets	$	11	$	11	$	12	$	14

	Liabilities
	Contractholder funds: Derivatives embedded in life and annuity contracts	$	-12	$	57	$	-14	$	63
	Liabilities held for sale		--		--		17		--
	Total recurring Level 3 liabilities	$	-12	$	57	$	3	$	63

Schedule of carrying values and fair value estimates of financial instruments not carried at fair value	'
	Financial assets

	($ in millions)		June 30, 2014				December 31, 2013
			Carrying		Fair		Carrying		Fair
			value		value		value		value
	Mortgage loans	$	3,684	$	3,909	$	4,173	$	4,300
	Cost method limited partnerships		535		746		605		799
	Agent loans		355		351		341		325
	Bank loans		222		223		160		161
	Notes due from related party		275		275		275		275
	Assets held for sale		--		--		1,458		1,532



	Financial liabilities

	($ in millions)		June 30, 2014				December 31, 2013
			Carrying		Fair		Carrying		Fair
			value		value		value		value
	Contractholder funds on investment contracts	$	14,707	$	15,414	$	15,542	$	16,198
	Notes due to related parties		275		275		282		282
	Liability for collateral		610		610		328		328
	Liabilities held for sale		--		--		7,417		7,298

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	6 Months Ended
Derivative Financial Instruments (Tables)	Jun. 30, 2014
Derivative Financial Instruments	'
Summary of volume and fair value positions of derivative instruments and reporting location in the Condensed Consolidated Statement of Financial Position	'
	The following table provides a summary of the volume and fair value positions of derivative instruments as well as their reporting location in the Condensed Consolidated Statement of Financial Position as of June 30, 2014.

	($ in millions, except number of contracts)				Volume (1)
			Balance sheet location		Notional		Number		Fair		Gross		Gross
					amount		of		value,		asset		liability
							contracts		net
	Asset derivatives
	Derivatives designated as accounting hedging instruments
	Foreign currency swap agreements		Other investments	$	16		n/a	$	--	$	--	$	--

	Derivatives not designated as accounting hedging instruments
	Interest rate contracts
	Interest rate cap agreements		Other investments		79		n/a		1		1		--
	Equity and index contracts
	Options		Other investments		--		3,721		88		88		--
	Financial futures contracts		Other assets		--		368		--		--		--
	Foreign currency contracts
	Foreign currency forwards		Other investments		9		n/a		--		--		--
	Credit default contracts
	Credit default swaps – buying protection		Other investments		20		n/a		--		--		--
	Credit default swaps – selling protection		Other investments		85		n/a		2		2		--
	Other contracts
	Other contracts		Other assets		4		n/a		1		1		--
	Subtotal				197		4,089		92		92		--
	Total asset derivatives			$	213		4,089	$	92	$	92	$	--

	Liability derivatives
	Derivatives designated as accounting hedging instruments
	Foreign currency swap agreements		Other liabilities & accrued expenses	$	119		n/a	$	-15	$	--	$	-15

	Derivatives not designated as accounting hedging instruments
	Interest rate contracts
	Interest rate swap agreements		Other liabilities & accrued expenses		85		n/a		5		5		--
	Interest rate cap agreements		Other liabilities & accrued expenses		136		n/a		2		2		--
	Equity and index contracts
	Options		Other liabilities & accrued expenses		--		3,571		-40		--		-40
	Foreign currency contracts
	Foreign currency forwards		Other liabilities & accrued expenses		46		n/a		--		--		--
	Embedded derivative financial instruments
	Guaranteed accumulation benefits		Contractholder funds		674		n/a		-38		--		-38
	Guaranteed withdrawal benefits		Contractholder funds		473		n/a		-13		--		-13
	Equity-indexed and forward starting options in life and annuity product contracts		Contractholder funds		1,770		n/a		-275		--		-275
	Other embedded derivative financial instruments		Contractholder funds		85		n/a		-5		--		-5
	Credit default contracts
	Credit default swaps – buying protection		Other liabilities & accrued expenses		124		n/a		-2		--		-2
	Credit default swaps – selling protection		Other liabilities & accrued expenses		100		n/a		-8		--		-8
	Subtotal				3,493		3,571		-374		7		-381
	Total liability derivatives				3,612		3,571		-389	$	7	$	-396

	Total derivatives			$	3,825		7,660	$	-297

	(1) Volume for OTC derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a =ot applicable)

	The following table provides a summary of the volume and fair value positions of derivative instruments as well as their reporting location in the Consolidated Statement of Financial Position as of December 31, 2013.

	($ in millions, except number of contracts)				Volume (1)
			Balance sheet location		Notional		Number		Fair		Gross		Gross
					amount		of		value,		asset		liability
							contracts		net
	Asset derivatives
	Derivatives designated as accounting hedging instruments
	Foreign currency swap agreements		Other investments	$	16		n/a	$	1	$	1	$	--

Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate swaption agreements		Other investments		1,420		n/a		--		--		--
Interest rate cap agreements		Other investments		61		n/a		2		2		--
Equity and index contracts
Options and warrants (2)		Other investments		3		10,035		261		261		--
Financial futures contracts		Other assets		--		627		--		--		--
Foreign currency contracts
Foreign currency forwards		Other investments		47		n/a		--		--		--
Embedded derivative financial instruments
Credit default swaps		Fixed income securities		12		n/a		-12		--		-12
Credit default contracts
Credit default swaps – buying protection		Other investments		1		n/a		--		--		--
Credit default swaps – selling protection		Other investments		85		n/a		2		2		--
Other contracts
Other contracts		Other assets		4		n/a		--		--		--
Subtotal				1,633		10,662		253		265		-12
Total asset derivatives			$	1,649		10,662	$	254	$	266	$	-12

Liability derivatives
Derivatives designated as accounting hedging instruments
Foreign currency swap agreements		Other liabilities & accrued expenses	$	132		n/a	$	-15	$	--	$	-15

Derivatives not designated as accounting hedging instruments
Interest rate contracts
Interest rate swap agreements		Other liabilities & accrued expenses		85		n/a		4		4		--
Interest rate swaption agreements		Other liabilities & accrued expenses		4,570		n/a		1		1		--
Interest rate cap agreements		Other liabilities & accrued expenses		262		n/a		4		4		--
Equity and index contracts
Options		Other liabilities & accrued expenses		55		10,035		-165		2		-167
Embedded derivative financial instruments
Guaranteed accumulation benefits		Contractholder funds		738		n/a		-43		--		-43
Guaranteed withdrawal benefits		Contractholder funds		506		n/a		-13		--		-13
Equity-indexed and forward starting options in life and annuity product contracts		Contractholder funds		1,693		n/a		-247		--		-247
		Liabilities held for sale		2,363		n/a		-246		--		-246
Other embedded derivative financial instruments		Contractholder funds		85		n/a		-4		--		-4
Credit default contracts
Credit default swaps – buying protection		Other liabilities & accrued expenses		171		n/a		-2		--		-2
Credit default swaps – selling protection		Other liabilities & accrued expenses		100		n/a		-15		--		-15
Subtotal				10,628		10,035		-726		11		-737
Total liability derivatives				10,760		10,035		-741	$	11	$	-752

Total derivatives			$	12,409		20,697	$	-487


(1) Volume for OTC derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a =ot applicable)
(2) In addition to the number of contracts presented in the table, the Company held 837,100 stock warrants. Stock warrants can be converted to cash upon sale of those instruments or exercised for shares of common stock.

Schedule of gross and net amounts about the Company's OTC derivatives subject to enforceable master netting arrangements	'


	($ in millions)				Offsets
			Gross		Counter-		Cash		Net		Securities		Net
			amount		party		collateral		amount on		collateral		amount
					netting		(received)		balance		(received)
							pledged		sheet		pledged
	June 30, 2014
	Asset derivatives	$	9	$	-7	$	--	$	2	$	--	$	2
	Liability derivatives		-26		7		--		-19		16		-3

	December 31, 2013
	Asset derivatives	$	14	$	-11	$	--	$	3	$	-3	$	--
	Liability derivatives		-33		11		-4		-26		22		-4

Summary of impacts on operations and AOCI from foreign currency contracts, cash flow hedges	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	(Loss) gain recognized in OCI on derivatives during the period	$	-2	$	6	$	-4	$	9
	Loss recognized in OCI on derivatives during the term of the hedging relationship		-15		-7		-15		-7
	Loss reclassified from AOCI into income (net investment income)		--		-1		--		-1
	Loss reclassified from AOCI into income (realized capital gains and losses)		-2		--		-2		--

Schedule of gains and losses from valuation, settlements, and hedge ineffectiveness, fair value hedges and derivatives not designated as hedges	'


	($ in millions)		Realized		Contract		Interest		Loss on		Total gain (loss)
			capital		benefits		credited to		disposition		recognized in
			gains and				contractholder		of		net income on
			losses				funds		operations		derivatives
	Three months ended June 30, 2014
	Interest rate contracts	$	-1	$	--	$	--	$	--	$	-1
	Equity and index contracts		--		--		12		--		12
	Embedded derivative financial instruments		--		-1		-10		--		-11
	Credit default contracts		4		--		--		--		4
	Other contracts		--		--		1		--		1
	Total	$	3	$	-1	$	3	$	--	$	5

	Six months ended June 30, 2014
	Interest rate contracts	$	-2	$	--	$	--	$	-4	$	-6
	Equity and index contracts		--		--		21		--		21
	Embedded derivative financial instruments		--		4		-11		--		-7
	Credit default contracts		7		--		--		--		7
	Other contracts		--		--		1		--		1
	Total	$	5	$	4	$	11	$	-4	$	16

	($ in millions)		Net		Realized		Contract		Interest		Total gain (loss)
			investment		capital		benefits		credited to		recognized in
			income		gains and				contractholder		net income on
					losses				funds		derivatives
	Three months ended June 30, 2013
	Interest rate contracts	$	--	$	3	$	--	$	--	$	3
	Equity and index contracts		--		--		--		9		9
	Embedded derivative financial instruments		--		--		20		14		34
	Foreign currency contracts		--		--		--		--		--
	Credit default contracts		--		9		--		--		9
	Other contracts				--		--		-3		-3
	Total	$	--	$	12	$	20	$	20	$	52

	Six months ended June 30, 2013
	Interest rate contracts	$	--	$	3	$	--	$	--	$	3
	Equity and index contracts		--		--		--		47		47
	Embedded derivative financial instruments		--		-1		46		-26		19
	Foreign currency contracts		--		1		--		--		1
	Credit default contracts		--		16		--		--		16
	Other contracts				--		--		-3		-3
	Total	$	--	$	19	$	46	$	18	$	83

Summary of counterparty credit exposure by counterparty credit rating	'


	($ in millions)		June 30, 2014								December 31, 2013
	Rating (1)		Number of		Notional		Credit		Exposure,		Number of		Notional		Credit		Exposure,
			counter-		amount (2)		exposure (2)		net of		counter-		amount (2)		exposure (2)		net of
			parties						collateral (2)		parties						collateral (2)
	A+		1	$	19	$	1	$	--		1	$	22	$	1	$	1
	A		4		45		1		1		4		1,523		2		--
	A-		--		--		--		--		1		24		1		--
	BBB+		1		3		--		--		1		3		--		--
	BBB		1		62		--		--		1		76		1		--
	Total		7	$	129	$	2	$	1		8	$	1,648	$	5	$	1

	(1) Rating is the lower of S&P or Moody’s ratings.
	(2) Only OTC derivatives with a net positive fair value are included for each counterparty.

Summary of derivative instruments with credit features in a liability position, including fair value of assets and collateral netted against the liability	'


	($ in millions)		June 30,		December 31,
	($ in millions)		2014		2013
	Gross liability fair value of contracts containing credit-risk-contingent features	$	26	$	25
	Gross asset fair value of contracts containing credit-risk-contingent features and subject to MNAs		-7		-9
	Collateral posted under MNAs for contracts containing credit-risk-contingent features		-16		-14
	Maximum amount of additional exposure for contracts with credit-risk-contingent features if all features were triggered concurrently	$	3	$	2

Schedule of CDS notional amounts by credit rating and fair value of protection sold	'


	($ in millions)		Notional amount
			AA		A		BBB		BB and		Total		Fair
			AA		A		BBB		lower		Total		value
	June 30, 2014
	Single name
	Corporate debt	$	--	$	5	$	--	$	--	$	5	$	--
	First-to-default Basket
	Municipal		--		100		--		--		100		-8
	Index
	Corporate debt		1		21		53		5		80		2
	Total	$	1	$	126	$	53	$	5	$	185	$	-6

	December 31, 2013
	Single name
	Corporate debt	$	--	$	5	$	--	$	--	$	5	$	--
	First-to-default Basket
	Municipal		--		100		--		--		100		-15
	Index
	Corporate debt		1		20		55		4		80		2
	Total	$	1	$	125	$	55	$	4	$	185	$	-13

Reinsurance_Tables

Reinsurance (Tables)	6 Months Ended
Reinsurance (Tables)	Jun. 30, 2014
Reinsurance	'
Effects of reinsurance on premiums and contract charges	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Direct	$	187	$	520	$	708	$	1,035
	Assumed
	Affiliate		32		31		65		61
	Non-affiliate		195		17		211		34
	Ceded-non-affiliate		-78		-158		-225		-311
	Premiums and contract charges, net of reinsurance	$	336	$	410	$	759	$	819

Effects of reinsurance on contract benefits	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Direct	$	253	$	441	$	746	$	871
	Assumed
	Affiliate		23		18		46		40
	Non-affiliate		129		12		142		25
	Ceded-non-affiliate		-71		-75		-189		-159
	Contract benefits, net of reinsurance	$	334	$	396	$	745	$	777

Effects of reinsurance on interest credited to contractholder funds	'


	($ in millions)		Three months ended				Six months ended
	($ in millions)		June 30,				June 30,
			2014		2013		2014		2013
	Direct	$	191	$	302	$	489	$	637
	Assumed
	Affiliate		2		3		4		5
	Non-affiliate		20		8		27		15
	Ceded-non-affiliate		-8		-9		-15		-14
	Interest credited to contractholder funds, net of reinsurance	$	205	$	304	$	505	$	643

Other_Comprehensive_Income_Tab

Other Comprehensive Income (Tables)	6 Months Ended
Other Comprehensive Income (Tables)	Jun. 30, 2014
Other Comprehensive Income	'
Schedule of components of other comprehensive income on a pre-tax and after-tax basis	'


	($ in millions)		Three months ended June 30,
			2014						2013
			Pre-		Tax		After-		Pre-		Tax		After-
			tax		Tax		tax		tax		Tax		tax
	Unrealized net holding gains and losses arising during the period, net of related offsets	$	-16	$	6	$	-10	$	-807	$	282	$	-525
	Less: reclassification adjustment of realized capital gains and losses		-10		4		-6		57		-20		37
	Unrealized net capital gains and losses		-6		2		-4		-864		302		-562
	Unrealized foreign currency translation adjustments		--		--		--		-2		1		-1
	Other comprehensive income (loss)	$	-6	$	2	$	-4	$	-866	$	303	$	-563
	Net income						132						150
	Comprehensive income (loss)					$	128					$	-413

			Six months ended June 30,
			2014						2013
			Pre-		Tax		After-		Pre-		Tax		After-
			tax		Tax		tax		tax		Tax		tax
	Unrealized net holding gains and losses arising during the period, net of related offsets	$	474	$	-167	$	307	$	-792	$	277	$	-515
	Less: reclassification adjustment of realized capital gains and losses		-21		7		-14		33		-12		21
	Unrealized net capital gains and losses		495		-174		321		-825		289		-536
	Unrealized foreign currency translation adjustments		2		-1		1		--		--		--
	Other comprehensive income (loss)	$	497	$	-175	$	322	$	-825	$	289	$	-536
	Net income						259						259
	Comprehensive income (loss)					$	581					$	-277

General_Details

General (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Premiums and contract charges by product	'	'	'	'
Premiums	$143	$150	$299	$295
Contract charges	193	260	460	524
Total premiums and contract charges	336	410	759	819
Traditional life insurance	'	'	'	'
Premiums and contract charges by product	'	'	'	'
Premiums	122	116	245	228
Immediate annuities with life contingencies	'	'	'	'
Premiums and contract charges by product	'	'	'	'
Premiums	'	9	5	16
Accident and health insurance	'	'	'	'
Premiums and contract charges by product	'	'	'	'
Premiums	21	25	49	51
Interest-sensitive life insurance	'	'	'	'
Premiums and contract charges by product	'	'	'	'
Contract charges	189	256	450	517
Fixed annuities	'	'	'	'
Premiums and contract charges by product	'	'	'	'
Contract charges	$4	$4	$10	$7

Disposition_Details

Disposition (Details) (USD $)

3 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Apr. 02, 2014

Jun. 30, 2014

Dec. 31, 2013

Lincoln Benefit Life Company

Fixed income securities

Mortgage loans

Short-term investments

Policy loans

Other investments

Held for sale transaction

Gross sale price

$345,000,000

$797,000,000

Cash proceeds from sale

596,000,000

Loss on disposition, pre-tax

15,000,000

1,000,000

-44,000,000

3,000,000

11,000,000

50,000,000

Loss on disposition, after-tax

9,000,000

Investments held by trust

5,360,000,000

Assets

Investments

11,983,000,000

10,167,000,000

1,367,000,000

160,000,000

198,000,000

91,000,000

Deferred policy acquisition costs

743,000,000

Reinsurance recoverables, net

1,660,000,000

Accrued investment income

109,000,000

Other assets

79,000,000

Separate Accounts

1,701,000,000

Assets held for sale

16,275,000,000

Less: Loss accrual

-682,000,000

Total assets held for sale

15,593,000,000

Liabilities

Reserve for life-contingent contract benefits

1,894,000,000

Contractholder funds

10,945,000,000

Unearned premiums

12,000,000

Deferred income taxes

151,000,000

Other liabilities and accrued expenses

196,000,000

Separate Accounts

1,701,000,000

Total liabilities held for sale

14,899,000,000

Accumulated other comprehensive income related to assets held for sale

$85,000,000

Supplemental_Cash_Flow_Informa2

Supplemental Cash Flow Information (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Supplemental Cash Flow Information	'	'
Non-cash modifications of certain mortgage loans, fixed income securities, limited partnerships and other investments, as well as mergers completed with equity securities	$77	$191
Net change in proceeds managed	'	'
Net change in short-term investments	-282	115
Operating cash flow (used) provided	-282	115
Net change in liabilities	'	'
Liabilities for collateral, beginning of period	-328	-561
Liabilities for collateral, end of period	-610	-446
Operating cash flow provided (used)	$282	($115)

Investments_Details

Investments (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Amortized cost, gross unrealized gains and losses and fair value for fixed income securities	'	'
Amortized cost	$26,537	$27,427
Gross unrealized gains	2,513	1,747
Gross unrealized losses	-126	-418
Fair value	28,924	28,756
U.S. government and agencies	'	'
Amortized cost, gross unrealized gains and losses and fair value for fixed income securities	'	'
Amortized cost	712	678
Gross unrealized gains	102	90
Gross unrealized losses	'	-2
Fair value	814	766
Municipal	'	'
Amortized cost, gross unrealized gains and losses and fair value for fixed income securities	'	'
Amortized cost	3,099	3,135
Gross unrealized gains	419	231
Gross unrealized losses	-13	-62
Fair value	3,505	3,304
Corporate	'	'
Amortized cost, gross unrealized gains and losses and fair value for fixed income securities	'	'
Amortized cost	19,911	20,397
Gross unrealized gains	1,761	1,214
Gross unrealized losses	-77	-295
Fair value	21,595	21,316
Foreign government	'	'
Amortized cost, gross unrealized gains and losses and fair value for fixed income securities	'	'
Amortized cost	662	715
Gross unrealized gains	89	83
Gross unrealized losses	-1	-6
Fair value	750	792
Asset-backed securities ("ABS")	'	'
Amortized cost, gross unrealized gains and losses and fair value for fixed income securities	'	'
Amortized cost	862	1,011
Gross unrealized gains	26	30
Gross unrealized losses	-25	-34
Fair value	863	1,007
Residential mortgage-backed securities ("RMBS")	'	'
Amortized cost, gross unrealized gains and losses and fair value for fixed income securities	'	'
Amortized cost	652	752
Gross unrealized gains	57	50
Gross unrealized losses	-7	-12
Fair value	702	790
Commercial mortgage-backed securities ("CMBS")	'	'
Amortized cost, gross unrealized gains and losses and fair value for fixed income securities	'	'
Amortized cost	626	724
Gross unrealized gains	56	47
Gross unrealized losses	-3	-7
Fair value	679	764
Redeemable preferred stock	'	'
Amortized cost, gross unrealized gains and losses and fair value for fixed income securities	'	'
Amortized cost	13	15
Gross unrealized gains	3	2
Fair value	$16	$17

Investments_Details_2

Investments (Details 2) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Amortized cost	'	'
Due in one year or less	$1,362	'
Due after one year through five years	5,066	'
Due after five years through ten years	10,477	'
Due after ten years	7,492	'
Subtotal	24,397	'
ABS, RMBS and CMBS	2,140	'
Total	26,537	'
Fair value	'	'
Due in one year or less	1,388	'
Due after one year through five years	5,529	'
Due after five years through ten years	11,203	'
Due after ten years	8,560	'
Subtotal	26,680	'
ABS, RMBS and CMBS	2,244	'
Total	$28,924	$28,756

Investments_Details_3

Investments (Details 3) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net investment income	'	'	'	'
Investment income, before expense	$541	$649	$1,187	$1,297
Investment expense	-16	-30	-36	-57
Net investment income	525	619	1,151	1,240
Fixed income securities	'	'	'	'
Net investment income	'	'	'	'
Investment income, before expense	356	494	830	990
Mortgage loans	'	'	'	'
Net investment income	'	'	'	'
Investment income, before expense	65	87	140	178
Equity securities	'	'	'	'
Net investment income	'	'	'	'
Investment income, before expense	6	3	10	5
Limited partnership interests	'	'	'	'
Net investment income	'	'	'	'
Investment income, before expense	91	37	158	67
Short-term investments	'	'	'	'
Net investment income	'	'	'	'
Investment income, before expense	1	'	1	1
Policy loans	'	'	'	'
Net investment income	'	'	'	'
Investment income, before expense	9	12	20	24
Other	'	'	'	'
Net investment income	'	'	'	'
Investment income, before expense	$13	$16	$28	$32

Investments_Details_4

Investments (Details 4) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Realized capital gains and losses by asset type	'	'	'	'
Realized capital gains and losses	($10)	$58	($10)	$77
Fixed income securities	'	'	'	'
Realized capital gains and losses by asset type	'	'	'	'
Realized capital gains and losses	5	24	'	6
Mortgage loans	'	'	'	'
Realized capital gains and losses by asset type	'	'	'	'
Realized capital gains and losses	-2	-6	1	25
Equity securities	'	'	'	'
Realized capital gains and losses by asset type	'	'	'	'
Realized capital gains and losses	14	31	16	32
Limited partnership interests	'	'	'	'
Realized capital gains and losses by asset type	'	'	'	'
Realized capital gains and losses	-28	-3	-33	-3
Derivatives	'	'	'	'
Realized capital gains and losses by asset type	'	'	'	'
Realized capital gains and losses	1	12	3	19
Other	'	'	'	'
Realized capital gains and losses by asset type	'	'	'	'
Realized capital gains and losses	'	'	$3	($2)

Investments_Details_5

Investments (Details 5) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Investments	'	'	'	'
Impairment write-downs	'	($16)	($4)	($18)
Change in intent write-downs	-14	-1	-19	-8
Net other-than-temporary impairment losses recognized in earnings	-14	-17	-23	-26
Sales	1	63	8	84
Valuation and settlements of derivative instruments	3	12	5	19
Total realized capital gains and losses	-10	58	-10	77
Fixed income securities	'	'	'	'
Investments	'	'	'	'
Net other-than-temporary impairment losses recognized in earnings	2	-3	'	-36
Total realized capital gains and losses	5	24	'	6
Schedule of Available for Sale Securities	'	'	'	'
Gross gains on sales of fixed income securities	36	74	53	99
Gross losses on sales of fixed income securities	$15	$15	$29	$24

Investments_Details_6

Investments (Details 6) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Other-than-temporary impairment losses by asset type	'	'	'	'
Total other-than-temporary impairment losses	($14)	($15)	($22)	($16)
Portion of loss recognized in other comprehensive income	'	-2	-1	-10
Net other-than-temporary impairment losses recognized in earnings	-14	-17	-23	-26
Fixed income securities	'	'	'	'
Other-than-temporary impairment losses by asset type	'	'	'	'
Total other-than-temporary impairment losses	2	-1	1	-26
Portion of loss recognized in other comprehensive income	'	-2	-1	-10
Net other-than-temporary impairment losses recognized in earnings	2	-3	'	-36
Municipal	'	'	'	'
Other-than-temporary impairment losses by asset type	'	'	'	'
Total other-than-temporary impairment losses	'	-1	-1	-8
Net other-than-temporary impairment losses recognized in earnings	'	-1	-1	-8
ABS	'	'	'	'
Other-than-temporary impairment losses by asset type	'	'	'	'
Total other-than-temporary impairment losses	-1	'	-1	'
Portion of loss recognized in other comprehensive income	'	-1	'	-1
Net other-than-temporary impairment losses recognized in earnings	-1	-1	-1	-1
RMBS	'	'	'	'
Other-than-temporary impairment losses by asset type	'	'	'	'
Total other-than-temporary impairment losses	3	'	3	1
Portion of loss recognized in other comprehensive income	'	'	-1	-1
Net other-than-temporary impairment losses recognized in earnings	3	'	2	'
CMBS	'	'	'	'
Other-than-temporary impairment losses by asset type	'	'	'	'
Total other-than-temporary impairment losses	'	'	'	-19
Portion of loss recognized in other comprehensive income	'	-1	'	-8
Net other-than-temporary impairment losses recognized in earnings	'	-1	'	-27
Mortgage loans	'	'	'	'
Other-than-temporary impairment losses by asset type	'	'	'	'
Total other-than-temporary impairment losses	'	-9	4	17
Net other-than-temporary impairment losses recognized in earnings	'	-9	4	17
Equity securities	'	'	'	'
Other-than-temporary impairment losses by asset type	'	'	'	'
Total other-than-temporary impairment losses	-4	-1	-8	-1
Net other-than-temporary impairment losses recognized in earnings	-4	-1	-8	-1
Limited partnership interests	'	'	'	'
Other-than-temporary impairment losses by asset type	'	'	'	'
Total other-than-temporary impairment losses	-12	-4	-19	-4
Net other-than-temporary impairment losses recognized in earnings	-12	-4	-19	-4
Other	'	'	'	'
Other-than-temporary impairment losses by asset type	'	'	'	'
Total other-than-temporary impairment losses	'	'	'	-2
Net other-than-temporary impairment losses recognized in earnings	'	'	'	($2)

Investments_Details_7

Investments (Details 7) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Investments	'	'
Net unrealized gains related to changes in valuation of fixed income securities subsequent to impairment measurement date	$143	$164
Other-than-temporary impairment losses included in accumulated other comprehensive income	'	'
Amount of other-than-temporary impairment losses included in accumulated other comprehensive income for fixed income securities, not included in earnings	-77	-117
Municipal	'	'
Other-than-temporary impairment losses included in accumulated other comprehensive income	'	'
Amount of other-than-temporary impairment losses included in accumulated other comprehensive income for fixed income securities, not included in earnings	-5	-5
ABS	'	'
Other-than-temporary impairment losses included in accumulated other comprehensive income	'	'
Amount of other-than-temporary impairment losses included in accumulated other comprehensive income for fixed income securities, not included in earnings	-10	-10
RMBS	'	'
Other-than-temporary impairment losses included in accumulated other comprehensive income	'	'
Amount of other-than-temporary impairment losses included in accumulated other comprehensive income for fixed income securities, not included in earnings	-57	-90
CMBS	'	'
Other-than-temporary impairment losses included in accumulated other comprehensive income	'	'
Amount of other-than-temporary impairment losses included in accumulated other comprehensive income for fixed income securities, not included in earnings	($5)	($12)

Investments_Details_8

Investments (Details 8) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Credit Losses on Fixed Income Securities	'	'	'	'
Beginning balance	($293)	($343)	($299)	($345)
Additional credit loss for securities previously other-than-temporarily impaired	3	-2	2	-12
Additional credit loss for securities not previously other-than-temporarily impaired	-1	-1	-1	-17
Reduction in credit loss for securities disposed or collected	3	28	10	56
Ending balance	-229	-318	-229	-318
LBL	'	'	'	'
Credit Losses on Fixed Income Securities	'	'	'	'
Reduction in credit loss for securities disposed or collected	$59	'	$59	'

Investments_Details_9

Investments (Details 9) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Fair value	'	'
Fixed income securities	$28,924	$28,756
Equity securities	1,267	650
Short-term investments	899	590
Derivative instruments	-15	-13
Gross unrealized Gains	'	'
Fixed income securities	2,513	1,747
Equity securities	148	90
Derivative instruments	1	1
Gross unrealized Losses	'	'
Fixed income securities	-126	-418
Equity securities	-5	-5
Derivative instruments	-16	-14
Unrealized net gains (losses)	'	'
Fixed income securities	2,387	1,329
Equity securities	143	85
Derivative instruments	-15	-13
Equity method ("EMA") limited partnerships	-2	-2
Investments classified as held for sale	'	190
Unrealized net capital gains and losses, pre-tax	2,513	1,589
Amount recognized for:	'	'
Insurance reserves	-399	'
DAC and DSI	-186	-156
Amounts recognized	-585	-156
Deferred income taxes	-680	-506
Total unrealized net capital gains and losses	1,248	927
Fair value of derivative securities classified as assets, with unrealized net gains (losses) in AOCI	1	1
Fair value of derivative securities classified as liabilities, with unrealized net gains (losses) in AOCI	$16	$14

Investments_Details_10

Investments (Details 10) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)	'
Change in unrealized net capital gains and losses	$924
Amount recognized for:	'
Insurance reserves	-399
DAC and DSI	-30
Amounts recognized	-429
Deferred income taxes	-174
Increase in unrealized net capital gains and losses, after-tax	321
Fixed income securities	'
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)	'
Change in unrealized net capital gains and losses	1,058
Equity securities	'
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)	'
Change in unrealized net capital gains and losses	58
Derivative instruments	'
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)	'
Change in unrealized net capital gains and losses	-2
Investments classified as held for sale	'
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)	'
Change in unrealized net capital gains and losses	($190)

Investments_Details_11

Investments (Details 11) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	security	security
Fixed income and equity securities	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	151	686
Fair value, continuous unrealized loss position for less than 12 months	$506	$5,988
Unrealized losses, continuous unrealized loss position for less than 12 months	-8	-262
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	253	165
Fair value, continuous unrealized loss position for 12 months or more	1,955	1,160
Unrealized losses, continuous unrealized loss position for 12 months or more	-123	-161
Total unrealized losses	'	'
Total unrealized losses	-131	-423
Fixed income securities	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	113	661
Fair value, continuous unrealized loss position for less than 12 months	409	5,908
Unrealized losses, continuous unrealized loss position for less than 12 months	-5	-257
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	252	165
Fair value, continuous unrealized loss position for 12 months or more	1,904	1,160
Unrealized losses, continuous unrealized loss position for 12 months or more	-121	-161
Total unrealized losses	'	'
Gross unrealized losses	-126	-418
U.S. government and agencies	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	24	4
Fair value, continuous unrealized loss position for less than 12 months	6	76
Unrealized losses, continuous unrealized loss position for less than 12 months	'	-2
Total unrealized losses	'	'
Total unrealized losses	'	-2
Municipal	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	1	63
Fair value, continuous unrealized loss position for less than 12 months	3	347
Unrealized losses, continuous unrealized loss position for less than 12 months	'	-24
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	33	21
Fair value, continuous unrealized loss position for 12 months or more	182	99
Unrealized losses, continuous unrealized loss position for 12 months or more	-13	-38
Total unrealized losses	'	'
Total unrealized losses	-13	-62
Corporate	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	50	530
Fair value, continuous unrealized loss position for less than 12 months	324	5,191
Unrealized losses, continuous unrealized loss position for less than 12 months	-4	-224
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	139	48
Fair value, continuous unrealized loss position for 12 months or more	1,290	467
Unrealized losses, continuous unrealized loss position for 12 months or more	-73	-71
Total unrealized losses	'	'
Total unrealized losses	-77	-295
Foreign government	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	'	7
Fair value, continuous unrealized loss position for less than 12 months	'	76
Unrealized losses, continuous unrealized loss position for less than 12 months	'	-4
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	1	1
Fair value, continuous unrealized loss position for 12 months or more	14	13
Unrealized losses, continuous unrealized loss position for 12 months or more	-1	-2
Total unrealized losses	'	'
Total unrealized losses	-1	-6
ABS	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	9	17
Fair value, continuous unrealized loss position for less than 12 months	57	162
Unrealized losses, continuous unrealized loss position for less than 12 months	-1	-1
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	29	42
Fair value, continuous unrealized loss position for 12 months or more	271	400
Unrealized losses, continuous unrealized loss position for 12 months or more	-24	-33
Total unrealized losses	'	'
Total unrealized losses	-25	-34
RMBS	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	24	35
Fair value, continuous unrealized loss position for less than 12 months	11	42
Unrealized losses, continuous unrealized loss position for less than 12 months	'	-2
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	46	47
Fair value, continuous unrealized loss position for 12 months or more	104	129
Unrealized losses, continuous unrealized loss position for 12 months or more	-7	-10
Total unrealized losses	'	'
Total unrealized losses	-7	-12
CMBS	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	5	5
Fair value, continuous unrealized loss position for less than 12 months	8	14
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	4	6
Fair value, continuous unrealized loss position for 12 months or more	43	52
Unrealized losses, continuous unrealized loss position for 12 months or more	-3	-7
Total unrealized losses	'	'
Total unrealized losses	-3	-7
Investment grade fixed income securities	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	78	526
Fair value, continuous unrealized loss position for less than 12 months	255	5,272
Unrealized losses, continuous unrealized loss position for less than 12 months	-3	-236
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	197	110
Fair value, continuous unrealized loss position for 12 months or more	1,568	834
Unrealized losses, continuous unrealized loss position for 12 months or more	-84	-112
Total unrealized losses	'	'
Total unrealized losses	-87	-348
Below investment grade fixed income securities	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	35	135
Fair value, continuous unrealized loss position for less than 12 months	154	636
Unrealized losses, continuous unrealized loss position for less than 12 months	-2	-21
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	55	55
Fair value, continuous unrealized loss position for 12 months or more	336	326
Unrealized losses, continuous unrealized loss position for 12 months or more	-37	-49
Total unrealized losses	'	'
Total unrealized losses	-39	-70
Equity securities	'	'
Less than 12 months	'	'
Number of issues, continuous unrealized loss position for less than 12 months	38	25
Fair value, continuous unrealized loss position for less than 12 months	97	80
Unrealized losses, continuous unrealized loss position for less than 12 months	-3	-5
12 months or more	'	'
Number of issues, continuous unrealized loss position for 12 months or more	1	'
Fair value, continuous unrealized loss position for 12 months or more	51	'
Unrealized losses, continuous unrealized loss position for 12 months or more	-2	'
Total unrealized losses	'	'
Gross unrealized losses on equity securities	($5)	($5)

Investments_Details_12

Investments (Details 12) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Investment Holdings	'	'	'	'	'
Limited partnership interests	$1,866	'	$1,866	'	$2,064
Total other-than-temporary impairment losses	14	15	22	16	'
Other details of unrealized loss	'	'	'	'	'
Unrealized losses related to securities with unrealized loss position less than 20% of amortized cost or cost	93	'	93	'	'
Unrealized losses related to securities with unrealized loss position greater than or equal to 20% of amortized cost or cost	38	'	38	'	'
Tax credit funds	292	'	292	'	'
Equity method limited partnerships	'	'	'	'	'
Investment Holdings	'	'	'	'	'
Limited partnership interests	1,330	'	1,330	'	1,460
Total other-than-temporary impairment losses	0	0	0	0	'
Cost method limited partnership interests	'	'	'	'	'
Investment Holdings	'	'	'	'	'
Limited partnership interests	535	'	535	'	605
Total other-than-temporary impairment losses	2	4	9	4	'
Investment grade fixed income securities	'	'	'	'	'
Other details of unrealized loss	'	'	'	'	'
Unrealized losses related to securities with unrealized loss position less than 20% of amortized cost or cost	62	'	62	'	'
Unrealized losses related to securities with unrealized loss position greater than or equal to 20% of amortized cost or cost	25	'	25	'	'
Below investment grade fixed income securities	'	'	'	'	'
Other details of unrealized loss	'	'	'	'	'
Unrealized losses related to securities with unrealized loss position greater than or equal to 20% of amortized cost or cost	13	'	13	'	'
Unrealized losses related to securities with unrealized loss position greater than 20% of cost or amortized cost, unrealized loss position of 12 or more consecutive months	$11	'	$11	'	'

Investments_Details_13

Investments (Details 13) (USD $)	3 Months Ended	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014	Dec. 31, 2013
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution	'	'	'	'	'
Total mortgage loans	'	$3,684	'	'	$4,173
Net carrying value of impaired mortgage loans	'	'	'	'	'
Impaired mortgage loans with a valuation allowance	'	13	'	'	77
Total impaired mortgage loans	'	13	'	'	77
Valuation allowance on impaired mortgage loans	21	9	21	9	'
Rollforward of the valuation allowance on impaired mortgage loans	'	'	'	'	'
Beginning balance	15	21	42	9	'
Net increase (decrease) in valuation allowance	9	-4	-17	'	'
Charge offs	-3	-8	-4	'	'
Ending balance	21	9	21	9	'
Non-impaired mortgage loans	'	'	'	'	'
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution	'	'	'	'	'
Fixed rate mortgage loans	'	3,631	'	'	4,056
Variable rate mortgage loans	'	40	'	'	40
Total mortgage loans	'	3,671	'	'	4,096
Non-impaired mortgage loans \| Below 1.0	'	'	'	'	'
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution	'	'	'	'	'
Fixed rate mortgage loans	'	172	'	'	153
Total mortgage loans	'	172	'	'	153
Non-impaired mortgage loans \| 1.0 - 1.25	'	'	'	'	'
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution	'	'	'	'	'
Fixed rate mortgage loans	'	462	'	'	560
Total mortgage loans	'	462	'	'	560
Non-impaired mortgage loans \| 1.26 - 1.50	'	'	'	'	'
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution	'	'	'	'	'
Fixed rate mortgage loans	'	1,069	'	'	1,167
Variable rate mortgage loans	'	2	'	'	2
Total mortgage loans	'	1,071	'	'	1,169
Non-impaired mortgage loans \| Above 1.50	'	'	'	'	'
Carrying value of non-impaired fixed rate and variable rate mortgage loans by debt service coverage ratio distribution	'	'	'	'	'
Fixed rate mortgage loans	'	1,928	'	'	2,176
Variable rate mortgage loans	'	38	'	'	38
Total mortgage loans	'	1,966	'	'	2,214
Mortgage loans	'	'	'	'	'
Average carrying value and interest income recognized on impaired mortgage loans	'	'	'	'	'
Average balance impaired mortgage loans	'	$35	$88	'	'

Fair_Value_of_Assets_and_Liabi2

Fair Value of Assets and Liabilities (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013
Assets	'	'	'
Fixed income securities	$28,924	$28,756	'
Equity securities	1,267	650	'
Short-term Investments	899	590	'
Other investments:	'	'	'
Free-standing derivatives, assets	3	'	6
Separate account assets	4,780	5,039	'
Other liabilities:	'	'	'
Free-standing derivatives, liabilities	-8	'	-13
Liabilities held for sale	'	-14,899	'
LBL	'	'	'
Other investments:	'	'	'
Assets held for sale	'	15,593	'
Other liabilities:	'	'	'
Liabilities held for sale	'	-14,899	'
U.S. government and agencies	'	'	'
Assets	'	'	'
Fixed income securities	814	766	'
Municipal	'	'	'
Assets	'	'	'
Fixed income securities	3,505	3,304	'
Corporate	'	'	'
Assets	'	'	'
Fixed income securities	21,595	21,316	'
Foreign government	'	'	'
Assets	'	'	'
Fixed income securities	750	792	'
ABS	'	'	'
Assets	'	'	'
Fixed income securities	863	1,007	'
RMBS	'	'	'
Assets	'	'	'
Fixed income securities	702	790	'
CMBS	'	'	'
Assets	'	'	'
Fixed income securities	679	764	'
Redeemable preferred stock	'	'	'
Assets	'	'	'
Fixed income securities	16	17	'
Quoted prices in active markets for identical assets (Level 1)	'	'	'
Other investments:	'	'	'
Total assets at fair value	6,251	7,760	'
% of total assets at fair value	17.40%	16.40%	'
Significant other observable inputs (Level 2)	'	'	'
Other investments:	'	'	'
Total assets at fair value	28,612	37,962	'
% of total assets at fair value	79.50%	80.20%	'
Other liabilities:	'	'	'
Total liabilities at fair value	-57	-185	'
% of total liabilities at fair value	14.70%	1.60%	'
Significant unobservable inputs (Level 3)	'	'	'
Other investments:	'	'	'
Total assets at fair value	1,138	1,635	'
% of total assets at fair value	3.10%	3.40%	'
Other liabilities:	'	'	'
Total liabilities at fair value	-339	-11,655	'
% of total liabilities at fair value	87.10%	98.50%	'
Counterparty and cash collateral netting	'	'	'
Other investments:	'	'	'
Total assets at fair value	-7	-11	'
Other liabilities:	'	'	'
Total liabilities at fair value	7	7	'
% of total liabilities at fair value	-1.80%	-0.10%	'
Fair Value	'	'	'
Other investments:	'	'	'
Total assets at fair value	35,994	47,346	'
% of total assets at fair value	100.00%	100.00%	'
Mortgage loans	'	8	'
Limited partnership interests	32	9	'
Other liabilities:	'	'	'
Total liabilities at fair value	-389	-11,833	'
% of total liabilities at fair value	100.00%	100.00%	'
Recurring basis \| LBL	'	'	'
Other investments:	'	'	'
Assets held for sale	'	12,028	'
Other liabilities:	'	'	'
Liabilities held for sale	'	-246	'
Recurring basis \| Quoted prices in active markets for identical assets (Level 1)	'	'	'
Assets	'	'	'
Fixed income securities	170	145	'
Equity securities	1,209	593	'
Short-term Investments	92	129	'
Other investments:	'	'	'
Separate account assets	4,780	5,039	'
Assets held for sale	'	1,854	'
Total assets at fair value	6,251	7,760	'
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| U.S. government and agencies	'	'	'
Assets	'	'	'
Fixed income securities	170	145	'
Recurring basis \| Significant other observable inputs (Level 2)	'	'	'
Assets	'	'	'
Fixed income securities	27,659	27,370	'
Equity securities	51	51	'
Short-term Investments	807	461	'
Other investments:	'	'	'
Free-standing derivatives, assets	95	268	'
Assets held for sale	'	9,812	'
Total assets at fair value	28,612	37,962	'
Other liabilities:	'	'	'
Free-standing derivatives, liabilities	-57	-185	'
Total liabilities at fair value	'	-185	'
Recurring basis \| Significant other observable inputs (Level 2) \| U.S. government and agencies	'	'	'
Assets	'	'	'
Fixed income securities	644	621	'
Recurring basis \| Significant other observable inputs (Level 2) \| Municipal	'	'	'
Assets	'	'	'
Fixed income securities	3,403	3,185	'
Recurring basis \| Significant other observable inputs (Level 2) \| Corporate	'	'	'
Assets	'	'	'
Fixed income securities	20,712	20,308	'
Recurring basis \| Significant other observable inputs (Level 2) \| Foreign government	'	'	'
Assets	'	'	'
Fixed income securities	750	792	'
Recurring basis \| Significant other observable inputs (Level 2) \| ABS	'	'	'
Assets	'	'	'
Fixed income securities	758	895	'
Recurring basis \| Significant other observable inputs (Level 2) \| RMBS	'	'	'
Assets	'	'	'
Fixed income securities	702	790	'
Recurring basis \| Significant other observable inputs (Level 2) \| CMBS	'	'	'
Assets	'	'	'
Fixed income securities	674	763	'
Recurring basis \| Significant other observable inputs (Level 2) \| Redeemable preferred stock	'	'	'
Assets	'	'	'
Fixed income securities	16	16	'
Recurring basis \| Significant unobservable inputs (Level 3)	'	'	'
Assets	'	'	'
Fixed income securities	1,095	1,241	'
Equity securities	7	6	'
Other investments:	'	'	'
Free-standing derivatives, assets	3	9	'
Other assets	1	'	'
Assets held for sale	'	362	'
Total assets at fair value	1,106	1,618	'
Contract holder funds:	'	'	'
Derivatives embedded in life and annuity contracts	-331	-307	'
Other liabilities:	'	'	'
Free-standing derivatives, liabilities	-8	-14	'
Liabilities held for sale	'	-246	'
Total liabilities at fair value	'	-567	'
Recurring basis \| Significant unobservable inputs (Level 3) \| Municipal	'	'	'
Assets	'	'	'
Fixed income securities	102	119	'
Recurring basis \| Significant unobservable inputs (Level 3) \| Corporate	'	'	'
Assets	'	'	'
Fixed income securities	883	1,008	'
Recurring basis \| Significant unobservable inputs (Level 3) \| ABS	'	'	'
Assets	'	'	'
Fixed income securities	105	112	'
Recurring basis \| Significant unobservable inputs (Level 3) \| CMBS	'	'	'
Assets	'	'	'
Fixed income securities	5	1	'
Recurring basis \| Significant unobservable inputs (Level 3) \| Redeemable preferred stock	'	'	'
Assets	'	'	'
Fixed income securities	'	1	'
Recurring basis \| Counterparty and cash collateral netting	'	'	'
Other investments:	'	'	'
Free-standing derivatives, assets	-7	-11	'
Total assets at fair value	-7	-11	'
Other liabilities:	'	'	'
Free-standing derivatives, liabilities	7	7	'
Total liabilities at fair value	'	7	'
Recurring basis \| Fair Value	'	'	'
Assets	'	'	'
Fixed income securities	28,924	28,756	'
Equity securities	1,267	650	'
Short-term Investments	899	590	'
Other investments:	'	'	'
Free-standing derivatives, assets	91	266	'
Separate account assets	4,780	5,039	'
Other assets	1	'	'
Assets held for sale	'	12,028	'
Total assets at fair value	35,962	47,329	'
Contract holder funds:	'	'	'
Derivatives embedded in life and annuity contracts	-331	-307	'
Other liabilities:	'	'	'
Free-standing derivatives, liabilities	-58	-192	'
Liabilities held for sale	'	-246	'
Total liabilities at fair value	'	-745	'
Recurring basis \| Fair Value \| U.S. government and agencies	'	'	'
Assets	'	'	'
Fixed income securities	814	766	'
Recurring basis \| Fair Value \| Municipal	'	'	'
Assets	'	'	'
Fixed income securities	3,505	3,304	'
Recurring basis \| Fair Value \| Corporate	'	'	'
Assets	'	'	'
Fixed income securities	21,595	21,316	'
Recurring basis \| Fair Value \| Foreign government	'	'	'
Assets	'	'	'
Fixed income securities	750	792	'
Recurring basis \| Fair Value \| ABS	'	'	'
Assets	'	'	'
Fixed income securities	863	1,007	'
Recurring basis \| Fair Value \| RMBS	'	'	'
Assets	'	'	'
Fixed income securities	702	790	'
Recurring basis \| Fair Value \| CMBS	'	'	'
Assets	'	'	'
Fixed income securities	679	764	'
Recurring basis \| Fair Value \| Redeemable preferred stock	'	'	'
Assets	'	'	'
Fixed income securities	16	17	'
Non-recurring basis \| Significant unobservable inputs (Level 3)	'	'	'
Other investments:	'	'	'
Total assets at fair value	32	17	'
Other liabilities:	'	'	'
Total liabilities at fair value	'	-11,088	'
Non-recurring basis \| Fair Value	'	'	'
Other investments:	'	'	'
Total assets at fair value	32	17	'
Other liabilities:	'	'	'
Total liabilities at fair value	'	($11,088)	'

Fair_Value_of_Assets_and_Liabi3

Fair Value of Assets and Liabilities (Details 2) (Significant unobservable inputs (Level 3), USD $)	6 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Quantitative information about the significant unobservable inputs	'	'
Fair value	$1,138	$1,635
Derivatives embedded in life and annuity contracts - Equity-indexed and forward starting options \| Stochastic cash flow model	'	'
Quantitative information about the significant unobservable inputs	'	'
Fair value	-275	-247
Weighted average projected option cost (as a percent)	1.76%	1.75%
Derivatives embedded in life and annuity contracts - Equity-indexed and forward starting options \| Minimum \| Stochastic cash flow model	'	'
Quantitative information about the significant unobservable inputs	'	'
Projected option cost (as a percent)	1.00%	1.00%
Derivatives embedded in life and annuity contracts - Equity-indexed and forward starting options \| Maximum \| Stochastic cash flow model	'	'
Quantitative information about the significant unobservable inputs	'	'
Projected option cost (as a percent)	2.00%	2.00%
Fixed income securities - non-binding broker quotes	'	'
Quantitative information about the significant unobservable inputs	'	'
Fair value	1,030	1,150
Fair value	'	319
Liabilities held for sale - Equity-indexed and forward starting options \| Stochastic cash flow model	'	'
Quantitative information about the significant unobservable inputs	'	'
Fair value	'	($246)
Weighted average projected option cost (as a percent)	'	1.91%
Liabilities held for sale - Equity-indexed and forward starting options \| Minimum \| Stochastic cash flow model	'	'
Quantitative information about the significant unobservable inputs	'	'
Projected option cost (as a percent)	'	1.00%
Liabilities held for sale - Equity-indexed and forward starting options \| Maximum \| Stochastic cash flow model	'	'
Quantitative information about the significant unobservable inputs	'	'
Projected option cost (as a percent)	'	2.00%

Fair_Value_of_Assets_and_Liabi4

Fair Value of Assets and Liabilities (Details 3) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

In Millions, unless otherwise specified

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Jun. 30, 2014

Realized capital gains and losses

Net investment income

Interest credited to contractholder funds

Contract benefits

Loss on disposition of operations

Fixed income securities

Municipal

Corporate

ABS

CMBS

Redeemable preferred stock

Equity securities

Free-standing derivatives, net

Other assets

Assets held for sale

LBL

Rollforward of Level 3 assets held at fair value on a recurring basis

Balance at beginning of period

$1,483

$1,604

$1,820

$1,604

$2,041

$1,137

$1,832

$1,241

$2,060

$119

$251

$119

$338

$891

$1,363

$1,008

$1,501

$122

$211

$112

$199

$21

($7)

($20)

($5)

($27)

$347

$362

Total gains (losses) included in: net income

-10

-4

-1

-12

-1

Total gains (losses) included in: OCI

-34

-1

-34

-1

-6

-36

-38

Transfers into Level 3

Transfers out of Level 3

-30

-59

-57

-184

-30

-59

-55

-184

-17

-1

-43

-26

-168

-12

-16

-12

-16

-2

Sold in LBL disposition

-347

230

-347

-351

Purchases/Issues

Sales

-4

-48

-100

-283

-4

-47

-92

-282

-1

-20

-2

-121

-3

-27

-89

-136

-8

-17

-1

-8

Settlements

-36

-83

-58

-99

-35

-81

-49

-96

-29

-69

-42

-80

-6

-12

-7

-16

-1

-2

-3

-6

Balance at end of period

1,098

1,483

1,676

1,098

1,676

1,095

1,676

1,095

1,676

102

225

102

225

883

1,255

883

1,255

105

190

105

190

-5

-7

-5

-7

Transfer from held for sale

Effect to net income reported in the Condensed Consolidated Statements of Operations and Comprehensive Income

-10

-4

-1

-12

-1

Fair value assets and liabilities measured on recurring basis, gain (loss) included in earnings

Total realized and unrealized gains (losses) included in net income, recurring Level 3 assets and liabilities

-2

Free-standing derivatives, assets

Free-standing derivatives, liabilities

Assets transferred between Level 1 and Level 2

Liabilities transferred between Level 1 and Level 2

Fair_Value_of_Assets_and_Liabi5

Fair Value of Assets and Liabilities (Details 4) (USD $)	3 Months Ended			6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Rollforward of Level 3 assets held at fair value on a recurring basis	'	'	'	'	'
Balance at beginning of period	($549)	($553)	($567)	($553)	($553)
Total gains (losses) included in: net income	-12	'	57	3	63
Sold in LBL disposition	-347	230	'	-347	'
Issues	-2	'	-26	-17	-50
Settlements	2	'	3	6	7
Balance at end of period	-331	-549	-533	-331	-533
Derivatives embedded in life and annuity contracts	'	'	'	'	'
Rollforward of Level 3 assets held at fair value on a recurring basis	'	'	'	'	'
Balance at beginning of period	-319	-307	-567	-307	-553
Total gains (losses) included in: net income	-12	'	57	-14	63
Issues	-2	'	-26	-13	-50
Settlements	2	'	3	3	7
Balance at end of period	-331	'	-533	-331	-533
Liabilities held for sale	'	'	'	'	'
Rollforward of Level 3 assets held at fair value on a recurring basis	'	'	'	'	'
Balance at beginning of period	'	-246	'	-246	'
Total gains (losses) included in: net income	'	'	'	17	'
Sold in LBL disposition	'	230	'	'	'
Issues	'	'	'	-4	'
Settlements	'	'	'	3	'
Balance at end of period	'	($230)	'	'	'

Fair_Value_of_Assets_and_Liabi6

Fair Value of Assets and Liabilities (Details 5) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets still held at the balance sheet date, included in earnings	$11	$11	$12	$14
Gains (losses) for Level 3 liabilities still held at the balance sheet date, included in earnings	-12	57	3	63
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date, included in earnings	-1	68	15	77
Realized capital gains and losses	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	4	7	5	8
Net investment income	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	4	4	6	6
Interest credited to contractholder funds	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	-10	37	'	17
Contract benefits	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	-1	20	4	46
Loss on disposition of operations	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets and liabilities still held at the balance sheet date	2	'	'	'
Derivatives embedded in life and annuity contracts	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 liabilities still held at the balance sheet date, included in earnings	-12	57	-14	63
Liabilities held for sale	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 liabilities still held at the balance sheet date, included in earnings	'	'	17	'
Fixed income securities	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets still held at the balance sheet date, included in earnings	4	2	6	-2
Municipal	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets still held at the balance sheet date, included in earnings	'	'	-1	-6
Corporate	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets still held at the balance sheet date, included in earnings	4	4	7	7
ABS	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets still held at the balance sheet date, included in earnings	'	-1	'	-1
CMBS	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets still held at the balance sheet date, included in earnings	'	-1	'	-2
Free-standing derivatives, net	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets still held at the balance sheet date, included in earnings	6	9	6	16
Other assets	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets still held at the balance sheet date, included in earnings	1	'	1	'
Assets held for sale	'	'	'	'
Gains (losses) included in net income for Level 3 assets and liabilities:	'	'	'	'
Gains (losses) for Level 3 assets still held at the balance sheet date, included in earnings	'	'	($1)	'

Fair_Value_of_Assets_and_Liabi7

Fair Value of Assets and Liabilities (Details 6) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
Financial assets	'	'	'	'
Mortgage loans	$3,684	$4,173	'	'
Assets held for sale	'	15,593	'	'
Financial liabilities	'	'	'	'
Notes due to related parties	275	282	'	'
Liability for collateral	610	328	446	561
Liabilities held for sale	'	14,899	'	'
Carrying value	'	'	'	'
Financial assets	'	'	'	'
Mortgage loans	3,684	4,173	'	'
Cost method limited partnerships	535	605	'	'
Agent Loans	355	341	'	'
Bank loans	222	160	'	'
Notes due from related party	275	275	'	'
Assets held for sale	'	1,458	'	'
Financial liabilities	'	'	'	'
Contract holder funds on investment contracts	14,707	15,542	'	'
Notes due to related parties	275	282	'	'
Liability for collateral	610	328	'	'
Liabilities held for sale	'	7,417	'	'
Fair Value	'	'	'	'
Financial assets	'	'	'	'
Mortgage loans	3,909	4,300	'	'
Cost method limited partnerships	746	799	'	'
Agent Loans	351	325	'	'
Bank loans	223	161	'	'
Notes due from related party	275	275	'	'
Assets held for sale	'	1,532	'	'
Financial liabilities	'	'	'	'
Contract holder funds on investment contracts	15,414	16,198	'	'
Notes due to related parties	275	282	'	'
Liability for collateral	610	328	'	'
Liabilities held for sale	'	$7,298	'	'

Derivative_Financial_Instrumen2

Derivative Financial Instruments (Details) (USD $)	6 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
	contract	contract
Derivative Financial Instruments	'	'
Assumed recoveries under sale of credit protection	$0	'
Securities pledged in the form of margin deposits	26	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	213	1,649
Total liability derivatives, Notional amount	3,612	10,760
Total derivatives, Notional amount	3,825	12,409
Total asset derivatives, Number of contracts	4,089	10,662
Total liability derivatives, Number of contracts	3,571	10,035
Total derivatives, Number of contracts	7,660	20,697
Total asset derivatives, Fair value, net	92	254
Asset derivatives, Gross asset	92	266
Asset derivatives, Gross liability	0	-12
Derivative liabilities net amount on balance sheet	-389	-741
Total derivatives, Fair value, net	-297	-487
Liability derivatives, Gross asset	7	11
Liability derivatives, Gross liability	-396	-752
Number of stock warrants held by the company related to derivative contracts (in shares)	'	837,100
Derivatives not designated as accounting hedging instruments	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	197	1,633
Total liability derivatives, Notional amount	3,493	10,628
Total asset derivatives, Number of contracts	4,089	10,662
Total liability derivatives, Number of contracts	3,571	10,035
Total asset derivatives, Fair value, net	92	253
Asset derivatives, Gross asset	92	265
Asset derivatives, Gross liability	'	-12
Derivative liabilities net amount on balance sheet	-374	-726
Liability derivatives, Gross asset	7	11
Liability derivatives, Gross liability	-381	-737
Interest rate swap agreements \| Derivatives not designated as accounting hedging instruments \| Other liabilities and accrued expenses	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	85	85
Derivative liabilities net amount on balance sheet	5	4
Liability derivatives, Gross asset	5	4
Other contracts \| Derivatives not designated as accounting hedging instruments \| Other assets	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	4	4
Total asset derivatives, Fair value, net	1	'
Asset derivatives, Gross asset	1	'
Foreign currency swap agreements \| Derivatives designated as accounting hedging instruments \| Other investments	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	16	16
Total asset derivatives, Fair value, net	'	1
Asset derivatives, Gross asset	'	1
Foreign currency swap agreements \| Derivatives designated as accounting hedging instruments \| Other liabilities and accrued expenses	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	119	132
Derivative liabilities net amount on balance sheet	-15	-15
Liability derivatives, Gross liability	-15	-15
Interest rate swaption agreements \| Derivatives not designated as accounting hedging instruments \| Other investments	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	'	1,420
Interest rate swaption agreements \| Derivatives not designated as accounting hedging instruments \| Other liabilities and accrued expenses	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	'	4,570
Derivative liabilities net amount on balance sheet	'	1
Liability derivatives, Gross asset	'	1
Interest rate cap agreements \| Derivatives not designated as accounting hedging instruments \| Other investments	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	79	61
Total asset derivatives, Fair value, net	1	2
Asset derivatives, Gross asset	1	2
Interest rate cap agreements \| Derivatives not designated as accounting hedging instruments \| Other liabilities and accrued expenses	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	136	262
Derivative liabilities net amount on balance sheet	2	4
Liability derivatives, Gross asset	2	4
Financial futures contracts - Equity and index contracts \| Derivatives not designated as accounting hedging instruments \| Other assets	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Number of contracts	368	627
Options and warrants \| Derivatives not designated as accounting hedging instruments \| Other investments	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	'	3
Total asset derivatives, Number of contracts	'	10,035
Total asset derivatives, Fair value, net	'	261
Asset derivatives, Gross asset	'	261
Options \| Derivatives not designated as accounting hedging instruments \| Other investments	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Number of contracts	3,721	'
Total asset derivatives, Fair value, net	88	'
Asset derivatives, Gross asset	88	'
Options and futures \| Derivatives not designated as accounting hedging instruments \| Other liabilities and accrued expenses	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	'	55
Total liability derivatives, Number of contracts	3,571	10,035
Derivative liabilities net amount on balance sheet	-40	-165
Liability derivatives, Gross asset	'	2
Liability derivatives, Gross liability	-40	-167
Foreign currency forwards \| Derivatives not designated as accounting hedging instruments \| Other investments	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	9	47
Foreign currency forwards \| Derivatives not designated as accounting hedging instruments \| Other liabilities and accrued expenses	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	46	'
Credit default swaps \| Derivatives not designated as accounting hedging instruments \| Fixed income securities	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	'	12
Total asset derivatives, Fair value, net	'	-12
Asset derivatives, Gross liability	'	-12
Guaranteed accumulation benefits \| Derivatives not designated as accounting hedging instruments \| Contractholder funds	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	674	738
Derivative liabilities net amount on balance sheet	-38	-43
Liability derivatives, Gross liability	-38	-43
Guaranteed withdrawal benefits \| Derivatives not designated as accounting hedging instruments \| Contractholder funds	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	473	506
Derivative liabilities net amount on balance sheet	-13	-13
Liability derivatives, Gross liability	-13	-13
Equity-indexed and forward starting options in life and annuity product contracts \| Derivatives not designated as accounting hedging instruments \| Contractholder funds	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	1,770	1,693
Derivative liabilities net amount on balance sheet	-275	-247
Liability derivatives, Gross liability	-275	-247
Equity-indexed and forward starting options in life and annuity product contracts \| Derivatives not designated as accounting hedging instruments \| Liabilities held for sale	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	'	2,363
Derivative liabilities net amount on balance sheet	'	-246
Liability derivatives, Gross liability	'	-246
Other embedded derivative financial instruments \| Derivatives not designated as accounting hedging instruments \| Contractholder funds	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	85	85
Derivative liabilities net amount on balance sheet	-5	-4
Liability derivatives, Gross liability	-5	-4
Credit default swaps - buying protection \| Derivatives not designated as accounting hedging instruments \| Other investments	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	20	1
Credit default swaps - buying protection \| Derivatives not designated as accounting hedging instruments \| Other liabilities and accrued expenses	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	124	171
Derivative liabilities net amount on balance sheet	-2	-2
Liability derivatives, Gross liability	-2	-2
Credit default swaps - selling protection \| Derivatives not designated as accounting hedging instruments \| Other investments	'	'
Derivatives, Fair Value	'	'
Total asset derivatives, Notional amount	85	85
Total asset derivatives, Fair value, net	2	2
Asset derivatives, Gross asset	2	2
Credit default swaps - selling protection \| Derivatives not designated as accounting hedging instruments \| Other liabilities and accrued expenses	'	'
Derivatives, Fair Value	'	'
Total liability derivatives, Notional amount	100	100
Derivative liabilities net amount on balance sheet	-8	-15
Liability derivatives, Gross liability	($8)	($15)

Derivative_Financial_Instrumen3

Derivative Financial Instruments (Details 2) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Asset derivatives	'	'
Asset derivatives gross amount	$92	$266
Derivative assets net amount on balance sheet	92	254
Liability derivatives	'	'
Liability derivatives gross amount	-396	-752
Derivative liabilities net amount on balance sheet	-389	-741
OTC derivatives	'	'
Asset derivatives	'	'
Asset derivatives gross amount	9	14
Offsets of derivative assets under counterparty netting	-7	-11
Derivative assets net amount on balance sheet	2	3
Derivative assets pledged under securities collateral	'	-3
Derivative assets net amount	2	'
Liability derivatives	'	'
Liability derivatives gross amount	-26	-33
Offsets of derivative liabilities under counterparty netting	7	11
Derivative liability offsets under cash collateral pledged	'	-4
Derivative liabilities net amount on balance sheet	-19	-26
Derivative liabilities received under securities collateral	16	22
Derivative liabilities net amount	($3)	($4)

Derivative_Financial_Instrumen4

Derivative Financial Instruments (Details 3) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Derivative Financial Instruments	'	'	'	'
Cash flow hedge losses to be reclassified from AOCI during the next twelve months	$2	'	$2	'
Hedge ineffectiveness in realized gains	0	0	0	0
(Loss) gain recognized in OCI on derivatives during the period	-2	6	-4	9
Loss recognized in OCI on derivatives during the term of the hedging relationship	-15	-7	-15	-7
Loss reclassified from AOCI into income	-2	-1	-2	-1
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	5	52	16	83
Realized capital gains and losses	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	3	12	5	19
Contract benefits	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	-1	20	4	46
Interest credited to contractholder funds	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	3	20	11	18
Loss on disposition of operations	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	'	'	-4	'
Interest rate contracts	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	-1	3	-6	3
Interest rate contracts \| Realized capital gains and losses	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	-1	3	-2	3
Interest rate contracts \| Loss on disposition of operations	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	'	'	-4	'
Equity and index contracts	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	12	9	21	47
Equity and index contracts \| Interest credited to contractholder funds	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	12	9	21	47
Embedded derivative financial instruments	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	-11	34	7	19
Embedded derivative financial instruments \| Realized capital gains and losses	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	'	'	'	-1
Embedded derivative financial instruments \| Contract benefits	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	-1	20	4	46
Embedded derivative financial instruments \| Interest credited to contractholder funds	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	-10	14	-11	-26
Foreign currency contracts	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	'	'	'	1
Foreign currency contracts \| Realized capital gains and losses	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	'	'	'	1
Credit default swaps	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	4	9	7	16
Credit default swaps \| Realized capital gains and losses	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	4	9	7	16
Other contracts	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	1	-3	1	-3
Other contracts \| Interest credited to contractholder funds	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Derivatives not designated as accounting hedging instruments, total gain (loss) recognized in net income on derivatives	$1	($3)	$1	($3)

Derivative_Financial_Instrumen5

Derivative Financial Instruments (Details 4) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	party	party
Derivative Financial Instruments	'	'
Cash and securities pledged as collateral by counterparties	$2	'
Securities pledged as collateral to counterparties	18	'
Collateral posted under MNAs, credit-risk-contingent provisions in a liability position	16	14
Collateral posted under MNAs for contracts without credit-risk-contingent liabilities	2	'
Credit Derivatives	'	'
Number of counter-parties	7	8
Notional amount	129	1,648
Credit exposure	2	5
Exposure, net of collateral	1	1
Gross liability fair value of contracts containing credit-risk-contingent features	26	25
Gross asset fair value of contracts containing credit-risk-contingent features and subject to MNAs	-7	-9
Collateral posted under MNAs for contracts containing credit-risk-contingent features	-16	-14
Maximum amount of additional exposure for contracts with credit-risk-contingent features if all features were triggered concurrently	3	2
A+	'	'
Credit Derivatives	'	'
Number of counter-parties	1	1
Notional amount	19	22
Credit exposure	1	1
Exposure, net of collateral	'	1
A	'	'
Credit Derivatives	'	'
Number of counter-parties	4	4
Notional amount	45	1,523
Credit exposure	1	2
Exposure, net of collateral	1	'
A-	'	'
Credit Derivatives	'	'
Number of counter-parties	'	1
Notional amount	'	24
Credit exposure	'	1
BBB+	'	'
Credit Derivatives	'	'
Number of counter-parties	1	1
Notional amount	3	3
BBB	'	'
Credit Derivatives	'	'
Number of counter-parties	1	1
Notional amount	62	76
Credit exposure	'	$1

Derivative_Financial_Instrumen6

Derivative Financial Instruments (Details 5) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
	entity	Dec. 31, 2013
Derivative Financial Instruments	'	'
Term of credit default swaps (in years)	'5 years	'
Credit Derivatives	'	'
Notional amount	$3,825	$12,409
The number of reference entities generally included in a CDX index	125	'
Credit default swaps	'	'
Credit Derivatives	'	'
Notional amount	185	185
Fair value	-6	-13
Credit default swaps \| Single name \| Corporate debt	'	'
Credit Derivatives	'	'
Notional amount	5	5
Credit default swaps \| First-to-default Basket \| Municipal	'	'
Credit Derivatives	'	'
Notional amount	100	100
Fair value	-8	-15
Credit default swaps \| Index \| Corporate debt	'	'
Credit Derivatives	'	'
Notional amount	80	80
Fair value	2	2
AA \| Credit default swaps	'	'
Credit Derivatives	'	'
Notional amount	1	1
AA \| Credit default swaps \| Index \| Corporate debt	'	'
Credit Derivatives	'	'
Notional amount	1	1
A \| Credit default swaps	'	'
Credit Derivatives	'	'
Notional amount	126	125
A \| Credit default swaps \| Single name \| Corporate debt	'	'
Credit Derivatives	'	'
Notional amount	5	5
A \| Credit default swaps \| First-to-default Basket \| Municipal	'	'
Credit Derivatives	'	'
Notional amount	100	100
A \| Credit default swaps \| Index \| Corporate debt	'	'
Credit Derivatives	'	'
Notional amount	21	20
BBB \| Credit default swaps	'	'
Credit Derivatives	'	'
Notional amount	53	55
BBB \| Credit default swaps \| Single name \| Corporate debt	'	'
Credit Derivatives	'	'
Notional amount	53	'
BBB \| Credit default swaps \| Index \| Corporate debt	'	'
Credit Derivatives	'	'
Notional amount	'	55
BB and lower \| Credit default swaps	'	'
Credit Derivatives	'	'
Notional amount	5	4
BB and lower \| Credit default swaps \| Index \| Corporate debt	'	'
Credit Derivatives	'	'
Notional amount	$5	$4

Reinsurance_Details

Reinsurance (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Effects of reinsurance on revenue	'	'	'	'
Direct premiums and contract charges	$187	$520	$708	$1,035
Total premiums and contract charges	336	410	759	819
Effects of reinsurance on cost and expenses	'	'	'	'
Direct contract benefits	253	441	746	871
Direct interest credited to contractholder funds	191	302	489	637
Contract benefits, net of reinsurance	334	396	745	777
Interest credited to contractholder funds, net of reinsurance	205	304	505	643
Affiliate	'	'	'	'
Effects of reinsurance on revenue	'	'	'	'
Assumed premiums and contract charges	32	31	65	61
Effects of reinsurance on cost and expenses	'	'	'	'
Assumed contract benefits	23	18	46	40
Assumed interest credited to contractholder funds	2	3	4	5
Non-affiliate	'	'	'	'
Effects of reinsurance on revenue	'	'	'	'
Assumed premiums and contract charges	195	17	211	34
Ceded premiums and contract charges	-78	-158	-225	-311
Effects of reinsurance on cost and expenses	'	'	'	'
Assumed contract benefits	129	12	142	25
Assumed interest credited to contractholder funds	20	8	27	15
Ceded contract benefits	-71	-75	-189	-159
Ceded interest credited to contractholder funds	($8)	($9)	($15)	($14)

Guarantees_and_Contingent_Liab1

Guarantees and Contingent Liabilities (Details) (Obligations of insolvent insurance companies, USD $)	Jun. 30, 2014
In Millions, unless otherwise specified	Jun. 30, 2014
Obligations of insolvent insurance companies	'
Guarantees and Contingent Liabilities	'
Maximum amount at risk pursuant to a guarantee	$4

Other_Comprehensive_Income_Det

Other Comprehensive Income (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Pre-tax	'	'	'	'
Unrealized net holding gains and losses arising during the period, net of related offsets	($16)	($807)	$474	($792)
Less: reclassification adjustment of realized capital gains and losses	-10	57	-21	33
Unrealized net capital gains and losses	-6	-864	495	-825
Unrealized foreign currency translation adjustments	'	-2	2	'
Other comprehensive income (loss)	-6	-866	497	-825
Tax	'	'	'	'
Unrealized net holding gains and losses arising during the period, net of related offsets	6	282	-167	277
Less: reclassification adjustment of realized capital gains and losses	4	-20	7	-12
Unrealized net capital gains and losses	2	302	-174	289
Unrealized foreign currency translation adjustments	'	1	-1	'
Other comprehensive income (loss)	2	303	-175	289
After-tax	'	'	'	'
Unrealized net holding gains and losses arising during the period, net of related offsets	-10	-525	307	-515
Less: reclassification adjustment of realized capital gains and losses	-6	37	-14	21
Unrealized net capital gains and losses	-4	-562	321	-536
Unrealized foreign currency translation adjustments	'	-1	1	'
Other comprehensive (loss) income, after-tax	-4	-563	322	-536
Net income	132	150	259	259
Comprehensive income (loss)	$128	($413)	$581	($277)