American International (AIG) 10-Q 2 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 29, 2015
Document and Entity Information
Entity Registrant Name	AMERICAN INTERNATIONAL GROUP INC
Entity Central Index Key	5,272
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,237,012,512
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fixed maturity securities:
Bonds available for sale, at fair value (amortized cost: 2015 - $241,985; 2014 - $243,307)	$ 252,954	$ 259,859
Other bond securities, at fair value (See Note 5)	16,822	19,712
Equity securities:
Common and preferred stock available for sale, at fair value (cost: 2015 - $1,806; 2014 - $1,930)	3,792	4,395
Other common and preferred stock, at fair value (See Note 5)	1,066	1,049
Mortgage and other loans receivable, net of allowance (portion measured at fair value: 2015 - $11; 2014 - $6)	28,236	24,990
Other invested assets (portion measured at fair value: 2015 - $9,333; 2014 - $9,394)	31,123	34,518
Short-term investments (portion measured at fair value: 2015 - $2,733; 2014 - $1,684)	12,408	11,243
Total investments	346,401	355,766
Cash	1,569	1,758
Accrued investment income	2,696	2,712
Premiums and other receivables, net of allowance	12,078	12,031
Reinsurance assets, net of allowance	20,542	21,959
Deferred income taxes	19,511	19,339
Deferred policy acquisition costs	10,537	9,827
Other assets, including restricted cash of $247 in 2015 and $2,025 in 2014	11,515	12,153
Separate account assets, at fair value	77,136	80,036
Total assets	501,985	515,581
Liabilities:
Liability for unpaid losses and loss adjustment expenses	71,436	77,260
Unearned premiums	22,686	21,324
Future policy benefits for life and accident and health insurance contracts	42,991	42,749
Policyholder contract deposits (portion measured at fair value: 2015 - $2,287; 2014 - $1,561)	126,641	124,613
Other policyholder funds (portion measured at fair value: 2015 - $8; 2014 - $8)	4,192	4,669
Other liabilities (portion measured at fair value: 2015 - $298; 2014 - $350)	26,565	26,441
Long-term debt (portion measured at fair value: 2015 - $3,985; 2014 - $5,466)	30,719	31,217
Separate account liabilities	77,136	80,036
Total liabilities	$ 402,366	$ 408,309
Contingencies, commitments and guarantees (see Note 9)
AIG shareholders' equity:
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2015 - 1,906,671,492 and 2014 - 1,906,671,492	$ 4,766	$ 4,766
Treasury stock, at cost; 2015 - 659,876,877 shares; 2014 - 530,744,521 shares	(26,881)	(19,218)
Additional paid-in capital	81,435	80,958
Retained earnings	33,122	29,775
Accumulated other comprehensive income	6,557	10,617
Total AIG shareholders equity	98,999	106,898
Non-redeemable noncontrolling interests	620	374
Total equity	99,619	107,272
Total liabilities and equity	$ 501,985	$ 515,581

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical - assets and liabilities) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets:
Bonds available for sale, amortized cost	$ 241,985	$ 243,307
Common and preferred stocks available for sale, cost	1,806	1,930
Mortgage and other loans receivable, portion measured at fair value	11	6
Other invested assets, portion measured at fair value	9,333	9,394
Short-term investments, portion measured at fair value	2,733	1,684
Other assets, restriced cash	247	2,025
Liabilities:
Policyholder contract deposits, portion measured at fair value	2,287	1,561
Other policyholder funds, portion measured at fair value	8	8
Other liabilities, portion measured at fair value	298	350
Long-term debt, portion measured at fair value	$ 3,985	$ 5,466

CONDENSED CONSOLIDATED BALANCE4

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical - equity) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
AIG shareholders' equity:
Common stock, par value (in dollars per share)	$ 2.5	$ 2.5
Common stock, shares authorized	5,000,000,000	5,000,000,000
Common stock, shares issued	1,906,671,492	1,906,671,492
Treasury stock, shares of common stock	659,876,877	530,744,521

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Premiums	$ 8,862	$ 9,486	$ 27,229	$ 28,046
Policy fees	701	677	2,066	1,948
Net investment income	3,206	4,028	10,870	12,108
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities	(225)	(34)	(460)	(116)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income (loss)	(17)	(1)	(31)	(21)
Net other-than-temporary impairments on available for sale securities recognized in net income (loss)	(242)	(35)	(491)	(137)
Other realized capital gains (losses)	(100)	571	1,616	683
Total net realized capital gains (losses)	(342)	536	1,125	546
Aircraft leasing revenue	0	0	0	1,602
Other income	395	1,970	3,206	4,746
Total revenues	12,822	16,697	44,496	48,996
Benefits, claims and expenses:
Policyholder benefits and losses incurred	6,936	7,203	20,587	20,771
Interest credited to policyholder account balances	881	882	2,758	2,800
Amortization of deferred policy acquisition costs	1,275	1,288	3,981	3,989
General operating and other expenses	3,175	3,151	9,214	9,889
Interest expense	321	430	977	1,372
Aircraft leasing expenses	0	0	0	1,585
Loss on extinguishment of debt	346	742	756	1,014
Net (gain) loss on sale of divested businesses	3	(18)	10	(2,196)
Total benefits, claims and expenses	12,937	13,678	38,283	39,224
Income (loss) from continuing operations before income tax expense (benefit)	(115)	3,019	6,213	9,772
Income tax expense	65	820	2,142	2,908
Income (loss) from continuing operations	(180)	2,199	4,071	6,864
Income (loss) from discontinued operations, net of income tax expense	(17)	2	0	(15)
Net income (loss)	(197)	2,201	4,071	6,849
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	34	9	34	(25)
Net income (loss) attributable to AIG	$ (231)	$ 2,192	$ 4,037	$ 6,874
Basic:
Income (loss) from continuing operations	$ (0.17)	$ 1.54	$ 3.05	$ 4.78
Income (loss) from discontinued operations	(0.01)	0	0	(0.01)
Net income (loss) attributable to AIG	(0.18)	1.54	3.05	4.77
Diluted:
Income from continuing operations	(0.17)	1.52	2.97	4.72
Income (loss) from discontinued operations	(0.01)	0	0	(0.01)
Net income (loss) attributable to AIG	$ (0.18)	$ 1.52	$ 2.97	$ 4.71
Weighted average shares outstanding:
Basic (in shares)	1,279,072,748	1,419,239,774	1,324,407,969	1,440,148,774
Diluted (in shares)	1,279,072,748	1,442,067,842	1,357,108,784	1,459,483,233
Dividend declared per common share (in dollars per share)	$ 0.28	$ 0.125	$ 0.53	$ 0.375

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ (197)	$ 2,201	$ 4,071	$ 6,849
Other comprehensive income (loss), net of tax
Change in unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were taken	(61)	59	(169)	174
Change in unrealized appreciation (depreciation) of all other investments	(857)	(168)	(3,309)	4,972
Change in foreign currency translation adjustments	(238)	(78)	(734)	(189)
Change in retirement plan liabilities adjustment	92	6	148	13
Other comprehensive income (loss)	(1,064)	(181)	(4,064)	4,970
Comprehensive income (loss)	(1,261)	2,020	7	11,819
Comprehensive income (loss) attributable to noncontrolling interests	33	8	30	(26)
Comprehensive income (loss) attributable to AIG	$ (1,294)	$ 2,012	$ (23)	$ 11,845

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Millions	Total	Total AIG Shareholders' Equity	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Non redeemable Non-controlling Interests
Balance at Dec. 31, 2013	$ 101,081	$ 100,470	$ 4,766	$ (14,520)	$ 80,899	$ 22,965	$ 6,360	$ 611
Increase (Decrease) in Stockholders' Equity
Purchase of common stock	(3,200)	(3,200)	0	(3,200)
Net income (loss) attributable to AIG or noncontrolling interests	6,849	6,874	0	0	0	6,874	0	(25)
Dividends	(539)	(539)				(539)
Other comprehensive income (loss)	4,970	4,971	0	0	0	0	4,971	(1)
Net decrease due to dispositions	(123)							(123)
Contributions from noncontrolling interests	13	0	0	0	0	0	0	13
Distributions to noncontrolling interests	(78)	0	0	0	0	0	0	(78)
Other	10	5	0	0	5	0	0	5
Balance at Sep. 30, 2014	108,983	108,581	4,766	(17,720)	80,904	29,300	11,331	402
Balance at Dec. 31, 2014	107,272	106,898	4,766	(19,218)	80,958	29,775	10,617	374
Increase (Decrease) in Stockholders' Equity
Purchase of common stock	(7,663)	(7,663)	0	(7,663)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	4,071	4,037	0	0	0	4,037	0	34
Dividends	(687)	(687)	0	0	0	(687)	0	0
Other comprehensive income (loss)	(4,064)	(4,060)	0	0	0	0	(4,060)	(4)
Deferred income taxes	(7)	(7)			(7)
Net increase due to acquisitions and consolidations	214							214
Contributions from noncontrolling interests	(2)	0	0	0	0	0	0	(2)
Distributions to noncontrolling interests	(5)	0	0	0	0	0	0	(5)
Other	490	481	0	0	484	(3)	0	9
Balance at Sep. 30, 2015	$ 99,619	$ 98,999	$ 4,766	$ (26,881)	$ 81,435	$ 33,122	$ 6,557	$ 620

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ 4,071	$ 6,849
(Income) loss from discontinued operations	0	15
Noncash revenues, expenses, gains and losses included in income (loss):
Net gains on sales of securities available for sale and other assets	(660)	(602)
Net (gain) loss on sale of divested businesses	10	(2,196)
Loss on extinguishment of debt	756	1,014
Unrealized (gains) losses in earnings - net	(550)	(797)
Equity in income from equity method investments, net of dividends or distributions	(684)	(1,106)
Depreciation and other amortization	3,502	3,372
Impairments of assets	886	415
Changes in operating assets and liabilities:
Insurance reserves	(1,618)	184
Premiums and other receivables and payables - net	(389)	41
Reinsurance assets and funds held under reinsurance treaties	1,396	(64)
Capitalization of deferred policy acquisition costs	(4,376)	(4,546)
Current and deferred income taxes - net	1,736	2,291
Other, net	(1,846)	(513)
Total adjustments	(1,837)	(2,507)
Net cash provided by operating activities	2,234	4,357
Sales or distribution of:
Available for sale investments	20,846	16,063
Other securities	4,895	3,936
Other invested assets	7,015	3,034
Divested businesses, net	0	2,348
Maturities of fixed maturity securities available for sale	18,427	18,628
Principal payments received on and sales of mortgage and other loans receivable	3,298	2,552
Purchases of:
Available for sale investments	(36,333)	(34,630)
Other securities	(1,622)	(301)
Other invested assets	(2,675)	(3,205)
Mortgage and other loans receivable	(6,845)	(4,945)
Net change in restricted cash	1,476	(660)
Net change in short-term investments	(1,028)	2,342
Other, net	(774)	(295)
Net cash provided by investing activities	6,680	4,867
Proceeds from (payments for)
Policyholder contract deposits	12,216	12,311
Policyholder contract withdrawals	(10,801)	(11,036)
Issuance of long-term debt	6,449	5,827
Repayments of long-term debt	(8,343)	(11,561)
Purchase of Common Stock	(7,473)	(3,403)
Dividends paid	(687)	(539)
Other, net	(425)	(1,200)
Net cash (used in) financing activities	(9,064)	(9,601)
Effect of exchange rate changes on cash	(39)	(19)
Net increase (decrease) in cash	(189)	(396)
Cash at beginning of year	1,758	2,241
Change in cash of businesses held-for-sale	0	88
Cash at end of period	$ 1,569	$ 1,933

Supplementary Disclosure of Con

Supplementary Disclosure of Condensed Consolidated Cash Flow Information - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash paid during the period for:
Interest	$ 1,112	$ 2,496
Taxes	406	614
Non-cash investing/financing activities:
Interest credited to policyholder contract deposits included in financing activities	2,801	3,007
International Lease Finance Corporation (ILFC)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash consideration received from sale		$ 4,586
Aer Cap
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash consideration received from sale	$ 500

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
BASIS OF PRESENTATION
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION American International Group, Inc. (AIG) is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property -casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG Common Stock, par value $ 2.50 per share (AIG Common Stock), is listed on the New York Stock Exchange (NYSE: AIG) and the Tokyo Stock Exchange. Unless the context indicates otherwise, the terms “AIG,” “we,” “us” or “our” mean American International Group, Inc. and i ts consolidated subsidiaries and the term “AIG Parent” means American International Group, Inc. and not any of its consolidated subsidiaries. These unaudited Condensed Consolidated Financial Statements do not include all disclosures that are normally inclu ded in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) and should be read in conjunction with the audited Consolidated Financial Statements and the related notes included in our A nnual Report on Form 10-K for the year ended December 31, 2014 ( 2014 Annual Report). The condensed consolidated financial information as of December 31, 2014 included herein has been derived from audited Consolidated Financ ial Statements in the 2014 Annual Report. Certain of our foreign subsidiaries included in the Condensed Consolidated Financial Statements report on different fiscal-period bases. The effect on our condensed consolidated financial condition and res ults of operations of all material events occurring at these subsidiaries through the date of each of the periods presented in these Condensed Consolidated Financial Statements has been recorded. In the opinion of management, these Condensed Consolidated F inancial Statements contain normal recurring adjustments, including eliminations of material intercompany accounts and transactions, necessary for a fair statement of the results presented herein. Interim-period operating results may not be indicative of the operating results for a full year. We evaluated the need to recognize or disclose events that occurred subsequent to September 30, 2015 and prior to the issuance of these Condensed Consolidated Financial Statements. Sale of ILFC and sha res of AerCap On May 14, 2014, we completed the sale of 100 percent of the common stock of International Lease Finance Corporation (ILFC) to AerCap Ireland Limited, a wholly owned subsidiary of AerCap Holdings N.V. ( AerCap ), in exchange for total consideration of approximately $ 7.6 billion, including cash and 97.6 million newly-issued AerCap common shares (the AerCap Transaction). The total value of the consideration was based in part on AerCap’ s closing price per share of $ 47.01 on May 13, 2014. ILFC’s results of operations are reflected in Aircraft leasing revenue and Aircraft leasing expenses in the Condensed Consolidated Statements of Income (Loss) through the date of the completion of the sale. In June 2015, we sold 86.9 million ordinary shares of AerCap by means of an underwritten public offering of 71.2 million ordinary shares and a private sale of 15.7 million ordinary shares to AerCap . We received cash proceeds of approximately $ 3.7 billion, reflecting proceeds of approximately $ 3.4 billion from the underwritten offering and cash proceeds of $ 250 million from the private sale of shares to AerCap . In connection with the closing of the private sale of shares to AerCap , we also received $ 500 million of 6.50 % fixed-to-floating rate jun ior subordinated notes issued by AerCap Global Aviation Trust and guaranteed by AerCap and certain of its subsidiaries. These notes, included in Bonds available for sale, mature in 2045 and are callable beginning in 2025. We accounted for our interest in AerCap using the e quity method of accounting through the date of the June 2015 sale, and as a vailable for s ale thereafter. In August 2015, we sold our remaining 10.7 million ordinary shares of AerCap by means of an underwritten public offering and received proceeds of approximately $ 500 million. Use of Estimates The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involve a sign ificant degree of judgment. Accounting policies that we believe are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of: income tax assets and liabilities, including recoverability of our net deferred tax asset and the predictability of future tax operating profitability of the character necessary to realize the net deferred tax asset; liability for unpaid losses and loss adjustment expenses; reinsurance assets; valuation of future policy benefit liabilities and timing and extent of loss recognition; valuation of liabilities for guaranteed benefit features of variable annuity products; estimated gross profits to value deferred acquisition costs for investm ent -oriented products; impairment charges, including other -than -temporary impairments on available for sale securities, impairments on investments in life settlements and goodwill impairment; liability for legal contingencies; and fair value measurements o f certain financial assets and liabilities. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consol idated financial condition, results of operations and cash flows could be materially affected .

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Standards Adopted During 2015 Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure In January 2014, the Financial Accounting Standards Board (FASB) issued an accounting standard that clarifies that a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, so that the loan is derecognized and the real estate proper ty is recognized, when either ( i ) the creditor obtains legal title to the residential real estate property upon completion of a foreclosure or (ii) the borrower conveys all interest in the residential real estate property to the creditor to satisfy the loa n through completion of a deed in lieu of foreclosure or through a similar legal agreement. We adopted the standard on its required effective date of January 1, 2015 . The adoption of this standard had no material effect on our consolidated fina ncial condition, results of operations or cash flows. Reporting Discontinued Operations In April 2014, the FASB issued an accounting standard that changes the requirements for presenting a component or group of components of an entity as a discontinued operation and requires new disclosures. Under the standard, the disposal of a component or group of components of an entity should be reported as a discontinued operation if the disposal represents a s trategic shift that has (or will have) a major effect o n an entity’s operations and financial results. Disposals of equity method investments, or those reported as held-for-sale, must be presented as a discontinued operation if they meet the new definition. The standard also requires entities to provide disclo sures about the disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation . We adopted the standard on its required effective date of January 1, 2015 on a prospective basis. Th e adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In June 2014, the FASB issued an accounting stan dard that changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires additional disclosures about repurchase agreements and other similar transactions. The standard aligns the accounting for repur chase-to-maturity transactions and repurchase agreements executed as repurchase financings with the accounting for other typical repurchase agreements such that they all will be accounted for as secured borrowings. The standard eliminates sale accounting f or repurchase-to-maturity transactions and supersedes the standard under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement. We adopted the standard on its requ ired effective date of January 1, 2015 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Future Application of Accounting Standards R evenue Recognition In May 2014, the FASB issued an accounting standard that supersedes most existing revenue recognition guidance. The standard excludes from its scope the accounting for insurance contracts, leases, financial instruments, and certain oth er agreements that are governed under other GAAP guidance, but could affect the revenue recognition for certain of our other activities. The standard is effective for interim and annual reporting periods beginning after December 15, 2017 and may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim periods within that reporting peri od. We plan to adopt the standard on its required effective date of January 1, 2018 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows . Accounting for Share-Based Payments with Performance Targets In June 2014, the FASB issued an accounting standard that clarifies the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The standard requires that a performance target that affects vesting and that could be achieved after the requisite service period be treate d as a performance condition. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. We plan to adopt the standard on its required effective date of January 1, 2016 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows . Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity In August 2014, the FASB issued an accounting standard that allows a reporting entity to measure the financial assets and financial liabilities of a qualifying consolidated collateralized financing entity using the fair value of either its financial assets or financial liabilities, whichever is more observable. The standard is effective for interim a nd annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Consolidation: Amendments to the Consolidation Analysis In February 2015, the FAS B issued an accounting standard that affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments modify the evaluation of whether limited partnerships and similar legal entit ies are variable interest entities (VIEs) or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs, particula r l y t h o s e t h a t h a v e f e e a r r a n g e m e n t s a n d r e l a t e d p a r t y r e l a t i o n s h i p s ; a n d p r o v i d e a s c o p e e x c e p t i o n f r o m c o n s o l i d a t i o n g u i d a n c e f o r r e p o r t i n g e n t i t i e s w i t h i n t e r e s t s i n l e g a l e n t i t i e s t h a t a r e r e q u i r e d t o c o m p l y w i t h o r o p e r a t e i n a c c o r d a n c e w i t h r e q u i r e m e nts that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the year of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015, the FASB issued an accounting standard that provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license the customer should account for the software license element of the arrangement consi stent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance does not change generally accepted accounting p rinciples applicable to a customer's accounting for service contracts. Consequently, all software licenses will be accounted for consistent with other licenses of intangible assets. The standard is effective for interim and annual periods beginning after December 15, 2015. Early adoption is permitted. The standard may be adopted prospectively to all arrangements entered into or materially modified after the effective date or retrospectively. We plan to adopt the standard on its required effective date of J anuary 1, 2016 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows . Short Duration Insurance Contracts In May 2015, the FASB issued an accounting standard that requires additional disclosures (including accident year information) for short-duration insurance contracts. New disclosures about the liability for unpaid losses and loss adjustmen t expenses will be required of public business entities for annual periods beginning after December 15, 2015. The annual disclosures by accident year include: disaggregated net incurred and paid claims development tables segregated by business type (not re quired to exceed 10 years), reconciliation of total net reserves included in development tables to the reported liability for unpaid losses and loss adjustment expenses, incurred but not reported (IBNR) information, quantitative information and a qualitati ve description about claim frequency, and the average annual percentage payout of incurred claims. Further, the new standard requires, when applicable, disclosures about discounting liabilities for unpaid losses and loss a djustment expenses and significant changes and reasons for changes in methodologies and assumptions used to determine unpaid losses and loss adjustment expenses. In addition, the roll forward of the liability for unpaid losses and loss adjustment expenses currently disclosed in annual fin ancial statements will be required for interim periods beginning in the first quarter of 2017 . Early adoption of the new annual and interim disclosures is permitted. We plan to adopt the standard on i ts required effective date. Because the new standard d oes not affect accounting recognition or measurement, the adoption of the standard will have no effect on our consolidated financial condi tion, results of operations, or cash flows.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2015
SEGMENT INFORMATION
SEGMENT INFORMATION	3. SEGMENT INFORMATION We report our results of operations consistent with the manner in which our chief operating decision makers review the business to assess performance and allocate resources through two reportable segments: Commercial Insurance and Consumer Insurance as well as a Corporate and Other category. The Corporate and Other category consists of businesses and items not allocated to our reportable segments. We evaluate performance based on revenue and pre-tax operating i ncome (loss). Pre-tax operating income (loss) is derived by excluding certain items from net income (loss) attributable to AIG. See the table below for items excluded from pre-tax operating income (loss). Th e following tables present our operations by r eportable segment: 2015 2014 Pre-Tax Pre-Tax Three Months Ended September 30, Total Operating Total Operating (in millions) Revenues Income (Loss) Revenues Income (Loss) Commercial Insurance Property Casualty $ 5,715 $ 569 $ 6,425 $ 952 Mortgage Guaranty 266 162 262 135 Institutional Markets 578 84 626 153 Total Commercial Insurance 6,559 815 7,313 1,240 Consumer Insurance Retirement 2,203 635 2,472 1,094 Life 1,578 (40) 1,575 50 Personal Insurance 2,871 62 3,163 120 Total Consumer Insurance 6,652 657 7,210 1,264 Corporate and Other * 109 (613) 1,121 149 AIG consolidation and elimination (141) (11) (168) (68) Total AIG consolidated revenues and pre-tax operating income 13,179 848 15,476 2,585 Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income (loss): Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense 4 4 32 32 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - (2) - (45) Loss on extinguishment of debt - (346) - (742) Net realized capital gains (loss) (342) (342) 536 536 Net gain (loss) on sale of divested businesses - (3) - 17 Non-operating litigation reserves and settlements - 30 653 636 Reserve development related to non-operating run-off insurance business - (30) - - Restructuring and other costs - (274) - - Other (19) - - - Revenues and pre-tax income (loss) $ 12,822 $ (115) $ 16,697 $ 3,019 2015 2014 Pre-Tax Pre-Tax Nine Months Ended September 30, Total Operating Total Operating (in millions) Revenues Income (Loss) Revenues Income (Loss) Commercial Insurance Property Casualty $ 17,904 $ 2,931 $ 18,868 $ 3,313 Mortgage Guaranty 791 464 769 421 Institutional Markets 2,374 382 2,028 552 Total Commercial Insurance 21,069 3,777 21,665 4,286 Consumer Insurance Retirement 7,056 2,239 7,367 2,773 Life 4,823 280 4,745 500 Personal Insurance 8,602 106 9,356 278 Total Consumer Insurance 20,481 2,625 21,468 3,551 Corporate and Other * 2,270 (79) 3,218 39 AIG consolidation and elimination (416) (80) (356) (42) Total AIG consolidated revenues and pre-tax operating income 43,404 6,243 45,995 7,834 Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income: Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense (39) (39) 162 162 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - (84) - (90) Loss on extinguishment of debt - (756) - (1,014) Net realized capital gains 1,125 1,125 546 546 Net gain (loss) on sale of divested businesses (48) (58) 1,602 2,189 Non-operating litigation reserves and settlements 91 86 691 145 Reserve development related to non-operating run-off insurance business - (30) - - Restructuring and other costs - (274) - - Other (37) - - - Revenues and pre-tax income $ 44,496 $ 6,213 $ 48,996 $ 9,772 * Corporate and Other includes income from assets held by AIG Parent and other corporate subsidiaries.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2015
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	4. FAIR VALUE MEASUREMENTS Fair Value Measurements on a Recurring Basis Assets and liabilities recorded at fair value in the Condensed Consolidated Balance Sheets are measured and classified in accordance with a fair value hierarchy consisting of three “levels” based on the obs ervability of valuation inputs : Level 1: Fair value measurements based on quoted prices (unadjusted) in active markets that we have the ability to access for identical assets or liabilities. Market price data generally is obtained from exchange or dealer markets. We do not adjust the quoted price for such instruments . Level 2: Fair value measurements based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted p rices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable for the asset or liability, such as interest ra tes and yield curves that are observable at commonly quoted intervals . Level 3: Fair value measurements based on valuation techniques that use significant inputs that are unobservable. Both observable and unobservable inputs may be used to determine the f air values of positions classified in Level 3. The circumstances for using these measurements include those in which there is little, if any, market activity for the asset or liability. Therefore, we must make certain assumptions about the inputs a hypothe tical market participant would use to value that asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the f air value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety . A ssets and L iabilities M easured at F air V alue on a R ecurring B asis The following table presents information about assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value measurement based on the observability of the inputs used : September 30, 2015 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting * Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 8 $ 1,874 $ - $ - $ - $ 1,882 Obligations of states, municipalities and political subdivisions - 25,406 2,140 - - 27,546 Non-U.S. governments 709 17,688 31 - - 18,428 Corporate debt - 137,646 2,476 - - 140,122 RMBS - 18,766 16,859 - - 35,625 CMBS - 10,988 2,729 - - 13,717 CDO/ABS - 9,526 6,108 - - 15,634 Total bonds available for sale 717 221,894 30,343 - - 252,954 Other bond securities: U.S. government and government sponsored entities 155 3,658 - - - 3,813 Obligations of states, municipalities and political subdivisions - 75 - - - 75 Non-U.S. governments - 2 - - - 2 Corporate debt - 1,233 16 - - 1,249 RMBS - 784 1,501 - - 2,285 CMBS - 600 219 - - 819 CDO/ABS - 1,432 7,147 - - 8,579 Total other bond securities 155 7,784 8,883 - - 16,822 Equity securities available for sale: Common stock 2,961 - - - - 2,961 Preferred stock 23 - - - - 23 Mutual funds 806 2 - - - 808 Total equity securities available for sale 3,790 2 - - - 3,792 Other equity securities 1,044 - 22 - - 1,066 Mortgage and other loans receivable - - 11 - - 11 Other invested assets 2 4,371 4,960 - - 9,333 Derivative assets: Interest rate contracts - 4,070 13 - - 4,083 Foreign exchange contracts - 836 - - - 836 Equity contracts 121 14 40 - - 175 Commodity contracts - - - - - - Credit contracts - - 3 - - 3 Other contracts - - 27 - - 27 Counterparty netting and cash collateral - - - (1,691) (2,129) (3,820) Total derivative assets 121 4,920 83 (1,691) (2,129) 1,304 Short-term investments 1,032 1,701 - - - 2,733 Separate account assets 72,370 4,766 - - - 77,136 Total $ 79,231 $ 245,438 $ 44,302 $ (1,691) $ (2,129) $ 365,151 Liabilities: Policyholder contract deposits $ - $ 38 $ 2,249 $ - $ - $ 2,287 Other policyholder funds - 8 - - - 8 Derivative liabilities: Interest rate contracts - 2,787 71 - - 2,858 Foreign exchange contracts - 1,208 7 - - 1,215 Equity contracts - 82 1 - - 83 Commodity contracts - - - - - - Credit contracts - - 531 - - 531 Other contracts - 1 78 - - 79 Counterparty netting and cash collateral - - - (1,691) (910) (2,601) Total derivative liabilities - 4,078 688 (1,691) (910) 2,165 Long-term debt - 3,795 190 - - 3,985 Other liabilities 116 182 - - - 298 Total $ 116 $ 8,101 $ 3,127 $ (1,691) $ (910) $ 8,743 December 31, 2014 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting * Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 322 $ 2,670 $ - $ - $ - $ 2,992 Obligations of states, municipalities and political subdivisions - 25,500 2,159 - - 27,659 Non-U.S. governments 742 20,323 30 - - 21,095 Corporate debt - 142,550 1,883 - - 144,433 RMBS - 20,715 16,805 - - 37,520 CMBS - 10,189 2,696 - - 12,885 CDO/ABS - 7,165 6,110 - - 13,275 Total bonds available for sale 1,064 229,112 29,683 - - 259,859 Other bond securities: U.S. government and government sponsored entities 130 5,368 - - - 5,498 Obligations of states, municipalities and political subdivisions - 122 - - - 122 Non-U.S. governments - 2 - - - 2 Corporate debt - 719 - - - 719 RMBS - 989 1,105 - - 2,094 CMBS - 708 369 - - 1,077 CDO/ABS - 2,751 7,449 - - 10,200 Total other bond securities 130 10,659 8,923 - - 19,712 Equity securities available for sale: Common stock 3,626 2 1 - - 3,629 Preferred stock 25 - - - - 25 Mutual funds 738 3 - - - 741 Total equity securities available for sale 4,389 5 1 - - 4,395 Other equity securities 1,024 25 - - - 1,049 Mortgage and other loans receivable - - 6 - - 6 Other invested assets 2 3,742 5,650 - - 9,394 Derivative assets: Interest rate contracts 2 3,729 12 - - 3,743 Foreign exchange contracts - 839 1 - - 840 Equity contracts 98 58 51 - - 207 Commodity contracts - - - - - - Credit contracts - - 4 - - 4 Other contracts - - 31 - - 31 Counterparty netting and cash collateral - - - (2,102) (1,119) (3,221) Total derivative assets 100 4,626 99 (2,102) (1,119) 1,604 Short-term investments 584 1,100 - - - 1,684 Separate account assets 73,939 6,097 - - - 80,036 Total $ 81,232 $ 255,366 $ 44,362 $ (2,102) $ (1,119) $ 377,739 Liabilities: Policyholder contract deposits $ - $ 52 $ 1,509 $ - $ - $ 1,561 Other policyholder funds - 8 - - - 8 Derivative liabilities: Interest rate contracts - 3,047 86 - - 3,133 Foreign exchange contracts - 1,482 9 - - 1,491 Equity contracts - 98 4 - - 102 Commodity contracts - 6 - - - 6 Credit contracts - - 982 - - 982 Other contracts - - 90 - - 90 Counterparty netting and cash collateral - - - (2,102) (1,429) (3,531) Total derivative liabilities - 4,633 1,171 (2,102) (1,429) 2,273 Long-term debt - 5,253 213 - - 5,466 Other liabilities 34 316 - - - 350 Total $ 34 $ 10,262 $ 2,893 $ (2,102) $ (1,429) $ 9,658 * Represents netting of derivative exposures covered by a qualifying master netting agreement. Transfers of Level 1 and Level 2 Assets and Liabilities Our policy is to record transfers of assets and liabilities between Level 1 and Level 2 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. Assets are transferred out of Level 1 when they are no longer transacted with sufficient frequency and volume in an active market. Conversely, assets are transferred from Level 2 to Level 1 when transaction volume and frequency are indicative of an active market. During the three - and nine -month periods ended September 30, 2015 , we transferred $ 188 million and $ 450 million, respectively, of securities issued by Non-U.S. government entities from Level 1 to Level 2, because they are no longer considered actively traded. For similar reasons, during the nine -month pe riod ended September 30, 2015 , we transferred $ 180 million of securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2, while we had no material transfers of these securities from Level 1 to Level 2 during the three -month period ended September 30, 2015 . We had no material transfers from Level 2 to Level 1 during the three - and nine -month periods ended September 30, 2015 . During the three - and nine -month periods ended September 30, 2014 , we transferred $ 32 million and $ 330 million, respectively, of securities issued by Non-U.S. government entities from Level 1 to Level 2, because they are no longer considered actively traded. For similar reasons, during the three - and nine -month periods ended September 30, 2014 , we transferred $ 4 million and $ 107 million, respectively, of securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2. We had no material transfers from Level 2 to Level 1 during the three - and nine -month periods ended September 30, 2014 . Changes in Level 3 Recurring Fair Value Measurements The following tables present changes during the three - and nine -month periods ended September 30, 2015 and 2014 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realized and unrealized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at September 30, 2015 a nd 2014 : Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issues and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Three Months Ended September 30, 2015 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,180 $ (1) $ (15) $ 16 $ - $ (40) $ 2,140 $ - Non-U.S. governments 33 - (1) (1) - - 31 - Corporate debt 2,118 5 2 (63) 987 (573) 2,476 - RMBS 17,097 265 (151) (352) - - 16,859 - CMBS 2,677 17 (15) 50 - - 2,729 - CDO/ABS 6,071 8 57 (21) 6 (13) 6,108 - Total bonds available for sale 30,176 294 (123) (371) 993 (626) 30,343 - Other bond securities: Corporate debt 16 - - - - - 16 - RMBS 1,337 (4) - 169 - (1) 1,501 (3) CMBS 223 (1) - (8) 5 - 219 (1) CDO/ABS 7,426 85 - (415) 51 - 7,147 23 Total other bond securities 9,002 80 - (254) 56 (1) 8,883 19 Equity securities available for sale: Common stock - - - - - - - - Total equity securities available for sale - - - - - - - - Other equity securities 22 - - - - - 22 - Mortgage and other loans receivable 6 - - 5 - - 11 - Other invested assets 5,075 (52) (90) 64 15 (52) 4,960 - Total $ 44,281 $ 322 $ (213) $ (556) $ 1,064 $ (679) $ 44,219 $ 19 Liabilities: Policyholder contract deposits $ (1,232) $ (871) $ - $ (146) $ - $ - $ (2,249) $ 32 Derivative liabilities, net: Interest rate contracts (62) (3) - 7 - - (58) (4) Foreign exchange contracts (7) (1) - 1 - - (7) (2) Equity contracts 63 (21) - (3) - - 39 (21) Commodity contracts - - - - - - - - Credit contracts (551) 11 - 12 - - (528) 23 Other contracts (16) (12) - (23) - - (51) (13) Total derivative liabilities, net (a) (573) (26) - (6) - - (605) (17) Long-term debt (b) (193) 3 - - - - (190) - Total $ (1,998) $ (894) $ - $ (152) $ - $ - $ (3,044) $ 15 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issues and Transfers Transfers End Instruments Held (in millions) of Period (a) in Income Income (Loss) Settlements, Net In Out of Period at End of Period Nine Months Ended September 30, 2015 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,159 $ - $ (94) $ 174 $ - $ (99) $ 2,140 $ - Non-U.S. governments 30 - (2) 3 - - 31 - Corporate debt 1,883 19 (31) (209) 1,443 (629) 2,476 - RMBS 16,805 804 (322) (428) - - 16,859 - CMBS 2,696 63 (45) 97 - (82) 2,729 - CDO/ABS 6,110 138 (110) 98 6 (134) 6,108 - Total bonds available for sale 29,683 1,024 (604) (265) 1,449 (944) 30,343 - Other bond securities: Corporate debt - - - - 16 - 16 - RMBS 1,105 22 - 389 44 (59) 1,501 (21) CMBS 369 7 - (162) 5 - 219 (3) CDO/ABS 7,449 482 - (1,341) 632 (75) 7,147 (55) Total other bond securities 8,923 511 - (1,114) 697 (134) 8,883 (79) Equity securities available for sale: Common stock 1 2 - (3) - - - - Total equity securities available for sale 1 2 - (3) - - - - Other equity securities - - - - 22 - 22 (2) Mortgage and other loans receivable 6 - - 5 - - 11 - Other invested assets 5,650 475 (639) (522) 113 (117) 4,960 - Total $ 44,263 $ 2,012 $ (1,243) $ (1,899) $ 2,281 $ (1,195) $ 44,219 $ (81) Liabilities: Policyholder contract deposits $ (1,509) $ (410) $ - $ (330) $ - $ - $ (2,249) $ 72 Derivative liabilities, net: Interest rate contracts (74) (3) - 19 - - (58) (4) Foreign exchange contracts (8) 2 - (1) - - (7) 1 Equity contracts 47 (15) - 7 - - 39 (19) Commodity contracts - - - - - - - - Credit contracts (978) 171 - 279 - - (528) 73 Other contracts (59) 61 - (53) - - (51) 53 Total derivative liabilities, net (a) (1,072) 216 - 251 - - (605) 104 Long-term debt (b) (213) 5 - 18 - - (190) 13 Total $ (2,794) $ (189) $ - $ (61) $ - $ - $ (3,044) $ 189 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair value Gains (Losses) Other Sales, Gross Gross Fair value in Income on Beginning Included Comprehensive Issues and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Three Months Ended September 30, 2014 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,991 $ (1) $ (11) $ 43 $ - $ (8) $ 2,014 $ - Non-U.S. governments 25 - - 1 - (3) 23 - Corporate debt 2,196 2 (22) (73) 3 (97) 2,009 - RMBS 16,328 264 (49) 375 - - 16,918 - CMBS 5,917 27 (39) 14 - (3) 5,916 - CDO/ABS 7,431 18 (2) 692 53 (35) 8,157 - Total bonds available for sale 33,888 310 (123) 1,052 56 (146) 35,037 - Other bond securities: RMBS 1,062 - - (39) - - 1,023 (9) CMBS 757 (24) - (20) - - 713 (21) CDO/ABS 8,397 257 - (451) - (134) 8,069 76 Total other bond securities 10,216 233 - (510) - (134) 9,805 46 Equity securities available for sale: Common stock - - 1 - - (1) - - Preferred stock - - - - - - - - Mutual funds - - - - 1 - 1 - Total equity securities available for sale - - 1 - 1 (1) 1 - Mortgage and other loans receivable 6 - - - - - 6 - Other invested assets 5,824 (7) 90 65 83 (246) 5,809 - Total $ 49,934 $ 536 $ (32) $ 607 $ 140 $ (527) $ 50,658 $ 46 Liabilities: Policyholder contract deposits $ (842) $ (155) $ 8 $ (2) $ - $ - $ (991) $ (21) Derivative liabilities, net: Interest rate contracts (67) (3) - 1 - (2) (71) (3) Foreign exchange contracts (9) - - 2 - - (7) - Equity contracts 91 6 - 2 - (53) 46 - Commodity contracts 1 (1) - - - - - - Credit contracts (1,085) 75 - (8) - - (1,018) 65 Other contracts (53) 14 4 (20) - - (55) 17 Total derivatives liabilities, net (a) (1,122) 91 4 (23) - (55) (1,105) 79 Long-term debt (b) (394) 21 - 1 - 75 (297) 16 Total $ (2,358) $ (43) $ 12 $ (24) $ - $ 20 $ (2,393) $ 74 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair value Gains (Losses) Other Sales, Gross Gross Fair value in Income on Beginning Included Comprehensive Issues and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Nine Months Ended September 30, 2014 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions (c) $ 1,080 $ (1) $ 180 $ 896 $ - $ (141) $ 2,014 $ - Non-U.S. governments 16 - (1) 7 4 (3) 23 - Corporate debt 1,255 8 31 (140) 1,358 (503) 2,009 - RMBS 14,941 759 211 999 119 (111) 16,918 - CMBS 5,735 50 201 (43) 69 (96) 5,916 - CDO/ABS 6,974 70 1 1,426 222 (536) 8,157 - Total bonds available for sale 30,001 886 623 3,145 1,772 (1,390) 35,037 - Other bond securities: RMBS 937 51 - 33 2 - 1,023 9 CMBS 844 14 - (151) 6 - 713 11 CDO/ABS 8,834 926 - (1,338) 1 (354) 8,069 341 Total other bond securities 10,615 991 - (1,456) 9 (354) 9,805 361 Equity securities available for sale: Common stock 1 - 1 - - (2) - - Preferred stock - - - - - - - - Mutual funds - - - - 1 - 1 - Total equity securities available for sale 1 - 1 - 1 (2) 1 - Mortgage and other loans receivable - - - 6 - - 6 - Other invested assets 5,930 80 139 99 168 (607) 5,809 - Total $ 46,547 $ 1,957 $ 763 $ 1,794 $ 1,950 $ (2,353) $ 50,658 $ 361 Liabilities: Policyholder contract deposits $ (312) $ (687) $ (16) $ 24 $ - $ - $ (991) $ (140) Derivative liabilities, net: Interest rate contracts (100) (2) - 33 - (2) (71) - Foreign exchange contracts - 3 - (10) - - (7) 4 Equity contracts 49 14 - (12) 48 (53) 46 6 Commodity contracts 1 - - - - (1) - - Credit contracts (1,280) 229 - 33 - - (1,018) 229 Other contracts (109) 49 51 (46) - - (55) 37 Total derivatives liabilities, net (a) (1,439) 293 51 (2) 48 (56) (1,105) 276 Long-term debt (b) (370) 13 - 34 (70) 96 (297) 15 Total $ (2,121) $ (381) $ 35 $ 56 $ (22) $ 40 $ (2,393) $ 151 (a) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only . (b) Includes guaranteed investment agreements ( GIAs ) , notes, bonds, loans and mortgages payable. ( c ) Purchases, Sales, Issues and Settlements, Net primarily reflect the effect of consolidating previously unconsolidated securitization vehicles. Net realized and unrealized gains and losses related to Level 3 items shown above are reported in the Condensed Consolidated Statement s of Income (Loss) as follows: Net Net Realized Investment Capital Other (in millions) Income Gains (Losses) Income Total Three Months Ended September 30, 2015 Bonds available for sale $ 304 $ (15) $ 5 $ 294 Other bond securities 7 - 73 80 Equity securities available for sale - - - - Other invested assets (25) (22) (5) (52) Policyholder contract deposits - (871) - (871) Derivative liabilities, net - (17) (9) (26) Long-term debt - - 3 3 Three Months Ended September 30, 2014 Bonds available for sale $ 320 $ (22) $ 12 $ 310 Other bond securities (3) - 236 233 Equity securities available for sale - - - - Other invested assets 18 (20) (5) (7) Policyholder contract deposits - (155) - (155) Derivative liabilities, net 18 (1) 74 91 Long-term debt - - 21 21 Nine Months Ended September 30, 2015 Bonds available for sale $ 926 $ (14) $ 112 $ 1,024 Other bond securities 48 3 460 511 Equity securities available for sale - 2 - 2 Other invested assets 61 355 59 475 Policyholder contract deposits - (410) - (410) Derivative liabilities, net - (12) 228 216 Long-term debt - - 5 5 Nine Months Ended September 30, 2014 Bonds available for sale $ 922 $ (73) $ 37 $ 886 Other bond securities 97 2 892 991 Equity securities available for sale - - - - Other invested assets 107 (33) 6 80 Policyholder contract deposits - (687) - (687) Derivative liabilities, net 49 4 240 293 Long-term debt - - 13 13 The following tables present the gross components of purchases, sales, issues and settlements, net, shown above , for the three - and nine -month periods ended September 30, 2015 and 2014 related to Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets : Purchases, Sales, Issues and (in millions) Purchases Sales Settlements Settlements, Net (a) Three Months Ended September 30, 2015 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 35 $ - $ (19) $ 16 Non-U.S. governments 3 (1) (3) (1) Corporate debt 32 - (95) (63) RMBS 449 (29) (772) (352) CMBS 50 - - 50 CDO/ABS 160 (9) (172) (21) Total bonds available for sale 729 (39) (1,061) (371) Other bond securities: RMBS 218 (6) (43) 169 CMBS - - (8) (8) CDO/ABS 10 (5) (420) (415) Total other bond securities 228 (11) (471) (254) Equity securities available for sale - - - - Mortgage and other loans receivable 5 - - 5 Other invested assets 193 - (129) 64 Total assets $ 1,155 $ (50) $ (1,661) $ (556) Liabilities: Policyholder contract deposits $ - $ (122) $ (24) $ (146) Derivative liabilities, net 1 - (7) (6) Long-term debt (b) - - - - Total liabilities $ 1 $ (122) $ (31) $ (152) Three Months Ended September 30, 2014 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 66 $ (3) $ (20) $ 43 Non-U.S. governments 1 - - 1 Corporate debt 22 - (95) (73) RMBS 1,062 (62) (625) 375 CMBS 276 (167) (95) 14 CDO/ABS 1,085 (68) (325) 692 Total bonds available for sale 2,512 (300) (1,160) 1,052 Other bond securities: RMBS - (3) (36) (39) CMBS - (9) (11) (20) CDO/ABS 6 (4) (453) (451) Total other bond securities 6 (16) (500) (510) Equity securities available for sale - - - - Other invested assets 276 - (211) 65 Total assets $ 2,794 $ (316) $ (1,871) $ 607 Liabilities: Policyholder contract deposits $ - $ (36) $ 34 $ (2) Derivative liabilities, net - (2) (21) (23) Long-term debt (b) - - 1 1 Total liabilities $ - $ (38) $ 14 $ (24) Purchases, Sales, Issues and (in millions) Purchases Sales Settlements Settlements, Net (a) Nine Months Ended September 30, 2015 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 258 $ (22) $ (62) $ 174 Non-U.S. governments 11 (1) (7) 3 Corporate debt 220 (60) (369) (209) RMBS 1,856 (194) (2,090) (428) CMBS 192 (27) (68) 97 CDO/ABS 1,021 (210) (713) 98 Total bonds available for sale 3,558 (514) (3,309) (265) Other bond securities: RMBS 527 (16) (122) 389 CMBS - (79) (83) (162) CDO/ABS 236 (376) (1,201) (1,341) Total other bond securities 763 (471) (1,406) (1,114) Equity securities available for sale - (2) (1) (3) Mortgage and other loans receivable 5 - - 5 Other invested assets 497 (587) (432) (522) Total assets $ 4,823 $ (1,574) $ (5,148) $ (1,899) Liabilities: Policyholder contract deposits $ - $ (307) $ (23) $ (330) Derivative liabilities, net 18 - 233 251 Long-term debt (b) - - 18 18 Total liabilities $ 18 $ (307) $ 228 $ (61) Nine Months Ended September 30, 2014 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions (c) $ 1,002 $ (35) $ (71) $ 896 Non-U.S. governments 8 - (1) 7 Corporate debt 141 (8) (273) (140) RMBS 2,814 (88) (1,727) 999 CMBS 368 (224) (187) (43) CDO/ABS 2,307 (70) (811) 1,426 Total bonds available for sale 6,640 (425) (3,070) 3,145 Other bond securities: RMBS 162 (22) (107) 33 CMBS - (15) (136) (151) CDO/ABS 50 (19) (1,369) (1,338) Total other bond securities 212 (56) (1,612) (1,456) Equity securities available for sale - - - - Mortgage and other loans receivable 6 - - 6 Other invested assets 709 (1) (609) 99 Total assets $ 7,567 $ (482) $ (5,291) $ 1,794 Liabilities: Policyholder contract deposits $ - $ (94) $ 118 $ 24 Derivative liabilities, net 1 (2) (1) (2) Long-term debt (b) - - 34 34 Total liabilities $ 1 $ (96) $ 151 $ 56 (a) There were no issuances during the three - and nine -month period s ended September 30, 2015 and 2014 , respectively . (b) Includes GIAs, notes, bonds, loans and mortgages payable . (c) Purchases primarily reflect the effect of consolidating previously unconsolidated securitization vehicles . Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3 in the tables above. As a result, the unrealized g ains (losses) on instruments held at September 30, 2015 and 2014 may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable inputs (e.g., changes in unobserv able long-dated volatilities) . Transfers of Level 3 Assets and Liabilities We record transfers of assets and liabilities into or out of Level 3 classification at their fair values as of the end of each reporting period, consistent with the date of the de termination of fair value. The Net realized and unrealized gains (losses) included in income (loss) or Other comprehensive income (loss) as shown in the table above excludes $ 17 million and $ 35 million of net gains r elated to assets and liabilities transferred into Level 3 during the three - and nine -month periods ended September 30, 2015 , respectively, and includes $ 3 million and $ 6 milli on of net gains related to assets and liabilities transferred out of Level 3 during the three - and nine -month periods ended September 30, 2015 , respectively. The Net realized and unrealized gains (losses) included in in come (loss) or Other comprehensive income (loss) as shown in the table above excludes $ 2 million of net losses and $ 35 million of net gains related to assets and liabilities transferred into Level 3 during the three - and nine -month periods ended September 30, 2014 , respectively, and includes $ 52 million and $ 50 million of net gains related to assets and liabilities transferred out of Level 3 durin g the three - and nine -month periods ended September 30, 2014 , respectively . Transfers of Level 3 Assets During the three - and nine -month periods ended September 30, 2015 and 2014 , transfers into Level 3 assets primarily included certain investments in RMBS, CDO/ABS and private placement corporate debt. T he transfer s of investments in RMBS and CDO / ABS into Level 3 assets were due to decreases in market transparency and li quidity for individual security types . Transfers of investments in private placement corporate debt into Level 3 assets were primarily the result of limited market pricing information that required us to determine fair value for these securities based on i nputs that are adjusted to better reflect our own assumptions regarding the characteristics of a specific security or associated market liquidity . During the three - and nine -month periods ended September 30, 2015 and 2014 , transfers out of Level 3 assets primarily related to certain investments in corporate debt, RMBS, CDO/ABS, and investments in hedge funds . Transfers of certain investments in corporate debt, RMBS, and CDO/ABS out of Level 3 assets were based o n consideration of market liquidity as well as related transparency of pricing and associated observable inputs for these investments . T he transfer s of certain hedge fund investments out of Level 3 assets were primarily the result of easing of certain fund -imposed redemption restrictions. Transfers of Level 3 Liabilities There were no significant transfers of derivative or other liabilities into or out of Level 3 for the three - and nine -month periods ended September 30, 2015 and 2014 . Quantitative Information About Level 3 Fair Value Measurements The table below presents information about the significant unobservable inputs used for recurring fair value measurements for certain Level 3 instruments, and includes only those instruments for which information about the inputs is reasonably available to us, such as data from third -party valuation service providers and from internal valuation models. Because input information from third -parties with resp ect to certain Level 3 instruments (p rimarily CDO/ABS) may not be reasonably available to us, balances shown below may not equal total amounts reported for such Level 3 assets and liabilities : Fair Value at September 30, Valuation Range (in millions) 2015 Technique Unobservable Input (Weighted Average) Assets: Obligations of states, $ 1,199 Discounted cash flow Yield (b) 4.34% - 5.16% (4.75%) municipalities and political subdivisions Corporate debt 1,506 Discounted cash flow Yield (b) 3.91% - 5.80% (4.85%) RMBS 17,609 Discounted cash flow Constant prepayment rate (a)(c) 0.93% - 8.91% (4.92%) Loss severity (a)(c) 45.29% - 77.96% (61.63%) Constant default rate (a)(c) 3.47% - 9.01% (6.24%) Yield (c) 3.02% - 5.96% (4.49%) CDO/ABS 3,217 Discounted cash flow Yield (c) 2.79% - 4.33% (3.56%) CMBS 2,656 Discounted cash flow Yield (b) 0.00% - 18.45% (6.07%) Liabilities: Policyholder contract deposits GMWB 1,392 Discounted cash flow Equity implied volatility (b) 6.00% - 39.00% (d) Base lapse rate (b) 0.50% - 30.00% (d) Dynamic lapse rate (b) 0.07% - 45.00% (d) Mortality rate (b) 0.05% - 35.00% (d) Utilization rate (b) 1.00% - 65.00% (d) Index Annuities 556 Discounted cash flow Lapse rate 0.75% - 66.00% (d) Mortality rate 0.02% - 44.06% (d) Indexed Life 295 Discounted cash flow Equity implied volatility 10.00% to 25.00% (d) Base lapse rate 2.00% to 19.00% (d) Mortality rate 0.00% to 20.00% (d) Fair Value at December 31, Valuation Range (in millions) 2014 Technique Unobservable Input (Weighted Average ) Assets: Obligations of states, $ 1,178 Discounted cash flow Yield (b) 3.9% - 4.62% (4.26%) municipalities and political subdivisions Corporate debt 1,145 Discounted cash flow Yield (b) 3.46% - 8.75% (6.10%) RMBS 17,353 Discounted cash flow Constant prepayment rate (a)(c) 0.59% - 9.35% (4.97%) Loss severity (a)(c) 46.04% - 79.56% (62.80%) Constant default rate (a)(c) 3.67% - 9.96% (6.82%) Yield (c) 2.67% - 6.64% (4.65%) CDO/ABS 5,282 Discounted cash flow Yield (c) 4.70% - 9.70% (7.10%) CMBS 2,687 Discounted cash flow Yield (b) 0.00% - 17.29% (6.06%) Liabilities: Policyholder contract deposits GMWB 890 Discounted cash flow Equity implied volatility (b) 6.00% - 39.00% (d) Base lapse rate (b) 1.00% - 40.00% (d) Dynamic lapse rate (b) 0.20% - 60.00% (d) Mortality rate (b) 0.10% - 35.00% (d) Utilization rate (b) 0.50% - 30.00% (d) Index Annuities 294 Discounted cash flow Lapse rate 0.75% - 66.00% (d) Mortality rate 0.02% - 44.06% (d) Indexed Life 259 Discounted cash flow Equity implied volatility 10.00% to 25.00% (d) Base lapse rate 2.00% to 19.00% (d) Mortality rate 0.00% to 20.00% (d) Total derivative liabilities, net (e) 791 BET Recovery rate (b) 5.00% - 23.00% (13.00%) Diversity score (b) 8 - 25 (13) Weighted average life (b) 2.67 - 10.49 years (4.65 years) (a) The unobservable inputs and ranges for the constant prepayment rate, loss severity and constant default rate relate to each of the individual underlying mortgage loans that comprise the entire portfolio of securities in the RMBS and CDO securitization vehicles and not necessarily to the securitization vehicle bonds (tranches) purchased by us. The ranges of these inputs do not directly correlate to changes in the fair values of the tranches purchased by us because there are other factors relevant to the fair values of specific tranches owned by us including, but not limited to, purchase price, position in the waterfall, senior versus subordinated position and attachment points . (b) Represents discount rates, estimates and assumptions that we believe wou ld be used by market participants when valuing these assets and liabilities . (c) Information received from independent third-party valuation service providers. ( d ) Represents actual maximum and minimum, not weighted average rates . (e) Beginning in the thi rd quarter of 2015 , we have begun valuing these transactions using prices obtained from vendors and/or counterparties and discontinued use of the BET model . The ranges of reported inputs for Corporate debt, RMBS, CDO/ABS, and CMBS valued using a discounte d cash flow technique consist of one standard deviation in either direction from the value - weighted average. The preceding table does not give effect to our risk management practices that might offset risks inherent in these investments . Sensitivity to Cha nges in Unobservable Inputs We consider unobservable inputs to be those for which market data is not available and that are developed using the best information available to us about the assumptions that market participants would use when pricing the ass et or liability. Relevant inputs vary depending on the nature of the instrument being measured at fair value. The following paragraphs provide a general description of sensitivities of significant unobservable inputs along with interrelationships between a nd among the significant unobservable inputs and their impact on the fair value measurements. The effect of a change in a particular assumption in the sensitivity analysis below is considered independently of changes in any other assumptions. In practice, simultaneous changes in assumptions may not always have a linear effect on the inputs discussed below. Interrelationships may also exist between observable and unobservable inputs. Such relationships have not been included in the discussion below. For each of the individual relationships described below, the inverse relationship would also generally apply . Obligations of States, Mu

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2015
INVESTMENTS
INVESTMENTS	5. INVESTMENTS S ecurities A vailable for S ale The following table presents the amortized cost or cost and fair value of our available for sale securities: Other-Than- Amortized Gross Gross Temporary Cost or Unrealized Unrealized Fair Impairments (in millions) Cost Gains Losses Value in AOCI (a) September 30, 2015 Bonds available for sale: U.S. government and government sponsored entities $ 1,705 $ 179 $ (2) $ 1,882 $ - Obligations of states, municipalities and political subdivisions 26,305 1,361 (120) 27,546 16 Non-U.S. governments 17,940 818 (330) 18,428 - Corporate debt 134,852 8,032 (2,762) 140,122 21 Mortgage-backed, asset-backed and collateralized: RMBS 32,891 3,046 (312) 35,625 1,479 CMBS 13,014 775 (72) 13,717 206 CDO/ABS 15,278 505 (149) 15,634 40 Total mortgage-backed, asset-backed and collateralized 61,183 4,326 (533) 64,976 1,725 Total bonds available for sale (b) 241,985 14,716 (3,747) 252,954 1,762 Equity securities available for sale: Common stock 986 1,993 (18) 2,961 - Preferred stock 19 4 - 23 - Mutual funds 801 43 (36) 808 - Total equity securities available for sale 1,806 2,040 (54) 3,792 - Total $ 243,791 $ 16,756 $ (3,801) $ 256,746 $ 1,762 December 31, 2014 Bonds available for sale: U.S. government and government sponsored entities $ 2,806 $ 204 $ (18) $ 2,992 $ - Obligations of states, municipalities and political subdivisions 25,979 1,729 (49) 27,659 (13) Non-U.S. governments 20,280 966 (151) 21,095 - Corporate debt 134,961 10,594 (1,122) 144,433 64 Mortgage-backed, asset-backed and collateralized: RMBS 34,377 3,435 (292) 37,520 1,767 CMBS 12,129 815 (59) 12,885 215 CDO/ABS 12,775 628 (128) 13,275 47 Total mortgage-backed, asset-backed and collateralized 59,281 4,878 (479) 63,680 2,029 Total bonds available for sale (b) 243,307 18,371 (1,819) 259,859 2,080 Equity securities available for sale: Common stock 1,185 2,461 (17) 3,629 - Preferred stock 21 4 - 25 - Mutual funds 724 54 (37) 741 - Total equity securities available for sale 1,930 2,519 (54) 4,395 - Total $ 245,237 $ 20,890 $ (1,873) $ 264,254 $ 2,080 (a) Represents the amount of other-than-temporary impairment s recognized in Accumulated other comprehensive income . Amount includes unrealized gains and losses on impaired securities relating to changes in the fair value of such securities subsequent to the impairment measurement date. (b) At September 30, 2015 and December 31, 2014 , bonds available for sale held by us that were below investment grade or not rated totaled $ 35.4 billion and $ 35.1 billion, respectively. Securities Available for Sale in a Loss Position The following table summarizes the fair value and gross unrealized losses on our available for sale securities , aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position: Less than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (in millions) Value Losses Value Losses Value Losses September 30, 2015 Bonds available for sale: U.S. government and government sponsored entities $ 121 $ 2 $ 1 $ - $ 122 $ 2 Obligations of states, municipalities and political subdivisions 3,190 103 259 17 3,449 120 Non-U.S. governments 4,140 194 725 136 4,865 330 Corporate debt 32,818 1,858 4,664 904 37,482 2,762 RMBS 5,056 82 4,146 230 9,202 312 CMBS 2,239 46 571 26 2,810 72 CDO/ABS 4,686 44 2,018 105 6,704 149 Total bonds available for sale 52,250 2,329 12,384 1,418 64,634 3,747 Equity securities available for sale: Common stock 96 18 6 - 102 18 Mutual funds 297 28 16 8 313 36 Total equity securities available for sale 393 46 22 8 415 54 Total $ 52,643 $ 2,375 $ 12,406 $ 1,426 $ 65,049 $ 3,801 December 31, 2014 Bonds available for sale: U.S. government and government sponsored entities $ 526 $ 5 $ 281 $ 13 $ 807 $ 18 Obligations of states, municipalities and political subdivisions 495 9 794 40 1,289 49 Non-U.S. governments 1,606 42 1,690 109 3,296 151 Corporate debt 12,132 450 11,570 672 23,702 1,122 RMBS 4,621 109 3,996 183 8,617 292 CMBS 220 1 2,087 58 2,307 59 CDO/ABS 3,857 50 1,860 78 5,717 128 Total bonds available for sale 23,457 666 22,278 1,153 45,735 1,819 Equity securities available for sale: Common stock 88 16 2 1 90 17 Mutual funds 280 37 64 - 344 37 Total equity securities available for sale 368 53 66 1 434 54 Total $ 23,825 $ 719 $ 22,344 $ 1,154 $ 46,169 $ 1,873 At September 30, 2015 , we held 12,631 and 198 individual fixed maturity and equity securities, respectively, that were in an unrealized loss position, of which 1,966 individual fixed maturity securities were in a continuous unrealized loss position for 12 months or more . We did not recognize the unrealized losses in earnings on these fixed maturity securities at September 30, 2015 bec ause we neither intend to sell the securities nor do we believe that it is more likely than not that we will be required to sell these securities before recovery of their amortized cost basis. For fixed maturity securities with significant declines, we per formed fundamental credit analyses on a security-by-security basis, which included consideration of credit enhancements, expected defaults on underlying collateral, review of relevant industry analyst reports and forecasts and other available market data. Contractual Maturities of Fixed Maturity Securities Available for Sale The following table presents the amortized cost and fair value of fixed maturity securities available for sale by contractual maturity: Total Fixed Maturity Securities Fixed Maturity Securities in a Loss September 30, 2015 Available for Sale Position Available for Sale (in millions) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 10,295 $ 10,412 $ 945 $ 926 Due after one year through five years 46,854 49,320 7,176 6,915 Due after five years through ten years 55,985 57,443 17,681 16,601 Due after ten years 67,668 70,803 23,330 21,476 Mortgage-backed, asset-backed and collateralized 61,183 64,976 19,249 18,716 Total $ 241,985 $ 252,954 $ 68,381 $ 64,634 December 31, 2014 Due in one year or less $ 9,821 $ 9,975 $ 637 $ 620 Due after one year through five years 48,352 50,873 6,669 6,529 Due after five years through ten years 62,685 65,889 12,873 12,338 Due after ten years 63,168 69,442 10,255 9,607 Mortgage-backed, asset-backed and collateralized 59,281 63,680 17,120 16,641 Total $ 243,307 $ 259,859 $ 47,554 $ 45,735 Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain oblig ations with or without call or prepayment penalties. The following table presents the gross realized gains and gross realized losses from sales or maturities of our available for sale securities: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Gross Gross Gross Gross Gross Gross Gross Gross Realized Realized Realized Realized Realized Realized Realized Realized (in millions) Gains Losses Gains Losses Gains Losses Gains Losses Fixed maturity securities $ 96 $ 112 $ 118 $ 21 $ 439 $ 289 $ 528 $ 65 Equity securities 24 8 33 4 544 16 102 10 Total $ 120 $ 120 $ 151 $ 25 $ 983 $ 305 $ 630 $ 75 For the three - and nine -month periods ended September 30, 2015 , the aggregate fair value of available for sale securit ies sold was $ 6.9 b illion and $ 20.9 billion, respectively, which resulted in n et realized capital gains of zero and $ 0.7 billion, respectively. For the three - and nine -month periods ended September 30, 2014 , the aggregate fair value of available for sale securit ies sold was $ 4.2 b illion and $ 16.2 billion, respectively, which resulted in n et realized capital gains of $ 0.1 billion and $ 0.5 billion, respectively. Other Securities Measured at Fair Value The following table presents the fair value of other securities measured at fair value based on our election of the fair value option: September 30, 2015 December 31, 2014 Fair Percent Fair Percent (in millions) Value of Total Value of Total Fixed maturity securities: U.S. government and government sponsored entities $ 3,813 21 % $ 5,498 27 % Obligations of states, municipalities and political subdivisions 75 - 122 1 Non-U.S. governments 2 - 2 - Corporate debt 1,249 7 719 3 Mortgage-backed, asset-backed and collateralized : RMBS 2,285 13 2,094 10 CMBS 819 5 1,077 5 CDO/ABS and other collateralized * 8,579 48 10,200 49 Total mortgage-backed, asset-backed and collateralized 11,683 66 13,371 64 Total fixed maturity securities 16,822 94 19,712 95 Equity securities 1,066 6 1,049 5 Total $ 17,888 100 % $ 20,761 100 % * Includes $ 748 million and $ 859 million of U.S. Government agency- backed ABS at September 30, 2015 and December 31, 2014 , respectively. Net Investment Income The following table presents the components of Net i nvestment i ncome: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 Fixed maturity securities, including short-term investments $ 2,794 $ 3,022 $ 8,477 $ 9,264 Equity securities (5) 135 76 67 Interest on mortgage and other loans 360 318 1,046 947 Alternative investments * 88 636 1,471 2,108 Real estate 66 25 116 86 Other investments 36 25 86 34 Total investment income 3,339 4,161 11,272 12,506 Investment expenses 133 133 402 398 Net investment income $ 3,206 $ 4,028 $ 10,870 $ 12,108 * Includes hedge funds, private equity funds, affordable housing partnerships, investments in life settlements and other investment partnerships. Net Realized Capital Gains and Losses The following table presents the components of Net realized capital gains (losses) : Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 Sales of fixed maturity securities $ (16) $ 97 $ 150 $ 463 Sales of equity securities 16 29 528 92 Other-than-temporary impairments: Severity (10) - (12) - Change in intent (81) (14) (193) (20) Foreign currency declines (5) (3) (37) (13) Issuer-specific credit events (176) (31) (314) (124) Adverse projected cash flows (1) (2) (9) (7) Provision for loan losses 32 (11) 43 9 Foreign exchange transactions (16) 350 304 329 Derivative instruments 13 102 509 (114) Impairments on investments in life settlements (58) (52) (200) (139) Other (40) 71 356 * 70 Net realized capital gains (losses) $ (342) $ 536 $ 1,125 $ 546 * Includes realized gains due to the sale of Class B shares of Prudential Financial, Inc. and common shares of Spring l eaf Holdings, Inc. and realized losses on the sale of ordinary shares of AerCap . Change in Unrealized Appreciation (Depreciation) of Investments The following table presents the increase (decrease) in unrealized appreciation (depreciation) of our available for sale securities and other investments: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ (1,180) $ (1,515) $ (5,583) $ 6,123 Equity securities (384) 303 (479) 348 Other investments (85) 94 (625) 127 Total Increase (decrease) in unrealized appreciation (depreciation) of investments $ (1,649) $ (1,118) $ (6,687) $ 6,598 Evaluating Investments for Other-Than-Temporary Impairments For a discussion of our policy for evaluating investments for other-than-temporary impairments, see Note 6 to the Consolidated Financial Statements in the 2014 Annual Report. Credit Impairments The following table presents a rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings for available for sale fixed maturity s ecurities: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 2,238 $ 3,166 $ 2,659 $ 3,872 Increases due to: Credit impairments on new securities subject to impairment losses 51 13 101 35 Additional credit impairments on previously impaired securities 37 5 84 59 Reductions due to: Credit impaired securities fully disposed of for which there was no prior intent or requirement to sell (63) (116) (213) (528) Credit impaired securities for which there is a current intent or anticipated requirement to sell (1) - (1) - Accretion on securities previously impaired due to credit * (197) (183) (565) (544) Other - - - (9) Balance, end of period $ 2,065 $ 2,885 $ 2,065 $ 2,885 * Represents both accretion recognized due to changes in cash flows expected to be collected over the remaining expected term of the credit impaired securities and the accretion due to the passage of time. Purchased Credit Impaired (PCI) Securities We purchase certain RMBS securities that have experienced deterioration in credit quality since their issuance. We determine, based on our expectations as to the timing and amount of cash flows expected to be received, whether it is probable at acquisition th at we will not collect all contractually required payments for these PCI securities, including both principal and interest after considering the effects of prepayments. At acquisition, the timing and amount of the undiscounted future cash flows expected to be received on each PCI security is determined based on our best estimate using key assumptions, such as interest rates, default rates and prepayment speeds. At acquisition, the difference between the undiscounted expected future cash flows of the PCI sec urities and the recorded investment in the securities represents the initial accretable yield, which is accreted into Net investment income over their remaining lives on a level - yield basis. Additionally, the difference between the contractually required p ayments on the PCI securities and the undiscounted expected future cash flows represents the non - accretable difference at acquisition. The accretable yield and the non - accretable difference will change over time, based on actual payments received and chang es in estimates of undiscounted expected future cash flows, which are discussed further below. On a quarterly basis, the undiscounted expected future cash flows associated with PCI securities are re - evaluated based on updates to key assumptions. Declines i n undiscounted expected future cash flows due to further credit deterioration as well as changes in the expected timing of the cash flows can result in the recognition of an other -than -temporary impairment charge, as PCI securities are subject to our polic y for evaluating investments for other - than - temporary impairment. Changes to undiscounted expected future cash flows due solely to the changes in the contractual benchmark interest rates on variable rate PCI securities will change the accretable yield pros pectively. Significant increases in undiscounted expected future cash flows for reasons other than interest rate changes are recognized prospectively as adjustments to the accretable yield . The following tables present information on our PCI securities , which are included in bonds available for sale: (in millions) At Date of Acquisition Contractually required payments (principal and interest) $ 32,656 Cash flows expected to be collected * 26,444 Recorded investment in acquired securities 17,662 * Represents undiscounted expected cash flows, including both principal and interes t . (in millions) September 30, 2015 December 31, 2014 Outstanding principal balance $ 17,017 $ 16,962 Amortized cost 12,408 12,216 Fair value 13,426 13,462 The following table presents activity for the accretable yield on PCI securities: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 6,833 $ 7,042 $ 6,865 $ 6,940 Newly purchased PCI securities 136 358 551 1,127 Disposals - - (13) - Accretion (220) (223) (661) (654) Effect of changes in interest rate indices 4 (96) (140) (327) Net reclassification from (to) non-accretable difference, including effects of prepayments 180 30 331 25 Balance, end of period $ 6,933 $ 7,111 $ 6,933 $ 7,111 Pledged Investments Secured Financing and Similar Arrangements We enter into secured financing transactions whereby certain securities are sold under agreements to repurchase (repurchase agreements), in which we transfer securities in exchange for cash, with an agreement by us to repurchase the same or substantially similar securities. At September 30, 2015 , our secured financing transactions also include those that involve the transfer of securities to financial institutions in exchange for cash (secur ities lend ing agreements). In all of these secured financing transactions, the securities transferred by us (pledged collateral) may be sold or re pledged by the counterparties. These agreements are recorded at their contracted amounts plus accrued interest , other than those that are accounted for at fair value. Pledged collateral levels are monitored daily and are generally maintained at an agreed-upon percentage of the fair value of the amounts borrowed during the life of the transactions. In the event of a decline in the fair value of the pledged collateral under these secured financing transactions, we may be required to transfer cash or additional securities as pledged collateral under these agreements. At the termination of the transactions, we and ou r counterparties are obligated to return the amounts borrowed and the securities transferred, respectively. The following table presents the fair value of securities pledged to counterparties under secured financing transactions, including repurchase and s ecurities lending agreements: (in millions) September 30, 2015 December 31, 2014 Fixed maturity securities available for sale $ 996 $ - Other bond securities, at fair value $ 994 $ 2,122 At September 30, 2015 , amounts borrowed under repurchase and securities lending agreements totaled $ 1.9 billion . At September 30, 2015 , outstanding overnight and continuous repurchase agreements were collateralized by U.S. government bond securities, at fair value, of $ 155 million. R epurchase agreements with remaining contractual maturities of 31 - 90 days , 91 - 364 days and 365 days or greater were collateralized by C orporate bond securities, at fair value, of $ 73 million , $ 690 million, and $ 76 milli on, respectively. Repurchase agreements with remaining contractual maturities up to 30 days were collateralized by U.S. government bond securities, available for sale, of $ 15 million. Securities lending agreements outst anding at September 30, 2015 had remaining contractual maturities of 31 - 90 days and the securities pledged to counterparties included $ 856 million of Corporate bond securities and $ 125 million of Non-U.S. g overnment securities, all classified as available for sale. We also enter into agreements in which securities are purchased by us under agreements to resell (reverse repurchase agreements), which are accounted for as secured financing transactions and reported as short-term investments or other assets, depending on their terms. These agreements are recorded at their contracted resale amounts plus accrued interest, other than those that a re accounted for at fair value. In all r everse repurchase transactions, we take possession of or obtain a security interest in the related securities, and we have the right to sell or repledge this collateral received. The following table presents information on the fair value of securities pledged to us under reverse repurchase agreements: (in millions) September 30, 2015 December 31, 2014 Securities collateral pledged to us $ 2,969 $ 2,506 Amount sold or repledged by us $ 126 $ 131 Insurance - Statutory and Other Deposits Total carrying values of cash and securities deposited by our insurance subsidiaries under requirements of regulatory authorities or other insurance-related arrangements, including certain annuity-related obligations and certain reinsurance treaties , were $ 5.5 billion and $ 5.9 billion at September 30, 2015 and December 31, 2014 , respectively. Other Pledges and Restrictions Certain of our subsidiaries are members of Federal Home Loan Banks (FHLBs) and such membership requires the members to own stock in these FHLBs. We owned an aggregate of $ 48 million and $ 44 mil lion of stock in FHLBs at September 30, 2015 and December 31, 2014 , respectively. In addition, our subsidiaries have pledged securities available for sale with a fair value of $ 1.2 b illion and $ 0.5 billion at September 30, 2015 and December 31, 2014 , respectively , associated with advances from the FHLBs. Certain GIA s have provisions that require collateral to be posted or payments to be made by us upo n a downgrade of our long-term debt ratings. The actual amount of collateral required to be posted to the counterparties in the event of such downgrades, and the aggregate amount of payments that we could be required to make, depend on market conditions, t he fair value of outstanding affected transactions and other factors prevailing at and after the time of the downgrade. The fair value of securities pledged as collateral with respect to these obligations was approximate ly $ 2.6 billion and $ 3.5 billion at September 30, 2015 and December 31, 2014 , respectively . This collateral primarily consists of securities of the U.S. government and government sponsored entities and gener ally cannot be repledged or resold by the counterparties. At September 30, 2015 , $ 391 million of short-term investments were held in escrow accounts or were otherwise subject to restriction as to their use.

LENDING ACTIVITIES

LENDING ACTIVITIES	9 Months Ended
	Sep. 30, 2015
LENDING ACTIVITIES
LENDING ACTIVITIES	6. LENDING ACTIVITIES The following table presents the composition of Mortgage and other loans rec eivable, net : September 30, December 31, (in millions) 2015 2014 Commercial mortgages * $ 20,818 $ 18,909 Life insurance policy loans 2,625 2,710 Commercial loans, other loans and notes receivable 4,999 3,642 Total mortgage and other loans receivable 28,442 25,261 Allowance for losses (206) (271) Mortgage and other loans receivable, net $ 28,236 $ 24,990 * Commercial mortgages primarily represent loans for office s , retail , apartments and industrial properties, with exposures in California and New York representing the largest geographic concentrations ( aggregating approximately 12 percent and 21 percent , respectively, at September 30, 2015 , and 14 percent and 18 percent , respectively, at December 31, 2014 ) . The following table presents the credit quality indicators for commercial mortgag es : Number Percent of Class of (dollars in millions) Loans Apartments Offices Retail Industrial Hotel Others Total (c) Total $ September 30, 2015 Credit Quality Indicator: In good standing 956 $ 3,628 $ 7,375 $ 4,435 $ 1,980 $ 1,972 $ 1,030 $ 20,420 98 % Restructured (a) 9 - 150 25 18 16 6 215 1 90 days or less delinquent 5 - - - 6 - - 6 - >90 days delinquent or in process of foreclosure 5 - 177 - - - - 177 1 Total (b) 975 $ 3,628 $ 7,702 $ 4,460 $ 2,004 $ 1,988 $ 1,036 $ 20,818 100 % Allowance for loan losses $ 29 $ 62 $ 35 $ 14 $ 13 $ 9 $ 162 1 % December 31, 2014 Credit Quality Indicator: In good standing 1,007 $ 3,384 $ 6,100 $ 3,807 $ 1,689 $ 1,660 $ 1,812 $ 18,452 98 % Restructured (a) 7 - 343 7 - 17 - 367 2 90 days or less delinquent 6 - - 10 - - 5 15 - >90 days delinquent or in process of foreclosure 4 - 75 - - - - 75 - Total (b) 1,024 $ 3,384 $ 6,518 $ 3,824 $ 1,689 $ 1,677 $ 1,817 $ 18,909 100 % Allowance for loan losses $ 3 $ 86 $ 28 $ 22 $ 6 $ 14 $ 159 1 % (a) Loans that have been modified in troubled debt restructurings and are performing according to their restructured terms. For additional discussion of troubled debt restructurings , see Note 7 to the Consolidated Financial Statements in the 2014 Annual Report . (b) Does not reflect Allowance for loan l osses . (c) Over 99 percent of the commercial mortgages held at such respective dates were current as to payments of principal and interest . Allowance for Loan Losses See Not e 7 to the Consolidated Financial Statements in the 2014 Annual Report for a discussion of our accounting policy for evaluating Mortgage and other loans receivable for impairment. The following table presents a rollforward of the changes in the allowance for losses on Mortgage and other loans receivable: 2015 2014 Nine Months Ended September 30, Commercial Other Commercial Other (in millions) Mortgages Loans Total Mortgages Loans Total Allowance, beginning of year $ 159 $ 112 $ 271 $ 201 $ 111 $ 312 Loans charged off (23) (6) (29) (10) (13) (23) Recoveries of loans previously charged off 4 1 5 - 16 16 Net charge-offs (19) (5) (24) (10) 3 (7) Provision for loan losses 22 (66) (44) (16) (6) (22) Other - 3 3 - 1 1 Allowance, end of period $ 162 * $ 44 $ 206 $ 175 * $ 109 $ 284 * Of the total allowance , $ 24 million and $ 86 million relate to individually assessed credit losses on $ 512 million and $ 246 million of commercial mortgage loans at September 30, 2015 and 2014 , respectively. During the nine -month periods ended September 30, 2015 and 2014 , loans with a carrying value of $ 42 million and $ 83 million, respectively, were modified in troubled debt restructurings.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2015
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES	7. VARIABLE INTEREST ENTITIES We enter into various arrangements with VIEs in the normal course of business and consolidate the VIEs when we determine we are the primary beneficiary. This analysis includes a review of the VIE’s capital structure, related contractual relationships and terms, nature of the VIE’s operations and purpose, nature of the VIE’s interests issued and our involvement with the entity. When assessing the need to consolidate a VIE, we evaluate the design of the VIE as well as the relat ed risks the entity was designed to expose the variable interest holders to . For VIEs with attributes consistent with that of an investment company or a money market fund, the primary beneficiary is the party or group of related parties that absorbs a maj ority of the expected losses of the VIE, receives the majority of the expected residual returns of the VIE, or both. For all other VIEs , the primary beneficiary is the entity that has both (1) the power to direct the activities of the VIE that most signifi cantly affect the entity’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. While also considering these factors, the consolidation conclusion depends on the bre adth of our decision-making ability and our ability to influence activities that significantly affect the economic performance of the VIE. Balance Sheet Classification and Exposure to Loss The following table presents the total assets and total liabilities associated with our variable interests in consolidated VIEs, as classified in the Condensed Consolidated Balance Sheets: (in millions) Real Estate and Investment Entities (d) Securitization Vehicles Structured Investment Vehicle Affordable Housing Partnerships Other Total September 30, 2015 Assets: Bonds available for sale $ - $ 10,915 $ - $ - $ 24 $ 10,939 Other bond securities - 6,310 451 - 37 6,798 Mortgage and other loans receivable 1 2,104 - - 139 2,244 Other invested assets 546 583 - 2,644 23 3,796 Other (a) 54 814 73 247 91 1,279 Total assets (b)(e) $ 601 $ 20,726 $ 524 $ 2,891 $ 314 $ 25,056 Liabilities: Long-term debt $ 23 $ 1,145 $ 54 $ 1,538 $ 6 $ 2,766 Other (c) 51 249 - 186 71 557 Total liabilities $ 74 $ 1,394 $ 54 $ 1,724 $ 77 $ 3,323 December 31, 2014 Assets: Bonds available for sale $ - $ 11,459 $ - $ - $ 35 $ 11,494 Other bond securities - 7,251 615 - 40 7,906 Mortgage and other loans receivable - 2,398 - - 162 2,560 Other invested assets 577 651 - 1,684 29 2,941 Other (a) 40 1,447 140 49 76 1,752 Total assets (b) $ 617 $ 23,206 $ 755 $ 1,733 $ 342 $ 26,653 Liabilities: Long-term debt $ 69 $ 1,370 $ 52 $ 199 $ 7 $ 1,697 Other (c) 32 276 - 101 37 446 Total liabilities $ 101 $ 1,646 $ 52 $ 300 $ 44 $ 2,143 (a) Comprised primarily of Short - term investments, Premiums and other receivable s and Other a ssets at both September 30, 2015 and December 31, 2014 . (b) T he assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other l iabilities and Deriv ative liabilities, at fair value, at both September 30, 2015 and December 31, 2014 . (d) At September 30, 2015 and December 31, 2014 , off-balance sheet exposure, primarily consisting of commitments to real estate and investment entities, was $ 127.2 million and $ 56.4 millio n, respectively. (e) Includes the effect of consolidating previously unconsolidated partnerships. We calculate our maximum exposure to loss to be ( i ) the amount invested in the debt or equity of the VIE, (ii) the notional amount of VIE assets or liabilities where we have also provided credit protection to the VIE with the VIE as the re ferenced obligation, and (iii) other commitments and guarantees to the VIE. Interest holders in VIEs sponsored by us generally have recourse only to the assets and cash flows of the VIEs and do not have recourse to us, except in limited circumstances when we have provided a guarantee to the VIE’s interest holders. The following table presents total assets of unconsolidated VIEs in which we hold a variable interest, as well as our maximum exposure to loss associated with these VIEs: Maximum Exposure to Loss Total VIE On-Balance Off-Balance (in millions) Assets Sheet (a) Sheet Total September 30, 2015 Real estate and investment entities $ 21,844 $ 3,179 $ 393 $ 3,572 Affordable housing partnerships 5,262 1,004 - 1,004 Other 1,110 242 992 (b) 1,234 Total $ 28,216 $ 4,425 $ 1,385 $ 5,810 December 31, 2014 Real estate and investment entities $ 19,949 $ 2,785 $ 454 $ 3,239 Affordable housing partnerships 7,911 425 - 425 Other (c) 1,959 304 992 (b) 1,296 Total $ 29,819 $ 3,514 $ 1,446 $ 4,960 (a) At September 30, 2015 and December 31, 2014 , $ 4.1 billion and $ 3.2 billion , respectively, of our total unconsolidated VIE assets were recorded as Other invested assets. (b) These amounts represent our estimate of the maximum exposure to loss under certain insurance policies issued to VIEs if a hypothetical loss occurred to the extent of the full amount of the insured value. Our insurance policies cover defined risks and our estimate of liability is included in our insurance reserves on the balance sheet. (c ) The On-Balance and Off-Balance sheet amounts have been revised from $32 million and $0 to $304 million and $992 million, respectively, to correct the Maximum Exposure to Loss as of December 31, 2014, which are not considered material to previously issued financial statements. See Note 10 to the Consolidated Financial Statements in the 2014 Annual Report for additional information on VIEs.

DERIVATIVES AND HEDGE ACCOUNTIN

DERIVATIVES AND HEDGE ACCOUNTING	9 Months Ended
	Sep. 30, 2015
DERIVATIVES AND HEDGE ACCOUNTING
DERIVATIVES AND HEDGE ACCOUNTING	8. DERIVATIVES AND HEDGE ACCOUNTING We use derivatives and other financial instruments as part of our financial risk management programs and as part of our investment operations. See Note 11 to the Consolidated Financial Statements in the 2014 Annual Report for a discussion of our accounting policies and procedures regarding derivatives and hedge accounting. Effective July 1, 2015 , we reclassified derivatives, with the exception of embedded derivatives, in the Condensed Consolidated Balance S heets from Derivative assets, at fair value and Derivative liabilities, at fair value to Other assets and Other liabilities, respectivel y. This change had no effect on the measurement of these derivatives, which continue to be measured at fair value . Embedded derivatives continue to be generally presented with the host contract in the Condensed Consolidated Balance Sheets. Our businesses use derivatives and other instruments as part of their financial risk management. Interest rate derivatives (such as interest rate swaps) are used to manage interest rate risk associated with embedded derivatives contained in insurance contract liabilities, fixed maturity securities, outstanding medium - and long -term notes as well as other interest rate sensitive assets and liab ilities. Foreign exchange derivatives (principally foreign exchange forwards and options) are used to economically mitigate risk associated with non -U.S. dollar denominated debt, net capital exposures, and foreign currency transactions. Equity derivatives are used to mitigate financial risk embedded in certain insurance liabilities. The derivatives are effective economic hedges of the exposures that they are meant to offset. In addition to hedging activities, we also enter into derivative instruments with r espect to investment operations, which may include, among other things, CDSs and purchases of investments with embedded derivatives, such as equity -linked notes and convertible bonds . The following table presents the notional amounts of our derivative inst ruments , and the fair values of derivative assets and liabilities in the Condensed Consolidated Balance Sheets : September 30, 2015 December 31, 2014 Gross Derivative Assets Gross Derivative Liabilities Gross Derivative Assets Gross Derivative Liabilities Notional Fair Notional Fair Notional Fair Notional Fair (in millions) Amount Value Amount Value Amount Value Amount Value Derivatives designated as hedging instruments: (a) Interest rate contracts $ 915 $ 5 $ 25 $ 2 $ 155 $ - $ 25 $ 2 Foreign exchange contracts 2,380 196 1,401 68 611 25 1,794 239 Equity contracts 15 2 113 5 7 1 104 13 Derivatives not designated as hedging instruments: (a) Interest rate contracts 60,521 4,078 51,865 2,893 65,070 3,743 45,251 3,183 Foreign exchange contracts 11,904 640 9,111 1,147 13,667 815 8,516 1,251 Equity contracts (b) 6,598 173 48,033 2,341 7,565 206 42,387 1,615 Commodity contracts - - - - 15 - 11 6 Credit contracts (c) 4 3 1,323 531 5 4 5,288 982 Other contracts (d) 35,974 27 250 79 36,155 31 538 90 Total derivatives, gross $ 118,311 $ 5,124 $ 112,121 $ 7,066 $ 123,250 $ 4,825 $ 103,914 $ 7,381 Counterparty netting (e) (1,691) (1,691) (2,102) (2,102) Cash collateral (f) (2,129) (910) (1,119) (1,429) Total derivatives, net 1,304 4,465 1,604 3,850 Less: Bifurcated embedded derivatives - 2,300 - 1,577 Total derivatives on condensed consolidated balance sheets (g) $ 1,304 $ 2,165 $ 1,604 $ 2,273 ( a ) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral . (b) Notional amount of derivative assets and fair value of derivative assets, related to bifurcated embedded derivatives, were zero at both September 30, 2015 and December 31, 2014 . Notional amount of derivative liabilities and fair value of derivative liabilities, related to bifurcated embedded derivatives, was $ 42.7 billion and $ 2.3 billion, respectively, at September 30, 2015 , and $ 39.3 billion and $ 1.5 billion, respectively, at December 31, 2014 . A bifurcated embedded derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets . (c ) As of September 30, 2015 and December 31, 2014 , includes super senior multi-sector CDOs with a net notional amount of $ 1.1 billion and $ 2.6 billion (fair value liability of $ 504 million and $ 947 million), respectively. The expected weighted average maturity as of September 30, 2015 is six years. Because of long-term maturities of the credit default swaps (CDSs) in the portfolio, we are unable to make reasonable estimates of the periods during which any payments would be made. However, the net notional amount represents the maximum exposure to loss on the portfolio. As of September 30, 2015 , there were no super senior corporate debt/CLOs remaining. As of December 31, 2014 , includes super senior corporate debt/CLOs with a net notional a mount of $ 2.5 billion (fair value liability of $ 7 million). ( d ) Consists primarily of contracts with multiple underlying exposures . (e) Represents netting of derivative exposures covered by a qualifying master netting agreement. (f) Represents cash collateral posted and received that is eligible for netting. (g) Derivative assets and liabilities are recorded in Other Assets and Liabilities, respectively. Collateral We engage in derivative transactions tha t are not subject to a clearing requirement directly with unaffiliated third parties, in most cases, under International Swaps and Derivatives Association, Inc. (ISDA) Master Agreements. Many of the ISDA Master Agreements also include Credit Support Annex (CSA) provisions, which provide for collateral postings that may vary at various ratings and threshold levels. We attempt to reduce our risk with certain counterparties by entering into agreements that enable collateral to be obtained from a counterparty o n an upfront or contingent basis. We minimize the risk that counterparties might be unable to fulfill their contractual obligations by monitoring counterparty credit exposure and collateral value and generally requiring additional collateral to be posted u pon the occurrence of certain events or circumstances. In addition, certain derivative transactions have provisions that require collateral to be posted upon a downgrade of our long -term debt ratings or give the counterparty the right to terminate the tran saction. In the case of some of the derivative transactions, upon a downgrade of our long -term debt ratings, as an alternative to posting collateral and subject to certain conditions, we may assign the transaction to an obligor with higher debt ratings or arrange for a substitute guarantee of our obligations by an obligor with higher debt ratings or take other similar action. The actual amount of collateral required to be posted to counterparties in the event of such downgrades, or the aggregate amount of p ayments that we could be required to make, depends on market conditions, the fair value of outstanding affected transactions and other factors prevailing at and after the time of the downgrade. Collateral posted by us to third parties for derivative transa ctions was $ 3.1 billion and $ 3.3 billion at September 30, 2015 and December 31, 2014 , respectively . In the case of collateral posted under derivative transactions that are not subjec t to clearing, this collateral can generally be repledged or resold by the counterparties. Collateral provided to us from third parties for derivative transactions was $ 2.2 billion and $ 1.3 billion at September 30, 2015 and December 31, 2014 , respectively. W e generally can repledge or resell this collateral. Offsetting We have elected to present all derivative receivables and derivative payables, and the related cash collateral received and paid, on a net basis on the Condensed Consolidated Balance Sheets when a legally enforceable ISDA Master Agreement exists between us and our derivative counterparty. An ISDA Master Agreement is an agreement governing multiple derivative transactions between two counterparties. The ISDA Master Agreement generally provides for the net settlement of all, or a specified gr oup, of these derivative transactions, as well as transferred collateral, through a single payment, and in a single currency, as applicable. The net settlement provisions apply in the event of a default on, or affecting any, one derivative transaction or a termination event affecting all, or a specified group of, derivative transactions governed by the ISDA Master Agreement . Hedge Accounting We designated certain derivatives entered into with third parties as fair value hedges of available for sale invest ment securities held by our insurance subsidiaries. The fair value hedges include foreign currency forwards and cross currency swaps designated as hedges of the change in fair value of foreign currency denominated available for sale securities attributable to changes in foreign exchange rates. We also designated certain interest rate swaps entered into with third partie s as fair value hedges of fixed rate GICs attributable to changes in benchmark interest rates. We use foreign currency denominated debt and cross-currency swaps as hedging instruments in net investment hedge relationships to mitigate the foreign exchange risk associated with our non-U.S. dollar functional currency foreign subsidiaries. For net investment hedge relationships where issued debt is used as a hedging instrument, we assess the hedge effectiveness and measure the amount of ineffectiveness based on changes in spot rates. For net investment hedge relationships that use derivatives as hedging instruments, we assess hedge effectiveness a nd measure hedge ineffectiveness using changes in forward rates. For the three - and nine -month periods ended September 30, 2015 , we recognized gains of $ 14 million and $ 87 mill ion , respectively, and for the three - and nine -month periods ended September 30, 2014 , we recognized gains of $ 104 and $ 107 million, respectively, included in Change in foreign cur rency translation adjustment in Other comprehensive income related to the net investment hedge relationships. A qualitative methodology is utilized to assess hedge effectiveness for net investment hedges, while regression analysis is employed for all other hedges. The following table presents the gain (loss) recognized in earnings on our derivative instruments in fair value hedging relationships in the Condensed Consolidated Statements of Income (Loss): Gains/(Losses) Recognized in Earnings for: Including Gains/(Losses) Attributable to: Hedging Hedged Hedge Excluded (in millions) Derivatives (a) Items Ineffectiveness Components Other (b) Three Months Ended September 30, 2015 Interest rate contracts : Realized capital gains/(losses) $ 1 $ (1) $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - 2 - - 2 Gain/(Loss) on extinguishment of debt - 1 - - 1 Foreign exchange contracts : Realized capital gains/(losses) 81 (67) - 14 - Interest credited to policyholder account balances - - - - - Other income - 4 - - 4 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts : Realized capital gains/(losses) (4) 3 - (1) - Three Months Ended September 30, 2014 Interest rate contracts : Realized capital gains/(losses) $ - $ - $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - 10 - - 10 Gain/(Loss) on extinguishment of debt - - - - - Foreign exchange contracts : Realized capital gains/(losses) (76) 91 - 9 6 Interest credited to policyholder account balances - (1) - - (1) Other income - 7 - - 7 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts Realized capital gains/(losses) 4 (6) - (2) - Nine Months Ended September 30, 2015 Interest rate contracts : Realized capital gains/(losses) $ 1 $ (1) $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - 7 - - 7 Gain/(Loss) on extinguishment of debt - 14 - - 14 Foreign exchange contracts : Realized capital gains/(losses) 152 (123) - 27 2 Interest credited to policyholder account balances - (1) - - (1) Other income - 14 - - 14 Gain/(Loss) on extinguishment of debt - 17 - - 17 Equity contracts : Realized capital gains/(losses) (23) 21 - (2) - Nine Months Ended September 30, 2014 Interest rate contracts : Realized capital gains/(losses) $ 1 $ (2) $ - $ - $ (1) Interest credited to policyholder account balances 1 (1) - - - Other income - 38 - - 38 Gain/(Loss) on extinguishment of debt - 50 - - 50 Foreign exchange contracts : Realized capital gains/(losses) (20) 32 - (3) 15 Interest credited to policyholder account balances - (2) - - (2) Other income - 7 - - 7 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts Realized capital gains/(losses) (10) 8 - (2) - ( a ) The amounts presented do not include the periodic net coupon settlements of the derivative contract or the coupon income (expense) related to the hedged item. (b) Represents accretion/amortization of opening fair value of the hedged item at inception of hedge relationship, amortization of basis adjustment on hedged item following the discontinuation of hedge accounting, and the release of debt basis adjustment following the repurchase of issued debt that was part of previously-discontinued fair value h edge relationship. Derivatives Not Designated as Hedging Instruments The following table presents the effect of derivative instruments not designated as hedging instruments i n the Condensed Consolidated Statement s of Income (Loss) : Gains (Losses) Recognized in Earnings Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 By Derivative Type: Interest rate contracts $ 469 $ 222 $ 402 $ 409 Foreign exchange contracts 51 253 321 276 Equity contracts * (586) (159) (39) (584) Commodity contracts - (2) (1) (1) Credit contracts 11 75 171 229 Other contracts 71 44 60 83 Total $ 16 $ 433 $ 914 $ 412 By Classification: Policy fees $ 20 $ 19 $ 59 $ 49 Net investment income 6 24 20 20 Net realized capital gains (losses) 20 79 496 (114) Other income (losses) (36) 309 334 447 Policyholder benefits and claims incurred 6 2 5 10 Total $ 16 $ 433 $ 914 $ 412 * Includes embedded derivative losses of $ (816) million and $ (147) million for the three - and nine -month periods ended September 30, 2015 , respectively, and embedded derivative losses of $ (86) million and $ (428) million for the three - and nine -month periods ended September 30, 2014 , respectively. Credit Risk-Related Contingent Features The aggregate fair value of our derivative instruments that contain credit risk - related contingent features that were in a net liability position at September 30, 2015 and December 31, 2014 , was approximately $ 2.2 billion and $ 2.5 billion, respectively . The aggregate fair value of assets posted as collateral under these contracts at September 30, 2015 and December 31, 2014 , was $ 2.3 billion and $ 2.7 billion, respectively. We estimate that at September 30, 2015 , based on our outstanding financial derivative transactions, a one - notch downgrade of our long -term sen ior debt ratings to BBB+ by Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw -Hill Companies, Inc. (S&P), would permit counterparties to make additional collateral calls and permit certain counterparties to elect early termination of con tracts, resulting in approximately $ 12 million in additional collateral postings and termination payments; a one - notch downgrade to Baa2 by Moody’s Investors’ Service, Inc. (Moody’s) and an additional one - notch downgrade to BBB by S&P would result in ap proximately $ 46 million in additional collateral postings and termination payments; and a further one - notch downgrade to Baa3 by Moody’s and BBB - by S&P would result in approximately $ 118 million in additional collateral postings and termination payments . Additional collateral postings upon downgrade are estimated based on the factors in the individual collateral posting provisions of the CSA with each counterparty and current exposure as of September 30, 2015 . Factors considered in estimating the termination payments upon downgrade include current market conditions, the complexity of the derivative transactions, historical termination experience and other observable market events such as bankruptcy and dow ngrade events that have occurred at other companies. Our estimates are also based on the assumption that counterparties will terminate based on their net exposure to us. The actual termination payments could significantly differ from our estimates given ma rket conditions at the time of downgrade and the level of uncertainty in estimating both the number of counterparties who may elect to exercise their right to terminate and the payment that may be triggered in connection with any such exercise . Hybrid Securities with Embedded Credit Derivatives We invest in hybrid securities (such as credit - linked notes) with the intent of generating income, and not specifically to acquire exposure to embedded derivative risk. As is the case with our other investments in RMBS, CMBS, CDOs and ABS, our investments in these hybrid securities are exposed to losses only up to the amount of our initial investment in the hybrid security. Other than our initial investment in the hybrid securities, we have no further obligation to make payments on the embedded credit derivatives in the related hybrid securities . We elect to account for our investments in these hybrid securities with embedded written credit derivatives at fair value, with changes in fair value recognized in Net investment income and Other income. Our investments in these hybrid securities are reported as Other bond securities in the Condensed Consolidated Balance Sheets. The fair values of these hybrid securities were $ 5.7 billion and $ 6.1 billion at September 30, 2015 and December 31, 2014 , respe ctively . These securities have par amounts of $ 11.5 billion and $ 12.3 billion at September 30, 2015 and December 31, 2014 , respectively, and have remaining stated maturity dates that extend to 20 5 5 .

CONTINGENCIES, COMMITMENTS AND

CONTINGENCIES, COMMITMENTS AND GUARANTEES	9 Months Ended
	Sep. 30, 2015
CONTINGENCIES, COMMITMENTS AND GUARANTEES
CONTINGENCIES, COMMITMENTS AND GUARANTEES	9. CONTINGENCIES, COMMITMENTS AND GUARANTEES In the normal course of business, various contingent liabilities and commitments are entered into by AIG and our subsidiaries. In addition, AIG Parent guarantees various obligations of certain subsidiaries. Although AIG cannot currently quantify its ultimate liability for unresolved litigation and investigation matters, including those referred to below, it is possible that such liability could have a material adverse effect on AIG’s consolidated financial co ndition or its consolidated results of operations or consolidated cash flows for an individual reporting period. Legal Contingencies Overview . In the normal course of business, AIG and our subsidiaries are, like others in the insurance and financial ser vices industries in general, subject to litigation, including claims for punitive damages. In our insurance and mortgage guaranty operations, litigation arising from claims settlement activities is generally considered in the establishment of our liability for unpaid losses and loss adjustment expenses. However, the potential for increasing jury awards and settlements makes it difficult to assess the ultimate outcome of such litigation. AIG is also subject to derivative, class action and other claims assert ed by its shareholders and others alleging, among other things, breach of fiduciary duties by its directors and officers and violations of insurance laws and regulations, as well as federal and state securities laws. In the case of any derivative action br ought on behalf of AIG, any recovery would accrue to the benefit of AIG. Various regulatory and governmental agencies have been reviewing certain transactions and practices of AIG and our subsidiaries in connection with industry-wide and other inquiries into, among other matters, certain business practices of current and former operating insurance subsidiaries. We have cooperated, and will continue to cooperate, in producing documents and other information in response to subpoenas and other requests. AIG’ s Subprime Exposure, AIGFP Credit Default Swap Portfolio and Related Matters AIG, AIG Financial Products Corp. and related subsidiaries (collectively AIGFP), and certain directors and officers of AIG, AIGFP and other AIG subsidiaries have been named in v arious actions relating to our exposure to the U.S. residential subprime mortgage market, unrealized market valuation losses on AIGFP’s super senior credit default swap portfolio, losses and liquidity constraints relating to our securities lending program and related disclosure and other matters (Subprime Exposure Issues). Consolidated 2008 Securities Litigation. On May 19, 2009, a consolidated class action complaint, resulting from the consolidation of eight purported securities class actions filed between May 2008 and January 2009, was filed against AIG and certain directors and officers of AIG and AIGFP, AIG’s outside auditors, and the underwriters of various securities offerings in the United States District Court for the Southern District o f New York (the Southern District of New York) in In re American International Group, Inc. 2008 Securities Litigation (the Consolidated 2008 Securities Litigation), asserting claims under the Securities Exchange Act of 1934, as amended (the Exchange Act) a nd claims under the Securities Act of 1933, as amended (the Securities Act) for allegedly materially false and misleading statements in AIG’s public disclosures from March 16, 2006 to September 16, 2008 relating to, among other things, the Subprime Exposur e Issues. On July 15, 2014 and August 1, 2014, lead plaintiff, AIG and AIG’s outside auditor accepted mediators’ proposals to settle the Consolidated 2008 Securities Litigation against all defendants. On October 22, 2014, AIG made a cash payment of $ 960 million, which is being held in escrow until all funds are distributed. On March 20, 2015, the Court issued an Order and Final Judgment approving the class settlement and dismissing the action with prejudice, and the AIG settlement became fin al on June 29, 2015. Individual Securities Litigations. Between November 18, 2011 and February 9, 2015, eleven separate, though similar, securities actions (Individual Securities Litigations) were filed asserting claims substantially similar to those in th e Consolidated 2008 Securities Litigation against AIG and certain directors and officers of AIG and AIGFP (one such action also names as a defendant AIG’s outside auditor and two such actions also name as defendants the underwriters of various securities o fferings). Two of the actions were voluntarily dismissed. On September 10, 2015, the Southern District of New York granted AIG’s motion to dismiss some of the claims in the Individual Securities Litigations in wh ole or in part. AIG has settled seven of t he nine remaining actions. On March 27, 2015, an additional securities action was filed in state court in Orange County, California asserting a claim against AIG pursuant to Section 11 of the Securities Act (the California Action) that is substantially similar to those in the Consolidated 2008 Securities Litigation and the two remaining Individual Securities Litigations pending in t he Southern District of New York. On July 10, 2015, AIG filed a motion to stay the California Actio n. On September 18, 2015, the court denied AIG’s motion to stay the California Action. On September 23, 2015, AIG filed an appeal of the court’s denial. On April 29, 2015, AIG filed a complaint for declaratory relief in the Southern District of New York se eking a declaration that the Section 11 claims filed in the California Action are time-barred (the SDNY Action). On July 10, 2015, AIG filed a motion for summary judgment and the plaintiff in the California Action cross moved to dismiss the SDNY Action. We have accrued our current estimate of probable loss with respect to these litigations. ERISA Actions – Southern District of New York. On December 19, 2014, a third consolidated amended complaint, resulting from the consolidation of purported class action s filed between June 25, 2008 and November 25, 2008, was filed against AIG, certain directors and officers of AIG, and members of AIG’s Retirement Board and Investment Committee in In re American International Group, Inc. ERISA Litigation II (the Consolida ted 2008 ERISA Litigation) , asserting claims under the Employee Retirement Income Security Act of 1974, as amended (ERISA), purportedly on behalf of a class of all participants in or beneficiaries of certain benefit plans of AIG and its subsidiaries that o ffered shares of AIG Common Stock. The complaint alleged, among other things, that the defendants breached their fiduciary responsibilities to plan participants and their beneficiaries under ERISA, by continuing to offer the AIG Stock Fund as an investment option in the plans after it allegedly became imprudent to do so. The alleged ERISA violations relate to, among other things, the defendants’ purported failure to monitor and/or disclose certain matters, including the Subprime Exposure Issues. On January 6, 2015, the parties informed the Court that they had accepted a mediator’s proposal to settle the action for $ 40 million. On September 18, 2015, the Court issued an Order and Final Judgment approving the class settlement and dismiss ed the action with prejudice. The entirety of the $ 40 million settlement will be paid by AIG’s fiduciary liability insurance carriers. Canadian Securities Class Action – Ontario Superior Court of Justice . On November 12, 2008, an appl ication was filed in the Ontario Superior Court of Justice for leave to bring a purported class action against AIG, AIGFP, certain directors and officers of AIG and Joseph Cassano , the former Chief Executive Officer of AIGFP, pursuant to the Ontario Securities Act. The proposed statement of claim would assert a class period of March 16, 2006 through September 16, 2008 and would allege th at during this period defendants made false and misleading statements and omissions in quarterly and annual reports and during oral presentations in violation of the Ontario Securities Act. The proposed statement of claim further alleges general and special damages of $ 500 million and punitive damages of $ 50 million plus prejudgment interest or such other sums as the Court finds appropriate. On April 17, 2009, defendants filed a motion record in support of their motion to stay or dismiss for lack of jurisdiction and forum non conveniens . Thereafter, the Court stayed the action pending further developments in the Consolidated 2008 Securities Litigation. On June 29, 2015, counsel for AIG and AIGFP provided notice to counsel for plaintiff in the action that a final order approving the settlement in the Consolidated 2008 Securities Litigation was entered and can no longer be appealed . Plaintiff did not move to lift the stay in the time allotted by the Ontario Superior Court’s stay order and, as a result, the action is now permanently stayed. Starr International Litigation On November 21, 2011, Starr International Company, Inc. (SICO) filed a complaint against the United States in the United States Court of Federal Claims (the Court of Federal Claims), bringing claims, both individually and on behalf of the classes defined b elow and derivatively on behalf of AIG (the SICO Treasury Action). The complaint challenges the government’s assistance of AIG, pursuant to which AIG entered into a credit facility with the Federal Reserve Bank of New York (the FRBNY, and such credit facil ity, the FRBNY Credit Facility) and the United States received an approximately 80 percent ownership in AIG. The complaint alleges that the interest rate imposed on AIG and the appropriation of approximately 80 percent of AIG’s eq uity was discriminatory, unprecedented, and inconsistent with liquidity assistance offered by the government to other comparable firms at the time and violated the Equal Protection, Due Process, and Takings Clauses of the U.S. Constitution. In the SICO Tre asury Action, the only claims naming AIG as a party (as a nominal defendant) are derivative claims on behalf of AIG. On September 21, 2012, SICO made a pre -litigation demand on our Board demanding that we pursue the derivative claims or allow SICO to pursu e the claims on our behalf. On January 9, 2013, our Board unanimously refused SICO’s demand in its entirety and on January 23, 2013, counsel for the Board sent a letter to counsel for SICO describing the process by which our Board considered and refused SI CO’s demand and stating the reasons for our Board’s determination. On March 11, 2013, SICO filed a second amended complaint in the SICO Treasury Action alleging that its demand was wrongfully refused. On June 26, 2013, the Court of Federal Claims granted A IG’s and the United States’ motions to dismiss SICO’s derivative claims in the SICO Treasury Action due to our Board’s refusal of SICO’s demand and denied the United States’ motion to dismiss SICO’s direct, non-derivative claims. On March 11, 2013, the Cou rt of Federal Claims in the SICO Treasury Action granted SICO’s motion for class certification of two classes with respect to SICO’s non -derivative claims: (1) persons and entities who held shares of AIG Common Stock on or before September 16, 2008 and who owned those shares on September 22, 2008 (the Credit Agreement Shareholder Class); and (2) persons and entities who owned shares of AIG Common Stock on June 30, 2009 and were eligible to vote those shares at AIG’s June 30, 2009 annual mee ting of shareholders (the Reverse Stock Split Shareholder Class). SICO has provided notice of class certification to potential members of the classes, who, pursuant to a court order issued on April 25, 2013, had to return opt -in consent forms by September 16, 2013 to participate in either class. 286,908 holders of AIG Common Stock during the two class periods have opted into the classes. On June 15, 2015, the Court of Federal Claims issued its opinion and order in the SICO Treasury Action. Th e Court found that the United States exceeded its statutory authority by exacting approximately 80 percent of AIG’s equity in exchange for the FRBNY Credit Facility, but that AIG shareholders suffered no damages as a result. SICO argued during trial that the two classes are entitled to a total of approximately $ 40 billion in damages, plus interest. The Court also found that the United States was not liable to the Reverse Stock Split Class in connection with the reverse s tock split vote at the June 30, 2009 annual meeting of shareholders. On June 17, 2015, the Court of Federal Claims entered judgment stating that “the Credit Agreement Shareholder Class shall prevail on liability due to the Government's illegal exaction, bu t shall recover zero damages, and that the Reverse Stock Split Shareholder Class shall not prevail on liability or damages.” SICO filed a notice of appeal of the July 2, 2012 dismissal of SICO’s unconstitutional conditions claim, the June 26, 2013 dismiss al of SICO’s derivative claims, the Court’s June 15, 2015 opinion and order, and the Court’s June 17, 2015 judgment to the United States Court of Appeals for the Federal Circuit. The United States filed a notice of cross appeal of the Court’s July 2, 2012 opinion and order denying in part its motion to dismiss, the Court’s June 26, 2013 opinion and order denying its motion to dismiss SICO’s direct claims, the Court’s June 15, 2015 opinion and order, and the Court’s June 17, 2015 judgment to the United State s Court of Appeals for the Federal Circuit. On August 25, 2015, SICO filed its appellate brief, in which it stated SICO does not appeal the dismissal of the derivative claims it asserted on behalf of AIG. In the Court of Federal Claims, the United States h as alleged, as an affirmative defense in its answer, that AIG is obligated to indemnify the FRBNY and its representatives, including the Federal Reserve Board of Governors and the United States (as the FRBNY’s principal), for any recovery in the SICO Treas ury Action. AIG believes that any indemnification obligation would arise only if: (a) SICO prevails on its appeal and ultimately receives an award of damages; (b) the United States then commences an action against AIG seeking indemnification; and (c) the U nited States is successful in such an action through any appellate process. If SICO prevails on its claims and the United States seeks indemnification from AIG, AIG intends to assert defenses thereto. A reversal of the Court of Federal Claim’s June 17, 201 5 decision and judgment and a final determination that the United States is liable for damages, together with a final determination that AIG is obligated to indemnify the United States for any such damages, could have a material adverse effect on our busin ess, consolidated financial condition and results of operations. False Claims Act Complaint On February 25, 2010, a complaint was filed in the United States District Court for the Southern District of California by two individuals ( Relators) seeking to assert claims on behalf of the United States against AIG and certain other defendants, including Goldman Sachs and Deutsche Bank, under the False Claims Act. Relators filed a first amended complaint on September 30, 2010, adding certai n additional defendants, including Bank of America and Société Générale . The first amended complaint alleged that defendants engaged in fraudulent business practices in respect of their activities in the over-the-counter market for collateralized debt obli gations, and submitted false claims to the United States in connection with the FRBNY Credit Facility and Maiden Lane II LLC and Maiden Lane III LLC entities (the Maiden Lane Interests) through, among other things, misrepresenting AIG’s ability and intent to repay amounts drawn on the FRBNY Credit Facility, and misrepresenting the value of the securities that the Maiden Lane Interests acquired from AIG and certain of its counterparties. The first amended complaint sought unspecified damages pursuant to the False Claims Act in the amount of three times the damages allegedly sustained by the United States as well as interest, attorneys’ fees, costs and expenses. The complaint and the first amended complaint were initially filed and mai ntained under seal while the United States considered whether to intervene in the action. On or about April 28, 2011, after the United States declined to intervene, the District Court lifted the seal, and Relators served the first amended complaint on AIG on July 11, 2011. On April 19, 2013, the Court granted AIG’s motion to dismiss, dismissing the first amended complaint in its entirety, without prejudice, giving the Relators the opportunity to file a second amended complaint. On May 24, 2013, the Relators filed a second amended complaint, which attempted to plead the same claims as the prior complaints and did not specify an amount of alleged damages. AIG and its co-defendants filed motions to dismiss the second amended complaint on August 9, 2013. On Marc h 29, 2014, the Court dismissed the second amended complaint with prejudice. On April 30, 2014, the Relators filed a Notice of Appeal to the Ninth Circuit. We are unable to reasonably estimate the possible loss or range of losses, if any, arising from the litigation. Litigation Matters Relating to AIG’s Insurance Operations Caremark. AIG and certain of its subsidiaries have been named defendants in two putative class actions in state court in Alabama that arise out of the 1999 settlement of class and derivative litigation involving Caremark Rx, Inc. (Caremark). The plaintiffs in the second -filed action intervened in the first -filed action, and the second -filed action was dismissed. An excess policy issued by a subsidiary of AIG with respe ct to the 1999 litigation was expressly stated to be without limit of liability. In the current actions, plaintiffs allege that the judge approving the 1999 settlement was misled as to the extent of available insurance coverage and would not have approved the settlement had he known of the existence and/or unlimited nature of the excess policy. They further allege that AIG, its subsidiaries, and Caremark are liable for fraud and suppression for misrepresenting and/or concealing the nature and extent of cove rage. The complaints filed by the plaintiffs and the intervenors request compensatory damages for the 1999 class in the amount of $ 3.2 billion, plus punitive damages. AIG and its subsidiaries deny the allegations of fraud and suppressi on, assert that information concerning the excess policy was publicly disclosed months prior to the approval of the settlement, that the claims are barred by the statute of limitations, and that the statute cannot be tolled in light of the public disclosur e of the excess coverage. The plaintiffs and intervenors , in turn, have asserted that the disclosure was insufficient to inform them of the nature of the coverage and did not start the running of the statute of limitations. On August 15, 2012, the trial co urt entered an order granting plaintiffs’ motion for class certification, and on September 12, 2014, the Alabama Supreme Court affirmed that order. AIG and the other defendants’ petition for rehearing of that decision was denied on February 27, 2015. The m atter has been remanded to the trial court for general discovery and adjudication of the merits. Trial is expected to commence on February 22, 2016. We have accrued our current estimate of loss with respect to this litigation. Regulatory and Related Matter s In April 2007, the National Association of Insurance Commissioners (NAIC) formed a Settlement Review Working Group, directed by the State of Indiana, to review the Workers’ Compensation Residual Market Assessment portion of the settlement between AIG, th e Office of the New York Attorney General, and the New York State Department of Insurance. In late 2007, the Settlement Review Working Group, under the direction of Indiana, Minnesota and Rhode Island, recommended that a multi-state targeted market conduc t examination focusing on workers’ compensation insurance be commenced under the direction of the NAIC’s Market Analysis Working Group. AIG was informed of the multi-state targeted market conduct examination in January 2008. The lead states in the multi- state examination were Delaware, Florida, Indiana, Massachusetts, Minnesota, New York, Pennsylvania and Rhode Island. All other states (and the District of Columbia) agreed to participate in the multi-state examination. The examination focused on legacy i ssues related to certain AIG entities’ writing and reporting of workers compensation insurance between 1985 and 1996. On December 17, 2010, AIG and the lead states reached an agreement to settle all regulatory liabilities arising out of the subjects of the multistate examination. This regulatory settlement agreement, which was agreed to by all 50 states and the District of Columbia, included, among other terms, ( i ) AIG’s payment of $ 100 million in regulatory fines and penalties; (ii) AIG’s payment of $46.5 million in outstanding premium taxes and assessments; (iii) AIG’s agreement to enter into a compliance plan describing agreed-upon specific steps and standards for evaluating AIG’s ongoing compliance with state re gulations governing the setting of workers’ compensation insurance premium rates and the reporting of workers’ compensation premiums; and (iv) AIG’s agreement to pay up to $ 150 million in contingent fines in the event that AIG fails to compl y substantially with the compliance plan requirements. In furtherance of the compliance plan, the agreement provided for a monitoring period from May 29, 2012 to May 29, 2014 leading up to a compliance plan examination. After the close of the monitoring p eriod, as part of preparation for the actual conduct of the compliance plan examination, on or about October 1, 2014, AIG and the lead states agreed upon corrective action plans to address particular issues identified during the monitoring period. The com pliance plan examination is ongoing. There can be no assurance that the result of the compliance plan examination will not result in a fine, have a material adverse effect on AIG’s ongoing operations or lead to civil litigation. In connection with a multi - state examination of certain accident and health products, including travel products, issued by National Union Fire Insurance Company of Pittsburgh, Pa. (National Union), AIG Property Casualty Inc. (formerly Chartis Inc.), on behalf of itself, National Uni on, and certain of AIG Property Casualty Inc.’s insurance and non -insurance companies (collectively, the AIG PC parties) entered into a Regulatory Settlement Agreement with regulators from 50 U.S. jurisdictions effective November 29, 2012. Unde r the agreement, and without admitting any liability for the issues raised in the examination, the AIG PC parties ( i ) paid a civil penalty of $ 50 million, (ii) entered into a corrective action plan describing agreed -upon specific steps and st andards for evaluating the AIG PC parties’ ongoing compliance with laws and regulations governing the issues identified in the examination, and (iii) agreed to pay a contingent fine in the event that the AIG PC parties fail to satisfy certain terms of the corrective action plan. National Union and other AIG companies are also currently subject to civil litigation relating to the conduct of their accident and health business, and may be subject to additional litigation relating to the conduct of such busines s from time to time in the ordinary course. There can be no assurance that any regulatory action resulting from the issues identified will not have a material adverse effect on our ongoing operations of the business subject to the agreement, or on similar business written by other AIG carriers. Other Commitments In the normal course of business, we enter into commitments to invest in limited partnerships, private equit y funds and hedge funds and to purchase and develop real estate in the U.S. and abroad. These commitments totaled $ 2.6 billion at September 30, 2015 . Guarantees Subsidiaries We have issued unconditional guarantees with respect to the prompt payment, when due, of all present and future payment obligations and liabilities of AIGFP and of AIG Markets arising from transactions entered into by AIG Markets . In connection with AIGFP’s business activities, AIGFP has issued, in a limited number of transactions, standby letters of credit or similar facilities to equity investors of struct ured leasing transactions in an amount equal to the termination value owing to the equity investor by the lessee in the event of a lessee default (the equity termination value). The total amount outstanding at September 30, 2015 was $ 214 million. In those transactions, AIGFP has agreed to pay such amount if the lessee fails to pay. The amount payable by AIGFP is, in certain cases, partially offset by amounts payable under other instruments typically equal to the present value of scheduled payments to be made by AIGFP. In the event that AIGFP is required to make a payment to the equity investor, the lessee is unconditionally obligated to reimburse AIGFP. To the extent that the equity investor is paid the equity termination value f rom the standby letter of credit and/or other sources, including payments by the lessee, AIGFP takes an assignment of the equity investor’s rights under the lease of the underlying property. Because the obligations of the lessee under the lease transaction s are generally economically defeased , lessee bankruptcy is the most likely circumstance in which AIGFP would be required to pay without reimbursement . Asset Dispositions General We are subject to financial guarantees and indemnity arrangements in connection with the completed sales of businesses pursuant to our asset disposition plan. The various arrangements may be triggered by, among other things, declines in asset values, the occurrence of specified business contingencies, the realization of con tingent liabilities, developments in litigation or breaches of representations, warranties or covenants provided by us. These arrangements are typically subject to various time limitations, defined by the contract or by operation of law, such as statutes o f limitation. In some cases, the maximum potential obligation is subject to contractual limitations, while in other cases such limitations are not specified or are not applicable. We are unable to develop a reasonable estimate of the maximum potential payo ut under certain of these arrangements. Overall, we believe that it is unlikely we will have to make any material payments related to completed sales under these arrangements, and no material liabilities related to these arrangements have been recorded in the Condensed Consolidated Balance Sheet s . Other See Note 7 to the Condensed Consolidated Financial Statements for additional discussion on commitments and guarantees associated with VIEs. See Note 8 to the Condensed Consolidated Finan cial Statements for additional disclosures about derivatives. See Note 14 to the Condensed Consolidated Financial Statements for additional disclosures about guarantees of outstanding debt.

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2015
EQUITY
EQUITY	10. EQUITY Shares Outstanding The following table presents a rollforward of outstanding shares : Common Treasury Common Stock Stock Issued Stock Outstanding Nine Months Ended September 30, 2015 Shares, beginning of year 1,906,671,492 (530,744,521) 1,375,926,971 Shares issued - 355,767 355,767 Shares repurchased - (129,488,123) (129,488,123) Shares, end of period 1,906,671,492 (659,876,877) 1,246,794,615 Dividends Payment of future dividends to our shareholders and repurchases of AIG Common Stock depends in part on the regulatory framework that we are currently subject to and that will ultimately be applicable to us, including as a nonbank systemically important financial institution under the Dodd -Frank Wall Street Reform and Consumer Protection Act (Dodd -Frank) and a global systemically important insurer. In addition, dividends are payable on AIG Common Stock only when, as and if declared by our Board of Directors in its discretion, from funds legally available for this purpose. In considering whether to pay a dividend or purchase shares of AIG Common Stock, our Board of Directors considers a number of factors, including, but not limited to: the capita l resources available to support our insurance operations and business strategies, AIG’s funding capacity and capital resources in comparison to internal benchmarks, expectations for capital generation, rating agency expectations for capital, regulatory st andards for capital and capital distributions , and such other factors as our Board of Directors may deem relevant . On March 26, 2015 , AIG paid a dividend of $ 0.125 per share on AIG Common Stock to shareholders of record on Mar ch 12, 2015 . On June 25, 2015, AIG paid a dividend of $ 0.125 per share on AIG Common Stock to shareholders of record on June 11, 2015 . On September 28, 2015 , AIG paid a dividend of $ 0.28 per share on AIG Common Stock to shareholders of record on September 14, 2015 . See Note 20 to the Consolidated Financial Statements in the 2014 Annual Report for a discussion of restrictions on payments of dividends to AIG Parent by its subsid iaries . Repurchase of AIG Common Stock Our Board of Directors has authorized the repurchase of shares of AIG Common Stock throu gh a series of actions. On August 3, 2015, our Board of Directors authorized an additional increase of $ 5.0 billion to its previous share repurchase authorization. As of September 30, 2015 , approximately $ 3.5 billion remained und er our share repurchase authorization. Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise. Certain of our share repurchases have been and may from time to time be effected through Exchange Act Rul e 10b5-1 repurchase plans. We repurchased approximately 129 million shares of AIG Common Stock during the nine -month period ended September 30, 2015 , for an aggregate purchase price of approximately $ 7.5 billion. The total number of shares of AIG Common Stock repurchased in the nine -month period ended September 30, 2015 includes (but the aggregate purchase price does not include) approximately 3.5 million shares of AIG Common Stock received in January 2015 upon the settlement of an accelerated share repurchase agreement executed in the fourth quarter of 2014. The timing of any future repurchases will depend on market conditions, our fin ancial condition, results of operations, liquidity and other factors. Accumulated Other Comprehensive Income The following table presents a roll forward of Accumulated other comprehensive income : Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than- Temporary Credit Impairments Were Taken Unrealized Appreciation (Depreciation) of All Other Investments Foreign Currency Translation Adjustments Retirement Plan Liabilities Adjustment (in millions) Total Balance, December 31, 2014, net of tax $ 1,043 $ 12,327 $ (1,784) $ (969) $ 10,617 Change in unrealized depreciation of investments (315) (6,372) - - (6,687) Change in deferred acquisition costs adjustment and other - 763 - - 763 Change in future policy benefits 92 807 - - 899 Change in foreign currency translation adjustments - - (901) - (901) Net actuarial gain - - - 417 417 Prior service cost - - - (210) (210) Change in deferred tax asset (liability) 54 1,493 167 (59) 1,655 Total other comprehensive income (loss) (169) (3,309) (734) 148 (4,064) Noncontrolling interests - - (4) - (4) Balance, September 30, 2015, net of tax $ 874 $ 9,018 $ (2,514) $ (821) $ 6,557 Balance, December 31, 2013, net of tax $ 936 $ 6,789 $ (952) $ (413) $ 6,360 Change in unrealized appreciation of investments 268 6,330 - - 6,598 Change in deferred acquisition costs adjustment and other 61 (433) - - (372) Change in future policy benefits (114) (781) - - (895) Change in foreign currency translation adjustments - - (149) - (149) Net actuarial gain - - - 40 40 Prior service cost - - - (36) (36) Change in deferred tax asset (liability) (41) (144) (40) 9 (216) Total other comprehensive income (loss) 174 4,972 (189) 13 4,970 Noncontrolling interests - (1) - - (1) Balance, September 30, 2014, net of tax $ 1,110 $ 11,762 $ (1,141) $ (400) $ 11,331 The following table presents the other comprehensive income reclassification adjustments for the three - and nine -month periods ended September 30, 2015 and 2014 , respectively : Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than- Temporary Credit Impairments Were Taken Unrealized Appreciation (Depreciation) of All Other Investments Foreign Currency Translation Adjustments Retirement Plan Liabilities Adjustment (in millions) Total Three Months Ended September 30, 2015 Unrealized change arising during period $ (98) $ (1,275) $ (217) $ 303 $ (1,287) Less: Reclassification adjustments included in net income 13 (17) - 164 160 Total other comprehensive income (loss), before income tax expense (benefit) (111) (1,258) (217) 139 (1,447) Less: Income tax expense (benefit) (50) (401) 21 47 (383) Total other comprehensive income (loss), net of income tax expense (benefit) $ (61) $ (857) $ (238) $ 92 $ (1,064) Three Months Ended September 30, 2014 Unrealized change arising during period $ 132 $ (575) $ (120) $ (8) $ (571) Less: Reclassification adjustments included in net income 9 12 - 1 22 Total other comprehensive income (loss), before income tax expense (benefit) 123 (587) (120) (9) (593) Less: Income tax expense (benefit) 64 (419) (42) (15) (412) Total other comprehensive income (loss), net of income tax expense (benefit) $ 59 $ (168) $ (78) $ 6 $ (181) Nine Months Ended September 30, 2015 Unrealized change arising during period $ (155) $ (4,243) $ (901) $ 324 $ (4,975) Less: Reclassification adjustments included in net income 68 559 - 117 744 Total other comprehensive income (loss), before income tax expense (benefit) (223) (4,802) (901) 207 (5,719) Less: Income tax expense (benefit) (54) (1,493) (167) 59 (1,655) Total other comprehensive income (loss), net of income tax expense (benefit) $ (169) $ (3,309) $ (734) $ 148 $ (4,064) Nine Months Ended September 30, 2014 Unrealized change arising during period $ 242 $ 5,522 $ (149) $ 3 $ 5,618 Less: Reclassification adjustments included in net income 27 406 - (1) 432 Total other comprehensive income (loss), before income tax expense (benefit) 215 5,116 (149) 4 5,186 Less: Income tax expense (benefit) 41 144 40 (9) 216 Total other comprehensive income (loss), net of income tax expense (benefit) $ 174 $ 4,972 $ (189) $ 13 $ 4,970 The following table presents the effect of the reclassification of significant items out of Accumulated other comprehensive income on the respective line items in the Condensed Consolidated Statement s of Income (Loss) : Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income (Loss) Three Months Ended September 30, (in millions) 2015 2014 Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were taken Investments $ 13 $ 9 Other realized capital gains Total 13 9 Unrealized appreciation (depreciation) of all other investments Investments (15) 117 Other realized capital gains Deferred acquisition costs adjustment (2) (40) Amortization of deferred policy acquisition costs Future policy benefits - (65) Policyholder benefits and losses incurred Total (17) 12 Change in retirement plan liabilities adjustment Prior - service cost 187 11 * Actuarial losses (23) (10) * Total 164 1 Total reclassifications for the period $ 160 $ 22 Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income (Loss) Nine Months Ended September 30, (in millions) 2015 2014 Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were taken Investments $ 68 $ 27 Other realized capital gains Total 68 27 Unrealized appreciation (depreciation) of all other investments Investments 609 528 Other realized capital gains Deferred acquisition costs adjustment (67) (35) Amortization of deferred policy acquisition costs Future policy benefits 17 (87) Policyholder benefits and losses incurred Total 559 406 Change in retirement plan liabilities adjustment Prior - service cost 210 35 * Actuarial losses (93) (36) * Total 117 (1) - Total reclassifications for the period $ 744 $ 432 - * These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 12 to the Condensed Consolidated Financial Statements.

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)	9 Months Ended
	Sep. 30, 2015
EARNINGS PER SHARE (EPS)
EARNINGS PER SHARE (EPS)	11 . EARNINGS PER SHARE (EPS) The basic EPS computation is based on the weighted average number of common shares outstanding, adjusted to reflect all stock dividends and stock splits. The diluted EPS computation is based on those shares used in the basic EPS computation plus shares that would have been outstanding assuming issuance of common shares for all dilutive potential common shares outstanding, and adjusted to reflect all stock dividends and stock splits . The following table presents the computation of basic and diluted EPS: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions, except per share data) 2015 2014 2015 2014 Numerator for EPS: Income (loss) from continuing operations $ (180) $ 2,199 $ 4,071 $ 6,864 Less: Net income (loss) from continuing operations attributable to noncontrolling interests 34 9 34 (25) Income (loss) attributable to AIG common shareholders from continuing operations (214) 2,190 4,037 6,889 Income (loss) from discontinued operations, net of income tax expense (17) 2 - (15) Net income (loss) attributable to AIG common shareholders (231) 2,192 4,037 6,874 Denominator for EPS: Weighted average shares outstanding - basic 1,279,072,748 1,419,239,774 1,324,407,969 1,440,148,774 Dilutive shares (a) - 22,828,068 32,700,815 19,334,459 Weighted average shares outstanding - diluted (b) 1,279,072,748 1,442,067,842 1,357,108,784 1,459,483,233 Income per common share attributable to AIG: Basic: Income (loss) from continuing operations $ (0.17) $ 1.54 $ 3.05 $ 4.78 Income (loss) from discontinued operations $ (0.01) $ - $ - $ (0.01) Income (loss) attributable to AIG $ (0.18) $ 1.54 $ 3.05 $ 4.77 Diluted: Income (loss) from continuing operations $ (0.17) $ 1.52 $ 2.97 $ 4.72 Income (loss) from discontinued operations $ (0.01) $ - $ - $ (0.01) Income (loss) attributable to AIG $ (0.18) $ 1.52 $ 2.97 $ 4.71 (a) Shares in the diluted EPS calculation represent basic shares for the three -month period ended September 30, 2015 due to the net loss in that period. (b) Dilutive shares include our share-based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011. The number of shares excluded from diluted shares outstanding was 0.1 million and 0.2 million for the three - and nine -month periods ended September 30, 2015 , respectively, and 0.3 million for both the three - and nine -month periods ended September 30, 2014 , because the effect of including those shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	9 Months Ended
	Sep. 30, 2015
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS	12. EMPLOYEE BENEFITS We sponsor various defined benefit pension plans, post-retirement medical and life insurance plans for eligible employees and retirees in the US and certain non-US countries. For the nine -month period ended September 30, 2015 , we contributed $ 600 million to our U.S. and non-U.S. pension plans ($ 541 million was contributed to the U.S. AIG Retirement Plan), and we estimate that we will contri bute an additional $ 14 million for the remainder of 2015 . These estimates are subject to change because contribution decisions are affected by various factors including our liquidity, market performance and management discreti on. On August 27, 2015, we amended the AIG Retirement Plan, the Non-Qualified Retirement Income Plan and the Supplemental Executive Retirement Plan (the Plans), to freeze benefit accruals effective January 1, 2016. Consequently, the Plans will be closed to new participants and current participants will no longer earn additional benefits after December 31, 2015. However, interest credits will continue to accrue on the existing cash balance accounts and participants will also continue to earn service credits for purposes of vesting and early retirement eligibility and subsidies as they continue to work for AIG. As a result of this decision to freeze the Plans, AIG re-measured the plan assets and obligations as of September 1, 2015 and recognized a pre-tax curt ailment gain of $ 179 million and a net increase of $ 324 million in accumulated other comprehensive income in the third quarter of 2015. The following table presents the components of net periodic benefit cost with respect to pensions and other postretirement benefits: Pension Postretirement U.S. Non-U.S. U.S. Non-U.S. (in millions) Plans Plans Total Plans Plans Total Three Months Ended September 30, 2015 Components of net periodic benefit cost: Service cost $ 41 $ 10 $ 51 $ 1 $ - $ 1 Interest cost 54 6 60 2 1 3 Expected return on assets (74) (5) (79) - - - Amortization of prior service credit (6) (1) (7) (3) - (3) Amortization of net loss 21 2 23 - - - Curtailment gain (179) - (179) - - - Net periodic benefit (income) cost $ (143) $ 12 $ (131) $ - $ 1 $ 1 Three Months Ended September 30, 2014 Components of net periodic benefit cost: Service cost $ 42 $ 11 $ 53 $ 1 $ - $ 1 Interest cost 57 7 64 2 1 3 Expected return on assets (73) (6) (79) - - - Amortization of prior service credit (8) (1) (9) (3) - (3) Amortization of net loss 9 2 11 - - - Net periodic benefit cost $ 27 $ 13 $ 40 $ - $ 1 $ 1 Nine Months Ended September 30, 2015 Components of net periodic benefit cost: Service cost $ 144 $ 31 $ 175 $ 4 $ 2 $ 6 Interest cost 164 18 182 6 2 8 Expected return on assets (218) (17) (235) - - - Amortization of prior service credit (22) (2) (24) (8) - (8) Amortization of net loss 86 7 93 - - - Curtailment gain (179) (1) (180) - - - Net periodic benefit (income) cost $ (25) $ 36 $ 11 $ 2 $ 4 $ 6 Nine Months Ended September 30, 2014 Components of net periodic benefit cost: Service cost $ 130 $ 32 $ 162 $ 3 $ 1 $ 4 Interest cost 171 22 193 7 2 9 Expected return on assets (215) (17) (232) - - - Amortization of prior service credit (25) (2) (27) (8) - (8) Amortization of net loss 31 6 37 - - - Net periodic benefit cost $ 92 $ 41 $ 133 $ 2 $ 3 $ 5

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
INCOME TAXES
INCOME TAXES	13. INCOME TAXES Interim Tax Calculation Method We use the estimated annual effective tax rate method in computing our interim tax provision. Certain items, including those deemed to be unusual, infrequent or that cannot be reliably estimated, are excluded from the estimated annual effective tax rate. In these cases, the actual tax expense or benefit is reported in the same period as the related item. Certain tax effects are also not reflected in the estimated annual effective tax ra te, primarily certain changes in the realizability of deferred tax assets and uncertain tax positions. Interim Tax Expense (Benefit) For the three -month period ended September 30, 2015 , the effective tax rate on loss from conti nuing operations was not meaningful, due to a tax charge on a pre-tax loss. The tax charge was primarily due to increases in uncertain tax positions related to cross-border financing transactions, partially offset by tax benefits associated with tax-exempt interest income and the partial completion of the Internal Revenue Service examination covering tax year 2006. For the nine -month period ended September 30, 2015 , the effective tax rate on income from continuing operations was 34.5 percent. The effective tax rate on income from continuing operations for the nine -month period ended September 30, 2015 differs from the statutory tax rate of 35 percent primarily due to t ax benefits associated with tax- exempt interest income, reclassifications from accumulated other comprehensive income to income from continuing operations related to the deferred tax asset valuation allowance previously release d to accumulated other comprehensive income, and the partial completion of the Internal Revenue Service examination covering tax year 2006, partially offset by tax charges associated with increases in uncertain tax positions related to cross- border financi ng transactions and increases in the deferred tax asset valuation allowances associated with certain foreign jurisdictions. The nine -month period ended September 30, 2015 includes an increase in the deferred tax asset valuation al lowance primarily attributable to the effects of changes in the Japanese tax law enacted on March 31, 2015, partially offset by changes in projec tions of future taxable income. For the three - and nine -month periods ended September 30, 2014 , the effective tax rate on income from continuing operations was 27.2 percent and 29.8 percent, respectively. The effective tax rate on income from continuing operations in both periods differs from the statutory tax rate of 35 percent primarily due to t ax benefits associated with tax- exempt interest income and a decrease in the U.S. Life Insurance Companies’ capital loss carry forward deferred tax asset valuation allowance . Assessment of Deferred Tax Asset Valuation Allowance The evaluation of the recoverability of our deferred tax asset and the need for a valuation allowance requires us to weigh all positive and negative evid ence to reach a conclusion that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The weight given to the evidence is commensurate with the extent to which it can be objectively verified. The more negative evidence that exists, the more positive evidence is necessary and the more difficult it is to support a conclusion that a valuation allowance is not needed. Our framework for assessing the recoverability of the deferred tax asset requires us to consider al l available evidence, including: the nature, frequency, and amount of cumulative financial reporting income and losses in recent years; the sustainability of recent operating profitability of our subsidiaries; the predictability of future operating profitability of the character necessary to realize the net deferred tax asset; the carryforward period for the net operating loss, capital loss and foreign tax credit carryforwards , including the effect of reversing taxable temporary differences; and pru dent and feasible actions and tax planning strategies that would be implemented, if necessary, to protect against the loss of the deferred tax asset. In performing our assessment of the recoverability of the deferred tax asset under this framework, we cons ider tax laws governing the utilization of the net operating loss, capital loss and foreign tax credit carryforwards in each applicable jurisdiction. Under U.S. tax law, a company generally must use its net operating loss carryforwards before it can use i ts foreign tax credit carryforwards , even though the carryforward period for the foreign tax credit is shorter than for the net operating loss. Our U.S. federal consolidated income tax group includes both life companies and non-life companies. While the U.S. tax able income of our non-life companies can be offset by the net operating loss carryforwards , only a portion (no more than 35 percent ) of the U.S. tax able income of our life companies can be offset by th ose net operating loss carryforwards . The remaining tax liability of our life companies can be offset by the foreign tax credit carryforwards . Accordingly, we utilize both the net operating loss and foreign tax credit carryforwards concurrently which enables us to realize our tax attributes prior to expir ation . As of September 30, 2015 , based on all available evidence, it is more likely than not that the U.S. net operating loss and foreign tax credit carryforwards will be utilized prior to expiration and, thus, no valuation allowance has bee n established. Estimates of future taxable income, including income generated from prudent and feasible actions and tax planning strategies could change in the near term, perhaps materially, which may require us to consider any potential impact to our assessment of the recoverability of the deferred tax asset. Such potential impact could be material to our consolidated financial condition or results of operations for an individual reporting period. Changes in market conditions, including rising interest rates, may impact unrealized tax losses in the U.S. Life Insurance Companies’ available for sale portfolio and could affect our assessment of the recoverability of the related deferred tax assets. The deferred tax asset relates to the unrealized losses f or which the carryforward period has not yet begun, as such when assessing its recoverability we consider our ability and intent to hold the und erlying securities to recovery. During the three -month period ended September 30, 2015 , we recognized an increase of $ 8 million in our deferred tax asset valuation allowance associated with certain foreign jurisdictions. During the nine -month period ended September 30, 2015 , we recogni zed an increase of $ 61 million in our deferred tax asset valuation allowance associated with certain foreign jurisdictions, primarily attributable to changes in the Japanese tax law enacted on March 31, 2015 partially offset by ch anges in projections of future taxable income. Tax Examinations and Litigation On March 29, 2013, the U.S District Court for the Southern District of New York denied our motion for partial summary judgment related to the disallowance of foreign tax credits associated with cross border financing transactions. On March 17, 2014, the U.S. Court of Appeals for the Second Circuit (the Second Circuit) granted our petition for an immediate appeal of the partial summary judgment decision. On September 9, 2015, the Second Circuit affirmed the decision of the U.S. District Court for the Southern Distric t of New York. On October 13, 2015, we filed a petition for a writ of certiorari to the U.S Supreme Court. We will vigorously defend our position and believe we maintain adequate reserves for liabilities that could result upon the conclusion of the litig ation and from Internal Revenue Service actions. We continue to monitor legal and other developments in this area, including recent decisions affecting other taxpayers, and evaluate the effect, if any, on our position. Accounting for Uncertainty in Income Taxes At both September 30, 2015 and December 31, 2014 , our unrecognized tax benefits, excluding interest and penalties, were $ 4.4 billion. The nine -month a ctivity includ es increases for amounts associated with cross border financing transactions partially offset by certain benefits realized due to the partial completion of the Internal Revenue Service exam ination covering tax year 2006. At September 30, 2015 and December 31, 2014 , our unrecognized tax benefits related to tax positions that, if recognized, would not affect the effective tax rate because they relate to such factors as the timing, rather the permissibility, of the deduction were $ 0.2 billion and $ 0.3 billion , respectively. Accordingly, at September 30, 2015 and December 31, 2014 , the amounts of unrecognized t ax benefits that, if recognized, would favorably affect the effective tax rate were $ 4.2 billion and $ 4.1 billion , respectively. Interest and penalties relate d to unrecognized tax benefits are recognized in income tax expense. At September 30, 2015 and December 31, 2014 , we had accrued liabilities of $ 1.2 billion and $ 1.1 billion, respectively, for the payment of interest (net of the federal benefit) and penalties. For the nine -month periods ended September 30, 2015 and 2014 , we accrued expense (bene fit) of $ 133 million and $ (64) million, respectively, for the payment of interest and penalties. The interest increase from December 31, 201 4 was primarily due to increases in amounts associated with cross border financing transactions . We regularly evaluate adjustments proposed by taxing authorities. At September 30, 2015 , such proposed adjustments would not have resulted in a material change to o ur consolidated financial condition, although it is possible that the effect could be material to our consolidated results of operations for an individual reporting period. Although it is reasonably possible that a change in the balance of unrecognized ta x benefits may occur within the next 12 months, based on the information currently available, we do not expect any change to be material to our consolidated financial condition.

INFORMATION PROVIDED IN CONNECT

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT	9 Months Ended
	Sep. 30, 2015
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT	14. INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT The following C ondensed C onsolidating F inancial S tatements reflect the results of AIGLH , a holding company and a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of all outstanding debt of AIGLH . Condensed Consolidating Balance Sheets American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG September 30, 2015 Assets: Short-term investments $ 5,531 $ - $ 7,234 $ (357) $ 12,408 Other investments (a) 9,028 - 324,965 - 333,993 Total investments 14,559 - 332,199 (357) 346,401 Cash 20 3 1,546 - 1,569 Loans to subsidiaries (b) 31,354 - 543 (31,897) - Investment in consolidated subsidiaries (b) 59,411 32,486 - (91,897) - Other assets, including deferred income taxes 25,428 260 130,952 (2,625) 154,015 Total assets $ 130,772 $ 32,749 $ 465,240 $ (126,776) $ 501,985 Liabilities: Insurance liabilities $ - $ - $ 267,946 $ - $ 267,946 Long-term debt 20,794 707 9,218 - 30,719 Other liabilities, including intercompany balances (a) 10,439 185 96,104 (3,027) 103,701 Loans from subsidiaries (b) 540 - 31,357 (31,897) - Total liabilities 31,773 892 404,625 (34,924) 402,366 Total AIG shareholders’ equity 98,999 31,857 59,995 (91,852) 98,999 Non-redeemable noncontrolling interests - - 620 - 620 Total equity 98,999 31,857 60,615 (91,852) 99,619 Total liabilities and equity $ 130,772 $ 32,749 $ 465,240 $ (126,776) $ 501,985 December 31, 2014 Assets: Short-term investments $ 6,078 $ - $ 6,231 $ (1,066) $ 11,243 Other investments (a) 11,415 - 333,108 - 344,523 Total investments 17,493 - 339,339 (1,066) 355,766 Cash 26 91 1,641 - 1,758 Loans to subsidiaries (b) 31,070 - 779 (31,849) - Investment in consolidated subsidiaries (b) 62,811 35,850 - (98,661) - Other assets, including deferred income taxes 23,835 2,305 141,826 (9,909) 158,057 Total assets $ 135,235 $ 38,246 $ 483,585 $ (141,485) $ 515,581 Liabilities: Insurance liabilities $ - $ - $ 270,615 $ - $ 270,615 Long-term debt 21,190 820 9,207 - 31,217 Other liabilities, including intercompany balances (a) 6,196 2,314 108,189 (10,222) 106,477 Loans from subsidiaries (b) 951 - 30,898 (31,849) - Total liabilities 28,337 3,134 418,909 (42,071) 408,309 Total AIG shareholders’ equity 106,898 35,112 64,302 (99,414) 106,898 Non-redeemable noncontrolling interests - - 374 - 374 Total equity 106,898 35,112 64,676 (99,414) 107,272 Total liabilities and equity $ 135,235 $ 38,246 $ 483,585 $ (141,485) $ 515,581 (a) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment . (b) Eliminated in consolidation. Condensed Consolidating Statements of Income American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Three Months Ended September 30, 2015 Revenues: Equity in earnings of consolidated subsidiaries * $ 717 $ 222 $ - $ (939) $ - Other income (221) - 13,220 (177) 12,822 Total revenues 496 222 13,220 (1,116) 12,822 Expenses: Interest expense 254 14 83 (30) 321 Loss on extinguishment of debt 345 - 1 - 346 Other expenses 352 - 12,064 (146) 12,270 Total expenses 951 14 12,148 (176) 12,937 Income (loss) from continuing operations before income tax expense (benefit) (455) 208 1,072 (940) (115) Income tax expense (benefit) (224) (6) 295 - 65 Income (loss) from continuing operations (231) 214 777 (940) (180) Loss from discontinued operations, net of income taxes - - (17) - (17) Net income (loss) (231) 214 760 (940) (197) Less: Net income from continuing operations attributable to noncontrolling interests - - 34 - 34 Net income (loss) attributable to AIG $ (231) $ 214 $ 726 $ (940) $ (231) Three Months Ended September 30, 2014 Revenues: Equity in earnings of consolidated subsidiaries * $ 2,661 $ 1,315 $ - $ (3,976) $ - Other income 615 - 16,161 (79) 16,697 Total revenues 3,276 1,315 16,161 (4,055) 16,697 Expenses: Interest expense 378 22 62 (32) 430 Loss on extinguishment of debt 682 - 60 - 742 Other expenses 284 61 12,196 (35) 12,506 Total expenses 1,344 83 12,318 (67) 13,678 Income (loss) from continuing operations before income tax expense (benefit) 1,932 1,232 3,843 (3,988) 3,019 Income tax expense (benefit) (261) (33) 1,117 (3) 820 Income (loss) from continuing operations 2,193 1,265 2,726 (3,985) 2,199 Income (loss) from discontinued operations, net of income taxes (1) - 3 - 2 Net income (loss) 2,192 1,265 2,729 (3,985) 2,201 Less: Net income from continuing operations attributable to noncontrolling interests - - 9 - 9 Net income (loss) attributable to AIG $ 2,192 $ 1,265 $ 2,720 $ (3,985) $ 2,192 American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Nine Months Ended September 30, 2015 Revenues: Equity in earnings of consolidated subsidiaries * $ 5,793 $ 1,744 $ - $ (7,537) $ - Other income (57) - 45,050 (497) 44,496 Total revenues 5,736 1,744 45,050 (8,034) 44,496 Expenses: Interest expense 810 44 213 (90) 977 Loss on extinguishment of debt 703 - 46 7 756 Other expenses 899 42 36,016 (407) 36,550 Total expenses 2,412 86 36,275 (490) 38,283 Income (loss) from continuing operations before income tax expense (benefit) 3,324 1,658 8,775 (7,544) 6,213 Income tax expense (benefit) (714) (69) 2,925 - 2,142 Income (loss) from continuing operations 4,038 1,727 5,850 (7,544) 4,071 Income (loss) from discontinued operations, net of income taxes (1) - 1 - - Net income (loss) 4,037 1,727 5,851 (7,544) 4,071 Less: Net income from continuing operations attributable to noncontrolling interests - - 34 - 34 Net income (loss) attributable to AIG $ 4,037 $ 1,727 $ 5,817 $ (7,544) $ 4,037 Nine Months Ended September 30, 2014 Revenues: Equity in earnings of consolidated subsidiaries * $ 8,149 $ 2,789 $ - $ (10,938) $ - Other income 1,094 - 48,165 (263) 48,996 Total revenues 9,243 2,789 48,165 (11,201) 48,996 Expenses: Interest expense 1,210 80 180 (98) 1,372 Loss on extinguishment of debt 987 - 77 (50) 1,014 Other expenses 1,310 79 35,564 (115) 36,838 Total expenses 3,507 159 35,821 (263) 39,224 Income (loss) from continuing operations before income tax expense (benefit) 5,736 2,630 12,344 (10,938) 9,772 Income tax expense (benefit) (1,137) (54) 4,121 (22) 2,908 Income (loss) from continuing operations 6,873 2,684 8,223 (10,916) 6,864 Income (loss) from discontinued operations, net of income taxes 1 - (16) - (15) Net income (loss) 6,874 2,684 8,207 (10,916) 6,849 Less: Net loss from continuing operations attributable to noncontrolling interests - - (25) - (25) Net income (loss) attributable to AIG $ 6,874 $ 2,684 $ 8,232 $ (10,916) $ 6,874 * Eliminated in consolidation. Condensed Consolidating Statements of Comprehensive Income American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Three Months Ended September 30, 2015 Net income (loss) $ (231) $ 214 $ 760 $ (940) $ (197) Other comprehensive income (loss) (1,063) (548) 187 360 (1,064) Comprehensive income (loss) (1,294) (334) 947 (580) (1,261) Total comprehensive income attributable to noncontrolling interests - - 33 - 33 Comprehensive income (loss) attributable to AIG $ (1,294) $ (334) $ 914 $ (580) $ (1,294) Three Months Ended September 30, 2014 Net income (loss) $ 2,192 $ 1,265 $ 2,729 $ (3,985) $ 2,201 Other comprehensive income (loss) (180) (259) (1,885) 2,143 (181) Comprehensive income (loss) 2,012 1,006 844 (1,842) 2,020 Total comprehensive income attributable to noncontrolling interests - - 8 - 8 Comprehensive income (loss) attributable to AIG $ 2,012 $ 1,006 $ 836 $ (1,842) $ 2,012 Nine Months Ended September 30, 2015 Net income (loss) $ 4,037 $ 1,727 $ 5,851 $ (7,544) $ 4,071 Other comprehensive income (loss) (4,060) 3,942 52,820 (56,766) (4,064) Comprehensive income (loss) (23) 5,669 58,671 (64,310) 7 Total comprehensive income attributable to noncontrolling interests - - 30 - 30 Comprehensive income (loss) attributable to AIG $ (23) $ 5,669 $ 58,641 $ (64,310) $ (23) Nine Months Ended September 30, 2014 Net income (loss) $ 6,874 $ 2,684 $ 8,207 $ (10,916) $ 6,849 Other comprehensive income (loss) 4,971 2,522 1,848 (4,371) 4,970 Comprehensive income (loss) 11,845 5,206 10,055 (15,287) 11,819 Total comprehensive loss attributable to noncontrolling interests - - (26) - (26) Comprehensive income (loss) attributable to AIG $ 11,845 $ 5,206 $ 10,081 $ (15,287) $ 11,845 C ondensed Consolidating Statements of Cash Flows American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries * Eliminations * AIG Nine Months Ended September 30, 2015 Net cash provided by operating activities 3,675 1,386 508 (3,335) 2,234 Cash flows from investing activities: Sales of investments 5,610 - 52,234 (3,363) 54,481 Purchase of investments (1,373) - (49,465) 3,363 (47,475) Loans to subsidiaries - net (1,227) - 2,690 (1,463) - Contributions to subsidiaries - net - - - - - Net change in restricted cash - - 1,476 - 1,476 Net change in short-term investments 1,940 - (2,968) - (1,028) Other, net (4) - (770) - (774) Net cash provided by investing activities 4,946 - 3,197 (1,463) 6,680 Cash flows from financing activities: Issuance of long-term debt 5,540 - 909 - 6,449 Repayments of long-term debt (5,728) (115) (2,500) - (8,343) Purchase of Common Stock (7,473) - - - (7,473) Intercompany loans - net (236) - (1,227) 1,463 - Cash dividends paid (687) (1,359) (1,976) 3,335 (687) Other, net (43) - 1,033 - 990 Net cash (used in) financing activities (8,627) (1,474) (3,761) 4,798 (9,064) Effect of exchange rate changes on cash - - (39) - (39) Change in cash (6) (88) (95) - (189) Cash at beginning of year 26 91 1,641 - 1,758 Reclassification to assets held for sale - - - - - Cash at end of period $ 20 $ 3 $ 1,546 $ - $ 1,569 Nine Months Ended September 30, 2014 Net cash provided by operating activities 7,228 4,333 3,979 (11,183) 4,357 Cash flows from investing activities: Sales of investments 2,032 - 45,254 (725) 46,561 Purchase of investments (1,257) - (42,549) 725 (43,081) Loans to subsidiaries - net (1,687) - 327 1,360 - Contributions from (to) subsidiaries - net 77 - - (77) - Net change in restricted cash (5) - (655) - (660) Net change in short-term investments 2,947 - (605) - 2,342 Other, net (61) - (234) - (295) Net cash provided by investing activities 2,046 - 1,538 1,283 4,867 Cash flows from financing activities: Issuance of long-term debt 2,489 - 3,338 - 5,827 Repayments of long-term debt (7,368) (165) (4,028) - (11,561) Intercompany loans - net (47) (279) 1,686 (1,360) - Purchase of common stock (3,403) - - - (3,403) Cash dividends paid to shareholders (539) (3,931) (7,252) 11,183 (539) Other, net (324) - 322 77 75 Net cash (used in) financing activities (9,192) (4,375) (5,934) 9,900 (9,601) Effect of exchange rate changes on cash - - (19) - (19) Change in cash 82 (42) (436) - (396) Cash at beginning of year 30 51 2,160 - 2,241 Change in cash of businesses held for sale - - 88 - 88 Cash at end of period $ 112 $ 9 $ 1,812 $ - $ 1,933 Supplementary Disclosure of Condensed Consolidating Cash Flow Information American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries * Eliminations * AIG Cash (paid) received during the 2015 period for: Interest: Third party $ (846) $ (57) $ (209) $ - $ (1,112) Intercompany - - - - - Taxes: Income tax authorities $ (17) $ - $ (389) $ - $ (406) Intercompany 1,769 - (1,769) - - Cash (paid) received during the 2014 period for: Interest: Third party $ (1,238) $ (87) $ (1,171) $ - $ (2,496) Intercompany (1) (7) 8 - - Taxes: Income tax authorities $ (18) $ - $ (596) $ - $ (614) Intercompany 1,348 - (1,348) - - American International Group, Inc. (As Guarantor) supplementary disclosure of non-cash activities: Nine Months Ended September 30, (in millions) 2015 2014 Intercompany non-cash financing and investing activities: Capital contributions $ 111 $ 993 Dividends received in the form of securities 1,997 1,538 Return of capital * - 4,836 Consideration received from sale of shares of AerCap 500 - * Includes $ 4.8 billion return of capital from AIG Capital Corporation related to the sale of ILFC .

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2015
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS Dividends Declared On November 2, 2015, our Board of Directors declared a cash dividend on AIG Common Stock of $ 0.28 per share, payable on December 21, 2015 to shareholders of record on December 7, 2015. This dividend will result in an adjustment to the exercise price of the outstanding warrants (the Warrants) to purchase shares of AIG Common St ock and an adjustment to the number of shares of AIG Common Stock receivable upon Warrant exercise. The exact adjustments, determined by a formula set forth in the Warrant Agreement, will become calculable on December 2, 2015, the day prior to the ex-divid end date. The payment of any future dividends will be at the discretion of our Board of Directors and will depend on various factors, including the regulatory framework applicable to us. See Note 10 to the Condensed Consolidated Financial State ments.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2015
BASIS OF PRESENTATION
Sale of ILFC	Sale of ILFC and sha res of AerCap On May 14, 2014, we completed the sale of 100 percent of the common stock of International Lease Finance Corporation (ILFC) to AerCap Ireland Limited, a wholly owned subsidiary of AerCap Holdings N.V. ( AerCap ), in exchange for total consideration of approximately $ 7.6 billion, including cash and 97.6 million newly-issued AerCap common shares (the AerCap Transaction). The total value of the consideration was based in part on AerCap’ s closing price per share of $ 47.01 on May 13, 2014. ILFC’s results of operations are reflected in Aircraft leasing revenue and Aircraft leasing expenses in the Condensed Consolidated Statements of Income (Loss) through the date of the completion of the sale. In June 2015, we sold 86.9 million ordinary shares of AerCap by means of an underwritten public offering of 71.2 million ordinary shares and a private sale of 15.7 million ordinary shares to AerCap . We received cash proceeds of approximately $ 3.7 billion, reflecting proceeds of approximately $ 3.4 billion from the underwritten offering and cash proceeds of $ 250 million from the private sale of shares to AerCap . In connection with the closing of the private sale of shares to AerCap , we also received $ 500 million of 6.50 % fixed-to-floating rate jun ior subordinated notes issued by AerCap Global Aviation Trust and guaranteed by AerCap and certain of its subsidiaries. These notes, included in Bonds available for sale, mature in 2045 and are callable beginning in 2025. We accounted for our interest in AerCap using the e quity method of accounting through the date of the June 2015 sale, and as a vailable for s ale thereafter. In August 2015, we sold our remaining 10.7 million ordinary shares of AerCap by means of an underwritten public offering and received proceeds of approximately $ 500 million.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involve a sign ificant degree of judgment. Accounting policies that we believe are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of: income tax assets and liabilities, including recoverability of our net deferred tax asset and the predictability of future tax operating profitability of the character necessary to realize the net deferred tax asset; liability for unpaid losses and loss adjustment expenses; reinsurance assets; valuation of future policy benefit liabilities and timing and extent of loss recognition; valuation of liabilities for guaranteed benefit features of variable annuity products; estimated gross profits to value deferred acquisition costs for investm ent -oriented products; impairment charges, including other -than -temporary impairments on available for sale securities, impairments on investments in life settlements and goodwill impairment; liability for legal contingencies; and fair value measurements o f certain financial assets and liabilities. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consol idated financial condition, results of operations and cash flows could be materially affected .

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Standards Adopted During 2015	Accounting Standards Adopted During 2015 Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure In January 2014, the Financial Accounting Standards Board (FASB) issued an accounting standard that clarifies that a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, so that the loan is derecognized and the real estate proper ty is recognized, when either ( i ) the creditor obtains legal title to the residential real estate property upon completion of a foreclosure or (ii) the borrower conveys all interest in the residential real estate property to the creditor to satisfy the loa n through completion of a deed in lieu of foreclosure or through a similar legal agreement. We adopted the standard on its required effective date of January 1, 2015 . The adoption of this standard had no material effect on our consolidated fina ncial condition, results of operations or cash flows. Reporting Discontinued Operations In April 2014, the FASB issued an accounting standard that changes the requirements for presenting a component or group of components of an entity as a discontinued operation and requires new disclosures. Under the standard, the disposal of a component or group of components of an entity should be reported as a discontinued operation if the disposal represents a s trategic shift that has (or will have) a major effect o n an entity’s operations and financial results. Disposals of equity method investments, or those reported as held-for-sale, must be presented as a discontinued operation if they meet the new definition. The standard also requires entities to provide disclo sures about the disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation . We adopted the standard on its required effective date of January 1, 2015 on a prospective basis. Th e adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In June 2014, the FASB issued an accounting stan dard that changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires additional disclosures about repurchase agreements and other similar transactions. The standard aligns the accounting for repur chase-to-maturity transactions and repurchase agreements executed as repurchase financings with the accounting for other typical repurchase agreements such that they all will be accounted for as secured borrowings. The standard eliminates sale accounting f or repurchase-to-maturity transactions and supersedes the standard under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement. We adopted the standard on its requ ired effective date of January 1, 2015 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows.
Future Application of Accounting Standards	Future Application of Accounting Standards R evenue Recognition In May 2014, the FASB issued an accounting standard that supersedes most existing revenue recognition guidance. The standard excludes from its scope the accounting for insurance contracts, leases, financial instruments, and certain oth er agreements that are governed under other GAAP guidance, but could affect the revenue recognition for certain of our other activities. The standard is effective for interim and annual reporting periods beginning after December 15, 2017 and may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim periods within that reporting peri od. We plan to adopt the standard on its required effective date of January 1, 2018 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows . Accounting for Share-Based Payments with Performance Targets In June 2014, the FASB issued an accounting standard that clarifies the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The standard requires that a performance target that affects vesting and that could be achieved after the requisite service period be treate d as a performance condition. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. We plan to adopt the standard on its required effective date of January 1, 2016 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows . Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity In August 2014, the FASB issued an accounting standard that allows a reporting entity to measure the financial assets and financial liabilities of a qualifying consolidated collateralized financing entity using the fair value of either its financial assets or financial liabilities, whichever is more observable. The standard is effective for interim a nd annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Consolidation: Amendments to the Consolidation Analysis In February 2015, the FAS B issued an accounting standard that affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments modify the evaluation of whether limited partnerships and similar legal entit ies are variable interest entities (VIEs) or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs, particula r l y t h o s e t h a t h a v e f e e a r r a n g e m e n t s a n d r e l a t e d p a r t y r e l a t i o n s h i p s ; a n d p r o v i d e a s c o p e e x c e p t i o n f r o m c o n s o l i d a t i o n g u i d a n c e f o r r e p o r t i n g e n t i t i e s w i t h i n t e r e s t s i n l e g a l e n t i t i e s t h a t a r e r e q u i r e d t o c o m p l y w i t h o r o p e r a t e i n a c c o r d a n c e w i t h r e q u i r e m e nts that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the year of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015, the FASB issued an accounting standard that provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license the customer should account for the software license element of the arrangement consi stent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance does not change generally accepted accounting p rinciples applicable to a customer's accounting for service contracts. Consequently, all software licenses will be accounted for consistent with other licenses of intangible assets. The standard is effective for interim and annual periods beginning after December 15, 2015. Early adoption is permitted. The standard may be adopted prospectively to all arrangements entered into or materially modified after the effective date or retrospectively. We plan to adopt the standard on its required effective date of J anuary 1, 2016 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows . Short Duration Insurance Contracts In May 2015, the FASB issued an accounting standard that requires additional disclosures (including accident year information) for short-duration insurance contracts. New disclosures about the liability for unpaid losses and loss adjustmen t expenses will be required of public business entities for annual periods beginning after December 15, 2015. The annual disclosures by accident year include: disaggregated net incurred and paid claims development tables segregated by business type (not re quired to exceed 10 years), reconciliation of total net reserves included in development tables to the reported liability for unpaid losses and loss adjustment expenses, incurred but not reported (IBNR) information, quantitative information and a qualitati ve description about claim frequency, and the average annual percentage payout of incurred claims. Further, the new standard requires, when applicable, disclosures about discounting liabilities for unpaid losses and loss a djustment expenses and significant changes and reasons for changes in methodologies and assumptions used to determine unpaid losses and loss adjustment expenses. In addition, the roll forward of the liability for unpaid losses and loss adjustment expenses currently disclosed in annual fin ancial statements will be required for interim periods beginning in the first quarter of 2017 . Early adoption of the new annual and interim disclosures is permitted. We plan to adopt the standard on i ts required effective date. Because the new standard d oes not affect accounting recognition or measurement, the adoption of the standard will have no effect on our consolidated financial condi tion, results of operations, or cash flows.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2015
SEGMENT INFORMATION
Schedule of operations by reportable segment	2015 2014 Pre-Tax Pre-Tax Three Months Ended September 30, Total Operating Total Operating (in millions) Revenues Income (Loss) Revenues Income (Loss) Commercial Insurance Property Casualty $ 5,715 $ 569 $ 6,425 $ 952 Mortgage Guaranty 266 162 262 135 Institutional Markets 578 84 626 153 Total Commercial Insurance 6,559 815 7,313 1,240 Consumer Insurance Retirement 2,203 635 2,472 1,094 Life 1,578 (40) 1,575 50 Personal Insurance 2,871 62 3,163 120 Total Consumer Insurance 6,652 657 7,210 1,264 Corporate and Other * 109 (613) 1,121 149 AIG consolidation and elimination (141) (11) (168) (68) Total AIG consolidated revenues and pre-tax operating income 13,179 848 15,476 2,585 Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income (loss): Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense 4 4 32 32 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - (2) - (45) Loss on extinguishment of debt - (346) - (742) Net realized capital gains (loss) (342) (342) 536 536 Net gain (loss) on sale of divested businesses - (3) - 17 Non-operating litigation reserves and settlements - 30 653 636 Reserve development related to non-operating run-off insurance business - (30) - - Restructuring and other costs - (274) - - Other (19) - - - Revenues and pre-tax income (loss) $ 12,822 $ (115) $ 16,697 $ 3,019 2015 2014 Pre-Tax Pre-Tax Nine Months Ended September 30, Total Operating Total Operating (in millions) Revenues Income (Loss) Revenues Income (Loss) Commercial Insurance Property Casualty $ 17,904 $ 2,931 $ 18,868 $ 3,313 Mortgage Guaranty 791 464 769 421 Institutional Markets 2,374 382 2,028 552 Total Commercial Insurance 21,069 3,777 21,665 4,286 Consumer Insurance Retirement 7,056 2,239 7,367 2,773 Life 4,823 280 4,745 500 Personal Insurance 8,602 106 9,356 278 Total Consumer Insurance 20,481 2,625 21,468 3,551 Corporate and Other * 2,270 (79) 3,218 39 AIG consolidation and elimination (416) (80) (356) (42) Total AIG consolidated revenues and pre-tax operating income 43,404 6,243 45,995 7,834 Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income: Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense (39) (39) 162 162 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - (84) - (90) Loss on extinguishment of debt - (756) - (1,014) Net realized capital gains 1,125 1,125 546 546 Net gain (loss) on sale of divested businesses (48) (58) 1,602 2,189 Non-operating litigation reserves and settlements 91 86 691 145 Reserve development related to non-operating run-off insurance business - (30) - - Restructuring and other costs - (274) - - Other (37) - - - Revenues and pre-tax income $ 44,496 $ 6,213 $ 48,996 $ 9,772 * Corporate and Other includes income from assets held by AIG Parent and other corporate subsidiaries.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
FAIR VALUE MEASUREMENTS
Assets and liabilities measured at fair value on a recurring basis	September 30, 2015 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting * Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 8 $ 1,874 $ - $ - $ - $ 1,882 Obligations of states, municipalities and political subdivisions - 25,406 2,140 - - 27,546 Non-U.S. governments 709 17,688 31 - - 18,428 Corporate debt - 137,646 2,476 - - 140,122 RMBS - 18,766 16,859 - - 35,625 CMBS - 10,988 2,729 - - 13,717 CDO/ABS - 9,526 6,108 - - 15,634 Total bonds available for sale 717 221,894 30,343 - - 252,954 Other bond securities: U.S. government and government sponsored entities 155 3,658 - - - 3,813 Obligations of states, municipalities and political subdivisions - 75 - - - 75 Non-U.S. governments - 2 - - - 2 Corporate debt - 1,233 16 - - 1,249 RMBS - 784 1,501 - - 2,285 CMBS - 600 219 - - 819 CDO/ABS - 1,432 7,147 - - 8,579 Total other bond securities 155 7,784 8,883 - - 16,822 Equity securities available for sale: Common stock 2,961 - - - - 2,961 Preferred stock 23 - - - - 23 Mutual funds 806 2 - - - 808 Total equity securities available for sale 3,790 2 - - - 3,792 Other equity securities 1,044 - 22 - - 1,066 Mortgage and other loans receivable - - 11 - - 11 Other invested assets 2 4,371 4,960 - - 9,333 Derivative assets: Interest rate contracts - 4,070 13 - - 4,083 Foreign exchange contracts - 836 - - - 836 Equity contracts 121 14 40 - - 175 Commodity contracts - - - - - - Credit contracts - - 3 - - 3 Other contracts - - 27 - - 27 Counterparty netting and cash collateral - - - (1,691) (2,129) (3,820) Total derivative assets 121 4,920 83 (1,691) (2,129) 1,304 Short-term investments 1,032 1,701 - - - 2,733 Separate account assets 72,370 4,766 - - - 77,136 Total $ 79,231 $ 245,438 $ 44,302 $ (1,691) $ (2,129) $ 365,151 Liabilities: Policyholder contract deposits $ - $ 38 $ 2,249 $ - $ - $ 2,287 Other policyholder funds - 8 - - - 8 Derivative liabilities: Interest rate contracts - 2,787 71 - - 2,858 Foreign exchange contracts - 1,208 7 - - 1,215 Equity contracts - 82 1 - - 83 Commodity contracts - - - - - - Credit contracts - - 531 - - 531 Other contracts - 1 78 - - 79 Counterparty netting and cash collateral - - - (1,691) (910) (2,601) Total derivative liabilities - 4,078 688 (1,691) (910) 2,165 Long-term debt - 3,795 190 - - 3,985 Other liabilities 116 182 - - - 298 Total $ 116 $ 8,101 $ 3,127 $ (1,691) $ (910) $ 8,743 December 31, 2014 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting * Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 322 $ 2,670 $ - $ - $ - $ 2,992 Obligations of states, municipalities and political subdivisions - 25,500 2,159 - - 27,659 Non-U.S. governments 742 20,323 30 - - 21,095 Corporate debt - 142,550 1,883 - - 144,433 RMBS - 20,715 16,805 - - 37,520 CMBS - 10,189 2,696 - - 12,885 CDO/ABS - 7,165 6,110 - - 13,275 Total bonds available for sale 1,064 229,112 29,683 - - 259,859 Other bond securities: U.S. government and government sponsored entities 130 5,368 - - - 5,498 Obligations of states, municipalities and political subdivisions - 122 - - - 122 Non-U.S. governments - 2 - - - 2 Corporate debt - 719 - - - 719 RMBS - 989 1,105 - - 2,094 CMBS - 708 369 - - 1,077 CDO/ABS - 2,751 7,449 - - 10,200 Total other bond securities 130 10,659 8,923 - - 19,712 Equity securities available for sale: Common stock 3,626 2 1 - - 3,629 Preferred stock 25 - - - - 25 Mutual funds 738 3 - - - 741 Total equity securities available for sale 4,389 5 1 - - 4,395 Other equity securities 1,024 25 - - - 1,049 Mortgage and other loans receivable - - 6 - - 6 Other invested assets 2 3,742 5,650 - - 9,394 Derivative assets: Interest rate contracts 2 3,729 12 - - 3,743 Foreign exchange contracts - 839 1 - - 840 Equity contracts 98 58 51 - - 207 Commodity contracts - - - - - - Credit contracts - - 4 - - 4 Other contracts - - 31 - - 31 Counterparty netting and cash collateral - - - (2,102) (1,119) (3,221) Total derivative assets 100 4,626 99 (2,102) (1,119) 1,604 Short-term investments 584 1,100 - - - 1,684 Separate account assets 73,939 6,097 - - - 80,036 Total $ 81,232 $ 255,366 $ 44,362 $ (2,102) $ (1,119) $ 377,739 Liabilities: Policyholder contract deposits $ - $ 52 $ 1,509 $ - $ - $ 1,561 Other policyholder funds - 8 - - - 8 Derivative liabilities: Interest rate contracts - 3,047 86 - - 3,133 Foreign exchange contracts - 1,482 9 - - 1,491 Equity contracts - 98 4 - - 102 Commodity contracts - 6 - - - 6 Credit contracts - - 982 - - 982 Other contracts - - 90 - - 90 Counterparty netting and cash collateral - - - (2,102) (1,429) (3,531) Total derivative liabilities - 4,633 1,171 (2,102) (1,429) 2,273 Long-term debt - 5,253 213 - - 5,466 Other liabilities 34 316 - - - 350 Total $ 34 $ 10,262 $ 2,893 $ (2,102) $ (1,429) $ 9,658 * Represents netting of derivative exposures covered by a qualifying master netting agreement.
Changes in Level 3 recurring fair value measurements	Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issues and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Three Months Ended September 30, 2015 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,180 $ (1) $ (15) $ 16 $ - $ (40) $ 2,140 $ - Non-U.S. governments 33 - (1) (1) - - 31 - Corporate debt 2,118 5 2 (63) 987 (573) 2,476 - RMBS 17,097 265 (151) (352) - - 16,859 - CMBS 2,677 17 (15) 50 - - 2,729 - CDO/ABS 6,071 8 57 (21) 6 (13) 6,108 - Total bonds available for sale 30,176 294 (123) (371) 993 (626) 30,343 - Other bond securities: Corporate debt 16 - - - - - 16 - RMBS 1,337 (4) - 169 - (1) 1,501 (3) CMBS 223 (1) - (8) 5 - 219 (1) CDO/ABS 7,426 85 - (415) 51 - 7,147 23 Total other bond securities 9,002 80 - (254) 56 (1) 8,883 19 Equity securities available for sale: Common stock - - - - - - - - Total equity securities available for sale - - - - - - - - Other equity securities 22 - - - - - 22 - Mortgage and other loans receivable 6 - - 5 - - 11 - Other invested assets 5,075 (52) (90) 64 15 (52) 4,960 - Total $ 44,281 $ 322 $ (213) $ (556) $ 1,064 $ (679) $ 44,219 $ 19 Liabilities: Policyholder contract deposits $ (1,232) $ (871) $ - $ (146) $ - $ - $ (2,249) $ 32 Derivative liabilities, net: Interest rate contracts (62) (3) - 7 - - (58) (4) Foreign exchange contracts (7) (1) - 1 - - (7) (2) Equity contracts 63 (21) - (3) - - 39 (21) Commodity contracts - - - - - - - - Credit contracts (551) 11 - 12 - - (528) 23 Other contracts (16) (12) - (23) - - (51) (13) Total derivative liabilities, net (a) (573) (26) - (6) - - (605) (17) Long-term debt (b) (193) 3 - - - - (190) - Total $ (1,998) $ (894) $ - $ (152) $ - $ - $ (3,044) $ 15 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issues and Transfers Transfers End Instruments Held (in millions) of Period (a) in Income Income (Loss) Settlements, Net In Out of Period at End of Period Nine Months Ended September 30, 2015 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,159 $ - $ (94) $ 174 $ - $ (99) $ 2,140 $ - Non-U.S. governments 30 - (2) 3 - - 31 - Corporate debt 1,883 19 (31) (209) 1,443 (629) 2,476 - RMBS 16,805 804 (322) (428) - - 16,859 - CMBS 2,696 63 (45) 97 - (82) 2,729 - CDO/ABS 6,110 138 (110) 98 6 (134) 6,108 - Total bonds available for sale 29,683 1,024 (604) (265) 1,449 (944) 30,343 - Other bond securities: Corporate debt - - - - 16 - 16 - RMBS 1,105 22 - 389 44 (59) 1,501 (21) CMBS 369 7 - (162) 5 - 219 (3) CDO/ABS 7,449 482 - (1,341) 632 (75) 7,147 (55) Total other bond securities 8,923 511 - (1,114) 697 (134) 8,883 (79) Equity securities available for sale: Common stock 1 2 - (3) - - - - Total equity securities available for sale 1 2 - (3) - - - - Other equity securities - - - - 22 - 22 (2) Mortgage and other loans receivable 6 - - 5 - - 11 - Other invested assets 5,650 475 (639) (522) 113 (117) 4,960 - Total $ 44,263 $ 2,012 $ (1,243) $ (1,899) $ 2,281 $ (1,195) $ 44,219 $ (81) Liabilities: Policyholder contract deposits $ (1,509) $ (410) $ - $ (330) $ - $ - $ (2,249) $ 72 Derivative liabilities, net: Interest rate contracts (74) (3) - 19 - - (58) (4) Foreign exchange contracts (8) 2 - (1) - - (7) 1 Equity contracts 47 (15) - 7 - - 39 (19) Commodity contracts - - - - - - - - Credit contracts (978) 171 - 279 - - (528) 73 Other contracts (59) 61 - (53) - - (51) 53 Total derivative liabilities, net (a) (1,072) 216 - 251 - - (605) 104 Long-term debt (b) (213) 5 - 18 - - (190) 13 Total $ (2,794) $ (189) $ - $ (61) $ - $ - $ (3,044) $ 189 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair value Gains (Losses) Other Sales, Gross Gross Fair value in Income on Beginning Included Comprehensive Issues and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Three Months Ended September 30, 2014 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,991 $ (1) $ (11) $ 43 $ - $ (8) $ 2,014 $ - Non-U.S. governments 25 - - 1 - (3) 23 - Corporate debt 2,196 2 (22) (73) 3 (97) 2,009 - RMBS 16,328 264 (49) 375 - - 16,918 - CMBS 5,917 27 (39) 14 - (3) 5,916 - CDO/ABS 7,431 18 (2) 692 53 (35) 8,157 - Total bonds available for sale 33,888 310 (123) 1,052 56 (146) 35,037 - Other bond securities: RMBS 1,062 - - (39) - - 1,023 (9) CMBS 757 (24) - (20) - - 713 (21) CDO/ABS 8,397 257 - (451) - (134) 8,069 76 Total other bond securities 10,216 233 - (510) - (134) 9,805 46 Equity securities available for sale: Common stock - - 1 - - (1) - - Preferred stock - - - - - - - - Mutual funds - - - - 1 - 1 - Total equity securities available for sale - - 1 - 1 (1) 1 - Mortgage and other loans receivable 6 - - - - - 6 - Other invested assets 5,824 (7) 90 65 83 (246) 5,809 - Total $ 49,934 $ 536 $ (32) $ 607 $ 140 $ (527) $ 50,658 $ 46 Liabilities: Policyholder contract deposits $ (842) $ (155) $ 8 $ (2) $ - $ - $ (991) $ (21) Derivative liabilities, net: Interest rate contracts (67) (3) - 1 - (2) (71) (3) Foreign exchange contracts (9) - - 2 - - (7) - Equity contracts 91 6 - 2 - (53) 46 - Commodity contracts 1 (1) - - - - - - Credit contracts (1,085) 75 - (8) - - (1,018) 65 Other contracts (53) 14 4 (20) - - (55) 17 Total derivatives liabilities, net (a) (1,122) 91 4 (23) - (55) (1,105) 79 Long-term debt (b) (394) 21 - 1 - 75 (297) 16 Total $ (2,358) $ (43) $ 12 $ (24) $ - $ 20 $ (2,393) $ 74 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair value Gains (Losses) Other Sales, Gross Gross Fair value in Income on Beginning Included Comprehensive Issues and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Nine Months Ended September 30, 2014 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions (c) $ 1,080 $ (1) $ 180 $ 896 $ - $ (141) $ 2,014 $ - Non-U.S. governments 16 - (1) 7 4 (3) 23 - Corporate debt 1,255 8 31 (140) 1,358 (503) 2,009 - RMBS 14,941 759 211 999 119 (111) 16,918 - CMBS 5,735 50 201 (43) 69 (96) 5,916 - CDO/ABS 6,974 70 1 1,426 222 (536) 8,157 - Total bonds available for sale 30,001 886 623 3,145 1,772 (1,390) 35,037 - Other bond securities: RMBS 937 51 - 33 2 - 1,023 9 CMBS 844 14 - (151) 6 - 713 11 CDO/ABS 8,834 926 - (1,338) 1 (354) 8,069 341 Total other bond securities 10,615 991 - (1,456) 9 (354) 9,805 361 Equity securities available for sale: Common stock 1 - 1 - - (2) - - Preferred stock - - - - - - - - Mutual funds - - - - 1 - 1 - Total equity securities available for sale 1 - 1 - 1 (2) 1 - Mortgage and other loans receivable - - - 6 - - 6 - Other invested assets 5,930 80 139 99 168 (607) 5,809 - Total $ 46,547 $ 1,957 $ 763 $ 1,794 $ 1,950 $ (2,353) $ 50,658 $ 361 Liabilities: Policyholder contract deposits $ (312) $ (687) $ (16) $ 24 $ - $ - $ (991) $ (140) Derivative liabilities, net: Interest rate contracts (100) (2) - 33 - (2) (71) - Foreign exchange contracts - 3 - (10) - - (7) 4 Equity contracts 49 14 - (12) 48 (53) 46 6 Commodity contracts 1 - - - - (1) - - Credit contracts (1,280) 229 - 33 - - (1,018) 229 Other contracts (109) 49 51 (46) - - (55) 37 Total derivatives liabilities, net (a) (1,439) 293 51 (2) 48 (56) (1,105) 276 Long-term debt (b) (370) 13 - 34 (70) 96 (297) 15 Total $ (2,121) $ (381) $ 35 $ 56 $ (22) $ 40 $ (2,393) $ 151 (a) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only . (b) Includes guaranteed investment agreements ( GIAs ) , notes, bonds, loans and mortgages payable. ( c ) Purchases, Sales, Issues and Settlements, Net primarily reflect the effect of consolidating previously unconsolidated securitization vehicles.
Schedule of net realized and unrealized gains and losses related to Level 3 items	Net Net Realized Investment Capital Other (in millions) Income Gains (Losses) Income Total Three Months Ended September 30, 2015 Bonds available for sale $ 304 $ (15) $ 5 $ 294 Other bond securities 7 - 73 80 Equity securities available for sale - - - - Other invested assets (25) (22) (5) (52) Policyholder contract deposits - (871) - (871) Derivative liabilities, net - (17) (9) (26) Long-term debt - - 3 3 Three Months Ended September 30, 2014 Bonds available for sale $ 320 $ (22) $ 12 $ 310 Other bond securities (3) - 236 233 Equity securities available for sale - - - - Other invested assets 18 (20) (5) (7) Policyholder contract deposits - (155) - (155) Derivative liabilities, net 18 (1) 74 91 Long-term debt - - 21 21 Nine Months Ended September 30, 2015 Bonds available for sale $ 926 $ (14) $ 112 $ 1,024 Other bond securities 48 3 460 511 Equity securities available for sale - 2 - 2 Other invested assets 61 355 59 475 Policyholder contract deposits - (410) - (410) Derivative liabilities, net - (12) 228 216 Long-term debt - - 5 5 Nine Months Ended September 30, 2014 Bonds available for sale $ 922 $ (73) $ 37 $ 886 Other bond securities 97 2 892 991 Equity securities available for sale - - - - Other invested assets 107 (33) 6 80 Policyholder contract deposits - (687) - (687) Derivative liabilities, net 49 4 240 293 Long-term debt - - 13 13
Gross components of purchases, sales, issuances and settlements, net	Purchases, Sales, Issues and (in millions) Purchases Sales Settlements Settlements, Net (a) Three Months Ended September 30, 2015 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 35 $ - $ (19) $ 16 Non-U.S. governments 3 (1) (3) (1) Corporate debt 32 - (95) (63) RMBS 449 (29) (772) (352) CMBS 50 - - 50 CDO/ABS 160 (9) (172) (21) Total bonds available for sale 729 (39) (1,061) (371) Other bond securities: RMBS 218 (6) (43) 169 CMBS - - (8) (8) CDO/ABS 10 (5) (420) (415) Total other bond securities 228 (11) (471) (254) Equity securities available for sale - - - - Mortgage and other loans receivable 5 - - 5 Other invested assets 193 - (129) 64 Total assets $ 1,155 $ (50) $ (1,661) $ (556) Liabilities: Policyholder contract deposits $ - $ (122) $ (24) $ (146) Derivative liabilities, net 1 - (7) (6) Long-term debt (b) - - - - Total liabilities $ 1 $ (122) $ (31) $ (152) Three Months Ended September 30, 2014 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 66 $ (3) $ (20) $ 43 Non-U.S. governments 1 - - 1 Corporate debt 22 - (95) (73) RMBS 1,062 (62) (625) 375 CMBS 276 (167) (95) 14 CDO/ABS 1,085 (68) (325) 692 Total bonds available for sale 2,512 (300) (1,160) 1,052 Other bond securities: RMBS - (3) (36) (39) CMBS - (9) (11) (20) CDO/ABS 6 (4) (453) (451) Total other bond securities 6 (16) (500) (510) Equity securities available for sale - - - - Other invested assets 276 - (211) 65 Total assets $ 2,794 $ (316) $ (1,871) $ 607 Liabilities: Policyholder contract deposits $ - $ (36) $ 34 $ (2) Derivative liabilities, net - (2) (21) (23) Long-term debt (b) - - 1 1 Total liabilities $ - $ (38) $ 14 $ (24) Purchases, Sales, Issues and (in millions) Purchases Sales Settlements Settlements, Net (a) Nine Months Ended September 30, 2015 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 258 $ (22) $ (62) $ 174 Non-U.S. governments 11 (1) (7) 3 Corporate debt 220 (60) (369) (209) RMBS 1,856 (194) (2,090) (428) CMBS 192 (27) (68) 97 CDO/ABS 1,021 (210) (713) 98 Total bonds available for sale 3,558 (514) (3,309) (265) Other bond securities: RMBS 527 (16) (122) 389 CMBS - (79) (83) (162) CDO/ABS 236 (376) (1,201) (1,341) Total other bond securities 763 (471) (1,406) (1,114) Equity securities available for sale - (2) (1) (3) Mortgage and other loans receivable 5 - - 5 Other invested assets 497 (587) (432) (522) Total assets $ 4,823 $ (1,574) $ (5,148) $ (1,899) Liabilities: Policyholder contract deposits $ - $ (307) $ (23) $ (330) Derivative liabilities, net 18 - 233 251 Long-term debt (b) - - 18 18 Total liabilities $ 18 $ (307) $ 228 $ (61) Nine Months Ended September 30, 2014 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions (c) $ 1,002 $ (35) $ (71) $ 896 Non-U.S. governments 8 - (1) 7 Corporate debt 141 (8) (273) (140) RMBS 2,814 (88) (1,727) 999 CMBS 368 (224) (187) (43) CDO/ABS 2,307 (70) (811) 1,426 Total bonds available for sale 6,640 (425) (3,070) 3,145 Other bond securities: RMBS 162 (22) (107) 33 CMBS - (15) (136) (151) CDO/ABS 50 (19) (1,369) (1,338) Total other bond securities 212 (56) (1,612) (1,456) Equity securities available for sale - - - - Mortgage and other loans receivable 6 - - 6 Other invested assets 709 (1) (609) 99 Total assets $ 7,567 $ (482) $ (5,291) $ 1,794 Liabilities: Policyholder contract deposits $ - $ (94) $ 118 $ 24 Derivative liabilities, net 1 (2) (1) (2) Long-term debt (b) - - 34 34 Total liabilities $ 1 $ (96) $ 151 $ 56 (a) There were no issuances during the three - and nine -month period s ended September 30, 2015 and 2014 , respectively . (b) Includes GIAs, notes, bonds, loans and mortgages payable . (c) Purchases primarily reflect the effect of consolidating previously unconsolidated securitization vehicles .
Significant unobservable inputs used for recurring fair value measurements	Fair Value at September 30, Valuation Range (in millions) 2015 Technique Unobservable Input (Weighted Average) Assets: Obligations of states, $ 1,199 Discounted cash flow Yield (b) 4.34% - 5.16% (4.75%) municipalities and political subdivisions Corporate debt 1,506 Discounted cash flow Yield (b) 3.91% - 5.80% (4.85%) RMBS 17,609 Discounted cash flow Constant prepayment rate (a)(c) 0.93% - 8.91% (4.92%) Loss severity (a)(c) 45.29% - 77.96% (61.63%) Constant default rate (a)(c) 3.47% - 9.01% (6.24%) Yield (c) 3.02% - 5.96% (4.49%) CDO/ABS 3,217 Discounted cash flow Yield (c) 2.79% - 4.33% (3.56%) CMBS 2,656 Discounted cash flow Yield (b) 0.00% - 18.45% (6.07%) Liabilities: Policyholder contract deposits GMWB 1,392 Discounted cash flow Equity implied volatility (b) 6.00% - 39.00% (d) Base lapse rate (b) 0.50% - 30.00% (d) Dynamic lapse rate (b) 0.07% - 45.00% (d) Mortality rate (b) 0.05% - 35.00% (d) Utilization rate (b) 1.00% - 65.00% (d) Index Annuities 556 Discounted cash flow Lapse rate 0.75% - 66.00% (d) Mortality rate 0.02% - 44.06% (d) Indexed Life 295 Discounted cash flow Equity implied volatility 10.00% to 25.00% (d) Base lapse rate 2.00% to 19.00% (d) Mortality rate 0.00% to 20.00% (d) Fair Value at December 31, Valuation Range (in millions) 2014 Technique Unobservable Input (Weighted Average ) Assets: Obligations of states, $ 1,178 Discounted cash flow Yield (b) 3.9% - 4.62% (4.26%) municipalities and political subdivisions Corporate debt 1,145 Discounted cash flow Yield (b) 3.46% - 8.75% (6.10%) RMBS 17,353 Discounted cash flow Constant prepayment rate (a)(c) 0.59% - 9.35% (4.97%) Loss severity (a)(c) 46.04% - 79.56% (62.80%) Constant default rate (a)(c) 3.67% - 9.96% (6.82%) Yield (c) 2.67% - 6.64% (4.65%) CDO/ABS 5,282 Discounted cash flow Yield (c) 4.70% - 9.70% (7.10%) CMBS 2,687 Discounted cash flow Yield (b) 0.00% - 17.29% (6.06%) Liabilities: Policyholder contract deposits GMWB 890 Discounted cash flow Equity implied volatility (b) 6.00% - 39.00% (d) Base lapse rate (b) 1.00% - 40.00% (d) Dynamic lapse rate (b) 0.20% - 60.00% (d) Mortality rate (b) 0.10% - 35.00% (d) Utilization rate (b) 0.50% - 30.00% (d) Index Annuities 294 Discounted cash flow Lapse rate 0.75% - 66.00% (d) Mortality rate 0.02% - 44.06% (d) Indexed Life 259 Discounted cash flow Equity implied volatility 10.00% to 25.00% (d) Base lapse rate 2.00% to 19.00% (d) Mortality rate 0.00% to 20.00% (d) Total derivative liabilities, net (e) 791 BET Recovery rate (b) 5.00% - 23.00% (13.00%) Diversity score (b) 8 - 25 (13) Weighted average life (b) 2.67 - 10.49 years (4.65 years) (a) The unobservable inputs and ranges for the constant prepayment rate, loss severity and constant default rate relate to each of the individual underlying mortgage loans that comprise the entire portfolio of securities in the RMBS and CDO securitization vehicles and not necessarily to the securitization vehicle bonds (tranches) purchased by us. The ranges of these inputs do not directly correlate to changes in the fair values of the tranches purchased by us because there are other factors relevant to the fair values of specific tranches owned by us including, but not limited to, purchase price, position in the waterfall, senior versus subordinated position and attachment points . (b) Represents discount rates, estimates and assumptions that we believe wou ld be used by market participants when valuing these assets and liabilities . (c) Information received from independent third-party valuation service providers. ( d ) Represents actual maximum and minimum, not weighted average rates . (e) Beginning in the thi rd quarter of 2015 , we have begun valuing these transactions using prices obtained from vendors and/or counterparties and discontinued use of the BET model .
Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share	September 30, 2015 December 31, 2014 Fair Value Using Net Asset Value Per Share (or its equivalent) Fair Value Using Net Asset Value Per Share (or its equivalent) Unfunded Unfunded (in millions) Investment Category Includes Commitments Commitments Investment Category Private equity funds: Leveraged buyout Debt and/or equity investments made as part of a transaction in which assets of mature companies are acquired from the current shareholders, typically with the use of financial leverage $ 1,941 $ 423 $ 2,275 $ 450 Real Estate / Infrastructure Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities 328 202 384 227 Venture capital Early-stage, high-potential, growth companies expected to generate a return through an eventual realization event, such as an initial public offering or sale of the company 118 53 121 26 Distressed Securities of companies that are in default, under bankruptcy protection, or troubled 158 42 164 43 Other Includes multi-strategy, mezzanine and other strategies 288 260 216 234 Total private equity funds 2,833 980 3,160 980 Hedge funds: Event-driven Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations 1,242 - 1,109 - Long-short Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk 2,998 8 2,428 1 Macro Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions 552 - 498 - Distressed Securities of companies that are in default, under bankruptcy protection or troubled 736 10 731 5 Emerging markets Investments in the financial markets of developing countries 358 - 308 - Other Includes multi-strategy, relative value and other strategies 162 - 125 - Total hedge funds 6,048 18 5,199 6 Total $ 8,881 $ 998 $ 8,359 $ 986
Gains or losses related to the eligible instruments for which AIG elected the fair value option	Gain (Loss) Three Months Ended September 30, Gain (Loss) Nine Months Ended September 30, (in millions) 2015 2014 2015 2014 Assets: Bond and equity securities $ (106) $ 252 $ 495 $ 1,529 Alternative Investments (a) (115) 73 148 245 Other, including Short-term investments - 2 2 7 Liabilities: Long-term debt (b) (144) 23 (89) (186) Other liabilities - (4) (3) (10) Total gain (loss) $ (365) $ 346 $ 553 $ 1,585 (a) Includes hedge funds, private equity funds and other investment partnerships . ( b ) Includes GIAs, notes, bonds, loans and mortgages payable .
Difference between fair values and aggregate contractual principal amounts, fair value option	September 30, 2015 December 31, 2014 Outstanding Outstanding (in millions) Fair Value Principal Amount Difference Fair Value Principal Amount Difference Assets: Mortgage and other loans receivable $ 11 $ 9 $ 2 $ 6 $ 4 $ 2 Liabilities: Long-term debt * $ 3,985 $ 2,883 $ 1,102 $ 5,466 $ 4,101 $ 1,365 * Includes GIAs, notes, bonds, loans and mortgages payable.
Fair value assets measured on nonrecurring basis and impairment charges	Assets at Fair Value Impairment Charges Non-Recurring Basis Three Months Ended September 30, Nine Months Ended September 30, (in millions) Level 1 Level 2 Level 3 Total 2015 2014 2015 2014 September 30, 2015 Other investments $ - $ - $ 986 $ 986 $ 22 $ 62 $ 74 $ 117 Investments in life settlements - - 633 633 58 52 200 139 Other assets - - 12 12 4 1 12 2 Total $ - $ - $ 1,631 $ 1,631 $ 84 $ 115 $ 286 $ 258 December 31, 2014 Other investments $ - $ - $ 790 $ 790 Investments in life settlements - - 537 537 Other assets - - 1 1 Total $ - $ - $ 1,328 $ 1,328
Carrying value and estimated fair value of AIG's financial instruments	Estimated Fair Value Carrying (in millions) Level 1 Level 2 Level 3 Total Value September 30, 2015 Assets: Mortgage and other loans receivable $ - $ 202 $ 29,134 $ 29,336 $ 28,225 Other invested assets - 486 3,000 3,486 4,338 Short-term investments - 9,675 - 9,675 9,675 Cash 1,569 - - 1,569 1,569 Liabilities: Policyholder contract deposits associated with investment-type contracts - 268 115,672 115,940 107,422 Other liabilities - 1,756 - 1,756 1,756 Long-term debt - 22,993 4,742 27,735 26,734 December 31, 2014 Assets: Mortgage and other loans receivable $ - $ 449 $ 26,157 $ 26,606 $ 24,984 Other invested assets - 593 2,882 3,475 4,352 Short-term investments - 9,559 - 9,559 9,559 Cash 1,758 - - 1,758 1,758 Liabilities: Policyholder contract deposits associated with investment-type contracts - 244 119,268 119,512 106,395 Other liabilities - 1,120 - 1,120 1,120 Long-term debt - 24,749 2,932 27,681 25,751

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
INVESTMENTS
The amortized cost or cost and fair value of AIG's available for sale securities and other invested assets carried at fair value	Other-Than- Amortized Gross Gross Temporary Cost or Unrealized Unrealized Fair Impairments (in millions) Cost Gains Losses Value in AOCI (a) September 30, 2015 Bonds available for sale: U.S. government and government sponsored entities $ 1,705 $ 179 $ (2) $ 1,882 $ - Obligations of states, municipalities and political subdivisions 26,305 1,361 (120) 27,546 16 Non-U.S. governments 17,940 818 (330) 18,428 - Corporate debt 134,852 8,032 (2,762) 140,122 21 Mortgage-backed, asset-backed and collateralized: RMBS 32,891 3,046 (312) 35,625 1,479 CMBS 13,014 775 (72) 13,717 206 CDO/ABS 15,278 505 (149) 15,634 40 Total mortgage-backed, asset-backed and collateralized 61,183 4,326 (533) 64,976 1,725 Total bonds available for sale (b) 241,985 14,716 (3,747) 252,954 1,762 Equity securities available for sale: Common stock 986 1,993 (18) 2,961 - Preferred stock 19 4 - 23 - Mutual funds 801 43 (36) 808 - Total equity securities available for sale 1,806 2,040 (54) 3,792 - Total $ 243,791 $ 16,756 $ (3,801) $ 256,746 $ 1,762 December 31, 2014 Bonds available for sale: U.S. government and government sponsored entities $ 2,806 $ 204 $ (18) $ 2,992 $ - Obligations of states, municipalities and political subdivisions 25,979 1,729 (49) 27,659 (13) Non-U.S. governments 20,280 966 (151) 21,095 - Corporate debt 134,961 10,594 (1,122) 144,433 64 Mortgage-backed, asset-backed and collateralized: RMBS 34,377 3,435 (292) 37,520 1,767 CMBS 12,129 815 (59) 12,885 215 CDO/ABS 12,775 628 (128) 13,275 47 Total mortgage-backed, asset-backed and collateralized 59,281 4,878 (479) 63,680 2,029 Total bonds available for sale (b) 243,307 18,371 (1,819) 259,859 2,080 Equity securities available for sale: Common stock 1,185 2,461 (17) 3,629 - Preferred stock 21 4 - 25 - Mutual funds 724 54 (37) 741 - Total equity securities available for sale 1,930 2,519 (54) 4,395 - Total $ 245,237 $ 20,890 $ (1,873) $ 264,254 $ 2,080 (a) Represents the amount of other-than-temporary impairment s recognized in Accumulated other comprehensive income . Amount includes unrealized gains and losses on impaired securities relating to changes in the fair value of such securities subsequent to the impairment measurement date. (b) At September 30, 2015 and December 31, 2014 , bonds available for sale held by us that were below investment grade or not rated totaled $ 35.4 billion and $ 35.1 billion, respectively.
The fair value and gross unrealized losses on AIG's available for sale securities, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position	Less than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (in millions) Value Losses Value Losses Value Losses September 30, 2015 Bonds available for sale: U.S. government and government sponsored entities $ 121 $ 2 $ 1 $ - $ 122 $ 2 Obligations of states, municipalities and political subdivisions 3,190 103 259 17 3,449 120 Non-U.S. governments 4,140 194 725 136 4,865 330 Corporate debt 32,818 1,858 4,664 904 37,482 2,762 RMBS 5,056 82 4,146 230 9,202 312 CMBS 2,239 46 571 26 2,810 72 CDO/ABS 4,686 44 2,018 105 6,704 149 Total bonds available for sale 52,250 2,329 12,384 1,418 64,634 3,747 Equity securities available for sale: Common stock 96 18 6 - 102 18 Mutual funds 297 28 16 8 313 36 Total equity securities available for sale 393 46 22 8 415 54 Total $ 52,643 $ 2,375 $ 12,406 $ 1,426 $ 65,049 $ 3,801 December 31, 2014 Bonds available for sale: U.S. government and government sponsored entities $ 526 $ 5 $ 281 $ 13 $ 807 $ 18 Obligations of states, municipalities and political subdivisions 495 9 794 40 1,289 49 Non-U.S. governments 1,606 42 1,690 109 3,296 151 Corporate debt 12,132 450 11,570 672 23,702 1,122 RMBS 4,621 109 3,996 183 8,617 292 CMBS 220 1 2,087 58 2,307 59 CDO/ABS 3,857 50 1,860 78 5,717 128 Total bonds available for sale 23,457 666 22,278 1,153 45,735 1,819 Equity securities available for sale: Common stock 88 16 2 1 90 17 Mutual funds 280 37 64 - 344 37 Total equity securities available for sale 368 53 66 1 434 54 Total $ 23,825 $ 719 $ 22,344 $ 1,154 $ 46,169 $ 1,873
The amortized cost and fair value of fixed maturity securities available for sale by contractual maturity	Total Fixed Maturity Securities Fixed Maturity Securities in a Loss September 30, 2015 Available for Sale Position Available for Sale (in millions) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 10,295 $ 10,412 $ 945 $ 926 Due after one year through five years 46,854 49,320 7,176 6,915 Due after five years through ten years 55,985 57,443 17,681 16,601 Due after ten years 67,668 70,803 23,330 21,476 Mortgage-backed, asset-backed and collateralized 61,183 64,976 19,249 18,716 Total $ 241,985 $ 252,954 $ 68,381 $ 64,634 December 31, 2014 Due in one year or less $ 9,821 $ 9,975 $ 637 $ 620 Due after one year through five years 48,352 50,873 6,669 6,529 Due after five years through ten years 62,685 65,889 12,873 12,338 Due after ten years 63,168 69,442 10,255 9,607 Mortgage-backed, asset-backed and collateralized 59,281 63,680 17,120 16,641 Total $ 243,307 $ 259,859 $ 47,554 $ 45,735
The gross realized gains and gross realized losses from sales of AIG's available for sale securities	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Gross Gross Gross Gross Gross Gross Gross Gross Realized Realized Realized Realized Realized Realized Realized Realized (in millions) Gains Losses Gains Losses Gains Losses Gains Losses Fixed maturity securities $ 96 $ 112 $ 118 $ 21 $ 439 $ 289 $ 528 $ 65 Equity securities 24 8 33 4 544 16 102 10 Total $ 120 $ 120 $ 151 $ 25 $ 983 $ 305 $ 630 $ 75
The fair value of AIG's other securities	September 30, 2015 December 31, 2014 Fair Percent Fair Percent (in millions) Value of Total Value of Total Fixed maturity securities: U.S. government and government sponsored entities $ 3,813 21 % $ 5,498 27 % Obligations of states, municipalities and political subdivisions 75 - 122 1 Non-U.S. governments 2 - 2 - Corporate debt 1,249 7 719 3 Mortgage-backed, asset-backed and collateralized : RMBS 2,285 13 2,094 10 CMBS 819 5 1,077 5 CDO/ABS and other collateralized * 8,579 48 10,200 49 Total mortgage-backed, asset-backed and collateralized 11,683 66 13,371 64 Total fixed maturity securities 16,822 94 19,712 95 Equity securities 1,066 6 1,049 5 Total $ 17,888 100 % $ 20,761 100 % * Includes $ 748 million and $ 859 million of U.S. Government agency- backed ABS at September 30, 2015 and December 31, 2014 , respectively.
Components of net investment income	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 Fixed maturity securities, including short-term investments $ 2,794 $ 3,022 $ 8,477 $ 9,264 Equity securities (5) 135 76 67 Interest on mortgage and other loans 360 318 1,046 947 Alternative investments * 88 636 1,471 2,108 Real estate 66 25 116 86 Other investments 36 25 86 34 Total investment income 3,339 4,161 11,272 12,506 Investment expenses 133 133 402 398 Net investment income $ 3,206 $ 4,028 $ 10,870 $ 12,108 * Includes hedge funds, private equity funds, affordable housing partnerships, investments in life settlements and other investment partnerships.
Components of net realized capital gains (losses)	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 Sales of fixed maturity securities $ (16) $ 97 $ 150 $ 463 Sales of equity securities 16 29 528 92 Other-than-temporary impairments: Severity (10) - (12) - Change in intent (81) (14) (193) (20) Foreign currency declines (5) (3) (37) (13) Issuer-specific credit events (176) (31) (314) (124) Adverse projected cash flows (1) (2) (9) (7) Provision for loan losses 32 (11) 43 9 Foreign exchange transactions (16) 350 304 329 Derivative instruments 13 102 509 (114) Impairments on investments in life settlements (58) (52) (200) (139) Other (40) 71 356 * 70 Net realized capital gains (losses) $ (342) $ 536 $ 1,125 $ 546 * Includes realized gains due to the sale of Class B shares of Prudential Financial, Inc. and common shares of Spring l eaf Holdings, Inc. and realized losses on the sale of ordinary shares of AerCap .
Schedule of increase (decrease) in unrealized appreciation (depreciation) of available for sale securities and other investements	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ (1,180) $ (1,515) $ (5,583) $ 6,123 Equity securities (384) 303 (479) 348 Other investments (85) 94 (625) 127 Total Increase (decrease) in unrealized appreciation (depreciation) of investments $ (1,649) $ (1,118) $ (6,687) $ 6,598
Credit impairments recognized in earnings for available for sale fixed maturity securities	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 2,238 $ 3,166 $ 2,659 $ 3,872 Increases due to: Credit impairments on new securities subject to impairment losses 51 13 101 35 Additional credit impairments on previously impaired securities 37 5 84 59 Reductions due to: Credit impaired securities fully disposed of for which there was no prior intent or requirement to sell (63) (116) (213) (528) Credit impaired securities for which there is a current intent or anticipated requirement to sell (1) - (1) - Accretion on securities previously impaired due to credit * (197) (183) (565) (544) Other - - - (9) Balance, end of period $ 2,065 $ 2,885 $ 2,065 $ 2,885 * Represents both accretion recognized due to changes in cash flows expected to be collected over the remaining expected term of the credit impaired securities and the accretion due to the passage of time.
Schedule of Purchased Credit Impaired (PCI) Securities, at acquisition date	(in millions) At Date of Acquisition Contractually required payments (principal and interest) $ 32,656 Cash flows expected to be collected * 26,444 Recorded investment in acquired securities 17,662 * Represents undiscounted expected cash flows, including both principal and interes t .
Schedule of Purchased Credit Impaired (PCI) Securities, at reporting date	(in millions) September 30, 2015 December 31, 2014 Outstanding principal balance $ 17,017 $ 16,962 Amortized cost 12,408 12,216 Fair value 13,426 13,462
Activity for accretable yield on Purchased Credit Impaired (PCI) Securities	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 6,833 $ 7,042 $ 6,865 $ 6,940 Newly purchased PCI securities 136 358 551 1,127 Disposals - - (13) - Accretion (220) (223) (661) (654) Effect of changes in interest rate indices 4 (96) (140) (327) Net reclassification from (to) non-accretable difference, including effects of prepayments 180 30 331 25 Balance, end of period $ 6,933 $ 7,111 $ 6,933 $ 7,111
Schedule of fair value of securities pledged to counterparties under secured financing transactions	(in millions) September 30, 2015 December 31, 2014 Fixed maturity securities available for sale $ 996 $ - Other bond securities, at fair value $ 994 $ 2,122
Schedule of fair value of securities pledged to the entity under reverse repurchase agreements	(in millions) September 30, 2015 December 31, 2014 Securities collateral pledged to us $ 2,969 $ 2,506 Amount sold or repledged by us $ 126 $ 131

LENDING ACTIVITIES (Tables)

LENDING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2015
LENDING ACTIVITIES
Composition of Mortgages and other loans receivable	September 30, December 31, (in millions) 2015 2014 Commercial mortgages * $ 20,818 $ 18,909 Life insurance policy loans 2,625 2,710 Commercial loans, other loans and notes receivable 4,999 3,642 Total mortgage and other loans receivable 28,442 25,261 Allowance for losses (206) (271) Mortgage and other loans receivable, net $ 28,236 $ 24,990 * Commercial mortgages primarily represent loans for office s , retail , apartments and industrial properties, with exposures in California and New York representing the largest geographic concentrations ( aggregating approximately 12 percent and 21 percent , respectively, at September 30, 2015 , and 14 percent and 18 percent , respectively, at December 31, 2014 ) .
Schedule of credit quality indicators for the commercial mortgage loans	Number Percent of Class of (dollars in millions) Loans Apartments Offices Retail Industrial Hotel Others Total (c) Total $ September 30, 2015 Credit Quality Indicator: In good standing 956 $ 3,628 $ 7,375 $ 4,435 $ 1,980 $ 1,972 $ 1,030 $ 20,420 98 % Restructured (a) 9 - 150 25 18 16 6 215 1 90 days or less delinquent 5 - - - 6 - - 6 - >90 days delinquent or in process of foreclosure 5 - 177 - - - - 177 1 Total (b) 975 $ 3,628 $ 7,702 $ 4,460 $ 2,004 $ 1,988 $ 1,036 $ 20,818 100 % Allowance for loan losses $ 29 $ 62 $ 35 $ 14 $ 13 $ 9 $ 162 1 % December 31, 2014 Credit Quality Indicator: In good standing 1,007 $ 3,384 $ 6,100 $ 3,807 $ 1,689 $ 1,660 $ 1,812 $ 18,452 98 % Restructured (a) 7 - 343 7 - 17 - 367 2 90 days or less delinquent 6 - - 10 - - 5 15 - >90 days delinquent or in process of foreclosure 4 - 75 - - - - 75 - Total (b) 1,024 $ 3,384 $ 6,518 $ 3,824 $ 1,689 $ 1,677 $ 1,817 $ 18,909 100 % Allowance for loan losses $ 3 $ 86 $ 28 $ 22 $ 6 $ 14 $ 159 1 % (a) Loans that have been modified in troubled debt restructurings and are performing according to their restructured terms. For additional discussion of troubled debt restructurings , see Note 7 to the Consolidated Financial Statements in the 2014 Annual Report . (b) Does not reflect Allowance for loan l osses . (c) Over 99 percent of the commercial mortgages held at such respective dates were current as to payments of principal and interest .
Schedule of changes in the allowance for losses on Mortgage and other loans receivable	2015 2014 Nine Months Ended September 30, Commercial Other Commercial Other (in millions) Mortgages Loans Total Mortgages Loans Total Allowance, beginning of year $ 159 $ 112 $ 271 $ 201 $ 111 $ 312 Loans charged off (23) (6) (29) (10) (13) (23) Recoveries of loans previously charged off 4 1 5 - 16 16 Net charge-offs (19) (5) (24) (10) 3 (7) Provision for loan losses 22 (66) (44) (16) (6) (22) Other - 3 3 - 1 1 Allowance, end of period $ 162 * $ 44 $ 206 $ 175 * $ 109 $ 284 * Of the total allowance , $ 24 million and $ 86 million relate to individually assessed credit losses on $ 512 million and $ 246 million of commercial mortgage loans at September 30, 2015 and 2014 , respectively.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2015
VARIABLE INTEREST ENTITIES
Schedule of Consolidated Variable Interest Entities	(in millions) Real Estate and Investment Entities (d) Securitization Vehicles Structured Investment Vehicle Affordable Housing Partnerships Other Total September 30, 2015 Assets: Bonds available for sale $ - $ 10,915 $ - $ - $ 24 $ 10,939 Other bond securities - 6,310 451 - 37 6,798 Mortgage and other loans receivable 1 2,104 - - 139 2,244 Other invested assets 546 583 - 2,644 23 3,796 Other (a) 54 814 73 247 91 1,279 Total assets (b)(e) $ 601 $ 20,726 $ 524 $ 2,891 $ 314 $ 25,056 Liabilities: Long-term debt $ 23 $ 1,145 $ 54 $ 1,538 $ 6 $ 2,766 Other (c) 51 249 - 186 71 557 Total liabilities $ 74 $ 1,394 $ 54 $ 1,724 $ 77 $ 3,323 December 31, 2014 Assets: Bonds available for sale $ - $ 11,459 $ - $ - $ 35 $ 11,494 Other bond securities - 7,251 615 - 40 7,906 Mortgage and other loans receivable - 2,398 - - 162 2,560 Other invested assets 577 651 - 1,684 29 2,941 Other (a) 40 1,447 140 49 76 1,752 Total assets (b) $ 617 $ 23,206 $ 755 $ 1,733 $ 342 $ 26,653 Liabilities: Long-term debt $ 69 $ 1,370 $ 52 $ 199 $ 7 $ 1,697 Other (c) 32 276 - 101 37 446 Total liabilities $ 101 $ 1,646 $ 52 $ 300 $ 44 $ 2,143 (a) Comprised primarily of Short - term investments, Premiums and other receivable s and Other a ssets at both September 30, 2015 and December 31, 2014 . (b) T he assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other l iabilities and Deriv ative liabilities, at fair value, at both September 30, 2015 and December 31, 2014 . (d) At September 30, 2015 and December 31, 2014 , off-balance sheet exposure, primarily consisting of commitments to real estate and investment entities, was $ 127.2 million and $ 56.4 millio n, respectively. (e) Includes the effect of consolidating previously unconsolidated partnerships.
Schedule of Unconsolidated Variable Interest Entities	Maximum Exposure to Loss Total VIE On-Balance Off-Balance (in millions) Assets Sheet (a) Sheet Total September 30, 2015 Real estate and investment entities $ 21,844 $ 3,179 $ 393 $ 3,572 Affordable housing partnerships 5,262 1,004 - 1,004 Other 1,110 242 992 (b) 1,234 Total $ 28,216 $ 4,425 $ 1,385 $ 5,810 December 31, 2014 Real estate and investment entities $ 19,949 $ 2,785 $ 454 $ 3,239 Affordable housing partnerships 7,911 425 - 425 Other (c) 1,959 304 992 (b) 1,296 Total $ 29,819 $ 3,514 $ 1,446 $ 4,960 (a) At September 30, 2015 and December 31, 2014 , $ 4.1 billion and $ 3.2 billion , respectively, of our total unconsolidated VIE assets were recorded as Other invested assets. (b) These amounts represent our estimate of the maximum exposure to loss under certain insurance policies issued to VIEs if a hypothetical loss occurred to the extent of the full amount of the insured value. Our insurance policies cover defined risks and our estimate of liability is included in our insurance reserves on the balance sheet. (c ) The On-Balance and Off-Balance sheet amounts have been revised from $32 million and $0 to $304 million and $992 million, respectively, to correct the Maximum Exposure to Loss as of December 31, 2014, which are not considered material to previously issued financial statements.

DERIVATIVES AND HEDGE ACCOUNT32

DERIVATIVES AND HEDGE ACCOUNTING (Tables)	9 Months Ended
	Sep. 30, 2015
DERIVATIVES AND HEDGE ACCOUNTING
Notional amounts and fair values of derivative instruments	September 30, 2015 December 31, 2014 Gross Derivative Assets Gross Derivative Liabilities Gross Derivative Assets Gross Derivative Liabilities Notional Fair Notional Fair Notional Fair Notional Fair (in millions) Amount Value Amount Value Amount Value Amount Value Derivatives designated as hedging instruments: (a) Interest rate contracts $ 915 $ 5 $ 25 $ 2 $ 155 $ - $ 25 $ 2 Foreign exchange contracts 2,380 196 1,401 68 611 25 1,794 239 Equity contracts 15 2 113 5 7 1 104 13 Derivatives not designated as hedging instruments: (a) Interest rate contracts 60,521 4,078 51,865 2,893 65,070 3,743 45,251 3,183 Foreign exchange contracts 11,904 640 9,111 1,147 13,667 815 8,516 1,251 Equity contracts (b) 6,598 173 48,033 2,341 7,565 206 42,387 1,615 Commodity contracts - - - - 15 - 11 6 Credit contracts (c) 4 3 1,323 531 5 4 5,288 982 Other contracts (d) 35,974 27 250 79 36,155 31 538 90 Total derivatives, gross $ 118,311 $ 5,124 $ 112,121 $ 7,066 $ 123,250 $ 4,825 $ 103,914 $ 7,381 Counterparty netting (e) (1,691) (1,691) (2,102) (2,102) Cash collateral (f) (2,129) (910) (1,119) (1,429) Total derivatives, net 1,304 4,465 1,604 3,850 Less: Bifurcated embedded derivatives - 2,300 - 1,577 Total derivatives on condensed consolidated balance sheets (g) $ 1,304 $ 2,165 $ 1,604 $ 2,273 ( a ) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral . (b) Notional amount of derivative assets and fair value of derivative assets, related to bifurcated embedded derivatives, were zero at both September 30, 2015 and December 31, 2014 . Notional amount of derivative liabilities and fair value of derivative liabilities, related to bifurcated embedded derivatives, was $ 42.7 billion and $ 2.3 billion, respectively, at September 30, 2015 , and $ 39.3 billion and $ 1.5 billion, respectively, at December 31, 2014 . A bifurcated embedded derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets . (c ) As of September 30, 2015 and December 31, 2014 , includes super senior multi-sector CDOs with a net notional amount of $ 1.1 billion and $ 2.6 billion (fair value liability of $ 504 million and $ 947 million), respectively. The expected weighted average maturity as of September 30, 2015 is six years. Because of long-term maturities of the credit default swaps (CDSs) in the portfolio, we are unable to make reasonable estimates of the periods during which any payments would be made. However, the net notional amount represents the maximum exposure to loss on the portfolio. As of September 30, 2015 , there were no super senior corporate debt/CLOs remaining. As of December 31, 2014 , includes super senior corporate debt/CLOs with a net notional a mount of $ 2.5 billion (fair value liability of $ 7 million). ( d ) Consists primarily of contracts with multiple underlying exposures . (e) Represents netting of derivative exposures covered by a qualifying master netting agreement. (f) Represents cash collateral posted and received that is eligible for netting. (g) Derivative assets and liabilities are recorded in Other Assets and Liabilities, respectively.
Gain (loss) recognized in earnings on AIG's derivative instruments in fair value hedging relationships in the Consolidated Statements of Income	Gains/(Losses) Recognized in Earnings for: Including Gains/(Losses) Attributable to: Hedging Hedged Hedge Excluded (in millions) Derivatives (a) Items Ineffectiveness Components Other (b) Three Months Ended September 30, 2015 Interest rate contracts : Realized capital gains/(losses) $ 1 $ (1) $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - 2 - - 2 Gain/(Loss) on extinguishment of debt - 1 - - 1 Foreign exchange contracts : Realized capital gains/(losses) 81 (67) - 14 - Interest credited to policyholder account balances - - - - - Other income - 4 - - 4 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts : Realized capital gains/(losses) (4) 3 - (1) - Three Months Ended September 30, 2014 Interest rate contracts : Realized capital gains/(losses) $ - $ - $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - 10 - - 10 Gain/(Loss) on extinguishment of debt - - - - - Foreign exchange contracts : Realized capital gains/(losses) (76) 91 - 9 6 Interest credited to policyholder account balances - (1) - - (1) Other income - 7 - - 7 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts Realized capital gains/(losses) 4 (6) - (2) - Nine Months Ended September 30, 2015 Interest rate contracts : Realized capital gains/(losses) $ 1 $ (1) $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - 7 - - 7 Gain/(Loss) on extinguishment of debt - 14 - - 14 Foreign exchange contracts : Realized capital gains/(losses) 152 (123) - 27 2 Interest credited to policyholder account balances - (1) - - (1) Other income - 14 - - 14 Gain/(Loss) on extinguishment of debt - 17 - - 17 Equity contracts : Realized capital gains/(losses) (23) 21 - (2) - Nine Months Ended September 30, 2014 Interest rate contracts : Realized capital gains/(losses) $ 1 $ (2) $ - $ - $ (1) Interest credited to policyholder account balances 1 (1) - - - Other income - 38 - - 38 Gain/(Loss) on extinguishment of debt - 50 - - 50 Foreign exchange contracts : Realized capital gains/(losses) (20) 32 - (3) 15 Interest credited to policyholder account balances - (2) - - (2) Other income - 7 - - 7 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts Realized capital gains/(losses) (10) 8 - (2) - ( a ) The amounts presented do not include the periodic net coupon settlements of the derivative contract or the coupon income (expense) related to the hedged item. (b) Represents accretion/amortization of opening fair value of the hedged item at inception of hedge relationship, amortization of basis adjustment on hedged item following the discontinuation of hedge accounting, and the release of debt basis adjustment following the repurchase of issued debt that was part of previously-discontinued fair value h edge relationship.
Effect of AIG's derivative instruments not designated as hedging instruments in the Consolidated Statements of Income	Gains (Losses) Recognized in Earnings Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2015 2014 2015 2014 By Derivative Type: Interest rate contracts $ 469 $ 222 $ 402 $ 409 Foreign exchange contracts 51 253 321 276 Equity contracts * (586) (159) (39) (584) Commodity contracts - (2) (1) (1) Credit contracts 11 75 171 229 Other contracts 71 44 60 83 Total $ 16 $ 433 $ 914 $ 412 By Classification: Policy fees $ 20 $ 19 $ 59 $ 49 Net investment income 6 24 20 20 Net realized capital gains (losses) 20 79 496 (114) Other income (losses) (36) 309 334 447 Policyholder benefits and claims incurred 6 2 5 10 Total $ 16 $ 433 $ 914 $ 412 * Includes embedded derivative losses of $ (816) million and $ (147) million for the three - and nine -month periods ended September 30, 2015 , respectively, and embedded derivative losses of $ (86) million and $ (428) million for the three - and nine -month periods ended September 30, 2014 , respectively.

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Sep. 30, 2015
EQUITY
Rollforward of common stock outstanding	Common Treasury Common Stock Stock Issued Stock Outstanding Nine Months Ended September 30, 2015 Shares, beginning of year 1,906,671,492 (530,744,521) 1,375,926,971 Shares issued - 355,767 355,767 Shares repurchased - (129,488,123) (129,488,123) Shares, end of period 1,906,671,492 (659,876,877) 1,246,794,615
Accumulated Other Comprehensive Income (Loss)	Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than- Temporary Credit Impairments Were Taken Unrealized Appreciation (Depreciation) of All Other Investments Foreign Currency Translation Adjustments Retirement Plan Liabilities Adjustment (in millions) Total Balance, December 31, 2014, net of tax $ 1,043 $ 12,327 $ (1,784) $ (969) $ 10,617 Change in unrealized depreciation of investments (315) (6,372) - - (6,687) Change in deferred acquisition costs adjustment and other - 763 - - 763 Change in future policy benefits 92 807 - - 899 Change in foreign currency translation adjustments - - (901) - (901) Net actuarial gain - - - 417 417 Prior service cost - - - (210) (210) Change in deferred tax asset (liability) 54 1,493 167 (59) 1,655 Total other comprehensive income (loss) (169) (3,309) (734) 148 (4,064) Noncontrolling interests - - (4) - (4) Balance, September 30, 2015, net of tax $ 874 $ 9,018 $ (2,514) $ (821) $ 6,557 Balance, December 31, 2013, net of tax $ 936 $ 6,789 $ (952) $ (413) $ 6,360 Change in unrealized appreciation of investments 268 6,330 - - 6,598 Change in deferred acquisition costs adjustment and other 61 (433) - - (372) Change in future policy benefits (114) (781) - - (895) Change in foreign currency translation adjustments - - (149) - (149) Net actuarial gain - - - 40 40 Prior service cost - - - (36) (36) Change in deferred tax asset (liability) (41) (144) (40) 9 (216) Total other comprehensive income (loss) 174 4,972 (189) 13 4,970 Noncontrolling interests - (1) - - (1) Balance, September 30, 2014, net of tax $ 1,110 $ 11,762 $ (1,141) $ (400) $ 11,331
Other comprehensive income (loss) reclassification adjustments	Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than- Temporary Credit Impairments Were Taken Unrealized Appreciation (Depreciation) of All Other Investments Foreign Currency Translation Adjustments Retirement Plan Liabilities Adjustment (in millions) Total Three Months Ended September 30, 2015 Unrealized change arising during period $ (98) $ (1,275) $ (217) $ 303 $ (1,287) Less: Reclassification adjustments included in net income 13 (17) - 164 160 Total other comprehensive income (loss), before income tax expense (benefit) (111) (1,258) (217) 139 (1,447) Less: Income tax expense (benefit) (50) (401) 21 47 (383) Total other comprehensive income (loss), net of income tax expense (benefit) $ (61) $ (857) $ (238) $ 92 $ (1,064) Three Months Ended September 30, 2014 Unrealized change arising during period $ 132 $ (575) $ (120) $ (8) $ (571) Less: Reclassification adjustments included in net income 9 12 - 1 22 Total other comprehensive income (loss), before income tax expense (benefit) 123 (587) (120) (9) (593) Less: Income tax expense (benefit) 64 (419) (42) (15) (412) Total other comprehensive income (loss), net of income tax expense (benefit) $ 59 $ (168) $ (78) $ 6 $ (181) Nine Months Ended September 30, 2015 Unrealized change arising during period $ (155) $ (4,243) $ (901) $ 324 $ (4,975) Less: Reclassification adjustments included in net income 68 559 - 117 744 Total other comprehensive income (loss), before income tax expense (benefit) (223) (4,802) (901) 207 (5,719) Less: Income tax expense (benefit) (54) (1,493) (167) 59 (1,655) Total other comprehensive income (loss), net of income tax expense (benefit) $ (169) $ (3,309) $ (734) $ 148 $ (4,064) Nine Months Ended September 30, 2014 Unrealized change arising during period $ 242 $ 5,522 $ (149) $ 3 $ 5,618 Less: Reclassification adjustments included in net income 27 406 - (1) 432 Total other comprehensive income (loss), before income tax expense (benefit) 215 5,116 (149) 4 5,186 Less: Income tax expense (benefit) 41 144 40 (9) 216 Total other comprehensive income (loss), net of income tax expense (benefit) $ 174 $ 4,972 $ (189) $ 13 $ 4,970
Schedule of effect of the reclassification of significant items out of Accumulated other comprehensive income on the respective line items in the Consolidated Statements of Income	Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income (Loss) Three Months Ended September 30, (in millions) 2015 2014 Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were taken Investments $ 13 $ 9 Other realized capital gains Total 13 9 Unrealized appreciation (depreciation) of all other investments Investments (15) 117 Other realized capital gains Deferred acquisition costs adjustment (2) (40) Amortization of deferred policy acquisition costs Future policy benefits - (65) Policyholder benefits and losses incurred Total (17) 12 Change in retirement plan liabilities adjustment Prior - service cost 187 11 * Actuarial losses (23) (10) * Total 164 1 Total reclassifications for the period $ 160 $ 22 Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income (Loss) Nine Months Ended September 30, (in millions) 2015 2014 Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were taken Investments $ 68 $ 27 Other realized capital gains Total 68 27 Unrealized appreciation (depreciation) of all other investments Investments 609 528 Other realized capital gains Deferred acquisition costs adjustment (67) (35) Amortization of deferred policy acquisition costs Future policy benefits 17 (87) Policyholder benefits and losses incurred Total 559 406 Change in retirement plan liabilities adjustment Prior - service cost 210 35 * Actuarial losses (93) (36) * Total 117 (1) - Total reclassifications for the period $ 744 $ 432 - * These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 12 to the Condensed Consolidated Financial Statements.

EARNINGS PER SHARE (EPS) (Table

EARNINGS PER SHARE (EPS) (Tables)	9 Months Ended
	Sep. 30, 2015
EARNINGS PER SHARE (EPS)
Computation of basic and diluted EPS	Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions, except per share data) 2015 2014 2015 2014 Numerator for EPS: Income (loss) from continuing operations $ (180) $ 2,199 $ 4,071 $ 6,864 Less: Net income (loss) from continuing operations attributable to noncontrolling interests 34 9 34 (25) Income (loss) attributable to AIG common shareholders from continuing operations (214) 2,190 4,037 6,889 Income (loss) from discontinued operations, net of income tax expense (17) 2 - (15) Net income (loss) attributable to AIG common shareholders (231) 2,192 4,037 6,874 Denominator for EPS: Weighted average shares outstanding - basic 1,279,072,748 1,419,239,774 1,324,407,969 1,440,148,774 Dilutive shares (a) - 22,828,068 32,700,815 19,334,459 Weighted average shares outstanding - diluted (b) 1,279,072,748 1,442,067,842 1,357,108,784 1,459,483,233 Income per common share attributable to AIG: Basic: Income (loss) from continuing operations $ (0.17) $ 1.54 $ 3.05 $ 4.78 Income (loss) from discontinued operations $ (0.01) $ - $ - $ (0.01) Income (loss) attributable to AIG $ (0.18) $ 1.54 $ 3.05 $ 4.77 Diluted: Income (loss) from continuing operations $ (0.17) $ 1.52 $ 2.97 $ 4.72 Income (loss) from discontinued operations $ (0.01) $ - $ - $ (0.01) Income (loss) attributable to AIG $ (0.18) $ 1.52 $ 2.97 $ 4.71 (a) Shares in the diluted EPS calculation represent basic shares for the three -month period ended September 30, 2015 due to the net loss in that period. (b) Dilutive shares include our share-based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011. The number of shares excluded from diluted shares outstanding was 0.1 million and 0.2 million for the three - and nine -month periods ended September 30, 2015 , respectively, and 0.3 million for both the three - and nine -month periods ended September 30, 2014 , because the effect of including those shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2015
EMPLOYEE BENEFITS
Components of net periodic benefit cost	Pension Postretirement U.S. Non-U.S. U.S. Non-U.S. (in millions) Plans Plans Total Plans Plans Total Three Months Ended September 30, 2015 Components of net periodic benefit cost: Service cost $ 41 $ 10 $ 51 $ 1 $ - $ 1 Interest cost 54 6 60 2 1 3 Expected return on assets (74) (5) (79) - - - Amortization of prior service credit (6) (1) (7) (3) - (3) Amortization of net loss 21 2 23 - - - Curtailment gain (179) - (179) - - - Net periodic benefit (income) cost $ (143) $ 12 $ (131) $ - $ 1 $ 1 Three Months Ended September 30, 2014 Components of net periodic benefit cost: Service cost $ 42 $ 11 $ 53 $ 1 $ - $ 1 Interest cost 57 7 64 2 1 3 Expected return on assets (73) (6) (79) - - - Amortization of prior service credit (8) (1) (9) (3) - (3) Amortization of net loss 9 2 11 - - - Net periodic benefit cost $ 27 $ 13 $ 40 $ - $ 1 $ 1 Nine Months Ended September 30, 2015 Components of net periodic benefit cost: Service cost $ 144 $ 31 $ 175 $ 4 $ 2 $ 6 Interest cost 164 18 182 6 2 8 Expected return on assets (218) (17) (235) - - - Amortization of prior service credit (22) (2) (24) (8) - (8) Amortization of net loss 86 7 93 - - - Curtailment gain (179) (1) (180) - - - Net periodic benefit (income) cost $ (25) $ 36 $ 11 $ 2 $ 4 $ 6 Nine Months Ended September 30, 2014 Components of net periodic benefit cost: Service cost $ 130 $ 32 $ 162 $ 3 $ 1 $ 4 Interest cost 171 22 193 7 2 9 Expected return on assets (215) (17) (232) - - - Amortization of prior service credit (25) (2) (27) (8) - (8) Amortization of net loss 31 6 37 - - - Net periodic benefit cost $ 92 $ 41 $ 133 $ 2 $ 3 $ 5

INFORMATION PROVIDED IN CONNE36

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)	9 Months Ended
	Sep. 30, 2015
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT
Condensed Consolidating Balance Sheets	American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG September 30, 2015 Assets: Short-term investments $ 5,531 $ - $ 7,234 $ (357) $ 12,408 Other investments (a) 9,028 - 324,965 - 333,993 Total investments 14,559 - 332,199 (357) 346,401 Cash 20 3 1,546 - 1,569 Loans to subsidiaries (b) 31,354 - 543 (31,897) - Investment in consolidated subsidiaries (b) 59,411 32,486 - (91,897) - Other assets, including deferred income taxes 25,428 260 130,952 (2,625) 154,015 Total assets $ 130,772 $ 32,749 $ 465,240 $ (126,776) $ 501,985 Liabilities: Insurance liabilities $ - $ - $ 267,946 $ - $ 267,946 Long-term debt 20,794 707 9,218 - 30,719 Other liabilities, including intercompany balances (a) 10,439 185 96,104 (3,027) 103,701 Loans from subsidiaries (b) 540 - 31,357 (31,897) - Total liabilities 31,773 892 404,625 (34,924) 402,366 Total AIG shareholders’ equity 98,999 31,857 59,995 (91,852) 98,999 Non-redeemable noncontrolling interests - - 620 - 620 Total equity 98,999 31,857 60,615 (91,852) 99,619 Total liabilities and equity $ 130,772 $ 32,749 $ 465,240 $ (126,776) $ 501,985 December 31, 2014 Assets: Short-term investments $ 6,078 $ - $ 6,231 $ (1,066) $ 11,243 Other investments (a) 11,415 - 333,108 - 344,523 Total investments 17,493 - 339,339 (1,066) 355,766 Cash 26 91 1,641 - 1,758 Loans to subsidiaries (b) 31,070 - 779 (31,849) - Investment in consolidated subsidiaries (b) 62,811 35,850 - (98,661) - Other assets, including deferred income taxes 23,835 2,305 141,826 (9,909) 158,057 Total assets $ 135,235 $ 38,246 $ 483,585 $ (141,485) $ 515,581 Liabilities: Insurance liabilities $ - $ - $ 270,615 $ - $ 270,615 Long-term debt 21,190 820 9,207 - 31,217 Other liabilities, including intercompany balances (a) 6,196 2,314 108,189 (10,222) 106,477 Loans from subsidiaries (b) 951 - 30,898 (31,849) - Total liabilities 28,337 3,134 418,909 (42,071) 408,309 Total AIG shareholders’ equity 106,898 35,112 64,302 (99,414) 106,898 Non-redeemable noncontrolling interests - - 374 - 374 Total equity 106,898 35,112 64,676 (99,414) 107,272 Total liabilities and equity $ 135,235 $ 38,246 $ 483,585 $ (141,485) $ 515,581 (a) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment . (b) Eliminated in consolidation.
Condensed Consolidating Statements of Income (loss)	American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Three Months Ended September 30, 2015 Revenues: Equity in earnings of consolidated subsidiaries * $ 717 $ 222 $ - $ (939) $ - Other income (221) - 13,220 (177) 12,822 Total revenues 496 222 13,220 (1,116) 12,822 Expenses: Interest expense 254 14 83 (30) 321 Loss on extinguishment of debt 345 - 1 - 346 Other expenses 352 - 12,064 (146) 12,270 Total expenses 951 14 12,148 (176) 12,937 Income (loss) from continuing operations before income tax expense (benefit) (455) 208 1,072 (940) (115) Income tax expense (benefit) (224) (6) 295 - 65 Income (loss) from continuing operations (231) 214 777 (940) (180) Loss from discontinued operations, net of income taxes - - (17) - (17) Net income (loss) (231) 214 760 (940) (197) Less: Net income from continuing operations attributable to noncontrolling interests - - 34 - 34 Net income (loss) attributable to AIG $ (231) $ 214 $ 726 $ (940) $ (231) Three Months Ended September 30, 2014 Revenues: Equity in earnings of consolidated subsidiaries * $ 2,661 $ 1,315 $ - $ (3,976) $ - Other income 615 - 16,161 (79) 16,697 Total revenues 3,276 1,315 16,161 (4,055) 16,697 Expenses: Interest expense 378 22 62 (32) 430 Loss on extinguishment of debt 682 - 60 - 742 Other expenses 284 61 12,196 (35) 12,506 Total expenses 1,344 83 12,318 (67) 13,678 Income (loss) from continuing operations before income tax expense (benefit) 1,932 1,232 3,843 (3,988) 3,019 Income tax expense (benefit) (261) (33) 1,117 (3) 820 Income (loss) from continuing operations 2,193 1,265 2,726 (3,985) 2,199 Income (loss) from discontinued operations, net of income taxes (1) - 3 - 2 Net income (loss) 2,192 1,265 2,729 (3,985) 2,201 Less: Net income from continuing operations attributable to noncontrolling interests - - 9 - 9 Net income (loss) attributable to AIG $ 2,192 $ 1,265 $ 2,720 $ (3,985) $ 2,192 American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Nine Months Ended September 30, 2015 Revenues: Equity in earnings of consolidated subsidiaries * $ 5,793 $ 1,744 $ - $ (7,537) $ - Other income (57) - 45,050 (497) 44,496 Total revenues 5,736 1,744 45,050 (8,034) 44,496 Expenses: Interest expense 810 44 213 (90) 977 Loss on extinguishment of debt 703 - 46 7 756 Other expenses 899 42 36,016 (407) 36,550 Total expenses 2,412 86 36,275 (490) 38,283 Income (loss) from continuing operations before income tax expense (benefit) 3,324 1,658 8,775 (7,544) 6,213 Income tax expense (benefit) (714) (69) 2,925 - 2,142 Income (loss) from continuing operations 4,038 1,727 5,850 (7,544) 4,071 Income (loss) from discontinued operations, net of income taxes (1) - 1 - - Net income (loss) 4,037 1,727 5,851 (7,544) 4,071 Less: Net income from continuing operations attributable to noncontrolling interests - - 34 - 34 Net income (loss) attributable to AIG $ 4,037 $ 1,727 $ 5,817 $ (7,544) $ 4,037 Nine Months Ended September 30, 2014 Revenues: Equity in earnings of consolidated subsidiaries * $ 8,149 $ 2,789 $ - $ (10,938) $ - Other income 1,094 - 48,165 (263) 48,996 Total revenues 9,243 2,789 48,165 (11,201) 48,996 Expenses: Interest expense 1,210 80 180 (98) 1,372 Loss on extinguishment of debt 987 - 77 (50) 1,014 Other expenses 1,310 79 35,564 (115) 36,838 Total expenses 3,507 159 35,821 (263) 39,224 Income (loss) from continuing operations before income tax expense (benefit) 5,736 2,630 12,344 (10,938) 9,772 Income tax expense (benefit) (1,137) (54) 4,121 (22) 2,908 Income (loss) from continuing operations 6,873 2,684 8,223 (10,916) 6,864 Income (loss) from discontinued operations, net of income taxes 1 - (16) - (15) Net income (loss) 6,874 2,684 8,207 (10,916) 6,849 Less: Net loss from continuing operations attributable to noncontrolling interests - - (25) - (25) Net income (loss) attributable to AIG $ 6,874 $ 2,684 $ 8,232 $ (10,916) $ 6,874 * Eliminated in consolidation.
Condensed Consolidating Statements of Comprehensive Income (loss)	American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Three Months Ended September 30, 2015 Net income (loss) $ (231) $ 214 $ 760 $ (940) $ (197) Other comprehensive income (loss) (1,063) (548) 187 360 (1,064) Comprehensive income (loss) (1,294) (334) 947 (580) (1,261) Total comprehensive income attributable to noncontrolling interests - - 33 - 33 Comprehensive income (loss) attributable to AIG $ (1,294) $ (334) $ 914 $ (580) $ (1,294) Three Months Ended September 30, 2014 Net income (loss) $ 2,192 $ 1,265 $ 2,729 $ (3,985) $ 2,201 Other comprehensive income (loss) (180) (259) (1,885) 2,143 (181) Comprehensive income (loss) 2,012 1,006 844 (1,842) 2,020 Total comprehensive income attributable to noncontrolling interests - - 8 - 8 Comprehensive income (loss) attributable to AIG $ 2,012 $ 1,006 $ 836 $ (1,842) $ 2,012 Nine Months Ended September 30, 2015 Net income (loss) $ 4,037 $ 1,727 $ 5,851 $ (7,544) $ 4,071 Other comprehensive income (loss) (4,060) 3,942 52,820 (56,766) (4,064) Comprehensive income (loss) (23) 5,669 58,671 (64,310) 7 Total comprehensive income attributable to noncontrolling interests - - 30 - 30 Comprehensive income (loss) attributable to AIG $ (23) $ 5,669 $ 58,641 $ (64,310) $ (23) Nine Months Ended September 30, 2014 Net income (loss) $ 6,874 $ 2,684 $ 8,207 $ (10,916) $ 6,849 Other comprehensive income (loss) 4,971 2,522 1,848 (4,371) 4,970 Comprehensive income (loss) 11,845 5,206 10,055 (15,287) 11,819 Total comprehensive loss attributable to noncontrolling interests - - (26) - (26) Comprehensive income (loss) attributable to AIG $ 11,845 $ 5,206 $ 10,081 $ (15,287) $ 11,845
Condensed Consolidating Statements of Cash Flows	American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries * Eliminations * AIG Nine Months Ended September 30, 2015 Net cash provided by operating activities 3,675 1,386 508 (3,335) 2,234 Cash flows from investing activities: Sales of investments 5,610 - 52,234 (3,363) 54,481 Purchase of investments (1,373) - (49,465) 3,363 (47,475) Loans to subsidiaries - net (1,227) - 2,690 (1,463) - Contributions to subsidiaries - net - - - - - Net change in restricted cash - - 1,476 - 1,476 Net change in short-term investments 1,940 - (2,968) - (1,028) Other, net (4) - (770) - (774) Net cash provided by investing activities 4,946 - 3,197 (1,463) 6,680 Cash flows from financing activities: Issuance of long-term debt 5,540 - 909 - 6,449 Repayments of long-term debt (5,728) (115) (2,500) - (8,343) Purchase of Common Stock (7,473) - - - (7,473) Intercompany loans - net (236) - (1,227) 1,463 - Cash dividends paid (687) (1,359) (1,976) 3,335 (687) Other, net (43) - 1,033 - 990 Net cash (used in) financing activities (8,627) (1,474) (3,761) 4,798 (9,064) Effect of exchange rate changes on cash - - (39) - (39) Change in cash (6) (88) (95) - (189) Cash at beginning of year 26 91 1,641 - 1,758 Reclassification to assets held for sale - - - - - Cash at end of period $ 20 $ 3 $ 1,546 $ - $ 1,569 Nine Months Ended September 30, 2014 Net cash provided by operating activities 7,228 4,333 3,979 (11,183) 4,357 Cash flows from investing activities: Sales of investments 2,032 - 45,254 (725) 46,561 Purchase of investments (1,257) - (42,549) 725 (43,081) Loans to subsidiaries - net (1,687) - 327 1,360 - Contributions from (to) subsidiaries - net 77 - - (77) - Net change in restricted cash (5) - (655) - (660) Net change in short-term investments 2,947 - (605) - 2,342 Other, net (61) - (234) - (295) Net cash provided by investing activities 2,046 - 1,538 1,283 4,867 Cash flows from financing activities: Issuance of long-term debt 2,489 - 3,338 - 5,827 Repayments of long-term debt (7,368) (165) (4,028) - (11,561) Intercompany loans - net (47) (279) 1,686 (1,360) - Purchase of common stock (3,403) - - - (3,403) Cash dividends paid to shareholders (539) (3,931) (7,252) 11,183 (539) Other, net (324) - 322 77 75 Net cash (used in) financing activities (9,192) (4,375) (5,934) 9,900 (9,601) Effect of exchange rate changes on cash - - (19) - (19) Change in cash 82 (42) (436) - (396) Cash at beginning of year 30 51 2,160 - 2,241 Change in cash of businesses held for sale - - 88 - 88 Cash at end of period $ 112 $ 9 $ 1,812 $ - $ 1,933
Supplementary Disclosure of Condensed Consolidating Cash Flow Information	American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries * Eliminations * AIG Cash (paid) received during the 2015 period for: Interest: Third party $ (846) $ (57) $ (209) $ - $ (1,112) Intercompany - - - - - Taxes: Income tax authorities $ (17) $ - $ (389) $ - $ (406) Intercompany 1,769 - (1,769) - - Cash (paid) received during the 2014 period for: Interest: Third party $ (1,238) $ (87) $ (1,171) $ - $ (2,496) Intercompany (1) (7) 8 - - Taxes: Income tax authorities $ (18) $ - $ (596) $ - $ (614) Intercompany 1,348 - (1,348) - -
Supplementary disclosure of non-cash activities	Nine Months Ended September 30, (in millions) 2015 2014 Intercompany non-cash financing and investing activities: Capital contributions $ 111 $ 993 Dividends received in the form of securities 1,997 1,538 Return of capital * - 4,836 Consideration received from sale of shares of AerCap 500 - * Includes $ 4.8 billion return of capital from AIG Capital Corporation related to the sale of ILFC .

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ / shares in Units, shares in Millions, $ in Millions	May. 14, 2014USD ($)shares	Aug. 31, 2015USD ($)shares	Jun. 30, 2015USD ($)shares	Sep. 30, 2015item$ / shares	Dec. 31, 2014$ / shares	May. 13, 2014$ / shares
Basis of Presentation [Line Items]
Common stock, par value (in dollars per share) | $ / shares				$ 2.5	$ 2.5
Interest rate (as a percent)			6.50%
Bonds available for sale, maturity year			2,045
CallOptionMember
Basis of Presentation [Line Items]
Bonds available for sale, maturity year			2,025
International Lease Finance Corporation (ILFC)
Basis of Presentation [Line Items]
Percentage of common stock agreed to be sold	100.00%
Consideration in cash | $	$ 7,600
Number of shares received	97.6
Aer Cap
Basis of Presentation [Line Items]
Closing price per share (in dollars per share) | $ / shares						$ 47.01
Equity Method Investment, Number of shares sold			86.9
Number of Available For Sale Investments Sold		10.7
Cash Proceeds from Sales of AerCap | $		$ 500	$ 3,700
Aer Cap | Private Placement
Basis of Presentation [Line Items]
Equity Method Investment, Number of shares sold			15.7
Cash Proceeds from Sales of AerCap | $			$ 250
Aer Cap | Underwritten public offering
Basis of Presentation [Line Items]
Equity Method Investment, Number of shares sold			71.2
Cash Proceeds from Sales of AerCap | $			$ 3,400
Minimum
Basis of Presentation [Line Items]
Number of Countries in which the entity operates | item				100

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)segment	Sep. 30, 2014USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			2
Total revenues	$ 12,822	$ 16,697	$ 44,496	$ 48,996
Pre-tax Income (loss) from continuing operations	(115)	3,019	6,213	9,772
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Loss on extinguishment of debt	(346)	(742)	(756)	(1,014)
Net realized capital gains (losses)	(342)	536	1,125	546
Revenues and pre-tax income	(115)	3,019	6,213	9,772
Reportable Segments | Commercial Insurance
Segment Reporting Information [Line Items]
Total revenues	6,559	7,313	21,069	21,665
Pre-tax Income (loss) from continuing operations	815	1,240	3,777	4,286
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	815	1,240	3,777	4,286
Reportable Segments | Commercial Insurance | Operating Segments | Property Casualty
Segment Reporting Information [Line Items]
Total revenues	5,715	6,425	17,904	18,868
Pre-tax Income (loss) from continuing operations	569	952	2,931	3,313
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	569	952	2,931	3,313
Reportable Segments | Commercial Insurance | Operating Segments | Mortgage Guaranty
Segment Reporting Information [Line Items]
Total revenues	266	262	791	769
Pre-tax Income (loss) from continuing operations	162	135	464	421
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	162	135	464	421
Reportable Segments | Commercial Insurance | Operating Segments | Institutional Markets
Segment Reporting Information [Line Items]
Total revenues	578	626	2,374	2,028
Pre-tax Income (loss) from continuing operations	84	153	382	552
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	84	153	382	552
Reportable Segments | Consumer Insurance
Segment Reporting Information [Line Items]
Total revenues	6,652	7,210	20,481	21,468
Pre-tax Income (loss) from continuing operations	657	1,264	2,625	3,551
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	657	1,264	2,625	3,551
Reportable Segments | Consumer Insurance | Operating Segments | Retirement
Segment Reporting Information [Line Items]
Total revenues	2,203	2,472	7,056	7,367
Pre-tax Income (loss) from continuing operations	635	1,094	2,239	2,773
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	635	1,094	2,239	2,773
Reportable Segments | Consumer Insurance | Operating Segments | Life
Segment Reporting Information [Line Items]
Total revenues	1,578	1,575	4,823	4,745
Pre-tax Income (loss) from continuing operations	(40)	50	280	500
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	(40)	50	280	500
Reportable Segments | Consumer Insurance | Operating Segments | Personal Insurance
Segment Reporting Information [Line Items]
Total revenues	2,871	3,163	8,602	9,356
Pre-tax Income (loss) from continuing operations	62	120	106	278
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	62	120	106	278
Consolidation and Eliminations
Segment Reporting Information [Line Items]
Total revenues	(141)	(168)	(416)	(356)
Pre-tax Income (loss) from continuing operations	(11)	(68)	(80)	(42)
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	(11)	(68)	(80)	(42)
Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	109	1,121	2,270	3,218
Pre-tax Income (loss) from continuing operations	(613)	149	(79)	39
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	(613)	149	(79)	39
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income
Segment Reporting Information [Line Items]
Total revenues	13,179	15,476	43,404	45,995
Pre-tax Income (loss) from continuing operations	848	2,585	6,243	7,834
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Revenues and pre-tax income	848	2,585	6,243	7,834
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income | Revenue
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense	4	32	(39)	162
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	0	0	0	0
Loss on extinguishment of debt	0	0	0	0
Net realized capital gains (losses)	(342)	536	1,125	546
Net gain (loss) on sale of divested businesses	0	0	(48)	1,602
Non-operating litigation reserves and settlements	0	653	91	691
Reserve development related to non-operating run-off insurance business	0		0
Restructuring and other costs	0		0
Other	(19)		(37)
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income | Pre-Tax Operating Income (loss)
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense	4	32	(39)	162
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	(2)	(45)	(84)	(90)
Loss on extinguishment of debt	(346)	(742)	(756)	(1,014)
Net realized capital gains (losses)	(342)	536	1,125	546
Net gain (loss) on sale of divested businesses	(3)	17	(58)	2,189
Non-operating litigation reserves and settlements	30	$ 636	86	$ 145
Reserve development related to non-operating run-off insurance business	(30)		(30)
Restructuring and other costs	(274)		(274)
Other	$ 0		$ 0

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details - Fair Value Measurements on a Recurring Basis) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	$ 252,954		$ 252,954		$ 259,859
Other bond securities	16,822		16,822		19,712
Equity securities available for sale	3,792		3,792		4,395
Other equity securities	1,066		1,066		1,049
Other invested assets	9,333		9,333		9,394
Derivative assets, at fair value	1,304		1,304		1,604
Derivative assets, Counterparty netting, Fair Value	1,691		1,691		2,102
Derivative assets, Cash collateral, Fair Value	2,129		2,129		1,119
Short-term investments, portion measured at fair value	2,733		2,733		1,684
Separate account assets, at fair value	77,136		77,136		80,036
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	2,287		2,287		1,561
Other policyholder funds	4,192		4,192		4,669
Derivative liabilities, at fair value	2,165		2,165		2,273
Derivative liabilities, Counterparty netting, Fair Value	1,691		1,691		2,102
Derivative liabilities, Cash collateral, Fair Value	910		910		1,429
Long-term debt, portion measured at fair value	3,985		3,985		5,466
Other liabilities	298		298		350
Recurring Basis
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2			180
Assets transferred from Level 2 to Level 1	0	$ 0	0	$ 0
Recurring Basis | U.S. government and government sponsored entities
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	0	4		107
Recurring Basis | Non-U.S. government
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	188	$ 32	450	$ 330
Recurring Basis | Level 1
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	717		717		1,064
Other bond securities	155		155		130
Equity securities available for sale	3,790		3,790		4,389
Other equity securities	1,044		1,044		1,024
Mortgage and other loans receivable	0		0
Other invested assets	2		2		2
Derivative assets, at fair value	121		121		100
Short-term investments, portion measured at fair value	1,032		1,032		584
Separate account assets, at fair value	72,370		72,370		73,939
Other assets	0		0
Fair value assets measured on recurring basis, total	79,231		79,231		81,232
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0
Other policyholder funds	0		0
Derivative liabilities, at fair value	0		0
Long-term debt, portion measured at fair value	0		0
Other liabilities	116		116		34
Fair value liabilities measured on recurring basis, total	116		116		34
Recurring Basis | Level 1 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0		2
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 1 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 1 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	121		121		98
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 1 | Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 1 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 1 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 1 | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 1 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	8		8		322
Other bond securities	155		155		130
Recurring Basis | Level 1 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Level 1 | Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	709		709		742
Other bond securities	0		0
Recurring Basis | Level 1 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Level 1 | Residential mortgage backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Level 1 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Level 1 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Level 1 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	2,961		2,961		3,626
Recurring Basis | Level 1 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	23		23		25
Recurring Basis | Level 1 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	806		806		738
Recurring Basis | Level 2
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	221,894		221,894		229,112
Other bond securities	7,784		7,784		10,659
Equity securities available for sale	2		2		5
Other equity securities	0		0		25
Mortgage and other loans receivable	0		0
Other invested assets	4,371		4,371		3,742
Derivative assets, at fair value	4,920		4,920		4,626
Short-term investments, portion measured at fair value	1,701		1,701		1,100
Separate account assets, at fair value	4,766		4,766		6,097
Other assets	0		0		0
Fair value assets measured on recurring basis, total	245,438		245,438		255,366
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	38		38		52
Other policyholder funds	8		8		8
Derivative liabilities, at fair value	4,078		4,078		4,633
Long-term debt, portion measured at fair value	3,795		3,795		5,253
Other liabilities	182		182		316
Fair value liabilities measured on recurring basis, total	8,101		8,101		10,262
Recurring Basis | Level 2 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	4,070		4,070		3,729
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	2,787		2,787		3,047
Recurring Basis | Level 2 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	836		836		839
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	1,208		1,208		1,482
Recurring Basis | Level 2 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	14		14		58
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	82		82		98
Recurring Basis | Level 2 | Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0		6
Recurring Basis | Level 2 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 2 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	1		1		0
Recurring Basis | Level 2 | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 2 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1,874		1,874		2,670
Other bond securities	3,658		3,658		5,368
Recurring Basis | Level 2 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	25,406		25,406		25,500
Other bond securities	75		75		122
Recurring Basis | Level 2 | Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	17,688		17,688		20,323
Other bond securities	2		2		2
Recurring Basis | Level 2 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	137,646		137,646		142,550
Other bond securities	1,233		1,233		719
Recurring Basis | Level 2 | Residential mortgage backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	18,766		18,766		20,715
Other bond securities	784		784		989
Recurring Basis | Level 2 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	10,988		10,988		10,189
Other bond securities	600		600		708
Recurring Basis | Level 2 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	9,526		9,526		7,165
Other bond securities	1,432		1,432		2,751
Recurring Basis | Level 2 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		2
Recurring Basis | Level 2 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		0
Recurring Basis | Level 2 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	2		2		3
Recurring Basis | Level 3
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	30,343		30,343		29,683
Other bond securities	8,883		8,883		8,923
Equity securities available for sale	0		0		1
Other equity securities	22		22
Mortgage and other loans receivable	11		11		6
Other invested assets	4,960		4,960		5,650
Derivative assets, at fair value	83		83		99
Short-term investments, portion measured at fair value	0		0
Separate account assets, at fair value	0		0
Other assets	0		0
Fair value assets measured on recurring basis, total	44,302		44,302		44,362
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	2,249		2,249		1,509
Other policyholder funds	0		0
Derivative liabilities, at fair value	688		688		1,171
Long-term debt, portion measured at fair value	190		190		213
Other liabilities	0		0
Fair value liabilities measured on recurring basis, total	3,127		3,127		2,893
Recurring Basis | Level 3 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	13		13		12
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	71		71		86
Recurring Basis | Level 3 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0		1
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	7		7		9
Recurring Basis | Level 3 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	40		40		51
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	1		1		4
Recurring Basis | Level 3 | Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 3 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	3		3		4
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	531		531		982
Recurring Basis | Level 3 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	27		27		31
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	78		78		90
Recurring Basis | Level 3 | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Level 3 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Level 3 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,140		2,140		2,159
Other bond securities	0		0
Recurring Basis | Level 3 | Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	31		31		30
Other bond securities	0		0
Recurring Basis | Level 3 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,476		2,476		1,883
Other bond securities	16		16
Recurring Basis | Level 3 | Residential mortgage backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	16,859		16,859		16,805
Other bond securities	1,501		1,501		1,105
Recurring Basis | Level 3 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,729		2,729		2,696
Other bond securities	219		219		369
Recurring Basis | Level 3 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	6,108		6,108		6,110
Other bond securities	7,147		7,147		7,449
Recurring Basis | Level 3 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		1
Recurring Basis | Level 3 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0
Recurring Basis | Level 3 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0
Recurring Basis | Counterparty Netting
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Equity securities available for sale	0		0
Other equity securities	0		0
Mortgage and other loans receivable	0		0
Other invested assets	0		0
Derivative assets, Counterparty netting, Fair Value	(1,691)		(1,691)		(2,102)
Short-term investments, portion measured at fair value	0		0
Separate account assets, at fair value	0		0
Other assets	0		0
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0
Derivative liabilities, Counterparty netting, Fair Value	(1,691)		(1,691)		(2,102)
Long-term debt, portion measured at fair value	0		0
Other liabilities	0		0
Recurring Basis | Counterparty Netting | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Counterparty Netting | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Counterparty Netting | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Counterparty Netting | Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Counterparty Netting | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Counterparty Netting | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Counterparty Netting | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Counterparty netting, Fair Value	(1,691)		(1,691)		(2,102)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Counterparty netting, Fair Value	(1,691)		(1,691)		(2,102)
Recurring Basis | Counterparty Netting | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Counterparty Netting | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Counterparty Netting | Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Counterparty Netting | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Counterparty Netting | Residential mortgage backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Counterparty Netting | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Counterparty Netting | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Counterparty Netting | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0
Recurring Basis | Counterparty Netting | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0
Recurring Basis | Counterparty Netting | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0
Recurring Basis | Cash Collateral
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Equity securities available for sale	0		0
Other equity securities	0		0
Mortgage and other loans receivable	0		0
Other invested assets	0		0
Derivative assets, Cash collateral, Fair Value	(2,129)		(2,129)		(1,119)
Short-term investments, portion measured at fair value	0		0
Separate account assets, at fair value	0		0
Other assets	0		0
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0
Derivative liabilities, Cash collateral, Fair Value	(910)		(910)		(1,429)
Long-term debt, portion measured at fair value	0		0
Other liabilities	0		0
Recurring Basis | Cash Collateral | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Cash Collateral | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Cash Collateral | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Cash Collateral | Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Cash Collateral | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Cash Collateral | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0
Recurring Basis | Cash Collateral | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Cash collateral, Fair Value	(2,129)		(2,129)		(1,119)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Cash collateral, Fair Value	(910)		(910)		(1,429)
Recurring Basis | Cash Collateral | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Cash Collateral | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Cash Collateral | Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Cash Collateral | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Cash Collateral | Residential mortgage backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Cash Collateral | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Cash Collateral | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0
Other bond securities	0		0
Recurring Basis | Cash Collateral | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0
Recurring Basis | Cash Collateral | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0
Recurring Basis | Cash Collateral | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0
Recurring Basis | Total Fair Value
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	252,954		252,954		259,859
Other bond securities	16,822		16,822		19,712
Equity securities available for sale	3,792		3,792		4,395
Other equity securities	1,066		1,066		1,049
Mortgage and other loans receivable	11		11		6
Other invested assets	9,333		9,333		9,394
Derivative assets, at fair value	1,304		1,304		1,604
Short-term investments, portion measured at fair value	2,733		2,733		1,684
Separate account assets, at fair value	77,136		77,136		80,036
Other assets	0		0		0
Fair value assets measured on recurring basis, total	365,151		365,151		377,739
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	2,287		2,287		1,561
Other policyholder funds	8		8		8
Derivative liabilities, at fair value	2,165		2,165		2,273
Long-term debt, portion measured at fair value	3,985		3,985		5,466
Other liabilities	298		298		350
Fair value liabilities measured on recurring basis, total	8,743		8,743		9,658
Recurring Basis | Total Fair Value | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	4,083		4,083		3,743
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	2,858		2,858		3,133
Recurring Basis | Total Fair Value | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	836		836		840
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	1,215		1,215		1,491
Recurring Basis | Total Fair Value | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	175		175		207
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	83		83		102
Recurring Basis | Total Fair Value | Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	0		0		6
Recurring Basis | Total Fair Value | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	3		3		4
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	531		531		982
Recurring Basis | Total Fair Value | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	27		27		31
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	79		79		90
Recurring Basis | Total Fair Value | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	(3,820)		(3,820)		(3,221)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	(2,601)		(2,601)		(3,531)
Recurring Basis | Total Fair Value | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1,882		1,882		2,992
Other bond securities	3,813		3,813		5,498
Recurring Basis | Total Fair Value | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	27,546		27,546		27,659
Other bond securities	75		75		122
Recurring Basis | Total Fair Value | Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	18,428		18,428		21,095
Other bond securities	2		2		2
Recurring Basis | Total Fair Value | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	140,122		140,122		144,433
Other bond securities	1,249		1,249		719
Recurring Basis | Total Fair Value | Residential mortgage backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	35,625		35,625		37,520
Other bond securities	2,285		2,285		2,094
Recurring Basis | Total Fair Value | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	13,717		13,717		12,885
Other bond securities	819		819		1,077
Recurring Basis | Total Fair Value | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,634		15,634		13,275
Other bond securities	8,579		8,579		10,200
Recurring Basis | Total Fair Value | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	2,961		2,961		3,629
Recurring Basis | Total Fair Value | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	23		23		25
Recurring Basis | Total Fair Value | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	$ 808		$ 808		$ 741

FAIR VALUE MEASUREMENTS (Deta40

FAIR VALUE MEASUREMENTS (Details - Changes in Level 3 Recurring Fair Value Measurements) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	$ 44,281	$ 49,934	$ 44,263	$ 46,547
Net Realized and Unrealized Gains (Losses) Included in Income	322	536	2,012	1,957
Other Comprehensive Income (Loss)	(213)	(32)	(1,243)	763
Purchases, Sales, Issues and Settlements, Net	(556)	607	(1,899)	1,794
Gross Transfers in, assets	1,064	140	2,281	1,950
Gross Transfers out, assets	(679)	(527)	(1,195)	(2,353)
Balance End of Period	44,219	50,658	44,219	50,658
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets			(81)
Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	19	46	(79)	361
Policyholder contract deposits
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(1,232)	(842)	(1,509)	(312)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(871)	(155)	(410)	(687)
Other Comprehensive Income (Loss)	0	8	0	(16)
Purchases, Sales, Issues and Settlements-Net	(146)	(2)	(330)	24
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	(2,249)	(991)	(2,249)	(991)
Policyholder contract deposits | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	32	(21)	72	(140)
Interest rate contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(62)	(67)	(74)	(100)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(3)	(3)	(3)	(2)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	7	1	19	33
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	(2)	0	(2)
Balance at the End of the Period	(58)	(71)	(58)	(71)
Interest rate contracts | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(4)	(3)	(4)	0
Foreign exchange contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(7)	(9)	(8)	0
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(1)	0	2	3
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	1	2	(1)	(10)
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	(7)	(7)	(7)	(7)
Foreign exchange contracts | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(2)	0	1	4
Equity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	63	91	47	49
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(21)	6	(15)	14
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	(3)	2	7	(12)
Gross Transfers in, liabilities	0	0	0	48
Gross Transfers out, liabilities	0	(53)	0	(53)
Balance at the End of the Period	39	46	39	46
Equity contracts | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(21)	0	(19)	6
Commodity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	0	1	0	1
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	(1)	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	0	0	0	0
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	(1)
Balance at the End of the Period	0	0	0	0
Commodity contracts | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Purchases, Sales, Issues and Settlements-Net		0
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	0	0	0	0
Credit contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(551)	(1,085)	(978)	(1,280)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	11	75	171	229
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	12	(8)	279	33
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	(528)	(1,018)	(528)	(1,018)
Credit contracts | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	23	65	73	229
Other contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(16)	(53)	(59)	(109)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(12)	14	61	49
Other Comprehensive Income (Loss)	0	4	0	51
Purchases, Sales, Issues and Settlements-Net	(23)	(20)	(53)	(46)
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	(51)	(55)	(51)	(55)
Other contracts | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(13)	17	53	37
Derivative liabilities, net
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(573)	(1,122)	(1,072)	(1,439)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(26)	91	216	293
Other Comprehensive Income (Loss)	0	4	0	51
Purchases, Sales, Issues and Settlements-Net	(6)	(23)	251	(2)
Gross Transfers in, liabilities	0	0	0	48
Gross Transfers out, liabilities	0	(55)	0	(56)
Balance at the End of the Period	(605)	(1,105)	(605)	(1,105)
Derivative liabilities, net | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(17)	79	104	276
Long-term debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(193)	(394)	(213)	(370)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	3	21	5	13
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	0	1	18	34
Gross Transfers in, liabilities	0	0	0	(70)
Gross Transfers out, liabilities	0	75	0	96
Balance at the End of the Period	(190)	(297)	(190)	(297)
Long-term debt | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	0	16	13	15
Liabilities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(1,998)	(2,358)	(2,794)	(2,121)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(894)	(43)	(189)	(381)
Other Comprehensive Income (Loss)	0	12	0	35
Purchases, Sales, Issues and Settlements-Net	(152)	(24)	(61)	56
Gross Transfers in, liabilities	0	0	0	(22)
Gross Transfers out, liabilities	0	20	0	40
Balance at the End of the Period	(3,044)	(2,393)	(3,044)	(2,393)
Liabilities | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	15	74	189	151
Bonds available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	30,176	33,888	29,683	30,001
Net Realized and Unrealized Gains (Losses) Included in Income	294	310	1,024	886
Other Comprehensive Income (Loss)	(123)	(123)	(604)	623
Purchases, Sales, Issues and Settlements, Net	(371)	1,052	(265)	3,145
Gross Transfers in, assets	993	56	1,449	1,772
Gross Transfers out, assets	(626)	(146)	(944)	(1,390)
Balance End of Period	30,343	35,037	30,343	35,037
Bonds available for sale | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	2,180	1,991	2,159	1,080
Net Realized and Unrealized Gains (Losses) Included in Income	(1)	(1)	0	(1)
Other Comprehensive Income (Loss)	(15)	(11)	(94)	180
Purchases, Sales, Issues and Settlements, Net	16	43	174	896
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	(40)	(8)	(99)	(141)
Balance End of Period	2,140	2,014	2,140	2,014
Bonds available for sale | Obligations of states, municipalities and political subdivisions | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Non-U.S. government
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	33	25	30	16
Net Realized and Unrealized Gains (Losses) Included in Income	0	0	0	0
Other Comprehensive Income (Loss)	(1)	0	(2)	(1)
Purchases, Sales, Issues and Settlements, Net	(1)	1	3	7
Gross Transfers in, assets	0	0	0	4
Gross Transfers out, assets	0	(3)	0	(3)
Balance End of Period	31	23	31	23
Bonds available for sale | Non-U.S. government | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	2,118	2,196	1,883	1,255
Net Realized and Unrealized Gains (Losses) Included in Income	5	2	19	8
Other Comprehensive Income (Loss)	2	(22)	(31)	31
Purchases, Sales, Issues and Settlements, Net	(63)	(73)	(209)	(140)
Gross Transfers in, assets	987	3	1,443	1,358
Gross Transfers out, assets	(573)	(97)	(629)	(503)
Balance End of Period	2,476	2,009	2,476	2,009
Bonds available for sale | Corporate debt | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Residential mortgage backed securities (RMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	17,097	16,328	16,805	14,941
Net Realized and Unrealized Gains (Losses) Included in Income	265	264	804	759
Other Comprehensive Income (Loss)	(151)	(49)	(322)	211
Purchases, Sales, Issues and Settlements, Net	(352)	375	(428)	999
Gross Transfers in, assets	0	0	0	119
Gross Transfers out, assets	0	0	0	(111)
Balance End of Period	16,859	16,918	16,859	16,918
Bonds available for sale | Residential mortgage backed securities (RMBS) | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Commercial mortgage-backed securities (CMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	2,677	5,917	2,696	5,735
Net Realized and Unrealized Gains (Losses) Included in Income	17	27	63	50
Other Comprehensive Income (Loss)	(15)	(39)	(45)	201
Purchases, Sales, Issues and Settlements, Net	50	14	97	(43)
Gross Transfers in, assets	0	0	0	69
Gross Transfers out, assets	0	(3)	(82)	(96)
Balance End of Period	2,729	5,916	2,729	5,916
Bonds available for sale | Commercial mortgage-backed securities (CMBS) | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	6,071	7,431	6,110	6,974
Net Realized and Unrealized Gains (Losses) Included in Income	8	18	138	70
Other Comprehensive Income (Loss)	57	(2)	(110)	1
Purchases, Sales, Issues and Settlements, Net	(21)	692	98	1,426
Gross Transfers in, assets	6	53	6	222
Gross Transfers out, assets	(13)	(35)	(134)	(536)
Balance End of Period	6,108	8,157	6,108	8,157
Bonds available for sale | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS) | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Other Bond securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	9,002	10,216	8,923	10,615
Net Realized and Unrealized Gains (Losses) Included in Income	80	233	511	991
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(254)	(510)	(1,114)	(1,456)
Gross Transfers in, assets	56	0	697	9
Gross Transfers out, assets	(1)	(134)	(134)	(354)
Balance End of Period	8,883	9,805	8,883	9,805
Other Bond securities | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	19	46	(79)	361
Other Bond securities | Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	16
Gross Transfers in, assets			16
Balance End of Period	16		16
Other Bond securities | Residential mortgage backed securities (RMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1,337	1,062	1,105	937
Net Realized and Unrealized Gains (Losses) Included in Income	(4)	0	22	51
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	169	(39)	389	33
Gross Transfers in, assets	0	0	44	2
Gross Transfers out, assets	(1)	0	(59)	0
Balance End of Period	1,501	1,023	1,501	1,023
Other Bond securities | Residential mortgage backed securities (RMBS) | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(3)	(9)	(21)	9
Other Bond securities | Commercial mortgage-backed securities (CMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	223	757	369	844
Net Realized and Unrealized Gains (Losses) Included in Income	(1)	(24)	7	14
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(8)	(20)	(162)	(151)
Gross Transfers in, assets	5	0	5	6
Gross Transfers out, assets	0	0	0	0
Balance End of Period	219	713	219	713
Other Bond securities | Commercial mortgage-backed securities (CMBS) | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(1)	(21)	(3)	11
Other Bond securities | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	7,426	8,397	7,449	8,834
Net Realized and Unrealized Gains (Losses) Included in Income	85	257	482	926
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(415)	(451)	(1,341)	(1,338)
Gross Transfers in, assets	51	0	632	1
Gross Transfers out, assets	0	(134)	(75)	(354)
Balance End of Period	7,147	8,069	7,147	8,069
Other Bond securities | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS) | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	23	76	(55)	341
Equity securities available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	0	1	1
Net Realized and Unrealized Gains (Losses) Included in Income	0	0	2	0
Other Comprehensive Income (Loss)	0	1	0	1
Purchases, Sales, Issues and Settlements, Net	0	0	(3)	0
Gross Transfers in, assets	0	1	0	1
Gross Transfers out, assets	0	(1)	0	(2)
Balance End of Period	0	1	0	1
Equity securities available for sale | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Equity securities available for sale | Common Stock
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	0	1	1
Net Realized and Unrealized Gains (Losses) Included in Income	0	0	2	0
Other Comprehensive Income (Loss)	0	1	0	1
Purchases, Sales, Issues and Settlements, Net	0	0	(3)	0
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	0	(1)	0	(2)
Balance End of Period	0	0	0	0
Equity securities available for sale | Common Stock | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Equity securities available for sale | Preferred Stock
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	0	0	0
Net Realized and Unrealized Gains (Losses) Included in Income	0	0	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	0	0	0	0
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	0	0	0	0
Balance End of Period	0	0	0	0
Equity securities available for sale | Preferred Stock | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Equity securities available for sale | Mutual Funds
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0
Gross Transfers in, assets	0	1		1
Balance End of Period	0	1	0	1
Equity securities available for sale | Mutual Funds | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0
Other invested assets
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	5,075	5,824	5,650	5,930
Net Realized and Unrealized Gains (Losses) Included in Income	(52)	(7)	475	80
Other Comprehensive Income (Loss)	(90)	90	(639)	139
Purchases, Sales, Issues and Settlements, Net	64	65	(522)	99
Gross Transfers in, assets	15	83	113	168
Gross Transfers out, assets	(52)	(246)	(117)	(607)
Balance End of Period	4,960	5,809	4,960	5,809
Other invested assets | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0		0
Mortgage and other loans receivable
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	6		6
Purchases, Sales, Issues and Settlements, Net	5	0	5	6
Balance End of Period	11	$ 6	11	$ 6
Equity securities trading
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	22		0
Gross Transfers in, assets			22
Balance End of Period	$ 22		22
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets			$ (2)

FAIR VALUE MEASUREMENTS (Deta41

FAIR VALUE MEASUREMENTS (Details - Net realized and unrealized gains and losses related to Level 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	$ 322	$ 536	$ 2,012	$ 1,957
Policyholder contract deposits
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(871)	(155)	(410)	(687)
Policyholder contract deposits | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0	0	0
Policyholder contract deposits | Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(871)	(155)	(410)	(687)
Policyholder contract deposits | Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0	0	0
Derivative liabilities, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(26)	91	216	293
Derivative liabilities, net | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	18	0	49
Derivative liabilities, net | Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(17)	(1)	(12)	4
Derivative liabilities, net | Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(9)	74	228	240
Long-term debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	3	21	5	13
Long-term debt | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0	0	0
Long-term debt | Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0	0	0
Long-term debt | Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	3	21	5	13
Bonds available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	294	310	1,024	886
Bonds available for sale | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	304	320	926	922
Bonds available for sale | Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	(15)	(22)	(14)	(73)
Bonds available for sale | Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	5	12	112	37
Other Bond securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	80	233	511	991
Other Bond securities | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	7	(3)	48	97
Other Bond securities | Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0	0	3	2
Other Bond securities | Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	73	236	460	892
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0	0	2	0
Equity securities | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0	0	0	0
Equity securities | Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0	0	2	0
Equity securities | Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0	0	0	0
Other invested assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	(52)	(7)	475	80
Other invested assets | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	(25)	18	61	107
Other invested assets | Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	(22)	(20)	355	(33)
Other invested assets | Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	$ (5)	$ (5)	$ 59	$ 6

FAIR VALUE MEASUREMENTS (Deta42

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issues and settlements) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, Sales, Issues and Settlements, Net, assets	$ (556)	$ 607	$ (1,899)	$ 1,794
Transfers into Level 3 at end of reporting period, net gains (losses) not included in realized and unrealized gains and losses related to Level 3 for the period	17	(2)	35	35
Transfers out Level 3 at end of reporting period, net gains (losses) not included in realized and unrealized gains and losses related to Level 3 for the period.	3	52	6	50
Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	1	0	18	1
Sales, liabilities	(122)	(38)	(307)	(96)
Settlements, liabilities	(31)	14	228	151
Purchases, Sales, Issues and Settlements, Net, liabilities	(152)	(24)	(61)	56
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	0	0	0	0
Sales, liabilities	(122)	(36)	(307)	(94)
Settlements, liabilities	(24)	34	(23)	118
Purchases, Sales, Issues and Settlements, Net, liabilities	(146)	(2)	(330)	24
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	1	0	18	1
Sales, liabilities	0	(2)	0	(2)
Settlements, liabilities	(7)	(21)	233	(1)
Purchases, Sales, Issues and Settlements, Net, liabilities	(6)	(23)	251	(2)
Long-term debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	0	0	0	0
Sales, liabilities	0	0	0	0
Settlements, liabilities	0	1	18	34
Purchases, Sales, Issues and Settlements, Net, liabilities	0	1	18	34
Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	1,155	2,794	4,823	7,567
Sales, assets	(50)	(316)	(1,574)	(482)
Settlements, assets	(1,661)	(1,871)	(5,148)	(5,291)
Purchases, Sales, Issues and Settlements, Net, assets	(556)	607	(1,899)	1,794
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	729	2,512	3,558	6,640
Sales, assets	(39)	(300)	(514)	(425)
Settlements, assets	(1,061)	(1,160)	(3,309)	(3,070)
Purchases, Sales, Issues and Settlements, Net, assets	(371)	1,052	(265)	3,145
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	35	66	258	1,002
Sales, assets	0	(3)	(22)	(35)
Settlements, assets	(19)	(20)	(62)	(71)
Purchases, Sales, Issues and Settlements, Net, assets	16	43	174	896
Bonds available for sale | Non-U.S. government
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	3	1	11	8
Sales, assets	(1)	0	(1)	0
Settlements, assets	(3)	0	(7)	(1)
Purchases, Sales, Issues and Settlements, Net, assets	(1)	1	3	7
Bonds available for sale | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	32	22	220	141
Sales, assets	0	0	(60)	(8)
Settlements, assets	(95)	(95)	(369)	(273)
Purchases, Sales, Issues and Settlements, Net, assets	(63)	(73)	(209)	(140)
Bonds available for sale | Residential mortgage backed securities (RMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	449	1,062	1,856	2,814
Sales, assets	(29)	(62)	(194)	(88)
Settlements, assets	(772)	(625)	(2,090)	(1,727)
Purchases, Sales, Issues and Settlements, Net, assets	(352)	375	(428)	999
Bonds available for sale | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	50	276	192	368
Sales, assets	0	(167)	(27)	(224)
Settlements, assets	0	(95)	(68)	(187)
Purchases, Sales, Issues and Settlements, Net, assets	50	14	97	(43)
Bonds available for sale | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	160	1,085	1,021	2,307
Sales, assets	(9)	(68)	(210)	(70)
Settlements, assets	(172)	(325)	(713)	(811)
Purchases, Sales, Issues and Settlements, Net, assets	(21)	692	98	1,426
Other Bond securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	228	6	763	212
Sales, assets	(11)	(16)	(471)	(56)
Settlements, assets	(471)	(500)	(1,406)	(1,612)
Purchases, Sales, Issues and Settlements, Net, assets	(254)	(510)	(1,114)	(1,456)
Other Bond securities | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets				0
Sales, assets				0
Settlements, assets				0
Other Bond securities | Residential mortgage backed securities (RMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	218	0	527	162
Sales, assets	(6)	(3)	(16)	(22)
Settlements, assets	(43)	(36)	(122)	(107)
Purchases, Sales, Issues and Settlements, Net, assets	169	(39)	389	33
Other Bond securities | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0	0	0
Sales, assets	0	(9)	(79)	(15)
Settlements, assets	(8)	(11)	(83)	(136)
Purchases, Sales, Issues and Settlements, Net, assets	(8)	(20)	(162)	(151)
Other Bond securities | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	10	6	236	50
Sales, assets	(5)	(4)	(376)	(19)
Settlements, assets	(420)	(453)	(1,201)	(1,369)
Purchases, Sales, Issues and Settlements, Net, assets	(415)	(451)	(1,341)	(1,338)
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0	0	0
Sales, assets	0	0	(2)	0
Settlements, assets	0	0	(1)	0
Purchases, Sales, Issues and Settlements, Net, assets	0	0	(3)	0
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	193	276	497	709
Sales, assets	0	0	(587)	(1)
Settlements, assets	(129)	(211)	(432)	(609)
Purchases, Sales, Issues and Settlements, Net, assets	64	65	(522)	99
Mortgage and other loans receivable, net of allowance
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	5	0	5	6
Purchases, Sales, Issues and Settlements, Net, assets	$ 5	$ 0	$ 5	$ 6

FAIR VALUE MEASUREMENTS (Deta43

FAIR VALUE MEASUREMENTS (Details - Quantitative Information About Level 3 Fair Value Measurements - Assets) - Level 3 - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Corporate debt
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,506
Corporate debt | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		$ 1,145
Corporate debt | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.91%	3.46%
Corporate debt | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.80%	8.75%
Corporate debt | Discounted cash flow | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.85%	6.10%
Residential mortgage backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 17,609
Residential mortgage backed securities | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		$ 17,353
Residential mortgage backed securities | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.02%	2.67%
Constant prepayment rate	0.93%	0.59%
Loss severity	45.29%	46.04%
Constant default rate	3.47%	3.67%
Residential mortgage backed securities | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.96%	6.64%
Constant prepayment rate	8.91%	9.35%
Loss severity	77.96%	79.56%
Constant default rate	9.01%	9.96%
Residential mortgage backed securities | Discounted cash flow | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.49%	4.65%
Constant prepayment rate	4.92%	4.97%
Loss severity	61.63%	62.80%
Constant default rate	6.24%	6.82%
Certain CDO/ABS
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 3,217
Certain CDO/ABS | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		$ 5,282
Certain CDO/ABS | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.79%	4.70%
Certain CDO/ABS | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.33%	9.70%
Certain CDO/ABS | Discounted cash flow | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.56%	7.10%
Commercial mortgage backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 2,656
Commercial mortgage backed securities | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		$ 2,687
Commercial mortgage backed securities | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	0.00%	0.00%
Commercial mortgage backed securities | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	18.45%	17.29%
Commercial mortgage backed securities | Discounted cash flow | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	6.07%	6.06%
Obligations of states, municipalities and political subdivisions
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,199
Obligations of states, municipalities and political subdivisions | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		$ 1,178
Obligations of states, municipalities and political subdivisions | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.34%	3.90%
Obligations of states, municipalities and political subdivisions | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.16%	4.62%
Obligations of states, municipalities and political subdivisions | Discounted cash flow | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.75%	4.26%

FAIR VALUE MEASUREMENTS (Deta44

FAIR VALUE MEASUREMENTS (Details - Quantitative Information About Level 3 Fair Value Measurements - Liabilities) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014	Dec. 31, 2014USD ($)
GMWB | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 1,392		$ 890
GMWB | Discounted cash flow | Minimum | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity implied volatility	6.00%		6.00%
Base lapse rates	0.50%		1.00%
Dynamic lapse rates	0.07%		0.20%
Mortality rates	0.05%		0.10%
Utilization rates	1.00%		0.50%
GMWB | Discounted cash flow | Maximum | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity implied volatility	39.00%		39.00%
Base lapse rates	30.00%		40.00%
Dynamic lapse rates	45.00%		60.00%
Mortality rates	35.00%		35.00%
Utilization rates	65.00%		30.00%
Index Annuities | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 556		$ 294
Index Annuities | Discounted cash flow | Minimum | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Mortality rates	0.02%		0.02%
Lapse rates	0.75%		0.75%
Index Annuities | Discounted cash flow | Maximum | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Mortality rates	44.06%		44.06%
Lapse rates	66.00%		66.00%
Index Life | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 295		$ 259
Index Life | Discounted cash flow | Minimum | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity implied volatility	10.00%		10.00%
Base lapse rates	2.00%		2.00%
Mortality rates	0.00%		0.00%
Index Life | Discounted cash flow | Maximum | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity implied volatility	25.00%		25.00%
Base lapse rates	19.00%		19.00%
Mortality rates	20.00%		20.00%
Derivative Liabilities - Credit contracts | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value			$ 791
Derivative Liabilities - Credit contracts | BET | Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Diversity score		8
Derivative Liabilities - Credit contracts | BET | Minimum | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Recovery rates			5.00%
Weighted average life			2 years 8 months 1 day
Derivative Liabilities - Credit contracts | BET | Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Diversity score		25
Derivative Liabilities - Credit contracts | BET | Maximum | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Recovery rates			23.00%
Weighted average life			10 years 5 months 26 days
Derivative Liabilities - Credit contracts | BET | Weighted-average
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Diversity score		13
Derivative Liabilities - Credit contracts | BET | Weighted-average | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Recovery rates			13.00%
Weighted average life			4 years 7 months 24 days

FAIR VALUE MEASUREMENTS (Deta45

FAIR VALUE MEASUREMENTS (Details - Investments in Certain Entities Carried at Fair Value Using Net Asset Value Per Share) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 8,881	$ 8,359
Unfunded Commitments	998	986
Private equity funds:
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	2,833	3,160
Unfunded Commitments	$ 980	980
Average original expected lives	10 years
Second investment redemption notice period	2 years
Private equity funds: | Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives	2 years
Private equity funds: | Minimum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives	1 year
Private equity funds: | Expected remaining lives of 3 years or less
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	82.00%
Private equity funds: | Expected remaining lives of 3 years or less | Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
First threshold level of remaining lives	3 years
Private equity funds: | Expected remaining lives of less than 4 to 6 years
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	5.00%
Private equity funds: | Expected remaining lives of less than 4 to 6 years | Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Second threshold level of remaining lives	6 years
Private equity funds: | Expected remaining lives of less than 4 to 6 years | Minimum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Second threshold level of remaining lives	4 years
Private equity funds: | Expected remaining lives of less than 7 to 10 years
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	13.00%
Private equity funds: | Expected remaining lives of less than 7 to 10 years | Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Third threshold level of remaining lives	10 years
Private equity funds: | Expected remaining lives of less than 7 to 10 years | Minimum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Third threshold level of remaining lives	7 years
Leveraged buyout
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 1,941	2,275
Unfunded Commitments	423	450
Real Estate / Infrastructure
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	328	384
Unfunded Commitments	202	227
Venture capital
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	118	121
Unfunded Commitments	53	26
Distressed
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	158	164
Unfunded Commitments	42	43
Other..
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	288	216
Unfunded Commitments	260	234
Hedge funds:
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	6,048	5,199
Unfunded Commitments	$ 18	6
Hedge fund investments redeemable monthly (as a percent)	14.00%
Hedge fund investments redeemable quarterly (as a percent)	48.00%
Hedge fund investments redeemable semi-annually (as a percent)	14.00%
Hedge fund investments redeemable annually (as a percent)	24.00%
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	45.00%
Hedge funds: | Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investment redemption notice period (in days/years)	180 days
Hedge funds: | Minimum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investment redemption notice period (in days/years)	1 day
Event-driven
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 1,242	1,109
Unfunded Commitments	0	0
Long-short
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	2,998	2,428
Unfunded Commitments	8	1
Macro
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	552	498
Unfunded Commitments	0	0
Distressed.
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	736	731
Unfunded Commitments	10	5
Emerging markets
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	358	308
Unfunded Commitments	0	0
Other hedge funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	162	125
Unfunded Commitments	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Deta46

FAIR VALUE MEASUREMENTS (Details - Gains or losses recorded related to the eligible instruments) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	$ (365)	$ 346	$ 553	$ 1,585
Fair value option credit risk gains (losses)	(18)	8	(7)	(14)
Fair Value Option | Other long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	(144)	23	(89)	(186)
Fair Value Option | Other liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	0	(4)	(3)	(10)
Fair Value Option | Bond and equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	(106)	252	495	1,529
Fair Value Option | Alternative investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	(115)	73	148	245
Fair Value Option | Other, Including Short term investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	$ 0	$ 2	$ 2	$ 7

FAIR VALUE MEASUREMENTS (Deta47

FAIR VALUE MEASUREMENTS (Details - Difference between fair values and the aggregate contractual principal amounts of long-term debt) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	$ 11	$ 6
Long-term debt, Fair Value	3,985	5,466
Long-term debt, Outstanding Principal Amount	30,719	31,217
Fair Value Option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	11	6
Mortgage and other loans receivable, Outstanding Principal Amount	9	4
Mortgage and other loans receivable, Difference	2	2
Long-term debt, Fair Value	3,985	5,466
Long-term debt, Outstanding Principal Amount	2,883	4,101
Long-term debt, Difference	$ 1,102	$ 1,365

FAIR VALUE MEASUREMENTS (Deta48

FAIR VALUE MEASUREMENTS (Details - Assets measured at fair value on a non-recurring basis at the time of impairment and the related impairment charges) - Fair value on a non-recurring basis - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	$ 84	$ 115	$ 286	$ 258
Other Investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	22	62	74	117
Investments In Life Settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	58	52	200	139
Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	4	$ 1	12	$ 2
Level 1
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0		0		$ 0
Level 1 | Other Investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0		0		0
Level 1 | Investments In Life Settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0		0		0
Level 1 | Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0		0		0
Level 2
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0		0		0
Level 2 | Other Investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0		0		0
Level 2 | Investments In Life Settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0		0		0
Level 2 | Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0		0		0
Level 3
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	1,631		1,631		1,328
Level 3 | Other Investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	986		986		790
Level 3 | Investments In Life Settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	633		633		537
Level 3 | Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	12		12		1
Total Fair Value
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	1,631		1,631		1,328
Total Fair Value | Other Investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	986		986		790
Total Fair Value | Investments In Life Settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	633		633		537
Total Fair Value | Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	$ 12		$ 12		$ 1

FAIR VALUE MEASUREMENTS (Deta49

FAIR VALUE MEASUREMENTS (Details - financial instruments not measured at fair value and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Assets:
Mortgage and other loans receivable	$ 28,236	$ 24,990
Short-term investments	12,408	11,243
Cash	1,569	1,758	$ 1,933	$ 2,241
Liabilities:
Other liabilities	26,565	26,441
Long-term debt	30,719	31,217
Estimated Fair Value
Assets:
Mortgage and other loans receivable	29,336	26,606
Other invested assets	3,486	3,475
Short-term investments	9,675	9,559
Cash	1,569	1,758
Liabilities:
Policyholder contract deposits associated with investment-type contracts	115,940	119,512
Other liabilities	1,756	1,120
Long-term debt	27,735	27,681
Estimated Fair Value | Level 1
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	1,569	1,758
Liabilities:
Policyholder contract deposits associated with investment-type contracts	0	0
Other liabilities	0	0
Long-term debt	0	0
Estimated Fair Value | Level 2
Assets:
Mortgage and other loans receivable	202	449
Other invested assets	486	593
Short-term investments	9,675	9,559
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	268	244
Other liabilities	1,756	1,120
Long-term debt	22,993	24,749
Estimated Fair Value | Level 3
Assets:
Mortgage and other loans receivable	29,134	26,157
Other invested assets	3,000	2,882
Short-term investments	0	0
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	115,672	119,268
Other liabilities	0	0
Long-term debt	4,742	2,932
Carrying Value
Assets:
Mortgage and other loans receivable	28,225	24,984
Other invested assets	4,338	4,352
Short-term investments	9,675	9,559
Cash	1,569	1,758
Liabilities:
Policyholder contract deposits associated with investment-type contracts	107,422	106,395
Other liabilities	1,756	1,120
Long-term debt	$ 26,734	$ 25,751

INVESTMENTS (Details - Amortize

INVESTMENTS (Details - Amortized cost or cost and fair value of Available for sale securities) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	$ 243,791	$ 245,237
Available for sale securities, Gross Unrealized Gains	16,756	20,890
Available for sale securities, Gross Unrealized Losses	(3,801)	(1,873)
Available-for-sale Securities	256,746	264,254
AOCI- OTTI
Available-for-sale Securities Disclosures
Total, Other-Than-Temporary Impairments in AOCI	1,762	2,080
Bonds available for sale
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	241,985	243,307
Available for sale securities, Gross Unrealized Gains	14,716	18,371
Available for sale securities, Gross Unrealized Losses	(3,747)	(1,819)
Available-for-sale Securities	252,954	259,859
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	35,400	35,100
Bonds available for sale | AOCI- OTTI
Available-for-sale Securities Disclosures
Total, Other-Than-Temporary Impairments in AOCI	1,762	2,080
Bonds available for sale | U.S. government and government sponsored entities
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	1,705	2,806
Available for sale securities, Gross Unrealized Gains	179	204
Available for sale securities, Gross Unrealized Losses	(2)	(18)
Available-for-sale Securities	1,882	2,992
Bonds available for sale | U.S. government and government sponsored entities | AOCI- OTTI
Available-for-sale Securities Disclosures
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	26,305	25,979
Available for sale securities, Gross Unrealized Gains	1,361	1,729
Available for sale securities, Gross Unrealized Losses	(120)	(49)
Available-for-sale Securities	27,546	27,659
Bonds available for sale | Obligations of states, municipalities and political subdivisions | AOCI- OTTI
Available-for-sale Securities Disclosures
Total, Other-Than-Temporary Impairments in AOCI	16	(13)
Bonds available for sale | Non-U.S. government
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	17,940	20,280
Available for sale securities, Gross Unrealized Gains	818	966
Available for sale securities, Gross Unrealized Losses	(330)	(151)
Available-for-sale Securities	18,428	21,095
Bonds available for sale | Non-U.S. government | AOCI- OTTI
Available-for-sale Securities Disclosures
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale | Corporate debt
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	134,852	134,961
Available for sale securities, Gross Unrealized Gains	8,032	10,594
Available for sale securities, Gross Unrealized Losses	(2,762)	(1,122)
Available-for-sale Securities	140,122	144,433
Bonds available for sale | Corporate debt | AOCI- OTTI
Available-for-sale Securities Disclosures
Total, Other-Than-Temporary Impairments in AOCI	21	64
Bonds available for sale | Mortgage-backed, asset-backed and collateralized
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	61,183	59,281
Available for sale securities, Gross Unrealized Gains	4,326	4,878
Available for sale securities, Gross Unrealized Losses	(533)	(479)
Available-for-sale Securities	64,976	63,680
Bonds available for sale | Mortgage-backed, asset-backed and collateralized | AOCI- OTTI
Available-for-sale Securities Disclosures
Total, Other-Than-Temporary Impairments in AOCI	1,725	2,029
Bonds available for sale | Residential mortgage backed securities (RMBS)
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	32,891	34,377
Available for sale securities, Gross Unrealized Gains	3,046	3,435
Available for sale securities, Gross Unrealized Losses	(312)	(292)
Available-for-sale Securities	35,625	37,520
Bonds available for sale | Residential mortgage backed securities (RMBS) | AOCI- OTTI
Available-for-sale Securities Disclosures
Total, Other-Than-Temporary Impairments in AOCI	1,479	1,767
Bonds available for sale | Commercial mortgage-backed securities (CMBS)
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	13,014	12,129
Available for sale securities, Gross Unrealized Gains	775	815
Available for sale securities, Gross Unrealized Losses	(72)	(59)
Available-for-sale Securities	13,717	12,885
Bonds available for sale | Commercial mortgage-backed securities (CMBS) | AOCI- OTTI
Available-for-sale Securities Disclosures
Total, Other-Than-Temporary Impairments in AOCI	206	215
Bonds available for sale | Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	15,278	12,775
Available for sale securities, Gross Unrealized Gains	505	628
Available for sale securities, Gross Unrealized Losses	(149)	(128)
Available-for-sale Securities	15,634	13,275
Bonds available for sale | Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS) | AOCI- OTTI
Available-for-sale Securities Disclosures
Total, Other-Than-Temporary Impairments in AOCI	40	47
Equity securities available for sale
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	1,806	1,930
Available for sale securities, Gross Unrealized Gains	2,040	2,519
Available for sale securities, Gross Unrealized Losses	(54)	(54)
Available-for-sale Securities	3,792	4,395
Equity securities available for sale | Common Stock
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	986	1,185
Available for sale securities, Gross Unrealized Gains	1,993	2,461
Available for sale securities, Gross Unrealized Losses	(18)	(17)
Available-for-sale Securities	2,961	3,629
Equity securities available for sale | Preferred Stock
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	19	21
Available for sale securities, Gross Unrealized Gains	4	4
Available for sale securities, Gross Unrealized Losses	0	0
Available-for-sale Securities	23	25
Equity securities available for sale | Mutual Funds
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	801	724
Available for sale securities, Gross Unrealized Gains	43	54
Available for sale securities, Gross Unrealized Losses	(36)	(37)
Available-for-sale Securities	$ 808	$ 741

INVESTMENTS (Details - Summary

INVESTMENTS (Details - Summary of fair value and gross unrealized losses on available for sale securities aggregated by major investment category and length of time in a continuous unrealized loss position) $ in Millions	Sep. 30, 2015USD ($)security	Dec. 31, 2014USD ($)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 52,643	$ 23,825
Gross Unrealized Losses, Less than 12 Months	2,375	719
Fair Value, 12 Months or More	12,406	22,344
Gross Unrealized Losses, 12 Months or More	1,426	1,154
Fair Value, Total	65,049	46,169
Gross Unrealized Losses, Total	3,801	1,873
Bonds available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	52,250	23,457
Gross Unrealized Losses, Less than 12 Months	2,329	666
Fair Value, 12 Months or More	12,384	22,278
Gross Unrealized Losses, 12 Months or More	1,418	1,153
Fair Value, Total	64,634	45,735
Gross Unrealized Losses, Total	$ 3,747	1,819
Number of securities in an unrealized loss position | security	12,631
Number of individual securities in continuous unrealized loss position for longer than twelve months | security	1,966
Bonds available for sale | U.S. government and government sponsored entities
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 121	526
Gross Unrealized Losses, Less than 12 Months	2	5
Fair Value, 12 Months or More	1	281
Gross Unrealized Losses, 12 Months or More	0	13
Fair Value, Total	122	807
Gross Unrealized Losses, Total	2	18
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	3,190	495
Gross Unrealized Losses, Less than 12 Months	103	9
Fair Value, 12 Months or More	259	794
Gross Unrealized Losses, 12 Months or More	17	40
Fair Value, Total	3,449	1,289
Gross Unrealized Losses, Total	120	49
Bonds available for sale | Non-U.S. government
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	4,140	1,606
Gross Unrealized Losses, Less than 12 Months	194	42
Fair Value, 12 Months or More	725	1,690
Gross Unrealized Losses, 12 Months or More	136	109
Fair Value, Total	4,865	3,296
Gross Unrealized Losses, Total	330	151
Bonds available for sale | Corporate debt
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	32,818	12,132
Gross Unrealized Losses, Less than 12 Months	1,858	450
Fair Value, 12 Months or More	4,664	11,570
Gross Unrealized Losses, 12 Months or More	904	672
Fair Value, Total	37,482	23,702
Gross Unrealized Losses, Total	2,762	1,122
Bonds available for sale | Residential mortgage backed securities (RMBS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	5,056	4,621
Gross Unrealized Losses, Less than 12 Months	82	109
Fair Value, 12 Months or More	4,146	3,996
Gross Unrealized Losses, 12 Months or More	230	183
Fair Value, Total	9,202	8,617
Gross Unrealized Losses, Total	312	292
Bonds available for sale | Commercial mortgage-backed securities (CMBS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	2,239	220
Gross Unrealized Losses, Less than 12 Months	46	1
Fair Value, 12 Months or More	571	2,087
Gross Unrealized Losses, 12 Months or More	26	58
Fair Value, Total	2,810	2,307
Gross Unrealized Losses, Total	72	59
Bonds available for sale | Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	4,686	3,857
Gross Unrealized Losses, Less than 12 Months	44	50
Fair Value, 12 Months or More	2,018	1,860
Gross Unrealized Losses, 12 Months or More	105	78
Fair Value, Total	6,704	5,717
Gross Unrealized Losses, Total	149	128
Equity securities available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	393	368
Gross Unrealized Losses, Less than 12 Months	46	53
Fair Value, 12 Months or More	22	66
Gross Unrealized Losses, 12 Months or More	8	1
Fair Value, Total	415	434
Gross Unrealized Losses, Total	$ 54	54
Number of securities in an unrealized loss position | security	198
Equity securities available for sale | Common Stock
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 96	88
Gross Unrealized Losses, Less than 12 Months	18	16
Fair Value, 12 Months or More	6	2
Gross Unrealized Losses, 12 Months or More	0	1
Fair Value, Total	102	90
Gross Unrealized Losses, Total	18	17
Equity securities available for sale | Preferred Stock
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	0	0
Gross Unrealized Losses, Less than 12 Months	0	0
Fair Value, 12 Months or More	0	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	0	0
Gross Unrealized Losses, Total	0	0
Equity securities available for sale | Mutual Funds
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	297	280
Gross Unrealized Losses, Less than 12 Months	28	37
Fair Value, 12 Months or More	16	64
Gross Unrealized Losses, 12 Months or More	8	0
Fair Value, Total	313	344
Gross Unrealized Losses, Total	$ 36	$ 37

INVESTMENTS (Details - Amorti52

INVESTMENTS (Details - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Available-for-sale Securities Disclosures
Available for sale securities, Amortized Cost, Total	$ 243,791	$ 245,237
Fixed Maturity Securities Available for Sale, Fair Value, Total	252,954	259,859
Fixed Maturity Securities in a Loss Position AFS
Available-for-sale Securities Disclosures
Due in one year or less, Amortized Cost	945	637
Due after one year through five years, Amortized Cost	7,176	6,669
Due after five years through ten years, Amortized Cost	17,681	12,873
Due after ten years, Amortized Cost	23,330	10,255
Mortgage-backed, asset-backed and collateralized, Amortized Cost	19,249	17,120
Available for sale securities, Amortized Cost, Total	68,381	47,554
Due in one year or less, Fair Value	926	620
Due after one year through five years, Fair Value	6,915	6,529
Due after five years through ten years, Fair Value	16,601	12,338
Due after ten years, Fair Value	21,476	9,607
Mortgage-backed, asset-backed and collateralized, Fair Value	18,716	16,641
Fixed Maturity Securities Available for Sale, Fair Value, Total	64,634	45,735
Bonds available for sale
Available-for-sale Securities Disclosures
Due in one year or less, Amortized Cost	10,295	9,821
Due after one year through five years, Amortized Cost	46,854	48,352
Due after five years through ten years, Amortized Cost	55,985	62,685
Due after ten years, Amortized Cost	67,668	63,168
Mortgage-backed, asset-backed and collateralized, Amortized Cost	61,183	59,281
Available for sale securities, Amortized Cost, Total	241,985	243,307
Due in one year or less, Fair Value	10,412	9,975
Due after one year through five years, Fair Value	49,320	50,873
Due after five years through ten years, Fair Value	57,443	65,889
Due after ten years, Fair Value	70,803	69,442
Mortgage-backed, asset-backed and collateralized, Fair Value	64,976	63,680
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 252,954	$ 259,859

INVESTMENTS (Details - Realized

INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Available-for-sale Securities Disclosures
Gross Realized Gains	$ 120	$ 151	$ 983	$ 630
Aggregate fair value of available for sale securities sold	6,900	4,200	20,900	16,200
Net realized capital gains (losses)	0	100	700	500
Gross Realized Losses	120	25	305	75
Fixed maturity securities
Available-for-sale Securities Disclosures
Gross Realized Gains	96	118	439	528
Gross Realized Losses	112	21	289	65
Equity securities available for sale
Available-for-sale Securities Disclosures
Gross Realized Gains	24	33	544	102
Gross Realized Losses	$ 8	$ 4	$ 16	$ 10

INVESTMENTS (Details - Value of

INVESTMENTS (Details - Value of other securities measured at fair value based on election of the fair value option) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 17,888	$ 20,761
Other Securities, Percent of Total	100.00%	100.00%
U.S. Government agency backed ABS
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 748	$ 859
Fixed maturity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 16,822	$ 19,712
Other Securities, Percent of Total	94.00%	95.00%
Fixed maturity securities | U.S. government and government sponsored entities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 3,813	$ 5,498
Other Securities, Percent of Total	21.00%	27.00%
Fixed maturity securities | Obligations of states, municipalities and political subdivisions
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 75	$ 122
Other Securities, Percent of Total	0.00%	1.00%
Fixed maturity securities | Non-U.S. government
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 2	$ 2
Other Securities, Percent of Total	0.00%	0.00%
Fixed maturity securities | Corporate debt
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,249	$ 719
Other Securities, Percent of Total	7.00%	3.00%
Fixed maturity securities | Mortgage-backed, asset-backed and collateralized
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 11,683	$ 13,371
Other Securities, Percent of Total	66.00%	64.00%
Fixed maturity securities | Residential mortgage backed securities (RMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 2,285	$ 2,094
Other Securities, Percent of Total	13.00%	10.00%
Fixed maturity securities | Commercial mortgage-backed securities (CMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 819	$ 1,077
Other Securities, Percent of Total	5.00%	5.00%
Fixed maturity securities | Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 8,579	$ 10,200
Other Securities, Percent of Total	48.00%	49.00%
Fixed maturity securities | Other
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 0	$ 0
Equity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,066	$ 1,049
Other Securities, Percent of Total	6.00%	5.00%

INVESTMENTS (Details - Componen

INVESTMENTS (Details - Components of Net investment income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Pledged Investments
Total investment income	$ 3,339	$ 4,161	$ 11,272	$ 12,506
Investment expenses	133	133	402	398
Net investment income	3,206	4,028	10,870	12,108
Fixed maturity securities, including short-term investments
Pledged Investments
Total investment income	2,794	3,022	8,477	9,264
Equity securities
Pledged Investments
Total investment income	(5)	135	76	67
Interest on mortgage and other loans
Pledged Investments
Total investment income	360	318	1,046	947
Alternative investments
Pledged Investments
Total investment income	88	636	1,471	2,108
Real estate
Pledged Investments
Total investment income	66	25	116	86
Other investments
Pledged Investments
Total investment income	$ 36	$ 25	$ 86	$ 34

INVESTMENTS (Details - Compon56

INVESTMENTS (Details - Components of Net realized capital gains (losses)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other-than-temporary impairments:
Severity	$ (10)	$ 0	$ (12)	$ 0
Change in intent	(81)	(14)	(193)	(20)
Foreign currency declines	(5)	(3)	(37)	(13)
Issuer-specific credit events	(176)	(31)	(314)	(124)
Adverse projected cash flows	(1)	(2)	(9)	(7)
Provision for loan losses	32	(11)	43	9
Foreign exchange transactions	(16)	350	304	329
Derivative instruments	13	102	509	(114)
Impairments on investments in life settlements	(58)	(52)	(200)	(139)
Other	(40)	71	356	70
Total net realized capital gains (losses)	(342)	536	1,125	546
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Sale of fixed maturity securities	(16)	97	150	463
Equity securities
Gain (Loss) on Investments [Line Items]
Sale of fixed maturity securities	$ 16	$ 29	$ 528	$ 92

INVESTMENTS (Details - Increase

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (1,649)	$ (1,118)	$ (6,687)	$ 6,598
Fixed maturity securities
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	(1,180)	(1,515)	(5,583)	6,123
Equity securities
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	(384)	303	(479)	348
Other investments
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (85)	$ 94	$ (625)	$ 127

INVESTMENTS (Details - Rollforw

INVESTMENTS (Details - Rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings) - Fixed maturity securities - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 2,238	$ 3,166	$ 2,659	$ 3,872
Increases due to:
Credit impairments on new securities subject to impairment losses	51	13	101	35
Additional credit impairments on previously impaired securities	37	5	84	59
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(63)	(116)	(213)	(528)
Credit impaired securities for which there is a current intent or anticipated requirement to sell	1		1
Accretion on securities previously impaired due to credit	(197)	(183)	(565)	(544)
Other	0	0	0	(9)
Balance, end of year	$ 2,065	$ 2,885	$ 2,065	$ 2,885

INVESTMENTS (Details - Purchase

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Available-for-sale Securities Disclosures
Amortized cost	$ 241,985		$ 241,985		$ 243,307
Fair value	256,746		256,746		264,254
Purchased Credit Impaired (PCI) Securities
Available-for-sale Securities Disclosures
Contractually required payments (principal and interest)	32,656		32,656
Cash flows expected to be collected	26,444		26,444
Recorded investment in acquired securities	17,662		17,662
Outstanding principal balance	17,017		17,017		16,962
Amortized cost	12,408		12,408		12,216
Fair value	13,426		13,426		$ 13,462
Available for sale securities | Purchased Credit Impaired (PCI) Securities
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of year	6,833	$ 7,042	6,865	$ 6,940
Newly purchased PCI securities	136	358	551	1,127
Disposals	0	0	(13)	0
Accretion	(220)	(223)	(661)	(654)
Effect of changes in interest rate indices	4	(96)	(140)	(327)
Net reclassification from non-accretable difference, including effects of prepayments	180	30	331	25
Balance, end of year	$ 6,933	$ 7,111	$ 6,933	$ 7,111

INVESTMENTS (Details - Pledged

INVESTMENTS (Details - Pledged Investments) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Pledged Investments
Fair Value of securities pledged	$ 2,969	$ 2,506
Fair value of amount repledged	126	131
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	5,500	5,900
Short-term investments held in escrow	391
FHLBs
Pledged Investments
Fair value of available for sale securities	1,200	500
Amount owned by subsidiaries	48	44
Secured financing
Pledged Investments
Fair value of available for sale securities	996	0
Fair Value of other securities	994	2,122
Securities Sold under Agreements to Repurchase and Securities Loaned	1,900
Secured financing | U.S. Government Bond Securities
Pledged Investments
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	155
Secured financing | U.S. Government Bond Securities | Up to 30 Days
Pledged Investments
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	15
Secured financing | Non-U.S. government | 31 to 90 Days
Pledged Investments
Securities Lending Agreements, Fair Value of Collateral	125
Secured financing | Corporate debt | 31 to 90 Days
Pledged Investments
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	73
Securities Lending Agreements, Fair Value of Collateral	856
Secured financing | Corporate debt | 91 to 364 Days
Pledged Investments
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	690
Secured financing | Corporate debt | 365 Days or Greater
Pledged Investments
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	76
GIAs
Pledged Investments
Fair Value of other securities	$ 2,600	$ 3,500

LENDING ACTIVITIES (Details - C

LENDING ACTIVITIES (Details - Composition of Mortgage and other loans receivable) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 28,442	$ 25,261
Allowance for losses	(206)	(271)	$ (284)	$ (312)
Mortgage and other loans receivable, net	28,236	24,990
Commercial mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	20,818	18,909
Allowance for losses	$ (162)	$ (159)	$ (175)	$ (201)
Commercial mortgages | California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	12.00%	14.00%
Commercial mortgages | New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	21.00%	18.00%
Life insurance policy loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 2,625	$ 2,710
Commercial loans, other loans and notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 4,999	$ 3,642

LENDING ACTIVITIES (Details -62

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgages) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)loan	Dec. 31, 2014USD ($)loan	Sep. 30, 2014USD ($)	Dec. 31, 2013USD ($)
Commercial Mortgage Recorded Investment [Line Items]
Mortgage and other loans receivable, net	$ 28,236	$ 24,990
Allowance for losses	206	271	$ 284	$ 312
Apartments
Commercial Mortgage Recorded Investment [Line Items]
In good standing	3,628	3,384
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	3,628	3,384
Allowance for losses	29	3
Offices
Commercial Mortgage Recorded Investment [Line Items]
In good standing	7,375	6,100
Restructured	150	343
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	177	75
Mortgage and other loans receivable, net	7,702	6,518
Allowance for losses	62	86
Retail
Commercial Mortgage Recorded Investment [Line Items]
In good standing	4,435	3,807
Restructured	25	7
90 days or less delinquent	0	10
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	4,460	3,824
Allowance for losses	35	28
Industrial
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,980	1,689
Restructured	18	0
90 days or less delinquent	6	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	2,004	1,689
Allowance for losses	14	22
Hotel
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,972	1,660
Restructured	16	17
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	1,988	1,677
Allowance for losses	13	6
Others
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,030	1,812
Restructured	6	0
90 days or less delinquent	0	5
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	1,036	1,817
Allowance for losses	$ 9	$ 14
Commercial mortgages
Commercial Mortgage Recorded Investment [Line Items]
Number of loans in good standing | loan	956	1,007
Number of loans restructured | loan	9	7
Number of loans 90 days or less delinquent | loan	5	6
Number of loans greater than 90 days delinquent or in process of foreclosure | loan	5	4
Number of Loans | loan	975	1,024
In good standing	$ 20,420	$ 18,452
Restructured	215	367
90 days or less delinquent	6	15
Greater than 90 days delinquent or in process of foreclosure	177	75
Mortgage and other loans receivable, net	20,818	18,909
Allowance for losses	$ 162	$ 159
Percentage of loans that are current as to payments of principal and interest	98.00%	98.00%
Percentage restructured	1.00%	2.00%
Percentage Total	100.00%	100.00%
Percentage of loans with allowance for losses	1.00%	1.00%
Percentage of current commercial mortgages held	99.00%
Percentage greater than 90 days delinquent or in foreclosure	1.00%

LENDING ACTIVITIES (Details - A

LENDING ACTIVITIES (Details - Allowance for Loan Losses) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 271	$ 312
Loans charged off	(29)	(23)
Recoveries of loans previously charged off	5	16
Net charge-offs	(24)	(7)
Provision for loan losses	(44)	(22)
Other	3	1
Activity of discontinued operations	0	0
Allowance, end of period	206	284
Loans modified in a troubled debt restructuring	42	83
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	159	201
Loans charged off	(23)	(10)
Recoveries of loans previously charged off	4	0
Net charge-offs	(19)	(10)
Provision for loan losses	22	(16)
Other	0	0
Activity of discontinued operations	0	0
Allowance, end of period	162	175
Allowance related to individually assessed credit losses	24	86
Commercial mortgage loans	512	246
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	112	111
Loans charged off	(6)	(13)
Recoveries of loans previously charged off	1	16
Net charge-offs	(5)	3
Provision for loan losses	(66)	(6)
Other	3	1
Activity of discontinued operations	0	0
Allowance, end of period	$ 44	$ 109

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets:
Bonds available for sale	$ 256,746	$ 264,254
Other bond securities	16,822	19,712
Mortgage and other loans receivable	28,236	24,990
Other invested assets	31,123	34,518
Liabilities:
Long-term debt	30,719	31,217
Real estate and investment funds
Liabilities:
Off-balance sheet exposure	127.2	56.4
Consolidated VIE
Assets:
Bonds available for sale	10,939	11,494
Other bond securities	6,798	7,906
Mortgage and other loans receivable	2,244	2,560
Other invested assets	3,796	2,941
Other assets	1,279	1,752
Total assets	25,056	26,653
Liabilities:
Long-term debt	2,766	1,697
Other liabilities	557	446
Total liabilities	3,323	2,143
Consolidated VIE | Real estate and investment funds
Assets:
Mortgage and other loans receivable	1
Other invested assets	546	577
Other assets	54	40
Total assets	601	617
Liabilities:
Long-term debt	23	69
Other liabilities	51	32
Total liabilities	74	101
Consolidated VIE | Securitization vehicles
Assets:
Bonds available for sale	10,915	11,459
Other bond securities	6,310	7,251
Mortgage and other loans receivable	2,104	2,398
Other invested assets	583	651
Other assets	814	1,447
Total assets	20,726	23,206
Liabilities:
Long-term debt	1,145	1,370
Other liabilities	249	276
Total liabilities	1,394	1,646
Investment-grade debt securities, loans and other assets	0	0
Consolidated VIE | Structured investment vehicle
Assets:
Other bond securities	451	615
Other assets	73	140
Total assets	524	755
Liabilities:
Long-term debt	54	52
Other liabilities	0
Total liabilities	54	52
Consolidated VIE | Affordable housing partnerships
Assets:
Other invested assets	2,644	1,684
Other assets	247	49
Total assets	2,891	1,733
Liabilities:
Long-term debt	1,538	199
Other liabilities	186	101
Total liabilities	1,724	300
Consolidated VIE | Other
Assets:
Bonds available for sale	24	35
Other bond securities	37	40
Mortgage and other loans receivable	139	162
Other invested assets	23	29
Other assets	91	76
Total assets	314	342
Liabilities:
Long-term debt	6	7
Other liabilities	71	37
Total liabilities	77	44
Unconsolidated VIE
Assets:
Other invested assets	4,100	3,200
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	28,216	29,819
Maximum Exposure to Loss, On-Balance Sheet	4,425	3,514
Maximum Exposure to Loss, Off-Balance Sheet	1,385	1,446
Total maximum exposure to loss	5,810	4,960
Unconsolidated VIE | Real estate and investment funds
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	21,844	19,949
Maximum Exposure to Loss, On-Balance Sheet	3,179	2,785
Maximum Exposure to Loss, Off-Balance Sheet	393	454
Total maximum exposure to loss	3,572	3,239
Unconsolidated VIE | Affordable housing partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	5,262	7,911
Maximum Exposure to Loss, On-Balance Sheet	1,004	425
Total maximum exposure to loss	1,004	425
Unconsolidated VIE | Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	1,110	1,959
Maximum Exposure to Loss, On-Balance Sheet	242	304
Maximum Exposure to Loss, Off-Balance Sheet	992	992
Total maximum exposure to loss	$ 1,234	1,296
Unconsolidated VIE | Other | Scenario Previously Reported Member
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Maximum Exposure to Loss, On-Balance Sheet		32
Maximum Exposure to Loss, Off-Balance Sheet		$ 0

DERIVATIVES AND HEDGE ACCOUNT65

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of derivative instruments) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	$ 118,311	$ 123,250
Gross Derivative Assets, Fair Value	5,124	4,825
Gross Derivative Liabilities, Notional Amount	112,121	103,914
Gross Derivative Liabilities, Fair Value	7,066	7,381
Derivative assets, Counterparty netting, Fair Value	(1,691)	(2,102)
Derivative assets, Cash collateral, Fair Value	(2,129)	(1,119)
Total derivative assets, net	1,304	1,604
Derivative liabilities, Counterparty netting, Fair Value	(1,691)	(2,102)
Derivative liabilities, Cash collateral, Fair Value	(910)	(1,429)
Total derivative liabilities, net	4,465	3,850
Less: Bifurcated embedded derivatives assets, fair value	0	0
Less: Bifurcated embedded derivative liabilities, fair value	2,300	1,577
Derivative assets, at fair value	1,304	1,604
Derivative liabilities, at fair value	2,165	2,273
Bifurcated embedded derivatives
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0
Gross Derivative Assets, Fair Value	0
Gross Derivative Liabilities, Notional Amount	42,700	39,300
Gross Derivative Liabilities, Fair Value	2,300	1,500
Derivatives designated as hedging instruments | Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	915	155
Gross Derivative Assets, Fair Value	5	0
Gross Derivative Liabilities, Notional Amount	25	25
Gross Derivative Liabilities, Fair Value	2	2
Derivatives designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	2,380	611
Gross Derivative Assets, Fair Value	196	25
Gross Derivative Liabilities, Notional Amount	1,401	1,794
Gross Derivative Liabilities, Fair Value	68	239
Derivatives designated as hedging instruments | Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	15	7
Gross Derivative Assets, Fair Value	2	1
Gross Derivative Liabilities, Notional Amount	113	104
Gross Derivative Liabilities, Fair Value	5	13
Derivatives not designated as hedging instruments | Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	60,521	65,070
Gross Derivative Assets, Fair Value	4,078	3,743
Gross Derivative Liabilities, Notional Amount	51,865	45,251
Gross Derivative Liabilities, Fair Value	2,893	3,183
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	11,904	13,667
Gross Derivative Assets, Fair Value	640	815
Gross Derivative Liabilities, Notional Amount	9,111	8,516
Gross Derivative Liabilities, Fair Value	1,147	1,251
Derivatives not designated as hedging instruments | Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	6,598	7,565
Gross Derivative Assets, Fair Value	173	206
Gross Derivative Liabilities, Notional Amount	48,033	42,387
Gross Derivative Liabilities, Fair Value	2,341	1,615
Derivatives not designated as hedging instruments | Commodity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0	15
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	0	11
Gross Derivative Liabilities, Fair Value	0	6
Derivatives not designated as hedging instruments | Credit contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	4	5
Gross Derivative Assets, Fair Value	3	4
Gross Derivative Liabilities, Notional Amount	1,323	5,288
Gross Derivative Liabilities, Fair Value	531	982
Derivatives not designated as hedging instruments | Other contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	35,974	36,155
Gross Derivative Assets, Fair Value	27	31
Gross Derivative Liabilities, Notional Amount	250	538
Gross Derivative Liabilities, Fair Value	$ 79	90
Derivatives not designated as hedging instruments | Bifurcated embedded derivatives
Derivative [Line Items]
Gross Derivative Assets, Notional Amount		0
Gross Derivative Assets, Fair Value		$ 0

DERIVATIVES AND HEDGE ACCOUNT66

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Derivative Liabilities, Notional Amount	$ 112,121	$ 103,914
Derivative Liabilities, Fair Value	7,066	7,381
Collateral
Collateral posted to third parties for derivative transactions	3,100	3,300
Collateral obtained from third parties for derivative transactions	2,200	1,300
Global Capital Markets (GCM) derivatives | Super Senior CDS
Derivative [Line Items]
Derivative Liabilities, Notional Amount	1,100	2,600
Derivative Liabilities, Fair Value	504	947
Global Capital Markets (GCM) derivatives | Corporate debt/CLOs
Derivative [Line Items]
Derivative Liabilities, Notional Amount		2,500
Derivative Liabilities, Fair Value	$ 0	$ 7

DERIVATIVES AND HEDGE ACCOUNT67

DERIVATIVES AND HEDGE ACCOUNTING (Details - Hedge Accounting) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	$ 14	$ 104	$ 87	$ 107
Derivatives designated as hedging instruments | Interest rate contracts | Fair value hedging | Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	1	0	1	1
Gain (loss) recognized in earnings on hedged items	(1)	0	(1)	(2)
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	0	0	0	(1)
Derivatives designated as hedging instruments | Interest rate contracts | Fair value hedging | Other income (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	0
Gain (loss) recognized in earnings on hedged items	2	10	7	38
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	2	10	7	38
Derivatives designated as hedging instruments | Interest rate contracts | Fair value hedging | Loss on extinguishment of debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	0
Gain (loss) recognized in earnings on hedged items	1	0	14	50
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	1	0	14	50
Derivatives designated as hedging instruments | Interest rate contracts | Fair value hedging | Interest credited to policyholder account balances
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	1
Gain (loss) recognized in earnings on hedged items	0	0	0	(1)
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	0	0	0	0
Derivatives designated as hedging instruments | Foreign exchange contracts | Fair value hedging | Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	81	(76)	152	(20)
Gain (loss) recognized in earnings on hedged items	(67)	91	(123)	32
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	14	9	27	(3)
Gain Loss On Fair Value Hedges Recognized In Earnings Other	0	6	2	15
Derivatives designated as hedging instruments | Foreign exchange contracts | Fair value hedging | Other income (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	0
Gain (loss) recognized in earnings on hedged items	4	7	14	7
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	4	7	14	7
Derivatives designated as hedging instruments | Foreign exchange contracts | Fair value hedging | Loss on extinguishment of debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	0
Gain (loss) recognized in earnings on hedged items	0	0	17	0
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	0	0	17	0
Derivatives designated as hedging instruments | Foreign exchange contracts | Fair value hedging | Interest credited to policyholder account balances
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	0
Gain (loss) recognized in earnings on hedged items	0	(1)	(1)	(2)
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	0	(1)	(1)	(2)
Derivatives designated as hedging instruments | Equity contracts | Fair value hedging | Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(4)	4	(23)	(10)
Gain (loss) recognized in earnings on hedged items	3	(6)	21	8
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	(1)	(2)	(2)	(2)
Gain Loss On Fair Value Hedges Recognized In Earnings Other	0	0	0	0
Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	16	433	914	412
Derivatives not designated as hedging instruments | Policy fees
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	20	19	59	49
Derivatives not designated as hedging instruments | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	6	24	20	20
Derivatives not designated as hedging instruments | Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	20	79	496	(114)
Derivatives not designated as hedging instruments | Other income (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(36)	309	334	447
Derivatives not designated as hedging instruments | Policyholder benefits and claims incurred
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	6	2	5	10
Derivatives not designated as hedging instruments | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	469	222	402	409
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	51	253	321	276
Derivatives not designated as hedging instruments | Equity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(586)	(159)	(39)	(584)
Embedded derivative gains (losses)	(816)	(86)	(147)	(428)
Derivatives not designated as hedging instruments | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	(2)	(1)	(1)
Derivatives not designated as hedging instruments | Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	11	75	171	229
Derivatives not designated as hedging instruments | Other contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	$ 71	$ 44	$ 60	$ 83

DERIVATIVES AND HEDGE ACCOUNT68

DERIVATIVES AND HEDGE ACCOUNTING (Details - Global Capital Market Derivatives) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Credit Derivatives [Line Items]
Fair value of hybrid securities	$ 5,700	$ 6,100
Par value of hybrid securities	11,500	12,300
Credit Risk-Related Contingent Features
Credit Derivatives [Line Items]
Collateral posted	2,300	2,700
Aggregate fair value of net liability position	2,200	$ 2,500
Additional collateral requirements, one-notch downgrade	46
Addtional collateral postings and termination payments	12
Further additional collateral requirements, one-notch downgrade	$ 118
Global Capital Markets (GCM) derivatives | Super Senior CDS | Arbitrage | Multi-sector CDOs
Credit Derivatives [Line Items]
Derivative weighted average maturity	6 years

CONTINGENCIES, COMMITMENTS AN69

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) $ in Millions

Sep. 10, 2015complaint

Jun. 15, 2015USD ($)

Mar. 27, 2015complaint

Jan. 06, 2015USD ($)

Oct. 22, 2014USD ($)

Nov. 15, 2013individual

Mar. 11, 2013class

Nov. 29, 2012USD ($)item

Nov. 21, 2011

Dec. 17, 2010USD ($)

Feb. 25, 2010individual

Sep. 30, 2015USD ($)complaintmultiple

Jan. 31, 2009complaint

Feb. 09, 2015complaint

Chartis U.S.

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Settlement agreement, number of jurisdictions | item

50

Civil penalty paid

$ 50

AIG | Regulatory fines and penalties

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Litigation Settlement, Amount

$ 100

AIG | Outstanding premium taxes and assessments

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Litigation Settlement, Amount

46.5

AIG | Contingent fines

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Litigation Settlement, Amount

$ 150

Consolidated 2008 Securities Litigation

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Number of purported class action complaints | complaint

8

Payments for Legal Settlements

$ 960

ERISA Litigation II | AIGs fiduciary liability insurance carriers

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Litigation Settlement, Amount

$ 40

ERISA Litigation II | AIG

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Settlement amount awarded

$ 40

Canadian Securities Class Action claim

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Damages claimed

$ 500

Punitive damages claimed

$ 50

Starr International Litigation

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Damages claimed

$ 40

Percentage of ownership in AIG received by Department of the Treasury

80.00%

Number of shareholders who have submitted timely and valid requests to opt in of the class | individual

286,908

Number of purported classes | class

2

False Claims Act complaint

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Number of individuals (Relators) seeking to assert claims | individual

2

Damages sought, multiple of damages sustained | multiple

3

Caremark

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Number of purported class action complaints | complaint

2

Damages claimed

$ 3,200

Individual Securities Litigations [Member]

LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS

Number of purported class action complaints | complaint

9

1

11

Number of Claims Dismissed | complaint

2

Number of claims settled | complaint

7

Number of Claims Pending | complaint

2

CONTINGENCIES, COMMITMENTS AN70

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Long term purchase commitments) $ in Billions	Sep. 30, 2015USD ($)
Other Commitments
Other Commitments	$ 2.6

CONTINGENCIES, COMMITMENTS AN71

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) $ in Millions	Sep. 30, 2015USD ($)
Other Operations | AIG Financial Products
Guarantor Obligations [Line Items]
Amount outstanding under standby letters of credit at end of period	$ 214

EQUITY (Details - Shares Outsta

EQUITY (Details - Shares Outstanding) - USD ($)	Sep. 28, 2015	Jun. 25, 2015	Mar. 26, 2015	Sep. 30, 2015	Aug. 03, 2015
The following table presents a roll forward of outstanding shares:
Treasury Shares, beginning of year				(530,744,521)
Shares, beginning of year				1,906,671,492
Shares, beginning of year				1,375,926,971
Shares issued - Issuance (in shares)				355,767
Shares repurchased				(129,488,123)
Treasury Shares, end of period				(659,876,877)
Shares, end of period				1,906,671,492
Shares, end of period				1,246,794,615
Dividend paid (in dollars per share)	$ 0.28	$ 0.125	$ 0.125
ASR
The following table presents a roll forward of outstanding shares:
Number of shares received from financial institution				0
Amount paid to financial institution				$ 0
AIG
The following table presents a roll forward of outstanding shares:
Shares repurchased				129,000,000
Aggregate purchase price of repurchased shares				$ 7,500,000,000
AIG | ASR
The following table presents a roll forward of outstanding shares:
Percentage of share repurchased during share repurchase agreement				0.00%
Common Stock Issued
The following table presents a roll forward of outstanding shares:
Shares, beginning of year				1,906,671,492
Shares issued - Issuance (in shares)				0
Shares repurchased				0
Shares, end of period				1,906,671,492
Aggregate repurchase authorization purchase amount					$ 5,000,000,000
Common stock authorized to be repurchased remaining amount				$ 3,500,000,000
Common Stock Issued | ASR
The following table presents a roll forward of outstanding shares:
Partial receipt of shares under an ASR agreement				0
Common Stock Issued | AIG | ASR
The following table presents a roll forward of outstanding shares:
Additional shares received from financial institution				3,500,000
Treasury Stock
The following table presents a roll forward of outstanding shares:
Treasury Shares, beginning of year				(530,744,521)
Shares issued - Issuance (in shares)				355,767
Shares repurchased				(129,488,123)
Treasury Shares, end of period				(659,876,877)

EQUITY (Details - Rollforward o

EQUITY (Details - Rollforward of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			$ 10,617
Less: Income tax expense (benefit)	$ 383	$ 412	1,655	$ (216)
Other comprehensive income (loss)	(1,064)	(181)	(4,064)	4,970
Other comprehensive income (loss)			(169)	174
Other comprehensive income (loss)	(238)	(78)	(734)	(189)
Other comprehensive income (loss)	92	6	148	13
Balance, end of period, net of tax	6,557		6,557
Accumulated Other Comprehensive Income (Loss)
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			10,617	6,360
Change in unrealized appreciation (depreciation) of investments			(6,687)	6,598
Change in deferred acquisition costs adjustment and other			763	(372)
Change in future policy benefits			899	(895)
Changes in foreign currency translation adjustments			(901)	(149)
Net actuarial gain (loss)			417	40
Prior service (cost) credit			(210)	(36)
Less: Income tax expense (benefit)			1,655	(216)
Other comprehensive income (loss)			(4,064)	4,970
Noncontrolling interests			(4)	(1)
Balance, end of period, net of tax	6,557	11,331	6,557	11,331
Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than-Temporary Credit Impairments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			1,043	936
Change in unrealized appreciation (depreciation) of investments			(315)	268
Change in deferred acquisition costs adjustment and other			0	61
Change in future policy benefits			92	(114)
Less: Income tax expense (benefit)	50	(64)	54	(41)
Deferred tax asset (liability)			54	(41)
Other comprehensive income (loss)	(61)	59	(169)	174
Other comprehensive income (loss)			(169)	174
Balance, end of period, net of tax	874	1,110	874	1,110
Unrealized Appreciation (Depreciation) of All Other Investments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			12,327	6,789
Change in unrealized appreciation (depreciation) of investments			(6,372)	6,330
Change in deferred acquisition costs adjustment and other			763	(433)
Change in future policy benefits			807	(781)
Less: Income tax expense (benefit)	401	419	1,493	(144)
Deferred tax asset (liability)			1,493	(144)
Other comprehensive income (loss)	(857)	(168)	(3,309)	4,972
Other comprehensive income (loss)			(3,309)	4,972
Noncontrolling interests			0	(1)
Balance, end of period, net of tax	9,018	11,762	9,018	11,762
Foreign Currency Translation Adjustments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			(1,784)	(952)
Changes in foreign currency translation adjustments			(901)	(149)
Less: Income tax expense (benefit)	(21)	42	167	(40)
Deferred tax asset (liability)			167	(40)
Other comprehensive income (loss)	(238)	(78)	(734)	(189)
Other comprehensive income (loss)			(734)	(189)
Noncontrolling interests			(4)	0
Balance, end of period, net of tax	(2,514)	(1,141)	(2,514)	(1,141)
Retirement Plan Liabilities Adjustment
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			(969)	(413)
Net actuarial gain (loss)			417	40
Prior service (cost) credit			(210)	(36)
Less: Income tax expense (benefit)	(47)	15	(59)	9
Deferred tax asset (liability)			(59)	9
Other comprehensive income (loss)	92	6	148	13
Other comprehensive income (loss)			148	13
Balance, end of period, net of tax	$ (821)	$ (400)	$ (821)	$ (400)

EQUITY (Details - Other compreh

EQUITY (Details - Other comprehensive income reclassification adjustments) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	$ (1,287)	$ (571)	$ (4,975)	$ 5,618
Less: Reclassification adjustments included in net income	160	22	744	432
Total other comprehensive income (loss), before income tax expense (benefit)	(1,447)	(593)	(5,719)	5,186
Less: Income tax expense (benefit)	(383)	(412)	(1,655)	216
Other comprehensive income (loss)	(1,064)	(181)	(4,064)	4,970
Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than-Temporary Credit Impairments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(98)	132	(155)	242
Less: Reclassification adjustments included in net income	13	9	68	27
Total other comprehensive income (loss), before income tax expense (benefit)	(111)	123	(223)	215
Less: Income tax expense (benefit)	(50)	64	(54)	41
Other comprehensive income (loss)	(61)	59	(169)	174
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(1,275)	(575)	(4,243)	5,522
Less: Reclassification adjustments included in net income	(17)	12	559	406
Total other comprehensive income (loss), before income tax expense (benefit)	(1,258)	(587)	(4,802)	5,116
Less: Income tax expense (benefit)	(401)	(419)	(1,493)	144
Other comprehensive income (loss)	(857)	(168)	(3,309)	4,972
Foreign Currency Translation Adjustments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(217)	(120)	(901)	(149)
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	(217)	(120)	(901)	(149)
Less: Income tax expense (benefit)	21	(42)	(167)	40
Other comprehensive income (loss)	(238)	(78)	(734)	(189)
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	303	(8)	324	3
Less: Reclassification adjustments included in net income	164	1	117	(1)
Total other comprehensive income (loss), before income tax expense (benefit)	139	(9)	207	4
Less: Income tax expense (benefit)	47	(15)	59	(9)
Other comprehensive income (loss)	$ 92	$ 6	$ 148	$ 13

EQUITY (Details - Reclassificat

EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains (losses)	$ 100	$ (571)	$ (1,616)	$ (683)
Amortization of deferred policy acquisition costs	1,275	1,288	3,981	3,989
Policyholder benefits and losses incurred	6,936	7,203	20,587	20,771
Total reclassification for the period	(115)	3,019	6,213	9,772
Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassification for the period	160	22	744	432
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains (losses)	13	9	68	27
Total reclassification for the period	13	9	68	27
Unrealized appreciation (depreciation) of all other investments | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains (losses)	(15)	117	609	528
Amortization of deferred policy acquisition costs	(2)	(40)	(67)	(35)
Policyholder benefits and losses incurred	0	(65)	17	(87)
Total reclassification for the period	(17)	12	559	406
Change in retirement plan liabilities adjustment | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Before of Tax	164	1	117	(1)
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Before of Tax	187	11	210	35
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Before of Tax	$ (23)	$ (10)	$ (93)	$ (36)

EARNINGS PER SHARE (EPS) (Detai

EARNINGS PER SHARE (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator for EPS:
Income (loss) from continuing operations	$ (180)	$ 2,199	$ 4,071	$ 6,864
Less: Net income from continuing operations attributable to noncontrolling interests	34	9	34	(25)
Income (loss) attributable to AIG common shareholders from continuing operations	(214)	2,190	4,037	6,889
Income (loss) from discontinued operations, net of income tax expense	(17)	2	0	(15)
Net income (loss) attributable to AIG common shareholders	$ (231)	$ 2,192	$ 4,037	$ 6,874
Denominator for EPS:
Weighted average shares outstanding - basic	1,279,072,748	1,419,239,774	1,324,407,969	1,440,148,774
Dilutive shares	0	22,828,068	32,700,815	19,334,459
Weighted average shares outstanding - diluted	1,279,072,748	1,442,067,842	1,357,108,784	1,459,483,233
Basic:
Income (loss) from continuing operations	$ (0.17)	$ 1.54	$ 3.05	$ 4.78
Income (loss) from discontinued operations	(0.01)	0	0	(0.01)
Net Income (loss) attributable to AIG - basic (in dollars per share)	(0.18)	1.54	3.05	4.77
Diluted:
Income from continuing operations	(0.17)	1.52	2.97	4.72
Income (loss) from discontinued operations	(0.01)	0	0	(0.01)
Net Income (loss) attributable to AIG - diluted (in dollars per share)	$ (0.18)	$ 1.52	$ 2.97	$ 4.71
Basic and diluted:
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive	100,000	300,000	200,000	300,000

EMPLOYEE BENEFITS (Details)

EMPLOYEE BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Components of net periodic benefit cost:
Unrealized change arising during period			$ 324
Pensions
Components of net periodic benefit cost:
Service cost	$ 51	$ 53	175	$ 162
Interest cost	60	64	182	193
Expected return on assets	(79)	(79)	(235)	(232)
Amortization of prior service (credit) cost	(7)	(9)	(24)	(27)
Amortization of net (gain) loss	23	11	93	37
Curtailment (gain) loss	(179)		(180)
Net periodic benefit cost	(131)	40	11	133
Contributed to pension plans			600
Estimates additional contribution to pension plans for the remainder of 2015			14
U.S. Pension Plans
Components of net periodic benefit cost:
Service cost	41	42	144	130
Interest cost	54	57	164	171
Expected return on assets	(74)	(73)	(218)	(215)
Amortization of prior service (credit) cost	(6)	(8)	(22)	(25)
Amortization of net (gain) loss	21	9	86	31
Curtailment (gain) loss	(179)		(179)
Net periodic benefit cost	(143)	27	(25)	92
Contributed to pension plans			541
Non U.S. Pension Plans
Components of net periodic benefit cost:
Service cost	10	11	31	32
Interest cost	6	7	18	22
Expected return on assets	(5)	(6)	(17)	(17)
Amortization of prior service (credit) cost	(1)	(1)	(2)	(2)
Amortization of net (gain) loss	2	2	7	6
Curtailment (gain) loss			(1)
Net periodic benefit cost	12	13	36	41
Postretirement Plans
Components of net periodic benefit cost:
Service cost	1	1	6	4
Interest cost	3	3	8	9
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	(3)	(3)	(8)	(8)
Amortization of net (gain) loss	0	0	0	0
Net periodic benefit cost	1	1	6	5
U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost	1	1	4	3
Interest cost	2	2	6	7
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	(3)	(3)	(8)	(8)
Amortization of net (gain) loss	0	0	0	0
Net periodic benefit cost	0	0	2	2
Non U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost	0	0	2	1
Interest cost	1	1	2	2
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	0	0	0	0
Amortization of net (gain) loss	0	0	0	0
Net periodic benefit cost	$ 1	$ 1	$ 4	$ 3

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Income tax expense (benefit):
Effective tax rates on income from continuing operations (as a percent)		27.20%	34.50%	29.80%
U.S. federal income tax at statutory rate (as a percent)			35.00%	35.00%
Accounting for Uncertainty in Income Taxes
Unrecognized tax benefits, excluding interest and penalties	$ 4,400		$ 4,400		$ 4,400
Unrecognized tax benefits, if recognized would not affect the effective tax rate	200		200		300
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate	4,200		4,200		4,100
Unrecognized tax benefits, interest and penalties accrued	$ 1,200		1,200		$ 1,100
Unrecognized tax benefits, interest net of the federal benefit (expense) and penalties			133	$ (64)
Unrecognized tax benefits, period of reasonably possible change in balance	P12M
Foreign Country
Income tax expense (benefit):
Deferred tax asset valuation allowance recognized	$ 8		$ 61

INFORMATION PROVIDED IN CONNE79

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Balance Sheets) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Assets:
Short-term investments	$ 12,408	$ 11,243
Other investments	333,993	344,523
Total investments	346,401	355,766
Cash	1,569	1,758	$ 1,933	$ 2,241
Other assets, including deferred income taxes	154,015	158,057
Total assets	501,985	515,581
Liabilities:
Insurance liabilities	267,946	270,615
Long-term debt	30,719	31,217
Other liabilities, including intercompany balances	103,701	106,477
Total liabilities	402,366	408,309
Total AIG shareholders' equity	98,999	106,898
Non-redeemable noncontrolling interests	620	374
Total equity`	99,619	107,272	108,983	101,081
Total liabilities and equity	501,985	515,581
AIG (As Guarantor)
Assets:
Short-term investments	5,531	6,078
Other investments	9,028	11,415
Total investments	14,559	17,493
Cash	20	26	112	30
Loans to subsidiaries	31,354	31,070
Investment in consolidated subsidiaries	59,411	62,811
Other assets, including deferred income taxes	25,428	23,835
Total assets	130,772	135,235
Liabilities:
Long-term debt	20,794	21,190
Other liabilities, including intercompany balances	10,439	6,196
Loans from subsidiaries	540	951
Total liabilities	31,773	28,337
Total AIG shareholders' equity	98,999	106,898
Total equity`	98,999	106,898
Total liabilities and equity	130,772	135,235
AIGLH
Assets:
Cash	3	91	9	51
Investment in consolidated subsidiaries	32,486	35,850
Other assets, including deferred income taxes	260	2,305
Total assets	32,749	38,246
Liabilities:
Long-term debt	707	820
Other liabilities, including intercompany balances	185	2,314
Loans from subsidiaries	0	0
Total liabilities	892	3,134
Total AIG shareholders' equity	31,857	35,112
Total equity`	31,857	35,112
Total liabilities and equity	32,749	38,246
Other Subsidiaries
Assets:
Short-term investments	7,234	6,231
Other investments	324,965	333,108
Total investments	332,199	339,339
Cash	1,546	1,641	$ 1,812	$ 2,160
Loans to subsidiaries	543	779
Other assets, including deferred income taxes	130,952	141,826
Total assets	465,240	483,585
Liabilities:
Insurance liabilities	267,946	270,615
Long-term debt	9,218	9,207
Other liabilities, including intercompany balances	96,104	108,189
Loans from subsidiaries	31,357	30,898
Total liabilities	404,625	418,909
Total AIG shareholders' equity	59,995	64,302
Non-redeemable noncontrolling interests	620	374
Total equity`	60,615	64,676
Total liabilities and equity	465,240	483,585
Reclassifications and Eliminations
Assets:
Short-term investments	(357)	(1,066)
Other investments	0
Total investments	(357)	(1,066)
Loans to subsidiaries	(31,897)	(31,849)
Investment in consolidated subsidiaries	(91,897)	(98,661)
Other assets, including deferred income taxes	(2,625)	(9,909)
Total assets	(126,776)	(141,485)
Liabilities:
Other liabilities, including intercompany balances	(3,027)	(10,222)
Loans from subsidiaries	(31,897)	(31,849)
Total liabilities	(34,924)	(42,071)
Total AIG shareholders' equity	(91,852)	(99,414)
Total equity`	(91,852)	(99,414)
Total liabilities and equity	$ (126,776)	$ (141,485)

INFORMATION PROVIDED IN CONNE80

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Equity in earnings of consolidated subsidiaries	$ 0	$ 0	$ 0	$ 0
Other income	12,822	16,697	44,496	48,996
Total revenues	12,822	16,697	44,496	48,996
Expenses:
Interest expense	321	430	977	1,372
Other expenses	12,270	12,506	36,550	36,838
Loss on extinguishment of debt	346	742	756	1,014
Total benefits, claims and expenses	12,937	13,678	38,283	39,224
Income (loss) from continuing operations before income tax expense (benefit)	(115)	3,019	6,213	9,772
Income tax expense (benefit)	65	820	2,142	2,908
Income (loss) from continuing operations	(180)	2,199	4,071	6,864
Income (loss) from discontinued operations, net of income tax	(17)	2	0	(15)
Net income (loss)	(197)	2,201	4,071	6,849
Net income (loss) from continuing operations attributable to noncontrolling interests	34	9	34	(25)
Net income (loss) attributable to AIG	(231)	2,192	4,037	6,874
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries	717	2,661	5,793	8,149
Other income	(221)	615	(57)	1,094
Total revenues	496	3,276	5,736	9,243
Expenses:
Interest expense	254	378	810	1,210
Other expenses	352	284	899	1,310
Loss on extinguishment of debt	345	682	703	987
Total benefits, claims and expenses	951	1,344	2,412	3,507
Income (loss) from continuing operations before income tax expense (benefit)	(455)	1,932	3,324	5,736
Income tax expense (benefit)	(224)	(261)	(714)	(1,137)
Income (loss) from continuing operations	(231)	2,193	4,038	6,873
Income (loss) from discontinued operations, net of income tax	0	(1)	(1)	1
Net income (loss)	(231)	2,192	4,037	6,874
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	(231)	2,192	4,037	6,874
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries	222	1,315	1,744	2,789
Other income	0	0	0	0
Total revenues	222	1,315	1,744	2,789
Expenses:
Interest expense	14	22	44	80
Other expenses	0	61	42	79
Loss on extinguishment of debt	0	0	0	0
Total benefits, claims and expenses	14	83	86	159
Income (loss) from continuing operations before income tax expense (benefit)	208	1,232	1,658	2,630
Income tax expense (benefit)	(6)	(33)	(69)	(54)
Income (loss) from continuing operations	214	1,265	1,727	2,684
Income (loss) from discontinued operations, net of income tax	0	0	0	0
Net income (loss)	214	1,265	1,727	2,684
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	214	1,265	1,727	2,684
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries	0	0	0	0
Other income	13,220	16,161	45,050	48,165
Total revenues	13,220	16,161	45,050	48,165
Expenses:
Interest expense	83	62	213	180
Other expenses	12,064	12,196	36,016	35,564
Loss on extinguishment of debt	1	60	46	77
Total benefits, claims and expenses	12,148	12,318	36,275	35,821
Income (loss) from continuing operations before income tax expense (benefit)	1,072	3,843	8,775	12,344
Income tax expense (benefit)	295	1,117	2,925	4,121
Income (loss) from continuing operations	777	2,726	5,850	8,223
Income (loss) from discontinued operations, net of income tax	(17)	3	1	(16)
Net income (loss)	760	2,729	5,851	8,207
Net income (loss) from continuing operations attributable to noncontrolling interests	34	9	34	(25)
Net income (loss) attributable to AIG	726	2,720	5,817	8,232
Reclassifications and Eliminations
Revenues:
Equity in earnings of consolidated subsidiaries	(939)	(3,976)	(7,537)	(10,938)
Other income	(177)	(79)	(497)	(263)
Total revenues	(1,116)	(4,055)	(8,034)	(11,201)
Expenses:
Interest expense	(30)	(32)	(90)	(98)
Other expenses	(146)	(35)	(407)	(115)
Loss on extinguishment of debt	0	0	7	(50)
Total benefits, claims and expenses	(176)	(67)	(490)	(263)
Income (loss) from continuing operations before income tax expense (benefit)	(940)	(3,988)	(7,544)	(10,938)
Income tax expense (benefit)	0	(3)	0	(22)
Income (loss) from continuing operations	(940)	(3,985)	(7,544)	(10,916)
Income (loss) from discontinued operations, net of income tax	0	0	0	0
Net income (loss)	(940)	(3,985)	(7,544)	(10,916)
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	$ (940)	$ (3,985)	$ (7,544)	$ (10,916)

INFORMATION PROVIDED IN CONNE81

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Comprehensive Income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ (197)	$ 2,201	$ 4,071	$ 6,849
Other comprehensive income (loss)	(1,064)	(181)	(4,064)	4,970
Comprehensive income (loss)	(1,261)	2,020	7	11,819
Total comprehensive income (loss) attributable to noncontrolling interests	33	8	30	(26)
Comprehensive income (loss) attributable to AIG	(1,294)	2,012	(23)	11,845
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(231)	2,192	4,037	6,874
Other comprehensive income (loss)	(1,063)	(180)	(4,060)	4,971
Comprehensive income (loss)	(1,294)	2,012	(23)	11,845
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	(1,294)	2,012	(23)	11,845
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	214	1,265	1,727	2,684
Other comprehensive income (loss)	(548)	(259)	3,942	2,522
Comprehensive income (loss)	(334)	1,006	5,669	5,206
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	(334)	1,006	5,669	5,206
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	760	2,729	5,851	8,207
Other comprehensive income (loss)	187	(1,885)	52,820	1,848
Comprehensive income (loss)	947	844	58,671	10,055
Total comprehensive income (loss) attributable to noncontrolling interests	33	8	30	(26)
Comprehensive income (loss) attributable to AIG	914	836	58,641	10,081
Reclassifications and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(940)	(3,985)	(7,544)	(10,916)
Other comprehensive income (loss)	360	2,143	(56,766)	(4,371)
Comprehensive income (loss)	(580)	(1,842)	(64,310)	(15,287)
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	$ (580)	$ (1,842)	$ (64,310)	$ (15,287)

INFORMATION PROVIDED IN CONNE82

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities		$ 2,234	$ 4,357
Cash flows from investing activities:
Sales of investments		54,481	46,561
Purchase of investments		(47,475)	(43,081)
Loans to subsidiaries - net		0	0
Contributions to subsidiaries - net		0
Net change in restricted cash		1,476	(660)
Net change in short-term investments		(1,028)	2,342
Other, net		(774)	(295)
Net cash provided by investing activities		6,680	4,867
Cash flows from financing activities:
Issuance of long-term debt		6,449	5,827
Repayments of long-term debt		(8,343)	(11,561)
Purchase of Common Stock		(7,473)	(3,403)
Intercompany loans - net			0
Cash dividends paid to shareholders		(687)	(539)
Other, net		990	75
Net cash (used in) financing activities		(9,064)	(9,601)
Effect of exchange rate changes on cash		(39)	(19)
Change in cash		(189)	(396)
Cash at beginning of year		1,758	2,241
Reclassification to assets held for sale		0	88
Cash at end of period		1,569	1,933
Interest:
Third party		(1,112)	(2,496)
Taxes:
Income tax authorities		(406)	(614)
Non-cash financing and investing activities:
Non-cash consideration received from sale	$ 500
Aer Cap
Non-cash financing and investing activities:
Non-cash consideration received from sale		500
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities		3,675	7,228
Cash flows from investing activities:
Sales of investments		5,610	2,032
Purchase of investments		(1,373)	(1,257)
Loans to subsidiaries - net		(1,227)	(1,687)
Contributions to subsidiaries - net		0
Contributions from (to) subsidiaries, Net			77
Net change in restricted cash		0	(5)
Net change in short-term investments		1,940	2,947
Other, net		(4)	(61)
Net cash provided by investing activities		4,946	2,046
Cash flows from financing activities:
Issuance of long-term debt		5,540	2,489
Repayments of long-term debt		(5,728)	(7,368)
Purchase of Common Stock		(7,473)	(3,403)
Intercompany loans - net		(236)	(47)
Cash dividends paid to shareholders		(687)	(539)
Other, net		(43)	(324)
Net cash (used in) financing activities		(8,627)	(9,192)
Effect of exchange rate changes on cash		0	0
Change in cash		(6)	82
Cash at beginning of year		26	30
Reclassification to assets held for sale		0
Cash at end of period		20	112
Interest:
Third party		(846)	(1,238)
Intercompany		0	(1)
Taxes:
Income tax authorities		(17)	(18)
Intercompany		1,769	1,348
Non-cash financing and investing activities:
Return of capital and dividend received in the form of securities		1,997	1,538
Capital contributions		111	993
Return of capital			4,836
AIG (As Guarantor) | Aer Cap
Non-cash financing and investing activities:
Non-cash consideration received from sale		500
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities		1,386	4,333
Cash flows from investing activities:
Sales of investments		0	0
Purchase of investments		0	0
Loans to subsidiaries - net		0	0
Contributions to subsidiaries - net		0
Net change in restricted cash		0	0
Net change in short-term investments		0	0
Other, net		0	0
Net cash provided by investing activities		0	0
Cash flows from financing activities:
Issuance of long-term debt		0	0
Repayments of long-term debt		(115)	(165)
Purchase of Common Stock		0	0
Intercompany loans - net		0	(279)
Cash dividends paid to shareholders		(1,359)	(3,931)
Other, net		0	0
Net cash (used in) financing activities		(1,474)	(4,375)
Effect of exchange rate changes on cash		0	0
Change in cash		(88)	(42)
Cash at beginning of year		91	51
Reclassification to assets held for sale		0
Cash at end of period		3	9
Interest:
Third party		(57)	(87)
Intercompany		0	(7)
Taxes:
Income tax authorities		0	0
Intercompany		0	0
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities		508	3,979
Cash flows from investing activities:
Sales of investments		52,234	45,254
Purchase of investments		(49,465)	(42,549)
Loans to subsidiaries - net		2,690	327
Contributions to subsidiaries - net		0
Net change in restricted cash		1,476	(655)
Net change in short-term investments		(2,968)	(605)
Other, net		(770)	(234)
Net cash provided by investing activities		3,197	1,538
Cash flows from financing activities:
Issuance of long-term debt		909	3,338
Repayments of long-term debt		(2,500)	(4,028)
Purchase of Common Stock		0	0
Intercompany loans - net		(1,227)	1,686
Cash dividends paid to shareholders		(1,976)	(7,252)
Other, net		1,033	322
Net cash (used in) financing activities		(3,761)	(5,934)
Effect of exchange rate changes on cash		(39)	(19)
Change in cash		(95)	(436)
Cash at beginning of year		1,641	2,160
Reclassification to assets held for sale			88
Cash at end of period		1,546	1,812
Interest:
Third party		(209)	(1,171)
Intercompany		0	8
Taxes:
Income tax authorities		(389)	(596)
Intercompany		(1,769)	(1,348)
AIG Capital Corporation
Non-cash financing and investing activities:
Return of capital			4,800
Reclassifications and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities		(3,335)	(11,183)
Cash flows from investing activities:
Sales of investments		(3,363)	(725)
Purchase of investments		3,363	725
Loans to subsidiaries - net		(1,463)	1,360
Contributions to subsidiaries - net		0
Contributions from (to) subsidiaries, Net			(77)
Net cash provided by investing activities		(1,463)	1,283
Cash flows from financing activities:
Intercompany loans - net		1,463	(1,360)
Cash dividends paid to shareholders		3,335	11,183
Other, net		0	77
Net cash (used in) financing activities		$ 4,798	$ 9,900

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	Nov. 02, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Subsequent Event [Line Items]
Cash dividend declared per common share (in dollars per share)		$ 0.28	$ 0.125	$ 0.53	$ 0.375
Subsequent event
Subsequent Event [Line Items]
Date Dividends Declared				Nov. 2, 2015
Date Dividends To Be Paid				Dec. 21, 2015
Date of Shareholders of Record				Dec. 7, 2015
Date of Warrant exercise price calculated				Dec. 2, 2015
Subsequent event | Common Stock
Subsequent Event [Line Items]
Cash dividend declared per common share (in dollars per share)	$ 0.28