American International (AIG) 10-Q 3 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 31, 2017
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	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		903,405,681
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Fixed maturity securities:
Bonds available for sale, at fair value (amortized cost: 2017 - $222,720; 2016 - $232,241)	$ 235,289	$ 241,537
Other bond securities, at fair value (See Note 6)	13,478	13,998
Equity Securities:
Common and preferred stock available for sale, at fair value (cost: 2017 - $1,181; 2016 - $1,697)	1,605	2,078
Other common and preferred stock, at fair value (See Note 6)	506	482
Mortgage and other loans receivable, net of allowance (portion measured at fair value: 2017 - $5; 2016 - $11)	34,642	33,240
Other invested assets (portion measured at fair value: 2017 - $6,600; 2016 - $6,946)	23,132	24,538
Short-term investments (portion measured at fair value: 2017 - $3,405; 2016 - $3,341)	12,094	12,302
Total investments	320,746	328,175
Cash	2,517	1,868
Accrued investment income	2,337	2,495
Premiums and other receivables, net of allowance	10,921	10,465
Reinsurance assets, net of allowance	34,510	21,901
Deferred income taxes	20,171	21,332
Deferred policy acquisition costs	11,063	11,042
Other assets, including restricted cash of $234 in 2017 and $193 in 2016 (portion measured at fair value: 2017 - $996; 2016 - $1,809)	9,852	10,815
Separate account assets, at fair value	87,090	82,972
Assets held for sale	555	7,199
Total assets	499,762	498,264
Liabilities:
Liability for unpaid losses and loss adjustment expenses	76,422	77,077
Unearned premiums	19,992	19,634
Future policy benefits for life and accident and health insurance contracts	43,252	42,204
Policyholder contract deposits (portion measured at fair value: 2017 - $3,531; 2016 - $3,058)	133,295	132,216
Other policyholder funds (portion measured at fair value: 2017 - $0; 2016 - $5)	4,613	3,989
Other liabilities (portion measured at fair value: 2017 - $1,854; 2016 - $2,016)	28,135	26,296
Long-term debt (portion measured at fair value: 2017 - $3,085; 2016 - $3,428)	31,812	30,912
Separate account liabilities	87,090	82,972
Liabilities held for sale	827	6,106
Total liabilities	425,438	421,406
Contingencies, commitments and guarantees (see Note 11)
AIG shareholders' equity:
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2017 - 1,906,671,492 and 2016 - 1,906,671,492	4,766	4,766
Treasury stock, at cost; 2017 - 1,003,278,872 shares; 2016 - 911,335,651 shares of common stock	(47,329)	(41,471)
Additional paid-in capital	80,913	81,064
Retained earnings	30,420	28,711
Accumulated other comprehensive income (loss)	4,962	3,230
Total AIG shareholders' equity	73,732	76,300
Non-redeemable noncontrolling interests	592	558
Total equity	74,324	76,858
Total liabilities and equity	$ 499,762	$ 498,264

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical - assets and liabilities) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Assets:
Bonds available for sale, amortized cost	$ 222,720	$ 232,241
Common and preferred stock available for sale, cost	1,181	1,697
Mortgage and other loans receivable, portion measured at fair value	5	11
Other invested assets, portion measured at fair value	6,600	6,946
Short-term investments, portion measured at fair value	3,405	3,341
Other assets, restricted cash	234	193
Other assets, portion measured at fair value	996	1,809
Liabilities:
Policyholder contract deposits, portion measured at fair value	3,531	3,058
Other policyholder funds, portion measured at fair value	0	5
Other liabilities, portion measured at fair value	1,854	2,016
Long-term debt, portion measured at fair value	$ 3,085	$ 3,428

CONSOLIDATED BALANCE SHEETS (P4

CONSOLIDATED BALANCE SHEETS (Parenthetical - equity) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
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	1,003,278,872	911,335,651

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Premiums	$ 7,614	$ 8,751	$ 15,396	$ 17,557
Policy fees	725	696	1,449	1,383
Net investment income	3,613	3,683	7,299	6,696
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities	(33)	(65)	(72)	(274)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income (loss)	(28)	(29)	(49)	(22)
Net other-than-temporary impairments on available for sale securities recognized in net income (loss)	(61)	(94)	(121)	(296)
Other realized capital gains (losses)	(8)	1,136	(63)	232
Total net realized capital gains (losses)	(69)	1,042	(184)	(64)
Other income	619	552	1,174	931
Total revenues	12,502	14,724	25,134	26,503
Benefits, losses and expenses:
Policyholder benefits and losses incurred	6,284	6,872	12,331	13,259
Interest credited to policyholder account balances	906	961	1,816	1,911
Amortization of deferred policy acquisition costs	1,115	1,345	2,223	2,607
General operating and other expenses	2,182	2,586	4,625	5,589
Interest expense	292	320	590	626
(Gain) Loss on extinguishment of debt	(4)	7	(5)	90
Net (gain) loss on sale of divested businesses	60	(225)	160	(223)
Total benefits, losses and expenses	10,835	11,866	21,740	23,859
Income (loss) from continuing operations before income tax expense (benefit)	1,667	2,858	3,394	2,644
Income tax expense (benefit):
Income tax expense (benefit)	557	924	1,073	866
Income (loss) from continuing operations	1,110	1,934	2,321	1,778
Income (loss) from discontinued operations, net of income tax	8	(10)	8	(57)
Net income (loss)	1,118	1,924	2,329	1,721
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	(12)	11	14	(9)
Net income (loss) attributable to AIG	$ 1,130	$ 1,913	$ 2,315	$ 1,730
Basic:
Income (loss) from continuing operations	$ 1.21	$ 1.73	$ 2.42	$ 1.57
Income (loss) from discontinued operations	0.01	(0.01)	0.01	(0.05)
Net income (loss) attributable to AIG	1.22	1.72	2.43	1.52
Diluted:
Income (loss) from continuing operations	1.18	1.69	2.36	1.54
Income (loss) from discontinued operations	0.01	(0.01)	0.01	(0.05)
Net income (loss) attributable to AIG	$ 1.19	$ 1.68	$ 2.37	$ 1.49
Weighted average shares outstanding:
Basic	925,751,084	1,113,587,927	953,109,915	1,135,068,193
Diluted	948,248,771	1,140,045,973	976,627,652	1,163,089,748
Dividends declared per common share	$ 0.32	$ 0.32	$ 0.64	$ 0.64

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ 1,118	$ 1,924	$ 2,329	$ 1,721
Other comprehensive income (loss), net of tax
Change in unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were recognized	119	22	233	(327)
Change in unrealized appreciation (depreciation) of all other investments	653	2,409	1,348	5,836
Change in foreign currency translation adjustments	398	313	122	221
Change in retirement plan liabilities adjustment	11	(10)	29	(8)
Other comprehensive income (loss)	1,181	2,734	1,732	5,722
Comprehensive income (loss)	2,299	4,658	4,061	7,443
Comprehensive income (loss) attributable to noncontrolling interests	(12)	11	14	(9)
Comprehensive income (loss) attributable to AIG	$ 2,311	$ 4,647	$ 4,047	$ 7,452

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Total AIG Shareholders' Equity	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Non redeemable Non-controlling Interests
Balance at Dec. 31, 2015	$ 90,210	$ 89,658	$ 4,766	$ (30,098)	$ 81,510	$ 30,943	$ 2,537	$ 552
Increase (Decrease) in Stockholders' Equity
Common stock issued under stock plans	(88)	(88)		84	(172)
Purchase of common stock	(6,248)	(6,248)	0	(6,248)
Net income (loss) attributable to AIG or noncontrolling interests	1,721	1,730	0	0	0	1,730	0	(9)
Dividends	(713)	(713)				(713)
Other Comprehensive Income (Loss)	5,722	5,722	0	0	0	0	5,722	0
Current and deferred income taxes	19	19			19
Net increase due to acquisitions and consolidations	44							44
Contributions from noncontrolling interests	3	0	0	0	0	0	0	3
Distributions to noncontrolling interests	(15)	0	0	0	0	0	0	(15)
Other	(118)	(134)	0	0	(125)	(9)	0	16
Balance at Jun. 30, 2016	90,537	89,946	4,766	(36,262)	81,232	31,951	8,259	591
Balance at Dec. 31, 2016	76,858	76,300	4,766	(41,471)	81,064	28,711	3,230	558
Increase (Decrease) in Stockholders' Equity
Common stock issued under stock plans	(164)	(164)		140	(304)
Purchase of common stock	(6,000)	(6,000)	0	(6,000)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	2,329	2,315	0	0	0	2,315	0	14
Dividends	(597)	(597)	0	0	0	(597)	0	0
Other Comprehensive Income (Loss)	1,732	1,732	0	0	0	0	1,732	0
Current and deferred income taxes	(4)	(4)			(4)
Net increase due to acquisitions and consolidations	46							46
Contributions from noncontrolling interests	14	0	0	0	0	0	0	14
Distributions to noncontrolling interests	(82)	0	0	0	0	0	0	(82)
Other	192	150	0	2	157	(9)	0	42
Balance at Jun. 30, 2017	$ 74,324	$ 73,732	$ 4,766	$ (47,329)	$ 80,913	$ 30,420	$ 4,962	$ 592

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Cash flows from operating activities:
Net income (loss)	$ 2,329	$ 1,721
(Income) loss from discontinued operations	(8)	57
Noncash revenues, expenses, gains and losses included in income:
Net gains on sales of securities available for sale and other assets	(400)	(907)
Net (gains) losses on sales of divested businesses	160	(223)
(Gains) losses on extinguishment of debt	(5)	90
Unrealized (gains) losses in earnings - net	(287)	1,130
Equity in income from equity method investments, net of dividends or distributions	(259)	145
Depreciation and other amortization	2,002	2,270
Impairments of assets	291	636
Changes in operating assets and liabilities:
Insurance reserves	598	313
Premiums and other receivables and payables - net	(13)	(614)
Reinsurance assets and funds held under reinsurance treaties	(12,524)	(988)
Capitalization of deferred policy acquisition costs	(2,425)	(2,554)
Current and deferred income taxes - net	669	750
Other, net	587	(1,255)
Total adjustments	(11,606)	(1,207)
Net cash provided by (used in) operating activities	(9,285)	571
Sales or distribution of:
Available for sale securities	23,581	13,540
Other securities	1,871	2,246
Other invested assets	3,061	3,687
Divested businesses, net	538
Maturities of fixed maturity securities available for sale	15,128	12,350
Principal payments received on and sales of mortgage and other loans receivable	3,005	2,964
Purchases of:
Available for sale securities	(26,025)	(27,573)
Other securities	(281)	(381)
Other invested assets	(1,786)	(1,602)
Mortgage and other loans receivable	(4,259)	(5,081)
Net change in restricted cash	(44)	(78)
Net change in short-term investments	1,047	(1,755)
Other, net	(917)	1,419
Net cash provided by (used in) investing activities	14,919	(264)
Proceeds from (payments for)
Policyholder contract deposits	8,916	9,539
Policyholder contract withdrawals	(7,917)	(6,787)
Issuance of long-term debt	2,221	6,688
Repayments of long-term debt	(1,606)	(2,919)
Issuance of Common Stock	0	0
Purchase of Common Stock	(6,000)	(6,248)
Dividends paid	(597)	(713)
Other, net	(44)	250
Net cash provided by (used in) financing activities	(5,027)	(190)
Effect of exchange rate changes on cash	(24)	38
Net increase (decrease) in cash	583	155
Cash at beginning of year	1,868	1,629
Change in cash of businesses held for sale	66
Cash at end of year	$ 2,517	$ 1,784

Supplementary Disclosure of Con

Supplementary Disclosure of Consolidated Cash Flow Information - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash paid during the period for:
Interest	$ 682	$ 650
Taxes	402	117
Non-cash investing/financing activities:
Interest credited to policyholder contract deposits included in financing activities	$ 1,654	1,797
Aer Cap
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash consideration received from sale		$ 0

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2017
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 80 countries and jurisdictions. AIG companies serve commercial 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 its 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 included in annual fi nancial statements prepared in accordance with accountin g 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 Annual Report on Form 10-K for the year ended December 31, 2016 ( the 2016 Annual Report). The condensed consolidated financial information as of December 31, 2016 included herein has been derived from the audited Consolidated Financial Stat ements in the 2016 Annual Report. Certain of our foreign subsidiaries included in the Condensed Consolidated Financial Statements report on different fiscal-period bases. The effect on our consolidated financial condition and results 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 considered for adjustment and/or disclosure. In the opinion of management, these Condens ed Consolidated Financial 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 June 30, 2017 and prior to the issuance of these Condensed Consolidated Financial Statements. Use of Estimates The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involve a significant 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 pro fitability of the character necessary to realize the net deferred tax asset; liability for unpaid losses and loss adjustment expenses (loss reserves); reinsurance assets; valuation of future policy benefit liabilities and timing and extent of loss recognit ion; valuation of liabilities for guaranteed benefit features of variable annuity products; estimated gross profits to value deferred policy acquisition costs for investment-oriented products; impairment charges, including other-than-temporary impairments on available for sale securities, impairments on other invested assets, including investments in life settlements, and goodwill impairment; liability for legal contingencies; and fair value measurements of certain financial assets and liabilities. These ac counting 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 consolidated financial condition, results of operations an d cash flows could be materially affected.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. Summary of Significant Accounting Policies Accounting Standards Adopted During 2017 Derivative Contract Novations In March 2016, the Financial Accounting Standards Board (FASB) issued an accounting standard that clarifies that a change in the counterparty (novation) to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not have a material effect on our consolidated financial condition, results of opera tions or cash flows. Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued an accounting standard that clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. The standard requires an evaluation of embedded call (put) options solely on a four-step decision sequence that requires an entity to consider whether (1) the amount paid upon settlem ent is adjusted based on changes in an index, (2) the amount paid upon settlement is indexed to an underlying other than interest rates or credit risk, (3) the debt involves a substantial premium or discount and (4) the put or call option is contingently e xercisable. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Simplifying the Transition to the Equity Method of Accounting In March 2016, the FASB issued an accounting standard that eliminates the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods during which the investment had been held. We adopt ed the standard on its required effective date of January 1, 2017. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Interest Held through Related Parties that are und er Common Control In October 2016, the FASB issued an accounting standard that amends the consolidation analysis for a reporting entity that is the single decision maker of a variable interest entity (VIE). The new guidance will require the decision maker ’s evaluation of its interests held through related parties that are under common control on a proportionate basis (rather than in their entirety) when determining whether it is the primary beneficiary of that VIE. The amendment does not change the charac teristics of a primary beneficiary. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Future Application of Accounting Standards Revenue 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, fi nancial instruments, and certain other agreements that are governed under other GAAP guidance, but could affect the revenue recognition for certain of our other activities. The standard is effective on January 1, 2018 and may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. Early adoption is permitted as of January 1, 2017, including for interim periods. We continue to assess the impact to our revenue sources that are within the scope of the standard. Our analysis of revenues for the year ended December 31, 2 016 indicates that substantially all of our revenues are from sources not within the scope of the standard. As substantially all of our revenue sources are not within the scope of the stan dard, we do not expect the adoption of the standard to have a material effect on our reported consolidated financial condition, results of operations or cash flows . Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued an accounting standard that will require equity investments that do not follow the equity method of accounting or are not subject to consolidation to be measured at fair value with changes in fair value recognized in earnings, while financi al liabilities for which fair value option accounting has been elected, changes in fair value due to instrument-specific credit risk will be presented separately in other comprehensive income. The standard allows the election to record equity investments w ithout readily determinable fair values at cost, less impairment, adjusted for subsequent observable price changes with changes in the carrying value of the equity investments recorded in earnings. The standard also updates certain fair value disclosure re quirements for financial instruments carried at amortized cost. The standard is effective on January 1, 2018, with early adoption of certain provisions permitted. Based on our initial review, substantially all of our assets and liabilities are not within the scope of the standard . We do not expect the adoption of the sta ndard to have a material effect on our reported consolidated financial condition, results of operations or cash flows. Leases In February 2016, the FASB issued an accounting standard that will require lessees with lease terms of more than 12 months to recognize a right of use asset and a corresponding lease liability on their balance sheets. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating leases or finance leases. The standard is effective on January 1, 2019, with early adoption permitted using a modified retrospective approach. We are assessing the impact of the standard on our reported consolidated financial condition, re sults of operations and cash flows. We are currently quantifying the expected recognition on our balance sheet for a right to use asset and a lease liability as required by the standard. Financial Instruments - Credit Losses In June 2016, the FASB issued an accounting standard that will change how entities account for credit losses for most financial assets, trade receivables and reinsurance receivables. The standard will replace the existing incurred loss impairment model wi th a new “current expected credit loss model” and will apply to financial assets subject to credit losses, those trade receivables measured at amortized cost, reinsurance receivables and certain off-balance sheet credit exposures. The impairment for avail able-for-sale debt securities, including purchased credit deteriorated securities, will be measured in a similar manner, except that losses will be recognized as allowances rather than reductions in the amortized cost of the securities. The standard will also require additional information to be disclosed in the footnotes. The standard is effective on January 1, 2020, with early adoption permitted on January 1, 2019. We are assessing the impact of the standard on our reported consolidated financial condit ion, results of operations and cash flows, but we expect an increase in our allowances for credit losses. The amount of the increase will be impacted by our portfolio composition and quality at the adoption date as well as economic conditions and forecast s at that time. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued an accounting standard that addresses diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash f lows. The amendments provide clarity on the treatment of eight specifically defined types of cash inflows and outflows. The standard is effective on January 1, 2018, with early adoption permitted as long as all amendments are included in the same period. The standard addresses presentation in the statement of cash flows only and will have no effect on our reported consolidated financial condition or results of operations. Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issue d an accounting standard that will require an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, rather than when the asset is sold to a third party. The standard is effec tive on January 1, 2018, with early adoption permitted. We are assessing the impact of the standard on our reported consolidated financial condition, results of operations and cash flows. Restricted Cash In November 2016, the FASB issued an accounting standard that provides guidance on the presentation of restricted cash in the Statement of Cash Flows. Entities will be required to explain the changes during a reporting period in the total of cash, cash equivalents, and amounts generally described as r estricted cash or restricted cash equivalents in the statement of cash flows. The standard is effective on January 1, 2018, with early adoption permitted. The standard addresses presentation of restricted cash in the Statement of Cash Flows only and will have no effect on our reported consolidated financial condition or results of operations. Clarifying the Definition of a Business In January 2017, the FASB issued an accounting standard that changes the definition of a business to assist entities with eva luating when a set of transferred assets and activities is a business. The new standard will require an entity to evaluate if substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset o r a group of similar assets; if so, the set of transferred assets and activities is not a business. At a minimum, a set must include an input and a substantive process that together significantly contribute to the ability to create output. The standard is effective on January 1, 2018, with early adoption permitted. We are assessing the impact of the standard on our reported consolidated financial condition, results of operations and cash flows. Because the standard requires prospective adoption, the im pact is dependent on future acquisitions, dispositions and those entities that we consolidate due to obtaining a controlling financial interest. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued an accounting standard that elim inates the requirement to calculate the implied fair value of goodwill, through a hypothetical purchase price allocation, to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value not to exceed the total amount of goodwill allocated to that reporting unit. An entity should also consider income tax effects from tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The standard is effective on January 1, 2020 with early adoption permitted on testing dates after January 1, 2017. We currently anticipate that the adoption of the standard will not have a material effect on ou r consolidated financial condition, results of operations or cash flows. Gains and Losses from the Derecognition of Nonfinancial Assets In February 2017, the FASB issued an accounting standard that clarifies the scope and application of Other Income - Gain s and Losses from the Derecognition of Nonfinancial Assets, to the sale or transfer of nonfinancial assets and in substance nonfinancial assets to noncustomers, including partial sales. The standard clarifies that a parent transferring its ownership intere st in a consolidated subsidiary is within the scope of the accounting standard if substantially all of the fair value of the assets within that subsidiary are nonfinancial assets. The standard also clarifies that the derecognition of all businesses and non profit activities should be accounted for in accordance with the derecognition and deconsolidation guidance. The standard also eliminates the exception in the financial asset guidance for transfers of investments (including equity method investments) in re al estate entities. An entity is required to apply the amendments in this update at the same time that it applies the amendments in revenues from contracts with customers. The standard is effective on January 1, 2018 and may be applied retrospectively to each period presented or through a cumulative effect adjustment to retained earnings at the date of adoption (modified retrospective approach). We are currently reviewing the standard and assessing the impact of the standard on our reported consolidated f inancial condition, results of operations and cash flows. Improving the Presentation of Net Periodic Pension and Postretirement Benefit Cost In March 2017, the FASB issued an accounting standard that requires entities to report the service cost component o f net periodic pension and postretirement benefit costs in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net periodic benefit costs are required to be sep arately presen ted in the income statement . The amendments also allow only the service cost component to be eligible for capitali zation when applicable. The standard is effective on January 1, 2018, with early adoption permitted. The amendments should be a pplied retrospectively for the presentation of the service cost and othe r components, and prospectively for the capitalization of the service cost component. The standard addresses presentation of net periodic benefit costs in the income statement and will have no effect on our reported consolidated financial condition, resu lts of operations or cash flows. Premium A mortization on Purchased Callable Debt Securities In March 2017, the FASB issued an accounting standard that shortens the amortization period fo r certain callable debt securities held at a premium. Specifically, the standard requires the premium to be amortized to the earliest call date. The standard does not require an accounting change for securities held at a discount; the discount continues t o be amortized to maturity. The standard is effective January 1, 2018, with early adoption permitted as of January 1, 2017, including for interim periods. We are assessing the impact of the standard, but do not expect it to have a material impact on our reported consolidated financial condi tion, results of operations or cash flows . Modification of Share-Based Payment Awards In May 2017, the FASB issued an accounting standard that provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The standard is effective January 1, 2018, with early adoption permi tted, including adoption for interim period s . This standard must be applied prospectively upon adoption. We do not exp ect the standard to have a material effect on our reported consolidated financial cond ition, results of operations o r cash flows .

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2017
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. We report our results of operations as follows: Commercial Insurance business is presented as two operating segments: - Liability and Financial Lines - Property and Special Risks Consumer Insurance business is presented as four operating segments: - Individual Retirement - Group Retirement - Life I nsurance - Personal Insurance The Other Operations category consists of: - Institutional Markets - Income from assets held by AIG Parent and other corporate subsidiaries - General operating expenses not attributable to specific reporting segments - Inte rest expense - United Guaranty — The sale of this business was completed on December 31, 2016 - Fuji Life — The sale of this business was completed on April 30, 2017 The Legacy Portfolio segment consists of: - Legacy Property and Casualty Run-Off Insura nce Lines - Legacy Life Insurance Run-Off Lines - Legacy Investments We evaluate segment performance based on operating revenues and pre-tax operating income (loss). Operating revenues and pre-tax operating income (loss) is derived by excluding certain items from total revenues and net income (loss) attributable to AIG, respectively. See the table below for the items excluded from operating revenues and pre-tax operating income (loss). The following table presents AIG’s continuing operations by operatin g segment: Three Months Ended June 30, 2017 2016 Pre-Tax Pre-Tax Total Operating Total Operating (in millions) Revenues Income (Loss) Revenues Income (Loss) Commercial Insurance Liability and Financial Lines $ 2,747 $ 586 $ 3,428 $ 815 Property and Special Risks 1,786 130 2,116 126 Total Commercial Insurance 4,533 716 5,544 941 Consumer Insurance Individual Retirement 1,383 558 1,509 505 Group Retirement 696 266 707 265 Life Insurance 1,030 106 988 26 Personal Insurance 2,871 330 2,928 152 Total Consumer Insurance 5,980 1,260 6,132 948 Other Operations 899 (302) 1,014 (162) Legacy Portfolio 1,138 431 1,010 207 AIG Consolidation and elimination (54) 28 (131) (14) Total AIG Consolidated revenues and pre-tax operating income 12,496 2,133 13,569 1,920 Reconciling Items from revenues and pre-tax operating income to revenues and pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits 80 80 120 120 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - 58 - (64) (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - (251) - 5 Gain (Loss) on extinguishment of debt - 4 - (7) Net realized capital gains (losses) (69) (69) 1,042 1,042 Gain (loss) from divested businesses - (60) - 225 Non-operating litigation reserves and settlements 6 80 7 7 Net loss reserve discount (benefit) charge - (260) - (300) Pension expense related to a one-time lump sum payment to former employees - (1) - - Restructuring and other costs - (47) - (90) Other (11) - (14) - Revenues and Pre-tax income $ 12,502 $ 1,667 $ 14,724 $ 2,858 Six Months Ended June 30, 2017 2016 Pre-Tax Pre-Tax Total Operating Total Operating (in millions) Revenues Income (Loss) Revenues Income (Loss) Commercial Insurance Liability and Financial Lines $ 5,595 $ 1,160 $ 6,739 $ 1,384 Property and Special Risks 3,621 405 4,103 219 Total Commercial Insurance 9,216 1,565 10,842 1,603 Consumer Insurance Individual Retirement 2,756 1,097 3,002 807 Group Retirement 1,414 509 1,336 456 Life Insurance 2,043 160 1,941 27 Personal Insurance 5,709 542 5,744 362 Total Consumer Insurance 11,922 2,308 12,023 1,652 Other Operations 1,989 (548) 2,012 (401) Legacy Portfolio 2,222 773 1,691 5 AIG Consolidation and elimination (118) 76 (262) 6 Total AIG Consolidated revenues and pre-tax operating income 25,231 4,174 26,306 2,865 Reconciling Items from revenues and pre-tax operating income to revenues and pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits 91 91 253 253 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - 111 - (24) (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - (265) - 12 Gain (Loss) on extinguishment of debt - 5 - (90) Net realized capital losses (184) (184) (64) (64) Gain (loss) from divested businesses - (160) - 223 Non-operating litigation reserves and settlements 16 86 41 38 Net loss reserve discount (benefit) charge - (235) - (291) Pension expense related to a one-time lump sum payment to former employees - (1) - - Restructuring and other costs - (228) - (278) Other (20) - (33) - Revenues and Pre-tax income $ 25,134 $ 3,394 $ 26,503 $ 2,644

HELD-FOR-SALE CLASSIFICATION

HELD-FOR-SALE CLASSIFICATION	6 Months Ended
	Jun. 30, 2017
HELD-FOR-SALE CLASSIFICATION
HELD-FOR-SALE CLASSIFICATION	4 . Held-For-Sale Classification Held-For-Sale Classification We report a business as held-for-sale when management has approved the sale or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the next 12 months and certain other specified criteria are met. A business classified as held-for-sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the bus iness exceeds its estimated fair value, a loss is recognized. Assets and liabilities related to the businesses classified as held-for-sale are separately reported in our Consolidated Balance Sheets beginning in the period in which the business is classifi ed as held-for-sale. Fuji Life, previously classified as held-for-sale, was sold on April 30, 2017. At June 30, 2017 , the following businesses were reported as held-for-sale: United Guaranty Asia On August 15, 2016, we entered into a d efinitive agreement to sell our 100 percent interest in United Guaranty Corporation (UGC) and certain related affiliates to Arch Capital Group Ltd. (Arch). This transaction closed on December 31, 2016. However, due to pending regulatory approvals, United G uaranty Asia was not included in the December 31, 2016 closing and $40 million of cash consideration was retained by Arch. The sale of United Guaranty Asia was completed on July 1, 2017 and we received the $40 million cash proceeds . Certain Insurance Subsi diary Operations On October 18, 2016, we entered into agreements to sell certain insurance operations to Fairfax Financial Holdings Limited (Fairfax). The agreements include the sale of our subsidiary operations in Argentina, Chile, Colombia, Uruguay, Vene zuela and Turkey. Fairfax will also acquire renewal rights for the portfolios of local business written by our operations in Bulgaria, the Czech Republic, Hungary, Poland, Romania and Slovakia, and assume certain of our operating assets and employees. Tota l cash consideration to us is expected to be approximately $234 million. The transaction will close on a country-by-country basis as the regulatory approvals are obtained. In the second quarter of 2017, the sale of operations in Turkey as well as the rene wal rights in Bulgaria, the Czech Republic, Hungary, Poland and Slovakia were completed, which resulted in total cash proceeds of $48 million. The sale of operations in Chile and Colombia was completed on July 31, 2017. The remaining sales are still subjec t to obtaining the relevant regulatory approvals and other customary closing conditions. The following table summarizes the components of assets and liabilities held-for-sale on the Condensed Consolidated Balance Sheets at June 30, 2017 and December 31, 2016* : June 30, December 31, (in millions) 2017 2016 Assets: Fixed maturity securities $ 147 $ 6,045 Equity securities 9 149 Mortgage and other loans receivable, net 2 137 Other invested assets 33 2 Short-term investments 137 130 Cash 67 133 Accrued investment income 3 21 Premiums and other receivables, net of allowance 276 351 Reinsurance assets, net of allowance - 8 Deferred policy acquisition costs - 471 Other assets 41 273 Assets of businesses held for sale 715 7,720 Less: Loss Accrual (160) (521) Total assets held for sale $ 555 $ 7,199 Liabilities: Liability for unpaid losses and loss adjustment expenses $ 410 $ 402 Unearned premiums 274 297 Future policy benefits for life and accident and health insurance contracts - 4,579 Other policyholder funds - 378 Long-term debt 6 - Other liabilities 137 450 Total liabilities held for sale $ 827 $ 6,106 * Excludes net intercompany assets of $394 million and $384 million at June 30, 2017 and December 31, 2016, respectively, that are eliminated in consolidation.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2017
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	5 . Fair Value Measurements Fair Value Measurements on a Recurring Basis Assets and liabilities recorded at fair value in the Condensed Consolidated Balance Sheet s are measured and classified in accordance with a fair value hierarchy consisting of three “levels” based on the observability of valuation inputs: Level 1: Fair value measurements based on quoted prices (unadjusted) in active markets that we have the abil ity 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 i ncluded in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in mar kets that are not active, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3: Fair value measurements based on valuation tech niques that use significant inputs that are unobservable. Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3. The circumstances for using these measurements include those in which there is li ttle, if any, market activity for the asset or liability. Therefore, we must make certain assumptions about the inputs a hypothetical market participant would use to value that asset or liabili ty. In certain cases, the inputs used to measure fair value may fall into different leve ls of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair 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. Assets and Liabilities Measured at Fair Value on a Recurring Basis 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: June 30, 2017 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting (b) Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 1 $ 2,355 $ - $ - $ - $ 2,356 Obligations of states, municipalities and political subdivisions - 17,437 2,285 - - 19,722 Non-U.S. governments 406 14,721 12 - - 15,139 Corporate debt - 131,118 932 - - 132,050 RMBS - 19,673 16,393 - - 36,066 CMBS - 12,428 735 - - 13,163 CDO/ABS - 8,188 8,605 - - 16,793 Total bonds available for sale 407 205,920 28,962 - - 235,289 Other bond securities: U.S. government and government sponsored entities 359 2,821 - - - 3,180 Non-U.S. governments - 54 - - - 54 Corporate debt - 1,820 28 - - 1,848 RMBS - 457 1,510 - - 1,967 CMBS - 410 66 - - 476 CDO/ABS - 719 5,234 - - 5,953 Total other bond securities 359 6,281 6,838 - - 13,478 Equity securities available for sale: Common stock 977 - 7 - - 984 Preferred stock 19 529 - - - 548 Mutual funds 70 3 - - - 73 Total equity securities available for sale 1,066 532 7 - - 1,605 Other equity securities 506 - - - - 506 Mortgage and other loans receivable - - 5 - - 5 Other invested assets (a) - 2 225 - - 227 Derivative assets: Interest rate contracts 4 2,355 - - - 2,359 Foreign exchange contracts - 974 - - - 974 Equity contracts 269 197 63 - - 529 Credit contracts - - 2 - - 2 Other contracts - - 22 - - 22 Counterparty netting and cash collateral - - - (1,265) (1,625) (2,890) Total derivative assets 273 3,526 87 (1,265) (1,625) 996 Short-term investments 2,596 809 - - - 3,405 Separate account assets 82,031 5,059 - - - 87,090 Total $ 87,238 $ 222,129 $ 36,124 $ (1,265) $ (1,625) $ 342,601 Liabilities: Policyholder contract deposits $ - $ 13 $ 3,518 $ - $ - $ 3,531 Other policyholder funds - - - - - - Derivative liabilities: Interest rate contracts 1 1,870 30 - - 1,901 Foreign exchange contracts - 1,201 7 - - 1,208 Equity contracts 41 2 - - - 43 Credit contracts - - 295 - - 295 Other contracts - - 6 - - 6 Counterparty netting and cash collateral - - - (1,265) (1,074) (2,339) Total derivative liabilities 42 3,073 338 (1,265) (1,074) 1,114 Long-term debt - 3,024 61 - - 3,085 Other liabilities 380 360 - - - 740 Total $ 422 $ 6,470 $ 3,917 $ (1,265) $ (1,074) $ 8,470 December 31, 2016 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting (b) Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 63 $ 1,929 $ - $ - $ - $ 1,992 Obligations of states, municipalities and political subdivisions - 22,732 2,040 - - 24,772 Non-U.S. governments 52 14,466 17 - - 14,535 Corporate debt - 131,047 1,133 - - 132,180 RMBS - 20,468 16,906 - - 37,374 CMBS - 12,231 2,040 - - 14,271 CDO/ABS - 8,578 7,835 - - 16,413 Total bonds available for sale 115 211,451 29,971 - - 241,537 Other bond securities: U.S. government and government sponsored entities - 2,939 - - - 2,939 Non-U.S. governments - 51 - - - 51 Corporate debt - 1,755 17 - - 1,772 RMBS - 420 1,605 - - 2,025 CMBS - 448 155 - - 603 CDO/ABS - 905 5,703 - - 6,608 Total other bond securities - 6,518 7,480 - - 13,998 Equity securities available for sale: Common stock 1,056 9 - - - 1,065 Preferred stock 752 - - - - 752 Mutual funds 260 1 - - - 261 Total equity securities available for sale 2,068 10 - - - 2,078 Other equity securities 482 - - - - 482 Mortgage and other loans receivable - - 11 - - 11 Other invested assets (a) - 1 204 - - 205 Derivative assets: Interest rate contracts - 2,328 - - - 2,328 Foreign exchange contracts - 1,320 - - - 1,320 Equity contracts 188 59 58 - - 305 Credit contracts - - 2 - - 2 Other contracts - 6 16 - - 22 Counterparty netting and cash collateral - - - (1,265) (903) (2,168) Total derivative assets 188 3,713 76 (1,265) (903) 1,809 Short-term investments 2,660 681 - - - 3,341 Separate account assets 77,318 5,654 - - - 82,972 Total $ 82,831 $ 228,028 $ 37,742 $ (1,265) $ (903) $ 346,433 Liabilities: Policyholder contract deposits $ - $ 25 $ 3,033 $ - $ - $ 3,058 Other policyholder funds 5 - - - - 5 Derivative liabilities: Interest rate contracts - 3,039 38 - - 3,077 Foreign exchange contracts - 1,358 11 - - 1,369 Equity contracts 12 7 - - - 19 Credit contracts - - 331 - - 331 Other contracts - 1 5 - - 6 Counterparty netting and cash collateral - - - (1,265) (1,521) (2,786) Total derivative liabilities 12 4,405 385 (1,265) (1,521) 2,016 Long-term debt - 3,357 71 - - 3,428 Total $ 17 $ 7,787 $ 3,489 $ (1,265) $ (1,521) $ 8,507 (a) Excludes investments that are meas ured at fair value using the net asset value (NAV) per share (or its equivalent), which totaled $ 6.4 billion and $ 6.7 billion as of June 30, 2017 and December 31, 2016 , respectively. (b) Represents netting of derivative exposures covered by qualifying ma ster netting agreements. 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 act ive market. Conversely, assets are transferred from Level 2 to Level 1 when transaction volume and frequency are indicative of an active market. There were no transfers of securities issued by Non-U.S. government entities from Level 1 to Level 2 in the three -month period ended June 30, 2017 . During the six -month period ended June 30, 2017 , we transferred $ 53 million of securities issued by Non-U.S. government entities from L evel 1 to Level 2, as they are no longer considered actively traded. For similar reasons, during the three - and six -month periods ended June 30, 2017 , we transferred $ 50 million and $ 113 million, respectively, of securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2. Additionally, we transferred $ 126 million of preferred stock from Level 1 to Level 2 during the three - and six -month periods ended June 30, 2017 . We had no material transfers from Level 2 to Level 1 during the three - and six -month periods ended June 30, 2017 . During the three - and six -month periods ended June 30, 2016 , we transferred $ 229 million and $ 312 million, respectively, of securities issued by Non-U.S. government entities from Level 1 to Level 2, as they are no longer considered actively traded. For similar reasons, during the three - and six -month periods ended June 30, 2016 , we transferred $ 16 million 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 six -month periods ended June 30, 2016 . Changes in Level 3 Recurring Fair Value Measurements The following tables present changes during the three -month periods ended June 30, 2017 and 2016 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realiz ed and unrealized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at June 30, 2017 and 2016 : 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 June 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,041 $ (1) $ 89 $ 148 $ 8 $ - $ 2,285 $ - Non-U.S. governments 16 - 1 (5) - - 12 - Corporate debt 1,079 5 3 (153) 70 (72) 932 - RMBS 16,487 264 346 (681) - (23) 16,393 - CMBS 1,003 18 2 (274) - (14) 735 - CDO/ABS 7,755 (28) 132 746 - - 8,605 - Total bonds available for sale 28,381 258 573 (219) 78 (109) 28,962 - Other bond securities: Corporate debt 18 - - 10 - - 28 - RMBS 1,502 66 - (58) - - 1,510 43 CMBS 65 2 - (1) - - 66 2 CDO/ABS 5,508 175 - (449) - - 5,234 55 Total other bond securities 7,093 243 - (498) - - 6,838 100 Equity securities available for sale: Common stock 8 - - - - (1) 7 - Total equity securities available for sale 8 - - - - (1) 7 - Other equity securities - - - - - - - - Mortgage and other loans receivable 11 - - (6) - - 5 - Other invested assets 180 4 2 39 - - 225 4 Total $ 35,673 $ 505 $ 575 $ (684) $ 78 $ (110) $ 36,037 $ 104 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 Liabilities: Policyholder contract deposits $ 3,072 $ 340 $ - $ 106 $ - $ - $ 3,518 $ 7 Derivative liabilities, net: Interest rate contracts 32 2 - (4) - - 30 (1) Foreign exchange contracts 6 1 - - - - 7 (1) Equity contracts (62) (4) - 3 - - (63) 9 Commodity contracts - - - - - - - - Credit contracts 315 (21) - (1) - - 293 23 Other contracts (11) (20) - 18 (3) - (16) 46 Total derivative liabilities, net (a) 280 (42) - 16 (3) - 251 76 Long-term debt (b) 58 2 - 1 - - 61 (2) Total $ 3,410 $ 300 $ - $ 123 $ (3) $ - $ 3,830 $ 81 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 Six Months Ended June 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,040 $ 1 $ 85 $ 169 $ 8 $ (18) $ 2,285 $ - Non-U.S. governments 17 - 1 (6) - - 12 - Corporate debt 1,133 1 - (166) 206 (242) 932 - RMBS 16,906 553 497 (1,539) 8 (32) 16,393 - CMBS 2,040 23 7 (622) - (713) 735 - CDO/ABS 7,835 (22) 180 644 - (32) 8,605 - Total bonds available for sale 29,971 556 770 (1,520) 222 (1,037) 28,962 - Other bond securities: Corporate debt 17 1 - 10 - - 28 1 RMBS 1,605 121 - (183) - (33) 1,510 67 CMBS 155 2 - (18) - (73) 66 3 CDO/ABS 5,703 348 - (817) - - 5,234 125 Total other bond securities 7,480 472 - (1,008) - (106) 6,838 196 Equity securities available for sale: Common stock - - - 8 - (1) 7 - Total equity securities available for sale - - - 8 - (1) 7 - Other equity securities - - - - - - - - Mortgage and other loans receivable 11 - - (6) - - 5 - Other invested assets 204 3 (3) 22 - (1) 225 4 Total $ 37,666 $ 1,031 $ 767 $ (2,504) $ 222 $ (1,145) $ 36,037 $ 200 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 Liabilities: Policyholder contract deposits $ 3,033 $ 295 $ - $ 190 $ - $ - $ 3,518 $ 2 Derivative liabilities, net: Interest rate contracts 38 (1) - (7) - - 30 2 Foreign exchange contracts 11 1 - (5) - - 7 (1) Equity contracts (58) (15) - 10 - - (63) 14 Commodity contracts - - - - - - - - Credit contracts 329 (36) - - - - 293 34 Other contracts (11) (39) - 37 (3) - (16) 45 Total derivative liabilities, net (a) 309 (90) - 35 (3) - 251 94 Long-term debt (b) 71 14 - (24) - - 61 (4) Total $ 3,413 $ 219 $ - $ 201 $ (3) $ - $ 3,830 $ 92 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 June 30, 2016 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,196 $ 2 $ 136 $ (21) $ - $ - $ 2,313 $ - Non-U.S. governments 30 - - 2 - (4) 28 - Corporate debt 1,024 2 7 (65) 193 (325) 836 - RMBS 16,162 234 61 61 261 - 16,779 - CMBS 2,368 16 10 (87) - (12) 2,295 - CDO/ABS 6,592 8 93 382 - - 7,075 - Total bonds available for sale 28,372 262 307 272 454 (341) 29,326 - Other bond securities: Corporate debt 18 1 - (1) - - 18 1 RMBS 1,513 14 - (41) - - 1,486 (19) CMBS 170 - - (2) - - 168 9 CDO/ABS 6,576 109 - (308) - (65) 6,312 (60) Total other bond securities 8,277 124 - (352) - (65) 7,984 (69) Equity securities available for sale: Common stock - - - - - - - - Total equity securities available for sale - - - - - - - - Other equity securities 15 (1) - - - - 14 - Mortgage and other loans receivable 11 - - - - - 11 - Other invested assets 263 (12) 6 (16) - - 241 - Total $ 36,938 $ 373 $ 313 $ (96) $ 454 $ (406) $ 37,576 $ (69) 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 of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Liabilities: Policyholder contract deposits $ 3,251 $ 598 $ - $ 141 $ - $ - $ 3,990 $ 16 Derivative liabilities, net: Interest rate contracts 48 3 - (5) - - 46 - Foreign exchange contracts 9 1 - (1) - - 9 (1) Equity contracts (51) (4) - 3 - - (52) 3 Credit contracts 490 (28) - (89) - - 373 18 Other contracts 121 (24) - 5 - - 102 23 Total derivatives liabilities, net (a) 617 (52) - (87) - - 478 43 Long-term debt (b) 184 (2) - (2) - (113) 67 - Total $ 4,052 $ 544 $ - $ 52 $ - $ (113) $ 4,535 $ 59 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 Six Months Ended June 30, 2016 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,124 $ 2 $ 194 $ (7) $ - $ - $ 2,313 $ - Non-U.S. governments 32 - (2) 2 - (4) 28 - Corporate debt 1,370 3 (17) (36) 314 (798) 836 - RMBS 16,537 479 (359) (172) 294 - 16,779 - CMBS 2,585 58 (78) (168) - (102) 2,295 - CDO/ABS 6,169 20 43 820 23 - 7,075 - Total bonds available for sale 28,817 562 (219) 439 631 (904) 29,326 - Other bond securities: Corporate debt 17 2 - (1) - - 18 3 RMBS 1,581 (23) - (54) - (18) 1,486 (61) CMBS 193 (2) - (23) - - 168 7 CDO/ABS 7,055 (24) - (719) 65 (65) 6,312 (364) Total other bond securities 8,846 (47) - (797) 65 (83) 7,984 (415) Equity securities available for sale: Common stock - - - - - - - - Total equity securities available for sale - - - - - - - - Other equity securities 14 - - - - - 14 1 Mortgage and other loans receivable 11 - - - - - 11 - Other invested assets 332 (1) 1 (37) - (54) 241 - Total $ 38,020 $ 514 $ (218) $ (395) $ 696 $ (1,041) $ 37,576 $ (414) 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 Liabilities: Policyholder contract deposits $ 2,289 $ 1,443 $ - $ 258 $ - $ - $ 3,990 $ 37 Derivative liabilities, net: Interest rate contracts 50 7 - (11) - - 46 (5) Foreign exchange contracts 7 2 - - - - 9 (1) Equity contracts (54) - - 2 - - (52) - Credit contracts 505 (34) - (98) - - 373 28 Other contracts 48 30 - 24 - - 102 (31) Total derivatives liabilities, net (a) 556 5 - (83) - - 478 (9) Long-term debt (b) 183 - - (3) - (113) 67 3 Total $ 3,028 $ 1,448 $ - $ 172 $ - $ (113) $ 4,535 $ 31 (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. Net realized and unrealized gains and losses included in income related to Level 3 assets and liabilities shown above are reported in the Condensed Consolidated Statements of Income as follows: Net Net Realized Investment Capital Other (in millions) Income Gains (Losses) Income Total Three Months Ended June 30, 2017 Bonds available for sale $ 294 $ (36) $ - $ 258 Other bond securities 97 (4) 150 243 Other invested assets 3 1 - 4 Six Months Ended June 30, 2017 Bonds available for sale $ 592 $ (36) $ - $ 556 Other bond securities 172 2 298 472 Other invested assets 3 (2) 2 3 Three Months Ended June 30, 2016 Bonds available for sale $ 291 $ (30) $ 1 $ 262 Other bond securities 26 32 66 124 Other equity securities (1) - - (1) Other invested assets (1) (19) 8 (12) Six Months Ended June 30, 2016 Bonds available for sale $ 589 $ (29) $ 2 $ 562 Other bond securities (8) 32 (71) (47) Other invested assets (3) 32 (30) (1) Net Net Realized Investment Capital Other (in millions) Income Gains (Losses) Income Total Three Months Ended June 30, 2017 Policyholder contract deposits $ - $ 340 $ - $ 340 Derivative liabilities, net - (1) (41) (42) Long-term debt - - 2 2 Six Months Ended June 30, 2017 Policyholder contract deposits $ - $ 295 $ - $ 295 Derivative liabilities, net - (8) (82) (90) Long-term debt - - 14 14 Three Months Ended June 30, 2016 Policyholder contract deposits $ - $ 598 $ - $ 598 Derivative liabilities, net - - (52) (52) Long-term debt - - (2) (2) Six Months Ended June 30, 2016 Policyholder contract deposits $ - $ 1,443 $ - $ 1,443 Derivative liabilities, net - 4 1 5 Long-term debt - - - - The following table present s the gross components of purchases, sales, issues and settlements, net, shown above , for the three - and six - month periods ended June 30, 2017 and 2016 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 June 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 186 $ (11) $ (27) $ 148 Non-U.S. governments - - (5) (5) Corporate debt 30 (54) (129) (153) RMBS 301 - (982) (681) CMBS - (44) (230) (274) CDO/ABS 1,194 - (448) 746 Total bonds available for sale 1,711 (109) (1,821) (219) Other bond securities: Corporate debt 11 - (1) 10 RMBS 14 - (72) (58) CMBS - - (1) (1) CDO/ABS - (8) (441) (449) Total other bond securities 25 (8) (515) (498) Equity securities available for sale - - - - Other equity securities - - - - Mortgage and other loans receivable - (6) - (6) Other invested assets 42 (2) (1) 39 Total assets $ 1,778 $ (125) $ (2,337) $ (684) Liabilities: Policyholder contract deposits $ - $ 82 $ 24 $ 106 Derivative liabilities, net - - 16 16 Long-term debt (b) - - 1 1 Total liabilities $ - $ 82 $ 41 $ 123 Three Months Ended June 30, 2016 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 17 $ (7) $ (31) $ (21) Non-U.S. governments 2 - - 2 Corporate debt - (25) (40) (65) RMBS 1,040 - (979) 61 CMBS 4 (27) (64) (87) CDO/ABS 612 (11) (219) 382 Total bonds available for sale 1,675 (70) (1,333) 272 Other bond securities: Corporate debt - - (1) (1) RMBS 26 - (67) (41) CMBS - - (2) (2) CDO/ABS 61 (19) (350) (308) Total other bond securities 87 (19) (420) (352) Equity securities available for sale - - - - Other invested assets 9 (2) (23) (16) Total assets $ 1,771 $ (91) $ (1,776) $ (96) Liabilities: Policyholder contract deposits $ - $ 140 $ 1 $ 141 Derivative liabilities, net (1) - (86) (87) Long-term debt (b) - - (2) (2) Total liabilities $ (1) $ 140 $ (87) $ 52 Purchases, Sales, Issues and (in millions) Purchases Sales Settlements Settlements, Net (a) Six Months Ended June 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 223 $ (16) $ (38) $ 169 Non-U.S. governments - (1) (5) (6) Corporate debt 30 (54) (142) (166) RMBS 640 (244) (1,935) (1,539) CMBS 39 (111) (550) (622) CDO/ABS 1,207 - (563) 644 Total bonds available for sale 2,139 (426) (3,233) (1,520) Other bond securities: Corporate debt 11 - (1) 10 RMBS 112 (167) (128) (183) CMBS - (11) (7) (18) CDO/ABS - (8) (809) (817) Total other bond securities 123 (186) (945) (1,008) Equity securities available for sale 8 - - 8 Other equity securities - - - - Mortgage and other loans receivable - (6) - (6) Other invested assets 43 (2) (19) 22 Total assets $ 2,313 $ (620) $ (4,197) $ (2,504) Liabilities: Policyholder contract deposits $ - $ 152 $ 38 $ 190 Derivative liabilities, net - - 35 35 Long-term debt (b) - - (24) (24) Total liabilities $ - $ 152 $ 49 $ 201 Six Months Ended June 30, 2016 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions (c) $ 46 $ (7) $ (46) $ (7) Non-U.S. governments 3 - (1) 2 Corporate debt 29 (25) (40) (36) RMBS 1,543 (58) (1,657) (172) CMBS 106 (58) (216) (168) CDO/ABS 1,151 (11) (320) 820 Total bonds available for sale 2,878 (159) (2,280) 439 Other bond securities: Corporate debt - - (1) (1) RMBS 89 (26) (117) (54) CMBS 53 (71) (5) (23) CDO/ABS 69 (36) (752) (719) Total other bond securities 211 (133) (875) (797) Equity securities available for sale - - - - Other equity securities 14 - (14) - Other invested assets 18 (2) (53) (37) Total assets $ 3,121 $ (294) $ (3,222) $ (395) Liabilities: Policyholder contract deposits $ - $ 270 $ (12) $ 258 Derivative liabilities, net (3) - (80) (83) Long-term debt (b) - - (3) (3) Total liabilities $ (3) $ 270 $ (95) $ 172 (a) There were no issuances during the three -month period s ended June 30, 2017 and 2016 , respectively . (b) Includes GIAs, notes, bonds, loans and mortgages payable . 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 gains (losses) on instruments held at June 30, 2017 and 2016 may include changes in fair value that were attr ibutable to both observable (e.g., changes in market interest rates) and unobservable inputs (e.g., changes in unobservable long-dated volatilities) . Transfers of Level 3 Assets and Liabilities We record transfers of assets and liabilities into or out of L evel 3 classification at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. The Net realized and unrealized gains (losses) included in income or Other comprehensive income (loss) as shown in the table above excluded $ 1 million of net gains and $ 8 million of net losses related to assets and liabilities transferred into Level 3 during the three - and six -month periods ended June 30, 2017 , respectively, and included $ 7 million of net losses related to assets and liabilities transferred out of Level 3 in both the three - and six -month periods ended June 30, 2017 . The Net realized and unrealized gains (losses) included in income (loss) or Other comprehensive income (loss) as shown in the table above excluded $ 3 million of net gains and $ 10 million of ne t losses related to assets and liabilities transferred into Level 3 during the three - and six -month periods en ded June 30, 2016 , respectively, and included $ 8 million and $ 53 million of net losses related to assets and liabilities transferred out of Level 3 during the three - and six -month periods end ed June 30, 2016 , respectively. Transfers of Level 3 Assets During the three - and six -month periods ended June 30, 2017 and 2016 , transfers into Level 3 assets primarily included certain investments in private placement corporate debt, CDO/ABS and RMBS . Transfers of private placement corporat e debt and certain ABS 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 inputs that are adjusted to better reflect our own assumptions regarding the c haracteristics of a specific security or associated market liquidity . The transfers of investments in RMBS and CDO and certain ABS into Level 3 assets were due to decreases in market transparency and liquidity for individual security types. During the three - and six -month periods ended June 30, 2017 and 2016 , transfers out of Level 3 assets primarily included private placement and other corporate debt, CMBS, RMBS, CDO/ABS and certain investments in munici pal securities . Transfers of certain investments municipal securities, corporate debt, RMBS, CMBS and CDO/ABS out of Level 3 assets were based on consideration of market liquidity as well as related transparency of pricing and associated observable inputs for these investments. Transfers of certain investments in private placement corporate debt and certain ABS out of Level 3 assets were primarily the result of using observable pricing information that reflects the fair value of those securities without th e need for adjustment based on our own assumptions regarding the characteristics of a specific security or the current liquidity in the market. 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 six -month periods ended June 30, 2017 and 2016 . 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 independent third-party valuation service providers and from internal valuation models. Because input information from third-parties with respect to certain Level 3 in struments (primarily 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 June 30, Valuation Range (in millions) 2017 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,494 Discounted cash flow Yield 3.75% - 4.68% (4.21%) Corporate debt 454 Discounted cash flow Yield 3.90% - 4.58% (4.24%) RMBS (a) 16,471 Discounted cash flow Constant prepayment rate 2.26% - 10.48% (6.37%) Loss severity 47.43% - 79.54% (63.49%) Constant default rate 3.23% - 7.98% (5.61%) Yield 2.96% - 5.32% (4.14%) CDO/ABS (a) 5,030 Discounted cash flow Yield 3.27% - 5.33% (4.30%) CMBS 542 Discounted cash flow Yield 2.39% - 8.01% (5.20%) Liabilities: Embedded derivatives within Policyholder contract deposits: Guaranteed minimum withdrawal benefits (GMWB) 1,917 Discounted cash flow Equity volatility 8.00% - 50.00% Base lapse rate 0.50% - 20.00% Dynamic lapse multiplier 30.00% - 170.00% Mortality multiplier (c) 42.00% - 161.00% Utilization 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 1,140 Discounted cash flow Lapse rate 1.00% - 66.00% Mortality multiplier (c) 101.00% - 103.00% Indexed Life 443 Discounted cash flow Base lapse rate 2.00% to 19.00% Mortality rate 0.00% to 40.00% Fair Value at December 31, Valuation Range (in millions) 2016 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,248 Discounted cash flow Yield 4.12% - 4.91% (4.52%) Corporate debt 498 Discounted cash flow Yield 3.41% - 6.38% (4.90%) RMBS (a) 17,412 Discounted cash flow Constant prepayment rate 3.95% - 6.54% (5.25%) Loss severity 47.51% - 80.98% (64.24%) Constant default rate 3.28% - 8.64% (5.96%) Yield 3.28% - 5.87% (4.57%) CDO/ABS (a) 4,368 Discounted cash flow Yield 3.67% - 5.85% (4.76%) CMBS 1,511 Discounted cash flow Yield 0.48% - 10.21% (5.34%) Liabilities: Embedded derivatives within Policyholder contract deposits: GMWB 1,777 Discounted cash flow Equity volatility 13.00% - 50.00% Base lapse rate 0.50% - 20.00% Dynamic lapse multiplier 30.00% - 170.00% Mortality multiplier (c) 42.00% - 161.00% Utilization 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 859 Discounted cash flow Lapse rate 1.00% - 66.00% Mortality multiplier (c) 101.00% - 103.00% Indexed Life 381 Discounted cash flow Base lapse rate 2.00% - 19.00% Mortality rate 0.00% - 40.00% (a) Information received from third-party valuation service providers. The ranges of the unobservable inputs for 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 tra nches 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) Rep resents discount rates, estimates and assumptions that we believe would be used by market participants when valuing these assets and liabilities. (c) Mortality input s are shown as multipliers of the 2012 Individual Annuity Mortality Basic table for GMWB , and the 1975-1980 Modified Basic Table for in dex annuities. The ranges of reported inputs for Obligations of states, municipalities and political subdivisions, Corporate debt, RMBS, CDO/ABS, and CMBS valued using a discounted cash flow technique consist of one standard deviation in either direction f rom the value -weighted average. The preceding table does not give effect to our risk management practices that might offset risks inherent in these Level 3 assets and liabilities. Sensitivity to Changes in Unobservable Inputs We consider unobservable input s 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 asset or liability. Relevant inputs vary depending on the natur e of the instru

INVESTMENTS

INVESTMENTS	6 Months Ended
	Jun. 30, 2017
INVESTMENTS
INVESTMENTS	6. Investments Securities Available for Sale 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) June 30, 2017 Bonds available for sale: U.S. government and government sponsored entities $ 2,225 $ 153 $ (22) $ 2,356 $ - Obligations of states, municipalities and political subdivisions 18,625 1,167 (70) 19,722 - Non-U.S. governments 14,499 757 (117) 15,139 - Corporate debt 124,719 8,319 (988) 132,050 (5) Mortgage-backed, asset-backed and collateralized: RMBS 33,336 2,992 (262) 36,066 1,504 CMBS 12,830 435 (102) 13,163 46 CDO/ABS 16,486 378 (71) 16,793 59 Total mortgage-backed, asset-backed and collateralized 62,652 3,805 (435) 66,022 1,609 Total bonds available for sale (b) 222,720 14,201 (1,632) 235,289 1,604 Equity securities available for sale: Common stock 616 372 (4) 984 - Preferred stock 504 44 - 548 - Mutual funds 61 12 - 73 - Total equity securities available for sale 1,181 428 (4) 1,605 - Total $ 223,901 $ 14,629 $ (1,636) $ 236,894 $ 1,604 December 31, 2016 Bonds available for sale: U.S. government and government sponsored entities $ 1,870 $ 148 $ (26) $ 1,992 $ - Obligations of states, municipalities and political subdivisions 24,025 1,001 (254) 24,772 - Non-U.S. governments 14,018 773 (256) 14,535 - Corporate debt 126,648 7,271 (1,739) 132,180 (31) Mortgage-backed, asset-backed and collateralized: RMBS 35,311 2,541 (478) 37,374 1,212 CMBS 14,054 409 (192) 14,271 45 CDO/ABS 16,315 278 (180) 16,413 39 Total mortgage-backed, asset-backed and collateralized 65,680 3,228 (850) 68,058 1,296 Total bonds available for sale (b) 232,241 12,421 (3,125) 241,537 1,265 Equity securities available for sale: Common stock 708 369 (12) 1,065 - Preferred stock 748 4 - 752 - Mutual funds 241 23 (3) 261 - Total equity securities available for sale 1,697 396 (15) 2,078 - Total $ 233,938 $ 12,817 $ (3,140) $ 243,615 $ 1,265 (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 June 30, 2017 and December 31, 2016 , bonds available for sale held by us that were below investment grade or not rated totaled $ 31.6 billion and $ 33.6 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 unrea lized 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 June 30, 2017 Bonds available for sale: U.S. government and government sponsored entities $ 949 $ 21 $ 1 $ 1 $ 950 $ 22 Obligations of states, municipalities and political subdivisions 1,867 48 257 22 2,124 70 Non-U.S. governments 3,132 52 475 65 3,607 117 Corporate debt 18,644 504 4,412 484 23,056 988 RMBS 6,364 156 2,716 106 9,080 262 CMBS 2,838 92 226 10 3,064 102 CDO/ABS 2,644 31 1,218 40 3,862 71 Total bonds available for sale 36,438 904 9,305 728 45,743 1,632 Equity securities available for sale: Common stock 42 3 6 1 48 4 Mutual funds 8 - - - 8 - Total equity securities available for sale 50 3 6 1 56 4 Total $ 36,488 $ 907 $ 9,311 $ 729 $ 45,799 $ 1,636 December 31, 2016 Bonds available for sale: U.S. government and government sponsored entities $ 720 $ 26 $ - $ - $ 720 $ 26 Obligations of states, municipalities and political subdivisions 5,814 221 231 33 6,045 254 Non-U.S. governments 3,865 162 489 94 4,354 256 Corporate debt 28,184 1,013 6,080 726 34,264 1,739 RMBS 8,794 252 4,045 226 12,839 478 CMBS 4,469 152 479 40 4,948 192 CDO/ABS 5,362 102 1,961 78 7,323 180 Total bonds available for sale 57,208 1,928 13,285 1,197 70,493 3,125 Equity securities available for sale: Common stock 125 12 - - 125 12 Mutual funds 64 3 - - 64 3 Total equity securities available for sale 189 15 - - 189 15 Total $ 57,397 $ 1,943 $ 13,285 $ 1,197 $ 70,682 $ 3,140 At June 30, 2017 , we held 6,946 and 59 individual fixed maturity and equity securities, respectively, that were in an unrealized loss position, of which 1,222 and eight individual fixed maturity and equity securities , respectively, 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 June 30, 2017 because 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 decli nes, we performed 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 ma rket 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 Available for Sale Position Available for Sale (in millions) Amortized Cost Fair Value Amortized Cost Fair Value June 30, 2017 Due in one year or less $ 8,730 $ 8,960 $ 1,236 $ 1,230 Due after one year through five years 47,266 49,765 5,541 5,412 Due after five years through ten years 41,089 42,441 9,898 9,471 Due after ten years 62,983 68,101 14,259 13,624 Mortgage-backed, asset-backed and collateralized 62,652 66,022 16,441 16,006 Total $ 222,720 $ 235,289 $ 47,375 $ 45,743 December 31, 2016 Due in one year or less $ 7,796 $ 7,994 $ 604 $ 581 Due after one year through five years 49,200 51,958 6,002 5,841 Due after five years through ten years 43,308 44,226 16,045 15,332 Due after ten years 66,257 69,301 25,007 23,629 Mortgage-backed, asset-backed and collateralized 65,680 68,058 25,960 25,110 Total $ 232,241 $ 241,537 $ 73,618 $ 70,493 Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations with or without call or prepayment penalties. The following table presents the gross realized gains and gross realized losses from sales or mat urities of our available for sale securities: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 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 $ 211 $ 46 $ 217 $ 93 $ 544 $ 224 $ 404 $ 642 Equity securities 83 2 980 6 100 18 1,012 14 Total $ 294 $ 48 $ 1,197 $ 99 $ 644 $ 242 $ 1,416 $ 656 For the three and six -month periods ended June 30, 2017 , the aggregate fair value of available for sale securities sold was $ 7.6 b illion and $ 23.4 billion, respectively, which resulted in net realized capital gains (losses) of $ 246 million and $ 402 million, respectively. For the three and six -month periods ended June 30, 2016 , the aggregate fair value of available for sale securities sold was $ 8.3 billion and $ 14.4 billion, respectively, which resulted in net realized capital gains of $ 1.1 billion and $ 760 million, resp ectively. 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: June 30, 2017 December 31, 2016 Fair Percent Fair Percent (in millions) Value of Total Value of Total Fixed maturity securities: U.S. government and government sponsored entities $ 3,180 23 % $ 2,939 20 % Obligations of states, municipalities and political subdivisions - - - - Non-U.S. governments 54 - 51 - Corporate debt 1,848 13 1,772 12 Mortgage-backed, asset-backed and collateralized : RMBS 1,967 14 2,025 14 CMBS 476 3 603 4 CDO/ABS and other collateralized * 5,953 43 6,608 47 Total mortgage-backed, asset-backed and collateralized 8,396 60 9,236 65 Total fixed maturity securities 13,478 96 13,998 97 Equity securities 506 4 482 3 Total $ 13,984 100 % $ 14,480 100 % * Includes $ 298 million and $ 421 million of U.S. g overnment agency-backed ABS at June 30, 2017 and December 31, 2016 , respectively. Other Invested Assets The following table summarizes the carrying amoun ts of other invested assets : June 30, December 31, (in millions) 2017 2016 Alternative investments (a) (b) $ 12,496 $ 13,379 Investment real estate (c) 7,188 6,900 Aircraft asset investments (d) 243 321 Investments in life settlements 2,105 2,516 All other investments 1,100 1,422 Total $ 23,132 $ 24,538 (a) At June 30, 2017 , includes hedge funds of $ 6.8 billion, private equity funds of $ 5.1 billion, and affordable housing partnerships of $ 567 million. At December 31, 2016 , includes hedge funds of $ 7.2 billion, private equity funds of $ 5.5 billion, and affordable housing partnerships of $ 625 million. (b) Approximately 55 percent and 27 percent of our hedge fund portfolio is available for redemption in 2017 and 2018, respectively, an additional 12 percent will be available between 2019 and 2024 . (c) Net of accumulated depreciation of $ 423 million and $ 451 million in June 30, 2017 and December 31, 2016 , respectively. (d) Consists of investments in aircraft equipment held in a consolidated trust. Net Investment Income The following table presents the components of Net i nvestment i ncome: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Fixed maturity securities, including short-term investments $ 2,828 $ 2,992 $ 5,629 $ 5,928 Equity securities 12 (22) 17 (44) Interest on mortgage and other loans 399 376 792 765 Alternative investments * 371 310 819 (56) Real estate 31 35 80 88 Other investments 100 101 216 238 Total investment income 3,741 3,792 7,553 6,919 Investment expenses 128 109 254 223 Net investment income $ 3,613 $ 3,683 $ 7,299 $ 6,696 * Includes income from hedge funds, private equity funds and affordable housing partnerships. Hedge funds for which we elected the fair value option are recorded as of the balance sheet date. Other hedge funds are generally reported on a one-month lag, while private equity funds are generally reported on a one-quarter lag. Net Realized Capital Gains and Losses The following table presents the components of Net realized capital gains (losses) : Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Sales of fixed maturity securities $ 165 $ 124 $ 320 $ (238) Sales of equity securities 81 974 82 998 Other-than-temporary impairments: Severity (2) (3) (2) (5) Change in intent (7) (4) (8) (33) Foreign currency declines - (1) (10) (7) Issuer-specific credit events (55) (95) (112) (226) Adverse projected cash flows (3) (5) (3) (41) Provision for loan losses (24) (30) (18) - Foreign exchange transactions 74 (38) 233 (558) Derivatives and hedge accounting (298) 170 (674) 97 Impairments on investments in life settlements (46) (92) (87) (249) Other * 46 42 95 198 Net realized capital gains (losses) $ (69) $ 1,042 $ (184) $ (64) * Includes $ 107 million of realized gains due to a purchase price adjustment on the sale of Class B shares of Prude ntial Financial, Inc. for the six months ended June 30, 2016 . Change in Unrealized Appreciation (Depreciation) of Investments The following table presents the increase (decrease) in unrealized appreciation (depreciation) of our available for sale sec urities and other investments: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ 2,500 $ 5,584 $ 3,273 $ 10,362 Equity securities (71) (1,045) 43 (1,140) Other investments (83) (66) (137) (214) Total Increase (decrease) in unrealized appreciation (depreciation) of investments * $ 2,346 $ 4,473 $ 3,179 $ 9,008 * Excludes net unrealized losses attributable to businesses held for sale. 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 2016 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 matu rity securities: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Balance, beginning of period $ 946 $ 1,523 $ 1,098 $ 1,747 Increases due to: Credit impairments on new securities subject to impairment losses 41 13 58 123 Additional credit impairments on previously impaired securities 7 74 37 129 Reductions due to: Credit impaired securities fully disposed of for which there was no prior intent or requirement to sell (44) (93) (55) (243) Accretion on securities previously impaired due to credit * (188) (219) (376) (458) Balance, end of period $ 762 $ 1,298 $ 762 $ 1,298 * 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 whether it is probable at acquisition that we will not collect all contractually required payments for these PCI securities, including both principal and interest. 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 securities and the recorded investment in the securities represents the initial accretable yield, which is accreted into Net investment income over their remaining lives on an effective yield basis. Additionally, the diff erence between the contractually required payments 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 changes 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 in undiscounted expected future cash flows due to further credit deterioration as well as changes in the expected timing of the cash f lows can result in the recognition of an other-than-temporary impairment charge, as PCI securities are subject to our policy for evaluating investments for other-than-temporary impairment. Changes to undiscounted expected future cash flows due solely to th e changes in the contractual benchmark interest rates on variable rate PCI securities will change the accretable yield prospectively. Significant increases in undiscounted expected future cash flows for reasons other than interest rate changes are recogniz ed 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) $ 36,196 Cash flows expected to be collected * 29,608 Recorded investment in acquired securities 19,907 * Represents undiscounted expect ed cash flows, including both principal and interes t . (in millions) June 30, 2017 December 31, 2016 Outstanding principal balance $ 15,568 $ 16,728 Amortized cost 11,105 11,987 Fair value 12,488 12,922 The following table presents activ ity for the accretable yield on PCI securities: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Balance, beginning of period $ 7,593 $ 6,622 $ 7,498 $ 6,846 Newly purchased PCI securities 13 245 101 451 Disposals - - (18) - Accretion (206) (209) (416) (423) Effect of changes in interest rate indices (135) 60 (114) (239) Net reclassification from (to) non-accretable difference, including effects of prepayments 200 325 414 408 Balance, end of period $ 7,465 $ 7,043 $ 7,465 $ 7,043 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. Our secured financing transactions also include those that involve the transfer of securities to financial institutions in exchange for cash (securities lending agree ments). In all of these secured financing transactions, the securities transferred by us (pledged collateral) may be sold or repledged 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 fa ir 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 our 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 securities lending ag reements: (in millions) June 30, 2017 December 31, 2016 Fixed maturity securities available for sale $ 2,520 $ 2,389 Other bond securities, at fair value $ 2,188 $ 1,799 At June 30, 2017 and December 31, 2016 , amounts borrowed under repurchase and securities lending agreements totaled $ 4.8 billion and $ 4.2 billion, respectively. The following table presents the fair value of securities pledged under our repurchase agreements by collateral type and by remaining contractual maturity: Remaining Contractual Maturity of the Agreements (in millions) Overnight and Continuous up to 30 days 31 - 90 days 91 - 364 days 365 days or greater Total June 30, 2017 Bonds available for sale: Non-U.S. governments $ - $ 14 $ 18 $ 13 $ - $ 45 Corporate debt - 17 23 16 - 56 Other bond securities: U.S. government and government sponsored entities 359 - - - - 359 Non-U.S. governments - - - - - - Corporate debt - 555 743 531 - 1,829 Total $ 359 $ 586 $ 784 $ 560 $ - $ 2,289 December 31, 2016 Other bond securities: Non-U.S. governments $ - $ - $ - $ 51 $ - $ 51 Corporate debt - 163 860 725 - 1,748 Total $ - $ 163 $ 860 $ 776 $ - $ 1,799 The following table presents the fair value of securities pledged under our securities lending agreements by collateral type and by remaining con tractual maturity: Remaining Contractual Maturity of the Agreements (in millions) Overnight and Continuous up to 30 days 31 - 90 days 91 - 364 days 365 days or greater Total June 30, 2017 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ - $ - $ - $ - $ - $ - Non-U.S. governments - 4 16 - - 20 Corporate debt - 589 1,421 389 - 2,399 CMBS - - - - - - Total $ - $ 593 $ 1,437 $ 389 $ - $ 2,419 December 31, 2016 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ - $ 21 $ - $ - $ - $ 21 Non-U.S. governments - - 50 - - 50 Corporate debt - 791 1,466 - - 2,257 CMBS - - 61 - - 61 Total $ - $ 812 $ 1,577 $ - $ - $ 2,389 We also enter into agreements in which securities are purchased by us under agreements t o 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 accr ued interest, other than those that are accounted for at fair value. In all reverse 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) June 30, 2017 December 31, 2016 Securities collateral pledged to us $ 3,463 $ 1,434 Amount sold or repledged by us $ 384 $ 11 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 $ 5.2 billion and $ 4.9 billion at June 30, 2017 and December 31, 2016 , 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 $ 119 million and $ 114 milli on of stock in FHLBs at June 30, 2017 and December 31, 2016 , respectively. In addition, our subsidiaries have pledged securities available for sale and residential loans associated with advances from FHLB, with a fair value of $ 3.1 billion and $ 116 million, respectively, at June 30, 2017 and $ 3.4 billion and $ 17 million, respecti vely, at December 31, 2016 , associated with advances from the FHLBs. Certain GIAs have provisions that require collateral to be posted or payments to be made by us upon a downgrade of our long-term debt ratings. The actual amount of collateral required to be posted to the counter parties in the event of such downgrades, and the aggregate amount of payments that we could be required to make, depend on market conditions, the fair value of outstanding affected transactions and other factors prevaili ng at and after the time of the downgrade. The fair value of securities pledged as collateral with respect to these obligations was approximately $ 2.1 billion and $ 2.2 billion at June 30, 2017 and December 31, 2016 , respectively. This collateral primarily consists of securities of the U.S. government and government sponsored entities and generally cannot be repledged or resold by the counterparties. Investments held in escrow accounts or otherwise subject to restr iction as to their use were $ 551 million and $ 523 million, comprised of bonds available for sale and short term investments at June 30, 2017 and December 31, 2016 , respectively.

LENDING ACTIVITIES

LENDING ACTIVITIES	6 Months Ended
	Jun. 30, 2017
LENDING ACTIVITIES
LENDING ACTIVITIES	7. Lending Activities The following table presents the composition of Mortgage and other loans receivable, net: June 30, December 31, (in millions) 2017 2016 Commercial mortgages * $ 26,749 $ 25,042 Residential mortgages 4,691 3,828 Life insurance policy loans 2,309 2,367 Commercial loans, other loans and notes receivable 1,200 2,300 Total mortgage and other loans receivable 34,949 33,537 Allowance for credit losses (307) (297) Mortgage and other loans receivable, net $ 34,642 $ 33,240 * Commercial mortgages primarily represent loans for office s , apartments and retail properties, with exposures in New York and California representing the largest geographic concentrations ( aggregating approximately 23 percent and 12 percent , respectively, at June 30, 2017 , and 24 percent and 12 percent , respectively, at December 31, 2016 ) . Credit Qua lity of Commercial Mortgages The following table presents debt service coverage ratios and loan-to-value ratios for commercial mortgages: Debt Service Coverage Ratios (a) (in millions) >1.20X 1.00X - 1.20X <1.00X Total June 30, 2017 Loan-to-Value Ratios (b) Less than 65% $ 16,662 $ 1,372 $ 247 $ 18,281 65% to 75% 5,813 554 62 6,429 76% to 80% 1,078 119 60 1,257 Greater than 80% 320 362 100 782 Total commercial mortgages $ 23,873 $ 2,407 $ 469 $ 26,749 December 31, 2016 Loan-to-Value Ratios (b) Less than 65% $ 13,998 $ 1,694 $ 232 $ 15,924 65% to 75% 5,946 575 62 6,583 76% to 80% 1,246 174 47 1,467 Greater than 80% 471 392 205 1,068 Total commercial mortgages $ 21,661 $ 2,835 $ 546 $ 25,042 ( a) The debt service coverage ratio compares a property’s net operating income to its debt service payments, including principal and interest. Our weighted average debt service coverage ratio was 2.0 X and 1.9 X at June 30, 2017 and December 31, 2016 , respectively. (b) The loan-to-value ratio compares the current unpaid principal balance of the loan to the estimated fair value of the underlying property collateralizing the loan. Our weigh ted average loan-to-value ratio was 58 percent at both June 30, 2017 , and December 31, 2016 . The following t able presents the credit quality performance indicators for commercial mortgag es : Number Percent of Class of (dollars in millions) Loans Apartments Offices Retail Industrial Hotel Others Total (c) Total $ June 30, 2017 Credit Quality Performance Indicator: In good standing 781 $ 6,717 $ 8,272 $ 5,149 $ 2,167 $ 2,378 $ 1,977 $ 26,660 100 % Restructured (a) 3 - 15 18 - 16 - 49 - 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure 2 - 40 - - - - 40 - Total (b) 786 $ 6,717 $ 8,327 $ 5,167 $ 2,167 $ 2,394 $ 1,977 $ 26,749 100 % Allowance for credit losses: Specific $ - $ 3 $ 31 $ - $ 1 $ - $ 35 - % General 49 71 35 9 12 15 191 1 Total allowance for credit losses $ 49 $ 74 $ 66 $ 9 $ 13 $ 15 $ 226 1 % December 31, 2016 Credit Quality Performance Indicator: In good standing 784 $ 6,005 $ 7,830 $ 5,179 $ 1,898 $ 2,373 $ 1,589 $ 24,874 99 % Restructured (a) 4 - 134 18 - 16 - 168 1 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 788 $ 6,005 $ 7,964 $ 5,197 $ 1,898 $ 2,389 $ 1,589 $ 25,042 100 % Allowance for credit losses: Specific $ - $ 3 $ 1 $ 6 $ 1 $ - $ 11 - % General 35 72 41 7 13 15 183 1 Total allowance for credit losses $ 35 $ 75 $ 42 $ 13 $ 14 $ 15 $ 194 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 2016 Annual Report. (b) Does not reflect a llowance for credit l osses . (c) 99.7 percent of the commercial mortgage s held at such respective dates were current as to payments of principal and interes t. There were no significant amounts of nonperforming commercial mortga ges (defined as those loans where payment of contractual principal or interest is mor e than 90 days past due) during any of the periods presented. Allowance for Credit Losses For a discussion of our accounting policy for evaluating Mortgage and other loans receivable for impairment see Note 7 to the Consolidated Financial Statements in the 2016 Annual Report The following table presents a rollforward of the changes in the allowance for losses on Mortgage and other loans receivable: 2017 2016 Six Months Ended June 30, Commercial Other Commercial Other (in millions) Mortgages Loans Total Mortgages Loans Total Allowance, beginning of year $ 194 $ 103 $ 297 $ 171 $ 137 $ 308 Loans charged off (5) (2) (7) (13) - (13) Recoveries of loans previously charged off - - - 11 - 11 Net charge-offs (5) (2) (7) (2) - (2) Provision for loan losses 37 (20) 17 29 (27) 2 Other - - - - - - Allowance, end of period $ 226 * $ 81 $ 307 $ 198 * $ 110 $ 308 * Of the total allowance , $ 35 million and $ 12 million relate to individually assessed credit losses on $ 289 million and $ 352 million of commercial mortgages at June 30, 2017 and 2016 , respectively. During the six -month periods ended June 30, 2017 and 2016 , loans with a car rying value of $ 21 million and $ 84 million, respectively, were modified in troubled debt restructurings.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	6 Months Ended
	Jun. 30, 2017
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES	8. 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 purp ose, 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 related risks the entity was designed to expose the variable interest holders to. The primary beneficiary is the entity that has both (1) the power to direct the activities of the VIE that most significantly affect the entity’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be po tentially significant to the VIE. While also considering these factors, the consolidation conclusion depends on the breadth of our decision-making ability and our ability to influence activities that significantly affect the economic performance of the VI E. 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 (e) Structured Investment Vehicle Affordable Housing Partnerships Other Total June 30, 2017 Assets: Bonds available for sale $ - $ 10,270 $ - $ - $ - $ 10,270 Other bond securities - 4,586 225 - 4 4,815 Mortgage and other loans receivable - 1,757 - - - 1,757 Other invested assets 1,138 243 - 3,083 26 4,490 Other (a) 224 1,174 101 446 86 2,031 Total assets (b) $ 1,362 $ 18,030 $ 326 $ 3,529 $ 116 $ 23,363 Liabilities: Long-term debt $ 529 $ 1,117 $ 61 $ 1,878 $ 5 $ 3,590 Other (c) 103 204 - 214 20 541 Total liabilities $ 632 $ 1,321 $ 61 $ 2,092 $ 25 $ 4,131 December 31, 2016 Assets: Bonds available for sale $ - $ 10,233 $ - $ - $ - $ 10,233 Other bond securities - 4,858 266 - 5 5,129 Mortgage and other loans receivable 1 1,442 - - 104 1,547 Other invested assets 1,052 321 - 2,821 28 4,222 Other (a) 365 1,104 50 384 92 1,995 Total assets (b) $ 1,418 $ 17,958 $ 316 $ 3,205 $ 229 $ 23,126 Liabilities: Long-term debt $ 444 $ 771 $ 56 $ 1,696 $ 6 $ 2,973 Other (c) 224 203 1 211 38 677 Total liabilities $ 668 $ 974 $ 57 $ 1,907 $ 44 $ 3,650 (a) Comprised primarily of Short-term investments and Other assets at June 30, 2017 and December 31, 2016 . (b) The assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other liabilities at June 30, 2017 and December 31, 2016 . (d) At June 30, 2017 and December 31, 2016 , off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $ 111 million and $ 106 million, respectively. (e) At June 30, 2017 and December 31, 2016 , $ 17.4 billion and $ 17.3 billion, respectively, of the total assets of consolidated securitization vehicles were owed to AIG Parent or its subsidiaries. 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 referenced obligation, and (iii) other commitments a nd 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 (b) Sheet Total June 30, 2017 Real estate and investment entities (a) $ 389,470 $ 10,230 $ 1,920 $ 12,150 Affordable housing partnerships 4,396 744 - 744 Other 2,324 275 1,181 (c) 1,456 Total $ 396,190 $ 11,249 $ 3,101 $ 14,350 December 31, 2016 Real estate and investment entities (a) $ 409,087 $ 11,015 $ 2,115 $ 13,130 Affordable housing partnerships 4,709 785 - 785 Other 2,869 314 1,045 (c) 1,359 Total $ 416,665 $ 12,114 $ 3,160 $ 15,274 (a) Comprised primarily of hedge funds and private equity funds. (b) At June 30, 2017 and December 31, 2016 , $ 10.8 billion and $ 11.7 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets. (c) 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. For additional information on VIEs see Note 10 to the Consolidated Financial Statements in the 2016 Annual Rep ort.

DERIVATIVES AND HEDGE ACCOUNTIN

DERIVATIVES AND HEDGE ACCOUNTING	6 Months Ended
	Jun. 30, 2017
DERIVATIVES AND HEDGE ACCOUNTING
DERIVATIVES AND HEDGE ACCOUNTING	9. 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. For a discussion of our accounting policies and procedures regarding derivatives and hedge accounting s ee Note 11 to the Consolidated Financial Statements in the 2016 Annual Report . Our businesses use derivatives and other instruments as part of the ir 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 liabilities. 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 additio n to hedging activities, we also enter into derivative instruments with respect 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 derivatives and the fair value of derivative assets and liabilities in the Condensed Consolidated Balance Sheets: June 30, 2017 December 31, 2016 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 $ - $ - $ 865 $ 10 $ 175 $ - $ 782 $ 11 Foreign exchange contracts 2,705 250 3,921 207 3,527 385 2,602 184 Equity contracts - - 141 - - - 113 7 Derivatives not designated as hedging instruments: (a) Interest rate contracts 55,656 2,359 21,381 1,891 51,030 2,328 44,211 3,066 Foreign exchange contracts 7,771 724 9,846 1,001 9,468 935 7,674 1,185 Equity contracts 14,895 529 8,727 43 14,060 305 8,633 12 Credit contracts (b) 3 2 801 295 4 2 861 331 Other contracts (c) 38,152 22 119 6 37,633 22 62 6 Total derivatives, gross $ 119,182 $ 3,886 $ 45,801 $ 3,453 $ 115,897 $ 3,977 $ 64,938 $ 4,802 Counterparty netting (d) (1,265) (1,265) (1,265) (1,265) Cash collateral (e) (1,625) (1,074) (903) (1,521) Total derivatives on condensed consolidated balance sheets (f) $ 996 $ 1,114 $ 1,809 $ 2,016 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b ) As of June 30, 2017 and December 31, 2016 , included CDSs on super senior multi-sector CDOs with a net notional amount of $ 750 million and $ 801 million (fair value liability of $ 280 million and $ 308 million), respectively. The expected weighted average maturity as of June 30, 2017 is six years. Because of long-term maturities of the 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 r epresents the maximum exposure to loss on the portfolio. As of June 30, 2017 and December 31, 2016 , there were no super senior corporate debt/CLOs remaining. (c) Consists primarily of stable value wraps and contracts with mu ltiple underlying exposures. (d) Represents netting of derivative exposures covered by a qualifying master netting agreement. (e) Represents cash collateral posted and received that is eligible for netting. (f) Freestanding derivatives only, excludes Embed ded derivatives. Derivative instrument assets and liabilities are recorded in Other Assets and Liabilities, respectively. Fair value of assets related to bifurcated Embedded derivatives was zero at both June 30, 2017 and December 31, 2 016. Fair value of liabilities related to bifurcated Embedded derivatives was $ 3.5 billion and $ 3.1 billion , respectively, at June 30, 2017 and December 31, 2016. A bifurcated Embedd ed derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets. Embedded derivatives are primarily related to guarantee features in variable annuity products, which include equity and interest rate components. Collateral We engage in derivative transactions that 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 en able collateral to be obtained from a counterparty on 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 gene rally requiring additional collateral to be posted upon 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 g ive the counterparty the right to terminate the transaction. 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 tr ansaction 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 ev ent of such downgrades, or the aggregate amount of payments 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 transactions was $ 2.8 billion and $ 4.5 billion at June 30, 2017 and December 31, 2016 , respectively. In the case of collateral poste d under derivative transactions that are not subject to clearing, this collateral can generally be repledged or resold by the counterparties. Collateral provided to us from third parties for derivative transactions was $ 1.7 billion and $ 1.5 billion at June 30, 2017 and December 31, 2016 , respectively. In the case of collateral provided to us under derivative transactions that are not subject to clearing, we generally can repledge or r esell 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 our 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 group, 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 entere d into with third parties as fair value hedges of available for sale investment 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 parties 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 forei gn 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 th at use derivatives as hedging instruments, we assess hedge effectiveness and measure hedge ineffectiveness using changes in forward rates. For the three - and six -month periods ended June 30, 2017 , we recognized los ses of $ 6 million and $ 48 million, respectively, and for the three - and six -month periods ended June 30, 2016 , we recognized losses of $ 4 million an d $ 9 million, respectively, included in Change in foreign currency translation adjustment in Other comprehensive income related to the net investment hedge relationships. A qualitative methodology is utilized to assess hedge effectiven ess 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 S tatements 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 June 30, 2017 Interest rate contracts : Realized capital gains/(losses) $ 3 $ (3) $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - - - - - Gain/(Loss) on extinguishment of debt - - - - - Foreign exchange contracts : Realized capital gains/(losses) (213) 232 - 19 - Interest credited to policyholder account balances - - - - - Other income - 3 - - 3 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts : Realized capital gains/(losses) (24) 24 - - - Three Months Ended June 30, 2016 Interest rate contracts : Realized capital gains/(losses) $ - $ - $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - 5 - - 5 Gain/(Loss) on extinguishment of debt - - - - - Foreign exchange contracts : Realized capital gains/(losses) 389 (345) - 43 1 Interest credited to policyholder account balances - - - - - Other income - 5 - - 5 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts : Realized capital gains/(losses) 10 (7) - 3 - Six Months Ended June 30, 2017 Interest rate contracts : Realized capital gains/(losses) $ 2 $ (2) $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - - - - - Gain/(Loss) on extinguishment of debt - - - - - Foreign exchange contracts : Realized capital gains/(losses) (161) 190 - 29 - Interest credited to policyholder account balances - - - - - Other income - 4 - - 4 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts : Realized capital gains/(losses) (26) 24 - (2) - Six Months Ended June 30, 2016 Interest rate contracts : Realized capital gains/(losses) $ 1 $ (7) $ - $ - $ (6) Interest credited to policyholder account balances - - - - - Other income - 7 - - 7 Gain/(Loss) on extinguishment of debt - - - - - Foreign exchange contracts : Realized capital gains/(losses) 423 (409) - 14 - Interest credited to policyholder account balances - - - - - Other income - 12 - - 12 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts : Realized capital gains/(losses) 20 (19) - 1 - (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 pr eviously-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 Cons olidated Statement s of Income : Gains (Losses) Recognized in Earnings Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 By Derivative Type: Interest rate contracts $ 251 $ 603 $ 99 $ 1,373 Foreign exchange contracts (76) 182 (122) 154 Equity contracts (176) (141) (490) (272) Commodity contracts - - - - Credit contracts 21 28 36 34 Other contracts 18 20 36 36 Embedded derivatives (259) (513) (113) (1,285) Total $ (221) $ 179 $ (554) $ 40 By Classification: Policy fees $ 19 $ 20 $ 39 $ 40 Net investment income (5) 13 (7) 12 Net realized capital gains (losses) (316) 123 (700) 88 Other income (losses) 80 18 113 (112) Policyholder benefits and claims incurred 1 5 1 12 Total $ (221) $ 179 $ (554) $ 40 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 June 30, 2017 and December 31, 2016 , was approximately $ 1.7 billion and $ 3.0 billion, respectively. The aggregate fair value of assets posted as collateral under these contracts at June 30, 2017 and December 31, 2016 , was approximately $ 2.2 billion and $ 4.0 billion, respectively. We estimate that at June 30, 2017 , based on our outstanding financial derivative transactions, a downgrade of our long-term s enior debt ratings to BBB or BBB– by Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc., and/or a downgrade to Baa2 or Baa3 by Moody’s Investors’ Service, Inc. would permit counterparties to make additional collateral calls and permi t certain counterparties to elect early termination of contracts, resulting in corresponding collateral postings and termination payments in the total amount of up to approximately $ 83 million. 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 June 30, 2017 . Factors considered in estimating the termination payments upon downgrade inc lude current market conditions and the terms of the respective CSA provisions. Our estimates are also based on the assumption that counterparties will terminate based on their net exposure to us. The actual termination payments could differ from our estima tes given market 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 recogniz ed 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 $ 4.5 billion and $ 4.8 billion at June 30, 2017 and December 31, 2016 , respectively . These securities have par amounts of $ 9.6 billion and $ 10.1 billion at June 30, 2017 and December 31, 2016 , respectively, and have remaining stated maturit y dates that extend to 2052.

INSURANCE LIABILITIES

INSURANCE LIABILITIES	6 Months Ended
	Jun. 30, 2017
LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS
LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS	10. Insurance Liabilities Liability for Unpaid Losses and Loss Adjustment Expense s (Loss Reserves) Loss reserves represent the accumulation of estimates of unpaid claims, including estimates for claims incurred but not reported (IBNR) and loss adjustment expenses ( LAE ), less applicable discount. We regularly review and update the methods used to determine loss reserve estimates. Any adjustments resulting from this review are reflected currently in pre-tax income. Because these estimates are subject to the outcome of future events, changes in estimates are common given that loss trends vary and time is often required for changes in trends to be recognized and confirmed. Reserve changes that increase previous estimates of ultimate cost are ref erred to as unfavorable or adverse development or reserve strengthening. Reserve changes that decrease previous estimates of ultimate cost are referred to as favorable development. Our gross loss reserves before reinsurance and discount are net of contract ual deductible recoverable amounts due from policyholders of approximately $ 12.7 billion and $12.8 billion at June 30, 2017 and December 31, 2016 , respectively . These recoverable amounts are related to certain policies with high deductibles (in excess of high dollar amounts retained by the insured through self-insured retentions, deductibles, retrospective programs, or captive arrangements, each referred to generically as “deductibles”), primarily fo r U.S. commercial casualty business. With respect to the deductible portion of the claim, we manage and pay the entire claim on behalf of the insured and are reimbursed by the insured for the deductible portion of the claim. Thus, these recoverable amount s represent a credit exposure to us. At June 30, 2017 and December 31, 2016 , we held collateral of approximately $ 9.9 billion and $ 9.7 billion, respectively, for these deduc tible recoverable amounts, consisting primarily of letters of credit and funded trust agreements. The following table presents the roll forward of activity in Loss Reserves: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 76,050 $ 73,946 $ 77,077 $ 74,942 Reinsurance recoverable (26,920) (14,212) (15,532) (14,339) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 49,130 59,734 61,545 60,603 Foreign exchange effect 463 360 358 200 Dispositions (a) - - - - Retroactive reinsurance adjustment (net of discount) (b) (299) - (11,460) - Total 49,294 60,094 50,443 60,803 Losses and loss adjustment expenses incurred : Current year 4,209 5,023 8,510 9,935 Prior years, excluding discount and amortization of deferred gain 391 6 453 (60) Prior years, discount charge (benefit) 260 300 235 291 Prior years, amortization of deferred gain on retroactive reinsurance (c) (82) - (120) - Total losses and loss adjustment expenses incurred 4,778 5,329 9,078 10,166 Losses and loss adjustment expenses paid : Current year (1,137) (2,378) (1,708) (2,958) Prior years (4,252) (3,423) (9,043) (8,389) Total losses and loss adjustment expenses paid (5,389) (5,801) (10,751) (11,347) Reclassified to liabilities held for sale (d) 79 - (8) - Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 48,762 59,622 48,762 59,622 Reinsurance recoverable 27,660 14,520 27,660 14,520 Total $ 76,422 $ 74,142 $ 76,422 $ 74,142 (a) Includes amounts related to dispositions through the date of disposition. Includes sale of UGC and Ascot. (b) Includes discount on retroactive reinsurance in the amount of $108 million and $1.5 billion for the three - and six-month periods ended June 3 0 , 2017, respectively . (c) Includes $10 million and $5 million for the 2011 retroactive reinsurance agreement with NICO covering U.S. asbestos exposures for the three - and six-month periods ended June 3 0 , 2017, respectively . ( d) Represents change in loss reserves included in our pending sale of certain of our insurance operations to Fairfax for the three - and six-month periods ended June 3 0 , 2017. Upon consummation of the sale, we may retain a portion of these reserves through reinsurance arrangements. On January 20, 2017, we entered into an adverse development reinsurance agreement with National Indemnity Company (NICO) , a subsidiary of Berkshire, under which we transferred to NICO 80 percent of the reserve risk on substantially all of our U.S. Commercial long-tail exposures for accident years 2015 and prior. Under this agreement, we ceded to NICO 80 percent of the paid losses on subject business paid on or after January 1, 2016 in excess of $25 billion of net paid losses, up to an aggregate limit of $25 billion. At NICO’s 80 percent share, NICO’s limit of liability under the contract is $20 billion. We account for this transaction as retroactive reinsurance. We paid total consideration, including interest, of $10.2 billion. The consideration was placed into a collateral trust account as security for NICO’s claim payment obligations, and Berkshire has provided a parental guarantee to secure the obligations of NICO under the agreement. On June 14, 2017, a catastrophic fire occurred at Grenfell Tower, a 24-story residential housing block in London, UK, resulting in damage to the property and loss of lives. Our net exposure to loss on this event is currently not estimable as the forensic investigation is incomplete and the list of potential insureds (and any potential liability) is unclear. There may also be other policyholders involved as the matter evolves. Discounting of Loss Reserves At June 30, 2017 , the loss reserves reflect a net loss reserve discount of $ 1.8 billion, including tabular and non-tabular calculations based upon the following assumptions: Certain asbestos claims are discounted when allowed by the regulator and when payments are fixed and determinable, based on the investment yields of the companies and the payout pattern for the claims. At December 31, 2016, the discount for asbestos reserves was f ully amortized. The tabular workers’ compensation discount is calculated based on a 3.5 percent interest rate and the mortality rate used in the 2007 U.S. Life Table. The non-tabular workers’ compensation discount is calculated se parately for companies domiciled in New York and Pennsylvania, and follows the statutory regulations (prescribed or permitted) for each state. For New York companies, the discount is based on a 5 percent interest rate and the comp anies’ own payout patterns. In 2012, for Pennsylvania companies, the statute has specified discount factors for accident years 2001 and prior, which are based on a 6 percent interest rate and an industry payout pattern. For accide nt years 2002 and subsequent, the discount is based on the payout patterns and investment yields of the companies. In 2013, our Pennsylvania regulator approved use of a consistent discount rate (U.S. Treasury rate plus a liquidity premium) to all of our w orkers’ compensation reserves in our Pennsylvania-domiciled companies, as well as our use of updated payout patterns specific to our primary and excess workers compensation portfolios. In the fourth quarter of 2016, our Pennsylvania and Delaware regulato rs approved an updated discount rate that we applied to our workers’ compensation loss reserves for the legal entities domiciled in those states. The discount consists of $ 491 million of tabular discount and $ 1.3 billion of non-tabular discount for workers’ compensation. During the six -month periods ended June 30, 2017 and 2016 , the charge from changes in discount of $235 million and $ 289 million, respectively, were recorded as part of the policyholder benefits and losses incurred in the Condensed Consolidated Statement of Income. For the six -month period ended June 30, 2017 , the discount on workers’ compensation res erves decreased by $ 1.5 billion due to the impact of the adverse development reinsurance agreement with NICO. During the six-month period ended June 30, 2017, the forward yield curve component of the discount rates decreased which resulted in a $ 132 million decrease in the loss reserve discount. In addition, there was a $ 164 million reduction for accident years 2016 and prior, primarily from accretion of discount on reserves for the first six months of 2017 . This increase was partially offset by newly established reserves for accident year 2017 , which increased the discount by $ 61 million. During the six-month period ended June 30, 2016, th e forward yield curve component of the discount rates decreased which resulted in a $ 281 million decrease in the loss reserve discount. In addition, there was an $ 89 million reduction for accident years 2015 and prior, primarily from accretion of discount on reserves for the six-month period ended June 30, 2016 . This increase was partially offset by newly established reserves for accident year 2016 , which increased the discount by $ 81 million. The following table prese nts the components of the loss reserve discount discussed above: June 30, 2017 December 31, 2016 Legacy Portfolio Legacy Portfolio U.S. Liability - Property and U.S. Liability - Property and and Casualty run-off and Casualty run-off (in millions) Financial Lines Insurance Lines Total Financial Lines Insurance Lines Total U.S. workers' compensation $ 2,450 $ 885 $ 3,335 $ 2,583 $ 987 $ 3,570 Retroactive reinsurance (1,547) - (1,547) - - - Total reserve discount * $ 903 $ 885 $ 1,788 $ 2,583 $ 987 $ 3,570 * Excludes $ 185 million and $181 million of discount related to certain long tail liabilities in the United Kingdom at June 30, 2017 and December 31, 2016, respecti vely. The following table s present increase (decrease) in the net loss reserve discount : Three Months Ended June 30, 2017 2016 Legacy Portfolio Legacy Portfolio U.S. Liability - Property and U.S. Liability - Property and and Casualty run-off and Casualty run-off (in millions) Financial Lines Insurance Lines Total Financial Lines Insurance Lines Total Current accident year $ 29 $ - $ 29 $ 33 $ - $ 33 Accretion and other adjustments to prior year discount (57) (43) (100) (47) (16) (63) Effect of interest rate changes (128) (61) (189) (177) (93) (270) Net reserve discount benefit (charge) (156) (104) (260) (191) (109) (300) Change in discount on loss reserves ceded under retroactive reinsurance (a) 108 - 108 - - - Net change in total reserve discount (b) $ (48) $ (104) $ (152) $ (191) $ (109) $ (300) Comprised of: U.S. Workers' compensation $ (48) $ (104) $ (152) $ (191) $ (108) $ (299) Asbestos $ - $ - $ - $ - $ (1) $ (1) Six Months Ended June 30, 2017 2016 Legacy Portfolio Legacy Portfolio U.S. Liability - Property and U.S. Liability - Property and and Casualty run-off and Casualty run-off (in millions) Financial Lines Insurance Lines Total Financial Lines Insurance Lines Total Current accident year $ 61 $ - $ 61 $ 81 $ - $ 81 Accretion and other adjustments to prior year discount (105) (59) (164) (61) (30) (91) Effect of interest rate changes (89) (43) (132) (185) (96) (281) Net reserve discount benefit (charge) (133) (102) (235) (165) (126) (291) Change in discount on loss reserves ceded under retroactive reinsurance (1,547) - (1,547) - - - Net change in total reserve discount (c) $ (1,680) $ (102) $ (1,782) $ (165) $ (126) $ (291) Comprised of: U.S. Workers' compensation $ (1,680) $ (102) $ (1,782) $ (165) $ (124) $ (289) Asbestos $ - $ - $ - $ - $ (2) $ (2) (a) Included in the deferred gain from retroactive reinsurance reported in other liabilities. ( b ) Excludes $4 million and $(42) million of discount related to certain long tail liabilities in the United Kingdom for the three-month period ended June 30, 2017 and 2016, respectively. ( c ) Excludes $(4) million and $(15) million of discount related to certain long tail liabilities in the United Kingdom for the six-month period ended June 30, 2017 and 2016, respectively.

CONTINGENCIES, COMMITMENTS AND

CONTINGENCIES, COMMITMENTS AND GUARANTEES	6 Months Ended
	Jun. 30, 2017
CONTINGENCIES, COMMITMENTS AND GUARANTEES
CONTINGENCIES, COMMITMENTS AND GUARANTEES	11. 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 consolidate d financial condition 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 f inancial services industries in general, subject to litigation, including claims for punitive damages. In our insurance operations, litigation arising from claims settlement activities is generally considered in the establishment of our loss reserves. Howe ver, 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 asserted by its shareholders and others alleging, among oth er 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 brought 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 o f 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 Portfoli o 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 various actions relating to our exposure to the U.S. resid ential 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 Exposu re 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 agains t 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 of New York (SDNY) 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), and claims under the Securities Act of 1933, as amended (the Securities Act), for alle gedly 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 Exposure Issues. In 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 paid the settlement amount of $ 960 million. On March 20, 2015, the Court issued an Order and Final Judgment approving the clas s settlement and dismissing the action with prejudice, and the AIG settlement became final 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 in or transferred to the SDNY, asserting claims substantially similar to those in the Consolidated 2008 Securities Litigation against AIG and certain directors and officers of AIG and AIGFP. Two of the actions were volunt arily dismissed. On September 10, 2015, the SDNY granted AIG’s motion to dismiss some of the claims in the Individual Securities Litigations in whole or in part. AIG has settled eight of the nine remaining actions. The remaining Individual Securities Litig ation pending in the SDNY was brought by a series of institutional investor funds. After the court’s decision granting AIG’s motion to dismiss plaintiff’s claims in part, the claims in the remaining action are limited to a claim under Section 10(b) of the Exchange Act for allegedly materially false and misleading statements in AIG’s public disclosures from February 8, 2008 to September 16, 2008 relating to, among other things, the Subprime Exposure Issues. On January 17, 2017, AIG filed a motion for summary judgment to dismiss the vast majority of the institutional investor funds’ remaining claims and a motion to stay the action pending the resolution of this motion. AIG appealed a March 9, 2017 decision by the magistrate judge, denying AIG’s motion to stay. The appeal was denied on May 24, 2017 . 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 su bstantially similar to those in the Consolidated 2008 Securities Litigation and the Individual Securities Litigations. After denying AIG’s motion to remove th e California Action to federal court and stay the action, the trial court overruled AIG’s demurrer to dismiss all of the claims asserted in the California Action, which AIG appealed to the California Court of Appeals for the Fourth Appellate District. In light of a recent Supreme Court decision addressing the timeliness of claims like those a sserted in the California Action , plaintiffs filed a voluntary request for dismissal on June 30, 2017 , which has the same effect as a judgment of dismissal . On July 18, 2017 , the California Court of Appeals for the Fourth Appellate District dismissed AIG’s appeal as moot . We have accrued our current estimate of probable loss with respect to these litigations. Starr International Litigation On November 21, 2011, Starr Inte rnational 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 below 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 facility, 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 equity was discriminatory, unprece dented, 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 Treasury Action, the only claims na ming 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 pursue the claims on our behalf. On J anuary 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 SICO’s demand and stating the reas ons 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 AIG’s and the United States’ moti ons 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 Court 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 sh ares 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 meeting of shareholders (the Revers e 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 eithe r 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. The Court found that the United St ates 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 stock 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, but shall recover zero damages, an d 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 dismissal 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 par t 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 States Court of Appeals for the Feder al Circuit. On May 9, 2017, the Court of Appeals for the Federal Circuit: (i) vacated the Court of Federal Claims judgment on the Credit Agreement Shareholder Class and remanded with instructions f or dismissal of that class , and (i i) affirmed the finding of no liability with respect to the Reverse Stock Split Cla ss . In the Court of Federal Claims, the United States has alleged, as an affirmative defense in its answer, that AIG is obligated to indemnify the FRBNY and its representatives, including the Feder al Reserve Board of Governors and the United States (as the FRBNY’s principal), for any recovery in the SICO Treasury Action. AIG believes that any indemnification obligation would arise only if: (a) SICO prevails on its appeal and ultimately receives an a ward of damages; (b) the United States then commences an action against AIG seeking indemnification; and (c) the United States is successful in such an action through any appellate process. If SICO prevails on its claims and the United States seeks indemni fication from AIG, AIG intends to assert defenses thereto. A reversal of the Court of Federal Claim’s June 17, 2015 decision and judgment and a final determination that the United States is liable for damages, together with a final determination that AIG i s obligated to indemnify the United States for any such damages, could have a material adverse effect on our business, consolidated financial condition and results of operations. Regulatory and Related Matters In connection with a multi -state examination o f 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 Union, 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. Under the agreement, an d 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 standards for evaluat ing 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 p lan. On May 23, 2016, the managing lead state in the multi-state examination ordered that the companies subject to the Regulatory Settlement Agreement have “complied with the terms” of the Regulatory Settlement Agreement and that no contingent fine or civi l penalty would be due. On April 27, 2017, a court granted final approval of the settlement of civil litigation relating to the conduct of National Union’s and other AIG companies’ accident and health business. The deadline to appeal the grant of final a pproval has now expired, and the settlement funds, previously placed into escrow, will now be disbursed. We had previously accrued our estimate of loss with respect to this settlement. Other Commitments In the normal course of business, we enter into commitments to invest in limited partnerships, private equity funds and hedge funds and to purchase and develop real estate in the U.S. and abroad. These commitments totaled $ 3.0 billion at June 30, 2017 . 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 Ma rkets 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 structured leasing t ransactions 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 June 30, 2017 was $ 139 mil lion. 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 pay ments 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 from the standb y 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 transactions are generall y economically defeased, lessee bankruptcy is the most likely circumstance in which AIGFP would be required to pay without reimbursement. AIG Parent files a consolidated federal income tax return with certain subsidiaries and acts as an agent for the conso lidated tax group when making payments to the Internal Revenue Service (IRS). AIG Parent and its subsidiaries have adopted, pursuant to a written agreement, a method of allocating consolidated federal income taxes. Under an Amended and Restated Tax Payment Allocation Agreement dated June 6, 2011 between AIG Parent and one of its Bermuda-domiciled insurance subsidiaries, AIG Life of Bermuda, Ltd. (AIGB), AIG Parent has agreed to indemnify AIGB for any tax liability (including interest and penalties) resultin g from adjustments made by the IRS or other appropriate authorities to taxable income, special deductions or credits in connection with investments made by AIGB in certain affiliated entities. Asset Dispositions We are subject to financial guarantees and i ndemnity 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 contingencie s, the realization of contingent 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 o f law, such as statutes of 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 t he maximum potential payout 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 arrangemen ts have been recorded in the Condensed Consolidated Balance Sheets. Other For additional discussion on commitments and guarantees associated with VIEs see Note 8 to the Condensed Co nsolidated Financial Statements. For additional disclosures about der ivatives see Note 9 to the Condensed Consolidated Financial Statements. For additional disclosures about guarantees of outstanding debt see Note 16 to the Condensed Consolidated Financial Statements

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2017
EQUITY
EQUITY	12. Equity Shares Outstanding The following table presents a rollforward of outstand ing shares : Six Months Ended June 30, 2017 Common Treasury Common Stock Stock Issued Stock Outstanding Shares, beginning of year 1,906,671,492 (911,335,651) 995,335,841 Shares issued - 3,189,425 3,189,425 Shares repurchased - (95,132,646) (95,132,646) Shares, end of period 1,906,671,492 (1,003,278,872) 903,392,620 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 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 capital resources av ailable 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 standards for ca pital and capital distributions, and such other factors as our Board of Directors may deem relevant. The following table presents record date, payment date and dividends paid per share on AIG Common Stock: Dividends Paid Record Date Payment Date Per Share June 14, 2017 June 28, 2017 0.32 March 15, 2017 March 29, 2017 0.32 June 13, 2016 June 27, 2016 0.32 March 14, 2016 March 28, 2016 0.32 For a discussion of restrictions on payments of dividends to AIG Parent by its subsidiaries see Note 19 to the Consolidated Financial Statements in the 2016 Annual Report . Repurchase of AIG Common Stock The following table presents repurchases of AIG Common Stock and warrants to purchase shares of AIG Common Stock: Six Months Ended June 30, (in millions) 2017 2016 Aggregate repurchases of common stock $ 6,000 $ 6,248 Total number of common shares repurchased 95 113 Aggregate repurchases of warrants $ - $ 263 Total number of warrants repurchased - 15 Our Board of Directors has authorized the repurchase of shares of AIG Common Stock through a series of actions. On May 3, 2017, our Board of Directors authorized an additional increase of $ 2.5 billion to its previous share repurchase authorization. As of June 30, 2017 , approximately $ 2.5 billion remained under 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 (including through the purchase of warrants) . Certain of our share repurchases have been and may from time to time be effected through Exchange Act Rule 10b5-1 repurchase plans. The timing of any future repurchases will depend on market conditions, our business and strategic plans, financial condition, results of operations, liquidity and other factors. Accumulated Other Comprehensive Income The following table presents a rollforward of Accumulated other comprehensive income : Unrealized Appreciation (Depreciation) of Fixed Maturity Securities 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, 2016, net of tax $ 426 $ 6,405 $ (2,629) $ (972) $ 3,230 Change in unrealized appreciation of investments 341 2,838 - - 3,179 Change in deferred policy acquisition costs adjustment and other * 17 (998) - - (981) Change in future policy benefits - (539) - - (539) Change in foreign currency translation adjustments - - 146 - 146 Change in net actuarial loss - - - 38 38 Change in prior service cost - - - 6 6 Change in deferred tax asset (liability) (125) 47 (24) (15) (117) Total other comprehensive income 233 1,348 122 29 1,732 Noncontrolling interests - - - - - Balance, June 30, 2017, net of tax $ 659 $ 7,753 $ (2,507) $ (943) $ 4,962 Balance, December 31, 2015, net of tax $ 696 $ 5,566 $ (2,879) $ (846) $ 2,537 Change in unrealized appreciation (depreciation) of investments (491) 9,499 - - 9,008 Change in deferred policy acquisition costs adjustment and other (8) (682) - - (690) Change in future policy benefits - (1,583) - - (1,583) Change in foreign currency translation adjustments - - 158 - 158 Change in net actuarial loss - - - 11 11 Change in prior service credit - - - (13) (13) Change in deferred tax asset (liability) 172 (1,398) 63 (6) (1,169) Total other comprehensive income (loss) (327) 5,836 221 (8) 5,722 Noncontrolling interests - - - - - Balance, June 30, 2016, net of tax $ 369 $ 11,402 $ (2,658) $ (854) $ 8,259 * In cludes net unrealized gains attributable to businesses held for sale. The following table presents the other comprehensive income reclassification adjustments for the three - and six - month periods ended June 30, 2017 and 2016 , respectively : Unrealized Appreciation (Depreciation) of Fixed Maturity Securities 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 June 30, 2017 Unrealized change arising during period $ 203 $ 944 $ 450 $ 6 $ 1,603 Less: Reclassification adjustments included in net income 20 285 - (10) 295 Total other comprehensive income, before income tax expense 183 659 450 16 1,308 Less: Income tax expense 64 6 52 5 127 Total other comprehensive income, net of income tax expense $ 119 $ 653 $ 398 $ 11 $ 1,181 Three Months Ended June 30, 2016 Unrealized change arising during period $ 59 $ 4,277 $ 290 $ (11) $ 4,615 Less: Reclassification adjustments included in net income 25 1,038 - (4) 1,059 Total other comprehensive income (loss), before income tax expense (benefit) 34 3,239 290 (7) 3,556 Less: Income tax expense (benefit) 12 830 (23) 3 822 Total other comprehensive income (loss), net of income tax expense (benefit) $ 22 $ 2,409 $ 313 $ (10) $ 2,734 Six Months Ended June 30, 2017 Unrealized change arising during period $ 393 $ 1,779 $ 146 $ 24 $ 2,342 Less: Reclassification adjustments included in net income 35 478 - (20) 493 Total other comprehensive income, before income tax expense (benefit) 358 1,301 146 44 1,849 Less: Income tax expense (benefit) 125 (47) 24 15 117 Total other comprehensive income, net of income tax expense (benefit) $ 233 $ 1,348 $ 122 $ 29 $ 1,732 Six Months Ended June 30, 2016 Unrealized change arising during period $ (399) $ 7,917 $ 158 $ (10) $ 7,666 Less: Reclassification adjustments included in net income 100 683 - (8) 775 Total other comprehensive income (loss), before income tax expense (benefit) (499) 7,234 158 (2) 6,891 Less: Income tax expense (benefit) (172) 1,398 (63) 6 1,169 Total other comprehensive income (loss), net of income tax expense (benefit) $ (327) $ 5,836 $ 221 $ (8) $ 5,722 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: Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income Three Months Ended June 30, (in millions) 2017 2016 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 20 $ 25 Other realized capital gains Total 20 25 Unrealized appreciation (depreciation) of all other investments Investments 227 1,074 Other realized capital gains Deferred acquisition costs adjustment 58 (36) Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 285 1,038 Change in retirement plan liabilities adjustment Prior - service credit 1 5 * Actuarial losses (11) (9) * Total (10) (4) Total reclassifications for the period $ 295 $ 1,059 Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income Six Months Ended June 30, (in millions) 2017 2016 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 35 $ 100 Other realized capital gains Total 35 100 Unrealized appreciation (depreciation) of all other investments Investments 367 661 Other realized capital gains Deferred acquisition costs adjustment 111 22 Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 478 683 Change in retirement plan liabilities adjustment Prior - service credit 1 9 * Actuarial losses (21) (17) * Total (20) (8) - Total reclassifications for the period $ 493 $ 775 - * These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 14 to the Condensed Consolidated Financial Statements .

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)	6 Months Ended
	Jun. 30, 2017
EARNINGS PER SHARE (EPS)
EARNINGS PER SHARE (EPS)	13. 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 d iluted 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 compu tation of basic and diluted EPS: Three Months Ended Six Months Ended June 30, June 30, (dollars in millions, except per share data) 2017 2016 2017 2016 Numerator for EPS: Income from continuing operations $ 1,110 $ 1,934 $ 2,321 $ 1,778 Less: Net income (loss) from continuing operations attributable to noncontrolling interests (12) 11 14 (9) Income attributable to AIG common shareholders from continuing operations 1,122 1,923 2,307 1,787 Income (loss) from discontinued operations, net of income tax expense 8 (10) 8 (57) Net income attributable to AIG common shareholders 1,130 1,913 2,315 1,730 Denominator for EPS: Weighted average shares outstanding - basic 925,751,084 1,113,587,927 953,109,915 1,135,068,193 Dilutive shares 22,497,687 26,458,046 23,517,737 28,021,555 Weighted average shares outstanding - diluted * 948,248,771 1,140,045,973 976,627,652 1,163,089,748 Income per common share attributable to AIG: Basic: Income from continuing operations $ 1.21 $ 1.73 $ 2.42 $ 1.57 Income (loss) from discontinued operations $ 0.01 $ (0.01) $ 0.01 $ (0.05) Net income attributable to AIG $ 1.22 $ 1.72 $ 2.43 $ 1.52 Diluted: Income from continuing operations $ 1.18 $ 1.69 $ 2.36 $ 1.54 Income (loss) from discontinued operations $ 0.01 $ (0.01) $ 0.01 $ (0.05) Net income attributable to AIG $ 1.19 $ 1.68 $ 2.37 $ 1.49 * 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 1.9 million and 1.8 mi llion for the three - and six - m onth periods ended June 30, 2017 , respectively, and 0.1 million and 0.3 mi llion for the three - and six - month periods end ed June 30, 2016 , respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	6 Months Ended
	Jun. 30, 2017
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS	14. Employee Benefits We sponsor various defined benefit pension plans, post-retirement medical and life insurance plans for eligible employees and retirees in the U.S. and certain non-U.S. countries. 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 June 30, 2017 Components of net periodic benefit cost: Service cost $ 7 $ 8 $ 15 $ 1 $ - $ 1 Interest cost 42 4 46 1 1 2 Expected return on assets (64) (6) (70) - - - Amortization of prior service credit - - - (1) - (1) Amortization of net (gain) loss 7 3 10 - - - Curtailment loss - - - - - - Net periodic benefit cost (credit) $ (8) $ 9 $ 1 $ 1 $ 1 $ 2 Three Months Ended June 30, 2016 Components of net periodic benefit cost: Service cost $ 5 $ 7 $ 12 $ - $ 1 $ 1 Interest cost 45 5 50 2 1 3 Expected return on assets (74) (6) (80) - - - Amortization of prior service credit - - - (3) - (3) Amortization of net loss 6 2 8 - - - Curtailment gain - (1) (1) - - - Net periodic benefit cost (credit) $ (18) $ 7 $ (11) $ (1) $ 2 $ 1 Six Months Ended June 30, 2017 Components of net periodic benefit cost: Service cost $ 13 $ 16 $ 29 $ 1 $ 1 $ 2 Interest cost 85 8 93 3 2 5 Expected return on assets (128) (12) (140) - - - Amortization of prior service credit - - - (1) - (1) Amortization of net (gain) loss 14 6 20 - - - Curtailment loss - - - - - - Net periodic benefit cost (credit) $ (16) $ 18 $ 2 $ 3 $ 3 $ 6 Six Months Ended June 30, 2016 Components of net periodic benefit cost: Service cost $ 9 $ 15 $ 24 $ 1 $ 2 $ 3 Interest cost 91 10 101 3 2 5 Expected return on assets (147) (13) (160) - - - Amortization of prior service credit - - - (5) - (5) Amortization of net loss 12 4 16 - - - Curtailment gain - (3) (3) - - - Net periodic benefit cost (credit) $ (35) $ 13 $ (22) $ (1) $ 4 $ 3

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2017
INCOME TAXES
INCOME TAXES	15. 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 June 30, 2017 , the effective tax rate on income from conti nuing operations was 33.4 percent . The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benef its associated with tax exempt inco me an d reclassifications from accumulated other comprehensive income to income from continuing operations related to the disposal of available for sale securities , partially offset by tax charges related to increases in uncertain tax positions associated with t he impact of settlement discussions with the IRS related to certain open tax issues. For the six -month period ended June 30, 2017 , the effective tax rate on income from continuing operations was 31.6 percent . The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benef its associated with tax exempt inco me, reclassifications from accumulated other comprehensiv e income to income from continuing operations related to the disposal of available for sale securities and excess tax deductions related to share based compensation payments recorded through the income statement in accordance with ASU 2016-09 , partially of fset by tax charges related to increases in uncertain tax positions associated with the impact of settlement discussions with the IRS related to certain open tax issues . For the three -month period ended June 30, 2016 , the effec tive tax rate on income from continuing operations was 32.3 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits as sociated with tax exempt interest income and reclassifications from accumulated other comprehensive income to income from continuing operations related to the disposal of available for sale securities, partially offset by increases in the deferred tax asse t valuation allowances associated with certain foreign jurisdictions. For the six -month period ended June 30, 2016 , the effective tax rate on income from continuing operations was 32.8 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits associated with tax exempt interest income, the impact of an agreement reached with the IRS related to certain tax issues under audit and reclassifications from accumulated other comprehensive income to income from continuing operations related to the disposal of available for sale securities, partially offset by a tax charge and related interest associated with increases in uncertain tax positions related to cross border financing transactions . 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 u s to weigh all positive and negative evidence 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 defe rred tax asset requires us to consider all 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 taxa ble temporary differences; and prudent 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 a sset under this framework, we consider 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 its 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 a nd non-life companies. While the U.S. taxable 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. taxable income of our life companies can be offset by those net oper ating 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 r ealize our tax attributes prior to expiration. As of June 30, 2017 , 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 a nd, thus, no valuation allowance has been 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 c onsider 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. For the three - and six -month period s ended June 30, 2017 , recent changes in market conditions, including interest rate fluctuations, impacted the unrealized tax gains and losses in the U.S. Life Insurance Companies’ available for sa le securities portfolio, resulting in a decrease to the net deferred tax asset related to net unrealized tax capit al losses. Accordingly, as of June 30, 2017, based on all available evidence, we concluded that the valuation allowance should be released. As a result, for the three - and six -month period s ended June 30, 2017 , we released $ 214 million and $ 468 m illion , respectively, of valuation allowance associated with the unrealized tax losses in the U.S. Life Insurance Companies ’ available for sale securities portfolio , all of which was allocated to other comprehensive income. For the three - and six -month pe riod s ended June 30, 2017 , recent changes in market conditions , including interest rate fluctuations , impacted the unrealized tax gains and losses in the non-life companies’ available for sale securities portfolio, resulting in a decrea se to the net deferred tax asset related to net unrealized tax capital losses. Accordingly, as of June 30, 2017, based on all available evidence, we concluded that the valuation allowance should be released. As a result, for the three - and six -month period s ended June 30, 2017 , we released $ 140 million and $ 260 million , respectively, of valuation allowance associated with t he unrealized tax losses in the non-life companies’ available for sale securities portfolio, all of which was recognized in other comprehensive income. As of June 30, 2017 , based on all available evidence, we concluded that the deferre d tax asset related to unrealized losses is more likely than not to be realized and a valuation allowance is no longer needed. For the three - and six -month period s ended June 30, 2017 , we recognized net de crease s of $ 8 million and $ 23 million , respectively, in our deferred tax asset valuation allowance associated with certain foreign jurisdictions, prima rily attributable to current year activity. For the three - and six -month period s ended June 30, 2017 , our deferred tax asset valuation allowance associated wi th certain state jurisdictions remained unchanged. Tax Examinations and Litigation On August 1, 2012, we filed a motion for partial summary judgment related to the disallowance of foreign tax credits associated with cross border financing transactions in the Southern District of New York. The Southern District of New York denied our summary judgment motion and upon AIG’s appeal, the U.S. Court of Appeals for the Second Circuit (the Second Circuit) affirmed the denial. AIG’s petition for certiorari to the U.S. Supreme Court from the decision of the Second Circui t was denied on March 7, 2016. As a result, the case has been remanded back to the Southern District of New York for a jury trial. We will vigorously defend our position and continue to believe that we have adequate reserves for any liability that could r esult from these government actions. We continue to monitor legal and other developments in this area, including recent decisions affecting other taxpayers, and evaluate their effect, if any, on our position. Accounting for Uncertainty in Inco me Taxes At June 30, 2017 and December 31, 2016 , our unrecognized tax benefits, excluding interest and penalties were $ 4.6 billion and $ 4.5 billi on, respectively. The six-month period ended June 30, 2017 reflects increases in unrecognized tax benefits associated with the impact of settlement discussions with the IRS related to certain open tax issues. At both June 30, 2017 and December 31, 2016 , 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 than the permissibility, of the deduction were $ 0.1 billion. Accordingly, at June 30, 2017 and December 31, 2016 , the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate wer e $ 4.5 billion and $ 4.4 billion, respectively. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At June 30, 2017 and December 31, 2016 , we had accrued liabilities of $ 1.3 billion and $ 1.2 billion , respectively, for the payment of interest (net of the federal benefit) and penalties. For the six -month periods ended June 30, 2017 and 2016 , we accrued expense (benefit) of $ 75 million and $ (48) million , respectively, for the payment of interest and penalties . We regularly evaluate adjustments proposed by taxing authorities. At June 30, 2017 , such proposed adjustments would not have resulted in a material change to our 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 ch ange in the balance of unrecognized tax 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	6 Months Ended
	Jun. 30, 2017
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT	16. Information Provided in Connection with Outstanding Debt The following Condensed Consolidating Financial Statements reflect the results of AIG L ife H oldings, Inc. (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 June 30, 2017 Assets: Short-term investments $ 4,478 $ - $ 11,024 $ (3,408) $ 12,094 Other investments (a) 5,563 - 303,089 - 308,652 Total investments 10,041 - 314,113 (3,408) 320,746 Cash 5 11 2,501 - 2,517 Loans to subsidiaries (b) 34,565 - 505 (35,070) - Investment in consolidated subsidiaries (b) 44,763 29,407 - (74,170) - Other assets, including deferred income taxes 20,277 247 157,434 (2,014) 175,944 Assets held for sale - - 555 - 555 Total assets $ 109,651 $ 29,665 $ 475,108 $ (114,662) $ 499,762 Liabilities: Insurance liabilities $ - $ - $ 277,574 $ - $ 277,574 Long-term debt 22,117 642 9,053 - 31,812 Other liabilities, including intercompany balances (a) 13,297 195 107,327 (5,594) 115,225 Loans from subsidiaries (b) 505 - 34,565 (35,070) - Liabilities held for sale - - 827 - 827 Total liabilities 35,919 837 429,346 (40,664) 425,438 Total AIG shareholders’ equity 73,732 28,828 45,170 (73,998) 73,732 Non-redeemable noncontrolling interests - - 592 - 592 Total equity 73,732 28,828 45,762 (73,998) 74,324 Total liabilities and equity $ 109,651 $ 29,665 $ 475,108 $ (114,662) $ 499,762 December 31, 2016 Assets: Short-term investments $ 4,424 $ - $ 13,218 $ (5,340) $ 12,302 Other investments (a) 7,154 - 308,719 - 315,873 Total investments 11,578 - 321,937 (5,340) 328,175 Cash 2 34 1,832 - 1,868 Loans to subsidiaries (b) 34,692 - 576 (35,268) - Investment in consolidated subsidiaries (b) 42,582 27,309 - (69,891) - Other assets, including deferred income taxes 24,099 239 140,743 (4,059) 161,022 Assets held for sale - - 7,199 - 7,199 Total assets $ 112,953 $ 27,582 $ 472,287 $ (114,558) $ 498,264 Liabilities: Insurance liabilities $ - $ - $ 275,120 $ - $ 275,120 Long-term debt 21,405 642 8,865 - 30,912 Other liabilities, including intercompany balances (a) 14,671 194 103,975 (9,572) 109,268 Loans from subsidiaries (b) 577 - 34,691 (35,268) - Liabilities held for sale - - 6,106 - 6,106 Total liabilities 36,653 836 428,757 (44,840) 421,406 Total AIG shareholders’ equity 76,300 26,746 42,972 (69,718) 76,300 Non-redeemable noncontrolling interests - - 558 - 558 Total equity 76,300 26,746 43,530 (69,718) 76,858 Total liabilities and equity $ 112,953 $ 27,582 $ 472,287 $ (114,558) $ 498,264 (a) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment . (b) Eliminated in consolidation. Condensed Consolidating Statem ents of Income American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Three Months Ended June 30, 2017 Revenues: Equity in earnings of consolidated subsidiaries * $ 1,430 $ 815 $ - $ (2,245) $ - Other income 232 - 12,248 22 12,502 Total revenues 1,662 815 12,248 (2,223) 12,502 Expenses: Interest expense 241 13 39 (1) 292 Gain on extinguishment of debt - - (4) - (4) Other expenses 181 - 10,386 (20) 10,547 Total expenses 422 13 10,421 (21) 10,835 Income (loss) from continuing operations before income tax expense (benefit) 1,240 802 1,827 (2,202) 1,667 Income tax expense (benefit) 109 (4) 452 - 557 Income (loss) from continuing operations 1,131 806 1,375 (2,202) 1,110 Income (loss) from discontinued operations, net of income taxes (1) - 9 - 8 Net income (loss) 1,130 806 1,384 (2,202) 1,118 Less: Net loss from continuing operations attributable to noncontrolling interests - - (12) - (12) Net income (loss) attributable to AIG $ 1,130 $ 806 $ 1,396 $ (2,202) $ 1,130 Three Months Ended June 30, 2016 Revenues: Equity in earnings of consolidated subsidiaries * $ 2,168 $ 888 $ - $ (3,056) $ - Other income 127 - 14,843 (246) 14,724 Total revenues 2,295 888 14,843 (3,302) 14,724 Expenses: Interest expense 250 13 59 (2) 320 Loss on extinguishment of debt - - 7 - 7 Other expenses 257 7 11,520 (245) 11,539 Total expenses 507 20 11,586 (247) 11,866 Income (loss) from continuing operations before income tax expense (benefit) 1,788 868 3,257 (3,055) 2,858 Income tax expense (benefit) (125) (7) 1,056 - 924 Income (loss) from continuing operations 1,913 875 2,201 (3,055) 1,934 Loss from discontinued operations, net of income taxes - - (10) - (10) Net income (loss) 1,913 875 2,191 (3,055) 1,924 Less: Net income from continuing operations attributable to noncontrolling interests - - 11 - 11 Net income (loss) attributable to AIG $ 1,913 $ 875 $ 2,180 $ (3,055) $ 1,913 American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Six Months Ended June 30, 2017 Revenues: Equity in earnings of consolidated subsidiaries * $ 2,892 $ 1,415 $ - $ (4,307) $ - Other income 428 - 24,630 76 25,134 Total revenues 3,320 1,415 24,630 (4,231) 25,134 Expenses: Interest expense 483 25 85 (3) 590 Gain on extinguishment of debt - - (5) - (5) Other expenses 516 1 20,711 (73) 21,155 Total expenses 999 26 20,791 (76) 21,740 Income (loss) from continuing operations before income tax expense (benefit) 2,321 1,389 3,839 (4,155) 3,394 Income tax expense (benefit) 5 (8) 1,076 - 1,073 Income (loss) from continuing operations 2,316 1,397 2,763 (4,155) 2,321 Income (loss) from discontinued operations, net of income taxes (1) - 9 - 8 Net income (loss) 2,315 1,397 2,772 (4,155) 2,329 Less: Net income from continuing operations attributable to noncontrolling interests - - 14 - 14 Net income (loss) attributable to AIG $ 2,315 $ 1,397 $ 2,758 $ (4,155) $ 2,315 Six Months Ended June 30, 2016 Revenues: Equity in earnings of consolidated subsidiaries * $ 1,224 $ (795) $ - $ (429) $ - Other income 64 5 26,881 (447) 26,503 Total revenues 1,288 (790) 26,881 (876) 26,503 Expenses: Interest expense 494 27 108 (3) 626 Loss on extinguishment of debt 77 - 13 - 90 Other expenses 448 14 23,125 (444) 23,143 Total expenses 1,019 41 23,246 (447) 23,859 Income (loss) from continuing operations before income tax expense (benefit) 269 (831) 3,635 (429) 2,644 Income tax expense (benefit) (1,462) (13) 2,341 - 866 Income (loss) from continuing operations 1,731 (818) 1,294 (429) 1,778 Loss from discontinued operations, net of income taxes (1) - (56) - (57) Net income (loss) 1,730 (818) 1,238 (429) 1,721 Less: Net loss from continuing operations attributable to noncontrolling interests - - (9) - (9) Net income (loss) attributable to AIG $ 1,730 $ (818) $ 1,247 $ (429) $ 1,730 * 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 June 30, 2017 Net income (loss) $ 1,130 $ 806 $ 1,384 $ (2,202) $ 1,118 Other comprehensive income (loss) 1,181 1,122 (1,541) 419 1,181 Comprehensive income (loss) 2,311 1,928 (157) (1,783) 2,299 Total comprehensive loss attributable to noncontrolling interests - - (12) - (12) Comprehensive income (loss) attributable to AIG $ 2,311 $ 1,928 $ (145) $ (1,783) $ 2,311 Three Months Ended June 30, 2016 Net income (loss) $ 1,913 $ 875 $ 2,191 $ (3,055) $ 1,924 Other comprehensive income (loss) 2,734 7,734 (7,006) (728) 2,734 Comprehensive income (loss) 4,647 8,609 (4,815) (3,783) 4,658 Total comprehensive income attributable to noncontrolling interests - - 11 - 11 Comprehensive income (loss) attributable to AIG $ 4,647 $ 8,609 $ (4,826) $ (3,783) $ 4,647 Six Months Ended June 30, 2017 Net income (loss) $ 2,315 $ 1,397 $ 2,772 $ (4,155) $ 2,329 Other comprehensive income (loss) 1,732 5,782 49,489 (55,271) 1,732 Comprehensive income (loss) 4,047 7,179 52,261 (59,426) 4,061 Total comprehensive income attributable to noncontrolling interests - - 14 - 14 Comprehensive income (loss) attributable to AIG $ 4,047 $ 7,179 $ 52,247 $ (59,426) $ 4,047 Six Months Ended June 30, 2016 Net income (loss) $ 1,730 $ (818) $ 1,238 $ (429) $ 1,721 Other comprehensive income (loss) 5,722 7,260 48,548 (55,808) 5,722 Comprehensive income (loss) 7,452 6,442 49,786 (56,237) 7,443 Total comprehensive loss attributable to noncontrolling interests - - (9) - (9) Comprehensive income (loss) attributable to AIG $ 7,452 $ 6,442 $ 49,795 $ (56,237) $ 7,452 Condensed Consolidating Statements of Cash Flows American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries * Eliminations * AIG Six Months Ended June 30, 2017 Net cash (used in) provided by operating activities $ 665 $ 629 $ (9,222) $ (1,357) $ (9,285) Cash flows from investing activities: Sales of investments 5,030 - 45,014 (3,398) 46,646 Sales of divested businesses, net - - 538 - 538 Purchase of investments (1,158) - (34,591) 3,398 (32,351) Loans to subsidiaries - net 350 - 73 (423) - Contributions from (to) subsidiaries - net 931 - - (931) - Net change in restricted cash - - (44) - (44) Net change in short-term investments 402 - 645 - 1,047 Other, net (46) - (871) - (917) Net cash (used in) provided by investing activities 5,509 - 10,764 (1,354) 14,919 Cash flows from financing activities: Issuance of long-term debt 1,108 - 1,113 - 2,221 Repayments of long-term debt (606) - (1,000) - (1,606) Purchase of common stock (6,000) - - - (6,000) Intercompany loans - net (73) - (350) 423 - Cash dividends paid (597) (652) (705) 1,357 (597) Other, net (3) - 27 931 955 Net cash (used in) provided by financing activities (6,171) (652) (915) 2,711 (5,027) Effect of exchange rate changes on cash - - (24) - (24) Change in cash 3 (23) 603 - 583 Cash at beginning of year 2 34 1,832 - 1,868 Change in cash of businesses held for sale - - 66 - 66 Cash at end of period $ 5 $ 11 $ 2,501 $ - $ 2,517 Six Months Ended June 30, 2016 Net cash (used in) provided by operating activities $ 2,734 $ 680 $ (1,022) $ (1,821) $ 571 Cash flows from investing activities: Sales of investments 1,944 - 39,689 (6,846) 34,787 Purchase of investments (606) - (40,877) 6,846 (34,637) Loans to subsidiaries - net 1,050 - 180 (1,230) - Contributions from (to) subsidiaries - net 880 - - (880) - Net change in restricted cash - - (78) - (78) Net change in short-term investments (733) - (1,022) - (1,755) Other, net (298) - 1,717 - 1,419 Net cash (used in) provided by investing activities 2,237 - (391) (2,110) (264) Cash flows from financing activities: Issuance of long-term debt 3,832 - 2,856 - 6,688 Repayments of long-term debt (1,421) (63) (1,435) - (2,919) Purchase of common stock (6,248) - - - (6,248) Intercompany loans - net (180) (3) (1,047) 1,230 - Cash dividends paid (713) (724) (1,097) 1,821 (713) Other, net (263) - 2,385 880 3,002 Net cash (used in) provided by financing activities (4,993) (790) 1,662 3,931 (190) Effect of exchange rate changes on cash - - 38 - 38 Change in cash (22) (110) 287 - 155 Cash at beginning of year 34 116 1,479 - 1,629 Cash at end of period $ 12 $ 6 $ 1,766 $ - $ 1,784 Supplementary Disclosu re 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 2017 period for: Interest: Third party $ (513) $ - $ (169) $ - $ (682) Intercompany - - - - - Taxes: Income tax authorities $ (280) $ - $ (122) $ - $ (402) Intercompany 1,495 - (1,495) - - Cash (paid) received during the 2016 period for: Interest: Third party $ (515) $ (27) $ (108) $ - $ (650) Intercompany - - - - - Taxes: Income tax authorities $ (7) $ - $ (110) $ - $ (117) Intercompany 629 - (629) - - American International Group, Inc. (As Guarantor) supplementary disclosure of non-cash activities: Six Months Ended June 30, (in millions) 2017 2016 Intercompany non-cash financing and investing activities: Capital contributions $ 198 $ 2,915 Dividends received in the form of securities 735 1,790 Return of capital 26 1 Fixed maturity securities received in exchange for equity securities - 440

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2017
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	17. Subsequent Events Dividends Declared and Increase in Share Repurchase Authorization On August 2, 2017, our Board of Directors declared a cash dividend on AIG Common Stock of $ 0.32 per share, payable on September 29 , 2017 to shareholders of record on September 15 , 2017. sales of businesses For details of recent transactions that have closed since June 30, 2017 see Note 4 to the Condensed Consolidated Financial Statements .

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2017
BASIS OF PRESENTATION
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 significant 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 pro fitability of the character necessary to realize the net deferred tax asset; liability for unpaid losses and loss adjustment expenses (loss reserves); reinsurance assets; valuation of future policy benefit liabilities and timing and extent of loss recognit ion; valuation of liabilities for guaranteed benefit features of variable annuity products; estimated gross profits to value deferred policy acquisition costs for investment-oriented products; impairment charges, including other-than-temporary impairments on available for sale securities, impairments on other invested assets, including investments in life settlements, and goodwill impairment; liability for legal contingencies; and fair value measurements of certain financial assets and liabilities. These ac counting 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 consolidated financial condition, results of operations an d cash flows could be materially affected.

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Held-for-Sale Classification	Held-For-Sale Classification We report a business as held-for-sale when management has approved the sale or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the next 12 months and certain other specified criteria are met. A business classified as held-for-sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the bus iness exceeds its estimated fair value, a loss is recognized. Assets and liabilities related to the businesses classified as held-for-sale are separately reported in our Consolidated Balance Sheets beginning in the period in which the business is classifi ed as held-for-sale. Fuji Life, previously classified as held-for-sale, was sold on April 30, 2017.
Future Application of Accounting Standards	Future Application of Accounting Standards Revenue 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, fi nancial instruments, and certain other agreements that are governed under other GAAP guidance, but could affect the revenue recognition for certain of our other activities. The standard is effective on January 1, 2018 and may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. Early adoption is permitted as of January 1, 2017, including for interim periods. We continue to assess the impact to our revenue sources that are within the scope of the standard. Our analysis of revenues for the year ended December 31, 2 016 indicates that substantially all of our revenues are from sources not within the scope of the standard. As substantially all of our revenue sources are not within the scope of the stan dard, we do not expect the adoption of the standard to have a material effect on our reported consolidated financial condition, results of operations or cash flows . Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued an accounting standard that will require equity investments that do not follow the equity method of accounting or are not subject to consolidation to be measured at fair value with changes in fair value recognized in earnings, while financi al liabilities for which fair value option accounting has been elected, changes in fair value due to instrument-specific credit risk will be presented separately in other comprehensive income. The standard allows the election to record equity investments w ithout readily determinable fair values at cost, less impairment, adjusted for subsequent observable price changes with changes in the carrying value of the equity investments recorded in earnings. The standard also updates certain fair value disclosure re quirements for financial instruments carried at amortized cost. The standard is effective on January 1, 2018, with early adoption of certain provisions permitted. Based on our initial review, substantially all of our assets and liabilities are not within the scope of the standard . We do not expect the adoption of the sta ndard to have a material effect on our reported consolidated financial condition, results of operations or cash flows. Leases In February 2016, the FASB issued an accounting standard that will require lessees with lease terms of more than 12 months to recognize a right of use asset and a corresponding lease liability on their balance sheets. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating leases or finance leases. The standard is effective on January 1, 2019, with early adoption permitted using a modified retrospective approach. We are assessing the impact of the standard on our reported consolidated financial condition, re sults of operations and cash flows. We are currently quantifying the expected recognition on our balance sheet for a right to use asset and a lease liability as required by the standard. Financial Instruments - Credit Losses In June 2016, the FASB issued an accounting standard that will change how entities account for credit losses for most financial assets, trade receivables and reinsurance receivables. The standard will replace the existing incurred loss impairment model wi th a new “current expected credit loss model” and will apply to financial assets subject to credit losses, those trade receivables measured at amortized cost, reinsurance receivables and certain off-balance sheet credit exposures. The impairment for avail able-for-sale debt securities, including purchased credit deteriorated securities, will be measured in a similar manner, except that losses will be recognized as allowances rather than reductions in the amortized cost of the securities. The standard will also require additional information to be disclosed in the footnotes. The standard is effective on January 1, 2020, with early adoption permitted on January 1, 2019. We are assessing the impact of the standard on our reported consolidated financial condit ion, results of operations and cash flows, but we expect an increase in our allowances for credit losses. The amount of the increase will be impacted by our portfolio composition and quality at the adoption date as well as economic conditions and forecast s at that time. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued an accounting standard that addresses diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash f lows. The amendments provide clarity on the treatment of eight specifically defined types of cash inflows and outflows. The standard is effective on January 1, 2018, with early adoption permitted as long as all amendments are included in the same period. The standard addresses presentation in the statement of cash flows only and will have no effect on our reported consolidated financial condition or results of operations. Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issue d an accounting standard that will require an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, rather than when the asset is sold to a third party. The standard is effec tive on January 1, 2018, with early adoption permitted. We are assessing the impact of the standard on our reported consolidated financial condition, results of operations and cash flows. Restricted Cash In November 2016, the FASB issued an accounting standard that provides guidance on the presentation of restricted cash in the Statement of Cash Flows. Entities will be required to explain the changes during a reporting period in the total of cash, cash equivalents, and amounts generally described as r estricted cash or restricted cash equivalents in the statement of cash flows. The standard is effective on January 1, 2018, with early adoption permitted. The standard addresses presentation of restricted cash in the Statement of Cash Flows only and will have no effect on our reported consolidated financial condition or results of operations. Clarifying the Definition of a Business In January 2017, the FASB issued an accounting standard that changes the definition of a business to assist entities with eva luating when a set of transferred assets and activities is a business. The new standard will require an entity to evaluate if substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset o r a group of similar assets; if so, the set of transferred assets and activities is not a business. At a minimum, a set must include an input and a substantive process that together significantly contribute to the ability to create output. The standard is effective on January 1, 2018, with early adoption permitted. We are assessing the impact of the standard on our reported consolidated financial condition, results of operations and cash flows. Because the standard requires prospective adoption, the im pact is dependent on future acquisitions, dispositions and those entities that we consolidate due to obtaining a controlling financial interest. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued an accounting standard that elim inates the requirement to calculate the implied fair value of goodwill, through a hypothetical purchase price allocation, to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value not to exceed the total amount of goodwill allocated to that reporting unit. An entity should also consider income tax effects from tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The standard is effective on January 1, 2020 with early adoption permitted on testing dates after January 1, 2017. We currently anticipate that the adoption of the standard will not have a material effect on ou r consolidated financial condition, results of operations or cash flows. Gains and Losses from the Derecognition of Nonfinancial Assets In February 2017, the FASB issued an accounting standard that clarifies the scope and application of Other Income - Gain s and Losses from the Derecognition of Nonfinancial Assets, to the sale or transfer of nonfinancial assets and in substance nonfinancial assets to noncustomers, including partial sales. The standard clarifies that a parent transferring its ownership intere st in a consolidated subsidiary is within the scope of the accounting standard if substantially all of the fair value of the assets within that subsidiary are nonfinancial assets. The standard also clarifies that the derecognition of all businesses and non profit activities should be accounted for in accordance with the derecognition and deconsolidation guidance. The standard also eliminates the exception in the financial asset guidance for transfers of investments (including equity method investments) in re al estate entities. An entity is required to apply the amendments in this update at the same time that it applies the amendments in revenues from contracts with customers. The standard is effective on January 1, 2018 and may be applied retrospectively to each period presented or through a cumulative effect adjustment to retained earnings at the date of adoption (modified retrospective approach). We are currently reviewing the standard and assessing the impact of the standard on our reported consolidated f inancial condition, results of operations and cash flows. Improving the Presentation of Net Periodic Pension and Postretirement Benefit Cost In March 2017, the FASB issued an accounting standard that requires entities to report the service cost component o f net periodic pension and postretirement benefit costs in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net periodic benefit costs are required to be sep arately presen ted in the income statement . The amendments also allow only the service cost component to be eligible for capitali zation when applicable. The standard is effective on January 1, 2018, with early adoption permitted. The amendments should be a pplied retrospectively for the presentation of the service cost and othe r components, and prospectively for the capitalization of the service cost component. The standard addresses presentation of net periodic benefit costs in the income statement and will have no effect on our reported consolidated financial condition, resu lts of operations or cash flows. Premium A mortization on Purchased Callable Debt Securities In March 2017, the FASB issued an accounting standard that shortens the amortization period fo r certain callable debt securities held at a premium. Specifically, the standard requires the premium to be amortized to the earliest call date. The standard does not require an accounting change for securities held at a discount; the discount continues t o be amortized to maturity. The standard is effective January 1, 2018, with early adoption permitted as of January 1, 2017, including for interim periods. We are assessing the impact of the standard, but do not expect it to have a material impact on our reported consolidated financial condi tion, results of operations or cash flows . Modification of Share-Based Payment Awards In May 2017, the FASB issued an accounting standard that provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The standard is effective January 1, 2018, with early adoption permi tted, including adoption for interim period s . This standard must be applied prospectively upon adoption. We do not exp ect the standard to have a material effect on our reported consolidated financial cond ition, results of operations o r cash flows .
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Adopted	Accounting Standards Adopted During 2017 Derivative Contract Novations In March 2016, the Financial Accounting Standards Board (FASB) issued an accounting standard that clarifies that a change in the counterparty (novation) to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not have a material effect on our consolidated financial condition, results of opera tions or cash flows. Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued an accounting standard that clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. The standard requires an evaluation of embedded call (put) options solely on a four-step decision sequence that requires an entity to consider whether (1) the amount paid upon settlem ent is adjusted based on changes in an index, (2) the amount paid upon settlement is indexed to an underlying other than interest rates or credit risk, (3) the debt involves a substantial premium or discount and (4) the put or call option is contingently e xercisable. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Simplifying the Transition to the Equity Method of Accounting In March 2016, the FASB issued an accounting standard that eliminates the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods during which the investment had been held. We adopt ed the standard on its required effective date of January 1, 2017. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Interest Held through Related Parties that are und er Common Control In October 2016, the FASB issued an accounting standard that amends the consolidation analysis for a reporting entity that is the single decision maker of a variable interest entity (VIE). The new guidance will require the decision maker ’s evaluation of its interests held through related parties that are under common control on a proportionate basis (rather than in their entirety) when determining whether it is the primary beneficiary of that VIE. The amendment does not change the charac teristics of a primary beneficiary. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2017
SEGMENT INFORMATION
Schedule of continuing operations by reportable segment	The following table presents AIG’s continuing operations by operatin g segment: Three Months Ended June 30, 2017 2016 Pre-Tax Pre-Tax Total Operating Total Operating (in millions) Revenues Income (Loss) Revenues Income (Loss) Commercial Insurance Liability and Financial Lines $ 2,747 $ 586 $ 3,428 $ 815 Property and Special Risks 1,786 130 2,116 126 Total Commercial Insurance 4,533 716 5,544 941 Consumer Insurance Individual Retirement 1,383 558 1,509 505 Group Retirement 696 266 707 265 Life Insurance 1,030 106 988 26 Personal Insurance 2,871 330 2,928 152 Total Consumer Insurance 5,980 1,260 6,132 948 Other Operations 899 (302) 1,014 (162) Legacy Portfolio 1,138 431 1,010 207 AIG Consolidation and elimination (54) 28 (131) (14) Total AIG Consolidated revenues and pre-tax operating income 12,496 2,133 13,569 1,920 Reconciling Items from revenues and pre-tax operating income to revenues and pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits 80 80 120 120 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - 58 - (64) (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - (251) - 5 Gain (Loss) on extinguishment of debt - 4 - (7) Net realized capital gains (losses) (69) (69) 1,042 1,042 Gain (loss) from divested businesses - (60) - 225 Non-operating litigation reserves and settlements 6 80 7 7 Net loss reserve discount (benefit) charge - (260) - (300) Pension expense related to a one-time lump sum payment to former employees - (1) - - Restructuring and other costs - (47) - (90) Other (11) - (14) - Revenues and Pre-tax income $ 12,502 $ 1,667 $ 14,724 $ 2,858 Six Months Ended June 30, 2017 2016 Pre-Tax Pre-Tax Total Operating Total Operating (in millions) Revenues Income (Loss) Revenues Income (Loss) Commercial Insurance Liability and Financial Lines $ 5,595 $ 1,160 $ 6,739 $ 1,384 Property and Special Risks 3,621 405 4,103 219 Total Commercial Insurance 9,216 1,565 10,842 1,603 Consumer Insurance Individual Retirement 2,756 1,097 3,002 807 Group Retirement 1,414 509 1,336 456 Life Insurance 2,043 160 1,941 27 Personal Insurance 5,709 542 5,744 362 Total Consumer Insurance 11,922 2,308 12,023 1,652 Other Operations 1,989 (548) 2,012 (401) Legacy Portfolio 2,222 773 1,691 5 AIG Consolidation and elimination (118) 76 (262) 6 Total AIG Consolidated revenues and pre-tax operating income 25,231 4,174 26,306 2,865 Reconciling Items from revenues and pre-tax operating income to revenues and pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits 91 91 253 253 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - 111 - (24) (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - (265) - 12 Gain (Loss) on extinguishment of debt - 5 - (90) Net realized capital losses (184) (184) (64) (64) Gain (loss) from divested businesses - (160) - 223 Non-operating litigation reserves and settlements 16 86 41 38 Net loss reserve discount (benefit) charge - (235) - (291) Pension expense related to a one-time lump sum payment to former employees - (1) - - Restructuring and other costs - (228) - (278) Other (20) - (33) - Revenues and Pre-tax income $ 25,134 $ 3,394 $ 26,503 $ 2,644

HELD-FOR-SALE CLASSIFICATION (T

HELD-FOR-SALE CLASSIFICATION (Tables)	6 Months Ended
	Jun. 30, 2017
HELD-FOR-SALE CLASSIFICATION
Summary of assets and liabilities held for sale	The following table summarizes the components of assets and liabilities held-for-sale on the Condensed Consolidated Balance Sheets at June 30, 2017 and December 31, 2016* : June 30, December 31, (in millions) 2017 2016 Assets: Fixed maturity securities $ 147 $ 6,045 Equity securities 9 149 Mortgage and other loans receivable, net 2 137 Other invested assets 33 2 Short-term investments 137 130 Cash 67 133 Accrued investment income 3 21 Premiums and other receivables, net of allowance 276 351 Reinsurance assets, net of allowance - 8 Deferred policy acquisition costs - 471 Other assets 41 273 Assets of businesses held for sale 715 7,720 Less: Loss Accrual (160) (521) Total assets held for sale $ 555 $ 7,199 Liabilities: Liability for unpaid losses and loss adjustment expenses $ 410 $ 402 Unearned premiums 274 297 Future policy benefits for life and accident and health insurance contracts - 4,579 Other policyholder funds - 378 Long-term debt 6 - Other liabilities 137 450 Total liabilities held for sale $ 827 $ 6,106 * Excludes net intercompany assets of $394 million and $384 million at June 30, 2017 and December 31, 2016, respectively, that are eliminated in consolidation.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
FAIR VALUE MEASUREMENTS
Assets and liabilities measured at fair value on a recurring basis	June 30, 2017 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting (b) Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 1 $ 2,355 $ - $ - $ - $ 2,356 Obligations of states, municipalities and political subdivisions - 17,437 2,285 - - 19,722 Non-U.S. governments 406 14,721 12 - - 15,139 Corporate debt - 131,118 932 - - 132,050 RMBS - 19,673 16,393 - - 36,066 CMBS - 12,428 735 - - 13,163 CDO/ABS - 8,188 8,605 - - 16,793 Total bonds available for sale 407 205,920 28,962 - - 235,289 Other bond securities: U.S. government and government sponsored entities 359 2,821 - - - 3,180 Non-U.S. governments - 54 - - - 54 Corporate debt - 1,820 28 - - 1,848 RMBS - 457 1,510 - - 1,967 CMBS - 410 66 - - 476 CDO/ABS - 719 5,234 - - 5,953 Total other bond securities 359 6,281 6,838 - - 13,478 Equity securities available for sale: Common stock 977 - 7 - - 984 Preferred stock 19 529 - - - 548 Mutual funds 70 3 - - - 73 Total equity securities available for sale 1,066 532 7 - - 1,605 Other equity securities 506 - - - - 506 Mortgage and other loans receivable - - 5 - - 5 Other invested assets (a) - 2 225 - - 227 Derivative assets: Interest rate contracts 4 2,355 - - - 2,359 Foreign exchange contracts - 974 - - - 974 Equity contracts 269 197 63 - - 529 Credit contracts - - 2 - - 2 Other contracts - - 22 - - 22 Counterparty netting and cash collateral - - - (1,265) (1,625) (2,890) Total derivative assets 273 3,526 87 (1,265) (1,625) 996 Short-term investments 2,596 809 - - - 3,405 Separate account assets 82,031 5,059 - - - 87,090 Total $ 87,238 $ 222,129 $ 36,124 $ (1,265) $ (1,625) $ 342,601 Liabilities: Policyholder contract deposits $ - $ 13 $ 3,518 $ - $ - $ 3,531 Other policyholder funds - - - - - - Derivative liabilities: Interest rate contracts 1 1,870 30 - - 1,901 Foreign exchange contracts - 1,201 7 - - 1,208 Equity contracts 41 2 - - - 43 Credit contracts - - 295 - - 295 Other contracts - - 6 - - 6 Counterparty netting and cash collateral - - - (1,265) (1,074) (2,339) Total derivative liabilities 42 3,073 338 (1,265) (1,074) 1,114 Long-term debt - 3,024 61 - - 3,085 Other liabilities 380 360 - - - 740 Total $ 422 $ 6,470 $ 3,917 $ (1,265) $ (1,074) $ 8,470 December 31, 2016 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting (b) Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 63 $ 1,929 $ - $ - $ - $ 1,992 Obligations of states, municipalities and political subdivisions - 22,732 2,040 - - 24,772 Non-U.S. governments 52 14,466 17 - - 14,535 Corporate debt - 131,047 1,133 - - 132,180 RMBS - 20,468 16,906 - - 37,374 CMBS - 12,231 2,040 - - 14,271 CDO/ABS - 8,578 7,835 - - 16,413 Total bonds available for sale 115 211,451 29,971 - - 241,537 Other bond securities: U.S. government and government sponsored entities - 2,939 - - - 2,939 Non-U.S. governments - 51 - - - 51 Corporate debt - 1,755 17 - - 1,772 RMBS - 420 1,605 - - 2,025 CMBS - 448 155 - - 603 CDO/ABS - 905 5,703 - - 6,608 Total other bond securities - 6,518 7,480 - - 13,998 Equity securities available for sale: Common stock 1,056 9 - - - 1,065 Preferred stock 752 - - - - 752 Mutual funds 260 1 - - - 261 Total equity securities available for sale 2,068 10 - - - 2,078 Other equity securities 482 - - - - 482 Mortgage and other loans receivable - - 11 - - 11 Other invested assets (a) - 1 204 - - 205 Derivative assets: Interest rate contracts - 2,328 - - - 2,328 Foreign exchange contracts - 1,320 - - - 1,320 Equity contracts 188 59 58 - - 305 Credit contracts - - 2 - - 2 Other contracts - 6 16 - - 22 Counterparty netting and cash collateral - - - (1,265) (903) (2,168) Total derivative assets 188 3,713 76 (1,265) (903) 1,809 Short-term investments 2,660 681 - - - 3,341 Separate account assets 77,318 5,654 - - - 82,972 Total $ 82,831 $ 228,028 $ 37,742 $ (1,265) $ (903) $ 346,433 Liabilities: Policyholder contract deposits $ - $ 25 $ 3,033 $ - $ - $ 3,058 Other policyholder funds 5 - - - - 5 Derivative liabilities: Interest rate contracts - 3,039 38 - - 3,077 Foreign exchange contracts - 1,358 11 - - 1,369 Equity contracts 12 7 - - - 19 Credit contracts - - 331 - - 331 Other contracts - 1 5 - - 6 Counterparty netting and cash collateral - - - (1,265) (1,521) (2,786) Total derivative liabilities 12 4,405 385 (1,265) (1,521) 2,016 Long-term debt - 3,357 71 - - 3,428 Total $ 17 $ 7,787 $ 3,489 $ (1,265) $ (1,521) $ 8,507 (a) Excludes investments that are meas ured at fair value using the net asset value (NAV) per share (or its equivalent), which totaled $ 6.4 billion and $ 6.7 billion as of June 30, 2017 and December 31, 2016 , respectively. (b) Represents netting of derivative exposures covered by qualifying ma ster netting agreements.
Changes in Level 3 recurring fair value measurements (Assets)	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 June 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,041 $ (1) $ 89 $ 148 $ 8 $ - $ 2,285 $ - Non-U.S. governments 16 - 1 (5) - - 12 - Corporate debt 1,079 5 3 (153) 70 (72) 932 - RMBS 16,487 264 346 (681) - (23) 16,393 - CMBS 1,003 18 2 (274) - (14) 735 - CDO/ABS 7,755 (28) 132 746 - - 8,605 - Total bonds available for sale 28,381 258 573 (219) 78 (109) 28,962 - Other bond securities: Corporate debt 18 - - 10 - - 28 - RMBS 1,502 66 - (58) - - 1,510 43 CMBS 65 2 - (1) - - 66 2 CDO/ABS 5,508 175 - (449) - - 5,234 55 Total other bond securities 7,093 243 - (498) - - 6,838 100 Equity securities available for sale: Common stock 8 - - - - (1) 7 - Total equity securities available for sale 8 - - - - (1) 7 - Other equity securities - - - - - - - - Mortgage and other loans receivable 11 - - (6) - - 5 - Other invested assets 180 4 2 39 - - 225 4 Total $ 35,673 $ 505 $ 575 $ (684) $ 78 $ (110) $ 36,037 $ 104 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 Liabilities: Policyholder contract deposits $ 3,072 $ 340 $ - $ 106 $ - $ - $ 3,518 $ 7 Derivative liabilities, net: Interest rate contracts 32 2 - (4) - - 30 (1) Foreign exchange contracts 6 1 - - - - 7 (1) Equity contracts (62) (4) - 3 - - (63) 9 Commodity contracts - - - - - - - - Credit contracts 315 (21) - (1) - - 293 23 Other contracts (11) (20) - 18 (3) - (16) 46 Total derivative liabilities, net (a) 280 (42) - 16 (3) - 251 76 Long-term debt (b) 58 2 - 1 - - 61 (2) Total $ 3,410 $ 300 $ - $ 123 $ (3) $ - $ 3,830 $ 81 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 Six Months Ended June 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,040 $ 1 $ 85 $ 169 $ 8 $ (18) $ 2,285 $ - Non-U.S. governments 17 - 1 (6) - - 12 - Corporate debt 1,133 1 - (166) 206 (242) 932 - RMBS 16,906 553 497 (1,539) 8 (32) 16,393 - CMBS 2,040 23 7 (622) - (713) 735 - CDO/ABS 7,835 (22) 180 644 - (32) 8,605 - Total bonds available for sale 29,971 556 770 (1,520) 222 (1,037) 28,962 - Other bond securities: Corporate debt 17 1 - 10 - - 28 1 RMBS 1,605 121 - (183) - (33) 1,510 67 CMBS 155 2 - (18) - (73) 66 3 CDO/ABS 5,703 348 - (817) - - 5,234 125 Total other bond securities 7,480 472 - (1,008) - (106) 6,838 196 Equity securities available for sale: Common stock - - - 8 - (1) 7 - Total equity securities available for sale - - - 8 - (1) 7 - Other equity securities - - - - - - - - Mortgage and other loans receivable 11 - - (6) - - 5 - Other invested assets 204 3 (3) 22 - (1) 225 4 Total $ 37,666 $ 1,031 $ 767 $ (2,504) $ 222 $ (1,145) $ 36,037 $ 200 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 Liabilities: Policyholder contract deposits $ 3,033 $ 295 $ - $ 190 $ - $ - $ 3,518 $ 2 Derivative liabilities, net: Interest rate contracts 38 (1) - (7) - - 30 2 Foreign exchange contracts 11 1 - (5) - - 7 (1) Equity contracts (58) (15) - 10 - - (63) 14 Commodity contracts - - - - - - - - Credit contracts 329 (36) - - - - 293 34 Other contracts (11) (39) - 37 (3) - (16) 45 Total derivative liabilities, net (a) 309 (90) - 35 (3) - 251 94 Long-term debt (b) 71 14 - (24) - - 61 (4) Total $ 3,413 $ 219 $ - $ 201 $ (3) $ - $ 3,830 $ 92 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 June 30, 2016 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,196 $ 2 $ 136 $ (21) $ - $ - $ 2,313 $ - Non-U.S. governments 30 - - 2 - (4) 28 - Corporate debt 1,024 2 7 (65) 193 (325) 836 - RMBS 16,162 234 61 61 261 - 16,779 - CMBS 2,368 16 10 (87) - (12) 2,295 - CDO/ABS 6,592 8 93 382 - - 7,075 - Total bonds available for sale 28,372 262 307 272 454 (341) 29,326 - Other bond securities: Corporate debt 18 1 - (1) - - 18 1 RMBS 1,513 14 - (41) - - 1,486 (19) CMBS 170 - - (2) - - 168 9 CDO/ABS 6,576 109 - (308) - (65) 6,312 (60) Total other bond securities 8,277 124 - (352) - (65) 7,984 (69) Equity securities available for sale: Common stock - - - - - - - - Total equity securities available for sale - - - - - - - - Other equity securities 15 (1) - - - - 14 - Mortgage and other loans receivable 11 - - - - - 11 - Other invested assets 263 (12) 6 (16) - - 241 - Total $ 36,938 $ 373 $ 313 $ (96) $ 454 $ (406) $ 37,576 $ (69) 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 of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Liabilities: Policyholder contract deposits $ 3,251 $ 598 $ - $ 141 $ - $ - $ 3,990 $ 16 Derivative liabilities, net: Interest rate contracts 48 3 - (5) - - 46 - Foreign exchange contracts 9 1 - (1) - - 9 (1) Equity contracts (51) (4) - 3 - - (52) 3 Credit contracts 490 (28) - (89) - - 373 18 Other contracts 121 (24) - 5 - - 102 23 Total derivatives liabilities, net (a) 617 (52) - (87) - - 478 43 Long-term debt (b) 184 (2) - (2) - (113) 67 - Total $ 4,052 $ 544 $ - $ 52 $ - $ (113) $ 4,535 $ 59 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 Six Months Ended June 30, 2016 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,124 $ 2 $ 194 $ (7) $ - $ - $ 2,313 $ - Non-U.S. governments 32 - (2) 2 - (4) 28 - Corporate debt 1,370 3 (17) (36) 314 (798) 836 - RMBS 16,537 479 (359) (172) 294 - 16,779 - CMBS 2,585 58 (78) (168) - (102) 2,295 - CDO/ABS 6,169 20 43 820 23 - 7,075 - Total bonds available for sale 28,817 562 (219) 439 631 (904) 29,326 - Other bond securities: Corporate debt 17 2 - (1) - - 18 3 RMBS 1,581 (23) - (54) - (18) 1,486 (61) CMBS 193 (2) - (23) - - 168 7 CDO/ABS 7,055 (24) - (719) 65 (65) 6,312 (364) Total other bond securities 8,846 (47) - (797) 65 (83) 7,984 (415) Equity securities available for sale: Common stock - - - - - - - - Total equity securities available for sale - - - - - - - - Other equity securities 14 - - - - - 14 1 Mortgage and other loans receivable 11 - - - - - 11 - Other invested assets 332 (1) 1 (37) - (54) 241 - Total $ 38,020 $ 514 $ (218) $ (395) $ 696 $ (1,041) $ 37,576 $ (414) 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 Liabilities: Policyholder contract deposits $ 2,289 $ 1,443 $ - $ 258 $ - $ - $ 3,990 $ 37 Derivative liabilities, net: Interest rate contracts 50 7 - (11) - - 46 (5) Foreign exchange contracts 7 2 - - - - 9 (1) Equity contracts (54) - - 2 - - (52) - Credit contracts 505 (34) - (98) - - 373 28 Other contracts 48 30 - 24 - - 102 (31) Total derivatives liabilities, net (a) 556 5 - (83) - - 478 (9) Long-term debt (b) 183 - - (3) - (113) 67 3 Total $ 3,028 $ 1,448 $ - $ 172 $ - $ (113) $ 4,535 $ 31 (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.
Changes in Level 3 recurring fair value measurements (Liabilities)	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 June 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,041 $ (1) $ 89 $ 148 $ 8 $ - $ 2,285 $ - Non-U.S. governments 16 - 1 (5) - - 12 - Corporate debt 1,079 5 3 (153) 70 (72) 932 - RMBS 16,487 264 346 (681) - (23) 16,393 - CMBS 1,003 18 2 (274) - (14) 735 - CDO/ABS 7,755 (28) 132 746 - - 8,605 - Total bonds available for sale 28,381 258 573 (219) 78 (109) 28,962 - Other bond securities: Corporate debt 18 - - 10 - - 28 - RMBS 1,502 66 - (58) - - 1,510 43 CMBS 65 2 - (1) - - 66 2 CDO/ABS 5,508 175 - (449) - - 5,234 55 Total other bond securities 7,093 243 - (498) - - 6,838 100 Equity securities available for sale: Common stock 8 - - - - (1) 7 - Total equity securities available for sale 8 - - - - (1) 7 - Other equity securities - - - - - - - - Mortgage and other loans receivable 11 - - (6) - - 5 - Other invested assets 180 4 2 39 - - 225 4 Total $ 35,673 $ 505 $ 575 $ (684) $ 78 $ (110) $ 36,037 $ 104 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 Liabilities: Policyholder contract deposits $ 3,072 $ 340 $ - $ 106 $ - $ - $ 3,518 $ 7 Derivative liabilities, net: Interest rate contracts 32 2 - (4) - - 30 (1) Foreign exchange contracts 6 1 - - - - 7 (1) Equity contracts (62) (4) - 3 - - (63) 9 Commodity contracts - - - - - - - - Credit contracts 315 (21) - (1) - - 293 23 Other contracts (11) (20) - 18 (3) - (16) 46 Total derivative liabilities, net (a) 280 (42) - 16 (3) - 251 76 Long-term debt (b) 58 2 - 1 - - 61 (2) Total $ 3,410 $ 300 $ - $ 123 $ (3) $ - $ 3,830 $ 81 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 Six Months Ended June 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,040 $ 1 $ 85 $ 169 $ 8 $ (18) $ 2,285 $ - Non-U.S. governments 17 - 1 (6) - - 12 - Corporate debt 1,133 1 - (166) 206 (242) 932 - RMBS 16,906 553 497 (1,539) 8 (32) 16,393 - CMBS 2,040 23 7 (622) - (713) 735 - CDO/ABS 7,835 (22) 180 644 - (32) 8,605 - Total bonds available for sale 29,971 556 770 (1,520) 222 (1,037) 28,962 - Other bond securities: Corporate debt 17 1 - 10 - - 28 1 RMBS 1,605 121 - (183) - (33) 1,510 67 CMBS 155 2 - (18) - (73) 66 3 CDO/ABS 5,703 348 - (817) - - 5,234 125 Total other bond securities 7,480 472 - (1,008) - (106) 6,838 196 Equity securities available for sale: Common stock - - - 8 - (1) 7 - Total equity securities available for sale - - - 8 - (1) 7 - Other equity securities - - - - - - - - Mortgage and other loans receivable 11 - - (6) - - 5 - Other invested assets 204 3 (3) 22 - (1) 225 4 Total $ 37,666 $ 1,031 $ 767 $ (2,504) $ 222 $ (1,145) $ 36,037 $ 200 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 Liabilities: Policyholder contract deposits $ 3,033 $ 295 $ - $ 190 $ - $ - $ 3,518 $ 2 Derivative liabilities, net: Interest rate contracts 38 (1) - (7) - - 30 2 Foreign exchange contracts 11 1 - (5) - - 7 (1) Equity contracts (58) (15) - 10 - - (63) 14 Commodity contracts - - - - - - - - Credit contracts 329 (36) - - - - 293 34 Other contracts (11) (39) - 37 (3) - (16) 45 Total derivative liabilities, net (a) 309 (90) - 35 (3) - 251 94 Long-term debt (b) 71 14 - (24) - - 61 (4) Total $ 3,413 $ 219 $ - $ 201 $ (3) $ - $ 3,830 $ 92 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 June 30, 2016 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,196 $ 2 $ 136 $ (21) $ - $ - $ 2,313 $ - Non-U.S. governments 30 - - 2 - (4) 28 - Corporate debt 1,024 2 7 (65) 193 (325) 836 - RMBS 16,162 234 61 61 261 - 16,779 - CMBS 2,368 16 10 (87) - (12) 2,295 - CDO/ABS 6,592 8 93 382 - - 7,075 - Total bonds available for sale 28,372 262 307 272 454 (341) 29,326 - Other bond securities: Corporate debt 18 1 - (1) - - 18 1 RMBS 1,513 14 - (41) - - 1,486 (19) CMBS 170 - - (2) - - 168 9 CDO/ABS 6,576 109 - (308) - (65) 6,312 (60) Total other bond securities 8,277 124 - (352) - (65) 7,984 (69) Equity securities available for sale: Common stock - - - - - - - - Total equity securities available for sale - - - - - - - - Other equity securities 15 (1) - - - - 14 - Mortgage and other loans receivable 11 - - - - - 11 - Other invested assets 263 (12) 6 (16) - - 241 - Total $ 36,938 $ 373 $ 313 $ (96) $ 454 $ (406) $ 37,576 $ (69) 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 of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Liabilities: Policyholder contract deposits $ 3,251 $ 598 $ - $ 141 $ - $ - $ 3,990 $ 16 Derivative liabilities, net: Interest rate contracts 48 3 - (5) - - 46 - Foreign exchange contracts 9 1 - (1) - - 9 (1) Equity contracts (51) (4) - 3 - - (52) 3 Credit contracts 490 (28) - (89) - - 373 18 Other contracts 121 (24) - 5 - - 102 23 Total derivatives liabilities, net (a) 617 (52) - (87) - - 478 43 Long-term debt (b) 184 (2) - (2) - (113) 67 - Total $ 4,052 $ 544 $ - $ 52 $ - $ (113) $ 4,535 $ 59 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 Six Months Ended June 30, 2016 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,124 $ 2 $ 194 $ (7) $ - $ - $ 2,313 $ - Non-U.S. governments 32 - (2) 2 - (4) 28 - Corporate debt 1,370 3 (17) (36) 314 (798) 836 - RMBS 16,537 479 (359) (172) 294 - 16,779 - CMBS 2,585 58 (78) (168) - (102) 2,295 - CDO/ABS 6,169 20 43 820 23 - 7,075 - Total bonds available for sale 28,817 562 (219) 439 631 (904) 29,326 - Other bond securities: Corporate debt 17 2 - (1) - - 18 3 RMBS 1,581 (23) - (54) - (18) 1,486 (61) CMBS 193 (2) - (23) - - 168 7 CDO/ABS 7,055 (24) - (719) 65 (65) 6,312 (364) Total other bond securities 8,846 (47) - (797) 65 (83) 7,984 (415) Equity securities available for sale: Common stock - - - - - - - - Total equity securities available for sale - - - - - - - - Other equity securities 14 - - - - - 14 1 Mortgage and other loans receivable 11 - - - - - 11 - Other invested assets 332 (1) 1 (37) - (54) 241 - Total $ 38,020 $ 514 $ (218) $ (395) $ 696 $ (1,041) $ 37,576 $ (414) 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 Liabilities: Policyholder contract deposits $ 2,289 $ 1,443 $ - $ 258 $ - $ - $ 3,990 $ 37 Derivative liabilities, net: Interest rate contracts 50 7 - (11) - - 46 (5) Foreign exchange contracts 7 2 - - - - 9 (1) Equity contracts (54) - - 2 - - (52) - Credit contracts 505 (34) - (98) - - 373 28 Other contracts 48 30 - 24 - - 102 (31) Total derivatives liabilities, net (a) 556 5 - (83) - - 478 (9) Long-term debt (b) 183 - - (3) - (113) 67 3 Total $ 3,028 $ 1,448 $ - $ 172 $ - $ (113) $ 4,535 $ 31 (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.
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 June 30, 2017 Bonds available for sale $ 294 $ (36) $ - $ 258 Other bond securities 97 (4) 150 243 Other invested assets 3 1 - 4 Six Months Ended June 30, 2017 Bonds available for sale $ 592 $ (36) $ - $ 556 Other bond securities 172 2 298 472 Other invested assets 3 (2) 2 3 Three Months Ended June 30, 2016 Bonds available for sale $ 291 $ (30) $ 1 $ 262 Other bond securities 26 32 66 124 Other equity securities (1) - - (1) Other invested assets (1) (19) 8 (12) Six Months Ended June 30, 2016 Bonds available for sale $ 589 $ (29) $ 2 $ 562 Other bond securities (8) 32 (71) (47) Other invested assets (3) 32 (30) (1) Net Net Realized Investment Capital Other (in millions) Income Gains (Losses) Income Total Three Months Ended June 30, 2017 Policyholder contract deposits $ - $ 340 $ - $ 340 Derivative liabilities, net - (1) (41) (42) Long-term debt - - 2 2 Six Months Ended June 30, 2017 Policyholder contract deposits $ - $ 295 $ - $ 295 Derivative liabilities, net - (8) (82) (90) Long-term debt - - 14 14 Three Months Ended June 30, 2016 Policyholder contract deposits $ - $ 598 $ - $ 598 Derivative liabilities, net - - (52) (52) Long-term debt - - (2) (2) Six Months Ended June 30, 2016 Policyholder contract deposits $ - $ 1,443 $ - $ 1,443 Derivative liabilities, net - 4 1 5 Long-term debt - - - -
Gross components of purchases, sales, issues and settlements, net	Purchases, Sales, Issues and (in millions) Purchases Sales Settlements Settlements, Net (a) Three Months Ended June 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 186 $ (11) $ (27) $ 148 Non-U.S. governments - - (5) (5) Corporate debt 30 (54) (129) (153) RMBS 301 - (982) (681) CMBS - (44) (230) (274) CDO/ABS 1,194 - (448) 746 Total bonds available for sale 1,711 (109) (1,821) (219) Other bond securities: Corporate debt 11 - (1) 10 RMBS 14 - (72) (58) CMBS - - (1) (1) CDO/ABS - (8) (441) (449) Total other bond securities 25 (8) (515) (498) Equity securities available for sale - - - - Other equity securities - - - - Mortgage and other loans receivable - (6) - (6) Other invested assets 42 (2) (1) 39 Total assets $ 1,778 $ (125) $ (2,337) $ (684) Liabilities: Policyholder contract deposits $ - $ 82 $ 24 $ 106 Derivative liabilities, net - - 16 16 Long-term debt (b) - - 1 1 Total liabilities $ - $ 82 $ 41 $ 123 Three Months Ended June 30, 2016 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 17 $ (7) $ (31) $ (21) Non-U.S. governments 2 - - 2 Corporate debt - (25) (40) (65) RMBS 1,040 - (979) 61 CMBS 4 (27) (64) (87) CDO/ABS 612 (11) (219) 382 Total bonds available for sale 1,675 (70) (1,333) 272 Other bond securities: Corporate debt - - (1) (1) RMBS 26 - (67) (41) CMBS - - (2) (2) CDO/ABS 61 (19) (350) (308) Total other bond securities 87 (19) (420) (352) Equity securities available for sale - - - - Other invested assets 9 (2) (23) (16) Total assets $ 1,771 $ (91) $ (1,776) $ (96) Liabilities: Policyholder contract deposits $ - $ 140 $ 1 $ 141 Derivative liabilities, net (1) - (86) (87) Long-term debt (b) - - (2) (2) Total liabilities $ (1) $ 140 $ (87) $ 52 Purchases, Sales, Issues and (in millions) Purchases Sales Settlements Settlements, Net (a) Six Months Ended June 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 223 $ (16) $ (38) $ 169 Non-U.S. governments - (1) (5) (6) Corporate debt 30 (54) (142) (166) RMBS 640 (244) (1,935) (1,539) CMBS 39 (111) (550) (622) CDO/ABS 1,207 - (563) 644 Total bonds available for sale 2,139 (426) (3,233) (1,520) Other bond securities: Corporate debt 11 - (1) 10 RMBS 112 (167) (128) (183) CMBS - (11) (7) (18) CDO/ABS - (8) (809) (817) Total other bond securities 123 (186) (945) (1,008) Equity securities available for sale 8 - - 8 Other equity securities - - - - Mortgage and other loans receivable - (6) - (6) Other invested assets 43 (2) (19) 22 Total assets $ 2,313 $ (620) $ (4,197) $ (2,504) Liabilities: Policyholder contract deposits $ - $ 152 $ 38 $ 190 Derivative liabilities, net - - 35 35 Long-term debt (b) - - (24) (24) Total liabilities $ - $ 152 $ 49 $ 201 Six Months Ended June 30, 2016 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions (c) $ 46 $ (7) $ (46) $ (7) Non-U.S. governments 3 - (1) 2 Corporate debt 29 (25) (40) (36) RMBS 1,543 (58) (1,657) (172) CMBS 106 (58) (216) (168) CDO/ABS 1,151 (11) (320) 820 Total bonds available for sale 2,878 (159) (2,280) 439 Other bond securities: Corporate debt - - (1) (1) RMBS 89 (26) (117) (54) CMBS 53 (71) (5) (23) CDO/ABS 69 (36) (752) (719) Total other bond securities 211 (133) (875) (797) Equity securities available for sale - - - - Other equity securities 14 - (14) - Other invested assets 18 (2) (53) (37) Total assets $ 3,121 $ (294) $ (3,222) $ (395) Liabilities: Policyholder contract deposits $ - $ 270 $ (12) $ 258 Derivative liabilities, net (3) - (80) (83) Long-term debt (b) - - (3) (3) Total liabilities $ (3) $ 270 $ (95) $ 172 (a) There were no issuances during the three -month period s ended June 30, 2017 and 2016 , respectively . (b) Includes GIAs, notes, bonds, loans and mortgages payable .
Significant unobservable inputs used for recurring fair value measurements	Fair Value at June 30, Valuation Range (in millions) 2017 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,494 Discounted cash flow Yield 3.75% - 4.68% (4.21%) Corporate debt 454 Discounted cash flow Yield 3.90% - 4.58% (4.24%) RMBS (a) 16,471 Discounted cash flow Constant prepayment rate 2.26% - 10.48% (6.37%) Loss severity 47.43% - 79.54% (63.49%) Constant default rate 3.23% - 7.98% (5.61%) Yield 2.96% - 5.32% (4.14%) CDO/ABS (a) 5,030 Discounted cash flow Yield 3.27% - 5.33% (4.30%) CMBS 542 Discounted cash flow Yield 2.39% - 8.01% (5.20%) Liabilities: Embedded derivatives within Policyholder contract deposits: Guaranteed minimum withdrawal benefits (GMWB) 1,917 Discounted cash flow Equity volatility 8.00% - 50.00% Base lapse rate 0.50% - 20.00% Dynamic lapse multiplier 30.00% - 170.00% Mortality multiplier (c) 42.00% - 161.00% Utilization 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 1,140 Discounted cash flow Lapse rate 1.00% - 66.00% Mortality multiplier (c) 101.00% - 103.00% Indexed Life 443 Discounted cash flow Base lapse rate 2.00% to 19.00% Mortality rate 0.00% to 40.00% Fair Value at December 31, Valuation Range (in millions) 2016 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,248 Discounted cash flow Yield 4.12% - 4.91% (4.52%) Corporate debt 498 Discounted cash flow Yield 3.41% - 6.38% (4.90%) RMBS (a) 17,412 Discounted cash flow Constant prepayment rate 3.95% - 6.54% (5.25%) Loss severity 47.51% - 80.98% (64.24%) Constant default rate 3.28% - 8.64% (5.96%) Yield 3.28% - 5.87% (4.57%) CDO/ABS (a) 4,368 Discounted cash flow Yield 3.67% - 5.85% (4.76%) CMBS 1,511 Discounted cash flow Yield 0.48% - 10.21% (5.34%) Liabilities: Embedded derivatives within Policyholder contract deposits: GMWB 1,777 Discounted cash flow Equity volatility 13.00% - 50.00% Base lapse rate 0.50% - 20.00% Dynamic lapse multiplier 30.00% - 170.00% Mortality multiplier (c) 42.00% - 161.00% Utilization 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 859 Discounted cash flow Lapse rate 1.00% - 66.00% Mortality multiplier (c) 101.00% - 103.00% Indexed Life 381 Discounted cash flow Base lapse rate 2.00% - 19.00% Mortality rate 0.00% - 40.00% (a) Information received from third-party valuation service providers. The ranges of the unobservable inputs for 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 tra nches 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) Rep resents discount rates, estimates and assumptions that we believe would be used by market participants when valuing these assets and liabilities. (c) Mortality input s are shown as multipliers of the 2012 Individual Annuity Mortality Basic table for GMWB , and the 1975-1980 Modified Basic Table for in dex annuities.
Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share	June 30, 2017 December 31, 2016 Fair Value Fair Value Using NAV Using NAV Per Share (or Unfunded Per Share (or Unfunded (in millions) Investment Category Includes its equivalent) Commitments its equivalent) 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 $ 1,298 $ 799 $ 1,424 $ 750 Real Estate / Infrastructure Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities 230 182 258 208 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 123 34 137 31 Distressed Securities of companies that are in default, under bankruptcy protection, or troubled 103 43 123 44 Other Includes multi-strategy, mezzanine and other strategies 367 264 312 215 Total private equity funds 2,121 1,322 2,254 1,248 Hedge funds: Event-driven Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations 1,315 - 1,453 9 Long-short Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk 1,370 - 1,429 - Macro Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions 1,036 - 992 - Distressed Securities of companies that are in default, under bankruptcy protection or troubled 308 7 416 8 Other Includes investments held in funds that are less liquid, as well as other strategies which allow for broader allocation between public and private investments 223 7 197 14 Total hedge funds 4,252 14 4,487 31 Total $ 6,373 $ 1,336 $ 6,741 $ 1,279
Gains or losses related to the eligible instruments for which AIG elected the fair value option	Gain (Loss) Three Months Ended June 30, Gain (Loss) Six Months Ended June 30, (in millions) 2017 2016 2017 2016 Assets: Bond and equity securities $ 450 $ 248 $ 799 $ 298 Alternative Investments (a) 96 33 277 (214) Other, including Short-term investments - - - - Liabilities: Long-term debt (b) (33) (71) (48) (247) Other liabilities (1) - (1) - Total gain (loss) $ 512 $ 210 $ 1,027 $ (163) (a) Includes certain hedge funds, private equity funds and other investment partnerships . ( b ) Includes GIAs, notes, bonds and mortgages payable .
Difference between fair values and aggregate contractual principal amounts, fair value option	June 30, 2017 December 31, 2016 Outstanding Outstanding (in millions) Fair Value Principal Amount Difference Fair Value Principal Amount Difference Assets: Mortgage and other loans receivable $ 5 $ 5 $ - $ 11 $ 8 $ 3 Liabilities: Long-term debt * $ 3,085 $ 2,351 $ 734 $ 3,428 $ 2,628 $ 800 * Includes GIAs, notes, bond s, 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 June 30, Six Months Ended June 30, (in millions) Level 1 Level 2 Level 3 Total 2017 2016 2017 2016 June 30, 2017 Other investments $ - $ - $ 17 $ 17 $ 33 $ 29 $ 50 $ 31 Investments in life settlements - - 253 253 46 92 87 249 Other assets * - - - - - 9 35 9 Total $ - $ - $ 270 $ 270 $ 79 $ 130 $ 172 $ 289 December 31, 2016 Other investments $ - $ - $ 364 $ 364 Investments in life settlements - - 736 736 Other assets - - 2 2 Total $ - $ - $ 1,102 $ 1,102 * Impairments include $ 35 million related to other assets that were sold during the three month period ended June 30, 2017 .
Carrying values and estimated fair values of AIG's financial instruments	Estimated Fair Value Carrying (in millions) Level 1 Level 2 Level 3 Total Value June 30, 2017 Assets: Mortgage and other loans receivable $ - $ 156 $ 35,593 $ 35,749 $ 34,637 Other invested assets - 630 1,736 2,366 2,748 Short-term investments - 8,689 - 8,689 8,689 Cash 2,517 - - 2,517 2,517 Liabilities: Policyholder contract deposits associated with investment-type contracts - 354 123,945 124,299 113,474 Other liabilities - 4,395 - 4,395 4,395 Long-term debt - 24,120 3,645 27,765 28,727 December 31, 2016 Assets: Mortgage and other loans receivable $ - $ 161 $ 33,575 $ 33,736 $ 33,229 Other invested assets - 955 2,053 3,008 3,474 Short-term investments - 8,961 - 8,961 8,961 Cash 1,868 - - 1,868 1,868 Liabilities: Policyholder contract deposits associated with investment-type contracts - 382 121,742 122,124 112,705 Other liabilities - 4,196 - 4,196 4,196 Long-term debt - 23,117 3,333 26,450 27,484

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
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) June 30, 2017 Bonds available for sale: U.S. government and government sponsored entities $ 2,225 $ 153 $ (22) $ 2,356 $ - Obligations of states, municipalities and political subdivisions 18,625 1,167 (70) 19,722 - Non-U.S. governments 14,499 757 (117) 15,139 - Corporate debt 124,719 8,319 (988) 132,050 (5) Mortgage-backed, asset-backed and collateralized: RMBS 33,336 2,992 (262) 36,066 1,504 CMBS 12,830 435 (102) 13,163 46 CDO/ABS 16,486 378 (71) 16,793 59 Total mortgage-backed, asset-backed and collateralized 62,652 3,805 (435) 66,022 1,609 Total bonds available for sale (b) 222,720 14,201 (1,632) 235,289 1,604 Equity securities available for sale: Common stock 616 372 (4) 984 - Preferred stock 504 44 - 548 - Mutual funds 61 12 - 73 - Total equity securities available for sale 1,181 428 (4) 1,605 - Total $ 223,901 $ 14,629 $ (1,636) $ 236,894 $ 1,604 December 31, 2016 Bonds available for sale: U.S. government and government sponsored entities $ 1,870 $ 148 $ (26) $ 1,992 $ - Obligations of states, municipalities and political subdivisions 24,025 1,001 (254) 24,772 - Non-U.S. governments 14,018 773 (256) 14,535 - Corporate debt 126,648 7,271 (1,739) 132,180 (31) Mortgage-backed, asset-backed and collateralized: RMBS 35,311 2,541 (478) 37,374 1,212 CMBS 14,054 409 (192) 14,271 45 CDO/ABS 16,315 278 (180) 16,413 39 Total mortgage-backed, asset-backed and collateralized 65,680 3,228 (850) 68,058 1,296 Total bonds available for sale (b) 232,241 12,421 (3,125) 241,537 1,265 Equity securities available for sale: Common stock 708 369 (12) 1,065 - Preferred stock 748 4 - 752 - Mutual funds 241 23 (3) 261 - Total equity securities available for sale 1,697 396 (15) 2,078 - Total $ 233,938 $ 12,817 $ (3,140) $ 243,615 $ 1,265 (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 June 30, 2017 and December 31, 2016 , bonds available for sale held by us that were below investment grade or not rated totaled $ 31.6 billion and $ 33.6 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 June 30, 2017 Bonds available for sale: U.S. government and government sponsored entities $ 949 $ 21 $ 1 $ 1 $ 950 $ 22 Obligations of states, municipalities and political subdivisions 1,867 48 257 22 2,124 70 Non-U.S. governments 3,132 52 475 65 3,607 117 Corporate debt 18,644 504 4,412 484 23,056 988 RMBS 6,364 156 2,716 106 9,080 262 CMBS 2,838 92 226 10 3,064 102 CDO/ABS 2,644 31 1,218 40 3,862 71 Total bonds available for sale 36,438 904 9,305 728 45,743 1,632 Equity securities available for sale: Common stock 42 3 6 1 48 4 Mutual funds 8 - - - 8 - Total equity securities available for sale 50 3 6 1 56 4 Total $ 36,488 $ 907 $ 9,311 $ 729 $ 45,799 $ 1,636 December 31, 2016 Bonds available for sale: U.S. government and government sponsored entities $ 720 $ 26 $ - $ - $ 720 $ 26 Obligations of states, municipalities and political subdivisions 5,814 221 231 33 6,045 254 Non-U.S. governments 3,865 162 489 94 4,354 256 Corporate debt 28,184 1,013 6,080 726 34,264 1,739 RMBS 8,794 252 4,045 226 12,839 478 CMBS 4,469 152 479 40 4,948 192 CDO/ABS 5,362 102 1,961 78 7,323 180 Total bonds available for sale 57,208 1,928 13,285 1,197 70,493 3,125 Equity securities available for sale: Common stock 125 12 - - 125 12 Mutual funds 64 3 - - 64 3 Total equity securities available for sale 189 15 - - 189 15 Total $ 57,397 $ 1,943 $ 13,285 $ 1,197 $ 70,682 $ 3,140
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 Available for Sale Position Available for Sale (in millions) Amortized Cost Fair Value Amortized Cost Fair Value June 30, 2017 Due in one year or less $ 8,730 $ 8,960 $ 1,236 $ 1,230 Due after one year through five years 47,266 49,765 5,541 5,412 Due after five years through ten years 41,089 42,441 9,898 9,471 Due after ten years 62,983 68,101 14,259 13,624 Mortgage-backed, asset-backed and collateralized 62,652 66,022 16,441 16,006 Total $ 222,720 $ 235,289 $ 47,375 $ 45,743 December 31, 2016 Due in one year or less $ 7,796 $ 7,994 $ 604 $ 581 Due after one year through five years 49,200 51,958 6,002 5,841 Due after five years through ten years 43,308 44,226 16,045 15,332 Due after ten years 66,257 69,301 25,007 23,629 Mortgage-backed, asset-backed and collateralized 65,680 68,058 25,960 25,110 Total $ 232,241 $ 241,537 $ 73,618 $ 70,493
The gross realized gains and gross realized losses from sales of AIG's available for sale securities	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 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 $ 211 $ 46 $ 217 $ 93 $ 544 $ 224 $ 404 $ 642 Equity securities 83 2 980 6 100 18 1,012 14 Total $ 294 $ 48 $ 1,197 $ 99 $ 644 $ 242 $ 1,416 $ 656
The fair value of AIG's other securities	June 30, 2017 December 31, 2016 Fair Percent Fair Percent (in millions) Value of Total Value of Total Fixed maturity securities: U.S. government and government sponsored entities $ 3,180 23 % $ 2,939 20 % Obligations of states, municipalities and political subdivisions - - - - Non-U.S. governments 54 - 51 - Corporate debt 1,848 13 1,772 12 Mortgage-backed, asset-backed and collateralized : RMBS 1,967 14 2,025 14 CMBS 476 3 603 4 CDO/ABS and other collateralized * 5,953 43 6,608 47 Total mortgage-backed, asset-backed and collateralized 8,396 60 9,236 65 Total fixed maturity securities 13,478 96 13,998 97 Equity securities 506 4 482 3 Total $ 13,984 100 % $ 14,480 100 % * Includes $ 298 million and $ 421 million of U.S. g overnment agency-backed ABS at June 30, 2017 and December 31, 2016 , respectively.
Components of other invested assets	June 30, December 31, (in millions) 2017 2016 Alternative investments (a) (b) $ 12,496 $ 13,379 Investment real estate (c) 7,188 6,900 Aircraft asset investments (d) 243 321 Investments in life settlements 2,105 2,516 All other investments 1,100 1,422 Total $ 23,132 $ 24,538 (a) At June 30, 2017 , includes hedge funds of $ 6.8 billion, private equity funds of $ 5.1 billion, and affordable housing partnerships of $ 567 million. At December 31, 2016 , includes hedge funds of $ 7.2 billion, private equity funds of $ 5.5 billion, and affordable housing partnerships of $ 625 million. (b) Approximately 55 percent and 27 percent of our hedge fund portfolio is available for redemption in 2017 and 2018, respectively, an additional 12 percent will be available between 2019 and 2024 . (c) Net of accumulated depreciation of $ 423 million and $ 451 million in June 30, 2017 and December 31, 2016 , respectively. (d) Consists of investments in aircraft equipment held in a consolidated trust.
Components of net investment income	Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Fixed maturity securities, including short-term investments $ 2,828 $ 2,992 $ 5,629 $ 5,928 Equity securities 12 (22) 17 (44) Interest on mortgage and other loans 399 376 792 765 Alternative investments * 371 310 819 (56) Real estate 31 35 80 88 Other investments 100 101 216 238 Total investment income 3,741 3,792 7,553 6,919 Investment expenses 128 109 254 223 Net investment income $ 3,613 $ 3,683 $ 7,299 $ 6,696 * Includes income from hedge funds, private equity funds and affordable housing partnerships. Hedge funds for which we elected the fair value option are recorded as of the balance sheet date. Other hedge funds are generally reported on a one-month lag, while private equity funds are generally reported on a one-quarter lag.
Components of net realized capital gains (losses)	Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Sales of fixed maturity securities $ 165 $ 124 $ 320 $ (238) Sales of equity securities 81 974 82 998 Other-than-temporary impairments: Severity (2) (3) (2) (5) Change in intent (7) (4) (8) (33) Foreign currency declines - (1) (10) (7) Issuer-specific credit events (55) (95) (112) (226) Adverse projected cash flows (3) (5) (3) (41) Provision for loan losses (24) (30) (18) - Foreign exchange transactions 74 (38) 233 (558) Derivatives and hedge accounting (298) 170 (674) 97 Impairments on investments in life settlements (46) (92) (87) (249) Other * 46 42 95 198 Net realized capital gains (losses) $ (69) $ 1,042 $ (184) $ (64) * Includes $ 107 million of realized gains due to a purchase price adjustment on the sale of Class B shares of Prude ntial Financial, Inc. for the six months ended June 30, 2016 .
Schedule of increase (decrease) in unrealized appreciation (depreciation) of available for sale securities and other investments	Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ 2,500 $ 5,584 $ 3,273 $ 10,362 Equity securities (71) (1,045) 43 (1,140) Other investments (83) (66) (137) (214) Total Increase (decrease) in unrealized appreciation (depreciation) of investments * $ 2,346 $ 4,473 $ 3,179 $ 9,008 * Excludes net unrealized losses attributable to businesses held for sale.
Credit impairments recognized in earnings for available for sale fixed maturity securities	Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Balance, beginning of period $ 946 $ 1,523 $ 1,098 $ 1,747 Increases due to: Credit impairments on new securities subject to impairment losses 41 13 58 123 Additional credit impairments on previously impaired securities 7 74 37 129 Reductions due to: Credit impaired securities fully disposed of for which there was no prior intent or requirement to sell (44) (93) (55) (243) Accretion on securities previously impaired due to credit * (188) (219) (376) (458) Balance, end of period $ 762 $ 1,298 $ 762 $ 1,298 * 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) $ 36,196 Cash flows expected to be collected * 29,608 Recorded investment in acquired securities 19,907 * Represents undiscounted expect ed cash flows, including both principal and interes t .
Schedule of Purchased Credit Impaired (PCI) Securities, at reporting date	(in millions) June 30, 2017 December 31, 2016 Outstanding principal balance $ 15,568 $ 16,728 Amortized cost 11,105 11,987 Fair value 12,488 12,922
Activity for accretable yield on Purchased Credit Impaired (PCI) Securities	Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Balance, beginning of period $ 7,593 $ 6,622 $ 7,498 $ 6,846 Newly purchased PCI securities 13 245 101 451 Disposals - - (18) - Accretion (206) (209) (416) (423) Effect of changes in interest rate indices (135) 60 (114) (239) Net reclassification from (to) non-accretable difference, including effects of prepayments 200 325 414 408 Balance, end of period $ 7,465 $ 7,043 $ 7,465 $ 7,043
Schedule of fair value of securities pledged to counterparties under secured financing transactions	(in millions) June 30, 2017 December 31, 2016 Fixed maturity securities available for sale $ 2,520 $ 2,389 Other bond securities, at fair value $ 2,188 $ 1,799
Transfer of Certain Financial Assets Accounted for as Secured Borrowings	Remaining Contractual Maturity of the Agreements (in millions) Overnight and Continuous up to 30 days 31 - 90 days 91 - 364 days 365 days or greater Total June 30, 2017 Bonds available for sale: Non-U.S. governments $ - $ 14 $ 18 $ 13 $ - $ 45 Corporate debt - 17 23 16 - 56 Other bond securities: U.S. government and government sponsored entities 359 - - - - 359 Non-U.S. governments - - - - - - Corporate debt - 555 743 531 - 1,829 Total $ 359 $ 586 $ 784 $ 560 $ - $ 2,289 December 31, 2016 Other bond securities: Non-U.S. governments $ - $ - $ - $ 51 $ - $ 51 Corporate debt - 163 860 725 - 1,748 Total $ - $ 163 $ 860 $ 776 $ - $ 1,799 Remaining Contractual Maturity of the Agreements (in millions) Overnight and Continuous up to 30 days 31 - 90 days 91 - 364 days 365 days or greater Total June 30, 2017 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ - $ - $ - $ - $ - $ - Non-U.S. governments - 4 16 - - 20 Corporate debt - 589 1,421 389 - 2,399 CMBS - - - - - - Total $ - $ 593 $ 1,437 $ 389 $ - $ 2,419 December 31, 2016 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ - $ 21 $ - $ - $ - $ 21 Non-U.S. governments - - 50 - - 50 Corporate debt - 791 1,466 - - 2,257 CMBS - - 61 - - 61 Total $ - $ 812 $ 1,577 $ - $ - $ 2,389
Schedule of fair value of securities pledged to the entity under reverse repurchase agreements	(in millions) June 30, 2017 December 31, 2016 Securities collateral pledged to us $ 3,463 $ 1,434 Amount sold or repledged by us $ 384 $ 11

LENDING ACTIVITIES (Tables)

LENDING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2017
LENDING ACTIVITIES
Composition of Mortgages and other loans receivable	June 30, December 31, (in millions) 2017 2016 Commercial mortgages * $ 26,749 $ 25,042 Residential mortgages 4,691 3,828 Life insurance policy loans 2,309 2,367 Commercial loans, other loans and notes receivable 1,200 2,300 Total mortgage and other loans receivable 34,949 33,537 Allowance for credit losses (307) (297) Mortgage and other loans receivable, net $ 34,642 $ 33,240 * Commercial mortgages primarily represent loans for office s , apartments and retail properties, with exposures in New York and California representing the largest geographic concentrations ( aggregating approximately 23 percent and 12 percent , respectively, at June 30, 2017 , and 24 percent and 12 percent , respectively, at December 31, 2016 ) .
Schedule of debt service coverage ratio and loan-to-value ratio for the commercial mortgage loans	Debt Service Coverage Ratios (a) (in millions) >1.20X 1.00X - 1.20X <1.00X Total June 30, 2017 Loan-to-Value Ratios (b) Less than 65% $ 16,662 $ 1,372 $ 247 $ 18,281 65% to 75% 5,813 554 62 6,429 76% to 80% 1,078 119 60 1,257 Greater than 80% 320 362 100 782 Total commercial mortgages $ 23,873 $ 2,407 $ 469 $ 26,749 December 31, 2016 Loan-to-Value Ratios (b) Less than 65% $ 13,998 $ 1,694 $ 232 $ 15,924 65% to 75% 5,946 575 62 6,583 76% to 80% 1,246 174 47 1,467 Greater than 80% 471 392 205 1,068 Total commercial mortgages $ 21,661 $ 2,835 $ 546 $ 25,042 ( a) The debt service coverage ratio compares a property’s net operating income to its debt service payments, including principal and interest. Our weighted average debt service coverage ratio was 2.0 X and 1.9 X at June 30, 2017 and December 31, 2016 , respectively. (b) The loan-to-value ratio compares the current unpaid principal balance of the loan to the estimated fair value of the underlying property collateralizing the loan. Our weigh ted average loan-to-value ratio was 58 percent at both June 30, 2017 , and December 31, 2016 .
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 $ June 30, 2017 Credit Quality Performance Indicator: In good standing 781 $ 6,717 $ 8,272 $ 5,149 $ 2,167 $ 2,378 $ 1,977 $ 26,660 100 % Restructured (a) 3 - 15 18 - 16 - 49 - 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure 2 - 40 - - - - 40 - Total (b) 786 $ 6,717 $ 8,327 $ 5,167 $ 2,167 $ 2,394 $ 1,977 $ 26,749 100 % Allowance for credit losses: Specific $ - $ 3 $ 31 $ - $ 1 $ - $ 35 - % General 49 71 35 9 12 15 191 1 Total allowance for credit losses $ 49 $ 74 $ 66 $ 9 $ 13 $ 15 $ 226 1 % December 31, 2016 Credit Quality Performance Indicator: In good standing 784 $ 6,005 $ 7,830 $ 5,179 $ 1,898 $ 2,373 $ 1,589 $ 24,874 99 % Restructured (a) 4 - 134 18 - 16 - 168 1 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 788 $ 6,005 $ 7,964 $ 5,197 $ 1,898 $ 2,389 $ 1,589 $ 25,042 100 % Allowance for credit losses: Specific $ - $ 3 $ 1 $ 6 $ 1 $ - $ 11 - % General 35 72 41 7 13 15 183 1 Total allowance for credit losses $ 35 $ 75 $ 42 $ 13 $ 14 $ 15 $ 194 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 2016 Annual Report. (b) Does not reflect a llowance for credit l osses . (c) 99.7 percent of the commercial mortgage s held at such respective dates were current as to payments of principal and interes t. There were no significant amounts of nonperforming commercial mortga ges (defined as those loans where payment of contractual principal or interest is mor e than 90 days past due) during any of the periods presented.
Schedule of changes in the allowance for losses on Mortgage and other loans receivable	2017 2016 Six Months Ended June 30, Commercial Other Commercial Other (in millions) Mortgages Loans Total Mortgages Loans Total Allowance, beginning of year $ 194 $ 103 $ 297 $ 171 $ 137 $ 308 Loans charged off (5) (2) (7) (13) - (13) Recoveries of loans previously charged off - - - 11 - 11 Net charge-offs (5) (2) (7) (2) - (2) Provision for loan losses 37 (20) 17 29 (27) 2 Other - - - - - - Allowance, end of period $ 226 * $ 81 $ 307 $ 198 * $ 110 $ 308 * Of the total allowance , $ 35 million and $ 12 million relate to individually assessed credit losses on $ 289 million and $ 352 million of commercial mortgages at June 30, 2017 and 2016 , respectively.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2017
Variable Interest Entity Primary Beneficiary
Variable Interest Entities [Line Items]
Schedule of Variable Interest Entities	(in millions) Real Estate and Investment Entities (d) Securitization Vehicles (e) Structured Investment Vehicle Affordable Housing Partnerships Other Total June 30, 2017 Assets: Bonds available for sale $ - $ 10,270 $ - $ - $ - $ 10,270 Other bond securities - 4,586 225 - 4 4,815 Mortgage and other loans receivable - 1,757 - - - 1,757 Other invested assets 1,138 243 - 3,083 26 4,490 Other (a) 224 1,174 101 446 86 2,031 Total assets (b) $ 1,362 $ 18,030 $ 326 $ 3,529 $ 116 $ 23,363 Liabilities: Long-term debt $ 529 $ 1,117 $ 61 $ 1,878 $ 5 $ 3,590 Other (c) 103 204 - 214 20 541 Total liabilities $ 632 $ 1,321 $ 61 $ 2,092 $ 25 $ 4,131 December 31, 2016 Assets: Bonds available for sale $ - $ 10,233 $ - $ - $ - $ 10,233 Other bond securities - 4,858 266 - 5 5,129 Mortgage and other loans receivable 1 1,442 - - 104 1,547 Other invested assets 1,052 321 - 2,821 28 4,222 Other (a) 365 1,104 50 384 92 1,995 Total assets (b) $ 1,418 $ 17,958 $ 316 $ 3,205 $ 229 $ 23,126 Liabilities: Long-term debt $ 444 $ 771 $ 56 $ 1,696 $ 6 $ 2,973 Other (c) 224 203 1 211 38 677 Total liabilities $ 668 $ 974 $ 57 $ 1,907 $ 44 $ 3,650 (a) Comprised primarily of Short-term investments and Other assets at June 30, 2017 and December 31, 2016 . (b) The assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other liabilities at June 30, 2017 and December 31, 2016 . (d) At June 30, 2017 and December 31, 2016 , off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $ 111 million and $ 106 million, respectively. (e) At June 30, 2017 and December 31, 2016 , $ 17.4 billion and $ 17.3 billion, respectively, of the total assets of consolidated securitization vehicles were owed to AIG Parent or its subsidiaries.
Variable Interest Entity Not Primary Beneficiary
Variable Interest Entities [Line Items]
Schedule of Assets And Liabilities of Variable Interest Entities by Balance Sheets Location	Maximum Exposure to Loss Total VIE On-Balance Off-Balance (in millions) Assets Sheet (b) Sheet Total June 30, 2017 Real estate and investment entities (a) $ 389,470 $ 10,230 $ 1,920 $ 12,150 Affordable housing partnerships 4,396 744 - 744 Other 2,324 275 1,181 (c) 1,456 Total $ 396,190 $ 11,249 $ 3,101 $ 14,350 December 31, 2016 Real estate and investment entities (a) $ 409,087 $ 11,015 $ 2,115 $ 13,130 Affordable housing partnerships 4,709 785 - 785 Other 2,869 314 1,045 (c) 1,359 Total $ 416,665 $ 12,114 $ 3,160 $ 15,274 (a) Comprised primarily of hedge funds and private equity funds. (b) At June 30, 2017 and December 31, 2016 , $ 10.8 billion and $ 11.7 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets. (c) 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.

DERIVATIVES AND HEDGE ACCOUNT35

DERIVATIVES AND HEDGE ACCOUNTING (Tables)	6 Months Ended
	Jun. 30, 2017
DERIVATIVES AND HEDGE ACCOUNTING
Notional amounts and fair values of derivative instruments	June 30, 2017 December 31, 2016 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 $ - $ - $ 865 $ 10 $ 175 $ - $ 782 $ 11 Foreign exchange contracts 2,705 250 3,921 207 3,527 385 2,602 184 Equity contracts - - 141 - - - 113 7 Derivatives not designated as hedging instruments: (a) Interest rate contracts 55,656 2,359 21,381 1,891 51,030 2,328 44,211 3,066 Foreign exchange contracts 7,771 724 9,846 1,001 9,468 935 7,674 1,185 Equity contracts 14,895 529 8,727 43 14,060 305 8,633 12 Credit contracts (b) 3 2 801 295 4 2 861 331 Other contracts (c) 38,152 22 119 6 37,633 22 62 6 Total derivatives, gross $ 119,182 $ 3,886 $ 45,801 $ 3,453 $ 115,897 $ 3,977 $ 64,938 $ 4,802 Counterparty netting (d) (1,265) (1,265) (1,265) (1,265) Cash collateral (e) (1,625) (1,074) (903) (1,521) Total derivatives on condensed consolidated balance sheets (f) $ 996 $ 1,114 $ 1,809 $ 2,016 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b ) As of June 30, 2017 and December 31, 2016 , included CDSs on super senior multi-sector CDOs with a net notional amount of $ 750 million and $ 801 million (fair value liability of $ 280 million and $ 308 million), respectively. The expected weighted average maturity as of June 30, 2017 is six years. Because of long-term maturities of the 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 r epresents the maximum exposure to loss on the portfolio. As of June 30, 2017 and December 31, 2016 , there were no super senior corporate debt/CLOs remaining. (c) Consists primarily of stable value wraps and contracts with mu ltiple underlying exposures. (d) Represents netting of derivative exposures covered by a qualifying master netting agreement. (e) Represents cash collateral posted and received that is eligible for netting. (f) Freestanding derivatives only, excludes Embed ded derivatives. Derivative instrument assets and liabilities are recorded in Other Assets and Liabilities, respectively. Fair value of assets related to bifurcated Embedded derivatives was zero at both June 30, 2017 and December 31, 2 016. Fair value of liabilities related to bifurcated Embedded derivatives was $ 3.5 billion and $ 3.1 billion , respectively, at June 30, 2017 and December 31, 2016. A bifurcated Embedd ed derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets. Embedded derivatives are primarily related to guarantee features in variable annuity products, which include equity and interest rate components.
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 June 30, 2017 Interest rate contracts : Realized capital gains/(losses) $ 3 $ (3) $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - - - - - Gain/(Loss) on extinguishment of debt - - - - - Foreign exchange contracts : Realized capital gains/(losses) (213) 232 - 19 - Interest credited to policyholder account balances - - - - - Other income - 3 - - 3 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts : Realized capital gains/(losses) (24) 24 - - - Three Months Ended June 30, 2016 Interest rate contracts : Realized capital gains/(losses) $ - $ - $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - 5 - - 5 Gain/(Loss) on extinguishment of debt - - - - - Foreign exchange contracts : Realized capital gains/(losses) 389 (345) - 43 1 Interest credited to policyholder account balances - - - - - Other income - 5 - - 5 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts : Realized capital gains/(losses) 10 (7) - 3 - Six Months Ended June 30, 2017 Interest rate contracts : Realized capital gains/(losses) $ 2 $ (2) $ - $ - $ - Interest credited to policyholder account balances - - - - - Other income - - - - - Gain/(Loss) on extinguishment of debt - - - - - Foreign exchange contracts : Realized capital gains/(losses) (161) 190 - 29 - Interest credited to policyholder account balances - - - - - Other income - 4 - - 4 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts : Realized capital gains/(losses) (26) 24 - (2) - Six Months Ended June 30, 2016 Interest rate contracts : Realized capital gains/(losses) $ 1 $ (7) $ - $ - $ (6) Interest credited to policyholder account balances - - - - - Other income - 7 - - 7 Gain/(Loss) on extinguishment of debt - - - - - Foreign exchange contracts : Realized capital gains/(losses) 423 (409) - 14 - Interest credited to policyholder account balances - - - - - Other income - 12 - - 12 Gain/(Loss) on extinguishment of debt - - - - - Equity contracts : Realized capital gains/(losses) 20 (19) - 1 - (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 pr eviously-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 Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 By Derivative Type: Interest rate contracts $ 251 $ 603 $ 99 $ 1,373 Foreign exchange contracts (76) 182 (122) 154 Equity contracts (176) (141) (490) (272) Commodity contracts - - - - Credit contracts 21 28 36 34 Other contracts 18 20 36 36 Embedded derivatives (259) (513) (113) (1,285) Total $ (221) $ 179 $ (554) $ 40 By Classification: Policy fees $ 19 $ 20 $ 39 $ 40 Net investment income (5) 13 (7) 12 Net realized capital gains (losses) (316) 123 (700) 88 Other income (losses) 80 18 113 (112) Policyholder benefits and claims incurred 1 5 1 12 Total $ (221) $ 179 $ (554) $ 40

INSURANCE LIABILITIES (Tables)

INSURANCE LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2017
LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS
Schedule of reconciliation of activity in the liability for unpaid claims and claims adjustment expense	The following table presents the roll forward of activity in Loss Reserves: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 76,050 $ 73,946 $ 77,077 $ 74,942 Reinsurance recoverable (26,920) (14,212) (15,532) (14,339) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 49,130 59,734 61,545 60,603 Foreign exchange effect 463 360 358 200 Dispositions (a) - - - - Retroactive reinsurance adjustment (net of discount) (b) (299) - (11,460) - Total 49,294 60,094 50,443 60,803 Losses and loss adjustment expenses incurred : Current year 4,209 5,023 8,510 9,935 Prior years, excluding discount and amortization of deferred gain 391 6 453 (60) Prior years, discount charge (benefit) 260 300 235 291 Prior years, amortization of deferred gain on retroactive reinsurance (c) (82) - (120) - Total losses and loss adjustment expenses incurred 4,778 5,329 9,078 10,166 Losses and loss adjustment expenses paid : Current year (1,137) (2,378) (1,708) (2,958) Prior years (4,252) (3,423) (9,043) (8,389) Total losses and loss adjustment expenses paid (5,389) (5,801) (10,751) (11,347) Reclassified to liabilities held for sale (d) 79 - (8) - Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 48,762 59,622 48,762 59,622 Reinsurance recoverable 27,660 14,520 27,660 14,520 Total $ 76,422 $ 74,142 $ 76,422 $ 74,142 (a) Includes amounts related to dispositions through the date of disposition. Includes sale of UGC and Ascot. (b) Includes discount on retroactive reinsurance in the amount of $108 million and $1.5 billion for the three - and six-month periods ended June 3 0 , 2017, respectively . (c) Includes $10 million and $5 million for the 2011 retroactive reinsurance agreement with NICO covering U.S. asbestos exposures for the three - and six-month periods ended June 3 0 , 2017, respectively . ( d) Represents change in loss reserves included in our pending sale of certain of our insurance operations to Fairfax for the three - and six-month periods ended June 3 0 , 2017. Upon consummation of the sale, we may retain a portion of these reserves through reinsurance arrangements.
Schedule of loss reserve discount and loss reserve discount benefit (charge)	The following table prese nts the components of the loss reserve discount discussed above: June 30, 2017 December 31, 2016 Legacy Portfolio Legacy Portfolio U.S. Liability - Property and U.S. Liability - Property and and Casualty run-off and Casualty run-off (in millions) Financial Lines Insurance Lines Total Financial Lines Insurance Lines Total U.S. workers' compensation $ 2,450 $ 885 $ 3,335 $ 2,583 $ 987 $ 3,570 Retroactive reinsurance (1,547) - (1,547) - - - Total reserve discount * $ 903 $ 885 $ 1,788 $ 2,583 $ 987 $ 3,570 * Excludes $ 185 million and $181 million of discount related to certain long tail liabilities in the United Kingdom at June 30, 2017 and December 31, 2016, respecti vely. The following table s present increase (decrease) in the net loss reserve discount : Three Months Ended June 30, 2017 2016 Legacy Portfolio Legacy Portfolio U.S. Liability - Property and U.S. Liability - Property and and Casualty run-off and Casualty run-off (in millions) Financial Lines Insurance Lines Total Financial Lines Insurance Lines Total Current accident year $ 29 $ - $ 29 $ 33 $ - $ 33 Accretion and other adjustments to prior year discount (57) (43) (100) (47) (16) (63) Effect of interest rate changes (128) (61) (189) (177) (93) (270) Net reserve discount benefit (charge) (156) (104) (260) (191) (109) (300) Change in discount on loss reserves ceded under retroactive reinsurance (a) 108 - 108 - - - Net change in total reserve discount (b) $ (48) $ (104) $ (152) $ (191) $ (109) $ (300) Comprised of: U.S. Workers' compensation $ (48) $ (104) $ (152) $ (191) $ (108) $ (299) Asbestos $ - $ - $ - $ - $ (1) $ (1) Six Months Ended June 30, 2017 2016 Legacy Portfolio Legacy Portfolio U.S. Liability - Property and U.S. Liability - Property and and Casualty run-off and Casualty run-off (in millions) Financial Lines Insurance Lines Total Financial Lines Insurance Lines Total Current accident year $ 61 $ - $ 61 $ 81 $ - $ 81 Accretion and other adjustments to prior year discount (105) (59) (164) (61) (30) (91) Effect of interest rate changes (89) (43) (132) (185) (96) (281) Net reserve discount benefit (charge) (133) (102) (235) (165) (126) (291) Change in discount on loss reserves ceded under retroactive reinsurance (1,547) - (1,547) - - - Net change in total reserve discount (c) $ (1,680) $ (102) $ (1,782) $ (165) $ (126) $ (291) Comprised of: U.S. Workers' compensation $ (1,680) $ (102) $ (1,782) $ (165) $ (124) $ (289) Asbestos $ - $ - $ - $ - $ (2) $ (2) (a) Included in the deferred gain from retroactive reinsurance reported in other liabilities. ( b ) Excludes $4 million and $(42) million of discount related to certain long tail liabilities in the United Kingdom for the three-month period ended June 30, 2017 and 2016, respectively. ( c ) Excludes $(4) million and $(15) million of discount related to certain long tail liabilities in the United Kingdom for the six-month period ended June 30, 2017 and 2016, respectively.

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2017
EQUITY
Rollforward of common stock outstanding	Six Months Ended June 30, 2017 Common Treasury Common Stock Stock Issued Stock Outstanding Shares, beginning of year 1,906,671,492 (911,335,651) 995,335,841 Shares issued - 3,189,425 3,189,425 Shares repurchased - (95,132,646) (95,132,646) Shares, end of period 1,906,671,492 (1,003,278,872) 903,392,620
Dividends Paid	The following table presents record date, payment date and dividends paid per share on AIG Common Stock: Dividends Paid Record Date Payment Date Per Share June 14, 2017 June 28, 2017 0.32 March 15, 2017 March 29, 2017 0.32 June 13, 2016 June 27, 2016 0.32 March 14, 2016 March 28, 2016 0.32
Repurchases Of Common Stock and Warrant	The following table presents repurchases of AIG Common Stock and warrants to purchase shares of AIG Common Stock: Six Months Ended June 30, (in millions) 2017 2016 Aggregate repurchases of common stock $ 6,000 $ 6,248 Total number of common shares repurchased 95 113 Aggregate repurchases of warrants $ - $ 263 Total number of warrants repurchased - 15
Accumulated Other Comprehensive Income (Loss)	Unrealized Appreciation (Depreciation) of Fixed Maturity Securities 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, 2016, net of tax $ 426 $ 6,405 $ (2,629) $ (972) $ 3,230 Change in unrealized appreciation of investments 341 2,838 - - 3,179 Change in deferred policy acquisition costs adjustment and other * 17 (998) - - (981) Change in future policy benefits - (539) - - (539) Change in foreign currency translation adjustments - - 146 - 146 Change in net actuarial loss - - - 38 38 Change in prior service cost - - - 6 6 Change in deferred tax asset (liability) (125) 47 (24) (15) (117) Total other comprehensive income 233 1,348 122 29 1,732 Noncontrolling interests - - - - - Balance, June 30, 2017, net of tax $ 659 $ 7,753 $ (2,507) $ (943) $ 4,962 Balance, December 31, 2015, net of tax $ 696 $ 5,566 $ (2,879) $ (846) $ 2,537 Change in unrealized appreciation (depreciation) of investments (491) 9,499 - - 9,008 Change in deferred policy acquisition costs adjustment and other (8) (682) - - (690) Change in future policy benefits - (1,583) - - (1,583) Change in foreign currency translation adjustments - - 158 - 158 Change in net actuarial loss - - - 11 11 Change in prior service credit - - - (13) (13) Change in deferred tax asset (liability) 172 (1,398) 63 (6) (1,169) Total other comprehensive income (loss) (327) 5,836 221 (8) 5,722 Noncontrolling interests - - - - - Balance, June 30, 2016, net of tax $ 369 $ 11,402 $ (2,658) $ (854) $ 8,259 * In cludes net unrealized gains attributable to businesses held for sale.
Other comprehensive income (loss) reclassification adjustments	Unrealized Appreciation (Depreciation) of Fixed Maturity Securities 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 June 30, 2017 Unrealized change arising during period $ 203 $ 944 $ 450 $ 6 $ 1,603 Less: Reclassification adjustments included in net income 20 285 - (10) 295 Total other comprehensive income, before income tax expense 183 659 450 16 1,308 Less: Income tax expense 64 6 52 5 127 Total other comprehensive income, net of income tax expense $ 119 $ 653 $ 398 $ 11 $ 1,181 Three Months Ended June 30, 2016 Unrealized change arising during period $ 59 $ 4,277 $ 290 $ (11) $ 4,615 Less: Reclassification adjustments included in net income 25 1,038 - (4) 1,059 Total other comprehensive income (loss), before income tax expense (benefit) 34 3,239 290 (7) 3,556 Less: Income tax expense (benefit) 12 830 (23) 3 822 Total other comprehensive income (loss), net of income tax expense (benefit) $ 22 $ 2,409 $ 313 $ (10) $ 2,734 Six Months Ended June 30, 2017 Unrealized change arising during period $ 393 $ 1,779 $ 146 $ 24 $ 2,342 Less: Reclassification adjustments included in net income 35 478 - (20) 493 Total other comprehensive income, before income tax expense (benefit) 358 1,301 146 44 1,849 Less: Income tax expense (benefit) 125 (47) 24 15 117 Total other comprehensive income, net of income tax expense (benefit) $ 233 $ 1,348 $ 122 $ 29 $ 1,732 Six Months Ended June 30, 2016 Unrealized change arising during period $ (399) $ 7,917 $ 158 $ (10) $ 7,666 Less: Reclassification adjustments included in net income 100 683 - (8) 775 Total other comprehensive income (loss), before income tax expense (benefit) (499) 7,234 158 (2) 6,891 Less: Income tax expense (benefit) (172) 1,398 (63) 6 1,169 Total other comprehensive income (loss), net of income tax expense (benefit) $ (327) $ 5,836 $ 221 $ (8) $ 5,722
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 Three Months Ended June 30, (in millions) 2017 2016 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 20 $ 25 Other realized capital gains Total 20 25 Unrealized appreciation (depreciation) of all other investments Investments 227 1,074 Other realized capital gains Deferred acquisition costs adjustment 58 (36) Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 285 1,038 Change in retirement plan liabilities adjustment Prior - service credit 1 5 * Actuarial losses (11) (9) * Total (10) (4) Total reclassifications for the period $ 295 $ 1,059 Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income Six Months Ended June 30, (in millions) 2017 2016 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 35 $ 100 Other realized capital gains Total 35 100 Unrealized appreciation (depreciation) of all other investments Investments 367 661 Other realized capital gains Deferred acquisition costs adjustment 111 22 Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 478 683 Change in retirement plan liabilities adjustment Prior - service credit 1 9 * Actuarial losses (21) (17) * Total (20) (8) - Total reclassifications for the period $ 493 $ 775 - * These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 14 to the Condensed Consolidated Financial Statements .

EARNINGS PER SHARE (EPS) (Table

EARNINGS PER SHARE (EPS) (Tables)	6 Months Ended
	Jun. 30, 2017
EARNINGS PER SHARE (EPS)
Computation of basic and diluted EPS	Three Months Ended Six Months Ended June 30, June 30, (dollars in millions, except per share data) 2017 2016 2017 2016 Numerator for EPS: Income from continuing operations $ 1,110 $ 1,934 $ 2,321 $ 1,778 Less: Net income (loss) from continuing operations attributable to noncontrolling interests (12) 11 14 (9) Income attributable to AIG common shareholders from continuing operations 1,122 1,923 2,307 1,787 Income (loss) from discontinued operations, net of income tax expense 8 (10) 8 (57) Net income attributable to AIG common shareholders 1,130 1,913 2,315 1,730 Denominator for EPS: Weighted average shares outstanding - basic 925,751,084 1,113,587,927 953,109,915 1,135,068,193 Dilutive shares 22,497,687 26,458,046 23,517,737 28,021,555 Weighted average shares outstanding - diluted * 948,248,771 1,140,045,973 976,627,652 1,163,089,748 Income per common share attributable to AIG: Basic: Income from continuing operations $ 1.21 $ 1.73 $ 2.42 $ 1.57 Income (loss) from discontinued operations $ 0.01 $ (0.01) $ 0.01 $ (0.05) Net income attributable to AIG $ 1.22 $ 1.72 $ 2.43 $ 1.52 Diluted: Income from continuing operations $ 1.18 $ 1.69 $ 2.36 $ 1.54 Income (loss) from discontinued operations $ 0.01 $ (0.01) $ 0.01 $ (0.05) Net income attributable to AIG $ 1.19 $ 1.68 $ 2.37 $ 1.49 * 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 1.9 million and 1.8 mi llion for the three - and six - m onth periods ended June 30, 2017 , respectively, and 0.1 million and 0.3 mi llion for the three - and six - month periods end ed June 30, 2016 , respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
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 June 30, 2017 Components of net periodic benefit cost: Service cost $ 7 $ 8 $ 15 $ 1 $ - $ 1 Interest cost 42 4 46 1 1 2 Expected return on assets (64) (6) (70) - - - Amortization of prior service credit - - - (1) - (1) Amortization of net (gain) loss 7 3 10 - - - Curtailment loss - - - - - - Net periodic benefit cost (credit) $ (8) $ 9 $ 1 $ 1 $ 1 $ 2 Three Months Ended June 30, 2016 Components of net periodic benefit cost: Service cost $ 5 $ 7 $ 12 $ - $ 1 $ 1 Interest cost 45 5 50 2 1 3 Expected return on assets (74) (6) (80) - - - Amortization of prior service credit - - - (3) - (3) Amortization of net loss 6 2 8 - - - Curtailment gain - (1) (1) - - - Net periodic benefit cost (credit) $ (18) $ 7 $ (11) $ (1) $ 2 $ 1 Six Months Ended June 30, 2017 Components of net periodic benefit cost: Service cost $ 13 $ 16 $ 29 $ 1 $ 1 $ 2 Interest cost 85 8 93 3 2 5 Expected return on assets (128) (12) (140) - - - Amortization of prior service credit - - - (1) - (1) Amortization of net (gain) loss 14 6 20 - - - Curtailment loss - - - - - - Net periodic benefit cost (credit) $ (16) $ 18 $ 2 $ 3 $ 3 $ 6 Six Months Ended June 30, 2016 Components of net periodic benefit cost: Service cost $ 9 $ 15 $ 24 $ 1 $ 2 $ 3 Interest cost 91 10 101 3 2 5 Expected return on assets (147) (13) (160) - - - Amortization of prior service credit - - - (5) - (5) Amortization of net loss 12 4 16 - - - Curtailment gain - (3) (3) - - - Net periodic benefit cost (credit) $ (35) $ 13 $ (22) $ (1) $ 4 $ 3

INFORMATION PROVIDED IN CONNE40

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 Assets: Short-term investments $ 4,478 $ - $ 11,024 $ (3,408) $ 12,094 Other investments (a) 5,563 - 303,089 - 308,652 Total investments 10,041 - 314,113 (3,408) 320,746 Cash 5 11 2,501 - 2,517 Loans to subsidiaries (b) 34,565 - 505 (35,070) - Investment in consolidated subsidiaries (b) 44,763 29,407 - (74,170) - Other assets, including deferred income taxes 20,277 247 157,434 (2,014) 175,944 Assets held for sale - - 555 - 555 Total assets $ 109,651 $ 29,665 $ 475,108 $ (114,662) $ 499,762 Liabilities: Insurance liabilities $ - $ - $ 277,574 $ - $ 277,574 Long-term debt 22,117 642 9,053 - 31,812 Other liabilities, including intercompany balances (a) 13,297 195 107,327 (5,594) 115,225 Loans from subsidiaries (b) 505 - 34,565 (35,070) - Liabilities held for sale - - 827 - 827 Total liabilities 35,919 837 429,346 (40,664) 425,438 Total AIG shareholders’ equity 73,732 28,828 45,170 (73,998) 73,732 Non-redeemable noncontrolling interests - - 592 - 592 Total equity 73,732 28,828 45,762 (73,998) 74,324 Total liabilities and equity $ 109,651 $ 29,665 $ 475,108 $ (114,662) $ 499,762 December 31, 2016 Assets: Short-term investments $ 4,424 $ - $ 13,218 $ (5,340) $ 12,302 Other investments (a) 7,154 - 308,719 - 315,873 Total investments 11,578 - 321,937 (5,340) 328,175 Cash 2 34 1,832 - 1,868 Loans to subsidiaries (b) 34,692 - 576 (35,268) - Investment in consolidated subsidiaries (b) 42,582 27,309 - (69,891) - Other assets, including deferred income taxes 24,099 239 140,743 (4,059) 161,022 Assets held for sale - - 7,199 - 7,199 Total assets $ 112,953 $ 27,582 $ 472,287 $ (114,558) $ 498,264 Liabilities: Insurance liabilities $ - $ - $ 275,120 $ - $ 275,120 Long-term debt 21,405 642 8,865 - 30,912 Other liabilities, including intercompany balances (a) 14,671 194 103,975 (9,572) 109,268 Loans from subsidiaries (b) 577 - 34,691 (35,268) - Liabilities held for sale - - 6,106 - 6,106 Total liabilities 36,653 836 428,757 (44,840) 421,406 Total AIG shareholders’ equity 76,300 26,746 42,972 (69,718) 76,300 Non-redeemable noncontrolling interests - - 558 - 558 Total equity 76,300 26,746 43,530 (69,718) 76,858 Total liabilities and equity $ 112,953 $ 27,582 $ 472,287 $ (114,558) $ 498,264 (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 June 30, 2017 Revenues: Equity in earnings of consolidated subsidiaries * $ 1,430 $ 815 $ - $ (2,245) $ - Other income 232 - 12,248 22 12,502 Total revenues 1,662 815 12,248 (2,223) 12,502 Expenses: Interest expense 241 13 39 (1) 292 Gain on extinguishment of debt - - (4) - (4) Other expenses 181 - 10,386 (20) 10,547 Total expenses 422 13 10,421 (21) 10,835 Income (loss) from continuing operations before income tax expense (benefit) 1,240 802 1,827 (2,202) 1,667 Income tax expense (benefit) 109 (4) 452 - 557 Income (loss) from continuing operations 1,131 806 1,375 (2,202) 1,110 Income (loss) from discontinued operations, net of income taxes (1) - 9 - 8 Net income (loss) 1,130 806 1,384 (2,202) 1,118 Less: Net loss from continuing operations attributable to noncontrolling interests - - (12) - (12) Net income (loss) attributable to AIG $ 1,130 $ 806 $ 1,396 $ (2,202) $ 1,130 Three Months Ended June 30, 2016 Revenues: Equity in earnings of consolidated subsidiaries * $ 2,168 $ 888 $ - $ (3,056) $ - Other income 127 - 14,843 (246) 14,724 Total revenues 2,295 888 14,843 (3,302) 14,724 Expenses: Interest expense 250 13 59 (2) 320 Loss on extinguishment of debt - - 7 - 7 Other expenses 257 7 11,520 (245) 11,539 Total expenses 507 20 11,586 (247) 11,866 Income (loss) from continuing operations before income tax expense (benefit) 1,788 868 3,257 (3,055) 2,858 Income tax expense (benefit) (125) (7) 1,056 - 924 Income (loss) from continuing operations 1,913 875 2,201 (3,055) 1,934 Loss from discontinued operations, net of income taxes - - (10) - (10) Net income (loss) 1,913 875 2,191 (3,055) 1,924 Less: Net income from continuing operations attributable to noncontrolling interests - - 11 - 11 Net income (loss) attributable to AIG $ 1,913 $ 875 $ 2,180 $ (3,055) $ 1,913 American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Six Months Ended June 30, 2017 Revenues: Equity in earnings of consolidated subsidiaries * $ 2,892 $ 1,415 $ - $ (4,307) $ - Other income 428 - 24,630 76 25,134 Total revenues 3,320 1,415 24,630 (4,231) 25,134 Expenses: Interest expense 483 25 85 (3) 590 Gain on extinguishment of debt - - (5) - (5) Other expenses 516 1 20,711 (73) 21,155 Total expenses 999 26 20,791 (76) 21,740 Income (loss) from continuing operations before income tax expense (benefit) 2,321 1,389 3,839 (4,155) 3,394 Income tax expense (benefit) 5 (8) 1,076 - 1,073 Income (loss) from continuing operations 2,316 1,397 2,763 (4,155) 2,321 Income (loss) from discontinued operations, net of income taxes (1) - 9 - 8 Net income (loss) 2,315 1,397 2,772 (4,155) 2,329 Less: Net income from continuing operations attributable to noncontrolling interests - - 14 - 14 Net income (loss) attributable to AIG $ 2,315 $ 1,397 $ 2,758 $ (4,155) $ 2,315 Six Months Ended June 30, 2016 Revenues: Equity in earnings of consolidated subsidiaries * $ 1,224 $ (795) $ - $ (429) $ - Other income 64 5 26,881 (447) 26,503 Total revenues 1,288 (790) 26,881 (876) 26,503 Expenses: Interest expense 494 27 108 (3) 626 Loss on extinguishment of debt 77 - 13 - 90 Other expenses 448 14 23,125 (444) 23,143 Total expenses 1,019 41 23,246 (447) 23,859 Income (loss) from continuing operations before income tax expense (benefit) 269 (831) 3,635 (429) 2,644 Income tax expense (benefit) (1,462) (13) 2,341 - 866 Income (loss) from continuing operations 1,731 (818) 1,294 (429) 1,778 Loss from discontinued operations, net of income taxes (1) - (56) - (57) Net income (loss) 1,730 (818) 1,238 (429) 1,721 Less: Net loss from continuing operations attributable to noncontrolling interests - - (9) - (9) Net income (loss) attributable to AIG $ 1,730 $ (818) $ 1,247 $ (429) $ 1,730 * 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 June 30, 2017 Net income (loss) $ 1,130 $ 806 $ 1,384 $ (2,202) $ 1,118 Other comprehensive income (loss) 1,181 1,122 (1,541) 419 1,181 Comprehensive income (loss) 2,311 1,928 (157) (1,783) 2,299 Total comprehensive loss attributable to noncontrolling interests - - (12) - (12) Comprehensive income (loss) attributable to AIG $ 2,311 $ 1,928 $ (145) $ (1,783) $ 2,311 Three Months Ended June 30, 2016 Net income (loss) $ 1,913 $ 875 $ 2,191 $ (3,055) $ 1,924 Other comprehensive income (loss) 2,734 7,734 (7,006) (728) 2,734 Comprehensive income (loss) 4,647 8,609 (4,815) (3,783) 4,658 Total comprehensive income attributable to noncontrolling interests - - 11 - 11 Comprehensive income (loss) attributable to AIG $ 4,647 $ 8,609 $ (4,826) $ (3,783) $ 4,647 Six Months Ended June 30, 2017 Net income (loss) $ 2,315 $ 1,397 $ 2,772 $ (4,155) $ 2,329 Other comprehensive income (loss) 1,732 5,782 49,489 (55,271) 1,732 Comprehensive income (loss) 4,047 7,179 52,261 (59,426) 4,061 Total comprehensive income attributable to noncontrolling interests - - 14 - 14 Comprehensive income (loss) attributable to AIG $ 4,047 $ 7,179 $ 52,247 $ (59,426) $ 4,047 Six Months Ended June 30, 2016 Net income (loss) $ 1,730 $ (818) $ 1,238 $ (429) $ 1,721 Other comprehensive income (loss) 5,722 7,260 48,548 (55,808) 5,722 Comprehensive income (loss) 7,452 6,442 49,786 (56,237) 7,443 Total comprehensive loss attributable to noncontrolling interests - - (9) - (9) Comprehensive income (loss) attributable to AIG $ 7,452 $ 6,442 $ 49,795 $ (56,237) $ 7,452
Condensed Consolidating Statements of Cash Flows	American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries * Eliminations * AIG Six Months Ended June 30, 2017 Net cash (used in) provided by operating activities $ 665 $ 629 $ (9,222) $ (1,357) $ (9,285) Cash flows from investing activities: Sales of investments 5,030 - 45,014 (3,398) 46,646 Sales of divested businesses, net - - 538 - 538 Purchase of investments (1,158) - (34,591) 3,398 (32,351) Loans to subsidiaries - net 350 - 73 (423) - Contributions from (to) subsidiaries - net 931 - - (931) - Net change in restricted cash - - (44) - (44) Net change in short-term investments 402 - 645 - 1,047 Other, net (46) - (871) - (917) Net cash (used in) provided by investing activities 5,509 - 10,764 (1,354) 14,919 Cash flows from financing activities: Issuance of long-term debt 1,108 - 1,113 - 2,221 Repayments of long-term debt (606) - (1,000) - (1,606) Purchase of common stock (6,000) - - - (6,000) Intercompany loans - net (73) - (350) 423 - Cash dividends paid (597) (652) (705) 1,357 (597) Other, net (3) - 27 931 955 Net cash (used in) provided by financing activities (6,171) (652) (915) 2,711 (5,027) Effect of exchange rate changes on cash - - (24) - (24) Change in cash 3 (23) 603 - 583 Cash at beginning of year 2 34 1,832 - 1,868 Change in cash of businesses held for sale - - 66 - 66 Cash at end of period $ 5 $ 11 $ 2,501 $ - $ 2,517 Six Months Ended June 30, 2016 Net cash (used in) provided by operating activities $ 2,734 $ 680 $ (1,022) $ (1,821) $ 571 Cash flows from investing activities: Sales of investments 1,944 - 39,689 (6,846) 34,787 Purchase of investments (606) - (40,877) 6,846 (34,637) Loans to subsidiaries - net 1,050 - 180 (1,230) - Contributions from (to) subsidiaries - net 880 - - (880) - Net change in restricted cash - - (78) - (78) Net change in short-term investments (733) - (1,022) - (1,755) Other, net (298) - 1,717 - 1,419 Net cash (used in) provided by investing activities 2,237 - (391) (2,110) (264) Cash flows from financing activities: Issuance of long-term debt 3,832 - 2,856 - 6,688 Repayments of long-term debt (1,421) (63) (1,435) - (2,919) Purchase of common stock (6,248) - - - (6,248) Intercompany loans - net (180) (3) (1,047) 1,230 - Cash dividends paid (713) (724) (1,097) 1,821 (713) Other, net (263) - 2,385 880 3,002 Net cash (used in) provided by financing activities (4,993) (790) 1,662 3,931 (190) Effect of exchange rate changes on cash - - 38 - 38 Change in cash (22) (110) 287 - 155 Cash at beginning of year 34 116 1,479 - 1,629 Cash at end of period $ 12 $ 6 $ 1,766 $ - $ 1,784
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 2017 period for: Interest: Third party $ (513) $ - $ (169) $ - $ (682) Intercompany - - - - - Taxes: Income tax authorities $ (280) $ - $ (122) $ - $ (402) Intercompany 1,495 - (1,495) - - Cash (paid) received during the 2016 period for: Interest: Third party $ (515) $ (27) $ (108) $ - $ (650) Intercompany - - - - - Taxes: Income tax authorities $ (7) $ - $ (110) $ - $ (117) Intercompany 629 - (629) - -
Supplementary disclosure of non-cash activities	Six Months Ended June 30, (in millions) 2017 2016 Intercompany non-cash financing and investing activities: Capital contributions $ 198 $ 2,915 Dividends received in the form of securities 735 1,790 Return of capital 26 1 Fixed maturity securities received in exchange for equity securities - 440

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	Jun. 30, 2017item$ / shares	Dec. 31, 2016$ / shares
Basis of Presentation [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 2.5	$ 2.5
Minimum
Basis of Presentation [Line Items]
Number of Countries in which the entity operates | item	80

SEGMENT INFORMATION (Details -

SEGMENT INFORMATION (Details - Continuing operations by reportable segment) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment results
Total Revenues	$ 12,502	$ 14,724	$ 25,134	$ 26,503
Pre-tax operating income	1,667	2,858	3,394	2,644
Consolidation and Eliminations
Segment results
Total Revenues	(54)	(131)	(118)	(262)
Pre-tax operating income	28	(14)	76	6
Total AIG Consolidated revenues and pre-tax operating income (loss)
Segment results
Total Revenues	12,496	13,569	25,231	26,306
Pre-tax operating income	2,133	1,920	4,174	2,865
Commercial Insurance
Segment results
Total Revenues	4,533	5,544	9,216	10,842
Pre-tax operating income	716	941	1,565	1,603
Commercial Insurance | Reportable Segments | Liability And Financial Lines [Member]
Segment results
Total Revenues	2,747	3,428	5,595	6,739
Pre-tax operating income	586	815	1,160	1,384
Commercial Insurance | Reportable Segments | Property And Special Risks [Member]
Segment results
Total Revenues	1,786	2,116	3,621	4,103
Pre-tax operating income	130	126	405	219
Consumer Insurance
Segment results
Total Revenues	5,980	6,132	11,922	12,023
Pre-tax operating income	1,260	948	2,308	1,652
Consumer Insurance | Reportable Segments | Individual Retirement [Member]
Segment results
Total Revenues	1,383	1,509	2,756	3,002
Pre-tax operating income	558	505	1,097	807
Consumer Insurance | Reportable Segments | Group Retirement [Member]
Segment results
Total Revenues	696	707	1,414	1,336
Pre-tax operating income	266	265	509	456
Consumer Insurance | Reportable Segments | Life Insurance [Member]
Segment results
Total Revenues	1,030	988	2,043	1,941
Pre-tax operating income	106	26	160	27
Consumer Insurance | Reportable Segments | Personal Insurance [Member]
Segment results
Total Revenues	2,871	2,928	5,709	5,744
Pre-tax operating income	330	152	542	362
Other Operations
Segment results
Total Revenues	899	1,014	1,989	2,012
Pre-tax operating income	(302)	(162)	(548)	(401)
Legacy Portfolio
Segment results
Total Revenues	1,138	1,010	2,222	1,691
Pre-tax operating income	$ 431	$ 207	$ 773	$ 5

SEGMENT INFORMATION (Details 43

SEGMENT INFORMATION (Details - Continuing operations by reportable segment - Pretax operating income to pre-tax income)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Gain (Loss) on extinguishment of debt	$ 4	$ (7)	$ 5	$ (90)
Income (loss) from divested businesses	(60)	225	(160)	223
Net reserve discount (benefit) charge	(260)	(300)	(235)	(291)
Pre-tax operating income	1,667	2,858	3,394	2,644
Reconciling items from pre-tax operating income to 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 securities used to hedge guaranteed living benefits	80	120	91	253
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	0	0	0	0
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements	0	0	0	0
Gain (Loss) on extinguishment of debt	0	0	0	0
Net realized capital gains (losses)	(69)	1,042	(184)	(64)
Income (loss) from divested businesses	0	0	0	0
Non-operating litigation reserves and settlements	6	7	16	41
Net reserve discount (benefit) charge	0	0	0	0
Restructuring and other costs	0	0	0	0
Other	(11)	(14)	(20)	(33)
Reconciling items from pre-tax operating income to 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 securities used to hedge guaranteed living benefits	80	120	91	253
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	58	(64)	111	(24)
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements	(251)	5	(265)	12
Gain (Loss) on extinguishment of debt	4	(7)	5	(90)
Net realized capital gains (losses)	(69)	1,042	(184)	(64)
Income (loss) from divested businesses	(60)	225	(160)	223
Non-operating litigation reserves and settlements	80	7	86	38
Net reserve discount (benefit) charge	(260)	(300)	(235)	(291)
Pension expense related to a one-time lump sum payment to former employees	(1)		(1)
Restructuring and other costs	(47)	(90)	(228)	(278)
Other	$ 0	$ 0	$ 0	$ 0

HELD-FOR-SALE CLASSIFICATION (D

HELD-FOR-SALE CLASSIFICATION (Details) - USD ($)	Jul. 01, 2017	Jun. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Mar. 31, 2017	Aug. 15, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015
Assets:
Mortgage and other loans receivable, net		$ 34,642,000,000	$ 34,642,000,000	$ 33,240,000,000
Other invested assets		23,132,000,000	23,132,000,000	24,538,000,000
Short-term investments		12,094,000,000	12,094,000,000	12,302,000,000
Cash		2,517,000,000	2,517,000,000	1,868,000,000			$ 1,784,000,000		$ 1,629,000,000
Accrued investment income		2,337,000,000	2,337,000,000	2,495,000,000
Premiums and other receivables, net of allowance		10,921,000,000	10,921,000,000	10,465,000,000
Reinsurance assets, net of allowance		34,510,000,000	34,510,000,000	21,901,000,000
Deferred policy acquisition costs		11,063,000,000	11,063,000,000	11,042,000,000
Other assets		9,852,000,000	9,852,000,000	10,815,000,000
Total assets held for sale		555,000,000	555,000,000	7,199,000,000
Liabilities:
Liability for unpaid losses and loss adjustment expenses		76,422,000,000	76,422,000,000	77,077,000,000	$ 76,050,000,000		$ 74,142,000,000	$ 73,946,000,000	$ 74,942,000,000
Unearned premiums		19,992,000,000	19,992,000,000	19,634,000,000
Future policy benefits for life and accident and health insurance contracts		43,252,000,000	43,252,000,000	42,204,000,000
Other policyholder funds		4,613,000,000	4,613,000,000	3,989,000,000
Long-term Debt		31,812,000,000	31,812,000,000	30,912,000,000
Other Liabilities		28,135,000,000	28,135,000,000	26,296,000,000
Total liabilities held for sale		827,000,000	827,000,000	6,106,000,000
Held for sale [Member]
Assets:
Fixed maturity securities		147,000,000	147,000,000	6,045,000,000
Equity Securities		9,000,000	9,000,000	149,000,000
Mortgage and other loans receivable, net		2,000,000	2,000,000	137,000,000
Other invested assets		33,000,000	33,000,000	2,000,000
Short-term investments		137,000,000	137,000,000	130,000,000
Cash		67,000,000	67,000,000	133,000,000
Accrued investment income		3,000,000	3,000,000	21,000,000
Premiums and other receivables, net of allowance		276,000,000	276,000,000	351,000,000
Reinsurance assets, net of allowance		0	0	8,000,000
Deferred policy acquisition costs		0	0	471,000,000
Other assets		41,000,000	41,000,000	273,000,000
Assets of businesses held for sale		715,000,000	715,000,000	7,720,000,000
Less: Loss Accrual		(160,000,000)	(160,000,000)	(521,000,000)
Total assets held for sale		555,000,000	555,000,000	7,199,000,000
Liabilities:
Liability for unpaid losses and loss adjustment expenses		410,000,000	410,000,000	402,000,000
Unearned premiums		274,000,000	274,000,000	297,000,000
Future policy benefits for life and accident and health insurance contracts		0	0	4,579,000,000
Other policyholder funds		0	0	378,000,000
Long-term Debt		6,000,000	6,000,000	0
Other Liabilities		137,000,000	137,000,000	450,000,000
Total liabilities held for sale		827,000,000	827,000,000	6,106,000,000
Excluded net intercompany assets		394,000,000	394,000,000	384,000,000
United Guaranty | Held for sale [Member]
Held-for-Sale Classification
Voting interest in subsidiary, Percent						100.00%
Consideration in cash	$ 40,000,000
Cash consideration retained by buyer				$ 40,000,000
Certain insurance operations | Held for sale [Member]
Held-for-Sale Classification
Consideration in cash		$ 48,000,000	$ 234,000,000

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details - Assets and Liabilities Measured at Fair Value on a Recurring Basis) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	$ 235,289		$ 235,289		$ 241,537
Other bond securities	13,478		13,478		13,998
Equity securities available for sale	1,605		1,605		2,078
Other equity securities	506		506		482
Other invested assets	6,600		6,600		6,946
Derivative Assets, Fair Value	3,886		3,886		3,977
Derivative assets, Counterparty netting	(1,265)		(1,265)		(1,265)
Derivative assets, Cash collateral	(1,625)		(1,625)		(903)
Short-term investments, portion measured at fair value	3,405		3,405		3,341
Separate account assets, at fair value	87,090		87,090		82,972
Other assets	996		996		1,809
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	3,531		3,531		3,058
Other policyholder funds	4,613		4,613		3,989
Derivative Liabilities, Fair Value	3,453		3,453		4,802
Derivative liabilities, Counterparty netting	(1,265)		(1,265)		(1,265)
Derivative liabilities, Cash collateral	(1,074)		(1,074)		(1,521)
Long-term debt, portion measured at fair value	3,085		3,085		3,428
Other liabilities	1,854		1,854		2,016
U.S. government and government sponsored entities
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	50	$ 16	113	$ 16
Non-U.S. government
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	0	229	53	312
Preferred Stock
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	126		126
Recurring Basis
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 2 to Level 1	0	$ 0	0	$ 0
Recurring Basis | Level 1
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	407		407		115
Other bond securities	359		359		0
Equity securities available for sale	1,066		1,066		2,068
Other equity securities	506		506		482
Mortgage and other loans receivable	0		0
Other invested assets	0		0		0
Derivative Assets, Fair Value	273		273		188
Short-term investments, portion measured at fair value	2,596		2,596		2,660
Separate account assets, at fair value	82,031		82,031		77,318
Other assets	0		0
Fair value assets measured on recurring basis, total	87,238		87,238		82,831
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0		0
Other policyholder funds	0		0		5
Derivative Liabilities, Fair Value	42		42		12
Long-term debt, portion measured at fair value	0		0		0
Other liabilities	380		380		0
Fair value liabilities measured on recurring basis, total	422		422		17
Recurring Basis | Level 1 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	4		4		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1		1		0
Recurring Basis | Level 1 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 1 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	269		269		188
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	41		41		12
Recurring Basis | Level 1 | Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 1 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 1 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 1 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1		1		63
Other bond securities	359		359		0
Recurring Basis | Level 1 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis | Level 1 | Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	406		406		52
Other bond securities	0		0		0
Recurring Basis | Level 1 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis | Level 1 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis | Level 1 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		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		0
Other bond securities	0		0		0
Recurring Basis | Level 1 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	977		977		1,056
Recurring Basis | Level 1 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	19		19		752
Recurring Basis | Level 1 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	70		70		260
Recurring Basis | Level 2
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	205,920		205,920		211,451
Other bond securities	6,281		6,281		6,518
Equity securities available for sale	532		532		10
Other equity securities	0		0		0
Mortgage and other loans receivable	0		0
Other invested assets	2		2		1
Derivative Assets, Fair Value	3,526		3,526		3,713
Short-term investments, portion measured at fair value	809		809		681
Separate account assets, at fair value	5,059		5,059		5,654
Other assets	0		0		0
Fair value assets measured on recurring basis, total	222,129		222,129		228,028
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	13		13		25
Other policyholder funds	0		0		0
Derivative Liabilities, Fair Value	3,073		3,073		4,405
Long-term debt, portion measured at fair value	3,024		3,024		3,357
Other liabilities	360		360		0
Fair value liabilities measured on recurring basis, total	6,470		6,470		7,787
Recurring Basis | Level 2 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	2,355		2,355		2,328
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,870		1,870		3,039
Recurring Basis | Level 2 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	974		974		1,320
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,201		1,201		1,358
Recurring Basis | Level 2 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	197		197		59
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	2		2		7
Recurring Basis | Level 2 | Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 2 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 2 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		6
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		1
Recurring Basis | Level 2 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,355		2,355		1,929
Other bond securities	2,821		2,821		2,939
Recurring Basis | Level 2 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	17,437		17,437		22,732
Other bond securities	0		0		0
Recurring Basis | Level 2 | Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	14,721		14,721		14,466
Other bond securities	54		54		51
Recurring Basis | Level 2 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	131,118		131,118		131,047
Other bond securities	1,820		1,820		1,755
Recurring Basis | Level 2 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	19,673		19,673		20,468
Other bond securities	457		457		420
Recurring Basis | Level 2 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	12,428		12,428		12,231
Other bond securities	410		410		448
Recurring Basis | Level 2 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	8,188		8,188		8,578
Other bond securities	719		719		905
Recurring Basis | Level 2 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		9
Recurring Basis | Level 2 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	529		529		0
Recurring Basis | Level 2 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	3		3		1
Recurring Basis | Level 3
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	28,962		28,962		29,971
Other bond securities	6,838		6,838		7,480
Equity securities available for sale	7		7		0
Other equity securities	0		0		0
Mortgage and other loans receivable	5		5		11
Other invested assets	225		225		204
Derivative Assets, Fair Value	87		87		76
Short-term investments, portion measured at fair value	0		0		0
Separate account assets, at fair value	0		0
Other assets	0		0
Fair value assets measured on recurring basis, total	36,124		36,124		37,742
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	3,518		3,518		3,033
Other policyholder funds	0		0		0
Derivative Liabilities, Fair Value	338		338		385
Long-term debt, portion measured at fair value	61		61		71
Other liabilities	0		0		0
Fair value liabilities measured on recurring basis, total	3,917		3,917		3,489
Recurring Basis | Level 3 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	30		30		38
Recurring Basis | Level 3 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	7		7		11
Recurring Basis | Level 3 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	63		63		58
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 3 | Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 3 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	2		2		2
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	295		295		331
Recurring Basis | Level 3 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	22		22		16
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	6		6		5
Recurring Basis | Level 3 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis | Level 3 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,285		2,285		2,040
Other bond securities	0		0		0
Recurring Basis | Level 3 | Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	12		12		17
Other bond securities	0		0		0
Recurring Basis | Level 3 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	932		932		1,133
Other bond securities	28		28		17
Recurring Basis | Level 3 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	16,393		16,393		16,906
Other bond securities	1,510		1,510		1,605
Recurring Basis | Level 3 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	735		735		2,040
Other bond securities	66		66		155
Recurring Basis | Level 3 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	8,605		8,605		7,835
Other bond securities	5,234		5,234		5,703
Recurring Basis | Level 3 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	7		7		0
Recurring Basis | Level 3 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		0
Recurring Basis | Level 3 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		0
Recurring Basis | Counterparty Netting
Fair Value, Assets Measured on Recurring Basis
Other bond securities	0		0
Equity securities available for sale	0		0
Other equity securities	0		0
Other invested assets	0		0
Derivative assets, Counterparty netting	(1,265)		(1,265)		(1,265)
Separate account assets, at fair value	0		0
Other assets	0		0
Fair value assets measured on recurring basis, total	(1,265)		(1,265)		(1,265)
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0
Derivative liabilities, Counterparty netting	(1,265)		(1,265)		(1,265)
Long-term debt, portion measured at fair value	0		0
Other liabilities	0		0
Fair value liabilities measured on recurring basis, total	(1,265)		(1,265)		(1,265)
Recurring Basis | Counterparty Netting | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Counterparty netting	(1,265)		(1,265)		(1,265)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Counterparty netting	(1,265)		(1,265)		(1,265)
Recurring Basis | Cash Collateral
Fair Value, Assets Measured on Recurring Basis
Other bond securities	0		0
Equity securities available for sale	0		0
Other equity securities	0		0
Other invested assets	0		0
Derivative assets, Cash collateral	(1,625)		(1,625)		(903)
Separate account assets, at fair value	0		0
Other assets	0		0
Fair value assets measured on recurring basis, total	(1,625)		(1,625)		(903)
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0
Derivative liabilities, Cash collateral	(1,074)		(1,074)		(1,521)
Long-term debt, portion measured at fair value	0		0
Other liabilities	0		0
Fair value liabilities measured on recurring basis, total	(1,074)		(1,074)		(1,521)
Recurring Basis | Cash Collateral | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Cash collateral	(1,625)		(1,625)		(903)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Cash collateral	(1,074)		(1,074)		(1,521)
Recurring Basis | Total Fair Value
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	235,289		235,289		241,537
Other bond securities	13,478		13,478		13,998
Equity securities available for sale	1,605		1,605		2,078
Other equity securities	506		506		482
Mortgage and other loans receivable	5		5		11
Other invested assets	227		227		205
Derivative Assets, Fair Value	996		996		1,809
Short-term investments, portion measured at fair value	3,405		3,405		3,341
Separate account assets, at fair value	87,090		87,090		82,972
Other assets					0
Fair value assets measured on recurring basis, total	342,601		342,601		346,433
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	3,531		3,531		3,058
Other policyholder funds	0		0		5
Derivative Liabilities, Fair Value	1,114		1,114		2,016
Long-term debt, portion measured at fair value	3,085		3,085		3,428
Other liabilities	740		740		0
Fair value liabilities measured on recurring basis, total	8,470		8,470		8,507
Recurring Basis | Total Fair Value | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	2,359		2,359		2,328
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,901		1,901		3,077
Recurring Basis | Total Fair Value | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	974		974		1,320
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,208		1,208		1,369
Recurring Basis | Total Fair Value | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	529		529		305
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	43		43		19
Recurring Basis | Total Fair Value | Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Total Fair Value | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	2		2		2
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	295		295		331
Recurring Basis | Total Fair Value | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	22		22		22
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	6		6		6
Recurring Basis | Total Fair Value | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	(2,890)		(2,890)		(2,168)
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	(2,339)		(2,339)		(2,786)
Recurring Basis | Total Fair Value | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,356		2,356		1,992
Other bond securities	3,180		3,180		2,939
Recurring Basis | Total Fair Value | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	19,722		19,722		24,772
Other bond securities	0		0		0
Recurring Basis | Total Fair Value | Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,139		15,139		14,535
Other bond securities	54		54		51
Recurring Basis | Total Fair Value | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	132,050		132,050		132,180
Other bond securities	1,848		1,848		1,772
Recurring Basis | Total Fair Value | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	36,066		36,066		37,374
Other bond securities	1,967		1,967		2,025
Recurring Basis | Total Fair Value | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	13,163		13,163		14,271
Other bond securities	476		476		603
Recurring Basis | Total Fair Value | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	16,793		16,793		16,413
Other bond securities	5,953		5,953		6,608
Recurring Basis | Total Fair Value | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	984		984		1,065
Recurring Basis | Total Fair Value | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	548		548		752
Recurring Basis | Total Fair Value | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	$ 73		$ 73		$ 261

FAIR VALUE MEASUREMENTS (Deta46

FAIR VALUE MEASUREMENTS (Details - Changes in Level 3 Recurring Fair Value Measurements) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	$ 35,673	$ 36,938	$ 37,666	$ 38,020
Net Realized and Unrealized Gains (Losses) Included in Income	505	373	1,031	514
Other Comprehensive Income (Loss)	575	313	767	(218)
Purchases, Sales, Issues and Settlements, Net	(684)	(96)	(2,504)	(395)
Gross Transfers in, assets	78	454	222	696
Gross Transfers out, assets	(110)	(406)	(1,145)	(1,041)
Reclassified to Assets Held for Sale	0		0
Balance End of Period	36,037	37,576	36,037	37,576
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	104	(69)	200	(414)
Liabilities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	3,410	4,052	3,413	3,028
Net realized and unrealized gains and losses related to Level 3 items, liabilities	300	544	219	1,448
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	123	52	201	172
Gross Transfers in, liabilities	(3)	0	(3)	0
Gross Transfers out, liabilities	0	(113)	0	(113)
Balance at the End of the Period	3,830	4,535	3,830	4,535
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	81	59	92	31
Policyholder contract deposits
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	3,072	3,251	3,033	2,289
Net realized and unrealized gains and losses related to Level 3 items, liabilities	340	598	295	1,443
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	106	141	190	258
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	3,518	3,990	3,518	3,990
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	7	16	2	37
Derivative liabilities, net
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	280	617	309	556
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(42)	(52)	(90)	5
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	16	(87)	35	(83)
Gross Transfers in, liabilities	(3)	0	(3)	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	251	478	251	478
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	76	43	94	(9)
Interest rate contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	32	48	38	50
Net realized and unrealized gains and losses related to Level 3 items, liabilities	2	3	(1)	7
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	(4)	(5)	(7)	(11)
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	30	46	30	46
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	(1)	0	2	(5)
Foreign exchange contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	6	9	11	7
Net realized and unrealized gains and losses related to Level 3 items, liabilities	1	1	1	2
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	0	(1)	(5)	0
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	7	9	7	9
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	(1)	(1)	(1)	(1)
Equity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(62)	(51)	(58)	(54)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(4)	(4)	(15)	0
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	3	3	10	2
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	(63)	(52)	(63)	(52)
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	9	3	14	0
Commodity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	0	0	0	0
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0	0	0
Accumulated 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	0
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	315	490	329	505
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(21)	(28)	(36)	(34)
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	(1)	(89)	0	(98)
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	293	373	293	373
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	18	34	28
Other contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(11)	121	(11)	48
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(20)	(24)	(39)	30
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	18	5	37	24
Gross Transfers in, liabilities	(3)	0	(3)	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	(16)	102	(16)	102
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	46	23	45	(31)
Long-term debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	58	184	71	183
Net realized and unrealized gains and losses related to Level 3 items, liabilities	2	(2)	14	0
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	1	(2)	(24)	(3)
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	(113)	0	(113)
Balance at the End of the Period	61	67	61	67
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	(2)	0	(4)	3
Bonds available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	28,381	28,372	29,971	28,817
Net Realized and Unrealized Gains (Losses) Included in Income	258	262	556	562
Other Comprehensive Income (Loss)	573	307	770	(219)
Purchases, Sales, Issues and Settlements, Net	(219)	272	(1,520)	439
Gross Transfers in, assets	78	454	222	631
Gross Transfers out, assets	(109)	(341)	(1,037)	(904)
Reclassified to Assets Held for Sale	0		0
Balance End of Period	28,962	29,326	28,962	29,326
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	2,041	2,196	2,040	2,124
Net Realized and Unrealized Gains (Losses) Included in Income	(1)	2	1	2
Other Comprehensive Income (Loss)	89	136	85	194
Purchases, Sales, Issues and Settlements, Net	148	(21)	169	(7)
Gross Transfers in, assets	8	0	8	0
Gross Transfers out, assets	0	0	(18)	0
Balance End of Period	2,285	2,313	2,285	2,313
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	16	30	17	32
Net Realized and Unrealized Gains (Losses) Included in Income	0	0	0	0
Other Comprehensive Income (Loss)	1	0	1	(2)
Purchases, Sales, Issues and Settlements, Net	(5)	2	(6)	2
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	0	(4)	0	(4)
Balance End of Period	12	28	12	28
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	1,079	1,024	1,133	1,370
Net Realized and Unrealized Gains (Losses) Included in Income	5	2	1	3
Other Comprehensive Income (Loss)	3	7	0	(17)
Purchases, Sales, Issues and Settlements, Net	(153)	(65)	(166)	(36)
Gross Transfers in, assets	70	193	206	314
Gross Transfers out, assets	(72)	(325)	(242)	(798)
Reclassified to Assets Held for Sale	0		0
Balance End of Period	932	836	932	836
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	16,487	16,162	16,906	16,537
Net Realized and Unrealized Gains (Losses) Included in Income	264	234	553	479
Other Comprehensive Income (Loss)	346	61	497	(359)
Purchases, Sales, Issues and Settlements, Net	(681)	61	(1,539)	(172)
Gross Transfers in, assets	0	261	8	294
Gross Transfers out, assets	(23)	0	(32)	0
Balance End of Period	16,393	16,779	16,393	16,779
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	1,003	2,368	2,040	2,585
Net Realized and Unrealized Gains (Losses) Included in Income	18	16	23	58
Other Comprehensive Income (Loss)	2	10	7	(78)
Purchases, Sales, Issues and Settlements, Net	(274)	(87)	(622)	(168)
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	(14)	(12)	(713)	(102)
Reclassified to Assets Held for Sale	0		0
Balance End of Period	735	2,295	735	2,295
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	7,755	6,592	7,835	6,169
Net Realized and Unrealized Gains (Losses) Included in Income	(28)	8	(22)	20
Other Comprehensive Income (Loss)	132	93	180	43
Purchases, Sales, Issues and Settlements, Net	746	382	644	820
Gross Transfers in, assets	0	0	0	23
Gross Transfers out, assets	0	0	(32)	0
Reclassified to Assets Held for Sale	0		0
Balance End of Period	8,605	7,075	8,605	7,075
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	7,093	8,277	7,480	8,846
Net Realized and Unrealized Gains (Losses) Included in Income	243	124	472	(47)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(498)	(352)	(1,008)	(797)
Gross Transfers in, assets	0	0	0	65
Gross Transfers out, assets	0	(65)	(106)	(83)
Balance End of Period	6,838	7,984	6,838	7,984
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	100	(69)	196	(415)
Other bond securities | Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	18	18	17	17
Net Realized and Unrealized Gains (Losses) Included in Income	0	1	1	2
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	10	(1)	10	(1)
Gross Transfers in, assets	0	0	0	0
Balance End of Period	28	18	28	18
Other bond securities | 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	1	1	3
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	1,502	1,513	1,605	1,581
Net Realized and Unrealized Gains (Losses) Included in Income	66	14	121	(23)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(58)	(41)	(183)	(54)
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	0	0	(33)	(18)
Balance End of Period	1,510	1,486	1,510	1,486
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	43	(19)	67	(61)
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	65	170	155	193
Net Realized and Unrealized Gains (Losses) Included in Income	2	0	2	(2)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(1)	(2)	(18)	(23)
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	0	0	(73)	0
Balance End of Period	66	168	66	168
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	2	9	3	7
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	5,508	6,576	5,703	7,055
Net Realized and Unrealized Gains (Losses) Included in Income	175	109	348	(24)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(449)	(308)	(817)	(719)
Gross Transfers in, assets	0	0	0	65
Gross Transfers out, assets	0	(65)	0	(65)
Balance End of Period	5,234	6,312	5,234	6,312
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	55	(60)	125	(364)
Equity securities available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	8	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	8	0
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	(1)	0	(1)	0
Balance End of Period	7	0	7	0
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	8	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	8	0
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	(1)	0	(1)	0
Balance End of Period	7	0	7	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
Mortgage and other loans receivable
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	11	11	11	11
Purchases, Sales, Issues and Settlements, Net	(6)	0	(6)	0
Gross Transfers out, assets	0		0
Balance End of Period	5	11	5	11
Other invested assets
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	180	263	204	332
Net Realized and Unrealized Gains (Losses) Included in Income	4	(12)	3	(1)
Other Comprehensive Income (Loss)	2	6	(3)	1
Purchases, Sales, Issues and Settlements, Net	39	(16)	22	(37)
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	0	0	(1)	(54)
Balance End of Period	225	241	225	241
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	4		4
Other equity securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	15	0	14
Net Realized and Unrealized Gains (Losses) Included in Income	0	(1)		0
Purchases, Sales, Issues and Settlements, Net	0		0
Gross Transfers in, assets			0	0
Balance End of Period	$ 0	$ 14	0	14
Other equity 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			$ 0	$ 1

FAIR VALUE MEASUREMENTS (Deta47

FAIR VALUE MEASUREMENTS (Details - Net realized and unrealized gains and losses included in income related to Level 3 assets and liabilities) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
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	$ 505	$ 373	$ 1,031	$ 514
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	340	598	295	1,443
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	340	598	295	1,443
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	(42)	(52)	(90)	5
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	0	0	0
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	(1)	0	(8)	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	(41)	(52)	(82)	1
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	2	(2)	14	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	2	(2)	14	0
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	258	262	556	562
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	294	291	592	589
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	(36)	(30)	(36)	(29)
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	0	1	0	2
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	243	124	472	(47)
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	97	26	172	(8)
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	(4)	32	2	32
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	150	66	298	(71)
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
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
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
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
Other 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	(1)		0
Other 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		(1)
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	4	(12)	3	(1)
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	3	(1)	3	(3)
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	1	(19)	(2)	32
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	$ 0	$ 8	$ 2	$ (30)

FAIR VALUE MEASUREMENTS (Deta48

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issues and settlements) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, Sales, Issues and Settlements, Net, assets	$ (684)	$ (96)	$ (2,504)	$ (395)
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	1	3	(8)	(10)
Transfers out Level 3 at end of reporting period, net gains (losses) included in realized and unrealized gains and losses related to Level 3 for the period.	(7)	(8)	(7)	(53)
Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	0	(1)	0	(3)
Sales, liabilities	82	140	152	270
Settlements, liabilities	41	(87)	49	(95)
Purchases, Sales, Issues and Settlements, Net, liabilities	123	52	201	172
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	82	140	152	270
Settlements, liabilities	24	1	38	(12)
Purchases, Sales, Issues and Settlements, Net, liabilities	106	141	190	258
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	0	(1)	0	(3)
Sales, liabilities	0	0	0	0
Settlements, liabilities	16	(86)	35	(80)
Purchases, Sales, Issues and Settlements, Net, liabilities	16	(87)	35	(83)
Long-term debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Settlements, liabilities	1	(2)	(24)	(3)
Purchases, Sales, Issues and Settlements, Net, liabilities	1	(2)	(24)	(3)
Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	1,778	1,771	2,313	3,121
Sales, assets	(125)	(91)	(620)	(294)
Settlements, assets	(2,337)	(1,776)	(4,197)	(3,222)
Purchases, Sales, Issues and Settlements, Net, assets	(684)	(96)	(2,504)	(395)
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	1,711	1,675	2,139	2,878
Sales, assets	(109)	(70)	(426)	(159)
Settlements, assets	(1,821)	(1,333)	(3,233)	(2,280)
Purchases, Sales, Issues and Settlements, Net, assets	(219)	272	(1,520)	439
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	186	17	223	46
Sales, assets	(11)	(7)	(16)	(7)
Settlements, assets	(27)	(31)	(38)	(46)
Purchases, Sales, Issues and Settlements, Net, assets	148	(21)	169	(7)
Bonds available for sale | Non-U.S. government
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	2	0	3
Sales, assets	0	0	(1)	0
Settlements, assets	(5)	0	(5)	(1)
Purchases, Sales, Issues and Settlements, Net, assets	(5)	2	(6)	2
Bonds available for sale | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	30	0	30	29
Sales, assets	(54)	(25)	(54)	(25)
Settlements, assets	(129)	(40)	(142)	(40)
Purchases, Sales, Issues and Settlements, Net, assets	(153)	(65)	(166)	(36)
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	301	1,040	640	1,543
Sales, assets	0	0	(244)	(58)
Settlements, assets	(982)	(979)	(1,935)	(1,657)
Purchases, Sales, Issues and Settlements, Net, assets	(681)	61	(1,539)	(172)
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	0	4	39	106
Sales, assets	(44)	(27)	(111)	(58)
Settlements, assets	(230)	(64)	(550)	(216)
Purchases, Sales, Issues and Settlements, Net, assets	(274)	(87)	(622)	(168)
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	1,194	612	1,207	1,151
Sales, assets	0	(11)	0	(11)
Settlements, assets	(448)	(219)	(563)	(320)
Purchases, Sales, Issues and Settlements, Net, assets	746	382	644	820
Other bond securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	25	87	123	211
Sales, assets	(8)	(19)	(186)	(133)
Settlements, assets	(515)	(420)	(945)	(875)
Purchases, Sales, Issues and Settlements, Net, assets	(498)	(352)	(1,008)	(797)
Other bond securities | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	11		11	0
Sales, assets	0			0
Settlements, assets	(1)	(1)	(1)	(1)
Purchases, Sales, Issues and Settlements, Net, assets	10	(1)	10	(1)
Other bond securities | Residential mortgage-backed securities (RMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	14	26	112	89
Sales, assets	0	0	(167)	(26)
Settlements, assets	(72)	(67)	(128)	(117)
Purchases, Sales, Issues and Settlements, Net, assets	(58)	(41)	(183)	(54)
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	53
Sales, assets	0	0	(11)	(71)
Settlements, assets	(1)	(2)	(7)	(5)
Purchases, Sales, Issues and Settlements, Net, assets	(1)	(2)	(18)	(23)
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	0	61	0	69
Sales, assets	(8)	(19)	(8)	(36)
Settlements, assets	(441)	(350)	(809)	(752)
Purchases, Sales, Issues and Settlements, Net, assets	(449)	(308)	(817)	(719)
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0	8	0
Sales, assets	0	0	0	0
Settlements, assets	0	0	0	0
Purchases, Sales, Issues and Settlements, Net, assets	0	0	8	0
Other equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets			0	14
Settlements, assets	0		0	(14)
Purchases, Sales, Issues and Settlements, Net, assets	0		0
Mortgage and other loans receivable, net of allowance
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets	(6)	0	(6)	0
Settlements, assets	0	0	0	0
Purchases, Sales, Issues and Settlements, Net, assets	(6)	0	(6)	0
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	42	9	43	18
Sales, assets	(2)	(2)	(2)	(2)
Settlements, assets	(1)	(23)	(19)	(53)
Purchases, Sales, Issues and Settlements, Net, assets	$ 39	$ (16)	$ 22	$ (37)

FAIR VALUE MEASUREMENTS (Deta49

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Assets)) - Discounted cash flow - Level 3 - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Corporate debt
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 454	$ 498
Corporate debt | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.90%	3.41%
Corporate debt | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.58%	6.38%
Corporate debt | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.24%	4.90%
Residential mortgage-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 16,471	$ 17,412
Residential mortgage-backed securities | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.96%	3.28%
Constant prepayment rate	2.26%	3.95%
Loss severity	47.43%	47.51%
Constant default rate	3.23%	3.28%
Residential mortgage-backed securities | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.32%	5.87%
Constant prepayment rate	10.48%	6.54%
Loss severity	79.54%	80.98%
Constant default rate	7.98%	8.64%
Residential mortgage-backed securities | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.14%	4.57%
Constant prepayment rate	6.37%	5.25%
Loss severity	63.49%	64.24%
Constant default rate	5.61%	5.96%
Certain CDO/ABS
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 5,030	$ 4,368
Certain CDO/ABS | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.27%	3.67%
Certain CDO/ABS | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.33%	5.85%
Certain CDO/ABS | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.30%	4.76%
Commercial mortgage backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 542	$ 1,511
Commercial mortgage backed securities | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.39%	0.48%
Commercial mortgage backed securities | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	8.01%	10.21%
Commercial mortgage backed securities | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.20%	5.34%
Obligations of states, municipalities and political subdivisions
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,494	$ 1,248
Obligations of states, municipalities and political subdivisions | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.75%	4.12%
Obligations of states, municipalities and political subdivisions | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.68%	4.91%
Obligations of states, municipalities and political subdivisions | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.21%	4.52%

FAIR VALUE MEASUREMENTS (Deta50

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Liabilities) - Discounted cash flow - Level 3 - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Index Annuities
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 1,140	$ 859
Index Annuities | Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Mortality multiplier	101.00%	101.00%
Lapse rates	1.00%	1.00%
Index Annuities | Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Mortality multiplier	103.00%	103.00%
Lapse rates	66.00%	66.00%
Index Life
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 443	$ 381
Index Life | Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Base lapse rates	2.00%	2.00%
Mortality rates	0.00%	0.00%
Index Life | Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Base lapse rates	19.00%	19.00%
Mortality rates	40.00%	40.00%
GMWB and GMAB
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 1,917	$ 1,777
Utilization rates	100.00%
GMWB and GMAB | Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	8.00%	13.00%
Base lapse rates	0.50%	0.50%
Dynamic lapse rates	30.00%	30.00%
Mortality multiplier	42.00%	42.00%
Utilization rates		100.00%
Equity/Interest-rate Correlation	20.00%	20.00%
GMWB and GMAB | Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	50.00%	50.00%
Base lapse rates	20.00%	20.00%
Dynamic lapse rates	170.00%	170.00%
Mortality multiplier	161.00%	161.00%
Utilization rates		100.00%
Equity/Interest-rate Correlation	40.00%	40.00%

FAIR VALUE MEASUREMENTS (Deta51

FAIR VALUE MEASUREMENTS (Details - Investments in certain other invested assets, including private equity funds, hedge funds and other alternative investments) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 6,373	$ 6,741
Unfunded Commitments	1,336	1,279
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	2,121	2,254
Unfunded Commitments	$ 1,322	1,248
Average original expected lives	10 years
Second investment redemption notice period	2 years
Private equity funds | Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives	2 years
Private equity funds | Minimum [Member]
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 less than 3 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	66.00%
Private equity funds | Expected remaining lives of less than 3 years | Maximum [Member]
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 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	18.00%
Private equity funds | Expected remaining lives of 4 to 6 years | Maximum [Member]
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 4 to 6 years | Minimum [Member]
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 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	16.00%
Private equity funds | Expected remaining lives of 7 to 10 years | Maximum [Member]
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 7 to 10 years | Minimum [Member]
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	$ 1,298	1,424
Unfunded Commitments	799	750
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	230	258
Unfunded Commitments	182	208
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	123	137
Unfunded Commitments	34	31
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	103	123
Unfunded Commitments	43	44
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	367	312
Unfunded Commitments	264	215
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	4,252	4,487
Unfunded Commitments	$ 14	31
Hedge fund investments redeemable monthly (as a percent)	20.00%
Hedge fund investments redeemable quarterly (as a percent)	46.00%
Hedge fund investments redeemable semi-annually (as a percent)	11.00%
Hedge fund investments redeemable annually (as a percent)	23.00%
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	47.00%
Hedge funds: | Maximum [Member]
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 [Member]
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	$ 1,315	1,453
Unfunded Commitments	0	9
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	1,370	1,429
Unfunded Commitments	0	0
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	1,036	992
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	308	416
Unfunded Commitments	7	8
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	0	0
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	223	197
Unfunded Commitments	$ 7	$ 14

FAIR VALUE MEASUREMENTS (Deta52

FAIR VALUE MEASUREMENTS (Details - Gains or losses recorded related to the eligible instruments for which we elected the fair value option) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	$ 512	$ 210	$ 1,027	$ (163)
Fair value option credit risk gains (losses) on liabilities	(3)	3		8
Fair Value Option | Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	(33)	(71)	(48)	(247)
Fair Value Option | Other liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	(1)	0	(1)	0
Fair Value Option | Bond and equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	450	248	799	298
Fair Value Option | Alternative investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	$ 96	$ 33	277	(214)
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	$ 0

FAIR VALUE MEASUREMENTS (Deta53

FAIR VALUE MEASUREMENTS (Details - Difference between fair values and the aggregate contractual principal amounts of mortgage and other loans receivable and long-term borrowings for which the fair value option was elected) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	$ 5	$ 11
Mortgage and other loans receivable, Outstanding Principal Amount	34,949	33,537
Mortgage and other loans receivable, Difference	34,949	33,537
Long-term debt, Fair Value	3,085	3,428
Long-term debt, Outstanding Principal Amount	31,812	30,912
Fair Value Option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	5	11
Mortgage and other loans receivable, Outstanding Principal Amount	5	8
Mortgage and other loans receivable, Difference	0	3
Long-term debt, Fair Value	3,085	3,428
Long-term debt, Outstanding Principal Amount	2,351	2,628
Long-term debt, Difference	$ 734	$ 800

FAIR VALUE MEASUREMENTS (Deta54

FAIR VALUE MEASUREMENTS (Details - Assets measured at fair value on a non-recurring basis at the time of impairment and the related impairment charges recorded during the periods presented) - Fair value on a non-recurring basis - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	$ 79	$ 130	$ 172	$ 289
Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	33	29	50	31
Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	46	92	87	249
Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	0	$ 9	35	$ 9
Other assets | Held for sale [Member]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	0		35
Level 3 | Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	270		270		$ 1,102
Level 3 | Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	17		17		364
Level 3 | Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	253		253		736
Level 3 | Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	0		0		2
Total Fair Value | Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	270		270		1,102
Total Fair Value | Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	17		17		364
Total Fair Value | Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	253		253		736
Total Fair Value | Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	0		0		$ 2
Total Fair Value | Other assets | Held for sale [Member]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	$ 0		$ 0

FAIR VALUE MEASUREMENTS (Deta55

FAIR VALUE MEASUREMENTS (Details - Carrying values and estimated fair values of our financial instruments not measured at fair value) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Assets:
Mortgage and other loans receivable	$ 34,642	$ 33,240
Short-term investments	12,094	12,302
Cash	2,517	1,868	$ 1,784	$ 1,629
Liabilities:
Other liabilities	28,135	26,296
Long-term Debt	31,812	30,912
Total Fair Value
Assets:
Mortgage and other loans receivable	35,749	33,736
Other invested assets	2,366	3,008
Short-term investments	8,689	8,961
Cash	2,517	1,868
Liabilities:
Policyholder contract deposits associated with investment-type contracts	124,299	122,124
Other liabilities	4,395	4,196
Long-term Debt	27,765	26,450
Level 1
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	2,517	1,868
Liabilities:
Policyholder contract deposits associated with investment-type contracts	0	0
Other liabilities	0	0
Long-term Debt	0	0
Level 2
Assets:
Mortgage and other loans receivable	156	161
Other invested assets	630	955
Short-term investments	8,689	8,961
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	354	382
Other liabilities	4,395	4,196
Long-term Debt	24,120	23,117
Level 3
Assets:
Mortgage and other loans receivable	35,593	33,575
Other invested assets	1,736	2,053
Short-term investments	0	0
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	123,945	121,742
Other liabilities	0	0
Long-term Debt	3,645	3,333
Carrying Value
Assets:
Mortgage and other loans receivable	34,637	33,229
Other invested assets	2,748	3,474
Short-term investments	8,689	8,961
Cash	2,517	1,868
Liabilities:
Policyholder contract deposits associated with investment-type contracts	113,474	112,705
Other liabilities	4,395	4,196
Long-term Debt	$ 28,727	$ 27,484

INVESTMENTS (Details - Amortize

INVESTMENTS (Details - Amortized cost or cost and fair value of Available for sale securities) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 223,901	$ 233,938
Available for sale securities, Gross Unrealized Gains	14,629	12,817
Available for sale securities, Gross Unrealized Losses	(1,636)	(3,140)
Available-for-sale Securities	236,894	243,615
AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,604	1,265
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	222,720	232,241
Available for sale securities, Gross Unrealized Gains	14,201	12,421
Available for sale securities, Gross Unrealized Losses	(1,632)	(3,125)
Available-for-sale Securities	235,289	241,537
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	31,600	33,600
Bonds available for sale | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,604	1,265
Bonds available for sale | U.S. government and government sponsored entities
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	2,225	1,870
Available for sale securities, Gross Unrealized Gains	153	148
Available for sale securities, Gross Unrealized Losses	(22)	(26)
Available-for-sale Securities	2,356	1,992
Bonds available for sale | U.S. government and government sponsored entities | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	18,625	24,025
Available for sale securities, Gross Unrealized Gains	1,167	1,001
Available for sale securities, Gross Unrealized Losses	(70)	(254)
Available-for-sale Securities	19,722	24,772
Bonds available for sale | Obligations of states, municipalities and political subdivisions | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale | Non-U.S. government
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	14,499	14,018
Available for sale securities, Gross Unrealized Gains	757	773
Available for sale securities, Gross Unrealized Losses	(117)	(256)
Available-for-sale Securities	15,139	14,535
Bonds available for sale | Non-U.S. government | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale | Corporate debt
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	124,719	126,648
Available for sale securities, Gross Unrealized Gains	8,319	7,271
Available for sale securities, Gross Unrealized Losses	(988)	(1,739)
Available-for-sale Securities	132,050	132,180
Bonds available for sale | Corporate debt | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	(5)	(31)
Bonds available for sale | Mortgage-backed, asset-backed and collateralized
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	62,652	65,680
Available for sale securities, Gross Unrealized Gains	3,805	3,228
Available for sale securities, Gross Unrealized Losses	(435)	(850)
Available-for-sale Securities	66,022	68,058
Bonds available for sale | Mortgage-backed, asset-backed and collateralized | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,609	1,296
Bonds available for sale | Residential mortgage-backed securities (RMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	33,336	35,311
Available for sale securities, Gross Unrealized Gains	2,992	2,541
Available for sale securities, Gross Unrealized Losses	(262)	(478)
Available-for-sale Securities	36,066	37,374
Bonds available for sale | Residential mortgage-backed securities (RMBS) | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,504	1,212
Bonds available for sale | Commercial mortgage-backed securities (CMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	12,830	14,054
Available for sale securities, Gross Unrealized Gains	435	409
Available for sale securities, Gross Unrealized Losses	(102)	(192)
Available-for-sale Securities	13,163	14,271
Bonds available for sale | Commercial mortgage-backed securities (CMBS) | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	46	45
Bonds available for sale | Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	16,486	16,315
Available for sale securities, Gross Unrealized Gains	378	278
Available for sale securities, Gross Unrealized Losses	(71)	(180)
Available-for-sale Securities	16,793	16,413
Bonds available for sale | Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS) | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	59	39
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	1,181	1,697
Available for sale securities, Gross Unrealized Gains	428	396
Available for sale securities, Gross Unrealized Losses	(4)	(15)
Available-for-sale Securities	1,605	2,078
Equity securities available for sale | Common Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	616	708
Available for sale securities, Gross Unrealized Gains	372	369
Available for sale securities, Gross Unrealized Losses	(4)	(12)
Available-for-sale Securities	984	1,065
Equity securities available for sale | Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	504	748
Available for sale securities, Gross Unrealized Gains	44	4
Available for sale securities, Gross Unrealized Losses	0	0
Available-for-sale Securities	548	752
Equity securities available for sale | Mutual Funds
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	61	241
Available for sale securities, Gross Unrealized Gains	12	23
Available for sale securities, Gross Unrealized Losses	0	(3)
Available-for-sale Securities	$ 73	$ 261

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	Jun. 30, 2017USD ($)item	Dec. 31, 2016USD ($)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 36,488	$ 57,397
Gross Unrealized Losses, Less than 12 Months	907	1,943
Fair Value, 12 Months or More	9,311	13,285
Gross Unrealized Losses, 12 Months or More	729	1,197
Fair Value, Total	45,799	70,682
Gross Unrealized Losses, Total	1,636	3,140
Bonds available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	36,438	57,208
Gross Unrealized Losses, Less than 12 Months	904	1,928
Fair Value, 12 Months or More	9,305	13,285
Gross Unrealized Losses, 12 Months or More	728	1,197
Fair Value, Total	45,743	70,493
Gross Unrealized Losses, Total	$ 1,632	3,125
Number of securities in an unrealized loss position | item	6,946
Number of individual securities in continuous unrealized loss position for longer than twelve months | item	1,222
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	$ 949	720
Gross Unrealized Losses, Less than 12 Months	21	26
Fair Value, 12 Months or More	1	0
Gross Unrealized Losses, 12 Months or More	1	0
Fair Value, Total	950	720
Gross Unrealized Losses, Total	22	26
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	1,867	5,814
Gross Unrealized Losses, Less than 12 Months	48	221
Fair Value, 12 Months or More	257	231
Gross Unrealized Losses, 12 Months or More	22	33
Fair Value, Total	2,124	6,045
Gross Unrealized Losses, Total	70	254
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	3,132	3,865
Gross Unrealized Losses, Less than 12 Months	52	162
Fair Value, 12 Months or More	475	489
Gross Unrealized Losses, 12 Months or More	65	94
Fair Value, Total	3,607	4,354
Gross Unrealized Losses, Total	117	256
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	18,644	28,184
Gross Unrealized Losses, Less than 12 Months	504	1,013
Fair Value, 12 Months or More	4,412	6,080
Gross Unrealized Losses, 12 Months or More	484	726
Fair Value, Total	23,056	34,264
Gross Unrealized Losses, Total	988	1,739
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	6,364	8,794
Gross Unrealized Losses, Less than 12 Months	156	252
Fair Value, 12 Months or More	2,716	4,045
Gross Unrealized Losses, 12 Months or More	106	226
Fair Value, Total	9,080	12,839
Gross Unrealized Losses, Total	262	478
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	2,838	4,469
Gross Unrealized Losses, Less than 12 Months	92	152
Fair Value, 12 Months or More	226	479
Gross Unrealized Losses, 12 Months or More	10	40
Fair Value, Total	3,064	4,948
Gross Unrealized Losses, Total	102	192
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	2,644	5,362
Gross Unrealized Losses, Less than 12 Months	31	102
Fair Value, 12 Months or More	1,218	1,961
Gross Unrealized Losses, 12 Months or More	40	78
Fair Value, Total	3,862	7,323
Gross Unrealized Losses, Total	71	180
Equity securities available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	50	189
Gross Unrealized Losses, Less than 12 Months	3	15
Fair Value, 12 Months or More	6	0
Gross Unrealized Losses, 12 Months or More	1	0
Fair Value, Total	56	189
Gross Unrealized Losses, Total	$ 4	15
Number of securities in an unrealized loss position | item	59
Number of individual securities in continuous unrealized loss position for longer than twelve months | item	8
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	$ 42	125
Gross Unrealized Losses, Less than 12 Months	3	12
Fair Value, 12 Months or More	6	0
Gross Unrealized Losses, 12 Months or More	1	0
Fair Value, Total	48	125
Gross Unrealized Losses, Total	4	12
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	8	64
Gross Unrealized Losses, Less than 12 Months	0	3
Fair Value, 12 Months or More	0	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	8	64
Gross Unrealized Losses, Total	$ 0	$ 3

INVESTMENTS (Details - Amorti58

INVESTMENTS (Details - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 223,901	$ 233,938
Fixed Maturity Securities Available for Sale, Fair Value, Total	235,289	241,537
Fixed Maturity Securities Available for Sale in a Loss Position
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	1,236	604
Due after one year through five years, Amortized Cost	5,541	6,002
Due after five years through ten years, Amortized Cost	9,898	16,045
Due after ten years, Amortized Cost	14,259	25,007
Mortgage-backed, asset-backed and collateralized, Amortized Cost	16,441	25,960
Available for sale securities, Amortized Cost, Total	47,375	73,618
Due in one year or less, Fair Value	1,230	581
Due after one year through five years, Fair Value	5,412	5,841
Due after five years through ten years, Fair Value	9,471	15,332
Due after ten years, Fair Value	13,624	23,629
Mortgage-backed, asset-backed and collateralized, Fair Value	16,006	25,110
Fixed Maturity Securities Available for Sale, Fair Value, Total	45,743	70,493
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	8,730	7,796
Due after one year through five years, Amortized Cost	47,266	49,200
Due after five years through ten years, Amortized Cost	41,089	43,308
Due after ten years, Amortized Cost	62,983	66,257
Mortgage-backed, asset-backed and collateralized, Amortized Cost	62,652	65,680
Available for sale securities, Amortized Cost, Total	222,720	232,241
Due in one year or less, Fair Value	8,960	7,994
Due after one year through five years, Fair Value	49,765	51,958
Due after five years through ten years, Fair Value	42,441	44,226
Due after ten years, Fair Value	68,101	69,301
Mortgage-backed, asset-backed and collateralized, Fair Value	66,022	68,058
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 235,289	$ 241,537

INVESTMENTS (Details - Realized

INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	$ 294	$ 1,197	$ 644	$ 1,416
Gross Realized Losses	48	99	242	656
Aggregate fair value of available for sale securities sold	7,600	8,300	23,400	14,400
Net realized capital gains (losses)	246	1,100	402	760
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	211	217	544	404
Gross Realized Losses	46	93	224	642
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	83	980	100	1,012
Gross Realized Losses	$ 2	$ 6	$ 18	$ 14

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	Jun. 30, 2017	Dec. 31, 2016
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 13,984	$ 14,480
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	$ 298	$ 421
Fixed maturity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 13,478	$ 13,998
Other Securities, Percent of Total	96.00%	97.00%
Fixed maturity securities | U.S. government and government sponsored entities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 3,180	$ 2,939
Other Securities, Percent of Total	23.00%	20.00%
Fixed maturity securities | Obligations of states, municipalities and political subdivisions
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 0	$ 0
Other Securities, Percent of Total	0.00%	0.00%
Fixed maturity securities | Non-U.S. government
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 54	$ 51
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	$ 1,848	$ 1,772
Other Securities, Percent of Total	13.00%	12.00%
Fixed maturity securities | Mortgage-backed, asset-backed and collateralized
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 8,396	$ 9,236
Other Securities, Percent of Total	60.00%	65.00%
Fixed maturity securities | Residential mortgage-backed securities (RMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,967	$ 2,025
Other Securities, Percent of Total	14.00%	14.00%
Fixed maturity securities | Commercial mortgage-backed securities (CMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 476	$ 603
Other Securities, Percent of Total	3.00%	4.00%
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	$ 5,953	$ 6,608
Other Securities, Percent of Total	43.00%	47.00%
Equity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 506	$ 482
Other Securities, Percent of Total	4.00%	3.00%

INVESTMENTS (Details - Carrying

INVESTMENTS (Details - Carrying values of other invested assets) - USD ($) $ in Millions	72 Months Ended
	Dec. 31, 2024	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Investment [Line Items]
Other invested assets				$ 23,132	$ 24,538
Hedge Funds
Investment [Line Items]
Hedge Fund Fair Value Redemption, Percentage		27.00%	55.00%
Hedge Fund Fair Value Redemption, Additional Percentage	12.00%
Alternative investments
Investment [Line Items]
Other invested assets				12,496	13,379
Alternative investments | Hedge Funds
Investment [Line Items]
Other invested assets				6,800	7,200
Alternative investments | Private equity funds
Investment [Line Items]
Other invested assets				5,100	5,500
Alternative investments | Affordable Housing Partnerships
Investment [Line Items]
Other invested assets				567	625
Investment real estate
Investment [Line Items]
Other invested assets				7,188	6,900
Net of accumulated depreciation on investment in real estate				423	451
Aircraft asset investments
Investment [Line Items]
Other invested assets				243	321
Investments in life settlements
Investment [Line Items]
Other invested assets				2,105	2,516
All other investments
Investment [Line Items]
Other invested assets				$ 1,100	$ 1,422

INVESTMENTS (Details - Componen

INVESTMENTS (Details - Components of Net investment income) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Investment [Line Items]
Total investment income	$ 3,741	$ 3,792	$ 7,553	$ 6,919
Investment expenses	128	109	254	223
Net investment income	3,613	3,683	7,299	6,696
Fixed maturity securities, including short-term investments
Investment [Line Items]
Total investment income	2,828	2,992	5,629	5,928
Equity securities
Investment [Line Items]
Total investment income	12	(22)	17	(44)
Interest on mortgage and other loans
Investment [Line Items]
Total investment income	399	376	792	765
Alternative investments
Investment [Line Items]
Total investment income	371	310	819	(56)
Real estate
Investment [Line Items]
Total investment income	31	35	80	88
Other investments
Investment [Line Items]
Total investment income	$ 100	$ 101	$ 216	$ 238

INVESTMENTS (Details - Compon63

INVESTMENTS (Details - Components of Net realized capital gains (losses)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other-than-temporary impairments:
Severity	$ (2)	$ (3)	$ (2)	$ (5)
Change in intent	(7)	(4)	(8)	(33)
Foreign currency declines	0	(1)	(10)	(7)
Issuer-specific credit events	(55)	(95)	(112)	(226)
Adverse projected cash flows	(3)	(5)	(3)	(41)
Provision for loan losses	(24)	(30)	(18)	0
Foreign exchange transactions	74	(38)	233	(558)
Derivative and hedge accounting	(298)	170	(674)	97
Impairments on investments in life settlements	(46)	(92)	(87)	(249)
Other	46	42	95	198
Total net realized capital gains (losses)	(69)	1,042	(184)	(64)
Net realized capital gains (losses)	(69)	1,042	(184)	(64)
Prudential Financial
Other-than-temporary impairments:
Total net realized capital gains (losses)				107
Net realized capital gains (losses)				107
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	165	124	320	(238)
Equity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	$ 81	$ 974	$ 82	$ 998

INVESTMENTS (Details - Increase

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ 2,346	$ 4,473	$ 3,179	$ 9,008
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	2,500	5,584	3,273	10,362
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(71)	(1,045)	43	(1,140)
Other investments
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (83)	$ (66)	$ (137)	$ (214)

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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 946	$ 1,523	$ 1,098	$ 1,747
Increases due to:
Credit impairments on new securities subject to impairment losses	41	13	58	123
Additional credit impairments on previously impaired securities	7	74	37	129
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(44)	(93)	(55)	(243)
Credit impaired securities for which there is a current intent or anticipated requirement to sell	0	0	0	0
Accretion on securities previously impaired due to credit	(188)	(219)	(376)	(458)
Balance, end of year	$ 762	$ 1,298	$ 762	$ 1,298

INVESTMENTS (Details - Purchase

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 222,720		$ 222,720		$ 232,241
Fair value	236,894		236,894		243,615
Purchased Credit Impaired (PCI) Securities
Schedule of Available-for-sale Securities [Line Items]
Contractually required payments (principal and interest)	36,196		36,196
Cash flows expected to be collected	29,608		29,608
Recorded investment in acquired securities	19,907		19,907
Outstanding principal balance	15,568		15,568		16,728
Amortized cost	11,105		11,105		11,987
Fair value	12,488		12,488		$ 12,922
Available for sale securities | Purchased Credit Impaired (PCI) Securities
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of period	7,593	$ 6,622	7,498	$ 6,846
Newly purchased PCI securities	13	245	101	451
Disposals	0	0	(18)	0
Accretion	(206)	(209)	(416)	(423)
Effect of changes in interest rate indices	(135)	60	(114)	(239)
Net reclassification from non-accretable difference, including effects of prepayments	200	325	414	408
Balance, end of period	$ 7,465	$ 7,043	$ 7,465	$ 7,043

INVESTMENTS (Details - Pledged

INVESTMENTS (Details - Pledged Investments) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Investment [Line Items]
Fair value of securities collateral pledged	$ 3,463	$ 1,434
Fair value of amount sold or repledged	384	11
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	5,200	4,900
Short-term investments held in escrow	551	523
FHLBs
Investment [Line Items]
Fair value of fixed maturities securities available for sale	3,100	3,400
Amount owned by subsidiaries	119	114
Residential loans pledged as collateral	116	17
Secured financing
Investment [Line Items]
Fair value of fixed maturities securities available for sale	2,520	2,389
Fair value of other bond securities	2,188	1,799
Amounts Borrowed Under Repurchase and Securities Lending Agreements	4,800	4,200
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	2,289	1,799
Securities Lending Agreements, Fair Value of Collateral	2,419	2,389
Secured financing | Overnight and continuous
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	359	0
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Up to 30 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	586	163
Securities Lending Agreements, Fair Value of Collateral	593	812
Secured financing | 31 to 90 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	784	860
Securities Lending Agreements, Fair Value of Collateral	1,437	1,577
Secured financing | 91 to 364 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	560	776
Securities Lending Agreements, Fair Value of Collateral	389	0
Secured financing | 365 Days or Greater
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Bonds available for sale | Obligations of states, municipalities and political subdivisions
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral		21
Secured financing | Bonds available for sale | Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	45	0
Securities Lending Agreements, Fair Value of Collateral	20	50
Secured financing | Bonds available for sale | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	56
Securities Lending Agreements, Fair Value of Collateral	2,399	2,257
Secured financing | Bonds available for sale | Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | Commercial mortgage-backed securities (CMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	61
Secured financing | Bonds available for sale | Up to 30 Days | Obligations of states, municipalities and political subdivisions
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral		21
Secured financing | Bonds available for sale | Up to 30 Days | Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	14	0
Securities Lending Agreements, Fair Value of Collateral	4
Secured financing | Bonds available for sale | Up to 30 Days | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	17
Securities Lending Agreements, Fair Value of Collateral	589	791
Secured financing | Bonds available for sale | Up to 30 Days | Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Bonds available for sale | 31 to 90 Days | Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	18
Securities Lending Agreements, Fair Value of Collateral	16	50
Secured financing | Bonds available for sale | 31 to 90 Days | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	23
Securities Lending Agreements, Fair Value of Collateral	1,421	1,466
Secured financing | Bonds available for sale | 31 to 90 Days | Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Bonds available for sale | 31 to 90 Days | Commercial mortgage-backed securities (CMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral		61
Secured financing | Bonds available for sale | 91 to 364 Days | Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	13
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Bonds available for sale | 91 to 364 Days | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	16
Securities Lending Agreements, Fair Value of Collateral	389
Secured financing | Bonds available for sale | 91 to 364 Days | Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | 91 to 364 Days | Commercial mortgage-backed securities (CMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Bonds available for sale | 365 Days or Greater | Corporate debt
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Other bond securities | Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	51
Secured financing | Other bond securities | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	1,829	1,748
Secured financing | Other bond securities | U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	359
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Other bond securities | Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Other bond securities | Overnight and continuous | U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	359
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Other bond securities | Up to 30 Days | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	555	163
Secured financing | Other bond securities | Up to 30 Days | Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Other bond securities | 31 to 90 Days | Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0
Secured financing | Other bond securities | 31 to 90 Days | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	743	860
Secured financing | Other bond securities | 31 to 90 Days | Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Other bond securities | 91 to 364 Days | Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	51
Secured financing | Other bond securities | 91 to 364 Days | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	531	725
Secured financing | Other bond securities | 91 to 364 Days | Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing | Other bond securities | 365 Days or Greater | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0
GIAs
Investment [Line Items]
Fair value of other bond securities	$ 2,100	$ 2,200

LENDING ACTIVITIES (Details - C

LENDING ACTIVITIES (Details - Composition of Mortgages and other loans receivable) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 34,949	$ 33,537
Allowance for losses	(307)	(297)	$ (308)	$ (308)
Mortgage and other loans receivable, net	34,642	33,240
Commercial mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	26,749	25,042
Allowance for losses	$ (226)	$ (194)	$ (198)	$ (171)
Commercial mortgages | California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	12.00%	12.00%
Commercial mortgages | New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	23.00%	24.00%
Residential Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 4,691	$ 3,828
Life insurance policy loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	2,309	2,367
Commercial loans, other loans and notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 1,200	$ 2,300

LENDING ACTIVITIES (Details -69

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgage loans) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)loan	Dec. 31, 2016USD ($)loan	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Commercial Mortgage Recorded Investment [Line Items]
Mortgage and other loans receivable, net	$ 34,642	$ 33,240
Allowance for credit losses	307	297	$ 308	$ 308
Total mortgage and other loans receivable	$ 34,949	$ 33,537
Debt Coverage Ratio	2	1.9
Average Loan to Value Ratio	58.00%	58.00%
Apartments
Commercial Mortgage Recorded Investment [Line Items]
In good standing	$ 6,717	$ 6,005
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	49	35
Allowance for credit losses	49	35
Total mortgage and other loans receivable	6,717	6,005
Offices
Commercial Mortgage Recorded Investment [Line Items]
In good standing	8,272	7,830
Restructured	15	134
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	40	0
Allowance for credit losses, Specific	3	3
Allowance for credit losses, General	71	72
Allowance for credit losses	74	75
Total mortgage and other loans receivable	8,327	7,964
Retail
Commercial Mortgage Recorded Investment [Line Items]
In good standing	5,149	5,179
Restructured	18	18
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	31	1
Allowance for credit losses, General	35	41
Allowance for credit losses	66	42
Total mortgage and other loans receivable	5,167	5,197
Industrial
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,167	1,898
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	0	6
Allowance for credit losses, General	9	7
Allowance for credit losses	9	13
Total mortgage and other loans receivable	2,167	1,898
Hotel
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,378	2,373
Restructured	16	16
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	1	1
Allowance for credit losses, General	12	13
Allowance for credit losses	13	14
Total mortgage and other loans receivable	2,394	2,389
Others
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,977	1,589
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	15	15
Allowance for credit losses	15	15
Total mortgage and other loans receivable	$ 1,977	$ 1,589
Commercial mortgages
Commercial Mortgage Recorded Investment [Line Items]
Number of loans in good standing | loan	781	784
Number of loans restructured | loan	3	4
Number of loans 90 days or less delinquent | loan	0	0
Number of loans greater than 90 days delinquent or in process of foreclosure | loan	2	0
Number of Loans | loan	786	788
In good standing	$ 26,660	$ 24,874
Restructured	49	168
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	40	0
Allowance for credit losses, Specific	35	11
Allowance for credit losses, General	191	183
Allowance for credit losses	$ 226	$ 194
Percentage of loans that are current as to payments of principal and interest	100.00%	99.00%
Percentage restructured	0.00%	1.00%
Percentage 90 days or less delinquent	0.00%
Percentage greater than 90 days delinquent or in foreclosure	0.00%	0.00%
Percentage Total	100.00%	100.00%
Percentage of loans with valuation allowance, Genaral	1.00%	1.00%
Percentage of loans with allowance for losses	1.00%	1.00%
Percentage of current commercial mortgages held	99.70%
Total mortgage and other loans receivable	$ 26,749	$ 25,042
Commercial mortgages | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	23,873	21,661
Commercial mortgages | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	2,407	2,835
Commercial mortgages | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	469	546
Commercial mortgages | Less than 65%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	18,281	15,924
Commercial mortgages | Less than 65% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	16,662	13,998
Commercial mortgages | Less than 65% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,372	1,694
Commercial mortgages | Less than 65% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	247	232
Commercial mortgages | 65% to 75%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	6,429	6,583
Commercial mortgages | 65% to 75% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	5,813	5,946
Commercial mortgages | 65% to 75% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	554	575
Commercial mortgages | 65% to 75% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	62	62
Commercial mortgages | 76% to 80%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,257	1,467
Commercial mortgages | 76% to 80% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,078	1,246
Commercial mortgages | 76% to 80% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	119	174
Commercial mortgages | 76% to 80% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	60	47
Commercial mortgages | Greater than 80%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	782	1,068
Commercial mortgages | Greater than 80% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	320	471
Commercial mortgages | Greater than 80% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	362	392
Commercial mortgages | Greater than 80% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	$ 100	$ 205

LENDING ACTIVITIES (Details - R

LENDING ACTIVITIES (Details - Rollforward of the changes in the allowance for losses on Mortgage and other loans receivable) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 297	$ 308
Loans charged off	(7)	(13)
Recoveries of loans previously charged off	0	11
Net charge-offs	(7)	(2)
Provision for loan losses	17	2
Other	0	0
Allowance, end of period	307	308
Loans modified in a troubled debt restructuring	21	84
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	194	171
Loans charged off	(5)	(13)
Recoveries of loans previously charged off	0	11
Net charge-offs	(5)	(2)
Provision for loan losses	37	29
Other	0	0
Allowance, end of period	226	198
Allowance related to individually assessed credit losses	35	12
Commercial mortgage loans	289	352
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	103	137
Loans charged off	(2)	0
Recoveries of loans previously charged off	0	0
Net charge-offs	(2)	0
Provision for loan losses	(20)	(27)
Other	0	0
Allowance, end of period	$ 81	$ 110

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Assets:
Bonds available for sale	$ 235,289,000,000	$ 241,537,000,000
Other bond securities	13,478,000,000	13,998,000,000
Mortgage and other loans receivable	34,642,000,000	33,240,000,000
Other invested assets	23,132,000,000	24,538,000,000
Liabilities:
Long-term Debt	31,812,000,000	30,912,000,000
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	23,132,000,000	24,538,000,000
Held for sale [Member]
Assets:
Mortgage and other loans receivable	2,000,000	137,000,000
Other invested assets	33,000,000	2,000,000
Liabilities:
Long-term Debt	6,000,000	0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	33,000,000	2,000,000
Real Estate and Investment Funds
Liabilities:
Off-balance sheet exposure	111,000,000	106,000,000
Consolidated VIE
Assets:
Bonds available for sale	10,270,000,000	10,233,000,000
Other bond securities	4,815,000,000	5,129,000,000
Mortgage and other loans receivable	1,757,000,000	1,547,000,000
Other invested assets	4,490,000,000	4,222,000,000
Other assets	2,031,000,000	1,995,000,000
Total assets	23,363,000,000	23,126,000,000
Liabilities:
Long-term Debt	3,590,000,000	2,973,000,000
Other liabilities	541,000,000	677,000,000
Total liabilities	4,131,000,000	3,650,000,000
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	4,490,000,000	4,222,000,000
Consolidated VIE | Real Estate and Investment Funds
Assets:
Bonds available for sale	0	0
Other bond securities	0	0
Mortgage and other loans receivable	0	1,000,000
Other invested assets	1,138,000,000	1,052,000,000
Other assets	224,000,000	365,000,000
Total assets	1,362,000,000	1,418,000,000
Liabilities:
Long-term Debt	529,000,000	444,000,000
Other liabilities	103,000,000	224,000,000
Total liabilities	632,000,000	668,000,000
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	1,138,000,000	1,052,000,000
Consolidated VIE | Securitization Vehicles
Assets:
Bonds available for sale	10,270,000,000	10,233,000,000
Other bond securities	4,586,000,000	4,858,000,000
Mortgage and other loans receivable	1,757,000,000	1,442,000,000
Other invested assets	243,000,000	321,000,000
Other assets	1,174,000,000	1,104,000,000
Total assets	18,030,000,000	17,958,000,000
Liabilities:
Long-term Debt	1,117,000,000	771,000,000
Other liabilities	204,000,000	203,000,000
Total liabilities	1,321,000,000	974,000,000
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	243,000,000	321,000,000
Total assets of consolidated securitization vehicles owed to Parent or its subsidiaries	17,400,000,000	17,300,000,000
Consolidated VIE | Structured Investment Vehicles
Assets:
Bonds available for sale	0	0
Other bond securities	225,000,000	266,000,000
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Other assets	101,000,000	50,000,000
Total assets	326,000,000	316,000,000
Liabilities:
Long-term Debt	61,000,000	56,000,000
Other liabilities	0	1,000,000
Total liabilities	61,000,000	57,000,000
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	0	0
Consolidated VIE | Affordable Housing Partnerships
Assets:
Bonds available for sale	0	0
Other bond securities	0	0
Mortgage and other loans receivable	0	0
Other invested assets	3,083,000,000	2,821,000,000
Other assets	446,000,000	384,000,000
Total assets	3,529,000,000	3,205,000,000
Liabilities:
Long-term Debt	1,878,000,000	1,696,000,000
Other liabilities	214,000,000	211,000,000
Total liabilities	2,092,000,000	1,907,000,000
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	3,083,000,000	2,821,000,000
Consolidated VIE | Other
Assets:
Bonds available for sale	0	0
Other bond securities	4,000,000	5,000,000
Mortgage and other loans receivable	0	104,000,000
Other invested assets	26,000,000	28,000,000
Other assets	86,000,000	92,000,000
Total assets	116,000,000	229,000,000
Liabilities:
Long-term Debt	5,000,000	6,000,000
Other liabilities	20,000,000	38,000,000
Total liabilities	25,000,000	44,000,000
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	26,000,000	28,000,000
Unconsolidated VIE
Assets:
Other invested assets	10,800,000,000	11,700,000,000
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	396,190,000,000	416,665,000,000
Maximum Exposure to Loss, On-Balance Sheet	11,249,000,000	12,114,000,000
Maximum Exposure to Loss, Off-Balance Sheet	3,101,000,000	3,160,000,000
Total maximum exposure to loss	14,350,000,000	15,274,000,000
Other invested assets	10,800,000,000	11,700,000,000
Unconsolidated VIE | Real Estate and Investment Funds
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	389,470,000,000	409,087,000,000
Maximum Exposure to Loss, On-Balance Sheet	10,230,000,000	11,015,000,000
Maximum Exposure to Loss, Off-Balance Sheet	1,920,000,000	2,115,000,000
Total maximum exposure to loss	12,150,000,000	13,130,000,000
Unconsolidated VIE | Affordable Housing Partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	4,396,000,000	4,709,000,000
Maximum Exposure to Loss, On-Balance Sheet	744,000,000	785,000,000
Maximum Exposure to Loss, Off-Balance Sheet	0	0
Total maximum exposure to loss	744,000,000	785,000,000
Unconsolidated VIE | Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	2,324,000,000	2,869,000,000
Maximum Exposure to Loss, On-Balance Sheet	275,000,000	314,000,000
Maximum Exposure to Loss, Off-Balance Sheet	1,181,000,000	1,045,000,000
Total maximum exposure to loss	$ 1,456,000,000	$ 1,359,000,000

DERIVATIVES AND HEDGE ACCOUNT72

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of our derivative instruments) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	$ 119,182	$ 115,897
Gross Derivative Assets, Fair Value	3,886	3,977
Gross Derivative Liabilities, Notional Amount	45,801	64,938
Gross Derivative Liabilities, Fair Value	3,453	4,802
Derivative assets, Counterparty netting	(1,265)	(1,265)
Derivative assets, Cash collateral	(1,625)	(903)
Total derivative assets on consolidated balance sheet	996	1,809
Derivative liabilities, Counterparty netting	(1,265)	(1,265)
Derivative liabilities, Cash collateral	(1,074)	(1,521)
Total derivative liabilities on consolidated balance sheet	1,114	2,016
Bifurcated embedded derivatives
Derivative [Line Items]
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Fair Value	3,500	3,100
Derivatives designated as hedging instruments | Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0	175
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	865	782
Gross Derivative Liabilities, Fair Value	10	11
Derivatives designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	2,705	3,527
Gross Derivative Assets, Fair Value	250	385
Gross Derivative Liabilities, Notional Amount	3,921	2,602
Gross Derivative Liabilities, Fair Value	207	184
Derivatives designated as hedging instruments | Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0	0
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	141	113
Gross Derivative Liabilities, Fair Value	0	7
Derivatives not designated as hedging instruments | Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	55,656	51,030
Gross Derivative Assets, Fair Value	2,359	2,328
Gross Derivative Liabilities, Notional Amount	21,381	44,211
Gross Derivative Liabilities, Fair Value	1,891	3,066
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	7,771	9,468
Gross Derivative Assets, Fair Value	724	935
Gross Derivative Liabilities, Notional Amount	9,846	7,674
Gross Derivative Liabilities, Fair Value	1,001	1,185
Derivatives not designated as hedging instruments | Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	14,895	14,060
Gross Derivative Assets, Fair Value	529	305
Gross Derivative Liabilities, Notional Amount	8,727	8,633
Gross Derivative Liabilities, Fair Value	43	12
Derivatives not designated as hedging instruments | Commodity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0	0
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	0	0
Gross Derivative Liabilities, Fair Value	0	0
Derivatives not designated as hedging instruments | Credit contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	3	4
Gross Derivative Assets, Fair Value	2	2
Gross Derivative Liabilities, Notional Amount	801	861
Gross Derivative Liabilities, Fair Value	295	331
Derivatives not designated as hedging instruments | Other contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	38,152	37,633
Gross Derivative Assets, Fair Value	22	22
Gross Derivative Liabilities, Notional Amount	119	62
Gross Derivative Liabilities, Fair Value	$ 6	$ 6

DERIVATIVES AND HEDGE ACCOUNT73

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Derivative [Line Items]
Derivative Liabilities, Notional Amount	$ 45,801	$ 64,938
Derivative Liabilities, Fair Value	3,453	4,802
Collateral
Collateral posted to third parties for derivative transactions	2,800	4,500
Collateral obtained from third parties for derivative transactions	1,700	1,500
Global Capital Markets (GCM) derivatives
Derivative [Line Items]
Derivative Liabilities, Notional Amount	750	801
Derivative Liabilities, Fair Value	$ 280	$ 308

DERIVATIVES AND HEDGE ACCOUNT74

DERIVATIVES AND HEDGE ACCOUNTING (Details - Hedge Accounting) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	$ (6)	$ (4)	$ (48)	$ (9)
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	3	0	2	1
Gain (loss) recognized in earnings on hedged items	(3)	0	(2)	(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
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	0	(6)
Derivatives designated as hedging instruments | Interest rate contracts | Fair value hedging | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on hedged items	0	5	0	7
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	5	0	7
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	0	0	0	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
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to 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	(213)	389	(161)	423
Gain (loss) recognized in earnings on hedged items	232	(345)	190	(409)
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	19	43	29	14
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	1	0	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 hedged items				0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other				0
Derivatives designated as hedging instruments | Foreign exchange contracts | Fair value hedging | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on hedged items	3	5	4	12
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	3	5	4	12
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	0	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
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	0	0
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	(24)	10	(26)	20
Gain (loss) recognized in earnings on hedged items	24	(7)	24	(19)
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	3	(2)	1
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	0	0
Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(221)	179	(554)	40
Derivatives not designated as hedging instruments | Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(316)	123	(700)	88
Derivatives not designated as hedging instruments | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(5)	13	(7)	12
Derivatives not designated as hedging instruments | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	80	18	113	(112)
Derivatives not designated as hedging instruments | Policy fees
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	19	20	39	40
Derivatives not designated as hedging instruments | Policyholder benefits and claims incurred
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	1	5	1	12
Derivatives not designated as hedging instruments | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	251	603	99	1,373
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(76)	182	(122)	154
Derivatives not designated as hedging instruments | Equity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(176)	(141)	(490)	(272)
Derivatives not designated as hedging instruments | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	0
Derivatives not designated as hedging instruments | Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	21	28	36	34
Derivatives not designated as hedging instruments | Other contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	18	20	36	36
Derivatives not designated as hedging instruments | Embedded derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	$ (259)	$ (513)	$ (113)	$ (1,285)

DERIVATIVES AND HEDGE ACCOUNT75

DERIVATIVES AND HEDGE ACCOUNTING (Details - Additional Information) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Credit Derivatives [Line Items]
Collateral posted	$ 2,800	$ 4,500
Fair value of hybrid securities	4,500	4,800
Par value of hybrid securities	9,600	10,100
Credit Risk Related Contingent Features [Member]
Credit Derivatives [Line Items]
Collateral posted	2,200	4,000
Aggregate fair value of net liability position	1,700	$ 3,000
Additional collateral postings and termination payments	$ 83
Global Capital Markets (GCM) derivatives | Super Senior CDS | Arbitrage | Multi-sector CDOs
Credit Derivatives [Line Items]
Derivative weighted average maturity	6 years

INSURANCE LIABILITIES (Details

INSURANCE LIABILITIES (Details - Liability for Unpaid Losses and Loss Adjustment Expenses - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016
LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS
Collateral Held For Deductible Recoverable Amounts					$ 9,900		$ 9,700
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense:
Liability for unpaid claims and claims adjustment expense, balance at the beginning of the period	$ 76,050	$ 73,946	$ 77,077	$ 74,942
Reinsurance recoverable, balance at the beginning of the period	(26,920)	(14,212)	(15,532)	(14,339)
Liability for unpaid claims and claims adjustment expense, Net of Reinsurance	49,130	59,734	61,545	60,603
Foreign exchange effect	463	360	358	200
Dispositions	0	0	0	0
Retroactive reinsurance adjustment	(299)	0	(11,460)	0
Total	49,294	60,094	50,443	60,803
Losses and loss expenses incurred
Current year	4,209	5,023	8,510	9,935
Prior years, excluding discount and amortization of deferred gain	391	6	453	(60)
Prior years, amortization of deferred gain on retroactive reinsurance	(82)	0	(120)	0
Prior years, accretion of discount	260	300	235	291
Total	4,778	5,329	9,078	10,166
Losses and loss expenses paid
Current year	(1,137)	(2,378)	(1,708)	(2,958)
Prior years	(4,252)	(3,423)	(9,043)	(8,389)
Total	(5,389)	(5,801)	(10,751)	(11,347)
Reclassified to liabilities held for sale	79	0	(8)	0
Net liability for unpaid claims and claims adjustment expense, balance at the end of the period	48,762	59,622	48,762	59,622
Reinsurance recoverable, balance at the end of the period	27,660	14,520	27,660	14,520
Total, balance at the end of the period	76,422	74,142	76,422	74,142
Retroactive reinsurance adjustment (net of discount)					(11,460)	$ (299)		$ 0	$ 0
Net Loss Reserves	49,130	$ 59,622	48,762	$ 60,603	$ 48,762	$ 49,130	$ 61,545	$ 59,622	$ 59,734
U.S. Asbestos
Losses and loss expenses incurred
Prior years, amortization of deferred gain on retroactive reinsurance	$ 10		$ 5

INSURANCE LIABILITIES (Detail77

INSURANCE LIABILITIES (Details - Narratives) - USD ($) $ in Millions	Jan. 20, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Insurance Liabilities Disclosure [Line Items]
Collateral Held For Deductible Recoverable Amounts		$ 9,900		$ 9,900			$ 9,700
Liability for Claims and Claims Adjustment Expense		76,422	$ 74,142	76,422	$ 74,142	$ 76,050	77,077	$ 73,946	$ 74,942
Net Loss Reserves		48,762	59,622	48,762	59,622	$ 49,130	61,545	$ 59,734	$ 60,603
Consideration paid	$ 10,200
Contractual deductible recoverable amount		12,700		12,700			12,800
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount		1,788		$ 1,788			3,570
Tabular Discount Rate				3.50%
Workers Compensation Tabular Discount Amount		491		$ 491
Workers Compensation Non Tabular Discount Amount		1,300		1,300
Increase (Decrease) in Loss Reserve Discount		(260)	(300)	$ (235)	(291)
New York
Discounting Of Loss Reserves [Abstract]
Non Tabular Discount Rate				5.00%
Pennsylvania | Accident Year 2001 And prior
Discounting Of Loss Reserves [Abstract]
Non Tabular Discount Rate				6.00%
Legacy Property And Casualty Run Off Insurance Lines [Member]
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount		885		$ 885			$ 987
Increase (Decrease) in Loss Reserve Discount		$ (104)	$ (109)	$ (102)	$ (126)

INSURANCE LIABILITIES (Detail78

INSURANCE LIABILITIES (Details - Discounting of Reserves) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Discounting of Reserves [Line Items]
Tabular Discount Rate			3.50%
Workers Compensation Tabular Discount Amount	$ 491		$ 491
Workers Compensation Non Tabular Discount Amount	1,300		1,300
U.S. Workers' compensation	3,335		3,335		$ 3,570
Retroactive Reinsurance	(1,547)		(1,547)
Net loss reserve discount	1,788		1,788		3,570
Current accident year	29	$ 33	61	$ 81
Accretion and other adjustments to prior year discount	(100)	(63)	(164)	(91)
Effect of interest rate changes	(189)	(270)	(132)	(281)
Net reserve discount benefit (charge)	(260)	(300)	(235)	(291)
Change in discount on loss reserves ceded under retroactive reinsurance	108	0	(1,547)	0
Net change in total reserve discount	(152)	(300)	(1,782)	(291)
U.S Workers' compensation	(152)	(299)	(1,782)	(289)
Asbestos	0	(1)	0	(2)
U.S. Workers Compensation [Member]
Discounting of Reserves [Line Items]
Accretion and other adjustments to prior year discount				(89)
US Liability And Financial Lines [Member]
Discounting of Reserves [Line Items]
U.S. Workers' compensation	2,450		2,450		2,583
Retroactive Reinsurance	(1,547)		(1,547)
Net loss reserve discount	903		903		2,583
Current accident year	29	33	61	81
Accretion and other adjustments to prior year discount	(57)	(47)	(105)	(61)
Effect of interest rate changes	(128)	(177)	(89)	(185)
Net reserve discount benefit (charge)	(156)	(191)	(133)	(165)
Change in discount on loss reserves ceded under retroactive reinsurance	108	0	(1,547)	0
Net change in total reserve discount	(48)	(191)	(1,680)	(165)
U.S Workers' compensation	(48)	(191)	(1,680)	(165)
Asbestos	0	0	0	0
Legacy Property And Casualty Run Off Insurance Lines [Member]
Discounting of Reserves [Line Items]
U.S. Workers' compensation	885		885		987
Net loss reserve discount	885		885		987
Current accident year	0	0	0	0
Accretion and other adjustments to prior year discount	(43)	(16)	(59)	(30)
Effect of interest rate changes	(61)	(93)	(43)	(96)
Net reserve discount benefit (charge)	(104)	(109)	(102)	(126)
Change in discount on loss reserves ceded under retroactive reinsurance	0	0	0	0
Net change in total reserve discount	(104)	(109)	(102)	(126)
U.S Workers' compensation	(104)	(108)	(102)	(124)
Asbestos	0	(1)	0	(2)
UNITED KINGDOM
Discounting of Reserves [Line Items]
Net loss reserve discount	185		185		$ 181
Net change in total reserve discount	$ 4	$ (42)	$ (4)	$ (15)

CONTINGENCIES, COMMITMENTS AN79

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) $ in Millions	Jun. 15, 2015USD ($)	Oct. 22, 2014USD ($)	Sep. 16, 2013individual	Mar. 11, 2013class	Nov. 29, 2012USD ($)item	Nov. 21, 2011	Jun. 30, 2017USD ($)complaint	Jan. 31, 2009complaint	Feb. 09, 2015complaint
Other Commitments
Other Commitments | $							$ 3,000
Chartis U.S.
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Settlement agreement, number of jurisdictions | item					50
Civil penalty paid | $					$ 50
Consolidated 2008 Securities Litigation
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed								8
Payment for legal settlement | $		$ 960
Starr International Litigation
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed | class				2
Damages claimed | $	$ 40,000
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 into the class | individual			286,908
Individual Securities Litigations [Member]
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of funds that are plaintiffs in similar actions									11
Number of actions brought against AIG							9
Number of cases that have been settled							8
Number of claims dismissed							2

CONTINGENCIES, COMMITMENTS AN80

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) $ in Millions	Jun. 30, 2017USD ($)
Other Operations
Guarantor Obligations [Line Items]
Amount outstanding under standby letters of credit at end of period	$ 139

EQUITY (Details - Shares Outsta

EQUITY (Details - Shares Outstanding) - USD ($)	Aug. 02, 2017	Jun. 28, 2017	Mar. 29, 2017	Jun. 27, 2016	Mar. 28, 2016	Jun. 30, 2017	Jun. 30, 2016	May 03, 2017
The following table presents a roll forward of outstanding shares:
Shares, beginning of year						(911,335,651)
Shares, beginning of year						1,906,671,492
Shares, beginning of year						995,335,841
Issuances (in shares)						3,189,425
Shares repurchased						(95,132,646)	(113,000,000)
Shares, end of period						(1,003,278,872)
Shares, end of period						1,906,671,492
Shares, end of period						903,392,620
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Dividend paid (in dollars per share)		$ 0.32	$ 0.32	$ 0.32	$ 0.32
Date of Shareholders of Record		Jun. 14, 2017	Mar. 15, 2017	Jun. 13, 2016	Mar. 14, 2016
Shares repurchased (in shares)						95,132,646	113,000,000
Payments for Repurchase of Common Stock						$ 6,000,000,000	$ 6,248,000,000
Amount paid to purchase warrants						$ 0	$ 263,000,000
Warrants repurchased						0	15,000,000
Subsequent event
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Date of Shareholders of Record	Sep. 15, 2017
Common Stock Issued
The following table presents a roll forward of outstanding shares:
Shares, beginning of year						1,906,671,492
Issuances (in shares)						0
Shares, end of period						1,906,671,492
Common Stock Issued | AIG
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Authorized amount of common Stock share repurchase								$ 2,500,000,000
Aggregate remaining authorization amount of common Stock share repurchase						$ 2,500,000,000
Treasury Stock
The following table presents a roll forward of outstanding shares:
Shares, beginning of year						(911,335,651)
Issuances (in shares)						3,189,425
Shares repurchased						(95,132,646)
Shares, end of period						(1,003,278,872)
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Shares repurchased (in shares)						95,132,646

EQUITY (Details - Rollforward o

EQUITY (Details - Rollforward of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			$ 3,230	$ 2,537
Change in unrealized appreciation (depreciation) of investments			3,179	9,008
Change in deferred acquisition costs adjustment and other			(981)	(690)
Change in future policy benefits			(539)	(1,583)
Changes in foreign currency translation adjustments			146	158
Net actuarial gain (loss)			38	11
Prior service (cost) credit			6	(13)
Deferred tax asset (liability)	$ (127)	$ (822)	(117)	(1,169)
Other Comprehensive Income (Loss)	1,181	2,734	1,732	5,722
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	398	313	122	221
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment	11	(10)	29	(8)
Noncontrolling interests				0
Balance, end of period, net of tax	4,962	8,259	4,962	8,259
Accumulated Other Comprehensive Income
A rollforward of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)			1,732	5,722
Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than-Temporary Credit Impairments Were Recognized
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			426	696
Change in unrealized appreciation (depreciation) of investments			341	(491)
Change in deferred acquisition costs adjustment and other			17	(8)
Change in future policy benefits			0	0
Deferred tax asset (liability)	(64)	(12)	(125)	172
Other Comprehensive Income (Loss)	119	22	233	(327)
Balance, end of period, net of tax	659	369	659	369
Unrealized Appreciation (Depreciation) of All Other Investments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			6,405	5,566
Change in unrealized appreciation (depreciation) of investments			2,838	9,499
Change in deferred acquisition costs adjustment and other			(998)	(682)
Change in future policy benefits			(539)	(1,583)
Deferred tax asset (liability)	(6)	(830)	47	(1,398)
Other Comprehensive Income (Loss)	653	2,409	1,348	5,836
Balance, end of period, net of tax	7,753	11,402	7,753	11,402
Foreign Currency Translation Adjustments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			(2,629)	(2,879)
Changes in foreign currency translation adjustments			146	158
Deferred tax asset (liability)	(52)	23	(24)	63
Other Comprehensive Income (Loss)	398	313	122	221
Noncontrolling interests				0
Balance, end of period, net of tax	(2,507)	(2,658)	(2,507)	(2,658)
Retirement Plan Liabilities Adjustment
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			(972)	(846)
Net actuarial gain (loss)			38	11
Prior service (cost) credit			6	(13)
Deferred tax asset (liability)	(5)	(3)	(15)	(6)
Other Comprehensive Income (Loss)	11	(10)	29	(8)
Balance, end of period, net of tax	$ (943)	$ (854)	$ (943)	$ (854)

EQUITY (Details - Other compreh

EQUITY (Details - Other comprehensive income reclassification adjustments) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	$ 1,603	$ 4,615	$ 2,342	$ 7,666
Less: Reclassification adjustments included in net income	295	1,059	493	775
Total other comprehensive income (loss), before income tax expense (benefit)	1,308	3,556	1,849	6,891
Less: Income tax expense (benefit)	127	822	117	1,169
Other comprehensive income (loss)	1,181	2,734	1,732	5,722
Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than-Temporary Credit Impairments Were Recognized
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	203	59	393	(399)
Less: Reclassification adjustments included in net income	20	25	35	100
Total other comprehensive income (loss), before income tax expense (benefit)	183	34	358	(499)
Less: Income tax expense (benefit)	64	12	125	(172)
Other comprehensive income (loss)	119	22	233	(327)
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	944	4,277	1,779	7,917
Less: Reclassification adjustments included in net income	285	1,038	478	683
Total other comprehensive income (loss), before income tax expense (benefit)	659	3,239	1,301	7,234
Less: Income tax expense (benefit)	6	830	(47)	1,398
Other comprehensive income (loss)	653	2,409	1,348	5,836
Accumulated Translation Adjustment [Member]
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	450	290	146	158
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	450	290	146	158
Less: Income tax expense (benefit)	52	(23)	24	(63)
Other comprehensive income (loss)	398	313	122	221
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	6	(11)	24	(10)
Less: Reclassification adjustments included in net income	(10)	(4)	(20)	(8)
Total other comprehensive income (loss), before income tax expense (benefit)	16	(7)	44	(2)
Less: Income tax expense (benefit)	5	3	15	6
Other comprehensive income (loss)	$ 11	$ (10)	$ 29	$ (8)

EQUITY (Details - Reclassificat

EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains (losses)	$ (8)	$ 1,136	$ (63)	$ 232
Amortization of deferred acquisition costs	1,115	1,345	2,223	2,607
Policyholder benefits and losses incurred	6,284	6,872	12,331	13,259
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax	295	1,059	493	775
Income from continuing operations before income tax expense (benefit)	1,667	2,858	3,394	2,644
Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income from continuing operations before income tax expense (benefit)	295	1,059	493	775
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax	20	25	35	100
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)	20	25	35	100
Income from continuing operations before income tax expense (benefit)	20	25	35	100
Unrealized appreciation (depreciation) of all other investments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax	285	1,038	478	683
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)	227	1,074	367	661
Amortization of deferred acquisition costs	58	(36)	111	22
Policyholder benefits and losses incurred	0	0	0	0
Income from continuing operations before income tax expense (benefit)	285	1,038	478	683
Change in retirement plan liabilities adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax	(10)	(4)	(20)	(8)
Change in retirement plan liabilities adjustment | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax	(10)	(4)	(20)	(8)
Prior-Service Costs | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax	1	5	1	9
Actuarial Gains (Losses) | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax	$ (11)	$ (9)	$ (21)	$ (17)

EARNINGS PER SHARE (EPS) (Detai

EARNINGS PER SHARE (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator for EPS:
Income (Loss) from Continuing Operations	$ 1,110	$ 1,934	$ 2,321	$ 1,778
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	(12)	11	14	(9)
Net income (loss) attributable to AIG common shareholders from continuing operations	1,122	1,923	2,307	1,787
Income (loss) from discontinued operations, net of income tax	8	(10)	8	(57)
Net income (loss) attributable to AIG common shareholders	$ 1,130	$ 1,913	$ 2,315	$ 1,730
Denominator for EPS:
Weighted average shares outstanding - basic	925,751,084	1,113,587,927	953,109,915	1,135,068,193
Dilutive shares	22,497,687	26,458,046	23,517,737	28,021,555
Weighted average shares outstanding - diluted	948,248,771	1,140,045,973	976,627,652	1,163,089,748
Basic:
Income (loss) from continuing operations	$ 1.21	$ 1.73	$ 2.42	$ 1.57
Income (loss) from discontinued operations	0.01	(0.01)	0.01	(0.05)
Net income (loss) attributable to AIG	1.22	1.72	2.43	1.52
Diluted:
Income (loss) from continuing operations	1.18	1.69	2.36	1.54
Income (loss) from discontinued operations	0.01	(0.01)	0.01	(0.05)
Net Income (loss) attributable to AIG	$ 1.19	$ 1.68	$ 2.37	$ 1.49
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive	1,900,000	100,000	1,800,000	300,000

EMPLOYEE BENEFITS (Details - Pe

EMPLOYEE BENEFITS (Details - Pension and Postretirement Plans) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Pensions
Components of net periodic benefit cost:
Service cost	$ 15	$ 12	$ 29	$ 24
Interest cost	46	50	93	101
Expected return on assets	(70)	(80)	(140)	(160)
Amortization of prior service (credit) cost	0	0	0	0
Amortization of net (gain) loss	10	8	20	16
Curtailment (gain) loss	0	(1)	0	(3)
Net periodic benefit cost (credit)	1	(11)	2	(22)
U.S. Pension Plans
Components of net periodic benefit cost:
Service cost	7	5	13	9
Interest cost	42	45	85	91
Expected return on assets	(64)	(74)	(128)	(147)
Amortization of prior service (credit) cost	0	0	0	0
Amortization of net (gain) loss	7	6	14	12
Curtailment (gain) loss	0	0	0	0
Net periodic benefit cost (credit)	(8)	(18)	(16)	(35)
Non U.S. Pension Plans
Components of net periodic benefit cost:
Service cost	8	7	16	15
Interest cost	4	5	8	10
Expected return on assets	(6)	(6)	(12)	(13)
Amortization of prior service (credit) cost	0	0	0	0
Amortization of net (gain) loss	3	2	6	4
Curtailment (gain) loss	0	(1)	0	(3)
Net periodic benefit cost (credit)	9	7	18	13
Postretirement Plans
Components of net periodic benefit cost:
Service cost	1	1	2	3
Interest cost	2	3	5	5
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	(1)	(3)	(1)	(5)
Amortization of net (gain) loss	0	0	0	0
Net periodic benefit cost (credit)	2	1	6	3
U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost	1	0	1	1
Interest cost	1	2	3	3
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	(1)	(3)	(1)	(5)
Amortization of net (gain) loss	0	0	0	0
Net periodic benefit cost (credit)	1	(1)	3	(1)
Non U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost	0	1	1	2
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 (credit)	$ 1	$ 2	$ 3	$ 4

INCOME TAXES (Details - Income

INCOME TAXES (Details - Income (loss) from continuing operations and income tax expense (benefit)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Income (loss) from continuing operations before income tax expense (benefit)
Income (loss) from continuing operations before income tax expense (benefit)	$ 1,667	$ 2,858	$ 3,394	$ 2,644
U.S.:
Income tax expense (benefit)	557	924	1,073	866
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, pre-tax income (loss)
Income (loss) from continuing operations before income tax expense (benefit)	1,667	2,858	3,394	2,644
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, tax expense/benefit
Income tax expense (benefit)	557	$ 924	1,073	$ 866
Valuation allowance
Increase (Decrease) in certain other valuation allowances associated with foreign jurisdictions	$ (8)		(23)
Valuation allowance related to unrealized losses that are no more-likely-than-not to be realized			$ 0
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, percentage of pre-tax income (loss)
U.S. federal income tax at statutory rate (as a percent)	35.00%	35.00%	35.00%	35.00%
Adjustments:
Amounts attributable to continuing operations (as a percent)	33.40%	32.30%	31.60%	32.80%
Accounting for Uncertainty in Income Taxes
Unrecognized tax benefits, excluding interest and penalties	$ 4,600		$ 4,600		$ 4,500
Unrecognized tax benefits, if recognized would not affect the effective tax rate	100		100		100
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate	4,500		4,500		4,400
Unrecognized tax benefits, interest and penalties accrued	$ 1,300		1,300		$ 1,200
Unrecognized tax benefits, interest net of the federal benefit (expense) and penalties			$ (75)	$ 48
Unrecognized tax benefits, period of reasonably possible change in balance			Although it is reasonably possible that a change in the balance of unrecognized tax 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.

INCOME TAXES (Details - Assessm

INCOME TAXES (Details - Assessment of Deferred Tax Asset (liabilities) Valuation Allowance) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Non-Life Companies [Member]
Deferred Tax Assets, Liabilities [Line Items]
Deferred tax asset valuation allowance allocated to other comprehensive income	$ 140	$ 260
Life Insurance Companies [Member]
Deferred Tax Assets, Liabilities [Line Items]
Deferred tax asset valuation allowance allocated to other comprehensive income	$ 214	$ 468

INFORMATION PROVIDED IN CONNE89

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Balance Sheets) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Assets:
Short-term investments	$ 12,094	$ 12,302
Other investments	308,652	315,873
Total investments	320,746	328,175
Cash	2,517	1,868	$ 1,784	$ 1,629
Other assets, including deferred income taxes	175,944	161,022
Assets held for sale	555	7,199
Total assets	499,762	498,264
Liabilities:
Insurance liabilities	277,574	275,120
Long-term Debt	31,812	30,912
Other liabilities, including intercompany balances	115,225	109,268
Liabilities held for sale	827	6,106
Total liabilities	425,438	421,406
Total AIG shareholders' equity	73,732	76,300
Non-redeemable noncontrolling interests	592	558
Total equity	74,324	76,858	90,537	90,210
Total liabilities and equity	499,762	498,264
AIG (As Guarantor)
Assets:
Short-term investments	4,478	4,424
Other investments	5,563	7,154
Total investments	10,041	11,578
Cash	5	2	12	34
Loans to subsidiaries	34,565	34,692
Investment in consolidated subsidiaries	44,763	42,582
Other assets, including deferred income taxes	20,277	24,099
Total assets	109,651	112,953
Liabilities:
Long-term Debt	22,117	21,405
Other liabilities, including intercompany balances	13,297	14,671
Loans from subsidiaries	505	577
Total liabilities	35,919	36,653
Total AIG shareholders' equity	73,732	76,300
Total equity	73,732	76,300
Total liabilities and equity	109,651	112,953
AIGLH
Assets:
Cash	11	34	6	116
Investment in consolidated subsidiaries	29,407	27,309
Other assets, including deferred income taxes	247	239
Total assets	29,665	27,582
Liabilities:
Long-term Debt	642	642
Other liabilities, including intercompany balances	195	194
Loans from subsidiaries	0	0
Total liabilities	837	836
Total AIG shareholders' equity	28,828	26,746
Total equity	28,828	26,746
Total liabilities and equity	29,665	27,582
Other Subsidiaries
Assets:
Short-term investments	11,024	13,218
Other investments	303,089	308,719
Total investments	314,113	321,937
Cash	2,501	1,832	$ 1,766	$ 1,479
Loans to subsidiaries	505	576
Other assets, including deferred income taxes	157,434	140,743
Assets held for sale	555	7,199
Total assets	475,108	472,287
Liabilities:
Insurance liabilities	277,574	275,120
Long-term Debt	9,053	8,865
Other liabilities, including intercompany balances	107,327	103,975
Loans from subsidiaries	34,565	34,691
Liabilities held for sale	827	6,106
Total liabilities	429,346	428,757
Total AIG shareholders' equity	45,170	42,972
Non-redeemable noncontrolling interests	592	558
Total equity	45,762	43,530
Total liabilities and equity	475,108	472,287
Reclassification and Eliminations [Member]
Assets:
Short-term investments	(3,408)	(5,340)
Other investments	0
Total investments	(3,408)	(5,340)
Loans to subsidiaries	(35,070)	(35,268)
Investment in consolidated subsidiaries	(74,170)	(69,891)
Other assets, including deferred income taxes	(2,014)	(4,059)
Total assets	(114,662)	(114,558)
Liabilities:
Other liabilities, including intercompany balances	(5,594)	(9,572)
Loans from subsidiaries	(35,070)	(35,268)
Total liabilities	(40,664)	(44,840)
Total AIG shareholders' equity	(73,998)	(69,718)
Total equity	(73,998)	(69,718)
Total liabilities and equity	$ (114,662)	$ (114,558)

INFORMATION PROVIDED IN CONNE90

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Income (Loss)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Equity in earnings of consolidated subsidiaries	$ 0	$ 0	$ 0	$ 0
Other income	12,502	14,724	25,134	26,503
Total revenues	12,502	14,724	25,134	26,503
Expenses:
Interest expense	292	320	590	626
(Gains) losses on extinguishment of debt	(4)	7	(5)	90
Other expenses	10,547	11,539	21,155	23,143
Total benefits, losses and expenses	10,835	11,866	21,740	23,859
Income (loss) from continuing operations before income tax expense (benefit)	1,667	2,858	3,394	2,644
Income tax expense (benefit)	557	924	1,073	866
Income (loss) from continuing operations	1,110	1,934	2,321	1,778
Income (loss) from discontinued operations, net of income taxes	8	(10)	8	(57)
Net income (loss)	1,118	1,924	2,329	1,721
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	(12)	11	14	(9)
Net income (loss) attributable to AIG	1,130	1,913	2,315	1,730
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries	1,430	2,168	2,892	1,224
Other income	232	127	428	64
Total revenues	1,662	2,295	3,320	1,288
Expenses:
Interest expense	241	250	483	494
(Gains) losses on extinguishment of debt	0	0	0	77
Other expenses	181	257	516	448
Total benefits, losses and expenses	422	507	999	1,019
Income (loss) from continuing operations before income tax expense (benefit)	1,240	1,788	2,321	269
Income tax expense (benefit)	109	(125)	5	(1,462)
Income (loss) from continuing operations	1,131	1,913	2,316	1,731
Income (loss) from discontinued operations, net of income taxes	(1)	0	(1)	(1)
Net income (loss)	1,130	1,913	2,315	1,730
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	1,130	1,913	2,315	1,730
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries	815	888	1,415	(795)
Other income	0	0	0	5
Total revenues	815	888	1,415	(790)
Expenses:
Interest expense	13	13	25	27
(Gains) losses on extinguishment of debt	0	0	0	0
Other expenses	0	7	1	14
Total benefits, losses and expenses	13	20	26	41
Income (loss) from continuing operations before income tax expense (benefit)	802	868	1,389	(831)
Income tax expense (benefit)	(4)	(7)	(8)	(13)
Income (loss) from continuing operations	806	875	1,397	(818)
Income (loss) from discontinued operations, net of income taxes	0	0	0	0
Net income (loss)	806	875	1,397	(818)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	806	875	1,397	(818)
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries	0	0	0	0
Other income	12,248	14,843	24,630	26,881
Total revenues	12,248	14,843	24,630	26,881
Expenses:
Interest expense	39	59	85	108
(Gains) losses on extinguishment of debt	(4)	7	(5)	13
Other expenses	10,386	11,520	20,711	23,125
Total benefits, losses and expenses	10,421	11,586	20,791	23,246
Income (loss) from continuing operations before income tax expense (benefit)	1,827	3,257	3,839	3,635
Income tax expense (benefit)	452	1,056	1,076	2,341
Income (loss) from continuing operations	1,375	2,201	2,763	1,294
Income (loss) from discontinued operations, net of income taxes	9	(10)	9	(56)
Net income (loss)	1,384	2,191	2,772	1,238
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	(12)	11	14	(9)
Net income (loss) attributable to AIG	1,396	2,180	2,758	1,247
Reclassification and Eliminations [Member]
Revenues:
Equity in earnings of consolidated subsidiaries	(2,245)	(3,056)	(4,307)	(429)
Other income	22	(246)	76	(447)
Total revenues	(2,223)	(3,302)	(4,231)	(876)
Expenses:
Interest expense	(1)	(2)	(3)	(3)
(Gains) losses on extinguishment of debt	0	0	0	0
Other expenses	(20)	(245)	(73)	(444)
Total benefits, losses and expenses	(21)	(247)	(76)	(447)
Income (loss) from continuing operations before income tax expense (benefit)	(2,202)	(3,055)	(4,155)	(429)
Income tax expense (benefit)	0	0	0	0
Income (loss) from continuing operations	(2,202)	(3,055)	(4,155)	(429)
Income (loss) from discontinued operations, net of income taxes	0	0	0	0
Net income (loss)	(2,202)	(3,055)	(4,155)	(429)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	$ (2,202)	$ (3,055)	$ (4,155)	$ (429)

INFORMATION PROVIDED IN CONNE91

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Comprehensive Income (Loss)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ 1,118	$ 1,924	$ 2,329	$ 1,721
Other Comprehensive Income (Loss)	1,181	2,734	1,732	5,722
Comprehensive income (loss)	2,299	4,658	4,061	7,443
Total comprehensive income (loss) attributable to noncontrolling interests	(12)	11	14	(9)
Comprehensive income (loss) attributable to AIG	2,311	4,647	4,047	7,452
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,130	1,913	2,315	1,730
Other Comprehensive Income (Loss)	1,181	2,734	1,732	5,722
Comprehensive income (loss)	2,311	4,647	4,047	7,452
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	2,311	4,647	4,047	7,452
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	806	875	1,397	(818)
Other Comprehensive Income (Loss)	1,122	7,734	5,782	7,260
Comprehensive income (loss)	1,928	8,609	7,179	6,442
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	1,928	8,609	7,179	6,442
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,384	2,191	2,772	1,238
Other Comprehensive Income (Loss)	(1,541)	(7,006)	49,489	48,548
Comprehensive income (loss)	(157)	(4,815)	52,261	49,786
Total comprehensive income (loss) attributable to noncontrolling interests	(12)	11	14	(9)
Comprehensive income (loss) attributable to AIG	(145)	(4,826)	52,247	49,795
Reclassification and Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(2,202)	(3,055)	(4,155)	(429)
Other Comprehensive Income (Loss)	419	(728)	(55,271)	(55,808)
Comprehensive income (loss)	(1,783)	(3,783)	(59,426)	(56,237)
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	$ (1,783)	$ (3,783)	$ (59,426)	$ (56,237)

INFORMATION PROVIDED IN CONNE92

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ (9,285)	$ 571
Cash flows from investing activities:
Sales of investments	46,646	34,787
Proceeds from divested businesses, net	538
Purchase of investments	(32,351)	(34,637)
Loans to subsidiaries - net	0	0
Contributions from (to) subsidiaries - net	0	0
Net change in restricted cash	(44)	(78)
Net change in short-term investments	1,047	(1,755)
Other, net	(917)	1,419
Net cash provided by (used in) investing activities	14,919	(264)
Cash flows from financing activities:
Issuance of long-term debt	2,221	6,688
Repayments of long-term debt	(1,606)	(2,919)
Issuance of Common Stock	0	0
Purchase of Common Stock	(6,000)	(6,248)
Intercompany loans - net		0
Cash dividends paid	(597)	(713)
Other, net	955	3,002
Net cash provided by (used in) financing activities	(5,027)	(190)
Effect of exchange rate changes on cash	(24)	38
Net increase (decrease) in cash	583	155
Cash at beginning of year	1,868	1,629
Change in cash of businesses held for sale	66
Cash at end of year	2,517	1,784
Interest:
Third party	(682)	(650)
Intercompany	0	0
Taxes:
Income tax authorities	(402)	(117)
Intercompany	0	0
Aer Cap
Non-cash financing and investing activities:
Non-cash consideration received from sale		0
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	665	2,734
Cash flows from investing activities:
Sales of investments	5,030	1,944
Purchase of investments	(1,158)	(606)
Loans to subsidiaries - net	350	1,050
Contributions from (to) subsidiaries - net	931	880
Net change in restricted cash	0	0
Net change in short-term investments	402	(733)
Other, net	(46)	(298)
Net cash provided by (used in) investing activities	5,509	2,237
Cash flows from financing activities:
Issuance of long-term debt	1,108	3,832
Repayments of long-term debt	(606)	(1,421)
Issuance of Common Stock	0	0
Purchase of Common Stock	(6,000)	(6,248)
Intercompany loans - net	(73)	(180)
Cash dividends paid	(597)	(713)
Other, net	(3)	(263)
Net cash provided by (used in) financing activities	(6,171)	(4,993)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash	3	(22)
Cash at beginning of year	2	34
Cash at end of year	5	12
Interest:
Third party	(513)	(515)
Intercompany	0	0
Taxes:
Income tax authorities	(280)	(7)
Intercompany	1,495	629
Non-cash financing and investing activities:
Return of capital	26	1
Dividends received in the form of securities	735	1,790
Capital contributions	198	2,915
Fixed maturity securities received in exchange for equity securities	0	440
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	629	680
Cash flows from investing activities:
Sales of investments	0	0
Purchase of investments	0	0
Loans to subsidiaries - net	0	0
Contributions from (to) subsidiaries - net	0	0
Net change in restricted cash	0	0
Net change in short-term investments	0	0
Other, net	0	0
Net cash provided by (used in) investing activities	0	0
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	(63)
Issuance of Common Stock	0	0
Purchase of Common Stock	0	0
Intercompany loans - net	0	(3)
Cash dividends paid	(652)	(724)
Other, net	0	0
Net cash provided by (used in) financing activities	(652)	(790)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash	(23)	(110)
Cash at beginning of year	34	116
Cash at end of year	11	6
Interest:
Third party	0	(27)
Intercompany	0	0
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	(9,222)	(1,022)
Cash flows from investing activities:
Sales of investments	45,014	39,689
Proceeds from divested businesses, net	538
Purchase of investments	(34,591)	(40,877)
Loans to subsidiaries - net	73	180
Contributions from (to) subsidiaries - net	0	0
Net change in restricted cash	(44)	(78)
Net change in short-term investments	645	(1,022)
Other, net	(871)	1,717
Net cash provided by (used in) investing activities	10,764	(391)
Cash flows from financing activities:
Issuance of long-term debt	1,113	2,856
Repayments of long-term debt	(1,000)	(1,435)
Proceeds from drawdown on the Department of the Treasury Commitment		0
Issuance of Common Stock	0	0
Purchase of Common Stock	0	0
Intercompany loans - net	(350)	(1,047)
Cash dividends paid	(705)	(1,097)
Other, net	27	2,385
Net cash provided by (used in) financing activities	(915)	1,662
Effect of exchange rate changes on cash	(24)	38
Net increase (decrease) in cash	603	287
Cash at beginning of year	1,832	1,479
Change in cash of businesses held for sale	66
Cash at end of year	2,501	1,766
Interest:
Third party	(169)	(108)
Intercompany	0	0
Taxes:
Income tax authorities	(122)	(110)
Intercompany	(1,495)	(629)
Reclassification and Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(1,357)	(1,821)
Cash flows from investing activities:
Sales of investments	(3,398)	(6,846)
Purchase of investments	3,398	6,846
Loans to subsidiaries - net	(423)	(1,230)
Contributions from (to) subsidiaries - net	(931)	(880)
Net cash provided by (used in) investing activities	(1,354)	(2,110)
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	0
Proceeds from drawdown on the Department of the Treasury Commitment		0
Issuance of Common Stock	0	0
Intercompany loans - net	423	1,230
Cash dividends paid	1,357	1,821
Other, net	931	880
Net cash provided by (used in) financing activities	2,711	3,931
Interest:
Third party	0	0
Intercompany	0	0
Taxes:
Income tax authorities		0
Intercompany	$ 0	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	Aug. 02, 2017	Jun. 28, 2017	Mar. 29, 2017	Jun. 27, 2016	Mar. 28, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Subsequent Event [Line Items]
Dividends declared per common share						$ 0.32	$ 0.32	$ 0.64	$ 0.64
Date of Shareholders of Record		Jun. 14, 2017	Mar. 15, 2017	Jun. 13, 2016	Mar. 14, 2016
Subsequent event
Subsequent Event [Line Items]
Dividends declared per common share	$ 0.32
Date Dividends Declared	Aug. 2, 2017
Date Dividends To Be Paid	Sep. 29, 2017
Date of Shareholders of Record	Sep. 15, 2017