American International (AIG) 10-Q 3 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
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	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		897,683,367
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Fixed maturity securities:
Bonds available for sale, at fair value (amortized cost: 2018 - $225,352; 2017 - $225,461)	$ 233,914	$ 238,992
Other bond securities, at fair value (See Note 5)	12,397	12,772
Equity Securities:
Common and preferred stock available for sale, at fair value (cost: 2017 - $1,305)	0	1,708
Other common and preferred stock, at fair value (See Note 5)	1,725	589
Mortgage and other loans receivable, net of allowance (portion measured at fair value: 2018 - $0; 2017 - $5)	38,540	37,023
Other invested assets (portion measured at fair value: 2018 - $6,232; 2017 - $6,248)	21,183	20,822
Short-term investments, including restricted cash of 2018 - $47; 2017 - $58 (portion measured at fair value: 2018 - $3,094; 2017 - $2,615)	14,616	10,386
Total investments	322,375	322,292
Cash	2,103	2,362
Accrued investment income	2,390	2,356
Premiums and other receivables, net of allowance	11,107	10,248
Reinsurance assets, net of allowance	34,744	33,024
Deferred income taxes	14,558	14,033
Deferred policy acquisition costs	11,631	10,994
Other assets, including restricted cash of $221 in 2018 and $317 in 2017 (portion measured at fair value: 2018 - $774; 2017 - $922)	9,646	10,194
Separate account assets, at fair value	90,589	92,798
Total assets	499,143	498,301
Liabilities:
Liability for unpaid losses and loss adjustment expenses	78,098	78,393
Unearned premiums	20,038	19,030
Future policy benefits for life and accident and health insurance contracts	44,895	45,432
Policyholder contract deposits (portion measured at fair value: 2018 - $3,711; 2017 - $4,150)	138,153	135,602
Other policyholder funds	3,473	3,648
Other liabilities (portion measured at fair value: 2018 - $1,158; 2017 - $1,124)	26,921	26,050
Long-term debt (portion measured at fair value: 2018 - $2,820; 2017 - $2,888)	33,619	31,640
Separate account liabilities	90,589	92,798
Total liabilities	435,786	432,593
Contingencies, commitments and guarantees (see Note 10)
AIG shareholders' equity:
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2018 - 1,906,671,492 and 2017 - 1,906,671,492	4,766	4,766
Treasury stock, at cost; 2018 - 1,008,989,984 shares; 2017 - 1,007,626,835 shares of common stock	(47,706)	(47,595)
Additional paid-in capital	80,841	81,078
Retained earnings	22,671	21,457
Accumulated other comprehensive income (loss)	2,220	5,465
Total AIG shareholders' equity	62,792	65,171
Non-redeemable noncontrolling interests	565	537
Total equity	63,357	65,708
Total liabilities and equity	$ 499,143	$ 498,301

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical - assets and liabilities) - USD ($) $ in Millions	Mar. 31, 2018		Dec. 31, 2017
Assets:
Bonds available for sale, amortized cost	$ 225,352		$ 225,461
Common and preferred stock available for sale, cost	0		1,305
Mortgage and other loans receivable, portion measured at fair value	0		5
Other invested assets, portion measured at fair value	6,232		6,248
Short-term investments, portion measured at fair value	3,094		2,615
Other assets, portion measured at fair value	774		922
Liabilities:
Policyholder contract deposits, portion measured at fair value	3,711		4,150
Other liabilities, portion measured at fair value	1,158		1,124
Long-term debt, portion measured at fair value	2,820		2,888
Other Assets
Assets:
Restricted cash	221	[1]	317
Short-term investments
Assets:
Restricted cash	$ 47	[1]	$ 58
[1]	Includes funds held for tax sharing payments to AIG Parent, security deposits for certain leased aircraft and escrow funds, security deposits and replacement reserve deposits related to our affordable housing investments.

CONSOLIDATED BALANCE SHEETS (P4

CONSOLIDATED BALANCE SHEETS (Parenthetical - equity) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
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	1,008,989,984	1,007,626,835

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Premiums	$ 7,275	$ 7,782
Policy fees	764	724
Net investment income	3,261	3,686
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities	(75)	(39)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income (loss)	(12)	(21)
Net other-than-temporary impairments on available for sale securities recognized in net income (loss)	(87)	(60)
Other realized capital gains (losses)	68	(55)
Total net realized capital gains (losses)	(19)	(115)
Other income	431	555
Total revenues	11,712	12,632
Benefits, losses and expenses:
Policyholder benefits and losses incurred	5,667	6,047
Interest credited to policyholder account balances	916	910
Amortization of deferred policy acquisition costs	1,358	1,108
General operating and other expenses	2,271	2,443
Interest expense	277	298
(Gain) loss on extinguishment of debt	4	(1)
Net (gain) loss on sale of divested businesses	(8)	100
Total benefits, losses and expenses	10,485	10,905
Income (loss) from continuing operations before income tax expense (benefit)	1,227	1,727
Income tax expense (benefit):
Income tax expense (benefit)	277	516
Income (loss) from continuing operations	950	1,211
Income (loss) from discontinued operations, net of income tax expense	(1)	0
Net income (loss)	949	1,211
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	26
Net income (loss) attributable to AIG	$ 938	$ 1,185
Basic:
Income (loss) from continuing operations	$ 1.03	$ 1.21
Income (loss) from discontinued operations	0	0
Net income (loss) attributable to AIG	1.03	1.21
Diluted:
Income (loss) from continuing operations	1.01	1.18
Income (loss) from discontinued operations	0	0
Net income (loss) attributable to AIG	$ 1.01	$ 1.18
Weighted average shares outstanding:
Basic	907,951,597	980,777,243
Diluted	925,266,577	1,005,315,030
Dividends declared per common share	$ 0.32	$ 0.32

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ 949	$ 1,211
Other comprehensive income (loss), net of tax
Change in unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken	(150)	114
Change in unrealized appreciation (depreciation) of all other investments	(2,708)	695
Change in foreign currency translation adjustments	158	(276)
Change in retirement plan liabilities adjustment	29	18
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	2	0
Other comprehensive income (loss)	(2,669)	551
Comprehensive income (loss)	(1,720)	1,762
Comprehensive income (loss) attributable to noncontrolling interests	11	26
Comprehensive income (loss) attributable to AIG	$ (1,731)	$ 1,736

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, 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	(163)	(163)	0	139	(302)	0	0	0
Purchase of common stock	(3,585)	(3,585)	0	(3,585)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	1,211	1,185	0	0	0	1,185	0	26
Dividends	(307)	(307)	0	0	0	(307)	0	0
Other Comprehensive Income (Loss)	551	551	0	0	0	0	551	0
Current and deferred income taxes	0	0	0	0	0	0	0	0
Net increase due to acquisitions and consolidations	39	0	0	0	0	0	0	39
Contributions from noncontrolling interests	0	0	0	0	0	0	0	0
Distributions to noncontrolling interests	(37)	0	0	0	0	0	0	(37)
Other	100	88	0	2	84	2	0	12
Balance at Mar. 31, 2017	74,667	74,069	4,766	(44,915)	80,846	29,591	3,781	598
Balance at Dec. 31, 2017	65,708	65,171	4,766	(47,595)	81,078	21,457	5,465	537
Increase (Decrease) in Stockholders' Equity
Common stock issued under stock plans	(150)	(150)	0	186	(336)	0	0	0
Purchase of common stock	(298)	(298)	0	(298)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	949	938	0	0	0	938	0	11
Dividends	(289)	(289)	0	0	0	(289)	0	0
Other Comprehensive Income (Loss)	(2,669)	(2,669)	0	0	0	0	(2,669)	0
Net increase due to acquisitions and consolidations	36	0	0	0	0	0	0	36
Contributions from noncontrolling interests	10	0	0	0	0	0	0	10
Distributions to noncontrolling interests	(25)	0	0	0	0	0	0	(25)
Other	93	97	0	1	99	(3)	0	(4)
Balance at Mar. 31, 2018	63,357	62,792	4,766	(47,706)	80,841	22,671	2,220	565
Increase (Decrease) in Stockholders' Equity
Cumulative effect of change in accounting principle, net of tax	$ (8)	$ (8)	$ 0	$ 0	$ 0	$ 568	$ (576)	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ 949	$ 1,211
(Income) loss from discontinued operations	1	0
Noncash revenues, expenses, gains and losses included in income:
Net gains on sales of securities available for sale and other assets	(120)	(112)
Net (gains) losses on sales of divested businesses	(8)	100
(Gains) losses on extinguishment of debt	4	(1)
Unrealized (gains) losses in earnings - net	268	(226)
Equity in income from equity method investments, net of dividends or distributions	(86)	(109)
Depreciation and other amortization	1,382	1,012
Impairments of assets	105	173
Changes in operating assets and liabilities:
Insurance reserves	137	401
Premiums and other receivables and payables - net	400	(189)
Reinsurance assets and funds held under reinsurance treaties	(1,706)	(12,237)
Capitalization of deferred policy acquisition costs	(1,397)	(1,201)
Current and deferred income taxes - net	250	446
Other, net	(1,117)	396
Total adjustments	(1,888)	(11,547)
Net cash provided by (used in) operating activities	(938)	(10,336)
Sales or distribution of:
Available for sale securities	5,638	15,307
Other securities	1,385	888
Other invested assets	1,064	1,816
Divested businesses, net	6	24
Maturities of fixed maturity securities available for sale	5,347	7,145
Principal payments received on and sales of mortgage and other loans receivable	1,037	1,543
Purchases of:
Available for sale securities	(9,042)	(10,028)
Other securities	(384)	(185)
Other invested assets	(847)	(783)
Mortgage and other loans receivable	(2,490)	(2,181)
Net change in short-term investments	(3,040)	1,250
Other, net	(646)	(297)
Net cash provided by (used in) investing activities	(1,972)	14,499
Proceeds from (payments for)
Policyholder contract deposits	7,069	4,002
Policyholder contract withdrawals	(4,160)	(3,682)
Issuance of long-term debt	3,039	151
Repayments of long-term debt	(1,327)	(602)
Purchase of Common Stock	(298)	(3,585)
Dividends paid	(289)	(307)
Other, net	(1,548)	(25)
Net cash provided by (used in) financing activities	2,486	(4,048)
Effect of exchange rate changes on cash and restricted cash	58	(82)
Net increase (decrease) in cash and restricted cash	(366)	33
Cash and restricted cash at beginning of year	2,737	2,107
Change in cash of businesses held for sale	0	52
Cash and restricted cash at end of period	$ 2,371	$ 2,192

Supplementary Disclosure of Con

Supplementary Disclosure of Consolidated Cash Flow Information - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Cash		$ 2,103	$ 1,918
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows		2,371	2,192
Cash paid during the period for:
Interest		357	354
Taxes		28	68
Non-cash investing/financing activities:
Interest credited to policyholder contract deposits included in financing activities		825	824
Other Assets
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash	[1]	221	213
Short-term investments
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash	[1]	$ 47	$ 61
[1]	Includes funds held for tax sharing payments to AIG Parent, security deposits for certain leased aircraft and escrow funds, security deposits and replacement reserve deposits related to our affordable housing investments.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2018
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, 2017 ( the 2017 Annual Report). The condensed consolidated financial information as of December 31, 2017 included herein has been derived from the audited Consolidated Financial Stat ements in the 2017 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 March 31, 2018 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: liability for unpaid losses and loss adjustment expenses (loss reserves); reinsurance assets; valuation of future policy benefit liabilities and timing and extent of loss recognition; valuation of liabilities for guaranteed benefit features of variable annuity products; estimated gross profits to value deferred 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; allowances for loan losses; liability for legal contingencies; fair value measurements of certain financial assets and liabilities; and income tax assets and liabilities, including recoverability of our net deferred tax asset and the predictability of future tax operating profitability of the character necessary to realize the net deferred tax asset and provisional estimates associated with the Tax Act. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2018
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2 . Summary of Significant Accounting Policies Accounting Standards Adopted During 2018 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, financial instruments, and certain other agreements that are governed under other GAAP guidance, but could affect the revenue recognition for certain of our other activities. We adopted the standard usi ng the modified retrospective approach on its required effective date of January 1, 2018. Our analysis of revenues indicated that substantially all of our revenues were from sources excluded from the scope of the standard. For those revenue sources withi n the scope of the standard, there were no material changes in the timing or measurement of revenues based upon the guidance. As substantially all of our revenue sources were excluded from the scope of the standard, the adoption of the standard did not ha ve a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued an accounting stand ard 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 financial 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 without readily determinable fair va lues 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 requirements for financial instrument s carried at amortized cost. We adopted the standard on its effective date of January 1, 2018 using the modified retrospective approach. The impact of the adoption is primarily related to the reclassification of unrealized gains of equity securities result ing in a net decrease to beginning Accumulated other comprehensive income and a corresponding net increase to beginning Retained earnings of $824 million. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued an acco unting standard that addresses diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments provide clarity on the treatment of eight specifically defined types of cash inflows and out flows. We adopted the standard retrospectively on its effective date of January 1, 2018. The standard addresses presentation in the statement of cash flows only and did not have a material impact on our reported consolidated financial condition, results o f operations or required disclosures. Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issued an accounting standard that will require an entity to recognize the income tax consequences of an intra-entity transfer of an as set other than inventory when the transfer occurs, rather than when the asset is sold to a third party. We adopted the standard on its effective date of January 1, 2018 using a modified retrospective approach. The adoption of this standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. 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 restricted cash or restricted cash equivalents in the statement of cash flows. We adopted the standard retrospectively on its effective date of January 1, 2018. The standard addresses presentation of restricted cash in the Statement of Cash Flows only and had no effect on our reported consolidated financial condition, r esults of operations or required disclosures. Gains and Losses from the Derecognition of Nonfinancial Assets In February 2017, the FASB issued an accounting standard that clarifies the scope of the derecognition guidance for the sale, transfer and derecogn ition of non-financial assets to noncustomers that aligns with the new revenue recognition principles. The standard also adds new accounting for partial sales of nonfinancial assets (including real estate) that requires an entity to derecognize a nonfinan cial asset when it 1) ceases to have a controlling financial interest in the legal entity that holds the asset based on the consolidation model and 2) transfers control of the asset based on the revenue recognition model. We adopted this standard on its ef fective date of January 1, 2018 under the modified retrospective approach. Based on our evaluation, the standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Imp roving 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 of net periodic pension and postretirement benefit costs in th e 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 separately presented in the income statement. The amendments als o allow only the service cost component to be eligible for capitalization when applicable. We adopted this standard on its effective date of January 1, 2018. The standard primarily addresses the presentation of the service cost component of net periodic b enefit costs in the income statement. AIG’s U.S. pension plans are frozen and no longer accrue benefits, which are reflected as service costs. Therefore, the standard did not have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. 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 a n entity to apply modification accounting. We prospectively adopted this standard on its effective date of January 1, 2018 and the standard did not have a material effect on our reported consolidated financial condition, results of operations, cash flow s or required disclosures. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued an accounting standard that allows the optional reclassification of stranded tax effects within accumulated other comprehensive income to retained earnings that arise due to the enactment of the Tax Cuts and Jobs Act of 2017 (Tax Act). The amount of the reclassification would reflect the effect of the change in the U.S. federal corporate income tax r ate on the gross deferred tax amounts and related valuation allowances, if any, at the date of enactment of the Tax Act and other income tax effects of the Tax Act on items remaining in accumulated other comprehensive income. We adopted the standard effective January 1, 2018. The impact of the adoption of the standard resulted in an increase to beginning Accumulated other comprehensive income and a corresponding decrease to beginning Retained earnings of $248 million. For more information on the adoption of the Tax Act, see Note 14. Future Application of Accounting Standards 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. We plan to adopt the standard on its effective date of January 1, 2019 using a modified retrospective approach upon adoption. 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. We do not ex pect the impact of the standard to have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Financial Instruments - Credit Losses In June 2016, the FASB issued an accounting standar d 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 with a new “current expected credit loss model” that generally will result in earlier recognition of credit losses. The standard will apply to financial assets subject to credit losses, including loans measured at amortized cost, reinsurance receivables and certain off-balance sheet credit exposures. Addit ionally, the impairment of available-for-sale debt securities, including purchased credit deteriorated securities, are subject to the new guidance and will be measured in a similar manner, except that losses will be recognized as allowances rather than red uctions 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 continuing to develop our implementation plan to adopt the standard and are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures. While we expect an increase in our allowances for credit losses for the financial instruments within scope of the standard, given the objective of the new standard, the amount of any change will be dependent on our portfolios’ composition and quality at the adoption date as well as economic conditions and forecasts at that time. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued an accounting standard that eliminates the requirement to calculate the implied fair value of goodwill, through a hypothetical purchase price alloca tion, 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 permi tted. We are evaluating the timing of our adoption. Any impact of the standard will be dependent on the market conditions of the reporting units at the time of adoption. Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB iss ued an accounting standard that shortens the amortization period for certain callable debt securities held at a premium by requiring the premium to be amortized to the earliest call date. The standard does not require an accounting change for securities h eld at a discount, which continue to be amortized to maturity. We plan to adopt the standard retrospectively on its effective date, January 1, 2019. We do not expect the standard to have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Derivatives and Hedging In August 2017, the FASB issued an accounting standard that improves and expands hedge accounting for both financial and commodity risks. The provisions of the amendment ar e intended to better align the accounting with an entity’s risk management activities, enhance the transparency on how the economic results are presented in the financial statements and the footnote, and simplify the application of hedge accounting treatme nt. The standard is effective on January 1, 2019, with early adoption permitted. We are evaluating the timing of adoption and are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and r equired disclosures.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2018
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, as follows. General Insurance General Insurance business is presented as two operating segments: North America — consists of insurance businesses in the United States, Canada and Bermuda. International — consists of insurance businesses in Japan, the United Kingdom, Europe, Asia Pacific, Latin America, Puerto Rico, Australia, the Middle East and Africa. Results are presented before internal reinsurance transactions. North America and International operating segments consist of the following products: – Commercial Lines — consists of Liability, Fina ncial Lines, Property and Special Risks. – Personal Insurance — consists of Personal Lines and Accident and Health. Life and Retirement Life and Retirement business is presented as four operating segments: Individual Retirement — consists of fixed annuities, fix ed index annuities, variable annuities and retail mutual funds. Group Retirement — consists of group mutual funds, group fixed annuities, group variable annuities, individual annuity and investment products, financial planning and advisory services. Life I nsurance — primary products in the U.S. include term life and universal life insurance. International operations include distribution of life and health products in the UK and Ireland. Institutional Markets — consists of stable value wrap products, structu red settlement and pension risk transfer annuities, corporate- and bank-owned life insurance and guaranteed investment contracts (GICs). Other Operations Other Operations category consists of: Income from assets held by AIG Parent and other corporate subsi diaries. General operating expenses not attributable to specific reporting segments. Interest expense. Blackboard — a data-enabled, digital subsidiary that provides the commercial insurance industry with alternative solutions using digital technology, data analytics and automation. Fuji Life — consists of term insurance, life insurance, endowment policies and annuities. The sale of this business was completed on April 30, 2017. Legacy Portfolio Legacy Portfolio segment consists of: Legacy Insurance Lines represent exited or discontinued product lines, policy forms or distribution channels. Effective February 2018, our newly formed Bermuda domiciled composite reinsurer, DSA Reinsurance Company, Ltd. (DSA Re) is included in our Legacy Portfolio. Legacy Gener al Insurance Run-Off Lines — consists of asbestos and environmental exposures and other exposures within certain Property and Casualty profit centers no longer actively marketed, including excess workers’ compensation, environmental impairment liability, p ublic entity liability, accident & health, physicians and surgeons professional liability, and various other workers’ compensation and general liability exposures. Legacy Life and Retirement Run-Off Lines — include whole life, long-term care and exited acc ident & health product lines. Also includes certain structured settlement, pension risk transfer annuities and single premium immediate annuities written prior to April 2012. Legacy Investments — include investment classes that we have placed into run-off. We evaluate segment performance based on adjusted revenues and adjusted pre-tax income (loss). Adjusted revenues and adjusted pre-tax income (loss) are derived by excluding certain items from total revenues and net income (loss) attributable to AIG, respe ctively. For the items excluded from adjusted revenues and adjusted pre-tax income (loss) see the table below. The following table presents AIG’s continuing operations by operating segment: Three Months Ended March 31, 2018 2017 Adjusted Adjusted Total Pre-tax Total Pre-tax (in millions) Revenues Income (Loss) Revenues Income (Loss) General Insurance North America $ 3,340 $ 320 $ 3,840 $ 828 International 4,104 190 3,698 233 Total General Insurance 7,444 510 7,538 1,061 Life and Retirement Individual Retirement 1,361 499 1,373 539 Group Retirement 761 282 718 243 Life Insurance 1,061 52 1,013 54 Institutional Markets 277 59 599 62 Total Life and Retirement 3,460 892 3,703 898 Other Operations 150 (342) 474 (308) Legacy Portfolio 836 145 1,084 342 AIG Consolidation and elimination (62) 11 (64) 48 Total AIG Consolidated adjusted revenues and adjusted pre-tax income 11,828 1,216 12,735 2,041 Reconciling Items from adjusted pre-tax income to pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits (77) (77) 11 11 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - (31) - 53 Other income (expense) - net (11) - (9) - Gain (Loss) on extinguishment of debt - (4) - 1 Net realized capital losses * (29) (19) (115) (115) Income (loss) from divested businesses - 8 - (100) Non-operating litigation reserves and settlements 1 (13) 10 6 (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - (34) - (14) Net loss reserve discount benefit (charge) - 205 - 25 Restructuring and other costs - (24) - (181) Revenues and Pre-tax income $ 11,712 $ 1,227 $ 12,632 $ 1,727 * Includes all net realized capital gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2018
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	4 . Fair Value Measurements Fair Value Measurements on a Recurring Basis Assets and liabilities recorded at fair value in the Condensed Consolidated Balance 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: March 31, 2018 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting (a) Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ - $ 2,833 $ - $ - $ - $ 2,833 Obligations of states, municipalities and political subdivisions - 15,550 2,261 - - 17,811 Non-U.S. governments 25 15,689 9 - - 15,723 Corporate debt - 129,468 1,871 - - 131,339 RMBS - 20,050 15,839 - - 35,889 CMBS - 13,025 584 - - 13,609 CDO/ABS - 8,864 7,846 - - 16,710 Total bonds available for sale 25 205,479 28,410 - - 233,914 Other bond securities: U.S. government and government sponsored entities 594 2,183 - - - 2,777 Non-U.S. governments - 54 - - - 54 Corporate debt - 1,784 19 - - 1,803 RMBS - 391 1,427 - - 1,818 CMBS - 493 73 - - 566 CDO/ABS - 603 4,776 - - 5,379 Total other bond securities 594 5,508 6,295 - - 12,397 Other equity securities (b) 1,716 6 3 - - 1,725 Mortgage and other loans receivable - - - - - - Other invested assets (c) 5 1 292 - - 298 Derivative assets: Interest rate contracts - 2,549 - - - 2,549 Foreign exchange contracts - 792 3 - - 795 Equity contracts 48 142 78 - - 268 Credit contracts - - 2 - - 2 Other contracts - - 17 - - 17 Counterparty netting and cash collateral - - - (1,589) (1,268) (2,857) Total derivative assets 48 3,483 100 (1,589) (1,268) 774 Short-term investments 2,611 483 - - - 3,094 Separate account assets 85,362 5,227 - - - 90,589 Total $ 90,361 $ 220,187 $ 35,100 $ (1,589) $ (1,268) $ 342,791 Liabilities: Policyholder contract deposits $ - $ 15 $ 3,696 $ - $ - $ 3,711 Derivative liabilities: Interest rate contracts 1 2,185 17 - - 2,203 Foreign exchange contracts - 1,213 4 - - 1,217 Equity contracts - 13 - - - 13 Credit contracts - 12 252 - - 264 Other contracts - - 5 - - 5 Counterparty netting and cash collateral - - - (1,589) (980) (2,569) Total derivative liabilities 1 3,423 278 (1,589) (980) 1,133 Long-term debt - 2,820 - - - 2,820 Other liabilities 25 - - - - 25 Total $ 26 $ 6,258 $ 3,974 $ (1,589) $ (980) $ 7,689 December 31, 2017 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting (a) Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 201 $ 2,455 $ - $ - $ - $ 2,656 Obligations of states, municipalities and political subdivisions - 16,240 2,404 - - 18,644 Non-U.S. governments 20 15,631 8 - - 15,659 Corporate debt - 133,003 1,173 - - 134,176 RMBS - 21,098 16,136 - - 37,234 CMBS - 13,217 624 - - 13,841 CDO/ABS - 8,131 8,651 - - 16,782 Total bonds available for sale 221 209,775 28,996 - - 238,992 Other bond securities: U.S. government and government sponsored entities 238 2,564 - - - 2,802 Non-U.S. governments - 57 - - - 57 Corporate debt - 1,891 18 - - 1,909 RMBS - 421 1,464 - - 1,885 CMBS - 485 74 - - 559 CDO/ABS - 604 4,956 - - 5,560 Total other bond securities 238 6,022 6,512 - - 12,772 Equity securities available for sale: Common stock 1,061 - - - - 1,061 Preferred stock 18 515 - - - 533 Mutual funds 110 4 - - - 114 Total equity securities available for sale 1,189 519 - - - 1,708 Other equity securities 589 - - - - 589 Mortgage and other loans receivable - - 5 - - 5 Other invested assets (c) - 1 250 - - 251 Derivative assets: Interest rate contracts 1 2,170 - - - 2,171 Foreign exchange contracts - 827 4 - - 831 Equity contracts 188 252 82 - - 522 Credit contracts - - 1 - - 1 Other contracts - - 20 - - 20 Counterparty netting and cash collateral - - - (1,464) (1,159) (2,623) Total derivative assets 189 3,249 107 (1,464) (1,159) 922 Short-term investments 2,078 537 - - - 2,615 Separate account assets 87,141 5,657 - - - 92,798 Total $ 91,645 $ 225,760 $ 35,870 $ (1,464) $ (1,159) $ 350,652 Liabilities: Policyholder contract deposits $ - $ 14 $ 4,136 $ - $ - $ 4,150 Derivative liabilities: Interest rate contracts 2 2,176 22 - - 2,200 Foreign exchange contracts - 1,241 4 - - 1,245 Equity contracts 2 19 - - - 21 Credit contracts - 14 263 - - 277 Other contracts - - 5 - - 5 Counterparty netting and cash collateral - - - (1,464) (1,249) (2,713) Total derivative liabilities 4 3,450 294 (1,464) (1,249) 1,035 Long-term debt - 2,888 - - - 2,888 Other liabilities 46 43 - - - 89 Total $ 50 $ 6,395 $ 4,430 $ (1,464) $ (1,249) $ 8,162 (a ) Represents netting of derivative exposures covered by qualifying master netting agreements. (b ) As a result of the adoption of the Recognition and Measurement of Financial Assets and Financial Liabilities standard on January 1, 2018 (F inancial Instruments Recognition and Measurement Standard ) , equity securities are no longer classified and accounted for as available for sale securities . (c ) Excludes investments that are meas ured at fair value using the net asset value (NAV) per share (or its equivalent), w hich totaled $ 5.9 billion and $ 6.0 billion as of March 31, 2018 and December 31, 2017 , respectively. 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 suff icient frequency and volume in an active market. Conversely, assets are transferred from Level 2 to Level 1 when transaction volume and frequency are indicative of an active market. During the three -month periods ended March 31, 2018 and 2017 , we transferred $ 16 million and $ 53 million, respectively, of securities issued by Non-U.S. government entities from Level 1 to Level 2, because they are no longer considered actively traded . For similar reasons, during the three -month periods ended March 31, 2018 and 2017 , we transferred $ 191 million and $ 63 million, respectively, of securities issued by the U.S. governme nt and government sponsored entities from Level 1 to Level 2. We had no material transfers from Level 2 to Level 1 during the three -month periods ended March 31, 2018 and 2017 . Changes in Level 3 Recurring Fair Value Measurements The following tables present changes during the three -month periods ended March 31, 2018 and 2017 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realized and unrea lized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at March 31, 2018 and 2017 : Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value Gains (Losses) Other Issuances and Gross Gross to Assets Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Three Months Ended March 31, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,404 $ 1 $ (75) $ (69) $ - $ - $ - $ - $ 2,261 $ - Non-U.S. governments 8 (4) 4 1 - - - - 9 - Corporate debt 1,173 (57) 10 248 565 (68) - - 1,871 - RMBS 16,136 266 5 (536) - (32) - - 15,839 - CMBS 624 6 (17) (23) - (6) - - 584 - CDO/ABS 8,651 8 (88) (710) - (15) - - 7,846 - Total bonds available for sale 28,996 220 (161) (1,089) 565 (121) - - 28,410 - Other bond securities: Corporate debt 18 1 - - - - - - 19 - RMBS 1,464 39 - (76) - - - - 1,427 51 CMBS 74 (1) - (1) 1 - - - 73 (1) CDO/ABS 4,956 89 - (260) - (9) - - 4,776 8 Total other bond securities 6,512 128 - (337) 1 (9) - - 6,295 58 Other equity securities (a) - - - 3 - - - - 3 2 Mortgage and other loans receivable 5 - - (5) - - - - - - Other invested assets 250 23 1 18 - - - - 292 30 Total $ 35,763 $ 371 $ (160) $ (1,410) $ 566 $ (130) $ - $ - $ 35,000 $ 90 Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value (Gains) Losses Other Issuances and Gross Gross to Liabilities Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Liabilities: Policyholder contract deposits $ 4,136 $ (506) $ - $ 66 $ - $ - $ - $ - $ 3,696 $ 604 Derivative liabilities, net: Interest rate contracts 22 (3) - (2) - - - - 17 3 Foreign exchange contracts - (10) - 11 - - - - 1 3 Equity contracts (82) 4 - - - - - - (78) (4) Credit contracts 262 (10) - (2) - - - - 250 10 Other contracts (15) (17) - 20 - - - - (12) 17 Total derivative liabilities, net (b) 187 (36) - 27 - - - - 178 29 Long-term debt (c) - - - - - - - - - - Total $ 4,323 $ (542) $ - $ 93 $ - $ - $ - $ - $ 3,874 $ 633 Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value Gains (Losses) Other Issuances and Gross Gross to Assets Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Three Months Ended March 31, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,040 $ 2 $ (4) $ 21 $ - $ (18) $ - $ - $ 2,041 $ - Non-U.S. governments 17 - - (1) - - - - 16 - Corporate debt 1,133 (4) (3) (13) 136 (170) - - 1,079 - RMBS 16,906 289 151 (858) 8 (9) - - 16,487 - CMBS 2,040 5 5 (348) - (699) - - 1,003 - CDO/ABS 7,835 6 48 (102) - (32) - - 7,755 - Total bonds available for sale 29,971 298 197 (1,301) 144 (928) - - 28,381 - Other bond securities: Corporate debt 17 1 - - - - - - 18 1 RMBS 1,605 55 - (125) - (33) - - 1,502 24 CMBS 155 - - (17) - (73) - - 65 1 CDO/ABS 5,703 173 - (368) - - - - 5,508 70 Total other bond securities 7,480 229 - (510) - (106) - - 7,093 96 Equity securities available for sale: Common stock - - - 8 - - - - 8 - Total equity securities available for sale - - - 8 - - - - 8 - Other equity securities - - - - - - - - - - Mortgage and other loans receivable 11 - - - - - - - 11 - Other invested assets 204 (1) (5) (17) - (1) - - 180 - Total $ 37,666 $ 526 $ 192 $ (1,820) $ 144 $ (1,035) $ - $ - $ 35,673 $ 96 Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value (Gains) Losses Other Issuances and Gross Gross to Liabilities Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Liabilities: Policyholder contract deposits $ 3,033 $ (45) $ - $ 84 $ - $ - $ - $ - $ 3,072 $ 98 Derivative liabilities, net: Interest rate contracts 38 (3) - (3) - - - - 32 3 Foreign exchange contracts 11 - - (5) - - - - 6 - Equity contracts (58) (11) - 7 - - - - (62) 5 Credit contracts 329 (15) - 1 - - - - 315 11 Other contracts (11) (19) - 19 - - - - (11) (1) Total derivative liabilities, net (b) 309 (48) - 19 - - - - 280 18 Long-term debt (c) 71 12 - (25) - - - - 58 (2) Total $ 3,413 $ (81) $ - $ 78 $ - $ - $ - $ - $ 3,410 $ 114 (a) As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, equity securities are no longer classified and accounted for as available for sale securities. (b) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. (c) Includes guaranteed investment agreements (GIAs), no tes, 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 I n c o m e a s f o l l o w s : Net Net Realized Investment Capital Other (in millions) Income Gains (Losses) Income Total Three Months Ended March 31, 2018 Bonds available for sale $ 282 $ (62) $ - $ 220 Other bond securities 23 (4) 109 128 Other equity securities - - - - Other invested assets 25 - (2) 23 Three Months Ended March 31, 2017 Bonds available for sale $ 298 $ - $ - $ 298 Other bond securities 75 6 148 229 Other equity securities - - - - Other invested assets - (3) 2 (1) Net Net Realized Investment Capital Other (in millions) Income (Gains) Losses Income Total Three Months Ended March 31, 2018 Policyholder contract deposits - (506) - (506) Derivative liabilities, net - 1 (37) (36) Long-term debt - - - - Three Months Ended March 31, 2017 Policyholder contract deposits - (45) - (45) Derivative liabilities, net - (7) (41) (48) Long-term debt - - 12 12 The following table presents the gross compo nents of purchases, sales, issuance s and settlements, net, shown a bove, for the three - month periods ended March 31, 2018 and 2017 related to Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets: Issuances Purchases, Sales, and Issuances and (in millions) Purchases Sales Settlements Settlements, Net (a) Three Months Ended March 31, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 15 $ - $ (84) $ (69) Non-U.S. governments 2 - (1) 1 Corporate debt 254 (3) (3) 248 RMBS 233 (5) (764) (536) CMBS 12 - (35) (23) CDO/ABS 495 (851) (354) (710) Total bonds available for sale 1,011 (859) (1,241) (1,089) Other bond securities: RMBS 1 (5) (72) (76) CMBS - - (1) (1) CDO/ABS - (4) (256) (260) Total other bond securities 1 (9) (329) (337) Other equity securities 3 - - 3 Mortgage and other loans receivable - (5) - (5) Other invested assets 22 - (4) 18 Total assets $ 1,037 $ (873) $ (1,574) $ (1,410) Liabilities: Policyholder contract deposits $ - $ 112 $ (46) $ 66 Derivative liabilities, net (7) - 34 27 Long-term debt (b) - - - - Total liabilities $ (7) $ 112 $ (12) $ 93 Three Months Ended March 31, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 37 $ (5) $ (11) $ 21 Non-U.S. governments - (1) - (1) Corporate debt - - (13) (13) RMBS 339 (244) (953) (858) CMBS 39 (67) (320) (348) CDO/ABS 13 - (115) (102) Total bonds available for sale 428 (317) (1,412) (1,301) Other bond securities: RMBS 98 (167) (56) (125) CMBS - (11) (6) (17) CDO/ABS - - (368) (368) Total other bond securities 98 (178) (430) (510) Equity securities available for sale 8 - - 8 Other equity securities - - - - Mortgage and other loans receivable - - - - Other invested assets 1 - (18) (17) Total assets $ 535 $ (495) $ (1,860) $ (1,820) Liabilities: Policyholder contract deposits $ - $ 70 $ 14 $ 84 Derivative liabilities, net - - 19 19 Long-term debt (b) - - (25) (25) Total liabilities $ - $ 70 $ 8 $ 78 (a) There were no issuances during the three -month period s ended March 31, 2018 and 2017 , respectively . (b) Includes GIAs, notes, bonds, loans and mortgages payable . Both observable and unobservable inputs ma y 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 March 31, 2018 and 2017 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 exclud es $ 24 million and $ 8 million of net losses related to assets and liabilities transferred into Level 3 during the three - month periods ended March 31, 2018 and 2017 , respectively, and include s $ 1 million of net gains related to assets and liabilities transferred out of Level 3 during the three -month period ended March 31, 2017 . Transfers of Level 3 Assets During t he three -month periods ended March 31, 2018 and 2017 , transfers into Level 3 assets primarily included certain investments in private placement corporate debt, RMBS, CMBS and CDO/ABS . Transfers of private placement co rporate 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 characteristics of a specific security or associated market liquidity . The transfers of investments in RMBS, CMBS and CDO and certain ABS into Level 3 assets were due to decreases in market transparency and liquidity for individual security types. Du ring the three -month periods ended March 31, 2018 and 2017 , transfers out of Level 3 assets primarily included private placement and other corporate debt, CMBS, RMBS, CDO/ABS and certain investments in municipal securities . Transfers of certain investments in 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 f or 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 the 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 -month periods ended March 31, 2018 and 2017 . 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 March 31, Valuation Range (in millions) 2018 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,571 Discounted cash flow Yield 3.82% - 4.51% (4.16%) Corporate debt 1,638 Discounted cash flow Yield 4.74% - 13.88% (9.31%) RMBS (a) 15,679 Discounted cash flow Constant prepayment rate 3.71% - 12.82% (8.27%) Loss severity 40.73% - 75.96% (58.34%) Constant default rate 3.23% - 8.25% (5.74%) Yield 2.99% - 5.33% (4.16%) CDO/ABS (a) 5,200 Discounted cash flow Yield 3.69% - 4.99% (4.34%) CMBS 456 Discounted cash flow Yield 2.82% - 6.34% (4.58%) Liabilities: Embedded derivatives within Policyholder contract deposits: Guaranteed minimum withdrawal benefits (GMWB) 1,601 Discounted cash flow Equity volatility 6.45% - 50.55% Base lapse rate 0.35% - 14.00% Dynamic lapse multiplier 30.00% - 170.00% Mortality multiplier (c) 40.00% - 153.00% Utilization 90.00% - 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 1,517 Discounted cash flow Lapse rate 0.50% - 40.00% Mortality multiplier (c) 42.00% - 162.00% Option Budget 1.00% - 4.00% Indexed Life 554 Discounted cash flow Base lapse rate 2.00% - 19.00% Mortality rate 0.00% - 40.00% Fair Value at December 31, Valuation Range (in millions) 2017 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,620 Discounted cash flow Yield 3.55% - 4.32% (3.94%) Corporate debt 1,086 Discounted cash flow Yield 3.26% - 12.22% (7.74%) RMBS (a) 16,156 Discounted cash flow Constant prepayment rate 3.97% - 13.42% (8.69%) Loss severity 43.15% - 77.15% (60.15%) Constant default rate 3.31% - 8.30% (5.80%) Yield 2.73% - 5.19% (3.96%) CDO/ABS (a) 5,254 Discounted cash flow Yield 3.38% - 4.78% (4.08%) CMBS 487 Discounted cash flow Yield 2.22% - 7.77% (4.99%) Liabilities: Embedded derivatives within Policyholder contract deposits: GMWB 1,994 Discounted cash flow Equity volatility 6.45% - 51.25% Base lapse rate 0.35% - 14.00% Dynamic lapse multiplier 30.00% - 170.00% Mortality multiplier (c) 40.00% - 153.00% Utilization 90.00% - 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 1,603 Discounted cash flow Lapse rate 0.50% - 40.00% Mortality multiplier (c) 42.00% - 162.00% Option Budget 1.00% - 4.00% Indexed Life 515 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 inputs are shown as multipliers of the 2012 Individual Annuity Mortality Basic table. 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 from the value -weighted av erage. 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 inputs to be those for which m arket 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 nature of the instrument being measured at fair value. The following paragraphs provide a general description of sensitivities of significant unobservable inputs along with interrelationships between and among the significant unobservable inputs and their impact on the fair value measu rements. The effect of a change in a particular assumption in the sensitivity analysis below is considered independently of changes in any other assumptions. In practice, simultaneous changes in assumptions may not always have a linear effect on the inputs discussed below. Interrelationships may also exist between observable and unobservable inputs. Such relationships have not been included in the discussion below. For each of the individual relationships described below, the inverse relationship would also generally apply. Obligations of States, Municipalities and Political Subdivisions The significant unobservable input used in the fair value measurement of certain investments in obligations of states, municipalities and political subdivisions is yield. I n general, increases in the yield would decrease the fair value of investments in obligations of states, municipalities and political subdivisions. Corporate Debt Corporate debt securities included in Level 3 are primarily private placement issuances that are not traded in active markets or that are subject to transfer restrictions. Fair value measurements consider illiquidity and non -transferability. When observable price quotations are not available, fair value is determined based on discounted cash flow models using discount rates based on credit spreads, yields or price levels of publicly -traded debt of the issuer or other comparable securities, considering illiquidity and structure. The significant unobservable input used in the fair value measurement o f corporate debt is the yield. The yield is affected by the market movements in credit spreads and U.S. Treasury yields. In addition, the migration in credit quality of a given security generally has a corresponding effect on the fair value measurement of the security. For example, a downward migration of credit quality would increase spreads. Holding U.S. Treasury rates constant, an increase in corporate credit spreads would decrease the fair value of corporate debt . RMBS and CDO/ABS The significant unob servable inputs used in fair value measurements of RMBS and certain CDO/ABS valued by third -party valuation service providers are constant prepayment rates (CPR), loss severity, constant default rates (CDR) and yield. A change in the assumptions used for the probability of default will generally be accompanied by a corresponding change in the assumption used for the loss severity and an inverse change in the assumption used for prepayment rates. In general, increases in CPR, loss severity, CDR and yield, in isolation, would result in a decrease in the fair value measurement. Changes in fair value based on variations in assumptions generally cannot be extrapolated because the relationship between the directional change of each input is not usually linear . C MBS The significant unobservable input used in fair value measurements for CMBS is the yield. Prepayment assumptions for each mortgage pool are factored into the yield. CMBS generally feature a lower degree of prepayment risk than RMBS because commercial m ortgages generally contain a penalty for prepayment. In general, increases in the yield would decrease the fair value of CMBS . Embedded derivatives within Policyholder contract deposits Embedded derivatives reported within Policyholder co ntract deposits include GMWB within variable annuity products and interest crediting rates based on market indices within index annuities, indexed life and GICs . For any given contract, assumptions for unobservable inputs vary throughout the period over which cash flows are projected for purposes of valuing the emb edded derivative. The following unobservable inputs are used for valuing embedded derivatives measured at fair value: Long-term equity volatilities represent equity volatility beyond the period for which observable equity volatilities are available. Increa ses in assumed volatility will generally increase the fair value of both the projected cash flows from rider fees as well as the projected cash flows related to benefit payments . Therefore, the net change in the fair value of the liability may be either a decrease or an increase, depending on the relative changes in projected rider fees and projected benefit payments. Equity / interest rate correlation estimates the relationship between changes in equity returns and interest rates in the economic scenario generator used to value our GMWB embedded derivatives. In general, a higher positive correlation assumes that equity markets and interest rates move in a more correlated fashion, which generally increases the fair value of the liability. Base lapse rate assumptions are determined by company experience and are adjusted at the contract level using a dynamic lapse function, which reduces the base lapse rate when the contract is in-the-money (when the contract holder’s guaranteed value, as estimated by the c ompany, is worth more than their underlying account value). Lapse rates are also generally assumed to be lower in periods when a surrender charge applies. Increases in assumed lapse rates will generally decrease the fair value of the liability, as fewer po licyholders would persist to collect guaranteed withdrawal amounts. Mortality rate assumptions, which vary by age and gender, are based on company experience and include a mortality improvement assumption. Increases in assumed mortality rates will decreas e the fair value of the liability, while lower mortality rate assumptions will generally increase the fair value of the liability, because guaranteed payments will be made for a longer period of time. Utilization assumptions estimate the timing when policy holders with a GMWB will elect to utilize their benefit and begin taking withdrawals. The assumptions may vary by the type of guarantee, tax-qualified status, the contract’s withdrawal history and the age of the policyholder. Utilization assumptions are b ased on company experience, which includ es partial withdrawal behavior. Increases in assumed utilization rates will generally increase the fair value of the liability. Option budget estimates the expected long-term cost of options used to hedge exposures a ssociated with equity price changes. The level of option budgets determines future costs of the options, which impacts the growth in account value and the valuation of embedded derivatives . Investments in C ertain E ntities C arried at F air V alue U sing N et A sset Value P er S hare The following table includes information related to our investments in certain other invested assets, including private equity funds, hedge funds and other alternative investments that calculate net asset value per share (or its equivalent). For these investments, which are measured at fair value on a recurring basis, we use the net asset value per share to measure fair value. March 31, 2018 December 31, 2017 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 $ 1,261 $ 719 $ 1,243 $ 706 Real Estate / Infrastructure Investments in real estate properties and infrastructure positions

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2018
INVESTMENTS
INVESTMENTS	5 . Investments Securities Available for Sale The following table presents the amortized cost or cost and fair value of our available for sale securities ( a ) : Other-Than- Amortized Gross Gross Temporary Cost or Unrealized Unrealized Fair Impairments (in millions) Cost Gains Losses Value in AOCI (b) March 31, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 2,764 $ 121 $ (52) $ 2,833 $ - Obligations of states, municipalities and political subdivisions 16,943 941 (73) 17,811 - Non-U.S. governments 15,350 570 (197) 15,723 - Corporate debt 127,106 6,020 (1,787) 131,339 13 Mortgage-backed, asset-backed and collateralized: RMBS 33,131 3,150 (392) 35,889 1,343 CMBS 13,558 273 (222) 13,609 29 CDO/ABS 16,500 284 (74) 16,710 26 Total mortgage-backed, asset-backed and collateralized 63,189 3,707 (688) 66,208 1,398 Total bonds available for sale (c) 225,352 11,359 (2,797) 233,914 1,411 December 31, 2017 Bonds available for sale: U.S. government and government sponsored entities $ 2,532 $ 160 $ (36) $ 2,656 $ - Obligations of states, municipalities and political subdivisions 17,377 1,297 (30) 18,644 - Non-U.S. governments 15,059 717 (117) 15,659 - Corporate debt 126,310 8,666 (800) 134,176 17 Mortgage-backed, asset-backed and collateralized: RMBS 34,181 3,273 (220) 37,234 1,568 CMBS 13,538 408 (105) 13,841 42 CDO/ABS 16,464 370 (52) 16,782 29 Total mortgage-backed, asset-backed and collateralized 64,183 4,051 (377) 67,857 1,639 Total bonds available for sale (c) 225,461 14,891 (1,360) 238,992 1,656 Equity securities available for sale: Common stock 703 379 (21) 1,061 - Preferred stock 504 29 - 533 - Mutual funds 98 16 - 114 - Total equity securities available for sale 1,305 424 (21) 1,708 - Total $ 226,766 $ 15,315 $ (1,381) $ 240,700 $ 1,656 (a) As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, equity securities are no longer classified and accounted for as available for sale securities. (b) Represents the amount of other-than-temporary impairments 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 subseque nt to the impairment measurement date. (c) At March 31, 2018 and December 31, 2017 , bonds available for sale held by us that were below investment grade or not rated totaled $ 30.4 bi llion and $ 31.5 billion, respectively. Securities Available for Sale in a Loss Position The following table summarizes the fair value and gross unrealized losses on our available for sale securities, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position (a) : 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 March 31, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 1,097 $ 25 $ 529 $ 27 $ 1,626 $ 52 Obligations of states, municipalities and political subdivisions 2,010 36 599 37 2,609 73 Non-U.S. governments 5,825 127 893 70 6,718 197 Corporate debt 38,072 1,263 6,701 524 44,773 1,787 RMBS 7,716 206 3,349 186 11,065 392 CMBS 6,105 133 1,347 89 7,452 222 CDO/ABS 3,127 34 831 40 3,958 74 Total bonds available for sale $ 63,952 $ 1,824 $ 14,249 $ 973 $ 78,201 $ 2,797 December 31, 2017 Bonds available for sale: U.S. government and government sponsored entities $ 770 $ 23 $ 332 $ 13 $ 1,102 $ 36 Obligations of states, municipalities and political subdivisions 586 6 646 24 1,232 30 Non-U.S. governments 3,511 54 857 63 4,368 117 Corporate debt 15,578 453 7,291 347 22,869 800 RMBS 6,212 99 3,790 121 10,002 220 CMBS 3,408 46 1,389 59 4,797 105 CDO/ABS 1,455 24 822 28 2,277 52 Total bonds available for sale 31,520 705 15,127 655 46,647 1,360 Equity securities available for sale: Common stock 136 21 - - 136 21 Mutual funds 1 - - - 1 - Total equity securities available for sale 137 21 - - 137 21 Total $ 31,657 $ 726 $ 15,127 $ 655 $ 46,784 $ 1,381 (a) As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, equity securities are no longer classified and accounted for as available for sale securities. At March 31, 2018 , we held 12,137 individual fixed maturity securities , that were in an unrealized loss position, of which 2,015 individual fixed maturity securities were in a continuous unrealized loss position for 12 mon ths or more. We did not recognize the unrealized losses in earnings on these fixed maturity securities at March 31, 2018 because we neither intend to sell the securities nor do we believe that it is more likely than not that we will be r equired to sell these securities before recovery of their amortized cost basis. For fixed maturity securities with significant declines, we performed fundamental credit analyses on a security-by-security basis, which included consideration of credit enhanc ements, expected defaults on underlying collateral, review of relevant industry analyst reports and forecasts and other available market data. Contractual Maturities of Fixed Maturity Securities Available for Sale The following table presents the amortized cost and fair value of fixed maturity securities available for sale by contractual maturity: Total Fixed Maturity Securities Fixed Maturity Securities in a Loss Available for Sale Position Available for Sale (in millions) Amortized Cost Fair Value Amortized Cost Fair Value March 31, 2018 Due in one year or less $ 8,393 $ 8,524 $ 1,881 $ 1,872 Due after one year through five years 46,987 48,261 11,548 11,232 Due after five years through ten years 42,637 42,973 22,337 21,507 Due after ten years 64,146 67,948 22,069 21,115 Mortgage-backed, asset-backed and collateralized 63,189 66,208 23,163 22,475 Total $ 225,352 $ 233,914 $ 80,998 $ 78,201 December 31, 2017 Due in one year or less $ 7,932 $ 8,071 $ 1,526 $ 1,515 Due after one year through five years 47,179 49,093 7,764 7,571 Due after five years through ten years 42,617 43,944 11,559 11,143 Due after ten years 63,550 70,027 9,705 9,342 Mortgage-backed, asset-backed and collateralized 64,183 67,857 17,453 17,076 Total $ 225,461 $ 238,992 $ 48,007 $ 46,647 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: 2018 2017 Gross Gross Gross Gross Three Months Ended March 31, Realized Realized Realized Realized (in millions) Gains Losses Gains Losses Fixed maturity securities $ 70 $ 60 $ 333 $ 178 Equity securities 16 - 17 16 Total $ 86 $ 60 $ 350 $ 194 For the three - month periods ended March 31, 2018 and 2017 , the aggregate fair value of available for sale securities sold was $ 5.5 billion and $ 15.8 billion, respectively, which resulted in net realized capital gains of $ 26 million and $ 156 million, respectively. Other Securities Measured at Fair Value The following table presents the fair value of other securities measured at fair value base d on our election of the fair value option: March 31, 2018 December 31, 2017 Fair Percent Fair Percent (in millions) Value of Total Value of Total Fixed maturity securities: U.S. government and government sponsored entities $ 2,777 20 % $ 2,802 21 % Non-U.S. governments 54 - 57 1 Corporate debt 1,803 13 1,909 14 Mortgage-backed, asset-backed and collateralized : RMBS 1,818 13 1,885 14 CMBS 566 4 559 4 CDO/ABS and other collateralized * 5,379 38 5,560 42 Total mortgage-backed, asset-backed and collateralized 7,763 55 8,004 60 Total fixed maturity securities 12,397 88 12,772 96 Equity securities 1,725 12 589 4 Total $ 14,122 100 % $ 13,361 100 % * Includes $ 220 million and $ 251 million of U.S. g overnment agency-backed ABS at March 31, 2018 and December 31, 2017 , respectively. Other Invested Assets The following table summarizes the carrying amoun ts of other invested assets : March 31, December 31, (in millions) 2018 2017 Alternative investments (a) (b) $ 11,125 $ 11,308 Investment real estate (c) 8,636 8,258 Aircraft asset investments (d) 201 206 All other investments 1,221 1,050 Total $ 21,183 $ 20,822 (a) At March 31, 2018 , include d hedge funds of $ 5.5 billion, private equity funds of $ 5.2 billion, and affordable housing partnerships of $ 483 million. At December 31, 2017 , include d hedge funds of $ 5.8 billion, private equity funds of $ 5.0 billion, and affordable housing partnerships of $ 543 million. (b) Approximately 69 perce nt of our hedge fund portfolio is available for redemption in 2018, an additional 31 percent will be available between 2019 and 2027 . (c) Net of accumulated depreciation of $ 556 million and $ 515 million in March 31, 2018 and December 31, 2017 , respectively. (d) Consists of investments in aircraft equipment held in a consolidated trust. Net Inv estment Income The following table presents the components of Net i nvestm ent i ncome: Three Months Ended March 31, (in millions) 2018 2017 Available for sale fixed maturity securities, including short-term investments $ 2,610 $ 2,667 Other fixed maturity securities (21) 134 Equity securities (a) (32) 5 Interest on mortgage and other loans 450 393 Alternative investments (b) 337 448 Real estate 31 49 Other investments 10 116 Total investment income 3,385 3,812 Investment expenses 124 126 Net investment income $ 3,261 $ 3,686 (a) Upon the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018 , the change in fair value of all equity securities is included in Net Investment Income . (b) 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 g enerally 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 March 31, (in millions) 2018 2017 Sales of fixed maturity securities $ 10 $ 155 Sales of equity securities 16 1 Other-than-temporary impairments: Severity - - Change in intent (49) (1) Foreign currency declines (6) (10) Issuer-specific credit events (32) (57) Adverse projected cash flows - - Provision for loan losses (24) 6 Foreign exchange transactions 53 159 Variable annuity embedded derivatives, net of related hedges 147 (389) All other derivatives and hedge accounting (225) 13 Impairments on investments in life settlements - (41) Other 91 49 Net realized capital losses $ (19) $ (115) Change in Unrealized Appreciation (Depreciation) of Investments The following table presents the increase (decrease) in unrealized appreciation (depreciation) of our available for sale securities and other investments: Three Months Ended March 31, (in millions) 2018 2017 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ (4,969) $ 773 Equity securities (a) - 114 Other investments (25) (54) Total increase (decrease) in unrealized appreciation (depreciation) of investments (b) $ (4,994) $ 833 (a) As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, equity securities are no longer classified and accounted for as available for sale securities. (b) Excludes net unrealized losses attributable to businesses held for sale. The following table summarizes the unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date* : Three Months Ended March 31, 2018 Other Invested (in millions) Equities Assets Total Net gains and losses recognized during the period on equity securities $ (31) $ 192 $ 161 Less: Net gains and losses recognized during the period on equity securities sold during the period (8) (1) (9) Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ (23) $ 193 $ 170 * The table includes a gain of $72 million in Other Invested Assets and a loss of $3 1 million in Equities recorded during the three-month period ended March 31, 2018, as a result of the new Financial Instruments Recognition and Measurement Standard . 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 201 7 Annual Report. Credit Impairments Th e following table presents a rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings for available for sale fixed maturity securities: Three Months Ended March 31, (in millions) 2018 2017 Balance, beginning of year $ 526 $ 1,098 Increases due to: Credit impairments on new securities subject to impairment losses 14 17 Additional credit impairments on previously impaired securities 17 30 Reductions due to: Credit impaired securities fully disposed for which there was no prior intent or requirement to sell (51) (11) Accretion on securities previously impaired due to credit * (148) (188) Balance, end of period $ 358 $ 946 * 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) $ 36,711 Cash flows expected to be collected * 30,121 Recorded investment in acquired securities 20,334 * Represents undiscounted expect ed cash flows, including both principal and interes t . (in millions) March 31, 2018 December 31, 2017 Outstanding principal balance $ 14,253 $ 14,718 Amortized cost 10,141 10,492 Fair value 11,977 12,293 The following table presents activ ity for the accretable yield on PCI securities: Three Months Ended March 31, (in millions) 2018 2017 Balance, beginning of period $ 7,501 $ 7,498 Newly purchased PCI securities 23 88 Disposals - (18) Accretion (187) (210) Effect of changes in interest rate indices 206 21 Net reclassification from (to) non-accretable difference, including effects of prepayments 58 214 Balance, end of period $ 7,601 $ 7,593 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) March 31, 2018 December 31, 2017 Fixed maturity securities available for sale $ 1,767 $ 2,911 Other bond securities, at fair value $ 1,381 $ 1,585 At March 31, 2018 and December 31, 2017 , amounts borrowed under repurchase and securities lending agreements totaled $ 3.2 billion and $ 4.5 billion, respectively. The foll owing 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 March 31, 2018 Bonds available for sale: Non-U.S. governments $ - $ 94 $ 18 $ - $ - $ 112 Corporate debt - 34 6 - - 40 Other bond securities: U.S. government and government sponsored entities 15 - - - - 15 Non-U.S. governments - - 3 - - 3 Corporate debt - 93 18 - - 111 Total $ 15 $ 221 $ 45 $ - $ - $ 281 December 31, 2017 Bonds available for sale: Non-U.S. governments $ - $ 7 $ 19 $ - $ - $ 26 Corporate debt - 13 35 - - 48 Other bond securities: U.S. government and government sponsored entities 44 - - - - 44 Non-U.S. governments - - 11 - - 11 Corporate debt - 387 1,065 - - 1,452 Total $ 44 $ 407 $ 1,130 $ - $ - $ 1,581 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 March 31, 2018 Bonds available for sale: Non-U.S. governments $ - $ - $ 32 $ 5 $ - $ 37 Corporate debt - 235 1,224 119 - 1,578 Other bond securities: Non-U.S. governments - - 7 - - 7 Corporate debt - 175 995 75 - 1,245 Total $ - $ 410 $ 2,258 $ 199 $ - $ 2,867 December 31, 2017 Bonds available for sale: Non-U.S. governments $ - $ - $ 18 $ - $ - $ 18 Corporate debt - 588 2,231 - - 2,819 Other bond securities: Non-U.S. governments - - 22 - - 22 Corporate debt - - 56 - - 56 Total $ - $ 588 $ 2,327 $ - $ - $ 2,915 We also ent er 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) March 31, 2018 December 31, 2017 Securities collateral pledged to us $ 5,020 $ 2,227 Amount sold or repledged by us $ 97 $ 46 At March 31, 2018 and December 31, 2017 , amounts loaned under reverse repurchase agreements totaled $ 5.0 billion and $ 2.2 billion, respectively. We do not currently offset any secured financing transactions. All such transactions are collateralized and margined daily consistent with market standards and subject to enforceable master netting arrangements with rights of set off. Insurance – Statutory and Other Deposits The total carrying value 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, was $ 5.2 billion and $ 4.9 billion at March 31, 2018 and December 31, 2017 , respectively. Other Pledges and Restrictions Certain of our subsidiaries are members of Fed eral Home Loan Banks (FHLBs) and such membership requires the members to own stock in these FHLBs. We owned an aggregate of $ 192 million and $ 93 million of stock in FHLBs at March 31, 2018 a nd December 31, 2017 , respectively. In addition, our subsidiaries have pledged securities available for sale and residential loans associated with borrowings and funding agreements from FHLBs, with a fair value of $ 4.5 billion and $ 1.6 billion, respectively, at March 31, 2018 and $ 2.7 billion and $ 471 million, respectively, at December 31, 2017 . 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 counterparties in the event o f 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 prevailing at and after the time of the downgrade. The fair value of securities pledged as collateral with respect to these obligations was approximately $ 1.8 billion and $ 2.0 billion at March 31, 2018 and December 31, 2017 , respecti vely. 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 restriction as to their use were $ 242 million and $ 255 million, comprised of bonds available for sale and short term investments at March 31, 2018 and December 31, 2017 , respectively.

LENDING ACTIVITIES

LENDING ACTIVITIES	3 Months Ended
	Mar. 31, 2018
LENDING ACTIVITIES
LENDING ACTIVITIES	6 . Lending Activities The following table presents the composition of Mortgage and other loans receivable, net: March 31, December 31, (in millions) 2018 2017 Commercial mortgages * $ 29,699 $ 28,596 Residential mortgages 5,811 5,398 Life insurance policy loans 2,203 2,295 Commercial loans, other loans and notes receivable 1,174 1,056 Total mortgage and other loans receivable 38,887 37,345 Allowance for credit losses (347) (322) Mortgage and other loans receivable, net $ 38,540 $ 37,023 * Commercial mortgages primarily represent loans for apartments, offices and retail properties, with exposures in New York and California representing the largest geographic concentrations ( aggregating approximately 22 percent and 11 percent , respectively, at March 31, 2018 , and 23 percent and 12 percent , respectively, at December 31, 2017 ) . 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 March 31, 2018 Loan-to-Value Ratios (b) Less than 65% $ 17,506 $ 2,121 $ 349 $ 19,976 65% to 75% 7,240 192 179 7,611 76% to 80% 943 - - 943 Greater than 80% 885 211 73 1,169 Total commercial mortgages $ 26,574 $ 2,524 $ 601 $ 29,699 December 31, 2017 Loan-to-Value Ratios (b) Less than 65% $ 18,000 $ 1,525 $ 351 $ 19,876 65% to 75% 6,038 193 184 6,415 76% to 80% 569 40 - 609 Greater than 80% 1,416 206 74 1,696 Total commercial mortgages $ 26,023 $ 1,964 $ 609 $ 28,596 (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 2.1 X at March 31, 2018 and December 31, 2017 , 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 61 percent and 57 percent at March 31, 2018 , and December 31, 2017 , respectively . 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 $ March 31, 2018 Credit Quality Performance Indicator: In good standing 775 $ 8,790 $ 8,633 $ 5,190 $ 2,573 $ 2,365 $ 1,994 $ 29,545 99 % Restructured (a) 5 - 115 23 - 16 - 154 1 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 780 $ 8,790 $ 8,748 $ 5,213 $ 2,573 $ 2,381 $ 1,994 $ 29,699 100 % Allowance for credit losses: Specific $ - $ 3 $ 20 $ - $ 1 $ - $ 24 - % General 79 95 34 9 16 17 250 1 Total allowance for credit losses $ 79 $ 98 $ 54 $ 9 $ 17 $ 17 $ 274 1 % December 31, 2017 Credit Quality Performance Indicator: In good standing 778 $ 8,163 $ 8,585 $ 5,338 $ 2,023 $ 2,373 $ 1,960 $ 28,442 99 % Restructured (a) 5 - 115 23 - 16 - 154 1 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 783 $ 8,163 $ 8,700 $ 5,361 $ 2,023 $ 2,389 $ 1,960 $ 28,596 100 % Allowance for credit losses: Specific $ - $ 3 $ 1 $ - $ 1 $ - $ 5 - % General 72 94 37 6 15 18 242 1 Total allowance for credit losses $ 72 $ 97 $ 38 $ 6 $ 16 $ 18 $ 247 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 201 7 Annual Report. (b) Does not reflect a llowance for credit l osses . (c) Our commercial mortgage loan portfolio is current as to payments of principal and interes t, for both periods presented. There were no significant amounts of nonperforming commercial mortgages (defined as those loans where payment of contractual principal or interest is more 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 201 7 Annual Report The following table presents a rollforward of the changes in the allowance for losses on Mortgage and other loans receivable: 2018 2017 Three Months Ended March 31, Commercial Other Commercial Other (in millions) Mortgages Loans Total Mortgages Loans Total Allowance, beginning of year $ 247 $ 75 $ 322 $ 194 $ 103 $ 297 Loans charged off - - - - - - Recoveries of loans previously charged off - - - - - - Net charge-offs - - - - - - Provision for loan losses 27 (2) 25 13 (21) (8) Other - - - - - - Allowance, end of period $ 274 * $ 73 $ 347 $ 207 * $ 82 $ 289 * Of the total allowance , $ 23 million and $ 7 million relate to individually assessed credit losses on $ 82 million and $ 266 million of commercial mortgages at March 31, 2018 and 2017 , respectively. There were no loans modified in troubled debt restructurings during the three-month periods ended March 31, 2018 and March 31, 2017.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	3 Months Ended
	Mar. 31, 2018
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES	7 . Variable Interest Entities We enter into various arrangements with variable interest entities ( VIEs ) in the normal course of business and consolidate the VIEs when we determine we are the primary beneficiary. This analysis includes a review of the VIE’s capital structure, related contractual relationships and terms, nature of the VIE’s operations and purpose, nature of the VIE’s interests issued and our involvement with the entity. When assessing the need to consolidate a VIE, we evaluate the design of the VIE as well as the relate d 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 o bligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. While also considering these factors, the consolidation conclusion depends on the breadth of our decision-making ability and our ability to influ ence activities that significantly affect the economic performance of the VIE. Balance Sheet Classification and Exposure to Loss The following table presents the total assets and total liabilities associated with our variable interests in consolidated VIEs , as classified in the Condensed Consolidated Balance Sheets: (in millions) Real Estate and Investment Entities (d) Securitization Vehicles (e) Affordable Housing Partnerships Other Total March 31, 2018 Assets: Bonds available for sale $ - $ 8,484 $ - $ - $ 8,484 Other bond securities - 4,349 - 3 4,352 Mortgage and other loans receivable - 2,759 - - 2,759 Other invested assets 1,413 201 3,314 25 4,953 Other (a) 308 1,492 309 84 2,193 Total assets (b) $ 1,721 $ 17,285 $ 3,623 $ 112 $ 22,741 Liabilities: Long-term debt $ 741 $ 1,965 $ 1,969 $ 5 $ 4,680 Other (c) 135 164 187 25 511 Total liabilities $ 876 $ 2,129 $ 2,156 $ 30 $ 5,191 December 31, 2017 Assets: Bonds available for sale $ - $ 9,632 $ - $ - $ 9,632 Other bond securities - 4,518 - 3 4,521 Mortgage and other loans receivable - 2,290 - - 2,290 Other invested assets 1,365 206 3,087 25 4,683 Other (a) 302 1,481 350 85 2,218 Total assets (b) $ 1,667 $ 18,127 $ 3,437 $ 113 $ 23,344 Liabilities: Long-term debt $ 680 $ 1,624 $ 1,825 $ 5 $ 4,134 Other (c) 144 244 181 26 595 Total liabilities $ 824 $ 1,868 $ 2,006 $ 31 $ 4,729 (a) Comprised primarily of Short-term investments and Other assets at March 31, 2018 and December 31, 2017 . (b) The assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other liabilities at March 31, 2018 and December 31, 2017 . (d) At March 31, 2018 and December 31, 2017 , off-balance sheet exposure primarily consisting of commitments to real estate and investme nt entities was $ 133 million and $ 86 m illion, respectively. (e) At March 31, 2018 and December 31, 2017 , $ 16.7 billion and $ 17.6 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 t he 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 and guarantees to the VIE. Interest holders in VIEs sponsored by us generally have recourse only to the assets and cash flows of the VIEs and do not have recourse to us, except in limited circumstances when we have provided a guarantee to the VIE’s interest holders. The following table presents tota l 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 March 31, 2018 Real estate and investment entities (a) $ 371,105 $ 9,054 $ 1,988 $ 11,042 Affordable housing partnerships 4,146 669 - 669 Other 2,908 219 1,203 (c) 1,422 Total $ 378,159 $ 9,942 $ 3,191 $ 13,133 December 31, 2017 Real estate and investment entities (a) $ 380,030 $ 9,253 $ 2,043 $ 11,296 Affordable housing partnerships 4,468 725 - 725 Other 2,703 254 1,205 (c) 1,459 Total $ 387,201 $ 10,232 $ 3,248 $ 13,480 (a) Comprised primarily of hedge funds and private equity funds. (b) At March 31, 2018 and December 31, 2017 , $ 9.6 billion and $ 9.8 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 201 7 Annual Rep ort.

DERIVATIVES AND HEDGE ACCOUNTIN

DERIVATIVES AND HEDGE ACCOUNTING	3 Months Ended
	Mar. 31, 2018
DERIVATIVES AND HEDGE ACCOUNTING
DERIVATIVES AND HEDGE ACCOUNTING	8 . Derivatives and Hedge Accounting We use derivatives and other financial instruments as part of our financial risk management programs and as part of our investment operations. For a discussion of our accounting policies and procedures regarding derivatives and hedge accounting see Note 11 to the Consolidated Financial Statements in the 2017 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. We use credit derivatives to manage our credit exposures. 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: March 31, 2018 December 31, 2017 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 $ 10 $ - $ 866 $ 21 $ - $ - $ 838 $ 15 Foreign exchange contracts 3,236 122 4,511 350 2,823 173 4,783 350 Equity contracts - - - - - - 159 19 Derivatives not designated as hedging instruments: (a) Interest rate contracts 42,688 2,549 26,505 2,182 37,751 2,171 26,461 2,185 Foreign exchange contracts 8,471 673 11,543 867 6,305 658 11,093 895 Equity contracts 15,465 268 4,261 13 19,975 522 1,130 2 Credit contracts (b) 9 2 1,412 264 4 1 1,365 277 Other contracts (c) 38,518 17 59 5 39,829 20 59 5 Total derivatives, gross $ 108,397 $ 3,631 $ 49,157 $ 3,702 $ 106,687 $ 3,545 $ 45,888 $ 3,748 Counterparty netting (d) (1,589) (1,589) (1,464) (1,464) Cash collateral (e) (1,268) (980) (1,159) (1,249) Total derivatives on condensed consolidated balance sheets (f) $ 774 $ 1,133 $ 922 $ 1,035 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b ) As of March 31, 2018 and December 31, 2017 , included CDSs on super senior multi-sector CDOs with a net notional amount of $ 661 million and $ 685 million (fair value liability of $ 245 million and $ 254 million), respectively. The expected weighted average maturity as of March 31, 2018 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 March 31, 2018 and December 31, 2017 , 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 March 31, 2018 and December 31, 2 017 . Fair value of liabilities related to bifurcated Embedded derivatives was $ 3.7 billion and $ 4.1 billion, respectively, at March 31, 2018 and December 31, 2017 . A bifurcated Embedded d erivative 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. Collater al posted by us to third parties for derivative transactions was $ 2.7 billion and $ 2.9 billion at March 31, 2018 and December 31, 2017 , respectively. In the case of collateral pos ted 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 $ 1.4 billion a nd $ 1.3 billion at March 31, 2018 and December 31, 2017 , respectively. In the case of collateral provided to us under derivative transactions that are not subject to clearing, we generally can repledge or resell 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 - month periods ended March 31, 2018 and 2017 , we recognized lo sses of $ 120 million and $ 42 million, respectively , included in Change in foreign currency translation adjustment in Other comprehensive income relate d to the net investment hedge relationships. A qualitative methodology is utilized to assess hedg e effectiveness for net investment hedges, while regression analysis is employed for all other hedges. The following table presents the gain (loss) recognized in earnings on our derivative instruments in fair value hedging relationships in the Condensed Co nsolidated 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 March 31, 2018 Interest rate contracts : Realized capital gains/(losses) $ (8) $ 9 $ 1 $ - $ - Foreign exchange contracts : Realized capital gains/(losses) (41) 8 - (33) - Other income - - - - - Equity contracts : Realized capital gains/(losses) - - - - - Three Months Ended March 31, 2017 Interest rate contracts : Realized capital gains/(losses) $ (1) $ 1 $ - $ - $ - Foreign exchange contracts : Realized capital gains/(losses) 52 (42) - 10 - Other income - 1 - - 1 Equity contracts Realized capital gains/(losses) (2) - - (2) - (a) The amounts presented do not include the periodic net coupon settlements of the derivative contract or the coupon income (expense) related to the hedged item. (b) Represents accretion/amortization of opening fair value of the hedged item at inception of hedge relationship, amortization of basis adjustment on hedged item following the discontinuation of hedge accounting, and the release of debt basis adjustment following the repurchase of issued debt that was part of 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) Three Months Ended March 31, Recognized in Earnings (in millions) 2018 2017 By Derivative Type: Interest rate contracts $ (398) $ (152) Foreign exchange contracts (139) (46) Equity contracts (73) (314) Credit contracts 11 15 Other contracts 17 18 Embedded derivatives 591 146 Total $ 9 $ (333) By Classification: Policy fees $ 17 $ 20 Net investment income (4) (2) Net realized capital losses (13) (384) Other income 12 33 Policyholder benefits and claims incurred (3) - Total $ 9 $ (333) Credit Risk-Related Contingent Features We estimate that at March 31, 2018 , 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 permit certain counterparties to elect early termination of contracts, resulting in corresponding collateral postings and termination payments in the total amount of up to approximately $ 81 million. The aggregat e fair value of our derivatives that were in a net liability position and that contain such credit risk-related contingencies which can be triggered below our long-term senior debt ratings of BBB+ or Baa1 was approximately $ 521 m illion a nd $ 572 m illion at March 31, 2018 and December 31, 2017 , respectively. The aggregate fair value of assets posted as collateral under these contracts at March 31, 2018 and December 31, 2017 , was approximately $ 557 m illion and $ 676 m illion, respectively. 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 $ 4.2 billion and $ 4.4 billion at March 31, 2018 and December 31, 2017 , respectively . These securities have par amounts of $ 8.9 billion and $ 9.1 billion at March 31, 2018 and December 31, 2017 , respectively, and have remaining stated maturit y dates that extend to 2052.

INSURANCE LIABILITIES

INSURANCE LIABILITIES	3 Months Ended
	Mar. 31, 2018
Insurance Liabilites
LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS	9 . 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 $12.3 billion and $ 12.6 billion at March 31, 2018 and December 31, 2017 , respectively . These recoverable amounts are related t o 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 for 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 amounts represent a credit exposure to us. At both March 31, 2018 and December 31, 2017 , we held collateral of approximatel y $9.5 billion for these deductible recoverable amounts, consisting primarily of letters of credit and funded trust agreements. The following table presents the roll-forwar d of activity in Loss Reserves: Three Months Ended March 31, (in millions) 2018 2017 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 78,393 $ 77,077 Reinsurance recoverable (26,708) (15,532) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 51,685 61,545 Losses and loss adjustment expenses incurred : Current year 4,698 4,300 Prior years, excluding discount and amortization of deferred gain (40) 63 Prior years, discount charge (benefit) (205) (25) Prior years, amortization of deferred gain on retroactive reinsurance (39) (38) Total losses and loss adjustment expenses incurred 4,414 4,300 Losses and loss adjustment expenses paid : Current year (610) (571) Prior years (4,779) (4,753) Total losses and loss adjustment expenses paid (5,389) (5,324) Other changes : Foreign exchange effect 274 (105) Retroactive reinsurance adjustment (net of discount) (a) (97) (11,199) Reclassified to liabilities held for sale (b) - (87) Total other changes 177 (11,391) Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 50,887 49,130 Reinsurance recoverable 27,211 26,920 Total $ 78,098 $ 76,050 ( a ) Includes discount on retroactive reinsurance in the amount of $128 million and $1.7 billion for the three -month periods ended March 3 1 , 2018 and 2017, respectively . (b) Represents change in loss reserves included in our sale of certain of our insurance operations to Fairfax Financial Holdings Limited ( Fairfax ) for the three -month period ended March 3 1 , 2017. Up on consummation of the sale, we retain ed 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 Hathaway Inc. (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 ob ligations of NICO under the agreement. The tota l paid claims subject to the agreement as of March 31, 201 8 were below the attachment point . Discounting of Loss Reserves At March 31, 2018 , the loss reserves reflect a net loss reserve discount of $1.9 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 fully 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 separately for companies d omiciled 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 companies’ own payout patterns. For the Pennsylvania companies, the statute specifies discount factors for accident years 2001 and prior, which are based on a 6 percent interest rate and an industry payout pattern. For accident years 2002 and subsequent, the discount is based on the payout patterns and inve stment 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 workers’ compensation reserves in our Pennsylvania-domiciled companies, as well as o ur use of updated payout patterns specific to our primary and excess workers compensation portfolios. The discount consists of $ 622 million of tabular discount and $ 1.3 b illion of non-tabular discount for workers’ compensation. During the three-month per iods ended March 31, 2018 and 2017, the bene fit/(charge) from changes in discount of $205 million and $25 million, respectively, were recorded as part of the policyholder benefits and losses incurred in the Consolidated Statement of Income. The followi ng table presents the components o f the loss reserve discount discussed above: March 31, 2018 December 31, 2017 North Legacy Portfolio North Legacy Portfolio America - General America - General Commercial Insurance run-off Commercial Insurance run-off (in millions) Insurance Insurance Lines Total Insurance Insurance Lines Total U.S. workers' compensation $ 2,652 $ 936 $ 3,588 $ 2,465 $ 918 $ 3,383 Retroactive reinsurance (1,667) - (1,667) (1,539) - (1,539) Total reserve discount * $ 985 $ 936 $ 1,921 $ 926 $ 918 $ 1,844 * Excludes $ 177 million and $173 million of discount related to certain long tail liabilities in the United Kingdom at March 31, 2018 and December 31, 2017 , respectively. The following table s present s the net los s reserve discount benefit (charge) : Three Months Ended March 31, 2018 2017 North Legacy Portfolio North Legacy Portfolio America - General America - General Commercial Insurance run-off Commercial Insurance run-off (in millions) Insurance Insurance Lines Total Insurance Insurance Lines Total Current accident year $ 19 $ - $ 19 $ 32 $ - $ 32 Accretion and other adjustments to prior year discount 45 (18) 27 (48) (16) (64) Effect of interest rate changes 123 36 159 39 18 57 Net reserve discount benefit (charge) 187 18 205 23 2 25 Change in discount on loss reserves ceded under retroactive reinsurance (128) - (128) (1,655) - (1,655) Net change in total reserve discount (a) $ 59 $ 18 $ 77 $ (1,632) $ 2 $ (1,630) (a) Excludes $(5) million and $(1) million of discount related to certain long tail liabilities in the United Kingdom for the three-month periods ended March 31, 2018 and 2017, respectively. During the first quarter s of 2018 and 2017, effective interest rates increased due to an increase in the forward yield curve component of the discount rates reflecting an incline in U.S. Treasury rates along with the changes in payout pattern assumptions. This resulted in an incre ase in the loss reserve discount by $159 million in first quarter 2018 and $57 million in first quarter 2017.

CONTINGENCIES, COMMITMENTS AND

CONTINGENCIES, COMMITMENTS AND GUARANTEES	3 Months Ended
	Mar. 31, 2018
CONTINGENCIES, COMMITMENTS AND GUARANTEES
CONTINGENCIES, COMMITMENTS AND GUARANTEES	10 . 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 regulatory and government investigations and actions, and litigation and other forms of dispute resolution in a large number of proceedings pending in various domestic and foreign jurisdictions. Certain of these matters involve potentially significant risk of loss due to potential for significant jury awards and settlements, punitive damages or other penalties. Many of these matters are also highly complex and seek recovery on behalf of a class or simila rly large number of plaintiffs. It is therefore inherently difficult to predict the size or scope of potential future losses arising from these matters. In our insurance and reinsurance operations, litigation and arbitration concerning the scope of cover age under insurance and reinsurance contracts, and litigation and arbitration in which our subsidiaries defend or indemnify their insureds under insurance contracts, are generally considered in the establishment of our loss reserves. Separate and apart fr om the foregoing matters involving insurance and reinsurance coverage, AIG, our subsidiaries and their respective officers and directors are subject to a variety of additional types of legal proceedings brought by holders of AIG securities, customers, empl oyees and others, alleging, among other things, breach of contractual or fiduciary duties, bad faith and violations of federal and state statutes and regulations. With respect to these other categories of matters not arising out of claims for insurance or reinsurance coverage, we establish reserves for loss contingencies when it is probable that a loss will be incurred and the amount of the loss can be reasonably estimated. In many instances, we are unable to determine whether a loss is probable or to rea sonably estimate the amount of such a loss and, therefore, the potential future losses arising from legal proceedings may exceed the amount of liabilities that we have recorded in our financial statements covering these matters. While such potential futur e charges could be material, based on information currently known to management, management does not believe, other than may be discussed below, that any such charges are likely to have a material adverse effect on our financial position or results of oper ation . Additionally, from time to time, various regulatory and governmental agencies review the transactions and practices of AIG and our subsidiaries in connection with industry-wide and other inquiries into, among other matters, the business practices of current and former operating insurance subsidiaries. We have cooperated, and will continue to cooperate, in producing documents and other information in response to such requests . Starr International Litigation On November 21, 2011, Starr International C ompany, 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 Uni ted 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, unprecedented, and inconsistent with liquidity assistance offered by the government to other comparable firms at the time and violated the Equal Protection, Due Process, and Takings Clauses of the U.S. Constitution. In the SICO Treasury Action, the only claims naming AIG as a party (as a nominal defendant) are derivative claims on behalf of AIG. On September 21, 2012, SICO made a pre -litigation demand on our Board demanding that we pursue the derivative claims or allow SICO to pursue the claims on our behalf. On January 9, 2 013, 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 reasons for our Board’s determination. On March 11, 2013, SICO filed a second amended complaint in the SICO Treasury Action alleging that its demand was wrongfully refused. On June 26, 2013, the Court of Federal Claims granted AIG’s and the United States’ motions to dism iss 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 A ction granted SICO’s motion for class certification of two classes with respect to SICO’s non -derivative claims: (1) persons and entities who held shares of AIG Common Stock on or before September 16, 2008 and who owned those shares on Sep tember 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 Reverse Stock Spl it Shareholder Class). SICO has provided notice of class certification to potential members of the classes, who, pursuant to a court order issued on April 25, 2013, had to return opt -in consent forms by September 16, 2013 to participate in either class. 286,908 holders of AIG Common Stock during the two class periods have opted into the classes. On June 15, 2015, the Court of Federal Claims issued its opinion and order in the SICO Treasury Action. The Court found that the United States exceed ed 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 entitl ed 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, and that the Reverse Stock Split Shareholder Class shall not prevail on liability or damages.” SICO filed a notice of appeal of the July 2, 2012 dismissal of SICO’s unconstitutional conditions claim, the June 26, 2013 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 part its motio n 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 Federal 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 liabil ity with respect to the Reverse Stock Split Cla ss . On October 6, 2017, SICO filed a petition for writ of certiorari with the United States Supreme Court. On March 26, 2018, the Supreme Court denied SICO’s petition and the SICO Treasury Action has now concluded . Tax Litigation We are party to pending tax litigation before the Southern District of New York. For additional information see Note 14 to the Condensed Consolidated Financial Statements . 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 $ 2.9 billion at March 31, 2018 . 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 AIG Financial Products Corp. and related subsidiaries (collectively 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 March 31, 2018 was $ 85 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 7 to the Condensed Co nsolidated Financial Statements. For additional disclosures about der ivatives see Note 8 to the Condensed Consolidated Financial Statements. For additional disclosures about guarantees of outstanding debt see Note 15 to the Condensed Consolidated Financial Statements

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2018
EQUITY
EQUITY	11 . Equity Shares Outstanding The following table presents a rollforward of outstand ing shares : Three Months Ended March 31, 2018 Common Treasury Common Stock Stock Issued Stock Outstanding Shares, beginning of year 1,906,671,492 (1,007,626,835) 899,044,657 Shares issued - 4,021,554 4,021,554 Shares repurchased - (5,384,703) (5,384,703) Shares, end of period 1,906,671,492 (1,008,989,984) 897,681,508 Dividends 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 on or purchase shares of AIG Common Stock, our Board of Directors considers a number of factors, including, but not limited to: the capital resources available to support our insurance operations and business strategies, AIG’s funding capacity and capital re sources in comparison to internal benchmarks, expectations for capital generation, rating agency expectations for capital, regulatory standards for capital and capital distributions, and such other factors as our Board of Directors may deem relevant. The f ollowing table presents record date, payment date and dividends paid per share on AIG Common Stock: Dividends Paid Record Date Payment Date Per Share March 15, 2018 March 29, 2018 0.32 March 15, 2017 March 29, 2017 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 201 7 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: Three Months Ended March 31, (in millions) 2018 2017 Aggregate repurchases of common stock $ 298 $ 3,585 Total number of common shares repurchased 5 56 Aggregate repurchases of warrants $ 2 $ - Total number of warrants repurchased * - - * For the three-month period ended March 31, 2018, we repurchased 97,553 warrants to purchase shares of AIG Common Stock. Our Board of Directors has authorized the repurchase of shares of AIG Common Stock and warrants to purchase 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 March 31, 2018 , approximately $ 2.0 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 autom atic 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 Fair Value of (Depreciation) of Fixed Unrealized Liabilities Under Maturity Securities on Appreciation Foreign Retirement Fair Value Option Which Other-Than- (Depreciation) Currency Plan Attributable to Temporary Credit of All Other Translation Liabilities Changes in (in millions) Impairments Were Taken Investments Adjustments Adjustment Own Credit Risk Total Balance, December 31, 2017, net of tax $ 793 $ 7,693 $ (2,090) $ (931) $ - $ 5,465 Cumulative effect of change in accounting principles 169 (285) (284) (183) 7 (576) Change in unrealized depreciation of investments (240) (4,754) - - - (4,994) Change in deferred policy acquisition costs adjustment and other 30 634 - - - 664 Change in future policy benefits - 741 - - - 741 Change in foreign currency translation adjustments - - 172 - - 172 Change in net actuarial loss - - - 16 - 16 Change in prior service credit - - - (4) - (4) Change in deferred tax asset (liability) 60 671 (14) 17 - 734 Change in fair value of liabilities under fair value option attributable to changes in own credit risk - - - - 2 2 Total other comprehensive income (loss) (150) (2,708) 158 29 2 (2,669) Noncontrolling interests - - - - - - Balance, March 31, 2018, net of tax $ 812 $ 4,700 $ (2,216) $ (1,085) $ 9 $ 2,220 Balance, December 31, 2016, net of tax $ 426 $ 6,405 $ (2,629) $ (972) $ - $ 3,230 Change in unrealized appreciation of investments 143 690 - - - 833 Change in deferred policy acquisition costs adjustment and other * 32 38 - - - 70 Change in future policy benefits - (86) - - - (86) Change in foreign currency translation adjustments - - (304) - - (304) Change in net actuarial loss - - - 25 - 25 Change in prior service cost - - - 3 - 3 Change in deferred tax asset (liability) (61) 53 28 (10) - 10 Total other comprehensive income (loss) 114 695 (276) 18 - 551 Noncontrolling interests - - - - - - Balance, March 31, 2017, net of tax $ 540 $ 7,100 $ (2,905) $ (954) $ - $ 3,781 * In cludes net unrealized gains attributable to businesses held for sale. The following table presents the other comprehensive income reclassification adjustments for the three -month periods ended March 31, 2018 and 2017 , respectively : Unrealized Appreciation (Depreciation) of Fixed Fair Value of Maturity Investments Unrealized Liabilities Under on Which Other-Than- Appreciation Foreign Retirement Fair Value Option Temporary Credit (Depreciation) Currency Plan Attributable to Impairments Were of All Other Translation Liabilities Changes in (in millions) Recognized Investments Adjustments Adjustment Own Credit Risk Total March 31, 2018 Unrealized change arising during period $ (208) $ (3,386) $ 172 $ 3 $ 2 $ (3,417) Less: Reclassification adjustments included in net income 2 (7) - (9) - (14) Total other comprehensive income (loss), before income tax expense (benefit) (210) (3,379) 172 12 2 (3,403) Less: Income tax expense (benefit) (60) (671) 14 (17) - (734) Total other comprehensive income (loss), net of income tax expense (benefit) $ (150) $ (2,708) $ 158 $ 29 $ 2 $ (2,669) March 31, 2017 Unrealized change arising during period $ 190 $ 835 $ (304) $ 18 $ - $ 739 Less: Reclassification adjustments included in net income 15 193 - (10) - 198 Total other comprehensive income (loss), before income tax expense (benefit) 175 642 (304) 28 - 541 Less: Income tax expense (benefit) 61 (53) (28) 10 - (10) Total other comprehensive income (loss), net of income tax expense (benefit) $ 114 $ 695 $ (276) $ 18 $ - $ 551 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 Three Months Ended March 31, Affected Line Item in the (in millions) 2018 2017 Condensed Consolidated Statements of Income Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 2 $ 15 Other realized capital gains Total 2 15 Unrealized appreciation (depreciation) of all other investments Investments 24 140 Other realized capital gains Deferred acquisition costs adjustment (31) 53 Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total (7) 193 Change in retirement plan liabilities adjustment Prior-service credit - - * Actuarial losses (9) (10) * Total (9) (10) Total reclassifications for the period $ (14) $ 198 * These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 13 to the Condensed Consolidated Financial Statements .

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)	3 Months Ended
	Mar. 31, 2018
EARNINGS PER SHARE (EPS)
EARNINGS PER SHARE (EPS)	12 . 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 po tential 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 March 31, (dollars in millions, except per share data) 2018 2017 Numerator for EPS: Income from continuing operations $ 950 $ 1,211 Less: Net income from continuing operations attributable to noncontrolling interests 11 26 Income attributable to AIG common shareholders from continuing operations 939 1,185 Income (loss) from discontinued operations, net of income tax expense (1) - Net income attributable to AIG common shareholders $ 938 $ 1,185 Denominator for EPS: Weighted average shares outstanding — basic 907,951,597 980,777,243 Dilutive shares 17,314,980 24,537,787 Weighted average shares outstanding — diluted (a) 925,266,577 1,005,315,030 Income per common share attributable to AIG: Basic: Income from continuing operations $ 1.03 $ 1.21 Income from discontinued operations $ - $ - Net income attributable to AIG $ 1.03 $ 1.21 Diluted: Income from continuing operations $ 1.01 $ 1.18 Income (loss) from discontinued operations $ - $ - Net income attributable to AIG $ 1.01 $ 1.18 (a) Dilutive shares include d our share - based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011. The number of shares excluded from diluted shares outstanding was 0.7 milli on and 1.8 mi llion for the three - month periods ended March 31, 2018 and 2017 , respectively , because the effect of including those shares in the calculation would h ave been anti-dilutive.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	3 Months Ended
	Mar. 31, 2018
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS	13 . 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 March 31, 2018 Components of net periodic benefit cost: Service cost $ 2 $ 6 $ 8 $ - $ - $ - Interest cost 41 4 45 2 - 2 Expected return on assets (71) (7) (78) - - - Amortization of prior service cost - 1 1 - - - Amortization of net loss 7 2 9 - - - Net periodic benefit cost (credit) $ (21) $ 6 $ (15) $ 2 $ - $ 2 Three Months Ended March 31, 2017 Components of net periodic benefit cost: Service cost $ 6 $ 8 $ 14 $ - $ 1 $ 1 Interest cost 43 4 47 2 1 3 Expected return on assets (64) (6) (70) - - - Amortization of prior service cost - - - - - - Amortization of net loss 7 3 10 - - - Net periodic benefit cost (credit) $ (8) $ 9 $ 1 $ 2 $ 2 $ 4 For the three -month period ended March 31, 2018 , we did not make any contributions to the U.S. AIG Retirement Plan.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2018
INCOME TAXES
INCOME TAXES	14 . Income Taxes U.S. Tax Reform Overview On December 22, 2017, the U.S. enacted Public Law 115-97, known informally as the Tax Cuts and Jobs Act (the Tax Act). The Tax Act reduced the statutory rate of U.S. federal corporate income tax to 21 percent and enacted numerous other changes impacting AIG and the insurance industry. During December 2017 , the SEC staff issued Staff Accounting Bulletin 118 (SAB 118), which provided guidance on accounting for the tax effects of the Ta x Act. SAB 118 addressed situations where accounting for certain income tax effects of the Tax Act under ASC 740 may be incomplete upon issuance of an entity’s financial statements and provides a one-year measurement period from the enactment date to compl ete the accounting under ASC 740. In accordance with SAB 118, a company was required to reflect the following: Income tax effects of those aspects of the Tax Act for which accounting under ASC 740 is complete Provisional estimate of income tax effects of t he Tax Act to the extent accounting is incomplete but a reasonable estimate is determinable If a provisional estimate cannot be determined, ASC 740 should still be applied on the basis of tax law provisions that were in effect immediately before the ena ctment of the Tax Act. At December 31, 2017 , we originally recorded a provisional estimate of income tax effects of the Tax Act of $6.7 billion, including a tax charge of $6.7 billion attributable to the reduction in the U.S. corporate income t ax rate and tax benefit of $38 million related to the deemed repatriation tax. During the period ended March 31, 2018, we have not recorded any material adjustments to these provisional amounts. We continue to refine our analysis and calculations, which co uld impact the provisional estimates previously recorded. Accordingly, a s of March 31, 2018 , we have not fully completed our accounting for the tax effects of the Tax Act. The Tax Act includes provisions for Global Intangible Low-Taxed Income (GILTI) under which taxes on foreign income are imposed on the excess of a deemed return on tangible assets of certain foreign subsidiaries and for Base Erosion and Anti-Abuse Tax (BEAT) under which taxes are imposed on certain base eroding payment s to affiliated foreign companies. Consistent with accounting guidance, we treat BEAT as a period tax charge in the period the tax is incurred and have made an accounting policy election to treat GILTI taxes in a similar manner. Tax effects for which a reasonable estimate can be determined Deemed Repatriation Tax The Tax Act requires companies to pay a one-time transition tax, net of tax credits related to applicable foreign taxes paid, on previously untaxed current and accumulated earnings and profits (E&P) of certain of our foreign subsidiaries. In the determination of the deemed repatriation tax, we reviewed estimated post-1986 E&P of certain material relevant foreign subsidiaries, and any related non-U.S. income tax paid on such earnings. We origin ally recorded a provisional estimated tax benefit of $ 38 million at December 31, 2017 . While the IRS has issued some guidance on the calculation of the deemed repatriation tax, there are still certain aspects of the calculation that require further clarification. We are continuing to gather additional information to more precisely compute the amount of deemed repatriation tax. As we continue to refine our analysis, we will refine our calculation s of the one-time transition tax, which could impact the provisional estimate previously recorded. Other Provisions The Tax Act modified computations of insurance reserves for both life and general insurance companies. For life insurance companies, tax r eserves are now computed with reference to NAIC reserves. For general insurance companies, the Tax Act extends the discount period for certain long-tail lines of business from 10 years to 24 years and increases the discount rate, replacing the applicable federal rate for a higher-yield corporate bond rate, and eliminates the election allowing companies to use their historical loss payment patterns for loss reserve discounting. Adjustments related to the differences in insurance reserves balances computed under the old tax law versus the Tax Act have to be taken into income over eight years by both life and general insurance companies. At December 31, 2017 , we recorded provisional estimates with respect to such items. A s of March 31, 2018 , these estimates remain provisional. Provisions Impacting Projections of Taxable Income and Valuation Allowance Considerations Certain provisions of the Tax Act impact our projections of future taxable income used in analyzing realizability of our U.S. tax attribute deferred tax asset. As discussed above, there are specific insurance industry provisions, including changes in computations of insurance reserves, amortization of specified policy acquisition expenses, and treatment of separate a ccount dividends received deduction. Provisional estimates have been included in our future taxable income projections for these insurance industry specific provisions to reflect application of the new tax law. Because we have made provisional estimates r elated to the impact of certain aspects of the Tax Act on our future taxable income, corresponding determination of the need for a valuation allowance is also provisional. Generally, the Tax Act provisions result in an increase in our taxable income and, thus, accelerate utilization of our tax attribute deferred tax asset. Accordingly, we do not currently anticipate that our reliance on provisional estimates would have a material impact on our determination of the realizability of our deferred tax assets. In all cases, we will continue to refine our calculations as additional analysis is completed. Our estimates may also be impacted as additional guidance from taxing authorities is issued. Tax effects for which no estimate can be determined Our accounting for the following elements of the Tax Act is incomplete and we continued accounting for them in accordance with ASC 740 on the basis of the tax laws in effect before enactment of the Tax Act. The Tax Act may affect the results in certain in vestments and partnerships in which we are a non-controlling interest owner. The information needed to determine a provisional estimate is not currently available (such as for interest deduction limitations in those entities and the changed definition of a U.S. Shareholder). Accordingly, no provisional estimates were recorded. Due to minimal formal guidance issued from state and local jurisdictions, provisional estimates have not been recorded for the impact of any state and local corporate income tax imp lications of the Tax Act. Guidance from state and local jurisdictions is expected during 2018 and the impact, if any, will be recorded when the related guidance is issued. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Inc ome In February 2018, the FASB issued an accounting standard that allows the optional reclassification of stranded tax effects within accumulated other comprehensive income (AOCI) that arise due to the enactment of the Tax Act to retained earnings. We elec ted to early adopt the standard for the period ended March 31, 2018 . As a result of adopting this standard, we reclassified $ 248 million from AOCI to retained earnings. The amount re classified includes stranded effects related to the change in the U.S. federal corporate income tax rate on the gross temporary differences and related valuation allowances. The effect of the Tax Act on gross temporary differences related to AOCI is provis ional. As we finalize the accounting for tax effects of the Tax Act on these items, additional reclassification adjustments may be recorded in future periods. We use an item-by-item approach to release the stranded or disproportionate income tax effects in AOCI related to our available-for-sale securities. Under this approach, a portion of the disproportionate tax effects is assigned to each individual security lot at the date the amount becomes lodged. When the individual securities are sold, mature, or are otherwise impaired on an other-than-temporary basis, the assigned portion of the disproportionate tax effect is reclassified from AOCI to income from continuing operations. 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 benefi t is reported in the same period as the related item. Certain tax effects are also not reflected in the estimated annual effective tax rate, primarily certain changes in the realizability of deferred tax ass ets and uncertain tax positions, and are recorde d in the period in which the change occurs. While certain impacts of the Tax Act are included in our annual effective tax rate, we continue to refine our calculations as additional information becomes available, which may result in changes to the estimated annual effective tax rate. Interim Tax Expense (Benefit) For the three -month period ended March 31, 2018 , the effective tax rate on income from continuing operations was 22.6 percent . The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax charges related to income in our foreign operations taxed at statutory tax rates higher than 21 percent, tax on GILTI earned by certain foreign subsidiaries, v aluation allowance activity related to certain foreign subsidiaries and non-deductible transfer pricing charges, partially offset by tax benefits associated with tax exempt income, reclassifications from accumulated other comprehensive income to income from continuing operations related to the disposal of available for sa le securities and excess tax deductions related to share based compensation payments recorded through the income statement in accordance with ASU 2016-09. For the three -month period ended March 31, 2017 , the effective tax rate on income from continuing operations was 29.9 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 e xempt income, reclassifications from accumulated other comprehensive 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 throug h the income statement in accordance with ASU 2016-09, partially offset by tax charges related to the disposition of subsidiaries and non-deductible transfer pricing charges. As a result of the Tax Act, the majority of accumulated foreign earnings that wer e previously untaxed are subject to a one-time deemed repatriation tax. Going forward, certain foreign earnings of our foreign affiliates will be exempt from U.S. tax upon repatriation. Notwithstanding the changes, U.S. tax on foreign exchange gain or loss and certain non-U.S. withholding taxes will continue to be applicable upon future repatriations of foreign earnings. For the period ended March 31, 2018 , we still consider our foreign earnings with respect to certain operations in Canad a, South Africa, the Far East, Latin America, Bermuda as well as the European, Asia Pacific and Middle East regions to be indefinitely reinvested. These earnings relate to ongoing operations and have been reinvested in active business operations. Deferred taxes , if necessary, have been provided on earnings of non-U.S. affiliates whose earnings are not indefinitely reinvested. Assessment of Deferred Tax Asset Valuation Allowance The evaluation of the recoverability of our deferred tax asset and the need for a valuation allowance requires us to weigh all positive and negative 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 w ith 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 assessi ng the recoverability of the deferred 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 profita bility 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, includ ing the effect of reversing taxable 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 reco verability of the deferred tax asset 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 grou p includes both life companies and non-life companies. While the U.S. taxable income of our non-life companies can be offset by our 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 operating loss carryforwards. The remaining tax liability of our life companies can be offset by the foreign tax credit carryforwards. Accordingly, we utilize both the net operating loss and foreign tax credit carryforwards concur rently which enables us to realize our tax attributes prior to expiration. As of March 31, 2018 , 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 ut ilized prior to expiration and, 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 materiall y, which may require us to consider any potential impact to our assessment of the recoverability of the deferred tax asset. Such potential impact could be material to our consolidated financial condition or results of operations for an individual reporting period. For the three -month period ended March 31, 2018 , recent changes in market conditions, including rising interest rates, impacted the unrealized tax gains and losses in the U.S. Life Insurance Companies’ available for sa le securities portfolio, resulting in a deferred tax asset related to net unrealized tax capital losses. The deferred tax asset relates to the unrealized losses for which the carryforward period has not yet begun, and as such, when assessing its recoverabi lity, we consider our ability and intent to hold the underlying securities to recovery. As of March 31, 2018 , based on all available evidence, we concluded no valuation allowance is necessary in the U.S. Life Insurance Companies’ availa ble for sale securities portfolio. For the three -month period ended March 31, 2018 , recent changes in market conditions, including rising interest rates, impacted the unrealized tax gains and losses in the U.S. Non-Life Compan ies’ available for sale securities portfolio, resulting in a decrease to the deferred tax liability related to net unrealized tax capital gains. As of March 31, 2018 , we continue to be in an overall unrealized tax gain position with resp ect to the U.S. Non-Life Companies’ available for sale securities portfolio and thus concluded no valuation allowance is necessary in the U.S. Non-Life Companies’ available for sale securities portfolio. For the three -month period ended March 31, 2018 , we recognized a net increase of $ 30 million in our deferred tax asset valuation allowance associated with certain foreign jurisdictions, primarily attributable to current year activity. 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. Th e 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 o f the Second Circuit 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. In January 2018, the parties reached non-binding agreements in principle on issues presented in the dispu te and are currently reviewing the computations reflecting the settlement terms. The resolution is not final and is subject to various reviews. The litigation has been stayed pending the outcome of the review process. We can provide no assurance regarding the outcome of any such litigation or whether binding compromised settlements with the parties will ultimately be reached. We currently believe that we have adequate reserves for the potential liabilities that may result from these matters. Accounting for Uncertainty in Income Taxes At both March 31, 2018 and December 31, 2017 , our unrecognized tax benefits, excluding interest and penalties were $ 4.7 billion . At March 31, 2018 and December 31, 2017 , 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 $ 52 m illion and $ 28 m illion , respectively . Accordingly, at both March 31, 2018 and December 31, 2017 , the am ounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $ 4.7 billion. Interest and penalties related to unrecognized tax benefits are recognized in income t ax expense. At March 31, 2018 and December 31, 2017 , we had accrued liabilities of $ 2.1 billion and $ 2.0 billion , respecti vely, for the payment of interest (net of the federal benefit) and penalties. For the three -month periods ended March 31, 2018 and 2017 , we accrued expense (benefit) of $ 54 million and $ 17 million , respectively, for the payment of interest and penalties . We believe it is reasonably possible that our unrecognized tax benefits could decrease within the next 12 months by as much as $ 3.9 billion, principally as a result of potential resolutions or settlements o f prior years’ tax items. The prior years’ tax items include unrecognized tax benefits related to the deductibility of certain expenses and matters related to cross border financing transactions.

INFORMATION PROVIDED IN CONNECT

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT	3 Months Ended
	Mar. 31, 2018
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT	15 . 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 March 31, 2018 Assets: Short-term investments (a) $ 6,031 $ - $ 11,764 $ (3,179) $ 14,616 Other investments (b) 4,814 - 302,945 - 307,759 Total investments 10,845 - 314,709 (3,179) 322,375 Cash 4 5 2,094 - 2,103 Loans to subsidiaries (c) 34,747 - 579 (35,326) - Investment in consolidated subsidiaries (c) 37,224 28,741 - (65,965) - Other assets, including deferred income taxes (d) 15,932 166 160,755 (2,188) 174,665 Total assets $ 98,752 $ 28,912 $ 478,137 $ (106,658) $ 499,143 Liabilities: Insurance liabilities $ - $ - $ 284,657 $ - $ 284,657 Long-term debt 23,038 642 9,939 - 33,619 Other liabilities, including intercompany balances (b) 12,343 133 110,443 (5,409) 117,510 Loans from subsidiaries (c) 579 - 34,749 (35,328) - Total liabilities 35,960 775 439,788 (40,737) 435,786 Total AIG shareholders’ equity 62,792 28,137 37,784 (65,921) 62,792 Non-redeemable noncontrolling interests - - 565 - 565 Total equity 62,792 28,137 38,349 (65,921) 63,357 Total liabilities and equity $ 98,752 $ 28,912 $ 478,137 $ (106,658) $ 499,143 December 31, 2017 Assets: Short-term investments (a) $ 2,541 $ - $ 11,559 $ (3,714) $ 10,386 Other investments (b) 6,004 - 305,902 - 311,906 Total investments 8,545 - 317,461 (3,714) 322,292 Cash 3 20 2,339 - 2,362 Loans to subsidiaries (c) 35,004 - 517 (35,521) - Investment in consolidated subsidiaries (c) 40,135 30,359 - (70,494) - Other assets, including deferred income taxes (d) 16,016 170 159,594 (2,133) 173,647 Total assets $ 99,703 $ 30,549 $ 479,911 $ (111,862) $ 498,301 Liabilities: Insurance liabilities $ - $ - $ 282,105 $ - $ 282,105 Long-term debt 21,557 642 9,441 - 31,640 Other liabilities, including intercompany balances (b) 12,458 143 112,275 (6,028) 118,848 Loans from subsidiaries (c) 517 - 35,004 (35,521) - Total liabilities 34,532 785 438,825 (41,549) 432,593 Total AIG shareholders’ equity 65,171 29,764 40,549 (70,313) 65,171 Non-redeemable noncontrolling interests - - 537 - 537 Total equity 65,171 29,764 41,086 (70,313) 65,708 Total liabilities and equity $ 99,703 $ 30,549 $ 479,911 $ (111,862) $ 498,301 (a) At March 31, 2018 , includes restricted cash of $ 15 million and $ 32 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2017 , includes restricted cash of $ 4 million and $ 54 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. (b) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment. ( c ) Eliminated in consolidation . (d) At March 31, 2018 , includes restricted cash of $ 1 million and $ 220 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2017 , includes restricted cash of $ 1 million and $ 316 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively . Condensed Consolidating Statements of Income American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Three Months Ended March 31, 2018 Revenues: Equity in earnings of consolidated subsidiaries * $ 1,033 $ 722 $ - $ (1,755) $ - Other income 258 - 11,512 (58) 11,712 Total revenues 1,291 722 11,512 (1,813) 11,712 Expenses: Interest expense 220 12 48 (3) 277 Gain on extinguishment of debt - - 4 - 4 Other expenses 152 1 10,106 (55) 10,204 Total expenses 372 13 10,158 (58) 10,485 Income (loss) from continuing operations before income tax expense (benefit) 919 709 1,354 (1,755) 1,227 Income tax expense (benefit) (19) 3 293 - 277 Income (loss) from continuing operations 938 706 1,061 (1,755) 950 Loss from discontinued operations, net of income taxes - - (1) - (1) Net income (loss) 938 706 1,060 (1,755) 949 Less: Net income (loss) from continuing operations attributable to noncontrolling interests - - 11 - 11 Net income (loss) attributable to AIG $ 938 $ 706 $ 1,049 $ (1,755) $ 938 Three Months Ended March 31, 2017 Revenues: Equity in earnings of consolidated subsidiaries * $ 1,462 $ 600 $ - $ (2,062) $ - Other income 196 - 12,382 54 12,632 Total revenues 1,658 600 12,382 (2,008) 12,632 Expenses: Interest expense 242 12 46 (2) 298 Loss on extinguishment of debt - - (1) - (1) Other expenses 335 1 10,325 (53) 10,608 Total expenses 577 13 10,370 (55) 10,905 Income (loss) from continuing operations before income tax expense (benefit) 1,081 587 2,012 (1,953) 1,727 Income tax expense (benefit) (104) (4) 624 - 516 Income (loss) from continuing operations 1,185 591 1,388 (1,953) 1,211 Net income (loss) 1,185 591 1,388 (1,953) 1,211 Less: Net income (loss) from continuing operations attributable to noncontrolling interests - - 26 - 26 Net income (loss) attributable to AIG $ 1,185 $ 591 $ 1,362 $ (1,953) $ 1,185 * 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 March 31, 2018 Net income (loss) $ 938 $ 706 $ 1,060 $ (1,755) $ 949 Other comprehensive income (loss) (2,669) 4,950 14,655 (19,605) (2,669) Comprehensive income (loss) (1,731) 5,656 15,715 (21,360) (1,720) Total comprehensive income attributable to noncontrolling interests - - 11 - 11 Comprehensive income (loss) attributable to AIG $ (1,731) $ 5,656 $ 15,704 $ (21,360) $ (1,731) Three Months Ended March 31, 2017 Net income (loss) $ 1,185 $ 591 $ 1,388 $ (1,953) $ 1,211 Other comprehensive income (loss) 551 4,660 51,030 (55,690) 551 Comprehensive income (loss) 1,736 5,251 52,418 (57,643) 1,762 Total comprehensive income attributable to noncontrolling interests - - 26 - 26 Comprehensive income (loss) attributable to AIG $ 1,736 $ 5,251 $ 52,392 $ (57,643) $ 1,736 Condensed Consolidating Statements of Cash Flows American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Three Months Ended March 31, 2018 Net cash (used in) provided by operating activities $ 9 $ 362 $ (501) $ (808) $ (938) Cash flows from investing activities: Sales of investments 1,322 - 15,830 (2,681) 14,471 Sales of divested businesses, net - - 6 - 6 Purchase of investments (39) - (15,405) 2,681 (12,763) Loans to subsidiaries - net 422 - (60) (362) - Contributions from (to) subsidiaries - net 153 - - (153) - Net change in short-term investments (2,460) - (580) - (3,040) Other, net (79) - (567) - (646) Net cash (used in) investing activities (681) - (776) (515) (1,972) Cash flows from financing activities: Issuance of long-term debt 2,472 - 567 - 3,039 Repayments of long-term debt (1,107) - (220) - (1,327) Purchase of common stock (298) - - - (298) Intercompany loans - net 60 - (422) 362 - Cash dividends paid (289) (377) (431) 808 (289) Other, net (154) - 1,362 153 1,361 Net cash (used in) provided by financing activities 684 (377) 856 1,323 2,486 Effect of exchange rate changes on cash and restricted cash - - 58 - 58 Change in cash and restricted cash 12 (15) (363) - (366) Cash and restricted cash at beginning of year 8 20 2,709 - 2,737 Cash and restricted cash at end of period $ 20 $ 5 $ 2,346 $ - $ 2,371 Three Months Ended March 31, 2017 Net cash (used in) provided by operating activities $ 651 $ (23) $ (10,915) $ (49) $ (10,336) Cash flows from investing activities: Sales of investments 2,699 - 26,482 (2,482) 26,699 Sales of divested businesses, net - - 24 - 24 Purchase of investments (890) - (14,769) 2,482 (13,177) Loans to subsidiaries - net (56) - 183 (127) - Contributions from (to) subsidiaries - net 206 - - (206) - Net change in short-term investments 1,477 - (227) - 1,250 Other, net (5) - (292) - (297) Net cash (used in) provided by investing activities 3,431 - 11,401 (333) 14,499 Cash flows from financing activities: Issuance of long-term debt - - 151 - 151 Repayments of long-term debt - - (602) - (602) Purchase of common stock (3,585) - - - (3,585) Intercompany loans - net (183) - 56 127 - Cash dividends paid (307) - (49) 49 (307) Other, net - - 89 206 295 Net cash (used in) provided by financing activities (4,075) - (355) 382 (4,048) Effect of exchange rate changes on cash and restricted cash - - (82) - (82) Change in cash and restricted cash 7 (23) 49 - 33 Cash and restricted cash at beginning of year 3 34 2,070 - 2,107 Change in cash of businesses held for sale - - 52 - 52 Cash and restricted cash at end of period $ 10 $ 11 $ 2,171 $ - $ 2,192 Supplementary Disclosure of Co ndensed Consolidating Cash Flow Information American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG March 31, 2018 Cash $ 4 $ 5 $ 2,094 $ - $ 2,103 Restricted cash included in Short-term investments 15 - 32 - 47 Restricted cash included in Other assets 1 - 220 - 221 Total cash and restricted cash shown in the Condensed Consolidating Statements of Cash Flows $ 20 $ 5 $ 2,346 $ - $ 2,371 Cash (paid) received during the 2018 period for: Interest: Third party $ (260) $ - $ (97) $ - $ (357) Intercompany - - - - - Taxes: Income tax authorities $ (9) $ - $ (19) $ - $ (28) Intercompany 403 - (403) - - March 31, 2017 Cash $ 2 $ 11 $ 1,905 $ - $ 1,918 Restricted cash included in Short-term investments 7 - 54 - 61 Restricted cash included in Other assets 1 - 212 - 213 Total cash and restricted cash shown in the Condensed Consolidating Statements of Cash Flows $ 10 $ 11 $ 2,171 $ - $ 2,192 Cash (paid) received during the 2017 period for: Interest: Third party $ (288) $ (23) $ (43) $ - $ (354) Intercompany - - - - - Taxes: Income tax authorities $ (14) $ - $ (54) $ - $ (68) Intercompany 1,090 - (1,090) - - American International Group, Inc. ( As Guarantor ) Supplementary Disclosure o f Non-Cash Activities: Three Months Ended March 31, (in millions) 2018 2017 Intercompany non-cash financing and investing activities: Capital contributions $ 2,339 $ 198 Dividends received in the form of securities 60 150 Return of capital 2,706 -

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2018
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	16 . Subsequent Events Dividends Declared On May 2 , 2018, our Board of Directors declared a cash dividend on AIG Common Stock of $ 0.32 per share, payable on June 28 , 2018 to shareholders of record on June 14 , 2018.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2018
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: liability for unpaid losses and loss adjustment expenses (loss reserves); reinsurance assets; valuation of future policy benefit liabilities and timing and extent of loss recognition; valuation of liabilities for guaranteed benefit features of variable annuity products; estimated gross profits to value deferred 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; allowances for loan losses; liability for legal contingencies; fair value measurements of certain financial assets and liabilities; and income tax assets and liabilities, including recoverability of our net deferred tax asset and the predictability of future tax operating profitability of the character necessary to realize the net deferred tax asset and provisional estimates associated with the Tax Act. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.

SUMMARY OF SIGNIFICANT ACCOUN27

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Future Application of Accounting Standards	Future Application of Accounting Standards 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. We plan to adopt the standard on its effective date of January 1, 2019 using a modified retrospective approach upon adoption. 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. We do not ex pect the impact of the standard to have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Financial Instruments - Credit Losses In June 2016, the FASB issued an accounting standar d 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 with a new “current expected credit loss model” that generally will result in earlier recognition of credit losses. The standard will apply to financial assets subject to credit losses, including loans measured at amortized cost, reinsurance receivables and certain off-balance sheet credit exposures. Addit ionally, the impairment of available-for-sale debt securities, including purchased credit deteriorated securities, are subject to the new guidance and will be measured in a similar manner, except that losses will be recognized as allowances rather than red uctions 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 continuing to develop our implementation plan to adopt the standard and are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures. While we expect an increase in our allowances for credit losses for the financial instruments within scope of the standard, given the objective of the new standard, the amount of any change will be dependent on our portfolios’ composition and quality at the adoption date as well as economic conditions and forecasts at that time. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued an accounting standard that eliminates the requirement to calculate the implied fair value of goodwill, through a hypothetical purchase price alloca tion, 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 permi tted. We are evaluating the timing of our adoption. Any impact of the standard will be dependent on the market conditions of the reporting units at the time of adoption. Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB iss ued an accounting standard that shortens the amortization period for certain callable debt securities held at a premium by requiring the premium to be amortized to the earliest call date. The standard does not require an accounting change for securities h eld at a discount, which continue to be amortized to maturity. We plan to adopt the standard retrospectively on its effective date, January 1, 2019. We do not expect the standard to have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Derivatives and Hedging In August 2017, the FASB issued an accounting standard that improves and expands hedge accounting for both financial and commodity risks. The provisions of the amendment ar e intended to better align the accounting with an entity’s risk management activities, enhance the transparency on how the economic results are presented in the financial statements and the footnote, and simplify the application of hedge accounting treatme nt. The standard is effective on January 1, 2019, with early adoption permitted. We are evaluating the timing of adoption and are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and r equired disclosures.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Adopted	Accounting Standards Adopted During 2018 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, financial instruments, and certain other agreements that are governed under other GAAP guidance, but could affect the revenue recognition for certain of our other activities. We adopted the standard usi ng the modified retrospective approach on its required effective date of January 1, 2018. Our analysis of revenues indicated that substantially all of our revenues were from sources excluded from the scope of the standard. For those revenue sources withi n the scope of the standard, there were no material changes in the timing or measurement of revenues based upon the guidance. As substantially all of our revenue sources were excluded from the scope of the standard, the adoption of the standard did not ha ve a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued an accounting stand ard 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 financial 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 without readily determinable fair va lues 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 requirements for financial instrument s carried at amortized cost. We adopted the standard on its effective date of January 1, 2018 using the modified retrospective approach. The impact of the adoption is primarily related to the reclassification of unrealized gains of equity securities result ing in a net decrease to beginning Accumulated other comprehensive income and a corresponding net increase to beginning Retained earnings of $824 million. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued an acco unting standard that addresses diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments provide clarity on the treatment of eight specifically defined types of cash inflows and out flows. We adopted the standard retrospectively on its effective date of January 1, 2018. The standard addresses presentation in the statement of cash flows only and did not have a material impact on our reported consolidated financial condition, results o f operations or required disclosures. Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issued an accounting standard that will require an entity to recognize the income tax consequences of an intra-entity transfer of an as set other than inventory when the transfer occurs, rather than when the asset is sold to a third party. We adopted the standard on its effective date of January 1, 2018 using a modified retrospective approach. The adoption of this standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. 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 restricted cash or restricted cash equivalents in the statement of cash flows. We adopted the standard retrospectively on its effective date of January 1, 2018. The standard addresses presentation of restricted cash in the Statement of Cash Flows only and had no effect on our reported consolidated financial condition, r esults of operations or required disclosures. Gains and Losses from the Derecognition of Nonfinancial Assets In February 2017, the FASB issued an accounting standard that clarifies the scope of the derecognition guidance for the sale, transfer and derecogn ition of non-financial assets to noncustomers that aligns with the new revenue recognition principles. The standard also adds new accounting for partial sales of nonfinancial assets (including real estate) that requires an entity to derecognize a nonfinan cial asset when it 1) ceases to have a controlling financial interest in the legal entity that holds the asset based on the consolidation model and 2) transfers control of the asset based on the revenue recognition model. We adopted this standard on its ef fective date of January 1, 2018 under the modified retrospective approach. Based on our evaluation, the standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Imp roving 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 of net periodic pension and postretirement benefit costs in th e 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 separately presented in the income statement. The amendments als o allow only the service cost component to be eligible for capitalization when applicable. We adopted this standard on its effective date of January 1, 2018. The standard primarily addresses the presentation of the service cost component of net periodic b enefit costs in the income statement. AIG’s U.S. pension plans are frozen and no longer accrue benefits, which are reflected as service costs. Therefore, the standard did not have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. 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 a n entity to apply modification accounting. We prospectively adopted this standard on its effective date of January 1, 2018 and the standard did not have a material effect on our reported consolidated financial condition, results of operations, cash flow s or required disclosures. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued an accounting standard that allows the optional reclassification of stranded tax effects within accumulated other comprehensive income to retained earnings that arise due to the enactment of the Tax Cuts and Jobs Act of 2017 (Tax Act). The amount of the reclassification would reflect the effect of the change in the U.S. federal corporate income tax r ate on the gross deferred tax amounts and related valuation allowances, if any, at the date of enactment of the Tax Act and other income tax effects of the Tax Act on items remaining in accumulated other comprehensive income. We adopted the standard effective January 1, 2018. The impact of the adoption of the standard resulted in an increase to beginning Accumulated other comprehensive income and a corresponding decrease to beginning Retained earnings of $248 million. For more information on the adoption of the Tax Act, see Note 14.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2018
SEGMENT INFORMATION
Schedule of continuing operations by reportable segment	The following table presents AIG’s continuing operations by operating segment: Three Months Ended March 31, 2018 2017 Adjusted Adjusted Total Pre-tax Total Pre-tax (in millions) Revenues Income (Loss) Revenues Income (Loss) General Insurance North America $ 3,340 $ 320 $ 3,840 $ 828 International 4,104 190 3,698 233 Total General Insurance 7,444 510 7,538 1,061 Life and Retirement Individual Retirement 1,361 499 1,373 539 Group Retirement 761 282 718 243 Life Insurance 1,061 52 1,013 54 Institutional Markets 277 59 599 62 Total Life and Retirement 3,460 892 3,703 898 Other Operations 150 (342) 474 (308) Legacy Portfolio 836 145 1,084 342 AIG Consolidation and elimination (62) 11 (64) 48 Total AIG Consolidated adjusted revenues and adjusted pre-tax income 11,828 1,216 12,735 2,041 Reconciling Items from adjusted pre-tax income to pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits (77) (77) 11 11 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - (31) - 53 Other income (expense) - net (11) - (9) - Gain (Loss) on extinguishment of debt - (4) - 1 Net realized capital losses * (29) (19) (115) (115) Income (loss) from divested businesses - 8 - (100) Non-operating litigation reserves and settlements 1 (13) 10 6 (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - (34) - (14) Net loss reserve discount benefit (charge) - 205 - 25 Restructuring and other costs - (24) - (181) Revenues and Pre-tax income $ 11,712 $ 1,227 $ 12,632 $ 1,727 * Includes all net realized capital gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
FAIR VALUE MEASUREMENTS
Assets and liabilities measured at fair value on a recurring basis	March 31, 2018 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting (a) Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ - $ 2,833 $ - $ - $ - $ 2,833 Obligations of states, municipalities and political subdivisions - 15,550 2,261 - - 17,811 Non-U.S. governments 25 15,689 9 - - 15,723 Corporate debt - 129,468 1,871 - - 131,339 RMBS - 20,050 15,839 - - 35,889 CMBS - 13,025 584 - - 13,609 CDO/ABS - 8,864 7,846 - - 16,710 Total bonds available for sale 25 205,479 28,410 - - 233,914 Other bond securities: U.S. government and government sponsored entities 594 2,183 - - - 2,777 Non-U.S. governments - 54 - - - 54 Corporate debt - 1,784 19 - - 1,803 RMBS - 391 1,427 - - 1,818 CMBS - 493 73 - - 566 CDO/ABS - 603 4,776 - - 5,379 Total other bond securities 594 5,508 6,295 - - 12,397 Other equity securities (b) 1,716 6 3 - - 1,725 Mortgage and other loans receivable - - - - - - Other invested assets (c) 5 1 292 - - 298 Derivative assets: Interest rate contracts - 2,549 - - - 2,549 Foreign exchange contracts - 792 3 - - 795 Equity contracts 48 142 78 - - 268 Credit contracts - - 2 - - 2 Other contracts - - 17 - - 17 Counterparty netting and cash collateral - - - (1,589) (1,268) (2,857) Total derivative assets 48 3,483 100 (1,589) (1,268) 774 Short-term investments 2,611 483 - - - 3,094 Separate account assets 85,362 5,227 - - - 90,589 Total $ 90,361 $ 220,187 $ 35,100 $ (1,589) $ (1,268) $ 342,791 Liabilities: Policyholder contract deposits $ - $ 15 $ 3,696 $ - $ - $ 3,711 Derivative liabilities: Interest rate contracts 1 2,185 17 - - 2,203 Foreign exchange contracts - 1,213 4 - - 1,217 Equity contracts - 13 - - - 13 Credit contracts - 12 252 - - 264 Other contracts - - 5 - - 5 Counterparty netting and cash collateral - - - (1,589) (980) (2,569) Total derivative liabilities 1 3,423 278 (1,589) (980) 1,133 Long-term debt - 2,820 - - - 2,820 Other liabilities 25 - - - - 25 Total $ 26 $ 6,258 $ 3,974 $ (1,589) $ (980) $ 7,689 December 31, 2017 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting (a) Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 201 $ 2,455 $ - $ - $ - $ 2,656 Obligations of states, municipalities and political subdivisions - 16,240 2,404 - - 18,644 Non-U.S. governments 20 15,631 8 - - 15,659 Corporate debt - 133,003 1,173 - - 134,176 RMBS - 21,098 16,136 - - 37,234 CMBS - 13,217 624 - - 13,841 CDO/ABS - 8,131 8,651 - - 16,782 Total bonds available for sale 221 209,775 28,996 - - 238,992 Other bond securities: U.S. government and government sponsored entities 238 2,564 - - - 2,802 Non-U.S. governments - 57 - - - 57 Corporate debt - 1,891 18 - - 1,909 RMBS - 421 1,464 - - 1,885 CMBS - 485 74 - - 559 CDO/ABS - 604 4,956 - - 5,560 Total other bond securities 238 6,022 6,512 - - 12,772 Equity securities available for sale: Common stock 1,061 - - - - 1,061 Preferred stock 18 515 - - - 533 Mutual funds 110 4 - - - 114 Total equity securities available for sale 1,189 519 - - - 1,708 Other equity securities 589 - - - - 589 Mortgage and other loans receivable - - 5 - - 5 Other invested assets (c) - 1 250 - - 251 Derivative assets: Interest rate contracts 1 2,170 - - - 2,171 Foreign exchange contracts - 827 4 - - 831 Equity contracts 188 252 82 - - 522 Credit contracts - - 1 - - 1 Other contracts - - 20 - - 20 Counterparty netting and cash collateral - - - (1,464) (1,159) (2,623) Total derivative assets 189 3,249 107 (1,464) (1,159) 922 Short-term investments 2,078 537 - - - 2,615 Separate account assets 87,141 5,657 - - - 92,798 Total $ 91,645 $ 225,760 $ 35,870 $ (1,464) $ (1,159) $ 350,652 Liabilities: Policyholder contract deposits $ - $ 14 $ 4,136 $ - $ - $ 4,150 Derivative liabilities: Interest rate contracts 2 2,176 22 - - 2,200 Foreign exchange contracts - 1,241 4 - - 1,245 Equity contracts 2 19 - - - 21 Credit contracts - 14 263 - - 277 Other contracts - - 5 - - 5 Counterparty netting and cash collateral - - - (1,464) (1,249) (2,713) Total derivative liabilities 4 3,450 294 (1,464) (1,249) 1,035 Long-term debt - 2,888 - - - 2,888 Other liabilities 46 43 - - - 89 Total $ 50 $ 6,395 $ 4,430 $ (1,464) $ (1,249) $ 8,162 (a ) Represents netting of derivative exposures covered by qualifying master netting agreements. (b ) As a result of the adoption of the Recognition and Measurement of Financial Assets and Financial Liabilities standard on January 1, 2018 (F inancial Instruments Recognition and Measurement Standard ) , equity securities are no longer classified and accounted for as available for sale securities . (c ) Excludes investments that are meas ured at fair value using the net asset value (NAV) per share (or its equivalent), w hich totaled $ 5.9 billion and $ 6.0 billion as of March 31, 2018 and December 31, 2017 , respectively.
Changes in Level 3 recurring fair value measurements (Assets)	Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value Gains (Losses) Other Issuances and Gross Gross to Assets Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Three Months Ended March 31, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,404 $ 1 $ (75) $ (69) $ - $ - $ - $ - $ 2,261 $ - Non-U.S. governments 8 (4) 4 1 - - - - 9 - Corporate debt 1,173 (57) 10 248 565 (68) - - 1,871 - RMBS 16,136 266 5 (536) - (32) - - 15,839 - CMBS 624 6 (17) (23) - (6) - - 584 - CDO/ABS 8,651 8 (88) (710) - (15) - - 7,846 - Total bonds available for sale 28,996 220 (161) (1,089) 565 (121) - - 28,410 - Other bond securities: Corporate debt 18 1 - - - - - - 19 - RMBS 1,464 39 - (76) - - - - 1,427 51 CMBS 74 (1) - (1) 1 - - - 73 (1) CDO/ABS 4,956 89 - (260) - (9) - - 4,776 8 Total other bond securities 6,512 128 - (337) 1 (9) - - 6,295 58 Other equity securities (a) - - - 3 - - - - 3 2 Mortgage and other loans receivable 5 - - (5) - - - - - - Other invested assets 250 23 1 18 - - - - 292 30 Total $ 35,763 $ 371 $ (160) $ (1,410) $ 566 $ (130) $ - $ - $ 35,000 $ 90 Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value (Gains) Losses Other Issuances and Gross Gross to Liabilities Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Liabilities: Policyholder contract deposits $ 4,136 $ (506) $ - $ 66 $ - $ - $ - $ - $ 3,696 $ 604 Derivative liabilities, net: Interest rate contracts 22 (3) - (2) - - - - 17 3 Foreign exchange contracts - (10) - 11 - - - - 1 3 Equity contracts (82) 4 - - - - - - (78) (4) Credit contracts 262 (10) - (2) - - - - 250 10 Other contracts (15) (17) - 20 - - - - (12) 17 Total derivative liabilities, net (b) 187 (36) - 27 - - - - 178 29 Long-term debt (c) - - - - - - - - - - Total $ 4,323 $ (542) $ - $ 93 $ - $ - $ - $ - $ 3,874 $ 633 Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value Gains (Losses) Other Issuances and Gross Gross to Assets Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Three Months Ended March 31, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,040 $ 2 $ (4) $ 21 $ - $ (18) $ - $ - $ 2,041 $ - Non-U.S. governments 17 - - (1) - - - - 16 - Corporate debt 1,133 (4) (3) (13) 136 (170) - - 1,079 - RMBS 16,906 289 151 (858) 8 (9) - - 16,487 - CMBS 2,040 5 5 (348) - (699) - - 1,003 - CDO/ABS 7,835 6 48 (102) - (32) - - 7,755 - Total bonds available for sale 29,971 298 197 (1,301) 144 (928) - - 28,381 - Other bond securities: Corporate debt 17 1 - - - - - - 18 1 RMBS 1,605 55 - (125) - (33) - - 1,502 24 CMBS 155 - - (17) - (73) - - 65 1 CDO/ABS 5,703 173 - (368) - - - - 5,508 70 Total other bond securities 7,480 229 - (510) - (106) - - 7,093 96 Equity securities available for sale: Common stock - - - 8 - - - - 8 - Total equity securities available for sale - - - 8 - - - - 8 - Other equity securities - - - - - - - - - - Mortgage and other loans receivable 11 - - - - - - - 11 - Other invested assets 204 (1) (5) (17) - (1) - - 180 - Total $ 37,666 $ 526 $ 192 $ (1,820) $ 144 $ (1,035) $ - $ - $ 35,673 $ 96 Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value (Gains) Losses Other Issuances and Gross Gross to Liabilities Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Liabilities: Policyholder contract deposits $ 3,033 $ (45) $ - $ 84 $ - $ - $ - $ - $ 3,072 $ 98 Derivative liabilities, net: Interest rate contracts 38 (3) - (3) - - - - 32 3 Foreign exchange contracts 11 - - (5) - - - - 6 - Equity contracts (58) (11) - 7 - - - - (62) 5 Credit contracts 329 (15) - 1 - - - - 315 11 Other contracts (11) (19) - 19 - - - - (11) (1) Total derivative liabilities, net (b) 309 (48) - 19 - - - - 280 18 Long-term debt (c) 71 12 - (25) - - - - 58 (2) Total $ 3,413 $ (81) $ - $ 78 $ - $ - $ - $ - $ 3,410 $ 114 (a) As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, equity securities are no longer classified and accounted for as available for sale securities. (b) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. (c) Includes guaranteed investment agreements (GIAs), no tes, bonds, loans and mortgages payable.
Changes in Level 3 recurring fair value measurements (Liabilities)	Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value Gains (Losses) Other Issuances and Gross Gross to Assets Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Three Months Ended March 31, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,404 $ 1 $ (75) $ (69) $ - $ - $ - $ - $ 2,261 $ - Non-U.S. governments 8 (4) 4 1 - - - - 9 - Corporate debt 1,173 (57) 10 248 565 (68) - - 1,871 - RMBS 16,136 266 5 (536) - (32) - - 15,839 - CMBS 624 6 (17) (23) - (6) - - 584 - CDO/ABS 8,651 8 (88) (710) - (15) - - 7,846 - Total bonds available for sale 28,996 220 (161) (1,089) 565 (121) - - 28,410 - Other bond securities: Corporate debt 18 1 - - - - - - 19 - RMBS 1,464 39 - (76) - - - - 1,427 51 CMBS 74 (1) - (1) 1 - - - 73 (1) CDO/ABS 4,956 89 - (260) - (9) - - 4,776 8 Total other bond securities 6,512 128 - (337) 1 (9) - - 6,295 58 Other equity securities (a) - - - 3 - - - - 3 2 Mortgage and other loans receivable 5 - - (5) - - - - - - Other invested assets 250 23 1 18 - - - - 292 30 Total $ 35,763 $ 371 $ (160) $ (1,410) $ 566 $ (130) $ - $ - $ 35,000 $ 90 Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value (Gains) Losses Other Issuances and Gross Gross to Liabilities Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Liabilities: Policyholder contract deposits $ 4,136 $ (506) $ - $ 66 $ - $ - $ - $ - $ 3,696 $ 604 Derivative liabilities, net: Interest rate contracts 22 (3) - (2) - - - - 17 3 Foreign exchange contracts - (10) - 11 - - - - 1 3 Equity contracts (82) 4 - - - - - - (78) (4) Credit contracts 262 (10) - (2) - - - - 250 10 Other contracts (15) (17) - 20 - - - - (12) 17 Total derivative liabilities, net (b) 187 (36) - 27 - - - - 178 29 Long-term debt (c) - - - - - - - - - - Total $ 4,323 $ (542) $ - $ 93 $ - $ - $ - $ - $ 3,874 $ 633 Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value Gains (Losses) Other Issuances and Gross Gross to Assets Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Three Months Ended March 31, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,040 $ 2 $ (4) $ 21 $ - $ (18) $ - $ - $ 2,041 $ - Non-U.S. governments 17 - - (1) - - - - 16 - Corporate debt 1,133 (4) (3) (13) 136 (170) - - 1,079 - RMBS 16,906 289 151 (858) 8 (9) - - 16,487 - CMBS 2,040 5 5 (348) - (699) - - 1,003 - CDO/ABS 7,835 6 48 (102) - (32) - - 7,755 - Total bonds available for sale 29,971 298 197 (1,301) 144 (928) - - 28,381 - Other bond securities: Corporate debt 17 1 - - - - - - 18 1 RMBS 1,605 55 - (125) - (33) - - 1,502 24 CMBS 155 - - (17) - (73) - - 65 1 CDO/ABS 5,703 173 - (368) - - - - 5,508 70 Total other bond securities 7,480 229 - (510) - (106) - - 7,093 96 Equity securities available for sale: Common stock - - - 8 - - - - 8 - Total equity securities available for sale - - - 8 - - - - 8 - Other equity securities - - - - - - - - - - Mortgage and other loans receivable 11 - - - - - - - 11 - Other invested assets 204 (1) (5) (17) - (1) - - 180 - Total $ 37,666 $ 526 $ 192 $ (1,820) $ 144 $ (1,035) $ - $ - $ 35,673 $ 96 Net Changes in Realized and Purchases, Unrealized Gains Unrealized Sales, Reclassified (Losses) Included Fair Value (Gains) Losses Other Issuances and Gross Gross to Liabilities Fair Value in Income on Beginning Included Comprehensive Settlements, Transfers Transfers Divested Held for End Instruments Held (in millions) of Period in Income Income (Loss) Net in out Businesses Sale of Period at End of Period Liabilities: Policyholder contract deposits $ 3,033 $ (45) $ - $ 84 $ - $ - $ - $ - $ 3,072 $ 98 Derivative liabilities, net: Interest rate contracts 38 (3) - (3) - - - - 32 3 Foreign exchange contracts 11 - - (5) - - - - 6 - Equity contracts (58) (11) - 7 - - - - (62) 5 Credit contracts 329 (15) - 1 - - - - 315 11 Other contracts (11) (19) - 19 - - - - (11) (1) Total derivative liabilities, net (b) 309 (48) - 19 - - - - 280 18 Long-term debt (c) 71 12 - (25) - - - - 58 (2) Total $ 3,413 $ (81) $ - $ 78 $ - $ - $ - $ - $ 3,410 $ 114 (a) As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, equity securities are no longer classified and accounted for as available for sale securities. (b) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. (c) Includes guaranteed investment agreements (GIAs), no tes, 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 March 31, 2018 Bonds available for sale $ 282 $ (62) $ - $ 220 Other bond securities 23 (4) 109 128 Other equity securities - - - - Other invested assets 25 - (2) 23 Three Months Ended March 31, 2017 Bonds available for sale $ 298 $ - $ - $ 298 Other bond securities 75 6 148 229 Other equity securities - - - - Other invested assets - (3) 2 (1) Net Net Realized Investment Capital Other (in millions) Income (Gains) Losses Income Total Three Months Ended March 31, 2018 Policyholder contract deposits - (506) - (506) Derivative liabilities, net - 1 (37) (36) Long-term debt - - - - Three Months Ended March 31, 2017 Policyholder contract deposits - (45) - (45) Derivative liabilities, net - (7) (41) (48) Long-term debt - - 12 12
Gross components of purchases, sales, issues and settlements, net	Issuances Purchases, Sales, and Issuances and (in millions) Purchases Sales Settlements Settlements, Net (a) Three Months Ended March 31, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 15 $ - $ (84) $ (69) Non-U.S. governments 2 - (1) 1 Corporate debt 254 (3) (3) 248 RMBS 233 (5) (764) (536) CMBS 12 - (35) (23) CDO/ABS 495 (851) (354) (710) Total bonds available for sale 1,011 (859) (1,241) (1,089) Other bond securities: RMBS 1 (5) (72) (76) CMBS - - (1) (1) CDO/ABS - (4) (256) (260) Total other bond securities 1 (9) (329) (337) Other equity securities 3 - - 3 Mortgage and other loans receivable - (5) - (5) Other invested assets 22 - (4) 18 Total assets $ 1,037 $ (873) $ (1,574) $ (1,410) Liabilities: Policyholder contract deposits $ - $ 112 $ (46) $ 66 Derivative liabilities, net (7) - 34 27 Long-term debt (b) - - - - Total liabilities $ (7) $ 112 $ (12) $ 93 Three Months Ended March 31, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 37 $ (5) $ (11) $ 21 Non-U.S. governments - (1) - (1) Corporate debt - - (13) (13) RMBS 339 (244) (953) (858) CMBS 39 (67) (320) (348) CDO/ABS 13 - (115) (102) Total bonds available for sale 428 (317) (1,412) (1,301) Other bond securities: RMBS 98 (167) (56) (125) CMBS - (11) (6) (17) CDO/ABS - - (368) (368) Total other bond securities 98 (178) (430) (510) Equity securities available for sale 8 - - 8 Other equity securities - - - - Mortgage and other loans receivable - - - - Other invested assets 1 - (18) (17) Total assets $ 535 $ (495) $ (1,860) $ (1,820) Liabilities: Policyholder contract deposits $ - $ 70 $ 14 $ 84 Derivative liabilities, net - - 19 19 Long-term debt (b) - - (25) (25) Total liabilities $ - $ 70 $ 8 $ 78 (a) There were no issuances during the three -month period s ended March 31, 2018 and 2017 , respectively . (b) Includes GIAs, notes, bonds, loans and mortgages payable .
Significant unobservable inputs used for recurring fair value measurements	Fair Value at March 31, Valuation Range (in millions) 2018 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,571 Discounted cash flow Yield 3.82% - 4.51% (4.16%) Corporate debt 1,638 Discounted cash flow Yield 4.74% - 13.88% (9.31%) RMBS (a) 15,679 Discounted cash flow Constant prepayment rate 3.71% - 12.82% (8.27%) Loss severity 40.73% - 75.96% (58.34%) Constant default rate 3.23% - 8.25% (5.74%) Yield 2.99% - 5.33% (4.16%) CDO/ABS (a) 5,200 Discounted cash flow Yield 3.69% - 4.99% (4.34%) CMBS 456 Discounted cash flow Yield 2.82% - 6.34% (4.58%) Liabilities: Embedded derivatives within Policyholder contract deposits: Guaranteed minimum withdrawal benefits (GMWB) 1,601 Discounted cash flow Equity volatility 6.45% - 50.55% Base lapse rate 0.35% - 14.00% Dynamic lapse multiplier 30.00% - 170.00% Mortality multiplier (c) 40.00% - 153.00% Utilization 90.00% - 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 1,517 Discounted cash flow Lapse rate 0.50% - 40.00% Mortality multiplier (c) 42.00% - 162.00% Option Budget 1.00% - 4.00% Indexed Life 554 Discounted cash flow Base lapse rate 2.00% - 19.00% Mortality rate 0.00% - 40.00% Fair Value at December 31, Valuation Range (in millions) 2017 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,620 Discounted cash flow Yield 3.55% - 4.32% (3.94%) Corporate debt 1,086 Discounted cash flow Yield 3.26% - 12.22% (7.74%) RMBS (a) 16,156 Discounted cash flow Constant prepayment rate 3.97% - 13.42% (8.69%) Loss severity 43.15% - 77.15% (60.15%) Constant default rate 3.31% - 8.30% (5.80%) Yield 2.73% - 5.19% (3.96%) CDO/ABS (a) 5,254 Discounted cash flow Yield 3.38% - 4.78% (4.08%) CMBS 487 Discounted cash flow Yield 2.22% - 7.77% (4.99%) Liabilities: Embedded derivatives within Policyholder contract deposits: GMWB 1,994 Discounted cash flow Equity volatility 6.45% - 51.25% Base lapse rate 0.35% - 14.00% Dynamic lapse multiplier 30.00% - 170.00% Mortality multiplier (c) 40.00% - 153.00% Utilization 90.00% - 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 1,603 Discounted cash flow Lapse rate 0.50% - 40.00% Mortality multiplier (c) 42.00% - 162.00% Option Budget 1.00% - 4.00% Indexed Life 515 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 inputs are shown as multipliers of the 2012 Individual Annuity Mortality Basic table.
Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share	March 31, 2018 December 31, 2017 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 $ 1,261 $ 719 $ 1,243 $ 706 Real Estate / Infrastructure Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities 238 166 210 187 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 145 133 134 73 Distressed Securities of companies that are in default, under bankruptcy protection, or troubled 109 43 113 42 Other Includes multi-strategy, mezzanine and other strategies 492 198 428 219 Total private equity funds 2,245 1,259 2,128 1,227 Hedge funds: Event-driven Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations 1,074 - 1,128 - Long-short Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk 1,196 - 1,233 - Macro Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions 1,045 - 1,011 - Distressed Securities of companies that are in default, under bankruptcy protection or troubled 170 8 266 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 204 3 231 4 Total hedge funds 3,689 11 3,869 12 Total $ 5,934 $ 1,270 $ 5,997 $ 1,239
Gains or losses related to the eligible instruments for which AIG elected the fair value option	Three Months Ended March 31, Gain (Loss) (in millions) 2018 2017 Assets: Bond and equity securities $ 23 $ 349 Alternative investments (a) 128 181 Liabilities: Long-term debt (b) 52 (15) Total gain $ 203 $ 515 (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	March 31, 2018 December 31, 2017 Outstanding Outstanding (in millions) Fair Value Principal Amount Difference Fair Value Principal Amount Difference Assets: Mortgage and other loans receivable $ - $ - $ - $ 5 $ 5 $ - Liabilities: Long-term debt * $ 2,820 $ 2,311 $ 509 $ 2,888 $ 2,280 $ 608 * 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 March 31, (in millions) Level 1 Level 2 Level 3 Total 2018 2017 March 31, 2018 Other investments $ - $ - $ 95 $ 95 $ 28 $ 17 Investments in life settlements - - - - - 41 Other assets * - - - - - 35 Total $ - $ - $ 95 $ 95 $ 28 $ 93 December 31, 2017 Other investments $ - $ - $ 55 $ 55 Investments in life settlements - - - - Other assets - - - - Total $ - $ - $ 55 $ 55 * Impairments in 2017 included $ 35 million related to other assets of $179 million that were reclassified to assets held for sale .
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 March 31, 2018 Assets: Mortgage and other loans receivable $ - $ 114 $ 38,558 $ 38,672 $ 38,540 Other invested assets - 764 6 770 767 Short-term investments - 11,522 - 11,522 11,522 Cash 2,103 - - 2,103 2,103 Liabilities: Policyholder contract deposits associated with investment-type contracts - 373 121,648 122,021 117,265 Other liabilities - 3,210 - 3,210 3,210 Long-term debt - 24,488 4,507 28,995 30,799 December 31, 2017 Assets: Mortgage and other loans receivable $ - $ 117 $ 37,644 $ 37,761 $ 37,018 Other invested assets - 590 6 596 593 Short-term investments - 7,771 - 7,771 7,771 Cash 2,362 - - 2,362 2,362 Liabilities: Policyholder contract deposits associated with investment-type contracts - 387 121,809 122,196 114,326 Other liabilities - 4,494 - 4,494 4,494 Long-term debt - 23,930 4,313 28,243 28,752

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
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 (b) March 31, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 2,764 $ 121 $ (52) $ 2,833 $ - Obligations of states, municipalities and political subdivisions 16,943 941 (73) 17,811 - Non-U.S. governments 15,350 570 (197) 15,723 - Corporate debt 127,106 6,020 (1,787) 131,339 13 Mortgage-backed, asset-backed and collateralized: RMBS 33,131 3,150 (392) 35,889 1,343 CMBS 13,558 273 (222) 13,609 29 CDO/ABS 16,500 284 (74) 16,710 26 Total mortgage-backed, asset-backed and collateralized 63,189 3,707 (688) 66,208 1,398 Total bonds available for sale (c) 225,352 11,359 (2,797) 233,914 1,411 December 31, 2017 Bonds available for sale: U.S. government and government sponsored entities $ 2,532 $ 160 $ (36) $ 2,656 $ - Obligations of states, municipalities and political subdivisions 17,377 1,297 (30) 18,644 - Non-U.S. governments 15,059 717 (117) 15,659 - Corporate debt 126,310 8,666 (800) 134,176 17 Mortgage-backed, asset-backed and collateralized: RMBS 34,181 3,273 (220) 37,234 1,568 CMBS 13,538 408 (105) 13,841 42 CDO/ABS 16,464 370 (52) 16,782 29 Total mortgage-backed, asset-backed and collateralized 64,183 4,051 (377) 67,857 1,639 Total bonds available for sale (c) 225,461 14,891 (1,360) 238,992 1,656 Equity securities available for sale: Common stock 703 379 (21) 1,061 - Preferred stock 504 29 - 533 - Mutual funds 98 16 - 114 - Total equity securities available for sale 1,305 424 (21) 1,708 - Total $ 226,766 $ 15,315 $ (1,381) $ 240,700 $ 1,656 (a) As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, equity securities are no longer classified and accounted for as available for sale securities. (b) Represents the amount of other-than-temporary impairments 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 subseque nt to the impairment measurement date. (c) At March 31, 2018 and December 31, 2017 , bonds available for sale held by us that were below investment grade or not rated totaled $ 30.4 bi llion and $ 31.5 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 March 31, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 1,097 $ 25 $ 529 $ 27 $ 1,626 $ 52 Obligations of states, municipalities and political subdivisions 2,010 36 599 37 2,609 73 Non-U.S. governments 5,825 127 893 70 6,718 197 Corporate debt 38,072 1,263 6,701 524 44,773 1,787 RMBS 7,716 206 3,349 186 11,065 392 CMBS 6,105 133 1,347 89 7,452 222 CDO/ABS 3,127 34 831 40 3,958 74 Total bonds available for sale $ 63,952 $ 1,824 $ 14,249 $ 973 $ 78,201 $ 2,797 December 31, 2017 Bonds available for sale: U.S. government and government sponsored entities $ 770 $ 23 $ 332 $ 13 $ 1,102 $ 36 Obligations of states, municipalities and political subdivisions 586 6 646 24 1,232 30 Non-U.S. governments 3,511 54 857 63 4,368 117 Corporate debt 15,578 453 7,291 347 22,869 800 RMBS 6,212 99 3,790 121 10,002 220 CMBS 3,408 46 1,389 59 4,797 105 CDO/ABS 1,455 24 822 28 2,277 52 Total bonds available for sale 31,520 705 15,127 655 46,647 1,360 Equity securities available for sale: Common stock 136 21 - - 136 21 Mutual funds 1 - - - 1 - Total equity securities available for sale 137 21 - - 137 21 Total $ 31,657 $ 726 $ 15,127 $ 655 $ 46,784 $ 1,381 (a) As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, equity securities are no longer classified and accounted for as available for sale securities.
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 March 31, 2018 Due in one year or less $ 8,393 $ 8,524 $ 1,881 $ 1,872 Due after one year through five years 46,987 48,261 11,548 11,232 Due after five years through ten years 42,637 42,973 22,337 21,507 Due after ten years 64,146 67,948 22,069 21,115 Mortgage-backed, asset-backed and collateralized 63,189 66,208 23,163 22,475 Total $ 225,352 $ 233,914 $ 80,998 $ 78,201 December 31, 2017 Due in one year or less $ 7,932 $ 8,071 $ 1,526 $ 1,515 Due after one year through five years 47,179 49,093 7,764 7,571 Due after five years through ten years 42,617 43,944 11,559 11,143 Due after ten years 63,550 70,027 9,705 9,342 Mortgage-backed, asset-backed and collateralized 64,183 67,857 17,453 17,076 Total $ 225,461 $ 238,992 $ 48,007 $ 46,647
The gross realized gains and gross realized losses from sales of AIG's available for sale securities	2018 2017 Gross Gross Gross Gross Three Months Ended March 31, Realized Realized Realized Realized (in millions) Gains Losses Gains Losses Fixed maturity securities $ 70 $ 60 $ 333 $ 178 Equity securities 16 - 17 16 Total $ 86 $ 60 $ 350 $ 194
The fair value of AIG's other securities	March 31, 2018 December 31, 2017 Fair Percent Fair Percent (in millions) Value of Total Value of Total Fixed maturity securities: U.S. government and government sponsored entities $ 2,777 20 % $ 2,802 21 % Non-U.S. governments 54 - 57 1 Corporate debt 1,803 13 1,909 14 Mortgage-backed, asset-backed and collateralized : RMBS 1,818 13 1,885 14 CMBS 566 4 559 4 CDO/ABS and other collateralized * 5,379 38 5,560 42 Total mortgage-backed, asset-backed and collateralized 7,763 55 8,004 60 Total fixed maturity securities 12,397 88 12,772 96 Equity securities 1,725 12 589 4 Total $ 14,122 100 % $ 13,361 100 % * Includes $ 220 million and $ 251 million of U.S. g overnment agency-backed ABS at March 31, 2018 and December 31, 2017 , respectively.
Components of other invested assets	March 31, December 31, (in millions) 2018 2017 Alternative investments (a) (b) $ 11,125 $ 11,308 Investment real estate (c) 8,636 8,258 Aircraft asset investments (d) 201 206 All other investments 1,221 1,050 Total $ 21,183 $ 20,822 (a) At March 31, 2018 , include d hedge funds of $ 5.5 billion, private equity funds of $ 5.2 billion, and affordable housing partnerships of $ 483 million. At December 31, 2017 , include d hedge funds of $ 5.8 billion, private equity funds of $ 5.0 billion, and affordable housing partnerships of $ 543 million. (b) Approximately 69 perce nt of our hedge fund portfolio is available for redemption in 2018, an additional 31 percent will be available between 2019 and 2027 . (c) Net of accumulated depreciation of $ 556 million and $ 515 million in March 31, 2018 and December 31, 2017 , respectively. (d) Consists of investments in aircraft equipment held in a consolidated trust.
Components of net investment income	Three Months Ended March 31, (in millions) 2018 2017 Available for sale fixed maturity securities, including short-term investments $ 2,610 $ 2,667 Other fixed maturity securities (21) 134 Equity securities (a) (32) 5 Interest on mortgage and other loans 450 393 Alternative investments (b) 337 448 Real estate 31 49 Other investments 10 116 Total investment income 3,385 3,812 Investment expenses 124 126 Net investment income $ 3,261 $ 3,686 (a) Upon the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018 , the change in fair value of all equity securities is included in Net Investment Income . (b) 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 g enerally reported on a one-quarter lag.
Components of net realized capital gains (losses)	Three Months Ended March 31, (in millions) 2018 2017 Sales of fixed maturity securities $ 10 $ 155 Sales of equity securities 16 1 Other-than-temporary impairments: Severity - - Change in intent (49) (1) Foreign currency declines (6) (10) Issuer-specific credit events (32) (57) Adverse projected cash flows - - Provision for loan losses (24) 6 Foreign exchange transactions 53 159 Variable annuity embedded derivatives, net of related hedges 147 (389) All other derivatives and hedge accounting (225) 13 Impairments on investments in life settlements - (41) Other 91 49 Net realized capital losses $ (19) $ (115)
Schedule of increase (decrease) in unrealized appreciation (depreciation) of available for sale securities and other investments	The following table presents the increase (decrease) in unrealized appreciation (depreciation) of our available for sale securities and other investments: Three Months Ended March 31, (in millions) 2018 2017 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ (4,969) $ 773 Equity securities (a) - 114 Other investments (25) (54) Total increase (decrease) in unrealized appreciation (depreciation) of investments (b) $ (4,994) $ 833 (a) As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, equity securities are no longer classified and accounted for as available for sale securities. (b) Excludes net unrealized losses attributable to businesses held for sale. The following table summarizes the unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date* : Three Months Ended March 31, 2018 Other Invested (in millions) Equities Assets Total Net gains and losses recognized during the period on equity securities $ (31) $ 192 $ 161 Less: Net gains and losses recognized during the period on equity securities sold during the period (8) (1) (9) Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ (23) $ 193 $ 170 * The table includes a gain of $72 million in Other Invested Assets and a loss of $3 1 million in Equities recorded during the three-month period ended March 31, 2018, as a result of the new Financial Instruments Recognition and Measurement Standard .
Credit impairments recognized in earnings for available for sale fixed maturity securities	Three Months Ended March 31, (in millions) 2018 2017 Balance, beginning of year $ 526 $ 1,098 Increases due to: Credit impairments on new securities subject to impairment losses 14 17 Additional credit impairments on previously impaired securities 17 30 Reductions due to: Credit impaired securities fully disposed for which there was no prior intent or requirement to sell (51) (11) Accretion on securities previously impaired due to credit * (148) (188) Balance, end of period $ 358 $ 946 * 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) $ 36,711 Cash flows expected to be collected * 30,121 Recorded investment in acquired securities 20,334 * Represents undiscounted expect ed cash flows, including both principal and interes t .
Schedule of Purchased Credit Impaired (PCI) Securities, at reporting date	(in millions) March 31, 2018 December 31, 2017 Outstanding principal balance $ 14,253 $ 14,718 Amortized cost 10,141 10,492 Fair value 11,977 12,293
Activity for accretable yield on Purchased Credit Impaired (PCI) Securities	Three Months Ended March 31, (in millions) 2018 2017 Balance, beginning of period $ 7,501 $ 7,498 Newly purchased PCI securities 23 88 Disposals - (18) Accretion (187) (210) Effect of changes in interest rate indices 206 21 Net reclassification from (to) non-accretable difference, including effects of prepayments 58 214 Balance, end of period $ 7,601 $ 7,593
Schedule of fair value of securities pledged to counterparties under secured financing transactions	(in millions) March 31, 2018 December 31, 2017 Fixed maturity securities available for sale $ 1,767 $ 2,911 Other bond securities, at fair value $ 1,381 $ 1,585
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 March 31, 2018 Bonds available for sale: Non-U.S. governments $ - $ 94 $ 18 $ - $ - $ 112 Corporate debt - 34 6 - - 40 Other bond securities: U.S. government and government sponsored entities 15 - - - - 15 Non-U.S. governments - - 3 - - 3 Corporate debt - 93 18 - - 111 Total $ 15 $ 221 $ 45 $ - $ - $ 281 December 31, 2017 Bonds available for sale: Non-U.S. governments $ - $ 7 $ 19 $ - $ - $ 26 Corporate debt - 13 35 - - 48 Other bond securities: U.S. government and government sponsored entities 44 - - - - 44 Non-U.S. governments - - 11 - - 11 Corporate debt - 387 1,065 - - 1,452 Total $ 44 $ 407 $ 1,130 $ - $ - $ 1,581 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 March 31, 2018 Bonds available for sale: Non-U.S. governments $ - $ - $ 32 $ 5 $ - $ 37 Corporate debt - 235 1,224 119 - 1,578 Other bond securities: Non-U.S. governments - - 7 - - 7 Corporate debt - 175 995 75 - 1,245 Total $ - $ 410 $ 2,258 $ 199 $ - $ 2,867 December 31, 2017 Bonds available for sale: Non-U.S. governments $ - $ - $ 18 $ - $ - $ 18 Corporate debt - 588 2,231 - - 2,819 Other bond securities: Non-U.S. governments - - 22 - - 22 Corporate debt - - 56 - - 56 Total $ - $ 588 $ 2,327 $ - $ - $ 2,915
Schedule of fair value of securities pledged to the entity under reverse repurchase agreements	(in millions) March 31, 2018 December 31, 2017 Securities collateral pledged to us $ 5,020 $ 2,227 Amount sold or repledged by us $ 97 $ 46

LENDING ACTIVITIES (Tables)

LENDING ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2018
LENDING ACTIVITIES
Composition of Mortgages and other loans receivable	March 31, December 31, (in millions) 2018 2017 Commercial mortgages * $ 29,699 $ 28,596 Residential mortgages 5,811 5,398 Life insurance policy loans 2,203 2,295 Commercial loans, other loans and notes receivable 1,174 1,056 Total mortgage and other loans receivable 38,887 37,345 Allowance for credit losses (347) (322) Mortgage and other loans receivable, net $ 38,540 $ 37,023 * Commercial mortgages primarily represent loans for apartments, offices and retail properties, with exposures in New York and California representing the largest geographic concentrations ( aggregating approximately 22 percent and 11 percent , respectively, at March 31, 2018 , and 23 percent and 12 percent , respectively, at December 31, 2017 ) .
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 March 31, 2018 Loan-to-Value Ratios (b) Less than 65% $ 17,506 $ 2,121 $ 349 $ 19,976 65% to 75% 7,240 192 179 7,611 76% to 80% 943 - - 943 Greater than 80% 885 211 73 1,169 Total commercial mortgages $ 26,574 $ 2,524 $ 601 $ 29,699 December 31, 2017 Loan-to-Value Ratios (b) Less than 65% $ 18,000 $ 1,525 $ 351 $ 19,876 65% to 75% 6,038 193 184 6,415 76% to 80% 569 40 - 609 Greater than 80% 1,416 206 74 1,696 Total commercial mortgages $ 26,023 $ 1,964 $ 609 $ 28,596 (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 2.1 X at March 31, 2018 and December 31, 2017 , 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 61 percent and 57 percent at March 31, 2018 , and December 31, 2017 , respectively .
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 $ March 31, 2018 Credit Quality Performance Indicator: In good standing 775 $ 8,790 $ 8,633 $ 5,190 $ 2,573 $ 2,365 $ 1,994 $ 29,545 99 % Restructured (a) 5 - 115 23 - 16 - 154 1 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 780 $ 8,790 $ 8,748 $ 5,213 $ 2,573 $ 2,381 $ 1,994 $ 29,699 100 % Allowance for credit losses: Specific $ - $ 3 $ 20 $ - $ 1 $ - $ 24 - % General 79 95 34 9 16 17 250 1 Total allowance for credit losses $ 79 $ 98 $ 54 $ 9 $ 17 $ 17 $ 274 1 % December 31, 2017 Credit Quality Performance Indicator: In good standing 778 $ 8,163 $ 8,585 $ 5,338 $ 2,023 $ 2,373 $ 1,960 $ 28,442 99 % Restructured (a) 5 - 115 23 - 16 - 154 1 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 783 $ 8,163 $ 8,700 $ 5,361 $ 2,023 $ 2,389 $ 1,960 $ 28,596 100 % Allowance for credit losses: Specific $ - $ 3 $ 1 $ - $ 1 $ - $ 5 - % General 72 94 37 6 15 18 242 1 Total allowance for credit losses $ 72 $ 97 $ 38 $ 6 $ 16 $ 18 $ 247 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 201 7 Annual Report. (b) Does not reflect a llowance for credit l osses . (c) Our commercial mortgage loan portfolio is current as to payments of principal and interes t, for both periods presented. There were no significant amounts of nonperforming commercial mortgages (defined as those loans where payment of contractual principal or interest is more 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	2018 2017 Three Months Ended March 31, Commercial Other Commercial Other (in millions) Mortgages Loans Total Mortgages Loans Total Allowance, beginning of year $ 247 $ 75 $ 322 $ 194 $ 103 $ 297 Loans charged off - - - - - - Recoveries of loans previously charged off - - - - - - Net charge-offs - - - - - - Provision for loan losses 27 (2) 25 13 (21) (8) Other - - - - - - Allowance, end of period $ 274 * $ 73 $ 347 $ 207 * $ 82 $ 289 * Of the total allowance , $ 23 million and $ 7 million relate to individually assessed credit losses on $ 82 million and $ 266 million of commercial mortgages at March 31, 2018 and 2017 , respectively.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	3 Months Ended
	Mar. 31, 2018
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) Affordable Housing Partnerships Other Total March 31, 2018 Assets: Bonds available for sale $ - $ 8,484 $ - $ - $ 8,484 Other bond securities - 4,349 - 3 4,352 Mortgage and other loans receivable - 2,759 - - 2,759 Other invested assets 1,413 201 3,314 25 4,953 Other (a) 308 1,492 309 84 2,193 Total assets (b) $ 1,721 $ 17,285 $ 3,623 $ 112 $ 22,741 Liabilities: Long-term debt $ 741 $ 1,965 $ 1,969 $ 5 $ 4,680 Other (c) 135 164 187 25 511 Total liabilities $ 876 $ 2,129 $ 2,156 $ 30 $ 5,191 December 31, 2017 Assets: Bonds available for sale $ - $ 9,632 $ - $ - $ 9,632 Other bond securities - 4,518 - 3 4,521 Mortgage and other loans receivable - 2,290 - - 2,290 Other invested assets 1,365 206 3,087 25 4,683 Other (a) 302 1,481 350 85 2,218 Total assets (b) $ 1,667 $ 18,127 $ 3,437 $ 113 $ 23,344 Liabilities: Long-term debt $ 680 $ 1,624 $ 1,825 $ 5 $ 4,134 Other (c) 144 244 181 26 595 Total liabilities $ 824 $ 1,868 $ 2,006 $ 31 $ 4,729 (a) Comprised primarily of Short-term investments and Other assets at March 31, 2018 and December 31, 2017 . (b) The assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other liabilities at March 31, 2018 and December 31, 2017 . (d) At March 31, 2018 and December 31, 2017 , off-balance sheet exposure primarily consisting of commitments to real estate and investme nt entities was $ 133 million and $ 86 m illion, respectively. (e) At March 31, 2018 and December 31, 2017 , $ 16.7 billion and $ 17.6 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 March 31, 2018 Real estate and investment entities (a) $ 371,105 $ 9,054 $ 1,988 $ 11,042 Affordable housing partnerships 4,146 669 - 669 Other 2,908 219 1,203 (c) 1,422 Total $ 378,159 $ 9,942 $ 3,191 $ 13,133 December 31, 2017 Real estate and investment entities (a) $ 380,030 $ 9,253 $ 2,043 $ 11,296 Affordable housing partnerships 4,468 725 - 725 Other 2,703 254 1,205 (c) 1,459 Total $ 387,201 $ 10,232 $ 3,248 $ 13,480 (a) Comprised primarily of hedge funds and private equity funds. (b) At March 31, 2018 and December 31, 2017 , $ 9.6 billion and $ 9.8 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 ACCOUNT33

DERIVATIVES AND HEDGE ACCOUNTING (Tables)	3 Months Ended
	Mar. 31, 2018
DERIVATIVES AND HEDGE ACCOUNTING
Notional amounts and fair values of derivative instruments	March 31, 2018 December 31, 2017 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 $ 10 $ - $ 866 $ 21 $ - $ - $ 838 $ 15 Foreign exchange contracts 3,236 122 4,511 350 2,823 173 4,783 350 Equity contracts - - - - - - 159 19 Derivatives not designated as hedging instruments: (a) Interest rate contracts 42,688 2,549 26,505 2,182 37,751 2,171 26,461 2,185 Foreign exchange contracts 8,471 673 11,543 867 6,305 658 11,093 895 Equity contracts 15,465 268 4,261 13 19,975 522 1,130 2 Credit contracts (b) 9 2 1,412 264 4 1 1,365 277 Other contracts (c) 38,518 17 59 5 39,829 20 59 5 Total derivatives, gross $ 108,397 $ 3,631 $ 49,157 $ 3,702 $ 106,687 $ 3,545 $ 45,888 $ 3,748 Counterparty netting (d) (1,589) (1,589) (1,464) (1,464) Cash collateral (e) (1,268) (980) (1,159) (1,249) Total derivatives on condensed consolidated balance sheets (f) $ 774 $ 1,133 $ 922 $ 1,035 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b ) As of March 31, 2018 and December 31, 2017 , included CDSs on super senior multi-sector CDOs with a net notional amount of $ 661 million and $ 685 million (fair value liability of $ 245 million and $ 254 million), respectively. The expected weighted average maturity as of March 31, 2018 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 March 31, 2018 and December 31, 2017 , 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 March 31, 2018 and December 31, 2 017 . Fair value of liabilities related to bifurcated Embedded derivatives was $ 3.7 billion and $ 4.1 billion, respectively, at March 31, 2018 and December 31, 2017 . A bifurcated Embedded d erivative 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 March 31, 2018 Interest rate contracts : Realized capital gains/(losses) $ (8) $ 9 $ 1 $ - $ - Foreign exchange contracts : Realized capital gains/(losses) (41) 8 - (33) - Other income - - - - - Equity contracts : Realized capital gains/(losses) - - - - - Three Months Ended March 31, 2017 Interest rate contracts : Realized capital gains/(losses) $ (1) $ 1 $ - $ - $ - Foreign exchange contracts : Realized capital gains/(losses) 52 (42) - 10 - Other income - 1 - - 1 Equity contracts Realized capital gains/(losses) (2) - - (2) - (a) The amounts presented do not include the periodic net coupon settlements of the derivative contract or the coupon income (expense) related to the hedged item. (b) Represents accretion/amortization of opening fair value of the hedged item at inception of hedge relationship, amortization of basis adjustment on hedged item following the discontinuation of hedge accounting, and the release of debt basis adjustment following the repurchase of issued debt that was part of 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) Three Months Ended March 31, Recognized in Earnings (in millions) 2018 2017 By Derivative Type: Interest rate contracts $ (398) $ (152) Foreign exchange contracts (139) (46) Equity contracts (73) (314) Credit contracts 11 15 Other contracts 17 18 Embedded derivatives 591 146 Total $ 9 $ (333) By Classification: Policy fees $ 17 $ 20 Net investment income (4) (2) Net realized capital losses (13) (384) Other income 12 33 Policyholder benefits and claims incurred (3) - Total $ 9 $ (333)

INSURANCE LIABILITIES (Tables)

INSURANCE LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2018
Claims Development [Line Items]
Schedule of reconciliation of activity in the liability for unpaid claims and claims adjustment expense	The following table presents the roll-forwar d of activity in Loss Reserves: Three Months Ended March 31, (in millions) 2018 2017 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 78,393 $ 77,077 Reinsurance recoverable (26,708) (15,532) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 51,685 61,545 Losses and loss adjustment expenses incurred : Current year 4,698 4,300 Prior years, excluding discount and amortization of deferred gain (40) 63 Prior years, discount charge (benefit) (205) (25) Prior years, amortization of deferred gain on retroactive reinsurance (39) (38) Total losses and loss adjustment expenses incurred 4,414 4,300 Losses and loss adjustment expenses paid : Current year (610) (571) Prior years (4,779) (4,753) Total losses and loss adjustment expenses paid (5,389) (5,324) Other changes : Foreign exchange effect 274 (105) Retroactive reinsurance adjustment (net of discount) (a) (97) (11,199) Reclassified to liabilities held for sale (b) - (87) Total other changes 177 (11,391) Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 50,887 49,130 Reinsurance recoverable 27,211 26,920 Total $ 78,098 $ 76,050 ( a ) Includes discount on retroactive reinsurance in the amount of $128 million and $1.7 billion for the three -month periods ended March 3 1 , 2018 and 2017, respectively . (b) Represents change in loss reserves included in our sale of certain of our insurance operations to Fairfax Financial Holdings Limited ( Fairfax ) for the three -month period ended March 3 1 , 2017. Up on consummation of the sale, we retain ed a portion of these reserves through reinsurance arrangements.
Schedule of loss reserve discount and loss reserve discount benefit (charge)	The followi ng table presents the components o f the loss reserve discount discussed above: March 31, 2018 December 31, 2017 North Legacy Portfolio North Legacy Portfolio America - General America - General Commercial Insurance run-off Commercial Insurance run-off (in millions) Insurance Insurance Lines Total Insurance Insurance Lines Total U.S. workers' compensation $ 2,652 $ 936 $ 3,588 $ 2,465 $ 918 $ 3,383 Retroactive reinsurance (1,667) - (1,667) (1,539) - (1,539) Total reserve discount * $ 985 $ 936 $ 1,921 $ 926 $ 918 $ 1,844 * Excludes $ 177 million and $173 million of discount related to certain long tail liabilities in the United Kingdom at March 31, 2018 and December 31, 2017 , respectively. The following table s present s the net los s reserve discount benefit (charge) : Three Months Ended March 31, 2018 2017 North Legacy Portfolio North Legacy Portfolio America - General America - General Commercial Insurance run-off Commercial Insurance run-off (in millions) Insurance Insurance Lines Total Insurance Insurance Lines Total Current accident year $ 19 $ - $ 19 $ 32 $ - $ 32 Accretion and other adjustments to prior year discount 45 (18) 27 (48) (16) (64) Effect of interest rate changes 123 36 159 39 18 57 Net reserve discount benefit (charge) 187 18 205 23 2 25 Change in discount on loss reserves ceded under retroactive reinsurance (128) - (128) (1,655) - (1,655) Net change in total reserve discount (a) $ 59 $ 18 $ 77 $ (1,632) $ 2 $ (1,630) (a) Excludes $(5) million and $(1) million of discount related to certain long tail liabilities in the United Kingdom for the three-month periods ended March 31, 2018 and 2017, respectively. During the first quarter s of 2018 and 2017, effective interest rates increased due to an increase in the forward yield curve component of the discount rates reflecting an incline in U.S. Treasury rates along with the changes in payout pattern assumptions. This resulted in an incre ase in the loss reserve discount by $159 million in first quarter 2018 and $57 million in first quarter 2017.

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Mar. 31, 2018
EQUITY
Rollforward of common stock outstanding	Three Months Ended March 31, 2018 Common Treasury Common Stock Stock Issued Stock Outstanding Shares, beginning of year 1,906,671,492 (1,007,626,835) 899,044,657 Shares issued - 4,021,554 4,021,554 Shares repurchased - (5,384,703) (5,384,703) Shares, end of period 1,906,671,492 (1,008,989,984) 897,681,508
Dividends Paid	The f ollowing table presents record date, payment date and dividends paid per share on AIG Common Stock: Dividends Paid Record Date Payment Date Per Share March 15, 2018 March 29, 2018 0.32 March 15, 2017 March 29, 2017 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: Three Months Ended March 31, (in millions) 2018 2017 Aggregate repurchases of common stock $ 298 $ 3,585 Total number of common shares repurchased 5 56 Aggregate repurchases of warrants $ 2 $ - Total number of warrants repurchased * - - * For the three-month period ended March 31, 2018, we repurchased 97,553 warrants to purchase shares of AIG Common Stock.
Accumulated Other Comprehensive Income (Loss)	Unrealized Appreciation Fair Value of (Depreciation) of Fixed Unrealized Liabilities Under Maturity Securities on Appreciation Foreign Retirement Fair Value Option Which Other-Than- (Depreciation) Currency Plan Attributable to Temporary Credit of All Other Translation Liabilities Changes in (in millions) Impairments Were Taken Investments Adjustments Adjustment Own Credit Risk Total Balance, December 31, 2017, net of tax $ 793 $ 7,693 $ (2,090) $ (931) $ - $ 5,465 Cumulative effect of change in accounting principles 169 (285) (284) (183) 7 (576) Change in unrealized depreciation of investments (240) (4,754) - - - (4,994) Change in deferred policy acquisition costs adjustment and other 30 634 - - - 664 Change in future policy benefits - 741 - - - 741 Change in foreign currency translation adjustments - - 172 - - 172 Change in net actuarial loss - - - 16 - 16 Change in prior service credit - - - (4) - (4) Change in deferred tax asset (liability) 60 671 (14) 17 - 734 Change in fair value of liabilities under fair value option attributable to changes in own credit risk - - - - 2 2 Total other comprehensive income (loss) (150) (2,708) 158 29 2 (2,669) Noncontrolling interests - - - - - - Balance, March 31, 2018, net of tax $ 812 $ 4,700 $ (2,216) $ (1,085) $ 9 $ 2,220 Balance, December 31, 2016, net of tax $ 426 $ 6,405 $ (2,629) $ (972) $ - $ 3,230 Change in unrealized appreciation of investments 143 690 - - - 833 Change in deferred policy acquisition costs adjustment and other * 32 38 - - - 70 Change in future policy benefits - (86) - - - (86) Change in foreign currency translation adjustments - - (304) - - (304) Change in net actuarial loss - - - 25 - 25 Change in prior service cost - - - 3 - 3 Change in deferred tax asset (liability) (61) 53 28 (10) - 10 Total other comprehensive income (loss) 114 695 (276) 18 - 551 Noncontrolling interests - - - - - - Balance, March 31, 2017, net of tax $ 540 $ 7,100 $ (2,905) $ (954) $ - $ 3,781 * In cludes net unrealized gains attributable to businesses held for sale.
Other comprehensive income (loss) reclassification adjustments	Unrealized Appreciation (Depreciation) of Fixed Fair Value of Maturity Investments Unrealized Liabilities Under on Which Other-Than- Appreciation Foreign Retirement Fair Value Option Temporary Credit (Depreciation) Currency Plan Attributable to Impairments Were of All Other Translation Liabilities Changes in (in millions) Recognized Investments Adjustments Adjustment Own Credit Risk Total March 31, 2018 Unrealized change arising during period $ (208) $ (3,386) $ 172 $ 3 $ 2 $ (3,417) Less: Reclassification adjustments included in net income 2 (7) - (9) - (14) Total other comprehensive income (loss), before income tax expense (benefit) (210) (3,379) 172 12 2 (3,403) Less: Income tax expense (benefit) (60) (671) 14 (17) - (734) Total other comprehensive income (loss), net of income tax expense (benefit) $ (150) $ (2,708) $ 158 $ 29 $ 2 $ (2,669) March 31, 2017 Unrealized change arising during period $ 190 $ 835 $ (304) $ 18 $ - $ 739 Less: Reclassification adjustments included in net income 15 193 - (10) - 198 Total other comprehensive income (loss), before income tax expense (benefit) 175 642 (304) 28 - 541 Less: Income tax expense (benefit) 61 (53) (28) 10 - (10) Total other comprehensive income (loss), net of income tax expense (benefit) $ 114 $ 695 $ (276) $ 18 $ - $ 551
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 Three Months Ended March 31, Affected Line Item in the (in millions) 2018 2017 Condensed Consolidated Statements of Income Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 2 $ 15 Other realized capital gains Total 2 15 Unrealized appreciation (depreciation) of all other investments Investments 24 140 Other realized capital gains Deferred acquisition costs adjustment (31) 53 Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total (7) 193 Change in retirement plan liabilities adjustment Prior-service credit - - * Actuarial losses (9) (10) * Total (9) (10) Total reclassifications for the period $ (14) $ 198 * These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 13 to the Condensed Consolidated Financial Statements .

EARNINGS PER SHARE (EPS) (Table

EARNINGS PER SHARE (EPS) (Tables)	3 Months Ended
	Mar. 31, 2018
EARNINGS PER SHARE (EPS)
Computation of basic and diluted EPS	Three Months Ended March 31, (dollars in millions, except per share data) 2018 2017 Numerator for EPS: Income from continuing operations $ 950 $ 1,211 Less: Net income from continuing operations attributable to noncontrolling interests 11 26 Income attributable to AIG common shareholders from continuing operations 939 1,185 Income (loss) from discontinued operations, net of income tax expense (1) - Net income attributable to AIG common shareholders $ 938 $ 1,185 Denominator for EPS: Weighted average shares outstanding — basic 907,951,597 980,777,243 Dilutive shares 17,314,980 24,537,787 Weighted average shares outstanding — diluted (a) 925,266,577 1,005,315,030 Income per common share attributable to AIG: Basic: Income from continuing operations $ 1.03 $ 1.21 Income from discontinued operations $ - $ - Net income attributable to AIG $ 1.03 $ 1.21 Diluted: Income from continuing operations $ 1.01 $ 1.18 Income (loss) from discontinued operations $ - $ - Net income attributable to AIG $ 1.01 $ 1.18 (a) Dilutive shares include d our share - based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011. The number of shares excluded from diluted shares outstanding was 0.7 milli on and 1.8 mi llion for the three - month periods ended March 31, 2018 and 2017 , respectively , because the effect of including those shares in the calculation would h ave been anti-dilutive.

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 Components of net periodic benefit cost: Service cost $ 2 $ 6 $ 8 $ - $ - $ - Interest cost 41 4 45 2 - 2 Expected return on assets (71) (7) (78) - - - Amortization of prior service cost - 1 1 - - - Amortization of net loss 7 2 9 - - - Net periodic benefit cost (credit) $ (21) $ 6 $ (15) $ 2 $ - $ 2 Three Months Ended March 31, 2017 Components of net periodic benefit cost: Service cost $ 6 $ 8 $ 14 $ - $ 1 $ 1 Interest cost 43 4 47 2 1 3 Expected return on assets (64) (6) (70) - - - Amortization of prior service cost - - - - - - Amortization of net loss 7 3 10 - - - Net periodic benefit cost (credit) $ (8) $ 9 $ 1 $ 2 $ 2 $ 4

INFORMATION PROVIDED IN CONNE38

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 Assets: Short-term investments (a) $ 6,031 $ - $ 11,764 $ (3,179) $ 14,616 Other investments (b) 4,814 - 302,945 - 307,759 Total investments 10,845 - 314,709 (3,179) 322,375 Cash 4 5 2,094 - 2,103 Loans to subsidiaries (c) 34,747 - 579 (35,326) - Investment in consolidated subsidiaries (c) 37,224 28,741 - (65,965) - Other assets, including deferred income taxes (d) 15,932 166 160,755 (2,188) 174,665 Total assets $ 98,752 $ 28,912 $ 478,137 $ (106,658) $ 499,143 Liabilities: Insurance liabilities $ - $ - $ 284,657 $ - $ 284,657 Long-term debt 23,038 642 9,939 - 33,619 Other liabilities, including intercompany balances (b) 12,343 133 110,443 (5,409) 117,510 Loans from subsidiaries (c) 579 - 34,749 (35,328) - Total liabilities 35,960 775 439,788 (40,737) 435,786 Total AIG shareholders’ equity 62,792 28,137 37,784 (65,921) 62,792 Non-redeemable noncontrolling interests - - 565 - 565 Total equity 62,792 28,137 38,349 (65,921) 63,357 Total liabilities and equity $ 98,752 $ 28,912 $ 478,137 $ (106,658) $ 499,143 December 31, 2017 Assets: Short-term investments (a) $ 2,541 $ - $ 11,559 $ (3,714) $ 10,386 Other investments (b) 6,004 - 305,902 - 311,906 Total investments 8,545 - 317,461 (3,714) 322,292 Cash 3 20 2,339 - 2,362 Loans to subsidiaries (c) 35,004 - 517 (35,521) - Investment in consolidated subsidiaries (c) 40,135 30,359 - (70,494) - Other assets, including deferred income taxes (d) 16,016 170 159,594 (2,133) 173,647 Total assets $ 99,703 $ 30,549 $ 479,911 $ (111,862) $ 498,301 Liabilities: Insurance liabilities $ - $ - $ 282,105 $ - $ 282,105 Long-term debt 21,557 642 9,441 - 31,640 Other liabilities, including intercompany balances (b) 12,458 143 112,275 (6,028) 118,848 Loans from subsidiaries (c) 517 - 35,004 (35,521) - Total liabilities 34,532 785 438,825 (41,549) 432,593 Total AIG shareholders’ equity 65,171 29,764 40,549 (70,313) 65,171 Non-redeemable noncontrolling interests - - 537 - 537 Total equity 65,171 29,764 41,086 (70,313) 65,708 Total liabilities and equity $ 99,703 $ 30,549 $ 479,911 $ (111,862) $ 498,301 (a) At March 31, 2018 , includes restricted cash of $ 15 million and $ 32 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2017 , includes restricted cash of $ 4 million and $ 54 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. (b) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment. ( c ) Eliminated in consolidation . (d) At March 31, 2018 , includes restricted cash of $ 1 million and $ 220 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2017 , includes restricted cash of $ 1 million and $ 316 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively .
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 March 31, 2018 Revenues: Equity in earnings of consolidated subsidiaries * $ 1,033 $ 722 $ - $ (1,755) $ - Other income 258 - 11,512 (58) 11,712 Total revenues 1,291 722 11,512 (1,813) 11,712 Expenses: Interest expense 220 12 48 (3) 277 Gain on extinguishment of debt - - 4 - 4 Other expenses 152 1 10,106 (55) 10,204 Total expenses 372 13 10,158 (58) 10,485 Income (loss) from continuing operations before income tax expense (benefit) 919 709 1,354 (1,755) 1,227 Income tax expense (benefit) (19) 3 293 - 277 Income (loss) from continuing operations 938 706 1,061 (1,755) 950 Loss from discontinued operations, net of income taxes - - (1) - (1) Net income (loss) 938 706 1,060 (1,755) 949 Less: Net income (loss) from continuing operations attributable to noncontrolling interests - - 11 - 11 Net income (loss) attributable to AIG $ 938 $ 706 $ 1,049 $ (1,755) $ 938 Three Months Ended March 31, 2017 Revenues: Equity in earnings of consolidated subsidiaries * $ 1,462 $ 600 $ - $ (2,062) $ - Other income 196 - 12,382 54 12,632 Total revenues 1,658 600 12,382 (2,008) 12,632 Expenses: Interest expense 242 12 46 (2) 298 Loss on extinguishment of debt - - (1) - (1) Other expenses 335 1 10,325 (53) 10,608 Total expenses 577 13 10,370 (55) 10,905 Income (loss) from continuing operations before income tax expense (benefit) 1,081 587 2,012 (1,953) 1,727 Income tax expense (benefit) (104) (4) 624 - 516 Income (loss) from continuing operations 1,185 591 1,388 (1,953) 1,211 Net income (loss) 1,185 591 1,388 (1,953) 1,211 Less: Net income (loss) from continuing operations attributable to noncontrolling interests - - 26 - 26 Net income (loss) attributable to AIG $ 1,185 $ 591 $ 1,362 $ (1,953) $ 1,185 * 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 March 31, 2018 Net income (loss) $ 938 $ 706 $ 1,060 $ (1,755) $ 949 Other comprehensive income (loss) (2,669) 4,950 14,655 (19,605) (2,669) Comprehensive income (loss) (1,731) 5,656 15,715 (21,360) (1,720) Total comprehensive income attributable to noncontrolling interests - - 11 - 11 Comprehensive income (loss) attributable to AIG $ (1,731) $ 5,656 $ 15,704 $ (21,360) $ (1,731) Three Months Ended March 31, 2017 Net income (loss) $ 1,185 $ 591 $ 1,388 $ (1,953) $ 1,211 Other comprehensive income (loss) 551 4,660 51,030 (55,690) 551 Comprehensive income (loss) 1,736 5,251 52,418 (57,643) 1,762 Total comprehensive income attributable to noncontrolling interests - - 26 - 26 Comprehensive income (loss) attributable to AIG $ 1,736 $ 5,251 $ 52,392 $ (57,643) $ 1,736
Condensed Consolidating Statements of Cash Flows	American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG Three Months Ended March 31, 2018 Net cash (used in) provided by operating activities $ 9 $ 362 $ (501) $ (808) $ (938) Cash flows from investing activities: Sales of investments 1,322 - 15,830 (2,681) 14,471 Sales of divested businesses, net - - 6 - 6 Purchase of investments (39) - (15,405) 2,681 (12,763) Loans to subsidiaries - net 422 - (60) (362) - Contributions from (to) subsidiaries - net 153 - - (153) - Net change in short-term investments (2,460) - (580) - (3,040) Other, net (79) - (567) - (646) Net cash (used in) investing activities (681) - (776) (515) (1,972) Cash flows from financing activities: Issuance of long-term debt 2,472 - 567 - 3,039 Repayments of long-term debt (1,107) - (220) - (1,327) Purchase of common stock (298) - - - (298) Intercompany loans - net 60 - (422) 362 - Cash dividends paid (289) (377) (431) 808 (289) Other, net (154) - 1,362 153 1,361 Net cash (used in) provided by financing activities 684 (377) 856 1,323 2,486 Effect of exchange rate changes on cash and restricted cash - - 58 - 58 Change in cash and restricted cash 12 (15) (363) - (366) Cash and restricted cash at beginning of year 8 20 2,709 - 2,737 Cash and restricted cash at end of period $ 20 $ 5 $ 2,346 $ - $ 2,371 Three Months Ended March 31, 2017 Net cash (used in) provided by operating activities $ 651 $ (23) $ (10,915) $ (49) $ (10,336) Cash flows from investing activities: Sales of investments 2,699 - 26,482 (2,482) 26,699 Sales of divested businesses, net - - 24 - 24 Purchase of investments (890) - (14,769) 2,482 (13,177) Loans to subsidiaries - net (56) - 183 (127) - Contributions from (to) subsidiaries - net 206 - - (206) - Net change in short-term investments 1,477 - (227) - 1,250 Other, net (5) - (292) - (297) Net cash (used in) provided by investing activities 3,431 - 11,401 (333) 14,499 Cash flows from financing activities: Issuance of long-term debt - - 151 - 151 Repayments of long-term debt - - (602) - (602) Purchase of common stock (3,585) - - - (3,585) Intercompany loans - net (183) - 56 127 - Cash dividends paid (307) - (49) 49 (307) Other, net - - 89 206 295 Net cash (used in) provided by financing activities (4,075) - (355) 382 (4,048) Effect of exchange rate changes on cash and restricted cash - - (82) - (82) Change in cash and restricted cash 7 (23) 49 - 33 Cash and restricted cash at beginning of year 3 34 2,070 - 2,107 Change in cash of businesses held for sale - - 52 - 52 Cash and restricted cash at end of period $ 10 $ 11 $ 2,171 $ - $ 2,192
Supplementary Disclosure of Condensed Consolidating Cash Flow Information	American International Reclassifications Group, Inc. Other and Consolidated (in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG March 31, 2018 Cash $ 4 $ 5 $ 2,094 $ - $ 2,103 Restricted cash included in Short-term investments 15 - 32 - 47 Restricted cash included in Other assets 1 - 220 - 221 Total cash and restricted cash shown in the Condensed Consolidating Statements of Cash Flows $ 20 $ 5 $ 2,346 $ - $ 2,371 Cash (paid) received during the 2018 period for: Interest: Third party $ (260) $ - $ (97) $ - $ (357) Intercompany - - - - - Taxes: Income tax authorities $ (9) $ - $ (19) $ - $ (28) Intercompany 403 - (403) - - March 31, 2017 Cash $ 2 $ 11 $ 1,905 $ - $ 1,918 Restricted cash included in Short-term investments 7 - 54 - 61 Restricted cash included in Other assets 1 - 212 - 213 Total cash and restricted cash shown in the Condensed Consolidating Statements of Cash Flows $ 10 $ 11 $ 2,171 $ - $ 2,192 Cash (paid) received during the 2017 period for: Interest: Third party $ (288) $ (23) $ (43) $ - $ (354) Intercompany - - - - - Taxes: Income tax authorities $ (14) $ - $ (54) $ - $ (68) Intercompany 1,090 - (1,090) - -
Supplementary disclosure of non-cash activities	Three Months Ended March 31, (in millions) 2018 2017 Intercompany non-cash financing and investing activities: Capital contributions $ 2,339 $ 198 Dividends received in the form of securities 60 150 Return of capital 2,706 -

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	Mar. 31, 2018item$ / shares	Dec. 31, 2017$ / shares
Basis of Presentation [Line Items]
Common Stock, Par or Stated Value Per Share | $ / shares	$ 2.5	$ 2.5
Minimum
Basis of Presentation [Line Items]
Number of Countries in which Entity Operates | item	80

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Other significant accounting policies) $ in Millions	Mar. 31, 2018USD ($)
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	$ (8)
Accumulated Other Comprehensive Income
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	(576)
Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	568
Accounting Standards Update - Recognition and Measurement of Financial Assets and Financial Liabilities | Accumulated Other Comprehensive Income
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	(824)
Accounting Standards Update - Recognition and Measurement of Financial Assets and Financial Liabilities | Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	824
Accounting Standards Update - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	248
Accounting Standards Update - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income | Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	$ (248)

SEGMENT INFORMATION (Details -

SEGMENT INFORMATION (Details - Continuing operations by reportable segment) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment results
Total Revenues	$ 11,712	$ 12,632
Adjusted pre-tax income (loss)	1,227	1,727
AIG Consolidation and Eliminations
Segment results
Total Revenues	(62)	(64)
Adjusted pre-tax income (loss)	11	48
Total AIG Consolidated adjusted revenues and adjusted pre-tax income (loss)
Segment results
Total Revenues	11,828	12,735
Adjusted pre-tax income (loss)	1,216	2,041
General Insurance | Reportable Segments
Segment results
Total Revenues	7,444	7,538
Adjusted pre-tax income (loss)	510	1,061
General Insurance | Reportable Segments | North America
Segment results
Total Revenues	3,340	3,840
Adjusted pre-tax income (loss)	320	828
General Insurance | Reportable Segments | International
Segment results
Total Revenues	4,104	3,698
Adjusted pre-tax income (loss)	190	233
Life and Retirement | Reportable Segments
Segment results
Total Revenues	3,460	3,703
Adjusted pre-tax income (loss)	892	898
Life and Retirement | Reportable Segments | Individual Retirement
Segment results
Total Revenues	1,361	1,373
Adjusted pre-tax income (loss)	499	539
Life and Retirement | Reportable Segments | Group Retirement
Segment results
Total Revenues	761	718
Adjusted pre-tax income (loss)	282	243
Life and Retirement | Reportable Segments | Life insurance
Segment results
Total Revenues	1,061	1,013
Adjusted pre-tax income (loss)	52	54
Life and Retirement | Reportable Segments | Institutional Markets
Segment results
Total Revenues	277	599
Adjusted pre-tax income (loss)	59	62
Other Operations
Segment results
Total Revenues	150	474
Adjusted pre-tax income (loss)	(342)	(308)
Legacy Portfolio
Segment results
Total Revenues	836	1,084
Adjusted pre-tax income (loss)	$ 145	$ 342

SEGMENT INFORMATION (Details 42

SEGMENT INFORMATION (Details - Continuing operations by reportable segment - Pretax operating income to pre-tax income)) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reconciling items from Adjusted revenues and Adjusted pre-tax income (loss) to revenues and pre-tax income (loss):
Gain (Loss) on extinguishment of debt	$ (4)	$ 1
Income (loss) from divested businesses	8	(100)
Net reserve discount (benefit) charge	205	25
Adjusted pre-tax income (loss)	1,227	1,727
Reconciling items from pre-tax operating income to pre-tax income | Total Revenues
Reconciling items from Adjusted revenues and Adjusted pre-tax income (loss) to revenues and pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed living benefits	(77)	11
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	0	0
Other income (expense) - net	(11)	(9)
Gain (Loss) on extinguishment of debt	0	0
Net realized capital gains (losses)	(29)	(115)
Income (loss) from divested businesses	0	0
Non-operating litigation reserves and settlements	1	10
Prior Year Development And Change In Amortization Of Deferred Gain On Retroactive Reinsurance	0	0
Net reserve discount (benefit) charge	0	0
Restructuring and other costs	0	0
Reconciling items from pre-tax operating income to pre-tax income | Adjusted Pre-Tax Income (loss)
Reconciling items from Adjusted revenues and Adjusted pre-tax income (loss) to revenues and pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed living benefits	(77)	11
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	(31)	53
Other income (expense) - net	0	0
Gain (Loss) on extinguishment of debt	(4)	1
Net realized capital gains (losses)	(19)	(115)
Income (loss) from divested businesses	8	(100)
Non-operating litigation reserves and settlements	(13)	6
Prior Year Development And Change In Amortization Of Deferred Gain On Retroactive Reinsurance	(34)	(14)
Net reserve discount (benefit) charge	205	25
Restructuring and other costs	$ (24)	$ (181)

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
	Sep. 30, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Sep. 30, 2017
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		$ 233,914		$ 238,992
Other bond securities		12,397		12,772
Equity securities available for sale		0		1,708
Other equity securities		1,725		589
Other invested assets		6,232		6,248
Derivative Assets, Fair Value		3,631		3,545
Derivative assets, Counterparty netting		(1,589)		(1,464)
Derivative assets, Cash collateral		(1,268)		(1,159)
Short-term investments, portion measured at fair value		3,094		2,615
Separate account assets, at fair value		90,589		92,798
Other assets		774		922
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		3,711		4,150
Other policyholder funds		3,473		3,648
Derivative Liabilities, Fair Value		3,702		3,748
Derivative liabilities, Counterparty netting		(1,589)		(1,464)
Derivative liabilities, Cash collateral		(980)		(1,249)
Long-term debt, portion measured at fair value		2,820		2,888
Other liabilities		1,158		1,124
Fair Value Option
Fair Value, Liabilities Measured on Recurring Basis
Long-term debt, portion measured at fair value		2,820		2,888
U.S. government and government sponsored entities
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2		191	$ 63
Non-U.S. governments
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2		16	$ 53
Preferred Stock
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	$ 0	0
Recurring Basis
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 2 to Level 1		0			$ 0
Recurring Basis | Fair Value Option
Fair Value, Assets Measured on Recurring Basis
Other invested assets		5,900		6,000
Recurring Basis | Level 1
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		25		221
Other bond securities		594		238
Equity securities available for sale		0		1,189
Other equity securities		1,716		589
Other invested assets		5		0
Derivative Assets, Fair Value		48		189
Short-term investments, portion measured at fair value		2,611		2,078
Separate account assets, at fair value		85,362		87,141
Fair value assets measured on recurring basis, total		90,361		91,645
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		0		0
Derivative Liabilities, Fair Value		1		4
Long-term debt, portion measured at fair value		0		0
Other liabilities		25		46
Fair value liabilities measured on recurring basis, total		26		50
Recurring Basis | Level 1 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		1
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		1		2
Recurring Basis | Level 1 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		0
Recurring Basis | Level 1 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		48		188
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		2
Recurring Basis | Level 1 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		0
Recurring Basis | Level 1 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		0
Recurring Basis | Level 1 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		201
Other bond securities		594		238
Recurring Basis | Level 1 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		0
Recurring Basis | Level 1 | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		25		20
Other bond securities		0		0
Recurring Basis | Level 1 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		0
Other bond securities		0		0
Recurring Basis | Level 1 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		0
Other bond securities		0		0
Recurring Basis | Level 1 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		0
Other bond securities		0		0
Recurring Basis | Level 1 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		0
Other bond securities		0		0
Recurring Basis | Level 1 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		1,061
Recurring Basis | Level 1 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		18
Recurring Basis | Level 1 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		110
Recurring Basis | Level 2
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		205,479		209,775
Other bond securities		5,508		6,022
Equity securities available for sale		0		519
Other equity securities		6		0
Other invested assets		1		1
Derivative Assets, Fair Value		3,483		3,249
Short-term investments, portion measured at fair value		483		537
Separate account assets, at fair value		5,227		5,657
Fair value assets measured on recurring basis, total		220,187		225,760
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		15		14
Derivative Liabilities, Fair Value		3,423		3,450
Long-term debt, portion measured at fair value		2,820		2,888
Other liabilities		0		43
Fair value liabilities measured on recurring basis, total		6,258		6,395
Recurring Basis | Level 2 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		2,549		2,170
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		2,185		2,176
Recurring Basis | Level 2 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		792		827
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		1,213		1,241
Recurring Basis | Level 2 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		142		252
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		13		19
Recurring Basis | Level 2 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		12		14
Recurring Basis | Level 2 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		0
Recurring Basis | Level 2 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		2,833		2,455
Other bond securities		2,183		2,564
Recurring Basis | Level 2 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		15,550		16,240
Recurring Basis | Level 2 | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		15,689		15,631
Other bond securities		54		57
Recurring Basis | Level 2 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		129,468		133,003
Other bond securities		1,784		1,891
Recurring Basis | Level 2 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		20,050		21,098
Other bond securities		391		421
Recurring Basis | Level 2 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		13,025		13,217
Other bond securities		493		485
Recurring Basis | Level 2 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		8,864		8,131
Other bond securities		603		604
Recurring Basis | Level 2 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		0
Recurring Basis | Level 2 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		515
Recurring Basis | Level 2 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		4
Recurring Basis | Level 3
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		28,410		28,996
Other bond securities		6,295		6,512
Equity securities available for sale		0		0
Other equity securities		3		0
Mortgage and other loans receivable				5
Other invested assets		292		250
Derivative Assets, Fair Value		100		107
Short-term investments, portion measured at fair value		0		0
Separate account assets, at fair value		0
Fair value assets measured on recurring basis, total		35,100		35,870
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		3,696		4,136
Derivative Liabilities, Fair Value		278		294
Long-term debt, portion measured at fair value		0		0
Other liabilities		0		0
Fair value liabilities measured on recurring basis, total		3,974		4,430
Recurring Basis | Level 3 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		17		22
Recurring Basis | Level 3 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		3		4
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		4		4
Recurring Basis | Level 3 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		78		82
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		0
Recurring Basis | Level 3 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		2		1
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		252		263
Recurring Basis | Level 3 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		17		20
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		5		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
Other bond securities		0		0
Recurring Basis | Level 3 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		2,261		2,404
Recurring Basis | Level 3 | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		9		8
Other bond securities		0		0
Recurring Basis | Level 3 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		1,871		1,173
Other bond securities		19		18
Recurring Basis | Level 3 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		15,839		16,136
Other bond securities		1,427		1,464
Recurring Basis | Level 3 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		584		624
Other bond securities		73		74
Recurring Basis | Level 3 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		7,846		8,651
Other bond securities		4,776		4,956
Recurring Basis | Level 3 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		0
Recurring Basis | Level 3 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		0
Recurring Basis | Level 3 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		0
Recurring Basis | Counterparty Netting
Fair Value, Assets Measured on Recurring Basis
Other bond securities		0
Equity securities available for sale		0
Other equity securities		0
Other invested assets		0
Derivative assets, Counterparty netting		(1,589)		(1,464)
Separate account assets, at fair value		0
Fair value assets measured on recurring basis, total		(1,589)		(1,464)
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		0
Derivative liabilities, Counterparty netting		(1,589)		(1,464)
Long-term debt, portion measured at fair value		0
Other liabilities		0
Fair value liabilities measured on recurring basis, total		(1,589)		(1,464)
Recurring Basis | Counterparty Netting | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Counterparty netting		(1,589)		(1,464)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Counterparty netting		(1,589)		(1,464)
Recurring Basis | Cash Collateral
Fair Value, Assets Measured on Recurring Basis
Other bond securities		0
Equity securities available for sale		0
Other equity securities		0
Other invested assets		0
Derivative assets, Cash collateral		(1,268)		(1,159)
Separate account assets, at fair value		0
Fair value assets measured on recurring basis, total		(1,268)		(1,159)
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		0
Derivative liabilities, Cash collateral		(980)		(1,249)
Long-term debt, portion measured at fair value		0
Other liabilities		0
Fair value liabilities measured on recurring basis, total		(980)		(1,249)
Recurring Basis | Cash Collateral | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Cash collateral		(1,268)		(1,159)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Cash collateral		(980)		(1,249)
Recurring Basis | Total Fair Value
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		233,914		238,992
Other bond securities		12,397		12,772
Equity securities available for sale		0		1,708
Other equity securities		1,725		589
Mortgage and other loans receivable				5
Other invested assets		298		251
Derivative Assets, Fair Value		774		922
Short-term investments, portion measured at fair value		3,094		2,615
Separate account assets, at fair value		90,589		92,798
Fair value assets measured on recurring basis, total		342,791		350,652
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		3,711		4,150
Derivative Liabilities, Fair Value		1,133		1,035
Long-term debt, portion measured at fair value		2,820		2,888
Other liabilities		25		89
Fair value liabilities measured on recurring basis, total		7,689		8,162
Recurring Basis | Total Fair Value | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		2,549		2,171
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		2,203		2,200
Recurring Basis | Total Fair Value | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		795		831
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		1,217		1,245
Recurring Basis | Total Fair Value | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		268		522
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		13		21
Recurring Basis | Total Fair Value | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		2		1
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		264		277
Recurring Basis | Total Fair Value | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		17		20
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		5		5
Recurring Basis | Total Fair Value | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		(2,857)		(2,623)
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		(2,569)		(2,713)
Recurring Basis | Total Fair Value | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		2,833		2,656
Other bond securities		2,777		2,802
Recurring Basis | Total Fair Value | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		17,811		18,644
Recurring Basis | Total Fair Value | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		15,723		15,659
Other bond securities		54		57
Recurring Basis | Total Fair Value | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		131,339		134,176
Other bond securities		1,803		1,909
Recurring Basis | Total Fair Value | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		35,889		37,234
Other bond securities		1,818		1,885
Recurring Basis | Total Fair Value | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		13,609		13,841
Other bond securities		566		559
Recurring Basis | Total Fair Value | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		16,710		16,782
Other bond securities		5,379		5,560
Recurring Basis | Total Fair Value | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		1,061
Recurring Basis | Total Fair Value | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		533
Recurring Basis | Total Fair Value | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		$ 0		$ 114

FAIR VALUE MEASUREMENTS (Deta44

FAIR VALUE MEASUREMENTS (Details - Changes in Level 3 Recurring Fair Value Measurements) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	$ 35,763	$ 37,666
Net Realized and Unrealized Gains (Losses) Included in Income	371	526
Other Comprehensive Income (Loss)	(160)	192
Purchases, Sales, Issues and Settlements, Net	(1,410)	(1,820)
Gross Transfers in, assets	566	144
Gross Transfers out, assets	(130)	(1,035)
Balance End of Period	35,000	35,673
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	90	96
Liabilities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	4,323	3,413
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(542)	(81)
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	93	78
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	3,874	3,410
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	633	114
Policyholder contract deposits
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	4,136	3,033
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(506)	(45)
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	66	84
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	3,696	3,072
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	604	98
Derivative liabilities, net
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	187	309
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(36)	(48)
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	27	19
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	178	280
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	29	18
Interest rate contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	22	38
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(3)	(3)
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	(2)	(3)
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	17	32
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	3	3
Foreign exchange contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	0	11
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(10)	0
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	11	(5)
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	1	6
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	3	0
Equity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(82)	(58)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	4	(11)
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	0	7
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(78)	(62)
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	(4)	5
Commodity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	0
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0
Accumulated Other Comprehensive Income (loss)	0
Purchases, Sales, Issues and Settlements-Net	0
Gross Transfers in, liabilities	0
Gross Transfers out, liabilities	0
Balance at the End of the Period	0
Commodity 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	0
Credit contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	262	329
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(10)	(15)
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	(2)	1
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	250	315
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	10	11
Other contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(15)	(11)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(17)	(19)
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	20	19
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(12)	(11)
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	17	(1)
Long-term debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	0	71
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	12
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	0	(25)
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	0	58
Long-term debt | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	0	(2)
Bonds available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	28,996	29,971
Net Realized and Unrealized Gains (Losses) Included in Income	220	298
Other Comprehensive Income (Loss)	(161)	197
Purchases, Sales, Issues and Settlements, Net	(1,089)	(1,301)
Gross Transfers in, assets	565	144
Gross Transfers out, assets	(121)	(928)
Balance End of Period	28,410	28,381
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	2,404	2,040
Net Realized and Unrealized Gains (Losses) Included in Income	1	2
Other Comprehensive Income (Loss)	(75)	(4)
Purchases, Sales, Issues and Settlements, Net	(69)	21
Gross Transfers in, assets	0	0
Gross Transfers out, assets	0	(18)
Balance End of Period	2,261	2,041
Bonds available for sale | Non-U.S. governments
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	8	17
Net Realized and Unrealized Gains (Losses) Included in Income	(4)	0
Other Comprehensive Income (Loss)	4	0
Purchases, Sales, Issues and Settlements, Net	1	(1)
Gross Transfers in, assets	0	0
Gross Transfers out, assets	0	0
Balance End of Period	9	16
Bonds available for sale | Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1,173	1,133
Net Realized and Unrealized Gains (Losses) Included in Income	(57)	(4)
Other Comprehensive Income (Loss)	10	(3)
Purchases, Sales, Issues and Settlements, Net	248	(13)
Gross Transfers in, assets	565	136
Gross Transfers out, assets	(68)	(170)
Balance End of Period	1,871	1,079
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	16,136	16,906
Net Realized and Unrealized Gains (Losses) Included in Income	266	289
Other Comprehensive Income (Loss)	5	151
Purchases, Sales, Issues and Settlements, Net	(536)	(858)
Gross Transfers in, assets	0	8
Gross Transfers out, assets	(32)	(9)
Balance End of Period	15,839	16,487
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	624	2,040
Net Realized and Unrealized Gains (Losses) Included in Income	6	5
Other Comprehensive Income (Loss)	(17)	5
Purchases, Sales, Issues and Settlements, Net	(23)	(348)
Gross Transfers in, assets	0	0
Gross Transfers out, assets	(6)	(699)
Balance End of Period	584	1,003
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	8,651	7,835
Net Realized and Unrealized Gains (Losses) Included in Income	8	6
Other Comprehensive Income (Loss)	(88)	48
Purchases, Sales, Issues and Settlements, Net	(710)	(102)
Gross Transfers in, assets	0	0
Gross Transfers out, assets	(15)	(32)
Balance End of Period	7,846	7,755
Other bond securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	6,512	7,480
Net Realized and Unrealized Gains (Losses) Included in Income	128	229
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(337)	(510)
Gross Transfers in, assets	1	0
Gross Transfers out, assets	(9)	(106)
Balance End of Period	6,295	7,093
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	58	96
Other bond securities | Obligations of states, municipalities and political subdivisions
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Purchases, Sales, Issues and Settlements, Net	0	0
Other bond securities | Non-U.S. governments
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Purchases, Sales, Issues and Settlements, Net	0	0
Other bond securities | Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	18	17
Net Realized and Unrealized Gains (Losses) Included in Income	1	1
Purchases, Sales, Issues and Settlements, Net	0	0
Gross Transfers in, assets	0	0
Balance End of Period	19	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
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	1,464	1,605
Net Realized and Unrealized Gains (Losses) Included in Income	39	55
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(76)	(125)
Gross Transfers in, assets	0	0
Gross Transfers out, assets	0	(33)
Balance End of Period	1,427	1,502
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	51	24
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	74	155
Net Realized and Unrealized Gains (Losses) Included in Income	(1)	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(1)	(17)
Gross Transfers in, assets	1	0
Gross Transfers out, assets	0	(73)
Balance End of Period	73	65
Other bond securities | Commercial mortgage-backed securities (CMBS) | Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(1)	1
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	4,956	5,703
Net Realized and Unrealized Gains (Losses) Included in Income	89	173
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(260)	(368)
Gross Transfers in, assets	0	0
Gross Transfers out, assets	(9)	0
Balance End of Period	4,776	5,508
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	8	70
Equity securities available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0
Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	0	8
Gross Transfers in, assets	0	0
Gross Transfers out, assets	0	0
Balance End of Period	0	8
Equity securities available for sale | Common Stock
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0
Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	0	8
Gross Transfers in, assets	0	0
Gross Transfers out, assets	0	0
Balance End of Period	0	8
Mortgage and other loans receivable
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	5	11
Purchases, Sales, Issues and Settlements, Net	(5)	0
Gross Transfers in, assets		0
Balance End of Period	0	11
Other invested assets
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	250	204
Net Realized and Unrealized Gains (Losses) Included in Income	23	(1)
Other Comprehensive Income (Loss)	1	(5)
Purchases, Sales, Issues and Settlements, Net	18	(17)
Gross Transfers in, assets	0	0
Gross Transfers out, assets	0	(1)
Balance End of Period	292	180
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	30
Other equity securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0
Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Purchases, Sales, Issues and Settlements, Net	3	0
Gross Transfers in, assets	0	0
Balance End of Period	3	0
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	$ 2	$ 0

FAIR VALUE MEASUREMENTS (Deta45

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
	Mar. 31, 2018	Mar. 31, 2017
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	$ 371	$ 526
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	(506)	(45)
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
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	(506)	(45)
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
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	(36)	(48)
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
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	(7)
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	(37)	(41)
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	0	12
Long-term debt | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0
Long-term debt | Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0
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	0	12
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	220	298
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	282	298
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	(62)	0
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	0
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	128	229
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	23	75
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)	6
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	109	148
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	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	0	0
Other 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
Other 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
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	23	(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	25	0
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	0	(3)
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	$ (2)	$ 2

FAIR VALUE MEASUREMENTS (Deta46

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issues and settlements) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, Sales, Issues and Settlements, Net, assets		$ (1,410)		$ (1,820)
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	$ 0	(24)	$ 0	(8)
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.	$ 0	0	$ 0	1
Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities		(7)		0
Sales, liabilities		112		70
Settlements, liabilities		(12)		8
Purchases, Sales, Issues and Settlements, Net, liabilities		93		78
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities		0		0
Sales, liabilities		112		70
Settlements, liabilities		(46)		14
Purchases, Sales, Issues and Settlements, Net, liabilities		66		84
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities		(7)		0
Sales, liabilities		0		0
Settlements, liabilities		34		19
Purchases, Sales, Issues and Settlements, Net, liabilities		27		19
Long-term debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities		0		0
Sales, liabilities		0		0
Settlements, liabilities		0		(25)
Purchases, Sales, Issues and Settlements, Net, liabilities		0		(25)
Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		1,037		535
Sales, assets		(873)		(495)
Settlements, assets		(1,574)		(1,860)
Purchases, Sales, Issues and Settlements, Net, assets		(1,410)		(1,820)
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		1,011		428
Sales, assets		(859)		(317)
Settlements, assets		(1,241)		(1,412)
Purchases, Sales, Issues and Settlements, Net, assets		(1,089)		(1,301)
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		15		37
Sales, assets		0		(5)
Settlements, assets		(84)		(11)
Purchases, Sales, Issues and Settlements, Net, assets		(69)		21
Bonds available for sale | Non-U.S. governments
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		2		0
Sales, assets		0		(1)
Settlements, assets		(1)		0
Purchases, Sales, Issues and Settlements, Net, assets		1		(1)
Bonds available for sale | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		254		0
Sales, assets		(3)		0
Settlements, assets		(3)		(13)
Purchases, Sales, Issues and Settlements, Net, assets		248		(13)
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		233		339
Sales, assets		(5)		(244)
Settlements, assets		(764)		(953)
Purchases, Sales, Issues and Settlements, Net, assets		(536)		(858)
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		12		39
Sales, assets		0		(67)
Settlements, assets		(35)		(320)
Purchases, Sales, Issues and Settlements, Net, assets		(23)		(348)
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		495		13
Sales, assets		(851)		0
Settlements, assets		(354)		(115)
Purchases, Sales, Issues and Settlements, Net, assets		(710)		(102)
Other bond securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		1		98
Sales, assets		(9)		(178)
Settlements, assets		(329)		(430)
Purchases, Sales, Issues and Settlements, Net, assets		(337)		(510)
Other bond securities | Obligations of states, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets		0		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		0		0
Other bond securities | Non-U.S. governments
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets		0		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		0		0
Other bond securities | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets		0		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		0		0
Other bond securities | Residential mortgage-backed securities (RMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		1		98
Sales, assets		(5)		(167)
Settlements, assets		(72)		(56)
Purchases, Sales, Issues and Settlements, Net, assets		(76)		(125)
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
Sales, assets		0		(11)
Settlements, assets		(1)		(6)
Purchases, Sales, Issues and Settlements, Net, assets		(1)		(17)
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		0
Sales, assets		(4)		0
Settlements, assets		(256)		(368)
Purchases, Sales, Issues and Settlements, Net, assets		(260)		(368)
Equity securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		8
Sales, assets		0		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		0		8
Other equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		3		0
Sales, assets		0		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		3		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		(5)		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		(5)		0
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		22		1
Sales, assets		0		0
Settlements, assets		(4)		(18)
Purchases, Sales, Issues and Settlements, Net, assets		$ 18		$ (17)

FAIR VALUE MEASUREMENTS (Deta47

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Assets)) - Discounted cash flow - Level 3 - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Corporate debt
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,638	$ 1,086
Corporate debt | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.74%	3.26%
Corporate debt | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	13.88%	12.22%
Corporate debt | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	9.31%	7.74%
Residential mortgage-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 15,679	$ 16,156
Residential mortgage-backed securities | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.99%	2.73%
Constant prepayment rate	3.71%	3.97%
Loss severity	40.73%	43.15%
Constant default rate	3.23%	3.31%
Residential mortgage-backed securities | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.33%	5.19%
Constant prepayment rate	12.82%	13.42%
Loss severity	75.96%	77.15%
Constant default rate	8.25%	8.30%
Residential mortgage-backed securities | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.16%	3.96%
Constant prepayment rate	8.27%	8.69%
Loss severity	58.34%	60.15%
Constant default rate	5.74%	5.80%
Certain CDO/ABS
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 5,200	$ 5,254
Certain CDO/ABS | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.69%	3.38%
Certain CDO/ABS | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.99%	4.78%
Certain CDO/ABS | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.34%	4.08%
Commercial mortgage backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 456	$ 487
Commercial mortgage backed securities | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.82%	2.22%
Commercial mortgage backed securities | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	6.34%	7.77%
Commercial mortgage backed securities | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.58%	4.99%
Obligations of states, municipalities and political subdivisions
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,571	$ 1,620
Obligations of states, municipalities and political subdivisions | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.82%	3.55%
Obligations of states, municipalities and political subdivisions | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.51%	4.32%
Obligations of states, municipalities and political subdivisions | Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.16%	3.94%

FAIR VALUE MEASUREMENTS (Deta48

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Liabilities) - Discounted cash flow - Level 3 - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Index Annuities
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 1,517	$ 1,603
Index Annuities | Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Lapse rates	0.50%	0.50%
Mortality multiplier	42.00%	42.00%
Options Budget	1.00%	1.00%
Index Annuities | Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Lapse rates	40.00%	40.00%
Mortality multiplier	162.00%	162.00%
Options Budget	4.00%	4.00%
Index Life
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 554	$ 515
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	$ 1,601	$ 1,994
GMWB and GMAB | Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	6.45%	6.45%
Base lapse rates	0.35%	0.35%
Dynamic lapse rates	30.00%	30.00%
Utilization rates	90.00%	90.00%
Mortality multiplier	40.00%	40.00%
Equity/Interest-rate Correlation	20.00%	20.00%
GMWB and GMAB | Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	50.55%	51.25%
Base lapse rates	14.00%	14.00%
Dynamic lapse rates	170.00%	170.00%
Utilization rates	100.00%	100.00%
Mortality multiplier	153.00%	153.00%
Equity/Interest-rate Correlation	40.00%	40.00%

FAIR VALUE MEASUREMENTS (Deta49

FAIR VALUE MEASUREMENTS (Details - Investments in certain other invested assets, including private equity funds, hedge funds and other alternative investments) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 5,934	$ 5,997
Unfunded Commitments	1,270	1,239
Direct private equity
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	2,245	2,128
Unfunded Commitments	$ 1,259	1,227
Average original expected lives	10 years
Second investment redemption notice period	2 years
Direct private equity | Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives	2 years
Direct private equity | Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives	1 year
Direct private equity | 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	55.00%
Direct private equity | 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
Direct private equity | 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	23.00%
Direct private equity | 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
Direct private equity | 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
Direct private equity | 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	22.00%
Direct private equity | 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
Direct private equity | 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	$ 1,261	1,243
Unfunded Commitments	719	706
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	238	210
Unfunded Commitments	166	187
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	145	134
Unfunded Commitments	133	73
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	109	113
Unfunded Commitments	43	42
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	492	428
Unfunded Commitments	198	219
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	3,689	3,869
Unfunded Commitments	$ 11	12
Hedge fund investments redeemable monthly (as a percent)	26.00%
Hedge fund investments redeemable quarterly (as a percent)	40.00%
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	55.00%
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	$ 1,074	1,128
Unfunded Commitments	0	0
Long-short
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	1,196	1,233
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	1,045	1,011
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	170	266
Unfunded Commitments	8	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	204	231
Unfunded Commitments	$ 3	$ 4

FAIR VALUE MEASUREMENTS (Deta50

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
	Sep. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option credit risk gains (losses) on liabilities	$ 0	$ 2	$ 0	$ 3
Fair Value Option
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)		203		515
Fair Value Option | Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)		52		(15)
Fair Value Option | Other liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)		0		0
Fair Value Option | Bond and equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)		23		349
Fair Value Option | Alternative investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)		$ 128		$ 181

FAIR VALUE MEASUREMENTS (Deta51

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	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	$ 0	$ 5
Mortgage and other loans receivable, Outstanding Principal Amount	38,887	37,345
Mortgage and other loans receivable, Difference	38,887	37,345
Long-term debt, Fair Value	2,820	2,888
Long-term debt, Outstanding Principal Amount	33,619	31,640
Fair Value Option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	0	5
Mortgage and other loans receivable, Outstanding Principal Amount	0	5
Mortgage and other loans receivable, Difference	0	0
Long-term debt, Fair Value	2,820	2,888
Long-term debt, Outstanding Principal Amount	2,311	2,280
Long-term debt, Difference	$ 509	$ 608

FAIR VALUE MEASUREMENTS (Deta52

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
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	$ 28	$ 93
Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	28	17
Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	0	41
Other assets
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	95		$ 55
Level 3 | Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	95		55
Level 3 | Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	0		0
Level 3 | Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	0		0
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	95		55
Total Fair Value | Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	95		55
Total Fair Value | Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	0		0
Total Fair Value | Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	$ 0		$ 0
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		$ 179

FAIR VALUE MEASUREMENTS (Deta53

FAIR VALUE MEASUREMENTS (Details - Carrying values and estimated fair values of our financial instruments not measured at fair value) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Assets:
Mortgage and other loans receivable	$ 38,540	$ 37,023
Short-term investments	14,616	10,386
Cash	2,103	2,362	$ 1,918
Liabilities:
Other liabilities	26,921	26,050
Long-term Debt	33,619	31,640
Total Fair Value
Assets:
Mortgage and other loans receivable	38,672	37,761
Other invested assets	770	596
Short-term investments	11,522	7,771
Cash	2,103	2,362
Liabilities:
Policyholder contract deposits associated with investment-type contracts	122,021	122,196
Other liabilities	3,210	4,494
Long-term Debt	28,995	28,243
Level 1
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	2,103	2,362
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	114	117
Other invested assets	764	590
Short-term investments	11,522	7,771
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	373	387
Other liabilities	3,210	4,494
Long-term Debt	24,488	23,930
Level 3
Assets:
Mortgage and other loans receivable	38,558	37,644
Other invested assets	6	6
Short-term investments	0	0
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	121,648	121,809
Other liabilities	0	0
Long-term Debt	4,507	4,313
Carrying Value
Assets:
Mortgage and other loans receivable	38,540	37,018
Other invested assets	767	593
Short-term investments	11,522	7,771
Cash	2,103	2,362
Liabilities:
Policyholder contract deposits associated with investment-type contracts	117,265	114,326
Other liabilities	3,210	4,494
Long-term Debt	$ 30,799	$ 28,752

INVESTMENTS (Details - Amortize

INVESTMENTS (Details - Amortized cost or cost and fair value of Available for sale securities) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 225,352	$ 226,766
Available for sale securities, Gross Unrealized Gains	11,359	15,315
Available for sale securities, Gross Unrealized Losses	(2,797)	(1,381)
Available-for-sale Securities	233,914	240,700
AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,411	1,656
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	225,352	225,461
Available for sale securities, Gross Unrealized Gains	11,359	14,891
Available for sale securities, Gross Unrealized Losses	(2,797)	(1,360)
Available-for-sale Securities	233,914	238,992
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	30,400	31,500
Bonds available for sale | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,411	1,656
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	2,764	2,532
Available for sale securities, Gross Unrealized Gains	121	160
Available for sale securities, Gross Unrealized Losses	(52)	(36)
Available-for-sale Securities	2,833	2,656
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	16,943	17,377
Available for sale securities, Gross Unrealized Gains	941	1,297
Available for sale securities, Gross Unrealized Losses	(73)	(30)
Available-for-sale Securities	17,811	18,644
Bonds available for sale | Non-U.S. governments
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	15,350	15,059
Available for sale securities, Gross Unrealized Gains	570	717
Available for sale securities, Gross Unrealized Losses	(197)	(117)
Available-for-sale Securities	15,723	15,659
Bonds available for sale | Corporate debt
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	127,106	126,310
Available for sale securities, Gross Unrealized Gains	6,020	8,666
Available for sale securities, Gross Unrealized Losses	(1,787)	(800)
Available-for-sale Securities	131,339	134,176
Bonds available for sale | Corporate debt | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	13	17
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	63,189	64,183
Available for sale securities, Gross Unrealized Gains	3,707	4,051
Available for sale securities, Gross Unrealized Losses	(688)	(377)
Available-for-sale Securities	66,208	67,857
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	1,398	1,639
Bonds available for sale | Residential mortgage-backed securities (RMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	33,131	34,181
Available for sale securities, Gross Unrealized Gains	3,150	3,273
Available for sale securities, Gross Unrealized Losses	(392)	(220)
Available-for-sale Securities	35,889	37,234
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	1,343	1,568
Bonds available for sale | Commercial mortgage-backed securities (CMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	13,558	13,538
Available for sale securities, Gross Unrealized Gains	273	408
Available for sale securities, Gross Unrealized Losses	(222)	(105)
Available-for-sale Securities	13,609	13,841
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	29	42
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	16,500	16,464
Available for sale securities, Gross Unrealized Gains	284	370
Available for sale securities, Gross Unrealized Losses	(74)	(52)
Available-for-sale Securities	16,710	16,782
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	26	29
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	0	1,305
Available for sale securities, Gross Unrealized Gains	0	424
Available for sale securities, Gross Unrealized Losses	0	(21)
Available-for-sale Securities	0	1,708
Equity securities available for sale | Common Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	0	703
Available for sale securities, Gross Unrealized Gains	0	379
Available for sale securities, Gross Unrealized Losses	0	(21)
Available-for-sale Securities	0	1,061
Equity securities available for sale | Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	0	504
Available for sale securities, Gross Unrealized Gains	0	29
Available for sale securities, Gross Unrealized Losses	0	0
Available-for-sale Securities	0	533
Equity securities available for sale | Mutual Funds
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	0	98
Available for sale securities, Gross Unrealized Gains	0	16
Available for sale securities, Gross Unrealized Losses	0	0
Available-for-sale Securities	$ 0	$ 114

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	Mar. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 63,952	$ 31,657
Gross Unrealized Losses, Less than 12 Months	1,824	726
Fair Value, 12 Months or More	14,249	15,127
Gross Unrealized Losses, 12 Months or More	973	655
Fair Value, Total	78,201	46,784
Gross Unrealized Losses, Total	2,797	1,381
Bonds available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	63,952	31,520
Gross Unrealized Losses, Less than 12 Months	1,824	705
Fair Value, 12 Months or More	14,249	15,127
Gross Unrealized Losses, 12 Months or More	973	655
Fair Value, Total	78,201	46,647
Gross Unrealized Losses, Total	$ 2,797	1,360
Number of securities in an unrealized loss position | item	12,137
Number of individual securities in continuous unrealized loss position for longer than twelve months | item	2,015
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	$ 1,097	770
Gross Unrealized Losses, Less than 12 Months	25	23
Fair Value, 12 Months or More	529	332
Gross Unrealized Losses, 12 Months or More	27	13
Fair Value, Total	1,626	1,102
Gross Unrealized Losses, Total	52	36
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	2,010	586
Gross Unrealized Losses, Less than 12 Months	36	6
Fair Value, 12 Months or More	599	646
Gross Unrealized Losses, 12 Months or More	37	24
Fair Value, Total	2,609	1,232
Gross Unrealized Losses, Total	73	30
Bonds available for sale | Non-U.S. governments
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	5,825	3,511
Gross Unrealized Losses, Less than 12 Months	127	54
Fair Value, 12 Months or More	893	857
Gross Unrealized Losses, 12 Months or More	70	63
Fair Value, Total	6,718	4,368
Gross Unrealized Losses, Total	197	117
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	38,072	15,578
Gross Unrealized Losses, Less than 12 Months	1,263	453
Fair Value, 12 Months or More	6,701	7,291
Gross Unrealized Losses, 12 Months or More	524	347
Fair Value, Total	44,773	22,869
Gross Unrealized Losses, Total	1,787	800
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	7,716	6,212
Gross Unrealized Losses, Less than 12 Months	206	99
Fair Value, 12 Months or More	3,349	3,790
Gross Unrealized Losses, 12 Months or More	186	121
Fair Value, Total	11,065	10,002
Gross Unrealized Losses, Total	392	220
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	6,105	3,408
Gross Unrealized Losses, Less than 12 Months	133	46
Fair Value, 12 Months or More	1,347	1,389
Gross Unrealized Losses, 12 Months or More	89	59
Fair Value, Total	7,452	4,797
Gross Unrealized Losses, Total	222	105
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	3,127	1,455
Gross Unrealized Losses, Less than 12 Months	34	24
Fair Value, 12 Months or More	831	822
Gross Unrealized Losses, 12 Months or More	40	28
Fair Value, Total	3,958	2,277
Gross Unrealized Losses, Total	74	52
Equity securities available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	0	137
Gross Unrealized Losses, Less than 12 Months	0	21
Fair Value, 12 Months or More	0
Gross Unrealized Losses, 12 Months or More	0
Fair Value, Total	0	137
Gross Unrealized Losses, Total	$ 0	21
Number of individual securities in continuous unrealized loss position for longer than twelve months | item	0
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	$ 0	136
Gross Unrealized Losses, Less than 12 Months	0	21
Fair Value, 12 Months or More	0
Gross Unrealized Losses, 12 Months or More	0
Fair Value, Total	0	136
Gross Unrealized Losses, Total	0	21
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	0	1
Gross Unrealized Losses, Less than 12 Months	0	0
Fair Value, 12 Months or More	0
Gross Unrealized Losses, 12 Months or More	0
Fair Value, Total	0	1
Gross Unrealized Losses, Total	$ 0	$ 0

INVESTMENTS (Details - Amorti56

INVESTMENTS (Details - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 225,352	$ 226,766
Fixed Maturity Securities Available for Sale, Fair Value, Total	233,914	238,992
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	1,881	1,526
Due after one year through five years, Amortized Cost	11,548	7,764
Due after five years through ten years, Amortized Cost	22,337	11,559
Due after ten years, Amortized Cost	22,069	9,705
Mortgage-backed, asset-backed and collateralized, Amortized Cost	23,163	17,453
Available for sale securities, Amortized Cost, Total	80,998	48,007
Due in one year or less, Fair Value	1,872	1,515
Due after one year through five years, Fair Value	11,232	7,571
Due after five years through ten years, Fair Value	21,507	11,143
Due after ten years, Fair Value	21,115	9,342
Mortgage-backed, asset-backed and collateralized, Fair Value	22,475	17,076
Fixed Maturity Securities Available for Sale, Fair Value, Total	78,201	46,647
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	8,393	7,932
Due after one year through five years, Amortized Cost	46,987	47,179
Due after five years through ten years, Amortized Cost	42,637	42,617
Due after ten years, Amortized Cost	64,146	63,550
Mortgage-backed, asset-backed and collateralized, Amortized Cost	63,189	64,183
Available for sale securities, Amortized Cost, Total	225,352	225,461
Due in one year or less, Fair Value	8,524	8,071
Due after one year through five years, Fair Value	48,261	49,093
Due after five years through ten years, Fair Value	42,973	43,944
Due after ten years, Fair Value	67,948	70,027
Mortgage-backed, asset-backed and collateralized, Fair Value	66,208	67,857
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 233,914	$ 238,992

INVESTMENTS (Details - Realized

INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	$ 86	$ 350
Gross Realized Losses	60	194
Aggregate fair value of available for sale securities sold	5,500	15,800
Net realized capital gains (losses)	26	156
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	70	333
Gross Realized Losses	60	178
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	16	17
Gross Realized Losses	$ 0	$ 16

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	Mar. 31, 2018	Dec. 31, 2017
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 14,122	$ 13,361
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	$ 220	$ 251
Fixed maturity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 12,397	$ 12,772
Other Securities, Percent of Total	88.00%	96.00%
Fixed maturity securities | U.S. government and government sponsored entities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 2,777	$ 2,802
Other Securities, Percent of Total	20.00%	21.00%
Fixed maturity securities | Non-U.S. governments
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 54	$ 57
Other Securities, Percent of Total	0.00%	1.00%
Fixed maturity securities | Corporate debt
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,803	$ 1,909
Other Securities, Percent of Total	13.00%	14.00%
Fixed maturity securities | Mortgage-backed, asset-backed and collateralized
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 7,763	$ 8,004
Other Securities, Percent of Total	55.00%	60.00%
Fixed maturity securities | Residential mortgage-backed securities (RMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,818	$ 1,885
Other Securities, Percent of Total	13.00%	14.00%
Fixed maturity securities | Commercial mortgage-backed securities (CMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 566	$ 559
Other Securities, Percent of Total	4.00%	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	$ 5,379	$ 5,560
Other Securities, Percent of Total	38.00%	42.00%
Equity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,725	$ 589
Other Securities, Percent of Total	12.00%	4.00%

INVESTMENTS (Details - Carrying

INVESTMENTS (Details - Carrying values of other invested assets) - USD ($) $ in Millions	108 Months Ended
	Dec. 31, 2027	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Other invested assets				$ 21,183	$ 20,822
Hedge Funds
Investment [Line Items]
Hedge Fund Fair Value Redemption, Percentage		0.00%	69.00%
Hedge Fund Fair Value Redemption, Additional Percentage	31.00%
Alternative investments
Investment [Line Items]
Other invested assets				11,125	11,308
Alternative investments | Hedge Funds
Investment [Line Items]
Other invested assets				5,500	5,800
Alternative investments | Direct private equity
Investment [Line Items]
Other invested assets				5,200	5,000
Alternative investments | Affordable Housing Partnerships
Investment [Line Items]
Other invested assets				483	543
Investment real estate
Investment [Line Items]
Other invested assets				8,636	8,258
Net of accumulated depreciation on investment in real estate				556	515
Aircraft asset investments
Investment [Line Items]
Other invested assets				201	206
All other investments
Investment [Line Items]
Other invested assets				$ 1,221	$ 1,050

INVESTMENTS (Details - Componen

INVESTMENTS (Details - Components of Net investment income) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Investment [Line Items]
Total investment income	$ 3,385	$ 3,812
Investment expenses	124	126
Net investment income	3,261	3,686
Fixed maturity securities, including short-term investments
Investment [Line Items]
Total investment income	2,610	2,667
Other fixed maturity securities
Investment [Line Items]
Total investment income	(21)	134
Equity securities
Investment [Line Items]
Total investment income	(32)	5
Interest on mortgage and other loans
Investment [Line Items]
Total investment income	450	393
Alternative investments
Investment [Line Items]
Total investment income	337	448
Real estate
Investment [Line Items]
Total investment income	31	49
Other investments
Investment [Line Items]
Total investment income	$ 10	$ 116

INVESTMENTS (Details - Compon61

INVESTMENTS (Details - Components of Net realized capital gains (losses)) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other-than-temporary impairments:
Severity	$ 0	$ 0
Change in intent	(49)	(1)
Foreign currency declines	(6)	(10)
Issuer-specific credit events	(32)	(57)
Adverse projected cash flows	0	0
Provision for loan losses	(24)	6
Foreign exchange transactions	53	159
Variable annuity embedded derivatives, net of related hedges	147	(389)
All other derivatives and hedge accounting	(225)	13
Impairments on investments in life settlements	0	(41)
Other	91	49
Total net realized capital gains (losses)	(19)	(115)
Net realized capital gains (losses)	(19)	(115)
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	10	155
Equity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	$ 16	$ 1

INVESTMENTS (Details - Increase

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (4,994)	$ 833
Unrealized gains and losses recognized during the reporting period on equity securities
Net gains and losses recognized securities during the period on equity securities	161
Less: Net gains and losses recognized during the period on equity securities sold during the period	(9)
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	170
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(4,969)	773
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	0	114
Unrealized gains and losses recognized during the reporting period on equity securities
Net gains and losses recognized securities during the period on equity securities	(31)
Less: Net gains and losses recognized during the period on equity securities sold during the period	(8)
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	(23)
Equity securities | Accounting Standards Update - Recognition and Measurement of Financial Assets and Financial Liabilities
Unrealized gains and losses recognized during the reporting period on equity securities
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	31
Other investments
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(25)	$ (54)
Other invested assets
Unrealized gains and losses recognized during the reporting period on equity securities
Net gains and losses recognized securities during the period on equity securities	192
Less: Net gains and losses recognized during the period on equity securities sold during the period	(1)
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	193
Other invested assets | Accounting Standards Update - Recognition and Measurement of Financial Assets and Financial Liabilities
Unrealized gains and losses recognized during the reporting period on equity securities
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	$ 72

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
	Mar. 31, 2018	Mar. 31, 2017
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 526	$ 1,098
Increases due to:
Credit impairments on new securities subject to impairment losses	14	17
Additional credit impairments on previously impaired securities	17	30
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(51)	(11)
Accretion on securities previously impaired due to credit	(148)	(188)
Other	0	0
Balance, end of year	$ 358	$ 946

INVESTMENTS (Details - Purchase

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 225,352		$ 225,461
Fair value	233,914		240,700
Purchased Credit Impaired (PCI) Securities
Schedule of Available-for-sale Securities [Line Items]
Contractually required payments (principal and interest)	36,711
Cash flows expected to be collected	30,121
Recorded investment in acquired securities	20,334
Outstanding principal balance	14,253		14,718
Amortized cost	10,141		10,492
Fair value	11,977		$ 12,293
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of period	7,501	$ 7,498
Newly purchased PCI securities	23	88
Disposals	0	(18)
Accretion	(187)	(210)
Effect of changes in interest rate indices	206	21
Net reclassification from non-accretable difference, including effects of prepayments	58	214
Balance, end of period	$ 7,601	$ 7,593

INVESTMENTS (Details - Pledged

INVESTMENTS (Details - Pledged Investments) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Fair value of securities collateral pledged	$ 5,020	$ 2,227
Fair value of amount sold or repledged	97	46
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	242	255
FHLBs
Investment [Line Items]
Fair value of fixed maturities securities available for sale	4,500	2,700
Amount owned by subsidiaries	192	93
Residential loans pledged as collateral	1,600	471
Secured financing
Investment [Line Items]
Fair value of fixed maturities securities available for sale	1,767	2,911
Fair value of other bond securities	1,381	1,585
Amounts Borrowed Under Repurchase and Securities Lending Agreements	3,200	4,500
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	281	1,581
Securities Lending Agreements, Fair Value of Collateral	2,867	2,915
Amounts Loaned under Reverse Repurchase Agreements	5,000	2,200
Secured financing | Overnight and continuous
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	15	44
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Up to 30 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	221	407
Securities Lending Agreements, Fair Value of Collateral	410	588
Secured financing | 31 to 90 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	45	1,130
Securities Lending Agreements, Fair Value of Collateral	2,258	2,327
Secured financing | 91 to 364 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	199	0
Secured financing | 365 Days or Greater
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	112	26
Securities Lending Agreements, Fair Value of Collateral	37	18
Secured financing | Bonds available for sale | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	40	48
Securities Lending Agreements, Fair Value of Collateral	1,578	2,819
Secured financing | Bonds available for sale | Overnight and continuous | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | Overnight and continuous | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | Up to 30 Days | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	94	7
Securities Lending Agreements, Fair Value of Collateral	0	0
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	34	13
Securities Lending Agreements, Fair Value of Collateral	235	588
Secured financing | Bonds available for sale | 31 to 90 Days | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	18	19
Securities Lending Agreements, Fair Value of Collateral	32	18
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	6	35
Securities Lending Agreements, Fair Value of Collateral	1,224	2,231
Secured financing | Bonds available for sale | 91 to 364 Days | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	5	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	0	0
Securities Lending Agreements, Fair Value of Collateral	119	0
Secured financing | Bonds available for sale | 365 Days or Greater | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | 365 Days or Greater | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Other bond securities | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	3	11
Securities Lending Agreements, Fair Value of Collateral	7	22
Secured financing | Other bond securities | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	111	1,452
Securities Lending Agreements, Fair Value of Collateral	1,245	56
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	15	44
Secured financing | Other bond securities | Overnight and continuous | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Other bond securities | Overnight and continuous | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	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	15	44
Secured financing | Other bond securities | Up to 30 Days | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	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	93	387
Securities Lending Agreements, Fair Value of Collateral	175	0
Secured financing | Other bond securities | Up to 30 Days | U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | Other bond securities | 31 to 90 Days | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	3	11
Securities Lending Agreements, Fair Value of Collateral	7	22
Secured financing | Other bond securities | 31 to 90 Days | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	18	1,065
Securities Lending Agreements, Fair Value of Collateral	995	56
Secured financing | Other bond securities | 31 to 90 Days | U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | Other bond securities | 91 to 364 Days | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Other bond securities | 91 to 364 Days | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	75	0
Secured financing | Other bond securities | 91 to 364 Days | U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | Other bond securities | 365 Days or Greater | Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral		0
Securities Lending Agreements, Fair Value of Collateral	0	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	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Other bond securities | 365 Days or Greater | U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
GIAs
Investment [Line Items]
Fair value of other bond securities	$ 1,800	$ 2,000

LENDING ACTIVITIES (Details - C

LENDING ACTIVITIES (Details - Composition of Mortgages and other loans receivable) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 38,887	$ 37,345
Allowance for losses	(347)	(322)	$ (289)	$ (297)
Mortgage and other loans receivable, net	38,540	37,023
Commercial mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	29,699	28,596
Allowance for losses	$ (274)	$ (247)	$ (207)	$ (194)
Commercial mortgages | California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	11.00%	12.00%
Commercial mortgages | New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	22.00%	23.00%
Residential Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 5,811	$ 5,398
Life insurance policy loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	2,203	2,295
Commercial loans, other loans and notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 1,174	$ 1,056

LENDING ACTIVITIES (Details -67

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgage loans) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)loan	Dec. 31, 2017USD ($)loan	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Commercial Mortgage Recorded Investment [Line Items]
Mortgage and other loans receivable, net	$ 38,540	$ 37,023
Allowance for credit losses	347	322	$ 289	$ 297
Total mortgage and other loans receivable	$ 38,887	$ 37,345
Debt Coverage Ratio	2	2.1
Average Loan to Value Ratio	61.00%	57.00%
Apartments
Commercial Mortgage Recorded Investment [Line Items]
In good standing	$ 8,790	$ 8,163
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	79	72
Allowance for credit losses	79	72
Total mortgage and other loans receivable	8,790	8,163
Offices
Commercial Mortgage Recorded Investment [Line Items]
In good standing	8,633	8,585
Restructured	115	115
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	3	3
Allowance for credit losses, General	95	94
Allowance for credit losses	98	97
Total mortgage and other loans receivable	8,748	8,700
Retail
Commercial Mortgage Recorded Investment [Line Items]
In good standing	5,190	5,338
Restructured	23	23
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	20	1
Allowance for credit losses, General	34	37
Allowance for credit losses	54	38
Total mortgage and other loans receivable	5,213	5,361
Industrial
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,573	2,023
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	9	6
Allowance for credit losses	9	6
Total mortgage and other loans receivable	2,573	2,023
Hotel
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,365	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	16	15
Allowance for credit losses	17	16
Total mortgage and other loans receivable	2,381	2,389
Others
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,994	1,960
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	17	18
Allowance for credit losses	17	18
Total mortgage and other loans receivable	$ 1,994	$ 1,960
Commercial mortgages
Commercial Mortgage Recorded Investment [Line Items]
Number of loans in good standing | loan	775	778
Number of loans restructured | loan	5	5
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	0	0
Number of Loans | loan	780	783
In good standing	$ 29,545	$ 28,442
Restructured	154	154
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	24	5
Allowance for credit losses, General	250	242
Allowance for credit losses	$ 274	$ 247
Percentage of loans that are current as to payments of principal and interest	99.00%	99.00%
Percentage restructured	1.00%	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%
Total mortgage and other loans receivable	$ 29,699	$ 28,596
Commercial mortgages | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	26,574	26,023
Commercial mortgages | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	2,524	1,964
Commercial mortgages | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	601	609
Commercial mortgages | Less than 65%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	19,976	19,876
Commercial mortgages | Less than 65% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	17,506	18,000
Commercial mortgages | Less than 65% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	2,121	1,525
Commercial mortgages | Less than 65% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	349	351
Commercial mortgages | 65% to 75%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	7,611	6,415
Commercial mortgages | 65% to 75% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	7,240	6,038
Commercial mortgages | 65% to 75% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	192	193
Commercial mortgages | 65% to 75% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	179	184
Commercial mortgages | 76% to 80%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	943	609
Commercial mortgages | 76% to 80% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	943	569
Commercial mortgages | 76% to 80% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	0	40
Commercial mortgages | 76% to 80% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	0	0
Commercial mortgages | Greater than 80%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,169	1,696
Commercial mortgages | Greater than 80% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	885	1,416
Commercial mortgages | Greater than 80% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	211	206
Commercial mortgages | Greater than 80% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	$ 73	$ 74

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	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 322	$ 297
Loans charged off	0	0
Recoveries of loans previously charged off	0	0
Net charge-offs	0	0
Provision for loan losses	25	(8)
Other	0	0
Allowance, end of period	347	289
Loans modified in a troubled debt restructuring	0	0
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	247	194
Loans charged off	0	0
Recoveries of loans previously charged off	0	0
Net charge-offs	0	0
Provision for loan losses	27	13
Other	0	0
Allowance, end of period	274	207
Allowance related to individually assessed credit losses	23	7
Commercial mortgage loans	82	266
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	75	103
Loans charged off	0	0
Recoveries of loans previously charged off	0	0
Net charge-offs	0	0
Provision for loan losses	(2)	(21)
Other	0	0
Allowance, end of period	$ 73	$ 82

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets:
Bonds available for sale	$ 233,914	$ 238,992
Other bond securities	12,397	12,772
Mortgage and other loans receivable	38,540	37,023
Other invested assets	21,183	20,822
Liabilities:
Long-term Debt	33,619	31,640
Real Estate and Investment Entities
Liabilities:
Off-balance sheet exposure	133	86
Consolidated VIE
Assets:
Bonds available for sale	8,484	9,632
Other bond securities	4,352	4,521
Mortgage and other loans receivable	2,759	2,290
Other invested assets	4,953	4,683
Other assets	2,193	2,218
Total assets	22,741	23,344
Liabilities:
Long-term Debt	4,680	4,134
Other liabilities	511	595
Total liabilities	5,191	4,729
Consolidated VIE | Real Estate and Investment Entities
Assets:
Bonds available for sale	0	0
Other bond securities	0	0
Mortgage and other loans receivable	0	0
Other invested assets	1,413	1,365
Other assets	308	302
Total assets	1,721	1,667
Liabilities:
Long-term Debt	741	680
Other liabilities	135	144
Total liabilities	876	824
Consolidated VIE | Securitization Vehicles
Assets:
Bonds available for sale	8,484	9,632
Other bond securities	4,349	4,518
Mortgage and other loans receivable	2,759	2,290
Other invested assets	201	206
Other assets	1,492	1,481
Total assets	17,285	18,127
Liabilities:
Long-term Debt	1,965	1,624
Other liabilities	164	244
Total liabilities	2,129	1,868
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total assets of consolidated securitization vehicles owed to Parent or its subsidiaries	16,700	17,600
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	3,314	3,087
Other assets	309	350
Total assets	3,623	3,437
Liabilities:
Long-term Debt	1,969	1,825
Other liabilities	187	181
Total liabilities	2,156	2,006
Consolidated VIE | Other
Assets:
Bonds available for sale	0	0
Other bond securities	3	3
Mortgage and other loans receivable	0	0
Other invested assets	25	25
Other assets	84	85
Total assets	112	113
Liabilities:
Long-term Debt	5	5
Other liabilities	25	26
Total liabilities	30	31
Unconsolidated VIE
Assets:
Other invested assets	9,600	9,800
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	378,159	387,201
Maximum Exposure to Loss, On-Balance Sheet	9,942	10,232
Maximum Exposure to Loss, Off-Balance Sheet	3,191	3,248
Total maximum exposure to loss	13,133	13,480
Unconsolidated VIE | Real Estate and Investment Entities
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	371,105	380,030
Maximum Exposure to Loss, On-Balance Sheet	9,054	9,253
Maximum Exposure to Loss, Off-Balance Sheet	1,988	2,043
Total maximum exposure to loss	11,042	11,296
Unconsolidated VIE | Affordable Housing Partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	4,146	4,468
Maximum Exposure to Loss, On-Balance Sheet	669	725
Maximum Exposure to Loss, Off-Balance Sheet	0	0
Total maximum exposure to loss	669	725
Unconsolidated VIE | Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	2,908	2,703
Maximum Exposure to Loss, On-Balance Sheet	219	254
Maximum Exposure to Loss, Off-Balance Sheet	1,203	1,205
Total maximum exposure to loss	$ 1,422	$ 1,459

DERIVATIVES AND HEDGE ACCOUNT70

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of our derivative instruments) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	$ 108,397	$ 106,687
Gross Derivative Assets, Fair Value	3,631	3,545
Gross Derivative Liabilities, Notional Amount	49,157	45,888
Gross Derivative Liabilities, Fair Value	3,702	3,748
Derivative assets, Counterparty netting	(1,589)	(1,464)
Derivative assets, Cash collateral	(1,268)	(1,159)
Total derivative assets on consolidated balance sheet	774	922
Derivative liabilities, Counterparty netting	(1,589)	(1,464)
Derivative liabilities, Cash collateral	(980)	(1,249)
Total derivative liabilities on consolidated balance sheet	1,133	1,035
Bifurcated embedded derivatives
Derivative [Line Items]
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Fair Value	3,700	4,100
Derivatives designated as hedging instruments | Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	10	0
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	866	838
Gross Derivative Liabilities, Fair Value	21	15
Derivatives designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	3,236	2,823
Gross Derivative Assets, Fair Value	122	173
Gross Derivative Liabilities, Notional Amount	4,511	4,783
Gross Derivative Liabilities, Fair Value	350	350
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	0	159
Gross Derivative Liabilities, Fair Value	0	19
Derivatives not designated as hedging instruments | Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	42,688	37,751
Gross Derivative Assets, Fair Value	2,549	2,171
Gross Derivative Liabilities, Notional Amount	26,505	26,461
Gross Derivative Liabilities, Fair Value	2,182	2,185
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	8,471	6,305
Gross Derivative Assets, Fair Value	673	658
Gross Derivative Liabilities, Notional Amount	11,543	11,093
Gross Derivative Liabilities, Fair Value	867	895
Derivatives not designated as hedging instruments | Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	15,465	19,975
Gross Derivative Assets, Fair Value	268	522
Gross Derivative Liabilities, Notional Amount	4,261	1,130
Gross Derivative Liabilities, Fair Value	13	2
Derivatives not designated as hedging instruments | Credit contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	9	4
Gross Derivative Assets, Fair Value	2	1
Gross Derivative Liabilities, Notional Amount	1,412	1,365
Gross Derivative Liabilities, Fair Value	264	277
Derivatives not designated as hedging instruments | Credit contracts | CDS
Derivative [Line Items]
Gross Derivative Liabilities, Notional Amount	661	685
Gross Derivative Liabilities, Fair Value	245	254
Derivatives not designated as hedging instruments | Other contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	38,518	39,829
Gross Derivative Assets, Fair Value	17	20
Gross Derivative Liabilities, Notional Amount	59	59
Gross Derivative Liabilities, Fair Value	$ 5	$ 5

DERIVATIVES AND HEDGE ACCOUNT71

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) - USD ($) $ in Billions	Mar. 31, 2018	Dec. 31, 2017
Collateral
Collateral posted to third parties for derivative transactions	$ 2.7	$ 2.9
Collateral obtained from third parties for derivative transactions	$ 1.4	$ 1.3

DERIVATIVES AND HEDGE ACCOUNT72

DERIVATIVES AND HEDGE ACCOUNTING (Details - Hedge Accounting) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	$ 0	$ (120)	$ 0	$ (42)
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		(8)		(1)
Gain (loss) recognized in earnings on hedged items		9		1
Gain (loss) recognized in earnings for ineffective portion		1		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0		0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		0		0
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 derivatives		0
Gain (loss) recognized in earnings on hedged items		0		0
Gain (loss) recognized in earnings for ineffective portion		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		0		0
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
Gain (loss) recognized in earnings on hedged items		0		0
Gain (loss) recognized in earnings for ineffective portion		0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0		0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		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		(41)		52
Gain (loss) recognized in earnings on hedged items		8		(42)
Gain (loss) recognized in earnings for ineffective portion		0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		(33)		10
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		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
Gain (loss) recognized in earnings for ineffective portion				0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net				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 derivatives		0		0
Gain (loss) recognized in earnings on hedged items		0		1
Gain (loss) recognized in earnings for ineffective portion		0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0		0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		0		1
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
Gain (loss) recognized in earnings on hedged items		0		0
Gain (loss) recognized in earnings for ineffective portion		0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0		0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		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		0		(2)
Gain (loss) recognized in earnings on hedged items		0		0
Gain (loss) recognized in earnings for ineffective portion		0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0		(2)
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		0		0
Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		9		(333)
Derivatives not designated as hedging instruments | Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(13)		(384)
Derivatives not designated as hedging instruments | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(4)		(2)
Derivatives not designated as hedging instruments | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		12		33
Derivatives not designated as hedging instruments | Policy fees
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		17		20
Derivatives not designated as hedging instruments | Policyholder benefits and claims incurred
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(3)		0
Derivatives not designated as hedging instruments | Fair value hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		9		(333)
Derivatives not designated as hedging instruments | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(398)		(152)
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(139)		(46)
Derivatives not designated as hedging instruments | Equity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(73)		(314)
Derivatives not designated as hedging instruments | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		0		0
Derivatives not designated as hedging instruments | Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		11		15
Derivatives not designated as hedging instruments | Other contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		17		18
Derivatives not designated as hedging instruments | Embedded derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		$ 591		$ 146

DERIVATIVES AND HEDGE ACCOUNT73

DERIVATIVES AND HEDGE ACCOUNTING (Details - Additional Information) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Credit Derivatives [Line Items]
Collateral posted	$ 2,700	$ 2,900
Fair value of hybrid securities	4,200	4,400
Par value of hybrid securities	8,900	9,100
Credit Risk Related Contingent Features [Member]
Credit Derivatives [Line Items]
Collateral posted	557	676
Aggregate fair value of net liability position	521	$ 572
Additional collateral postings and termination payments	$ 81
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
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Jan. 20, 2017
Supplementary Insurance Information, by Segment [Line Items]
Collateral Held For Deductible Recoverable Amounts	$ 9,500		$ 9,500
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense:
Liability for unpaid loss and loss adjustment expenses, beginning of year	78,393	$ 77,077
Reinsurance recoverable, balance at the beginning of the year	(26,708)	(15,532)
Net Liability for unpaid loss and loss adjustment expenses, beginning of year	51,685	61,545
Losses and loss adjustment expenses incurred
Current year	4,698	4,300
Prior years, excluding discount and amortization of deferred gain	(40)	63
Prior years, discount charge (benefit)	(205)	(25)
Prior years, amortization of deferred gain on retroactive reinsurance	(39)	(38)
Total losses and loss adjustment expenses incurred	4,414	4,300
Losses and loss adjustment expenses paid
Current year	(610)	(571)
Prior years	(4,779)	(4,753)
Total losses and loss adjustment expenses paid	(5,389)	(5,324)
Other changes
Foreign exchange effect	274	(105)
Acquisitions	0	0
Retroactive reinsurance adjustment (net of discount)	(97)	(11,199)
Reclassified to liabilities held for sale	0	87
Total other changes	177	(11,391)
Net liability for unpaid losses and loss adjustment expenses, balance at end of year	50,887	49,130
Reinsurance recoverable, balance at the end of the year	27,211	26,920
Total, balance at the end of the year	78,098	76,050
U.S. Commercial long-tail exposures | NICO | Accident Years 2015 and Prior
Other changes
Discount on retroactive reinsurance	$ 128	$ 1,700
Risk Transferred - U.S. Commercial long-tail exposures for accident years 2015 and prior, percent				80.00%
Reinsurance Percent Ceded on Paid Losses Percent				80.00%
Ceded to NICO net paid losses in excess				$ 25,000
Ceded to NICO net paid losses in excess, aggregate limit				25,000
NICO's limit of liability under the contract				20,000
Consideration paid, including interest				$ 10,200

INSURANCE LIABILITIES (Detail75

INSURANCE LIABILITIES (Details - Narratives) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Insurance Liabilities Disclosure [Line Items]
Collateral Held For Deductible Recoverable Amounts	$ 9,500		$ 9,500
Liability for Claims and Claims Adjustment Expense	78,098	$ 76,050	78,393	$ 77,077
Net liability for unpaid losses and loss adjustment expenses as presented in the disaggregated tables below (Last 10 Years)	50,887	49,130	51,685	$ 61,545
Contractual deductible recoverable amount	12,300		12,600
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount	$ 1,921		1,844
Tabular Discount Rate	3.50%
(Increase) Decrease in Loss Reserve Discount	$ 205	25
Legacy General Insrance Run-Off Lines
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount	936		$ 918
(Increase) Decrease in Loss Reserve Discount	$ 18	$ 2

INSURANCE LIABILITIES (Detail76

INSURANCE LIABILITIES (Details - Discounting of Reserves) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Discounting of Reserves [Line Items]
Tabular Discount Rate	3.50%
U.S. Workers' compensation	$ 3,588		$ 3,383
Retroactive Reinsurance	(1,667)		(1,539)
Total reserve discount	1,921		1,844
Current accident year	19	$ 32
Accretion and other adjustments to prior year discount	27	(64)
Effect of interest rate changes	159	57
Net reserve discount (benefit) charge	205	25
Change in discount on loss reserves ceded under retroactive reinsurance	(128)	(1,655)
Net change in total reserve discount	77	(1,630)
U.S. Workers Compensation
Discounting of Reserves [Line Items]
Workers Compensation Tabular Discount Amount	622
Workers Compensation Non Tabular Discount Amount			1,300
North America Commerical Insurance
Discounting of Reserves [Line Items]
U.S. Workers' compensation	2,652		2,465
Retroactive Reinsurance	(1,667)		(1,539)
Total reserve discount	985		926
Current accident year	19	32
Accretion and other adjustments to prior year discount	45	(48)
Effect of interest rate changes	123	39
Net reserve discount (benefit) charge	187	23
Change in discount on loss reserves ceded under retroactive reinsurance	(128)	(1,655)
Net change in total reserve discount	59	(1,632)
Legacy General Insrance Run-Off Lines
Discounting of Reserves [Line Items]
U.S. Workers' compensation	936		918
Retroactive Reinsurance	0		0
Total reserve discount	936		$ 918
Current accident year	0	0
Accretion and other adjustments to prior year discount	(18)	(16)
Effect of interest rate changes	36	18
Net reserve discount (benefit) charge	18	2
Change in discount on loss reserves ceded under retroactive reinsurance	0	0
Net change in total reserve discount	$ 18	2
New York | U.S. Workers Compensation
Discounting of Reserves [Line Items]
Nontabular discount rate	5.00%
Pennsylvania | U.S. Workers Compensation
Discounting of Reserves [Line Items]
Nontabular discount rate	6.00%
United Kingdom
Discounting of Reserves [Line Items]
Net reserve discount (benefit) charge	$ 177	173
Net change in total reserve discount	$ (5)	$ (1)

CONTINGENCIES, COMMITMENTS AN77

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) $ in Billions	Jun. 15, 2015USD ($)	Sep. 16, 2013individual	Mar. 11, 2013class	Nov. 21, 2011	Mar. 31, 2018USD ($)
Other Commitments
Other Commitments					$ 2.9
Starr International Litigation
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed | class			2
Damages claimed	$ 40
Percentage of ownership in AIG received by Department of the Treasury				80.00%
Number of shareholders who have submitted timely and valid requests to opt into the class | individual		286,908

CONTINGENCIES, COMMITMENTS AN78

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) $ in Millions	Mar. 31, 2018USD ($)
Other Operations
Guarantor Obligations [Line Items]
Amount outstanding under standby letters of credit at end of period	$ 85

EQUITY (Details - Shares Outsta

EQUITY (Details - Shares Outstanding) - USD ($)	May 02, 2018	Mar. 29, 2018	Mar. 29, 2017	Mar. 31, 2018	Mar. 31, 2017	May 03, 2017
The following table presents a roll forward of outstanding shares:
Shares, beginning of year				(1,007,626,835)
Shares, beginning of year				1,906,671,492
Shares, beginning of year				899,044,657
Issuances (in shares)				4,021,554
Shares repurchased				(5,384,703)	(56,000,000)
Shares, end of period				(1,008,989,984)
Shares, end of period				1,906,671,492
Shares, end of period				897,681,508
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
Date of Shareholders of Record		Mar. 15, 2018	Mar. 15, 2017
Shares repurchased (in shares)				5,384,703	56,000,000
Payments for Repurchase of Common Stock				$ 298,000,000	$ 3,585,000,000
Amount paid to purchase warrants				$ 2,000,000	$ 0
Warrants repurchased				97,553	0
Subsequent event
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Date of Shareholders of Record	Jun. 14, 2018
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				$ 2,000,000,000
Treasury Stock
The following table presents a roll forward of outstanding shares:
Shares, beginning of year				(1,007,626,835)
Issuances (in shares)				4,021,554
Shares repurchased				(5,384,703)
Shares, end of period				(1,008,989,984)
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Shares repurchased (in shares)				5,384,703

EQUITY (Details - Rollforward o

EQUITY (Details - Rollforward of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	$ 5,465
Cumulative effect of change in accounting principle	(8)
Deferred tax asset (liability)	734	$ 10
Total other comprehensive income (loss)	(2,669)	551
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	158	(276)
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment	29	18
Balance, end of period, net of tax	2,220
Accumulated Other Comprehensive Income
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	5,465	3,230
Cumulative effect of change in accounting principle	(576)
Change in unrealized appreciation (depreciation) of investments	(4,994)	833
Change in deferred acquisition costs adjustment and other	664	70
Change in future policy benefits	741	(86)
Changes in foreign currency translation adjustments	172	(304)
Change in net actuarial gain (loss)	16	25
Change in prior service cost (credit)	(4)	3
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	2
Deferred tax asset (liability)	(734)	(10)
Total other comprehensive income (loss)	(2,669)	551
Balance, end of period, net of tax	2,220	3,781
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Other-Than-Temporary Credit Impairments Were Recognized
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	793	426
Cumulative effect of change in accounting principle	169
Change in unrealized appreciation (depreciation) of investments	(240)	143
Change in deferred acquisition costs adjustment and other	30	32
Change in future policy benefits	0	0
Deferred tax asset (liability)	60	(61)
Total other comprehensive income (loss)	(150)	114
Noncontrolling interests	0	0
Balance, end of period, net of tax	812	540
Unrealized Appreciation (Depreciation) of All Other Investments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	7,693	6,405
Cumulative effect of change in accounting principle	(285)
Change in unrealized appreciation (depreciation) of investments	(4,754)	690
Change in deferred acquisition costs adjustment and other	634	38
Change in future policy benefits	741	(86)
Deferred tax asset (liability)	671	53
Total other comprehensive income (loss)	(2,708)	695
Noncontrolling interests	0	0
Balance, end of period, net of tax	4,700	7,100
Foreign Currency Translation Adjustments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	(2,090)	(2,629)
Cumulative effect of change in accounting principle	(284)
Change in unrealized appreciation (depreciation) of investments	0	0
Changes in foreign currency translation adjustments	172	(304)
Deferred tax asset (liability)	(14)	28
Total other comprehensive income (loss)	158	(276)
Noncontrolling interests	0	0
Balance, end of period, net of tax	(2,216)	(2,905)
Retirement Plan Liabilities Adjustment
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	(931)	(972)
Cumulative effect of change in accounting principle	(183)
Change in unrealized appreciation (depreciation) of investments	0	0
Change in net actuarial gain (loss)	16	25
Change in prior service cost (credit)	(4)	3
Deferred tax asset (liability)	17	(10)
Total other comprehensive income (loss)	29	18
Noncontrolling interests	0	0
Balance, end of period, net of tax	(1,085)	(954)
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Own Credit Risk
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	0	0
Cumulative effect of change in accounting principle	7
Change in unrealized appreciation (depreciation) of investments	0	0
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	2
Deferred tax asset (liability)	0	0
Deferred tax asset (liability), Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss	0	0
Total other comprehensive income (loss)	2	0
Noncontrolling interests	0	0
Balance, end of period, net of tax	$ 9	$ 0

EQUITY (Details - Other compreh

EQUITY (Details - Other comprehensive income reclassification adjustments) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	$ (3,417)	$ 739
Less: Reclassification adjustments included in net income	(14)	198
Total other comprehensive income (loss), before income tax expense (benefit)	(3,403)	541
Less: Income tax expense (benefit)	(734)	(10)
Other comprehensive income (loss)	(2,669)	551
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Other-Than-Temporary Credit Impairments Were Recognized
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(208)	190
Less: Reclassification adjustments included in net income	2	15
Total other comprehensive income (loss), before income tax expense (benefit)	(210)	175
Less: Income tax expense (benefit)	(60)	61
Other comprehensive income (loss)	(150)	114
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(3,386)	835
Less: Reclassification adjustments included in net income	(7)	193
Total other comprehensive income (loss), before income tax expense (benefit)	(3,379)	642
Less: Income tax expense (benefit)	(671)	(53)
Other comprehensive income (loss)	(2,708)	695
Foreign Currency Translation Adjustments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	172	(304)
Less: Reclassification adjustments included in net income	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	172	(304)
Less: Income tax expense (benefit)	14	(28)
Other comprehensive income (loss)	158	(276)
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	3	18
Less: Reclassification adjustments included in net income	(9)	(10)
Total other comprehensive income (loss), before income tax expense (benefit)	12	28
Less: Income tax expense (benefit)	(17)	10
Other comprehensive income (loss)	29	18
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Own Credit Risk
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	2	0
Less: Reclassification adjustments included in net income	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	2	0
Less: Income tax expense (benefit)	0	0
Other comprehensive income (loss)	$ 2	$ 0

EQUITY (Details - Reclassificat

EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investments	$ 68	$ (55)
Deferred acquisition costs adjustment	1,358	1,108
Future policy benefits	5,667	6,047
Total	(14)	198
Income from continuing operations before income tax expense (benefit)	1,227	1,727
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)	(14)	198
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were recognized
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	2	15
Unrealized appreciation (depreciation) of fixed maturity securities 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]
Investments	2	15
Total	2	15
Unrealized appreciation (depreciation) of all other investments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	(7)	193
Unrealized appreciation (depreciation) of all other investments | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investments	24	140
Deferred acquisition costs adjustment	(31)	53
Future policy benefits	0	0
Total	(7)	193
Change in retirement plan liabilities adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	(9)	(10)
Change in retirement plan liabilities adjustment | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior-service credit	0	0
Actuarial gains (losses)	(9)	(10)
Total	$ (9)	$ (10)

EARNINGS PER SHARE (EPS) (Detai

EARNINGS PER SHARE (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator for EPS:
Income (Loss) from Continuing Operations	$ 950	$ 1,211
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	26
Net income (loss) attributable to AIG common shareholders from continuing operations	939	1,185
Income (loss) from discontinued operations, net of income tax expense	(1)	0
Net income (loss) attributable to AIG common shareholders	$ 938	$ 1,185
Denominator for EPS:
Weighted average shares outstanding - basic	907,951,597	980,777,243
Dilutive shares	17,314,980	24,537,787
Weighted average shares outstanding - diluted	925,266,577	1,005,315,030
Basic:
Income (loss) from continuing operations	$ 1.03	$ 1.21
Income (loss) from discontinued operations	0	0
Net income (loss) attributable to AIG	1.03	1.21
Diluted:
Income (loss) from continuing operations	1.01	1.18
Income (loss) from discontinued operations	0	0
Net Income (loss) attributable to AIG	$ 1.01	$ 1.18
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive	700,000	1,800,000

EMPLOYEE BENEFITS (Details - Co

EMPLOYEE BENEFITS (Details - Components of net periodic benefit cost with respect to pensions and other postretirement benefits) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pensions
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 8	$ 14
Interest cost	45	47
Expected return on assets	(78)	(70)
Amortization of prior service (credit) cost	1	0
Amortization of net (gain) loss	9	10
Net periodic benefit cost (credit)	(15)	1
Pensions | U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	6
Interest cost	41	43
Expected return on assets	(71)	(64)
Amortization of prior service (credit) cost	0	0
Amortization of net (gain) loss	7	7
Net periodic benefit cost (credit)	(21)	(8)
Pensions | Non U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	8
Interest cost	4	4
Expected return on assets	(7)	(6)
Amortization of prior service (credit) cost	1	0
Amortization of net (gain) loss	2	3
Net periodic benefit cost (credit)	6	9
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1
Interest cost	2	3
Expected return on assets	0	0
Amortization of prior service (credit) cost	0	0
Amortization of net (gain) loss	0	0
Net periodic benefit cost (credit)	2	4
Postretirement Plans | U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Interest cost	2	2
Expected return on assets	0	0
Amortization of prior service (credit) cost	0	0
Amortization of net (gain) loss	0	0
Net periodic benefit cost (credit)	2	2
Postretirement Plans | Non U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1
Interest cost	0	1
Expected return on assets	0	0
Amortization of prior service (credit) cost	0	0
Amortization of net (gain) loss	0	0
Net periodic benefit cost (credit)	$ 0	$ 2

INCOME TAXES (Details - U.S. TA

INCOME TAXES (Details - U.S. TAX REFORM OVERVIEW) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax [Line Items]
U.S. federal income tax at statutory rate (as a percent)	21.00%	35.00%
Impact of Tax Act			$ 6,700
Tax charge attributable to the reduction in the U.S. corporate income tax			6,700
Tax benefit related to the deemed repatriation tax			$ 38
Tax Act Discount Period Extension, Minimum	10 years
Tax Act Discount Period Extension, Maximum	24 years

INCOME TAXES (Details - EFFECTI

INCOME TAXES (Details - EFFECTIVE TAX RATE) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2017
Income (loss) from continuing operations before income tax expense (benefit)
Income (loss) from continuing operations before income tax expense (benefit)		$ 1,227		$ 1,727
U.S.:
Income tax expense (benefit)		277		516
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)		1,227		1,727
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)		277		$ 516
Adjustments:
Reclassifications from accumulated other comprehensive income		248
Impact of Tax Act					$ 6,700
Valuation allowance
Increase (Decrease) in certain other valuation allowances associated with foreign jurisdictions	$ 0	30
Increase (Decrease) in certain other valuation allowances associated with certain state jurisdictions.	$ 0	0
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)		21.00%		35.00%
Adjustments:
Amounts attributable to continuing operations (as a percent)	0.00%	22.60%	0.00%	29.90%
Accounting for Uncertainty in Income Taxes
Unrecognized tax benefits, excluding interest and penalties		$ 4,700			4,700
Unrecognized tax benefits, if recognized would not affect the effective tax rate		52			28
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate		4,700			4,700
Unrecognized tax benefits, interest and penalties accrued		2,100			$ 2,000
Unrecognized tax benefits, interest net of the federal benefit (expense) and penalties		(54)		$ (17)
Decrease in Unrecognized Tax Benefits is Reasonably Possible in the next twelve months		$ 3,900
U.S. taxable income from life companies offset by those net operating loss carryforwards		35.00%

INCOME TAXES (Details - Assessm

INCOME TAXES (Details - Assessment of Deferred Tax Asset (liabilities) Valuation Allowance) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2018	Jun. 30, 2018
Non-Life Companies [Member]
Deferred Tax Assets, Liabilities [Line Items]
Deferred tax asset valuation allowance allocated to other comprehensive income	$ 0	$ 0
Life Insurance Companies [Member]
Deferred Tax Assets, Liabilities [Line Items]
Deferred tax asset valuation allowance allocated to other comprehensive income	$ 0	$ 0

INFORMATION PROVIDED IN CONNE88

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Balance Sheets) - USD ($) $ in Millions	Mar. 31, 2018		Dec. 31, 2017	Mar. 31, 2017		Dec. 31, 2016
Assets:
Short-term investments	$ 14,616		$ 10,386
Other investments	307,759		311,906
Total investments	322,375		322,292
Cash	2,103		2,362	$ 1,918
Loans to subsidiaries	0
Investment in consolidated subsidiaries	0
Other assets, including deferred income taxes	174,665		173,647
Total assets	499,143		498,301
Liabilities:
Insurance liabilities	284,657		282,105
Long-term Debt	33,619		31,640
Other liabilities, including intercompany balances	117,510		118,848
Loans from subsidiaries	0
Total liabilities	435,786		432,593
Total AIG shareholders' equity	62,792		65,171
Non-redeemable noncontrolling interests	565		537
Total equity	63,357		65,708	74,667		$ 76,858
Total liabilities and equity	499,143		498,301
Other Assets
Assets:
Restricted cash	221	[1]	317	213	[1]
Short-term investments
Assets:
Restricted cash	47	[1]	58	61	[1]
AIG (As Guarantor)
Assets:
Short-term investments	6,031		2,541
Other investments	4,814		6,004
Total investments	10,845		8,545
Cash	4		3	2
Loans to subsidiaries	34,747		35,004
Investment in consolidated subsidiaries	37,224		40,135
Other assets, including deferred income taxes	15,932		16,016
Total assets	98,752		99,703
Liabilities:
Insurance liabilities	0
Long-term Debt	23,038		21,557
Other liabilities, including intercompany balances	12,343		12,458
Loans from subsidiaries	579		517
Total liabilities	35,960		34,532
Total AIG shareholders' equity	62,792		65,171
Total equity	62,792		65,171
Total liabilities and equity	98,752		99,703
AIG (As Guarantor) | Other Assets
Assets:
Restricted cash	1		1	1
AIG (As Guarantor) | Short-term investments
Assets:
Restricted cash	15		4	7
AIGLH
Assets:
Cash	5		20	11
Investment in consolidated subsidiaries	28,741		30,359
Other assets, including deferred income taxes	166		170
Total assets	28,912		30,549
Liabilities:
Insurance liabilities	0
Long-term Debt	642		642
Other liabilities, including intercompany balances	133		143
Loans from subsidiaries	0		0
Total liabilities	775		785
Total AIG shareholders' equity	28,137		29,764
Total equity	28,137		29,764
Total liabilities and equity	28,912		30,549
AIGLH | Other Assets
Assets:
Restricted cash	0			0
AIGLH | Short-term investments
Assets:
Restricted cash	0			0
Other Subsidiaries
Assets:
Short-term investments	11,764		11,559
Other investments	302,945		305,902
Total investments	314,709		317,461
Cash	2,094		2,339	1,905
Loans to subsidiaries	579		517
Other assets, including deferred income taxes	160,755		159,594
Total assets	478,137		479,911
Liabilities:
Insurance liabilities	284,657		282,105
Long-term Debt	9,939		9,441
Other liabilities, including intercompany balances	110,443		112,275
Loans from subsidiaries	34,749		35,004
Total liabilities	439,788		438,825
Total AIG shareholders' equity	37,784		40,549
Non-redeemable noncontrolling interests	565		537
Total equity	38,349		41,086
Total liabilities and equity	478,137		479,911
Other Subsidiaries | Other Assets
Assets:
Restricted cash	220		316	212
Other Subsidiaries | Short-term investments
Assets:
Restricted cash	32		54	$ 54
Reclassification and Eliminations
Assets:
Short-term investments	(3,179)		(3,714)
Other investments	0
Total investments	(3,179)		(3,714)
Cash	0		0
Loans to subsidiaries	(35,326)		(35,521)
Investment in consolidated subsidiaries	(65,965)		(70,494)
Other assets, including deferred income taxes	(2,188)		(2,133)
Total assets	(106,658)		(111,862)
Liabilities:
Insurance liabilities	0
Long-term Debt	0
Other liabilities, including intercompany balances	(5,409)		(6,028)
Loans from subsidiaries	(35,328)		(35,521)
Total liabilities	(40,737)		(41,549)
Total AIG shareholders' equity	(65,921)		(70,313)
Total equity	(65,921)		(70,313)
Total liabilities and equity	$ (106,658)		$ (111,862)
[1]	Includes funds held for tax sharing payments to AIG Parent, security deposits for certain leased aircraft and escrow funds, security deposits and replacement reserve deposits related to our affordable housing investments.

INFORMATION PROVIDED IN CONNE89

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Income (Loss)) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Other income	$ 11,712	$ 12,632
Total revenues	11,712	12,632
Expenses:
Interest expense	277	298
(Gains) losses on extinguishment of debt	4	(1)
Other expenses	10,204	10,608
Total benefits, losses and expenses	10,485	10,905
Income (loss) from continuing operations before income tax expense (benefit)	1,227	1,727
Income tax expense (benefit)	277	516
Income (loss) from continuing operations	950	1,211
Income (loss) from discontinued operations	(1)	0
Net income (loss)	949	1,211
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	26
Net income (loss) attributable to AIG	938	1,185
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries	1,033	1,462
Other income	258	196
Total revenues	1,291	1,658
Expenses:
Interest expense	220	242
(Gains) losses on extinguishment of debt	0	0
Other expenses	152	335
Total benefits, losses and expenses	372	577
Income (loss) from continuing operations before income tax expense (benefit)	919	1,081
Income tax expense (benefit)	(19)	(104)
Income (loss) from continuing operations	938	1,185
Income (loss) from discontinued operations	0	0
Net income (loss)	938	1,185
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0
Net income (loss) attributable to AIG	938	1,185
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries	722	600
Other income	0	0
Total revenues	722	600
Expenses:
Interest expense	12	12
(Gains) losses on extinguishment of debt	0	0
Other expenses	1	1
Total benefits, losses and expenses	13	13
Income (loss) from continuing operations before income tax expense (benefit)	709	587
Income tax expense (benefit)	3	(4)
Income (loss) from continuing operations	706	591
Income (loss) from discontinued operations	0	0
Net income (loss)	706	591
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0
Net income (loss) attributable to AIG	706	591
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries	0	0
Other income	11,512	12,382
Total revenues	11,512	12,382
Expenses:
Interest expense	48	46
(Gains) losses on extinguishment of debt	4	(1)
Other expenses	10,106	10,325
Total benefits, losses and expenses	10,158	10,370
Income (loss) from continuing operations before income tax expense (benefit)	1,354	2,012
Income tax expense (benefit)	293	624
Income (loss) from continuing operations	1,061	1,388
Income (loss) from discontinued operations	(1)	0
Net income (loss)	1,060	1,388
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	26
Net income (loss) attributable to AIG	1,049	1,362
Reclassification and Eliminations
Revenues:
Equity in earnings of consolidated subsidiaries	(1,755)	(2,062)
Other income	(58)	54
Total revenues	(1,813)	(2,008)
Expenses:
Interest expense	(3)	(2)
(Gains) losses on extinguishment of debt	0	0
Other expenses	(55)	(53)
Total benefits, losses and expenses	(58)	(55)
Income (loss) from continuing operations before income tax expense (benefit)	(1,755)	(1,953)
Income tax expense (benefit)	0	0
Income (loss) from continuing operations	(1,755)	(1,953)
Income (loss) from discontinued operations	0	0
Net income (loss)	(1,755)	(1,953)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0
Net income (loss) attributable to AIG	$ (1,755)	$ (1,953)

INFORMATION PROVIDED IN CONNE90

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Comprehensive Income (Loss)) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ 949	$ 1,211
Other Comprehensive Income (Loss)	(2,669)	551
Comprehensive income (loss)	(1,720)	1,762
Total comprehensive income (loss) attributable to noncontrolling interests	11	26
Comprehensive income (loss) attributable to AIG	(1,731)	1,736
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	938	1,185
Other Comprehensive Income (Loss)	(2,669)	551
Comprehensive income (loss)	(1,731)	1,736
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	(1,731)	1,736
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	706	591
Other Comprehensive Income (Loss)	4,950	4,660
Comprehensive income (loss)	5,656	5,251
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	5,656	5,251
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,060	1,388
Other Comprehensive Income (Loss)	14,655	51,030
Comprehensive income (loss)	15,715	52,418
Total comprehensive income (loss) attributable to noncontrolling interests	11	26
Comprehensive income (loss) attributable to AIG	15,704	52,392
Reclassification and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(1,755)	(1,953)
Other Comprehensive Income (Loss)	(19,605)	(55,690)
Comprehensive income (loss)	(21,360)	(57,643)
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	$ (21,360)	$ (57,643)

INFORMATION PROVIDED IN CONNE91

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018		Dec. 31, 2017	Mar. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ (938)	$ (10,336)
Cash flows from investing activities:
Sales of investments	14,471	26,699
Sale of divested businesses, net	6	24
Purchase of investments	(12,763)	(13,177)
Loans to subsidiaries - net	0	0
Contributions from (to) subsidiaries - net	0	0
Net change in short-term investments	(3,040)	1,250
Other, net	(646)	(297)
Net cash provided by (used in) investing activities	(1,972)	14,499
Cash flows from financing activities:
Issuance of long-term debt	3,039	151
Repayments of long-term debt	(1,327)	(602)
Purchase of Common Stock	(298)	(3,585)
Intercompany loans - net	0	0
Cash dividends paid	(289)	(307)
Other, net	1,361	295
Net cash provided by (used in) financing activities	2,486	(4,048)
Effect of exchange rate changes on cash and restricted cash	58	(82)
Change in cash and restricted cash	(366)	33
Cash and restricted cash at beginning of year	2,737	2,107
Change in cash of businesses held for sale			$ 0			$ 52
Cash and restricted cash at end of period	2,371	2,192
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			2,103		$ 2,362	1,918
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	2,371	2,192	2,371		2,737	2,192
Interest:
Third party	(357)	(354)
Intercompany	0	0
Taxes:
Income tax authorities	(28)	(68)
Intercompany	0	0
Other Assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			221	[1]	317	213	[1]
Short-term investments
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			47	[1]	58	61	[1]
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	9	651
Cash flows from investing activities:
Sales of investments	1,322	2,699
Sale of divested businesses, net	0	0
Purchase of investments	(39)	(890)
Loans to subsidiaries - net	422	(56)
Contributions from (to) subsidiaries - net	153	206
Net change in restricted cash	0
Net change in short-term investments	(2,460)	1,477
Other, net	(79)	(5)
Net cash provided by (used in) investing activities	(681)	3,431
Cash flows from financing activities:
Issuance of long-term debt	2,472	0
Repayments of long-term debt	1,107	0
Purchase of Common Stock	(298)	(3,585)
Intercompany loans - net	60	(183)
Cash dividends paid	(289)	(307)
Other, net	(154)	0
Net cash provided by (used in) financing activities	684	(4,075)
Change in cash and restricted cash	12	7
Cash and restricted cash at beginning of year	8	3
Change in cash of businesses held for sale						0
Cash and restricted cash at end of period	20	10
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			4		3	2
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	20	10	20		8	10
Interest:
Third party	(260)	(288)
Intercompany	0	0
Taxes:
Income tax authorities	(9)	(14)
Intercompany	403	1,090
Non-cash financing and investing activities:
Return of capital	2,706	0
Dividends received in the form of securities	60	150
Capital contributions	2,339	198
AIG (As Guarantor) | Other Assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			1		1	1
AIG (As Guarantor) | Short-term investments
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			15		4	7
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	362	(23)
Cash flows from investing activities:
Sales of investments	0	0
Sale of divested businesses, net		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
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	0
Purchase of Common Stock	0	0
Intercompany loans - net	0	0
Cash dividends paid	(377)	0
Other, net	0	0
Net cash provided by (used in) financing activities	(377)	0
Change in cash and restricted cash	(15)	(23)
Cash and restricted cash at beginning of year	20	34
Change in cash of businesses held for sale						0
Cash and restricted cash at end of period	5	11
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			5		20	11
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	5	11	5		20	11
Interest:
Third party	0	(23)
Intercompany	0	0
Taxes:
Income tax authorities	0	0
Intercompany	0	0
AIGLH | Other Assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			0			0
AIGLH | Short-term investments
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			0			0
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(501)	(10,915)
Cash flows from investing activities:
Sales of investments	15,830	26,482
Sale of divested businesses, net	6	24
Purchase of investments	(15,405)	(14,769)
Loans to subsidiaries - net	(60)	183
Contributions from (to) subsidiaries - net	0	0
Net change in restricted cash	0
Net change in short-term investments	(580)	(227)
Other, net	(567)	(292)
Net cash provided by (used in) investing activities	(776)	11,401
Cash flows from financing activities:
Issuance of long-term debt	567	151
Repayments of long-term debt	220	602
Purchase of Common Stock	0	0
Intercompany loans - net	(422)	56
Cash dividends paid	(431)	(49)
Other, net	1,362	89
Net cash provided by (used in) financing activities	856	(355)
Effect of exchange rate changes on cash and restricted cash	58	(82)
Change in cash and restricted cash	(363)	49
Cash and restricted cash at beginning of year	2,709	2,070
Change in cash of businesses held for sale						52
Cash and restricted cash at end of period	2,346	2,171
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			2,094		2,339	1,905
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	2,346	2,171	2,346		2,709	2,171
Interest:
Third party	(97)	(43)
Intercompany	0	0
Taxes:
Income tax authorities	(19)	(54)
Intercompany	(403)	(1,090)
Other Subsidiaries | Other Assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			220		316	212
Other Subsidiaries | Short-term investments
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			32		54	54
Reclassification and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(808)	(49)
Cash flows from investing activities:
Sales of investments	(2,681)	(2,482)
Sale of divested businesses, net	0	0
Purchase of investments	2,681	2,482
Loans to subsidiaries - net	(362)	(127)
Contributions from (to) subsidiaries - net	(153)	(206)
Net change in short-term investments		0
Other, net		0
Net cash provided by (used in) investing activities	(515)	(333)
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	0
Purchase of Common Stock		0
Intercompany loans - net	362	127
Cash dividends paid	808	49
Other, net	153	206
Net cash provided by (used in) financing activities	1,323	382
Change in cash and restricted cash	0	0
Cash and restricted cash at beginning of year	0	0
Change in cash of businesses held for sale						0
Cash and restricted cash at end of period	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			0		0
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	0	0	$ 0		$ 0	$ 0
Interest:
Third party	0	0
Intercompany	0	0
Taxes:
Income tax authorities	0	0
Intercompany	$ 0	$ 0
[1]	Includes funds held for tax sharing payments to AIG Parent, security deposits for certain leased aircraft and escrow funds, security deposits and replacement reserve deposits related to our affordable housing investments.

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	May 02, 2018	Mar. 29, 2018	Mar. 29, 2017	Mar. 31, 2018	Mar. 31, 2017
Subsequent Event [Line Items]
Dividends declared per common share				$ 0.32	$ 0.32
Date of Shareholders of Record		Mar. 15, 2018	Mar. 15, 2017
Subsequent event
Subsequent Event [Line Items]
Dividends declared per common share	$ 0.32
Date Dividends Declared	May 2, 2018
Date Dividends To Be Paid	Jun. 28, 2018
Date of Shareholders of Record	Jun. 14, 2018