American International (AIG) 10-Q 2 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 29, 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	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		884,648,470
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fixed maturity securities:
Bonds available for sale, at fair value (amortized cost: 2018 - $228,047; 2017 - $225,461)	$ 232,720	$ 238,992
Other bond securities, at fair value (See Note 6)	11,420	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 6)	1,443	589
Mortgage and other loans receivable, net of allowance (portion measured at fair value: 2018 - $0; 2017 - $5)	41,878	37,023
Other invested assets (portion measured at fair value: 2018 - $6,144; 2017 - $6,248)	19,739	20,822
Short-term investments, including restricted cash of 2018 - $28; 2017 - $58 (portion measured at fair value: 2018 - $3,633; 2017 - $2,615)	8,863	10,386
Total investments	316,063	322,292
Cash	2,741	2,362
Accrued investment income	2,524	2,356
Premiums and other receivables, net of allowance	12,238	10,248
Reinsurance assets, net of allowance	37,178	33,024
Deferred income taxes	15,088	14,033
Deferred policy acquisition costs	12,683	10,994
Other assets, including restricted cash of $354 in 2018 and $317 in 2017 (portion measured at fair value: 2018 - $950; 2017 - $922)	13,300	10,194
Separate account assets, at fair value	93,045	92,798
Total assets	504,860	498,301
Liabilities:
Liability for unpaid losses and loss adjustment expenses	81,959	78,393
Unearned premiums	20,829	19,030
Future policy benefits for life and accident and health insurance contracts	44,374	45,432
Policyholder contract deposits (portion measured at fair value: 2018 - $3,376; 2017 - $4,150)	140,491	135,602
Other policyholder funds	3,738	3,648
Other liabilities (portion measured at fair value: 2018 - $1,491; 2017 - $1,124)	26,653	26,050
Long-term debt (portion measured at fair value: 2018 - $2,311; 2017 - $2,888)	34,594	31,640
Separate account liabilities	93,045	92,798
Total liabilities	445,683	432,593
Contingencies, commitments and guarantees (see Note 11)
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 - 1,022,023,965 shares; 2017 - 1,007,626,835 shares of common stock	(48,401)	(47,595)
Additional paid-in capital	81,008	81,078
Retained earnings	21,749	21,457
Accumulated other comprehensive income (loss)	(536)	5,465
Total AIG shareholders' equity	58,586	65,171
Non-redeemable noncontrolling interests	591	537
Total equity	59,177	65,708
Total liabilities and equity	$ 504,860	$ 498,301

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical - assets and liabilities) - USD ($) $ in Millions	Sep. 30, 2018		Dec. 31, 2017
Assets:
Bonds available for sale, amortized cost	$ 228,047		$ 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	6,144		6,248
Short-term investments, portion measured at fair value	3,633		2,615
Other assets, portion measured at fair value	950		922
Liabilities:
Policyholder contract deposits, portion measured at fair value	3,376		4,150
Other liabilities, portion measured at fair value	1,491		1,124
Long-term debt, portion measured at fair value	2,311		2,888
Other Assets
Assets:
Short-term investments, restricted cash	354	[1]	317
Short-term investments
Assets:
Short-term investments, restricted cash	$ 28	[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.

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets (Parenthetical - equity) - $ / shares	Sep. 30, 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	1,022,023,965	1,007,626,835

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Premiums	$ 7,668	$ 8,063	$ 22,150	$ 23,459
Policy fees	530	728	2,057	2,177
Net investment income	3,396	3,416	9,722	10,715
Net realized capital losses:
Total other-than-temporary impairments on available for sale securities	(13)	(66)	(116)	(138)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income (loss)	(22)	(8)	(42)	(57)
Net other-than-temporary impairments on available for sale securities recognized in net income (loss)	(35)	(74)	(158)	(195)
Other realized capital losses	(476)	(848)	(207)	(911)
Total net realized capital losses	(511)	(922)	(365)	(1,106)
Other income	403	466	1,265	1,640
Total revenues	11,486	11,751	34,829	36,885
Benefits, losses and expenses:
Policyholder benefits and losses incurred	8,312	10,322	19,484	22,653
Interest credited to policyholder account balances	933	867	2,784	2,683
Amortization of deferred policy acquisition costs	1,118	912	3,813	3,135
General operating and other expenses	2,325	2,149	6,919	6,774
Interest expense	326	290	902	880
(Gain) loss on extinguishment of debt	1	1	10	(4)
Net (gain) loss on sale of divested businesses	(2)	13	(35)	173
Total benefits, losses and expenses	13,013	14,554	33,877	36,294
Income (loss) from continuing operations before income tax expense (benefit)	(1,527)	(2,803)	952	591
Income tax expense (benefit)	(307)	(1,091)	291	(18)
Income (loss) from continuing operations	(1,220)	(1,712)	661	609
Income (loss) from discontinued operations, net of income tax expense	(39)	(1)	(40)	7
Net income (loss)	(1,259)	(1,713)	621	616
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	26	5	40
Net income (loss) attributable to AIG	$ (1,259)	$ (1,739)	$ 616	$ 576
Basic:
Income (loss) from continuing operations	$ (1.37)	$ (1.91)	$ 0.72	$ 0.6
Income (loss) from discontinued operations	(0.04)	0	(0.04)	0.01
Net income (loss) attributable to AIG common shareholders	(1.41)	(1.91)	0.68	0.61
Diluted:
Income (loss) from continuing operations	(1.37)	(1.91)	0.71	0.59
Income (loss) from discontinued operations	(0.04)	0	(0.04)	0.01
Net income (loss) attributable to AIG common shareholders	$ (1.41)	$ (1.91)	$ 0.67	$ 0.6
Weighted average shares outstanding:
Basic	895,237,359	908,667,044	902,081,555	938,130,832
Diluted	895,237,359	908,667,044	916,818,269	961,295,946
Dividends declared per common share	$ 0.32	$ 0.32	$ 0.96	$ 0.96

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ (1,259)	$ (1,713)	$ 621	$ 616
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	107	97	(1,089)	330
Change in unrealized appreciation (depreciation) of all other investments	(758)	492	(4,222)	1,840
Change in foreign currency translation adjustments	(129)	325	(181)	447
Change in retirement plan liabilities adjustment	14	63	66	92
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0	0	1	0
Other comprehensive income (loss)	(766)	977	(5,425)	2,709
Comprehensive income (loss)	(2,025)	(736)	(4,804)	3,325
Total comprehensive income (loss) attributable to noncontrolling interests	0	26	5	40
Comprehensive income (loss) attributable to AIG	$ (2,025)	$ (762)	$ (4,809)	$ 3,285

Condensed Consolidated Statem_3

Condensed 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	(164)	(164)	0	140	(304)	0	0	0
Purchase of common stock	(6,275)	(6,275)	0	(6,275)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	616	576	0	0	0	576	0	40
Dividends	(884)	(884)	0	0	0	(884)	0	0
Other comprehensive income (loss)	2,709	2,709	0	0	0	0	2,709	0
Current and deferred income taxes	(4)	(4)	0	0	(4)	0	0	0
Net increase due to acquisitions and consolidations	78	0	0	0	0	0	0	78
Contributions from noncontrolling interests	13	0	0	0	0	0	0	13
Distributions to noncontrolling interests	(131)	0	0	0	0	0	0	(131)
Other	196	210	0	4	220	(14)	0	(14)
Balance at Sep. 30, 2017	73,012	72,468	4,766	(47,602)	80,976	28,389	5,939	544
Increase (Decrease) in Stockholders' Equity
Cumulative effect of change in accounting principle, net of tax	0	0	0	0	0	0	0	0
Balance at Jun. 30, 2017	74,324	73,732	4,766	(47,329)	80,913	30,420	4,962	592
Increase (Decrease) in Stockholders' Equity
Common stock issued under stock plans	0	0	0	0	0	0	0	0
Purchase of common stock	(275)	(275)	0	(275)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	(1,713)	(1,739)	0	0	0	(1,739)	0	26
Dividends	(287)	(287)	0	0	0	(287)	0	0
Other comprehensive income (loss)	977	977	0	0	0	0	977	0
Current and deferred income taxes	0	0	0	0	0	0	0	0
Net increase due to acquisitions and consolidations	32	0	0	0	0	0	0	32
Contributions from noncontrolling interests	(1)	0	0	0	0	0	0	(1)
Distributions to noncontrolling interests	(49)	0	0	0	0	0	0	(49)
Other	4	60	0	2	63	(5)	0	(56)
Balance at Sep. 30, 2017	73,012	72,468	4,766	(47,602)	80,976	28,389	5,939	544
Increase (Decrease) in Stockholders' Equity
Cumulative effect of change in accounting principle, net of tax	(8)	(8)	0	0	0	568	(576)	0
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	187	(337)	0	0	0
Purchase of common stock	(994)	(994)	0	(994)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	621	616	0	0	0	616	0	5
Dividends	858	(858)	0	0	0	(858)	0	0
Other comprehensive income (loss)	(5,425)	(5,425)	0	0	0	0	(5,425)	0
Current and deferred income taxes	0	0	0	0	0	0	0	0
Net increase due to acquisitions and consolidations	99	0	0	0	0	0	0	99
Contributions from noncontrolling interests	21	0	0	0	0	0	0	21
Distributions to noncontrolling interests	(65)	0	0	0	0	0	0	(65)
Other	228	234	0	1	267	(34)	0	(6)
Balance at Sep. 30, 2018	59,177	58,586	4,766	(48,401)	81,008	21,749	(536)	591
Increase (Decrease) in Stockholders' Equity
Cumulative effect of change in accounting principle, net of tax			0	0	0		0
Balance at Jun. 30, 2018	61,797	61,186	4,766	(48,052)	80,924	23,318	230	611
Increase (Decrease) in Stockholders' Equity
Common stock issued under stock plans	0	0	0	0	0	0	0	0
Purchase of common stock	(348)	(348)	0	(348)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	(1,259)	(1,259)	0	0	0	(1,259)	0	0
Dividends	(283)	(283)	0	0	0	(283)	0	0
Other comprehensive income (loss)	(766)	(766)	0	0	0	0	(766)	0
Current and deferred income taxes	0	0	0	0	0	0	0	0
Net increase due to acquisitions and consolidations	1	0	0	0	0	0	0	1
Contributions from noncontrolling interests	18	0	0	0	0	0	0	18
Distributions to noncontrolling interests	(38)	0	0	0	0	0	0	(38)
Other	55	56	0	(1)	84	(27)	0	(1)
Balance at Sep. 30, 2018	$ 59,177	$ 58,586	$ 4,766	$ (48,401)	$ 81,008	$ 21,749	$ (536)	$ 591

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income (loss)	$ 621	$ 616
(Income) loss from discontinued operations	40	(7)
Noncash revenues, expenses, gains and losses included in income (loss):
Net gains on sales of securities available for sale and other assets	(71)	(404)
Net (gain) loss on sale of divested businesses	(35)	173
(Gains) losses on extinguishment of debt	10	(4)
Unrealized (gains) losses in earnings - net	601	251
Equity in income from equity method investments, net of dividends or distributions	141	(16)
Depreciation and other amortization	3,813	2,806
Impairments of assets	269	669
Changes in operating assets and liabilities:
Insurance reserves	96	4,448
Premiums and other receivables and payables - net	968	300
Reinsurance assets and funds held under reinsurance treaties	(2,057)	(12,705)
Capitalization of deferred policy acquisition costs	(4,366)	(3,593)
Current and deferred income taxes - net	224	(508)
Other, net	(292)	(888)
Total adjustments	(699)	(9,471)
Net cash provided by (used in) operating activities	(38)	(8,862)
Sales or distribution of:
Available for sale securities	18,103	27,733
Other securities	3,258	2,647
Other invested assets	3,799	4,074
Divested businesses, net	10	605
Maturities of fixed maturity securities available for sale	18,305	22,126
Principal payments received on and sales of mortgage and other loans receivable	3,068	3,932
Purchases of:
Available for sale securities	(32,807)	(38,717)
Other securities	(940)	(355)
Other invested assets	(2,263)	(2,359)
Mortgage and other loans receivable	(7,918)	(6,517)
Acquisition of businesses, net of cash and restricted cash acquired	5,052	0
Net change in short-term investments	2,411	2,815
Other, net	(891)	(1,509)
Net cash provided by (used in) investing activities	(917)	14,475
Proceeds from (payments for)
Policyholder contract deposits	18,150	13,164
Policyholder contract withdrawals	(13,004)	(11,363)
Issuance of long-term debt	4,059	2,405
Repayments of long-term debt	(2,788)	(2,751)
Purchase of common stock	(994)	(6,275)
Dividends paid	(858)	(884)
Other, net	(3,232)	578
Net cash provided used in financing activities	1,333	(5,126)
Effect of exchange rate changes on cash and restricted cash	8	(22)
Net increase (decrease) in cash and restricted cash	386	465
Cash and restricted cash at beginning of year	2,737	2,107
Change in cash of businesses held for sale	0	133
Cash and restricted cash at end of period	$ 3,123	$ 2,705

Supplementary Disclosure of Con

Supplementary Disclosure of Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Cash		$ 2,741	$ 2,433
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows		3,123	2,705
Cash paid during the period for:
Interest		1,018	1,046
Taxes		67	490
Non-cash investing/financing activities:
Interest credited to policyholder contract deposits included in financing activities		2,525	2,494
Other Assets
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash	[1]	354	219
Short-term investments
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash	[1]	$ 28	$ 53
[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	9 Months Ended
	Sep. 30, 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 September 30, 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, incl uding 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 me asurements 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 t he assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected. Acquisition of Validus On July 18, 2018, we completed the purchase of Validus Holdings, Ltd. (Validus), a leading provider of re insurance, primary insurance, and asset management services, for $5.5 billion in cash. The results of Validus following the date of the acquisition are included in our General Insurance segment starting in the third quarter of 2018. Our North America resul ts include the results of Validus Reinsurance, Ltd. and Western World Insurance Group, Inc., while our International results include the results of Talbot Holdings Ltd. For additional information relating to the acquisition of Validus, see Note 4. OUT OF PERIOD ADJUSTMENTS For the three- and nine-month periods ended September 30, 2018, our results include out of period adjustments relating to prior periods that decreased n et income attributable to AIG by $205 million and $28 million, respectively, and decrease d Income from continuing operations before income taxes by $253 million and $15 million, respectively. The out of period adjustments for the three - month period are primarily related to decreases in deferred policy acquisition costs and increases in policyh older contract deposits due to the update of actuarial assumptions . We determined that these adjustments were not material to the current quarter or to any previously reported quarterly or annual financial statements .

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 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 requires 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 opt ion accounting has been elected, changes in fair value due to instrument-specific credit risk are presented separately in other comprehensive income. The standard allows the election to record equity investments without readily determinable fair values at cost, less impairment, adjusted for subsequent observable price changes with changes in the carrying value of the equity investments recorded in earnings. The standard also updates certain fair value disclosure requirements for financial instruments ca rried 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 resulting 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 accounti ng 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 outflow s. 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 of op erations or required disclosures. Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issued an accounting standard that requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset othe r 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 materia l 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 are 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, results of op erations 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 derecognition 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 nonfinancial asset w hen 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 effective 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. Improving the P resentation 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 the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net periodic benefit costs are required to be separately presented in the income statement. The amendments also 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 benefit 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 operation s, 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 an 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 flows or require d 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 rate on the g ross 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 15 . 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 correspondi ng 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, January 1, 2019, using the additional (and optional) transition method and recognizing a cumulative-effect adjustment to the opening balance of retained earnings, at the adoption date. 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 expect 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 Ins truments - Credit Losses In June 2016, the FASB issued an accounting standard that will change how entities account for credit losses for most financial assets, trade receivables and reinsurance receivables. The standard will replace the existing incurred loss impairment model 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, re insurance receivables and certain off-balance sheet credit exposures. Additionally, 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 reductions in the amortized cost of the securities. The standard will also require additional information to be disclosed in the footnotes. The standard is effective on January 1, 20 20, 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 flo ws 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 allocation, to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value not to exceed the total amount of goodwill allocated to that reporting unit. An entity should also consider income tax effects from tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable . The standard is effective on January 1, 2020, with early adoption permitted. 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 Am ortization on Purchased Callable Debt Securities In March 2017, the FASB issued 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 cal l date. The standard does not require an accounting change for securities held 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 accountin g for both financial and commodity risks. The provisions of the amendment are 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 statement s and the footnote, and simplify the application of hedge accounting treatment. The standard is effective on January 1, 2019, with early adoption permitted. We will adopt the s tandard on its effective date. The standard’s impact is immaterial to our report ed consolidated financial condition, results of operations, cash flows and required disclosures. Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued an accounting standard update with the objective of making targeted improvements to the existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The changes to the measurement, recognition and disclosure as provided by the ne w accounting standard update are summarized below: Requires the review and if necessary update of future policy benefit assumptions at least annually for traditional and limited pay long duration contracts. Requires the discount rate assumption to be updated at the end of each reporting peri od using a upper medium grade ( low-credit risk) fixed income instrument yield that maximizes the use of observable market inputs and recognizes the impact of changes to discount rates in other comprehensive income. Simplifies the amortization of deferred acquisition costs (DAC) to a constant level basis over the expected term of the related contracts with adjustments for unexpected terminations, but no longer requires an impairment test. Requires the measurement of all market risk benefits associated with deposit (or account balance) contracts at fair value through the income statement with the exception of instrument-specific credit risk changes, which will be recognized in other comprehensive income. Increased dis closures of disaggregated roll-forwards of policy benefits, account balances, market risk benefits, separate account liabilities and information about significant inputs, judgments and methods used in measurement and changes thereto and effect of those cha nges. We plan to adopt the standard on its effective date, January 1, 2021. We are evaluating the method of adoption and impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures. T he adoption of this standard is expected to have a significant impact on our consolidated financial condition, results of operations, cash flows and required disclosures, as well as systems, processes and controls.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 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. This also i ncludes the results of Validus Reinsurance, Ltd. and Western World Insurance Group, Inc. as of the acqui sition date. International — consists of insurance businesses in Japan, the United Kingdom, Europe, Asia Pacific, Latin America, Puerto Rico, Australia, the Middle East and Africa. This also includes the results of Talbot Holdings, Ltd. as of the acquisiti on date. Results are presented before internal reinsurance transactions. North America and International operating segments consist of the following products: – Commercial Lines — consists of Liability, Financial 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, fixed index annuities, variable annuities and r etail 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 Insurance — primary products in the U.S. incl ude 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, structured settlement and pension risk transfer ann uities, 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 subsidiaries. General operating expenses not attr ibutable to specific reporting segments. Interest expense. Blackboard — a subsidiary focused on delivering commercial insurance 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 represents exited or discontinued product lines, policy forms or distribution cha nnels. Effective February 2018, our Bermuda domiciled composite reinsurer, Fortitude Reinsurance Company Ltd. (Fortitude Re), formerly known as DSA Reinsurance Company, Ltd., is included in our Legacy Portfolio. Legacy Life and Retirement Run-Off Lines - R eserves consist of certain structured settlements, pension risk transfer annuities and single premium immediate annuities written prior to April 2012. Also includes exposures to whole life, long-term care and exited accident & health product lines. Legacy General Insurance Run-Off Lines - Reserves consist of excess workers’ compensation, environmental exposures and exposures to other products within General Insurance that are no longer actively marketed. Also includes the remaining reserves in Eaglestone Reinsurance Company (Eaglestone). Legacy Investments – Includes investment classes that we have placed into run-off including holdings in direct investments as well as investments in global capital markets and global real estate. We evaluate segment perf ormance 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, respectively. For the items ex cluded 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 September 30, 2018 2017 Adjusted Adjusted Adjusted Pre-tax Adjusted Pre-tax (in millions) Revenues Income (Loss) Revenues Income (Loss) General Insurance North America $ 4,129 $ (160) $ 3,634 $ (2,193) International 3,853 (665) 3,867 (740) Total General Insurance 7,982 (825) 7,501 (2,933) Life and Retirement Individual Retirement 1,335 393 1,343 718 Group Retirement 718 242 702 249 Life Insurance 809 16 1,000 112 Institutional Markets 284 62 1,091 79 Total Life and Retirement 3,146 713 4,136 1,158 Other Operations 135 (417) 127 (366) Legacy Portfolio 814 84 1,013 286 AIG Consolidation and elimination (42) 29 (119) (1) Total AIG Consolidated adjusted revenues and adjusted pre-tax income 12,035 (416) 12,658 (1,856) Reconciling Items to revenues and pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits (5) (14) 26 26 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - 76 - 84 Other income (expense) - net (4) - (12) - Gain (Loss) on extinguishment of debt - (1) - (1) Net realized capital losses * (540) (524) (922) (922) Income (loss) from divested businesses - 2 - (13) Non-operating litigation reserves and settlements - (5) 1 - (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - (605) - 7 Net loss reserve discount benefit (charge) - 86 - (48) Pension expense related to a one-time lump sum payment to former employees - - - (49) Integration and transaction costs associated with acquired businesses - (91) - - Restructuring and other costs - (35) - (31) Revenues and Pre-tax income (loss) $ 11,486 $ (1,527) $ 11,751 $ (2,803) Nine Months Ended September 30, 2018 2017 Adjusted Adjusted Adjusted Pre-Tax Adjusted Pre-Tax (in millions) Revenues Income (Loss) Revenues Income (Loss) General Insurance North America $ 10,895 $ 567 $ 11,145 $ (644) International 11,758 (314) 11,315 (182) Total General Insurance 22,653 253 22,460 (826) Life and Retirement Individual Retirement 4,062 1,354 4,099 1,815 Group Retirement 2,209 774 2,116 758 Life Insurance 2,962 243 3,043 272 Institutional Markets 838 196 1,946 204 Total Life and Retirement 10,071 2,567 11,204 3,049 Other Operations 454 (1,133) 1,227 (1,039) Legacy Portfolio 2,431 363 3,235 1,059 AIG Consolidation and elimination (214) 28 (237) 75 Total AIG Consolidated adjusted revenues and adjusted pre-tax income 35,395 2,078 37,889 2,318 Reconciling Items to revenues and pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits (109) (127) 117 117 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - 46 - 195 Other income (expense) - net (29) - (32) - Gain (Loss) on extinguishment of debt - (10) - 4 Net realized capital losses * (430) (388) (1,106) (1,106) Income (loss) from divested businesses - 35 - (173) Non-operating litigation reserves and settlements 2 (30) 17 86 (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - (607) - (258) Net loss reserve discount benefit (charge) - 305 - (283) Pension expense related to a one-time lump sum payment to former employees - - - (50) Integration and transaction costs associated with acquired businesses - (91) - - Restructuring and other costs - (259) - (259) Revenues and Pre-tax income $ 34,829 $ 952 $ 36,885 $ 591 * 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.

BUSINESS COMBINATION

BUSINESS COMBINATION	9 Months Ended
	Sep. 30, 2018
BUSINESS COMBINATION
BUSINESS COMBINATION	4 . Business Combination On July 18 , 2018, we completed the purchase of a 100 percent voting interest in Validus, a leading provider of reinsurance, primary insurance, and asset management services, for $ 5.5 billion in cash. This transaction was made with the intent to strengthen our global General Insurance business by expanding our current product portfolio through additional distribution channels and advancing the tools available to en hance un derwriting. The impact of the acquisition on Total revenues, Net income (loss), and Net income (loss) attributable to AIG was $756 million, $(105) million, and $(105) million, respectively, for both the three- and nine-month periods ended September 30, 2018. Integration and transaction costs associated with the acquisition of Validus were $91 million for both the three- and nine-month periods ending September 30, 2018 and are included in General operating and other expenses in our Consolidated State ment of Income. As part of the purchase, we guaranteed 6,000 issued and outstanding 5.875% Non-Cumulative Preference Shares, Series A (the Series A Preference Shares) and 10,000 issued and outstanding 5.800% Non-Cumulative Preference Shares, Series B (tog ether with the S eries A Preference Shares, the Preference Shares ). On September 27, 2018, we provided notice to the preference shareholders that on October 30, 2018 (the Redemption Date ), we will redeem all of the Preference Shares at a redemption price o f $26,000 per Preference Share, plus all declared and unpaid dividends, if any, up to, but excluding, the Redemption Date. Accordingly, as of September 30, 2018, the Preference S h ares are included within Other l iabilities on our Condensed Consolidated Bal ance Sheet. The purchase was accounted for under the acquisition method. Accordingly, the total purchase price was allocated to the estimated fair values of assets acquired and liabilities assumed. This allocation resulted in the purchase price exceeding the fair value of net assets acquired, which results in a difference recorded as goodwill. Goodwill generated from the acquisition is attributable to expected synergies from future growth and potential future monetization opportunities. Goodwill related t o the purchase of Validus assigned to our General Insurance operating segments was $1.8 billion for North America and $157 million for International. In addition, Validus participates in the market for insurance-linked securities (ILS) primarily through Al phaCat Managers, Ltd (AlphaCat Manager). AlphaCat Manager is an asset manager primarily for third party investors and in connection with the issuance of ILS invests in AlphaCat funds which are considered variable interest entities (VIEs). ILS are financial instruments for which the values are determined based on insurance losses caused primarily by natural catastrophes such as major earthquakes and hurricanes. We report the investment in AlphaCa t funds, which approximated $128 million at September 30, 2018, in Other Invested Assets in the Condensed Consolidated Balance Sheet. The following table summarizes the estimated provisional fair values of major classes of identifiable assets acquired a nd liabilities assumed as of July 18 , 2018: (in millions) July 18, 2018 Identifiable net assets: Investments $ 6,613 Cash 330 Premiums and other receivables 2,130 Reinsurance assets 1,692 Value of business acquired* 298 Deferred income taxes 63 Other assets, including restricted cash of $93 1,008 Liability for unpaid claims and claims adjustment expense (4,138) Unearned premiums (2,083) Long-term debt (1,106) Other liabilities (913) Preference shares (416) Total identifiable net assets acquired 3,478 Cash consideration paid 5,475 Goodwill recognized from acquisition $ 1,997 * Reported in Deferred policy acquisition costs in the Condensed Consolidated Balance Sheet. The following unaudited summarized pro forma consolidated income statement information assumes that the acquisitio n of Validus occurred as of January 1, 2017 . The pro forma amounts are for comparative purposes only and may not necessarily reflect the results of operations that would have resulted had the acquisition been completed at the beginning of the a pplicable period and may not be indicative of the results that will be attained in the future . Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017* 2018* 2017* Total revenues $ 11,486 $ 12,418 $ 36,028 $ 38,752 Net income (loss) (1,259) (1,958) 576 571 Net income (loss) attributable to AIG (1,259) (1,984) 571 531 Income (loss) per common share attributable to AIG: Basic: Net income (loss) attributable to AIG (1.41) (2.18) 0.63 0.57 Diluted: Net income (loss) attributable to AIG (1.41) (2.18) 0.62 0.55 * Pro forma adjustments were made to Validus external reporting results prior to the acquisition date for the deconsolidation of certain asset management entities consistent with AIG’s post acquisition accounting, which had no impact on Net income attributable to Validus. The following table presents details of the identified intangible assets acquired: Estimated Weighted (in millions, except years) Fair Value Average Useful Life Definite lived intangibles Value of distribution network acquired (a)(b) $ 444 15 years Value of business acquired (c) 298 2 years Indefinite lived intangibles (a) Syndicate capacity 193 Other 75 Total $ 1,010 (a) Reported in Other assets in the Condensed Consolidated Balance Sheet. (b) Amortization is reported in General operating and other expenses in the Condensed Consolidated Statement of Income (Loss) . (c) Reported in Deferred policy acquisition costs in the Condensed Consolidated Balance Sheet and Amortization of deferred policy acquisition costs in the Condensed Consolidated Statement of Income (Loss) .

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2018
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	5 . Fair Value Measurements Fair Value Measurements on a Recurring Basis Assets and liabilities recorded at fair value in the Condensed Consolidated Balance Sheet s are measured and classified in accordance with a fair value hierarchy consisting of three “levels” based on the observability of valuation inputs: Level 1: Fair value measurements based on quoted prices (unadjusted) in active markets that we have the ability to access for identical assets or liabilities. Market price data generally is obtained from exchange or dealer markets. We do not adjust the quoted price for such instruments. Level 2: Fair value measurements based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Le vel 3: Fair value measurements based on valuation techniques that use significant inputs that are unobservable. Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3. The circumstances for using these measurements include those in which there is little, if any, market activity for the asset or liability. Therefore, we must make certain assumptions about the inputs a hypothetical market participant would use to value that asset or liability. 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: September 30, 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 $ 9 $ 3,084 $ - $ - $ - $ 3,093 Obligations of states, municipalities and political subdivisions - 14,516 1,996 - - 16,512 Non-U.S. governments 19 15,196 4 - - 15,219 Corporate debt - 130,942 942 - - 131,884 RMBS - 20,365 14,861 - - 35,226 CMBS - 11,990 701 - - 12,691 CDO/ABS - 9,263 8,832 - - 18,095 Total bonds available for sale 28 205,356 27,336 - - 232,720 Other bond securities: U.S. government and government sponsored entities 96 2,538 - - - 2,634 Non-U.S. governments - 49 - - - 49 Corporate debt - 1,707 - - - 1,707 RMBS - 311 1,349 - - 1,660 CMBS - 328 73 - - 401 CDO/ABS - 511 4,458 - - 4,969 Total other bond securities 96 5,444 5,880 - - 11,420 Other equity securities (b) 1,400 18 25 - - 1,443 Mortgage and other loans receivable - - - - - - Other invested assets (c) - 603 398 - - 1,001 Derivative assets: Interest rate contracts - 2,505 - - - 2,505 Foreign exchange contracts - 927 - - - 927 Equity contracts 16 220 104 - - 340 Credit contracts - - 1 - - 1 Other contracts - - 15 - - 15 Counterparty netting and cash collateral - - - (1,874) (964) (2,838) Total derivative assets 16 3,652 120 (1,874) (964) 950 Short-term investments 2,513 1,120 - - - 3,633 Separate account assets 88,092 4,953 - - - 93,045 Total $ 92,145 $ 221,146 $ 33,759 $ (1,874) $ (964) $ 344,212 Liabilities: Policyholder contract deposits $ - $ - $ 3,376 $ - $ - $ 3,376 Derivative liabilities: Interest rate contracts 1 2,106 12 - - 2,119 Foreign exchange contracts - 1,082 5 - - 1,087 Equity contracts 2 2 1 - - 5 Credit contracts - 15 237 - - 252 Other contracts - - 3 - - 3 Counterparty netting and cash collateral - - - (1,874) (290) (2,164) Total derivative liabilities 3 3,205 258 (1,874) (290) 1,302 Long-term debt - 2,311 - - - 2,311 Other liabilities 165 24 - - - 189 Total $ 168 $ 5,540 $ 3,634 $ (1,874) $ (290) $ 7,178 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 (Financial Instruments Recognition and Measurement Standard), equity securities are no longer classified and accounted for as available for sale securities. (c) Excludes investments that are measured at fair value using the net asset value (NAV) per share (or its equ ivalent), which totaled $ 5.1 billion and $ 6.0 billion as of September 30, 2018 and December 31, 2017 , respectively. Transfers of Level 1 and Level 2 Assets and Liabilities Our policy is to record t ransfers 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 transacte d with sufficient frequency and volume in an active market. Conversely, assets are transferred from Level 2 to Level 1 when transaction volume and frequency are indicative of an active market. There were no tra nsfers of securities issued by n on-U.S. gover nment entities from Level 1 to Level 2 in the three - month period ended September 30, 2018 . During the nine -month period ended September 30, 2018 , we transferred $ 16 million of securiti es issued by non-U.S. government entities from Level 1 to Level 2, because they are no longer considered actively traded. For similar reasons, during the three - and nine -month periods ended September 30, 2018 , we transf erred $ 52 million and $ 733 million, respectively, of securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2. We had no material transfers from Level 2 to Level 1 during the three - and nine -month periods ended September 30, 2018 . There were no tra nsfers of preferred stock or securities issued by the U.S. government and government sponsored ent ities from Level 1 to Level 2 during the three - month period ended September 30, 2017 . During the three - and nine -m onth period s ended September 30, 2017 , we transferred $ 300 m illion and $ 352 m illion, respective ly, of securities issued by n on-U.S. government enti ties from Level 1 to Level 2, because they are no longer considered actively traded. For similar reasons, during the nine - month period ended September 30, 2017 , we transferred $ 113 million of securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2. Additionally, we transferred $ 126 million of preferred stock from Level 1 to Level 2 during the nine - mo nth period ended September 30, 2017 . We had no material transfers from Level 2 to Level 1 during the three - and nine -month periods ended September 30, 2017 . Changes in Level 3 Recurring Fair Value Measureme nts The following tables present changes during the three - and nine -month periods ended September 30, 2018 and 2017 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realiz ed and unrealized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at September 30, 2018 and 2017 : Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Three Months Ended September 30, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,056 $ - $ (37) $ (46) $ 54 $ (31) $ - $ 1,996 $ - Non-U.S. governments - - (1) 1 4 - - 4 - Corporate debt 884 7 (10) (28) 133 (44) - 942 - RMBS 15,377 213 5 (725) - (16) 7 14,861 - CMBS 605 14 (14) 31 64 - 1 701 - CDO/ABS 6,856 15 (31) 320 1,508 - 164 8,832 - Total bonds available for sale 25,778 249 (88) (447) 1,763 (91) 172 27,336 - Other bond securities: Corporate debt 18 - - (18) - - - - (2) RMBS 1,338 18 - (57) 50 - - 1,349 (29) CMBS 71 (2) - - 4 - - 73 (2) CDO/ABS 4,641 76 - (267) - - 8 4,458 (6) Total other bond securities 6,068 92 - (342) 54 - 8 5,880 (39) Other equity securities (a) - 1 - 24 - - - 25 - Mortgage and other loans receivable - - - - - - - - - Other invested assets 399 - - (1) - - - 398 - Total $ 32,245 $ 342 $ (88) $ (766) $ 1,817 $ (91) $ 180 $ 33,639 $ (39) Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Liabilities: Policyholder contract deposits $ 3,534 $ (242) $ - $ 84 $ - $ - $ - $ 3,376 $ 179 Derivative liabilities, net: Interest rate contracts 14 (1) - (1) - - - 12 1 Foreign exchange contracts 5 2 - (2) - - - 5 (5) Equity contracts (79) (12) - (12) - - - (103) 10 Credit contracts 246 (9) - (1) - - - 236 10 Other contracts (10) (19) - 17 - - - (12) 14 Total derivative liabilities, net (b) 176 (39) - 1 - - - 138 30 Long-term debt (c) - - - - - - - - - Total $ 3,710 $ (281) $ - $ 85 $ - $ - $ - $ 3,514 $ 209 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Nine Months Ended September 30, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,404 $ 1 $ (152) $ (144) $ 54 $ (167) $ - $ 1,996 $ - Non-U.S. governments 8 (5) 5 (3) 4 (5) - 4 - Corporate debt 1,173 (58) (7) (174) 701 (693) - 942 - RMBS 16,136 632 5 (1,877) 8 (50) 7 14,861 - CMBS 624 18 (35) 1 111 (19) 1 701 - CDO/ABS 8,651 31 (116) (334) 1,508 (1,072) 164 8,832 - Total bonds available for sale 28,996 619 (300) (2,531) 2,386 (2,006) 172 27,336 - Other bond securities: Corporate debt 18 - - (18) - - - - (1) RMBS 1,464 73 - (238) 50 - - 1,349 124 CMBS 74 (5) - (1) 5 - - 73 2 CDO/ABS 4,956 283 - (780) - (9) 8 4,458 201 Total other bond securities 6,512 351 - (1,037) 55 (9) 8 5,880 326 Other equity securities (a) - (2) - 27 - - - 25 - Mortgage and other loans receivable 5 - - (5) - - - - - Other invested assets 250 52 1 95 - - - 398 56 Total $ 35,763 $ 1,020 $ (299) $ (3,451) $ 2,441 $ (2,015) $ 180 $ 33,639 $ 382 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Liabilities: Policyholder contract deposits $ 4,136 $ (986) $ - $ 226 $ - $ - $ - $ 3,376 $ 1,081 Derivative liabilities, net: Interest rate contracts 22 (5) - (5) - - - 12 5 Foreign exchange contracts - (2) - 7 - - - 5 (5) Equity contracts (82) (3) - (20) - 2 - (103) 2 Credit contracts 262 (23) - (3) - - - 236 23 Other contracts (15) (51) - 54 - - - (12) 42 Total derivative liabilities, net (b) 187 (84) - 33 - 2 - 138 67 Long-term debt (c) - - - - - - - - - Total $ 4,323 $ (1,070) $ - $ 259 $ - $ 2 $ - $ 3,514 $ 1,148 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Three Months Ended September 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,285 $ 2 $ 38 $ 52 $ - $ (6) $ 2,371 $ - Non-U.S. governments 12 (5) 4 - - - 11 - Corporate debt 932 5 (2) (53) 449 (121) 1,210 - RMBS 16,393 253 495 (731) 11 (7) 16,414 - CMBS 735 2 5 (77) - - 665 - CDO/ABS 8,605 8 (12) (166) - (21) 8,414 - Total bonds available for sale 28,962 265 528 (975) 460 (155) 29,085 - Other bond securities: Corporate debt 28 1 - - - (11) 18 - RMBS 1,510 63 - (130) - - 1,443 49 CMBS 66 2 - 42 - (45) 65 3 CDO/ABS 5,234 111 - (505) - (6) 4,834 (34) Total other bond securities 6,838 177 - (593) - (62) 6,360 18 Equity securities available for sale: Common stock 7 - - (2) - - 5 - Total equity securities available for sale 7 - - (2) - - 5 - Mortgage and other loans receivable 5 - - - - - 5 - Other invested assets 225 - (2) 36 - - 259 (3) Total $ 36,037 $ 442 $ 526 $ (1,534) $ 460 $ (217) $ 35,714 $ 15 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Liabilities: Policyholder contract deposits $ 3,518 $ 299 $ - $ 157 $ - $ - $ 3,974 $ (220) Derivative liabilities, net: Interest rate contracts 30 (2) - (2) - - 26 1 Foreign exchange contracts 7 - - (4) - - 3 - Equity contracts (63) (11) - 5 - - (69) 8 Credit contracts 293 (19) - (1) - - 273 19 Other contracts (16) (19) - 19 - - (16) 12 Total derivative liabilities, net (b) 251 (51) - 17 - - 217 40 Long-term debt (c) 61 2 - (60) - - 3 4 Total $ 3,830 $ 250 $ - $ 114 $ - $ - $ 4,194 $ (176) Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Nine Months Ended September 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,040 $ 3 $ 123 $ 221 $ 8 $ (24) $ 2,371 $ - Non-U.S. governments 17 (5) 5 (6) - - 11 - Corporate debt 1,133 6 (2) (219) 655 (363) 1,210 - RMBS 16,906 806 992 (2,270) 19 (39) 16,414 - CMBS 2,040 25 12 (699) - (713) 665 - CDO/ABS 7,835 (14) 168 478 - (53) 8,414 - Total bonds available for sale 29,971 821 1,298 (2,495) 682 (1,192) 29,085 - Other bond securities: Corporate debt 17 2 - 10 - (11) 18 1 RMBS 1,605 184 - (313) - (33) 1,443 116 CMBS 155 4 - 24 - (118) 65 6 CDO/ABS 5,703 459 - (1,322) - (6) 4,834 91 Total other bond securities 7,480 649 - (1,601) - (168) 6,360 214 Equity securities available for sale: Common stock - - - 6 - (1) 5 - Total equity securities available for sale - - - 6 - (1) 5 - Mortgage and other loans receivable 11 - - (6) - - 5 - Other invested assets 204 3 (5) 58 - (1) 259 1 Total $ 37,666 $ 1,473 $ 1,293 $ (4,038) $ 682 $ (1,362) $ 35,714 $ 215 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Liabilities: Policyholder contract deposits $ 3,033 $ 594 $ - $ 347 $ - $ - $ 3,974 $ (405) Derivative liabilities, net: Interest rate contracts 38 (3) - (9) - - 26 3 Foreign exchange contracts 11 1 - (9) - - 3 (1) Equity contracts (58) (26) - 15 - - (69) 22 Credit contracts 329 (55) - (1) - - 273 53 Other contracts (11) (58) - 56 (3) - (16) 57 Total derivative liabilities, net (b) 309 (141) - 52 (3) - 217 134 Long-term debt (c) 71 16 - (84) - - 3 - Total $ 3,413 $ 469 $ - $ 315 $ (3) $ - $ 4,194 $ (271) (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 September 30, 2018 Bonds available for sale $ 249 $ - $ - $ 249 Other bond securities 35 1 56 92 Other equity securities 1 - - 1 Other invested assets - - - - Nine Months Ended September 30, 2018 Bonds available for sale $ 731 $ (112) $ - $ 619 Other bond securities 92 (3) 262 351 Other equity securities (2) - - (2) Other invested assets 57 - (5) 52 Three Months Ended September 30, 2017 Bonds available for sale $ 257 $ 8 $ - $ 265 Other bond securities 87 (2) 92 177 Other invested assets 2 1 (3) - Nine Months Ended September 30, 2017 Bonds available for sale $ 849 $ (28) $ - $ 821 Other bond securities 259 - 390 649 Other invested assets 5 (1) (1) 3 Net Net Realized Investment Capital Other (in millions) Income (Gains) Losses Income Total Three Months Ended September 30, 2018 Policyholder contract deposits $ - $ (242) $ - $ (242) Derivative liabilities, net - (1) (38) (39) Long-term debt - - - - Nine Months Ended September 30, 2018 Policyholder contract deposits $ - $ (986) $ - $ (986) Derivative liabilities, net - (3) (81) (84) Long-term debt - - - - Three Months Ended September 30, 2017 Policyholder contract deposits $ - $ 299 $ - $ 299 Derivative liabilities, net - (5) (46) (51) Long-term debt - - 2 2 Nine Months Ended September 30, 2017 Policyholder contract deposits $ - $ 594 $ - $ 594 Derivative liabilities, net - (13) (128) (141) Long-term debt - - 16 16 The following table presents the gross compo nents of purchases, sales, issuance s and settlements, net, shown a bove, for the three - and nine - month periods ended September 30, 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 (a) Settlements, Net (a) Three Months Ended September 30, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ - $ (8) $ (38) $ (46) Non-U.S. governments - - 1 1 Corporate debt 25 - (53) (28) RMBS 123 (2) (846) (725) CMBS 58 (2) (25) 31 CDO/ABS 394 (49) (25) 320 Total bonds available for sale 600 (61) (986) (447) Other bond securities: Corporate debt - - (18) (18) RMBS - - (57) (57) CMBS - - - - CDO/ABS - - (267) (267) Total other bond securities - - (342) (342) Other equity securities 24 - - 24 Other invested assets - - (1) (1) Total assets $ 624 $ (61) $ (1,329) $ (766) Liabilities: Policyholder contract deposits $ - $ 148 $ (64) $ 84 Derivative liabilities, net (18) - 19 1 Long-term debt (b) - - - - Total liabilities $ (18) $ 148 $ (45) $ 85 Three Months Ended September 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 56 $ - $ (4) $ 52 Non-U.S. governments 7 - (7) - Corporate debt 6 (5) (54) (53) RMBS 194 (16) (909) (731) CMBS - (17) (60) (77) CDO/ABS 402 (136) (432) (166) Total bonds available for sale 665 (174) (1,466) (975) Other bond securities: Corporate debt - - - - RMBS - (51) (79) (130) CMBS 42 - - 42 CDO/ABS - (57) (448) (505) Total other bond securities 42 (108) (527) (593) Equity securities available for sale 4 - (6) (2) Other equity securities - - - - Mortgage and other loans receivable - - - - Other invested assets 46 (9) (1) 36 Total assets $ 757 $ (291) $ (2,000) $ (1,534) Liabilities: Policyholder contract deposits $ - $ 79 $ 78 $ 157 Derivative liabilities, net - - 17 17 Long-term debt (b) - - (60) (60) Total liabilities $ - $ 79 $ 35 $ 114 Issuances Purchases, Sales, and Issuances and (in millions) Purchases Sales Settlements (a) Settlements, Net (a) Nine Months Ended September 30, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 24 $ (8) $ (160) $ (144) Non-U.S. governments 2 - (5) (3) Corporate debt 280 (216) (238) (174) RMBS 630 (12) (2,495) (1,877) CMBS 70 (2) (67) 1 CDO/ABS 1,364 (962) (736) (334) Total bonds available for sale 2,370 (1,200) (3,701) (2,531) Other bond securities: Corporate debt - - (18) (18) RMBS 1 (34) (205) (238) CMBS - - (1) (1) CDO/ABS - (4) (776) (780) Total other bond securities 1 (38) (1,000) (1,037) Other equity securities 27 - - 27 Mortgage and other loans receivable - (5) - (5) Other invested assets 153 (29) (29) 95 Total assets $ 2,551 $ (1,272) $ (4,730) $ (3,451) Liabilities: Policyholder contract deposits $ - $ 391 $ (165) $ 226 Derivative liabilities, net (37) - 70 33 Long-term debt (b) - - - - Total liabilities $ (37) $ 391 $ (95) $ 259 Nine Months Ended September 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 279 $ (16) $ (42) $ 221 Non-U.S. governments 7 (1) (12) (6) Corporate debt 36 (59) (196) (219) RMBS 834 (260) (2,844) (2,270) CMBS 39 (128) (610) (699) CDO/ABS 1,609 (136) (995) 478 Total bonds available for sale 2,804 (600) (4,699) (2,495) Other bond securities: Corporate debt 11 - (1) 10 RMBS 112 (218) (207) (313) CMBS 42 (11) (7) 24 CDO/ABS - (65) (1,257) (1,322) Total other bond securities 165 (294) (1,472) (1,601) Equity securities available for sale 12 - (6) 6 Other equity securities - - - - Mortgage and other loans receivable - (6) - (6) Other invested assets 89 (11) (20) 58 Total assets $ 3,070 $ (911) $ (6,197) $ (4,038) Liabilities: Policyholder contract deposits $ - $ 231 $ 116 $ 347 Derivative liabilities, net - - 52 52 Long-term debt (b) - - (84) (84) Total liabilities $ - $ 231 $ 84 $ 315 (a) There were no issuances during the three - and nine -month period s ended September 30, 2018 and 2017 , respectively . (b) Includes GIAs, notes, bonds, loans and mortgages payable . Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3 in the tables above. As a result, the unrealized gains (losses) on instruments held at September 30, 2018 and 2017 may include changes i n fair value that were attributable 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 l iabilities into or out of Level 3 classification at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. The Net realized and unrealized gains (losses) included in i ncome or Other comprehens ive income (loss) as shown in the table above exclud es $ 17 million and $ 41 million of net gains related to assets and liabilities transferred into Level 3 during the three- and nine - month period s ended September 30, 2018 , respectively, and include s $ 2 million and $ (20) million of net gains ( losses ) related to assets and liabilities transferred out of Level 3 in the three - and nine -month period s ended September 30, 2018 , respectively . The Net realized and unreali zed gains (losses) incl uded in i ncome or Other comprehensive income (loss) as shown in the table above exclud es $ 49 million and $ 57 million of net losses related to assets and liabilities transferred into Level 3 during the three - and nine - month periods end ed September 30, 2017 , respectively, and include s $ 32 million and $ 38 million of net losses related to assets and liabilities transferred out of Level 3 during the three - and nine -month period s ended September 30, 2017 , respectively. Transfers of Level 3 Assets During the three - and nine -month periods ended September 30, 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 corporate 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. During the three - and nine -month periods ended September 30, 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, corpora te debt, RMBS, CMBS and CDO/ABS out of Level 3 assets were based on consideration of market liquidity as well as related transparency of pricing and associated observable inputs for these investments. Transfers of certain investments in private placement c orporate 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 characteristic s of a specific security or the current liquidity in the market. Transfers of Level 3 Liabilities There were no significant transfers of derivative or other liabilities into or out of Level 3 for the three - and nine -month periods end ed September 30, 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 September 30, Valuation Range (in millions) 2018 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,439 Discounted cash flow Yield 4.04% - 4.81% (4.42%) Corporate debt 727 Discounted cash flow Yield 3.55% - 15.26% (9.40%) RMBS (a) 14,257 Discounted cash flow Constant prepayment rate 4.51% - 13.02% (8.76%) Loss severity 39.83% - 73.69% (56.76%) Constant default rate 2.69% - 7.58% (5.14%) Yield 3.17% - 5.38% (4.28%) CDO/ABS (a) 4,792 Discounted cash flow Yield 4.09% - 5.38% (4.74%) CMBS 461 Discounted cash flow Yield 3.09% - 7.20% (5.15%) Liabilities: Embedded derivatives within Policyholder contract deposits: Guaranteed minimum withdrawal benefits (GMWB) 1,046 Discounted cash flow Equity volatility 6.15% - 48.35% Base lapse rate 0.16% - 12.60% Dynamic lapse multiplier 20.00% - 180.00% Mortality multiplier (c) 40.00% - 153.00% Utilization 90.00% - 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 1,890 Discounted cash flow Lapse rate 0.50% - 40.00% Mortality multiplier (c) 42.00% - 162.00% Option Budget 1.00% - 3.00% Indexed Life 414 Discounted cash flow Base lapse rate 0.00% - 13.00% Mortality rate 0.00% - 100.00% 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 politic

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2018
INVESTMENTS
INVESTMENTS	6 . Investments Securities Available for Sale The following table presents the amortized cost or cost and fair value of our available for sale securities ( a ) : Other-Than- Amortized Gross Gross Temporary Cost or Unrealized Unrealized Fair Impairments (in millions) Cost Gains Losses Value in AOCI (b) September 30, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 3,069 $ 101 $ (77) $ 3,093 $ - Obligations of states, municipalities and political subdivisions 16,030 632 (150) 16,512 4 Non-U.S. governments 15,021 478 (280) 15,219 - Corporate debt 130,263 4,302 (2,681) 131,884 (11) Mortgage-backed, asset-backed and collateralized: RMBS 32,825 2,961 (560) 35,226 1,330 CMBS 12,821 182 (312) 12,691 28 CDO/ABS 18,018 189 (112) 18,095 17 Total mortgage-backed, asset-backed and collateralized 63,664 3,332 (984) 66,012 1,375 Total bonds available for sale (c) 228,047 8,845 (4,172) 232,720 1,368 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 (loss) . 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 September 30, 2018 and December 31, 2017 , bonds available for sale held by us that were below investment grade or not rated totaled $ 30.6 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 September 30, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 1,406 $ 61 $ 364 $ 16 $ 1,770 $ 77 Obligations of states, municipalities and political subdivisions 3,475 98 743 52 4,218 150 Non-U.S. governments 5,079 172 1,821 108 6,900 280 Corporate debt 52,590 1,947 9,929 734 62,519 2,681 RMBS 7,930 245 4,706 315 12,636 560 CMBS 5,062 146 2,626 166 7,688 312 CDO/ABS 7,483 79 1,061 33 8,544 112 Total bonds available for sale $ 83,025 $ 2,748 $ 21,250 $ 1,424 $ 104,275 $ 4,172 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 September 30, 2018 , we held 16,950 individual fixed maturity securities that were in an unrealized loss position, of which 3,008 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 September 30, 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 September 30, 2018 Due in one year or less $ 8,421 $ 8,559 $ 2,043 $ 2,032 Due after one year through five years 48,626 49,416 16,406 16,042 Due after five years through ten years 42,674 42,475 26,927 25,844 Due after ten years 64,662 66,258 33,219 31,489 Mortgage-backed, asset-backed and collateralized 63,664 66,012 29,852 28,868 Total $ 228,047 $ 232,720 $ 108,447 $ 104,275 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: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Gross Gross Gross Gross Gross Gross Gross Gross Realized Realized Realized Realized Realized Realized Realized Realized (in millions) Gains Losses Gains Losses Gains Losses Gains Losses Fixed maturity securities $ 82 $ 71 $ 93 $ 39 $ 252 $ 244 $ 637 $ 263 Equity securities - - 6 2 16 - 106 20 Total $ 82 $ 71 $ 99 $ 41 $ 268 $ 244 $ 743 $ 283 For the three - and nine -month periods ended September 30, 2018 , the aggregate fair value of available for sale securities sold was $ 6.0 billion and $ 18.1 billion, respectively, which resulted in net realized capital gains of $ 11 million and $ 24 million, respectively. For the three - and nine -month periods ended September 30, 2017 , the a ggregate fair value of available for sale securities sold was $ 4.4 billion and $ 27.8 billion, respectively, which resulted in net realized capital gains of $ 58 m illion and $ 460 million, respectively. Other Securities Measured at Fair Value The following table presents the fair value of other securities measured at fair value based on our election of the fair value option: September 30, 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 $ 2,634 21 % $ 2,802 21 % Non-U.S. governments 49 - 57 1 Corporate debt 1,707 13 1,909 14 Mortgage-backed, asset-backed and collateralized : RMBS 1,660 13 1,885 14 CMBS 401 3 559 4 CDO/ABS and other collateralized * 4,969 39 5,560 42 Total mortgage-backed, asset-backed and collateralized 7,030 55 8,004 60 Total fixed maturity securities 11,420 89 12,772 96 Equity securities 1,443 11 589 4 Total $ 12,863 100 % $ 13,361 100 % * Includes $ 186 million and $ 251 million of U.S. g overnment agency-backed ABS at September 30, 2018 and December 31, 2017 , respectively. Other Invested Assets The following table summarizes the carrying amoun ts of other invested assets : September 30, December 31, (in millions) 2018 2017 Alternative investments (a) (b) $ 9,655 $ 11,308 Investment real estate (c) 8,819 8,258 All other investments 1,265 1,256 Total $ 19,739 $ 20,822 (a) At September 30, 2018 , include d hedge funds of $ 4.6 billion, private equity funds of $ 4.6 billion, and affordable housing partnerships of $ 434 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) At September 30, 2018 , approximat ely 52 percent and 21 percent of our hedge fund portfolio is available for redemption in 2018 and 2019, respectively, the remaining 27 percent will be available for redemption be tween 2020 and 2027 . (c) Net of accumulated depreciation of $ 553 million and $ 515 million at September 30, 2018 and December 31, 2017 , respectively. Net Investment Income The following t able presents the components of Net i nvestment i ncome: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Available for sale fixed maturity securities, including short-term investments $ 2,629 $ 2,552 $ 7,775 $ 7,826 Other fixed maturity securities 60 145 29 500 Equity securities (a) (21) 5 (50) 22 Interest on mortgage and other loans 455 414 1,352 1,206 Alternative investments (b) 329 355 837 1,174 Real estate 72 51 133 131 Other investments (13) 30 11 246 Total investment income 3,511 3,552 10,087 11,105 Investment expenses 115 136 365 390 Net investment income $ 3,396 $ 3,416 $ 9,722 $ 10,715 (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 generally reported on a one- quarter lag. Net Realized Capital Gains and Losses The following table presents the components of Net realized capital gains (losses) : Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Sales of fixed maturity securities $ 11 $ 54 $ 8 $ 374 Sales of equity securities - 4 16 86 Other-than-temporary impairments: Severity - - - (2) Change in intent (3) (1) (52) (9) Foreign currency declines (1) (1) (13) (11) Issuer-specific credit events (30) (85) (92) (197) Adverse projected cash flows (1) (1) (1) (4) Provision for loan losses (23) (38) (73) (56) Foreign exchange transactions (21) 66 (155) 299 Variable annuity embedded derivatives, net of related hedges (185) (430) (2) (1,023) All other derivatives and hedge accounting (1) (136) 149 (217) Impairments on investments in life settlements - (273) - (360) Loss on sale of private equity funds (311) - (311) - Other 54 (81) 161 14 Net realized capital losses $ (511) $ (922) $ (365) $ (1,106) Change in Unrealized Appreciation (Depreciation) of Investments The following table presents the increase (decrease) in unrealized appreciation (depreciation) of our available for sale securities and other investments: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ (920) $ 1,059 $ (8,858) $ 4,332 Equity securities (a) - 9 - 52 Other investments (31) 10 (59) (127) Total increase (decrease) in unrealized appreciation (depreciation) of investments (b) $ (951) $ 1,078 $ (8,917) $ 4,257 (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 Nine Months Ended September 30, 2018 September 30, 2018 Other Other Invested Invested (in millions) Equities Assets Total Equities Assets Total Net gains and losses recognized during the period on equity securities $ (13) $ 183 $ 170 $ (41) $ 497 $ 456 Less: Net gains and losses recognized during the period on equity securities sold during the period 28 18 46 34 45 79 Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ (41) $ 165 $ 124 $ (75) $ 452 $ 377 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 The following table presents a rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings for available for sale fixed maturity securities: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Balance, beginning of period $ 188 $ 762 $ 526 $ 1,098 Increases due to: Credit impairments on new securities subject to impairment losses 15 58 32 116 Additional credit impairments on previously impaired securities 16 12 61 49 Reductions due to: Credit impaired securities fully disposed for which there was no prior intent or requirement to sell (12) (44) (143) (99) Accretion on securities previously impaired due to credit * (164) (147) (433) (523) Balance, end of period $ 43 $ 641 $ 43 $ 641 * 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) $ 36,640 Cash flows expected to be collected * 30,077 Recorded investment in acquired securities 20,294 * Represents undiscounted expected cash flows, including both principal and interes t . (in millions) September 30, 2018 December 31, 2017 Outstanding principal balance $ 13,060 $ 14,718 Amortized cost 9,087 10,492 Fair value 10,941 12,293 The following table presents activity for the accretable yield on PCI securities: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Balance, beginning of period $ 7,461 $ 7,465 $ 7,501 $ 7,498 Newly purchased PCI securities 5 16 32 117 Disposals - - - (18) Accretion (176) (193) (553) (609) Effect of changes in interest rate indices 15 (74) 189 (188) Net reclassification from (to) non-accretable difference, including effects of prepayments 93 172 229 586 Balance, end of period $ 7,398 $ 7,386 $ 7,398 $ 7,386 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) September 30, 2018 December 31, 2017 Fixed maturity securities available for sale $ 1,247 $ 2,911 Other bond securities, at fair value $ 136 $ 1,585 At September 30, 2018 and December 31, 2017 , amounts borrowed under repurchase and securities lending agreements totaled $ 1.5 billion and $ 4.5 billion, respectively. The following table presents the fair value of securities pledged under our repurchase agreements by collateral type and by remaining contractual maturity: Remaining Contractual Maturity of the Agreements (in millions) Overnight and Continuous up to 30 days 31 - 90 days 91 - 364 days 365 days or greater Total September 30, 2018 Bonds available for sale: Non-U.S. governments $ - $ 79 $ - $ - $ - $ 79 Corporate debt - 110 1 - - 111 Other bond securities: U.S. government and government sponsored entities 24 - - - - 24 Non-U.S. governments - 3 - - - 3 Corporate debt - 55 54 - - 109 Total $ 24 $ 247 $ 55 $ - $ - $ 326 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 September 30, 2018 Bonds available for sale: Non-U.S. governments $ - $ - $ 82 $ 22 $ - $ 104 Corporate debt - 378 467 108 - 953 Other bond securities: Non-U.S. governments - - - - - - Corporate debt - - - - - - Total $ - $ 378 $ 549 $ 130 $ - $ 1,057 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 enter into agreemen ts 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) September 30, 2018 December 31, 2017 Securities collateral pledged to us $ 1,324 $ 2,227 Amount sold or repledged by us $ 164 $ 46 At September 30, 2018 and December 31, 2017 , amounts loaned under reverse repurchase agreements totaled $ 1.3 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 $ 7.9 billion and $ 4.9 billion at September 30, 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 $ 205 million and $ 93 million of stock in FHLBs at September 30, 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 $ 4.2 billion and $ 2.0 billion, respectively, at September 30, 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 of such downgrade s, 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 pl edged as collateral with respect to these obligations was approximately $ 1.7 billion and $ 2.0 billion at September 30, 2018 and December 31, 2017 , respectively. This colla teral 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 $ 155 million and $ 255 million, comprised of bonds available for sale and short term investments at September 30, 2018 and December 31, 2017 , respectively.

LENDING ACTIVITIES

LENDING ACTIVITIES	9 Months Ended
	Sep. 30, 2018
LENDING ACTIVITIES
LENDING ACTIVITIES	7 . Lending Activities The following table presents the composition of Mortgage and other loans receivable, net: September 30, December 31, (in millions) 2018 2017 Commercial mortgages * $ 32,082 $ 28,596 Residential mortgages 6,530 5,398 Life insurance policy loans 2,178 2,295 Commercial loans, other loans and notes receivable 1,467 1,056 Total mortgage and other loans receivable 42,257 37,345 Allowance for credit losses (379) (322) Mortgage and other loans receivable, net $ 41,878 $ 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 September 30, 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 September 30, 2018 Loan-to-Value Ratios (b) Less than 65% $ 17,986 $ 2,508 $ 239 $ 20,733 65% to 75% 9,115 302 258 9,675 76% to 80% 831 8 15 854 Greater than 80% 572 106 142 820 Total commercial mortgages $ 28,504 $ 2,924 $ 654 $ 32,082 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 1.9 X and 2.1 X at September 30, 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 58 percent and 57 percent at September 30, 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 $ September 30, 2018 Credit Quality Performance Indicator: In good standing 763 $ 10,393 $ 9,257 $ 5,333 $ 3,002 $ 2,531 $ 1,422 $ 31,938 100 % Restructured (a) 4 - 113 - 15 16 - 144 - 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 767 $ 10,393 $ 9,370 $ 5,333 $ 3,017 $ 2,547 $ 1,422 $ 32,082 100 % Allowance for credit losses: Specific $ - $ 2 $ - $ - $ 1 $ - $ 3 - % General 106 96 46 12 19 14 293 1 Total allowance for credit losses $ 106 $ 98 $ 46 $ 12 $ 20 $ 14 $ 296 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 Nine Months Ended September 30, 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 (17) - (17) (5) (2) (7) Recoveries of loans previously charged off - - - - - - Net charge-offs (17) - (17) (5) (2) (7) Provision for loan losses 66 8 74 75 (20) 55 Other - - - - - - Allowance, end of period $ 296 * $ 83 $ 379 $ 264 * $ 81 $ 345 * Of the total allowance , $ 3 million and $ 35 million relate to individually assessed credit losses on $ 25 million and $ 342 million of commercial mortgages at September 30, 2018 and 2017 , respectively. During the nine -month periods ended September 30, 2018 and 2017 , loans with a carryin g value of $ 15 million and $ 25 million, respectively, were modified in troubled debt restructurings.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2018
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES	8 . 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 September 30, 2018 Assets: Bonds available for sale $ - $ 8,130 $ - $ - $ 8,130 Other bond securities - 4,010 - 2 4,012 Mortgage and other loans receivable - 3,424 - - 3,424 Other invested assets 1,696 - 3,231 25 4,952 Other (a) 259 1,448 428 82 2,217 Total assets (b) $ 1,955 $ 17,012 $ 3,659 $ 109 $ 22,735 Liabilities: Long-term debt $ 785 $ 2,858 $ 1,922 $ 5 $ 5,570 Other (c) 138 126 172 23 459 Total liabilities $ 923 $ 2,984 $ 2,094 $ 28 $ 6,029 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 September 30, 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 September 30, 2018 and December 31, 2017 . (d) At September 30, 2018 and December 31, 2017 , off-balance sheet exposure primarily consisting of commitments to real estate and investme nt entities was $ 227 million and $ 86 m illion, respectively. (e) At September 30, 2018 and December 31, 2017 , $ 16.1 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 September 30, 2018 Real estate and investment entities (a) $ 322,117 $ 7,902 $ 1,994 $ 9,896 Affordable housing partnerships 4,116 606 - 606 Other 2,705 260 1,222 (c) 1,482 Total $ 328,938 $ 8,768 $ 3,216 $ 11,984 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 September 30, 2018 and December 31, 2017 , $ 8.5 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	9 Months Ended
	Sep. 30, 2018
DERIVATIVES AND HEDGE ACCOUNTING
DERIVATIVES AND HEDGE ACCOUNTING	9 . Derivatives and Hedge Accounting We use derivatives and other financial instruments as part of our financial risk management programs and as part of our investment operations. For a discussion of our accounting policies and procedures regarding derivatives and hedge accounting 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: September 30, 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 $ 75 $ 1 $ 811 $ 23 $ - $ - $ 838 $ 15 Foreign exchange contracts 4,323 241 4,173 269 2,823 173 4,783 350 Equity contracts - - - - - - 159 19 Derivatives not designated as hedging instruments: (a) Interest rate contracts 36,841 2,504 27,131 2,096 37,751 2,171 26,461 2,185 Foreign exchange contracts 8,877 686 8,282 818 6,305 658 11,093 895 Equity contracts 18,826 340 1,585 5 19,975 522 1,130 2 Credit contracts (b) 3 1 1,418 252 4 1 1,365 277 Other contracts (c) 38,292 15 60 3 39,829 20 59 5 Total derivatives, gross $ 107,237 $ 3,788 $ 43,460 $ 3,466 $ 106,687 $ 3,545 $ 45,888 $ 3,748 Counterparty netting (d) (1,874) (1,874) (1,464) (1,464) Cash collateral (e) (964) (290) (1,159) (1,249) Total derivatives on condensed consolidated balance sheets (f) $ 950 $ 1,302 $ 922 $ 1,035 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b ) As of September 30, 2018 and December 31, 2017 , included CDSs on super senior multi-sector CDOs with a net notional amount of $ 616 million and $ 685 million (fair value liability of $ 232 million and $ 254 million), respectively. The net notional amount represents the maximum exposur e to loss on the portfolio. As of September 30, 2018 and December 31, 2017 , there were no super senior corporate debt/CLOs remaining. (c) Consists primarily of stable value wraps and contracts with multiple 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 embedded 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 September 30, 2018 and December 31, 2017. Fair value of liabil ities related to bifurcated embedded derivatives was $ 3.4 billion and $ 4.1 billion, respectively, at September 30, 2018 and December 31, 2017. A bifurcated embedded derivative is generally pr esented with the host contract in the Condensed Consolidated Balance Sheets. Embedded derivatives are primarily related to guarantee features in variable annuity products, which include equity and interest rate components. Collateral We engage in derivative transactions that are not subject to a clearing requirement directly with unaffiliated third parties, in most cases, under International Swaps and Derivatives Association, Inc. (ISDA) Master Agreements. Many of the ISDA Master Agreements also include Credit Support Annex (CSA) provisions, which provide for collateral postings that may vary at various ratings and threshold levels. We attempt to reduce our risk with certain counterparties by entering into agreements that en able collateral to be obtained from a counterparty on an upfront or contingent basis. We minimize the risk that counterparties might be unable to fulfill their contractual obligations by monitoring counterparty credit exposure and collateral value and gene rally requiring additional collateral to be posted upon the occurrence of certain events or circumstances. In addition, certain derivative transactions have provisions that require collateral to be posted upon a downgrade of our long -term debt ratings or g ive the counterparty the right to terminate the transaction. In the case of some of the derivative transactions, upon a downgrade of our long -term debt ratings, as an alternative to posting collateral and subject to certain conditions, we may assign the tr ansaction to an obligor with higher debt ratings or arrange for a substitute guarantee of our obligations by an obligor with higher debt ratings or take other similar action. The actual amount of collateral required to be posted to counterparties in the ev ent of such downgrades, or the aggregate amount of payments that we could be required to make, depends on market conditions, the fair value of outstanding affected transactions and other factors prevailing at and after the time of the downgrade. Collateral posted by us to third parties for derivative transactions was $ 2.0 billion and $ 2.9 billion at September 30, 2018 and December 31, 2017 , respectively. In the case of collateral poste d under derivative transactions that are not subject to clearing, this collateral can generally be repledged or resold by the counterparties. Collateral provided to us from third parties for derivative transactions was $ 1.2 billion and $ 1.3 billion at September 30, 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 r esell collateral. Offsetting We have elected to present all derivative receivables and derivative payables, and the related cash collateral received and paid, on a net basis on our Condensed Consolidated Balance Sheets when a legally enforceable ISDA Master Agreement exists between us and our derivative counterparty. An ISDA Master Agreement is an agreement governing multiple derivative transactions between two counterparties. The ISDA Master Agreement generally provides for the net settlement of all, or a specified group, of these derivative transactions, as well as transferred collateral, through a single payment, and in a single currency, as applicable. The net settlement provisions apply in the event of a default on, or affecting any, one derivative transaction or a termination event affecting all, or a specified group of, derivative transactions governed by the ISDA Master Agreement. Hedge Accounting We designated certain derivatives entere d into with third parties as fair value hedges of available for sale investment securities held by our insurance subsidiaries. The fair value hedges include foreign currency forwards and cross currency swaps designated as hedges of the change in fair value of foreign currency denominated available for sale securities attributable to changes in foreign exchange rates. We also designated certain interest rate swaps entered into with third parties as fair value hedges of fixed rate GICs attributable to changes in benchmark interest rates . We use foreign currency denominated debt and cross-currency swaps as hedging instruments in net investment hedge relationships to mitigate the foreign exchange risk associated with our non-U.S. dollar functional currency forei gn subsidiaries. For net investment hedge relationships where issued debt is used as a hedging instrument, we assess the hedge effectiveness and measure the amount of ineffectiveness based on changes in spot rates. For net investment hedge relationships th at use derivatives as hedging instruments, we assess hedge effectiveness and measure hedge ineffectiveness using changes in forward rates. For the three - and nine -month periods ended September 30, 2018 , we recognized a gain of $ 28 million and $ 27 million, respectively, and for the three - and nine -month periods ended September 30, 2017 , we recognized losses of $ 39 million and $ 87 million, respectively, included in Change in foreign currency translation adjustment in Other comprehensive income related to the net investment hedge relationships. A qualitative methodology is utilized to assess 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 September 30, 2018 Interest rate contracts : Realized capital gains/(losses) $ (1) $ 1 $ - $ - $ - Foreign exchange contracts : Realized capital gains/(losses) (11) 16 - 5 - Other income - - - - - Equity contracts : Realized capital gains/(losses) - - - - - Three Months Ended September 30, 2017 Interest rate contracts : Realized capital gains/(losses) $ (1) $ 1 $ - $ - $ - Foreign exchange contracts : Realized capital gains/(losses) (157) 142 - (15) - Other income - - - - - Equity contracts : Realized capital gains/(losses) (3) 2 - (1) - Nine Months Ended September 30, 2018 Interest rate contracts : Realized capital gains/(losses) $ (9) $ 10 $ 1 $ - $ - Foreign exchange contracts : Realized capital gains/(losses) 184 (175) - 9 - Other income - - - - - Equity contracts : Realized capital gains/(losses) - - - - - Nine Months Ended September 30, 2017 Interest rate contracts : Realized capital gains/(losses) $ 1 $ (1) $ - $ - $ - Foreign exchange contracts : Realized capital gains/(losses) (318) 332 - 14 - Other income - 4 - - 4 Equity contracts : Realized capital gains/(losses) (29) 26 - (3) - (a) The amounts presented do not include the periodic net coupon settlements of the derivative contract or the coupon income (expense) related to the hedged item. (b) Represents accretion/amortization of opening fair value of the hedged item at inception of hedge relationship, amortization of basis adjustment on hedged item following the discontinuation of hedge accounting, and the release of debt basis adjustment following the repurchase of issued debt that was part of pr eviously-discontinued fair value h edge relationship. Derivatives Not Designated as Hedging Instruments The following table presents the effect of derivative instruments not designated as hedging instruments i n the Condensed Cons olidated Statement s of Income : Gains (Losses) Recognized in Earnings Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 By Derivative Type: Interest rate contracts $ (270) $ (18) $ (892) $ 81 Foreign exchange contracts 43 (98) 295 (220) Equity contracts (199) (233) (386) (723) Credit contracts 6 19 18 55 Other contracts 18 19 52 55 Embedded derivatives 229 (213) 1,164 (326) Total $ (173) $ (524) $ 251 $ (1,078) By Classification: Policy fees $ 17 $ 20 $ 51 $ 59 Net investment income - (3) (3) (10) Net realized capital gains (losses) (223) (550) 133 (1,250) Other income 35 8 76 121 Policyholder benefits and claims incurred (2) 1 (6) 2 Total $ (173) $ (524) $ 251 $ (1,078) Credit Risk-Related Contingent Features We estimate that at September 30, 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 $ 49 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 $ 421 m illion a nd $ 572 m illion at September 30, 2018 and December 31, 2017 , respectively. The aggregate fair value of assets posted as collateral under these contracts at September 30, 2018 and December 31, 2017 , was approximately $ 466 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 $ 4.0 billion and $ 4.4 billion at September 30, 2018 and December 31, 2017 , respectively. These securities have par amounts of $ 8.6 billion and $ 9.1 billion at September 30, 2018 and December 31, 2017 , respectively, and have remaining stated maturity dates that extend to 2052.

INSURANCE LIABILITIES

INSURANCE LIABILITIES	9 Months Ended
	Sep. 30, 2018
Insurance Liabilites
INSURANCE LIABILITIES	10 . Insurance Liabilities Liability for Unpaid Losses and Loss Adjustment Expense s (Loss Reserves) Loss reserves represent the accumulation of estimates of unpaid claims, including estimates for claims incurred but not reported (IBNR) and loss adjustment expenses ( LAE ), less applicable discount. We regularly review and update the methods used to determine loss reserve estimates. Any adjustments resulting from this review are reflected currently in pre-tax income, except to the extent it imp acts a deferred gain under a retroactive reinsurance agreement in which case the ceded portion would be amortized into pre-tax income in subsequent periods. Because these estimates are subject to the outcome of future events, changes in estimates are commo n 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 referred 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 contractual deductible recoverable amounts due from policyholders of approximate ly $12.1 billion and $ 12.6 billion at September 30, 2018 and December 31, 2017 , respectively . These recoverable amounts are related to certain policies with high deductibles (in excess of high dollar amoun ts 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 portio n 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 September 30, 2018 and December 31, 2017 , we held collateral of approximatel y $9.3 billion and $9.5 billion , respectively, 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 Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 76,713 $ 76,422 $ 78,393 $ 77,077 Reinsurance recoverable (27,406) (27,660) (26,708) (15,532) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 49,307 48,762 51,685 61,545 Losses and loss adjustment expenses incurred : Current year 6,670 7,511 15,800 16,021 Prior years, excluding discount and amortization of deferred gain 949 901 884 1,354 Prior years, discount charge (benefit) 3 48 (174) 283 Prior years, amortization of deferred gain on retroactive reinsurance (a) (175) (75) (283) (195) Total losses and loss adjustment expenses incurred 7,447 8,385 16,227 17,463 Losses and loss adjustment expenses paid : Current year (1,791) (1,634) (3,289) (3,342) Prior years (4,526) (3,395) (14,312) (12,438) Total losses and loss adjustment expenses paid (6,317) (5,029) (17,601) (15,780) Other changes : Foreign exchange effect (236) 330 (393) 688 Acquisitions (b) 3,020 - 3,020 - Retroactive reinsurance adjustment (net of discount) (c) (464) 22 (181) (11,438) Reclassified to liabilities held for sale (d) - 8 - - Total other changes 2,320 360 2,446 (10,750) Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 52,757 52,478 52,757 52,478 Reinsurance recoverable 29,202 27,609 29,202 27,609 Total $ 81,959 $ 80,087 $ 81,959 $ 80,087 (a) Includes $9 million and $6 million for the retroactive reinsurance agreement with NICO covering U.S. asbestos exposures for t he three -month periods ended September 30 , 2018 and 2017, respectively, and $22 million and $11 million for the nine-month periods ended September 30 , 2018 and 2017, respectively. (b) Amounts relate to the acquisition of Validus in July 2018. (c) Includes discount on retroactive reinsurance of $46 million and $(53) million for the three -month peri ods ended September 30 , 2018 and 2017, respectively, and $154 million and $1.5 billion for the nine-month periods ended September 30 , 2018 and 2017, respectively . (d) Represents change in loss reserves included in our sale of certain of our insurance oper ations to Fairfax Financial Holdings Limited ( Fairfax ) for the three - and nine-month periods ended September 30 , 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 September 30, 201 8 were below the attachment point . Discounting of Loss Reserves At September 30, 2018 , the loss reserves reflect a net loss reserve discount of $2.0 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 $ 1.4 billion of non-tabular discount for workers’ compensation. During the nine -month peri ods ended September 3 0 , 2018 and 2017, the benefit/(charge) from changes in discount of $ 305 million and $ (283) million, respectively, were recorded as part of the policyholder benefits and losses incurred in the Consolidated Statement of Income. The follo wing table presents the components of the loss reserve discount discussed above: September 30, 2018 December 31, 2017 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total U.S. workers' compensation $ 2,733 $ 955 $ 3,688 $ 2,465 $ 918 $ 3,383 Retroactive reinsurance (1,693) - (1,693) (1,539) - (1,539) Total reserve discount * $ 1,040 $ 955 $ 1,995 $ 926 $ 918 $ 1,844 * Excludes $ 182 million and $173 million of discount related to certain long tail liabilities in the United Kingdom at September 30, 2018 and December 31, 2017 , respectively. The following table s present the net loss reserve discount benefit (charge) : Three Months Ended September 30, 2018 2017 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total Current accident year $ 89 $ - $ 89 $ 33 $ - $ 33 Accretion and other adjustments to prior year discount (7) (12) (19) (100) 25 (75) Effect of interest rate changes 13 3 16 (7) 1 (6) Net reserve discount benefit (charge) 95 (9) 86 (74) 26 (48) Change in discount on loss reserves ceded under retroactive reinsurance (46) - (46) 53 - 53 Net change in total reserve discount (a) $ 49 $ (9) $ 40 $ (21) $ 26 $ 5 Nine Months Ended September 30, 2018 2017 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total Current accident year $ 131 $ - $ 131 $ 94 $ - $ 94 Accretion and other adjustments to prior year discount (95) (42) (137) (205) (34) (239) Effect of interest rate changes 232 79 311 (96) (42) (138) Net reserve discount benefit (charge) 268 37 305 (207) (76) (283) Change in discount on loss reserves ceded under retroactive reinsurance (154) - (154) (1,494) - (1,494) Net change in total reserve discount (b) $ 114 $ 37 $ 151 $ (1,701) $ (76) $ (1,777) (a) Excludes $12 million and $(18) million discount related to certain long tail liabilities in the United Kingdom for the three-month periods ended September 30, 2018 and 2017, respectively. (b) Excludes $10 million and $20 million discount related to certain long tail liabilities in the United Kingdom for the nine-month periods ended September 30, 2018 and 2017, respectively. During the nine-month period ended September 30, 2018 effective interest rates increased due to an increase in the forward yield curve component of the discount rates reflecting an increase in U.S. Treasury rates along with changes in payout pattern assumptions. This resulted in an increase in the loss reserve discount by $311 million in the nine-month period e nded September 30, 2018. During the nine-month period ended September 30, 2017 effective interest rates decreased due to a decrease in the forward yield curve component of the discount rates reflecting a decrease in U.S. Treasury rates along with changes i n payout pattern assumptions. This resulted in a decrease in the loss reserve discount by $138 million in the nine-month period ended September 30, 2017.

CONTINGENCIES, COMMITMENTS AND

CONTINGENCIES, COMMITMENTS AND GUARANTEES	9 Months Ended
	Sep. 30, 2018
CONTINGENCIES, COMMITMENTS AND GUARANTEES
CONTINGENCIES, COMMITMENTS AND GUARANTEES	11 . Contingencies, Commitments and Guarantees In the normal course of business, various contingent liabilities and commitments are entered into by AIG and our subsidiaries. In addition, AIG Parent guarantees various obligations of certain subsidiaries. Although AIG cannot currently quantify its ultimate liability for unresolved litigation and investigation matters, including those referred to below, it is possible that such liability could have a material adverse effect on AIG’s consolidate d financial condition or its consolidated results of operations or consolidated cash flows for an individual reporting period. Legal Contingencies Overview. In the normal course of business, AIG and our subsidiaries are, like others in the insurance and f inancial services industries in general, subject to 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 . Tax Litigation We are party to pending tax litigation before the Southern D istrict of New York. For additional information see Note 15 to the Condensed Consoli dated 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 $ 3.6 billion at September 30, 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 Produ cts Corp. and related subsidiaries (collectively AIGFP) and of AIG Markets arising from transactions entered into by AIG Markets. In connection with AIGFP’s business activities, AIGFP has issued, in a limited number of transactions, standby letters of cre dit or similar facilities to equity investors of structured leasing transactions in an amount equal to the termination value owing to the equity investor by the lessee in the event of a lessee default (the equity termination value). The total amount outsta nding at September 30, 2018 was $ 85 million. In those transactions, AIGFP has agreed to pay such amount if the lessee fails to pay. The amount payable by AIGFP is, in certain cases, partially offset by amounts payable under ot her instruments typically equal to the present value of scheduled payments to be made by AIGFP. In the event that AIGFP is required to make a payment to the equity investor, the lessee is unconditionally obligated to reimburse AIGFP. To the extent that the equity investor is paid the equity termination value from the standby letter of credit and/or other sources, including payments by the lessee, AIGFP takes an assignment of the equity investor’s rights under the lease of the underlying property. Because th e obligations of the lessee under the lease transactions are generally 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 ta x return with certain subsidiaries and acts as an agent for the consolidated 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 consoli dated 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 A IGB for any tax liability (including interest and penalties) resulting 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 enti ties. Asset Dispositions We are subject to financial guarantees and indemnity arrangements in connection with the completed sales of businesses pursuant to our asset disposition plan. The various arrangements may be triggered by, among other things, declin es in asset values, the occurrence of specified business contingencies, the realization of contingent liabilities, developments in litigation or breaches of representations, warranties or covenants provided by us. These arrangements are typically subject t o various time limitations, defined by the contract or by operation of 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 ar e not applicable. We are unable to develop a reasonable estimate of the 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 arrangements have been recorded in the Condensed Consolidated Balance Sheets. Other For additional discussion on commitments and guarantees associated with VIEs see Note 8 . For additional dis closures about derivatives see Note 9 . For additional disclosures about guarantees of outstanding debt and Preference Shares of Validus and outstanding debt of AIG Life Holdings, Inc. (AIGLH), see Note 16

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2018
EQUITY
EQUITY	12 . Equity Shares Outstanding The following table presents a rollforward of outstand ing shares : Nine Months Ended September 30, 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 - 4,055,727 4,055,727 Shares repurchased - (18,452,857) (18,452,857) Shares, end of period 1,906,671,492 (1,022,023,965) 884,647,527 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 resources 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 following table presents declaration date, record dat e, payment date and dividends paid per share on AIG Common Stock: Dividends Paid Declaration Date Record Date Payment Date Per Share August 2, 2018 September 17, 2018 September 28, 2018 $ 0.32 May 2, 2018 June 14, 2018 June 28, 2018 0.32 February 8, 2018 March 15, 2018 March 29, 2018 0.32 August 2, 2017 September 15, 2017 September 29, 2017 0.32 May 3, 2017 June 14, 2017 June 28, 2017 0.32 February 14, 2017 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: Nine Months Ended September 30, (in millions) 2018 2017 Aggregate repurchases of common stock $ 994 $ 6,275 Total number of common shares repurchased 18 100 Aggregate repurchases of warrants $ 6 $ 3 Total number of warrants repurchased * - - * For the nine -month period s ended September 30, 2018 and 2017 , we repurchased 366,253 and 185,000 warrants to purchase shares of AIG Common Stock , respectively. 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 repur chase authorization. As of September 30, 2018 , approximately $ 1.3 billion remained under our share repurchase authorization. Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise (including through the purchase of warrants) . Certain of our share repurchases have been and may from time to time be effected through Exchange Act Rule 10b5-1 re purchase 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 (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, June 30, 2018, net of tax $ (234) $ 3,944 $ (2,426) $ (1,062) $ 8 $ 230 Cumulative effect of change in accounting principles - - - - - - Change in unrealized appreciation (depreciation) of investments 350 (1,301) - - - (951) Change in deferred policy acquisition costs adjustment and other (205) 216 - - - 11 Change in future policy benefits - 340 - - - 340 Change in foreign currency translation adjustments - - (131) - - (131) Change in net actuarial loss - - - 16 - 16 Change in prior service cost - - - - - - Change in deferred tax asset (liability) (38) (13) 2 (2) - (51) Change in fair value of liabilities under fair value option attributable to changes in own credit risk - - - - - - Total other comprehensive income (loss) 107 (758) (129) 14 - (766) Noncontrolling interests - - - - - - Balance, September 30, 2018, net of tax $ (127) $ 3,186 $ (2,555) $ (1,048) $ 8 $ (536) 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 (1,258) (7,659) - - - (8,917) Change in deferred policy acquisition costs adjustment and other (91) 1,121 - - - 1,030 Change in future policy benefits - 1,464 - - - 1,464 Change in foreign currency translation adjustments - - (154) - - (154) Change in net actuarial loss - - - 54 - 54 Change in prior service credit - - - (2) - (2) Change in deferred tax asset (liability) 260 852 (27) 14 - 1,099 Change in fair value of liabilities under fair value option attributable to changes in own credit risk - - - - 1 1 Total other comprehensive income (loss) (1,089) (4,222) (181) 66 1 (5,425) Noncontrolling interests - - - - - - Balance, September 30, 2018, net of tax $ (127) $ 3,186 $ (2,555) $ (1,048) $ 8 $ (536) 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, June 30, 2017, net of tax $ 659 $ 7,753 $ (2,507) $ (943) $ - $ 4,962 Change in unrealized appreciation of investments 223 855 - - - 1,078 Change in deferred policy acquisition costs adjustment and other (73) (271) - - - (344) Change in future policy benefits - 114 - - - 114 Change in foreign currency translation adjustments - - 328 - - 328 Change in net actuarial loss - - - 96 - 96 Change in prior service cost - - - - - - Change in deferred tax liability (53) (206) (3) (33) - (295) Total other comprehensive income 97 492 325 63 - 977 Noncontrolling interests - - - - - - Balance, September 30, 2017, net of tax $ 756 $ 8,245 $ (2,182) $ (880) $ - $ 5,939 Balance, December 31, 2016, net of tax $ 426 $ 6,405 $ (2,629) $ (972) $ - $ 3,230 Change in unrealized appreciation of investments 564 3,693 - - - 4,257 Change in deferred policy acquisition costs adjustment and other * (56) (1,269) - - - (1,325) Change in future policy benefits - (425) - - - (425) Change in foreign currency translation adjustments - - 474 - - 474 Change in net actuarial loss - - - 134 - 134 Change in prior service cost - - - 6 - 6 Change in deferred tax liability (178) (159) (27) (48) - (412) Total other comprehensive income 330 1,840 447 92 - 2,709 Noncontrolling interests - - - - - - Balance, September 30, 2017, net of tax $ 756 $ 8,245 $ (2,182) $ (880) $ - $ 5,939 * In cludes net unrealized gains attributable to businesses held for sale. The following table presents the other comprehensive income reclassification adjustments for the three - and nine -month periods e nded September 30, 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 Three Months Ended September 30, 2018 Unrealized change arising during period $ 146 $ (705) $ (131) $ 7 $ - $ (683) Less: Reclassification adjustments included in net income 1 40 - (9) - 32 Total other comprehensive income (loss), before income tax expense (benefit) 145 (745) (131) 16 - (715) Less: Income tax expense (benefit) 38 13 (2) 2 - 51 Total other comprehensive income (loss), net of income tax expense (benefit) $ 107 $ (758) $ (129) $ 14 $ - $ (766) Three Months Ended September 30, 2017 Unrealized change arising during period $ 160 $ 831 $ 328 $ 38 $ - $ 1,357 Less: Reclassification adjustments included in net income 10 133 - (58) - 85 Total other comprehensive income, before income tax expense 150 698 328 96 - 1,272 Less: Income tax expense 53 206 3 33 - 295 Total other comprehensive income, net of income tax expense $ 97 $ 492 $ 325 $ 63 $ - $ 977 Nine Months Ended September 30, 2018 Unrealized change arising during period $ (1,344) $ (5,055) $ (154) $ 26 $ 1 $ (6,526) Less: Reclassification adjustments included in net income 5 19 - (26) - (2) Total other comprehensive income (loss), before income tax expense (benefit) (1,349) (5,074) (154) 52 1 (6,524) Less: Income tax expense (benefit) (260) (852) 27 (14) - (1,099) Total other comprehensive income (loss), net of income tax expense (benefit) $ (1,089) $ (4,222) $ (181) $ 66 $ 1 $ (5,425) Nine Months Ended September 30, 2017 Unrealized change arising during period $ 553 $ 2,610 $ 474 $ 62 $ - $ 3,699 Less: Reclassification adjustments included in net income 45 611 - (78) - 578 Total other comprehensive income, before income tax expense 508 1,999 474 140 - 3,121 Less: Income tax expense 178 159 27 48 - 412 Total other comprehensive income, net of income tax expense $ 330 $ 1,840 $ 447 $ 92 $ - $ 2,709 The following table presents the effect of the reclassification of significant items out of Accumulated other comprehensive income on the respective line items in the Condensed Consolidated Statement s of Income: Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income Three Months Ended September 30, (in millions) 2018 2017 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 1 $ 10 Other realized capital gains Total 1 10 Unrealized appreciation (depreciation) of all other investments Investments 10 48 Other realized capital gains Deferred acquisition costs adjustment 30 85 Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 40 133 Change in retirement plan liabilities adjustment Prior-service credit - - * Actuarial losses (9) (58) * Total (9) (58) Total reclassifications for the period $ 32 $ 85 Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income Nine Months Ended September 30, (in millions) 2018 2017 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 5 $ 45 Other realized capital gains Total 5 45 Unrealized appreciation (depreciation) of all other investments Investments 19 415 Other realized capital gains Deferred acquisition costs adjustment - 196 Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 19 611 Change in retirement plan liabilities adjustment Prior-service credit 1 1 * Actuarial losses (27) (79) * Total (26) (78) Total reclassifications for the period $ (2) $ 578 * These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 14 .

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)	9 Months Ended
	Sep. 30, 2018
EARNINGS PER SHARE (EPS)
EARNINGS PER SHARE (EPS)	13 . Earnings Per Share (EPS) The basic EPS computation is based on the weighted average number of common shares outstanding, adjusted to reflect all stock dividends and stock splits. The d iluted EPS computation is based on those shares used in the basic EPS computation plus shares that would have been outstanding assuming issuance of common shares for all dilutive 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 Nine Months Ended September 30, September 30, (dollars in millions, except per share data) 2018 2017 2018 2017 Numerator for EPS: Income (loss) from continuing operations $ (1,220) $ (1,712) $ 661 $ 609 Less: Net income from continuing operations attributable to noncontrolling interests - 26 5 40 Income (loss) attributable to AIG common shareholders from continuing operations (1,220) (1,738) 656 569 Income (loss) from discontinued operations, net of income tax expense (39) (1) (40) 7 Net income (loss) attributable to AIG common shareholders $ (1,259) $ (1,739) $ 616 $ 576 Denominator for EPS: Weighted average shares outstanding — basic 895,237,359 908,667,044 902,081,555 938,130,832 Dilutive shares - - 14,736,714 23,165,114 Weighted average shares outstanding — diluted (a)(b) 895,237,359 908,667,044 916,818,269 961,295,946 Income (loss) per common share attributable to AIG: Basic: Income (loss) from continuing operations $ (1.37) $ (1.91) $ 0.72 $ 0.60 Income (loss) from discontinued operations $ (0.04) $ - $ (0.04) $ 0.01 Income (loss) attributable to AIG $ (1.41) $ (1.91) $ 0.68 $ 0.61 Diluted: Income (loss) from continuing operations $ (1.37) $ (1.91) $ 0.71 $ 0.59 Income (loss) from discontinued operations $ (0.04) $ - $ (0.04) $ 0.01 Income (loss) attributable to AIG $ (1.41) $ (1.91) $ 0.67 $ 0.60 (a) Shares in the diluted EPS calculation represent basic shares for the three-month periods ended September 30, 2018 and 2017 due to the net losses in those periods. The shares excluded from the calculation were 13,538,168 and 22,459,868 shares, respectively. ( b ) Dilutive shares included 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 5.8 mill ion and 4.7 million for the three - and nine - month periods ended September 30, 2018 , respectively, and 2.4 mill ion and 2.0 million for the three - and nine - month periods ended September 30, 2017 , respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	9 Months Ended
	Sep. 30, 2018
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS	14 . Employee Benefits We sponsor various defined benefit pension plans, post-retirement medical and life insurance plans for eligible employees and retirees in the U.S. and certain non-U.S. countries. The following table presents the components of net periodic benefit cost with respect to pensions and other postretirement benefits: Pension Postretirement U.S. Non-U.S. U.S. Non-U.S. (in millions) Plans Plans Total Plans Plans Total Three Months Ended September 30, 2018 Components of net periodic benefit cost: Service cost $ - $ 6 $ 6 $ - $ - $ - Interest cost 41 4 45 1 1 2 Expected return on assets (72) (6) (78) - - - Amortization of prior service cost - - - - - - Amortization of net loss 7 2 9 - - - Net periodic benefit cost (credit) $ (24) $ 6 $ (18) $ 1 $ 1 $ 2 Three Months Ended September 30, 2017 Components of net periodic benefit cost: Service cost $ (5) $ 7 $ 2 $ - $ 1 $ 1 Interest cost 41 4 45 2 1 3 Expected return on assets (66) (6) (72) - - - Amortization of prior service cost - - - - - - Amortization of net loss 6 3 9 - - - Curtailment gain - (5) (5) - - - Settlement charges 50 - 50 - - - Net periodic benefit cost $ 26 $ 3 $ 29 $ 2 $ 2 $ 4 Nine Months Ended September 30, 2018 Components of net periodic benefit cost: Service cost $ 4 $ 17 $ 21 $ 1 $ 1 $ 2 Interest cost 122 12 134 4 2 6 Expected return on assets (213) (19) (232) - - - Amortization of prior service cost (credit) - 1 1 (1) (1) (2) Amortization of net loss 21 6 27 - - - Net periodic benefit cost (credit) $ (66) $ 17 $ (49) $ 4 $ 2 $ 6 Nine Months Ended September 30, 2017 Components of net periodic benefit cost: Service cost $ 8 $ 23 $ 31 $ 1 $ 2 $ 3 Interest cost 126 12 138 5 3 8 Expected return on assets (194) (18) (212) - - - Amortization of prior service credit - - - (1) - (1) Amortization of net loss 20 9 29 - - - Curtailment gain - (5) (5) - - - Settlement charges 50 - 50 - - - Net periodic benefit cost $ 10 $ 21 $ 31 $ 5 $ 5 $ 10 For the nine -month period ended September 30, 2018 , we did not make any contributions to the U.S. AIG Retirement Plan.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2018
INCOME TAXES
INCOME TAXES	15 . 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. Our provision al estimate of $6.7 billion wa s based in part on a reasonable estimate of the effects of the statutory income tax rate reduction on existing deferred tax balances a nd of certain provi sions of the Tax Act. We recently filed our 2017 consolidated U.S. income tax return and have substantially completed our review of the primary impact of the Tax Act provisions on our deferred taxes. As a result, we consider t he accounti ng for the effects of the rate change on deferred tax balances to be complete and no material measurement period changes were recorded for this item. As further guidance is issued by the U.S. tax authority, any resulting changes in our estimates will be tr eated in accordance with the relevant accounting guidance. 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 payments to affiliated foreign companies. There are substantial uncertainties in the interpretation of BEAT and GILTI and formal guidance fro m the U.S. tax authority is still pending. Such guidance may result in changes to the interpretations and assumptions we made and actions we may take, which may impact amounts recorded with respect to international provisions of the Tax Act, possibly mater ially. 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 de termined 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 for eign subsidiaries. We were able to reasonably estimate the deemed repatriation tax and originally recorded a provisional estimated tax benefit of $ 38 million at December 31, 2017 . We have comp leted our review of post-1986 E&P computations of our foreign affiliates. Incorporating additional IRS guidance issued with respect to the deemed repatriation tax, as well as the relevant basis adjustments, we recognized a measurement period tax charge of $ 62 million. The effect of deemed repatriation tax , which has now been determined to be complete, resulted in a liability of $ 24 million. Other Provisions The Tax Act modified computations of insurance reserves for both life and general insurance companies. For life insurance companies, tax reserves 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 co mpanies. Accordingly, these changes give rise to new deferred tax liabilities. At December 31, 2017, we recorded a provisional estimate of $ 1.9 billion with respect to such deferred tax liabilities. T his increase in deferred tax liabilities was offset by an increase in the deferred tax asset related to insurance reserves as a result of applying the new provisions of the Tax Act. As of September 30, 2018 , these estimates remain provisiona l. 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 account dividends received deduction. Provisiona l 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 related 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. While we have substantively completed our review of the primary impact of the Tax Act provisions on our deferred tax balances, we a re still analyzing the complex interplay of the new tax rules with the rules governing the utilization of our tax attributes. We expect to finalize this analysis and to complete our accounting within the prescribed measurement period. Accordingly, as of September 30, 2018 , these estimates remain provisional. Tax effects for which no estimate can be determined At December 31, 2017 , our accounting for the following elements of the Tax Act was 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 investments and partnerships in which we are a non-controlling interest owner. At December 31, 2017 , the information needed to determine a provisional estimate was not currently available (such as for interest deduction limitations in those entities and the changed definition of a U.S. Shareholder), and accordingly, no provisional estimates we re recorded. We have since completed our review of these investments and partnerships. As of September 30, 2018 , we consider t he a ccounting for this item to be complete and no measurement period change was recorded . At December 31, 2017 , due to minimal formal guidance issued from state and local jurisdictions, provisional estimates were not recorded for the impact of any state and local corporate income tax implications of the Tax Act. Guidance from state and local jurisdictions has varied and most have not formally passed law spe cific to the treatment of the Tax Act . While we have not identified any material impact at this point in time, we continue to review any guidance issued by those states that have passed tax legislation re lated to the Tax Act and continue to work through the state and local corporate income tax implications of the Tax Act. We expect further guidance throughout 2018 , and the impact, if any, will be recorded when the related guidance is issued. If new law or guidance is issued beyond this period, any further change will be reflected in the period in which the new law is enacted under relevant accounting guidance. 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 (AOCI) that arise due to the enactment of the Tax Act to retained earnings. We elected to early adopt the standard for the three-month 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. As of September 30, 2018 , the effect of the Tax Act on gross tempor ary differences related to AOCI is complete, and no additional reclassification adjustments were recorded. 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 b asis, 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. Certa in items, including those deemed to be unusual, infrequent or that cannot be reliably estimated, are excluded from the estimated annual effective tax rate. In these cases, the actual tax expense or benefit is reported in the same period as the related item . Certain tax effects are also not reflected in the estimated annual effective tax rate, primarily certain changes in the realizability of deferred tax assets and uncertain tax positions, and are recorded in the period in which the change occurs. While ce rtain 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. As of September 30, 2018 , the annual effective tax rate includes the tax effects of significant catastrophe losses recognized in the third quarter of 2018. Interim Tax Expense (Benefit) For the three - month period ended September 30, 2018 , the effective tax rate on loss from continuing operations was 20.1 percent . The effective tax rate on loss from continuing operations differs from the statutory tax rate of 21 percent p rimarily due to tax charges related to income in our foreign operations taxed at statutory tax rates higher than 21 percent, additional U.S. taxes imposed on income of our foreign subsidiaries under international provisions of the T ax Act, valuation allowance activity related to certain foreign subsidiaries and non-deductible transfer pricing charges, partially offset by tax benefits associated with tax exempt income, and reclassifications from accumulated other comprehensive income to income from continuing operations related to the disposal of available for sale securities. As noted above, we also recorded a measurement period tax charge of $ 62 million related to the effe cts of the deemed repatriation tax. For the nine -month period ended September 30, 2018 , the effective tax rate on income from continuing operations was 30.6 percent . The effective tax rat e 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 pe rcent, additional U.S. taxes imposed on income of our foreign subsidiaries under international provisions of the Tax Act, v aluation allowance activity related to certain foreign subsidiaries and state jurisdictions and non-deductible transfer pricing ch arges, 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 sale securities and excess tax deductions related to share based compensation payments recorded through the income statement. For the three -month period ended September 30, 2017 , the effective tax rate on loss from continuing operations was 38.9 percent. The effective tax rate on loss from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits associated with tax exempt income and reclassifications from accumulated other comprehensiv e income to income from continuing operations related to the disposal of available for sale securities, partially offset by tax charges related to losses in our European operations taxed at a statutory tax rate lower than 35 percent. For the nine -month period ended September 30, 2017 , the effective tax rate on income from continuing operations was not meaningful, due to a tax benefit on pre-tax income. The tax benefit was primarily due to tax exempt income, reclassifications from ac cumulated 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 through the income statement in accordance wi th relevant accounting literature, partially offset by tax charges related to increases in uncertain tax positions associated with the impact of settlement discussions with the IRS related to certain open tax issues and losses in our European operations ta xed at a statutory tax rate lower than 35 percent. As a result of the Tax Act, the majority of accumulated foreign earnings that were previously untaxed are subject to a one-time deemed repatriation tax. Going forward, certain foreign earnings of our forei gn 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 th e nine - month period ended September 30, 2018 , we consider our foreign earnings with respect to certain operations in Canada, 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 indefinit ely 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 with the extent to which it can be objectively verified. The more negative evidence that exists, the more pos itive evidence is necessary and the more difficult it is to support a conclusion that a valuation allowance is not needed. Our framework for assessing the recoverability of the deferred tax asset requires us to consider all available evidence, including: t he nature, frequency, and amount of cumulative financial reporting income and losses in recent years; the sustainability of recent operating profitability of our subsidiaries; the predictability of future operating profitability of the character necessary to realize the net deferred tax asset; the carryforward period for the net operating loss, capital loss and foreign tax credit carryforwards, including the effect of reversing taxable temporary differences; and prudent and feasible actions and tax planning strategies that would be implemented, if necessary, to protect against the loss of the deferred tax asset. In performing our assessment of the recoverability of the deferred tax 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 group includes both life companies and non-life companies. While the U.S. taxable income of our non-life compan ies 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 concurrently which enables us to realize our tax attributes prior to expiration. As of September 30, 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 utilized 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 materially, which may require us to consider any potential impact to our assessment of the recoverability of the deferred tax asset. Such potential impact could be material to our consolidated financial condition or results of operations for an individual reporting period. For the three - and nine -month periods ended September 30, 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 sale securities portfolio, resulting in a deferred tax asset related to net unreal ized 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 recoverability, we consider our ability and intent to hold the underlying securities to re covery . As of September 30, 2018 , based on all available evidence, we concluded that a valuation allowance should be established on a portion of the deferred tax asset related to unrealized losses that are not more-likely-than-not to be real ized. For both the three - and nine -month periods ended September 30, 2018 , we established $ 149 million of valuation allowance associated with the unrealized tax losses in the U.S. Life Insurance Companies’ available for sale securities portfolio, all of which was allocated to other comprehensive income. For the three - and nine -month periods ended September 30, 2018 , recent changes in market conditions, including rising interest rates, impacted the unrealized tax gains and losses in the U.S. Non-Life Companies’ available for sale securities portfolio, resulting in a decrease to the deferred tax liability related to net unrealized tax capital g ains. As of September 30, 2018 , we continue to be in an overall unrealized tax gain position with respect 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 - and nine -month period s ended September 30, 2018 , we recognized net increases of $ 5 million and $ 42 million, respectively, in our deferred tax asset valuation allowance associated with certain foreign subsidiaries and state jurisdictions, primarily attributable to current year activ ity. Tax Examinations and Litigation On August 1, 2012, we filed a motion for partial summary judgment related to the disallowance of foreign tax credits associated with cross border financing transactions in the Southern District of New York. The Southern District of New York denied our summary judgment motion and upon AIG’s appeal, the U.S. Court of Appeals for the Second Circuit (the Second Circuit) affirmed the denial. AIG’s petition for certiorari to the U.S. Supreme Court from the decision of the Seco nd 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 dispute 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 outcom e 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 Uncertain ty in Income Taxes At both September 30, 2018 and December 31, 2017 , our unrecognized tax benefits, excluding interest and penalties were $ 4.7 billion. At September 30, 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 $ 45 million and $ 28 million, respectively. Accordingly, at both September 30, 2018 and December 31, 2017 , the amounts of u nrecognized 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 tax expens e. At September 30, 2018 and December 31, 2017 , we had accrued liabilities of $ 2.2 billion and $ 2.0 billion , respectively, for the payment of interest (net of the federal benefit) and penalties. For the nine -month periods ended September 30, 2018 and 2017 , we accrued expense (benefit) of $ 148 mill ion and $ 102 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 of prior years’ tax items. The prior years’ tax items include unrecognized tax benefits related to the deductibility of certain e xpenses and matters related to cross border financing transactions.

INFORMATION PROVIDED IN CONNECT

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT	9 Months Ended
	Sep. 30, 2018
Schedule II Condensed Financial Information of Registrant - Parent Company Only
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT	16 . Information Provided in Connection with Outstanding Debt and Preference Shares The following Condensed Consolidating Financial Statements reflect the results of Validus Holdings , Ltd. and AIG L ife H oldings, Inc. (AIGLH) , each a holding compan y and a wholly owned subsidiar y of AIG. AIG provides a full and unconditional guarantee of the senior notes and Preference Shares of Validus and all outstanding debt of AIGLH. Condensed Consolidating Balance Sheets American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG September 30, 2018 Assets: Short-term investments (a) $ 1,459 $ 2 $ - $ 9,150 $ (1,748) $ 8,863 Other investments (b) 4,016 13 - 303,171 - 307,200 Total investments 5,475 15 - 312,321 (1,748) 316,063 Cash 3 66 3 2,669 - 2,741 Loans to subsidiaries (c) 34,713 - - 572 (35,285) - Investment in consolidated subsidiaries (c) 36,727 4,120 27,038 - (67,885) - Other assets, including deferred income taxes (d) 15,996 2,289 170 169,420 (1,819) 186,056 Total assets $ 92,914 $ 6,490 $ 27,211 $ 484,982 $ (106,737) $ 504,860 Liabilities: Insurance liabilities $ - $ - $ - $ 291,391 $ - $ 291,391 Long-term debt 22,459 710 643 10,782 - 34,594 Other liabilities, including intercompany balances (b) 11,296 416 132 111,419 (3,565) 119,698 Loans from subsidiaries (c) 573 - - 34,713 (35,286) - Total liabilities 34,328 1,126 775 448,305 (38,851) 445,683 Total AIG shareholders’ equity 58,586 5,364 26,436 36,086 (67,886) 58,586 Non-redeemable noncontrolling interests - - - 591 - 591 Total equity 58,586 5,364 26,436 36,677 (67,886) 59,177 Total liabilities and equity $ 92,914 $ 6,490 $ 27,211 $ 484,982 $ (106,737) $ 504,860 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 September 30, 2018 , includes restricted cash of $ 1 million and $ 27 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 September 30, 2018 , includes restricted cash of $ 1 million and $ 353 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 Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG Three Months Ended September 30, 2018 Revenues: Equity in earnings of consolidated subsidiaries * $ (989) $ (93) $ 1,316 $ - $ (234) $ - Other income 183 23 1 11,412 (133) 11,486 Total revenues (806) (70) 1,317 11,412 (367) 11,486 Expenses: Interest expense 244 10 12 63 (3) 326 Loss on extinguishment of debt - - - 1 - 1 Other expenses 132 2 1 12,513 38 12,686 Total expenses 376 12 13 12,577 35 13,013 Income (loss) from continuing operations before income tax expense (benefit) (1,182) (82) 1,304 (1,165) (402) (1,527) Income tax expense (benefit) 38 - (2) (343) - (307) Income (loss) from continuing operations (1,220) (82) 1,306 (822) (402) (1,220) Loss from discontinued operations, net of income taxes (39) - - - - (39) Net income (loss) (1,259) (82) 1,306 (822) (402) (1,259) Less: Net income (loss) from continuing operations attributable to noncontrolling interests - - - - - - Net income (loss) attributable to AIG $ (1,259) $ (82) $ 1,306 $ (822) $ (402) $ (1,259) Three Months Ended September 30, 2017 Revenues: Equity in earnings of consolidated subsidiaries * $ (2,098) $ - $ 1,138 $ - $ 960 $ - Other income 225 - - 11,455 71 11,751 Total revenues (1,873) - 1,138 11,455 1,031 11,751 Expenses: Interest expense 236 - 12 44 (2) 290 (Gain) loss on extinguishment of debt 2 - - (1) - 1 Other expenses 177 - 1 14,154 (69) 14,263 Total expenses 415 - 13 14,197 (71) 14,554 Income (loss) from continuing operations before income tax benefit (2,288) - 1,125 (2,742) 1,102 (2,803) Income tax benefit (549) - (4) (538) - (1,091) Income (loss) from continuing operations (1,739) - 1,129 (2,204) 1,102 (1,712) Loss from discontinued operations, net of income taxes - - - (1) - (1) Net income (loss) (1,739) - 1,129 (2,205) 1,102 (1,713) Less: Net income from continuing operations attributable to noncontrolling interests - - - 26 - 26 Net income (loss) attributable to AIG $ (1,739) $ - $ 1,129 $ (2,231) $ 1,102 $ (1,739) American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG Nine Months Ended September 30, 2018 Revenues: Equity in earnings of consolidated subsidiaries * $ 889 $ (93) $ 2,497 $ - $ (3,293) $ - Other income 750 23 1 34,103 (48) 34,829 Total revenues 1,639 (70) 2,498 34,103 (3,341) 34,829 Expenses: Interest expense 710 10 37 154 (9) 902 Loss on extinguishment of debt - - - 10 - 10 Other expenses 643 2 2 32,357 (39) 32,965 Total expenses 1,353 12 39 32,521 (48) 33,877 Income (loss) from continuing operations before income tax expense (benefit) 286 (82) 2,459 1,582 (3,293) 952 Income tax expense (benefit) (370) - - 661 - 291 Income (loss) from continuing operations 656 (82) 2,459 921 (3,293) 661 Loss from discontinued operations, net of income taxes (40) - - - - (40) Net income (loss) 616 (82) 2,459 921 (3,293) 621 Less: Net income from continuing operations attributable to noncontrolling interests - - - 5 - 5 Net income (loss) attributable to AIG $ 616 $ (82) $ 2,459 $ 916 $ (3,293) $ 616 Nine Months Ended September 30, 2017 Revenues: Equity in earnings of consolidated subsidiaries * $ 794 $ - $ 2,553 $ - $ (3,347) $ - Other income 653 - - 36,085 147 36,885 Total revenues 1,447 - 2,553 36,085 (3,200) 36,885 Expenses: Interest expense 719 - 37 129 (5) 880 (Gain) loss on extinguishment of debt 2 - - (6) - (4) Other expenses 693 - 2 34,865 (142) 35,418 Total expenses 1,414 - 39 34,988 (147) 36,294 Income (loss) from continuing operations before income tax expense (benefit) 33 - 2,514 1,097 (3,053) 591 Income tax expense (benefit) (544) - (12) 538 - (18) Income (loss) from continuing operations 577 - 2,526 559 (3,053) 609 Income (loss) from discontinued operations, net of income taxes (1) - - 8 - 7 Net income (loss) 576 - 2,526 567 (3,053) 616 Less: Net income from continuing operations attributable to noncontrolling interests - - - 40 - 40 Net income (loss) attributable to AIG $ 576 $ - $ 2,526 $ 527 $ (3,053) $ 576 * Eliminated in consolidation. Condensed Consolidating Statements of Comprehensive Income American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG Three Months Ended September 30, 2018 Net income (loss) $ (1,259) $ (82) $ 1,306 $ (822) $ (402) $ (1,259) Other comprehensive income (loss) (766) - (301) (1,436) 1,737 (766) Comprehensive income (loss) (2,025) (82) 1,005 (2,258) 1,335 (2,025) Total comprehensive income attributable to noncontrolling interests - - - - - - Comprehensive income (loss) attributable to AIG $ (2,025) $ (82) $ 1,005 $ (2,258) $ 1,335 $ (2,025) Three Months Ended September 30, 2017 Net income (loss) $ (1,739) $ - $ 1,129 $ (2,205) $ 1,102 $ (1,713) Other comprehensive income (loss) 977 - 1,274 (30,625) 29,351 977 Comprehensive income (loss) (762) - 2,403 (32,830) 30,453 (736) Total comprehensive income attributable to noncontrolling interests - - - 26 - 26 Comprehensive income (loss) attributable to AIG $ (762) $ - $ 2,403 $ (32,856) $ 30,453 $ (762) Nine Months Ended September 30, 2018 Net income (loss) $ 616 $ (82) $ 2,459 $ 921 $ (3,293) $ 621 Other comprehensive income (loss) (5,425) - 3,139 12,568 (15,707) (5,425) Comprehensive income (loss) (4,809) (82) 5,598 13,489 (19,000) (4,804) Total comprehensive income attributable to noncontrolling interests - - - 5 - 5 Comprehensive income (loss) attributable to AIG $ (4,809) $ (82) $ 5,598 $ 13,484 $ (19,000) $ (4,809) Nine Months Ended September 30, 2017 Net income (loss) $ 576 $ - $ 2,526 $ 567 $ (3,053) $ 616 Other comprehensive income (loss) 2,709 - 7,056 18,864 (25,920) 2,709 Comprehensive income (loss) 3,285 - 9,582 19,431 (28,973) 3,325 Total comprehensive income attributable to noncontrolling interests - - - 40 - 40 Comprehensive income (loss) attributable to AIG $ 3,285 $ - $ 9,582 $ 19,391 $ (28,973) $ 3,285 Condensed Consolidating Statements of Cash Flows American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG Nine Months Ended September 30, 2018 Net cash (used in) provided by operating activities $ 1,389 $ (40) $ 2,003 $ (433) $ (2,957) $ (38) Cash flows from investing activities: Sales of investments 4,641 - - 45,218 (3,326) 46,533 Sales of divested businesses, net - - - 10 - 10 Purchase of investments (1,680) - - (45,574) 3,326 (43,928) Loans to subsidiaries - net 878 - - (50) (828) - Contributions from (to) subsidiaries - net 22 - - - (22) - Acquisition of businesses, net of cash and restricted cash acquired (5,475) 112 - 311 - (5,052) Net change in short-term investments 1,267 - - 1,144 - 2,411 Other, net (55) - - (836) - (891) Net cash (used in) provided by investing activities (402) 112 - 223 (850) (917) Cash flows from financing activities: Issuance of long-term debt 2,470 - - 1,589 - 4,059 Repayments of long-term debt (1,493) - - (1,295) - (2,788) Purchase of common stock (994) - - - - (994) Intercompany loans - net 50 - - (878) 828 - Cash dividends paid (858) (6) (2,020) (931) 2,957 (858) Other, net (165) - - 2,057 22 1,914 Net cash (used in) provided by financing activities (990) (6) (2,020) 542 3,807 1,333 Effect of exchange rate changes on cash and restricted cash - - - 8 - 8 Change in cash and restricted cash (3) 66 (17) 340 - 386 Cash and restricted cash at beginning of year 8 - 20 2,709 - 2,737 Cash and restricted cash at end of period $ 5 $ 66 $ 3 $ 3,049 $ - $ 3,123 Nine Months Ended September 30, 2017 Net cash (used in) provided by operating activities $ 793 $ - $ 1,105 $ (8,440) $ (2,320) $ (8,862) Cash flows from investing activities: Sales of investments 5,428 - - 58,592 (3,508) 60,512 Sales of divested businesses, net 40 - - 565 - 605 Purchase of investments (1,781) - - (49,675) 3,508 (47,948) Loans to subsidiaries - net 38 - - 5 (43) - Contributions from (to) subsidiaries - net 990 - - - (990) - Net change in short-term investments 1,926 - - 889 - 2,815 Other, net (17) - (4) (1,488) - (1,509) Net cash (used in) provided by investing activities 6,624 - (4) 8,888 (1,033) 14,475 Cash flows from financing activities: Issuance of long-term debt 1,108 - - 1,297 - 2,405 Repayments of long-term debt (1,354) - - (1,397) - (2,751) Purchase of common stock (6,275) - - - - (6,275) Intercompany loans - net (5) - - (38) 43 - Cash dividends paid (884) - (1,133) (1,187) 2,320 (884) Other, net (5) - - 1,394 990 2,379 Net cash (used in) provided by financing activities (7,415) - (1,133) 69 3,353 (5,126) Effect of exchange rate changes on cash and restricted cash - - - (22) - (22) Change in cash and restricted cash 2 - (32) 495 - 465 Cash and restricted cash at beginning of year 3 - 34 2,070 - 2,107 Change in cash of businesses held for sale - - - 133 - 133 Cash and restricted cash at end of period $ 5 $ - $ 2 $ 2,698 $ - $ 2,705 Supplementary Disclosure of Co ndensed Consolidating Cash Flow Information American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG September 30, 2018 Cash $ 3 $ 66 $ 3 $ 2,669 $ - $ 2,741 Restricted cash included in Short-term investments 1 - - 27 - 28 Restricted cash included in Other assets 1 - - 353 - 354 Total cash and restricted cash shown in the Condensed Consolidating Statements of Cash Flows $ 5 $ 66 $ 3 $ 3,049 $ - $ 3,123 Cash (paid) received during the 2018 period for: Interest: Third party $ (706) $ 14 $ (47) $ (279) $ - $ (1,018) Intercompany (1) - (1) 2 - - Taxes: Income tax authorities $ (23) $ - $ - $ (44) $ - $ (67) Intercompany 1,084 - - (1,084) - - September 30, 2017 Cash $ 3 $ - $ 2 $ 2,428 $ - $ 2,433 Restricted cash included in Short-term investments 1 - - 52 - 53 Restricted cash included in Other assets 1 - - 218 - 219 Total cash and restricted cash shown in the Condensed Consolidating Statements of Cash Flows $ 5 $ - $ 2 $ 2,698 $ - $ 2,705 Cash (paid) received during the 2017 period for: Interest: Third party $ (791) $ - $ (47) $ (208) $ - $ (1,046) Intercompany (1) - (1) 2 - - Taxes: Income tax authorities $ (324) $ - $ - $ (166) $ - $ (490) Intercompany 1,852 - - (1,852) - - American International Group, Inc. ( As Guarantor ) Supplementary Disclosure o f Non-Cash Activities: Nine Months Ended September 30, (in millions) 2018 2017 Intercompany non-cash financing and investing activities: Capital contributions $ 2,339 $ 198 Dividends received in the form of securities 745 735 Return of capital 2,706 26

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2018
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	17 . Subsequent Events BREXIT On October 25, 2018 we announced that our European subsidiary, AIG Europe Limited has received approval from the High Court of England & Wales to transfer its business in to two new entities: American International Group UK Limited and AIG Europe SA in preparation for the UK’s exit from the European Union. This is the final UK approval needed to complete the restructuring of our European operations and ensure our readiness for Brexit. Dividends Declared On October 31, 2018, our Board of Directors declared a cash dividend on AIG Common Stock of $ 0.32 per share, payable on December 26, 2018 to shareholders of record on December 12, 2018.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 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, incl uding 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 me asurements 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 t he assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 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 correspondi ng 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, January 1, 2019, using the additional (and optional) transition method and recognizing a cumulative-effect adjustment to the opening balance of retained earnings, at the adoption date. 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 expect 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 Ins truments - Credit Losses In June 2016, the FASB issued an accounting standard that will change how entities account for credit losses for most financial assets, trade receivables and reinsurance receivables. The standard will replace the existing incurred loss impairment model 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, re insurance receivables and certain off-balance sheet credit exposures. Additionally, 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 reductions in the amortized cost of the securities. The standard will also require additional information to be disclosed in the footnotes. The standard is effective on January 1, 20 20, 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 flo ws 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 allocation, to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value not to exceed the total amount of goodwill allocated to that reporting unit. An entity should also consider income tax effects from tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable . The standard is effective on January 1, 2020, with early adoption permitted. 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 Am ortization on Purchased Callable Debt Securities In March 2017, the FASB issued 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 cal l date. The standard does not require an accounting change for securities held 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 accountin g for both financial and commodity risks. The provisions of the amendment are 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 statement s and the footnote, and simplify the application of hedge accounting treatment. The standard is effective on January 1, 2019, with early adoption permitted. We will adopt the s tandard on its effective date. The standard’s impact is immaterial to our report ed consolidated financial condition, results of operations, cash flows and required disclosures. Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued an accounting standard update with the objective of making targeted improvements to the existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The changes to the measurement, recognition and disclosure as provided by the ne w accounting standard update are summarized below: Requires the review and if necessary update of future policy benefit assumptions at least annually for traditional and limited pay long duration contracts. Requires the discount rate assumption to be updated at the end of each reporting peri od using a upper medium grade ( low-credit risk) fixed income instrument yield that maximizes the use of observable market inputs and recognizes the impact of changes to discount rates in other comprehensive income. Simplifies the amortization of deferred acquisition costs (DAC) to a constant level basis over the expected term of the related contracts with adjustments for unexpected terminations, but no longer requires an impairment test. Requires the measurement of all market risk benefits associated with deposit (or account balance) contracts at fair value through the income statement with the exception of instrument-specific credit risk changes, which will be recognized in other comprehensive income. Increased dis closures of disaggregated roll-forwards of policy benefits, account balances, market risk benefits, separate account liabilities and information about significant inputs, judgments and methods used in measurement and changes thereto and effect of those cha nges. We plan to adopt the standard on its effective date, January 1, 2021. We are evaluating the method of adoption and impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures. T he adoption of this standard is expected to have a significant impact on our consolidated financial condition, results of operations, cash flows and required disclosures, as well as systems, processes and controls.
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
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 requires 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 opt ion accounting has been elected, changes in fair value due to instrument-specific credit risk are presented separately in other comprehensive income. The standard allows the election to record equity investments without readily determinable fair values at cost, less impairment, adjusted for subsequent observable price changes with changes in the carrying value of the equity investments recorded in earnings. The standard also updates certain fair value disclosure requirements for financial instruments ca rried 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 resulting 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 accounti ng 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 outflow s. 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 of op erations or required disclosures. Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issued an accounting standard that requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset othe r 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 materia l 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 are 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, results of op erations 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 derecognition 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 nonfinancial asset w hen 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 effective 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. Improving the P resentation 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 the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net periodic benefit costs are required to be separately presented in the income statement. The amendments also 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 benefit 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 operation s, 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 an 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 flows or require d 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 rate on the g ross 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 15 .

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2018
SEGMENT INFORMATION
Schedule of continuing operations by reportable segment	The following table presents AIG’s continuing operations by operating segment: Three Months Ended September 30, 2018 2017 Adjusted Adjusted Adjusted Pre-tax Adjusted Pre-tax (in millions) Revenues Income (Loss) Revenues Income (Loss) General Insurance North America $ 4,129 $ (160) $ 3,634 $ (2,193) International 3,853 (665) 3,867 (740) Total General Insurance 7,982 (825) 7,501 (2,933) Life and Retirement Individual Retirement 1,335 393 1,343 718 Group Retirement 718 242 702 249 Life Insurance 809 16 1,000 112 Institutional Markets 284 62 1,091 79 Total Life and Retirement 3,146 713 4,136 1,158 Other Operations 135 (417) 127 (366) Legacy Portfolio 814 84 1,013 286 AIG Consolidation and elimination (42) 29 (119) (1) Total AIG Consolidated adjusted revenues and adjusted pre-tax income 12,035 (416) 12,658 (1,856) Reconciling Items to revenues and pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits (5) (14) 26 26 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - 76 - 84 Other income (expense) - net (4) - (12) - Gain (Loss) on extinguishment of debt - (1) - (1) Net realized capital losses * (540) (524) (922) (922) Income (loss) from divested businesses - 2 - (13) Non-operating litigation reserves and settlements - (5) 1 - (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - (605) - 7 Net loss reserve discount benefit (charge) - 86 - (48) Pension expense related to a one-time lump sum payment to former employees - - - (49) Integration and transaction costs associated with acquired businesses - (91) - - Restructuring and other costs - (35) - (31) Revenues and Pre-tax income (loss) $ 11,486 $ (1,527) $ 11,751 $ (2,803) Nine Months Ended September 30, 2018 2017 Adjusted Adjusted Adjusted Pre-Tax Adjusted Pre-Tax (in millions) Revenues Income (Loss) Revenues Income (Loss) General Insurance North America $ 10,895 $ 567 $ 11,145 $ (644) International 11,758 (314) 11,315 (182) Total General Insurance 22,653 253 22,460 (826) Life and Retirement Individual Retirement 4,062 1,354 4,099 1,815 Group Retirement 2,209 774 2,116 758 Life Insurance 2,962 243 3,043 272 Institutional Markets 838 196 1,946 204 Total Life and Retirement 10,071 2,567 11,204 3,049 Other Operations 454 (1,133) 1,227 (1,039) Legacy Portfolio 2,431 363 3,235 1,059 AIG Consolidation and elimination (214) 28 (237) 75 Total AIG Consolidated adjusted revenues and adjusted pre-tax income 35,395 2,078 37,889 2,318 Reconciling Items to revenues and pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits (109) (127) 117 117 Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains - 46 - 195 Other income (expense) - net (29) - (32) - Gain (Loss) on extinguishment of debt - (10) - 4 Net realized capital losses * (430) (388) (1,106) (1,106) Income (loss) from divested businesses - 35 - (173) Non-operating litigation reserves and settlements 2 (30) 17 86 (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - (607) - (258) Net loss reserve discount benefit (charge) - 305 - (283) Pension expense related to a one-time lump sum payment to former employees - - - (50) Integration and transaction costs associated with acquired businesses - (91) - - Restructuring and other costs - (259) - (259) Revenues and Pre-tax income $ 34,829 $ 952 $ 36,885 $ 591 * 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.

BUSINESS COMBINATION (Tables)

BUSINESS COMBINATION (Tables)	9 Months Ended
	Sep. 30, 2018
BUSINESS COMBINATION
Identifiable Assets Acquired and Liabilities Assumed	(in millions) July 18, 2018 Identifiable net assets: Investments $ 6,613 Cash 330 Premiums and other receivables 2,130 Reinsurance assets 1,692 Value of business acquired* 298 Deferred income taxes 63 Other assets, including restricted cash of $93 1,008 Liability for unpaid claims and claims adjustment expense (4,138) Unearned premiums (2,083) Long-term debt (1,106) Other liabilities (913) Preference shares (416) Total identifiable net assets acquired 3,478 Cash consideration paid 5,475 Goodwill recognized from acquisition $ 1,997 * Reported in Deferred policy acquisition costs in the Condensed Consolidated Balance Sheet.
Pro Forma Income Statement Information	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017* 2018* 2017* Total revenues $ 11,486 $ 12,418 $ 36,028 $ 38,752 Net income (loss) (1,259) (1,958) 576 571 Net income (loss) attributable to AIG (1,259) (1,984) 571 531 Income (loss) per common share attributable to AIG: Basic: Net income (loss) attributable to AIG (1.41) (2.18) 0.63 0.57 Diluted: Net income (loss) attributable to AIG (1.41) (2.18) 0.62 0.55 * Pro forma adjustments were made to Validus external reporting results prior to the acquisition date for the deconsolidation of certain asset management entities consistent with AIG’s post acquisition accounting, which had no impact on Net income attributable to Validus.
Identified Intangible Assets Acquired	The following table presents details of the identified intangible assets acquired: Estimated Weighted (in millions, except years) Fair Value Average Useful Life Definite lived intangibles Value of distribution network acquired (a)(b) $ 444 15 years Value of business acquired (c) 298 2 years Indefinite lived intangibles (a) Syndicate capacity 193 Other 75 Total $ 1,010 (a) Reported in Other assets in the Condensed Consolidated Balance Sheet. (b) Amortization is reported in General operating and other expenses in the Condensed Consolidated Statement of Income (Loss) . (c) Reported in Deferred policy acquisition costs in the Condensed Consolidated Balance Sheet and Amortization of deferred policy acquisition costs in the Condensed Consolidated Statement of Income (Loss) .

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
FAIR VALUE MEASUREMENTS
Assets and liabilities measured at fair value on a recurring basis	September 30, 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 $ 9 $ 3,084 $ - $ - $ - $ 3,093 Obligations of states, municipalities and political subdivisions - 14,516 1,996 - - 16,512 Non-U.S. governments 19 15,196 4 - - 15,219 Corporate debt - 130,942 942 - - 131,884 RMBS - 20,365 14,861 - - 35,226 CMBS - 11,990 701 - - 12,691 CDO/ABS - 9,263 8,832 - - 18,095 Total bonds available for sale 28 205,356 27,336 - - 232,720 Other bond securities: U.S. government and government sponsored entities 96 2,538 - - - 2,634 Non-U.S. governments - 49 - - - 49 Corporate debt - 1,707 - - - 1,707 RMBS - 311 1,349 - - 1,660 CMBS - 328 73 - - 401 CDO/ABS - 511 4,458 - - 4,969 Total other bond securities 96 5,444 5,880 - - 11,420 Other equity securities (b) 1,400 18 25 - - 1,443 Mortgage and other loans receivable - - - - - - Other invested assets (c) - 603 398 - - 1,001 Derivative assets: Interest rate contracts - 2,505 - - - 2,505 Foreign exchange contracts - 927 - - - 927 Equity contracts 16 220 104 - - 340 Credit contracts - - 1 - - 1 Other contracts - - 15 - - 15 Counterparty netting and cash collateral - - - (1,874) (964) (2,838) Total derivative assets 16 3,652 120 (1,874) (964) 950 Short-term investments 2,513 1,120 - - - 3,633 Separate account assets 88,092 4,953 - - - 93,045 Total $ 92,145 $ 221,146 $ 33,759 $ (1,874) $ (964) $ 344,212 Liabilities: Policyholder contract deposits $ - $ - $ 3,376 $ - $ - $ 3,376 Derivative liabilities: Interest rate contracts 1 2,106 12 - - 2,119 Foreign exchange contracts - 1,082 5 - - 1,087 Equity contracts 2 2 1 - - 5 Credit contracts - 15 237 - - 252 Other contracts - - 3 - - 3 Counterparty netting and cash collateral - - - (1,874) (290) (2,164) Total derivative liabilities 3 3,205 258 (1,874) (290) 1,302 Long-term debt - 2,311 - - - 2,311 Other liabilities 165 24 - - - 189 Total $ 168 $ 5,540 $ 3,634 $ (1,874) $ (290) $ 7,178 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 (Financial Instruments Recognition and Measurement Standard), equity securities are no longer classified and accounted for as available for sale securities. (c) Excludes investments that are measured at fair value using the net asset value (NAV) per share (or its equ ivalent), which totaled $ 5.1 billion and $ 6.0 billion as of September 30, 2018 and December 31, 2017 , respectively.
Changes in Level 3 recurring fair value measurements (Assets)	Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Three Months Ended September 30, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,056 $ - $ (37) $ (46) $ 54 $ (31) $ - $ 1,996 $ - Non-U.S. governments - - (1) 1 4 - - 4 - Corporate debt 884 7 (10) (28) 133 (44) - 942 - RMBS 15,377 213 5 (725) - (16) 7 14,861 - CMBS 605 14 (14) 31 64 - 1 701 - CDO/ABS 6,856 15 (31) 320 1,508 - 164 8,832 - Total bonds available for sale 25,778 249 (88) (447) 1,763 (91) 172 27,336 - Other bond securities: Corporate debt 18 - - (18) - - - - (2) RMBS 1,338 18 - (57) 50 - - 1,349 (29) CMBS 71 (2) - - 4 - - 73 (2) CDO/ABS 4,641 76 - (267) - - 8 4,458 (6) Total other bond securities 6,068 92 - (342) 54 - 8 5,880 (39) Other equity securities (a) - 1 - 24 - - - 25 - Mortgage and other loans receivable - - - - - - - - - Other invested assets 399 - - (1) - - - 398 - Total $ 32,245 $ 342 $ (88) $ (766) $ 1,817 $ (91) $ 180 $ 33,639 $ (39) Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Liabilities: Policyholder contract deposits $ 3,534 $ (242) $ - $ 84 $ - $ - $ - $ 3,376 $ 179 Derivative liabilities, net: Interest rate contracts 14 (1) - (1) - - - 12 1 Foreign exchange contracts 5 2 - (2) - - - 5 (5) Equity contracts (79) (12) - (12) - - - (103) 10 Credit contracts 246 (9) - (1) - - - 236 10 Other contracts (10) (19) - 17 - - - (12) 14 Total derivative liabilities, net (b) 176 (39) - 1 - - - 138 30 Long-term debt (c) - - - - - - - - - Total $ 3,710 $ (281) $ - $ 85 $ - $ - $ - $ 3,514 $ 209 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Nine Months Ended September 30, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,404 $ 1 $ (152) $ (144) $ 54 $ (167) $ - $ 1,996 $ - Non-U.S. governments 8 (5) 5 (3) 4 (5) - 4 - Corporate debt 1,173 (58) (7) (174) 701 (693) - 942 - RMBS 16,136 632 5 (1,877) 8 (50) 7 14,861 - CMBS 624 18 (35) 1 111 (19) 1 701 - CDO/ABS 8,651 31 (116) (334) 1,508 (1,072) 164 8,832 - Total bonds available for sale 28,996 619 (300) (2,531) 2,386 (2,006) 172 27,336 - Other bond securities: Corporate debt 18 - - (18) - - - - (1) RMBS 1,464 73 - (238) 50 - - 1,349 124 CMBS 74 (5) - (1) 5 - - 73 2 CDO/ABS 4,956 283 - (780) - (9) 8 4,458 201 Total other bond securities 6,512 351 - (1,037) 55 (9) 8 5,880 326 Other equity securities (a) - (2) - 27 - - - 25 - Mortgage and other loans receivable 5 - - (5) - - - - - Other invested assets 250 52 1 95 - - - 398 56 Total $ 35,763 $ 1,020 $ (299) $ (3,451) $ 2,441 $ (2,015) $ 180 $ 33,639 $ 382 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Liabilities: Policyholder contract deposits $ 4,136 $ (986) $ - $ 226 $ - $ - $ - $ 3,376 $ 1,081 Derivative liabilities, net: Interest rate contracts 22 (5) - (5) - - - 12 5 Foreign exchange contracts - (2) - 7 - - - 5 (5) Equity contracts (82) (3) - (20) - 2 - (103) 2 Credit contracts 262 (23) - (3) - - - 236 23 Other contracts (15) (51) - 54 - - - (12) 42 Total derivative liabilities, net (b) 187 (84) - 33 - 2 - 138 67 Long-term debt (c) - - - - - - - - - Total $ 4,323 $ (1,070) $ - $ 259 $ - $ 2 $ - $ 3,514 $ 1,148 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Three Months Ended September 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,285 $ 2 $ 38 $ 52 $ - $ (6) $ 2,371 $ - Non-U.S. governments 12 (5) 4 - - - 11 - Corporate debt 932 5 (2) (53) 449 (121) 1,210 - RMBS 16,393 253 495 (731) 11 (7) 16,414 - CMBS 735 2 5 (77) - - 665 - CDO/ABS 8,605 8 (12) (166) - (21) 8,414 - Total bonds available for sale 28,962 265 528 (975) 460 (155) 29,085 - Other bond securities: Corporate debt 28 1 - - - (11) 18 - RMBS 1,510 63 - (130) - - 1,443 49 CMBS 66 2 - 42 - (45) 65 3 CDO/ABS 5,234 111 - (505) - (6) 4,834 (34) Total other bond securities 6,838 177 - (593) - (62) 6,360 18 Equity securities available for sale: Common stock 7 - - (2) - - 5 - Total equity securities available for sale 7 - - (2) - - 5 - Mortgage and other loans receivable 5 - - - - - 5 - Other invested assets 225 - (2) 36 - - 259 (3) Total $ 36,037 $ 442 $ 526 $ (1,534) $ 460 $ (217) $ 35,714 $ 15 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Liabilities: Policyholder contract deposits $ 3,518 $ 299 $ - $ 157 $ - $ - $ 3,974 $ (220) Derivative liabilities, net: Interest rate contracts 30 (2) - (2) - - 26 1 Foreign exchange contracts 7 - - (4) - - 3 - Equity contracts (63) (11) - 5 - - (69) 8 Credit contracts 293 (19) - (1) - - 273 19 Other contracts (16) (19) - 19 - - (16) 12 Total derivative liabilities, net (b) 251 (51) - 17 - - 217 40 Long-term debt (c) 61 2 - (60) - - 3 4 Total $ 3,830 $ 250 $ - $ 114 $ - $ - $ 4,194 $ (176) Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Nine Months Ended September 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,040 $ 3 $ 123 $ 221 $ 8 $ (24) $ 2,371 $ - Non-U.S. governments 17 (5) 5 (6) - - 11 - Corporate debt 1,133 6 (2) (219) 655 (363) 1,210 - RMBS 16,906 806 992 (2,270) 19 (39) 16,414 - CMBS 2,040 25 12 (699) - (713) 665 - CDO/ABS 7,835 (14) 168 478 - (53) 8,414 - Total bonds available for sale 29,971 821 1,298 (2,495) 682 (1,192) 29,085 - Other bond securities: Corporate debt 17 2 - 10 - (11) 18 1 RMBS 1,605 184 - (313) - (33) 1,443 116 CMBS 155 4 - 24 - (118) 65 6 CDO/ABS 5,703 459 - (1,322) - (6) 4,834 91 Total other bond securities 7,480 649 - (1,601) - (168) 6,360 214 Equity securities available for sale: Common stock - - - 6 - (1) 5 - Total equity securities available for sale - - - 6 - (1) 5 - Mortgage and other loans receivable 11 - - (6) - - 5 - Other invested assets 204 3 (5) 58 - (1) 259 1 Total $ 37,666 $ 1,473 $ 1,293 $ (4,038) $ 682 $ (1,362) $ 35,714 $ 215 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Liabilities: Policyholder contract deposits $ 3,033 $ 594 $ - $ 347 $ - $ - $ 3,974 $ (405) Derivative liabilities, net: Interest rate contracts 38 (3) - (9) - - 26 3 Foreign exchange contracts 11 1 - (9) - - 3 (1) Equity contracts (58) (26) - 15 - - (69) 22 Credit contracts 329 (55) - (1) - - 273 53 Other contracts (11) (58) - 56 (3) - (16) 57 Total derivative liabilities, net (b) 309 (141) - 52 (3) - 217 134 Long-term debt (c) 71 16 - (84) - - 3 - Total $ 3,413 $ 469 $ - $ 315 $ (3) $ - $ 4,194 $ (271) (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 Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Three Months Ended September 30, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,056 $ - $ (37) $ (46) $ 54 $ (31) $ - $ 1,996 $ - Non-U.S. governments - - (1) 1 4 - - 4 - Corporate debt 884 7 (10) (28) 133 (44) - 942 - RMBS 15,377 213 5 (725) - (16) 7 14,861 - CMBS 605 14 (14) 31 64 - 1 701 - CDO/ABS 6,856 15 (31) 320 1,508 - 164 8,832 - Total bonds available for sale 25,778 249 (88) (447) 1,763 (91) 172 27,336 - Other bond securities: Corporate debt 18 - - (18) - - - - (2) RMBS 1,338 18 - (57) 50 - - 1,349 (29) CMBS 71 (2) - - 4 - - 73 (2) CDO/ABS 4,641 76 - (267) - - 8 4,458 (6) Total other bond securities 6,068 92 - (342) 54 - 8 5,880 (39) Other equity securities (a) - 1 - 24 - - - 25 - Mortgage and other loans receivable - - - - - - - - - Other invested assets 399 - - (1) - - - 398 - Total $ 32,245 $ 342 $ (88) $ (766) $ 1,817 $ (91) $ 180 $ 33,639 $ (39) Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Liabilities: Policyholder contract deposits $ 3,534 $ (242) $ - $ 84 $ - $ - $ - $ 3,376 $ 179 Derivative liabilities, net: Interest rate contracts 14 (1) - (1) - - - 12 1 Foreign exchange contracts 5 2 - (2) - - - 5 (5) Equity contracts (79) (12) - (12) - - - (103) 10 Credit contracts 246 (9) - (1) - - - 236 10 Other contracts (10) (19) - 17 - - - (12) 14 Total derivative liabilities, net (b) 176 (39) - 1 - - - 138 30 Long-term debt (c) - - - - - - - - - Total $ 3,710 $ (281) $ - $ 85 $ - $ - $ - $ 3,514 $ 209 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Nine Months Ended September 30, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,404 $ 1 $ (152) $ (144) $ 54 $ (167) $ - $ 1,996 $ - Non-U.S. governments 8 (5) 5 (3) 4 (5) - 4 - Corporate debt 1,173 (58) (7) (174) 701 (693) - 942 - RMBS 16,136 632 5 (1,877) 8 (50) 7 14,861 - CMBS 624 18 (35) 1 111 (19) 1 701 - CDO/ABS 8,651 31 (116) (334) 1,508 (1,072) 164 8,832 - Total bonds available for sale 28,996 619 (300) (2,531) 2,386 (2,006) 172 27,336 - Other bond securities: Corporate debt 18 - - (18) - - - - (1) RMBS 1,464 73 - (238) 50 - - 1,349 124 CMBS 74 (5) - (1) 5 - - 73 2 CDO/ABS 4,956 283 - (780) - (9) 8 4,458 201 Total other bond securities 6,512 351 - (1,037) 55 (9) 8 5,880 326 Other equity securities (a) - (2) - 27 - - - 25 - Mortgage and other loans receivable 5 - - (5) - - - - - Other invested assets 250 52 1 95 - - - 398 56 Total $ 35,763 $ 1,020 $ (299) $ (3,451) $ 2,441 $ (2,015) $ 180 $ 33,639 $ 382 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out Acquisition of Period at End of Period Liabilities: Policyholder contract deposits $ 4,136 $ (986) $ - $ 226 $ - $ - $ - $ 3,376 $ 1,081 Derivative liabilities, net: Interest rate contracts 22 (5) - (5) - - - 12 5 Foreign exchange contracts - (2) - 7 - - - 5 (5) Equity contracts (82) (3) - (20) - 2 - (103) 2 Credit contracts 262 (23) - (3) - - - 236 23 Other contracts (15) (51) - 54 - - - (12) 42 Total derivative liabilities, net (b) 187 (84) - 33 - 2 - 138 67 Long-term debt (c) - - - - - - - - - Total $ 4,323 $ (1,070) $ - $ 259 $ - $ 2 $ - $ 3,514 $ 1,148 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Three Months Ended September 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,285 $ 2 $ 38 $ 52 $ - $ (6) $ 2,371 $ - Non-U.S. governments 12 (5) 4 - - - 11 - Corporate debt 932 5 (2) (53) 449 (121) 1,210 - RMBS 16,393 253 495 (731) 11 (7) 16,414 - CMBS 735 2 5 (77) - - 665 - CDO/ABS 8,605 8 (12) (166) - (21) 8,414 - Total bonds available for sale 28,962 265 528 (975) 460 (155) 29,085 - Other bond securities: Corporate debt 28 1 - - - (11) 18 - RMBS 1,510 63 - (130) - - 1,443 49 CMBS 66 2 - 42 - (45) 65 3 CDO/ABS 5,234 111 - (505) - (6) 4,834 (34) Total other bond securities 6,838 177 - (593) - (62) 6,360 18 Equity securities available for sale: Common stock 7 - - (2) - - 5 - Total equity securities available for sale 7 - - (2) - - 5 - Mortgage and other loans receivable 5 - - - - - 5 - Other invested assets 225 - (2) 36 - - 259 (3) Total $ 36,037 $ 442 $ 526 $ (1,534) $ 460 $ (217) $ 35,714 $ 15 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Liabilities: Policyholder contract deposits $ 3,518 $ 299 $ - $ 157 $ - $ - $ 3,974 $ (220) Derivative liabilities, net: Interest rate contracts 30 (2) - (2) - - 26 1 Foreign exchange contracts 7 - - (4) - - 3 - Equity contracts (63) (11) - 5 - - (69) 8 Credit contracts 293 (19) - (1) - - 273 19 Other contracts (16) (19) - 19 - - (16) 12 Total derivative liabilities, net (b) 251 (51) - 17 - - 217 40 Long-term debt (c) 61 2 - (60) - - 3 4 Total $ 3,830 $ 250 $ - $ 114 $ - $ - $ 4,194 $ (176) Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value Gains (Losses) Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Nine Months Ended September 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,040 $ 3 $ 123 $ 221 $ 8 $ (24) $ 2,371 $ - Non-U.S. governments 17 (5) 5 (6) - - 11 - Corporate debt 1,133 6 (2) (219) 655 (363) 1,210 - RMBS 16,906 806 992 (2,270) 19 (39) 16,414 - CMBS 2,040 25 12 (699) - (713) 665 - CDO/ABS 7,835 (14) 168 478 - (53) 8,414 - Total bonds available for sale 29,971 821 1,298 (2,495) 682 (1,192) 29,085 - Other bond securities: Corporate debt 17 2 - 10 - (11) 18 1 RMBS 1,605 184 - (313) - (33) 1,443 116 CMBS 155 4 - 24 - (118) 65 6 CDO/ABS 5,703 459 - (1,322) - (6) 4,834 91 Total other bond securities 7,480 649 - (1,601) - (168) 6,360 214 Equity securities available for sale: Common stock - - - 6 - (1) 5 - Total equity securities available for sale - - - 6 - (1) 5 - Mortgage and other loans receivable 11 - - (6) - - 5 - Other invested assets 204 3 (5) 58 - (1) 259 1 Total $ 37,666 $ 1,473 $ 1,293 $ (4,038) $ 682 $ (1,362) $ 35,714 $ 215 Net Changes in Realized and Unrealized Gains Unrealized Purchases, (Losses) Included Fair Value (Gains) Losses Other Sales, Gross Gross Fair Value in Income on Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held (in millions) of Period in Income Income (Loss) Settlements, Net In Out of Period at End of Period Liabilities: Policyholder contract deposits $ 3,033 $ 594 $ - $ 347 $ - $ - $ 3,974 $ (405) Derivative liabilities, net: Interest rate contracts 38 (3) - (9) - - 26 3 Foreign exchange contracts 11 1 - (9) - - 3 (1) Equity contracts (58) (26) - 15 - - (69) 22 Credit contracts 329 (55) - (1) - - 273 53 Other contracts (11) (58) - 56 (3) - (16) 57 Total derivative liabilities, net (b) 309 (141) - 52 (3) - 217 134 Long-term debt (c) 71 16 - (84) - - 3 - Total $ 3,413 $ 469 $ - $ 315 $ (3) $ - $ 4,194 $ (271) (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 September 30, 2018 Bonds available for sale $ 249 $ - $ - $ 249 Other bond securities 35 1 56 92 Other equity securities 1 - - 1 Other invested assets - - - - Nine Months Ended September 30, 2018 Bonds available for sale $ 731 $ (112) $ - $ 619 Other bond securities 92 (3) 262 351 Other equity securities (2) - - (2) Other invested assets 57 - (5) 52 Three Months Ended September 30, 2017 Bonds available for sale $ 257 $ 8 $ - $ 265 Other bond securities 87 (2) 92 177 Other invested assets 2 1 (3) - Nine Months Ended September 30, 2017 Bonds available for sale $ 849 $ (28) $ - $ 821 Other bond securities 259 - 390 649 Other invested assets 5 (1) (1) 3 Net Net Realized Investment Capital Other (in millions) Income (Gains) Losses Income Total Three Months Ended September 30, 2018 Policyholder contract deposits $ - $ (242) $ - $ (242) Derivative liabilities, net - (1) (38) (39) Long-term debt - - - - Nine Months Ended September 30, 2018 Policyholder contract deposits $ - $ (986) $ - $ (986) Derivative liabilities, net - (3) (81) (84) Long-term debt - - - - Three Months Ended September 30, 2017 Policyholder contract deposits $ - $ 299 $ - $ 299 Derivative liabilities, net - (5) (46) (51) Long-term debt - - 2 2 Nine Months Ended September 30, 2017 Policyholder contract deposits $ - $ 594 $ - $ 594 Derivative liabilities, net - (13) (128) (141) Long-term debt - - 16 16
Gross components of purchases, sales, issues and settlements, net	Issuances Purchases, Sales, and Issuances and (in millions) Purchases Sales Settlements (a) Settlements, Net (a) Three Months Ended September 30, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ - $ (8) $ (38) $ (46) Non-U.S. governments - - 1 1 Corporate debt 25 - (53) (28) RMBS 123 (2) (846) (725) CMBS 58 (2) (25) 31 CDO/ABS 394 (49) (25) 320 Total bonds available for sale 600 (61) (986) (447) Other bond securities: Corporate debt - - (18) (18) RMBS - - (57) (57) CMBS - - - - CDO/ABS - - (267) (267) Total other bond securities - - (342) (342) Other equity securities 24 - - 24 Other invested assets - - (1) (1) Total assets $ 624 $ (61) $ (1,329) $ (766) Liabilities: Policyholder contract deposits $ - $ 148 $ (64) $ 84 Derivative liabilities, net (18) - 19 1 Long-term debt (b) - - - - Total liabilities $ (18) $ 148 $ (45) $ 85 Three Months Ended September 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 56 $ - $ (4) $ 52 Non-U.S. governments 7 - (7) - Corporate debt 6 (5) (54) (53) RMBS 194 (16) (909) (731) CMBS - (17) (60) (77) CDO/ABS 402 (136) (432) (166) Total bonds available for sale 665 (174) (1,466) (975) Other bond securities: Corporate debt - - - - RMBS - (51) (79) (130) CMBS 42 - - 42 CDO/ABS - (57) (448) (505) Total other bond securities 42 (108) (527) (593) Equity securities available for sale 4 - (6) (2) Other equity securities - - - - Mortgage and other loans receivable - - - - Other invested assets 46 (9) (1) 36 Total assets $ 757 $ (291) $ (2,000) $ (1,534) Liabilities: Policyholder contract deposits $ - $ 79 $ 78 $ 157 Derivative liabilities, net - - 17 17 Long-term debt (b) - - (60) (60) Total liabilities $ - $ 79 $ 35 $ 114 Issuances Purchases, Sales, and Issuances and (in millions) Purchases Sales Settlements (a) Settlements, Net (a) Nine Months Ended September 30, 2018 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 24 $ (8) $ (160) $ (144) Non-U.S. governments 2 - (5) (3) Corporate debt 280 (216) (238) (174) RMBS 630 (12) (2,495) (1,877) CMBS 70 (2) (67) 1 CDO/ABS 1,364 (962) (736) (334) Total bonds available for sale 2,370 (1,200) (3,701) (2,531) Other bond securities: Corporate debt - - (18) (18) RMBS 1 (34) (205) (238) CMBS - - (1) (1) CDO/ABS - (4) (776) (780) Total other bond securities 1 (38) (1,000) (1,037) Other equity securities 27 - - 27 Mortgage and other loans receivable - (5) - (5) Other invested assets 153 (29) (29) 95 Total assets $ 2,551 $ (1,272) $ (4,730) $ (3,451) Liabilities: Policyholder contract deposits $ - $ 391 $ (165) $ 226 Derivative liabilities, net (37) - 70 33 Long-term debt (b) - - - - Total liabilities $ (37) $ 391 $ (95) $ 259 Nine Months Ended September 30, 2017 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 279 $ (16) $ (42) $ 221 Non-U.S. governments 7 (1) (12) (6) Corporate debt 36 (59) (196) (219) RMBS 834 (260) (2,844) (2,270) CMBS 39 (128) (610) (699) CDO/ABS 1,609 (136) (995) 478 Total bonds available for sale 2,804 (600) (4,699) (2,495) Other bond securities: Corporate debt 11 - (1) 10 RMBS 112 (218) (207) (313) CMBS 42 (11) (7) 24 CDO/ABS - (65) (1,257) (1,322) Total other bond securities 165 (294) (1,472) (1,601) Equity securities available for sale 12 - (6) 6 Other equity securities - - - - Mortgage and other loans receivable - (6) - (6) Other invested assets 89 (11) (20) 58 Total assets $ 3,070 $ (911) $ (6,197) $ (4,038) Liabilities: Policyholder contract deposits $ - $ 231 $ 116 $ 347 Derivative liabilities, net - - 52 52 Long-term debt (b) - - (84) (84) Total liabilities $ - $ 231 $ 84 $ 315 (a) There were no issuances during the three - and nine -month period s ended September 30, 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 September 30, Valuation Range (in millions) 2018 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,439 Discounted cash flow Yield 4.04% - 4.81% (4.42%) Corporate debt 727 Discounted cash flow Yield 3.55% - 15.26% (9.40%) RMBS (a) 14,257 Discounted cash flow Constant prepayment rate 4.51% - 13.02% (8.76%) Loss severity 39.83% - 73.69% (56.76%) Constant default rate 2.69% - 7.58% (5.14%) Yield 3.17% - 5.38% (4.28%) CDO/ABS (a) 4,792 Discounted cash flow Yield 4.09% - 5.38% (4.74%) CMBS 461 Discounted cash flow Yield 3.09% - 7.20% (5.15%) Liabilities: Embedded derivatives within Policyholder contract deposits: Guaranteed minimum withdrawal benefits (GMWB) 1,046 Discounted cash flow Equity volatility 6.15% - 48.35% Base lapse rate 0.16% - 12.60% Dynamic lapse multiplier 20.00% - 180.00% Mortality multiplier (c) 40.00% - 153.00% Utilization 90.00% - 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 1,890 Discounted cash flow Lapse rate 0.50% - 40.00% Mortality multiplier (c) 42.00% - 162.00% Option Budget 1.00% - 3.00% Indexed Life 414 Discounted cash flow Base lapse rate 0.00% - 13.00% Mortality rate 0.00% - 100.00% 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	September 30, 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 $ 700 $ 646 $ 1,243 $ 706 Real Estate / Infrastructure Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities 185 84 210 187 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 102 113 134 73 Growth Equity Funds that make investments in established companies for the purpose of growing their businesses 306 35 215 73 Mezzanine Funds that make investments in the junior debt and equity securities of leveraged companies 220 107 171 135 Other Includes distressed funds that invest in securities of companies that are in default or under bankruptcy protection, as well as funds that have multi-strategy, and other strategies 624 324 155 53 Total private equity funds 2,137 1,309 2,128 1,227 Hedge funds: Event-driven Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations 888 - 1,128 - Long-short Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk 993 - 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 871 - 1,011 - Distressed Securities of companies that are in default, under bankruptcy protection or troubled 44 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 210 1 231 4 Total hedge funds 3,006 9 3,869 12 Total $ 5,143 $ 1,318 $ 5,997 $ 1,239 * Beginning in the third quarter of 2018 , Growth Equity and Mezzanine private equity fund ca tegories are shown separately. Prior periods were revised to conform to the current period presentation.
Gains or losses related to the eligible instruments for which AIG elected the fair value option	Gain (Loss) Three Months Ended September 30, Gain (Loss) Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 Assets: Bond and equity securities $ 122 $ 289 $ 274 $ 1,088 Alternative investments (a) 131 129 355 406 Other, including Short-term investments - 1 - 1 Liabilities: Long-term debt (b) 6 (18) 74 (66) Other liabilities - (1) - (2) Total gain $ 259 $ 400 $ 703 $ 1,427 (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	September 30, 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 * $ 2,311 $ 1,798 $ 513 $ 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 (a) Non-Recurring Basis Three Months Ended September 30, Nine Months Ended September 30, (in millions) Level 1 Level 2 Level 3 Total 2018 2017 2018 2017 September 30, 2018 Other investments $ - $ - $ 344 $ 344 $ - $ 26 $ 89 $ 76 Investments in life settlements - - - - - 273 - 360 Other assets - - 2 2 34 - 35 35 Total $ - $ - $ 346 $ 346 $ 34 $ 299 $ 124 $ 471 December 31, 2017 Other investments $ - $ - $ 55 $ 55 Investments in life settlements - - - - Other assets - - - - Total $ - $ - $ 55 $ 55 (a) Impairments in the nine-month period ended September 30, 2017 included $ 35 million related to Other assets of $ 179 million that were sold during the three-month period ended June 30, 2017.
Carrying values and estimated fair values of AIG's financial instruments	Estimated Fair Value Carrying (in millions) Level 1 Level 2 Level 3 Total Value September 30, 2018 Assets: Mortgage and other loans receivable $ - $ 108 $ 41,060 $ 41,168 $ 41,878 Other invested assets - 771 6 777 773 Short-term investments - 5,230 - 5,230 5,230 Cash 2,741 - - 2,741 2,741 Liabilities: Policyholder contract deposits associated with investment-type contracts - 349 122,487 122,836 119,493 Other liabilities - 1,465 1 1,466 1,466 Long-term debt - 24,147 8,221 32,368 32,283 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)	9 Months Ended
	Sep. 30, 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) September 30, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 3,069 $ 101 $ (77) $ 3,093 $ - Obligations of states, municipalities and political subdivisions 16,030 632 (150) 16,512 4 Non-U.S. governments 15,021 478 (280) 15,219 - Corporate debt 130,263 4,302 (2,681) 131,884 (11) Mortgage-backed, asset-backed and collateralized: RMBS 32,825 2,961 (560) 35,226 1,330 CMBS 12,821 182 (312) 12,691 28 CDO/ABS 18,018 189 (112) 18,095 17 Total mortgage-backed, asset-backed and collateralized 63,664 3,332 (984) 66,012 1,375 Total bonds available for sale (c) 228,047 8,845 (4,172) 232,720 1,368 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 (loss) . 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 September 30, 2018 and December 31, 2017 , bonds available for sale held by us that were below investment grade or not rated totaled $ 30.6 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 September 30, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 1,406 $ 61 $ 364 $ 16 $ 1,770 $ 77 Obligations of states, municipalities and political subdivisions 3,475 98 743 52 4,218 150 Non-U.S. governments 5,079 172 1,821 108 6,900 280 Corporate debt 52,590 1,947 9,929 734 62,519 2,681 RMBS 7,930 245 4,706 315 12,636 560 CMBS 5,062 146 2,626 166 7,688 312 CDO/ABS 7,483 79 1,061 33 8,544 112 Total bonds available for sale $ 83,025 $ 2,748 $ 21,250 $ 1,424 $ 104,275 $ 4,172 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 September 30, 2018 Due in one year or less $ 8,421 $ 8,559 $ 2,043 $ 2,032 Due after one year through five years 48,626 49,416 16,406 16,042 Due after five years through ten years 42,674 42,475 26,927 25,844 Due after ten years 64,662 66,258 33,219 31,489 Mortgage-backed, asset-backed and collateralized 63,664 66,012 29,852 28,868 Total $ 228,047 $ 232,720 $ 108,447 $ 104,275 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	Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Gross Gross Gross Gross Gross Gross Gross Gross Realized Realized Realized Realized Realized Realized Realized Realized (in millions) Gains Losses Gains Losses Gains Losses Gains Losses Fixed maturity securities $ 82 $ 71 $ 93 $ 39 $ 252 $ 244 $ 637 $ 263 Equity securities - - 6 2 16 - 106 20 Total $ 82 $ 71 $ 99 $ 41 $ 268 $ 244 $ 743 $ 283
The fair value of AIG's other securities	September 30, 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 $ 2,634 21 % $ 2,802 21 % Non-U.S. governments 49 - 57 1 Corporate debt 1,707 13 1,909 14 Mortgage-backed, asset-backed and collateralized : RMBS 1,660 13 1,885 14 CMBS 401 3 559 4 CDO/ABS and other collateralized * 4,969 39 5,560 42 Total mortgage-backed, asset-backed and collateralized 7,030 55 8,004 60 Total fixed maturity securities 11,420 89 12,772 96 Equity securities 1,443 11 589 4 Total $ 12,863 100 % $ 13,361 100 % * Includes $ 186 million and $ 251 million of U.S. g overnment agency-backed ABS at September 30, 2018 and December 31, 2017 , respectively.
Components of other invested assets	September 30, December 31, (in millions) 2018 2017 Alternative investments (a) (b) $ 9,655 $ 11,308 Investment real estate (c) 8,819 8,258 All other investments 1,265 1,256 Total $ 19,739 $ 20,822 (a) At September 30, 2018 , include d hedge funds of $ 4.6 billion, private equity funds of $ 4.6 billion, and affordable housing partnerships of $ 434 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) At September 30, 2018 , approximat ely 52 percent and 21 percent of our hedge fund portfolio is available for redemption in 2018 and 2019, respectively, the remaining 27 percent will be available for redemption be tween 2020 and 2027 . (c) Net of accumulated depreciation of $ 553 million and $ 515 million at September 30, 2018 and December 31, 2017 , respectively.
Components of net investment income	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Available for sale fixed maturity securities, including short-term investments $ 2,629 $ 2,552 $ 7,775 $ 7,826 Other fixed maturity securities 60 145 29 500 Equity securities (a) (21) 5 (50) 22 Interest on mortgage and other loans 455 414 1,352 1,206 Alternative investments (b) 329 355 837 1,174 Real estate 72 51 133 131 Other investments (13) 30 11 246 Total investment income 3,511 3,552 10,087 11,105 Investment expenses 115 136 365 390 Net investment income $ 3,396 $ 3,416 $ 9,722 $ 10,715 (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 generally reported on a one- quarter lag.
Components of net realized capital gains (losses)	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Sales of fixed maturity securities $ 11 $ 54 $ 8 $ 374 Sales of equity securities - 4 16 86 Other-than-temporary impairments: Severity - - - (2) Change in intent (3) (1) (52) (9) Foreign currency declines (1) (1) (13) (11) Issuer-specific credit events (30) (85) (92) (197) Adverse projected cash flows (1) (1) (1) (4) Provision for loan losses (23) (38) (73) (56) Foreign exchange transactions (21) 66 (155) 299 Variable annuity embedded derivatives, net of related hedges (185) (430) (2) (1,023) All other derivatives and hedge accounting (1) (136) 149 (217) Impairments on investments in life settlements - (273) - (360) Loss on sale of private equity funds (311) - (311) - Other 54 (81) 161 14 Net realized capital losses $ (511) $ (922) $ (365) $ (1,106)
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 Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ (920) $ 1,059 $ (8,858) $ 4,332 Equity securities (a) - 9 - 52 Other investments (31) 10 (59) (127) Total increase (decrease) in unrealized appreciation (depreciation) of investments (b) $ (951) $ 1,078 $ (8,917) $ 4,257 (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 Nine Months Ended September 30, 2018 September 30, 2018 Other Other Invested Invested (in millions) Equities Assets Total Equities Assets Total Net gains and losses recognized during the period on equity securities $ (13) $ 183 $ 170 $ (41) $ 497 $ 456 Less: Net gains and losses recognized during the period on equity securities sold during the period 28 18 46 34 45 79 Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ (41) $ 165 $ 124 $ (75) $ 452 $ 377
Credit impairments recognized in earnings for available for sale fixed maturity securities	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Balance, beginning of period $ 188 $ 762 $ 526 $ 1,098 Increases due to: Credit impairments on new securities subject to impairment losses 15 58 32 116 Additional credit impairments on previously impaired securities 16 12 61 49 Reductions due to: Credit impaired securities fully disposed for which there was no prior intent or requirement to sell (12) (44) (143) (99) Accretion on securities previously impaired due to credit * (164) (147) (433) (523) Balance, end of period $ 43 $ 641 $ 43 $ 641 * 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) $ 36,640 Cash flows expected to be collected * 30,077 Recorded investment in acquired securities 20,294 * Represents undiscounted expected cash flows, including both principal and interes t .
Schedule of Purchased Credit Impaired (PCI) Securities, at reporting date	(in millions) September 30, 2018 December 31, 2017 Outstanding principal balance $ 13,060 $ 14,718 Amortized cost 9,087 10,492 Fair value 10,941 12,293
Activity for accretable yield on Purchased Credit Impaired (PCI) Securities	The following table presents activity for the accretable yield on PCI securities: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Balance, beginning of period $ 7,461 $ 7,465 $ 7,501 $ 7,498 Newly purchased PCI securities 5 16 32 117 Disposals - - - (18) Accretion (176) (193) (553) (609) Effect of changes in interest rate indices 15 (74) 189 (188) Net reclassification from (to) non-accretable difference, including effects of prepayments 93 172 229 586 Balance, end of period $ 7,398 $ 7,386 $ 7,398 $ 7,386
Schedule of fair value of securities pledged to counterparties under secured financing transactions	(in millions) September 30, 2018 December 31, 2017 Fixed maturity securities available for sale $ 1,247 $ 2,911 Other bond securities, at fair value $ 136 $ 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 September 30, 2018 Bonds available for sale: Non-U.S. governments $ - $ 79 $ - $ - $ - $ 79 Corporate debt - 110 1 - - 111 Other bond securities: U.S. government and government sponsored entities 24 - - - - 24 Non-U.S. governments - 3 - - - 3 Corporate debt - 55 54 - - 109 Total $ 24 $ 247 $ 55 $ - $ - $ 326 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 September 30, 2018 Bonds available for sale: Non-U.S. governments $ - $ - $ 82 $ 22 $ - $ 104 Corporate debt - 378 467 108 - 953 Other bond securities: Non-U.S. governments - - - - - - Corporate debt - - - - - - Total $ - $ 378 $ 549 $ 130 $ - $ 1,057 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) September 30, 2018 December 31, 2017 Securities collateral pledged to us $ 1,324 $ 2,227 Amount sold or repledged by us $ 164 $ 46

LENDING ACTIVITIES (Tables)

LENDING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2018
LENDING ACTIVITIES
Composition of Mortgages and other loans receivable	September 30, December 31, (in millions) 2018 2017 Commercial mortgages * $ 32,082 $ 28,596 Residential mortgages 6,530 5,398 Life insurance policy loans 2,178 2,295 Commercial loans, other loans and notes receivable 1,467 1,056 Total mortgage and other loans receivable 42,257 37,345 Allowance for credit losses (379) (322) Mortgage and other loans receivable, net $ 41,878 $ 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 September 30, 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 September 30, 2018 Loan-to-Value Ratios (b) Less than 65% $ 17,986 $ 2,508 $ 239 $ 20,733 65% to 75% 9,115 302 258 9,675 76% to 80% 831 8 15 854 Greater than 80% 572 106 142 820 Total commercial mortgages $ 28,504 $ 2,924 $ 654 $ 32,082 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 1.9 X and 2.1 X at September 30, 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 58 percent and 57 percent at September 30, 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 $ September 30, 2018 Credit Quality Performance Indicator: In good standing 763 $ 10,393 $ 9,257 $ 5,333 $ 3,002 $ 2,531 $ 1,422 $ 31,938 100 % Restructured (a) 4 - 113 - 15 16 - 144 - 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 767 $ 10,393 $ 9,370 $ 5,333 $ 3,017 $ 2,547 $ 1,422 $ 32,082 100 % Allowance for credit losses: Specific $ - $ 2 $ - $ - $ 1 $ - $ 3 - % General 106 96 46 12 19 14 293 1 Total allowance for credit losses $ 106 $ 98 $ 46 $ 12 $ 20 $ 14 $ 296 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 Nine Months Ended September 30, 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 (17) - (17) (5) (2) (7) Recoveries of loans previously charged off - - - - - - Net charge-offs (17) - (17) (5) (2) (7) Provision for loan losses 66 8 74 75 (20) 55 Other - - - - - - Allowance, end of period $ 296 * $ 83 $ 379 $ 264 * $ 81 $ 345 * Of the total allowance , $ 3 million and $ 35 million relate to individually assessed credit losses on $ 25 million and $ 342 million of commercial mortgages at September 30, 2018 and 2017 , respectively.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2018 Assets: Bonds available for sale $ - $ 8,130 $ - $ - $ 8,130 Other bond securities - 4,010 - 2 4,012 Mortgage and other loans receivable - 3,424 - - 3,424 Other invested assets 1,696 - 3,231 25 4,952 Other (a) 259 1,448 428 82 2,217 Total assets (b) $ 1,955 $ 17,012 $ 3,659 $ 109 $ 22,735 Liabilities: Long-term debt $ 785 $ 2,858 $ 1,922 $ 5 $ 5,570 Other (c) 138 126 172 23 459 Total liabilities $ 923 $ 2,984 $ 2,094 $ 28 $ 6,029 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 September 30, 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 September 30, 2018 and December 31, 2017 . (d) At September 30, 2018 and December 31, 2017 , off-balance sheet exposure primarily consisting of commitments to real estate and investme nt entities was $ 227 million and $ 86 m illion, respectively. (e) At September 30, 2018 and December 31, 2017 , $ 16.1 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 September 30, 2018 Real estate and investment entities (a) $ 322,117 $ 7,902 $ 1,994 $ 9,896 Affordable housing partnerships 4,116 606 - 606 Other 2,705 260 1,222 (c) 1,482 Total $ 328,938 $ 8,768 $ 3,216 $ 11,984 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 September 30, 2018 and December 31, 2017 , $ 8.5 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 ACCOUNT_2

DERIVATIVES AND HEDGE ACCOUNTING (Tables)	9 Months Ended
	Sep. 30, 2018
DERIVATIVES AND HEDGE ACCOUNTING
Notional amounts and fair values of derivative instruments	September 30, 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 $ 75 $ 1 $ 811 $ 23 $ - $ - $ 838 $ 15 Foreign exchange contracts 4,323 241 4,173 269 2,823 173 4,783 350 Equity contracts - - - - - - 159 19 Derivatives not designated as hedging instruments: (a) Interest rate contracts 36,841 2,504 27,131 2,096 37,751 2,171 26,461 2,185 Foreign exchange contracts 8,877 686 8,282 818 6,305 658 11,093 895 Equity contracts 18,826 340 1,585 5 19,975 522 1,130 2 Credit contracts (b) 3 1 1,418 252 4 1 1,365 277 Other contracts (c) 38,292 15 60 3 39,829 20 59 5 Total derivatives, gross $ 107,237 $ 3,788 $ 43,460 $ 3,466 $ 106,687 $ 3,545 $ 45,888 $ 3,748 Counterparty netting (d) (1,874) (1,874) (1,464) (1,464) Cash collateral (e) (964) (290) (1,159) (1,249) Total derivatives on condensed consolidated balance sheets (f) $ 950 $ 1,302 $ 922 $ 1,035 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b ) As of September 30, 2018 and December 31, 2017 , included CDSs on super senior multi-sector CDOs with a net notional amount of $ 616 million and $ 685 million (fair value liability of $ 232 million and $ 254 million), respectively. The net notional amount represents the maximum exposur e to loss on the portfolio. As of September 30, 2018 and December 31, 2017 , there were no super senior corporate debt/CLOs remaining. (c) Consists primarily of stable value wraps and contracts with multiple 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 embedded 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 September 30, 2018 and December 31, 2017. Fair value of liabil ities related to bifurcated embedded derivatives was $ 3.4 billion and $ 4.1 billion, respectively, at September 30, 2018 and December 31, 2017. A bifurcated embedded derivative is generally pr esented 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 September 30, 2018 Interest rate contracts : Realized capital gains/(losses) $ (1) $ 1 $ - $ - $ - Foreign exchange contracts : Realized capital gains/(losses) (11) 16 - 5 - Other income - - - - - Equity contracts : Realized capital gains/(losses) - - - - - Three Months Ended September 30, 2017 Interest rate contracts : Realized capital gains/(losses) $ (1) $ 1 $ - $ - $ - Foreign exchange contracts : Realized capital gains/(losses) (157) 142 - (15) - Other income - - - - - Equity contracts : Realized capital gains/(losses) (3) 2 - (1) - Nine Months Ended September 30, 2018 Interest rate contracts : Realized capital gains/(losses) $ (9) $ 10 $ 1 $ - $ - Foreign exchange contracts : Realized capital gains/(losses) 184 (175) - 9 - Other income - - - - - Equity contracts : Realized capital gains/(losses) - - - - - Nine Months Ended September 30, 2017 Interest rate contracts : Realized capital gains/(losses) $ 1 $ (1) $ - $ - $ - Foreign exchange contracts : Realized capital gains/(losses) (318) 332 - 14 - Other income - 4 - - 4 Equity contracts : Realized capital gains/(losses) (29) 26 - (3) - (a) The amounts presented do not include the periodic net coupon settlements of the derivative contract or the coupon income (expense) related to the hedged item. (b) Represents accretion/amortization of opening fair value of the hedged item at inception of hedge relationship, amortization of basis adjustment on hedged item following the discontinuation of hedge accounting, and the release of debt basis adjustment following the repurchase of issued debt that was part of pr eviously-discontinued fair value h edge relationship.
Effect of AIG's derivative instruments not designated as hedging instruments in the Consolidated Statements of Income	Gains (Losses) Recognized in Earnings Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 By Derivative Type: Interest rate contracts $ (270) $ (18) $ (892) $ 81 Foreign exchange contracts 43 (98) 295 (220) Equity contracts (199) (233) (386) (723) Credit contracts 6 19 18 55 Other contracts 18 19 52 55 Embedded derivatives 229 (213) 1,164 (326) Total $ (173) $ (524) $ 251 $ (1,078) By Classification: Policy fees $ 17 $ 20 $ 51 $ 59 Net investment income - (3) (3) (10) Net realized capital gains (losses) (223) (550) 133 (1,250) Other income 35 8 76 121 Policyholder benefits and claims incurred (2) 1 (6) 2 Total $ (173) $ (524) $ 251 $ (1,078)

INSURANCE LIABILITIES (Tables)

INSURANCE LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 76,713 $ 76,422 $ 78,393 $ 77,077 Reinsurance recoverable (27,406) (27,660) (26,708) (15,532) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 49,307 48,762 51,685 61,545 Losses and loss adjustment expenses incurred : Current year 6,670 7,511 15,800 16,021 Prior years, excluding discount and amortization of deferred gain 949 901 884 1,354 Prior years, discount charge (benefit) 3 48 (174) 283 Prior years, amortization of deferred gain on retroactive reinsurance (a) (175) (75) (283) (195) Total losses and loss adjustment expenses incurred 7,447 8,385 16,227 17,463 Losses and loss adjustment expenses paid : Current year (1,791) (1,634) (3,289) (3,342) Prior years (4,526) (3,395) (14,312) (12,438) Total losses and loss adjustment expenses paid (6,317) (5,029) (17,601) (15,780) Other changes : Foreign exchange effect (236) 330 (393) 688 Acquisitions (b) 3,020 - 3,020 - Retroactive reinsurance adjustment (net of discount) (c) (464) 22 (181) (11,438) Reclassified to liabilities held for sale (d) - 8 - - Total other changes 2,320 360 2,446 (10,750) Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 52,757 52,478 52,757 52,478 Reinsurance recoverable 29,202 27,609 29,202 27,609 Total $ 81,959 $ 80,087 $ 81,959 $ 80,087 (a) Includes $9 million and $6 million for the retroactive reinsurance agreement with NICO covering U.S. asbestos exposures for t he three -month periods ended September 30 , 2018 and 2017, respectively, and $22 million and $11 million for the nine-month periods ended September 30 , 2018 and 2017, respectively. (b) Amounts relate to the acquisition of Validus in July 2018. (c) Includes discount on retroactive reinsurance of $46 million and $(53) million for the three -month peri ods ended September 30 , 2018 and 2017, respectively, and $154 million and $1.5 billion for the nine-month periods ended September 30 , 2018 and 2017, respectively . (d) Represents change in loss reserves included in our sale of certain of our insurance oper ations to Fairfax Financial Holdings Limited ( Fairfax ) for the three - and nine-month periods ended September 30 , 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 follo wing table presents the components of the loss reserve discount discussed above: September 30, 2018 December 31, 2017 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total U.S. workers' compensation $ 2,733 $ 955 $ 3,688 $ 2,465 $ 918 $ 3,383 Retroactive reinsurance (1,693) - (1,693) (1,539) - (1,539) Total reserve discount * $ 1,040 $ 955 $ 1,995 $ 926 $ 918 $ 1,844 * Excludes $ 182 million and $173 million of discount related to certain long tail liabilities in the United Kingdom at September 30, 2018 and December 31, 2017 , respectively. The following table s present the net loss reserve discount benefit (charge) : Three Months Ended September 30, 2018 2017 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total Current accident year $ 89 $ - $ 89 $ 33 $ - $ 33 Accretion and other adjustments to prior year discount (7) (12) (19) (100) 25 (75) Effect of interest rate changes 13 3 16 (7) 1 (6) Net reserve discount benefit (charge) 95 (9) 86 (74) 26 (48) Change in discount on loss reserves ceded under retroactive reinsurance (46) - (46) 53 - 53 Net change in total reserve discount (a) $ 49 $ (9) $ 40 $ (21) $ 26 $ 5 Nine Months Ended September 30, 2018 2017 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total Current accident year $ 131 $ - $ 131 $ 94 $ - $ 94 Accretion and other adjustments to prior year discount (95) (42) (137) (205) (34) (239) Effect of interest rate changes 232 79 311 (96) (42) (138) Net reserve discount benefit (charge) 268 37 305 (207) (76) (283) Change in discount on loss reserves ceded under retroactive reinsurance (154) - (154) (1,494) - (1,494) Net change in total reserve discount (b) $ 114 $ 37 $ 151 $ (1,701) $ (76) $ (1,777) (a) Excludes $12 million and $(18) million discount related to certain long tail liabilities in the United Kingdom for the three-month periods ended September 30, 2018 and 2017, respectively. (b) Excludes $10 million and $20 million discount related to certain long tail liabilities in the United Kingdom for the nine-month periods ended September 30, 2018 and 2017, respectively.

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Sep. 30, 2018
EQUITY
Rollforward of common stock outstanding	Nine Months Ended September 30, 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 - 4,055,727 4,055,727 Shares repurchased - (18,452,857) (18,452,857) Shares, end of period 1,906,671,492 (1,022,023,965) 884,647,527
Dividends Paid	The following table presents declaration date, record dat e, payment date and dividends paid per share on AIG Common Stock: Dividends Paid Declaration Date Record Date Payment Date Per Share August 2, 2018 September 17, 2018 September 28, 2018 $ 0.32 May 2, 2018 June 14, 2018 June 28, 2018 0.32 February 8, 2018 March 15, 2018 March 29, 2018 0.32 August 2, 2017 September 15, 2017 September 29, 2017 0.32 May 3, 2017 June 14, 2017 June 28, 2017 0.32 February 14, 2017 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: Nine Months Ended September 30, (in millions) 2018 2017 Aggregate repurchases of common stock $ 994 $ 6,275 Total number of common shares repurchased 18 100 Aggregate repurchases of warrants $ 6 $ 3 Total number of warrants repurchased * - - * For the nine -month period s ended September 30, 2018 and 2017 , we repurchased 366,253 and 185,000 warrants to purchase shares of AIG Common Stock , respectively.
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, June 30, 2018, net of tax $ (234) $ 3,944 $ (2,426) $ (1,062) $ 8 $ 230 Cumulative effect of change in accounting principles - - - - - - Change in unrealized appreciation (depreciation) of investments 350 (1,301) - - - (951) Change in deferred policy acquisition costs adjustment and other (205) 216 - - - 11 Change in future policy benefits - 340 - - - 340 Change in foreign currency translation adjustments - - (131) - - (131) Change in net actuarial loss - - - 16 - 16 Change in prior service cost - - - - - - Change in deferred tax asset (liability) (38) (13) 2 (2) - (51) Change in fair value of liabilities under fair value option attributable to changes in own credit risk - - - - - - Total other comprehensive income (loss) 107 (758) (129) 14 - (766) Noncontrolling interests - - - - - - Balance, September 30, 2018, net of tax $ (127) $ 3,186 $ (2,555) $ (1,048) $ 8 $ (536) 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 (1,258) (7,659) - - - (8,917) Change in deferred policy acquisition costs adjustment and other (91) 1,121 - - - 1,030 Change in future policy benefits - 1,464 - - - 1,464 Change in foreign currency translation adjustments - - (154) - - (154) Change in net actuarial loss - - - 54 - 54 Change in prior service credit - - - (2) - (2) Change in deferred tax asset (liability) 260 852 (27) 14 - 1,099 Change in fair value of liabilities under fair value option attributable to changes in own credit risk - - - - 1 1 Total other comprehensive income (loss) (1,089) (4,222) (181) 66 1 (5,425) Noncontrolling interests - - - - - - Balance, September 30, 2018, net of tax $ (127) $ 3,186 $ (2,555) $ (1,048) $ 8 $ (536) 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, June 30, 2017, net of tax $ 659 $ 7,753 $ (2,507) $ (943) $ - $ 4,962 Change in unrealized appreciation of investments 223 855 - - - 1,078 Change in deferred policy acquisition costs adjustment and other (73) (271) - - - (344) Change in future policy benefits - 114 - - - 114 Change in foreign currency translation adjustments - - 328 - - 328 Change in net actuarial loss - - - 96 - 96 Change in prior service cost - - - - - - Change in deferred tax liability (53) (206) (3) (33) - (295) Total other comprehensive income 97 492 325 63 - 977 Noncontrolling interests - - - - - - Balance, September 30, 2017, net of tax $ 756 $ 8,245 $ (2,182) $ (880) $ - $ 5,939 Balance, December 31, 2016, net of tax $ 426 $ 6,405 $ (2,629) $ (972) $ - $ 3,230 Change in unrealized appreciation of investments 564 3,693 - - - 4,257 Change in deferred policy acquisition costs adjustment and other * (56) (1,269) - - - (1,325) Change in future policy benefits - (425) - - - (425) Change in foreign currency translation adjustments - - 474 - - 474 Change in net actuarial loss - - - 134 - 134 Change in prior service cost - - - 6 - 6 Change in deferred tax liability (178) (159) (27) (48) - (412) Total other comprehensive income 330 1,840 447 92 - 2,709 Noncontrolling interests - - - - - - Balance, September 30, 2017, net of tax $ 756 $ 8,245 $ (2,182) $ (880) $ - $ 5,939 * 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 Three Months Ended September 30, 2018 Unrealized change arising during period $ 146 $ (705) $ (131) $ 7 $ - $ (683) Less: Reclassification adjustments included in net income 1 40 - (9) - 32 Total other comprehensive income (loss), before income tax expense (benefit) 145 (745) (131) 16 - (715) Less: Income tax expense (benefit) 38 13 (2) 2 - 51 Total other comprehensive income (loss), net of income tax expense (benefit) $ 107 $ (758) $ (129) $ 14 $ - $ (766) Three Months Ended September 30, 2017 Unrealized change arising during period $ 160 $ 831 $ 328 $ 38 $ - $ 1,357 Less: Reclassification adjustments included in net income 10 133 - (58) - 85 Total other comprehensive income, before income tax expense 150 698 328 96 - 1,272 Less: Income tax expense 53 206 3 33 - 295 Total other comprehensive income, net of income tax expense $ 97 $ 492 $ 325 $ 63 $ - $ 977 Nine Months Ended September 30, 2018 Unrealized change arising during period $ (1,344) $ (5,055) $ (154) $ 26 $ 1 $ (6,526) Less: Reclassification adjustments included in net income 5 19 - (26) - (2) Total other comprehensive income (loss), before income tax expense (benefit) (1,349) (5,074) (154) 52 1 (6,524) Less: Income tax expense (benefit) (260) (852) 27 (14) - (1,099) Total other comprehensive income (loss), net of income tax expense (benefit) $ (1,089) $ (4,222) $ (181) $ 66 $ 1 $ (5,425) Nine Months Ended September 30, 2017 Unrealized change arising during period $ 553 $ 2,610 $ 474 $ 62 $ - $ 3,699 Less: Reclassification adjustments included in net income 45 611 - (78) - 578 Total other comprehensive income, before income tax expense 508 1,999 474 140 - 3,121 Less: Income tax expense 178 159 27 48 - 412 Total other comprehensive income, net of income tax expense $ 330 $ 1,840 $ 447 $ 92 $ - $ 2,709
Schedule of effect of the reclassification of significant items out of Accumulated other comprehensive income on the respective line items in the Consolidated Statements of Income	Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income Three Months Ended September 30, (in millions) 2018 2017 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 1 $ 10 Other realized capital gains Total 1 10 Unrealized appreciation (depreciation) of all other investments Investments 10 48 Other realized capital gains Deferred acquisition costs adjustment 30 85 Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 40 133 Change in retirement plan liabilities adjustment Prior-service credit - - * Actuarial losses (9) (58) * Total (9) (58) Total reclassifications for the period $ 32 $ 85 Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income Nine Months Ended September 30, (in millions) 2018 2017 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 5 $ 45 Other realized capital gains Total 5 45 Unrealized appreciation (depreciation) of all other investments Investments 19 415 Other realized capital gains Deferred acquisition costs adjustment - 196 Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 19 611 Change in retirement plan liabilities adjustment Prior-service credit 1 1 * Actuarial losses (27) (79) * Total (26) (78) Total reclassifications for the period $ (2) $ 578 * These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 14 .

EARNINGS PER SHARE (EPS) (Table

EARNINGS PER SHARE (EPS) (Tables)	9 Months Ended
	Sep. 30, 2018
EARNINGS PER SHARE (EPS)
Computation of basic and diluted EPS	Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions, except per share data) 2018 2017 2018 2017 Numerator for EPS: Income (loss) from continuing operations $ (1,220) $ (1,712) $ 661 $ 609 Less: Net income from continuing operations attributable to noncontrolling interests - 26 5 40 Income (loss) attributable to AIG common shareholders from continuing operations (1,220) (1,738) 656 569 Income (loss) from discontinued operations, net of income tax expense (39) (1) (40) 7 Net income (loss) attributable to AIG common shareholders $ (1,259) $ (1,739) $ 616 $ 576 Denominator for EPS: Weighted average shares outstanding — basic 895,237,359 908,667,044 902,081,555 938,130,832 Dilutive shares - - 14,736,714 23,165,114 Weighted average shares outstanding — diluted (a)(b) 895,237,359 908,667,044 916,818,269 961,295,946 Income (loss) per common share attributable to AIG: Basic: Income (loss) from continuing operations $ (1.37) $ (1.91) $ 0.72 $ 0.60 Income (loss) from discontinued operations $ (0.04) $ - $ (0.04) $ 0.01 Income (loss) attributable to AIG $ (1.41) $ (1.91) $ 0.68 $ 0.61 Diluted: Income (loss) from continuing operations $ (1.37) $ (1.91) $ 0.71 $ 0.59 Income (loss) from discontinued operations $ (0.04) $ - $ (0.04) $ 0.01 Income (loss) attributable to AIG $ (1.41) $ (1.91) $ 0.67 $ 0.60 (a) Shares in the diluted EPS calculation represent basic shares for the three-month periods ended September 30, 2018 and 2017 due to the net losses in those periods. The shares excluded from the calculation were 13,538,168 and 22,459,868 shares, respectively. ( b ) Dilutive shares included 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 5.8 mill ion and 4.7 million for the three - and nine - month periods ended September 30, 2018 , respectively, and 2.4 mill ion and 2.0 million for the three - and nine - month periods ended September 30, 2017 , respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2018 Components of net periodic benefit cost: Service cost $ - $ 6 $ 6 $ - $ - $ - Interest cost 41 4 45 1 1 2 Expected return on assets (72) (6) (78) - - - Amortization of prior service cost - - - - - - Amortization of net loss 7 2 9 - - - Net periodic benefit cost (credit) $ (24) $ 6 $ (18) $ 1 $ 1 $ 2 Three Months Ended September 30, 2017 Components of net periodic benefit cost: Service cost $ (5) $ 7 $ 2 $ - $ 1 $ 1 Interest cost 41 4 45 2 1 3 Expected return on assets (66) (6) (72) - - - Amortization of prior service cost - - - - - - Amortization of net loss 6 3 9 - - - Curtailment gain - (5) (5) - - - Settlement charges 50 - 50 - - - Net periodic benefit cost $ 26 $ 3 $ 29 $ 2 $ 2 $ 4 Nine Months Ended September 30, 2018 Components of net periodic benefit cost: Service cost $ 4 $ 17 $ 21 $ 1 $ 1 $ 2 Interest cost 122 12 134 4 2 6 Expected return on assets (213) (19) (232) - - - Amortization of prior service cost (credit) - 1 1 (1) (1) (2) Amortization of net loss 21 6 27 - - - Net periodic benefit cost (credit) $ (66) $ 17 $ (49) $ 4 $ 2 $ 6 Nine Months Ended September 30, 2017 Components of net periodic benefit cost: Service cost $ 8 $ 23 $ 31 $ 1 $ 2 $ 3 Interest cost 126 12 138 5 3 8 Expected return on assets (194) (18) (212) - - - Amortization of prior service credit - - - (1) - (1) Amortization of net loss 20 9 29 - - - Curtailment gain - (5) (5) - - - Settlement charges 50 - 50 - - - Net periodic benefit cost $ 10 $ 21 $ 31 $ 5 $ 5 $ 10

INFORMATION PROVIDED IN CONNE_2

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)	9 Months Ended
	Sep. 30, 2018
Schedule II Condensed Financial Information of Registrant - Parent Company Only
Condensed Consolidating Balance Sheets	American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG September 30, 2018 Assets: Short-term investments (a) $ 1,459 $ 2 $ - $ 9,150 $ (1,748) $ 8,863 Other investments (b) 4,016 13 - 303,171 - 307,200 Total investments 5,475 15 - 312,321 (1,748) 316,063 Cash 3 66 3 2,669 - 2,741 Loans to subsidiaries (c) 34,713 - - 572 (35,285) - Investment in consolidated subsidiaries (c) 36,727 4,120 27,038 - (67,885) - Other assets, including deferred income taxes (d) 15,996 2,289 170 169,420 (1,819) 186,056 Total assets $ 92,914 $ 6,490 $ 27,211 $ 484,982 $ (106,737) $ 504,860 Liabilities: Insurance liabilities $ - $ - $ - $ 291,391 $ - $ 291,391 Long-term debt 22,459 710 643 10,782 - 34,594 Other liabilities, including intercompany balances (b) 11,296 416 132 111,419 (3,565) 119,698 Loans from subsidiaries (c) 573 - - 34,713 (35,286) - Total liabilities 34,328 1,126 775 448,305 (38,851) 445,683 Total AIG shareholders’ equity 58,586 5,364 26,436 36,086 (67,886) 58,586 Non-redeemable noncontrolling interests - - - 591 - 591 Total equity 58,586 5,364 26,436 36,677 (67,886) 59,177 Total liabilities and equity $ 92,914 $ 6,490 $ 27,211 $ 484,982 $ (106,737) $ 504,860 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 September 30, 2018 , includes restricted cash of $ 1 million and $ 27 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 September 30, 2018 , includes restricted cash of $ 1 million and $ 353 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 Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG Three Months Ended September 30, 2018 Revenues: Equity in earnings of consolidated subsidiaries * $ (989) $ (93) $ 1,316 $ - $ (234) $ - Other income 183 23 1 11,412 (133) 11,486 Total revenues (806) (70) 1,317 11,412 (367) 11,486 Expenses: Interest expense 244 10 12 63 (3) 326 Loss on extinguishment of debt - - - 1 - 1 Other expenses 132 2 1 12,513 38 12,686 Total expenses 376 12 13 12,577 35 13,013 Income (loss) from continuing operations before income tax expense (benefit) (1,182) (82) 1,304 (1,165) (402) (1,527) Income tax expense (benefit) 38 - (2) (343) - (307) Income (loss) from continuing operations (1,220) (82) 1,306 (822) (402) (1,220) Loss from discontinued operations, net of income taxes (39) - - - - (39) Net income (loss) (1,259) (82) 1,306 (822) (402) (1,259) Less: Net income (loss) from continuing operations attributable to noncontrolling interests - - - - - - Net income (loss) attributable to AIG $ (1,259) $ (82) $ 1,306 $ (822) $ (402) $ (1,259) Three Months Ended September 30, 2017 Revenues: Equity in earnings of consolidated subsidiaries * $ (2,098) $ - $ 1,138 $ - $ 960 $ - Other income 225 - - 11,455 71 11,751 Total revenues (1,873) - 1,138 11,455 1,031 11,751 Expenses: Interest expense 236 - 12 44 (2) 290 (Gain) loss on extinguishment of debt 2 - - (1) - 1 Other expenses 177 - 1 14,154 (69) 14,263 Total expenses 415 - 13 14,197 (71) 14,554 Income (loss) from continuing operations before income tax benefit (2,288) - 1,125 (2,742) 1,102 (2,803) Income tax benefit (549) - (4) (538) - (1,091) Income (loss) from continuing operations (1,739) - 1,129 (2,204) 1,102 (1,712) Loss from discontinued operations, net of income taxes - - - (1) - (1) Net income (loss) (1,739) - 1,129 (2,205) 1,102 (1,713) Less: Net income from continuing operations attributable to noncontrolling interests - - - 26 - 26 Net income (loss) attributable to AIG $ (1,739) $ - $ 1,129 $ (2,231) $ 1,102 $ (1,739) American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG Nine Months Ended September 30, 2018 Revenues: Equity in earnings of consolidated subsidiaries * $ 889 $ (93) $ 2,497 $ - $ (3,293) $ - Other income 750 23 1 34,103 (48) 34,829 Total revenues 1,639 (70) 2,498 34,103 (3,341) 34,829 Expenses: Interest expense 710 10 37 154 (9) 902 Loss on extinguishment of debt - - - 10 - 10 Other expenses 643 2 2 32,357 (39) 32,965 Total expenses 1,353 12 39 32,521 (48) 33,877 Income (loss) from continuing operations before income tax expense (benefit) 286 (82) 2,459 1,582 (3,293) 952 Income tax expense (benefit) (370) - - 661 - 291 Income (loss) from continuing operations 656 (82) 2,459 921 (3,293) 661 Loss from discontinued operations, net of income taxes (40) - - - - (40) Net income (loss) 616 (82) 2,459 921 (3,293) 621 Less: Net income from continuing operations attributable to noncontrolling interests - - - 5 - 5 Net income (loss) attributable to AIG $ 616 $ (82) $ 2,459 $ 916 $ (3,293) $ 616 Nine Months Ended September 30, 2017 Revenues: Equity in earnings of consolidated subsidiaries * $ 794 $ - $ 2,553 $ - $ (3,347) $ - Other income 653 - - 36,085 147 36,885 Total revenues 1,447 - 2,553 36,085 (3,200) 36,885 Expenses: Interest expense 719 - 37 129 (5) 880 (Gain) loss on extinguishment of debt 2 - - (6) - (4) Other expenses 693 - 2 34,865 (142) 35,418 Total expenses 1,414 - 39 34,988 (147) 36,294 Income (loss) from continuing operations before income tax expense (benefit) 33 - 2,514 1,097 (3,053) 591 Income tax expense (benefit) (544) - (12) 538 - (18) Income (loss) from continuing operations 577 - 2,526 559 (3,053) 609 Income (loss) from discontinued operations, net of income taxes (1) - - 8 - 7 Net income (loss) 576 - 2,526 567 (3,053) 616 Less: Net income from continuing operations attributable to noncontrolling interests - - - 40 - 40 Net income (loss) attributable to AIG $ 576 $ - $ 2,526 $ 527 $ (3,053) $ 576 * Eliminated in consolidation.
Condensed Consolidating Statements of Comprehensive Income (Loss)	American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG Three Months Ended September 30, 2018 Net income (loss) $ (1,259) $ (82) $ 1,306 $ (822) $ (402) $ (1,259) Other comprehensive income (loss) (766) - (301) (1,436) 1,737 (766) Comprehensive income (loss) (2,025) (82) 1,005 (2,258) 1,335 (2,025) Total comprehensive income attributable to noncontrolling interests - - - - - - Comprehensive income (loss) attributable to AIG $ (2,025) $ (82) $ 1,005 $ (2,258) $ 1,335 $ (2,025) Three Months Ended September 30, 2017 Net income (loss) $ (1,739) $ - $ 1,129 $ (2,205) $ 1,102 $ (1,713) Other comprehensive income (loss) 977 - 1,274 (30,625) 29,351 977 Comprehensive income (loss) (762) - 2,403 (32,830) 30,453 (736) Total comprehensive income attributable to noncontrolling interests - - - 26 - 26 Comprehensive income (loss) attributable to AIG $ (762) $ - $ 2,403 $ (32,856) $ 30,453 $ (762) Nine Months Ended September 30, 2018 Net income (loss) $ 616 $ (82) $ 2,459 $ 921 $ (3,293) $ 621 Other comprehensive income (loss) (5,425) - 3,139 12,568 (15,707) (5,425) Comprehensive income (loss) (4,809) (82) 5,598 13,489 (19,000) (4,804) Total comprehensive income attributable to noncontrolling interests - - - 5 - 5 Comprehensive income (loss) attributable to AIG $ (4,809) $ (82) $ 5,598 $ 13,484 $ (19,000) $ (4,809) Nine Months Ended September 30, 2017 Net income (loss) $ 576 $ - $ 2,526 $ 567 $ (3,053) $ 616 Other comprehensive income (loss) 2,709 - 7,056 18,864 (25,920) 2,709 Comprehensive income (loss) 3,285 - 9,582 19,431 (28,973) 3,325 Total comprehensive income attributable to noncontrolling interests - - - 40 - 40 Comprehensive income (loss) attributable to AIG $ 3,285 $ - $ 9,582 $ 19,391 $ (28,973) $ 3,285
Condensed Consolidating Statements of Cash Flows	American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG Nine Months Ended September 30, 2018 Net cash (used in) provided by operating activities $ 1,389 $ (40) $ 2,003 $ (433) $ (2,957) $ (38) Cash flows from investing activities: Sales of investments 4,641 - - 45,218 (3,326) 46,533 Sales of divested businesses, net - - - 10 - 10 Purchase of investments (1,680) - - (45,574) 3,326 (43,928) Loans to subsidiaries - net 878 - - (50) (828) - Contributions from (to) subsidiaries - net 22 - - - (22) - Acquisition of businesses, net of cash and restricted cash acquired (5,475) 112 - 311 - (5,052) Net change in short-term investments 1,267 - - 1,144 - 2,411 Other, net (55) - - (836) - (891) Net cash (used in) provided by investing activities (402) 112 - 223 (850) (917) Cash flows from financing activities: Issuance of long-term debt 2,470 - - 1,589 - 4,059 Repayments of long-term debt (1,493) - - (1,295) - (2,788) Purchase of common stock (994) - - - - (994) Intercompany loans - net 50 - - (878) 828 - Cash dividends paid (858) (6) (2,020) (931) 2,957 (858) Other, net (165) - - 2,057 22 1,914 Net cash (used in) provided by financing activities (990) (6) (2,020) 542 3,807 1,333 Effect of exchange rate changes on cash and restricted cash - - - 8 - 8 Change in cash and restricted cash (3) 66 (17) 340 - 386 Cash and restricted cash at beginning of year 8 - 20 2,709 - 2,737 Cash and restricted cash at end of period $ 5 $ 66 $ 3 $ 3,049 $ - $ 3,123 Nine Months Ended September 30, 2017 Net cash (used in) provided by operating activities $ 793 $ - $ 1,105 $ (8,440) $ (2,320) $ (8,862) Cash flows from investing activities: Sales of investments 5,428 - - 58,592 (3,508) 60,512 Sales of divested businesses, net 40 - - 565 - 605 Purchase of investments (1,781) - - (49,675) 3,508 (47,948) Loans to subsidiaries - net 38 - - 5 (43) - Contributions from (to) subsidiaries - net 990 - - - (990) - Net change in short-term investments 1,926 - - 889 - 2,815 Other, net (17) - (4) (1,488) - (1,509) Net cash (used in) provided by investing activities 6,624 - (4) 8,888 (1,033) 14,475 Cash flows from financing activities: Issuance of long-term debt 1,108 - - 1,297 - 2,405 Repayments of long-term debt (1,354) - - (1,397) - (2,751) Purchase of common stock (6,275) - - - - (6,275) Intercompany loans - net (5) - - (38) 43 - Cash dividends paid (884) - (1,133) (1,187) 2,320 (884) Other, net (5) - - 1,394 990 2,379 Net cash (used in) provided by financing activities (7,415) - (1,133) 69 3,353 (5,126) Effect of exchange rate changes on cash and restricted cash - - - (22) - (22) Change in cash and restricted cash 2 - (32) 495 - 465 Cash and restricted cash at beginning of year 3 - 34 2,070 - 2,107 Change in cash of businesses held for sale - - - 133 - 133 Cash and restricted cash at end of period $ 5 $ - $ 2 $ 2,698 $ - $ 2,705
Supplementary Disclosure of Condensed Consolidating Cash Flow Information	American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG September 30, 2018 Cash $ 3 $ 66 $ 3 $ 2,669 $ - $ 2,741 Restricted cash included in Short-term investments 1 - - 27 - 28 Restricted cash included in Other assets 1 - - 353 - 354 Total cash and restricted cash shown in the Condensed Consolidating Statements of Cash Flows $ 5 $ 66 $ 3 $ 3,049 $ - $ 3,123 Cash (paid) received during the 2018 period for: Interest: Third party $ (706) $ 14 $ (47) $ (279) $ - $ (1,018) Intercompany (1) - (1) 2 - - Taxes: Income tax authorities $ (23) $ - $ - $ (44) $ - $ (67) Intercompany 1,084 - - (1,084) - - September 30, 2017 Cash $ 3 $ - $ 2 $ 2,428 $ - $ 2,433 Restricted cash included in Short-term investments 1 - - 52 - 53 Restricted cash included in Other assets 1 - - 218 - 219 Total cash and restricted cash shown in the Condensed Consolidating Statements of Cash Flows $ 5 $ - $ 2 $ 2,698 $ - $ 2,705 Cash (paid) received during the 2017 period for: Interest: Third party $ (791) $ - $ (47) $ (208) $ - $ (1,046) Intercompany (1) - (1) 2 - - Taxes: Income tax authorities $ (324) $ - $ - $ (166) $ - $ (490) Intercompany 1,852 - - (1,852) - -
Supplementary disclosure of non-cash activities	Nine Months Ended September 30, (in millions) 2018 2017 Intercompany non-cash financing and investing activities: Capital contributions $ 2,339 $ 198 Dividends received in the form of securities 745 735 Return of capital 2,706 26

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ / shares in Units, $ in Millions	Jul. 18, 2018USD ($)	Sep. 30, 2018USD ($)item$ / shares	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)item$ / shares	Sep. 30, 2017USD ($)	Dec. 31, 2017$ / shares
Basis of Presentation [Line Items]
Common Stock, Par or Stated Value Per Share | $ / shares		$ 2.5		$ 2.5		$ 2.5
Net income (loss) attributable to AIG		$ (1,259)	$ (1,739)	$ 616	$ 576
Income (loss) from continuing operations before income tax expense (benefit)		(1,527)	$ (2,803)	952	$ 591
Validus Holding Ltd [Member]
Basis of Presentation [Line Items]
Payments to Acquire Business	$ 5,475
Net income (loss) attributable to AIG		(105)		(105)
Scenario Adjustment [Member]
Basis of Presentation [Line Items]
Net income (loss) attributable to AIG		(205)		(28)
Income (loss) from continuing operations before income tax expense (benefit)		(253)		(15)
Adjusted Pre-Tax Income (Loss)		$ 0		$ 0
Minimum
Basis of Presentation [Line Items]
Number of Countries in which Entity Operates | item		80		80

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Other significant accounting policies) - USD ($) $ in Millions	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle			$ (8)	$ 0
Accumulated Other Comprehensive Income
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle		$ 0	(576)	0
Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle			$ 568	$ 0
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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Total Revenues	$ 11,486	$ 11,751	$ 34,829	$ 36,885
Net investment income	3,396	3,416	9,722	10,715
Interest Expense	326	290	902	880
Deferred acquisition costs adjustment	1,118	912	3,813	3,135
Adjusted pre-tax income (loss)	(1,527)	(2,803)	952	591
AIG Consolidation and Eliminations
Segment Reporting Information [Line Items]
Total Revenues	(42)	(119)	(214)	(237)
Adjusted pre-tax income (loss)	29	(1)	28	75
Total AIG Consolidated adjusted revenues and adjusted pre-tax income (loss)
Segment Reporting Information [Line Items]
Total Revenues	12,035	12,658	35,395	37,889
Adjusted pre-tax income (loss)	(416)	(1,856)	2,078	2,318
General Insurance | Reportable Segments
Segment Reporting Information [Line Items]
Total Revenues	7,982	7,501	22,653	22,460
Adjusted pre-tax income (loss)	(825)	(2,933)	253	(826)
General Insurance | Reportable Segments | North America
Segment Reporting Information [Line Items]
Total Revenues	4,129	3,634	10,895	11,145
Adjusted pre-tax income (loss)	(160)	(2,193)	567	(644)
General Insurance | Reportable Segments | International
Segment Reporting Information [Line Items]
Total Revenues	3,853	3,867	11,758	11,315
Adjusted pre-tax income (loss)	(665)	(740)	(314)	(182)
Life and Retirement | Reportable Segments
Segment Reporting Information [Line Items]
Total Revenues	3,146	4,136	10,071	11,204
Adjusted pre-tax income (loss)	713	1,158	2,567	3,049
Life and Retirement | Reportable Segments | Individual Retirement
Segment Reporting Information [Line Items]
Total Revenues	1,335	1,343	4,062	4,099
Adjusted pre-tax income (loss)	393	718	1,354	1,815
Life and Retirement | Reportable Segments | Group Retirement
Segment Reporting Information [Line Items]
Total Revenues	718	702	2,209	2,116
Adjusted pre-tax income (loss)	242	249	774	758
Life and Retirement | Reportable Segments | Life insurance
Segment Reporting Information [Line Items]
Total Revenues	809	1,000	2,962	3,043
Adjusted pre-tax income (loss)	16	112	243	272
Life and Retirement | Reportable Segments | Institutional Markets
Segment Reporting Information [Line Items]
Total Revenues	284	1,091	838	1,946
Adjusted pre-tax income (loss)	62	79	196	204
Other Operations
Segment Reporting Information [Line Items]
Total Revenues	135	127	454	1,227
Adjusted pre-tax income (loss)	(417)	(366)	(1,133)	(1,039)
Legacy Portfolio
Segment Reporting Information [Line Items]
Total Revenues	814	1,013	2,431	3,235
Adjusted pre-tax income (loss)	$ 84	$ 286	$ 363	$ 1,059

SEGMENT INFORMATION (Details _2

SEGMENT INFORMATION (Details - Continuing operations by reportable segment - Pretax operating income to pre-tax income)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Reconciling items to revenues and pre-tax income (loss):
Gain (Loss) on extinguishment of debt	$ (1)	$ (1)	$ (10)	$ 4
Income (loss) from divested businesses	2	(13)	35	(173)
Net reserve discount benefit (charge)	86	(48)	305	(283)
Adjusted pre-tax income (loss)	(1,527)	(2,803)	952	591
Reconciling items from pre-tax operating income to pre-tax income | Total Revenues
Reconciling items to revenues and pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed living benefits	(5)	26	(109)	117
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	0	0	0	0
Gain (Loss) on extinguishment of debt	0	0	0	0
Net realized capital gains (losses)	(540)	(922)	(430)	(1,106)
Income (loss) from divested businesses	0	0	0	0
Non-operating litigation reserves and settlements	0	1	2	17
Prior Year Development And Change In Amortization Of Deferred Gain On Retroactive Reinsurance	0	0	0	0
Net reserve discount benefit (charge)	0	0	0	0
Pension expense related to a one-time lump sum payment to former employees	0	0	0	0
Integration and transaction costs associated with acquired businesses	0	0	0	0
Restructuring and other costs	0	0	0	0
Other	(4)	(12)	(29)	(32)
Reconciling items from pre-tax operating income to pre-tax income | Adjusted Pre-Tax Income (loss)
Reconciling items to revenues and pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed living benefits	(14)	26	(127)	117
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	76	84	46	195
Gain (Loss) on extinguishment of debt	(1)	(1)	(10)	4
Net realized capital gains (losses)	(524)	(922)	(388)	(1,106)
Income (loss) from divested businesses	2	(13)	35	(173)
Non-operating litigation reserves and settlements	(5)	0	(30)	86
Prior Year Development And Change In Amortization Of Deferred Gain On Retroactive Reinsurance	(605)	7	(607)	(258)
Net reserve discount benefit (charge)	86	(48)	305	(283)
Pension expense related to a one-time lump sum payment to former employees	0	(49)	0	(50)
Integration and transaction costs associated with acquired businesses	(91)	0	(91)	0
Restructuring and other costs	(35)	(31)	(259)	(259)
Other	$ 0	$ 0	$ 0	$ 0

BUSINESS COMBINATION (Details -

BUSINESS COMBINATION (Details - Identifiable Assets Acquired and Liabilities Assumed) - Validus Holding Ltd [Member] $ in Millions	Jul. 18, 2018USD ($)
BUSINESS COMBINATION
Investments	$ 6,613
Cash	330
Premiums and other receivables	2,130
Reinsurance assets	1,692
Value of business acquired	298
Deferred income taxes	63
Other assets, including restricted cash of $93	1,008
Liability for unpaid claims and claims adjustment expense	(4,138)
Unearned premiums	(2,083)
Long-term debt	(1,106)
Other liabilities	(913)
Preference shares	(416)
Total identifiable net assets acquired	3,478
Cash consideration paid	5,475
Goodwill	1,997
Restricted cash	$ 93

BUSINESS COMBINATION (Details_2

BUSINESS COMBINATION (Details - Pro Forma Income Statement Information) - Validus Holding Ltd [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
BUSINESS COMBINATION
Total revenues	$ 11,486	$ 12,418	$ 36,028	$ 38,752
Net income	(1,259)	(1,958)	576	571
Net income attributable to AIG	$ (1,259)	$ (1,984)	$ 571	$ 531
Basic net income (loss) per common share attributable to AIG	$ (1.41)	$ (2.18)	$ 0.63	$ 0.57
Diluted net income (loss) per common share attributable to AIG	$ (1.41)	$ (2.18)	$ 0.62	$ 0.55

BUSINESS COMBINATION (Details_3

BUSINESS COMBINATION (Details - Identified Intangible Assets Acquired) - USD ($) $ in Millions	Jul. 18, 2018	Sep. 30, 2018
Business Acquisition [Line Items]
Definite and indefinite lived intangibles	$ 1,010
Syndicate Capacity
Business Acquisition [Line Items]
Indefinite lived intangibles	193
Other
Business Acquisition [Line Items]
Indefinite lived intangibles	75
Value of Distribution Network Acquired
Business Acquisition [Line Items]
Definite lived intangibles	444
Definite lived intangibles, weighted average useful life		15 years
Value of Business Acquired
Business Acquisition [Line Items]
Definite lived intangibles	$ 298
Definite lived intangibles, weighted average useful life		2 years

BUSINESS COMBINATION (Details_4

BUSINESS COMBINATION (Details - Narrative) $ in Millions	Jul. 18, 2018USD ($)shares	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 27, 2018$ / shares	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Revenues		$ 11,486	$ 11,751	$ 34,829	$ 36,885
Net income (loss)		(1,259)	(1,713)	621	616
Net income (loss) attributable to AIG		(1,259)	$ (1,739)	616	$ 576
Other invested assets		19,739		19,739			$ 20,822
Validus Holdings, Ltd
Business Acquisition [Line Items]
Interest acquired	100.00%
Cash consideration paid	$ 5,475
Revenues		756		756
Net income (loss)		(105)		(105)
Net income (loss) attributable to AIG		(105)		(105)
Integration and transaction costs associated with acquired businesses		91		91
Redemption price of preference shares acquired | $ / shares						26,000
Goodwill	$ 1,997
Validus Holdings, Ltd | Series A [Member]
Business Acquisition [Line Items]
Number of preference shares acquired | shares	6,000
Dividend rate of preference shares acquired	5.875%
Validus Holdings, Ltd | Series B [Member]
Business Acquisition [Line Items]
Number of preference shares acquired | shares	10,000
Dividend rate of preference shares acquired	5.80%
Validus Holdings, Ltd | North America
Business Acquisition [Line Items]
Goodwill	$ 1,800
Validus Holdings, Ltd | International
Business Acquisition [Line Items]
Goodwill	$ 157
AlphaCat [Member]
Business Acquisition [Line Items]
Other invested assets		$ 128		$ 128

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	$ 232,720		$ 232,720		$ 238,992
Other bond securities	11,420		11,420		12,772
Equity securities available for sale	0		0		1,708
Other equity securities	1,443		1,443		589
Other invested assets	6,144		6,144		6,248
Derivative Assets, Fair Value	3,788		3,788		3,545
Derivative assets, Counterparty netting	(1,874)		(1,874)		(1,464)
Derivative assets, Cash collateral	(964)		(964)		(1,159)
Short-term investments, portion measured at fair value	3,633		3,633		2,615
Separate account assets, at fair value	93,045		93,045		92,798
Other assets	950		950		922
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	3,376		3,376		4,150
Other policyholder funds	3,738		3,738		3,648
Derivative Liabilities, Fair Value	3,466		3,466		3,748
Derivative liabilities, Counterparty netting	(1,874)		(1,874)		(1,464)
Derivative liabilities, Cash collateral	(290)		(290)		(1,249)
Long-term debt, portion measured at fair value	2,311		2,311		2,888
Other liabilities	1,491		1,491		1,124
Fair Value Option
Fair Value, Liabilities Measured on Recurring Basis
Long-term debt, portion measured at fair value	2,311		2,311		2,888
U.S. government and government sponsored entities
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	52	$ 0	733	$ 113
Non-U.S. governments
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	0	300	16	352
Preferred Stock
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	0	$ 0	0	$ 126
Recurring Basis | Level 1
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	28		28		221
Other bond securities	96		96		238
Equity securities available for sale					1,189
Other equity securities	1,400		1,400		589
Mortgage and other loans receivable	0		0		0
Other invested assets	0		0		0
Derivative Assets, Fair Value	16		16		189
Short-term investments, portion measured at fair value	2,513		2,513		2,078
Separate account assets, at fair value	88,092		88,092		87,141
Fair value assets measured on recurring basis, total	92,145		92,145		91,645
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0		0
Other policyholder funds	0		0		0
Derivative Liabilities, Fair Value	3		3		4
Long-term debt, portion measured at fair value	0		0		0
Other liabilities	165		165		46
Fair value liabilities measured on recurring basis, total	168		168		50
Recurring Basis | Level 1 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		1
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1		1		2
Recurring Basis | Level 1 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 1 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	16		16		188
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	2		2		2
Recurring Basis | Level 1 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 1 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 1 | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, 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	9		9		201
Other bond securities	96		96		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		0
Other bond securities	0		0		0
Recurring Basis | Level 1 | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	19		19		20
Other bond securities	0		0		0
Recurring Basis | Level 1 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis | Level 1 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis | Level 1 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis | Level 1 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis | Level 1 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					1,061
Recurring Basis | Level 1 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					18
Recurring Basis | Level 1 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					110
Recurring Basis | Level 2
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	205,356		205,356		209,775
Other bond securities	5,444		5,444		6,022
Equity securities available for sale					519
Other equity securities	18		18		0
Mortgage and other loans receivable	0		0		0
Other invested assets	603		603		1
Derivative Assets, Fair Value	3,652		3,652		3,249
Short-term investments, portion measured at fair value	1,120		1,120		537
Separate account assets, at fair value	4,953		4,953		5,657
Fair value assets measured on recurring basis, total	221,146		221,146		225,760
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0		14
Other policyholder funds	0		0		0
Derivative Liabilities, Fair Value	3,205		3,205		3,450
Long-term debt, portion measured at fair value	2,311		2,311		2,888
Other liabilities	24		24		43
Fair value liabilities measured on recurring basis, total	5,540		5,540		6,395
Recurring Basis | Level 2 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	2,505		2,505		2,170
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	2,106		2,106		2,176
Recurring Basis | Level 2 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	927		927		827
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,082		1,082		1,241
Recurring Basis | Level 2 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	220		220		252
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	2		2		19
Recurring Basis | Level 2 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	15		15		14
Recurring Basis | Level 2 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis | Level 2 | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, 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	3,084		3,084		2,455
Other bond securities	2,538		2,538		2,564
Recurring Basis | Level 2 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	14,516		14,516		16,240
Other bond securities	0		0		0
Recurring Basis | Level 2 | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,196		15,196		15,631
Other bond securities	49		49		57
Recurring Basis | Level 2 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	130,942		130,942		133,003
Other bond securities	1,707		1,707		1,891
Recurring Basis | Level 2 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	20,365		20,365		21,098
Other bond securities	311		311		421
Recurring Basis | Level 2 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	11,990		11,990		13,217
Other bond securities	328		328		485
Recurring Basis | Level 2 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	9,263		9,263		8,131
Other bond securities	511		511		604
Recurring Basis | Level 2 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					0
Recurring Basis | Level 2 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					515
Recurring Basis | Level 2 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					4
Recurring Basis | Level 3
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	27,336		27,336		28,996
Other bond securities	5,880		5,880		6,512
Equity securities available for sale					0
Other equity securities	25		25		0
Mortgage and other loans receivable	0		0		5
Other invested assets	398		398		250
Derivative Assets, Fair Value	120		120		107
Short-term investments, portion measured at fair value	0		0		0
Separate account assets, at fair value	0		0		0
Fair value assets measured on recurring basis, total	33,759		33,759		35,870
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	3,376		3,376		4,136
Other policyholder funds	0		0		0
Derivative Liabilities, Fair Value	258		258		294
Long-term debt, portion measured at fair value	0		0		0
Other liabilities	0		0		0
Fair value liabilities measured on recurring basis, total	3,634		3,634		4,430
Recurring Basis | Level 3 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	12		12		22
Recurring Basis | Level 3 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		4
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	5		5		4
Recurring Basis | Level 3 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	104		104		82
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1		1		0
Recurring Basis | Level 3 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	1		1		1
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	237		237		263
Recurring Basis | Level 3 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	15		15		20
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	3		3		5
Recurring Basis | Level 3 | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0
Recurring Basis | Level 3 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis | Level 3 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1,996		1,996		2,404
Other bond securities	0		0		0
Recurring Basis | Level 3 | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	4		4		8
Other bond securities	0		0		0
Recurring Basis | Level 3 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	942		942		1,173
Other bond securities	0		0		18
Recurring Basis | Level 3 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	14,861		14,861		16,136
Other bond securities	1,349		1,349		1,464
Recurring Basis | Level 3 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	701		701		624
Other bond securities	73		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	8,832		8,832		8,651
Other bond securities	4,458		4,458		4,956
Recurring Basis | Level 3 | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					0
Recurring Basis | Level 3 | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					0
Recurring Basis | Level 3 | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					0
Recurring Basis | Counterparty Netting
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Counterparty netting	(1,874)		(1,874)		(1,464)
Fair value assets measured on recurring basis, total	(1,874)		(1,874)		(1,464)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Counterparty netting	(1,874)		(1,874)		(1,464)
Fair value liabilities measured on recurring basis, total	(1,874)		(1,874)		(1,464)
Recurring Basis | Counterparty Netting | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Counterparty netting	(1,874)		(1,874)		(1,464)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Counterparty netting	(1,874)		(1,874)		(1,464)
Recurring Basis | Cash Collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Cash collateral	(964)		(964)		(1,159)
Fair value assets measured on recurring basis, total	(964)		(964)		(1,159)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Cash collateral	(290)		(290)		(1,249)
Fair value liabilities measured on recurring basis, total	(290)		(290)		(1,249)
Recurring Basis | Cash Collateral | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Cash collateral	(964)		(964)		(1,159)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Cash collateral	(290)		(290)		(1,249)
Recurring Basis | Total Fair Value
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	232,720		232,720		238,992
Other bond securities	11,420		11,420		12,772
Equity securities available for sale					1,708
Other equity securities	1,443		1,443		589
Mortgage and other loans receivable	0		0		5
Other invested assets	1,001		1,001		251
Derivative Assets, Fair Value	950		950		922
Short-term investments, portion measured at fair value	3,633		3,633		2,615
Separate account assets, at fair value	93,045		93,045		92,798
Fair value assets measured on recurring basis, total	344,212		344,212		350,652
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	3,376		3,376		4,150
Derivative Liabilities, Fair Value	1,302		1,302		1,035
Long-term debt, portion measured at fair value	2,311		2,311		2,888
Other liabilities	189		189		89
Fair value liabilities measured on recurring basis, total	7,178		7,178		8,162
Recurring Basis | Total Fair Value | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	2,505		2,505		2,171
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	2,119		2,119		2,200
Recurring Basis | Total Fair Value | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	927		927		831
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,087		1,087		1,245
Recurring Basis | Total Fair Value | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	340		340		522
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	5		5		21
Recurring Basis | Total Fair Value | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	1		1		1
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	252		252		277
Recurring Basis | Total Fair Value | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	15		15		20
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	3		3		5
Recurring Basis | Total Fair Value | Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	(2,838)		(2,838)		(2,623)
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	(2,164)		(2,164)		(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	3,093		3,093		2,656
Other bond securities	2,634		2,634		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	16,512		16,512		18,644
Other bond securities	0		0		0
Recurring Basis | Total Fair Value | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,219		15,219		15,659
Other bond securities	49		49		57
Recurring Basis | Total Fair Value | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	131,884		131,884		134,176
Other bond securities	1,707		1,707		1,909
Recurring Basis | Total Fair Value | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	35,226		35,226		37,234
Other bond securities	1,660		1,660		1,885
Recurring Basis | Total Fair Value | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	12,691		12,691		13,841
Other bond securities	401		401		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	18,095		18,095		16,782
Other bond securities	$ 4,969		$ 4,969		5,560
Recurring Basis | Total Fair Value | Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					1,061
Recurring Basis | Total Fair Value | Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					533
Recurring Basis | Total Fair Value | Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale					$ 114

FAIR VALUE MEASUREMENTS (Deta_2

FAIR VALUE MEASUREMENTS (Details - Changes in Level 3 Recurring Fair Value Measurements) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	$ 32,245	$ 36,037	$ 35,763	$ 37,666
Net Realized and Unrealized Gains (Losses) Included in Income	342	442	1,020	1,473
Other Comprehensive Income (Loss)	(88)	526	(299)	1,293
Purchases, Sales, Issues and Settlements, Net	(766)	(1,534)	(3,451)	(4,038)
Gross Transfers in, assets	1,817	460	2,441	682
Gross Transfers out, assets	(91)	(217)	(2,015)	(1,362)
Acquisition	180		180
Balance End of Period	33,639	35,714	33,639	35,714
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(39)	15	382	215
Liabilities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	3,710	3,830	4,323	3,413
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(281)	250	(1,070)	469
Accumulated Other Comprehensive Income (loss)	0	0		0
Purchases, Sales, Issues and Settlements-Net	85	114	259	315
Gross Transfers in, liabilities	0	0	0	(3)
Gross Transfers out, liabilities	0	0	2	0
Balance at the End of the Period	3,514	4,194	3,514	4,194
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	209	(176)	1,148	(271)
Policyholder contract deposits
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	3,534	3,518	4,136	3,033
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(242)	299	(986)	594
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	84	157	226	347
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	3,376	3,974	3,376	3,974
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	179	(220)	1,081	(405)
Derivative liabilities, net
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	176	251	187	309
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(39)	(51)	(84)	(141)
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	1	17	33	52
Gross Transfers in, liabilities	0	0	0	(3)
Gross Transfers out, liabilities	0	0	2	0
Balance at the End of the Period	138	217	138	217
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	30	40	67	134
Interest rate contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	14	30	22	38
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(1)	(2)	(5)	(3)
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	(1)	(2)	(5)	(9)
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	12	26	12	26
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	1	1	5	3
Foreign exchange contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	5	7	0	11
Net realized and unrealized gains and losses related to Level 3 items, liabilities	2	0	(2)	1
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	(2)	(4)	7	(9)
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	5	3	5	3
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(5)	0	(5)	(1)
Equity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(79)	(63)	(82)	(58)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(12)	(11)	(3)	(26)
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	(12)	5	(20)	15
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	2	0
Balance at the End of the Period	(103)	(69)	(103)	(69)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	10	8	2	22
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		0
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	246	293	262	329
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(9)	(19)	(23)	(55)
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	(1)	(1)	(3)	(1)
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	236	273	236	273
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	10	19	23	53
Other contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(10)	(16)	(15)	(11)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(19)	(19)	(51)	(58)
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	17	19	54	56
Gross Transfers in, liabilities	0	0	0	(3)
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	(12)	(16)	(12)	(16)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	14	12	42	57
Long-term debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	0	61	0	71
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	2	0	16
Accumulated Other Comprehensive Income (loss)	0	0	0	0
Purchases, Sales, Issues and Settlements-Net	0	(60)	0	(84)
Gross Transfers in, liabilities	0	0	0	0
Gross Transfers out, liabilities	0	0	0	0
Balance at the End of the Period	0	3	0	3
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	0	4	0	0
Bonds available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	25,778	28,962	28,996	29,971
Net Realized and Unrealized Gains (Losses) Included in Income	249	265	619	821
Other Comprehensive Income (Loss)	(88)	528	(300)	1,298
Purchases, Sales, Issues and Settlements, Net	(447)	(975)	(2,531)	(2,495)
Gross Transfers in, assets	1,763	460	2,386	682
Gross Transfers out, assets	(91)	(155)	(2,006)	(1,192)
Acquisition	172		172
Balance End of Period	27,336	29,085	27,336	29,085
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	2,056	2,285	2,404	2,040
Net Realized and Unrealized Gains (Losses) Included in Income	0	2	1	3
Other Comprehensive Income (Loss)	(37)	38	(152)	123
Purchases, Sales, Issues and Settlements, Net	(46)	52	(144)	221
Gross Transfers in, assets	54	0	54	8
Gross Transfers out, assets	(31)	(6)	(167)	(24)
Acquisition	0		0
Balance End of Period	1,996	2,371	1,996	2,371
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
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	0	12	8	17
Net Realized and Unrealized Gains (Losses) Included in Income	0	(5)	(5)	(5)
Other Comprehensive Income (Loss)	(1)	4	5	5
Purchases, Sales, Issues and Settlements, Net	1	0	(3)	(6)
Gross Transfers in, assets	4	0	4	0
Gross Transfers out, assets	0	0	(5)	0
Acquisition	0		0
Balance End of Period	4	11	4	11
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	884	932	1,173	1,133
Net Realized and Unrealized Gains (Losses) Included in Income	7	5	(58)	6
Other Comprehensive Income (Loss)	(10)	(2)	(7)	(2)
Purchases, Sales, Issues and Settlements, Net	(28)	(53)	(174)	(219)
Gross Transfers in, assets	133	449	701	655
Gross Transfers out, assets	(44)	(121)	(693)	(363)
Acquisition	0		0
Balance End of Period	942	1,210	942	1,210
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Residential mortgage-backed securities (RMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	15,377	16,393	16,136	16,906
Net Realized and Unrealized Gains (Losses) Included in Income	213	253	632	806
Other Comprehensive Income (Loss)	5	495	5	992
Purchases, Sales, Issues and Settlements, Net	(725)	(731)	(1,877)	(2,270)
Gross Transfers in, assets	0	11	8	19
Gross Transfers out, assets	(16)	(7)	(50)	(39)
Acquisition	7		7
Balance End of Period	14,861	16,414	14,861	16,414
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Commercial mortgage-backed securities (CMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	605	735	624	2,040
Net Realized and Unrealized Gains (Losses) Included in Income	14	2	18	25
Other Comprehensive Income (Loss)	(14)	5	(35)	12
Purchases, Sales, Issues and Settlements, Net	31	(77)	1	(699)
Gross Transfers in, assets	64	0	111	0
Gross Transfers out, assets	0	0	(19)	(713)
Acquisition	1		1
Balance End of Period	701	665	701	665
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	6,856	8,605	8,651	7,835
Net Realized and Unrealized Gains (Losses) Included in Income	15	8	31	(14)
Other Comprehensive Income (Loss)	(31)	(12)	(116)	168
Purchases, Sales, Issues and Settlements, Net	320	(166)	(334)	478
Gross Transfers in, assets	1,508	0	1,508	0
Gross Transfers out, assets	0	(21)	(1,072)	(53)
Acquisition	164		164
Balance End of Period	8,832	8,414	8,832	8,414
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Other bond securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	6,068	6,838	6,512	7,480
Net Realized and Unrealized Gains (Losses) Included in Income	92	177	351	649
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(342)	(593)	(1,037)	(1,601)
Gross Transfers in, assets	54	0	55	0
Gross Transfers out, assets	0	(62)	(9)	(168)
Acquisition	8		8
Balance End of Period	5,880	6,360	5,880	6,360
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(39)	18	326	214
Other bond securities | Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	18	28	18	17
Net Realized and Unrealized Gains (Losses) Included in Income	0	1	0	2
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(18)	0	(18)	10
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	0	(11)	0	(11)
Acquisition	0		0
Balance End of Period	0	18	0	18
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(2)	0	(1)	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	1,338	1,510	1,464	1,605
Net Realized and Unrealized Gains (Losses) Included in Income	18	63	73	184
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(57)	(130)	(238)	(313)
Gross Transfers in, assets	50	0	50	0
Gross Transfers out, assets	0	0	0	(33)
Acquisition	0		0
Balance End of Period	1,349	1,443	1,349	1,443
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(29)	49	124	116
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	71	66	74	155
Net Realized and Unrealized Gains (Losses) Included in Income	(2)	2	(5)	4
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	0	42	(1)	24
Gross Transfers in, assets	4	0	5	0
Gross Transfers out, assets	0	(45)	0	(118)
Acquisition	0		0
Balance End of Period	73	65	73	65
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(2)	3	2	6
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	4,641	5,234	4,956	5,703
Net Realized and Unrealized Gains (Losses) Included in Income	76	111	283	459
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	(267)	(505)	(780)	(1,322)
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	0	(6)	(9)	(6)
Acquisition	8		8
Balance End of Period	4,458	4,834	4,458	4,834
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(6)	(34)	201	91
Equity securities available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period		7		0
Net Realized and Unrealized Gains (Losses) Included in Income		0		0
Other Comprehensive Income (Loss)		0		0
Purchases, Sales, Issues and Settlements, Net		(2)		6
Gross Transfers in, assets		0		0
Gross Transfers out, assets		0		(1)
Balance End of Period		5		5
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets		0		0
Equity securities available for sale | Common Stock
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period		7		0
Net Realized and Unrealized Gains (Losses) Included in Income		0		0
Other Comprehensive Income (Loss)		0		0
Purchases, Sales, Issues and Settlements, Net		(2)		6
Gross Transfers in, assets		0		0
Gross Transfers out, assets		0		(1)
Acquisition		0		0
Balance End of Period		5		5
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets		0		0
Other equity securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0		0
Net Realized and Unrealized Gains (Losses) Included in Income	1		(2)	0
Other Comprehensive Income (Loss)	0		0
Purchases, Sales, Issues and Settlements, Net	24	0	27	0
Gross Transfers in, assets	0		0
Gross Transfers out, assets	0		0
Acquisition	0		0
Balance End of Period	25		25
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0		0
Mortgage and other loans receivable
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	5	5	11
Net Realized and Unrealized Gains (Losses) Included in Income	0	0	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issues and Settlements, Net	0	0	(5)	(6)
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	0	0	0	0
Acquisition	0		0
Balance End of Period	0	5	0	5
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Other invested assets
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	399	225	250	204
Net Realized and Unrealized Gains (Losses) Included in Income	0	0	52	3
Other Comprehensive Income (Loss)	0	(2)	1	(5)
Purchases, Sales, Issues and Settlements, Net	(1)	36	95	58
Gross Transfers in, assets	0	0	0	0
Gross Transfers out, assets	0	0	0	(1)
Acquisition	0		0
Balance End of Period	398	259	398	259
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	$ 0	$ (3)	$ 56	$ 1

FAIR VALUE MEASUREMENTS (Deta_3

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 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	$ 342	$ 442	$ 1,020	$ 1,473
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	(242)	299	(986)	594
Policyholder contract deposits | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0	0	0
Policyholder contract deposits | Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(242)	299	(986)	594
Policyholder contract deposits | Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0	0	0
Derivative liabilities, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(39)	(51)	(84)	(141)
Derivative liabilities, net | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0	0	0
Derivative liabilities, net | Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(1)	(5)	(3)	(13)
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	(38)	(46)	(81)	(128)
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	2	0	16
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	2	0	16
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	249	265	619	821
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	249	257	731	849
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	0	8	(112)	(28)
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	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	92	177	351	649
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	35	87	92	259
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	1	(2)	(3)	0
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	56	92	262	390
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	1		(2)	0
Other equity securities | Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	1		(2)
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	0	0	52	3
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	0	2	57	5
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	1	0	(1)
Other invested assets | Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	$ 0	$ (3)	$ (5)	$ (1)

FAIR VALUE MEASUREMENTS (Deta_4

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issues and settlements) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, Sales, Issues and Settlements, Net, assets	$ (766)	$ (1,534)	$ (3,451)	$ (4,038)
Transfers into Level 3 at end of reporting period, net gains (losses) not included in realized and unrealized gains and losses related to Level 3 for the period	17	(49)	41	(57)
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.	2	(32)	(20)	(38)
Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	(18)	0	(37)	0
Sales, liabilities	148	79	391	231
Settlements, liabilities	(45)	35	(95)	84
Purchases, Sales, Issues and Settlements, Net, liabilities	85	114	259	315
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	0	0	0	0
Sales, liabilities	148	79	391	231
Settlements, liabilities	(64)	78	(165)	116
Purchases, Sales, Issues and Settlements, Net, liabilities	84	157	226	347
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	(18)	0	(37)	0
Sales, liabilities	0	0	0	0
Settlements, liabilities	19	17	70	52
Purchases, Sales, Issues and Settlements, Net, liabilities	1	17	33	52
Long-term debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Settlements, liabilities	0	(60)	0	(84)
Purchases, Sales, Issues and Settlements, Net, liabilities	0	(60)	0	(84)
Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	624	757	2,551	3,070
Sales, assets	(61)	(291)	(1,272)	(911)
Settlements, assets	(1,329)	(2,000)	(4,730)	(6,197)
Purchases, Sales, Issues and Settlements, Net, assets	(766)	(1,534)	(3,451)	(4,038)
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	600	665	2,370	2,804
Sales, assets	(61)	(174)	(1,200)	(600)
Settlements, assets	(986)	(1,466)	(3,701)	(4,699)
Purchases, Sales, Issues and Settlements, Net, assets	(447)	(975)	(2,531)	(2,495)
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	0	56	24	279
Sales, assets	(8)	0	(8)	(16)
Settlements, assets	(38)	(4)	(160)	(42)
Purchases, Sales, Issues and Settlements, Net, assets	(46)	52	(144)	221
Bonds available for sale | Non-U.S. governments
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	7	2	7
Sales, assets	0	0	0	(1)
Settlements, assets	1	(7)	(5)	(12)
Purchases, Sales, Issues and Settlements, Net, assets	1	0	(3)	(6)
Bonds available for sale | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	25	6	280	36
Sales, assets	0	(5)	(216)	(59)
Settlements, assets	(53)	(54)	(238)	(196)
Purchases, Sales, Issues and Settlements, Net, assets	(28)	(53)	(174)	(219)
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	123	194	630	834
Sales, assets	(2)	(16)	(12)	(260)
Settlements, assets	(846)	(909)	(2,495)	(2,844)
Purchases, Sales, Issues and Settlements, Net, assets	(725)	(731)	(1,877)	(2,270)
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	58	0	70	39
Sales, assets	(2)	(17)	(2)	(128)
Settlements, assets	(25)	(60)	(67)	(610)
Purchases, Sales, Issues and Settlements, Net, assets	31	(77)	1	(699)
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	394	402	1,364	1,609
Sales, assets	(49)	(136)	(962)	(136)
Settlements, assets	(25)	(432)	(736)	(995)
Purchases, Sales, Issues and Settlements, Net, assets	320	(166)	(334)	478
Other bond securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	42	1	165
Sales, assets	0	(108)	(38)	(294)
Settlements, assets	(342)	(527)	(1,000)	(1,472)
Purchases, Sales, Issues and Settlements, Net, assets	(342)	(593)	(1,037)	(1,601)
Other bond securities | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0	0	11
Sales, assets	0			0
Settlements, assets	(18)	0	(18)	(1)
Purchases, Sales, Issues and Settlements, Net, assets	(18)	0	(18)	10
Other bond securities | Residential mortgage-backed securities (RMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0	1	112
Sales, assets	0	(51)	(34)	(218)
Settlements, assets	(57)	(79)	(205)	(207)
Purchases, Sales, Issues and Settlements, Net, assets	(57)	(130)	(238)	(313)
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	42	0	42
Sales, assets	0	0	0	(11)
Settlements, assets	0	0	(1)	(7)
Purchases, Sales, Issues and Settlements, Net, assets	0	42	(1)	24
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	0	0
Sales, assets	0	(57)	(4)	(65)
Settlements, assets	(267)	(448)	(776)	(1,257)
Purchases, Sales, Issues and Settlements, Net, assets	(267)	(505)	(780)	(1,322)
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	4	0	12
Sales, assets	0	0	0	0
Settlements, assets	0	(6)	0	(6)
Purchases, Sales, Issues and Settlements, Net, assets		(2)		6
Other equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	24		27	0
Settlements, assets	0	0	0	0
Purchases, Sales, Issues and Settlements, Net, assets	24	0	27	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		0	(5)	(6)
Settlements, assets		0	0	0
Purchases, Sales, Issues and Settlements, Net, assets	0	0	(5)	(6)
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	46	153	89
Sales, assets	0	(9)	(29)	(11)
Settlements, assets	(1)	(1)	(29)	(20)
Purchases, Sales, Issues and Settlements, Net, assets	$ (1)	$ 36	$ 95	$ 58

FAIR VALUE MEASUREMENTS (Deta_5

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Assets) $ in Millions	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Corporate debt | Minimum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0355	0.0326
Corporate debt | Maximum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.1526	0.1222
Corporate debt | Weighted-average | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.094	0.0774
Corporate debt | Discounted cash flow | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 727	$ 1,086
Residential mortgage-backed securities | Minimum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0317	0.0273
Residential mortgage-backed securities | Minimum | Measurement Input Constant Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0451	0.0397
Residential mortgage-backed securities | Minimum | Measurement Input Loss Severity [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.3983	0.4315
Residential mortgage-backed securities | Minimum | Measurement Input Constant Default Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0269	0.0331
Residential mortgage-backed securities | Maximum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0538	0.0519
Residential mortgage-backed securities | Maximum | Measurement Input Constant Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.1302	0.1342
Residential mortgage-backed securities | Maximum | Measurement Input Loss Severity [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.7369	0.7715
Residential mortgage-backed securities | Maximum | Measurement Input Constant Default Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0758	0.083
Residential mortgage-backed securities | Weighted-average | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0428	0.0396
Residential mortgage-backed securities | Weighted-average | Measurement Input Constant Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0876	0.0869
Residential mortgage-backed securities | Weighted-average | Measurement Input Loss Severity [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.5676	0.6015
Residential mortgage-backed securities | Weighted-average | Measurement Input Constant Default Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0514	0.058
Residential mortgage-backed securities | Discounted cash flow | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 14,257	$ 16,156
Certain CDO/ABS | Minimum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0409	0.0338
Certain CDO/ABS | Maximum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0538	0.0478
Certain CDO/ABS | Weighted-average | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0474	0.0408
Certain CDO/ABS | Discounted cash flow | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 4,792	$ 5,254
Commercial mortgage backed securities | Minimum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0309	0.0222
Commercial mortgage backed securities | Maximum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.072	0.0777
Commercial mortgage backed securities | Weighted-average | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0515	0.0499
Commercial mortgage backed securities | Discounted cash flow | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 461	$ 487
Obligations of states, municipalities and political subdivisions | Minimum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0404	0.0355
Obligations of states, municipalities and political subdivisions | Maximum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0481	0.0432
Obligations of states, municipalities and political subdivisions | Weighted-average | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0442	0.0394
Obligations of states, municipalities and political subdivisions | Discounted cash flow | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,439	$ 1,620

FAIR VALUE MEASUREMENTS (Deta_6

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Liabilities) $ in Millions	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)
GMWB | Minimum | Measurement Input Equity Volatility [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.0615	0.0645
GMWB | Minimum | Measurement Input Base Lapse Rates [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.0016	0.0035
GMWB | Minimum | Measurement Input Dynamic Lapse Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.2	0.3
GMWB | Minimum | Measurement Input Mortality Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.4	0.4
GMWB | Minimum | Measurement Input Utilization Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.9	0.9
GMWB | Minimum | Measurement Input Equity Interest Rate Correlation [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.2	0.2
GMWB | Maximum | Measurement Input Equity Volatility [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.4835	0.5125
GMWB | Maximum | Measurement Input Base Lapse Rates [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.126	0.14
GMWB | Maximum | Measurement Input Dynamic Lapse Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	1.8	1.7
GMWB | Maximum | Measurement Input Mortality Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	1.53	1.53
GMWB | Maximum | Measurement Input Utilization Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	1	1
GMWB | Maximum | Measurement Input Equity Interest Rate Correlation [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.4	0.4
GMWB | Discounted cash flow | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 1,046	$ 1,994
Index Annuities | Minimum | Measurement Input Mortality Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.42	0.42
Index Annuities | Minimum | Measurement Input Lapse Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.005	0.005
Index Annuities | Minimum | Measurement Input Options Budget [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.01	0.01
Index Annuities | Maximum | Measurement Input Mortality Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	1.62	1.62
Index Annuities | Maximum | Measurement Input Lapse Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.4	0.4
Index Annuities | Maximum | Measurement Input Options Budget [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.03	0.04
Index Annuities | Discounted cash flow | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 1,890	$ 1,603
Index Life | Minimum | Measurement Input Base Lapse Rates [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0	0.02
Index Life | Minimum | Measurement Input Mortality Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0	0
Index Life | Maximum | Measurement Input Base Lapse Rates [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.13	0.19
Index Life | Maximum | Measurement Input Mortality Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	1	0.4
Index Life | Discounted cash flow | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 414	$ 515

FAIR VALUE MEASUREMENTS (Deta_7

FAIR VALUE MEASUREMENTS (Details - Investments in certain other invested assets, including private equity funds, hedge funds and other alternative investments) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 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	$ 5,143	$ 5,997
Unfunded Commitments	1,318	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	2,137	2,128
Unfunded Commitments	$ 1,309	1,227
Average original expected lives	10 years
Direct private equity | Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives, Increments	2 years
Direct private equity | Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives, Increments	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	17.00%
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	40.00%
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	43.00%
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	$ 700	1,243
Unfunded Commitments	646	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	185	210
Unfunded Commitments	84	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	102	134
Unfunded Commitments	113	73
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	624	155
Unfunded Commitments	324	53
Growth 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	306	215
Unfunded Commitments	35	73
Mezzanine
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	220	171
Unfunded Commitments	107	135
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	3,006	3,869
Unfunded Commitments	$ 9	12
Hedge fund investments redeemable monthly (as a percent)	34.00%
Hedge fund investments redeemable quarterly (as a percent)	34.00%
Hedge fund investments redeemable semi-annually (as a percent)	9.00%
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	52.00%
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	$ 888	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	993	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	871	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	44	266
Unfunded Commitments	8	8
Emerging markets
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
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	210	231
Unfunded Commitments	$ 1	$ 4

FAIR VALUE MEASUREMENTS (Deta_8

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option gain (loss)	$ 259	$ 400	$ 703	$ 1,427
Fair value option credit risk gains (losses) on liabilities	0	2	1	2
Fair Value Option | Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option gain (loss)	6	(18)	74	(66)
Fair Value Option | Other liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option gain (loss)	0	(1)	0	(2)
Fair Value Option | Bond and equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option gain (loss)	122	289	274	1,088
Fair Value Option | Alternative investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option gain (loss)	131	129	355	406
Fair Value Option | Other, Including Short Term Investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option gain (loss)	$ 0	$ 1	$ 0	$ 1

FAIR VALUE MEASUREMENTS (Deta_9

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	Sep. 30, 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	42,257	37,345
Mortgage and other loans receivable, Difference	42,257	37,345
Long-term debt, Fair Value	2,311	2,888
Long-term debt, Outstanding Principal Amount	34,594	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	2,311	2,888
Long-term debt, Outstanding Principal Amount	1,798	2,280
Long-term debt, Difference	$ 513	$ 608

FAIR VALUE MEASUREMENTS (Det_10

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	$ 34	$ 299	$ 124	$ 471
Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	0	26	89	76
Investments in life settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	0	273	0	360
Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	34	0	35	35
Level 1 | Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	0		0		$ 0
Level 1 | Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	0		0		0
Level 1 | Investments in life settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	0		0		0
Level 1 | Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	0		0		0
Level 2 | Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	0		0		0
Level 2 | Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	0		0		0
Level 2 | Investments in life settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	0		0		0
Level 2 | Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	0		0		0
Level 3 | Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	346		346		55
Level 3 | Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	344		344		55
Level 3 | Investments in life settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	0		0		0
Level 3 | Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	2		2		0
Total Fair Value | Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	346		346		55
Total Fair Value | Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	344		344		55
Total Fair Value | Investments in life settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	0		0		0
Total Fair Value | Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	$ 2		$ 2		$ 0
Total Fair Value | Other assets | Divested Businesses
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value		$ 179		$ 179

FAIR VALUE MEASUREMENTS (Det_11

FAIR VALUE MEASUREMENTS (Details - Carrying values and estimated fair values of our financial instruments not measured at fair value) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Assets:
Mortgage and other loans receivable	$ 41,878	$ 37,023
Short-term investments	8,863	10,386
Cash	2,741	2,362	$ 2,433
Liabilities:
Other liabilities	26,653	26,050
Long-term Debt	34,594	31,640
Total Fair Value
Assets:
Mortgage and other loans receivable	41,168	37,761
Other invested assets	777	596
Short-term investments	5,230	7,771
Cash	2,741	2,362
Liabilities:
Policyholder contract deposits associated with investment-type contracts	122,836	122,196
Other liabilities	1,466	4,494
Long-term Debt	32,368	28,243
Level 1
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	2,741	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	108	117
Other invested assets	771	590
Short-term investments	5,230	7,771
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	349	387
Other liabilities	1,465	4,494
Long-term Debt	24,147	23,930
Level 3
Assets:
Mortgage and other loans receivable	41,060	37,644
Other invested assets	6	6
Short-term investments	0	0
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	122,487	121,809
Other liabilities	1	0
Long-term Debt	8,221	4,313
Carrying Value
Assets:
Mortgage and other loans receivable	41,878	37,018
Other invested assets	773	593
Short-term investments	5,230	7,771
Cash	2,741	2,362
Liabilities:
Policyholder contract deposits associated with investment-type contracts	119,493	114,326
Other liabilities	1,466	4,494
Long-term Debt	$ 32,283	$ 28,752

INVESTMENTS (Details - Amortize

INVESTMENTS (Details - Amortized cost or cost and fair value of Available for sale securities) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 228,047	$ 226,766
Available for sale securities, Gross Unrealized Gains	8,845	15,315
Available for sale securities, Gross Unrealized Losses	(4,172)	(1,381)
Available-for-sale Securities	232,720	240,700
Total, Other-Than-Temporary Impairments in AOCI		0
AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,368	1,656
Common Stock
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI		0
Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI		0
Mutual Funds
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI		0
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	228,047	225,461
Available for sale securities, Gross Unrealized Gains	8,845	14,891
Available for sale securities, Gross Unrealized Losses	(4,172)	(1,360)
Available-for-sale Securities	232,720	238,992
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	30,600	31,500
Bonds available for sale | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,368	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	3,069	2,532
Available for sale securities, Gross Unrealized Gains	101	160
Available for sale securities, Gross Unrealized Losses	(77)	(36)
Available-for-sale Securities	3,093	2,656
Bonds available for sale | U.S. government and government sponsored entities | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	16,030	17,377
Available for sale securities, Gross Unrealized Gains	632	1,297
Available for sale securities, Gross Unrealized Losses	(150)	(30)
Available-for-sale Securities	16,512	18,644
Bonds available for sale | Obligations of states, municipalities and political subdivisions | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	4	0
Bonds available for sale | Non-U.S. governments
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	15,021	15,059
Available for sale securities, Gross Unrealized Gains	478	717
Available for sale securities, Gross Unrealized Losses	(280)	(117)
Available-for-sale Securities	15,219	15,659
Bonds available for sale | Non-U.S. governments | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale | Corporate debt
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	130,263	126,310
Available for sale securities, Gross Unrealized Gains	4,302	8,666
Available for sale securities, Gross Unrealized Losses	(2,681)	(800)
Available-for-sale Securities	131,884	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	(11)	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	63,664	64,183
Available for sale securities, Gross Unrealized Gains	3,332	4,051
Available for sale securities, Gross Unrealized Losses	(984)	(377)
Available-for-sale Securities	66,012	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	1,375	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	32,825	34,181
Available for sale securities, Gross Unrealized Gains	2,961	3,273
Available for sale securities, Gross Unrealized Losses	(560)	(220)
Available-for-sale Securities	35,226	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	1,330	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	12,821	13,538
Available for sale securities, Gross Unrealized Gains	182	408
Available for sale securities, Gross Unrealized Losses	(312)	(105)
Available-for-sale Securities	12,691	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	28	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	18,018	16,464
Available for sale securities, Gross Unrealized Gains	189	370
Available for sale securities, Gross Unrealized Losses	(112)	(52)
Available-for-sale Securities	18,095	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	17	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	Sep. 30, 2018USD ($)item	Dec. 31, 2017USD ($)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 83,025	$ 31,657
Gross Unrealized Losses, Less than 12 Months	2,748	726
Fair Value, 12 Months or More	21,250	15,127
Gross Unrealized Losses, 12 Months or More	1,424	655
Fair Value, Total	104,275	46,784
Gross Unrealized Losses, Total	4,172	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	83,025	31,520
Gross Unrealized Losses, Less than 12 Months	2,748	705
Fair Value, 12 Months or More	21,250	15,127
Gross Unrealized Losses, 12 Months or More	1,424	655
Fair Value, Total	104,275	46,647
Gross Unrealized Losses, Total	$ 4,172	1,360
Number of securities in an unrealized loss position | item	16,950
Number of individual securities in continuous unrealized loss position for longer than twelve months | item	3,008
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	$ 1,406	770
Gross Unrealized Losses, Less than 12 Months	61	23
Fair Value, 12 Months or More	364	332
Gross Unrealized Losses, 12 Months or More	16	13
Fair Value, Total	1,770	1,102
Gross Unrealized Losses, Total	77	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	3,475	586
Gross Unrealized Losses, Less than 12 Months	98	6
Fair Value, 12 Months or More	743	646
Gross Unrealized Losses, 12 Months or More	52	24
Fair Value, Total	4,218	1,232
Gross Unrealized Losses, Total	150	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	5,079	3,511
Gross Unrealized Losses, Less than 12 Months	172	54
Fair Value, 12 Months or More	1,821	857
Gross Unrealized Losses, 12 Months or More	108	63
Fair Value, Total	6,900	4,368
Gross Unrealized Losses, Total	280	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	52,590	15,578
Gross Unrealized Losses, Less than 12 Months	1,947	453
Fair Value, 12 Months or More	9,929	7,291
Gross Unrealized Losses, 12 Months or More	734	347
Fair Value, Total	62,519	22,869
Gross Unrealized Losses, Total	2,681	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	7,930	6,212
Gross Unrealized Losses, Less than 12 Months	245	99
Fair Value, 12 Months or More	4,706	3,790
Gross Unrealized Losses, 12 Months or More	315	121
Fair Value, Total	12,636	10,002
Gross Unrealized Losses, Total	560	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	5,062	3,408
Gross Unrealized Losses, Less than 12 Months	146	46
Fair Value, 12 Months or More	2,626	1,389
Gross Unrealized Losses, 12 Months or More	166	59
Fair Value, Total	7,688	4,797
Gross Unrealized Losses, Total	312	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	7,483	1,455
Gross Unrealized Losses, Less than 12 Months	79	24
Fair Value, 12 Months or More	1,061	822
Gross Unrealized Losses, 12 Months or More	33	28
Fair Value, Total	8,544	2,277
Gross Unrealized Losses, Total	112	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
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 - Amorti_2

INVESTMENTS (Details - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 228,047	$ 226,766
Fixed Maturity Securities Available for Sale, Fair Value, Total	232,720	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	2,043	1,526
Due after one year through five years, Amortized Cost	16,406	7,764
Due after five years through ten years, Amortized Cost	26,927	11,559
Due after ten years, Amortized Cost	33,219	9,705
Mortgage-backed, asset-backed and collateralized, Amortized Cost	29,852	17,453
Available for sale securities, Amortized Cost, Total	108,447	48,007
Due in one year or less, Fair Value	2,032	1,515
Due after one year through five years, Fair Value	16,042	7,571
Due after five years through ten years, Fair Value	25,844	11,143
Due after ten years, Fair Value	31,489	9,342
Mortgage-backed, asset-backed and collateralized, Fair Value	28,868	17,076
Fixed Maturity Securities Available for Sale, Fair Value, Total	104,275	46,647
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	8,421	7,932
Due after one year through five years, Amortized Cost	48,626	47,179
Due after five years through ten years, Amortized Cost	42,674	42,617
Due after ten years, Amortized Cost	64,662	63,550
Mortgage-backed, asset-backed and collateralized, Amortized Cost	63,664	64,183
Available for sale securities, Amortized Cost, Total	228,047	225,461
Due in one year or less, Fair Value	8,559	8,071
Due after one year through five years, Fair Value	49,416	49,093
Due after five years through ten years, Fair Value	42,475	43,944
Due after ten years, Fair Value	66,258	70,027
Mortgage-backed, asset-backed and collateralized, Fair Value	66,012	67,857
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 232,720	$ 238,992

INVESTMENTS (Details - Realized

INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	$ 82	$ 99	$ 268	$ 743
Gross Realized Losses	71	41	244	283
Aggregate fair value of available for sale securities sold	6,000	4,400	18,100	27,800
Net realized capital gains (losses)	11	58	24	460
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	82	93	252	637
Gross Realized Losses	71	39	244	263
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	0	6	16	106
Gross Realized Losses	$ 0	$ 2	$ 0	$ 20

INVESTMENTS (Details - Value of

INVESTMENTS (Details - Value of other securities measured at fair value based on election of the fair value option) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 12,863	$ 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	$ 186	$ 251
Fixed maturity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 11,420	$ 12,772
Other Securities, Percent of Total	89.00%	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	$ 2,634	$ 2,802
Other Securities, Percent of Total	21.00%	21.00%
Fixed maturity securities | Non-U.S. governments
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 49	$ 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	$ 1,707	$ 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	$ 7,030	$ 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	$ 1,660	$ 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	$ 401	$ 559
Other Securities, Percent of Total	3.00%	4.00%
Fixed maturity securities | Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 4,969	$ 5,560
Other Securities, Percent of Total	39.00%	42.00%
Equity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,443	$ 589
Other Securities, Percent of Total	11.00%	4.00%

INVESTMENTS (Details - Carrying

INVESTMENTS (Details - Carrying values of other invested assets) - USD ($) $ in Millions	96 Months Ended
	Dec. 31, 2027	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Investment [Line Items]
Other invested assets				$ 19,739	$ 20,822
Hedge Funds
Investment [Line Items]
Hedge Fund Fair Value Redemption, Percentage		21.00%	52.00%
Hedge Fund Fair Value Redemption, Additional Percentage	27.00%
Alternative investments
Investment [Line Items]
Other invested assets				9,655	11,308
Alternative investments | Hedge Funds
Investment [Line Items]
Other invested assets				4,600	5,800
Alternative investments | Direct private equity
Investment [Line Items]
Other invested assets				4,600	5,000
Alternative investments | Affordable Housing Partnerships
Investment [Line Items]
Other invested assets				434	543
Investment real estate
Investment [Line Items]
Other invested assets				8,819	8,258
Net of accumulated depreciation on investment in real estate				553	515
All other investments
Investment [Line Items]
Other invested assets				$ 1,265	$ 1,256

INVESTMENTS (Details - Componen

INVESTMENTS (Details - Components of Net investment income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Investment [Line Items]
Total investment income	$ 3,511	$ 3,552	$ 10,087	$ 11,105
Investment expenses	115	136	365	390
Net investment income	3,396	3,416	9,722	10,715
Fixed maturity securities, including short-term investments
Investment [Line Items]
Total investment income	2,629	2,552	7,775	7,826
Other fixed maturity securities
Investment [Line Items]
Total investment income	60	145	29	500
Equity securities
Investment [Line Items]
Total investment income	(21)	5	(50)	22
Interest on mortgage and other loans
Investment [Line Items]
Total investment income	455	414	1,352	1,206
Alternative investments
Investment [Line Items]
Total investment income	329	355	837	1,174
Real estate
Investment [Line Items]
Total investment income	72	51	133	131
Other investments
Investment [Line Items]
Total investment income	$ (13)	$ 30	$ 11	$ 246

INVESTMENTS (Details - Compon_2

INVESTMENTS (Details - Components of Net realized capital gains (losses)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Other-than-temporary impairments:
Severity	$ 0	$ 0	$ 0	$ (2)
Change in intent	(3)	(1)	(52)	(9)
Foreign currency declines	(1)	(1)	(13)	(11)
Issuer-specific credit events	(30)	(85)	(92)	(197)
Adverse projected cash flows	(1)	(1)	(1)	(4)
Provision for loan losses	(23)	(38)	(73)	(56)
Foreign exchange transactions	(21)	66	(155)	299
Variable annuity embedded derivatives, net of related hedges	(185)	(430)	(2)	(1,023)
All other derivatives and hedge accounting	(1)	(136)	149	(217)
Impairments on investments in life settlements	0	(273)	0	(360)
Loss on sale of private equity funds	(311)	0	(311)	0
Other	54	(81)	161	14
Total net realized capital losses	(511)	(922)	(365)	(1,106)
Net realized capital gains (losses)	(511)	(922)	(365)	(1,106)
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	11	54	8	374
Equity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	$ 0	$ 4	$ 16	$ 86

INVESTMENTS (Details - Increase

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (951)	$ 1,078	$ (8,917)	$ 4,257
Unrealized gains and losses recognized during the reporting period on equity securities
Net gains and losses recognized securities during the period on equity securities	170		456
Less: Net gains and losses recognized during the period on equity securities sold during the period	46		79
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	124		377
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(920)	1,059	(8,858)	4,332
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	0	9	0	52
Unrealized gains and losses recognized during the reporting period on equity securities
Net gains and losses recognized securities during the period on equity securities	(13)		(41)
Less: Net gains and losses recognized during the period on equity securities sold during the period	28		34
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	(41)		(75)
Other investments
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(31)	$ 10	(59)	$ (127)
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	183		497
Less: Net gains and losses recognized during the period on equity securities sold during the period	18		45
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	$ 165		$ 452

INVESTMENTS (Details - Rollforw

INVESTMENTS (Details - Rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings) - Fixed maturity securities - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 188	$ 762	$ 526	$ 1,098
Increases due to:
Credit impairments on new securities subject to impairment losses	15	58	32	116
Additional credit impairments on previously impaired securities	16	12	61	49
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(12)	(44)	(143)	(99)
Accretion on securities previously impaired due to credit	(164)	(147)	(433)	(523)
Balance, end of year	$ 43	$ 641	$ 43	$ 641

INVESTMENTS (Details - Purchase

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 228,047		$ 228,047		$ 225,461
Fair value	232,720		232,720		240,700
Purchased Credit Impaired (PCI) Securities
Schedule of Available-for-sale Securities [Line Items]
Contractually required payments (principal and interest)	36,640		36,640
Cash flows expected to be collected	30,077		30,077
Recorded investment in acquired securities	20,294		20,294
Outstanding principal balance	13,060		13,060		14,718
Amortized cost	9,087		9,087		10,492
Fair value	10,941		10,941		$ 12,293
Available for sale securities | Purchased Credit Impaired (PCI) Securities
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of period	7,461	$ 7,465	7,501	$ 7,498
Newly purchased PCI securities	5	16	32	117
Disposals	0	0	0	(18)
Accretion	(176)	(193)	(553)	(609)
Effect of changes in interest rate indices	15	(74)	189	(188)
Net reclassification from (to) non-accretable difference, including effects of prepayments	93	172	229	586
Balance, end of period	$ 7,398	$ 7,386	$ 7,398	$ 7,386

INVESTMENTS (Details - Pledged

INVESTMENTS (Details - Pledged Investments) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Investment [Line Items]
Fair value of securities collateral pledged	$ 1,324	$ 2,227
Fair value of amount sold or repledged	164	46
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	7,900	4,900
Securities Lending Agreements, Fair Value of Collateral	1,057	2,915
Short-term investments held in escrow	155	255
Overnight and continuous
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	0
Up to 30 Days
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	378	588
31 to 90 Days
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	549	2,327
91 to 364 Days
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	130	0
365 Days or Greater
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	0
FHLBs
Investment [Line Items]
Fair value of fixed maturities securities available for sale	4,200	2,700
Amount owned by subsidiaries	205	93
Residential loans pledged as collateral	2,000	471
Secured financing
Investment [Line Items]
Amounts Borrowed Under Repurchase and Securities Lending Agreements	1,500	4,500
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	326	1,581
Amounts Loaned under Reverse Repurchase Agreements	1,300	2,200
Secured financing | Fixed maturity securities
Investment [Line Items]
Fair value of fixed maturities securities available for sale	1,247	2,911
Fair Value of other bond securities	136	1,585
Secured financing | Overnight and continuous
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	24	44
Secured financing | Up to 30 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	247	407
Secured financing | 31 to 90 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	55	1,130
Secured financing | 91 to 364 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | 365 Days or Greater
Investment [Line Items]
Securities Sold under Agreements to Repurchase, 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	79	26
Securities Lending Agreements, Fair Value of Collateral	104	18
Secured financing | Bonds available for sale | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	111	48
Securities Lending Agreements, Fair Value of Collateral	953	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	79	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	110	13
Securities Lending Agreements, Fair Value of Collateral	378	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	0	19
Securities Lending Agreements, Fair Value of Collateral	82	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	1	35
Securities Lending Agreements, Fair Value of Collateral	467	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	22	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	108	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	0	22
Secured financing | Other bond securities | Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	109	1,452
Securities Lending Agreements, Fair Value of Collateral	0	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	24	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	24	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	3	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	55	387
Securities Lending Agreements, Fair Value of Collateral	0	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	0	11
Securities Lending Agreements, Fair Value of Collateral	0	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	54	1,065
Securities Lending Agreements, Fair Value of Collateral	0	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	0	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	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	$ 1,700	$ 2,000

LENDING ACTIVITIES (Details - C

LENDING ACTIVITIES (Details - Composition of Mortgages and other loans receivable) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 42,257	$ 37,345
Allowance for losses	(379)	(322)	$ (345)	$ (297)
Mortgage and other loans receivable, net	41,878	37,023
Commercial mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	32,082	28,596
Allowance for losses	$ (296)	$ (247)	$ (264)	$ (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	$ 6,530	$ 5,398
Life insurance policy loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	2,178	2,295
Commercial loans, other loans and notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 1,467	$ 1,056

LENDING ACTIVITIES (Details -_2

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgage loans) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018USD ($)loan	Dec. 31, 2017USD ($)loan	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Commercial Mortgage Recorded Investment [Line Items]
Mortgage and other loans receivable, net	$ 41,878	$ 37,023
Allowance for credit losses	379	322	$ 345	$ 297
Total mortgage and other loans receivable	$ 42,257	$ 37,345
Debt Coverage Ratio	1.9	2.1
Average Loan to Value Ratio	58.00%	57.00%
Apartments
Commercial Mortgage Recorded Investment [Line Items]
In good standing	$ 10,393	$ 8,163
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	10,393	8,163
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	106	72
Allowance for credit losses	106	72
Offices
Commercial Mortgage Recorded Investment [Line Items]
In good standing	9,257	8,585
Restructured	113	115
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	9,370	8,700
Allowance for credit losses, Specific	2	3
Allowance for credit losses, General	96	94
Allowance for credit losses	98	97
Retail
Commercial Mortgage Recorded Investment [Line Items]
In good standing	5,333	5,338
Restructured	0	23
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	5,333	5,361
Allowance for credit losses, Specific	0	1
Allowance for credit losses, General	46	37
Allowance for credit losses	46	38
Industrial
Commercial Mortgage Recorded Investment [Line Items]
In good standing	3,002	2,023
Restructured	15	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	3,017	2,023
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	12	6
Allowance for credit losses	12	6
Hotel
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,531	2,373
Restructured	16	16
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	2,547	2,389
Allowance for credit losses, Specific	1	1
Allowance for credit losses, General	19	15
Allowance for credit losses	20	16
Others
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,422	1,960
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	1,422	1,960
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	14	18
Allowance for credit losses	$ 14	$ 18
Commercial mortgages
Commercial Mortgage Recorded Investment [Line Items]
Number of loans in good standing | loan	763	778
Number of loans restructured | loan	4	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	767	783
In good standing	$ 31,938	$ 28,442
Restructured	144	154
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	32,082	28,596
Allowance for credit losses, Specific	3	5
Allowance for credit losses, General	293	242
Allowance for credit losses	$ 296	$ 247
Percentage of loans that are current as to payments of principal and interest	100.00%	99.00%
Percentage restructured	0.00%	1.00%
Percentage 90 days or less delinquent	0.00%	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, General	1.00%	1.00%
Percentage of loans with valuation allowance, Specific	0.00%	0.00%
Percentage of loans with allowance for losses	1.00%	1.00%
Commercial mortgages | Less than 65% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	$ 17,986	$ 18,000
Commercial mortgages | Less than 65% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	2,508	1,525
Commercial mortgages | Less than 65% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	239	351
Commercial mortgages | Less than 65% | Total
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	20,733	19,876
Commercial mortgages | 65% to 75% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	9,115	6,038
Commercial mortgages | 65% to 75% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	302	193
Commercial mortgages | 65% to 75% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	258	184
Commercial mortgages | 65% to 75% | Total
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	9,675	6,415
Commercial mortgages | 76% to 80% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	831	569
Commercial mortgages | 76% to 80% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	8	40
Commercial mortgages | 76% to 80% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	15	0
Commercial mortgages | 76% to 80% | Total
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	854	609
Commercial mortgages | Greater than 80% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	572	1,416
Commercial mortgages | Greater than 80% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	106	206
Commercial mortgages | Greater than 80% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	142	74
Commercial mortgages | Greater than 80% | Total
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	820	1,696
Commercial mortgages | Total | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	28,504	26,023
Commercial mortgages | Total | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	2,924	1,964
Commercial mortgages | Total | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	654	609
Commercial mortgages | Total | Total
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	$ 32,082	$ 28,596

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	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 322	$ 297
Loans charged off	(17)	(7)
Recoveries of loans previously charged off	0	0
Net charge-offs	(17)	(7)
Provision for loan losses	74	55
Other	0	0
Allowance, end of period	379	345
Loans modified in a troubled debt restructuring	15	25
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	247	194
Loans charged off	(17)	(5)
Recoveries of loans previously charged off	0	0
Net charge-offs	(17)	(5)
Provision for loan losses	66	75
Other	0	0
Allowance, end of period	296	264
Allowance related to individually assessed credit losses	3	35
Commercial mortgage loans	25	342
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	75	103
Loans charged off	0	(2)
Recoveries of loans previously charged off	0	0
Net charge-offs	0	(2)
Provision for loan losses	8	(20)
Other	0	0
Allowance, end of period	$ 83	$ 81

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Assets:
Bonds available for sale	$ 232,720	$ 238,992
Other bond securities	11,420	12,772
Mortgage and other loans receivable	41,878	37,023
Other invested assets	19,739	20,822
Liabilities:
Long-term Debt	34,594	31,640
Real Estate and Investment Entities
Liabilities:
Off-balance sheet exposure	227	86
Consolidated VIE
Assets:
Bonds available for sale	8,130	9,632
Other bond securities	4,012	4,521
Mortgage and other loans receivable	3,424	2,290
Other invested assets	4,952	4,683
Other assets	2,217	2,218
Total assets	22,735	23,344
Liabilities:
Long-term Debt	5,570	4,134
Other liabilities	459	595
Total liabilities	6,029	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	1,696	1,365
Other assets	259	302
Total assets	1,955	1,667
Liabilities:
Long-term Debt	785	680
Other liabilities	138	144
Total liabilities	923	824
Consolidated VIE | Securitization Vehicles
Assets:
Bonds available for sale	8,130	9,632
Other bond securities	4,010	4,518
Mortgage and other loans receivable	3,424	2,290
Other invested assets	0	206
Other assets	1,448	1,481
Total assets	17,012	18,127
Liabilities:
Long-term Debt	2,858	1,624
Other liabilities	126	244
Total liabilities	2,984	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	16,100	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	3,231	3,087
Other assets	428	350
Total assets	3,659	3,437
Liabilities:
Long-term Debt	1,922	1,825
Other liabilities	172	181
Total liabilities	2,094	2,006
Consolidated VIE | Other
Assets:
Bonds available for sale	0	0
Other bond securities	2	3
Mortgage and other loans receivable	0	0
Other invested assets	25	25
Other assets	82	85
Total assets	109	113
Liabilities:
Long-term Debt	5	5
Other liabilities	23	26
Total liabilities	28	31
Unconsolidated VIE
Assets:
Other invested assets	8,500	9,800
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	328,938	387,201
Maximum Exposure to Loss, On-Balance Sheet	8,768	10,232
Maximum Exposure to Loss, Off-Balance Sheet	3,216	3,248
Total maximum exposure to loss	11,984	13,480
Unconsolidated VIE | Real Estate and Investment Entities
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	322,117	380,030
Maximum Exposure to Loss, On-Balance Sheet	7,902	9,253
Maximum Exposure to Loss, Off-Balance Sheet	1,994	2,043
Total maximum exposure to loss	9,896	11,296
Unconsolidated VIE | Affordable Housing Partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	4,116	4,468
Maximum Exposure to Loss, On-Balance Sheet	606	725
Maximum Exposure to Loss, Off-Balance Sheet	0	0
Total maximum exposure to loss	606	725
Unconsolidated VIE | Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	2,705	2,703
Maximum Exposure to Loss, On-Balance Sheet	260	254
Maximum Exposure to Loss, Off-Balance Sheet	1,222	1,205
Total maximum exposure to loss	$ 1,482	$ 1,459

DERIVATIVES AND HEDGE ACCOUNT_3

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of our derivative instruments) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	$ 107,237	$ 106,687
Gross Derivative Assets, Fair Value	3,788	3,545
Gross Derivative Liabilities, Notional Amount	43,460	45,888
Gross Derivative Liabilities, Fair Value	3,466	3,748
Derivative assets, Counterparty netting	(1,874)	(1,464)
Derivative assets, Cash collateral	(964)	(1,159)
Total derivative assets on consolidated balance sheet	950	922
Derivative liabilities, Counterparty netting	(1,874)	(1,464)
Derivative liabilities, Cash collateral	(290)	(1,249)
Total derivative liabilities on consolidated balance sheet	1,302	1,035
Bifurcated embedded derivatives
Derivative [Line Items]
Derivative assets, Counterparty netting	(3,400)	(4,100)
Derivatives designated as hedging instruments | Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	75	0
Gross Derivative Assets, Fair Value	1	0
Gross Derivative Liabilities, Notional Amount	811	838
Gross Derivative Liabilities, Fair Value	23	15
Derivatives designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	4,323	2,823
Gross Derivative Assets, Fair Value	241	173
Gross Derivative Liabilities, Notional Amount	4,173	4,783
Gross Derivative Liabilities, Fair Value	269	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	36,841	37,751
Gross Derivative Assets, Fair Value	2,504	2,171
Gross Derivative Liabilities, Notional Amount	27,131	26,461
Gross Derivative Liabilities, Fair Value	2,096	2,185
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	8,877	6,305
Gross Derivative Assets, Fair Value	686	658
Gross Derivative Liabilities, Notional Amount	8,282	11,093
Gross Derivative Liabilities, Fair Value	818	895
Derivatives not designated as hedging instruments | Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	18,826	19,975
Gross Derivative Assets, Fair Value	340	522
Gross Derivative Liabilities, Notional Amount	1,585	1,130
Gross Derivative Liabilities, Fair Value	5	2
Derivatives not designated as hedging instruments | Commodity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0	0
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	0	0
Gross Derivative Liabilities, Fair Value	0	0
Derivatives not designated as hedging instruments | Credit contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	3	4
Gross Derivative Assets, Fair Value	1	1
Gross Derivative Liabilities, Notional Amount	1,418	1,365
Gross Derivative Liabilities, Fair Value	252	277
Derivatives not designated as hedging instruments | Credit contracts | CDS
Derivative [Line Items]
Gross Derivative Liabilities, Notional Amount	616	685
Gross Derivative Liabilities, Fair Value	232	254
Derivatives not designated as hedging instruments | Other contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	38,292	39,829
Gross Derivative Assets, Fair Value	15	20
Gross Derivative Liabilities, Notional Amount	60	59
Gross Derivative Liabilities, Fair Value	$ 3	$ 5

DERIVATIVES AND HEDGE ACCOUNT_4

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) - USD ($) $ in Billions	Sep. 30, 2018	Dec. 31, 2017
Collateral
Collateral posted to third parties for derivative transactions	$ 2	$ 2.9
Collateral obtained from third parties for derivative transactions	$ 1.2	$ 1.3

DERIVATIVES AND HEDGE ACCOUNT_5

DERIVATIVES AND HEDGE ACCOUNTING (Details - Hedge Accounting) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	$ 28	$ (39)	$ 27	$ (87)
Derivatives designated as hedging instruments | Interest rate contracts | Fair value hedging | Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(1)	(1)	(9)	1
Gain (loss) recognized in earnings on hedged items	1	1	10	(1)
Gain (loss) recognized in earnings for ineffective portion	0	0	1	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	0	0
Derivatives designated as hedging instruments | Foreign exchange contracts | Fair value hedging | Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(11)	(157)	184	(318)
Gain (loss) recognized in earnings on hedged items	16	142	(175)	332
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	5	(15)	9	14
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	0	0
Derivatives designated as hedging instruments | Foreign exchange contracts | Fair value hedging | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	0
Gain (loss) recognized in earnings on hedged items	0	0	0	4
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	0	4
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	(3)	0	(29)
Gain (loss) recognized in earnings on hedged items	0	2	0	26
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	(1)	0	(3)
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	0	0
Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(173)	(524)	251	(1,078)
Derivatives not designated as hedging instruments | Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(223)	(550)	133	(1,250)
Derivatives not designated as hedging instruments | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	(3)	(3)	(10)
Derivatives not designated as hedging instruments | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	35	8	76	121
Derivatives not designated as hedging instruments | Policy fees
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	17	20	51	59
Derivatives not designated as hedging instruments | Policyholder benefits and claims incurred
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(2)	1	(6)	2
Derivatives not designated as hedging instruments | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(270)	(18)	(892)	81
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	43	(98)	295	(220)
Derivatives not designated as hedging instruments | Equity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(199)	(233)	(386)	(723)
Derivatives not designated as hedging instruments | Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	6	19	18	55
Derivatives not designated as hedging instruments | Other contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	18	19	52	55
Derivatives not designated as hedging instruments | Embedded derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	$ 229	$ (213)	$ 1,164	$ (326)

DERIVATIVES AND HEDGE ACCOUNT_6

DERIVATIVES AND HEDGE ACCOUNTING (Details - Additional Information) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Credit Derivatives [Line Items]
Collateral posted	$ 2,000	$ 2,900
Fair value of hybrid securities	4,000	4,400
Par value of hybrid securities	8,600	9,100
Credit Risk Related Contingent Features [Member]
Credit Derivatives [Line Items]
Collateral posted	466	676
Aggregate fair value of net liability position	421	$ 572
Additional collateral postings and termination payments	$ 49

INSURANCE LIABILITIES (Details

INSURANCE LIABILITIES (Details - Liability for Unpaid Losses and Loss Adjustment Expenses) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Jan. 20, 2017
Supplementary Insurance Information, by Segment [Line Items]
Collateral Held For Deductible Recoverable Amounts	$ 9,300		$ 9,300		$ 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	76,713	$ 76,422	78,393	$ 77,077
Reinsurance recoverable, balance at the beginning of the year	(27,406)	(27,660)	(26,708)	(15,532)
Net Liability for unpaid loss and loss adjustment expenses, beginning of year	49,307	48,762	51,685	61,545
Losses and loss adjustment expenses incurred
Current year	6,670	7,511	15,800	16,021
Prior years, excluding discount and amortization of deferred gain	949	901	884	1,354
Prior years, discount charge (benefit)	3	48	(174)	283
Prior years, amortization of deferred gain on retroactive reinsurance	(175)	(75)	(283)	(195)
Total losses and loss adjustment expenses incurred	7,447	8,385	16,227	17,463
Losses and loss adjustment expenses paid
Current year	(1,791)	(1,634)	(3,289)	(3,342)
Prior years	(4,526)	(3,395)	(14,312)	(12,438)
Total losses and loss adjustment expenses paid	(6,317)	(5,029)	(17,601)	(15,780)
Other changes
Foreign exchange effect	(236)	330	(393)	688
Acquisitions	3,020	0	3,020	0
Retroactive reinsurance adjustment (net of discount)	(464)	22	(181)	(11,438)
Reclassified to liabilities held for sale	0	8	0	0
Total other changes	2,320	360	2,446	(10,750)
Net liability for unpaid losses and loss adjustment expenses, balance at end of year	52,757	52,478	52,757	52,478
Reinsurance recoverable, balance at the end of the year	29,202	27,609	29,202	27,609
Total, balance at the end of the year	81,959	80,087	81,959	80,087
U.S. Commercial long-tail exposures | NICO | Accident Years 2015 and Prior
Other changes
Discount on retroactive reinsurance	$ 9	$ 6	$ 22	$ 11
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 (Detail_2

INSURANCE LIABILITIES (Details - Narratives) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Insurance Liabilities Disclosure [Line Items]
Collateral Held For Deductible Recoverable Amounts	$ 9,300		$ 9,300			$ 9,500
Liability for Claims and Claims Adjustment Expense	81,959	$ 80,087	81,959	$ 80,087	$ 76,713	78,393	$ 76,422	$ 77,077
Net liability for unpaid losses and loss adjustment expenses as presented in the disaggregated tables below (Last 10 Years)	52,757	52,478	52,757	52,478	$ 49,307	51,685	$ 48,762	$ 61,545
Contractual deductible recoverable amount	12,100		12,100			12,600
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount	1,995		$ 1,995			1,844
Tabular Discount Rate			3.50%
Workers Compensation Tabular Discount Amount	622		$ 622
Workers Compensation Non Tabular Discount Amount	1,400		1,400
(Increase) Decrease in Loss Reserve Discount	86	(48)	$ 305	(283)
New York
Discounting Of Loss Reserves [Abstract]
Non Tabular Discount Rate			5.00%
Pennsylvania
Discounting Of Loss Reserves [Abstract]
Non Tabular Discount Rate			6.00%
Legacy General Insrance Run-Off Lines
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount	955		$ 955			$ 918
(Increase) Decrease in Loss Reserve Discount	$ (9)	$ 26	$ 37	$ (76)

INSURANCE LIABILITIES (Detail_3

INSURANCE LIABILITIES (Details - Discounting of Reserves) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Discounting of Reserves [Line Items]
Tabular Discount Rate			3.50%
Workers Compensation Tabular Discount Amount	$ 622		$ 622
Workers Compensation Non Tabular Discount Amount	1,400		1,400
U.S. Workers' compensation	3,688		3,688		$ 3,383
Retroactive Reinsurance	(1,693)		(1,693)		(1,539)
Total reserve discount	1,995		1,995		1,844
Current accident year	89	$ 33	131	$ 94
Accretion and other adjustments to prior year discount	(19)	(75)	(137)	(239)
Effect of interest rate changes	16	(6)	311	(138)
Net reserve discount benefit (charge)	86	(48)	305	(283)
Change in discount on loss reserves ceded under retroactive reinsurance	(46)	53	(154)	(1,494)
Net change in total reserve discount	40	5	151	(1,777)
North America Commerical Insurance
Discounting of Reserves [Line Items]
U.S. Workers' compensation	2,733		2,733		2,465
Retroactive Reinsurance	(1,693)		(1,693)		(1,539)
Total reserve discount	1,040		1,040		926
Current accident year	89	33	131	94
Accretion and other adjustments to prior year discount	(7)	(100)	(95)	(205)
Effect of interest rate changes	13	(7)	232	(96)
Net reserve discount benefit (charge)	95	(74)	268	(207)
Change in discount on loss reserves ceded under retroactive reinsurance	(46)	53	(154)	(1,494)
Net change in total reserve discount	49	(21)	114	(1,701)
Legacy General Insrance Run-Off Lines
Discounting of Reserves [Line Items]
U.S. Workers' compensation	955		955		918
Retroactive Reinsurance	0		0		0
Total reserve discount	955		955		918
Current accident year	0	0	0	0
Accretion and other adjustments to prior year discount	(12)	25	(42)	(34)
Effect of interest rate changes	3	1	79	(42)
Net reserve discount benefit (charge)	(9)	26	37	(76)
Change in discount on loss reserves ceded under retroactive reinsurance	0	0	0	0
Net change in total reserve discount	(9)	26	37	(76)
United Kingdom
Discounting of Reserves [Line Items]
Net reserve discount benefit (charge)			182		$ 173
Net change in total reserve discount	$ 12	$ (18)	$ 10	$ 20

CONTINGENCIES, COMMITMENTS AN_2

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) $ in Billions	Sep. 30, 2018USD ($)
Other Commitments
Other Commitments	$ 3.6

CONTINGENCIES, COMMITMENTS AN_3

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) $ in Millions	Sep. 30, 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 ($) $ / shares in Units, $ in Millions	Oct. 31, 2018	Sep. 28, 2018	Jun. 28, 2018	Mar. 29, 2018	Sep. 29, 2017	Jun. 28, 2017	Mar. 29, 2017	Sep. 30, 2018	Sep. 30, 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)								4,055,727
Shares repurchased								(18,452,857)	(100,000,000)
Shares, end of period								(1,022,023,965)
Shares, end of period								1,906,671,492
Shares, end of period								884,647,527
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Dividend paid (in dollars per share)		$ 0.32	$ 0.32	$ 0.32	$ 0.32	$ 0.32	$ 0.32
Date of Shareholders of Record		Sep. 17, 2018	Jun. 14, 2018	Mar. 15, 2018	Sep. 15, 2017	Jun. 14, 2017	Mar. 15, 2017
Date Dividends Declared		Aug. 2, 2018	May 2, 2018	Feb. 8, 2018	Aug. 2, 2017	May 3, 2017	Feb. 14, 2017
Shares repurchased (in shares)								18,452,857	100,000,000
Payments for Repurchase of Common Stock								$ 994	$ 6,275
Amount paid to purchase warrants								$ 6	$ 3
Warrants repurchased								366,253	185,000
Subsequent event
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Date of Shareholders of Record	Dec. 12, 2018
Date Dividends Declared	Oct. 31, 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 repurchased								0
Shares, end of period								1,906,671,492
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Shares repurchased (in shares)								0
Treasury Stock
The following table presents a roll forward of outstanding shares:
Shares, beginning of year								(1,007,626,835)
Issuances (in shares)								4,055,727
Shares repurchased								(18,452,857)
Shares, end of period								(1,022,023,965)
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Shares repurchased (in shares)								18,452,857

EQUITY (Details - Rollforward o

EQUITY (Details - Rollforward of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period, net of tax			$ 5,465
Cumulative effect of change in accounting principle						$ (8)	$ 0
Change in unrealized appreciation (depreciation) of investments	$ (951)	$ 1,078	(8,917)	$ 4,257
Deferred tax asset (liability)	(51)	(295)	1,099	(412)
Other comprehensive income (loss)	(766)	977	(5,425)	2,709
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	(129)	325	(181)	447
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment	14	63	66	92
Balance, end of period, net of tax	(536)		(536)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period, net of tax	230	4,962	5,465	3,230
Cumulative effect of change in accounting principle					$ 0	(576)	$ 0
Change in unrealized appreciation (depreciation) of investments	(951)	1,078	(8,917)	4,257
Change in deferred acquisition costs adjustment and other	11	(344)	1,030	(1,325)
Change in future policy benefits	340	114	1,464	(425)
Changes in foreign currency translation adjustments	(131)	328	(154)	474
Change in net actuarial gain (loss)	16	96	54	134
Change in prior service cost (credit)	0	0	(2)	6
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0		1
Deferred tax asset (liability)	(51)	(295)	1,099	(412)
Other comprehensive income (loss)	(766)	977	(5,425)	2,709
Noncontrolling interests	0	0	0	0
Balance, end of period, net of tax	(536)	5,939	(536)	5,939
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Other-Than-Temporary Credit Impairments Were Taken
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period, net of tax	(234)	659	793	426
Cumulative effect of change in accounting principle					0	169
Change in unrealized appreciation (depreciation) of investments	350	223	(1,258)	564
Change in deferred acquisition costs adjustment and other	(205)	(73)	(91)	(56)
Change in future policy benefits	0	0	0	0
Changes in foreign currency translation adjustments	0	0	0	0
Change in net actuarial gain (loss)	0	0	0	0
Change in prior service cost (credit)	0	0	0	0
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0		0
Deferred tax asset (liability)	(38)	(53)	260	(178)
Other comprehensive income (loss)	107	97	(1,089)	330
Noncontrolling interests	0	0	0	0
Balance, end of period, net of tax	(127)	756	(127)	756
Unrealized Appreciation (Depreciation) of All Other Investments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period, net of tax	3,944	7,753	7,693	6,405
Cumulative effect of change in accounting principle					0	(285)
Change in unrealized appreciation (depreciation) of investments	(1,301)	855	(7,659)	3,693
Change in deferred acquisition costs adjustment and other	216	(271)	1,121	(1,269)
Change in future policy benefits	340	114	1,464	(425)
Changes in foreign currency translation adjustments	0	0	0	0
Change in net actuarial gain (loss)	0	0	0	0
Change in prior service cost (credit)	0	0	0	0
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0		0
Deferred tax asset (liability)	(13)	(206)	852	(159)
Other comprehensive income (loss)	(758)	492	(4,222)	1,840
Noncontrolling interests	0	0	0	0
Balance, end of period, net of tax	3,186	8,245	3,186	8,245
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period, net of tax	(2,426)	(2,507)	(2,090)	(2,629)
Cumulative effect of change in accounting principle					0	(284)
Change in unrealized appreciation (depreciation) of investments	0	0	0	0
Change in deferred acquisition costs adjustment and other	0	0	0	0
Change in future policy benefits	0	0	0	0
Changes in foreign currency translation adjustments	(131)	328	(154)	474
Change in net actuarial gain (loss)	0	0	0	0
Change in prior service cost (credit)	0	0	0	0
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0		0
Deferred tax asset (liability)	2	(3)	(27)	(27)
Other comprehensive income (loss)	(129)	325	(181)	447
Noncontrolling interests	0	0	0	0
Balance, end of period, net of tax	(2,555)	(2,182)	(2,555)	(2,182)
Retirement Plan Liabilities Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period, net of tax	(1,062)	(943)	(931)	(972)
Cumulative effect of change in accounting principle					0	(183)
Change in unrealized appreciation (depreciation) of investments	0	0	0	0
Change in deferred acquisition costs adjustment and other	0	0	0	0
Change in future policy benefits	0	0	0	0
Changes in foreign currency translation adjustments	0	0	0	0
Change in net actuarial gain (loss)	16	96	54	134
Change in prior service cost (credit)	0	0	(2)	6
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0		0
Deferred tax asset (liability)	(2)	(33)	14	(48)
Other comprehensive income (loss)	14	63	66	92
Noncontrolling interests	0	0	0	0
Balance, end of period, net of tax	(1,048)	(880)	(1,048)	(880)
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Own Credit Risk
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period, net of tax	8	0	0	0
Cumulative effect of change in accounting principle					$ 0	$ 7
Change in unrealized appreciation (depreciation) of investments		0	0	0
Change in deferred acquisition costs adjustment and other	0	0	0	0
Change in future policy benefits	0	0	0	0
Changes in foreign currency translation adjustments	0	0	0	0
Change in net actuarial gain (loss)	0	0	0	0
Change in prior service cost (credit)	0	0	0	0
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0		1
Deferred tax asset (liability)	0	0	0	0
Other comprehensive income (loss)	0	0	1	0
Noncontrolling interests	0	0	0	0
Balance, end of period, net of tax	$ 8	$ 0	$ 8	$ 0

EQUITY (Details - Other compreh

EQUITY (Details - Other comprehensive income reclassification adjustments) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	$ (683)	$ 1,357	$ (6,526)	$ 3,699
Less: Reclassification adjustments included in net income	32	85	(2)	578
Total other comprehensive income (loss), before income tax expense (benefit)	(715)	1,272	(6,524)	3,121
Less: Income tax expense (benefit)	51	295	(1,099)	412
Other comprehensive income (loss)	(766)	977	(5,425)	2,709
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Other-Than-Temporary Credit Impairments Were Taken
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	146	160	(1,344)	553
Less: Reclassification adjustments included in net income	1	10	5	45
Total other comprehensive income (loss), before income tax expense (benefit)	145	150	(1,349)	508
Less: Income tax expense (benefit)	38	53	(260)	178
Other comprehensive income (loss)	107	97	(1,089)	330
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(705)	831	(5,055)	2,610
Less: Reclassification adjustments included in net income	40	133	19	611
Total other comprehensive income (loss), before income tax expense (benefit)	(745)	698	(5,074)	1,999
Less: Income tax expense (benefit)	13	206	(852)	159
Other comprehensive income (loss)	(758)	492	(4,222)	1,840
Foreign Currency Translation Adjustments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(131)	328	(154)	474
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	(131)	328	(154)	474
Less: Income tax expense (benefit)	(2)	3	27	27
Other comprehensive income (loss)	(129)	325	(181)	447
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	7	38	26	62
Less: Reclassification adjustments included in net income	(9)	(58)	(26)	(78)
Total other comprehensive income (loss), before income tax expense (benefit)	16	96	52	140
Less: Income tax expense (benefit)	2	33	(14)	48
Other comprehensive income (loss)	14	63	66	92
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	0		1
Total other comprehensive income (loss), before income tax expense (benefit)	0		1
Less: Income tax expense (benefit)	0	0	0	0
Other comprehensive income (loss)	$ 0	$ 0	$ 1	$ 0

EQUITY (Details - Reclassificat

EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investments	$ (476)	$ (848)	$ (207)	$ (911)
Deferred acquisition costs adjustment	1,118	912	3,813	3,135
Future policy benefits	8,312	10,322	19,484	22,653
Total	32	85	(2)	578
Income from continuing operations before income tax expense (benefit)	(1,527)	(2,803)	952	591
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)	32	85	(2)	578
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	1	10	5	45
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investments	1	10	5	45
Total	1	10	5	45
Unrealized appreciation (depreciation) of all other investments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	40	133	19	611
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	10	48	19	415
Deferred acquisition costs adjustment	30	85	0	196
Future policy benefits	0	0	0	0
Total	40	133	19	611
Change in retirement plan liabilities adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	(9)	(58)	(26)	(78)
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	1	1
Actuarial gains (losses)	(9)	(58)	(27)	(79)
Total	$ (9)	$ (58)	$ (26)	$ (78)

EARNINGS PER SHARE (EPS) (Detai

EARNINGS PER SHARE (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator for EPS:
Income (Loss) from Continuing Operations	$ (1,220)	$ (1,712)	$ 661	$ 609
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	26	5	40
Net income (loss) attributable to AIG common shareholders from continuing operations	(1,220)	(1,738)	656	569
Income (loss) from discontinued operations, net of income tax expense	(39)	(1)	(40)	7
Net income (loss) attributable to AIG common shareholders	$ (1,259)	$ (1,739)	$ 616	$ 576
Denominator for EPS:
Weighted average shares outstanding - basic	895,237,359	908,667,044	902,081,555	938,130,832
Dilutive shares	0	0	14,736,714	23,165,114
Weighted average shares outstanding - diluted	895,237,359	908,667,044	916,818,269	961,295,946
Basic:
Income (loss) from continuing operations	$ (1.37)	$ (1.91)	$ 0.72	$ 0.6
Income (loss) from discontinued operations	(0.04)	0	(0.04)	0.01
Net income (loss) attributable to AIG	(1.41)	(1.91)	0.68	0.61
Diluted:
Income (loss) from continuing operations	(1.37)	(1.91)	0.71	0.59
Income (loss) from discontinued operations	(0.04)	0	(0.04)	0.01
Net Income (loss) attributable to AIG	$ (1.41)	$ (1.91)	$ 0.67	$ 0.6
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive	5,800,000	2,400,000	4,700,000	2,000,000
Dilutive Shares Excluded From Computation Of Diluted Earnings Per Share	13,538,168	22,459,868

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Pensions
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6	$ 2	$ 21	$ 31
Interest cost	45	45	134	138
Expected return on assets	(78)	(72)	(232)	(212)
Amortization of prior service cost (credit)	0	0	1	0
Amortization of net (gain) loss	9	9	27	29
Curtailment loss	0	(5)	0	(5)
Settlement charges	0	50	0	50
Net periodic benefit cost (credit)	(18)	29	(49)	31
Pensions | U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	(5)	4	8
Interest cost	41	41	122	126
Expected return on assets	(72)	(66)	(213)	(194)
Amortization of prior service cost (credit)	0	0	0	0
Amortization of net (gain) loss	7	6	21	20
Settlement charges		50		50
Net periodic benefit cost (credit)	(24)	26	(66)	10
Pensions | Non U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	7	17	23
Interest cost	4	4	12	12
Expected return on assets	(6)	(6)	(19)	(18)
Amortization of prior service cost (credit)	0	0	1	0
Amortization of net (gain) loss	2	3	6	9
Curtailment loss	0	(5)	0	(5)
Settlement charges	0	0	0	0
Net periodic benefit cost (credit)	6	3	17	21
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1	2	3
Interest cost	2	3	6	8
Expected return on assets	0	0	0	0
Amortization of prior service cost (credit)	0	0	(2)	(1)
Amortization of net (gain) loss	0	0	0	0
Curtailment loss	0	0	0	0
Settlement charges	0	0	0	0
Net periodic benefit cost (credit)	2	4	6	10
Postretirement Plans | U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	1	1
Interest cost	1	2	4	5
Expected return on assets	0	0	0	0
Amortization of prior service cost (credit)	0	0	(1)	(1)
Amortization of net (gain) loss	0	0	0	0
Net periodic benefit cost (credit)	1	2	4	5
Postretirement Plans | Non U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1	1	2
Interest cost	1	1	2	3
Expected return on assets	0	0	0	0
Amortization of prior service cost (credit)	0	0	(1)	0
Amortization of net (gain) loss	0	0	0	0
Curtailment loss	0	0	0	0
Settlement charges	0	0	0	0
Net periodic benefit cost (credit)	$ 1	$ 2	$ 2	$ 5

INCOME TAXES (Details - U.S. TA

INCOME TAXES (Details - U.S. TAX REFORM OVERVIEW) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Tax [Line Items]
U.S. federal income tax at statutory rate (as a percent)	21.00%	35.00%	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 Act Discount Period Extension, Minimum			10 years
Tax Act Discount Period Extension, Maximum			24 years
Provisional tax benefit, deemed repatriation tax					38
Tax Cuts And Jobs Act Of 2017 Transition Tax For Accumulated Foreign Earnings Income Tax Expense					62
Tax Cuts And Jobs Act Of 2017 Transition Tax For Accumulated Foreign Earnings Liability					24
Tax Cuts And Jobs Act Incomplete Accounting Insurance Reserve Calculation Changes Provisional Income Tax Expense Benefit					$ 1,900

INCOME TAXES (Details - EFFECTI

INCOME TAXES (Details - EFFECTIVE TAX RATE) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income (loss) from continuing operations before income tax expense (benefit)
Income (loss) from continuing operations before income tax expense (benefit)	$ (1,527)	$ (2,803)	$ 952	$ 591
U.S.:
Income tax expense (benefit)	(307)	(1,091)	291	(18)
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)	(1,527)	(2,803)	952	591
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)	(307)	$ (1,091)	291	$ (18)
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	$ 5		$ 42
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%	21.00%	35.00%
Adjustments:
Amounts attributable to continuing operations (as a percent)	20.10%	38.90%	30.60%	0.00%
Accounting for Uncertainty in Income Taxes
Unrecognized tax benefits, excluding interest and penalties	$ 4,700		$ 4,700		4,700
Unrecognized tax benefits, if recognized would not affect the effective tax rate	45		45		28
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate	4,700		4,700		4,700
Unrecognized tax benefits, interest and penalties accrued	2,200		2,200		$ 2,000
Unrecognized tax benefits, interest net of the federal benefit (expense) and penalties			(148)	$ (102)
Decrease in Unrecognized Tax Benefits is Reasonably Possible in the next twelve months	$ 3,900		$ 3,900

INCOME TAXES (Details - Assessm

INCOME TAXES (Details - Assessment of Deferred Tax Asset (liabilities) Valuation Allowance) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Life Insurance Companies [Member]
Deferred Tax Assets, Liabilities [Line Items]
Deferred tax asset valuation allowance allocated to other comprehensive income	$ 149	$ 149

INFORMATION PROVIDED IN CONNE_3

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Balance Sheets) - USD ($) $ in Millions	Sep. 30, 2018		Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017		Jun. 30, 2017	Dec. 31, 2016
Assets:
Short-term investments	$ 8,863			$ 10,386
Other investments	307,200			311,906
Total investments	316,063			322,292
Cash	2,741			2,362	$ 2,433
Loans to subsidiaries	0
Investment in consolidated subsidiaries	0
Other assets, including deferred income taxes	186,056			173,647
Total assets	504,860			498,301
Liabilities:
Insurance liabilities	291,391			282,105
Long-term Debt	34,594			31,640
Other liabilities, including intercompany balances	119,698			118,848
Loans from subsidiaries	0
Total liabilities	445,683			432,593
Total AIG shareholders' equity	58,586			65,171
Non-redeemable noncontrolling interests	591			537
Total equity	59,177		$ 61,797	65,708	73,012		$ 74,324	$ 76,858
Total liabilities and equity	504,860			498,301
Other Assets
Assets:
Restricted cash	354	[1]		317	219	[1]
Short-term investments
Assets:
Restricted cash	28	[1]		58	53	[1]
AIG (As Guarantor)
Assets:
Short-term investments	1,459			2,541
Other investments	4,016			6,004
Total investments	5,475			8,545
Cash	3			3	3
Loans to subsidiaries	34,713			35,004
Investment in consolidated subsidiaries	36,727			40,135
Other assets, including deferred income taxes	15,996			16,016
Total assets	92,914			99,703
Liabilities:
Insurance liabilities	0
Long-term Debt	22,459			21,557
Other liabilities, including intercompany balances	11,296			12,458
Loans from subsidiaries	573			517
Total liabilities	34,328			34,532
Total AIG shareholders' equity	58,586			65,171
Total equity	58,586			65,171
Total liabilities and equity	92,914			99,703
AIG (As Guarantor) | Other Assets
Assets:
Restricted cash	1			1	1
AIG (As Guarantor) | Short-term investments
Assets:
Restricted cash	1			4	1
Validus Holding Ltd [Member]
Assets:
Short-term investments	2
Other investments	13
Total investments	15
Cash	66
Loans to subsidiaries	0
Investment in consolidated subsidiaries	4,120
Other assets, including deferred income taxes	2,289
Assets held for sale	0
Total assets	6,490
Liabilities:
Insurance liabilities	0
Long-term Debt	710
Other liabilities, including intercompany balances	416
Loans from subsidiaries	0
Liabilities held for sale	0
Total liabilities	1,126
Total AIG shareholders' equity	5,364
Non-redeemable noncontrolling interests	0
Total equity	5,364
Total liabilities and equity	6,490
AIGLH
Assets:
Cash	3			20	2
Investment in consolidated subsidiaries	27,038			30,359
Other assets, including deferred income taxes	170			170
Total assets	27,211			30,549
Liabilities:
Insurance liabilities	0
Long-term Debt	643			642
Other liabilities, including intercompany balances	132			143
Loans from subsidiaries	0			0
Total liabilities	775			785
Total AIG shareholders' equity	26,436			29,764
Total equity	26,436			29,764
Total liabilities and equity	27,211			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	9,150			11,559
Other investments	303,171			305,902
Total investments	312,321			317,461
Cash	2,669			2,339	2,428
Loans to subsidiaries	572			517
Other assets, including deferred income taxes	169,420			159,594
Total assets	484,982			479,911
Liabilities:
Insurance liabilities	291,391			282,105
Long-term Debt	10,782			9,441
Other liabilities, including intercompany balances	111,419			112,275
Loans from subsidiaries	34,713			35,004
Total liabilities	448,305			438,825
Total AIG shareholders' equity	36,086			40,549
Non-redeemable noncontrolling interests	591			537
Total equity	36,677			41,086
Total liabilities and equity	484,982			479,911
Other Subsidiaries | Other Assets
Assets:
Restricted cash	353			316	218
Other Subsidiaries | Short-term investments
Assets:
Restricted cash	27			54	$ 52
Reclassification and Eliminations
Assets:
Short-term investments	(1,748)			(3,714)
Other investments	0
Total investments	(1,748)			(3,714)
Cash	0			0
Loans to subsidiaries	(35,285)			(35,521)
Investment in consolidated subsidiaries	(67,885)			(70,494)
Other assets, including deferred income taxes	(1,819)			(2,133)
Total assets	(106,737)			(111,862)
Liabilities:
Insurance liabilities	0
Long-term Debt	0
Other liabilities, including intercompany balances	(3,565)			(6,028)
Loans from subsidiaries	(35,286)			(35,521)
Total liabilities	(38,851)			(41,549)
Total AIG shareholders' equity	(67,886)			(70,313)
Total equity	(67,886)			(70,313)
Total liabilities and equity	$ (106,737)			$ (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 CONNE_4

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Income (Loss)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Equity in earnings of consolidated subsidiaries	$ 0	$ 0	$ 0	$ 0
Other income	11,486	11,751	34,829	36,885
Total revenues	11,486	11,751	34,829	36,885
Expenses:
Interest expense	326	290	902	880
(Gains) losses on extinguishment of debt	1	1	10	(4)
Other expenses	12,686	14,263	32,965	35,418
Total benefits, losses and expenses	13,013	14,554	33,877	36,294
Income (loss) from continuing operations before income tax expense (benefit)	(1,527)	(2,803)	952	591
Income tax expense (benefit)	(307)	(1,091)	291	(18)
Income (loss) from continuing operations	(1,220)	(1,712)	661	609
Income (loss) from discontinued operations	(39)	(1)	(40)	7
Net income (loss)	(1,259)	(1,713)	621	616
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	26	5	40
Net income (loss) attributable to AIG	(1,259)	(1,739)	616	576
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries	(989)	(2,098)	889	794
Other income	183	225	750	653
Total revenues	(806)	(1,873)	1,639	1,447
Expenses:
Interest expense	244	236	710	719
(Gains) losses on extinguishment of debt	0	2	0	2
Other expenses	132	177	643	693
Total benefits, losses and expenses	376	415	1,353	1,414
Income (loss) from continuing operations before income tax expense (benefit)	(1,182)	(2,288)	286	33
Income tax expense (benefit)	38	(549)	(370)	(544)
Income (loss) from continuing operations	(1,220)	(1,739)	656	577
Income (loss) from discontinued operations	(39)	0	(40)	(1)
Net income (loss)	(1,259)	(1,739)	616	576
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	(1,259)	(1,739)	616	576
Validus Holding Ltd [Member]
Revenues:
Equity in earnings of consolidated subsidiaries	(93)		(93)
Other income	23		23
Total revenues	(70)		(70)
Expenses:
Interest expense	10		10
(Gains) losses on extinguishment of debt	0		0
Other expenses	2		2
Total benefits, losses and expenses	12		12
Income (loss) from continuing operations before income tax expense (benefit)	(82)		(82)
Income tax expense (benefit)	0		0
Income (loss) from continuing operations	(82)		(82)
Net income (loss)	(82)	0	(82)	0
Less:
Net income (loss) attributable to AIG	(82)
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries	1,316	1,138	2,497	2,553
Other income	1	0	1	0
Total revenues	1,317	1,138	2,498	2,553
Expenses:
Interest expense	12	12	37	37
(Gains) losses on extinguishment of debt	0	0	0	0
Other expenses	1	1	2	2
Total benefits, losses and expenses	13	13	39	39
Income (loss) from continuing operations before income tax expense (benefit)	1,304	1,125	2,459	2,514
Income tax expense (benefit)	(2)	(4)	0	(12)
Income (loss) from continuing operations	1,306	1,129	2,459	2,526
Income (loss) from discontinued operations	0	0	0	0
Net income (loss)	1,306	1,129	2,459	2,526
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	1,306	1,129	2,459	2,526
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries	0	0	0	0
Other income	11,412	11,455	34,103	36,085
Total revenues	11,412	11,455	34,103	36,085
Expenses:
Interest expense	63	44	154	129
(Gains) losses on extinguishment of debt	1	(1)	10	(6)
Other expenses	12,513	14,154	32,357	34,865
Total benefits, losses and expenses	12,577	14,197	32,521	34,988
Income (loss) from continuing operations before income tax expense (benefit)	(1,165)	(2,742)	1,582	1,097
Income tax expense (benefit)	(343)	(538)	661	538
Income (loss) from continuing operations	(822)	(2,204)	921	559
Income (loss) from discontinued operations	0	(1)	0	8
Net income (loss)	(822)	(2,205)	921	567
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	26	5	40
Net income (loss) attributable to AIG	(822)	(2,231)	916	527
Reclassification and Eliminations
Revenues:
Equity in earnings of consolidated subsidiaries	(234)	960	(3,293)	(3,347)
Other income	(133)	71	(48)	147
Total revenues	(367)	1,031	(3,341)	(3,200)
Expenses:
Interest expense	(3)	(2)	(9)	(5)
(Gains) losses on extinguishment of debt	0	0	0	0
Other expenses	38	(69)	(39)	(142)
Total benefits, losses and expenses	35	(71)	(48)	(147)
Income (loss) from continuing operations before income tax expense (benefit)	(402)	1,102	(3,293)	(3,053)
Income tax expense (benefit)	0	0	0	0
Income (loss) from continuing operations	(402)	1,102	(3,293)	(3,053)
Income (loss) from discontinued operations	0	0	0	0
Net income (loss)	(402)	1,102	(3,293)	(3,053)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	$ (402)	$ 1,102	$ (3,293)	$ (3,053)

INFORMATION PROVIDED IN CONNE_5

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Comprehensive Income (Loss)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ (1,259)	$ (1,713)	$ 621	$ 616
Other comprehensive income (loss)	(766)	977	(5,425)	2,709
Comprehensive income (loss)	(2,025)	(736)	(4,804)	3,325
Total comprehensive income (loss) attributable to noncontrolling interests	0	26	5	40
Comprehensive income (loss) attributable to AIG	(2,025)	(762)	(4,809)	3,285
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(1,259)	(1,739)	616	576
Other comprehensive income (loss)	(766)	977	(5,425)	2,709
Comprehensive income (loss)	(2,025)	(762)	(4,809)	3,285
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	(2,025)	(762)	(4,809)	3,285
Validus Holding Ltd [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(82)	0	(82)	0
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	(82)	0	(82)	0
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	(82)	0	(82)	0
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,306	1,129	2,459	2,526
Other comprehensive income (loss)	(301)	1,274	3,139	7,056
Comprehensive income (loss)	1,005	2,403	5,598	9,582
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	1,005	2,403	5,598	9,582
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(822)	(2,205)	921	567
Other comprehensive income (loss)	(1,436)	(30,625)	12,568	18,864
Comprehensive income (loss)	(2,258)	(32,830)	13,489	19,431
Total comprehensive income (loss) attributable to noncontrolling interests	0	26	5	40
Comprehensive income (loss) attributable to AIG	(2,258)	(32,856)	13,484	19,391
Reclassification and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(402)	1,102	(3,293)	(3,053)
Other comprehensive income (loss)	1,737	29,351	(15,707)	(25,920)
Comprehensive income (loss)	1,335	30,453	(19,000)	(28,973)
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	$ 1,335	$ 30,453	$ (19,000)	$ (28,973)

INFORMATION PROVIDED IN CONNE_6

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018		Dec. 31, 2017	Sep. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ (38)	$ (8,862)
Cash flows from investing activities:
Sales of investments	46,533	60,512
Sale of divested businesses, net	10	605
Purchase of investments	(43,928)	(47,948)
Loans to subsidiaries - net	0	0
Contributions from (to) subsidiaries - net	0	0
Acquisition of businesses, net of cash and restricted cash acquired	5,052	0
Net change in short-term investments	2,411	2,815
Other, net	(891)	(1,509)
Net cash provided by (used in) investing activities	(917)	14,475
Cash flows from financing activities:
Issuance of long-term debt	4,059	2,405
Repayments of long-term debt	(2,788)	(2,751)
Purchase of common stock	(994)	(6,275)
Intercompany loans - net	0	0
Cash dividends paid	(858)	(884)
Other, net	1,914	2,379
Net cash provided used in financing activities	1,333	(5,126)
Effect of exchange rate changes on cash and restricted cash	8	(22)
Change in cash and restricted cash	386	465
Cash and restricted cash at beginning of year	2,737	2,107
Change in cash of businesses held for sale			$ 0			$ 133
Cash and restricted cash at end of period	3,123	2,705
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			2,741		$ 2,362	2,433
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	3,123	2,107	3,123		2,737	2,705
Interest:
Third party	(1,018)	(1,046)
Intercompany	0	0
Taxes:
Income tax authorities	(67)	(490)
Intercompany	0	0
Other Assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			354	[1]	317	219	[1]
Short-term investments
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			28	[1]	58	53	[1]
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	1,389	793
Cash flows from investing activities:
Sales of investments	4,641	5,428
Sale of divested businesses, net	0	40
Purchase of investments	(1,680)	(1,781)
Loans to subsidiaries - net	878	38
Contributions from (to) subsidiaries - net	22	990
Acquisition of businesses, net of cash and restricted cash acquired	(5,475)
Net change in short-term investments	1,267	1,926
Other, net	(55)	(17)
Net cash provided by (used in) investing activities	(402)	6,624
Cash flows from financing activities:
Issuance of long-term debt	2,470	1,108
Repayments of long-term debt	(1,493)	(1,354)
Purchase of common stock	(994)	(6,275)
Intercompany loans - net	50	(5)
Cash dividends paid	(858)	(884)
Other, net	(165)	(5)
Net cash provided by (used in) financing activities - continuing operations	(990)
Net cash provided by financing activities - discontinued operations, net assets and businesses held for sale	0
Net cash provided used in financing activities	(990)	(7,415)
Change in cash and restricted cash	(3)	2
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	5	5
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			3		3	3
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	8	5	5		8	5
Interest:
Third party	(706)	(791)
Intercompany	(1)	1
Taxes:
Income tax authorities	(23)	(324)
Intercompany	1,084	1,852
Non-cash financing and investing activities:
Return of capital	2,706	26
Dividends received in the form of securities	745	735
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			1		4	1
Validus Holding Ltd [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(40)
Cash flows from investing activities:
Sales of investments	0
Sale of divested businesses, net	0
Purchase of investments	0
Loans to subsidiaries - net	0
Contributions from (to) subsidiaries - net	0
Acquisition of businesses, net of cash and restricted cash acquired	112
Net change in restricted cash	0
Net change in short-term investments	0
Other, net	0
Net cash provided by (used in) investing activities - continuing operations	112
Net cash provided by (used in) investing activities - discontinued operations, net assets and businesses held for sale	0
Net cash provided by (used in) investing activities	112
Net change in derivative assets and liabilities	0
Cash flows from financing activities:
Issuance of long-term debt	0
Repayments of long-term debt	0
Purchase of common stock	0
Intercompany loans - net	0
Cash dividends paid	(6)
Other, net	0
Net cash provided by (used in) financing activities - continuing operations	(6)
Net cash provided by financing activities - discontinued operations, net assets and businesses held for sale	0
Net cash provided used in financing activities	(6)
Effect of exchange rate changes on cash and restricted cash	0
Change in cash and restricted cash	66
Cash and restricted cash at beginning of year	0
Cash and restricted cash at end of period	66
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			66
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	0		66		0
Interest:
Third party	14
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	2,003	1,105
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	(4)
Net cash provided by (used in) investing activities	0	(4)
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	(2,020)	(1,133)
Other, net	0	0
Net cash provided used in financing activities	(2,020)	(1,133)
Change in cash and restricted cash	(17)	(32)
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	3	2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			3		20	2
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	20	2	3		20	2
Interest:
Third party	(47)	(47)
Intercompany	(1)	1
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	(433)	(8,440)
Cash flows from investing activities:
Sales of investments	45,218	58,592
Sale of divested businesses, net	10	565
Purchase of investments	(45,574)	(49,675)
Loans to subsidiaries - net	(50)	5
Contributions from (to) subsidiaries - net	0	0
Acquisition of businesses, net of cash and restricted cash acquired	311
Net change in short-term investments	1,144	889
Other, net	(836)	(1,488)
Net cash provided by (used in) investing activities	223	8,888
Cash flows from financing activities:
Issuance of long-term debt	1,589	1,297
Repayments of long-term debt	(1,295)	(1,397)
Purchase of common stock	0	0
Intercompany loans - net	(878)	(38)
Cash dividends paid	(931)	(1,187)
Other, net	2,057	1,394
Net cash provided used in financing activities	542	69
Effect of exchange rate changes on cash and restricted cash	8	(22)
Change in cash and restricted cash	340	495
Cash and restricted cash at beginning of year	2,709	2,070
Change in cash of businesses held for sale						133
Cash and restricted cash at end of period	3,049	2,698
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			2,669		2,339	2,428
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	3,049	2,698	3,049		2,709	2,698
Interest:
Third party	(279)	(208)
Intercompany	2	(2)
Taxes:
Income tax authorities	(44)	(166)
Intercompany	(1,084)	(1,852)
Other Subsidiaries | Other Assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			353		316	218
Other Subsidiaries | Short-term investments
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			27		54	52
Reclassification and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(2,957)	(2,320)
Cash flows from investing activities:
Sales of investments	(3,326)	(3,508)
Sale of divested businesses, net	0	0
Purchase of investments	3,326	3,508
Loans to subsidiaries - net	(828)	(43)
Contributions from (to) subsidiaries - net	(22)	(990)
Net change in short-term investments		0
Other, net		0
Net cash provided by (used in) investing activities	(850)	(1,033)
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	828	43
Cash dividends paid	2,957	2,320
Other, net	22	990
Net cash provided used in financing activities	3,807	3,353
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
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) - USD ($) $ / shares in Units, $ in Millions

Oct. 31, 2018

Sep. 28, 2018

Jun. 28, 2018

Mar. 29, 2018

Sep. 29, 2017

Jun. 28, 2017

Mar. 29, 2017

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Dec. 31, 2017

Subsequent Event [Line Items]

Dividends declared per common share

$ 0.32

$ 0.32

$ 0.96

$ 0.96

Aggregate remaining authorization amount of common Stock share repurchase

$ 994

$ 994

$ 6,275

Date Dividends Declared

Aug. 2, 2018

May 2, 2018

Feb. 8, 2018

Aug. 2, 2017

May 3, 2017

Feb. 14, 2017

Date of Shareholders of Record

Sep. 17, 2018

Jun. 14, 2018

Mar. 15, 2018

Sep. 15, 2017

Jun. 14, 2017

Mar. 15, 2017

Subsequent event

Subsequent Event [Line Items]

Dividends declared per common share

$ 0.32

Date Dividends Declared

Oct. 31, 2018

Date Dividends To Be Paid

Dec. 26, 2018

Date of Shareholders of Record

Dec. 12, 2018