American International (AIG) 10-Q 1 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 25, 2019
Entity Listings [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	American International Group, Inc.
Entity Central Index Key	0000005272
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		869,951,606
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	1-8787
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	13-2592361
Entity Address Address Line 1	175 Water Street
Entity Address City Or Town	New York
Entity Address State Or Province	NY
Entity Address Postal Zip Code	10038
City Area Code	212
Local Phone Number	770-7000
Document Quarterly Report	true
Document Transition Report	false
Common Stock
Entity Listings [Line Items]
Security 12b Title	Common Stock, Par Value $2.50 Per Share
Trading Symbol	AIG
Security Exchange Name	NYSE
Warrants
Entity Listings [Line Items]
Security 12b Title	Warrants (expiring January 19, 2021)
Trading Symbol	AIG WS
Security Exchange Name	NYSE
5.75% Series A-2 Junior Sebordinated Debentures
Entity Listings [Line Items]
Security 12b Title	5.75% Series A-2 Junior Subordinated Debentures
Trading Symbol	AIG 67BP
Security Exchange Name	NYSE
4.875% Series A-3 Junior Subordinated Debentures
Entity Listings [Line Items]
Security 12b Title	4.875% Series A-3 Junior Subordinated Debentures
Trading Symbol	AIG 67EU
Security Exchange Name	NYSE
Stock Purchase Rights
Entity Listings [Line Items]
Security 12b Title	Stock Purchase Rights
No Trading Symbol Flag	true
Security Exchange Name	NYSE
Depository Shares Each Representing 1/1,000th Interest in a Share of Series A 5.85% Non-Cumulative Perpetual Preferred Stock
Entity Listings [Line Items]
Security 12b Title	Depositary Shares
Trading Symbol	AIG PRA
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Fixed maturity securities:
Bonds available for sale, at fair value (amortized cost: 2019 - $233,345; 2018 - $225,780)	$ 253,221	$ 229,391
Other bond securities, at fair value (See Note 6)	8,327	11,415
Equity securities, at fair value (See Note 6)	771	1,253
Mortgage and other loans receivable, net of allowance	45,075	43,135
Other invested assets (portion measured at fair value: 2019 - $6,060; 2018 - $5,894)	19,486	19,341
Short-term investments, including restricted cash of $64 in 2019 and $142 in 2018 (portion measured at fair value: 2019 - $5,577; 2018 - $3,015)	14,113	9,674
Total investments	340,993	314,209
Cash	3,361	2,873
Accrued investment income	2,391	2,389
Premiums and other receivables, net of allowance	11,786	11,011
Reinsurance assets, net of allowance	39,483	38,172
Deferred income taxes	13,054	15,221
Deferred policy acquisition costs	11,000	12,694
Other assets, including restricted cash of $345 in 2019 and $343 in 2018 (portion measured at fair value: 2019 - $1,185; 2018 - $973)	13,929	13,568
Separate account assets, at fair value	89,125	81,847
Total assets	525,122	491,984
Liabilities:
Liability for unpaid losses and loss adjustment expenses	79,883	83,639
Unearned premiums	19,959	19,248
Future policy benefits for life and accident and health insurance contracts	50,747	44,935
Policyholder contract deposits (portion measured at fair value: 2019 - $7,166; 2018 - $4,116)	151,964	142,262
Other policyholder funds	3,440	3,568
Other liabilities (portion measured at fair value: 2019 - $1,140; 2018 - $1,265)	27,297	24,636
Long-term debt (portion measured at fair value: 2019 - $2,287; 2018 - $2,213)	35,262	34,540
Separate account liabilities	89,125	81,847
Total liabilities	457,677	434,675
Contingencies, commitments and guarantees (see Note 11)
AIG shareholders' equity:
Series A Non-cumulative preferred stock and additional paid in capital, $5.00 par value; 100,000,000 shares authorized; shares issued: 2019 - 20,000 and 2018 - 0; liquidation preference $500	485	0
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2019 - 1,906,671,492 and 2018 - 1,906,671,492	4,766	4,766
Treasury stock, at cost; 2019 - 1,036,722,246 shares; 2018 - 1,040,062,063 shares of common stock	(48,989)	(49,144)
Additional paid-in capital	81,287	81,268
Retained earnings	22,439	20,884
Accumulated other comprehensive income (loss)	5,615	(1,413)
Total AIG shareholders' equity	65,603	56,361
Non-redeemable noncontrolling interests	1,842	948
Total equity	67,445	57,309
Total liabilities and equity	$ 525,122	$ 491,984

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical - assets and liabilities) - USD ($) $ in Millions	Sep. 30, 2019		Dec. 31, 2018
Assets:
Bonds available for sale, amortized cost	$ 233,345		$ 225,780
Other invested assets, portion measured at fair value	6,060		5,894
Short-term investments, portion measured at fair value	5,577		3,015
Other assets, portion measured at fair value	1,185		973
Liabilities:
Policyholder contract deposits, portion measured at fair value	7,166		4,116
Other liabilities, portion measured at fair value	1,140		1,265
Long-term debt, portion measured at fair value	2,287		2,213
Other assets
Assets:
Short-term investments, restricted cash	345	[1]	343
Short-term investments
Assets:
Short-term investments, restricted cash	$ 64	[1]	$ 142
[1]	Includes funds held for tax sharing payments to AIG Parent, 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, 2019	Dec. 31, 2018
AIG shareholders' equity:
Preferred stock, par value (in dollars per share)	$ 5	$ 0
Preferred stock, shares authorized	100,000,000	0
Preferred stock, shares issued	20,000	0
Preferred stock liquidation preference	$ 500	$ 0
Common stock, par value (in dollars per share)	$ 2.50	$ 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	1,036,722,246	1,040,062,063

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Premiums	$ 7,617	$ 7,668	$ 23,117	$ 22,150
Policy fees	733	530	2,237	2,057
Net investment income	3,408	3,396	11,032	9,722
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities	(15)	(13)	(119)	(116)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income (loss)	(9)	(22)	(18)	(42)
Net other-than-temporary impairments on available for sale securities recognized in net income (loss)	(24)	(35)	(137)	(158)
Other realized capital gains (losses)	953	(476)	1,024	(207)
Net realized capital gains (losses)	929	(511)	887	(365)
Other income	227	403	658	1,265
Total revenues	12,914	11,486	37,931	34,829
Benefits, losses and expenses:
Policyholder benefits and losses incurred	6,892	8,312	19,373	19,484
Interest credited to policyholder account balances	966	933	2,873	2,784
Amortization of deferred policy acquisition costs	1,252	1,118	3,980	3,813
General operating and other expenses	2,187	2,325	6,380	6,919
Interest expense	348	326	1,057	902
(Gain) loss on extinguishment of debt	0	1	13	10
Net (gain) loss on sale of divested businesses	9	(2)	4	(35)
Total benefits, losses and expenses	11,654	13,013	33,680	33,877
Income (loss) from continuing operations before income tax expense (benefit)	1,260	(1,527)	4,251	952
Income tax expense (benefit)	287	(307)	950	291
Income (loss) from continuing operations	973	(1,220)	3,301	661
Loss from discontinued operations, net of income tax expense	0	(39)	(1)	(40)
Net income (loss)	973	(1,259)	3,300	621
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	317	0	881	5
Net income (loss) attributable to AIG	656	(1,259)	2,419	616
Less: Preferred stock dividends	8	0	15	0
Net income (loss) attributable to AIG common shareholders	$ 648	$ (1,259)	$ 2,404	$ 616
Basic:
Income (loss) from continuing operations	$ 0.74	$ (1.37)	$ 2.74	$ 0.72
Income (loss) from discontinued operations	0	(0.04)	0	(0.04)
Net income (loss) attributable to AIG common shareholders	0.74	(1.41)	2.74	0.68
Diluted:
Income (loss) from continuing operations	0.72	(1.37)	2.71	0.71
Income (loss) from discontinued operations	0	(0.04)	0	(0.04)
Net income (loss) attributable to AIG common shareholders	$ 0.72	$ (1.41)	$ 2.71	$ 0.67
Weighted average shares outstanding:
Basic	877,009,495	895,237,359	876,262,372	902,081,555
Diluted	895,814,410	895,237,359	887,221,116	916,818,269

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ 973	$ (1,259)	$ 3,300	$ 621
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	(2)	107	756	(1,089)
Change in unrealized appreciation (depreciation) of all other investments	656	(758)	6,278	(4,222)
Change in foreign currency translation adjustments	(34)	(129)	1	(181)
Change in retirement plan liabilities adjustment	7	14	14	66
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	1	0	(1)	1
Other comprehensive income (loss)	628	(766)	7,048	(5,425)
Comprehensive income (loss)	1,601	(2,025)	10,348	(4,804)
Comprehensive income (loss) attributable to noncontrolling interests	321	0	901	5
Comprehensive income (loss) attributable to AIG	$ 1,280	$ (2,025)	$ 9,447	$ (4,809)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($)	Total	Total AIG Shareholders' Equity	Preferred Stock and Additional Paid-In Capital	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non redeemable Non-controlling Interests
Cumulative effect of change in accounting principle, net of tax	$ (8,000,000)	$ (8,000,000)	$ 0	$ 0	$ 0	$ 0	$ 568,000,000	$ (576,000,000)	$ 0
Balance at Dec. 31, 2017	65,708,000,000	65,171,000,000	0	4,766,000,000	(47,595,000,000)	81,078,000,000	21,457,000,000	5,465,000,000	537,000,000
Common stock issued under stock plans	(150,000,000)	(150,000,000)	0	0	187,000,000	(337,000,000)	0	0	0
Purchase of common stock	(994,000,000)	(994,000,000)	0	0	(994,000,000)	0	0	0	0
Net income (loss) attributable to AIG or other noncontrolling interests	621,000,000	616,000,000	0	0	0	0	616,000,000	0	5,000,000
Dividends on common stock	(858,000,000)	(858,000,000)	0	0	0	0	(858,000,000)	0	0
Other comprehensive income (loss)	(5,425,000,000)	(5,425,000,000)	0	0	0	0	0	(5,425,000,000)	0
Net increase (decrease) due to acquisitions and consolidations	99,000,000	0	0	0	0	0	0	0	99,000,000
Contributions from noncontrolling interests	21,000,000	0	0	0	0	0	0	0	21,000,000
Distributions to noncontrolling interests	(65,000,000)	0	0	0	0	0	0	0	(65,000,000)
Other	228,000,000	234,000,000	0	0	1,000,000	267,000,000	(34,000,000)	0	(6,000,000)
Balance at Sep. 30, 2018	59,177,000,000	58,586,000,000	0	4,766,000,000	(48,401,000,000)	81,008,000,000	21,749,000,000	(536,000,000)	591,000,000
Cumulative effect of change in accounting principle, net of tax	0	0	0	0	0	0	0	0	0
Balance at Jun. 30, 2018	61,797,000,000	61,186,000,000	0	4,766,000,000	(48,052,000,000)	80,924,000,000	23,318,000,000	230,000,000	611,000,000
Common stock issued under stock plans	0	0	0	0	0	0	0	0	0
Purchase of common stock	(348,000,000)	(348,000,000)	0	0	(348,000,000)	0	0	0	0
Net income (loss) attributable to AIG or other noncontrolling interests	(1,259,000,000)	(1,259,000,000)	0	0	0	0	(1,259,000,000)	0	0
Dividends on common stock	(283,000,000)	(283,000,000)	0	0	0	0	(283,000,000)	0	0
Other comprehensive income (loss)	(766,000,000)	(766,000,000)	0	0	0	0	0	(766,000,000)	0
Net increase (decrease) due to acquisitions and consolidations	1,000,000	0	0	0	0	0	0	0	1,000,000
Contributions from noncontrolling interests	18,000,000	0	0	0	0	0	0	0	18,000,000
Distributions to noncontrolling interests	(38,000,000)	0	0	0	0	0	0	0	(38,000,000)
Other	55,000,000	56,000,000	0	0	(1,000,000)	84,000,000	(27,000,000)	0	(1,000,000)
Balance at Sep. 30, 2018	59,177,000,000	58,586,000,000	0	4,766,000,000	(48,401,000,000)	81,008,000,000	21,749,000,000	(536,000,000)	591,000,000
Balance at Dec. 31, 2018	57,309,000,000	56,361,000,000	0	4,766,000,000	(49,144,000,000)	81,268,000,000	20,884,000,000	(1,413,000,000)	948,000,000
Preferred stock issued	485,000,000	485,000,000	485,000,000	0	0	0	0	0	0
Common stock issued under stock plans	(77,000,000)	(77,000,000)	0	0	154,000,000	(231,000,000)	0	0	0
Purchase of common stock	0	0	0	0	0	0	0	0	0
Net income (loss) attributable to AIG or other noncontrolling interests	3,300,000,000	2,419,000,000	0	0	0	0	2,419,000,000	0	881,000,000
Dividends on preferred stock	(15,000,000)	(15,000,000)	0	0	0	0	(15,000,000)	0	0
Dividends on common stock	(835,000,000)	(835,000,000)	0	0	0	0	(835,000,000)	0	0
Other comprehensive income (loss)	7,048,000,000	7,028,000,000	0	0	0	0	0	7,028,000,000	20,000,000
Current and deferred income taxes	0	0	0	0	0	0	0	0	0
Net increase (decrease) due to acquisitions and consolidations	78,000,000	0	0	0	0	0	0	0	78,000,000
Contributions from noncontrolling interests	13,000,000	0	0	0	0	0	0	0	13,000,000
Distributions to noncontrolling interests	(106,000,000)	0	0	0	0	0	0	0	(106,000,000)
Other	245,000,000	237,000,000	0	0	1,000,000	250,000,000	(14,000,000)	0	8,000,000
Balance at Sep. 30, 2019	67,445,000,000	65,603,000,000	485,000,000	4,766,000,000	(48,989,000,000)	81,287,000,000	22,439,000,000	5,615,000,000	1,842,000,000
Balance at Jun. 30, 2019	66,105,000,000	64,539,000,000	485,000,000	4,766,000,000	(48,991,000,000)	81,211,000,000	22,077,000,000	4,991,000,000	1,566,000,000
Preferred stock issued	0	0	0	0	0	0	0	0	0
Common stock issued under stock plans	1,000,000	1,000,000	0	0	1,000,000	0	0	0	0
Purchase of common stock	0	0	0	0	0	0	0	0	0
Net income (loss) attributable to AIG or other noncontrolling interests	973,000,000	656,000,000	0	0	0	0	656,000,000	0	317,000,000
Dividends on preferred stock	(8,000,000)	(8,000,000)	0	0	0	0	(8,000,000)	0	0
Dividends on common stock	(278,000,000)	(278,000,000)	0	0	0	0	(278,000,000)	0	0
Other comprehensive income (loss)	628,000,000	624,000,000	0	0	0	0	0	624,000,000	4,000,000
Current and deferred income taxes	0	0	0	0	0	0	0	0	0
Net increase (decrease) due to acquisitions and consolidations	(18,000,000)	0	0	0	0	0	0	0	(18,000,000)
Contributions from noncontrolling interests	11,000,000	0	0	0	0	0	0	0	11,000,000
Distributions to noncontrolling interests	(37,000,000)	0	0	0	0	0	0	0	(37,000,000)
Other	68,000,000	69,000,000	0	0	1,000,000	76,000,000	(8,000,000)	0	(1,000,000)
Balance at Sep. 30, 2019	67,445,000,000	$ 65,603,000,000	$ 485,000,000	$ 4,766,000,000	$ (48,989,000,000)	$ 81,287,000,000	$ 22,439,000,000	$ 5,615,000,000	$ 1,842,000,000
Cumulative effect of change in accounting principle, net of tax	$ 625,000,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income	$ 3,300,000,000	$ 621,000,000
Loss from discontinued operations	1,000,000	40,000,000
Noncash revenues, expenses, gains and losses included in income (loss):
Net gains on sales of securities available for sale and other assets	(600,000,000)	(71,000,000)
Net (gain) loss on sale of divested businesses	4,000,000	(35,000,000)
Losses on extinguishment of debt	13,000,000	10,000,000
Unrealized (gains) losses in earnings - net	(273,000,000)	601,000,000
Equity in loss from equity method investments, net of dividends or distributions	90,000,000	141,000,000
Depreciation and other amortization	3,833,000,000	3,813,000,000
Impairments of assets	237,000,000	269,000,000
Changes in operating assets and liabilities:
Insurance reserves	(2,146,000,000)	96,000,000
Premiums and other receivables and payables - net	(42,000,000)	968,000,000
Reinsurance assets and funds held under reinsurance treaties	(1,200,000,000)	(2,057,000,000)
Capitalization of deferred policy acquisition costs	(4,181,000,000)	(4,366,000,000)
Current and deferred income taxes - net	757,000,000	224,000,000
Other, net	(582,000,000)	(292,000,000)
Total adjustments	(4,090,000,000)	(699,000,000)
Net cash used in operating activities	(789,000,000)	(38,000,000)
Sales or distribution of:
Available for sale securities	17,498,000,000	18,103,000,000
Other securities	5,230,000,000	3,258,000,000
Other invested assets	3,345,000,000	3,799,000,000
Divested businesses, net	2,000,000	10,000,000
Maturities of fixed maturity securities available for sale	18,165,000,000	18,305,000,000
Principal payments received on and sales of mortgage and other loans receivable	4,233,000,000	3,068,000,000
Purchases of:
Available for sale securities	(41,612,000,000)	(32,807,000,000)
Other securities	(723,000,000)	(940,000,000)
Other invested assets	(2,662,000,000)	(2,263,000,000)
Mortgage and other loans receivable	(6,512,000,000)	(7,918,000,000)
Acquisition of businesses, net of cash and restricted cash acquired	0	(5,052,000,000)
Net change in short-term investments	(4,586,000,000)	2,411,000,000
Other, net	2,829,000,000	(891,000,000)
Net cash used in investing activities	(4,793,000,000)	(917,000,000)
Proceeds from (payments for)
Policyholder contract deposits	17,297,000,000	18,150,000,000
Policyholder contract withdrawals	(12,474,000,000)	(13,004,000,000)
Issuance of long-term debt	2,564,000,000	4,059,000,000
Repayments of long-term debt	(2,421,000,000)	(2,788,000,000)
Issuance of preferred stock	485,000,000	0
Purchase of common stock	0	(994,000,000)
Dividends paid on preferred stock	(15,000,000)	0
Dividends paid on common stock	(835,000,000)	(858,000,000)
Other, net	1,354,000,000	(3,232,000,000)
Net cash provided by financing activities	5,955,000,000	1,333,000,000
Effect of exchange rate changes on cash and restricted cash	39,000,000	8,000,000
Net increase in cash and restricted cash	412,000,000	386,000,000
Cash and restricted cash at beginning of year	3,358,000,000	2,737,000,000
Cash and restricted cash at end of period	$ 3,770,000,000	$ 3,123,000,000

Supplementary Disclosure of Con

Supplementary Disclosure of Condensed Consolidated Cash Flow Information - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Cash		$ 3,361	$ 2,741
Total cash and restricted cash shown in the Condensed Consolidated Cash Flows		3,770	3,123
Cash paid during the period for:
Interest		1,012	1,018
Taxes		193	67
Non-cash investing/financing activities:
Interest credited to policyholder contract deposits included in financing activities		2,507	2,525
Other assets
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash included in Short-term investments	[1]	345	354
Short-term investments
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash included in Short-term investments	[1]	$ 64	$ 28
[1]	Includes funds held for tax sharing payments to AIG Parent, security deposits, and replacement reserve deposits related to our affordable housing investments.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2019
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). 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 financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) and should be read in conjunction with the audited Consolidated Financial Statements and the related notes included in our Annual Report on Form 10-K for the year ended December 31, 2018 (the 2018 Annual Report). The condensed consolidated financial information as of December 31, 2018 included herein has been derived from the audited Consolidated Financial Statements in the 2018 Annual Report. Certain of our foreign subsidiaries included in the Condensed Consolidated Financial Statements report on the basis of fiscal period ending November 30. 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 Condensed 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, 2019 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; • valuation of embedded derivatives for fixed index annuity and life products; • estimated gross profits to value deferred policy acquisition costs for investment-oriented products; • impairment charges, including other-than-temporary impairments on available for sale securities, impairments on other invested assets, including investments in life settlements, and goodwill impairment; • allowances for loan losses; • liability for legal contingencies; • fair value measurements of certain financial assets and liabilities; and • income tax assets and liabilities, including recoverability of our net deferred tax asset and the predictability of future tax operating profitability of the character necessary to realize the net deferred tax asset and estimates associated with the Tax Act. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected. OUT OF PERIOD ADJUSTMENTS For the three- and nine-month periods ended September 30, 2019, our results include out of period adjustments relating to prior periods that decreased net income attributable to AIG common shareholders by $ 134 million and $ 138 million, respectively, and decreased Income from continuing operations before income tax expense by $ 169 million and $ 170 million, respectively. The out of period adjustments for the three-month period are primarily related to increases in policyholder benefits and losses incurred reflecting updated 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, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. Summary of Significant Accounting Policies Accounting Standards Adopted During 2019 Leases In February 2016, the Financial Accounting Standards Board (FASB) issued an accounting standard that requires lessees with lease terms of more than 12 months to recognize a right of use asset and a corresponding lease liability on their balance sheets. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating leases or finance leases. Lessor accounting remained largely the same, with the exception of certain specified changes. We adopted the standard on its effective date of January 1, 2019, using a modified retrospective approach and did not adjust prior comparative periods in accordance with the standard’s transition guidance. The majority of the Company’s lease obligations pertain to real estate utilized in the operation of our businesses. Consequently, the primary impact of adoption resulted in the recognition of discounted lease liabilities of $ 823 million and corresponding right-of-use assets of $ 724 million for operating leases pertaining to our real estate portfolio, which are reflected in Other Liabilities and Other Assets, respectively. The standard did not have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Premium Amortization 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 call date. The standard does not require an accounting change for securities held at a discount, which continue to be amortized to maturity. We adopted the standard using a modified retrospective approach on its effective date of January 1, 2019. The standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Derivatives and Hedging In August 2017, the FASB issued an accounting standard that improves and expands hedge accounting for both financial and commodity risks. The provisions of the standard 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 statements and disclosures, and simplify the application of hedge accounting treatment. We adopted the standard on its effective date of January 1, 2019. The standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Future Application of Accounting Standards Financial Instruments - Credit Losses In June 2016, the FASB issued an accounting standard that will change how entities account for current expected credit losses (CECL) for most financial assets, trade receivables, off-balance sheet exposures and reinsurance receivables. The standard requires an allowance for credit losses based on the expectation of lifetime credit losses related to such financial assets subject to credit losses, including loans measured at amortized cost, reinsurance receivables and certain off-balance sheet credit exposures. Additionally, the impairment of available-for-sale debt securities, including purchased credit deteriorated securities, is 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 allow for reversals of credit impairments in the event that the credit of an issuer improves. The standard also requires additional disclosures. We plan to adopt the standard on its effective date of January 1, 2020 using a modified retrospective method, which requires a cumulative effect adjustment to retained earnings. We are finalizing the development of the credit loss models and related systems, processes and controls. As of September 30, 2019, we currently estimate the CECL allowance to be a reduction in opening retained earnings of approximately $ 625 million (pre-tax) primarily driven by commercial mortgage loans, and, to a lesser extent, reinsurance receivables and recoverables. This estimate will change, perhaps materially, as it is subject to further adjustments based upon ongoing reviews of models, methodologies and judgments. Moreover, the ultimate impact will be dependent on, among other things, our portfolios’ composition at the adoption date, as well as macroeconomic conditions and forecasts, and other management judgments 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 plan to adopt the standard on its effective date of January 1, 2020. Any impact of the standard will be dependent on the market conditions of the reporting units at the time of adoption. 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 standard prescribes significant and comprehensive changes to recognition, measurement, presentation and disclosure as 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, with the recognition and separate presentation of any resulting re-measurement gain or loss (except for discount rate changes as noted below) in the income statement.  Requires the discount rate assumption to be updated at the end of each reporting period using an 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 disclosures 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 impact of those changes. In October 2019, the FASB affirmed its decision to defer the effective date of the standard to January 1, 2022. We plan to adopt the standard on its updated effective date. We have started our implementation efforts and 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. The 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. RECLASSIFICATIONS In the first quarter of 2019, we began reporting investment income from our non-insurance subsidiaries in Net investment income instead of Other income on a prospective basis to be consistent with how we report investment income from our General Insurance and Life and Retirement reporting segments. This reclassification has no impact to our consolidated statements of operations. goodwill Effective July 1, 2019, we changed the date of our annual goodwill impairment testing from December 31 to July 1. This change does not represent a material change to our method of applying current accounting guidance and is preferable as it better aligns with our strategic planning and forecasting process. This change will not delay, accelerate or avoid any impairment charge and was applied prospectively. We performed our annual goodwill impairment tests of all reporting units using a combination of both qualitative and quantitative assessments and concluded that our goodwill was not impaired. Our goodwill balance was $ 4.1 billion at September 30, 2019. For further information on goodwill see Note 12 to the Consolidated Financial Statements in the 2018 Annual Report.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2019
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 includes the results of Validus Reinsurance, Ltd., Western World Insurance Group, Inc. and Glatfelter Insurance Group as of their respective acquisition dates.  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 its acquisition 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 retail mutual funds.  Group Retirement — consists of group mutual funds, group annuities, individual annuity and investment products, and financial planning and advisory services.  Life Insurance — primary products in the U.S. include term life and universal life insurance. International operations include distribution of life and health products in the UK and Ireland.  Institutional Markets — consists of stable value wrap products, structured settlement and pension risk transfer annuities, corporate- and bank-owned life insurance and guaranteed investment contracts (GICs). Other Operations Other Operations category consists of:  Income from assets held by AIG Parent and other corporate subsidiaries.  General operating expenses not attributable to specific reporting segments.  Interest expense.  Blackboard — a subsidiary focused on delivering commercial insurance solutions using digital technology, data analytics and automation. Legacy Portfolio Legacy Portfolio represents exited or discontinued product lines, policy forms or distribution channels. Effective February 2018, our Bermuda domiciled composite reinsurer, Fortitude Reinsurance Company Ltd. (Fortitude Re), is included in our Legacy Portfolio.  Legacy Life and Retirement Run-Off Lines — Reserves 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 performance based on adjusted revenues and adjusted pre-tax income (loss). Adjusted revenues and adjusted pre-tax income (loss) are derived by excluding certain items from total revenues and net income (loss) attributable to AIG, respectively. Beginning in the first quarter of 2019, on a prospective basis, the changes in the fair value of equity securities are excluded from adjusted pre-tax income (loss). For the items excluded from adjusted revenues and adjusted pre-tax income (loss) see the table below. The following table presents AIG’s continuing operations by operating segment: Three Months Ended September 30, 2019 2018 Adjusted Adjusted Total Pre-tax Total Pre-tax (in millions) Revenues Income (Loss) Revenues Income (Loss) General Insurance North America $ 3,878 $ 435 $ 4,129 $ ( 160) International 3,537 72 3,853 ( 665) Total General Insurance 7,415 507 7,982 ( 825) Life and Retirement Individual Retirement 1,416 387 1,335 393 Group Retirement 726 203 718 242 Life Insurance 1,037 ( 7) 809 16 Institutional Markets 654 63 284 62 Total Life and Retirement 3,833 646 3,146 713 Other Operations 211 ( 454) 135 ( 417) Legacy Portfolio 751 93 814 84 AIG Consolidation and elimination ( 153) ( 46) ( 42) 29 Total AIG Consolidated adjusted revenues and adjusted pre-tax income (loss) 12,057 746 12,035 ( 416) Reconciling items from adjusted pre-tax income to pre-tax income (loss): Changes in fair value of securities used to hedge guaranteed living benefits 25 12 ( 5) ( 14) Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains (losses) - ( 65) - 76 Changes in the fair value of equity securities ( 51) ( 51) - - Professional fees related to regulatory or accounting changes - ( 3) - - Other income (expense) - net 16 - ( 4) - Gain (loss) on extinguishment of debt - - - ( 1) Net realized capital gains (losses) * 867 881 ( 540) ( 524) Income (loss) from divested businesses - ( 9) - 2 Non-operating litigation reserves and settlements - ( 5) - ( 5) (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - 59 - ( 605) Net loss reserve discount benefit (charge) - ( 235) - 86 Integration and transaction costs associated with acquired businesses - ( 3) - ( 91) Restructuring and other costs - ( 67) - ( 35) Revenues and Pre-tax income (loss) $ 12,914 $ 1,260 $ 11,486 $ ( 1,527) Nine Months Ended September 30, 2019 2018 Adjusted Adjusted Total Pre-Tax Total Pre-Tax (in millions) Revenues Income (Loss) Revenues Income (Loss) General Insurance North America $ 12,001 $ 2,087 $ 10,895 $ 567 International 10,743 668 11,758 ( 314) Total General Insurance 22,744 2,755 22,653 253 Life and Retirement Individual Retirement 4,233 1,483 4,062 1,354 Group Retirement 2,225 728 2,209 774 Life Insurance 3,264 195 2,962 243 Institutional Markets 2,143 213 838 196 Total Life and Retirement 11,865 2,619 10,071 2,567 Other Operations 625 ( 1,256) 454 ( 1,133) Legacy Portfolio 2,197 324 2,431 363 AIG Consolidation and elimination ( 460) ( 172) ( 214) 28 Total AIG Consolidated adjusted revenues and adjusted pre-tax income 36,971 4,270 35,395 2,078 Reconciling items from adjusted pre-tax income to pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits 214 183 ( 109) ( 127) Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains (losses) - ( 39) - 46 Changes in the fair value of equity securities 6 6 - - Professional fees related to regulatory or accounting changes - ( 5) - - Other income (expense) - net 27 - ( 29) - Loss on extinguishment of debt - ( 13) - ( 10) Net realized capital gains (losses) * 713 758 ( 430) ( 388) Income (loss) from divested businesses - ( 4) - 35 Non-operating litigation reserves and settlements - ( 6) 2 ( 30) (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - 211 - ( 607) Net loss reserve discount benefit (charge) - ( 920) - 305 Integration and transaction costs associated with acquired businesses - ( 16) - ( 91) Restructuring and other costs - ( 174) - ( 259) Revenues and Pre-tax income $ 37,931 $ 4,251 $ 34,829 $ 952 * 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, 2019
BUSINESS COMBINATION
BUSINESS COMBINATION	4. Business Combination On July 18, 2018, we completed the purchase of a 100 percent voting interest in Validus Holdings, Ltd. (Validus), a leading provider of reinsurance, primary insurance, and asset management services, for $ 5.5 billion in cash. 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 to 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 AlphaCat 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 AlphaCat funds, which is approximately $ 128 million at September 30, 2019, in Other Invested Assets in the Condensed Consolidated Balance Sheet. The following unaudited summarized pro forma consolidated income statement information assumes that the acquisition of Validus occurred as of January 1, 2018. 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 applicable 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) 2019 2018* 2019 2018* Total revenues $ 12,914 $ 11,486 $ 37,931 $ 36,028 Net income (loss) 973 ( 1,259) 3,300 576 Net income (loss) attributable to AIG common shareholders 648 ( 1,259) 2,404 571 Income (loss) per common share attributable to AIG common shareholders: Basic: Net income (loss) attributable to AIG common shareholders 0.74 ( 1.41) 2.74 0.63 Diluted: Net income (loss) attributable to AIG common shareholders 0.72 ( 1.41) 2.71 0.62 * 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.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2019
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 Sheets 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. • Level 3: Fair value measurements based on valuation techniques that use significant inputs that are unobservable. Both observable and unobservable inputs may be used to determine the 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 levels 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, 2019 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 $ 684 $ 4,543 $ - $ - $ - $ 5,227 Obligations of states, municipalities and political subdivisions - 13,638 2,107 - - 15,745 Non-U.S. governments 94 15,269 13 - - 15,376 Corporate debt - 150,097 1,275 - - 151,372 RMBS - 19,235 13,560 - - 32,795 CMBS - 13,286 1,050 - - 14,336 CDO/ABS - 9,431 8,939 - - 18,370 Total bonds available for sale 778 225,499 26,944 - - 253,221 Other bond securities: U.S. government and government sponsored entities 10 2,286 - - - 2,296 Non-U.S. governments - - - - - - Corporate debt - 18 - - - 18 RMBS - 482 815 - - 1,297 CMBS - 335 68 - - 403 CDO/ABS - 382 3,931 - - 4,313 Total other bond securities 10 3,503 4,814 - - 8,327 Equity securities 751 12 8 - - 771 Other invested assets (b) - 73 589 - - 662 Derivative assets: Interest rate contracts 1 4,381 - - - 4,382 Foreign exchange contracts - 1,661 1 - - 1,662 Equity contracts 18 676 103 - - 797 Credit contracts - - 1 - - 1 Other contracts - - 15 - - 15 Counterparty netting and cash collateral - - - ( 2,795) ( 2,937) ( 5,732) Total derivative assets 19 6,718 120 ( 2,795) ( 2,937) 1,125 Short-term investments 2,988 2,589 - - - 5,577 Other assets - - 60 - - 60 Separate account assets 84,707 4,418 - - - 89,125 Total $ 89,253 $ 242,812 $ 32,535 $ ( 2,795) $ ( 2,937) $ 358,868 Liabilities: Policyholder contract deposits $ - $ - $ 7,166 $ - $ - $ 7,166 Derivative liabilities: Interest rate contracts 3 2,853 - - - 2,856 Foreign exchange contracts - 940 - - - 940 Equity contracts 12 74 2 - - 88 Credit contracts - 18 103 - - 121 Other contracts - - 8 - - 8 Counterparty netting and cash collateral - - - ( 2,795) ( 133) ( 2,928) Total derivative liabilities 15 3,885 113 ( 2,795) ( 133) 1,085 Other liabilities - 55 - - - 55 Long-term debt - 2,287 - - - 2,287 Total $ 15 $ 6,227 $ 7,279 $ ( 2,795) $ ( 133) $ 10,593 December 31, 2018 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting (a) Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 53 $ 3,207 $ - $ - $ - $ 3,260 Obligations of states, municipalities and political subdivisions - 14,001 2,000 - - 16,001 Non-U.S. governments 69 14,445 11 - - 14,525 Corporate debt - 129,836 864 - - 130,700 RMBS - 20,178 14,199 - - 34,377 CMBS - 11,784 917 - - 12,701 CDO/ABS - 8,725 9,102 - - 17,827 Total bonds available for sale 122 202,176 27,093 - - 229,391 Other bond securities: U.S. government and government sponsored entities 11 2,654 - - - 2,665 Non-U.S. governments - 45 - - - 45 Corporate debt - 1,671 - - - 1,671 RMBS - 424 1,290 - - 1,714 CMBS - 311 77 - - 388 CDO/ABS - 454 4,478 - - 4,932 Total other bond securities 11 5,559 5,845 - - 11,415 Equity securities 1,213 13 27 - - 1,253 Other invested assets (b) - 341 587 - - 928 Derivative assets: Interest rate contracts 2 2,888 - - - 2,890 Foreign exchange contracts - 1,159 5 - - 1,164 Equity contracts 133 190 75 - - 398 Credit contracts - - 1 - - 1 Other contracts - - 15 - - 15 Counterparty netting and cash collateral - - - ( 1,713) ( 1,840) ( 3,553) Total derivative assets 135 4,237 96 ( 1,713) ( 1,840) 915 Short-term investments 2,416 599 - - - 3,015 Other assets - - 58 - - 58 Separate account assets 77,202 4,645 - - - 81,847 Total $ 81,099 $ 217,570 $ 33,706 $ ( 1,713) $ ( 1,840) $ 328,822 Liabilities: Policyholder contract deposits $ - $ - $ 4,116 $ - $ - $ 4,116 Derivative liabilities: Interest rate contracts 4 2,004 15 - - 2,023 Foreign exchange contracts - 858 - - - 858 Equity contracts 12 3 - - - 15 Credit contracts - 8 228 - - 236 Other contracts - - 6 - - 6 Counterparty netting and cash collateral - - - ( 1,713) ( 187) ( 1,900) Total derivative liabilities 16 2,873 249 ( 1,713) ( 187) 1,238 Other liabilities 16 11 - - - 27 Long-term debt - 2,213 - - - 2,213 Total $ 32 $ 5,097 $ 4,365 $ ( 1,713) $ ( 187) $ 7,594 (a) Represents netting of derivative exposures covered by qualifying master netting agreements. (b) Excludes investments that are measured at fair value using the net asset value (NAV) per share (or its equivalent), which totaled $ 5.4 billion and $ 5.0 billion as of September 30, 2019 and December 31, 2018, respectively. Transfers of Level 1 and Level 2 Assets and Liabilities Our policy is to record transfers of assets and liabilities between Level 1 and Level 2 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. Assets are transferred out of Level 1 when they are no longer transacted with 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 transfers of securities issued by non-U.S. government entities from Level 1 to Level 2 in the three-month period ended September 30, 2019. During the nine-month period ended September 30, 2019, we transferred $ 62 million of securities issued by non-U.S. government entities from Level 1 to Level 2, because they are no longer considered actively traded. For similar reasons, during the three- and nine-month periods ended September 30, 2019, we transferred $ 111 million and $ 162 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, 2019. There were no transfers of securities issued by non-U.S. government entities from Level 1 to Level 2 in the three-month period ended September 30, 2018. During the nine-month period ended September 30, 2018, we transferred $ 16 million of securities issued by non-U.S. government entities from Level 1 to Level 2, because they were no longer considered actively traded. For similar reasons, during the three- and nine-month periods ended September 30, 2018, we transferred $ 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. Changes in Level 3 Recurring Fair Value Measurements The following tables present changes during the three- and nine-month periods ended September 30, 2019 and 2018 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realized and unrealized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at September 30, 2019 and 2018: 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, 2019 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,162 $ ( 1) $ 119 $ 92 $ - $ ( 265) $ 2,107 $ - Non-U.S. governments 2 6 - - 5 - 13 - Corporate debt 1,821 ( 36) ( 2) ( 535) 112 ( 85) 1,275 - RMBS 13,863 166 15 ( 418) 16 ( 82) 13,560 - CMBS 1,103 2 32 85 - ( 172) 1,050 - CDO/ABS 9,062 3 37 ( 170) 7 - 8,939 - Total bonds available for sale 28,013 140 201 ( 946) 140 ( 604) 26,944 - Other bond securities: Corporate debt - - - - - - - - RMBS 830 9 - ( 24) - - 815 1 CMBS 88 1 - ( 17) - ( 4) 68 ( 2) CDO/ABS 4,150 115 - ( 334) - - 3,931 28 Total other bond securities 5,068 125 - ( 375) - ( 4) 4,814 27 Equity securities 35 - - ( 29) 2 - 8 ( 2) Mortgage and other loans receivable - - - - - - - - Other invested assets 605 6 - ( 22) - - 589 7 Other assets 61 - - ( 1) - - 60 - Total $ 33,782 $ 271 $ 201 $ ( 1,373) $ 142 $ ( 608) $ 32,415 $ 32 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 $ 6,065 $ 861 $ - $ 240 $ - $ - $ 7,166 $ ( 691) Derivative liabilities, net: Interest rate contracts 16 ( 3) - ( 13) - - - - Foreign exchange contracts ( 4) 6 - ( 3) - - ( 1) - Equity contracts ( 113) 12 - - - - ( 101) ( 13) Credit contracts 173 ( 24) - ( 47) - - 102 14 Other contracts ( 7) ( 17) - 17 - - ( 7) 15 Total derivative liabilities, net (a) 65 ( 26) - ( 46) - - ( 7) 16 Total $ 6,130 $ 835 $ - $ 194 $ - $ - $ 7,159 $ ( 675) 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, 2019 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,000 $ ( 2) $ 321 $ 178 $ 35 $ ( 425) $ 2,107 $ - Non-U.S. governments 11 5 - ( 4) 5 ( 4) 13 - Corporate debt 864 ( 10) 79 ( 600) 1,155 ( 213) 1,275 - RMBS 14,199 575 176 ( 1,234) 83 ( 239) 13,560 - CMBS 917 8 62 381 58 ( 376) 1,050 - CDO/ABS 9,102 15 204 ( 111) 103 ( 374) 8,939 - Total bonds available for sale 27,093 591 842 ( 1,390) 1,439 ( 1,631) 26,944 - Other bond securities: Corporate debt - - - - - - - - RMBS 1,290 69 - ( 544) - - 815 ( 18) CMBS 77 5 - - - ( 14) 68 3 CDO/ABS 4,478 299 - ( 749) - ( 97) 3,931 128 Total other bond securities 5,845 373 - ( 1,293) - ( 111) 4,814 113 Equity securities 27 - - ( 20) 2 ( 1) 8 2 Mortgage and other loans receivable - - - - - - - - Other invested assets 587 24 1 ( 23) - - 589 27 Other assets 58 - - 2 - - 60 - Total $ 33,610 $ 988 $ 843 $ ( 2,724) $ 1,441 $ ( 1,743) $ 32,415 $ 142 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 $ 4,116 $ 2,400 $ - $ 650 $ - $ - $ 7,166 $ ( 2,044) Derivative liabilities, net: Interest rate contracts 15 - - ( 15) - - - 1 Foreign exchange contracts ( 5) ( 4) - 8 - - ( 1) - Equity contracts ( 75) ( 8) - ( 18) - - ( 101) 19 Credit contracts 227 ( 51) - ( 74) - - 102 13 Other contracts ( 9) ( 50) - 52 - - ( 7) 50 Total derivative liabilities, net (a) 153 ( 113) - ( 47) - - ( 7) 83 Total $ 4,269 $ 2,287 $ - $ 603 $ - $ - $ 7,159 $ ( 1,961) 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) Equity securities - 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 (a) 176 ( 39) - 1 - - - 138 30 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 Equity securities - ( 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 (a) 187 ( 84) - 33 - 2 - 138 67 Total $ 4,323 $ ( 1,070) $ - $ 259 $ - $ 2 $ - $ 3,514 $ 1,148 (a) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. Net realized and unrealized gains and losses included in income related to Level 3 assets and liabilities shown above are reported in the Condensed Consolidated Statements of Income as follows: Net Net Realized Investment Capital Other (in millions) Income Gains (Losses) Income Total Three Months Ended September 30, 2019 Assets: Bonds available for sale $ 164 $ ( 24) $ - $ 140 Other bond securities 110 15 - 125 Equity securities - - - - Other invested assets 7 ( 1) - 6 Nine Months Ended September 30, 2019 Assets: Bonds available for sale $ 651 $ ( 60) $ - $ 591 Other bond securities 306 67 - 373 Equity securities - - - - Other invested assets 25 ( 1) - 24 Three Months Ended September 30, 2018 Assets: Bonds available for sale $ 249 $ - $ - $ 249 Other bond securities 35 1 56 92 Equity securities 1 - - 1 Other invested assets - - - - Nine Months Ended September 30, 2018 Assets: Bonds available for sale $ 731 $ ( 112) $ - $ 619 Other bond securities 92 ( 3) 262 351 Equity securities ( 2) - - ( 2) Other invested assets 57 - ( 5) 52 Net Net Realized Investment Capital Other (in millions) Income (Gains) Losses Income Total Three Months Ended September 30, 2019 Liabilities: Policyholder contract deposits $ - $ 861 $ - $ 861 Derivative liabilities, net - ( 11) ( 15) ( 26) Nine Months Ended September 30, 2019 Liabilities: Policyholder contract deposits $ - $ 2,400 $ - $ 2,400 Derivative liabilities, net - ( 64) ( 49) ( 113) Three Months Ended September 30, 2018 Liabilities: Policyholder contract deposits $ - $ ( 242) $ - $ ( 242) Derivative liabilities, net - ( 1) ( 38) ( 39) Nine Months Ended September 30, 2018 Liabilities: Policyholder contract deposits $ - $ ( 986) $ - $ ( 986) Derivative liabilities, net - ( 3) ( 81) ( 84) The following table presents the gross components of purchases, sales, issuances and settlements, net, shown above, for the three- and nine-month periods ended September 30, 2019 and 2018 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, 2019 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 109 $ - $ ( 17) $ 92 Non-U.S. governments - - - - Corporate debt 1 ( 128) ( 408) ( 535) RMBS 253 - ( 671) ( 418) CMBS 92 - ( 7) 85 CDO/ABS 458 ( 198) ( 430) ( 170) Total bonds available for sale 913 ( 326) ( 1,533) ( 946) Other bond securities: RMBS - - ( 24) ( 24) CMBS - ( 16) ( 1) ( 17) CDO/ABS - ( 153) ( 181) ( 334) Total other bond securities - ( 169) ( 206) ( 375) Equity securities - - ( 29) ( 29) Mortgage and other loans receivable - - - - Other invested assets 21 - ( 43) ( 22) Other assets - - ( 1) ( 1) Total assets $ 934 $ ( 495) $ ( 1,812) $ ( 1,373) Liabilities: Policyholder contract deposits $ - $ 240 $ - $ 240 Derivative liabilities, net ( 7) - ( 39) ( 46) Total liabilities $ ( 7) $ 240 $ ( 39) $ 194 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) Equity securities 24 - - 24 Mortgage and other loans receivable - - - - Other invested assets - - ( 1) ( 1) Other assets - - - - Total assets $ 624 $ ( 61) $ ( 1,329) $ ( 766) Liabilities: Policyholder contract deposits $ - $ 148 $ ( 64) $ 84 Derivative liabilities, net ( 18) - 19 1 Total liabilities $ ( 18) $ 148 $ ( 45) $ 85 Issuances Purchases, Sales, and Issuances and (in millions) Purchases Sales Settlements (a) Settlements, Net (a) Nine Months Ended September 30, 2019 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 243 $ ( 16) $ ( 49) $ 178 Non-U.S. governments - - ( 4) ( 4) Corporate debt 58 ( 129) ( 529) ( 600) RMBS 860 ( 26) ( 2,068) ( 1,234) CMBS 455 - ( 74) 381 CDO/ABS 1,628 ( 508) ( 1,231) ( 111) Total bonds available for sale 3,244 ( 679) ( 3,955) ( 1,390) Other bond securities: RMBS - ( 437) ( 107) ( 544) CMBS 18 ( 16) ( 2) - CDO/ABS - ( 153) ( 596) ( 749) Total other bond securities 18 ( 606) ( 705) ( 1,293) Equity securities 9 - ( 29) ( 20) Mortgage and other loans receivable - - - - Other invested assets 64 - ( 87) ( 23) Other assets - - 2 2 Total assets $ 3,335 $ ( 1,285) $ ( 4,774) $ ( 2,724) Liabilities: Policyholder contract deposits $ - $ 616 $ 34 $ 650 Derivative liabilities, net ( 29) - ( 18) ( 47) Total liabilities $ ( 29) $ 616 $ 16 $ 603 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) Equity securities 27 - - 27 Mortgage and other loans receivable - ( 5) - ( 5) Other invested assets 153 ( 29) ( 29) 95 Other assets - - - - Total assets $ 2,551 $ ( 1,272) $ ( 4,730) $ ( 3,451) Liabilities: Policyholder contract deposits $ - $ 391 $ ( 165) $ 226 Derivative liabilities, net ( 37) - 70 33 Total liabilities $ ( 37) $ 391 $ ( 95) $ 259 (a) There were no issuances during the three- and nine-month periods ended September 30, 2019 and 2018. 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, 2019 and 2018 may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable inputs (e.g., changes in unobservable long-dated volatilities). Transfers of Level 3 Assets and Liabilities We record transfers of assets and liabilities into or out of Level 3 classification at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. The Net realized and unrealized gains (losses) included in income or Other comprehensive income (loss) as shown in the table above excludes $( 40) million of net losses related to assets and liabilities transferred into Level 3 during the nine-month period ended September 30, 2019, and includes $ 24 million and $ 28 million of net gains related to assets and liabilities transferred out of Level 3 during the three- and nine-month periods ended September 30, 2019, respectively. The Net realized and unrealized gains (losses) included in income or Other comprehensive income (loss) as shown in the table above excludes $ 17 million and $ 41 million of net gains related to assets and liabilities transferred into Level 3 during the three- and nine-month periods ended September 30, 2018, respectively, and includes $ 2 million and $( 20) million of net gains (losses) related to assets and liabilities transferred out of Level 3 during the three- and nine-month periods ended September 30, 2018, respectively. Transfers of Level 3 Assets During the three- and nine-month periods ended September 30, 2019 and 2018, 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 diminished market transparency and liquidity for individual security types. During the three- and nine-month periods ended September 30, 2019 and 2018, transfers out of Level 3 assets primarily included private placement and other corporate debt, CMBS, RMBS, CDO/ABS and certain investments in municipal securities. Transfers of certain investments in municipal securities, corporate debt, RMBS, CMBS and CDO/ABS out of Level 3 assets were based on consideration of market liquidity as well as related transparency of pricing and associated observable inputs for these investments. Transfers of certain investments in private placement corporate debt and certain ABS out of Level 3 assets were primarily the result of using observable pricing information that reflects the fair value of those securities without the need for adjustment based on our own assumptions regarding the characteristics of a specific security or the current liquidity in the market. Transfers of Level 3 Liabilities There were no significant transfers of derivative or other liabilities into or out of Level 3 for the three- and nine-month periods ended September 30, 2019 and 2018. 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 instruments (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) 2019 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,590 Discounted cash flow Yield 3.12% - 3.74% ( 3.43%) Corporate debt 781 Discounted cash flow Yield 2.95% - 7.03% ( 4.99%) RMBS (a) 12,350 Discounted cash flow Constant prepayment rate 3.87% - 12.23% ( 8.05%) Loss severity 36.65% - 78.25% ( 57.45%) Constant default rate 1.81% - 6.41% ( 4.11%) Yield 2.29% - 4.47% ( 3.38%) CDO/ABS (a) 5,903 Discounted cash flow Yield 2.73% - 4.75% ( 3.74%) CMBS 499 Discounted cash flow Yield 2.48% - 4.82% ( 3.65%) Liabilities: Embedded derivatives within Policyholder contract deposits: Guaranteed minimum withdrawal benefits (GMWB) 3,168 Discounted cash flow Equity volatility 6.15% - 48.65% Base lapse rate 0.16% - 12.60% Dynamic lapse multiplier 50.00% - 143.00% Mortality multiplier (c) 38.00% - 155.00% Utilization 90.00% - 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 3,470 Discounted cash flow Lapse rate 0.31% - 50.00% Mortality multiplier (c) 24.00% - 180.00% Option Budget 1.00% - 4.00% Indexed Life 502 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Fair Value at December 31, Valuation Range (in millions) 2018 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,473 Discounted cash flow Yield 3.91% - 5.00% ( 4.46%) Corporate debt 445 Discounted cash flow Yield 4.35% - 5.99% ( 5.17%) RMBS (a) 13,608 Discounted cash flow Constant prepayment rate 4.58% - 14.00% ( 9.29%) Loss severity 39.66% - 74.40% ( 57.03%) Constant default rate 2.46% - 7.39% ( 4.92%) Yield 3.31% - 5.50% ( 4.40%) CDO/ABS (a) 5,461 Discounted cash flow Yield 3.65% - 5.10% ( 4.37%) CMBS 447 Discounted cash flow Yield 3.29% - 6.07% ( 4.68%) Liabilities: Embedded derivatives within Policyholder contract deposits: GMWB 1,943 Discounted cash flow Equity volatility 6.05% - 47.65% 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 1,778 Discounted cash flow Lapse rate 0.50% - 40.00% Mortality multiplier (c) 42.00% - 162.00% Option Budget 1.00% - 3.00% Indexed Life 374 Discounted cash flow Base lapse rate 0.00% - 13.00% Mortality rate 0.00% - 100.00% (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 tranches purchased by us, because there are other factors relevant to the fair values of specific tranches owned by us including, but not limited to, purchase price, position in the waterfall, senior versus subordinated position and attachment points. (b) Represents discount rates, estimates and assumptions that we believe would be used by market participants when valuing these assets and liabilities. (c) Mortality inputs are shown as multipliers of the 2012 Individual Annuity Mortality Basic table. The ranges of reported inputs for Obligations of states, municipalities and political subdivisions, Corporate debt, RMBS, CDO/ABS, and CMBS valued using a discounted cash flow technique consist of one standard deviation in either direction from the value-weighted average. The preceding table does not give effect to our risk management practices that might offset risks inherent in these Level 3 assets and liabilities. Sensitivity to Changes in Unobservable Inputs We consider unobservable inputs to be those for which market data is not available and that are developed using the best information available to us about the assumptions that market participants would use when pricing the asset or liability. Relevant inputs vary depending on the nature of the instrument being measured at fair value. The following paragraphs provide a general description of sensitivities of significant unobservable inputs along with interrelationships between and among the significant unobservable inputs and their impact on the fair value measurements. The effect of a change in a particular assumption in the sensitivity analysis below is considered independently of changes in any other assumptions. In practice, simultaneous changes in assumptions may not always have a linear effect on the inputs discussed below. Interrelationships may also exist between observable and unobservable inputs. Such rel

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2019
INVESTMENTS
INVESTMENTS	6. Investments Securities Available for Sale The following table presents the amortized cost or cost and fair value of our available for sale securities: Other-Than- Amortized Gross Gross Temporary Cost or Unrealized Unrealized Fair Impairments (in millions) Cost Gains Losses Value in AOCI (a) September 30, 2019 Bonds available for sale: U.S. government and government sponsored entities $ 4,727 $ 501 $ ( 1) $ 5,227 $ - Obligations of states, municipalities and political subdivisions 14,122 1,640 ( 17) 15,745 - Non-U.S. governments 14,456 999 ( 79) 15,376 - Corporate debt 138,950 12,956 ( 534) 151,372 9 Mortgage-backed, asset-backed and collateralized: RMBS 29,513 3,344 ( 62) 32,795 1,222 CMBS 13,577 771 ( 12) 14,336 34 CDO/ABS 18,000 449 ( 79) 18,370 17 Total mortgage-backed, asset-backed and collateralized 61,090 4,564 ( 153) 65,501 1,273 Total bonds available for sale (b) $ 233,345 $ 20,660 $ ( 784) $ 253,221 $ 1,282 December 31, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 3,170 $ 132 $ ( 42) $ 3,260 $ - Obligations of states, municipalities and political subdivisions 15,421 701 ( 121) 16,001 4 Non-U.S. governments 14,376 451 ( 302) 14,525 - Corporate debt 130,436 3,911 ( 3,647) 130,700 4 Mortgage-backed, asset-backed and collateralized: RMBS 31,940 2,754 ( 317) 34,377 1,155 CMBS 12,673 242 ( 214) 12,701 31 CDO/ABS 17,764 228 ( 165) 17,827 17 Total mortgage-backed, asset-backed and collateralized 62,377 3,224 ( 696) 64,905 1,203 Total bonds available for sale (b) $ 225,780 $ 8,419 $ ( 4,808) $ 229,391 $ 1,211 (a) 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 subsequent to the impairment measurement date. (b) At September 30, 2019 and December 31, 2018, bonds available for sale held by us that were below investment grade or not rated totaled $ 28.0 billion and $ 28.8 billion, respectively. Securities Available for Sale in a Loss Position The following table summarizes the fair value and gross unrealized losses on our available for sale securities, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position: Less than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (in millions) Value Losses Value Losses Value Losses September 30, 2019 Bonds available for sale: U.S. government and government sponsored entities $ 136 $ 1 $ 43 $ - $ 179 $ 1 Obligations of states, municipalities and political subdivisions 383 6 256 11 639 17 Non-U.S. governments 919 27 443 52 1,362 79 Corporate debt 8,794 294 3,244 240 12,038 534 RMBS 2,671 23 1,778 39 4,449 62 CMBS 640 4 343 8 983 12 CDO/ABS 3,979 51 1,892 28 5,871 79 Total bonds available for sale $ 17,522 $ 406 $ 7,999 $ 378 $ 25,521 $ 784 December 31, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 574 $ 13 $ 873 $ 29 $ 1,447 $ 42 Obligations of states, municipalities and political subdivisions 1,965 51 1,530 70 3,495 121 Non-U.S. governments 3,851 149 2,422 153 6,273 302 Corporate debt 47,364 2,181 20,056 1,466 67,420 3,647 RMBS 5,231 94 5,641 223 10,872 317 CMBS 2,646 47 4,264 167 6,910 214 CDO/ABS 9,169 144 1,324 21 10,493 165 Total bonds available for sale $ 70,800 $ 2,679 $ 36,110 $ 2,129 $ 106,910 $ 4,808 At September 30, 2019, we held 5,266 individual fixed maturity securities that were in an unrealized loss position, of which 1,361 individual fixed maturity securities were in a continuous unrealized loss position for 12 months or more. We did not recognize the unrealized losses in earnings on these fixed maturity securities at September 30, 2019 because we neither intend to sell the securities nor do we believe that it is more likely than not that we will be required to sell these securities before recovery of their amortized cost basis. For fixed maturity securities with significant declines, we performed fundamental credit analyses on a security-by-security basis, which included consideration of credit enhancements, expected defaults on underlying collateral, review of relevant industry analyst reports and forecasts and other available 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, 2019 Due in one year or less $ 10,910 $ 11,107 $ 1,373 $ 1,339 Due after one year through five years 45,243 46,583 5,878 5,631 Due after five years through ten years 43,042 45,877 3,947 3,756 Due after ten years 73,060 84,153 3,651 3,492 Mortgage-backed, asset-backed and collateralized 61,090 65,501 11,456 11,303 Total $ 233,345 $ 253,221 $ 26,305 $ 25,521 December 31, 2018 Due in one year or less $ 9,539 $ 9,674 $ 2,322 $ 2,294 Due after one year through five years 47,400 47,905 17,382 16,844 Due after five years through ten years 42,363 42,045 27,724 26,517 Due after ten years 64,101 64,862 35,319 32,980 Mortgage-backed, asset-backed and collateralized 62,377 64,905 28,971 28,275 Total $ 225,780 $ 229,391 $ 111,718 $ 106,910 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 maturities of our available for sale securities: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 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 $ 198 $ 70 $ 82 $ 71 $ 464 $ 280 $ 252 $ 244 Equity securities - - - - - - 16 - Total $ 198 $ 70 $ 82 $ 71 $ 464 $ 280 $ 268 $ 244 For the three- and nine-month periods ended September 30, 2019, the aggregate fair value of available for sale securities sold was $ 4.5 billion and $ 17.3 billion, respectively, which resulted in net realized capital gains of $ 128 million and $ 184 million, respectively. 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. 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, 2019 December 31, 2018 Fair Percent Fair Percent (in millions) Value of Total Value of Total Fixed maturity securities: U.S. government and government sponsored entities $ 2,296 25 % $ 2,665 21 % Non-U.S. governments - - 45 - Corporate debt 18 - 1,671 13 Mortgage-backed, asset-backed and collateralized : RMBS 1,297 14 1,714 14 CMBS 403 5 388 3 CDO/ABS and other collateralized * 4,313 47 4,932 39 Total mortgage-backed, asset-backed and collateralized 6,013 66 7,034 56 Total fixed maturity securities 8,327 91 11,415 90 Equity securities 771 9 1,253 10 Total $ 9,098 100 % $ 12,668 100 % * There were no U.S. government agency-backed ABS at September 30, 2019. Includes $ 178 million of U.S. government agency-backed ABS at December 31, 2018. Other Invested Assets The following table summarizes the carrying amounts of other invested assets: September 30, December 31, (in millions) 2019 2018 Alternative investments (a) (b) $ 8,532 $ 8,966 Investment real estate (c) 9,491 8,935 All other investments 1,463 1,440 Total $ 19,486 $ 19,341 (a) At September 30, 2019, included hedge funds of $ 3.5 billion, private equity funds of $ 4.7 billion and affordable housing partnerships of $ 336 million. At December 31, 2018, included hedge funds of $ 4.2 billion, private equity funds of $ 4.3 billion and affordable housing partnerships of $ 438 million. (b) At September 30, 2019, approximately 70 percent of our hedge fund portfolio is available for redemption in 2019. The remaining 30 percent will be available for redemption between 2020 and 2027. (c) Net of accumulated depreciation of $ 710 million and $ 598 million at September 30, 2019 and December 31, 2018, respectively. Net Investment Income The following table presents the components of Net investment income: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2019 2018 2019 2018 Available for sale fixed maturity securities, including short-term investments $ 2,698 $ 2,629 $ 8,052 $ 7,775 Other fixed maturity securities (a) 333 60 941 29 Equity securities ( 51) ( 21) 6 ( 50) Interest on mortgage and other loans 495 455 1,511 1,352 Alternative investments (b) 115 329 879 837 Real estate 96 72 227 133 Other investments (a) ( 143) ( 13) ( 203) 11 Total investment income 3,543 3,511 11,413 10,087 Investment expenses 135 115 381 365 Net investment income $ 3,408 $ 3,396 $ 11,032 $ 9,722 (a) In the third quarter of 2019, we reclassified $ 96 million in net investment income of bonds recorded at fair value from Other investments to Other fixed maturity securities. (b) Includes income from hedge funds, private equity funds and affordable housing partnerships. Hedge funds are recorded as of the balance sheet date. 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) 2019 2018 2019 2018 Sales of fixed maturity securities $ 128 $ 11 $ 184 $ 8 Sales of equity securities - - - 16 Other-than-temporary impairments: Change in intent - ( 3) ( 3) ( 52) Foreign currency declines ( 6) ( 1) ( 15) ( 13) Issuer-specific credit events ( 17) ( 30) ( 113) ( 92) Adverse projected cash flows ( 1) ( 1) ( 6) ( 1) Provision for loan losses ( 25) ( 23) ( 35) ( 73) Foreign exchange transactions ( 203) ( 21) ( 242) ( 155) Variable annuity embedded derivatives, net of related hedges 311 ( 185) 10 ( 2) All other derivatives and hedge accounting 466 ( 1) 601 149 Loss on sale of private equity funds - ( 311) - ( 311) Other 276 54 506 161 Net realized capital gains (losses) $ 929 $ ( 511) $ 887 $ ( 365) 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) 2019 2018 2019 2018 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ 4,377 $ ( 920) $ 16,265 $ ( 8,858) Other investments - ( 31) ( 68) ( 59) Total increase (decrease) in unrealized appreciation (depreciation) of investments $ 4,377 $ ( 951) $ 16,197 $ ( 8,917) The following table summarizes the unrealized gains and losses recognized in Net Investment Income during the reporting period on equity securities still held at the reporting date: Three Months Ended September 30, 2019 2018 Other Other Invested Invested (in millions) Equities Assets Total Equities Assets Total Net gains and losses recognized during the period on equity securities $ ( 51) $ 105 $ 54 $ ( 13) $ 183 $ 170 Less: Net gains and losses recognized during the period on equity securities sold during the period 18 13 31 28 18 46 Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ ( 69) $ 92 $ 23 $ ( 41) $ 165 $ 124 Nine Months Ended September 30, 2019 2018 Other Other Invested Invested (in millions) Equities Assets Total Equities Assets Total Net gains and losses recognized during the period on equity securities $ 6 $ 615 $ 621 $ ( 41) $ 497 $ 456 Less: Net gains and losses recognized during the period on equity securities sold during the period 30 169 199 34 45 79 Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ ( 24) $ 446 $ 422 $ ( 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 2018 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) 2019 2018 2019 2018 Balance, beginning of period $ 34 $ 188 $ - $ 526 Increases due to: Credit impairments on new securities subject to impairment losses 10 15 105 32 Additional credit impairments on previously impaired securities 8 16 14 61 Reductions due to: Credit impaired securities fully disposed for which there was no prior intent or requirement to sell ( 3) ( 12) ( 62) ( 143) Accretion on securities previously impaired due to credit * ( 7) ( 164) ( 15) ( 433) Balance, end of period $ 42 $ 43 $ 42 $ 43 * 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 difference 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 flows 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 the 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 recognized prospectively as adjustments to the accretable yield. The following tables present information on our PCI securities, which are included in bonds available for sale: (in millions) At Date of Acquisition Contractually required payments (principal and interest) $ 35,522 Cash flows expected to be collected * 29,095 Recorded investment in acquired securities 19,648 * Represents undiscounted expected cash flows, including both principal and interest. (in millions) September 30, 2019 December 31, 2018 Outstanding principal balance $ 11,016 $ 12,495 Amortized cost 7,434 8,646 Fair value 9,171 10,280 The following table presents activity for the accretable yield on PCI securities: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2019 2018 2019 2018 Balance, beginning of period $ 6,402 $ 7,461 $ 7,210 $ 7,501 Newly purchased PCI securities 4 5 17 32 Accretion ( 172) ( 176) ( 495) ( 553) Effect of changes in interest rate indices ( 278) 15 ( 678) 189 Net reclassification from (to) non-accretable difference, including effects of prepayments ( 162) 93 ( 260) 229 Balance, end of period $ 5,794 $ 7,398 $ 5,794 $ 7,398 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 agreements). 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 fair value of the pledged collateral under these secured financing transactions, we may be required to transfer cash or additional securities as pledged collateral under these agreements. At the termination of the transactions, we and 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 agreements: (in millions) September 30, 2019 December 31, 2018 Fixed maturity securities available for sale $ 2,781 $ 1,050 Other bond securities, at fair value $ - $ 122 At September 30, 2019 and December 31, 2018, amounts borrowed under repurchase and securities lending agreements totaled $ 2.8 billion and $ 1.2 billion, respectively. The following table presents the fair value of securities pledged under our repurchase agreements by collateral type and by remaining contractual maturity: Remaining Contractual Maturity of the Agreements (in millions) Overnight and Continuous up to 30 days 31 - 90 days 91 - 364 days 365 days or greater Total September 30, 2019 Bonds available for sale: Non-U.S. governments $ 64 $ 61 $ - $ - $ - $ 125 Corporate debt 28 104 - - - 132 Other bond securities: U.S. government and government sponsored entities - - - - - - Non-U.S. governments - - - - - - Corporate debt - - - - - - Total $ 92 $ 165 $ - $ - $ - $ 257 December 31, 2018 Bonds available for sale: Non-U.S. governments $ 25 $ 35 $ - $ - $ - $ 60 Corporate debt 51 55 - - - 106 Other bond securities: U.S. government and government sponsored entities 11 - - - - 11 Non-U.S. governments - 3 - - - 3 Corporate debt 17 38 53 - - 108 Total $ 104 $ 131 $ 53 $ - $ - $ 288 The following table presents the fair value of securities pledged under our securities lending 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, 2019 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ - $ - $ 262 $ 128 $ - $ 390 Non-U.S. governments - - - - - - Corporate debt - 1,062 635 437 - 2,134 Total $ - $ 1,062 $ 897 $ 565 $ - $ 2,524 December 31, 2018 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ - $ 50 $ 130 $ - $ - $ 180 Non-U.S. governments - 21 8 - - 29 Corporate debt - 330 345 - - 675 Total $ - $ 401 $ 483 $ - $ - $ 884 We also enter into agreements in which securities are purchased by us under agreements to resell (reverse repurchase agreements), which are accounted for as secured financing transactions and reported as short-term investments or other assets, depending on their terms. These agreements are recorded at their contracted resale amounts plus accrued interest, other than those that 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, 2019 December 31, 2018 Securities collateral pledged to us $ 2,075 $ 426 Amount sold or repledged by us 35 106 At September 30, 2019 and December 31, 2018, amounts loaned under reverse repurchase agreements totaled $ 2.1 billion and $ 426 million, 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 $ 8.4 billion and $ 7.9 billion at September 30, 2019 and December 31, 2018, respectively. Other Pledges and Restrictions Certain of our subsidiaries are members of Federal Home Loan Banks (FHLBs) and such membership requires the members to own stock in these FHLBs. We owned an aggregate of $ 194 million and $ 202 million of stock in FHLBs at September 30, 2019 and December 31, 2018, 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 $ 4.6 billion and $ 1.9 billion, respectively, at September 30, 2019 and $ 4.2 billion and $ 2.1 billion, respectively, at December 31, 2018. 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 downgrades, and the aggregate amount of payments that we could be required to make, depend on market conditions, the fair value of outstanding affected transactions and other factors prevailing at and after the time of the downgrade. The fair value of securities pledged as collateral with respect to these obligations was approximately $ 1.6 billion at both September 30, 2019 and December 31, 2018. This collateral primarily consists of securities of the U.S. government and government sponsored entities and generally cannot be repledged or resold by the counterparties. Investments held in escrow accounts or otherwise subject to restriction as to their use were $ 273 million, comprised of bonds available for sale and short term investments at both September 30, 2019 and December 31, 2018.

LENDING ACTIVITIES

LENDING ACTIVITIES	9 Months Ended
	Sep. 30, 2019
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) 2019 2018 Commercial mortgages * $ 34,954 $ 32,882 Residential mortgages 6,525 6,532 Life insurance policy loans 2,096 2,147 Commercial loans, other loans and notes receivable 1,930 1,971 Total mortgage and other loans receivable 45,505 43,532 Allowance for credit losses ( 430) ( 397) Mortgage and other loans receivable, net $ 45,075 $ 43,135 * 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 percent and percent, respectively, at both September 30, 2019 and December 31, 2018). Credit Quality 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, 2019 Loan-to-Value Ratios (b) Less than 65% $ 20,822 $ 2,771 $ 173 $ 23,766 65% to 75% 9,744 677 93 10,514 76% to 80% 173 19 13 205 Greater than 80% 182 143 144 469 Total commercial mortgages $ 30,921 $ 3,610 $ 423 $ 34,954 December 31, 2018 Loan-to-Value Ratios (b) Less than 65% $ 19,204 $ 2,543 $ 250 $ 21,997 65% to 75% 9,060 300 203 9,563 76% to 80% 476 20 15 511 Greater than 80% 596 103 112 811 Total commercial mortgages $ 29,336 $ 2,966 $ 580 $ 32,882 (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 1.9X for both periods ended September 30, 2019 and December 31, 2018. (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 weighted average loan-to-value ratio was 57 percent and 58 percent at September 30, 2019 and December 31, 2018, respectively. The following table presents the credit quality performance indicators for commercial mortgages: Number Percent of Class of (dollars in millions) Loans Apartments Offices Retail Industrial Hotel Others Total (c) Total $ September 30, 2019 Credit Quality Performance Indicator: In good standing 747 $ 13,263 $ 9,903 $ 5,479 $ 3,348 $ 2,337 $ 519 $ 34,849 100 % Restructured (a) 2 - 90 - - 15 - 105 - 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 749 $ 13,263 $ 9,993 $ 5,479 $ 3,348 $ 2,352 $ 519 $ 34,954 100 % Allowance for credit losses: Specific $ - $ 2 $ 1 $ - $ 6 $ - $ 9 - % General 93 141 44 28 15 5 326 1 Total allowance for credit losses $ 93 $ 143 $ 45 $ 28 $ 21 $ 5 $ 335 1 % December 31, 2018 Credit Quality Performance Indicator: In good standing 762 $ 11,190 $ 9,774 $ 5,645 $ 3,074 $ 2,507 $ 580 $ 32,770 100 % Restructured (a) 2 - 96 - - 16 - 112 - 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 764 $ 11,190 $ 9,870 $ 5,645 $ 3,074 $ 2,523 $ 580 $ 32,882 100 % Allowance for credit losses: Specific $ - $ 2 $ - $ - $ 1 $ - $ 3 - % General 122 104 51 13 19 6 315 1 Total allowance for credit losses $ 122 $ 106 $ 51 $ 13 $ 20 $ 6 $ 318 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 2018 Annual Report. (b) Does not reflect allowance for credit losses. (c) Our commercial mortgage loan portfolio is current as to payments of principal and interest, 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 2018 Annual Report. The following table presents a rollforward of the changes in the allowance for losses on Mortgage and other loans receivable: Nine Months Ended September 30, 2019 2018 Commercial Other Commercial Other (in millions) Mortgages Loans Total Mortgages Loans Total Allowance, beginning of year $ 318 $ 79 $ 397 $ 247 $ 75 $ 322 Loans charged off ( 2) - ( 2) ( 17) - ( 17) Recoveries of loans previously charged off - - - - - - Net charge-offs ( 2) - ( 2) ( 17) - ( 17) Provision for loan losses 19 16 35 66 8 74 Allowance, end of period $ 335 * $ 95 $ 430 $ 296 * $ 83 $ 379 * Of the total allowance, $ 10 million and $ 3 million relate to individually assessed credit losses on $ 151 million and $ 25 million of commercial mortgages at September 30, 2019 and 2018, respectively. There were no 15 million were modified in troubled debt restructurings.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2019
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 related risks the entity was designed to expose the variable interest holders to. The primary beneficiary is the entity that has both (1) the power to direct the activities of the VIE that most significantly affect the entity’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be 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 influence activities that significantly affect the economic performance of the VIE. Balance Sheet Classification and Exposure to Loss The following table presents the total assets and total liabilities associated with our variable interests in consolidated VIEs, as classified in the Condensed Consolidated Balance Sheets: Real Estate and Affordable Investment Securitization Housing (in millions) Entities (d) Vehicles (e) Partnerships Other Total September 30, 2019 Assets: Bonds available for sale $ 211 $ 7,217 $ - $ - $ 7,428 Other bond securities - 3,641 - - 3,641 Mortgage and other loans receivable - 3,520 - - 3,520 Other invested assets 5,774 - 3,518 33 9,325 Other (a) 444 1,934 498 49 2,925 Total assets (b) $ 6,429 $ 16,312 $ 4,016 $ 82 $ 26,839 Liabilities: Long-term debt $ 3,194 $ 3,720 $ 2,121 $ 4 $ 9,039 Other (c) 400 156 184 23 763 Total liabilities $ 3,594 $ 3,876 $ 2,305 $ 27 $ 9,802 December 31, 2018 Assets: Bonds available for sale $ - $ 7,662 $ - $ - $ 7,662 Other bond securities - 3,923 - 2 3,925 Mortgage and other loans receivable - 3,693 - - 3,693 Other invested assets 5,212 - 3,142 24 8,378 Other (a) 580 1,581 394 70 2,625 Total assets (b) $ 5,792 $ 16,859 $ 3,536 $ 96 $ 26,283 Liabilities: Long-term debt $ 2,577 $ 3,154 $ 1,834 $ 4 $ 7,569 Other (c) 227 165 159 24 575 Total liabilities $ 2,804 $ 3,319 $ 1,993 $ 28 $ 8,144 (a) Comprised primarily of Short-term investments and Other assets at September 30, 2019 and December 31, 2018. (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, 2019 and December 31, 2018. (d) At September 30, 2019 and December 31, 2018, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $ 2.7 billion and $ 1.4 billion, respectively. (e) At September 30, 2019 and December 31, 2018, $ 15.5 billion and $ 16.0 billion, respectively, of the total assets of consolidated securitization vehicles were owed to AIG Parent or its subsidiaries. We calculate our maximum exposure to loss to be (i) the amount invested in the debt or equity of the VIE, (ii) the notional amount of VIE assets or liabilities where we have also provided credit protection to the VIE with the VIE as the referenced obligation, and (iii) other commitments and guarantees to the VIE. Interest holders in VIEs sponsored by us generally have recourse only to the assets and cash flows of the VIEs and do not have recourse to us, except in limited circumstances when we have provided a guarantee to the VIE’s interest holders. The following table presents total assets of unconsolidated VIEs in which we hold a variable interest, as well as our maximum exposure to loss associated with these VIEs: Maximum Exposure to Loss Total VIE On-Balance Off-Balance (in millions) Assets Sheet (b) Sheet Total September 30, 2019 Real estate and investment entities (a) $ 278,064 $ 6,537 $ 3,553 $ 10,090 Affordable housing partnerships 3,358 462 - 462 Other 5,387 326 - (c) 326 Total $ 286,809 $ 7,325 $ 3,553 $ 10,878 December 31, 2018 Real estate and investment entities (a) $ 309,598 $ 6,820 $ 2,501 $ 9,321 Affordable housing partnerships 4,116 607 - 607 Other 2,813 284 1,222 (c) 1,506 Total $ 316,527 $ 7,711 $ 3,723 $ 11,434 (a) Comprised primarily of hedge funds and private equity funds. (b) At September 30, 2019 and December 31, 2018, $ 7.0 billion and $ 7.4 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 2018 Annual Report.

DERIVATIVES AND HEDGE ACCOUNTIN

DERIVATIVES AND HEDGE ACCOUNTING	9 Months Ended
	Sep. 30, 2019
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 2018 Annual Report . 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 swaps) 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 and economically hedge certain investments. 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 addition to hedging activities, we also enter into derivative instruments with respect to investment operations, which may include, among other things, credit default swaps (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, 2019 December 31, 2018 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 $ 624 $ 5 $ 410 $ 8 $ 10 $ - $ 866 $ 19 Foreign exchange contracts 6,614 558 2,212 78 6,357 363 2,536 147 Derivatives not designated as hedging instruments: (a) Interest rate contracts 60,452 4,377 32,595 2,848 42,821 2,890 27,329 2,004 Foreign exchange contracts 11,360 1,104 6,469 862 11,134 801 5,434 711 Equity contracts 20,218 797 8,073 88 17,807 398 2,399 15 Credit contracts (b) 44 1 943 121 8 1 1,406 236 Other contracts (c) 40,804 15 58 8 39,070 15 58 6 Total derivatives, gross $ 140,116 $ 6,857 $ 50,760 $ 4,013 $ 117,207 $ 4,468 $ 40,028 $ 3,138 Counterparty netting (d) ( 2,795) ( 2,795) ( 1,713) ( 1,713) Cash collateral (e) ( 2,937) ( 133) ( 1,840) ( 187) Total derivatives on condensed consolidated balance sheets (f) $ 1,125 $ 1,085 $ 915 $ 1,238 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b) As of September 30, 2019 and December 31, 2018, included CDSs on super senior multi-sector CDOs with a net notional amount of $ 160 million and $ 592 million (fair value liability of $ 91 million and $ 224 million), respectively. The net notional amount represents the maximum exposure to loss on the portfolio. (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 7.2 billion and $ 4.1 billion, respectively, at September 30, 2019 and December 31, 2018. A bifurcated embedded derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets. Embedded derivatives are primarily related to guarantee features in variable annuity products, which include equity and interest rate components. Collateral We engage in derivative transactions that are not subject to a clearing requirement directly with unaffiliated third parties, in most cases, under International Swaps and Derivatives Association, Inc. (ISDA) Master Agreements. Many of the ISDA Master Agreements also include Credit Support Annex provisions, which provide for collateral postings that may vary at various ratings and threshold levels. We attempt to reduce our risk with certain counterparties by entering into agreements that enable collateral to be obtained from a counterparty 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 generally 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 give 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 transaction to an obligor with higher debt ratings or arrange for a substitute guarantee of our obligations by an obligor with higher debt ratings or take other similar action. The actual amount of collateral required to be posted to counterparties in the event of such downgrades, or the aggregate amount of 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 $ 1.9 billion at September 30, 2019 and $ 1.7 billion at December 31, 2018. In the case of collateral posted 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 $ 3.3 billion and $ 2.1 billion at September 30, 2019 and December 31, 2018, respectively. In the case of collateral provided to us under derivative transactions that are not subject to clearing, we generally can repledge or resell collateral. Offsetting We have elected to present all derivative receivables and derivative payables, and the related cash collateral received and paid, on a net basis on our Condensed Consolidated Balance Sheets when a legally enforceable ISDA Master Agreement exists between us and our derivative counterparty. An ISDA Master Agreement is an agreement governing multiple derivative transactions between two counterparties. The ISDA Master Agreement generally provides for the net settlement of all, or a specified group, of these derivative transactions, as well as transferred collateral, through a single payment, and in a single currency, as applicable. The net settlement provisions apply in the event of a default on, or affecting any, one derivative transaction or a termination event affecting all, or a specified group of, derivative transactions governed by the ISDA Master Agreement. Hedge Accounting We designated certain derivatives entered 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 foreign subsidiaries. For net investment hedge relationships where issued debt is used as a hedging instrument, we assess the hedge effectiveness and measure the amount of ineffectiveness based on changes in spot rates. For net investment hedge relationships that use derivatives as hedging instruments, we assess hedge effectiveness and measure hedge ineffectiveness using changes in forward rates. For the three- and nine-month periods ended September 30, 2019, we recognized gains of $ 89 million and $ 146 million, respectively, and for the three- and nine-month periods ended September 30, 2018, we recognized gains of $ 28 million and $ 27 million, respectively, included in Change in foreign currency translation adjustment in Other comprehensive income related to the net investment hedge relationships. A qualitative methodology is utilized to assess hedge effectiveness for net investment hedges, while regression analysis is employed for all other hedges. The following table presents the gain (loss) recognized in earnings on our derivative instruments in fair value hedging relationships in the Condensed Consolidated Statements of Income: Gains/(Losses) Recognized in Earnings for: Hedging Excluded Hedged (in millions) Derivatives (a) Components (b) Items Net Impact Three Months Ended September 30, 2019 Interest rate contracts : Realized capital gains/(losses) $ - $ - $ - $ - Interest credited to policyholder account balances 4 - ( 4) - Net investment income - - - - Foreign exchange contracts : Realized capital gains/(losses) 228 41 ( 228) 41 Three Months Ended September 30, 2018 Interest rate contracts : Realized capital gains/(losses) $ ( 1) $ - $ 1 $ - Interest credited to policyholder account balances - - - - Net investment income - - - - Foreign exchange contracts : Realized capital gains/(losses) ( 16) 5 16 5 Nine Months Ended September 30, 2019 Interest rate contracts : Realized capital gains/(losses) $ - $ - $ - $ - Interest credited to policyholder account balances 18 - ( 18) - Net investment income ( 1) - 1 - Foreign exchange contracts : Realized capital gains/(losses) 278 84 ( 278) 84 Nine Months Ended September 30, 2018 Interest rate contracts : Realized capital gains/(losses) $ ( 9) $ - $ 10 $ 1 Interest credited to policyholder account balances - - - - Net investment income - - - - Foreign exchange contracts : Realized capital gains/(losses) 175 9 ( 175) 9 (a) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are included in the assessment of hedge effectiveness. (b) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are excluded from the assessment of hedge effectiveness and recognized in earnings on a mark-to-market basis. Derivatives Not Designated as Hedging Instruments The following table presents the effect of derivative instruments not designated as hedging instruments in the Condensed Consolidated Statements of Income: Gains (Losses) Recognized in Earnings Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2019 2018 2019 2018 By Derivative Type: Interest rate contracts $ 1,078 $ ( 270) $ 2,052 $ ( 892) Foreign exchange contracts 342 43 545 295 Equity contracts 96 ( 199) ( 23) ( 386) Credit contracts 26 6 35 18 Other contracts 14 18 48 52 Embedded derivatives ( 756) 229 ( 2,037) 1,164 Total $ 800 $ ( 173) $ 620 $ 251 By Classification: Policy fees $ 16 $ 17 $ 51 $ 51 Net investment income ( 3) - ( 58) ( 3) Net realized capital gains (losses) 780 ( 223) 611 133 Other income - 35 - 76 Policyholder benefits and claims incurred 7 ( 2) 16 ( 6) Total $ 800 $ ( 173) $ 620 $ 251 CREDIT RISK-RELATED CONTINGENT FEATURES We estimate that at September 30, 2019, based on our outstanding financial derivative transactions, a downgrade of our long-term senior 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 $ 65 million. The aggregate 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 $ 391 million and $ 423 million at September 30, 2019 and December 31, 2018, respectively. The aggregate fair value of assets posted as collateral under these contracts at September 30, 2019 and December 31, 2018, was approximately $ 408 million and $ 453 million, 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 recognized in Net investment income and Other income. Our investments in these hybrid securities are reported as Other bond securities in the Condensed Consolidated Balance Sheets. The fair values of these hybrid securities were $ 3.7 billion and $ 3.9 billion at September 30, 2019 and December 31, 2018, respectively. These securities have par amounts of $ 8.1 billion and $ 8.5 billion at September 30, 2019 and December 31, 2018, respectively, and have remaining stated maturity dates that extend to 2052.

INSURANCE LIABILITIES

INSURANCE LIABILITIES	9 Months Ended
	Sep. 30, 2019
Insurance Liabilites
INSURANCE LIABILITIES	10. Insurance Liabilities Liability for Unpaid Losses and Loss Adjustment Expenses (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 such adjustment impacts 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 common given that loss trends vary and time is often required for changes in trends to be recognized and confirmed. Reserve changes that increase previous estimates of ultimate cost are 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 approximately $ 12.4 billion and $ 12.3 billion at September 30, 2019 and December 31, 2018, respectively. These recoverable amounts are related to certain policies with high deductibles (in excess of high dollar amounts retained by the insured through self-insured retentions, deductibles, retrospective programs, or captive arrangements, each referred to generically as “deductibles”), primarily for U.S. commercial casualty business. With respect to the deductible portion of the claim, we manage and pay the entire claim on behalf of the insured and are reimbursed by the insured for the deductible portion of the claim. Thus, these recoverable amounts represent a credit exposure to us. At September 30, 2019 and December 31, 2018, we held collateral of approximately $ 9.0 billion and $ 9.2 billion, respectively, for these deductible recoverable amounts, consisting primarily of letters of credit and funded trust agreements. The following table presents the roll-forward of activity in Loss Reserves: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2019 2018 2019 2018 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 81,057 $ 76,713 $ 83,639 $ 78,393 Reinsurance recoverable ( 31,333) ( 27,406) ( 31,690) ( 26,708) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 49,724 49,307 51,949 51,685 Losses and loss adjustment expenses incurred: Current year 5,150 6,670 14,750 15,800 Prior years, excluding discount and amortization of deferred gain ( 74) 949 ( 221) 884 Prior years, discount charge (benefit) 276 3 1,017 ( 174) Prior years, amortization of deferred gain on retroactive reinsurance (a) 13 ( 175) ( 129) ( 283) Total losses and loss adjustment expenses incurred 5,365 7,447 15,417 16,227 Losses and loss adjustment expenses paid: Current year ( 1,702) ( 1,791) ( 3,194) ( 3,289) Prior years ( 4,652) ( 4,526) ( 15,334) ( 14,312) Total losses and loss adjustment expenses paid ( 6,354) ( 6,317) ( 18,528) ( 17,601) Other changes: Foreign exchange effect ( 172) ( 236) ( 165) ( 393) Acquisitions (b) - 3,020 - 3,020 Retroactive reinsurance adjustment (net of discount) (c) 96 ( 464) ( 14) ( 181) Total other changes ( 76) 2,320 ( 179) 2,446 Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 48,659 52,757 48,659 52,757 Reinsurance recoverable 31,224 29,202 31,224 29,202 Total $ 79,883 $ 81,959 $ 79,883 $ 81,959 (a) Includes $ 6 million and $ 9 million for the retroactive reinsurance agreement with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway Inc. (Berkshire), covering U.S. asbestos exposures for the three-month periods ended September 30, 2019 and 2018, respectively, and $ 21 million and $ 22 million for the nine-month periods ended September 30, 2019 and 2018, respectively. (b) Amounts relate to the acquisition of Validus in July 2018. (c) Includes change in discount on retroactive reinsurance of $( 43) million and $ 46 million for the three-month periods ended September 30, 2019 and 2018, respectively, and $( 475) million and $ 154 million for the nine-month periods ended September 30, 2019 and 2018, respectively. On January 20, 2017, we entered into an adverse development reinsurance agreement with NICO, under which we transferred to NICO 80 percent of the reserve risk on substantially all of our U.S. Commercial long-tail exposures for accident years 2015 and prior. Under this agreement, we ceded to NICO 80 percent of the paid losses on subject business paid on or after January 1, 2016 in excess of $ 25 billion of net paid losses, up to an aggregate limit of $ 25 billion. At NICO’s 80 percent share, NICO’s limit of liability under the contract is $ 20 billion. We account for this transaction as retroactive reinsurance. We paid total consideration, including interest, of $ 10.2 billion. The consideration was placed into a collateral trust account as security for NICO’s claim payment obligations, and Berkshire has provided a parental guarantee to secure the obligations of NICO under the agreement. The total paid claims subject to the agreement as of September 30, 2019 were below the attachment point. Discounting of Loss Reserves At September 30, 2019 and December 31, 2018, the loss reserves reflect a net loss reserve discount of $ 1.6 billion and $ 2.0 billion, respectively, including tabular and non-tabular calculations based upon the following assumptions: The discount for asbestos reserves has been 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 domiciled in New York and Pennsylvania, and follows the statutory regulations (prescribed or permitted) for each state. For New York companies, the discount is based on a 5 percent interest rate and the 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 investment yields of the companies. In 2013, our Pennsylvania regulator approved use of a consistent discount rate (U.S. Treasury rate plus a liquidity premium) to all of our workers’ compensation reserves in our Pennsylvania-domiciled companies, as well as our use of updated payout patterns specific to our primary and excess workers compensation portfolios. At September 30, 2019 and December 31, 2018, the discount consists of $ 505 million and $ 603 million of tabular discount, respectively, and $ 1.1 billion and $ 1.4 billion of non-tabular discount for workers’ compensation, respectively. During the nine-month periods ended September 30, 2019 and 2018, the benefit (charge) from changes in discount of $( 920) million and $ 305 million, respectively, were recorded as part of the policyholder benefits and losses incurred in the Condensed Consolidated Statement of Income. The following table presents the components of the loss reserve discount discussed above: September 30, 2019 December 31, 2018 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total U.S. workers' compensation $ 2,138 $ 698 $ 2,836 $ 2,782 $ 973 $ 3,755 Retroactive reinsurance ( 1,246) - ( 1,246) ( 1,720) - ( 1,720) Total reserve discount * $ 892 $ 698 $ 1,590 $ 1,062 $ 973 $ 2,035 * Excludes $ 161 million and $ 163 million of discount related to certain long tail liabilities in the United Kingdom at September 30, 2019 and December 31, 2018, respectively. The following tables present the net loss reserve discount benefit (charge): Three Months Ended September 30, 2019 2018 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total Current accident year $ 41 $ - $ 41 $ 89 $ - $ 89 Accretion and other adjustments to prior year discount ( 26) ( 56) ( 82) ( 7) ( 12) ( 19) Effect of interest rate changes ( 136) ( 58) ( 194) 13 3 16 Net reserve discount benefit (charge) ( 121) ( 114) ( 235) 95 ( 9) 86 Change in discount on loss reserves ceded under retroactive reinsurance 43 - 43 ( 46) - ( 46) Net change in total reserve discount (a) $ ( 78) $ ( 114) $ ( 192) $ 49 $ ( 9) $ 40 Nine Months Ended September 30, 2019 2018 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total Current accident year $ 97 $ - $ 97 $ 131 $ - $ 131 Accretion and other adjustments to prior year discount ( 269) ( 80) ( 349) ( 95) ( 42) ( 137) Effect of interest rate changes ( 473) ( 195) ( 668) 232 79 311 Net reserve discount benefit (charge) ( 645) ( 275) ( 920) 268 37 305 Change in discount on loss reserves ceded under retroactive reinsurance 475 - 475 ( 154) - ( 154) Net change in total reserve discount (b) $ ( 170) $ ( 275) $ ( 445) $ 114 $ 37 $ 151 (a) Excludes $( 27) million and $ 12 million discount related to certain long tail liabilities in the United Kingdom for the three-month periods ended September 30, 2019 and 2018, respectively. (b) Excludes $( 1) million and $ 10 million discount related to certain long tail liabilities in the United Kingdom for the nine-month periods ended September 30, 2019 and 2018, respectively. During the three- and nine- month period ended September 30, 2019, effective interest rates declined due to a decrease in the forward yield curve component of the discount rates. This decrease reflects a decline in U.S. Treasury rates. The decrease together with certain changes in payout pattern assumptions resulted in a decrease in the loss reserve discount of $ 276 million and $ 1.0 billion in the three- and nine- month period ended September 30, 2019, respectively. During the three- and 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. This increase reflected an increase in U.S. Treasury rates. The increase together with changes in payout pattern assumptions resulted in a (decrease)/increase in the loss reserve discount of $( 3) million and $ 174 million in the three- and nine- month period ended September 30, 2018, respectively.

CONTINGENCIES, COMMITMENTS AND

CONTINGENCIES, COMMITMENTS AND GUARANTEES	9 Months Ended
	Sep. 30, 2019
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 consolidated 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 financial 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 similarly 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 coverage 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 from 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, employees 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 reasonably 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 future charges could be material, based on information currently known to management, management does not believe, other than as may be discussed below, that any such charges are likely to have a material adverse effect on our financial position or results of operation. 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. Such investigations, inquiries or examinations could develop into administrative, civil or criminal proceedings or enforcement actions, in which remedies could include fines, penalties, restitution or alterations in our business practices, and could result in additional expenses, limitations on certain business activities and reputational damage. For example, among other matters, we are currently responding to governmental investigations and examinations pertaining to certain sales and compensation practices and payments and related disclosures in connection with financial planning services and the sale and distribution of related products, including 403(b) and similar retirement plans, by the Individual and Group Retirement business segments. We have cooperated, and will continue to cooperate, in producing documents and other information with respect to these matters. Tax Litigation We are party to pending tax litigation before the Southern District of New York. For additional information see Note 15 to the Condensed Consolidated Financial Statements. Other Commitments In the normal course of business, we enter into commitments to invest in limited partnerships, private equity funds and hedge funds and to purchase and develop real estate in the U.S. and abroad. These commitments totaled $ 7.8 billion at September 30, 2019. Guarantees Subsidiaries We have issued unconditional guarantees with respect to the prompt payment, when due, of all present and future payment obligations and liabilities of AIG Financial Products Corp. and related subsidiaries (collectively AIGFP) and of AIG Markets, Inc. (AIG Markets) arising from transactions entered into by AIG Markets. In connection with AIGFP’s business activities, AIGFP has issued, in a limited number of transactions, standby letters of credit or similar facilities to equity investors of 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 outstanding at September 30, 2019 was $ 81 million. In those transactions, AIGFP has agreed to pay such amount if the lessee fails to pay. The amount payable by AIGFP is, in certain cases, partially offset by amounts payable under other instruments typically equal to the present value of scheduled payments to be made by AIGFP. In the event that AIGFP is required to make a payment to the equity investor, the lessee is unconditionally obligated to reimburse AIGFP. To the extent that the equity investor is paid the equity termination value 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 the 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 tax 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 consolidated federal income taxes. Under an Amended and Restated Tax Payment Allocation Agreement dated June 6, 2011 between AIG Parent and one of its Bermuda-domiciled insurance subsidiaries, AIG Life of Bermuda, Ltd. (AIGB), AIG Parent has agreed to indemnify AIGB for any tax liability (including interest and penalties) 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 entities. 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, declines 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 to 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 are 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 disclosures about derivatives see Note 9.  For additional disclosures about guarantees of outstanding debt of AIG Life Holdings, Inc. (AIGLH), see Note 16.

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2019
EQUITY
EQUITY	12. Equity Shares Outstanding Preferred Stock On March 14, 2019, we issued 20,000 shares of 5.85% Series A Non-Cumulative Preferred Stock (Series A Preferred Stock) (equivalent to 20,000,000 Depositary Shares, each representing a 1/1,000th interest in a share of Series A Preferred Stock), $ 5.00 par value and $ 25,000 liquidation preference per share (equivalent to $ 25 per Depositary Share). After underwriting discounts and expenses, we received net proceeds of approximately $ 485 million. We may redeem the Series A Preferred Stock at our option, (a) in whole, but not in part, at any time prior to March 15, 2024, within 90 days after the occurrence of a “Rating Agency Event,” at a redemption price equal to $ 25,500 per share of the Series A Preferred Stock (equivalent to $ 25.50 per Depositary Share), plus an amount equal to any dividends per share that have been declared but not paid prior to the redemption date (but no amount due in respect of any dividends that have not been declared prior to such date), or (b) (i) in whole, but not in part, at any time prior to March 15, 2024, within 90 days after the occurrence of a “Regulatory Capital Event,” or (ii) in whole or in part, from time to time, on or after March 15, 2024, in each case, at a redemption price equal to $ 25,000 per share of the Series A Preferred Stock (equivalent to $ 25.00 per Depositary Share), plus an amount equal to any dividends per share that have been declared but not paid prior to the redemption date (but no amount due in respect of any dividends that have not been declared prior to such date). A “Rating Agency Event” is generally defined to mean that any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the Exchange Act that then publishes a rating for us amends, clarifies or changes the criteria it uses to assign equity credit to securities such as the Series A Preferred Stock, which amendment, clarification or change results in the shortening of the length of time the Series A Preferred Stock is assigned a particular level of equity credit by that rating agency as compared to the length of time it would have been assigned that level of equity credit by that rating agency or its predecessor on the initial issuance of the Series A Preferred Stock, or the lowering of the equity credit (including up to a lesser amount) assigned to the Series A Preferred Stock by that rating agency as compared to the equity credit assigned by that rating agency or its predecessor on the initial issuance of the Series A Preferred Stock. A “Regulatory Capital Event” is generally defined to mean our good faith determination that as a result of a change in law, rule or regulation, or a proposed change or an official judicial or administrative pronouncement, there is more than an insubstantial risk that the full liquidation preference of the Series A Preferred Stock would not qualify as capital (or a substantially similar concept) for purposes of any group capital standard to which we are or will be subject. Holders of the Series A Preferred Stock will be entitled to receive dividend payments only when, as and if declared by our board of directors (or a duly authorized committee of the board). Dividends will be payable from the original date of issue at a rate of 5.85% per annum, payable quarterly, in arrears, on the fifteenth day of March, June, September and December of each year, beginning on June 15, 2019. Dividends on the Series A Preferred Stock will be non-cumulative. On May 21, 2019, our Board of Directors declared a cash dividend of $ 369.6875 per share on AIG’s Series A Preferred Stock. Holders of depositary shares each representing a 1/1,000th interest in a share of Series A Preferred Stock received $ 0.3696875 per depositary share. The dividend was paid on June 17, 2019 to holders of record at the close of business on May 31, 2019. On August 7, 2019, our Board of Directors declared a cash dividend of $ 365.625 per share on AIG’s Series A Preferred Stock. Holders of depositary shares each representing a 1/1,000th interest in a share of Series A Preferred Stock received $ 0.365625 per depositary share. The dividend was paid on September 16, 2019 to holders of record at the close of business on August 30, 2019. In the event of any liquidation, dissolution or winding-up of the affairs of AIG, whether voluntary or involuntary, before any distribution or payment out of our assets may be made to or set aside for the holders of any junior stock, holders of the Series A Preferred Stock will be entitled to receive out of our assets legally available for distribution to our stockholders, an amount equal to $ 25,000 per share of Series A Preferred Stock (equivalent to $ 25.00 per Depositary Share), together with an amount equal to all declared and unpaid dividends (if any), but no amount in respect of any undeclared dividends prior to such payment date. Distributions will be made only to the extent of our assets that are available for distribution to stockholders (i.e., after satisfaction of all our liabilities to creditors, if any). The Series A Preferred Stock does not have voting rights, except in limited circumstances, including in the case of certain dividend non-payments. Common Stock The following table presents a rollforward of outstanding shares: Nine Months Ended September 30, 2019 Common Treasury Common Stock Stock Issued Stock Outstanding Shares, beginning of year 1,906,671,492 ( 1,040,062,063) 866,609,429 Shares issued - 3,339,817 3,339,817 Shares repurchased - - - Shares, end of period 1,906,671,492 ( 1,036,722,246) 869,949,246 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 payment of dividends is also subject to the terms of AIG’s outstanding Series A Preferred Stock, pursuant to which no dividends may be declared or paid on any AIG Common Stock unless the full dividends for the latest completed dividend period on all outstanding shares of Series A Preferred Stock have been declared and paid or provided for. The following table presents declaration date, record date, payment date and dividends paid per share on AIG Common Stock: Dividends Paid Declaration Date Record Date Payment Date Per Common Share August 7, 2019 September 17, 2019 September 30, 2019 $ 0.32 May 6, 2019 June 14, 2019 June 28, 2019 0.32 February 13, 2019 March 15, 2019 March 29, 2019 0.32 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 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 2018 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) 2019 2018 Aggregate repurchases of common stock $ - $ 994 Total number of common shares repurchased - 18 Aggregate repurchases of warrants $ - $ 6 Total number of warrants repurchased * - - * For the nine-month period ended September 30, 2019, we did not repurchase any warrants to purchase shares of AIG Common Stock. For the nine-month period ended September 30, 2018, we repurchased 366,253 warrants to purchase shares of AIG Common Stock. Our Board of Directors has authorized the repurchase of shares of AIG Common Stock and warrants to purchase shares of AIG Common Stock through a series of actions. On February 13, 2019, our Board of Directors authorized an additional increase of approximately $ 1.5 billion to its previous share repurchase authorization. As of September 30, 2019, $ 2.0 billion remained under our share repurchase authorization. Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise (including through the purchase of warrants). Certain of our share repurchases have been and may from time to time be effected through Exchange Act Rule 10b5-1 repurchase plans. We did not repurchase any shares of AIG Common Stock during the nine-month period ended September 30, 2019. 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. The repurchase of AIG Common Stock is also subject to the terms of AIG’s outstanding Series A Preferred Stock, pursuant to which AIG may not (other than in limited circumstances) purchase, redeem or otherwise acquire AIG Common Stock unless the full dividends for the latest completed dividend period on all outstanding shares of Series A Preferred Stock have been declared and paid or provided for. Accumulated Other Comprehensive INCOME (LOSS) 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, 2019, net of tax $ 720 $ 8,034 $ ( 2,692) $ ( 1,079) $ 8 $ 4,991 Change in unrealized appreciation (depreciation) of investments ( 9) 4,386 - - - 4,377 Change in deferred policy acquisition costs adjustment and other 11 ( 522) - - - ( 511) Change in future policy benefits - ( 3,042) - - - ( 3,042) Change in foreign currency translation adjustments - - ( 24) - - ( 24) Change in net actuarial loss - - - 13 - 13 Change in prior service credit - - - ( 1) - ( 1) Change in deferred tax liability ( 4) ( 166) ( 10) ( 5) - ( 185) Change in fair value of liabilities under fair value option attributable to changes in own credit risk - - - - 1 1 Total other comprehensive income (loss) ( 2) 656 ( 34) 7 1 628 Noncontrolling interests - 5 ( 1) - - 4 Balance, September 30, 2019, net of tax $ 718 $ 8,685 $ ( 2,725) $ ( 1,072) $ 9 $ 5,615 Balance, December 31, 2018, net of tax $ ( 38) $ 2,426 $ ( 2,725) $ ( 1,086) $ 10 $ ( 1,413) Change in unrealized appreciation of investments 935 15,262 - - - 16,197 Change in deferred policy acquisition costs adjustment and other ( 3) ( 2,246) - - - ( 2,249) Change in future policy benefits - ( 5,291) - - - ( 5,291) Change in foreign currency translation adjustments - - 31 - - 31 Change in net actuarial loss - - - 29 - 29 Change in prior service credit - - - ( 2) - ( 2) Change in deferred tax liability ( 176) ( 1,447) ( 30) ( 13) - ( 1,666) Change in fair value of liabilities under fair value option attributable to changes in own credit risk - - - - ( 1) ( 1) Total other comprehensive income (loss) 756 6,278 1 14 ( 1) 7,048 Noncontrolling interests - 19 1 - - 20 Balance, September 30, 2019, net of tax $ 718 $ 8,685 $ ( 2,725) $ ( 1,072) $ 9 $ 5,615 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) The following table presents the other comprehensive income reclassification adjustments for the three- and nine-month periods ended September 30, 2019 and 2018, 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, 2019 Unrealized change arising during period $ 3 $ 949 $ ( 24) $ 3 $ 1 $ 932 Less: Reclassification adjustments included in net income 1 127 - ( 9) - 119 Total other comprehensive income (loss), before income tax expense 2 822 ( 24) 12 1 813 Less: Income tax expense 4 166 10 5 - 185 Total other comprehensive income (loss), net of income tax expense $ ( 2) $ 656 $ ( 34) $ 7 $ 1 $ 628 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) Nine Months Ended September 30, 2019 Unrealized change arising during period $ 929 $ 7,912 $ 31 $ 3 $ ( 1) $ 8,874 Less: Reclassification adjustments included in net income ( 3) 187 - ( 24) - 160 Total other comprehensive income (loss), before income tax expense 932 7,725 31 27 ( 1) 8,714 Less: Income tax expense 176 1,447 30 13 - 1,666 Total other comprehensive income (loss), net of income tax expense $ 756 $ 6,278 $ 1 $ 14 $ ( 1) $ 7,048 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) 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 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) 2019 2018 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 1 $ 1 Other realized capital gains Total 1 1 Unrealized appreciation (depreciation) of all other investments Investments 127 10 Other realized capital gains Deferred acquisition costs adjustment - 30 Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 127 40 Change in retirement plan liabilities adjustment Prior-service credit - - * Actuarial losses ( 9) ( 9) * Total ( 9) ( 9) Total reclassifications for the period $ 119 $ 32 Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income Nine Months Ended September 30, (in millions) 2019 2018 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ ( 3) $ 5 Other realized capital gains Total ( 3) 5 Unrealized appreciation (depreciation) of all other investments Investments 187 19 Other realized capital gains Deferred acquisition costs adjustment - - Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 187 19 Change in retirement plan liabilities adjustment Prior-service credit - 1 * Actuarial losses ( 24) ( 27) * Total ( 24) ( 26) Total reclassifications for the period $ 160 $ ( 2) * These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 14 .

EARNINGS PER COMMON SHARE (EPS)

EARNINGS PER COMMON SHARE (EPS)	9 Months Ended
	Sep. 30, 2019
EARNINGS PER SHARE (EPS)
EARNINGS PER SHARE (EPS)	13. Earnings Per Common Share (EPS) The basic EPS computation is based on the weighted average number of common shares outstanding, adjusted to reflect all stock dividends and stock splits. The diluted EPS computation is based on those shares used in the basic EPS computation plus common shares that would have been outstanding assuming issuance of common shares for all dilutive potential common shares outstanding and adjusted to reflect all stock dividends and stock splits. The following table presents the computation of basic and diluted EPS: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions, except per common share data) 2019 2018 2019 2018 Numerator for EPS: Income (loss) from continuing operations $ 973 $ ( 1,220) $ 3,301 $ 661 Less: Net income from continuing operations attributable to noncontrolling interests 317 - 881 5 Less: Preferred stock dividends 8 - 15 - Income (loss) attributable to AIG common shareholders from continuing operations 648 ( 1,220) 2,405 656 Loss from discontinued operations, net of income tax expense - ( 39) ( 1) ( 40) Net income (loss) attributable to AIG common shareholders $ 648 $ ( 1,259) $ 2,404 $ 616 Denominator for EPS: Weighted average common shares outstanding — basic 877,009,495 895,237,359 876,262,372 902,081,555 Dilutive common shares 18,804,915 - 10,958,744 14,736,714 Weighted average common shares outstanding — diluted (a)(b) 895,814,410 895,237,359 887,221,116 916,818,269 Income (loss) per common share attributable to AIG common shareholders: Basic: Income (loss) from continuing operations $ 0.74 $ ( 1.37) $ 2.74 $ 0.72 Income (loss) from discontinued operations $ - $ ( 0.04) $ - $ ( 0.04) Income (loss) attributable to AIG common shareholders $ 0.74 $ ( 1.41) $ 2.74 $ 0.68 Diluted: Income (loss) from continuing operations $ 0.72 $ ( 1.37) $ 2.71 $ 0.71 Income (loss) from discontinued operations $ - $ ( 0.04) $ - $ ( 0.04) Income (loss) attributable to AIG common shareholders $ 0.72 $ ( 1.41) $ 2.71 $ 0.67 (a) Shares in the diluted EPS calculation represent basic common shares for the three-month period ended September 30, 2018 due to the net loss in that period. The number of common shares excluded from the calculation was 13,538,168 shares. (b) Dilutive common shares include our share-based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011. The number of common shares excluded from diluted shares outstanding was 5.1 million and 24.9 million for the three- and nine-month periods ended September 30, 2019, respectively, and 5.8 million and 4.7 million for the three- and nine-month periods ended September 30, 2018, respectively, because the effect of including those common shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	9 Months Ended
	Sep. 30, 2019
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 (credit) 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, 2019 Components of net periodic benefit cost: Service cost $ 2 $ 6 $ 8 $ - $ - $ - Interest cost 44 3 47 2 - 2 Expected return on assets ( 58) ( 5) ( 63) - - - Amortization of prior service cost - - - - - - Amortization of net loss 9 1 10 - - - Net periodic benefit cost (credit) ( 3) 5 2 2 - 2 Settlement charges - - - - - - Net benefit cost (credit) $ ( 3) $ 5 $ 2 $ 2 $ - $ 2 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 Settlement charges - - - - - - Net benefit cost (credit) $ ( 24) $ 6 $ ( 18) $ 1 $ 1 $ 2 Nine Months Ended September 30, 2019 Components of net periodic benefit cost: Service cost $ 7 $ 16 $ 23 $ 1 $ - $ 1 Interest cost 131 11 142 5 1 6 Expected return on assets ( 172) ( 16) ( 188) - - - Amortization of prior service cost (credit) - 1 1 - ( 1) ( 1) Amortization of net (gain) loss 25 4 29 ( 1) - ( 1) Net periodic benefit cost (credit) ( 9) 16 7 5 - 5 Settlement credit - ( 3) ( 3) - - - Net benefit cost (credit) $ ( 9) $ 13 $ 4 $ 5 $ - $ 5 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 Settlement charges - - - - - - Net benefit cost (credit) $ ( 66) $ 17 $ ( 49) $ 4 $ 2 $ 6 For the nine-month period ended September 30, 2019, we contributed $ 160 million to the U.S. AIG Retirement Plan.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2019
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. 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, while certain formal guidance was issued by the U.S. tax authority, there are still aspects of the Tax Act that remain unclear and additional guidance is expected later in 2019. 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 materially. 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. Interim Tax Calculation Method We use the estimated annual effective tax rate method in computing our interim tax provision. Certain items, including those deemed to be unusual, infrequent or that cannot be reliably estimated, are excluded from the estimated annual effective tax rate. In these cases, the actual tax expense or benefit is reported in the same period as the related item. Certain tax effects are also not reflected in the estimated annual effective tax 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 certain impacts of the Tax Act are included in our annual effective tax rate, we continue to refine our calculations as additional information becomes available, which may result in changes to the estimated annual effective tax rate. Interim Tax Expense (Benefit) For the three-month period ended September 30, 2019, the effective tax rate on income from continuing operations was 22.8 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax charges associated with the effect of foreign operations, changes in reserves for uncertain tax positions, a net tax charge due to the accrual of interest associated with IRS and other tax authority matters, state and local income taxes, non-deductible transfer pricing charges, and U.S. tax imposed on GILTI earned by certain foreign subsidiaries, 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 valuation allowance activity related to certain foreign subsidiaries. The effect of foreign operations is primarily related to income in our foreign operations taxed at statutory tax rates higher than 21 percent, other foreign taxes, and foreign income subject to U.S. taxation. For the nine-month period ended September 30, 2019, the effective tax rate on income from continuing operations was 22.3 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax charges associated with the accrual of interest associated with IRS and other tax authority matters, the effect of foreign operations, changes in reserves for uncertain tax positions, state and local income taxes, excess tax charges related to share based compensation payments recorded through the income statement, non-deductible transfer pricing charges, and U.S. tax imposed on GILTI earned by certain foreign subsidiaries, 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 valuation allowance activity related to certain foreign subsidiaries. The effect of foreign operations is primarily related to income in our foreign operations taxed at statutory tax rates higher than 21 percent, other foreign taxes, and foreign income subject to U.S. taxation. For the three-month period ended September 30, 2018, the effective tax rate on income from continuing operations was 20.1 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax charges related to income in our foreign operations taxed at statutory tax rates higher than 21 percent, additional U.S. taxes imposed on income of our foreign subsidiaries under international provisions of the Tax Act, valuation allowance activity related to certain foreign subsidiaries and state jurisdictions 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. We also recorded a measurement period tax charge of $ 62 million related to the effects 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 rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax charges related to income in our foreign operations taxed at statutory tax rates higher than 21 percent, additional U.S. taxes imposed on income of our foreign subsidiaries under international provisions of the Tax Act, valuation allowance activity related to certain foreign subsidiaries and state jurisdictions and non-deductible transfer pricing charges, partially offset by tax benefits associated with tax exempt income, reclassifications from accumulated other comprehensive income to income from continuing operations related to the disposal of available for sale securities and excess tax deductions related to share based compensation payments recorded through the income statement. 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 foreign affiliates will be exempt from U.S. tax upon repatriation. Notwithstanding the changes, U.S. tax on foreign exchange gain or loss and certain non-U.S. withholding taxes will continue to be applicable upon future repatriations of foreign earnings. For the nine-month period ended September 30, 2019, 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 indefinitely reinvested. Assessment of Deferred Tax Asset Valuation Allowance The evaluation of the recoverability of our deferred tax asset and the need for a valuation allowance requires us to weigh all positive and negative evidence to reach a conclusion that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The weight given to the evidence is commensurate with the extent to which it can be objectively verified. The more negative evidence that exists, the more positive evidence is necessary and the more difficult it is to support a conclusion that a valuation allowance is not needed. Our framework for assessing the recoverability of the deferred tax asset requires us to consider all available evidence, including: • the nature, frequency, and amount of cumulative financial reporting income and losses in recent years; • the sustainability of recent operating profitability of our subsidiaries; • the predictability of future operating profitability of the character necessary to realize the net deferred tax asset; • the carryforward period for the net operating loss, capital loss and foreign tax credit carryforwards, including the effect of reversing 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 companies can be offset by our net operating loss carryforwards, only a portion (no more than 35 percent) of the U.S. taxable income of our life companies can be offset by those net operating loss carryforwards. The remaining tax liability of our life companies can be offset by 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, 2019, 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 and interpretations and assumptions related to the impact of the Tax Act 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 nine-month period ended September 30, 2019, recent changes in market conditions, including interest rate fluctuations, impacted the unrealized tax gains and losses in the U.S. Life Insurance Companies’ available for sale securities portfolio, resulting in an increase to the deferred tax liability related to net unrealized tax capital gains. As of September 30, 2019, based on all available evidence, we concluded that no valuation allowance is required. For the nine-month period ended September 30, 2019, we released $ 290 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. We released the full amount of valuation allowance previously recorded during the three-month period ended March 31, 2019 and no additional activity was recorded for the three-month periods ended June 30, 2019 and September 30, 2019. For the nine-month period ended September 30, 2019, recent changes in market conditions, including interest rate fluctuations, impacted the unrealized tax gains and losses in the U.S. Non-Life Companies’ available for sale securities portfolio, resulting in an increase to the deferred tax liability related to net unrealized tax capital gains. As of September 30, 2019, 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 periods ended September 30, 2019, we recognized net decreases of $ 9 million and $ 40 million, respectively, in our deferred tax asset valuation allowance associated with certain foreign subsidiaries, primarily attributable to changes in projections and current year activity. Tax Examinations and Litigation On August 1, 2012, we filed a motion for partial summary judgment related to the disallowance of foreign tax credits associated with cross border financing transactions in the Southern District of New York. The Southern District of New York denied our summary judgment motion and upon AIG’s appeal, the U.S. Court of Appeals for the Second Circuit (the Second Circuit) affirmed the denial. AIG’s petition for certiorari to the U.S. Supreme Court from the decision of the Second 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 outcome of any such litigation or whether binding compromised settlements with the parties will ultimately be reached. We currently believe that we have adequate reserves for the potential liabilities that may result from these matters. Accounting for Uncertainty in Income Taxes At both September 30, 2019 and December 31, 2018, our unrecognized tax benefits, excluding interest and penalties, were $ 4.8 billion and $ 4.7 billion, respectively. At September 30, 2019 and December 31, 2018, 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 $ 43 million and $ 38 million, respectively. Accordingly, at both September 30, 2019 and December 31, 2018, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $ 4.7 billion. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At September 30, 2019 and December 31, 2018, we had accrued liabilities of $ 2.4 billion and $ 2.2 billion, respectively, for the payment of interest (net of the federal benefit) and penalties. For the nine-month periods ended September 30, 2019 and 2018, we accrued expense (benefit) of $ 181 million and $ 148 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 expenses and matters related to cross border financing transactions.

INFORMATION PROVIDED IN CONNECT

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT	9 Months Ended
	Sep. 30, 2019
INFORMATION PROVIDED IN CONNECTION WITH OUTSTADING DEBT
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT	16. Information Provided in Connection with Outstanding Debt The following Condensed Consolidating Financial Statements reflect the results of Validus Holdings, Ltd. and AIG Life Holdings, Inc. (AIGLH), each a holding company and a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of the senior notes 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, 2019 Assets: Short-term investments (a) $ 3,229 $ 2 $ - $ 13,374 $ ( 2,492) $ 14,113 Other investments (b) 4,505 - - 322,375 - 326,880 Total investments 7,734 2 - 335,749 ( 2,492) 340,993 Cash 3 20 1 3,337 - 3,361 Loans to subsidiaries (c) 35,142 - - 752 ( 35,894) - Investment in consolidated subsidiaries (c) 40,115 3,814 33,315 - ( 77,244) - Other assets, including deferred income taxes (d) 15,583 1,792 18 165,222 ( 1,847) 180,768 Total assets $ 98,577 $ 5,628 $ 33,334 $ 505,060 $ ( 117,477) $ 525,122 Liabilities: Insurance liabilities $ - $ - $ - $ 305,993 $ - $ 305,993 Long-term debt 21,905 355 643 12,359 - 35,262 Other liabilities, including intercompany balances (b) 10,321 8 23 110,413 ( 4,343) 116,422 Loans from subsidiaries (c) 748 - - 35,142 ( 35,890) - Total liabilities 32,974 363 666 463,907 ( 40,233) 457,677 Total AIG shareholders’ equity 65,603 5,265 32,668 39,311 ( 77,244) 65,603 Non-redeemable noncontrolling interests - - - 1,842 - 1,842 Total equity 65,603 5,265 32,668 41,153 ( 77,244) 67,445 Total liabilities and equity $ 98,577 $ 5,628 $ 33,334 $ 505,060 $ ( 117,477) $ 525,122 December 31, 2018 Assets: Short-term investments (a) $ 1,141 $ 2 $ - $ 10,329 $ ( 1,798) $ 9,674 Other investments (b) 3,377 - - 301,158 - 304,535 Total investments 4,518 2 - 311,487 ( 1,798) 314,209 Cash 2 9 9 2,853 - 2,873 Loans to subsidiaries (c) 34,963 - - 615 ( 35,578) - Investment in consolidated subsidiaries (c) 33,300 4,029 26,321 - ( 63,650) - Other assets, including deferred income taxes (d) 15,389 1,798 124 159,430 ( 1,839) 174,902 Total assets $ 88,172 $ 5,838 $ 26,454 $ 474,385 $ ( 102,865) $ 491,984 Liabilities: Insurance liabilities $ - $ - $ - $ 293,652 $ - $ 293,652 Long-term debt 22,422 359 643 11,116 - 34,540 Other liabilities, including intercompany balances (b) 8,774 228 144 100,974 ( 3,637) 106,483 Loans from subsidiaries (c) 615 - - 34,963 ( 35,578) - Total liabilities 31,811 587 787 440,705 ( 39,215) 434,675 Total AIG shareholders’ equity 56,361 5,251 25,667 32,732 ( 63,650) 56,361 Non-redeemable noncontrolling interests - - - 948 - 948 Total equity 56,361 5,251 25,667 33,680 ( 63,650) 57,309 Total liabilities and equity $ 88,172 $ 5,838 $ 26,454 $ 474,385 $ ( 102,865) $ 491,984 (a) At September 30, 2019, includes restricted cash of $ 1 million and $ 63 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2018, includes restricted cash of $ 124 million and $ 18 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, 2019, includes restricted cash of $ 1 million and $ 344 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2018, includes restricted cash of $ 1 million and $ 342 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, 2019 Revenues: Equity in earnings of consolidated subsidiaries * $ 998 $ 28 $ 1,011 $ - $ ( 2,037) $ - Other income 279 4 - 12,710 ( 79) 12,914 Total revenues 1,277 32 1,011 12,710 ( 2,116) 12,914 Expenses: Interest expense 245 13 12 81 ( 3) 348 (Gain) loss on extinguishment of debt - ( 9) - 9 - - Other expenses 188 7 1 11,185 ( 75) 11,306 Total expenses 433 11 13 11,275 ( 78) 11,654 Income (loss) from continuing operations before income tax expense (benefit) 844 21 998 1,435 ( 2,038) 1,260 Income tax expense (benefit) 187 - ( 2) 102 - 287 Income (loss) from continuing operations 657 21 1,000 1,333 ( 2,038) 973 Income (loss) from discontinued operations, net of income taxes ( 1) - - 1 - - Net income (loss) 656 21 1,000 1,334 ( 2,038) 973 Less: Net income from continuing operations attributable to noncontrolling interests - - - 317 - 317 Net income (loss) attributable to AIG $ 656 $ 21 $ 1,000 $ 1,017 $ ( 2,038) $ 656 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) American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG Nine Months Ended September 30, 2019 Revenues: Equity in earnings of consolidated subsidiaries * $ 2,873 $ 344 $ 2,989 $ - $ ( 6,206) $ - Other income 843 9 - 37,234 ( 155) 37,931 Total revenues 3,716 353 2,989 37,234 ( 6,361) 37,931 Expenses: Interest expense 741 13 37 277 ( 11) 1,057 Loss on extinguishment of debt - - - 13 - 13 Other expenses 556 12 2 32,183 ( 143) 32,610 Total expenses 1,297 25 39 32,473 ( 154) 33,680 Income (loss) from continuing operations before income tax expense (benefit) 2,419 328 2,950 4,761 ( 6,207) 4,251 Income tax expense (benefit) ( 2) - ( 4) 956 - 950 Income (loss) from continuing operations 2,421 328 2,954 3,805 ( 6,207) 3,301 Income (loss) from discontinued operations, net of income taxes ( 2) - - 1 - ( 1) Net income (loss) 2,419 328 2,954 3,806 ( 6,207) 3,300 Less: Net income from continuing operations attributable to noncontrolling interests - - - 881 - 881 Net income (loss) attributable to AIG $ 2,419 $ 328 $ 2,954 $ 2,925 $ ( 6,207) $ 2,419 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 * 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, 2019 Net income (loss) $ 656 $ 21 $ 1,000 $ 1,334 $ ( 2,038) $ 973 Other comprehensive income (loss) 624 - 303 ( 1,436) 1,137 628 Comprehensive income (loss) 1,280 21 1,303 ( 102) ( 901) 1,601 Total comprehensive income attributable to noncontrolling interests - - - 321 - 321 Comprehensive income (loss) attributable to AIG $ 1,280 $ 21 $ 1,303 $ ( 423) $ ( 901) $ 1,280 Three Months Ended September 30, 2018 Net income (loss) $ ( 1,259) $ ( 82) $ 1,306 $ ( 822) $ ( 402) $ ( 1,259) Other comprehensive income (loss) ( 766) - ( 301) ( 2,229) (a) 2,530 (a) ( 766) Comprehensive income (loss) ( 2,025) ( 82) 1,005 ( 3,051) 2,128 ( 2,025) Total comprehensive income attributable to noncontrolling interests - - - - - - Comprehensive income (loss) attributable to AIG $ ( 2,025) $ ( 82) $ 1,005 $ ( 3,051) $ 2,128 $ ( 2,025) Nine Months Ended September 30, 2019 Net income (loss) $ 2,419 $ 328 $ 2,954 $ 3,806 $ ( 6,207) $ 3,300 Other comprehensive income (loss) 7,028 1 5,521 3,593 ( 9,095) 7,048 Comprehensive income (loss) 9,447 329 8,475 7,399 ( 15,302) 10,348 Total comprehensive income attributable to noncontrolling interests - - - 901 - 901 Comprehensive income (loss) attributable to AIG $ 9,447 $ 329 $ 8,475 $ 6,498 $ ( 15,302) $ 9,447 Nine Months Ended September 30, 2018 Net income (loss) $ 616 $ ( 82) $ 2,459 $ 921 $ ( 3,293) $ 621 Other comprehensive income (loss) ( 5,425) - ( 3,766) (a) ( 6,650) (a) 10,416 (a) ( 5,425) Comprehensive income (loss) ( 4,809) ( 82) ( 1,307) ( 5,729) 7,123 ( 4,804) Total comprehensive income attributable to noncontrolling interests - - - 5 - 5 Comprehensive income (loss) attributable to AIG $ ( 4,809) $ ( 82) $ ( 1,307) $ ( 5,734) $ 7,123 $ ( 4,809) (a) The Other comprehensive income (loss) amounts for Other Subsidiaries and Reclassifications and Eliminations in the three months ended September 30, 2018, have been revised from $( 1.4) billion to $( 2.2) billion and from $ 1.7 billion to $ 2.5 billion, respectively, to correct Comprehensive income (loss) in the three months ended September 30, 2018. The Other comprehensive income (loss) amounts for AIGLH, Other Subsidiaries and Reclassifications and Eliminations in the nine months ended September 30, 2018, have been revised from $ 3.1 billion to $( 3.8) billion, from $ 12.6 billion to $( 6.7) billion and from $( 15.7) billion to $ 10.4 billion, respectively, to correct Comprehensive income (loss) in the nine months ended September 30, 2018. These corrections in the three-and nine-month periods ended September 30, 2018 have no impact on AIG’s consolidated financial statements and is not considered material to previously issued financial statements. 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, 2019 Net cash (used in) provided by operating activities $ 2,755 $ 101 $ 1,462 $ ( 1,068) $ ( 4,039) $ ( 789) Cash flows from investing activities: Sales of investments 2,090 - - 46,921 ( 540) 48,471 Sales of divested businesses, net - - - 2 - 2 Purchase of investments ( 2,395) - - ( 49,654) 540 ( 51,509) Loans to subsidiaries - net 534 - - ( 127) ( 407) - Contributions from (to) subsidiaries - net ( 239) - - - 239 - Net change in short-term investments ( 2,242) - - ( 2,344) - ( 4,586) Other, net 87 - - 2,742 - 2,829 Net cash (used in) investing activities ( 2,165) - - ( 2,460) ( 168) ( 4,793) Cash flows from financing activities: Issuance of long-term debt 595 - - 1,969 - 2,564 Repayments of long-term debt ( 1,006) - - ( 1,415) - ( 2,421) Issuance of preferred stock 485 - - - - 485 Purchase of common stock - - - - - - Intercompany loans - net 127 - - ( 534) 407 - Cash dividends paid on preferred stock ( 15) - - - - ( 15) Cash dividends paid on common stock ( 835) ( 90) ( 1,470) ( 2,479) 4,039 ( 835) Other, net ( 63) - - 6,479 ( 239) 6,177 Net cash (used in) provided by financing activities ( 712) ( 90) ( 1,470) 4,020 4,207 5,955 Effect of exchange rate changes on cash and restricted cash - - - 39 - 39 Change in cash and restricted cash ( 122) 11 ( 8) 531 - 412 Cash and restricted cash at beginning of year 127 9 9 3,213 - 3,358 Cash and restricted cash at end of period $ 5 $ 20 $ 1 $ 3,744 $ - $ 3,770 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 on common stock ( 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 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, 2019 Cash $ 3 $ 20 $ 1 $ 3,337 $ - $ 3,361 Restricted cash included in Short-term investments 1 - - 63 - 64 Restricted cash included in Other assets 1 - - 344 - 345 Total cash and restricted cash shown in the Condensed Consolidating Statements of Cash Flows $ 5 $ 20 $ 1 $ 3,744 $ - $ 3,770 Cash (paid) received during the 2019 period for: Interest: Third party $ ( 735) $ ( 22) $ ( 48) $ ( 207) $ - $ ( 1,012) Intercompany ( 2) 31 - ( 29) - - Taxes: Income tax authorities $ ( 12) $ - $ - $ ( 181) $ - $ ( 193) Intercompany 1,035 2 - ( 1,037) - - 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) - - American International Group, Inc. (As Guarantor) Supplementary Disclosure of Non-Cash Activities: Nine Months Ended September 30, (in millions) 2019 2018 Intercompany non-cash financing and investing activities: Capital contributions $ 15 $ 2,339 Dividends received in the form of securities 659 745 Return of capital 15 2,706

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2019
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	17. Subsequent Events Dividends Declared On October 31, 2019, our Board of Directors declared a cash dividend on AIG Common Stock of $ 0.32 per share, payable on December 26, 2019 to shareholders of record on December 12, 2019. On October 31, 2019, our Board of Directors declared a cash dividend on AIG’s Series A Preferred Stock of $ 365.625 per share, payable on December 16, 2019 to holders of record on November 29, 2019.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2019
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; • valuation of embedded derivatives for fixed index annuity and life products; • estimated gross profits to value deferred policy acquisition costs for investment-oriented products; • impairment charges, including other-than-temporary impairments on available for sale securities, impairments on other invested assets, including investments in life settlements, and goodwill impairment; • allowances for loan losses; • liability for legal contingencies; • fair value measurements of certain financial assets and liabilities; and • income tax assets and liabilities, including recoverability of our net deferred tax asset and the predictability of future tax operating profitability of the character necessary to realize the net deferred tax asset and estimates associated with the Tax Act. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Goodwill	goodwill Effective July 1, 2019, we changed the date of our annual goodwill impairment testing from December 31 to July 1. This change does not represent a material change to our method of applying current accounting guidance and is preferable as it better aligns with our strategic planning and forecasting process. This change will not delay, accelerate or avoid any impairment charge and was applied prospectively. We performed our annual goodwill impairment tests of all reporting units using a combination of both qualitative and quantitative assessments and concluded that our goodwill was not impaired. Our goodwill balance was $ 4.1 billion at September 30, 2019. For further information on goodwill see Note 12 to the Consolidated Financial Statements in the 2018 Annual Report.
Accounting Standards Adopted	Accounting Standards Adopted During 2019 Leases In February 2016, the Financial Accounting Standards Board (FASB) issued an accounting standard that requires lessees with lease terms of more than 12 months to recognize a right of use asset and a corresponding lease liability on their balance sheets. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating leases or finance leases. Lessor accounting remained largely the same, with the exception of certain specified changes. We adopted the standard on its effective date of January 1, 2019, using a modified retrospective approach and did not adjust prior comparative periods in accordance with the standard’s transition guidance. The majority of the Company’s lease obligations pertain to real estate utilized in the operation of our businesses. Consequently, the primary impact of adoption resulted in the recognition of discounted lease liabilities of $ 823 million and corresponding right-of-use assets of $ 724 million for operating leases pertaining to our real estate portfolio, which are reflected in Other Liabilities and Other Assets, respectively. The standard did not have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Premium Amortization 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 call date. The standard does not require an accounting change for securities held at a discount, which continue to be amortized to maturity. We adopted the standard using a modified retrospective approach on its effective date of January 1, 2019. The standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Derivatives and Hedging In August 2017, the FASB issued an accounting standard that improves and expands hedge accounting for both financial and commodity risks. The provisions of the standard 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 statements and disclosures, and simplify the application of hedge accounting treatment. We adopted the standard on its effective date of January 1, 2019. The standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures.
Future Application of Accounting Standards	Future Application of Accounting Standards Financial Instruments - Credit Losses In June 2016, the FASB issued an accounting standard that will change how entities account for current expected credit losses (CECL) for most financial assets, trade receivables, off-balance sheet exposures and reinsurance receivables. The standard requires an allowance for credit losses based on the expectation of lifetime credit losses related to such financial assets subject to credit losses, including loans measured at amortized cost, reinsurance receivables and certain off-balance sheet credit exposures. Additionally, the impairment of available-for-sale debt securities, including purchased credit deteriorated securities, is 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 allow for reversals of credit impairments in the event that the credit of an issuer improves. The standard also requires additional disclosures. We plan to adopt the standard on its effective date of January 1, 2020 using a modified retrospective method, which requires a cumulative effect adjustment to retained earnings. We are finalizing the development of the credit loss models and related systems, processes and controls. As of September 30, 2019, we currently estimate the CECL allowance to be a reduction in opening retained earnings of approximately $ 625 million (pre-tax) primarily driven by commercial mortgage loans, and, to a lesser extent, reinsurance receivables and recoverables. This estimate will change, perhaps materially, as it is subject to further adjustments based upon ongoing reviews of models, methodologies and judgments. Moreover, the ultimate impact will be dependent on, among other things, our portfolios’ composition at the adoption date, as well as macroeconomic conditions and forecasts, and other management judgments 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 plan to adopt the standard on its effective date of January 1, 2020. Any impact of the standard will be dependent on the market conditions of the reporting units at the time of adoption. 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 standard prescribes significant and comprehensive changes to recognition, measurement, presentation and disclosure as 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, with the recognition and separate presentation of any resulting re-measurement gain or loss (except for discount rate changes as noted below) in the income statement.  Requires the discount rate assumption to be updated at the end of each reporting period using an 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 disclosures 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 impact of those changes. In October 2019, the FASB affirmed its decision to defer the effective date of the standard to January 1, 2022. We plan to adopt the standard on its updated effective date. We have started our implementation efforts and 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. The 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. RECLASSIFICATIONS In the first quarter of 2019, we began reporting investment income from our non-insurance subsidiaries in Net investment income instead of Other income on a prospective basis to be consistent with how we report investment income from our General Insurance and Life and Retirement reporting segments. This reclassification has no impact to our consolidated statements of operations.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2019
SEGMENT INFORMATION
Schedule of continuing operations by operating segment	Three Months Ended September 30, 2019 2018 Adjusted Adjusted Total Pre-tax Total Pre-tax (in millions) Revenues Income (Loss) Revenues Income (Loss) General Insurance North America $ 3,878 $ 435 $ 4,129 $ ( 160) International 3,537 72 3,853 ( 665) Total General Insurance 7,415 507 7,982 ( 825) Life and Retirement Individual Retirement 1,416 387 1,335 393 Group Retirement 726 203 718 242 Life Insurance 1,037 ( 7) 809 16 Institutional Markets 654 63 284 62 Total Life and Retirement 3,833 646 3,146 713 Other Operations 211 ( 454) 135 ( 417) Legacy Portfolio 751 93 814 84 AIG Consolidation and elimination ( 153) ( 46) ( 42) 29 Total AIG Consolidated adjusted revenues and adjusted pre-tax income (loss) 12,057 746 12,035 ( 416) Reconciling items from adjusted pre-tax income to pre-tax income (loss): Changes in fair value of securities used to hedge guaranteed living benefits 25 12 ( 5) ( 14) Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains (losses) - ( 65) - 76 Changes in the fair value of equity securities ( 51) ( 51) - - Professional fees related to regulatory or accounting changes - ( 3) - - Other income (expense) - net 16 - ( 4) - Gain (loss) on extinguishment of debt - - - ( 1) Net realized capital gains (losses) * 867 881 ( 540) ( 524) Income (loss) from divested businesses - ( 9) - 2 Non-operating litigation reserves and settlements - ( 5) - ( 5) (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - 59 - ( 605) Net loss reserve discount benefit (charge) - ( 235) - 86 Integration and transaction costs associated with acquired businesses - ( 3) - ( 91) Restructuring and other costs - ( 67) - ( 35) Revenues and Pre-tax income (loss) $ 12,914 $ 1,260 $ 11,486 $ ( 1,527) Nine Months Ended September 30, 2019 2018 Adjusted Adjusted Total Pre-Tax Total Pre-Tax (in millions) Revenues Income (Loss) Revenues Income (Loss) General Insurance North America $ 12,001 $ 2,087 $ 10,895 $ 567 International 10,743 668 11,758 ( 314) Total General Insurance 22,744 2,755 22,653 253 Life and Retirement Individual Retirement 4,233 1,483 4,062 1,354 Group Retirement 2,225 728 2,209 774 Life Insurance 3,264 195 2,962 243 Institutional Markets 2,143 213 838 196 Total Life and Retirement 11,865 2,619 10,071 2,567 Other Operations 625 ( 1,256) 454 ( 1,133) Legacy Portfolio 2,197 324 2,431 363 AIG Consolidation and elimination ( 460) ( 172) ( 214) 28 Total AIG Consolidated adjusted revenues and adjusted pre-tax income 36,971 4,270 35,395 2,078 Reconciling items from adjusted pre-tax income to pre-tax income: Changes in fair value of securities used to hedge guaranteed living benefits 214 183 ( 109) ( 127) Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains (losses) - ( 39) - 46 Changes in the fair value of equity securities 6 6 - - Professional fees related to regulatory or accounting changes - ( 5) - - Other income (expense) - net 27 - ( 29) - Loss on extinguishment of debt - ( 13) - ( 10) Net realized capital gains (losses) * 713 758 ( 430) ( 388) Income (loss) from divested businesses - ( 4) - 35 Non-operating litigation reserves and settlements - ( 6) 2 ( 30) (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements - 211 - ( 607) Net loss reserve discount benefit (charge) - ( 920) - 305 Integration and transaction costs associated with acquired businesses - ( 16) - ( 91) Restructuring and other costs - ( 174) - ( 259) Revenues and Pre-tax income $ 37,931 $ 4,251 $ 34,829 $ 952 * 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, 2019
BUSINESS COMBINATION
Pro Forma Income Statement Information	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2019 2018* 2019 2018* Total revenues $ 12,914 $ 11,486 $ 37,931 $ 36,028 Net income (loss) 973 ( 1,259) 3,300 576 Net income (loss) attributable to AIG common shareholders 648 ( 1,259) 2,404 571 Income (loss) per common share attributable to AIG common shareholders: Basic: Net income (loss) attributable to AIG common shareholders 0.74 ( 1.41) 2.74 0.63 Diluted: Net income (loss) attributable to AIG common shareholders 0.72 ( 1.41) 2.71 0.62 * 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.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2019
FAIR VALUE MEASUREMENTS
Assets and liabilities measured at fair value on a recurring basis	September 30, 2019 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 $ 684 $ 4,543 $ - $ - $ - $ 5,227 Obligations of states, municipalities and political subdivisions - 13,638 2,107 - - 15,745 Non-U.S. governments 94 15,269 13 - - 15,376 Corporate debt - 150,097 1,275 - - 151,372 RMBS - 19,235 13,560 - - 32,795 CMBS - 13,286 1,050 - - 14,336 CDO/ABS - 9,431 8,939 - - 18,370 Total bonds available for sale 778 225,499 26,944 - - 253,221 Other bond securities: U.S. government and government sponsored entities 10 2,286 - - - 2,296 Non-U.S. governments - - - - - - Corporate debt - 18 - - - 18 RMBS - 482 815 - - 1,297 CMBS - 335 68 - - 403 CDO/ABS - 382 3,931 - - 4,313 Total other bond securities 10 3,503 4,814 - - 8,327 Equity securities 751 12 8 - - 771 Other invested assets (b) - 73 589 - - 662 Derivative assets: Interest rate contracts 1 4,381 - - - 4,382 Foreign exchange contracts - 1,661 1 - - 1,662 Equity contracts 18 676 103 - - 797 Credit contracts - - 1 - - 1 Other contracts - - 15 - - 15 Counterparty netting and cash collateral - - - ( 2,795) ( 2,937) ( 5,732) Total derivative assets 19 6,718 120 ( 2,795) ( 2,937) 1,125 Short-term investments 2,988 2,589 - - - 5,577 Other assets - - 60 - - 60 Separate account assets 84,707 4,418 - - - 89,125 Total $ 89,253 $ 242,812 $ 32,535 $ ( 2,795) $ ( 2,937) $ 358,868 Liabilities: Policyholder contract deposits $ - $ - $ 7,166 $ - $ - $ 7,166 Derivative liabilities: Interest rate contracts 3 2,853 - - - 2,856 Foreign exchange contracts - 940 - - - 940 Equity contracts 12 74 2 - - 88 Credit contracts - 18 103 - - 121 Other contracts - - 8 - - 8 Counterparty netting and cash collateral - - - ( 2,795) ( 133) ( 2,928) Total derivative liabilities 15 3,885 113 ( 2,795) ( 133) 1,085 Other liabilities - 55 - - - 55 Long-term debt - 2,287 - - - 2,287 Total $ 15 $ 6,227 $ 7,279 $ ( 2,795) $ ( 133) $ 10,593 December 31, 2018 Counterparty Cash (in millions) Level 1 Level 2 Level 3 Netting (a) Collateral Total Assets: Bonds available for sale: U.S. government and government sponsored entities $ 53 $ 3,207 $ - $ - $ - $ 3,260 Obligations of states, municipalities and political subdivisions - 14,001 2,000 - - 16,001 Non-U.S. governments 69 14,445 11 - - 14,525 Corporate debt - 129,836 864 - - 130,700 RMBS - 20,178 14,199 - - 34,377 CMBS - 11,784 917 - - 12,701 CDO/ABS - 8,725 9,102 - - 17,827 Total bonds available for sale 122 202,176 27,093 - - 229,391 Other bond securities: U.S. government and government sponsored entities 11 2,654 - - - 2,665 Non-U.S. governments - 45 - - - 45 Corporate debt - 1,671 - - - 1,671 RMBS - 424 1,290 - - 1,714 CMBS - 311 77 - - 388 CDO/ABS - 454 4,478 - - 4,932 Total other bond securities 11 5,559 5,845 - - 11,415 Equity securities 1,213 13 27 - - 1,253 Other invested assets (b) - 341 587 - - 928 Derivative assets: Interest rate contracts 2 2,888 - - - 2,890 Foreign exchange contracts - 1,159 5 - - 1,164 Equity contracts 133 190 75 - - 398 Credit contracts - - 1 - - 1 Other contracts - - 15 - - 15 Counterparty netting and cash collateral - - - ( 1,713) ( 1,840) ( 3,553) Total derivative assets 135 4,237 96 ( 1,713) ( 1,840) 915 Short-term investments 2,416 599 - - - 3,015 Other assets - - 58 - - 58 Separate account assets 77,202 4,645 - - - 81,847 Total $ 81,099 $ 217,570 $ 33,706 $ ( 1,713) $ ( 1,840) $ 328,822 Liabilities: Policyholder contract deposits $ - $ - $ 4,116 $ - $ - $ 4,116 Derivative liabilities: Interest rate contracts 4 2,004 15 - - 2,023 Foreign exchange contracts - 858 - - - 858 Equity contracts 12 3 - - - 15 Credit contracts - 8 228 - - 236 Other contracts - - 6 - - 6 Counterparty netting and cash collateral - - - ( 1,713) ( 187) ( 1,900) Total derivative liabilities 16 2,873 249 ( 1,713) ( 187) 1,238 Other liabilities 16 11 - - - 27 Long-term debt - 2,213 - - - 2,213 Total $ 32 $ 5,097 $ 4,365 $ ( 1,713) $ ( 187) $ 7,594 (a) Represents netting of derivative exposures covered by qualifying master netting agreements. (b) Excludes investments that are measured at fair value using the net asset value (NAV) per share (or its equivalent), which totaled $ 5.4 billion and $ 5.0 billion as of September 30, 2019 and December 31, 2018, 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 of Period at End of Period Three Months Ended September 30, 2019 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,162 $ ( 1) $ 119 $ 92 $ - $ ( 265) $ 2,107 $ - Non-U.S. governments 2 6 - - 5 - 13 - Corporate debt 1,821 ( 36) ( 2) ( 535) 112 ( 85) 1,275 - RMBS 13,863 166 15 ( 418) 16 ( 82) 13,560 - CMBS 1,103 2 32 85 - ( 172) 1,050 - CDO/ABS 9,062 3 37 ( 170) 7 - 8,939 - Total bonds available for sale 28,013 140 201 ( 946) 140 ( 604) 26,944 - Other bond securities: Corporate debt - - - - - - - - RMBS 830 9 - ( 24) - - 815 1 CMBS 88 1 - ( 17) - ( 4) 68 ( 2) CDO/ABS 4,150 115 - ( 334) - - 3,931 28 Total other bond securities 5,068 125 - ( 375) - ( 4) 4,814 27 Equity securities 35 - - ( 29) 2 - 8 ( 2) Mortgage and other loans receivable - - - - - - - - Other invested assets 605 6 - ( 22) - - 589 7 Other assets 61 - - ( 1) - - 60 - Total $ 33,782 $ 271 $ 201 $ ( 1,373) $ 142 $ ( 608) $ 32,415 $ 32 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 $ 6,065 $ 861 $ - $ 240 $ - $ - $ 7,166 $ ( 691) Derivative liabilities, net: Interest rate contracts 16 ( 3) - ( 13) - - - - Foreign exchange contracts ( 4) 6 - ( 3) - - ( 1) - Equity contracts ( 113) 12 - - - - ( 101) ( 13) Credit contracts 173 ( 24) - ( 47) - - 102 14 Other contracts ( 7) ( 17) - 17 - - ( 7) 15 Total derivative liabilities, net (a) 65 ( 26) - ( 46) - - ( 7) 16 Total $ 6,130 $ 835 $ - $ 194 $ - $ - $ 7,159 $ ( 675) 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, 2019 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,000 $ ( 2) $ 321 $ 178 $ 35 $ ( 425) $ 2,107 $ - Non-U.S. governments 11 5 - ( 4) 5 ( 4) 13 - Corporate debt 864 ( 10) 79 ( 600) 1,155 ( 213) 1,275 - RMBS 14,199 575 176 ( 1,234) 83 ( 239) 13,560 - CMBS 917 8 62 381 58 ( 376) 1,050 - CDO/ABS 9,102 15 204 ( 111) 103 ( 374) 8,939 - Total bonds available for sale 27,093 591 842 ( 1,390) 1,439 ( 1,631) 26,944 - Other bond securities: Corporate debt - - - - - - - - RMBS 1,290 69 - ( 544) - - 815 ( 18) CMBS 77 5 - - - ( 14) 68 3 CDO/ABS 4,478 299 - ( 749) - ( 97) 3,931 128 Total other bond securities 5,845 373 - ( 1,293) - ( 111) 4,814 113 Equity securities 27 - - ( 20) 2 ( 1) 8 2 Mortgage and other loans receivable - - - - - - - - Other invested assets 587 24 1 ( 23) - - 589 27 Other assets 58 - - 2 - - 60 - Total $ 33,610 $ 988 $ 843 $ ( 2,724) $ 1,441 $ ( 1,743) $ 32,415 $ 142 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 $ 4,116 $ 2,400 $ - $ 650 $ - $ - $ 7,166 $ ( 2,044) Derivative liabilities, net: Interest rate contracts 15 - - ( 15) - - - 1 Foreign exchange contracts ( 5) ( 4) - 8 - - ( 1) - Equity contracts ( 75) ( 8) - ( 18) - - ( 101) 19 Credit contracts 227 ( 51) - ( 74) - - 102 13 Other contracts ( 9) ( 50) - 52 - - ( 7) 50 Total derivative liabilities, net (a) 153 ( 113) - ( 47) - - ( 7) 83 Total $ 4,269 $ 2,287 $ - $ 603 $ - $ - $ 7,159 $ ( 1,961) 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) Equity securities - 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 (a) 176 ( 39) - 1 - - - 138 30 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 Equity securities - ( 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 (a) 187 ( 84) - 33 - 2 - 138 67 Total $ 4,323 $ ( 1,070) $ - $ 259 $ - $ 2 $ - $ 3,514 $ 1,148 (a) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only.
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 of Period at End of Period Three Months Ended September 30, 2019 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,162 $ ( 1) $ 119 $ 92 $ - $ ( 265) $ 2,107 $ - Non-U.S. governments 2 6 - - 5 - 13 - Corporate debt 1,821 ( 36) ( 2) ( 535) 112 ( 85) 1,275 - RMBS 13,863 166 15 ( 418) 16 ( 82) 13,560 - CMBS 1,103 2 32 85 - ( 172) 1,050 - CDO/ABS 9,062 3 37 ( 170) 7 - 8,939 - Total bonds available for sale 28,013 140 201 ( 946) 140 ( 604) 26,944 - Other bond securities: Corporate debt - - - - - - - - RMBS 830 9 - ( 24) - - 815 1 CMBS 88 1 - ( 17) - ( 4) 68 ( 2) CDO/ABS 4,150 115 - ( 334) - - 3,931 28 Total other bond securities 5,068 125 - ( 375) - ( 4) 4,814 27 Equity securities 35 - - ( 29) 2 - 8 ( 2) Mortgage and other loans receivable - - - - - - - - Other invested assets 605 6 - ( 22) - - 589 7 Other assets 61 - - ( 1) - - 60 - Total $ 33,782 $ 271 $ 201 $ ( 1,373) $ 142 $ ( 608) $ 32,415 $ 32 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 $ 6,065 $ 861 $ - $ 240 $ - $ - $ 7,166 $ ( 691) Derivative liabilities, net: Interest rate contracts 16 ( 3) - ( 13) - - - - Foreign exchange contracts ( 4) 6 - ( 3) - - ( 1) - Equity contracts ( 113) 12 - - - - ( 101) ( 13) Credit contracts 173 ( 24) - ( 47) - - 102 14 Other contracts ( 7) ( 17) - 17 - - ( 7) 15 Total derivative liabilities, net (a) 65 ( 26) - ( 46) - - ( 7) 16 Total $ 6,130 $ 835 $ - $ 194 $ - $ - $ 7,159 $ ( 675) 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, 2019 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 2,000 $ ( 2) $ 321 $ 178 $ 35 $ ( 425) $ 2,107 $ - Non-U.S. governments 11 5 - ( 4) 5 ( 4) 13 - Corporate debt 864 ( 10) 79 ( 600) 1,155 ( 213) 1,275 - RMBS 14,199 575 176 ( 1,234) 83 ( 239) 13,560 - CMBS 917 8 62 381 58 ( 376) 1,050 - CDO/ABS 9,102 15 204 ( 111) 103 ( 374) 8,939 - Total bonds available for sale 27,093 591 842 ( 1,390) 1,439 ( 1,631) 26,944 - Other bond securities: Corporate debt - - - - - - - - RMBS 1,290 69 - ( 544) - - 815 ( 18) CMBS 77 5 - - - ( 14) 68 3 CDO/ABS 4,478 299 - ( 749) - ( 97) 3,931 128 Total other bond securities 5,845 373 - ( 1,293) - ( 111) 4,814 113 Equity securities 27 - - ( 20) 2 ( 1) 8 2 Mortgage and other loans receivable - - - - - - - - Other invested assets 587 24 1 ( 23) - - 589 27 Other assets 58 - - 2 - - 60 - Total $ 33,610 $ 988 $ 843 $ ( 2,724) $ 1,441 $ ( 1,743) $ 32,415 $ 142 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 $ 4,116 $ 2,400 $ - $ 650 $ - $ - $ 7,166 $ ( 2,044) Derivative liabilities, net: Interest rate contracts 15 - - ( 15) - - - 1 Foreign exchange contracts ( 5) ( 4) - 8 - - ( 1) - Equity contracts ( 75) ( 8) - ( 18) - - ( 101) 19 Credit contracts 227 ( 51) - ( 74) - - 102 13 Other contracts ( 9) ( 50) - 52 - - ( 7) 50 Total derivative liabilities, net (a) 153 ( 113) - ( 47) - - ( 7) 83 Total $ 4,269 $ 2,287 $ - $ 603 $ - $ - $ 7,159 $ ( 1,961) 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) Equity securities - 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 (a) 176 ( 39) - 1 - - - 138 30 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 Equity securities - ( 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 (a) 187 ( 84) - 33 - 2 - 138 67 Total $ 4,323 $ ( 1,070) $ - $ 259 $ - $ 2 $ - $ 3,514 $ 1,148 (a) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only.
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, 2019 Assets: Bonds available for sale $ 164 $ ( 24) $ - $ 140 Other bond securities 110 15 - 125 Equity securities - - - - Other invested assets 7 ( 1) - 6 Nine Months Ended September 30, 2019 Assets: Bonds available for sale $ 651 $ ( 60) $ - $ 591 Other bond securities 306 67 - 373 Equity securities - - - - Other invested assets 25 ( 1) - 24 Three Months Ended September 30, 2018 Assets: Bonds available for sale $ 249 $ - $ - $ 249 Other bond securities 35 1 56 92 Equity securities 1 - - 1 Other invested assets - - - - Nine Months Ended September 30, 2018 Assets: Bonds available for sale $ 731 $ ( 112) $ - $ 619 Other bond securities 92 ( 3) 262 351 Equity securities ( 2) - - ( 2) Other invested assets 57 - ( 5) 52 Net Net Realized Investment Capital Other (in millions) Income (Gains) Losses Income Total Three Months Ended September 30, 2019 Liabilities: Policyholder contract deposits $ - $ 861 $ - $ 861 Derivative liabilities, net - ( 11) ( 15) ( 26) Nine Months Ended September 30, 2019 Liabilities: Policyholder contract deposits $ - $ 2,400 $ - $ 2,400 Derivative liabilities, net - ( 64) ( 49) ( 113) Three Months Ended September 30, 2018 Liabilities: Policyholder contract deposits $ - $ ( 242) $ - $ ( 242) Derivative liabilities, net - ( 1) ( 38) ( 39) Nine Months Ended September 30, 2018 Liabilities: Policyholder contract deposits $ - $ ( 986) $ - $ ( 986) Derivative liabilities, net - ( 3) ( 81) ( 84)
Gross components of purchases, sales, issuances and settlements, net	Issuances Purchases, Sales, and Issuances and (in millions) Purchases Sales Settlements (a) Settlements, Net (a) Three Months Ended September 30, 2019 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 109 $ - $ ( 17) $ 92 Non-U.S. governments - - - - Corporate debt 1 ( 128) ( 408) ( 535) RMBS 253 - ( 671) ( 418) CMBS 92 - ( 7) 85 CDO/ABS 458 ( 198) ( 430) ( 170) Total bonds available for sale 913 ( 326) ( 1,533) ( 946) Other bond securities: RMBS - - ( 24) ( 24) CMBS - ( 16) ( 1) ( 17) CDO/ABS - ( 153) ( 181) ( 334) Total other bond securities - ( 169) ( 206) ( 375) Equity securities - - ( 29) ( 29) Mortgage and other loans receivable - - - - Other invested assets 21 - ( 43) ( 22) Other assets - - ( 1) ( 1) Total assets $ 934 $ ( 495) $ ( 1,812) $ ( 1,373) Liabilities: Policyholder contract deposits $ - $ 240 $ - $ 240 Derivative liabilities, net ( 7) - ( 39) ( 46) Total liabilities $ ( 7) $ 240 $ ( 39) $ 194 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) Equity securities 24 - - 24 Mortgage and other loans receivable - - - - Other invested assets - - ( 1) ( 1) Other assets - - - - Total assets $ 624 $ ( 61) $ ( 1,329) $ ( 766) Liabilities: Policyholder contract deposits $ - $ 148 $ ( 64) $ 84 Derivative liabilities, net ( 18) - 19 1 Total liabilities $ ( 18) $ 148 $ ( 45) $ 85 Issuances Purchases, Sales, and Issuances and (in millions) Purchases Sales Settlements (a) Settlements, Net (a) Nine Months Ended September 30, 2019 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 243 $ ( 16) $ ( 49) $ 178 Non-U.S. governments - - ( 4) ( 4) Corporate debt 58 ( 129) ( 529) ( 600) RMBS 860 ( 26) ( 2,068) ( 1,234) CMBS 455 - ( 74) 381 CDO/ABS 1,628 ( 508) ( 1,231) ( 111) Total bonds available for sale 3,244 ( 679) ( 3,955) ( 1,390) Other bond securities: RMBS - ( 437) ( 107) ( 544) CMBS 18 ( 16) ( 2) - CDO/ABS - ( 153) ( 596) ( 749) Total other bond securities 18 ( 606) ( 705) ( 1,293) Equity securities 9 - ( 29) ( 20) Mortgage and other loans receivable - - - - Other invested assets 64 - ( 87) ( 23) Other assets - - 2 2 Total assets $ 3,335 $ ( 1,285) $ ( 4,774) $ ( 2,724) Liabilities: Policyholder contract deposits $ - $ 616 $ 34 $ 650 Derivative liabilities, net ( 29) - ( 18) ( 47) Total liabilities $ ( 29) $ 616 $ 16 $ 603 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) Equity securities 27 - - 27 Mortgage and other loans receivable - ( 5) - ( 5) Other invested assets 153 ( 29) ( 29) 95 Other assets - - - - Total assets $ 2,551 $ ( 1,272) $ ( 4,730) $ ( 3,451) Liabilities: Policyholder contract deposits $ - $ 391 $ ( 165) $ 226 Derivative liabilities, net ( 37) - 70 33 Total liabilities $ ( 37) $ 391 $ ( 95) $ 259 (a) There were no issuances during the three- and nine-month periods ended September 30, 2019 and 2018.
Significant unobservable inputs used for recurring fair value measurements	Fair Value at September 30, Valuation Range (in millions) 2019 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,590 Discounted cash flow Yield 3.12% - 3.74% ( 3.43%) Corporate debt 781 Discounted cash flow Yield 2.95% - 7.03% ( 4.99%) RMBS (a) 12,350 Discounted cash flow Constant prepayment rate 3.87% - 12.23% ( 8.05%) Loss severity 36.65% - 78.25% ( 57.45%) Constant default rate 1.81% - 6.41% ( 4.11%) Yield 2.29% - 4.47% ( 3.38%) CDO/ABS (a) 5,903 Discounted cash flow Yield 2.73% - 4.75% ( 3.74%) CMBS 499 Discounted cash flow Yield 2.48% - 4.82% ( 3.65%) Liabilities: Embedded derivatives within Policyholder contract deposits: Guaranteed minimum withdrawal benefits (GMWB) 3,168 Discounted cash flow Equity volatility 6.15% - 48.65% Base lapse rate 0.16% - 12.60% Dynamic lapse multiplier 50.00% - 143.00% Mortality multiplier (c) 38.00% - 155.00% Utilization 90.00% - 100.00% Equity / interest-rate correlation 20.00% - 40.00% Index Annuities 3,470 Discounted cash flow Lapse rate 0.31% - 50.00% Mortality multiplier (c) 24.00% - 180.00% Option Budget 1.00% - 4.00% Indexed Life 502 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Fair Value at December 31, Valuation Range (in millions) 2018 Technique Unobservable Input (b) (Weighted Average) Assets: Obligations of states, municipalities and political subdivisions $ 1,473 Discounted cash flow Yield 3.91% - 5.00% ( 4.46%) Corporate debt 445 Discounted cash flow Yield 4.35% - 5.99% ( 5.17%) RMBS (a) 13,608 Discounted cash flow Constant prepayment rate 4.58% - 14.00% ( 9.29%) Loss severity 39.66% - 74.40% ( 57.03%) Constant default rate 2.46% - 7.39% ( 4.92%) Yield 3.31% - 5.50% ( 4.40%) CDO/ABS (a) 5,461 Discounted cash flow Yield 3.65% - 5.10% ( 4.37%) CMBS 447 Discounted cash flow Yield 3.29% - 6.07% ( 4.68%) Liabilities: Embedded derivatives within Policyholder contract deposits: GMWB 1,943 Discounted cash flow Equity volatility 6.05% - 47.65% 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 1,778 Discounted cash flow Lapse rate 0.50% - 40.00% Mortality multiplier (c) 42.00% - 162.00% Option Budget 1.00% - 3.00% Indexed Life 374 Discounted cash flow Base lapse rate 0.00% - 13.00% Mortality rate 0.00% - 100.00% (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 tranches purchased by us, because there are other factors relevant to the fair values of specific tranches owned by us including, but not limited to, purchase price, position in the waterfall, senior versus subordinated position and attachment points. (b) Represents discount rates, estimates and assumptions that we believe 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, 2019 December 31, 2018 Fair Value Fair Value Using NAV Using NAV Per Share (or Unfunded Per Share (or Unfunded (in millions) Investment Category Includes its equivalent) Commitments its equivalent) Commitments Investment Category Private equity funds: Leveraged buyout Debt and/or equity investments made as part of a transaction in which assets of mature companies are acquired from the current shareholders, typically with the use of financial leverage $ 1,152 $ 1,326 $ 847 $ 1,327 Real Estate / Infrastructure Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities 341 387 190 83 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 102 122 126 127 Growth Equity Funds that make investments in established companies for the purpose of growing their businesses 411 72 362 28 Mezzanine Funds that make investments in the junior debt and equity securities of leveraged companies 341 472 211 75 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 739 249 514 307 Total private equity funds 3,086 2,628 2,250 1,947 Hedge funds: Event-driven Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations 753 - 787 - Long-short Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk 548 - 863 - Macro Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions 848 - 887 - Distressed Securities of companies that are in default, under bankruptcy protection or troubled 1 - 21 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 162 1 158 1 Total hedge funds 2,312 1 2,716 9 Total $ 5,398 $ 2,629 $ 4,966 $ 1,956
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) 2019 2018 2019 2018 Assets: Bond and equity securities $ 333 $ 122 $ 971 $ 274 Alternative investments (a) 92 131 473 355 Liabilities: Long-term debt (b) ( 75) 6 ( 228) 74 Total gain $ 350 $ 259 $ 1,216 $ 703 (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, 2019 December 31, 2018 Outstanding Outstanding (in millions) Fair Value Principal Amount Difference Fair Value Principal Amount Difference Liabilities: Long-term debt * $ 2,287 $ 1,652 $ 635 $ 2,213 $ 1,653 $ 560 * Includes GIAs, notes, bonds, loans and mortgages payable.
Fair value assets measured on nonrecurring basis and impairment charges	Assets at Fair Value Impairment Charges Non-Recurring Basis Three Months Ended September 30, Nine Months Ended September 30, (in millions) Level 1 Level 2 Level 3 Total 2019 2018 2019 2018 September 30, 2019 Other investments $ - $ - $ 253 $ 253 $ 7 $ - $ 65 $ 89 Other assets - - 1 1 45 34 62 35 Total $ - $ - $ 254 $ 254 $ 52 $ 34 $ 127 $ 124 December 31, 2018 Other investments $ - $ - $ 315 $ 315 Other assets - - 11 11 Total $ - $ - $ 326 $ 326
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, 2019 Assets: Mortgage and other loans receivable $ - $ 104 $ 47,682 $ 47,786 $ 45,075 Other invested assets - 707 6 713 714 Short-term investments - 8,536 - 8,536 8,536 Cash 3,361 - - 3,361 3,361 Other assets 208 137 - 345 345 Liabilities: Policyholder contract deposits associated with investment-type contracts - 267 135,346 135,613 126,011 Other liabilities - 2,787 - 2,787 2,787 Long-term debt - 26,223 9,113 35,336 32,975 December 31, 2018 Assets: Mortgage and other loans receivable $ - $ 105 $ 43,522 $ 43,627 $ 43,135 Other invested assets - 731 6 737 737 Short-term investments - 6,659 - 6,659 6,659 Cash 2,873 - - 2,873 2,873 Other assets 308 35 - 343 343 Liabilities: Policyholder contract deposits associated with investment-type contracts - 339 121,035 121,374 120,602 Other liabilities - 1,154 - 1,154 1,154 Long-term debt - 22,822 8,775 31,597 32,327

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2019
Investments [Line Items]
The amortized cost or cost and fair value of AIG's available for sale securities and other invested assets carried at fair value	Other-Than- Amortized Gross Gross Temporary Cost or Unrealized Unrealized Fair Impairments (in millions) Cost Gains Losses Value in AOCI (a) September 30, 2019 Bonds available for sale: U.S. government and government sponsored entities $ 4,727 $ 501 $ ( 1) $ 5,227 $ - Obligations of states, municipalities and political subdivisions 14,122 1,640 ( 17) 15,745 - Non-U.S. governments 14,456 999 ( 79) 15,376 - Corporate debt 138,950 12,956 ( 534) 151,372 9 Mortgage-backed, asset-backed and collateralized: RMBS 29,513 3,344 ( 62) 32,795 1,222 CMBS 13,577 771 ( 12) 14,336 34 CDO/ABS 18,000 449 ( 79) 18,370 17 Total mortgage-backed, asset-backed and collateralized 61,090 4,564 ( 153) 65,501 1,273 Total bonds available for sale (b) $ 233,345 $ 20,660 $ ( 784) $ 253,221 $ 1,282 December 31, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 3,170 $ 132 $ ( 42) $ 3,260 $ - Obligations of states, municipalities and political subdivisions 15,421 701 ( 121) 16,001 4 Non-U.S. governments 14,376 451 ( 302) 14,525 - Corporate debt 130,436 3,911 ( 3,647) 130,700 4 Mortgage-backed, asset-backed and collateralized: RMBS 31,940 2,754 ( 317) 34,377 1,155 CMBS 12,673 242 ( 214) 12,701 31 CDO/ABS 17,764 228 ( 165) 17,827 17 Total mortgage-backed, asset-backed and collateralized 62,377 3,224 ( 696) 64,905 1,203 Total bonds available for sale (b) $ 225,780 $ 8,419 $ ( 4,808) $ 229,391 $ 1,211 (a) 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 subsequent to the impairment measurement date. (b) At September 30, 2019 and December 31, 2018, bonds available for sale held by us that were below investment grade or not rated totaled $ 28.0 billion and $ 28.8 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, 2019 Bonds available for sale: U.S. government and government sponsored entities $ 136 $ 1 $ 43 $ - $ 179 $ 1 Obligations of states, municipalities and political subdivisions 383 6 256 11 639 17 Non-U.S. governments 919 27 443 52 1,362 79 Corporate debt 8,794 294 3,244 240 12,038 534 RMBS 2,671 23 1,778 39 4,449 62 CMBS 640 4 343 8 983 12 CDO/ABS 3,979 51 1,892 28 5,871 79 Total bonds available for sale $ 17,522 $ 406 $ 7,999 $ 378 $ 25,521 $ 784 December 31, 2018 Bonds available for sale: U.S. government and government sponsored entities $ 574 $ 13 $ 873 $ 29 $ 1,447 $ 42 Obligations of states, municipalities and political subdivisions 1,965 51 1,530 70 3,495 121 Non-U.S. governments 3,851 149 2,422 153 6,273 302 Corporate debt 47,364 2,181 20,056 1,466 67,420 3,647 RMBS 5,231 94 5,641 223 10,872 317 CMBS 2,646 47 4,264 167 6,910 214 CDO/ABS 9,169 144 1,324 21 10,493 165 Total bonds available for sale $ 70,800 $ 2,679 $ 36,110 $ 2,129 $ 106,910 $ 4,808
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, 2019 Due in one year or less $ 10,910 $ 11,107 $ 1,373 $ 1,339 Due after one year through five years 45,243 46,583 5,878 5,631 Due after five years through ten years 43,042 45,877 3,947 3,756 Due after ten years 73,060 84,153 3,651 3,492 Mortgage-backed, asset-backed and collateralized 61,090 65,501 11,456 11,303 Total $ 233,345 $ 253,221 $ 26,305 $ 25,521 December 31, 2018 Due in one year or less $ 9,539 $ 9,674 $ 2,322 $ 2,294 Due after one year through five years 47,400 47,905 17,382 16,844 Due after five years through ten years 42,363 42,045 27,724 26,517 Due after ten years 64,101 64,862 35,319 32,980 Mortgage-backed, asset-backed and collateralized 62,377 64,905 28,971 28,275 Total $ 225,780 $ 229,391 $ 111,718 $ 106,910
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, 2019 2018 2019 2018 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 $ 198 $ 70 $ 82 $ 71 $ 464 $ 280 $ 252 $ 244 Equity securities - - - - - - 16 - Total $ 198 $ 70 $ 82 $ 71 $ 464 $ 280 $ 268 $ 244
The fair value of AIG's other securities	September 30, 2019 December 31, 2018 Fair Percent Fair Percent (in millions) Value of Total Value of Total Fixed maturity securities: U.S. government and government sponsored entities $ 2,296 25 % $ 2,665 21 % Non-U.S. governments - - 45 - Corporate debt 18 - 1,671 13 Mortgage-backed, asset-backed and collateralized : RMBS 1,297 14 1,714 14 CMBS 403 5 388 3 CDO/ABS and other collateralized * 4,313 47 4,932 39 Total mortgage-backed, asset-backed and collateralized 6,013 66 7,034 56 Total fixed maturity securities 8,327 91 11,415 90 Equity securities 771 9 1,253 10 Total $ 9,098 100 % $ 12,668 100 % * There were no U.S. government agency-backed ABS at September 30, 2019. Includes $ 178 million of U.S. government agency-backed ABS at December 31, 2018.
Components of other invested assets	September 30, December 31, (in millions) 2019 2018 Alternative investments (a) (b) $ 8,532 $ 8,966 Investment real estate (c) 9,491 8,935 All other investments 1,463 1,440 Total $ 19,486 $ 19,341 (a) At September 30, 2019, included hedge funds of $ 3.5 billion, private equity funds of $ 4.7 billion and affordable housing partnerships of $ 336 million. At December 31, 2018, included hedge funds of $ 4.2 billion, private equity funds of $ 4.3 billion and affordable housing partnerships of $ 438 million. (b) At September 30, 2019, approximately 70 percent of our hedge fund portfolio is available for redemption in 2019. The remaining 30 percent will be available for redemption between 2020 and 2027. (c) Net of accumulated depreciation of $ 710 million and $ 598 million at September 30, 2019 and December 31, 2018, respectively.
Components of net investment income	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2019 2018 2019 2018 Available for sale fixed maturity securities, including short-term investments $ 2,698 $ 2,629 $ 8,052 $ 7,775 Other fixed maturity securities (a) 333 60 941 29 Equity securities ( 51) ( 21) 6 ( 50) Interest on mortgage and other loans 495 455 1,511 1,352 Alternative investments (b) 115 329 879 837 Real estate 96 72 227 133 Other investments (a) ( 143) ( 13) ( 203) 11 Total investment income 3,543 3,511 11,413 10,087 Investment expenses 135 115 381 365 Net investment income $ 3,408 $ 3,396 $ 11,032 $ 9,722 (a) In the third quarter of 2019, we reclassified $ 96 million in net investment income of bonds recorded at fair value from Other investments to Other fixed maturity securities. (b) Includes income from hedge funds, private equity funds and affordable housing partnerships. Hedge funds are recorded as of the balance sheet date. Private equity funds are generally reported on a one-quarter lag. Net Realized Capital Gains and Losses
Components of net realized capital gains (losses)	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2019 2018 2019 2018 Sales of fixed maturity securities $ 128 $ 11 $ 184 $ 8 Sales of equity securities - - - 16 Other-than-temporary impairments: Change in intent - ( 3) ( 3) ( 52) Foreign currency declines ( 6) ( 1) ( 15) ( 13) Issuer-specific credit events ( 17) ( 30) ( 113) ( 92) Adverse projected cash flows ( 1) ( 1) ( 6) ( 1) Provision for loan losses ( 25) ( 23) ( 35) ( 73) Foreign exchange transactions ( 203) ( 21) ( 242) ( 155) Variable annuity embedded derivatives, net of related hedges 311 ( 185) 10 ( 2) All other derivatives and hedge accounting 466 ( 1) 601 149 Loss on sale of private equity funds - ( 311) - ( 311) Other 276 54 506 161 Net realized capital gains (losses) $ 929 $ ( 511) $ 887 $ ( 365)
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) 2019 2018 2019 2018 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ 4,377 $ ( 920) $ 16,265 $ ( 8,858) Other investments - ( 31) ( 68) ( 59) Total increase (decrease) in unrealized appreciation (depreciation) of investments $ 4,377 $ ( 951) $ 16,197 $ ( 8,917) The following table summarizes the unrealized gains and losses recognized in Net Investment Income during the reporting period on equity securities still held at the reporting date: Three Months Ended September 30, 2019 2018 Other Other Invested Invested (in millions) Equities Assets Total Equities Assets Total Net gains and losses recognized during the period on equity securities $ ( 51) $ 105 $ 54 $ ( 13) $ 183 $ 170 Less: Net gains and losses recognized during the period on equity securities sold during the period 18 13 31 28 18 46 Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ ( 69) $ 92 $ 23 $ ( 41) $ 165 $ 124 Nine Months Ended September 30, 2019 2018 Other Other Invested Invested (in millions) Equities Assets Total Equities Assets Total Net gains and losses recognized during the period on equity securities $ 6 $ 615 $ 621 $ ( 41) $ 497 $ 456 Less: Net gains and losses recognized during the period on equity securities sold during the period 30 169 199 34 45 79 Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ ( 24) $ 446 $ 422 $ ( 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) 2019 2018 2019 2018 Balance, beginning of period $ 34 $ 188 $ - $ 526 Increases due to: Credit impairments on new securities subject to impairment losses 10 15 105 32 Additional credit impairments on previously impaired securities 8 16 14 61 Reductions due to: Credit impaired securities fully disposed for which there was no prior intent or requirement to sell ( 3) ( 12) ( 62) ( 143) Accretion on securities previously impaired due to credit * ( 7) ( 164) ( 15) ( 433) Balance, end of period $ 42 $ 43 $ 42 $ 43 * 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) $ 35,522 Cash flows expected to be collected * 29,095 Recorded investment in acquired securities 19,648 * Represents undiscounted expected cash flows, including both principal and interest.
Schedule of Purchased Credit Impaired (PCI) Securities, at reporting date	(in millions) September 30, 2019 December 31, 2018 Outstanding principal balance $ 11,016 $ 12,495 Amortized cost 7,434 8,646 Fair value 9,171 10,280
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) 2019 2018 2019 2018 Balance, beginning of period $ 6,402 $ 7,461 $ 7,210 $ 7,501 Newly purchased PCI securities 4 5 17 32 Accretion ( 172) ( 176) ( 495) ( 553) Effect of changes in interest rate indices ( 278) 15 ( 678) 189 Net reclassification from (to) non-accretable difference, including effects of prepayments ( 162) 93 ( 260) 229 Balance, end of period $ 5,794 $ 7,398 $ 5,794 $ 7,398
Schedule of fair value of securities pledged to counterparties under secured financing transactions	(in millions) September 30, 2019 December 31, 2018 Fixed maturity securities available for sale $ 2,781 $ 1,050 Other bond securities, at fair value $ - $ 122
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, 2019 Bonds available for sale: Non-U.S. governments $ 64 $ 61 $ - $ - $ - $ 125 Corporate debt 28 104 - - - 132 Other bond securities: U.S. government and government sponsored entities - - - - - - Non-U.S. governments - - - - - - Corporate debt - - - - - - Total $ 92 $ 165 $ - $ - $ - $ 257 December 31, 2018 Bonds available for sale: Non-U.S. governments $ 25 $ 35 $ - $ - $ - $ 60 Corporate debt 51 55 - - - 106 Other bond securities: U.S. government and government sponsored entities 11 - - - - 11 Non-U.S. governments - 3 - - - 3 Corporate debt 17 38 53 - - 108 Total $ 104 $ 131 $ 53 $ - $ - $ 288 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, 2019 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ - $ - $ 262 $ 128 $ - $ 390 Non-U.S. governments - - - - - - Corporate debt - 1,062 635 437 - 2,134 Total $ - $ 1,062 $ 897 $ 565 $ - $ 2,524 December 31, 2018 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ - $ 50 $ 130 $ - $ - $ 180 Non-U.S. governments - 21 8 - - 29 Corporate debt - 330 345 - - 675 Total $ - $ 401 $ 483 $ - $ - $ 884
Schedule of fair value of securities pledged to the entity under reverse repurchase agreements	(in millions) September 30, 2019 December 31, 2018 Securities collateral pledged to us $ 2,075 $ 426 Amount sold or repledged by us 35 106

LENDING ACTIVITIES (Tables)

LENDING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2019
LENDING ACTIVITIES
Composition of Mortgages and other loans receivable	September 30, December 31, (in millions) 2019 2018 Commercial mortgages * $ 34,954 $ 32,882 Residential mortgages 6,525 6,532 Life insurance policy loans 2,096 2,147 Commercial loans, other loans and notes receivable 1,930 1,971 Total mortgage and other loans receivable 45,505 43,532 Allowance for credit losses ( 430) ( 397) Mortgage and other loans receivable, net $ 45,075 $ 43,135 * 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 percent and percent, respectively, at both September 30, 2019 and December 31, 2018).
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, 2019 Loan-to-Value Ratios (b) Less than 65% $ 20,822 $ 2,771 $ 173 $ 23,766 65% to 75% 9,744 677 93 10,514 76% to 80% 173 19 13 205 Greater than 80% 182 143 144 469 Total commercial mortgages $ 30,921 $ 3,610 $ 423 $ 34,954 December 31, 2018 Loan-to-Value Ratios (b) Less than 65% $ 19,204 $ 2,543 $ 250 $ 21,997 65% to 75% 9,060 300 203 9,563 76% to 80% 476 20 15 511 Greater than 80% 596 103 112 811 Total commercial mortgages $ 29,336 $ 2,966 $ 580 $ 32,882 (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 1.9X for both periods ended September 30, 2019 and December 31, 2018. (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 weighted average loan-to-value ratio was 57 percent and 58 percent at September 30, 2019 and December 31, 2018, 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, 2019 Credit Quality Performance Indicator: In good standing 747 $ 13,263 $ 9,903 $ 5,479 $ 3,348 $ 2,337 $ 519 $ 34,849 100 % Restructured (a) 2 - 90 - - 15 - 105 - 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 749 $ 13,263 $ 9,993 $ 5,479 $ 3,348 $ 2,352 $ 519 $ 34,954 100 % Allowance for credit losses: Specific $ - $ 2 $ 1 $ - $ 6 $ - $ 9 - % General 93 141 44 28 15 5 326 1 Total allowance for credit losses $ 93 $ 143 $ 45 $ 28 $ 21 $ 5 $ 335 1 % December 31, 2018 Credit Quality Performance Indicator: In good standing 762 $ 11,190 $ 9,774 $ 5,645 $ 3,074 $ 2,507 $ 580 $ 32,770 100 % Restructured (a) 2 - 96 - - 16 - 112 - 90 days or less delinquent - - - - - - - - - >90 days delinquent or in process of foreclosure - - - - - - - - - Total (b) 764 $ 11,190 $ 9,870 $ 5,645 $ 3,074 $ 2,523 $ 580 $ 32,882 100 % Allowance for credit losses: Specific $ - $ 2 $ - $ - $ 1 $ - $ 3 - % General 122 104 51 13 19 6 315 1 Total allowance for credit losses $ 122 $ 106 $ 51 $ 13 $ 20 $ 6 $ 318 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 2018 Annual Report. (b) Does not reflect allowance for credit losses. (c) Our commercial mortgage loan portfolio is current as to payments of principal and interest, 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	Nine Months Ended September 30, 2019 2018 Commercial Other Commercial Other (in millions) Mortgages Loans Total Mortgages Loans Total Allowance, beginning of year $ 318 $ 79 $ 397 $ 247 $ 75 $ 322 Loans charged off ( 2) - ( 2) ( 17) - ( 17) Recoveries of loans previously charged off - - - - - - Net charge-offs ( 2) - ( 2) ( 17) - ( 17) Provision for loan losses 19 16 35 66 8 74 Allowance, end of period $ 335 * $ 95 $ 430 $ 296 * $ 83 $ 379 * Of the total allowance, $ 10 million and $ 3 million relate to individually assessed credit losses on $ 151 million and $ 25 million of commercial mortgages at September 30, 2019 and 2018, respectively.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2019
Variable Interest Entity Primary Beneficiary
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	Real Estate and Affordable Investment Securitization Housing (in millions) Entities (d) Vehicles (e) Partnerships Other Total September 30, 2019 Assets: Bonds available for sale $ 211 $ 7,217 $ - $ - $ 7,428 Other bond securities - 3,641 - - 3,641 Mortgage and other loans receivable - 3,520 - - 3,520 Other invested assets 5,774 - 3,518 33 9,325 Other (a) 444 1,934 498 49 2,925 Total assets (b) $ 6,429 $ 16,312 $ 4,016 $ 82 $ 26,839 Liabilities: Long-term debt $ 3,194 $ 3,720 $ 2,121 $ 4 $ 9,039 Other (c) 400 156 184 23 763 Total liabilities $ 3,594 $ 3,876 $ 2,305 $ 27 $ 9,802 December 31, 2018 Assets: Bonds available for sale $ - $ 7,662 $ - $ - $ 7,662 Other bond securities - 3,923 - 2 3,925 Mortgage and other loans receivable - 3,693 - - 3,693 Other invested assets 5,212 - 3,142 24 8,378 Other (a) 580 1,581 394 70 2,625 Total assets (b) $ 5,792 $ 16,859 $ 3,536 $ 96 $ 26,283 Liabilities: Long-term debt $ 2,577 $ 3,154 $ 1,834 $ 4 $ 7,569 Other (c) 227 165 159 24 575 Total liabilities $ 2,804 $ 3,319 $ 1,993 $ 28 $ 8,144 (a) Comprised primarily of Short-term investments and Other assets at September 30, 2019 and December 31, 2018. (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, 2019 and December 31, 2018. (d) At September 30, 2019 and December 31, 2018, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $ 2.7 billion and $ 1.4 billion, respectively. (e) At September 30, 2019 and December 31, 2018, $ 15.5 billion and $ 16.0 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 Entity [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, 2019 Real estate and investment entities (a) $ 278,064 $ 6,537 $ 3,553 $ 10,090 Affordable housing partnerships 3,358 462 - 462 Other 5,387 326 - (c) 326 Total $ 286,809 $ 7,325 $ 3,553 $ 10,878 December 31, 2018 Real estate and investment entities (a) $ 309,598 $ 6,820 $ 2,501 $ 9,321 Affordable housing partnerships 4,116 607 - 607 Other 2,813 284 1,222 (c) 1,506 Total $ 316,527 $ 7,711 $ 3,723 $ 11,434 (a) Comprised primarily of hedge funds and private equity funds. (b) At September 30, 2019 and December 31, 2018, $ 7.0 billion and $ 7.4 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, 2019
DERIVATIVES AND HEDGE ACCOUNTING
Notional amounts and fair values of derivative instruments	September 30, 2019 December 31, 2018 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 $ 624 $ 5 $ 410 $ 8 $ 10 $ - $ 866 $ 19 Foreign exchange contracts 6,614 558 2,212 78 6,357 363 2,536 147 Derivatives not designated as hedging instruments: (a) Interest rate contracts 60,452 4,377 32,595 2,848 42,821 2,890 27,329 2,004 Foreign exchange contracts 11,360 1,104 6,469 862 11,134 801 5,434 711 Equity contracts 20,218 797 8,073 88 17,807 398 2,399 15 Credit contracts (b) 44 1 943 121 8 1 1,406 236 Other contracts (c) 40,804 15 58 8 39,070 15 58 6 Total derivatives, gross $ 140,116 $ 6,857 $ 50,760 $ 4,013 $ 117,207 $ 4,468 $ 40,028 $ 3,138 Counterparty netting (d) ( 2,795) ( 2,795) ( 1,713) ( 1,713) Cash collateral (e) ( 2,937) ( 133) ( 1,840) ( 187) Total derivatives on condensed consolidated balance sheets (f) $ 1,125 $ 1,085 $ 915 $ 1,238 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b) As of September 30, 2019 and December 31, 2018, included CDSs on super senior multi-sector CDOs with a net notional amount of $ 160 million and $ 592 million (fair value liability of $ 91 million and $ 224 million), respectively. The net notional amount represents the maximum exposure to loss on the portfolio. (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 7.2 billion and $ 4.1 billion, respectively, at September 30, 2019 and December 31, 2018. A bifurcated embedded derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets. Embedded derivatives are primarily related to guarantee features in variable annuity products, which include equity and interest rate components.
Gain (loss) recognized in earnings on AIG's derivative instruments in fair value hedging relationships in the Consolidated Statements of Income	Gains/(Losses) Recognized in Earnings for: Hedging Excluded Hedged (in millions) Derivatives (a) Components (b) Items Net Impact Three Months Ended September 30, 2019 Interest rate contracts : Realized capital gains/(losses) $ - $ - $ - $ - Interest credited to policyholder account balances 4 - ( 4) - Net investment income - - - - Foreign exchange contracts : Realized capital gains/(losses) 228 41 ( 228) 41 Three Months Ended September 30, 2018 Interest rate contracts : Realized capital gains/(losses) $ ( 1) $ - $ 1 $ - Interest credited to policyholder account balances - - - - Net investment income - - - - Foreign exchange contracts : Realized capital gains/(losses) ( 16) 5 16 5 Nine Months Ended September 30, 2019 Interest rate contracts : Realized capital gains/(losses) $ - $ - $ - $ - Interest credited to policyholder account balances 18 - ( 18) - Net investment income ( 1) - 1 - Foreign exchange contracts : Realized capital gains/(losses) 278 84 ( 278) 84 Nine Months Ended September 30, 2018 Interest rate contracts : Realized capital gains/(losses) $ ( 9) $ - $ 10 $ 1 Interest credited to policyholder account balances - - - - Net investment income - - - - Foreign exchange contracts : Realized capital gains/(losses) 175 9 ( 175) 9 (a) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are included in the assessment of hedge effectiveness. (b) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are excluded from the assessment of hedge effectiveness and recognized in earnings on a mark-to-market basis.
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) 2019 2018 2019 2018 By Derivative Type: Interest rate contracts $ 1,078 $ ( 270) $ 2,052 $ ( 892) Foreign exchange contracts 342 43 545 295 Equity contracts 96 ( 199) ( 23) ( 386) Credit contracts 26 6 35 18 Other contracts 14 18 48 52 Embedded derivatives ( 756) 229 ( 2,037) 1,164 Total $ 800 $ ( 173) $ 620 $ 251 By Classification: Policy fees $ 16 $ 17 $ 51 $ 51 Net investment income ( 3) - ( 58) ( 3) Net realized capital gains (losses) 780 ( 223) 611 133 Other income - 35 - 76 Policyholder benefits and claims incurred 7 ( 2) 16 ( 6) Total $ 800 $ ( 173) $ 620 $ 251

INSURANCE LIABILITIES (Tables)

INSURANCE LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2019
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-forward of activity in Loss Reserves: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2019 2018 2019 2018 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 81,057 $ 76,713 $ 83,639 $ 78,393 Reinsurance recoverable ( 31,333) ( 27,406) ( 31,690) ( 26,708) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 49,724 49,307 51,949 51,685 Losses and loss adjustment expenses incurred: Current year 5,150 6,670 14,750 15,800 Prior years, excluding discount and amortization of deferred gain ( 74) 949 ( 221) 884 Prior years, discount charge (benefit) 276 3 1,017 ( 174) Prior years, amortization of deferred gain on retroactive reinsurance (a) 13 ( 175) ( 129) ( 283) Total losses and loss adjustment expenses incurred 5,365 7,447 15,417 16,227 Losses and loss adjustment expenses paid: Current year ( 1,702) ( 1,791) ( 3,194) ( 3,289) Prior years ( 4,652) ( 4,526) ( 15,334) ( 14,312) Total losses and loss adjustment expenses paid ( 6,354) ( 6,317) ( 18,528) ( 17,601) Other changes: Foreign exchange effect ( 172) ( 236) ( 165) ( 393) Acquisitions (b) - 3,020 - 3,020 Retroactive reinsurance adjustment (net of discount) (c) 96 ( 464) ( 14) ( 181) Total other changes ( 76) 2,320 ( 179) 2,446 Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 48,659 52,757 48,659 52,757 Reinsurance recoverable 31,224 29,202 31,224 29,202 Total $ 79,883 $ 81,959 $ 79,883 $ 81,959 (a) Includes $ 6 million and $ 9 million for the retroactive reinsurance agreement with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway Inc. (Berkshire), covering U.S. asbestos exposures for the three-month periods ended September 30, 2019 and 2018, respectively, and $ 21 million and $ 22 million for the nine-month periods ended September 30, 2019 and 2018, respectively. (b) Amounts relate to the acquisition of Validus in July 2018. (c) Includes change in discount on retroactive reinsurance of $( 43) million and $ 46 million for the three-month periods ended September 30, 2019 and 2018, respectively, and $( 475) million and $ 154 million for the nine-month periods ended September 30, 2019 and 2018, respectively.
Schedule of loss reserve discount and loss reserve discount benefit (charge)	September 30, 2019 December 31, 2018 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total U.S. workers' compensation $ 2,138 $ 698 $ 2,836 $ 2,782 $ 973 $ 3,755 Retroactive reinsurance ( 1,246) - ( 1,246) ( 1,720) - ( 1,720) Total reserve discount * $ 892 $ 698 $ 1,590 $ 1,062 $ 973 $ 2,035 * Excludes $ 161 million and $ 163 million of discount related to certain long tail liabilities in the United Kingdom at September 30, 2019 and December 31, 2018, respectively. Three Months Ended September 30, 2019 2018 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total Current accident year $ 41 $ - $ 41 $ 89 $ - $ 89 Accretion and other adjustments to prior year discount ( 26) ( 56) ( 82) ( 7) ( 12) ( 19) Effect of interest rate changes ( 136) ( 58) ( 194) 13 3 16 Net reserve discount benefit (charge) ( 121) ( 114) ( 235) 95 ( 9) 86 Change in discount on loss reserves ceded under retroactive reinsurance 43 - 43 ( 46) - ( 46) Net change in total reserve discount (a) $ ( 78) $ ( 114) $ ( 192) $ 49 $ ( 9) $ 40 Nine Months Ended September 30, 2019 2018 North North America America Commercial Legacy Commercial Legacy (in millions) Insurance Portfolio Total Insurance Portfolio Total Current accident year $ 97 $ - $ 97 $ 131 $ - $ 131 Accretion and other adjustments to prior year discount ( 269) ( 80) ( 349) ( 95) ( 42) ( 137) Effect of interest rate changes ( 473) ( 195) ( 668) 232 79 311 Net reserve discount benefit (charge) ( 645) ( 275) ( 920) 268 37 305 Change in discount on loss reserves ceded under retroactive reinsurance 475 - 475 ( 154) - ( 154) Net change in total reserve discount (b) $ ( 170) $ ( 275) $ ( 445) $ 114 $ 37 $ 151 (a) Excludes $( 27) million and $ 12 million discount related to certain long tail liabilities in the United Kingdom for the three-month periods ended September 30, 2019 and 2018, respectively. (b) Excludes $( 1) million and $ 10 million discount related to certain long tail liabilities in the United Kingdom for the nine-month periods ended September 30, 2019 and 2018, respectively.

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Sep. 30, 2019
EQUITY
Rollforward of common stock outstanding	Nine Months Ended September 30, 2019 Common Treasury Common Stock Stock Issued Stock Outstanding Shares, beginning of year 1,906,671,492 ( 1,040,062,063) 866,609,429 Shares issued - 3,339,817 3,339,817 Shares repurchased - - - Shares, end of period 1,906,671,492 ( 1,036,722,246) 869,949,246
Dividends Paid	The following table presents declaration date, record date, payment date and dividends paid per share on AIG Common Stock: Dividends Paid Declaration Date Record Date Payment Date Per Common Share August 7, 2019 September 17, 2019 September 30, 2019 $ 0.32 May 6, 2019 June 14, 2019 June 28, 2019 0.32 February 13, 2019 March 15, 2019 March 29, 2019 0.32 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
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) 2019 2018 Aggregate repurchases of common stock $ - $ 994 Total number of common shares repurchased - 18 Aggregate repurchases of warrants $ - $ 6 Total number of warrants repurchased * - - * For the nine-month period ended September 30, 2019, we did not repurchase any warrants to purchase shares of AIG Common Stock. For the nine-month period ended September 30, 2018, we repurchased 366,253 warrants to purchase shares of AIG Common Stock.
Accumulated Other Comprehensive Income (Loss)	Unrealized Appreciation Fair Value of (Depreciation) of Fixed Unrealized Liabilities Under Maturity Securities on Appreciation Foreign Retirement Fair Value Option Which Other-Than- (Depreciation) Currency Plan Attributable to Temporary Credit of All Other Translation Liabilities Changes in (in millions) Impairments Were Taken Investments Adjustments Adjustment Own Credit Risk Total Balance, June 30, 2019, net of tax $ 720 $ 8,034 $ ( 2,692) $ ( 1,079) $ 8 $ 4,991 Change in unrealized appreciation (depreciation) of investments ( 9) 4,386 - - - 4,377 Change in deferred policy acquisition costs adjustment and other 11 ( 522) - - - ( 511) Change in future policy benefits - ( 3,042) - - - ( 3,042) Change in foreign currency translation adjustments - - ( 24) - - ( 24) Change in net actuarial loss - - - 13 - 13 Change in prior service credit - - - ( 1) - ( 1) Change in deferred tax liability ( 4) ( 166) ( 10) ( 5) - ( 185) Change in fair value of liabilities under fair value option attributable to changes in own credit risk - - - - 1 1 Total other comprehensive income (loss) ( 2) 656 ( 34) 7 1 628 Noncontrolling interests - 5 ( 1) - - 4 Balance, September 30, 2019, net of tax $ 718 $ 8,685 $ ( 2,725) $ ( 1,072) $ 9 $ 5,615 Balance, December 31, 2018, net of tax $ ( 38) $ 2,426 $ ( 2,725) $ ( 1,086) $ 10 $ ( 1,413) Change in unrealized appreciation of investments 935 15,262 - - - 16,197 Change in deferred policy acquisition costs adjustment and other ( 3) ( 2,246) - - - ( 2,249) Change in future policy benefits - ( 5,291) - - - ( 5,291) Change in foreign currency translation adjustments - - 31 - - 31 Change in net actuarial loss - - - 29 - 29 Change in prior service credit - - - ( 2) - ( 2) Change in deferred tax liability ( 176) ( 1,447) ( 30) ( 13) - ( 1,666) Change in fair value of liabilities under fair value option attributable to changes in own credit risk - - - - ( 1) ( 1) Total other comprehensive income (loss) 756 6,278 1 14 ( 1) 7,048 Noncontrolling interests - 19 1 - - 20 Balance, September 30, 2019, net of tax $ 718 $ 8,685 $ ( 2,725) $ ( 1,072) $ 9 $ 5,615 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)
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, 2019 Unrealized change arising during period $ 3 $ 949 $ ( 24) $ 3 $ 1 $ 932 Less: Reclassification adjustments included in net income 1 127 - ( 9) - 119 Total other comprehensive income (loss), before income tax expense 2 822 ( 24) 12 1 813 Less: Income tax expense 4 166 10 5 - 185 Total other comprehensive income (loss), net of income tax expense $ ( 2) $ 656 $ ( 34) $ 7 $ 1 $ 628 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) Nine Months Ended September 30, 2019 Unrealized change arising during period $ 929 $ 7,912 $ 31 $ 3 $ ( 1) $ 8,874 Less: Reclassification adjustments included in net income ( 3) 187 - ( 24) - 160 Total other comprehensive income (loss), before income tax expense 932 7,725 31 27 ( 1) 8,714 Less: Income tax expense 176 1,447 30 13 - 1,666 Total other comprehensive income (loss), net of income tax expense $ 756 $ 6,278 $ 1 $ 14 $ ( 1) $ 7,048 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)
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) 2019 2018 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ 1 $ 1 Other realized capital gains Total 1 1 Unrealized appreciation (depreciation) of all other investments Investments 127 10 Other realized capital gains Deferred acquisition costs adjustment - 30 Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 127 40 Change in retirement plan liabilities adjustment Prior-service credit - - * Actuarial losses ( 9) ( 9) * Total ( 9) ( 9) Total reclassifications for the period $ 119 $ 32 Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Condensed Consolidated Statements of Income Nine Months Ended September 30, (in millions) 2019 2018 Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken Investments $ ( 3) $ 5 Other realized capital gains Total ( 3) 5 Unrealized appreciation (depreciation) of all other investments Investments 187 19 Other realized capital gains Deferred acquisition costs adjustment - - Amortization of deferred policy acquisition costs Future policy benefits - - Policyholder benefits and losses incurred Total 187 19 Change in retirement plan liabilities adjustment Prior-service credit - 1 * Actuarial losses ( 24) ( 27) * Total ( 24) ( 26) Total reclassifications for the period $ 160 $ ( 2) * These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 14 .

EARNINGS PER COMMON SHARE (EP_2

EARNINGS PER COMMON SHARE (EPS) (Tables)	9 Months Ended
	Sep. 30, 2019
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 common share data) 2019 2018 2019 2018 Numerator for EPS: Income (loss) from continuing operations $ 973 $ ( 1,220) $ 3,301 $ 661 Less: Net income from continuing operations attributable to noncontrolling interests 317 - 881 5 Less: Preferred stock dividends 8 - 15 - Income (loss) attributable to AIG common shareholders from continuing operations 648 ( 1,220) 2,405 656 Loss from discontinued operations, net of income tax expense - ( 39) ( 1) ( 40) Net income (loss) attributable to AIG common shareholders $ 648 $ ( 1,259) $ 2,404 $ 616 Denominator for EPS: Weighted average common shares outstanding — basic 877,009,495 895,237,359 876,262,372 902,081,555 Dilutive common shares 18,804,915 - 10,958,744 14,736,714 Weighted average common shares outstanding — diluted (a)(b) 895,814,410 895,237,359 887,221,116 916,818,269 Income (loss) per common share attributable to AIG common shareholders: Basic: Income (loss) from continuing operations $ 0.74 $ ( 1.37) $ 2.74 $ 0.72 Income (loss) from discontinued operations $ - $ ( 0.04) $ - $ ( 0.04) Income (loss) attributable to AIG common shareholders $ 0.74 $ ( 1.41) $ 2.74 $ 0.68 Diluted: Income (loss) from continuing operations $ 0.72 $ ( 1.37) $ 2.71 $ 0.71 Income (loss) from discontinued operations $ - $ ( 0.04) $ - $ ( 0.04) Income (loss) attributable to AIG common shareholders $ 0.72 $ ( 1.41) $ 2.71 $ 0.67 (a) Shares in the diluted EPS calculation represent basic common shares for the three-month period ended September 30, 2018 due to the net loss in that period. The number of common shares excluded from the calculation was 13,538,168 shares. (b) Dilutive common shares include our share-based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011. The number of common shares excluded from diluted shares outstanding was 5.1 million and 24.9 million for the three- and nine-month periods ended September 30, 2019, respectively, and 5.8 million and 4.7 million for the three- and nine-month periods ended September 30, 2018, respectively, because the effect of including those common shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2019
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, 2019 Components of net periodic benefit cost: Service cost $ 2 $ 6 $ 8 $ - $ - $ - Interest cost 44 3 47 2 - 2 Expected return on assets ( 58) ( 5) ( 63) - - - Amortization of prior service cost - - - - - - Amortization of net loss 9 1 10 - - - Net periodic benefit cost (credit) ( 3) 5 2 2 - 2 Settlement charges - - - - - - Net benefit cost (credit) $ ( 3) $ 5 $ 2 $ 2 $ - $ 2 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 Settlement charges - - - - - - Net benefit cost (credit) $ ( 24) $ 6 $ ( 18) $ 1 $ 1 $ 2 Nine Months Ended September 30, 2019 Components of net periodic benefit cost: Service cost $ 7 $ 16 $ 23 $ 1 $ - $ 1 Interest cost 131 11 142 5 1 6 Expected return on assets ( 172) ( 16) ( 188) - - - Amortization of prior service cost (credit) - 1 1 - ( 1) ( 1) Amortization of net (gain) loss 25 4 29 ( 1) - ( 1) Net periodic benefit cost (credit) ( 9) 16 7 5 - 5 Settlement credit - ( 3) ( 3) - - - Net benefit cost (credit) $ ( 9) $ 13 $ 4 $ 5 $ - $ 5 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 Settlement charges - - - - - - Net benefit cost (credit) $ ( 66) $ 17 $ ( 49) $ 4 $ 2 $ 6

INFORMATION PROVIDED IN CONNE_2

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)	9 Months Ended
	Sep. 30, 2019
INFORMATION PROVIDED IN CONNECTION WITH OUTSTADING DEBT
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, 2019 Assets: Short-term investments (a) $ 3,229 $ 2 $ - $ 13,374 $ ( 2,492) $ 14,113 Other investments (b) 4,505 - - 322,375 - 326,880 Total investments 7,734 2 - 335,749 ( 2,492) 340,993 Cash 3 20 1 3,337 - 3,361 Loans to subsidiaries (c) 35,142 - - 752 ( 35,894) - Investment in consolidated subsidiaries (c) 40,115 3,814 33,315 - ( 77,244) - Other assets, including deferred income taxes (d) 15,583 1,792 18 165,222 ( 1,847) 180,768 Total assets $ 98,577 $ 5,628 $ 33,334 $ 505,060 $ ( 117,477) $ 525,122 Liabilities: Insurance liabilities $ - $ - $ - $ 305,993 $ - $ 305,993 Long-term debt 21,905 355 643 12,359 - 35,262 Other liabilities, including intercompany balances (b) 10,321 8 23 110,413 ( 4,343) 116,422 Loans from subsidiaries (c) 748 - - 35,142 ( 35,890) - Total liabilities 32,974 363 666 463,907 ( 40,233) 457,677 Total AIG shareholders’ equity 65,603 5,265 32,668 39,311 ( 77,244) 65,603 Non-redeemable noncontrolling interests - - - 1,842 - 1,842 Total equity 65,603 5,265 32,668 41,153 ( 77,244) 67,445 Total liabilities and equity $ 98,577 $ 5,628 $ 33,334 $ 505,060 $ ( 117,477) $ 525,122 December 31, 2018 Assets: Short-term investments (a) $ 1,141 $ 2 $ - $ 10,329 $ ( 1,798) $ 9,674 Other investments (b) 3,377 - - 301,158 - 304,535 Total investments 4,518 2 - 311,487 ( 1,798) 314,209 Cash 2 9 9 2,853 - 2,873 Loans to subsidiaries (c) 34,963 - - 615 ( 35,578) - Investment in consolidated subsidiaries (c) 33,300 4,029 26,321 - ( 63,650) - Other assets, including deferred income taxes (d) 15,389 1,798 124 159,430 ( 1,839) 174,902 Total assets $ 88,172 $ 5,838 $ 26,454 $ 474,385 $ ( 102,865) $ 491,984 Liabilities: Insurance liabilities $ - $ - $ - $ 293,652 $ - $ 293,652 Long-term debt 22,422 359 643 11,116 - 34,540 Other liabilities, including intercompany balances (b) 8,774 228 144 100,974 ( 3,637) 106,483 Loans from subsidiaries (c) 615 - - 34,963 ( 35,578) - Total liabilities 31,811 587 787 440,705 ( 39,215) 434,675 Total AIG shareholders’ equity 56,361 5,251 25,667 32,732 ( 63,650) 56,361 Non-redeemable noncontrolling interests - - - 948 - 948 Total equity 56,361 5,251 25,667 33,680 ( 63,650) 57,309 Total liabilities and equity $ 88,172 $ 5,838 $ 26,454 $ 474,385 $ ( 102,865) $ 491,984 (a) At September 30, 2019, includes restricted cash of $ 1 million and $ 63 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2018, includes restricted cash of $ 124 million and $ 18 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, 2019, includes restricted cash of $ 1 million and $ 344 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2018, includes restricted cash of $ 1 million and $ 342 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, 2019 Revenues: Equity in earnings of consolidated subsidiaries * $ 998 $ 28 $ 1,011 $ - $ ( 2,037) $ - Other income 279 4 - 12,710 ( 79) 12,914 Total revenues 1,277 32 1,011 12,710 ( 2,116) 12,914 Expenses: Interest expense 245 13 12 81 ( 3) 348 (Gain) loss on extinguishment of debt - ( 9) - 9 - - Other expenses 188 7 1 11,185 ( 75) 11,306 Total expenses 433 11 13 11,275 ( 78) 11,654 Income (loss) from continuing operations before income tax expense (benefit) 844 21 998 1,435 ( 2,038) 1,260 Income tax expense (benefit) 187 - ( 2) 102 - 287 Income (loss) from continuing operations 657 21 1,000 1,333 ( 2,038) 973 Income (loss) from discontinued operations, net of income taxes ( 1) - - 1 - - Net income (loss) 656 21 1,000 1,334 ( 2,038) 973 Less: Net income from continuing operations attributable to noncontrolling interests - - - 317 - 317 Net income (loss) attributable to AIG $ 656 $ 21 $ 1,000 $ 1,017 $ ( 2,038) $ 656 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) American International Validus Reclassifications Group, Inc. Holdings, Other and Consolidated (in millions) (As Guarantor) Ltd. AIGLH Subsidiaries Eliminations AIG Nine Months Ended September 30, 2019 Revenues: Equity in earnings of consolidated subsidiaries * $ 2,873 $ 344 $ 2,989 $ - $ ( 6,206) $ - Other income 843 9 - 37,234 ( 155) 37,931 Total revenues 3,716 353 2,989 37,234 ( 6,361) 37,931 Expenses: Interest expense 741 13 37 277 ( 11) 1,057 Loss on extinguishment of debt - - - 13 - 13 Other expenses 556 12 2 32,183 ( 143) 32,610 Total expenses 1,297 25 39 32,473 ( 154) 33,680 Income (loss) from continuing operations before income tax expense (benefit) 2,419 328 2,950 4,761 ( 6,207) 4,251 Income tax expense (benefit) ( 2) - ( 4) 956 - 950 Income (loss) from continuing operations 2,421 328 2,954 3,805 ( 6,207) 3,301 Income (loss) from discontinued operations, net of income taxes ( 2) - - 1 - ( 1) Net income (loss) 2,419 328 2,954 3,806 ( 6,207) 3,300 Less: Net income from continuing operations attributable to noncontrolling interests - - - 881 - 881 Net income (loss) attributable to AIG $ 2,419 $ 328 $ 2,954 $ 2,925 $ ( 6,207) $ 2,419 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 * 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, 2019 Net income (loss) $ 656 $ 21 $ 1,000 $ 1,334 $ ( 2,038) $ 973 Other comprehensive income (loss) 624 - 303 ( 1,436) 1,137 628 Comprehensive income (loss) 1,280 21 1,303 ( 102) ( 901) 1,601 Total comprehensive income attributable to noncontrolling interests - - - 321 - 321 Comprehensive income (loss) attributable to AIG $ 1,280 $ 21 $ 1,303 $ ( 423) $ ( 901) $ 1,280 Three Months Ended September 30, 2018 Net income (loss) $ ( 1,259) $ ( 82) $ 1,306 $ ( 822) $ ( 402) $ ( 1,259) Other comprehensive income (loss) ( 766) - ( 301) ( 2,229) (a) 2,530 (a) ( 766) Comprehensive income (loss) ( 2,025) ( 82) 1,005 ( 3,051) 2,128 ( 2,025) Total comprehensive income attributable to noncontrolling interests - - - - - - Comprehensive income (loss) attributable to AIG $ ( 2,025) $ ( 82) $ 1,005 $ ( 3,051) $ 2,128 $ ( 2,025) Nine Months Ended September 30, 2019 Net income (loss) $ 2,419 $ 328 $ 2,954 $ 3,806 $ ( 6,207) $ 3,300 Other comprehensive income (loss) 7,028 1 5,521 3,593 ( 9,095) 7,048 Comprehensive income (loss) 9,447 329 8,475 7,399 ( 15,302) 10,348 Total comprehensive income attributable to noncontrolling interests - - - 901 - 901 Comprehensive income (loss) attributable to AIG $ 9,447 $ 329 $ 8,475 $ 6,498 $ ( 15,302) $ 9,447 Nine Months Ended September 30, 2018 Net income (loss) $ 616 $ ( 82) $ 2,459 $ 921 $ ( 3,293) $ 621 Other comprehensive income (loss) ( 5,425) - ( 3,766) (a) ( 6,650) (a) 10,416 (a) ( 5,425) Comprehensive income (loss) ( 4,809) ( 82) ( 1,307) ( 5,729) 7,123 ( 4,804) Total comprehensive income attributable to noncontrolling interests - - - 5 - 5 Comprehensive income (loss) attributable to AIG $ ( 4,809) $ ( 82) $ ( 1,307) $ ( 5,734) $ 7,123 $ ( 4,809) (a) The Other comprehensive income (loss) amounts for Other Subsidiaries and Reclassifications and Eliminations in the three months ended September 30, 2018, have been revised from $( 1.4) billion to $( 2.2) billion and from $ 1.7 billion to $ 2.5 billion, respectively, to correct Comprehensive income (loss) in the three months ended September 30, 2018. The Other comprehensive income (loss) amounts for AIGLH, Other Subsidiaries and Reclassifications and Eliminations in the nine months ended September 30, 2018, have been revised from $ 3.1 billion to $( 3.8) billion, from $ 12.6 billion to $( 6.7) billion and from $( 15.7) billion to $ 10.4 billion, respectively, to correct Comprehensive income (loss) in the nine months ended September 30, 2018. These corrections in the three-and nine-month periods ended September 30, 2018 have no impact on AIG’s consolidated financial statements and is not considered material to previously issued financial statements.
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, 2019 Net cash (used in) provided by operating activities $ 2,755 $ 101 $ 1,462 $ ( 1,068) $ ( 4,039) $ ( 789) Cash flows from investing activities: Sales of investments 2,090 - - 46,921 ( 540) 48,471 Sales of divested businesses, net - - - 2 - 2 Purchase of investments ( 2,395) - - ( 49,654) 540 ( 51,509) Loans to subsidiaries - net 534 - - ( 127) ( 407) - Contributions from (to) subsidiaries - net ( 239) - - - 239 - Net change in short-term investments ( 2,242) - - ( 2,344) - ( 4,586) Other, net 87 - - 2,742 - 2,829 Net cash (used in) investing activities ( 2,165) - - ( 2,460) ( 168) ( 4,793) Cash flows from financing activities: Issuance of long-term debt 595 - - 1,969 - 2,564 Repayments of long-term debt ( 1,006) - - ( 1,415) - ( 2,421) Issuance of preferred stock 485 - - - - 485 Purchase of common stock - - - - - - Intercompany loans - net 127 - - ( 534) 407 - Cash dividends paid on preferred stock ( 15) - - - - ( 15) Cash dividends paid on common stock ( 835) ( 90) ( 1,470) ( 2,479) 4,039 ( 835) Other, net ( 63) - - 6,479 ( 239) 6,177 Net cash (used in) provided by financing activities ( 712) ( 90) ( 1,470) 4,020 4,207 5,955 Effect of exchange rate changes on cash and restricted cash - - - 39 - 39 Change in cash and restricted cash ( 122) 11 ( 8) 531 - 412 Cash and restricted cash at beginning of year 127 9 9 3,213 - 3,358 Cash and restricted cash at end of period $ 5 $ 20 $ 1 $ 3,744 $ - $ 3,770 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 on common stock ( 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
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, 2019 Cash $ 3 $ 20 $ 1 $ 3,337 $ - $ 3,361 Restricted cash included in Short-term investments 1 - - 63 - 64 Restricted cash included in Other assets 1 - - 344 - 345 Total cash and restricted cash shown in the Condensed Consolidating Statements of Cash Flows $ 5 $ 20 $ 1 $ 3,744 $ - $ 3,770 Cash (paid) received during the 2019 period for: Interest: Third party $ ( 735) $ ( 22) $ ( 48) $ ( 207) $ - $ ( 1,012) Intercompany ( 2) 31 - ( 29) - - Taxes: Income tax authorities $ ( 12) $ - $ - $ ( 181) $ - $ ( 193) Intercompany 1,035 2 - ( 1,037) - - 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) - -
Supplementary disclosure of non-cash activities	Nine Months Ended September 30, (in millions) 2019 2018 Intercompany non-cash financing and investing activities: Capital contributions $ 15 $ 2,339 Dividends received in the form of securities 659 745 Return of capital 15 2,706

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)item$ / shares	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)item$ / shares	Sep. 30, 2018USD ($)	Dec. 31, 2018$ / shares
Basis of Presentation [Line Items]
Common Stock, Par or Stated Value Per Share | $ / shares	$ 2.50		$ 2.50		$ 2.5
Net income (loss) attributable to AIG	$ 656	$ (1,259)	$ 2,419	$ 616
Income from continuing operations before income tax expense	1,260	$ (1,527)	4,251	$ 952
Adjustments 2018 [Member]
Basis of Presentation [Line Items]
Net income (loss) attributable to AIG	(134)		(138)
Income from continuing operations before income tax expense	$ (169)		$ (170)
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) - USD ($)	Sep. 30, 2019	Jan. 01, 2019	Jun. 30, 2018	Dec. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Lease liability		$ 823,000,000
Right of use asset		$ 724,000,000
Goodwill	$ 4,100,000,000
Cumulative effect of change in accounting principles	$ 625,000,000		$ 0	$ (8,000,000)

SEGMENT INFORMATION (Details -

SEGMENT INFORMATION (Details - Continuing operations by operating segment) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Total Revenues	$ 12,914	$ 11,486	$ 37,931	$ 34,829
Adjusted pre-tax income (loss)	1,260	(1,527)	4,251	952
AIG Consolidation and Eliminations
Segment Reporting Information [Line Items]
Total Revenues	(153)	(42)	(460)	(214)
Adjusted pre-tax income (loss)	(46)	29	(172)	28
Total AIG Consolidated adjusted revenues and adjusted pre-tax income (loss)
Segment Reporting Information [Line Items]
Total Revenues	12,057	12,035	36,971	35,395
Adjusted pre-tax income (loss)	746	(416)	4,270	2,078
General Insurance | Reportable Segments
Segment Reporting Information [Line Items]
Total Revenues	7,415	7,982	22,744	22,653
Adjusted pre-tax income (loss)	507	(825)	2,755	253
General Insurance | Reportable Segments | North America
Segment Reporting Information [Line Items]
Total Revenues	3,878	4,129	12,001	10,895
Adjusted pre-tax income (loss)	435	(160)	2,087	567
General Insurance | Reportable Segments | International
Segment Reporting Information [Line Items]
Total Revenues	3,537	3,853	10,743	11,758
Adjusted pre-tax income (loss)	72	(665)	668	(314)
Life and Retirement | Reportable Segments
Segment Reporting Information [Line Items]
Total Revenues	3,833	3,146	11,865	10,071
Adjusted pre-tax income (loss)	646	713	2,619	2,567
Life and Retirement | Reportable Segments | Individual Retirement
Segment Reporting Information [Line Items]
Total Revenues	1,416	1,335	4,233	4,062
Adjusted pre-tax income (loss)	387	393	1,483	1,354
Life and Retirement | Reportable Segments | Group Retirement
Segment Reporting Information [Line Items]
Total Revenues	726	718	2,225	2,209
Adjusted pre-tax income (loss)	203	242	728	774
Life and Retirement | Reportable Segments | Life Insurance
Segment Reporting Information [Line Items]
Total Revenues	1,037	809	3,264	2,962
Adjusted pre-tax income (loss)	(7)	16	195	243
Life and Retirement | Reportable Segments | Institutional Markets
Segment Reporting Information [Line Items]
Total Revenues	654	284	2,143	838
Adjusted pre-tax income (loss)	63	62	213	196
Other Operations
Segment Reporting Information [Line Items]
Total Revenues	211	135	625	454
Adjusted pre-tax income (loss)	(454)	(417)	(1,256)	(1,133)
Legacy Portfolio
Segment Reporting Information [Line Items]
Total Revenues	751	814	2,197	2,431
Adjusted pre-tax income (loss)	$ 93	$ 84	$ 324	$ 363

SEGMENT INFORMATION (Details _2

SEGMENT INFORMATION (Details - Continuing operations by operating segment - Pretax operating income to pre-tax income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reconciling items from adjusted pre-tax income (loss) to pre-tax income (loss):
Changes in fair value of equity securities	$ 350	$ 259	$ 1,216	$ 703
Gain (Loss) on extinguishment of debt	0	(1)	(13)	(10)
Income (loss) from divested businesses	(9)	2	(4)	35
Net reserve discount benefit (charge)	(235)	86	(920)	305
Revenues	12,914	11,486	37,931	34,829
Adjusted pre-tax income (loss)	1,260	(1,527)	4,251	952
Reconciling items from adjusted pre-tax income to pre-tax income | Total Revenues
Reconciling items from adjusted pre-tax income (loss) to pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed living benefits	25	(5)	214	(109)
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains (losses)	0	0	0	0
Changes in fair value of equity securities	(51)	0	6	0
Professional fees related to regulatory or accounting changes	0	0	0	0
Other income (expense) - net	16	(4)	27	(29)
Gain (Loss) on extinguishment of debt	0	0	0	0
Net realized capital gains (losses)	867	(540)	713	(430)
Income (loss) from divested businesses	0	0	0	0
Non-operating litigation reserves and settlements	0	0	0	2
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements	0	0	0	0
Net reserve discount benefit (charge)	0	0	0	0
Integration and transaction costs associated with acquired business	0	0	0	0
Restructuring and other costs	0	0	0	0
Reconciling items from adjusted pre-tax income to pre-tax income | Adjusted Pre-Tax Income (loss)
Reconciling items from adjusted pre-tax income (loss) to pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed living benefits	12	(14)	183	(127)
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains (losses)	(65)	76	(39)	46
Changes in fair value of equity securities	(51)	0	6	0
Professional fees related to regulatory or accounting changes	(3)	0	(5)	0
Other income (expense) - net	0	0	0	0
Gain (Loss) on extinguishment of debt	0	(1)	(13)	(10)
Net realized capital gains (losses)	881	(524)	758	(388)
Income (loss) from divested businesses	(9)	2	(4)	35
Non-operating litigation reserves and settlements	(5)	(5)	(6)	(30)
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements	59	(605)	211	(607)
Net reserve discount benefit (charge)	(235)	86	(920)	305
Integration and transaction costs associated with acquired business	(3)	(91)	(16)	(91)
Restructuring and other costs	$ (67)	$ (35)	$ (174)	$ (259)

SEGMENT INFORMATION (Details _3

SEGMENT INFORMATION (Details - Narrative)	9 Months Ended
	Sep. 30, 2019segment
General Insurance
Segment Reporting Information [Line Items]
Number of operating segments	2
Life and Retirement
Segment Reporting Information [Line Items]
Number of operating segments	4

BUSINESS COMBINATION (Details -

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
BUSINESS COMBINATION
Total revenues	$ 12,914	$ 11,486	$ 37,931	$ 36,028
Net income (loss)	973	(1,259)	3,300	576
Net income (loss) attributable to AIG common shareholders	$ 648	$ (1,259)	$ 2,404	$ 571
Basic net income (loss) attributable to AIG common shareholders	$ 0.74	$ (1.41)	$ 2.74	$ 0.63
Diluted net income (loss) attributable to AIG common shareholders	$ 0.72	$ (1.41)	$ 2.71	$ 0.62

BUSINESS COMBINATION (Details_2

BUSINESS COMBINATION (Details - Narrative) - USD ($) $ in Millions	Jul. 18, 2018	Sep. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 4,100
Other invested assets		19,486	$ 19,341
Validus Holding Ltd [Member]
Business Acquisition [Line Items]
Interest acquired	100.00%
Cash consideration paid	$ 5,500
Validus Holding Ltd [Member] | North America Operating Segment [Member]
Business Acquisition [Line Items]
Goodwill	1,800
Validus Holding Ltd [Member] | International Operating Segment [Member]
Business Acquisition [Line Items]
Goodwill	$ 157
AlphaCat [Member]
Business Acquisition [Line Items]
Other invested assets		$ 128

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details - Assets and Liabilities Measured at Fair Value on a Recurring Basis) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	$ 253,221,000,000		$ 253,221,000,000		$ 229,391,000,000
Other bond securities	8,327,000,000		8,327,000,000		11,415,000,000
Equity securities	771,000,000		771,000,000		1,253,000,000
Other invested assets	6,060,000,000		6,060,000,000		5,894,000,000
Derivative Assets, Fair Value, Gross	6,857,000,000		6,857,000,000		4,468,000,000
Derivative assets, Counterparty netting	(2,795,000,000)		(2,795,000,000)		(1,713,000,000)
Derivative assets, Cash collateral	(2,937,000,000)		(2,937,000,000)		(1,840,000,000)
Derivative assets	1,125,000,000		1,125,000,000		915,000,000
Short-term investments, portion measured at fair value	5,577,000,000		5,577,000,000		3,015,000,000
Other assets	1,185,000,000		1,185,000,000		973,000,000
Separate account assets, at fair value	89,125,000,000		89,125,000,000		81,847,000,000
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	7,166,000,000		7,166,000,000		4,116,000,000
Other policyholder funds	3,440,000,000		3,440,000,000		3,568,000,000
Derivative Liabilities, Fair Value, Gross	4,013,000,000		4,013,000,000		3,138,000,000
Derivative liabilities, Counterparty netting	(2,795,000,000)		(2,795,000,000)		(1,713,000,000)
Derivative liabilities, Cash collateral	(133,000,000)		(133,000,000)		(187,000,000)
Derivative liabilities	1,085,000,000		1,085,000,000		1,238,000,000
Other liabilities	1,140,000,000		1,140,000,000		1,265,000,000
Long-term debt, portion measured at fair value	2,287,000,000		2,287,000,000		2,213,000,000
Fair Value Using Net Asset Value Per Share or its equivalent	5,398,000,000		5,398,000,000		4,966,000,000
U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	111,000,000	$ 52,000,000	162,000,000	$ 733,000,000
Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	0	$ 0	62,000,000	$ 16,000,000
Recurring Basis
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	253,221,000,000		253,221,000,000		229,391,000,000
Other bond securities	8,327,000,000		8,327,000,000		11,415,000,000
Equity securities	771,000,000		771,000,000		1,253,000,000
Other invested assets	662,000,000		662,000,000		928,000,000
Derivative assets, Counterparty netting	(2,795,000,000)		(2,795,000,000)		(1,713,000,000)
Derivative assets, Cash collateral	(2,937,000,000)		(2,937,000,000)		(1,840,000,000)
Derivative assets, Counterparty netting and cash collateral	(5,732,000,000)		(5,732,000,000)		(3,553,000,000)
Derivative assets	1,125,000,000		1,125,000,000		915,000,000
Short-term investments, portion measured at fair value	5,577,000,000		5,577,000,000		3,015,000,000
Other assets	60,000,000		60,000,000		58,000,000
Separate account assets, at fair value	89,125,000,000		89,125,000,000		81,847,000,000
Fair value assets measured on recurring basis, total	358,868,000,000		358,868,000,000		328,822,000,000
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	7,166,000,000		7,166,000,000		4,116,000,000
Derivative liabilities, Counterparty netting	(2,795,000,000)		(2,795,000,000)		(1,713,000,000)
Derivative liabilities, Cash collateral	(133,000,000)		(133,000,000)		(187,000,000)
Derivative liabilities, Counterparty netting and cash collateral	(2,928,000,000)		(2,928,000,000)		(1,900,000,000)
Derivative liabilities	1,085,000,000		1,085,000,000		1,238,000,000
Other liabilities	55,000,000		55,000,000		27,000,000
Long-term debt, portion measured at fair value	2,287,000,000		2,287,000,000		2,213,000,000
Fair value liabilities measured on recurring basis, total	10,593,000,000		10,593,000,000		7,594,000,000
Recurring Basis | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	4,382,000,000		4,382,000,000		2,890,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	2,856,000,000		2,856,000,000		2,023,000,000
Recurring Basis | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	1,662,000,000		1,662,000,000		1,164,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	940,000,000		940,000,000		858,000,000
Recurring Basis | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	797,000,000		797,000,000		398,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	88,000,000		88,000,000		15,000,000
Recurring Basis | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	1,000,000		1,000,000		1,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	121,000,000		121,000,000		236,000,000
Recurring Basis | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	15,000,000		15,000,000		15,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	8,000,000		8,000,000		6,000,000
Recurring Basis | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	5,227,000,000		5,227,000,000		3,260,000,000
Other bond securities	2,296,000,000		2,296,000,000		2,665,000,000
Recurring Basis | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,745,000,000		15,745,000,000		16,001,000,000
Recurring Basis | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,376,000,000		15,376,000,000		14,525,000,000
Other bond securities	0		0		45,000,000
Recurring Basis | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	151,372,000,000		151,372,000,000		130,700,000,000
Other bond securities	18,000,000		18,000,000		1,671,000,000
Recurring Basis | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	32,795,000,000		32,795,000,000		34,377,000,000
Other bond securities	1,297,000,000		1,297,000,000		1,714,000,000
Recurring Basis | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	14,336,000,000		14,336,000,000		12,701,000,000
Other bond securities	403,000,000		403,000,000		388,000,000
Recurring Basis | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	18,370,000,000		18,370,000,000		17,827,000,000
Other bond securities	4,313,000,000		4,313,000,000		4,932,000,000
Recurring Basis | Level 1
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	778,000,000		778,000,000		122,000,000
Other bond securities	10,000,000		10,000,000		11,000,000
Equity securities	751,000,000		751,000,000		1,213,000,000
Other invested assets	0		0		0
Derivative Assets, Fair Value, Gross	19,000,000		19,000,000		135,000,000
Short-term investments, portion measured at fair value	2,988,000,000		2,988,000,000		2,416,000,000
Other assets	0		0		0
Separate account assets, at fair value	84,707,000,000		84,707,000,000		77,202,000,000
Fair value assets measured on recurring basis, total	89,253,000,000		89,253,000,000		81,099,000,000
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0		0
Derivative Liabilities, Fair Value, Gross	15,000,000		15,000,000		16,000,000
Other liabilities	0		0		16,000,000
Long-term debt, portion measured at fair value	0		0		0
Fair value liabilities measured on recurring basis, total	15,000,000		15,000,000		32,000,000
Recurring Basis | Level 1 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	1,000,000		1,000,000		2,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	3,000,000		3,000,000		4,000,000
Recurring Basis | Level 1 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	0		0		0
Recurring Basis | Level 1 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	18,000,000		18,000,000		133,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	12,000,000		12,000,000		12,000,000
Recurring Basis | Level 1 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	0		0		0
Recurring Basis | Level 1 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	0		0		0
Recurring Basis | Level 1 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	684,000,000		684,000,000		53,000,000
Other bond securities	10,000,000		10,000,000		11,000,000
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
Recurring Basis | Level 1 | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	94,000,000		94,000,000		69,000,000
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 2
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	225,499,000,000		225,499,000,000		202,176,000,000
Other bond securities	3,503,000,000		3,503,000,000		5,559,000,000
Equity securities	12,000,000		12,000,000		13,000,000
Other invested assets	73,000,000		73,000,000		341,000,000
Derivative Assets, Fair Value, Gross	6,718,000,000		6,718,000,000		4,237,000,000
Short-term investments, portion measured at fair value	2,589,000,000		2,589,000,000		599,000,000
Other assets	0		0		0
Separate account assets, at fair value	4,418,000,000		4,418,000,000		4,645,000,000
Fair value assets measured on recurring basis, total	242,812,000,000		242,812,000,000		217,570,000,000
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0		0
Derivative Liabilities, Fair Value, Gross	3,885,000,000		3,885,000,000		2,873,000,000
Other liabilities	55,000,000		55,000,000		11,000,000
Long-term debt, portion measured at fair value	2,287,000,000		2,287,000,000		2,213,000,000
Fair value liabilities measured on recurring basis, total	6,227,000,000		6,227,000,000		5,097,000,000
Recurring Basis | Level 2 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	4,381,000,000		4,381,000,000		2,888,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	2,853,000,000		2,853,000,000		2,004,000,000
Recurring Basis | Level 2 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	1,661,000,000		1,661,000,000		1,159,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	940,000,000		940,000,000		858,000,000
Recurring Basis | Level 2 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	676,000,000		676,000,000		190,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	74,000,000		74,000,000		3,000,000
Recurring Basis | Level 2 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	18,000,000		18,000,000		8,000,000
Recurring Basis | Level 2 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	0		0		0
Recurring Basis | Level 2 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	4,543,000,000		4,543,000,000		3,207,000,000
Other bond securities	2,286,000,000		2,286,000,000		2,654,000,000
Recurring Basis | Level 2 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	13,638,000,000		13,638,000,000		14,001,000,000
Recurring Basis | Level 2 | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,269,000,000		15,269,000,000		14,445,000,000
Other bond securities	0		0		45,000,000
Recurring Basis | Level 2 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	150,097,000,000		150,097,000,000		129,836,000,000
Other bond securities	18,000,000		18,000,000		1,671,000,000
Recurring Basis | Level 2 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	19,235,000,000		19,235,000,000		20,178,000,000
Other bond securities	482,000,000		482,000,000		424,000,000
Recurring Basis | Level 2 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	13,286,000,000		13,286,000,000		11,784,000,000
Other bond securities	335,000,000		335,000,000		311,000,000
Recurring Basis | Level 2 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	9,431,000,000		9,431,000,000		8,725,000,000
Other bond securities	382,000,000		382,000,000		454,000,000
Recurring Basis | Level 3
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	26,944,000,000		26,944,000,000		27,093,000,000
Other bond securities	4,814,000,000		4,814,000,000		5,845,000,000
Equity securities	8,000,000		8,000,000		27,000,000
Other invested assets	589,000,000		589,000,000		587,000,000
Derivative Assets, Fair Value, Gross	120,000,000		120,000,000		96,000,000
Short-term investments, portion measured at fair value	0		0		0
Other assets	60,000,000		60,000,000		58,000,000
Separate account assets, at fair value	0		0		0
Fair value assets measured on recurring basis, total	32,535,000,000		32,535,000,000		33,706,000,000
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	7,166,000,000		7,166,000,000		4,116,000,000
Derivative Liabilities, Fair Value, Gross	113,000,000		113,000,000		249,000,000
Other liabilities	0		0		0
Long-term debt, portion measured at fair value	0		0		0
Fair value liabilities measured on recurring basis, total	7,279,000,000		7,279,000,000		4,365,000,000
Recurring Basis | Level 3 | Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	0		0		15,000,000
Recurring Basis | Level 3 | Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	1,000,000		1,000,000		5,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	0		0		0
Recurring Basis | Level 3 | Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	103,000,000		103,000,000		75,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	2,000,000		2,000,000		0
Recurring Basis | Level 3 | Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	1,000,000		1,000,000		1,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	103,000,000		103,000,000		228,000,000
Recurring Basis | Level 3 | Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value, Gross	15,000,000		15,000,000		15,000,000
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value, Gross	8,000,000		8,000,000		6,000,000
Recurring Basis | Level 3 | U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis | Level 3 | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,107,000,000		2,107,000,000		2,000,000,000
Recurring Basis | Level 3 | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	13,000,000		13,000,000		11,000,000
Other bond securities	0		0		0
Recurring Basis | Level 3 | Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1,275,000,000		1,275,000,000		864,000,000
Other bond securities	0		0		0
Recurring Basis | Level 3 | Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	13,560,000,000		13,560,000,000		14,199,000,000
Other bond securities	815,000,000		815,000,000		1,290,000,000
Recurring Basis | Level 3 | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1,050,000,000		1,050,000,000		917,000,000
Other bond securities	68,000,000		68,000,000		77,000,000
Recurring Basis | Level 3 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	8,939,000,000		8,939,000,000		9,102,000,000
Other bond securities	$ 3,931,000,000		$ 3,931,000,000		$ 4,478,000,000

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	$ 33,782	$ 32,245	$ 33,610	$ 35,763
Net Realized and Unrealized Gains (Losses) Included in Income	271	342	988	1,020
Other Comprehensive Income (Loss)	201	(88)	843	(299)
Purchases, Sales, Issuances and Settlements, Net	(1,373)	(766)	(2,724)	(3,451)
Gross Transfers In, assets	142	1,817	1,441	2,441
Gross Transfers Out, assets	(608)	(91)	(1,743)	(2,015)
Acquisitions		180		180
Balance End of Period	32,415	33,639	32,415	33,639
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	32	(39)	142	382
Liabilities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	6,130	3,710	4,269	4,323
Net realized and unrealized gains and losses related to Level 3 items, liabilities	835	(281)	2,287	(1,070)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	194	85	603	259
Gross Transfers In, liabilities	0	0	0	0
Gross Transfers Out, liabilities	0	0	0	2
Acquisitions, Liabilities		0		0
Balance at the End of the Period	7,159	3,514	7,159	3,514
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities	(675)	209	(1,961)	1,148
Policyholder contract deposits
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	6,065	3,534	4,116	4,136
Net realized and unrealized gains and losses related to Level 3 items, liabilities	861	(242)	2,400	(986)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	240	84	650	226
Gross Transfers In, liabilities	0	0	0	0
Gross Transfers Out, liabilities	0	0	0	0
Acquisitions, Liabilities		0		0
Balance at the End of the Period	7,166	3,376	7,166	3,376
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities	(691)	179	(2,044)	1,081
Derivative liabilities, net
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	65	176	153	187
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(26)	(39)	(113)	(84)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(46)	1	(47)	33
Gross Transfers In, liabilities	0	0	0	0
Gross Transfers Out, liabilities	0	0	0	2
Acquisitions, Liabilities		0		0
Balance at the End of the Period	(7)	138	(7)	138
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities	16	30	83	67
Interest rate contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	16	14	15	22
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(3)	(1)	0	(5)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(13)	(1)	(15)	(5)
Gross Transfers In, liabilities	0	0	0	0
Gross Transfers Out, liabilities	0	0	0	0
Acquisitions, Liabilities		0		0
Balance at the End of the Period	0	12	0	12
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities	0	1	1	5
Foreign exchange contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(4)	5	(5)	0
Net realized and unrealized gains and losses related to Level 3 items, liabilities	6	2	(4)	(2)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(3)	(2)	8	7
Gross Transfers In, liabilities	0	0	0	0
Gross Transfers Out, liabilities	0	0	0	0
Acquisitions, Liabilities		0		0
Balance at the End of the Period	(1)	5	(1)	5
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities	0	(5)	0	(5)
Equity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(113)	(79)	(75)	(82)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	12	(12)	(8)	(3)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	0	(12)	(18)	(20)
Gross Transfers In, liabilities	0	0	0	0
Gross Transfers Out, liabilities	0	0	0	2
Acquisitions, Liabilities		0		0
Balance at the End of the Period	(101)	(103)	(101)	(103)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities	(13)	10	19	2
Credit contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	173	246	227	262
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(24)	(9)	(51)	(23)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(47)	(1)	(74)	(3)
Gross Transfers In, liabilities	0	0	0	0
Gross Transfers Out, liabilities	0	0	0	0
Acquisitions, Liabilities		0		0
Balance at the End of the Period	102	236	102	236
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities	14	10	13	23
Other contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(7)	(10)	(9)	(15)
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(17)	(19)	(50)	(51)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	17	17	52	54
Gross Transfers In, liabilities	0	0	0	0
Gross Transfers Out, liabilities	0	0	0	0
Acquisitions, Liabilities		0		0
Balance at the End of the Period	(7)	(12)	(7)	(12)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities	15	14	50	42
Bonds available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	28,013	25,778	27,093	28,996
Net Realized and Unrealized Gains (Losses) Included in Income	140	249	591	619
Other Comprehensive Income (Loss)	201	(88)	842	(300)
Purchases, Sales, Issuances and Settlements, Net	(946)	(447)	(1,390)	(2,531)
Gross Transfers In, assets	140	1,763	1,439	2,386
Gross Transfers Out, assets	(604)	(91)	(1,631)	(2,006)
Acquisitions		172		172
Balance End of Period	26,944	27,336	26,944	27,336
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	2,162	2,056	2,000	2,404
Net Realized and Unrealized Gains (Losses) Included in Income	(1)	0	(2)	1
Other Comprehensive Income (Loss)	119	(37)	321	(152)
Purchases, Sales, Issuances and Settlements, Net	92	(46)	178	(144)
Gross Transfers In, assets	0	54	35	54
Gross Transfers Out, assets	(265)	(31)	(425)	(167)
Acquisitions		0		0
Balance End of Period	2,107	1,996	2,107	1,996
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	2	0	11	8
Net Realized and Unrealized Gains (Losses) Included in Income	6	0	5	(5)
Other Comprehensive Income (Loss)	0	(1)	0	5
Purchases, Sales, Issuances and Settlements, Net	0	1	(4)	(3)
Gross Transfers In, assets	5	4	5	4
Gross Transfers Out, assets	0	0	(4)	(5)
Acquisitions		0		0
Balance End of Period	13	4	13	4
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1,821	884	864	1,173
Net Realized and Unrealized Gains (Losses) Included in Income	(36)	7	(10)	(58)
Other Comprehensive Income (Loss)	(2)	(10)	79	(7)
Purchases, Sales, Issuances and Settlements, Net	(535)	(28)	(600)	(174)
Gross Transfers In, assets	112	133	1,155	701
Gross Transfers Out, assets	(85)	(44)	(213)	(693)
Acquisitions		0		0
Balance End of Period	1,275	942	1,275	942
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	13,863	15,377	14,199	16,136
Net Realized and Unrealized Gains (Losses) Included in Income	166	213	575	632
Other Comprehensive Income (Loss)	15	5	176	5
Purchases, Sales, Issuances and Settlements, Net	(418)	(725)	(1,234)	(1,877)
Gross Transfers In, assets	16	0	83	8
Gross Transfers Out, assets	(82)	(16)	(239)	(50)
Acquisitions		7		7
Balance End of Period	13,560	14,861	13,560	14,861
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0	0	0
Bonds available for sale | Commercial mortgage-backed securities (CMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1,103	605	917	624
Net Realized and Unrealized Gains (Losses) Included in Income	2	14	8	18
Other Comprehensive Income (Loss)	32	(14)	62	(35)
Purchases, Sales, Issuances and Settlements, Net	85	31	381	1
Gross Transfers In, assets	0	64	58	111
Gross Transfers Out, assets	(172)	0	(376)	(19)
Acquisitions		1		1
Balance End of Period	1,050	701	1,050	701
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	9,062	6,856	9,102	8,651
Net Realized and Unrealized Gains (Losses) Included in Income	3	15	15	31
Other Comprehensive Income (Loss)	37	(31)	204	(116)
Purchases, Sales, Issuances and Settlements, Net	(170)	320	(111)	(334)
Gross Transfers In, assets	7	1,508	103	1,508
Gross Transfers Out, assets	0	0	(374)	(1,072)
Acquisitions		164		164
Balance End of Period	8,939	8,832	8,939	8,832
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	5,068	6,068	5,845	6,512
Net Realized and Unrealized Gains (Losses) Included in Income	125	92	373	351
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(375)	(342)	(1,293)	(1,037)
Gross Transfers In, assets	0	54	0	55
Gross Transfers Out, assets	(4)	0	(111)	(9)
Acquisitions		8		8
Balance End of Period	4,814	5,880	4,814	5,880
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	27	(39)	113	326
Other bond securities | Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	18	0	18
Net Realized and Unrealized Gains (Losses) Included in Income	0	0	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	0	(18)	0	(18)
Gross Transfers In, assets	0	0	0	0
Gross Transfers Out, assets	0	0	0	0
Acquisitions		0		0
Balance End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	(2)	0	(1)
Other bond securities | Residential mortgage-backed securities (RMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	830	1,338	1,290	1,464
Net Realized and Unrealized Gains (Losses) Included in Income	9	18	69	73
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(24)	(57)	(544)	(238)
Gross Transfers In, assets	0	50	0	50
Gross Transfers Out, assets	0	0	0	0
Acquisitions		0		0
Balance End of Period	815	1,349	815	1,349
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	1	(29)	(18)	124
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	88	71	77	74
Net Realized and Unrealized Gains (Losses) Included in Income	1	(2)	5	(5)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(17)	0	0	(1)
Gross Transfers In, assets	0	4	0	5
Gross Transfers Out, assets	(4)	0	(14)	0
Acquisitions		0		0
Balance End of Period	68	73	68	73
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(2)	(2)	3	2
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	4,150	4,641	4,478	4,956
Net Realized and Unrealized Gains (Losses) Included in Income	115	76	299	283
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(334)	(267)	(749)	(780)
Gross Transfers In, assets	0	0	0	0
Gross Transfers Out, assets	0	0	(97)	(9)
Acquisitions		8		8
Balance End of Period	3,931	4,458	3,931	4,458
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	28	(6)	128	201
Equity securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	35	0	27	0
Net Realized and Unrealized Gains (Losses) Included in Income	0	1	0	(2)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(29)	24	(20)	27
Gross Transfers In, assets	2	0	2	0
Gross Transfers Out, assets	0	0	(1)	0
Acquisitions		0		0
Balance End of Period	8	25	8	25
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(2)	0	2	0
Mortgage and other loans receivable
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	0	0	5
Net Realized and Unrealized Gains (Losses) Included in Income	0	0	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	0	0	0	(5)
Gross Transfers In, assets	0	0	0	0
Gross Transfers Out, assets	0	0	0	0
Acquisitions		0		0
Balance End of Period	0	0	0	0
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	605	399	587	250
Net Realized and Unrealized Gains (Losses) Included in Income	6	0	24	52
Other Comprehensive Income (Loss)	0	0	1	1
Purchases, Sales, Issuances and Settlements, Net	(22)	(1)	(23)	95
Gross Transfers In, assets	0	0	0	0
Gross Transfers Out, assets	0	0	0	0
Acquisitions		0		0
Balance End of Period	589	398	589	398
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	7	0	27	56
Other assets
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	61		58
Net Realized and Unrealized Gains (Losses) Included in Income	0		0
Other Comprehensive Income (Loss)	0		0
Purchases, Sales, Issuances and Settlements, Net	(1)	$ 0	2	$ 0
Gross Transfers In, assets	0		0
Gross Transfers Out, assets	0		0
Balance End of Period	60		60
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	$ 0		$ 0

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	$ 271	$ 342	$ 988	$ 1,020
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	861	(242)	2,400	(986)
Policyholder contract deposits | Investment Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [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 and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	861	(242)	2,400	(986)
Policyholder contract deposits | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [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 and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(26)	(39)	(113)	(84)
Derivative liabilities, net | Investment Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [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 and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(11)	(1)	(64)	(3)
Derivative liabilities, net | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(15)	(38)	(49)	(81)
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	140	249	591	619
Bonds available for sale | Investment Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	164	249	651	731
Bonds available for sale | Net realized capital gains (losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	(24)	0	(60)	(112)
Bonds available for sale | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [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 and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	125	92	373	351
Other bond securities | Investment Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	110	35	306	92
Other bond securities | Net realized capital gains (losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	15	1	67	(3)
Other bond securities | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0	56	0	262
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0	1	0	(2)
Equity securities | Investment Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0	1	0	(2)
Equity securities | Net realized capital gains (losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0	0	0	0
Equity securities | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0	0	0	0
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	6	0	24	52
Other invested assets | Investment Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	7	0	25	57
Other invested assets | Net realized capital gains (losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	(1)	0	(1)	0
Other invested assets | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	$ 0	$ 0	$ 0	$ (5)

FAIR VALUE MEASUREMENTS (Deta_4

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issuances and settlements) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, Sales, Issuances and Settlements, Net, assets	$ (1,373,000,000)	$ (766,000,000)	$ (2,724,000,000)	$ (3,451,000,000)
Issuances	0	0	0	0
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		17,000,000	(40,000,000)	41,000,000
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.	24,000,000	2,000,000	28,000,000	(20,000,000)
Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	(7,000,000)	(18,000,000)	(29,000,000)	(37,000,000)
Sales, liabilities	240,000,000	148,000,000	616,000,000	391,000,000
Settlements, liabilities	(39,000,000)	(45,000,000)	16,000,000	(95,000,000)
Purchases, Sales, Issuances and Settlements, Net, liabilities	194,000,000	85,000,000	603,000,000	259,000,000
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	240,000,000	148,000,000	616,000,000	391,000,000
Settlements, liabilities	0	(64,000,000)	34,000,000	(165,000,000)
Purchases, Sales, Issuances and Settlements, Net, liabilities	240,000,000	84,000,000	650,000,000	226,000,000
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	(7,000,000)	(18,000,000)	(29,000,000)	(37,000,000)
Sales, liabilities	0	0	0	0
Settlements, liabilities	(39,000,000)	19,000,000	(18,000,000)	70,000,000
Purchases, Sales, Issuances and Settlements, Net, liabilities	(46,000,000)	1,000,000	(47,000,000)	33,000,000
Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	934,000,000	624,000,000	3,335,000,000	2,551,000,000
Sales, assets	(495,000,000)	(61,000,000)	(1,285,000,000)	(1,272,000,000)
Settlements, assets	(1,812,000,000)	(1,329,000,000)	(4,774,000,000)	(4,730,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	(1,373,000,000)	(766,000,000)	(2,724,000,000)	(3,451,000,000)
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	913,000,000	600,000,000	3,244,000,000	2,370,000,000
Sales, assets	(326,000,000)	(61,000,000)	(679,000,000)	(1,200,000,000)
Settlements, assets	(1,533,000,000)	(986,000,000)	(3,955,000,000)	(3,701,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	(946,000,000)	(447,000,000)	(1,390,000,000)	(2,531,000,000)
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	109,000,000	0	243,000,000	24,000,000
Sales, assets	0	(8,000,000)	(16,000,000)	(8,000,000)
Settlements, assets	(17,000,000)	(38,000,000)	(49,000,000)	(160,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	92,000,000	(46,000,000)	178,000,000	(144,000,000)
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	0	0	2,000,000
Sales, assets	0	0	0	0
Settlements, assets	0	1,000,000	(4,000,000)	(5,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	0	1,000,000	(4,000,000)	(3,000,000)
Bonds available for sale | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	1,000,000	25,000,000	58,000,000	280,000,000
Sales, assets	(128,000,000)	0	(129,000,000)	(216,000,000)
Settlements, assets	(408,000,000)	(53,000,000)	(529,000,000)	(238,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	(535,000,000)	(28,000,000)	(600,000,000)	(174,000,000)
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	253,000,000	123,000,000	860,000,000	630,000,000
Sales, assets	0	(2,000,000)	(26,000,000)	(12,000,000)
Settlements, assets	(671,000,000)	(846,000,000)	(2,068,000,000)	(2,495,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	(418,000,000)	(725,000,000)	(1,234,000,000)	(1,877,000,000)
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	92,000,000	58,000,000	455,000,000	70,000,000
Sales, assets	0	(2,000,000)	0	(2,000,000)
Settlements, assets	(7,000,000)	(25,000,000)	(74,000,000)	(67,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	85,000,000	31,000,000	381,000,000	1,000,000
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	458,000,000	394,000,000	1,628,000,000	1,364,000,000
Sales, assets	(198,000,000)	(49,000,000)	(508,000,000)	(962,000,000)
Settlements, assets	(430,000,000)	(25,000,000)	(1,231,000,000)	(736,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	(170,000,000)	320,000,000	(111,000,000)	(334,000,000)
Other bond securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0	18,000,000	1,000,000
Sales, assets	(169,000,000)	0	(606,000,000)	(38,000,000)
Settlements, assets	(206,000,000)	(342,000,000)	(705,000,000)	(1,000,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	(375,000,000)	(342,000,000)	(1,293,000,000)	(1,037,000,000)
Other bond securities | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets		0		0
Settlements, assets		(18,000,000)		(18,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	0	(18,000,000)	0	(18,000,000)
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	0	1,000,000
Sales, assets	0	0	(437,000,000)	(34,000,000)
Settlements, assets	(24,000,000)	(57,000,000)	(107,000,000)	(205,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	(24,000,000)	(57,000,000)	(544,000,000)	(238,000,000)
Other bond securities | Commercial mortgage-backed securities (CMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0	18,000,000	0
Sales, assets	(16,000,000)	0	(16,000,000)	0
Settlements, assets	(1,000,000)	0	(2,000,000)	(1,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	(17,000,000)	0	0	(1,000,000)
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	(153,000,000)	0	(153,000,000)	(4,000,000)
Settlements, assets	(181,000,000)	(267,000,000)	(596,000,000)	(776,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	(334,000,000)	(267,000,000)	(749,000,000)	(780,000,000)
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	24,000,000	9,000,000	27,000,000
Sales, assets	0	0	0	0
Settlements, assets	(29,000,000)	0	(29,000,000)	0
Purchases, Sales, Issuances and Settlements, Net, assets	(29,000,000)	24,000,000	(20,000,000)	27,000,000
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	0	0
Sales, assets	0	0	0	(5,000,000)
Settlements, assets	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net, assets	0	0	0	(5,000,000)
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	21,000,000	0	64,000,000	153,000,000
Sales, assets	0	0	0	(29,000,000)
Settlements, assets	(43,000,000)	(1,000,000)	(87,000,000)	(29,000,000)
Purchases, Sales, Issuances and Settlements, Net, assets	(22,000,000)	(1,000,000)	(23,000,000)	95,000,000
Other assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0	0	0
Sales, assets	0	0	0	0
Settlements, assets	(1,000,000)	0	2,000,000	0
Purchases, Sales, Issuances and Settlements, Net, assets	$ (1,000,000)	$ 0	$ 2,000,000	$ 0

FAIR VALUE MEASUREMENTS (Deta_5

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Assets) $ in Millions	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Obligations of states, municipalities and political subdivisions | Minimum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0312	0.0391
Obligations of states, municipalities and political subdivisions | Maximum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0374	0.0500
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	0.0343	0.0446
Obligations of states, municipalities and political subdivisions | Discounted cash flow | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,590	$ 1,473
Corporate debt | Minimum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0295	0.0435
Corporate debt | Maximum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0703	0.0599
Corporate debt | Weighted-average | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0499	0.0517
Corporate debt | Discounted cash flow | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 781	$ 445
Residential mortgage-backed securities | Minimum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0229	0.0331
Residential mortgage-backed securities | Minimum | Measurement Input Constant Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0387	0.0458
Residential mortgage-backed securities | Minimum | Measurement Input Loss Severity [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.3665	0.3966
Residential mortgage-backed securities | Minimum | Measurement Input Constant Default Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0181	0.0246
Residential mortgage-backed securities | Maximum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0447	0.0550
Residential mortgage-backed securities | Maximum | Measurement Input Constant Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.1223	0.1400
Residential mortgage-backed securities | Maximum | Measurement Input Loss Severity [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.7825	0.7440
Residential mortgage-backed securities | Maximum | Measurement Input Constant Default Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0641	0.0739
Residential mortgage-backed securities | Weighted-average | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0338	0.0440
Residential mortgage-backed securities | Weighted-average | Measurement Input Constant Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0805	0.0929
Residential mortgage-backed securities | Weighted-average | Measurement Input Loss Severity [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.5745	0.5703
Residential mortgage-backed securities | Weighted-average | Measurement Input Constant Default Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0411	0.0492
Residential mortgage-backed securities | Discounted cash flow | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 12,350	$ 13,608
Certain CDO/ABS | Minimum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0273	0.0365
Certain CDO/ABS | Maximum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0475	0.0510
Certain CDO/ABS | Weighted-average | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0374	0.0437
Certain CDO/ABS | Discounted cash flow | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 5,903	$ 5,461
Commercial mortgage backed securities | Minimum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0248	0.0329
Commercial mortgage backed securities | Maximum | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0482	0.0607
Commercial mortgage backed securities | Weighted-average | Measurement Input Yield [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt instrument, measurement input	0.0365	0.0468
Commercial mortgage backed securities | Discounted cash flow | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 499	$ 447

FAIR VALUE MEASUREMENTS (Deta_6

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Liabilities) $ in Millions	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
GMWB | Minimum | Measurement Input Equity Volatility [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.0615	0.0605
GMWB | Minimum | Measurement Input Base Lapse Rates [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.0016	0.0016
GMWB | Minimum | Measurement Input Dynamic Lapse Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.5000	0.2000
GMWB | Minimum | Measurement Input Mortality Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.3800	0.4000
GMWB | Minimum | Measurement Input Utilization Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.9000	0.9000
GMWB | Minimum | Measurement Input Equity Interest Rate Correlation [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.2000	0.2000
GMWB | Maximum | Measurement Input Equity Volatility [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.4865	0.4765
GMWB | Maximum | Measurement Input Base Lapse Rates [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.1260	0.1260
GMWB | Maximum | Measurement Input Dynamic Lapse Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	1.4300	1.8000
GMWB | Maximum | Measurement Input Mortality Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	1.5500	1.5300
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	0.4000	0.4000
GMWB | Discounted cash flow | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 3,168	$ 1,943
Index Annuities | Minimum | Measurement Input Mortality Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.2400	0.4200
Index Annuities | Minimum | Measurement Input Lapse Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.0031	0.0050
Index Annuities | Minimum | Measurement Input Options Budget [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.0100	0.0100
Index Annuities | Maximum | Measurement Input Mortality Multiplier [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	1.8000	1.6200
Index Annuities | Maximum | Measurement Input Lapse Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.5000	0.4000
Index Annuities | Maximum | Measurement Input Options Budget [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.0400	0.0300
Index Annuities | Discounted cash flow | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 3,470	$ 1,778
Indexed Life | Minimum | Measurement Input Base Lapse Rates [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0	0
Indexed Life | Minimum | Measurement Input Mortality Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0	0
Indexed Life | Maximum | Measurement Input Base Lapse Rates [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	0.3797	0.1300
Indexed Life | Maximum | Measurement Input Mortality Rate [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Embedded derivative liability, measurement input	1	1
Indexed Life | Discounted cash flow | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 502	$ 374

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, 2019	Dec. 31, 2018
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 5,398	$ 4,966
Unfunded Commitments	2,629	1,956
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	3,086	2,250
Unfunded Commitments	$ 2,628	1,947
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	15.00%
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	45.00%
Direct private equity | Expected remaining lives of 7 to 10 years | Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Third threshold level of remaining lives	10 years
Direct private equity | Expected remaining lives of 7 to 10 years | Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Third threshold level of remaining lives	7 years
Leveraged buyout
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 1,152	847
Unfunded Commitments	1,326	1,327
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	341	190
Unfunded Commitments	387	83
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	126
Unfunded Commitments	122	127
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	411	362
Unfunded Commitments	72	28
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	341	211
Unfunded Commitments	472	75
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	739	514
Unfunded Commitments	249	307
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	2,312	2,716
Unfunded Commitments	1	9
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	753	787
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	548	863
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	848	887
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	1	21
Unfunded Commitments	0	8
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	162	158
Unfunded Commitments	$ 1	$ 1

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option gain (loss)	$ 350	$ 259	$ 1,216	$ 703
Bond and equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option gain (loss)	333	122	971	274
Alternative investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option gain (loss)	92	131	473	355
Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option gain (loss)	$ (75)	$ 6	$ (228)	$ 74

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, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Outstanding Principal Amount	$ 45,505	$ 43,532
Mortgage and other loans receivable, Difference	45,505	43,532
Long-term debt, Fair Value	2,287	2,213
Long-term debt, Outstanding Principal Amount	35,262	34,540
Fair Value Option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, Fair Value	2,287	2,213
Long-term debt, Outstanding Principal Amount	1,652	1,653
Long-term debt, Difference	$ 635	$ 560

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	$ 52	$ 34	$ 127	$ 124
Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	7	0	65	89
Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	45	$ 34	62	$ 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 | 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 | 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	254		254		326
Level 3 | Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	253		253		315
Level 3 | Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	1		1		11
Total Fair Value | Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	254		254		326
Total Fair Value | Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	253		253		315
Total Fair Value | Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Fair Value	$ 1		$ 1		$ 11

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, 2019	Dec. 31, 2018	Sep. 30, 2018
Assets:
Mortgage and other loans receivable	$ 45,075	$ 43,135
Short-term investments	14,113	9,674
Cash	3,361	2,873	$ 2,741
Other assets	13,929	13,568
Liabilities:
Other liabilities	27,297	24,636
Long-term Debt	35,262	34,540
Estimate of Fair Value Measurement [Member]
Assets:
Mortgage and other loans receivable	47,786	43,627
Other invested assets	713	737
Short-term investments	8,536	6,659
Cash	3,361	2,873
Other assets	345	343
Liabilities:
Policyholder contract deposits associated with investment-type contracts	135,613	121,374
Other liabilities	2,787	1,154
Long-term Debt	35,336	31,597
Carrying Value
Assets:
Mortgage and other loans receivable	45,075	43,135
Other invested assets	714	737
Short-term investments	8,536	6,659
Cash	3,361	2,873
Other assets	345	343
Liabilities:
Policyholder contract deposits associated with investment-type contracts	126,011	120,602
Other liabilities	2,787	1,154
Long-term Debt	32,975	32,327
Level 1 | Estimate of Fair Value Measurement [Member]
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	3,361	2,873
Other assets	208	308
Liabilities:
Policyholder contract deposits associated with investment-type contracts	0	0
Other liabilities	0	0
Long-term Debt	0	0
Level 2 | Estimate of Fair Value Measurement [Member]
Assets:
Mortgage and other loans receivable	104	105
Other invested assets	707	731
Short-term investments	8,536	6,659
Cash	0	0
Other assets	137	35
Liabilities:
Policyholder contract deposits associated with investment-type contracts	267	339
Other liabilities	2,787	1,154
Long-term Debt	26,223	22,822
Level 3 | Estimate of Fair Value Measurement [Member]
Assets:
Mortgage and other loans receivable	47,682	43,522
Other invested assets	6	6
Short-term investments	0	0
Cash	0	0
Other assets	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	135,346	121,035
Other liabilities	0	0
Long-term Debt	$ 9,113	$ 8,775

INVESTMENTS (Details - Amortize

INVESTMENTS (Details - Amortized cost or cost and fair value of Available for sale securities) - Bonds available for sale - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 233,345	$ 225,780
Available for sale securities, Gross Unrealized Gains	20,660	8,419
Available for sale securities, Gross Unrealized Losses	(784)	(4,808)
Available-for-sale Securities	253,221	229,391
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	28,000	28,800
AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,282	1,211
U.S. government and government sponsored entities
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	4,727	3,170
Available for sale securities, Gross Unrealized Gains	501	132
Available for sale securities, Gross Unrealized Losses	(1)	(42)
Available-for-sale Securities	5,227	3,260
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
Obligations of states, municipalities and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	14,122	15,421
Available for sale securities, Gross Unrealized Gains	1,640	701
Available for sale securities, Gross Unrealized Losses	(17)	(121)
Available-for-sale Securities	15,745	16,001
Obligations of states, municipalities and political subdivisions | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	0	4
Non-U.S. governments
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	14,456	14,376
Available for sale securities, Gross Unrealized Gains	999	451
Available for sale securities, Gross Unrealized Losses	(79)	(302)
Available-for-sale Securities	15,376	14,525
Non-U.S. governments | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	0	0
Corporate debt
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	138,950	130,436
Available for sale securities, Gross Unrealized Gains	12,956	3,911
Available for sale securities, Gross Unrealized Losses	(534)	(3,647)
Available-for-sale Securities	151,372	130,700
Corporate debt | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	9	4
Mortgage-backed, asset-backed and collateralized
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	61,090	62,377
Available for sale securities, Gross Unrealized Gains	4,564	3,224
Available for sale securities, Gross Unrealized Losses	(153)	(696)
Available-for-sale Securities	65,501	64,905
Mortgage-backed, asset-backed and collateralized | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,273	1,203
Residential mortgage-backed securities (RMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	29,513	31,940
Available for sale securities, Gross Unrealized Gains	3,344	2,754
Available for sale securities, Gross Unrealized Losses	(62)	(317)
Available-for-sale Securities	32,795	34,377
Residential mortgage-backed securities (RMBS) | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,222	1,155
Commercial mortgage-backed securities (CMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	13,577	12,673
Available for sale securities, Gross Unrealized Gains	771	242
Available for sale securities, Gross Unrealized Losses	(12)	(214)
Available-for-sale Securities	14,336	12,701
Commercial mortgage-backed securities (CMBS) | AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	34	31
Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	18,000	17,764
Available for sale securities, Gross Unrealized Gains	449	228
Available for sale securities, Gross Unrealized Losses	(79)	(165)
Available-for-sale Securities	18,370	17,827
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	$ 17

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) - Bonds available for sale $ in Millions	Sep. 30, 2019USD ($)item	Dec. 31, 2018USD ($)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 17,522	$ 70,800
Gross Unrealized Losses, Less than 12 Months	406	2,679
Fair Value, 12 Months or More	7,999	36,110
Gross Unrealized Losses, 12 Months or More	378	2,129
Fair Value, Total	25,521	106,910
Gross Unrealized Losses, Total	$ 784	4,808
Number of securities in an unrealized loss position | item	5,266
Number of individual securities in continuous unrealized loss position for longer than twelve months | item	1,361
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	$ 136	574
Gross Unrealized Losses, Less than 12 Months	1	13
Fair Value, 12 Months or More	43	873
Gross Unrealized Losses, 12 Months or More	0	29
Fair Value, Total	179	1,447
Gross Unrealized Losses, Total	1	42
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	383	1,965
Gross Unrealized Losses, Less than 12 Months	6	51
Fair Value, 12 Months or More	256	1,530
Gross Unrealized Losses, 12 Months or More	11	70
Fair Value, Total	639	3,495
Gross Unrealized Losses, Total	17	121
Non-U.S. governments
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	919	3,851
Gross Unrealized Losses, Less than 12 Months	27	149
Fair Value, 12 Months or More	443	2,422
Gross Unrealized Losses, 12 Months or More	52	153
Fair Value, Total	1,362	6,273
Gross Unrealized Losses, Total	79	302
Corporate debt
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	8,794	47,364
Gross Unrealized Losses, Less than 12 Months	294	2,181
Fair Value, 12 Months or More	3,244	20,056
Gross Unrealized Losses, 12 Months or More	240	1,466
Fair Value, Total	12,038	67,420
Gross Unrealized Losses, Total	534	3,647
Residential mortgage-backed securities (RMBS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	2,671	5,231
Gross Unrealized Losses, Less than 12 Months	23	94
Fair Value, 12 Months or More	1,778	5,641
Gross Unrealized Losses, 12 Months or More	39	223
Fair Value, Total	4,449	10,872
Gross Unrealized Losses, Total	62	317
Commercial mortgage-backed securities (CMBS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	640	2,646
Gross Unrealized Losses, Less than 12 Months	4	47
Fair Value, 12 Months or More	343	4,264
Gross Unrealized Losses, 12 Months or More	8	167
Fair Value, Total	983	6,910
Gross Unrealized Losses, Total	12	214
Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	3,979	9,169
Gross Unrealized Losses, Less than 12 Months	51	144
Fair Value, 12 Months or More	1,892	1,324
Gross Unrealized Losses, 12 Months or More	28	21
Fair Value, Total	5,871	10,493
Gross Unrealized Losses, Total	$ 79	$ 165

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, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 253,221	$ 229,391
Fixed Maturity Securities Available for Sale in a Loss Position
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	1,373	2,322
Due after one year through five years, Amortized Cost	5,878	17,382
Due after five years through ten years, Amortized Cost	3,947	27,724
Due after ten years, Amortized Cost	3,651	35,319
Mortgage-backed, asset-backed and collateralized, Amortized Cost	11,456	28,971
Available for sale securities, Amortized Cost, Total	26,305	111,718
Due in one year or less, Fair Value	1,339	2,294
Due after one year through five years, Fair Value	5,631	16,844
Due after five years through ten years, Fair Value	3,756	26,517
Due after ten years, Fair Value	3,492	32,980
Mortgage-backed, asset-backed and collateralized, Fair Value	11,303	28,275
Fixed Maturity Securities Available for Sale, Fair Value, Total	25,521	106,910
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	10,910	9,539
Due after one year through five years, Amortized Cost	45,243	47,400
Due after five years through ten years, Amortized Cost	43,042	42,363
Due after ten years, Amortized Cost	73,060	64,101
Mortgage-backed, asset-backed and collateralized, Amortized Cost	61,090	62,377
Available for sale securities, Amortized Cost, Total	233,345	225,780
Due in one year or less, Fair Value	11,107	9,674
Due after one year through five years, Fair Value	46,583	47,905
Due after five years through ten years, Fair Value	45,877	42,045
Due after ten years, Fair Value	84,153	64,862
Mortgage-backed, asset-backed and collateralized, Fair Value	65,501	64,905
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 253,221	$ 229,391

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	$ 198	$ 82	$ 464	$ 268
Gross Realized Losses	70	71	280	244
Aggregate fair value of available for sale securities sold	4,500	6,000	17,300	18,100
Net realized capital gains (losses)	128	11	184	24
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	198	82	464	252
Gross Realized Losses	70	71	280	244
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	0	0	0	16
Gross Realized Losses	$ 0	$ 0	$ 0	$ 0

INVESTMENTS (Details - Value of

INVESTMENTS (Details - Value of other securities measured at fair value based on election of the fair value option) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 9,098,000,000	$ 12,668,000,000
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	$ 0	$ 178,000,000
Fixed maturity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 8,327,000,000	$ 11,415,000,000
Other Securities, Percent of Total	91.00%	90.00%
Fixed maturity securities | U.S. government and government sponsored entities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 2,296,000,000	$ 2,665,000,000
Other Securities, Percent of Total	25.00%	21.00%
Fixed maturity securities | Non-U.S. governments
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 0	$ 45,000,000
Other Securities, Percent of Total	0.00%	0.00%
Fixed maturity securities | Corporate debt
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 18,000,000	$ 1,671,000,000
Other Securities, Percent of Total	0.00%	13.00%
Fixed maturity securities | Mortgage-backed, asset-backed and collateralized
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 6,013,000,000	$ 7,034,000,000
Other Securities, Percent of Total	66.00%	56.00%
Fixed maturity securities | Residential mortgage-backed securities (RMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,297,000,000	$ 1,714,000,000
Other Securities, Percent of Total	14.00%	14.00%
Fixed maturity securities | Commercial mortgage-backed securities (CMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 403,000,000	$ 388,000,000
Other Securities, Percent of Total	5.00%	3.00%
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	$ 4,313,000,000	$ 4,932,000,000
Other Securities, Percent of Total	47.00%	39.00%
Equity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 771,000,000	$ 1,253,000,000
Other Securities, Percent of Total	9.00%	10.00%

INVESTMENTS (Details - Carrying

INVESTMENTS (Details - Carrying values of other invested assets) - USD ($) $ in Millions	12 Months Ended	96 Months Ended
	Dec. 31, 2019	Dec. 31, 2027	Sep. 30, 2019	Dec. 31, 2018
Investments [Line Items]
Other invested assets			$ 19,486	$ 19,341
Alternative investments
Investments [Line Items]
Other invested assets			8,532	8,966
Investment real estate
Investments [Line Items]
Other invested assets			9,491	8,935
Net of accumulated depreciation on investment in real estate			710	598
All other investments
Investments [Line Items]
Other invested assets			1,463	1,440
Hedge Funds
Investments [Line Items]
Other invested assets			3,500	4,200
Hedge Fund Fair Value Redemption, Additional Percentage	70.00%	30.00%
Direct private equity
Investments [Line Items]
Other invested assets			4,700	4,300
Affordable Housing Partnerships
Investments [Line Items]
Other invested assets			$ 336	$ 438

INVESTMENTS (Details - Componen

INVESTMENTS (Details - Components of Net investment income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net Investment Income [Line Items]
Total investment income	$ 3,543	$ 3,511	$ 11,413	$ 10,087
Investment expenses	135	115	381	365
Net investment income	3,408	3,396	11,032	9,722
Fixed maturity securities, including short-term investments
Net Investment Income [Line Items]
Total investment income	2,698	2,629	8,052	7,775
Other fixed maturity securities
Net Investment Income [Line Items]
Total investment income	333	60	941	29
Other fixed maturity securities | Reclassification [Member]
Net Investment Income [Line Items]
Total investment income	96
Equity securities
Net Investment Income [Line Items]
Total investment income	(51)	(21)	6	(50)
Interest on mortgage and other loans
Net Investment Income [Line Items]
Total investment income	495	455	1,511	1,352
Alternative investments
Net Investment Income [Line Items]
Total investment income	115	329	879	837
Real estate
Net Investment Income [Line Items]
Total investment income	96	72	227	133
Other investments
Net Investment Income [Line Items]
Total investment income	(143)	$ (13)	$ (203)	$ 11
Other investments | Reclassification [Member]
Net Investment Income [Line Items]
Total investment income	$ (96)

INVESTMENTS (Details - Compon_2

INVESTMENTS (Details - Components of Net realized capital gains (losses)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other-than-temporary impairments:
Change in intent	$ 0	$ (3)	$ (3)	$ (52)
Foreign currency declines	(6)	(1)	(15)	(13)
Issuer-specific credit events	(17)	(30)	(113)	(92)
Adverse projected cash flows	(1)	(1)	(6)	(1)
Provision for loan losses	(25)	(23)	(35)	(73)
Foreign exchange transactions	(203)	(21)	(242)	(155)
Variable annuity embedded derivatives, net of related hedges	311	(185)	10	(2)
All other derivatives and hedge accounting	466	(1)	601	149
Loss on sale of private equity funds	0	(311)	0	(311)
Other	276	54	506	161
Net realized capital gains (losses)	929	(511)	887	(365)
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	128	11	184	8
Equity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	$ 0	$ 0	$ 0	$ 16

INVESTMENTS (Details - Increase

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Increase (decrase) in unrealized appreciation (depreciation) of investments
Net gains and losses recognized securities during the period on equity securities	$ 54	$ 170	$ 621	$ 456
Less: Net gains and losses recognized during the period on equity securities sold during the period	31	46	199	79
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	23	124	422	377
Change in unrealized appreciation (depreciation) of investments	4,377	(951)	16,197	(8,917)
Fixed maturity securities
Increase (decrase) in unrealized appreciation (depreciation) of investments
Change in unrealized appreciation (depreciation) of investments	4,377	(920)	16,265	(8,858)
Equity securities
Increase (decrase) in unrealized appreciation (depreciation) of investments
Net gains and losses recognized securities during the period on equity securities	(51)	(13)	6	(41)
Less: Net gains and losses recognized during the period on equity securities sold during the period	18	28	30	34
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	(69)	(41)	(24)	(75)
Other investments
Increase (decrase) in unrealized appreciation (depreciation) of investments
Change in unrealized appreciation (depreciation) of investments	0	(31)	(68)	(59)
Other invested assets
Increase (decrase) in unrealized appreciation (depreciation) of investments
Net gains and losses recognized securities during the period on equity securities	105	183	615	497
Less: Net gains and losses recognized during the period on equity securities sold during the period	13	18	169	45
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	$ 92	$ 165	$ 446	$ 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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 34	$ 188	$ 0	$ 526
Increases due to:
Credit impairments on new securities subject to impairment losses	10	15	105	32
Additional credit impairments on previously impaired securities	8	16	14	61
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(3)	(12)	(62)	(143)
Accretion on securities previously impaired due to credit	(7)	(164)	(15)	(433)
Balance, end of year	$ 42	$ 43	$ 42	$ 43

INVESTMENTS (Details - Purchase

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 233,345		$ 233,345		$ 225,780
Purchased Credit Impaired (PCI) Securities
Schedule of Available-for-sale Securities [Line Items]
Contractually required payments (principal and interest)	35,522		35,522
Cash flows expected to be collected	29,095		29,095
Recorded investment in acquired securities	19,648		19,648
Outstanding principal balance	11,016		11,016		12,495
Amortized cost	7,434		7,434		8,646
Fair value	9,171		9,171		$ 10,280
Available for sale securities | Purchased Credit Impaired (PCI) Securities
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of period	6,402	$ 7,461	7,210	$ 7,501
Newly purchased PCI securities	4	5	17	32
Accretion	(172)	(176)	(495)	(553)
Effect of changes in interest rate indices	(278)	15	(678)	189
Net reclassification from (to) non-accretable difference, including effects of prepayments	(162)	93	(260)	229
Balance, end of period	$ 5,794	$ 7,398	$ 5,794	$ 7,398

INVESTMENTS (Details - Pledged

INVESTMENTS (Details - Pledged Investments) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Investments [Line Items]
Fair value of securities collateral pledged	$ 2,075	$ 426
Fair value of amount sold or repledged	35	106
Securities Lending Agreements, Fair Value of Collateral	2,524	884
Short-term investments held in escrow	273	273
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	8,400	7,900
Overnight and continuous
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	0
Up to 30 Days
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	1,062	401
31 to 90 Days
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	897	483
91 to 364 Days
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	565	0
365 Days or Greater
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	0
FHLBs
Investments [Line Items]
Fair value of fixed maturities securities available for sale	4,600	4,200
Amount owned by subsidiaries	194	202
Residential loans pledged as collateral	1,900	2,100
Secured financing
Investments [Line Items]
Amounts Borrowed Under Repurchase and Securities Lending Agreements	2,800	1,200
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	257	288
Amounts Loaned under Reverse Repurchase Agreements	2,100	426
Secured financing | Fixed Maturities [Member]
Investments [Line Items]
Fair value of fixed maturities securities available for sale	2,781	1,050
Fair value of other bond securities	0	122
Secured financing | Overnight and continuous
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	92	104
Secured financing | Up to 30 Days
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	165	131
Secured financing | 31 to 90 Days
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	53
Secured financing | 91 to 364 Days
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | 365 Days or Greater
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | Obligations of states, municipalities and political subdivisions
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	390	180
Secured financing | Bonds available for sale | Non-U.S. governments
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	125	60
Securities Lending Agreements, Fair Value of Collateral	0	29
Secured financing | Bonds available for sale | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	132	106
Securities Lending Agreements, Fair Value of Collateral	2,134	675
Secured financing | Bonds available for sale | Overnight and continuous | Obligations of states, municipalities and political subdivisions
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | Overnight and continuous | Non-U.S. governments
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	64	25
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | Overnight and continuous | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	28	51
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | Up to 30 Days | Obligations of states, municipalities and political subdivisions
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	50
Secured financing | Bonds available for sale | Up to 30 Days | Non-U.S. governments
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	61	35
Securities Lending Agreements, Fair Value of Collateral	0	21
Secured financing | Bonds available for sale | Up to 30 Days | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	104	55
Securities Lending Agreements, Fair Value of Collateral	1,062	330
Secured financing | Bonds available for sale | 31 to 90 Days | Obligations of states, municipalities and political subdivisions
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	262	130
Secured financing | Bonds available for sale | 31 to 90 Days | Non-U.S. governments
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	8
Secured financing | Bonds available for sale | 31 to 90 Days | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	635	345
Secured financing | Bonds available for sale | 91 to 364 Days | Obligations of states, municipalities and political subdivisions
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	128	0
Secured financing | Bonds available for sale | 91 to 364 Days | Non-U.S. governments
Investments [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 | 91 to 364 Days | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	437	0
Secured financing | Bonds available for sale | 365 Days or Greater | Obligations of states, municipalities and political subdivisions
Investments [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing | Bonds available for sale | 365 Days or Greater | Non-U.S. governments
Investments [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
Investments [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
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	3
Secured financing | Other bond securities | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	108
Secured financing | Other bond securities | U.S. government and government sponsored entities
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	11
Secured financing | Other bond securities | Overnight and continuous | Non-U.S. governments
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | Other bond securities | Overnight and continuous | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	17
Secured financing | Other bond securities | Overnight and continuous | U.S. government and government sponsored entities
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	11
Secured financing | Other bond securities | Up to 30 Days | Non-U.S. governments
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	3
Secured financing | Other bond securities | Up to 30 Days | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	38
Secured financing | Other bond securities | Up to 30 Days | U.S. government and government sponsored entities
Investments [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
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | Other bond securities | 31 to 90 Days | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	53
Secured financing | Other bond securities | 31 to 90 Days | U.S. government and government sponsored entities
Investments [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
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | Other bond securities | 91 to 364 Days | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | Other bond securities | 91 to 364 Days | U.S. government and government sponsored entities
Investments [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
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | Other bond securities | 365 Days or Greater | Corporate debt
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing | Other bond securities | 365 Days or Greater | U.S. government and government sponsored entities
Investments [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
GIAs
Investments [Line Items]
Fair value of other bond securities	$ 1,600	$ 1,600

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, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 45,505	$ 43,532
Allowance for losses	(430)	(397)	$ (379)	$ (322)
Mortgage and other loans receivable, net	45,075	43,135
Commercial mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	34,954	32,882
Allowance for losses	$ (335)	$ (318)	$ (296)	$ (247)
Commercial mortgages | California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	11.00%	11.00%
Commercial mortgages | New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	22.00%	22.00%
Residential Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 6,525	$ 6,532
Life insurance policy loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	2,096	2,147
Commercial loans, other loans and notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 1,930	$ 1,971

LENDING ACTIVITIES (Details -_2

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgage loans) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)loan	Dec. 31, 2018USD ($)loan	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Commercial Mortgage Recorded Investment [Line Items]
Mortgage and other loans receivable, net	$ 45,075	$ 43,135
Allowance for credit losses	430	397	$ 379	$ 322
Total mortgage and other loans receivable	$ 45,505	$ 43,532
Debt Coverage Ratio	1.9	1.9
Average Loan to Value Ratio	57.00%	58.00%
Apartments
Commercial Mortgage Recorded Investment [Line Items]
In good standing	$ 13,263	$ 11,190
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	13,263	11,190
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	93	122
Allowance for credit losses	93	122
Offices
Commercial Mortgage Recorded Investment [Line Items]
In good standing	9,903	9,774
Restructured	90	96
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	9,993	9,870
Allowance for credit losses, Specific	2	2
Allowance for credit losses, General	141	104
Allowance for credit losses	143	106
Retail
Commercial Mortgage Recorded Investment [Line Items]
In good standing	5,479	5,645
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	5,479	5,645
Allowance for credit losses, Specific	1	0
Allowance for credit losses, General	44	51
Allowance for credit losses	45	51
Industrial
Commercial Mortgage Recorded Investment [Line Items]
In good standing	3,348	3,074
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	3,348	3,074
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	28	13
Allowance for credit losses	28	13
Hotel
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,337	2,507
Restructured	15	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	2,352	2,523
Allowance for credit losses, Specific	6	1
Allowance for credit losses, General	15	19
Allowance for credit losses	21	20
Others
Commercial Mortgage Recorded Investment [Line Items]
In good standing	519	580
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	519	580
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	5	6
Allowance for credit losses	$ 5	$ 6
Commercial mortgages
Commercial Mortgage Recorded Investment [Line Items]
Number of loans in good standing | loan	747	762
Number of loans restructured | loan	2	2
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	749	764
In good standing	$ 34,849	$ 32,770
Restructured	105	112
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	34,954	32,882
Allowance for credit losses, Specific	9	3
Allowance for credit losses, General	326	315
Allowance for credit losses	$ 335	$ 318
Percentage of loans that are current as to payments of principal and interest	100.00%	100.00%
Percentage restructured	0.00%	0.00%
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, Genaral	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	$ 20,822	$ 19,204
Commercial mortgages | Less than 65% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	2,771	2,543
Commercial mortgages | Less than 65% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	173	250
Commercial mortgages | Less than 65% | Total
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	23,766	21,997
Commercial mortgages | 65% to 75% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	9,744	9,060
Commercial mortgages | 65% to 75% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	677	300
Commercial mortgages | 65% to 75% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	93	203
Commercial mortgages | 65% to 75% | Total
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	10,514	9,563
Commercial mortgages | 76% to 80% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	173	476
Commercial mortgages | 76% to 80% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	19	20
Commercial mortgages | 76% to 80% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	13	15
Commercial mortgages | 76% to 80% | Total
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	205	511
Commercial mortgages | Greater than 80% | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	182	596
Commercial mortgages | Greater than 80% | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	143	103
Commercial mortgages | Greater than 80% | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	144	112
Commercial mortgages | Greater than 80% | Total
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	469	811
Commercial mortgages | Total | Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	30,921	29,336
Commercial mortgages | Total | 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	3,610	2,966
Commercial mortgages | Total | Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	423	580
Commercial mortgages | Total | Total
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	$ 34,954	$ 32,882

LENDING ACTIVITIES (Details - R

LENDING ACTIVITIES (Details - Rollforward of the changes in the allowance for losses on Mortgage and other loans receivable) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 397,000,000	$ 322,000,000
Loans charged off	(2,000,000)	(17,000,000)
Recoveries of loans previously charged off	0	0
Net charge-offs	(2,000,000)	(17,000,000)
Provision for loan losses	35,000,000	74,000,000
Allowance, end of period	430,000,000	379,000,000
Loans modified in a troubled debt restructuring	0	15,000,000
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	318,000,000	247,000,000
Loans charged off	(2,000,000)	(17,000,000)
Recoveries of loans previously charged off	0	0
Net charge-offs	(2,000,000)	(17,000,000)
Provision for loan losses	19,000,000	66,000,000
Allowance, end of period	335,000,000	296,000,000
Allowance related to individually assessed credit losses	10,000,000	3,000,000
Commercial mortgage loans	151,000,000	25,000,000
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	79,000,000	75,000,000
Loans charged off	0	0
Recoveries of loans previously charged off	0	0
Net charge-offs	0	0
Provision for loan losses	16,000,000	8,000,000
Allowance, end of period	$ 95,000,000	$ 83,000,000

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Assets:
Bonds available for sale	$ 253,221	$ 229,391
Other bond securities	8,327	11,415
Mortgage and other loans receivable	45,075	43,135
Other invested assets	19,486	19,341
Liabilities:
Long-term Debt	35,262	34,540
Real Estate and Investment Entities
Liabilities:
Off-balance sheet exposure	2,700	1,400
Consolidated VIE
Assets:
Bonds available for sale	7,428	7,662
Other bond securities	3,641	3,925
Mortgage and other loans receivable	3,520	3,693
Other invested assets	9,325	8,378
Other assets	2,925	2,625
Total assets	26,839	26,283
Liabilities:
Long-term Debt	9,039	7,569
Other liabilities	763	575
Total liabilities	9,802	8,144
Consolidated VIE | Real Estate and Investment Entities
Assets:
Bonds available for sale	211	0
Other bond securities	0	0
Mortgage and other loans receivable	0	0
Other invested assets	5,774	5,212
Other assets	444	580
Total assets	6,429	5,792
Liabilities:
Long-term Debt	3,194	2,577
Other liabilities	400	227
Total liabilities	3,594	2,804
Consolidated VIE | Securitization Vehicles
Assets:
Bonds available for sale	7,217	7,662
Other bond securities	3,641	3,923
Mortgage and other loans receivable	3,520	3,693
Other invested assets	0	0
Other assets	1,934	1,581
Total assets	16,312	16,859
Liabilities:
Long-term Debt	3,720	3,154
Other liabilities	156	165
Total liabilities	3,876	3,319
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total assets of consolidated securitization vehicles owed to Parent or its subsidiaries	15,500	16,000
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	3,518	3,142
Other assets	498	394
Total assets	4,016	3,536
Liabilities:
Long-term Debt	2,121	1,834
Other liabilities	184	159
Total liabilities	2,305	1,993
Consolidated VIE | Other
Assets:
Bonds available for sale	0	0
Other bond securities	0	2
Mortgage and other loans receivable	0	0
Other invested assets	33	24
Other assets	49	70
Total assets	82	96
Liabilities:
Long-term Debt	4	4
Other liabilities	23	24
Total liabilities	27	28
Unconsolidated VIE
Assets:
Other invested assets	7,000	7,400
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	286,809	316,527
Maximum Exposure to Loss, On-Balance Sheet	7,325	7,711
Maximum Exposure to Loss, Off-Balance Sheet	3,553	3,723
Total maximum exposure to loss	10,878	11,434
Unconsolidated VIE | Real Estate and Investment Entities
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	278,064	309,598
Maximum Exposure to Loss, On-Balance Sheet	6,537	6,820
Maximum Exposure to Loss, Off-Balance Sheet	3,553	2,501
Total maximum exposure to loss	10,090	9,321
Unconsolidated VIE | Affordable Housing Partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	3,358	4,116
Maximum Exposure to Loss, On-Balance Sheet	462	607
Maximum Exposure to Loss, Off-Balance Sheet	0	0
Total maximum exposure to loss	462	607
Unconsolidated VIE | Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	5,387	2,813
Maximum Exposure to Loss, On-Balance Sheet	326	284
Maximum Exposure to Loss, Off-Balance Sheet	0	1,222
Total maximum exposure to loss	$ 326	$ 1,506

DERIVATIVES AND HEDGE ACCOUNT_3

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of our derivative instruments) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	$ 140,116,000,000	$ 117,207,000,000
Gross Derivative Assets, Fair Value	6,857,000,000	4,468,000,000
Gross Derivative Liabilities, Notional Amount	50,760,000,000	40,028,000,000
Gross Derivative Liabilities, Fair Value	4,013,000,000	3,138,000,000
Derivative assets, Counterparty netting	(2,795,000,000)	(1,713,000,000)
Derivative assets, Cash collateral	(2,937,000,000)	(1,840,000,000)
Total derivative assets on consolidated balance sheet	1,125,000,000	915,000,000
Derivative liabilities, Counterparty netting	(2,795,000,000)	(1,713,000,000)
Derivative liabilities, Cash collateral	(133,000,000)	(187,000,000)
Total derivative liabilities on consolidated balance sheet	1,085,000,000	1,238,000,000
Bifurcated embedded derivatives
Derivative [Line Items]
Bifurcated embedded derivatives assets, fair value	0	0
Bifurcated embedded derivative liabilities, fair value	7,200,000,000	4,100,000,000
Derivatives designated as hedging instruments | Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	624,000,000	10,000,000
Gross Derivative Assets, Fair Value	5,000,000	0
Gross Derivative Liabilities, Notional Amount	410,000,000	866,000,000
Gross Derivative Liabilities, Fair Value	8,000,000	19,000,000
Derivatives designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	6,614,000,000	6,357,000,000
Gross Derivative Assets, Fair Value	558,000,000	363,000,000
Gross Derivative Liabilities, Notional Amount	2,212,000,000	2,536,000,000
Gross Derivative Liabilities, Fair Value	78,000,000	147,000,000
Derivatives not designated as hedging instruments | Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	60,452,000,000	42,821,000,000
Gross Derivative Assets, Fair Value	4,377,000,000	2,890,000,000
Gross Derivative Liabilities, Notional Amount	32,595,000,000	27,329,000,000
Gross Derivative Liabilities, Fair Value	2,848,000,000	2,004,000,000
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	11,360,000,000	11,134,000,000
Gross Derivative Assets, Fair Value	1,104,000,000	801,000,000
Gross Derivative Liabilities, Notional Amount	6,469,000,000	5,434,000,000
Gross Derivative Liabilities, Fair Value	862,000,000	711,000,000
Derivatives not designated as hedging instruments | Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	20,218,000,000	17,807,000,000
Gross Derivative Assets, Fair Value	797,000,000	398,000,000
Gross Derivative Liabilities, Notional Amount	8,073,000,000	2,399,000,000
Gross Derivative Liabilities, Fair Value	88,000,000	15,000,000
Derivatives not designated as hedging instruments | Credit contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	44,000,000	8,000,000
Gross Derivative Assets, Fair Value	1,000,000	1,000,000
Gross Derivative Liabilities, Notional Amount	943,000,000	1,406,000,000
Gross Derivative Liabilities, Fair Value	121,000,000	236,000,000
Derivatives not designated as hedging instruments | Credit contracts | CDS
Derivative [Line Items]
Gross Derivative Liabilities, Notional Amount	160,000,000	592,000,000
Gross Derivative Liabilities, Fair Value	91,000,000	224,000,000
Derivatives not designated as hedging instruments | Other contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	40,804,000,000	39,070,000,000
Gross Derivative Assets, Fair Value	15,000,000	15,000,000
Gross Derivative Liabilities, Notional Amount	58,000,000	58,000,000
Gross Derivative Liabilities, Fair Value	$ 8,000,000	$ 6,000,000

DERIVATIVES AND HEDGE ACCOUNT_4

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) - USD ($) $ in Billions	Sep. 30, 2019	Dec. 31, 2018
Collateral
Collateral posted to third parties for derivative transactions	$ 1.9	$ 1.7
Collateral obtained from third parties for derivative transactions	$ 3.3	$ 2.1

DERIVATIVES AND HEDGE ACCOUNT_5

DERIVATIVES AND HEDGE ACCOUNTING (Details - Hedge Accounting) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	$ 89	$ 28	$ 146	$ 27
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	0	(1)	0	(9)
Gain (loss) recognized in earnings on hedged items	0	1	0	10
Gain (loss) recognized in earnings for amounts excluded from effectiveness testing	0	0	0	0
Net Impact	0	0	0	1
Derivatives designated as hedging instruments | Interest rate contracts | Fair value hedging | Interest credited to policyholder account balances
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	4	0	18	0
Gain (loss) recognized in earnings on hedged items	(4)	0	(18)	0
Gain (loss) recognized in earnings for amounts excluded from effectiveness testing	0	0	0	0
Net Impact	0	0	0	0
Derivatives designated as hedging instruments | Interest rate contracts | Fair value hedging | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	(1)	0
Gain (loss) recognized in earnings on hedged items	0	0	1	0
Gain (loss) recognized in earnings for amounts excluded from effectiveness testing	0	0	0	0
Net Impact	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	228	(16)	278	175
Gain (loss) recognized in earnings on hedged items	(228)	16	(278)	(175)
Gain (loss) recognized in earnings for amounts excluded from effectiveness testing	41	5	84	9
Net Impact	41	5	84	9
Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	800	(173)	620	251
Derivatives not designated as hedging instruments | Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	780	(223)	611	133
Derivatives not designated as hedging instruments | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(3)	0	(58)	(3)
Derivatives not designated as hedging instruments | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	35	0	76
Derivatives not designated as hedging instruments | Policy fees
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	16	17	51	51
Derivatives not designated as hedging instruments | Policyholder benefits and claims incurred
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	7	(2)	16	(6)
Derivatives not designated as hedging instruments | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	1,078	(270)	2,052	(892)
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	342	43	545	295
Derivatives not designated as hedging instruments | Equity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	96	(199)	(23)	(386)
Derivatives not designated as hedging instruments | Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	26	6	35	18
Derivatives not designated as hedging instruments | Other contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	14	18	48	52
Derivatives not designated as hedging instruments | Embedded derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	$ (756)	$ 229	$ (2,037)	$ 1,164

DERIVATIVES AND HEDGE ACCOUNT_6

DERIVATIVES AND HEDGE ACCOUNTING (Details - Additional Information) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Credit Derivatives [Line Items]
Collateral posted	$ 1,900	$ 1,700
Fair value of hybrid securities	3,700	3,900
Par value of hybrid securities	8,100	8,500
Credit Risk Related Contingent Features [Member]
Credit Derivatives [Line Items]
Collateral posted	408	453
Aggregate fair value of net liability position	391	$ 423
Additional collateral postings and termination payments	$ 65

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Jan. 20, 2017
Supplementary Insurance Information, by Segment [Line Items]
Collateral Held For Deductible Recoverable Amounts	$ 9,000		$ 9,000		$ 9,200
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense:
Liability for unpaid loss and loss adjustment expenses, beginning of year	81,057	$ 76,713	83,639	$ 78,393
Reinsurance recoverable, balance at the beginning of the year	(31,333)	(27,406)	(31,690)	(26,708)
Net Liability for unpaid loss and loss adjustment expenses, beginning of year	49,724	49,307	51,949	51,685
Losses and loss adjustment expenses incurred
Current year	5,150	6,670	14,750	15,800
Prior years, excluding discount and amortization of deferred gain	(74)	949	(221)	884
Prior years, discount charge (benefit)	276	3	1,017	(174)
Prior years, amortization of deferred gain on retroactive reinsurance	13	(175)	(129)	(283)
Total losses and loss adjustment expenses incurred	5,365	7,447	15,417	16,227
Losses and loss adjustment expenses paid
Current year	(1,702)	(1,791)	(3,194)	(3,289)
Prior years	(4,652)	(4,526)	(15,334)	(14,312)
Total losses and loss adjustment expenses paid	(6,354)	(6,317)	(18,528)	(17,601)
Other changes
Foreign exchange effect	(172)	(236)	(165)	(393)
Acquisitions	0	3,020	0	3,020
Retroactive reinsurance adjustment (net of discount)	96	(464)	(14)	(181)
Total other changes	(76)	2,320	(179)	2,446
Net liability for unpaid losses and loss adjustment expenses, balance at end of year	48,659	52,757	48,659	52,757
Reinsurance recoverable, balance at the end of the year	31,224	29,202	31,224	29,202
Total, balance at the end of the year	79,883	81,959	79,883	81,959
Change in discount on loss reserves ceded under retroactive reinsurance	(43)	46	(475)	154
U.S. Commercial long-tail exposures | NICO | Accident Years 2015 and Prior
Other changes
Discount on retroactive reinsurance	$ 6	$ 9	$ 21	$ 22
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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Insurance Liabilities Disclosure [Line Items]
Collateral Held For Deductible Recoverable Amounts	$ 9,000		$ 9,000			$ 9,200
Liability for Claims and Claims Adjustment Expense	79,883	$ 81,959	79,883	$ 81,959	$ 81,057	83,639	$ 76,713	$ 78,393
Net liability for unpaid losses and loss adjustment expenses as presented in the disaggregated tables below (Last 10 Years)	48,659	52,757	48,659	52,757	$ 49,724	51,949	$ 49,307	$ 51,685
Contractual deductible recoverable amount	12,400		12,400			12,300
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount	1,590		$ 1,590			2,035
Tabular Discount Rate			3.50%
Workers Compensation Tabular Discount Amount	505		$ 505			603
Workers Compensation Non Tabular Discount Amount	1,100		1,100			1,400
(Increase) Decrease in Loss Reserve Discount	(235)	86	$ (920)	305
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 Insurance Run-Off Lines
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount	698		$ 698			$ 973
(Increase) Decrease in Loss Reserve Discount	$ (114)	$ (9)	$ (275)	$ 37

INSURANCE LIABILITIES (Detail_3

INSURANCE LIABILITIES (Details - Discounting of Reserves) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Discounting of Reserves [Line Items]
Tabular Discount Rate			3.50%
Workers Compensation Tabular Discount Amount	$ 505		$ 505		$ 603
Workers Compensation Non Tabular Discount Amount	1,100		1,100		1,400
U.S. Workers' compensation	2,836		2,836		3,755
Retroactive Reinsurance	(1,246)		(1,246)		(1,720)
Total reserve discount	1,590		1,590		2,035
Current accident year	41	$ 89	97	$ 131
Accretion and other adjustments to prior year discount	(82)	(19)	(349)	(137)
Effect of interest rate changes	(194)	16	(668)	311
Net reserve discount benefit (charge)	(235)	86	(920)	305
Change in discount on loss reserves ceded under retroactive reinsurance	43	(46)	475	(154)
Net change in total reserve discount	(192)	40	(445)	151
Prior years, discount charge (benefit)	276	3	1,017	(174)
North America Commerical Insurance
Discounting of Reserves [Line Items]
U.S. Workers' compensation	2,138		2,138		2,782
Retroactive Reinsurance	(1,246)		(1,246)		(1,720)
Total reserve discount	892		892		1,062
Current accident year	41	89	97	131
Accretion and other adjustments to prior year discount	(26)	(7)	(269)	(95)
Effect of interest rate changes	(136)	13	(473)	232
Net reserve discount benefit (charge)	(121)	95	(645)	268
Change in discount on loss reserves ceded under retroactive reinsurance	43	(46)	475	(154)
Net change in total reserve discount	(78)	49	(170)	114
Legacy General Insurance Run-Off Lines
Discounting of Reserves [Line Items]
U.S. Workers' compensation	698		698		973
Retroactive Reinsurance	0		0		0
Total reserve discount	698		698		973
Current accident year	0	0	0	0
Accretion and other adjustments to prior year discount	(56)	(12)	(80)	(42)
Effect of interest rate changes	(58)	3	(195)	79
Net reserve discount benefit (charge)	(114)	(9)	(275)	37
Change in discount on loss reserves ceded under retroactive reinsurance	0	0	0	0
Net change in total reserve discount	(114)	(9)	(275)	37
United Kingdom
Discounting of Reserves [Line Items]
Net reserve discount benefit (charge)			161		$ 163
Net change in total reserve discount	$ (27)	$ 12	$ (1)	$ 10

CONTINGENCIES, COMMITMENTS AN_2

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) $ in Billions	Sep. 30, 2019USD ($)
Other Commitments
Other Commitments	$ 7.8

CONTINGENCIES, COMMITMENTS AN_3

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) $ in Millions	Sep. 30, 2019USD ($)
Guarantor Obligations [Line Items]
Amount outstanding under standby letters of credit at end of period	$ 81

EQUITY (Details - Preferred Sto

EQUITY (Details - Preferred Stock) - USD ($) $ / shares in Units, $ in Millions

Sep. 30, 2019

Sep. 16, 2019

Jun. 28, 2019

Jun. 17, 2019

Mar. 29, 2019

Mar. 14, 2019

Sep. 28, 2018

Jun. 28, 2018

Mar. 29, 2018

Sep. 30, 2019

Sep. 30, 2018

Dec. 31, 2018

Class of Stock [Line Items]

Issuances (in shares)

3,339,817

Preferred stock, par value (in dollars per share)

$ 5

$ 5

$ 0

Preferred stock liquidation preference

$ 500

$ 500

$ 0

Issuance of preferred stock

$ 485

$ 0

Date dividends declared

Aug. 7, 2019

May 6, 2019

Feb. 13, 2019

Aug. 2, 2018

May 2, 2018

Feb. 8, 2018

Date dividends paid

Sep. 30, 2019

Jun. 28, 2019

Mar. 29, 2019

Sep. 28, 2018

Jun. 28, 2018

Mar. 29, 2018

Date of record

Sep. 17, 2019

Jun. 14, 2019

Mar. 15, 2019

Sep. 17, 2018

Jun. 14, 2018

Mar. 15, 2018

Series A Preferred Stock

Class of Stock [Line Items]

Issuances (in shares)

20,000

Preferred stock, dividend rate (as a percent)

5.85%

5.85%

Preferred stock, par value (in dollars per share)

$ 5

Preferred stock liquidation preference

$ 25,000

Issuance of preferred stock

$ 485

Date dividends declared

Aug. 7, 2019

May 21, 2019

Preferred Stock Dividends Per Share Cash Paid

$ 365.625

$ 369.6875

Date dividends paid

Sep. 16, 2019

Jun. 17, 2019

Date of record

Aug. 30, 2019

May 31, 2019

Series A Preferred Stock | Rating Agency Event [Member]

Class of Stock [Line Items]

Preferred stock redemption terms

90 days

Preferred stock redemption price per share

$ 25,500

Series A Preferred Stock | Regulatory Capital Event [Member]

Class of Stock [Line Items]

Preferred stock redemption terms

90 days

Preferred stock redemption price per share

$ 25,000

Depositary Shares

Class of Stock [Line Items]

Issuances (in shares)

20,000,000

Preferred stock liquidation preference

$ 25

Preferred Stock Dividends Per Share Cash Paid

$ 0.365625

$ 0.3696875

Depositary Shares | Rating Agency Event [Member]

Class of Stock [Line Items]

Preferred stock redemption price per share

25.50

Depositary Shares | Regulatory Capital Event [Member]

Class of Stock [Line Items]

Preferred stock redemption price per share

$ 25

EQUITY (Details - Shares Outsta

EQUITY (Details - Shares Outstanding) - USD ($) $ / shares in Units, $ in Millions	Sep. 30, 2019	Jun. 28, 2019	Mar. 29, 2019	Sep. 28, 2018	Jun. 28, 2018	Mar. 29, 2018	Sep. 30, 2019	Sep. 30, 2018	Feb. 13, 2019
The following table presents a roll forward of outstanding shares:
Shares, beginning of year							(1,040,062,063)
Shares, beginning of year							1,906,671,492
Shares, beginning of year							866,609,429
Issuances (in shares)							3,339,817
Shares repurchased							0	(18,000,000)
Shares, end of period	(1,036,722,246)						(1,036,722,246)
Shares, end of period	1,906,671,492						1,906,671,492
Shares, end of period	869,949,246						869,949,246
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, 2019	Jun. 14, 2019	Mar. 15, 2019	Sep. 17, 2018	Jun. 14, 2018	Mar. 15, 2018
Date Dividends Declared	Aug. 7, 2019	May 6, 2019	Feb. 13, 2019	Aug. 2, 2018	May 2, 2018	Feb. 8, 2018
Date Dividends To Be Paid	Sep. 30, 2019	Jun. 28, 2019	Mar. 29, 2019	Sep. 28, 2018	Jun. 28, 2018	Mar. 29, 2018
Authorized amount of common Stock share repurchase									$ 1,500
Aggregate remaining authorization amount of common Stock share repurchase	$ 2,000						$ 2,000
Payments for Repurchase of Common Stock							0	$ 994
Amount paid to purchase warrants							$ 0	$ 6
Warrants repurchased							0	366,253
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						1,906,671,492
Treasury Stock
The following table presents a roll forward of outstanding shares:
Shares, beginning of year							(1,040,062,063)
Issuances (in shares)							3,339,817
Shares repurchased							0
Shares, end of period	(1,036,722,246)						(1,036,722,246)

EQUITY (Details - Rollforward o

EQUITY (Details - Rollforward of Accumulated other comprehensive income) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period, net of tax	$ 4,991,000,000	$ 230,000,000	$ (1,413,000,000)	$ 5,465,000,000
Cumulative effect of change in accounting principles	625,000,000		625,000,000		$ 0	$ (8,000,000)
Change in unrealized appreciation (depreciation) of investments	4,377,000,000	(951,000,000)	16,197,000,000	(8,917,000,000)
Change in deferred acquisition costs adjustment and other	(511,000,000)	11,000,000	(2,249,000,000)	1,030,000,000
Change in future policy benefits	(3,042,000,000)	340,000,000	(5,291,000,000)	1,464,000,000
Changes in foreign currency translation adjustments	(24,000,000)	(131,000,000)	31,000,000	(154,000,000)
Change in net actuarial gain (loss)	13,000,000	16,000,000	29,000,000	54,000,000
Change in prior service cost (credit)	(1,000,000)	0	(2,000,000)	(2,000,000)
Deferred tax asset (liability)	(185,000,000)	(51,000,000)	(1,666,000,000)	1,099,000,000
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	1,000,000	0	(1,000,000)	1,000,000
Other comprehensive income (loss)	628,000,000	(766,000,000)	7,048,000,000	(5,425,000,000)
Noncontrolling interests	4,000,000	0	20,000,000	0
Balance, end of period, net of tax	5,615,000,000	(536,000,000)	5,615,000,000	(536,000,000)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative effect of change in accounting principles					$ 0	(576,000,000)
Other comprehensive income (loss)	624,000,000	(766,000,000)	7,028,000,000	(5,425,000,000)
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Other-Than-Temporary Credit Impairments Were Taken
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period, net of tax	720,000,000	(234,000,000)	(38,000,000)	793,000,000
Cumulative effect of change in accounting principles						169,000,000
Change in unrealized appreciation (depreciation) of investments	(9,000,000)	350,000,000	935,000,000	(1,258,000,000)
Change in deferred acquisition costs adjustment and other	11,000,000	(205,000,000)	(3,000,000)	(91,000,000)
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
Deferred tax asset (liability)	(4,000,000)	(38,000,000)	(176,000,000)	260,000,000
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0	0	0	0
Other comprehensive income (loss)	(2,000,000)	107,000,000	756,000,000	(1,089,000,000)
Noncontrolling interests	0	0	0	0
Balance, end of period, net of tax	718,000,000	(127,000,000)	718,000,000	(127,000,000)
Unrealized Appreciation (Depreciation) of All Other Investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period, net of tax	8,034,000,000	3,944,000,000	2,426,000,000	7,693,000,000
Cumulative effect of change in accounting principles						(285,000,000)
Change in unrealized appreciation (depreciation) of investments	4,386,000,000	(1,301,000,000)	15,262,000,000	(7,659,000,000)
Change in deferred acquisition costs adjustment and other	(522,000,000)	216,000,000	(2,246,000,000)	1,121,000,000
Change in future policy benefits	(3,042,000,000)	340,000,000	(5,291,000,000)	1,464,000,000
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
Deferred tax asset (liability)	(166,000,000)	(13,000,000)	(1,447,000,000)	852,000,000
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0	0	0	0
Other comprehensive income (loss)	656,000,000	(758,000,000)	6,278,000,000	(4,222,000,000)
Noncontrolling interests	5,000,000	0	19,000,000	0
Balance, end of period, net of tax	8,685,000,000	3,186,000,000	8,685,000,000	3,186,000,000
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period, net of tax	(2,692,000,000)	(2,426,000,000)	(2,725,000,000)	(2,090,000,000)
Cumulative effect of change in accounting principles						(284,000,000)
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	(24,000,000)	(131,000,000)	31,000,000	(154,000,000)
Change in net actuarial gain (loss)	0	0	0	0
Change in prior service cost (credit)	0	0	0	0
Deferred tax asset (liability)	(10,000,000)	2,000,000	(30,000,000)	(27,000,000)
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0	0	0	0
Other comprehensive income (loss)	(34,000,000)	(129,000,000)	1,000,000	(181,000,000)
Noncontrolling interests	(1,000,000)	0	1,000,000	0
Balance, end of period, net of tax	(2,725,000,000)	(2,555,000,000)	(2,725,000,000)	(2,555,000,000)
Retirement Plan Liabilities Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period, net of tax	(1,079,000,000)	(1,062,000,000)	(1,086,000,000)	(931,000,000)
Cumulative effect of change in accounting principles						(183,000,000)
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)	13,000,000	16,000,000	29,000,000	54,000,000
Change in prior service cost (credit)	(1,000,000)	0	(2,000,000)	(2,000,000)
Deferred tax asset (liability)	(5,000,000)	(2,000,000)	(13,000,000)	14,000,000
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	0	0	0	0
Other comprehensive income (loss)	7,000,000	14,000,000	14,000,000	66,000,000
Noncontrolling interests	0	0	0	0
Balance, end of period, net of tax	(1,072,000,000)	(1,048,000,000)	(1,072,000,000)	(1,048,000,000)
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Own Credit Risk
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period, net of tax	8,000,000	8,000,000	10,000,000	0
Cumulative effect of change in accounting principles						$ 7,000,000
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)	0	0	0	0
Change in prior service cost (credit)	0	0	0	0
Deferred tax asset (liability)	0	0	0	0
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	1,000,000	0	(1,000,000)	1,000,000
Other comprehensive income (loss)	1,000,000	0	(1,000,000)	1,000,000
Noncontrolling interests	0	0	0	0
Balance, end of period, net of tax	$ 9,000,000	$ 8,000,000	$ 9,000,000	$ 8,000,000

EQUITY (Details - Other compreh

EQUITY (Details - Other comprehensive income reclassification adjustments) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	$ 932,000,000	$ (683,000,000)	$ 8,874,000,000	$ (6,526,000,000)
Less: Reclassification adjustments included in net income	119,000,000	32,000,000	160,000,000	(2,000,000)
Total other comprehensive income (loss), before income tax expense (benefit)	813,000,000	(715,000,000)	8,714,000,000	(6,524,000,000)
Less: Income tax expense (benefit)	185,000,000	51,000,000	1,666,000,000	(1,099,000,000)
Other comprehensive income (loss)	628,000,000	(766,000,000)	7,048,000,000	(5,425,000,000)
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	3,000,000	146,000,000	929,000,000	(1,344,000,000)
Less: Reclassification adjustments included in net income	1,000,000	1,000,000	(3,000,000)	5,000,000
Total other comprehensive income (loss), before income tax expense (benefit)	2,000,000	145,000,000	932,000,000	(1,349,000,000)
Less: Income tax expense (benefit)	4,000,000	38,000,000	176,000,000	(260,000,000)
Other comprehensive income (loss)	(2,000,000)	107,000,000	756,000,000	(1,089,000,000)
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	949,000,000	(705,000,000)	7,912,000,000	(5,055,000,000)
Less: Reclassification adjustments included in net income	127,000,000	40,000,000	187,000,000	19,000,000
Total other comprehensive income (loss), before income tax expense (benefit)	822,000,000	(745,000,000)	7,725,000,000	(5,074,000,000)
Less: Income tax expense (benefit)	166,000,000	13,000,000	1,447,000,000	(852,000,000)
Other comprehensive income (loss)	656,000,000	(758,000,000)	6,278,000,000	(4,222,000,000)
Foreign Currency Translation Adjustments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(24,000,000)	(131,000,000)	31,000,000	(154,000,000)
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	(24,000,000)	(131,000,000)	31,000,000	(154,000,000)
Less: Income tax expense (benefit)	10,000,000	(2,000,000)	30,000,000	27,000,000
Other comprehensive income (loss)	(34,000,000)	(129,000,000)	1,000,000	(181,000,000)
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	3,000,000	7,000,000	3,000,000	26,000,000
Less: Reclassification adjustments included in net income	(9,000,000)	(9,000,000)	(24,000,000)	(26,000,000)
Total other comprehensive income (loss), before income tax expense (benefit)	12,000,000	16,000,000	27,000,000	52,000,000
Less: Income tax expense (benefit)	5,000,000	2,000,000	13,000,000	(14,000,000)
Other comprehensive income (loss)	7,000,000	14,000,000	14,000,000	66,000,000
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	1,000,000	0	(1,000,000)	1,000,000
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	1,000,000	0	(1,000,000)	1,000,000
Less: Income tax expense (benefit)	0	0	0	0
Other comprehensive income (loss)	$ 1,000,000	$ 0	$ (1,000,000)	$ 1,000,000

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investments	$ 953	$ (476)	$ 1,024	$ (207)
Deferred acquisition costs adjustment	1,252	1,118	3,980	3,813
Future policy benefits	6,892	8,312	19,373	19,484
Total	119	32	160	(2)
Income (loss) from continuing operations before income tax expense (benefit)	1,260	(1,527)	4,251	952
Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) from continuing operations before income tax expense (benefit)	119	32	160	(2)
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	1	(3)	5
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	1	(3)	5
Total	1	1	(3)	5
Unrealized appreciation (depreciation) of all other investments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	127	40	187	19
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	127	10	187	19
Deferred acquisition costs adjustment	0	30	0	0
Future policy benefits	0	0	0	0
Total	127	40	187	19
Change in retirement plan liabilities adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	(9)	(9)	(24)	(26)
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	0	1
Actuarial gains (losses)	(9)	(9)	(24)	(27)
Total	$ (9)	$ (9)	$ (24)	$ (26)

EARNINGS PER COMMON SHARE (EP_3

EARNINGS PER COMMON SHARE (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator for EPS:
Income (loss) from continuing operations	$ 973	$ (1,220)	$ 3,301	$ 661
Less: Net income from continuing operations attributable to noncontrolling interests	317	0	881	5
Less: Preferred stock dividends	8	0	15	0
Net income (loss) attributable to AIG common shareholders from continuing operations	648	(1,220)	2,405	656
Loss from discontinued operations, net of income tax expense	0	(39)	(1)	(40)
Net income (loss) attributable to AIG common shareholders	$ 648	$ (1,259)	$ 2,404	$ 616
Denominator for EPS:
Weighted average common shares outstanding - basic	877,009,495	895,237,359	876,262,372	902,081,555
Dilutive common shares	18,804,915	0	10,958,744	14,736,714
Weighted average common shares outstanding - diluted	895,814,410	895,237,359	887,221,116	916,818,269
Basic:
Income (loss) from continuing operations	$ 0.74	$ (1.37)	$ 2.74	$ 0.72
Income (loss) from discontinued operations	0	(0.04)	0	(0.04)
Income (loss) attributable to AIG common shareholders	0.74	(1.41)	2.74	0.68
Diluted:
Income (loss) from continuing operations	0.72	(1.37)	2.71	0.71
Income (loss) from discontinued operations	0	(0.04)	0	(0.04)
Income (loss) attributable to AIG common shareholders	$ 0.72	$ (1.41)	$ 2.71	$ 0.67
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive	5,100,000	5,800,000	24,900,000	4,700,000
Dilutive Shares Excluded From Computation Of Diluted Earnings Per Share		13,538,168

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Pensions
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 8	$ 6	$ 23	$ 21
Interest cost	47	45	142	134
Expected return on assets	(63)	(78)	(188)	(232)
Amortization of prior service cost (credit)	0	0	1	1
Amortization of net (gain) loss	10	9	29	27
Net periodic benefit cost (credit)	2	(18)	7	(49)
Settlement charges	0	0	(3)	0
Net benefit cost (credit)	2	(18)	4	(49)
Pensions | U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	0	7	4
Interest cost	44	41	131	122
Expected return on assets	(58)	(72)	(172)	(213)
Amortization of prior service cost (credit)	0	0	0	0
Amortization of net (gain) loss	9	7	25	21
Net periodic benefit cost (credit)	(3)	(24)	(9)	(66)
Settlement charges	0	0	0	0
Net benefit cost (credit)	(3)	(24)	(9)	(66)
Pensions | Non U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	6	16	17
Interest cost	3	4	11	12
Expected return on assets	(5)	(6)	(16)	(19)
Amortization of prior service cost (credit)	0	0	1	1
Amortization of net (gain) loss	1	2	4	6
Net periodic benefit cost (credit)	5	6	16	17
Settlement charges	0	0	(3)	0
Net benefit cost (credit)	5	6	13	17
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	1	2
Interest cost	2	2	6	6
Expected return on assets	0	0	0	0
Amortization of prior service cost (credit)	0	0	(1)	(2)
Amortization of net (gain) loss	0	0	(1)	0
Net periodic benefit cost (credit)	2	2	5	6
Settlement charges	0	0	0	0
Net benefit cost (credit)	2	2	5	6
Postretirement Plans | U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	1	1
Interest cost	2	1	5	4
Expected return on assets	0	0	0	0
Amortization of prior service cost (credit)	0	0	0	(1)
Amortization of net (gain) loss	0	0	(1)	0
Net periodic benefit cost (credit)	2	1	5	4
Settlement charges	0	0	0	0
Net benefit cost (credit)	2	1	5	4
AIG contributions			160
Postretirement Plans | Non U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	1
Interest cost	0	1	1	2
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)	0	1	0	2
Settlement charges	0	0	0	0
Net benefit cost (credit)	$ 0	$ 1	$ 0	$ 2

INCOME TAXES (Details - EFFECTI

INCOME TAXES (Details - EFFECTIVE TAX RATE) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income (loss) from continuing operations before income tax expense (benefit)
Income from continuing operations before income tax expense	$ 1,260	$ (1,527)	$ 4,251	$ 952
U.S.:
Income tax expense	287	(307)	950	291
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 from continuing operations before income tax expense	1,260	(1,527)	4,251	952
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	287	$ (307)	950	$ 291
Valuation allowance
Increase (Decrease) in certain other valuation allowances associated with foreign jurisdictions	$ (9)		$ (40)
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%	21.00%	21.00%	21.00%
Adjustments:
Amounts attributable to continuing operations (as a percent)	22.80%	20.10%	22.30%	30.60%
Accounting for Uncertainty in Income Taxes
Unrecognized tax benefits, excluding interest and penalties	$ 4,800		$ 4,800		$ 4,700
Unrecognized tax benefits, if recognized would not affect the effective tax rate	43		43		38
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	2,400		2,400		$ 2,200
Unrecognized tax benefits, interest net of the federal (benefit) expense and penalties			181	$ 148
Decrease in Unrecognized Tax Benefits is Reasonably Possible in the next twelve months	$ 3,900		$ 3,900
U.S. taxable income from life companies offset by those net operating loss carryforwards			35.00%

INCOME TAXES (Details - Assessm

INCOME TAXES (Details - Assessment of Deferred Tax Asset (liabilities) Valuation Allowance) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Life insurance companies
Deferred Tax Assets, Liabilities [Line Items]
Deferred tax asset valuation allowance allocated to other comprehensive income	$ 290

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2017
Income Tax [Line Items]
U.S. federal income tax at statutory rate (as a percent)	21.00%	21.00%	21.00%	21.00%
Tax Cuts And Jobs Act Of 2017 Transition Tax For Accumulated Foreign Earnings Income Tax Expense					$ 62

INFORMATION PROVIDED IN CONNE_3

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Balance Sheets) - USD ($) $ in Millions	Sep. 30, 2019		Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018		Jun. 30, 2018	Dec. 31, 2017
Assets:
Short-term investments	$ 14,113			$ 9,674
Other investments	326,880			304,535
Total investments	340,993			314,209
Cash	3,361			2,873	$ 2,741
Loans to subsidiaries	0			0
Investment in consolidated subsidiaries	0			0
Other assets, including deferred income taxes	180,768			174,902
Total assets	525,122			491,984
Liabilities:
Insurance liabilities	305,993			293,652
Long-term Debt	35,262			34,540
Other liabilities, including intercompany balances	116,422			106,483
Loans from subsidiaries	0			0
Total liabilities	457,677			434,675
Total AIG shareholders' equity	65,603			56,361
Non-redeemable noncontrolling interests	1,842			948
Total equity	67,445		$ 66,105	57,309	59,177		$ 61,797	$ 65,708
Total liabilities and equity	525,122			491,984
AIG (As Guarantor)
Assets:
Short-term investments	3,229			1,141
Other investments	4,505			3,377
Total investments	7,734			4,518
Cash	3			2	3
Loans to subsidiaries	35,142			34,963
Investment in consolidated subsidiaries	40,115			33,300
Other assets, including deferred income taxes	15,583			15,389
Total assets	98,577			88,172
Liabilities:
Insurance liabilities	0			0
Long-term Debt	21,905			22,422
Other liabilities, including intercompany balances	10,321			8,774
Loans from subsidiaries	748			615
Total liabilities	32,974			31,811
Total AIG shareholders' equity	65,603			56,361
Non-redeemable noncontrolling interests	0			0
Total equity	65,603			56,361
Total liabilities and equity	98,577			88,172
Validus Holdings, Ltd
Assets:
Short-term investments	2			2
Other investments	0			0
Total investments	2			2
Cash	20			9	66
Loans to subsidiaries	0			0
Investment in consolidated subsidiaries	3,814			4,029
Other assets, including deferred income taxes	1,792			1,798
Total assets	5,628			5,838
Liabilities:
Insurance liabilities	0			0
Long-term Debt	355			359
Other liabilities, including intercompany balances	8			228
Loans from subsidiaries	0			0
Total liabilities	363			587
Total AIG shareholders' equity	5,265			5,251
Non-redeemable noncontrolling interests	0			0
Total equity	5,265			5,251
Total liabilities and equity	5,628			5,838
AIGLH
Assets:
Short-term investments	0			0
Other investments	0			0
Total investments	0			0
Cash	1			9	3
Loans to subsidiaries	0			0
Investment in consolidated subsidiaries	33,315			26,321
Other assets, including deferred income taxes	18			124
Total assets	33,334			26,454
Liabilities:
Insurance liabilities	0			0
Long-term Debt	643			643
Other liabilities, including intercompany balances	23			144
Loans from subsidiaries	0			0
Total liabilities	666			787
Total AIG shareholders' equity	32,668			25,667
Non-redeemable noncontrolling interests	0			0
Total equity	32,668			25,667
Total liabilities and equity	33,334			26,454
Other Subsidiaries
Assets:
Short-term investments	13,374			10,329
Other investments	322,375			301,158
Total investments	335,749			311,487
Cash	3,337			2,853	2,669
Loans to subsidiaries	752			615
Investment in consolidated subsidiaries	0			0
Other assets, including deferred income taxes	165,222			159,430
Total assets	505,060			474,385
Liabilities:
Insurance liabilities	305,993			293,652
Long-term Debt	12,359			11,116
Other liabilities, including intercompany balances	110,413			100,974
Loans from subsidiaries	35,142			34,963
Total liabilities	463,907			440,705
Total AIG shareholders' equity	39,311			32,732
Non-redeemable noncontrolling interests	1,842			948
Total equity	41,153			33,680
Total liabilities and equity	505,060			474,385
Other assets
Assets:
Restricted cash	345	[1]		343	354	[1]
Other assets | AIG (As Guarantor)
Assets:
Restricted cash	1			1	1
Other assets | Validus Holdings, Ltd
Assets:
Restricted cash	0				0
Other assets | AIGLH
Assets:
Restricted cash	0				0
Other assets | Other Subsidiaries
Assets:
Restricted cash	344			342	353
Short-term investments
Assets:
Restricted cash	64	[1]		142	28	[1]
Short-term investments | AIG (As Guarantor)
Assets:
Restricted cash	1			124	1
Short-term investments | Validus Holdings, Ltd
Assets:
Restricted cash	0				0
Short-term investments | AIGLH
Assets:
Restricted cash	0				0
Short-term investments | Other Subsidiaries
Assets:
Restricted cash	63			18	27
Reclassification and Eliminations
Assets:
Short-term investments	(2,492)			(1,798)
Other investments	0			0
Total investments	(2,492)			(1,798)
Cash	0			0	0
Loans to subsidiaries	(35,894)			(35,578)
Investment in consolidated subsidiaries	(77,244)			(63,650)
Other assets, including deferred income taxes	(1,847)			(1,839)
Total assets	(117,477)			(102,865)
Liabilities:
Insurance liabilities	0			0
Long-term Debt	0			0
Other liabilities, including intercompany balances	(4,343)			(3,637)
Loans from subsidiaries	(35,890)			(35,578)
Total liabilities	(40,233)			(39,215)
Total AIG shareholders' equity	(77,244)			(63,650)
Non-redeemable noncontrolling interests	0			0
Total equity	(77,244)			(63,650)
Total liabilities and equity	(117,477)			$ (102,865)
Reclassification and Eliminations | Other assets
Assets:
Restricted cash	0				0
Reclassification and Eliminations | Short-term investments
Assets:
Restricted cash	$ 0				$ 0
[1]	Includes funds held for tax sharing payments to AIG Parent, 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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Equity in earnings of consolidated subsidiaries	$ 0	$ 0	$ 0	$ 0
Other income	12,914	11,486	37,931	34,829
Total revenues	12,914	11,486	37,931	34,829
Expenses:
Interest expense	348	326	1,057	902
Losses on extinguishment of debt	0	1	13	10
Other expenses	11,306	12,686	32,610	32,965
Total benefits, losses and expenses	11,654	13,013	33,680	33,877
Income (loss) from continuing operations before income tax expense (benefit)	1,260	(1,527)	4,251	952
Income tax expense (benefit)	287	(307)	950	291
Income (loss) from continuing operations	973	(1,220)	3,301	661
Income (loss) from discontinued operations	0	(39)	(1)	(40)
Net income (loss)	973	(1,259)	3,300	621
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	317	0	881	5
Net income (loss) attributable to AIG	656	(1,259)	2,419	616
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries	998	(989)	2,873	889
Other income	279	183	843	750
Total revenues	1,277	(806)	3,716	1,639
Expenses:
Interest expense	245	244	741	710
Losses on extinguishment of debt	0	0	0	0
Other expenses	188	132	556	643
Total benefits, losses and expenses	433	376	1,297	1,353
Income (loss) from continuing operations before income tax expense (benefit)	844	(1,182)	2,419	286
Income tax expense (benefit)	187	38	(2)	(370)
Income (loss) from continuing operations	657	(1,220)	2,421	656
Income (loss) from discontinued operations	(1)	(39)	(2)	(40)
Net income (loss)	656	(1,259)	2,419	616
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	656	(1,259)	2,419	616
Validus Holdings, Ltd
Revenues:
Equity in earnings of consolidated subsidiaries	28	(93)	344	(93)
Other income	4	23	9	23
Total revenues	32	(70)	353	(70)
Expenses:
Interest expense	13	10	13	10
Losses on extinguishment of debt	(9)	0	0	0
Other expenses	7	2	12	2
Total benefits, losses and expenses	11	12	25	12
Income (loss) from continuing operations before income tax expense (benefit)	21	(82)	328	(82)
Income tax expense (benefit)	0	0	0	0
Income (loss) from continuing operations	21	(82)	328	(82)
Income (loss) from discontinued operations	0	0	0	0
Net income (loss)	21	(82)	328	(82)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	21	(82)	328	(82)
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries	1,011	1,316	2,989	2,497
Other income	0	1	0	1
Total revenues	1,011	1,317	2,989	2,498
Expenses:
Interest expense	12	12	37	37
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)	998	1,304	2,950	2,459
Income tax expense (benefit)	(2)	(2)	(4)	0
Income (loss) from continuing operations	1,000	1,306	2,954	2,459
Income (loss) from discontinued operations	0	0	0	0
Net income (loss)	1,000	1,306	2,954	2,459
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	1,000	1,306	2,954	2,459
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries	0	0	0	0
Other income	12,710	11,412	37,234	34,103
Total revenues	12,710	11,412	37,234	34,103
Expenses:
Interest expense	81	63	277	154
Losses on extinguishment of debt	9	1	13	10
Other expenses	11,185	12,513	32,183	32,357
Total benefits, losses and expenses	11,275	12,577	32,473	32,521
Income (loss) from continuing operations before income tax expense (benefit)	1,435	(1,165)	4,761	1,582
Income tax expense (benefit)	102	(343)	956	661
Income (loss) from continuing operations	1,333	(822)	3,805	921
Income (loss) from discontinued operations	1	0	1	0
Net income (loss)	1,334	(822)	3,806	921
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	317	0	881	5
Net income (loss) attributable to AIG	1,017	(822)	2,925	916
Reclassification and Eliminations
Revenues:
Equity in earnings of consolidated subsidiaries	(2,037)	(234)	(6,206)	(3,293)
Other income	(79)	(133)	(155)	(48)
Total revenues	(2,116)	(367)	(6,361)	(3,341)
Expenses:
Interest expense	(3)	(3)	(11)	(9)
Losses on extinguishment of debt	0	0	0	0
Other expenses	(75)	38	(143)	(39)
Total benefits, losses and expenses	(78)	35	(154)	(48)
Income (loss) from continuing operations before income tax expense (benefit)	(2,038)	(402)	(6,207)	(3,293)
Income tax expense (benefit)	0	0	0	0
Income (loss) from continuing operations	(2,038)	(402)	(6,207)	(3,293)
Income (loss) from discontinued operations	0	0	0	0
Net income (loss)	(2,038)	(402)	(6,207)	(3,293)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	$ (2,038)	$ (402)	$ (6,207)	$ (3,293)

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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ 973	$ (1,259)	$ 3,300	$ 621
Other comprehensive income (loss)	628	(766)	7,048	(5,425)
Comprehensive income (loss)	1,601	(2,025)	10,348	(4,804)
Comprehensive income (loss) attributable to noncontrolling interests	321	0	901	5
Comprehensive income (loss) attributable to AIG	1,280	(2,025)	9,447	(4,809)
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	656	(1,259)	2,419	616
Other comprehensive income (loss)	624	(766)	7,028	(5,425)
Comprehensive income (loss)	1,280	(2,025)	9,447	(4,809)
Comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	1,280	(2,025)	9,447	(4,809)
Validus Holdings, Ltd
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	21	(82)	328	(82)
Other comprehensive income (loss)	0	0	1	0
Comprehensive income (loss)	21	(82)	329	(82)
Comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	21	(82)	329	(82)
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,000	1,306	2,954	2,459
Other comprehensive income (loss)	303	(301)	5,521	(3,766)
Comprehensive income (loss)	1,303	1,005	8,475	(1,307)
Comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	1,303	1,005	8,475	(1,307)
AIGLH | Scenario, Previously Reported [Member]
Condensed Financial Statements, Captions [Line Items]
Other comprehensive income (loss)				3,100
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,334	(822)	3,806	921
Other comprehensive income (loss)	(1,436)	(2,229)	3,593	(6,650)
Comprehensive income (loss)	(102)	(3,051)	7,399	(5,729)
Comprehensive income (loss) attributable to noncontrolling interests	321	0	901	5
Comprehensive income (loss) attributable to AIG	(423)	(3,051)	6,498	(5,734)
Other Subsidiaries | Scenario, Previously Reported [Member]
Condensed Financial Statements, Captions [Line Items]
Other comprehensive income (loss)		(1,400)		12,600
Reclassification and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(2,038)	(402)	(6,207)	(3,293)
Other comprehensive income (loss)	1,137	2,530	(9,095)	10,416
Comprehensive income (loss)	(901)	2,128	(15,302)	7,123
Comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	$ (901)	2,128	$ (15,302)	7,123
Reclassification and Eliminations | Scenario, Previously Reported [Member]
Condensed Financial Statements, Captions [Line Items]
Other comprehensive income (loss)		$ 1,700		$ (15,700)

INFORMATION PROVIDED IN CONNE_6

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019		Dec. 31, 2018	Sep. 30, 2018
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ (789,000,000)	$ (38,000,000)
Cash flows from investing activities:
Sales of investments	48,471,000,000	46,533,000,000
Sale of divested businesses, net	2,000,000	10,000,000
Purchase of investments	(51,509,000,000)	(43,928,000,000)
Loans to subsidiaries - net	0	0
Contributions from (to) subsidiaries - net	0	0
Acquisition of businesses, net of cash and restricted cash acquired	0	(5,052,000,000)
Net change in short-term investments	(4,586,000,000)	2,411,000,000
Other, net	2,829,000,000	(891,000,000)
Net cash provided by (used in) investing activities	(4,793,000,000)	(917,000,000)
Cash flows from financing activities:
Issuance of long-term debt	2,564,000,000	4,059,000,000
Repayments of long-term debt	(2,421,000,000)	(2,788,000,000)
Issuance of preferred stock	485,000,000	0
Purchase of common stock	0	(994,000,000)
Intercompany loans - net	0	0
Dividends paid on preferred stock	(15,000,000)	0
Dividends paid on common stock	(835,000,000)	(858,000,000)
Other, net	6,177,000,000	1,914,000,000
Net cash provided by financing activities	5,955,000,000	1,333,000,000
Effect of exchange rate changes on cash and restricted cash	39,000,000	8,000,000
Change in cash and restricted cash	412,000,000	386,000,000
Cash and restricted cash at beginning of year	3,358,000,000	2,737,000,000
Cash and restricted cash at end of period	3,770,000,000	3,123,000,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			$ 3,361,000,000		$ 2,873,000,000	$ 2,741,000,000
Total cash and restricted cash shown in the Condensed Consolidated Cash Flows	3,770,000,000	2,737,000,000	3,770,000,000		3,358,000,000	3,123,000,000
Interest:
Third party	(1,012,000,000)	(1,018,000,000)
Intercompany	0	0
Taxes:
Income tax authorities	(193,000,000)	(67,000,000)
Intercompany	0	0
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	2,755,000,000	1,389,000,000
Cash flows from investing activities:
Sales of investments	2,090,000,000	4,641,000,000
Sale of divested businesses, net	0	0
Purchase of investments	(2,395,000,000)	(1,680,000,000)
Loans to subsidiaries - net	534,000,000	878,000,000
Contributions from (to) subsidiaries - net	(239,000,000)	22,000,000
Acquisition of businesses, net of cash and restricted cash acquired		(5,475,000,000)
Net change in short-term investments	(2,242,000,000)	1,267,000,000
Other, net	87,000,000	(55,000,000)
Net cash provided by (used in) investing activities	(2,165,000,000)	(402,000,000)
Cash flows from financing activities:
Issuance of long-term debt	595,000,000	2,470,000,000
Repayments of long-term debt	(1,006,000,000)	(1,493,000,000)
Issuance of preferred stock	485,000,000
Purchase of common stock	0	(994,000,000)
Intercompany loans - net	127,000,000	50,000,000
Dividends paid on preferred stock	(15,000,000)
Dividends paid on common stock	(835,000,000)	(858,000,000)
Other, net	(63,000,000)	(165,000,000)
Net cash provided by financing activities	(712,000,000)	(990,000,000)
Effect of exchange rate changes on cash and restricted cash	0	0
Change in cash and restricted cash	(122,000,000)	(3,000,000)
Cash and restricted cash at beginning of year	127,000,000	8,000,000
Cash and restricted cash at end of period	5,000,000	5,000,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			3,000,000		2,000,000	3,000,000
Total cash and restricted cash shown in the Condensed Consolidated Cash Flows	127,000,000	8,000,000	5,000,000		127,000,000	5,000,000
Interest:
Third party	(735,000,000)	(706,000,000)
Intercompany	(2,000,000)	(1,000,000)
Taxes:
Income tax authorities	(12,000,000)	(23,000,000)
Intercompany	1,035,000,000	1,084,000,000
Non-cash financing and investing activities:
Return of capital	15,000,000	2,706,000,000
Dividends received in the form of securities	659,000,000	745,000,000
Capital contributions	15,000,000	2,339,000,000
Validus Holdings, Ltd
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	101,000,000	(40,000,000)
Cash flows from investing activities:
Sales of investments	0	0
Sale of divested businesses, net	0	0
Purchase of investments	0	0
Loans to subsidiaries - net	0	0
Contributions from (to) subsidiaries - net	0	0
Acquisition of businesses, net of cash and restricted cash acquired		112,000,000
Net change in short-term investments	0	0
Other, net	0	0
Net cash provided by (used in) investing activities	0	112,000,000
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	0
Issuance of preferred stock	0
Purchase of common stock	0	0
Intercompany loans - net	0	0
Dividends paid on preferred stock	0
Dividends paid on common stock	(90,000,000)	(6,000,000)
Other, net	0	0
Net cash provided by financing activities	(90,000,000)	(6,000,000)
Effect of exchange rate changes on cash and restricted cash	0	0
Change in cash and restricted cash	11,000,000	66,000,000
Cash and restricted cash at beginning of year	9,000,000	0
Cash and restricted cash at end of period	20,000,000	66,000,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			20,000,000		9,000,000	66,000,000
Total cash and restricted cash shown in the Condensed Consolidated Cash Flows	9,000,000	0	20,000,000		9,000,000	66,000,000
Interest:
Third party	(22,000,000)	14,000,000
Intercompany	(31,000,000)	0
Taxes:
Income tax authorities	0	0
Intercompany	2,000,000	0
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	1,462,000,000	2,003,000,000
Cash flows from investing activities:
Sales of investments	0	0
Sale of divested businesses, net	0	0
Purchase of investments	0	0
Loans to subsidiaries - net	0	0
Contributions from (to) subsidiaries - net	0	0
Acquisition of businesses, net of cash and restricted cash acquired		0
Net change in short-term investments	0	0
Other, net	0	0
Net cash provided by (used in) investing activities	0	0
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	0
Issuance of preferred stock	0
Purchase of common stock	0	0
Intercompany loans - net	0	0
Dividends paid on preferred stock	0
Dividends paid on common stock	(1,470,000,000)	(2,020,000,000)
Other, net	0	0
Net cash provided by financing activities	(1,470,000,000)	(2,020,000,000)
Effect of exchange rate changes on cash and restricted cash	0	0
Change in cash and restricted cash	(8,000,000)	(17,000,000)
Cash and restricted cash at beginning of year	9,000,000	20,000,000
Cash and restricted cash at end of period	1,000,000	3,000,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			1,000,000		9,000,000	3,000,000
Total cash and restricted cash shown in the Condensed Consolidated Cash Flows	9,000,000	20,000,000	1,000,000		9,000,000	3,000,000
Interest:
Third party	(48,000,000)	(47,000,000)
Intercompany	0	1,000,000
Taxes:
Income tax authorities	0	0
Intercompany	0	0
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(1,068,000,000)	(433,000,000)
Cash flows from investing activities:
Sales of investments	46,921,000,000	45,218,000,000
Sale of divested businesses, net	2,000,000	10,000,000
Purchase of investments	(49,654,000,000)	(45,574,000,000)
Loans to subsidiaries - net	(127,000,000)	(50,000,000)
Contributions from (to) subsidiaries - net	0	0
Acquisition of businesses, net of cash and restricted cash acquired		311,000,000
Net change in short-term investments	(2,344,000,000)	1,144,000,000
Other, net	2,742,000,000	(836,000,000)
Net cash provided by (used in) investing activities	(2,460,000,000)	223,000,000
Cash flows from financing activities:
Issuance of long-term debt	1,969,000,000	1,589,000,000
Repayments of long-term debt	(1,415,000,000)	(1,295,000,000)
Issuance of preferred stock	0
Purchase of common stock	0	0
Intercompany loans - net	(534,000,000)	(878,000,000)
Dividends paid on preferred stock	0
Dividends paid on common stock	(2,479,000,000)	(931,000,000)
Other, net	6,479,000,000	2,057,000,000
Net cash provided by financing activities	4,020,000,000	542,000,000
Effect of exchange rate changes on cash and restricted cash	39,000,000	8,000,000
Change in cash and restricted cash	531,000,000	340,000,000
Cash and restricted cash at beginning of year	3,213,000,000	2,709,000,000
Cash and restricted cash at end of period	3,744,000,000	3,049,000,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash			3,337,000,000		2,853,000,000	2,669,000,000
Total cash and restricted cash shown in the Condensed Consolidated Cash Flows	3,213,000,000	2,709,000,000	3,744,000,000		3,213,000,000	3,049,000,000
Interest:
Third party	(207,000,000)	(279,000,000)
Intercompany	(29,000,000)	2,000,000
Taxes:
Income tax authorities	(181,000,000)	(44,000,000)
Intercompany	(1,037,000,000)	(1,084,000,000)
Other assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			345,000,000	[1]	343,000,000	354,000,000	[1]
Other assets | AIG (As Guarantor)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			1,000,000		1,000,000	1,000,000
Other assets | Validus Holdings, Ltd
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			0			0
Other assets | AIGLH
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			0			0
Other assets | Other Subsidiaries
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			344,000,000		342,000,000	353,000,000
Short-term investments
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			64,000,000	[1]	142,000,000	28,000,000	[1]
Short-term investments | AIG (As Guarantor)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			1,000,000		124,000,000	1,000,000
Short-term investments | Validus Holdings, Ltd
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			0			0
Short-term investments | AIGLH
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			0			0
Short-term investments | Other Subsidiaries
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			63,000,000		18,000,000	27,000,000
Reclassification and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(4,039,000,000)	(2,957,000,000)
Cash flows from investing activities:
Sales of investments	(540,000,000)	(3,326,000,000)
Sale of divested businesses, net	0	0
Purchase of investments	540,000,000	3,326,000,000
Loans to subsidiaries - net	(407,000,000)	(828,000,000)
Contributions from (to) subsidiaries - net	239,000,000	(22,000,000)
Acquisition of businesses, net of cash and restricted cash acquired		0
Net change in short-term investments	0	0
Other, net	0	0
Net cash provided by (used in) investing activities	(168,000,000)	(850,000,000)
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	0
Issuance of preferred stock	0
Purchase of common stock	0	0
Intercompany loans - net	407,000,000	828,000,000
Dividends paid on preferred stock	0
Dividends paid on common stock	4,039,000,000	2,957,000,000
Other, net	(239,000,000)	22,000,000
Net cash provided by financing activities	4,207,000,000	3,807,000,000
Effect of exchange rate changes on cash and restricted cash	0	0
Change in cash and restricted cash	0	0
Cash and restricted cash at beginning of year	0	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	0
Total cash and restricted cash shown in the Condensed Consolidated Cash Flows	0	0	0		$ 0	0
Interest:
Third party	0	0
Intercompany	0	0
Taxes:
Income tax authorities	0	0
Intercompany	$ 0	$ 0
Reclassification and Eliminations | Other assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			0			0
Reclassification and Eliminations | Short-term investments
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Restricted cash			$ 0			$ 0
[1]	Includes funds held for tax sharing payments to AIG Parent, security deposits, and replacement reserve deposits related to our affordable housing investments.

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	Oct. 31, 2019	Sep. 30, 2019	Jun. 28, 2019	Mar. 29, 2019	Sep. 28, 2018	Jun. 28, 2018	Mar. 29, 2018
Subsequent Event [Line Items]
Date dividends declared		Aug. 7, 2019	May 6, 2019	Feb. 13, 2019	Aug. 2, 2018	May 2, 2018	Feb. 8, 2018
Date dividends paid		Sep. 30, 2019	Jun. 28, 2019	Mar. 29, 2019	Sep. 28, 2018	Jun. 28, 2018	Mar. 29, 2018
Date of record		Sep. 17, 2019	Jun. 14, 2019	Mar. 15, 2019	Sep. 17, 2018	Jun. 14, 2018	Mar. 15, 2018
Subsequent event
Subsequent Event [Line Items]
Dividends declared per common share	$ 0.32
Dividends declared per preferred share	$ 365.625
Subsequent event | Common Stock
Subsequent Event [Line Items]
Date dividends declared	Oct. 31, 2019
Date dividends paid	Dec. 26, 2019
Date of record	Dec. 12, 2019
Subsequent event | Preferred Stock
Subsequent Event [Line Items]
Date dividends declared	Oct. 31, 2019
Date dividends paid	Dec. 16, 2019
Date of record	Nov. 29, 2019