Equitable Financial Life Insurance 10-Q 13 May 16 2016 Q1 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	3 Months Ended
	Mar. 31, 2016	May. 13, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016
Amendment Flag	false
Entity Registrant Name	AXA EQUITABLE LIFE INSURANCE CO
Entity Central Index Key	727,920
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		2,000,000

CONSOLIDATED BALANCE SHEET (UNA

CONSOLIDATED BALANCE SHEET (UNAUDITED) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Fixed maturities available for sale, at fair value (amortized cost of $32,536 and $31,201)	$ 34,520	$ 31,893
Mortgage loans on real estate (net of valuation allowances of $7 and $6)	7,696	7,171
Policy loans	3,381	3,393
Other equity investments	1,398	1,477
Trading securities, at fair value	7,124	6,805
Other invested assets	2,143	1,788
Total investments	56,262	52,527
Cash and cash equivalents	3,485	3,063
Cash and cash equivalents, excluding Variable Interest Entities	3,452	3,028
Cash and securities segregated, at fair value	724	565
Broker-dealer related receivables	1,852	1,971
Securities purchased under agreements to resell	205	79
Deferred policy acquisition costs	4,505	4,469
Goodwill and other intangible assets, net	3,726	3,733
Amounts due from reinsurers	4,605	4,466
Loans to affiliates	704	1,087
Guaranteed minimum income benefit reinsurance contract asset, at fair value	12,207	10,570
Other assets	4,516	4,634
Separate Accounts’ assets	106,873	107,497
Total Assets	199,983	194,626
LIABILITIES
Policyholders’ account balances	33,710	33,033
Future policy benefits and other policyholders’ liabilities	25,272	24,531
Broker-dealer related payables	734	404
Securities sold under agreements to repurchase	2,038	1,890
Amounts due to reinsurers	89	131
Customers related payables	1,850	1,715
Short-term debt	486	584
Current and deferred income taxes	5,833	4,647
Other liabilities	2,841	2,586
Separate Accounts’ liabilities	106,873	107,497
Total liabilities	179,802	177,018
Commitments and contingent liabilities	0	0
Redeemable Noncontrolling Interest	218	13
Stockholders' Equity Attributable to Parent [Abstract]
Common stock, $1.25 par value; 2 million shares authorized, issued and outstanding	2	2
Capital in excess of par value	5,317	5,321
Retained earnings	10,561	8,958
Accumulated other comprehensive income (loss)	1,014	228
Total AXA Equitable’s equity	16,894	14,509
Noncontrolling interest	3,069	3,086
Total equity	19,963	17,595
Total Liabilities, Redeemable Noncontrolling Interest and Equity	199,983	194,626
Variable Interest Entity, Primary Beneficiary
ASSETS
Total investments	243	0
Cash and cash equivalents	33	0
Other assets	76	0
Total Assets	352	0
LIABILITIES
Other liabilities	$ 76	$ 0

CONSOLIDATED BALANCE SHEET (UN3

CONSOLIDATED BALANCE SHEET (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fixed maturities available for sale, amortized cost	$ 32,536
Mortgage loans on real estate, valuation allowances	$ 7	$ 6
Common Stock par value (in dollars per share)	$ 1.25	$ 1.25
Common Stock authorized (in shares)	2,000,000	2,000,000
Common stock issued (in shares)	2,000,000	2,000,000
Common stock outstanding (in shares)	2,000,000	2,000,000
Fixed Maturities
Fixed maturities available for sale, amortized cost	$ 32,536	$ 31,201

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
REVENUES
Universal life and investment-type product policy fee income	$ 901	$ 886
Premiums	126	140
Net investment income (loss):
Investment income (loss) from derivative instruments	748	337
Other investment income (loss)	696	531
Total net investment income (loss)	1,444	868
Investment gains (losses), net:
Total other-than-temporary impairment losses	(17)	(2)
Portion of loss recognized in other comprehensive income (loss)	0	0
Net impairment losses recognized	(17)	(2)
Other investment gains (losses), net	30	(1)
Total investment gains (losses), net	13	(3)
Commissions, fees and other income	913	986
Increase (decrease) in the fair value of the reinsurance contract asset	1,637	690
Total revenues	5,034	3,567
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits	1,150	923
Interest credited to policyholders’ account balances	277	320
Compensation and benefits	426	447
Commissions	268	274
Distribution related payments	87	101
Amortization of deferred sales commissions	11	12
Interest expense	4	5
Amortization of deferred policy acquisition costs	131	140
Capitalization of deferred policy acquisition costs	(141)	(144)
Rent expense	39	39
Amortization of other intangible assets	7	7
Other operating costs and expenses	321	313
Total benefits and other deductions	2,580	2,437
Earnings (loss) from continuing operations, before income taxes	2,454	1,130
Income tax (expense) benefit	(734)	(276)
Net earnings (loss)	1,720	854
Less: net (earnings) loss attributable to the noncontrolling interest	(117)	(95)
Net Earnings (Loss) Attributable to AXA Equitable	$ 1,603	$ 759

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 1,720	$ 854
Other comprehensive income (loss) net of income taxes:
Foreign currency translation adjustment	9	(12)
Change in unrealized gains (losses), net of reclassification adjustment	780	339
Changes in defined benefit plan related items not yet recognized in periodic benefit cost, net of reclassification adjustment	0	19
Total other comprehensive income (loss), net of income taxes	789	346
Comprehensive income (loss)	2,509	1,200
Less: Comprehensive (income) loss attributable to noncontrolling interest	(120)	(86)
Comprehensive Income (Loss) Attributable to AXA Equitable	$ 2,389	$ 1,114

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) - USD ($) $ in Millions	Total	Parent	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI Attributable to Parent	Noncontrolling Interest
Beginning of year at Dec. 31, 2014				$ 5,957	$ 8,809	$ 351	$ 2,989
Deferred tax on dividend of AB Units				0
Net earnings (loss)	$ 854				759		95
Dividends paid to noncontrolling interest							118
Other comprehensive income (loss)	346					355	(9)
Repurchase of AB Holding units							(12)
Dividends and distributions					0
Other changes in noncontrolling interest				3			10
End of year at Mar. 31, 2015	19,191	$ 16,236		5,960	9,568	706	2,955
Common stock, at par value, beginning of year and end of period	2
Beginning of year at Dec. 31, 2015	17,595			5,321	8,958	228	3,086
Deferred tax on dividend of AB Units				0
Net earnings (loss)	1,720				1,603		117
Dividends paid to noncontrolling interest							111
Other comprehensive income (loss)	789					786	3
Repurchase of AB Holding units							(4)
Dividends and distributions					0
Other changes in noncontrolling interest				(4)			(22)
End of year at Mar. 31, 2016	19,963	$ 16,894		$ 5,317	$ 10,561	$ 1,014	$ 3,069
Common stock, at par value, beginning of year and end of period	$ 2		$ 2

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net earnings (loss)	$ 1,720	$ 854
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:
Interest credited to policyholders’ account balances	277	320
Universal life and investment-type product policy fee income	(901)	(886)
(Increase) decrease in the fair value of the reinsurance contract asset	(1,637)	(690)
(Income) loss related to derivative instruments	(748)	(337)
Investment (gains) losses, net	(13)	3
Realized and unrealized (gains) losses on trading securities	(66)	(39)
Amortization of deferred compensation	1	2
Amortization of deferred sales commissions	11	12
Other depreciation and amortization	4	32
Amortization of reinsurance cost	9	56
Amortization of other intangible assets	7	7
Net broker-dealer and customer related receivables/payables	398	63
Reinsurance recoverable with affiliate	(145)	(40)
Segregated cash and securities, net	(159)	(44)
Deferred policy acquisition costs	(10)	(4)
Future policy benefits	572	397
Current and deferred income taxes	733	284
Accounts payable and accrued expenses	(2)	103
Other, net	50	125
Net cash provided by (used in) operating activities	99	218
Cash flows from investing activities:
Fixed maturities, available for sale	1,255	1,572
Mortgage loans on real estate	167	59
Trading account securities	1,788	4,510
Other proceeds	10	44
Fixed maturities, available for sale	(2,359)	(2,046)
Mortgage loans on real estate	(692)	(110)
Trading account securities	(2,100)	(4,957)
Other payments	(26)	(39)
Cash settlements related to derivative instruments	458	600
Decrease in loans to affiliates	382	0
Change in short-term investments	(94)	4
Investment in capitalized software, leasehold improvements and EDP equipment	(20)	(12)
Other, net	78	20
Net cash provided by (used in) investing activities	(1,153)	(355)
Cash flows from financing activities:
Deposits and transfers from Separate Accounts	1,507	1,001
Withdrawals	(121)	(223)
Change in short-term financings	(98)	16
Change in collateralized pledged assets	36	30
Change in collateralized pledged liabilities	319	(1)
Repurchase of AB Holding units	(40)	(17)
Distribution to noncontrolling interests in consolidated entities	(111)	(118)
Increase (decrease) in Securities sold under agreement to repurchase	147	17
(Increase) decrease in securities purchased under agreement to resell	(126)	(412)
Other, net	3	6
Net cash provided by (used in) financing activities	1,468	299
Effect of exchange rate changes on cash and cash equivalents	8	(9)
Change in cash and cash equivalents	422	153
Cash and cash equivalents, beginning of year	3,063	2,716
Cash and Cash Equivalents, End of Period	3,485	2,869
Variable Interest Entity, Primary Beneficiary
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:
Variable interest entities	(2)	0
Cash flows from financing activities:
Distribution to noncontrolling interests in consolidated entities	(48)	$ 0
Cash and cash equivalents, beginning of year	0
Cash and Cash Equivalents, End of Period	$ 33

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	ORGANIZATION AND BASIS OF PRESENTATION The preparation of the accompanying unaudited consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions (including normal, recurring accruals) that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. The accompanying unaudited interim consolidated financial statements reflect all adjustments necessary in the opinion of management for a fair presentation of the consolidated financial position of AXA Equitable and its consolidated results of operations and cash flows for the periods presented. All significant intercompany transactions and balances have been eliminated in consolidation. These statements should be read in conjunction with the audited Consolidated Financial Statements of AXA Equitable for the year ended December 31, 2015 . The results of operations for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for the full year. The accompanying consolidated financial statements include the accounts of AXA Equitable and its subsidiaries engaged in insurance related businesses (collectively, the “Insurance Segment”); other subsidiaries, principally AB, engaged in investment management related businesses (the “Investment Management Segment”), partnerships and joint ventures in which AXA Equitable or its subsidiaries have control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation (collectively the “Company”). At March 31, 2016 and December 31, 2015 , AXA Equitable’s economic interest in AB was 28.8 % and 28.6% . At March 31, 2016 and December 31, 2015 , respectively, AXA and its subsidiaries’ economic interest in AB was 63.2 % and 62.8% . The terms “ first quarter 2016 ” and “ first quarter 2015 ” refer to the three months ended March 31, 2016 and 2015 , respectively. Certain reclassifications have been made in the amounts presented for prior periods to conform those periods to the current presentation.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES Accounting for Variable Annuities with GMDB and GMIB Features Future claims exposure on products with guaranteed minimum death benefit (“GMDB”) and guaranteed minimum income benefit (“GMIB”) features are sensitive to movements in the equity markets and interest rates. The Company has in place various hedging programs utilizing derivatives that are designed to mitigate the impact of movements in equity markets and interest rates. The accounting for these various hedging programs does not qualify for hedge accounting treatment. As a result, changes in the value of the derivatives will be recognized in the period in which they occur while offsetting changes in reserves and deferred policy acquisition costs (“DAC”) will be recognized over time in accordance with policies described in the Company’s Notes to Consolidated Financial Statements for the year ended December 31, 2015 , under “Policyholders’ Account Balances and Future Policy Benefits” and “DAC”. These differences in recognition contribute to earnings volatility. GMIB reinsurance contracts are used to cede to affiliated and non-affiliated reinsurers a portion of the exposure on variable annuity products that offer the GMIB feature. The GMIB reinsurance contracts are accounted for as derivatives and are reported at fair value. Gross reserves for GMIB are calculated on the basis of assumptions related to projected benefits and related contract charges over the lives of the contracts and therefore will not immediately reflect the offsetting impact on future claims exposure resulting from the same capital market and/or interest rate fluctuations that cause gains or losses on the fair value of the GMIB reinsurance contracts. The changes in the fair value of the GMIB reinsurance contracts are recorded in the period in which they occur while offsetting changes in gross reserves and DAC for GMIB are recognized over time in accordance with policies described in the Company’s Notes to Consolidated Financial Statements for the year ended December 31, 2015 under “Policyholders’ Account Balances and Future Policy Benefits” and “DAC”. These differences in recognition contribute to earnings volatility. Adoption of New Accounting Pronouncements In February 2015, the FASB issued a new consolidation standard that makes targeted amendments to the VIE assessment, including guidance specific to the analysis of fee arrangements and related party relationships, modifies the guidance for the evaluation of limited partnerships and similar entities for consolidation to eliminate the presumption of general partner control, and ends the deferral that had been granted to certain investment companies for applying previous VIE guidance. The Company adopted this new standard beginning January 1, 2016, having elected not to early-adopt in previous interim periods, and applied the guidance using a modified retrospective approach, thereby not requiring the restatement of prior year periods. The Company’s reevaluation of all legal entities under the new standard resulted in identification of additional VIEs and consolidation of certain investment products of the Investment Management segment that were not consolidated in accordance with previous guidance. “See Consolidation of VIEs” below. In May 2015, the FASB issued new guidance related to disclosures for investments in certain entities that calculate net asset value (“NAV”) per share (or its equivalent). Under the new guidance, investments measured at NAV, as a practical expedient for fair value, are excluded from the fair value hierarchy. Removing investments measured using the practical expedient from the fair value hierarchy was intended to eliminate the diversity in practice with respect to the categorization of these investments. The only criterion for categorizing investments in the fair value hierarchy is now the observability of the inputs. The amendment was effective retrospectively for fiscal years (and interim periods within those years) beginning after December 15, 2015. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements. In April 2015, the FASB issued new guidance, simplifying the presentation of debt issuance costs, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The new guidance is effective retrospectively for interim or annual periods beginning after December 15, 2015. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements. In June 2014, the FASB issued new guidance for accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The new guidance is effective for interim and annual periods beginning after December 15, 2015. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements. Future Adoption of New Accounting Pronouncements In March 2016, the FASB issued new guidance simplifying the transition to the equity method of accounting. The amendment eliminates the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investments had been held. The amendment requires that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. Therefore, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. Additionally, the amendment requires that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain (loss) in AOCI at the date the investment becomes qualified for use of the equity method. The amendment is effective for fiscal years (and interim periods within those years) beginning after December 15, 2016 and should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. The amendment is not expected to have a material impact on the Company’s consolidated financial statements. In March 2016, the FASB issued new guidance on improvements to employee share-based payment accounting. The amendment includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements including: income tax effects of share-based payments, minimum statutory tax withholding requirements and forfeitures. The amendment is effective for fiscal years (and interim periods within those years) beginning after December 15, 2016. The provisions will be applied using various transition approaches (prospective, retrospective and modified retrospective). Management is currently evaluating the impact that the adoption of this standard will have on the Company’s consolidated financial statements. In May 2014, the FASB issued new revenue recognition guidance that is intended to improve and converge the financial reporting requirements for revenue from contracts with customers with International Financial Reporting Standards (“IFRS”). The new guidance applies to contracts that deliver goods or services to a customer, except when those contracts are for: insurance, leases, rights and obligations that are in the scope of certain financial instruments (i.e., derivative contracts) and guarantees other than product or service warranties. The new guidance is effective for interim and annual periods, beginning after December 15, 2017, with early adoption permitted for interim and annual periods beginning after December 15, 2016. Management is currently evaluating the impact that adoption of this guidance will have on the Company’s consolidated financial statements. Consolidation of VIEs A VIE must be consolidated by its primary beneficiary, which generally is defined as the party who has a controlling financial interest in the VIE. The Company is deemed to have a controlling financial interest in a VIE if it has (i) the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and (ii) the obligation to absorb losses of the VIE or the right to receive income from the VIE that potentially could be significant to the VIE. For purposes of evaluating (ii) above, fees paid to the Company as a decision maker or service provider are excluded if the fees are compensation for services provided commensurate with the level of effort required to be performed and the arrangement includes only customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length. If the Company has a variable interest in an entity that is determined not to be a VIE, the entity then is evaluated for consolidation under the voting interest entity (“VOE”) model. For limited partnerships and similar entities, the Company is deemed to have a controlling financial interest in a VOE, and would be required to consolidate the entity, if the Company owns a majority of the entity’s kick-out rights through voting limited partnership interests and other limited partners do not hold substantive participating rights (or other rights that would indicate that the Company does not control the entity). For entities other than limited partnerships, the Company is deemed to have a controlling financial interest in a VOE if it owns a majority voting interest in the entity. The analysis performed to identify variable interests held, determine whether entities are VIEs or VOEs, and evaluate whether the Company has a controlling financial interest in such entities require the exercise of judgment and are updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. At March 31, 2016, the Insurance segment’s General Account held approximately $1,202 million of investment assets in the form of equity interests issued by non-corporate legal entities determined under the new guidance to be Variable Interest Entities (“VIEs”), such as limited partnerships and limited liability companies, including hedge funds, private equity funds, and real estate-related funds. As an equity investor, the Insurance segment is considered to have a “variable interest” in each of these VIEs as a result of its participation in the risks and/or rewards these funds were designed to create by their defined portfolio objectives and strategies. Primarily through qualitative assessment, including consideration of related party interests and/or other financial arrangements, if any, the Insurance segment was not identified as primary beneficiary of any of these VIEs, largely due to its inability to direct the activities that most significantly impact their economic performance. Consequently, the Company continues to reflect these equity interests in the consolidated balance sheet as “Other equity investments” and to apply the equity method of accounting for these positions. The net assets of these non-consolidated VIEs are approximately $136,440 million , and the Company’s maximum exposure to loss from its direct involvement with these VIEs is the carrying value of its investment or $1,202 million at March 31, 2016. Except for approximately $585 million of unfunded commitments at March 31, 2016, the Company has no further economic interest in these VIEs in the form of guarantees, derivatives, credit enhancements or similar instruments and obligations. As a result of adopting the new guidance, the Company identified for consolidation under the VIE model three investment funds sponsored by AB. In addition, the Company identified as a VIE an AB private equity fund previously consolidated at December 31, 2015 under the VOE model. The assets and liabilities of these consolidated VIEs are presented separately on the face of the Company’s consolidated balance sheet at March 31, 2016; ownership interests not held by the Company relating to these consolidated VIEs are presented either as redeemable or non-redeemable non-controlling interest, as appropriate. As of March 31, 2016, the net assets of investment products sponsored by AB that are non-consolidated VIEs are approximately $36.6 billion , and the Company’s maximum exposure to loss from its direct involvement with these VIEs is its investment of $6 million at March 31, 2016. The Company has no further commitments to or economic interest in these VIEs.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS Fixed Maturities and Equity Securities The following table provides information relating to fixed maturities and equity securities classified as AFS: Available-for-Sale Securities by Classification Amortized Gross Unrealized Gross Unrealized Fair OTTI (3) (In Millions) March 31, 2016: Fixed Maturity Securities: Public corporate $ 13,064 883 92 $ 13,855 $ — Private corporate 6,714 325 54 6,985 — U.S. Treasury, government and agency 10,226 856 76 11,006 — States and political subdivisions 437 81 1 517 — Foreign governments 343 40 11 372 — Commercial mortgage-backed 541 26 96 471 9 Residential mortgage-backed (1) 582 35 — 617 — Asset-backed (2) 60 9 1 68 3 Redeemable preferred stock 569 61 1 629 — Total Fixed Maturities 32,536 2,316 332 34,520 12 Equity securities 35 — — 35 — Total at March 31, 2016 $ 32,571 $ 2,316 $ 332 $ 34,555 $ 12 December 31, 2015: Fixed Maturity Securities: Public corporate $ 12,890 $ 688 $ 202 $ 13,376 $ — Private corporate 6,818 232 124 6,926 — U.S. Treasury, government and agency 8,800 280 305 8,775 — States and political subdivisions 437 68 1 504 — Foreign governments 397 36 18 415 — Commercial mortgage-backed 591 29 87 533 9 Residential mortgage-backed (1) 608 32 — 640 — Asset-backed (2) 68 10 1 77 3 Redeemable preferred stock 592 57 2 647 — Total Fixed Maturities 31,201 1,432 740 31,893 12 Equity securities 34 — 2 32 — Total at December 31, 2015 $ 31,235 $ 1,432 $ 742 $ 31,925 $ 12 (1) Includes publicly traded agency pass-through securities and collateralized mortgage obligations. (2) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (3) Amounts represent OTTI losses in AOCI, which were not included in earnings (loss) in accordance with current accounting guidance. The contractual maturities of AFS fixed maturities at March 31, 2016 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Available-for-Sale Fixed Maturities Contractual Maturities at March 31, 2016 Amortized Cost Fair Value (In Millions) Due in one year or less $ 1,248 $ 1,259 Due in years two through five 7,527 8,009 Due in years six through ten 10,223 10,562 Due after ten years 11,786 12,905 Subtotal 30,784 32,735 Commercial mortgage-backed securities 541 471 Residential mortgage-backed securities 582 617 Asset-backed securities 60 68 Redeemable preferred stock 569 629 Total $ 32,536 $ 34,520 The following table shows proceeds from sales, gross gains (losses) from sales and OTTI for AFS fixed maturities during the first quarters of 2016 and 2015 : Three Months Ended March 31, 2016 2015 (In Millions) Proceeds from sales $ 389 $ 360 Gross gains on sales $ 19 $ 5 Gross losses on sales $ (21 ) $ (4 ) Total OTTI $ (17 ) $ (2 ) Non-credit losses recognized in OCI — — Credit losses recognized in earnings (loss) $ (17 ) $ (2 ) The following table sets forth the amount of credit loss impairments on fixed maturity securities held by the Company at the dates indicated and the corresponding changes in such amounts. Fixed Maturities - Credit Loss Impairments 2016 2015 (In Millions) Balances, beginning of period $ (198 ) $ (254 ) Previously recognized impairments on securities that matured, paid, prepaid or sold 34 18 Recognized impairments on securities impaired to fair value this period (1) (17 ) — Impairments recognized this period on securities not previously impaired — (2 ) Additional impairments this period on securities previously impaired — — Increases due to passage of time on previously recorded credit losses — — Accretion of previously recognized impairments due to increases in expected cash flows — — Balances at March 31, $ (181 ) $ (238 ) (1) Represents circumstances where the Company determined in the current period that it intends to sell the security or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost. Net unrealized investment gains (losses) on fixed maturities and equity securities classified as AFS are included in the consolidated balance sheets as a component of AOCI. The table below presents these amounts as of the dates indicated: March 31, 2016 December 31, 2015 (In Millions) AFS Securities: Fixed maturities: With OTTI loss $ 9 $ 16 All other 1,975 676 Equity securities — (2 ) Net Unrealized Gains (Losses) $ 1,984 $ 690 Changes in net unrealized investment gains (losses) recognized in AOCI include reclassification adjustments to reflect amounts realized in Net earnings (loss) for the current period that had been part of OCI in earlier periods. The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI, split between amounts related to fixed maturity securities on which an OTTI loss has been recognized and all other amounts: Net Unrealized Gains (Losses) on Fixed Maturities with OTTI Losses Net DAC Policyholders’ Deferred AOCI Gain (In Millions) Balance, January 1, 2016 $ 16 $ — $ (4 ) $ (5 ) $ 7 Net investment gains (losses) arising during the period 10 — — — 10 Reclassification adjustment for OTTI losses: Included in Net earnings (loss) (17 ) — — — (17 ) Excluded from Net earnings (loss) — — — — — Impact of net unrealized investment gains (losses) on: DAC — — — — — Deferred income taxes — — — 1 1 Policyholders’ liabilities — — 4 — 4 Balance, March 31, 2016 $ 9 $ — $ — $ (4 ) $ 5 Balance, January 1, 2015 $ 10 $ — $ — $ (4 ) $ 6 Net investment gains (losses) arising during the period (6 ) — — — (6 ) Reclassification adjustment for OTTI losses: Included in Net earnings (loss) 2 — — — 2 Excluded from Net earnings (loss) — — — — — Impact of net unrealized investment gains (losses) on: DAC — — — — — Deferred income taxes — — — 1 1 Policyholders’ liabilities — — 1 — 1 Balance, March 31, 2015 $ 6 $ — $ 1 $ (3 ) $ 4 All Other Net Unrealized Investment Gains (Losses) in AOCI Net DAC Policyholders’ Deferred AOCI Gain (In Millions) Balance, January 1, 2016 $ 674 $ (82 ) $ (213 ) $ (133 ) $ 246 Net investment gains (losses) arising during the period 1,262 — — — 1,262 Reclassification adjustment for OTTI losses: Included in Net earnings (loss) 16 — — — 16 Excluded from Net earnings (loss) (1) 23 — — — 23 Impact of net unrealized investment gains (losses) on: DAC — 25 — — 25 Deferred income taxes — — — (432 ) (432 ) Policyholders’ liabilities — — (93 ) — (93 ) Balance, March 31, 2016 $ 1,975 $ (57 ) $ (306 ) $ (565 ) $ 1,047 Balance, January 1, 2015 $ 2,231 $ (122 ) $ (368 ) $ (610 ) $ 1,131 Net investment gains (losses) arising during the period 600 — — — 600 Reclassification adjustment for OTTI losses: Included in Net earnings (loss) (4 ) — — — (4 ) Excluded from Net earnings (loss) (1) — — — — — Impact of net unrealized investment gains (losses) on: DAC — (15 ) — — (15 ) Deferred income taxes — — — (184 ) (184 ) Policyholders’ liabilities — — (62 ) — (62 ) Balance, March 31, 2015 $ 2,827 $ (137 ) $ (430 ) $ (794 ) $ 1,466 (1) Represents “transfers out” related to the portion of OTTI losses during the period that were not recognized in earnings (loss) for securities with no prior OTTI loss. The following tables disclose the fair values and gross unrealized losses of the 522 issues at March 31, 2016 and the 810 issues at December 31, 2015 of fixed maturities that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated: Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) March 31, 2016: Fixed Maturity Securities: Public corporate $ 1,001 $ 45 $ 568 $ 47 $ 1,569 $ 92 Private corporate 617 23 450 31 1,067 54 U.S. Treasury, government and agency 808 8 1,380 68 2,188 76 States and political subdivisions — — 19 1 19 1 Foreign governments 45 2 47 9 92 11 Commercial mortgage-backed 50 5 245 91 295 96 Residential mortgage-backed 40 — 28 — 68 — Asset-backed 1 — 14 1 15 1 Redeemable preferred stock 54 — 12 1 66 1 Total $ 2,616 $ 83 $ 2,763 $ 249 $ 5,379 $ 332 December 31, 2015: Fixed Maturity Securities: Public corporate $ 3,091 $ 129 $ 359 $ 73 $ 3,450 $ 202 Private corporate 1,926 102 184 22 2,110 124 U.S. Treasury, government and agency 3,538 305 — — 3,538 305 States and political subdivisions 19 1 — — 19 1 Foreign governments 73 7 39 11 112 18 Commercial mortgage-backed 67 2 261 85 328 87 Residential mortgage-backed 11 — 29 — 40 — Asset-backed 11 — 17 1 28 1 Redeemable preferred stock 43 — 40 2 83 2 Total $ 8,779 $ 546 $ 929 $ 194 $ 9,708 $ 740 The Company’s investments in fixed maturity securities do not include concentrations of credit risk of any single issuer greater than 10% of the consolidated equity of AXA Equitable, other than securities of the U.S. government, U.S. government agencies, and certain securities guaranteed by the U.S. government. The Company maintains a diversified portfolio of corporate securities across industries and issuers and does not have exposure to any single issuer in excess of 0.3 % of total investments. The largest exposures to a single issuer of corporate securities held at March 31, 2016 and December 31, 2015 were $ 160 million and $157 million , respectively. Corporate high yield securities, consisting primarily of public high yield bonds, are classified as other than investment grade by the various rating agencies, i.e., a rating below Baa3/BBB- or the NAIC designation of 3 (medium grade), 4 or 5 (below investment grade) or 6 (in or near default). At March 31, 2016 and December 31, 2015 , respectively, approximately $ 1,633 million and $1,310 million , or 5.0 % and 4.2% , of the $32,536 million and $31,201 million aggregate amortized cost of fixed maturities held by the Company were considered to be other than investment grade. These securities had net unrealized losses of $ 109 million and $97 million at March 31, 2016 and December 31, 2015 , respectively. At March 31, 2016 and December 31, 2015 , respectively, the $ 249 million and $194 million of gross unrealized losses of twelve months or more were concentrated in commercial mortgage-backed, corporates and U.S. Treasury, government and agency securities. In accordance with the policy described in Note 2, the Company concluded that an adjustment to earnings for OTTI for these securities was not warranted at either March 31, 2016 or 2015 . At March 31, 2016 and December 31, 2015 , the Company did not intend to sell the securities nor will it likely be required to dispose of the securities before the anticipated recovery of their remaining amortized cost basis. The Company does not originate, purchase or warehouse residential mortgages and is not in the mortgage servicing business. The Company’s fixed maturity investment portfolio includes RMBS backed by subprime and Alt-A residential mortgages, comprised of loans made by banks or mortgage lenders to residential borrowers with lower credit ratings. The criteria used to categorize such subprime borrowers include FICO scores, interest rates charged, debt-to-income ratios and loan-to-value ratios. Alt-A residential mortgages are mortgage loans where the risk profile falls between prime and subprime; borrowers typically have clean credit histories but the mortgage loan has an increased risk profile due to higher loan-to-value and debt-to-income ratios and/or inadequate documentation of the borrowers’ income. At March 31, 2016 and December 31, 2015 , respectively, the Company owned $ 7 million and $7 million in RMBS backed by subprime residential mortgage loans and $ 6 million and $6 million in RMBS backed by Alt-A residential mortgage loans. RMBS backed by subprime and Alt-A residential mortgages are fixed income investments supporting General Account liabilities. At March 31, 2016 , the carrying value of fixed maturities that were non-income producing for the twelve months preceding that date was $ 5 million. For the first quarters of 2016 and 2015 , investment income is shown net of investment expenses of $ 16 million and $11 million , respectively. At March 31, 2016 and December 31, 2015 , respectively, the amortized cost of the Company’s trading account securities was $ 7,086 million and $6,866 million with respective fair values of $ 7,124 million and $6,805 million . Also at March 31, 2016 and December 31, 2015 , respectively, Other equity investments included the General Account’s investment in Separate Accounts which had carrying values of $ 82 million and $82 million and costs of $ 72 million and $72 million as well as other equity securities with carrying values of $ 35 million and $32 million and costs of $ 35 million and $34 million . Net unrealized and realized gains (losses) on trading account equity securities are included in Net investment income (loss) in the consolidated statements of earnings (loss). The table below shows a breakdown of Net investment income from trading account securities during the first quarters of 2016 and 2015 : Net investment income (loss) from trading securities March 31, 2016 2015 Net investment gains (losses) recognized during the period on securities held at the end of the period $ 64 $ 33 Net investment gains (losses) recognized on securities sold during the period (6 ) — Unrealized and realized gains (losses) on trading securities arising during the period 58 33 Interest and dividend income from trading securities 19 2 Net investment income (loss) from trading securities $ 77 $ 35 Mortgage Loans Mortgage loans on real estate are placed on nonaccrual status once management determines the collection of accrued interest is doubtful. Once mortgage loans on real estate are classified as nonaccrual loans, interest income is recognized under the cash basis of accounting and the resumption of the interest accrual would commence only after all past due interest has been collected or the mortgage loan on real estate has been restructured to where the collection of interest is considered likely. At March 31, 2016 and December 31, 2015 , the carrying values of commercial mortgage loans on real estate that had been classified as nonaccrual loans were $ 39 million and $72 million , respectively. Troubled Debt Restructurings The TDR mortgage loan shown in the table below has been modified four times since 2011. The modifications were to extend the maturity from its original maturity of November 5, 2014 to December 5, 2016 and to extend interest only payments through maturity. In November 2015, the recorded investment was reduced by $45 million in conjunction with the sale of the majority of the underlying collateral and $32 million from a charge-off. The remaining $16 million mortgage loan balance reflects the value of the remaining underlying collateral and cash held in escrow, supporting the mortgage loan. Since the fair market value of the underlying real estate and cash held in escrow collateral is the primary factor in determining the allowance for credit losses, modifications of loan terms typically have no direct impact on the allowance for credit losses, and therefore, no impact on the financial statements. Troubled Debt Restructuring - Modifications March 31, 2016 Number of Loans Outstanding Recorded Investment Pre-Modification Post - Modification (In Millions) Commercial mortgage loans 1 16 16 There were no default payments on the above loan during the first quarter of 2016 . Valuation Allowances for Mortgage Loans: Allowance for credit losses for commercial mortgage loans for the first quarters of 2016 and 2015 was as follows: 2016 2015 Allowance for credit losses: (In Millions) Beginning balance, January 1, $ 6 $ 37 Charge-offs — — Recoveries — — Provision 1 — Ending balance, March 31, $ 7 $ 37 Ending balance, March 31, Individually Evaluated for Impairment $ 7 $ 37 There were no allowances for credit losses for agricultural mortgage loans for the first quarters of 2016 and 2015 . The values used in these ratio calculations were developed as part of the periodic review of the commercial and agricultural mortgage loan portfolio, which includes an evaluation of the underlying collateral value. The following tables provide information relating to the loan-to-value and debt service coverage ratio for commercial and agricultural mortgage loans at March 31, 2016 and December 31, 2015 , before adjustments for valuation allowance. Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios March 31, 2016 Debt Service Coverage Ratio Loan-to-Value Ratio: (2) Greater than 2.0x 1.8x to 2.0x 1.5x to 1.8x 1.2x to 1.5x 1.0x to 1.2x Less than 1.0x Total Mortgage Loans (In Millions) Commercial Mortgage Loans (1) 0% - 50% $ 715 $ 45 $ 57 $ 12 $ 24 $ — $ 853 50% - 70% 1,713 396 739 821 77 — 3,746 70% - 90% 118 46 206 194 88 46 698 90% plus 62 — — 16 — — 78 Total Commercial Mortgage Loans $ 2,608 $ 487 $ 1,002 $ 1,043 $ 189 $ 46 $ 5,375 Agricultural Mortgage Loans (1) 0% - 50% $ 218 $ 130 $ 269 $ 430 $ 248 $ 45 $ 1,340 50% - 70% 142 70 187 318 224 41 982 70% - 90% — — 2 4 — — 6 90% plus — — — — — — — Total Agricultural Mortgage Loans $ 360 $ 200 $ 458 $ 752 $ 472 $ 86 $ 2,328 Total Mortgage Loans (1) 0% - 50% $ 933 $ 175 $ 326 $ 442 $ 272 $ 45 $ 2,193 50% - 70% 1,855 466 926 1,139 301 41 4,728 70% - 90% 118 46 208 198 88 46 704 90% plus 62 — — 16 — — 78 Total Mortgage Loans $ 2,968 $ 687 $ 1,460 $ 1,795 $ 661 $ 132 $ 7,703 (1) The debt service coverage ratio is calculated using the most recently reported net operating income results from property operations divided by annual debt service. (2) The loan-to-value ratio is derived from current loan balance divided by the fair market value of the property. The fair market value of the underlying commercial properties is updated annually. Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios December 31, 2015 Debt Service Coverage Ratio Loan-to-Value Ratio: (2) Greater than 2.0x 1.8x to 2.0x 1.5x to 1.8x 1.2x to1.5x 1.0x to 1.2x Less than 1.0x Total Mortgage Loans (In Millions) Commercial Mortgage Loans (1) 0% - 50% $ 533 $ — $ 102 $ 12 $ 24 $ — $ 671 50% - 70% 1,392 353 741 853 77 — 3,416 70% - 90% 141 — 206 134 124 46 651 90% plus 63 — — 46 — — 109 Total Commercial Mortgage Loans $ 2,129 $ 353 $ 1,049 $ 1,045 $ 225 $ 46 $ 4,847 Agricultural Mortgage Loans (1) 0% - 50% $ 204 $ 116 $ 277 $ 432 $ 256 $ 51 $ 1,336 50% - 70% 146 80 192 298 225 47 988 70% - 90% — — 2 4 — — 6 90% plus — — — — — — — Total Agricultural Mortgage Loans $ 350 $ 196 $ 471 $ 734 $ 481 $ 98 $ 2,330 Total Mortgage Loans (1) 0% - 50% $ 737 $ 116 $ 379 $ 444 $ 280 $ 51 $ 2,007 50% - 70% 1,538 433 933 1,151 302 47 4,404 70% - 90% 141 — 208 138 124 46 657 90% plus 63 — — 46 — — 109 Total Mortgage Loans $ 2,479 $ 549 $ 1,520 $ 1,779 $ 706 $ 144 $ 7,177 (1) The debt service coverage ratio is calculated using the most recently reported net operating income results from property operations divided by annual debt service. (2) The loan-to-value ratio is derived from current loan balance divided by the fair market value of the property. The fair market value of the underlying commercial properties is updated annually. The following table provides information relating to the aging analysis of past due mortgage loans at March 31, 2016 and December 31, 2015 , respectively, before adjustments for valuation allowance. Age Analysis of Past Due Mortgage Loans 30-59 Days 60-89 Days 90 Days or > Total Current Total Financing Receivables Recorded Investment > 90 Days and Accruing (In Millions) March 31, 2016 Commercial $ — $ — $ — $ — $ 5,375 $ 5,375 $ — Agricultural 2 44 2 48 2,280 2,328 2 Total Mortgage Loans $ 2 $ 44 $ 2 $ 48 $ 7,655 $ 7,703 $ 2 December 31, 2015 Commercial $ — $ — $ 30 $ 30 $ 4,817 $ 4,847 $ — Agricultural 12 7 4 23 2,307 2,330 4 Total Mortgage Loans $ 12 $ 7 $ 34 $ 53 $ 7,124 $ 7,177 $ 4 The following table provides information regarding impaired mortgage loans at March 31, 2016 and December 31, 2015 , respectively. Impaired Mortgage Loans Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment (1) Interest Income Recognized (In Millions) March 31, 2016: With no related allowance recorded: Commercial mortgage loans - other $ 16 $ 16 $ — $ 31 $ — Agricultural mortgage loans — — — — — Total $ 16 $ 16 $ — $ 31 $ — With related allowance recorded: Commercial mortgage loans - other $ 61 $ 61 $ (7 ) $ 62 $ 1 Agricultural mortgage loans — — — — — Total $ 61 $ 61 $ (7 ) $ 62 $ 1 December 31, 2015: With no related allowance recorded: Commercial mortgage loans - other $ 46 $ 46 $ — $ 15 $ — Agricultural mortgage loans — — — — — Total $ 46 $ 46 $ — $ 15 $ — With related allowance recorded: Commercial mortgage loans - other $ 63 $ 63 $ (6 ) $ 137 $ 4 Agricultural mortgage loans — — — — — Total $ 63 $ 63 $ (6 ) $ 137 $ 4 (1) Represents a two-quarter average of recorded amortized cost. Derivatives and Offsetting Assets and Liabilities The Company uses derivatives as part of its overall asset/liability risk management primarily to reduce exposures to equity market and interest rate risks. Derivative hedging strategies are designed to reduce these risks from an economic perspective and are all executed within the framework of a “Derivative Use Plan” approved by the NYDFS. Operation of these hedging programs is based on models involving numerous estimates and assumptions, including, among others, mortality, lapse, surrender and withdrawal rates, election rates, fund performance, market volatility and interest rates. A wide range of derivative contracts are used in these hedging programs, including exchange traded equity, currency and interest rate futures contracts, total return and/or other equity swaps, interest rate swap and floor contracts, swaptions, variance swaps, equity options as well as repo transactions, that collectively are managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in capital markets. Derivatives utilized to hedge exposure to Variable Annuities with Guarantee Features The Company has issued and continues to offer certain variable annuity products with GMDB, GMIB and GIB features. The Company had previously issued certain variable annuity products with GWBL, GMWB and GMAB features (collectively, “GWBL and Other Features”). The risk associated with the GMDB feature is that under-performance of the financial markets could result in GMDB benefits, in the event of death, being higher than what accumulated policyholders’ account balances would support. The risk associated with the GMIB feature is that under-performance of the financial markets could result in the present value of GMIB benefits, in the event of annuitization, being higher than what accumulated policyholders’ account balances would support, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. The risk associated with the GIB and GWBL and Other Features is that under-performance of the financial markets could result in the GIB and GWBL and Other Features’ benefits being higher than what accumulated policyholders’ account balances would support. For GMDB, GMIB, GIB and GWBL and Other Features, the Company retains certain risks including basis, credit spread and some volatility risk and risk associated with actual versus expected assumptions for mortality, lapse and surrender, withdrawal and contractholder election rates, among other things. The derivative contracts are managed to correlate with changes in the value of the GMDB, GMIB, GIB and GWBL and Other Features that result from financial markets movements. A portion of exposure to realized equity volatility is hedged using equity options and variance swaps and a portion of exposure to credit risk is hedged using total return swaps on fixed income indices. Additionally, the Company is party to total return swaps for which the reference U.S. Treasury securities are contemporaneously purchased from the market and sold to the swap counterparty. As these transactions result in a transfer of control of the U.S. Treasury securities to the swap counterparty, the Company derecognizes these securities with consequent gain or loss from the sale. The Company has also purchased reinsurance contracts to mitigate the risks associated with GMDB features and the impact of potential market fluctuations on future policyholder elections of GMIB features contained in certain annuity contracts issued by the Company. The Company has in place a hedge program utilizing interest rate swaps to partially protect the overall profitability of future variable annuity sales against declining interest rates. Derivatives utilized to hedge crediting rate exposure on SCS, SIO, MSO and IUL products/investment options The Company hedges crediting rates in the SCS variable annuity, SIO in the EQUI-VEST ® variable annuity series MSO in the variable life insurance products and IUL insurance products. These products permit the contract owner to participate in the performance of an index, ETF or commodity price movement up to a cap for a set period of time. They also contain a protection feature, in which the Company will absorb, up to a certain percentage, the loss of value in an index, ETF or commodity price, which varies by product segment. In order to support the returns associated with these features, the Company enters into derivative contracts whose payouts, in combination with fixed income investments, emulate those of the index, ETF or commodity price, subject to caps and buffers. Derivatives utilized to hedge risks associated with interest margins on Interest Sensitive Life and Annuity Contracts Margins or “spreads” on interest-sensitive life insurance and annuity contracts are affected by interest rate fluctuations as the yield on portfolio investments, primarily fixed maturities, is intended to support required payments under these contracts, including interest rates credited to their policy and contract holders. From time to time the Company uses interest rate swaptions and other instruments to reduce the risk associated with minimum guarantees on these interest-sensitive contracts. Derivatives utilized to hedge equity market risks associated with the General Account’s seed money investments in Separate Accounts, retail mutual funds and Separate Account fee revenue fluctuations The Company’s General Account seed money investments in Separate Account equity funds and retail mutual funds exposes the Company to market risk, including equity market risk, which is partially hedged through equity-index futures contracts to minimize such risk. Periodically the Company enters into futures on equity indices to mitigate the impact on net earnings from Separate Account fee revenue fluctuations due to movements in the equity markets. These positions partially cover fees expected to be earned through the year from the Company’s Separate Account products. Derivatives utilized for General Account Investment Portfolio Beginning in the second quarter of 2013, the Company implemented a strategy in its General Account investment portfolio to replicate the credit exposure of fixed maturity securities otherwise permissible under its investment guidelines through the sale of CDSs. Under the terms of these swaps, the Company receives quarterly fixed premiums that, together with any initial amount paid or received at trade inception, replicate the credit spread otherwise currently obtainable by purchasing the referenced entity’s bonds of similar maturity. These credit derivatives have remaining terms of five years or less and are recorded at fair value with changes in fair value, including the yield component that emerges from initial amounts paid or received, reported in Net investment income (loss). The Company manages its credit exposure taking into consideration both cash and derivatives based positions and selects the reference entities in its replicated credit exposures in a manner consistent with its selection of fixed maturities. In addition, the Company has transacted the sale of CDSs exclusively in single name reference entities of investment grade credit quality and with counterparties subject to collateral posting requirements. If there is an event of default by the reference entity or other such credit event as defined under the terms of the swap contract, the Company is obligated to perform under the credit derivative and, at the counterparty’s option, either pay the referenced amount of the contract less an auction-determined recovery amount or pay the referenced amount of the contract and receive in return the defaulted or similar security of the reference entity for recovery by sale at the contract settlement auction. To date, there have been no events of default or circumstances indicative of a deterioration in the credit quality of the named referenced entities to require or suggest that the Company will have to perform under these CDSs. The maximum potential amount of future payments the Company could be required to make under these credit derivatives is limited to the par value of the referenced securities which is the dollar-equivalent of the derivative notional amount. The Standard North American CDS Contract (“SNAC”) under which the Company executes these CDS sales transactions does not contain recourse provisions for recovery of amounts paid under the credit derivative. Periodically, the Company purchases TIPS and other sovereign inflation bonds as General Account investments and enters into asset swaps, to result in payment of the variable principal at maturity and semi-annual coupons of the bonds to the swap counterparty (pay variable) in return for fixed amounts (receive fixed). These asset swaps, when considered in combination with the bonds, together result in a net position that is intended to replicate a dollar-denominated fixed-coupon cash bond with a yield higher than a term-equivalent U.S. Treasury bond. The Company implemented a strategy to hedge a portion of the credit exposure in its General Account investment portfolio by buying protection through a swap. These are swaps on the “super senior tranche” of the investment grade CDX index. Under the terms of these swaps, the Company pays quarterly fixed premiums that, together with any initial amount paid or received at trade inception, serve as premiums paid to hedge the risk arising from multiple defaults of bonds referenced in the CDX index. These credit derivatives have terms of five years or less and are recorded at fair value with changes in fair value, including the yield component that emerges from initial amounts paid or received, reported in Net investment income (loss) from derivative instruments. The tables below present quantitative disclosures about the Company’s derivative instruments, including those embedded in other contracts required to be accounted for as derivative instruments. Derivative Instruments by Category At March 31, 2016 Gains (Losses) Fair Value Notional Amount Asset Derivatives Liability Derivatives (In Millions) Freestanding derivatives: Equity contracts: (1) Futures $ 7,530 $ — $ 3 $ (86 ) Swaps 1,577 1 84 (9 ) Options 7,992 1,102 683 34 Interest rate contracts: (1) Floors 1,500 50 — 4 Swaps 15,284 608 57 851 Futures 8,626 — — (46 ) Credit contracts: (1) Credit default swaps 2,470 15 26 1 Other freestanding contracts: (1) Foreign currency contracts 198 5 6 (1 ) Net investment income (loss) 748 Embedded derivatives: GMIB reinsurance contracts — 12,207 — 1,637 GIB and GWBL and Other Features (2) — — 265 (81 ) SCS, SIO, MSO and IUL indexed features (3) — — 336 (33 ) Total $ 45,177 $ 13,988 $ 1,460 $ 2,271 (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (3) SCS and SIO indexed features are reported in Policyholders’ account balances; MSO and IUL indexed features are reported in Future policyholders’ benefits and other policyholders’ liabilities in the consolidated balance sheets. At December 31, 2015 Gains (Losses) Fair Value Notional Amount Asset Derivatives Liability Derivatives (In Millions) Freestanding derivatives: Equity contracts: (1) Futures $ 7,089 $ 2 $ 3 $ (185 ) Swaps 1,359 8 21 (57 ) Options 7,358 1,042 652 81 Int

CLOSED BLOCK

CLOSED BLOCK	3 Months Ended
	Mar. 31, 2016
Closed Block Disclosure [Abstract]
Closed Block	CLOSED BLOCK The excess of Closed Block liabilities over Closed Block assets (adjusted to exclude the impact of related amounts in AOCI) represents the expected maximum future post-tax earnings from the Closed Block that would be recognized in income from continuing operations over the period the policies and contracts in the Closed Block remain in force. As of January 1, 2001, AXA Equitable has developed an actuarial calculation of the expected timing of AXA Equitable’s Closed Block’s earnings. If the actual cumulative earnings from the Closed Block are greater than the expected cumulative earnings, only the expected earnings will be recognized in net income. Actual cumulative earnings in excess of expected cumulative earnings at any point in time are recorded as a policyholder dividend obligation because they will ultimately be paid to Closed Block policyholders as an additional policyholder dividend unless offset by future performance that is less favorable than originally expected. If a policyholder dividend obligation has been previously established and the actual Closed Block earnings in a subsequent period are less than the expected earnings for that period, the policyholder dividend obligation would be reduced (but not below zero). If, over the period the policies and contracts in the Closed Block remain in force, the actual cumulative earnings of the Closed Block are less than the expected cumulative earnings, only actual earnings would be recognized in income from continuing operations. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from assets outside the Closed Block. Many expenses related to Closed Block operations, including amortization of DAC, are charged to operations outside of the Closed Block; accordingly, net revenues of the Closed Block do not represent the actual profitability of the Closed Block operations. Operating costs and expenses outside of the Closed Block are, therefore, disproportionate to the business outside of the Closed Block. Summarized financial information for the Closed Block follows: March 31, December 31, (In Millions) CLOSED BLOCK LIABILITIES: Future policy benefits, policyholders’ account balances and other $ 7,296 $ 7,363 Policyholder dividend obligation 160 81 Other liabilities 71 100 Total Closed Block liabilities 7,527 7,544 ASSETS DESIGNATED TO THE CLOSED BLOCK: Fixed maturities, available for sale, at fair value (amortized cost of $4,216 and $4,426) 4,466 4,599 Mortgage loans on real estate 1,738 1,575 Policy loans 872 881 Cash and other invested assets 101 49 Other assets 177 258 Total assets designated to the Closed Block 7,354 7,362 Excess of Closed Block liabilities over assets designated to the Closed Block 173 182 Amounts included in accumulated other comprehensive income (loss): Net unrealized investment gains (losses), net of deferred income tax (expense) benefit of $(35) and $(36) and policyholder dividend obligation of $(160) and $(81) 65 67 Maximum Future Earnings To Be Recognized From Closed Block Assets and Liabilities $ 238 $ 249 Closed Block revenues and expenses were as follows: Three Months Ended March 31, 2016 2015 (In Millions) REVENUES: Premiums and other income $ 63 $ 69 Net investment income (loss) 89 92 Net investment gains (losses) 1 1 Total revenues 153 162 BENEFITS AND OTHER DEDUCTIONS: Policyholders’ benefits and dividends 136 153 Other operating costs and expenses — — Total benefits and other deductions 136 153 Net revenues (loss) before income taxes 17 9 Income tax (expense) benefit (6 ) (3 ) Net Revenues (Losses) $ 11 $ 6 Reconciliation of the policyholder dividend obligation follows: Three Months Ended March 31, 2016 2015 (In Millions) Balances, beginning of year $ 81 $ 201 Unrealized investment gains (losses), net of DAC 79 29 Balances, End of Period $ 160 $ 230

GMDB, GMIB, GIB, GWBL AND OTHER

GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES	3 Months Ended
	Mar. 31, 2016
Variable Annuity Contracts-GMDB GMIB And GWBL [Abstract]
GMDB, GMIB, GWBL and No Lapse Guarantee Features	GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES A) Variable Annuity Contracts – GMDB, GMIB, GIB and GWBL and Other Features The Company has certain variable annuity contracts with GMDB, GMIB, GIB and GWBL and other features in-force that guarantee one of the following: • Return of Premium: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals); • Ratchet: the benefit is the greatest of current account value, premiums paid (adjusted for withdrawals), or the highest account value on any anniversary up to contractually specified ages (adjusted for withdrawals); • Roll-Up: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals) accumulated at contractually specified interest rates up to specified ages; • Combo: the benefit is the greater of the ratchet benefit or the roll-up benefit, which may include either a five year or an annual reset; or • Withdrawal: the withdrawal is guaranteed up to a maximum amount per year for life. The following table summarizes the GMDB and GMIB liabilities, before reinsurance ceded, reflected in the General Account in future policy benefits and other policyholders’ liabilities: GMDB GMIB Total (In Millions) Balance at January 1, 2016 $ 2,986 $ 5,297 $ 8,283 Paid guarantee benefits (97 ) (188 ) (285 ) Other changes in reserve 195 509 704 Balance at March 31, 2016 $ 3,084 $ 5,618 $ 8,702 Balance at January 1, 2015 $ 1,729 $ 5,644 $ 7,373 Paid guarantee benefits (65 ) (14 ) (79 ) Other changes in reserve 97 311 408 Balance at March 31, 2015 $ 1,761 $ 5,941 $ 7,702 Related GMDB reinsurance ceded amounts were: Three Months Ended March 31, 2016 2015 (In Millions) Balance, beginning of year $ 1,430 $ 832 Paid guarantee benefits (47 ) (30 ) Other changes in reserve 116 46 Balance, End of Period $ 1,499 $ 848 The GMIB reinsurance contracts are considered derivatives and are reported at fair value. The March 31, 2016 values for variable annuity contracts in-force on such date with GMDB and GMIB features are presented in the following table. For contracts with the GMDB feature, the net amount at risk in the event of death is the amount by which the GMDB benefits exceed related account values. For contracts with the GMIB feature, the net amount at risk in the event of annuitization is the amount by which the present value of the GMIB benefits exceeds related account values, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. Since variable annuity contracts with GMDB guarantees may also offer GMIB guarantees in the same contract, the GMDB and GMIB amounts listed are not mutually exclusive: Return of Premium Ratchet Roll-Up Combo Total (Dollars In Millions) GMDB: Account values invested in: General Account $ 13,178 $ 129 $ 77 $ 240 $ 13,624 Separate Accounts $ 38,391 $ 8,542 $ 3,396 $ 33,344 $ 83,673 Net amount at risk, gross $ 397 $ 423 $ 2,411 $ 16,347 $ 19,578 Net amount at risk, net of amounts reinsured $ 397 $ 301 $ 1,637 $ 7,089 $ 9,424 Average attained age of contractholders 51.2 65.5 71.9 66.6 55.0 Percentage of contractholders over age 70 9.1 % 35.7 % 58.6 % 38.8 % 16.7 % Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% GMIB: Account values invested in: General Account N/A N/A $ 37 $ 344 $ 381 Separate Accounts N/A N/A $ 16,066 $ 39,714 $ 55,780 Net amount at risk, gross N/A N/A $ 1,332 $ 8,157 $ 9,489 Net amount at risk, net of amounts reinsured N/A N/A $ 397 $ 2,118 $ 2,515 Weighted average years remaining until annuitization N/A N/A 1.4 1.7 1.7 Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% The liability for SCS, SIO, MSO, IUL, GIB and GWBL and Other Features, not included above, was $ 601 million and $494 million at March 31, 2016 and December 31, 2015 , respectively, which are accounted for as embedded derivatives. The liability for GIB, GWBL and Other Features reflects the present value of expected future payments (benefits) less the fees attributable to these features over a range of market consistent economic scenarios. The liability for SCS, SIO, MSO and IUL reflects the present value of expected future payments assuming the segments are held to maturity. • In-force management. The Company continues to proactively manage its in-force business. Beginning in 2012, the Company initiated several programs to purchase from certain contractholders the GMDB and GMIB riders contained in their Accumulator® contracts. Most recently in December 2015, the Company initiated a program to give contractholders an option to elect a full buyout of their rider or a new partial ( 50% ) buyout of their rider. The Company believes that the buyback programs are mutually beneficial to both the Company and contractholders who no longer need or want the GMDB or GMIB rider. To reflect the actual payments and reinsurance credit received from the December 2015 buy back that completed in March 2016 the Company recognized a $4 million increase to Net earnings. For additional information, see “Accounting for VA Guarantee Features” in Note 2. B) Separate Account Investments by Investment Category Underlying GMDB and GMIB Features The total account values of variable annuity contracts with GMDB and GMIB features include amounts allocated to the guaranteed interest option, which is part of the General Account and variable investment options that invest through Separate Accounts in variable insurance trusts. The following table presents the aggregate fair value of assets, by major investment category, held by Separate Accounts that support variable annuity contracts with GMDB and GMIB benefits and guarantees. The investment performance of the assets impacts the related account values and, consequently, the net amount of risk associated with the GMDB and GMIB benefits and guarantees. Since variable annuity contracts with GMDB benefits and guarantees may also offer GMIB benefits and guarantees in each contract, the GMDB and GMIB amounts listed are not mutually exclusive: Investment in Variable Insurance Trust Mutual Funds March 31, December 31, (In Millions) GMDB: Equity $ 65,761 $ 66,230 Fixed income 2,708 2,686 Balanced 14,822 15,350 Other 382 374 Total $ 83,673 $ 84,640 GMIB: Equity $ 43,452 $ 43,874 Fixed income 1,818 1,819 Balanced 10,344 10,696 Other 166 170 Total $ 55,780 $ 56,559 C) Hedging Programs for GMDB and GMIB Features Beginning in 2003, AXA Equitable established a program intended to hedge certain risks associated first with the GMDB feature and, beginning in 2004, with the GMIB feature of the Accumulator ® series of variable annuity products. The program has also been extended to cover other guaranteed benefits as they have been made available. This program utilizes derivative contracts, such as exchange-traded equity, currency, and interest rate futures contracts, total return and/or equity swaps, interest rate swap and floor contracts, swaptions, variance swaps as well as equity options, that collectively are managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in the equity and fixed income markets. At the present time, this program hedges certain economic risks on products sold, to the extent such risks are not reinsured. At March 31, 2016 , the total account value and net amount at risk of the hedged variable annuity contracts were $50,040 million and $8,214 million, respectively, with the GMDB feature and $33,000 million and $2,114 million, respectively, with the GMIB and GIB feature. These programs do not qualify for hedge accounting treatment. Therefore, gains (losses) on the derivatives contracts used in these programs, including current period changes in fair value, are recognized in net investment income (loss) in the period in which they occur, and may contribute to earnings (loss) volatility. D) Variable and Interest-Sensitive Life Insurance Policies - No Lapse Guarantee The no lapse guarantee feature contained in variable and interest-sensitive life insurance policies keeps them in force in situations where the policy value is not sufficient to cover monthly charges then due. The no lapse guarantee remains in effect so long as the policy meets a contractually specified premium funding test and certain other requirements. The following table summarizes the no lapse guarantee liabilities reflected in the Balance Sheet in Future policy benefits and other policyholders’ liabilities and the related reinsurance ceded: Direct Liability Reinsurance Ceded Net (In Millions) Balance at January 1, 2016 $ 1,084 $ (539 ) $ 545 Other changes in reserves 50 (22 ) 28 Balance at March 31, 2016 $ 1,134 $ (561 ) $ 573 Balance at January 1, 2015 $ 964 $ (555 ) $ 409 Other changes in reserves 46 (23 ) 23 Balance at March 31, 2015 $ 1,010 $ (578 ) $ 432

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	FAIR VALUE DISCLOSURES Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The accounting guidance established a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure the fair value of instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued also are considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness. Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair value measurements also are required on a non-recurring basis for certain assets, including goodwill, mortgage loans on real estate, equity real estate held for production of income, and equity real estate held for sale, only when an OTTI or other event occurs. When such fair value measurements are recorded, they must be classified and disclosed within the fair value hierarchy. At March 31, 2016 and December 31, 2015 , no assets were required to be measured at fair value on a non-recurring basis. Fair Value Measurements at March 31, 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ — $ 20,342 $ 498 $ 20,840 U.S. Treasury, government and agency — 11,006 — 11,006 States and political subdivisions — 472 45 517 Foreign governments — 372 — 372 Commercial mortgage-backed — 23 448 471 Residential mortgage-backed (1) — 617 — 617 Asset-backed (2) — 31 37 68 Redeemable preferred stock 237 392 — 629 Subtotal 237 33,255 1,028 34,520 Other equity investments 85 — 8 93 Assets of consolidated VIEs: Investments 77 151 15 243 Other asset - derivatives — 66 — 66 Trading securities 559 6,563 2 7,124 Other invested assets: Short-term investments — 463 — 463 Swaps — 468 — 468 Credit Default Swaps — (11 ) — (11 ) Futures (3 ) — — (3 ) Options — 419 — 419 Floors — 50 — 50 Margin (5 ) — — (5 ) Currency Contracts — (1 ) — (1 ) Subtotal (8 ) 1,388 — 1,380 Cash equivalents 2,463 — — 2,463 Segregated securities — 724 — 724 GMIB reinsurance contract asset — — 12,207 12,207 Separate Accounts’ assets 103,537 2,841 323 106,701 Total Assets $ 106,950 $ 44,988 $ 13,583 $ 165,521 Liabilities GWBL and Other Features’ liability $ — $ — $ 265 $ 265 SCS, SIO, MSO and IUL indexed features’ liability — 336 — 336 Liabilities of consolidated VIEs - Derivatives — 66 — 66 Contingent payment arrangements 31 31 Total Liabilities $ — $ 402 $ 296 $ 698 (1) Includes publicly traded agency pass-through securities and collateralized obligations. (2) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. Fair Value Measurements at December 31, 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ — $ 19,882 $ 420 $ 20,302 U.S. Treasury, government and agency — 8,775 — 8,775 States and political subdivisions — 459 45 504 Foreign governments — 414 1 415 Commercial mortgage-backed — 30 503 533 Residential mortgage-backed (1) — 640 — 640 Asset-backed (2) — 37 40 77 Redeemable preferred stock 258 389 — 647 Subtotal 258 30,626 1,009 31,893 Other equity investments 97 — 49 146 Trading securities 654 6,151 — 6,805 Other invested assets: Short-term investments — 369 — 369 Swaps — 230 — 230 Credit Default Swaps — (22 ) — (22 ) Futures (1 ) — — (1 ) Options — 390 — 390 Floors — 61 — 61 Currency Contracts — 1 — 1 Subtotal (1 ) 1,029 — 1,028 Cash equivalents 2,150 — — 2,150 Segregated securities — 565 — 565 GMIB reinsurance contract asset — — 10,570 10,570 Separate Accounts’ assets 104,058 2,964 313 107,335 Total Assets $ 107,216 $ 41,335 $ 11,941 $ 160,492 Liabilities: GWBL and Other Features’ liability $ — $ — $ 184 $ 184 SCS, SIO, MSO and IUL indexed features’ liability — 310 — 310 Contingent payment arrangements — — 31 31 Total Liabilities $ — $ 310 $ 215 $ 525 (1) Includes publicly traded agency pass-through securities and collateralized obligations. (2) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. At March 31, 2016 and December 31, 2015 , respectively, the fair value of public fixed maturities is approximately $26,837 million and $24,216 million or approximately 17.6% and 16.2% of the Company’s total assets measured at fair value on a recurring basis (excluding GMIB reinsurance contracts and segregated securities measured at fair value on a recurring basis). The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent valuation service providers and for which the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Although each security generally is priced by multiple independent valuation service providers, the Company ultimately uses the price received from the independent valuation service provider highest in the vendor hierarchy based on the respective asset type, with limited exception. To validate reasonableness, prices also are internally reviewed by those with relevant expertise through comparison with directly observed recent market trades. Consistent with the fair value hierarchy, public fixed maturity securities validated in this manner generally are reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. If the pricing information received from independent valuation service providers is not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process in accordance with the terms of the respective independent valuation service provider agreement. If as a result it is determined that the independent valuation service provider is able to reprice the security in a manner agreed as more consistent with current market observations, the security remains within Level 2. Alternatively, a Level 3 classification may result if the pricing information then is sourced from another vendor, non-binding broker quotes, or internally-developed valuations for which the Company’s own assumptions about market-participant inputs would be used in pricing the security. At March 31, 2016 and December 31, 2015 , respectively, the fair value of private fixed maturities is approximately $7,683 million and $7,677 million or approximately 5.0% and 5.4% of the Company’s total assets measured at fair value on a recurring basis. The fair values of the Company’s private fixed maturities are determined from prices obtained from independent valuation service providers. Prices not obtained from an independent valuation service provider are determined by using a discounted cash flow model or a market comparable company valuation technique. In certain cases, these models use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model or a market comparable company valuation technique may also incorporate unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the fair value measurement of a security, a Level 3 classification generally is made. As disclosed in Note 3, at March 31, 2016 and December 31, 2015 , respectively, the net fair value of freestanding derivative positions is approximately $917 million and $659 million or approximately 66.4% and 64.1% of Other invested assets measured at fair value on a recurring basis. The fair values of the Company’s derivative positions are generally based on prices obtained either from independent valuation service providers or derived by applying market inputs from recognized vendors into industry standard pricing models. The majority of these derivative contracts are traded in the OTC derivative market and are classified in Level 2. The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that require use of the contractual terms of the derivative instruments and multiple market inputs, including interest rates, prices, and indices to generate continuous yield or pricing curves, including OIS curves and volatility factors, which then are applied to value the positions. The predominance of market inputs is actively quoted and can be validated through external sources or reliably interpolated if less observable. If the pricing information received from independent valuation service providers is not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process in accordance with the terms of the respective independent valuation service provider agreement. If, as a result, it is determined that the independent valuation service provider is able to reprice the derivative instrument in a manner agreed as more consistent with current market observations, the position remains within Level 2. Alternatively, a Level 3 classification may result if the pricing information then is sourced from another vendor, non-binding broker quotes, or internally-developed valuations for which the Company’s own assumptions about market-participant inputs would be used in pricing the security. At March 31, 2016 and December 31, 2015 , respectively, investments classified as Level 1 comprise approximately 70.1% and 71.8% of assets measured at fair value on a recurring basis and primarily include redeemable preferred stock, trading securities, cash equivalents and Separate Accounts assets. Fair value measurements classified as Level 1 include exchange-traded prices of fixed maturities, equity securities and derivative contracts, and net asset values for transacting subscriptions and redemptions of mutual fund shares held by Separate Accounts. Cash equivalents classified as Level 1 include money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less, and are carried at cost as a proxy for fair value measurement due to their short-term nature. At March 31, 2016 and December 31, 2015 , respectively, investments classified as Level 2 comprise approximately 29.0% and 27.3% of assets measured at fair value on a recurring basis and primarily include U.S. government and agency securities and certain corporate debt securities, such as public and private fixed maturities. As market quotes generally are not readily available or accessible for these securities, their fair value measures are determined utilizing relevant information generated by market transactions involving comparable securities and often are based on model pricing techniques that effectively discount prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security’s duration, also taking into consideration issuer-specific credit quality and liquidity. Segregated securities classified as Level 2 are U.S. Treasury Bills segregated by AB in a special reserve bank custody account for the exclusive benefit of brokerage customers, as required by Rule 15c3-3 of the Exchange Act and for which fair values are based on quoted yields in secondary markets. Observable inputs generally used to measure the fair value of securities classified as Level 2 include benchmark yields, reported secondary trades, issuer spreads, benchmark securities and other reference data. Additional observable inputs are used when available, and as may be appropriate, for certain security types, such as prepayment, default, and collateral information for the purpose of measuring the fair value of mortgage- and asset-backed securities. At March 31, 2016 and December 31, 2015 , respectively, approximately $640 million and $673 million of AAA-rated mortgage- and asset-backed securities are classified as Level 2 for which the observability of market inputs to their pricing models is supported by sufficient, albeit more recently contracted, market activity in these sectors. Certain AXA Equitable products such as the SCS and EQUI-VEST variable annuity products and the IUL product, as well as the MSO feature available in some AXA Equitable life contracts, offer investment options that permit the contract owner to participate in the performance of an index, ETF or commodity price. These investment options (depending and the product and index selected) can have 1, 3 or 5 year terms and permit participation in the index, ETF or commodity price up to a segment-specific declared maximum rate. Under certain conditions that vary by product, e.g. holding these segments for the full term, these segments also shield policyholders from some or all negative investment performance associated with these indices, ETFs or commodity prices. These investment options have defined formulaic liability amounts, and the current values of the option component of these segment reserves are accounted for as Level 2 embedded derivatives. The fair values of these embedded derivatives are based on prices obtained from independent valuation service providers. At March 31, 2016 and December 31, 2015 , respectively, investments classified as Level 3 comprise approximately 0.9% and 0.9% of assets measured at fair value on a recurring basis and primarily include CMBS and corporate debt securities, such as private fixed maturities. Determinations to classify fair value measures within Level 3 of the valuation hierarchy generally are based upon the significance of the unobservable factors to the overall fair value measurement. Included in the Level 3 classification at March 31, 2016 and December 31, 2015 , respectively, were approximately $144 million and $119 million of fixed maturities with indicative pricing obtained from brokers that otherwise could not be corroborated to market observable data. The Company applies various due-diligence procedures, as considered appropriate, to validate these non-binding broker quotes for reasonableness, based on its understanding of the markets, including use of internally-developed assumptions about inputs a market participant would use to price the security. In addition, approximately $485 million and $543 million of mortgage- and asset-backed securities, including CMBS, are classified as Level 3 at March 31, 2016 and December 31, 2015 , respectively. The Company utilizes prices obtained from an independent valuation service vendor to measure fair value of CMBS securities. The Company also issues certain benefits on its variable annuity products that are accounted for as derivatives and are also considered Level 3. The GMWB feature allows the policyholder to withdraw at minimum, over the life of the contract, an amount based on the contract’s benefit base. The GWBL feature allows the policyholder to withdraw, each year for the life of the contract, a specified annual percentage of an amount based on the contract’s benefit base. The GMAB feature increases the contract account value at the end of a specified period to a GMAB base. The GIB feature provides a lifetime annuity based on predetermined annuity purchase rates if and when the contract account value is depleted. This lifetime annuity is based on predetermined annuity purchase rates applied to a GIB base. Level 3 also includes the GMIB reinsurance contract asset which is accounted for as derivative contracts. The GMIB reinsurance contract asset’s fair value reflects the present value of reinsurance premiums and recoveries and risk margins over a range of market consistent economic scenarios while the GIB and GWBL and Other Features related liability reflects the present value of expected future payments (benefits) less fees, adjusted for risk margins, attributable to the GIB and GWBL and Other Features over a range of market-consistent economic scenarios. The valuations of both the GMIB reinsurance contract asset and GIB and GWBL and Other Features’ liability incorporate significant non-observable assumptions related to policyholder behavior, risk margins and projections of equity Separate Account funds. The credit risks of the counterparty and of the Company are considered in determining the fair values of its GMIB reinsurance contract asset and GIB and GWBL and Other Features’ liability positions, respectively, after taking into account the effects of collateral arrangements. Incremental adjustment to the swap curve, adjusted for non-performance risk, is made to the resulting fair values of the GMIB reinsurance contract asset to reflect change in the claims-paying ratings of counterparties to the reinsurance treaties. After giving consideration to collateral arrangements, the Company reduced the fair value of its GMIB reinsurance contract asset by $161 million and $123 million at March 31, 2016 and December 31, 2015 , respectively, to recognize incremental counterparty non-performance risk. The unadjusted swap curve was determined to reflect a level of general swap market counterparty risk; therefore, no adjustment was made for purpose of determining the fair value of the GIB and GWBL and Other Features’ liability embedded derivative at March 31, 2016 . Equity and fixed income volatilities were modeled to reflect the current market volatility. The Company’s Level 3 liabilities include contingent payment arrangements associated with acquisitions in 2010, 2013 and 2014 by AB. At each reporting date, AB estimates the fair values of the contingent consideration expected to be paid based upon probability-weighted AUM and revenue projections, using unobservable market data inputs, which are included in Level 3 of the valuation hierarchy. In the first quarter of 2016 , AFS fixed maturities with fair values of $4 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, AFS fixed maturities with Fair Value of $42 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 0.3% of total equity at March 31, 2016 . Also, as of March 31, 2016, the three AB consolidated VIEs that are open-end Luxembourg funds hold $5 million of investments that are classified as Level 3. They primarily consist of corporate bonds that are vendor priced with no ratings available, bank loans, non-agency collateralized mortgage obligations and asset-backed securities. The remainder of the activity in other equity investments related to AB’s consolidated venture capital fund, which is also now considered a consolidated VIE. In the first quarter of 2015 , AFS fixed maturities with fair values of $61 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, AFS fixed maturities with Fair Value of $41 million were transferred from Level 2 in to the Level 3 classification. These transfers in the aggregate represent approximately 0.5% of total equity at March 31, 2015 . The table below presents a reconciliation for all Level 3 assets and liabilities for the first quarters of 2016 and 2015 , respectively: Level 3 Instruments Fair Value Measurements Corporate State and Political Sub- divisions Foreign Govts Commercial Mortgage- backed Residential Mortgage- backed Asset- backed (In Millions) Balance, January 1, 2016 $ 420 $ 45 1 503 $ — $ 40 Total gains (losses), realized and unrealized, included in: Earnings (loss) as: Net investment income (loss) — — — — — — Investment gains (losses), net — — — (6 ) — — Subtotal — — — (6 ) — — Other comprehensive income (loss) 10 — — (12 ) — — Purchases 62 — — — — — Issues — — — — — — Sales (36 ) — — (34 ) — (3 ) Settlements — — — — — — Transfers into Level 3 (1) 42 — — — — — Transfers out of Level 3 (1) — — (1 ) (3 ) — — Balance, March 31, 2016 $ 498 $ 45 — 448 $ — $ 37 Balance, January 1, 2015 $ 380 $ 47 — 715 $ 2 $ 53 Total gains (losses), realized and unrealized, included in: Earnings (loss) as: Net investment income (loss) — — — — — — Investment gains (losses), net — — — (2 ) — — Subtotal — — — (2 ) — — Other comprehensive income (loss) 4 1 — 13 — (1 ) Purchases 30 — — — — — Issues — — — — — — Sales (8 ) — — (25 ) — (1 ) Transfers into Level 3 (1) 39 — 2 — — — Transfers out of Level 3 (1) (46 ) — — (15 ) — — Balance, March 31, 2015 $ 399 $ 48 2 686 $ 2 $ 51 Redeemable Preferred Stock Other Equity Investments (2) GMIB Reinsurance Asset Separate Accounts Assets GWBL and Other Features’ Liability Contingent Payment Arrangement (In Millions) Balance, January 1, 2016 $ — $ 17 $ 10,570 $ 313 $ 184 $ 31 Total gains (losses), realized and unrealized, included in: Earnings (loss) as: Net investment income (loss) — — — — — 1 Investment gains (losses), net — — — 7 — — Increase (decrease) in the fair value of the reinsurance contract asset — — 1,598 — — — Policyholders’ benefits — — — — 30 — Subtotal — — 1,598 7 30 1 Other comprehensive income (loss) — — — — — — Purchases (3) — 2 55 6 51 — Issues — — — — — — Sales (4) — — (16 ) — — — Settlements (5) — — — (3 ) — (1 ) Transfers into Level 3 (1) — 6 — — — — Transfers out of Level 3 (1) — — — — — — Balance, March 31, 2016 $ — $ 25 $ 12,207 $ 323 $ 265 31 Balance, January 1, 2015 $ — $ 61 $ 10,711 $ 260 $ 128 42 Total gains (losses), realized and unrealized, included in: Earnings (loss) as: Net investment income (loss) — — — — — 1 Investment gains (losses), net — (5 ) — 8 — — Increase (decrease) in the fair value of the reinsurance contract asset — — 645 — — — Policyholders’ benefits — — — — (2 ) — Subtotal — (5 ) 645 8 (2 ) 1 Other comprehensive income (loss) — 3 — — — — Purchases (3) — — 56 3 41 — Issues — — — — — — Sales (4) — — (11 ) (1 ) — — Settlements (5) — — — (1 ) — (1 ) Transfers into Level 3 (1) — — — — — — Transfers out of Level 3 (1) — — — (2 ) — — Balance, March 31, 2015 $ — $ 59 $ 11,401 $ 267 $ 167 42 (1) Transfers into/out of Level 3 classification are reflected at beginning-of-period fair values. (2) Includes Level 3 amounts for Trading securities and consolidated VIE investments. (3) For the GMIB reinsurance contract asset and GWBL and other features reserves, represents premiums. (4) For the GMIB reinsurance contract asset, represents recoveries from reinsurers and for GWBL and other features reserves represents benefits paid. (5) For contingent payment arrangements, it represents payments under the arrangement. The table below details changes in unrealized gains (losses) for the first quarters of 2016 and 2015 by category for Level 3 assets and liabilities still held at March 31, 2016 and 2015 , respectively: Earnings (Loss) Investment Gains (Losses), Net Increase (Decrease) in the Fair Value of the Reinsurance Contract Asset OCI Policy- holders’ Benefits (In Millions) Level 3 Instruments First Quarter 2016 Held at March 31, 2016: Change in unrealized gains (losses): Fixed maturities, available-for-sale: Corporate $ — $ — $ 11 $ — Commercial mortgage-backed — — (12 ) — Asset-backed — — — — Other fixed maturities, available-for-sale — — — — Subtotal $ — $ — $ (1 ) $ — GMIB reinsurance contracts — 1,637 — — Separate Accounts’ assets 7 — — — GWBL and Other Features’ liability — — — 81 Total $ 7 $ 1,637 $ (1 ) $ 81 Level 3 Instruments First Quarter 2015 Held at March 31, 2015: Change in unrealized gains (losses): Fixed maturities, available-for-sale: Corporate $ — $ — $ 5 $ — State and political subdivisions — — 1 — Commercial mortgage-backed — — 12 — Asset-backed — — (1 ) — Other fixed maturities, available-for-sale — — — — Subtotal $ — $ — $ 17 $ — GMIB reinsurance contracts — 690 — — Separate Accounts’ assets 8 — — — GWBL and Other Features’ liability — — — (39 ) Total $ 8 $ 690 $ 17 $ (39 ) The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities as of March 31, 2016 and December 31, 2015 , respectively. Quantitative Information about Level 3 Fair Value Measurements March 31, 2016 Fair Value Valuation Technique Significant Unobservable Input Range (In Millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ 70 Matrix pricing model Spread over the industry-specific benchmark yield curve 25 bps - 565 bps 182 Market comparable companies EBITDA multiples 5.9x- 18.3x Asset-backed 3 Matrix pricing model Spread over U.S. Treasury curve 30 bps - 687 bps Other equity investments 10 Market comparable companies Revenue multiple 2.7x - 4.4x Separate Accounts’ assets 280 Third party appraisal Capitalization rate 4.8% Exit capitalization rate 5.8% Discount rate 6.7% 6 Discounted cash flow Spread over U.S. Treasury curve 287 bps - 424 bps Gross domestic product rate 0%- 0% Discount factor 2.12%- 5.50% GMIB reinsurance contract asset 12,207 Discounted cash flow Lapse Rates 1.5%- 5.7% Withdrawal Rates 0.0% - 8.0% GMIB Utilization Rates 0.0% - 8.0% Non-performance risk 4 bps - 16 bps Volatility rates - Equity 8% - 34% Liabilities: GWBL and other features liability $ 265 Discounted Cash flow Lapse Rates 1.0% - 11.0% Withdrawal Rates 0.0% - 8.0% Volatility rates - Equity 8% - 34% Quantitative Information about Level 3 Fair Value Measurements December 31, 2015 Fair Value Valuation Technique Significant Unobservable Input Range (In Millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ 61 Matrix pricing model Spread over the industry-specific benchmark yield curve 50 bps - 565 bps 154 Market comparable companies EBITDA multiples Discount Rate Cash flow Multiples 7.8x-19.1x Asset-backed 3 Matrix pricing model Spread over U.S. Treasury curve 30 bps - 687 bps Other equity investments 10 Market comparable companies Revenue multiple Marketable Discount 2.5x - 4.8x Separate Accounts’ assets 271 Third party appraisal Capitalization rate 4.9% Exit capitalization rate 5.9% Discount rate 6.7% 7 Discounted cash flow Spread over U.S. Treasury curve 280 bps - 411 bps Gross domestic product rate 0.0% - 1.09% Discount factor 2.3% - 5.9% GMIB reinsurance contract asset 10,570 Discounted Cash flow Lapse Rates 0.6% - 5.7% Withdrawal Rates 0.2% - 8.0% GMIB Utilization Rates 0.0% - 15.0% Non-performance risk 5 bps - 18 bps Volatility rates - Equity 9.0%- 35.0% Liabilities: GWBL and other features liability $ 184 Discounted Cash flow Lapse Rates 1.0% - 11.0% Withdrawal Rates 0.0% - 8.0% Volatility rates - Equity 9.0% -35.0% Excluded from the tables above at March 31, 2016 and December 31, 2015 , are approximately $ 825 million and $865 million , respectively, of Level 3 fair value measurements of investments for which the underlying quantitative inputs are not developed by the Company and are not reasonably available. The fair value measurements of these Level 3 investments comprise approximately 60.0 % and 63.1% of total assets classified as Level 3 at March 31, 2016 and December 31, 2015 , respectively, and represent only 0.5 % and 0.6% of total assets measured at fair value on a recurring basis. These investments primarily consist of certain privately placed debt securities with limited trading activity, including commercial mortgage-, residential mortgage- and asset-backed instruments, and their fair values generally reflect unadjusted prices obtained from independent valuation service providers and indicative, non-binding quotes obtained from third-party broker-dealers recognized as market participants. Significant increases or decreases in the fair value amounts received from these pricing sources may result in the Company’s reporting significantly higher or lower fair value measurements for these Level 3 investments. Included in the tables above at March 31, 2016 and December 31, 2015 , respectively, are approximately $ 252 million and $215 million fair value of privately placed, available-for-sale corporate debt securities classified as Level 3. The fair value of private placement securities is determined by application of a matrix pricing model or a market comparable company value technique, representing approximately 50.6 % and 51.2% of the total fair value of Level 3 securities in the corporate fixed maturities asset class. The significant unobservable input to the matrix pricing model valuation technique is the spread over the industry-specific benchmark yield curve. Generally, an increase or decrease in spreads would lead to directionally inverse movement in the fair value measurements of these securities. The significant unobservable input to the market comparable

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Mar. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS AXA Equitable AXA Equitable sponsors the AXA Equitable 401(k) Plan, a qualified defined contribution plan for eligible employees and financial professionals. The plan provides for both a company contribution and a discretionary profit-sharing contribution. Expenses associated with this 401(k) Plan were $4 million and $4 million in first quarter 2016 and 2015, respectively. AXA Equitable also sponsors the AXA Equitable Retirement Plan (the “AXA Equitable QP”), a frozen qualified defined benefit pension plan covering eligible employees and financial professionals. Effective December 31, 2015, primary liability for the obligations of AXA Equitable under the AXA Equitable QP was transferred from AXA Equitable to AXA Financial under the terms of an Assumption Agreement. AXA Equitable remains secondarily liable for its obligations under the AXA Equitable QP and would recognize such liability in the event AXA Financial does not perform under the terms of the Assumption Agreement. AB AB maintains the Profit Sharing Plan for Employees of AB, a tax-qualified retirement plan for U.S. employees. Employer contributions under this plan are discretionary and generally are limited to the amount deductible for Federal income tax purposes. AB also maintains a qualified, non-contributory, defined benefit retirement plan covering current and former employees who were employed by AB in the United States prior to October 2, 2000 (the “AB Plan”). Benefits under the AB Plan are based on years of credited service and average final base salary. In the first quarter of 2016 , no cash contributions were made by AB to the AB Plan. Based on the funded status of the AB plan at March 31, 2016 , no minimum contribution is required to be made in 2016 under ERISA, as amended by the Pension Act, but management is currently evaluating if it will make contributions for the remainder of 2016. The funding policy for the AB Plan is to satisfy its funding obligations each year in an amount not less than the minimum required by the ERISA, as amended by the Pension Act, and not greater than the maximum it can deduct for Federal income tax purposes. Components of net periodic pension expense for the Company’s qualified plans (First quarter 2016 net periodic pension expense is solely related to the AB Plan) were as follows: Three Months Ended March 31, 2016 2015 (In Millions) Net Periodic Pension Expense: (Qualified Plans) Service cost $ — $ 2 Interest cost 1 23 Expected return on assets (1 ) (39 ) Net amortization — 30 Net Periodic Pension Expense $ — $ 16

SHARE-BASED COMPENSATION PROGRA

SHARE-BASED COMPENSATION PROGRAMS	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation Programs	SHARE-BASED COMPENSATION PROGRAMS AXA and AXA Financial sponsor various share-based compensation plans for eligible employees and financial professionals of AXA Financial and its subsidiaries. AB also sponsors its own unit option plans for certain of its employees. Compensation costs for the first quarters of 2016 and 2015 for share-based payment arrangements as further described herein are as follows: Three Months Ended March 31, 2016 2015 (In Thousands) Performance Units/Shares $ 2,218 $ 862 Stock Options 109 130 AB Stock Options — 1,900 AB Restricted Units 1,200 — Other compensation plans (1) (920 ) 80 Total Compensation Expenses $ 2,607 $ 2,972 (1) Other compensation plans include Restricted Stock, Stock Appreciation Rights and AXA Miles. Performance Units/Shares In the first quarter of 2016, the expense associated with the June 19, 2015 grant of performance shares was approximately $985,599 . Settlement of 2013 Grant in 2016. On March 22, 2016, share distributions totaling approximately $55 million were made to active and former AXA Equitable employees in settlement of 2,293,998 performance shares earned under the terms of the AXA Performance Share Plan 2013. Stock Options In the first quarter of 2016, the Company recognized expenses associated with the June 19, 2015 grant of options of approximately $24,850 . AB Long-term Incentive Compensation Plans. During the first quarters of 2016 and 2015 , AB purchased 1.9 million and 0.7 million Holding units for $40 million and $17 million , respectively (on a trade date basis). These amounts reflect open-market purchases of 1.8 million and 0.6 million Holding Units for $38 million and $15 million , respectively with the remainder relating to purchases of Holding units from employees to allow them to fulfill statutory tax withholding requirements at the time of distribution of long-term incentive compensation awards. During the first quarters of 2016 and 2015 , AB granted to employees and eligible Directors 0.3 million and 0.1 million restricted Holding awards, respectively. In the first quarters of 2016 and 2015 , AB used Holding units repurchased during the period and newly issued Holding units to fund the restricted Holding unit awards. Other Compensation Plans 2012 AXA Miles. On March 16, 2016, share distributions totaling approximately $4 million were made to active and former AXA Equitable employees in settlement of 164,150 AXA Miles earned under the terms of the AXA Miles Program 2012.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Income taxes for the interim periods ended March 31, 2016 and 2015 have been computed using an estimated annual effective tax rate. This rate is revised, if necessary, at the end of each successive interim period to reflect the current estimate of the annual effective tax rate.

LITIGATION

LITIGATION	3 Months Ended
	Mar. 31, 2016
Litigation Settlement [Abstract]
Litigation	LITIGATION There have been no new material legal proceedings and no material developments in the specific litigations or regulatory matters previously reported in the Company’s Notes to Consolidated Financial Statements for the year ended December 31, 2015 , except as set forth below: Insurance Litigation A lawsuit was filed in the Supreme Court of the State of New York, County of Westchester, Commercial Division (“New York state court”) in June 2014, entitled Jessica Zweiman, Executrix of the Estate of Anne Zweiman, on behalf of herself and all others similarly situated v. AXA Equitable Life Insurance Company . The lawsuit is a putative class action on behalf of “all persons who purchased variable annuities from AXA Equitable which subsequently became subject to the ATM Strategy, and who suffered injury as a result thereof.” Plaintiff asserts that AXA Equitable breached the variable annuity contracts by implementing the volatility management tool. The lawsuit seeks unspecified damages. In July 2014, AXA Equitable filed a notice of removal to the United States District Court for the Southern District of New York. In September 2015, the New York federal district court granted AXA Equitable’s motion to dismiss the Complaint. In October 2015, plaintiff filed a notice of appeal. In February 2016, plaintiff voluntarily dismissed her appeal. In November 2014, one of the plaintiff’s law firms in Zweiman filed a separate lawsuit entitled Arlene Shuster, on behalf of herself and all others similarly situated v. AXA Equitable Life Insurance Company in the Superior Court of New Jersey, Camden County (“New Jersey state court”). This lawsuit is a putative class action on behalf of “all AXA [Equitable] variable life insurance policyholders who allocated funds from their Policy Accounts to investments in AXA’s Separate Accounts, which were subsequently subjected to volatility-management strategy, and who suffered injury as a result thereof” and asserts a claim for breach of contract similar to the claim in Zweiman. In February 2016, the New Jersey State Court dismissed the Complaint. In April 2016, plaintiff filed a notice of appeal. In August 2015, another of the plaintiff’s law firms in Zweiman filed a third lawsuit entitled Richard T. O’Donnell, on behalf of himself and all other similarly situated v. AXA Equitable Life Insurance Company in Connecticut Superior Court, Judicial Division of New Haven (“Connecticut state court”). This lawsuit purports to cover the same class definition, makes substantially the same allegations, and seeks the same relief as in Zweiman. In November 2015, the Connecticut federal district court transferred the action to the United States District Court for the Southern District of New York. _______________________________________________________________________________ Although the outcome of litigation and regulatory matters generally cannot be predicted with certainty, management intends to vigorously defend against the allegations made by the plaintiffs in the actions described above and believes that the ultimate resolution of the matters described therein involving AXA Equitable and/or its subsidiaries should not have a material adverse effect on the consolidated financial position of AXA Equitable. Management cannot make an estimate of loss, if any, or predict whether or not any of the matters described above will have a material adverse effect on AXA Equitable’s consolidated results of operations in any particular period. In addition to the matters described above, a number of lawsuits, claims, assessments and regulatory inquiries have been filed or commenced against life and health insurers and asset managers in the jurisdictions in which AXA Equitable and its respective subsidiaries do business. These actions and proceedings involve, among other things, insurers’ sales practices, alleged agent misconduct, alleged failure to properly supervise agents, contract administration, product design, features and accompanying disclosure, cost of insurance increases, the use of captive reinsurers, payments of death benefits and the reporting and escheatment of unclaimed property, alleged breach of fiduciary duties, alleged mismanagement of client funds and other matters. In addition, a number of lawsuits, claims, assessments and regulatory inquiries have been filed or commenced against businesses in the jurisdictions in which AXA Equitable and its subsidiaries do business, including actions and proceedings related to alleged discrimination, alleged breaches of fiduciary duties in connection with qualified pension plans and other general business-related matters. Some of the matters have resulted in the award of substantial judgments, including material amounts of punitive damages, or in substantial settlements. Courts, juries and regulators often have substantial discretion in awarding damage awards and fines, including punitive damages. AXA Equitable and its subsidiaries from time to time are involved in such actions and proceedings. While the ultimate outcome of such matters cannot be predicted with certainty, in the opinion of management no such matter is likely to have a material adverse effect on AXA Equitable’s consolidated financial position or results of operations. However, it should be noted that the frequency of large damage awards, including large punitive damage awards and regulatory fines that bear little or no relation to actual economic damages incurred, continues to create the potential for an unpredictable judgment in any given matter.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure	RELATED PARTY TRANSACTIONS AXA Equitable reimburses AXA Financial for expenses relating to certain employee compensation and benefits. Such reimbursement is based on the cost to AXA Financial of the benefits provided which totaled $ 11 million and $11 million , respectively, for the first quarters of 2016 and 2015 . AXA Equitable paid $ 148 million and $145 million , respectively, of commissions and fees to AXA Distribution and its subsidiaries for sales of insurance products for the first quarters of 2016 and 2015 . AXA Equitable charged AXA Distribution’s subsidiaries $ 82 million and $82 million , respectively, for their applicable share of operating expenses for the first quarters of 2016 and 2015 , pursuant to agreements for services as described in the following paragraph. AXA Equitable provides personnel services, employee benefits, facilities, supplies and equipment under service agreements with certain AXA Financial subsidiaries and affiliates to conduct their business. The associated costs related to the service agreements are allocated based on methods that management believes are reasonable, including a review of the nature of such costs and activities performed to support each company. As a result of such allocations, AXA Equitable was reimbursed $ 29 million and $ 19 million for the first quarters of 2016 and 2015 , respectively. Both AXA Equitable and AB, along with other AXA affiliates, participate in certain intercompany cost sharing and service agreements including technology and professional development arrangements. AXA Equitable and AB incurred expenses under such agreements of approximately $ 38 million and $ 33 million for the first quarters of 2016 and 2015 , respectively. Expense reimbursements by AXA and AXA affiliates to AXA Equitable under such agreements totaled approximately $ 4 million and $ 3 million for the first quarters of 2016 and 2015 , respectively. The net receivable (payable) related to these contracts was approximately $ 1 million and $1 million at March 31, 2016 and December 31, 2015 , respectively. At March 31, 2016 and December 31, 2015 , AXA Equitable’s GMIB reinsurance contract asset with AXA Arizona had carrying values of $ 10,075 million and $8,741 million , respectively, and is reported in Guaranteed minimum income benefit reinsurance contract asset, at fair value in the consolidated balance sheets. Ceded premiums to AXA Arizona in the first quarters of 2016 and 2015 related to the UL and no lapse guarantee riders totaled approximately $ 107 million and $109 million , respectively. Ceded claims paid in the first quarters of 2016 and 2015 were $ 25 million and $16 million , respectively. In the first quarter of 2016, AXA Equitable sold artwork to AXA Financial and recognized a $20 million gain on the sale. AXA Equitable used the proceeds received from this sale to make a $20 million donation to AXA Foundation, Inc. (the “Foundation”). The Foundation was organized for the purpose of distributing grants to various tax-exempt charitable organizations and administering various matching gift programs for AXA Equitable its subsidiaries and affiliates. In June 2009, AXA Equitable sold real estate property valued at $1,100 million to a non-insurance subsidiary of AXA Financial in exchange for $700 million in cash and $400 million in 8.0% ten year term mortgage notes on the property reported in Loans to affiliates in the consolidated balance sheets. In November 2014, this loan was refinanced and a new $382 million , seven year term loan with an interest rate of 4.0% was issued. In January 2016, the property was sold and a portion of the proceeds were used to repay the $382 million term loan outstanding and a $65 million prepayment penalty.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) AOCI represents cumulative gains (losses) on items that are not reflected in earnings (loss). The balances as of March 31, 2016 and 2015 follow: March 31, 2016 2015 (In Millions) Unrealized gains (losses) on investments $ 1,021 $ 1,462 Foreign currency translation adjustments (49 ) (46 ) Defined benefit pension plans (12 ) (761 ) Total accumulated other comprehensive income (loss) 960 655 Less: Accumulated other comprehensive (income) loss attributable to noncontrolling interest 54 51 Accumulated Other Comprehensive Income (Loss) Attributable to AXA Equitable $ 1,014 $ 706 The components of OCI, net-of-taxes for the first quarters of 2016 and 2015 follow: Three Months Ended March 31, 2016 2015 (In Millions) Foreign currency translation adjustments: Foreign currency translation gains (losses) arising during the period $ 9 $ (12 ) (Gains) losses reclassified into net earnings (loss) during the period — — Foreign currency translation adjustment 9 (12 ) Net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period 814 386 (Gains) losses reclassified into net earnings (loss) during the period (1) 14 (1 ) Net unrealized gains (losses) on investments 828 385 Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other (48 ) (46 ) Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $427 and $181) 780 339 Change in defined benefit plans: Less: reclassification adjustments to net earnings (loss) for (2) : Net gain (loss) arising during the period — 19 Change in defined benefit plans (net of deferred income tax expense (benefit) of $0 and $10) — 19 Total other comprehensive income (loss), net of income taxes 789 346 Less: Other comprehensive (income) loss attributable to noncontrolling interest (3 ) 9 Other Comprehensive Income (Loss) Attributable to AXA Equitable $ 786 $ 355 (1) See “Reclassification adjustments” in Note 3. Reclassification amounts presented net of income tax expense (benefit) of $ (8) million and $1 million , for the first quarters of 2016 and 2015 , respectively. (2) Reclassification amounts presented net of income tax expense (benefit) of $0 million and $10 million for first quarters of 2016 and 2015 , respectively. Investment gains and losses reclassified from AOCI to net earnings (loss) primarily consist of realized gains (losses) on sales and OTTI of AFS securities and are included in Total investment gains (losses), net on the consolidated statements of earnings (loss). Amounts reclassified from AOCI to net earnings (loss) as related to defined benefit plans primarily consist of amortizations of net (gains) losses and net prior service cost (credit) recognized as a component of net periodic cost and reported in Compensation and benefit expenses in the consolidated statements of earnings (loss). Amounts presented in the table above are net of tax.

COMMITMENT AND CONTINGENT LIABI

COMMITMENT AND CONTINGENT LIABILITIES	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	COMMITMENTS AND CONTINGENT LIABILITIES Restructuring In an effort to further reduce its global real estate footprint, AB completed a comprehensive review of its worldwide office locations and began implementing a global space consolidation plan in 2012. This resulted in the sublease of office space primarily in New York as well as offices in England, Australia and various U.S. locations. In first quarter 2016, the Company recorded an additional $28 million of real estate charges, recorded in Other operating costs and expenses in the Statements of earnings (loss), all of which were related to AB’s consolidation plan. Obligation under funding agreements As a member of the FHLBNY, AXA Equitable has access to collateralized borrowings. It also may issue funding agreements to the FHLBNY. Both the collateralized borrowings and funding agreements would require AXA Equitable to pledge qualified mortgage-backed assets and/or government securities as collateral. AXA Equitable’s has a capacity with the FHLBNY is $4,000 million . At both March 31, 2016 and December 31, 2015 AXA Equitable had $500 million of outstanding funding agreements with the FHLBNY. AXA Equitable utilized these funding agreements for asset liability management purposes. For other instruments used for asset liability management purposes see “Derivative and offsetting assets and liabilities” included in Note 3. Funding agreements are reported in Policyholders’ account balances in the consolidated balance sheets. Other Commitments AXA Equitable had approximately $18 million of undrawn letters of credit issued in favor of third party beneficiaries primarily related to reinsurance as well as $585 million (including $243 million with affiliates) and $885 million of commitments under equity financing arrangements to certain limited partnership and existing mortgage loan agreements, respectively, at March 31, 2016.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The following tables reconcile segment revenues and earnings (loss) from continuing operations before income taxes to total revenues and earnings (loss) as reported on the consolidated statements of earnings (loss) and segment assets to total assets on the consolidated balance sheets. Three Months Ended March 31, 2016 2015 (In Millions) Segment revenues: Insurance (1) $ 4,270 $ 2,810 Investment Management (2) 769 763 Consolidation/elimination (5 ) (6 ) Total Revenues $ 5,034 $ 3,567 (1) Includes investment expenses charged by AB of approximately $12 million and $12 million for the first quarters of 2016 and 2015 , respectively, for services provided to the Insurance Segment. (2) Intersegment investment advisory and other fees of approximately $17 million and $18 million , for the first quarters of 2016 and 2015 , respectively, are included in total revenues of the Investment Management segment. Three Months Ended March 31, 2016 2015 (In Millions) Segment earnings (loss) from continuing operations, before income taxes: Insurance $ 2,284 $ 983 Investment Management 169 147 Consolidation/elimination 1 — Total Earnings (Loss) from Continuing Operations, before income taxes $ 2,454 $ 1,130 March 31, December 31, (In Millions) Segment assets: Insurance $ 187,532 $ 182,738 Investment Management (1) 12,452 11,895 Consolidation/elimination (1 ) (7 ) Total Assets $ 199,983 $ 194,626 (1) In accordance with SEC regulations, the assets of the Investment Management segment include securities with a fair value of $ 635 million and $460 million which have been segregated in a special reserve bank custody account at March 31, 2016 and December 31, 2015 , respectively, for the exclusive benefit of securities broker-dealer or brokerage customers under the Exchange Act. They also include cash held in several special bank accounts for the exclusive benefit of customers. As of March 31, 2016 and December 31, 2015 , $89 million and $55 million , respectively, of cash was segregated in these bank accounts.

SIGNIFICANT ACCOUNTING POLICI22

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Accounting for Variable Annuities with GMDB and GMIB Features	Accounting for Variable Annuities with GMDB and GMIB Features Future claims exposure on products with guaranteed minimum death benefit (“GMDB”) and guaranteed minimum income benefit (“GMIB”) features are sensitive to movements in the equity markets and interest rates. The Company has in place various hedging programs utilizing derivatives that are designed to mitigate the impact of movements in equity markets and interest rates. The accounting for these various hedging programs does not qualify for hedge accounting treatment. As a result, changes in the value of the derivatives will be recognized in the period in which they occur while offsetting changes in reserves and deferred policy acquisition costs (“DAC”) will be recognized over time in accordance with policies described in the Company’s Notes to Consolidated Financial Statements for the year ended December 31, 2015 , under “Policyholders’ Account Balances and Future Policy Benefits” and “DAC”. These differences in recognition contribute to earnings volatility. GMIB reinsurance contracts are used to cede to affiliated and non-affiliated reinsurers a portion of the exposure on variable annuity products that offer the GMIB feature. The GMIB reinsurance contracts are accounted for as derivatives and are reported at fair value. Gross reserves for GMIB are calculated on the basis of assumptions related to projected benefits and related contract charges over the lives of the contracts and therefore will not immediately reflect the offsetting impact on future claims exposure resulting from the same capital market and/or interest rate fluctuations that cause gains or losses on the fair value of the GMIB reinsurance contracts. The changes in the fair value of the GMIB reinsurance contracts are recorded in the period in which they occur while offsetting changes in gross reserves and DAC for GMIB are recognized over time in accordance with policies described in the Company’s Notes to Consolidated Financial Statements for the year ended December 31, 2015 under “Policyholders’ Account Balances and Future Policy Benefits” and “DAC”. These differences in recognition contribute to earnings volatility.
Adoption of New Accounting Pronouncements	Adoption of New Accounting Pronouncements In February 2015, the FASB issued a new consolidation standard that makes targeted amendments to the VIE assessment, including guidance specific to the analysis of fee arrangements and related party relationships, modifies the guidance for the evaluation of limited partnerships and similar entities for consolidation to eliminate the presumption of general partner control, and ends the deferral that had been granted to certain investment companies for applying previous VIE guidance. The Company adopted this new standard beginning January 1, 2016, having elected not to early-adopt in previous interim periods, and applied the guidance using a modified retrospective approach, thereby not requiring the restatement of prior year periods. The Company’s reevaluation of all legal entities under the new standard resulted in identification of additional VIEs and consolidation of certain investment products of the Investment Management segment that were not consolidated in accordance with previous guidance. “See Consolidation of VIEs” below. In May 2015, the FASB issued new guidance related to disclosures for investments in certain entities that calculate net asset value (“NAV”) per share (or its equivalent). Under the new guidance, investments measured at NAV, as a practical expedient for fair value, are excluded from the fair value hierarchy. Removing investments measured using the practical expedient from the fair value hierarchy was intended to eliminate the diversity in practice with respect to the categorization of these investments. The only criterion for categorizing investments in the fair value hierarchy is now the observability of the inputs. The amendment was effective retrospectively for fiscal years (and interim periods within those years) beginning after December 15, 2015. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements. In April 2015, the FASB issued new guidance, simplifying the presentation of debt issuance costs, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The new guidance is effective retrospectively for interim or annual periods beginning after December 15, 2015. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements. In June 2014, the FASB issued new guidance for accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The new guidance is effective for interim and annual periods beginning after December 15, 2015. Implementation of this guidance did not have a material impact on the Company’s consolidated financial statements.
Future Adoption of New Accounting Pronouncements	Future Adoption of New Accounting Pronouncements In March 2016, the FASB issued new guidance simplifying the transition to the equity method of accounting. The amendment eliminates the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investments had been held. The amendment requires that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. Therefore, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. Additionally, the amendment requires that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain (loss) in AOCI at the date the investment becomes qualified for use of the equity method. The amendment is effective for fiscal years (and interim periods within those years) beginning after December 15, 2016 and should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. The amendment is not expected to have a material impact on the Company’s consolidated financial statements. In March 2016, the FASB issued new guidance on improvements to employee share-based payment accounting. The amendment includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements including: income tax effects of share-based payments, minimum statutory tax withholding requirements and forfeitures. The amendment is effective for fiscal years (and interim periods within those years) beginning after December 15, 2016. The provisions will be applied using various transition approaches (prospective, retrospective and modified retrospective). Management is currently evaluating the impact that the adoption of this standard will have on the Company’s consolidated financial statements. In May 2014, the FASB issued new revenue recognition guidance that is intended to improve and converge the financial reporting requirements for revenue from contracts with customers with International Financial Reporting Standards (“IFRS”). The new guidance applies to contracts that deliver goods or services to a customer, except when those contracts are for: insurance, leases, rights and obligations that are in the scope of certain financial instruments (i.e., derivative contracts) and guarantees other than product or service warranties. The new guidance is effective for interim and annual periods, beginning after December 15, 2017, with early adoption permitted for interim and annual periods beginning after December 15, 2016. Management is currently evaluating the impact that adoption of this guidance will have on the Company’s consolidated financial statements.
Consolidation of VIEs	Consolidation of VIEs A VIE must be consolidated by its primary beneficiary, which generally is defined as the party who has a controlling financial interest in the VIE. The Company is deemed to have a controlling financial interest in a VIE if it has (i) the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and (ii) the obligation to absorb losses of the VIE or the right to receive income from the VIE that potentially could be significant to the VIE. For purposes of evaluating (ii) above, fees paid to the Company as a decision maker or service provider are excluded if the fees are compensation for services provided commensurate with the level of effort required to be performed and the arrangement includes only customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length. If the Company has a variable interest in an entity that is determined not to be a VIE, the entity then is evaluated for consolidation under the voting interest entity (“VOE”) model. For limited partnerships and similar entities, the Company is deemed to have a controlling financial interest in a VOE, and would be required to consolidate the entity, if the Company owns a majority of the entity’s kick-out rights through voting limited partnership interests and other limited partners do not hold substantive participating rights (or other rights that would indicate that the Company does not control the entity). For entities other than limited partnerships, the Company is deemed to have a controlling financial interest in a VOE if it owns a majority voting interest in the entity. The analysis performed to identify variable interests held, determine whether entities are VIEs or VOEs, and evaluate whether the Company has a controlling financial interest in such entities require the exercise of judgment and are updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate.
Fair Value Measurement	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The accounting guidance established a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure the fair value of instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued also are considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities by Classification	The following table provides information relating to fixed maturities and equity securities classified as AFS: Available-for-Sale Securities by Classification Amortized Gross Unrealized Gross Unrealized Fair OTTI (3) (In Millions) March 31, 2016: Fixed Maturity Securities: Public corporate $ 13,064 883 92 $ 13,855 $ — Private corporate 6,714 325 54 6,985 — U.S. Treasury, government and agency 10,226 856 76 11,006 — States and political subdivisions 437 81 1 517 — Foreign governments 343 40 11 372 — Commercial mortgage-backed 541 26 96 471 9 Residential mortgage-backed (1) 582 35 — 617 — Asset-backed (2) 60 9 1 68 3 Redeemable preferred stock 569 61 1 629 — Total Fixed Maturities 32,536 2,316 332 34,520 12 Equity securities 35 — — 35 — Total at March 31, 2016 $ 32,571 $ 2,316 $ 332 $ 34,555 $ 12 December 31, 2015: Fixed Maturity Securities: Public corporate $ 12,890 $ 688 $ 202 $ 13,376 $ — Private corporate 6,818 232 124 6,926 — U.S. Treasury, government and agency 8,800 280 305 8,775 — States and political subdivisions 437 68 1 504 — Foreign governments 397 36 18 415 — Commercial mortgage-backed 591 29 87 533 9 Residential mortgage-backed (1) 608 32 — 640 — Asset-backed (2) 68 10 1 77 3 Redeemable preferred stock 592 57 2 647 — Total Fixed Maturities 31,201 1,432 740 31,893 12 Equity securities 34 — 2 32 — Total at December 31, 2015 $ 31,235 $ 1,432 $ 742 $ 31,925 $ 12 (1) Includes publicly traded agency pass-through securities and collateralized mortgage obligations. (2) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (3) Amounts represent OTTI losses in AOCI, which were not included in earnings (loss) in accordance with current accounting guidance.
Available-for-sale Securities Fixed Maturities Contractual Maturities	The contractual maturities of AFS fixed maturities at March 31, 2016 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Available-for-Sale Fixed Maturities Contractual Maturities at March 31, 2016 Amortized Cost Fair Value (In Millions) Due in one year or less $ 1,248 $ 1,259 Due in years two through five 7,527 8,009 Due in years six through ten 10,223 10,562 Due after ten years 11,786 12,905 Subtotal 30,784 32,735 Commercial mortgage-backed securities 541 471 Residential mortgage-backed securities 582 617 Asset-backed securities 60 68 Redeemable preferred stock 569 629 Total $ 32,536 $ 34,520
Proceeds from Sales, Gross Gains (Losses) and OTTI for AFS Fixed Maturities	The following table shows proceeds from sales, gross gains (losses) from sales and OTTI for AFS fixed maturities during the first quarters of 2016 and 2015 : Three Months Ended March 31, 2016 2015 (In Millions) Proceeds from sales $ 389 $ 360 Gross gains on sales $ 19 $ 5 Gross losses on sales $ (21 ) $ (4 ) Total OTTI $ (17 ) $ (2 ) Non-credit losses recognized in OCI — — Credit losses recognized in earnings (loss) $ (17 ) $ (2 )
Fixed Maturities - Credit Loss Impairments	The following table sets forth the amount of credit loss impairments on fixed maturity securities held by the Company at the dates indicated and the corresponding changes in such amounts. Fixed Maturities - Credit Loss Impairments 2016 2015 (In Millions) Balances, beginning of period $ (198 ) $ (254 ) Previously recognized impairments on securities that matured, paid, prepaid or sold 34 18 Recognized impairments on securities impaired to fair value this period (1) (17 ) — Impairments recognized this period on securities not previously impaired — (2 ) Additional impairments this period on securities previously impaired — — Increases due to passage of time on previously recorded credit losses — — Accretion of previously recognized impairments due to increases in expected cash flows — — Balances at March 31, $ (181 ) $ (238 ) (1) Represents circumstances where the Company determined in the current period that it intends to sell the security or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost.
Net Unrealized Gain (Loss) on Fixed Maturities and Equity Securities Included in AOCI	Net unrealized investment gains (losses) on fixed maturities and equity securities classified as AFS are included in the consolidated balance sheets as a component of AOCI. The table below presents these amounts as of the dates indicated: March 31, 2016 December 31, 2015 (In Millions) AFS Securities: Fixed maturities: With OTTI loss $ 9 $ 16 All other 1,975 676 Equity securities — (2 ) Net Unrealized Gains (Losses) $ 1,984 $ 690
Net Unrealized Gain (Losses) on Fixed Maturities with OTTI Losses	The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI, split between amounts related to fixed maturity securities on which an OTTI loss has been recognized and all other amounts: Net Unrealized Gains (Losses) on Fixed Maturities with OTTI Losses Net DAC Policyholders’ Deferred AOCI Gain (In Millions) Balance, January 1, 2016 $ 16 $ — $ (4 ) $ (5 ) $ 7 Net investment gains (losses) arising during the period 10 — — — 10 Reclassification adjustment for OTTI losses: Included in Net earnings (loss) (17 ) — — — (17 ) Excluded from Net earnings (loss) — — — — — Impact of net unrealized investment gains (losses) on: DAC — — — — — Deferred income taxes — — — 1 1 Policyholders’ liabilities — — 4 — 4 Balance, March 31, 2016 $ 9 $ — $ — $ (4 ) $ 5 Balance, January 1, 2015 $ 10 $ — $ — $ (4 ) $ 6 Net investment gains (losses) arising during the period (6 ) — — — (6 ) Reclassification adjustment for OTTI losses: Included in Net earnings (loss) 2 — — — 2 Excluded from Net earnings (loss) — — — — — Impact of net unrealized investment gains (losses) on: DAC — — — — — Deferred income taxes — — — 1 1 Policyholders’ liabilities — — 1 — 1 Balance, March 31, 2015 $ 6 $ — $ 1 $ (3 ) $ 4
All Other Net Unrealized Investment Gains (Losses) in AOCI	All Other Net Unrealized Investment Gains (Losses) in AOCI Net DAC Policyholders’ Deferred AOCI Gain (In Millions) Balance, January 1, 2016 $ 674 $ (82 ) $ (213 ) $ (133 ) $ 246 Net investment gains (losses) arising during the period 1,262 — — — 1,262 Reclassification adjustment for OTTI losses: Included in Net earnings (loss) 16 — — — 16 Excluded from Net earnings (loss) (1) 23 — — — 23 Impact of net unrealized investment gains (losses) on: DAC — 25 — — 25 Deferred income taxes — — — (432 ) (432 ) Policyholders’ liabilities — — (93 ) — (93 ) Balance, March 31, 2016 $ 1,975 $ (57 ) $ (306 ) $ (565 ) $ 1,047 Balance, January 1, 2015 $ 2,231 $ (122 ) $ (368 ) $ (610 ) $ 1,131 Net investment gains (losses) arising during the period 600 — — — 600 Reclassification adjustment for OTTI losses: Included in Net earnings (loss) (4 ) — — — (4 ) Excluded from Net earnings (loss) (1) — — — — — Impact of net unrealized investment gains (losses) on: DAC — (15 ) — — (15 ) Deferred income taxes — — — (184 ) (184 ) Policyholders’ liabilities — — (62 ) — (62 ) Balance, March 31, 2015 $ 2,827 $ (137 ) $ (430 ) $ (794 ) $ 1,466 (1) Represents “transfers out” related to the portion of OTTI losses during the period that were not recognized in earnings (loss) for securities with no prior OTTI loss.
Schedule of Gross Unrealized Loss on Investments	The following tables disclose the fair values and gross unrealized losses of the 522 issues at March 31, 2016 and the 810 issues at December 31, 2015 of fixed maturities that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated: Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) March 31, 2016: Fixed Maturity Securities: Public corporate $ 1,001 $ 45 $ 568 $ 47 $ 1,569 $ 92 Private corporate 617 23 450 31 1,067 54 U.S. Treasury, government and agency 808 8 1,380 68 2,188 76 States and political subdivisions — — 19 1 19 1 Foreign governments 45 2 47 9 92 11 Commercial mortgage-backed 50 5 245 91 295 96 Residential mortgage-backed 40 — 28 — 68 — Asset-backed 1 — 14 1 15 1 Redeemable preferred stock 54 — 12 1 66 1 Total $ 2,616 $ 83 $ 2,763 $ 249 $ 5,379 $ 332 December 31, 2015: Fixed Maturity Securities: Public corporate $ 3,091 $ 129 $ 359 $ 73 $ 3,450 $ 202 Private corporate 1,926 102 184 22 2,110 124 U.S. Treasury, government and agency 3,538 305 — — 3,538 305 States and political subdivisions 19 1 — — 19 1 Foreign governments 73 7 39 11 112 18 Commercial mortgage-backed 67 2 261 85 328 87 Residential mortgage-backed 11 — 29 — 40 — Asset-backed 11 — 17 1 28 1 Redeemable preferred stock 43 — 40 2 83 2 Total $ 8,779 $ 546 $ 929 $ 194 $ 9,708 $ 740
Net Investment Income (Loss) from Trading Securities	The table below shows a breakdown of Net investment income from trading account securities during the first quarters of 2016 and 2015 : Net investment income (loss) from trading securities March 31, 2016 2015 Net investment gains (losses) recognized during the period on securities held at the end of the period $ 64 $ 33 Net investment gains (losses) recognized on securities sold during the period (6 ) — Unrealized and realized gains (losses) on trading securities arising during the period 58 33 Interest and dividend income from trading securities 19 2 Net investment income (loss) from trading securities $ 77 $ 35
Troubled Debt Restructurings - Modifications	Troubled Debt Restructuring - Modifications March 31, 2016 Number of Loans Outstanding Recorded Investment Pre-Modification Post - Modification (In Millions) Commercial mortgage loans 1 16 16
Valuation Allowance for Mortgage Loans	Allowance for credit losses for commercial mortgage loans for the first quarters of 2016 and 2015 was as follows: 2016 2015 Allowance for credit losses: (In Millions) Beginning balance, January 1, $ 6 $ 37 Charge-offs — — Recoveries — — Provision 1 — Ending balance, March 31, $ 7 $ 37 Ending balance, March 31, Individually Evaluated for Impairment $ 7 $ 37
Mortgage Loans by Loan-To-Value and Debt Service Coverage Ratios	The following tables provide information relating to the loan-to-value and debt service coverage ratio for commercial and agricultural mortgage loans at March 31, 2016 and December 31, 2015 , before adjustments for valuation allowance. Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios March 31, 2016 Debt Service Coverage Ratio Loan-to-Value Ratio: (2) Greater than 2.0x 1.8x to 2.0x 1.5x to 1.8x 1.2x to 1.5x 1.0x to 1.2x Less than 1.0x Total Mortgage Loans (In Millions) Commercial Mortgage Loans (1) 0% - 50% $ 715 $ 45 $ 57 $ 12 $ 24 $ — $ 853 50% - 70% 1,713 396 739 821 77 — 3,746 70% - 90% 118 46 206 194 88 46 698 90% plus 62 — — 16 — — 78 Total Commercial Mortgage Loans $ 2,608 $ 487 $ 1,002 $ 1,043 $ 189 $ 46 $ 5,375 Agricultural Mortgage Loans (1) 0% - 50% $ 218 $ 130 $ 269 $ 430 $ 248 $ 45 $ 1,340 50% - 70% 142 70 187 318 224 41 982 70% - 90% — — 2 4 — — 6 90% plus — — — — — — — Total Agricultural Mortgage Loans $ 360 $ 200 $ 458 $ 752 $ 472 $ 86 $ 2,328 Total Mortgage Loans (1) 0% - 50% $ 933 $ 175 $ 326 $ 442 $ 272 $ 45 $ 2,193 50% - 70% 1,855 466 926 1,139 301 41 4,728 70% - 90% 118 46 208 198 88 46 704 90% plus 62 — — 16 — — 78 Total Mortgage Loans $ 2,968 $ 687 $ 1,460 $ 1,795 $ 661 $ 132 $ 7,703 (1) The debt service coverage ratio is calculated using the most recently reported net operating income results from property operations divided by annual debt service. (2) The loan-to-value ratio is derived from current loan balance divided by the fair market value of the property. The fair market value of the underlying commercial properties is updated annually. Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios December 31, 2015 Debt Service Coverage Ratio Loan-to-Value Ratio: (2) Greater than 2.0x 1.8x to 2.0x 1.5x to 1.8x 1.2x to1.5x 1.0x to 1.2x Less than 1.0x Total Mortgage Loans (In Millions) Commercial Mortgage Loans (1) 0% - 50% $ 533 $ — $ 102 $ 12 $ 24 $ — $ 671 50% - 70% 1,392 353 741 853 77 — 3,416 70% - 90% 141 — 206 134 124 46 651 90% plus 63 — — 46 — — 109 Total Commercial Mortgage Loans $ 2,129 $ 353 $ 1,049 $ 1,045 $ 225 $ 46 $ 4,847 Agricultural Mortgage Loans (1) 0% - 50% $ 204 $ 116 $ 277 $ 432 $ 256 $ 51 $ 1,336 50% - 70% 146 80 192 298 225 47 988 70% - 90% — — 2 4 — — 6 90% plus — — — — — — — Total Agricultural Mortgage Loans $ 350 $ 196 $ 471 $ 734 $ 481 $ 98 $ 2,330 Total Mortgage Loans (1) 0% - 50% $ 737 $ 116 $ 379 $ 444 $ 280 $ 51 $ 2,007 50% - 70% 1,538 433 933 1,151 302 47 4,404 70% - 90% 141 — 208 138 124 46 657 90% plus 63 — — 46 — — 109 Total Mortgage Loans $ 2,479 $ 549 $ 1,520 $ 1,779 $ 706 $ 144 $ 7,177 (1) The debt service coverage ratio is calculated using the most recently reported net operating income results from property operations divided by annual debt service. (2) The loan-to-value ratio is derived from current loan balance divided by the fair market value of the property. The fair market value of the underlying commercial properties is updated annually.
Age Analysis of Past Due Mortgage Loans	The following table provides information relating to the aging analysis of past due mortgage loans at March 31, 2016 and December 31, 2015 , respectively, before adjustments for valuation allowance. Age Analysis of Past Due Mortgage Loans 30-59 Days 60-89 Days 90 Days or > Total Current Total Financing Receivables Recorded Investment > 90 Days and Accruing (In Millions) March 31, 2016 Commercial $ — $ — $ — $ — $ 5,375 $ 5,375 $ — Agricultural 2 44 2 48 2,280 2,328 2 Total Mortgage Loans $ 2 $ 44 $ 2 $ 48 $ 7,655 $ 7,703 $ 2 December 31, 2015 Commercial $ — $ — $ 30 $ 30 $ 4,817 $ 4,847 $ — Agricultural 12 7 4 23 2,307 2,330 4 Total Mortgage Loans $ 12 $ 7 $ 34 $ 53 $ 7,124 $ 7,177 $ 4
Impaired Mortgage Loans	The following table provides information regarding impaired mortgage loans at March 31, 2016 and December 31, 2015 , respectively. Impaired Mortgage Loans Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment (1) Interest Income Recognized (In Millions) March 31, 2016: With no related allowance recorded: Commercial mortgage loans - other $ 16 $ 16 $ — $ 31 $ — Agricultural mortgage loans — — — — — Total $ 16 $ 16 $ — $ 31 $ — With related allowance recorded: Commercial mortgage loans - other $ 61 $ 61 $ (7 ) $ 62 $ 1 Agricultural mortgage loans — — — — — Total $ 61 $ 61 $ (7 ) $ 62 $ 1 December 31, 2015: With no related allowance recorded: Commercial mortgage loans - other $ 46 $ 46 $ — $ 15 $ — Agricultural mortgage loans — — — — — Total $ 46 $ 46 $ — $ 15 $ — With related allowance recorded: Commercial mortgage loans - other $ 63 $ 63 $ (6 ) $ 137 $ 4 Agricultural mortgage loans — — — — — Total $ 63 $ 63 $ (6 ) $ 137 $ 4 (1) Represents a two-quarter average of recorded amortized cost.
Derivative Instruments by Category	The tables below present quantitative disclosures about the Company’s derivative instruments, including those embedded in other contracts required to be accounted for as derivative instruments. Derivative Instruments by Category At March 31, 2016 Gains (Losses) Fair Value Notional Amount Asset Derivatives Liability Derivatives (In Millions) Freestanding derivatives: Equity contracts: (1) Futures $ 7,530 $ — $ 3 $ (86 ) Swaps 1,577 1 84 (9 ) Options 7,992 1,102 683 34 Interest rate contracts: (1) Floors 1,500 50 — 4 Swaps 15,284 608 57 851 Futures 8,626 — — (46 ) Credit contracts: (1) Credit default swaps 2,470 15 26 1 Other freestanding contracts: (1) Foreign currency contracts 198 5 6 (1 ) Net investment income (loss) 748 Embedded derivatives: GMIB reinsurance contracts — 12,207 — 1,637 GIB and GWBL and Other Features (2) — — 265 (81 ) SCS, SIO, MSO and IUL indexed features (3) — — 336 (33 ) Total $ 45,177 $ 13,988 $ 1,460 $ 2,271 (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (3) SCS and SIO indexed features are reported in Policyholders’ account balances; MSO and IUL indexed features are reported in Future policyholders’ benefits and other policyholders’ liabilities in the consolidated balance sheets. At December 31, 2015 Gains (Losses) Fair Value Notional Amount Asset Derivatives Liability Derivatives (In Millions) Freestanding derivatives: Equity contracts: (1) Futures $ 7,089 $ 2 $ 3 $ (185 ) Swaps 1,359 8 21 (57 ) Options 7,358 1,042 652 81 Interest rate contracts: (1) Floors 1,800 61 — 8 Swaps 13,718 351 108 369 Futures 8,685 — — (2 ) Swaptions — — — 118 Credit contracts: (1) Credit default swaps 2,442 16 38 2 Other freestanding contracts: (1) Foreign currency contracts 263 5 4 3 Net investment income (loss) 337 Embedded derivatives: GMIB reinsurance contracts — 10,570 — 690 GIB and GWBL and Other Features (2) — — 184 (39 ) SCS, SIO, MSO and IUL indexed features (3) — — 310 (82 ) Total $ 42,714 $ 12,055 $ 1,320 $ 906 (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (3) SCS and SIO indexed features are reported in Policyholders’ account balances; MSO and IUL indexed features are reported in Future policyholders’ benefits and other policyholders’ liabilities in the consolidated balance sheets
Offsetting Financial Assets and Liabilities and Derivative Instruments	The following table presents information about the Insurance segment’s offsetting financial assets and liabilities and derivative instruments at December 31, 2015 . Offsetting Financial Assets and Liabilities and Derivative Instruments At December 31, 2015 Gross Amounts Recognized Gross Amounts Offset in the Balance Sheets Net Amounts Presented in the Balance Sheets (In Millions) ASSETS (1) Description Derivatives: Equity contracts $ 1,049 $ 673 $ 376 Interest rate contracts 389 104 285 Credit contracts 14 37 (23 ) Total Derivatives, subject to an ISDA Master Agreement 1,452 814 638 Total Derivatives, not subject to an ISDA Master Agreement 20 — 20 Total Derivatives 1,472 814 658 Other financial instruments (2)(4) 1,271 — 1,271 Other invested assets (2) $ 2,743 $ 814 $ 1,929 Securities purchased under agreement to resell $ 79 $ — $ 79 LIABILITIES (3) Description Derivatives: Equity contracts $ 673 $ 673 $ — Interest rate contracts 104 104 — Credit contracts 37 37 — Total Derivatives, subject to an ISDA Master Agreement 814 814 — Total Derivatives, not subject to an ISDA Master Agreement — — — Total Derivatives 814 814 — Other financial liabilities 2,586 — 2,586 Other liabilities $ 3,400 $ 814 $ 2,586 Securities sold under agreement to repurchase $ 1,890 $ — $ 1,890 (1) Excludes Investment Management segment’s $13 million net derivative assets, $6 million long exchange traded options and $75 million of securities borrowed. (2) Includes $141 million of accrued interest related to derivative instruments reported in other assets on the consolidated balance sheets. (3) Excludes Investment Management segment’s $12 million net derivative liabilities, $1 million short exchange traded options and $10 million of securities loaned. (4) Includes initial margin of $ (2) million related to derivative instruments. The following table presents information about the Insurance Segment’s offsetting financial assets and liabilities and derivative instruments at March 31, 2016 . Offsetting Financial Assets and Liabilities and Derivative Instruments At March 31, 2016 Gross Amounts Recognized Gross Amounts Offset in the Balance Sheets Net Amounts Presented in the Balance Sheets (In Millions) ASSETS (1) Description Derivatives: Equity contracts $ 1,103 $ 764 $ 339 Interest rate contracts 639 54 585 Credit contracts 13 26 (13 ) Total Derivatives, subject to an ISDA Master Agreement 1,755 844 911 Total Derivatives, not subject to an ISDA Master Agreement 16 — 16 Total Derivatives 1,771 844 927 Other financial instruments (2)(4) 1,317 — 1,317 Other invested assets (2) $ 3,088 $ 844 $ 2,244 Securities purchased under agreement to resell $ 205 $ — $ 205 LIABILITIES (3) Description Derivatives: Equity contracts $ 764 $ 764 $ — Interest rate contracts 54 54 — Credit contracts 26 26 — Total Derivatives, subject to an ISDA Master Agreement 844 844 — Total Derivatives, not subject to an ISDA Master Agreement — — — Total Derivatives 844 844 — Other financial liabilities 2,841 — 2,841 Other liabilities $ 3,685 $ 844 $ 2,841 Securities sold under agreement to repurchase $ 2,038 $ — $ 2,038 (1) Excludes Investment Management segment’s $ 76 million net derivative assets (including derivative assets of consolidated VIEs), $ 5 million long exchange traded options and $ 26 million of securities borrowed. (2) Includes $ 101 million of accrued interest related to derivative instruments reported in other assets on the consolidated balance sheets. (3) Excludes Investment Management segment’s $ 81 million net derivative liabilities (including derivative liabilities of consolidated VIEs), $ 3 million short exchange traded options and $ 17 million of securities loaned. (4) Includes margin of $ 5 million related to derivative instruments.
Gross Collateral Amounts Not Offset in Consolidated Balance Sheets	The following table presents information about the Insurance segment’s gross collateral amounts that are not offset in the consolidated balance sheets at December 31, 2015 . Gross Collateral Amounts Not Offset in the Consolidated Balance Sheets At December 31, 2015 Net Amounts Presented in the Balance Sheets Collateral (Received)/Held Financial Instruments Cash Net Amounts (In Millions) ASSETS: (1) Counterparty A $ 52 $ — $ (52 ) $ — Counterparty B 9 — (7 ) 2 Counterparty C 61 — (58 ) 3 Counterparty D 222 — (218 ) 4 Counterparty E 53 — (53 ) — Counterparty F (2 ) — 2 — Counterparty G 129 — (129 ) — Counterparty H 16 (11 ) (5 ) — Counterparty I 44 — (39 ) 5 Counterparty J 19 — (13 ) 6 Counterparty K 17 — (17 ) — Counterparty L 7 — (7 ) — Counterparty M 11 — (10 ) 1 Counterparty N 20 — — 20 Counterparty Q — — — — Counterparty T (3 ) — 3 — Counterparty U — — 1 1 Counterparty V 3 — (3 ) — Total Derivatives $ 658 $ (11 ) $ (605 ) $ 42 Other financial instruments (2)(4) 1,271 — — 1,271 Other invested assets (2) $ 1,929 $ (11 ) $ (605 ) $ 1,313 Counterparty M $ 28 $ (28 ) $ — $ — Counterparty V 51 (51 ) — — Securities purchased under agreement to resell $ 79 $ (79 ) $ — $ — LIABILITIES (3) Counterparty D $ 234 $ (234 ) $ — $ — Counterparty C 1,033 (1,016 ) (17 ) — Counterparty M 623 (611 ) (12 ) — Securities sold under agreement to repurchase $ 1,890 $ (1,861 ) $ (29 ) $ — (1) Excludes Investment Management segment’s cash collateral received of $2 million related to derivative assets and $75 million related to securities borrowed. (2) Includes $141 million of accrued interest related to derivative instruments reported in other assets on the consolidated balance sheets. (3) Excludes Investment Management segment’s cash collateral pledged of $12 million related to derivative liabilities and $10 million related to securities loaned. (4) Includes initial margin of $ (2) million related to derivative instruments. The following table presents information about the Insurance segment’s gross collateral amounts that are not offset in the consolidated balance sheets at March 31, 2016 . Gross Collateral Amounts Not Offset in the Consolidated Balance Sheets At March 31, 2016 Net Amounts Presented in the Balance Sheets Collateral (Received)/Held Financial Instruments Cash Net Amounts (In Millions) ASSETS: (1) Counterparty A $ 55 $ — $ (50 ) $ 5 Counterparty B 18 — (18 ) — Counterparty C 105 — (105 ) — Counterparty D 246 — (241 ) 5 Counterparty E 67 — (64 ) 3 Counterparty F 12 — (12 ) — Counterparty G 136 — (134 ) 2 Counterparty H 11 (11 ) — — Counterparty I 108 — (108 ) — Counterparty J 40 — (28 ) 12 Counterparty K 25 — (18 ) 7 Counterparty L 5 — (5 ) — Counterparty M 60 — (60 ) — Counterparty N 16 — — 16 Counterparty Q — — 1 1 Counterparty T 10 — (10 ) — Counterparty U 5 — (4 ) 1 Counterparty V 8 — (7 ) $ 1 Total derivatives $ 927 $ (11 ) $ (863 ) $ 53 Other financial instruments (4) 1,317 — — 1,317 Other invested assets (2) $ 2,244 $ (11 ) $ (863 ) $ 1,370 Counterparty M $ 205 $ (205 ) $ — $ — Securities purchased under agreement to resell $ 205 $ (205 ) $ — $ — LIABILITIES: (3) — Counterparty D $ 675 $ (675 ) $ — $ — Counterparty M 398 (398 ) — — Counterparty H 965 (965 ) — — Securities sold under agreement to repurchase $ 2,038 $ (2,038 ) $ — $ — (1) Excludes Investment Management segment’s cash collateral received of $ 3 million related to derivative assets (including those related to derivative assets of consolidated VIEs) and $ 26 million related to securities borrowed. (2) Includes $ 101 million of accrued interest related to derivative instruments reported in other assets on the consolidated balance sheets. (3) Excludes Investment Management segment’s cash collateral pledged of $ 21 million related to derivative liabilities (including those related to derivative liabilities of consolidated VIEs) and $ 17 million related to securities loaned. (4) Includes initial margin of $ (5) million related to derivative instruments.
Repurchase Agreements Accounted for as Secured Borrowings	The following table presents information about repurchase agreements accounted for as secured borrowings in the consolidated balance sheets at December 31, 2015 . Repurchase Agreement Accounted for as Secured Borrowings (1) At December 31, 2015 Remaining Contractual Maturity of the Agreements Overnight and Continuous Up to 30 days 30–90 days Greater Than 90 days Total (In Millions) Securities sold under agreement to repurchase U.S. Treasury and agency securities $ — $ 1,865 $ 25 $ — $ 1,890 Total $ — $ 1,865 $ 25 $ — $ 1,890 Securities purchased under agreement to resell Corporate securities $ — $ 79 $ — $ — $ 79 Total $ — $ 79 $ — $ — $ 79 (1) Excludes Investment Management segment’s $ 75 million of securities borrowed and $ 10 million of securities loaned. The following table presents information about repurchase agreements accounted for as secured borrowings in the consolidated balance sheets at March 31, 2016 . Repurchase Agreement Accounted for as Secured Borrowings (1) At March 31, 2016 Remaining Contractual Maturity of the Agreements Overnight and Continuous Up to 30 days 30–90 days Greater Than 90 days Total (In Millions) Securities sold under agreement to repurchase U.S. Treasury and agency securities $ — $ 2,038 $ — $ — $ 2,038 Total $ — $ 2,038 $ — $ — $ 2,038 Securities purchased under agreement to resell Corporate securities $ — $ 205 $ — $ — $ 205 Total $ — $ 205 $ — $ — $ 205 (1) Excludes Investment Management segment’s $ 26 million of securities borrowed and $ 17 million of securities loaned.

CLOSED BLOCK (Tables)

CLOSED BLOCK (Tables)	3 Months Ended
	Mar. 31, 2016
Closed Block Disclosure [Abstract]
Summarized Financial Information for Closed Blocks	Summarized financial information for the Closed Block follows: March 31, December 31, (In Millions) CLOSED BLOCK LIABILITIES: Future policy benefits, policyholders’ account balances and other $ 7,296 $ 7,363 Policyholder dividend obligation 160 81 Other liabilities 71 100 Total Closed Block liabilities 7,527 7,544 ASSETS DESIGNATED TO THE CLOSED BLOCK: Fixed maturities, available for sale, at fair value (amortized cost of $4,216 and $4,426) 4,466 4,599 Mortgage loans on real estate 1,738 1,575 Policy loans 872 881 Cash and other invested assets 101 49 Other assets 177 258 Total assets designated to the Closed Block 7,354 7,362 Excess of Closed Block liabilities over assets designated to the Closed Block 173 182 Amounts included in accumulated other comprehensive income (loss): Net unrealized investment gains (losses), net of deferred income tax (expense) benefit of $(35) and $(36) and policyholder dividend obligation of $(160) and $(81) 65 67 Maximum Future Earnings To Be Recognized From Closed Block Assets and Liabilities $ 238 $ 249
Closed Block Revenues and Expenses	Closed Block revenues and expenses were as follows: Three Months Ended March 31, 2016 2015 (In Millions) REVENUES: Premiums and other income $ 63 $ 69 Net investment income (loss) 89 92 Net investment gains (losses) 1 1 Total revenues 153 162 BENEFITS AND OTHER DEDUCTIONS: Policyholders’ benefits and dividends 136 153 Other operating costs and expenses — — Total benefits and other deductions 136 153 Net revenues (loss) before income taxes 17 9 Income tax (expense) benefit (6 ) (3 ) Net Revenues (Losses) $ 11 $ 6
Reconciliation of Policy Holder Dividend Obligation	Reconciliation of the policyholder dividend obligation follows: Three Months Ended March 31, 2016 2015 (In Millions) Balances, beginning of year $ 81 $ 201 Unrealized investment gains (losses), net of DAC 79 29 Balances, End of Period $ 160 $ 230

GMDB, GMIB, GIB, GWBL AND OTH25

GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES (Tables)	3 Months Ended
	Mar. 31, 2016
Variable Annuity Contracts-GMDB GMIB And GWBL [Abstract]
GMDB and GMIB Liabilities and Other Policyholder's Liabilities	The following table summarizes the GMDB and GMIB liabilities, before reinsurance ceded, reflected in the General Account in future policy benefits and other policyholders’ liabilities: GMDB GMIB Total (In Millions) Balance at January 1, 2016 $ 2,986 $ 5,297 $ 8,283 Paid guarantee benefits (97 ) (188 ) (285 ) Other changes in reserve 195 509 704 Balance at March 31, 2016 $ 3,084 $ 5,618 $ 8,702 Balance at January 1, 2015 $ 1,729 $ 5,644 $ 7,373 Paid guarantee benefits (65 ) (14 ) (79 ) Other changes in reserve 97 311 408 Balance at March 31, 2015 $ 1,761 $ 5,941 $ 7,702
GMDB Reinsurance Ceded	Related GMDB reinsurance ceded amounts were: Three Months Ended March 31, 2016 2015 (In Millions) Balance, beginning of year $ 1,430 $ 832 Paid guarantee benefits (47 ) (30 ) Other changes in reserve 116 46 Balance, End of Period $ 1,499 $ 848
Variable Annuity Contracts with GMDB and GMIB Features	The March 31, 2016 values for variable annuity contracts in-force on such date with GMDB and GMIB features are presented in the following table. For contracts with the GMDB feature, the net amount at risk in the event of death is the amount by which the GMDB benefits exceed related account values. For contracts with the GMIB feature, the net amount at risk in the event of annuitization is the amount by which the present value of the GMIB benefits exceeds related account values, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. Since variable annuity contracts with GMDB guarantees may also offer GMIB guarantees in the same contract, the GMDB and GMIB amounts listed are not mutually exclusive: Return of Premium Ratchet Roll-Up Combo Total (Dollars In Millions) GMDB: Account values invested in: General Account $ 13,178 $ 129 $ 77 $ 240 $ 13,624 Separate Accounts $ 38,391 $ 8,542 $ 3,396 $ 33,344 $ 83,673 Net amount at risk, gross $ 397 $ 423 $ 2,411 $ 16,347 $ 19,578 Net amount at risk, net of amounts reinsured $ 397 $ 301 $ 1,637 $ 7,089 $ 9,424 Average attained age of contractholders 51.2 65.5 71.9 66.6 55.0 Percentage of contractholders over age 70 9.1 % 35.7 % 58.6 % 38.8 % 16.7 % Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% GMIB: Account values invested in: General Account N/A N/A $ 37 $ 344 $ 381 Separate Accounts N/A N/A $ 16,066 $ 39,714 $ 55,780 Net amount at risk, gross N/A N/A $ 1,332 $ 8,157 $ 9,489 Net amount at risk, net of amounts reinsured N/A N/A $ 397 $ 2,118 $ 2,515 Weighted average years remaining until annuitization N/A N/A 1.4 1.7 1.7 Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5%
Investment in Variable Insurance Trust Mutual Funds	The following table presents the aggregate fair value of assets, by major investment category, held by Separate Accounts that support variable annuity contracts with GMDB and GMIB benefits and guarantees. The investment performance of the assets impacts the related account values and, consequently, the net amount of risk associated with the GMDB and GMIB benefits and guarantees. Since variable annuity contracts with GMDB benefits and guarantees may also offer GMIB benefits and guarantees in each contract, the GMDB and GMIB amounts listed are not mutually exclusive: Investment in Variable Insurance Trust Mutual Funds March 31, December 31, (In Millions) GMDB: Equity $ 65,761 $ 66,230 Fixed income 2,708 2,686 Balanced 14,822 15,350 Other 382 374 Total $ 83,673 $ 84,640 GMIB: Equity $ 43,452 $ 43,874 Fixed income 1,818 1,819 Balanced 10,344 10,696 Other 166 170 Total $ 55,780 $ 56,559
Summary of no-Lapse Guarantee Liabilities and Other Policyholder's Liabilities	The following table summarizes the no lapse guarantee liabilities reflected in the Balance Sheet in Future policy benefits and other policyholders’ liabilities and the related reinsurance ceded: Direct Liability Reinsurance Ceded Net (In Millions) Balance at January 1, 2016 $ 1,084 $ (539 ) $ 545 Other changes in reserves 50 (22 ) 28 Balance at March 31, 2016 $ 1,134 $ (561 ) $ 573 Balance at January 1, 2015 $ 964 $ (555 ) $ 409 Other changes in reserves 46 (23 ) 23 Balance at March 31, 2015 $ 1,010 $ (578 ) $ 432

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	Fair Value Measurements at March 31, 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ — $ 20,342 $ 498 $ 20,840 U.S. Treasury, government and agency — 11,006 — 11,006 States and political subdivisions — 472 45 517 Foreign governments — 372 — 372 Commercial mortgage-backed — 23 448 471 Residential mortgage-backed (1) — 617 — 617 Asset-backed (2) — 31 37 68 Redeemable preferred stock 237 392 — 629 Subtotal 237 33,255 1,028 34,520 Other equity investments 85 — 8 93 Assets of consolidated VIEs: Investments 77 151 15 243 Other asset - derivatives — 66 — 66 Trading securities 559 6,563 2 7,124 Other invested assets: Short-term investments — 463 — 463 Swaps — 468 — 468 Credit Default Swaps — (11 ) — (11 ) Futures (3 ) — — (3 ) Options — 419 — 419 Floors — 50 — 50 Margin (5 ) — — (5 ) Currency Contracts — (1 ) — (1 ) Subtotal (8 ) 1,388 — 1,380 Cash equivalents 2,463 — — 2,463 Segregated securities — 724 — 724 GMIB reinsurance contract asset — — 12,207 12,207 Separate Accounts’ assets 103,537 2,841 323 106,701 Total Assets $ 106,950 $ 44,988 $ 13,583 $ 165,521 Liabilities GWBL and Other Features’ liability $ — $ — $ 265 $ 265 SCS, SIO, MSO and IUL indexed features’ liability — 336 — 336 Liabilities of consolidated VIEs - Derivatives — 66 — 66 Contingent payment arrangements 31 31 Total Liabilities $ — $ 402 $ 296 $ 698 (1) Includes publicly traded agency pass-through securities and collateralized obligations. (2) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. Fair Value Measurements at December 31, 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ — $ 19,882 $ 420 $ 20,302 U.S. Treasury, government and agency — 8,775 — 8,775 States and political subdivisions — 459 45 504 Foreign governments — 414 1 415 Commercial mortgage-backed — 30 503 533 Residential mortgage-backed (1) — 640 — 640 Asset-backed (2) — 37 40 77 Redeemable preferred stock 258 389 — 647 Subtotal 258 30,626 1,009 31,893 Other equity investments 97 — 49 146 Trading securities 654 6,151 — 6,805 Other invested assets: Short-term investments — 369 — 369 Swaps — 230 — 230 Credit Default Swaps — (22 ) — (22 ) Futures (1 ) — — (1 ) Options — 390 — 390 Floors — 61 — 61 Currency Contracts — 1 — 1 Subtotal (1 ) 1,029 — 1,028 Cash equivalents 2,150 — — 2,150 Segregated securities — 565 — 565 GMIB reinsurance contract asset — — 10,570 10,570 Separate Accounts’ assets 104,058 2,964 313 107,335 Total Assets $ 107,216 $ 41,335 $ 11,941 $ 160,492 Liabilities: GWBL and Other Features’ liability $ — $ — $ 184 $ 184 SCS, SIO, MSO and IUL indexed features’ liability — 310 — 310 Contingent payment arrangements — — 31 31 Total Liabilities $ — $ 310 $ 215 $ 525 (1) Includes publicly traded agency pass-through securities and collateralized obligations. (2) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The table below presents a reconciliation for all Level 3 assets and liabilities for the first quarters of 2016 and 2015 , respectively: Level 3 Instruments Fair Value Measurements Corporate State and Political Sub- divisions Foreign Govts Commercial Mortgage- backed Residential Mortgage- backed Asset- backed (In Millions) Balance, January 1, 2016 $ 420 $ 45 1 503 $ — $ 40 Total gains (losses), realized and unrealized, included in: Earnings (loss) as: Net investment income (loss) — — — — — — Investment gains (losses), net — — — (6 ) — — Subtotal — — — (6 ) — — Other comprehensive income (loss) 10 — — (12 ) — — Purchases 62 — — — — — Issues — — — — — — Sales (36 ) — — (34 ) — (3 ) Settlements — — — — — — Transfers into Level 3 (1) 42 — — — — — Transfers out of Level 3 (1) — — (1 ) (3 ) — — Balance, March 31, 2016 $ 498 $ 45 — 448 $ — $ 37 Balance, January 1, 2015 $ 380 $ 47 — 715 $ 2 $ 53 Total gains (losses), realized and unrealized, included in: Earnings (loss) as: Net investment income (loss) — — — — — — Investment gains (losses), net — — — (2 ) — — Subtotal — — — (2 ) — — Other comprehensive income (loss) 4 1 — 13 — (1 ) Purchases 30 — — — — — Issues — — — — — — Sales (8 ) — — (25 ) — (1 ) Transfers into Level 3 (1) 39 — 2 — — — Transfers out of Level 3 (1) (46 ) — — (15 ) — — Balance, March 31, 2015 $ 399 $ 48 2 686 $ 2 $ 51 Redeemable Preferred Stock Other Equity Investments (2) GMIB Reinsurance Asset Separate Accounts Assets GWBL and Other Features’ Liability Contingent Payment Arrangement (In Millions) Balance, January 1, 2016 $ — $ 17 $ 10,570 $ 313 $ 184 $ 31 Total gains (losses), realized and unrealized, included in: Earnings (loss) as: Net investment income (loss) — — — — — 1 Investment gains (losses), net — — — 7 — — Increase (decrease) in the fair value of the reinsurance contract asset — — 1,598 — — — Policyholders’ benefits — — — — 30 — Subtotal — — 1,598 7 30 1 Other comprehensive income (loss) — — — — — — Purchases (3) — 2 55 6 51 — Issues — — — — — — Sales (4) — — (16 ) — — — Settlements (5) — — — (3 ) — (1 ) Transfers into Level 3 (1) — 6 — — — — Transfers out of Level 3 (1) — — — — — — Balance, March 31, 2016 $ — $ 25 $ 12,207 $ 323 $ 265 31 Balance, January 1, 2015 $ — $ 61 $ 10,711 $ 260 $ 128 42 Total gains (losses), realized and unrealized, included in: Earnings (loss) as: Net investment income (loss) — — — — — 1 Investment gains (losses), net — (5 ) — 8 — — Increase (decrease) in the fair value of the reinsurance contract asset — — 645 — — — Policyholders’ benefits — — — — (2 ) — Subtotal — (5 ) 645 8 (2 ) 1 Other comprehensive income (loss) — 3 — — — — Purchases (3) — — 56 3 41 — Issues — — — — — — Sales (4) — — (11 ) (1 ) — — Settlements (5) — — — (1 ) — (1 ) Transfers into Level 3 (1) — — — — — — Transfers out of Level 3 (1) — — — (2 ) — — Balance, March 31, 2015 $ — $ 59 $ 11,401 $ 267 $ 167 42 (1) Transfers into/out of Level 3 classification are reflected at beginning-of-period fair values. (2) Includes Level 3 amounts for Trading securities and consolidated VIE investments. (3) For the GMIB reinsurance contract asset and GWBL and other features reserves, represents premiums. (4) For the GMIB reinsurance contract asset, represents recoveries from reinsurers and for GWBL and other features reserves represents benefits paid. (5) For contingent payment arrangements, it represents payments under the arrangement.
Fair Value Assets Unrealized Gains Losses By Category For Level 3 Assets And Liabilities Still Held	The table below details changes in unrealized gains (losses) for the first quarters of 2016 and 2015 by category for Level 3 assets and liabilities still held at March 31, 2016 and 2015 , respectively: Earnings (Loss) Investment Gains (Losses), Net Increase (Decrease) in the Fair Value of the Reinsurance Contract Asset OCI Policy- holders’ Benefits (In Millions) Level 3 Instruments First Quarter 2016 Held at March 31, 2016: Change in unrealized gains (losses): Fixed maturities, available-for-sale: Corporate $ — $ — $ 11 $ — Commercial mortgage-backed — — (12 ) — Asset-backed — — — — Other fixed maturities, available-for-sale — — — — Subtotal $ — $ — $ (1 ) $ — GMIB reinsurance contracts — 1,637 — — Separate Accounts’ assets 7 — — — GWBL and Other Features’ liability — — — 81 Total $ 7 $ 1,637 $ (1 ) $ 81 Level 3 Instruments First Quarter 2015 Held at March 31, 2015: Change in unrealized gains (losses): Fixed maturities, available-for-sale: Corporate $ — $ — $ 5 $ — State and political subdivisions — — 1 — Commercial mortgage-backed — — 12 — Asset-backed — — (1 ) — Other fixed maturities, available-for-sale — — — — Subtotal $ — $ — $ 17 $ — GMIB reinsurance contracts — 690 — — Separate Accounts’ assets 8 — — — GWBL and Other Features’ liability — — — (39 ) Total $ 8 $ 690 $ 17 $ (39 )
Fair Value Inputs Quantitative Information	The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities as of March 31, 2016 and December 31, 2015 , respectively. Quantitative Information about Level 3 Fair Value Measurements March 31, 2016 Fair Value Valuation Technique Significant Unobservable Input Range (In Millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ 70 Matrix pricing model Spread over the industry-specific benchmark yield curve 25 bps - 565 bps 182 Market comparable companies EBITDA multiples 5.9x- 18.3x Asset-backed 3 Matrix pricing model Spread over U.S. Treasury curve 30 bps - 687 bps Other equity investments 10 Market comparable companies Revenue multiple 2.7x - 4.4x Separate Accounts’ assets 280 Third party appraisal Capitalization rate 4.8% Exit capitalization rate 5.8% Discount rate 6.7% 6 Discounted cash flow Spread over U.S. Treasury curve 287 bps - 424 bps Gross domestic product rate 0%- 0% Discount factor 2.12%- 5.50% GMIB reinsurance contract asset 12,207 Discounted cash flow Lapse Rates 1.5%- 5.7% Withdrawal Rates 0.0% - 8.0% GMIB Utilization Rates 0.0% - 8.0% Non-performance risk 4 bps - 16 bps Volatility rates - Equity 8% - 34% Liabilities: GWBL and other features liability $ 265 Discounted Cash flow Lapse Rates 1.0% - 11.0% Withdrawal Rates 0.0% - 8.0% Volatility rates - Equity 8% - 34% Quantitative Information about Level 3 Fair Value Measurements December 31, 2015 Fair Value Valuation Technique Significant Unobservable Input Range (In Millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ 61 Matrix pricing model Spread over the industry-specific benchmark yield curve 50 bps - 565 bps 154 Market comparable companies EBITDA multiples Discount Rate Cash flow Multiples 7.8x-19.1x Asset-backed 3 Matrix pricing model Spread over U.S. Treasury curve 30 bps - 687 bps Other equity investments 10 Market comparable companies Revenue multiple Marketable Discount 2.5x - 4.8x Separate Accounts’ assets 271 Third party appraisal Capitalization rate 4.9% Exit capitalization rate 5.9% Discount rate 6.7% 7 Discounted cash flow Spread over U.S. Treasury curve 280 bps - 411 bps Gross domestic product rate 0.0% - 1.09% Discount factor 2.3% - 5.9% GMIB reinsurance contract asset 10,570 Discounted Cash flow Lapse Rates 0.6% - 5.7% Withdrawal Rates 0.2% - 8.0% GMIB Utilization Rates 0.0% - 15.0% Non-performance risk 5 bps - 18 bps Volatility rates - Equity 9.0%- 35.0% Liabilities: GWBL and other features liability $ 184 Discounted Cash flow Lapse Rates 1.0% - 11.0% Withdrawal Rates 0.0% - 8.0% Volatility rates - Equity 9.0% -35.0%
Fair Value Disclosure Financial Instruments Not Carried At Fair Value	The carrying values and fair values at March 31, 2016 and December 31, 2015 for financial instruments not otherwise disclosed in Note 3 are presented in the table below. Certain financial instruments are exempt from the requirements for fair value disclosure, such as insurance liabilities other than financial guarantees and investment contracts, limited partnerships accounted for under the equity method and pension and other postretirement obligations. Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In Millions) March 31, 2016: Mortgage loans on real estate $ 7,696 $ — $ — $ 7,865 $ 7,865 Policy loans 3,381 — — 4,451 4,451 Loans to affiliates 704 — 795 — 795 Policyholders’ account balances: Investment contracts 2,700 — — 2,868 2,868 Short-term debt 486 — 486 — 486 Separate Account Liabilities 5,310 — — 5,310 5,310 December 31, 2015: Mortgage loans on real estate $ 7,171 $ — $ — $ 7,257 $ 7,257 Policy loans 3,393 — — 4,343 4,343 Loans to affiliates 1,087 — 795 390 1,185 Policyholders’ account balances: Investment contracts 2,701 — — 2,806 2,806 Short-term debt 584 — 584 — 584 Separate Account Liabilities 5,124 — — 5,124 5,124

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Components of Net Periodic Pension Expense	Components of net periodic pension expense for the Company’s qualified plans (First quarter 2016 net periodic pension expense is solely related to the AB Plan) were as follows: Three Months Ended March 31, 2016 2015 (In Millions) Net Periodic Pension Expense: (Qualified Plans) Service cost $ — $ 2 Interest cost 1 23 Expected return on assets (1 ) (39 ) Net amortization — 30 Net Periodic Pension Expense $ — $ 16

SHARE-BASED COMPENSATION PROG28

SHARE-BASED COMPENSATION PROGRAMS (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Costs	Compensation costs for the first quarters of 2016 and 2015 for share-based payment arrangements as further described herein are as follows: Three Months Ended March 31, 2016 2015 (In Thousands) Performance Units/Shares $ 2,218 $ 862 Stock Options 109 130 AB Stock Options — 1,900 AB Restricted Units 1,200 — Other compensation plans (1) (920 ) 80 Total Compensation Expenses $ 2,607 $ 2,972 (1) Other compensation plans include Restricted Stock, Stock Appreciation Rights and AXA Miles.

ACCUMULATED OTHER COMPREHENSI29

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	AOCI represents cumulative gains (losses) on items that are not reflected in earnings (loss). The balances as of March 31, 2016 and 2015 follow: March 31, 2016 2015 (In Millions) Unrealized gains (losses) on investments $ 1,021 $ 1,462 Foreign currency translation adjustments (49 ) (46 ) Defined benefit pension plans (12 ) (761 ) Total accumulated other comprehensive income (loss) 960 655 Less: Accumulated other comprehensive (income) loss attributable to noncontrolling interest 54 51 Accumulated Other Comprehensive Income (Loss) Attributable to AXA Equitable $ 1,014 $ 706
Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes	The components of OCI, net-of-taxes for the first quarters of 2016 and 2015 follow: Three Months Ended March 31, 2016 2015 (In Millions) Foreign currency translation adjustments: Foreign currency translation gains (losses) arising during the period $ 9 $ (12 ) (Gains) losses reclassified into net earnings (loss) during the period — — Foreign currency translation adjustment 9 (12 ) Net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period 814 386 (Gains) losses reclassified into net earnings (loss) during the period (1) 14 (1 ) Net unrealized gains (losses) on investments 828 385 Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other (48 ) (46 ) Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $427 and $181) 780 339 Change in defined benefit plans: Less: reclassification adjustments to net earnings (loss) for (2) : Net gain (loss) arising during the period — 19 Change in defined benefit plans (net of deferred income tax expense (benefit) of $0 and $10) — 19 Total other comprehensive income (loss), net of income taxes 789 346 Less: Other comprehensive (income) loss attributable to noncontrolling interest (3 ) 9 Other Comprehensive Income (Loss) Attributable to AXA Equitable $ 786 $ 355 (1) See “Reclassification adjustments” in Note 3. Reclassification amounts presented net of income tax expense (benefit) of $ (8) million and $1 million , for the first quarters of 2016 and 2015 , respectively. (2) Reclassification amounts presented net of income tax expense (benefit) of $0 million and $10 million for first quarters of 2016 and 2015 , respectively.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following tables reconcile segment revenues and earnings (loss) from continuing operations before income taxes to total revenues and earnings (loss) as reported on the consolidated statements of earnings (loss) and segment assets to total assets on the consolidated balance sheets. Three Months Ended March 31, 2016 2015 (In Millions) Segment revenues: Insurance (1) $ 4,270 $ 2,810 Investment Management (2) 769 763 Consolidation/elimination (5 ) (6 ) Total Revenues $ 5,034 $ 3,567 (1) Includes investment expenses charged by AB of approximately $12 million and $12 million for the first quarters of 2016 and 2015 , respectively, for services provided to the Insurance Segment. (2) Intersegment investment advisory and other fees of approximately $17 million and $18 million , for the first quarters of 2016 and 2015 , respectively, are included in total revenues of the Investment Management segment.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Three Months Ended March 31, 2016 2015 (In Millions) Segment earnings (loss) from continuing operations, before income taxes: Insurance $ 2,284 $ 983 Investment Management 169 147 Consolidation/elimination 1 — Total Earnings (Loss) from Continuing Operations, before income taxes $ 2,454 $ 1,130
Reconciliation of Assets from Segment to Consolidated	March 31, December 31, (In Millions) Segment assets: Insurance $ 187,532 $ 182,738 Investment Management (1) 12,452 11,895 Consolidation/elimination (1 ) (7 ) Total Assets $ 199,983 $ 194,626 (1) In accordance with SEC regulations, the assets of the Investment Management segment include securities with a fair value of $ 635 million and $460 million which have been segregated in a special reserve bank custody account at March 31, 2016 and December 31, 2015 , respectively, for the exclusive benefit of securities broker-dealer or brokerage customers under the Exchange Act. They also include cash held in several special bank accounts for the exclusive benefit of customers. As of March 31, 2016 and December 31, 2015 , $89 million and $55 million , respectively, of cash was segregated in these bank accounts.

ORGANIZATION AND BASIS OF PRE31

ORGANIZATION AND BASIS OF PRESENTATION (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
AXA Equitable
Economic interest in subsidiary (as a percent)	28.80%	28.60%
Parent Company
Economic interest in subsidiary (as a percent)	63.20%	62.80%

SIGNIFICANT ACCOUNTING POLICI32

SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)fund	Dec. 31, 2015USD ($)
Variable Interest Entity [Line Items]
Other equity investments	$ 1,398	$ 1,477
Variable Interest Entity, Not Primary Beneficiary | Investment Management
Variable Interest Entity [Line Items]
Variable Interest Entity, maximum loss exposure	$ 6
Number of Investment Funds | fund	3
Variable Interest Entity, nonconsolidated net assets	$ 36,600
Variable Interest Entity, Not Primary Beneficiary | Adjustments for New Accounting Pronouncement
Variable Interest Entity [Line Items]
Variable Interest Entity, unfunded commitments	585
Variable Interest Entity, Not Primary Beneficiary | Adjustments for New Accounting Pronouncement | Other Equity Investments
Variable Interest Entity [Line Items]
Variable Interest Entity, maximum loss exposure	1,202
Variable Interest Entity, nonconsolidated net assets	136,440
Variable Interest Entity, Not Primary Beneficiary | Adjustments for New Accounting Pronouncement | Insurance
Variable Interest Entity [Line Items]
Other equity investments	$ 1,202
Variable Interest Entity, Primary Beneficiary | Investment Management
Variable Interest Entity [Line Items]
Number of Investment Funds | fund	3

INVESTMENTS (AVAILABLE FOR SALE

INVESTMENTS (AVAILABLE FOR SALE SECURITIES) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 32,571	$ 31,235
Gross Unrealized Gains	2,316	1,432
Gross Unrealized Losses	332	742
Fair Value	34,555	31,925
OTTI in AOCI	12	12
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Due in one year or less, Amortized Cost	1,248
Due in years two through five, Amortized Cost	7,527
Due in years six through ten, Amortized Cost	10,223
Due after ten years, Amortized Cost	11,786
Available for sale securities debt maturities single maturity date, Amortized Cost, Subtotal	30,784
Fixed maturities available for sale, amortized cost	32,536
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less, Fair Value	1,259
Due in years two through five, Fair Value	8,009
Due in years six through ten, Fair Value	10,562
Due after ten years, Fair Value	12,905
Available for sale securities debt maturities single maturity date, Fair Value, Subtotal	32,735
Available-for-sale securities, debt maturities, Fair Value, Total	34,520
Public corporate
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	13,064	12,890
Gross Unrealized Gains	883	688
Gross Unrealized Losses	92	202
Fair Value	13,855	13,376
OTTI in AOCI	0	0
Private corporate
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,714	6,818
Gross Unrealized Gains	325	232
Gross Unrealized Losses	54	124
Fair Value	6,985	6,926
OTTI in AOCI	0	0
U.S. Treasury, government and agency
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	10,226	8,800
Gross Unrealized Gains	856	280
Gross Unrealized Losses	76	305
Fair Value	11,006	8,775
OTTI in AOCI	0	0
State and Political Sub- divisions
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	437	437
Gross Unrealized Gains	81	68
Gross Unrealized Losses	1	1
Fair Value	517	504
OTTI in AOCI	0	0
Foreign Govts
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	343	397
Gross Unrealized Gains	40	36
Gross Unrealized Losses	11	18
Fair Value	372	415
OTTI in AOCI	0	0
Commercial Mortgage- backed
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	541	591
Gross Unrealized Gains	26	29
Gross Unrealized Losses	96	87
Fair Value	471	533
OTTI in AOCI	9	9
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Available-for-sale securities, debt maturities, without single maturity date, Amortized Cost	541
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Available-for-sale securities, debt maturities, without single maturity date, Fair Value	471
Residential Mortgage- backed
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	582	608
Gross Unrealized Gains	35	32
Gross Unrealized Losses	0	0
Fair Value	617	640
OTTI in AOCI	0	0
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Available-for-sale securities, debt maturities, without single maturity date, Amortized Cost	582
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Available-for-sale securities, debt maturities, without single maturity date, Fair Value	617
Asset- backed
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	60	68
Gross Unrealized Gains	9	10
Gross Unrealized Losses	1	1
Fair Value	68	77
OTTI in AOCI	3	3
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Available-for-sale securities, debt maturities, without single maturity date, Amortized Cost	60
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Available-for-sale securities, debt maturities, without single maturity date, Fair Value	68
Redeemable Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	569	592
Gross Unrealized Gains	61	57
Gross Unrealized Losses	1	2
Fair Value	629	647
OTTI in AOCI	0	0
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Available-for-sale securities, debt maturities, without single maturity date, Amortized Cost	569
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Available-for-sale securities, debt maturities, without single maturity date, Fair Value	629
Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	32,536	31,201
Gross Unrealized Gains	2,316	1,432
Gross Unrealized Losses	332	740
Fair Value	34,520	31,893
OTTI in AOCI	12	12
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Fixed maturities available for sale, amortized cost	32,536	31,201
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	35	34
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	2
Fair Value	35	32
OTTI in AOCI	$ 0	$ 0

INVESTMENTS (CREDIT LOSS IMPAIR

INVESTMENTS (CREDIT LOSS IMPAIRMENTS) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Proceeds from sales, gross gains (losses) from sales and OTTI for AFS fixed maturities
Fixed maturities, available for sale	$ 389	$ 360
Gross gains on sales	19	5
Gross losses on sales	(21)	(4)
Total other-than-temporary impairment losses	(17)	(2)
Portion of loss recognized in other comprehensive income (loss)	0	0
Net impairment losses recognized	(17)	(2)
Fixed Maturities - Credit Loss Impairments
Balances at beginning of period	(198)	(254)
Previously recognized impairments on securities that matured, paid, prepaid or sold	34	18
Recognized impairments on securities impaired to fair value this period	17	0
Impairments recognized this period on securities not previously impaired	0	2
Additional impairments this period on securities previously impaired	0	0
Increases due to passage of time on previously recorded credit losses	0	0
Accretion of previously recognized impairments due to increases in expected cash flows	0	0
Balances at end of period	$ (181)	$ (238)

INVESTMENTS (GROSS UNREALIZED L

INVESTMENTS (GROSS UNREALIZED LOSSES) (Details) $ in Millions	Mar. 31, 2016USD ($)securities	Dec. 31, 2015USD ($)securities
Investments, Debt and Equity Securities [Abstract]
Number of fixed maturities in an unrealized loss position greater than 12 months | securities	522	810
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	$ 2,616	$ 8,779
Less Than 12 Months, Gross Unrealized Losses	(83)	(546)
Greater than 12 Months, Fair Value	2,763	929
Greater Than 12 Months, Gross Unrealized Losses	(249)	(194)
Total, Fair Value	5,379	9,708
Total, Gross Unrealized Losses	(332)	(740)
Public corporate
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	1,001	3,091
Less Than 12 Months, Gross Unrealized Losses	(45)	(129)
Greater than 12 Months, Fair Value	568	359
Greater Than 12 Months, Gross Unrealized Losses	(47)	(73)
Total, Fair Value	1,569	3,450
Total, Gross Unrealized Losses	(92)	(202)
Private corporate
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	617	1,926
Less Than 12 Months, Gross Unrealized Losses	(23)	(102)
Greater than 12 Months, Fair Value	450	184
Greater Than 12 Months, Gross Unrealized Losses	(31)	(22)
Total, Fair Value	1,067	2,110
Total, Gross Unrealized Losses	(54)	(124)
U.S. Treasury, government and agency
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	808	3,538
Less Than 12 Months, Gross Unrealized Losses	(8)	(305)
Greater than 12 Months, Fair Value	1,380	0
Greater Than 12 Months, Gross Unrealized Losses	(68)	0
Total, Fair Value	2,188	3,538
Total, Gross Unrealized Losses	(76)	(305)
State and Political Sub- divisions
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	0	19
Less Than 12 Months, Gross Unrealized Losses	0	(1)
Greater than 12 Months, Fair Value	19	0
Greater Than 12 Months, Gross Unrealized Losses	(1)	0
Total, Fair Value	19	19
Total, Gross Unrealized Losses	(1)	(1)
Foreign Govts
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	45	73
Less Than 12 Months, Gross Unrealized Losses	(2)	(7)
Greater than 12 Months, Fair Value	47	39
Greater Than 12 Months, Gross Unrealized Losses	(9)	(11)
Total, Fair Value	92	112
Total, Gross Unrealized Losses	(11)	(18)
Commercial Mortgage- backed
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	50	67
Less Than 12 Months, Gross Unrealized Losses	(5)	(2)
Greater than 12 Months, Fair Value	245	261
Greater Than 12 Months, Gross Unrealized Losses	(91)	(85)
Total, Fair Value	295	328
Total, Gross Unrealized Losses	(96)	(87)
Residential Mortgage- backed
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	40	11
Less Than 12 Months, Gross Unrealized Losses	0	0
Greater than 12 Months, Fair Value	28	29
Greater Than 12 Months, Gross Unrealized Losses	0	0
Total, Fair Value	68	40
Total, Gross Unrealized Losses	0	0
Asset- backed
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	1	11
Less Than 12 Months, Gross Unrealized Losses	0	0
Greater than 12 Months, Fair Value	14	17
Greater Than 12 Months, Gross Unrealized Losses	(1)	(1)
Total, Fair Value	15	28
Total, Gross Unrealized Losses	(1)	(1)
Redeemable Preferred Stock
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	54	43
Less Than 12 Months, Gross Unrealized Losses	0	0
Greater than 12 Months, Fair Value	12	40
Greater Than 12 Months, Gross Unrealized Losses	(1)	(2)
Total, Fair Value	66	83
Total, Gross Unrealized Losses	$ (1)	$ (2)

INVESTMENTS (TEXTUAL) (Details)

INVESTMENTS (TEXTUAL) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities exposure in single issuer greater than stated percentage of total investments	0.30%
Available-for-sale securities, amortized cost basis	$ 32,571		$ 31,235
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	249		194
Carrying value of fixed maturities non-income producing	5
Investment expenses	16	$ 11
Trading securities, Cost	7,086		6,866
Trading securities, at fair value	7,124		6,805
Separate account equity investment carrying value	82		82
Separate account equity investment cost	72		72
Equity Securities, Carrying Value	35		32
Equity Securities, Amortized Cost	35		34
Other Than Investment Grade
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale securities, amortized cost	$ 1,633		$ 1,310
Percentage of available for sale securities	5.00%		4.20%
Subprime residential mortgage loans
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Other investments and securities, at cost	$ 7		$ 7
Alt residential mortgage loans
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Other investments and securities, at cost	6		6
Public corporate
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities exposure in single issuer of total investments	160		157
Available-for-sale securities, amortized cost basis	13,064		12,890
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	47		73
Fixed Maturities
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Available-for-sale securities, amortized cost basis	32,536		31,201
Fixed Maturities | Other Than Investment Grade
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Gross Unrealized Losses	$ 109		$ 97

INVESTMENTS (TRADING SECURITIES

INVESTMENTS (TRADING SECURITIES) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Realized and Unrealized Gain (Loss) on Trading Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ 64	$ 33
Net investment gains (losses) recognized on securities sold during the period	66	39
Net investment gains (losses) recognized on securities sold during the period	(6)	0
Unrealized and realized gains (losses) on trading securities arising during the period	58	33
Interest and dividend income from trading securities	19	2
Net investment income (loss) from trading securities	$ 77	$ 35

INVESTMENTS (TROUBLED DEBT REST

INVESTMENTS (TROUBLED DEBT RESTRUCTURING) (Details) - Commercial Mortgage Loans $ in Millions	1 Months Ended	3 Months Ended
	Nov. 30, 2015USD ($)	Mar. 31, 2016USD ($)loan	Dec. 31, 2015USD ($)
Financing Receivable, Modifications [Line Items]
Mortgage loans classified as nonaccrual		$ 39	$ 72
Reduced investments recorded in financing receivables	$ 32
Troubled debt restructuring, number of loans | loan		1
Pre-modification, recorded investment		$ 16
Post-modification, recorded investment		$ 16
Sale of Underlying Collateral
Financing Receivable, Modifications [Line Items]
Reduced investments recorded in financing receivables	$ 45

INVESTMENTS (VALUATION ALLOWANC

INVESTMENTS (VALUATION ALLOWANCE FOR MORTGAGE LOANS) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Mortgage loans on real estate, valuation allowances	$ 7,000,000		$ 6,000,000
Commercial Mortgage Loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance, January 1	6,000,000	$ 37,000,000
Charge-offs	0	0
Recoveries	0	0
Provision	1,000,000	0
Ending balance, March 31	7,000,000	37,000,000
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Mortgage loans on real estate, valuation allowances	7,000,000	$ 37,000,000
Agricultural Mortgage Loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance, January 1	0
Ending balance, March 31	$ 0

INVESTMENTS (MORTGAGE LOANS) (D

INVESTMENTS (MORTGAGE LOANS) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Commercial Mortgage Loans
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	$ 5,375	$ 4,847
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	0	30
Financing receivables, recorded investment, current	5,375	4,817
Total financing receivables	5,375	4,847
Financing receivable, recorded investment, 90 days or more past due and accruing	0	0
Commercial Mortgage Loans | With No Related Allowance Recorded
Impaired Mortgage Loans [Abstract]
Impaired financing receivable, recorded investment	16	46
Impaired financing receivable, unpaid principal balance	16	46
Related allowance	0	0
Impaired financing receivable, average recorded investment	31	15
Impaired financing receivable, interest income recognized	0	0
Commercial Mortgage Loans | With Related Allowance Recorded
Impaired Mortgage Loans [Abstract]
Impaired financing receivable, recorded investment	61	63
Impaired financing receivable, unpaid principal balance	61	63
Related allowance	(7)	(6)
Impaired financing receivable, average recorded investment	62	137
Impaired financing receivable, interest income recognized	1	4
Commercial Mortgage Loans | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	2,608	2,129
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	2,608	2,129
Commercial Mortgage Loans | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	487	353
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	487	353
Commercial Mortgage Loans | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	1,002	1,049
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	1,002	1,049
Commercial Mortgage Loans | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	1,043	1,045
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	1,043	1,045
Commercial Mortgage Loans | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	189	225
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	189	225
Commercial Mortgage Loans | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	46	46
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	46	46
Commercial Mortgage Loans | 0% - 50%
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	853	671
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	853	671
Commercial Mortgage Loans | 0% - 50% | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	715	533
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	715	533
Commercial Mortgage Loans | 0% - 50% | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	45	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	45	0
Commercial Mortgage Loans | 0% - 50% | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	57	102
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	57	102
Commercial Mortgage Loans | 0% - 50% | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	12	12
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	12	12
Commercial Mortgage Loans | 0% - 50% | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	24	24
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	24	24
Commercial Mortgage Loans | 0% - 50% | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Commercial Mortgage Loans | 50% - 70%
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	3,746	3,416
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	3,746	3,416
Commercial Mortgage Loans | 50% - 70% | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	1,713	1,392
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	1,713	1,392
Commercial Mortgage Loans | 50% - 70% | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	396	353
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	396	353
Commercial Mortgage Loans | 50% - 70% | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	739	741
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	739	741
Commercial Mortgage Loans | 50% - 70% | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	821	853
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	821	853
Commercial Mortgage Loans | 50% - 70% | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	77	77
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	77	77
Commercial Mortgage Loans | 50% - 70% | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Commercial Mortgage Loans | 70% - 90%
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	698	651
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	698	651
Commercial Mortgage Loans | 70% - 90% | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	118	141
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	118	141
Commercial Mortgage Loans | 70% - 90% | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	46	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	46	0
Commercial Mortgage Loans | 70% - 90% | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	206	206
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	206	206
Commercial Mortgage Loans | 70% - 90% | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	194	134
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	194	134
Commercial Mortgage Loans | 70% - 90% | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	88	124
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	88	124
Commercial Mortgage Loans | 70% - 90% | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	46	46
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	46	46
Commercial Mortgage Loans | 90% plus
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	78	109
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	78	109
Commercial Mortgage Loans | 90% plus | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	62	63
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	62	63
Commercial Mortgage Loans | 90% plus | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Commercial Mortgage Loans | 90% plus | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Commercial Mortgage Loans | 90% plus | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	16	46
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	16	46
Commercial Mortgage Loans | 90% plus | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Commercial Mortgage Loans | 90% plus | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Commercial Mortgage Loans | 30 to 59 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	0	0
Commercial Mortgage Loans | 60 to 89 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	0	0
Commercial Mortgage Loans | 90 Days or More
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	0	30
Agricultural Mortgage Loans
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	2,328	2,330
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	48	23
Financing receivables, recorded investment, current	2,280	2,307
Total financing receivables	2,328	2,330
Financing receivable, recorded investment, 90 days or more past due and accruing	2	4
Agricultural Mortgage Loans | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	360	350
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	360	350
Agricultural Mortgage Loans | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	200	196
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	200	196
Agricultural Mortgage Loans | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	458	471
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	458	471
Agricultural Mortgage Loans | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	752	734
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	752	734
Agricultural Mortgage Loans | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	472	481
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	472	481
Agricultural Mortgage Loans | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	86	98
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	86	98
Agricultural Mortgage Loans | 0% - 50%
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	1,340	1,336
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	1,340	1,336
Agricultural Mortgage Loans | 0% - 50% | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	218	204
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	218	204
Agricultural Mortgage Loans | 0% - 50% | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	130	116
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	130	116
Agricultural Mortgage Loans | 0% - 50% | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	269	277
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	269	277
Agricultural Mortgage Loans | 0% - 50% | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	430	432
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	430	432
Agricultural Mortgage Loans | 0% - 50% | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	248	256
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	248	256
Agricultural Mortgage Loans | 0% - 50% | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	45	51
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	45	51
Agricultural Mortgage Loans | 50% - 70%
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	982	988
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	982	988
Agricultural Mortgage Loans | 50% - 70% | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	142	146
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	142	146
Agricultural Mortgage Loans | 50% - 70% | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	70	80
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	70	80
Agricultural Mortgage Loans | 50% - 70% | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	187	192
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	187	192
Agricultural Mortgage Loans | 50% - 70% | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	318	298
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	318	298
Agricultural Mortgage Loans | 50% - 70% | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	224	225
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	224	225
Agricultural Mortgage Loans | 50% - 70% | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	41	47
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	41	47
Agricultural Mortgage Loans | 70% - 90%
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	6	6
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	6	6
Agricultural Mortgage Loans | 70% - 90% | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 70% - 90% | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 70% - 90% | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	2	2
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	2	2
Agricultural Mortgage Loans | 70% - 90% | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	4	4
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	4	4
Agricultural Mortgage Loans | 70% - 90% | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 70% - 90% | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 90% plus
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 90% plus | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 90% plus | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 90% plus | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 90% plus | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 90% plus | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 90% plus | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Agricultural Mortgage Loans | 30 to 59 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	2	12
Agricultural Mortgage Loans | 60 to 89 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	44	7
Agricultural Mortgage Loans | 90 Days or More
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	2	4
Total Mortgages Loan
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	7,703	7,177
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	48	53
Financing receivables, recorded investment, current	7,655	7,124
Total financing receivables	7,703	7,177
Financing receivable, recorded investment, 90 days or more past due and accruing	2	4
Total Mortgages Loan | With No Related Allowance Recorded
Impaired Mortgage Loans [Abstract]
Impaired financing receivable, recorded investment	16	46
Impaired financing receivable, unpaid principal balance	16	46
Related allowance	0	0
Impaired financing receivable, average recorded investment	31	15
Impaired financing receivable, interest income recognized	0	0
Total Mortgages Loan | With Related Allowance Recorded
Impaired Mortgage Loans [Abstract]
Impaired financing receivable, recorded investment	61	63
Impaired financing receivable, unpaid principal balance	61	63
Related allowance	(7)	(6)
Impaired financing receivable, average recorded investment	62	137
Impaired financing receivable, interest income recognized	1	4
Total Mortgages Loan | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	2,968	2,479
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	2,968	2,479
Total Mortgages Loan | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	687	549
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	687	549
Total Mortgages Loan | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	1,460	1,520
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	1,460	1,520
Total Mortgages Loan | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	1,795	1,779
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	1,795	1,779
Total Mortgages Loan | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	661	706
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	661	706
Total Mortgages Loan | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	132	144
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	132	144
Total Mortgages Loan | 0% - 50%
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	2,193	2,007
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	2,193	2,007
Total Mortgages Loan | 0% - 50% | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	933	737
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	933	737
Total Mortgages Loan | 0% - 50% | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	175	116
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	175	116
Total Mortgages Loan | 0% - 50% | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	326	379
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	326	379
Total Mortgages Loan | 0% - 50% | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	442	444
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	442	444
Total Mortgages Loan | 0% - 50% | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	272	280
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	272	280
Total Mortgages Loan | 0% - 50% | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	45	51
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	45	51
Total Mortgages Loan | 50% - 70%
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	4,728	4,404
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	4,728	4,404
Total Mortgages Loan | 50% - 70% | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	1,855	1,538
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	1,855	1,538
Total Mortgages Loan | 50% - 70% | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	466	433
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	466	433
Total Mortgages Loan | 50% - 70% | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	926	933
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	926	933
Total Mortgages Loan | 50% - 70% | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	1,139	1,151
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	1,139	1,151
Total Mortgages Loan | 50% - 70% | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	301	302
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	301	302
Total Mortgages Loan | 50% - 70% | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	41	47
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	41	47
Total Mortgages Loan | 70% - 90%
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	704	657
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	704	657
Total Mortgages Loan | 70% - 90% | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	118	141
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	118	141
Total Mortgages Loan | 70% - 90% | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	46	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	46	0
Total Mortgages Loan | 70% - 90% | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	208	208
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	208	208
Total Mortgages Loan | 70% - 90% | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	198	138
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	198	138
Total Mortgages Loan | 70% - 90% | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	88	124
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	88	124
Total Mortgages Loan | 70% - 90% | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	46	46
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	46	46
Total Mortgages Loan | 90% plus
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	78	109
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	78	109
Total Mortgages Loan | 90% plus | Greater than 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	62	63
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	62	63
Total Mortgages Loan | 90% plus | 1.8x to 2.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Total Mortgages Loan | 90% plus | 1.5x to 1.8x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Total Mortgages Loan | 90% plus | 1.2x to 1.5x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	16	46
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	16	46
Total Mortgages Loan | 90% plus | 1.0x to 1.2x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Total Mortgages Loan | 90% plus | Less than 1.0x
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total financing receivables	0	0
Total Mortgages Loan | 30 to 59 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	2	12
Total Mortgages Loan | 60 to 89 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	44	7
Total Mortgages Loan | 90 Days or More
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables, recorded investment, past due	$ 2	$ 34

INVESTMENTS (DERIVATIVES BY CAT

INVESTMENTS (DERIVATIVES BY CATEGORY) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 45,177		$ 42,714
Fair Value Assets Derivatives	13,988		12,055
Fair Value Liabilities Derivatives	1,460		1,320
Gains (losses) included in net earnings (loss)	2,271	$ 906
Equity Futures
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	7,530		7,089
Fair Value Assets Derivatives	0		2
Fair Value Liabilities Derivatives	3		3
Gains (losses) included in net earnings (loss)	(86)	(185)
Equity Swaps
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	1,577		1,359
Fair Value Assets Derivatives	1		8
Fair Value Liabilities Derivatives	84		21
Gains (losses) included in net earnings (loss)	(9)	(57)
Equity Option
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	7,992		7,358
Fair Value Assets Derivatives	1,102		1,042
Fair Value Liabilities Derivatives	683		652
Gains (losses) included in net earnings (loss)	34	81
Floors
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	1,500		1,800
Fair Value Assets Derivatives	50		61
Fair Value Liabilities Derivatives	0		0
Gains (losses) included in net earnings (loss)	4	8
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	15,284		13,718
Fair Value Assets Derivatives	608		351
Fair Value Liabilities Derivatives	57		108
Gains (losses) included in net earnings (loss)	851	369
Interest rate contracts Futures
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	8,626		8,685
Fair Value Assets Derivatives	0		0
Fair Value Liabilities Derivatives	0		0
Gains (losses) included in net earnings (loss)	(46)	(2)
Interest Rate Swaption
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount			0
Fair Value Assets Derivatives			0
Fair Value Liabilities Derivatives			0
Gains (losses) included in net earnings (loss)		118
Credit Default Swaps
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	2,470		2,442
Fair Value Assets Derivatives	15		16
Fair Value Liabilities Derivatives	26		38
Gains (losses) included in net earnings (loss)	1	2
Currency Contracts
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	198		263
Fair Value Assets Derivatives	5		5
Fair Value Liabilities Derivatives	6		4
Gains (losses) included in net earnings (loss)	(1)	3
Investment Income
Derivatives, Fair Value [Line Items]
Gains (losses) included in net earnings (loss)	748	337
Gmib Reinsurance
Derivatives, Fair Value [Line Items]
Fair Value Assets Derivatives	12,207		10,570
Gains (losses) included in net earnings (loss)	1,637	690
GWBL and Other Features’ liability
Derivatives, Fair Value [Line Items]
Fair Value Liabilities Derivatives	265		184
Gains (losses) included in net earnings (loss)	(81)	(39)
SCS, SIO, MSO and IUL indexed features’ liability
Derivatives, Fair Value [Line Items]
Fair Value Liabilities Derivatives	336		$ 310
Gains (losses) included in net earnings (loss)	$ (33)	$ (82)

INVESTMENTS (EQUITY-BASED AND T

INVESTMENTS (EQUITY-BASED AND TREASURY FUTURE CONTRACTS) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Cash and securities collateral for derivative contract	$ 896	$ 655
Collateralized derivative transactions	1	5
Cash and securities collateral	1	5
Exchange Traded Future Contract [Line Items]
Securities purchased under agreements to resell	205	79
Securities sold under agreement to repurchase
Exchange Traded Future Contract [Line Items]
Securities Sold under Agreements to Repurchase, Gross	2,038	$ 1,890
S&P 500, Russell 1000, NASDAQ 100 and Emerging Market Indices
Exchange Traded Future Contract [Line Items]
Exchange-Traded Future Contract, Initial Margin Requirement	300
Us Treasury Notes And Euro Dollar
Exchange Traded Future Contract [Line Items]
Exchange-Traded Future Contract, Initial Margin Requirement	36
Euro Stoxx, FTSE100, EAFE And Topix Indices
Exchange Traded Future Contract [Line Items]
Exchange-Traded Future Contract, Initial Margin Requirement	$ 56

INVESTMENTS INVESTMENTS (DERIVA

INVESTMENTS INVESTMENTS (DERIVATIVES OFFSETING FINANCIAL ASSETS) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Offsetting Assets [Line Items]
Securities purchased under agreements to resell, net amount presented in the Balance Sheet,	$ 205	$ 79
Reverse Repurchase agreements [Abstract]
Securities sold under agreements to repurchase	2,038	1,890
Fair Value Assets Derivatives	13,988	12,055
Accrued interest derivatives	101	141
Investment Management
Reverse Repurchase agreements [Abstract]
Fair Value Assets Derivatives	76	13
Equity Contract
Offsetting Assets [Line Items]
Gross amounts recognized	1,103	1,049
Gross amounts offset in the balance sheets	764	673
Net amounts presented in the balance sheets	339	376
Interest Rate Contract
Offsetting Assets [Line Items]
Gross amounts recognized	639	389
Gross amounts offset in the balance sheets	54	104
Net amounts presented in the balance sheets	585	285
Credit Default Swaps
Offsetting Assets [Line Items]
Gross amounts recognized	13	14
Gross amounts offset in the balance sheets	26	37
Net amounts presented in the balance sheets	(13)	(23)
Reverse Repurchase agreements [Abstract]
Fair Value Assets Derivatives	15	16
Derivatives Subject to an ISDA Master Agreements
Offsetting Assets [Line Items]
Gross amounts recognized	1,755	1,452
Gross amounts offset in the balance sheets	844	814
Net amounts presented in the balance sheets	911	638
Derivatives not subject to an ISDA Master Agreements
Offsetting Assets [Line Items]
Gross amounts recognized	16	20
Gross amounts offset in the balance sheets	0	0
Net amounts presented in the balance sheets	16	20
Total Derivatives
Offsetting Assets [Line Items]
Gross amounts recognized	1,771	1,472
Gross amounts offset in the balance sheets	844	814
Net amounts presented in the balance sheets	927	658
Other Financial Instruments
Offsetting Assets [Line Items]
Gross amounts recognized	1,317	1,271
Gross amounts offset in the balance sheets	0	0
Net amounts presented in the balance sheets	1,317	1,271
Other Invested Assets
Offsetting Assets [Line Items]
Gross amounts recognized	3,088	2,743
Gross amounts offset in the balance sheets	844	814
Net amounts presented in the balance sheets	2,244	1,929
Securities purchased under agreement to resell
Offsetting Assets [Line Items]
Securities purchased under agreement to resell, gross amount recognized	205	79
Securities purchased under agreement to resell, gross amount offset in the Balance Sheets	0	0
Securities purchased under agreements to resell, net amount presented in the Balance Sheet,	205	79
Securities sold under agreement to repurchase
Reverse Repurchase agreements [Abstract]
Securities sold under agreements to repurchase, gross amount recognized	2,038	1,890
Securities sold under agreement to repurchase, gross amount offset in the Balance Sheets	0	0
Securities sold under agreements to repurchase	2,038	1,890
Exchange Traded Options | Investment Management | Long
Reverse Repurchase agreements [Abstract]
Fair Value Assets Derivatives	5	6
Securities Borrowed | Investment Management
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	26	75
Initial Margin
Reverse Repurchase agreements [Abstract]
Fair Value Assets Derivatives	$ (5)	$ (2)

INVESTMENTS (DERIVATIVES OFFSET

INVESTMENTS (DERIVATIVES OFFSETING FINANCIAL LIABILITES ) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Repurchase agreements [Abstract]
Repurchase agreements, net amount presented on the Balance Sheet	$ 2,038	$ 1,890
Fair Value Liabilities Derivatives	1,460	1,320
Investment Management
Offsetting Liabilities [Line Items]
Derivative, Collateral, Obligation to Return Cash		(2)
Repurchase agreements [Abstract]
Fair Value Liabilities Derivatives	81	12
Equity Contract
Offsetting Liabilities [Line Items]
Gross amount recognized	764	673
Gross amounts offset in the balance sheets	764	673
Net amounts presented in the balance sheets	0	0
Interest Rate Contract
Offsetting Liabilities [Line Items]
Gross amount recognized	54	104
Gross amounts offset in the balance sheets	54	104
Net amounts presented in the balance sheets	0	0
Credit Default Swaps
Offsetting Liabilities [Line Items]
Gross amount recognized	26	37
Gross amounts offset in the balance sheets	26	37
Net amounts presented in the balance sheets	0	0
Repurchase agreements [Abstract]
Fair Value Liabilities Derivatives	26	38
Derivatives Subject to an ISDA Master Agreements
Offsetting Liabilities [Line Items]
Gross amount recognized	844	814
Gross amounts offset in the balance sheets	844	814
Net amounts presented in the balance sheets	0	0
Derivatives not subject to an ISDA Master Agreements
Offsetting Liabilities [Line Items]
Gross amount recognized	0	0
Gross amounts offset in the balance sheets	0	0
Net amounts presented in the balance sheets	0	0
Total Derivatives
Offsetting Liabilities [Line Items]
Gross amount recognized	844	814
Gross amounts offset in the balance sheets	844	814
Net amounts presented in the balance sheets	0	0
Other Financial Liabilities
Offsetting Liabilities [Line Items]
Gross amount recognized	2,841	2,586
Gross amounts offset in the balance sheets	0	0
Net amounts presented in the balance sheets	2,841	2,586
Other Liabilities
Offsetting Liabilities [Line Items]
Gross amount recognized	3,685	3,400
Gross amounts offset in the balance sheets	844	814
Net amounts presented in the balance sheets	2,841	2,586
Securities sold under agreement to repurchase
Repurchase agreements [Abstract]
Securities sold under agreements to repurchase, gross amount recognized	2,038	1,890
Securities sold under agreement to repurchase, gross amount offset in the Balance Sheets	0	0
Repurchase agreements, net amount presented on the Balance Sheet	2,038	1,890
Exchange Traded Options | Investment Management | Short
Repurchase agreements [Abstract]
Fair Value Liabilities Derivatives	3	1
Securities Loaned | Investment Management
Offsetting Liabilities [Line Items]
Net amounts presented in the balance sheets	17	10
Counterparty G
Offsetting Liabilities [Line Items]
Derivative, Collateral, Obligation to Return Cash	$ (134)	$ (129)

INVESTMENTS (DERIVATIVES GROSS

INVESTMENTS (DERIVATIVES GROSS COLLATERAL AMOUNTS ASSETS) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Reverse repurchase agreements [Abstract]
Securities purchased under agreements to resell, net amount presented in the Balance Sheet,	$ 205	$ 79
Securities sold under agreements to repurchase	2,038	1,890
Accrued interest derivatives	101	141
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	13,988	12,055
Investment Management
Offsetting Assets [Line Items]
Callateral Cash (Received)		(2)
Reverse repurchase agreements [Abstract]
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash		(12)
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	76	13
Counterparty A
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	55	52
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(50)	(52)
Derivative Asset, Fair Value, Amount Offset Against Collateral	5	0
Counterparty B
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	18	9
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(18)	(7)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	2
Counterparty C
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	105	61
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(105)	(58)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	3
Reverse repurchase agreements [Abstract]
Securities sold under agreements to repurchase		1,033
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities		(1,016)
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash		(17)
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral		0
Counterparty D
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	246	222
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(241)	(218)
Derivative Asset, Fair Value, Amount Offset Against Collateral	5	4
Reverse repurchase agreements [Abstract]
Securities sold under agreements to repurchase	675	234
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	(675)	(234)
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash	0	0
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral	0	0
Counterparty E
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	67	53
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(64)	(53)
Derivative Asset, Fair Value, Amount Offset Against Collateral	3	0
Counterparty F
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	12	(2)
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(12)	2
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty G
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	136	129
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(134)	(129)
Derivative Asset, Fair Value, Amount Offset Against Collateral	2	0
Counterparty H
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	11	16
Calleteral Securities (Received)	(11)	(11)
Callateral Cash (Received)	0	(5)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Reverse repurchase agreements [Abstract]
Securities sold under agreements to repurchase	965
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	(965)
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash	0
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral	0
Counterparty I
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	108	44
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(108)	(39)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	5
Counterparty J
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	40	19
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(28)	(13)
Derivative Asset, Fair Value, Amount Offset Against Collateral	12	6
Counterparty K
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	25	17
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(18)	(17)
Derivative Asset, Fair Value, Amount Offset Against Collateral	7	0
Counterparty L
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	5	7
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(5)	(7)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty M
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	60	11
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(60)	(10)
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	1
Reverse repurchase agreements [Abstract]
Securities purchased under agreements to resell, net amount presented in the Balance Sheet,	205	28
Reverse repurchase agreements, collateral securities received	(205)	(28)
Reverse repurchase agreements, collateral cash received	0	0
Reverse repurchase agreements, net amounts	0	0
Securities sold under agreements to repurchase	398	623
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	(398)	(611)
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash	0	(12)
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral	0	0
Counterparty N
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	16	20
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	0	0
Derivative Asset, Fair Value, Amount Offset Against Collateral	16	20
Counterparty Q
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	0	0
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	1	0
Derivative Asset, Fair Value, Amount Offset Against Collateral	1	0
Counterparty T
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	10	(3)
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(10)	3
Derivative Asset, Fair Value, Amount Offset Against Collateral	0	0
Counterparty U
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	5	0
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(4)	1
Derivative Asset, Fair Value, Amount Offset Against Collateral	1	1
Counterparty V
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	8	3
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	(7)	(3)
Derivative Asset, Fair Value, Amount Offset Against Collateral	1	0
Reverse repurchase agreements [Abstract]
Securities purchased under agreements to resell, net amount presented in the Balance Sheet,		51
Reverse repurchase agreements, collateral securities received		(51)
Reverse repurchase agreements, collateral cash received		0
Reverse repurchase agreements, net amounts		0
Derivative
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	927	658
Calleteral Securities (Received)	(11)	(11)
Callateral Cash (Received)	(863)	(605)
Derivative Asset, Fair Value, Amount Offset Against Collateral	53	42
Other Financial Instruments
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	1,317	1,271
Calleteral Securities (Received)	0	0
Callateral Cash (Received)	0	0
Derivative Asset, Fair Value, Amount Offset Against Collateral	1,317	1,271
Other
Offsetting Assets [Line Items]
Net amounts presented in the balance sheets	2,244	1,929
Calleteral Securities (Received)	(11)	(11)
Callateral Cash (Received)	(863)	(605)
Derivative Asset, Fair Value, Amount Offset Against Collateral	1,370	1,313
Securities purchased under agreement to resell
Reverse repurchase agreements [Abstract]
Securities purchased under agreements to resell, net amount presented in the Balance Sheet,	205
Reverse repurchase agreements, collateral securities received	(205)
Reverse repurchase agreements, collateral cash received	0
Reverse repurchase agreements, net amounts	0
Securities Sold under Agreements to Repurchase
Reverse repurchase agreements [Abstract]
Securities purchased under agreements to resell, net amount presented in the Balance Sheet,		79
Reverse repurchase agreements, collateral securities received		(79)
Reverse repurchase agreements, collateral cash received		0
Reverse repurchase agreements, net amounts		0
Securities sold under agreements to repurchase	2,038	1,890
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	(2,038)	(1,861)
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash	0	(29)
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral	0	0
Securities Borrowed | Investment Management
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Amount Offset Against Collateral	26	75
Securities Loaned
Reverse repurchase agreements [Abstract]
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral	17	$ 10
Variable Interest Entity, Primary Beneficiary | Investment Management
Offsetting Assets [Line Items]
Callateral Cash (Received)	(3)
Reverse repurchase agreements [Abstract]
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash	$ (21)

INVESTMENTS (DERIVATIVES GROS46

INVESTMENTS (DERIVATIVES GROSS COLLATERAL AMOUNTS LIABILITES) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Offsetting Liabilities [Line Items]
Repurchase agreements, net amount presented on the balance sheet	$ 2,038	$ 1,890
Investment Management
Offsetting Liabilities [Line Items]
Repurchase agreements, collateral cash held		(12)
Counterparty D
Offsetting Liabilities [Line Items]
Repurchase agreements, net amount presented on the balance sheet	675	234
Repurchase agreements, collateral securities held	(675)	(234)
Repurchase agreements, collateral cash held	0	0
Counterparty C
Offsetting Liabilities [Line Items]
Repurchase agreements, net amount presented on the balance sheet		1,033
Repurchase agreements, collateral securities held		(1,016)
Repurchase agreements, collateral cash held		(17)
Counterparty M
Offsetting Liabilities [Line Items]
Repurchase agreements, net amount presented on the balance sheet	398	623
Repurchase agreements, collateral securities held	(398)	(611)
Repurchase agreements, collateral cash held	0	(12)
Counterparty H
Offsetting Liabilities [Line Items]
Repurchase agreements, net amount presented on the balance sheet	965
Repurchase agreements, collateral securities held	(965)
Repurchase agreements, collateral cash held	0
Securities sold under agreement to repurchase
Offsetting Liabilities [Line Items]
Repurchase agreements, net amount presented on the balance sheet	2,038	1,890
Repurchase agreements, collateral securities held	(2,038)	(1,861)
Repurchase agreements, collateral cash held	$ 0	$ (29)

INVESTMENTS (REPURCHASE AGREEME

INVESTMENTS (REPURCHASE AGREEMENTS ACCCOUNTED FOR AS BORROWINGS) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Repurchase agreements accounted for as secured borrowings [Line Items]
Repurchase agreements	$ 2,038	$ 1,890
Reverse repurchase agreements	205	79
Maturity Overnight
Repurchase agreements accounted for as secured borrowings [Line Items]
Repurchase agreements	0	0
Reverse repurchase agreements	0	0
Maturity up to 30 days
Repurchase agreements accounted for as secured borrowings [Line Items]
Repurchase agreements	2,038	1,865
Reverse repurchase agreements	205	79
Maturity 30 to 90 Days
Repurchase agreements accounted for as secured borrowings [Line Items]
Repurchase agreements	0	25
Reverse repurchase agreements	0	0
Maturity over 90 days
Repurchase agreements accounted for as secured borrowings [Line Items]
Repurchase agreements	0	0
Reverse repurchase agreements	0	0
U.S. Treasury, government and agency
Repurchase agreements accounted for as secured borrowings [Line Items]
Repurchase agreements	2,038	1,890
U.S. Treasury, government and agency | Maturity Overnight
Repurchase agreements accounted for as secured borrowings [Line Items]
Repurchase agreements	0	0
U.S. Treasury, government and agency | Maturity up to 30 days
Repurchase agreements accounted for as secured borrowings [Line Items]
Repurchase agreements	2,038	1,865
U.S. Treasury, government and agency | Maturity 30 to 90 Days
Repurchase agreements accounted for as secured borrowings [Line Items]
Repurchase agreements	0	25
U.S. Treasury, government and agency | Maturity over 90 days
Repurchase agreements accounted for as secured borrowings [Line Items]
Repurchase agreements	0	0
Public corporate
Repurchase agreements accounted for as secured borrowings [Line Items]
Reverse repurchase agreements	205	79
Public corporate | Maturity Overnight
Repurchase agreements accounted for as secured borrowings [Line Items]
Reverse repurchase agreements	0	0
Public corporate | Maturity up to 30 days
Repurchase agreements accounted for as secured borrowings [Line Items]
Reverse repurchase agreements	205	79
Public corporate | Maturity 30 to 90 Days
Repurchase agreements accounted for as secured borrowings [Line Items]
Reverse repurchase agreements	0	0
Public corporate | Maturity over 90 days
Repurchase agreements accounted for as secured borrowings [Line Items]
Reverse repurchase agreements	0	0
Investment Management
Repurchase agreements accounted for as secured borrowings [Line Items]
Securities Loaned	0	0
Securities Borrowed | Investment Management
Repurchase agreements accounted for as secured borrowings [Line Items]
Net amounts presented in the balance sheets	$ 26	$ 75

INVESTMENTS (NET UNREALIZED INV

INVESTMENTS (NET UNREALIZED INVESTMENTS) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Reclassification adjustment for OTTI losses Included in Net earnings (loss)	$ (14)	$ 1
Balance, End of Period	1,021	1,462
Net Unrealized Gains (Losses) On Investments
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	690
Balance, End of Period	1,984
Net Unrealized Gains (Losses) On Investments | Unrealized Investment Gains Losses With OTTI Losses
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	16	10
Net investment gains (losses) arising during the period	10	(6)
Reclassification adjustment for OTTI losses excluded from Net earnings (loss)	0	0
Balance, End of Period	9	6
Net Unrealized Gains (Losses) On Investments | Unrealized Investment Gains Losses All Other
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	674	2,231
Net investment gains (losses) arising during the period	1,262	600
Reclassification adjustment for OTTI losses Included in Net earnings (loss)	16	(4)
Reclassification adjustment for OTTI losses excluded from Net earnings (loss)	23	0
Balance, End of Period	1,975	2,827
DAC | Unrealized Investment Gains Losses With OTTI Losses
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	0	0
Impact of net unrealized investment gains (losses) on DAC	0	0
Balance, End of Period	0	0
DAC | Unrealized Investment Gains Losses All Other
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	(82)	(122)
Impact of net unrealized investment gains (losses) on DAC	25	(15)
Balance, End of Period	(57)	(137)
Policyholders Liabilities | Unrealized Investment Gains Losses With OTTI Losses
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	(4)	0
Impact of net unrealized investment gains (losses) on policyholders liabilities	4	1
Balance, End of Period	0	1
Policyholders Liabilities | Unrealized Investment Gains Losses All Other
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	(213)	(368)
Impact of net unrealized investment gains (losses) on policyholders liabilities	(93)	(62)
Balance, End of Period	(306)	(430)
Deferred Income Tax Asset Liability | Unrealized Investment Gains Losses With OTTI Losses
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	(5)	(4)
Impact of net unrealized investment gains (losses) on Deferred income taxes	1	1
Balance, End of Period	(4)	(3)
Deferred Income Tax Asset Liability | Unrealized Investment Gains Losses All Other
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	(133)	(610)
Impact of net unrealized investment gains (losses) on Deferred income taxes	(432)	(184)
Balance, End of Period	(565)	(794)
AOCI Gain Losses Related to Net Unrealized Investment Gains Losses | Unrealized Investment Gains Losses With OTTI Losses
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	7	6
Net investment gains (losses) arising during the period	10	(6)
Reclassification adjustment for OTTI losses excluded from Net earnings (loss)	0	0
Impact of net unrealized investment gains (losses) on DAC	0	0
Impact of net unrealized investment gains (losses) on Deferred income taxes	(1)	(1)
Impact of net unrealized investment gains (losses) on policyholders liabilities	(4)	(1)
Balance, End of Period	5	4
AOCI Gain Losses Related to Net Unrealized Investment Gains Losses | Unrealized Investment Gains Losses All Other
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	246	1,131
Net investment gains (losses) arising during the period	1,262	600
Reclassification adjustment for OTTI losses Included in Net earnings (loss)	16	(4)
Reclassification adjustment for OTTI losses excluded from Net earnings (loss)	23	0
Impact of net unrealized investment gains (losses) on DAC	(25)	15
Impact of net unrealized investment gains (losses) on Deferred income taxes	432	184
Impact of net unrealized investment gains (losses) on policyholders liabilities	93	62
Balance, End of Period	1,047	1,466
Fixed Maturities | Net Unrealized Gains (Losses) On Investments | Unrealized Investment Gains Losses With OTTI Losses
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	16
Balance, End of Period	9
Fixed Maturities | Net Unrealized Gains (Losses) On Investments | Unrealized Investment Gains Losses All Other
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	676
Balance, End of Period	1,975
Fixed Maturities | AOCI Gain Losses Related to Net Unrealized Investment Gains Losses | Unrealized Investment Gains Losses With OTTI Losses
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Reclassification adjustment for OTTI losses Included in Net earnings (loss)	(17)	2
Fixed Maturities | Net Unrealized Gains (Losses) On Investmetns | Unrealized Investment Gains Losses With OTTI Losses
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Reclassification adjustment for OTTI losses Included in Net earnings (loss)	(17)	$ 2
Equity securities | Net Unrealized Gains (Losses) On Investments | Unrealized Investment Gains Losses All Other
Net Unrealized Investment Gains Losses Recognized In Aoci Roll Forward [Abstract]
Balance, beginning of year	(2)
Balance, End of Period	$ 0

CLOSED BLOCK (Details)

CLOSED BLOCK (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
CLOSED BLOCK LIABILITIES:
Future policy benefits, policyholders’ account balances and other	$ 7,296	$ 7,363
Policyholder dividend obligation	160	81	$ 230	$ 201
Other liabilities	71	100
Total Closed Block liabilities	7,527	7,544
ASSETS DESIGNATED TO THE CLOSED BLOCK:
Fixed maturities, available for sale, at fair value (amortized cost of $4,216 and $4,426)	4,466	4,599
Mortgage loans on real estate	1,738	1,575
Policy loans	872	881
Cash and other invested assets	101	49
Other assets	177	258
Total assets designated to the Closed Block	7,354	7,362
Excess of Closed Block liabilities over assets designated to the Closed Block	173	182
Closed Block Assets and Liabilities, Effect on Other Comprehensive Income (Loss) [Abstract]
Net unrealized investment gains (losses), net of deferred income tax (expense) benefit of $(35) and $(36) and policyholder dividend obligation of $(160) and $(81)	65	67
Maximum Future Earnings To Be Recognized From Closed Block Assets and Liabilities	$ 238	$ 249

CLOSED BLOCK (REVENUES AND EXPE

CLOSED BLOCK (REVENUES AND EXPENSES) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
REVENUES:
Premiums and other income	$ 63	$ 69
Net investment income (loss)	89	92
Net investment gains (losses)	1	1
Total revenues	153	162
BENEFITS AND OTHER DEDUCTIONS:
Policyholders’ benefits and dividends	136	153
Other operating costs and expenses	0	0
Total benefits and other deductions	136	153
Net revenues (loss) before income taxes	17	9
Income tax (expense) benefit	(6)	(3)
Net Revenues (Losses)	11	6
Closed Block Investments, Fixed Maturity, Available-for-sale, Amortized Cost	4,216		$ 4,426
Closed Block Operations, Deferred Income Tax (Expense) Benefit	(35)		(36)
Closed Block Liabilities Policyholder Dividend Obligation	$ (160)	$ (230)	$ (81)	$ (201)

CLOSED BLOCK (RECONCILIATION OF

CLOSED BLOCK (RECONCILIATION OF POLICYHOLDER DIVIDEND OBLIGATION) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Movement in Closed Block Dividend Obligation [Roll Forward]
Balances, beginning of year	$ 81	$ 201
Unrealized investment gains (losses), net of DAC	79	29
Balances, end of year	$ 160	$ 230

GMDB, GMIB, GIB, GWBL AND OTH52

GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Movement In Guaranteed Benefit Liability Gross [Line Items]
Balance, beginning of period	$ 8,283	$ 7,373
Paid guarantee benefits	(285)	(79)
Other changes in reserve	704	408
Balance, end of period	8,702	7,702
Guaranteed Minimum Death Benefit
Movement In Guaranteed Benefit Liability Gross [Line Items]
Balance, beginning of period	2,986	1,729
Paid guarantee benefits	(97)	(65)
Other changes in reserve	195	97
Balance, end of period	3,084	1,761
Guaranteed Minimum Income Benefit
Movement In Guaranteed Benefit Liability Gross [Line Items]
Balance, beginning of period	5,297	5,644
Paid guarantee benefits	(188)	(14)
Other changes in reserve	509	311
Balance, end of period	$ 5,618	$ 5,941

GMDB, GMIB, GIB, GWBL AND OTH53

GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES 1 (Details) - Guaranteed Minimum Death Benefit - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Guaranteed Minimum Death Benefit Reinsurance Ceded [Abstract]
Balance, beginning of year	$ 1,430	$ 832
Paid guarantee benefits	(47)	(30)
Other changes in reserve	116	46
Balance, End of Period	$ 1,499	$ 848

GMDB, GMIB, GIB, GWBL AND OTH54

GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES 2 (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Net Amount at Risk by Product and Guarantee [Line Items]
SCS, SIO, MSO, IUL, GWBL and other guaranteed benefits related liability	$ 601	$ 601	$ 494
Buyback program, option to elect partial buyout (as a percent)			50.00%
Impact on earnings from LSO offer to policyholders	4
Guaranteed Minimum Death Benefit
Net Amount at Risk by Product and Guarantee [Line Items]
Account Value Invested In General Account	13,624	13,624
Account Value Invested In Separate Accounts	83,673	83,673	$ 84,640
Net amount at risk, gross	19,578	19,578
Net amount at risk, net of amounts reinsured	9,424	$ 9,424
Average attained age of contractholders (in years)		55 years
Percentage of contractholders over age 70		16.70%
Guaranteed Minimum Death Benefit | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		3.00%
Guaranteed Minimum Death Benefit | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		6.50%
Guaranteed Minimum Death Benefit | Return of Premium
Net Amount at Risk by Product and Guarantee [Line Items]
Account Value Invested In General Account	13,178	$ 13,178
Account Value Invested In Separate Accounts	38,391	38,391
Net amount at risk, gross	397	397
Net amount at risk, net of amounts reinsured	397	$ 397
Average attained age of contractholders (in years)		51 years 2 months 12 days
Percentage of contractholders over age 70		9.10%
Guaranteed Minimum Death Benefit | Ratchet
Net Amount at Risk by Product and Guarantee [Line Items]
Account Value Invested In General Account	129	$ 129
Account Value Invested In Separate Accounts	8,542	8,542
Net amount at risk, gross	423	423
Net amount at risk, net of amounts reinsured	301	$ 301
Average attained age of contractholders (in years)		65 years 6 months
Percentage of contractholders over age 70		35.70%
Guaranteed Minimum Death Benefit | Roll-Up
Net Amount at Risk by Product and Guarantee [Line Items]
Account Value Invested In General Account	77	$ 77
Account Value Invested In Separate Accounts	3,396	3,396
Net amount at risk, gross	2,411	2,411
Net amount at risk, net of amounts reinsured	1,637	$ 1,637
Average attained age of contractholders (in years)		71 years 10 months 24 days
Percentage of contractholders over age 70		58.60%
Guaranteed Minimum Death Benefit | Roll-Up | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		3.00%
Guaranteed Minimum Death Benefit | Roll-Up | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		6.00%
Guaranteed Minimum Death Benefit | Roll-Up
Net Amount at Risk by Product and Guarantee [Line Items]
Account Value Invested In General Account	240	$ 240
Account Value Invested In Separate Accounts	33,344	33,344
Net amount at risk, gross	16,347	16,347
Net amount at risk, net of amounts reinsured	7,089	$ 7,089
Average attained age of contractholders (in years)		66 years 7 months 6 days
Percentage of contractholders over age 70		38.80%
Guaranteed Minimum Death Benefit | Roll-Up | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		3.00%
Guaranteed Minimum Death Benefit | Roll-Up | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		6.50%
Guaranteed Minimum Income Benefit
Net Amount at Risk by Product and Guarantee [Line Items]
Account Value Invested In General Account	381	$ 381
Account Value Invested In Separate Accounts	55,780	55,780	$ 56,559
Net amount at risk, gross	9,489	9,489
Net amount at risk, net of amounts reinsured	2,515	$ 2,515
Weighted average years remaining until annuitization		1 year 8 months 12 days
Guaranteed Minimum Income Benefit | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		3.00%
Guaranteed Minimum Income Benefit | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		6.50%
Guaranteed Minimum Income Benefit | Roll-Up
Net Amount at Risk by Product and Guarantee [Line Items]
Account Value Invested In General Account	37	$ 37
Account Value Invested In Separate Accounts	16,066	16,066
Net amount at risk, gross	1,332	1,332
Net amount at risk, net of amounts reinsured	397	$ 397
Weighted average years remaining until annuitization		1 year 4 months 24 days
Guaranteed Minimum Income Benefit | Roll-Up | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		3.00%
Guaranteed Minimum Income Benefit | Roll-Up | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		6.00%
Guaranteed Minimum Income Benefit | Roll-Up
Net Amount at Risk by Product and Guarantee [Line Items]
Account Value Invested In General Account	344	$ 344
Account Value Invested In Separate Accounts	39,714	39,714
Net amount at risk, gross	8,157	8,157
Net amount at risk, net of amounts reinsured	$ 2,118	$ 2,118
Weighted average years remaining until annuitization		1 year 8 months 12 days
Guaranteed Minimum Income Benefit | Roll-Up | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		3.00%
Guaranteed Minimum Income Benefit | Roll-Up | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)		6.50%

GMDB, GMIB, GIB, GWBL AND OTH55

GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES 3 (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Guaranteed Minimum Death Benefit
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate Account Investments by Investment Category	$ 83,673	$ 84,640
Price Risk Fair Value Hedge Derivative On Balance Sheet [Abstract]
Account value hedged of variable annuity contracts	50,040
Net amount at risk hedged of variable annuity contracts	8,214
Guaranteed Minimum Income Benefit
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate Account Investments by Investment Category	55,780	56,559
Price Risk Fair Value Hedge Derivative On Balance Sheet [Abstract]
Account value hedged of variable annuity contracts	33,000
Net amount at risk hedged of variable annuity contracts	2,114
Equity | Guaranteed Minimum Death Benefit
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate Account Investments by Investment Category	65,761	66,230
Equity | Guaranteed Minimum Income Benefit
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate Account Investments by Investment Category	43,452	43,874
Fixed income | Guaranteed Minimum Death Benefit
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate Account Investments by Investment Category	2,708	2,686
Fixed income | Guaranteed Minimum Income Benefit
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate Account Investments by Investment Category	1,818	1,819
Balanced | Guaranteed Minimum Death Benefit
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate Account Investments by Investment Category	14,822	15,350
Balanced | Guaranteed Minimum Income Benefit
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate Account Investments by Investment Category	10,344	10,696
Other | Guaranteed Minimum Death Benefit
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate Account Investments by Investment Category	382	374
Other | Guaranteed Minimum Income Benefit
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Separate Account Investments by Investment Category	$ 166	$ 170

GMDB, GMIB, GIB, GWBL AND OTH56

GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES 4 (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Direct Liability, Gross [Roll Forward]
Balance, beginning of period	$ 8,283	$ 7,373
Balance, end of period	8,702	7,702
Direct Liability
Direct Liability, Gross [Roll Forward]
Balance, beginning of period	1,084	964
Other changes in reserves	50	46
Balance, end of period	1,134	1,010
Reinsurance Ceded
Reinsurance Ceded [Roll Forward]
Balance, beginning of period	(539)	(555)
Other changes in reserves	(22)	(23)
Balance, end of period	(561)	(578)
Net
Direct Liability, Net [Roll Forward]
Balance, beginning of period	545	409
Other changes in reserves	28	23
Balance, end of period	$ 573	$ 432

FAIR VALUE DISCLOSURES (FAIR VA

FAIR VALUE DISCLOSURES (FAIR VALUE MEASUREMENTS) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	$ 34,555	$ 31,925
Trading securities	7,124	6,805
Fair Value, Measurements, Recurring
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	34,520	31,893
Other equity investments	93	146
Trading securities	7,124	6,805
Other invested assets	1,380	1,028
Cash equivalents	2,463	2,150
Segregated securities	724	565
GMIB reinsurance contract asset	12,207	10,570
Separate Accounts’ assets	106,701	107,335
Total Assets	165,521	160,492
Liabilities, Fair Value Disclosure [Abstract]
Contingent payment arrangements	31	31
Total Liabilities	698	525
Fair Value, Measurements, Recurring | Corporate
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	20,840	20,302
Fair Value, Measurements, Recurring | U.S. Treasury, government and agency
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	11,006	8,775
Fair Value, Measurements, Recurring | State and Political Sub- divisions
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	517	504
Fair Value, Measurements, Recurring | Foreign Govts
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	372	415
Fair Value, Measurements, Recurring | Commercial Mortgage- backed
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	471	533
Fair Value, Measurements, Recurring | Residential Mortgage- backed
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	617	640
Fair Value, Measurements, Recurring | Asset- backed
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	68	77
Fair Value, Measurements, Recurring | Redeemable Preferred Stock
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	629	647
Fair Value, Measurements, Recurring | Short-term investments
Investment Fair Value Disclosure [Abstract]
Other invested assets	463	369
Fair Value, Measurements, Recurring | Swaps
Investment Fair Value Disclosure [Abstract]
Other invested assets	468	230
Fair Value, Measurements, Recurring | Credit Default Swaps
Investment Fair Value Disclosure [Abstract]
Other invested assets	(11)	(22)
Fair Value, Measurements, Recurring | Futures
Investment Fair Value Disclosure [Abstract]
Other invested assets	(3)	(1)
Fair Value, Measurements, Recurring | Margin
Investment Fair Value Disclosure [Abstract]
Other invested assets	(5)
Fair Value, Measurements, Recurring | Options
Investment Fair Value Disclosure [Abstract]
Other invested assets	419	390
Fair Value, Measurements, Recurring | Floors
Investment Fair Value Disclosure [Abstract]
Other invested assets	50	61
Fair Value, Measurements, Recurring | Currency Contracts
Investment Fair Value Disclosure [Abstract]
Other invested assets	(1)	1
Fair Value, Measurements, Recurring | GWBL and Other Features’ liability
Liabilities, Fair Value Disclosure [Abstract]
Guarantees, Fair Value Disclosure	265	184
Fair Value, Measurements, Recurring | SCS, SIO, MSO and IUL indexed features’ liability
Liabilities, Fair Value Disclosure [Abstract]
Guarantees, Fair Value Disclosure	336	310
Fair Value, Measurements, Recurring | Level 1
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	237	258
Other equity investments	85	97
Trading securities	559	654
Other invested assets	(8)	(1)
Cash equivalents	2,463	2,150
Segregated securities	0
Separate Accounts’ assets	103,537	104,058
Total Assets	106,950	107,216
Fair Value, Measurements, Recurring | Level 1 | Corporate
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	0
Fair Value, Measurements, Recurring | Level 1 | Redeemable Preferred Stock
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	237	258
Fair Value, Measurements, Recurring | Level 1 | Futures
Investment Fair Value Disclosure [Abstract]
Other invested assets	(3)	(1)
Fair Value, Measurements, Recurring | Level 1 | Margin
Investment Fair Value Disclosure [Abstract]
Other invested assets	(5)
Fair Value, Measurements, Recurring | Level 2
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	33,255	30,626
Other equity investments	0	0
Trading securities	6,563	6,151
Other invested assets	1,388	1,029
Cash equivalents	0
Segregated securities	724	565
Separate Accounts’ assets	2,841	2,964
Total Assets	44,988	41,335
Liabilities, Fair Value Disclosure [Abstract]
Total Liabilities	402	310
Fair Value, Measurements, Recurring | Level 2 | Corporate
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	20,342	19,882
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury, government and agency
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	11,006	8,775
Fair Value, Measurements, Recurring | Level 2 | State and Political Sub- divisions
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	472	459
Fair Value, Measurements, Recurring | Level 2 | Foreign Govts
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	372	414
Fair Value, Measurements, Recurring | Level 2 | Commercial Mortgage- backed
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	23	30
Fair Value, Measurements, Recurring | Level 2 | Residential Mortgage- backed
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	617	640
Fair Value, Measurements, Recurring | Level 2 | Asset- backed
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	31	37
Fair Value, Measurements, Recurring | Level 2 | Redeemable Preferred Stock
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	392	389
Fair Value, Measurements, Recurring | Level 2 | Short-term investments
Investment Fair Value Disclosure [Abstract]
Other invested assets	463	369
Fair Value, Measurements, Recurring | Level 2 | Swaps
Investment Fair Value Disclosure [Abstract]
Other invested assets	468	230
Fair Value, Measurements, Recurring | Level 2 | Credit Default Swaps
Investment Fair Value Disclosure [Abstract]
Other invested assets	(11)	(22)
Fair Value, Measurements, Recurring | Level 2 | Futures
Investment Fair Value Disclosure [Abstract]
Other invested assets	0
Fair Value, Measurements, Recurring | Level 2 | Options
Investment Fair Value Disclosure [Abstract]
Other invested assets	419	390
Fair Value, Measurements, Recurring | Level 2 | Floors
Investment Fair Value Disclosure [Abstract]
Other invested assets	50	61
Fair Value, Measurements, Recurring | Level 2 | Currency Contracts
Investment Fair Value Disclosure [Abstract]
Other invested assets	(1)	1
Fair Value, Measurements, Recurring | Level 2 | GWBL and Other Features’ liability
Liabilities, Fair Value Disclosure [Abstract]
Guarantees, Fair Value Disclosure	0
Fair Value, Measurements, Recurring | Level 2 | SCS, SIO, MSO and IUL indexed features’ liability
Liabilities, Fair Value Disclosure [Abstract]
Guarantees, Fair Value Disclosure	336	310
Fair Value, Measurements, Recurring | Level 3
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	1,028	1,009
Other equity investments	8	49
Trading securities	2
GMIB reinsurance contract asset	12,207	10,570
Separate Accounts’ assets	323	313
Total Assets	13,583	11,941
Liabilities, Fair Value Disclosure [Abstract]
Contingent payment arrangements	31	31
Total Liabilities	296	215
Fair Value, Measurements, Recurring | Level 3 | Corporate
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	498	420
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury, government and agency
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	0
Fair Value, Measurements, Recurring | Level 3 | State and Political Sub- divisions
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	45	45
Fair Value, Measurements, Recurring | Level 3 | Foreign Govts
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	0	1
Fair Value, Measurements, Recurring | Level 3 | Commercial Mortgage- backed
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	448	503
Fair Value, Measurements, Recurring | Level 3 | Residential Mortgage- backed
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 3 | Asset- backed
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	37	40
Fair Value, Measurements, Recurring | Level 3 | Redeemable Preferred Stock
Investment Fair Value Disclosure [Abstract]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 3 | GWBL and Other Features’ liability
Liabilities, Fair Value Disclosure [Abstract]
Guarantees, Fair Value Disclosure	265	$ 184
Variable Interest Entity, Primary Beneficiary | Fair Value, Measurements, Recurring
Investment Fair Value Disclosure [Abstract]
Consolidated VIE investments	243
Derivative Asset	66
Liabilities, Fair Value Disclosure [Abstract]
Derivative Liability	66
Variable Interest Entity, Primary Beneficiary | Fair Value, Measurements, Recurring | Level 1
Investment Fair Value Disclosure [Abstract]
Consolidated VIE investments	77
Variable Interest Entity, Primary Beneficiary | Fair Value, Measurements, Recurring | Level 2
Investment Fair Value Disclosure [Abstract]
Consolidated VIE investments	151
Derivative Asset	66
Liabilities, Fair Value Disclosure [Abstract]
Derivative Liability	66
Variable Interest Entity, Primary Beneficiary | Fair Value, Measurements, Recurring | Level 3
Investment Fair Value Disclosure [Abstract]
Consolidated VIE investments	$ 15

FAIR VALUE DISCLOSURES (TEXTUAL

FAIR VALUE DISCLOSURES (TEXTUAL) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Fixed maturities, available-for-sale	$ 34,555,000,000		$ 31,925,000,000
Fair value freestanding contract	$ 917,000,000		$ 659,000,000
Freestanding contract invested assets (as a percent)	66.40%		64.10%
Fair value adjustments on GMIB asset	$ 161,000,000		$ 123,000,000
Transfers out of Level 3	(4,000,000)	$ (61,000,000)
Transfers into level 3	$ 42,000,000	$ 41,000,000
Transfers out of Levels 2 and 3 to Total Equity (as a percent)	0.30%	0.50%
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Assets measured at fair value on recurring basis (as a percent)	70.10%		71.80%
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Assets measured at fair value on recurring basis (as a percent)	29.00%		27.30%
Mortgages and asset-backed securities owned	$ 640,000,000		$ 673,000,000
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Assets measured at fair value on recurring basis (as a percent)	0.90%		0.90%
Mortgages and asset-backed securities owned	$ 485,000,000		$ 543,000,000
Fair value disclosures broker priced	144,000,000		119,000,000
Public Fixed Maturities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Fixed maturities, available-for-sale	$ 26,837,000,000		24,216,000,000
Available-for-sale fixed maturity assets measured at fair value on recurring basis (as a percent)	17.60%	16.20%
Private Fixed Maturities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Fixed maturities, available-for-sale	$ 7,683,000,000		$ 7,677,000,000
Available-for-sale fixed maturity assets measured at fair value on recurring basis (as a percent)	5.00%	5.40%
Variable Interest Entity, Primary Beneficiary | Level 3 | Adjustments for New Accounting Pronouncement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Quantitative Disclosure [Line Items]
Transfers into level 3	$ 5

FAIR VALUE DISCLOSURES (LEVEL 3

FAIR VALUE DISCLOSURES (LEVEL 3 UNOBSERVABLE INPUT RECONCILIATION) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Total Gains Losses Realized Unrealized Included In [Abstract]
Transfers into level 3	$ (42)	$ (41)
Transfers out of Level 3	(4)	(61)
Corporate | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	420	380
Total Gains Losses Realized Unrealized Included In [Abstract]
Subtotal	0	0
Other comprehensive income (loss)	10	4
Purchases	62	30
Sales	(36)	(8)
Transfers into level 3	(42)	39
Transfers out of Level 3		(46)
Closing Balance	498	399
State and Political Sub- divisions | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	45	47
Total Gains Losses Realized Unrealized Included In [Abstract]
Subtotal	0	0
Other comprehensive income (loss)		1
Closing Balance	45	48
Foreign Govts | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	1	0
Total Gains Losses Realized Unrealized Included In [Abstract]
Subtotal	0	0
Transfers into level 3		(2)
Transfers out of Level 3	(1)
Closing Balance	0	2
Commercial Mortgage- backed | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	503	715
Total Gains Losses Realized Unrealized Included In [Abstract]
Investment Gains (Losses), Net	(6)	(2)
Subtotal	(6)	(2)
Other comprehensive income (loss)	(12)	13
Purchases	0	0
Sales	(34)	(25)
Transfers out of Level 3	(3)	(15)
Closing Balance	448	686
Residential Mortgage- backed | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	0	2
Total Gains Losses Realized Unrealized Included In [Abstract]
Subtotal	0	0
Closing Balance	0	2
Asset- backed | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	40	53
Total Gains Losses Realized Unrealized Included In [Abstract]
Subtotal	0	0
Other comprehensive income (loss)		(1)
Sales	(3)	(1)
Closing Balance	37	51
Redeemable Preferred Stock | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	0	0
Total Gains Losses Realized Unrealized Included In [Abstract]
Subtotal	0	0
Closing Balance	0	0
Other Equity Investments | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	17	61
Total Gains Losses Realized Unrealized Included In [Abstract]
Investment Gains (Losses), Net		(5)
Subtotal	0	(5)
Other comprehensive income (loss)		3
Purchases	2
Transfers into level 3	(6)
Closing Balance	25	59
GMIB Reinsurance Asset | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	10,570	10,711
Total Gains Losses Realized Unrealized Included In [Abstract]
Increase (Decrease) in the Fair Value of the Reinsurance Contract Asset	1,598	645
Subtotal	1,598	645
Purchases	55	56
Sales	(16)	11
Closing Balance	12,207	11,401
Separate Accounts Assets | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	313	260
Total Gains Losses Realized Unrealized Included In [Abstract]
Investment Gains (Losses), Net	7	8
Subtotal	7	8
Purchases	6	3
Sales		(1)
Settlements	(3)	1
Transfers out of Level 3		2
Closing Balance	323	267
GWBL and Other Features’ Liability | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	184	128
Total Gains Losses Realized Unrealized Included In [Abstract]
Policyholders’ benefits	30	(2)
Subtotal	30	(2)
Purchases	51	41
Closing Balance	265	167
Contingent Payment Arrangement | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening Balance	31	42
Total Gains Losses Realized Unrealized Included In [Abstract]
Net investment income (loss)	1	1
Subtotal	1	1
Purchases		0
Settlements	1	1
Closing Balance	$ 31	$ 42

FAIR VALUE DISCLOSURES (UNREALI

FAIR VALUE DISCLOSURES (UNREALIZED GAINS (LOSSES) FOR LEVEL 3 STILL HELD) (Details) - Level 3 Assets And Liabilities Still Held - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Corporate
Change in Accounting Estimate [Line Items]
OCI	$ 11	$ 5
State and Political Sub- divisions
Change in Accounting Estimate [Line Items]
OCI		1
Commercial Mortgage- backed
Change in Accounting Estimate [Line Items]
OCI	(12)	12
Asset-backed Securities
Change in Accounting Estimate [Line Items]
OCI	0	(1)
Total Debt Maturities Available For Sale
Change in Accounting Estimate [Line Items]
Investment Gains (Losses), Net	7	8
Increase (Decrease) in the Fair Value of the Reinsurance Contract Asset	1,637	690
OCI	(1)	17
Policy- holders’ Benefits	81	(39)
Gmib Reinsurance
Change in Accounting Estimate [Line Items]
Increase (Decrease) in the Fair Value of the Reinsurance Contract Asset	1,637	690
Separate Accounts Assets
Change in Accounting Estimate [Line Items]
Investment Gains (Losses), Net	7	8
GWBL and Other Features’ Liability
Change in Accounting Estimate [Line Items]
Policy- holders’ Benefits	$ 81	$ (39)

FAIR VALUE DISCLOSURES (QUANTIT

FAIR VALUE DISCLOSURES (QUANTITATIVE INFORMATION ABOUT LEVEL 3) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)fund	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value measurements not included In quantitative information about level 3	$ 825	$ 865
Level 3 fair value measurements not included in quantitative information classified as level 3 (as a percent)	60.00%	63.10%
Level 3 fair value measurements not included in quantitative information as a percentage of total assets measured at fair value on a recurring basis (as a percent)	0.50%	0.60%
Corporate | Matrix Pricing Model | Private Available For Sale Corporate Securities
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	$ 252	$ 215
Percentage of level 3 asset fair value (as a percent)	50.60%	51.20%
Asset-backed Securities | Matrix Pricing Model
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Percentage of level 3 asset fair value (as a percent)	8.10%	7.50%
Separate Accounts | Mortgage Backed Securities
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	$ 32	$ 28
Separate Accounts | Asset-backed Securities
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	5	7
Separate Accounts | Third Party Appraisal | Mortgage Loans on Real Estate
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	5	5
Separate Accounts | Third Party Appraisal | Private Real Estate Fund
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	280	271
Separate Accounts | Third Party Appraisal | Private Equity Funds
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	1	2
Contingent Payment Arrangement
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	$ 31
Fair value inputs, assets under management growth rate (as a percent)	46.00%
Fair value inputs, long-term revenue growth rate (as a percent)	43.00%
Maximum | Contingent Payment Arrangement
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, discount rate (as a percent)	3.00%
Level 3 | Gmib Reinsurance | Discounted Cash Flow
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	$ 12,207	10,570
Level 3 | Corporate | Matrix Pricing Model
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	70	61
Level 3 | Corporate | Market Comparable Companies
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	182	154
Level 3 | Asset-backed Securities | Matrix Pricing Model
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	3	3
Level 3 | Other Equity Investments | Market Comparable Companies
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	10	10
Level 3 | Separate Accounts | Third Party Appraisal
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	280	271
Level 3 | Separate Accounts | Discounted Cash Flow
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	6	7
Level 3 | GMWB and GWBL | Discounted Cash Flow
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	$ 265	$ 184
Other Invested Assets | Market Comparable Companies
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, discount rate (as a percent)	30.00%	30.00%
Other Invested Assets | Minimum | Market Comparable Companies
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, revenue multiple	2.7	2.5
Other Invested Assets | Maximum | Market Comparable Companies
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, revenue multiple	4.4	4.8
GMWB and GWBL | Minimum | Discounted Cash Flow
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, lapse rates (as a percent)	1.00%	1.00%
Fair value inputs, withdrawal rates (as a percent)	0.00%	0.00%
Fair value input, expected volatility rate (as a percent)	8.00%	9.00%
GMWB and GWBL | Maximum | Discounted Cash Flow
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, lapse rates (as a percent)	11.00%	11.00%
Fair value inputs, withdrawal rates (as a percent)	8.00%	8.00%
Fair value input, expected volatility rate (as a percent)	34.00%	35.00%
Gmib Reinsurance | Minimum | Discounted Cash Flow
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, lapse rates (as a percent)	1.50%	0.60%
Fair value inputs, withdrawal rates (as a percent)	0.00%	0.20%
Fair value inputs, GIMB utilization rates (as a percent)	0.00%	0.00%
Fair value inputs, non-performance risk (bps)	4	5
Fair value input, expected volatility rate (as a percent)	8.00%	9.00%
Gmib Reinsurance | Maximum | Discounted Cash Flow
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, lapse rates (as a percent)	5.70%	5.70%
Fair value inputs, withdrawal rates (as a percent)	8.00%	8.00%
Fair value inputs, GIMB utilization rates (as a percent)	8.00%	15.00%
Fair value inputs, non-performance risk (bps)	16	18
Fair value input, expected volatility rate (as a percent)	34.00%	35.00%
Gmib Reinsurance | Level 3
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	$ 12,207	$ 10,570	$ 11,401	$ 10,711
Separate Accounts | Third Party Appraisal
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, discount rate (as a percent)	6.70%	6.70%
Fair value inputs, capitalization rate (as a percent)	4.80%	4.90%
Fair value inputs, exit capitalization rate (as a percent)	5.80%	5.90%
Separate Accounts | Minimum | Discounted Cash Flow
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, spread over industry yield curve (bps)	287	280
Fair value inputs, discount rate (as a percent)	2.10%	2.30%
Fair value inputs, inflation rate (as a percent)	0.00%	0.00%
Separate Accounts | Maximum | Discounted Cash Flow
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, spread over industry yield curve (bps)	424	411
Fair value inputs, discount rate (as a percent)	5.50%	5.90%
Fair value inputs, inflation rate (as a percent)	0.00%	1.90%
Separate Accounts | Level 3
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	$ 323	$ 313	267	260
Asset-backed Securities | Minimum | Matrix Pricing Model
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, spread over industry yield curve (bps)	30	30
Asset-backed Securities | Maximum | Matrix Pricing Model
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, spread over industry yield curve (bps)	687	687
Asset-backed Securities | Level 3
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	$ 37	$ 40	51	53
Corporate | Minimum | Matrix Pricing Model
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, spread over industry yield curve (bps)	25	50
Corporate | Minimum | Market Comparable Companies
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, earnings before interest, taxes, depreciation and amortization multiple	5.9	7.8
Fair value inputs, discount rate (as a percent)	7.00%	7.00%
Fair value inputs, cash flow multiple	14	14
Corporate | Maximum | Matrix Pricing Model
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, spread over industry yield curve (bps)	565	565
Corporate | Maximum | Market Comparable Companies
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value inputs, earnings before interest, taxes, depreciation and amortization multiple	18.3	19.1
Fair value inputs, discount rate (as a percent)	13.50%	12.60%
Fair value inputs, cash flow multiple	16.5	16.5
Corporate | Level 3
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	$ 498	$ 420	$ 399	$ 380
Variable Interest Entity, Not Primary Beneficiary | Level 3 | Corporate Bonds | Vendor Priced With No Ratings | Open-end Luxembourg Fund
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis	$ 5
Investment Management | Variable Interest Entity, Not Primary Beneficiary
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Number of Investment Funds | fund	3

FAIR VALUE DISCLOSURES (CARRYIN

FAIR VALUE DISCLOSURES (CARRYING VALUES AND FAIR VALUES OF FINANCIAL INSTRUMENTS) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Consolidated Amounts [Abstract]
Mortgage loans on real estate	$ 7,696	$ 7,171
Policy loans	3,381	3,393
Loans to affiliates	704	1,087
Policyholders' account balances, Investment contracts	33,710	33,033
Short-term debt	486	584
Separate Accounts’ liabilities	106,873	107,497
Estimate of Fair Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	7,865	7,257
Policy loans	4,451	4,343
Loans to affiliates	795	1,185
Policyholders' account balances, Investment contracts	2,868	2,806
Short-term debt	486	584
Separate Accounts’ liabilities	5,310	5,124
Estimate of Fair Value | Level 2
Consolidated Amounts [Abstract]
Loans to affiliates	795	795
Short-term debt	486	584
Estimate of Fair Value | Level 3
Consolidated Amounts [Abstract]
Mortgage loans on real estate	7,865	7,257
Policy loans	4,451	4,343
Loans to affiliates	0	390
Policyholders' account balances, Investment contracts	2,868	2,806
Short-term debt	0	0
Separate Accounts’ liabilities	5,310	5,124
Carrying Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	7,696	7,171
Policy loans	3,381	3,393
Loans to affiliates	704	1,087
Policyholders' account balances, Investment contracts	2,700	2,701
Short-term debt	486	584
Separate Accounts’ liabilities	$ 5,310	$ 5,124

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
401(k) contribution expense recognized	$ 4,000,000	$ 4,000,000
Alliance Bernstein
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer discretionary contribution amount	0
Defined contribution plan, minimum employer discretionary contribution	0
AB Qualified Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	2,000,000
Interest cost	1,000,000	23,000,000
Expected return on assets	(1,000,000)	(39,000,000)
Net amortization	0	30,000,000
Net Periodic Pension Expense	$ 0	$ 16,000,000

SHARE-BASED COMPENSATION PROG64

SHARE-BASED COMPENSATION PROGRAMS (Details) - USD ($)	Mar. 22, 2016	Mar. 16, 2016	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			$ 2,607,000	$ 2,972,000
Purchased Holding Units to help fund anticipated obligations under its incentive compensation award program Value			$ 40,000,000	$ 17,000,000
Alliance Bernstein
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchased Holding Units to help fund anticipated obligations under its incentive compensation award program shares (in shares)			1,900,000	700,000
Purchased Holding Units to help fund anticipated obligations under its incentive compensation award program Value			$ 40,000,000	$ 17,000,000
Open market purchase (in shares)			1,800,000	600,000
Open market purchase value			$ 38,000,000	$ 15,000,000
Restricted holding unit awards granted to employees (in shares)			300,000	100,000
Performance Units/Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			$ 2,218,000	$ 862,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			109,000	130,000
Employee Stock Option | Alliance Bernstein
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			0	1,900,000
Restricted Stock | Alliance Bernstein
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			1,200,000	0
Other compensation plan | Parent Company
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			(920,000)	$ 80,000
Performance Unit Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			985,599
Performance Unit Plan Year 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award equity instruments other than options equity settlement of vested units with ordinary shares value	$ 55,000,000
Performance shares earned (in shares)	2,293,998
Stock Option Plan 2015 | Parent Company
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			$ 24,850
AXA Miles Program 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award equity instruments other than options equity settlement of vested units with ordinary shares value		$ 4,000,000
Performance shares earned (in shares)		164,150

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	1 Months Ended			3 Months Ended
	Jan. 31, 2016	Nov. 30, 2014	Jun. 30, 2009	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Guaranteed minimum income benefit reinsurance contract asset, at fair value				$ 12,207		$ 10,570
Due from affiliates				704		1,087
AXA Financial
Related party transaction expenses				11	$ 11
AXA Financial | Mortgage Note 2014
Due from affiliates		$ 382
Related party transaction mortgage note payable, interest rate (as a percent)		4.00%
Debt instrument, term (in years)		7 years
Repayment of loans from affiliates	$ 382
Repayments of related party debt, prepayment penalty	$ 65
AXA Distribution
Related party transaction expenses				148	145
Revenue from related party transactions				82	82
AXA Equitable
Revenue from related party transactions				29	19
Receivable (payable) related to certain intercompany cost sharing and service agreements, net				1		1
Gain on sale of assets				20
Proceeds from Sale of Other Assets				20
AXA Equitable | Mortgage Note 2009
Mortgage loans on real estate, carrying amount of mortgages			$ 1,100
Due from affiliates			400
Proceeds from sale of real estate held-for-investment			$ 700
Related party transaction mortgage note payable, interest rate (as a percent)			8.00%
Debt instrument, term (in years)			10 years
Axa Equitable and Alliance Bernstein
Related party transaction expenses				38	33
Axa and Axa Affiliates
Revenue from related party transactions				4	3
AXA Arizona
Guaranteed minimum income benefit reinsurance contract asset, at fair value				10,075		$ 8,741
Ceded premiums earned affiliated				107	109
Reinsurance effect on claims and benefits incurred amount ceded to affiliates				25	$ 16
AXA Foundation
Proceeds from sale of assets				$ 20

ACCUMULATED OTHER COMPREHENSI66

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (CUMMULATIVE GAINS (LOSSES)) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Unrealized gains (losses) on investments	$ 1,021		$ 1,462
Foreign currency translation adjustments	(49)		(46)
Defined benefit pension plans	(12)		(761)
Total accumulated other comprehensive income (loss)	960		655
Less: Accumulated other comprehensive (income) loss attributable to noncontrolling interest	54		51
Accumulated Other Comprehensive Income (Loss) Attributable to AXA Equitable	$ 1,014	$ 228	$ 706

ACCUMULATED OTHER COMPREHENSI67

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (COMPONENTS OF OCI, NET OF TAXES) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Foreign currency translation adjustments:
Foreign currency translation gains (losses) arising during the period	$ 9	$ (12)
(Gains) losses reclassified into net earnings (loss) during the period	0	0
Foreign currency translation adjustment	9	(12)
Net unrealized gains (losses) arising during the period
Net unrealized gains (losses) arising during the period	814	386
(Gains) losses reclassified into net earnings (loss) during the period(1)	14	(1)
Net unrealized gains (losses) on investments	828	385
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other	(48)	(46)
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $427 and $181)	780	339
Less: reclassification adjustments to net earnings (loss) for (2):
Net gain (loss) arising during the period	0	19
Change in defined benefit plans (net of deferred income tax expense (benefit) of $0 and $10)	0	(19)
Total other comprehensive income (loss), net of income taxes	789	346
Less: Other comprehensive (income) loss attributable to noncontrolling interest	(3)	9
Other Comprehensive Income (Loss) Attributable to AXA Equitable	786	355
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract]
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax	427	181
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Available for sale securities, Tax	(8)	1
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax	$ 0	$ 10

COMMITMENT AND CONTINGENT LIA68

COMMITMENT AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
AXA Equitable
Restructuring and Related Cost [Abstract]
Letters of credit outstanding	$ 18
Equity financing arrangements with Limited Partnerships	585
Equity financing arrangements with affiliates	243
Mortgage loans on real estate	885
AXA Equitable | Federal Home Loan Bank of New York
Restructuring and Related Cost [Abstract]
Federal Home Loan Bank advances, maximum borrowing capacity	4,000
Federal Home Loan Bank advances, outstanding balance	500	$ 500
Facility Closing | Other Operating Costs and Expenses | Alliance Bernstein | AB Consolidation Plan
Restructuring and Related Cost [Abstract]
Restructuring Charges	$ 28

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Segment revenues	$ 5,034	$ 3,567
Segment earnings (loss) from continuing operations, before income taxes	2,454	1,130
Segment assets	199,983		$ 194,626
Consolidation/Elimination
Segment Reporting Information [Line Items]
Segment revenues	5	6
Segment earnings (loss) from continuing operations, before income taxes	1	0
Segment assets	(1)		(7)
Insurance
Segment Reporting Information [Line Items]
Segment revenues	4,270	2,810
Segment earnings (loss) from continuing operations, before income taxes	2,284	983
Segment assets	187,532		182,738
Insurance | Intersegment Eliminations
Segment Reporting Information [Line Items]
Segment interest expense, debt	12	12
Investment Management
Segment Reporting Information [Line Items]
Segment revenues	769	763
Segment earnings (loss) from continuing operations, before income taxes	169	147
Segment assets	12,452		11,895
Fair value of marketable securities	635		460
Cash segregated in special bank accounts	89		$ 55
Investment Management | Intersegment Eliminations
Segment Reporting Information [Line Items]
Segment investment advisory fees	$ 17	$ 18