Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	Apr. 29, 2014
Document and Entity Information
Entity Registrant Name	AMERICAN INTERNATIONAL GROUP INC
Entity Central Index Key	0000005272
Document Type	10-Q
Document Period End Date	Mar. 31, 2014
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,446,648,914
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fixed maturity securities:
Bonds available for sale, at fair value (amortized cost: 2014 - $249,200; 2013 - $248,531)	$ 262,937	$ 258,274
Other bond securities, at fair value (See note 6)	21,718	22,623
Equity securities:
Common and preferred stock available for sale, at fair value (cost: 2014 - $2,076; 2013 - $1,726)	3,878	3,656
Other common and preferred stock, at fair value (See note 6)	725	834
Mortgage and other loans receivable, net of allowance	21,569	20,765
Other invested assets (portion measured at fair value: 2014 - $8,867; 2013 - $8,598)	29,050	28,659
Short-term investments (portion measured at fair value: 2014 - $3,753; 2013 - $6,313)	17,658	21,617
Total investments	357,535	356,428
Cash	2,490	2,241
Accrued investment income	2,924	2,905
Premiums and other receivables, net of allowance	14,269	12,939
Reinsurance assets, net of allowance	25,346	23,829
Deferred income taxes	21,631	21,925
Deferred policy acquisition costs	9,217	9,436
Derivative assets, at fair value	1,601	1,665
Other assets, including restricted cash of $862 in 2014 and $865 in 2013 (portion measured at fair value: 2014 - $0; 2013 - $418)	8,738	9,366
Separate account assets, at fair value	72,593	71,059
Assets held for sale	30,767	29,536
Total assets	547,111	541,329
Liabilities:
Liability for unpaid claims and claims adjustment expense	81,155	81,547
Unearned premiums	23,383	21,953
Future policy benefits for life and accident and health insurance contracts	41,419	40,653
Policyholder contract deposits (portion measured at fair value: 2014 - $831; 2013 - $384)	122,839	122,016
Other policyholder funds	4,802	5,083
Derivative liabilities, at fair value	3,039	2,511
Other liabilities (portion measured at fair value: 2014 - $538; 2013 - $933)	28,138	29,155
Long-term debt (portion measured at fair value: 2014 - $6,019; 2013 - $6,747)	39,508	41,693
Separate account liabilities	72,593	71,059
Liabilities held for sale	25,815	24,548
Total liabilities	442,691	440,218
Contingencies, commitments and guarantees (see Note 10)
Redeemable noncontrolling interests (see Note 12)	27	30
AIG shareholders' equity:
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2014 - 1,906,655,640 and 2013 - 1,906,645,689	4,766	4,766
Treasury stock, at cost; 2014 - 460,007,853; 2013 - 442,582,366 shares of common stock	(15,386)	(14,520)
Additional paid-in capital	80,975	80,899
Retained earnings	24,393	22,965
Accumulated other comprehensive income (loss)	9,085	6,360
Total AIG shareholders' equity	103,833	100,470
Non-redeemable noncontrolling interests (including $100 associated with businesses held for sale)	560	611
Total equity	104,393	101,081
Total liabilities and equity	$ 547,111	$ 541,329

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical - assets and liabilities) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Assets:
Bonds available for sale, amortized cost	$ 249,200	$ 248,531
Common and preferred stock available for sale, cost	2,076	1,726
Other invested assets, portion measured at fair value	8,867	8,598
Short-term investments, portion measured at fair value	3,753	6,313
Other assets, restricted cash	862	865
Other assets, portion measured at fair value	0	418
Liabilities:
Policyholder contract deposits, portion measured at fair value	831	384
Other liabilities, portion measured at fair value	538	933
Long-term debt, portion measured at fair value	$ 6,019	$ 6,747

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical - equity) (USD $)	Mar. 31, 2014	Dec. 31, 2013
AIG shareholders' equity:
Common stock, par value (in dollars per share)	$ 2.5	$ 2.5
Common stock, shares authorized	5,000,000,000	5,000,000,000
Common stock, shares issued	1,906,655,640	1,906,645,689
Treasury Stock, Shares of common stock	460,007,853	442,582,366
Non-redeemable noncontrolling interests, associated with businesses held for sale (in dollars)	$ 100	$ 100

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues:
Premiums	$ 9,038	$ 9,372
Policy fees	692	615
Net investment income	4,196	4,164
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities	(50)	(40)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income (loss)	(4)	(1)
Net other-than-temporary impairments on available for sale securities recognized in net income (loss)	(54)	(41)
Other realized capital gains (losses)	(159)	341
Total net realized capital gains (losses)	(213)	300
Aircraft leasing revenue	1,113	1,074
Other income	1,286	1,437
Total revenues	16,112	16,962
Benefits, claims and expenses:
Policyholder benefits and claims incurred	6,797	6,728
Interest credited to policyholder account balances	955	1,017
Amortization of deferred policy acquisition costs	1,305	1,286
Other acquisition and insurance expenses	2,117	2,238
Interest expense	479	577
Aircraft leasing expenses	1,096	1,031
Loss (gain) on Extinguishment of Debt	238	340
Gain (loss) on sales of properties and divested businesses	(4)	0
Other expenses	856	870
Total benefits, claims and expenses	13,839	14,087
Income (loss) from continuing operations before income tax expense (benefit)	2,273	2,875
Income tax expense (benefit)	614	717
Income (loss) from continuing operations	1,659	2,158
Income (loss) from discontinued operations, net of income tax expense (benefit)	(47)	73
Net income (loss)	1,612	2,231
Less:
Less: Net income from continuing operations attributable to noncontrolling interests	3	25
Net income (loss) attributable to AIG	$ 1,609	$ 2,206
Basic:
Income (loss) from continuing operations - basic (in dollars per share)	$ 1.13	$ 1.44
Income (loss) from discontinued operations - basic (in dollars per share)	$ (0.03)	$ 0.05
Net income attributable to AIG - basic (in dollars per share)	$ 1.1	$ 1.49
Diluted:
Income (loss) from continuing operations - diluted (in dollars per share)	$ 1.12	$ 1.44
Income (loss) from discontinued operations - diluted (in dollars per share)	$ (0.03)	$ 0.05
Net income attributable to AIG - diluted (in dollars per share)	$ 1.09	$ 1.49
Weighted average shares outstanding:
Basic (in shares)	1,459,249,393	1,476,471,097
Diluted (in shares)	1,472,510,813	1,476,678,931
Dividend declared per common share (in dollars per share)	$ 0.125

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income (loss)	$ 1,612	$ 2,231
Other comprehensive income (loss), net of tax
Change in unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were taken	89	282
Change in unrealized appreciation (depreciation) of all other investments	2,785	(788)
Change in foreign currency translation adjustments	(158)	(273)
Change in retirement plan liabilities adjustment	9	44
Other comprehensive income (loss)	2,725	(735)
Comprehensive income (loss)	4,337	1,496
Comprehensive income (loss) attributable to noncontrolling interests	3	25
Comprehensive income (loss) attributable to AIG	$ 4,334	$ 1,471

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (USD $) In Millions, unless otherwise specified	Total	Total AIG Shareholders' Equity	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Non redeemable Non-controlling Interests
Balance at Dec. 31, 2012	$ 98,669	$ 98,002	$ 4,766	$ (13,924)	$ 80,410	$ 14,176	$ 12,574	$ 667
Increase (Decrease) in Stockholders' Equity
Net income (loss) attributable to AIG or other noncontrolling interests	2,216	2,206	0	0	0	2,206	0	10
Other comprehensive income (loss)	(736)	(735)	0	0	0	0	(735)	(1)
Contributions from noncontrolling interests	8	0	0	0	0	0	0	8
Distributions to noncontrolling interests	(19)	0	0	0	0	0	0	(19)
Other	45	47	0	1	46	0	0	(2)
Balance at Mar. 31, 2013	100,183	99,520	4,766	(13,923)	80,456	16,382	11,839	663
Balance at Dec. 31, 2013	101,081	100,470	4,766	(14,520)	80,899	22,965	6,360	611
Increase (Decrease) in Stockholders' Equity
Purchase of common stock	(867)	(867)	0	(867)	0	0	0	0
Net income (loss) attributable to AIG or other noncontrolling interests	1,612	1,609	0	0	0	1,609	0	3
Dividends	(182)	(182)	0	0	0	(182)	0	0
Other comprehensive income (loss)	2,725	2,725	0	0	0	0	2,725	0
Net increase (decrease) due to consolidation	(34)	0	0	0	0	0	0	(34)
Contributions from noncontrolling interests	5	0	0	0	0	0	0	5
Distributions to noncontrolling interests	(22)	0	0	0	0	0	0	(22)
Other	75	78	0	1	76	1	0	(3)
Balance at Mar. 31, 2014	$ 104,393	$ 103,833	$ 4,766	$ (15,386)	$ 80,975	$ 24,393	$ 9,085	$ 560

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:
Net income (loss)	$ 1,612	$ 2,231
(Income) loss from discontinued operations	47	(73)
Noncash revenues, expenses, gains and losses included in income (loss):
Net (gains) losses on sales of securities available for sale and other assets	(246)	(339)
Net (gains) losses on sales of divested businesses	(4)	0
Net (gains) losses on extinguishment of debt	238	340
Unrealized (gains) losses in earnings - net	585	(765)
Equity in (income) loss from equity method investments, net of dividends or distributions	(441)	(442)
Depreciation and other amortization	1,121	1,203
Impairments of assets	138	139
Changes in operating assets and liabilities:
Property casualty and life insurance reserves	1,495	643
Premiums and other receivables and payables - net	(701)	(458)
Reinsurance assets and funds held under reinsurance treaties	(1,532)	(2,035)
Capitalization of deferred policy acquisition costs	(1,462)	(1,422)
Current and deferred income taxes - net	450	613
Other, net	(537)	216
Total adjustments	(896)	(2,307)
Net cash provided by (used in) operating activities	763	(149)
Sales or distribution of:
Available for sale investments	6,365	7,346
Other securities	1,725	1,728
Other invested assets	1,041	1,741
Maturities of fixed maturity securities available for sale	5,347	5,617
Principal payments received on and sales of mortgage and other loans receivable	765	712
Purchases of:
Available for sale investments	(11,592)	(15,290)
Other securities	(181)	(822)
Other invested assets	(1,218)	(1,762)
Mortgage and other loans receivable	(1,307)	(788)
Net change in restricted cash	(667)	296
Net change in short-term investments	3,588	5,479
Other, net	(83)	(293)
Net cash provided by (used in) investing activities	3,783	3,964
Proceeds from (payments for)
Policyholder contract deposits	4,008	3,262
Policyholder contract withdrawals	(3,548)	(4,458)
Issuance of long-term debt	1,583	1,395
Repayments of long-term debt	(3,281)	(4,337)
Purchase of Common Stock	(867)	0
Dividends paid	(182)
Other, net	(2,002)	420
Net cash provided by (used in) financing activities	(4,289)	(3,718)
Effect of exchange rate changes on cash	(11)	(36)
Net increase (decrease) in cash	246	61
Cash at beginning of year	2,241	1,151
Change in cash of businesses held for sale	3	15
Cash at end of period	$ 2,490	$ 1,227

Supplementary Disclosure of Condensed Consolidated Cash Flow Information (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash paid during the period for:
Interest	$ 840	$ 983
Taxes	165	103
Non-cash investing/financing activities:
Interest credited to policyholder contract deposits included in financing activities	$ 1,052	$ 1,005

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2014
BASIS OF PRESENTATION
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG Common Stock, par value $2.50 per share (AIG Common Stock), is listed on the New York Stock Exchange (NYSE: AIG) and the Tokyo Stock Exchange. Unless the context indicates otherwise, the terms “AIG,” “we,” “us” or “our” mean American International Group, Inc. and its consolidated subsidiaries and the term “AIG Parent” means American International Group, Inc. and not any of its consolidated subsidiaries. These unaudited condensed consolidated financial statements do not include all disclosures that are normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) and should be read in conjunction with the audited consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the year ended December 31, 2013 (2013 Annual Report). The condensed consolidated financial information as of December 31, 2013 included herein has been derived from audited consolidated financial statements in the 2013 Annual Report. Certain of our foreign subsidiaries included in the condensed consolidated financial statements report on different fiscal-period bases. The effect on our condensed consolidated financial condition and results of operations of all material events occurring at these subsidiaries through the date of each of the periods presented in these condensed consolidated financial statements has been recorded. In the opinion of management, these condensed consolidated financial statements contain normal recurring adjustments, including eliminations of material intercompany accounts and transactions, necessary for a fair statement of the results presented herein. Interim period operating results may not be indicative of the operating results for a full year. We evaluated the need to recognize or disclose events that occurred subsequent to March 31, 2014 and prior to the issuance of these condensed consolidated financial statements. Sale of ILFC On December 16, 2013, we entered into a definitive agreement with AerCap Holdings N.V. (AerCap) and AerCap Ireland Limited (Purchaser), a wholly-owned subsidiary of AerCap, for the sale of 100 percent of the common stock of International Lease Finance Corporation (ILFC) (the AerCap Transaction) for consideration consisting of $3.0 billion in cash, a portion of which will be funded by a special dividend of $600 million to be paid by ILFC to AIG upon consummation of the AerCap Transaction, and approximately 97.6 million newly-issued AerCap common shares. The disposition of the AerCap common shares by AIG will be subject to certain restrictions as to the amount and timing of potential sales in accordance with the definitive agreement. ILFC’s results are reflected in Aircraft leasing revenue and Aircraft leasing expenses in the Condensed Consolidated Statements of Income. The assets and liabilities of ILFC are classified as held-for-sale at March 31, 2014 and December 31, 2013 in the Condensed Consolidated Balance Sheets. See Note 4 herein for further discussion. Use of Estimates The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involve a significant degree of judgment. Accounting policies that we believe are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of: classification of ILFC as held-for-sale and related fair value measurement; income tax assets and liabilities, including recoverability of our net deferred tax asset and the predictability of future tax operating profitability of the character necessary to realize the net deferred tax asset; liability for unpaid claims and claims adjustment expense; reinsurance assets; valuation of future policy benefit liabilities and timing and extent of loss recognition; valuation of liabilities for guaranteed benefit features of variable annuity products; estimated gross profits to value deferred acquisition costs for investment-oriented products; impairment charges, including other-than-temporary impairments on available for sale securities, impairments on investments in life settlements and goodwill impairment; liability for legal contingencies; and fair value measurements of certain financial assets and liabilities. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Standards Adopted During 2014 Certain Obligations Resulting from Joint and Several Liability Arrangements In February 2013, the Financial Accounting Standards Board (FASB) issued an accounting standard that requires us to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of (i) the amount we agreed to pay on the basis of our arrangement among our co-obligors and (ii) any additional amount we expect to pay on behalf of our co-obligors. We adopted the standard on its required effective date of January 1, 2014. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of an Investment within a Foreign Entity or of an Investment in a Foreign Entity In March 2013, the FASB issued an accounting standard addressing whether consolidation guidance or foreign currency guidance applies to the release of the cumulative translation adjustment into net income when a parent sells all or a part of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or net assets that are a business (other than a sale of in-substance real estate) within a foreign entity. The standard also resolves the diversity in practice for the cumulative translation adjustment treatment in business combinations achieved in stages involving foreign entities. Under this standard, the entire amount of the cumulative translation adjustment associated with the foreign entity should be released into earnings when there has been: (i) a sale of a subsidiary or group of net assets within a foreign entity and the sale represents a complete or substantially complete liquidation of the foreign entity in which the subsidiary or the net assets had resided; (ii) a loss of a controlling financial interest in an investment in a foreign entity; or (iii) a change in accounting method from applying the equity method to an investment in a foreign entity to consolidating the foreign entity. We adopted the standard on its required effective date of January 1, 2014 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Investment Company Guidance In June 2013, the FASB issued an accounting standard that amends the criteria a company must meet to qualify as an investment company, clarifies the measurement guidance, and requires new disclosures for investment companies. An entity that is regulated by the Securities and Exchange Commission under the Investment Company Act of 1940 (the 1940 Act) qualifies as an investment company. Entities that are not regulated under the 1940 Act must have certain fundamental characteristics and must consider other characteristics to determine whether they qualify as investment companies. An entity’s purpose and design must be considered when making the assessment. An entity that no longer meets the requirements to be an investment company as a result of this standard should present the change in its status as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. An entity that is an investment company should apply the standard prospectively as an adjustment to opening net assets as of the effective date. The adjustment to net assets represents both the difference between the fair value and the carrying amount of the entity’s investments and any amount previously recognized in Accumulated other comprehensive income. We adopted the standard on its required effective date of January 1, 2014 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Presentation of Unrecognized Tax Benefits In July 2013, the FASB issued an accounting standard that requires a liability related to unrecognized tax benefits to be presented as a reduction to the related deferred tax asset for a net operating loss carryforward or a tax credit carryforward. When the carryforwards are not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the applicable jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit will be presented in the financial statements as a liability and will not be combined with the related deferred tax asset. We adopted the standard on its required effective date of January 1, 2014 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Future Application of Accounting Standards Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure In January 2014, the FASB issued an accounting standard that clarifies when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, so that the loan is derecognized and the real estate property is recognized. We plan to adopt the standard on its required effective date of January 1, 2015 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Reporting Discontinued Operations In April 2014, the FASB issued an accounting standard that changes the requirements for presenting a component or group of components of an entity as a discontinued operation and requires new disclosures. Under the standard, the disposal of a component or group of components of an entity should be reported as a discontinued operation if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Disposals of equity method investments, or those reported as held-for-sale, will be eligible for presentation as a discontinued operation if they meet the new definition. The standard also requires entities to provide specified disclosures about a disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation. The standard is effective prospectively for all disposals of components (or classification of components as held-for-sale) of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications of components as held-for-sale) that have not been reported in financial statements previously issued. We plan to adopt the standard on its required effective date of January 1, 2015 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2014

SEGMENT INFORMATION

SEGMENT INFORMATION

3. SEGMENT INFORMATION

We report the results of our operations consistent with the manner in which our chief operating decision makers review the business to assess performance and to allocate resources through two reportable segments: AIG Property Casualty and AIG Life and Retirement. We evaluate performance based on revenues and pre-tax income (loss), excluding results from discontinued operations, because we believe this provides more meaningful information on how our operations are performing.

The following table presents our operations by reportable segment:

	2014					2013
Three Months Ended March 31,			Pre-tax Income (Loss)					Pre-tax Income (Loss)
(in millions)		Total Revenues	from continuing operations			Total Revenues		from continuing operations
AIG Property Casualty
Commercial Insurance	$	5,642	$	713	$	5,773	$	1,041
Consumer Insurance		3,258		27		3,506		153
Other		766		569		689		420
Total AIG Property Casualty		9,666		1,309		9,968		1,614
AIG Life and Retirement
Retail		2,766		665		3,003		996
Institutional		1,585		567		1,737		574
Total AIG Life and Retirement		4,351		1,232		4,740		1,570
Other Operations
Mortgage Guaranty		249		77		231		44
Global Capital Markets		59		29		273		227
Direct Investment book		465		355		411		312
Corporate & Other		382		(824)		461		(1,008)
Aircraft Leasing		1,113		17		1,074		43
Consolidation and elimination		(8)		1		(9)		1
Total Other Operations		2,260		(345)		2,441		(381)
AIG Consolidation and elimination		(165)		77		(187)		72
Total AIG Consolidated	$	16,112	$	2,273	$	16,962	$	2,875

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2014

HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS

HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS

4. HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS

Held-For-Sale Classification

On December 16, 2013, we entered into a definitive agreement with AerCap and Purchaser, a wholly-owned subsidiary of AerCap, for the sale of 100 percent of the common stock of ILFC (the AerCap Transaction) for consideration consisting of $3.0 billion in cash, a portion of which will be funded by a special dividend of $600 million to be paid by ILFC to AIG upon consummation of the transaction, and approximately 97.6 million newly-issued AerCap common shares. The consideration had a value of approximately $5.4 billion based on AerCap’s pre-announcement closing price per share of $24.93 on December 13, 2013. The disposition of the AerCap common shares by AIG will be subject to certain restrictions as to the amount and timing of potential sales in accordance with the definitive agreement. In connection with the AerCap Transaction, we entered into a credit agreement for a senior unsecured revolving credit facility between the Purchaser as borrower and AIG as lender (the Revolving Credit Facility). The Revolving Credit Facility provides for an aggregate commitment of $1 billion and permits loans for general corporate purposes after the closing of the AerCap Transaction. The AerCap Transaction was approved by AerCap shareholders on February 13, 2014 and we expect it to close in the second quarter of 2014. We determined ILFC continued to meet the criteria for held-for-sale accounting at March 31, 2014. Because we expect to hold approximately 46 percent of the common stock of the combined company upon closing of the transaction, ILFC’s results are presented in continuing operations for all periods presented.

The following table summarizes the components of ILFC assets and liabilities held-for-sale:

		March 31,		December 31,
(in millions)		2014		2013
Assets:
Equity securities	$	4	$	3
Mortgage and other loans receivable, net		262		229
Flight equipment primarily under operating leases, net of accumulated depreciation		35,612		35,508
Short-term investments		1,626		658
Cash		84		88
Premiums and other receivables, net of allowance		343		318
Other assets		2,798		2,066
Assets held-for-sale		40,729		38,870
Less: Loss accrual		(9,962)		(9,334)
Total assets held-for-sale	$	30,767	$	29,536
Liabilities:
Other liabilities	$	3,082	$	3,127
Long-term debt		22,733		21,421
Total liabilities held-for-sale	$	25,815	$	24,548

Discontinued Operations

In connection with the 2010 sale of American Life Insurance Company (ALICO) to MetLife, Inc. (MetLife), we recognized the following income (loss) from discontinued operations:

Three Months Ended March 31,
(in millions)		2014		2013
Revenues:
Gain (loss) on sale	$	(1)	$	117
Income from discontinued operations, before income tax expense		(1)		117
Income tax expense		46		44
Income (loss) from discontinued operations, net of income tax expense	$	(47)	$	73

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

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+ Details

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2014

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

5. FAIR VALUE MEASUREMENTS

Fair Value Measurements on a Recurring Basis

Assets and liabilities recorded at fair value in the Condensed Consolidated Balance Sheets are measured and classified in accordance with a fair value hierarchy consisting of three “levels” based on the observability of valuation inputs:

Level 1: Fair value measurements based on quoted prices in active markets that we have the ability to access for identical assets or liabilities. Market price data generally is obtained from exchange or dealer markets. We do not adjust the quoted price for such instruments.
Level 2: Fair value measurements based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals.
Level 3: Fair value measurements based on valuation techniques that use significant inputs that are unobservable. Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3. The circumstances for using these measurements include those in which there is little, if any, market activity for the asset or liability. Therefore, we must make certain assumptions about the inputs a hypothetical market participant would use to value that asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents information about assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value measurement based on the observability of the inputs used:

March 31, 2014							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^*	Collateral			Total
Assets:
Bonds available for sale:
U.S. government and government sponsored entities	$	3	$	2,919	$	-	$	-	$	-	$	2,922
Obligations of states, municipalities and political subdivisions		-		28,547		2,042		-		-		30,589
Non-U.S. governments		629		21,238		17		-		-		21,884
Corporate debt		-		145,176		1,815		-		-		146,991
RMBS		-		21,540		15,764		-		-		37,304
CMBS		-		6,354		5,741		-		-		12,095
CDO/ABS		-		4,542		6,610		-		-		11,152
Total bonds available for sale		632		230,316		31,989		-		-		262,937
Other bond securities:
U.S. government and government sponsored entities		28		5,366		-		-		-		5,394
Obligations of states, municipalities and political subdivisions		-		122		-		-		-		122
Non-U.S. governments		-		2		-		-		-		2
Corporate debt		-		1,108		-		-		-		1,108
RMBS		-		1,282		1,069		-		-		2,351
CMBS		-		508		770		-		-		1,278
CDO/ABS		-		2,965		8,498		-		-		11,463
Total other bond securities		28		11,353		10,337		-		-		21,718
Equity securities available for sale:
Common stock		3,078		1		-		-		-		3,079
Preferred stock		-		28		-		-		-		28
Mutual funds		767		4		-		-		-		771
Total equity securities available for sale		3,845		33		-		-		-		3,878
Other equity securities		653		72		-		-		-		725
Other invested assets		24		2,853		5,990		-		-		8,867
Derivative assets:
Interest rate contracts		12		3,750		35		-		-		3,797
Foreign exchange contracts		-		37		-		-		-		37
Equity contracts		84		34		89		-		-		207
Commodity contracts		-		-		1		-		-		1
Credit contracts		-		-		41		-		-		41
Other contracts		-		-		36		-		-		36
Counterparty netting and cash collateral		-		-		-		(1,680)		(838)		(2,518)
Total derivative assets		96		3,821		202		(1,680)		(838)		1,601
Short-term investments		392		3,361		-		-		-		3,753
Separate account assets		69,216		3,377		-		-		-		72,593
Other assets		-		-		-		-		-		-
Total	$	74,886	$	255,186	$	48,518	$	(1,680)	$	(838)	$	376,072
Liabilities:
Policyholder contract deposits	$	-	$	66	$	765	$	-	$	-	$	831
Derivative liabilities:
Interest rate contracts		-		4,213		133		-		-		4,346
Foreign exchange contracts		-		254		-		-		-		254
Equity contracts		-		92		1		-		-		93
Commodity contracts		-		4		-		-		-		4
Credit contracts		-		-		1,226		-		-		1,226
Other contracts		-		26		145		-		-		171
Counterparty netting and cash collateral		-		-		-		(1,680)		(1,375)		(3,055)
Total derivative liabilities		-		4,589		1,505		(1,680)		(1,375)		3,039
Long-term debt		-		5,616		403		-		-		6,019
Other liabilities		87		451		-		-		-		538
Total	$	87	$	10,722	$	2,673	$	(1,680)	$	(1,375)	$	10,427

December 31, 2013							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^*	Collateral			Total
Assets:
Bonds available for sale:
U.S. government and government sponsored entities	$	133	$	3,062	$	-	$	-	$	-	$	3,195
Obligations of states, municipalities and political subdivisions		-		28,300		1,080		-		-		29,380
Non-U.S. governments		508		21,985		16		-		-		22,509
Corporate debt		-		143,297		1,255		-		-		144,552
RMBS		-		21,207		14,941		-		-		36,148
CMBS		-		5,747		5,735		-		-		11,482
CDO/ABS		-		4,034		6,974		-		-		11,008
Total bonds available for sale		641		227,632		30,001		-		-		258,274
Other bond securities:
U.S. government and government sponsored entities		78		5,645		-		-		-		5,723
Obligations of states, municipalities and political subdivisions		-		121		-		-		-		121
Non-U.S. governments		-		2		-		-		-		2
Corporate debt		-		1,169		-		-		-		1,169
RMBS		-		1,326		937		-		-		2,263
CMBS		-		509		844		-		-		1,353
CDO/ABS		-		3,158		8,834		-		-		11,992
Total other bond securities		78		11,930		10,615		-		-		22,623
Equity securities available for sale:
Common stock		3,218		-		1		-		-		3,219
Preferred stock		-		27		-		-		-		27
Mutual funds		408		2		-		-		-		410
Total equity securities available for sale		3,626		29		1		-		-		3,656
Other equity securities		750		84		-		-		-		834
Other invested assets		1		2,667		5,930		-		-		8,598
Derivative assets:
Interest rate contracts		14		3,716		41		-		-		3,771
Foreign exchange contracts		-		52		-		-		-		52
Equity contracts		151		106		49		-		-		306
Commodity contracts		-		-		1		-		-		1
Credit contracts		-		-		55		-		-		55
Other contracts		-		1		33		-		-		34
Counterparty netting and cash collateral		-		-		-		(1,734)		(820)		(2,554)
Total derivative assets		165		3,875		179		(1,734)		(820)		1,665
Short-term investments		332		5,981		-		-		-		6,313
Separate account assets		67,708		3,351		-		-		-		71,059
Other assets		-		418		-		-		-		418
Total	$	73,301	$	255,967	$	46,726	$	(1,734)	$	(820)	$	373,440
Liabilities:
Policyholder contract deposits	$	-	$	72	$	312	$	-	$	-	$	384
Derivative liabilities:
Interest rate contracts		-		3,661		141		-		-		3,802
Foreign exchange contracts		-		319		-		-		-		319
Equity contracts		-		101		-		-		-		101
Commodity contracts		-		5		-		-		-		5
Credit contracts		-		-		1,335		-		-		1,335
Other contracts		-		25		142		-		-		167
Counterparty netting and cash collateral		-		-		-		(1,734)		(1,484)		(3,218)
Total derivative liabilities		-		4,111		1,618		(1,734)		(1,484)		2,511
Long-term debt		-		6,377		370		-		-		6,747
Other liabilities		42		891		-		-		-		933
Total	$	42	$	11,451	$	2,300	$	(1,734)	$	(1,484)	$	10,575

* Represents netting of derivative exposures covered by a qualifying master netting agreement.

Transfers of Level 1 and Level 2 Assets and Liabilities

Our policy is to record transfers of assets and liabilities between Level 1 and Level 2 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. Assets are transferred out of Level 1 when they are no longer transacted with sufficient frequency and volume in an active market. Conversely, assets are transferred from Level 2 to Level 1 when transaction volume and frequency are indicative of an active market. During the three month periods ended March 31, 2014 and 2013, we transferred $62 million and $239 million of securities issued by Non-U.S. government entities from Level 1 to Level 2, respectively, as they are no longer considered actively traded. For similar reasons, during the three month periods ended March 31, 2014 and 2013, we transferred $103 million and $93 million, respectively, of securities issued by the U.S. government and U.S. government-sponsored entities from Level 1 to Level 2. We had no material transfers from Level 2 to Level 1 during the three month periods ended March 31, 2014 and 2013.

Changes in Level 3 Recurring Fair Value Measurements

The following tables present changes during the three-month periods ended March 31, 2014 and 2013 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realized and unrealized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at March 31, 2014 and 2013:

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period^(a)		in Income		Income (Loss)		Settlements, Net		in		out		of Period		at End of Period
Three Months Ended March 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions^(b)	$	1,080	$	-	$	117	$	846	$	-	$	(1)	$	2,042	$	-
Non-U.S. governments		16		-		(1)		2		-		-		17		-
Corporate debt		1,255		(3)		20		4		648		(109)		1,815		-
RMBS		14,941		244		133		557		-		(111)		15,764		-
CMBS		5,735		6		111		(50)		-		(61)		5,741		-
CDO/ABS		6,974		34		2		8		66		(474)		6,610		-
Total bonds available for sale		30,001		281		382		1,367		714		(756)		31,989		-
Other bond securities:
RMBS		937		28		-		104		-		-		1,069		16
CMBS		844		17		-		(91)		-		-		770		14
CDO/ABS		8,834		335		-		(451)		-		(220)		8,498		166
Total other bond securities		10,615		380		-		(438)		-		(220)		10,337		196
Equity securities available for sale:
Common stock		1		-		-		-		-		(1)		-		-
Preferred stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		1		-		-		-		-		(1)		-		-
Other invested assets		5,930		79		54		49		85		(207)		5,990		-
Total	$	46,547	$	740	$	436	$	978	$	799	$	(1,184)	$	48,316	$	196
Liabilities:
Policyholder contract deposits	$	(312)	$	(474)	$	(8)	$	29	$	-	$	-	$	(765)	$	(82)
Derivative liabilities, net:												-
Interest rate contracts		(100)		(6)		-		8		-		-		(98)		(1)
Equity contracts		49		(3)		-		(5)		47		-		88		(6)
Commodity contracts		1		-		-		-		-		-		1		-
Credit contracts		(1,280)		80		-		15		-		-		(1,185)		94
Other contracts		(109)		16		(1)		(15)		-		-		(109)		12
Total derivative liabilities, net		(1,439)		87		(1)		3		47		-		(1,303)		99
Long-term debt^(c)		(370)		(3)		-		19		(70)		21		(403)		7
Total	$	(2,121)	$	(390)	$	(9)	$	51	$	(23)	$	21	$	(2,471)	$	24
				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period^(a)		in Income		Income (Loss)		Settlements, Net		in		out		of Period		at End of Period
Three Months Ended March 31, 2013
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	1,024	$	1	$	(5)	$	136	$	-	$	(137)	$	1,019	$	-
Non-U.S. governments		14		1		-		2		1		-		18		-
Corporate debt		1,487		(4)		6		22		77		(139)		1,449		-
RMBS		11,662		205		481		(262)		10		-		12,096		-
CMBS		5,124		11		141		(75)		154		(40)		5,315		-
CDO/ABS		4,841		24		76		639		180		(183)		5,577		-
Total bonds available for sale		24,152		238		699		462		422		(499)		25,474		-
Other bond securities:
RMBS		396		22		-		74		238		-		730		(17)
CMBS		812		12		-		(99)		159		(108)		776		(25)
CDO/ABS		8,536		284		-		(436)		486		(28)		8,842		82
Total other bond securities		9,744		318		-		(461)		883		(136)		10,348		40
Equity securities available for sale:
Common stock		24		9		(1)		(10)		-		-		22		-
Preferred stock		44		-		5		-		-		-		49		-
Total equity securities available for sale		68		9		4		(10)		-		-		71		-
Other invested assets		5,389		61		(13)		(3)		127		(94)		5,467		-
Total	$	39,353	$	626	$	690	$	(12)	$	1,432	$	(729)	$	41,360	$	40
Liabilities:
Policyholder contract deposits	$	(1,257)	$	205	$	-	$	5	$	-	$	-	$	(1,047)	$	28
Derivative liabilities, net:
Interest rate contracts		732		11		-		13		-		-		756		3
Equity contracts		47		28		-		(7)		(2)		-		66		12
Commodity contracts		1		1		-		(1)		-		-		1		-
Credit contracts		(1,991)		175		-		41		-		-		(1,775)		214
Other contracts		(162)		7		-		16		-		-		(139)		(12)
Total derivative liabilities, net		(1,373)		222		-		62		(2)		-		(1,091)		217
Long-term debt^(c)		(344)		(80)		-		19		(2)		-		(407)		(8)
Total	$	(2,974)	$	347	$	-	$	86	$	(4)	$	-	$	(2,545)	$	237

(a) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only.

(b) Purchases, Sales, Issues and Settlements, Net primarily reflect the effect of consolidating previously unconsolidated securitization vehicles.

Net realized and unrealized gains and losses related to Level 3 items shown above are reported in the Condensed Consolidated Statements of Income as follows:

		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	Gains (Losses)			Income		Total
Three Months Ended March 31, 2014
Bonds available for sale	$	304	$	(36)	$	13	$	281
Other bond securities		51		1		328		380
Equity securities available for sale		-		-		-		-
Other invested assets		77		(4)		6		79
Policyholder contract deposits		-		(474)		-		(474)
Derivative liabilities, net		15		(3)		75		87
Long-term debt		-		-		(3)		(3)
Three Months Ended March 31, 2013
Bonds available for sale	$	210	$	7	$	21	$	238
Other bond securities		33		-		285		318
Equity securities available for sale		-		9		-		9
Other invested assets		47		(7)		21		61
Policyholder contract deposits		-		205		-		205
Derivative liabilities, net		-		22		200		222
Long-term debt		-		-		(80)		(80)

The following tables present the gross components of purchases, sales, issues and settlements, net, shown above, for the three months ended March 31, 2014 and 2013 related to Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets:

								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Three Months Ended March 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions^(b)	$	888	$	(5)	$	(37)	$	846
Non-U.S. governments		2		-		-		2
Corporate debt		56		(7)		(45)		4
RMBS		1,087		(15)		(515)		557
CMBS		65		(57)		(58)		(50)
CDO/ABS		330		-		(322)		8
Total bonds available for sale		2,428		(84)		(977)		1,367
Other bond securities:
RMBS		141		(5)		(32)		104
CMBS		-		(6)		(85)		(91)
CDO/ABS		21		(7)		(465)		(451)
Total other bond securities		162		(18)		(582)		(438)
Equity securities available for sale		-		-		-		-
Other invested assets		296		-		(247)		49
Total assets	$	2,886	$	(102)	$	(1,806)	$	978
Liabilities:
Policyholder contract deposits	$	-	$	(12)	$	41	$	29
Derivative liabilities, net		1		-		2		3
Long-term debt^(c)		-		-		19		19
Total liabilities	$	1	$	(12)	$	62	$	51
Three Months Ended March 31, 2013
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	158	$	(22)	$	-	$	136
Non-U.S. governments		3		-		(1)		2
Corporate debt		97		-		(75)		22
RMBS		603		(231)		(634)		(262)
CMBS		373		(146)		(302)		(75)
CDO/ABS		798		(159)		-		639
Total bonds available for sale		2,032		(558)		(1,012)		462
Other bond securities:
Corporate debt		-		-		-		-
RMBS		105		-		(31)		74
CMBS		19		(58)		(60)		(99)
CDO/ABS		188		-		(624)		(436)
Total other bond securities		312		(58)		(715)		(461)
Equity securities available for sale		1		(10)		(1)		(10)
Other invested assets		243		(30)		(216)		(3)
Total assets	$	2,588	$	(656)	$	(1,944)	$	(12)
Liabilities:
Policyholder contract deposits	$	-	$	(6)	$	11	$	5
Derivative liabilities, net		3		(4)		63		62
Long-term debt^(c)		-		-		19		19
Total liabilities	$	3	$	(10)	$	93	$	86

(a) There were no issuances during the three month periods ended March 31, 2014 and 2013.

(b) Purchases primarily reflect the effect of consolidating previously unconsolidated securitization vehicles.

Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3 in the tables above. As a result, the unrealized gains (losses) on instruments held at March 31, 2014 and 2013 may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable inputs (e.g., changes in unobservable long-dated volatilities).

Transfers of Level 3 Assets and Liabilities

We record transfers of assets and liabilities into or out of Level 3 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. As a result, the Net realized and unrealized gains (losses) included in income or other comprehensive income as shown in the table above excludes $23 million of net gains and $72 million of net losses related to assets and liabilities transferred into Level 3 during the three month periods ended March 31, 2014 and 2013, respectively, and includes $23 million and $2 million of net gains related to assets and liabilities transferred out of Level 3 during the three month periods ended March 31, 2014 and 2013, respectively.

Transfers of Level 3 Assets

During the three month periods ended March 31, 2014 and 2013, transfers into Level 3 assets primarily included certain investments in private placement corporate debt, RMBS, CMBS, CDO/ABS, and investments in hedge funds. Transfers of investments in private placement corporate debt and certain ABS into Level 3 assets were primarily the result of limited market pricing information that required us to determine fair value for these securities based on inputs that are adjusted to better reflect our own assumptions regarding the characteristics of a specific security or associated market liquidity. The transfers of investments in RMBS, CMBS and CDO and certain ABS into Level 3 assets were due to decreases in market transparency and liquidity for individual security types. Certain investments in hedge funds were transferred into Level 3 due to these investments being carried at fair value and no longer being accounted for using the equity method of accounting, or as a result of limited market activity due to fund-imposed redemption restrictions.

During the three month periods ended March 31, 2014 and 2013, transfers out of Level 3 assets primarily related to certain investments in municipal securities, private placement and other corporate debt, RMBS, CMBS, CDO/ABS, and investments in hedge funds. Transfers of certain investments in municipal securities, corporate debt, RMBS, CMBS, and CDO/ABS out of Level 3 assets were based on consideration of market liquidity as well as related transparency of pricing and associated observable inputs for these investments. Transfers of certain investments in private placement corporate debt out of Level 3 assets were primarily the result of using observable pricing information that reflects the fair value of those securities without the need for adjustment based on our own assumptions regarding the characteristics of a specific security or the current liquidity in the market. The transfers of certain hedge fund investments out of Level 3 assets were primarily the result of easing of certain fund-imposed redemption restrictions.

Transfers of Level 3 Liabilities

There were no significant transfers of derivative or other liabilities into or out of Level 3 for the three month periods ended March 31, 2014 and 2013.

Quantitative Information About Level 3 Fair Value Measurements

The table below presents information about the significant unobservable inputs used for recurring fair value measurements for certain Level 3 instruments, and includes only those instruments for which information about the inputs is reasonably available to us, such as data from third-party valuation service providers and from internal valuation models. Because input information from third-parties with respect to certain Level 3 instruments (primarily CDO/ABS) may not be reasonably available to us, balances shown below may not equal total amounts reported for such Level 3 assets and liabilities:

	Fair Value at
	March 31,		Valuation		Range
(in millions)	2014		Technique	Unobservable Input	(Weighted Average )
Assets:

Obligations of states,	$	1,138	Discounted cash flow	Yield^(b)	4.44% - 5.30% (4.87%)
municipalities and
political subdivisions

Corporate debt		1,166	Discounted cash flow	Yield^(b)	2.87% - 8.28% (5.57%)


RMBS		16,252	Discounted cash flow	Constant prepayment rate^(a)(c)	0.00% - 10.13% (5.05%)
				Loss severity^(a)(c)	43.85% - 79.75% (61.80%)
				Constant default rate^(a)(c)	3.98% - 11.79% (7.89%)
				Yield^(c)	2.59% - 6.85% (4.72%)

Certain CDO/ABS		5,411	Discounted cash flow	Constant prepayment rate^(a)(c)	5.30% - 13.30% (9.50%)
				Loss severity^(a)(c)	46.40% - 61.30% (53.90%)
				Constant default rate^(a)(c)	2.90% - 15.60% (8.40%)
				Yield^(c)	5.00% - 10.80% (8.90%)

CMBS		6,017	Discounted cash flow	Yield^(b)	0.00% - 13.70% (5.09%)

CDO/ABS - Direct			Binomial Expansion	Recovery rate^(b)	5.00% - 61.00% (25.00%)
Investment book		565	Technique (BET)	Diversity score^(b)	6 - 29 (13.1)
				Weighted average life^(b)	1.30 - 10.50 years (5.30 years)
Liabilities:

Policyholder contract
deposits		765	Discounted cash flow	Equity implied volatility^(b)	6.00% - 39.00%
				Base lapse rate^(b)	1.00% - 40.00%
				Dynamic lapse rate^(b)	0.20% - 60.00%
				Mortality rate^(b)	0.50% - 40.00%
				Utilization rate^(b)	0.50% - 25.00%

Total derivative
liabilities, net		909	BET	Recovery rate^(b)	5.00% - 34.00% (17.00%)
				Diversity score^(b)	9 - 33 (14)
				Weighted average life^(b)	4.12 - 10.53 years (5.82 years)


		Fair Value at
		December 31,	Valuation		Range
(in millions)		2013	Technique	Unobservable Input	(Weighted Average )
Assets:

Obligations of states,	$	920	Discounted cash flow	Yield^(b)	4.94% - 5.86% (5.40%)
municipalities and
political subdivisions

Corporate debt		788	Discounted cash flow	Yield^(b)	0.00% - 14.29% (6.64%)


RMBS		14,419	Discounted cash flow	Constant prepayment rate^(a)(c)	0.00% - 10.35% (4.97%)
				Loss severity^(a)(c)	42.60% - 79.07% (60.84%)
				Constant default rate^(a)(c)	3.98% - 12.22% (8.10%)
				Yield^(c)	2.54% - 7.40% (4.97%)

Certain CDO/ABS		5,414	Discounted cash flow	Constant prepayment rate^(a)(c)	5.20% - 10.80% (8.20%)
				Loss severity^(a)(c)	48.60% - 63.40% (56.40%)
				Constant default rate^(a)(c)	3.20% - 16.20% (9.00%)
				Yield^(c)	5.20% - 11.50% (9.40%)

CMBS		5,847	Discounted cash flow	Yield^(b)	0.00% - 14.69% (5.58%)

CDO/ABS - Direct			Binomial Expansion	Recovery rate^(b)	6.00% - 63.00% (25.00%)
Investment book		557	Technique (BET)	Diversity score^(b)	5 - 35 (12)
				Weighted average life^(b)	1.07 - 9.47 years (4.86 years)
Liabilities:

Policyholder contract
deposits		312	Discounted cash flow	Equity implied volatility^(b)	6.00% - 39.00%
				Base lapse rate^(b)	1.00% - 40.00%
				Dynamic lapse rate^(b)	0.20% - 60.00%
				Mortality rate^(b)	0.50% - 40.00%
				Utilization rate^(b)	0.50% - 25.00%

Total derivative
liabilities, net		996	BET	Recovery rate^(b)	5.00% - 34.00% (17.00%)
				Diversity score^(b)	9 - 32 (13)
				Weighted average life^(b)	4.50 - 9.47 years (5.63 years)

(a) The unobservable inputs and ranges for the constant prepayment rate, loss severity and constant default rate relate to each of the individual underlying mortgage loans that comprise the entire portfolio of securities in the RMBS and CDO securitization vehicles and not necessarily to the securitization vehicle bonds (tranches) purchased by us. The ranges of these inputs do not directly correlate to changes in the fair values of the tranches purchased by us because there are other factors relevant to the fair values of specific tranches owned by us including, but not limited to, purchase price, position in the waterfall, senior versus subordinated position and attachment points.

(b) Represents discount rates, estimates and assumptions that we believe would be used by market participants when valuing these assets and liabilities.

The ranges of reported inputs for Corporate debt, RMBS, CDO/ABS, and CMBS valued using a discounted cash flow technique consist of plus/minus one standard deviation in either direction from the value-weighted average. The preceding table does not give effect to our risk management practices that might offset risks inherent in these investments.

Sensitivity to Changes in Unobservable Inputs

We consider unobservable inputs to be those for which market data is not available and that are developed using the best information available to us about the assumptions that market participants would use when pricing the asset or liability. Relevant inputs vary depending on the nature of the instrument being measured at fair value. The following is a general description of sensitivities of significant unobservable inputs along with interrelationships between and among the significant unobservable inputs and their impact on the fair value measurements. The effect of a change in a particular assumption in the sensitivity analysis below is considered independently of changes in any other assumptions. In practice, simultaneous changes in assumptions may not always have a linear effect on the inputs discussed below. Interrelationships may also exist between observable and unobservable inputs. Such relationships have not been included in the discussion below. For each of the individual relationships described below, the inverse relationship would also generally apply.

Obligations of States, Municipalities and Political Subdivisions

The significant unobservable input used in fair value measurement of certain investments in obligations of states, municipalities and political subdivisions is yield. In general, increases in the yield would decrease the fair value of investments in obligations of states, municipalities and political subdivisions.

Corporate Debt

Corporate debt securities included in Level 3 are primarily private placement issuances that are not traded in active markets or that are subject to transfer restrictions. Fair value measurements consider illiquidity and non-transferability. When observable price quotations are not available, fair value is determined based on discounted cash flow models using discount rates based on credit spreads, yields or price levels of publicly-traded debt of the issuer or other comparable securities, considering illiquidity and structure. The significant unobservable input used in the fair value measurement of corporate debt is the yield. The yield is affected by the market movements in credit spreads and U.S. Treasury yields. In addition, the migration in credit quality of a given security generally has a corresponding effect on the fair value measurement of the security. For example, a downward migration of credit quality would increase spreads. Holding U.S. Treasury rates constant, an increase in corporate credit spreads would decrease the fair value of corporate debt.

RMBS and Certain CDO/ABS

The significant unobservable inputs used in fair value measurements of RMBS and certain CDO/ABS valued by third-party valuation service providers are constant prepayment rates (CPR), loss severity, constant default rates (CDR), and yield. A change in the assumptions used for the probability of default will generally be accompanied by a corresponding change in the assumption used for the loss severity and an inverse change in the assumption used for prepayment rates. In general, increases in CPR, loss severity, CDR, and yield, in isolation, would result in a decrease in the fair value measurement. Changes in fair value based on variations in assumptions generally cannot be extrapolated because the relationship between the directional change of each input is not usually linear.

CMBS

The significant unobservable input used in fair value measurements for CMBS is the yield. Prepayment assumptions for each mortgage pool are factored into the yield. CMBS generally feature a lower degree of prepayment risk than RMBS because commercial mortgages generally contain a penalty for prepayment. In general, increases in the yield would decrease the fair value of CMBS.

CDO/ABS – Direct Investment book

The significant unobservable inputs used for certain CDO/ABS securities valued using the BET are recovery rates, diversity score, and the weighted average life of the portfolio. An increase in recovery rates and diversity score will increase the fair value of the portfolio. An increase in the weighted average life will decrease the fair value.

Policyholder contract deposits

Embedded derivatives within Policyholder contract deposits relate to guaranteed minimum withdrawal benefits (GMWB) within variable annuity products and certain enhancements to interest crediting rates based on market indices within equity-indexed annuities and guaranteed investment contracts (GICs). GMWB represents our largest exposure of these embedded derivatives, although the carrying value of the liability fluctuates based on the performance of the equity markets and therefore, at a point in time, can be low relative to the exposure. The principal unobservable input used for GMWBs and embedded derivatives in equity-indexed annuities measured at fair value is equity implied volatility. For GMWBs, other significant unobservable inputs include base and dynamic lapse rates, mortality rates, and utilization rates. Lapse, mortality, and utilization rates may vary significantly depending upon age groups and duration. In general, increases in volatility and utilization rates will increase the fair value of the liability associated with GMWB, while increases in lapse rates and mortality rates will decrease the fair value of the liability. Significant unobservable inputs used in valuing embedded derivatives within GICs include long-term forward interest rates and foreign exchange rates. Generally, the embedded derivative liability for GICs will increase as interest rates decrease or if the U.S. dollar weakens compared to the euro.

Total derivative liabilities, net

The significant unobservable inputs used for derivative liabilities valued using the BET, which include certain credit contracts, are recovery rates, diversity scores, and the weighted average life of the portfolio. AIG non-performance risk is also considered in the measurement of the liability.

An increase in recovery rates and diversity score will decrease the fair value of the liability. An increase in the weighted average life will increase the fair value measurement of the liability.

Investments in Certain Entities Carried at Fair Value Using Net Asset Value Per Share

The following table includes information related to our investments in certain other invested assets, including private equity funds, hedge funds and other alternative investments that calculate net asset value per share (or its equivalent). For these investments, which are measured at fair value on a recurring basis, we use the net asset value per share as a practical expedient to measure fair value.

		March 31, 2014				December 31, 2013
			Fair Value Using Net Asset Value Per Share (or its equivalent)				Fair Value Using Net Asset Value Per Share (or its equivalent)

					Unfunded				Unfunded
(in millions)	Investment Category Includes				Commitments				Commitments
Investment Category
Private equity funds:
Leveraged buyout	Debt and/or equity investments made as part of a transaction in which assets of mature companies are acquired from the current shareholders, typically with the use of financial leverage	$	2,511	$	548	$	2,544	$	578

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		424		275		346		86

Venture capital	Early-stage, high-potential, growth companies expected to generate a return through an eventual realization event, such as an initial public offering or sale of the company		133		11		140		13

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		179		33		183		34

Other	Includes multi-strategy and mezzanine strategies		161		225		134		238
Total private equity funds			3,408		1,092		3,347		949
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		1,197		2		976		2

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		2,026		8		1,759		11

Macro	Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions		438		-		612		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		623		14		594		15

Emerging markets	Investments in the financial markets of developing countries		292		-		287		-

Other	Includes multi-strategy and relative value strategies		172		-		157		-
Total hedge funds			4,748		24		4,385		28
Total		$	8,156	$	1,116	$	7,732	$	977

Private equity fund investments included above are not redeemable, as distributions from the funds will be received when underlying investments of the funds are liquidated. Private equity funds are generally expected to have 10-year lives at their inception, but these lives may be extended at the fund manager’s discretion, typically in one or two-year increments. At March 31, 2014, assuming average original expected lives of 10 years for the funds, 79 percent of the total fair value using net asset value per share (or its equivalent) presented above would have expected remaining lives of three years or less, 16 percent between four and six years and 5 percent between seven and 10 years.

The hedge fund investments included above are generally redeemable monthly (12 percent), quarterly (47 percent), semi-annually (17 percent) and annually (24 percent), with redemption notices ranging from one day to 180 days. At March 31, 2014, however, investments representing approximately 58 percent of the total fair value of the hedge fund investments cannot be redeemed, either in whole or in part, because the investments include various contractual restrictions. The majority of these contractual restrictions, which may have been put in place at the fund’s inception or thereafter, have pre-defined end dates and are generally expected to be lifted by the end of 2015. The fund investments for which redemption is restricted only in part generally relate to certain hedge funds that hold at least one investment that the fund manager deems to be illiquid.

Fair Value Option

The following table presents the gains and losses recorded related to the eligible instruments for which we elected the fair value option:

Three Months Ended March 31,	Gain (Loss)
(in millions)		2014		2013
Assets:
Mortgage and other loans receivable	$	-	$	1
Bond and equity securities		666		376
Alternative investments^(a)		154		84
Other, including Short-term investments		3		3
Liabilities:
Long-term debt^(b)		(74)		9
Other liabilities		(4)		(4)
Total gain	$	745	$	469

(a) Includes hedge funds, private equity funds and other investment partnerships.

(b) Includes GIAs, notes, bonds, loans and mortgages payable.

We recognized losses of $11 million and $34 million during the three month periods ended March 31, 2014 and 2013, respectively, attributable to the observable effect of changes in credit spreads on our own liabilities for which the fair value option was elected. We calculate the effect of these credit spread changes using discounted cash flow techniques that incorporate current market interest rates, our observable credit spreads on these liabilities and other factors that mitigate the risk of nonperformance such as cash collateral posted.

The following table presents the difference between fair values and the aggregate contractual principal amounts of long-term debt for which the fair value option was elected:

	March 31, 2014						December 31, 2013
			Outstanding						Outstanding
(in millions)	Fair Value		Principal Amount		Difference		Fair Value		Principal Amount		Difference
Liabilities:
Long-term debt^*	$	6,019	$	4,656	$	1,363	$	6,747	$	5,231	$	1,516

* Includes GIAs, notes, bonds, loans and mortgages payable.

Fair Value Measurements on a Non-Recurring Basis

The following table presents assets measured at fair value on a non-recurring basis at the time of impairment and the related impairment charges recorded during the periods presented:

		Assets at Fair Value							Impairment Charges
		Non-Recurring Basis							Three Months Ended March 31,
(in millions)		Level 1		Level 2		Level 3		Total		2014		2013
March 31, 2014
Other investments	$	-	$	-	$	1,510	$	1,510	$	35	$	36
Investments in life settlements		-		-		270		270		42		43
Other assets		-		-		1		1		1		31
Total	$	-	$	-	$	1,781	$	1,781	$	78	$	110
December 31, 2013
Other investments	$	-	$	-	$	1,615	$	1,615
Investments in life settlements		-		-		896		896
Other assets		-		11		48		59
Total	$	-	$	11	$	2,559	$	2,570

Fair Value Information About Financial Instruments Not Measured at Fair Value

The following table presents the carrying value and estimated fair value of our financial instruments not measured at fair value and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used:

	Estimated Fair Value									Carrying
(in millions)		Level 1		Level 2		Level 3		Total		Value
March 31, 2014
Assets:
Mortgage and other loans receivable	$	-	$	171	$	22,329	$	22,500	$	21,569
Other invested assets		-		573		2,727		3,300		4,245
Short-term investments		-		13,905		-		13,905		13,905
Cash		2,490		-		-		2,490		2,490
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		198		115,467		115,665		105,229
Other liabilities		-		3,418		-		3,418		3,418
Long-term debt		-		34,510		3,182		37,692		33,489
December 31, 2013
Assets:
Mortgage and other loans receivable	$	-	$	219	$	21,418	$	21,637	$	20,765
Other invested assets		-		529		2,705		3,234		4,194
Short-term investments		-		15,304		-		15,304		15,304
Cash		2,241		-		-		2,241		2,241
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		199		114,361		114,560		105,093
Other liabilities		-		4,869		1		4,870		4,869
Long-term debt		-		36,239		2,394		38,633		34,946

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References+ Details

INVESTMENTS

3 Months Ended

Mar. 31, 2014

INVESTMENTS

INVESTMENTS

6. INVESTMENTS

Securities Available for Sale

The following table presents the amortized cost or cost and fair value of our available for sale securities:

										Other-Than-
		Amortized		Gross		Gross				Temporary
		Cost or		Unrealized		Unrealized		Fair		Impairments
(in millions)		Cost		Gains		Losses		Value		in AOCI^(a)
March 31, 2014
Bonds available for sale:
U.S. government and government sponsored entities	$	2,779	$	170	$	(27)	$	2,922	$	-
Obligations of states, municipalities and political subdivisions		29,402		1,384		(197)		30,589		(15)
Non-U.S. governments		21,317		826		(259)		21,884		-
Corporate debt		139,063		9,505		(1,577)		146,991		81
Mortgage-backed, asset-backed and collateralized:
RMBS		34,340		3,354		(390)		37,304		1,779
CMBS		11,661		637		(203)		12,095		168
CDO/ABS		10,638		649		(135)		11,152		40
Total mortgage-backed, asset-backed and collateralized		56,639		4,640		(728)		60,551		1,987
Total bonds available for sale^(b)		249,200		16,525		(2,788)		262,937		2,053
Equity securities available for sale:
Common stock		1,287		1,806		(14)		3,079		-
Preferred stock		25		4		(1)		28		-
Mutual funds		764		22		(15)		771		-
Total equity securities available for sale		2,076		1,832		(30)		3,878		-
Total	$	251,276	$	18,357	$	(2,818)	$	266,815	$	2,053
December 31, 2013
Bonds available for sale:
U.S. government and government sponsored entities	$	3,084	$	150	$	(39)	$	3,195	$	-
Obligations of states, municipalities and political subdivisions		28,704		1,122		(446)		29,380		(15)
Non-U.S. governments		22,045		822		(358)		22,509		-
Corporate debt		139,461		7,989		(2,898)		144,552		74
Mortgage-backed, asset-backed and collateralized:
RMBS		33,520		3,101		(473)		36,148		1,670
CMBS		11,216		558		(292)		11,482		125
CDO/ABS		10,501		649		(142)		11,008		62
Total mortgage-backed, asset-backed and collateralized		55,237		4,308		(907)		58,638		1,857
Total bonds available for sale^(b)		248,531		14,391		(4,648)		258,274		1,916
Equity securities available for sale:
Common stock		1,280		1,953		(14)		3,219		-
Preferred stock		24		4		(1)		27		-
Mutual funds		422		12		(24)		410		-
Total equity securities available for sale		1,726		1,969		(39)		3,656		-
Total	$	250,257	$	16,360	$	(4,687)	$	261,930	$	1,916

(a) Represents the amount of other-than-temporary impairments recognized in Accumulated other comprehensive income. Amount includes unrealized gains and losses on impaired securities relating to changes in the value of such securities subsequent to the impairment measurement date.

(b) At March 31, 2014 and December 31, 2013, bonds available for sale held by us that were below investment grade or not rated totaled $34.1 billion and $32.6 billion, respectively.

Securities Available for Sale in a Loss Position

The following table summarizes the fair value and gross unrealized losses on our available for sale securities, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position:

	Less than 12 Months				12 Months or More				Total
				Gross				Gross				Gross
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in millions)		Value		Losses		Value		Losses		Value		Losses
March 31, 2014
Bonds available for sale:
U.S. government and government sponsored entities	$	683	$	21	$	75	$	6	$	758	$	27
Obligations of states, municipalities and political
subdivisions		3,806		131		562		66		4,368		197
Non-U.S. governments		4,049		144		796		115		4,845		259
Corporate debt		25,341		938		6,649		639		31,990		1,577
RMBS		8,100		283		1,391		107		9,491		390
CMBS		2,447		115		1,115		88		3,562		203
CDO/ABS		2,426		56		1,096		79		3,522		135
Total bonds available for sale		46,852		1,688		11,684		1,100		58,536		2,788
Equity securities available for sale:
Common stock		102		14		-		-		102		14
Preferred stock		4		1		-		-		4		1
Mutual funds		317		15		-		-		317		15
Total equity securities available for sale		423		30		-		-		423		30
Total	$	47,275	$	1,718	$	11,684	$	1,100	$	58,959	$	2,818
December 31, 2013
Bonds available for sale:
U.S. government and government sponsored entities	$	1,101	$	34	$	42	$	5	$	1,143	$	39
Obligations of states, municipalities and political
subdivisions		6,134		379		376		67		6,510		446
Non-U.S. governments		4,102		217		710		141		4,812		358
Corporate debt		38,495		2,251		4,926		647		43,421		2,898
RMBS		8,543		349		1,217		124		9,760		473
CMBS		3,191		176		1,215		116		4,406		292
CDO/ABS		2,845		62		915		80		3,760		142
Total bonds available for sale		64,411		3,468		9,401		1,180		73,812		4,648
Equity securities available for sale:
Common stock		96		14		-		-		96		14
Preferred stock		5		1		-		-		5		1
Mutual funds		369		24		-		-		369		24
Total equity securities available for sale		470		39		-		-		470		39
Total	$	64,881	$	3,507	$	9,401	$	1,180	$	74,282	$	4,687

At March 31, 2014, we held 6,426 and 126 individual fixed maturity and equity securities, respectively, that were in an unrealized loss position, of which 1,008 individual fixed maturity securities were in a continuous unrealized loss position for longer than 12 months. We did not recognize the unrealized losses in earnings on these fixed maturity securities at March 31, 2014 because we neither intend to sell the securities nor do we believe that it is more likely than not that we will be required to sell these securities before recovery of their amortized cost basis. For fixed maturity securities with significant declines, we performed fundamental credit analyses on a security-by-security basis, which included consideration of credit enhancements, expected defaults on underlying collateral, review of relevant industry analyst reports and forecasts and other available market data.

Contractual Maturities of Fixed Maturity Securities Available for Sale

The following table presents the amortized cost and fair value of fixed maturity securities available for sale by contractual maturity:

	Total Fixed Maturity Securities				Fixed Maturity Securities in a Loss
March 31, 2014	Available for Sale				Position Available for Sale
(in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	10,275	$	10,455	$	830	$	817
Due after one year through five years		50,565		53,380		6,918		6,799
Due after five years through ten years		68,663		71,911		15,703		15,099
Due after ten years		63,058		66,640		20,570		19,246
Mortgage-backed, asset-backed and collateralized		56,639		60,551		17,303		16,575
Total	$	249,200	$	262,937	$	61,324	$	58,536

Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations with or without call or prepayment penalties.

The following table presents the gross realized gains and gross realized losses from sales or maturities of our available for sale securities:

		2014				2013
		Gross		Gross		Gross		Gross
Three Months Ended March 31,	Realized		Realized		Realized		Realized
(in millions)		Gains		Losses		Gains		Losses
Fixed maturity securities	$	216	$	31	$	371	$	71
Equity securities		30		2		37		3
Total	$	246	$	33	$	408	$	74

For the first quarters of 2014 and 2013, the aggregate fair value of available for sale securities sold was $6.1 billion and $7.0 billion, respectively, which resulted in net realized capital gains of $0.2 billion and $0.3 billion, respectively.

Other Securities Measured at Fair Value

The following table presents the fair value of other securities measured at fair value based on our election of the fair value option:

		March 31, 2014				December 31, 2013
		Fair	Percent			Fair	Percent
(in millions)		Value	of Total			Value	of Total
Fixed maturity securities:
U.S. government and government sponsored entities	$	5,394	24	%	$	5,723	24	%
Obligations of states, municipalities and political subdivisions		122	1			121	1
Non-U.S. governments		2	-			2	-
Corporate debt		1,108	5			1,169	5
Mortgage-backed, asset-backed and collateralized:
RMBS		2,351	10			2,263	10
CMBS		1,278	6			1,353	6
CDO/ABS and other collateralized^*		11,456	51			11,985	51
Total mortgage-backed, asset-backed and collateralized		15,085	67			15,601	67
Other		7	-			7	-
Total fixed maturity securities		21,718	97			22,623	97
Equity securities		725	3			834	3
Total	$	22,443	100	%	$	23,457	100	%

* Includes $1.0 billion of U.S. Government agency backed ABS at both March 31, 2014 and December 31, 2013.

Net Investment Income

The following table presents the components of Net investment income:

Three Months Ended March 31,
(in millions)		2014		2013
Fixed maturity securities, including short-term investments	$	3,131	$	3,045
Equity securities		(85)		37
Interest on mortgage and other loans		318		280
Alternative investments^*		925		866
Real estate		28		31
Other investments		11		53
Total investment income		4,328		4,312
Investment expenses		132		148
Net investment income	$	4,196	$	4,164

* Includes hedge funds, private equity funds, affordable housing partnerships, investments in life settlements and other investment partnerships.

Net Realized Capital Gains and Losses

The following table presents the components of Net realized capital gains (losses):

Three Months Ended March 31,
(in millions)		2014		2013
Sales of fixed maturity securities	$	185	$	300
Sales of equity securities		28		34
Other-than-temporary impairments:
Severity		-		(2)
Change in intent		(5)		(3)
Foreign currency declines		(4)		-
Issuer-specific credit events		(68)		(63)
Adverse projected cash flows		(1)		(6)
Provision for loan losses		5		(3)
Foreign exchange transactions		26		329
Derivative instruments		(350)		(271)
Impairments on investments in life settlements		(42)		(43)
Other		13		28
Net realized capital gains (losses)	$	(213)	$	300

Change in Unrealized Appreciation (Depreciation) of Investments

The following table presents the increase (decrease) in unrealized appreciation (depreciation) of our available for sale securities and other investments:

Three Months Ended March 31,
(in millions)		2014		2013
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	3,994	$	(1,152)
Equity securities		(128)		7
Other investments		73		(48)
Total increase (decrease) in unrealized appreciation (depreciation) of investments^*	$	3,939	$	(1,193)

* Excludes net unrealized gains attributable to businesses held for sale.

Evaluating Investments for Other-Than-Temporary Impairments

For a discussion of our policy for evaluating investments for other-than-temporary impairments, see Note 6 to the Consolidated Financial Statements in the 2013 Annual Report.

Credit Impairments

The following table presents a rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings for available for sale fixed maturity securities:

Three Months Ended March 31,
(in millions)		2014		2013
Balance, beginning of year	$	3,872	$	5,164
Increases due to:
Credit impairments on new securities subject to impairment losses		9		17
Additional credit impairments on previously impaired securities		36		18
Reductions due to:
Credit impaired securities fully disposed for which there was no
prior intent or requirement to sell		-		(391)
Credit impaired securities for which there is a current intent or
anticipated requirement to sell		-		-
Accretion on securities previously impaired due to credit^*		(188)		(205)
Hybrid securities with embedded credit derivatives reclassified
to other bond securities		-		-
Other		(9)		-
Balance, end of period	$	3,720	$	4,603

* Represents both accretion recognized due to changes in cash flows expected to be collected over the remaining expected term of the credit impaired securities and the accretion due to the passage of time.

Purchased Credit Impaired (PCI) Securities

We purchase certain RMBS securities that have experienced deterioration in credit quality since their issuance. We determine, based on our expectations as to the timing and amount of cash flows expected to be received, whether it is probable at acquisition that we will not collect all contractually required payments for these PCI securities, including both principal and interest after considering the effects of prepayments. At acquisition, the timing and amount of the undiscounted future cash flows expected to be received on each PCI security is determined based on our best estimate using key assumptions, such as interest rates, default rates and prepayment speeds. At acquisition, the difference between the undiscounted expected future cash flows of the PCI securities and the recorded investment in the securities represents the initial accretable yield, which is accreted into net investment income over their remaining lives on a level-yield basis. Additionally, the difference between the contractually required payments on the PCI securities and the undiscounted expected future cash flows represents the non-accretable difference at acquisition. The accretable yield and the non-accretable difference will change over time, based on actual payments received and changes in estimates of undiscounted expected future cash flows, which are discussed further below.

On a quarterly basis, the undiscounted expected future cash flows associated with PCI securities are re-evaluated based on updates to key assumptions. Declines in undiscounted expected future cash flows due to further credit deterioration as well as changes in the expected timing of the cash flows can result in the recognition of an other-than-temporary impairment charge, as PCI securities are subject to our policy for evaluating investments for other-than-temporary impairment. Changes to undiscounted expected future cash flows due solely to the changes in the contractual benchmark interest rates on variable rate PCI securities will change the accretable yield prospectively. Significant increases in undiscounted expected future cash flows for reasons other than interest rate changes are recognized prospectively as adjustments to the accretable yield.

The following tables present information on our PCI securities, which are included in bonds available for sale:

(in millions)	At Date of Acquisition
Contractually required payments (principal and interest)	$	27,484
Cash flows expected to be collected^*		21,919
Recorded investment in acquired securities		14,437

* Represents undiscounted expected cash flows, including both principal and interest.

(in millions)	March 31, 2014		December 31, 2013
Outstanding principal balance	$	15,923	$	14,741
Amortized cost		11,235		10,110
Fair value		12,547		11,338

The following table presents activity for the accretable yield on PCI securities:

Three Months Ended March 31,
(in millions)		2014		2013
Balance, beginning of period	$	6,940	$	4,766
Newly purchased PCI securities		522		345
Disposals		-		(60)
Accretion		(212)		(160)
Effect of changes in interest rate indices		(59)		84
Net reclassification from non-accretable difference,
including effects of prepayments		(21)		139
Balance, end of period	$	7,170	$	5,114

Pledged Investments

Secured Financing and Similar Arrangements

We enter into financing transactions whereby certain securities are transferred to financial institutions in exchange for cash or other liquid collateral. Securities transferred by us under these financing transactions may be sold or repledged by the counterparties. As collateral for the securities transferred by us, counterparties transfer assets to us, such as cash or high quality fixed maturity securities. Collateral levels are monitored daily and are generally maintained at an agreed-upon percentage of the fair value of the transferred securities during the life of the transactions. Where we receive fixed maturity securities as collateral, we do not have the right to sell or repledge the collateral unless an event of default occurs by the counterparties. At the termination of the transactions, we and our counterparties are obligated to return the collateral provided and the securities transferred, respectively. We treat these transactions as secured financing arrangements.

Secured financing transactions also include securities sold under agreements to repurchase (repurchase agreements), in which we transfer securities in exchange for cash, with an agreement by us to repurchase the same or substantially similar securities. In the majority of these repurchase agreements, the securities transferred by us may be sold or repledged by the counterparties. Repurchase agreements entered into by DIB are carried at fair value based on market-observable interest rates. All other repurchase agreements are recorded at their contracted repurchase amounts plus accrued interest.

The following table presents the fair value of securities pledged to counterparties under secured financing transactions:

(in millions)		March 31, 2014		December 31, 2013
Securities available for sale	$	2,402	$	3,907
Other securities		2,722		2,766

We also enter into agreements in which securities are purchased by us under agreements to resell (reverse repurchase agreements), which are accounted for as secured financing transactions and reported as short-term investments or other assets, depending on their terms. These agreements are recorded at their contracted resale amounts plus accrued interest, other than those that are accounted for at fair value. Such agreements entered into by the DIB are carried at fair value based on market observable interest rates. In all reverse repurchase transactions, we take possession of or obtain a security interest in the related securities, and we have the right to sell or repledge this collateral received.

The following table presents information on the fair value of securities pledged to us under reverse repurchase agreements:

(in millions)		March 31, 2014		December 31, 2013
Securities collateral pledged to us	$	8,166	$	8,878
Amount repledged by us		66		71

Insurance - Statutory and Other Deposits

Total carrying values of cash and securities deposited by our insurance subsidiaries under requirements of regulatory authorities or other insurance-related arrangements, including certain annuity-related obligations and certain reinsurance treaties, were $6.7 billion at both March 31, 2014 and December 31, 2013.

Other Pledges

Certain of our subsidiaries are members of Federal Home Loan Banks (FHLBs) and such membership requires the members to own stock in these FHLBs. We owned an aggregate of $53 million and $57 million of stock in FHLBs at March 31, 2014 and December 31, 2013, respectively. In addition, our subsidiaries have pledged securities available for sale with a fair value of $529 million and $80 million at March 31, 2014 and December 31, 2013, respectively, associated with advances from the FHLBs.

Certain GIAs have provisions that require collateral to be posted or payments to be made by us upon a downgrade of our long-term debt ratings. The actual amount of collateral required to be posted to the counterparties in the event of such downgrades, and the aggregate amount of payments that we could be required to make, depend on market conditions, the fair value of outstanding affected transactions and other factors prevailing at and after the time of the downgrade. The fair value of securities pledged as collateral with respect to these obligations approximated $3.8 billion and $4.2 billion at March 31, 2014 and December 31, 2013, respectively. This collateral primarily consists of securities of the U.S. government and government sponsored entities and generally cannot be repledged or resold by the counterparties.

- Definition

The entire disclosure for investments in certain debt and equity securities.

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+ Details

LENDING ACTIVITIES

3 Months Ended

Mar. 31, 2014

LENDING ACTIVITIES

LENDING ACTIVITIES

7. LENDING ACTIVITIES

The following table presents the composition of Mortgage and other loans receivable:

	March 31,			December 31,
(in millions)		2014		2013
Commercial mortgages^*	$	16,672	$	16,195
Life insurance policy loans		2,777		2,830
Commercial loans, other loans and notes receivable		2,419		2,052
Total mortgage and other loans receivable		21,868		21,077
Allowance for losses		(299)		(312)
Mortgage and other loans receivable, net	$	21,569	$	20,765

* Commercial mortgages primarily represent loans for office, retail and industrial properties, with exposures in California and New York representing the largest geographic concentrations (aggregating approximately 17 percent and 17 percent, respectively, at March 31, 2014, and approximately 18 percent and 17 percent, respectively, at December 31, 2013).

The following table presents the credit quality indicators for commercial mortgages:

	Number															Percent
	of	Class														of
(dollars in millions)	Loans	Apartments			Offices		Retail	Industrial			Hotel		Others		Total^(c)	Total $
March 31, 2014
Credit Quality Indicator:
In good standing	977	$	2,798	$	4,643	$	3,551	$	1,735	$	1,462	$	2,000	$	16,189	97	%
Restructured^(a)	10		54		283		7		-		-		85		429	3
90 days or less delinquent	3		-		11		5		-		-		-		16	-
>90 days delinquent or in
process of foreclosure	5		-		38		-		-		-		-		38	-
Total^(b)	995	$	2,852	$	4,975	$	3,563	$	1,735	$	1,462	$	2,085	$	16,672	100	%
Valuation allowance		$	11	$	114	$	8	$	20	$	3	$	44	$	200	1	%

December 31, 2013
Credit Quality Indicator:
In good standing	978	$	2,786	$	4,636	$	3,364	$	1,607	$	1,431	$	1,970	$	15,794	98	%
Restructured^(a)	9		53		210		6		-		-		85		354	2
90 days or less delinquent	2		-		-		5		-		-		-		5	-
>90 days delinquent or in
process of foreclosure	6		-		42		-		-		-		-		42	-
Total^(b)	995	$	2,839	$	4,888	$	3,375	$	1,607	$	1,431	$	2,055	$	16,195	100	%
Allowance for losses		$	10	$	109	$	9	$	19	$	3	$	51	$	201	1	%

(a) Loans that have been modified in troubled debt restructurings and are performing according to their restructured terms. For additional discussion of troubled debt restructurings see Note 7 to the Consolidated Financial Statements in the 2013 Annual Report.

(b) Does not reflect valuation allowances.

(c) Approximately 99 percent of the commercial mortgages held at such respective dates were current as to payments of principal and interest.

Allowance for Loan Losses

See Note 7 to the Consolidated Financial Statements in the 2013 Annual Report for a discussion of our accounting policy for evaluating mortgage and other loans receivable for impairment.

The following table presents a rollforward of the changes in the allowance for losses on Mortgage and other loans receivable:

	2014						2013
Three Months Ended March 31,		Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	201	$	111	$	312	$	159	$	246	$	405
Loans charged off		-		-		-		(1)		(22)		(23)
Recoveries of loans previously charged off		-		-		-		-		1		1
Net charge-offs		-		-		-		(1)		(21)		(22)
Provision for loan losses		(1)		(12)		(13)		7		(4)		3
Other		-		-		-		-		(1)		(1)
Activity of discontinued operations		-		-		-		-		-		-
Allowance, end of period	$	200^*	$	99	$	299	$	165^*	$	220	$	385

* Of the total allowance at the end of the period, $98 million and $53 million relates to individually assessed credit losses on $281 million and $208 million of commercial mortgage loans at March 31, 2014 and 2013, respectively.

No significant loans were modified in a troubled debt restructuring during the first quarters of 2014 and 2013.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References+ Details

VARIABLE INTEREST ENTITIES

3 Months Ended

Mar. 31, 2014

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES

8. VARIABLE INTEREST ENTITIES

We enter into various arrangements with variable interest entities (VIEs) in the normal course of business and consolidate the VIEs when we determine we are the primary beneficiary. This analysis includes a review of the VIE’s capital structure, contractual relationships and terms, nature of the VIE’s operations and purpose, nature of the VIE’s interests issued and our involvement with the entity. When assessing the need to consolidate a VIE, we evaluate the design of the VIE as well as the related risks the entity was designed to expose the variable interest holders to.

For VIEs with attributes consistent with that of an investment company or a money market fund, the primary beneficiary is the party or group of related parties that absorbs a majority of the expected losses of the VIE, receives the majority of the expected residual returns of the VIE, or both.

For all other VIEs, the primary beneficiary is the entity that has both (1) the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. While also considering these factors, the consolidation conclusion depends on the breadth of our decision-making ability and our ability to influence activities that significantly affect the economic performance of the VIE.

Balance Sheet Classification and Exposure to Loss

The following table presents the total assets and total liabilities associated with our variable interests in consolidated VIEs, as classified in the Condensed Consolidated Balance Sheets:

(in millions)		Real Estate and Investment Funds^(c)		Securitization Vehicles		Structured Investment Vehicles		Affordable Housing Partnerships		Other		Total
March 31, 2014
Assets:
Bonds available for sale	$	-	$	11,362	$	-	$	-	$	57	$	11,419
Other bond securities		-		8,002		731		-		113		8,846
Mortgage and other loans receivable		-		1,731		-		-		182		1,913
Other invested assets		654		-		-		1,941		761		3,356
Other assets		48		800		111		45		614		1,618
Total assets^(a)(b)	$	702	$	21,895	$	842	$	1,986	$	1,727	$	27,152
Liabilities:
Long-term debt	$	70	$	1,265	$	98	$	224	$	136	$	1,793
Other liabilities		37		295		1		87		221		641
Total liabilities	$	107	$	1,560	$	99	$	311	$	357	$	2,434
December 31, 2013
Assets:
Bonds available for sale	$	-	$	11,028	$	-	$	-	$	70	$	11,098
Other bond securities		-		7,449		748		-		113		8,310
Mortgage and other loans receivable		-		1,508		-		-		189		1,697
Other invested assets		849		-		-		1,986		793		3,628
Other assets		49		481		93		41		615		1,279
Total assets^(a)(b)	$	898	$	20,466	$	841	$	2,027	$	1,780	$	26,012
Liabilities:
Long-term debt	$	71	$	494	$	87	$	188	$	154	$	994
Other liabilities		31		74		-		83		367		555
Total liabilities	$	102	$	568	$	87	$	271	$	521	$	1,549

(a) The assets of each VIE can be used only to settle specific obligations of that VIE.

(b) At March 31, 2014 and December 31, 2013, includes approximately $21.8 billion and $21.4 billion, respectively, of investment-grade debt securities, loans and other assets held by certain securitization vehicles that issued beneficial interests in these investments. The majority of the beneficial interests issued are held by AIG.

(c) At both March 31, 2014 and December 31, 2013, off-balance sheet exposure, primarily consisting of commitments to real estate and investment funds, was $50.8 million.

We calculate our maximum exposure to loss to be (i) the amount invested in the debt or equity of the VIE, (ii) the notional amount of VIE assets or liabilities where we have also provided credit protection to the VIE with the VIE as the referenced obligation, and (iii) other commitments and guarantees to the VIE. Interest holders in VIEs sponsored by us generally have recourse only to the assets and cash flows of the VIEs and do not have recourse to us, except in limited circumstances when we have provided a guarantee to the VIE’s interest holders.

The following table presents total assets of unconsolidated VIEs in which we hold a variable interest, as well as our maximum exposure to loss associated with these VIEs:

			Maximum Exposure to Loss
		Total VIE		On-Balance		Off-Balance
(in millions)		Assets		Sheet^*		Sheet		Total
March 31, 2014
Real estate and investment funds	$	18,334	$	2,446	$	369	$	2,815
Affordable housing partnerships		478		478		-		478
Other		609		29		-		29
Total	$	19,421	$	2,953	$	369	$	3,322
December 31, 2013
Real estate and investment funds	$	17,572	$	2,343	$	289	$	2,632
Affordable housing partnerships		478		477		-		477
Other		708		37		-		37
Total	$	18,758	$	2,857	$	289	$	3,146

* At March 31, 2014 and December 31, 2013, $2.9 billion and $2.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.

See Note 10 to the Consolidated Financial Statements in the 2013 Annual Report for additional information on VIEs.

DERIVATIVES AND HEDGE ACCOUNTING

3 Months Ended

Mar. 31, 2014

DERIVATIVES AND HEDGE ACCOUNTING

DERIVATIVES AND HEDGE ACCOUNTING

9. DERIVATIVES AND HEDGE ACCOUNTING

We use derivatives and other financial instruments as part of our financial risk management programs and as part of our investment operations. See Note 11 to the Consolidated Financial Statements in the 2013 Annual Report for a discussion of our accounting policies and procedures regarding derivatives and hedge accounting.

The following table presents the notional amounts and fair values of our derivative instruments:

	March 31, 2014								December 31, 2013
	Gross Derivative Assets				Gross Derivative Liabilities				Gross Derivative Assets				Gross Derivative Liabilities
		Notional		Fair		Notional		Fair		Notional		Fair		Notional		Fair
(in millions)		Amount		Value^(a)		Amount		Value^(a)		Amount		Value^(a)		Amount		Value^(a)
Derivatives designated as
hedging instruments:
Interest rate contracts^(b)	$	-	$	-	$	114	$	13	$	-	$	-	$	112	$	15
Foreign exchange contracts		210		2		1,752		153		-		-		1,857		190
Equity contracts^(c)		80		4		25		-		-		-		-		-
Derivatives not designated
as hedging instruments:
Interest rate contracts^(b)		54,735		3,797		58,374		4,399		50,897		3,771		59,585		3,849
Foreign exchange contracts		2,091		35		3,840		101		1,774		52		3,789		129
Equity contracts^(c)		4,106		203		32,531		875		29,296		413		9,840		524
Commodity contracts		17		1		13		4		17		1		13		5
Credit contracts		60		41		15,252		1,226		70		55		15,459		1,335
Other contracts^(d)		33,396		36		1,325		171		32,440		34		1,408		167
Total derivatives not
designated as hedging
instruments		94,405		4,113		111,335		6,776		114,494		4,326		90,094		6,009
Total derivatives, gross	$	94,695	$	4,119	$	113,226	$	6,942	$	114,494	$	4,326	$	92,063	$	6,214

(a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral.

(b) Includes cross-currency swaps.

(c) Notional amount of derivative assets and fair value of derivative assets were both zero at March 31, 2014 and were $23.2 billion and $107 million at December 31, 2013, respectively, related to bifurcated embedded derivatives. Notional amount of derivative liabilities and fair value of derivative liabilities include $32 billion and $782 million, respectively, at March 31, 2014, and $6.7 billion and $424 million, respectively, at December 31, 2013, related to bifurcated embedded derivatives. A bifurcated embedded derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets.

(d) Consists primarily of contracts with multiple underlying exposures.

The following table presents the fair values of derivative assets and liabilities in the Condensed Consolidated Balance Sheets:

	March 31, 2014								December 31, 2013
	Derivative Assets				Derivative Liabilities				Derivative Assets				Derivative Liabilities
		Notional		Fair		Notional		Fair		Notional		Fair		Notional		Fair
(in millions)		Amount		Value		Amount		Value		Amount		Value		Amount		Value
Global Capital Markets derivatives:
AIG Financial Products	$	41,629	$	2,470	$	52,643	$	3,850	$	41,942	$	2,567	$	52,679	$	3,506
AIG Markets		14,986		1,016		19,263		1,499		12,531		964		23,716		1,506
Total Global Capital Markets derivatives		56,615		3,486		71,906		5,349		54,473		3,531		76,395		5,012
Non-Global Capital Markets derivatives^(a)		38,080		633		41,320		1,593		60,021		795		15,668		1,202
Total derivatives, gross	$	94,695		4,119	$	113,226		6,942	$	114,494		4,326	$	92,063		6,214
Counterparty netting^(b)				(1,680)				(1,680)				(1,734)				(1,734)
Cash collateral^(c)				(838)				(1,375)				(820)				(1,484)
Total derivatives, net				1,601				3,887				1,772				2,996
Less: Bifurcated embedded derivatives				-				848				107				485
Total derivatives on consolidated
balance sheet			$	1,601			$	3,039			$	1,665			$	2,511

(a) Represents derivatives used to hedge the foreign currency and interest rate risk associated with insurance as well as embedded derivatives included in insurance contracts. Assets and liabilities include bifurcated embedded derivatives which are recorded in Policyholder contract deposits.

(b) Represents netting of derivative exposures covered by a qualifying master netting agreement.

Collateral

We engage in derivative transactions that are not subject to a clearing requirement directly with unaffiliated third parties, in most cases, under International Swaps and Derivatives Association, Inc. (ISDA) Master agreements. Many of the ISDA agreements also include Credit Support Annex (CSA) provisions, which provide for collateral postings that may vary at various ratings and threshold levels. We attempt to reduce our risk with certain counterparties by entering into agreements that enable collateral to be obtained from a counterparty on an upfront or contingent basis. We minimize the risk that counterparties to transactions might be unable to fulfill their contractual obligations by monitoring counterparty credit exposure and collateral value and generally requiring additional collateral to be posted upon the occurrence of certain events or circumstances. In addition, certain derivative transactions have provisions that require collateral to be posted upon a downgrade of our long-term debt ratings or give the counterparty the right to terminate the transaction. In the case of some of the derivative transactions, upon a downgrade of our long-term debt ratings, as an alternative to posting collateral and subject to certain conditions, we may assign the transaction to an obligor with higher debt ratings or arrange for a substitute guarantee of our obligations by an obligor with higher debt ratings or take other similar action. The actual amount of collateral required to be posted to counterparties in the event of such downgrades, or the aggregate amount of payments that we could be required to make, depends on market conditions, the fair value of outstanding affected transactions and other factors prevailing at and after the time of the downgrade.

Collateral posted by us to third parties for derivative transactions was $3.0 billion and $3.2 billion at March 31, 2014 and December 31, 2013, respectively. In the case of collateral posted under derivative transactions that are not subject to clearing, this collateral can generally be repledged or resold by the counterparties. Collateral provided to us from third parties for derivative transactions was $1.1 billion and $1.0 billion at March 31, 2014 and December 31, 2013, respectively. We generally can repledge or resell this collateral.

Offsetting

We have elected to present all derivative receivables and derivative payables, and the related cash collateral received and paid, on a net basis on our Condensed Consolidated Balance Sheets when a legally enforceable ISDA Master Agreement exists between us and our derivative counterparty. An ISDA Master Agreement is an agreement between two counterparties, governing multiple derivative transactions between the two counterparties. The ISDA Master Agreement generally provides for the net settlement of all, or a specified group, of these derivative transactions, as well as cash collateral, through a single payment, and in a single currency, as applicable. The net settlement provisions apply in the event of a default on, or affecting any, one derivative transaction or a termination event affecting all, or a specified group of, derivative transactions governed by the ISDA Master Agreement.

Hedge Accounting

We designated certain derivatives entered into by Global Capital Markets (GCM) with third parties as fair value hedges of available-for-sale investment securities held by our insurance subsidiaries. The fair value hedges include foreign currency forwards designated as hedges of the change in fair value of foreign currency denominated available-for-sale securities attributable to changes in foreign exchange rates. We also designated certain cross-currency interest rate swaps as hedges of the change in fair values of fixed-rate GICs attributable to changes in benchmark interest rates and foreign exchange rates.

We use foreign currency denominated debt and cross-currency swaps as hedging instruments in net investment hedge relationships to mitigate the foreign exchange risk associated with our non-U.S. dollar functional currency foreign subsidiaries. We assess the hedge effectiveness and measure the amount of ineffectiveness for these hedge relationships based on changes in spot exchange rates. For the three month periods ended March 31, 2014 and 2013, we recognized gains of $3 million and $130 million, respectively, included in Change in foreign currency translation adjustment in Other comprehensive income related to the net investment hedge relationships.

A qualitative methodology is utilized to assess hedge effectiveness for net investment hedges, while regression analysis is employed for all other hedges.

The following table presents the gain (loss) recognized in earnings on our derivative instruments in fair value hedging relationships^(a) in the Condensed Consolidated Statements of Income:

Three Months Ended March 31,
(in millions)		2014		2013
Interest rate contracts:
Gain recognized in earnings on derivatives^(b)	$	2	$	-
Gain recognized in earnings on hedged items^(c)		65		30
Foreign exchange contracts:^(d)
Gain (loss) recognized in earnings on derivatives		24		(5)
Gain (loss) recognized in earnings on hedged items		(32)		4
Loss recognized in earnings for amounts excluded from effectiveness testing		(8)		(1)

(a) Excludes immaterial amounts related to equity forwards used to hedge the change in fair value of available-for-sale common stock.

(b) Includes gains of $1 million recorded in Interest credited to policyholder account balances and $1 million recorded in Net realized capital gains (losses) for the three month period ending March 31, 2014.

(c) Includes gains of $18 million and $30 million for the three month periods ended March 31, 2014 and 2013, respectively, representing the amortization of debt basis adjustment recorded in Other income and Net realized capital gains (losses) following the discontinuation of hedge accounting. Also includes gains of $50 million for the three month period ended March 31, 2014, recorded in Loss on extinguishment of debt, representing the release of debt basis following the repurchase of issued debt that was part of previously discontinued hedge accounting relationships.

(d) Gains and losses recognized in earnings for the ineffective portion and amounts excluded from effectiveness testing, if any, are recorded in Net realized capital gains (losses).

Derivatives Not Designated as Hedging Instruments

The following table presents the effect of derivative instruments not designated as hedging instruments in the Condensed Consolidated Statements of Income:

	Gains (Losses)
Three Months Ended March 31,	Recognized in Earnings
(in millions)		2014		2013
By Derivative Type:
Interest rate contracts^(a)	$	139	$	(216)
Foreign exchange contracts		(14)		155
Equity contracts^(b)		(422)		44
Commodity contracts		1		-
Credit contracts		80		175
Other contracts		15		44
Total	$	(201)	$	202
By Classification:
Policy fees	$	68	$	45
Net investment income		14		24
Net realized capital losses		(337)		(276)
Other income		49		412
Policyholder benefits and claims incurred		5		(3)
Total	$	(201)	$	202

(a) Includes cross currency swaps.

(b) Includes embedded derivative gains (losses) of $(389) million and $256 million for the three month periods ended March 31, 2014 and 2013, respectively.

Global Capital Markets Derivatives

Derivative transactions between AIG and its subsidiaries and third parties are generally centralized through GCM, specifically AIG Markets, Inc. (AIG Markets). The derivatives portfolio of AIG Markets consists primarily of interest rate and currency derivatives and also includes legacy credit derivatives that have been novated from AIG Financial Products Corp. and AIG Trading Group Inc. and their respective subsidiaries (collectively, AIGFP). AIGFP also enters into derivatives to mitigate market risk in its exposures (interest rates, currencies, credit, commodities and equities) arising from its transactions.

GCM follows a policy of minimizing interest rate, currency, commodity, and equity risks associated with investment securities by entering into offsetting positions, thereby offsetting a significant portion of the unrealized appreciation and depreciation.

Super Senior Credit Default Swaps

Credit default swap (CDS) transactions were entered into with the intention of earning revenue on credit exposure. In the majority of these transactions, we sold credit protection on a designated portfolio of loans or debt securities. Generally, such credit protection was provided on a “second loss” basis, meaning we would incur credit losses only after a shortfall of principal and/or interest, or other credit events, in respect of the protected loans and debt securities, exceeded a specified threshold amount or level of “first losses.”

The following table presents the net notional amount (net of all structural subordination below the covered tranches), fair value of derivative (asset) liability before the effects of counterparty netting adjustments and offsetting cash collateral and unrealized market valuation gain (loss) of the super senior credit default swap portfolio by asset class:

						Fair Value of			Unrealized Market Valuation
	Net Notional Amount at				Derivative Liability at				Three Months Ended
	March 31,			December 31,	March 31,			December 31,	March 31,			March 31,
(in millions)		2014		2013		2014		2013		2014		2013
Arbitrage:
Multi-sector CDOs^(a)		3,166		3,257		1,151		1,249		72		155
Corporate debt/CLOs^(b)		11,821		11,832		25		28		3		16
Total	$	14,987	$	15,089	$	1,176	$	1,277	$	75	$	171

(a) During the three month period ended March 31, 2014, we paid $26 million to counterparties with respect to multi-sector CDOs, which was previously included in the fair value of the derivative liability as an unrealized market valuation loss. Collateral postings with regards to multi-sector CDOs were $1.0 billion and $1.1 billion at March 31, 2014 and December 31, 2013, respectively.

(b) Corporate debt/Collateralized Loan Obligations (CLOs) include $1.0 billion in net notional amount of credit default swaps written on the super senior tranches of CLOs at both March 31, 2014 and December 31, 2013. Collateral postings with regards to corporate debt/CLOs were $352 million and $353 million at March 31, 2014 and December 31, 2013, respectively.

The expected weighted average maturity of the super senior credit derivative portfolios as of March 31, 2014 was six years for the multi-sector CDO arbitrage portfolio and two years for the corporate debt/CLO portfolio.

Because of long-term maturities of the CDSs in the arbitrage portfolio, we are unable to make reasonable estimates of the periods during which any payments would be made. However, the net notional amount represents the maximum exposure to loss on the super senior credit default swap portfolio.

Written Single Name Credit Default Swaps

We have legacy credit default swap contracts referencing single-name exposures written on corporate, index and asset-backed credits with the intention of earning spread income on credit exposure. Some of these transactions were entered into as part of a long-short strategy to earn the net spread between CDSs written and purchased. At March 31, 2014 and December 31, 2013, the net notional amounts of these written CDS contracts were $302 million and $373 million, respectively, including ABS CDS transactions purchased from a liquidated multi-sector super senior CDS transaction. These exposures were partially hedged by purchasing offsetting CDS contracts of $50 million in net notional amounts at both March 31, 2014 and December 31, 2013. The net unhedged positions of $252 million and $323 million at March 31, 2014 and December 31, 2013, respectively, represent the maximum exposure to loss on these CDS contracts. The average maturity of the written CDS contracts was three years at both March 31, 2014 and December 31, 2013. At March 31, 2014 and December 31, 2013, the fair values of derivative liabilities (which represents the carrying value) of the portfolio of CDS were $29 million and $32 million, respectively.

Upon a triggering event (e.g., a default) with respect to the underlying reference obligations, settlement is generally effected through the payment of the notional amount of the contract to the counterparty in exchange for the related principal amount of securities issued by the underlying credit obligor (physical settlement) or, in some cases, payment of an amount associated with the value of the notional amount of the reference obligations through a market quotation process (cash settlement).

These CDS contracts were written under ISDA Master Agreements. The majority of these ISDA Master Agreements include credit support annexes (CSAs) that provide for collateral postings that may vary at various ratings and threshold levels. At March 31, 2014 and December 31, 2013, net collateral posted by us under these contracts was $34 million and $38 million, respectively, prior to offsets for other transactions.

All Other Derivatives

Our businesses other than GCM also use derivatives and other instruments as part of their financial risk management. Interest rate derivatives (such as interest rate swaps) are used to manage interest rate risk associated with embedded derivatives contained in insurance contract liabilities, fixed maturity securities, outstanding medium- and long-term notes as well as other interest rate sensitive assets and liabilities. Foreign exchange derivatives (principally foreign exchange forwards and options) are used to economically mitigate risk associated with non-U.S. dollar denominated debt, net capital exposures, and foreign currency transactions. Equity derivatives are used to mitigate financial risk embedded in certain insurance liabilities. The derivatives are effective economic hedges of the exposures that they are meant to offset.

In addition to hedging activities, we also enter into derivative instruments with respect to investment operations, which include, among other things, credit default swaps and purchasing investments with embedded derivatives, such as equity-linked notes and convertible bonds.

Credit Risk-Related Contingent Features

The aggregate fair value of our derivative instruments that contain credit risk-related contingent features that were in a net liability position at March 31, 2014 and December 31, 2013, was approximately $2.9 billion and $2.6 billion, respectively. The aggregate fair value of assets posted as collateral under these contracts at March 31, 2014 and December 31, 2013, was $3.0 billion and $3.1 billion, respectively.

We estimate that at March 31, 2014, based on our outstanding financial derivative transactions, a one-notch downgrade of our long-term senior debt ratings to BBB+ by Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. (S&P), would permit counterparties to make additional collateral calls and permit certain counterparties to elect early termination of contracts, resulting in a negligible amount of corresponding collateral postings and termination payments; a one-notch downgrade to Baa2 by Moody’s Investors’ Service, Inc. (Moody’s) and an additional one-notch downgrade to BBB by S&P would result in approximately $61 million in additional collateral postings and termination payments, and a further one-notch downgrade to Baa3 by Moody’s and BBB- by S&P would result in approximately $139 million in additional collateral postings and termination payments.

Additional collateral postings upon downgrade are estimated based on the factors in the individual collateral posting provisions of the CSA with each counterparty and current exposure as of March 31, 2014. Factors considered in estimating the termination payments upon downgrade include current market conditions, the complexity of the derivative transactions, historical termination experience and other observable market events such as bankruptcy and downgrade events that have occurred at other companies. Our estimates are also based on the assumption that counterparties will terminate based on their net exposure to us. The actual termination payments could significantly differ from our estimates given market conditions at the time of downgrade and the level of uncertainty in estimating both the number of counterparties who may elect to exercise their right to terminate and the payment that may be triggered in connection with any such exercise.

Hybrid Securities with Embedded Credit Derivatives

We invest in hybrid securities (such as credit-linked notes) with the intent of generating income, and not specifically to acquire exposure to embedded derivative risk. As is the case with our other investments in RMBS, CMBS, CDOs and ABS, our investments in these hybrid securities are exposed to losses only up to the amount of our initial investment in the hybrid security. Other than our initial investment in the hybrid securities, we have no further obligation to make payments on the embedded credit derivatives in the related hybrid securities.

We elect to account for our investments in these hybrid securities with embedded written credit derivatives at fair value, with changes in fair value recognized in Net investment income and Other income. Our investments in these hybrid securities are reported as Other bond securities in the Consolidated Balance Sheets. The fair values of these hybrid securities were $6.3 billion and $6.4 billion at March 31, 2014 and December 31, 2013, respectively. These securities have par amounts of $13.1 billion and $13.4 billion at March 31, 2014 and December 31, 2013, respectively, and have remaining stated maturity dates that extend to 2052.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

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+ Details

CONTINGENCIES, COMMITMENTS AND GUARANTEES	3 Months Ended
CONTINGENCIES, COMMITMENTS AND GUARANTEES	Mar. 31, 2014
CONTINGENCIES, COMMITMENTS AND GUARANTEES
CONTINGENCIES, COMMITMENTS AND GUARANTEES	10. CONTINGENCIES, COMMITMENTS AND GUARANTEES In the normal course of business, various contingent liabilities and commitments are entered into by AIG and our subsidiaries. In addition, AIG Parent guarantees various obligations of certain subsidiaries. Although AIG cannot currently quantify its ultimate liability for unresolved litigation and investigation matters, including those referred to below, it is possible that such liability could have a material adverse effect on AIG’s consolidated financial condition or its consolidated results of operations or consolidated cash flows for an individual reporting period. Legal Contingencies Overview. In the normal course of business, AIG and our subsidiaries are, like others in the insurance and financial services industries in general, subject to litigation, including claims for punitive damages. In our insurance and mortgage guaranty operations, litigation arising from claims settlement activities is generally considered in the establishment of our liability for unpaid claims and claims adjustment expense. However, the potential for increasing jury awards and settlements makes it difficult to assess the ultimate outcome of such litigation. AIG is also subject to derivative, class action and other claims asserted by its shareholders and others alleging, among other things, breach of fiduciary duties by its directors and officers and violations of insurance laws and regulations, as well as federal and state securities laws. In the case of any derivative action brought on behalf of AIG, any recovery would accrue to the benefit of AIG. Various regulatory and governmental agencies have been reviewing certain transactions and practices of AIG and our subsidiaries in connection with industry-wide and other inquiries into, among other matters, certain business practices of current and former operating insurance subsidiaries. We have cooperated, and will continue to cooperate, in producing documents and other information in response to subpoenas and other requests. AIG’s Subprime Exposure, AIGFP Credit Default Swap Portfolio and Related Matters AIG, AIGFP and certain directors and officers of AIG, AIGFP and other AIG subsidiaries have been named in various actions relating to our exposure to the U.S. residential subprime mortgage market, unrealized market valuation losses on AIGFP’s super senior credit default swap portfolio, losses and liquidity constraints relating to our securities lending program and related disclosure and other matters (Subprime Exposure Issues). Consolidated 2008 Securities Litigation. Between May 21, 2008 and January 15, 2009, eight purported securities class action complaints were filed against AIG and certain directors and officers of AIG and AIGFP, AIG’s outside auditors, and the underwriters of various securities offerings in the United States District Court for the Southern District of New York (the Southern District of New York), alleging claims under the Securities Exchange Act of 1934, as amended (the Exchange Act), or claims under the Securities Act of 1933, as amended (the Securities Act). On March 20, 2009, the Court consolidated all eight of the purported securities class actions as In re American International Group, Inc. 2008 Securities Litigation (the Consolidated 2008 Securities Litigation). On May 19, 2009, the lead plaintiff in the Consolidated 2008 Securities Litigation filed a consolidated complaint on behalf of purchasers of AIG Common Stock during the alleged class period of March 16, 2006 through September 16, 2008, and on behalf of purchasers of various AIG securities offered pursuant to AIG’s shelf registration statements. The consolidated complaint alleges that defendants made statements during the class period in press releases, AIG’s quarterly and year-end filings, during conference calls, and in various registration statements and prospectuses in connection with the various offerings that were materially false and misleading and that artificially inflated the price of AIG Common Stock. The alleged false and misleading statements relate to, among other things, the Subprime Exposure Issues. The consolidated complaint alleges violations of Sections 10(b) and 20(a) of the Exchange Act and Sections 11, 12(a)(2), and 15 of the Securities Act. On August 5, 2009, defendants filed motions to dismiss the consolidated complaint, and on September 27, 2010, the Court denied the motions to dismiss. On April 26, 2013, the Court granted a motion for judgment on the pleadings brought by the defendants. The Court’s order dismissed all claims against the outside auditors in their entirety, and it also reduced the scope of the Securities Act claims against AIG and defendants other than the outside auditors. On January 30, 2014, the Court stayed proceedings in the Consolidated 2008 Securities Litigation pending a decision in Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317 (U.S. Nov. 15, 2013) (Halliburton II), in which the U.S. Supreme Court will consider the validity of, and what is needed to invoke or rebut, the fraud-on-the-market presumption of reliance currently applicable to the certification of classes of claims under Section 10(b) of the Exchange Act. We have accrued our current estimate of probable loss with respect to this litigation. Individual Securities Litigations. Between November 18, 2011 and September 16, 2013, nine separate, though similar, securities actions were filed asserting claims substantially similar to those in the Consolidated 2008 Securities Litigation against AIG and certain directors and officers of AIG and AIGFP (one such action also names as defendants AIG’s outside auditors and the underwriters of various securities offerings). These actions are now pending in the Southern District of New York. The Court has stayed all proceedings in these actions pending a decision in Halliburton II. We have accrued our current estimate of probable loss with respect to these litigations. ERISA Actions – Southern District of New York. Between June 25, 2008 and November 25, 2008, AIG, certain directors and officers of AIG, and members of AIG’s Retirement Board and Investment Committee were named as defendants in eight purported class action complaints asserting claims on behalf of participants in certain pension plans sponsored by AIG or its subsidiaries. The Court subsequently consolidated these eight actions as In re American International Group, Inc. ERISA Litigation II. On September 4, 2012, lead plaintiffs’ counsel filed a second consolidated amended complaint. The action purports to be brought as a class action under the Employee Retirement Income Security Act of 1974, as amended (ERISA), on behalf of all participants in or beneficiaries of certain benefit plans of AIG and its subsidiaries that offered shares of AIG Common Stock. In the second consolidated amended complaint, plaintiffs allege, among other things, that the defendants breached their fiduciary responsibilities to plan participants and their beneficiaries under ERISA, by continuing to offer the AIG Stock Fund as an investment option in the plans after it allegedly became imprudent to do so. The alleged ERISA violations relate to, among other things, the defendants’ purported failure to monitor and/or disclose certain matters, including the Subprime Exposure Issues. On November 20, 2012, defendants filed motions to dismiss the second consolidated amended complaint. As of May 5, 2014, discovery is ongoing, and the Court has not determined if a class action is appropriate or the size or scope of any class. As a result, we are unable to reasonably estimate the possible loss or range of losses, if any, arising from the litigation. Canadian Securities Class Action – Ontario Superior Court of Justice. On November 12, 2008, an application was filed in the Ontario Superior Court of Justice for leave to bring a purported class action against AIG, AIGFP, certain directors and officers of AIG and Joseph Cassano, the former Chief Executive Officer of AIGFP, pursuant to the Ontario Securities Act. If the Court grants the application, a class plaintiff will be permitted to file a statement of claim against defendants. The proposed statement of claim would assert a class period of March 16, 2006 through September 16, 2008 and would allege that during this period defendants made false and misleading statements and omissions in quarterly and annual reports and during oral presentations in violation of the Ontario Securities Act. On April 17, 2009, defendants filed a motion record in support of their motion to stay or dismiss for lack of jurisdiction and forum non conveniens. On July 12, 2010, the Court adjourned a hearing on the motion pending a decision by the Supreme Court of Canada in a pair of actions captioned Club Resorts Ltd. v. Van Breda 2012 SCC 17. On April 18, 2012, the Supreme Court of Canada clarified the standard for determining jurisdiction over foreign and out-of-province defendants, such as AIG, by holding that a defendant must have some form of “actual,” as opposed to a merely “virtual,” presence to be deemed to be “doing business” in the jurisdiction. The Supreme Court of Canada also suggested that in future cases, defendants may contest jurisdiction even when they are found to be doing business in a Canadian jurisdiction if their business activities in the jurisdiction are unrelated to the subject matter of the litigation. The matter has been stayed pending further developments in the Consolidated 2008 Securities Litigation. In plaintiff’s proposed statement of claim, plaintiff alleged general and special damages of $500 million and punitive damages of $50 million plus prejudgment interest or such other sums as the Court finds appropriate. As of May 5, 2014, the Court has not determined whether it has jurisdiction or granted plaintiff’s application to file a statement of claim, no merits discovery has occurred and the action has been stayed. As a result, we are unable to reasonably estimate the possible loss or range of losses, if any, arising from the litigation. Starr International Litigation On November 21, 2011, Starr International Company, Inc. (SICO) filed a complaint against the United States in the United States Court of Federal Claims (the Court of Federal Claims), bringing claims, both individually and on behalf of the classes defined below and derivatively on behalf of AIG (the SICO Treasury Action). The complaint challenges the government’s assistance of AIG, pursuant to which AIG entered into a credit facility with the Federal Reserve Bank of New York (the FRBNY, and such credit facility, the FRBNY Credit Facility) and the United States received an approximately 80 percent ownership in AIG. The complaint alleges that the interest rate imposed on AIG and the appropriation of approximately 80 percent of AIG’s equity was discriminatory, unprecedented, and inconsistent with liquidity assistance offered by the government to other comparable firms at the time and violated the Equal Protection, Due Process, and Takings Clauses of the U.S. Constitution. On November 21, 2011, SICO also filed a second complaint in the Southern District of New York against the FRBNY bringing claims, both individually and on behalf of all others similarly situated and derivatively on behalf of AIG (the SICO New York Action). This complaint also challenges the government’s assistance of AIG, pursuant to which AIG entered into the FRBNY Credit Facility and the United States received an approximately 80 percent ownership in AIG. The complaint alleges that the FRBNY owed fiduciary duties to AIG as our controlling shareholder, and that the FRBNY breached these fiduciary duties by “divert[ing] the rights and assets of AIG and its shareholders to itself and favored third parties” through transactions involving Maiden Lane III LLC (ML III), an entity controlled by the FRBNY, and by “participating in, and causing AIG’s officers and directors to participate in, the evasion of AIG’s existing Common Stock shareholders’ right to approve the massive issuance of the new Common Shares required to complete the government’s taking of a nearly 80 percent interest in the Common Stock of AIG.” SICO also alleges that the “FRBNY has asserted that in exercising its control over, and acting on behalf of, AIG it did not act in an official, governmental capacity or at the direction of the Department of Treasury,” but that “[t]o the extent the proof at or prior to trial shows that the FRBNY did in fact act in a governmental capacity, or at the direction of the Department of Treasury, the improper conduct . . . constitutes the discriminatory takings of the property and property rights of AIG without due process or just compensation.” On January 31, 2012 and February 1, 2012, amended complaints were filed in the Court of Federal Claims and the Southern District of New York, respectively. In rulings dated July 2, 2012 and September 17, 2012, the Court of Federal Claims largely denied the United States’ motion to dismiss in the SICO Treasury Action. Discovery is proceeding. On November 19, 2012, the Southern District of New York granted the FRBNY’s motion to dismiss the SICO New York Action, and on January 29, 2014, the Second Circuit affirmed the Southern District of New York’s dismissal of the SICO New York Action. On April 29, 2014, SICO filed a Petition for Writ of Certiorari, seeking review of the Second Circuit’s order by the Supreme Court of the United States. In both of the actions commenced by SICO, the only claims naming AIG as a party (as a nominal defendant) are derivative claims on behalf of AIG. On September 21, 2012, SICO made a pre-litigation demand on our Board demanding that we pursue the derivative claims in both actions or allow SICO to pursue the claims on our behalf. On January 9, 2013, our Board unanimously refused SICO’s demand in its entirety and on January 23, 2013, counsel for the Board sent a letter to counsel for SICO describing the process by which our Board considered and refused SICO’s demand and stating the reasons for our Board’s determination. On March 11, 2013, SICO filed a second amended complaint in the SICO Treasury Action alleging that its demand was wrongfully refused. On June 26, 2013, the Court of Federal Claims granted AIG’s and the United States’ motions to dismiss SICO’s derivative claims in the SICO Treasury Action and denied the United States’ motion to dismiss SICO’s direct claims. On March 11, 2013, the Court of Federal Claims in the SICO Treasury Action granted SICO’s motion for class certification of two classes with respect to SICO’s non-derivative claims: (1) persons and entities who held shares of AIG Common Stock on or before September 16, 2008 and who owned those shares on September 22, 2008; and (2) persons and entities who owned shares of AIG Common Stock on June 30, 2009 and were eligible to vote those shares at AIG’s June 30, 2009 annual meeting of shareholders. SICO has provided notice of class certification to potential members of the classes, who, pursuant to a court order issued on April 25, 2013, had to return opt-in consent forms by September 16, 2013 to participate in either class. On November 15, 2013, SICO informed the Court that 286,892 holders of AIG Common Stock during the two class periods had opted into the classes. While no longer a party to these actions, AIG understands that SICO is seeking significant damages. Trial in the SICO Treasury Action is scheduled to begin in the Court of Federal Claims on September 29, 2014. The United States has alleged, as an affirmative defense in its answer, that AIG is obligated to indemnify the FRBNY and its representatives, including the Federal Reserve Board of Governors and the United States (as the FRBNY’s principal), for any recovery in the SICO Treasury Action, and seeks a contingent offset or recoupment for the value of net operating loss benefits the United States alleges that we received as a result of the government’s assistance. On November 8, 2013, the Court denied a motion by SICO to strike the United States’ affirmative defenses of indemnification and contingent offset or recoupment. The FRBNY has also requested indemnification in connection with the SICO New York Action from AIG under the FRBNY Credit Facility and from ML III under the Master Investment and Credit Agreement and the Amended and Restated Limited Liability Company Agreement of ML III. A determination that the United States is liable for damages, together with a determination that AIG is obligated to indemnify the United States for any such damages, could have a material adverse effect on our business, consolidated financial condition and results of operations. False Claims Act Complaint On February 25, 2010, a complaint was filed in the United States District Court for the Southern District of California by two individuals (Relators) seeking to assert claims on behalf of the United States against AIG and certain other defendants, including Goldman Sachs and Deutsche Bank, under the False Claims Act. Relators filed a first amended complaint on September 30, 2010, adding certain additional defendants, including Bank of America and Société Générale. The first amended complaint alleged that defendants engaged in fraudulent business practices in respect of their activities in the over-the-counter market for collateralized debt obligations, and submitted false claims to the United States in connection with the FRBNY Credit Facility and Maiden Lane II LLC (ML II) and ML III entities (the Maiden Lane Interests) through, among other things, misrepresenting AIG’s ability and intent to repay amounts drawn on the FRBNY Credit Facility, and misrepresenting the value of the securities that the Maiden Lane Interests acquired from AIG and certain of its counterparties. The first amended complaint sought unspecified damages pursuant to the False Claims Act in the amount of three times the damages allegedly sustained by the United States as well as interest, attorneys’ fees, costs and expenses. The complaint and the first amended complaint were initially filed and maintained under seal while the United States considered whether to intervene in the action. On or about April 28, 2011, after the United States declined to intervene, the District Court lifted the seal, and Relators served the first amended complaint on AIG on July 11, 2011. On April 19, 2013, the Court granted AIG’s motion to dismiss, dismissing the first amended complaint in its entirety, without prejudice, giving the Relators the opportunity to file a second amended complaint. On May 24, 2013, the Relators filed a second amended complaint, which attempted to plead the same claims as the prior complaints and did not specify an amount of alleged damages. AIG and its co-defendants filed motions to dismiss the second amended complaint on August 9, 2013. On March 29, 2014, the Court dismissed the second amended complaint with prejudice. On April 30, 2014, the Relators filed a Notice of Appeal to the Ninth Circuit. We are unable to reasonably estimate the possible loss or range of losses, if any, arising from the litigation. Litigation Matters Relating to AIG’s Insurance Operations Caremark. AIG and certain of its subsidiaries have been named defendants in two putative class actions in state court in Alabama that arise out of the 1999 settlement of class and derivative litigation involving Caremark Rx, Inc. (Caremark). The plaintiffs in the second-filed action intervened in the first-filed action, and the second-filed action was dismissed. An excess policy issued by a subsidiary of AIG with respect to the 1999 litigation was expressly stated to be without limit of liability. In the current actions, plaintiffs allege that the judge approving the 1999 settlement was misled as to the extent of available insurance coverage and would not have approved the settlement had he known of the existence and/or unlimited nature of the excess policy. They further allege that AIG, its subsidiaries, and Caremark are liable for fraud and suppression for misrepresenting and/or concealing the nature and extent of coverage. The complaints filed by the plaintiffs and the intervenors request compensatory damages for the 1999 class in the amount of $3.2 billion, plus punitive damages. AIG and its subsidiaries deny the allegations of fraud and suppression, assert that information concerning the excess policy was publicly disclosed months prior to the approval of the settlement, that the claims are barred by the statute of limitations, and that the statute cannot be tolled in light of the public disclosure of the excess coverage. The plaintiffs and intervenors, in turn, have asserted that the disclosure was insufficient to inform them of the nature of the coverage and did not start the running of the statute of limitations. On August 15, 2012, the trial court entered an order granting plaintiffs’ motion for class certification. AIG and the other defendants have appealed that order to the Alabama Supreme Court, and the case in the trial court will be stayed until that appeal is resolved. General discovery has not commenced and AIG is unable to reasonably estimate the possible loss or range of losses, if any, arising from the litigation. Regulatory and Related Matters Our life insurance companies have received and responded to industry-wide regulatory inquiries, including a multi-state audit and market conduct examination covering compliance with unclaimed property laws and a directive from the New York Insurance Department regarding claims settlement practices and other related state regulatory inquiries. The inquiries concern the use of the Social Security Death Master File (SSDMF) to identify potential claims not yet presented to us in the normal course of business. In connection with the resolution of the multi-state examination relating to these matters in the third quarter of 2012, we paid an $11 million regulatory assessment to the various state insurance departments that are parties to the regulatory settlement to defray costs of their examinations and monitoring. Although we have enhanced our claims practices to include use of the SSDMF, it is possible that the settlement remediation requirements, remaining inquiries, other regulatory activity or litigation could result in the payment of additional amounts. AIG has also received a demand letter from a purported AIG shareholder requesting that the Board of Directors investigate these matters, and bring appropriate legal proceedings against any person identified by the investigation as engaging in misconduct. On January 8, 2014, the independent members of our Board unanimously refused the demand in its entirety, and on February 19, 2014, counsel for the Board sent a letter to counsel for the purported AIG shareholder describing the process by which our Board considered and refused its demand. AIG believes it has adequately reserved for such claims, but there can be no assurance that the ultimate cost will not vary, perhaps materially, from its estimate. In connection with a multi-state examination of certain accident and health products, including travel products, issued by National Union Fire Insurance Company of Pittsburgh, Pa. (National Union), AIG Property Casualty Inc. (formerly Chartis Inc.), on behalf of itself, National Union, and certain of AIG Property Casualty Inc.’s insurance and non-insurance companies (collectively, the AIG PC parties) entered into a Regulatory Settlement Agreement with regulators from 50 U.S. jurisdictions effective November 29, 2012. Under the agreement, and without admitting any liability for the issues raised in the examination, the AIG PC parties (i) paid a civil penalty of $50 million, (ii) entered into a corrective action plan describing agreed-upon specific steps and standards for evaluating the AIG PC parties’ ongoing compliance with laws and regulations governing the issues identified in the examination, and (iii) agreed to pay a contingent fine in the event that the AIG PC parties fail to satisfy certain terms of the corrective action plan. National Union and other AIG companies are also currently subject to civil litigation relating to the conduct of their accident and health business, and may be subject to additional litigation relating to the conduct of such business from time to time in the ordinary course. There can be no assurance that any regulatory action resulting from the issues identified will not have a material adverse effect on our ongoing operations of the business subject to the agreement, or on similar business written by other AIG carriers. Industry-wide examinations conducted by the Minnesota Department of Insurance and the Department of Housing and Urban Development (HUD) on captive reinsurance practices by lenders and mortgage insurance companies, including UGC, have been ongoing for several years. In 2011, the Consumer Financial Protection Bureau (CFPB) assumed responsibility for violations of the Real Estate Settlement Procedures Act from HUD, and assumed HUD’s aforementioned ongoing investigation. UGC and the CFPB reached a settlement, entered on April 8, 2013 by the United States District Court for the Southern District of Florida, where UGC consented to discontinue its remaining captive reinsurance practices and to pay a civil monetary penalty of $4.5 million to the CFPB. The settlement includes a release for all liability related to UGC’s captive reinsurance practices and resolves the CFPB’s investigation. On January 31, 2014, PHH Corp. and various affiliates (all non-parties to the action and the consent order), filed a motion to reopen the case and to intervene therein for the limited purpose of obtaining a declaratory judgment enforcing the consent order. UGC opposed this request, and on March 10, 2014, the Court denied PHH Corp.’s motion. PHH Corp. has filed a Notice of Appeal to the Eleventh Circuit. UGC has received a proposed consent order from the Minnesota Commissioner of Commerce (the MN Commissioner) which alleges that UGC violated the Real Estate Settlement Procedures Act, the Fair Credit Reporting Act and other state and federal laws in connection with its practices with captive reinsurance companies owned by lenders. UGC is engaged in discussions with the MN Commissioner with respect to the terms of the proposed consent order. UGC cannot predict if or when a consent order may be entered into or, if entered into, what the terms of the final consent order will be. UGC is also currently subject to civil litigation relating to its placement of reinsurance with captives owned by lenders, and may be subject to additional litigation relating to the conduct of such business from time to time in the ordinary course. AIG is responding to subpoenas from the New York Department of Financial Services (NYDFS) and the Manhattan District Attorney’s Office (NYDA) relating to AIG’s formerly wholly owned subsidiaries, ALICO and Delaware American Life Insurance Company (DelAm), and other related business units, which were sold by AIG to MetLife in November 2010. The inquiries relate to whether ALICO, DelAm and their representatives conducted insurance business in New York over an extended period of time without a license, and whether certain representations by ALICO concerning its activities in New York were accurate. On or about March 31, 2014, a consent order between MetLife and the NYDFS, whereby MetLife agreed to pay $50 million, and a deferred prosecution agreement with the NYDA, whereby MetLife agreed to pay $10 million, were announced. AIG was not a party to either settlement. The consent order between the NYDFS and MetLife made certain findings, including that former AIG subsidiaries and affiliates conducted insurance business in New York without a license and that ALICO, while operating as a subsidiary of AIG, made misrepresentations and omissions concerning its insurance business activities in New York to NYDFS’s predecessor agency, the New York State Department of Insurance. The NYDFS also found in the consent order that AIG had violated the New York Insurance Law. On April 3, 2014, AIG filed a complaint against the NYDFS and NYDFS Superintendent Benjamin Lawsky in the Southern District of New York, seeking declaratory and injunctive relief on the basis that the NYDFS’s interpretation of the New York Insurance Law is unconstitutional under the Due Process and Commerce Clauses, as well as the First Amendment, of the U.S. Constitution. Other Contingencies Liability for unpaid claims and claims adjustment expense Although we regularly review the adequacy of the established Liability for unpaid claims and claims adjustment expense, there can be no assurance that our loss reserves will not develop adversely and have a material adverse effect on our results of operations. Estimation of ultimate net losses, loss expenses and loss reserves is a complex process, particularly for long-tail casualty lines of business, which include, but are not limited to, general liability, commercial automobile liability, environmental, workers’ compensation, excess casualty and crisis management coverages, insurance and risk management programs for large corporate customers and other customized structured insurance products, as well as excess and umbrella liability, directors and officers and products liability. Generally, actual historical loss development factors are used to project future loss development. However, there can be no assurance that future loss development patterns will be the same as in the past. Moreover, any deviation in loss cost trends or in loss development factors might not be identified for an extended period of time subsequent to the recording of the initial loss reserve estimates for any accident year. There is the potential for reserves with respect to a number of years to be significantly affected by changes in loss cost trends or loss development factors that were relied upon in setting the reserves. These changes in loss cost trends or loss development factors could be attributable to changes in global economic conditions, changes in the legal, regulatory, judicial and social environment, changes in medical cost trends (inflation, intensity and utilization of medical services), underlying policy pricing, terms and conditions, and claims handling practices. Commitments Flight Equipment Related to Business Held-for-Sale At March 31, 2014, ILFC had committed to purchase 322 new aircraft with aggregate estimated total remaining payments of approximately $21 billion, which include 12 aircraft through sale-leaseback transactions with airlines, scheduled for delivery through 2022. ILFC had also committed to purchase 13 new spare engines. ILFC will be required to find lessees for any aircraft acquired and to arrange financing for a substantial portion of the purchase price. These commitments are related to businesses that are held-for-sale. See Note 4 for a discussion of the ILFC transaction. Other Commitments In the normal course of business, we enter into commitments to invest in limited partnerships, private equity funds and hedge funds and to purchase and develop real estate in the U.S. and abroad. These commitments totaled $2.6 billion at March 31, 2014. Guarantees Subsidiaries We have issued unconditional guarantees with respect to the prompt payment, when due, of all present and future payment obligations and liabilities of AIGFP and of AIG Markets arising from transactions entered into by AIG Markets. In connection with AIGFP’s business activities, AIGFP has issued, in a limited number of transactions, standby letters of credit or similar facilities to equity investors in an amount equal to the termination value owing to the equity investor by the lessee in the event of a lessee default (the equity termination value). The total amount outstanding at March 31, 2014 was $240 million. In those transactions, AIGFP has agreed to pay such amount if the lessee fails to pay. The amount payable by AIGFP is, in certain cases, partially offset by amounts payable under other instruments typically equal to the present value of scheduled payments to be made by AIGFP. In the event that AIGFP is required to make a payment to the equity investor, the lessee is unconditionally obligated to reimburse AIGFP. To the extent that the equity investor is paid the equity termination value from the standby letter of credit and/or other sources, including payments by the lessee, AIGFP takes an assignment of the equity investor’s rights under the lease of the underlying property. Because the obligations of the lessee under the lease transactions are generally economically defeased, lessee bankruptcy is the most likely circumstance in which AIGFP would be required to pay without reimbursement. Asset Dispositions General We are subject to financial guarantees and indemnity arrangements in connection with the completed sales of businesses pursuant to our asset disposition plan. The various arrangements may be triggered by, among other things, declines in asset values, the occurrence of specified business contingencies, the realization of contingent liabilities, developments in litigation or breaches of representations, warranties or covenants provided by us. These arrangements are typically subject to various time limitations, defined by the contract or by operation of law, such as statutes of limitation. In some cases, the maximum potential obligation is subject to contractual limitations, while in other cases such limitations are not specified or are not applicable. We are unable to develop a reasonable estimate of the maximum potential payout under certain of these arrangements. Overall, we believe that it is unlikely we will have to make any material payments related to completed sales under these arrangements, and no material liabilities related to these arrangements have been recorded in the Condensed Consolidated Balance Sheets. ALICO Sale Pursuant to the terms of the ALICO stock purchase agreement, we agreed to provide MetLife with certain indemnities. The most significant remaining indemnities include indemnifications related to specific product, investment, litigation and other matters that are excluded from the general representations and warranties indemnity. These indemnifications provide for various deductible amounts, which in certain cases are zero, and maximum exposures, which in certain cases are unlimited, and may extend for various periods after the completion of the sale. In connection with the indemnity obligations described above, approximately $19 million of proceeds from the sale of ALICO remained in escrow as of March 31, 2014. Other See Note 8 for commitments and guarantees associated with VIEs. See Note 9 for disclosures about derivatives. See Note 16 for additional disclosures about guarantees of outstanding debt.

EQUITY

3 Months Ended

Mar. 31, 2014

EQUITY

EQUITY

11. EQUITY

Shares Outstanding

The following table presents a rollforward of outstanding shares:

	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Three Months Ended March 31, 2014
Shares, beginning of year	1,906,645,689	(442,582,366)	1,464,063,323
Shares issued	9,951	-	9,951
Shares repurchased	-	(17,425,487)	(17,425,487)
Shares, end of period	1,906,655,640	(460,007,853)	1,446,647,787

Dividends

Payment of future dividends to our shareholders and repurchases of AIG Common Stock depends in part on the regulatory framework that we are currently subject to and that will ultimately be applicable to us, including as a non-bank systemically important financial institution under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) and a global systemically important insurer. In addition, dividends are payable on AIG Common Stock only when, as and if declared by our Board of Directors in its discretion, from funds legally available therefor. In considering whether to pay a dividend or purchase shares of AIG Common Stock, our Board of Directors considers a number of factors, including, but not limited to: the capital resources available to support our core insurance operations and business strategies, AIG’s funding capacity and capital resources in comparison to internal benchmarks, expectations for capital generation, rating agency expectations for capital, regulatory standards for capital and capital distributions, and such other factors as our Board of Directors may deem relevant.

On March 25, 2014, AIG paid a dividend of $0.125 per share on AIG Common Stock to shareholders of record on March 11, 2014.

See Note 19 to the Consolidated Financial Statements in the 2013 Annual Report for a discussion of restrictions on payments of dividends to AIG Parent by its subsidiaries.

Repurchase of AIG Common Stock

On August 1, 2013, our Board of Directors authorized the repurchase of shares of AIG Common Stock, with an aggregate purchase price of up to $1.0 billion, from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise.

On February 13, 2014, our Board of Directors authorized an increase to the August 1, 2013 repurchase authorization of AIG Common Stock by $1.0 billion, resulting in an aggregate remaining authorization at such time of approximately $1.4 billion of AIG Common Stock. During the three months ended March 31, 2014, we repurchased approximately 17.4 million shares of AIG Common Stock for an aggregate purchase price of approximately $867 million pursuant to this authorization, resulting in a remaining authorization of approximately $537 million at March 31, 2014. The timing of any future repurchases will depend on market conditions, our financial condition, results of operations, liquidity and other factors.

Accumulated Other Comprehensive Income

The following table presents a rollforward of Accumulated other comprehensive income:

		Unrealized Appreciation
		(Depreciation) of Fixed
		Maturity Investments		Unrealized Appreciation (Depreciation) of All Other Investments		Foreign Currency Translation Adjustments		Change in Retirement Plan Liabilities Adjustment
		on Which Other-Than-
		Temporary Credit
(in millions)		investments								Total
Balance, December 31, 2013, net of tax	$	936	$	6,789	$	(952)	$	(413)	$	6,360
Change in unrealized appreciation of investments		136		3,803		-		-		3,939
Change in deferred acquisition costs adjustment and other		32		(256)		-		-		(224)
Change in future policy benefits		(87)		(588)		-		-		(675)
Change in foreign currency translation adjustments		-		-		(102)		-		(102)
Net actuarial gain		-		-		-		14		14
Prior service cost		-		-		-		(12)		(12)
Change in deferred tax asset (liability)		8		(174)		(56)		7		(215)
Total other comprehensive income (loss)		89		2,785		(158)		9		2,725
Noncontrolling interests		-		-		-		-		-
Balance, March 31, 2014, net of tax	$	1,025	$	9,574	$	(1,110)	$	(404)	$	9,085

Balance, December 31, 2012, net of tax	$	575	$	13,446	$	(403)	$	(1,044)	$	12,574
Change in unrealized appreciation (depreciation) of investments		414		(1,607)		-		-		(1,193)
Change in deferred acquisition costs adjustment and other		(2)		(309)		-		-		(311)
Change in future policy benefits		13		411		-		-		424
Change in foreign currency translation adjustments		-		-		(293)		-		(293)
Net actuarial gain		-		-		-		57		57
Prior service cost		-		-		-		(14)		(14)
Change in deferred tax asset (liability)		(143)		717		20		1		595
Total other comprehensive income (loss)		282		(788)		(273)		44		(735)
Noncontrolling interests		-		(1)		1		-		-
Balance, March 31, 2013, net of tax	$	857	$	12,659	$	(677)	$	(1,000)	$	11,839

The following table presents the other comprehensive income reclassification adjustments for the three month periods ended March 31, 2014 and 2013:

		Unrealized Appreciation
		(Depreciation) of Fixed
		Maturity Investments		Unrealized				Change in
		on Which Other-Than-		Appreciation		Foreign		Retirement
		Temporary Credit		(Depreciation)		Currency		Plan
		Impairments Were		of All Other		Translation		Liabilities
(in millions)		Recognized		Investments		Adjustments		Adjustment		Total
March 31, 2014
Unrealized change arising during period	$	89	$	3,188	$	(102)	$	1	$	3,176
Less: Reclassification adjustments
included in net income		8		229		-		(1)		236
Total other comprehensive income (loss),
before income tax expense (benefit)		81		2,959		(102)		2		2,940
Less: Income tax expense (benefit)		(8)		174		56		(7)		215
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	89	$	2,785	$	(158)	$	9	$	2,725

March 31, 2013
Unrealized change arising during period	$	474	$	(1,278)	$	(293)	$	18	$	(1,079)
Less: Reclassification adjustments
included in net income		49		227		-		(25)		251
Total other comprehensive income (loss),
before income tax expense (benefit)		425		(1,505)		(293)		43		(1,330)
Less: Income tax expense (benefit)		143		(717)		(20)		(1)		(595)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	282	$	(788)	$	(273)	$	44	$	(735)

The following table presents the effect of the reclassification of significant items out of Accumulated other comprehensive income on the respective line items in the Condensed Consolidated Statements of Income:

	Amount Reclassified
	from Accumulated Other
	Comprehensive Income
	Three Months Ended March 31,					Affected Line Item in the
(in millions)			2014		2013	Consolidated Statements of Income
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized

Investments		$	8	$	49	Other realized capital gains
Total			8		49
Unrealized appreciation (depreciation) of
all other investments
Investments			204		286	Other realized capital gains
Deferred acquisition costs adjustment			35		43	Amortization of deferred acquisition costs
Future policy benefits			(10)		(102)	Policyholder benefits and claims incurred
Total			229		227
Change in retirement plan liabilities adjustment
Prior-service costs			12		12	*
Actuarial gains/(losses)			(13)		(37)	*
Total			(1)		(25)
Total reclassifications for the period		$	236	$	251

* These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 14 to the Condensed Consolidated Financial Statements.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

NONCONTROLLING INTERESTS

3 Months Ended

Mar. 31, 2014

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS

12. NONCONTROLLING INTERESTS

The following table presents a rollforward of noncontrolling interests:

		Redeemable		Non-redeemable
		Noncontrolling		Noncontrolling
(in millions)		Interests		Interests
Three Months Ended March 31, 2014
Balance, beginning of year	$	30	$	611
Contributions from noncontrolling interests		1		5
Distributions to noncontrolling interests		-		(22)
Deconsolidation		(4)		(34)
Comprehensive income (loss):
Net income (loss)		-		3
Total comprehensive income (loss)		-		3
Other		-		(3)
Balance, end of period	$	27	$	560
Three Months Ended March 31, 2013
Balance, beginning of year	$	334	$	667
Contributions from noncontrolling interests		22		8
Distributions to noncontrolling interests		(17)		(19)
Consolidation (deconsolidation)		32		-
Comprehensive income:
Net income		15		10
Unrealized losses on investments		(1)		-
Foreign currency translation adjustments		2		(1)
Total other comprehensive
income (loss), net of tax		1		(1)
Total comprehensive income		16		9
Other		1		(2)
Balance, end of period	$	388	$	663

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References+ Details

EARNINGS PER SHARE (EPS)

3 Months Ended

Mar. 31, 2014

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)

13. EARNINGS PER SHARE (EPS)

The basic EPS computation is based on the weighted average number of common shares outstanding, adjusted to reflect all stock dividends and stock splits. The diluted EPS computation is based on those shares used in the basic EPS computation plus shares that would have been outstanding assuming issuance of common shares for all dilutive potential common shares outstanding, and adjusted to reflect all stock dividends and stock splits.

The following table presents the computation of basic and diluted EPS:

Three Months Ended March 31,
(dollars in millions, except per share data)		2014		2013
Numerator for EPS:
Income from continuing operations	$	1,659	$	2,158
Less: Net income from continuing operations attributable to noncontrolling interests		3		25
Income attributable to AIG common shareholders from continuing operations		1,656		2,133
Income (loss) from discontinued operations		(47)		73
Net income attributable to AIG common shareholders	$	1,609	$	2,206
Denominator for EPS:
Weighted average shares outstanding — basic		1,459,249,393		1,476,471,097
Dilutive shares		13,261,420		207,834
Weighted average shares outstanding — diluted^*		1,472,510,813		1,476,678,931
Income per common share attributable to AIG:
Basic:
Income from continuing operations	$	1.13	$	1.44
Income (loss) from discontinued operations	$	(0.03)	$	0.05
Net Income attributable to AIG	$	1.10	$	1.49
Diluted:
Income from continuing operations	$	1.12	$	1.44
Income (loss) from discontinued operations	$	(0.03)	$	0.05
Net Income attributable to AIG	$	1.09	$	1.49

* Dilutive shares are calculated using the treasury stock method and include dilutive shares from share-based employee compensation plans, a weighted average portion of the warrants issued to AIG shareholders as part of the recapitalization in January 2011 and a weighted average portion of the warrants issued to the Department of the Treasury in 2009 that we repurchased in the first quarter of 2013. The number of shares excluded from diluted shares outstanding were 0.3 million and 77 million for the three month periods ended March 31, 2014 and 2013, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

- Definition

The entire disclosure for earnings per share.

+ References+ Details

EMPLOYEE BENEFITS

3 Months Ended

Mar. 31, 2014

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS

14. EMPLOYEE BENEFITS

The following table presents the components of net periodic benefit cost with respect to pensions and other postretirement benefits:

	Pension						Postretirement
		U.S.		Non-U.S.				U.S.		Non-U.S.
(in millions)		Plans		Plans		Total		Plans		Plans		Total
Three Months Ended March 31, 2014
Components of net periodic benefit cost:
Service cost	$	44	$	11	$	55	$	1	$	-	$	1
Interest cost		57		7		64		2		1		3
Expected return on assets		(71)		(6)		(77)		-		-		-
Amortization of prior service (credit) cost		(8)		(1)		(9)		(2)		-		(2)
Amortization of net (gain) loss		11		2		13		-		-		-
Net periodic benefit cost	$	33	$	13	$	46	$	1	$	1	$	2
Three Months Ended March 31, 2013
Components of net periodic benefit cost:
Service cost	$	44	$	13	$	57	$	1	$	1	$	2
Interest cost		49		8		57		2		-		2
Expected return on assets		(65)		(5)		(70)		-		-		-
Amortization of prior service (credit) cost		(8)		(1)		(9)		(3)		-		(3)
Amortization of net (gain) loss		33		3		36		1		-		1
Curtailment (gain) loss		-		(1)		(1)		-		-		-
Net periodic benefit cost	$	53	$	17	$	70	$	1	$	1	$	2

For the three month period ended March 31, 2014, we contributed $50 million to our U.S. and non-U.S. pension plans and estimate that we will contribute an additional $127 million for the remainder of 2014. These estimates are subject to change because contribution decisions are affected by various factors, including our liquidity, market performance and management discretion.

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2014
INCOME TAXES
INCOME TAXES	15. INCOME TAXES Interim Tax Calculation Method We use the estimated annual effective tax rate method in computing our interim tax provision. Certain items, including those deemed to be unusual, infrequent or that cannot be reliably estimated, are excluded from the estimated annual effective tax rate. In these cases, the actual tax expense or benefit is reported in the same period as the related item. Certain tax effects are also not reflected in the estimated annual effective tax rate, primarily certain changes in the realizability of deferred tax assets and uncertain tax positions. Interim Tax Expense (Benefit) For the three month period ended March 31, 2014, the effective tax rate on income from continuing operations was 27.0 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits associated with tax exempt interest income and a decrease in AIG Life and Retirement’s capital loss carryforward valuation allowance from realized gains on sales of available-for-sale securities. For the three month period ended March 31, 2013, the effective tax rate on income from continuing operations was 24.9 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits associated with tax exempt interest income and a decrease in the AIG Life and Retirement’s capital loss carryforward valuation allowance related to the actual and projected gains on sales of AIG Life and Retirement’s available-for-sale securities. These items were partially offset by changes in uncertain tax positions. Assessment of Deferred Tax Asset Valuation Allowance The evaluation of the recoverability of our deferred tax asset and the need for a valuation allowance requires us to weigh all positive and negative evidence to reach a conclusion that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The weight given to the evidence is commensurate with the extent to which it can be objectively verified. The more negative evidence that exists, the more positive evidence is necessary and the more difficult it is to support a conclusion that a valuation allowance is not needed. Our framework for assessing the recoverability of the deferred tax asset requires us to consider all available evidence, including: the nature, frequency, and amount of cumulative financial reporting income and losses in recent years; the sustainability of recent operating profitability of our subsidiaries; the predictability of future operating profitability of the character necessary to realize the net deferred tax asset; the carryforward period for the net operating loss, capital loss and foreign tax credit carryforwards, including the effect of reversing taxable temporary differences; and prudent and feasible actions and tax planning strategies that would be implemented, if necessary, to protect against the loss of the deferred tax asset. As a result of sales in the ordinary course of business to manage our investment portfolio, the implementation of prudent and feasible tax planning strategies and changes in market conditions, during the three month period ended March 31, 2014, certain AIG Life and Retirement capital loss carryforwards were realized prior to their expiration. For the three month period ended March 31, 2014, we recognized a $954 million decrease to our deferred tax asset valuation allowance associated with AIG Life and Retirement’s capital loss carryforwards and unrealized tax losses in AIG Life and Retirement’s available for sale portfolio, of which $62 million was allocated to income from continuing operations and $892 million was allocated to other comprehensive income. Additional AIG Life and Retirement’s capital loss carryforwards may be realized in the future if and when other prudent and feasible tax planning strategies are identified. Changes in market conditions, including rising interest rates, may result in a reduction in projected taxable gains and an increase to certain deferred tax asset valuation allowances. Tax Examinations and Litigation On March 29, 2013, the U.S District Court for the Southern District of New York denied our motion for partial summary judgment related to the disallowance of foreign tax credits associated with cross border financing transactions. On March 17, 2014, the U.S. Court of Appeals for the Second Circuit (the Second Circuit) granted our petition for an immediate appeal of the partial summary judgment decision. Accordingly, we will now present our position to the Second Circuit. We will vigorously defend our position and continue to believe that we have adequate reserves for any liability that could result from the IRS actions. We continue to monitor legal and other developments in this area and evaluate the effect, if any, on our position, including recent decisions adverse to other taxpayers. Accounting for Uncertainty in Income Taxes At March 31, 2014 and December 31, 2013, our unrecognized tax benefits, excluding interest and penalties, were $4.4 billion and $4.3 billion, respectively. At both March 31, 2014 and December 31, 2013, our unrecognized tax benefits included $0.1 billion related to tax positions that if recognized would not affect the effective tax rate because they relate to the timing, rather than the permissibility, of the deduction. Accordingly, at March 31, 2014 and December 31, 2013, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $4.3 billion and $4.2 billion, respectively. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At both March 31, 2014 and December 31, 2013, we had accrued liabilities of $1.1 billion for the payment of interest (net of the federal benefit) and penalties. For the three month periods ended March 31, 2014 and 2013, we accrued expense of $20 million and $157 million, respectively, for the payment of interest (net of the federal benefit) and penalties. We regularly evaluate adjustments proposed by taxing authorities. At March 31, 2014, such proposed adjustments would not have resulted in a material change to our consolidated financial condition, although it is possible that the effect could be material to our consolidated results of operations for an individual reporting period. Although it is reasonably possible that a change in the balance of unrecognized tax benefits may occur within the next 12 months, based on the information currently available, we do not expect any change to be material to our consolidated financial condition.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

3 Months Ended

Mar. 31, 2014

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

16. INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

The following condensed consolidating financial statements reflect the results of AIG Life Holdings, Inc. (AIGLH), a holding company and a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of all outstanding debt of AIGLH.

Condensed Consolidating Balance Sheets

		American
		International					Reclassifications
		Group, Inc.				Other		and	Consolidated
(in millions)	(As Guarantor)		AIGLH			Subsidiaries		Eliminations		AIG
March 31, 2014
Assets:
Short-term investments	$	10,249	$	-	$	9,029	$	(1,620)	$	17,658
Other investments^(a)		7,145		-		332,732		-		339,877
Total investments		17,394		-		341,761		(1,620)		357,535
Cash		60		9		2,421		-		2,490
Loans to subsidiaries^(b)		31,013		-		735		(31,748)		-
Investment in consolidated subsidiaries^(b)		69,439		39,574		-		(109,013)		-
Other assets, including deferred income taxes		23,726		206		134,139		(1,752)		156,319
Assets held for sale		-		-		30,767		-		30,767
Total assets	$	141,632	$	39,789	$	509,823	$	(144,133)	$	547,111
Liabilities:
Insurance liabilities	$	-	$	-	$	273,598	$	-	$	273,598
Long-term debt		28,657		1,352		9,499		-		39,508
Other liabilities, including intercompany balances^(a)(c)		8,334		96		98,686		(3,346)		103,770
Loans from subsidiaries^(b)		808		100		30,933		(31,841)		-
Liabilities held for sale		-		-		25,815		-		25,815
Total liabilities		37,799		1,548		438,531		(35,187)		442,691
Redeemable noncontrolling interests (see Note 12)		-		-		27		-		27
Total AIG shareholders’ equity		103,833		38,241		70,705		(108,946)		103,833
Non-redeemable noncontrolling interests		-		-		560		-		560
Total equity		103,833		38,241		71,265		(108,946)		104,393
Total liabilities and equity	$	141,632	$	39,789	$	509,823	$	(144,133)	$	547,111
December 31, 2013
Assets:
Short-term investments	$	11,965	$	-	$	11,404	$	(1,752)	$	21,617
Other investments^(a)		7,561		-		327,250		-		334,811
Total investments		19,526		-		338,654		(1,752)		356,428
Cash		30		51		2,160		-		2,241
Loans to subsidiaries^(b)		31,220		-		854		(32,074)		-
Investment in consolidated subsidiaries^(b)		66,201		39,103		-		(105,304)		-
Other assets, including deferred income taxes		21,606		112		132,492		(1,086)		153,124
Assets held for sale		-		-		29,536		-		29,536
Total assets	$	138,583	$	39,266	$	503,696	$	(140,216)	$	541,329
Liabilities:
Insurance liabilities	$	-	$	-	$	271,252	$	-	$	271,252
Long-term debt		30,839		1,352		9,502		-		41,693
Other liabilities, including intercompany balances^(a)(c)		6,422		161		98,908		(2,766)		102,725
Loans from subsidiaries^(b)		852		200		31,173		(32,225)		-
Liabilities held for sale		-		-		24,548		-		24,548
Total liabilities		38,113		1,713		435,383		(34,991)		440,218
Redeemable noncontrolling interests (see Note 12)		-		-		30		-		30
Total AIG shareholders’ equity		100,470		37,553		67,672		(105,225)		100,470
Non-redeemable noncontrolling interests		-		-		611		-		611
Total equity		100,470		37,553		68,283		(105,225)		101,081
Total liabilities and equity	$	138,583	$	39,266	$	503,696	$	(140,216)	$	541,329

(a) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment.

(b) Eliminated in consolidation.

(c) For March 31, 2014 and December 31, 2013, includes intercompany tax payable of $2.7 billion and $1.4 billion, respectively, and intercompany derivative liabilities of $246 million and $249 million, respectively, for American International Group, Inc. (As Guarantor) and intercompany tax receivable (payable) of $ (19) million and $98 million, respectively, for AIGLH.

Condensed Consolidating Statements of Income


		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended March 31, 2014
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,985	$	730	$	-	$	(2,715)	$	-
Other income		224		-		16,000		(112)		16,112
Total revenues		2,209		730		16,000		(2,827)		16,112
Expenses:
Interest expense		422		29		61		(33)		479
Loss on extinguishment of debt		288		-		-		(50)		238
Other expenses		242		1		12,918		(39)		13,122
Total expenses		952		30		12,979		(122)		13,839
Income (loss) from continuing operations before income tax
expense (benefit)		1,257		700		3,021		(2,705)		2,273
Income tax expense (benefit)		(349)		(144)		1,126		(19)		614
Income (loss) from continuing operations		1,606		844		1,895		(2,686)		1,659
Income (loss) from discontinued operations, net of income taxes		3		-		(50)		-		(47)
Net income (loss)		1,609		844		1,845		(2,686)		1,612
Less:
Total net income attributable to
noncontrolling interests		-		-		3		-		3
Net income (loss) attributable to AIG	$	1,609	$	844	$	1,842	$	(2,686)	$	1,609
Three Months Ended March 31, 2013
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,891	$	670	$	-	$	(2,561)	$	-
Other income		294		-		16,737		(69)		16,962
Total revenues		2,185		670		16,737		(2,630)		16,962
Expenses:
Interest expense		528		36		82		(69)		577
Loss on extinguishment of debt		269		-		71		-		340
Other expenses		258		71		12,841		-		13,170
Total expenses		1,055		107		12,994		(69)		14,087
Income (loss) from continuing operations before income tax
expense (benefit)		1,130		563		3,743		(2,561)		2,875
Income tax expense (benefit)		(1,080)		(11)		1,808		-		717
Income (loss) from continuing operations		2,210		574		1,935		(2,561)		2,158
Income (loss) from discontinued operations, net of income taxes		(4)		-		77		-		73
Net income (loss)		2,206		574		2,012		(2,561)		2,231
Less:
Net income from continuing operations attributable to
noncontrolling interests:
Other		-		-		25		-		25
Total net income attributable to noncontrolling interests		-		-		25		-		25
Net income (loss) attributable to AIG	$	2,206	$	574	$	1,987	$	(2,561)	$	2,206

* Eliminated in consolidation.

Condensed Consolidating Statements of Comprehensive Income

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended March 31, 2014
Net income (loss)	$	1,609	$	844	$	1,845	$	(2,686)	$	1,612
Other comprehensive income (loss)		2,725		1,494		1,849		(3,343)		2,725
Comprehensive income (loss)		4,334		2,338		3,694		(6,029)		4,337
Total comprehensive income attributable to noncontrolling interests		-		-		3		-		3
Comprehensive income (loss) attributable to AIG	$	4,334	$	2,338	$	3,691	$	(6,029)	$	4,334
Three Months Ended March 31, 2013
Net income (loss)	$	2,206	$	574	$	2,012	$	(2,561)	$	2,231
Other comprehensive income (loss)		(735)		(639)		(920)		1,559		(735)
Comprehensive income (loss)		1,471		(65)		1,092		(1,002)		1,496
Total comprehensive income attributable to noncontrolling interests		-		-		25		-		25
Comprehensive income (loss) attributable to AIG	$	1,471	$	(65)	$	1,067	$	(1,002)	$	1,471

Condensed Consolidating Statements of Cash Flows

		American				Other
		International				Subsidiaries
		Group, Inc.				and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Eliminations		AIG
Three Months Ended March 31, 2014
Net cash (used in) provided by operating activities		875		1,711		(1,823)		763
Cash flows from investing activities:
Sales of investments		430		-		14,813		15,243
Purchase of investments		(38)		-		(14,260)		(14,298)
Loans to subsidiaries – net		295		-		(295)		-
Contributions to subsidiaries – net		40		-		(40)		-
Net change in restricted cash		(6)		-		(661)		(667)
Net change in short-term investments		2,027		-		1,561		3,588
Other, net		(16)		-		(67)		(83)
Net cash provided by investing activities		2,732		-		1,051		3,783
Cash flows from financing activities:
Issuance of long-term debt		-		-		1,583		1,583
Repayments of long-term debt		(2,196)		-		(1,085)		(3,281)
Purchase of Common Stock		(867)		-		-		(867)
Intercompany loans - net		(47)		(100)		147		-
Cash dividends paid		(182)		(1,653)		1,653		(182)
Other, net		(285)		-		(1,257)		(1,542)
Net cash (used in) provided by financing activities		(3,577)		(1,753)		1,041		(4,289)
Effect of exchange rate changes on cash		-		-		(11)		(11)
Change in cash		30		(42)		258		246
Cash at beginning of year		30		51		2,160		2,241
Reclassification to assets held for sale		-		-		3		3
Cash at end of period	$	60	$	9	$	2,421	$	2,490

Three Months Ended March 31, 2013
Net cash (used in) provided by operating activities		(606)		1,243		(786)		(149)
Cash flows from investing activities:
Sales of investments		212		-		16,932		17,144
Purchase of investments		(2,448)		-		(16,214)		(18,662)
Loans to subsidiaries – net		1,710		-		(1,710)		-
Contributions to subsidiaries – net		(30)		-		30		-
Net change in restricted cash		-		-		296		296
Net change in short-term investments		3,255		-		2,224		5,479
Other, net		179		-		(472)		(293)
Net cash provided by investing activities		2,878		-		1,086		3,964
Cash flows from financing activities:
Issuance of long-term debt		-		-		1,395		1,395
Repayments of long-term debt		(2,149)		(245)		(1,943)		(4,337)
Intercompany loans - net		97		(93)		(4)		-
Purchase of common stock		-		-		-		-
Cash dividends paid to shareholders		-		(978)		978		-
Other, net		(243)		-		(533)		(776)
Net cash (used in) financing activities		(2,295)		(1,316)		(107)		(3,718)
Effect of exchange rate changes on cash		-		-		(36)		(36)
Change in cash		(23)		(73)		157		61
Cash at beginning of year		81		73		997		1,151
Change in cash of businesses held for sale		-		-		15		15
Cash at end of period	$	58	$	-	$	1,169	$	1,227

Supplementary Disclosure of Condensed Consolidating Cash Flow Information

		American				Other
		International				Subsidiaries
		Group, Inc.				and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Eliminations		AIG
Cash (paid) received during the 2014 period for:
Interest:
Third party	$	(363)	$	(41)	$	(436)	$	(840)
Intercompany		(1)		(4)		5		-
Taxes:
Income tax authorities	$	(3)	$	-	$	(162)	$	(165)
Intercompany		289		-		(289)		-
Cash (paid) received during the 2013 period for:
Interest:
Third party	$	(434)	$	(44)	$	(505)	$	(983)
Intercompany		(4)		(13)		17		-
Taxes:
Income tax authorities	$	-	$	-	$	(103)	$	(103)
Intercompany		210		(78)		(132)		-

American International Group, Inc. (As Guarantor) supplementary disclosure of non-cash activities:

Three Months Ended March 31,
(in millions)		2014		2013
Intercompany non-cash financing and investing activities:
Capital contributions
to subsidiaries through forgiveness of loans	$	993	$	-
Other capital contributions - net		-		118

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2014
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	17. SUBSEQUENT EVENTS Debt Redemption On May 5, 2014, AIG further reduced DIB debt through a redemption of $750 million aggregate principal amount of its 3.000% Notes due 2015 using cash allocated to the DIB. Dividends Declared On May 5, 2014, our Board of Directors declared a cash dividend on AIG Common Stock of $0.125 per share, payable on June 24, 2014 to shareholders of record on June 10, 2014. The payment of any future dividends will be at the discretion of our Board of Directors and will depend on various factors, including the regulatory framework applicable to us. See Note 11 for further discussion.

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 31, 2014
BASIS OF PRESENTATION
Sale of ILFC	Sale of ILFC On December 16, 2013, we entered into a definitive agreement with AerCap Holdings N.V. (AerCap) and AerCap Ireland Limited (Purchaser), a wholly-owned subsidiary of AerCap, for the sale of 100 percent of the common stock of International Lease Finance Corporation (ILFC) (the AerCap Transaction) for consideration consisting of $3.0 billion in cash, a portion of which will be funded by a special dividend of $600 million to be paid by ILFC to AIG upon consummation of the AerCap Transaction, and approximately 97.6 million newly-issued AerCap common shares. The disposition of the AerCap common shares by AIG will be subject to certain restrictions as to the amount and timing of potential sales in accordance with the definitive agreement. ILFC’s results are reflected in Aircraft leasing revenue and Aircraft leasing expenses in the Condensed Consolidated Statements of Income. The assets and liabilities of ILFC are classified as held-for-sale at March 31, 2014 and December 31, 2013 in the Condensed Consolidated Balance Sheets. See Note 4 herein for further discussion.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involve a significant degree of judgment. Accounting policies that we believe are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of: classification of ILFC as held-for-sale and related fair value measurement; income tax assets and liabilities, including recoverability of our net deferred tax asset and the predictability of future tax operating profitability of the character necessary to realize the net deferred tax asset; liability for unpaid claims and claims adjustment expense; reinsurance assets; valuation of future policy benefit liabilities and timing and extent of loss recognition; valuation of liabilities for guaranteed benefit features of variable annuity products; estimated gross profits to value deferred acquisition costs for investment-oriented products; impairment charges, including other-than-temporary impairments on available for sale securities, impairments on investments in life settlements and goodwill impairment; liability for legal contingencies; and fair value measurements of certain financial assets and liabilities. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2014
New Accounting Pronouncements or Change in Accounting Principle
Future Application of Accounting Standards	Future Application of Accounting Standards Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure In January 2014, the FASB issued an accounting standard that clarifies when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, so that the loan is derecognized and the real estate property is recognized. We plan to adopt the standard on its required effective date of January 1, 2015 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows.
Reporting Discontinued Operations	Reporting Discontinued Operations In April 2014, the FASB issued an accounting standard that changes the requirements for presenting a component or group of components of an entity as a discontinued operation and requires new disclosures. Under the standard, the disposal of a component or group of components of an entity should be reported as a discontinued operation if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Disposals of equity method investments, or those reported as held-for-sale, will be eligible for presentation as a discontinued operation if they meet the new definition. The standard also requires entities to provide specified disclosures about a disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation. The standard is effective prospectively for all disposals of components (or classification of components as held-for-sale) of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications of components as held-for-sale) that have not been reported in financial statements previously issued. We plan to adopt the standard on its required effective date of January 1, 2015 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows.
2014
New Accounting Pronouncements or Change in Accounting Principle
Accounting Standards Adopted	Accounting Standards Adopted During 2014 Certain Obligations Resulting from Joint and Several Liability Arrangements In February 2013, the Financial Accounting Standards Board (FASB) issued an accounting standard that requires us to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of (i) the amount we agreed to pay on the basis of our arrangement among our co-obligors and (ii) any additional amount we expect to pay on behalf of our co-obligors. We adopted the standard on its required effective date of January 1, 2014. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of an Investment within a Foreign Entity or of an Investment in a Foreign Entity In March 2013, the FASB issued an accounting standard addressing whether consolidation guidance or foreign currency guidance applies to the release of the cumulative translation adjustment into net income when a parent sells all or a part of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or net assets that are a business (other than a sale of in-substance real estate) within a foreign entity. The standard also resolves the diversity in practice for the cumulative translation adjustment treatment in business combinations achieved in stages involving foreign entities. Under this standard, the entire amount of the cumulative translation adjustment associated with the foreign entity should be released into earnings when there has been: (i) a sale of a subsidiary or group of net assets within a foreign entity and the sale represents a complete or substantially complete liquidation of the foreign entity in which the subsidiary or the net assets had resided; (ii) a loss of a controlling financial interest in an investment in a foreign entity; or (iii) a change in accounting method from applying the equity method to an investment in a foreign entity to consolidating the foreign entity. We adopted the standard on its required effective date of January 1, 2014 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Investment Company Guidance In June 2013, the FASB issued an accounting standard that amends the criteria a company must meet to qualify as an investment company, clarifies the measurement guidance, and requires new disclosures for investment companies. An entity that is regulated by the Securities and Exchange Commission under the Investment Company Act of 1940 (the 1940 Act) qualifies as an investment company. Entities that are not regulated under the 1940 Act must have certain fundamental characteristics and must consider other characteristics to determine whether they qualify as investment companies. An entity’s purpose and design must be considered when making the assessment. An entity that no longer meets the requirements to be an investment company as a result of this standard should present the change in its status as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. An entity that is an investment company should apply the standard prospectively as an adjustment to opening net assets as of the effective date. The adjustment to net assets represents both the difference between the fair value and the carrying amount of the entity’s investments and any amount previously recognized in Accumulated other comprehensive income. We adopted the standard on its required effective date of January 1, 2014 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Presentation of Unrecognized Tax Benefits In July 2013, the FASB issued an accounting standard that requires a liability related to unrecognized tax benefits to be presented as a reduction to the related deferred tax asset for a net operating loss carryforward or a tax credit carryforward. When the carryforwards are not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the applicable jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit will be presented in the financial statements as a liability and will not be combined with the related deferred tax asset. We adopted the standard on its required effective date of January 1, 2014 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows.

- Definition

Disclosure of accounting policy for any discontinued operations. The results of operations of a component of an entity that either has been disposed of or is classified as held for sale is reported in discontinued operations if both: (a) the operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction and (b) the entity will not have any significant continuing involvement in the operations of the component after the disposal transaction. If the entity elects to allocate interest expense to a discontinued operation, it may disclose its accounting policy for this election and describe its method of allocation.

+ References+ Details

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2014

SEGMENT INFORMATION

Schedule of operations by reportable segment

	2014					2013
Three Months Ended March 31,			Pre-tax Income (Loss)					Pre-tax Income (Loss)
(in millions)		Total Revenues	from continuing operations			Total Revenues		from continuing operations
AIG Property Casualty
Commercial Insurance	$	5,642	$	713	$	5,773	$	1,041
Consumer Insurance		3,258		27		3,506		153
Other		766		569		689		420
Total AIG Property Casualty		9,666		1,309		9,968		1,614
AIG Life and Retirement
Retail		2,766		665		3,003		996
Institutional		1,585		567		1,737		574
Total AIG Life and Retirement		4,351		1,232		4,740		1,570
Other Operations
Mortgage Guaranty		249		77		231		44
Global Capital Markets		59		29		273		227
Direct Investment book		465		355		411		312
Corporate & Other		382		(824)		461		(1,008)
Aircraft Leasing		1,113		17		1,074		43
Consolidation and elimination		(8)		1		(9)		1
Total Other Operations		2,260		(345)		2,441		(381)
AIG Consolidation and elimination		(165)		77		(187)		72
Total AIG Consolidated	$	16,112	$	2,273	$	16,962	$	2,875

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2014

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Summary of assets and liabilities held for sale

		March 31,		December 31,
(in millions)		2014		2013
Assets:
Equity securities	$	4	$	3
Mortgage and other loans receivable, net		262		229
Flight equipment primarily under operating leases, net of accumulated depreciation		35,612		35,508
Short-term investments		1,626		658
Cash		84		88
Premiums and other receivables, net of allowance		343		318
Other assets		2,798		2,066
Assets held-for-sale		40,729		38,870
Less: Loss accrual		(9,962)		(9,334)
Total assets held-for-sale	$	30,767	$	29,536
Liabilities:
Other liabilities	$	3,082	$	3,127
Long-term debt		22,733		21,421
Total liabilities held-for-sale	$	25,815	$	24,548

Discontinued Operations [Member].

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Summary of income (loss) from discontinued operations

Three Months Ended March 31,
(in millions)		2014		2013
Revenues:
Gain (loss) on sale	$	(1)	$	117
Income from discontinued operations, before income tax expense		(1)		117
Income tax expense		46		44
Income (loss) from discontinued operations, net of income tax expense	$	(47)	$	73

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2014

FAIR VALUE MEASUREMENTS

Assets and liabilities measured at fair value on a recurring basis

March 31, 2014							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^*	Collateral			Total
Assets:
Bonds available for sale:
U.S. government and government sponsored entities	$	3	$	2,919	$	-	$	-	$	-	$	2,922
Obligations of states, municipalities and political subdivisions		-		28,547		2,042		-		-		30,589
Non-U.S. governments		629		21,238		17		-		-		21,884
Corporate debt		-		145,176		1,815		-		-		146,991
RMBS		-		21,540		15,764		-		-		37,304
CMBS		-		6,354		5,741		-		-		12,095
CDO/ABS		-		4,542		6,610		-		-		11,152
Total bonds available for sale		632		230,316		31,989		-		-		262,937
Other bond securities:
U.S. government and government sponsored entities		28		5,366		-		-		-		5,394
Obligations of states, municipalities and political subdivisions		-		122		-		-		-		122
Non-U.S. governments		-		2		-		-		-		2
Corporate debt		-		1,108		-		-		-		1,108
RMBS		-		1,282		1,069		-		-		2,351
CMBS		-		508		770		-		-		1,278
CDO/ABS		-		2,965		8,498		-		-		11,463
Total other bond securities		28		11,353		10,337		-		-		21,718
Equity securities available for sale:
Common stock		3,078		1		-		-		-		3,079
Preferred stock		-		28		-		-		-		28
Mutual funds		767		4		-		-		-		771
Total equity securities available for sale		3,845		33		-		-		-		3,878
Other equity securities		653		72		-		-		-		725
Other invested assets		24		2,853		5,990		-		-		8,867
Derivative assets:
Interest rate contracts		12		3,750		35		-		-		3,797
Foreign exchange contracts		-		37		-		-		-		37
Equity contracts		84		34		89		-		-		207
Commodity contracts		-		-		1		-		-		1
Credit contracts		-		-		41		-		-		41
Other contracts		-		-		36		-		-		36
Counterparty netting and cash collateral		-		-		-		(1,680)		(838)		(2,518)
Total derivative assets		96		3,821		202		(1,680)		(838)		1,601
Short-term investments		392		3,361		-		-		-		3,753
Separate account assets		69,216		3,377		-		-		-		72,593
Other assets		-		-		-		-		-		-
Total	$	74,886	$	255,186	$	48,518	$	(1,680)	$	(838)	$	376,072
Liabilities:
Policyholder contract deposits	$	-	$	66	$	765	$	-	$	-	$	831
Derivative liabilities:
Interest rate contracts		-		4,213		133		-		-		4,346
Foreign exchange contracts		-		254		-		-		-		254
Equity contracts		-		92		1		-		-		93
Commodity contracts		-		4		-		-		-		4
Credit contracts		-		-		1,226		-		-		1,226
Other contracts		-		26		145		-		-		171
Counterparty netting and cash collateral		-		-		-		(1,680)		(1,375)		(3,055)
Total derivative liabilities		-		4,589		1,505		(1,680)		(1,375)		3,039
Long-term debt		-		5,616		403		-		-		6,019
Other liabilities		87		451		-		-		-		538
Total	$	87	$	10,722	$	2,673	$	(1,680)	$	(1,375)	$	10,427

December 31, 2013							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^*	Collateral			Total
Assets:
Bonds available for sale:
U.S. government and government sponsored entities	$	133	$	3,062	$	-	$	-	$	-	$	3,195
Obligations of states, municipalities and political subdivisions		-		28,300		1,080		-		-		29,380
Non-U.S. governments		508		21,985		16		-		-		22,509
Corporate debt		-		143,297		1,255		-		-		144,552
RMBS		-		21,207		14,941		-		-		36,148
CMBS		-		5,747		5,735		-		-		11,482
CDO/ABS		-		4,034		6,974		-		-		11,008
Total bonds available for sale		641		227,632		30,001		-		-		258,274
Other bond securities:
U.S. government and government sponsored entities		78		5,645		-		-		-		5,723
Obligations of states, municipalities and political subdivisions		-		121		-		-		-		121
Non-U.S. governments		-		2		-		-		-		2
Corporate debt		-		1,169		-		-		-		1,169
RMBS		-		1,326		937		-		-		2,263
CMBS		-		509		844		-		-		1,353
CDO/ABS		-		3,158		8,834		-		-		11,992
Total other bond securities		78		11,930		10,615		-		-		22,623
Equity securities available for sale:
Common stock		3,218		-		1		-		-		3,219
Preferred stock		-		27		-		-		-		27
Mutual funds		408		2		-		-		-		410
Total equity securities available for sale		3,626		29		1		-		-		3,656
Other equity securities		750		84		-		-		-		834
Other invested assets		1		2,667		5,930		-		-		8,598
Derivative assets:
Interest rate contracts		14		3,716		41		-		-		3,771
Foreign exchange contracts		-		52		-		-		-		52
Equity contracts		151		106		49		-		-		306
Commodity contracts		-		-		1		-		-		1
Credit contracts		-		-		55		-		-		55
Other contracts		-		1		33		-		-		34
Counterparty netting and cash collateral		-		-		-		(1,734)		(820)		(2,554)
Total derivative assets		165		3,875		179		(1,734)		(820)		1,665
Short-term investments		332		5,981		-		-		-		6,313
Separate account assets		67,708		3,351		-		-		-		71,059
Other assets		-		418		-		-		-		418
Total	$	73,301	$	255,967	$	46,726	$	(1,734)	$	(820)	$	373,440
Liabilities:
Policyholder contract deposits	$	-	$	72	$	312	$	-	$	-	$	384
Derivative liabilities:
Interest rate contracts		-		3,661		141		-		-		3,802
Foreign exchange contracts		-		319		-		-		-		319
Equity contracts		-		101		-		-		-		101
Commodity contracts		-		5		-		-		-		5
Credit contracts		-		-		1,335		-		-		1,335
Other contracts		-		25		142		-		-		167
Counterparty netting and cash collateral		-		-		-		(1,734)		(1,484)		(3,218)
Total derivative liabilities		-		4,111		1,618		(1,734)		(1,484)		2,511
Long-term debt		-		6,377		370		-		-		6,747
Other liabilities		42		891		-		-		-		933
Total	$	42	$	11,451	$	2,300	$	(1,734)	$	(1,484)	$	10,575

* Represents netting of derivative exposures covered by a qualifying master netting agreement.

Changes in Level 3 recurring fair value measurements

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period^(a)		in Income		Income (Loss)		Settlements, Net		in		out		of Period		at End of Period
Three Months Ended March 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	1,080	$	-	$	117	$	846	$	-	$	(1)	$	2,042	$	-
Non-U.S. governments		16		-		(1)		2		-		-		17		-
Corporate debt		1,255		(3)		20		4		648		(109)		1,815		-
RMBS		14,941		244		133		557		-		(111)		15,764		-
CMBS		5,735		6		111		(50)		(1)		(60)		5,741		-
CDO/ABS		6,974		34		2		8		66		(474)		6,610		-
Total bonds available for sale		30,001		281		382		1,367		713		(755)		31,989		-
Other bond securities:
RMBS		937		28		-		104		-		-		1,069		16
CMBS		844		17		-		(91)		-		-		770		14
CDO/ABS		8,834		335		-		(449)		1		(223)		8,498		166
Total bond trading securities		10,615		380		-		(436)		1		(223)		10,337		196
Equity securities available for sale:
Common stock		1		-		-		-		-		(1)		-		-
Preferred stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		1		-		-		-		-		(1)		-		-
Other invested assets		5,930		-		(1)		-		-		(5,928)		1		-
Total	$	46,547	$	661	$	381	$	931	$	714	$	(6,907)	$	42,327	$	196
Liabilities:
Policyholder contract deposits	$	(312)	$	(404)	$	(8)	$	(40)	$	-	$	-	$	(764)	$	(82)
Interest rate contracts		(100)		(6)		-		9		-		(1)		(98)		(1)
Equity contracts		49		(3)		-		(5)		47		-		88		(6)
Commodity contracts		1		-		-		-		-		-		1		-
Credit contracts		(1,280)		80		-		16		-		(1)		(1,185)		94
Other contracts		(109)		16		(1)		(17)		3		-		(108)		12
Total derivative liabilities, net		(1,439)		87		(1)		3		50		(2)		(1,302)		99
Long-term debt^(b)		(370)		(3)		-		19		-		(49)		(403)		7
Total	$	(2,121)	$	(320)	$	(9)	$	(18)	$	50	$	(51)	$	(2,469)	$	24
				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period^(a)		in Income		Income (Loss)		Settlements, Net		in		out		of Period		at End of Period
Three Months Ended March 31, 2013
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	1,024	$	1	$	(5)	$	136	$	-	$	(137)	$	1,019	$	-
Non-U.S. governments		14		1		-		2		1		-		18		-
Corporate debt		1,487		(4)		6		22		77		(139)		1,449		-
RMBS		11,662		205		481		(262)		10		-		12,096		-
CMBS		5,124		11		141		(75)		154		(40)		5,315		-
CDO/ABS		4,841		24		76		639		180		(183)		5,577		-
Total bonds available for sale		24,152		238		699		462		422		(499)		25,474		-
Other bond securities:
RMBS		396		22		-		74		238		-		730		(17)
CMBS		812		12		-		(99)		159		(108)		776		(25)
CDO/ABS		8,536		284		-		(436)		486		(28)		8,842		82
Total bond trading securities		9,744		318		-		(461)		883		(136)		10,348		40
Equity securities available for sale:
Common stock		24		9		(1)		(10)		-		-		22		-
Preferred stock		44		-		5		-		-		-		49		-
Total equity securities available for sale		68		9		4		(10)		-		-		71		-
Other invested assets		5,389		61		(13)		(3)		127		(94)		5,467		-
Total	$	39,353	$	626	$	690	$	(12)	$	1,432	$	(729)	$	41,360	$	40
Liabilities:
Policyholder contract deposits	$	(1,257)	$	205	$	-	$	5	$	-	$	-	$	(1,047)	$	28
Derivative liabilities, net:
Interest rate contracts		732		11		-		13		-		-		756		3
Equity contracts		47		28		-		(7)		(2)		-		66		12
Commodity contracts		1		1		-		(1)		-		-		1		-
Credit contracts		(1,991)		175		-		41		-		-		(1,775)		214
Other contracts		(162)		7		-		16		-		-		(139)		(12)
Total derivative liabilities, net		(1,373)		222		-		62		(2)		-		(1,091)		217
Long-term debt^(b)		(344)		(80)		-		19		(2)		-		(407)		(8)
Total	$	(2,974)	$	347	$	-	$	86	$	(4)	$	-	$	(2,545)	$	237

(a) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only.

(b) Purchases, Sales, Issues and Settlements, Net primarily reflect the effect of consolidating previously unconsolidated securitization vehicles.

Schedule of net realized and unrealized gains and losses related to Level 3 items

		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	Gains (Losses)			Income		Total
Three Months Ended March 31, 2014
Bonds available for sale	$	304	$	(36)	$	13	$	281
Other bond securities		51		1		328		380
Equity securities available for sale		-		-		-		-
Other invested assets		77		(4)		6		79
Policyholder contract deposits		-		(474)		-		(474)
Derivative liabilities, net		15		(3)		75		87
Long-term debt		-		-		(3)		(3)
Three Months Ended March 31, 2013
Bonds available for sale	$	210	$	7	$	21	$	238
Other bond securities		33		-		285		318
Equity securities available for sale		-		9		-		9
Other invested assets		47		(7)		21		61
Policyholder contract deposits		-		205		-		205
Derivative liabilities, net		-		22		200		222
Long-term debt		-		-		(80)		(80)

Gross components of purchases, sales, issuances and settlements, net

								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Three Months Ended March 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions^(b)	$	888	$	(5)	$	(37)	$	846
Non-U.S. governments		2		-		-		2
Corporate debt		56		(7)		(45)		4
RMBS		1,087		(15)		(515)		557
CMBS		65		(57)		(58)		(50)
CDO/ABS		330		-		(322)		8
Total bonds available for sale		2,428		(84)		(977)		1,367
Other bond securities:
RMBS		141		(5)		(32)		104
CMBS		-		(6)		(85)		(91)
CDO/ABS		21		(7)		(465)		(451)
Total other bond securities		162		(18)		(582)		(438)
Equity securities available for sale		-		-		-		-
Other invested assets		296		-		(247)		49
Total assets	$	2,886	$	(102)	$	(1,806)	$	978
Liabilities:
Policyholder contract deposits	$	-	$	(12)	$	41	$	29
Derivative liabilities, net		1		-		2		3
Long-term debt^(c)		-		-		19		19
Total liabilities	$	1	$	(12)	$	62	$	51
Three Months Ended March 31, 2013
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	158	$	(22)	$	-	$	136
Non-U.S. governments		3		-		(1)		2
Corporate debt		97		-		(75)		22
RMBS		603		(231)		(634)		(262)
CMBS		373		(146)		(302)		(75)
CDO/ABS		798		(159)		-		639
Total bonds available for sale		2,032		(558)		(1,012)		462
Other bond securities:
Corporate debt		-		-		-		-
RMBS		105		-		(31)		74
CMBS		19		(58)		(60)		(99)
CDO/ABS		188		-		(624)		(436)
Total other bond securities		312		(58)		(715)		(461)
Equity securities available for sale		1		(10)		(1)		(10)
Other invested assets		243		(30)		(216)		(3)
Total assets	$	2,588	$	(656)	$	(1,944)	$	(12)
Liabilities:
Policyholder contract deposits	$	-	$	(6)	$	11	$	5
Derivative liabilities, net		3		(4)		63		62
Long-term debt^(c)		-		-		19		19
Total liabilities	$	3	$	(10)	$	93	$	86

(a) There were no issuances during the three month periods ended March 31, 2014 and 2013.

(b) Purchases primarily reflect the effect of consolidating previously unconsolidated securitization vehicles.

Significant unobservable inputs used for recurring fair value measurements

	Fair Value at
	March 31,		Valuation		Range
(in millions)	2014		Technique	Unobservable Input	(Weighted Average )
Assets:

Obligations of states,	$	1,138	Discounted cash flow	Yield^(b)	4.44% - 5.30% (4.87%)
municipalities and
political subdivisions

Corporate debt		1,166	Discounted cash flow	Yield^(b)	2.87% - 8.28% (5.57%)


RMBS		16,252	Discounted cash flow	Constant prepayment rate^(a)(c)	0.00% - 10.13% (5.05%)
				Loss severity^(a)(c)	43.85% - 79.75% (61.80%)
				Constant default rate^(a)(c)	3.98% - 11.79% (7.89%)
				Yield^(c)	2.59% - 6.85% (4.72%)

Certain CDO/ABS		5,411	Discounted cash flow	Constant prepayment rate^(a)(c)	5.30% - 13.30% (9.50%)
				Loss severity^(a)(c)	46.40% - 61.30% (53.90%)
				Constant default rate^(a)(c)	2.90% - 15.60% (8.40%)
				Yield^(c)	5.00% - 10.80% (8.90%)

CMBS		6,017	Discounted cash flow	Yield^(b)	0.00% - 13.70% (5.09%)

CDO/ABS - Direct			Binomial Expansion	Recovery rate^(b)	5.00% - 61.00% (25.00%)
Investment book		565	Technique (BET)	Diversity score^(b)	6 - 29 (13.1)
				Weighted average life^(b)	1.30 - 10.50 years (5.30 years)
Liabilities:

Policyholder contract
deposits		765	Discounted cash flow	Equity implied volatility^(b)	6.00% - 39.00%
				Base lapse rate^(b)	1.00% - 40.00%
				Dynamic lapse rate^(b)	0.20% - 60.00%
				Mortality rate^(b)	0.50% - 40.00%
				Utilization rate^(b)	0.50% - 25.00%

Total derivative
liabilities, net		909	BET	Recovery rate^(b)	5.00% - 34.00% (17.00%)
				Diversity score^(b)	9 - 33 (14)
				Weighted average life^(b)	4.12 - 10.53 years (5.82 years)


		Fair Value at
		December 31,	Valuation		Range
(in millions)		2013	Technique	Unobservable Input	(Weighted Average )
Assets:

Obligations of states,	$	920	Discounted cash flow	Yield^(b)	4.94% - 5.86% (5.40%)
municipalities and
political subdivisions

Corporate debt		788	Discounted cash flow	Yield^(b)	0.00% - 14.29% (6.64%)


RMBS		14,419	Discounted cash flow	Constant prepayment rate^(a)(c)	0.00% - 10.35% (4.97%)
				Loss severity^(a)(c)	42.60% - 79.07% (60.84%)
				Constant default rate^(a)(c)	3.98% - 12.22% (8.10%)
				Yield^(c)	2.54% - 7.40% (4.97%)

Certain CDO/ABS		5,414	Discounted cash flow	Constant prepayment rate^(a)(c)	5.20% - 10.80% (8.20%)
				Loss severity^(a)(c)	48.60% - 63.40% (56.40%)
				Constant default rate^(a)(c)	3.20% - 16.20% (9.00%)
				Yield^(c)	5.20% - 11.50% (9.40%)

CMBS		5,847	Discounted cash flow	Yield^(b)	0.00% - 14.69% (5.58%)

CDO/ABS - Direct			Binomial Expansion	Recovery rate^(b)	6.00% - 63.00% (25.00%)
Investment book		557	Technique (BET)	Diversity score^(b)	5 - 35 (12)
				Weighted average life^(b)	1.07 - 9.47 years (4.86 years)
Liabilities:

Policyholder contract
deposits		312	Discounted cash flow	Equity implied volatility^(b)	6.00% - 39.00%
				Base lapse rate^(b)	1.00% - 40.00%
				Dynamic lapse rate^(b)	0.20% - 60.00%
				Mortality rate^(b)	0.50% - 40.00%
				Utilization rate^(b)	0.50% - 25.00%

Total derivative
liabilities, net		996	BET	Recovery rate^(b)	5.00% - 34.00% (17.00%)
				Diversity score^(b)	9 - 32 (13)
				Weighted average life^(b)	4.50 - 9.47 years (5.63 years)

(b) Represents discount rates, estimates and assumptions that we believe would be used by market participants when valuing these assets and liabilities.

Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share

		March 31, 2014				December 31, 2013
			Fair Value Using Net Asset Value Per Share (or its equivalent)				Fair Value Using Net Asset Value Per Share (or its equivalent)

					Unfunded				Unfunded
(in millions)	Investment Category Includes				Commitments				Commitments
Investment Category
Private equity funds:
Leveraged buyout	Debt and/or equity investments made as part of a transaction in which assets of mature companies are acquired from the current shareholders, typically with the use of financial leverage	$	2,511	$	548	$	2,544	$	578

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		424		275		346		86

Venture capital	Early-stage, high-potential, growth companies expected to generate a return through an eventual realization event, such as an initial public offering or sale of the company		133		11		140		13

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		179		33		183		34

Other	Includes multi-strategy and mezzanine strategies		161		225		134		238
Total private equity funds			3,408		1,092		3,347		949
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		1,197		2		976		2

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		2,026		8		1,759		11

Macro	Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions		438		-		612		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		623		14		594		15

Emerging markets	Investments in the financial markets of developing countries		292		-		287		-

Other	Includes multi-strategy and relative value strategies		172		-		157		-
Total hedge funds			4,748		24		4,385		28
Total		$	8,156	$	1,116	$	7,732	$	977

Gains or losses related to the eligible instruments for which AIG elected the fair value option

Three Months Ended March 31,	Gain (Loss)
(in millions)		2014		2013
Assets:
Mortgage and other loans receivable	$	-	$	1
Bond and equity securities		666		376
Alternative investments^(a)		154		84
Other, including Short-term investments		3		3
Liabilities:
Long-term debt^(b)		(74)		9
Other liabilities		(4)		(4)
Total gain	$	745	$	469

(a) Includes hedge funds, private equity funds and other investment partnerships.

(b) Includes GIAs, notes, bonds, loans and mortgages payable.

Difference between fair values and aggregate contractual principal amounts, fair value option

	March 31, 2014						December 31, 2013
			Outstanding						Outstanding
(in millions)	Fair Value		Principal Amount		Difference		Fair Value		Principal Amount		Difference
Liabilities:
Long-term debt^*	$	6,019	$	4,656	$	1,363	$	6,747	$	5,231	$	1,516

* Includes GIAs, notes, bonds, loans and mortgages payable.

Fair value assets measured on nonrecurring basis and impairment charges

		Assets at Fair Value							Impairment Charges
		Non-Recurring Basis							Three Months Ended March 31,
(in millions)		Level 1		Level 2		Level 3		Total		2014		2013
March 31, 2014
Other investments	$	-	$	-	$	1,510	$	1,510	$	35	$	36
Investments in life settlements		-		-		270		270		42		43
Other assets		-		-		1		1		1		31
Total	$	-	$	-	$	1,781	$	1,781	$	78	$	110
December 31, 2013
Other investments	$	-	$	-	$	1,615	$	1,615
Investments in life settlements		-		-		896		896
Other assets		-		11		48		59
Total	$	-	$	11	$	2,559	$	2,570

Carrying value and estimated fair value of AIG's financial instruments

	Estimated Fair Value									Carrying
(in millions)		Level 1		Level 2		Level 3		Total		Value
March 31, 2014
Assets:
Mortgage and other loans receivable	$	-	$	171	$	22,329	$	22,500	$	21,569
Other invested assets		-		573		2,727		3,300		4,245
Short-term investments		-		13,905		-		13,905		13,905
Cash		2,490		-		-		2,490		2,490
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		198		115,467		115,665		105,229
Other liabilities		-		3,418		-		3,418		3,418
Long-term debt		-		34,510		3,182		37,692		33,489
December 31, 2013
Assets:
Mortgage and other loans receivable	$	-	$	219	$	21,418	$	21,637	$	20,765
Other invested assets		-		529		2,705		3,234		4,194
Short-term investments		-		15,304		-		15,304		15,304
Cash		2,241		-		-		2,241		2,241
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		199		114,361		114,560		105,093
Other liabilities		-		4,869		1		4,870		4,869
Long-term debt		-		36,239		2,394		38,633		34,946

INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2014

INVESTMENTS

The amortized cost or cost and fair value of AIG's available for sale securities and other invested assets carried at fair value

										Other-Than-
		Amortized		Gross		Gross				Temporary
		Cost or		Unrealized		Unrealized		Fair		Impairments
(in millions)		Cost		Gains		Losses		Value		in AOCI^(a)
March 31, 2014
Bonds available for sale:
U.S. government and government sponsored entities	$	2,779	$	170	$	(27)	$	2,922	$	-
Obligations of states, municipalities and political subdivisions		29,402		1,384		(197)		30,589		(15)
Non-U.S. governments		21,317		826		(259)		21,884		-
Corporate debt		139,063		9,505		(1,577)		146,991		81
Mortgage-backed, asset-backed and collateralized:
RMBS		34,340		3,354		(390)		37,304		1,779
CMBS		11,661		637		(203)		12,095		168
CDO/ABS		10,638		649		(135)		11,152		40
Total mortgage-backed, asset-backed and collateralized		56,639		4,640		(728)		60,551		1,987
Total bonds available for sale^(b)		249,200		16,525		(2,788)		262,937		2,053
Equity securities available for sale:
Common stock		1,287		1,806		(14)		3,079		-
Preferred stock		25		4		(1)		28		-
Mutual funds		764		22		(15)		771		-
Total equity securities available for sale		2,076		1,832		(30)		3,878		-
Total	$	251,276	$	18,357	$	(2,818)	$	266,815	$	2,053
December 31, 2013
Bonds available for sale:
U.S. government and government sponsored entities	$	3,084	$	150	$	(39)	$	3,195	$	-
Obligations of states, municipalities and political subdivisions		28,704		1,122		(446)		29,380		(15)
Non-U.S. governments		22,045		822		(358)		22,509		-
Corporate debt		139,461		7,989		(2,898)		144,552		74
Mortgage-backed, asset-backed and collateralized:
RMBS		33,520		3,101		(473)		36,148		1,670
CMBS		11,216		558		(292)		11,482		125
CDO/ABS		10,501		649		(142)		11,008		62
Total mortgage-backed, asset-backed and collateralized		55,237		4,308		(907)		58,638		1,857
Total bonds available for sale^(b)		248,531		14,391		(4,648)		258,274		1,916
Equity securities available for sale:
Common stock		1,280		1,953		(14)		3,219		-
Preferred stock		24		4		(1)		27		-
Mutual funds		422		12		(24)		410		-
Total equity securities available for sale		1,726		1,969		(39)		3,656		-
Total	$	250,257	$	16,360	$	(4,687)	$	261,930	$	1,916

(b) At March 31, 2014 and December 31, 2013, bonds available for sale held by us that were below investment grade or not rated totaled $34.1 billion and $32.6 billion, respectively.

The fair value and gross unrealized losses on AIG's available for sale securities, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position

	Less than 12 Months				12 Months or More				Total
				Gross				Gross				Gross
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in millions)		Value		Losses		Value		Losses		Value		Losses
March 31, 2014
Bonds available for sale:
U.S. government and government sponsored entities	$	683	$	21	$	75	$	6	$	758	$	27
Obligations of states, municipalities and political
subdivisions		3,806		131		562		66		4,368		197
Non-U.S. governments		4,049		144		796		115		4,845		259
Corporate debt		25,341		938		6,649		639		31,990		1,577
RMBS		8,100		283		1,391		107		9,491		390
CMBS		2,447		115		1,115		88		3,562		203
CDO/ABS		2,426		56		1,096		79		3,522		135
Total bonds available for sale		46,852		1,688		11,684		1,100		58,536		2,788
Equity securities available for sale:
Common stock		102		14		-		-		102		14
Preferred stock		4		1		-		-		4		1
Mutual funds		317		15		-		-		317		15
Total equity securities available for sale		423		30		-		-		423		30
Total	$	47,275	$	1,718	$	11,684	$	1,100	$	58,959	$	2,818
December 31, 2013
Bonds available for sale:
U.S. government and government sponsored entities	$	1,101	$	34	$	42	$	5	$	1,143	$	39
Obligations of states, municipalities and political
subdivisions		6,134		379		376		67		6,510		446
Non-U.S. governments		4,102		217		710		141		4,812		358
Corporate debt		38,495		2,251		4,926		647		43,421		2,898
RMBS		8,543		349		1,217		124		9,760		473
CMBS		3,191		176		1,215		116		4,406		292
CDO/ABS		2,845		62		915		80		3,760		142
Total bonds available for sale		64,411		3,468		9,401		1,180		73,812		4,648
Equity securities available for sale:
Common stock		96		14		-		-		96		14
Preferred stock		5		1		-		-		5		1
Mutual funds		369		24		-		-		369		24
Total equity securities available for sale		470		39		-		-		470		39
Total	$	64,881	$	3,507	$	9,401	$	1,180	$	74,282	$	4,687

The amortized cost and fair value of fixed maturity securities available for sale by contractual maturity

	Total Fixed Maturity Securities				Fixed Maturity Securities in a Loss
March 31, 2014	Available for Sale				Position Available for Sale
(in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	10,275	$	10,455	$	830	$	817
Due after one year through five years		50,565		53,380		6,918		6,799
Due after five years through ten years		68,663		71,911		15,703		15,099
Due after ten years		63,058		66,640		20,570		19,246
Mortgage-backed, asset-backed and collateralized		56,639		60,551		17,303		16,575
Total	$	249,200	$	262,937	$	61,324	$	58,536

The gross realized gains and gross realized losses from sales of AIG's available for sale securities

		2014				2013
		Gross		Gross		Gross		Gross
Three Months Ended March 31,	Realized		Realized		Realized		Realized
(in millions)		Gains		Losses		Gains		Losses
Fixed maturity securities	$	216	$	31	$	371	$	71
Equity securities		30		2		37		3
Total	$	246	$	33	$	408	$	74

The fair value of AIG's other securities

		March 31, 2014				December 31, 2013
		Fair	Percent			Fair	Percent
(in millions)		Value	of Total			Value	of Total
Fixed maturity securities:
U.S. government and government sponsored entities	$	5,394	24	%	$	5,723	24	%
Obligations of states, municipalities and political subdivisions		122	1			121	1
Non-U.S. governments		2	-			2	-
Corporate debt		1,108	5			1,169	5
Mortgage-backed, asset-backed and collateralized:
RMBS		2,351	10			2,263	10
CMBS		1,278	6			1,353	6
CDO/ABS and other collateralized^*		11,456	51			11,985	51
Total mortgage-backed, asset-backed and collateralized		15,085	67			15,601	67
Other		7	-			7	-
Total fixed maturity securities		21,718	97			22,623	97
Equity securities		725	3			834	3
Total	$	22,443	100	%	$	23,457	100	%

* Includes $1.0 billion of U.S. Government agency backed ABS at both March 31, 2014 and December 31, 2013.

Components of net investment income

Three Months Ended March 31,
(in millions)		2014		2013
Fixed maturity securities, including short-term investments	$	3,131	$	3,045
Equity securities		(85)		37
Interest on mortgage and other loans		318		280
Alternative investments^*		925		866
Real estate		28		31
Other investments		11		53
Total investment income		4,328		4,312
Investment expenses		132		148
Net investment income	$	4,196	$	4,164

* Includes hedge funds, private equity funds, affordable housing partnerships, investments in life settlements and other investment partnerships.

Components of net realized capital gains (losses)

Three Months Ended March 31,
(in millions)		2014		2013
Sales of fixed maturity securities	$	185	$	300
Sales of equity securities		28		34
Other-than-temporary impairments:
Severity		-		(2)
Change in intent		(5)		(3)
Foreign currency declines		(4)		-
Issuer-specific credit events		(68)		(63)
Adverse projected cash flows		(1)		(6)
Provision for loan losses		5		(3)
Foreign exchange transactions		26		329
Derivative instruments		(350)		(271)
Impairments on investments in life settlements		(42)		(43)
Other		13		28
Net realized capital gains (losses)	$	(213)	$	300

Schedule of increase (decrease) in unrealized appreciation (depreciation) of available for sale securities and other investements

Three Months Ended March 31,
(in millions)		2014		2013
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	3,994	$	(1,152)
Equity securities		(128)		7
Other investments		73		(48)
Total increase (decrease) in unrealized appreciation (depreciation) of investments^*	$	3,939	$	(1,193)

* Excludes net unrealized gains attributable to businesses held for sale.

Credit impairments recognized in earnings for available for sale fixed maturity securities

Three Months Ended March 31,
(in millions)		2014		2013
Balance, beginning of year	$	3,872	$	5,164
Increases due to:
Credit impairments on new securities subject to impairment losses		8		17
Additional credit impairments on previously impaired securities		36		18
Reductions due to:
Credit impaired securities fully disposed for which there was no
prior intent or requirement to sell		(330)		(391)
Accretion on securities previously impaired due to credit^*		(188)		(205)
Other		(9)		-
Balance, end of period	$	3,389	$	4,603

Schedule of Purchased Credit Impaired (PCI) Securities, at acquisition date

(in millions)	At Date of Acquisition
Contractually required payments (principal and interest)	$	27,484
Cash flows expected to be collected^*		21,919
Recorded investment in acquired securities		14,437

* Represents undiscounted expected cash flows, including both principal and interest.

Schedule of Purchased Credit Impaired (PCI) Securities, at reporting date

(in millions)	March 31, 2014		December 31, 2013
Outstanding principal balance	$	15,923	$	14,741
Amortized cost		11,235		10,110
Fair value		12,547		11,338

Activity for accretable yield on Purchased Credit Impaired (PCI) Securities

Three Months Ended March 31,
(in millions)		2014		2013
Balance, beginning of period	$	6,940	$	4,766
Newly purchased PCI securities		522		345
Disposals		-		(60)
Accretion		(212)		(160)
Effect of changes in interest rate indices		(59)		84
Net reclassification from non-accretable difference,
including effects of prepayments		(21)		139
Balance, end of period	$	7,170	$	5,114

Schedule of fair value of securities pledged to counterparties under secured financing transactions

(in millions)		March 31, 2014		December 31, 2013
Securities available for sale	$	2,402	$	3,907
Other securities		2,722		2,766

Schedule of fair value of securities pledged to the entity under reverse repurchase agreements

(in millions)		March 31, 2014		December 31, 2013
Securities collateral pledged to us	$	8,166	$	8,878
Amount repledged by us		66		71

LENDING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2014

LENDING ACTIVITIES

Composition of Mortgages and other loans receivable

	March 31,			December 31,
(in millions)		2014		2013
Commercial mortgages^*	$	16,672	$	16,195
Life insurance policy loans		2,777		2,830
Commercial loans, other loans and notes receivable		2,419		2,052
Total mortgage and other loans receivable		21,868		21,077
Allowance for losses		(299)		(312)
Mortgage and other loans receivable, net	$	21,569	$	20,765

Schedule of credit quality indicators for the commercial mortgage loans

	Number															Percent
	of	Class														of
(dollars in millions)	Loans	Apartments			Offices		Retail	Industrial			Hotel		Others		Total^(c)	Total $
March 31, 2014
Credit Quality Indicator:
In good standing	977	$	2,798	$	4,643	$	3,551	$	1,735	$	1,462	$	2,000	$	16,189	97	%
Restructured^(a)	10		54		283		7		-		-		85		429	3
90 days or less delinquent	3		-		11		5		-		-		-		16	-
>90 days delinquent or in
process of foreclosure	5		-		38		-		-		-		-		38	-
Total^(b)	995	$	2,852	$	4,975	$	3,563	$	1,735	$	1,462	$	2,085	$	16,672	100	%
Valuation allowance		$	11	$	114	$	8	$	20	$	3	$	44	$	200	1	%

December 31, 2013
Credit Quality Indicator:
In good standing	978	$	2,786	$	4,636	$	3,364	$	1,607	$	1,431	$	1,970	$	15,794	98	%
Restructured^(a)	9		53		210		6		-		-		85		354	2
90 days or less delinquent	2		-		-		5		-		-		-		5	-
>90 days delinquent or in
process of foreclosure	6		-		42		-		-		-		-		42	-
Total^(b)	995	$	2,839	$	4,888	$	3,375	$	1,607	$	1,431	$	2,055	$	16,195	100	%
Allowance for losses		$	10	$	109	$	9	$	19	$	3	$	51	$	201	1	%

(b) Does not reflect valuation allowances.

(c) Approximately 99 percent of the commercial mortgages held at such respective dates were current as to payments of principal and interest.

Schedule of changes in the allowance for losses on Mortgage and other loans receivable

	2014						2013
Three Months Ended March 31,		Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	201	$	111	$	312	$	159	$	246	$	405
Loans charged off		-		-		-		(1)		(22)		(23)
Recoveries of loans previously charged off		-		-		-		-		1		1
Net charge-offs		-		-		-		(1)		(21)		(22)
Provision for loan losses		(1)		(12)		(13)		7		(4)		3
Other		-		-		-		-		(1)		(1)
Activity of discontinued operations		-		-		-		-		-		-
Allowance, end of period	$	200^*	$	99	$	299	$	165^*	$	220	$	385

VARIABLE INTEREST ENTITIES (Tables)

3 Months Ended

Mar. 31, 2014

VARIABLE INTEREST ENTITIES

Schedule of Consolidated Variable Interest Entities

(in millions)		Real Estate and Investment Funds^(c)		Securitization Vehicles		Structured Investment Vehicles		Affordable Housing Partnerships		Other		Total
March 31, 2014
Assets:
Bonds available for sale	$	-	$	11,362	$	-	$	-	$	57	$	11,419
Other bond securities		-		8,002		731		-		113		8,846
Mortgage and other loans receivable		-		1,731		-		-		182		1,913
Other invested assets		654		-		-		1,941		761		3,356
Other assets		48		800		111		45		614		1,618
Total assets^(a)(b)	$	702	$	21,895	$	842	$	1,986	$	1,727	$	27,152
Liabilities:
Long-term debt	$	70	$	1,265	$	98	$	224	$	136	$	1,793
Other liabilities		37		295		1		87		221		641
Total liabilities	$	107	$	1,560	$	99	$	311	$	357	$	2,434
December 31, 2013
Assets:
Bonds available for sale	$	-	$	11,028	$	-	$	-	$	70	$	11,098
Other bond securities		-		7,449		748		-		113		8,310
Mortgage and other loans receivable		-		1,508		-		-		189		1,697
Other invested assets		849		-		-		1,986		793		3,628
Other assets		49		481		93		41		615		1,279
Total assets^(a)(b)	$	898	$	20,466	$	841	$	2,027	$	1,780	$	26,012
Liabilities:
Long-term debt	$	71	$	494	$	87	$	188	$	154	$	994
Other liabilities		31		74		-		83		367		555
Total liabilities	$	102	$	568	$	87	$	271	$	521	$	1,549

(a) The assets of each VIE can be used only to settle specific obligations of that VIE.

(c) At both March 31, 2014 and December 31, 2013, off-balance sheet exposure, primarily consisting of commitments to real estate and investment funds, was $50.8 million.

Schedule of Unconsolidated Variable Interest Entities

			Maximum Exposure to Loss
		Total VIE		On-Balance		Off-Balance
(in millions)		Assets		Sheet^*		Sheet		Total
March 31, 2014
Real estate and investment funds	$	18,334	$	2,446	$	369	$	2,815
Affordable housing partnerships		478		478		-		478
Other		609		29		-		29
Total	$	19,421	$	2,953	$	369	$	3,322
December 31, 2013
Real estate and investment funds	$	17,572	$	2,343	$	289	$	2,632
Affordable housing partnerships		478		477		-		477
Other		708		37		-		37
Total	$	18,758	$	2,857	$	289	$	3,146

* At March 31, 2014 and December 31, 2013, $2.9 billion and $2.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.

DERIVATIVES AND HEDGE ACCOUNTING (Tables)

3 Months Ended

Mar. 31, 2014

DERIVATIVES AND HEDGE ACCOUNTING

Notional amounts and fair values of derivative instruments

	March 31, 2014								December 31, 2013
	Gross Derivative Assets				Gross Derivative Liabilities				Gross Derivative Assets				Gross Derivative Liabilities
		Notional		Fair		Notional		Fair		Notional		Fair		Notional		Fair
(in millions)		Amount		Value^(a)		Amount		Value^(a)		Amount		Value^(a)		Amount		Value^(a)
Derivatives designated as
hedging instruments:
Interest rate contracts^(b)	$	-	$	-	$	114	$	13	$	-	$	-	$	112	$	15
Foreign exchange contracts		210		2		1,752		153		-		-		1,857		190
Equity contracts^(c)		80		4		25		-		-		-		-		-
Derivatives not designated
as hedging instruments:
Interest rate contracts^(b)		54,735		3,797		58,374		4,399		50,897		3,771		59,585		3,849
Foreign exchange contracts		2,091		35		3,840		101		1,774		52		3,789		129
Equity contracts^(c)		4,106		203		32,531		875		29,296		413		9,840		524
Commodity contracts		17		1		13		4		17		1		13		5
Credit contracts		60		41		15,252		1,226		70		55		15,459		1,335
Other contracts^(d)		33,396		36		1,325		171		32,440		34		1,408		167
Total derivatives not
designated as hedging
instruments		94,405		4,113		111,335		6,776		114,494		4,326		90,094		6,009
Total derivatives, gross	$	94,695	$	4,119	$	113,226	$	6,942	$	114,494	$	4,326	$	92,063	$	6,214

(a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral.

(b) Includes cross-currency swaps.

(d) Consists primarily of contracts with multiple underlying exposures.

Fair values of derivative assets and liabilities in the Condensed Consolidated Balance Sheets

	March 31, 2014								December 31, 2013
	Derivative Assets				Derivative Liabilities				Derivative Assets				Derivative Liabilities
		Notional		Fair		Notional		Fair		Notional		Fair		Notional		Fair
(in millions)		Amount		Value		Amount		Value		Amount		Value		Amount		Value
Global Capital Markets derivatives:
AIG Financial Products	$	41,629	$	2,470	$	52,643	$	3,850	$	41,942	$	2,567	$	52,679	$	3,506
AIG Markets		14,986		1,016		19,263		1,499		12,531		964		23,716		1,506
Total Global Capital Markets derivatives		56,615		3,486		71,906		5,349		54,473		3,531		76,395		5,012
Non-Global Capital Markets derivatives^(a)		38,080		633		41,320		1,593		60,021		795		15,668		1,202
Total derivatives, gross	$	94,695		4,119	$	113,226		6,942	$	114,494		4,326	$	92,063		6,214
Counterparty netting^(b)				(1,680)				(1,680)				(1,734)				(1,734)
Cash collateral^(c)				(838)				(1,375)				(820)				(1,484)
Total derivatives, net				1,601				3,887				1,772				2,996
Less: Bifurcated embedded derivatives				-				848				107				485
Total derivatives on consolidated
balance sheet			$	1,601			$	3,039			$	1,665			$	2,511

(b) Represents netting of derivative exposures covered by a qualifying master netting agreement.

Gain (loss) recognized in earnings on AIG's derivative instruments in fair value hedging relationships in the Consolidated Statements of Income

Three Months Ended March 31,
(in millions)		2014		2013
Interest rate contracts:
Gain recognized in earnings on derivatives^(b)	$	2	$	-
Gain recognized in earnings on hedged items^(c)		65		30
Foreign exchange contracts:^(d)
Gain (loss) recognized in earnings on derivatives		24		(5)
Gain (loss) recognized in earnings on hedged items		(32)		4
Loss recognized in earnings for amounts excluded from effectiveness testing		(8)		(1)

(a) Excludes immaterial amounts related to equity forwards used to hedge the change in fair value of available-for-sale common stock.

(d) Gains and losses recognized in earnings for the ineffective portion and amounts excluded from effectiveness testing, if any, are recorded in Net realized capital gains (losses).

Effect of AIG's derivative instruments not designated as hedging instruments in the Consolidated Statements of Income

	Gains (Losses)
Three Months Ended March 31,	Recognized in Earnings
(in millions)		2014		2013
By Derivative Type:
Interest rate contracts^(a)	$	139	$	(216)
Foreign exchange contracts		(14)		155
Equity contracts^(b)		(422)		44
Commodity contracts		1		-
Credit contracts		80		175
Other contracts		15		44
Total	$	(201)	$	202
By Classification:
Policy fees	$	68	$	45
Net investment income		14		24
Net realized capital losses		(337)		(276)
Other income		49		412
Policyholder benefits and claims incurred		5		(3)
Total	$	(201)	$	202

(a) Includes cross currency swaps.

(b) Includes embedded derivative gains (losses) of $(389) million and $256 million for the three month periods ended March 31, 2014 and 2013, respectively.

Net notional amount (net of all structural subordination below the covered tranches), fair value of derivative (asset) liability before the effects of counterparty netting adjustments and offsetting cash collateral and unrealized market valuation gain (loss) of the super senior credit default swap portfolio by asset class

						Fair Value of			Unrealized Market Valuation
	Net Notional Amount at				Derivative Liability at				Three Months Ended
	March 31,			December 31,	March 31,			December 31,	March 31,			March 31,
(in millions)		2014		2013		2014		2013		2014		2013
Arbitrage:
Multi-sector CDOs^(a)		3,166		3,257		1,151		1,249		72		155
Corporate debt/CLOs^(b)		11,821		11,832		25		28		3		16
Total	$	14,987	$	15,089	$	1,176	$	1,277	$	75	$	171

- Definition

Tabular disclosure of credit derivatives which includes information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, but not limited to, a credit-linked note).

+ References+ Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

EQUITY (Tables)

3 Months Ended

Mar. 31, 2014

EQUITY

Rollforward of common stock outstanding

	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Three Months Ended March 31, 2014
Shares, beginning of year	1,906,645,689	(442,582,366)	1,464,063,323
Shares issued	9,951	-	9,951
Shares repurchased	-	(17,425,487)	(17,425,487)
Shares, end of period	1,906,655,640	(460,007,853)	1,446,647,787

Accumulated Other Comprehensive Income (Loss)

		Unrealized Appreciation
		(Depreciation) of Fixed
		Maturity Investments		Unrealized Appreciation (Depreciation) of All Other Investments		Foreign Currency Translation Adjustments		Change in Retirement Plan Liabilities Adjustment
		on Which Other-Than-
		Temporary Credit
(in millions)		investments								Total
Balance, December 31, 2013, net of tax	$	936	$	6,789	$	(952)	$	(413)	$	6,360
Change in unrealized appreciation of investments		136		3,803		-		-		3,939
Change in deferred acquisition costs adjustment and other		32		(256)		-		-		(224)
Change in future policy benefits		(87)		(588)		-		-		(675)
Change in foreign currency translation adjustments		-		-		(102)		-		(102)
Net actuarial gain		-		-		-		14		14
Prior service cost		-		-		-		(12)		(12)
Change in deferred tax asset (liability)		8		(174)		(56)		7		(215)
Total other comprehensive income (loss)		89		2,785		(158)		9		2,725
Noncontrolling interests		-		-		-		-		-
Balance, March 31, 2014, net of tax	$	1,025	$	9,574	$	(1,110)	$	(404)	$	9,085

Balance, December 31, 2012, net of tax	$	575	$	13,446	$	(403)	$	(1,044)	$	12,574
Change in unrealized appreciation (depreciation) of investments		414		(1,607)		-		-		(1,193)
Change in deferred acquisition costs adjustment and other		(2)		(309)		-		-		(311)
Change in future policy benefits		13		411		-		-		424
Change in foreign currency translation adjustments		-		-		(293)		-		(293)
Net actuarial gain		-		-		-		57		57
Prior service cost		-		-		-		(14)		(14)
Change in deferred tax asset (liability)		(143)		717		20		1		595
Total other comprehensive income (loss)		282		(788)		(273)		44		(735)
Noncontrolling interests		-		(1)		1		-		-
Balance, March 31, 2013, net of tax	$	857	$	12,659	$	(677)	$	(1,000)	$	11,839

Other comprehensive income (loss) reclassification adjustments

		Unrealized Appreciation
		(Depreciation) of Fixed
		Maturity Investments		Unrealized				Change in
		on Which Other-Than-		Appreciation		Foreign		Retirement
		Temporary Credit		(Depreciation)		Currency		Plan
		Impairments Were		of All Other		Translation		Liabilities
(in millions)		Recognized		Investments		Adjustments		Adjustment		Total
March 31, 2014
Unrealized change arising during period	$	89	$	3,188	$	(102)	$	1	$	3,176
Less: Reclassification adjustments
included in net income		8		229		-		(1)		236
Total other comprehensive income (loss),
before income tax expense (benefit)		81		2,959		(102)		2		2,940
Less: Income tax expense (benefit)		(8)		174		56		(7)		215
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	89	$	2,785	$	(158)	$	9	$	2,725

March 31, 2013
Unrealized change arising during period	$	474	$	(1,278)	$	(293)	$	18	$	(1,079)
Less: Reclassification adjustments
included in net income		49		227		-		(25)		251
Total other comprehensive income (loss),
before income tax expense (benefit)		425		(1,505)		(293)		43		(1,330)
Less: Income tax expense (benefit)		143		(717)		(20)		(1)		(595)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	282	$	(788)	$	(273)	$	44	$	(735)

Schedule of effect of the reclassification of significant items out of Accumulated other comprehensive income on the respective line items in the Consolidated Statements of Income

	Amount Reclassified
	from Accumulated Other
	Comprehensive Income
	Three Months Ended March 31,					Affected Line Item in the
(in millions)			2014		2013	Consolidated Statements of Income
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized

Investments		$	8	$	49	Other realized capital gains
Total			8		49
Unrealized appreciation (depreciation) of
all other investments
Investments			204		286	Other realized capital gains
Deferred acquisition costs adjustment			35		43	Amortization of deferred acquisition costs
Future policy benefits			(10)		(102)	Policyholder benefits and claims incurred
Total			229		227
Change in retirement plan liabilities adjustment
Prior-service costs			12		12	*
Actuarial gains/(losses)			(13)		(37)	*
Total			(1)		(25)
Total reclassifications for the period		$	236	$	251

* These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 14 to the Condensed Consolidated Financial Statements.

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

NONCONTROLLING INTERESTS (Tables)

3 Months Ended

Mar. 31, 2014

NONCONTROLLING INTERESTS

Rollforward of noncontrolling interests

		Redeemable		Non-redeemable
		Noncontrolling		Noncontrolling
(in millions)		Interests		Interests
Three Months Ended March 31, 2014
Balance, beginning of year	$	30	$	611
Contributions from noncontrolling interests		1		5
Distributions to noncontrolling interests		-		(22)
Deconsolidation		(4)		(34)
Comprehensive income (loss):
Net income (loss)		-		3
Total comprehensive income (loss)		-		3
Other		-		(3)
Balance, end of period	$	27	$	560
Three Months Ended March 31, 2013
Balance, beginning of year	$	334	$	667
Contributions from noncontrolling interests		22		8
Distributions to noncontrolling interests		(17)		(19)
Consolidation (deconsolidation)		32		-
Comprehensive income:
Net income		15		10
Unrealized losses on investments		(1)		-
Foreign currency translation adjustments		2		(1)
Total other comprehensive
income (loss), net of tax		1		(1)
Total comprehensive income		16		9
Other		1		(2)
Balance, end of period	$	388	$	663

EARNINGS PER SHARE (EPS) (Tables)

3 Months Ended

Mar. 31, 2014

EARNINGS PER SHARE (EPS)

Computation of basic and diluted EPS

Three Months Ended March 31,
(dollars in millions, except per share data)		2014		2013
Numerator for EPS:
Income from continuing operations	$	1,659	$	2,158
Less: Net income from continuing operations attributable to noncontrolling interests		3		25
Income attributable to AIG common shareholders from continuing operations		1,656		2,133
Income (loss) from discontinued operations		(47)		73
Net income attributable to AIG common shareholders	$	1,609	$	2,206
Denominator for EPS:
Weighted average shares outstanding — basic		1,459,249,393		1,476,471,097
Dilutive shares		13,261,420		207,834
Weighted average shares outstanding — diluted^*		1,472,510,813		1,476,678,931
Income per common share attributable to AIG:
Basic:
Income from continuing operations	$	1.13	$	1.44
Income (loss) from discontinued operations	$	(0.03)	$	0.05
Net Income attributable to AIG	$	1.10	$	1.49
Diluted:
Income from continuing operations	$	1.12	$	1.44
Income (loss) from discontinued operations	$	(0.03)	$	0.05
Net Income attributable to AIG	$	1.09	$	1.49

EMPLOYEE BENEFITS (Tables)

3 Months Ended

Mar. 31, 2014

EMPLOYEE BENEFITS

Components of net periodic benefit cost

	Pension						Postretirement
		U.S.		Non-U.S.				U.S.		Non-U.S.
(in millions)		Plans		Plans		Total		Plans		Plans		Total
Three Months Ended March 31, 2014
Components of net periodic benefit cost:
Service cost	$	44	$	11	$	55	$	1	$	-	$	1
Interest cost		57		7		64		2		1		3
Expected return on assets		(71)		(6)		(77)		-		-		-
Amortization of prior service (credit) cost		(8)		(1)		(9)		(2)		-		(2)
Amortization of net (gain) loss		11		2		13		-		-		-
Net periodic benefit cost	$	33	$	13	$	46	$	1	$	1	$	2
Three Months Ended March 31, 2013
Components of net periodic benefit cost:
Service cost	$	44	$	13	$	57	$	1	$	1	$	2
Interest cost		49		8		57		2		-		2
Expected return on assets		(65)		(5)		(70)		-		-		-
Amortization of prior service (credit) cost		(8)		(1)		(9)		(3)		-		(3)
Amortization of net (gain) loss		33		3		36		1		-		1
Curtailment (gain) loss		-		(1)		(1)		-		-		-
Net periodic benefit cost	$	53	$	17	$	70	$	1	$	1	$	2

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)

3 Months Ended

Mar. 31, 2014

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

Condensed Consolidating Balance Sheets

		American
		International					Reclassifications
		Group, Inc.				Other		and	Consolidated
(in millions)	(As Guarantor)		AIGLH			Subsidiaries		Eliminations		AIG
March 31, 2014
Assets:
Short-term investments	$	10,249	$	-	$	9,029	$	(1,620)	$	17,658
Other investments^(a)		7,145		-		332,732		-		339,877
Total investments		17,394		-		341,761		(1,620)		357,535
Cash		60		9		2,421		-		2,490
Loans to subsidiaries^(b)		31,013		-		735		(31,748)		-
Investment in consolidated subsidiaries^(b)		69,439		39,574		-		(109,013)		-
Other assets, including deferred income taxes		23,726		206		134,139		(1,752)		156,319
Assets held for sale		-		-		30,767		-		30,767
Total assets	$	141,632	$	39,789	$	509,823	$	(144,133)	$	547,111
Liabilities:
Insurance liabilities	$	-	$	-	$	273,598	$	-	$	273,598
Long-term debt		28,657		1,352		9,499		-		39,508
Other liabilities, including intercompany balances^(a)(c)		8,334		96		98,686		(3,346)		103,770
Loans from subsidiaries^(b)		808		100		30,933		(31,841)		-
Liabilities held for sale		-		-		25,815		-		25,815
Total liabilities		37,799		1,548		438,531		(35,187)		442,691
Redeemable noncontrolling interests (see Note 12)		-		-		27		-		27
Total AIG shareholders’ equity		103,833		38,241		70,705		(108,946)		103,833
Non-redeemable noncontrolling interests		-		-		560		-		560
Total equity		103,833		38,241		71,265		(108,946)		104,393
Total liabilities and equity	$	141,632	$	39,789	$	509,823	$	(144,133)	$	547,111
December 31, 2013
Assets:
Short-term investments	$	11,965	$	-	$	11,404	$	(1,752)	$	21,617
Other investments^(a)		7,561		-		327,250		-		334,811
Total investments		19,526		-		338,654		(1,752)		356,428
Cash		30		51		2,160		-		2,241
Loans to subsidiaries^(b)		31,220		-		854		(32,074)		-
Investment in consolidated subsidiaries^(b)		66,201		39,103		-		(105,304)		-
Other assets, including deferred income taxes		21,606		112		132,492		(1,086)		153,124
Assets held for sale		-		-		29,536		-		29,536
Total assets	$	138,583	$	39,266	$	503,696	$	(140,216)	$	541,329
Liabilities:
Insurance liabilities	$	-	$	-	$	271,252	$	-	$	271,252
Long-term debt		30,839		1,352		9,502		-		41,693
Other liabilities, including intercompany balances^(a)(c)		6,422		161		98,908		(2,766)		102,725
Loans from subsidiaries^(b)		852		200		31,173		(32,225)		-
Liabilities held for sale		-		-		24,548		-		24,548
Total liabilities		38,113		1,713		435,383		(34,991)		440,218
Redeemable noncontrolling interests (see Note 12)		-		-		30		-		30
Total AIG shareholders’ equity		100,470		37,553		67,672		(105,225)		100,470
Non-redeemable noncontrolling interests		-		-		611		-		611
Total equity		100,470		37,553		68,283		(105,225)		101,081
Total liabilities and equity	$	138,583	$	39,266	$	503,696	$	(140,216)	$	541,329

(a) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment.

(b) Eliminated in consolidation.

Condensed Consolidating Statements of Income (loss)


		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended March 31, 2014
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,985	$	730	$	-	$	(2,715)	$	-
Other income		224		-		16,000		(112)		16,112
Total revenues		2,209		730		16,000		(2,827)		16,112
Expenses:
Interest expense		422		29		61		(33)		479
Loss on extinguishment of debt		288		-		-		(50)		238
Other expenses		242		1		12,918		(39)		13,122
Total expenses		952		30		12,979		(122)		13,839
Income (loss) from continuing operations before income tax
expense (benefit)		1,257		700		3,021		(2,705)		2,273
Income tax expense (benefit)		(349)		(144)		1,126		(19)		614
Income (loss) from continuing operations		1,606		844		1,895		(2,686)		1,659
Income (loss) from discontinued operations, net of income taxes		3		-		(50)		-		(47)
Net income (loss)		1,609		844		1,845		(2,686)		1,612
Less:
Total net income attributable to
noncontrolling interests		-		-		3		-		3
Net income (loss) attributable to AIG	$	1,609	$	844	$	1,842	$	(2,686)	$	1,609
Three Months Ended March 31, 2013
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,891	$	670	$	-	$	(2,561)	$	-
Other income		294		-		16,737		(69)		16,962
Total revenues		2,185		670		16,737		(2,630)		16,962
Expenses:
Interest expense		528		36		82		(69)		577
Loss on extinguishment of debt		269		-		71		-		340
Other expenses		258		71		12,841		-		13,170
Total expenses		1,055		107		12,994		(69)		14,087
Income (loss) from continuing operations before income tax
expense (benefit)		1,130		563		3,743		(2,561)		2,875
Income tax expense (benefit)		(1,080)		(11)		1,808		-		717
Income (loss) from continuing operations		2,210		574		1,935		(2,561)		2,158
Income (loss) from discontinued operations, net of income taxes		(4)		-		77		-		73
Net income (loss)		2,206		574		2,012		(2,561)		2,231
Less:
Net income from continuing operations attributable to
noncontrolling interests:
Other		-		-		25		-		25
Total net income attributable to noncontrolling interests		-		-		25		-		25
Net income (loss) attributable to AIG	$	2,206	$	574	$	1,987	$	(2,561)	$	2,206

* Eliminated in consolidation.

Condensed Consolidating Statements of Comprehensive Income (loss)

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended March 31, 2014
Net income (loss)	$	1,609	$	844	$	1,845	$	(2,686)	$	1,612
Other comprehensive income (loss)		2,725		1,494		1,849		(3,343)		2,725
Comprehensive income (loss)		4,334		2,338		3,694		(6,029)		4,337
Total comprehensive income attributable to noncontrolling interests		-		-		3		-		3
Comprehensive income (loss) attributable to AIG	$	4,334	$	2,338	$	3,691	$	(6,029)	$	4,334
Three Months Ended March 31, 2013
Net income (loss)	$	2,206	$	574	$	2,012	$	(2,561)	$	2,231
Other comprehensive income (loss)		(735)		(639)		(920)		1,559		(735)
Comprehensive income (loss)		1,471		(65)		1,092		(1,002)		1,496
Total comprehensive income attributable to noncontrolling interests		-		-		25		-		25
Comprehensive income (loss) attributable to AIG	$	1,471	$	(65)	$	1,067	$	(1,002)	$	1,471

Condensed Consolidating Statements of Cash Flows

		American				Other
		International				Subsidiaries
		Group, Inc.				and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Eliminations		AIG
Three Months Ended March 31, 2014
Net cash (used in) provided by operating activities		875		1,711		(1,823)		763
Cash flows from investing activities:
Sales of investments		430		-		14,813		15,243
Purchase of investments		(38)		-		(14,260)		(14,298)
Loans to subsidiaries – net		295		-		(295)		-
Contributions to subsidiaries – net		40		-		(40)		-
Net change in restricted cash		(6)		-		(661)		(667)
Net change in short-term investments		2,027		-		1,561		3,588
Other, net		(16)		-		(67)		(83)
Net cash provided by investing activities		2,732		-		1,051		3,783
Cash flows from financing activities:
Issuance of long-term debt		-		-		1,583		1,583
Repayments of long-term debt		(2,196)		-		(1,085)		(3,281)
Purchase of Common Stock		(867)		-		-		(867)
Intercompany loans - net		(47)		(100)		147		-
Cash dividends paid		(182)		(1,653)		1,653		(182)
Other, net		(285)		-		(1,257)		(1,542)
Net cash (used in) provided by financing activities		(3,577)		(1,753)		1,041		(4,289)
Effect of exchange rate changes on cash		-		-		(11)		(11)
Change in cash		30		(42)		258		246
Cash at beginning of year		30		51		2,160		2,241
Reclassification to assets held for sale		-		-		3		3
Cash at end of period	$	60	$	9	$	2,421	$	2,490

Three Months Ended March 31, 2013
Net cash (used in) provided by operating activities		(606)		1,243		(786)		(149)
Cash flows from investing activities:
Sales of investments		212		-		16,932		17,144
Purchase of investments		(2,448)		-		(16,214)		(18,662)
Loans to subsidiaries – net		1,710		-		(1,710)		-
Contributions to subsidiaries – net		(30)		-		30		-
Net change in restricted cash		-		-		296		296
Net change in short-term investments		3,255		-		2,224		5,479
Other, net		179		-		(472)		(293)
Net cash provided by investing activities		2,878		-		1,086		3,964
Cash flows from financing activities:
Issuance of long-term debt		-		-		1,395		1,395
Repayments of long-term debt		(2,149)		(245)		(1,943)		(4,337)
Intercompany loans - net		97		(93)		(4)		-
Purchase of common stock		-		-		-		-
Cash dividends paid to shareholders		-		(978)		978		-
Other, net		(243)		-		(533)		(776)
Net cash (used in) financing activities		(2,295)		(1,316)		(107)		(3,718)
Effect of exchange rate changes on cash		-		-		(36)		(36)
Change in cash		(23)		(73)		157		61
Cash at beginning of year		81		73		997		1,151
Change in cash of businesses held for sale		-		-		15		15
Cash at end of period	$	58	$	-	$	1,169	$	1,227

Supplementary Disclosure of Condensed Consolidating Cash Flow Information

		American				Other
		International				Subsidiaries
		Group, Inc.				and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Eliminations		AIG
Cash (paid) received during the 2014 period for:
Interest:
Third party	$	(363)	$	(41)	$	(436)	$	(840)
Intercompany		(1)		(4)		5		-
Taxes:
Income tax authorities	$	(3)	$	-	$	(162)	$	(165)
Intercompany		289		-		(289)		-
Cash (paid) received during the 2013 period for:
Interest:
Third party	$	(434)	$	(44)	$	(505)	$	(983)
Intercompany		(4)		(13)		17		-
Taxes:
Income tax authorities	$	-	$	-	$	(103)	$	(103)
Intercompany		210		(78)		(132)		-

Supplementary disclosure of non-cash activities

Three Months Ended March 31,
(in millions)		2014		2013
Intercompany non-cash financing and investing activities:
Capital contributions
to subsidiaries through forgiveness of loans	$	993	$	-
Other capital contributions - net		-		118

BASIS OF PRESENTATION (Details) (USD $) Share data in Millions, except Per Share data, unless otherwise specified			0 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Dec. 16, 2013 International Lease Finance Corporation (ILFC)	Dec. 16, 2013 Aer Cap [Member]	Mar. 31, 2014 Minimum item
Basis of Presentation [Line Items]
Number of Countries in which the entity operates					130
Common stock, par value (in dollars per share)	$ 2.5	$ 2.5
Percentage of common stock agreed to be sold			100.00%
Consideration in cash			$ 3,000,000,000
Portion of consideration which will be funded by a special dividend			$ 600,000,000
Number of shares received				97.6

SEGMENT INFORMATION (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014 segment	Mar. 31, 2013
Segment results
Number of reportable segments	2
Total revenues	$ 16,112	$ 16,962
Pre-tax Income (loss) from continuing operations	2,273	2,875
Other Operations
Segment results
Total revenues	2,260	2,441
Pre-tax Income (loss) from continuing operations	(345)	(381)
Other Operations \| Mortgage Guaranty
Segment results
Total revenues	249	231
Pre-tax Income (loss) from continuing operations	77	44
Other Operations \| Global Capital Markets
Segment results
Total revenues	59	273
Pre-tax Income (loss) from continuing operations	29	227
Other Operations \| Direct Investment Book
Segment results
Total revenues	465	411
Pre-tax Income (loss) from continuing operations	355	312
Other Operations \| Corporate and Other
Segment results
Total revenues	382	461
Pre-tax Income (loss) from continuing operations	(824)	(1,008)
Other Operations \| Aircraft Leasing [Member]
Segment results
Total revenues	1,113	1,074
Pre-tax Income (loss) from continuing operations	17	43
Other Operations \| Consolidation and elimination of reconciling items
Segment results
Total revenues	(8)	(9)
Pre-tax Income (loss) from continuing operations	1	1
Operating Segments \| Total AIG Property Casualty
Segment results
Total revenues	9,666	9,968
Pre-tax Income (loss) from continuing operations	1,309	1,614
Operating Segments \| Total AIG Life and Retirement
Segment results
Total revenues	4,351	4,740
Pre-tax Income (loss) from continuing operations	1,232	1,570
Consolidation and Eliminations
Segment results
Total revenues	(165)	(187)
Pre-tax Income (loss) from continuing operations	77	72
Reportable Subsegments \| Total AIG Property Casualty \| Commercial Insurance
Segment results
Total revenues	5,642	5,773
Pre-tax Income (loss) from continuing operations	713	1,041
Reportable Subsegments \| Total AIG Property Casualty \| Consumer Insurance
Segment results
Total revenues	3,258	3,506
Pre-tax Income (loss) from continuing operations	27	153
Reportable Subsegments \| Total AIG Property Casualty \| Other Insurance
Segment results
Total revenues	766	689
Pre-tax Income (loss) from continuing operations	569	420
Reportable Subsegments \| Total AIG Life and Retirement \| Retail
Segment results
Total revenues	2,766	3,003
Pre-tax Income (loss) from continuing operations	665	996
Reportable Subsegments \| Total AIG Life and Retirement \| Institutional
Segment results
Total revenues	1,585	1,737
Pre-tax Income (loss) from continuing operations	$ 567	$ 574

HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS (Details) (USD $) Share data in Millions, except Per Share data, unless otherwise specified	3 Months Ended				3 Months Ended		0 Months Ended	3 Months Ended	0 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2014 Discontinued operations	Mar. 31, 2013 Discontinued operations	Dec. 16, 2013 International Lease Finance Corporation (ILFC)	Mar. 31, 2014 International Lease Finance Corporation (ILFC)	Dec. 16, 2013 Aer Cap	Mar. 31, 2014 Aer Cap	Dec. 13, 2013 Aer Cap	Mar. 31, 2014 Assets held-for-sale	Dec. 31, 2013 Assets held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Percentage of common stock agreed to be sold							100.00%
Consideration in cash							$ 3,000,000,000
Portion of consideration which will be funded by a special dividend							600,000,000
Number of shares received									97.6
Aggregated Stated value of consideration								5,400,000,000
Aggregate commitment under revolving credit facility										1,000,000,000
Closing price per share (in dollars per share)											$ 24.93
Percentage of common stock held after closing transaction										46.00%
Assets:
Equity securities	3,878,000,000		3,656,000,000									4,000,000	3,000,000
Mortgage and other loans receivable, net												262,000,000	229,000,000
Flight equipment primarily under operating leases, net of accumulated depreciation												35,612,000,000	35,508,000,000
Short-term investments	17,658,000,000		21,617,000,000									1,626,000,000	658,000,000
Cash	2,490,000,000	1,227,000,000	2,241,000,000	1,151,000,000								84,000,000	88,000,000
Premiums and other receivables, net of allowance	14,269,000,000		12,939,000,000									343,000,000	318,000,000
Other assets	8,738,000,000		9,366,000,000									2,798,000,000	2,066,000,000
Assets held for sale												40,729,000,000	38,870,000,000
Less: Loss Accrual												(9,962,000,000)	(9,334,000,000)
Total assets held for sale	30,767,000,000		29,536,000,000									30,767,000,000	29,536,000,000
Liabilities:
Other liabilities	28,138,000,000		29,155,000,000									3,082,000,000	3,127,000,000
Long-term debt	39,508,000,000		41,693,000,000									22,733,000,000	21,421,000,000
Total liabilities held for sale	25,815,000,000		24,548,000,000									25,815,000,000	24,548,000,000
Income (loss) from divested business or operations:
Gain (loss) on sale					(1,000,000)	117,000,000
Income (loss) from discontinued operations, before tax expense (benefit)					(1,000,000)	117,000,000
Income tax expense (benefit)					46,000,000	44,000,000
Income (loss) from discontinued operations, net of income tax expense	$ (47,000,000)	$ 73,000,000			$ (47,000,000)	$ 73,000,000

FAIR VALUE MEASUREMENTS (Details - Fair Value Measurements on a Recurring Basis) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	$ 262,937	$ 258,274
Other bond securities, at fair value (See note 6)	21,718	22,623
Equity securities available for sale	3,878	3,656
Equity securities trading	725.0	834.0
Other invested assets	8,867.0	8,598.0
Derivative assets, at fair value	1,601.0	1,665.0
Short-term investments, portion measured at fair value	3,753	6,313
Separate account assets, at fair value	72,593	71,059
Other assets	0	418
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	831	384
Derivative liabilities, at fair value	3,039	2,511
Long-term debt, portion measured at fair value	6,019	6,747
Other liabilities	538	933
Recurring Basis
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	262,937	258,274
Other bond securities, at fair value (See note 6)	21,718	22,623
Equity securities available for sale	3,878	3,656
Equity securities trading	725.0	834.0
Other invested assets	8,867.0	8,598.0
Derivative assets, at fair value	1,601.0	1,665.0
Short-term investments, portion measured at fair value	3,753	6,313
Separate account assets, at fair value	72,593	71,059
Other assets		418
Fair value assets measured on recurring basis, total	376,072	373,440
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	831	384
Derivative liabilities, at fair value	3,039	2,511
Long-term debt, portion measured at fair value	6,019	6,747
Other liabilities	538	933
Fair value liabilities measured on recurring basis, total	10,427	10,575
Assets transferred from Level 2 to Level 1	0		0
Recurring Basis \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	3,797.0	3,771.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	4,346	3,802
Recurring Basis \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	37.0	52.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	254	319
Recurring Basis \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	207.0	306.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	93	101
Recurring Basis \| Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	1.0	1.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	4	5
Recurring Basis \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	41.0	55.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	1,226	1,335
Recurring Basis \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	36.0	34.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	171	167
Recurring Basis \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	(2,518.0)	(2,554.0)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	(3,055)	(3,218)
Recurring Basis \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,922	3,195
Other bond securities, at fair value (See note 6)	5,394	5,723
Recurring Basis \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	30,589	29,380
Other bond securities, at fair value (See note 6)	122	121
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	103.0		93.0
Recurring Basis \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	21,884	22,509
Other bond securities, at fair value (See note 6)	2	2
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	62.0		239.0
Recurring Basis \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	146,991	144,552
Other bond securities, at fair value (See note 6)	1,108	1,169
Recurring Basis \| Residential mortgage backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	37,304	36,148
Other bond securities, at fair value (See note 6)	2,351	2,263
Recurring Basis \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	12,095	11,482
Other bond securities, at fair value (See note 6)	1,278	1,353
Recurring Basis \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	11,152	11,008
Other bond securities, at fair value (See note 6)	11,463	11,992
Recurring Basis \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	3,079	3,219
Recurring Basis \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	28	27
Recurring Basis \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	771	410
Recurring Basis \| Level 1
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	632	641
Other bond securities, at fair value (See note 6)	28	78
Equity securities available for sale	3,845	3,626
Equity securities trading	653.0	750.0
Other invested assets	24.0	1.0
Derivative assets, at fair value	96.0	165.0
Short-term investments, portion measured at fair value	392	332
Separate account assets, at fair value	69,216	67,708
Fair value assets measured on recurring basis, total	74,886	73,301
Fair Value, Liabilities Measured on Recurring Basis
Other liabilities	87	42
Fair value liabilities measured on recurring basis, total	87	42
Recurring Basis \| Level 1 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	12.0	14.0
Recurring Basis \| Level 1 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	84.0	151.0
Recurring Basis \| Level 1 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	3	133
Other bond securities, at fair value (See note 6)	28	78
Recurring Basis \| Level 1 \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	629	508
Recurring Basis \| Level 1 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	3,078	3,218
Recurring Basis \| Level 1 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	767	408
Recurring Basis \| Level 2
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	230,316	227,632
Other bond securities, at fair value (See note 6)	11,353	11,930
Equity securities available for sale	33	29
Equity securities trading	72.0	84.0
Other invested assets	2,853.0	2,667.0
Derivative assets, at fair value	3,821.0	3,875.0
Short-term investments, portion measured at fair value	3,361	5,981
Separate account assets, at fair value	3,377	3,351
Other assets		418
Fair value assets measured on recurring basis, total	255,186	255,967
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	66	72
Derivative liabilities, at fair value	4,589	4,111
Long-term debt, portion measured at fair value	5,616	6,377
Other liabilities	451	891
Fair value liabilities measured on recurring basis, total	10,722	11,451
Recurring Basis \| Level 2 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	3,750.0	3,716.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	4,213	3,661
Recurring Basis \| Level 2 \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	37.0	52.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	254	319
Recurring Basis \| Level 2 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	34.0	106.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	92	101
Recurring Basis \| Level 2 \| Commodity contracts
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	4	5
Recurring Basis \| Level 2 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value		1.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	26	25
Recurring Basis \| Level 2 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,919	3,062
Other bond securities, at fair value (See note 6)	5,366	5,645
Recurring Basis \| Level 2 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	28,547	28,300
Other bond securities, at fair value (See note 6)	122	121
Recurring Basis \| Level 2 \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	21,238	21,985
Other bond securities, at fair value (See note 6)	2	2
Recurring Basis \| Level 2 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	145,176	143,297
Other bond securities, at fair value (See note 6)	1,108	1,169
Recurring Basis \| Level 2 \| Residential mortgage backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	21,540	21,207
Other bond securities, at fair value (See note 6)	1,282	1,326
Recurring Basis \| Level 2 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	6,354	5,747
Other bond securities, at fair value (See note 6)	508	509
Recurring Basis \| Level 2 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	4,542	4,034
Other bond securities, at fair value (See note 6)	2,965	3,158
Recurring Basis \| Level 2 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	1
Recurring Basis \| Level 2 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	28	27
Recurring Basis \| Level 2 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	4	2
Recurring Basis \| Level 3
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	31,989	30,001
Other bond securities, at fair value (See note 6)	10,337	10,615
Equity securities available for sale		1
Other invested assets	5,990.0	5,930.0
Derivative assets, at fair value	202.0	179.0
Fair value assets measured on recurring basis, total	48,518	46,726
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	765	312
Derivative liabilities, at fair value	1,505	1,618
Long-term debt, portion measured at fair value	403	370
Fair value liabilities measured on recurring basis, total	2,673	2,300
Recurring Basis \| Level 3 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	35.0	41.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	133	141
Recurring Basis \| Level 3 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	89.0	49.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	1
Recurring Basis \| Level 3 \| Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	1.0	1.0
Recurring Basis \| Level 3 \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	41.0	55.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	1,226	1,335
Recurring Basis \| Level 3 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	36.0	33.0
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	145	142
Recurring Basis \| Level 3 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,042	1,080
Recurring Basis \| Level 3 \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	17	16
Recurring Basis \| Level 3 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1,815	1,255
Recurring Basis \| Level 3 \| Residential mortgage backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,764	14,941
Other bond securities, at fair value (See note 6)	1,069	937
Recurring Basis \| Level 3 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	5,741	5,735
Other bond securities, at fair value (See note 6)	770	844
Recurring Basis \| Level 3 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	6,610	6,974
Other bond securities, at fair value (See note 6)	8,498	8,834
Recurring Basis \| Level 3 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		1
Recurring Basis \| Counterparty Netting
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	(1,680.0)	(1,734.0)
Fair value assets measured on recurring basis, total	(1,680)	(1,734)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	(1,680)	(1,734)
Fair value liabilities measured on recurring basis, total	(1,680)	(1,734)
Recurring Basis \| Counterparty Netting \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	(1,680.0)	(1,734.0)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	(1,680)	(1,734)
Recurring Basis \| Cash Collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	(838.0)	(820.0)
Fair value assets measured on recurring basis, total	(838)	(820)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	(1,375)	(1,484)
Fair value liabilities measured on recurring basis, total	(1,375)	(1,484)
Recurring Basis \| Cash Collateral \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, at fair value	(838.0)	(820.0)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, at fair value	$ (1,375)	$ (1,484)

FAIR VALUE MEASUREMENTS (Details - Changes in Level 3 Recurring Fair Value Measurements) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	$ 46,547	$ 39,353
Net Realized and Unrealized Gains (Losses) Included in Income	740	626
Other Comprehensive Income (Loss)	436	690
Purchases, Sales, Issues and Settlements, Net	978	(12)
Gross Transfers in, assets	799	1,432
Gross Transfers out, assets	(1,184)	(729)
Balance End of Period	48,316	41,360
Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	196	40
Liabilities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(2,121)	(2,974)
Net Realized and Unrealized Gains (Losses) Included in Income	(390)	347
Other Comprehensive Income (Loss)	(9)	0
Purchases, Sales, Issues and Settlements-Net	51	86
Gross Transfers in, liabilities	(23)	(4)
Gross Transfers out, liabilities	21	0
Balance at the End of the Period	(2,471)	(2,545)
Liabilities \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	24	237
Policyholder contract deposits
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(312)	(1,257)
Net Realized and Unrealized Gains (Losses) Included in Income	(474)	205
Other Comprehensive Income (Loss)	(8)	0
Purchases, Sales, Issues and Settlements-Net	29	5
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(765)	(1,047)
Policyholder contract deposits \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(82)	28
Derivative liabilities, net
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(1,439)	(1,373)
Net Realized and Unrealized Gains (Losses) Included in Income	87	222
Other Comprehensive Income (Loss)	(1)	0
Purchases, Sales, Issues and Settlements-Net	3	62
Gross Transfers in, liabilities	47	(2)
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(1,303)	(1,091)
Derivative liabilities, net \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	99	217
Interest rate contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(100)	732
Net Realized and Unrealized Gains (Losses) Included in Income	(6)	11
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements-Net	8	13
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(98)	756
Interest rate contracts \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(1)	3
Foreign exchange contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements-Net	0	0
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Equity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	49	47
Net Realized and Unrealized Gains (Losses) Included in Income	(3)	28
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements-Net	(5)	(7)
Gross Transfers in, liabilities	47	(2)
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	88	66
Equity contracts \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(6)	12
Commodity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	1	1
Net Realized and Unrealized Gains (Losses) Included in Income	0	1
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements-Net	0	(1)
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	1	1
Commodity contracts \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	0	0
Credit contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(1,280)	(1,991)
Net Realized and Unrealized Gains (Losses) Included in Income	80	175
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements-Net	15	41
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(1,185)	(1,775)
Credit contracts \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	94	214
Other contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(109)	(162)
Net Realized and Unrealized Gains (Losses) Included in Income	16	7
Other Comprehensive Income (Loss)	(1)	0
Purchases, Sales, Issues and Settlements-Net	(15)	16
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(109)	(139)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	12	(12)
Other contracts \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	12	(12)
Long-term debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(370)	(344)
Net Realized and Unrealized Gains (Losses) Included in Income	(3)	(80)
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements-Net	19	19
Gross Transfers in, liabilities	(70)	(2)
Gross Transfers out, liabilities	21	0
Balance at the End of the Period	(403)	(407)
Long-term debt \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	7	(8)
Bonds available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	30,001	24,152
Net Realized and Unrealized Gains (Losses) Included in Income	281	238
Other Comprehensive Income (Loss)	382	699
Purchases, Sales, Issues and Settlements, Net	1,367	462
Gross Transfers in, assets	714	422
Gross Transfers out, assets	(756)	(499)
Balance End of Period	31,989	25,474
Bonds available for sale \| Obligations of states, municipalities and political subdivisions
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1,080	1,024
Net Realized and Unrealized Gains (Losses) Included in Income	0	1
Other Comprehensive Income (Loss)	117	(5)
Purchases, Sales, Issues and Settlements, Net	846	136
Gross Transfers in, assets	0	0
Gross Transfers out, assets	(1)	(137)
Balance End of Period	2,042	1,019
Bonds available for sale \| Non-U.S. government
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	16	14
Net Realized and Unrealized Gains (Losses) Included in Income	0	1
Other Comprehensive Income (Loss)	(1)	0
Purchases, Sales, Issues and Settlements, Net	2	2
Gross Transfers in, assets	0	1
Gross Transfers out, assets	0	0
Balance End of Period	17	18
Bonds available for sale \| Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1,255	1,487
Net Realized and Unrealized Gains (Losses) Included in Income	(3)	(4)
Other Comprehensive Income (Loss)	20	6
Purchases, Sales, Issues and Settlements, Net	4	22
Gross Transfers in, assets	648	77
Gross Transfers out, assets	(109)	(139)
Balance End of Period	1,815	1,449
Bonds available for sale \| Residential mortgage backed securities (RMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	14,941	11,662
Net Realized and Unrealized Gains (Losses) Included in Income	244	205
Other Comprehensive Income (Loss)	133	481
Purchases, Sales, Issues and Settlements, Net	557	(262)
Gross Transfers in, assets	0	10
Gross Transfers out, assets	(111)	0
Balance End of Period	15,764	12,096
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	5,735	5,124
Net Realized and Unrealized Gains (Losses) Included in Income	6	11
Other Comprehensive Income (Loss)	111	141
Purchases, Sales, Issues and Settlements, Net	(50)	(75)
Gross Transfers in, assets	0	154
Gross Transfers out, assets	(61)	(40)
Balance End of Period	5,741	5,315
Bonds available for sale \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	6,974	4,841
Net Realized and Unrealized Gains (Losses) Included in Income	34	24
Other Comprehensive Income (Loss)	2	76
Purchases, Sales, Issues and Settlements, Net	8	639
Gross Transfers in, assets	66	180
Gross Transfers out, assets	(474)	(183)
Balance End of Period	6,610	5,577
Other Bond securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	10,615	9,744
Net Realized and Unrealized Gains (Losses) Included in Income	380	318
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(438)	(461)
Gross Transfers in, assets	0	883
Gross Transfers out, assets	(220)	(136)
Balance End of Period	10,337	10,348
Other Bond securities \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	196	40
Other Bond securities \| Residential mortgage backed securities (RMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	937	396
Purchases, Sales, Issues and Settlements, Net	104	74
Other Bond securities \| Residential mortgage backed securities (RMBS) \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	16	(17)
Other Bond securities \| Commercial mortgage-backed securities (CMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	844	812
Purchases, Sales, Issues and Settlements, Net	(91)	(99)
Other Bond securities \| Commercial mortgage-backed securities (CMBS) \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	14	(25)
Other Bond securities \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	8,834	8,536
Purchases, Sales, Issues and Settlements, Net	(451)	(436)
Other Bond securities \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS) \| Trading Revenue
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	166	82
Equity securities available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1	68
Net Realized and Unrealized Gains (Losses) Included in Income	0	9
Other Comprehensive Income (Loss)	0	4
Purchases, Sales, Issues and Settlements, Net	0	(10)
Gross Transfers in, assets	0	0
Gross Transfers out, assets	(1)	0
Balance End of Period	0	71
Equity securities available for sale \| Common Stock
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1	24
Net Realized and Unrealized Gains (Losses) Included in Income	0	9
Other Comprehensive Income (Loss)	0	(1)
Purchases, Sales, Issues and Settlements, Net	0	(10)
Gross Transfers in, assets	0	0
Gross Transfers out, assets	(1)	0
Balance End of Period	0	22
Equity securities available for sale \| Preferred Stock
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	44
Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	5
Purchases, Sales, Issues and Settlements, Net	0	0
Gross Transfers in, assets	0	0
Gross Transfers out, assets	0	0
Balance End of Period	0	49
Equity securities available for sale \| Mutual Funds
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	0
Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	0	0
Gross Transfers in, assets	0	0
Gross Transfers out, assets	0	0
Balance End of Period	0	0
Other invested assets
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	5,930	5,389
Net Realized and Unrealized Gains (Losses) Included in Income	79	61
Other Comprehensive Income (Loss)	54	(13)
Purchases, Sales, Issues and Settlements, Net	49	(3)
Gross Transfers in, assets	85	127
Gross Transfers out, assets	(207)	(94)
Balance End of Period	$ 5,990	$ 5,467

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issues and settlements) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, Sales, Issues and Settlements, Net, assets	$ 978	$ (12)
Transfers into Level 3 at end of reporting period, net gains (losses) not included in realized and unrealized gains and losses related to Level 3 for the period	23	(72)
Transfers out Level 3 at end of reporting period, net gains (losses) not included in realized and unrealized gains and losses related to Level 3 for the period.	23	2
Liabilities [Member]
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, liabilities	1	3
Sales, liabilities	(12)	(10)
Settlements, liabilities	62	93
Purchases, Sales, Issues and Settlements, Net, liabilities	51	86
Policyholder contract deposits
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, liabilities	0	0
Sales, liabilities	(12)	(6)
Settlements, liabilities	41	11
Purchases, Sales, Issues and Settlements, Net, liabilities	29	5
Derivative liabilities, net
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, liabilities	1	3
Sales, liabilities	0	(4)
Settlements, liabilities	2	63
Purchases, Sales, Issues and Settlements, Net, liabilities	3	62
Long-term debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, liabilities	0	0
Sales, liabilities	0	0
Settlements, liabilities	19	19
Purchases, Sales, Issues and Settlements, Net, liabilities	19	19
Assets [Member]
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	2,886	2,588
Sales, assets	(102)	(656)
Settlements, assets	(1,806)	(1,944)
Purchases, Sales, Issues and Settlements, Net, assets	978	(12)
Bonds available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	2,428	2,032
Sales, assets	(84)	(558)
Settlements, assets	(977)	(1,012)
Purchases, Sales, Issues and Settlements, Net, assets	1,367	462
Bonds available for sale \| Obligations of states, municipalities and political subdivisions
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	888	158
Sales, assets	(5)	(22)
Settlements, assets	(37)	0
Purchases, Sales, Issues and Settlements, Net, assets	846	136
Bonds available for sale \| Non-U.S. government
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	2	3
Sales, assets	0	0
Settlements, assets	0	(1)
Purchases, Sales, Issues and Settlements, Net, assets	2	2
Bonds available for sale \| Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	56	97
Sales, assets	(7)	0
Settlements, assets	(45)	(75)
Purchases, Sales, Issues and Settlements, Net, assets	4	22
Bonds available for sale \| Residential mortgage backed securities (RMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	1,087	603
Sales, assets	(15)	(231)
Settlements, assets	(515)	(634)
Purchases, Sales, Issues and Settlements, Net, assets	557	(262)
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	65	373
Sales, assets	(57)	(146)
Settlements, assets	(58)	(302)
Purchases, Sales, Issues and Settlements, Net, assets	(50)	(75)
Bonds available for sale \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	330	798
Sales, assets	0	(159)
Settlements, assets	(322)	0
Purchases, Sales, Issues and Settlements, Net, assets	8	639
Other Bond securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	162	312
Sales, assets	(18)	(58)
Settlements, assets	(582)	(715)
Purchases, Sales, Issues and Settlements, Net, assets	(438)	(461)
Other Bond securities \| Residential mortgage backed securities (RMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	141	105
Sales, assets	(5)	0
Settlements, assets	(32)	(31)
Purchases, Sales, Issues and Settlements, Net, assets	104	74
Other Bond securities \| Commercial mortgage-backed securities (CMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	0	19
Sales, assets	(6)	(58)
Settlements, assets	(85)	(60)
Purchases, Sales, Issues and Settlements, Net, assets	(91)	(99)
Other Bond securities \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	21	188
Sales, assets	(7)	0
Settlements, assets	(465)	(624)
Purchases, Sales, Issues and Settlements, Net, assets	(451)	(436)
Equity securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets		1
Sales, assets		(10)
Settlements, assets		(1)
Purchases, Sales, Issues and Settlements, Net, assets		(10)
Other invested assets
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation
Purchases, assets	296	243
Sales, assets	0	(30)
Settlements, assets	(247)	(216)
Purchases, Sales, Issues and Settlements, Net, assets	$ 49	$ (3)

FAIR VALUE MEASUREMENTS (Details - Quantitative Information About Level 3 Fair Value Measurements - Assets) (Level 3, USD $) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Corporate debt \| Discounted cash flow
Fair value inputs, assets, quantitative information
Fair Value	$ 1,166	$ 788
Corporate debt \| Discounted cash flow \| Minimum
Fair value inputs, assets, quantitative information
Yield	2.87%	0.00%
Corporate debt \| Discounted cash flow \| Maximum
Fair value inputs, assets, quantitative information
Yield	8.28%	14.29%
Corporate debt \| Discounted cash flow \| Weighted-average
Fair value inputs, assets, quantitative information
Yield	5.57%	6.64%
Residential mortgage backed securities \| Discounted cash flow
Fair value inputs, assets, quantitative information
Fair Value	16,252	14,419
Residential mortgage backed securities \| Discounted cash flow \| Minimum
Fair value inputs, assets, quantitative information
Yield	2.59%	2.54%
Constant prepayment rate	0.00%	0.00%
Loss severity	43.85%	42.60%
Constant default rate	3.98%	3.98%
Residential mortgage backed securities \| Discounted cash flow \| Maximum
Fair value inputs, assets, quantitative information
Yield	6.85%	7.40%
Constant prepayment rate	10.13%	10.35%
Loss severity	79.75%	79.07%
Constant default rate	11.79%	12.22%
Residential mortgage backed securities \| Discounted cash flow \| Weighted-average
Fair value inputs, assets, quantitative information
Yield	4.72%	4.97%
Constant prepayment rate	5.05%	4.97%
Loss severity	61.80%	60.84%
Constant default rate	7.89%	8.10%
Certain CDO/ABS \| Discounted cash flow
Fair value inputs, assets, quantitative information
Fair Value	5,411	5,414
Certain CDO/ABS \| Discounted cash flow \| Minimum
Fair value inputs, assets, quantitative information
Yield	5.00%	5.20%
Constant prepayment rate	5.30%	5.20%
Loss severity	46.40%	48.60%
Constant default rate	2.90%	3.20%
Certain CDO/ABS \| Discounted cash flow \| Maximum
Fair value inputs, assets, quantitative information
Yield	10.80%	11.50%
Constant prepayment rate	13.30%	10.80%
Loss severity	61.30%	63.40%
Constant default rate	15.60%	16.20%
Certain CDO/ABS \| Discounted cash flow \| Weighted-average
Fair value inputs, assets, quantitative information
Yield	8.90%	9.40%
Constant prepayment rate	9.50%	8.20%
Loss severity	53.90%	56.40%
Constant default rate	8.40%	9.00%
Commercial mortgage backed securities \| Discounted cash flow
Fair value inputs, assets, quantitative information
Fair Value	6,017	5,847
Commercial mortgage backed securities \| Discounted cash flow \| Minimum
Fair value inputs, assets, quantitative information
Yield	0.00%	0.00%
Commercial mortgage backed securities \| Discounted cash flow \| Maximum
Fair value inputs, assets, quantitative information
Yield	13.70%	14.69%
Commercial mortgage backed securities \| Discounted cash flow \| Weighted-average
Fair value inputs, assets, quantitative information
Yield	5.09%	5.58%
CDO/ABS - Direct Investment book \| Binomial Expansion Technique
Fair value inputs, assets, quantitative information
Fair Value	565	557
CDO/ABS - Direct Investment book \| Binomial Expansion Technique \| Minimum
Fair value inputs, assets, quantitative information
Recovery rates	5.00%	6.00%
Diversity score	6	5
Weighted average life	1 year 3 months 18 days	1 year 0 months 25 days
CDO/ABS - Direct Investment book \| Binomial Expansion Technique \| Maximum
Fair value inputs, assets, quantitative information
Recovery rates	61.00%	63.00%
Diversity score	29	35
Weighted average life	10 years 6 months	9 years 5 months 19 days
CDO/ABS - Direct Investment book \| Binomial Expansion Technique \| Weighted-average
Fair value inputs, assets, quantitative information
Recovery rates	25.00%	25.00%
Diversity score	13.1	12
Weighted average life	5 years 3 months 18 days	4 years 10 months 10 days
Obligations of states, municipalities and political subdivisions \| Discounted cash flow
Fair value inputs, assets, quantitative information
Fair Value	$ 1,138	$ 920
Obligations of states, municipalities and political subdivisions \| Discounted cash flow \| Minimum
Fair value inputs, assets, quantitative information
Yield	4.44%	4.94%
Obligations of states, municipalities and political subdivisions \| Discounted cash flow \| Maximum
Fair value inputs, assets, quantitative information
Yield	5.30%	5.86%
Obligations of states, municipalities and political subdivisions \| Discounted cash flow \| Weighted-average
Fair value inputs, assets, quantitative information
Yield	4.87%	5.40%

FAIR VALUE MEASUREMENTS (Details - Quantitative Information About Level 3 Fair Value Measurements - Liabilities) (Level 3, USD $) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Policyholder contract deposits \| Discounted cash flow
Significant unobservable inputs used for recurring fair value measurements
Fair value	$ 765	$ 312
Policyholder contract deposits \| Discounted cash flow \| Minimum
Significant unobservable inputs used for recurring fair value measurements
Equity implied volatility	6.00%	6.00%
Base lapse rates	1.00%	1.00%
Dynamic lapse rates	0.20%	0.20%
Mortality rates	0.50%	0.50%
Utilization rates	0.50%	0.50%
Policyholder contract deposits \| Discounted cash flow \| Maximum
Significant unobservable inputs used for recurring fair value measurements
Equity implied volatility	39.00%	39.00%
Base lapse rates	40.00%	40.00%
Dynamic lapse rates	60.00%	60.00%
Mortality rates	40.00%	40.00%
Utilization rates	25.00%	25.00%
Derivative Liabilities - Credit contracts \| BET
Significant unobservable inputs used for recurring fair value measurements
Fair value	$ 909	$ 996
Derivative Liabilities - Credit contracts \| BET \| Minimum
Significant unobservable inputs used for recurring fair value measurements
Recovery rates	5.00%	5.00%
Diversity score	9	9
Weighted average life	4 years 1 month 13 days	4 years 6 months
Derivative Liabilities - Credit contracts \| BET \| Maximum
Significant unobservable inputs used for recurring fair value measurements
Recovery rates	34.00%	34.00%
Diversity score	33	32
Weighted average life	10 years 6 months 11 days	9 years 5 months 19 days
Derivative Liabilities - Credit contracts \| BET \| Weighted-average
Significant unobservable inputs used for recurring fair value measurements
Recovery rates	17.00%	17.00%
Diversity score	14	13
Weighted average life	5 years 9 months 25 days	5 years 7 months 17 days

FAIR VALUE MEASUREMENTS (Details - Investments in Certain Entities Carried at Fair Value Using Net Asset Value Per Share) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	$ 8,156.0	$ 7,732.0
Unfunded Commitments	1,116.0	977.0
Private equity funds:
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	3,408.0	3,347.0
Unfunded Commitments	1,092.0	949.0
Average original expected lives	10 years
Investment redemption notice period (in days/years)	1 Year
Second investment redemption notice period	2 years
Private equity funds: \| Expected remaining lives of 3 years or less
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
First threshold level of remaining lives	3 years
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	79.00%
Private equity funds: \| Expected remaining lives of less than 4 to 6 years
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Second threshold level of remaining lives	6 years
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	16.00%
Private equity funds: \| Expected remaining lives of less than 7 to 10 years
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Third threshold level of remaining lives	10 years
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	5.00%
Leveraged buyout
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	2,511.0	2,544.0
Unfunded Commitments	548.0	578.0
Real Estate / Infrastructure
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	424.0	346.0
Unfunded Commitments	275.0	86.0
Venture capital
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	133.0	140.0
Unfunded Commitments	11.0	13.0
Distressed
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	179.0	183.0
Unfunded Commitments	33.0	34.0
Other..
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	161.0	134.0
Unfunded Commitments	225.0	238.0
Hedge funds:
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	4,748.0	4,385.0
Unfunded Commitments	24.0	28.0
Hedge fund investments redeemable monthly (as a percent)	12.00%
Hedge fund investments redeemable quarterly (as a percent)	47.00%
Hedge fund investments redeemable semi-annually (as a percent)	17.00%
Hedge fund investments redeemable annually (as a percent)	24.00%
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	58.00%
Investment redemption notice period (in days/years)	1 day to 180 days
Event-driven
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	1,197.0	976.0
Unfunded Commitments	2.0	2.0
Long-short
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	2,026.0	1,759.0
Unfunded Commitments	8.0	11.0
Macro
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	438.0	612.0
Unfunded Commitments	0	0
Distressed.
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	623.0	594.0
Unfunded Commitments	14.0	15.0
Emerging markets
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	292.0	287.0
Unfunded Commitments	0	0
Other hedge funds
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using Net Asset Value Per Share or its equivalent	172.0	157.0
Unfunded Commitments	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Details - Gains or losses recorded related to the eligible instruments) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Fair Value, Option, Quantitative Disclosures
Fair value option credit risk gains (losses)	$ (11)	$ (34)
Fair Value Option
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	745	469
Fair Value Option \| Other long-term debt
Fair Value, Option, Quantitative Disclosures
Fair value option credit risk gains (losses)	(74)	9
Fair Value Option \| Other liabilities
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	(4)	(4)
Fair Value Option \| Mortgage and other loans receivable, net of allowance
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	0	1
Fair Value Option \| Bond and equity securities
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	666	376
Fair Value Option \| Alternative investments
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	154	84
Fair Value Option \| Short-term investments and other invested assets and Other assets
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	$ 3	$ 3

FAIR VALUE MEASUREMENTS (Details - Difference between fair values and the aggregate contractual principal amounts of long-term debt) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Long-term debt, Fair Value	$ 6,019	$ 6,747
Fair Value Option
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Long-term debt, Fair Value	6,019	6,747
Long-term debt, Outstanding Principal Amount	4,656	5,231
Long-term debt, Difference	$ 1,363	$ 1,516

- Definition

Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References+ Details

FAIR VALUE MEASUREMENTS (Details - Assets measured at fair value on a non-recurring basis at the time of impairment and the related impairment charges) (Fair value on a non-recurring basis, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014 Other Investments	Mar. 31, 2013 Other Investments	Mar. 31, 2014 Investments In Life Settlements [Member]	Mar. 31, 2013 Investments In Life Settlements [Member]	Mar. 31, 2014 Other assets	Mar. 31, 2013 Other assets	Dec. 31, 2013 Level 2	Dec. 31, 2013 Level 2 Other assets	Mar. 31, 2014 Level 3	Dec. 31, 2013 Level 3	Mar. 31, 2014 Level 3 Other Investments	Dec. 31, 2013 Level 3 Other Investments	Mar. 31, 2014 Level 3 Investments In Life Settlements [Member]	Dec. 31, 2013 Level 3 Investments In Life Settlements [Member]	Mar. 31, 2014 Level 3 Other assets	Dec. 31, 2013 Level 3 Other assets	Mar. 31, 2014 Total Fair Value	Dec. 31, 2013 Total Fair Value	Mar. 31, 2014 Total Fair Value Other Investments	Dec. 31, 2013 Total Fair Value Other Investments	Mar. 31, 2014 Total Fair Value Investments In Life Settlements [Member]	Dec. 31, 2013 Total Fair Value Investments In Life Settlements [Member]	Mar. 31, 2014 Total Fair Value Other assets	Dec. 31, 2013 Total Fair Value Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis									$ 11	$ 11	$ 1,781	$ 2,559	$ 1,510	$ 1,615	$ 270	$ 896	$ 1	$ 48	$ 1,781	$ 2,570	$ 1,510	$ 1,615	$ 270	$ 896	$ 1	$ 59
Impairment Charges	$ 78	$ 110	$ 35	$ 36	$ 42	$ 43	$ 1	$ 31

FAIR VALUE MEASUREMENTS (Details - financial instruments not measured at fair value and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Assets:
Mortgage and other loans receivable	$ 21,569	$ 20,765
Short-term investments	17,658	21,617
Cash	2,490	2,241	1,227	1,151
Liabilities:
Other liabilities	28,138	29,155
Total Fair Value
Assets:
Mortgage and other loans receivable	22,500	21,637
Other invested assets	3,300	3,234
Short-term investments	13,905	15,304
Cash	2,490	2,241
Liabilities:
Policyholder contract deposits associated with investment-type contracts	115,665	114,560
Other liabilities	3,418	4,870
Long-term debt	37,692	38,633
Level 1
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	2,490	2,241
Liabilities:
Policyholder contract deposits associated with investment-type contracts	0	0
Other liabilities	0	0
Long-term debt	0	0
Level 2
Assets:
Mortgage and other loans receivable	171	219
Other invested assets	573	529
Short-term investments	13,905	15,304
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	198	199
Other liabilities	3,418	4,869
Long-term debt	34,510	36,239
Level 3
Assets:
Mortgage and other loans receivable	22,329	21,418
Other invested assets	2,727	2,705
Short-term investments	0	0
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	115,467	114,361
Other liabilities	0	1
Long-term debt	3,182	2,394
Carrying Value
Assets:
Mortgage and other loans receivable	21,569	20,765
Other invested assets	4,245	4,194
Short-term investments	13,905	15,304
Cash	2,490	2,241
Liabilities:
Policyholder contract deposits associated with investment-type contracts	105,229	105,093
Other liabilities	3,418	4,869
Long-term debt	$ 33,489	$ 34,946

- Definition

+ References+ Details

- Definition

Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer.

+ References+ Details

INVESTMENTS (Details - Amortized cost or cost and fair value of Available for sale securities) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	$ 251,276,000,000	$ 250,257,000,000
Available for sale securities, Gross Unrealized Gains	18,357,000,000	16,360,000,000
Available for sale securities, Gross Unrealized Losses	(2,818,000,000)	(4,687,000,000)
Available for sale securities, Fair Value	266,815,000,000	261,930,000,000
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	34,100,000,000	32,600,000,000
AOCI- OTTI
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Total, Other-Than-Temporary Impairments in AOCI	2,053,000,000	1,916,000,000
Bonds available for sale
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	249,200,000,000	248,531,000,000
Available for sale securities, Gross Unrealized Gains	16,525,000,000	14,391,000,000
Available for sale securities, Gross Unrealized Losses	(2,788,000,000)	(4,648,000,000)
Available for sale securities, Fair Value	262,937,000,000	258,274,000,000
Bonds available for sale \| AOCI- OTTI
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Total, Other-Than-Temporary Impairments in AOCI	2,053,000,000	1,916,000,000
Bonds available for sale \| U.S. government and government sponsored entities
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	2,779,000,000	3,084,000,000
Available for sale securities, Gross Unrealized Gains	170,000,000	150,000,000
Available for sale securities, Gross Unrealized Losses	(27,000,000)	(39,000,000)
Available for sale securities, Fair Value	2,922,000,000	3,195,000,000
Bonds available for sale \| U.S. government and government sponsored entities \| AOCI- OTTI
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale \| Obligations of states, municipalities and political subdivisions
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	29,402,000,000	28,704,000,000
Available for sale securities, Gross Unrealized Gains	1,384,000,000	1,122,000,000
Available for sale securities, Gross Unrealized Losses	(197,000,000)	(446,000,000)
Available for sale securities, Fair Value	30,589,000,000	29,380,000,000
Bonds available for sale \| Obligations of states, municipalities and political subdivisions \| AOCI- OTTI
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Total, Other-Than-Temporary Impairments in AOCI	(15,000,000)	(15,000,000)
Bonds available for sale \| Non-U.S. government
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	21,317,000,000	22,045,000,000
Available for sale securities, Gross Unrealized Gains	826,000,000	822,000,000
Available for sale securities, Gross Unrealized Losses	(259,000,000)	(358,000,000)
Available for sale securities, Fair Value	21,884,000,000	22,509,000,000
Bonds available for sale \| Non-U.S. government \| AOCI- OTTI
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale \| Corporate debt
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	139,063,000,000	139,461,000,000
Available for sale securities, Gross Unrealized Gains	9,505,000,000	7,989,000,000
Available for sale securities, Gross Unrealized Losses	(1,577,000,000)	(2,898,000,000)
Available for sale securities, Fair Value	146,991,000,000	144,552,000,000
Bonds available for sale \| Corporate debt \| AOCI- OTTI
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Total, Other-Than-Temporary Impairments in AOCI	81,000,000	74,000,000
Bonds available for sale \| Mortgage-backed, asset-backed and collateralized
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	56,639,000,000	55,237,000,000
Available for sale securities, Gross Unrealized Gains	4,640,000,000	4,308,000,000
Available for sale securities, Gross Unrealized Losses	(728,000,000)	(907,000,000)
Available for sale securities, Fair Value	60,551,000,000	58,638,000,000
Bonds available for sale \| Mortgage-backed, asset-backed and collateralized \| AOCI- OTTI
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Total, Other-Than-Temporary Impairments in AOCI	1,987,000,000	1,857,000,000
Bonds available for sale \| Residential mortgage backed securities (RMBS)
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	34,340,000,000	33,520,000,000
Available for sale securities, Gross Unrealized Gains	3,354,000,000	3,101,000,000
Available for sale securities, Gross Unrealized Losses	(390,000,000)	(473,000,000)
Available for sale securities, Fair Value	37,304,000,000	36,148,000,000
Bonds available for sale \| Residential mortgage backed securities (RMBS) \| AOCI- OTTI
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Total, Other-Than-Temporary Impairments in AOCI	1,779,000,000	1,670,000,000
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	11,661,000,000	11,216,000,000
Available for sale securities, Gross Unrealized Gains	637,000,000	558,000,000
Available for sale securities, Gross Unrealized Losses	(203,000,000)	(292,000,000)
Available for sale securities, Fair Value	12,095,000,000	11,482,000,000
Bonds available for sale \| Commercial mortgage-backed securities (CMBS) \| AOCI- OTTI
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Total, Other-Than-Temporary Impairments in AOCI	168,000,000	125,000,000
Bonds available for sale \| Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	10,638,000,000	10,501,000,000
Available for sale securities, Gross Unrealized Gains	649,000,000	649,000,000
Available for sale securities, Gross Unrealized Losses	(135,000,000)	(142,000,000)
Available for sale securities, Fair Value	11,152,000,000	11,008,000,000
Bonds available for sale \| Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS) \| AOCI- OTTI
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Total, Other-Than-Temporary Impairments in AOCI	40,000,000	62,000,000
Equity securities available for sale
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	2,076,000,000	1,726,000,000
Available for sale securities, Gross Unrealized Gains	1,832,000,000	1,969,000,000
Available for sale securities, Gross Unrealized Losses	(30,000,000)	(39,000,000)
Available for sale securities, Fair Value	3,878,000,000	3,656,000,000
Equity securities available for sale \| Common Stock
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	1,287,000,000	1,280,000,000
Available for sale securities, Gross Unrealized Gains	1,806,000,000	1,953,000,000
Available for sale securities, Gross Unrealized Losses	(14,000,000)	(14,000,000)
Available for sale securities, Fair Value	3,079,000,000	3,219,000,000
Equity securities available for sale \| Preferred Stock
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	25,000,000	24,000,000
Available for sale securities, Gross Unrealized Gains	4,000,000	4,000,000
Available for sale securities, Gross Unrealized Losses	(1,000,000)	(1,000,000)
Available for sale securities, Fair Value	28,000,000	27,000,000
Equity securities available for sale \| Mutual Funds
Reconciliation of amortized cost and fair value of available for sale securities and other invested assets carried at fair value
Available for sale securities, Amortized Cost or Cost	764,000,000	422,000,000
Available for sale securities, Gross Unrealized Gains	22,000,000	12,000,000
Available for sale securities, Gross Unrealized Losses	(15,000,000)	(24,000,000)
Available for sale securities, Fair Value	$ 771,000,000	$ 410,000,000

INVESTMENTS (Details - Summary of fair value and gross unrealized losses on available for sale securities aggregated by major investment category and length of time in a continuous unrealized loss position) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 47,275	$ 64,881
Gross Unrealized Losses, Less than 12 Months	1,718	3,507
Fair Value, 12 Months or More	11,684	9,401
Gross Unrealized Losses, 12 Months or More	1,100	1,180
Fair Value, Total	58,959	74,282
Gross Unrealized Losses, Total	2,818	4,687
Bonds available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	46,852	64,411
Gross Unrealized Losses, Less than 12 Months	1,688	3,468
Fair Value, 12 Months or More	11,684	9,401
Gross Unrealized Losses, 12 Months or More	1,100	1,180
Fair Value, Total	58,536	73,812
Gross Unrealized Losses, Total	2,788	4,648
Number of securities in an unrealized loss position	6,426.0
Number of individual securities in continuous unrealized loss position for longer than twelve months	1,008.0
Bonds available for sale \| U.S. government and government sponsored entities
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	683	1,101
Gross Unrealized Losses, Less than 12 Months	21	34
Fair Value, 12 Months or More	75	42
Gross Unrealized Losses, 12 Months or More	6	5
Fair Value, Total	758	1,143
Gross Unrealized Losses, Total	27	39
Bonds available for sale \| Obligations of states, municipalities and political subdivisions
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	3,806	6,134
Gross Unrealized Losses, Less than 12 Months	131	379
Fair Value, 12 Months or More	562	376
Gross Unrealized Losses, 12 Months or More	66	67
Fair Value, Total	4,368	6,510
Gross Unrealized Losses, Total	197	446
Bonds available for sale \| Non-U.S. government
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	4,049	4,102
Gross Unrealized Losses, Less than 12 Months	144	217
Fair Value, 12 Months or More	796	710
Gross Unrealized Losses, 12 Months or More	115	141
Fair Value, Total	4,845	4,812
Gross Unrealized Losses, Total	259	358
Bonds available for sale \| Corporate debt
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	25,341	38,495
Gross Unrealized Losses, Less than 12 Months	938	2,251
Fair Value, 12 Months or More	6,649	4,926
Gross Unrealized Losses, 12 Months or More	639	647
Fair Value, Total	31,990	43,421
Gross Unrealized Losses, Total	1,577	2,898
Bonds available for sale \| Residential mortgage backed securities (RMBS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	8,100	8,543
Gross Unrealized Losses, Less than 12 Months	283	349
Fair Value, 12 Months or More	1,391	1,217
Gross Unrealized Losses, 12 Months or More	107	124
Fair Value, Total	9,491	9,760
Gross Unrealized Losses, Total	390	473
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	2,447	3,191
Gross Unrealized Losses, Less than 12 Months	115	176
Fair Value, 12 Months or More	1,115	1,215
Gross Unrealized Losses, 12 Months or More	88	116
Fair Value, Total	3,562	4,406
Gross Unrealized Losses, Total	203	292
Bonds available for sale \| Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	2,426	2,845
Gross Unrealized Losses, Less than 12 Months	56	62
Fair Value, 12 Months or More	1,096	915
Gross Unrealized Losses, 12 Months or More	79	80
Fair Value, Total	3,522	3,760
Gross Unrealized Losses, Total	135	142
Equity securities available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	423	470
Gross Unrealized Losses, Less than 12 Months	30	39
Fair Value, 12 Months or More	0	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	423	470
Gross Unrealized Losses, Total	30	39
Number of securities in an unrealized loss position	126.0
Equity securities available for sale \| Common Stock
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	102	96
Gross Unrealized Losses, Less than 12 Months	14	14
Fair Value, 12 Months or More	0	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	102	96
Gross Unrealized Losses, Total	14	14
Equity securities available for sale \| Preferred Stock
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	4	5
Gross Unrealized Losses, Less than 12 Months	1	1
Fair Value, 12 Months or More	0	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	4	5
Gross Unrealized Losses, Total	1	1
Equity securities available for sale \| Mutual Funds
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	317	369
Gross Unrealized Losses, Less than 12 Months	15	24
Fair Value, 12 Months or More	0	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	317	369
Gross Unrealized Losses, Total	$ 15	$ 24

INVESTMENTS (Details - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fixed Maturity Available for Sale Securities by Contractual Maturity
Fixed Maturity Securities in a Loss Position Available for Sale , Amortized Cost, Total	$ 251,276	$ 250,257
Fixed Maturity Securities Available for Sale, Fair Value, Total	262,937	258,274
Fixed Maturity Securities in a Loss Position AFS
Fixed Maturity Available for Sale Securities by Contractual Maturity
Due in one year or less, Amortized Cost	830
Due after one year through five years, Amortized Cost	6,918
Due after five years through ten years, Amortized Cost	15,703
Due after ten years, Amortized Cost	20,570
Mortgage-backed, asset-backed and collateralized, Amortized Cost	17,303
Fixed Maturity Securities in a Loss Position Available for Sale , Amortized Cost, Total	61,324
Due in one year or less, Fair Value	817
Due after one year through five years, Fair Value	6,799
Due after five years through ten years, Fair Value	15,099
Due after ten years, Fair Value	19,246
Mortgage-backed, asset-backed and collateralized, Fair Value	16,575
Fixed Maturity Securities Available for Sale, Fair Value, Total	58,536
Bonds available for sale
Fixed Maturity Available for Sale Securities by Contractual Maturity
Due in one year or less, Amortized Cost	10,275
Due after one year through five years, Amortized Cost	50,565
Due after five years through ten years, Amortized Cost	68,663
Due after ten years, Amortized Cost	63,058
Mortgage-backed, asset-backed and collateralized, Amortized Cost	56,639
Fixed Maturity Securities in a Loss Position Available for Sale , Amortized Cost, Total	249,200	248,531
Due in one year or less, Fair Value	10,455
Due after one year through five years, Fair Value	53,380
Due after five years through ten years, Fair Value	71,911
Due after ten years, Fair Value	66,640
Mortgage-backed, asset-backed and collateralized, Fair Value	60,551
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 262,937

INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Available-for-sale Securities Disclosures
Gross Realized Gains	$ 246,000,000	$ 408,000,000
Aggregate fair value of available for sale securities sold	6,100,000,000	7,000,000,000
Net realized capital gains (losses)	200,000,000	300,000,000
Gross Realized Losses	33,000,000	74,000,000
Fixed maturity securities
Available-for-sale Securities Disclosures
Gross Realized Gains	216,000,000	371,000,000
Gross Realized Losses	31,000,000	71,000,000
Equity securities available for sale
Available-for-sale Securities Disclosures
Gross Realized Gains	30,000,000	37,000,000
Gross Realized Losses	$ 2,000,000	$ 3,000,000

INVESTMENTS (Details - Value of other securities measured at fair value based on election of the fair value option) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014 U.S. Government agency backed ABS	Mar. 31, 2013 U.S. Government agency backed ABS	Mar. 31, 2014 Fixed maturity securities	Dec. 31, 2013 Fixed maturity securities	Mar. 31, 2014 Fixed maturity securities U.S. government and government sponsored entities	Dec. 31, 2013 Fixed maturity securities U.S. government and government sponsored entities	Mar. 31, 2014 Fixed maturity securities Obligations of states, municipalities and political subdivisions	Dec. 31, 2013 Fixed maturity securities Obligations of states, municipalities and political subdivisions	Mar. 31, 2014 Fixed maturity securities Non-U.S. government	Dec. 31, 2013 Fixed maturity securities Non-U.S. government	Mar. 31, 2014 Fixed maturity securities Corporate debt	Dec. 31, 2013 Fixed maturity securities Corporate debt	Mar. 31, 2014 Fixed maturity securities Mortgage-backed, asset-backed and collateralized	Dec. 31, 2013 Fixed maturity securities Mortgage-backed, asset-backed and collateralized	Mar. 31, 2014 Fixed maturity securities Residential mortgage backed securities (RMBS)	Dec. 31, 2013 Fixed maturity securities Residential mortgage backed securities (RMBS)	Mar. 31, 2014 Fixed maturity securities Commercial mortgage-backed securities (CMBS)	Dec. 31, 2013 Fixed maturity securities Commercial mortgage-backed securities (CMBS)	Mar. 31, 2014 Fixed maturity securities Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)	Dec. 31, 2013 Fixed maturity securities Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)	Mar. 31, 2014 Fixed maturity securities Other	Dec. 31, 2013 Fixed maturity securities Other	Mar. 31, 2014 Equity securities	Dec. 31, 2013 Equity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 22,443	$ 23,457	$ 1,000	$ 1,000	$ 21,718	$ 22,623	$ 5,394	$ 5,723	$ 122	$ 121	$ 2	$ 2	$ 1,108	$ 1,169	$ 15,085	$ 15,601	$ 2,351	$ 2,263	$ 1,278	$ 1,353	$ 11,456	$ 11,985	$ 7	$ 7	$ 725	$ 834
Other Securities, Percent of Total	100.00%	100.00%			97.00%	97.00%	24.00%	24.00%	1.00%	1.00%	0.00%	0.00%	5.00%	5.00%	67.00%	67.00%	10.00%	10.00%	6.00%	6.00%	51.00%	51.00%			3.00%	3.00%

INVESTMENTS (Details - Components of Net investment income) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
COMPONENTS OF NET INVESTMENT INCOME
Total investment income	$ 4,328.0	$ 4,312.0
Investment expenses	132.0	148.0
Net investment income	4,196	4,164
Fixed maturity securities, including short-term investments
COMPONENTS OF NET INVESTMENT INCOME
Total investment income	3,131.0	3,045.0
Equity securities
COMPONENTS OF NET INVESTMENT INCOME
Total investment income	(85.0)	37.0
Interest on mortgage and other loans
COMPONENTS OF NET INVESTMENT INCOME
Total investment income	318.0	280.0
Alternative investments
COMPONENTS OF NET INVESTMENT INCOME
Total investment income	925.0	866.0
Real estate
COMPONENTS OF NET INVESTMENT INCOME
Total investment income	28.0	31.0
Other investments
COMPONENTS OF NET INVESTMENT INCOME
Total investment income	$ 11.0	$ 53.0

INVESTMENTS (Details - Components of Net realized capital gains (losses)) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Other-than-temporary impairments:
Severity	$ 0	$ (2)
Change in intent	(5)	(3)
Foreign currency declines	(4)	0
Issuer-specific credit events	(68)	(63)
Adverse projected cash flows	(1)	(6)
Provision for loan losses	5	(3)
Foreign exchange transactions	26	329
Derivative instruments	(350)	(271)
Impairments on investments in life settlements	(42)	(43)
Other	13	28
Total net realized capital gains (losses)	(213)	300
Fixed maturity securities
Components of net realized capital gains (losses)
Sale of fixed maturity securities	185	300
Equity securities
Components of net realized capital gains (losses)
Sale of fixed maturity securities	$ 28	$ 34

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ 3,939	$ (1,193)
Fixed maturity securities
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	3,994	(1,152)
Equity securities
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	(128)	7
Other investments
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ 73	$ (48)

INVESTMENTS (Details - Rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings) (Fixed maturity securities, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Fixed maturity securities
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 3,872	$ 5,164
Increases due to:
Credit impairments on new securities subject to impairment losses	8	17
Additional credit impairments on previously impaired securities	36	18
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(330)	(391)
Accretion on securities previously impaired due to credit	(188)	(205)
Other	(9)	0
Balance, end of year	$ 3,389	$ 4,603

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Purchased Credit Impaired (PCI) Securities
Amortized cost	$ 249,200		$ 248,531
Fair value	266,815		261,930
Purchased Credit Impaired (PCI) Securities
Purchased Credit Impaired (PCI) Securities
Contractually required payments (principal and interest)	27,484
Cash flows expected to be collected	21,919
Recorded investment in acquired securities	14,437
Outstanding principal balance	15,923		14,741
Amortized cost	11,235		10,110
Fair value	12,547		11,338
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of year	6,940	4,766
Newly purchased PCI securities	522	345
Disposals	0	(60)
Accretion	(212)	(160)
Effect of changes in interest rate indices	(59)	84
Net reclassification from non-accretable difference, including effects of prepayments	(21)	139
Balance, end of year	$ 7,170	$ 5,114

INVESTMENTS (Details - Pledged Investments) (USD $)	3 Months Ended	12 Months Ended
INVESTMENTS (Details - Pledged Investments) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Pledged Investments
Fair Value of securities pledged	$ 8,166,000,000	$ 8,878,000,000
Fair value of amount repledged	66,000,000	71,000,000
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	6,700,000,000	6,700,000,000
FHLBs
Pledged Investments
Fair value of available for sale securities	529,000,000	80,000,000
Amount owned by subsidiaries	55,000,000	57,000,000
Secured financing
Pledged Investments
Fair value of available for sale securities	2,402,000,000	3,907,000,000
Fair Value of other securities	2,722,000,000	2,766,000,000
GIAs
Pledged Investments
Fair Value of other securities	$ 3,800,000,000	$ 4,200,000,000

LENDING ACTIVITIES (Details - Composition of Mortgage and other loans receivable) (USD $)									3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2014 Commercial mortgages	Dec. 31, 2013 Commercial mortgages	Mar. 31, 2013 Commercial mortgages	Dec. 31, 2012 Commercial mortgages	Mar. 31, 2014 Commercial mortgages California	Dec. 31, 2013 Commercial mortgages California	Mar. 31, 2014 Commercial mortgages New York	Dec. 31, 2013 Commercial mortgages New York	Mar. 31, 2014 Life insurance policy loans	Dec. 31, 2013 Life insurance policy loans	Mar. 31, 2014 Commercial loans, other loans and notes receivable	Dec. 31, 2013 Commercial loans, other loans and notes receivable
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable	$ 21,868,000,000	$ 21,077,000,000			$ 16,672,000,000	$ 16,195,000,000							$ 2,777,000,000	$ 2,830,000,000	$ 2,419,000,000	$ 2,052,000,000
Allowance for losses	(299,000,000)	(312,000,000)	(385,000,000)	(405,000,000)	(200,000,000)	(201,000,000)	(165,000,000)	(159,000,000)
Mortgage and other loans receivable, net	$ 21,569,000,000	$ 20,765,000,000
Percentage of mortgage loans in geographic area									17.00%	18.00%	17.00%	17.00%

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgages) (USD $) In Millions, unless otherwise specified																	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2014 Apartments	Dec. 31, 2013 Apartments	Mar. 31, 2014 Offices	Dec. 31, 2013 Offices	Mar. 31, 2014 Retail	Dec. 31, 2013 Retail	Mar. 31, 2014 Industrial	Dec. 31, 2013 Industrial	Mar. 31, 2014 Hotel	Dec. 31, 2013 Hotel	Mar. 31, 2014 Others	Dec. 31, 2013 Others	Mar. 31, 2014 Commercial mortgages loan	Dec. 31, 2013 Commercial mortgages loan
Credit quality indicators for commercial mortgage loans
Number of loans in good standing																	977	978
Number of loans restructured																	10	9
Number of loans 90 days or less delinquent																	3	2
Number of loans greater than 90 days delinquent or in process of foreclosure																	5	6
Number of Loans																	995	995
In good standing					$ 2,798	$ 2,786	$ 4,643	$ 4,636	$ 3,551	$ 3,364	$ 1,735	$ 1,607	$ 1,462	$ 1,431	$ 2,000	$ 1,970	$ 16,189	$ 15,794
Restructured					54	53	283	210	7	6	0	0	0	0	85	85	429	354
90 days or less delinquent					0	0	11	0	5	5	0	0	0	0	0	0	16	5
Greater than 90 days delinquent or in process of foreclosure					0	0	38	42	0	0	0	0	0	0	0	0	38	42
Mortgage and other loans receivable, net	21,569	20,765			2,852	2,839	4,975	4,888	3,563	3,375	1,735	1,607	1,462	1,431	2,085	2,055	16,672	16,195
Allowance for losses	$ 299.0	$ 312.0	$ 385.0	$ 405.0	$ 11.0	$ 10.0	$ 114.0	$ 109.0	$ 8.0	$ 9.0	$ 20.0	$ 19.0	$ 3.0	$ 3.0	$ 44.0	$ 51.0	$ 200.0	$ 201.0
Percentage of loans that are current as to payments of principal and interest																	97.00%	98.00%
Percentage restructured																	3.00%	2.00%
Percentage Total																	100.00%	100.00%
Percentage of loans with allowance for losses																	1.00%	1.00%
Percentage of current commercial mortgages held																	99.00%
Percentage greater than 90 days delinquent or in foreclosure																	0.00%

LENDING ACTIVITIES (Details - Allowance for Loan Losses) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 312.0	$ 405.0
Loans charged off		(23)
Recoveries of loans previously charged off		1
Net charge-offs		(22)
Provision for loan losses	(13)	3
Other		(1)
Allowance, end of period	299.0	385.0
Loans modified in a troubled debt restructuring	0	0
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	201.0	159.0
Loans charged off		(1)
Net charge-offs		(1)
Provision for loan losses	(1)	7
Allowance, end of period	200.0	165.0
Allowance related to individually assessed credit losses	98.0	53.0
Commercial mortgage loans	281.0	208.0
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	111.0	246.0
Loans charged off		(22)
Recoveries of loans previously charged off		1
Net charge-offs		(21)
Provision for loan losses	(12)	(4)
Other		(1)
Allowance, end of period	$ 99.0	$ 220.0

VARIABLE INTEREST ENTITIES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Assets:
Bonds available for sale	$ 266,815,000,000	$ 261,930,000,000
Other bond securities	21,718,000,000	22,623,000,000
Mortgage and other loans receivable	21,569,000,000	20,765,000,000
Other invested assets	29,050,000,000	28,659,000,000
Real estate and investment funds
Liabilities:
Off-balance sheet exposure	50,800,000	50,800,000
Consolidated VIE
Assets:
Bonds available for sale	11,419,000,000	11,098,000,000
Other bond securities	8,846,000,000	8,310,000,000
Mortgage and other loans receivable	1,913,000,000	1,697,000,000
Other invested assets	3,356,000,000	3,628,000,000
Other assets	1,618,000,000	1,279,000,000
Total assets	27,152,000,000	26,012,000,000
Liabilities:
Long-term debt	1,793,000,000	994,000,000
Other liabilities	641,000,000	555,000,000
Total liabilities	2,434,000,000	1,549,000,000
Consolidated VIE \| Real estate and investment funds
Assets:
Other invested assets	654,000,000	849,000,000
Other assets	48,000,000	49,000,000
Total assets	702,000,000	898,000,000
Liabilities:
Long-term debt	70,000,000	71,000,000
Other liabilities	37,000,000	31,000,000
Total liabilities	107,000,000	102,000,000
Consolidated VIE \| Securitization vehicles
Assets:
Bonds available for sale	11,362,000,000	11,028,000,000
Other bond securities	8,002,000,000	7,449,000,000
Mortgage and other loans receivable	1,731,000,000	1,508,000,000
Other assets	800,000,000	481,000,000
Total assets	21,895,000,000	20,466,000,000
Liabilities:
Long-term debt	1,265,000,000	494,000,000
Other liabilities	295,000,000	74,000,000
Total liabilities	1,560,000,000	568,000,000
Investment-grade debt securities, loans and other assets	21,800,000,000	21,400,000,000
Consolidated VIE \| Structured investment vehicle
Assets:
Other bond securities	731,000,000	748,000,000
Other assets	111,000,000	93,000,000
Total assets	842,000,000	841,000,000
Liabilities:
Long-term debt	98,000,000	87,000,000
Other liabilities	1,000,000
Total liabilities	99,000,000	87,000,000
Consolidated VIE \| Affordable housing partnerships
Assets:
Other invested assets	1,941,000,000	1,986,000,000
Other assets	45,000,000	41,000,000
Total assets	1,986,000,000	2,027,000,000
Liabilities:
Long-term debt	224,000,000	188,000,000
Other liabilities	87,000,000	83,000,000
Total liabilities	311,000,000	271,000,000
Consolidated VIE \| Other
Assets:
Bonds available for sale	57,000,000	70,000,000
Other bond securities	113,000,000	113,000,000
Mortgage and other loans receivable	182,000,000	189,000,000
Other invested assets	761,000,000	793,000,000
Other assets	614,000,000	615,000,000
Total assets	1,727,000,000	1,780,000,000
Liabilities:
Long-term debt	136,000,000	154,000,000
Other liabilities	221,000,000	367,000,000
Total liabilities	357,000,000	521,000,000
Unconsolidated VIE
Assets:
Other invested assets	2,900,000,000	2,800,000,000
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	19,421,000,000	18,758,000,000
Maximum Exposure to Loss, On-Balance Sheet	2,953,000,000	2,857,000,000
Maximum Exposure to Loss, Off-Balance Sheet	369,000,000	289,000,000
Total maximum exposure to loss	3,322,000,000	3,146,000,000
Unconsolidated VIE \| Real estate and investment funds
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	18,334,000,000	17,572,000,000
Maximum Exposure to Loss, On-Balance Sheet	2,446,000,000	2,343,000,000
Maximum Exposure to Loss, Off-Balance Sheet	369,000,000	289,000,000
Total maximum exposure to loss	2,815,000,000	2,632,000,000
Unconsolidated VIE \| Affordable housing partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	478,000,000	478,000,000
Maximum Exposure to Loss, On-Balance Sheet	478,000,000	477,000,000
Total maximum exposure to loss	478,000,000	477,000,000
Unconsolidated VIE \| Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	609,000,000	708,000,000
Maximum Exposure to Loss, On-Balance Sheet	29,000,000	37,000,000
Total maximum exposure to loss	$ 29,000,000	$ 37,000,000

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of derivative instruments) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	$ 94,695.0	$ 114,494.0
Gross Derivative Assets, Fair Value	4,119.0	4,326.0
Gross Derivative Liabilities, Notional Amount	113,226.0	92,063.0
Gross Derivative Liabilities, Fair Value	6,942.0	6,214.0
Bifurcated embedded derivatives
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	0
Gross Derivative Assets, Fair Value	0
Gross Derivative Liabilities, Notional Amount	32,000.0	6,700.0
Gross Derivative Liabilities, Fair Value	782.0	424.0
Derivatives designated as hedging instruments \| Interest rate contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	0
Gross Derivative Assets, Fair Value	0
Gross Derivative Liabilities, Notional Amount	114.0	112.0
Gross Derivative Liabilities, Fair Value	13.0	15.0
Derivatives designated as hedging instruments \| Foreign exchange contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	210.0
Gross Derivative Assets, Fair Value	2.0
Gross Derivative Liabilities, Notional Amount	1,752.0	1,857.0
Gross Derivative Liabilities, Fair Value	153.0	190.0
Derivatives designated as hedging instruments \| Equity contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	80.0
Gross Derivative Assets, Fair Value	4.0
Gross Derivative Liabilities, Notional Amount	25.0
Gross Derivative Liabilities, Fair Value	0
Derivatives not designated as hedging instruments
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	94,405.0	114,494.0
Gross Derivative Assets, Fair Value	4,113.0	4,326.0
Gross Derivative Liabilities, Notional Amount	111,335.0	90,094.0
Gross Derivative Liabilities, Fair Value	6,776.0	6,009.0
Derivatives not designated as hedging instruments \| Interest rate contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	54,735.0	50,897.0
Gross Derivative Assets, Fair Value	3,797.0	3,771.0
Gross Derivative Liabilities, Notional Amount	58,374.0	59,585.0
Gross Derivative Liabilities, Fair Value	4,399.0	3,849.0
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	2,091.0	1,774.0
Gross Derivative Assets, Fair Value	35.0	52.0
Gross Derivative Liabilities, Notional Amount	3,840.0	3,789.0
Gross Derivative Liabilities, Fair Value	101.0	129.0
Derivatives not designated as hedging instruments \| Equity contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	4,106.0	29,296.0
Gross Derivative Assets, Fair Value	203.0	413.0
Gross Derivative Liabilities, Notional Amount	32,531.0	9,840.0
Gross Derivative Liabilities, Fair Value	875.0	524.0
Derivatives not designated as hedging instruments \| Commodity contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	17.0	17.0
Gross Derivative Assets, Fair Value	1.0	1.0
Gross Derivative Liabilities, Notional Amount	13.0	13.0
Gross Derivative Liabilities, Fair Value	4.0	5.0
Derivatives not designated as hedging instruments \| Credit contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	60.0	70.0
Gross Derivative Assets, Fair Value	41.0	55.0
Gross Derivative Liabilities, Notional Amount	15,252.0	15,459.0
Gross Derivative Liabilities, Fair Value	1,226.0	1,335.0
Derivatives not designated as hedging instruments \| Other contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	33,396.0	32,440.0
Gross Derivative Assets, Fair Value	36.0	34.0
Gross Derivative Liabilities, Notional Amount	1,325.0	1,408.0
Gross Derivative Liabilities, Fair Value	171.0	167.0
Derivatives not designated as hedging instruments \| Bifurcated embedded derivatives
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount		23,200.0
Gross Derivative Assets, Fair Value		$ 107.0

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Notional amounts and fair values of AIG's derivative instruments
Derivative Assets, Notional Amount	$ 94,695,000,000	$ 114,494,000,000
Derivative Assets, Fair Value	4,119,000,000	4,326,000,000
Derivative Liabilities, Notional Amount	113,226,000,000	92,063,000,000
Derivative Liabilities, Fair Value	6,942,000,000	6,214,000,000
Derivative assets, Counterparty netting	(1,680,000,000)	(1,734,000,000)
Derivative assets, Cash collateral	(838,000,000)	(820,000,000)
Total derivative assets, net	1,601,000,000	1,772,000,000
Derivative liabilities, Counterparty netting	(1,680,000,000)	(1,734,000,000)
Derivative liabilities, Cash collateral	(1,375,000,000)	(1,484,000,000)
Total derivative liabilities, net	3,887,000,000	2,996,000,000
Less: Bifurcated embedded derivatives assets, fair value	0	107,000,000
Less: Bifurcated embedded derivative liabilities, fair value	848,000,000	485,000,000
Total derivative assets on consolidated balance sheet	1,601,000,000	1,665,000,000
Total derivative liabilities on consolidated balance sheet	3,039,000,000	2,511,000,000
Collateral
Collateral posted to third parties for derivative transactions	3,000,000,000	3,200,000,000
Collateral obtained from third parties for derivative transactions	1,100,000,000	1,000,000,000
Non-Global Capital Markets \| Global Capital Markets (GCM) derivatives
Notional amounts and fair values of AIG's derivative instruments
Derivative Assets, Notional Amount	38,080,000,000	60,021,000,000
Derivative Assets, Fair Value	633,000,000	795,000,000
Derivative Liabilities, Notional Amount	41,320,000,000	15,668,000,000
Derivative Liabilities, Fair Value	1,593,000,000	1,202,000,000
Other Operations \| Global Capital Markets (GCM) derivatives
Notional amounts and fair values of AIG's derivative instruments
Derivative Assets, Notional Amount	56,615,000,000	54,473,000,000
Derivative Assets, Fair Value	3,486,000,000	3,531,000,000
Derivative Liabilities, Notional Amount	71,906,000,000	76,395,000,000
Derivative Liabilities, Fair Value	5,349,000,000	5,012,000,000
Other Operations \| AIG Financial Products
Notional amounts and fair values of AIG's derivative instruments
Derivative Assets, Notional Amount	41,629,000,000	41,942,000,000
Derivative Assets, Fair Value	2,470,000,000	2,567,000,000
Derivative Liabilities, Notional Amount	52,643,000,000	52,679,000,000
Derivative Liabilities, Fair Value	3,850,000,000	3,506,000,000
Other Operations \| AIG Markets
Notional amounts and fair values of AIG's derivative instruments
Derivative Assets, Notional Amount	14,986,000,000	12,531,000,000
Derivative Assets, Fair Value	1,016,000,000	964,000,000
Derivative Liabilities, Notional Amount	19,263,000,000	23,716,000,000
Derivative Liabilities, Fair Value	$ 1,499,000,000	$ 1,506,000,000

DERIVATIVES AND HEDGE ACCOUNTING (Details - Hedge Accounting) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivative instruments gain (loss):
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	$ 3	$ 130
Net realized capital gains (losses)
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	1
Loss on extinguishment of debt
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on hedged items	50
Interest credited to policyholder account balances
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	1
Derivatives designated as hedging instruments \| Fair value hedging \| Interest credited to policyholder account balances
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on hedged items	0	0
Derivatives designated as hedging instruments \| Interest rate contracts \| Fair value hedging
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	2	0
Gain (loss) recognized in earnings on hedged items	65	30
Amortization of debt basis adjustment following the discontinuation of hedge accounting	18	30
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Fair value hedging
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	24	(5)
Gain (loss) recognized in earnings on hedged items	(32)	4
Gain (loss) recognized in earnings for amounts excluded from effectiveness testing	(8)	(1)
Derivatives not designated as hedging instruments
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	(201)	202
Derivatives not designated as hedging instruments \| Policy fees
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	68	45
Derivatives not designated as hedging instruments \| Net investment income
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	14	24
Derivatives not designated as hedging instruments \| Net realized capital gains (losses)
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	(337)	(276)
Derivatives not designated as hedging instruments \| Other income (losses)
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	49	412
Derivatives not designated as hedging instruments \| Policyholder benefits and claims incurred
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	5	(3)
Derivatives not designated as hedging instruments \| Interest rate contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	139	(216)
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	(14)	155
Derivatives not designated as hedging instruments \| Equity contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	(422)	44
Embedded derivative gains (losses)	(389)	256
Derivatives not designated as hedging instruments \| Commodity contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	1	0
Derivatives not designated as hedging instruments \| Credit contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	80	175
Derivatives not designated as hedging instruments \| Other contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	$ 15	$ 44

DERIVATIVES AND HEDGE ACCOUNTING (Details - Global Capital Market Derivatives) (USD $)					3 Months Ended			3 Months Ended			3 Months Ended			3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014 Credit Risk-Related Contingent Features	Dec. 31, 2013 Credit Risk-Related Contingent Features	Mar. 31, 2014 Global Capital Markets (GCM) derivatives Super Senior CDS Arbitrage	Mar. 31, 2013 Global Capital Markets (GCM) derivatives Super Senior CDS Arbitrage	Dec. 31, 2013 Global Capital Markets (GCM) derivatives Super Senior CDS Arbitrage	Mar. 31, 2014 Global Capital Markets (GCM) derivatives Super Senior CDS Arbitrage Multi-sector CDOs	Mar. 31, 2013 Global Capital Markets (GCM) derivatives Super Senior CDS Arbitrage Multi-sector CDOs	Dec. 31, 2013 Global Capital Markets (GCM) derivatives Super Senior CDS Arbitrage Multi-sector CDOs	Mar. 31, 2014 Global Capital Markets (GCM) derivatives Super Senior CDS Arbitrage Corporate debt/CLOs	Mar. 31, 2013 Global Capital Markets (GCM) derivatives Super Senior CDS Arbitrage Corporate debt/CLOs	Dec. 31, 2013 Global Capital Markets (GCM) derivatives Super Senior CDS Arbitrage Corporate debt/CLOs	Mar. 31, 2014 Global Capital Markets (GCM) derivatives Written single name CDS	Dec. 31, 2013 Global Capital Markets (GCM) derivatives Written single name CDS
Credit derivatives:
Notional amount of credit risk derivatives					$ 14,987,000,000		$ 15,089,000,000	$ 3,166,000,000		$ 3,257,000,000	$ 11,821,000,000		$ 11,832,000,000	$ 302,000,000	$ 373,000,000
Fair Value of Derivative (Asset) Liability					1,176,000,000		1,277,000,000	1,151,000,000		1,249,000,000	25,000,000		28,000,000
Unrealized market valuation gain (loss) on credit derivatives					75,000,000	171,000,000		72,000,000	155,000,000		3,000,000	16,000,000
Additional amount paid for CDS terminated during period								26,000,000
Collateral posted			3,000,000,000	3,100,000,000				1,000,000,000		1,100,000,000	352,000,000		353,000,000	34,000,000	38,000,000
Notional amount of CDS written on super senior tranches of CLOs											1,000,000,000		1,000,000,000
Derivative weighted average maturity								6 years			2 years			3 years	3 years
Notional amount of CDS purchased offsets														50,000,000	50,000,000
Notional amount of single name CDS maximum exposure														252,000,000	323,000,000
Aggregate fair value of net liability position			2,900,000,000	2,600,000,000										29,000,000	32,000,000
Additional collateral requirements, one-notch downgrade			61,000,000
Further additional collateral requirements, one-notch downgrade			139,000,000
Fair value of hybrid securities	6,300,000,000	6,400,000,000
Par value of hybrid securities	$ 13,100,000,000	$ 13,400,000,000

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) (USD $) In Millions, unless otherwise specified	0 Months Ended		22 Months Ended			3 Months Ended	0 Months Ended		3 Months Ended	0 Months Ended		3 Months Ended
	Nov. 29, 2012 Chartis U.S. item	Apr. 08, 2013 UGC	Sep. 16, 2013 Consolidated 2008 Securities Litigation item	Mar. 20, 2009 Consolidated 2008 Securities Litigation complaint	Nov. 25, 2008 ERISA Litigation II complaint	Mar. 31, 2014 Canadian Securities Class Action claim	Nov. 15, 2013 Starr International Litigation item	Mar. 11, 2013 Starr International Litigation class	Mar. 31, 2014 Starr International Litigation	Feb. 25, 2010 False Claims Act complaint individual	Mar. 31, 2014 False Claims Act complaint multiple	Mar. 31, 2014 Caremark complaint	Sep. 30, 2012 Use of SSDMF	Mar. 31, 2014 Subpoenas from the New York Department of Financial Services (NYDFS) MetLife	Mar. 31, 2014 Subpoenas from the Manhattan District Attorney's Office (NYDA) MetLife
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of purported class action complaints				8	8							2
Number of similar actions			9
Damages claimed						$ 500						$ 3,200
Punitive damages claimed						50
Percentage of ownership in AIG received by Department of the Treasury									80.00%
Number of individuals (Relators) seeking to assert claims										2
Damages sought, multiple of damages sustained											3
Number of shareholders who have submitted timely and valid requests to opt out of the class							286,892
Number of purported classes								2
Payments for regulatory assessment													11
Settlement agreement, number of jurisdictions	50
Civil penalty paid	50.0	4.5
Amount agreed to the consensual termination of the swap agreement														$ 50	$ 10

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Long term purchase commitments) (USD $) In Billions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014 engine
Other Commitments
Other Commitments	$ 2.6
International Lease Finance Corporation (ILFC) \| Flight Equipment
HELD-FOR-SALE CLASSIFICATION
Number of new spare engines deliverable	13
International Lease Finance Corporation (ILFC) \| New Aircraft
HELD-FOR-SALE CLASSIFICATION
Purchase commitment, number of aircraft purchased	322
Aggregate estimated total remaining payments	$ 21
Number of purchased aircraft subject to sale-leaseback agreements	12

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) (USD $) In Millions, unless otherwise specified			3 Months Ended
	Mar. 31, 2014 ALICO	Mar. 31, 2014 Other Operations AIG Financial Products	Mar. 31, 2013 Indemnifications ALICO
Guarantor Obligations [Line Items]
Amount outstanding under standby letters of credit at end of period		$ 240
Various deductible amounts under indemnifications			0
Payments made or placed in escrow accounts at end of period	$ 19

EQUITY (Details - Shares Outstanding) (USD $)	0 Months Ended			3 Months Ended
EQUITY (Details - Shares Outstanding) (USD $)	Mar. 25, 2014	Feb. 13, 2014	Aug. 01, 2013	Mar. 31, 2014
The following table presents a roll forward of outstanding shares:
Treasury Shares, beginning of year				(442,582,366)
Shares, beginning of year				1,906,645,689
Shares, beginning of year				1,464,063,323
Shares issued - Issuance (in shares)				9,951
Shares repurchased				(17,425,487)
Treasury Shares, end of period				(460,007,853)
Shares, end of period				1,906,655,640
Shares, end of period				1,446,647,787
Dividend paid (in dollars per share)	$ 0.125
Common stock authorized to be repurchased		$ 1,400,000,000	$ 1,000,000,000	$ 537,000,000
Aggregate purchase price of repurchased shares				867,000,000
Aggregate purchase amount		$ 1,000,000,000
Common Stock Issued
The following table presents a roll forward of outstanding shares:
Shares, beginning of year				1,906,645,689
Shares issued - Issuance (in shares)				9,951
Shares repurchased				0
Shares, end of period				1,906,655,640
Treasury Stock
The following table presents a roll forward of outstanding shares:
Treasury Shares, beginning of year				(442,582,366)
Shares issued - Issuance (in shares)				0
Shares repurchased				(17,425,487)
Treasury Shares, end of period				(460,007,853)

EQUITY (Details - Rollforward of Accumulated other comprehensive income) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	$ 6,360
Change in unrealized appreciation (depreciation) of investments	2,959	(1,505)
Change in unrealized appreciation (depreciation) of investments	81	425
Changes in foreign currency translation adjustments	(102)	(293)
Change in deferred tax asset (liability)	(215)	595
Deferred tax asset (liability)	8	(143)
Deferred tax asset (liability)	(174)	717
Deferred tax asset (liability)	(56)	20
Deferred tax asset (liability)	7	1
Other comprehensive income (loss)	2,725	(735)
Other comprehensive income (loss)	89	282
Other comprehensive income (loss)	2,785	(788)
Other comprehensive income (loss)	(158)	(273)
Other comprehensive income (loss)	9	44
Balance, end of period, net of tax	9,085
Accumulated Other Comprehensive Income (Loss)
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	6,360	12,574
Change in unrealized appreciation (depreciation) of investments	3,939	(1,193)
Change in deferred acquisition costs adjustment and other	(224)	(311)
Change in future policy benefits	(675)	424
Changes in foreign currency translation adjustments	(102)	(293)
Net actuarial gain (loss)	14	57
Prior service (cost) credit	(12)	(14)
Change in deferred tax asset (liability)	(215)	595
Other comprehensive income (loss)	2,725	(735)
Balance, end of period, net of tax	9,085	11,839
Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than-Temporary Credit Impairments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	936	575
Change in unrealized appreciation (depreciation) of investments	136	414
Change in deferred acquisition costs adjustment and other	32	(2)
Change in future policy benefits	(87)	13
Deferred tax asset (liability)	8	(143)
Other comprehensive income (loss)	89	282
Balance, end of period, net of tax	1,025	857
Unrealized Appreciation (Depreciation) of All Other Investments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	6,789	13,446
Change in unrealized appreciation (depreciation) of investments	3,803	(1,607)
Change in deferred acquisition costs adjustment and other	(256)	(309)
Change in future policy benefits	(588)	411
Deferred tax asset (liability)	(174)	717
Other comprehensive income (loss)	2,785	(788)
Noncontrolling interests		(1)
Balance, end of period, net of tax	9,574	12,659
Foreign Currency Translation Adjustments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	(952)	(403)
Changes in foreign currency translation adjustments	(102)	(293)
Deferred tax asset (liability)	(56)	20
Other comprehensive income (loss)	(158)	(273)
Noncontrolling interests		1
Balance, end of period, net of tax	(1,110)	(677)
Change in Retirement Plan Liabilities Adjustment
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	(413)	(1,044)
Net actuarial gain (loss)	14	57
Prior service (cost) credit	(12)	(14)
Deferred tax asset (liability)	7	1
Other comprehensive income (loss)	9	44
Balance, end of period, net of tax	$ (404)	$ (1,000)

EQUITY (Details - Other comprehensive income reclassification adjustments) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than-Temporary Credit Impairments Were Taken
Unrealized change arising during period	$ 89	$ 474
Less: Reclassification adjustments included in net income	8	49
Total other comprehensive income (loss), before income tax expense (benefit)	81	425
Less: Income tax expense (benefit)	(8)	143
Total other comprehensive income (loss), net of income tax expense (benefit)	89	282
Unrealized Appreciation (Depreciation) of All Other Investments
Unrealized change arising during period	3,188	(1,278)
Less: Reclassification adjustments included in net income	229	227
Total other comprehensive income (loss), before income tax expense (benefit)	2,959	(1,505)
Less: Income tax expense (benefit)	174	(717)
Total other comprehensive income (loss), net of income tax expense (benefit)	2,785	(788)
Foreign Currency Translation Adjustments
Unrealized change arising during period	(102)	(293)
Total other comprehensive income (loss), before income tax expense (benefit)	(102)	(293)
Less: Income tax expense (benefit)	56	(20)
Total other comprehensive income (loss), net of income tax expense (benefit)	(158)	(273)
Change in Retirement Plan Liabilities Adjustment
Unrealized change arising during period	1	18
Less: Reclassification adjustments included in net income	(1)	(25)
Total other comprehensive income (loss), before income tax expense (benefit)	2	43
Less: Income tax expense (benefit)	(7)	(1)
Total other comprehensive income (loss), net of income tax expense (benefit)	9	44
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	3,176	(1,079)
Less: Reclassification adjustments included in net income	236	251
Total other comprehensive income (loss), before income tax expense (benefit)	2,940	(1,330)
Less: Income tax expense (benefit)	215	(595)
Other comprehensive income (loss)	$ 2,725	$ (735)

EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains (losses)	$ (159)	$ 341
Amortization of deferred policy acquisition costs	1,305	1,286
Policyholder benefits and claims incurred	6,797	6,728
Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period	236	251
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains (losses)	8	49
Total reclassifications for the period	8	49
Unrealized appreciation (depreciation) of all other investments \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains (losses)	204	286
Amortization of deferred policy acquisition costs	35	43
Policyholder benefits and claims incurred	(10)	(102)
Total reclassifications for the period	229	227
Change in retirement plan liabilities adjustment \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior-service costs	12	12
Actuarial gains/(losses)	(13)	(37)
Total reclassifications for the period	(1)	(25)
Deferred acquisition costs adjustment	$ 0	$ 0

- Definition

Amount of expense related to deferred policy acquisition costs.

+ References+ Details

NONCONTROLLING INTERESTS (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
A rollforward of noncontrolling interests
Balance, beginning of year	$ 611
Contributions from noncontrolling interests	5	8
Distributions to noncontrolling interests	(22)	(19)
Other comprehensive income (loss), net of tax:
Total other comprehensive income (loss), net of tax	9,085		6,360
Total comprehensive income (loss) attributable to noncontrolling interests	3	25
Balance, end of period	560
Redeemable Noncontrolling interests
A rollforward of noncontrolling interests
Balance, beginning of year	30	334
Contributions from noncontrolling interests	1	22
Distributions to noncontrolling interests	0	(17)
Consolidation (deconsolidation)	(4)	32
Comprehensive income (loss):
Net income (loss)	0	15
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on investments		(1)
Foreign currency translation adjustments		2
Total other comprehensive income (loss), net of tax		1
Total comprehensive income (loss) attributable to noncontrolling interests	0	16
Other		1
Balance, end of period	27	388
Non-redeemable Noncontrolling interests
A rollforward of noncontrolling interests
Balance, beginning of year	611	667
Contributions from noncontrolling interests	5	8
Distributions to noncontrolling interests	(22)	(19)
Consolidation (deconsolidation)	(34)	0
Comprehensive income (loss):
Net income (loss)	3	10
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on investments		0
Foreign currency translation adjustments		(1)
Total other comprehensive income (loss), net of tax		(1)
Total comprehensive income (loss) attributable to noncontrolling interests	3	9
Other	(3)	(2)
Balance, end of period	$ 560	$ 663

EARNINGS PER SHARE (EPS) (Details) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Numerator for EPS:
Income (loss) from continuing operations	$ 1,659	$ 2,158
Less: Net income from continuing operations attributable to noncontrolling interests	3	25
Income (loss) attributable to AIG common shareholders from continuing operations	1,656	2,133
Income (loss) from discontinued operations, net of income tax	(47)	73
Net income (loss) attributable to AIG common shareholders	$ 1,609	$ 2,206
Denominator for EPS:
Weighted average shares outstanding - basic	1,459,249,393	1,476,471,097
Dilutive shares	13,261,420	207,834
Weighted average shares outstanding - diluted	1,472,510,813	1,476,678,931
Basic:
Income (loss) from continuing operations - basic (in dollars per share)	$ 1.13	$ 1.44
Income (loss) from discontinued operations - basic (in dollars per share)	$ (0.03)	$ 0.05
Net Income (loss) attributable to AIG - basic (in dollars per share)	$ 1.1	$ 1.49
Diluted:
Income (loss) from continuing operations - diluted (in dollars per share)	$ 1.12	$ 1.44
Income (loss) from discontinued operations - diluted (in dollars per share)	$ (0.03)	$ 0.05
Net Income (loss) attributable to AIG - diluted (in dollars per share)	$ 1.09	$ 1.49
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive	300,000	77,000,000

EMPLOYEE BENEFITS (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Pensions
Components of net periodic benefit cost:
Service cost	$ 55	$ 57
Interest cost	64	57
Expected return on assets	(77)	(70)
Amortization of prior service (credit) cost	(9)	(9)
Amortization of net (gain) loss	13	36
Curtailment (gain) loss		(1)
Net periodic benefit cost	46	70
Contributed to pension plans	50
Estimates additional contribution to pension plans for the remainder of 2014	127
U.S. Pension Plans
Components of net periodic benefit cost:
Service cost	44	44
Interest cost	57	49
Expected return on assets	(71)	(65)
Amortization of prior service (credit) cost	(8)	(8)
Amortization of net (gain) loss	11	33
Net periodic benefit cost	33	53
Non U.S. Pension Plans
Components of net periodic benefit cost:
Service cost	11	13
Interest cost	7	8
Expected return on assets	(6)	(5)
Amortization of prior service (credit) cost	(1)	(1)
Amortization of net (gain) loss	2	3
Curtailment (gain) loss		(1)
Net periodic benefit cost	13	17
Postretirement Plans
Components of net periodic benefit cost:
Service cost	1	2
Interest cost	3	2
Amortization of prior service (credit) cost	(2)	(3)
Amortization of net (gain) loss		1
Net periodic benefit cost	2	2
U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost	1	1
Interest cost	2	2
Amortization of prior service (credit) cost	(2)	(3)
Amortization of net (gain) loss		1
Net periodic benefit cost	1	1
Non U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost		1
Interest cost	1
Net periodic benefit cost	$ 1	$ 1

INCOME TAXES (Details) (USD $)	3 Months Ended
INCOME TAXES (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Income tax expense (benefit):
Effective tax rates on income from continuing operations (as a percent)	27.00%	24.90%
U.S. federal income tax at statutory rate (as a percent)	35.00%	35.00%
Deferred tax asset valuation allowance recognized	$ 954,000,000
Deferred tax asset valuation allowance allocated to income from continuing operations	62,000,000
Deferred tax asset valuation allowance allocated to other comprehensive income	892,000,000
Accounting for Uncertainty in Income Taxes
Unrecognized tax benefits, excluding interest and penalties	4,400,000,000		4,300,000,000
Unrecognized tax benefits, if recognized would not affect the effective tax rate	100,000,000		100,000,000
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate	4,300,000,000		4,200,000,000
Unrecognized tax benefits, interest and penalties accrued	1,100,000,000		1,100,000,000
Unrecognized tax benefits, interest net of the federal benefit (expense) and penalties	$ 20,000,000	$ 157,000,000
Unrecognized tax benefits, period of reasonably possible change in balance	P12M

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Balance Sheets) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Assets:
Short-term investments	$ 17,658	$ 21,617
Other investments	339,877	334,811
Total investments	357,535	356,428
Cash	2,490	2,241	1,227	1,151
Other assets, including deferred income taxes	156,319	153,124
Assets held for sale	30,767	29,536
Total assets	547,111	541,329
Liabilities:
Insurance liabilities	273,598	271,252
Long-term debt	39,508	41,693
Other liabilities, including intercompany balances	103,770	102,725
Liabilities held for sale	25,815	24,548
Total liabilities	442,691	440,218
Redeemable noncontrolling interests (see Note 12)	27	30
Total AIG shareholders' equity	103,833	100,470
Non-redeemable noncontrolling interests	560	611
Total equity`	104,393	101,081	100,183	98,669
Total liabilities and equity	547,111	541,329
AIG (As Guarantor)
Assets:
Short-term investments	10,249	11,965
Other investments	7,145	7,561
Total investments	17,394	19,526
Cash	60	30	58	81
Loans to subsidiaries	31,013	31,220
Investment in consolidated subsidiaries	69,439	66,201
Other assets, including deferred income taxes	23,726	21,606
Total assets	141,632	138,583
Liabilities:
Long-term debt	28,657	30,839
Other liabilities, including intercompany balances	8,334	6,422
Loans from subsidiaries	808	852
Total liabilities	37,799	38,113
Total AIG shareholders' equity	103,833	100,470
Total equity`	103,833	100,470
Total liabilities and equity	141,632	138,583
Intercompany tax payable	2,700	1,400
Intercompany derivative liabilities	246.0	249.0
AIGLH
Assets:
Cash	9	51	0	73
Investment in consolidated subsidiaries	39,574	39,103
Other assets, including deferred income taxes	206	112
Total assets	39,789	39,266
Liabilities:
Long-term debt	1,352	1,352
Other liabilities, including intercompany balances	96	161
Loans from subsidiaries	100	200
Liabilities held for sale	0
Total liabilities	1,548	1,713
Total AIG shareholders' equity	38,241	37,553
Total equity`	38,241	37,553
Total liabilities and equity	39,789	39,266
Intercompany tax receivable (payable)	(19.0)	98.0
Other Subsidiaries
Assets:
Short-term investments	9,029	11,404
Other investments	332,732	327,250
Total investments	341,761	338,654
Cash	2,421	2,160
Loans to subsidiaries	735	854
Other assets, including deferred income taxes	134,139	132,492
Assets held for sale	30,767	29,536
Total assets	509,823	503,696
Liabilities:
Insurance liabilities	273,598	271,252
Long-term debt	9,499	9,502
Other liabilities, including intercompany balances	98,686	98,908
Loans from subsidiaries	30,933	31,173
Liabilities held for sale	25,815	24,548
Total liabilities	438,531	435,383
Redeemable noncontrolling interests (see Note 12)	27	30
Total AIG shareholders' equity	70,705	67,672
Non-redeemable noncontrolling interests	560	611
Total equity`	71,265	68,283
Total liabilities and equity	509,823	503,696
Reclassifications and Eliminations
Assets:
Short-term investments	(1,620)	(1,752)
Total investments	(1,620)	(1,752)
Loans to subsidiaries	(31,748)	(32,074)
Investment in consolidated subsidiaries	(109,013)	(105,304)
Other assets, including deferred income taxes	(1,752)	(1,086)
Total assets	(144,133)	(140,216)
Liabilities:
Other liabilities, including intercompany balances	(3,346)	(2,766)
Loans from subsidiaries	(31,841)	(32,225)
Total liabilities	(35,187)	(34,991)
Total AIG shareholders' equity	(108,946)	(105,225)
Total equity`	(108,946)	(105,225)
Total liabilities and equity	$ (144,133)	$ (140,216)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Income) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues:
Other income	$ 16,112	$ 16,962
Total revenues	16,112	16,962
Expenses:
Interest expense	479	577
Other expenses	13,122	13,170
Loss (gain) on Extinguishment of Debt	238	340
Total benefits, claims and expenses	13,839	14,087
Income (loss) from continuing operations before income tax expense (benefit)	2,273	2,875
Income tax expense (benefit)	614	717
Income (loss) from continuing operations	1,659	2,158
Income (loss) from discontinued operations, net of income tax	(47)	73
Net income (loss)	1,612	2,231
Less: Net income from continuing operations attributable to noncontrolling interests	3	25
Less: Other net income (loss) from continuing operations attributable to non controlling interest		25
Net income (loss) attributable to AIG	1,609	2,206
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries	1,985	1,891
Other income	224	294
Total revenues	2,209	2,185
Expenses:
Interest expense	422	528
Other expenses	242	258
Loss (gain) on Extinguishment of Debt	288	269
Total benefits, claims and expenses	952	1,055
Income (loss) from continuing operations before income tax expense (benefit)	1,257	1,130
Income tax expense (benefit)	(349)	(1,080)
Income (loss) from continuing operations	1,606	2,210
Income (loss) from discontinued operations, net of income tax	3	(4)
Net income (loss)	1,609	2,206
Less: Net income from continuing operations attributable to noncontrolling interests	0
Net income (loss) attributable to AIG	1,609	2,206
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries	730	670
Other income	0	0
Total revenues	730	670
Expenses:
Interest expense	29	36
Other expenses	1	71
Loss (gain) on Extinguishment of Debt	0	0
Total benefits, claims and expenses	30	107
Income (loss) from continuing operations before income tax expense (benefit)	700	563
Income tax expense (benefit)	(144)	(11)
Income (loss) from continuing operations	844	574
Income (loss) from discontinued operations, net of income tax	0	0
Net income (loss)	844	574
Less: Net income from continuing operations attributable to noncontrolling interests	0
Net income (loss) attributable to AIG	844	574
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries	0	0
Other income	16,000	16,737
Total revenues	16,000	16,737
Expenses:
Interest expense	61	82
Other expenses	12,918	12,841
Loss (gain) on Extinguishment of Debt	0	71
Total benefits, claims and expenses	12,979	12,994
Income (loss) from continuing operations before income tax expense (benefit)	3,021	3,743
Income tax expense (benefit)	1,126	1,808
Income (loss) from continuing operations	1,895	1,935
Income (loss) from discontinued operations, net of income tax	(50)	77
Net income (loss)	1,845	2,012
Less: Net income from continuing operations attributable to noncontrolling interests	3	25
Less: Other net income (loss) from continuing operations attributable to non controlling interest		25
Net income (loss) attributable to AIG	1,842	1,987
Reclassifications and Eliminations
Revenues:
Equity in earnings of consolidated subsidiaries	(2,715)	(2,561)
Other income	(112)	(69)
Total revenues	(2,827)	(2,630)
Expenses:
Interest expense	(33)	(69)
Other expenses	(39)	0
Loss (gain) on Extinguishment of Debt	(50)	0
Total benefits, claims and expenses	(122)	(69)
Income (loss) from continuing operations before income tax expense (benefit)	(2,705)	(2,561)
Income tax expense (benefit)	(19)	0
Income (loss) from continuing operations	(2,686)	(2,561)
Income (loss) from discontinued operations, net of income tax	0	0
Net income (loss)	(2,686)	(2,561)
Less: Net income from continuing operations attributable to noncontrolling interests	0
Net income (loss) attributable to AIG	$ (2,686)	$ (2,561)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Comprehensive Income) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ 1,612	$ 2,231
Other comprehensive income (loss)	2,725	(735)
Comprehensive income (loss)	4,337	1,496
Total comprehensive income (loss) attributable to noncontrolling interests	3	25
Comprehensive income (loss) attributable to AIG	4,334	1,471
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,609	2,206
Other comprehensive income (loss)	2,725	(735)
Comprehensive income (loss)	4,334	1,471
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	4,334	1,471
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	844	574
Other comprehensive income (loss)	1,494	(639)
Comprehensive income (loss)	2,338	(65)
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	2,338	(65)
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,845	2,012
Other comprehensive income (loss)	1,849	(920)
Comprehensive income (loss)	3,694	1,092
Total comprehensive income (loss) attributable to noncontrolling interests	3	25
Comprehensive income (loss) attributable to AIG	3,691	1,067
Reclassifications and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(2,686)	(2,561)
Other comprehensive income (loss)	(3,343)	1,559
Comprehensive income (loss)	(6,029)	(1,002)
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	$ (6,029)	$ (1,002)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 763	$ (149)
Cash flows from investing activities:
Sales of investments	15,243	17,144
Purchase of investments	(14,298)	(18,662)
Loans to subsidiaries - net	0	0
Contributions to subsidiaries - net	0	0
Net change in restricted cash	(667)	296
Net change in short-term investments	3,588	5,479
Other, net	(83)	(293)
Net cash provided by (used in) investing activities	3,783	3,964
Cash flows from financing activities:
Issuance of long-term debt	1,583	1,395
Repayments of long-term debt	(3,281)	(4,337)
Purchase of Common Stock	(867)	0
Intercompany loans - net		0
Cash dividends paid to shareholders	(182)
Other, net	(1,542)	(776)
Net Cash Provided by (Used in) Financing Activities	(4,289)	(3,718)
Effect of exchange rate changes on cash	(11)	(36)
Net increase (decrease) in cash	246	61
Cash at beginning of year	2,241	1,151
Reclassification to assets held for sale	3	15
Cash at end of period	2,490	1,227
Interest:
Third party	(840)	(983)
Taxes:
Income tax authorities	(165)	(103)
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	875	(606)
Cash flows from investing activities:
Sales of investments	430	212
Purchase of investments	(38)	(2,448)
Loans to subsidiaries - net	295	1,710
Contributions to subsidiaries - net	40	(30)
Net change in restricted cash	(6)	0
Net change in short-term investments	2,027	3,255
Other, net	(16)	179
Net cash provided by (used in) investing activities	2,732	2,878
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	(2,196)	(2,149)
Purchase of Common Stock	(867)	0
Intercompany loans - net	(47)	97
Cash dividends paid to shareholders	(182)
Other, net	(285)	(243)
Net Cash Provided by (Used in) Financing Activities	(3,577)	(2,295)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash	30	(23)
Cash at beginning of year	30	81
Reclassification to assets held for sale	0
Cash at end of period	60	58
Interest:
Third party	(363)	(434)
Intercompany	(1)	(4)
Taxes:
Income tax authorities	(3)	0
Intercompany	289	210
Non-cash financing and investing activities:
Capital contributions to subsidiaries through forgiveness of loans	993
Other capital contributions - net	0	118
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	1,711	1,243
Cash flows from investing activities:
Sales of investments	0	0
Purchase of investments	0	0
Loans to subsidiaries - net	0	0
Contributions to subsidiaries - net	0	0
Net change in restricted cash	0	0
Net change in short-term investments	0	0
Other, net	0	0
Net cash provided by (used in) investing activities	0	0
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	(245)
Purchase of Common Stock	0	0
Intercompany loans - net	(100)	(93)
Cash dividends paid to shareholders	(1,653)	(978)
Other, net	0	0
Net Cash Provided by (Used in) Financing Activities	(1,753)	(1,316)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash	(42)	(73)
Cash at beginning of year	51	73
Reclassification to assets held for sale	0
Cash at end of period	9	0
Interest:
Third party	(41)	(44)
Intercompany	(4)	(13)
Taxes:
Income tax authorities	0	0
Intercompany	0	(78)
Other Subsidiaries and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(1,823)	(786)
Cash flows from investing activities:
Sales of investments	14,813	16,932
Purchase of investments	(14,260)	(16,214)
Loans to subsidiaries - net	(295)	(1,710)
Contributions to subsidiaries - net	(40)	30
Net change in restricted cash	(661)	296
Net change in short-term investments	1,561	2,224
Other, net	(67)	(472)
Net cash provided by (used in) investing activities	1,051	1,086
Cash flows from financing activities:
Issuance of long-term debt	1,583	1,395
Repayments of long-term debt	(1,085)	(1,943)
Purchase of Common Stock	0	0
Intercompany loans - net	147	(4)
Cash dividends paid to shareholders	1,653	978
Other, net	(1,257)	(533)
Net Cash Provided by (Used in) Financing Activities	1,041	(107)
Effect of exchange rate changes on cash	(11)	(36)
Net increase (decrease) in cash	258	157
Cash at beginning of year	2,160	997
Reclassification to assets held for sale	3	15
Cash at end of period	2,421	1,169
Interest:
Third party	(436)	(505)
Intercompany	5	17
Taxes:
Income tax authorities	(162)	(103)
Intercompany	$ (289)	$ (132)

SUBSEQUENT EVENTS (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	0 Months Ended	3 Months Ended
	May 05, 2014	Mar. 31, 2014
Subsequent Event [Line Items]
Cash dividend declared per common share (in dollars per share)	$ 0.125	$ 0.125
Subsequent event \| 3.000% Notes due 2015
Subsequent Event [Line Items]
Interest rate (as a percent)	3.00%
Aggregate principal amount of debt redeemed	$ 750

FAIR VALUE MEASUREMENTS (Details - Net realized and unrealized gains and losses related to Level 3) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	$ 740	$ 626
Policyholder contract deposits
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(474)	205
Policyholder contract deposits \| Net realized capital gains (losses)
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(474)	205
Derivative liabilities, net
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, liabilities	87	222
Derivative liabilities, net \| Investment Income
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, liabilities	15
Derivative liabilities, net \| Net realized capital gains (losses)
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(3)	22
Derivative liabilities, net \| Other Income
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, liabilities	75	200
Long-term debt
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(3)	(80)
Long-term debt \| Other Income
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(3)	(80)
Bonds available for sale
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	281	238
Bonds available for sale \| Investment Income
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	304	210
Bonds available for sale \| Net realized capital gains (losses)
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	(36)	7
Bonds available for sale \| Other Income
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	13	21
Other Bond securities
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	380	318
Other Bond securities \| Investment Income
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	51	33
Other Bond securities \| Net realized capital gains (losses)
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	1
Other Bond securities \| Other Income
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	328	285
Equity securities
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	0	9
Equity securities \| Net realized capital gains (losses)
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets		9
Other invested assets
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	79	61
Other invested assets \| Investment Income
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	77	47
Other invested assets \| Net realized capital gains (losses)
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	(4)	(7)
Other invested assets \| Other Income
Net realized and unrealized gains and losses related to Level 3 items
Net realized and unrealized gains and losses related to Level 3 items, assets	$ 6	$ 21