Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2015	Apr. 29, 2015
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, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,333,395,436
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fixed maturity securities:
Bonds available for sale, at fair value (amortized cost: 2015 - $242,114; 2014 - $243,307)	$ 260,822	$ 259,859
Other bond securities, at fair value (See Note 6)	19,013	19,712
Equity securities:
Common and preferred stock available for sale, at fair value (cost: 2015 - $1,683; 2014 - $1,930)	3,766	4,395
Other common and preferred stock, at fair value (See Note 6)	1,100	1,049
Mortgage and other loans receivable, net of allowance (portion measured at fair value: 2015 - $6; 2014 - $6)	25,313	24,990
Other invested assets (portion measured at fair value: 2015 - $9,196; 2014 - $9,394)	34,838	34,518
Short-term investments (portion measured at fair value: 2015 - $1,208; 2014 - $1,684)	11,961	11,243
Total investments	356,813	355,766
Cash	1,823	1,758
Accrued investment income	2,726	2,712
Premiums and other receivables, net of allowance	13,450	12,031
Reinsurance assets, net of allowance	22,208	21,959
Deferred income taxes	18,010	19,339
Deferred policy acquisition costs	9,708	9,827
Derivative assets, at fair value	1,621	1,604
Other assets, including restricted cash of $2,072 in 2015 and $2,025 in 2014	12,203	10,549
Separate account assets, at fair value	82,139	80,036
Total assets	520,701	515,581
Liabilities:
Liability for unpaid losses and loss adjustment expenses	74,490	77,260
Unearned premiums	22,437	21,324
Future policy benefits for life and accident and health insurance contracts	43,244	42,749
Policyholder contract deposits (portion measured at fair value: 2015 - $1,882; 2014 - $1,561)	124,935	124,613
Other policyholder funds (portion measured at fair value: 2015 - $8; 2014 - $8)	4,415	4,669
Derivative liabilities, at fair value	2,651	2,273
Other liabilities (portion measured at fair value: 2015 - $178; 2014 - $350)	26,024	24,168
Long-term debt (portion measured at fair value: 2015 - $4,844; 2014 - $5,466)	31,999	31,217
Separate account liabilities	82,139	80,036
Total liabilities	412,334	408,309
Contingencies, commitments and guarantees (see Note 10)
AIG shareholders' equity:
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2015 - 1,906,671,492 and 2014 - 1,906,671,492	4,766	4,766
Treasury stock, at cost; 2015 - 559,593,905 shares; 2014 - 530,744,521 shares	(20,820)	(19,218)
Additional paid-in capital	81,303	80,958
Retained earnings	32,073	29,775
Accumulated other comprehensive income	10,657	10,617
Total AIG shareholders equity	107,979	106,898
Non-redeemable noncontrolling interests	388	374
Total equity	108,367	107,272
Total liabilities and equity	$ 520,701	$ 515,581

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical - assets and liabilities) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Assets:
Bonds available for sale, amortized cost	$ 242,114	$ 243,307
Common and preferred stocks available for sale, cost	1,683	1,930
Mortgage and other loans receivable, portion measured at fair value	6	6
Other invested assets, portion measured at fair value	9,196	9,394
Short-term investments, portion measured at fair value	1,208	1,684
Other assets, restriced cash	2,072	2,025
Liabilities:
Policyholder contract deposits, portion measured at fair value	1,882	1,561
Other policyholder funds, portion measured at fair value	8	8
Other liabilities, portion measured at fair value	178	350
Long-term debt, portion measured at fair value	$ 4,844	$ 5,466

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical - equity) (USD $)	Mar. 31, 2015	Dec. 31, 2014
AIG shareholders' equity:
Common stock, par value (in dollars per share)	$ 2.5	$ 2.5
Common stock, shares authorized	5,000,000,000	5,000,000,000
Common stock, shares issued	1,906,671,492	1,906,671,492
Treasury stock, shares of common stock	559,593,905	530,744,521

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Premiums	$ 8,822	$ 9,075
Policy fees	677	631
Net investment income	3,838	4,196
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities	(87)	(50)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income (loss)	(10)	(4)
Net other-than-temporary impairments on available for sale securities recognized in net income (loss)	(97)	(54)
Other realized capital gains (losses)	1,438	(98)
Total net realized capital gains (losses)	1,341	(152)
Aircraft leasing revenue	0	1,113
Other income	1,297	1,300
Total revenues	15,975	16,163
Benefits, claims and expenses:
Policyholder benefits and losses incurred	6,551	6,797
Interest credited to policyholder account balances	935	955
Amortization of deferred policy acquisition costs	1,350	1,305
General operating and other expenses	2,949	3,024
Interest expense	340	479
Aircraft leasing expenses	0	1,096
Loss on extinguishment of debt	68	238
Net (gain) loss on sale of properties and divested businesses	6	(4)
Total benefits, losses and expenses	12,199	13,890
Income from continuing operations before income tax expense	3,776	2,273
Income tax expense (benefit)	1,300	614
Income from continuing operations	2,476	1,659
Income (loss) from discontinued operations, net of income tax expense	1	(47)
Net income	2,477	1,612
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	9	3
Net income attributable to AIG	$ 2,468	$ 1,609
Basic:
Income from continuing operations	$ 1.81	$ 1.13
Income (loss) from discontinued operations	$ 0	$ (0.03)
Net income attributable to AIG	$ 1.81	$ 1.1
Diluted:
Income from continuing operations	$ 1.78	$ 1.12
Income (loss) from discontinued operations	$ 0	$ (0.03)
Net income attributable to AIG	$ 1.78	$ 1.09
Weighted average shares outstanding:
Basic (in shares)	1,365,951,690	1,459,249,393
Diluted (in shares)	1,386,263,549	1,472,510,813
Dividend declared per common share (in dollars per share)	$ 0.125	$ 0.125

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income (loss)	$ 2,477	$ 1,612
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	(72)	89
Change in unrealized appreciation (depreciation) of all other investments	539	2,785
Change in foreign currency translation adjustments	(459)	(158)
Change in retirement plan liabilities adjustment	29	9
Other comprehensive income (loss)	37	2,725
Comprehensive income (loss)	2,514	4,337
Comprehensive income (loss) attributable to noncontrolling interests	6	3
Comprehensive income (loss) attributable to AIG	$ 2,508	$ 4,334

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, 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)
Net income (loss) attributable to AIG or other noncontrolling interests	1,612	1,609	0	0	0	1,609	0	3
Dividends	(182)	(182)				(182)
Other comprehensive income (loss)	2,725	2,725	0	0	0	0	2,725	0
Net increase (decrease) due to deconsolidation	(34)							(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
Balance at Dec. 31, 2014	107,272	106,898	4,766	(19,218)	80,958	29,775	10,617	374
Increase (Decrease) in Stockholders' Equity
Purchase of common stock	(1,602)	(1,602)	0	(1,602)	0	0	0	0
Net income (loss) attributable to AIG or other noncontrolling interests	2,477	2,468	0	0	0	2,468	0	9
Dividends	(170)	(170)	0	0	0	(170)	0	0
Other comprehensive income (loss)	37	40	0	0	0	0	40	(3)
Net increase (decrease) due to deconsolidation	7	0	0	0	0	0	0	7
Contributions from noncontrolling interests	1	0	0	0	0	0	0	1
Distributions to noncontrolling interests	(4)	0	0	0	0	0	0	(4)
Other	349	345	0	0	345	0	0	4
Balance at Mar. 31, 2015	$ 108,367	$ 107,979	$ 4,766	$ (20,820)	$ 81,303	$ 32,073	$ 10,657	$ 388

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income (loss)	$ 2,477	$ 1,612
(Income) loss from discontinued operations	(1)	47
Noncash revenues, expenses, gains and losses included in income (loss):
Net gains on sales of securities available for sale and other assets	(974)	(246)
Net (gain) loss on sale of properties and divested businesses	6	(4)
Net losses on extinguishment of debt	68	238
Unrealized (gains) losses in earnings - net	457	585
Equity in income from equity method investments, net of dividends or distributions	(362)	(441)
Depreciation and other amortization	1,226	1,121
Impairments of assets	212	138
Changes in operating assets and liabilities:
Insurance reserves	(295)	1,495
Premiums and other receivables and payables - net	(572)	(701)
Reinsurance assets and funds held under reinsurance treaties	(272)	(1,532)
Capitalization of deferred policy acquisition costs	(1,439)	(1,462)
Current and deferred income taxes - net	1,161	450
Other, net	(1,304)	(537)
Total adjustments	(2,088)	(896)
Net cash provided by operating activities	388	763
Sales or distribution of:
Available for sale investments	6,189	6,365
Other securities	1,094	1,725
Sales or distributions of other invested assets (including flight equipment)	1,648	1,041
Maturities of fixed maturity securities available for sale	5,251	5,347
Principal payments received on and sales of mortgage and other loans receivable	1,047	765
Purchases of:
Available for sale investments	(9,844)	(11,592)
Other securities	(476)	(181)
Purchases of other invested assets (including flight equipment)	(1,132)	(1,218)
Mortgage and other loans receivable	(1,657)	(1,307)
Net change in restricted cash	(47)	(667)
Net change in short-term investments	(804)	3,588
Other, net	(955)	(83)
Net cash provided by investing activities	314	3,783
Proceeds from (payments for)
Policyholder contract deposits	3,713	4,008
Policyholder contract withdrawals	(3,533)	(3,548)
Issuance of long-term debt	2,585	1,583
Repayments of long-term debt	(1,893)	(3,281)
Purchase of Common Stock	(1,398)	(867)
Dividends paid	(170)	(182)
Other, net	92	(2,002)
Net cash used in financing activities	(604)	(4,289)
Effect of exchange rate changes on cash	(33)	(11)
Net increase (decrease) in cash	65	246
Cash at beginning of year	1,758	2,241
Change in cash of businesses held-for-sale	0	3
Cash at end of period	$ 1,823	$ 2,490

Supplementary Disclosure of Condensed Consolidated Cash Flow Information (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash paid during the period for:
Interest	$ 307	$ 840
Taxes	140	165
Non-cash investing/financing activities:
Interest credited to policyholder contract deposits included in financing activities	$ 937	$ 1,052

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2015
BASIS OF PRESENTATION
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION American International Group, Inc. (AIG) is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. 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, 2014 (2014 Annual Report). The condensed consolidated financial information as of December 31, 2014 included herein has been derived from audited Consolidated Financial Statements in the 2014 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, 2015 and prior to the issuance of these Condensed Consolidated Financial Statements. Sale of ILFC On May 14, 2014, we completed the sale of 100 percent of the common stock of International Lease Finance Corporation (ILFC) to AerCap Ireland Limited, a wholly owned subsidiary of AerCap Holdings N.V. (AerCap), in exchange for total consideration of approximately $7.6 billion, including cash and 97.6 million newly issued AerCap common shares (the AerCap Transaction). The total value of the consideration was based in part on AerCap’s closing price per share of $47.01 on May 13, 2014. ILFC’s results of operations are reflected in Aircraft leasing revenue and Aircraft leasing expenses in the Condensed Consolidated Statements of Income through the date of the completion of the sale. 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: 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 losses and loss adjustment expenses; 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.

+ References+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Standards Adopted During 2015 Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure In January 2014, the Financial Accounting Standards Board (FASB) issued an accounting standard that clarifies that a creditor is 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, when either (i) the creditor obtains legal title to the residential real estate property upon completion of a foreclosure or (ii) the borrower conveys all interest in the residential real estate property to the creditor to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. We adopted the standard on its required effective date of January 1, 2015. The adoption of this standard had no 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, must be presented as a discontinued operation if they meet the new definition. The standard also requires entities to provide disclosures about the disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation. We adopted the standard on its required effective date of January 1, 2015 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In June 2014, the FASB issued an accounting standard that changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires additional disclosures about repurchase agreements and other similar transactions. The standard aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as repurchase financings with the accounting for other typical repurchase agreements such that they all will be accounted for as secured borrowings. The standard eliminates sale accounting for repurchase-to-maturity transactions and supersedes the standard under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement. We adopted the standard on its required effective date of January 1, 2015 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 Revenue Recognition In May 2014, the FASB issued an accounting standard that supersedes most existing revenue recognition guidance. The standard excludes from its scope the accounting for insurance contracts, leases, financial instruments, and other agreements that are governed under other GAAP guidance, but could affect the revenue recognition for certain of our other activities. The standard is effective for interim and annual reporting periods beginning after December 15, 2016 and may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. Early adoption is not permitted. We plan to adopt the standard on its required effective date of January 1, 2017 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Accounting for Share-Based Payments with Performance Targets In June 2014, the FASB issued an accounting standard that clarifies the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The standard requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. We plan to adopt the standard on its required effective date of January 1, 2016 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. Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity In August 2014, the FASB issued an accounting standard that allows a reporting entity to measure the financial assets and financial liabilities of a qualifying consolidated collateralized financing entity using the fair value of either its financial assets or financial liabilities, whichever is more observable. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied retrospectively to all relevant prior periods presented starting with January 1, 2010 or through a cumulative effect adjustment to retained earnings at the date of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Consolidation: Amendments to the Consolidation Analysis In February 2015, the FASB issued an accounting standard that affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the year of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows.

- Definition

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

+ References+ Details

SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2015

SEGMENT INFORMATION

SEGMENT INFORMATION

3. SEGMENT INFORMATION

We report our results of operations consistent with the manner in which our chief operating decision makers review the business to assess performance and allocate resources through two reportable segments: Commercial Insurance and Consumer Insurance in addition to a Corporate and Other category. The Corporate and Other category consists of businesses and items not allocated to our reportable segments.

We evaluate performance based on revenue and pre-tax operating income (loss). Pre-tax operating income (loss) is derived by excluding certain items from net income (loss) attributable to AIG. See the table below for items excluded from pre-tax operating income (loss).

The following tables present our operations by reportable segment:

	2015				2014
				Pre-Tax				Pre-Tax
Three Months Ended March 31,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
Commercial Insurance
Property Casualty	$	5,956	$	1,170	$	6,112	$	1,116
Mortgage Guaranty		264		145		248		76
Institutional Markets		624		147		695		229
Total Commercial Insurance		6,844		1,462		7,055		1,421
Consumer Insurance
Retirement		2,388		800		2,485		915
Life		1,613		171		1,610		235
Personal Insurance		2,862		(26)		3,064		18
Total Consumer Insurance		6,863		945		7,159		1,168
Corporate and Other
Direct Investment book		178		145		519		440
Global Capital Markets		137		114		59		29
AIG Parent and Other^*		968		(120)		523		(538)
Consolidation and elimination		(273)		(1)		(133)		1
Total Corporate and Other		1,010		138		968		(68)
AIG Consolidation and elimination		(127)		(18)		(82)		35
Total AIG Consolidated revenues and pre-tax operating income	$	14,590	$	2,527	$	15,100	$	2,556
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair values of fixed maturity securities designated to
hedge living benefit liabilities, net of interest expense		44		44		76		76
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(54)		-		7
Loss on extinguishment of debt		-		(68)		-		(238)
Net realized capital gains		1,341		1,341		(152)		(152)
Income from divested businesses		(15)		(21)		1,113		21
Legal settlements related to legacy crisis matters		15		15		26		26
Legal reserves related to legacy crisis matters		-		(8)		-		(23)
Pre-tax income	$	15,975	$	3,776	$	16,163	$	2,273

* Includes Run-off Insurance Lines and Other Businesses.

- 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.

+ References

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+ Details

HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2015

HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS

HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS

4. DISCONTINUED OPERATIONS

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)		2015		2014
Revenues:
Gain (loss) on sale	$	1	$	(1)
Gain (loss) from discontinued operations, before income tax expense		1		(1)
Income tax expense		-		46
Income (loss) from discontinued operations, net of income tax expense	$	1	$	(47)

- 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).

+ References

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+ Details

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2015

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

5. FAIR VALUE MEASUREMENTS

Fair Value Measurements on a Recurring Basis

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

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

Assets and Liabilities Measured at Fair Value on a Recurring Basis

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

March 31, 2015							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	$	65	$	2,709	$	-	$	-	$	-	$	2,774
Obligations of states, municipalities and political subdivisions		-		25,579		2,256		-		-		27,835
Non-U.S. governments		716		19,139		34		-		-		19,889
Corporate debt		-		142,315		1,827		-		-		144,142
RMBS		-		20,387		17,345		-		-		37,732
CMBS		-		10,749		2,694		-		-		13,443
CDO/ABS		-		8,554		6,453		-		-		15,007
Total bonds available for sale		781		229,432		30,609		-		-		260,822
Other bond securities:
U.S. government and government sponsored entities		-		5,483		-		-		-		5,483
Obligations of states, municipalities and political subdivisions		-		76		-		-		-		76
Non-U.S. governments		-		2		-		-		-		2
Corporate debt		-		551		16		-		-		567
RMBS		-		888		1,288		-		-		2,176
CMBS		-		676		269		-		-		945
CDO/ABS		-		1,914		7,850		-		-		9,764
Total other bond securities		-		9,590		9,423		-		-		19,013
Equity securities available for sale:
Common stock		3,056		3		1		-		-		3,060
Preferred stock		25		-		-		-		-		25
Mutual funds		680		1		-		-		-		681
Total equity securities available for sale		3,761		4		1		-		-		3,766
Other equity securities		1,076		2		22		-		-		1,100
Mortgage and other loans receivable		-		-		6		-		-		6
Other invested assets		2		4,096		5,098		-		-		9,196
Derivative assets:
Interest rate contracts		1		4,806		14		-		-		4,821
Foreign exchange contracts		-		971		-		-		-		971
Equity contracts		109		7		68		-		-		184
Commodity contracts		-		-		-		-		-		-
Credit contracts		-		-		4		-		-		4
Other contracts		-		-		29		-		-		29
Counterparty netting and cash collateral		-		-		-		(2,476)		(1,912)		(4,388)
Total derivative assets		110		5,784		115		(2,476)		(1,912)		1,621
Short-term investments		566		642		-		-		-		1,208
Separate account assets		76,673		5,466		-		-		-		82,139
Total	$	82,969	$	255,016	$	45,274	$	(2,476)	$	(1,912)	$	378,871
Liabilities:
Policyholder contract deposits	$	-	$	47	$	1,835	$	-	$	-	$	1,882
Other policyholder funds		-		8		-		-		-		8

Derivative liabilities:
Interest rate contracts		-		4,073		83		-		-		4,156
Foreign exchange contracts		-		1,445		8		-		-		1,453
Equity contracts		-		87		2		-		-		89
Commodity contracts		-		6		-		-		-		6
Credit contracts		-		-		795		-		-		795
Other contracts		-		-		88		-		-		88
Counterparty netting and cash collateral		-		-		-		(2,476)		(1,460)		(3,936)
Total derivative liabilities		-		5,611		976		(2,476)		(1,460)		2,651
Long-term debt		-		4,658		186		-		-		4,844
Other liabilities		-		178		-		-		-		178
Total	$	-	$	10,502	$	2,997	$	(2,476)	$	(1,460)	$	9,563

December 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	$	322	$	2,670	$	-	$	-	$	-	$	2,992
Obligations of states, municipalities and political subdivisions		-		25,500		2,159		-		-		27,659
Non-U.S. governments		742		20,323		30		-		-		21,095
Corporate debt		-		142,550		1,883		-		-		144,433
RMBS		-		20,715		16,805		-		-		37,520
CMBS		-		10,189		2,696		-		-		12,885
CDO/ABS		-		7,165		6,110		-		-		13,275
Total bonds available for sale		1,064		229,112		29,683		-		-		259,859
Other bond securities:
U.S. government and government sponsored entities		130		5,368		-		-		-		5,498
Obligations of states, municipalities and political subdivisions		-		122		-		-		-		122
Non-U.S. governments		-		2		-		-		-		2
Corporate debt		-		719		-		-		-		719
RMBS		-		989		1,105		-		-		2,094
CMBS		-		708		369		-		-		1,077
CDO/ABS		-		2,751		7,449		-		-		10,200
Total other bond securities		130		10,659		8,923		-		-		19,712
Equity securities available for sale:
Common stock		3,626		2		1		-		-		3,629
Preferred stock		25		-		-		-		-		25
Mutual funds		738		3		-		-		-		741
Total equity securities available for sale		4,389		5		1		-		-		4,395
Other equity securities		1,024		25		-		-		-		1,049
Mortgage and other loans receivable		-		-		6		-		-		6
Other invested assets		2		3,742		5,650		-		-		9,394
Derivative assets:
Interest rate contracts		2		3,729		12		-		-		3,743
Foreign exchange contracts		-		839		1		-		-		840
Equity contracts		98		58		51		-		-		207
Commodity contracts		-		-		-		-		-		-
Credit contracts		-		-		4		-		-		4
Other contracts		-		-		31		-		-		31
Counterparty netting and cash collateral		-		-		-		(2,102)		(1,119)		(3,221)
Total derivative assets		100		4,626		99		(2,102)		(1,119)		1,604

Short-term investments		584		1,100		-		-		-		1,684
Separate account assets		73,939		6,097		-		-		-		80,036
Total	$	81,232	$	255,366	$	44,362	$	(2,102)	$	(1,119)	$	377,739
Liabilities:
Policyholder contract deposits	$	-	$	52	$	1,509	$	-	$	-	$	1,561
Other policyholder funds		-		8		-		-		-		8
Derivative liabilities:
Interest rate contracts		-		3,047		86		-		-		3,133
Foreign exchange contracts		-		1,482		9		-		-		1,491
Equity contracts		-		98		4		-		-		102
Commodity contracts		-		6		-		-		-		6
Credit contracts		-		-		982		-		-		982
Other contracts		-		-		90		-		-		90
Counterparty netting and cash collateral		-		-		-		(2,102)		(1,429)		(3,531)
Total derivative liabilities		-		4,633		1,171		(2,102)		(1,429)		2,273
Long-term debt		-		5,253		213		-		-		5,466
Other liabilities		34		316		-		-		-		350
Total	$	34	$	10,262	$	2,893	$	(2,102)	$	(1,429)	$	9,658

* 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, 2015 and 2014, we transferred $72 million and $62 milion, respectively, of securities issued by Non-U.S. government entities from Level 1 to Level 2, as they are no longer considered actively traded. For similar reasons, during the three-month periods ended March 31, 2015 and 2014, we transferred $115 million and $103 million, respectively, of securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2.

We had no material transfers from Level 2 to Level 1 during the three-month periods ended March 31, 2015 and 2014, respectively.

Changes in Level 3 Recurring Fair Value Measurements

The following tables present changes during the three-month periods ended March 31, 2015 and 2014 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, 2015 and 2014:

				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		in Income		Income (Loss)		Settlements, Net		in		out		of Period		at End of Period
Three Months Ended March 31, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,159	$	1	$	45	$	65	$	-	$	(14)	$	2,256	$	-
Non-U.S. governments		30		-		-		4		-		-		34		-
Corporate debt		1,883		-		17		(61)		44		(56)		1,827		-
RMBS		16,805		258		(72)		354		-		-		17,345		-
CMBS		2,696		24		10		30		-		(66)		2,694		-
CDO/ABS		6,110		33		29		402		-		(121)		6,453		-
Total bonds available for sale		29,683		316		29		794		44		(257)		30,609		-
Other bond securities:
Corporate debt		-		-		-		-		16		-		16		-
RMBS		1,105		(19)		-		204		29		(31)		1,288		(31)
CMBS		369		-		-		(100)		-		-		269		2
CDO/ABS		7,449		132		-		(238)		581		(74)		7,850		(40)
Total other bond securities		8,923		113		-		(134)		626		(105)		9,423		(69)
Equity securities available for sale:
Common stock		1		-		-		-		-		-		1		-
Total equity securities available for sale		1		-		-		-		-		-		1		-
Other equity securities		-		-		-		-		22		-		22		(3)
Mortgage and other loans receivable		6		-		-		-		-		-		6		-
Other invested assets		5,650		446		(511)		(494)		7		-		5,098		-
Total	$	44,263	$	875	$	(482)	$	166	$	699	$	(362)	$	45,159	$	(72)
Liabilities:
Policyholder contract deposits	$	(1,509)	$	(275)	$	-	$	(51)	$	-	$	-	$	(1,835)	$	(50)
Derivative liabilities, net:
Interest rate contracts		(74)		(4)		-		9		-		-		(69)		(4)
Foreign exchange contracts		(8)		1		-		(1)		-		-		(8)		1
Equity contracts		47		8		-		11		-		-		66		5
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		(978)		147		-		40		-		-		(791)		28
Other contracts		(59)		14		2		(16)		-		-		(59)		14
Total derivative liabilities, net^(a)		(1,072)		166		2		43		-		-		(861)		44
Long-term debt^(b)		(213)		15		-		12		-		-		(186)		19
Total	$	(2,794)	$	(94)	$	2	$	4	$	-	$	-	$	(2,882)	$	13
				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		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^(c)	$	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)		-		-
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^(a)		(1,439)		87		(1)		3		47		-		(1,303)		99
Long-term debt^(b)		(370)		(3)		-		19		(70)		21		(403)		7
Total	$	(2,121)	$	(390)	$	(9)	$	51	$	(23)	$	21	$	(2,471)	$	24

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

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

(c) 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, 2015
Bonds available for sale	$	311	$	(9)	$	14	$	316
Other bond securities		18		6		89		113
Other invested assets		68		389		(11)		446
Policyholder contract deposits		-		(275)		-		(275)
Derivative liabilities, net		19		6		141		166
Long-term debt		-		-		15		15
Three Months Ended March 31, 2014
Bonds available for sale	$	304	$	(36)	$	13	$	281
Other bond securities		51		1		328		380
Other invested assets		77		(4)		6		79
Policyholder contract deposits		-		(474)		-		(474)
Derivative liabilities, net		15		(3)		75		87
Long-term debt		-		-		(3)		(3)

The following tables present the gross components of purchases, sales, issues and settlements, net, shown above, for the three-month periods ended March 31, 2015 and 2014 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, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	107	$	(22)	$	(20)	$	65
Non-U.S. governments		6		-		(2)		4
Corporate debt		6		(50)		(17)		(61)
RMBS		961		(22)		(585)		354
CMBS		72		(27)		(15)		30
CDO/ABS		579		(23)		(154)		402
Total bonds available for sale		1,731		(144)		(793)		794
Other bond securities:
RMBS		245		(6)		(35)		204
CMBS		-		(36)		(64)		(100)
CDO/ABS		214		(40)		(412)		(238)
Total other bond securities		459		(82)		(511)		(134)
Equity securities available for sale		-		-		-		-
Other invested assets		240		(586)		(148)		(494)
Total assets	$	2,430	$	(812)	$	(1,452)	$	166
Liabilities:
Policyholder contract deposits	$	-	$	(73)	$	22	$	(51)
Derivative liabilities, net		15		-		28		43
Long-term debt^(b)		-		-		12		12
Total liabilities	$	15	$	(73)	$	62	$	4
Three Months Ended March 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions^(c)	$	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:
Corporate debt		-		-		-		-
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^(b)		-		-		19		19
Total liabilities	$	1	$	(12)	$	62	$	51

(a) There were no issuances during the three-month periods ended March 31, 2015 and 2014, respectively.

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

Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3 in the tables above. As a result, the unrealized gains (losses) on instruments held at March 31, 2015 and 2014 may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable inputs (e.g., changes in unobservable long-dated volatilities).

Transfers of Level 3 Assets and Liabilities

We record transfers of assets and liabilities into or out of Level 3 classification at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. As a result, the Net realized and unrealized gains (losses) included in income or other comprehensive income as shown in the table above excludes $18 million and $23 million of net gains related to assets and liabilities transferred into Level 3 during the three-month periods ended March 31, 2015 and 2014, respectively, and includes $3 million and $23 million of net gains related to assets and liabilities transferred out of Level 3 during the three-month periods ended March 31, 2015 and 2014, respectively.

Transfers of Level 3 Assets

During the three-month periods ended March 31, 2015 and 2014, transfers into Level 3 assets primarily included certain investments in CDO/ABS and private placement corporate debt. The transfers of investments in CDO/ABS into Level 3 assets were due to decreases in market transparency and liquidity for individual security types. Transfers of investments in private placement corporate debt 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.

During the three-month periods ended March 31, 2015 and 2014, transfers out of Level 3 assets primarily related to certain investments in corporate debt, RMBS, CDO/ABS, and investments in hedge funds. Transfers of certain investments in corporate debt, RMBS, 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. 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, 2015 and 2014, respectively.

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)	2015		Technique	Unobservable Input	(Weighted Average)
Assets:

Obligations of states,	$	1,263	Discounted cash flow	Yield^(b)	3.78% - 4.46% (4.12%)
municipalities and
political subdivisions

Corporate debt		1,085	Discounted cash flow	Yield^(b)	3.77% - 8.21% (5.99%)


RMBS		18,003	Discounted cash flow	Constant prepayment rate^(a)(c)	0.76% - 9.06% (4.91%)
				Loss severity^(a)(c)	46.57% - 80.00% (63.29%)
				Constant default rate^(a)(c)	3.56% - 9.28% (6.42%)
				Yield^(c)	2.79% - 6.29% (4.54%)

Certain CDO/ABS		5,259	Discounted cash flow	Constant prepayment rate^(a)(c)	6.30% - 12.00% (8.70%)
				Loss severity^(a)(c)	43.90% - 58.50% (51.40%)
				Constant default rate^(a)(c)	2.50% - 14.30% (7.70%)
				Yield^(c)	4.60% - 8.70% (6.90%)

CMBS		2,583	Discounted cash flow	Yield^(b)	0.00% - 17.56% (5.88%)

CDO/ABS - DIB			Binomial Expansion	Recovery rate^(b)	5.00% - 33.00% (21.00%)
		310	Technique (BET)	Diversity score^(b)	3 - 26 (12)
				Weighted average life^(b)	0.27 - 10.40 years (4.97 years)
Liabilities:

Policyholder contract
deposits

GMWB		1,121	Discounted cash flow	Equity implied volatility^(b)	6.00% - 39.00%^(d)
				Base lapse rate^(b)	1.00% - 40.00%^(d)
				Dynamic lapse rate^(b)	0.20% - 60.00%^(d)
				Mortality rate^(b)	0.10% - 35.00%^(d)
				Utilization rate^(b)	0.50% - 30.00%^(d)

Index Annuities		361	Discounted cash flow	Lapse rates	0.75% - 66.00%^(d)
				Mortality rates	0.02% - 44.06%^(d)


Index Life	291	Discounted cash flow	Equity implied volatility	10.00% to 25.00%^(d)
			Base lapse rate	2.00% to 19.00%^(d)
			Mortality rates	0.00% to 20.00%^(d)

Total derivative
liabilities, net	554	BET	Recovery rate^(b)	8.00% - 23.00% (11.00%)
			Diversity score^(b)	9 - 22 (14)
			Weighted average life^(b)	3.09 - 10.40 years (7.12 years)


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

Obligations of states,	$	1,178	Discounted cash flow	Yield^(b)	3.9% - 4.62% (4.26%)
municipalities and
political subdivisions

Corporate debt		1,145	Discounted cash flow	Yield^(b)	3.46% - 8.75% (6.10%)


RMBS		17,353	Discounted cash flow	Constant prepayment rate^(a)(c)	0.59% - 9.35% (4.97%)
				Loss severity^(a)(c)	46.04% - 79.56% (62.80%)
				Constant default rate^(a)(c)	3.67% - 9.96% (6.82%)
				Yield^(c)	2.67% - 6.64% (4.65%)

Certain CDO/ABS		5,282	Discounted cash flow	Constant prepayment rate^(a)(c)	6.40% - 12.80% (9.20%)
				Loss severity^(a)(c)	42.90% - 60.30% (51.90%)
				Constant default rate^(a)(c)	2.50% - 14.70% (7.80%)
				Yield^(c)	4.70% - 9.70% (7.10%)

CMBS		2,687	Discounted cash flow	Yield^(b)	0.00% - 17.29% (6.06%)

CDO/ABS - DIB			Binomial Expansion	Recovery rate^(b)	7.00% - 36.00% (21.00%)
		279	Technique (BET)	Diversity score^(b)	5 - 27 (12)
				Weighted average life^(b)	0.25 - 10.49 years (3.93 years)
Liabilities:

Policyholder contract
deposits

GMWB		890	Discounted cash flow	Equity implied volatility^(b)	6.00% - 39.00%^(d)
				Base lapse rate^(b)	1.00% - 40.00%^(d)
				Dynamic lapse rate^(b)	0.20% - 60.00%^(d)
				Mortality rate^(b)	0.10% - 35.00%^(d)
				Utilization rate^(b)	0.50% - 30.00%^(d)

Index Annuities		294	Discounted cash flow	Lapse rates	0.75% - 66%^(d)
				Mortality rates	0.02% - 44.06%^(d)

Index Life	259	Discounted cash flow	Equity implied volatility	10.00% to 25.00%^(d)
			Base lapse rate	2.00% to 19.00%^(d)
			Mortality rate	0.00% to 20.00%^(d)

Total derivative
liabilities, net	791	BET	Recovery rate^(b)	5.00% - 23.00% (13.00%)
			Diversity score^(b)	8 - 25 (13)
			Weighted average life^(b)	2.67 - 10.49 years (4.65 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.

(d) Represents actual maximum and minimum, not weighted average rates.

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 – DIB

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.

Derivative liabilities – credit contracts

The significant unobservable inputs used for Derivative liabilities – 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 and hedge funds 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, 2015				December 31, 2014
			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	$	2,123	$	461	$	2,275	$	450

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		370		205		384		227

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		30		121		26

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		161		43		164		43

Other	Includes multi-strategy, mezzanine and other strategies		248		209		216		234
Total private equity funds			3,035		948		3,160		980
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		1,182		-		1,109		-

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		2,750		1		2,428		1

Macro	Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions		531		-		498		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		736		23		731		5

Emerging markets	Investments in the financial markets of developing countries		339		-		308		-

Other	Includes multi-strategy, relative value and other strategies		173		-		125		-
Total hedge funds			5,711		24		5,199		6
Total		$	8,746	$	972	$	8,359	$	986

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, 2015, assuming average original expected lives of 10 years for the funds, 85 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, 5 percent between four and six years and 10 percent between seven and 10 years.

The hedge fund investments included above are generally redeemable monthly (14 percent), quarterly (48 percent), semi-annually (15 percent) and annually (23 percent), with redemption notices ranging from one day to 180 days. At March 31, 2015, however, investments representing approximately 44 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 2016. 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)		2015		2014
Assets:
Mortgage and other loans receivable	$	-	$	-
Bond and equity securities		141		666
Alternative investments^(a)		145		154
Other, including Short-term investments		2		3
Liabilities:
Long-term debt^(b)		(76)		(74)
Other liabilities		(3)		(4)
Total gain	$	209	$	745

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

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

We recognized gains of $6 million and losses of $11 million during the three-month periods ended March 31, 2015 and 2014, 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 mortgage and other loans receivable and long-term debt for which the fair value option was elected:

	March 31, 2015						December 31, 2014
			Outstanding						Outstanding
(in millions)	Fair Value		Principal Amount		Difference		Fair Value		Principal Amount		Difference
Assets:
Mortgage and other loans receivable	$	6	$	4	$	2	$	6	$	4	$	2
Liabilities:
Long-term debt^*	$	4,844	$	3,541	$	1,303	$	5,466	$	4,101	$	1,365

* 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		2015		2014
March 31, 2015
Other investments	$	-	$	-	$	1,058	$	1,058	$	25	$	49
Investments in life settlements		-		-		308		308		70		42
Other assets		-		-		9		9		4		1
Total	$	-	$	-	$	1,375	$	1,375	$	99	$	92
December 31, 2014
Other investments	$	-	$	-	$	790	$	790
Investments in life settlements		-		-		537		537
Other assets		-		-		1		1
Total	$	-	$	-	$	1,328	$	1,328

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, 2015
Assets:
Mortgage and other loans receivable	$	-	$	424	$	26,730	$	27,154	$	25,307
Other invested assets		-		549		2,912		3,461		4,324
Short-term investments		-		10,753		-		10,753		10,753
Cash		1,823		-		-		1,823		1,823
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		253		120,740		120,993		106,646
Other liabilities		-		1,300		-		1,300		1,300
Long-term debt		-		25,928		3,807		29,735		27,155
December 31, 2014
Assets:
Mortgage and other loans receivable	$	-	$	449	$	26,157	$	26,606	$	24,984
Other invested assets		-		593		2,882		3,475		4,352
Short-term investments		-		9,559		-		9,559		9,559
Cash		1,758		-		-		1,758		1,758
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		244		119,268		119,512		106,395
Other liabilities		-		1,120		-		1,120		1,120
Long-term debt		-		24,749		2,932		27,681		25,751

- 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, 2015

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, 2015
Bonds available for sale:
U.S. government and government sponsored entities	$	2,557	$	222	$	(5)	$	2,774	$	-
Obligations of states, municipalities and political subdivisions		26,088		1,783		(36)		27,835		-
Non-U.S. governments		18,857		1,149		(117)		19,889		-
Corporate debt		133,066		11,923		(847)		144,142		57
Mortgage-backed, asset-backed and collateralized:
RMBS		34,551		3,466		(285)		37,732		1,698
CMBS		12,503		971		(31)		13,443		224
CDO/ABS		14,492		665		(150)		15,007		38
Total mortgage-backed, asset-backed and collateralized		61,546		5,102		(466)		66,182		1,960
Total bonds available for sale^(b)		242,114		20,179		(1,471)		260,822		2,017
Equity securities available for sale:
Common stock		1,000		2,071		(11)		3,060		-
Preferred stock		21		4		-		25		-
Mutual funds		662		63		(44)		681		-
Total equity securities available for sale		1,683		2,138		(55)		3,766		-
Total	$	243,797	$	22,317	$	(1,526)	$	264,588	$	2,017
December 31, 2014
Bonds available for sale:
U.S. government and government sponsored entities	$	2,806	$	204	$	(18)	$	2,992	$	-
Obligations of states, municipalities and political subdivisions		25,979		1,729		(49)		27,659		(13)
Non-U.S. governments		20,280		966		(151)		21,095		-
Corporate debt		134,961		10,594		(1,122)		144,433		64
Mortgage-backed, asset-backed and collateralized:
RMBS		34,377		3,435		(292)		37,520		1,767
CMBS		12,129		815		(59)		12,885		215
CDO/ABS		12,775		628		(128)		13,275		47
Total mortgage-backed, asset-backed and collateralized		59,281		4,878		(479)		63,680		2,029
Total bonds available for sale^(b)		243,307		18,371		(1,819)		259,859		2,080
Equity securities available for sale:
Common stock		1,185		2,461		(17)		3,629		-
Preferred stock		21		4		-		25		-
Mutual funds		724		54		(37)		741		-
Total equity securities available for sale		1,930		2,519		(54)		4,395		-
Total	$	245,237	$	20,890	$	(1,873)	$	264,254	$	2,080

(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, 2015 and December 31, 2014, bonds available for sale held by us that were below investment grade or not rated totaled $36.1 billion and $35.1 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, 2015
Bonds available for sale:
U.S. government and government sponsored entities	$	120	$	1	$	141	$	4	$	261	$	5
Obligations of states, municipalities and political
subdivisions		1,130		14		460		22		1,590		36
Non-U.S. governments		1,605		47		884		70		2,489		117
Corporate debt		12,048		449		4,563		398		16,611		847
RMBS		5,540		125		2,953		160		8,493		285
CMBS		453		3		603		28		1,056		31
CDO/ABS		3,193		56		1,812		94		5,005		150
Total bonds available for sale		24,089		695		11,416		776		35,505		1,471
Equity securities available for sale:
Common stock		58		11		-		-		58		11
Mutual funds		275		44		-		-		275		44
Total equity securities available for sale		333		55		-		-		333		55
Total	$	24,422	$	750	$	11,416	$	776	$	35,838	$	1,526
December 31, 2014
Bonds available for sale:
U.S. government and government sponsored entities	$	526	$	5	$	281	$	13	$	807	$	18
Obligations of states, municipalities and political
subdivisions		495		9		794		40		1,289		49
Non-U.S. governments		1,606		42		1,690		109		3,296		151
Corporate debt		12,132		450		11,570		672		23,702		1,122
RMBS		4,621		109		3,996		183		8,617		292
CMBS		220		1		2,087		58		2,307		59
CDO/ABS		3,857		50		1,860		78		5,717		128
Total bonds available for sale		23,457		666		22,278		1,153		45,735		1,819
Equity securities available for sale:
Common stock		88		16		2		1		90		17
Mutual funds		280		37		64		-		344		37
Total equity securities available for sale		368		53		66		1		434		54
Total	$	23,825	$	719	$	22,344	$	1,154	$	46,169	$	1,873

At March 31, 2015, we held 4,983 and 112 individual fixed maturity and equity securities, respectively, that were in an unrealized loss position, of which 1,351 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, 2015 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, 2015	Available for Sale				Position Available for Sale
(in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	10,434	$	10,590	$	655	$	632
Due after one year through five years		48,034		50,920		4,452		4,314
Due after five years through ten years		59,209		62,855		8,569		8,170
Due after ten years		62,891		70,275		8,280		7,835
Mortgage-backed, asset-backed and collateralized		61,546		66,182		15,020		14,554
Total	$	242,114	$	260,822	$	36,976	$	35,505
December 31, 2014
Due in one year or less	$	9,821	$	9,975	$	637	$	620
Due after one year through five years		48,352		50,873		6,669		6,529
Due after five years through ten years		62,685		65,889		12,873		12,338
Due after ten years		63,168		69,442		10,255		9,607
Mortgage-backed, asset-backed and collateralized		59,281		63,680		17,120		16,641
Total	$	243,307	$	259,859	$	47,554	$	45,735

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:

		2015				2014
		Gross		Gross		Gross		Gross
Three Months Ended March 31,	Realized		Realized		Realized		Realized
(in millions)		Gains		Losses		Gains		Losses
Fixed maturity securities	$	149	$	118	$	216	$	31
Equity securities		496		5		30		2
Total	$	645	$	123	$	246	$	33

For the three-month periods ended March 31, 2015 and 2014, respectively, the aggregate fair value of available for sale securities sold was $6.9 billion and $6.1 billion, respectively, which resulted in net realized capital gains of $0.5 billion and $0.2 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, 2015				December 31, 2014
		Fair	Percent			Fair	Percent
(in millions)		Value	of Total			Value	of Total
Fixed maturity securities:
U.S. government and government sponsored entities	$	5,483	27	%	$	5,498	27	%
Obligations of states, municipalities and political subdivisions		76	-			122	1
Non-U.S. governments		2	-			2	-
Corporate debt		567	3			719	3
Mortgage-backed, asset-backed and collateralized:
RMBS		2,176	11			2,094	10
CMBS		945	5			1,077	5
CDO/ABS and other collateralized^*		9,764	49			10,200	49
Total mortgage-backed, asset-backed and collateralized		12,885	65			13,371	64
Total fixed maturity securities		19,013	95			19,712	95
Equity securities		1,100	5			1,049	5
Total	$	20,113	100	%	$	20,761	100	%

* Includes $825 million and $859 million of U.S. Government agency backed ABS at March 31, 2015 and December 31, 2014, respectively.

Net Investment Income

The following table presents the components of Net investment income:

Three Months Ended March 31,
(in millions)		2015		2014
Fixed maturity securities, including short-term investments	$	2,883	$	3,131
Equity securities		15		(85)
Interest on mortgage and other loans		339		318
Alternative investments^*		689		925
Real estate		26		28
Other investments		38		11
Total investment income		3,990		4,328
Investment expenses		152		132
Net investment income	$	3,838	$	4,196

* 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)		2015		2014
Sales of fixed maturity securities	$	31	$	185
Sales of equity securities		491		28
Other-than-temporary impairments:
Severity		(2)		-
Change in intent		(24)		(5)
Foreign currency declines		(29)		(4)
Issuer-specific credit events		(68)		(49)
Adverse projected cash flows		(5)		(1)
Provision for loan losses		24		5
Foreign exchange transactions		254		26
Derivative instruments		208		(289)
Impairments on investments in life settlements		(70)		(42)
Other^*		531		(6)
Net realized capital gains (losses)	$	1,341	$	(152)

* Includes realized gains due to the sale of Class B shares of Prudential Financial, Inc.

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)		2015		2014
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	2,156	$	3,994
Equity securities		(382)		(128)
Other investments		(503)		73
Total increase (decrease) in unrealized appreciation (depreciation) of investments^*	$	1,271	$	3,939

* 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 2014 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)		2015		2014
Balance, beginning of year	$	2,659	$	3,872
Increases due to:
Credit impairments on new securities subject to impairment losses		15		8
Additional credit impairments on previously impaired securities		22		36
Reductions due to:
Credit impaired securities fully disposed for which there was no
prior intent or requirement to sell		(42)		(330)
Accretion on securities previously impaired due to credit^*		(188)		(188)
Other		-		(9)
Balance, end of period	$	2,466	$	3,389

* 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)	$	31,562
Cash flows expected to be collected^*		25,480
Recorded investment in acquired securities		16,986

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

(in millions)	March 31, 2015		December 31, 2014
Outstanding principal balance	$	17,362	$	16,962
Amortized cost		12,601		12,216
Fair value		13,788		13,462

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

Three Months Ended March 31,
(in millions)		2015		2014
Balance, beginning of period	$	6,865	$	6,940
Newly purchased PCI securities		245		522
Disposals		-		-
Accretion		(220)		(212)
Effect of changes in interest rate indices		(138)		(59)
Net reclassification to/(from) non-accretable difference,
including effects of prepayments		13		(21)
Balance, end of period	$	6,765	$	7,170

Pledged Investments

Secured Financing and Similar Arrangements

We enter into secured financing transactions whereby certain securities are sold under agreements to repurchase (repurchase agreements), in which we transfer securities in exchange for cash, with an agreement by us to repurchase the same or substantially similar securities. 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 the Direct Investment book (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, 2015		December 31, 2014
Other bond securities		1,180		2,122

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, 2015		December 31, 2014
Securities collateral pledged to us	$	4,340	$	2,506
Amount sold or repledged by us		132		131

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 $6.5 billion and $5.9 billion at March 31, 2015 and December 31, 2014, respectively.

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 $41 million and $44 million of stock in FHLBs at March 31, 2015 and December 31, 2014, respectively. In addition, our subsidiaries have pledged securities available for sale with a fair value of $1.2 billion and $0.5 billion at March 31, 2015 and December 31, 2014, 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 was approximately $3.1 billion and $3.5 billion at March 31, 2015 and December 31, 2014, 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, 2015

LENDING ACTIVITIES

LENDING ACTIVITIES

7. LENDING ACTIVITIES

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

	March 31,			December 31,
(in millions)		2015		2014
Commercial mortgages^*	$	19,172	$	18,909
Life insurance policy loans		2,665		2,710
Commercial loans, other loans and notes receivable		3,726		3,642
Total mortgage and other loans receivable		25,563		25,261
Allowance for losses		(250)		(271)
Mortgage and other loans receivable, net	$	25,313	$	24,990

* Commercial mortgages primarily represent loans for office, retail, apartment and industrial properties, with exposures in California and New York representing the largest geographic concentrations (aggregating approximately 14 percent and 18 percent, respectively, at both March 31, 2015 and December 31, 2014).

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, 2015
Credit Quality Indicator:
In good standing	983	$	3,383	$	6,449	$	4,073	$	2,020	$	1,713	$	1,080	$	18,718	98	%
Restructured^(a)	8		-		408		6		-		16		-		430	2
90 days or less delinquent	1		-		-		-		-		-		-		-	-
>90 days delinquent or in
process of foreclosure	5		-		14		10		-		-		-		24	-
Total^(b)	997	$	3,383	$	6,871	$	4,089	$	2,020	$	1,729	$	1,080	$	19,172	100	%
Valuation allowance		$	1	$	74	$	29	$	23	$	6	$	10	$	143	1	%

December 31, 2014
Credit Quality Indicator:
In good standing	1,007	$	3,384	$	6,100	$	3,807	$	1,689	$	1,660	$	1,812	$	18,452	98	%
Restructured^(a)	7		-		343		7		-		17		-		367	2
90 days or less delinquent	6		-		-		10		-		-		5		15	-
>90 days delinquent or in
process of foreclosure	4		-		75		-		-		-		-		75	-
Total^(b)	1,024	$	3,384	$	6,518	$	3,824	$	1,689	$	1,677	$	1,817	$	18,909	100	%
Allowance for losses		$	3	$	86	$	28	$	22	$	6	$	14	$	159	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 2014 Annual Report.

(b) Does not reflect valuation allowances.

(c) Over 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 2014 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:

	2015						2014
Three Months Ended March 31,		Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	159	$	112	$	271	$	201	$	111	$	312
Loans charged off		-		(1)		(1)		-		-		-
Recoveries of loans previously charged off		4		-		4		-		-		-
Net charge-offs		4		(1)		3		-		-		-
Provision for loan losses		(20)		(4)		(24)		(1)		(12)		(13)
Other		-		-		-		-		-		-
Allowance, end of period	$	143 ^*	$	107	$	250	$	200 ^*	$	99	$	299

* Of the total allowance at the end of the periods, $45 million and $98 million relate to individually assessed credit losses on $131 million and $281 million of commercial mortgage loans at March 31, 2015 and 2014, respectively.

During the three-month periods ended March 31, 2015 and 2014, loans with a carrying value of $65 million and $136 million, respectively, were modified in troubled debt restructurings.

- 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, 2015

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES

8. VARIABLE INTEREST ENTITIES

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

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 entity’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. While also considering these factors, the consolidation conclusion depends on the breadth of our decision-making ability and our ability to influence activities that significantly affect the economic performance of the VIE.

Balance Sheet Classification and Exposure to Loss

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

(in millions)		Real Estate and Investment Entities^(d)		Securitization Vehicles		Structured Investment Vehicle		Affordable Housing Partnerships		Other		Total
March 31, 2015
Assets:
Bonds available for sale	$	-	$	11,389	$	-	$	-	$	34	$	11,423
Other bond securities		-		6,850		528		-		38		7,416
Mortgage and other loans receivable		-		2,359		-		-		155		2,514
Other invested assets		611		632		-		1,846		27		3,116
Other ^(a)		41		1,298		142		57		70		1,608
Total assets^(b)	$	652	$	22,528	$	670	$	1,903	$	324	$	26,077
Liabilities:
Long-term debt	$	68	$	1,318	$	52	$	265	$	6	$	1,709
Other ^(c)		37		247		1		140		33		458
Total liabilities	$	105	$	1,565	$	53	$	405	$	39	$	2,167

December 31, 2014
Assets:
Bonds available for sale	$	-	$	11,459	$	-	$	-	$	35	$	11,494
Other bond securities		-		7,251		615		-		40		7,906
Mortgage and other loans receivable		-		2,398		-		-		162		2,560
Other invested assets		577		651		-		1,684		29		2,941
Other ^(a)		40		1,447		140		49		76		1,752
Total assets^(b)	$	617	$	23,206	$	755	$	1,733	$	342	$	26,653
Liabilities:
Long-term debt	$	69	$	1,370	$	52	$	199	$	7	$	1,697
Other^(c)		32		276		-		101		37		446
Total liabilities	$	101	$	1,646	$	52	$	300	$	44	$	2,143

(a) Comprised primarily of Short-term investments, Premiums and other receivables and Other assets at both March 31, 2015 and December 31, 2014.

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

(c) Comprised primarily of Other liabilities and Derivative liabilities, at fair value, at both March 31, 2015 and December 31, 2014.

(d) At March 31, 2015 and December 31, 2014, off-balance sheet exposure, primarily consisting of commitments to real estate and investment entities, was $81.9 million and $56.4 million, respectively.

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, 2015
Real estate and investment entities	$	19,342	$	2,817	$	433	$	3,250
Affordable housing partnerships		7,760		405		-		405
Other		383		14		-		14
Total	$	27,485	$	3,236	$	433	$	3,669
December 31, 2014
Real estate and investment entities	$	19,949	$	2,785	$	454	$	3,239
Affordable housing partnerships		7,911		425		-		425
Other		617		32		-		32
Total	$	28,477	$	3,242	$	454	$	3,696

* At both March 31, 2015 and December 31, 2014, $3.2 billion of our total unconsolidated VIE assets were recorded as Other invested assets.

See Note 10 to the Consolidated Financial Statements in the 2014 Annual Report for additional information on VIEs.

DERIVATIVES AND HEDGE ACCOUNTING

3 Months Ended

Mar. 31, 2015

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 2014 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, 2015								December 31, 2014
	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	$	155	$	2	$	25	$	2	$	155	$	-	$	25	$	2
Foreign exchange contracts		1,201		107		1,086		99		611		25		1,794		239
Equity contracts		34		2		92		14		7		1		104		13
Derivatives not designated
as hedging instruments:
Interest rate contracts		77,540		4,819		58,358		4,201		65,070		3,743		45,251		3,183
Foreign exchange contracts		11,847		864		10,426		1,354		13,667		815		8,516		1,251
Equity contracts^(b)		7,470		182		42,928		1,926		7,565		206		42,387		1,615
Commodity contracts		13		-		12		6		15		-		11		6
Credit contracts		5		4		1,438		795		5		4		5,288		982
Other contracts^(c)		36,221		29		490		88		36,155		31		538		90
Total derivatives not
designated as hedging
instruments		133,096		5,898		113,652		8,370		122,477		4,799		101,991		7,127
Total derivatives, gross	$	134,486	$	6,009	$	114,855	$	8,485	$	123,250	$	4,825	$	103,914	$	7,381

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

(b) Notional amount of derivative assets and fair value of derivative assets were zero at both March 31, 2015 and December 31, 2014, related to bifurcated embedded derivatives. Notional amount of derivative liabilities and fair value of derivative liabilities include $39.7 billion and $1.9 billion, respectively, at March 31, 2015, and $39.3 billion and $1.5 billion, respectively, at December 31, 2014, related to bifurcated embedded derivatives. A bifurcated embedded derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets.

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

	March 31, 2015								December 31, 2014
	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
GCM derivatives:
AIG Financial Products	$	21,971	$	2,599	$	22,693	$	3,380	$	23,153	$	2,445	$	27,719	$	3,019
AIG Markets, Inc. (AIG Markets)		67,667		2,984		43,611		2,513		55,005		1,935		29,251		2,136
Total GCM derivatives^(a)		89,638		5,583		66,304		5,893		78,158		4,380		56,970		5,155
Non-GCM derivatives^(b)		44,848		426		48,551		2,592		45,092		445		46,944		2,226
Total derivatives, gross	$	134,486		6,009	$	114,855		8,485	$	123,250		4,825	$	103,914		7,381
Counterparty netting^(c)				(2,476)				(2,476)				(2,102)				(2,102)
Cash collateral^(d)				(1,912)				(1,460)				(1,119)				(1,429)
Total derivatives, net				1,621				4,549				1,604				3,850
Less: Bifurcated embedded derivatives				-				1,898				-				1,577
Total derivatives on condensed
consolidated balance sheets			$	1,621			$	2,651			$	1,604			$	2,273

(a) As of March 31, 2015 and December 31, 2014, includes super senior multi-sector CDOs with a net notional amount of $1.2 billion and $2.6 billion (fair value liability of $554 million and $947 million), respectively. The expected weighted average maturity as of March 31, 2015 is six years. Because of long-term maturities of the credit default swaps (CDSs) in the portfolio, we are unable to make reasonable estimates of the periods during which any payments would be made. However, the net notional amount represents the maximum exposure to loss on the portfolio. As of March 31, 2015, there were no super senior corporate debt/CLOs remaining. As of December 31, 2014, includes super senior corporate debt/CLOs with a net notional amount of $2.5 billion (fair value liability of $7 million).

(b) Represents derivatives used to hedge the interest rate, foreign currency and equity risk associated with derivatives embedded in insurance contracts and stable value wraps. Assets and liabilities include bifurcated embedded derivatives which are recorded in Policyholder contract deposits.

(d) Represents cash collateral posted and received that is eligible for netting.

Collateral

We engage in derivative transactions that are not subject to a clearing requirement directly with unaffiliated third parties, in most cases, under International Swaps and Derivatives Association, Inc. (ISDA) Master Agreements. Many of the ISDA Master Agreements also include Credit Support Annex (CSA) provisions, which provide for collateral postings that may vary at various ratings and threshold levels. We attempt to reduce our risk with certain counterparties by entering into agreements that 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 $3.3 billion at both March 31, 2015 and December 31, 2014. 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 $2.1 billion and $1.3 billion at March 31, 2015 and December 31, 2014, 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 governing multiple derivative transactions between two counterparties. The ISDA Master Agreement generally provides for the net settlement of all, or a specified group, of these derivative transactions, as well as transferred collateral, through a single payment, and in a single currency, as applicable. The net settlement provisions apply in the event of a default on, or affecting any, one derivative transaction or a termination event affecting all, or a specified group of, derivative transactions governed by the ISDA Master Agreement.

Hedge Accounting

We designated certain derivatives entered into by 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 and cross currency swaps designated as hedges of the change in fair value of foreign currency denominated available for sale securities attributable to changes in foreign exchange rates. We also designated certain interest rate swaps entered into by GCM with third parties as fair value hedges of fixed-rate GICs attributable to changes in benchmark interest rates.

We use foreign currency denominated debt and cross-currency swaps as hedging instruments in net investment hedge relationships to mitigate the foreign exchange risk associated with our non-U.S. dollar functional currency foreign subsidiaries. For net investment hedge relationships where issued debt is used as a hedging instrument, we assess the hedge effectiveness and measure the amount of ineffectiveness based on changes in spot rates. For net investment hedge relationships that use derivatives as hedging instruments, we assess hedge effectiveness and measure hedge ineffectiveness using changes in forward rates. For the three month periods ended March 31, 2015 and 2014, we recognized gains of $94 million and $3 million, respectively, included in Change in foreign currency translation adjustment in Other comprehensive income related to the net investment hedge relationships.

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

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

	Gains/(Losses) Recognized in Earnings for:				Including Gains/(Losses) Attributable to:
	Hedging		Hedged		Hedge		Excluded
(in millions)	Derivatives^(a)		Items		Ineffectiveness		Components		Other^(b)
Three Months Ended March 31, 2015
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(1)	$	-	$	-	$	-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		3		-		-		3
Gain/(Loss) on extinguishment of debt		-		13		-		-		13
Foreign exchange contracts:
Realized capital gains/(losses)		132		(128)		-		1		3
Interest credited to policyholder
account balances		-		(1)		-		-		(1)
Other income		-		6		-		-		6
Gain/(Loss) on extinguishment of debt		-		16		-		-		16
Equity contracts:
Realized capital gains/(losses)		(6)		5		-		(1)		-
Three Months Ended March 31, 2014
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(2)	$	-	$	-	$	(1)
Interest credited to policyholder
account balances		-		(1)		-		-		(1)
Other income		-		18		-		-		18
Gain/(Loss) on extinguishment of debt		-		50		-		-		50
Foreign exchange contracts:
Realized capital gains/(losses)		24		(32)		-		(8)		-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		-		-		-		-
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Equity contracts
Realized capital gains/(losses)		1		(1)		-		-		-

(a) The amounts presented do not include the periodic net coupon settlements of the derivative contract or the coupon income (expense) related to the hedged item.

(b) Represents accretion/amortization of opening fair value of the hedged item at inception of hedge relationship, amortization of basis adjustment on hedged item following the discontinuation of hedge accounting, and the release of debt basis adjustment following the repurchase of issued debt that was part of previously-discontinued fair value hedge relationship.

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)		2015		2014
By Derivative Type:
Interest rate contracts^(a)	$	361	$	139
Foreign exchange contracts		322		(14)
Equity contracts^(b)		(268)		(428)
Commodity contracts		(1)		1
Credit contracts		147		80
Other contracts		23		15
Total	$	584	$	(207)
By Classification:
Policy fees	$	19	$	15
Net investment income		27		(1)
Net realized capital gains (losses)		171		(275)
Other income		362		49
Policyholder benefits and claims incurred		5		5
Total	$	584	$	(207)

(a) Includes cross currency swaps.

(b) Includes embedded derivative losses of $178 million and $396 million for the three month periods ended March 31, 2015 and 2014, respectively.

Derivatives and Other Instruments

Our businesses 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 may include, among other things, CDSs 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, 2015 and December 31, 2014, was approximately $2.9 billion and $2.5 billion, respectively. The aggregate fair value of assets posted as collateral under these contracts at March 31, 2015 and December 31, 2014, was $2.4 billion and $2.7 billion, respectively.

We estimate that at March 31, 2015, 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 approximately $19 million in additional 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 $42 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 $84 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, 2015. 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 Condensed Consolidated Balance Sheets. The fair values of these hybrid securities were $5.9 billion and $6.1 billion at March 31, 2015 and December 31, 2014, respectively. These securities have par amounts of $12.3 billion at both March 31, 2015 and December 31, 2014, 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.

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+ Details

CONTINGENCIES, COMMITMENTS AND GUARANTEES

3 Months Ended

Mar. 31, 2015

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 losses and loss adjustment expenses. 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, AIG Financial Products Corp. and related subsidiaries (collectively 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 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 July 15, 2014, lead plaintiff and all defendants except AIG’s outside auditors accepted a mediator’s proposal to settle the Consolidated 2008 Securities Litigation for a cash payment by AIG of $960 million (the AIG Settlement). On August 1, 2014, lead plaintiff and AIG’s outside auditors accepted a mediator’s proposal to resolve the Consolidated 2008 Securities Litigation for a cash payment by the outside auditors (the Auditor Settlement and, collectively with the AIG Settlement, the Settlement). On October 7, 2014, the Court granted lead plaintiff’s Motion for Preliminary Approval of Settlement and Approval of Notice to the Class and scheduled a final settlement approval hearing for March 20, 2015. The deadline for parties to exclude themselves from the Settlement passed on January 5, 2015. On October 22, 2014, AIG made a cash payment of $960 million, which is being held in escrow pending final, non-appealable, approval of the AIG Settlement and until all funds are distributed pursuant to the AIG Settlement. The Court entered a final order approving the AIG Settlement on March 20, 2015; however, on April 14, 2015, an individual class member/objector filed a notice of appeal of the final order approving the AIG Settlement.

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 auditor and the underwriters of various securities offerings). Two such actions have been voluntarily dismissed; the remainder are now pending in the Southern District of New York. On January 20, 2015, AIG and other defendants filed motions to dismiss some or all of the claims asserted in all such actions pending as of that date. On February 2, 2015, and February 9, 2015, two additional securities actions were filed in the Southern District of New York asserting claims substantially similar to those in the Consolidated 2008 Securities Litigation against AIG (one of the two actions also names as defendants certain directors and officers of AIG and AIGFP, AIG’s outside auditor and certain of AIG’s underwriters during the relevant period). On March 25, 2015 and April 3, 2015, AIG filed motions to dismiss the claims in whole, or in part, asserted in the two additional securities actions.

On March 27, 2015, an additional securities action was filed in state court in Orange County, California asserting a claim against AIG pursuant to Section 11 of the Securities Act that is substantially similar to those in the Consolidated 2008 Securities Litigation and the nine individual securities litigations pending in the Southern District of New York. On April 29, 2015, AIG filed a complaint for declaratory relief in the Southern District of New York seeking a declaration that the Section 11 claims filed in Orange Country, California are time-barred. On April 30, 2015, AIG removed the action from state court in Orange County, California to federal court in the Central District of California.

We have accrued our current estimate of probable loss with respect to these litigations and other potential related 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 December 19, 2014, lead plaintiffs’ counsel filed under seal a third 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 third 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 January 6, 2015, the parties informed the Court that they had accepted a mediator’s proposal to settle the action for $40 million. On April 23, 2015, lead plaintiffs’ counsel filed an unopposed motion for preliminary approval of the settlement, certification of a settlement class, approval of notices of settlement, approval of the plan of allocation, and setting of a fairness hearing. The entirety of the $40 million settlement is expected to be paid by AIG’s fiduciary liability insurance carriers.

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. Plaintiff has not yet moved to lift the stay.

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 4, 2015, 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.

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.

In the SICO Treasury Action, the only claims naming AIG as a party (as a nominal defendant) are derivative claims on behalf of AIG. On September 21, 2012, SICO made a pre-litigation demand on our Board demanding that we pursue the derivative claims or allow SICO to pursue the claims on our behalf. On January 9, 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. 286,908 holders of AIG Common Stock during the two class periods have opted into the classes.

Trial in the SICO Treasury Action began in the Court of Federal Claims on September 29, 2014, and witness testimony concluded on November 24, 2014. SICO argued during trial that the two classes are entitled to a total of approximately $40 billion in damages, plus interest. The parties have completed post-trial briefing and closing arguments took place on April 22, 2015.

While AIG is no longer a party to the SICO Treasury Action, 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.

AIG believes that any such indemnification obligation would arise only if: (a) SICO prevails on its claims at trial and receives an award of damages and prevails through any appellate process; (b) the United States commences an action against AIG seeking indemnification; and (c) the United States is successful in such an action through any appellate process. If SICO prevails on its claims and the United States seeks indemnification from AIG, AIG intends to assert defenses thereto. A final determination that the United States is liable for damages, together with a final 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 and Maiden Lane III LLC 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, and on September 12, 2014, the Alabama Supreme Court affirmed that order. AIG and the other defendants’ petition for rehearing of that decision was denied on February 27, 2015. The matter will return to the trial court for general discovery (which has not yet commenced) and adjudication of the merits. AIG is unable to reasonably estimate the possible loss or range of losses, if any, arising from the litigation.

Regulatory and Related Matters

In April 2007, the National Association of Insurance Commissioners (NAIC) formed a Settlement Review Working Group, directed by the State of Indiana, to review the Workers’ Compensation Residual Market Assessment portion of the settlement between AIG, the Office of the New York Attorney General, and the New York State Department of Insurance. In late 2007, the Settlement Review Working Group, under the direction of Indiana, Minnesota and Rhode Island, recommended that a multi-state targeted market conduct examination focusing on workers’ compensation insurance be commenced under the direction of the NAIC’s Market Analysis Working Group. AIG was informed of the multi-state targeted market conduct examination in January 2008. The lead states in the multi-state examination were Delaware, Florida, Indiana, Massachusetts, Minnesota, New York, Pennsylvania and Rhode Island. All other states (and the District of Columbia) agreed to participate in the multi-state examination. The examination focused on legacy issues related to certain AIG entities’ writing and reporting of workers compensation insurance between 1985 and 1996.

On December 17, 2010, AIG and the lead states reached an agreement to settle all regulatory liabilities arising out of the subjects of the multistate examination. This regulatory settlement agreement, which was agreed to by all 50 states and the District of Columbia, included, among other terms, (i) AIG’s payment of $100 million in regulatory fines and penalties; (ii) AIG’s payment of $47 million in outstanding premium taxes and assessments; (iii) AIG’s agreement to enter into a compliance plan describing agreed-upon specific steps and standards for evaluating AIG’s ongoing compliance with state regulations governing the setting of workers’ compensation insurance premium rates and the reporting of workers’ compensation premiums; and (iv) AIG’s agreement to pay up to $150 million in contingent fines in the event that AIG fails to comply substantially with the compliance plan requirements. In furtherance of the compliance plan, the agreement provided for a monitoring period from May 29, 2012 to May 29, 2014 leading up to a compliance plan examination. After the close of the monitoring period, as part of preparation for the actual conduct of the compliance plan examination, on or about October 1, 2014, AIG and the lead states agreed upon corrective action plans to address particular issues identified during the monitoring period. The compliance plan examination is ongoing. There can be no assurance that the result of the compliance plan examination will not result in a fine, have a material adverse effect on AIG’s ongoing operations or lead to civil litigation.

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 United Guaranty Corporation (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.’s appeal was dismissed by the Eleventh Circuit on March 5, 2015.

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 and other state 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 has been 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.

As disclosed in prior quarters, a state regulatory agency has requested additional information relating to the unwinding of a position on which we realized gains of $196 million for the year ended December 31, 2014.

Other Contingencies

Liability for unpaid losses and loss adjustment expenses

Although we regularly review the adequacy of the established Liability for unpaid losses and loss adjustment expenses, 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. Reserves with respect to a number of years may 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 (for example, inflation, intensity and utilization of medical services), underlying policy pricing, terms and conditions, and claims handling practices.

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 $2.4 billion at March 31, 2015.

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 of structured leasing transactions in an amount equal to the termination value owing to the equity investor by the lessee in the event of a lessee default (the equity termination value). The total amount outstanding at March 31, 2015 was $214 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, 2015.

Other

See Note 8 to the Condensed Consolidated Financial Statements for additional discussion on commitments and guarantees associated with VIEs.
See Note 9 to the Condensed Consolidated Financial Statements for additional disclosures about derivatives.
See Note 16 to the Condensed Consolidated Financial Statements for additional disclosures about guarantees of outstanding debt.

EQUITY

3 Months Ended

Mar. 31, 2015

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, 2015
Shares, beginning of year	1,906,671,492	(530,744,521)	1,375,926,971
Shares issued	-	5,995	5,995
Shares repurchased	-	(28,855,379)	(28,855,379)
Shares, end of period	1,906,671,492	(559,593,905)	1,347,077,587

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 nonbank 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 for this purpose. 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 26, 2015, AIG paid a dividend of $0.125 per share on AIG Common Stock to shareholders of record on March 12, 2015.

See Note 20 to the Consolidated Financial Statements in the 2014 Annual Report for a discussion of restrictions on payments of dividends to AIG Parent by its subsidiaries.

Repurchase of AIG Common Stock

On February 12, 2015, our Board of Directors authorized an additional increase to its previous repurchase authorization of AIG Common Stock, resulting in an aggregate remaining authorization on such date of approximately $2.5 billion. Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise. Certain of our share repurchases have been and may from time to time be effected through Exchange Act Rule 10b5-1 repurchase plans.

We repurchased approximately 29 million shares of AIG Common Stock during the three-month period ended March 31, 2015, for an aggregate purchase price of approximately $1.4 billion. As of March 31, 2015, approximately $1.1 billion remained under our repurchase authorization.

The total number of shares of AIG Common Stock repurchased in the first quarter of 2015 includes (but the aggregate purchase prices does not include) approximately 3.5 million shares of AIG Common Stock received in January 2015 upon the settlement of an accelerated share repurchase agreement executed in the fourth quarter of 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 on Which Other-Than- Temporary Credit Impairments Were Recognized
				Unrealized Appreciation (Depreciation) of All Other Investments		Foreign Currency Translation Adjustments		Change in Retirement Plan Liabilities Adjustment


(in millions)										Total
Balance, December 31, 2014, net of tax	$	1,043	$	12,327	$	(1,784)	$	(969)	$	10,617
Change in unrealized appreciation (depreciation) of investments		(59)		1,330		-		-		1,271
Change in deferred acquisition costs adjustment and other		(19)		80		-		-		61
Change in future policy benefits		(23)		(380)		-		-		(403)
Change in foreign currency translation adjustments		-		-		(632)		-		(632)
Net actuarial gain		-		-		-		43		43
Prior service cost		-		-		-		(12)		(12)
Change in deferred tax asset (liability)		29		(491)		173		(2)		(291)
Total other comprehensive income (loss)		(72)		539		(459)		29		37
Noncontrolling interests		-		-		(3)		-		(3)
Balance, March 31, 2015, net of tax	$	971	$	12,866	$	(2,240)	$	(940)	$	10,657

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

The following table presents the other comprehensive income reclassification adjustments for the three-month periods ended March 31, 2015 and 2014:

		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, 2015
Unrealized change arising during period	$	(92)	$	1,507	$	(632)	$	7	$	790
Less: Reclassification adjustments
included in net income		9		477		-		(24)		462
Total other comprehensive income (loss),
before income tax expense (benefit)		(101)		1,030		(632)		31		328
Less: Income tax expense (benefit)		(29)		491		(173)		2		291
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(72)	$	539	$	(459)	$	29	$	37

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

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)			2015		2014	Condensed Consolidated Statements of Income
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized

Investments		$	9	$	8	Other realized capital gains
Total			9		8
Unrealized appreciation (depreciation) of
all other investments
Investments			512		204	Other realized capital gains
Deferred policy acquisition costs adjustment			(35)		35	Amortization of deferred policy acquisition costs
Future policy benefits			-		(10)	Policyholder benefits and losses incurred
Total			477		229
Change in retirement plan liabilities adjustment
Prior-service costs			12		12	*
Actuarial gains/(losses)			(36)		(13)	*
Total			(24)		(1)
Total reclassifications for the period		$	462	$	236

* 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.

+ References

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+ Details

NONCONTROLLING INTERESTS

3 Months Ended

Mar. 31, 2015

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, 2015
Balance, beginning of year	$	-	$	374
Contributions from noncontrolling interests		-		1
Distributions to noncontrolling interests		-		(4)
Consolidation (deconsolidation)		-		7
Comprehensive income (loss):
Net income (loss)		-		9
Foreign currency translation adjustments		-		(3)
Total other comprehensive income (loss), net of tax		-		(3)
Total comprehensive income (loss)		-		6
Other		-		4
Balance, end of period	$	-	$	388

Three Months Ended March 31, 2014
Balance, beginning of year	$	30	$	611
Contributions from noncontrolling interests		1		5
Distributions to noncontrolling interests		-		(22)
Consolidation (deconsolidation)		(4)		(34)
Comprehensive income:
Net income		-		3
Total comprehensive income		-		3
Other		-		(3)
Balance, end of period	$	27	$	560

- 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, 2015

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)		2015		2014
Numerator for EPS:
Income from continuing operations	$	2,476	$	1,659
Less: Net income from continuing operations attributable to noncontrolling interests		9		3
Income attributable to AIG common shareholders from continuing operations		2,467		1,656
Income (loss) from discontinued operations		1		(47)
Income (loss) attributable to AIG common shareholders from discontinued operations		1		(47)
Net income attributable to AIG common shareholders	$	2,468	$	1,609
Denominator for EPS:
Weighted average shares outstanding — basic		1,365,951,690		1,459,249,393
Dilutive shares		20,311,859		13,261,420
Weighted average shares outstanding — diluted^*		1,386,263,549		1,472,510,813
Income per common share attributable to AIG:
Basic:
Income from continuing operations	$	1.81	$	1.13
Loss from discontinued operations	$	-	$	(0.03)
Net income attributable to AIG	$	1.81	$	1.10
Diluted:
Income from continuing operations	$	1.78	$	1.12
Loss from discontinued operations	$	-	$	(0.03)
Net income attributable to AIG	$	1.78	$	1.09

* Dilutive shares are calculated using the treasury stock method and include dilutive shares from share-based employee compensation plans. The number of shares excluded from diluted shares outstanding was 0.6 and 0.3 million for the three-month periods ended March 31, 2015 and 2014, 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, 2015

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, 2015
Components of net periodic benefit cost:
Service cost	$	52	$	11	$	63	$	2	$	1	$	3
Interest cost		55		6		61		2		1		3
Expected return on assets		(72)		(6)		(78)		-		-		-
Amortization of prior service (credit) cost		(8)		(1)		(9)		(3)		-		(3)
Amortization of net (gain) loss		32		3		35		-		-		-
Net periodic benefit cost	$	59	$	13	$	72	$	1	$	2	$	3
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		-		-		-
Curtailment (gain) loss		-		-		-		-		-		-
Net periodic benefit cost	$	33	$	13	$	46	$	1	$	1	$	2

For the three-month period ended March 31, 2015, we contributed $56 million to our U.S. and non-U.S. pension plans and we estimate that we will contribute an additional $117 million for the remainder of 2015. These estimates are subject to change because contribution decisions are affected by various factors, including our liquidity, market performance and management discretion.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References+ Details

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2015
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, 2015, the effective tax rate on income from continuing operations was 34.4 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, partially offset by an increase in certain deferred tax asset valuation allowances associated with foreign jurisdictions primarily attributable to changes in statutory tax rates and the net operating loss utilization statutory limitation in Japan. 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 the U.S. Life Insurance Companies’ capital loss carryforward valuation allowance from realized gains on sales of available for sale securities. Assessment of Deferred Tax Asset Valuation Allowance The evaluation of the recoverability of our deferred tax asset and the need for a valuation allowance requires us to weigh all positive and negative evidence to reach a conclusion that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The weight given to the evidence is commensurate with the extent to which it can be objectively verified. The more negative evidence that exists, the more positive evidence is necessary and the more difficult it is to support a conclusion that a valuation allowance is not needed. Our framework for assessing the recoverability of the deferred tax asset requires us to consider all available evidence, including: the nature, frequency, and amount of cumulative financial reporting income and losses in recent years; the sustainability of recent operating profitability of our subsidiaries; the predictability of future operating profitability of the character necessary to realize the net deferred tax asset; the carryforward period for the net operating loss, capital loss and foreign tax credit carryforwards, including the effect of reversing taxable temporary differences; and prudent and feasible actions and tax planning strategies that would be implemented, if necessary, to protect against the loss of the deferred tax asset. In performing our assessment of the recoverability of the deferred tax asset under this framework, we consider tax laws governing utilization of the net operating loss, capital loss and foreign tax credit carryforwards in each applicable jurisdiction. Under U.S. tax law, a company generally must use its net operating loss carryforwards before it can use its foreign tax credit carryforwards, even though the carryforward period for the foreign tax credit is shorter than for the net operating loss. Our U.S. federal consolidated income tax group includes both life and non-life companies. While U.S. tax liability of our non-life companies can be offset by the net operating loss carryforwards, only a portion of U.S. tax liability of our life companies can be offset by the net operating loss carryforwards. The remaining tax liability of our life companies can be offset by the foreign tax credit carryforwards. Accordingly, we utilize both the net operating loss and foreign tax credit carryforwards concurrently. During the three-month period ended March 31, 2015, we recognized an increase of $85 million in our deferred tax asset valuation allowance associated with certain foreign jurisdictions, primarily attributable to changes in Japanese tax law enacted on March 31, 2015. 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. Oral arguments have been scheduled for May 18, 2015. 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 affecting other taxpayers. Accounting for Uncertainty in Income Taxes At both March 31, 2015 and December 31, 2014, our unrecognized tax benefits, excluding interest and penalties, were $4.4 billion. At March 31, 2015 and December 31, 2014, our unrecognized tax benefits related to tax positions that, if recognized, would not affect the effective tax rate because they relate to such factors as the timing, rather the permissibility, of the deduction were $0.2 billion and $0.3 billion, respectively. Accordingly, at March 31, 2015 and December 31, 2014, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $4.2 billion and $4.1 billion, respectively. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At both March 31, 2015 and December 31, 2014, 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, 2015 and 2014, we accrued expense (benefit) of $(12) million and $20 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, 2015, 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, 2015

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 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, 2015
Assets:
Short-term investments	$	7,639	$	-	$	5,239	$	(917)	$	11,961
Other investments^(a)		12,000		-		332,852		-		344,852
Total investments		19,639		-		338,091		(917)		356,813
Cash		65		8		1,750		-		1,823
Loans to subsidiaries^(b)		30,016		-		559		(30,575)		-
Investment in consolidated subsidiaries^(b)		64,739		36,372		-		(101,111)		-
Other assets, including deferred income taxes		23,297		102		145,331		(6,665)		162,065
Total assets	$	137,756	$	36,482	$	485,731	$	(139,268)	$	520,701

Liabilities:
Insurance liabilities	$	-	$	-	$	269,521	$	-	$	269,521
Long-term debt		22,137		820		9,042		-		31,999
Other liabilities, including intercompany balances^(a)(c)		7,087		59		107,361		(3,693)		110,814
Loans from subsidiaries^(b)		553		-		30,017		(30,570)		-
Total liabilities		29,777		879		415,941		(34,263)		412,334
Total AIG shareholders’ equity		107,979		35,603		69,402		(105,005)		107,979
Non-redeemable noncontrolling interests		-		-		388		-		388
Total equity		107,979		35,603		69,790		(105,005)		108,367
Total liabilities and equity	$	137,756	$	36,482	$	485,731	$	(139,268)	$	520,701


December 31, 2014
Assets:
Short-term investments	$	6,078	$	-	$	6,231	$	(1,066)	$	11,243
Other investments^(a)		11,415		-		333,108		-		344,523
Total investments		17,493		-		339,339		(1,066)		355,766
Cash		26		91		1,641		-		1,758
Loans to subsidiaries^(b)		31,070		-		779		(31,849)		-
Investment in consolidated subsidiaries^(b)		62,811		35,850		-		(98,661)		-
Other assets, including deferred income taxes		23,835		2,305		141,826		(9,909)		158,057
Total assets	$	135,235	$	38,246	$	483,585	$	(141,485)	$	515,581
Liabilities:
Insurance liabilities	$	-	$	-	$	270,615	$	-	$	270,615
Long-term debt		21,190		820		9,207		-		31,217
Other liabilities, including intercompany balances^(a)(c)		6,196		2,314		108,189		(10,222)		106,477
Loans from subsidiaries^(b)		951		-		30,898		(31,849)		-
Total liabilities		28,337		3,134		418,909		(42,071)		408,309
Total AIG shareholders’ equity		106,898		35,112		64,302		(99,414)		106,898
Non-redeemable noncontrolling interests		-		-		374		-		374
Total equity		106,898		35,112		64,676		(99,414)		107,272
Total liabilities and equity	$	135,235	$	38,246	$	483,585	$	(141,485)	$	515,581

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

(b) Eliminated in consolidation.

(c) For March 31, 2015 and December 31, 2014, includes intercompany tax payable of $921 million and $343 million, respectively, and intercompany derivative liabilities of $88 million and $275 million, respectively, for AIG Parent (as Guarantor) and intercompany tax receivable of $34 million and $3 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, 2015
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	2,757	$	773	$	-	$	(3,530)	$	-
Other income		150		-		15,914		(89)		15,975
Total revenues		2,907		773		15,914		(3,619)		15,975
Expenses:
Interest expense		289		16		65		(30)		340
Loss on extinguishment of debt		61		-		-		7		68
Other expenses		246		(5)		11,609		(59)		11,791
Total expenses		596		11		11,674		(82)		12,199
Income (loss) from continuing operations before income tax
expense (benefit)		2,311		762		4,240		(3,537)		3,776
Income tax expense (benefit)		(157)		(43)		1,501		(1)		1,300
Income (loss) from continuing operations		2,468		805		2,739		(3,536)		2,476
Income from discontinued operations, net of income taxes		-		-		1		-		1
Net income (loss)		2,468		805		2,740		(3,536)		2,477
Less:
Total net income attributable to
noncontrolling interests		-		-		9		-		9
Net income (loss) attributable to AIG	$	2,468	$	805	$	2,731	$	(3,536)	$	2,468
Three Months Ended March 31, 2014
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,985	$	730	$	-	$	(2,715)	$	-
Other income		224		-		16,051		(112)		16,163
Total revenues		2,209		730		16,051		(2,827)		16,163
Expenses:
Interest expense		422		29		61		(33)		479
Loss on extinguishment of debt		288		-		-		(50)		238
Other expenses		242		1		12,969		(39)		13,173
Total expenses		952		30		13,030		(122)		13,890
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

* 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, 2015
Net income (loss)	$	2,468	$	805	$	2,740	$	(3,536)	$	2,477
Other comprehensive income (loss)		38		908		(1,061)		152		37
Comprehensive income (loss)		2,506		1,713		1,679		(3,384)		2,514
Total comprehensive income attributable to noncontrolling interests		-		-		6		-		6
Comprehensive income (loss) attributable to AIG	$	2,506	$	1,713	$	1,673	$	(3,384)	$	2,508
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

Condensed Consolidating Statements of Cash Flows

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries^*		Eliminations^*		AIG
Three Months Ended March 31, 2015
Net cash provided by operating activities		1,111		284		2,257		(3,264)		388
Cash flows from investing activities:
Sales of investments		505		-		15,995		(1,271)		15,229
Purchase of investments		(897)		-		(13,483)		1,271		(13,109)
Loans to subsidiaries - net		1,091		-		395		(1,486)		-
Contributions to subsidiaries - net		(70)		-		-		70		-
Net change in restricted cash		-		-		(47)		-		(47)
Net change in short-term investments		(1,035)		-		231		-		(804)
Other, net		-		-		(955)		-		(955)
Net cash (used in) provided by investing activities		(406)		-		2,136		(1,416)		314
Cash flows from financing activities:
Issuance of long-term debt		2,342		-		243		-		2,585
Repayments of long-term debt		(977)		-		(916)		-		(1,893)
Purchase of Common Stock		(1,398)		-		-		-		(1,398)
Intercompany loans - net		(394)		-		(1,092)		1,486		-
Cash dividends paid		(170)		(367)		(2,897)		3,264		(170)
Other, net		(69)		-		411		(70)		272
Net cash (used in) financing activities		(666)		(367)		(4,251)		4,680		(604)
Effect of exchange rate changes on cash		-		-		(33)		-		(33)
Change in cash		39		(83)		109		-		65
Cash at beginning of year		26		91		1,641		-		1,758
Reclassification to assets held for sale		-		-		-		-		-
Cash at end of period	$	65	$	8	$	1,750	$	-	$	1,823

Three Months Ended March 31, 2014
Net cash provided by operating activities		875		1,711		1,586		(3,409)		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		-		53		(348)		-
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		-		1,439		(388)		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)
Intercompany loans - net		(47)		(100)		(201)		348		-
Purchase of common stock		(867)		-		-		-		(867)
Cash dividends paid to shareholders		(182)		(1,653)		(1,756)		3,409		(182)
Other, net		(285)		-		(1,297)		40		(1,542)
Net cash (used in) financing activities		(3,577)		(1,753)		(2,756)		3,797		(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
Change in cash of businesses held for sale		-		-		3		-		3
Cash at end of period	$	60	$	9	$	2,421	$	-	$	2,490

Supplementary Disclosure of Condensed Consolidating Cash Flow Information

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries^*		Eliminations^*		AIG
Cash (paid) received during the 2015 period for:
Interest:
Third party	$	240	$	(27)	$	(520)	$	-	$	(307)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(1)	$	-	$	(139)	$	-	$	(140)
Intercompany		291		-		(291)		-		-
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)		-		-

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

Three Months Ended March 31,
(in millions)		2015		2014
Intercompany non-cash financing and investing activities:
Capital contributions	$	111	$	993
Dividends received in the form of securities		140		-

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2015
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	17. SUBSEQUENT EVENTS Debt Repurchases In April 2015, we repurchased, through cash tender offers and privately negotiated transactions, $61 million aggregate principal amount of certain DIB senior notes guaranteed by AIG for an aggregate purchase price of approximately $66 million using cash allocated to the DIB. In addition, in April 2015, we repurchased, through cash tender offers, approximately $915 million aggregate principal amount of certain junior subordinated debentures issued or guaranteed by AIG for an aggregate purchase price of approximately $1.25 billion. Dividends Declared and Increase in Share Repurchase Authorization On April 30, 2015, our Board of Directors declared a cash dividend on AIG Common Stock of $0.125 per share, payable on June 25, 2015 to shareholders of record on June 11, 2015. 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. On April 30, 2015, our Board of Directors authorized an additional increase to its previous repurchase authorization of AIG Common Stock of $3.5 billion, resulting in an aggregate remaining authorization on such date of approximately $3.8 billion. Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise. Certain of our share repurchases have been and may from time to time be effected through Exchange Act Rule 10b5-1 repurchase plans. The timing of any future share repurchases will depend on market conditions, our financial condition, results of operations, liquidity and other factors. See Note 11 to the Condensed Consolidated Financial Statements.

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 31, 2015
BASIS OF PRESENTATION
Sale of ILFC	Sale of ILFC On May 14, 2014, we completed the sale of 100 percent of the common stock of International Lease Finance Corporation (ILFC) to AerCap Ireland Limited, a wholly owned subsidiary of AerCap Holdings N.V. (AerCap), in exchange for total consideration of approximately $7.6 billion, including cash and 97.6 million newly issued AerCap common shares (the AerCap Transaction). The total value of the consideration was based in part on AerCap’s closing price per share of $47.01 on May 13, 2014. ILFC’s results of operations are reflected in Aircraft leasing revenue and Aircraft leasing expenses in the Condensed Consolidated Statements of Income through the date of the completion of the sale.
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: 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 losses and loss adjustment expenses; 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, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Standards Adopted During 2015	Accounting Standards Adopted During 2015 Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure In January 2014, the Financial Accounting Standards Board (FASB) issued an accounting standard that clarifies that a creditor is 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, when either (i) the creditor obtains legal title to the residential real estate property upon completion of a foreclosure or (ii) the borrower conveys all interest in the residential real estate property to the creditor to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. We adopted the standard on its required effective date of January 1, 2015. The adoption of this standard had no 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, must be presented as a discontinued operation if they meet the new definition. The standard also requires entities to provide disclosures about the disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation. We adopted the standard on its required effective date of January 1, 2015 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In June 2014, the FASB issued an accounting standard that changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires additional disclosures about repurchase agreements and other similar transactions. The standard aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as repurchase financings with the accounting for other typical repurchase agreements such that they all will be accounted for as secured borrowings. The standard eliminates sale accounting for repurchase-to-maturity transactions and supersedes the standard under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement. We adopted the standard on its required effective date of January 1, 2015 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	Future Application of Accounting Standards Revenue Recognition In May 2014, the FASB issued an accounting standard that supersedes most existing revenue recognition guidance. The standard excludes from its scope the accounting for insurance contracts, leases, financial instruments, and other agreements that are governed under other GAAP guidance, but could affect the revenue recognition for certain of our other activities. The standard is effective for interim and annual reporting periods beginning after December 15, 2016 and may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. Early adoption is not permitted. We plan to adopt the standard on its required effective date of January 1, 2017 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Accounting for Share-Based Payments with Performance Targets In June 2014, the FASB issued an accounting standard that clarifies the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The standard requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. We plan to adopt the standard on its required effective date of January 1, 2016 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. Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity In August 2014, the FASB issued an accounting standard that allows a reporting entity to measure the financial assets and financial liabilities of a qualifying consolidated collateralized financing entity using the fair value of either its financial assets or financial liabilities, whichever is more observable. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied retrospectively to all relevant prior periods presented starting with January 1, 2010 or through a cumulative effect adjustment to retained earnings at the date of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Consolidation: Amendments to the Consolidation Analysis In February 2015, the FASB issued an accounting standard that affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the year of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows.

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2015

Segment results

Schedule of year-end identifiable assets and capital expenditures by reportable segment

	2015				2014
				Pre-Tax				Pre-Tax
Three Months Ended March 31,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
Commercial Insurance
Property Casualty	$	5,956	$	1,170	$	6,112	$	1,116
Mortgage Guaranty		264		145		248		76
Institutional Markets		624		147		695		229
Total Commercial Insurance		6,844		1,462		7,055		1,421
Consumer Insurance
Retirement		2,388		800		2,485		915
Life		1,613		171		1,610		235
Personal Insurance		2,862		(26)		3,064		18
Total Consumer Insurance		6,863		945		7,159		1,168
Corporate and Other
Direct Investment book		178		145		519		440
Global Capital Markets		137		114		59		29
AIG Parent and Other^*		968		(120)		523		(538)
Consolidation and elimination		(273)		(1)		(133)		1
Total Corporate and Other		1,010		138		968		(68)
AIG Consolidation and elimination		(127)		(18)		(82)		35
Total AIG Consolidated revenues and pre-tax operating income	$	14,590	$	2,527	$	15,100	$	2,556
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair values of fixed maturity securities designated to
hedge living benefit liabilities, net of interest expense		44		44		76		76
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(54)		-		7
Loss on extinguishment of debt		-		(68)		-		(238)
Net realized capital gains		1,341		1,341		(152)		(152)
Income from divested businesses		(15)		(21)		1,113		21
Legal settlements related to legacy crisis matters		15		15		26		26
Legal reserves related to legacy crisis matters		-		(8)		-		(23)
Pre-tax income	$	15,975	$	3,776	$	16,163	$	2,273

* Includes Run-off Insurance Lines and Other Businesses.

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

3 Months Ended

Mar. 31, 2015

Discontinued operations

Held-for-Sale Classification and Discontinued Operations

Summary of income (loss) from discontinued operations

Three Months Ended March 31,
(in millions)		2015		2014
Revenues:
Gain (loss) on sale	$	1	$	(1)
Gain (loss) from discontinued operations, before income tax expense		1		(1)
Income tax expense		-		46
Income (loss) from discontinued operations, net of income tax expense	$	1	$	(47)

- 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, 2015

FAIR VALUE MEASUREMENTS

Assets and liabilities measured at fair value on a recurring basis

March 31, 2015							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	$	65	$	2,709	$	-	$	-	$	-	$	2,774
Obligations of states, municipalities and political subdivisions		-		25,579		2,256		-		-		27,835
Non-U.S. governments		716		19,139		34		-		-		19,889
Corporate debt		-		142,315		1,827		-		-		144,142
RMBS		-		20,387		17,345		-		-		37,732
CMBS		-		10,749		2,694		-		-		13,443
CDO/ABS		-		8,554		6,453		-		-		15,007
Total bonds available for sale		781		229,432		30,609		-		-		260,822
Other bond securities:
U.S. government and government sponsored entities		-		5,483		-		-		-		5,483
Obligations of states, municipalities and political subdivisions		-		76		-		-		-		76
Non-U.S. governments		-		2		-		-		-		2
Corporate debt		-		551		16		-		-		567
RMBS		-		888		1,288		-		-		2,176
CMBS		-		676		269		-		-		945
CDO/ABS		-		1,914		7,850		-		-		9,764
Total other bond securities		-		9,590		9,423		-		-		19,013
Equity securities available for sale:
Common stock		3,056		3		1		-		-		3,060
Preferred stock		25		-		-		-		-		25
Mutual funds		680		1		-		-		-		681
Total equity securities available for sale		3,761		4		1		-		-		3,766
Other equity securities		1,076		2		22		-		-		1,100
Mortgage and other loans receivable		-		-		6		-		-		6
Other invested assets		2		4,096		5,098		-		-		9,196
Derivative assets:
Interest rate contracts		1		4,806		14		-		-		4,821
Foreign exchange contracts		-		971		-		-		-		971
Equity contracts		109		7		68		-		-		184
Commodity contracts		-		-		-		-		-		-
Credit contracts		-		-		4		-		-		4
Other contracts		-		-		29		-		-		29
Counterparty netting and cash collateral		-		-		-		(2,476)		(1,912)		(4,388)
Total derivative assets		110		5,784		115		(2,476)		(1,912)		1,621
Short-term investments		566		642		-		-		-		1,208
Separate account assets		76,673		5,466		-		-		-		82,139
Total	$	82,969	$	255,016	$	45,274	$	(2,476)	$	(1,912)	$	378,871
Liabilities:
Policyholder contract deposits	$	-	$	47	$	1,835	$	-	$	-	$	1,882
Other policyholder funds		-		8		-		-		-		8

Derivative liabilities:
Interest rate contracts		-		4,073		83		-		-		4,156
Foreign exchange contracts		-		1,445		8		-		-		1,453
Equity contracts		-		87		2		-		-		89
Commodity contracts		-		6		-		-		-		6
Credit contracts		-		-		795		-		-		795
Other contracts		-		-		88		-		-		88
Counterparty netting and cash collateral		-		-		-		(2,476)		(1,460)		(3,936)
Total derivative liabilities		-		5,611		976		(2,476)		(1,460)		2,651
Long-term debt		-		4,658		186		-		-		4,844
Other liabilities		-		178		-		-		-		178
Total	$	-	$	10,502	$	2,997	$	(2,476)	$	(1,460)	$	9,563

December 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	$	322	$	2,670	$	-	$	-	$	-	$	2,992
Obligations of states, municipalities and political subdivisions		-		25,500		2,159		-		-		27,659
Non-U.S. governments		742		20,323		30		-		-		21,095
Corporate debt		-		142,550		1,883		-		-		144,433
RMBS		-		20,715		16,805		-		-		37,520
CMBS		-		10,189		2,696		-		-		12,885
CDO/ABS		-		7,165		6,110		-		-		13,275
Total bonds available for sale		1,064		229,112		29,683		-		-		259,859
Other bond securities:
U.S. government and government sponsored entities		130		5,368		-		-		-		5,498
Obligations of states, municipalities and political subdivisions		-		122		-		-		-		122
Non-U.S. governments		-		2		-		-		-		2
Corporate debt		-		719		-		-		-		719
RMBS		-		989		1,105		-		-		2,094
CMBS		-		708		369		-		-		1,077
CDO/ABS		-		2,751		7,449		-		-		10,200
Total other bond securities		130		10,659		8,923		-		-		19,712
Equity securities available for sale:
Common stock		3,626		2		1		-		-		3,629
Preferred stock		25		-		-		-		-		25
Mutual funds		738		3		-		-		-		741
Total equity securities available for sale		4,389		5		1		-		-		4,395
Other equity securities		1,024		25		-		-		-		1,049
Mortgage and other loans receivable		-		-		6		-		-		6
Other invested assets		2		3,742		5,650		-		-		9,394
Derivative assets:
Interest rate contracts		2		3,729		12		-		-		3,743
Foreign exchange contracts		-		839		1		-		-		840
Equity contracts		98		58		51		-		-		207
Commodity contracts		-		-		-		-		-		-
Credit contracts		-		-		4		-		-		4
Other contracts		-		-		31		-		-		31
Counterparty netting and cash collateral		-		-		-		(2,102)		(1,119)		(3,221)
Total derivative assets		100		4,626		99		(2,102)		(1,119)		1,604

Short-term investments		584		1,100		-		-		-		1,684
Separate account assets		73,939		6,097		-		-		-		80,036
Total	$	81,232	$	255,366	$	44,362	$	(2,102)	$	(1,119)	$	377,739
Liabilities:
Policyholder contract deposits	$	-	$	52	$	1,509	$	-	$	-	$	1,561
Other policyholder funds		-		8		-		-		-		8
Derivative liabilities:
Interest rate contracts		-		3,047		86		-		-		3,133
Foreign exchange contracts		-		1,482		9		-		-		1,491
Equity contracts		-		98		4		-		-		102
Commodity contracts		-		6		-		-		-		6
Credit contracts		-		-		982		-		-		982
Other contracts		-		-		90		-		-		90
Counterparty netting and cash collateral		-		-		-		(2,102)		(1,429)		(3,531)
Total derivative liabilities		-		4,633		1,171		(2,102)		(1,429)		2,273
Long-term debt		-		5,253		213		-		-		5,466
Other liabilities		34		316		-		-		-		350
Total	$	34	$	10,262	$	2,893	$	(2,102)	$	(1,429)	$	9,658

* 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		in Income		Income (Loss)		Settlements, Net		in		out		of Period		at End of Period
Three Months Ended March 31, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,159	$	1	$	45	$	65	$	-	$	(14)	$	2,256	$	-
Non-U.S. governments		30		-		-		4		-		-		34		-
Corporate debt		1,883		-		17		(61)		44		(56)		1,827		-
RMBS		16,805		258		(72)		354		-		-		17,345		-
CMBS		2,696		24		10		30		-		(66)		2,694		-
CDO/ABS		6,110		33		29		402		-		(121)		6,453		-
Total bonds available for sale		29,683		316		29		794		44		(257)		30,609		-
Other bond securities:
Corporate debt		-		-		-		-		16		-		16		-
RMBS		1,105		(19)		-		204		29		(31)		1,288		(31)
CMBS		369		-		-		(100)		-		-		269		2
CDO/ABS		7,449		132		-		(238)		581		(74)		7,850		(40)
Total other bond securities		8,923		113		-		(134)		626		(105)		9,423		(69)
Equity securities available for sale:
Common stock		1		-		-		-		-		-		1		-
Total equity securities available for sale		1		-		-		-		-		-		1		-
Other equity securities		-		-		-		-		22		-		22		(3)
Mortgage and other loans receivable		6		-		-		-		-		-		6		-
Other invested assets		5,650		446		(511)		(494)		7		-		5,098		-
Total	$	44,263	$	875	$	(482)	$	166	$	699	$	(362)	$	45,159	$	(72)
Liabilities:
Policyholder contract deposits	$	(1,509)	$	(275)	$	-	$	(51)	$	-	$	-	$	(1,835)	$	(50)
Derivative liabilities, net:
Interest rate contracts		(74)		(4)		-		9		-		-		(69)		(4)
Foreign exchange contracts		(8)		1		-		(1)		-		-		(8)		1
Equity contracts		47		8		-		11		-		-		66		5
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		(978)		147		-		40		-		-		(791)		28
Other contracts		(59)		14		2		(16)		-		-		(59)		14
Total derivative liabilities, net^(a)		(1,072)		166		2		43		-		-		(861)		44
Long-term debt^(b)		(213)		15		-		12		-		-		(186)		19
Total	$	(2,794)	$	(94)	$	2	$	4	$	-	$	-	$	(2,882)	$	13
				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		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^(c)	$	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)		-		-
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^(a)		(1,439)		87		(1)		3		47		-		(1,303)		99
Long-term debt^(b)		(370)		(3)		-		19		(70)		21		(403)		7
Total	$	(2,121)	$	(390)	$	(9)	$	51	$	(23)	$	21	$	(2,471)	$	24

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

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

(c) 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, 2015
Bonds available for sale	$	311	$	(9)	$	14	$	316
Other bond securities		18		6		89		113
Other invested assets		68		389		(11)		446
Policyholder contract deposits		-		(275)		-		(275)
Derivative liabilities, net		19		6		141		166
Long-term debt		-		-		15		15
Three Months Ended March 31, 2014
Bonds available for sale	$	304	$	(36)	$	13	$	281
Other bond securities		51		1		328		380
Other invested assets		77		(4)		6		79
Policyholder contract deposits		-		(474)		-		(474)
Derivative liabilities, net		15		(3)		75		87
Long-term debt		-		-		(3)		(3)

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, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	107	$	(22)	$	(20)	$	65
Non-U.S. governments		6		-		(2)		4
Corporate debt		6		(50)		(17)		(61)
RMBS		961		(22)		(585)		354
CMBS		72		(27)		(15)		30
CDO/ABS		579		(23)		(154)		402
Total bonds available for sale		1,731		(144)		(793)		794
Other bond securities:
RMBS		245		(6)		(35)		204
CMBS		-		(36)		(64)		(100)
CDO/ABS		214		(40)		(412)		(238)
Total other bond securities		459		(82)		(511)		(134)
Equity securities available for sale		-		-		-		-
Other invested assets		240		(586)		(148)		(494)
Total assets	$	2,430	$	(812)	$	(1,452)	$	166
Liabilities:
Policyholder contract deposits	$	-	$	(73)	$	22	$	(51)
Derivative liabilities, net		15		-		28		43
Long-term debt^(b)		-		-		12		12
Total liabilities	$	15	$	(73)	$	62	$	4
Three Months Ended March 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions^(c)	$	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:
Corporate debt		-		-		-		-
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^(b)		-		-		19		19
Total liabilities	$	1	$	(12)	$	62	$	51

(a) There were no issuances during the three-month periods ended March 31, 2015 and 2014, respectively.

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

Significant unobservable inputs used for recurring fair value measurements

	Fair Value at
	March 31,		Valuation		Range
(in millions)	2015		Technique	Unobservable Input	(Weighted Average)
Assets:

Obligations of states,	$	1,263	Discounted cash flow	Yield^(b)	3.78% - 4.46% (4.12%)
municipalities and
political subdivisions

Corporate debt		1,085	Discounted cash flow	Yield^(b)	3.77% - 8.21% (5.99%)


RMBS		18,003	Discounted cash flow	Constant prepayment rate^(a)(c)	0.76% - 9.06% (4.91%)
				Loss severity^(a)(c)	46.57% - 80.00% (63.29%)
				Constant default rate^(a)(c)	3.56% - 9.28% (6.42%)
				Yield^(c)	2.79% - 6.29% (4.54%)

Certain CDO/ABS		5,259	Discounted cash flow	Constant prepayment rate^(a)(c)	6.30% - 12.00% (8.70%)
				Loss severity^(a)(c)	43.90% - 58.50% (51.40%)
				Constant default rate^(a)(c)	2.50% - 14.30% (7.70%)
				Yield^(c)	4.60% - 8.70% (6.90%)

CMBS		2,583	Discounted cash flow	Yield^(b)	0.00% - 17.56% (5.88%)

CDO/ABS - DIB			Binomial Expansion	Recovery rate^(b)	5.00% - 33.00% (21.00%)
		310	Technique (BET)	Diversity score^(b)	3 - 26 (12)
				Weighted average life^(b)	0.27 - 10.40 years (4.97 years)
Liabilities:

Policyholder contract
deposits

GMWB		1,121	Discounted cash flow	Equity implied volatility^(b)	6.00% - 39.00%^(d)
				Base lapse rate^(b)	1.00% - 40.00%^(d)
				Dynamic lapse rate^(b)	0.20% - 60.00%^(d)
				Mortality rate^(b)	0.10% - 35.00%^(d)
				Utilization rate^(b)	0.50% - 30.00%^(d)

Index Annuities		361	Discounted cash flow	Lapse rates	0.75% - 66.00%^(d)
				Mortality rates	0.02% - 44.06%^(d)


Index Life	291	Discounted cash flow	Equity implied volatility	10.00% to 25.00%^(d)
			Base lapse rate	2.00% to 19.00%^(d)
			Mortality rates	0.00% to 20.00%^(d)

Total derivative
liabilities, net	554	BET	Recovery rate^(b)	8.00% - 23.00% (11.00%)
			Diversity score^(b)	9 - 22 (14)
			Weighted average life^(b)	3.09 - 10.40 years (7.12 years)


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

Obligations of states,	$	1,178	Discounted cash flow	Yield^(b)	3.9% - 4.62% (4.26%)
municipalities and
political subdivisions

Corporate debt		1,145	Discounted cash flow	Yield^(b)	3.46% - 8.75% (6.10%)


RMBS		17,353	Discounted cash flow	Constant prepayment rate^(a)(c)	0.59% - 9.35% (4.97%)
				Loss severity^(a)(c)	46.04% - 79.56% (62.80%)
				Constant default rate^(a)(c)	3.67% - 9.96% (6.82%)
				Yield^(c)	2.67% - 6.64% (4.65%)

Certain CDO/ABS		5,282	Discounted cash flow	Constant prepayment rate^(a)(c)	6.40% - 12.80% (9.20%)
				Loss severity^(a)(c)	42.90% - 60.30% (51.90%)
				Constant default rate^(a)(c)	2.50% - 14.70% (7.80%)
				Yield^(c)	4.70% - 9.70% (7.10%)

CMBS		2,687	Discounted cash flow	Yield^(b)	0.00% - 17.29% (6.06%)

CDO/ABS - DIB			Binomial Expansion	Recovery rate^(b)	7.00% - 36.00% (21.00%)
		279	Technique (BET)	Diversity score^(b)	5 - 27 (12)
				Weighted average life^(b)	0.25 - 10.49 years (3.93 years)
Liabilities:

Policyholder contract
deposits

GMWB		890	Discounted cash flow	Equity implied volatility^(b)	6.00% - 39.00%^(d)
				Base lapse rate^(b)	1.00% - 40.00%^(d)
				Dynamic lapse rate^(b)	0.20% - 60.00%^(d)
				Mortality rate^(b)	0.10% - 35.00%^(d)
				Utilization rate^(b)	0.50% - 30.00%^(d)

Index Annuities		294	Discounted cash flow	Lapse rates	0.75% - 66%^(d)
				Mortality rates	0.02% - 44.06%^(d)

Index Life	259	Discounted cash flow	Equity implied volatility	10.00% to 25.00%^(d)
			Base lapse rate	2.00% to 19.00%^(d)
			Mortality rate	0.00% to 20.00%^(d)

Total derivative
liabilities, net	791	BET	Recovery rate^(b)	5.00% - 23.00% (13.00%)
			Diversity score^(b)	8 - 25 (13)
			Weighted average life^(b)	2.67 - 10.49 years (4.65 years)

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

(d) Represents actual maximum and minimum, not weighted average rates.

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

		March 31, 2015				December 31, 2014
			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	$	2,123	$	461	$	2,275	$	450

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		370		205		384		227

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		30		121		26

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		161		43		164		43

Other	Includes multi-strategy, mezzanine and other strategies		248		209		216		234
Total private equity funds			3,035		948		3,160		980
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		1,182		-		1,109		-

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		2,750		1		2,428		1

Macro	Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions		531		-		498		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		736		23		731		5

Emerging markets	Investments in the financial markets of developing countries		339		-		308		-

Other	Includes multi-strategy, relative value and other strategies		173		-		125		-
Total hedge funds			5,711		24		5,199		6
Total		$	8,746	$	972	$	8,359	$	986

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)		2015		2014
Assets:
Mortgage and other loans receivable	$	-	$	-
Bond and equity securities		141		666
Alternative investments^(a)		145		154
Other, including Short-term investments		2		3
Liabilities:
Long-term debt^(b)		(76)		(74)
Other liabilities		(3)		(4)
Total gain	$	209	$	745

(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, 2015						December 31, 2014
			Outstanding						Outstanding
(in millions)	Fair Value		Principal Amount		Difference		Fair Value		Principal Amount		Difference
Assets:
Mortgage and other loans receivable	$	6	$	4	$	2	$	6	$	4	$	2
Liabilities:
Long-term debt^*	$	4,844	$	3,541	$	1,303	$	5,466	$	4,101	$	1,365

* 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		2015		2014
March 31, 2015
Other investments	$	-	$	-	$	1,058	$	1,058	$	25	$	49
Investments in life settlements		-		-		308		308		70		42
Other assets		-		-		9		9		4		1
Total	$	-	$	-	$	1,375	$	1,375	$	99	$	92
December 31, 2014
Other investments	$	-	$	-	$	790	$	790
Investments in life settlements		-		-		537		537
Other assets		-		-		1		1
Total	$	-	$	-	$	1,328	$	1,328

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, 2015
Assets:
Mortgage and other loans receivable	$	-	$	424	$	26,730	$	27,154	$	25,307
Other invested assets		-		549		2,912		3,461		4,324
Short-term investments		-		10,753		-		10,753		10,753
Cash		1,823		-		-		1,823		1,823
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		253		120,740		120,993		106,646
Other liabilities		-		1,300		-		1,300		1,300
Long-term debt		-		25,928		3,807		29,735		27,155
December 31, 2014
Assets:
Mortgage and other loans receivable	$	-	$	449	$	26,157	$	26,606	$	24,984
Other invested assets		-		593		2,882		3,475		4,352
Short-term investments		-		9,559		-		9,559		9,559
Cash		1,758		-		-		1,758		1,758
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		244		119,268		119,512		106,395
Other liabilities		-		1,120		-		1,120		1,120
Long-term debt		-		24,749		2,932		27,681		25,751

INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2015

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, 2015
Bonds available for sale:
U.S. government and government sponsored entities	$	2,557	$	222	$	(5)	$	2,774	$	-
Obligations of states, municipalities and political subdivisions		26,088		1,783		(36)		27,835		-
Non-U.S. governments		18,857		1,149		(117)		19,889		-
Corporate debt		133,066		11,923		(847)		144,142		57
Mortgage-backed, asset-backed and collateralized:
RMBS		34,551		3,466		(285)		37,732		1,698
CMBS		12,503		971		(31)		13,443		224
CDO/ABS		14,492		665		(150)		15,007		38
Total mortgage-backed, asset-backed and collateralized		61,546		5,102		(466)		66,182		1,960
Total bonds available for sale^(b)		242,114		20,179		(1,471)		260,822		2,017
Equity securities available for sale:
Common stock		1,000		2,071		(11)		3,060		-
Preferred stock		21		4		-		25		-
Mutual funds		662		63		(44)		681		-
Total equity securities available for sale		1,683		2,138		(55)		3,766		-
Total	$	243,797	$	22,317	$	(1,526)	$	264,588	$	2,017
December 31, 2014
Bonds available for sale:
U.S. government and government sponsored entities	$	2,806	$	204	$	(18)	$	2,992	$	-
Obligations of states, municipalities and political subdivisions		25,979		1,729		(49)		27,659		(13)
Non-U.S. governments		20,280		966		(151)		21,095		-
Corporate debt		134,961		10,594		(1,122)		144,433		64
Mortgage-backed, asset-backed and collateralized:
RMBS		34,377		3,435		(292)		37,520		1,767
CMBS		12,129		815		(59)		12,885		215
CDO/ABS		12,775		628		(128)		13,275		47
Total mortgage-backed, asset-backed and collateralized		59,281		4,878		(479)		63,680		2,029
Total bonds available for sale^(b)		243,307		18,371		(1,819)		259,859		2,080
Equity securities available for sale:
Common stock		1,185		2,461		(17)		3,629		-
Preferred stock		21		4		-		25		-
Mutual funds		724		54		(37)		741		-
Total equity securities available for sale		1,930		2,519		(54)		4,395		-
Total	$	245,237	$	20,890	$	(1,873)	$	264,254	$	2,080

(b) At March 31, 2015 and December 31, 2014, bonds available for sale held by us that were below investment grade or not rated totaled $36.1 billion and $35.1 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, 2015
Bonds available for sale:
U.S. government and government sponsored entities	$	120	$	1	$	141	$	4	$	261	$	5
Obligations of states, municipalities and political
subdivisions		1,130		14		460		22		1,590		36
Non-U.S. governments		1,605		47		884		70		2,489		117
Corporate debt		12,048		449		4,563		398		16,611		847
RMBS		5,540		125		2,953		160		8,493		285
CMBS		453		3		603		28		1,056		31
CDO/ABS		3,193		56		1,812		94		5,005		150
Total bonds available for sale		24,089		695		11,416		776		35,505		1,471
Equity securities available for sale:
Common stock		58		11		-		-		58		11
Mutual funds		275		44		-		-		275		44
Total equity securities available for sale		333		55		-		-		333		55
Total	$	24,422	$	750	$	11,416	$	776	$	35,838	$	1,526
December 31, 2014
Bonds available for sale:
U.S. government and government sponsored entities	$	526	$	5	$	281	$	13	$	807	$	18
Obligations of states, municipalities and political
subdivisions		495		9		794		40		1,289		49
Non-U.S. governments		1,606		42		1,690		109		3,296		151
Corporate debt		12,132		450		11,570		672		23,702		1,122
RMBS		4,621		109		3,996		183		8,617		292
CMBS		220		1		2,087		58		2,307		59
CDO/ABS		3,857		50		1,860		78		5,717		128
Total bonds available for sale		23,457		666		22,278		1,153		45,735		1,819
Equity securities available for sale:
Common stock		88		16		2		1		90		17
Mutual funds		280		37		64		-		344		37
Total equity securities available for sale		368		53		66		1		434		54
Total	$	23,825	$	719	$	22,344	$	1,154	$	46,169	$	1,873

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, 2015	Available for Sale				Position Available for Sale
(in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	10,434	$	10,590	$	655	$	632
Due after one year through five years		48,034		50,920		4,452		4,314
Due after five years through ten years		59,209		62,855		8,569		8,170
Due after ten years		62,891		70,275		8,280		7,835
Mortgage-backed, asset-backed and collateralized		61,546		66,182		15,020		14,554
Total	$	242,114	$	260,822	$	36,976	$	35,505
December 31, 2014
Due in one year or less	$	9,821	$	9,975	$	637	$	620
Due after one year through five years		48,352		50,873		6,669		6,529
Due after five years through ten years		62,685		65,889		12,873		12,338
Due after ten years		63,168		69,442		10,255		9,607
Mortgage-backed, asset-backed and collateralized		59,281		63,680		17,120		16,641
Total	$	243,307	$	259,859	$	47,554	$	45,735

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

		2015				2014
		Gross		Gross		Gross		Gross
Three Months Ended March 31,	Realized		Realized		Realized		Realized
(in millions)		Gains		Losses		Gains		Losses
Fixed maturity securities	$	149	$	118	$	216	$	31
Equity securities		496		5		30		2
Total	$	645	$	123	$	246	$	33

The fair value of AIG's other securities

		March 31, 2015				December 31, 2014
		Fair	Percent			Fair	Percent
(in millions)		Value	of Total			Value	of Total
Fixed maturity securities:
U.S. government and government sponsored entities	$	5,483	27	%	$	5,498	27	%
Obligations of states, municipalities and political subdivisions		76	-			122	1
Non-U.S. governments		2	-			2	-
Corporate debt		567	3			719	3
Mortgage-backed, asset-backed and collateralized:
RMBS		2,176	11			2,094	10
CMBS		945	5			1,077	5
CDO/ABS and other collateralized^*		9,764	49			10,200	49
Total mortgage-backed, asset-backed and collateralized		12,885	65			13,371	64
Total fixed maturity securities		19,013	95			19,712	95
Equity securities		1,100	5			1,049	5
Total	$	20,113	100	%	$	20,761	100	%

* Includes $825 million and $859 million of U.S. Government agency backed ABS at March 31, 2015 and December 31, 2014, respectively.

Components of net investment income

Three Months Ended March 31,
(in millions)		2015		2014
Fixed maturity securities, including short-term investments	$	2,883	$	3,131
Equity securities		15		(85)
Interest on mortgage and other loans		339		318
Alternative investments^*		689		925
Real estate		26		28
Other investments		38		11
Total investment income		3,990		4,328
Investment expenses		152		132
Net investment income	$	3,838	$	4,196

* 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)		2015		2014
Sales of fixed maturity securities	$	31	$	185
Sales of equity securities		491		28
Other-than-temporary impairments:
Severity		(2)		-
Change in intent		(24)		(5)
Foreign currency declines		(29)		(4)
Issuer-specific credit events		(68)		(49)
Adverse projected cash flows		(5)		(1)
Provision for loan losses		24		5
Foreign exchange transactions		254		26
Derivative instruments		208		(289)
Impairments on investments in life settlements		(70)		(42)
Other^*		531		(6)
Net realized capital gains (losses)	$	1,341	$	(152)

* Includes realized gains due to the sale of Class B shares of Prudential Financial, Inc.

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

Three Months Ended March 31,
(in millions)		2015		2014
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	2,156	$	3,994
Equity securities		(382)		(128)
Other investments		(503)		73
Total increase (decrease) in unrealized appreciation (depreciation) of investments^*	$	1,271	$	3,939

* 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)		2015		2014
Balance, beginning of year	$	2,659	$	3,872
Increases due to:
Credit impairments on new securities subject to impairment losses		15		8
Additional credit impairments on previously impaired securities		22		36
Reductions due to:
Credit impaired securities fully disposed for which there was no
prior intent or requirement to sell		(42)		(330)
Accretion on securities previously impaired due to credit^*		(188)		(188)
Other		-		(9)
Balance, end of period	$	2,466	$	3,389

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

(in millions)	At Date of Acquisition
Contractually required payments (principal and interest)	$	31,562
Cash flows expected to be collected^*		25,480
Recorded investment in acquired securities		16,986

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

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

(in millions)	March 31, 2015		December 31, 2014
Outstanding principal balance	$	17,362	$	16,962
Amortized cost		12,601		12,216
Fair value		13,788		13,462

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

Three Months Ended March 31,
(in millions)		2015		2014
Balance, beginning of period	$	6,865	$	6,940
Newly purchased PCI securities		245		522
Disposals		-		-
Accretion		(220)		(212)
Effect of changes in interest rate indices		(138)		(59)
Net reclassification to/(from) non-accretable difference,
including effects of prepayments		13		(21)
Balance, end of period	$	6,765	$	7,170

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

(in millions)		March 31, 2015		December 31, 2014
Other bond securities		1,180		2,122

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

(in millions)		March 31, 2015		December 31, 2014
Securities collateral pledged to us	$	4,340	$	2,506
Amount sold or repledged by us		132		131

LENDING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2015

LENDING ACTIVITIES

Composition of Mortgages and other loans receivable

	March 31,			December 31,
(in millions)		2015		2014
Commercial mortgages^*	$	19,172	$	18,909
Life insurance policy loans		2,665		2,710
Commercial loans, other loans and notes receivable		3,726		3,642
Total mortgage and other loans receivable		25,563		25,261
Allowance for losses		(250)		(271)
Mortgage and other loans receivable, net	$	25,313	$	24,990

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, 2015
Credit Quality Indicator:
In good standing	983	$	3,383	$	6,449	$	4,073	$	2,020	$	1,713	$	1,080	$	18,718	98	%
Restructured^(a)	8		-		408		6		-		16		-		430	2
90 days or less delinquent	1		-		-		-		-		-		-		-	-
>90 days delinquent or in
process of foreclosure	5		-		14		10		-		-		-		24	-
Total^(b)	997	$	3,383	$	6,871	$	4,089	$	2,020	$	1,729	$	1,080	$	19,172	100	%
Valuation allowance		$	1	$	74	$	29	$	23	$	6	$	10	$	143	1	%

December 31, 2014
Credit Quality Indicator:
In good standing	1,007	$	3,384	$	6,100	$	3,807	$	1,689	$	1,660	$	1,812	$	18,452	98	%
Restructured^(a)	7		-		343		7		-		17		-		367	2
90 days or less delinquent	6		-		-		10		-		-		5		15	-
>90 days delinquent or in
process of foreclosure	4		-		75		-		-		-		-		75	-
Total^(b)	1,024	$	3,384	$	6,518	$	3,824	$	1,689	$	1,677	$	1,817	$	18,909	100	%
Allowance for losses		$	3	$	86	$	28	$	22	$	6	$	14	$	159	1	%

(b) Does not reflect valuation allowances.

(c) Over 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

	2015						2014
Three Months Ended March 31,		Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	159	$	112	$	271	$	201	$	111	$	312
Loans charged off		-		(1)		(1)		-		-		-
Recoveries of loans previously charged off		4		-		4		-		-		-
Net charge-offs		4		(1)		3		-		-		-
Provision for loan losses		(20)		(4)		(24)		(1)		(12)		(13)
Other		-		-		-		-		-		-
Allowance, end of period	$	143 ^*	$	107	$	250	$	200 ^*	$	99	$	299

VARIABLE INTEREST ENTITIES (Tables)

3 Months Ended

Mar. 31, 2015

VARIABLE INTEREST ENTITIES

Schedule of Consolidated Variable Interest Entities

(in millions)		Real Estate and Investment Entities^(d)		Securitization Vehicles		Structured Investment Vehicle		Affordable Housing Partnerships		Other		Total
March 31, 2015
Assets:
Bonds available for sale	$	-	$	11,389	$	-	$	-	$	34	$	11,423
Other bond securities		-		6,850		528		-		38		7,416
Mortgage and other loans receivable		-		2,359		-		-		155		2,514
Other invested assets		611		632		-		1,846		27		3,116
Other ^(a)		41		1,298		142		57		70		1,608
Total assets^(b)	$	652	$	22,528	$	670	$	1,903	$	324	$	26,077
Liabilities:
Long-term debt	$	68	$	1,318	$	52	$	265	$	6	$	1,709
Other ^(c)		37		247		1		140		33		458
Total liabilities	$	105	$	1,565	$	53	$	405	$	39	$	2,167

December 31, 2014
Assets:
Bonds available for sale	$	-	$	11,459	$	-	$	-	$	35	$	11,494
Other bond securities		-		7,251		615		-		40		7,906
Mortgage and other loans receivable		-		2,398		-		-		162		2,560
Other invested assets		577		651		-		1,684		29		2,941
Other ^(a)		40		1,447		140		49		76		1,752
Total assets^(b)	$	617	$	23,206	$	755	$	1,733	$	342	$	26,653
Liabilities:
Long-term debt	$	69	$	1,370	$	52	$	199	$	7	$	1,697
Other^(c)		32		276		-		101		37		446
Total liabilities	$	101	$	1,646	$	52	$	300	$	44	$	2,143

(a) Comprised primarily of Short-term investments, Premiums and other receivables and Other assets at both March 31, 2015 and December 31, 2014.

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

(c) Comprised primarily of Other liabilities and Derivative liabilities, at fair value, at both March 31, 2015 and December 31, 2014.

(d) At March 31, 2015 and December 31, 2014, off-balance sheet exposure, primarily consisting of commitments to real estate and investment entities, was $81.9 million and $56.4 million, respectively.

Schedule of Unconsolidated Variable Interest Entities

			Maximum Exposure to Loss
		Total VIE		On-Balance		Off-Balance
(in millions)		Assets		Sheet^*		Sheet		Total
March 31, 2015
Real estate and investment entities	$	19,342	$	2,817	$	433	$	3,250
Affordable housing partnerships		7,760		405		-		405
Other		383		14		-		14
Total	$	27,485	$	3,236	$	433	$	3,669
December 31, 2014
Real estate and investment entities	$	19,949	$	2,785	$	454	$	3,239
Affordable housing partnerships		7,911		425		-		425
Other		617		32		-		32
Total	$	28,477	$	3,242	$	454	$	3,696

* At both March 31, 2015 and December 31, 2014, $3.2 billion of our total unconsolidated VIE assets were recorded as Other invested assets.

DERIVATIVES AND HEDGE ACCOUNTING (Tables)

3 Months Ended

Mar. 31, 2015

DERIVATIVES AND HEDGE ACCOUNTING

Notional amounts and fair values of derivative instruments

	March 31, 2015								December 31, 2014
	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	$	155	$	2	$	25	$	2	$	155	$	-	$	25	$	2
Foreign exchange contracts		1,201		107		1,086		99		611		25		1,794		239
Equity contracts		34		2		92		14		7		1		104		13
Derivatives not designated
as hedging instruments:
Interest rate contracts		77,540		4,819		58,358		4,201		65,070		3,743		45,251		3,183
Foreign exchange contracts		11,847		864		10,426		1,354		13,667		815		8,516		1,251
Equity contracts^(b)		7,470		182		42,928		1,926		7,565		206		42,387		1,615
Commodity contracts		13		-		12		6		15		-		11		6
Credit contracts		5		4		1,438		795		5		4		5,288		982
Other contracts^(c)		36,221		29		490		88		36,155		31		538		90
Total derivatives not
designated as hedging
instruments		133,096		5,898		113,652		8,370		122,477		4,799		101,991		7,127
Total derivatives, gross	$	134,486	$	6,009	$	114,855	$	8,485	$	123,250	$	4,825	$	103,914	$	7,381

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

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

	March 31, 2015								December 31, 2014
	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
GCM derivatives:
AIG Financial Products	$	21,971	$	2,599	$	22,693	$	3,380	$	23,153	$	2,445	$	27,719	$	3,019
AIG Markets, Inc. (AIG Markets)		67,667		2,984		43,611		2,513		55,005		1,935		29,251		2,136
Total GCM derivatives^(a)		89,638		5,583		66,304		5,893		78,158		4,380		56,970		5,155
Non-GCM derivatives^(b)		44,848		426		48,551		2,592		45,092		445		46,944		2,226
Total derivatives, gross	$	134,486		6,009	$	114,855		8,485	$	123,250		4,825	$	103,914		7,381
Counterparty netting^(c)				(2,476)				(2,476)				(2,102)				(2,102)
Cash collateral^(d)				(1,912)				(1,460)				(1,119)				(1,429)
Total derivatives, net				1,621				4,549				1,604				3,850
Less: Bifurcated embedded derivatives				-				1,898				-				1,577
Total derivatives on condensed
consolidated balance sheets			$	1,621			$	2,651			$	1,604			$	2,273

(d) Represents cash collateral posted and received that is eligible for netting.

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

	Gains/(Losses) Recognized in Earnings for:				Including Gains/(Losses) Attributable to:
	Hedging		Hedged		Hedge		Excluded
(in millions)	Derivatives^(a)		Items		Ineffectiveness		Components		Other^(b)
Three Months Ended March 31, 2015
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(1)	$	-	$	-	$	-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		3		-		-		3
Gain/(Loss) on extinguishment of debt		-		13		-		-		13
Foreign exchange contracts:
Realized capital gains/(losses)		132		(128)		-		1		3
Interest credited to policyholder
account balances		-		(1)		-		-		(1)
Other income		-		6		-		-		6
Gain/(Loss) on extinguishment of debt		-		16		-		-		16
Equity contracts:
Realized capital gains/(losses)		(6)		5		-		(1)		-
Three Months Ended March 31, 2014
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(2)	$	-	$	-	$	(1)
Interest credited to policyholder
account balances		-		(1)		-		-		(1)
Other income		-		18		-		-		18
Gain/(Loss) on extinguishment of debt		-		50		-		-		50
Foreign exchange contracts:
Realized capital gains/(losses)		24		(32)		-		(8)		-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		-		-		-		-
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Equity contracts
Realized capital gains/(losses)		1		(1)		-		-		-

(a) The amounts presented do not include the periodic net coupon settlements of the derivative contract or the coupon income (expense) related to the hedged item.

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)		2015		2014
By Derivative Type:
Interest rate contracts^(a)	$	361	$	139
Foreign exchange contracts		322		(14)
Equity contracts^(b)		(268)		(428)
Commodity contracts		(1)		1
Credit contracts		147		80
Other contracts		23		15
Total	$	584	$	(207)
By Classification:
Policy fees	$	19	$	15
Net investment income		27		(1)
Net realized capital gains (losses)		171		(275)
Other income		362		49
Policyholder benefits and claims incurred		5		5
Total	$	584	$	(207)

(a) Includes cross currency swaps.

(b) Includes embedded derivative losses of $178 million and $396 million for the three month periods ended March 31, 2015 and 2014, respectively.

- 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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-Paragraph 1

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+ Details

EQUITY (Tables)

3 Months Ended

Mar. 31, 2015

EQUITY

Rollforward of common stock outstanding

	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Three Months Ended March 31, 2015
Shares, beginning of year	1,906,671,492	(530,744,521)	1,375,926,971
Shares issued	-	5,995	5,995
Shares repurchased	-	(28,855,379)	(28,855,379)
Shares, end of period	1,906,671,492	(559,593,905)	1,347,077,587

Accumulated Other Comprehensive Income (Loss)

		Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than- Temporary Credit Impairments Were Recognized
				Unrealized Appreciation (Depreciation) of All Other Investments		Foreign Currency Translation Adjustments		Change in Retirement Plan Liabilities Adjustment


(in millions)										Total
Balance, December 31, 2014, net of tax	$	1,043	$	12,327	$	(1,784)	$	(969)	$	10,617
Change in unrealized appreciation (depreciation) of investments		(59)		1,330		-		-		1,271
Change in deferred acquisition costs adjustment and other		(19)		80		-		-		61
Change in future policy benefits		(23)		(380)		-		-		(403)
Change in foreign currency translation adjustments		-		-		(632)		-		(632)
Net actuarial gain		-		-		-		43		43
Prior service cost		-		-		-		(12)		(12)
Change in deferred tax asset (liability)		29		(491)		173		(2)		(291)
Total other comprehensive income (loss)		(72)		539		(459)		29		37
Noncontrolling interests		-		-		(3)		-		(3)
Balance, March 31, 2015, net of tax	$	971	$	12,866	$	(2,240)	$	(940)	$	10,657

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

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, 2015
Unrealized change arising during period	$	(92)	$	1,507	$	(632)	$	7	$	790
Less: Reclassification adjustments
included in net income		9		477		-		(24)		462
Total other comprehensive income (loss),
before income tax expense (benefit)		(101)		1,030		(632)		31		328
Less: Income tax expense (benefit)		(29)		491		(173)		2		291
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(72)	$	539	$	(459)	$	29	$	37

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

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)			2015		2014	Condensed Consolidated Statements of Income
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized

Investments		$	9	$	8	Other realized capital gains
Total			9		8
Unrealized appreciation (depreciation) of
all other investments
Investments			512		204	Other realized capital gains
Deferred policy acquisition costs adjustment			(35)		35	Amortization of deferred policy acquisition costs
Future policy benefits			-		(10)	Policyholder benefits and losses incurred
Total			477		229
Change in retirement plan liabilities adjustment
Prior-service costs			12		12	*
Actuarial gains/(losses)			(36)		(13)	*
Total			(24)		(1)
Total reclassifications for the period		$	462	$	236

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

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+ Details

NONCONTROLLING INTERESTS (Tables)

3 Months Ended

Mar. 31, 2015

NONCONTROLLING INTERESTS

Rollforward of noncontrolling interests

		Redeemable		Non-redeemable
		Noncontrolling		Noncontrolling
(in millions)		Interests		Interests
Three Months Ended March 31, 2015
Balance, beginning of year	$	-	$	374
Contributions from noncontrolling interests		-		1
Distributions to noncontrolling interests		-		(4)
Consolidation (deconsolidation)		-		7
Comprehensive income (loss):
Net income (loss)		-		9
Foreign currency translation adjustments		-		(3)
Total other comprehensive income (loss), net of tax		-		(3)
Total comprehensive income (loss)		-		6
Other		-		4
Balance, end of period	$	-	$	388

Three Months Ended March 31, 2014
Balance, beginning of year	$	30	$	611
Contributions from noncontrolling interests		1		5
Distributions to noncontrolling interests		-		(22)
Consolidation (deconsolidation)		(4)		(34)
Comprehensive income:
Net income		-		3
Total comprehensive income		-		3
Other		-		(3)
Balance, end of period	$	27	$	560

EARNINGS PER SHARE (EPS) (Tables)

3 Months Ended

Mar. 31, 2015

EARNINGS PER SHARE (EPS)

Computation of basic and diluted EPS

Three Months Ended March 31,
(dollars in millions, except per share data)		2015		2014
Numerator for EPS:
Income from continuing operations	$	2,476	$	1,659
Less: Net income from continuing operations attributable to noncontrolling interests		9		3
Income attributable to AIG common shareholders from continuing operations		2,467		1,656
Income (loss) from discontinued operations		1		(47)
Income (loss) attributable to AIG common shareholders from discontinued operations		1		(47)
Net income attributable to AIG common shareholders	$	2,468	$	1,609
Denominator for EPS:
Weighted average shares outstanding — basic		1,365,951,690		1,459,249,393
Dilutive shares		20,311,859		13,261,420
Weighted average shares outstanding — diluted^*		1,386,263,549		1,472,510,813
Income per common share attributable to AIG:
Basic:
Income from continuing operations	$	1.81	$	1.13
Loss from discontinued operations	$	-	$	(0.03)
Net income attributable to AIG	$	1.81	$	1.10
Diluted:
Income from continuing operations	$	1.78	$	1.12
Loss from discontinued operations	$	-	$	(0.03)
Net income attributable to AIG	$	1.78	$	1.09

EMPLOYEE BENEFITS (Tables)

3 Months Ended

Mar. 31, 2015

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, 2015
Components of net periodic benefit cost:
Service cost	$	52	$	11	$	63	$	2	$	1	$	3
Interest cost		55		6		61		2		1		3
Expected return on assets		(72)		(6)		(78)		-		-		-
Amortization of prior service (credit) cost		(8)		(1)		(9)		(3)		-		(3)
Amortization of net (gain) loss		32		3		35		-		-		-
Net periodic benefit cost	$	59	$	13	$	72	$	1	$	2	$	3
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		-		-		-
Curtailment (gain) loss		-		-		-		-		-		-
Net periodic benefit cost	$	33	$	13	$	46	$	1	$	1	$	2

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)

3 Months Ended

Mar. 31, 2015

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, 2015
Assets:
Short-term investments	$	7,639	$	-	$	5,239	$	(917)	$	11,961
Other investments^(a)		12,000		-		332,852		-		344,852
Total investments		19,639		-		338,091		(917)		356,813
Cash		65		8		1,750		-		1,823
Loans to subsidiaries^(b)		30,016		-		559		(30,575)		-
Investment in consolidated subsidiaries^(b)		64,739		36,372		-		(101,111)		-
Other assets, including deferred income taxes		23,297		102		145,331		(6,665)		162,065
Total assets	$	137,756	$	36,482	$	485,731	$	(139,268)	$	520,701

Liabilities:
Insurance liabilities	$	-	$	-	$	269,521	$	-	$	269,521
Long-term debt		22,137		820		9,042		-		31,999
Other liabilities, including intercompany balances^(a)(c)		7,087		59		107,361		(3,693)		110,814
Loans from subsidiaries^(b)		553		-		30,017		(30,570)		-
Total liabilities		29,777		879		415,941		(34,263)		412,334
Total AIG shareholders’ equity		107,979		35,603		69,402		(105,005)		107,979
Non-redeemable noncontrolling interests		-		-		388		-		388
Total equity		107,979		35,603		69,790		(105,005)		108,367
Total liabilities and equity	$	137,756	$	36,482	$	485,731	$	(139,268)	$	520,701


December 31, 2014
Assets:
Short-term investments	$	6,078	$	-	$	6,231	$	(1,066)	$	11,243
Other investments^(a)		11,415		-		333,108		-		344,523
Total investments		17,493		-		339,339		(1,066)		355,766
Cash		26		91		1,641		-		1,758
Loans to subsidiaries^(b)		31,070		-		779		(31,849)		-
Investment in consolidated subsidiaries^(b)		62,811		35,850		-		(98,661)		-
Other assets, including deferred income taxes		23,835		2,305		141,826		(9,909)		158,057
Total assets	$	135,235	$	38,246	$	483,585	$	(141,485)	$	515,581
Liabilities:
Insurance liabilities	$	-	$	-	$	270,615	$	-	$	270,615
Long-term debt		21,190		820		9,207		-		31,217
Other liabilities, including intercompany balances^(a)(c)		6,196		2,314		108,189		(10,222)		106,477
Loans from subsidiaries^(b)		951		-		30,898		(31,849)		-
Total liabilities		28,337		3,134		418,909		(42,071)		408,309
Total AIG shareholders’ equity		106,898		35,112		64,302		(99,414)		106,898
Non-redeemable noncontrolling interests		-		-		374		-		374
Total equity		106,898		35,112		64,676		(99,414)		107,272
Total liabilities and equity	$	135,235	$	38,246	$	483,585	$	(141,485)	$	515,581

(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, 2015
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	2,757	$	773	$	-	$	(3,530)	$	-
Other income		150		-		15,914		(89)		15,975
Total revenues		2,907		773		15,914		(3,619)		15,975
Expenses:
Interest expense		289		16		65		(30)		340
Loss on extinguishment of debt		61		-		-		7		68
Other expenses		246		(5)		11,609		(59)		11,791
Total expenses		596		11		11,674		(82)		12,199
Income (loss) from continuing operations before income tax
expense (benefit)		2,311		762		4,240		(3,537)		3,776
Income tax expense (benefit)		(157)		(43)		1,501		(1)		1,300
Income (loss) from continuing operations		2,468		805		2,739		(3,536)		2,476
Income from discontinued operations, net of income taxes		-		-		1		-		1
Net income (loss)		2,468		805		2,740		(3,536)		2,477
Less:
Total net income attributable to
noncontrolling interests		-		-		9		-		9
Net income (loss) attributable to AIG	$	2,468	$	805	$	2,731	$	(3,536)	$	2,468
Three Months Ended March 31, 2014
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,985	$	730	$	-	$	(2,715)	$	-
Other income		224		-		16,051		(112)		16,163
Total revenues		2,209		730		16,051		(2,827)		16,163
Expenses:
Interest expense		422		29		61		(33)		479
Loss on extinguishment of debt		288		-		-		(50)		238
Other expenses		242		1		12,969		(39)		13,173
Total expenses		952		30		13,030		(122)		13,890
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

* 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, 2015
Net income (loss)	$	2,468	$	805	$	2,740	$	(3,536)	$	2,477
Other comprehensive income (loss)		38		908		(1,061)		152		37
Comprehensive income (loss)		2,506		1,713		1,679		(3,384)		2,514
Total comprehensive income attributable to noncontrolling interests		-		-		6		-		6
Comprehensive income (loss) attributable to AIG	$	2,506	$	1,713	$	1,673	$	(3,384)	$	2,508
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

Condensed Consolidating Statements of Cash Flows

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries^*		Eliminations^*		AIG
Three Months Ended March 31, 2015
Net cash provided by operating activities		1,111		284		2,257		(3,264)		388
Cash flows from investing activities:
Sales of investments		505		-		15,995		(1,271)		15,229
Purchase of investments		(897)		-		(13,483)		1,271		(13,109)
Loans to subsidiaries - net		1,091		-		395		(1,486)		-
Contributions to subsidiaries - net		(70)		-		-		70		-
Net change in restricted cash		-		-		(47)		-		(47)
Net change in short-term investments		(1,035)		-		231		-		(804)
Other, net		-		-		(955)		-		(955)
Net cash (used in) provided by investing activities		(406)		-		2,136		(1,416)		314
Cash flows from financing activities:
Issuance of long-term debt		2,342		-		243		-		2,585
Repayments of long-term debt		(977)		-		(916)		-		(1,893)
Purchase of Common Stock		(1,398)		-		-		-		(1,398)
Intercompany loans - net		(394)		-		(1,092)		1,486		-
Cash dividends paid		(170)		(367)		(2,897)		3,264		(170)
Other, net		(69)		-		411		(70)		272
Net cash (used in) financing activities		(666)		(367)		(4,251)		4,680		(604)
Effect of exchange rate changes on cash		-		-		(33)		-		(33)
Change in cash		39		(83)		109		-		65
Cash at beginning of year		26		91		1,641		-		1,758
Reclassification to assets held for sale		-		-		-		-		-
Cash at end of period	$	65	$	8	$	1,750	$	-	$	1,823

Three Months Ended March 31, 2014
Net cash provided by operating activities		875		1,711		1,586		(3,409)		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		-		53		(348)		-
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		-		1,439		(388)		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)
Intercompany loans - net		(47)		(100)		(201)		348		-
Purchase of common stock		(867)		-		-		-		(867)
Cash dividends paid to shareholders		(182)		(1,653)		(1,756)		3,409		(182)
Other, net		(285)		-		(1,297)		40		(1,542)
Net cash (used in) financing activities		(3,577)		(1,753)		(2,756)		3,797		(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
Change in cash of businesses held for sale		-		-		3		-		3
Cash at end of period	$	60	$	9	$	2,421	$	-	$	2,490

Supplementary Disclosure of Condensed Consolidating Cash Flow Information

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries^*		Eliminations^*		AIG
Cash (paid) received during the 2015 period for:
Interest:
Third party	$	240	$	(27)	$	(520)	$	-	$	(307)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(1)	$	-	$	(139)	$	-	$	(140)
Intercompany		291		-		(291)		-		-
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)		-		-

Supplementary disclosure of non-cash activities

Three Months Ended March 31,
(in millions)		2015		2014
Intercompany non-cash financing and investing activities:
Capital contributions	$	111	$	993
Dividends received in the form of securities		140		-

BASIS OF PRESENTATION (Details) (USD $) In Billions, except Share data in Millions, unless otherwise specified			0 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	May 14, 2014 International Lease Finance Corporation (ILFC)	May 14, 2014 International Lease Finance Corporation (ILFC)	May 13, 2014 Aer Cap	Mar. 31, 2015 Minimum item
Basis of Presentation
Number of Countries in which the entity operates						100
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			$ 7.6
Closing price per share (in dollars per share)					$ 47.01
Number of shares received			97.6

SEGMENT INFORMATION (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015 segment	Mar. 31, 2014
Segment results
Number of reportable segments	2
Total revenues	$ 15,975	$ 16,163
Pre-tax Income (loss) from continuing operations	3,776	2,273
Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense
Segment results
Total revenues	44	76
Pre-tax Income (loss) from continuing operations	44	76
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains
Segment results
Total revenues	0	0
Pre-tax Income (loss) from continuing operations	(54)	7
Other income (expense) - net
Segment results
Total revenues	0	0
Pre-tax Income (loss) from continuing operations	0	0
Loss on extinguishment of debt
Segment results
Total revenues	0	0
Pre-tax Income (loss) from continuing operations	(68)	(238)
Net realized capital gains (losses)
Segment results
Total revenues	1,341	(152)
Pre-tax Income (loss) from continuing operations	1,341	(152)
Income from divested businesses
Segment results
Total revenues	(15)	1,113
Pre-tax Income (loss) from continuing operations	(21)	21
Legal settlements related to legacy crisis matters
Segment results
Total revenues	15	26
Pre-tax Income (loss) from continuing operations	15	26
Legal reserves related to legacy crisis matters
Segment results
Total revenues	0	0
Pre-tax Income (loss) from continuing operations	(8)	(23)
Total AIG Consolidated revenues and pre-tax operating income
Segment results
Total revenues	14,590	15,100
Pre-tax Income (loss) from continuing operations	2,527	2,556
Reportable Segments \| Property Casualty
Segment results
Total revenues	5,956	6,112
Pre-tax Income (loss) from continuing operations	1,170	1,116
Reportable Segments \| Mortgage Guaranty
Segment results
Total revenues	264	248
Pre-tax Income (loss) from continuing operations	145	76
Reportable Segments \| Institutional Markets
Segment results
Total revenues	624	695
Pre-tax Income (loss) from continuing operations	147	229
Reportable Segments \| Retirement
Segment results
Total revenues	2,388	2,485
Pre-tax Income (loss) from continuing operations	800	915
Reportable Segments \| Life
Segment results
Total revenues	1,613	1,610
Pre-tax Income (loss) from continuing operations	171	235
Reportable Segments \| Personal Insurance
Segment results
Total revenues	2,862	3,064
Pre-tax Income (loss) from continuing operations	(26)	18
Operating Segments \| Commercial Insurance
Segment results
Total revenues	6,844	7,055
Pre-tax Income (loss) from continuing operations	1,462	1,421
Operating Segments \| Consumer Insurance
Segment results
Total revenues	6,863	7,159
Pre-tax Income (loss) from continuing operations	945	1,168
Consolidation and Eliminations
Segment results
Total revenues	(127)	(82)
Pre-tax Income (loss) from continuing operations	(18)	35
Corporate and Other
Segment results
Total revenues	1,010	968
Pre-tax Income (loss) from continuing operations	138	(68)
Corporate and Other \| Direct Investment Book
Segment results
Total revenues	178	519
Pre-tax Income (loss) from continuing operations	145	440
Corporate and Other \| Global Capital Markets
Segment results
Total revenues	137	59
Pre-tax Income (loss) from continuing operations	114	29
Corporate and Other \| Run-off Insurance Lines
Segment results
Total revenues	0	0
Pre-tax Income (loss) from continuing operations	0	0
Corporate and Other \| AIG Parent and other
Segment results
Total revenues	968	523
Pre-tax Income (loss) from continuing operations	(120)	(538)
Corporate and Other \| Aircraft Leasing
Segment results
Total revenues	0	0
Pre-tax Income (loss) from continuing operations	0	0
Corporate and Other \| Consolidation and elimination
Segment results
Total revenues	(273)	(133)
Pre-tax Income (loss) from continuing operations	$ (1)	$ 1

HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS (Details) (USD $) Share data in Millions, except Per Share data, unless otherwise specified	3 Months Ended				0 Months Ended	3 Months Ended					3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	May 13, 2014 Aer Cap	Mar. 31, 2015 Aer Cap	Mar. 31, 2015 AIG	Sep. 30, 2012 AIG	Mar. 31, 2015 AIG Aer Cap	Mar. 31, 2015 AIG Revolving Credit Facility	Mar. 31, 2015 Discontinued operations	Mar. 31, 2014 Discontinued operations	May 14, 2014 International Lease Finance Corporation (ILFC)	May 14, 2014 International Lease Finance Corporation (ILFC)
Held-for-Sale Classification and Discontinued Operations
Percentage of common stock agreed to be sold														100.00%
Consideration in cash													$ 7,600,000,000
Number of shares received													97.6
Common stock value	4,766,000,000		4,766,000,000			4,600,000,000
Before Tax gain on sale after settlement of intercompany loans						2,200,000,000					1,000,000	(1,000,000)
After-tax gain on sale on sale after settlement of intercompany loans						1,400,000,000		0
Aggregate commitment under revolving credit facility										1,000,000,000
Percentage of common stock held after closing transaction					46.00%
Closing price per share (in dollars per share)					$ 47.01
Difference between carrying amount and equity of AerCap									1,400,000,000
Difference between carrying amount and equity of AerCap amortized into income based on estimated lives of assets and liabilities									400,000,000
Net cash proceeds to AIG were after the settlement of intercompany loans							2,400,000,000
Assets:
Equity securities	3,766,000,000		4,395,000,000
Short-term investments	11,961,000,000		11,243,000,000
Cash	1,823,000,000	2,490,000,000	1,758,000,000	2,241,000,000
Premiums and other receivables, net of allowance	13,450,000,000		12,031,000,000
Other assets	12,203,000,000		10,549,000,000
Liabilities:
Other liabilities	26,024,000,000		24,168,000,000
Long-term debt	31,999,000,000		31,217,000,000
Income (loss) from divested business or operations:
Gain (loss) on sale						2,200,000,000					1,000,000	(1,000,000)
Income (loss) from discontinued operations, before tax expense (benefit)											1,000,000	(1,000,000)
Income tax expense (benefit)											0	46,000,000
Income (loss) from discontinued operations, net of income tax expense	$ 1,000,000	$ (47,000,000)									$ 1,000,000	$ (47,000,000)

FAIR VALUE MEASUREMENTS (Details - Fair Value Measurements on a Recurring Basis) (USD $) In Millions, unless otherwise specified			3 Months Ended		3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2015 Recurring Basis	Mar. 31, 2014 Recurring Basis	Mar. 31, 2014 Recurring Basis U.S. government and government sponsored entities	Sep. 30, 2012 Recurring Basis U.S. government and government sponsored entities	Sep. 30, 2010 Recurring Basis U.S. government and government sponsored entities	Mar. 31, 2015 Recurring Basis Non-U.S. government	Mar. 31, 2014 Recurring Basis Non-U.S. government	Sep. 30, 2012 Recurring Basis Non-U.S. government	Sep. 30, 2010 Recurring Basis Non-U.S. government	Mar. 31, 2015 Recurring Basis Level 1	Dec. 31, 2014 Recurring Basis Level 1	Mar. 31, 2015 Recurring Basis Level 1 Interest rate contracts	Dec. 31, 2014 Recurring Basis Level 1 Interest rate contracts	Mar. 31, 2015 Recurring Basis Level 1 Foreign exchange contracts	Mar. 31, 2015 Recurring Basis Level 1 Equity contracts	Dec. 31, 2014 Recurring Basis Level 1 Equity contracts	Mar. 31, 2015 Recurring Basis Level 1 Commodity contracts	Mar. 31, 2015 Recurring Basis Level 1 Credit contracts	Mar. 31, 2015 Recurring Basis Level 1 Other contracts	Mar. 31, 2015 Recurring Basis Level 1 Counterparty netting and cash collateral	Mar. 31, 2015 Recurring Basis Level 1 U.S. government and government sponsored entities	Dec. 31, 2014 Recurring Basis Level 1 U.S. government and government sponsored entities	Mar. 31, 2015 Recurring Basis Level 1 Obligations of states, municipalities and political subdivisions	Mar. 31, 2015 Recurring Basis Level 1 Non-U.S. government	Dec. 31, 2014 Recurring Basis Level 1 Non-U.S. government	Mar. 31, 2015 Recurring Basis Level 1 Corporate debt	Mar. 31, 2015 Recurring Basis Level 1 Residential mortgage backed securities (RMBS)	Mar. 31, 2015 Recurring Basis Level 1 Commercial mortgage-backed securities (CMBS)	Mar. 31, 2015 Recurring Basis Level 1 Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Mar. 31, 2015 Recurring Basis Level 1 Common Stock	Dec. 31, 2014 Recurring Basis Level 1 Common Stock	Mar. 31, 2015 Recurring Basis Level 1 Preferred Stock	Dec. 31, 2014 Recurring Basis Level 1 Preferred Stock	Mar. 31, 2015 Recurring Basis Level 1 Mutual Funds	Dec. 31, 2014 Recurring Basis Level 1 Mutual Funds	Mar. 31, 2015 Recurring Basis Level 2	Dec. 31, 2014 Recurring Basis Level 2	Mar. 31, 2015 Recurring Basis Level 2 Interest rate contracts	Dec. 31, 2014 Recurring Basis Level 2 Interest rate contracts	Mar. 31, 2015 Recurring Basis Level 2 Foreign exchange contracts	Dec. 31, 2014 Recurring Basis Level 2 Foreign exchange contracts	Mar. 31, 2015 Recurring Basis Level 2 Equity contracts	Dec. 31, 2014 Recurring Basis Level 2 Equity contracts	Mar. 31, 2015 Recurring Basis Level 2 Commodity contracts	Dec. 31, 2014 Recurring Basis Level 2 Commodity contracts	Mar. 31, 2015 Recurring Basis Level 2 Credit contracts	Mar. 31, 2015 Recurring Basis Level 2 Other contracts	Dec. 31, 2014 Recurring Basis Level 2 Other contracts	Mar. 31, 2015 Recurring Basis Level 2 Counterparty netting and cash collateral	Mar. 31, 2015 Recurring Basis Level 2 U.S. government and government sponsored entities	Dec. 31, 2014 Recurring Basis Level 2 U.S. government and government sponsored entities	Mar. 31, 2015 Recurring Basis Level 2 Obligations of states, municipalities and political subdivisions	Dec. 31, 2014 Recurring Basis Level 2 Obligations of states, municipalities and political subdivisions	Mar. 31, 2015 Recurring Basis Level 2 Non-U.S. government	Dec. 31, 2014 Recurring Basis Level 2 Non-U.S. government	Mar. 31, 2015 Recurring Basis Level 2 Corporate debt	Dec. 31, 2014 Recurring Basis Level 2 Corporate debt	Mar. 31, 2015 Recurring Basis Level 2 Residential mortgage backed securities (RMBS)	Dec. 31, 2014 Recurring Basis Level 2 Residential mortgage backed securities (RMBS)	Mar. 31, 2015 Recurring Basis Level 2 Commercial mortgage-backed securities (CMBS)	Dec. 31, 2014 Recurring Basis Level 2 Commercial mortgage-backed securities (CMBS)	Mar. 31, 2015 Recurring Basis Level 2 Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Dec. 31, 2014 Recurring Basis Level 2 Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Mar. 31, 2015 Recurring Basis Level 2 Common Stock	Dec. 31, 2014 Recurring Basis Level 2 Common Stock	Mar. 31, 2015 Recurring Basis Level 2 Preferred Stock	Dec. 31, 2014 Recurring Basis Level 2 Preferred Stock	Mar. 31, 2015 Recurring Basis Level 2 Mutual Funds	Dec. 31, 2014 Recurring Basis Level 2 Mutual Funds	Mar. 31, 2015 Recurring Basis Level 3	Dec. 31, 2014 Recurring Basis Level 3	Mar. 31, 2015 Recurring Basis Level 3 Interest rate contracts	Dec. 31, 2014 Recurring Basis Level 3 Interest rate contracts	Mar. 31, 2015 Recurring Basis Level 3 Foreign exchange contracts	Dec. 31, 2014 Recurring Basis Level 3 Foreign exchange contracts	Mar. 31, 2015 Recurring Basis Level 3 Equity contracts	Dec. 31, 2014 Recurring Basis Level 3 Equity contracts	Mar. 31, 2015 Recurring Basis Level 3 Commodity contracts	Dec. 31, 2014 Recurring Basis Level 3 Commodity contracts	Mar. 31, 2015 Recurring Basis Level 3 Credit contracts	Dec. 31, 2014 Recurring Basis Level 3 Credit contracts	Mar. 31, 2015 Recurring Basis Level 3 Other contracts	Dec. 31, 2014 Recurring Basis Level 3 Other contracts	Mar. 31, 2015 Recurring Basis Level 3 Counterparty netting and cash collateral	Mar. 31, 2015 Recurring Basis Level 3 U.S. government and government sponsored entities	Mar. 31, 2015 Recurring Basis Level 3 Obligations of states, municipalities and political subdivisions	Dec. 31, 2014 Recurring Basis Level 3 Obligations of states, municipalities and political subdivisions	Mar. 31, 2015 Recurring Basis Level 3 Non-U.S. government	Dec. 31, 2014 Recurring Basis Level 3 Non-U.S. government	Mar. 31, 2015 Recurring Basis Level 3 Corporate debt	Dec. 31, 2014 Recurring Basis Level 3 Corporate debt	Mar. 31, 2015 Recurring Basis Level 3 Residential mortgage backed securities (RMBS)	Dec. 31, 2014 Recurring Basis Level 3 Residential mortgage backed securities (RMBS)	Mar. 31, 2015 Recurring Basis Level 3 Commercial mortgage-backed securities (CMBS)	Dec. 31, 2014 Recurring Basis Level 3 Commercial mortgage-backed securities (CMBS)	Mar. 31, 2015 Recurring Basis Level 3 Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Dec. 31, 2014 Recurring Basis Level 3 Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Mar. 31, 2015 Recurring Basis Level 3 Common Stock	Dec. 31, 2014 Recurring Basis Level 3 Common Stock	Mar. 31, 2015 Recurring Basis Level 3 Preferred Stock	Mar. 31, 2015 Recurring Basis Level 3 Mutual Funds	Mar. 31, 2015 Recurring Basis Counterparty Netting	Dec. 31, 2014 Recurring Basis Counterparty Netting	Mar. 31, 2015 Recurring Basis Counterparty Netting Interest rate contracts	Mar. 31, 2015 Recurring Basis Counterparty Netting Foreign exchange contracts	Mar. 31, 2015 Recurring Basis Counterparty Netting Equity contracts	Mar. 31, 2015 Recurring Basis Counterparty Netting Commodity contracts	Mar. 31, 2015 Recurring Basis Counterparty Netting Credit contracts	Mar. 31, 2015 Recurring Basis Counterparty Netting Other contracts	Mar. 31, 2015 Recurring Basis Counterparty Netting Counterparty netting and cash collateral	Dec. 31, 2014 Recurring Basis Counterparty Netting Counterparty netting and cash collateral	Mar. 31, 2015 Recurring Basis Counterparty Netting U.S. government and government sponsored entities	Mar. 31, 2015 Recurring Basis Counterparty Netting Obligations of states, municipalities and political subdivisions	Mar. 31, 2015 Recurring Basis Counterparty Netting Non-U.S. government	Mar. 31, 2015 Recurring Basis Counterparty Netting Corporate debt	Mar. 31, 2015 Recurring Basis Counterparty Netting Residential mortgage backed securities (RMBS)	Mar. 31, 2015 Recurring Basis Counterparty Netting Commercial mortgage-backed securities (CMBS)	Mar. 31, 2015 Recurring Basis Counterparty Netting Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Mar. 31, 2015 Recurring Basis Counterparty Netting Common Stock	Mar. 31, 2015 Recurring Basis Counterparty Netting Preferred Stock	Mar. 31, 2015 Recurring Basis Counterparty Netting Mutual Funds	Mar. 31, 2015 Recurring Basis Cash Collateral	Dec. 31, 2014 Recurring Basis Cash Collateral	Mar. 31, 2015 Recurring Basis Cash Collateral Interest rate contracts	Mar. 31, 2015 Recurring Basis Cash Collateral Foreign exchange contracts	Mar. 31, 2015 Recurring Basis Cash Collateral Equity contracts	Mar. 31, 2015 Recurring Basis Cash Collateral Commodity contracts	Mar. 31, 2015 Recurring Basis Cash Collateral Credit contracts	Mar. 31, 2015 Recurring Basis Cash Collateral Other contracts	Mar. 31, 2015 Recurring Basis Cash Collateral Counterparty netting and cash collateral	Dec. 31, 2014 Recurring Basis Cash Collateral Counterparty netting and cash collateral	Mar. 31, 2015 Recurring Basis Cash Collateral U.S. government and government sponsored entities	Mar. 31, 2015 Recurring Basis Cash Collateral Obligations of states, municipalities and political subdivisions	Mar. 31, 2015 Recurring Basis Cash Collateral Non-U.S. government	Mar. 31, 2015 Recurring Basis Cash Collateral Corporate debt	Mar. 31, 2015 Recurring Basis Cash Collateral Residential mortgage backed securities (RMBS)	Mar. 31, 2015 Recurring Basis Cash Collateral Commercial mortgage-backed securities (CMBS)	Mar. 31, 2015 Recurring Basis Cash Collateral Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Mar. 31, 2015 Recurring Basis Cash Collateral Common Stock	Mar. 31, 2015 Recurring Basis Cash Collateral Preferred Stock	Mar. 31, 2015 Recurring Basis Cash Collateral Mutual Funds	Mar. 31, 2015 Recurring Basis Total Fair Value	Dec. 31, 2014 Recurring Basis Total Fair Value	Mar. 31, 2015 Recurring Basis Total Fair Value Interest rate contracts	Dec. 31, 2014 Recurring Basis Total Fair Value Interest rate contracts	Mar. 31, 2015 Recurring Basis Total Fair Value Foreign exchange contracts	Dec. 31, 2014 Recurring Basis Total Fair Value Foreign exchange contracts	Mar. 31, 2015 Recurring Basis Total Fair Value Equity contracts	Dec. 31, 2014 Recurring Basis Total Fair Value Equity contracts	Mar. 31, 2015 Recurring Basis Total Fair Value Commodity contracts	Dec. 31, 2014 Recurring Basis Total Fair Value Commodity contracts	Mar. 31, 2015 Recurring Basis Total Fair Value Credit contracts	Dec. 31, 2014 Recurring Basis Total Fair Value Credit contracts	Mar. 31, 2015 Recurring Basis Total Fair Value Other contracts	Dec. 31, 2014 Recurring Basis Total Fair Value Other contracts	Mar. 31, 2015 Recurring Basis Total Fair Value Counterparty netting and cash collateral	Dec. 31, 2014 Recurring Basis Total Fair Value Counterparty netting and cash collateral	Mar. 31, 2015 Recurring Basis Total Fair Value U.S. government and government sponsored entities	Dec. 31, 2014 Recurring Basis Total Fair Value U.S. government and government sponsored entities	Mar. 31, 2015 Recurring Basis Total Fair Value Obligations of states, municipalities and political subdivisions	Dec. 31, 2014 Recurring Basis Total Fair Value Obligations of states, municipalities and political subdivisions	Mar. 31, 2015 Recurring Basis Total Fair Value Non-U.S. government	Dec. 31, 2014 Recurring Basis Total Fair Value Non-U.S. government	Mar. 31, 2015 Recurring Basis Total Fair Value Corporate debt	Dec. 31, 2014 Recurring Basis Total Fair Value Corporate debt	Mar. 31, 2015 Recurring Basis Total Fair Value Residential mortgage backed securities (RMBS)	Dec. 31, 2014 Recurring Basis Total Fair Value Residential mortgage backed securities (RMBS)	Mar. 31, 2015 Recurring Basis Total Fair Value Commercial mortgage-backed securities (CMBS)	Dec. 31, 2014 Recurring Basis Total Fair Value Commercial mortgage-backed securities (CMBS)	Mar. 31, 2015 Recurring Basis Total Fair Value Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Dec. 31, 2014 Recurring Basis Total Fair Value Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Mar. 31, 2015 Recurring Basis Total Fair Value Common Stock	Dec. 31, 2014 Recurring Basis Total Fair Value Common Stock	Mar. 31, 2015 Recurring Basis Total Fair Value Preferred Stock	Dec. 31, 2014 Recurring Basis Total Fair Value Preferred Stock	Mar. 31, 2015 Recurring Basis Total Fair Value Mutual Funds	Dec. 31, 2014 Recurring Basis Total Fair Value Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	$ 260,822	$ 259,859										$ 781	$ 1,064										$ 65	$ 322	$ 0	$ 716	$ 742	$ 0	$ 0	$ 0	$ 0							$ 229,432	$ 229,112													$ 2,709	$ 2,670	$ 25,579	$ 25,500	$ 19,139	$ 20,323	$ 142,315	$ 142,550	$ 20,387	$ 20,715	$ 10,749	$ 10,189	$ 8,554	$ 7,165							$ 30,609	$ 29,683														$ 0	$ 2,256	$ 2,159	$ 34	$ 30	$ 1,827	$ 1,883	$ 17,345	$ 16,805	$ 2,694	$ 2,696	$ 6,453	$ 6,110					$ 0										$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0				$ 0										$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0				$ 260,822	$ 259,859															$ 2,774	$ 2,992	$ 27,835	$ 27,659	$ 19,889	$ 21,095	$ 144,142	$ 144,433	$ 37,732	$ 37,520	$ 13,443	$ 12,885	$ 15,007	$ 13,275
Other bond securities, at fair value (See Note 6)	19,013	19,712										0	130										0	130	0	0		0	0	0	0							9,590	10,659													5,483	5,368	76	122	2	2	551	719	888	989	676	708	1,914	2,751							9,423	8,923														0	0		0		16		1,288	1,105	269	369	7,850	7,449					0										0	0	0	0	0	0	0				0										0	0	0	0	0	0	0				19,013	19,712															5,483	5,498	76	122	2	2	567	719	2,176	2,094	945	1,077	9,764	10,200
Equity securities available for sale	3,766	4,395										3,761	4,389																			3,056	3,626	25	25	680	738	4	5																											3	2	0	0	1	3	1	1																											1	1	0	0	0																	0	0	0	0																	0	0	0	3,766	4,395																													3,060	3,629	25	25	681	741
Other equity securities	1,100	1,049										1,076	1,024																									2	25																																	22																																0																				0																				1,100	1,049
Mortgage and other loans receivable												0																										0																																		6	6																															0																				0																				6	6
Other invested assets	9,196	9,394										2	2																									4,096	3,742																																	5,098	5,650																															0																				0																				9,196	9,394
Derivative assets, at fair value	1,621	1,604										110	100	1	2	0	109	98	0	0	0	0																5,784	4,626	4,806	3,729	971	839	7	58	0		0	0	0	0																					115	99	14	12	0	1	68	51	0	0	4	4	29	31	0																		(2,476)	(2,102)	0	0	0	0	0	0	(2,476)	(2,102)											(1,912)	(1,119)	0	0	0	0	0	0	(1,912)	(1,119)											1,621	1,604	4,821	3,743	971	840	184	207	0	0	4	4	29	31	(4,388)	(3,221)
Short-term investments, portion measured at fair value	1,208	1,684										566	584																									642	1,100																																	0																																0																				0																				1,208	1,684
Separate account assets, at fair value	82,139	80,036										76,673	73,939																									5,466	6,097																																	0																																0																				0																				82,139	80,036
Other assets												0																										0	0																																	0																																0																				0																				0	0
Fair value assets measured on recurring basis, total												82,969	81,232																									255,016	255,366																																	45,274	44,362																															(2,476)	(2,102)																			(1,912)	(1,119)																			378,871	377,739
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	1,882	1,561										0																										47	52																																	1,835	1,509																															0																				0																				1,882	1,561
Other policyholder funds	4,415	4,669										0																										8	8																																	0																																																																								8	8
Derivative liabilities, at fair value	2,651	2,273										0		0		0	0		0	0	0	0																5,611	4,633	4,073	3,047	1,445	1,482	87	98	6	6	0	0	0	0																					976	1,171	83	86	8	9	2	4	0		795	982	88	90	0																		(2,476)	(2,102)	0	0	0	0	0	0	(2,476)	(2,102)											(1,460)	(1,429)	0	0	0	0	0	0	(1,460)	(1,429)											2,651	2,273	4,156	3,133	1,453	1,491	89	102	6	6	795	982	88	90	(3,936)	(3,531)
Long-term debt, portion measured at fair value	4,844	5,466										0																										4,658	5,253																																	186	213																															0																				0																				4,844	5,466
Other liabilities	178	350										0	34																									178	316																																	0																																0																				0																				178	350
Fair value liabilities measured on recurring basis, total												0	34																									10,502	10,262																																	2,997	2,893																															(2,476)	(2,102)																			(1,460)	(1,429)																			9,563	9,658
Assets transferred from Level 1 to Level 2			115		103	0	263	72	62	0	0
Assets transferred from Level 2 to Level 1			$ 0	$ 0

FAIR VALUE MEASUREMENTS (Details - Changes in Level 3 Recurring Fair Value Measurements) (USD $) In Millions, unless otherwise specified	3 Months Ended																																																																		3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014 Trading Revenue	Mar. 31, 2015 Policyholder contract deposits	Mar. 31, 2014 Policyholder contract deposits	Mar. 31, 2015 Policyholder contract deposits Trading Revenue	Mar. 31, 2014 Policyholder contract deposits Trading Revenue	Mar. 31, 2015 Interest rate contracts	Mar. 31, 2014 Interest rate contracts	Mar. 31, 2015 Interest rate contracts Trading Revenue	Mar. 31, 2014 Interest rate contracts Trading Revenue	Mar. 31, 2015 Foreign exchange contracts	Mar. 31, 2014 Foreign exchange contracts	Mar. 31, 2015 Foreign exchange contracts Trading Revenue	Mar. 31, 2014 Foreign exchange contracts Trading Revenue	Mar. 31, 2015 Equity contracts	Mar. 31, 2014 Equity contracts	Mar. 31, 2015 Equity contracts Trading Revenue	Mar. 31, 2014 Equity contracts Trading Revenue	Mar. 31, 2015 Commodity contracts	Mar. 31, 2014 Commodity contracts	Mar. 31, 2015 Commodity contracts Trading Revenue	Mar. 31, 2014 Commodity contracts Trading Revenue	Mar. 31, 2015 Credit contracts	Mar. 31, 2014 Credit contracts	Mar. 31, 2015 Credit contracts Trading Revenue	Mar. 31, 2014 Credit contracts Trading Revenue	Mar. 31, 2015 Other contracts	Mar. 31, 2014 Other contracts	Mar. 31, 2015 Other contracts Trading Revenue	Mar. 31, 2014 Other contracts Trading Revenue	Mar. 31, 2015 Derivative liabilities, net	Mar. 31, 2014 Derivative liabilities, net	Mar. 31, 2015 Derivative liabilities, net Trading Revenue	Mar. 31, 2014 Derivative liabilities, net Trading Revenue	Mar. 31, 2015 Long-term debt	Mar. 31, 2014 Long-term debt	Mar. 31, 2015 Long-term debt Trading Revenue	Mar. 31, 2014 Long-term debt Trading Revenue	Mar. 31, 2015 Liabilities	Mar. 31, 2014 Liabilities	Mar. 31, 2015 Liabilities Trading Revenue	Mar. 31, 2014 Liabilities Trading Revenue	Mar. 31, 2015 Bonds available for sale	Mar. 31, 2014 Bonds available for sale	Mar. 31, 2015 Bonds available for sale Obligations of states, municipalities and political subdivisions	Mar. 31, 2014 Bonds available for sale Obligations of states, municipalities and political subdivisions	Mar. 31, 2015 Bonds available for sale Non-U.S. government	Mar. 31, 2014 Bonds available for sale Non-U.S. government	Mar. 31, 2015 Bonds available for sale Corporate debt	Mar. 31, 2014 Bonds available for sale Corporate debt	Mar. 31, 2015 Bonds available for sale Residential mortgage backed securities (RMBS)	Mar. 31, 2014 Bonds available for sale Residential mortgage backed securities (RMBS)	Mar. 31, 2015 Bonds available for sale Commercial mortgage-backed securities (CMBS)	Mar. 31, 2014 Bonds available for sale Commercial mortgage-backed securities (CMBS)	Mar. 31, 2015 Bonds available for sale Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Mar. 31, 2014 Bonds available for sale Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Mar. 31, 2015 Other Bond securities	Mar. 31, 2014 Other Bond securities	Mar. 31, 2014 Other Bond securities Trading Revenue	Mar. 31, 2015 Other Bond securities Obligations of states, municipalities and political subdivisions	Mar. 31, 2014 Other Bond securities Obligations of states, municipalities and political subdivisions	Mar. 31, 2015 Other Bond securities Non-U.S. government	Mar. 31, 2014 Other Bond securities Non-U.S. government	Mar. 31, 2015 Other Bond securities Corporate debt	Mar. 31, 2014 Other Bond securities Corporate debt	Mar. 31, 2015 Other Bond securities Residential mortgage backed securities (RMBS)	Mar. 31, 2014 Other Bond securities Residential mortgage backed securities (RMBS)	Mar. 31, 2014 Other Bond securities Residential mortgage backed securities (RMBS) Trading Revenue	Mar. 31, 2015 Other Bond securities Commercial mortgage-backed securities (CMBS)	Mar. 31, 2014 Other Bond securities Commercial mortgage-backed securities (CMBS)	Mar. 31, 2014 Other Bond securities Commercial mortgage-backed securities (CMBS) Trading Revenue	Mar. 31, 2015 Other Bond securities Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Mar. 31, 2014 Other Bond securities Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)	Mar. 31, 2014 Other Bond securities Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS) Trading Revenue	Mar. 31, 2015 Equity securities available for sale	Mar. 31, 2014 Equity securities available for sale	Mar. 31, 2015 Equity securities available for sale Common Stock	Mar. 31, 2014 Equity securities available for sale Common Stock	Mar. 31, 2015 Other invested assets	Mar. 31, 2014 Other invested assets	Mar. 31, 2015 Mortgage and other loans receivable	Dec. 31, 2014 Mortgage and other loans receivable	Mar. 31, 2015 Equity securities trading
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	$ 44,263	$ 46,547																																										$ 29,683	$ 30,001	$ 2,159	$ 1,080	$ 30	$ 16	$ 1,883	$ 1,255	$ 16,805	$ 14,941	$ 2,696	$ 5,735	$ 6,110	$ 6,974	$ 8,923	$ 10,615								$ 1,105	$ 937		$ 369	$ 844		$ 7,449	$ 8,834		$ 1	$ 1	$ 1	$ 1	$ 5,650	$ 5,930	$ 6	$ 6
Net Realized and Unrealized Gains (Losses) Included in Income	875	740																																										316	281	1	0	0	0	0	(3)	258	244	24	6	33	34	113	380								(19)	28		0	17		132	335		0	0	0	0	446	79
Other Comprehensive Income (Loss)	(482)	436																																										29	382	45	117	0	(1)	17	20	(72)	133	10	111	29	2	0	0								0	0		0	0		0	0		0	0	0	0	(511)	54
Purchases, Sales, Issues and Settlements, Net	166	978																																										794	1,367	65	846	4	2	(61)	4	354	557	30	(50)	402	8	(134)	(438)		0	0	0	0	0	0	204	104		(100)	(91)		(238)	(451)		0	0	0	0	(494)	49
Gross Transfers in, assets	699	799																																										44	714	0	0	0	0	44	648	0	0	0	0	0	66	626	0						16		29	0		0	0		581	0		0	0	0	0	7	85			22
Gross Transfers out, assets	(362)	(1,184)																																										(257)	(756)	(14)	(1)	0	0	(56)	(109)	0	(111)	(66)	(61)	(121)	(474)	(105)	(220)								(31)	0		0	0		(74)	(220)		0	(1)	0	(1)	0	(207)
Balance End of Period	45,159	48,316																																										30,609	31,989	2,256	2,042	34	17	1,827	1,815	17,345	15,764	2,694	5,741	6,453	6,610	9,423	10,337						16		1,288	1,069		269	770		7,850	8,498		1	0	1	0	5,098	5,990	6	6	22
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(72)		196																																																							(69)		196							(31)	16	16	2	14	14	(40)	166	166									(3)
Balance at the Beginning of the Period				(1,509)	(312)			(74)	(100)			(8)	0			47	49			0	1			(978)	(1,280)			(59)	(109)			(1,072)	(1,439)			(213)	(370)			(2,794)	(2,121)
Net Realized and Unrealized Gains (Losses) Included in Income				(275)	(474)			(4)	(6)			1	0			8	(3)			0	0			147	80			14	16			166	87			15	(3)			(94)	(390)
Other Comprehensive Income (Loss)				0	(8)			0	0			0	0			0	0			0	0			0	0			2	(1)			2	(1)			0	0			2	(9)
Purchases, Sales, Issues and Settlements-Net				(51)	29			9	8			(1)	0			11	(5)			0	0			40	15			(16)	(15)			43	3			12	19			4	51
Gross Transfers in, liabilities				0	0			0	0			0	0			0	47			0	0			0	0			0	0			0	47			0	(70)			0	(23)
Gross Transfers out, liabilities				0	0			0	0			0	0			0	0			0	0			0	0			0	0			0	0			0	(21)			0	(21)
Balance at the End of the Period				(1,835)	(765)			(69)	(98)			(8)	0			66	88			0	1			(791)	(1,185)			(59)	(109)			(861)	(1,303)			(186)	(403)			(2,882)	(2,471)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities						$ (50)	$ (82)			$ (4)	$ (1)			$ 1	$ 0			$ 5	$ (6)			$ 0	$ 0			$ 28	$ 94			$ 14	$ 12			$ 44	$ 99			$ 19	$ 7			$ 13	$ 24

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issues and settlements) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2012	Sep. 30, 2010
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, Sales, Issues and Settlements, Net, assets	$ 166	$ 978
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	18	23	0	43
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.	3	23	0	18
Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	15	1
Sales, liabilities	(73)	(12)
Settlements, liabilities	62	62
Purchases, Sales, Issues and Settlements, Net, liabilities	4	51
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	0	0
Sales, liabilities	(73)	(12)
Settlements, liabilities	22	41
Purchases, Sales, Issues and Settlements, Net, liabilities	(51)	29
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	15	1
Sales, liabilities	0	0
Settlements, liabilities	28	2
Purchases, Sales, Issues and Settlements, Net, liabilities	43	3
Long-term debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	0	0
Sales, liabilities	0	0
Settlements, liabilities	12	19
Purchases, Sales, Issues and Settlements, Net, liabilities	12	19
Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	2,430	2,886
Sales, assets	(812)	(102)
Settlements, assets	(1,452)	(1,806)
Purchases, Sales, Issues and Settlements, Net, assets	166	978
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	1,731	2,428
Sales, assets	(144)	(84)
Settlements, assets	(793)	(977)
Purchases, Sales, Issues and Settlements, Net, assets	794	1,367
Bonds available for sale \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	107	888
Sales, assets	(22)	(5)
Settlements, assets	(20)	(37)
Purchases, Sales, Issues and Settlements, Net, assets	65	846
Bonds available for sale \| Non-U.S. government
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	6	2
Sales, assets	0	0
Settlements, assets	(2)	0
Purchases, Sales, Issues and Settlements, Net, assets	4	2
Bonds available for sale \| Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	6	56
Sales, assets	(50)	(7)
Settlements, assets	(17)	(45)
Purchases, Sales, Issues and Settlements, Net, assets	(61)	4
Bonds available for sale \| Residential mortgage backed securities (RMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	961	1,087
Sales, assets	(22)	(15)
Settlements, assets	(585)	(515)
Purchases, Sales, Issues and Settlements, Net, assets	354	557
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	72	65
Sales, assets	(27)	(57)
Settlements, assets	(15)	(58)
Purchases, Sales, Issues and Settlements, Net, assets	30	(50)
Bonds available for sale \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	579	330
Sales, assets	23	0
Settlements, assets	(154)	(322)
Purchases, Sales, Issues and Settlements, Net, assets	402	8
Other Bond securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	459	162
Sales, assets	(82)	(18)
Settlements, assets	(511)	(582)
Purchases, Sales, Issues and Settlements, Net, assets	(134)	(438)
Other Bond securities \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0
Sales, assets	0	0
Settlements, assets	0	0
Purchases, Sales, Issues and Settlements, Net, assets	0	0
Other Bond securities \| Non-U.S. government
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0
Sales, assets	0	0
Settlements, assets	0	0
Purchases, Sales, Issues and Settlements, Net, assets	0	0
Other Bond securities \| Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0
Sales, assets	0	0
Settlements, assets	0	0
Purchases, Sales, Issues and Settlements, Net, assets	0	0
Other Bond securities \| Residential mortgage backed securities (RMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	245	141
Sales, assets	(6)	(5)
Settlements, assets	(35)	(32)
Purchases, Sales, Issues and Settlements, Net, assets	204	104
Other Bond securities \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0
Sales, assets	(36)	(6)
Settlements, assets	(64)	(85)
Purchases, Sales, Issues and Settlements, Net, assets	(100)	(91)
Other Bond securities \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	214	21
Sales, assets	(40)	(7)
Settlements, assets	(412)	(465)
Purchases, Sales, Issues and Settlements, Net, assets	(238)	(451)
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0
Sales, assets	0	0
Settlements, assets	0	0
Purchases, Sales, Issues and Settlements, Net, assets	0	0
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	240	296
Sales, assets	(586)	0
Settlements, assets	(148)	(247)
Purchases, Sales, Issues and Settlements, Net, assets	$ (494)	$ 49

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, 2015	Dec. 31, 2014
Corporate debt
Fair value inputs, assets, quantitative information
Fair Value	$ 1,085
Corporate debt \| Discounted cash flow
Fair value inputs, assets, quantitative information
Fair Value		1,145
Corporate debt \| Discounted cash flow \| Minimum
Fair value inputs, assets, quantitative information
Yield	3.77%	3.46%
Corporate debt \| Discounted cash flow \| Maximum
Fair value inputs, assets, quantitative information
Yield	8.21%	8.75%
Corporate debt \| Discounted cash flow \| Weighted-average
Fair value inputs, assets, quantitative information
Yield	5.99%	6.10%
Residential mortgage backed securities
Fair value inputs, assets, quantitative information
Fair Value	18,003
Residential mortgage backed securities \| Discounted cash flow
Fair value inputs, assets, quantitative information
Fair Value		17,353
Residential mortgage backed securities \| Discounted cash flow \| Minimum
Fair value inputs, assets, quantitative information
Yield	2.79%	2.67%
Constant prepayment rate	0.76%	0.59%
Loss severity	46.57%	46.04%
Constant default rate	3.56%	3.67%
Residential mortgage backed securities \| Discounted cash flow \| Maximum
Fair value inputs, assets, quantitative information
Yield	6.29%	6.64%
Constant prepayment rate	9.06%	9.35%
Loss severity	80.00%	79.56%
Constant default rate	9.28%	9.96%
Residential mortgage backed securities \| Discounted cash flow \| Weighted-average
Fair value inputs, assets, quantitative information
Yield	4.54%	4.65%
Constant prepayment rate	4.91%	4.97%
Loss severity	63.29%	62.80%
Constant default rate	6.42%	6.82%
Certain CDO/ABS
Fair value inputs, assets, quantitative information
Fair Value	5,259
Certain CDO/ABS \| Discounted cash flow
Fair value inputs, assets, quantitative information
Fair Value		5,282
Certain CDO/ABS \| Discounted cash flow \| Minimum
Fair value inputs, assets, quantitative information
Yield	4.60%	4.70%
Constant prepayment rate	6.30%	6.40%
Loss severity	43.90%	42.90%
Constant default rate	2.50%	2.50%
Certain CDO/ABS \| Discounted cash flow \| Maximum
Fair value inputs, assets, quantitative information
Yield	8.70%	9.70%
Constant prepayment rate	12.00%	12.80%
Loss severity	58.50%	60.30%
Constant default rate	14.30%	14.70%
Certain CDO/ABS \| Discounted cash flow \| Weighted-average
Fair value inputs, assets, quantitative information
Yield	6.90%	7.10%
Constant prepayment rate	8.70%	9.20%
Loss severity	51.40%	51.90%
Constant default rate	7.70%	7.80%
Commercial mortgage backed securities
Fair value inputs, assets, quantitative information
Fair Value	2,583
Commercial mortgage backed securities \| Discounted cash flow
Fair value inputs, assets, quantitative information
Fair Value		2,687
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	17.56%	17.29%
Commercial mortgage backed securities \| Discounted cash flow \| Weighted-average
Fair value inputs, assets, quantitative information
Yield	5.88%	6.06%
CDO/ABS - Direct Investment book
Fair value inputs, assets, quantitative information
Fair Value	310
CDO/ABS - Direct Investment book \| Binomial Expansion Technique
Fair value inputs, assets, quantitative information
Fair Value		279
CDO/ABS - Direct Investment book \| Binomial Expansion Technique \| Minimum
Fair value inputs, assets, quantitative information
Recovery rates	5.00%	7.00%
Diversity score	3	5
Weighted average life	0 years 3 months 7 days	0 years 3 months
CDO/ABS - Direct Investment book \| Binomial Expansion Technique \| Maximum
Fair value inputs, assets, quantitative information
Recovery rates	33.00%	36.00%
Diversity score	26	27
Weighted average life	10 years 4 months 24 days	10 years 5 months 26 days
CDO/ABS - Direct Investment book \| Binomial Expansion Technique \| Weighted-average
Fair value inputs, assets, quantitative information
Recovery rates	21.00%	21.00%
Diversity score	12	12
Weighted average life	4 years 11 months 19 days	3 years 11 months 5 days
Obligations of states, municipalities and political subdivisions
Fair value inputs, assets, quantitative information
Fair Value	1,263
Obligations of states, municipalities and political subdivisions \| Discounted cash flow
Fair value inputs, assets, quantitative information
Fair Value		$ 1,178
Obligations of states, municipalities and political subdivisions \| Discounted cash flow \| Minimum
Fair value inputs, assets, quantitative information
Yield	3.78%	3.90%
Obligations of states, municipalities and political subdivisions \| Discounted cash flow \| Maximum
Fair value inputs, assets, quantitative information
Yield	4.46%	4.62%
Obligations of states, municipalities and political subdivisions \| Discounted cash flow \| Weighted-average
Fair value inputs, assets, quantitative information
Yield	4.12%	4.26%

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, 2015	Dec. 31, 2014
Policyholder contract deposits
Significant unobservable inputs used for recurring fair value measurements
Fair value	$ 0
GMWB
Significant unobservable inputs used for recurring fair value measurements
Fair value	1,121	890
GMWB \| 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	0.10%	0.10%
Utilization rates	0.50%	0.50%
GMWB \| 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	35.00%	35.00%
Utilization rates	30.00%	30.00%
Index Annuities
Significant unobservable inputs used for recurring fair value measurements
Fair value	361	294
Index Annuities \| Discounted cash flow \| Minimum
Significant unobservable inputs used for recurring fair value measurements
Mortality rates	0.02%	0.02%
Lapse rates	0.75%	0.75%
Index Annuities \| Discounted cash flow \| Maximum
Significant unobservable inputs used for recurring fair value measurements
Mortality rates	44.06%	44.06%
Lapse rates	66.00%	66.00%
Index Life
Significant unobservable inputs used for recurring fair value measurements
Fair value	291	259
Index Life \| Discounted cash flow \| Minimum
Significant unobservable inputs used for recurring fair value measurements
Equity implied volatility	10.00%	10.00%
Base lapse rates	2.00%	2.00%
Mortality rates	0.00%	0.00%
Index Life \| Discounted cash flow \| Maximum
Significant unobservable inputs used for recurring fair value measurements
Equity implied volatility	25.00%	25.00%
Base lapse rates	19.00%	19.00%
Mortality rates	20.00%	20.00%
Derivative Liabilities - Credit contracts
Significant unobservable inputs used for recurring fair value measurements
Fair value	$ 554	$ 791
Derivative Liabilities - Credit contracts \| BET \| Minimum
Significant unobservable inputs used for recurring fair value measurements
Recovery rates	8.00%	5.00%
Diversity score	9	0.08
Weighted average life	3 years 1 month 2 days	2 years 8 months 1 day
Derivative Liabilities - Credit contracts \| BET \| Maximum
Significant unobservable inputs used for recurring fair value measurements
Recovery rates	23.00%	23.00%
Diversity score	22	0.25
Weighted average life	10 years 4 months 24 days	10 years 5 months 26 days
Derivative Liabilities - Credit contracts \| BET \| Weighted-average
Significant unobservable inputs used for recurring fair value measurements
Recovery rates	11.00%	13.00%
Diversity score	14	0.13
Weighted average life	7 years 1 month 13 days	4 years 7 months 24 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, 2015	Dec. 31, 2014
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	$ 8,746	$ 8,359
Unfunded Commitments	972	986
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	3,035	3,160
Unfunded Commitments	948	980
Average original expected lives	10 years
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	85.00%
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	5.00%
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	10.00%
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	2,123	2,275
Unfunded Commitments	461	450
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	370	384
Unfunded Commitments	205	227
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	121
Unfunded Commitments	30	26
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	161	164
Unfunded Commitments	43	43
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	248	216
Unfunded Commitments	209	234
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	5,711	5,199
Unfunded Commitments	24	6
Hedge fund investments redeemable monthly (as a percent)	14.00%
Hedge fund investments redeemable quarterly (as a percent)	48.00%
Hedge fund investments redeemable semi-annually (as a percent)	15.00%
Hedge fund investments redeemable annually (as a percent)	23.00%
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	44.00%
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	1,182	1,109
Unfunded Commitments	0	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	2,750	2,428
Unfunded Commitments	1	1
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	531	498
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	736	731
Unfunded Commitments	23	5
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	339	308
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	173	125
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, 2015	Mar. 31, 2014	Sep. 30, 2012	Sep. 30, 2010
Fair Value, Option, Quantitative Disclosures
Fair value option credit risk gains (losses)	$ 6	$ 11	$ 0	$ (22)
Fair Value Option
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	209	745
Fair Value Option \| Other long-term debt
Fair Value, Option, Quantitative Disclosures
Fair value option credit risk gains (losses)	(76)	(74)
Fair Value Option \| Other liabilities
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	(3)	(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	0
Fair Value Option \| Bond and equity securities
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	141	666
Fair Value Option \| Alternative investments
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	145	154
Fair Value Option \| Other, Including Short term investments
Fair Value, Option, Quantitative Disclosures
Fair Value Options Changes in Fair Value Gain (loss)	$ 2	$ 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, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Mortgage and other loans receivable, Fair Value	$ 6	$ 6
Long-term debt, Fair Value	4,844	5,466
Fair Value Option
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Mortgage and other loans receivable, Fair Value	6	6
Mortgage and other loans receivable, Outstanding Principal Amount	4	4
Mortgage and other loans receivable, Difference	2	2
Long-term debt, Fair Value	4,844	5,466
Long-term debt, Outstanding Principal Amount	3,541	4,101
Long-term debt, Difference	$ 1,303	$ 1,365

- 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, 2015	Mar. 31, 2014	Mar. 31, 2015 Other Investments	Mar. 31, 2014 Other Investments	Mar. 31, 2015 Investments In Life Settlements	Mar. 31, 2014 Investments In Life Settlements	Mar. 31, 2015 Other assets	Mar. 31, 2014 Other assets	Dec. 31, 2014 Level 2	Dec. 31, 2014 Level 2 Other assets	Mar. 31, 2015 Level 3	Dec. 31, 2014 Level 3	Mar. 31, 2015 Level 3 Other Investments	Dec. 31, 2014 Level 3 Other Investments	Mar. 31, 2015 Level 3 Investments In Life Settlements	Dec. 31, 2014 Level 3 Investments In Life Settlements	Mar. 31, 2015 Level 3 Other assets	Dec. 31, 2014 Level 3 Other assets	Mar. 31, 2015 Total Fair Value	Dec. 31, 2014 Total Fair Value	Mar. 31, 2015 Total Fair Value Other Investments	Dec. 31, 2014 Total Fair Value Other Investments	Mar. 31, 2015 Total Fair Value Investments In Life Settlements	Dec. 31, 2014 Total Fair Value Investments In Life Settlements	Mar. 31, 2015 Total Fair Value Other assets	Dec. 31, 2014 Total Fair Value Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis									$ 0	$ 0	$ 1,375	$ 1,328	$ 1,058	$ 790	$ 308	$ 537	$ 9	$ 1	$ 1,375	$ 1,328	$ 1,058	$ 790	$ 308	$ 537	$ 9	$ 1
Impairment Charges	$ 99	$ 92	$ 25	$ 49	$ 70	$ 42	$ 4	$ 1

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, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Assets:
Mortgage and other loans receivable	$ 25,313	$ 24,990
Short-term investments	11,961	11,243
Cash	1,823	1,758	2,490	2,241
Liabilities:
Other liabilities	26,024	24,168
Total Fair Value
Assets:
Mortgage and other loans receivable	27,154	26,606
Other invested assets	3,461	3,475
Short-term investments	10,753	9,559
Cash	1,823	1,758
Liabilities:
Policyholder contract deposits associated with investment-type contracts	120,993	119,512
Other liabilities	1,300	1,120
Long-term debt	29,735	27,681
Level 1
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	1,823	1,758
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	424	449
Other invested assets	549	593
Short-term investments	10,753	9,559
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	253	244
Other liabilities	1,300	1,120
Long-term debt	25,928	24,749
Level 3
Assets:
Mortgage and other loans receivable	26,730	26,157
Other invested assets	2,912	2,882
Short-term investments	0	0
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	120,740	119,268
Other liabilities	0	0
Long-term debt	3,807	2,932
Carrying Value
Assets:
Mortgage and other loans receivable	25,307	24,984
Other invested assets	4,324	4,352
Short-term investments	10,753	9,559
Cash	1,823	1,758
Liabilities:
Policyholder contract deposits associated with investment-type contracts	106,646	106,395
Other liabilities	1,300	1,120
Long-term debt	$ 27,155	$ 25,751

- 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, 2015	Dec. 31, 2014
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	$ 243,797,000,000	$ 245,237,000,000
Available for sale securities, Gross Unrealized Gains	22,317,000,000	20,890,000,000
Available for sale securities, Gross Unrealized Losses	(1,526,000,000)	(1,873,000,000)
Available for sale securities, Fair Value	264,588,000,000	264,254,000,000
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	2,017,000,000	2,080,000,000
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	242,114,000,000	243,307,000,000
Available for sale securities, Gross Unrealized Gains	20,179,000,000	18,371,000,000
Available for sale securities, Gross Unrealized Losses	(1,471,000,000)	(1,819,000,000)
Available for sale securities, Fair Value	260,822,000,000	259,859,000,000
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	36,100,000,000	35,100,000,000
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	2,017,000,000	2,080,000,000
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	2,557,000,000	2,806,000,000
Available for sale securities, Gross Unrealized Gains	222,000,000	204,000,000
Available for sale securities, Gross Unrealized Losses	(5,000,000)	(18,000,000)
Available for sale securities, Fair Value	2,774,000,000	2,992,000,000
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	26,088,000,000	25,979,000,000
Available for sale securities, Gross Unrealized Gains	1,783,000,000	1,729,000,000
Available for sale securities, Gross Unrealized Losses	(36,000,000)	(49,000,000)
Available for sale securities, Fair Value	27,835,000,000	27,659,000,000
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	0	(13,000,000)
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	18,857,000,000	20,280,000,000
Available for sale securities, Gross Unrealized Gains	1,149,000,000	966,000,000
Available for sale securities, Gross Unrealized Losses	(117,000,000)	(151,000,000)
Available for sale securities, Fair Value	19,889,000,000	21,095,000,000
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	133,066,000,000	134,961,000,000
Available for sale securities, Gross Unrealized Gains	11,923,000,000	10,594,000,000
Available for sale securities, Gross Unrealized Losses	(847,000,000)	(1,122,000,000)
Available for sale securities, Fair Value	144,142,000,000	144,433,000,000
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	57,000,000	64,000,000
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	61,546,000,000	59,281,000,000
Available for sale securities, Gross Unrealized Gains	5,102,000,000	4,878,000,000
Available for sale securities, Gross Unrealized Losses	(466,000,000)	(479,000,000)
Available for sale securities, Fair Value	66,182,000,000	63,680,000,000
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	1,960,000,000	2,029,000,000
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	34,551,000,000	34,377,000,000
Available for sale securities, Gross Unrealized Gains	3,466,000,000	3,435,000,000
Available for sale securities, Gross Unrealized Losses	(285,000,000)	(292,000,000)
Available for sale securities, Fair Value	37,732,000,000	37,520,000,000
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	1,698,000,000	1,767,000,000
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	12,503,000,000	12,129,000,000
Available for sale securities, Gross Unrealized Gains	971,000,000	815,000,000
Available for sale securities, Gross Unrealized Losses	(31,000,000)	(59,000,000)
Available for sale securities, Fair Value	13,443,000,000	12,885,000,000
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	224,000,000	215,000,000
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	14,492,000,000	12,775,000,000
Available for sale securities, Gross Unrealized Gains	665,000,000	628,000,000
Available for sale securities, Gross Unrealized Losses	(150,000,000)	(128,000,000)
Available for sale securities, Fair Value	15,007,000,000	13,275,000,000
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	38,000,000	47,000,000
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	1,683,000,000	1,930,000,000
Available for sale securities, Gross Unrealized Gains	2,138,000,000	2,519,000,000
Available for sale securities, Gross Unrealized Losses	(55,000,000)	(54,000,000)
Available for sale securities, Fair Value	3,766,000,000	4,395,000,000
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	1,000,000,000	1,185,000,000
Available for sale securities, Gross Unrealized Gains	2,071,000,000	2,461,000,000
Available for sale securities, Gross Unrealized Losses	(11,000,000)	(17,000,000)
Available for sale securities, Fair Value	3,060,000,000	3,629,000,000
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	21,000,000	21,000,000
Available for sale securities, Gross Unrealized Gains	4,000,000	4,000,000
Available for sale securities, Gross Unrealized Losses	0	0
Available for sale securities, Fair Value	25,000,000	25,000,000
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	662,000,000	724,000,000
Available for sale securities, Gross Unrealized Gains	63,000,000	54,000,000
Available for sale securities, Gross Unrealized Losses	(44,000,000)	(37,000,000)
Available for sale securities, Fair Value	$ 681,000,000	$ 741,000,000

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, 2015	Dec. 31, 2014
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 24,422	$ 23,825
Gross Unrealized Losses, Less than 12 Months	750	719
Fair Value, 12 Months or More	11,416	22,344
Gross Unrealized Losses, 12 Months or More	776	1,154
Fair Value, Total	35,838	46,169
Gross Unrealized Losses, Total	1,526	1,873
Bonds available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	24,089	23,457
Gross Unrealized Losses, Less than 12 Months	695	666
Fair Value, 12 Months or More	11,416	22,278
Gross Unrealized Losses, 12 Months or More	776	1,153
Fair Value, Total	35,505	45,735
Gross Unrealized Losses, Total	1,471	1,819
Number of securities in an unrealized loss position	4,983
Number of individual securities in continuous unrealized loss position for longer than twelve months	1,351
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	120	526
Gross Unrealized Losses, Less than 12 Months	1	5
Fair Value, 12 Months or More	141	281
Gross Unrealized Losses, 12 Months or More	4	13
Fair Value, Total	261	807
Gross Unrealized Losses, Total	5	18
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	1,130	495
Gross Unrealized Losses, Less than 12 Months	14	9
Fair Value, 12 Months or More	460	794
Gross Unrealized Losses, 12 Months or More	22	40
Fair Value, Total	1,590	1,289
Gross Unrealized Losses, Total	36	49
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	1,605	1,606
Gross Unrealized Losses, Less than 12 Months	47	42
Fair Value, 12 Months or More	884	1,690
Gross Unrealized Losses, 12 Months or More	70	109
Fair Value, Total	2,489	3,296
Gross Unrealized Losses, Total	117	151
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	12,048	12,132
Gross Unrealized Losses, Less than 12 Months	449	450
Fair Value, 12 Months or More	4,563	11,570
Gross Unrealized Losses, 12 Months or More	398	672
Fair Value, Total	16,611	23,702
Gross Unrealized Losses, Total	847	1,122
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	5,540	4,621
Gross Unrealized Losses, Less than 12 Months	125	109
Fair Value, 12 Months or More	2,953	3,996
Gross Unrealized Losses, 12 Months or More	160	183
Fair Value, Total	8,493	8,617
Gross Unrealized Losses, Total	285	292
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	453	220
Gross Unrealized Losses, Less than 12 Months	3	1
Fair Value, 12 Months or More	603	2,087
Gross Unrealized Losses, 12 Months or More	28	58
Fair Value, Total	1,056	2,307
Gross Unrealized Losses, Total	31	59
Bonds available for sale \| Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	3,193	3,857
Gross Unrealized Losses, Less than 12 Months	56	50
Fair Value, 12 Months or More	1,812	1,860
Gross Unrealized Losses, 12 Months or More	94	78
Fair Value, Total	5,005	5,717
Gross Unrealized Losses, Total	150	128
Equity securities available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	333	368
Gross Unrealized Losses, Less than 12 Months	55	53
Fair Value, 12 Months or More	0	66
Gross Unrealized Losses, 12 Months or More	0	1
Fair Value, Total	333	434
Gross Unrealized Losses, Total	55	54
Number of securities in an unrealized loss position	112
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	58	88
Gross Unrealized Losses, Less than 12 Months	11	16
Fair Value, 12 Months or More	0	2
Gross Unrealized Losses, 12 Months or More	0	1
Fair Value, Total	58	90
Gross Unrealized Losses, Total	11	17
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	0	0
Gross Unrealized Losses, Less than 12 Months	0	0
Fair Value, 12 Months or More	0	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	0	0
Gross Unrealized Losses, Total	0	0
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	275	280
Gross Unrealized Losses, Less than 12 Months	44	37
Fair Value, 12 Months or More	0	64
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	275	344
Gross Unrealized Losses, Total	$ 44	$ 37

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, 2015	Dec. 31, 2014
Available-for-sale Securities Disclosures
Fixed Maturity Securities in a Loss Position Available for Sale , Amortized Cost, Total	$ 243,797	$ 245,237
Fixed Maturity Securities Available for Sale, Fair Value, Total	260,822	259,859
Fixed Maturity Securities in a Loss Position AFS
Available-for-sale Securities Disclosures
Due in one year or less, Amortized Cost	655	637
Due after one year through five years, Amortized Cost	4,452	6,669
Due after five years through ten years, Amortized Cost	8,569	12,873
Due after ten years, Amortized Cost	8,280	10,255
Mortgage-backed, asset-backed and collateralized, Amortized Cost	15,020	17,120
Fixed Maturity Securities in a Loss Position Available for Sale , Amortized Cost, Total	36,976	47,554
Due in one year or less, Fair Value	632	620
Due after one year through five years, Fair Value	4,314	6,529
Due after five years through ten years, Fair Value	8,170	12,338
Due after ten years, Fair Value	7,835	9,607
Mortgage-backed, asset-backed and collateralized, Fair Value	14,554	16,641
Fixed Maturity Securities Available for Sale, Fair Value, Total	35,505	45,735
Bonds available for sale
Available-for-sale Securities Disclosures
Due in one year or less, Amortized Cost	10,434	9,821
Due after one year through five years, Amortized Cost	48,034	48,352
Due after five years through ten years, Amortized Cost	59,209	62,685
Due after ten years, Amortized Cost	62,891	63,168
Mortgage-backed, asset-backed and collateralized, Amortized Cost	61,546	59,281
Fixed Maturity Securities in a Loss Position Available for Sale , Amortized Cost, Total	242,114	243,307
Due in one year or less, Fair Value	10,590	9,975
Due after one year through five years, Fair Value	50,920	50,873
Due after five years through ten years, Fair Value	62,855	65,889
Due after ten years, Fair Value	70,275	69,442
Mortgage-backed, asset-backed and collateralized, Fair Value	66,182	63,680
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 260,822	$ 259,859

INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Available-for-sale Securities Disclosures
Gross Realized Gains	$ 645,000,000	$ 246,000,000
Aggregate fair value of available for sale securities sold	6,900,000,000	6,100,000,000
Net realized capital gains (losses)	500,000,000	200,000,000
Gross Realized Losses	123,000,000	33,000,000
Fixed maturity securities
Available-for-sale Securities Disclosures
Gross Realized Gains	149,000,000	216,000,000
Gross Realized Losses	118,000,000	31,000,000
Equity securities available for sale
Available-for-sale Securities Disclosures
Gross Realized Gains	496,000,000	30,000,000
Gross Realized Losses	$ 5,000,000	$ 2,000,000

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, 2015	Dec. 31, 2014
TRADING SECURITIES
Other Securities, Fair Value	$ 20,113	$ 20,761
Other Securities, Percent of Total	100.00%	100.00%
U.S. Government agency backed ABS
TRADING SECURITIES
Other Securities, Fair Value	825,000	859,000
Fixed maturity securities
TRADING SECURITIES
Other Securities, Fair Value	19,013	19,712
Other Securities, Percent of Total	95.00%	95.00%
Fixed maturity securities \| U.S. government and government sponsored entities
TRADING SECURITIES
Other Securities, Fair Value	5,483	5,498
Other Securities, Percent of Total	27.00%	27.00%
Fixed maturity securities \| Obligations of states, municipalities and political subdivisions
TRADING SECURITIES
Other Securities, Fair Value	76	122
Other Securities, Percent of Total	0.00%	1.00%
Fixed maturity securities \| Non-U.S. government
TRADING SECURITIES
Other Securities, Fair Value	2	2
Other Securities, Percent of Total	0.00%	0.00%
Fixed maturity securities \| Corporate debt
TRADING SECURITIES
Other Securities, Fair Value	567	719
Other Securities, Percent of Total	3.00%	3.00%
Fixed maturity securities \| Mortgage-backed, asset-backed and collateralized
TRADING SECURITIES
Other Securities, Fair Value	12,885	13,371
Other Securities, Percent of Total	65.00%	64.00%
Fixed maturity securities \| Residential mortgage backed securities (RMBS)
TRADING SECURITIES
Other Securities, Fair Value	2,176	2,094
Other Securities, Percent of Total	11.00%	10.00%
Fixed maturity securities \| Commercial mortgage-backed securities (CMBS)
TRADING SECURITIES
Other Securities, Fair Value	945	1,077
Other Securities, Percent of Total	5.00%	5.00%
Fixed maturity securities \| Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
TRADING SECURITIES
Other Securities, Fair Value	9,764	10,200
Other Securities, Percent of Total	49.00%	49.00%
Fixed maturity securities \| Other
TRADING SECURITIES
Other Securities, Fair Value	0	0
Equity securities
TRADING SECURITIES
Other Securities, Fair Value	$ 1,100	$ 1,049
Other Securities, Percent of Total	5.00%	5.00%

INVESTMENTS (Details - Components of Net investment income) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Pledged Investments
Total investment income	$ 3,990.0	$ 4,328.0
Investment expenses	152.0	132.0
Net investment income	3,838	4,196
Fixed maturity securities, including short-term investments
Pledged Investments
Total investment income	2,883.0	3,131.0
Equity securities
Pledged Investments
Total investment income	15.0	(85.0)
Interest on mortgage and other loans
Pledged Investments
Total investment income	339.0	318.0
Alternative investments
Pledged Investments
Total investment income	689.0	925.0
Real estate
Pledged Investments
Total investment income	26.0	28.0
Other investments
Pledged Investments
Total investment income	$ 38.0	$ 11.0

INVESTMENTS (Details - Components of Net realized capital gains (losses)) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Other-than-temporary impairments:
Severity	$ (2)	$ 0
Change in intent	(24)	(5)
Foreign currency declines	(29)	(4)
Issuer-specific credit events	(68)	(49)
Adverse projected cash flows	(5)	(1)
Provision for loan losses	24	5
Foreign exchange transactions	254	26
Derivative instruments	208	(289)
Impairments on investments in life settlements	(70)	(42)
Other	531	(6)
Total net realized capital gains (losses)	1,341	(152)
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Sale of fixed maturity securities	31	185
Equity securities
Gain (Loss) on Investments [Line Items]
Sale of fixed maturity securities	$ 491	$ 28

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ 1,271	$ 3,939
Fixed maturity securities
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	2,156	3,994
Equity securities
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	(382)	(128)
Other investments
Available-for-sale Securities Disclosures
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (503)	$ 73

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, 2015	Mar. 31, 2014
Fixed maturity securities
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 2,659	$ 3,872
Increases due to:
Credit impairments on new securities subject to impairment losses	15	8
Additional credit impairments on previously impaired securities	22	36
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(42)	(330)
Accretion on securities previously impaired due to credit	(188)	(188)
Other	0	(9)
Balance, end of year	$ 2,466	$ 3,389

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Available-for-sale Securities Disclosures
Amortized cost	$ 242,114		$ 243,307
Fair value	264,588		264,254
Purchased Credit Impaired (PCI) Securities
Available-for-sale Securities Disclosures
Contractually required payments (principal and interest)	31,562
Cash flows expected to be collected	25,480
Recorded investment in acquired securities	16,986
Outstanding principal balance	17,362		16,962
Amortized cost	12,601		12,216
Fair value	13,788		13,462
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of year	6,865	6,940
Newly purchased PCI securities	245	522
Disposals	0	0
Accretion	(220)	(212)
Effect of changes in interest rate indices	(138)	(59)
Net reclassification from non-accretable difference, including effects of prepayments	13	(21)
Balance, end of year	$ 6,765	$ 7,170

INVESTMENTS (Details - Pledged Investments) (USD $)	3 Months Ended	12 Months Ended
INVESTMENTS (Details - Pledged Investments) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Pledged Investments
Fair Value of securities pledged	$ 4,340,000,000	$ 2,506,000,000
Fair value of amount repledged	132,000,000	131,000,000
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	6,500,000,000	5,900,000,000
FHLBs
Pledged Investments
Fair value of available for sale securities	1,200,000,000	500,000,000
Amount owned by subsidiaries	41,000,000	44,000,000
Secured financing
Pledged Investments
Fair value of available for sale securities	0	0
Fair Value of other securities	1,180,000,000	2,122,000,000
GIAs
Pledged Investments
Fair Value of other securities	$ 3,100,000,000	$ 3,500,000,000

LENDING ACTIVITIES (Details - Composition of Mortgage and other loans receivable) (USD $) In Millions, unless otherwise specified									3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2015 Commercial mortgages	Dec. 31, 2014 Commercial mortgages	Mar. 31, 2014 Commercial mortgages	Dec. 31, 2013 Commercial mortgages	Mar. 31, 2015 Commercial mortgages California	Dec. 31, 2014 Commercial mortgages California	Mar. 31, 2015 Commercial mortgages New York	Dec. 31, 2014 Commercial mortgages New York	Mar. 31, 2015 Life insurance policy loans	Dec. 31, 2014 Life insurance policy loans	Mar. 31, 2015 Commercial loans, other loans and notes receivable	Dec. 31, 2014 Commercial loans, other loans and notes receivable
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable	$ 25,563	$ 25,261			$ 19,172	$ 18,909							$ 2,665	$ 2,710	$ 3,726	$ 3,642
Allowance for losses	(250)	(271)	(299)	(312)	(143)	(159)	(200)	(201)
Mortgage and other loans receivable, net	$ 25,313	$ 24,990
Percentage of mortgage loans in geographic area									14.00%	14.00%	18.00%	18.00%

- Definition

Amount of allowance to cover probable credit losses on loans and leases. Includes carryover of or adjustments to the allowance for loan losses in connection with business combinations. Excludes allowance for loans and leases covered under loss sharing agreements.

+ References+ Details

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgages) (USD $) In Millions, unless otherwise specified																	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2015 Apartments	Dec. 31, 2014 Apartments	Mar. 31, 2015 Offices	Dec. 31, 2014 Offices	Mar. 31, 2015 Retail	Dec. 31, 2014 Retail	Mar. 31, 2015 Industrial	Dec. 31, 2014 Industrial	Mar. 31, 2015 Hotel	Dec. 31, 2014 Hotel	Mar. 31, 2015 Others	Dec. 31, 2014 Others	Mar. 31, 2015 Commercial mortgages loan	Dec. 31, 2014 Commercial mortgages loan
Credit quality indicators for commercial mortgage loans
Number of loans in good standing																	983	1,007
Number of loans restructured																	8	7
Number of loans 90 days or less delinquent																	1	6
Number of loans greater than 90 days delinquent or in process of foreclosure																	5	4
Number of Loans																	997	1,024
In good standing					$ 3,383	$ 3,384	$ 6,449	$ 6,100	$ 4,073	$ 3,807	$ 2,020	$ 1,689	$ 1,713	$ 1,660	$ 1,080	$ 1,812	$ 18,718	$ 18,452
Restructured					0	0	408	343	6	7	0	0	16	17	0	0	430	367
90 days or less delinquent					0	0	0	0	0	10	0	0	0	0	0	5	0	15
Greater than 90 days delinquent or in process of foreclosure					0	0	14	75	10	0	0	0	0	0	0	0	24	75
Mortgage and other loans receivable, net	25,313	24,990			3,383	3,384	6,871	6,518	4,089	3,824	2,020	1,689	1,729	1,677	1,080	1,817	19,172	18,909
Allowance for losses	$ 250	$ 271	$ 299	$ 312	$ 1	$ 3	$ 74	$ 86	$ 29	$ 28	$ 23	$ 22	$ 6	$ 6	$ 10	$ 14	$ 143	$ 159
Percentage of loans that are current as to payments of principal and interest																	98.00%	98.00%
Percentage restructured																	2.00%	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, 2015	Mar. 31, 2014
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 271	$ 312
Loans charged off	(1)	0
Recoveries of loans previously charged off	4	0
Net charge-offs	3	0
Provision for loan losses	(24)	(13)
Other	0	0
Activity of discontinued operations	0	0
Allowance, end of period	250	299
Loans modified in a troubled debt restructuring	65	136
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	159	201
Loans charged off	0	0
Recoveries of loans previously charged off	4	0
Net charge-offs	4	0
Provision for loan losses	(20)	(1)
Other	0	0
Activity of discontinued operations	0	0
Allowance, end of period	143	200
Allowance related to individually assessed credit losses	45	98
Commercial mortgage loans	131	281
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	112	111
Loans charged off	(1)	0
Recoveries of loans previously charged off	0	0
Net charge-offs	(1)	0
Provision for loan losses	(4)	(12)
Other	0	0
Activity of discontinued operations	0	0
Allowance, end of period	$ 107	$ 99

VARIABLE INTEREST ENTITIES (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Assets:
Bonds available for sale	$ 264,588,000,000	$ 264,254,000,000
Other bond securities	19,013,000,000	19,712,000,000
Mortgage and other loans receivable	25,313,000,000	24,990,000,000
Other invested assets	34,838,000,000	34,518,000,000
Real estate and investment funds
Liabilities:
Off-balance sheet exposure	81,900,000	56,400,000
Consolidated VIE
Assets:
Bonds available for sale	11,423,000,000	11,494,000,000
Other bond securities	7,416,000,000	7,906,000,000
Mortgage and other loans receivable	2,514,000,000	2,560,000,000
Other invested assets	3,116,000,000	2,941,000,000
Other assets	1,608,000,000	1,752,000,000
Total assets	26,077,000,000	26,653,000,000
Liabilities:
Long-term debt	1,709,000,000	1,697,000,000
Other liabilities	458,000,000	446,000,000
Total liabilities	2,167,000,000	2,143,000,000
Consolidated VIE \| Real estate and investment funds
Assets:
Other invested assets	611,000,000	577,000,000
Other assets	41,000,000	40,000,000
Total assets	652,000,000	617,000,000
Liabilities:
Long-term debt	68,000,000	69,000,000
Other liabilities	37,000,000	32,000,000
Total liabilities	105,000,000	101,000,000
Consolidated VIE \| Securitization vehicles
Assets:
Bonds available for sale	11,389,000,000	11,459,000,000
Other bond securities	6,850,000,000	7,251,000,000
Mortgage and other loans receivable	2,359,000,000	2,398,000,000
Other invested assets	632,000,000	651,000,000
Other assets	1,298,000,000	1,447,000,000
Total assets	22,528,000,000	23,206,000,000
Liabilities:
Long-term debt	1,318,000,000	1,370,000,000
Other liabilities	247,000,000	276,000,000
Total liabilities	1,565,000,000	1,646,000,000
Investment-grade debt securities, loans and other assets	0	0
Consolidated VIE \| Structured investment vehicle
Assets:
Other bond securities	528,000,000	615,000,000
Other assets	142,000,000	140,000,000
Total assets	670,000,000	755,000,000
Liabilities:
Long-term debt	52,000,000	52,000,000
Other liabilities	1,000,000
Total liabilities	53,000,000	52,000,000
Consolidated VIE \| Affordable housing partnerships
Assets:
Other invested assets	1,846,000,000	1,684,000,000
Other assets	57,000,000	49,000,000
Total assets	1,903,000,000	1,733,000,000
Liabilities:
Long-term debt	265,000,000	199,000,000
Other liabilities	140,000,000	101,000,000
Total liabilities	405,000,000	300,000,000
Consolidated VIE \| Other
Assets:
Bonds available for sale	34,000,000	35,000,000
Other bond securities	38,000,000	40,000,000
Mortgage and other loans receivable	155,000,000	162,000,000
Other invested assets	27,000,000	29,000,000
Other assets	70,000,000	76,000,000
Total assets	324,000,000	342,000,000
Liabilities:
Long-term debt	6,000,000	7,000,000
Other liabilities	33,000,000	37,000,000
Total liabilities	39,000,000	44,000,000
Unconsolidated VIE
Assets:
Other invested assets	3,200,000,000	3,200,000,000
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	27,485,000,000	28,477,000,000
Maximum Exposure to Loss, On-Balance Sheet	3,236,000,000	3,242,000,000
Maximum Exposure to Loss, Off-Balance Sheet	433,000,000	454,000,000
Total maximum exposure to loss	3,669,000,000	3,696,000,000
Unconsolidated VIE \| Real estate and investment funds
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	19,342,000,000	19,949,000,000
Maximum Exposure to Loss, On-Balance Sheet	2,817,000,000	2,785,000,000
Maximum Exposure to Loss, Off-Balance Sheet	433,000,000	454,000,000
Total maximum exposure to loss	3,250,000,000	3,239,000,000
Unconsolidated VIE \| Affordable housing partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	7,760,000,000	7,911,000,000
Maximum Exposure to Loss, On-Balance Sheet	405,000,000	425,000,000
Total maximum exposure to loss	405,000,000	425,000,000
Unconsolidated VIE \| Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	383,000,000	617,000,000
Maximum Exposure to Loss, On-Balance Sheet	14,000,000	32,000,000
Total maximum exposure to loss	$ 14,000,000	$ 32,000,000

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of derivative instruments) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	$ 134,486	$ 123,250
Gross Derivative Assets, Fair Value	6,009	4,825
Gross Derivative Liabilities, Notional Amount	114,855	103,914
Gross Derivative Liabilities, Fair Value	8,485	7,381
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	39,700	39,300
Gross Derivative Liabilities, Fair Value	1,900	1,500
Derivatives designated as hedging instruments \| Interest rate contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	155	155
Gross Derivative Assets, Fair Value	2	0
Gross Derivative Liabilities, Notional Amount	25	25
Gross Derivative Liabilities, Fair Value	2	2
Derivatives designated as hedging instruments \| Foreign exchange contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	1,201	611
Gross Derivative Assets, Fair Value	107	25
Gross Derivative Liabilities, Notional Amount	1,086	1,794
Gross Derivative Liabilities, Fair Value	99	239
Derivatives designated as hedging instruments \| Equity contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	34	7
Gross Derivative Assets, Fair Value	2	1
Gross Derivative Liabilities, Notional Amount	92	104
Gross Derivative Liabilities, Fair Value	14	13
Derivatives not designated as hedging instruments
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	133,096	122,477
Gross Derivative Assets, Fair Value	5,898	4,799
Gross Derivative Liabilities, Notional Amount	113,652	101,991
Gross Derivative Liabilities, Fair Value	8,370	7,127
Derivatives not designated as hedging instruments \| Interest rate contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	77,540	65,070
Gross Derivative Assets, Fair Value	4,819	3,743
Gross Derivative Liabilities, Notional Amount	58,358	45,251
Gross Derivative Liabilities, Fair Value	4,201	3,183
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	11,847	13,667
Gross Derivative Assets, Fair Value	864	815
Gross Derivative Liabilities, Notional Amount	10,426	8,516
Gross Derivative Liabilities, Fair Value	1,354	1,251
Derivatives not designated as hedging instruments \| Equity contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	7,470	7,565
Gross Derivative Assets, Fair Value	182	206
Gross Derivative Liabilities, Notional Amount	42,928	42,387
Gross Derivative Liabilities, Fair Value	1,926	1,615
Derivatives not designated as hedging instruments \| Commodity contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	13	15
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	12	11
Gross Derivative Liabilities, Fair Value	6	6
Derivatives not designated as hedging instruments \| Credit contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	5	5
Gross Derivative Assets, Fair Value	4	4
Gross Derivative Liabilities, Notional Amount	1,438	5,288
Gross Derivative Liabilities, Fair Value	795	982
Derivatives not designated as hedging instruments \| Other contracts
Notional amounts and fair values of AIG's derivative instruments
Gross Derivative Assets, Notional Amount	36,221	36,155
Gross Derivative Assets, Fair Value	29	31
Gross Derivative Liabilities, Notional Amount	490	538
Gross Derivative Liabilities, Fair Value	88	90
Derivatives not designated as hedging instruments \| 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

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Notional amounts and fair values of AIG's derivative instruments
Derivative Assets, Notional Amount	$ 134,486,000,000	$ 123,250,000,000
Derivative Assets, Fair Value	6,009,000,000	4,825,000,000
Derivative Liabilities, Notional Amount	114,855,000,000	103,914,000,000
Derivative Liabilities, Fair Value	8,485,000,000	7,381,000,000
Derivative assets, Counterparty netting, Fair Value	(2,476,000,000)	(2,102,000,000)
Derivative assets, Cash collateral, Fair Value	(1,912,000,000)	(1,119,000,000)
Total derivative assets, net	1,621,000,000	1,604,000,000
Derivative liabilities, Counterparty netting, Fair Value	(2,476,000,000)	(2,102,000,000)
Derivative liabilities, Cash collateral, Fair Value	(1,460,000,000)	(1,429,000,000)
Total derivative liabilities, net	4,549,000,000	3,850,000,000
Less: Bifurcated embedded derivatives assets, fair value	0	0
Less: Bifurcated embedded derivative liabilities, fair value	1,898,000,000	1,577,000,000
Total derivative assets on consolidated balance sheet	1,621,000,000	1,604,000,000
Total derivative liabilities on consolidated balance sheet	2,651,000,000	2,273,000,000
Collateral
Collateral posted to third parties for derivative transactions	3,300,000,000	3,300,000,000
Collateral obtained from third parties for derivative transactions	2,100,000,000	1,300,000,000
Global Capital Markets (GCM) derivatives \| Super Senior CDS
Notional amounts and fair values of AIG's derivative instruments
Derivative Liabilities, Notional Amount	1,200,000,000	2,600,000,000
Derivative Liabilities, Fair Value	554,000,000	947,000,000
Global Capital Markets (GCM) derivatives \| Corporate debt/CLOs
Notional amounts and fair values of AIG's derivative instruments
Derivative Liabilities, Notional Amount	0	2,500,000,000
Derivative Liabilities, Fair Value	0	7,000,000
Non-Global Capital Markets
Notional amounts and fair values of AIG's derivative instruments
Derivative Assets, Notional Amount	44,848,000,000	45,092,000,000
Derivative Assets, Fair Value	426,000,000	445,000,000
Derivative Liabilities, Notional Amount	48,551,000,000	46,944,000,000
Derivative Liabilities, Fair Value	2,592,000,000	2,226,000,000
Other Operations \| Global Capital Markets (GCM) derivatives
Notional amounts and fair values of AIG's derivative instruments
Derivative Assets, Notional Amount	89,638,000,000	78,158,000,000
Derivative Assets, Fair Value	5,583,000,000	4,380,000,000
Derivative Liabilities, Notional Amount	66,304,000,000	56,970,000,000
Derivative Liabilities, Fair Value	5,893,000,000	5,155,000,000
Other Operations \| AIG Financial Products
Notional amounts and fair values of AIG's derivative instruments
Derivative Assets, Notional Amount	21,971,000,000	23,153,000,000
Derivative Assets, Fair Value	2,599,000,000	2,445,000,000
Derivative Liabilities, Notional Amount	22,693,000,000	27,719,000,000
Derivative Liabilities, Fair Value	3,380,000,000	3,019,000,000
Other Operations \| AIG Markets
Notional amounts and fair values of AIG's derivative instruments
Derivative Assets, Notional Amount	67,667,000,000	55,005,000,000
Derivative Assets, Fair Value	2,984,000,000	1,935,000,000
Derivative Liabilities, Notional Amount	43,611,000,000	29,251,000,000
Derivative Liabilities, Fair Value	$ 2,513,000,000	$ 2,136,000,000

DERIVATIVES AND HEDGE ACCOUNTING (Details - Hedge Accounting) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2013
Derivative instruments gain (loss):
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	$ 94		$ 3
Loss on extinguishment of debt
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on hedged items	50
Derivatives designated as hedging instruments \| Interest rate contracts \| Fair value hedging
Derivative instruments gain (loss):
Amortization of debt basis adjustment following the discontinuation of hedge accounting	37	10	72	17
Derivatives designated as hedging instruments \| Interest rate contracts \| Fair value hedging \| Net realized capital gains (losses)
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	1		1
Gain (loss) recognized in earnings on hedged items	(1)		(2)
Gain (loss) recognized in earnings for ineffective portion	0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0		0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	0		(1)
Derivatives designated as hedging instruments \| Interest rate contracts \| Fair value hedging \| Other income (losses)
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	0		0
Gain (loss) recognized in earnings on hedged items	3		18
Gain (loss) recognized in earnings for ineffective portion	0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0		0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	3		18
Derivatives designated as hedging instruments \| Interest rate contracts \| Fair value hedging \| Loss on extinguishment of debt
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	0		0
Gain (loss) recognized in earnings on hedged items	13		50
Gain (loss) recognized in earnings for ineffective portion	0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0		0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	13		50
Derivatives designated as hedging instruments \| Interest rate contracts \| Fair value hedging \| Interest credited to policyholder account balances
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	0		0
Gain (loss) recognized in earnings on hedged items	0		(1)
Gain (loss) recognized in earnings for ineffective portion	0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0		0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	0		(1)
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Fair value hedging
Derivative instruments gain (loss):
Amortization of debt basis adjustment following the discontinuation of hedge accounting	22	14
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Fair value hedging \| Net realized capital gains (losses)
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	132		24
Gain (loss) recognized in earnings on hedged items	(128)		(32)
Gain (loss) recognized in earnings for ineffective portion	0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	1		(8)
Gain Loss On Fair Value Hedges Recognized In Earnings Other	3		0
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Fair value hedging \| Other income (losses)
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	0		0
Gain (loss) recognized in earnings on hedged items	6		0
Gain (loss) recognized in earnings for ineffective portion	0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0		0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	6		0
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Fair value hedging \| Loss on extinguishment of debt
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	0		0
Gain (loss) recognized in earnings on hedged items	16		0
Gain (loss) recognized in earnings for ineffective portion	0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0		0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	16		0
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Fair value hedging \| Interest credited to policyholder account balances
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	0		0
Gain (loss) recognized in earnings on hedged items	(1)	(2)	0
Gain (loss) recognized in earnings for ineffective portion	0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0		0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	(1)		0
Derivatives designated as hedging instruments \| Equity contracts \| Fair value hedging \| Net realized capital gains (losses)
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	(6)		1
Gain (loss) recognized in earnings on hedged items	5		(1)
Gain (loss) recognized in earnings for ineffective portion	0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	(1)		0
Gain Loss On Fair Value Hedges Recognized In Earnings Other	0		0
Derivatives not designated as hedging instruments \| Policy fees
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	19		15
Derivatives not designated as hedging instruments \| Net investment income
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	27		(1)
Derivatives not designated as hedging instruments \| Net realized capital gains (losses)
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	171		(275)
Derivatives not designated as hedging instruments \| Other income (losses)
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	362		49
Derivatives not designated as hedging instruments \| Policyholder benefits and claims incurred
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	5		5
Derivatives not designated as hedging instruments \| Fair value hedging
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	584		(207)
Derivatives not designated as hedging instruments \| Interest rate contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	361		139
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	322		(14)
Derivatives not designated as hedging instruments \| Equity contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	(268)		(428)
Embedded derivative gains (losses)	(178)	(64)	396	266
Derivatives not designated as hedging instruments \| Commodity contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	(1)		1
Derivatives not designated as hedging instruments \| Credit contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	147		80
Derivatives not designated as hedging instruments \| Other contracts
Derivative instruments gain (loss):
Gain (loss) recognized in earnings on derivatives	$ 23		$ 15

DERIVATIVES AND HEDGE ACCOUNTING (Details - Global Capital Market Derivatives) (USD $)					3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2015 Credit Risk-Related Contingent Features	Dec. 31, 2014 Credit Risk-Related Contingent Features	Mar. 31, 2015 Global Capital Markets (GCM) derivatives Super Senior CDS Arbitrage Multi-sector CDOs
Credit derivatives:
Collateral posted			$ 2,400,000,000	$ 2,700,000,000
Derivative weighted average maturity					6 years
Aggregate fair value of net liability position			2,900,000,000	2,500,000,000
Additional collateral requirements, one-notch downgrade	19,000,000		42,000,000
Further additional collateral requirements, one-notch downgrade			84,000,000
Fair value of hybrid securities	5,900,000,000	6,100,000,000
Par value of hybrid securities	$ 12,300,000,000	$ 12,300,000,000

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) (USD $) In Millions, unless otherwise specified	3 Months Ended		0 Months Ended							22 Months Ended			0 Months Ended		3 Months Ended	0 Months Ended					3 Months Ended
	Mar. 31, 2015	Sep. 30, 2012	Nov. 29, 2012 Chartis U.S. item	Apr. 08, 2013 UGC	Dec. 17, 2010 AIG Regulatory fines and penalties	Dec. 17, 2010 AIG Outstanding premium taxes and assessments	Dec. 17, 2010 AIG Contingent fines	Oct. 22, 2014 Consolidated 2008 Securities Litigation	Jul. 15, 2014 Consolidated 2008 Securities Litigation	Sep. 16, 2013 Consolidated 2008 Securities Litigation item	Mar. 20, 2009 Consolidated 2008 Securities Litigation complaint	Nov. 25, 2008 ERISA Litigation II complaint	Jan. 06, 2015 ERISA Litigation II AIGs fiduciary liability insurance carriers	Jan. 06, 2015 ERISA Litigation II AIG	Mar. 31, 2015 Canadian Securities Class Action claim	Nov. 15, 2013 Starr International Litigation item	Mar. 11, 2013 Starr International Litigation class	Nov. 21, 2011 Starr International Litigation	Feb. 25, 2010 False Claims Act complaint individual	Mar. 31, 2015 False Claims Act complaint multiple	Mar. 31, 2015 Caremark complaint
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																286,908
Number of purported classes																	2
Settlement agreement, number of jurisdictions			50
Civil penalty paid			50.0	4.5
Payments for Legal Settlements								960
Settlement amount awarded														40
Litigation Settlement, Amount					100.0	46.5	150.0		960.0				40.0
Realized gains on unwinding on a position	$ 196	$ 0

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015
ALICO
Guarantees
Payments made or placed in escrow accounts at end of period	$ 19
Other Operations \| AIG Financial Products
Guarantees
Amount outstanding under standby letters of credit at end of period	214
Indemnifications \| ALICO
Guarantees
Various deductible amounts under indemnifications	$ 0

EQUITY (Details - Shares Outstanding) (USD $) In Billions, except Share data, unless otherwise specified	0 Months Ended	3 Months Ended						3 Months Ended		1 Months Ended		3 Months Ended
	Mar. 26, 2015	Mar. 31, 2015	Mar. 31, 2015 ASR	Mar. 31, 2015 AIG	Mar. 31, 2015 AIG ASR item	Mar. 31, 2015 Common Stock Issued	Feb. 12, 2015 Common Stock Issued	Mar. 31, 2015 Common Stock Issued ASR	Feb. 12, 2015 Common Stock Issued AIG	Apr. 30, 2015 Common Stock Issued AIG ASR	Apr. 30, 2015 Common Stock Issued Subsequent event	Mar. 31, 2015 Treasury Stock
The following table presents a roll forward of outstanding shares:
Treasury Shares, beginning of year		(530,744,521)										(530,744,521)
Shares, beginning of year		1,906,671,492				1,906,671,492
Shares, beginning of year		1,375,926,971
Shares issued - Issuance (in shares)		5,995				0						5,995
Shares repurchased		(28,855,379)		(29,000,000)		0						(28,855,379)
Treasury Shares, end of period		(559,593,905)										(559,593,905)
Shares, end of period		1,906,671,492				1,906,671,492
Shares, end of period		1,347,077,587
Dividend paid (in dollars per share)	$ 0.125
Aggregate repurchase authorization purchase amount							$ 2.5		$ 2.5		$ 3.5
Common stock authorized to be repurchased remaining amount						1.1					3.8
Aggregate purchase price of repurchased shares				1.4
Number of accelerated stock repurchase (ASR) agreements with third-party financial institutions					3
Percentage of share repurchased during share repurchase agreement					0.00%
Number of shares received from financial institution			0
Amount paid to financial institution			$ 0
Partial receipt of shares under an ASR agreement								0
Additional shares received from financial institution										0

EQUITY (Details - Rollforward of Accumulated other comprehensive income) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	$ 10,617
Change in unrealized appreciation (depreciation) of investments	1,030	2,959
Change in unrealized appreciation (depreciation) of investments	(101)	81
Changes in foreign currency translation adjustments	(632)	(102)
Less: Income tax expense (benefit)	291	215
Deferred tax asset (liability)	(29)	(8)
Deferred tax asset (liability)	491	174
Deferred tax asset (liability)	(173)	56
Deferred tax asset (liability)	2	(7)
Other comprehensive income (loss)	37	2,725
Other comprehensive income (loss)	(72)	89
Other comprehensive income (loss)	539	2,785
Other comprehensive income (loss)	(459)	(158)
Other comprehensive income (loss)	29	9
Balance, end of period, net of tax	10,657
Accumulated Other Comprehensive Income (Loss)
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	10,617	6,360
Change in unrealized appreciation (depreciation) of investments	1,271	3,939
Change in deferred acquisition costs adjustment and other	61	(224)
Change in future policy benefits	(403)	(675)
Changes in foreign currency translation adjustments	(632)	(102)
Net actuarial gain (loss)	43	14
Prior service (cost) credit	(12)	(12)
Less: Income tax expense (benefit)	(291)	(215)
Other comprehensive income (loss)	37	2,725
Noncontrolling interests	(3)	0
Balance, end of period, net of tax	10,657	9,085
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	1,043	936
Change in unrealized appreciation (depreciation) of investments	(59)	136
Change in deferred acquisition costs adjustment and other	(19)	32
Change in future policy benefits	(23)	(87)
Deferred tax asset (liability)	29	8
Other comprehensive income (loss)	(72)	89
Balance, end of period, net of tax	971	1,025
Unrealized Appreciation (Depreciation) of All Other Investments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	12,327	6,789
Change in unrealized appreciation (depreciation) of investments	1,330	3,803
Change in deferred acquisition costs adjustment and other	80	(256)
Change in future policy benefits	(380)	(588)
Deferred tax asset (liability)	(491)	(174)
Other comprehensive income (loss)	539	2,785
Noncontrolling interests	0	0
Balance, end of period, net of tax	12,866	9,574
Foreign Currency Translation Adjustments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	(1,784)	(952)
Changes in foreign currency translation adjustments	(632)	(102)
Deferred tax asset (liability)	173	(56)
Other comprehensive income (loss)	(459)	(158)
Noncontrolling interests	(3)	0
Balance, end of period, net of tax	(2,240)	(1,110)
Change in Retirement Plan Liabilities Adjustment
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	(969)	(413)
Net actuarial gain (loss)	43	14
Prior service (cost) credit	(12)	(12)
Deferred tax asset (liability)	(2)	7
Other comprehensive income (loss)	29	9
Balance, end of period, net of tax	$ (940)	$ (404)

EQUITY (Details - Other comprehensive income reclassification adjustments) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than-Temporary Credit Impairments Were Taken
Unrealized change arising during period	$ (92)	$ 89
Less: Reclassification adjustments included in net income	9	8
Total other comprehensive income (loss), before income tax expense (benefit)	(101)	81
Less: Income tax expense (benefit)	29	8
Total other comprehensive income (loss), net of income tax expense (benefit)	(72)	89
Unrealized Appreciation (Depreciation) of All Other Investments
Unrealized change arising during period	1,507	3,188
Less: Reclassification adjustments included in net income	477	229
Total other comprehensive income (loss), before income tax expense (benefit)	1,030	2,959
Less: Income tax expense (benefit)	(491)	(174)
Total other comprehensive income (loss), net of income tax expense (benefit)	539	2,785
Foreign Currency Translation Adjustments
Unrealized change arising during period	(632)	(102)
Total other comprehensive income (loss), before income tax expense (benefit)	(632)	(102)
Less: Income tax expense (benefit)	173	(56)
Total other comprehensive income (loss), net of income tax expense (benefit)	(459)	(158)
Change in Retirement Plan Liabilities Adjustment
Unrealized change arising during period	7	1
Less: Reclassification adjustments included in net income	(24)	(1)
Total other comprehensive income (loss), before income tax expense (benefit)	31	2
Less: Income tax expense (benefit)	(2)	7
Total other comprehensive income (loss), net of income tax expense (benefit)	29	9
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	790	3,176
Less: Reclassification adjustments included in net income	462	236
Total other comprehensive income (loss), before income tax expense (benefit)	328	2,940
Less: Income tax expense (benefit)	(291)	(215)
Other comprehensive income (loss)	$ 37	$ 2,725

EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Reclassification of significant items out of Accumulated Other Comprehensive Income
Other realized capital gains	$ 1,438	$ (98)
Amortization of deferred policy acquisition costs	1,350	1,305
Policyholder benefits and losses incurred	6,551	6,797
Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total reclassifications for the period	462	236
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification of significant items out of Accumulated Other Comprehensive Income
Other realized capital gains	9	8
Total reclassifications for the period	9	8
Unrealized appreciation (depreciation) of all other investments \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification of significant items out of Accumulated Other Comprehensive Income
Other realized capital gains	512	204
Amortization of deferred policy acquisition costs	(35)	35
Policyholder benefits and losses incurred	0	(10)
Total reclassifications for the period	477	229
Change in retirement plan liabilities adjustment \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification of significant items out of Accumulated Other Comprehensive Income
Prior-service costs	(12)	(12)
Actuarial gains/(losses)	(36)	(13)
Total reclassifications for the period	(24)	(1)
Deferred acquisition costs adjustment	$ 0	$ 0

- Definition

Amount of expense related to deferred policy acquisition costs.

+ References+ Details

- Definition

Amount after tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans.

+ References+ Details

- Definition

Amount after tax of reclassification adjustment from accumulated other comprehensive income (loss) for actuarial gain (loss) related to pension and other postretirement benefit plans.

+ References+ Details

NONCONTROLLING INTERESTS (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
A rollforward of noncontrolling interests
Balance, beginning of year	$ 374
Contributions from noncontrolling interests	1	5
Other comprehensive income (loss), net of tax:
Total other comprehensive income (loss), net of tax	10,657		10,617
Total comprehensive income (loss) attributable to noncontrolling interests	6	3
Balance, end of period	388
Redeemable Noncontrolling interests
A rollforward of noncontrolling interests
Balance, beginning of year	0	30
Contributions from noncontrolling interests	0	1
Distributions to noncontrolling interests	0	0
Consolidation (deconsolidation)	0	(4)
Comprehensive income (loss):
Net income (loss)	0	0
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on investments	0	0
Foreign currency translation adjustments		0
Total other comprehensive income (loss), net of tax	0	0
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Other		0
Balance, end of period	0	27
Non-redeemable Noncontrolling interests
A rollforward of noncontrolling interests
Balance, beginning of year	374	611
Contributions from noncontrolling interests	1	5
Distributions to noncontrolling interests	(4)	(22)
Consolidation (deconsolidation)	7	(34)
Comprehensive income (loss):
Net income (loss)	9	3
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on investments	0	0
Foreign currency translation adjustments		0
Total other comprehensive income (loss), net of tax	(3)	0
Total comprehensive income (loss) attributable to noncontrolling interests	6	3
Other	4	(3)
Balance, end of period	$ 388	$ 560

EARNINGS PER SHARE (EPS) (Details) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Numerator for EPS:
Income (loss) from continuing operations	$ 2,476	$ 1,659
Net income (loss) from continuing operations attributable to noncontrolling interests	9	3
Income (loss) attributable to AIG common shareholders from continuing operations	2,467	1,656
Income (loss) from discontinued operations, net of income tax expense	1	(47)
Net income (loss) attributable to AIG common shareholders	$ 2,468	$ 1,609
Denominator for EPS:
Weighted average shares outstanding - basic	1,365,951,690	1,459,249,393
Dilutive shares	20,311,859	13,261,420
Weighted average shares outstanding - diluted	1,386,263,549	1,472,510,813
Basic:
Income from continuing operations	$ 1.81	$ 1.13
Income (loss) from discontinued operations	$ 0	$ (0.03)
Net Income (loss) attributable to AIG - basic (in dollars per share)	$ 1.81	$ 1.1
Diluted:
Income from continuing operations	$ 1.78	$ 1.12
Income (loss) from discontinued operations	$ 0	$ (0.03)
Net Income (loss) attributable to AIG - diluted (in dollars per share)	$ 1.78	$ 1.09
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive	600,000	300,000

EMPLOYEE BENEFITS (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Pensions
Components of net periodic benefit cost:
Service cost	$ 63	$ 55
Interest cost	61	64
Expected return on assets	(78)	(77)
Amortization of prior service (credit) cost	(9)	(9)
Amortization of net (gain) loss	35	13
Curtailment (gain) loss		0
Net periodic benefit cost	72	46
Contributed to pension plans	56
Estimates additional contribution to pension plans for the remainder of 2014	117
U.S. Pension Plans
Components of net periodic benefit cost:
Service cost	52	44
Interest cost	55	57
Expected return on assets	(72)	(71)
Amortization of prior service (credit) cost	(8)	(8)
Amortization of net (gain) loss	32	11
Net periodic benefit cost	59	33
Non U.S. Pension Plans
Components of net periodic benefit cost:
Service cost	11	11
Interest cost	6	7
Expected return on assets	(6)	(6)
Amortization of prior service (credit) cost	(1)	(1)
Amortization of net (gain) loss	3	2
Curtailment (gain) loss		0
Net periodic benefit cost	13	13
Postretirement Plans
Components of net periodic benefit cost:
Service cost	3	1
Interest cost	3	3
Amortization of prior service (credit) cost	(3)	(2)
Amortization of net (gain) loss		0
Net periodic benefit cost	3	2
U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost	2	1
Interest cost	2	2
Amortization of prior service (credit) cost	(3)	(2)
Amortization of net (gain) loss		0
Net periodic benefit cost	1	1
Non U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost	1	0
Interest cost	1	1
Net periodic benefit cost	$ 2	$ 1

INCOME TAXES (Details) (USD $)	3 Months Ended
INCOME TAXES (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income tax expense (benefit):
Effective tax rates on income from continuing operations (as a percent)	34.40%	27.00%
U.S. federal income tax at statutory rate (as a percent)	35.00%	35.00%
Deferred tax asset valuation allowance recognized	$ 85,000,000
Accounting for Uncertainty in Income Taxes
Unrecognized tax benefits, excluding interest and penalties	4,400,000,000		4,400,000,000
Unrecognized tax benefits, if recognized would not affect the effective tax rate	200,000,000		300,000,000
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate	4,200,000,000		4,100,000,000
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	$ (12,000,000)	$ 20,000,000
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, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Assets:
Short-term investments	$ 11,961	$ 11,243
Other investments	344,852	344,523
Total investments	356,813	355,766
Cash	1,823	1,758	2,490	2,241
Other assets, including deferred income taxes	162,065	158,057
Total assets	520,701	515,581
Liabilities:
Insurance liabilities	269,521	270,615
Long-term debt	31,999	31,217
Other liabilities, including intercompany balances	110,814	106,477
Total liabilities	412,334	408,309
Total AIG shareholders' equity	107,979	106,898
Non-redeemable noncontrolling interests	388	374
Total equity`	108,367	107,272	104,393	101,081
Total liabilities and equity	520,701	515,581
AIG (As Guarantor)
Assets:
Short-term investments	7,639	6,078
Other investments	12,000	11,415
Total investments	19,639	17,493
Cash	65	26	60	30
Loans to subsidiaries	30,016	31,070
Investment in consolidated subsidiaries	64,739	62,811
Other assets, including deferred income taxes	23,297	23,835
Total assets	137,756	135,235
Liabilities:
Long-term debt	22,137	21,190
Other liabilities, including intercompany balances	7,087	6,196
Loans from subsidiaries	553	951
Total liabilities	29,777	28,337
Total AIG shareholders' equity	107,979	106,898
Total equity`	107,979	106,898
Total liabilities and equity	137,756	135,235
Intercompany tax payable	921.0	343.0
Intercompany derivative liabilities	88.0	275.0
AIGLH
Assets:
Cash	8	91	9	51
Investment in consolidated subsidiaries	36,372	35,850
Other assets, including deferred income taxes	102	2,305
Total assets	36,482	38,246
Liabilities:
Long-term debt	820	820
Other liabilities, including intercompany balances	59	2,314
Loans from subsidiaries	0	0
Liabilities held-for-sale	0
Total liabilities	879	3,134
Total AIG shareholders' equity	35,603	35,112
Total equity`	35,603	35,112
Total liabilities and equity	36,482	38,246
Intercompany tax receivable (payable)	34.0	3.0
Other Subsidiaries
Assets:
Short-term investments	5,239	6,231
Other investments	332,852	333,108
Total investments	338,091	339,339
Cash	1,750	1,641	2,421	2,160
Loans to subsidiaries	559	779
Other assets, including deferred income taxes	145,331	141,826
Assets held-for-sale	0	0
Total assets	485,731	483,585
Liabilities:
Insurance liabilities	269,521	270,615
Long-term debt	9,042	9,207
Other liabilities, including intercompany balances	107,361	108,189
Loans from subsidiaries	30,017	30,898
Liabilities held-for-sale	0	0
Total liabilities	415,941	418,909
Redeemable noncontrolling interests (see Note 12)	0	0
Total AIG shareholders' equity	69,402	64,302
Non-redeemable noncontrolling interests	388	374
Total equity`	69,790	64,676
Total liabilities and equity	485,731	483,585
Reclassifications and Eliminations
Assets:
Short-term investments	(917)	(1,066)
Total investments	(917)	(1,066)
Loans to subsidiaries	(30,575)	(31,849)
Investment in consolidated subsidiaries	(101,111)	(98,661)
Other assets, including deferred income taxes	(6,665)	(9,909)
Total assets	(139,268)	(141,485)
Liabilities:
Other liabilities, including intercompany balances	(3,693)	(10,222)
Loans from subsidiaries	(30,570)	(31,849)
Total liabilities	(34,263)	(42,071)
Total AIG shareholders' equity	(105,005)	(99,414)
Total equity`	(105,005)	(99,414)
Total liabilities and equity	$ (139,268)	$ (141,485)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Income) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Other income	$ 15,975	$ 16,163
Total revenues	15,975	16,163
Expenses:
Interest expense	340	479
Other expenses	11,791	13,173
Loss on extinguishment of debt	68	238
Total benefits, losses and expenses	12,199	13,890
Income (loss) from continuing operations before income tax expense (benefit)	3,776	2,273
Income tax expense (benefit)	1,300	614
Income (loss) from continuing operations	2,476	1,659
Income (loss) from discontinued operations, net of income tax	1	(47)
Net income (loss)	2,477	1,612
Net income (loss) from continuing operations attributable to noncontrolling interests	9	3
Less: Other net income (loss) from continuing operations attributable to non controlling interest		0
Net income (loss) attributable to AIG	2,468	1,609
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries	2,757	1,985
Other income	150	224
Total revenues	2,907	2,209
Expenses:
Interest expense	289	422
Other expenses	246	242
Loss on extinguishment of debt	61	288
Total benefits, losses and expenses	596	952
Income (loss) from continuing operations before income tax expense (benefit)	2,311	1,257
Income tax expense (benefit)	(157)	(349)
Income (loss) from continuing operations	2,468	1,606
Income (loss) from discontinued operations, net of income tax	0	3
Net income (loss)	2,468	1,609
Net income (loss) from continuing operations attributable to noncontrolling interests	0
Net income (loss) attributable to AIG	2,468	1,609
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries	773	730
Other income	0	0
Total revenues	773	730
Expenses:
Interest expense	16	29
Other expenses	(5)	1
Loss on extinguishment of debt	0	0
Total benefits, losses and expenses	11	30
Income (loss) from continuing operations before income tax expense (benefit)	762	700
Income tax expense (benefit)	(43)	(144)
Income (loss) from continuing operations	805	844
Income (loss) from discontinued operations, net of income tax	0	0
Net income (loss)	805	844
Net income (loss) from continuing operations attributable to noncontrolling interests	0
Net income (loss) attributable to AIG	805	844
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries	0	0
Other income	15,914	16,051
Total revenues	15,914	16,051
Expenses:
Interest expense	65	61
Other expenses	11,609	12,969
Loss on extinguishment of debt	0	0
Total benefits, losses and expenses	11,674	13,030
Income (loss) from continuing operations before income tax expense (benefit)	4,240	3,021
Income tax expense (benefit)	1,501	1,126
Income (loss) from continuing operations	2,739	1,895
Income (loss) from discontinued operations, net of income tax	1	(50)
Net income (loss)	2,740	1,845
Net income (loss) from continuing operations attributable to noncontrolling interests	9	0
Less: Other net income (loss) from continuing operations attributable to non controlling interest		0
Net income (loss) attributable to AIG	2,731	1,842
Reclassifications and Eliminations
Revenues:
Equity in earnings of consolidated subsidiaries	(3,530)	(2,715)
Other income	(89)	(112)
Total revenues	(3,619)	(2,827)
Expenses:
Interest expense	(30)	(33)
Other expenses	(59)	(39)
Loss on extinguishment of debt	7	(50)
Total benefits, losses and expenses	(82)	(122)
Income (loss) from continuing operations before income tax expense (benefit)	(3,537)	(2,705)
Income tax expense (benefit)	(1)	(19)
Income (loss) from continuing operations	(3,536)	(2,686)
Income (loss) from discontinued operations, net of income tax	0	0
Net income (loss)	(3,536)	(2,686)
Net income (loss) from continuing operations attributable to noncontrolling interests	0
Net income (loss) attributable to AIG	$ (3,536)	$ (2,686)

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, 2015	Mar. 31, 2014
CONDENSED FINANCIAL STATEMENTS
Net income (loss)	$ 2,477	$ 1,612
Other comprehensive income (loss)	37	2,725
Comprehensive income (loss)	2,514	4,337
Total comprehensive income (loss) attributable to noncontrolling interests	6	3
Comprehensive income (loss) attributable to AIG	2,508	4,334
AIG (As Guarantor)
CONDENSED FINANCIAL STATEMENTS
Net income (loss)	2,468	1,609
Other comprehensive income (loss)	38	2,725
Comprehensive income (loss)	2,506	4,334
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	2,506	4,334
AIGLH
CONDENSED FINANCIAL STATEMENTS
Net income (loss)	805	844
Other comprehensive income (loss)	908	1,494
Comprehensive income (loss)	1,713	2,338
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	1,713	2,338
Other Subsidiaries
CONDENSED FINANCIAL STATEMENTS
Net income (loss)	2,740	1,845
Other comprehensive income (loss)	(1,061)	1,849
Comprehensive income (loss)	1,679	3,694
Total comprehensive income (loss) attributable to noncontrolling interests	6	3
Comprehensive income (loss) attributable to AIG	1,673	3,691
Reclassifications and Eliminations
CONDENSED FINANCIAL STATEMENTS
Net income (loss)	(3,536)	(2,686)
Other comprehensive income (loss)	152	(3,343)
Comprehensive income (loss)	(3,384)	(6,029)
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	$ (3,384)	$ (6,029)

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, 2015	Mar. 31, 2014
CONDENSED FINANCIAL STATEMENTS
Net cash provided by (used in) operating activities	$ 388	$ 763
Cash flows from investing activities:
Sales of investments	15,229	15,243
Purchase of investments	(13,109)	(14,298)
Loans to subsidiaries - net	0	0
Contributions to subsidiaries - net	0	0
Net change in restricted cash	(47)	(667)
Net change in short-term investments	(804)	3,588
Other, net	(955)	(83)
Net cash provided by investing activities	314	3,783
Cash flows from financing activities:
Issuance of long-term debt	2,585	1,583
Repayments of long-term debt	(1,893)	(3,281)
Purchase of Common Stock	(1,398)	(867)
Intercompany loans - net		0
Cash dividends paid to shareholders	(170)	(182)
Other, net	272	(1,542)
Net cash used in financing activities	(604)	(4,289)
Effect of exchange rate changes on cash	(33)	(11)
Change in cash	65	246
Cash at beginning of year	1,758	2,241
Reclassification to assets held for sale	0	3
Cash at end of period	1,823	2,490
Interest:
Third party	(307)	(840)
Taxes:
Income tax authorities	(140)	(165)
AIG (As Guarantor)
CONDENSED FINANCIAL STATEMENTS
Net cash provided by (used in) operating activities	1,111	875
Cash flows from investing activities:
Sales of investments	505	430
Purchase of investments	(897)	(38)
Loans to subsidiaries - net	1,091	295
Contributions to subsidiaries - net	(70)	40
Net change in restricted cash	0	(6)
Net change in short-term investments	(1,035)	2,027
Other, net	0	(16)
Net cash provided by investing activities	(406)	2,732
Cash flows from financing activities:
Issuance of long-term debt	2,342	0
Repayments of long-term debt	(977)	(2,196)
Purchase of Common Stock	(1,398)	(867)
Intercompany loans - net	(394)	(47)
Cash dividends paid to shareholders	(170)	(182)
Other, net	(69)	(285)
Net cash used in financing activities	(666)	(3,577)
Effect of exchange rate changes on cash	0	0
Change in cash	39	30
Cash at beginning of year	26	30
Reclassification to assets held for sale	0
Cash at end of period	65	60
Interest:
Third party	240	(363)
Intercompany	0	(1)
Taxes:
Income tax authorities	(1)	(3)
Intercompany	291	289
Non-cash financing and investing activities:
Return of capital and dividend received in the form of bond trading securities	140	0
Other capital contributions - net	111	993
AIGLH
CONDENSED FINANCIAL STATEMENTS
Net cash provided by (used in) operating activities	284	1,711
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 investing activities	0	0
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	0
Purchase of Common Stock	0	0
Intercompany loans - net	0	(100)
Cash dividends paid to shareholders	(367)	(1,653)
Other, net	0	0
Net cash used in financing activities	(367)	(1,753)
Effect of exchange rate changes on cash	0	0
Change in cash	(83)	(42)
Cash at beginning of year	91	51
Reclassification to assets held for sale	0
Cash at end of period	8	9
Interest:
Third party	(27)	(41)
Intercompany	0	(4)
Taxes:
Income tax authorities	0	0
Intercompany	0	0
Other Subsidiaries
CONDENSED FINANCIAL STATEMENTS
Net cash provided by (used in) operating activities	2,257	1,586
Cash flows from investing activities:
Sales of investments	15,995	14,813
Purchase of investments	(13,483)	(14,260)
Loans to subsidiaries - net	395	53
Contributions to subsidiaries - net	0	0
Net change in restricted cash	(47)	(661)
Net change in short-term investments	231	1,561
Other, net	(955)	(67)
Net cash provided by investing activities	2,136	1,439
Cash flows from financing activities:
Issuance of long-term debt	243	1,583
Repayments of long-term debt	(916)	(1,085)
Purchase of Common Stock	0	0
Intercompany loans - net	(1,092)	(201)
Cash dividends paid to shareholders	(2,897)	(1,756)
Other, net	411	(1,297)
Net cash used in financing activities	(4,251)	(2,756)
Effect of exchange rate changes on cash	(33)	(11)
Change in cash	109	258
Cash at beginning of year	1,641	2,160
Reclassification to assets held for sale		3
Cash at end of period	1,750	2,421
Interest:
Third party	(520)	(436)
Intercompany	0	5
Taxes:
Income tax authorities	139	162
Intercompany	291	289
Consolidation, Eliminations [Member]
CONDENSED FINANCIAL STATEMENTS
Net cash provided by (used in) operating activities	(3,264)	(3,409)
Cash flows from investing activities:
Loans to subsidiaries - net	(1,486)	(348)
Contributions to subsidiaries - net	(70)	(40)
Net cash provided by investing activities	(1,416)	(388)
Cash flows from financing activities:
Intercompany loans - net	1,486	348
Cash dividends paid to shareholders	(3,264)	(3,409)
Other, net	70	(40)
Net cash used in financing activities	$ 4,680	$ 3,797

SUBSEQUENT EVENTS (Details) (USD $)	3 Months Ended				1 Months Ended
SUBSEQUENT EVENTS (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015 Common Stock	Feb. 12, 2015 Common Stock	Apr. 30, 2015 Subsequent event Common Stock	Apr. 30, 2015 Subsequent event Junior Subordinated Debentures	Apr. 30, 2015 Subsequent event Senior notes and debentures
Subsequent events
Aggregate principal amount of debt issued						$ 1,250,000,000	$ 66,000,000
Repurchased face amount						915,000,000	61,000,000
Cash dividend declared per common share (in dollars per share)	$ 0.125	$ 0.125			$ 0.125
Common stock authorized to be repurchased remaining amount			1,100,000,000		3,800,000,000
Increase in aggregate repurchase authorization purchase amount				$ 2,500,000,000	$ 3,500,000,000

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, 2015	Mar. 31, 2014
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	$ 875	$ 740
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	(275)	(474)
Policyholder contract deposits \| 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	0	0
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	(275)	(474)
Policyholder contract deposits \| 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	0	0
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	166	87
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	19	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	6	(3)
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	141	75
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	15	(3)
Long-term debt \| 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	0	0
Long-term debt \| 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	0	0
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	15	(3)
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	316	281
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	311	304
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	(9)	(36)
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	14	13
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	113	380
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	18	51
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	6	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	89	328
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	0
Equity 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	0	0
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	0	0
Equity 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	0	0
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	446	79
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	68	77
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	389	(4)
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	$ (11)	$ 6

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Long term purchase commitments) (USD $) In Billions, unless otherwise specified	Mar. 31, 2015
Other Commitments
Other Commitments	$ 2.4

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Legal Reserves) (Legal Reserve, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Sep. 30, 2012
Legal Reserve
Legal Reserves
Increase in legal reserve liability	$ 0	$ 0