Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2015	Feb. 11, 2016	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	AMERICAN INTERNATIONAL GROUP INC
Entity Central Index Key	0000005272
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 80,826,000,000
Entity Common Stock, Shares Outstanding		1,149,448,256
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Fixed maturity securities:
Bonds available for sale, at fair value (amortized cost: 2015 - $240,968; 2014 - $243,307)	$ 248,245	$ 259,859
Other bond securities, at fair value (See Note 5)	16,782	19,712
Equity Securities:
Common and preferred stock available for sale, at fair value (cost: 2015 - $1,379; 2014 - $1,930)	2,915	4,395
Other common and preferred stock, at fair value (See Note 5)	921	1,049
Mortgage and other loans receivable, net of allowance (portion measured at fair value: 2015 - $11; 2014 - $6)	29,565	24,990
Other invested assets (portion measured at fair value: 2015 - $8,912; 2014 - $9,394)	29,794	34,518
Short-term investments (portion measured at fair value: 2015 - $2,591; 2014 - $1,684)	10,132	11,243
Total investments	338,354	355,766
Cash	1,629	1,758
Accrued investment income	2,623	2,712
Premiums and other receivables, net of allowance	11,451	12,031
Reinsurance assets, net of allowance	20,413	21,959
Deferred income taxes	20,394	19,339
Deferred policy acquisition costs	11,115	9,827
Other assets, including restricted cash of $170 in 2015 and $2,025 in 2014	11,390	12,153
Separate account assets, at fair value	79,574	80,036
Total assets	496,943	515,581
Liabilities:
Liability for unpaid losses and loss adjustment expenses	74,942	77,260
Unearned premiums	21,318	21,324
Future policy benefits for life and accident and health insurance contracts	43,585	42,749
Policyholder contract deposits (portion measured at fair value: 2015 - $2,325; 2014 - $1,561)	127,588	124,613
Other policyholder funds (portion measured at fair value: 2015 - $6; 2014 - $8)	4,212	4,669
Other liabilities (portion measured at fair value: 2015 - $62; 2014 - $350)	26,164	26,441
Long-term debt (portion measured at fair value: 2015 - $3,670; 2014 - $5,466)	29,350	31,217
Separate account liabilities	79,574	80,036
Total liabilities	$ 406,733	$ 408,309
Contingencies, commitments and guarantees (see Note 15)
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 - 712,754,875; 2014 - 530,744,521 shares of common stock	(30,098)	(19,218)
Additional paid-in capital	81,510	80,958
Retained earnings	30,943	29,775
Accumulated other comprehensive income (loss)	2,537	10,617
Total AIG shareholders' equity	89,658	106,898
Non-redeemable noncontrolling interests	552	374
Total equity	90,210	107,272
Total liabilities and equity	$ 496,943	$ 515,581

CONSOLIDATED BALANCE SHEETS (Parenthetical - assets and liabilities) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Assets:
Bonds available for sale, amortized cost	$ 240,968	$ 243,307
Common and preferred stock available for sale, cost	1,379	1,930
Mortgage and other loans receivable, portion measured at fair value	11	6
Other invested assets, portion measured at fair value	8,912	9,394
Short-term investments, portion measured at fair value	2,591	1,684
Other assets, restricted cash	170	2,025
Liabilities:
Policyholder contract deposits, portion measured at fair value	2,325	1,561
Other liabilities, portion measured at fair value	62	350
Long-term debt, portion measured at fair value	3,670	5,466
Other policyholder funds, portion measured at fair value	$ 6	$ 8

CONSOLIDATED BALANCE SHEETS (Parenthetical - equity) - $ / shares	Dec. 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	712,754,875	530,744,521

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Premiums	$ 36,655	$ 37,254	$ 37,499
Policy fees	2,755	2,615	2,340
Net investment income	14,053	16,079	15,810
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities	(556)	(182)	(165)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income (loss)	(35)	(35)	(22)
Net other-than-temporary impairments on available for sale securities recognized in net income	(591)	(217)	(187)
Other realized capital gains	1,367	956	2,126
Total net realized capital gains	776	739	1,939
Aircraft leasing revenue	0	1,602	4,420
Other income	4,088	6,117	6,866
Total revenues	58,327	64,406	68,874
Benefits, losses and expenses:
Policyholder benefits and losses incurred	31,345	28,281	29,503
Interest credited to policyholder account balances	3,731	3,768	3,892
Amortization of deferred policy acquisition costs	5,236	5,330	5,157
General operating and other expenses	12,686	13,138	13,564
Interest expense	1,281	1,718	2,142
Aircraft leasing expenses	0	1,585	4,549
Loss on extinguishment of debt	756	2,282	651
Net (gain) loss on sale of properties and divested businesses	11	(2,197)	48
Total benefits, losses and expenses	55,046	53,905	59,506
Income (loss) from continuing operations before income tax expense (benefit)	3,281	10,501	9,368
Income tax expense (benefit):
Current	820	588	680
Deferred	239	2,339	(320)
Income tax expense (benefit)	1,059	2,927	360
Income from continuing operations	2,222	7,574	9,008
Income (loss) from discontinued operations, net of income tax expense	0	(50)	84
Net income	2,222	7,524	9,092
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	26	(5)	7
Net income attributable to AIG	2,196	7,529	9,085
Net income (loss) attributable to AIG common shareholders	$ 2,196	$ 7,529	$ 9,085
Basic:
Income from continuing operations	$ 1.69	$ 5.31	$ 6.11
Income (loss) from discontinued operations - basic (in dollars per share)	0	(0.04)	0.05
Net income attributable to AIG	1.69	5.27	6.16
Diluted:
Income from continuing operations	1.65	5.24	6.08
Income (loss) from discontinued operations	0	(0.04)	0.05
Net income attributable to AIG	$ 1.65	$ 5.2	$ 6.13
Weighted average shares outstanding:
Basic	1,299,825,350	1,427,959,799	1,474,171,690
Diluted	1,334,464,883	1,447,553,652	1,481,206,797
Dividends declared per common share	$ 0.81	$ 0.5	$ 0.2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income	$ 2,222	$ 7,524	$ 9,092
Other comprehensive income (loss), net of tax
Change in unrealized appreciation of fixed maturity investments on which other-than-temporary credit impairments were recognized	(347)	107	361
Change in unrealized appreciation (depreciation) of all other investments	(6,762)	5,538	(6,673)
Change in foreign currency translation adjustments	(1,100)	(832)	(556)
Change in net derivative gains (losses) arising from cash flow hedging activities	0	0	0
Change in retirement plan liabilities adjustment	(123)	556	(631)
Other comprehensive income (loss)	(8,086)	4,257	(6,237)
Comprehensive income (loss)	(5,864)	11,781	2,855
Comprehensive income (loss) attributable to noncontrolling nonvoting, callable, junior and senior preferred interests	0	0	0
Comprehensive income (loss) attributable to other noncontrolling interests	20	(5)	(16)
Total comprehensive income (loss) attributable to noncontrolling interests	20	(5)	(16)
Comprehensive income attributable to AIG	$ (5,884)	$ 11,786	$ 2,871

CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Millions

Total

Total AIG Shareholders' Equity

Common Stock

Treasury Stock

Additional Paid-in Capital

Retained Earnings

Accumulated Other Comprehensive Income

Non redeemable Non-controlling Interests

Balance at Dec. 31, 2012

$ 98,669

$ 98,002

$ 4,766

$ (13,924)

$ 80,410

$ 14,176

$ 12,574

$ 667

Increase (Decrease) in Stockholders' Equity

Purchase of common stock

(597)

Net income attributable to AIG or other noncontrolling interests

9,090

^[1]

9,085

^[1]

9,085

^[1]

Dividends

(294)

Other comprehensive income (loss)

(6,219)

(6,214)

(5)

Deferred income taxes

355

Contributions from noncontrolling interests

Distributions to noncontrolling interests

(81)

Other

125

133

134

(2)

(8)

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

(4,698)

Net income attributable to AIG or other noncontrolling interests

7,524

7,529

(5)

Dividends

(712)

Other comprehensive income (loss)

4,257

Deferred income taxes

(10)

Net decrease due to deconsolidation

(99)

Contributions from noncontrolling interests

Distributions to noncontrolling interests

(147)

Other

(7)

(3)

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

Common stock issued under stock plans

(13)

Purchase of common stock

(10,895)

Net income attributable to AIG or other noncontrolling interests

2,222

2,196

Dividends

(1,028)

Other comprehensive income (loss)

(8,086)

(8,080)

(6)

Deferred income taxes

(9)

Net increase due to acquisitions and consolidations

231

Contributions from noncontrolling interests

Distributions to noncontrolling interests

(82)

Other

584

576

574

Balance at Dec. 31, 2015

$ 90,210

$ 89,658

$ 4,766

$ (30,098)

$ 81,510

$ 30,943

$ 2,537

$ 552

[1]	* Excludes gains of $ 2 million in 2013 , attributable to redeemable noncontrolling interests .

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Cash flows from operating activities:
Net income	$ 2,222	$ 7,524	$ 9,092
(Income) loss from discontinued operations	0	50	(84)
Noncash revenues, expenses, gains and losses included in income:
Net gains on sales of securities available for sale and other assets	(1,111)	(764)	(2,741)
Net (gains) losses on sales of divested businesses	11	(2,197)	48
Net losses on extinguishment of debt	756	2,282	651
Unrealized gains in earnings - net	(522)	(1,239)	(156)
Equity in income from equity method investments, net of dividends or distributions	(481)	(1,394)	(1,484)
Depreciation and other amortization	4,629	4,448	4,713
Impairments of assets	1,500	610	1,332
Changes in operating assets and liabilities:
Insurance reserves	1,645	(2,281)	(2,576)
Premiums and other receivables and payables - net	(70)	820	43
Reinsurance assets and funds held under reinsurance treaties	1,525	1,872	2,131
Capitalization of deferred policy acquisition costs	(5,808)	(5,880)	(5,834)
Current and deferred income taxes - net	548	2,190	(437)
Other, net	(1,967)	(1,034)	1,167
Total adjustments	655	(2,567)	(3,143)
Net cash provided by operating activities	2,877	5,007	5,865
Sales or distribution of:
Available for sale investments	28,721	25,526	36,050
Other securities	6,055	4,930	5,134
Other invested assets	8,002	3,884	6,442
Divested businesses, net	0	2,348	0
Maturities of fixed maturity securities available for sale	24,734	25,560	26,048
Principal payments received on and sales of mortgage and other loans receivable	5,104	3,856	3,420
Purchases of:
Available for sale investments	(48,848)	(45,552)	(63,339)
Other securities	(2,704)	(472)	(2,040)
Other invested assets	(3,573)	(4,078)	(7,242)
Mortgage and other loans receivable	(10,140)	(8,008)	(5,266)
Net change in restricted cash	1,457	(1,447)	1,244
Net change in short-term investments	1,163	8,760	7,842
Other, net	(1,509)	(1,023)	(1,194)
Net cash provided by investing activities	8,462	14,284	7,099
Proceeds from (payments for)
Policyholder contract deposits	17,029	16,829	15,772
Policyholder contract withdrawals	(14,619)	(15,110)	(16,319)
Issuance of long-term debt	6,867	6,687	5,235
Repayments of long-term debt	(9,805)	(16,160)	(14,197)
Purchase of Common Stock	(10,691)	(4,902)	(597)
Dividends paid	(1,028)	(712)	(294)
Other, net	818	(6,420)	(1,358)
Net cash provided by (used in) financing activities	(11,429)	(19,788)	(11,758)
Effect of exchange rate changes on cash	(39)	(74)	(92)
Net increase (decrease) in cash	(129)	(571)	1,114
Cash at beginning of year	1,758	2,241	1,151
Change in cash of businesses held for sale	0	88	(24)
Cash at end of year	$ 1,629	$ 1,758	$ 2,241

Supplementary Disclosure of Consolidated Cash Flow Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash paid during the period for:
Interest	$ 1,368	$ 3,367	$ 3,856
Taxes	511	737	796
Non-cash investing/financing activities:
Interest credited to policyholder contract deposits included in financing activities	3,676	3,904	$ 3,987
International Lease Finance Corporation (ILFC)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash consideration received from sale		$ 4,586
Aer Cap
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash consideration received from sale	$ 500

BASIS OF PRESENTATION	12 Months Ended
BASIS OF PRESENTATION	Dec. 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. The consolidated financial statements include the accounts of AIG Parent, our controlled subsidiaries (generally through a greater than 50 percent ownership of voting rights and voting interests), and variable interest entities (VIEs) of which we are the primary beneficiary. Equity investments in entities that we do not consolidate, including corporate entities in which we have significant influence and partnership and partnership-like entities in which we have more than minor influence over the operating and financial policies, are accounted for under the equity method unless we have elected the fair value option. Certain of our foreign subsidiaries included in the Consolidated Financial Statements report on different fiscal-period bases. The effect on our consolidated financial condition and results of operations of all material events occurring at these subsidiaries through the date of each of the periods presented in these Consolidated Financial Statements has been recorded. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). All material intercompany accounts and transactions have been eliminated. 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 Consolidated Statements of Income (Loss) through the date of the completion of the sale. In June 2015, we sold 86.9 million ordinary shares of AerCap by means of an underwritten public offering of 71.2 million ordinary shares and a private sale of 15.7 million ordinary shares to AerCap. We received cash proceeds of approximately $3.7 billion, reflecting proceeds of approximately $3.4 billion from the underwritten offering and cash proceeds of $250 million from the private sale of shares to AerCap. In connection with the closing of the private sale of shares to AerCap, we also received $500 million of 6.50% fixed-to-floating rate junior subordinated notes issued by AerCap Global Aviation Trust and guaranteed by AerCap and certain of its subsidiaries. These notes, included in Bonds available for sale, mature in 2045 and are callable beginning in 2025. We accounted for our interest in AerCap using the equity method of accounting through the date of the June 2015 sale, and as available for sale thereafter. In August 2015, we sold our remaining 10.7 million ordinary shares of AerCap by means of an underwritten public offering and received proceeds of approximately $500 million. 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 other invested assets, including 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. Out of Period Adjustments For the year ended December 31, 2015, we recorded out of period adjustments relating to prior years that decreased Net income attributable to AIG by $156 million, decreased Income from continuing operations before income taxes by $376 million and decreased pre-tax operating income by $235 million. The out of period adjustments are primarily related to impairments of Other invested assets and changes in Liability for unpaid losses and loss adjustment expenses and income tax liabilities. Had these adjustments, which were determined not to be material, been recorded in their appropriate periods, Net Income attributable to AIG for the years ended December 31, 2014 and 2013 would have decreased by $51 million and increased by $78 million, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following table identifies our significant accounting policies presented in other Notes to these Consolidated Financial Statements, with a reference to the Note where a detailed description can be found:

Note 5.

Investments

Fixed maturity and equity securities

Other invested assets

Short-term investments

Net investment income

Net realized capital gains (losses)

Other-than-temporary impairments

Note 6.

Lending Activities

Mortgage and other loans receivable – net of allowance

Note 7.

Reinsurance

Reinsurance assets – net of allowance

Note 8.

Deferred Policy Acquisition Costs

Deferred policy acquisition costs

Amortization of deferred policy acquisition costs

Note 10.

Derivatives and Hedge Accounting

Derivative assets and liabilities, at fair value

Note 11.

Goodwill

Note 12.

Insurance Liabilities

Liability for unpaid losses and loss adjustment expenses
Discounting of reserves

Future policy benefits

Policyholder contract deposits

Other policyholder funds

Note 13

Variable Life and Annuity Contracts

Note 14.

Debt

Long-term debt

Note 15.

Contingencies, Commitments and Guarantees

Legal contingencies

Note 17.

Earnings Per Share

Note 22.

Income Taxes

Other significant accounting policies

Premiums for short-duration contracts are recorded as written on the inception date of the policy. Premiums are earned primarily on a pro rata basis over the term of the related coverage. Sales of extended services contracts are reflected as premiums written and earned on a pro rata basis over the term of the related coverage. In addition, certain miscellaneous income is included as premiums written and earned. The reserve for unearned premiums includes the portion of premiums written relating to the unexpired terms of coverage. Reinsurance premiums are typically earned over the same period as the underlying policies or risks covered by the contract. As a result, the earnings pattern of a reinsurance contract may extend up to 24 months, reflecting the inception dates of the underlying policies throughout the year.

Reinsurance premiums ceded are recognized as a reduction in revenues over the period the reinsurance coverage is provided in proportion to the risks to which the premiums relate.

Premiums for long-duration insurance products and life contingent annuities are recognized as revenues when due. Estimates for premiums due but not yet collected are accrued.

Policy fees represent fees recognized from universal life and investment-type products consisting of policy charges for the cost of insurance, policy administration charges, surrender charges and amortization of unearned revenue reserves. Policy fees are recognized as revenues in the period in which they are assessed against policyholders, unless the fees are designed to compensate AIG for services to be provided in the future. Fees deferred as unearned revenue are amortized in relation to the incidence of expected gross profits to be realized over the estimated lives of the contracts, similar to DAC.

Aircraft leasing revenue from flight equipment under operating leases, through May 14, 2014, the date of disposal of ILFC, was recognized over the life of the leases as rental payments became receivable under the provisions of the leases or, in the case of leases with varying payments, under the straight-line method over the noncancelable term of the leases. In certain cases, leases provided for additional payments contingent on usage. In those cases, rental revenue was recognized at the time such usage occurred, net of estimated future contractual aircraft maintenance reimbursements. Gains on sales of flight equipment were recognized when flight equipment was sold and the risk of ownership of the equipment passed to the new owner.

Other income includes advisory fee income from the Consumer Insurance broker dealer business, as well as legal recoveries of $94 million, $804 million and $1.2 billion from legacy crisis and other matters in 2015, 2014 and 2013, respectively.

Other income from our Corporate and Other category consists of the following:

Changes in fair value relating to financial assets and liabilities for which the fair value option has been elected.
Interest income and related expenses, including amortization of premiums and accretion of discounts on bonds with changes in the timing and the amount of expected principal and interest cash flows reflected in the yield, as applicable.
Dividend income from common and preferred stock and earnings distributions from other investments.
Changes in the fair value of other securities sold but not yet purchased, futures, hybrid financial instruments, securities purchased under agreements to resell, and securities sold under agreements to repurchase.
Income earned on real estate based investments and related realized gains and losses from sales, property level impairments and financing costs.
Exchange gains and losses resulting from foreign currency transactions.
Earnings from private equity funds and hedge fund investments accounted for under the equity method.
Changes in the fair value of derivatives at AIG Financial Products Corp. and related subsidiaries (collectively AIGFP).
Gains and losses recognized in earnings on derivatives designated as hedges, for the effective portion and their related hedged items.

Aircraft leasing expenses through May 14, 2014, the date of disposal of ILFC, consisted of ILFC interest expense, depreciation expense, impairment charges, fair value adjustments and lease-related charges on aircraft as well as selling, general and administrative expenses and other expenses incurred by ILFC.

Cash represents cash on hand and non-interest- bearing demand deposits.

Short-term investments consist of interest-bearing cash equivalents, time deposits, securities purchased under agreements to resell, and investments, such as commercial paper, with original maturities within one year from the date of purchase.

Premiums and other receivables – net of allowance include premium balances receivable, amounts due from agents and brokers and policyholders, trade receivables for the DIB and GCM and other receivables. Trade receivables for GCM include cash collateral posted to derivative counterparties that is not eligible to be netted against derivative liabilities. The allowance for doubtful accounts on premiums and other receivables was $333 million and $428 million at December 31, 2015 and 2014, respectively.

Other assets consist of sales inducement assets, prepaid expenses, deposits, other deferred charges, real estate, other fixed assets, capitalized software costs, goodwill, intangible assets other than goodwill, restricted cash and derivative assets.

We offer sales inducements which include enhanced crediting rates or bonus payments to contract holders (bonus interest) on certain annuity and investment contract products. Sales inducements provided to the contract holder are recognized in Policyholder contract deposits in the Consolidated Balance Sheets. Such amounts are deferred and amortized over the life of the contract using the same methodology and assumptions used to amortize DAC (see Note 8 herein). To qualify for such accounting treatment, the bonus interest must be explicitly identified in the contract at inception. We must also demonstrate that such amounts are incremental to amounts we credit on similar contracts without bonus interest, and are higher than the contract’s expected ongoing crediting rates for periods after the bonus period. The deferred bonus interest and other deferred sales inducement assets totaled $845 million and $629 million at December 31, 2015 and 2014, respectively. The amortization expense associated with these assets is reported within Interest credited to policyholder account balances in the Consolidated Statements of Income. Such amortization expense totaled $88 million, $63 million and $102 million for the years ended December 31, 2015, 2014 and 2013, respectively.

The cost of buildings and furniture and equipment is depreciated principally on the straight-line basis over their estimated useful lives (maximum of 40 years for buildings and 10 years for furniture and equipment). Expenditures for maintenance and repairs are charged to income as incurred and expenditures for improvements are capitalized and depreciated. We periodically assess the carrying amount of our real estate for purposes of determining any asset impairment. Capitalized software costs, which represent costs directly related to obtaining, developing or upgrading internal use software, are capitalized and amortized using the straight-line method over a period generally not exceeding five years. Real estate, fixed assets and other long-lived assets are assessed for impairment when impairment indicators exist.

Separate accounts represent funds for which investment income and investment gains and losses accrue directly to the policyholders who bear the investment risk. Each account has specific investment objectives and the assets are carried at fair value. The assets of each account are legally segregated and are not subject to claims that arise from any of our other businesses. The liabilities for these accounts are equal to the account assets. For a more detailed discussion of separate accounts, see Note 13 herein.

Other liabilities consist of other funds on deposit, other payables, securities sold under agreements to repurchase, securities sold but not yet purchased and derivative liabilities. We have entered into certain insurance and reinsurance contracts, primarily in our Non-Life Insurance Companies segment, that do not contain sufficient insurance risk to be accounted for as insurance or reinsurance. Accordingly, the premiums received on such contracts, after deduction for certain related expenses, are recorded as deposits within Other liabilities in the Consolidated Balance Sheets. Net proceeds of these deposits are invested and generate Net investment income. As amounts are paid, consistent with the underlying contracts, the deposit liability is reduced. Also included in Other liabilities are trade payables for the DIB and GCM, which include option premiums received and payables to counterparties that relate to unrealized gains and losses on futures, forwards, and options and balances due to clearing brokers and exchanges. Trade payables for GCM also include cash collateral received from derivative counterparties that contractually cannot be netted against derivative assets.

Securities sold but not yet purchased represent sales of securities not owned at the time of sale. The obligations arising from such transactions are recorded on a trade-date basis and carried at fair value. Fair values of securities sold but not yet purchased are based on current market prices.

Foreign currency: Financial statement accounts expressed in foreign currencies are translated into U.S. dollars. Functional currency assets and liabilities are translated into U.S. dollars generally using rates of exchange prevailing at the balance sheet date of each respective subsidiary and the related translation adjustments are recorded as a separate component of Accumulated other comprehensive income, net of any related taxes, in Total AIG shareholders’ equity. Income statement accounts expressed in functional currencies are translated using average exchange rates during the period. Functional currencies are generally the currencies of the local operating environment. Financial statement accounts expressed in currencies other than the functional currency of a consolidated entity are remeasured into that entity’s functional currency resulting in exchange gains or losses recorded in income. The adjustments resulting from translation of financial statements of foreign entities operating in highly inflationary economies are recorded in income.

Non-redeemable noncontrolling interest is the portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent.

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.

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 certain 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, 2017 and may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. We plan to adopt the standard on its required effective date of January 1, 2018 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 and 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 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 do not expect the adoption of the standard to have a material effect 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 do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations and cash flows.

Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement

In April 2015, the FASB issued an accounting standard that provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance does not change generally accepted accounting principles applicable to a customer's accounting for service contracts. Consequently, all software licenses will be accounted for consistent with other licenses of intangible assets.

The standard is effective for interim and annual periods beginning after December 15, 2015. Early adoption is permitted. The standard may be adopted prospectively to all arrangements entered into or materially modified after the effective date or retrospectively. 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.

Simplifying the Presentation of Debt Issuance Costs

In April 2015, the FASB issued an accounting standard that amends the guidance for debt issuance costs by requiring such costs to be presented as a deduction to the corresponding debt liability, rather than as an asset, and for the amortization of such costs to be reported as interest expense. The amendments are intended to simplify the presentation of debt issuance costs and make it consistent with the presentation of debt discounts or premiums. The amendments, however, do not change the recognition and measurement guidance applicable to debt issuance costs.

The standard is effective for interim and annual periods beginning after December 15, 2015. Early adoption is permitted. The standard must be applied retrospectively to all prior periods presented. We plan to adopt the standard on January 1, 2016, its required effective date. Because the new standard does not affect accounting recognition or measurement of debt issuance costs, the adoption of the standard will have not have a material effect on our consolidated financial condition, results of operations, or cash flows.

Short Duration Insurance Contracts

In May 2015, the FASB issued an accounting standard that requires additional disclosures (including accident year information) for short-duration insurance contracts. New disclosures about the liability for unpaid losses and loss adjustment expenses will be required of public business entities for annual periods beginning after December 15, 2015. The annual disclosures by accident year include: disaggregated net incurred and paid claims development tables segregated by business type (not required to exceed 10 years), reconciliation of total net reserves included in development tables to the reported liability for unpaid losses and loss adjustment expenses, incurred but not reported (IBNR) information, quantitative information and a qualitative description about claim frequency, and the average annual percentage payout of incurred claims. Further, the new standard requires, when applicable, disclosures about discounting liabilities for unpaid losses and loss adjustment expenses and significant changes and reasons for changes in methodologies and assumptions used to determine unpaid losses and loss adjustment expenses. In addition, the roll forward of the liability for unpaid losses and loss adjustment expenses currently disclosed in annual financial statements will be required for interim periods beginning in the first quarter of 2017. Early adoption of the new annual and interim disclosures is permitted.

We plan to adopt the standard on its required effective date. Because the new standard does not affect accounting recognition or measurement, the adoption of the standard will have no effect on our consolidated financial condition, results of operations, or cash flows.

Recognition and Measurement of Financial Assets and Financial Liabilities

In January 2016, the FASB issued an accounting standard that affects the recognition, measurement, presentation, and disclosure of financial instruments. Specifically, under the new standard, equity investments (other than those accounted for using the equity method of accounting or those subject to consolidation) will be measured at fair value with changes in fair value recognized in earnings. Also, for those financial liabilities for which fair value option accounting has been elected, the new standard requires changes in fair value due to instrument-specific credit risk to be presented separately in other comprehensive income. The standard updates certain fair value disclosure requirements for financial instruments carried at amortized cost.

The standard is effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption of certain provisions is permitted. We are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows.

SEGMENT INFORMATION

12 Months Ended

Dec. 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 as well as 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 revenues 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 the items excluded from pre-tax operating income.

Investment income of the Non-Life Insurance Companies is allocated between the Property Casualty and Personal Insurance operating segments based on an internal investment income allocation model. The model estimates investable funds based primarily on loss reserves and allocated capital. Investment income of the Life Insurance Companies is attributed to the Retirement, Life and Institutional Markets operating segments based on invested assets in product line portfolios; income from invested assets in excess of liabilities is allocated to product lines based on internal capital estimates.

The Commercial and Consumer reportable segments are each presented as three operating segments:

Commercial Insurance

The Commercial Insurance segment is presented as three operating segments:

Property Casualty – consists of Casualty, Property, Specialty, and Financial product lines.
Mortgage Guaranty – Mortgage insurance protects mortgage lenders and investors against the increased risk of borrower default related to high loan-to-value mortgages.
Institutional Markets – consists of stable value wrap products, structured settlement and terminal funding annuities, high net worth products, corporate- and bank-owned life insurance and guaranteed investment contracts (GICs).

Property Casualty products are primarily distributed through a network of independent retail and wholesale brokers, and through an independent agency network. Mortgage Guaranty products and services are provided to mortgage lenders including mortgage banks, credit unions and finance agencies. Institutional Markets products are marketed primarily through specialized marketing and consulting firms and structured settlement brokers.

Consumer Insurance

The Consumer Insurance segment is presented as three operating segments:

Retirement – consists of Fixed Annuities, Retirement Income Solutions, Group Retirement, and Retail Mutual Funds product lines.
Life – primary products in the U.S. include term life and universal life insurance. International products include term and whole life insurance, supplemental health, cancer and critical illness insurance.
Personal Insurance – consists of Personal Lines and Accident & Health product lines.

Retirement products are distributed through affiliated career financial advisors and through non-affiliated channels, which include banks, wirehouses, regional and independent broker-dealers, independent marketing organizations and independent insurance agents. Life products in the U.S. are primarily distributed through independent marking organizations, independent insurance agents, financial advisors and direct marketing. International life products are sold through non-affiliated independent agents and direct marketing. Personal insurance products are distributed primarily through agents and brokers, as well as through direct marketing and partner organizations.

Corporate and Other

Our Corporate and Other consists of:

Income from assets held by AIG Parent and other corporate subsidiaries;
General operating expenses not attributable to specific reporting segments;
Interest expense; and
Run-off insurance lines.

Certain of our management activities, such as investment management, enterprise risk management, liquidity management and capital management, and our balance sheet reporting, are conducted on a legal entity basis. We group our insurance-related legal entities into two categories: Non-Life Insurance Companies, and Life Insurance Companies.

Non-Life Insurance Companies include the following major property casualty and mortgage guaranty companies: National Union Fire Insurance Company of Pittsburgh, Pa.(National Union); American Home Assurance Company (American Home); Lexington Insurance Company (Lexington); Fuji Fire and Marine Insurance Company Limited (Fuji Fire); American Home Assurance Company, Ltd. (American Home Japan); AIG Asia Pacific Insurance, Pte, Ltd.; AIG Europe Limited and United Guaranty Residential Insurance Company (UGRIC).

Life Insurance Companies include the following major operating companies: American General Life Insurance Company (American General Life); The Variable Annuity Life Insurance Company (VALIC); The United States Life Insurance Company in the City of New York (U.S. Life) and AIG Fuji Life Insurance Company Limited (Fuji Life).

The following table presents AIG’s continuing operations by reportable segment:

				Net				Depreciation		Pre-Tax
		Total		Investment		Interest		and		Operating
(in millions)		Revenues		Income		Expense		Amortization		Income (Loss)
2015
Commercial Insurance
Property Casualty	$	23,625	$	3,596	$	12	$	2,255	$	593
Mortgage Guaranty		1,051		139		-		64		644
Institutional Markets		3,518		1,739		11		(177)		415
Total Commercial Insurance		28,194		5,474		23		2,142		1,652
Consumer Insurance
Retirement		9,298		6,002		39		(98)		2,839
Life		6,393		2,100		14		205		465
Personal Insurance		11,378		220		1		1,944		74
Total Consumer Insurance		27,069		8,322		54		2,051		3,378
Corporate and Other		2,901		617		1,313		426		(883)
AIG Consolidation and elimination		(573)		(317)		(109)		10		(92)
Total AIG Consolidated pre-tax operating income	$	57,591	$	14,096	$	1,281	$	4,629	$	4,055
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		(43)		(43)		-		-		(43)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		-		-		-		(15)
Other income (expense) - net		-		-		-		-		(233)
Loss on extinguishment of debt		-		-		-		-		(756)
Net realized capital gains		776		-		-		-		776
Income from divested businesses		(48)		-		-		-		(59)
Non-operating litigation reserves and settlements		94		-		-		-		82
Reserve development related to non-operating run-off insurance
business		-		-		-		-		(30)
Restructuring and other costs		-		-		-		-		(496)
Other		(43)		-		-		-		-
Pre-tax income	$	58,327	$	14,053	$	1,281	$	4,629	$	3,281
2014
Commercial Insurance
Property Casualty	$	25,183	$	4,298	$	-	$	2,445	$	4,248
Mortgage Guaranty		1,042		138		-		56		592
Institutional Markets		2,576		1,957		7		(215)		670
Total Commercial Insurance		28,801		6,393		7		2,286		5,510
Consumer Insurance
Retirement		9,784		6,489		23		(231)		3,495
Life		6,321		2,199		7		130		580
Personal Insurance		12,364		394		2		2,067		399
Total Consumer Insurance		28,469		9,082		32		1,966		4,474
Corporate and Other		4,206		700		1,805		346		(379)
AIG Consolidation and elimination		(475)		(356)		(126)		(181)		(31)
Total AIG Consolidated pre-tax operating income	$	61,001	$	15,819	$	1,718	$	4,417	$	9,574
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		260		260		-		-		260
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		-		-		-		(217)
Other income (expense) - net		-		-		-		-		-
Loss on extinguishment of debt		-		-		-		-		(2,282)
Net realized capital gains		739		-		-		-		739
Loss from divested businesses		1,602		-		-		31		2,169
Non-operating litigation reserves and settlements		804		-		-		-		258
Reserve development related to non-operating run-off insurance
business		-		-		-		-		-
Restructuring and other costs		-		-		-		-		-
Other		-		-		-		-		-
Pre-tax income	$	64,406	$	16,079	$	1,718	$	4,448	$	10,501
2013
Commercial Insurance
Property Casualty	$	25,108	$	4,431	$	8	$	2,393	$	4,095
Mortgage Guaranty		941		132		-		50		205
Institutional Markets		2,813		2,090		1		(160)		680
Total Commercial Insurance		28,862		6,653		9		2,283		4,980
Consumer Insurance
Retirement		9,431		6,628		3		(165)		3,490
Life		6,397		2,269		4		214		806
Personal Insurance		12,832		455		3		2,110		268
Total Consumer Insurance		28,660		9,352		10		2,159		4,564
Corporate and Other		4,073		309		2,451		221		(265)
AIG Consolidation and elimination		(71)		(343)		(328)		(26)		111
Total AIG Consolidated pre-tax operating income	$	61,524	$	15,971	$	2,142	$	4,637	$	9,390
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		(161)		(161)		-		-		(161)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		-		-		-		(1,608)
Other income (expense) - net		-		-		-		-		(72)
Loss on extinguishment of debt		-		-		-		-		(651)
Net realized capital gains		1,939		-		-		-		1,939
Loss from divested businesses		4,420		-		-		76		(177)
Non-operating litigation reserves and settlements		1,152		-		-		-		708
Reserve development related to non-operating run-off insurance
business		-		-		-		-		-
Restructuring and other costs		-		-		-		-		-
Other		-		-		-		-		-
Pre-tax income	$	68,874	$	15,810	$	2,142	$	4,713	$	9,368

The following table presents AIG’s year-end identifiable assets and capital expenditures by legal entity category:

	Year-End Identifiable Assets				Capital Expenditures
(in millions)		2015		2014		2015		2014
Total Non-Life Insurance Companies	$	150,368	$	164,299	$	991	$	697
Total Life Insurance Companies		297,499		301,295		102		114
Total Corporate and Other		141,648		159,394		629		1,021
AIG Consolidation and Elimination		(92,572)		(109,407)		-		-
Total Assets	$	496,943	$	515,581	$	1,722	$	1,832

The following table presents AIG’s consolidated total revenues and real estate and other fixed assets, net of accumulated depreciation, by major geographic area:

							Real Estate and Other Fixed Assets,
	Total Revenues^*						Net of Accumulated Depreciation
(in millions)		2015		2014		2013		2015		2014		2013
U.S.	$	42,366	$	44,274	$	46,078	$	2,213	$	1,886	$	1,606
Asia Pacific		5,942		7,523		8,804		602		521		448
Other Foreign		10,019		12,609		13,992		320		293		261
Consolidated	$	58,327	$	64,406	$	68,874	$	3,135	$	2,700	$	2,315

* Revenues are generally reported according to the geographic location of the reporting unit.

- 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

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2015

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

4. FAIR VALUE MEASUREMENTS

Fair Value Measurements on a Recurring Basis

We carry certain of our financial instruments at fair value. We define the fair value of a financial instrument as the amount that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We are responsible for the determination of the value of the investments carried at fair value and the supporting methodologies and assumptions.

The degree of judgment used in measuring the fair value of financial instruments generally inversely correlates with the level of observable valuation inputs. We maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Financial instruments with quoted prices in active markets generally have more pricing observability and less judgment is used in measuring fair value. Conversely, financial instruments for which no quoted prices are available have less observability and are measured at fair value using valuation models or other pricing techniques that require more judgment. Pricing observability is affected by a number of factors, including the type of financial instrument, whether the financial instrument is new to the market and not yet established, the characteristics specific to the transaction, liquidity and general market conditions.

Fair Value Hierarchy

Assets and liabilities recorded at fair value in the 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.

The following is a description of the valuation methodologies used for instruments carried at fair value. These methodologies are applied to assets and liabilities across the levels discussed above, and it is the observability of the inputs used that determines the appropriate level in the fair value hierarchy for the respective asset or liability.

Valuation Methodologies of Financial Instruments Measured at Fair Value

Incorporation of Credit Risk in Fair Value Measurements

Our Own Credit Risk. Fair value measurements for certain liabilities incorporate our own credit risk by determining the explicit cost for each counterparty to protect against its net credit exposure to us at the balance sheet date by reference to observable AIG CDS or cash bond spreads. We calculate the effect of credit spread changes using discounted cash flow techniques that incorporate current market interest rates. A derivative counterparty’s net credit exposure to us is determined based on master netting agreements, when applicable, which take into consideration all derivative positions with us, as well as collateral we post with the counterparty at the balance sheet date. For a description of how we incorporate our own credit risk in the valuation of embedded derivatives related to certain annuity and life insurance products, see Embedded Derivatives within Policyholder Contract Deposits, below.
Counterparty Credit Risk. Fair value measurements for freestanding derivatives incorporate counterparty credit by determining the explicit cost for us to protect against our net credit exposure to each counterparty at the balance sheet date by reference to observable counterparty CDS spreads, when available. When not available, other directly or indirectly observable credit spreads will be used to derive the best estimates of the counterparty spreads. Our net credit exposure to a counterparty is determined based on master netting agreements, which take into consideration all derivative positions with the counterparty, as well as collateral posted by the counterparty at the balance sheet date.

Fair values for fixed maturity securities based on observable market prices for identical or similar instruments implicitly incorporate counterparty credit risk. Fair values for fixed maturity securities based on internal models incorporate counterparty credit risk by using discount rates that take into consideration cash issuance spreads for similar instruments or other observable information.

For fair values measured based on internal models, the cost of credit protection is determined under a discounted present value approach considering the market levels for single name CDS spreads for each specific counterparty, the mid-market value of the net exposure (reflecting the amount of protection required) and the weighted average life of the net exposure. CDS spreads are provided to us by an independent third party. We utilize an interest rate based on the benchmark London Interbank Offered Rate (LIBOR) curve to derive our discount rates.

While this approach does not explicitly consider all potential future behavior of the derivative transactions or potential future changes in valuation inputs, we believe this approach provides a reasonable estimate of the fair value of the assets and liabilities, including consideration of the impact of non-performance risk.

Fixed Maturity Securities

Whenever available, we obtain quoted prices in active markets for identical assets at the balance sheet date to measure fixed maturity securities at fair value. Market price data is generally obtained from dealer markets.

We employ independent third-party valuation service providers to gather, analyze, and interpret market information to derive fair value estimates for individual investments, based upon market-accepted methodologies and assumptions. The methodologies used by these independent third-party valuation service providers are reviewed and understood by management, through periodic discussion with and information provided by the independent third-party valuation service providers. In addition, as discussed further below, control processes are applied to the fair values received from independent third-party valuation service providers to ensure the accuracy of these values.

Valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of market-accepted valuation methodologies, which may utilize matrix pricing, financial models, accompanying model inputs and various assumptions, provide a single fair value measurement for individual securities. The inputs used by the valuation service providers include, but are not limited to, market prices from completed transactions for identical securities and transactions for comparable securities, benchmark yields, interest rate yield curves, credit spreads, prepayment rates, default rates, recovery assumptions, currency rates, quoted prices for similar securities and other market-observable information, as applicable. If fair value is determined using financial models, these models generally take into account, among other things, market observable information as of the measurement date as well as the specific attributes of the security being valued, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security or issuer-specific information. When market transactions or other market observable data is limited, the extent to which judgment is applied in determining fair value is greatly increased.

We have control processes designed to ensure that the fair values received from independent third-party valuation service providers are accurately recorded, that their data inputs and valuation techniques are appropriate and consistently applied and that the assumptions used appear reasonable and consistent with the objective of determining fair value. We assess the reasonableness of individual security values received from independent third-party valuation service providers through various analytical techniques, and have procedures to escalate related questions internally and to the independent third-party valuation service providers for resolution. To assess the degree of pricing consensus among various valuation service providers for specific asset types, we conduct comparisons of prices received from available sources. We use these comparisons to establish a hierarchy for the fair values received from independent third-party valuation service providers to be used for particular security classes. We also validate prices for selected securities through reviews by members of management who have relevant expertise and who are independent of those charged with executing investing transactions.

When our independent third-party valuation service providers are unable to obtain sufficient market observable information upon which to estimate the fair value for a particular security, fair value is determined either by requesting brokers who are knowledgeable about these securities to provide a price quote, which is generally non-binding, or by employing market accepted valuation models. Broker prices may be based on an income approach, which converts expected future cash flows to a single present value amount, with specific consideration of inputs relevant to particular security types. For structured securities, such inputs may include ratings, collateral types, geographic concentrations, underlying loan vintages, loan delinquencies and defaults, loss severity assumptions, prepayments, and weighted average coupons and maturities. When the volume or level of market activity for a security is limited, certain inputs used to determine fair value may not be observable in the market. Broker prices may also be based on a market approach that considers recent transactions involving identical or similar securities. Fair values provided by brokers are subject to similar control processes to those noted above for fair values from independent third-party valuation service providers, including management reviews. For those corporate debt instruments (for example, private placements) that are not traded in active markets or that are subject to transfer restrictions, valuations reflect illiquidity and non-transferability, based on available market evidence. 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 comparable securities, adjusted for illiquidity and structure. Fair values determined internally are also subject to management review to ensure that valuation models and related inputs are reasonable.

The methodology above is relevant for all fixed maturity securities including residential mortgage backed securities (RMBS), commercial mortgage backed securities (CMBS), collateralized debt obligations (CDO), other asset-backed securities (ABS) and fixed maturity securities issued by government sponsored entities and corporate entities.

Equity Securities Traded in Active Markets

Whenever available, we obtain quoted prices in active markets for identical assets at the balance sheet date to measure equity securities at fair value. Market price data is generally obtained from exchange or dealer markets.

Mortgage and Other Loans Receivable

We estimate the fair value of mortgage and other loans receivable that are measured at fair value by using dealer quotations, discounted cash flow analyses and/or internal valuation models. The determination of fair value considers inputs such as interest rate, maturity, the borrower’s creditworthiness, collateral, subordination, guarantees, past-due status, yield curves, credit curves, prepayment rates, market pricing for comparable loans and other relevant factors.

Other Invested Assets

We initially estimate the fair value of investments in certain hedge funds, private equity funds and other investment partnerships by reference to the transaction price. Subsequently, we generally obtain the fair value of these investments from net asset value information provided by the general partner or manager of the investments, the financial statements of which are generally audited annually. We consider observable market data and perform certain control procedures to validate the appropriateness of using the net asset value as a fair value measurement. The fair values of other investments carried at fair value, such as direct private equity holdings, are initially determined based on transaction price and are subsequently estimated based on available evidence such as market transactions in similar instruments, other financing transactions of the issuer and other available financial information for the issuer, with adjustments made to reflect illiquidity as appropriate.

Short-term Investments

For short-term investments that are measured at amortized cost, the carrying amounts of these assets approximate fair values because of the relatively short period of time between origination and expected realization, and their limited exposure to credit risk. Securities purchased under agreements to resell (reverse repurchase agreements) are generally treated as collateralized receivables. We report certain receivables arising from securities purchased under agreements to resell as Short-term investments in the Consolidated Balance Sheets. When these receivables are measured at fair value, we use market-observable interest rates to determine fair value.

Separate Account Assets

Separate account assets are composed primarily of registered and unregistered open-end mutual funds that generally trade daily and are measured at fair value in the manner discussed above for equity securities traded in active markets.

Freestanding Derivatives

Derivative assets and liabilities can be exchange-traded or traded over-the-counter (OTC). We generally value exchange-traded derivatives such as futures and options using quoted prices in active markets for identical derivatives at the balance sheet date.

OTC derivatives are valued using market transactions and other market evidence whenever possible, including market-based inputs to models, model calibration to market clearing transactions, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. When models are used, the selection of a particular model to value an OTC derivative depends on the contractual terms of, and specific risks inherent in the instrument, as well as the availability of pricing information in the market. We generally use similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices and rates, yield curves, credit curves, measures of volatility, prepayment rates and correlations of such inputs. For OTC derivatives that trade in liquid markets, such as generic forwards, swaps and options, model inputs can generally be corroborated by observable market data by correlation or other means, and model selection does not involve significant management judgment.

For certain OTC derivatives that trade in less liquid markets, where we generally do not have corroborating market evidence to support significant model inputs and cannot verify the model to market transactions, the transaction price may provide the best estimate of fair value. Accordingly, when a pricing model is used to value such an instrument, the model is adjusted so the model value at inception equals the transaction price. We will update valuation inputs in these models only when corroborated by evidence such as similar market transactions, independent third-party valuation service providers and/or broker or dealer quotations, or other empirical market data. When appropriate, valuations are adjusted for various factors such as liquidity, bid/offer spreads and credit considerations. Such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate is used.

We value our super senior credit default swap portfolio using prices obtained from vendors and/or counterparties. The valuation of the super senior credit derivatives is complex because of the limited availability of market observable information due to the lack of trading and price transparency in certain structured finance markets. Our valuation methodologies for the super senior CDS portfolio have evolved over time in response to market conditions and the availability of market observable information. We have sought to calibrate the methodologies to available market information and to review the assumptions of the methodologies on a regular basis.

Embedded Derivatives within Policyholder Contract Deposits

Certain variable annuity and equity-indexed annuity and life contracts contain embedded derivatives that we bifurcate from the host contracts and account for separately at fair value, with changes in fair value recognized in earnings. These embedded derivatives are classified within Policyholder contract deposits. We have concluded these contracts contain either (i) a written option that guarantees a minimum accumulation value at maturity, (ii) a written option that guarantees annual withdrawals regardless of underlying market performance for a specific period or for life, or (iii) equity-indexed written options that meet the criteria of derivatives and must be bifurcated.

The fair value of embedded derivatives contained in certain variable annuity and equity-indexed annuity and life contracts is measured based on actuarial and capital market assumptions related to projected cash flows over the expected lives of the contracts. These discounted cash flow projections primarily include benefits and related fees assessed, when applicable. In some instances, the projected cash flows from fees may exceed projected cash flows related to benefit payments and therefore, at a point in time, the carrying value of the embedded derivative may be in a net asset position. The projected cash flows incorporate best estimate assumptions for policyholder behavior (including mortality, lapses, withdrawals and benefit utilization), along with an explicit risk margin to reflect a market participant’s estimates of projected cash flows and policyholder behavior. Estimates of future policyholder behavior are subjective and based primarily on our historical experience.

Because of the dynamic and complex nature of the projected cash flows with respect to embedded derivatives in our variable annuity contracts, risk neutral valuations are used which are calibrated to observable interest rate and equity option prices. Estimating the underlying cash flows for these products involves judgments regarding expected market rates of return, market volatility, credit spreads, correlations of certain market variables, fund performance, discount rates and policyholder behavior. The portion of fees attributable to the fair value of expected benefit payments are included within the fair value measurement of these embedded derivatives and related fees are classified in net realized gain/loss as earned, consistent with other changes in the fair value of these embedded policy derivatives. Any portion of the fees not attributed to the embedded derivative are excluded from the fair value measurement and classified in policy fees as earned.

With respect to embedded derivatives in our equity-indexed annuity and life contracts, option pricing models are used to estimate fair value, taking into account assumptions for future equity index growth rates, volatility of the equity index, future interest rates, and determinations on adjusting the participation rate and the cap on equity-indexed credited rates in light of market conditions and policyholder behavior assumptions.

Projected cash flows are discounted using the interest rate swap curve (swap curve), which is commonly viewed as being consistent with the credit spreads for highly-rated financial institutions (S&P AA-rated or above). A swap curve shows the fixed-rate leg of a non-complex swap against the floating rate (for example, LIBOR) leg of a related tenor. We also incorporate our own risk of non-performance in the valuation of the embedded derivatives associated with variable annuity and equity-indexed annuity and life contracts. The non-performance risk adjustment reflects a market participant’s view of our claims-paying ability by incorporating an additional spread to the swap curve used to discount projected benefit cash flows in the valuation of these embedded derivatives. The non-performance risk adjustment is calculated by constructing forward rates based on a weighted average of observable corporate credit indices to approximate the claims-paying ability rating of our Life Insurance Companies.

Long-Term Debt

The fair value of non-structured liabilities is generally determined by using market prices from exchange or dealer markets, when available, or discounting expected cash flows using the appropriate discount rate for the applicable maturity. We determine the fair value of structured liabilities and hybrid financial instruments (where performance is linked to structured interest rates, inflation or currency risks) using the appropriate derivative valuation methodology (described above) given the nature of the embedded risk profile. In addition, adjustments are made to the valuations of both non-structured and structured liabilities to reflect our own creditworthiness based on the methodology described under the caption “Incorporation of Credit Risk in Fair Value Measurements – Our Own Credit Risk” above.

Borrowings under obligations of guaranteed investment agreements (GIAs), which are guaranteed by us, are recorded at fair value using discounted cash flow calculations based on interest rates currently being offered for similar contracts and our current market observable implicit credit spread rates with maturities consistent with those remaining for the contracts being valued. Obligations may be called at various times prior to maturity at the option of the counterparty. Interest rates on these borrowings are primarily fixed, vary by maturity and range up to 7.62 percent.

Other Liabilities

Other liabilities measured at fair value include certain securities sold under agreements to repurchase and certain securities sold but not yet purchased. Liabilities arising from securities sold under agreements to repurchase are generally treated as collateralized borrowings. We estimate the fair value of liabilities arising under these agreements by using market-observable interest rates. This methodology considers such factors as the coupon rate, yield curves and other relevant factors. Fair values for securities sold but not yet purchased are based on current market prices.

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:

December 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	$	-	$	1,844	$	-	$	-	$	-	$	1,844
Obligations of states, municipalities and political subdivisions		-		25,199		2,124		-		-		27,323
Non-U.S. governments		683		17,480		32		-		-		18,195
Corporate debt		-		134,618		1,370		-		-		135,988
RMBS		-		19,690		16,537		-		-		36,227
CMBS		-		10,986		2,585		-		-		13,571
CDO/ABS		-		8,928		6,169		-		-		15,097
Total bonds available for sale		683		218,745		28,817		-		-		248,245
Other bond securities:
U.S. government and government sponsored entities		-		3,369		-		-		-		3,369
Obligations of states, municipalities and political subdivisions		-		75		-		-		-		75
Non-U.S. governments		-		50		-		-		-		50
Corporate debt		-		2,018		17		-		-		2,035
RMBS		-		649		1,581		-		-		2,230
CMBS		-		557		193		-		-		750
CDO/ABS		-		1,218		7,055		-		-		8,273
Total other bond securities		-		7,936		8,846		-		-		16,782
Equity securities available for sale:
Common stock		2,401		-		-		-		-		2,401
Preferred stock		22		-		-		-		-		22
Mutual funds		491		1		-		-		-		492
Total equity securities available for sale		2,914		1		-		-		-		2,915
Other equity securities		906		1		14		-		-		921
Mortgage and other loans receivable		-		-		11		-		-		11
Other invested assets		2		4,256		4,654		-		-		8,912
Derivative assets:
Interest rate contracts		-		3,150		12		-		-		3,162
Foreign exchange contracts		-		766		-		-		-		766
Equity contracts		91		32		54		-		-		177
Commodity contracts		-		-		-		-		-		-
Credit contracts		-		-		3		-		-		3
Other contracts		-		2		21		-		-		23
Counterparty netting and cash collateral		-		-		-		(1,268)		(1,554)		(2,822)
Total derivative assets		91		3,950		90		(1,268)		(1,554)		1,309
Short-term investments		1,416		1,175		-		-		-		2,591
Separate account assets		73,699		5,875		-		-		-		79,574
Total	$	79,711	$	241,939	$	42,432	$	(1,268)	$	(1,554)	$	361,260
Liabilities:
Policyholder contract deposits	$	-	$	36	$	2,289	$	-	$	-	$	2,325
Other policyholder funds		6		-		-		-		-		6
Derivative liabilities:
Interest rate contracts		-		2,137		62		-		-		2,199
Foreign exchange contracts		-		1,197		7		-		-		1,204
Equity contracts		-		68		-		-		-		68
Commodity contracts		-		-		-		-		-		-
Credit contracts		-		-		508		-		-		508
Other contracts		-		-		69		-		-		69
Counterparty netting and cash collateral		-		-		-		(1,268)		(760)		(2,028)
Total derivative liabilities		-		3,402		646		(1,268)		(760)		2,020
Long-term debt		-		3,487		183		-		-		3,670
Other liabilities		-		62		-		-		-		62
Total	$	6	$	6,987	$	3,118	$	(1,268)	$	(760)	$	8,083

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 qualifying master netting agreements.

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 years ended December 31, 2015 and 2014, we transferred $695 million and $590 million, respectively, of securities issued by Non-U.S. government entities from Level 1 to Level 2, because they are no longer considered actively traded. For similar reasons, during the years ended December 31, 2015 and 2014, we transferred $181 million and $107 million, respectively, of securities issued by the U.S. government and government-sponsored entities from Level 1 to Level 2. There were no material transfers from Level 2 to Level 1 during the years ended December 31, 2015 and 2014.

Changes in Level 3 Recurring Fair Value Measurements

The following tables present changes during the years ended December 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 Consolidated Balance Sheets at December 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 Year		in Income		Income (Loss)		Settlements, Net		In		Out		of Year		at End of Year
December 31, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,159	$	1	$	(85)	$	154	$	-	$	(105)	$	2,124	$	-
Non-U.S. governments		30		-		(7)		10		-		(1)		32		-
Corporate debt		1,883		15		(109)		(210)		1,515		(1,724)		1,370		-
RMBS		16,805		1,052		(512)		(808)		-		-		16,537		-
CMBS		2,696		77		(95)		118		-		(211)		2,585		-
CDO/ABS		6,110		149		(258)		300		7		(139)		6,169		-
Total bonds available for sale		29,683		1,294		(1,066)		(436)		1,522		(2,180)		28,817		-
Other bond securities:
Corporate debt		-		-		-		1		16		-		17		-
RMBS		1,105		32		-		460		43		(59)		1,581		(27)
CMBS		369		(3)		-		(177)		4		-		193		(13)
CDO/ABS		7,449		646		-		(1,658)		698		(80)		7,055		(87)
Total other bond securities		8,923		675		-		(1,374)		761		(139)		8,846		(127)
Equity securities available for sale:
Common stock		1		2		-		(3)		-		-		-		-
Preferred stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		1		2		-		(3)		-		-		-		-
Other equity securities		-		(1)		-		(7)		22		-		14		(2)
Mortgage and other loans receivable		6		-		-		5		-		-		11		-
Other invested assets		5,650		435		(789)		(530)		117		(229)		4,654		-
Total	$	44,263	$	2,405	$	(1,855)	$	(2,345)	$	2,422	$	(2,548)	$	42,342	$	(129)
Liabilities:
Policyholder contract deposits	$	(1,509)	$	(315)	$	-	$	(465)	$	-	$	-	$	(2,289)	$	64
Derivative liabilities, net:
Interest rate contracts		(74)		-		-		24		-		-		(50)		(1)
Foreign exchange contracts		(8)		1		-		-		-		-		(7)		1
Equity contracts		47		2		-		5		-		-		54		(3)
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		(978)		186		-		287		-		-		(505)		95
Other contracts		(59)		79		-		(68)		-		-		(48)		76
Total derivative liabilities, net^(a)		(1,072)		268		-		248		-		-		(556)		168
Long-term debt^(b)		(213)		10		-		20		-		-		(183)		17
Total	$	(2,794)	$	(37)	$	-	$	(197)	$	-	$	-	$	(3,028)	$	249

				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 Year		in Income		Income (Loss)		Settlements, Net		In		Out		of Year		at End of Year
December 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions^(c)	$	1,080	$	-	$	233	$	914	$	119	$	(187)	$	2,159	$	-
Non-U.S. governments		16		1		(1)		9		8		(3)		30		-
Corporate debt		1,255		12		19		(257)		1,363		(509)		1,883		-
RMBS		14,941		1,012		53		796		120		(117)		16,805		-
CMBS		5,735		69		243		85		83		(3,519)		2,696		-
CDO/ABS		6,974		86		(38)		1,545		2,488		(4,945)		6,110		-
Total bonds available for sale		30,001		1,180		509		3,092		4,181		(9,280)		29,683		-
Other bond securities:
Corporate debt		-		-		-		-		-		-		-		-
RMBS		937		40		-		97		51		(20)		1,105		(13)
CMBS		844		(6)		-		(141)		124		(452)		369		(7)
CDO/ABS		8,834		1,098		-		(1,805)		271		(949)		7,449		318
Total other bond securities		10,615		1,132		-		(1,849)		446		(1,421)		8,923		298
Equity securities available for sale:
Common stock		1		-		-		(1)		2		(1)		1		-
Preferred stock		-		-		-		-		-		-		-		-
Mutual funds		-		-		-		-		1		(1)		-		-
Total equity securities available for sale		1		-		-		(1)		3		(2)		1		-
Mortgage and other loans receivable		-		-		-		6		-		-		6		-
Other invested assets		5,930		150		398		(83)		167		(912)		5,650		-
Total	$	46,547	$	2,462	$	907	$	1,165	$	4,797	$	(11,615)	$	44,263	$	298
Liabilities:
Policyholder contract deposits	$	(312)	$	(1,127)	$	(54)	$	(16)	$	-	$	-	$	(1,509)	$	(218)
Derivative liabilities, net:
Interest rate contracts		(100)		(10)		-		39		-		(3)		(74)		(10)
Foreign exchange contracts		-		2		-		(10)		-		-		(8)		3
Equity contracts		49		21		-		(18)		48		(53)		47		13
Commodity contracts		1		(1)		-		-		-		-		-		(1)
Credit contracts		(1,280)		263		-		39		-		-		(978)		268
Other contracts		(109)		99		53		(103)		1		-		(59)		82
Total derivatives liabilities, net^(a)		(1,439)		374		53		(53)		49		(56)		(1,072)		355
Long-term debt^(b)		(370)		94		-		37		(70)		96		(213)		15
Total	$	(2,121)	$	(659)	$	(1)	$	(32)	$	(21)	$	40	$	(2,794)	$	152

(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 included in income related to Level 3 assets and liabilities shown above are reported in the Consolidated Statements of Income as follows:

		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	Gains (Losses)			Income		Total
December 31, 2015
Bonds available for sale	$	1,227	$	(49)	$	116	$	1,294
Other bond securities		44		3		628		675
Equity securities available for sale		-		2		-		2
Other equity securities		-		-		(1)		(1)
Other invested assets		45		324		66		435
Policyholder contract deposits		-		(315)		-		(315)
Derivative liabilities, net		-		(1)		269		268
Long-term debt		-		-		10		10
December 31, 2014
Bonds available for sale	$	1,236	$	(107)	$	51	$	1,180
Other bond securities		95		-		1,037		1,132
Equity securities available for sale		-		-		-		-
Other invested assets		175		(28)		3		150
Policyholder contract deposits		-		(1,127)		-		(1,127)
Derivative liabilities, net		68		8		298		374
Long-term debt		-		-		94		94

The following table presents the gross components of purchases, sales, issues and settlements, net, shown above:

								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
December 31, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	279	$	(37)	$	(88)	$	154
Non-U.S. governments		18		(1)		(7)		10
Corporate debt		221		(60)		(371)		(210)
RMBS		2,215		(194)		(2,829)		(808)
CMBS		273		(28)		(127)		118
CDO/ABS		1,400		(210)		(890)		300
Total bonds available for sale		4,406		(530)		(4,312)		(436)
Other bond securities:
Corporate debt		-		-		1		1
RMBS		655		(22)		(173)		460
CMBS		-		(79)		(98)		(177)
CDO/ABS		242		(380)		(1,520)		(1,658)
Total other bond securities		897		(481)		(1,790)		(1,374)
Equity securities available for sale		-		(2)		(1)		(3)
Other equity securities		-		-		(7)		(7)
Mortgage and other loans receivable		5		-		-		5
Other invested assets		682		(587)		(625)		(530)
Total assets	$	5,990	$	(1,600)	$	(6,735)	$	(2,345)
Liabilities:
Policyholder contract deposits	$	-	$	(442)	$	(23)	$	(465)
Derivative liabilities, net		19		-		229		248
Long-term debt^(b)		-		-		20		20
Total liabilities	$	19	$	(442)	$	226	$	(197)
December 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions^(c)	$	1,041	$	(35)	$	(92)	$	914
Non-U.S. governments		12		-		(3)		9
Corporate debt		148		(8)		(397)		(257)
RMBS		3,301		(124)		(2,381)		796
CMBS		368		(224)		(59)		85
CDO/ABS		2,760		(70)		(1,145)		1,545
Total bonds available for sale		7,630		(461)		(4,077)		3,092
Other bond securities:
Corporate debt		-		-		-		-
RMBS		211		(31)		(83)		97
CMBS		-		(16)		(125)		(141)
CDO/ABS		55		(21)		(1,839)		(1,805)
Total other bond securities		266		(68)		(2,047)		(1,849)
Equity securities available for sale		-		-		(1)		(1)
Mortgage and other loans receivable		6		-		-		6
Other invested assets		776		(25)		(834)		(83)
Total assets	$	8,678	$	(554)	$	(6,959)	$	1,165
Liabilities:
Policyholder contract deposits	$	-	$	(149)	$	133	$	(16)
Derivative liabilities, net		2		(3)		(52)		(53)
Long-term debt^(b)		-		-		37		37
Total liabilities	$	2	$	(152)	$	118	$	(32)

(a) There were no issuances during the years ended December 31, 2015 and 2014.

(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 December 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 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. The Net realized and unrealized gains (losses) included in income (loss) or Other comprehensive income (loss) and as shown in the table above excludes $2 million of net losses and $22 million of net gains related to assets and liabilities transferred into Level 3 during 2015 and 2014, respectively, and includes $36 million of net losses and $62 million of net gains related to assets and liabilities transferred out of Level 3 during 2015 and 2014, respectively.

Transfers of Level 3 Assets

During the years ended December 31, 2015 and 2014, transfers into Level 3 assets primarily included certain investments in private placement corporate debt, RMBS, CMBS, CDO/ABS, and investments in hedge funds. Transfers of private placement corporate debt and certain ABS into Level 3 assets were primarily the result of limited market pricing information that required us to determine fair value for these securities based on inputs that are adjusted to better reflect our own assumptions regarding the characteristics of a specific security or associated market liquidity. The transfers of investments in RMBS, CMBS and CDO and certain ABS into Level 3 assets were due to decreases in market transparency and liquidity for individual security types. Certain investments in hedge funds were transferred into Level 3 due to these investments now being carried at fair value and no longer being accounted for using the equity method of accounting due to a change in percentage ownership, or as a result of limited market activity due to fund-imposed redemption restrictions.

During the years ended December 31, 2015 and 2014, transfers out of Level 3 assets primarily included CMBS, CDO/ABS, RMBS, certain investments in municipal securities, private placement and other corporate debt, and investments in hedge funds. Transfers of certain investments in municipal securities, corporate debt, RMBS, CMBS and CDO/ABS out of Level 3 assets were based on consideration of market liquidity as well as related transparency of pricing and associated observable inputs for these investments. Transfers of certain investments in private placement corporate debt and certain ABS out of Level 3 assets were primarily the result of using observable pricing information that reflects the fair value of those securities without the need for adjustment based on our own assumptions regarding the characteristics of a specific security or the current liquidity in the market. 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 years ended December 31, 2015 and 2014.

Quantitative Information about Level 3 Fair Value Measurements

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

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

Obligations of states,	$	1,217	Discounted cash flow	Yield	4.32% - 5.10% (4.71%)
municipalities and
political subdivisions

Corporate debt		642	Discounted cash flow	Yield	5.63% - 12.45% (9.04%)


RMBS^(a)		17,280	Discounted cash flow	Constant prepayment rate	0.99% - 8.95% (4.97%)
				Loss severity	47.21% - 79.50% (63.35%)
				Constant default rate	3.49% - 9.04% (6.26%)
				Yield	3.13% - 6.14% (4.63%)

CDO/ABS^(a)		3,338	Discounted cash flow	Yield	3.41% - 4.98% (4.19%)

CMBS		2,388	Discounted cash flow	Yield	0.00% - 17.65% (6.62%)

Liabilities:

Embedded derivatives
within Policyholder
contract deposits:

GMWB and GMAB		1,234	Discounted cash flow	Equity volatility	15.00% - 50.00%
				Base lapse rate	1.00% - 17.00%
				Dynamic lapse rate	0.20% - 25.50%
				Mortality multiplier^(c)	80.00% - 104.27%
				Utilization rate	0.00% - 70.00%
				Equity / interest-rate correlation^(d)	20.00% - 40.00%

Index Annuities		715	Discounted cash flow	Lapse rate	0.75% - 66.00%
				Mortality multiplier^(c)	50.00% - 75.00%

Indexed Life		332	Discounted cash flow	Equity volatility	13.25% to 22.00%
				Base lapse rate	2.00% to 19.00%
				Mortality rate	0.00% to 40.00%


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

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

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


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

CDO/ABS^(a)		5,282	Discounted cash flow	Yield	4.70% - 9.70% (7.10%)

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

Liabilities:

Embedded derivatives
within Policyholder
contract deposits:

GMWB and GMAB		957	Discounted cash flow	Equity volatility	6.00% - 39.00%
				Base lapse rate	1.00% - 28.00%
				Dynamic lapse rate	0.20% - 42.00%
				Mortality rate	0.10% - 35.00%
				Utilization rate	0.50% - 30.00%

Index Annuities		294	Discounted cash flow	Lapse rate	0.75% - 66.00%
				Mortality rate	0.02% - 44.06%

Indexed Life		259	Discounted cash flow	Equity volatility	10.00% to 25.00%
				Base lapse rate	2.00% to 19.00%
				Mortality rate	0.00% to 20.00%
Derivative liabilities -
credit contracts^(e)		791	BET	Recovery rate	5.00% - 23.00% (13.00%)
				Diversity score	8 - 25 (13)
				Weighted average life	2.67 - 10.49 years (4.65 years)

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

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

(c) Mortality inputs are shown as multipliers of the 2012 Individual Annuity Mortality Basic table for GMWB and GMAB, and the 1975-1980 Modified Basic Table for index annuities.

(d) An equity / interest rate correlation factor was added to the valuation model in the fourth quarter of 2015.

(e) Beginning in the third quarter of 2015, we began valuing these instruments using prices obtained from vendors and/or counterparties and discontinued use of the BET model.

The ranges of reported inputs for Obligations of states, municipalities and political subdivisions, Corporate debt, RMBS, CDO/ABS, and CMBS valued using a discounted cash flow technique consist of one standard deviation in either direction from the value-weighted average. The preceding table does not give effect to our risk management practices that might offset risks inherent in these Level 3 assets and liabilities.

Sensitivity to Changes in Unobservable Inputs

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

Embedded derivatives within Policyholder contract deposits

Embedded derivatives reported within Policyholder contract deposits include guaranteed minimum withdrawal benefits (GMWB) and guaranteed minimum accumulation benefits (GMAB) within variable annuity products, and certain enhancements to interest crediting rates based on market indices within index annuities, indexed life and guaranteed investment contracts (GICs). For any given contract, assumptions for unobservable inputs vary throughout the period over which cash flows are projected for purposes of valuing the embedded derivative. The following unobservable inputs are used for valuing embedded derivatives measured at fair value:

Long-term equity volatilities represent equity volatility beyond the period for which observable equity volatilities are available. Increases in assumed volatility will generally increase the fair value of both the projected cash flows from rider fees as well as the projected cash flows related to benefit payments. Therefore, the net change in the fair value of the liability may either decrease or increase, depending on the relative changes in projected rider fees and projected benefit payments. In 2015, the calculations used to measure equity volatilities for the GMWB and GMAB were updated to provide greater emphasis on current expected market-based volatilities versus historical market volatilities. The implementation of this change reduced the fair value of the GMWB and GMAB liabilities, net of related adjustments to DAC, by approximately $143 million at December 31, 2015, which was more than offset by the addition of an equity / interest rate correlation factor to the valuation model in 2015, as described below. Long-term equity volatility and equity / interest rate correlation are both key inputs in our economic scenario modeling used to value the embedded derivatives.

Equity / interest rate correlation estimates the relationship between changes in equity returns and interest rates in the economic scenario generator used to value our GMWB and GMAB embedded derivatives. In general, a higher positive correlation assumes that equity markets and interest rates move in a more correlated fashion, which generally increases the fair value of the liability. Prior to 2015, an assumption of zero correlation was used based on historical data that was mixed as to the direction of this correlation over a long period of time. In 2015, we added a positive correlation factor based on current market conditions and expected views of market participants. This change increased the GMWB and GMAB fair value liabilities, net of related adjustments to DAC, by approximately $155 million at December 31, 2015, which was largely offset by an update to equity volatility assumptions, as described above.
Base lapse rate assumptions are determined by company experience and are adjusted at the contract level using a dynamic lapse function, which reduces the base lapse rate when the contract is in-the-money (when the contract holder’s guaranteed value is worth more than their underlying account value). Lapse rates are also generally assumed to be lower in periods when a surrender charge applies. Increases in assumed lapse rates will generally decrease the fair value of the liability, as fewer policyholders would persist to collect guaranteed withdrawal amounts, but in certain scenarios, increases in assumed lapse rates may increase the fair value of the liability.
Mortality rate assumptions, which vary by age and gender, are based on company experience and include a mortality improvement assumption. Increases in assumed mortality rates will decrease the fair value of the liability, while lower mortality rate assumptions will generally increase the fair value of the liability, because guaranteed payments will be made for a longer period of time.
Utilization rate assumptions estimate the timing when policyholders with a GMWB will elect to utilize their benefit and begin taking withdrawals. The assumptions may vary by the type of guarantee, tax-qualified status, the contract’s withdrawal history and the age of the policyholder. Utilization rate assumptions are based on company experience, which includes partial withdrawal behavior. Increases in assumed utilization rates will generally increase 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, hedge funds and other alternative investments that calculate net asset value per share (or its equivalent). For these investments, which are measured at fair value on a recurring basis, we use the net asset value per share to measure fair value.

		December 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	$	1,774	$	436	$	2,275	$	450

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		306		213		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		107		41		121		26

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		146		41		164		43

Other	Includes multi-strategy, mezzanine, and other strategies		298		239		216		234
Total private equity funds			2,631		970		3,160		980
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		1,194		-		1,109		-

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		2,978		25		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		555		-		498		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		699		8		731		5

Emerging markets	Investments in the financial markets of developing countries		353		-		308		-

Other	Includes multi-strategy, relative value, and other strategies		167		-		125		-
Total hedge funds			5,946		33		5,199		6
Total		$	8,577	$	1,003	$	8,359	$	986

Private equity fund investments included above are not redeemable, because 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 December 31, 2015, assuming average original expected lives of 10 years for the funds, 78 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, 6 percent between four and six years and 16 percent between seven and 10 years.

The hedge fund investments included above are generally redeemable monthly (14 percent), quarterly (47 percent), semi-annually (14 percent) and annually (25 percent), with redemption notices ranging from one day to 180 days. At December 31, 2015, however, investments representing approximately 46 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

Under the fair value option, we may elect to measure at fair value financial assets and financial liabilities that are not otherwise required to be carried at fair value. Subsequent changes in fair value for designated items are reported in earnings. We elect the fair value option for certain hybrid securities given the complexity of bifurcating the economic components associated with the embedded derivatives. Refer to Note 10 for additional information related to embedded derivatives.

Additionally, we elect the fair value option for certain alternative investments when such investments are eligible for this election. We believe this measurement basis is consistent with the applicable accounting guidance used by the respective investment company funds themselves. Refer to Note 5 herein for additional information.

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

Years Ended December 31,	Gain (Loss)
(in millions)		2015		2014		2013
Assets:
Mortgage and other loans receivable	$	-	$	-	$	3
Bond and equity securities		616		2,099		1,667
Alternative investments^(a)		36		313		360
Other, including Short-term investments		2		10		11
Liabilities:
Long-term debt^(b)		(38)		(269)		327
Other liabilities		(3)		(13)		(15)
Total gain	$	613	$	2,140	$	2,353

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

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

Interest income and dividend income on assets measured under the fair value option are recognized and included in Net investment income in the Consolidated Statements of Income with the exception of activity within AIG’s Corporate and Other category, which is included in Other income. Interest expense on liabilities measured under the fair value option is reported in Other Income in the Consolidated Statements of Income. See Note 5 herein for additional information about our policies for recognition, measurement, and disclosure of interest and dividend income.

During 2015, 2014 and 2013, we recognized losses of $4 million, $32 million and $54 million, 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 borrowings for which the fair value option was elected:

	December 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	$	11	$	9	$	2	$	6	$	4	$	2
Liabilities:
Long-term debt^*	$	3,670	$	2,675	$	995	$	5,466	$	4,101	$	1,365

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

There were no mortgage or other loans receivable for which the fair value option was elected that were 90 days or more past due or in non-accrual status at December 31, 2015 or 2014.

FAIR VALUE MEASUREMENTS ON A NON-RECURRING BASIS

We measure the fair value of certain assets on a non-recurring basis, generally quarterly, annually or when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. These assets include cost and equity-method investments, commercial mortgage loans, investments in life settlements, investments in real estate and other fixed assets, goodwill and other intangible assets. See Notes 5 and 6 herein for additional information about how we test various asset classes for impairment.

Information regarding the estimation of fair value for financial instruments measured at fair value on a non-recurring basis is discussed below:

Impairments for Other investments primarily relate to certain investments in affordable housing partnerships, the fair values of which are determined based on remaining tax credits and other residual benefits due from the respective partnerships. Residual benefits include consideration of the fair value of underlying real estate properties, which is determined based on market-appropriate capitalization rates applied to net operating income of the properties. Impairments for Other investments also relate to certain investments in aircraft, the fair values of which are determined based on third party independent appraisals that use industry specific appraisal standards and methodologies.
Impairments of Investments in Life Settlements are measured using their fair values as determined using a discounted cash flow methodology that incorporates the best available market assumptions for mortality as well as market yields based on reported transactions. Effective December 31, 2015, AIG adopted the Society of Actuaries 2015 Valuation Basic Table (VBT) as the market mortality assumption used to measure fair value of impaired policies.

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							December 31,
(in millions)		Level 1		Level 2		Level 3		Total		2015		2014		2013
December 31, 2015
Other investments	$	-	$	-	$	1,117	$	1,117	$	189	$	134	$	112
Investments in life settlements		-		-		828		828		540		201		971
Other assets		-		-		129		129		80		7		31
Total	$	-	$	-	$	2,074	$	2,074	$	809	$	342	$	1,114
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

Information regarding the estimation of fair value for financial instruments not carried at fair value (excluding insurance contracts and lease contracts) is discussed below:

Mortgage and other loans receivable: Fair values of loans on commercial real estate and other loans receivable are estimated for disclosure purposes using discounted cash flow calculations based on discount rates that we believe market participants would use in determining the price that they would pay for such assets. For certain loans, our current incremental lending rates for similar types of loans are used as the discount rates, because we believe this rate approximates the rates market participants would use. Fair values of residential mortgage loans are generally determined based on market prices, using market based adjustments for credit and servicing as appropriate. The fair values of policy loans are generally estimated based on unpaid principal amount as of each reporting date. No consideration is given to credit risk because policy loans are effectively collateralized by the cash surrender value of the policies.
Other invested assets: The majority of Other invested assets that are not measured at fair value represent investments in life settlements. The fair value of investments in life settlements is determined using a discounted cash flow methodology that incorporates the best available market assumptions for longevity as well as market yields based on reported transactions. Due to the individual life nature of each investment in life settlements and the illiquidity of the existing market, significant inputs to the fair value are unobservable.
Cash and short-term investments: The carrying amounts of these assets approximate fair values because of the relatively short period of time between origination and expected realization, and their limited exposure to credit risk.
Policyholder contract deposits associated with investment-type contracts: Fair values for policyholder contract deposits associated with investment-type contracts not accounted for at fair value are estimated using discounted cash flow calculations based on interest rates currently being offered for similar contracts with maturities consistent with those of the contracts being valued. When no similar contracts are being offered, the discount rate is the appropriate swap rate (if available) or current risk-free interest rate consistent with the currency in which the cash flows are denominated. To determine fair value, other factors include current policyholder account values and related surrender charges and other assumptions include expectations about policyholder behavior and an appropriate risk margin.
Other liabilities: The majority of Other liabilities that are financial instruments not measured at fair value represent secured financing arrangements, including repurchase agreements. The carrying amounts of these liabilities approximate fair value, because the financing arrangements are short-term and are secured by cash or other liquid collateral.
Long-term debt: Fair values of these obligations were determined by reference to quoted market prices, when available and appropriate, or discounted cash flow calculations based upon our current market-observable implicit-credit-spread rates for similar types of borrowings with maturities consistent with those remaining for the debt being valued.

The following table presents the carrying amounts and estimated fair values 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
December 31, 2015
Assets:
Mortgage and other loans receivable	$	-	$	198	$	30,147	$	30,345	$	29,554
Other invested assets		-		563		2,880		3,443		4,169
Short-term investments		-		7,541		-		7,541		7,541
Cash		1,629		-		-		1,629		1,629
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		309		117,537		117,846		108,788
Other liabilities		-		2,852		-		2,852		2,852
Long-term debt		-		21,686		4,528		26,214		25,680
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

12 Months Ended

Dec. 31, 2015

INVESTMENTS

INVESTMENTS

5. INVESTMENTS

Fixed Maturity and Equity Securities

Bonds held to maturity are carried at amortized cost when we have the ability and positive intent to hold these securities until maturity. When we do not have the ability or positive intent to hold bonds until maturity, these securities are classified as available for sale or are measured at fair value at our election. None of our fixed maturity securities met the criteria for held to maturity classification at December 31, 2015 or 2014.

Fixed maturity and equity securities classified as available for sale are carried at fair value. Unrealized gains and losses from available for sale investments in fixed maturity and equity securities are reported as a separate component of Accumulated other comprehensive income, net of deferred policy acquisition costs and deferred income taxes, in shareholders’ equity. Realized and unrealized gains and losses from fixed maturity and equity securities measured at fair value at our election are reflected in Net investment income (for insurance subsidiaries) or Other income (for Corporate and Other). Investments in fixed maturity and equity securities are recorded on a trade-date basis.

Premiums and discounts arising from the purchase of bonds classified as available for sale are treated as yield adjustments over their estimated holding periods, until maturity, or call date, if applicable. For investments in certain RMBS, CMBS and CDO/ABS, (collectively, structured securities), recognized yields are updated based on current information regarding the timing and amount of expected undiscounted future cash flows. For high credit quality structured securities, effective yields are recalculated based on actual payments received and updated prepayment expectations, and the amortized cost is adjusted to the amount that would have existed had the new effective yield been applied since acquisition with a corresponding charge or credit to net investment income. For structured securities that are not high credit quality, effective yields are recalculated and adjusted prospectively based on changes in expected undiscounted future cash flows. For purchased credit impaired (PCI) securities, at acquisition, the difference between the undiscounted expected future cash flows and the recorded investment in the securities represents the initial accretable yield, which is to be accreted into net investment income over the securities’ remaining lives on a level-yield basis. Subsequently, effective yields recognized on PCI securities are recalculated and adjusted prospectively to reflect changes in the contractual benchmark interest rates on variable rate securities and any significant increases in undiscounted expected future cash flows arising due to reasons other than interest rate changes.

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)
December 31, 2015
Bonds available for sale:
U.S. government and government sponsored entities	$	1,698	$	155	$	(9)	$	1,844	$	-
Obligations of states, municipalities and political subdivisions		26,003		1,424		(104)		27,323		19
Non-U.S. governments		17,752		805		(362)		18,195		-
Corporate debt		133,513		6,462		(3,987)		135,988		(87)
Mortgage-backed, asset-backed and collateralized:
RMBS		33,878		2,760		(411)		36,227		1,326
CMBS		13,139		561		(129)		13,571		185
CDO/ABS		14,985		360		(248)		15,097		39
Total mortgage-backed, asset-backed and collateralized		62,002		3,681		(788)		64,895		1,550
Total bonds available for sale^(b)		240,968		12,527		(5,250)		248,245		1,482
Equity securities available for sale:
Common stock		913		1,504		(16)		2,401		-
Preferred stock		19		3		-		22		-
Mutual funds		447		53		(8)		492		-
Total equity securities available for sale		1,379		1,560		(24)		2,915		-
Total	$	242,347	$	14,087	$	(5,274)	$	251,160	$	1,482
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 fair value of such securities subsequent to the impairment measurement date.

(b) At December 31, 2015 and 2014, bonds available for sale held by us that were below investment grade or not rated totaled $34.9 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
December 31, 2015
Bonds available for sale:
U.S. government and government sponsored entities	$	483	$	9	$	1	$	-	$	484	$	9
Obligations of states, municipalities and political
subdivisions		2,382		87		268		17		2,650		104
Non-U.S. governments		4,327		203		832		159		5,159		362
Corporate debt		41,317		2,514		5,428		1,473		46,745		3,987
RMBS		7,215		133		4,318		278		11,533		411
CMBS		4,138		108		573		21		4,711		129
CDO/ABS		7,064		104		2,175		144		9,239		248
Total bonds available for sale		66,926		3,158		13,595		2,092		80,521		5,250
Equity securities available for sale:
Common stock		91		16		-		-		91		16
Mutual funds		200		8		-		-		200		8
Total equity securities available for sale		291		24		-		-		291		24
Total	$	67,217	$	3,182	$	13,595	$	2,092	$	80,812	$	5,274
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 December 31, 2015, we held 14,972 and 174 individual fixed maturity and equity securities, respectively, that were in an unrealized loss position, of which 2,176 individual fixed maturity securities were in a continuous unrealized loss position for 12 months or more. We did not recognize the unrealized losses in earnings on these fixed maturity securities at December 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 Available
December 31, 2015	Available for Sale				for Sale in a Loss Position
(in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	9,176	$	9,277	$	1,122	$	1,103
Due after one year through five years		47,230		49,196		9,847		9,494
Due after five years through ten years		54,120		54,459		22,296		20,686
Due after ten years		68,440		70,418		26,235		23,755
Mortgage-backed, asset-backed and collateralized		62,002		64,895		26,271		25,483
Total	$	240,968	$	248,245	$	85,771	$	80,521
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:

	Years Ended December 31,
		2015				2014				2013
		Gross		Gross		Gross		Gross	Gross		Gross
	Realized		Realized		Realized		Realized		Realized		Realized
(in millions)		Gains		Losses		Gains		Losses	Gains		Losses
Fixed maturity securities	$	517	$	423	$	703	$	118	$	2,634	$	202
Equity securities		1,060		28		135		24		130		19
Total	$	1,577	$	451	$	838	$	142	$	2,764	$	221

For the years ended December 31, 2015, 2014 and 2013, the aggregate fair value of available for sale securities sold was $28.7 billion, $25.3 billion and $35.9 billion, which resulted in net realized capital gains of $1.1 billion, $0.7 billion and $2.5 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:

		December 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	$	3,369	19	%	$	5,498	27	%
Obligations of states, municipalities and political subdivisions		75	-			122	1
Non-U.S. governments		50	-			2	-
Corporate debt		2,035	12			719	3
Mortgage-backed, asset-backed and collateralized:
RMBS		2,230	13			2,094	10
CMBS		750	4			1,077	5
CDO/ABS and other collateralized^*		8,273	47			10,200	49
Total mortgage-backed, asset-backed and collateralized		11,253	64			13,371	64
Total fixed maturity securities		16,782	95			19,712	95
Equity securities		921	5			1,049	5
Total	$	17,703	100	%	$	20,761	100	%

* Includes $712 million and $859 million of U.S. Government agency backed ABS at December 31, 2015 and 2014, respectively.

Other Invested Assets

The following table summarizes the carrying amounts of other invested assets:

December 31,
(in millions)		2015		2014
Alternative investments^(a)	$	18,150	$	19,656
Investment real estate^(b)		6,579		3,612
Aircraft asset investments^(c)		477		651
Investments in life settlements		3,606		3,753
Investment in AerCap		-		4,972
All other investments		982		1,874
Total	$	29,794	$	34,518

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

(b) Net of accumulated depreciation of $668 million and $315 million in 2015 and 2014, respectively.

Other Invested Assets Carried at Fair Value

Certain hedge funds, private equity funds, affordable housing partnerships and other investment partnerships for which we have elected the fair value option are reported at fair value with changes in fair value recognized in Net investment income with the exception of investments of AIG’s Corporate and Other category, for which such changes are reported in Other income. Other investments in hedge funds, private equity funds, affordable housing partnerships and other investment partnerships in which our insurance operations do not hold aggregate interests sufficient to exercise more than minor influence over the respective partnerships are reported at fair value with changes in fair value recognized as a component of Accumulated other comprehensive income. These investments are subject to other-than-temporary impairment evaluations (see discussion below on evaluating equity investments for other-than-temporary impairment). The gross unrealized loss recorded in Other comprehensive income on such investments was $33 million and $56 million at December 31, 2015 and 2014, respectively, the majority of which pertains to investments in private equity funds and hedge funds that have been in continuous unrealized loss positions for less than 12 months.

Other Invested Assets – Equity Method Investments

We account for hedge funds, private equity funds, affordable housing partnerships and other investment partnerships using the equity method of accounting unless our interest is so minor that we may have virtually no influence over partnership operating and financial policies, or we have elected the fair value option. Under the equity method of accounting, our carrying amount generally is our share of the net asset value of the funds or the partnerships, and changes in our share of the net asset values are recorded in Net investment income with the exception of investments of AIG’s Corporate and Other category, for which such changes are reported in Other income. In applying the equity method of accounting, we consistently use the most recently available financial information provided by the general partner or manager of each of these investments, which is one to three months prior to the end of our reporting period. The financial statements of these investees are generally audited annually.

Summarized Financial Information of Equity Method Investees

The following is the aggregated summarized financial information of our equity method investees, including those for which the fair value option has been elected:

Years Ended December 31,
(in millions)		2015		2014		2013
Operating results:
Total revenues	$	22,055	$	29,579	$	19,181
Total expenses		(3,898)		(7,828)		(5,515)
Net income	$	18,157	$	21,751	$	13,666
At December 31,
(in millions)				2015		2014
Balance sheet:
Total assets			$	201,007	$	207,994
Total liabilities			$	(33,424)	$	(67,346)

The following table presents the carrying amount and ownership percentage of equity method investments at December 31, 2015 and 2014:

		2015			2014
		Carrying	Ownership		Carrying	Ownership
(in millions, except percentages)		Value	Percentage		Value	Percentage
Equity method investments	$	14,259	Various	$	18,951	Various

Summarized financial information for these equity method investees may be presented on a lag, due to the unavailability of information for the investees at our respective balance sheet dates, and is included for the periods in which we held an equity method ownership interest.

Other Investments

Also included in Other invested assets are real estate held for investment and investments in aircraft equipment held in consolidated trusts. These investments are reported at cost, less depreciation and are subject to impairment review, as discussed below.

Investments in Life Settlements

Investments in life settlements are accounted for under the investment method. Under the investment method, we recognize our initial investment in life settlements at the transaction price plus all initial direct external costs. Continuing costs to keep the policy in force, primarily life insurance premiums, increase the carrying amount of the investment. We recognize income on individual investments in life settlements when the insured dies, at an amount equal to the excess of the investment proceeds over the carrying amount of the investment at that time. These investments are subject to impairment review, as discussed below.

During 2015, 2014 and 2013, income recognized on investments in life settlements was $332 million, $407 million and $334 million, respectively, and is included in Net investment income in the Consolidated Statements of Income.

The following table presents further information regarding investments in life settlements:

	December 31, 2015
	Number of		Carrying	Face Value
(dollars in millions)	Contracts		Value	(Death Benefits)
Remaining Life Expectancy of Insureds:
0 – 1 year	1	$	-	$	-
1 – 2 years	9		9		17
2 – 3 years	16		10		20
3 – 4 years	72		50		113
4 – 5 years	156		235		485
Thereafter	4,300		3,302		14,233
Total	4,554	$	3,606	$	14,868

Remaining life expectancy for year 0-1 references policies whose current life expectancy is less than 12 months as of the valuation date. Remaining life expectancy is not an indication of expected maturity. Actual maturity dates in any category may vary significantly (either earlier or later) from the remaining life expectancies reported above.

At December 31, 2015, management’s best estimate of the life insurance premiums required to keep the investments in life settlements in force, payable in the 12 months ending December 31, 2016 and the four succeeding years ending December 31, 2020 are $530 million, $553 million, $579 million, $598 million and $607 million, respectively.

Net Investment Income

Net investment income represents income primarily from the following sources:

Interest income and related expenses, including amortization of premiums and accretion of discounts with changes in the timing and the amount of expected principal and interest cash flows reflected in yield, as applicable.
Dividend income from common and preferred stocks and earnings distributions from other investments.
Realized and unrealized gains and losses from investments in other securities and investments for which we elected the fair value option.
Earnings from alternative investments.
The difference between the carrying amount of an investment in life settlements and the life insurance proceeds of the underlying life insurance policy recorded in income upon the death of the insured.

The following table presents the components of Net investment income:

Years Ended December 31,
(in millions)		2015		2014		2013
Fixed maturity securities, including short-term investments	$	11,332	$	12,322	$	12,044
Equity securities		99		221		178
Interest on mortgage and other loans		1,417		1,272		1,144
Alternative investments^*		1,476		2,624		2,803
Real estate		181		110		128
Other investments		76		47		61
Total investment income		14,581		16,596		16,358
Investment expenses		528		517		548
Net investment income	$	14,053	$	16,079	$	15,810

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

Net Realized Capital Gains and Losses

Net realized capital gains and losses are determined by specific identification. The net realized capital gains and losses are generated primarily from the following sources:

Sales or full redemptions of available for sale fixed maturity securities, available for sale equity securities, real estate and other alternative investments.
Reductions to the cost basis of available for sale fixed maturity securities, available for sale equity securities and certain other invested assets for other-than-temporary impairments.
Impairments on investments in life settlements.
Changes in fair value of derivatives except for (1) those derivatives at AIGFP and (2) those instruments that are designated as hedging instruments when the change in the fair value of the hedged item is not reported in Net realized capital gains (losses).
Exchange gains and losses resulting from foreign currency transactions.

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

Years Ended December 31,
(in millions)		2015			2014		2013
Sales of fixed maturity securities	$	94		$	585	$	2,432
Sales of equity securities^(a)		1,032			111		111
Other-than-temporary impairments:
Severity		(13)			(3)		(6)
Change in intent		(233)			(40)		(48)
Foreign currency declines		(57)			(19)		(1)
Issuer-specific credit events		(348)			(169)		(170)
Adverse projected cash flows		(20)			(16)		(7)
Provision for loan losses		(58)			(1)		(26)
Foreign exchange transactions		416			598		151
Derivative instruments		341			(177)		287
Impairments on investments in life settlements		(540)			(201)		(971)
Other		162	^(b)		71		187
Net realized capital gains	$	776		$	739	$	1,939

(a) Includes realized gains on the sale of our equity interests in PICC.

(b) Includes realized gains due to the sale of Class B shares of Prudential Financial, Inc. and common shares of Springleaf Holdings, Inc. and realized losses on the sale of ordinary shares of AerCap.

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:

	Years Ended
	December 31,
(in millions)		2015		2014
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	(9,275)	$	6,809
Equity securities		(929)		535
Other investments		(803)		376
Total increase (decrease) in unrealized appreciation (depreciation) of investments	$	(11,007)	$	7,720

Evaluating Investments for Other-Than-Temporary Impairments

Fixed Maturity Securities

If we intend to sell a fixed maturity security or it is more likely than not that we will be required to sell a fixed maturity security before recovery of its amortized cost basis and the fair value of the security is below amortized cost, an other-than-temporary impairment has occurred and the amortized cost is written down to current fair value, with a corresponding charge to realized capital losses. When assessing our intent to sell a fixed maturity security, or whether it is more likely than not that we will be required to sell a fixed maturity security before recovery of its amortized cost basis, management evaluates relevant facts and circumstances including, but not limited to, decisions to reposition our investment portfolio, sales of securities to meet cash flow needs and sales of securities to take advantage of favorable pricing.

For fixed maturity securities for which a credit impairment has occurred, the amortized cost is written down to the estimated recoverable value with a corresponding charge to realized capital losses. The estimated recoverable value is the present value of cash flows expected to be collected, as determined by management. The difference between fair value and amortized cost that is not related to a credit impairment is presented in unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were recognized (a separate component of accumulated other comprehensive income).

When estimating future cash flows for structured fixed maturity securities (e.g., RMBS, CMBS, CDO, ABS) management considers historical performance of underlying assets and available market information as well as bond-specific structural considerations, such as credit enhancement and priority of payment structure of the security. In addition, the process of estimating future cash flows includes, but is not limited to, the following critical inputs, which vary by asset class:

Current delinquency rates;
Expected default rates and the timing of such defaults;
Loss severity and the timing of any recovery; and
Expected prepayment speeds.

For corporate, municipal and sovereign fixed maturity securities determined to be credit impaired, management considers the fair value as the recoverable value when available information does not indicate that another value is more relevant or reliable. When management identifies information that supports a recoverable value other than the fair value, the determination of a recoverable value considers scenarios specific to the issuer and the security, and may be based upon estimates of outcomes of corporate restructurings, political and macroeconomic factors, stability and financial strength of the issuer, the value of any secondary sources of repayment and the disposition of assets.

We consider severe price declines in our assessment of potential credit impairments. We may also modify our model inputs when we determine that price movements in certain sectors are indicative of factors not captured by the cash flow models.

In periods subsequent to the recognition of an other-than-temporary impairment charge for available for sale fixed maturity securities that is not foreign exchange related, we prospectively accrete into earnings the difference between the new amortized cost and the expected undiscounted recoverable value over the remaining expected holding period of the security.

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:

Years Ended December 31,
(in millions)		2015		2014		2013
Balance, beginning of year	$	2,659	$	3,872	$	5,164
Increases due to:
Credit impairments on new securities subject to impairment losses		111		49		47
Additional credit impairments on previously impaired securities		109		85		78
Reductions due to:
Credit impaired securities fully disposed for which there was no
prior intent or requirement to sell		(399)		(613)		(643)
Credit impaired securities for which there is a current intent or
anticipated requirement to sell		2		-		-
Accretion on securities previously impaired due to credit^*		(735)		(725)		(774)
Other		-		(9)		-
Balance, end of year	$	1,747	$	2,659	$	3,872

* 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.

Equity Securities

We evaluate our available for sale equity securities for impairment by considering such securities as candidates for other-than-temporary impairment if they meet any of the following criteria:

The security has traded at a significant (25 percent or more) discount to cost for an extended period of time (nine consecutive months or longer);
A discrete credit event has occurred resulting in (i) the issuer defaulting on a material outstanding obligation; (ii) the issuer seeking protection from creditors under the bankruptcy laws or any similar laws intended for court-supervised reorganization of insolvent enterprises; or (iii) the issuer proposing a voluntary reorganization pursuant to which creditors are asked to exchange their claims for cash or securities having a fair value substantially lower than the par value of their claims; or
We have concluded that we may not realize a full recovery on our investment, regardless of the occurrence of one of the foregoing events.

The determination that an equity security is other-than-temporarily impaired requires the judgment of management and consideration of the fundamental condition of the issuer, its near-term prospects and all the relevant facts and circumstances. In addition to the above criteria, all equity securities that have been in a continuous decline in value below cost over twelve months are impaired. We also consider circumstances of a rapid and severe market valuation decline (50 percent or more) discount to cost, in which we could not reasonably assert that the impairment period would be temporary (severity losses).

Other Invested Assets

Our equity and cost method investments in private equity funds, hedge funds and other entities are evaluated for impairment similar to the evaluation of equity securities for impairments as discussed above. Such evaluation considers market conditions, events and volatility that may impact the recoverability of the underlying investments within these private equity funds and hedge funds and is based on the nature of the underlying investments and specific inherent risks. Such risks may evolve based on the nature of the underlying investments.

Our investments in life settlements are monitored for impairment on a contract-by-contract basis quarterly. An investment in life settlements is considered impaired if the undiscounted cash flows resulting from the expected proceeds would not be sufficient to recover our estimated future carrying amount, which is the current carrying amount for the investment in life settlements plus anticipated undiscounted future premiums and other capitalizable future costs, if any. Impaired investments in life settlements are written down to their estimated fair value which is determined on a discounted cash flow basis, incorporating current market mortality assumptions and market yields.

In general, fair value estimates for the investments in life settlements are calculated using cash flows based on medical underwriting ratings of the policies from a third-party underwriter, applied to an industry mortality table. Our mortality assumptions are based on an industry table as supplemented with proprietary data on the older age mortality of U.S. insured lives. Mortality improvement factors are applied to these assumptions based on our view of future mortality improvements likely to apply to the U.S. insured lives population. Our mortality assumptions coupled with the mortality improvement rates are used in our estimate of future net cash flows from the investments in life settlements.

Our investments in aircraft assets and real estate are periodically evaluated for recoverability whenever changes in circumstances indicate the carrying amount of an asset may be impaired. When impairment indicators are present, we compare expected investment cash flows to carrying amount. When the expected cash flows are less than the carrying amount, the investments are written down to fair value with a corresponding charge to earnings.

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)	$	33,191
Cash flows expected to be collected^*		26,882
Recorded investment in acquired securities		17,955

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

		December 31,		December 31,
(in millions)		2015		2014
Outstanding principal balance	$	16,871	$	16,962
Amortized cost		12,303		12,216
Fair value		13,164		13,462

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

Years Ended December 31,
(in millions)		2015		2014
Balance, beginning of year	$	6,865	$	6,940
Newly purchased PCI securities		696		1,289
Disposals		(13)		-
Accretion		(879)		(880)
Effect of changes in interest rate indices		(251)		(542)
Net reclassification from (to) non-accretable difference,
including effects of prepayments		428		58
Balance, end of year	$	6,846	$	6,865

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. At December 31, 2015, our secured financing transactions also include those that involve the transfer of securities to financial institutions in exchange for cash (securities lending agreements). In all of these secured financing transactions, the securities transferred by us (pledged collateral) may be sold or repledged by the counterparties. These agreements are recorded at their contracted amounts plus accrued interest, other than those that are accounted for at fair value.

Pledged collateral levels are monitored daily and are generally maintained at an agreed-upon percentage of the fair value of the amounts borrowed during the life of the transactions. In the event of a decline in the fair value of the pledged collateral under these secured financing transactions, we may be required to transfer cash or additional securities as pledged collateral under these agreements. At the termination of the transactions, we and our counterparties are obligated to return the amounts borrowed and the securities transferred, respectively.

The following table presents the fair value of securities pledged to counterparties under secured financing transactions, including repurchase and securities lending agreements:

(in millions)		December 31, 2015		December 31, 2014
Fixed maturity securities available for sale	$	1,145	$	-
Other bond securities, at fair value		1,740		2,122

At December 31, 2015, amounts borrowed under repurchase and securities lending agreements totaled $2.9 billion.

At December 31, 2015, repurchase agreements with remaining contractual maturities of 91 - 364 days were collateralized by Non-U.S. government securities, at fair value, of $49 million. Repurchase agreements with remaining contractual maturities of up to 30 days, 31 - 90 days and 91 - 364 days were collateralized by Corporate debt securities, at fair value, of $33 million, $332 million and $1,326 million, respectively. Repurchase agreements with remaining contractual maturities of up to 30 days were collateralized by Non-U.S. government securities, available for sale, of $50 million.

At December 31, 2015, securities lending agreements with remaining contractual maturities of 31 - 90 days were collateralized by $914 million of Corporate debt securities and $57 million of Non-U.S. government securities, all classified as available for sale. Securities lending agreements with remaining contractual maturities of 91 - 364 days were collateralized by $124 million of RMBS, classified as available for sale.

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

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

(in millions)		December 31, 2015		December 31, 2014
Securities collateral pledged to us	$	1,742	$	2,506
Amount sold or repledged by us		-		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 $4.9 billion and $5.9 billion at December 31, 2015 and 2014, respectively.

Other Pledges and Restrictions

Certain of our subsidiaries are members of Federal Home Loan Banks (FHLBs) and such membership requires the members to own stock in these FHLBs. We owned an aggregate of $47 million and $44 million of stock in FHLBs at December 31, 2015 and 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 December 31, 2015 and 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 $2.4 billion and $3.5 billion at December 31, 2015 and 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.

At December 31, 2015, $439 million of short-term investments were held in escrow accounts or were otherwise subject to restriction as to their use.

- Definition

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

+ References + Details

LENDING ACTIVITIES

12 Months Ended

Dec. 31, 2015

LENDING ACTIVITIES

LENDING ACTIVITIES

6. LENDING ACTIVITIES

Mortgage and other loans receivable include commercial mortgages, residential mortgages, life insurance policy loans, commercial loans, and other loans and notes receivable. Commercial mortgages, residential mortgages, commercial loans, and other loans and notes receivable are carried at unpaid principal balances less allowance for credit losses and plus or minus adjustments for the accretion or amortization of discount or premium. Interest income on such loans is accrued as earned.

Direct costs of originating commercial mortgages, commercial loans, and other loans and notes receivable, net of nonrefundable points and fees, are deferred and included in the carrying amount of the related receivables. The amount deferred is amortized to income as an adjustment to earnings using the interest method. Premiums and discounts on purchased residential mortgages are also amortized to income as an adjustment to earnings using the interest method.

Life insurance policy loans are carried at unpaid principal balances. There is no allowance for policy loans because these loans serve to reduce the death benefit paid when the death claim is made and the balances are effectively collateralized by the cash surrender value of the policy.

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

	December 31,			December 31,
(in millions)		2015		2014
Commercial mortgages^*	$	22,067	$	18,909
Residential mortgages		2,758		1,007
Life insurance policy loans		2,597		2,710
Commercial loans, other loans and notes receivable		2,451		2,635
Total mortgage and other loans receivable		29,873		25,261
Allowance for credit losses		(308)		(271)
Mortgage and other loans receivable, net	$	29,565	$	24,990

* Commercial mortgages primarily represent loans for offices, retail and apartments, with exposures in New York and California representing the largest geographic concentrations (aggregating approximately 22 percent and 12 percent, respectively, at December 31, 2015, and 18 percent and 14 percent, respectively, at December 31, 2014).

Nonperforming loans are generally those loans where payment of contractual principal or interest is more than 90 days past due. Nonperforming mortgages were not significant for all periods presented.

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

	Number															Percent
December 31, 2015	of	Class														of
(dollars in millions)	Loans	Apartments			Offices		Retail	Industrial			Hotel		Others		Total^(c)	Total $
Credit Quality Indicator:
In good standing	830	$	3,916	$	7,484	$	4,809	$	1,902	$	2,082	$	1,435	$	21,628	98	%
Restructured^(a)	9		-		156		25		6		16		6		209	1
90 days or less delinquent	1		-		-		4		-		-		-		4	-
>90 days delinquent or in
process of foreclosure	9		3		205		-		6		-		12		226	1
Total^(b)	849	$	3,919	$	7,845	$	4,838	$	1,914	$	2,098	$	1,453	$	22,067	100	%
Allowance for credit losses:
Specific			-		16		1		6		1		-		24	-	%
General			35		47		29		8		15		13		147	1
Total allowance for credit losses		$	35	$	63	$	30	$	14	$	16	$	13	$	171	1	%
December 31, 2014
(dollars in millions)
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 credit losses:
Specific		$	-	$	27	$	3	$	13	$	3	$	9	$	55	-	%
General			3		59		25		9		3		5		104	1
Total allowance for credit 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. See discussion of troubled debt restructurings below.

(b) Does not reflect allowance for credit losses.

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

Methodology Used to Estimate the Allowance for Credit Losses

Mortgage and other loans receivable are considered impaired when collection of all amounts due under contractual terms is not probable. Impairment is measured using either i) the present value of expected future cash flows discounted at the loan’s effective interest rate, ii) the loan’s observable market price, if available, or iii) the fair value of the collateral if the loan is collateral dependent. Impairment of commercial mortgages is typically determined using the fair value of collateral while impairment of other loans is typically determined using the present value of cash flows or the loan’s observable market price. An allowance is typically established for the difference between the impaired value of the loan and its current carrying amount. Additional allowance amounts are established for incurred but not specifically identified impairments, based on statistical models primarily driven by past due status, debt service coverage, loan-to-value ratio, property type and location, loan term, profile of the borrower and of the major property tenants, and loan seasoning. When all or a portion of a loan is deemed uncollectible, the uncollectible portion of the carrying amount of the loan is charged off against the allowance.

Interest income is not accrued when payment of contractual principal and interest is not expected. Any cash received on impaired loans is generally recorded as a reduction of the current carrying amount of the loan. Accrual of interest income is generally resumed when delinquent contractual principal and interest is repaid or when a portion of the delinquent contractual payments are made and the ongoing required contractual payments have been made for an appropriate period.

A significant majority of commercial mortgages in the portfolio are non-recourse loans and, accordingly, the only guarantees are for specific items that are exceptions to the non-recourse provisions. It is therefore extremely rare for us to have cause to enforce the provisions of a guarantee on a commercial real estate or mortgage loan.

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

	2015						2014						2013
Years Ended December 31,		Commercial		Other				Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	159	$	112	$	271	$	201	$	111	$	312	$	159	$	246	$	405
Loans charged off		(23)		(6)		(29)		(29)		(39)		(68)		(12)		(104)		(116)
Recoveries of loans previously
charged off		4		1		5		18		16		34		3		6		9
Net charge-offs		(19)		(5)		(24)		(11)		(23)		(34)		(9)		(98)		(107)
Provision for loan losses		31		27		58		(31)		23		(8)		52		(32)		20
Other		-		3		3		-		1		1		(1)		(5)		(6)
Allowance, end of year	$	171 ^*	$	137	$	308	$	159 ^*	$	112	$	271	$	201 ^*	$	111	$	312

* Of the total allowance at the end of the year, $24 million and $55 million relates to individually assessed credit losses on $507 million and $192 million of commercial mortgages as of December 31, 2015 and 2014, respectively.

Troubled Debt Restructurings

We modify loans to optimize their returns and improve their collectability, among other things. When we undertake such a modification with a borrower that is experiencing financial difficulty and the modification involves us granting a concession to the troubled debtor, the modification is a troubled debt restructuring (TDR). We assess whether a borrower is experiencing financial difficulty based on a variety of factors, including the borrower’s current default on any of its outstanding debt, the probability of a default on any of its debt in the foreseeable future without the modification, the insufficiency of the borrower’s forecasted cash flows to service any of its outstanding debt (including both principal and interest), and the borrower’s inability to access alternative third-party financing at an interest rate that would be reflective of current market conditions for a non-troubled debtor. Concessions granted may include extended maturity dates, interest rate changes, principal or interest forgiveness, payment deferrals and easing of loan covenants.

During 2015 and 2014, loans with a carrying value of $36 million and $218 million were modified in TDRs, respectively.

REINSURANCE

12 Months Ended

Dec. 31, 2015

REINSURANCE

REINSURANCE

7. REINSURANCE

In the ordinary course of business, our insurance companies may use both treaty and facultative reinsurance to minimize their net loss exposure to any single catastrophic loss event or to an accumulation of losses from a number of smaller events or to provide greater diversification of our businesses. In addition, our general insurance subsidiaries assume reinsurance from other insurance companies. We determine the portion of the incurred but not reported (IBNR) loss that will be recoverable under our reinsurance contracts by reference to the terms of the reinsurance protection purchased. This determination is necessarily based on the estimate of IBNR and accordingly, is subject to the same uncertainties as the estimate of IBNR. Reinsurance assets include the balances due from reinsurance and insurance companies under the terms of our reinsurance agreements for paid and unpaid losses and loss adjustment expenses incurred, ceded unearned premiums and ceded future policy benefits for life and accident and health insurance contracts and benefits paid and unpaid. Amounts related to paid and unpaid losses and benefits and loss expenses with respect to these reinsurance agreements are substantially collateralized. We remain liable to the extent that our reinsurers do not meet their obligation under the reinsurance contracts, and as such, we regularly evaluate the financial condition of our reinsurers and monitor concentration of our credit risk. The estimation of the allowance for doubtful accounts requires judgment for which key inputs typically include historical trends regarding uncollectible balances, disputes and credit events as well as specific reviews of balances in dispute or subject to credit impairment. The allowance for doubtful accounts on reinsurance assets was $272 million and $258 million at December 31, 2015 and 2014, respectively. Changes in the allowance for doubtful accounts on reinsurance assets are reflected in Policyholder benefits and losses incurred within the Consolidated Statements of Income.

The following table provides supplemental information for loss and benefit reserves, gross and net of ceded reinsurance:

At December 31,		2015				2014
		As		Net of		As		Net of
(in millions)		Reported	Reinsurance			Reported	Reinsurance
Liability for unpaid losses and loss adjustment expenses^(a)	$	(74,942)	$	(60,603)	$	(77,260)	$	(61,612)
Future policy benefits for life and accident and health insurance contracts		(43,585)		(42,506)		(42,749)		(41,767)
Reserve for unearned premiums		(21,318)		(18,380)		(21,324)		(18,278)
Reinsurance assets^(b)		18,356				19,676

(a) In 2015 and 2014, the Net of Reinsurance amount reflects the cession under the June 17, 2011 transaction with National Indemnity Company (NICO) of $1.8 billion and $1.5 billion, respectively.

(b) Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses.

Short-Duration Reinsurance

Short-duration reinsurance is effected under reinsurance treaties and by negotiation on individual risks. Certain of these reinsurance arrangements consist of excess of loss contracts that protect us against losses above stipulated amounts. Ceded premiums are considered prepaid reinsurance premiums and are recognized as a reduction of premiums earned over the contract period in proportion to the protection received. Amounts recoverable from reinsurers on short-duration contracts are estimated in a manner consistent with the claims liabilities associated with the reinsurance and presented as a component of Reinsurance assets. Assumed reinsurance premiums are earned primarily on a pro-rata basis over the terms of the reinsurance contracts and the portion of premiums relating to the unexpired terms of coverage is included in the reserve for unearned premiums. For both ceded and assumed reinsurance, risk transfer requirements must be met for reinsurance accounting to apply. If risk transfer requirements are not met, the contract is accounted for as a deposit, resulting in the recognition of cash flows under the contract through a deposit asset or liability and not as revenue or expense. To meet risk transfer requirements, a reinsurance contract must include both insurance risk, consisting of both underwriting and timing risk, and a reasonable possibility of a significant loss for the assuming entity. Similar risk transfer criteria are used to determine whether directly written insurance contracts should be accounted for as insurance or as a deposit.

The following table presents short-duration insurance premiums written and earned:

	Years Ended December 31,
	Non-Life Insurance Companies
(in millions)		2015		2014		2013
Premiums written:
Direct	$	37,698	$	39,375	$	39,833
Assumed		2,972		3,399		4,306
Ceded		(7,604)		(8,318)		(9,514)
Net	$	33,066	$	34,456	$	34,625
Premiums earned:
Direct	$	37,105	$	38,707	$	39,018
Assumed		2,659		3,258		3,516
Ceded		(7,593)		(8,140)		(8,585)
Net	$	32,171	$	33,825	$	33,949

For the years ended December 31, 2015, 2014 and 2013, reinsurance recoveries, which reduced losses and loss adjustment expenses incurred, amounted to $4.1 billion, $2.6 billion and $3.3 billion, respectively.

Long-Duration Reinsurance

Long-duration reinsurance is effected principally under yearly renewable term treaties. The premiums with respect to these treaties are earned over the contract period in proportion to the protection provided. Amounts recoverable from reinsurers on long-duration contracts are estimated in a manner consistent with the assumptions used for the underlying policy benefits and are presented as a component of Reinsurance assets.

The following table presents premiums for our long-duration insurance and retirement services operations:

Years Ended
December 31,	Life Insurance Companies						Run-off insurance lines						Total
(in millions)		2015		2014		2013		2015		2014		2013		2015		2014		2013
Gross premiums	$	5,234	$	4,059	$	4,155	$	6	$	11	$	9	$	5,240	$	4,070	$	4,164
Ceded premiums		(756)		(661)		(620)		-		-		-		(756)		(661)		(620)
Net	$	4,478	$	3,398	$	3,535	$	6	$	11	$	9	$	4,484	$	3,409	$	3,544

Long-duration reinsurance recoveries, which reduced Policyholder benefits and losses incurred, were approximately $1.0 billion, $731 million and $714 million, respectively, for the years ended December 31, 2015, 2014 and 2013.

The following table presents long-duration insurance in-force ceded to other insurance companies:

At December 31,
(in millions)		2015		2014		2013^*
Long-duration insurance in force ceded	$	177,025	$	180,178	$	122,012

* Excludes amounts related to held-for-sale entities.

Long-duration insurance in-force assumed represented 0.04 percent of gross long-duration insurance in-force at December 31, 2015, 0.04 percent at December 31, 2014 and 0.05 percent at December 31, 2013, and premiums assumed by the Life Insurance Companies represented 0.1 percent, 0.5 percent and 0.3 percent of gross premiums for the years ended December 31, 2015, 2014 and 2013, respectively.

The U.S. Life Insurance Companies utilize internal and third-party reinsurance relationships to manage insurance risks and to facilitate capital management strategies, which allows them to minimize the use of letters of credit and utilize capital more efficiently. Pools of highly-rated third-party reinsurers are utilized to manage net amounts at risk in excess of retention limits.

The U.S. Life Insurance Companies manage the capital impact on their statutory reserve requirements under the NAIC Model Regulation “Valuation of Life Insurance Policies” (Regulation XXX) and NAIC Actuarial Guideline 38 (Guideline AXXX) through intercompany reinsurance transactions. Under GAAP, these intercompany reinsurance transactions are eliminated in consolidation. Under one arrangement, one of the U.S. Life Insurance Companies obtains letters of credit to support statutory recognition of the ceded reinsurance. As of December 31, 2015, the U.S. Life Insurance Companies had two bilateral letters of credit totaling $450 million with AIG entities, which were issued on February 7, 2014 and expire on February 7, 2019, but will be automatically extended without amendment by one year on each anniversary of the issuance date, unless the issuer provides notice of non-renewal. See Note 18 for additional information on the use of affiliated reinsurance for Regulation XXX and Guideline AXXX reserves.

Reinsurance Security

Our third-party reinsurance arrangements do not relieve us from our direct obligations to our beneficiaries. Thus, a credit exposure exists with respect to both short-duration and long-duration reinsurance ceded to the extent that any reinsurer fails to meet the obligations assumed under any reinsurance agreement. We hold substantial collateral as security under related reinsurance agreements in the form of funds, securities, and/or letters of credit. A provision has been recorded for estimated unrecoverable reinsurance. We believe that no exposure to a single reinsurer represents an inappropriate concentration of credit risk to AIG. Gross reinsurance assets with our three largest reinsurers aggregate to approximately $6.5 billion and $6.2 billion at December 31, 2015 and 2014, respectively, of which approximately $3.7 billion and $3.3 billion at December 31, 2015 and 2014, respectively, was not secured by collateral.

- Definition

The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts.

+ References + Details

DEFERRED POLICY ACQUISITION COSTS

12 Months Ended

Dec. 31, 2015

DEFERRED POLICY ACQUISITION COSTS

DEFERRED POLICY ACQUISITION COSTS

8. DEFERRED POLICY ACQUISITION COSTS

Deferred policy acquisition costs (DAC) represent those costs that are incremental and directly related to the successful acquisition of new or renewal of existing insurance contracts. We defer incremental costs that result directly from, and are essential to, the acquisition or renewal of an insurance contract. Such deferred policy acquisition costs generally include agent or broker commissions and bonuses, premium taxes, and medical and inspection fees that would not have been incurred if the insurance contract had not been acquired or renewed. Each cost is analyzed to assess whether it is fully deferrable. We partially defer costs, including certain commissions, when we do not believe that the entire cost is directly related to the acquisition or renewal of insurance contracts.

We also defer a portion of employee total compensation and payroll-related fringe benefits directly related to time spent performing specific acquisition or renewal activities, including costs associated with the time spent on underwriting, policy issuance and processing, and sales force contract selling. The amounts deferred are derived based on successful efforts for each distribution channel and/or cost center from which the cost originates.

Short-duration insurance contracts: Policy acquisition costs are deferred and amortized over the period in which the related premiums written are earned, generally 12 months. DAC is grouped consistent with the manner in which the insurance contracts are acquired, serviced and measured for profitability and is reviewed for recoverability based on the profitability of the underlying insurance contracts. Investment income is anticipated in assessing the recoverability of DAC. We assess the recoverability of DAC on an annual basis or more frequently if circumstances indicate an impairment may have occurred. This assessment is performed by comparing recorded net unearned premiums and anticipated investment income on in-force business to the sum of expected losses and loss adjustment expenses incurred, unamortized DAC and maintenance costs. If the sum of these costs exceeds the amount of recorded net unearned premiums and anticipated investment income, the excess is recognized as an offset against the asset established for DAC. This offset is referred to as a premium deficiency charge. Increases in expected losses and loss adjustment expenses incurred can have a significant impact on the likelihood and amount of a premium deficiency charge.

Long-duration insurance contracts: Policy acquisition costs for participating life, traditional life and accident and health insurance products are generally deferred and amortized, with interest, over the premium paying period. The assumptions used to calculate the benefit liabilities and DAC for these traditional products are set when a policy is issued and do not change with changes in actual experience, unless a loss recognition event occurs. These “locked-in” assumptions include mortality, morbidity, persistency, maintenance expenses and investment returns, and include margins for adverse deviation to reflect uncertainty given that actual experience might deviate from these assumptions. A loss recognition event occurs when there is a shortfall between the carrying amount of future policy benefit liabilities, net of DAC, and what the future policy benefit liabilities, net of DAC, would be when applying updated current assumptions. When we determine a loss recognition event has occurred, we first reduce any DAC related to that block of business through amortization of acquisition expense, and after DAC is depleted, we record additional liabilities through a charge to Policyholder benefits and losses incurred. Groupings for loss recognition testing are consistent with our manner of acquiring, servicing and measuring the profitability of the business and applied by product groupings. We perform separate loss recognition tests for traditional life products, payout annuities and long-term care products. Once loss recognition has been recorded for a block of business, the old assumption set is replaced and the assumption set used for the loss recognition would then be subject to the lock-in principle.

Investment-oriented contracts: Policy acquisition costs and policy issuance costs related to universal life and investment-type products (collectively, investment-oriented products) are deferred and amortized, with interest, in relation to the incidence of estimated gross profits to be realized over the estimated lives of the contracts. Estimated gross profits include net investment income and spreads, net realized investment gains and losses, fees, surrender charges, expenses, and mortality gains and losses. In each reporting period, current period amortization expense is adjusted to reflect actual gross profits. If estimated gross profits change significantly, DAC is recalculated using the new assumptions, and any resulting adjustment is included in income. If the new assumptions indicate that future estimated gross profits are higher than previously estimated, DAC will be increased resulting in a decrease in amortization expense and increase in income in the current period; if future estimated gross profits are lower than previously estimated, DAC will be decreased resulting in an increase in amortization expense and decrease in income in the current period. Updating such assumptions may result in acceleration of amortization in some products and deceleration of amortization in other products. DAC is grouped consistent with the manner in which the insurance contracts are acquired, serviced and measured for profitability and is reviewed for recoverability based on the current and projected future profitability of the underlying insurance contracts.

To estimate future estimated gross profits for variable annuity products, a long-term annual asset growth assumption is applied to determine the future growth in assets and related asset-based fees. In determining the asset growth rate, the effect of short-term fluctuations in the equity markets is partially mitigated through the use of a “reversion to the mean” methodology whereby short-term asset growth above or below long-term annual rate assumptions impact the growth assumption applied to the five-year period subsequent to the current balance sheet date. The reversion to the mean methodology allows us to maintain our long-term growth assumptions, while also giving consideration to the effect of actual investment performance. When actual performance significantly deviates from the annual long-term growth assumption, as evidenced by growth assumptions in the five-year reversion to the mean period falling below a certain rate (floor) or above a certain rate (cap) for a sustained period, judgment may be applied to revise or “unlock” the growth rate assumptions to be used for both the five-year reversion to the mean period as well as the long-term annual growth assumption applied to subsequent periods.

Shadow DAC and Shadow Loss Recognition: DAC related to investment-oriented products is also adjusted to reflect the effect of unrealized gains or losses on fixed maturity and equity securities available for sale on estimated gross profits, with related changes recognized through Other comprehensive income (shadow DAC). The adjustment is made at each balance sheet date, as if the securities had been sold at their stated aggregate fair value and the proceeds reinvested at current yields. Similarly, for long-duration traditional insurance contracts, if the assets supporting the liabilities maintain a temporary net unrealized gain position at the balance sheet date, loss recognition testing assumptions are updated to exclude such gains from future cash flows by reflecting the impact of reinvestment rates on future yields. If a future loss is anticipated under this basis, any additional shortfall indicated by loss recognition tests is recognized as a reduction in accumulated other comprehensive income (shadow loss recognition). Similar to other loss recognition on long-duration insurance contracts, such shortfall is first reflected as a reduction in DAC and secondly as an increase in liabilities for future policy benefits. The change in these adjustments, net of tax, is included with the change in net unrealized appreciation of investments that is credited or charged directly to Other comprehensive income.

Internal Replacements of Long-duration and Investment-oriented Products: For some products, policyholders can elect to modify product benefits, features, rights or coverages by exchanging a contract for a new contract or by amendment, endorsement, or rider to a contract, or by the election of a feature or coverage within a contract. These transactions are known as internal replacements. If the modification does not substantially change the contract, we do not change the accounting and amortization of existing DAC and related actuarial balances. If an internal replacement represents a substantial change, the original contract is considered to be extinguished and any related DAC or other policy balances are charged or credited to income, and any new deferrable costs associated with the replacement contract are deferred.

Value of Business Acquired (VOBA) is determined at the time of acquisition and is reported in the Consolidated Balance Sheets with DAC. This value is based on the present value of future pre-tax profits discounted at yields applicable at the time of purchase. For participating life, traditional life and accident and health insurance products, VOBA is amortized over the life of the business in a manner similar to that for DAC based on the assumptions at purchase. For investment-oriented products, VOBA is amortized in relation to estimated gross profits and adjusted for the effect of unrealized gains or losses on fixed maturity and equity securities available for sale in a manner similar to DAC.

The following table presents a rollforward of DAC and VOBA:

Years Ended December 31,
(in millions)		2015		2014		2013
Non-Life Insurance Companies:
Balance, beginning of year	$	2,551	$	2,493	$	2,342
Acquisition costs deferred		4,537		4,805		4,803
Amortization expense		(4,313)		(4,599)		(4,481)
Other		(144)		(148)		(171)
Balance, end of year	$	2,631	$	2,551	$	2,493
Life Insurance Companies:
Balance, beginning of year	$	7,258	$	6,920	$	5,815
Acquisition costs deferred		1,288		1,114		1,034
Amortization expense		(916)		(727)		(674)
Change in net unrealized gains (losses) on securities		848		(360)		784
Decrease due to foreign exchange		(34)		(32)		(39)
Other		23		343		-
Balance, end of year	$	8,467	$	7,258	$	6,920
Consolidation and eliminations		17		18		23
Total deferred policy acquisition costs^*	$	11,115	$	9,827	$	9,436
Supplemental Information:
VOBA amortization expense included in Life Insurance Companies DAC amortization		64		17		23
VOBA, end of year included in Life Insurance Companies DAC balance		453		510		373

* Net of reductions in DAC of $583 million, $1.4 billion, and $1.1 billion for Life Insurance Companies at December 31, 2015, 2014 and 2013, respectively, related to the effect of net unrealized gains and losses on available for sale securities (shadow DAC).

The percentage of the unamortized balance of VOBA at December 31, 2015 expected to be amortized in 2016 through 2020 by year is: 8.4 percent, 7.6 percent, 7.1 percent, 6.9 percent and 6.5 percent, respectively, with 63.5 percent being amortized after five years. These projections are based on current estimates for investment income and spreads, persistency, mortality and morbidity assumptions.

DAC, VOBA and SIA for insurance-oriented and investment-oriented products are reviewed for recoverability, which involves estimating the future profitability of current business. This review involves significant management judgment. If actual future profitability is substantially lower than estimated, AIG’s DAC, VOBA and SIA may be subject to an impairment charge and AIG’s results of operations could be significantly affected in future periods.

VARIABLE INTEREST ENTITIES

12 Months Ended

Dec. 31, 2015

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES

9. VARIABLE INTEREST ENTITIES

A variable interest entity (VIE) is a legal entity that does not have sufficient equity at risk to finance its activities without additional subordinated financial support or is structured such that equity investors lack the ability to make significant decisions relating to the entity’s operations through voting rights or do not substantively participate in the gains and losses of the entity. Consolidation of a VIE by its primary beneficiary is not based on majority voting interest, but is based on other criteria discussed below.

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 Consolidated Balance Sheets:

(in millions)		Real Estate and Investment Entities^(d)		Securitization Vehicles		Structured Investment Vehicle		Affordable Housing Partnerships		Other		Total
December 31, 2015
Assets:
Bonds available for sale	$	-	$	10,309	$	-	$	-	$	15	$	10,324
Other bond securities		-		5,756		387		-		24		6,167
Mortgage and other loans receivable		1		1,960		-		-		132		2,093
Other invested assets		489		477		-		2,608		24		3,598
Other^(a)		29		1,349		94		293		159		1,924
Total assets^(b)(e)	$	519	$	19,851	$	481	$	2,901	$	354	$	24,106
Liabilities:
Long-term debt	$	-	$	1,025	$	53	$	1,513	$	6	$	2,597
Other^(c)		34		236		1		214		71		556
Total liabilities^(e)	$	34	$	1,261	$	54	$	1,727	$	77	$	3,153
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 or Other assets at December 31, 2015 and 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 December 31, 2015 and 2014.

(d) At December 31, 2015 and 2014, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $131.2 million and $56.4 million, respectively.

(e) Includes the effect of consolidating previously unconsolidated partnerships.

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^(a)		Sheet			Total
December 31, 2015
Real estate and investment entities	$	21,951	$	3,072	$	398		$	3,470
Affordable housing partnerships		5,255		774		-			774
Other		1,110		215		1,000			1,215
Total	$	28,316	$	4,061	$	1,398		$	5,459
December 31, 2014
Real estate and investment entities	$	19,949	$	2,785	$	454		$	3,239
Affordable housing partnerships		7,911		425		-			425
Other^(c)		1,959		304		992	^(b)		1,296
Total	$	29,819	$	3,514	$	1,446		$	4,960

(a) At December 31, 2015 and 2014, $3.8 billion and $3.2 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.

(b) These amounts represent our estimate of the maximum exposure to loss under certain insurance policies issued to VIEs if a hypothetical loss occurred to the extent of the full amount of the insured value. Our insurance policies cover defined risks and our estimate of liability is included in our insurance reserves on the balance sheet.

(c) The On-Balance and Off-Balance sheet amounts have been revised from $32 million and $0 to $304 million and $992 million, respectively, to correct the Maximum Exposure to Loss as of December 31, 2014, which are not considered material to previously issued financial statements.

Real Estate and Investment Entities

Through our insurance operations and AIG Global Real Estate, we are an investor in various real estate investment entities, some of which are VIEs. These investments are typically with unaffiliated third-party developers via a partnership or limited liability company structure. The VIEs’ activities consist of the development or redevelopment of commercial, industrial and residential real estate. Our involvement varies from being a passive equity investor or finance provider to actively managing the activities of the VIEs.

Our insurance operations participate as passive investors in the equity issued by certain third-party-managed hedge and private equity funds that are VIEs. Our insurance operations typically are not involved in the design or establishment of these VIEs, nor do they actively participate in the management of the VIEs.

Securitization Vehicles

We created certain VIEs that hold investments, primarily in investment-grade debt securities and loans, and issued beneficial interests in these investments. The majority of these beneficial interests are owned by our insurance operations and we maintain the power to direct the activities of the VIEs that most significantly impact their economic performance and bear the obligation to absorb losses or receive benefits from the entities that could potentially be significant to the entities. Accordingly, we consolidate these entities and those beneficial interests issued to third-parties are reported as Long-term debt.

Structured Investment Vehicle

We sponsor Nightingale Finance Ltd., a structured investment vehicle (SIV), which is a VIE. Nightingale Finance Ltd. primarily invests in variable rate, investment-grade debt securities, the majority of which are ABS. We have no equity interest in the SIV, but we maintain the power to direct the activities of the SIV that most significantly impact the entity’s economic performance and bear the obligation to absorb economic losses that could potentially be significant to the SIV. We are the primary beneficiary and consolidate the SIV.

Affordable Housing Partnerships

SunAmerica Affordable Housing Partners, Inc. (SAAHP) organized and invested in limited partnerships that develop and operate affordable housing qualifying for federal, state, and historic tax credits, in addition to a few market rate properties across the United States. The operating partnerships are VIEs, whose debt is generally non-recourse in nature, and the general partners of which are mostly unaffiliated third-party developers. We account for our investments in operating partnerships using the equity method of accounting, unless they are required to be consolidated. We consolidate an operating partnership if the general partner is an affiliated entity or we otherwise have the power to direct activities that most significantly impact the entities’ economic performance. The pre-tax income of SAAHP is reported as a component of the Consumer Insurance segment.

RMBS, CMBS, Other ABS and CDOs

Primarily through our insurance operations, we are a passive investor in RMBS, CMBS, other ABS and CDOs, the majority of which are issued by domestic special purpose entities. We generally do not sponsor or transfer assets to, or act as the servicer to these asset-backed structures, and were not involved in the design of these entities.

Our maximum exposure in these types of structures is limited to our investment in securities issued by these entities. Based on the nature of our investments and our passive involvement in these types of structures, we have determined that we are not the primary beneficiary of these entities. We have not included these entities in the above tables; however, the fair values of our investments in these structures are reported in Notes 4 and 5 herein.

DERIVATIVES AND HEDGE ACCOUNTING

12 Months Ended

Dec. 31, 2015

DERIVATIVES AND HEDGE ACCOUNTING

DERIVATIVES AND HEDGE ACCOUNTING

10. 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. 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 swaps and forwards) 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 as a part of our investment operations, which may include, among other things, CDSs and purchases of investments with embedded derivatives, such as equity-linked notes and convertible bonds.

Interest rate, currency, equity and commodity swaps, credit contracts, swaptions, options and forward transactions are accounted for as derivatives, recorded on a trade-date basis and carried at fair value. Unrealized gains and losses are reflected in income, when appropriate. Aggregate asset or liability positions are netted on the Consolidated Balance Sheets only to the extent permitted by qualifying master netting arrangements in place with each respective counterparty. Cash collateral posted with counterparties in conjunction with transactions supported by qualifying master netting arrangements is reported as a reduction of the corresponding net derivative liability, while cash collateral received in conjunction with transactions supported by qualifying master netting arrangements is reported as a reduction of the corresponding net derivative asset.

Effective July 1, 2015, we reclassified derivatives, with the exception of embedded derivatives, in the Consolidated Balance Sheets from Derivative assets, at fair value and Derivative liabilities, at fair value to Other assets and Other liabilities, respectively. This change had no effect on the measurement of these derivatives, which continue to be measured at fair value. Embedded derivatives continue to be generally presented with the host contract in the Consolidated Balance Sheets. A bifurcated embedded derivative is measured at fair value and accounted for in the same manner as a free standing derivative contract. The corresponding host contract is accounted for according to the accounting guidance applicable for that instrument. See Notes 4 and 13 herein for additional information on embedded derivatives.

The following table presents the notional amounts of our derivatives and the fair value of derivative assets and liabilities in the Consolidated Balance Sheets:

	December 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		Amount		Value		Amount		Value		Amount		Value
Derivatives designated as
hedging instruments:^(a)
Interest rate contracts	$	301	$	1	$	725	$	2	$	155	$	-	$	25	$	2
Foreign exchange contracts		2,903		207		914		56		611		25		1,794		239
Equity contracts		-		-		121		23		7		1		104		13
Derivatives not designated
as hedging instruments:^(a)
Interest rate contracts		45,846		3,161		65,733		2,197		65,070		3,743		45,104		3,131
Foreign exchange contracts		9,472		559		8,900		1,148		13,667		815		8,516		1,251
Equity contracts		6,656		177		5,028		45		7,565		206		3,049		90
Commodity contracts		-		-		-		-		15		-		11		6
Credit contracts^(b)		4		3		1,289		508		5		4		5,288		982
Other contracts^(c)		37,586		23		203		69		36,155		31		538		90
Total derivatives, gross	$	102,768	$	4,131	$	82,913	$	4,048	$	123,250	$	4,825	$	64,429	$	5,804
Counterparty netting^(d)				(1,268)				(1,268)				(2,102)				(2,102)
Cash collateral^(e)				(1,554)				(760)				(1,119)				(1,429)
Total derivatives on
consolidated balance sheets^(f)			$	1,309			$	2,020			$	1,604			$	2,273

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

(b) As of December 31, 2015 and 2014, included super senior multi-sector CDOs with a net notional amount of $1.1 billion and $2.6 billion (fair value liability of $483 million and $947 million), respectively. The expected weighted average maturity as of December 31, 2015 is six years. Because of long-term maturities of the 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 December 31, 2015, there were no super senior corporate debt/CLOs remaining. As of December 31, 2014, included super senior corporate debt/CLOs with a net notional amount of $2.5 billion (fair value liability of $7 million).

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

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

(f) Freestanding derivatives only, excludes Embedded derivatives. Derivative instrument assets and liabilities are recorded in Other Assets and Liabilities, respectively. Fair value of assets related to bifurcated Embedded derivatives was zero at both December 31, 2015 and December 31, 2014. Fair value of liabilities related to bifurcated Embedded derivatives was $2.3 billion and $1.6 billion, respectively, at December 31, 2015 and December 31, 2014. A bifurcated Embedded derivative is generally presented with the host contract in the Consolidated Balance Sheets. Embedded derivatives are primarily related to guarantee features in variable annuity products, which include equity and interest rate components.

Collateral

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

Collateral posted by us to third parties for derivative transactions was $3.0 billion and $3.3 billion at December 31, 2015 and 2014, respectively. In the case of collateral posted under derivative transactions that are not subject to clearing, this collateral can generally be repledged or resold by the counterparties. Collateral provided to us from third parties for derivative transactions was $1.6 billion and $1.3 billion at December 31, 2015 and 2014, respectively. We generally can repledge or resell collateral.

Offsetting

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

Hedge Accounting

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

We use foreign currency denominated debt and cross-currency swaps as hedging instruments in net investment hedge relationships to mitigate the foreign exchange risk associated with our non-U.S. dollar functional currency foreign subsidiaries. For net investment hedge relationships where issued debt is used as a hedging instrument, we assess the hedge effectiveness and measure the amount of ineffectiveness based on changes in spot rates. For net investment hedge relationships that use derivatives as hedging instruments, we assess hedge effectiveness and measure hedge ineffectiveness using changes in forward rates. For the years ended December 31, 2015, 2014, and 2013 we recognized gains of $90 million and $156 million and a loss of $38 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 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)
Year ended December 31, 2015
Interest rate contracts:
Realized capital gains/(losses)	$	-	$	1	$	1	$	-	$	-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		9		-		-		9
Gain/(Loss) on extinguishment of debt		-		14		-		-		14
Foreign exchange contracts:
Realized capital gains/(losses)		202		(167)		-		32		3
Interest credited to policyholder
account balances		-		(1)		-		-		(1)
Other income		-		17		-		-		17
Gain/(Loss) on extinguishment of debt		-		17		-		-		17
Equity contracts:
Realized capital gains/(losses)		(45)		45		-		-		-
Year ended December 31, 2014
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(2)	$	-	$	-	$	(1)
Interest credited to policyholder
account balances		-		(1)		-		-		(1)
Other income		-		43		-		-		43
Gain/(Loss) on extinguishment of debt		-		164		-		-		164
Foreign exchange contracts:
Realized capital gains/(losses)		(129)		147		-		8		10
Interest credited to policyholder
account balances		-		(3)		-		-		(3)
Other income		-		23		-		-		23
Gain/(Loss) on extinguishment of debt		-		2		-		-		2
Equity contracts:
Realized capital gains/(losses)		(23)		22		-		(1)		-
Year ended December 31, 2013
Interest rate contracts:
Realized capital gains/(losses)	$	(5)	$	5	$	-	$	-	$	-
Interest credited to policyholder
account balances		-		(2)		-		-		(2)
Other income		-		99		-		-		99
Foreign exchange contracts:
Realized capital gains/(losses)		(187)		204		-		17		-

(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 Consolidated Statements of Income:

	Gains (Losses)
Years Ended December 31,	Recognized in Earnings
(in millions)		2015		2014		2013
By Derivative Type:
Interest rate contracts	$	339	$	851	$	(259)
Foreign exchange contracts		416		309		41
Equity contracts		(182)		(274)		(507)
Commodity contracts		(1)		(1)		(4)
Credit contracts		186		263		567
Other contracts		69		192		85
Embedded derivatives		49		(841)		1,099
Total	$	876	$	499	$	1,022
By Classification:
Policy fees	$	78	$	-	$	-
Net investment income		26		102		28
Net realized capital gains (losses)		365		(219)		257
Other income		401		599		750
Policyholder benefits and claims incurred		6		17		(13)
Total	$	876	$	499	$	1,022

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 December 31, 2015 and 2014, was approximately $2.0 billion and $2.5 billion, respectively. The aggregate fair value of assets posted as collateral under these contracts at December 31, 2015 and 2014, was $2.1 billion and $2.7 billion, respectively.

We estimate that at December 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 a negligible amount of corresponding collateral postings and termination payments; a one-notch downgrade to Baa2 by Moody’s Investors’ Service, Inc. (Moody’s) and an additional one-notch downgrade to BBB by S&P would result in approximately $44 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 $95 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 December 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 Consolidated Balance Sheets. The fair values of these hybrid securities were $5.7 billion and $6.1 billion at December 31, 2015 and 2014, respectively. These securities have par amounts of $11.2 billion and $12.3 billion at December 31, 2015 and 2014, respectively, and have remaining stated maturity dates that extend to 2055.

- Definition

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

+ References

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

GOODWILL

12 Months Ended

Dec. 31, 2015

Goodwill Disclosure

GOODWILL

11. GOODWILL

Goodwill represents the future economic benefits arising from assets acquired in a business combination that are not individually identified and separately recognized. Goodwill is tested for impairment annually or more frequently if circumstances indicate an impairment may have occurred. We assess goodwill for impairment at one level below our reportable segments. At December 31, 2015, our principal reporting units with goodwill are Commercial Insurance - Property Casualty, Consumer Insurance - Personal Insurance, and Consumer Insurance - Life. When a business is transferred from one reporting unit to another, as occurred with the transfer of a portion of the Consumer Insurance - Personal Insurance to Consumer Insurance – Life, as part of the 2014 segment changes, goodwill at the original reporting unit is allocated among reporting units based on the fair value of business transferred, relative to business retained by a reporting unit.

The impairment assessment involves an option to first assess qualitative factors to determine whether events or circumstances exist that lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the qualitative assessment is not performed, or after assessing the totality of the events or circumstances, we determine it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the impairment assessment involves a two-step process in which a quantitative assessment for potential impairment is performed.

If the qualitative test is not performed or if the test indicates a potential impairment is present, we estimate the fair value of each reporting unit and compare the estimated fair value with the carrying amount of the reporting unit, including allocated goodwill. The estimate of a reporting unit’s fair value involves management judgment and is based on one or a combination of approaches including discounted expected future cash flows, market-based earnings multiples of the unit’s peer companies, external appraisals or, in the case of reporting units being considered for sale, third-party indications of fair value, if available. We consider one or more of these estimates when determining the fair value of a reporting unit to be used in the impairment test.

If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill is not impaired. If the carrying value of a reporting unit exceeds its estimated fair value, goodwill associated with that reporting unit potentially is impaired. The amount of impairment, if any, is measured as the excess of the carrying value of the goodwill over the implied fair value of the goodwill. The implied fair value of the goodwill is measured as the excess of the fair value of the reporting unit over the amounts that would be assigned to the reporting unit’s assets and liabilities in a hypothetical business combination. An impairment charge is recognized in earnings to the extent of the excess of carrying value over fair value.

Goodwill was not impaired at December 31, 2015 based on the results of the goodwill impairment test.

The following table presents the changes in goodwill by reportable segment:


(in millions)	Commercial		Consumer		Other			Total
Balance at January 1, 2013:
Goodwill - gross	$	2,444	$	2,502	$	-	$	4,946
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill		1,178		291		-		1,469
Increase (decrease) due to:
Other		6		-		-		6
Balance at December 31, 2013:
Goodwill - gross		2,450		2,502		-		4,952
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill		1,184		291		-		1,475
Increase (decrease) due to:
Acquisition		-		28		-		28
Other		(49)		-		-		(49)
Balance at December 31, 2014:
Goodwill - gross		2,401		2,530		-		4,931
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill		1,135		319		-		1,454
Increase (decrease) due to:
Acquisition		96		82		30		208
Other		(50)		1		-		(49)
Balance at December 31, 2015:
Goodwill - gross		2,447		2,613		30		5,090
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill	$	1,181	$	402	$	30	$	1,613

INSURANCE LIABILITIES

12 Months Ended

Dec. 31, 2015

LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS

LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS

12. INSURANCE LIABILITIES

Liability for Unpaid Losses and Loss Adjustment Expenses

The liability for unpaid losses and loss adjustment expenses represents the accumulation of estimates of unpaid claims, including estimates for claims incurred but not reported and claim adjustments expenses, less applicable discount for future investment income. We continually review and update the methods used to determine loss reserve estimates and to establish the resulting reserves. Any adjustments resulting from this review are reflected currently in pre-tax income. Because these estimates are subject to the outcome of future events, changes in estimates are common given that loss trends vary and time is often required for changes in trends to be recognized and confirmed. Reserve changes that increase previous estimates of ultimate cost are referred to as unfavorable or adverse development or reserve strengthening. Reserve changes that decrease previous estimates of ultimate cost are referred to as favorable development.

Our gross loss reserves before reinsurance and discount are net of contractual deductible recoverable amounts due from policyholders of approximately $12.6 billion and $12.4 billion at December 31, 2015 and 2014, respectively. These recoverable amounts are related to certain policies with high deductibles (in excess of high dollar amounts retained by the insured through self-insured retentions or deductibles each referred to generically as “deductibles”), primarily for U.S. commercial casualty business. With respect to the deductible portion of the claim, the Non-life Insurance Companies manage and pay the entire claim on behalf of the insured and are reimbursed by the insured for the deductible portion of the claim. At December 31, 2015 and 2014, we held collateral of approximately $9.6 billion and $9.4 billion, respectively, for these deductible recoverable amounts, consisting primarily of letters of credit and trust agreements.

The following table presents the reconciliation of activity in the Liability for unpaid losses and loss adjustment expenses:

Years Ended December 31,
(in millions)		2015		2014		2013
Liability for unpaid losses and loss adjustment expenses, beginning of year	$	77,260	$	81,547	$	87,991
Reinsurance recoverable		(15,648)		(17,231)		(19,209)
Net liability for unpaid losses and loss adjustment expenses, beginning of year		61,612		64,316		68,782
Foreign exchange effect		(1,429)		(1,061)		(617)
Dispositions		-		-		(79)
Changes in net loss reserves due to retroactive asbestos reinsurance transaction		20		141		22
Total		60,203		63,396		68,108
Losses and loss adjustment expenses incurred:
Current year		20,308		21,279		22,171
Prior years, excluding discount		4,119		703		557
Prior years, discount charge (benefit)		(71)		478		(309)
Total		24,356		22,460		22,419
Losses and loss adjustment expenses paid^*:
Current year		5,751		6,358		7,431
Prior years		18,205		17,886		18,780
Total		23,956		24,244		26,211
Balance, end of year:
Net liability for unpaid losses and loss adjustment expenses		60,603		61,612		64,316
Reinsurance recoverable		14,339		15,648		17,231
Total	$	74,942	$	77,260	$	81,547

* Includes amounts related to dispositions through the date of disposition.

The net adverse development includes loss-sensitive business, for which we recognized (return) additional premiums on loss sensitive business of $(49) million, $105 million and $89 million for the years ended December 31, 2015, 2014and 2013, respectively.

Each quarter, we conduct a series of actuarial reviews to reassess the reasonableness of our carried reserves. These reviews are conducted for each class of business, and consist of hundreds of individual analyses. We consider data and information arising since the prior review and adjust, as appropriate, the methods and assumptions used in the latest actuarial reviews. Our analyses produce a range of indications from various methods, from which we select our best estimate.

For 2015, the adverse development of prior year losses is primarily a result of the following:

Excess Casualty – U.S. & Canada experienced $1.5 billion of adverse development largely driven by worse than expected loss emergence reported in 2015, reflecting worsening trends in the number and nature of high severity losses in both general liability and umbrella auto liability, primarily for U.S. risks. We reacted to the adverse emergence by updating our assumptions about loss severity, loss development patterns, and expected loss ratios for the most recent accident years.
Primary Casualty – U.S. & Canada experienced $1.1 billion of adverse development. $540 million related to workers’ compensation policies with risk sharing features to reflect estimated increased losses and reduced expectations of future recoveries from our insureds through these risk-sharing features. Risk-sharing features, include high deductibles, self-insured retentions or retrospective rating features. We also experienced adverse development of $146 million in primary general liability due to adverse emergence of claims in the construction sector; $144 million in primary auto liability due to observed increases in both the frequency and severity of claims; $100 million for future claim handling expenses related to existing loss reserves, and $100 million in workers’ compensation for coverages sold to government contractors in U.S. and non U.S. military installations as a result of adverse loss emergence in recent accident years.
Financial Lines – U.S. & Canada experienced $579 million of adverse development related to development of several reported claims above expectations, in D&O and professional liability principally related to accident years 2006 through 2010.
Run-off insurance lines experienced $727 million of adverse development largely driven by $281 million in asbestos and environmental for accident years 1986 & prior and $272 million of other run-off. Reasons for this development are as follows:

Asbestos coverage has been excluded from AIG policies commencing in 1985. Most of AIG’s asbestos reserves are ceded to National Indemnity Company (NICO) under a retrospective reinsurance arrangement entered into in 2011. However, certain asbestos-related exposures are not subject to the NICO agreement, including asbestos exposures for which we have negotiated fixed payment schedules, and third party reinsurance assumed policies. The reported claim activity on the assumed claims has increased in the last year. As a result, we modified certain of our loss-reserve-related assumptions to better reflect this AIG-specific experience as well as consideration of recent industry-wide trends regarding expanding coverage theories for liability. As a result, we increased our 2015 reserves by $164 million and by $117 million for Asbestos and Environmental, respectively.
Run-off lines experienced $272 million of adverse development based on updated assumptions about future loss development.

In 2014, the increase in prior years’ loss reserves of $703 million included $550 million, $124 million, $182 million, $109 million, and $(102) million related to Primary Casualty – U.S. & Canada, Asbestos and environmental (1986 and prior), Financial Lines – International, Healthcare, and Natural Catastrophes – U.S. & Canada, respectively.

In 2013, the increase in prior years’ loss reserves of $557 million includes $498 million, $238 million, $(144) million, and $(54) million related to Primary Casualty – U.S. & Canada, Asbestos and environmental (1986 and prior), Excess Casualty – U.S. & Canada, and Healthcare, respectively.

Asbestos and Environmental Run-off Reserves

At December 31, 2015 and 2014, our net liability for unpaid loss and loss adjustment expenses included $722 million and $573 million, respectively, for asbestos and environmental-related claims (net of reinsurance, including retroactive reinsurance). We cede the bulk of AIG Property Casualty’s net domestic asbestos liabilities under a 2011 retroactive reinsurance agreement with National Indemnity Company (NICO) with an aggregate limit of $3.5 billion. Reinsurance recoverables related to this agreement are $1.8 billion and $1.5 billion, respectively, at December 31, 2015 and 2014, respectively. Under retroactive reinsurance accounting, contractual gains are deferred and amortized into income over the settlement period of the underlying reinsured claims. During 2015, 2014 and 2013, we recognized approximately $233 million, $0 and $72 million, respectively, of additional recoveries under the NICO agreement for which the income statement benefit was deferred. The expense related to this increase in the deferred gain liability is reported in Other income/expense and is therefore excluded from net losses incurred.

Reserves for asbestos and environmental claims cannot be estimated using conventional reserving techniques such as those that rely on historical accident year loss development factors. The methods used to determine asbestos and environmental loss estimates and to establish the resulting reserves are continually reviewed and updated by management.

Various factors contribute to the complexity and difficulty in determining the future development of claims such as court resolutions and judicial interpretations which broaden the intent of the policies and scope of coverage.

We primarily base our determination of these reserves on a combination of ground-up and top-down analyses of historical claims and available insurance coverages. We consider a number of factors and recent experience, in addition to the results of both external and internal analyses, to estimate asbestos and environmental loss reserves.

Discounting of Reserves

At December 31, 2015, the liability for unpaid losses and loss adjustment expenses reflects a net loss reserve discount of $3.1 billion, including tabular and non-tabular calculations based upon the following assumptions:

Certain asbestos business that was written by Non-Life Insurance Companies is discounted, when allowed by the regulator and when payments are fixed and determinable, based on the investment yields of the companies and the payout pattern for this business.
The tabular workers’ compensation discount is calculated based on a 3.5 percent interest rate and the mortality table used in the 2007 U.S. Life Table.
The non-tabular workers’ compensation discount is calculated separately for companies domiciled in New York and Pennsylvania, and follows the statutory regulations (prescribed or permitted) for each state. For New York companies, the discount is based on a five percent interest rate and the companies’ own payout patterns.
Our Delaware and Pennsylvania regulators approved use of a consistent discount rate (U.S. Treasury rate plus a liquidity premium) to all of our workers’ compensation reserves in companies domiciled in those states, as well as our use of updated payout patterns specific to our primary and excess workers compensation portfolios.
In the fourth quarter of 2015, our Pennsylvania and Delaware regulators approved an updated discount rate that we applied to our workers’ compensation loss reserves for the legal entities domiciled in those states.

The discount consists of the following: $853 million of tabular discount for workers’ compensation, $2.3 billion of non-tabular discount for workers’ compensation in the domestic operations; and $7 million — non-tabular discount for asbestos

Future Policy Benefits

Future policy benefits primarily include reserves for traditional life and annuity payout contracts, which represent an estimate of the present value of future benefits less the present value of future net premiums. Included in Future policy benefits are liabilities for annuities issued in structured settlement arrangements whereby a claimant has agreed to settle a general insurance claim in exchange for fixed payments over a fixed determinable period of time with a life contingency feature.

Future policy benefits also include certain guaranteed benefits of variable annuity products that are not considered embedded derivatives, primarily guaranteed minimum death benefits. See Note 13 for additional information on guaranteed minimum death benefits.

The liability for long-duration future policy benefits has been established including assumptions for interest rates which vary by year of issuance and product, and range from approximately 3 percent to 14 percent. Mortality and surrender rate assumptions are generally based on actual experience when the liability is established.

Policyholder Contract Deposits

The liability for Policyholder contract deposits is primarily recorded at accumulated value (deposits received and net transfers from separate accounts, plus accrued interest credited at rates ranging from 0.2 percent to 9.0 percent at December 31, 2015, less withdrawals and assessed fees). Deposits collected on investment-oriented products are not reflected as revenues, because they are recorded directly to Policyholder contract deposits upon receipt. Amounts assessed against the contract holders for mortality, administrative, and other services are included in revenues.

In addition to liabilities for universal life, fixed annuities, fixed options within variable annuities, annuities without life contingencies, funding agreements and GICs, policyholder contract deposits also include our liability for (a) certain guaranteed benefits and indexed features accounted for as embedded derivatives at fair value, (b) annuities issued in a structured settlement arrangement with no life contingency and (c) certain contracts we have elected to account for at fair value. See Note 13 herein for additional information on guaranteed benefits accounted for as embedded derivatives.

For universal life policies with secondary guarantees, we recognize certain liabilities in addition to policyholder account balances. For universal life policies with secondary guarantees, as well as other universal life policies for which profits followed by losses are expected at contract inception, a liability is recognized based on a benefit ratio of (a) the present value of total expected payments, in excess of the account value, over the life of the contract, divided by (b) the present value of total expected assessments over the life of the contract. For universal life policies without secondary guarantees, for which profits followed by losses are first expected after contract inception, we establish a liability, in addition to policyholder account balances, so that expected future losses are recognized in proportion to the emergence of profits in the earlier (profitable) years. Universal life account balances as well as these additional liabilities related to universal life products are reported within policyholder contract deposits in the Consolidated Balance Sheet.

Under a funding agreement-backed notes issuance program, an unaffiliated, non-consolidated statutory trust issues medium-term notes to investors, which are secured by GICs issued to the trust by one of our Life Insurance Companies through our Institutional Markets operating segment.

The following table presents Policyholder contract deposits of the U.S. Life Insurance Companies by product line:

At December 31,
(in millions)		2015		2014
Policyholder contract deposits:
Fixed Annuities	$	52,397	$	53,370
Group Retirement		37,865		37,693
Life		14,028		13,717
Retirement Income Solutions		13,927		10,040
Institutional Markets		9,371		9,793
Total Policyholder contract deposits	$	127,588	$	124,613

Other Policyholder Funds

Other policyholder funds include unearned revenue reserves (URR). URR consist of front-end loads on investment-oriented contracts, representing those policy loads that are non-level and typically higher in initial policy years than in later policy years. URR for investment-oriented contracts are generally deferred and amortized, with interest, in relation to the incidence of estimated gross profits (EGPs) to be realized over the estimated lives of the contracts and are subject to the same adjustments due to changes in the assumptions underlying EGPs as DAC. Amortization of URR is recorded in Policy fees.

Other policyholder funds also include provisions for future dividends to participating policyholders, accrued in accordance with all applicable regulatory or contractual provisions. Participating life business represented approximately 2.2 percent of gross insurance in force at December 31, 2015 and 2.4 percent of gross domestic premiums and other considerations in 2015. The amount of annual dividends to be paid is approved locally by the boards of directors of the Life Insurance Companies. Provisions for future dividend payments are computed by jurisdiction, reflecting local regulations. The portions of current and prior net income and of current unrealized appreciation of investments that can inure to our benefit are restricted in some cases by the insurance contracts and by the local insurance regulations of the jurisdictions in which the policies are in force.

Certain products are subject to experience adjustments. These include group life and group medical products, credit life contracts, accident and health insurance contracts/riders attached to life policies and, to a limited extent, reinsurance agreements with other direct insurers. Ultimate premiums from these contracts are estimated and recognized as revenue with the unearned portions of the premiums recorded as liabilities in Other policyholder funds. Experience adjustments vary according to the type of contract and the territory in which the policy is in force and are subject to local regulatory guidance.

VARIABLE LIFE AND ANNUITY CONTRACTS

12 Months Ended

Dec. 31, 2015

VARIABLE LIFE AND ANNUITY CONTRACTS

VARIABLE LIFE AND ANNUITY CONTRACTS

13. VARIABLE LIFE AND ANNUITY CONTRACTS

We report variable contracts within the separate accounts when investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder and the separate account meets additional accounting criteria to qualify for separate account treatment. The assets supporting the variable portion of variable annuity and variable universal life contracts that qualify for separate account treatment are carried at fair value and reported as Separate account assets, with an equivalent summary total reported as Separate account liabilities.

Policy values for variable products and investment contracts are expressed in terms of investment units. Each unit is linked to an asset portfolio. The value of a unit increases or decreases based on the value of the linked asset portfolio. The current liability at any time is the sum of the current unit value of all investment units in the separate accounts, plus any liabilities for guaranteed minimum death benefits or guaranteed minimum withdrawal benefits included in Future policy benefits or Policyholder contract deposits, respectively.

Amounts assessed against the contract holders for mortality, administrative and other services are included in revenue. Net investment income, net investment gains and losses, changes in fair value of assets, and policyholder account deposits and withdrawals related to separate accounts are excluded from the Consolidated Statements of Income, Comprehensive Income (Loss) and Cash Flows.

Variable annuity contracts may include certain contractually guaranteed benefits to the contract holder. These guaranteed features include guaranteed minimum death benefits (GMDB) that are payable in the event of death, and living benefits that are payable in the event of annuitization, or, in other instances, at specified dates during the accumulation period. Living benefits include guaranteed minimum income benefits (GMIB), guaranteed minimum withdrawal benefits (GMWB) and guaranteed minimum accumulation benefits (GMAB). A variable annuity contract may include more than one type of guaranteed benefit feature; for example, it may have both a GMDB and a GMWB. However, a policyholder can only receive payout from one guaranteed feature on a contract containing a death benefit and a living benefit, i.e. the features are mutually exclusive, so the exposure to the guaranteed amount for each feature is independent of the exposure from other features (except a surviving spouse who has a rider to potentially collect both a GMDB upon their spouse’s death and a GMWB during their lifetime). A policyholder cannot purchase more than one living benefit on one contract. The net amount at risk for each feature is calculated irrespective of the existence of other features; as a result, the net amount at risk for each feature is not additive to that of other features.

Account balances of variable annuity contracts with guarantees were invested in separate account investment options as follows:

At December 31,
(in millions)		2015		2014
Equity funds	$	39,284	$	40,811
Bond funds		7,261		7,566
Balanced funds		24,849		22,354
Money market funds		826		797
Total	$	72,220	$	71,528

GMDB and GMIB

Depending on the contract, the GMDB feature may provide a death benefit of either (a) total deposits made to the contract less any partial withdrawals plus a minimum return (and in rare instances, no minimum return) or (b) the highest contract value attained, typically on any anniversary date minus any subsequent withdrawals following the contract anniversary. GMIB guarantees a minimum level of periodic income payments upon annuitization. GMDB is our most widely offered benefit. Our account values subject to guarantees also include GMIB to a lesser extent, which is no longer offered.

The liabilities for GMDB and GMIB, which are recorded in Future policy benefits, represent the expected value of benefits in excess of the projected account value, with the excess recognized ratably over the accumulation period based on total expected assessments, through Policyholder benefits and losses incurred. The net amount at risk for GMDB represents the amount of benefits in excess of account value if death claims were filed on all contracts on the balance sheet date.

The following table presents details concerning our GMDB exposures, by benefit type:

At December 31,	2015				2014
		Net Deposits				Net Deposits
		Plus a Minimum		Highest Contract		Plus a Minimum		Highest Contract
(dollars in billions)		Return		Value Attained		Return		Value Attained
Account value	$	87	$	16	$	85	$	17
Net amount at risk		2		1		1		1
Average attained age of contract holders by product		63		69		62		68
Range of guaranteed minimum return rates		0-4.5%				0%-5%

The following summarizes GMDB and GMIB liabilities related to variable annuity contracts, excluding assumed reinsurance:

Years Ended December 31,
(in millions)		2015		2014		2013
Balance, beginning of year	$	420	$	394	$	413
Reserve increase		127		93		32
Benefits paid		(56)		(67)		(51)
Balance, end of year	$	491	$	420	$	394

Assumptions used to determine the GMDB and GMIB liability include interest rates, which vary by year of issuance and products; mortality rates, which are based upon actual experience modified to allow for variations in policy form; lapse rates, which are based upon actual experience modified to allow for variations in policy form; investment returns, using assumptions from a randomly generated model; and asset growth assumptions, which include a reversion to the mean methodology, similar to that applied for DAC.

We regularly evaluate estimates used to determine the GMDB liability and adjust the additional liability balance, with a related charge or credit to Policyholder benefits and losses incurred, if actual experience or other evidence suggests that earlier assumptions should be revised.

GMWB and GMAB

Certain of our variable annuity contracts contain optional GMWB benefits and, to a lesser extent, GMAB benefits, which are not currently offered. With a GMWB, the contract holder can monetize the excess of the guaranteed amount over the account value of the contract only through a series of withdrawals that do not exceed a specific percentage per year of the guaranteed amount. If, after the series of withdrawals, the account value is exhausted, the contract holder will receive a series of annuity payments equal to the remaining guaranteed amount, and, for lifetime GMWB products, the annuity payments continue as long as the covered person(s) is living. With a GMAB benefit, the contract holder can monetize the excess of the guaranteed amount over the account value of the contract, provided the contract holder persists until the maturity date.

The liabilities for GMWB and GMAB, which are recorded in Policyholder contract deposits, are accounted for as embedded derivatives measured at fair value, with changes in the fair value of the liabilities recorded in Other net realized capital gains (losses). The fair value of these embedded derivatives was a net liability of $1.2 billion and $957 million at December 31, 2015 and 2014, respectively. See Note 4 for discussion of the fair value measurement of guaranteed benefits that are accounted for as embedded derivatives. We had account values subject to GMWB and GMAB that totaled $38 billion and $35 billion at December 31, 2015 and 2014, respectively. The net amount at risk for GMWB represents the present value of minimum guaranteed withdrawal payments, in accordance with contract terms, in excess of account value, assuming no lapses. The net amount at risk for GMAB represents the present value of minimum guaranteed account value in excess of the current account balance, assuming no lapses. In aggregate, the net amount at risk related to the GMWB and GMAB guarantees was $640 million and $414 million at December 31, 2015 and 2014, respectively. We use derivative instruments and other financial instruments to mitigate a portion of our exposure that arises from GMWB and GMAB benefits.

DEBT

12 Months Ended

Dec. 31, 2015

DEBT

DEBT

14. DEBT

Our long-term debt is denominated in various currencies, with both fixed and variable interest rates. Long-term debt is carried at the principal amount borrowed, including unamortized discounts, hedge accounting valuation adjustments and fair value adjustments, when applicable. The interest rates presented in the following table reflect the range of contractual rates in effect at December 31, 2015, including fixed and variable rate issuances.

The following table lists our total debt outstanding at December 31, 2015 and 2014. The interest rates presented in the following table are the range of contractual rates in effect at December 31, 2015, including fixed and variable-rates:

				Balance at		Balance at
At December 31, 2015	Range of	Maturity		December 31,		December 31,
(in millions)	Interest Rate(s)	Date(s)			2015		2014
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable	2.30% - 8.13%		2016 - 2097	$	17,136	$	15,570
Subordinated debt	2.38%		2015		-		250
Junior subordinated debt	4.88% - 8.63%		2037 - 2058		1,337		2,466
AIG Japan Holdings Kabushiki Kaisha	0.44% - 1.25%		2016 - 2019		106		-
AIGLH notes and bonds payable	6.63% - 7.50%		2025 - 2029		284		284
AIGLH junior subordinated debt	7.57% - 8.50%		2030 - 2046		422		536
Total AIG general borrowings					19,285		19,106
AIG borrowings supported by assets:^(a)
MIP notes payable	2.28% - 8.59%		2016 - 2018		1,372		2,870
Series AIGFP matched notes and bonds payable	0.16% - 7.50%		2017 - 2047		34		34
GIAs, at fair value	0.02% - 7.62%		2016 - 2047		3,276		4,648
Notes and bonds payable, at fair value	0.12% - 10.37%		2016 - 2047		394		818
Total AIG borrowings supported by assets					5,076		8,370
Total debt issued or guaranteed by AIG					24,361		27,476
Debt not guaranteed by AIG:
Other subsidiaries notes, bonds, loans and
mortgages payable	0.06%		2017		2		58
Debt of consolidated investments^(b)	0.00% - 6.6%		2016 - 2062		4,987		3,683
Total debt not guaranteed by AIG					4,989		3,741
Total long term debt				$	29,350	$	31,217

(a) AIG Parent guarantees all such debt, except for MIP notes payable and Series AIGFP matched notes and bonds payable, which are direct obligations of AIG Parent. Collateral posted to third parties was $2.4 billion and $3.5 billion at December 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.

(b) At December 31, 2015, includes debt of consolidated investment vehicles related to real estate investments of $2.4 billion, affordable housing partnership investments and securitizations of $2.2 million, and other securitization vehicles and investments of $359 million, respectively. At December 31, 2014, includes debt of consolidated investment vehicles related to real estate investments of $2.1 billion, affordable housing partnership investments and securitizations of $853 million, and other securitization vehicles and investments of $728 million, respectively.

The following table presents maturities of long-term debt (including unamortized original issue discount, hedge accounting valuation adjustments and fair value adjustments, when applicable), excluding $5 billion in borrowings of debt of consolidated investments:

December 31, 2015			Year Ending
(in millions)		Total		2016		2017		2018		2019		2020		Thereafter
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable	$	17,136	$	992	$	192	$	1,106	$	999	$	1,345	$	12,502
Subordinated debt		-		-		-		-		-		-		-
Junior subordinated debt		1,337		-		-		-		-		-		1,337
AIG Japan Holdings Kabushiki Kaisha		106		-		-		-		106		-		-
AIGLH notes and bonds payable		284		-		-		-		-		-		284
AIGLH junior subordinated debt		422		-		-		-		-		-		422
Total AIG general borrowings		19,285		992		192		1,106		1,105		1,345		14,545
AIG borrowings supported by assets:
MIP notes payable		1,372		245		781		346		-		-		-
Series AIGFP matched notes and
bonds payable		34		-		10		-		-		-		24
GIAs, at fair value		3,276		190		176		464		90		41		2,315
Notes and bonds payable, at fair value		394		192		10		123		-		-		69
Total AIG borrowings supported by assets		5,076		627		977		933		90		41		2,408
Total debt issued or guaranteed by AIG		24,361		1,619		1,169		2,039		1,195		1,386		16,953
Other subsidiaries notes, bonds, loans
and mortgages payable		2		-		2		-		-		-		-
Total	$	24,363	$	1,619	$	1,171	$	2,039	$	1,195	$	1,386	$	16,953

Uncollateralized and collateralized notes, bonds, loans and mortgages payable consisted of the following:

		Uncollateralized		Collateralized
At December 31, 2015		Notes/Bonds/Loans		Loans and
(in millions)		Payable		Mortgages Payable		Total
AIG general borrowings	$	-	$	106	$	106
Other subsidiaries notes, bonds, loans and mortgages payable^*		-		2		2
Total	$	-	$	108	$	108

* AIG does not guarantee any of these borrowings.

Junior Subordinated Debt

In August 2012, we entered into new replacement capital covenants (the New RCCs) for the initial benefit of the holders of our 2.375% Subordinated Notes due 2015 (the Subordinated Notes), in connection with our 5.75% Series A-2 Junior Subordinated Debentures and our 4.875% Series A-3 Junior Subordinated Debentures. We covenanted in each New RCC that, subject to certain exceptions, we would not repay, redeem or purchase, and that none of our subsidiaries would purchase, the applicable series of junior subordinated debentures prior to the scheduled termination date of that New RCC, unless since the date 360 days prior to the date of that repayment, redemption or purchase, we have received a specified amount of net cash proceeds from the sale of common stock or certain other qualifying securities that have certain characteristics that are at least as equity-like as the applicable characteristics of the applicable series of junior subordinated debentures, or we or our subsidiaries have issued a specified amount of common stock in connection with the conversion or exchange of certain convertible or exchangeable securities. In the first quarter of 2013, our obligations under the New RCCs were effectively terminated because one of the termination provisions set forth in the New RCCs was triggered when it was determined that neither series of junior subordinated debentures received equity credit any longer for rating agency purposes.

In 2015, we repurchased approximately $588 million aggregate principal amount of our 8.175% Series A-6 Junior Subordinated Debentures.

AIGLH Junior Subordinated Debentures (Formerly, Liabilities Connected To Trust Preferred Stock)

In connection with our acquisition of AIG Life Holdings, Inc. (AIGLH) in 2001, we entered into arrangements with AIGLH with respect to outstanding AIGLH capital securities. In 1996, AIGLH issued capital securities through a trust to institutional investors and funded the trust with AIGLH junior subordinated debentures issued to the trust with the same terms as the capital securities.

On July 11, 2013, the AIGLH junior subordinated debentures were distributed to holders of the capital securities, the capital securities were cancelled and the trusts were dissolved. At December 31, 2015, the junior subordinated debentures outstanding consisted of $116 million of 8.5 percent junior subordinated debentures due July 2030, $227 million of 8.125 percent junior subordinated debentures due March 2046 and $79 million of 7.57 percent junior subordinated debentures due December 2045, each guaranteed by AIG Parent.

Credit Facilities

On November 5, 2015, we amended and restated the five-year syndicated credit facility entered into on June 19, 2014 (the Previous Facility). The amended and restated five-year syndicated facility (the Five-Year Facility) provides for aggregate commitments by the bank syndicate to provide unsecured revolving loans and/or standby letters of credit of up to $4.5 billion (increased from a $4.0 billion commitment in the Previous Facility) without any limits on the type of borrowings and is scheduled to expire in November 2020 (the Previous Facility was scheduled to expire in June 2019). The increased commitment of $500 million to the Five-Year Facility offsets the effect of the expiration of our $500 million contingent liquidity facility.

At December 31, 2015				Available		Effective
(in millions)		Size		Amount	Expiration	Date
Five-Year Syndicated Credit Facility	$	4,500	$	4,500	November 2020	11/5/2015

CONTINGENCIES, COMMITMENTS AND GUARANTEES

12 Months Ended

Dec. 31, 2015

CONTINGENCIES, COMMITMENTS AND GUARANTEES

CONTINGENCIES, COMMITMENTS AND GUARANTEES

15. 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. On May 19, 2009, a consolidated class action complaint, resulting from the consolidation of eight purported securities class actions filed between May 2008 and January 2009, was 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) in In re American International Group, Inc. 2008 Securities Litigation (the Consolidated 2008 Securities Litigation), asserting claims under the Securities Exchange Act of 1934, as amended (the Exchange Act), and claims under the Securities Act of 1933, as amended (the Securities Act), for allegedly materially false and misleading statements in AIG’s public disclosures from March 16, 2006 to September 16, 2008 relating to, among other things, the Subprime Exposure Issues.

On July 15, 2014 and August 1, 2014, lead plaintiff, AIG and AIG’s outside auditor accepted mediators’ proposals to settle the Consolidated 2008 Securities Litigation against all defendants. On October 22, 2014, AIG made a cash payment of $960 million, which is being held in escrow until all funds are distributed. On March 20, 2015, the Court issued an Order and Final Judgment approving the class settlement and dismissing the action with prejudice, and the AIG settlement became final on June 29, 2015.

Individual Securities Litigations. Between November 18, 2011 and February 9, 2015, eleven separate, though similar, securities actions (Individual Securities Litigations) 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 a defendant AIG’s outside auditor and two such actions also name as defendants the underwriters of various securities offerings). Two of the actions were voluntarily dismissed. On September 10, 2015, the Southern District of New York granted AIG’s motion to dismiss some of the claims in the Individual Securities Litigations in whole or in part. AIG has settled seven of the nine remaining 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 (the California Action) that is substantially similar to those in the Consolidated 2008 Securities Litigation and the two remaining Individual Securities Litigations pending in the Southern District of New York. On July 10, 2015, AIG filed a motion to stay the California Action. On September 18, 2015, the court denied AIG’s motion to stay the California Action. On October 23, 2015, AIG filed an appeal of the court’s denial. On January 28, 2016, the California appellate court summarily denied AIG’s appeal. On February 8, 2016, AIG filed a petition for review in the California Supreme Court.

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 the California Action are time-barred (the SDNY Action). On July 10, 2015, AIG filed a motion for summary judgment and the plaintiff in the California Action cross moved to dismiss the SDNY Action.

We have accrued our current estimate of probable loss with respect to these litigations.

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 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 due to our Board’s refusal of SICO’s demand and denied the United States’ motion to dismiss SICO’s direct, non-derivative 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 (the Credit Agreement Shareholder Class); 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 (the Reverse Stock Split Shareholder Class). 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.

On June 15, 2015, the Court of Federal Claims issued its opinion and order in the SICO Treasury Action. The Court found that the United States exceeded its statutory authority by exacting approximately 80 percent of AIG’s equity in exchange for the FRBNY Credit Facility, but that AIG shareholders suffered no damages as a result. SICO argued during trial that the two classes are entitled to a total of approximately $40 billion in damages, plus interest. The Court also found that the United States was not liable to the Reverse Stock Split Class in connection with the reverse stock split vote at the June 30, 2009 annual meeting of shareholders.

On June 17, 2015, the Court of Federal Claims entered judgment stating that “the Credit Agreement Shareholder Class shall prevail on liability due to the Government's illegal exaction, but shall recover zero damages, and that the Reverse Stock Split Shareholder Class shall not prevail on liability or damages.” SICO filed a notice of appeal of the July 2, 2012 dismissal of SICO’s unconstitutional conditions claim, the June 26, 2013 dismissal of SICO’s derivative claims, the Court’s June 15, 2015 opinion and order, and the Court’s June 17, 2015 judgment to the United States Court of Appeals for the Federal Circuit. The United States filed a notice of cross appeal of the Court’s July 2, 2012 opinion and order denying in part its motion to dismiss, the Court’s June 26, 2013 opinion and order denying its motion to dismiss SICO’s direct claims, the Court’s June 15, 2015 opinion and order, and the Court’s June 17, 2015 judgment to the United States Court of Appeals for the Federal Circuit.

On August 25, 2015, SICO filed its appellate brief, in which it stated SICO does not appeal the dismissal of the derivative claims it asserted on behalf of AIG. On December 7, 2015, the United States filed its principal and response brief.

In the Court of Federal Claims, 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.

AIG believes that any indemnification obligation would arise only if: (a) SICO prevails on its appeal and ultimately receives an award of damages; (b) the United States then 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 reversal of the Court of Federal Claim’s June 17, 2015 decision and judgment and 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 this 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. Plaintiffs have now reduced the amount of compensatory damages they are seeking at trial to $1.1 billion. 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 has been remanded to the trial court for general discovery and adjudication of the merits. On November 24, 2015, the trial court ruled that the defendants had a duty to disclose the amount of insurance available at the settlement approval hearings and that the defendants breached that duty. AIG intends to appeal this ruling in the event of an adverse judgment at trial. Trial is expected to commence on February 22, 2016. In 2015, we accrued our current estimate of loss with respect to this 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 $46.5 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.

Legal Reserves

We recorded increases in our legal reserve liability of $25 million and $507 million in the years ended December 31, 2015 and 2014, respectively.

Commitments

We occupy leased space in many locations under various long-term leases and have entered into various leases covering the long-term use of data processing equipment.

The following table presents the future minimum lease payments under operating leases at December 31, 2015:

(in millions)
2016	$	304
2017		234
2018		168
2019		126
2020		93
Remaining years after 2020		210
Total	$	1,135

Rent expense was $327 million, $471 million and $414 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Other Commitments

In the normal course of business, we enter into commitments to invest in limited partnerships, private equity funds and hedge funds and to purchase and develop real estate in the U.S. and abroad. These commitments totaled $2.6 billion at December 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 December 31, 2015 was $208 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 Consolidated Balance Sheets.

Other

See Note 9 to the Consolidated Financial Statements for additional discussion on commitments and guarantees associated with VIEs.
See Note 10 to the Consolidated Financial Statements for additional disclosures about derivatives.
See Note 24 to the Consolidated Financial Statements for additional disclosures about guarantees of outstanding debt.

EQUITY

12 Months Ended

Dec. 31, 2015

EQUITY

EQUITY

16. Equity

Shares Outstanding

The following table presents a rollforward of outstanding shares:

	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Year Ended December 31, 2013
Shares, beginning of year	1,906,611,680	(430,289,745)	1,476,321,935
Shares issued	34,009	24,778	58,787
Shares repurchased	-	(12,317,399)	(12,317,399)
Shares, end of year	1,906,645,689	(442,582,366)	1,464,063,323
Year Ended December 31, 2014
Shares, beginning of year	1,906,645,689	(442,582,366)	1,464,063,323
Shares issued	25,803	15,748	41,551
Shares repurchased	-	(88,177,903)	(88,177,903)
Shares, end of year	1,906,671,492	(530,744,521)	1,375,926,971
Year Ended December 31, 2015
Shares, beginning of year	1,906,671,492	(530,744,521)	1,375,926,971
Shares issued	-	371,806	371,806
Shares repurchased	-	(182,382,160)	(182,382,160)
Shares, end of year	1,906,671,492	(712,754,875)	1,193,916,617

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 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. On June 25, 2015, AIG paid a dividend of $0.125 per share on AIG Common Stock to shareholders of record on June 11, 2015. On September 28, 2015, AIG paid a dividend of $0.28 per share on AIG Common Stock to shareholders of record on September 14, 2015. On December 21, 2015, AIG paid a dividend of $0.28 per share on AIG Common Stock to shareholders of record on December 7, 2015.

Repurchase of AIG Common Stock

Our Board of Directors has authorized the repurchase of shares of AIG Common Stock through a series of actions. On December 16, 2015, our Board of Directors authorized an additional increase of $3.0 billion to its previous share repurchase authorization, resulting in an aggregate remaining authorization on such date of approximately $4.1 billion. As of December 31, 2015, approximately $3.3 billion remained under our share repurchase authorization. Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise (including through the purchase of warrants). Certain of our share repurchases have been and may from time to time be effected through Exchange Act Rule 10b5-1 repurchase plans.

For the year ended December 31, 2013, we repurchased approximately 12 million shares of AIG Common Stock for an aggregate purchase price of approximately $597 million.

For the year ended December 31, 2014, we repurchased approximately 88 million shares of AIG Common Stock for an aggregate purchase price of approximately $4.9 billion.

In the second, third and fourth quarters of 2014, we executed five accelerated stock repurchase (ASR) agreements with third-party financial institutions. The total number of shares of AIG Common Stock repurchased in the twelve-month period ended December 31, 2014, and the aggregate purchase price of those shares, each as set forth above, reflect our payment of approximately $3.1 billion in the aggregate under the ASR agreements and the receipt of approximately 53 million shares of AIG Common Stock in the aggregate, including the initial receipt of 70 percent of the total notional share equivalent, or approximately 9.2 million shares of AIG Common Stock, under an ASR agreement executed in December 2014. That ASR agreement settled in January 2015, at which time we received approximately 3.5 million additional shares of AIG Common Stock based on a formula specified by the terms of the ASR agreement.

For the year ended December 31, 2015, we repurchased approximately 182 million shares of AIG Common Stock for an aggregate purchase price of approximately $10.7 billion.

The total number of shares of AIG Common Stock repurchased for the year ended December 31, 2015 includes (but the aggregate purchase price 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 factor

Accumulated Other Comprehensive Income

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

	Unrealized Appreciation
	(Depreciation) of Fixed
	Maturity Investments			Unrealized
	on Which Other-Than-			Appreciation		Foreign		Retirement
	Temporary Credit			(Depreciation)		Currency		Plan
	Impairments			of All Other		Translation		Liabilities
(in millions)	Were Taken			Investments		Adjustments		Adjustment		Total
Balance, January 1, 2013, net of tax	$	575	$	13,446	$	(403)	$	(1,044)	$	12,574
Change in unrealized
appreciation (depreciation) of investments		464		(14,069)		-		-		(13,605)
Change in deferred policy
acquisition costs adjustment and other		(127)		1,000		-		-		873
Change in future policy benefits		79		2,658		-		-		2,737
Change in foreign currency
translation adjustments		-		-		(454)		-		(454)
Net actuarial gain		-		-		-		1,012		1,012
Prior service credit		-		-		-		(51)		(51)
Change in deferred tax asset (liability)		(55)		3,738		(102)		(330)		3,251
Total other comprehensive income (loss)		361		(6,673)		(556)		631		(6,237)
Noncontrolling interests		-		(16)		(7)		-		(23)
Balance, December 31, 2013, net of tax	$	936	$	6,789	$	(952)	$	(413)	$	6,360
Change in unrealized
appreciation of investments		156		7,564		-		-		7,720
Change in deferred policy
acquisition costs adjustment and other		68		(495)		-		-		(427)
Change in future policy benefits		(133)		(1,113)		-		-		(1,246)
Change in foreign currency
translation adjustments		-		-		(833)		-		(833)
Net actuarial loss		-		-		-		(815)		(815)
Prior service credit		-		-		-		(49)		(49)
Change in deferred tax asset (liability)		16		(418)		1		308		(93)
Total other comprehensive income (loss)		107		5,538		(832)		(556)		4,257
Noncontrolling interests		-		-		-		-		-
Balance, December 31, 2014, net of tax	$	1,043	$	12,327	$	(1,784)	$	(969)	$	10,617
Change in unrealized
depreciation of investments		(488)		(10,519)		-		-		(11,007)
Change in deferred policy
acquisition costs adjustment and other		(146)		1,265		-		-		1,119
Change in future policy benefits		92		1,112		-		-		1,204
Change in foreign currency
translation adjustments		-		-		(1,129)		-		(1,129)
Net actuarial gain		-		-		-		413		413
Prior service credit		-		-		-		(239)		(239)
Change in deferred tax asset (liability)		195		1,380		29		(51)		1,553
Total other comprehensive income (loss)		(347)		(6,762)		(1,100)		123		(8,086)
Noncontrolling interests		-		(1)		(5)		-		(6)
Balance, December 31, 2015, net of tax	$	696	$	5,566	$	(2,879)	$	(846)	$	2,537

The following table presents the other comprehensive income (loss) reclassification adjustments for the years ended December 31, 2015, 2014 and 2013:

		Unrealized Appreciation
		(Depreciation) of Fixed
		Maturity Securities		Unrealized
		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
December 31, 2013
Unrealized change arising during period	$	507	$	(9,556)	$	(454)	$	851	$	(8,652)
Less: Reclassification adjustments
included in net income		91		855		-		(110)		836
Total other comprehensive income (loss),
before income tax expense (benefit)		416		(10,411)		(454)		961		(9,488)
Less: Income tax expense (benefit)		55		(3,738)		102		330		(3,251)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	361	$	(6,673)	$	(556)	$	631	$	(6,237)

December 31, 2014
Unrealized change arising during period	$	119	$	6,488	$	(833)	$	(866)	$	4,908
Less: Reclassification adjustments
included in net income		28		532		-		(2)		558
Total other comprehensive income (loss),
before income tax expense (benefit)		91		5,956		(833)		(864)		4,350
Less: Income tax expense (benefit)		(16)		418		(1)		(308)		93
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	107	$	5,538	$	(832)	$	(556)	$	4,257

December 31, 2015
Unrealized change arising during period	$	(471)	$	(7,068)	$	(1,129)	$	285	$	(8,383)
Less: Reclassification adjustments
included in net income		71		1,074		-		111		1,256
Total other comprehensive income (loss),
before income tax expense (benefit)		(542)		(8,142)		(1,129)		174		(9,639)
Less: Income tax expense (benefit)		(195)		(1,380)		(29)		51		(1,553)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(347)	$	(6,762)	$	(1,100)	$	123	$	(8,086)

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 Consolidated Statements of Income:

	Amount Reclassified
	from Accumulated Other
Years Ended December 31,	Comprehensive Income						Affected Line Item in the
(in millions)	2015			2014		2013	Consolidated Statements of Income
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were recognized

Investments	$	71	$	28	$	91	Other realized capital gains
Total		71		28		91
Unrealized appreciation (depreciation) of all other investments
Investments		1,054		669		2,452	Other realized capital gains
Deferred acquisition costs adjustment		3		(20)		(28)	Amortization of deferred policy acquisition costs
Future policy benefits		17		(117)		(1,569)	Policyholder benefits and losses incurred
Total		1,074		532		855
Change in retirement plan liabilities adjustment
Prior-service costs		214		47		47	*
Actuarial gains/(losses)		(103)		(49)		(157)	*
Total		111		(2)		(110)
Total reclassifications for the period	$	1,256	$	558	$	836

* These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 20 to the 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

EARNINGS PER SHARE (EPS)

12 Months Ended

Dec. 31, 2015

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)

17. 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:

Years Ended December 31,
(dollars in millions, except per share data)		2015		2014		2013
Numerator for EPS:
Income from continuing operations	$	2,222	$	7,574	$	9,008
Less: Net income (loss) from continuing operations attributable to noncontrolling interests		26		(5)		7
Income attributable to AIG common shareholders from continuing operations		2,196		7,579		9,001
Income (loss) from discontinued operations		-		(50)		84
Net income attributable to AIG common shareholders	$	2,196	$	7,529	$	9,085
Denominator for EPS:
Weighted average shares outstanding — basic		1,299,825,350		1,427,959,799		1,474,171,690
Dilutive shares		34,639,533		19,593,853		7,035,107
Weighted average shares outstanding — diluted^*		1,334,464,883		1,447,553,652		1,481,206,797
Income per common share attributable to AIG:
Basic:
Income from continuing operations	$	1.69	$	5.31	$	6.11
Income from discontinued operations	$	-	$	(0.04)	$	0.05
Net Income attributable to AIG	$	1.69	$	5.27	$	6.16
Diluted:
Income from continuing operations	$	1.65	$	5.24	$	6.08
Income from discontinued operations	$	-	$	(0.04)	$	0.05
Net Income attributable to AIG	$	1.65	$	5.20	$	6.13

* Dilutive shares primarily result from share-based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of the recapitalization in January 2011. The number of shares excluded from diluted shares outstanding were 0.2 million, 0.3 million and 38 million for the years ended December 31, 2015, 2014 and 2013, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

STATUTORY FINANCIAL DATA AND RESTRICTIONS

12 Months Ended

Dec. 31, 2015

STATUTORY FINANCIAL DATA AND RESTRICTIONS

STATUTORY FINANCIAL DATA AND RESTRICTIONS

18. STATUTORY FINANCIAL DATA AND RESTRICTIONS

The following table presents statutory net income (loss) and capital and surplus for our Non-Life Insurance Companies and our Life Insurance Companies in accordance with statutory accounting practices:

(in millions)		2015		2014		2013
Years Ended December 31,
Statutory net income (loss)^{(a)(b)(c)(d)(e)}:
Non-Life Insurance Companies:
Domestic^(d)(e)	$	1,202	$	3,265	$	11,440
Foreign		521		1,252		842
Total Non-Life Insurance Companies		1,723		4,517		12,282
Life Insurance Companies:
Domestic		2,672		2,865		5,047
Foreign		(16)		(9)		(9)
Total Life Insurance Companies		2,656		2,856		5,038
At December 31,
Statutory capital and surplus^(a)(c)(d)(e):
Non-Life Insurance Companies:
Domestic^(d)(e)	$	24,358	$	27,621
Foreign		11,465		12,183
Total Non-Life Insurance Companies		35,823		39,804
Life Insurance Companies:
Domestic		8,287		9,879
Foreign		422		437
Total Life Insurance Companies		8,709		10,316
Aggregate minimum required statutory capital and surplus:
Non-Life Insurance Companies^(f):
Domestic^(f)	$	6,493	$	7,540
Foreign		7,554		8,210
Total Non-Life Insurance Companies		14,047		15,750
Life Insurance Companies:
Domestic		3,658		3,674
Foreign		45		46
Total Life Insurance Companies		3,703		3,720

(a) Excludes discontinued operations and other divested businesses. Statutory capital and surplus and net income (loss) with respect to foreign operations are as of November 30.

(b) Non-Life Insurance Companies did not recognize material statutory gains related to legal entity simplification (restructuring) in 2015. Non-Life Insurance Companies include $0 and approximately $8.0 billion of recognized statutory gains related to legal entity simplification (restructuring) in 2014 and 2013, respectively. These recognized gains were largely offset by reductions in unrealized gains; therefore, there was no material impact to total surplus.

(c) In aggregate, the 2014 Non-Life Insurance Companies and Life Insurance Companies statutory net income (loss) and statutory capital and surplus amounts increased by $115 million and $303 million, respectively, compared to the amounts previously reported in our Annual Report on Form 10-K for the year ended December 31, 2014, due to finalization of statutory filings.

(d) Non-Life Insurance Companies recognized $2.75 billion of capital contributions from AIG Parent in their statutory financial statements as of December 31, 2015, related to the reserve strengthening in the fourth quarter of 2015. These capital contributions were received in January 2016.

(e) For the year ended December 31, 2015, excluded Eaglestone Reinsurance Company (Eaglestone), a reinsurer of run-off lines of business from affiliates within Non-Life Insurance Companies, which was transferred from the Non-Life Insurance Companies to Corporate and Other. The statutory net income and statutory capital and surplus of Eaglestone at December 31, 2015 were $22.8 million and $1.9 billion, respectively. The statutory surplus included $150 million of capital contribution received from AIG Parent in January 2016.

(f) For the year ended December 31, 2015, excluded $274 million for Eaglestone.

Our insurance subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by domestic and foreign insurance regulatory authorities. The principal differences between statutory financial statements and financial statements prepared in accordance with U.S. GAAP for domestic companies are that statutory financial statements do not reflect DAC, some bond portfolios may be carried at amortized cost, investment impairments are determined in accordance with statutory accounting practices, assets and liabilities are presented net of reinsurance, policyholder liabilities are generally valued using more conservative assumptions and certain assets are non-admitted.

For domestic insurance subsidiaries, aggregate minimum required statutory capital and surplus is based on the greater of the RBC level that would trigger regulatory action or minimum requirements per state insurance regulation. Capital and surplus requirements of our foreign subsidiaries differ from those prescribed in the U.S., and can vary significantly by jurisdiction. At both December 31, 2015 and 2014, all domestic and foreign insurance subsidiaries individually exceeded the minimum required statutory capital and surplus requirements and all domestic insurance subsidiaries individually exceeded RBC minimum required levels.

At December 31, 2015 and 2014, with the exception of one permitted practice adopted by one domestic life insurance subsidiary in 2015, described below, the use of prescribed or permitted statutory accounting practices by our domestic and foreign insurance subsidiaries did not result in reported statutory surplus or risk-based capital that is significantly different from the statutory surplus or risk-based capital that would have been reported had NAIC statutory accounting practices or the prescribed regulatory accounting practices of their respective foreign regulatory authority been followed in all respects for domestic and foreign insurance entities. As described in Note 12, our domestic insurance subsidiaries domiciled in New York and Pennsylvania discount non-tabular workers’ compensation reserves based on the prescribed or approved regulations in each of those states. This practice did not have a material impact on our statutory surplus, statutory net income (loss), or risk-based capital. In 2015, a domestic life insurance subsidiary domiciled in Texas adopted a permitted statutory accounting practice to report derivatives used to hedge interest rate risk on product-related embedded derivatives at amortized cost instead of fair value. The initial adoption of the permitted practice resulted in a reduction to the statutory surplus of our subsidiary of $366 million at December 31, 2015.

The NAIC Model Regulation “Valuation of Life Insurance Policies” (Regulation XXX) requires U.S. life insurers to establish additional statutory reserves for term life insurance policies with long-term premium guarantees and universal life policies with secondary guarantees (ULSGs). In addition, NAIC Actuarial Guideline 38 (Guideline AXXX) clarifies the application of Regulation XXX as to these guarantees, including certain ULSGs.

Domestic insurance subsidiaries manage the capital impact of statutory reserve requirements under Regulation XXX and Guideline AXXX through intercompany reinsurance transactions. The affiliated life insurers providing reinsurance capacity for such transactions are fully licensed insurance companies and are not formed under captive insurance laws. Under one of these intercompany reinsurance arrangements, certain Regulation XXX and Guideline AXXX reserves related to new and in-force business are ceded to an affiliated U.S. life insurer, which is a licensed life insurer in the state of Missouri and an accredited reinsurer in the state of Texas. As an accredited reinsurer, this affiliated life insurer is not required to post any collateral such as letters of credit or assets in trust.

Under the other intercompany reinsurance arrangement, certain Regulation XXX and Guideline AXXX reserves related to a closed block of in-force business are ceded to an affiliated off-shore life insurer, which is licensed as a class E insurer under Bermuda law. Bermuda law permits the off-shore life insurer to record an asset that effectively reduces the statutory reserves for the assumed reinsurance to the level that would be required under U.S. GAAP. Letters of credit are used to support the credit for reinsurance provided by the affiliated off-shore life insurer. The letters of credit are subject to reimbursement by AIG Parent in the event of a drawdown. See Note 7 for additional information regarding these letters of credit.

Subsidiary Dividend Restrictions

Payments of dividends to us by our insurance subsidiaries are subject to certain restrictions imposed by regulatory authorities. With respect to our domestic insurance subsidiaries, the payment of any dividend requires formal notice to the insurance department in which the particular insurance subsidiary is domiciled. For example, unless permitted by the Superintendent of Financial Services, property casualty companies domiciled in New York generally may not pay dividends to shareholders that, in any 12-month period, exceed the lesser of 10 percent of such company’s statutory policyholders’ surplus or 100 percent of its “adjusted net investment income,” for the previous year, as defined. Generally, less severe restrictions applicable to both property casualty and life insurance companies exist in most of the other states in which our insurance subsidiaries are domiciled. Under the laws of many states, an insurer may pay a dividend without prior approval of the insurance regulator when the amount of the dividend is below certain regulatory thresholds. Other foreign jurisdictions may restrict the ability of our foreign insurance subsidiaries to pay dividends. Various other regulatory restrictions also limit cash loans and advances to us by our subsidiaries.

Largely as a result of these restrictions, approximately $41.6 billion of the statutory capital and surplus of our consolidated insurance subsidiaries were restricted from transfer to AIG Parent without prior approval of state insurance regulators at December 31, 2015.

To our knowledge, no AIG insurance company is currently on any regulatory or similar “watch list” with regard to solvency.

Parent Company Dividend Restrictions

At December 31, 2015, our ability to pay dividends is not subject to any significant contractual restrictions, but remains subject to regulatory restrictions. See Note 16 herein for additional information about our ability to pay dividends to our shareholders.

SHARE-BASED AND OTHER COMPENSATION PLANS

12 Months Ended

Dec. 31, 2015

SHARE-BASED AND OTHER COMPENSATION PLANS

SHARE-BASED AND OTHER COMPENSATION PLANS

19. SHARE-BASED AND OTHER COMPENSATION PLANS

The following table presents our share-based compensation expense:

Years Ended December 31,
(in millions)		2015		2014		2013
Share-based compensation expense - pre-tax^*	$	365	$	349	$	457
Share-based compensation expense - after tax		237		227		297

* For the years ended December 31, 2015, 2014 and 2013, $19 million, $86 million and $315 million, respectively, of pre-tax compensation expense was attributed to unsettled liability-classified awards, the values of which are based on our share price at the reporting date. Our share price was $61.97, $56.01 and $51.05 at December 31, 2015, 2014 and 2013, respectively. In addition, we recognized $147 million, $120 million and $101 million for immediately vested stock-settled awards issued to retirement eligible employees in 2015, 2014 and 2013, respectively.

Employee Plans

The Company grants annual Long Term Incentive (LTI) awards under the 2013 Long Term Incentive Plan (2013 LTIP), which is governed by the AIG 2013 Omnibus Incentive Plan (2013 Plan). The 2013 Plan replaced the AIG 2010 Stock Incentive Plan (2010 Plan) as of May 15, 2013 but does not affect the terms and conditions of any award issued under the 2010 Plan. The 2013 Plan is currently the only plan under which share-settled awards can be made.

As of December 31, 2015, the Starr International Company Inc. Deferred Compensation Profit Participation Plans (the SICO Plans) are the only legacy plans for which awards remain unvested.

Our share-settled awards are settled with previously acquired shares held in AIG’s treasury. Share awards made by SICO are settled by SICO.

AIG 2013 Omnibus Incentive Plan

The 2013 Plan was adopted at the 2013 Annual Meeting of Shareholders and provides for the grants of share-based awards to our employees and non-employee directors. The total number of shares that may be granted under the 2013 Plan (the reserve) is the sum of 1) 45 million shares of AIG Common Stock, plus 2) the number of authorized shares that remained available for issuance under the 2010 Plan when the 2013 Plan became effective, plus 3) the number of shares of AIG Common Stock relating to outstanding awards under the 2010 Plan at the time the 2013 Plan became effective that subsequently are forfeited, expired, terminated or otherwise lapse or are settled in cash. Each share-based unit granted under the 2013 Plan reduces the number of shares available for future grants by one share. However, shares with respect to awards that are forfeited, expired or settled for cash, and shares withheld for taxes on awards (other than options and stock appreciation rights (SARs) awards) are returned to the reserve.

During 2015, performance share units (PSUs) and deferred stock units (DSUs) were granted under the 2013 Plan and 45,670,678 shares are available for future grants as of December 31, 2015. PSUs were issued to employees as part of our long-term incentive program in March 2015 and are also issued for off-cycle grants, which are made from time to time during the year as sign-on awards to new hires or as a result of a change in employee status.

AIG 2010 Stock Incentive Plan

The 2010 Plan was adopted at the 2010 Annual Meeting of Shareholders. The total number of shares of AIG Common Stock that could be granted under the 2010 Plan was 60 million. During 2013, we granted PSUs, DSUs and restricted stock units (RSUs) under the 2010 Plan. Each PSU, DSU and RSU awarded reduced the number of shares available for future grants by one share. Subsequent to the adoption of the 2013 Plan in May 2013, no additional grants were made under the 2010 Plan.

Share-settled Awards

AIG 2013 Long Term Incentive Plan

The 2013 LTIP provides for the annual grant of PSUs to certain employees, including our senior executive officers and other highly compensated employees. Each recipient of an award is granted a number of PSUs (the target) that provides the opportunity to receive shares of AIG Common Stock based on AIG achieving specified performance goals at the end of a three-year performance period. These performance goals are pre-established by AIG’s Compensation and Management Resources Committee for each annual grant and may differ from year to year. The actual number of PSUs earned can vary from zero to 150 percent of the target depending on AIG’s performance relative to a specified peer group. Vesting occurs in three equal installments beginning on January 1 of the year immediately following the end of a performance period and January 1 of each of the next two years. Recipients must be employed at each vesting date to be entitled to share delivery, except upon the occurrence of an accelerated vesting event, such as an involuntary termination without cause, disability, retirement or death during the vesting period.

LTI awards granted in 2015 accrue dividend equivalent units (DEUs) in the form of additional PSUs whenever a cash dividend is declared on shares of AIG Common Stock; the DEUs are subject to the same vesting terms and conditions as the underlying PSUs. Neither dividends nor DEUs accrue on unvested PSUs or the shares underlying the PSUs for LTI awards granted in 2014 and 2013.

Performance Share Unit Goals and Valuation

The performance goals used to measure LTI awards granted in 2015 and 2014 pertain to AIG’s total shareholder return (TSR) and credit default swap (CDS) spread, weighted 75 percent and 25 percent, respectively, in each case relative to a specified peer group. The goals for the 2013 awards are AIG’s growth in tangible book value per common share (TBVPS) (excluding accumulated other comprehensive income) and TSR weighted 50 percent each, in each case relative to a specified peer group. The fair value of PSUs to be earned based on AIG’s TBVPS and CDS spreads was based on the closing price of AIG Common Stock on the grant date. However, PSUs granted in 2014 and 2013 that vest based on these goals were discounted by the present value of estimated dividends to be paid during the respective vesting periods as these awards do not accrue dividends or DEUs. The fair value of PSUs to be earned based on AIG’s TSR relative to a specified peer group was determined on the grant date using a Monte Carlo simulation.

The following table presents the assumptions used to estimate the fair value of PSUs that vest based on AIG’s TSR:

	2015		2014		2013
Expected dividend yield^(a)	1.78	%	1.13	%	0.38	%
Expected volatility^(b)	22.71	%	23.66	%	30.79	%
Risk-free interest rate^(c)	1.01	%	0.76	%	0.50	%

(a) The dividend yield is the projected annualized AIG dividend yield estimated by Bloomberg Professional service as of the valuation date.

(b) The expected volatility is based on the implied volatilities of actively traded stock options from the valuation date through the end of the PSU performance period as estimated by Bloomberg Professional service.

(c) The risk-free interest rate is the continuously compounded interest rate for the term between the valuation date and the end of the performance period that is assumed to be constant and equal to the interpolated value between the closest data points on the U.S. dollar LIBOR-swap curve as of the valuation date

The following table summarizes outstanding share-settled LTI awards^(a):

				Weighted Average
As of or for the Year	Number of PSUs^(b)			Grant-Date Fair Value
Ended December 31, 2015	2015 LTI	2014 LTI	2013 LTI		2015 LTI		2014 LTI		2013 LTI
Unvested, beginning of year	-	4,036,527	4,066,182	$	-	$	48.72	$	37.09
Granted	6,445,639	10,225	-		54.55		52.83		-
Vested	(3,212,976)	(1,270,263)	(1,593,595)		54.09		48.56		37.09
Forfeited	(185,705)	(217,130)	(222,478)		53.66		48.78		37.38
Unvested, end of year	3,046,958	2,559,359	2,250,109	$	55.08	$	48.82	$	37.07

(a) Excludes SICO awards, DSUs and options, which are discussed under the SICO Plans, Non-Employee Plans and Stock Options sections, respectively.

(b) Represents target number of PSUs granted, and does not reflect potential increases or decreases that could result from the final outcome of the performance goals to be determined after the applicable performance period ends. The performance period for 2013 LTI awards ended December 31, 2015; the number of earned PSUs based on the results of the 2013 performance goals will be adjudicated in March 2016 by the Compensation and Management Resources Committee.

At December 31, 2015, the total unrecognized compensation cost (net of expected forfeitures) for the unvested PSUs was $190 million and the weighted-average and expected period of years over which that cost is expected to be recognized are 1.29 years and 4 years

SICO Plans

The SICO Plans, which have been closed to new participants since 2004, provide that shares of AIG Common Stock currently held by SICO are set aside for the benefit of the participants and distributed upon retirement. The SICO Board of Directors currently may permit an early payout of shares under certain circumstances. Prior to payout, the participant is not entitled to vote, dispose of or receive dividends with respect to such shares, and shares are subject to forfeiture under certain conditions, including but not limited to the participant’s termination of employment with us prior to normal retirement age. A significant portion of the awards under the SICO Plans vest the year after the participant reaches age 65, provided that the participant remains employed by us through age 65. The portion of the awards for which early payout is available vests on the applicable payout date.

SICO Plan awards issued in the form of restricted stock were valued based on the closing price of AIG’s Common Stock on the grant date. Although none of the costs of the various benefits provided under the SICO Plans have been paid by us, we have recorded compensation expense for the deferred compensation amounts payable to our employees by SICO, with an offsetting amount credited to Additional paid-in capital reflecting amounts deemed contributed by SICO. As of December 31, 2015, 31,964 shares of restricted stock remain unvested; the total unrecognized compensation cost (net of expected forfeitures) is $10 million and the weighted average and expected period of years over which those costs are expected to be recognized are 5.28 years and 21 years, respectively.

Non-Employee Plans

Our non-employee directors, who serve on our Board of Directors, receive share-based compensation in the form of fully vested deferred stock units (DSUs) with delivery deferred until retirement from the Board. DSUs granted in 2015, 2014 and 2013 accrue DEUs equal to the amount of any regular quarterly dividend that would have been paid by AIG if the shares of AIG Common Stock underlying the DSUs had been outstanding. In 2015, 2014 and 2013, we granted to non-employee directors 32,342, 28,477 and 25,735 DSUs, respectively, under the 2013 Plan, and recognized expense of $1.9 million, $1.5 million and $1.2 million, respectively.

Stock Options

Options granted under the AIG 2007 Stock Incentive Plan and the 1999 Stock Option Plan generally vested over four years (25 percent vesting per year) and expire 10 years from the date of grant. All outstanding options are vested and out of the money at December 31, 2015. There were no stock options granted since 2008. The aggregate intrinsic value for all unexercised options is zero.

The following table provides a roll forward of stock option activity:

					Weighted
					Average
					Remaining
		Weighted Average			Contractual
As of or for the Year Ended December 31, 2015	Shares	Exercise Price			Life
Options:
Exercisable at beginning of year	202,275		$	1,037.74	2.17
Expired	(108,763)		$	1,261.25
Exercisable at end of year	93,512		$	777.78	2.16

Cash-settled Awards

Share-based cash-settled awards are recorded as liabilities until the final payout is made or the award is replaced with a stock-settled award. Compensation expense is recognized over the vesting periods, unless the award is fully vested on the grant date in which case the entire award value is immediately recognized as expense.

Unlike stock-settled awards, which generally have a fixed grant-date fair value (unless the award is subsequently modified), the fair value of unsettled or unvested cash-settled awards is remeasured at the end of each reporting period based on the change in fair value of one share of AIG Common Stock. The liability and corresponding expense are adjusted accordingly until the award is settled.

During the period we were subject to Troubled Asset Relief Program (TARP) restrictions, we issued various cash-settled share-based grants, including Stock Salary, TARP RSU awards, and other cash-settled RSU awards, to certain of our most highly compensated employees and executive officers in the form of restricted stock units that were either fully vested with payment deferred, or subject to specified service and performance conditions. After the repayment of our TARP obligations in December 2012, all performance conditions were satisfied; as a result, we no longer issue awards that are subject to TARP restrictions.

Restricted Stock Units

Stock Salary was earned and accrued at the same time or times as the salary would otherwise be paid in cash and is generally settled in installments on the first, second or third anniversary of grant in accordance with the terms of an employee’s award. Stock Salary grants were generally issued in the form of fully vested RSUs and are settled in cash based on the value of AIG Common Stock on the applicable settlement date. During 2015, 2014 and 2013, we paid $42 million, $89 million and $180 million, respectively, to settle awards. For those awards that were vested and unsettled at the end of each year, we recognized charges of $2 million, $7 million and $73 million in compensation expense for the years ended December 31, 2015, 2014 and 2013, respectively, to reflect fluctuations in the value of AIG Common Stock. At December 31, 2015, the number of vested but unsettled RSUs totaled 24,405, all of which were settled in January 2016.

In addition, other TARP-related cash-settled RSU granted and issued in March 2013 and 2012 remained unvested as follows:

		Number of Units
Year Ended December 31, 2015		RSUs^*
Unvested, beginning of year		1,404,645
Granted		-
Vested		(975,715)
Forfeited		(15,972)
Unvested, end of year		412,958
Net compensation expense for the year (in millions)	$	17

* Total unrecognized compensation as of December 31, 2015 is $1 million; the unvested RSUs will vest and settle in March 2016.

Long Term Incentive Plans

Certain employees were provided the opportunity to receive additional compensation in the form of cash and cash-settled SARs under the 2011 LTIP award or 100 percent cash for the 2012 LTIP award if certain performance measures were met. The ultimate value of these awards was contingent on AIG achieving performance measures over a two-year performance period and such value could range from zero to twice the target amount. Subsequent to the performance period, the earned awards were subject to an additional time-vesting period. This resulted in a graded vesting schedule for the cash portion of up to two years, while the SARs portion cliff-vests two years after the end of performance period.

The cash portion of the awards expensed in 2015, 2014 and 2013 totaled approximately $19 million, $57 million and $249 million, respectively. All payments remaining under these awards were made in January 2016.

EMPLOYEE BENEFITS

12 Months Ended

Dec. 31, 2015

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS

20. EMPLOYEE BENEFITS

Pension Plans

We offer various defined benefit plans to eligible employees.

The U.S. AIG Retirement Plan (the qualified plan) is a noncontributory defined benefit plan that is subject to the provisions of ERISA. U.S. salaried employees who are employed by a participating company and who have completed 12 months of continuous service are eligible to participate in the plan. Effective April 1, 2012, the qualified plan was converted to a cash balance formula comprised of pay credits based on six percent of a plan participant’s annual compensation (subject to IRS limitations) and annual interest credits. In addition, employees can take their vested benefits when they leave AIG as a lump sum or an annuity option after completing at least three years of service. However, employees satisfying certain age and service requirements (i.e. grandfathered employees) remain covered under the old plan formula, which is based upon a percentage of final average compensation multiplied by years of credited service, up to 44 years. Grandfathered employees will receive the higher of the benefits under the cash balance or final average pay formula at retirement. Non-U.S. defined benefit plans are generally either based on the employee’s years of credited service and compensation in the years preceding retirement or on points accumulated based on the employee’s job grade and other factors during each year of service.

In the U.S. we also sponsor several non-qualified unfunded defined benefit plans for certain employees, including key executives, designed to supplement pension benefits provided by the qualified plan. These include the AIG Non-Qualified Retirement Income Plan (AIG NQRIP), which provides a benefit equal to the reduction in benefits under the qualified plan as a result of federal tax limitations on compensation and benefits payable, and the Supplemental Executive Retirement Plan (SERP), which provides additional retirement benefits to designated executives. Under the SERP, an annual benefit accrues at a percentage of final average pay multiplied by each year of credited service, not greater than 60 percent of final average pay, reduced by any benefits from the current and any predecessor retirement plans (including the AIG NQRIP), Social Security, and any benefits accrued under a Company sponsored foreign deferred compensation plan.

Plan Freeze

On August 27, 2015, we amended the qualified plan, the AIG NQRIP and the SERP, to freeze benefit accruals effective January 1, 2016. Consequently, these plans were closed to new participants and current participants ceased earning additional benefits as of December 31, 2015. However, interest credits continue to accrue on the existing cash balance accounts and participants are continuing to accrue years of service for purposes of vesting and early retirement eligibility and subsidies as they continue to be employed by AIG.

Postretirement Plans

We also provide postretirement medical care and life insurance benefits in the U.S. and in certain non-U.S. countries. Eligibility in the various plans is generally based upon completion of a specified period of eligible service and attaining a specified age. Overseas, benefits vary by geographic location.

U.S. postretirement medical and life insurance benefits are based upon the employee attaining the age of 55 and having a minimum of ten years of service. Eligible employees who have medical coverage can enroll in retiree medical upon termination of employment. Medical benefits are contributory, while the life insurance benefits are generally non-contributory. Retiree medical contributions vary from none for pre-1989 retirees to actual premium payments reduced by certain subsidies for post-1992 retirees. These contributions are subject to adjustment annually. Other cost sharing features of the medical plan include deductibles, coinsurance and Medicare coordination. Effective April 1, 2012, the retiree medical employer subsidy for the AIG Postretirement plan was eliminated for employees who were not grandfathered. Additionally, new employees hired after December 31, 2012 are not eligible for retiree life insurance.

The following table presents the funded status of the plans reconciled to the amount reported in the Consolidated Balance Sheets. The measurement date for most of the non-U.S. defined benefit pension and postretirement plans is November 30, consistent with the fiscal year end of the sponsoring companies. For all other plans, measurement occurs as of December 31.

As of or for the Years Ended		Pension								Postretirement^(a)
December 31,		U.S. Plans^(b)			Non-U.S. Plans^(b)					U.S. Plans			Non-U.S. Plans
(in millions)		2015		2014		2015		2014		2015		2014		2015		2014
Change in projected benefit obligation:
Benefit obligation, beginning of year	$	5,769	$	4,882	$	1,099	$	1,072	$	229	$	217	$	64	$	52
Service cost		192		173		43		42		5		4		3		2
Interest cost		220		228		25		29		8		9		3		2
Actuarial (gain) loss		(423)		780		(16)		114		(23)		10		9		11
Benefits paid:
AIG assets		(17)		(15)		(9)		(15)		(11)		(11)		(1)		(1)
Plan assets		(285)		(279)		(24)		(24)		-		-		-		-
Plan amendment		(132)		-		24		(1)		-		-		-		-
Settlements		-		-		(15)		(9)		-		-		-		-
Foreign exchange effect		-		-		(67)		(107)		-		-		(3)		(2)
Acquisitions		-		-		72		-		-		-		-		-
Other		-		-		14		(2)		-		-		-		-
Projected benefit obligation, end of year	$	5,324	$	5,769	$	1,146	$	1,099	$	208	$	229	$	75	$	64
Change in plan assets:
Fair value of plan assets, beginning
of year	$	4,111	$	4,024	$	708	$	738	$	-	$	-	$	-	$	-
Actual return on plan assets, net of expenses		(8)		266		47		71		-		-		-		-
AIG contributions		558		115		62		67		11		11		1		1
Benefits paid:
AIG assets		(17)		(15)		(9)		(15)		(11)		(11)		(1)		(1)
Plan assets		(285)		(279)		(24)		(24)		-		-		-		-
Settlements		-		-		(15)		(8)		-		-		-		-
Foreign exchange effect		-		-		(44)		(75)		-		-		-		-
Acquisitions		-		-		35		-		-		-		-		-
Other		-		-		13		(46)		-		-		-		-
Fair value of plan assets, end of year	$	4,359	$	4,111	$	773	$	708	$	-	$	-	$	-	$	-
Funded status, end of year	$	(965)	$	(1,658)	$	(373)	$	(391)	$	(208)	$	(229)	$	(75)	$	(64)
Amounts recognized in the balance
sheet:
Assets	$	-	$	-	$	46	$	46	$	-	$	-	$	-	$	-
Liabilities		(965)		(1,658)		(419)		(437)		(208)		(229)		(75)		(64)
Total amounts recognized	$	(965)	$	(1,658)	$	(373)	$	(391)	$	(208)	$	(229)	$	(75)	$	(64)
Pre-tax amounts recognized in Accumulated
other comprehensive income:
Net gain (loss)	$	(1,324)	$	(1,667)	$	(161)	$	(227)	$	13	$	(9)	$	(16)	$	(8)
Prior service (cost) credit		-		200		(16)		11		13		24		-		1
Total amounts recognized	$	(1,324)	$	(1,467)	$	(177)	$	(216)	$	26	$	15	$	(16)	$	(7)

(a) We do not currently fund postretirement benefits.

(b) Includes non-qualified unfunded plans of which the aggregate projected benefit obligation was $299 million and $325 million for the U.S. and $199 million and $295 million for the non-U.S. at December 31, 2015 and 2014, respectively.

The following table presents the accumulated benefit obligations for U.S. and non-U.S. pension benefit plans:

At December 31,
(in millions)		2015		2014
U.S. pension benefit plans	$	5,324	$	5,601
Non-U.S. pension benefit plans	$	1,109	$	1,040

Defined benefit plan obligations in which the projected benefit obligation was in excess of the related plan assets and the accumulated benefit obligation was in excess of the related plan assets were as follows:

At December 31,	PBO Exceeds Fair Value of Plan Assets								ABO Exceeds Fair Value of Plan Assets
		U.S. Plans				Non-U.S. Plans				U.S. Plans				Non-U.S. Plans
(in millions)		2015		2014		2015		2014		2015		2014		2015		2014
Projected benefit obligation	$	5,324	$	5,769	$	999	$	843	$	5,324	$	5,769	$	912	$	757
Accumulated benefit obligation		5,324		5,601		896		746		5,324		5,601		889		740
Fair value of plan assets		4,359		4,111		506		342		4,359		4,111		497		329

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

	Pension												Postretirement
	U.S. Plans						Non-U.S. Plans						U.S. Plans						Non-U.S. Plans
(in millions)		2015		2014		2013		2015		2014		2013		2015		2014		2013		2015		2014		2013
Components of net periodic benefit cost:
Service cost	$	192	$	173	$	205	$	43	$	42	$	47	$	5	$	4	$	5	$	3	$	2	$	3
Interest cost		220		228		201		25		29		29		8		9		8		3		2		2
Expected return on assets		(295)		(288)		(257)		(25)		(22)		(19)		-		-		-		-		-		-
Amortization of prior service credit		(22)		(33)		(33)		(2)		(3)		(3)		(11)		(11)		(11)		(1)		-		-
Amortization of net loss		92		42		138		9		7		13		-		-		1		-		-		-
Curtailment (gain) loss		(179)		-		-		(1)		1		(1)		-		-		-		-		-		(2)
Settlement loss		-		-		-		1		-		5		-		-		-		-		-		-
Other		-		-		-		-		-		1		-		-		-		-		-		-
Net periodic benefit cost	$	8	$	122	$	254	$	50	$	54	$	72	$	2	$	2	$	3	$	5	$	4	$	3
Total recognized in Accumulated other comprehensive income (loss)	$	143	$	(793)	$	823	$	38	$	(40)	$	103	$	12	$	(21)	$	30	$	(9)	$	(11)	$	16
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	135	$	(915)	$	569	$	(12)	$	(94)	$	31	$	10	$	(23)	$	27	$	(14)	$	(15)	$	13

The estimated net loss and prior service credit that will be amortized from Accumulated other comprehensive income into net periodic benefit cost over the next fiscal year are $32 million and $1 million, respectively, for our combined defined benefit pension plans. For the defined benefit postretirement plans, the estimated amortization from Accumulated other comprehensive income for net loss and prior service credit that will be amortized into net periodic benefit cost over the next fiscal year is a $9 million credit in the aggregate.

At the end of 2015, we changed the method used to measure interest costs for pension and postretirement benefits for our U.S. plans and largest non-U.S. plans. Previously, we measured interest costs utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligations. For 2016, interest costs will be measured by applying the specific spot rates along the yield curve to the plans’ corresponding discounted cash flows that comprise the obligation (i.e., the Spot Rate Approach). The new method provides a more precise measurement of interest costs by aligning the timing of the plans’ discounted cash flows to the corresponding spot rates on the yield curve; the measurement of our pension and postretirement benefit obligations is not affected. We have accounted for this change as a change in accounting estimate, which is applied prospectively. Consequently, combined estimated 2016 pension expense for the AIG U.S. and non-U.S. defined benefit pension plans under the Spot Rate Approach is approximately $86 million, which is a $52 million reduction when compared to the prior approach.

A 100 basis point increase in the discount rate or expected long-term rate of return would decrease the 2016 expense by approximately $56 million and $45 million, respectively, with all other items remaining the same. Conversely, a 100 basis point decrease in the discount rate or expected long-term rate of return would increase the 2016 expense by approximately $71 million and $45 million, respectively, with all other items remaining the same.

Assumptions

The following table summarizes the weighted average assumptions used to determine the benefit obligations:

	Pension						Postretirement
	U.S. Plans			Non-U.S. Plans^(a)			U.S. Plans		Non-U.S. Plans^(a)
December 31, 2015
Discount rate	4.32	%			2.17	%	4.21	%		4.09	%
Rate of compensation increase	N/A	%	^(b)		2.64	%	N/A			3.43	%
December 31, 2014
Discount rate	3.94	%			2.33	%	3.78	%		4.04	%
Rate of compensation increase	3.40	%			2.89	%	N/A			3.29	%

(a) The non-U.S. plans reflect those assumptions that were most appropriate for the local economic environments of each of the subsidiaries providing such benefits.

(b) Compensation increases are no longer applicable due to the plan freeze that became effective 1/1/2016.

The following table summarizes assumed health care cost trend rates for the U.S. plans:

At December 31,	2015	2014
Following year:
Medical (before age 65)	6.79%	7.07%
Medical (age 65 and older)	6.64%	6.75%
Ultimate rate to which cost increase is assumed to decline	4.50%	4.50%
Year in which the ultimate trend rate is reached:
Medical (before age 65)	2027	2027
Medical (age 65 and older)	2027	2027

A one percent point change in the assumed healthcare cost trend rate would have the following effect on our postretirement benefit obligations:

		One Percent				One Percent
At December 31,		Increase				Decrease
(in millions)		2015		2014		2015		2014
U.S. plans	$	6	$	5	$	(4)	$	(5)
Non-U.S. plans	$	17	$	12	$	(12)	$	(12)

Our postretirement plans provide benefits primarily in the form of defined employer contributions rather than defined employer benefits. Changes in the assumed healthcare cost trend rate have a minimal impact for U.S. plans because for post-1992 retirees, benefits are fixed dollar amounts based on service at retirement. Our non-U.S. postretirement plans are not subject to caps.

The following table presents the weighted average assumptions used to determine the net periodic benefit costs:

	Pension					Postretirement
At December 31,	U.S. Plans		Non-U.S. Plans^*			U.S. Plans		Non-U.S. Plans^*
2015
Discount rate	3.94	%		2.33	%	3.77	%		4.04	%
Rate of compensation increase	3.40	%		2.89	%	N/A			3.29	%
Expected return on assets	7.25	%		3.33	%	N/A			N/A
2014
Discount rate	4.83	%		2.77	%	4.59	%		4.77	%
Rate of compensation increase	3.50	%		2.89	%	N/A			3.34	%
Expected return on assets	7.25	%		2.93	%	N/A			N/A
2013
Discount rate	3.93	%		2.62	%	3.67	%		3.45	%
Rate of compensation increase	4.00	%		2.86	%	N/A			3.55	%
Expected return on assets	7.25	%		2.60	%	N/A			N/A

* The non-U.S. plans reflect those assumptions that were most appropriate for the local economic environments of the subsidiaries providing such benefits.

Discount Rate Methodology

The projected benefit cash flows under the U.S. AIG Retirement Plan were discounted using the spot rates derived from the Mercer US Pension Discount Yield Curve at December 31, 2015 and 2014, which resulted in a single discount rate that would produce the same liability at the respective measurement dates. The discount rates were 4.32 percent at December 31, 2015 and 3.95 percent at December 31, 2014. The methodology was consistently applied for the respective years in determining the discount rates for the other U.S. plans.

In general, the discount rates for non-U.S. pension plans were developed based on the duration of liabilities on a plan by plan basis and were selected by reference to high quality corporate bonds in developed markets or local government bonds where developed markets are not as robust or are nonexistent.

The projected benefit obligation for Japan represents approximately 50 percent and 47 percent of the total projected benefit obligations for our non-U.S. pension plans at December 31, 2015 and 2014, respectively. The weighted average discount rate of 0.99 percent at December 31, 2015 was selected by reference to the Mercer Yield Curve (Japan) based on the duration of the plans’ liabilities. The weighted average discount rate of 1.22 percent at December 31, 2014 for Japan was selected by reference to the AA rated corporate bonds reported by Rating and Investment Information, Inc. based on the duration of the plans’ liabilities.

Plan Assets

The investment strategy with respect to assets relating to our U.S. and non-U.S. pension plans is designed to achieve investment returns that will provide for the benefit obligations of the plans over the long term, limit the risk of short-term funding shortfalls and maintain liquidity sufficient to address cash needs. Accordingly, the asset allocation strategy is designed to maximize the investment rate of return while managing various risk factors, including but not limited to, volatility relative to the benefit obligations, diversification and concentration, and the risk and rewards profile applicable to each asset class.

There were no shares of AIG Common Stock included in the U.S. and non-U.S. pension plans assets at December 31, 2015 or 2014.

U.S. Pension Plan

The assets of the qualified plan are monitored by the investment committee and actively managed by the investment managers, and involves allocating the plan’s assets among approved asset classes within ranges as permitted by the strategic allocation. The long-term strategic asset allocation historically has been reviewed and revised approximately every three years. Beginning in 2016, the investment strategy will focus on de-risking the Plan via regular monitoring. This will be implemented through liability driven investing and the adoption of the glide path approach, where the glide path defines the target allocation for the “Return-Seeking” portion of the portfolio (i.e., growth assets) based on the funded ratio. Under this approach, the allocation to growth assets is reduced and the allocation to liability-hedging assets is increased as the Plan’s funded ratio increases in accordance with the defined glide path.

The following table presents the asset allocation percentage by major asset class for the U.S. qualified plan and the target allocation for 2016 based on the plan’s funded status at December 31, 2015:

	Target		Actual		Actual
At December 31,	2016		2015		2014
Asset class:
Equity securities	35	%	35	%	55	%
Fixed maturity securities	45	%	41	%	28	%
Other investments	20	%	24	%	17	%
Total	100	%	100	%	100	%

For both 2015 and 2014, the expected long-term rate of return for the plan was 7.25 percent. The expected rate of return is an aggregation of expected returns within each asset class category, weighted for the investment mix of the assets. The combination of the expected asset return and any contributions made by us are expected to maintain the plan’s ability to meet all required benefit obligations. The expected asset return for each asset class was developed based on an approach that considers key fundamental drivers of the asset class returns in addition to historical returns, current market conditions, asset volatility and the expectations for future market returns.

Non-U.S. Pension Plans

The assets of the non-U.S. pension plans are held in various trusts in multiple countries and are invested primarily in equities and fixed maturity securities to maximize the long-term return on assets for a given level of risk.

The following table presents the asset allocation percentage by major asset class for Non-U.S. pension plans and the target allocation:

	Target		Actual		Actual
At December 31,	2016		2015		2014
Asset class:
Equity securities	32	%	45	%	50	%
Fixed maturity securities	48	%	35	%	35	%
Other investments	18	%	13	%	8	%
Cash and cash equivalents	2	%	7	%	7	%
Total	100	%	100	%	100	%

The assets of AIG’s Japan pension plans represent approximately 54 percent and 55 percent of total non-U.S. assets at December 31, 2015 and 2014 respectively. The expected long term rate of return was 1.71 percent and 1.24 percent, for 2015 and 2014, respectively, and is evaluated by the Japanese Pension Investment Committee on a quarterly and annual basis along with various investment managers, and is revised to achieve the optimal allocation to meet targeted funding levels if necessary. In addition, the funding policy is revised in accordance with local regulation every five years.

The expected weighted average long-term rate of return for all our non-U.S. pension plans was 3.33 percent and 2.93 percent for the years ended December 31, 2015 and 2014, respectively. It is an aggregation of expected returns within each asset class that was generally developed based on the building block approach that considers historical returns, current market conditions, asset volatility and the expectations for future market returns.

Assets Measured at Fair Value

The following table presents information about our plan assets and indicates the level of the fair value measurement based on the observability of the inputs used. The inputs and methodology used in determining the fair value of these assets are consistent with those used to measure our assets as discussed in Note 4 herein.

	U.S. Plans								Non-U.S. Plans
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
At December 31, 2015
Assets:
Cash and cash equivalents	$	239	$	-	$	-	$	239	$	49	$	-	$	-	$	49
Equity securities:
U.S.^(a)		924		388		-		1,312		35		-		-		35
International^(b)		262		1		-		263		248		67		-		315
Fixed maturity securities:
U.S. investment grade^(c)		-		1,452		9		1,461		-		-		-		-
International investment grade^(c)		-		-		-		-		-		190		-		190
U.S. and international high yield^(d)		-		322		-		322		-		66		-		66
Mortgage and other asset-backed
securities^(e)		-		7		-		7		-		-		-		-
Other fixed maturity securities		-		-		-		-		-		12		-		12
Other investment types:
Hedge funds^(f)		-		469		31		500		-		-		-		-
Futures		2		-		-		2		-		-		-		-
Real Estate		-		-		-		-		11		-		-		11
Private equity^(g)		-		-		230		230		-		-		-		-
Insurance contracts		-		23		-		23		-		-		95		95
Total	$	1,427	$	2,662	$	270	$	4,359	$	343	$	335	$	95	$	773
At December 31, 2014
Assets:
Cash and cash equivalents	$	80	$	-	$	-	$	80	$	50	$	-	$	-	$	50
Equity securities:
U.S.^(a)		1,244		239		-		1,483		30		-		-		30
International^(b)		787		1		-		788		274		48		-		322
Fixed maturity securities:
U.S. investment grade^(c)		-		768		8		776		-		-		-		-
International investment grade^(c)		-		-		-		-		2		160		-		162
U.S. and international high yield^(d)		-		347		-		347		-		61		-		61
Mortgage and other asset-backed
securities^(e)		-		6		-		6		-		-		-		-
Other fixed maturity securities		-		-		-		-		-		10		17		27
Other investment types:
Hedge funds^(f)		-		337		36		373		-		-		-		-
Futures		4		-		-		4		-		-		-		-
Private equity^(g)		-		-		228		228		-		-		-		-
Insurance contracts		-		26		-		26		-		-		56		56
Total	$	2,115	$	1,724	$	272	$	4,111	$	356	$	279	$	73	$	708

(a) Includes index funds that primarily track several indices including S&P 500 and S&P Small Cap 600 as well as other actively managed accounts composed of investments in large cap companies.

(b) Includes investments in companies in emerging and developed markets.

(c) Represents investments in U.S. and non-U.S. government issued bonds, U.S. government agency or sponsored agency bonds, and investment grade corporate bonds.

(d) Consists primarily of investments in securities or debt obligations that have a rating below investment grade.

(e) Comprised primarily of investments in U.S. government agency or U.S. government sponsored agency bonds.

(f) Includes funds composed of macro, event driven, long/short equity, and controlled risk hedge fund strategies and a separately managed controlled risk strategy.

(g) Includes funds that are diverse by geography, investment strategy, sector and vintage year.

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. Based on our investment strategy, we had no significant concentrations of risks at December 31, 2015.

The U.S. pension plan holds a group annuity contract with U.S. Life, one of our subsidiaries, which totaled $23 million and $26 million at December 31, 2015 and 2014, respectively.

Changes in Level 3 fair value measurements

The following table presents changes in our U.S. and non-U.S. Level 3 plan assets measured at fair value:

																				Changes in
				Net																Unrealized Gains
		Balance		Realized and														Balance		(Losses) on
At December 31, 2015		Beginning		Unrealized										Transfers		Transfers		at End		Instruments Held
(in millions)		of year		Gains (Losses)		Purchases		Sales		Issuances		Settlements		In		Out		of year		at End of year
U.S. Plan Assets:
Fixed maturity securities
U.S. investment grade	$	8	$	(1)	$	17	$	(15)	$	-	$	-	$	-	$	-	$	9	$	(1)
Hedge funds		36		1		11		(10)		-		-		8		(15)		31		(1)
Private equity		228		(1)		86		(83)		-		-		-		-		230		5
Total	$	272	$	(1)	$	114	$	(108)	$	-	$	-	$	8	$	(15)	$	270	$	3
Non-U.S. Plan Assets:
Other fixed maturity securities	$	17	$	(1)	$	-	$	-	$	-	$	-	$	-	$	(16)	$	-	$	-
Insurance contracts		56		(7)		1		-		-		-		53		(8)		95		-
Total	$	73	$	(8)	$	1	$	-	$	-	$	-	$	53	$	(24)	$	95	$	-

																				Changes in
				Net																Unrealized Gains
		Balance		Realized and														Balance		(Losses) on
At December 31, 2014		Beginning		Unrealized										Transfers		Transfers		at End		Instruments Held
(in millions)		of year		Gains (Losses)		Purchases		Sales		Issuances		Settlements		In		Out		of year		at End of year
U.S. Plan Assets:
Fixed maturity securities
U.S. investment grade	$	9	$	2	$	18	$	(21)	$	-	$	-	$	-	$	-	$	8	$	1
Hedge funds		35		3		15		(32)		-		-		15		-		36		(1)
Private equity		248		11		73		(104)		-		-		-		-		228		10
Total	$	292	$	16	$	106	$	(157)	$	-	$	-	$	15	$	-	$	272	$	10
Non-U.S. Plan Assets:
Other fixed maturity securities	$	19	$	-	$	-	$	(2)	$	-	$	-	$	-	$	-	$	17	$	-
Insurance contracts		44		9		3		-		-		-		-		-		56		-
Total	$	63	$	9	$	3	$	(2)	$	-	$	-	$	-	$	-	$	73	$	-

Transfers of Level 1 and Level 2 Assets

Our policy is to record transfers of assets 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. We had no transfers between Level 1 and Level 2 during the years ended December 31, 2015 and 2014.

Transfers of Level 3 Assets

We record transfers of assets into or out of Level 3 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. During the year ended December 31, 2015, we transferred certain investments in hedge funds into Level 3 as a result of limited market activity due to fund-imposed redemption restrictions.

Expected Cash Flows

Funding for the U.S. pension plan ranges from the minimum amount required by ERISA to the maximum amount that would be deductible for U.S. tax purposes. Contributed amounts in excess of the minimum amounts are deemed voluntary. Amounts in excess of the maximum amount would be subject to an excise tax and may not be deductible under the Internal Revenue Code. There are no minimum required cash contributions in 2016 for the AIG Retirement Plan. SERP, AIG NQRIP, and postretirement plan payments are deductible when paid to participants.

Our annual pension contribution in 2016 is expected to be approximately $67 million for our U.S. and non-U.S. plans. These estimates are subject to change, since contribution decisions are affected by various factors including our liquidity, market performance and management’s discretion.

The expected future benefit payments, net of participants’ contributions, with respect to the defined benefit pension plans and other postretirement benefit plans, are as follows:

		Pension			Postretirement
		U.S.		Non-U.S.		U.S.		Non-U.S.
(in millions)		Plans		Plans		Plans		Plans
2016	$	759	$	36	$	14	$	1
2017		310		38		15		1
2018		323		40		15		2
2019		319		46		15		2
2020		313		45		16		2
2021-2025		1,487		282		83		12

Defined Contribution Plans

We sponsor several defined contribution plans for U.S. employees that provide for pre-tax salary reduction contributions by employees. The most significant plan is the AIG Incentive Savings Plan, for which the Company’s matching contribution is 100 percent of the first six percent of a participant’s contributions, subject to the IRS-imposed limitations. Our pre-tax expenses associated with these plans were $166 million, $156 million and $155 million in 2015, 2014 and 2013 respectively. Effective January 1, 2016, we provide participants in the AIG Incentive Savings Plan an additional fully vested, non-elective, non-discretionary Company contribution equal to 3 percent of the participant’s annual base compensation for the plan year, paid each pay period regardless of whether the participant currently contributes to the plan, and subject to the IRS-imposed limitations.

OWNERSHIP	12 Months Ended
OWNERSHIP	Dec. 31, 2015
OWNERSHIP
OWNERSHIP	21. OWNERSHIP A Schedule 13G/A filed on February 10, 2016 reports aggregate ownership of 80,762,613 shares, or approximately 6.5 percent (based on the AIG Common Stock outstanding) of AIG Common Stock as of December 31, 2015, by various subsidiaries of Blackrock, Inc. A Schedule 13G/A filed on February 10, 2016 reports aggregate ownership of 67,605,730 shares, or approximately 5.5 percent (based on the AIG Common Stock outstanding) of AIG Common Stock as of December 31, 2015, by The Vanguard Group, Inc. and various subsidiaries thereof. The calculation of ownership interest for purposes of the AIG Tax Asset Protection Plan and Article 13 of our Restated Certificate of Incorporation is different than beneficial ownership for Schedule 13G.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

INCOME TAXES

12 Months Ended

Dec. 31, 2015

INCOME TAXES

INCOME TAXES

22. INCOME TAXES

The following table presents income (loss) from continuing operations before income tax expense (benefit) by U.S. and foreign location in which such pre-tax income (loss) was earned or incurred.

Years Ended December 31,
(in millions)		2015		2014		2013
U.S.	$	1,950	$	8,250	$	8,058
Foreign		1,331		2,251		1,310
Total	$	3,281	$	10,501	$	9,368

The following table presents the income tax expense (benefit) attributable to pre-tax income (loss) from continuing operations:

Years Ended December 31,
(in millions)		2015		2014		2013
Foreign and U.S. components of actual income tax expense:
Foreign:
Current	$	391	$	473	$	549
Deferred		(95)		154		(442)
U.S.:
Current		429		115		131
Deferred		334		2,185		122
Total	$	1,059	$	2,927	$	360

Our actual income tax (benefit) expense differs from the statutory U.S. federal amount computed by applying the federal income tax rate due to the following:

	2015						2014							2013
		Pre-Tax		Tax	Percent of			Pre-Tax		Tax		Percent of					Tax	Percent of
Years Ended December 31,		Income		Expense/	Pre-Tax			Income		Expense/		Pre-Tax			Pre-Tax		Expense/	Pre-Tax
(dollars in millions)		(Loss)		(Benefit)	Income (Loss)			(Loss)		(Benefit)	Income (Loss)				Income		(Benefit)	Income
U.S. federal income tax at statutory rate	$	3,281	$	1,148	35.0	%	$	10,524	$	3,683		35.0	%	$	9,518	$	3,331	35.0	%
Adjustments:
Tax exempt interest				(195)	(5.9)					(236)		(2.2)					(298)	(3.1)
Uncertain tax positions				195	5.9					(81)		(0.8)					632	6.6
Reclassifications from accumulated
other comprehensive income				(127)	(3.9)					(61)		(0.6)					-	-
Non-deductible transfer pricing
charges				97	3.0					86		0.8					-	-
Dividends received deduction				(72)	(2.2)					(62)		(0.6)					(75)	(0.8)
Effect of foreign operations				(58)	(1.8)					(68)		(0.6)					(5)	(0.1)
State income taxes				34	1.0					39		0.4					(21)	(0.2)
Other				(73)	(2.2)					(184)		(1.7)					13	0.1
Effect of discontinued operations				-	-					65		0.6					14	0.1
Valuation allowance:
Continuing operations				110	3.4					(181)		(1.7)					(3,165)	(33.3)
Consolidated total amounts		3,281		1,059	32.3			10,524		3,000		28.5			9,518		426	4.5
Amounts attributable to discontinued
operations		-		-	-			23		73		317.4			150		66	44.3
Amounts attributable to continuing
operations	$	3,281	$	1,059	32.3	%	$	10,501	$	2,927		27.9	%	$	9,368	$	360	3.8	%

For the year ended December 31, 2015, the effective tax rate on income from continuing operations was 32.3 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits of $195 million associated with tax exempt interest income, $127 million related to reclassifications from accumulated other comprehensive income to income from continuing operations related to the disposal of available for sale securities, $58 million associated with the effect of foreign operations, and $109 million related to the partial completion of the Internal Revenue Service examination covering tax year 2006, partially offset by $324 million of tax charges and related interest associated with increases in uncertain tax positions related to cross border financing transactions, and $110 million related to increases in the deferred tax asset valuation allowances associated with certain foreign jurisdictions.

For the year ended December 31, 2015, our repatriation assumptions related to certain European operations changed, and related foreign earnings are now considered to be indefinitely reinvested. These earnings relate to ongoing operations and have been reinvested in active non-U.S. business operations. Further, we do not intend to repatriate these earnings to fund U.S. operations. As a result, U.S. deferred taxes have not been provided on $1.8 billion of accumulated earnings, including accumulated other comprehensive income, of these non-U.S. affiliates. Potential U.S. income tax liabilities related to such earnings would be offset, in whole or in part, by allowable foreign tax credits resulting from foreign taxes paid to foreign jurisdictions in which such operations are located. As a result, we currently believe that any incremental U.S. income tax liabilities relating to indefinitely reinvested foreign earnings would not be significant. Deferred taxes have been provided on earnings of non-U.S. affiliates whose earnings are not indefinitely reinvested.

For the year ended December 31, 2014, the effective tax rate on income from continuing operations was 27.9 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits of $236 million associated with tax exempt interest income, $209 million related to a decrease in the U.S. Life Insurance Companies’ capital loss carryforward valuation allowance, $182 million of income excludible from gross income related to the global resolution of certain residential mortgage-related disputes and $68 million associated with the effect of foreign operations.

For the year ended December 31, 2013, the effective tax rate on income from continuing operations was 3.8 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits of $2.8 billion related to a decrease in the U.S. Life Insurance Companies’ capital loss carryforward valuation allowance, $396 million related to a decrease in certain other valuation allowances associated with foreign jurisdictions and $298 million associated with tax exempt interest income. These items were partially offset by charges of $632 million related to uncertain tax positions.

The following table presents the components of the net deferred tax assets (liabilities):

December 31,
(in millions)		2015		2014
Deferred tax assets:
Losses and tax credit carryforwards	$	18,680	$	18,203
Basis differences on investments		4,886		4,114
Life policy reserves		353		629
Accruals not currently deductible, and other		1,003		1,804
Loss reserve discount		1,021		1,378
Loan loss and other reserves		8		152
Unearned premium reserve reduction		1,603		1,269
Flight equipment, fixed assets and intangible assets		129		28
Other		577		220
Employee benefits		1,286		1,543
Total deferred tax assets		29,546		29,340
Deferred tax liabilities:
Investments in foreign subsidiaries		(33)		(58)
Deferred policy acquisition costs		(3,467)		(3,003)
Unrealized gains related to available for sale debt securities		(3,077)		(5,795)
Total deferred tax liabilities		(6,577)		(8,856)
Net deferred tax assets before valuation allowance		22,969		20,484
Valuation allowance		(3,012)		(1,739)
Net deferred tax assets (liabilities)	$	19,957	$	18,745

The following table presents our U.S. consolidated income tax group tax losses and credits carryforwards as of December 31, 2015.

December 31, 2015				Tax	Expiration
(in millions)		Gross		Effected	Periods
Net operating loss carryforwards	$	34,883	$	12,209	2028 - 2035
Foreign tax credit carryforwards				6,853	2016 - 2024
Other carryforwards				538	Various
Total AIG U.S. consolidated income tax group tax losses and credits
carryforwards on a tax return basis				19,600
Unrecognized tax benefit				(2,523)
Total AIG U.S. consolidated income tax group tax losses and credits
carryforwards on a U.S. GAAP basis^*			$	17,077

* Includes other carryforwards, e.g. general business credits, of $326 million on a U.S. GAAP basis.

We have U.S. federal consolidated net operating loss and tax credit carryforwards of approximately $17.1 billion, including $266 million of the foreign tax credit carryforward originated in tax years 2006 and 2007. The carryforward periods for 2006 and 2007 foreign tax credits expire in 2016 and 2017, respectively. As detailed in the Assessment of Deferred Tax Asset Valuation Allowance section of this footnote, we determined that it is more likely than not that our U.S. federal consolidated tax attribute carryforwards will be realized prior to their expiration.

Assessment of Deferred Tax Asset Valuation Allowance

The evaluation of the recoverability of our deferred tax asset and the need for a valuation allowance requires us to weigh all positive and negative evidence to reach a conclusion that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The weight given to the evidence is commensurate with the extent to which it can be objectively verified. The more negative evidence that exists, the more positive evidence is necessary and the more difficult it is to support a conclusion that a valuation allowance is not needed.

Our framework for assessing the recoverability of the deferred tax asset requires us to consider all available evidence, including:

the nature, frequency, and amount of cumulative financial reporting income and losses in recent years;
the sustainability of recent operating profitability of our subsidiaries;
the predictability of future operating profitability of the character necessary to realize the net deferred tax asset;
the carryforward period for the net operating loss, capital loss and foreign tax credit carryforwards, including the effect of reversing taxable temporary differences; and
prudent and feasible actions and tax planning strategies that would be implemented, if necessary, to protect against the loss of the deferred tax asset.

In performing our assessment of the recoverability of the deferred tax asset under this framework, we consider tax laws governing the utilization of the net operating loss, capital loss and foreign tax credit carryforwards in each applicable jurisdiction. Under U.S. tax law, a company generally must use its net operating loss carryforwards before it can use its foreign tax credit carryforwards, even though the carryforward period for the foreign tax credit is shorter than for the net operating loss. Our U.S. federal consolidated income tax group includes both life companies and non-life companies. While the U.S. taxable income of our non-life companies can be offset by the net operating loss carryforwards, only a portion (no more than 35 percent) of the U.S. taxable income of our life companies can be offset by those net operating loss carryforwards. The remaining tax liability of our life companies can be offset by the foreign tax credit carryforwards. Accordingly, we utilize both the net operating loss and foreign tax credit carryforwards concurrently which enables us to realize our tax attributes prior to expiration. As of December 31, 2015, based on all available evidence, it is more likely than not that the U.S. net operating loss and foreign tax credit carryforwards will be utilized prior to expiration and, thus, no valuation allowance has been established.

Estimates of future taxable income, including income generated from prudent and feasible actions and tax planning strategies could change in the near term, perhaps materially, which may require us to consider any potential impact to our assessment of the recoverability of the deferred tax asset. Such potential impact could be material to our consolidated financial condition or results of operations for an individual reporting period.

For the three months ended December 31, 2015, recent changes in market conditions, including rising interest rates, impacted the unrealized tax losses in the U.S. Life Insurance Companies’ available for sale portfolio, resulting in an increase to the related deferred tax asset. The deferred tax asset relates to the unrealized losses for which the carryforward period has not yet begun, and as such, when assessing its recoverability, we consider our ability and intent to hold the underlying securities to recovery. As of December 31, 2015, based on all available evidence, we concluded that a valuation allowance should be established on a portion of the deferred tax asset related to unrealized losses that are not more-likely-than-not to be realized.

For the year ended December 31, 2015, we established $1.2 billion of valuation allowance associated with the unrealized tax losses in the U.S. Life Insurance Companies, all of which was allocated to other comprehensive income.

During the year ended December 31, 2015, we recognized an increase of $110 million in our deferred tax asset valuation allowance associated with certain foreign jurisdictions, primarily attributable to factors such as cumulative losses in recent years and the inability to demonstrate profits within the specific jurisdictions over the relevant carryforward periods.

The following table presents the net deferred tax assets (liabilities) at December 31, 2015 and 2014 on a U.S. GAAP basis:

December 31,
(in millions)		2015		2014
Net U.S. consolidated return group deferred tax assets	$	24,134	$	24,543
Net deferred tax assets (liabilities) in accumulated other comprehensive income		(2,806)		(5,510)
Valuation allowance		(1,281)		(129)
Subtotal		20,047		18,904
Net foreign, state and local deferred tax assets		2,078		2,045
Valuation allowance		(1,731)		(1,610)
Subtotal		347		435
Subtotal - Net U.S, foreign, state and local deferred tax assets		20,394		19,339
Net foreign, state and local deferred tax liabilities		(437)		(594)
Total AIG net deferred tax assets (liabilities)	$	19,957	$	18,745

Deferred Tax Asset Valuation Allowance of U.S. Consolidated Income Tax Group

At December 31, 2015 and 2014, our U.S. consolidated income tax group had net deferred tax assets after valuation allowance of $20.0 billion and $18.9 billion, respectively. At December 31, 2015 and 2014, our U.S. consolidated income tax group had valuation allowances of $1.3 billion and $129 million, respectively.

Deferred Tax Liability — Foreign, State and Local

At December 31, 2015 and 2014, we had net deferred tax liabilities of $90 million and $159 million, respectively, related to foreign subsidiaries, state and local tax jurisdictions, and certain domestic subsidiaries that file separate tax returns.

At December 31, 2015 and 2014, we had deferred tax asset valuation allowances of $1.7 billion and $1.6 billion, respectively, related to foreign subsidiaries, state and local tax jurisdictions, and certain domestic subsidiaries that file separate tax returns. We maintained these valuation allowances following our conclusion that we could not demonstrate that it was more likely than not that the related deferred tax assets will be realized. This was primarily due to factors such as cumulative losses in recent years and the inability to demonstrate profits within the specific jurisdictions over the relevant carryforward periods.

Tax Examinations and Litigation

We file a consolidated U.S. federal income tax return with our eligible U.S. subsidiaries. Income earned by subsidiaries operating outside the U.S. is taxed, and income tax expense is recorded, based on applicable U.S. and foreign law.

The statute of limitations for all tax years prior to 2000 has expired for our consolidated federal income tax return. We are currently under examination for the tax years 2000 through 2010.

On March 20, 2008, we received a Statutory Notice of Deficiency (Notice) from the IRS for years 1997 to 1999. The Notice asserted that we owe additional taxes and penalties for these years primarily due to the disallowance of foreign tax credits associated with cross-border financing transactions. The transactions that are the subject of the Notice extend beyond the period covered by the Notice, and the IRS has administratively challenged the later periods. The IRS has also administratively challenged other cross-border transactions in later years. We have paid the assessed tax plus interest and penalties for 1997 to 1999. On February 26, 2009, we filed a complaint in the United States District Court for the Southern District of New York (Southern District) seeking a refund of approximately $306 million in taxes, interest and penalties paid with respect to the 1997 taxable year. We allege that the IRS improperly disallowed foreign tax credits and that our taxable income should be reduced as a result of the 2005 restatement of our consolidated financial statements.

We also filed an administrative refund claim on September 9, 2010 for our 1998 and 1999 tax years.

On August 1, 2012, we filed a motion for partial summary judgment related to the disallowance of foreign tax credits associated with cross border financing transactions. On March 29, 2013, the Southern District denied our motion. 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. On September 9, 2015, the Second Circuit affirmed the decision of the Southern District. On October 13, 2015, we filed a petition for a writ of certiorari to the U.S Supreme Court. If the U.S. Supreme Court does not grant certiorari the case will be remanded back to the Southern District for trial.

We will vigorously defend our position and continue to believe that we have adequate reserves for any liability that could result from these government 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

The following table presents a reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits:

Years Ended December 31,
(in millions)		2015		2014		2013
Gross unrecognized tax benefits, beginning of year	$	4,395	$	4,340	$	4,385
Increases in tax positions for prior years		162		91		680
Decreases in tax positions for prior years		(209)		(60)		(796)
Increases in tax positions for current year		-		10		43
Lapse in statute of limitations		(4)		(6)		(20)
Settlements		(13)		-		(2)
Activity of discontinued operations		-		20		50
Gross unrecognized tax benefits, end of year	$	4,331	$	4,395	$	4,340

At December 31, 2015, 2014 and 2013, our unrecognized tax benefits, excluding interest and penalties, were $4.3 billion, $4.4 billion and $4.3 billion, respectively. The activity includes increases for amounts associated with cross border financing transactions partially offset by certain benefits realized due to the partial completion of the Internal Revenue Service examination covering tax year 2006. At December 31, 2015, 2014 and 2013, our unrecognized tax benefits related to tax positions that, if recognized, would not affect the effective tax rate because they relate to such factors as the timing, rather than the permissibility, of the deduction were $0.1 billion, $0.3 billion and $0.1 billion, respectively. Accordingly, at December 31, 2015, 2014 and 2013, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $4.2 billion, $4.1 billion and $4.2 billion, respectively.

Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At December 31, 2015 and 2014, we had accrued liabilities of $1.2 billion and $1.1 billion, respectively for the payment of interest (net of the federal benefit) and penalties. For the years ended December 31, 2015, 2014 and 2013, we accrued expense of $156 million, $21 million and $142 million, respectively, for the payment of interest (net of the federal benefit) and penalties. The interest increase from December 31, 2014 was primarily due to increases in amounts associated with cross border financing transactions.

We regularly evaluate adjustments proposed by taxing authorities. At December 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.

Listed below are the tax years that remain subject to examination by major tax jurisdictions:

At December 31, 2015	Open Tax Years
Major Tax Jurisdiction
United States	2000-2014
Australia	2011-2014
France	2013-2014
Japan	2009-2014
Korea	2010-2014
Singapore	2011-2014
United Kingdom	2013-2014

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2015

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

23. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

Consolidated Statements of Income (Loss)

	Three Months Ended
		March 31,				June 30,				September 30,				December 31,
(dollars in millions, except per share data)		2015		2014		2015		2014		2015		2014		2015		2014
Total revenues	$	15,975	$	16,163	$	15,699	$	16,136	$	12,822	$	16,697	$	13,831	$	15,410
Income (loss) from continuing
operations before income taxes^*		3,776		2,273		2,552		4,480		(115)		3,019		(2,932)		729
Income (loss) from discontinued
operations, net of income taxes		1		(47)		16		30		(17)		2		-		(35)
Net income (loss)		2,477		1,612		1,791		3,036		(197)		2,201		(1,849)		675
Net income (loss) from
continuing operations attributable
to noncontrolling interests		9		3		(9)		(37)		34		9		(8)		20
Net income (loss) attributable to AIG^*	$	2,468	$	1,609	$	1,800	$	3,073	$	(231)	$	2,192	$	(1,841)	$	655
Earnings (loss) per common share
attributable to AIG common
shareholders:
Basic:
Income (loss) from continuing
operations	$	1.81	$	1.13	$	1.34	$	2.11	$	(0.17)	$	1.54	$	(1.50)	$	0.50
Income (loss) from discontinued
operations	$	-	$	(0.03)	$	0.01	$	0.02	$	(0.01)	$	-	$	-	$	(0.03)
Diluted:
Income (loss) from continuing
operations	$	1.78	$	1.12	$	1.31	$	2.08	$	(0.17)	$	1.52	$	(1.50)	$	0.49
Income (loss) from discontinued
operations	$	-	$	(0.03)	$	0.01	$	0.02	$	(0.01)	$	-	$	-	$	(0.03)
Weighted average shares outstanding:
Basic	1,365,951,690		1,459,249,393		1,329,157,366		1,442,397,111		1,279,072,748		1,419,239,774		1,226,880,632		1,391,790,420
Diluted	1,386,263,549		1,472,510,813		1,365,390,431		1,464,676,330		1,279,072,748		1,442,067,842		1,226,880,632		1,412,162,456
Noteworthy quarterly items -
income (expense):
Other-than-temporary
impairments		(128)		(59)		(164)		(55)		(273)		(50)		(106)		(83)
Net (gain) loss on sale of
divested businesses		6		(4)		1		(2,174)		3		(18)		1		(1)
Federal and foreign valuation
allowance for deferred tax assets		93		65		(40)		75		8		21		49		20
Net gain (loss) on extinguishment of
debt		(68)		(238)		(342)		(34)		(346)		(742)		-		(1,268)
Reserve strengthening charges		24		-		317		-		191		-		3,587		-
Restructuring and other costs		-		-		-		-		274		-		222		-

* For the three months ended December 31, 2015, we recorded out of period adjustments related to prior periods that decreased Net income attributable to AIG by $193 million, decreased AIG’s Income from continuing operations before income taxes by $308 million and decreased pre-tax operating income by $122 million. The out of period adjustments primarily related to impairments of Other invested assets and changes in Liability for unpaid losses and loss adjustment expenses and income tax liabilities. Had these adjustments, which were determined not to be material, been recorded in their appropriate periods, Net income attributable to AIG for the three-month periods ended September 30, 2015, June 30, 2015 and March 31, 2015 would have decreased by $36 million, increased by $15 million and decreased by $16 million, respectively. Net income attributable to AIG for the three-month periods ended December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014 would have increased by $25 million, decreased by $61 million, increased by $13 million and decreased by $28 million, respectively.

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

12 Months Ended

Dec. 31, 2015

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

24. INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

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

Condensed Consolidating Balance Sheets

		American
		International					Reclassifications
		Group, Inc.				Other		and	Consolidated
(in millions)	(As Guarantor)		AIGLH			Subsidiaries		Eliminations		AIG
December 31, 2015
Assets:
Short-term investments	$	4,042	$	-	$	9,637	$	(3,547)	$	10,132
Other investments^(a)		7,425		-		320,797		-		328,222
Total investments		11,467		-		330,434		(3,547)		338,354
Cash		34		116		1,479		-		1,629
Loans to subsidiaries^(b)		35,927		-		578		(36,505)		-
Investment in consolidated subsidiaries^(b)		51,151		30,239		-		(81,390)		-
Other assets, including deferred income taxes		23,398		260		135,690		(2,388)		156,960
Total assets	$	121,977	$	30,615	$	468,181	$	(123,830)	$	496,943
Liabilities:
Insurance liabilities	$	-	$	-	$	271,645	$	-	$	271,645
Long-term debt		19,876		706		8,768		-		29,350
Other liabilities, including intercompany balances^(a)		11,869		201		99,777		(6,109)		105,738
Loans from subsidiaries^(b)		574		3		35,928		(36,505)		-
Total liabilities		32,319		910		416,118		(42,614)		406,733
Total AIG shareholders’ equity		89,658		29,705		51,511		(81,216)		89,658
Non-redeemable noncontrolling interests		-		-		552		-		552
Total equity		89,658		29,705		52,063		(81,216)		90,210
Total liabilities and equity	$	121,977	$	30,615	$	468,181	$	(123,830)	$	496,943

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)		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
Year Ended December 31, 2015
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	3,954	$	1,936	$	-	$	(5,890)	$	-
Other income		88		-		58,953		(714)		58,327
Total revenues		4,042		1,936		58,953		(6,604)		58,327
Expenses:
Interest expense		1,049		58		302		(128)		1,281
Loss on extinguishment of debt		703		-		46		7		756
Other expenses		1,178		44		52,374		(587)		53,009
Total expenses		2,930		102		52,722		(708)		55,046
Income (loss) from continuing operations before income tax
expense (benefit)		1,112		1,834		6,231		(5,896)		3,281
Income tax expense (benefit)		(1,086)		(73)		2,218		-		1,059
Income (loss) from continuing operations		2,198		1,907		4,013		(5,896)		2,222
Income (loss) from discontinued operations, net of income taxes		(2)		-		2		-		-
Net income (loss)		2,196		1,907		4,015		(5,896)		2,222
Less:
Net income from continuing operations attributable to
noncontrolling interests		-		-		26		-		26
Net income (loss) attributable to AIG	$	2,196	$	1,907	$	3,989	$	(5,896)	$	2,196
Year Ended December 31, 2014
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	9,450	$	3,519	$	-	$	(12,969)	$	-
Other income		1,658		-		63,157		(409)		64,406
Total revenues		11,108		3,519		63,157		(13,378)		64,406
Expenses:
Interest expense		1,507		100		243		(132)		1,718
Loss on extinguishment of debt		2,248		-		85		(51)		2,282
Other expenses		1,546		203		48,315		(159)		49,905
Total expenses		5,301		303		48,643		(342)		53,905
Income (loss) from continuing operations before income tax
expense (benefit)		5,807		3,216		14,514		(13,036)		10,501
Income tax expense (benefit)		(1,735)		(103)		4,817		(52)		2,927
Income (loss) from continuing operations		7,542		3,319		9,697		(12,984)		7,574
Loss from discontinued operations, net of income taxes		(13)		-		(37)		-		(50)
Net income (loss)		7,529		3,319		9,660		(12,984)		7,524
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests:		-		-		(5)		-		(5)
Net income (loss) attributable to AIG	$	7,529	$	3,319	$	9,665	$	(12,984)	$	7,529

Year Ended December 31, 2013
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	7,638	$	4,075	$	-	$	(11,713)	$	-
Other income		1,487		1		67,698		(312)		68,874
Total revenues		9,125		4,076		67,698		(12,025)		68,874
Expenses:
Other interest expense		1,938		126		233		(155)		2,142
Loss on extinguishment of debt		580		-		71		-		651
Other expenses		1,520		75		55,277		(159)		56,713
Total expenses		4,038		201		55,581		(314)		59,506
Income (loss) from continuing operations before income tax
expense (benefit)		5,087		3,875		12,117		(11,711)		9,368
Income tax expense (benefit)		(4,012)		(58)		4,454		(24)		360
Income (loss) from continuing operations		9,099		3,933		7,663		(11,687)		9,008
Income (loss) from discontinued operations, net of income taxes		(14)		-		98		-		84
Net income (loss)		9,085		3,933		7,761		(11,687)		9,092
Less:
Net income from continuing operations attributable to
noncontrolling interests		-		-		7		-		7
Net income (loss) attributable to AIG	$	9,085	$	3,933	$	7,754	$	(11,687)	$	9,085

* 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
Year Ended December 31, 2015
Net income (loss)	$	2,196	$	1,907	$	4,015	$	(5,896)	$	2,222
Other comprehensive income (loss)		(8,080)		2,320		54,757		(57,083)		(8,086)
Comprehensive income (loss)		(5,884)		4,227		58,772		(62,979)		(5,864)
Total comprehensive income attributable to noncontrolling interests		-		-		20		-		20
Comprehensive income (loss) attributable to AIG	$	(5,884)	$	4,227	$	58,752	$	(62,979)	$	(5,884)
Year Ended December 31, 2014
Net income (loss)	$	7,529	$	3,319	$	9,660	$	(12,984)	$	7,524
Other comprehensive income (loss)		4,257		2,794		3,235		(6,029)		4,257
Comprehensive income (loss)		11,786		6,113		12,895		(19,013)		11,781
Total comprehensive loss attributable to noncontrolling interests		-		-		(5)		-		(5)
Comprehensive income (loss) attributable to AIG	$	11,786	$	6,113	$	12,900	$	(19,013)	$	11,786
Year Ended December 31, 2013
Net income (loss)	$	9,085	$	3,933	$	7,761	$	(11,687)	$	9,092
Other comprehensive income (loss)		(6,214)		(4,689)		(6,719)		11,385		(6,237)
Comprehensive income (loss)		2,871		(756)		1,042		(302)		2,855
Total comprehensive loss attributable to noncontrolling interests		-		-		(16)		-		(16)
Comprehensive income (loss) attributable to AIG	$	2,871	$	(756)	$	1,058	$	(302)	$	2,871

Condensed Consolidating Statements of Cash Flows

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries^*		Eliminations^*		AIG
Year Ended December 31, 2015
Net cash (used in) provided by operating activities	$	4,443	$	2,314	$	1,112	$	(4,992)	$	2,877
Cash flows from investing activities:
Sales of investments		7,767		-		69,726		(4,877)		72,616
Purchase of investments		(1,881)		-		(68,261)		4,877		(65,265)
Loans to subsidiaries – net		(83)		-		367		(284)		-
Contributions to subsidiaries		565		-		-		(565)		-
Net change in restricted cash		-		-		1,457		-		1,457
Net change in short-term investments		2,300		-		(1,137)		-		1,163
Other, net		(175)		-		(1,334)		-		(1,509)
Net cash provided by investing activities		8,493		-		818		(849)		8,462
Cash flows from financing activities:
Issuance of long-term debt		5,540		-		1,327		-		6,867
Repayments of long-term debt		(6,504)		(114)		(3,187)		-		(9,805)
Purchase of Common Stock		(10,691)		-		-		-		(10,691)
Intercompany loans - net		(201)		3		(86)		284		-
Cash dividends paid		(1,028)		(2,178)		(2,814)		4,992		(1,028)
Other, net		(44)		-		2,707		565		3,228
Net cash (used in) financing activities		(12,928)		(2,289)		(2,053)		5,841		(11,429)
Effect of exchange rate changes on cash		-		-		(39)		-		(39)
Change in cash		8		25		(162)		-		(129)
Cash at beginning of year		26		91		1,641		-		1,758
Change in cash of businesses held for sale		-		-		-		-		-
Cash at end of year	$	34	$	116	$	1,479	$	-	$	1,629

Year Ended December 31, 2014
Net cash (used in) provided by operating activities	$	9,316	$	6,155	$	8,979	$	(19,443)	$	5,007
Cash flows from investing activities:
Sales of investments		3,036		-		65,108		(2,040)		66,104
Purchase of investments		(1,051)		-		(59,099)		2,040		(58,110)
Loans to subsidiaries – net		446		-		169		(615)		-
Contributions to subsidiaries		(148)		-		296		(148)		-
Net change in restricted cash		(501)		-		(946)		-		(1,447)
Net change in short-term investments		5,792		-		2,968		-		8,760
Other, net		(141)		-		(882)		-		(1,023)
Net cash (used in) provided by investing activities		7,433		-		7,614		(763)		14,284
Cash flows from financing activities:
Issuance of long-term debt		3,247		-		3,440		-		6,687
Repayments of long-term debt		(14,468)		(477)		(1,215)		-		(16,160)
Intercompany loans - net		110		(280)		(445)		615		-
Purchase of common stock		(4,902)		-		-		-		(4,902)
Cash dividends paid to shareholders		(712)		(5,358)		(14,085)		19,443		(712)
Other, net		(28)		-		(4,821)		148		(4,701)
Net cash (used in) provided by financing activities		(16,753)		(6,115)		(17,126)		20,206		(19,788)
Effect of exchange rate changes on cash		-		-		(74)		-		(74)
Change in cash		(4)		40		(607)		-		(571)
Cash at beginning of year		30		51		2,160		-		2,241
Reclassification to assets held for sale		-		-		88		-		88
Cash at end of year	$	26	$	91	$	1,641	$	-	$	1,758

Year Ended December 31, 2013
Net cash (used in) provided by operating activities	$	6,422	$	4,488	$	7,385	$	(12,430)	$	5,865
Cash flows from investing activities:
Sales of investments		1,425		-		78,868		(3,199)		77,094
Purchase of investments		(5,506)		-		(75,580)		3,199		(77,887)
Loans to subsidiaries – net		3,660		-		395		(4,055)		-
Contributions to subsidiaries		(2,081)		(1)		-		2,082		-
Net change in restricted cash		493		-		751		-		1,244
Net change in short-term investments		2,361		-		5,481		-		7,842
Other, net		130		-		(1,324)		-		(1,194)
Net cash (used in) provided by investing activities		482		(1)		8,591		(1,973)		7,099
Cash flows from financing activities:
Issuance of long-term debt		2,015		-		3,220		-		5,235
Repayments of long-term debt		(7,439)		(245)		(6,513)		-		(14,197)
Intercompany loans - net		(123)		(273)		(3,659)		4,055		-
Purchase of common stock		(597)		-		-		-		(597)
Cash dividends paid to shareholders		(294)		(3,991)		(8,439)		12,430		(294)
Other, net		(517)		-		694		(2,082)		(1,905)
Net cash (used in) provided by financing activities		(6,955)		(4,509)		(14,697)		14,403		(11,758)
Effect of exchange rate changes on cash		-		-		(92)		-		(92)
Change in cash		(51)		(22)		1,187		-		1,114
Cash at beginning of year		81		73		997		-		1,151
Change in cash of businesses held for sale		-		-		(24)		-		(24)
Cash at end of year	$	30	$	51	$	2,160	$	-	$	2,241

* The Other Subsidiaries and Reclassifications and Eliminations amounts were disclosed together in prior periods. The new presentation had no impact on the Consolidated AIG amounts.

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 year ended December 31, 2015 for:
Interest:
Third party	$	(1,030)	$	(59)	$	(279)	$	-	$	(1,368)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(11)	$	-	$	(500)	$	-	$	(511)
Intercompany		829		-		(829)		-		-
Cash (paid) received during the year ended December 31, 2014 for:
Interest:
Third party	$	(1,624)	$	(87)	$	(1,656)	$	-	$	(3,367)
Intercompany		5		(7)		2		-		-
Taxes:
Income tax authorities	$	(18)	$	-	$	(719)	$	-	$	(737)
Intercompany		1,172		-		(1,172)		-		-
Cash (paid) received during the year ended December 31, 2013 for:
Interest:
Third party^*	$	(1,963)	$	(111)	$	(1,782)	$	-	$	(3,856)
Intercompany		(12)		(21)		33		-		-
Taxes:
Income tax authorities	$	(161)	$	-	$	(635)	$	-	$	(796)
Intercompany		288		(78)		(210)		-		-

* The Other Subsidiaries and Reclassifications and Eliminations amounts were disclosed together in prior periods. The new presentation had no impact on the Consolidated AIG amounts.

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

Years Ended December 31,
(in millions)		2015		2014		2013
Intercompany non-cash financing and investing activities:
Capital contributions to subsidiaries through forgiveness of loans	$	-	$	-	$	341
Dividends received in the form of securities		2,326		3,088		-
Other capital contributions - net		494		2,457		523
Return of capital^*		-		4,836		-
Non-cash financing/investing activities:
Consideration received from sale of shares of AerCap		500		-		-

* Includes $4.8 billion return of capital from AIG Capital Corporation related to the sale of ILFC.

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2015
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	25. Subsequent events Dividends Declared and Share Repurchase Authorization On February 11, 2016, our Board of Directors declared a cash dividend on AIG Common Stock of $0.32 per share, payable on March 28, 2016, to shareholders of record on March 14, 2016. On February 11, 2016, our Board of Directors authorized an additional increase to the repurchase authorization of AIG Common Stock of $5.0 billion, resulting in an aggregate remaining authorization on such date of approximately $5.8 billion.

Schedule I Summary of Investments - Other than Investments in Related Parties

12 Months Ended

Dec. 31, 2015

Schedule I Summary of Investments - Other than Investments in Related Parties

Schedule I Summary of Investments - Other than Investments in Related Parties

Summary of Investments — Other than Investments in Related Parties

						Schedule I

						Amount at
At December 31, 2015						which shown in
(in millions)		Cost^(a)		Fair Value		the Balance Sheet
Fixed maturities:
U.S. government and government sponsored entities	$	5,066	$	5,212	$	5,212
Obligations of states, municipalities and political subdivisions		26,079		27,399		27,399
Non-U.S. governments		17,803		18,245		18,245
Public utilities		17,713		18,646		18,646
All other corporate debt securities		117,835		119,377		119,377
Mortgage-backed, asset-backed and collateralized		73,256		76,148		76,148
Total fixed maturity securities		257,752		265,027		265,027
Equity securities and mutual funds:
Common stock:
Public utilities		5		5		5
Banks, trust and insurance companies		1,493		2,835		2,835
Industrial, miscellaneous and all other		336		482		482
Total common stock		1,834		3,322		3,322
Preferred stock		19		22		22
Mutual funds		447		492		492
Total equity securities and mutual funds		2,300		3,836		3,836
Mortgage and other loans receivable, net of allowance		29,565		30,344		29,565
Other invested assets		29,155		29,067		29,794
Short-term investments, at cost (approximates fair value)		10,132		10,132		10,132
Derivative assets^(b)		1,309		1,309		1,309
Total investments	$	330,213	$	339,715	$	339,663

(a) Original cost of equity securities and fixed maturities is reduced by other-than-temporary impairment charges, and, as to fixed maturity securities, reduced by repayments and adjusted for amortization of premiums or accretion of discounts.

(b) The balance is reported in Other Assets.

Schedule II Condensed Financial Information of Registrant - Parent Company Only

12 Months Ended

Dec. 31, 2015

Schedule II Condensed Financial Information of Registrant - Parent Company Only

Schedule II Condensed Financial Information of Registrant - Parent Company Only

Condensed Financial Information of Registrant

Balance Sheets — Parent Company Only

		Schedule II

December 31,
(in millions)		2015		2014
Assets:
Short-term investments	$	4,042	$	6,078
Other investments		7,425		11,415
Total investments		11,467		17,493
Cash		34		26
Loans to subsidiaries^*		35,927		31,070
Due from affiliates - net^*		1,967		3,561
Intercompany tax receivable^*		3,234		-
Deferred income taxes		17,564		18,309
Investments in consolidated subsidiaries^*		51,151		62,811
Other assets		633		1,965
Total assets	$	121,977	$	135,235
Liabilities:
Due to affiliate^*	$	4,059	$	-
Intercompany tax payable^*		3,916		343
Deferred tax liabilities		9		-
Notes and bonds payable		17,136		15,821
Junior subordinated debt		1,337		2,466
MIP notes payable		1,372		2,870
Series AIGFP matched notes and bonds payable		31		33
Loans from subsidiaries^*		574		951
Other liabilities (includes intercompany derivative liabilities of $144 in 2015 and $275 in 2014)		3,885		5,853
Total liabilities		32,319		28,337
AIG Shareholders’ equity:
Common stock		4,766		4,766
Treasury stock		(30,098)		(19,218)
Additional paid-in capital		81,510		80,958
Retained earnings		30,943		29,775
Accumulated other comprehensive income		2,537		10,617
Total AIG shareholders’ equity		89,658		106,898
Total liabilities and equity	$	121,977	$	135,235

* Eliminated in consolidation.

See Accompanying Notes to Condensed Financial Information of Registrant.

Condensed Financial Information of Registrant (Continued)
Statements of Income — Parent Company Only

				Schedule II

Years Ended December 31,
(in millions)		2015		2014		2013
Revenues:
Equity in undistributed net income (loss) of consolidated subsidiaries^*	$	(2,929)	$	(5,573)	$	(2,226)
Dividend income from consolidated subsidiaries^*		6,883		15,023		9,864
Interest income		342		305		387
Net realized capital gains (losses)		(587)		8		169
Other income		333		1,345		931
Expenses:
Interest expense		1,049		1,507		1,938
Net loss on extinguishment of debt		703		2,248		580
Other expenses		1,178		1,546		1,520
Income from continuing operations before income tax expense (benefit)		1,112		5,807		5,087
Income tax benefit		(1,086)		(1,735)		(4,012)
Net income		2,198		7,542		9,099
Loss from discontinued operations		(2)		(13)		(14)
Net income attributable to AIG Parent Company	$	2,196	$	7,529	$	9,085
* Eliminated in consolidation.

See Accompanying Notes to Condensed Financial Information of Registrant.

Condensed Financial Information of Registrant (Continued)
Statements of Comprehensive Income — Parent Company Only

				Schedule II

Years Ended December 31,
(in millions)		2015		2014		2013
Net income	$	2,196	$	7,529	$	9,085
Other comprehensive income		(8,080)		4,257		(6,214)
Total comprehensive income attributable to AIG	$	(5,884)	$	11,786	$	2,871

See accompanying Notes to Condensed Financial Information of Registrant

Condensed Financial Information of Registrant (Continued)
Statements of Cash Flows — Parent Company Only

				Schedule II

Years Ended December 31,
(in millions)		2015		2014		2013
Net cash provided by operating activities	$	4,443	$	9,316	$	6,422
Cash flows from investing activities:
Sales and maturities of investments		7,609		2,996		1,074
Purchase of investments		(1,881)		(1,051)		(5,506)
Net change in restricted cash		-		(501)		493
Net change in short-term investments		2,300		5,792		2,361
Contributions to subsidiaries - net		565		(148)		(2,081)
Payments received on mortgages and other loan receivables		158		40		351
Loans to subsidiaries - net		(83)		446		3,660
Other, net		(175)		(141)		130
Net cash provided by investing activities		8,493		7,433		482
Cash flows from financing activities:
Issuance of long-term debt		5,540		3,247		2,015
Repayment of long-term debt		(6,504)		(14,468)		(7,439)
Cash dividends paid		(1,028)		(712)		(294)
Loans from subsidiaries - net		(201)		110		(123)
Purchase of Common Stock		(10,691)		(4,902)		(597)
Other, net		(44)		(28)		(517)
Net cash used in financing activities		(12,928)		(16,753)		(6,955)
Change in cash		8		(4)		(51)
Cash at beginning of year		26		30		81
Cash at end of year	$	34	$	26	$	30

Supplementary disclosure of cash flow information:
	Years Ended December 31,
(in millions)		2015		2014		2013
Cash (paid) received during the period for:
Interest:
Third party	$	(1,030)	$	(1,624)	$	(1,963)
Intercompany		-		5		(12)
Taxes:
Income tax authorities		(11)		(18)		(161)
Intercompany		829		1,172		288
Intercompany non-cash financing and investing activities:
Capital contributions to subsidiaries through forgiveness of loans		-		-		341
Other capital contributions - net		494		2,457		523
Return of capital*		-		4,836		-
Dividends received in the form of securities		2,326		3,088		-

See Accompanying Notes to Condensed Financial Information of Registrant.
* Includes $4.8 billion return of capital from AIG Capital Corporation related to the sale of ILFC.

Notes to Condensed Financial Information of Registrant

American International Group, Inc.’s (the Registrant) investments in consolidated subsidiaries are stated at cost plus equity in undistributed income of consolidated subsidiaries. The accompanying condensed financial statements of the Registrant should be read in conjunction with the consolidated financial statements and notes thereto of American International Group, Inc. and subsidiaries included in the Registrant’s 2015 Annual Report on Form 10-K for the year ended December 31, 2015 (2015 Annual Report on Form 10-K) filed with the Securities and Exchange Commission on February 19, 2016.

The Registrant includes in its Statement of Income dividends from its subsidiaries and equity in undistributed income (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries.

Certain prior period amounts have been reclassified to conform to the current period presentation.

The five-year debt maturity schedule is incorporated by reference from Note 14 to Consolidated Financial Statements.

The Registrant files a consolidated federal income tax return with certain subsidiaries and acts as an agent for the consolidated tax group when making payments to the Internal Revenue Service. The Registrant and its subsidiaries have adopted, pursuant to a written agreement, a method of allocating consolidated Federal income taxes. Amounts allocated to the subsidiaries under the written agreement are included in Due from affiliates in the accompanying Condensed Balance Sheets.

Income taxes in the accompanying Condensed Balance Sheets are composed of the Registrant’s current and deferred tax assets, the consolidated group’s current income tax receivable, deferred taxes related to tax attribute carryforwards of AIG’s U.S. consolidated income tax group and a valuation allowance to reduce the consolidated deferred tax asset to an amount more likely than not to be realized. See Note 22 to the Consolidated Financial Statements for additional information.

The consolidated U.S. deferred tax asset for net operating loss, capital loss and tax credit carryforwards and valuation allowance are recorded by the Parent Company, which files the consolidated U.S. Federal income tax return, and are not allocated to its subsidiaries. Generally, as, and if, the consolidated net operating losses and other tax attribute carryforwards are utilized, the intercompany tax balance will be settled with the subsidiaries.

Schedule III Supplementary Insurance Information

12 Months Ended

Dec. 31, 2015

Schedule III Supplementary Insurance Information

Schedule III Supplementary Insurance Information

Supplementary Insurance Information

											Schedule III

At December 31, 2015 and 2014

								Liability
								for Unpaid
								Losses and
								Loss
						Deferred		Adjustment				Policy
						Policy		Expenses,				and
						Acquisition		Future Policy		Unearned		Contract
Segment (in millions)						Costs		Benefits		Premiums		Claims
2015
Non-Life Insurance Companies					$	2,631	$	69,213	$	20,961	$	-
Life Insurance Companies						8,467		42,893		-		851
Corporate and Other^(a)						17		6,421		357		11
					$	11,115	$	118,527	$	21,318	$	862
2014
Non-Life Insurance Companies					$	2,551	$	77,839	$	21,325	$	-
Life Insurance Companies						7,258		42,004		-		818
Corporate and Other^(a)						18		166		(1)		11
					$	9,827	$	120,009	$	21,324	$	829


For the years ended December 31, 2015, 2014 and 2013

						Losses		Amortization
		Premiums				and Loss		of Deferred
		and		Net		Expenses		Policy		Other		Net
		Policy		Investment		Incurred,		Acquisition		Operating		Premiums
Segment (in millions)		Fees		Income		Benefits		Costs		Expenses		Written^(b)
2015
Commercial Insurance	$	22,720	$	5,474	$	20,425	$	2,342	$	3,775	$	21,486
Consumer Insurance		16,642		8,322		13,791		2,887		7,013		11,580
Corporate and Other^(a)		48		257		860		7		-		-
	$	39,410	$	14,053	$	35,076	$	5,236	$	10,788	$	33,066
2014
Commercial Insurance	$	22,408	$	6,393	$	16,985	$	2,512	$	3,794	$	22,044
Consumer Insurance		17,389		9,082		14,149		2,759		7,087		12,412
Corporate and Other^(a)		72		604		915		59		6		-
	$	39,869	$	16,079	$	32,049	$	5,330	$	10,887	$	34,456
2013
Commercial Insurance	$	22,209	$	6,653	$	17,415	$	2,418	$	4,049	$	21,928
Consumer Insurance		17,554		9,352		14,434		2,836		6,826		12,700
Corporate and Other^(a)		76		(195)		1,546		(97)		8		-
	$	39,839	$	15,810	$	33,395	$	5,157	$	10,883	$	34,628

(a) Includes consolidation and elimination entries.

(b) Balances reflect the segment changes discussed in Note 3 – Segment Information to the Consolidated Financial Statements.

Schedule IV Reinsurance

12 Months Ended

Dec. 31, 2015

Schedule IV Reinsurance

Schedule IV Reinsurance

Reinsurance

									Schedule IV

At December 31, 2015, 2014 and 2013 and for the years then ended

									Percent of
				Ceded to		Assumed			Amount
		Gross		Other		from Other			Assumed
(in millions)		Amount		Companies		Companies		Net Amount	to Net
2015
Long-duration insurance in force	$	1,051,571	$	177,025	$	372	$	874,918	-	%
Premiums:
Non-Life Insurance Companies	$	37,698	$	7,604	$	2,972	$	33,066	9.0	%
Life Insurance Companies		5,227		756		7		4,478	0.2
Run-off insurance lines		6		-		-		6	-
Total	$	42,931	$	8,360	$	2,979	$	37,550	7.9	%
2014
Long-duration insurance in force	$	1,033,281	$	180,178	$	410	$	853,513	-	%
Premiums:
Non-Life Insurance Companies	$	39,375	$	8,318	$	3,399	$	34,456	9.9	%
Life Insurance Companies		4,039		661		20		3,398	0.6
Run-off insurance lines		11		-		-		11	-
Total	$	43,425	$	8,979	$	3,419	$	37,865	9.0	%
2013
Long-duration insurance in force	$	946,743	$	122,012	$	427	$	825,158	0.1	%
Premiums:
Non-Life Insurance Companies	$	39,833	$	9,514	$	4,306	$	34,625	12.4	%
Life Insurance Companies		4,142		620		13		3,535	0.4
Run-off insurance lines		9		-		-		9	-
Total	$	43,984	$	10,134	$	4,319	$	38,169	11.3	%

Schedule V Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2015

Valuation and Qualifying Accounts [Abstract]

Schedule V Valuation and Qualifying Accounts

Valuation and Qualifying Accounts

												Schedule V

For the years ended December 31, 2015, 2014 and 2013

				Additions
		Balance,		Charged to				Activity of
		Beginning		Costs and				Discontinued		Divested		Other		Balance,
(in millions)		of year		Expenses		Charge Offs		Operations		Businesses		Changes^*		End of year
2015
Allowance for mortgage and
other loans receivable	$	271	$	58	$	(29)	$	-	$	3	$	5	$	308
Allowance for premiums and
insurances balances receivable		431		35		(120)		-		-		(13)		333
Allowance for reinsurance assets		258		90		(67)		-		-		(9)		272
Federal and foreign valuation
allowance for deferred tax assets		1,739		110		-		-		-		1,163		3,012
2014
Allowance for mortgage and
other loans receivable	$	312	$	(8)	$	(68)	$	-	$	1	$	34	$	271
Allowance for premiums and
insurances balances receivable		560		35		(99)		-		-		(65)		431
Allowance for reinsurance assets		276		4		(3)		-		-		(19)		258
Federal and foreign valuation
allowance for deferred tax assets		3,596		(181)		-		-		-		(1,676)		1,739
2013
Allowance for mortgage and
other loans receivable	$	405	$	20	$	(116)	$	-	$	(6)	$	9	$	312
Allowance for premiums and
insurances balances receivable		624		14		(74)		-		-		(4)		560
Allowance for reinsurance assets		338		(42)		(31)		-		-		11		276
Federal and foreign valuation
allowance for deferred tax assets		8,036		(3,165)		-		(40)		-		(1,235)		3,596

* Includes recoveries of amounts previously charged off and reclassifications to/from other accounts.

BASIS OF PRESENTATION (Policies)	12 Months Ended
BASIS OF PRESENTATION (Policies)	Dec. 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 Consolidated Statements of Income (Loss) through the date of the completion of the sale. In June 2015, we sold 86.9 million ordinary shares of AerCap by means of an underwritten public offering of 71.2 million ordinary shares and a private sale of 15.7 million ordinary shares to AerCap. We received cash proceeds of approximately $3.7 billion, reflecting proceeds of approximately $3.4 billion from the underwritten offering and cash proceeds of $250 million from the private sale of shares to AerCap. In connection with the closing of the private sale of shares to AerCap, we also received $500 million of 6.50% fixed-to-floating rate junior subordinated notes issued by AerCap Global Aviation Trust and guaranteed by AerCap and certain of its subsidiaries. These notes, included in Bonds available for sale, mature in 2045 and are callable beginning in 2025. We accounted for our interest in AerCap using the equity method of accounting through the date of the June 2015 sale, and as available for sale thereafter. In August 2015, we sold our remaining 10.7 million ordinary shares of AerCap by means of an underwritten public offering and received proceeds of approximately $500 million.
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 other invested assets, including 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)

12 Months Ended

Dec. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Investments

Fixed Maturity and Equity Securities

Other Invested Assets Carried at Fair Value

Other Invested Assets – Equity Method Investments

Other Investments

Investments in Life Settlements

Net Investment Income

Net investment income represents income primarily from the following sources:

Interest income and related expenses, including amortization of premiums and accretion of discounts with changes in the timing and the amount of expected principal and interest cash flows reflected in yield, as applicable.
Dividend income from common and preferred stocks and earnings distributions from other investments.
Realized and unrealized gains and losses from investments in other securities and investments for which we elected the fair value option.
Earnings from alternative investments.
The difference between the carrying amount of an investment in life settlements and the life insurance proceeds of the underlying life insurance policy recorded in income upon the death of the insured.

Net Realized Capital Gains and Losses

Net realized capital gains and losses are determined by specific identification. The net realized capital gains and losses are generated primarily from the following sources:

Sales or full redemptions of available for sale fixed maturity securities, available for sale equity securities, real estate and other alternative investments.
Reductions to the cost basis of available for sale fixed maturity securities, available for sale equity securities and certain other invested assets for other-than-temporary impairments.
Impairments on investments in life settlements.
Changes in fair value of derivatives except for (1) those derivatives at AIGFP and (2) those instruments that are designated as hedging instruments when the change in the fair value of the hedged item is not reported in Net realized capital gains (losses).
Exchange gains and losses resulting from foreign currency transactions.

Evaluating Investments for Other-Than-Temporary Impairments

Fixed Maturity Securities

Current delinquency rates;
Expected default rates and the timing of such defaults;
Loss severity and the timing of any recovery; and
Expected prepayment speeds.

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:

Years Ended December 31,
(in millions)		2015		2014		2013
Balance, beginning of year	$	2,659	$	3,872	$	5,164
Increases due to:
Credit impairments on new securities subject to impairment losses		111		49		47
Additional credit impairments on previously impaired securities		109		85		78
Reductions due to:
Credit impaired securities fully disposed for which there was no
prior intent or requirement to sell		(399)		(613)		(643)
Credit impaired securities for which there is a current intent or
anticipated requirement to sell		2		-		-
Accretion on securities previously impaired due to credit^*		(735)		(725)		(774)
Other		-		(9)		-
Balance, end of year	$	1,747	$	2,659	$	3,872

Equity Securities

We evaluate our available for sale equity securities for impairment by considering such securities as candidates for other-than-temporary impairment if they meet any of the following criteria:

The security has traded at a significant (25 percent or more) discount to cost for an extended period of time (nine consecutive months or longer);
A discrete credit event has occurred resulting in (i) the issuer defaulting on a material outstanding obligation; (ii) the issuer seeking protection from creditors under the bankruptcy laws or any similar laws intended for court-supervised reorganization of insolvent enterprises; or (iii) the issuer proposing a voluntary reorganization pursuant to which creditors are asked to exchange their claims for cash or securities having a fair value substantially lower than the par value of their claims; or
We have concluded that we may not realize a full recovery on our investment, regardless of the occurrence of one of the foregoing events.

Other Invested Assets

Purchased Credit Impaired (PCI) Securities

Secured Financing and Similar Arrangements

At December 31, 2015, amounts borrowed under repurchase and securities lending agreements totaled $2.9 billion.

Methodology Used to Estimate the Allowance for Credit Losses

Reinsurance

Short-Duration Reinsurance

Long-Duration Reinsurance

Deferred Policy Acquisition Costs

Derivatives and Hedge Accounting

Liability for unpaid claims and claims adjustment expense

Liability for Unpaid Losses and Loss Adjustment Expenses

Future policy benefits for life and accident and health insurance contracts and policyholder contract deposits

Policyholder Contract Deposits

Future Policy Benefits

Other Policyholder Funds

Debt

Earnings Per Share

Income Taxes

Assessment of Deferred Tax Asset Valuation Allowance

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.

Revenues and expenses

Reinsurance premiums ceded are recognized as a reduction in revenues over the period the reinsurance coverage is provided in proportion to the risks to which the premiums relate.

Premiums for long-duration insurance products and life contingent annuities are recognized as revenues when due. Estimates for premiums due but not yet collected are accrued.

Other income from our Corporate and Other category consists of the following:

Changes in fair value relating to financial assets and liabilities for which the fair value option has been elected.
Interest income and related expenses, including amortization of premiums and accretion of discounts on bonds with changes in the timing and the amount of expected principal and interest cash flows reflected in the yield, as applicable.
Dividend income from common and preferred stock and earnings distributions from other investments.
Changes in the fair value of other securities sold but not yet purchased, futures, hybrid financial instruments, securities purchased under agreements to resell, and securities sold under agreements to repurchase.
Income earned on real estate based investments and related realized gains and losses from sales, property level impairments and financing costs.
Exchange gains and losses resulting from foreign currency transactions.
Earnings from private equity funds and hedge fund investments accounted for under the equity method.
Changes in the fair value of derivatives at AIG Financial Products Corp. and related subsidiaries (collectively AIGFP).
Gains and losses recognized in earnings on derivatives designated as hedges, for the effective portion and their related hedged items.

Cash

Cash represents cash on hand and non-interest- bearing demand deposits.

Premiums and other receivables - net

Other assets

Goodwill

Goodwill was not impaired at December 31, 2015 based on the results of the goodwill impairment test.

The following table presents the changes in goodwill by reportable segment:


(in millions)	Commercial		Consumer		Other			Total
Balance at January 1, 2013:
Goodwill - gross	$	2,444	$	2,502	$	-	$	4,946
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill		1,178		291		-		1,469
Increase (decrease) due to:
Other		6		-		-		6
Balance at December 31, 2013:
Goodwill - gross		2,450		2,502		-		4,952
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill		1,184		291		-		1,475
Increase (decrease) due to:
Acquisition		-		28		-		28
Other		(49)		-		-		(49)
Balance at December 31, 2014:
Goodwill - gross		2,401		2,530		-		4,931
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill		1,135		319		-		1,454
Increase (decrease) due to:
Acquisition		96		82		30		208
Other		(50)		1		-		(49)
Balance at December 31, 2015:
Goodwill - gross		2,447		2,613		30		5,090
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill	$	1,181	$	402	$	30	$	1,613

Separate accounts

Long-Duration Contracts

Other liabilities

Foreign currency

Non-redeemable noncontrolling interest is the portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent.

Future Application of Accounting Standards

Revenue Recognition

Accounting for Share-Based Payments with Performance Targets

Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity

Consolidation: Amendments to the Consolidation Analysis

Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement

Simplifying the Presentation of Debt Issuance Costs

Short Duration Insurance Contracts

Recognition and Measurement of Financial Assets and Financial Liabilities

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Accounting Standards Adopted

Accounting Standards Adopted During 2015

Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure

Reporting Discontinued Operations

Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2015

SEGMENT INFORMATION

Schedule of continuing operations by reportable segment

				Net				Depreciation		Pre-Tax
		Total		Investment		Interest		and		Operating
(in millions)		Revenues		Income		Expense		Amortization		Income (Loss)
2015
Commercial Insurance
Property Casualty	$	23,625	$	3,596	$	12	$	2,255	$	593
Mortgage Guaranty		1,051		139		-		64		644
Institutional Markets		3,518		1,739		11		(177)		415
Total Commercial Insurance		28,194		5,474		23		2,142		1,652
Consumer Insurance
Retirement		9,298		6,002		39		(98)		2,839
Life		6,393		2,100		14		205		465
Personal Insurance		11,378		220		1		1,944		74
Total Consumer Insurance		27,069		8,322		54		2,051		3,378
Corporate and Other		2,901		617		1,313		426		(883)
AIG Consolidation and elimination		(573)		(317)		(109)		10		(92)
Total AIG Consolidated pre-tax operating income	$	57,591	$	14,096	$	1,281	$	4,629	$	4,055
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		(43)		(43)		-		-		(43)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		-		-		-		(15)
Other income (expense) - net		-		-		-		-		(233)
Loss on extinguishment of debt		-		-		-		-		(756)
Net realized capital gains		776		-		-		-		776
Income from divested businesses		(48)		-		-		-		(59)
Non-operating litigation reserves and settlements		94		-		-		-		82
Reserve development related to non-operating run-off insurance
business		-		-		-		-		(30)
Restructuring and other costs		-		-		-		-		(496)
Other		(43)		-		-		-		-
Pre-tax income	$	58,327	$	14,053	$	1,281	$	4,629	$	3,281
2014
Commercial Insurance
Property Casualty	$	25,183	$	4,298	$	-	$	2,445	$	4,248
Mortgage Guaranty		1,042		138		-		56		592
Institutional Markets		2,576		1,957		7		(215)		670
Total Commercial Insurance		28,801		6,393		7		2,286		5,510
Consumer Insurance
Retirement		9,784		6,489		23		(231)		3,495
Life		6,321		2,199		7		130		580
Personal Insurance		12,364		394		2		2,067		399
Total Consumer Insurance		28,469		9,082		32		1,966		4,474
Corporate and Other		4,206		700		1,805		346		(379)
AIG Consolidation and elimination		(475)		(356)		(126)		(181)		(31)
Total AIG Consolidated pre-tax operating income	$	61,001	$	15,819	$	1,718	$	4,417	$	9,574
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		260		260		-		-		260
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		-		-		-		(217)
Other income (expense) - net		-		-		-		-		-
Loss on extinguishment of debt		-		-		-		-		(2,282)
Net realized capital gains		739		-		-		-		739
Loss from divested businesses		1,602		-		-		31		2,169
Non-operating litigation reserves and settlements		804		-		-		-		258
Reserve development related to non-operating run-off insurance
business		-		-		-		-		-
Restructuring and other costs		-		-		-		-		-
Other		-		-		-		-		-
Pre-tax income	$	64,406	$	16,079	$	1,718	$	4,448	$	10,501
2013
Commercial Insurance
Property Casualty	$	25,108	$	4,431	$	8	$	2,393	$	4,095
Mortgage Guaranty		941		132		-		50		205
Institutional Markets		2,813		2,090		1		(160)		680
Total Commercial Insurance		28,862		6,653		9		2,283		4,980
Consumer Insurance
Retirement		9,431		6,628		3		(165)		3,490
Life		6,397		2,269		4		214		806
Personal Insurance		12,832		455		3		2,110		268
Total Consumer Insurance		28,660		9,352		10		2,159		4,564
Corporate and Other		4,073		309		2,451		221		(265)
AIG Consolidation and elimination		(71)		(343)		(328)		(26)		111
Total AIG Consolidated pre-tax operating income	$	61,524	$	15,971	$	2,142	$	4,637	$	9,390
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		(161)		(161)		-		-		(161)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		-		-		-		(1,608)
Other income (expense) - net		-		-		-		-		(72)
Loss on extinguishment of debt		-		-		-		-		(651)
Net realized capital gains		1,939		-		-		-		1,939
Loss from divested businesses		4,420		-		-		76		(177)
Non-operating litigation reserves and settlements		1,152		-		-		-		708
Reserve development related to non-operating run-off insurance
business		-		-		-		-		-
Restructuring and other costs		-		-		-		-		-
Other		-		-		-		-		-
Pre-tax income	$	68,874	$	15,810	$	2,142	$	4,713	$	9,368

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

	Year-End Identifiable Assets				Capital Expenditures
(in millions)		2015		2014		2015		2014
Total Non-Life Insurance Companies	$	150,368	$	164,299	$	991	$	697
Total Life Insurance Companies		297,499		301,295		102		114
Total Corporate and Other		141,648		159,394		629		1,021
AIG Consolidation and Elimination		(92,572)		(109,407)		-		-
Total Assets	$	496,943	$	515,581	$	1,722	$	1,832

Schedule of entity's consolidated operations and long-lived assets by major geographic area

							Real Estate and Other Fixed Assets,
	Total Revenues^*						Net of Accumulated Depreciation
(in millions)		2015		2014		2013		2015		2014		2013
U.S.	$	42,366	$	44,274	$	46,078	$	2,213	$	1,886	$	1,606
Asia Pacific		5,942		7,523		8,804		602		521		448
Other Foreign		10,019		12,609		13,992		320		293		261
Consolidated	$	58,327	$	64,406	$	68,874	$	3,135	$	2,700	$	2,315

* Revenues are generally reported according to the geographic location of the reporting unit.

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2015

FAIR VALUE MEASUREMENTS

Assets and liabilities measured at fair value on a recurring basis

December 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	$	-	$	1,844	$	-	$	-	$	-	$	1,844
Obligations of states, municipalities and political subdivisions		-		25,199		2,124		-		-		27,323
Non-U.S. governments		683		17,480		32		-		-		18,195
Corporate debt		-		134,618		1,370		-		-		135,988
RMBS		-		19,690		16,537		-		-		36,227
CMBS		-		10,986		2,585		-		-		13,571
CDO/ABS		-		8,928		6,169		-		-		15,097
Total bonds available for sale		683		218,745		28,817		-		-		248,245
Other bond securities:
U.S. government and government sponsored entities		-		3,369		-		-		-		3,369
Obligations of states, municipalities and political subdivisions		-		75		-		-		-		75
Non-U.S. governments		-		50		-		-		-		50
Corporate debt		-		2,018		17		-		-		2,035
RMBS		-		649		1,581		-		-		2,230
CMBS		-		557		193		-		-		750
CDO/ABS		-		1,218		7,055		-		-		8,273
Total other bond securities		-		7,936		8,846		-		-		16,782
Equity securities available for sale:
Common stock		2,401		-		-		-		-		2,401
Preferred stock		22		-		-		-		-		22
Mutual funds		491		1		-		-		-		492
Total equity securities available for sale		2,914		1		-		-		-		2,915
Other equity securities		906		1		14		-		-		921
Mortgage and other loans receivable		-		-		11		-		-		11
Other invested assets		2		4,256		4,654		-		-		8,912
Derivative assets:
Interest rate contracts		-		3,150		12		-		-		3,162
Foreign exchange contracts		-		766		-		-		-		766
Equity contracts		91		32		54		-		-		177
Commodity contracts		-		-		-		-		-		-
Credit contracts		-		-		3		-		-		3
Other contracts		-		2		21		-		-		23
Counterparty netting and cash collateral		-		-		-		(1,268)		(1,554)		(2,822)
Total derivative assets		91		3,950		90		(1,268)		(1,554)		1,309
Short-term investments		1,416		1,175		-		-		-		2,591
Separate account assets		73,699		5,875		-		-		-		79,574
Total	$	79,711	$	241,939	$	42,432	$	(1,268)	$	(1,554)	$	361,260
Liabilities:
Policyholder contract deposits	$	-	$	36	$	2,289	$	-	$	-	$	2,325
Other policyholder funds		6		-		-		-		-		6
Derivative liabilities:
Interest rate contracts		-		2,137		62		-		-		2,199
Foreign exchange contracts		-		1,197		7		-		-		1,204
Equity contracts		-		68		-		-		-		68
Commodity contracts		-		-		-		-		-		-
Credit contracts		-		-		508		-		-		508
Other contracts		-		-		69		-		-		69
Counterparty netting and cash collateral		-		-		-		(1,268)		(760)		(2,028)
Total derivative liabilities		-		3,402		646		(1,268)		(760)		2,020
Long-term debt		-		3,487		183		-		-		3,670
Other liabilities		-		62		-		-		-		62
Total	$	6	$	6,987	$	3,118	$	(1,268)	$	(760)	$	8,083

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 qualifying master netting agreements.

Changes in Level 3 recurring fair value measurements (Assets)

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Year		in Income		Income (Loss)		Settlements, Net		In		Out		of Year		at End of Year
December 31, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,159	$	1	$	(85)	$	154	$	-	$	(105)	$	2,124	$	-
Non-U.S. governments		30		-		(7)		10		-		(1)		32		-
Corporate debt		1,883		15		(109)		(210)		1,515		(1,724)		1,370		-
RMBS		16,805		1,052		(512)		(808)		-		-		16,537		-
CMBS		2,696		77		(95)		118		-		(211)		2,585		-
CDO/ABS		6,110		149		(258)		300		7		(139)		6,169		-
Total bonds available for sale		29,683		1,294		(1,066)		(436)		1,522		(2,180)		28,817		-
Other bond securities:
Corporate debt		-		-		-		1		16		-		17		-
RMBS		1,105		32		-		460		43		(59)		1,581		(27)
CMBS		369		(3)		-		(177)		4		-		193		(13)
CDO/ABS		7,449		646		-		(1,658)		698		(80)		7,055		(87)
Total other bond securities		8,923		675		-		(1,374)		761		(139)		8,846		(127)
Equity securities available for sale:
Common stock		1		2		-		(3)		-		-		-		-
Preferred stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		1		2		-		(3)		-		-		-		-
Other equity securities		-		(1)		-		(7)		22		-		14		(2)
Mortgage and other loans receivable		6		-		-		5		-		-		11		-
Other invested assets		5,650		435		(789)		(530)		117		(229)		4,654		-
Total	$	44,263	$	2,405	$	(1,855)	$	(2,345)	$	2,422	$	(2,548)	$	42,342	$	(129)
Liabilities:
Policyholder contract deposits	$	(1,509)	$	(315)	$	-	$	(465)	$	-	$	-	$	(2,289)	$	64
Derivative liabilities, net:
Interest rate contracts		(74)		-		-		24		-		-		(50)		(1)
Foreign exchange contracts		(8)		1		-		-		-		-		(7)		1
Equity contracts		47		2		-		5		-		-		54		(3)
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		(978)		186		-		287		-		-		(505)		95
Other contracts		(59)		79		-		(68)		-		-		(48)		76
Total derivative liabilities, net^(a)		(1,072)		268		-		248		-		-		(556)		168
Long-term debt^(b)		(213)		10		-		20		-		-		(183)		17
Total	$	(2,794)	$	(37)	$	-	$	(197)	$	-	$	-	$	(3,028)	$	249

				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 Year		in Income		Income (Loss)		Settlements, Net		In		Out		of Year		at End of Year
December 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions^(c)	$	1,080	$	-	$	233	$	914	$	119	$	(187)	$	2,159	$	-
Non-U.S. governments		16		1		(1)		9		8		(3)		30		-
Corporate debt		1,255		12		19		(257)		1,363		(509)		1,883		-
RMBS		14,941		1,012		53		796		120		(117)		16,805		-
CMBS		5,735		69		243		85		83		(3,519)		2,696		-
CDO/ABS		6,974		86		(38)		1,545		2,488		(4,945)		6,110		-
Total bonds available for sale		30,001		1,180		509		3,092		4,181		(9,280)		29,683		-
Other bond securities:
Corporate debt		-		-		-		-		-		-		-		-
RMBS		937		40		-		97		51		(20)		1,105		(13)
CMBS		844		(6)		-		(141)		124		(452)		369		(7)
CDO/ABS		8,834		1,098		-		(1,805)		271		(949)		7,449		318
Total other bond securities		10,615		1,132		-		(1,849)		446		(1,421)		8,923		298
Equity securities available for sale:
Common stock		1		-		-		(1)		2		(1)		1		-
Preferred stock		-		-		-		-		-		-		-		-
Mutual funds		-		-		-		-		1		(1)		-		-
Total equity securities available for sale		1		-		-		(1)		3		(2)		1		-
Mortgage and other loans receivable		-		-		-		6		-		-		6		-
Other invested assets		5,930		150		398		(83)		167		(912)		5,650		-
Total	$	46,547	$	2,462	$	907	$	1,165	$	4,797	$	(11,615)	$	44,263	$	298
Liabilities:
Policyholder contract deposits	$	(312)	$	(1,127)	$	(54)	$	(16)	$	-	$	-	$	(1,509)	$	(218)
Derivative liabilities, net:
Interest rate contracts		(100)		(10)		-		39		-		(3)		(74)		(10)
Foreign exchange contracts		-		2		-		(10)		-		-		(8)		3
Equity contracts		49		21		-		(18)		48		(53)		47		13
Commodity contracts		1		(1)		-		-		-		-		-		(1)
Credit contracts		(1,280)		263		-		39		-		-		(978)		268
Other contracts		(109)		99		53		(103)		1		-		(59)		82
Total derivatives liabilities, net^(a)		(1,439)		374		53		(53)		49		(56)		(1,072)		355
Long-term debt^(b)		(370)		94		-		37		(70)		96		(213)		15
Total	$	(2,121)	$	(659)	$	(1)	$	(32)	$	(21)	$	40	$	(2,794)	$	152

(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.

Changes in Level 3 recurring fair value measurements (Liabilities)

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Year		in Income		Income (Loss)		Settlements, Net		In		Out		of Year		at End of Year
December 31, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,159	$	1	$	(85)	$	154	$	-	$	(105)	$	2,124	$	-
Non-U.S. governments		30		-		(7)		10		-		(1)		32		-
Corporate debt		1,883		15		(109)		(210)		1,515		(1,724)		1,370		-
RMBS		16,805		1,052		(512)		(808)		-		-		16,537		-
CMBS		2,696		77		(95)		118		-		(211)		2,585		-
CDO/ABS		6,110		149		(258)		300		7		(139)		6,169		-
Total bonds available for sale		29,683		1,294		(1,066)		(436)		1,522		(2,180)		28,817		-
Other bond securities:
Corporate debt		-		-		-		1		16		-		17		-
RMBS		1,105		32		-		460		43		(59)		1,581		(27)
CMBS		369		(3)		-		(177)		4		-		193		(13)
CDO/ABS		7,449		646		-		(1,658)		698		(80)		7,055		(87)
Total other bond securities		8,923		675		-		(1,374)		761		(139)		8,846		(127)
Equity securities available for sale:
Common stock		1		2		-		(3)		-		-		-		-
Preferred stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		1		2		-		(3)		-		-		-		-
Other equity securities		-		(1)		-		(7)		22		-		14		(2)
Mortgage and other loans receivable		6		-		-		5		-		-		11		-
Other invested assets		5,650		435		(789)		(530)		117		(229)		4,654		-
Total	$	44,263	$	2,405	$	(1,855)	$	(2,345)	$	2,422	$	(2,548)	$	42,342	$	(129)
Liabilities:
Policyholder contract deposits	$	(1,509)	$	(315)	$	-	$	(465)	$	-	$	-	$	(2,289)	$	64
Derivative liabilities, net:
Interest rate contracts		(74)		-		-		24		-		-		(50)		(1)
Foreign exchange contracts		(8)		1		-		-		-		-		(7)		1
Equity contracts		47		2		-		5		-		-		54		(3)
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		(978)		186		-		287		-		-		(505)		95
Other contracts		(59)		79		-		(68)		-		-		(48)		76
Total derivative liabilities, net^(a)		(1,072)		268		-		248		-		-		(556)		168
Long-term debt^(b)		(213)		10		-		20		-		-		(183)		17
Total	$	(2,794)	$	(37)	$	-	$	(197)	$	-	$	-	$	(3,028)	$	249

				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 Year		in Income		Income (Loss)		Settlements, Net		In		Out		of Year		at End of Year
December 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions^(c)	$	1,080	$	-	$	233	$	914	$	119	$	(187)	$	2,159	$	-
Non-U.S. governments		16		1		(1)		9		8		(3)		30		-
Corporate debt		1,255		12		19		(257)		1,363		(509)		1,883		-
RMBS		14,941		1,012		53		796		120		(117)		16,805		-
CMBS		5,735		69		243		85		83		(3,519)		2,696		-
CDO/ABS		6,974		86		(38)		1,545		2,488		(4,945)		6,110		-
Total bonds available for sale		30,001		1,180		509		3,092		4,181		(9,280)		29,683		-
Other bond securities:
Corporate debt		-		-		-		-		-		-		-		-
RMBS		937		40		-		97		51		(20)		1,105		(13)
CMBS		844		(6)		-		(141)		124		(452)		369		(7)
CDO/ABS		8,834		1,098		-		(1,805)		271		(949)		7,449		318
Total other bond securities		10,615		1,132		-		(1,849)		446		(1,421)		8,923		298
Equity securities available for sale:
Common stock		1		-		-		(1)		2		(1)		1		-
Preferred stock		-		-		-		-		-		-		-		-
Mutual funds		-		-		-		-		1		(1)		-		-
Total equity securities available for sale		1		-		-		(1)		3		(2)		1		-
Mortgage and other loans receivable		-		-		-		6		-		-		6		-
Other invested assets		5,930		150		398		(83)		167		(912)		5,650		-
Total	$	46,547	$	2,462	$	907	$	1,165	$	4,797	$	(11,615)	$	44,263	$	298
Liabilities:
Policyholder contract deposits	$	(312)	$	(1,127)	$	(54)	$	(16)	$	-	$	-	$	(1,509)	$	(218)
Derivative liabilities, net:
Interest rate contracts		(100)		(10)		-		39		-		(3)		(74)		(10)
Foreign exchange contracts		-		2		-		(10)		-		-		(8)		3
Equity contracts		49		21		-		(18)		48		(53)		47		13
Commodity contracts		1		(1)		-		-		-		-		-		(1)
Credit contracts		(1,280)		263		-		39		-		-		(978)		268
Other contracts		(109)		99		53		(103)		1		-		(59)		82
Total derivatives liabilities, net^(a)		(1,439)		374		53		(53)		49		(56)		(1,072)		355
Long-term debt^(b)		(370)		94		-		37		(70)		96		(213)		15
Total	$	(2,121)	$	(659)	$	(1)	$	(32)	$	(21)	$	40	$	(2,794)	$	152

(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
December 31, 2015
Bonds available for sale	$	1,227	$	(49)	$	116	$	1,294
Other bond securities		44		3		628		675
Equity securities available for sale		-		2		-		2
Other equity securities		-		-		(1)		(1)
Other invested assets		45		324		66		435
Policyholder contract deposits		-		(315)		-		(315)
Derivative liabilities, net		-		(1)		269		268
Long-term debt		-		-		10		10
December 31, 2014
Bonds available for sale	$	1,236	$	(107)	$	51	$	1,180
Other bond securities		95		-		1,037		1,132
Equity securities available for sale		-		-		-		-
Other invested assets		175		(28)		3		150
Policyholder contract deposits		-		(1,127)		-		(1,127)
Derivative liabilities, net		68		8		298		374
Long-term debt		-		-		94		94

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

								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
December 31, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	279	$	(37)	$	(88)	$	154
Non-U.S. governments		18		(1)		(7)		10
Corporate debt		221		(60)		(371)		(210)
RMBS		2,215		(194)		(2,829)		(808)
CMBS		273		(28)		(127)		118
CDO/ABS		1,400		(210)		(890)		300
Total bonds available for sale		4,406		(530)		(4,312)		(436)
Other bond securities:
Corporate debt		-		-		1		1
RMBS		655		(22)		(173)		460
CMBS		-		(79)		(98)		(177)
CDO/ABS		242		(380)		(1,520)		(1,658)
Total other bond securities		897		(481)		(1,790)		(1,374)
Equity securities available for sale		-		(2)		(1)		(3)
Other equity securities		-		-		(7)		(7)
Mortgage and other loans receivable		5		-		-		5
Other invested assets		682		(587)		(625)		(530)
Total assets	$	5,990	$	(1,600)	$	(6,735)	$	(2,345)
Liabilities:
Policyholder contract deposits	$	-	$	(442)	$	(23)	$	(465)
Derivative liabilities, net		19		-		229		248
Long-term debt^(b)		-		-		20		20
Total liabilities	$	19	$	(442)	$	226	$	(197)
December 31, 2014
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions^(c)	$	1,041	$	(35)	$	(92)	$	914
Non-U.S. governments		12		-		(3)		9
Corporate debt		148		(8)		(397)		(257)
RMBS		3,301		(124)		(2,381)		796
CMBS		368		(224)		(59)		85
CDO/ABS		2,760		(70)		(1,145)		1,545
Total bonds available for sale		7,630		(461)		(4,077)		3,092
Other bond securities:
Corporate debt		-		-		-		-
RMBS		211		(31)		(83)		97
CMBS		-		(16)		(125)		(141)
CDO/ABS		55		(21)		(1,839)		(1,805)
Total other bond securities		266		(68)		(2,047)		(1,849)
Equity securities available for sale		-		-		(1)		(1)
Mortgage and other loans receivable		6		-		-		6
Other invested assets		776		(25)		(834)		(83)
Total assets	$	8,678	$	(554)	$	(6,959)	$	1,165
Liabilities:
Policyholder contract deposits	$	-	$	(149)	$	133	$	(16)
Derivative liabilities, net		2		(3)		(52)		(53)
Long-term debt^(b)		-		-		37		37
Total liabilities	$	2	$	(152)	$	118	$	(32)

(a) There were no issuances during the years ended December 31, 2015 and 2014.

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

Significant unobservable inputs used for recurring fair value measurements

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

Obligations of states,	$	1,217	Discounted cash flow	Yield	4.32% - 5.10% (4.71%)
municipalities and
political subdivisions

Corporate debt		642	Discounted cash flow	Yield	5.63% - 12.45% (9.04%)


RMBS^(a)		17,280	Discounted cash flow	Constant prepayment rate	0.99% - 8.95% (4.97%)
				Loss severity	47.21% - 79.50% (63.35%)
				Constant default rate	3.49% - 9.04% (6.26%)
				Yield	3.13% - 6.14% (4.63%)

CDO/ABS^(a)		3,338	Discounted cash flow	Yield	3.41% - 4.98% (4.19%)

CMBS		2,388	Discounted cash flow	Yield	0.00% - 17.65% (6.62%)

Liabilities:

Embedded derivatives
within Policyholder
contract deposits:

GMWB and GMAB		1,234	Discounted cash flow	Equity volatility	15.00% - 50.00%
				Base lapse rate	1.00% - 17.00%
				Dynamic lapse rate	0.20% - 25.50%
				Mortality multiplier^(c)	80.00% - 104.27%
				Utilization rate	0.00% - 70.00%
				Equity / interest-rate correlation^(d)	20.00% - 40.00%

Index Annuities		715	Discounted cash flow	Lapse rate	0.75% - 66.00%
				Mortality multiplier^(c)	50.00% - 75.00%

Indexed Life		332	Discounted cash flow	Equity volatility	13.25% to 22.00%
				Base lapse rate	2.00% to 19.00%
				Mortality rate	0.00% to 40.00%


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

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

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


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

CDO/ABS^(a)		5,282	Discounted cash flow	Yield	4.70% - 9.70% (7.10%)

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

Liabilities:

Embedded derivatives
within Policyholder
contract deposits:

GMWB and GMAB		957	Discounted cash flow	Equity volatility	6.00% - 39.00%
				Base lapse rate	1.00% - 28.00%
				Dynamic lapse rate	0.20% - 42.00%
				Mortality rate	0.10% - 35.00%
				Utilization rate	0.50% - 30.00%

Index Annuities		294	Discounted cash flow	Lapse rate	0.75% - 66.00%
				Mortality rate	0.02% - 44.06%

Indexed Life		259	Discounted cash flow	Equity volatility	10.00% to 25.00%
				Base lapse rate	2.00% to 19.00%
				Mortality rate	0.00% to 20.00%
Derivative liabilities -
credit contracts^(e)		791	BET	Recovery rate	5.00% - 23.00% (13.00%)
				Diversity score	8 - 25 (13)
				Weighted average life	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.

(c) Mortality inputs are shown as multipliers of the 2012 Individual Annuity Mortality Basic table for GMWB and GMAB, and the 1975-1980 Modified Basic Table for index annuities.

(d) An equity / interest rate correlation factor was added to the valuation model in the fourth quarter of 2015.

(e) Beginning in the third quarter of 2015, we began valuing these instruments using prices obtained from vendors and/or counterparties and discontinued use of the BET model.

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

		December 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	$	1,774	$	436	$	2,275	$	450

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		306		213		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		107		41		121		26

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		146		41		164		43

Other	Includes multi-strategy, mezzanine, and other strategies		298		239		216		234
Total private equity funds			2,631		970		3,160		980
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		1,194		-		1,109		-

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		2,978		25		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		555		-		498		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		699		8		731		5

Emerging markets	Investments in the financial markets of developing countries		353		-		308		-

Other	Includes multi-strategy, relative value, and other strategies		167		-		125		-
Total hedge funds			5,946		33		5,199		6
Total		$	8,577	$	1,003	$	8,359	$	986

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

Years Ended December 31,	Gain (Loss)
(in millions)		2015		2014		2013
Assets:
Mortgage and other loans receivable	$	-	$	-	$	3
Bond and equity securities		616		2,099		1,667
Alternative investments^(a)		36		313		360
Other, including Short-term investments		2		10		11
Liabilities:
Long-term debt^(b)		(38)		(269)		327
Other liabilities		(3)		(13)		(15)
Total gain	$	613	$	2,140	$	2,353

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

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

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

	December 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	$	11	$	9	$	2	$	6	$	4	$	2
Liabilities:
Long-term debt^*	$	3,670	$	2,675	$	995	$	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							December 31,
(in millions)		Level 1		Level 2		Level 3		Total		2015		2014		2013
December 31, 2015
Other investments	$	-	$	-	$	1,117	$	1,117	$	189	$	134	$	112
Investments in life settlements		-		-		828		828		540		201		971
Other assets		-		-		129		129		80		7		31
Total	$	-	$	-	$	2,074	$	2,074	$	809	$	342	$	1,114
December 31, 2014
Other investments	$	-	$	-	$	790	$	790
Investments in life settlements		-		-		537		537
Other assets		-		-		1		1
Total	$	-	$	-	$	1,328	$	1,328

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

	Estimated Fair Value									Carrying
(in millions)		Level 1		Level 2		Level 3		Total		Value
December 31, 2015
Assets:
Mortgage and other loans receivable	$	-	$	198	$	30,147	$	30,345	$	29,554
Other invested assets		-		563		2,880		3,443		4,169
Short-term investments		-		7,541		-		7,541		7,541
Cash		1,629		-		-		1,629		1,629
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		309		117,537		117,846		108,788
Other liabilities		-		2,852		-		2,852		2,852
Long-term debt		-		21,686		4,528		26,214		25,680
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)

12 Months Ended

Dec. 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)
December 31, 2015
Bonds available for sale:
U.S. government and government sponsored entities	$	1,698	$	155	$	(9)	$	1,844	$	-
Obligations of states, municipalities and political subdivisions		26,003		1,424		(104)		27,323		19
Non-U.S. governments		17,752		805		(362)		18,195		-
Corporate debt		133,513		6,462		(3,987)		135,988		(87)
Mortgage-backed, asset-backed and collateralized:
RMBS		33,878		2,760		(411)		36,227		1,326
CMBS		13,139		561		(129)		13,571		185
CDO/ABS		14,985		360		(248)		15,097		39
Total mortgage-backed, asset-backed and collateralized		62,002		3,681		(788)		64,895		1,550
Total bonds available for sale^(b)		240,968		12,527		(5,250)		248,245		1,482
Equity securities available for sale:
Common stock		913		1,504		(16)		2,401		-
Preferred stock		19		3		-		22		-
Mutual funds		447		53		(8)		492		-
Total equity securities available for sale		1,379		1,560		(24)		2,915		-
Total	$	242,347	$	14,087	$	(5,274)	$	251,160	$	1,482
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 December 31, 2015 and 2014, bonds available for sale held by us that were below investment grade or not rated totaled $34.9 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
December 31, 2015
Bonds available for sale:
U.S. government and government sponsored entities	$	483	$	9	$	1	$	-	$	484	$	9
Obligations of states, municipalities and political
subdivisions		2,382		87		268		17		2,650		104
Non-U.S. governments		4,327		203		832		159		5,159		362
Corporate debt		41,317		2,514		5,428		1,473		46,745		3,987
RMBS		7,215		133		4,318		278		11,533		411
CMBS		4,138		108		573		21		4,711		129
CDO/ABS		7,064		104		2,175		144		9,239		248
Total bonds available for sale		66,926		3,158		13,595		2,092		80,521		5,250
Equity securities available for sale:
Common stock		91		16		-		-		91		16
Mutual funds		200		8		-		-		200		8
Total equity securities available for sale		291		24		-		-		291		24
Total	$	67,217	$	3,182	$	13,595	$	2,092	$	80,812	$	5,274
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 Available
December 31, 2015	Available for Sale				for Sale in a Loss Position
(in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	9,176	$	9,277	$	1,122	$	1,103
Due after one year through five years		47,230		49,196		9,847		9,494
Due after five years through ten years		54,120		54,459		22,296		20,686
Due after ten years		68,440		70,418		26,235		23,755
Mortgage-backed, asset-backed and collateralized		62,002		64,895		26,271		25,483
Total	$	240,968	$	248,245	$	85,771	$	80,521
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

	Years Ended December 31,
		2015				2014				2013
		Gross		Gross		Gross		Gross	Gross		Gross
	Realized		Realized		Realized		Realized		Realized		Realized
(in millions)		Gains		Losses		Gains		Losses	Gains		Losses
Fixed maturity securities	$	517	$	423	$	703	$	118	$	2,634	$	202
Equity securities		1,060		28		135		24		130		19
Total	$	1,577	$	451	$	838	$	142	$	2,764	$	221

The fair value of AIG's other securities

		December 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	$	3,369	19	%	$	5,498	27	%
Obligations of states, municipalities and political subdivisions		75	-			122	1
Non-U.S. governments		50	-			2	-
Corporate debt		2,035	12			719	3
Mortgage-backed, asset-backed and collateralized:
RMBS		2,230	13			2,094	10
CMBS		750	4			1,077	5
CDO/ABS and other collateralized^*		8,273	47			10,200	49
Total mortgage-backed, asset-backed and collateralized		11,253	64			13,371	64
Total fixed maturity securities		16,782	95			19,712	95
Equity securities		921	5			1,049	5
Total	$	17,703	100	%	$	20,761	100	%

* Includes $712 million and $859 million of U.S. Government agency backed ABS at December 31, 2015 and 2014, respectively.

Components of other invested assets

December 31,
(in millions)		2015		2014
Alternative investments^(a)	$	18,150	$	19,656
Investment real estate^(b)		6,579		3,612
Aircraft asset investments^(c)		477		651
Investments in life settlements		3,606		3,753
Investment in AerCap		-		4,972
All other investments		982		1,874
Total	$	29,794	$	34,518

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

(b) Net of accumulated depreciation of $668 million and $315 million in 2015 and 2014, respectively.

The carrying value and ownership percentage of AIA and equity method investments

		2015			2014
		Carrying	Ownership		Carrying	Ownership
(in millions, except percentages)		Value	Percentage		Value	Percentage
Equity method investments	$	14,259	Various	$	18,951	Various

Schedule of information regarding investments in life settlements

	December 31, 2015
	Number of		Carrying	Face Value
(dollars in millions)	Contracts		Value	(Death Benefits)
Remaining Life Expectancy of Insureds:
0 – 1 year	1	$	-	$	-
1 – 2 years	9		9		17
2 – 3 years	16		10		20
3 – 4 years	72		50		113
4 – 5 years	156		235		485
Thereafter	4,300		3,302		14,233
Total	4,554	$	3,606	$	14,868

Components of net investment income

Years Ended December 31,
(in millions)		2015		2014		2013
Fixed maturity securities, including short-term investments	$	11,332	$	12,322	$	12,044
Equity securities		99		221		178
Interest on mortgage and other loans		1,417		1,272		1,144
Alternative investments^*		1,476		2,624		2,803
Real estate		181		110		128
Other investments		76		47		61
Total investment income		14,581		16,596		16,358
Investment expenses		528		517		548
Net investment income	$	14,053	$	16,079	$	15,810

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

Components of net realized capital gains (losses)

Years Ended December 31,
(in millions)		2015			2014		2013
Sales of fixed maturity securities	$	94		$	585	$	2,432
Sales of equity securities^(a)		1,032			111		111
Other-than-temporary impairments:
Severity		(13)			(3)		(6)
Change in intent		(233)			(40)		(48)
Foreign currency declines		(57)			(19)		(1)
Issuer-specific credit events		(348)			(169)		(170)
Adverse projected cash flows		(20)			(16)		(7)
Provision for loan losses		(58)			(1)		(26)
Foreign exchange transactions		416			598		151
Derivative instruments		341			(177)		287
Impairments on investments in life settlements		(540)			(201)		(971)
Other		162	^(b)		71		187
Net realized capital gains	$	776		$	739	$	1,939

(a) Includes realized gains on the sale of our equity interests in PICC.

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

	Years Ended
	December 31,
(in millions)		2015		2014
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	(9,275)	$	6,809
Equity securities		(929)		535
Other investments		(803)		376
Total increase (decrease) in unrealized appreciation (depreciation) of investments	$	(11,007)	$	7,720

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

Years Ended December 31,
(in millions)		2015		2014		2013
Balance, beginning of year	$	2,659	$	3,872	$	5,164
Increases due to:
Credit impairments on new securities subject to impairment losses		111		49		47
Additional credit impairments on previously impaired securities		109		85		78
Reductions due to:
Credit impaired securities fully disposed for which there was no
prior intent or requirement to sell		(399)		(613)		(643)
Credit impaired securities for which there is a current intent or
anticipated requirement to sell		2		-		-
Accretion on securities previously impaired due to credit^*		(735)		(725)		(774)
Other		-		(9)		-
Balance, end of year	$	1,747	$	2,659	$	3,872

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

(in millions)	At Date of Acquisition
Contractually required payments (principal and interest)	$	33,191
Cash flows expected to be collected^*		26,882
Recorded investment in acquired securities		17,955

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

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

		December 31,		December 31,
(in millions)		2015		2014
Outstanding principal balance	$	16,871	$	16,962
Amortized cost		12,303		12,216
Fair value		13,164		13,462

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

Years Ended December 31,
(in millions)		2015		2014
Balance, beginning of year	$	6,865	$	6,940
Newly purchased PCI securities		696		1,289
Disposals		(13)		-
Accretion		(879)		(880)
Effect of changes in interest rate indices		(251)		(542)
Net reclassification from (to) non-accretable difference,
including effects of prepayments		428		58
Balance, end of year	$	6,846	$	6,865

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

(in millions)		December 31, 2015		December 31, 2014
Fixed maturity securities available for sale	$	1,145	$	-
Other bond securities, at fair value		1,740		2,122

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

(in millions)		December 31, 2015		December 31, 2014
Securities collateral pledged to us	$	1,742	$	2,506
Amount sold or repledged by us		-		131

Investment [Line Items]

Summarized financial information of AIG's equity method investees

Years Ended December 31,
(in millions)		2015		2014		2013
Operating results:
Total revenues	$	22,055	$	29,579	$	19,181
Total expenses		(3,898)		(7,828)		(5,515)
Net income	$	18,157	$	21,751	$	13,666
At December 31,
(in millions)				2015		2014
Balance sheet:
Total assets			$	201,007	$	207,994
Total liabilities			$	(33,424)	$	(67,346)

LENDING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2015

LENDING ACTIVITIES

Composition of Mortgages and other loans receivable

	December 31,			December 31,
(in millions)		2015		2014
Commercial mortgages^*	$	22,067	$	18,909
Residential mortgages		2,758		1,007
Life insurance policy loans		2,597		2,710
Commercial loans, other loans and notes receivable		2,451		2,635
Total mortgage and other loans receivable		29,873		25,261
Allowance for credit losses		(308)		(271)
Mortgage and other loans receivable, net	$	29,565	$	24,990

Nonperforming loans are generally those loans where payment of contractual principal or interest is more than 90 days past due. Nonperforming mortgages were not significant for all periods presented.

Schedule of credit quality indicators for the commercial mortgage loans

	Number															Percent
December 31, 2015	of	Class														of
(dollars in millions)	Loans	Apartments			Offices		Retail	Industrial			Hotel		Others		Total^(c)	Total $
Credit Quality Indicator:
In good standing	830	$	3,916	$	7,484	$	4,809	$	1,902	$	2,082	$	1,435	$	21,628	98	%
Restructured^(a)	9		-		156		25		6		16		6		209	1
90 days or less delinquent	1		-		-		4		-		-		-		4	-
>90 days delinquent or in
process of foreclosure	9		3		205		-		6		-		12		226	1
Total^(b)	849	$	3,919	$	7,845	$	4,838	$	1,914	$	2,098	$	1,453	$	22,067	100	%
Allowance for credit losses:
Specific			-		16		1		6		1		-		24	-	%
General			35		47		29		8		15		13		147	1
Total allowance for credit losses		$	35	$	63	$	30	$	14	$	16	$	13	$	171	1	%
December 31, 2014
(dollars in millions)
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 credit losses:
Specific		$	-	$	27	$	3	$	13	$	3	$	9	$	55	-	%
General			3		59		25		9		3		5		104	1
Total allowance for credit 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. See discussion of troubled debt restructurings below.

(b) Does not reflect allowance for credit losses.

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

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

	2015						2014						2013
Years Ended December 31,		Commercial		Other				Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	159	$	112	$	271	$	201	$	111	$	312	$	159	$	246	$	405
Loans charged off		(23)		(6)		(29)		(29)		(39)		(68)		(12)		(104)		(116)
Recoveries of loans previously
charged off		4		1		5		18		16		34		3		6		9
Net charge-offs		(19)		(5)		(24)		(11)		(23)		(34)		(9)		(98)		(107)
Provision for loan losses		31		27		58		(31)		23		(8)		52		(32)		20
Other		-		3		3		-		1		1		(1)		(5)		(6)
Allowance, end of year	$	171 ^*	$	137	$	308	$	159 ^*	$	112	$	271	$	201 ^*	$	111	$	312

REINSURANCE (Tables)

12 Months Ended

Dec. 31, 2015

Effects of Reinsurance [Line Items]

Supplemental information for gross loss and benefit reserves net of ceded reinsurance

At December 31,		2015				2014
		As		Net of		As		Net of
(in millions)		Reported	Reinsurance			Reported	Reinsurance
Liability for unpaid losses and loss adjustment expenses^(a)	$	(74,942)	$	(60,603)	$	(77,260)	$	(61,612)
Future policy benefits for life and accident and health insurance contracts		(43,585)		(42,506)		(42,749)		(41,767)
Reserve for unearned premiums		(21,318)		(18,380)		(21,324)		(18,278)
Reinsurance assets^(b)		18,356				19,676

(a) In 2015 and 2014, the Net of Reinsurance amount reflects the cession under the June 17, 2011 transaction with National Indemnity Company (NICO) of $1.8 billion and $1.5 billion, respectively.

(b) Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses.

Schedule of long-duration insurance in force ceded to other insurance companies

At December 31,
(in millions)		2015		2014		2013^*
Long-duration insurance in force ceded	$	177,025	$	180,178	$	122,012

* Excludes amounts related to held-for-sale entities.

Short-Duration Reinsurance

Effects of Reinsurance [Line Items]

Schedule of insurance premiums written and earned

	Years Ended December 31,
	Non-Life Insurance Companies
(in millions)		2015		2014		2013
Premiums written:
Direct	$	37,698	$	39,375	$	39,833
Assumed		2,972		3,399		4,306
Ceded		(7,604)		(8,318)		(9,514)
Net	$	33,066	$	34,456	$	34,625
Premiums earned:
Direct	$	37,105	$	38,707	$	39,018
Assumed		2,659		3,258		3,516
Ceded		(7,593)		(8,140)		(8,585)
Net	$	32,171	$	33,825	$	33,949

Long-Duration Reinsurance

Effects of Reinsurance [Line Items]

Schedule of insurance premiums written and earned

Years Ended
December 31,	Life Insurance Companies						Run-off insurance lines						Total
(in millions)		2015		2014		2013		2015		2014		2013		2015		2014		2013
Gross premiums	$	5,234	$	4,059	$	4,155	$	6	$	11	$	9	$	5,240	$	4,070	$	4,164
Ceded premiums		(756)		(661)		(620)		-		-		-		(756)		(661)		(620)
Net	$	4,478	$	3,398	$	3,535	$	6	$	11	$	9	$	4,484	$	3,409	$	3,544

DEFERRED POLICY ACQUISITION COSTS (Tables)

12 Months Ended

Dec. 31, 2015

DEFERRED POLICY ACQUISITION COSTS

Rollforward of DAC

Years Ended December 31,
(in millions)		2015		2014		2013
Non-Life Insurance Companies:
Balance, beginning of year	$	2,551	$	2,493	$	2,342
Acquisition costs deferred		4,537		4,805		4,803
Amortization expense		(4,313)		(4,599)		(4,481)
Other		(144)		(148)		(171)
Balance, end of year	$	2,631	$	2,551	$	2,493
Life Insurance Companies:
Balance, beginning of year	$	7,258	$	6,920	$	5,815
Acquisition costs deferred		1,288		1,114		1,034
Amortization expense		(916)		(727)		(674)
Change in net unrealized gains (losses) on securities		848		(360)		784
Decrease due to foreign exchange		(34)		(32)		(39)
Other		23		343		-
Balance, end of year	$	8,467	$	7,258	$	6,920
Consolidation and eliminations		17		18		23
Total deferred policy acquisition costs^*	$	11,115	$	9,827	$	9,436
Supplemental Information:
VOBA amortization expense included in Life Insurance Companies DAC amortization		64		17		23
VOBA, end of year included in Life Insurance Companies DAC balance		453		510		373

VARIABLE INTEREST ENTITIES (Tables)

12 Months Ended

Dec. 31, 2015

Variable Interest Entity Primary Beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

(in millions)		Real Estate and Investment Entities^(d)		Securitization Vehicles		Structured Investment Vehicle		Affordable Housing Partnerships		Other		Total
December 31, 2015
Assets:
Bonds available for sale	$	-	$	10,309	$	-	$	-	$	15	$	10,324
Other bond securities		-		5,756		387		-		24		6,167
Mortgage and other loans receivable		1		1,960		-		-		132		2,093
Other invested assets		489		477		-		2,608		24		3,598
Other^(a)		29		1,349		94		293		159		1,924
Total assets^(b)(e)	$	519	$	19,851	$	481	$	2,901	$	354	$	24,106
Liabilities:
Long-term debt	$	-	$	1,025	$	53	$	1,513	$	6	$	2,597
Other^(c)		34		236		1		214		71		556
Total liabilities^(e)	$	34	$	1,261	$	54	$	1,727	$	77	$	3,153
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 or Other assets at December 31, 2015 and 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 December 31, 2015 and 2014.

(d) At December 31, 2015 and 2014, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $131.2 million and $56.4 million, respectively.

(e) Includes the effect of consolidating previously unconsolidated partnerships.

Variable Interest Entity Not Primary Beneficiary

Variable Interest Entities [Line Items]

Schedule of Variable Interest Entities

			Maximum Exposure to Loss
		Total VIE		On-Balance		Off-Balance
(in millions)		Assets		Sheet^(a)		Sheet			Total
December 31, 2015
Real estate and investment entities	$	21,951	$	3,072	$	398		$	3,470
Affordable housing partnerships		5,255		774		-			774
Other		1,110		215		1,000			1,215
Total	$	28,316	$	4,061	$	1,398		$	5,459
December 31, 2014
Real estate and investment entities	$	19,949	$	2,785	$	454		$	3,239
Affordable housing partnerships		7,911		425		-			425
Other^(c)		1,959		304		992	^(b)		1,296
Total	$	29,819	$	3,514	$	1,446		$	4,960

(a) At December 31, 2015 and 2014, $3.8 billion and $3.2 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

DERIVATIVES AND HEDGE ACCOUNTING (Tables)

12 Months Ended

Dec. 31, 2015

DERIVATIVES AND HEDGE ACCOUNTING

Notional amounts and fair values of derivative instruments

	December 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		Amount		Value		Amount		Value		Amount		Value
Derivatives designated as
hedging instruments:^(a)
Interest rate contracts	$	301	$	1	$	725	$	2	$	155	$	-	$	25	$	2
Foreign exchange contracts		2,903		207		914		56		611		25		1,794		239
Equity contracts		-		-		121		23		7		1		104		13
Derivatives not designated
as hedging instruments:^(a)
Interest rate contracts		45,846		3,161		65,733		2,197		65,070		3,743		45,104		3,131
Foreign exchange contracts		9,472		559		8,900		1,148		13,667		815		8,516		1,251
Equity contracts		6,656		177		5,028		45		7,565		206		3,049		90
Commodity contracts		-		-		-		-		15		-		11		6
Credit contracts^(b)		4		3		1,289		508		5		4		5,288		982
Other contracts^(c)		37,586		23		203		69		36,155		31		538		90
Total derivatives, gross	$	102,768	$	4,131	$	82,913	$	4,048	$	123,250	$	4,825	$	64,429	$	5,804
Counterparty netting^(d)				(1,268)				(1,268)				(2,102)				(2,102)
Cash collateral^(e)				(1,554)				(760)				(1,119)				(1,429)
Total derivatives on
consolidated balance sheets^(f)			$	1,309			$	2,020			$	1,604			$	2,273

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

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

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

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)
Year ended December 31, 2015
Interest rate contracts:
Realized capital gains/(losses)	$	-	$	1	$	1	$	-	$	-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		9		-		-		9
Gain/(Loss) on extinguishment of debt		-		14		-		-		14
Foreign exchange contracts:
Realized capital gains/(losses)		202		(167)		-		32		3
Interest credited to policyholder
account balances		-		(1)		-		-		(1)
Other income		-		17		-		-		17
Gain/(Loss) on extinguishment of debt		-		17		-		-		17
Equity contracts:
Realized capital gains/(losses)		(45)		45		-		-		-
Year ended December 31, 2014
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(2)	$	-	$	-	$	(1)
Interest credited to policyholder
account balances		-		(1)		-		-		(1)
Other income		-		43		-		-		43
Gain/(Loss) on extinguishment of debt		-		164		-		-		164
Foreign exchange contracts:
Realized capital gains/(losses)		(129)		147		-		8		10
Interest credited to policyholder
account balances		-		(3)		-		-		(3)
Other income		-		23		-		-		23
Gain/(Loss) on extinguishment of debt		-		2		-		-		2
Equity contracts:
Realized capital gains/(losses)		(23)		22		-		(1)		-
Year ended December 31, 2013
Interest rate contracts:
Realized capital gains/(losses)	$	(5)	$	5	$	-	$	-	$	-
Interest credited to policyholder
account balances		-		(2)		-		-		(2)
Other income		-		99		-		-		99
Foreign exchange contracts:
Realized capital gains/(losses)		(187)		204		-		17		-

(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)
Years Ended December 31,	Recognized in Earnings
(in millions)		2015		2014		2013
By Derivative Type:
Interest rate contracts	$	339	$	851	$	(259)
Foreign exchange contracts		416		309		41
Equity contracts		(182)		(274)		(507)
Commodity contracts		(1)		(1)		(4)
Credit contracts		186		263		567
Other contracts		69		192		85
Embedded derivatives		49		(841)		1,099
Total	$	876	$	499	$	1,022
By Classification:
Policy fees	$	78	$	-	$	-
Net investment income		26		102		28
Net realized capital gains (losses)		365		(219)		257
Other income		401		599		750
Policyholder benefits and claims incurred		6		17		(13)
Total	$	876	$	499	$	1,022

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41641-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41678-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579240-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41620-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

GOODWILL (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill Disclosure

Schedule of changes in goodwill by reportable segment


(in millions)	Commercial		Consumer		Other			Total
Balance at January 1, 2013:
Goodwill - gross	$	2,444	$	2,502	$	-	$	4,946
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill		1,178		291		-		1,469
Increase (decrease) due to:
Other		6		-		-		6
Balance at December 31, 2013:
Goodwill - gross		2,450		2,502		-		4,952
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill		1,184		291		-		1,475
Increase (decrease) due to:
Acquisition		-		28		-		28
Other		(49)		-		-		(49)
Balance at December 31, 2014:
Goodwill - gross		2,401		2,530		-		4,931
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill		1,135		319		-		1,454
Increase (decrease) due to:
Acquisition		96		82		30		208
Other		(50)		1		-		(49)
Balance at December 31, 2015:
Goodwill - gross		2,447		2,613		30		5,090
Accumulated impairments		(1,266)		(2,211)		-		(3,477)
Net goodwill	$	1,181	$	402	$	30	$	1,613

INSURANCE LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2015

LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS

Schedule of reconciliation of activity in the liability for unpaid claims and claims adjustment expense

Years Ended December 31,
(in millions)		2015		2014		2013
Liability for unpaid losses and loss adjustment expenses, beginning of year	$	77,260	$	81,547	$	87,991
Reinsurance recoverable		(15,648)		(17,231)		(19,209)
Net liability for unpaid losses and loss adjustment expenses, beginning of year		61,612		64,316		68,782
Foreign exchange effect		(1,429)		(1,061)		(617)
Dispositions		-		-		(79)
Changes in net loss reserves due to retroactive asbestos reinsurance transaction		20		141		22
Total		60,203		63,396		68,108
Losses and loss adjustment expenses incurred:
Current year		20,308		21,279		22,171
Prior years, excluding discount		4,119		703		557
Prior years, discount charge (benefit)		(71)		478		(309)
Total		24,356		22,460		22,419
Losses and loss adjustment expenses paid^*:
Current year		5,751		6,358		7,431
Prior years		18,205		17,886		18,780
Total		23,956		24,244		26,211
Balance, end of year:
Net liability for unpaid losses and loss adjustment expenses		60,603		61,612		64,316
Reinsurance recoverable		14,339		15,648		17,231
Total	$	74,942	$	77,260	$	81,547

* Includes amounts related to dispositions through the date of disposition.

Schedule of Policyholder contract deposits by product type

At December 31,
(in millions)		2015		2014
Policyholder contract deposits:
Fixed Annuities	$	52,397	$	53,370
Group Retirement		37,865		37,693
Life		14,028		13,717
Retirement Income Solutions		13,927		10,040
Institutional Markets		9,371		9,793
Total Policyholder contract deposits	$	127,588	$	124,613

VARIABLE LIFE AND ANNUITY CONTRACTS (Tables)

12 Months Ended

Dec. 31, 2015

VARIABLE LIFE AND ANNUITY CONTRACTS

Schedule of Account balances of variable annuity contracts with guarantees were invested in separate account investment

At December 31,
(in millions)		2015		2014
Equity funds	$	39,284	$	40,811
Bond funds		7,261		7,566
Balanced funds		24,849		22,354
Money market funds		826		797
Total	$	72,220	$	71,528

Schedule of details concerning entity's GMDB exposures, by benefit type

At December 31,	2015				2014
		Net Deposits				Net Deposits
		Plus a Minimum		Highest Contract		Plus a Minimum		Highest Contract
(dollars in billions)		Return		Value Attained		Return		Value Attained
Account value	$	87	$	16	$	85	$	17
Net amount at risk		2		1		1		1
Average attained age of contract holders by product		63		69		62		68
Range of guaranteed minimum return rates		0-4.5%				0%-5%

Schedule of changes in GMDB and GMIB liabilities for guarantees on variable contracts reflected in the general account

Years Ended December 31,
(in millions)		2015		2014		2013
Balance, beginning of year	$	420	$	394	$	413
Reserve increase		127		93		32
Benefits paid		(56)		(67)		(51)
Balance, end of year	$	491	$	420	$	394

DEBT (Tables)

12 Months Ended

Dec. 31, 2015

DEBT

Schedule of total debt outstanding

				Balance at		Balance at
At December 31, 2015	Range of	Maturity		December 31,		December 31,
(in millions)	Interest Rate(s)	Date(s)			2015		2014
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable	2.30% - 8.13%		2016 - 2097	$	17,136	$	15,570
Subordinated debt	2.38%		2015		-		250
Junior subordinated debt	4.88% - 8.63%		2037 - 2058		1,337		2,466
AIG Japan Holdings Kabushiki Kaisha	0.44% - 1.25%		2016 - 2019		106		-
AIGLH notes and bonds payable	6.63% - 7.50%		2025 - 2029		284		284
AIGLH junior subordinated debt	7.57% - 8.50%		2030 - 2046		422		536
Total AIG general borrowings					19,285		19,106
AIG borrowings supported by assets:^(a)
MIP notes payable	2.28% - 8.59%		2016 - 2018		1,372		2,870
Series AIGFP matched notes and bonds payable	0.16% - 7.50%		2017 - 2047		34		34
GIAs, at fair value	0.02% - 7.62%		2016 - 2047		3,276		4,648
Notes and bonds payable, at fair value	0.12% - 10.37%		2016 - 2047		394		818
Total AIG borrowings supported by assets					5,076		8,370
Total debt issued or guaranteed by AIG					24,361		27,476
Debt not guaranteed by AIG:
Other subsidiaries notes, bonds, loans and
mortgages payable	0.06%		2017		2		58
Debt of consolidated investments^(b)	0.00% - 6.6%		2016 - 2062		4,987		3,683
Total debt not guaranteed by AIG					4,989		3,741
Total long term debt				$	29,350	$	31,217

Maturities of long-term debt, excluding borrowings of debt of consolidated investments

December 31, 2015			Year Ending
(in millions)		Total		2016		2017		2018		2019		2020		Thereafter
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable	$	17,136	$	992	$	192	$	1,106	$	999	$	1,345	$	12,502
Subordinated debt		-		-		-		-		-		-		-
Junior subordinated debt		1,337		-		-		-		-		-		1,337
AIG Japan Holdings Kabushiki Kaisha		106		-		-		-		106		-		-
AIGLH notes and bonds payable		284		-		-		-		-		-		284
AIGLH junior subordinated debt		422		-		-		-		-		-		422
Total AIG general borrowings		19,285		992		192		1,106		1,105		1,345		14,545
AIG borrowings supported by assets:
MIP notes payable		1,372		245		781		346		-		-		-
Series AIGFP matched notes and
bonds payable		34		-		10		-		-		-		24
GIAs, at fair value		3,276		190		176		464		90		41		2,315
Notes and bonds payable, at fair value		394		192		10		123		-		-		69
Total AIG borrowings supported by assets		5,076		627		977		933		90		41		2,408
Total debt issued or guaranteed by AIG		24,361		1,619		1,169		2,039		1,195		1,386		16,953
Other subsidiaries notes, bonds, loans
and mortgages payable		2		-		2		-		-		-		-
Total	$	24,363	$	1,619	$	1,171	$	2,039	$	1,195	$	1,386	$	16,953

Schedule of detail for uncollateralized and collateralized notes, bonds, loans and mortgages payable

		Uncollateralized		Collateralized
At December 31, 2015		Notes/Bonds/Loans		Loans and
(in millions)		Payable		Mortgages Payable		Total
AIG general borrowings	$	-	$	106	$	106
Other subsidiaries notes, bonds, loans and mortgages payable^*		-		2		2
Total	$	-	$	108	$	108

* AIG does not guarantee any of these borrowings.

Summary of the Four-Year Facility

At December 31, 2015				Available		Effective
(in millions)		Size		Amount	Expiration	Date
Five-Year Syndicated Credit Facility	$	4,500	$	4,500	November 2020	11/5/2015

EQUITY (Tables)

12 Months Ended

Dec. 31, 2015

EQUITY

Rollforward of common stock outstanding

	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Year Ended December 31, 2013
Shares, beginning of year	1,906,611,680	(430,289,745)	1,476,321,935
Shares issued	34,009	24,778	58,787
Shares repurchased	-	(12,317,399)	(12,317,399)
Shares, end of year	1,906,645,689	(442,582,366)	1,464,063,323
Year Ended December 31, 2014
Shares, beginning of year	1,906,645,689	(442,582,366)	1,464,063,323
Shares issued	25,803	15,748	41,551
Shares repurchased	-	(88,177,903)	(88,177,903)
Shares, end of year	1,906,671,492	(530,744,521)	1,375,926,971
Year Ended December 31, 2015
Shares, beginning of year	1,906,671,492	(530,744,521)	1,375,926,971
Shares issued	-	371,806	371,806
Shares repurchased	-	(182,382,160)	(182,382,160)
Shares, end of year	1,906,671,492	(712,754,875)	1,193,916,617

Accumulated Other Comprehensive Income (Loss)

	Unrealized Appreciation
	(Depreciation) of Fixed
	Maturity Investments			Unrealized
	on Which Other-Than-			Appreciation		Foreign		Retirement
	Temporary Credit			(Depreciation)		Currency		Plan
	Impairments			of All Other		Translation		Liabilities
(in millions)	Were Taken			Investments		Adjustments		Adjustment		Total
Balance, January 1, 2013, net of tax	$	575	$	13,446	$	(403)	$	(1,044)	$	12,574
Change in unrealized
appreciation (depreciation) of investments		464		(14,069)		-		-		(13,605)
Change in deferred policy
acquisition costs adjustment and other		(127)		1,000		-		-		873
Change in future policy benefits		79		2,658		-		-		2,737
Change in foreign currency
translation adjustments		-		-		(454)		-		(454)
Net actuarial gain		-		-		-		1,012		1,012
Prior service credit		-		-		-		(51)		(51)
Change in deferred tax asset (liability)		(55)		3,738		(102)		(330)		3,251
Total other comprehensive income (loss)		361		(6,673)		(556)		631		(6,237)
Noncontrolling interests		-		(16)		(7)		-		(23)
Balance, December 31, 2013, net of tax	$	936	$	6,789	$	(952)	$	(413)	$	6,360
Change in unrealized
appreciation of investments		156		7,564		-		-		7,720
Change in deferred policy
acquisition costs adjustment and other		68		(495)		-		-		(427)
Change in future policy benefits		(133)		(1,113)		-		-		(1,246)
Change in foreign currency
translation adjustments		-		-		(833)		-		(833)
Net actuarial loss		-		-		-		(815)		(815)
Prior service credit		-		-		-		(49)		(49)
Change in deferred tax asset (liability)		16		(418)		1		308		(93)
Total other comprehensive income (loss)		107		5,538		(832)		(556)		4,257
Noncontrolling interests		-		-		-		-		-
Balance, December 31, 2014, net of tax	$	1,043	$	12,327	$	(1,784)	$	(969)	$	10,617
Change in unrealized
depreciation of investments		(488)		(10,519)		-		-		(11,007)
Change in deferred policy
acquisition costs adjustment and other		(146)		1,265		-		-		1,119
Change in future policy benefits		92		1,112		-		-		1,204
Change in foreign currency
translation adjustments		-		-		(1,129)		-		(1,129)
Net actuarial gain		-		-		-		413		413
Prior service credit		-		-		-		(239)		(239)
Change in deferred tax asset (liability)		195		1,380		29		(51)		1,553
Total other comprehensive income (loss)		(347)		(6,762)		(1,100)		123		(8,086)
Noncontrolling interests		-		(1)		(5)		-		(6)
Balance, December 31, 2015, net of tax	$	696	$	5,566	$	(2,879)	$	(846)	$	2,537

Other comprehensive income (loss) reclassification adjustments

		Unrealized Appreciation
		(Depreciation) of Fixed
		Maturity Securities		Unrealized
		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
December 31, 2013
Unrealized change arising during period	$	507	$	(9,556)	$	(454)	$	851	$	(8,652)
Less: Reclassification adjustments
included in net income		91		855		-		(110)		836
Total other comprehensive income (loss),
before income tax expense (benefit)		416		(10,411)		(454)		961		(9,488)
Less: Income tax expense (benefit)		55		(3,738)		102		330		(3,251)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	361	$	(6,673)	$	(556)	$	631	$	(6,237)

December 31, 2014
Unrealized change arising during period	$	119	$	6,488	$	(833)	$	(866)	$	4,908
Less: Reclassification adjustments
included in net income		28		532		-		(2)		558
Total other comprehensive income (loss),
before income tax expense (benefit)		91		5,956		(833)		(864)		4,350
Less: Income tax expense (benefit)		(16)		418		(1)		(308)		93
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	107	$	5,538	$	(832)	$	(556)	$	4,257

December 31, 2015
Unrealized change arising during period	$	(471)	$	(7,068)	$	(1,129)	$	285	$	(8,383)
Less: Reclassification adjustments
included in net income		71		1,074		-		111		1,256
Total other comprehensive income (loss),
before income tax expense (benefit)		(542)		(8,142)		(1,129)		174		(9,639)
Less: Income tax expense (benefit)		(195)		(1,380)		(29)		51		(1,553)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(347)	$	(6,762)	$	(1,100)	$	123	$	(8,086)

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
Years Ended December 31,	Comprehensive Income						Affected Line Item in the
(in millions)	2015			2014		2013	Consolidated Statements of Income
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were recognized

Investments	$	71	$	28	$	91	Other realized capital gains
Total		71		28		91
Unrealized appreciation (depreciation) of all other investments
Investments		1,054		669		2,452	Other realized capital gains
Deferred acquisition costs adjustment		3		(20)		(28)	Amortization of deferred policy acquisition costs
Future policy benefits		17		(117)		(1,569)	Policyholder benefits and losses incurred
Total		1,074		532		855
Change in retirement plan liabilities adjustment
Prior-service costs		214		47		47	*
Actuarial gains/(losses)		(103)		(49)		(157)	*
Total		111		(2)		(110)
Total reclassifications for the period	$	1,256	$	558	$	836

* These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 20 to the 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27011957&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6403732&loc=d3e21300-112643

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28,29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5

+ Details

EARNINGS PER SHARE (EPS) (Tables)

12 Months Ended

Dec. 31, 2015

EARNINGS PER SHARE (EPS)

Computation of basic and diluted EPS

Years Ended December 31,
(dollars in millions, except per share data)		2015		2014		2013
Numerator for EPS:
Income from continuing operations	$	2,222	$	7,574	$	9,008
Less: Net income (loss) from continuing operations attributable to noncontrolling interests		26		(5)		7
Income attributable to AIG common shareholders from continuing operations		2,196		7,579		9,001
Income (loss) from discontinued operations		-		(50)		84
Net income attributable to AIG common shareholders	$	2,196	$	7,529	$	9,085
Denominator for EPS:
Weighted average shares outstanding — basic		1,299,825,350		1,427,959,799		1,474,171,690
Dilutive shares		34,639,533		19,593,853		7,035,107
Weighted average shares outstanding — diluted^*		1,334,464,883		1,447,553,652		1,481,206,797
Income per common share attributable to AIG:
Basic:
Income from continuing operations	$	1.69	$	5.31	$	6.11
Income from discontinued operations	$	-	$	(0.04)	$	0.05
Net Income attributable to AIG	$	1.69	$	5.27	$	6.16
Diluted:
Income from continuing operations	$	1.65	$	5.24	$	6.08
Income from discontinued operations	$	-	$	(0.04)	$	0.05
Net Income attributable to AIG	$	1.65	$	5.20	$	6.13

STATUTORY FINANCIAL DATA AND RESTRICTIONS (Tables)

12 Months Ended

Dec. 31, 2015

STATUTORY FINANCIAL DATA AND RESTRICTIONS

Schedule of statutory capital and surplus and net income (loss) for AIG property casualty and AIG life and retirement operations in accordance with statutory accounting practices

(in millions)		2015		2014		2013
Years Ended December 31,
Statutory net income (loss)^{(a)(b)(c)(d)(e)}:
Non-Life Insurance Companies:
Domestic^(d)(e)	$	1,202	$	3,265	$	11,440
Foreign		521		1,252		842
Total Non-Life Insurance Companies		1,723		4,517		12,282
Life Insurance Companies:
Domestic		2,672		2,865		5,047
Foreign		(16)		(9)		(9)
Total Life Insurance Companies		2,656		2,856		5,038
At December 31,
Statutory capital and surplus^(a)(c)(d)(e):
Non-Life Insurance Companies:
Domestic^(d)(e)	$	24,358	$	27,621
Foreign		11,465		12,183
Total Non-Life Insurance Companies		35,823		39,804
Life Insurance Companies:
Domestic		8,287		9,879
Foreign		422		437
Total Life Insurance Companies		8,709		10,316
Aggregate minimum required statutory capital and surplus:
Non-Life Insurance Companies^(f):
Domestic^(f)	$	6,493	$	7,540
Foreign		7,554		8,210
Total Non-Life Insurance Companies		14,047		15,750
Life Insurance Companies:
Domestic		3,658		3,674
Foreign		45		46
Total Life Insurance Companies		3,703		3,720

(a) Excludes discontinued operations and other divested businesses. Statutory capital and surplus and net income (loss) with respect to foreign operations are as of November 30.

(f) For the year ended December 31, 2015, excluded $274 million for Eaglestone.

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References + Details

SHARE-BASED AND OTHER COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2015

SHARE-BASED AND OTHER COMPENSATION PLANS

Schedule of share-based compensation expense recognized in Consolidated Statements of Income

Years Ended December 31,
(in millions)		2015		2014		2013
Share-based compensation expense - pre-tax^*	$	365	$	349	$	457
Share-based compensation expense - after tax		237		227		297

Schedule of assumptions used to estimate the fair value of PSUs based on AIG's TSR

	2015		2014		2013
Expected dividend yield^(a)	1.78	%	1.13	%	0.38	%
Expected volatility^(b)	22.71	%	23.66	%	30.79	%
Risk-free interest rate^(c)	1.01	%	0.76	%	0.50	%

(a) The dividend yield is the projected annualized AIG dividend yield estimated by Bloomberg Professional service as of the valuation date.

Summary of outstanding share-settled awards

				Weighted Average
As of or for the Year	Number of PSUs^(b)			Grant-Date Fair Value
Ended December 31, 2015	2015 LTI	2014 LTI	2013 LTI		2015 LTI		2014 LTI		2013 LTI
Unvested, beginning of year	-	4,036,527	4,066,182	$	-	$	48.72	$	37.09
Granted	6,445,639	10,225	-		54.55		52.83		-
Vested	(3,212,976)	(1,270,263)	(1,593,595)		54.09		48.56		37.09
Forfeited	(185,705)	(217,130)	(222,478)		53.66		48.78		37.38
Unvested, end of year	3,046,958	2,559,359	2,250,109	$	55.08	$	48.82	$	37.07

(a) Excludes SICO awards, DSUs and options, which are discussed under the SICO Plans, Non-Employee Plans and Stock Options sections, respectively.

Schedule of stock option activity

					Weighted
					Average
					Remaining
		Weighted Average			Contractual
As of or for the Year Ended December 31, 2015	Shares	Exercise Price			Life
Options:
Exercisable at beginning of year	202,275		$	1,037.74	2.17
Expired	(108,763)		$	1,261.25
Exercisable at end of year	93,512		$	777.78	2.16

Summary of SARs (based on target amounts) and cash-settled RSUs (excluding stock salary) including the related expenses

		Number of Units
Year Ended December 31, 2015		RSUs^*
Unvested, beginning of year		1,404,645
Granted		-
Vested		(975,715)
Forfeited		(15,972)
Unvested, end of year		412,958
Net compensation expense for the year (in millions)	$	17

* Total unrecognized compensation as of December 31, 2015 is $1 million; the unvested RSUs will vest and settle in March 2016.

EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2015

Defined Benefit Plan Disclosure [Line Items]

Schedule of funded status of the plans reconciled to the amount reported in the balance sheets

As of or for the Years Ended		Pension								Postretirement^(a)
December 31,		U.S. Plans^(b)			Non-U.S. Plans^(b)					U.S. Plans			Non-U.S. Plans
(in millions)		2015		2014		2015		2014		2015		2014		2015		2014
Change in projected benefit obligation:
Benefit obligation, beginning of year	$	5,769	$	4,882	$	1,099	$	1,072	$	229	$	217	$	64	$	52
Service cost		192		173		43		42		5		4		3		2
Interest cost		220		228		25		29		8		9		3		2
Actuarial (gain) loss		(423)		780		(16)		114		(23)		10		9		11
Benefits paid:
AIG assets		(17)		(15)		(9)		(15)		(11)		(11)		(1)		(1)
Plan assets		(285)		(279)		(24)		(24)		-		-		-		-
Plan amendment		(132)		-		24		(1)		-		-		-		-
Settlements		-		-		(15)		(9)		-		-		-		-
Foreign exchange effect		-		-		(67)		(107)		-		-		(3)		(2)
Acquisitions		-		-		72		-		-		-		-		-
Other		-		-		14		(2)		-		-		-		-
Projected benefit obligation, end of year	$	5,324	$	5,769	$	1,146	$	1,099	$	208	$	229	$	75	$	64
Change in plan assets:
Fair value of plan assets, beginning
of year	$	4,111	$	4,024	$	708	$	738	$	-	$	-	$	-	$	-
Actual return on plan assets, net of expenses		(8)		266		47		71		-		-		-		-
AIG contributions		558		115		62		67		11		11		1		1
Benefits paid:
AIG assets		(17)		(15)		(9)		(15)		(11)		(11)		(1)		(1)
Plan assets		(285)		(279)		(24)		(24)		-		-		-		-
Settlements		-		-		(15)		(8)		-		-		-		-
Foreign exchange effect		-		-		(44)		(75)		-		-		-		-
Acquisitions		-		-		35		-		-		-		-		-
Other		-		-		13		(46)		-		-		-		-
Fair value of plan assets, end of year	$	4,359	$	4,111	$	773	$	708	$	-	$	-	$	-	$	-
Funded status, end of year	$	(965)	$	(1,658)	$	(373)	$	(391)	$	(208)	$	(229)	$	(75)	$	(64)
Amounts recognized in the balance
sheet:
Assets	$	-	$	-	$	46	$	46	$	-	$	-	$	-	$	-
Liabilities		(965)		(1,658)		(419)		(437)		(208)		(229)		(75)		(64)
Total amounts recognized	$	(965)	$	(1,658)	$	(373)	$	(391)	$	(208)	$	(229)	$	(75)	$	(64)
Pre-tax amounts recognized in Accumulated
other comprehensive income:
Net gain (loss)	$	(1,324)	$	(1,667)	$	(161)	$	(227)	$	13	$	(9)	$	(16)	$	(8)
Prior service (cost) credit		-		200		(16)		11		13		24		-		1
Total amounts recognized	$	(1,324)	$	(1,467)	$	(177)	$	(216)	$	26	$	15	$	(16)	$	(7)

(a) We do not currently fund postretirement benefits.

Schedule of components of net periodic benefit cost

	Pension												Postretirement
	U.S. Plans						Non-U.S. Plans						U.S. Plans						Non-U.S. Plans
(in millions)		2015		2014		2013		2015		2014		2013		2015		2014		2013		2015		2014		2013
Components of net periodic benefit cost:
Service cost	$	192	$	173	$	205	$	43	$	42	$	47	$	5	$	4	$	5	$	3	$	2	$	3
Interest cost		220		228		201		25		29		29		8		9		8		3		2		2
Expected return on assets		(295)		(288)		(257)		(25)		(22)		(19)		-		-		-		-		-		-
Amortization of prior service credit		(22)		(33)		(33)		(2)		(3)		(3)		(11)		(11)		(11)		(1)		-		-
Amortization of net loss		92		42		138		9		7		13		-		-		1		-		-		-
Curtailment (gain) loss		(179)		-		-		(1)		1		(1)		-		-		-		-		-		(2)
Settlement loss		-		-		-		1		-		5		-		-		-		-		-		-
Other		-		-		-		-		-		1		-		-		-		-		-		-
Net periodic benefit cost	$	8	$	122	$	254	$	50	$	54	$	72	$	2	$	2	$	3	$	5	$	4	$	3
Total recognized in Accumulated other comprehensive income (loss)	$	143	$	(793)	$	823	$	38	$	(40)	$	103	$	12	$	(21)	$	30	$	(9)	$	(11)	$	16
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	135	$	(915)	$	569	$	(12)	$	(94)	$	31	$	10	$	(23)	$	27	$	(14)	$	(15)	$	13

Schedule of weighted average assumptions used to determine the benefit obligations

	Pension						Postretirement
	U.S. Plans			Non-U.S. Plans^(a)			U.S. Plans		Non-U.S. Plans^(a)
December 31, 2015
Discount rate	4.32	%			2.17	%	4.21	%		4.09	%
Rate of compensation increase	N/A	%	^(b)		2.64	%	N/A			3.43	%
December 31, 2014
Discount rate	3.94	%			2.33	%	3.78	%		4.04	%
Rate of compensation increase	3.40	%			2.89	%	N/A			3.29	%

(a) The non-U.S. plans reflect those assumptions that were most appropriate for the local economic environments of each of the subsidiaries providing such benefits.

(b) Compensation increases are no longer applicable due to the plan freeze that became effective 1/1/2016.

Schedule of weighted average assumptions used to determine the net periodic benefit costs

	Pension					Postretirement
At December 31,	U.S. Plans		Non-U.S. Plans^*			U.S. Plans		Non-U.S. Plans^*
2015
Discount rate	3.94	%		2.33	%	3.77	%		4.04	%
Rate of compensation increase	3.40	%		2.89	%	N/A			3.29	%
Expected return on assets	7.25	%		3.33	%	N/A			N/A
2014
Discount rate	4.83	%		2.77	%	4.59	%		4.77	%
Rate of compensation increase	3.50	%		2.89	%	N/A			3.34	%
Expected return on assets	7.25	%		2.93	%	N/A			N/A
2013
Discount rate	3.93	%		2.62	%	3.67	%		3.45	%
Rate of compensation increase	4.00	%		2.86	%	N/A			3.55	%
Expected return on assets	7.25	%		2.60	%	N/A			N/A

* The non-U.S. plans reflect those assumptions that were most appropriate for the local economic environments of the subsidiaries providing such benefits.

Schedule of plan assets based on the level within the fair value hierarchy in which the fair value measurement falls

	U.S. Plans								Non-U.S. Plans
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
At December 31, 2015
Assets:
Cash and cash equivalents	$	239	$	-	$	-	$	239	$	49	$	-	$	-	$	49
Equity securities:
U.S.^(a)		924		388		-		1,312		35		-		-		35
International^(b)		262		1		-		263		248		67		-		315
Fixed maturity securities:
U.S. investment grade^(c)		-		1,452		9		1,461		-		-		-		-
International investment grade^(c)		-		-		-		-		-		190		-		190
U.S. and international high yield^(d)		-		322		-		322		-		66		-		66
Mortgage and other asset-backed
securities^(e)		-		7		-		7		-		-		-		-
Other fixed maturity securities		-		-		-		-		-		12		-		12
Other investment types:
Hedge funds^(f)		-		469		31		500		-		-		-		-
Futures		2		-		-		2		-		-		-		-
Real Estate		-		-		-		-		11		-		-		11
Private equity^(g)		-		-		230		230		-		-		-		-
Insurance contracts		-		23		-		23		-		-		95		95
Total	$	1,427	$	2,662	$	270	$	4,359	$	343	$	335	$	95	$	773
At December 31, 2014
Assets:
Cash and cash equivalents	$	80	$	-	$	-	$	80	$	50	$	-	$	-	$	50
Equity securities:
U.S.^(a)		1,244		239		-		1,483		30		-		-		30
International^(b)		787		1		-		788		274		48		-		322
Fixed maturity securities:
U.S. investment grade^(c)		-		768		8		776		-		-		-		-
International investment grade^(c)		-		-		-		-		2		160		-		162
U.S. and international high yield^(d)		-		347		-		347		-		61		-		61
Mortgage and other asset-backed
securities^(e)		-		6		-		6		-		-		-		-
Other fixed maturity securities		-		-		-		-		-		10		17		27
Other investment types:
Hedge funds^(f)		-		337		36		373		-		-		-		-
Futures		4		-		-		4		-		-		-		-
Private equity^(g)		-		-		228		228		-		-		-		-
Insurance contracts		-		26		-		26		-		-		56		56
Total	$	2,115	$	1,724	$	272	$	4,111	$	356	$	279	$	73	$	708

(a) Includes index funds that primarily track several indices including S&P 500 and S&P Small Cap 600 as well as other actively managed accounts composed of investments in large cap companies.

(b) Includes investments in companies in emerging and developed markets.

(c) Represents investments in U.S. and non-U.S. government issued bonds, U.S. government agency or sponsored agency bonds, and investment grade corporate bonds.

(d) Consists primarily of investments in securities or debt obligations that have a rating below investment grade.

(e) Comprised primarily of investments in U.S. government agency or U.S. government sponsored agency bonds.

(f) Includes funds composed of macro, event driven, long/short equity, and controlled risk hedge fund strategies and a separately managed controlled risk strategy.

(g) Includes funds that are diverse by geography, investment strategy, sector and vintage year.

Schedule of changes in Level 3 plan assets measured at fair value

																				Changes in
				Net																Unrealized Gains
		Balance		Realized and														Balance		(Losses) on
At December 31, 2015		Beginning		Unrealized										Transfers		Transfers		at End		Instruments Held
(in millions)		of year		Gains (Losses)		Purchases		Sales		Issuances		Settlements		In		Out		of year		at End of year
U.S. Plan Assets:
Fixed maturity securities
U.S. investment grade	$	8	$	(1)	$	17	$	(15)	$	-	$	-	$	-	$	-	$	9	$	(1)
Hedge funds		36		1		11		(10)		-		-		8		(15)		31		(1)
Private equity		228		(1)		86		(83)		-		-		-		-		230		5
Total	$	272	$	(1)	$	114	$	(108)	$	-	$	-	$	8	$	(15)	$	270	$	3
Non-U.S. Plan Assets:
Other fixed maturity securities	$	17	$	(1)	$	-	$	-	$	-	$	-	$	-	$	(16)	$	-	$	-
Insurance contracts		56		(7)		1		-		-		-		53		(8)		95		-
Total	$	73	$	(8)	$	1	$	-	$	-	$	-	$	53	$	(24)	$	95	$	-

																				Changes in
				Net																Unrealized Gains
		Balance		Realized and														Balance		(Losses) on
At December 31, 2014		Beginning		Unrealized										Transfers		Transfers		at End		Instruments Held
(in millions)		of year		Gains (Losses)		Purchases		Sales		Issuances		Settlements		In		Out		of year		at End of year
U.S. Plan Assets:
Fixed maturity securities
U.S. investment grade	$	9	$	2	$	18	$	(21)	$	-	$	-	$	-	$	-	$	8	$	1
Hedge funds		35		3		15		(32)		-		-		15		-		36		(1)
Private equity		248		11		73		(104)		-		-		-		-		228		10
Total	$	292	$	16	$	106	$	(157)	$	-	$	-	$	15	$	-	$	272	$	10
Non-U.S. Plan Assets:
Other fixed maturity securities	$	19	$	-	$	-	$	(2)	$	-	$	-	$	-	$	-	$	17	$	-
Insurance contracts		44		9		3		-		-		-		-		-		56		-
Total	$	63	$	9	$	3	$	(2)	$	-	$	-	$	-	$	-	$	73	$	-

Schedule of expected future benefit payments, net of participants' contributions

		Pension			Postretirement
		U.S.		Non-U.S.		U.S.		Non-U.S.
(in millions)		Plans		Plans		Plans		Plans
2016	$	759	$	36	$	14	$	1
2017		310		38		15		1
2018		323		40		15		2
2019		319		46		15		2
2020		313		45		16		2
2021-2025		1,487		282		83		12

Pensions

Defined Benefit Plan Disclosure [Line Items]

Schedule of accumulated benefit obligations

At December 31,
(in millions)		2015		2014
U.S. pension benefit plans	$	5,324	$	5,601
Non-U.S. pension benefit plans	$	1,109	$	1,040

Schedule of projected benefit obligation in excess of the plan assets and the accumulated benefit obligation in excess of the plan assets

At December 31,	PBO Exceeds Fair Value of Plan Assets								ABO Exceeds Fair Value of Plan Assets
		U.S. Plans				Non-U.S. Plans				U.S. Plans				Non-U.S. Plans
(in millions)		2015		2014		2015		2014		2015		2014		2015		2014
Projected benefit obligation	$	5,324	$	5,769	$	999	$	843	$	5,324	$	5,769	$	912	$	757
Accumulated benefit obligation		5,324		5,601		896		746		5,324		5,601		889		740
Fair value of plan assets		4,359		4,111		506		342		4,359		4,111		497		329

U.S. Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of asset allocation percentage by major asset class and target allocation

	Target		Actual		Actual
At December 31,	2016		2015		2014
Asset class:
Equity securities	35	%	35	%	55	%
Fixed maturity securities	45	%	41	%	28	%
Other investments	20	%	24	%	17	%
Total	100	%	100	%	100	%

Non U.S. Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of asset allocation percentage by major asset class and target allocation

	Target		Actual		Actual
At December 31,	2016		2015		2014
Asset class:
Equity securities	32	%	45	%	50	%
Fixed maturity securities	48	%	35	%	35	%
Other investments	18	%	13	%	8	%
Cash and cash equivalents	2	%	7	%	7	%
Total	100	%	100	%	100	%

Postretirement Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of A one percent point change in the assumed healthcare cost trend rate

		One Percent				One Percent
At December 31,		Increase				Decrease
(in millions)		2015		2014		2015		2014
U.S. plans	$	6	$	5	$	(4)	$	(5)
Non-U.S. plans	$	17	$	12	$	(12)	$	(12)

U.S. Postretirement Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of assumed health care cost trend rates

At December 31,	2015	2014
Following year:
Medical (before age 65)	6.79%	7.07%
Medical (age 65 and older)	6.64%	6.75%
Ultimate rate to which cost increase is assumed to decline	4.50%	4.50%
Year in which the ultimate trend rate is reached:
Medical (before age 65)	2027	2027
Medical (age 65 and older)	2027	2027

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

INCOME TAXES

Schedule of income (loss) from continuing operations before income tax expense (benefit) by U.S. and foreign location

Years Ended December 31,
(in millions)		2015		2014		2013
U.S.	$	1,950	$	8,250	$	8,058
Foreign		1,331		2,251		1,310
Total	$	3,281	$	10,501	$	9,368

Schedule of income tax expense (benefit) attributable to pre-tax income (loss) from continuing operations

Years Ended December 31,
(in millions)		2015		2014		2013
Foreign and U.S. components of actual income tax expense:
Foreign:
Current	$	391	$	473	$	549
Deferred		(95)		154		(442)
U.S.:
Current		429		115		131
Deferred		334		2,185		122
Total	$	1,059	$	2,927	$	360

Schedule of reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate

	2015						2014							2013
		Pre-Tax		Tax	Percent of			Pre-Tax		Tax		Percent of					Tax	Percent of
Years Ended December 31,		Income		Expense/	Pre-Tax			Income		Expense/		Pre-Tax			Pre-Tax		Expense/	Pre-Tax
(dollars in millions)		(Loss)		(Benefit)	Income (Loss)			(Loss)		(Benefit)	Income (Loss)				Income		(Benefit)	Income
U.S. federal income tax at statutory rate	$	3,281	$	1,148	35.0	%	$	10,524	$	3,683		35.0	%	$	9,518	$	3,331	35.0	%
Adjustments:
Tax exempt interest				(195)	(5.9)					(236)		(2.2)					(298)	(3.1)
Uncertain tax positions				195	5.9					(81)		(0.8)					632	6.6
Reclassifications from accumulated
other comprehensive income				(127)	(3.9)					(61)		(0.6)					-	-
Non-deductible transfer pricing
charges				97	3.0					86		0.8					-	-
Dividends received deduction				(72)	(2.2)					(62)		(0.6)					(75)	(0.8)
Effect of foreign operations				(58)	(1.8)					(68)		(0.6)					(5)	(0.1)
State income taxes				34	1.0					39		0.4					(21)	(0.2)
Other				(73)	(2.2)					(184)		(1.7)					13	0.1
Effect of discontinued operations				-	-					65		0.6					14	0.1
Valuation allowance:
Continuing operations				110	3.4					(181)		(1.7)					(3,165)	(33.3)
Consolidated total amounts		3,281		1,059	32.3			10,524		3,000		28.5			9,518		426	4.5
Amounts attributable to discontinued
operations		-		-	-			23		73		317.4			150		66	44.3
Amounts attributable to continuing
operations	$	3,281	$	1,059	32.3	%	$	10,501	$	2,927		27.9	%	$	9,368	$	360	3.8	%

Schedule of components of the net deferred tax asset

December 31,
(in millions)		2015		2014
Deferred tax assets:
Losses and tax credit carryforwards	$	18,680	$	18,203
Basis differences on investments		4,886		4,114
Life policy reserves		353		629
Accruals not currently deductible, and other		1,003		1,804
Loss reserve discount		1,021		1,378
Loan loss and other reserves		8		152
Unearned premium reserve reduction		1,603		1,269
Flight equipment, fixed assets and intangible assets		129		28
Other		577		220
Employee benefits		1,286		1,543
Total deferred tax assets		29,546		29,340
Deferred tax liabilities:
Investments in foreign subsidiaries		(33)		(58)
Deferred policy acquisition costs		(3,467)		(3,003)
Unrealized gains related to available for sale debt securities		(3,077)		(5,795)
Total deferred tax liabilities		(6,577)		(8,856)
Net deferred tax assets before valuation allowance		22,969		20,484
Valuation allowance		(3,012)		(1,739)
Net deferred tax assets (liabilities)	$	19,957	$	18,745

Schedule of consolidated income tax group credits carryforwards

December 31, 2015				Tax	Expiration
(in millions)		Gross		Effected	Periods
Net operating loss carryforwards	$	34,883	$	12,209	2028 - 2035
Foreign tax credit carryforwards				6,853	2016 - 2024
Other carryforwards				538	Various
Total AIG U.S. consolidated income tax group tax losses and credits
carryforwards on a tax return basis				19,600
Unrecognized tax benefit				(2,523)
Total AIG U.S. consolidated income tax group tax losses and credits
carryforwards on a U.S. GAAP basis^*			$	17,077

* Includes other carryforwards, e.g. general business credits, of $326 million on a U.S. GAAP basis.

Schedule of consolidated income tax group tax losses carryforwards

December 31, 2015				Tax	Expiration
(in millions)		Gross		Effected	Periods
Net operating loss carryforwards	$	34,883	$	12,209	2028 - 2035
Foreign tax credit carryforwards				6,853	2016 - 2024
Other carryforwards				538	Various
Total AIG U.S. consolidated income tax group tax losses and credits
carryforwards on a tax return basis				19,600
Unrecognized tax benefit				(2,523)
Total AIG U.S. consolidated income tax group tax losses and credits
carryforwards on a U.S. GAAP basis^*			$	17,077

* Includes other carryforwards, e.g. general business credits, of $326 million on a U.S. GAAP basis.

Schedule of net deferred tax assets (liabilities)

December 31,
(in millions)		2015		2014
Net U.S. consolidated return group deferred tax assets	$	24,134	$	24,543
Net deferred tax assets (liabilities) in accumulated other comprehensive income		(2,806)		(5,510)
Valuation allowance		(1,281)		(129)
Subtotal		20,047		18,904
Net foreign, state and local deferred tax assets		2,078		2,045
Valuation allowance		(1,731)		(1,610)
Subtotal		347		435
Subtotal - Net U.S, foreign, state and local deferred tax assets		20,394		19,339
Net foreign, state and local deferred tax liabilities		(437)		(594)
Total AIG net deferred tax assets (liabilities)	$	19,957	$	18,745

Schedule of reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits

Years Ended December 31,
(in millions)		2015		2014		2013
Gross unrecognized tax benefits, beginning of year	$	4,395	$	4,340	$	4,385
Increases in tax positions for prior years		162		91		680
Decreases in tax positions for prior years		(209)		(60)		(796)
Increases in tax positions for current year		-		10		43
Lapse in statute of limitations		(4)		(6)		(20)
Settlements		(13)		-		(2)
Activity of discontinued operations		-		20		50
Gross unrecognized tax benefits, end of year	$	4,331	$	4,395	$	4,340

Schedule of tax years that remain subject to examination by major tax jurisdictions

At December 31, 2015	Open Tax Years
Major Tax Jurisdiction
United States	2000-2014
Australia	2011-2014
France	2013-2014
Japan	2009-2014
Korea	2010-2014
Singapore	2011-2014
United Kingdom	2013-2014

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2015

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

Consolidated Statements of Income (Loss)

	Three Months Ended
		March 31,				June 30,				September 30,				December 31,
(dollars in millions, except per share data)		2015		2014		2015		2014		2015		2014		2015		2014
Total revenues	$	15,975	$	16,163	$	15,699	$	16,136	$	12,822	$	16,697	$	13,831	$	15,410
Income (loss) from continuing
operations before income taxes^*		3,776		2,273		2,552		4,480		(115)		3,019		(2,932)		729
Income (loss) from discontinued
operations, net of income taxes		1		(47)		16		30		(17)		2		-		(35)
Net income (loss)		2,477		1,612		1,791		3,036		(197)		2,201		(1,849)		675
Net income (loss) from
continuing operations attributable
to noncontrolling interests		9		3		(9)		(37)		34		9		(8)		20
Net income (loss) attributable to AIG^*	$	2,468	$	1,609	$	1,800	$	3,073	$	(231)	$	2,192	$	(1,841)	$	655
Earnings (loss) per common share
attributable to AIG common
shareholders:
Basic:
Income (loss) from continuing
operations	$	1.81	$	1.13	$	1.34	$	2.11	$	(0.17)	$	1.54	$	(1.50)	$	0.50
Income (loss) from discontinued
operations	$	-	$	(0.03)	$	0.01	$	0.02	$	(0.01)	$	-	$	-	$	(0.03)
Diluted:
Income (loss) from continuing
operations	$	1.78	$	1.12	$	1.31	$	2.08	$	(0.17)	$	1.52	$	(1.50)	$	0.49
Income (loss) from discontinued
operations	$	-	$	(0.03)	$	0.01	$	0.02	$	(0.01)	$	-	$	-	$	(0.03)
Weighted average shares outstanding:
Basic	1,365,951,690		1,459,249,393		1,329,157,366		1,442,397,111		1,279,072,748		1,419,239,774		1,226,880,632		1,391,790,420
Diluted	1,386,263,549		1,472,510,813		1,365,390,431		1,464,676,330		1,279,072,748		1,442,067,842		1,226,880,632		1,412,162,456
Noteworthy quarterly items -
income (expense):
Other-than-temporary
impairments		(128)		(59)		(164)		(55)		(273)		(50)		(106)		(83)
Net (gain) loss on sale of
divested businesses		6		(4)		1		(2,174)		3		(18)		1		(1)
Federal and foreign valuation
allowance for deferred tax assets		93		65		(40)		75		8		21		49		20
Net gain (loss) on extinguishment of
debt		(68)		(238)		(342)		(34)		(346)		(742)		-		(1,268)
Reserve strengthening charges		24		-		317		-		191		-		3,587		-
Restructuring and other costs		-		-		-		-		274		-		222		-

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)

12 Months Ended

Dec. 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
December 31, 2015
Assets:
Short-term investments	$	4,042	$	-	$	9,637	$	(3,547)	$	10,132
Other investments^(a)		7,425		-		320,797		-		328,222
Total investments		11,467		-		330,434		(3,547)		338,354
Cash		34		116		1,479		-		1,629
Loans to subsidiaries^(b)		35,927		-		578		(36,505)		-
Investment in consolidated subsidiaries^(b)		51,151		30,239		-		(81,390)		-
Other assets, including deferred income taxes		23,398		260		135,690		(2,388)		156,960
Total assets	$	121,977	$	30,615	$	468,181	$	(123,830)	$	496,943
Liabilities:
Insurance liabilities	$	-	$	-	$	271,645	$	-	$	271,645
Long-term debt		19,876		706		8,768		-		29,350
Other liabilities, including intercompany balances^(a)		11,869		201		99,777		(6,109)		105,738
Loans from subsidiaries^(b)		574		3		35,928		(36,505)		-
Total liabilities		32,319		910		416,118		(42,614)		406,733
Total AIG shareholders’ equity		89,658		29,705		51,511		(81,216)		89,658
Non-redeemable noncontrolling interests		-		-		552		-		552
Total equity		89,658		29,705		52,063		(81,216)		90,210
Total liabilities and equity	$	121,977	$	30,615	$	468,181	$	(123,830)	$	496,943

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)		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
Year Ended December 31, 2015
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	3,954	$	1,936	$	-	$	(5,890)	$	-
Other income		88		-		58,953		(714)		58,327
Total revenues		4,042		1,936		58,953		(6,604)		58,327
Expenses:
Interest expense		1,049		58		302		(128)		1,281
Loss on extinguishment of debt		703		-		46		7		756
Other expenses		1,178		44		52,374		(587)		53,009
Total expenses		2,930		102		52,722		(708)		55,046
Income (loss) from continuing operations before income tax
expense (benefit)		1,112		1,834		6,231		(5,896)		3,281
Income tax expense (benefit)		(1,086)		(73)		2,218		-		1,059
Income (loss) from continuing operations		2,198		1,907		4,013		(5,896)		2,222
Income (loss) from discontinued operations, net of income taxes		(2)		-		2		-		-
Net income (loss)		2,196		1,907		4,015		(5,896)		2,222
Less:
Net income from continuing operations attributable to
noncontrolling interests		-		-		26		-		26
Net income (loss) attributable to AIG	$	2,196	$	1,907	$	3,989	$	(5,896)	$	2,196
Year Ended December 31, 2014
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	9,450	$	3,519	$	-	$	(12,969)	$	-
Other income		1,658		-		63,157		(409)		64,406
Total revenues		11,108		3,519		63,157		(13,378)		64,406
Expenses:
Interest expense		1,507		100		243		(132)		1,718
Loss on extinguishment of debt		2,248		-		85		(51)		2,282
Other expenses		1,546		203		48,315		(159)		49,905
Total expenses		5,301		303		48,643		(342)		53,905
Income (loss) from continuing operations before income tax
expense (benefit)		5,807		3,216		14,514		(13,036)		10,501
Income tax expense (benefit)		(1,735)		(103)		4,817		(52)		2,927
Income (loss) from continuing operations		7,542		3,319		9,697		(12,984)		7,574
Loss from discontinued operations, net of income taxes		(13)		-		(37)		-		(50)
Net income (loss)		7,529		3,319		9,660		(12,984)		7,524
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests:		-		-		(5)		-		(5)
Net income (loss) attributable to AIG	$	7,529	$	3,319	$	9,665	$	(12,984)	$	7,529

Year Ended December 31, 2013
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	7,638	$	4,075	$	-	$	(11,713)	$	-
Other income		1,487		1		67,698		(312)		68,874
Total revenues		9,125		4,076		67,698		(12,025)		68,874
Expenses:
Other interest expense		1,938		126		233		(155)		2,142
Loss on extinguishment of debt		580		-		71		-		651
Other expenses		1,520		75		55,277		(159)		56,713
Total expenses		4,038		201		55,581		(314)		59,506
Income (loss) from continuing operations before income tax
expense (benefit)		5,087		3,875		12,117		(11,711)		9,368
Income tax expense (benefit)		(4,012)		(58)		4,454		(24)		360
Income (loss) from continuing operations		9,099		3,933		7,663		(11,687)		9,008
Income (loss) from discontinued operations, net of income taxes		(14)		-		98		-		84
Net income (loss)		9,085		3,933		7,761		(11,687)		9,092
Less:
Net income from continuing operations attributable to
noncontrolling interests		-		-		7		-		7
Net income (loss) attributable to AIG	$	9,085	$	3,933	$	7,754	$	(11,687)	$	9,085

* 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
Year Ended December 31, 2015
Net income (loss)	$	2,196	$	1,907	$	4,015	$	(5,896)	$	2,222
Other comprehensive income (loss)		(8,080)		2,320		54,757		(57,083)		(8,086)
Comprehensive income (loss)		(5,884)		4,227		58,772		(62,979)		(5,864)
Total comprehensive income attributable to noncontrolling interests		-		-		20		-		20
Comprehensive income (loss) attributable to AIG	$	(5,884)	$	4,227	$	58,752	$	(62,979)	$	(5,884)
Year Ended December 31, 2014
Net income (loss)	$	7,529	$	3,319	$	9,660	$	(12,984)	$	7,524
Other comprehensive income (loss)		4,257		2,794		3,235		(6,029)		4,257
Comprehensive income (loss)		11,786		6,113		12,895		(19,013)		11,781
Total comprehensive loss attributable to noncontrolling interests		-		-		(5)		-		(5)
Comprehensive income (loss) attributable to AIG	$	11,786	$	6,113	$	12,900	$	(19,013)	$	11,786
Year Ended December 31, 2013
Net income (loss)	$	9,085	$	3,933	$	7,761	$	(11,687)	$	9,092
Other comprehensive income (loss)		(6,214)		(4,689)		(6,719)		11,385		(6,237)
Comprehensive income (loss)		2,871		(756)		1,042		(302)		2,855
Total comprehensive loss attributable to noncontrolling interests		-		-		(16)		-		(16)
Comprehensive income (loss) attributable to AIG	$	2,871	$	(756)	$	1,058	$	(302)	$	2,871

Condensed Consolidating Statements of Cash Flows

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries^*		Eliminations^*		AIG
Year Ended December 31, 2015
Net cash (used in) provided by operating activities	$	4,443	$	2,314	$	1,112	$	(4,992)	$	2,877
Cash flows from investing activities:
Sales of investments		7,767		-		69,726		(4,877)		72,616
Purchase of investments		(1,881)		-		(68,261)		4,877		(65,265)
Loans to subsidiaries – net		(83)		-		367		(284)		-
Contributions to subsidiaries		565		-		-		(565)		-
Net change in restricted cash		-		-		1,457		-		1,457
Net change in short-term investments		2,300		-		(1,137)		-		1,163
Other, net		(175)		-		(1,334)		-		(1,509)
Net cash provided by investing activities		8,493		-		818		(849)		8,462
Cash flows from financing activities:
Issuance of long-term debt		5,540		-		1,327		-		6,867
Repayments of long-term debt		(6,504)		(114)		(3,187)		-		(9,805)
Purchase of Common Stock		(10,691)		-		-		-		(10,691)
Intercompany loans - net		(201)		3		(86)		284		-
Cash dividends paid		(1,028)		(2,178)		(2,814)		4,992		(1,028)
Other, net		(44)		-		2,707		565		3,228
Net cash (used in) financing activities		(12,928)		(2,289)		(2,053)		5,841		(11,429)
Effect of exchange rate changes on cash		-		-		(39)		-		(39)
Change in cash		8		25		(162)		-		(129)
Cash at beginning of year		26		91		1,641		-		1,758
Change in cash of businesses held for sale		-		-		-		-		-
Cash at end of year	$	34	$	116	$	1,479	$	-	$	1,629

Year Ended December 31, 2014
Net cash (used in) provided by operating activities	$	9,316	$	6,155	$	8,979	$	(19,443)	$	5,007
Cash flows from investing activities:
Sales of investments		3,036		-		65,108		(2,040)		66,104
Purchase of investments		(1,051)		-		(59,099)		2,040		(58,110)
Loans to subsidiaries – net		446		-		169		(615)		-
Contributions to subsidiaries		(148)		-		296		(148)		-
Net change in restricted cash		(501)		-		(946)		-		(1,447)
Net change in short-term investments		5,792		-		2,968		-		8,760
Other, net		(141)		-		(882)		-		(1,023)
Net cash (used in) provided by investing activities		7,433		-		7,614		(763)		14,284
Cash flows from financing activities:
Issuance of long-term debt		3,247		-		3,440		-		6,687
Repayments of long-term debt		(14,468)		(477)		(1,215)		-		(16,160)
Intercompany loans - net		110		(280)		(445)		615		-
Purchase of common stock		(4,902)		-		-		-		(4,902)
Cash dividends paid to shareholders		(712)		(5,358)		(14,085)		19,443		(712)
Other, net		(28)		-		(4,821)		148		(4,701)
Net cash (used in) provided by financing activities		(16,753)		(6,115)		(17,126)		20,206		(19,788)
Effect of exchange rate changes on cash		-		-		(74)		-		(74)
Change in cash		(4)		40		(607)		-		(571)
Cash at beginning of year		30		51		2,160		-		2,241
Reclassification to assets held for sale		-		-		88		-		88
Cash at end of year	$	26	$	91	$	1,641	$	-	$	1,758

Year Ended December 31, 2013
Net cash (used in) provided by operating activities	$	6,422	$	4,488	$	7,385	$	(12,430)	$	5,865
Cash flows from investing activities:
Sales of investments		1,425		-		78,868		(3,199)		77,094
Purchase of investments		(5,506)		-		(75,580)		3,199		(77,887)
Loans to subsidiaries – net		3,660		-		395		(4,055)		-
Contributions to subsidiaries		(2,081)		(1)		-		2,082		-
Net change in restricted cash		493		-		751		-		1,244
Net change in short-term investments		2,361		-		5,481		-		7,842
Other, net		130		-		(1,324)		-		(1,194)
Net cash (used in) provided by investing activities		482		(1)		8,591		(1,973)		7,099
Cash flows from financing activities:
Issuance of long-term debt		2,015		-		3,220		-		5,235
Repayments of long-term debt		(7,439)		(245)		(6,513)		-		(14,197)
Intercompany loans - net		(123)		(273)		(3,659)		4,055		-
Purchase of common stock		(597)		-		-		-		(597)
Cash dividends paid to shareholders		(294)		(3,991)		(8,439)		12,430		(294)
Other, net		(517)		-		694		(2,082)		(1,905)
Net cash (used in) provided by financing activities		(6,955)		(4,509)		(14,697)		14,403		(11,758)
Effect of exchange rate changes on cash		-		-		(92)		-		(92)
Change in cash		(51)		(22)		1,187		-		1,114
Cash at beginning of year		81		73		997		-		1,151
Change in cash of businesses held for sale		-		-		(24)		-		(24)
Cash at end of year	$	30	$	51	$	2,160	$	-	$	2,241

* The Other Subsidiaries and Reclassifications and Eliminations amounts were disclosed together in prior periods. The new presentation had no impact on the Consolidated AIG amounts.

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 year ended December 31, 2015 for:
Interest:
Third party	$	(1,030)	$	(59)	$	(279)	$	-	$	(1,368)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(11)	$	-	$	(500)	$	-	$	(511)
Intercompany		829		-		(829)		-		-
Cash (paid) received during the year ended December 31, 2014 for:
Interest:
Third party	$	(1,624)	$	(87)	$	(1,656)	$	-	$	(3,367)
Intercompany		5		(7)		2		-		-
Taxes:
Income tax authorities	$	(18)	$	-	$	(719)	$	-	$	(737)
Intercompany		1,172		-		(1,172)		-		-
Cash (paid) received during the year ended December 31, 2013 for:
Interest:
Third party^*	$	(1,963)	$	(111)	$	(1,782)	$	-	$	(3,856)
Intercompany		(12)		(21)		33		-		-
Taxes:
Income tax authorities	$	(161)	$	-	$	(635)	$	-	$	(796)
Intercompany		288		(78)		(210)		-		-

* The Other Subsidiaries and Reclassifications and Eliminations amounts were disclosed together in prior periods. The new presentation had no impact on the Consolidated AIG amounts.

Supplementary disclosure of non-cash activities

Years Ended December 31,
(in millions)		2015		2014		2013
Intercompany non-cash financing and investing activities:
Capital contributions to subsidiaries through forgiveness of loans	$	-	$	-	$	341
Dividends received in the form of securities		2,326		3,088		-
Other capital contributions - net		494		2,457		523
Return of capital^*		-		4,836		-
Non-cash financing/investing activities:
Consideration received from sale of shares of AerCap		500		-		-

* Includes $4.8 billion return of capital from AIG Capital Corporation related to the sale of ILFC.

BASIS OF PRESENTATION (Details) $ / shares in Units, shares in Millions, $ in Millions		1 Months Ended		3 Months Ended								12 Months Ended
	May. 14, 2014 USD ($) shares	Aug. 31, 2015 USD ($) shares	Jun. 30, 2015 USD ($) shares	Dec. 31, 2015 USD ($) item $ / shares	Sep. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($) $ / shares	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2015 USD ($) item $ / shares	Dec. 31, 2014 USD ($) $ / shares	Dec. 31, 2013 USD ($) $ / shares	May. 13, 2014 $ / shares
Basis of Presentation [Line Items]
Common stock, par value (in dollars per share) \| $ / shares				$ 2.5				$ 2.5				$ 2.5	$ 2.5
Closing price per share (in dollars per share) \| $ / shares				$ 61.97				$ 56.01				$ 61.97	$ 56.01	$ 51.05
Investment Maturity Year			2045
Interest rate (as a percent)			6.50%			6.50%
Net income (loss) attributable to AIG				$ (1,841.0)	$ (231.0)	$ 1,800.0	$ 2,468.0	$ 655.0	$ 2,192.0	$ 3,073.0	$ 1,609.0	$ 2,196.0	$ 7,529.0	$ 9,085.0
Income (loss) from continuing operations before income tax expense (benefit)				(2,932.0)	(115.0)	2,552.0	3,776.0	729.0	3,019.0	4,480.0	2,273.0	3,281.0	10,501.0	9,368.0
Adjustment
Basis of Presentation [Line Items]
Net income (loss) attributable to AIG				(193.0)	$ (36.0)	$ 15.0	$ (16.0)	$ 25.0	$ (61.0)	$ 13.0	$ (28.0)	(156.0)	$ (51.0)	$ 78.0
Income (loss) from continuing operations before income tax expense (benefit)				(308.0)								(376.0)
Operating Income Loss				$ (122.0)								$ (235.0)
Call Option [Member]
Basis of Presentation [Line Items]
Investment Maturity Year			2025
Minimum
Basis of Presentation [Line Items]
Number of Countries in which the entity operates \| item				100								100
ILFC
Basis of Presentation [Line Items]
Consideration in cash	$ 7.6
Aer Cap
Basis of Presentation [Line Items]
Closing price per share (in dollars per share) \| $ / shares															$ 47.01
Number of shares received \| shares	97.6
Equity Method Investment Number Of Shares Sold \| shares			86.9
Cash Proceeds from Sales of AerCap		$ 500.0	$ 3,700.0
Ordinary shares of AerCap remaining \| shares		10.7
Aer Cap \| Private Placement [Member]
Basis of Presentation [Line Items]
Equity Method Investment Number Of Shares Sold \| shares			15.7
Cash Proceeds from Sales of AerCap			$ 250.0
Aer Cap \| Underwritten Public Offering [Member]
Basis of Presentation [Line Items]
Equity Method Investment Number Of Shares Sold \| shares			71.2
Cash Proceeds from Sales of AerCap			$ 3,400.0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Other significant accounting policies) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary of Significant Accounting Policies [Line Items]
Earning pattern of a quota share reinsurance contract	24 months
Other income
Proceeds from legal settlements	$ 94	$ 804	$ 1,200
Premiums and other receivables
Allowance for doubtful accounts on premiums and other receivables	$ 333	$ 428	$ 554

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Other Assets and PPE) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other assets
Deferred bonus interest and deferred sales inducement assets	$ 845	$ 629
Amortization expense associated with deferred bonus interest and deferred sales inducement assets	$ 88	$ 63	$ 102
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years
Furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Software Development \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

SEGMENT INFORMATION (Details - Continuing operations by reportable segment) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total Revenues	$ 13,831	$ 12,822	$ 15,699	$ 15,975	$ 15,410	$ 16,697	$ 16,136	$ 16,163	$ 58,327	$ 64,406	$ 68,874
Net investment income									14,053	16,079	15,810
Interest Expense									1,281	1,718	2,142
Depreciation and Amortization									4,629	4,448	4,713
Revenues and pre-tax income	$ (2,932)	$ (115)	$ 2,552	$ 3,776	$ 729	$ 3,019	$ 4,480	$ 2,273	3,281	10,501	9,368
Operating segments \| Commercial Insurance
Segment Reporting Information [Line Items]
Total Revenues									28,194	28,801	28,862
Net investment income									5,474	6,393	6,653
Interest Expense									23	7	9
Depreciation and Amortization									2,142	2,286	2,283
Revenues and pre-tax income									1,652	5,510	4,980
Operating segments \| Consumer Insurance
Segment Reporting Information [Line Items]
Total Revenues									27,069	28,469	28,660
Net investment income									8,322	9,082	9,352
Interest Expense									54	32	10
Depreciation and Amortization									2,051	1,966	2,159
Revenues and pre-tax income									3,378	4,474	4,564
Reportable Segments \| Property Casualty \| Commercial Insurance
Segment Reporting Information [Line Items]
Total Revenues									23,625	25,183	25,108
Net investment income									3,596	4,298	4,431
Interest Expense									12	0	8
Depreciation and Amortization									2,255	2,445	2,393
Revenues and pre-tax income									593	4,248	4,095
Reportable Segments \| Institutional Markets \| Commercial Insurance
Segment Reporting Information [Line Items]
Total Revenues									3,518	2,576	2,813
Net investment income									1,739	1,957	2,090
Interest Expense									11	7	1
Depreciation and Amortization									(177)	(215)	(160)
Revenues and pre-tax income									415	670	680
Reportable Segments \| Mortgage Guaranty \| Commercial Insurance
Segment Reporting Information [Line Items]
Total Revenues									1,051	1,042	941
Net investment income									139	138	132
Interest Expense									0	0	0
Depreciation and Amortization									64	56	50
Revenues and pre-tax income									644	592	205
Reportable Segments \| Retirement \| Consumer Insurance
Segment Reporting Information [Line Items]
Total Revenues									9,298	9,784	9,431
Net investment income									6,002	6,489	6,628
Interest Expense									39	23	3
Depreciation and Amortization									(98)	(231)	(165)
Revenues and pre-tax income									2,839	3,495	3,490
Reportable Segments \| Life \| Consumer Insurance
Segment Reporting Information [Line Items]
Total Revenues									6,393	6,321	6,397
Net investment income									2,100	2,199	2,269
Interest Expense									14	7	4
Depreciation and Amortization									205	130	214
Revenues and pre-tax income									465	580	806
Reportable Segments \| Personal Insurance \| Consumer Insurance
Segment Reporting Information [Line Items]
Total Revenues									11,378	12,364	12,832
Net investment income									220	394	455
Interest Expense									1	2	3
Depreciation and Amortization									1,944	2,067	2,110
Revenues and pre-tax income									74	399	268
Corporate and Other
Segment Reporting Information [Line Items]
Total Revenues									2,901	4,206	4,073
Net investment income									617	700	309
Interest Expense									1,313	1,805	2,451
Depreciation and Amortization									426	346	221
Revenues and pre-tax income									(883)	(379)	(265)
Consolidation and Eliminations
Segment Reporting Information [Line Items]
Total Revenues									(573)	(475)	(71)
Net investment income									(317)	(356)	(343)
Interest Expense									(109)	(126)	(328)
Depreciation and Amortization									10	(181)	(26)
Revenues and pre-tax income									(92)	(31)	111
Total Operating Segments Corporate And Other Eliminations [Member]
Segment Reporting Information [Line Items]
Total Revenues									57,591	61,001	61,524
Net investment income									14,096	15,819	15,971
Interest Expense									1,281	1,718	2,142
Depreciation and Amortization									4,629	4,417	4,637
Revenues and pre-tax income									$ 4,055	$ 9,574	$ 9,390

SEGMENT INFORMATION (Details - Continuing operations by reportable segment - Pretax operating income to pre-tax income)) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Loss on extinguishment of debt	$ 0	$ (346)	$ (342)	$ (68)	$ (1,268)	$ (742)	$ (34)	$ (238)	$ (756)	$ (2,282)	$ (651)
Restructuring and other costs	222	274
Revenues and pre-tax income	$ (2,932)	$ (115)	$ 2,552	$ 3,776	$ 729	$ 3,019	$ 4,480	$ 2,273	3,281	10,501	9,368
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income \| Revenue
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense									(43)	260	(161)
Increase Decrease Benefit Reserves									0	0	0
Other income (expense) - net									0	0	0
Loss on extinguishment of debt									0	0	0
Net realized capital gains (losses)									776	739	1,939
Net gain (loss) on sale of divested businesses									(48)	1,602	4,420
Non-operating litigation reserves and settlements									94	804	1,152
Reserve development related to non-operating run-off insurance business									0	0	0
Restructuring and other costs									0	0	0
Other									(43)	0	0
Revenues and pre-tax income									58,327	64,406	68,874
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income \| Net investment income
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense									(43)	260	(161)
Increase Decrease Benefit Reserves									0	0	0
Other income (expense) - net									0	0	0
Loss on extinguishment of debt									0	0	0
Net realized capital gains (losses)									0	0	0
Net gain (loss) on sale of divested businesses									0	0	0
Non-operating litigation reserves and settlements									0	0	0
Reserve development related to non-operating run-off insurance business									0	0	0
Restructuring and other costs									0	0	0
Other									0	0	0
Revenues and pre-tax income									14,053	16,079	15,810
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income \| Interest expense
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense									0	0	0
Increase Decrease Benefit Reserves									0	0	0
Other income (expense) - net									0	0	0
Loss on extinguishment of debt									0	0	0
Net realized capital gains (losses)									0	0	0
Net gain (loss) on sale of divested businesses									0	0	0
Non-operating litigation reserves and settlements									0	0	0
Reserve development related to non-operating run-off insurance business									0	0	0
Restructuring and other costs									0	0	0
Other									0	0	0
Revenues and pre-tax income									1,281	1,718	2,142
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income \| Pre-Tax Operating Income (loss)
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense									(43)	260	(161)
Increase Decrease Benefit Reserves									(15)	(217)	(1,608)
Other income (expense) - net									(233)	0	(72)
Loss on extinguishment of debt									(756)	(2,282)	(651)
Net realized capital gains (losses)									776	739	1,939
Net gain (loss) on sale of divested businesses									(59)	2,169	(177)
Non-operating litigation reserves and settlements									82	258	708
Reserve development related to non-operating run-off insurance business									(30)	0	0
Restructuring and other costs									(496)	0	0
Other									0	0	0
Revenues and pre-tax income									3,281	10,501	9,368
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income \| Depreciation and Amortization
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Changes in fair values of fixed maturity securities designated to hedge living benefit liabilities, net of interest expense										0	0
Increase Decrease Benefit Reserves										0	0
Other income (expense) - net										0	0
Loss on extinguishment of debt										0	0
Net realized capital gains (losses)										0	0
Net gain (loss) on sale of divested businesses										31	76
Non-operating litigation reserves and settlements										0	0
Reserve development related to non-operating run-off insurance business										0	0
Restructuring and other costs										0	0
Other										0	0
Revenues and pre-tax income									$ 4,629	$ 4,448	$ 4,713

SEGMENT INFORMATION (Details - Identifiable assets and capital expenditures by reportable segment) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Year-End Identifiable Assets	$ 496,943	$ 515,581
Capital Expenditures	1,722	1,832
Operating segments \| Non-life insurance companies
Segment Reporting Information [Line Items]
Year-End Identifiable Assets	150,368	164,299
Capital Expenditures	991	697
Operating segments \| Life insurance companies
Segment Reporting Information [Line Items]
Year-End Identifiable Assets	297,499	301,295
Capital Expenditures	102	114
Corporate and Other
Segment Reporting Information [Line Items]
Year-End Identifiable Assets	141,648	159,394
Capital Expenditures	629	1,021
Consolidation and Eliminations
Segment Reporting Information [Line Items]
Year-End Identifiable Assets	(92,572)	(109,407)
Capital Expenditures	$ 0	$ 0

SEGMENT INFORMATION (Details - Consolidated operations and long-lived assets by major geographic area) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 13,831	$ 12,822	$ 15,699	$ 15,975	$ 15,410	$ 16,697	$ 16,136	$ 16,163	$ 58,327	$ 64,406	$ 68,874
Real Estate and Other Fixed Assets, Net of Accumulated Depreciation	3,135				2,700				3,135	2,700	2,315
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues									42,366	44,274	46,078
Real Estate and Other Fixed Assets, Net of Accumulated Depreciation	2,213				1,886				2,213	1,886	1,606
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues									5,942	7,523	8,804
Real Estate and Other Fixed Assets, Net of Accumulated Depreciation	602				521				602	521	448
Other Foreign
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues									10,019	12,609	13,992
Real Estate and Other Fixed Assets, Net of Accumulated Depreciation	$ 320				$ 293				$ 320	$ 293	$ 261

FAIR VALUE MEASUREMENTS (Details - Assets and Liabilities Measured at Fair Value on a Recurring Basis) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	$ 248,245	$ 259,859
Other bond securities	16,782	19,712
Equity securities available for sale	2,915	4,395
Other equity securities	921	1,049
Other invested assets	8,912	9,394
Derivative Assets, Fair Value	4,131	4,825
Derivative assets, Counterparty netting	(1,268)	(2,102)
Derivative assets, Cash collateral	(1,554)	(1,119)
Short-term investments, portion measured at fair value	2,591	1,684
Separate account assets, at fair value	79,574	80,036
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	2,325	1,561
Other policyholder funds	4,212	4,669
Derivative Liabilities, Fair Value	4,048	5,804
Derivative liabilities, Counterparty netting	(1,268)	(2,102)
Derivative liabilities, Cash collateral	(760)	(1,429)
Long-term debt, portion measured at fair value	3,670	5,466
Other liabilities	62	350
Recurring Basis \| U.S. government and government sponsored entities
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	181	107
Recurring Basis \| Non-U.S. government
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	695	590
Recurring Basis \| Level 1
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	683	1,064
Other bond securities	0	130
Equity securities available for sale	2,914	4,389
Other equity securities	906	1,024
Mortgage and other loans receivable		0
Other invested assets	2	2
Derivative Assets, Fair Value	91	100
Short-term investments, portion measured at fair value	1,416	584
Separate account assets, at fair value	73,699	73,939
Fair value assets measured on recurring basis, total	79,711	81,232
Fair Value, Liabilities Measured on Recurring Basis
Other policyholder funds	6
Other liabilities	0	34
Fair value liabilities measured on recurring basis, total	6	34
Recurring Basis \| Level 1 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0	2
Recurring Basis \| Level 1 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	91	98
Recurring Basis \| Level 1 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		322
Other bond securities	0	130
Recurring Basis \| Level 1 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0
Other bond securities	0	0
Recurring Basis \| Level 1 \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	683	742
Other bond securities	0	0
Recurring Basis \| Level 1 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0
Other bond securities	0	0
Recurring Basis \| Level 1 \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0
Other bond securities	0	0
Recurring Basis \| Level 1 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0
Other bond securities	0	0
Recurring Basis \| Level 1 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0
Other bond securities	0	0
Recurring Basis \| Level 1 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	2,401	3,626
Recurring Basis \| Level 1 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	22	25
Recurring Basis \| Level 1 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	491	738
Recurring Basis \| Level 2
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	218,745	229,112
Other bond securities	7,936	10,659
Equity securities available for sale	1	5
Other equity securities	1	25
Mortgage and other loans receivable		0
Other invested assets	4,256	3,742
Derivative Assets, Fair Value	3,950	4,626
Short-term investments, portion measured at fair value	1,175	1,100
Separate account assets, at fair value	5,875	6,097
Other assets		0
Fair value assets measured on recurring basis, total	241,939	255,366
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	36	52
Other policyholder funds		8
Derivative Liabilities, Fair Value	3,402	4,633
Long-term debt, portion measured at fair value	3,487	5,253
Other liabilities	62	316
Fair value liabilities measured on recurring basis, total	6,987	10,262
Recurring Basis \| Level 2 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	3,150	3,729
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	2,137	3,047
Recurring Basis \| Level 2 \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	766	839
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,197	1,482
Recurring Basis \| Level 2 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	32	58
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	68	98
Recurring Basis \| Level 2 \| Commodity contracts
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0	6
Recurring Basis \| Level 2 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0
Recurring Basis \| Level 2 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1,844	2,670
Other bond securities	3,369	5,368
Recurring Basis \| Level 2 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	25,199	25,500
Other bond securities	75	122
Recurring Basis \| Level 2 \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	17,480	20,323
Other bond securities	50	2
Recurring Basis \| Level 2 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	134,618	142,550
Other bond securities	2,018	719
Recurring Basis \| Level 2 \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	19,690	20,715
Other bond securities	649	989
Recurring Basis \| Level 2 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	10,986	10,189
Other bond securities	557	708
Recurring Basis \| Level 2 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	8,928	7,165
Other bond securities	1,218	2,751
Recurring Basis \| Level 2 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0	2
Recurring Basis \| Level 2 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0	0
Recurring Basis \| Level 2 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	1	3
Recurring Basis \| Level 3
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	28,817	29,683
Other bond securities	8,846	8,923
Equity securities available for sale	0	1
Other equity securities	14
Mortgage and other loans receivable	11	6
Other invested assets	4,654	5,650
Derivative Assets, Fair Value	90	99
Fair value assets measured on recurring basis, total	42,432	44,362
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	2,289	1,509
Derivative Liabilities, Fair Value	646	1,171
Long-term debt, portion measured at fair value	183	213
Fair value liabilities measured on recurring basis, total	3,118	2,893
Recurring Basis \| Level 3 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	12	12
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	62	86
Recurring Basis \| Level 3 \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0	1
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	7	9
Recurring Basis \| Level 3 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	54	51
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0	4
Recurring Basis \| Level 3 \| Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0
Recurring Basis \| Level 3 \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	3	4
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	508	982
Recurring Basis \| Level 3 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	21	31
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	69	90
Recurring Basis \| Level 3 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0	0
Other bond securities	0	0
Recurring Basis \| Level 3 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,124	2,159
Other bond securities	0	0
Recurring Basis \| Level 3 \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	32	30
Other bond securities	0	0
Recurring Basis \| Level 3 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1,370	1,883
Other bond securities	17	0
Recurring Basis \| Level 3 \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	16,537	16,805
Other bond securities	1,581	1,105
Recurring Basis \| Level 3 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,585	2,696
Other bond securities	193	369
Recurring Basis \| Level 3 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	6,169	6,110
Other bond securities	7,055	7,449
Recurring Basis \| Level 3 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		1
Recurring Basis \| Level 3 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0
Recurring Basis \| Level 3 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0
Recurring Basis \| Counterparty Netting
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Counterparty netting	(1,268)	(2,102)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Counterparty netting	(1,268)	(2,102)
Recurring Basis \| Counterparty Netting \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Counterparty netting	(1,268)	(2,102)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Counterparty netting	(1,268)	(2,102)
Recurring Basis \| Cash Collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Cash collateral	(1,554)	(1,119)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Cash collateral	(760)	(1,429)
Recurring Basis \| Cash Collateral \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Cash collateral	(1,554)	(1,119)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Cash collateral	(760)	(1,429)
Recurring Basis \| Total Fair Value
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	248,245	259,859
Other bond securities	16,782	19,712
Equity securities available for sale	2,915	4,395
Other equity securities	921	1,049
Mortgage and other loans receivable	11	6
Other invested assets	8,912	9,394
Derivative Assets, Fair Value	1,309	1,604
Short-term investments, portion measured at fair value	2,591	1,684
Separate account assets, at fair value	79,574	80,036
Other assets		0
Fair value assets measured on recurring basis, total	361,260	377,739
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	2,325	1,561
Other policyholder funds	6	8
Derivative Liabilities, Fair Value	2,020	2,273
Long-term debt, portion measured at fair value	3,670	5,466
Other liabilities	62	350
Fair value liabilities measured on recurring basis, total	8,083	9,658
Recurring Basis \| Total Fair Value \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	3,162	3,743
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	2,199	3,133
Recurring Basis \| Total Fair Value \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	766	840
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,204	1,491
Recurring Basis \| Total Fair Value \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	177	207
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	68	102
Recurring Basis \| Total Fair Value \| Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0	6
Recurring Basis \| Total Fair Value \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	3	4
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	508	982
Recurring Basis \| Total Fair Value \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	23	31
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	69	90
Recurring Basis \| Total Fair Value \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	(2,822)	(3,221)
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	(2,028)	(3,531)
Recurring Basis \| Total Fair Value \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1,844	2,992
Other bond securities	3,369	5,498
Recurring Basis \| Total Fair Value \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	27,323	27,659
Other bond securities	75	122
Recurring Basis \| Total Fair Value \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	18,195	21,095
Other bond securities	50	2
Recurring Basis \| Total Fair Value \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	135,988	144,433
Other bond securities	2,035	719
Recurring Basis \| Total Fair Value \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	36,227	37,520
Other bond securities	2,230	2,094
Recurring Basis \| Total Fair Value \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	13,571	12,885
Other bond securities	750	1,077
Recurring Basis \| Total Fair Value \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,097	13,275
Other bond securities	8,273	10,200
Recurring Basis \| Total Fair Value \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	2,401	3,629
Recurring Basis \| Total Fair Value \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	22	25
Recurring Basis \| Total Fair Value \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	$ 492	$ 741

FAIR VALUE MEASUREMENTS (Details - Changes in Level 3 Recurring Fair Value Measurements) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	$ 44,263	$ 46,547
Net Realized and Unrealized Gains (Losses) Included in Income	2,405	2,462
Other Comprehensive Income (Loss)	(1,855)	907
Purchases, Sales, Issues and Settlements, Net	(2,345)	1,165
Gross Transfers in, assets	2,422	4,797
Gross Transfers out, assets	(2,548)	(11,615)
Balance End of Period	42,342	44,263
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(129)	298
Balance at the Beginning of the Period	(2,794)	(2,121)
Net Realized and Unrealized Gains (Losses) Included in Income	(37)	(659)
Accumulated Other Comprehensive Income (loss)		(1)
Purchases, Sales, Issues and Settlements-Net	(197)	(32)
Gross Transfers in, liabilities		(21)
Gross Transfers out, liabilities		40
Balance at the End of the Period	(3,028)	(2,794)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	249	152
Policyholder contract deposits
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(1,509)	(312)
Net Realized and Unrealized Gains (Losses) Included in Income	(315)	(1,127)
Accumulated Other Comprehensive Income (loss)	0	(54)
Purchases, Sales, Issues and Settlements-Net	(465)	(16)
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(2,289)	(1,509)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	64	(218)
Derivative liabilities, net
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(1,072)	(1,439)
Net Realized and Unrealized Gains (Losses) Included in Income	268	374
Accumulated Other Comprehensive Income (loss)		53
Purchases, Sales, Issues and Settlements-Net	248	(53)
Gross Transfers in, liabilities		49
Gross Transfers out, liabilities		(56)
Balance at the End of the Period	(556)	(1,072)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	168	355
Interest rate contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(74)	(100)
Net Realized and Unrealized Gains (Losses) Included in Income	0	(10)
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	24	39
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	(3)
Balance at the End of the Period	(50)	(74)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(1)	(10)
Foreign exchange contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(8)	0
Net Realized and Unrealized Gains (Losses) Included in Income	1	2
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	0	(10)
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(7)	(8)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	1	3
Equity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	47	49
Net Realized and Unrealized Gains (Losses) Included in Income	2	21
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	5	(18)
Gross Transfers in, liabilities	0	48
Gross Transfers out, liabilities	0	(53)
Balance at the End of the Period	54	47
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	(3)	13
Commodity contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	0	1
Net Realized and Unrealized Gains (Losses) Included in Income	0	(1)
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	0	0
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	0	0
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	0	(1)
Credit contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(978)	(1,280)
Net Realized and Unrealized Gains (Losses) Included in Income	186	263
Accumulated Other Comprehensive Income (loss)	0	0
Purchases, Sales, Issues and Settlements-Net	287	39
Gross Transfers in, liabilities	0	0
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(505)	(978)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	95	268
Other contracts
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(59)	(109)
Net Realized and Unrealized Gains (Losses) Included in Income	79	99
Accumulated Other Comprehensive Income (loss)	0	53
Purchases, Sales, Issues and Settlements-Net	(68)	(103)
Gross Transfers in, liabilities	0	1
Gross Transfers out, liabilities	0	0
Balance at the End of the Period	(48)	(59)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	76	82
Long-term debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance at the Beginning of the Period	(213)	(370)
Net Realized and Unrealized Gains (Losses) Included in Income	10	94
Accumulated Other Comprehensive Income (loss)		0
Purchases, Sales, Issues and Settlements-Net	20	37
Gross Transfers in, liabilities		(70)
Gross Transfers out, liabilities		96
Balance at the End of the Period	(183)	(213)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities	17	15
Bonds available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	29,683	30,001
Net Realized and Unrealized Gains (Losses) Included in Income	1,294	1,180
Other Comprehensive Income (Loss)	(1,066)	509
Purchases, Sales, Issues and Settlements, Net	(436)	3,092
Gross Transfers in, assets	1,522	4,181
Gross Transfers out, assets	(2,180)	(9,280)
Balance End of Period	28,817	29,683
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets		0
Bonds available for sale \| Obligations of states, municipalities and political subdivisions
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	2,159	1,080
Net Realized and Unrealized Gains (Losses) Included in Income	1	0
Other Comprehensive Income (Loss)	(85)	233
Purchases, Sales, Issues and Settlements, Net	154	914
Gross Transfers in, assets	0	119
Gross Transfers out, assets	(105)	(187)
Balance End of Period	2,124	2,159
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets		0
Bonds available for sale \| Non-U.S. government
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	30	16
Net Realized and Unrealized Gains (Losses) Included in Income	0	1
Other Comprehensive Income (Loss)	(7)	(1)
Purchases, Sales, Issues and Settlements, Net	10	9
Gross Transfers in, assets	0	8
Gross Transfers out, assets	(1)	(3)
Balance End of Period	32	30
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets		0
Bonds available for sale \| Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1,883	1,255
Net Realized and Unrealized Gains (Losses) Included in Income	15	12
Other Comprehensive Income (Loss)	(109)	19
Purchases, Sales, Issues and Settlements, Net	(210)	(257)
Gross Transfers in, assets	1,515	1,363
Gross Transfers out, assets	(1,724)	(509)
Balance End of Period	1,370	1,883
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets		0
Bonds available for sale \| Residential mortgage-backed securities (RMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	16,805	14,941
Net Realized and Unrealized Gains (Losses) Included in Income	1,052	1,012
Other Comprehensive Income (Loss)	(512)	53
Purchases, Sales, Issues and Settlements, Net	(808)	796
Gross Transfers in, assets	0	120
Gross Transfers out, assets	0	(117)
Balance End of Period	16,537	16,805
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets		0
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	2,696	5,735
Net Realized and Unrealized Gains (Losses) Included in Income	77	69
Other Comprehensive Income (Loss)	(95)	243
Purchases, Sales, Issues and Settlements, Net	118	85
Gross Transfers in, assets	0	83
Gross Transfers out, assets	(211)	(3,519)
Balance End of Period	2,585	2,696
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets		0
Bonds available for sale \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	6,110	6,974
Net Realized and Unrealized Gains (Losses) Included in Income	149	86
Other Comprehensive Income (Loss)	(258)	(38)
Purchases, Sales, Issues and Settlements, Net	300	1,545
Gross Transfers in, assets	7	2,488
Gross Transfers out, assets	(139)	(4,945)
Balance End of Period	6,169	6,110
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets		0
Other bond securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	8,923	10,615
Net Realized and Unrealized Gains (Losses) Included in Income	675	1,132
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(1,374)	(1,849)
Gross Transfers in, assets	761	446
Gross Transfers out, assets	(139)	(1,421)
Balance End of Period	8,846	8,923
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(127)	298
Other bond securities \| Corporate debt
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	0
Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	1	0
Gross Transfers in, assets	16	0
Gross Transfers out, assets	0	0
Balance End of Period	17	0
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0
Other bond securities \| Residential mortgage-backed securities (RMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1,105	937
Net Realized and Unrealized Gains (Losses) Included in Income	32	40
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	460	97
Gross Transfers in, assets	43	51
Gross Transfers out, assets	(59)	(20)
Balance End of Period	1,581	1,105
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(27)	(13)
Other bond securities \| Commercial mortgage-backed securities (CMBS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	369	844
Net Realized and Unrealized Gains (Losses) Included in Income	(3)	(6)
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(177)	(141)
Gross Transfers in, assets	4	124
Gross Transfers out, assets	0	(452)
Balance End of Period	193	369
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(13)	(7)
Other bond securities \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	7,449	8,834
Net Realized and Unrealized Gains (Losses) Included in Income	646	1,098
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(1,658)	(1,805)
Gross Transfers in, assets	698	271
Gross Transfers out, assets	(80)	(949)
Balance End of Period	7,055	7,449
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	(87)	318
Equity securities available for sale
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1	1
Net Realized and Unrealized Gains (Losses) Included in Income	2	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(3)	(1)
Gross Transfers in, assets	0	3
Gross Transfers out, assets	0	(2)
Balance End of Period	0	1
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0
Equity securities available for sale \| Common Stock
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	1	1
Net Realized and Unrealized Gains (Losses) Included in Income	2	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(3)	(1)
Gross Transfers in, assets	0	2
Gross Transfers out, assets	0	(1)
Balance End of Period	0	1
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0
Equity securities available for sale \| Preferred Stock
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	0
Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	0	0
Gross Transfers in, assets	0	0
Gross Transfers out, assets	0	0
Balance End of Period	0	0
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0
Equity securities available for sale \| Mutual Funds
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	0
Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	0	0
Gross Transfers in, assets	0	1
Gross Transfers out, assets	0	(1)
Balance End of Period	0	0
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0	0
Mortgage and other loans receivable
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	6	0
Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	5	6
Gross Transfers in, assets	0	0
Gross Transfers out, assets	0	0
Balance End of Period	11	6
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0
Other invested assets
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	5,650	5,930
Net Realized and Unrealized Gains (Losses) Included in Income	435	150
Other Comprehensive Income (Loss)	(789)	398
Purchases, Sales, Issues and Settlements, Net	(530)	(83)
Gross Transfers in, assets	117	167
Gross Transfers out, assets	(229)	(912)
Balance End of Period	4,654	5,650
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	0
Other equity securities
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation
Balance Beginning of Period	0	0
Net Realized and Unrealized Gains (Losses) Included in Income	(1)	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issues and Settlements, Net	(7)	0
Gross Transfers in, assets	22	0
Gross Transfers out, assets	0	0
Balance End of Period	14	$ 0
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets	$ (2)

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issues and settlements) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	$ 5,990	$ 8,678
Sales, assets	(1,600)	(554)
Settlements, assets	(6,735)	(6,959)
Purchases, Sales, Issues and Settlements, Net, assets	(2,345)	1,165
Purchases, Sales, Issues and Settlements, Net, liabilities	(197)	(32)
Issuances	0	0
Transfers into Level 3 at end of reporting period, net gains (losses) not included in realized and unrealized gains and losses related to Level 3 for the period	(2)	22
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.	(36)	62
Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	19	2
Sales, liabilities	(442)	(152)
Settlements, liabilities	226	118
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Sales, liabilities	(442)	(149)
Settlements, liabilities	(23)	133
Purchases, Sales, Issues and Settlements, Net, liabilities	(465)	(16)
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	19	2
Sales, liabilities	0	(3)
Settlements, liabilities	229	(52)
Purchases, Sales, Issues and Settlements, Net, liabilities	248	(53)
Long-term debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Settlements, liabilities	20	37
Purchases, Sales, Issues and Settlements, Net, liabilities	20	37
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	4,406	7,630
Sales, assets	(530)	(461)
Settlements, assets	(4,312)	(4,077)
Purchases, Sales, Issues and Settlements, Net, assets	(436)	3,092
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	279	1,041
Sales, assets	(37)	(35)
Settlements, assets	(88)	(92)
Purchases, Sales, Issues and Settlements, Net, assets	154	914
Bonds available for sale \| Non-U.S. government
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	18	12
Sales, assets	(1)
Settlements, assets	(7)	(3)
Purchases, Sales, Issues and Settlements, Net, assets	10	9
Bonds available for sale \| Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	221	148
Sales, assets	(60)	(8)
Settlements, assets	(371)	(397)
Purchases, Sales, Issues and Settlements, Net, assets	(210)	(257)
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	2,215	3,301
Sales, assets	(194)	(124)
Settlements, assets	(2,829)	(2,381)
Purchases, Sales, Issues and Settlements, Net, assets	(808)	796
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	273	368
Sales, assets	(28)	(224)
Settlements, assets	(127)	(59)
Purchases, Sales, Issues and Settlements, Net, assets	118	85
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	1,400	2,760
Sales, assets	(210)	(70)
Settlements, assets	(890)	(1,145)
Purchases, Sales, Issues and Settlements, Net, assets	300	1,545
Other bond securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	897	266
Sales, assets	(481)	(68)
Settlements, assets	(1,790)	(2,047)
Purchases, Sales, Issues and Settlements, Net, assets	(1,374)	(1,849)
Other bond securities \| Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Settlements, assets	1
Purchases, Sales, Issues and Settlements, Net, assets	1	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	655	211
Sales, assets	(22)	(31)
Settlements, assets	(173)	(83)
Purchases, Sales, Issues and Settlements, Net, assets	460	97
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
Sales, assets	(79)	(16)
Settlements, assets	(98)	(125)
Purchases, Sales, Issues and Settlements, Net, assets	(177)	(141)
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	242	55
Sales, assets	(380)	(21)
Settlements, assets	(1,520)	(1,839)
Purchases, Sales, Issues and Settlements, Net, assets	(1,658)	(1,805)
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0
Sales, assets	(2)	0
Settlements, assets	(1)	(1)
Purchases, Sales, Issues and Settlements, Net, assets	(3)	(1)
Other equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0
Sales, assets	0
Settlements, assets	(7)
Purchases, Sales, Issues and Settlements, Net, assets	(7)	0
Mortgage and other loans receivable, net of allowance
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	5	6
Sales, assets	0	0
Settlements, assets	0	0
Purchases, Sales, Issues and Settlements, Net, assets	5	6
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	682	776
Sales, assets	(587)	(25)
Settlements, assets	(625)	(834)
Purchases, Sales, Issues and Settlements, Net, assets	$ (530)	$ (83)

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Assets)) - Level 3 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Corporate debt
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 642	$ 1,145
Corporate debt \| Discounted cash flow \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.63%	3.46%
Corporate debt \| Discounted cash flow \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	12.45%	8.75%
Corporate debt \| Discounted cash flow \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	9.04%	6.10%
Residential mortgage-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 17,280	$ 17,353
Residential mortgage-backed securities \| Discounted cash flow \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.13%	2.67%
Constant prepayment rate	0.99%	0.59%
Loss severity	47.21%	46.04%
Constant default rate	3.49%	3.67%
Residential mortgage-backed securities \| Discounted cash flow \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	6.14%	6.64%
Constant prepayment rate	8.95%	9.35%
Loss severity	79.50%	79.56%
Constant default rate	9.04%	9.96%
Residential mortgage-backed securities \| Discounted cash flow \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.63%	4.65%
Constant prepayment rate	4.97%	4.97%
Loss severity	63.35%	62.80%
Constant default rate	6.26%	6.82%
Certain CDO/ABS
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 3,338	$ 5,282
Certain CDO/ABS \| Discounted cash flow \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.41%	4.70%
Certain CDO/ABS \| Discounted cash flow \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.98%	9.70%
Certain CDO/ABS \| Discounted cash flow \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.19%	7.10%
Commercial mortgage backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 2,388	$ 2,687
Commercial mortgage backed securities \| Discounted cash flow \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	0.00%	0.00%
Commercial mortgage backed securities \| Discounted cash flow \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	17.65%	17.29%
Commercial mortgage backed securities \| Discounted cash flow \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	6.62%	6.06%
Obligations of states, municipalities and political subdivisions
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,217	$ 1,178
Obligations of states, municipalities and political subdivisions \| Discounted cash flow \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.32%	3.90%
Obligations of states, municipalities and political subdivisions \| Discounted cash flow \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.10%	4.62%
Obligations of states, municipalities and political subdivisions \| Discounted cash flow \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.71%	4.26%

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Liabilities) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Index Annuities \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 715	$ 294
Index Annuities \| Discounted cash flow \| Minimum \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Mortality rates	50.00%	0.02%
Lapse rates	0.75%	0.75%
Index Annuities \| Discounted cash flow \| Maximum \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Mortality rates	75.00%	44.06%
Lapse rates	66.00%	66.00%
Index Life \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 332	$ 259
Index Life \| Discounted cash flow \| Minimum \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	13.25%	10.00%
Base lapse rates	2.00%	2.00%
Mortality rates	0.00%	0.00%
Index Life \| Discounted cash flow \| Maximum \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	22.00%	25.00%
Base lapse rates	19.00%	19.00%
Mortality rates	40.00%	20.00%
Derivative Liabilities - Credit contracts \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value		$ 791
Derivative Liabilities - Credit contracts \| BET \| Minimum \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Recovery rates		5.00%
Diversity score		8
Weighted average life		2 years 8 months 1 day
Derivative Liabilities - Credit contracts \| BET \| Maximum \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Recovery rates		23.00%
Diversity score		25
Weighted average life		10 years 5 months 26 days
Derivative Liabilities - Credit contracts \| BET \| Weighted-average \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Recovery rates		13.00%
Diversity score		13
Weighted average life		4 years 7 months 24 days
GMWB and GMAB
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Change in equity volatilities assumption	$ 143
Change in equity/interest rate correlation assumption	155
GMWB and GMAB \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 1,234	$ 957
GMWB and GMAB \| Discounted cash flow \| Minimum \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	15.00%	6.00%
Base lapse rates	1.00%	1.00%
Dynamic lapse rates	0.20%	0.20%
Mortality rates	80.00%	0.10%
Utilization rates	0.00%	0.50%
Equity/Interest-rate Correlation	20.00%
GMWB and GMAB \| Discounted cash flow \| Maximum \| Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	50.00%	39.00%
Base lapse rates	17.00%	28.00%
Dynamic lapse rates	25.50%	42.00%
Mortality rates	104.27%	35.00%
Utilization rates	70.00%	30.00%
Equity/Interest-rate Correlation	40.00%

FAIR VALUE MEASUREMENTS (Details - Investments in certain other invested assets, including private equity funds, hedge funds and other alternative investments) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 8,577	$ 8,359
Unfunded Commitments	1,003	986
Private equity funds:
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	2,631	3,160
Unfunded Commitments	$ 970	980
Average original expected lives	10 years
Private equity funds: \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives, Increments	2 years
Private equity funds: \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives, Increments	1 year
Private equity funds: \| Expected remaining lives of less than 3 years
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	78.00%
Private equity funds: \| Expected remaining lives of less than 3 years \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
First threshold level of remaining lives	3 years
Private equity funds: \| Expected remaining lives of 4 to 6 years
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	6.00%
Private equity funds: \| Expected remaining lives of 4 to 6 years \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Second threshold level of remaining lives	6 years
Private equity funds: \| Expected remaining lives of 4 to 6 years \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Second threshold level of remaining lives	4 years
Private equity funds: \| Expected remaining lives of 7 to 10 years
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	16.00%
Private equity funds: \| Expected remaining lives of 7 to 10 years \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Third threshold level of remaining lives	10 years
Private equity funds: \| Expected remaining lives of 7 to 10 years \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Third threshold level of remaining lives	7 years
Leveraged buyout
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 1,774	2,275
Unfunded Commitments	436	450
Real Estate / Infrastructure
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	306	384
Unfunded Commitments	213	227
Venture capital
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	107	121
Unfunded Commitments	41	26
Distressed
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	146	164
Unfunded Commitments	41	43
Other..
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	298	216
Unfunded Commitments	239	234
Hedge funds:
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	5,946	5,199
Unfunded Commitments	$ 33	6
Hedge fund investments redeemable monthly (as a percent)	14.00%
Hedge fund investments redeemable quarterly (as a percent)	47.00%
Hedge fund investments redeemable semi-annually (as a percent)	14.00%
Hedge fund investments redeemable annually (as a percent)	25.00%
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	46.00%
Hedge funds: \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investment redemption notice period (in days/years)	180 days
Hedge funds: \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investment redemption notice period (in days/years)	1 day
Event-driven
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 1,194	1,109
Unfunded Commitments	0	0
Long-short
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	2,978	2,428
Unfunded Commitments	25	1
Macro
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	555	498
Unfunded Commitments	0	0
Distressed
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	699	731
Unfunded Commitments	8	5
Emerging markets
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	353	308
Unfunded Commitments	0	0
Other hedge funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	167	125
Unfunded Commitments	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Details - Gains or losses recorded related to the eligible instruments for which we elected the fair value option) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option credit risk gains (losses) on liabilities	$ 4	$ 32	$ 54
Fair Value Option
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	613	2,140	2,353
Fair Value Option \| Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option credit risk gains (losses) on liabilities	(38)	(269)	327
Fair Value Option \| Other liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option credit risk gains (losses) on liabilities	(3)	(13)	(15)
Fair Value Option \| Mortgage and other loans receivable, net of allowance
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	0	0	3
Fair Value Option \| Bond and equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	616	2,099	1,667
Fair Value Option \| Alternative investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	36	313	360
Fair Value Option \| Other, Including Short Term Investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	$ 2	$ 10	$ 11

FAIR VALUE MEASUREMENTS (Details - Difference between fair values and the aggregate contractual principal amounts of mortgage and other loans receivable and long-term borrowings for which the fair value option was elected) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	$ 11	$ 6
Mortgage and other loans receivable, Difference	29,873	25,261
Long-term debt, Fair Value	3,670	5,466
Long-term debt, Outstanding Principal Amount	29,350	31,217
Fair Value Option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	11	6
Mortgage and other loans receivable, Outstanding Principal Amount	9	4
Mortgage and other loans receivable, Difference	2	2
Long-term debt, Fair Value	3,670	5,466
Long-term debt, Outstanding Principal Amount	2,675	4,101
Long-term debt, Difference	$ 995	$ 1,365
Disclosure level, past due mortgage or other loans receivable for which the fair value option was elected, number of days past due threshold	90 days

FAIR VALUE MEASUREMENTS (Details - Assets measured at fair value on a non-recurring basis at the time of impairment and the related impairment charges recorded during the periods presented) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	$ 809	$ 342	$ 1,114
Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	189	134	112
Investments in life settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	540	201	971
Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Impairment Charges	80	7	$ 31
Fair value on a non-recurring basis \| Level 1 \| Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0	0
Fair value on a non-recurring basis \| Level 1 \| Investments in life settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0	0
Fair value on a non-recurring basis \| Level 1 \| Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0	0
Fair value on a non-recurring basis \| Level 2 \| Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0	0
Fair value on a non-recurring basis \| Level 2 \| Investments in life settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0	0
Fair value on a non-recurring basis \| Level 2 \| Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	0	0
Fair value on a non-recurring basis \| Level 3 \| Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	2,074	1,328
Fair value on a non-recurring basis \| Level 3 \| Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	1,117	790
Fair value on a non-recurring basis \| Level 3 \| Investments in life settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	828	537
Fair value on a non-recurring basis \| Level 3 \| Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	129	1
Fair value on a non-recurring basis \| Total Fair Value \| Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	2,074	1,328
Fair value on a non-recurring basis \| Total Fair Value \| Other investments
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	1,117	790
Fair value on a non-recurring basis \| Total Fair Value \| Investments in life settlements
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	828	537
Fair value on a non-recurring basis \| Total Fair Value \| Other assets
Fair Value Assets Measured on Nonrecurring Basis [Line Items]
Assets at Fair Value, Non-Recurring Basis	$ 129	$ 1

FAIR VALUE MEASUREMENTS (Details - Carrying values and estimated fair values of our financial instruments not measured at fair value) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets:
Mortgage and other loans receivable	$ 29,565	$ 24,990
Short-term investments	10,132	11,243
Cash	1,629	1,758	$ 2,241	$ 1,151
Liabilities:
Other liabilities	26,164	26,441
Long-term Debt	29,350	31,217
Total Fair Value
Assets:
Mortgage and other loans receivable	30,345	26,606
Other invested assets	3,443	3,475
Short-term investments	7,541	9,559
Cash	1,629	1,758
Liabilities:
Policyholder contract deposits associated with investment-type contracts	117,846	119,512
Other liabilities	2,852	1,120
Long-term Debt	26,214	27,681
Level 1
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	1,629	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	198	449
Other invested assets	563	593
Short-term investments	7,541	9,559
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	309	244
Other liabilities	2,852	1,120
Long-term Debt	21,686	24,749
Level 3
Assets:
Mortgage and other loans receivable	30,147	26,157
Other invested assets	2,880	2,882
Short-term investments	0	0
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	117,537	119,268
Other liabilities	0	0
Long-term Debt	4,528	2,932
Carrying Value
Assets:
Mortgage and other loans receivable	29,554	24,984
Other invested assets	4,169	4,352
Short-term investments	7,541	9,559
Cash	1,629	1,758
Liabilities:
Policyholder contract deposits associated with investment-type contracts	108,788	106,395
Other liabilities	2,852	1,120
Long-term Debt	$ 25,680	$ 25,751

INVESTMENTS (Details - Amortized cost or cost and fair value of Available for sale securities) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 242,347	$ 245,237
Available for sale securities, Gross Unrealized Gains	14,087	20,890
Available for sale securities, Gross Unrealized Losses	(5,274)	(1,873)
Available-for-sale Securities	251,160	264,254
AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,482	2,080
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	240,968	243,307
Available for sale securities, Gross Unrealized Gains	12,527	18,371
Available for sale securities, Gross Unrealized Losses	(5,250)	(1,819)
Available-for-sale Securities	248,245	259,859
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	34,900	35,100
Bonds available for sale \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,482	2,080
Bonds available for sale \| U.S. government and government sponsored entities
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	1,698	2,806
Available for sale securities, Gross Unrealized Gains	155	204
Available for sale securities, Gross Unrealized Losses	(9)	(18)
Available-for-sale Securities	1,844	2,992
Bonds available for sale \| U.S. government and government sponsored entities \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale \| Obligations of states, municipalities and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	26,003	25,979
Available for sale securities, Gross Unrealized Gains	1,424	1,729
Available for sale securities, Gross Unrealized Losses	(104)	(49)
Available-for-sale Securities	27,323	27,659
Bonds available for sale \| Obligations of states, municipalities and political subdivisions \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	19	(13)
Bonds available for sale \| Non-U.S. government
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	17,752	20,280
Available for sale securities, Gross Unrealized Gains	805	966
Available for sale securities, Gross Unrealized Losses	(362)	(151)
Available-for-sale Securities	18,195	21,095
Bonds available for sale \| Non-U.S. government \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale \| Corporate debt
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	133,513	134,961
Available for sale securities, Gross Unrealized Gains	6,462	10,594
Available for sale securities, Gross Unrealized Losses	(3,987)	(1,122)
Available-for-sale Securities	135,988	144,433
Bonds available for sale \| Corporate debt \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	(87)	64
Bonds available for sale \| Mortgage-backed, asset-backed and collateralized
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	62,002	59,281
Available for sale securities, Gross Unrealized Gains	3,681	4,878
Available for sale securities, Gross Unrealized Losses	(788)	(479)
Available-for-sale Securities	64,895	63,680
Bonds available for sale \| Mortgage-backed, asset-backed and collateralized \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,550	2,029
Bonds available for sale \| Residential mortgage-backed securities (RMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	33,878	34,377
Available for sale securities, Gross Unrealized Gains	2,760	3,435
Available for sale securities, Gross Unrealized Losses	(411)	(292)
Available-for-sale Securities	36,227	37,520
Bonds available for sale \| Residential mortgage-backed securities (RMBS) \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,326	1,767
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	13,139	12,129
Available for sale securities, Gross Unrealized Gains	561	815
Available for sale securities, Gross Unrealized Losses	(129)	(59)
Available-for-sale Securities	13,571	12,885
Bonds available for sale \| Commercial mortgage-backed securities (CMBS) \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	185	215
Bonds available for sale \| Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	14,985	12,775
Available for sale securities, Gross Unrealized Gains	360	628
Available for sale securities, Gross Unrealized Losses	(248)	(128)
Available-for-sale Securities	15,097	13,275
Bonds available for sale \| Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS) \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	39	47
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	1,379	1,930
Available for sale securities, Gross Unrealized Gains	1,560	2,519
Available for sale securities, Gross Unrealized Losses	(24)	(54)
Available-for-sale Securities	2,915	4,395
Equity securities available for sale \| Common Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	913	1,185
Available for sale securities, Gross Unrealized Gains	1,504	2,461
Available for sale securities, Gross Unrealized Losses	(16)	(17)
Available-for-sale Securities	2,401	3,629
Equity securities available for sale \| Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	19	21
Available for sale securities, Gross Unrealized Gains	3	4
Available for sale securities, Gross Unrealized Losses	0	0
Available-for-sale Securities	22	25
Equity securities available for sale \| Mutual Funds
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	447	724
Available for sale securities, Gross Unrealized Gains	53	54
Available for sale securities, Gross Unrealized Losses	(8)	(37)
Available-for-sale Securities	$ 492	$ 741

INVESTMENTS (Details - Summary of fair value and gross unrealized losses on available for sale securities aggregated by major investment category and length of time in a continuous unrealized loss position) $ in Millions	Dec. 31, 2015 USD ($) item	Dec. 31, 2014 USD ($)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 67,217	$ 23,825
Gross Unrealized Losses, Less than 12 Months	3,182	719
Fair Value, 12 Months or More	13,595	22,344
Gross Unrealized Losses, 12 Months or More	2,092	1,154
Fair Value, Total	80,812	46,169
Gross Unrealized Losses, Total	5,274	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	66,926	23,457
Gross Unrealized Losses, Less than 12 Months	3,158	666
Fair Value, 12 Months or More	13,595	22,278
Gross Unrealized Losses, 12 Months or More	2,092	1,153
Fair Value, Total	80,521	45,735
Gross Unrealized Losses, Total	$ 5,250	1,819
Number of securities in an unrealized loss position \| item	14,972
Number of individual securities in continuous unrealized loss position for longer than twelve months \| item	2,176
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	$ 483	526
Gross Unrealized Losses, Less than 12 Months	9	5
Fair Value, 12 Months or More	1	281
Gross Unrealized Losses, 12 Months or More	0	13
Fair Value, Total	484	807
Gross Unrealized Losses, Total	9	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	2,382	495
Gross Unrealized Losses, Less than 12 Months	87	9
Fair Value, 12 Months or More	268	794
Gross Unrealized Losses, 12 Months or More	17	40
Fair Value, Total	2,650	1,289
Gross Unrealized Losses, Total	104	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	4,327	1,606
Gross Unrealized Losses, Less than 12 Months	203	42
Fair Value, 12 Months or More	832	1,690
Gross Unrealized Losses, 12 Months or More	159	109
Fair Value, Total	5,159	3,296
Gross Unrealized Losses, Total	362	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	41,317	12,132
Gross Unrealized Losses, Less than 12 Months	2,514	450
Fair Value, 12 Months or More	5,428	11,570
Gross Unrealized Losses, 12 Months or More	1,473	672
Fair Value, Total	46,745	23,702
Gross Unrealized Losses, Total	3,987	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	7,215	4,621
Gross Unrealized Losses, Less than 12 Months	133	109
Fair Value, 12 Months or More	4,318	3,996
Gross Unrealized Losses, 12 Months or More	278	183
Fair Value, Total	11,533	8,617
Gross Unrealized Losses, Total	411	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	4,138	220
Gross Unrealized Losses, Less than 12 Months	108	1
Fair Value, 12 Months or More	573	2,087
Gross Unrealized Losses, 12 Months or More	21	58
Fair Value, Total	4,711	2,307
Gross Unrealized Losses, Total	129	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	7,064	3,857
Gross Unrealized Losses, Less than 12 Months	104	50
Fair Value, 12 Months or More	2,175	1,860
Gross Unrealized Losses, 12 Months or More	144	78
Fair Value, Total	9,239	5,717
Gross Unrealized Losses, Total	248	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	291	368
Gross Unrealized Losses, Less than 12 Months	24	53
Fair Value, 12 Months or More	0	66
Gross Unrealized Losses, 12 Months or More	0	1
Fair Value, Total	291	434
Gross Unrealized Losses, Total	$ 24	54
Number of securities in an unrealized loss position \| item	174
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	$ 91	88
Gross Unrealized Losses, Less than 12 Months	16	16
Fair Value, 12 Months or More	0	2
Gross Unrealized Losses, 12 Months or More	0	1
Fair Value, Total	91	90
Gross Unrealized Losses, Total	16	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	200	280
Gross Unrealized Losses, Less than 12 Months	8	37
Fair Value, 12 Months or More	0	64
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	200	344
Gross Unrealized Losses, Total	$ 8	$ 37

INVESTMENTS (Details - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 242,347	$ 245,237
Fixed Maturity Securities Available for Sale, Fair Value, Total	248,245	259,859
Fixed Maturity Securities Available for Sale in a Loss Position
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	1,122	637
Due after one year through five years, Amortized Cost	9,847	6,669
Due after five years through ten years, Amortized Cost	22,296	12,873
Due after ten years, Amortized Cost	26,235	10,255
Mortgage-backed, asset-backed and collateralized, Amortized Cost	26,271	17,120
Available for sale securities, Amortized Cost, Total	85,771	47,554
Due in one year or less, Fair Value	1,103	620
Due after one year through five years, Fair Value	9,494	6,529
Due after five years through ten years, Fair Value	20,686	12,338
Due after ten years, Fair Value	23,755	9,607
Mortgage-backed, asset-backed and collateralized, Fair Value	25,483	16,641
Fixed Maturity Securities Available for Sale, Fair Value, Total	80,521	45,735
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	9,176	9,821
Due after one year through five years, Amortized Cost	47,230	48,352
Due after five years through ten years, Amortized Cost	54,120	62,685
Due after ten years, Amortized Cost	68,440	63,168
Mortgage-backed, asset-backed and collateralized, Amortized Cost	62,002	59,281
Available for sale securities, Amortized Cost, Total	240,968	243,307
Due in one year or less, Fair Value	9,277	9,975
Due after one year through five years, Fair Value	49,196	50,873
Due after five years through ten years, Fair Value	54,459	65,889
Due after ten years, Fair Value	70,418	69,442
Mortgage-backed, asset-backed and collateralized, Fair Value	64,895	63,680
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 248,245	$ 259,859

INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	$ 1,577	$ 838	$ 2,764
Gross Realized Losses	451	142	221
Aggregate fair value of available for sale securities sold	28,700	25,300	35,900
Net realized capital gains (losses)	1,100	700	2,500
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	517	703	2,634
Gross Realized Losses	423	118	202
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	1,060	135	130
Gross Realized Losses	$ 28	$ 24	$ 19

INVESTMENTS (Details - Value of other securities measured at fair value based on election of the fair value option) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 17,703	$ 20,761
Other Securities, Percent of Total	100.00%	100.00%
U.S. Government agency backed ABS
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 712	$ 859
Fixed maturity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 16,782	$ 19,712
Other Securities, Percent of Total	95.00%	95.00%
Fixed maturity securities \| U.S. government and government sponsored entities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 3,369	$ 5,498
Other Securities, Percent of Total	19.00%	27.00%
Fixed maturity securities \| Obligations of states, territories and political subdivisions
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 75	$ 122
Other Securities, Percent of Total	0.00%	1.00%
Fixed maturity securities \| Non-U.S. government
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 50	$ 2
Other Securities, Percent of Total	0.00%	0.00%
Fixed maturity securities \| Corporate debt
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 2,035	$ 719
Other Securities, Percent of Total	12.00%	3.00%
Fixed maturity securities \| Mortgage-backed, asset-backed and collateralized
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 11,253	$ 13,371
Other Securities, Percent of Total	64.00%	64.00%
Fixed maturity securities \| Residential mortgage-backed securities (RMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 2,230	$ 2,094
Other Securities, Percent of Total	13.00%	10.00%
Fixed maturity securities \| Commercial mortgage-backed securities (CMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 750	$ 1,077
Other Securities, Percent of Total	4.00%	5.00%
Fixed maturity securities \| Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 8,273	$ 10,200
Other Securities, Percent of Total	47.00%	49.00%
Fixed maturity securities \| Other
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 0	$ 0
Other Securities, Percent of Total	0.00%	0.00%
Equity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 921	$ 1,049
Other Securities, Percent of Total	5.00%	5.00%

INVESTMENTS (Details - Carrying values of other invested assets) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Investment [Line Items]
Other invested assets	$ 29,794	$ 34,518
Other invested assets, gross unrealized losses	33	56
Alternative investments
Investment [Line Items]
Other invested assets	18,150	19,656
Mutual Funds
Investment [Line Items]
Other invested assets		0
Investment real estate
Investment [Line Items]
Other invested assets	6,579	3,612
Net of accumulated depreciation on investment in real estate	668	315
Aircraft asset investments
Investment [Line Items]
Other invested assets	477	651
Investment In Aer Cap [Member]
Investment [Line Items]
Other invested assets	0	4,972
Investments in life settlements
Investment [Line Items]
Other invested assets	3,606	3,753
All other investments
Investment [Line Items]
Other invested assets	$ 982	$ 1,874

INVESTMENTS (Details - Summarized financial information of equity method investees) - All other equity method investments - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating results:
Total revenues	$ 22,055	$ 29,579	$ 19,181
Total expenses	(3,898)	(7,828)	(5,515)
Net income	18,157	21,751	$ 13,666
Balance sheet:
Total assets	201,007	207,994
Total liabilities	(33,424)	(67,346)
Equity method investments, Carrying Value	$ 14,259	$ 18,951

- Definition

The amount of net income (loss) reported by an equity method investment of the entity.

+ References + Details

INVESTMENTS (Details - Life settlements) $ in Millions	12 Months Ended
INVESTMENTS (Details - Life settlements) $ in Millions	Dec. 31, 2015 USD ($) item	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
INVESTMENTS
Income recognized on life settlement contracts	$ 332	$ 407	$ 334
Number of Contracts
Number of Contracts, 0 - 1 year \| item	1
Number of Contracts, 1 - 2 years \| item	9
Number of Contracts, 2 - 3 years \| item	16
Number of Contracts, 3 - 4 years \| item	72
Number of Contracts, 4 - 5 years \| item	156
Number of Contracts, Thereafter \| item	4,300
Total Number of Contracts \| item	4,554
Carrying Value
Carrying Value, 1 to 2 years	$ 9
Carrying Value, 2 to 3 years	10
Carrying Value, 3 to 4 years	50
Carrying Value, 4 to 5 years	235
Carrying Value, Thereafter	3,302
Total of Carrying Value	3,606
Face Value (Death Benefits)
Face Value (Death Benefits), 1 - 2 years	17
Face Value (Death Benefits), 2 - 3 years	20
Face Value (Death Benefits), 3 - 4 years	113
Face Value (Death Benefits), 4 - 5 years	485
Face Value (Death Benefits), Thereafter	14,233
Total of Face Value (Death Benefits)	14,868
Anticipated life insurance premiums
2016	530
2017	553
2018	579
2019	598
2020	$ 607

INVESTMENTS (Details - Components of Net investment income) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investment [Line Items]
Total investment income	$ 14,581	$ 16,596	$ 16,358
Investment expenses	528	517	548
Net investment income	14,053	16,079	15,810
Fixed maturity securities, including short-term investments
Investment [Line Items]
Total investment income	11,332	12,322	12,044
Equity securities
Investment [Line Items]
Total investment income	99	221	178
Interest on mortgage and other loans
Investment [Line Items]
Total investment income	1,417	1,272	1,144
Alternative investments
Investment [Line Items]
Total investment income	1,476	2,624	2,803
Real estate
Investment [Line Items]
Total investment income	181	110	128
Other investments
Investment [Line Items]
Total investment income	$ 76	$ 47	$ 61

INVESTMENTS (Details - Components of Net realized capital gains (losses)) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other-than-temporary impairments:
Severity	$ (13)	$ (3)	$ (6)
Change in intent	(233)	(40)	(48)
Foreign currency declines	(57)	(19)	(1)
Issuer-specific credit events	(348)	(169)	(170)
Adverse projected cash flows	(20)	(16)	(7)
Provision for loan losses	(58)	(1)	(26)
Foreign exchange transactions	416	598	151
Derivative instruments	341	(177)	287
Impairments of investments in life settlements	(540)	(201)	(971)
Other	162	71	187
Total net realized capital gains	776	739	1,939
MetLife
Other-than-temporary impairments:
Total net realized capital gains			0
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Sale of fixed maturity securities	94	585	2,432
Equity securities
Gain (Loss) on Investments [Line Items]
Sale of fixed maturity securities	$ 1,032	$ 111	$ 111

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (11,007)	$ 7,720
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(9,275)	6,809
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(929)	535
Other investments
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (803)	$ 376

INVESTMENTS (Details - Rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fixed maturity securities
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 2,659	$ 3,872	$ 5,164
Increases due to:
Credit impairments on new securities subject to impairment losses	111	49	47
Additional credit impairments on previously impaired securities	109	85	78
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(399)	(613)	(643)
Credit impaired securities for which there is a current intent or anticipated requirement to sell	2	0	0
Accretion on securities previously impaired due to credit	(735)	(725)	(774)
Other	0	(9)	0
Balance, end of year	$ 1,747	$ 2,659	$ 3,872
Equity securities
Reductions due to:
Percent discount to cost for purposes of evaluating other-than-temporary impairment	25.00%
Criteria for considering impairment, period over which securities have been in a continuous decline in a value below cost	12 months
Rapid and severe percent discount to cost for purposes of evaluating other-than-temporary impairment	50.00%
Criteria for considering impairment, period of time traded at discount	9 months

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 240,968	$ 243,307
Fair value	251,160	264,254
Purchased Credit Impaired (PCI) Securities
Schedule of Available-for-sale Securities [Line Items]
Contractually required payments (principal and interest)	33,191
Cash flows expected to be collected	26,882
Recorded investment in acquired securities	17,955
Outstanding principal balance	16,871	16,962
Amortized cost	12,303	12,216
Fair value	13,164	13,462
Available for sale securities \| Purchased Credit Impaired (PCI) Securities
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of year	6,865	6,940
Newly purchased PCI securities	696	1,289
Disposals	(13)	0
Accretion	(879)	(880)
Effect of changes in interest rate indices	(251)	(542)
Net reclassification from non-accretable difference, including effects of prepayments	428	58
Balance, end of year	$ 6,846	$ 6,865

INVESTMENTS (Details - Pledged Investments) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Investment [Line Items]
Cash collateral as a percentage of security value used to determine classification as a sale	90.00%
Fair value of securities pledged	$ 1,742	$ 2,506
Fair value of amount repledged	0	131
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	4,900	5,900
Short-term investments held in escrow	439
31 to 90 Days \| Non-U.S. government
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	57
91 to 364 Days \| Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	49
Up to 30 Days \| Non-U.S. government
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	50
FHLBs
Investment [Line Items]
Fair value of available for sale securities	1,200	500
Amount owned by subsidiaries	47	44
Secured financing
Investment [Line Items]
Fair value of available for sale securities	1,145	0
Fair value of other securities	1,740	2,122
Amounts Borrowed Under Repurchase and Securities Lending Agreements	2,900
Secured financing \| 31 to 90 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	332
Securities Lending Agreements, Fair Value of Collateral	914
Secured financing \| 91 to 364 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	1,326
Securities Lending Agreements, Fair Value of Collateral	124
Secured financing \| Up to 30 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	33
GIAs
Investment [Line Items]
Fair value of other securities	$ 2,400	$ 3,500

LENDING ACTIVITIES (Details - Composition of Mortgages and other loans receivable) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 29,873	$ 25,261
Allowance for losses	(308)	(271)	$ (312)	$ (405)
Mortgage and other loans receivable, net	29,565	24,990
Commercial mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	22,067	18,909
Allowance for losses	$ (171)	$ (159)	$ (201)	$ (159)
Commercial mortgages \| California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	22.00%	18.00%
Commercial mortgages \| New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	12.00%	14.00%
Residential Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 2,758	$ 1,007
Life insurance policy loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	2,597	2,710
Commercial loans, other loans and notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 2,451	$ 2,635

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgage loans) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) loan	Dec. 31, 2014 USD ($) loan	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)
Commercial Mortgage Recorded Investment [Line Items]
Mortgage and other loans receivable, net	$ 29,565	$ 24,990
Allowance for losses	308	271	$ 312	$ 405
Apartments
Commercial Mortgage Recorded Investment [Line Items]
In good standing	3,916	3,384
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	3	0
Mortgage and other loans receivable, net	3,919	3,384
Allowance for losses, Specific	0	0
Allowance for losses, General	35	3
Allowance for losses	35	3
Offices
Commercial Mortgage Recorded Investment [Line Items]
In good standing	7,484	6,100
Restructured	156	343
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	205	75
Mortgage and other loans receivable, net	7,845	6,518
Allowance for losses, Specific	16	27
Allowance for losses, General	47	59
Allowance for losses	63	86
Retail
Commercial Mortgage Recorded Investment [Line Items]
In good standing	4,809	3,807
Restructured	25	7
90 days or less delinquent	4	10
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	4,838	3,824
Allowance for losses, Specific	1	3
Allowance for losses, General	29	25
Allowance for losses	30	28
Industrial
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,902	1,689
Restructured	6	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	6	0
Mortgage and other loans receivable, net	1,914	1,689
Allowance for losses, Specific	6	13
Allowance for losses, General	8	9
Allowance for losses	14	22
Hotel
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,082	1,660
Restructured	16	17
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Mortgage and other loans receivable, net	2,098	1,677
Allowance for losses, Specific	1	3
Allowance for losses, General	15	3
Allowance for losses	16	6
Others
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,435	1,812
Restructured	6	0
90 days or less delinquent	0	5
Greater than 90 days delinquent or in process of foreclosure	12	0
Mortgage and other loans receivable, net	1,453	1,817
Allowance for losses, Specific	0	9
Allowance for losses, General	13	5
Allowance for losses	$ 13	$ 14
Commercial mortgages
Commercial Mortgage Recorded Investment [Line Items]
Number of loans in good standing \| loan	830	1,007
Number of loans restructured \| loan	9	7
Number of loans 90 days or less delinquent \| loan	1	6
Number of loans greater than 90 days delinquent or in process of foreclosure \| loan	9	4
Number of Loans \| loan	849	1,024
In good standing	$ 21,628	$ 18,452
Restructured	209	367
90 days or less delinquent	4	15
Greater than 90 days delinquent or in process of foreclosure	226	75
Mortgage and other loans receivable, net	22,067	18,909
Allowance for losses, Specific	24	55
Allowance for losses, General	147	104
Allowance for losses	$ 171	$ 159
Percentage of loans that are current as to payments of principal and interest	98.00%	98.00%
Percentage restructured	1.00%	2.00%
Percentage greater than 90 days delinquent or in foreclosure	1.00%	0.00%
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%

LENDING ACTIVITIES (Details - Rollforward of the changes in the allowance for losses on Mortgage and other loans receivable) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 271	$ 312	$ 405
Loans charged off	(29)	(68)	(116)
Recoveries of loans previously charged off	5	34	9
Net charge-offs	(24)	(34)	(107)
Provision for loan losses	58	(8)	20
Other	3	1	(6)
Activity of discontinued operations	0	0	0
Allowance, end of period	308	271	312
Loans modified in a troubled debt restructuring	36	218
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	159	201	159
Loans charged off	(23)	(29)	(12)
Recoveries of loans previously charged off	4	18	3
Net charge-offs	(19)	(11)	(9)
Provision for loan losses	31	(31)	52
Other	0	0	(1)
Activity of discontinued operations	0	0	0
Allowance, end of period	171	159	201
Allowance related to individually assessed credit losses	24	55
Commercial mortgage loans	507	192
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	112	111	246
Loans charged off	(6)	(39)	(104)
Recoveries of loans previously charged off	1	16	6
Net charge-offs	(5)	(23)	(98)
Provision for loan losses	27	23	(32)
Other	3	1	(5)
Activity of discontinued operations	0	0	0
Allowance, end of period	$ 137	$ 112	$ 111

REINSURANCE (Details - Supplemental information for loss and benefit reserves, gross and net of ceded reinsurance) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Effects of Reinsurance [Line Items]
Allowance for doubtful accounts on reinsurance assets	$ 272	$ 258	$ 276
Supplemental information for loss and benefit reserves
Liability for unpaid claims and claims adjustment expense, As Reported	(74,942)	(77,260)	(81,547)	$ (87,991)
Liability for unpaid claims and claims adjustment expense, Net of Reinsurance	(60,603)	(61,612)	(64,316)	$ (68,782)
Future policy benefits for life and accident and health insurance contracts	(43,585)	(42,749)
Future policy benefits for life and accident and health insurance contracts, Net of Reinsurance	(42,506)	(41,767)
Reserve for unearned premiums, As Reported	(21,318)	(21,324)
Reserve for unearned premiums, Net of Reinsurance	(18,380)	(18,278)
Reinsurance assets	18,356	19,676
NICO
Supplemental information for loss and benefit reserves
Net of reinsurance amount reflecting cession	$ 1,800	$ 1,500	$ 1,600

REINSURANCE (Details - Short-Duration Reinsurance) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Premiums Written
Direct	$ 42,931	$ 43,425	$ 43,984
Assumed	2,979	3,419	4,319
Ceded	(8,360)	(8,979)	(10,134)
Net Amount	37,550	37,865	38,169
Premiums earned:
Net	36,655	37,254	37,499
Reinsurance recoveries, which reduced policyholder benefits and claims incurred				$ 19,209
Short-duration insurance
Premiums earned:
Reinsurance recoveries, which reduced policyholder benefits and claims incurred	4,100	2,600	3,300
Reportable Segments \| Total AIG Property Casualty \| Short-duration insurance
Premiums Written
Direct	37,698	39,375	39,833
Assumed	2,972	3,399	4,306
Ceded	(7,604)	(8,318)	(9,514)
Net Amount	33,066	34,456	34,625
Premiums earned:
Direct	37,105	38,707	39,018
Assumed	2,659	3,258	3,516
Ceded	(7,593)	(8,140)	(8,585)
Net	32,171	33,825	33,949
Run-off Insurance Lines
Premiums Written
Direct	6	11	9
Net Amount	$ 6	$ 11	$ 9

REINSURANCE (Details - Long-Duration Reinsurance) $ in Thousands		12 Months Ended
	Feb. 07, 2014 USD ($) item	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)
Premiums earned:
Reinsurance recoveries, which reduced policyholder benefits and claims incurred					$ 19,209,000
Letters of credit
Letter of credit outstanding		$ 208,000
New letter of credit
Letters of credit
Letters of credit obtained on a bilateral basis related to long-duration intercompany reinsurance transactions	$ 450,000
Number of new bilateral letters of credit \| item	2
Automatic extension period	1 year
Long-duration insurance in force
Premiums earned:
Ceded		(756,000)
Reinsurance recoveries, which reduced policyholder benefits and claims incurred		1,000	$ 731,000	$ 714,000
Life insurance ratios
Long-duration insurance in force ceded		$ 177,025,000	$ 180,178,000	$ 122,012,000
Assumed insurance as a percentage of gross long-duration insurance in force		0.04%	0.04%	0.05%
Assumed insurance as a percent of gross premiums		0.10%	0.50%	0.30%
Letters of credit
Syndicated letter of credit facility outstanding related to long-duration intercompany reinsurance transactions			$ 260,000
Letters of credit obtained on a bilateral basis related to long-duration intercompany reinsurance transactions			190,000
Letter of credit outstanding			450,000
Divested Businesses \| Long-duration insurance in force
Life insurance ratios
Assumed insurance as a percentage of gross long-duration insurance in force		0.04%
Assumed insurance as a percent of gross premiums		0.10%
Life insurance companies
Premiums earned:
Direct		$ 5,240,000	4,070,000	$ 4,164,000
Ceded		(756,000)	(661,000)	(620,000)
Net		4,484,000	3,409,000	3,544,000
Life insurance companies \| Long-duration insurance in force
Premiums earned:
Direct		5,234,000	4,059,000	4,155,000
Ceded		(756,000)	(661,000)	(620,000)
Net		4,478,000	3,398,000	3,535,000
Letters of credit
Syndicated letter of credit facility outstanding related to long-duration intercompany reinsurance transactions		0
Letters of credit obtained on a bilateral basis related to long-duration intercompany reinsurance transactions		0
Letter of credit outstanding		450,000
Life insurance companies \| Divested Businesses
Premiums earned:
Direct		6,000	11,000	9,000
Ceded		0	0	0
Net		$ 6,000	$ 11,000	$ 9,000

REINSURANCE (Details - Reinsurance Security) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reinsurance Security
Reinsurance assets	$ 18,356	$ 19,676
Secured \| Reinsurer Concentration Risk [Member]
Reinsurance Security
Reinsurance assets	6,500	6,200	$ 6,000
Unsecured \| Reinsurer Concentration Risk [Member]
Reinsurance Security
Reinsurance assets	$ 3,700	$ 3,300	$ 3,300

DEFERRED POLICY ACQUISITION COSTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Rollforward of deferred policy acquisition costs
Amortization expense	$ (5,236)	$ (5,330)	$ (5,157)
Balance, end of year	11,115	9,827	9,436
Value of business acquired
Amortization of VOBA	64	17	23
Unamortized balance of VOBA	$ 453	510	373
Percentage of unamortized balance of VOBA expected to be amortized in the next five years
Year one (as a percent)	8.40%
Year two (as a percent)	7.60%
Year three (as a percent)	7.10%
Year four (as a percent)	6.90%
Year five (as a percent)	6.50%
Years after five year (as a percent)	63.50%
Divested Businesses
Rollforward of deferred policy acquisition costs
Increase (decrease) in deferred policy acquisition costs due to net unrealized gains and losses on available for sale securities			0
Non-life insurance companies
Rollforward of deferred policy acquisition costs
Balance, beginning of year before consolidation and eliminations	$ 2,551	2,493	2,342
Acquisition costs deferred	4,537	4,805	4,803
Amortization expense	(4,313)	(4,599)	(4,481)
Other	(144)	(148)	(171)
Balance, end of year before consolidation and eliminations	2,631	2,551	2,493
Life insurance companies
Rollforward of deferred policy acquisition costs
Balance, beginning of year before consolidation and eliminations	7,258	6,920	5,815
Acquisition costs deferred	1,288	1,114	1,034
Amortization expense	(916)	(727)	(674)
Change in net unrealized gains (losses) on securities	848	(360)	784
Increase (decrease) due to foreign exchange	(34)	(32)	(39)
Other	23	343	0
Balance, end of year before consolidation and eliminations	8,467	7,258	6,920
Consolidation and Eliminations
Rollforward of deferred policy acquisition costs
Balance, beginning of year before consolidation and eliminations	18	23
Balance, end of year before consolidation and eliminations	$ 17	$ 18	$ 23

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Assets:
Bonds available for sale	$ 248,245.0	$ 259,859.0
Other bond securities	16,782.0	19,712.0
Mortgage and other loans receivable	29,565.0	24,990.0
Other invested assets	29,794.0	34,518.0
Liabilities:
Long-term debt (portion measured at fair value: 2015 - $3,670; 2014 - $5,466)	29,350.0	31,217.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	29,794.0	34,518.0
Real Estate and Investment Funds
Liabilities:
Off-balance sheet exposure	131.2	56.4
Structured Investment Vehicles \| Minimum
Assets:
Total assets	0.0	0.0
Consolidated VIE
Assets:
Bonds available for sale	10,324.0	11,494.0
Other bond securities	6,167.0	7,906.0
Mortgage and other loans receivable	2,093.0	2,560.0
Other invested assets	3,598.0	2,941.0
Other assets	1,924.0	1,752.0
Total assets	24,106.0	26,653.0
Liabilities:
Long-term debt (portion measured at fair value: 2015 - $3,670; 2014 - $5,466)	2,597.0	1,697.0
Other liabilities	556.0	446.0
Total liabilities	3,153.0	2,143.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	3,598.0	2,941.0
Consolidated VIE \| Real Estate and Investment Funds
Assets:
Bonds available for sale	0.0	0.0
Other bond securities	0.0	0.0
Mortgage and other loans receivable	1.0	0.0
Other invested assets	489.0	577.0
Other assets	29.0	40.0
Total assets	519.0	617.0
Liabilities:
Long-term debt (portion measured at fair value: 2015 - $3,670; 2014 - $5,466)	0.0	69.0
Other liabilities	34.0	32.0
Total liabilities	34.0	101.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	489.0	577.0
Consolidated VIE \| Securitization Vehicles
Assets:
Bonds available for sale	10,309.0	11,459.0
Other bond securities	5,756.0	7,251.0
Mortgage and other loans receivable	1,960.0	2,398.0
Other invested assets	477.0	651.0
Other assets	1,349.0	1,447.0
Total assets	19,851.0	23,206.0
Liabilities:
Long-term debt (portion measured at fair value: 2015 - $3,670; 2014 - $5,466)	1,025.0	1,370.0
Other liabilities	236.0	276.0
Total liabilities	1,261.0	1,646.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	477.0	651.0
Consolidated VIE \| Structured Investment Vehicles
Assets:
Bonds available for sale	0.0	0.0
Other bond securities	387.0	615.0
Mortgage and other loans receivable	0.0	0.0
Other invested assets	0.0	0.0
Other assets	94.0	140.0
Total assets	481.0	755.0
Liabilities:
Long-term debt (portion measured at fair value: 2015 - $3,670; 2014 - $5,466)	53.0	52.0
Other liabilities	1.0	0.0
Total liabilities	54.0	52.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	0.0	0.0
Consolidated VIE \| Affordable Housing Partnerships
Assets:
Bonds available for sale	0.0	0.0
Other bond securities	0.0	0.0
Mortgage and other loans receivable	0.0	0.0
Other invested assets	2,608.0	1,684.0
Other assets	293.0	49.0
Total assets	2,901.0	1,733.0
Liabilities:
Long-term debt (portion measured at fair value: 2015 - $3,670; 2014 - $5,466)	1,513.0	199.0
Other liabilities	214.0	101.0
Total liabilities	1,727.0	300.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	2,608.0	1,684.0
Consolidated VIE \| Other
Assets:
Bonds available for sale	15.0	35.0
Other bond securities	24.0	40.0
Mortgage and other loans receivable	132.0	162.0
Other invested assets	24.0	29.0
Other assets	159.0	76.0
Total assets	354.0	342.0
Liabilities:
Long-term debt (portion measured at fair value: 2015 - $3,670; 2014 - $5,466)	6.0	7.0
Other liabilities	71.0	37.0
Total liabilities	77.0	44.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	24.0	29.0
Unconsolidated VIE
Assets:
Other invested assets	3.8	3.2
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	28,316.0	29,819.0
Maximum Exposure to Loss, On-Balance Sheet	4,061.0	3,514.0
Maximum Exposure to Loss, Off-Balance Sheet	1,398.0	1,446.0
Total maximum exposure to loss	5,459.0	4,960.0
Other invested assets	3.8	3.2
Unconsolidated VIE \| Real Estate and Investment Funds
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	21,951.0	19,949.0
Maximum Exposure to Loss, On-Balance Sheet	3,072.0	2,785.0
Maximum Exposure to Loss, Off-Balance Sheet	398.0	454.0
Total maximum exposure to loss	3,470.0	3,239.0
Unconsolidated VIE \| Affordable Housing Partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	5,255.0	7,911.0
Maximum Exposure to Loss, On-Balance Sheet	774.0	425.0
Maximum Exposure to Loss, Off-Balance Sheet	0.0	0.0
Total maximum exposure to loss	774.0	425.0
Unconsolidated VIE \| Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	1,110.0	1,959.0
Maximum Exposure to Loss, On-Balance Sheet	215.0	304.0
Maximum Exposure to Loss, Off-Balance Sheet	1,000.0	992.0
Total maximum exposure to loss	1,215.0	1,296.0
Unconsolidated VIE \| Other \| As Previously Reported
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Maximum Exposure to Loss, On-Balance Sheet		32.0
Maximum Exposure to Loss, Off-Balance Sheet		$ 0.0
Unconsolidated VIE \| Maiden Lane II and III interests
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	0.0
Maximum Exposure to Loss, On-Balance Sheet	0.0
Maximum Exposure to Loss, Off-Balance Sheet	0.0
Total maximum exposure to loss	$ 0.0

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of our derivative instruments) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	$ 102,768	$ 123,250
Gross Derivative Assets, Fair Value	4,131	4,825
Gross Derivative Liabilities, Notional Amount	82,913	64,429
Gross Derivative Liabilities, Fair Value	4,048	5,804
Derivative assets, Counterparty netting	(1,268)	(2,102)
Derivative assets, Cash collateral	(1,554)	(1,119)
Total derivative assets on consolidated balance sheet	1,309	1,604
Derivative liabilities, Counterparty netting	(1,268)	(2,102)
Derivative liabilities, Cash collateral	(760)	(1,429)
Total derivative liabilities on consolidated balance sheet	2,020	2,273
Equity contracts
Derivative [Line Items]
Gross Derivative Liabilities, Notional Amount	43,900	39,300
Bifurcated embedded derivatives
Derivative [Line Items]
Gross Derivative Liabilities, Fair Value	2,300	1,600
Derivatives designated as hedging instruments \| Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	301	155
Gross Derivative Assets, Fair Value	1	0
Gross Derivative Liabilities, Notional Amount	725	25
Gross Derivative Liabilities, Fair Value	2	2
Derivatives designated as hedging instruments \| Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	2,903	611
Gross Derivative Assets, Fair Value	207	25
Gross Derivative Liabilities, Notional Amount	914	1,794
Gross Derivative Liabilities, Fair Value	56	239
Derivatives designated as hedging instruments \| Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0	7
Gross Derivative Assets, Fair Value	0	1
Gross Derivative Liabilities, Notional Amount	121	104
Gross Derivative Liabilities, Fair Value	23	13
Derivatives not designated as hedging instruments
Derivative [Line Items]
Gross Derivative Liabilities, Notional Amount		2,500
Gross Derivative Liabilities, Fair Value		7
Derivatives not designated as hedging instruments \| Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	45,846	65,070
Gross Derivative Assets, Fair Value	3,161	3,743
Gross Derivative Liabilities, Notional Amount	65,733	45,104
Gross Derivative Liabilities, Fair Value	2,197	3,131
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	9,472	13,667
Gross Derivative Assets, Fair Value	559	815
Gross Derivative Liabilities, Notional Amount	8,900	8,516
Gross Derivative Liabilities, Fair Value	1,148	1,251
Derivatives not designated as hedging instruments \| Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	6,656	7,565
Gross Derivative Assets, Fair Value	177	206
Gross Derivative Liabilities, Notional Amount	5,028	3,049
Gross Derivative Liabilities, Fair Value	45	90
Derivatives not designated as hedging instruments \| Commodity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0	15
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	0	11
Gross Derivative Liabilities, Fair Value	0	6
Derivatives not designated as hedging instruments \| Credit contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	4	5
Gross Derivative Assets, Fair Value	3	4
Gross Derivative Liabilities, Notional Amount	1,289	5,288
Gross Derivative Liabilities, Fair Value	508	982
Derivatives not designated as hedging instruments \| Other contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	37,586	36,155
Gross Derivative Assets, Fair Value	23	31
Gross Derivative Liabilities, Notional Amount	203	538
Gross Derivative Liabilities, Fair Value	69	90
Derivatives not designated as hedging instruments \| Bifurcated embedded derivatives
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0	0
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	1,100	2,600
Gross Derivative Liabilities, Fair Value	$ 483	$ 947

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Derivative Liabilities, Notional Amount	$ 82,913	$ 64,429
Derivative Liabilities, Fair Value	4,048	5,804
Collateral
Collateral posted to third parties for derivative transactions	3,000	3,300
Collateral obtained from third parties for derivative transactions	$ 1,600	$ 1,300

DERIVATIVES AND HEDGE ACCOUNTING (Details - Additional Information) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Credit Derivatives [Line Items]
Collateral posted	$ 3,000	$ 3,300
Obligation to make payments on embedded credit derivatives	0
Fair value of hybrid securities	5,700	6,100
Par value of hybrid securities	11,200	12,300
Credit Risk Related Contingent Features [Member]
Credit Derivatives [Line Items]
Collateral posted	2,100	2,700
Aggregate fair value of net liability position	2,000	$ 2,500
Credit Risk Related Contingent Features [Member] \| Standard & Poor's, BBB Rating \| Moody's, Baa2 Rating
Credit Derivatives [Line Items]
Additional Collateral Aggregate Fair Value	44
Credit Risk Related Contingent Features [Member] \| Standard & Poor's, BBB- Rating \| Moody's, Baa3 Rating [Member]
Credit Derivatives [Line Items]
Additional Collateral Aggregate Fair Value	$ 95
Global Capital Markets (GCM) derivatives \| Super Senior CDS \| Arbitrage \| Multi-sector CDOs
Credit Derivatives [Line Items]
Derivative weighted average maturity	6 years

GOODWILL (Details) $ in Millions	12 Months Ended
GOODWILL (Details) $ in Millions	Dec. 31, 2015 USD ($) item	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Goodwill Disclosure
Number of steps involved in process of impairment test \| item	2
Reportable Segments
Goodwill
Goodwill - gross	$ 4,931	$ 4,952	$ 4,946
Accumulated impairments	3,477	3,477	3,477
Net goodwill	1,454	1,475	1,469
Increase (decrease) due to:
Acquisition	208	28
Other	(49)	(49)	6
Goodwill - gross	5,090	4,931	4,952
Accumulated impairments	3,477	3,477	3,477
Net goodwill	1,613	1,454	1,475
Reportable Segments \| Commercial
Goodwill
Goodwill - gross	2,401	2,450	2,444
Accumulated impairments	1,266	1,266	1,266
Net goodwill	1,135	1,184	1,178
Increase (decrease) due to:
Acquisition	96	0
Other	(50)	(49)	6
Goodwill - gross	2,447	2,401	2,450
Accumulated impairments	1,266	1,266	1,266
Net goodwill	1,181	1,135	1,184
Reportable Segments \| Consumer
Goodwill
Goodwill - gross	2,530	2,502	2,502
Accumulated impairments	2,211	2,211	2,211
Net goodwill	319	291	291
Increase (decrease) due to:
Acquisition	82	28
Other	1	0	0
Goodwill - gross	2,613	2,530	2,502
Accumulated impairments	2,211	2,211	2,211
Net goodwill	402	319	291
Other
Goodwill
Goodwill - gross	0	0	0
Accumulated impairments	0	0	0
Net goodwill	0	0	0
Increase (decrease) due to:
Acquisition	30	0
Other	0	0	0
Goodwill - gross	30	0	0
Accumulated impairments	0	0	0
Net goodwill	$ 30	$ 0	$ 0

INSURANCE LIABILITIES (Details - Liability for Unpaid Losses and Loss Adjustment Expenses - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS
Gross loss reserves before reinsurance and discount, net of contractual deductible recoverable amounts due from policyholders								$ 12,600	$ 12,400
Collateral held for deductible recoverable amounts								9,600	9,400
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense:
Liability for unpaid claims and claims adjustment expense, balance at the beginning of the year				$ 77,260	$ 77,260	$ 81,547	$ 87,991
Reinsurance recoverable, balance at the beginning of the year				(15,648)	(15,648)	(17,231)	(19,209)
Liability for unpaid claims and claims adjustment expense, Net of Reinsurance				61,612	61,612	64,316	68,782
Foreign exchange effect					(1,429)	(1,061)	(617)
Dispositions					0	0	(79)
Changes in net loss reserves due to retroactive asbestos reinsurance transaction								20	141	$ 22
Total								60,203	63,396	68,108
Losses and loss expenses incurred
Current year					20,308	21,279	22,171
Prior years, other than accretion of discount	$ 3,587	$ 191	$ 317	24	4,119	703	557
Prior years, accretion of discount					(71)	478	(309)
Total					24,356	22,460	22,419
Losses and loss expenses paid
Current year					5,751	6,358	7,431
Prior years					18,205	17,886	18,780
Total					23,956	24,244	26,211
Net liability for unpaid claims and claims adjustment expense, balance at the end of the year	60,603				60,603	61,612	64,316
Reinsurance recoverable, balance at the end of the year	14,339				14,339	15,648	17,231
Total, balance at the end of the year	74,942				74,942	77,260	81,547
Net Liability for unpaid loss and loss adjustment expenses	60,603			61,612	61,612	64,316	68,782	60,603	61,612	64,316
Loss sensitive premium adjustment					(49)	105	89
NICO [Member]
Losses and loss expenses paid
Net of reinsurance amount reflecting cession								1,800	1,500	$ 1,600
Aggregate Limit, retroactive reinsurance agreement								3,500
Reinsurance, additional recoveries					233		72
Excess Casualty
Losses and loss expenses incurred
Prior years, other than accretion of discount					1,500		(144)
Financial Lines - U.S. and Canada
Losses and loss expenses incurred
Prior years, other than accretion of discount					579
Financial Lines - International
Losses and loss expenses incurred
Prior years, other than accretion of discount						182
Primary casualty
Losses and loss expenses incurred
Prior years, other than accretion of discount					1,100	550	498
Workers Compensation Policies, Risk sharing features
Losses and loss expenses incurred
Prior years, other than accretion of discount					540
Primary General Liability
Losses and loss expenses incurred
Prior years, other than accretion of discount					146
Primary Auto Liability
Losses and loss expenses incurred
Prior years, other than accretion of discount					144
Workers Compensation coverage sold to government
Losses and loss expenses incurred
Prior years, other than accretion of discount					100
Claims Handling
Losses and loss expenses incurred
Prior years, other than accretion of discount					100
Healthcare
Losses and loss expenses incurred
Prior years, other than accretion of discount						109	(54)
Run-off Insurance Lines
Losses and loss expenses incurred
Prior years, other than accretion of discount					727
Other Runoff
Losses and loss expenses incurred
Prior years, other than accretion of discount					272
Asbestos and Environmental (1986 & Prior)
Losses and loss expenses incurred
Prior years, other than accretion of discount					281	124	$ 238
Asbestos
Losses and loss expenses incurred
Prior years, other than accretion of discount					164
Environmental
Losses and loss expenses incurred
Prior years, other than accretion of discount					117
Natural Catastrophes
Losses and loss expenses incurred
Prior years, other than accretion of discount						(102)
Asbestos and Environmental
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense:
Liability for unpaid claims and claims adjustment expense, Net of Reinsurance				573	573
Losses and loss expenses paid
Net liability for unpaid claims and claims adjustment expense, balance at the end of the year	722				722	573
Net Liability for unpaid loss and loss adjustment expenses	$ 722			$ 573	$ 573	$ 573		$ 722	$ 573

INSURANCE LIABILITIES (Details - Discounting of Reserves) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2015 USD ($)
Discounting of Reserves [Line Items]
Net loss reserve discount	$ 3,100	$ 3,100
Tabular discount rate		3.50%
Property Casualty
Discounting of Reserves [Line Items]
Discount for workers' compensation	853	$ 853
Discount for workers' compensation	2,300	2,300
Discount for asbestos	$ 7	$ 7
New York
Discounting of Reserves [Line Items]
Discount rate	5.00%

INSURANCE LIABILITIES (Details - Future Policy Benefits) - Life	12 Months Ended
	Dec. 31, 2015
Assumptions for liability for future life policy benefits
Interest rates (exclusive of immediate/terminal funding annuities), low end of range (as a percent)	3.00%
Interest rates (exclusive of immediate/terminal funding annuities), high end of range (as a percent)	14.00%

INSURANCE LIABILITIES (Details - Policyholder contract deposits) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Policyholder Contract Deposits [Line Items]
Total policyholder contract deposits	$ 127,588	$ 124,613
Assumptions for liability for policyholder contract deposits
Interest rates credited on deferred annuities, low end of range (as a percent)	0.20%
Interest rates credited on deferred annuities, high end of range (as a percent)	9.00%
Life
Policyholder Contract Deposits [Line Items]
Total policyholder contract deposits	$ 14,028	13,717
Assumptions for liability for policyholder contract deposits
Percentage of gross insurance in force	2.20%
Percentage of gross premiums and other consideration	2.40%
Fixed Annuities
Policyholder Contract Deposits [Line Items]
Total policyholder contract deposits	$ 52,397	53,370
Retirement Income Solutions
Policyholder Contract Deposits [Line Items]
Total policyholder contract deposits	13,927	10,040
Group Retirement
Policyholder Contract Deposits [Line Items]
Total policyholder contract deposits	37,865	37,693
Institutional Markets
Policyholder Contract Deposits [Line Items]
Total policyholder contract deposits	$ 9,371	$ 9,793

VARIABLE LIFE AND ANNUITY CONTRACTS (Details - Annuity contracts with guarantees were invested in separate account investment options) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Account balances of variable annuity contract, Total	$ 72,220	$ 71,528
Equity Funds
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Account balances of variable annuity contract, Total	39,284	40,811
Bonds Funds
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Account balances of variable annuity contract, Total	7,261	7,566
Balanced Funds
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Account balances of variable annuity contract, Total	24,849	22,354
Money Market Funds
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Account balances of variable annuity contract, Total	$ 826	$ 797

VARIABLE LIFE AND ANNUITY CONTRACTS (Details - GMDB, GMIB, GMWB and GMAV) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assumptions and methodology used to determine the GMDB liability
Fair value of embedded derivatives, liability	$ 4,048	$ 5,804
Embedded derivatives
Assumptions and methodology used to determine the GMDB liability
Fair value of embedded derivatives, liability	2,300	1,600
Guaranteed minimum death benefits (GMDB) and Guaranteed minimum income benefits (GMIB)
Changes in GMDB and GMIB liabilities for guarantees on variable contracts reflected in the general account
Balance at the beginning of the period	420	394	$ 413
Reserve increase	127	93	32
Benefits paid	(56)	(67)	(51)
Balance at the end of the period	491	420	$ 394
Guaranteed minimum account value benefits (GMAB) and Guaranteed minimum withdrawal benefits (GMWB)
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Account value	38,000	35,000
Net amount at risk	640	414
Guaranteed minimum account value benefits (GMAB) and Guaranteed minimum withdrawal benefits (GMWB) \| Embedded derivatives
Assumptions and methodology used to determine the GMDB liability
Fair value of embedded derivatives, liability	1,200	957
Variable contract, net deposits plus a minimum return \| Guaranteed minimum death benefits (GMDB)
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Account value	87	85
Net amount at risk	$ 2	$ 1
Average attained age of contract holders by product	63 years	62 years
Variable contract, net deposits plus a minimum return \| Guaranteed minimum death benefits (GMDB) \| Minimum
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Range of guaranteed minimum return rates (as a percent)	0.00%	0.00%
Variable annuity contract, highest contract value attained \| Guaranteed minimum death benefits (GMDB)
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Account value	$ 16	$ 17
Net amount at risk	$ 1	$ 1
Average attained age of contract holders by product	69 years	68 years
Variable annuity contract, highest contract value attained \| Guaranteed minimum death benefits (GMDB) \| Maximum
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Range of guaranteed minimum return rates (as a percent)	4.50%	5.00%

DEBT (Details - Total debt outstanding) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Interest rate (as a percent)		6.50%
Balance at the end of the period	$ 29,350		$ 31,217
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	29,350		31,217
2016	1,619
2017	1,171
2018	2,039
2019	1,195
2020	1,386
Thereafter	16,953
Borrowings of consolidated investments	5,000
Long-term debt excluding borrowings of consolidated investments	24,363
Uncollateralized and collateralized notes, bonds, loans and mortgages payable	108
Collateral posted	3,000		3,300
Uncollateralized Notes/Bonds/Loans Payable
Debt Instrument [Line Items]
Balance at the end of the period	0
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	0
Collateralized Loans and Mortgages Payable
Debt Instrument [Line Items]
Balance at the end of the period	108
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	108
AIGLH
Debt Instrument [Line Items]
Balance at the end of the period	706		820
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	706		820
AIG
Debt Instrument [Line Items]
Balance at the end of the period	19,876		21,190
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	19,876		21,190
AIG \| Series AIGFP
Debt Instrument [Line Items]
Balance at the end of the period	31		33
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	31		33
AIG \| MIP
Debt Instrument [Line Items]
Balance at the end of the period	1,372		2,870
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	1,372		2,870
Other Subsidiaries
Debt Instrument [Line Items]
Balance at the end of the period	8,768		9,207
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	8,768		9,207
Notes and bonds payable \| AIG
Debt Instrument [Line Items]
Balance at the end of the period	17,136		15,821
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	17,136		15,821
Junior subordinated debt \| AIG
Debt Instrument [Line Items]
Balance at the end of the period	1,337		2,466
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	$ 1,337		2,466
Other subsidiaries notes, bonds, loans and mortgages payable
Debt Instrument [Line Items]
Interest rates, high end of range (as a percent)	0.00%
Interest rate (as a percent)	0.06%
Balance at the end of the period	$ 2
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	2
2016	0
2017	2
2018	0
2019	0
2020	0
Thereafter	$ 0
Debt Instrument, Maturity, End Year	2017
Other subsidiaries notes, bonds, loans and mortgages payable \| Other Subsidiaries
Maturities of long-term debt, excluding borrowings of consolidated investments
Uncollateralized and collateralized notes, bonds, loans and mortgages payable	$ 2
Other subsidiaries notes, bonds, loans and mortgages payable \| Other Subsidiaries \| Uncollateralized Notes/Bonds/Loans Payable
Debt Instrument [Line Items]
Balance at the end of the period	0
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	0
Other subsidiaries notes, bonds, loans and mortgages payable \| Other Subsidiaries \| Collateralized Loans and Mortgages Payable
Debt Instrument [Line Items]
Balance at the end of the period	2
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	2
Debt issued or guaranteed
Debt Instrument [Line Items]
Balance at the end of the period	24,361		27,476
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	24,361		27,476
2016	1,619
2017	1,169
2018	2,039
2019	1,195
2020	1,386
Thereafter	16,953
Uncollateralized Notes/Bonds/Loans Payable
Debt Instrument [Line Items]
Balance at the end of the period	19,285		19,106
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	19,285		19,106
2016	992
2017	192
2018	1,106
2019	1,105
2020	1,345
Thereafter	14,545
Uncollateralized Notes/Bonds/Loans Payable \| AIG
Maturities of long-term debt, excluding borrowings of consolidated investments
Uncollateralized and collateralized notes, bonds, loans and mortgages payable	106
Uncollateralized Notes/Bonds/Loans Payable \| AIG \| Uncollateralized Notes/Bonds/Loans Payable
Debt Instrument [Line Items]
Balance at the end of the period	0
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	0
Uncollateralized Notes/Bonds/Loans Payable \| AIG \| Collateralized Loans and Mortgages Payable
Debt Instrument [Line Items]
Balance at the end of the period	106
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	$ 106
Uncollateralized Notes/Bonds/Loans Payable \| Notes and bonds payable
Debt Instrument [Line Items]
Interest rates, low end of range (as a percent)	2.30%
Interest rates, high end of range (as a percent)	8.13%
Balance at the end of the period	$ 17,136		15,570
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	17,136		15,570
2016	992
2017	192
2018	1,106
2019	999
2020	1,345
Thereafter	$ 12,502
Debt Instrument, Maturity, Start year	2016
Debt Instrument, Maturity, End Year	2097
Uncollateralized Notes/Bonds/Loans Payable \| Notes and bonds payable \| AIGLH
Debt Instrument [Line Items]
Interest rates, low end of range (as a percent)	6.63%
Interest rates, high end of range (as a percent)	7.50%
Balance at the end of the period	$ 284		284
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	284		284
Thereafter	$ 284
Debt Instrument, Maturity, Start year	2025
Debt Instrument, Maturity, End Year	2029
Uncollateralized Notes/Bonds/Loans Payable \| Subordinated debt
Debt Instrument [Line Items]
Interest rate (as a percent)	2.38%
Balance at the end of the period	$ 0		250
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	0		250
2016	0
2017	$ 0
Debt Instrument, Maturity, End Year	2015
Uncollateralized Notes/Bonds/Loans Payable \| Junior subordinated debt
Debt Instrument [Line Items]
Interest rates, low end of range (as a percent)	4.88%
Interest rates, high end of range (as a percent)	8.63%
Balance at the end of the period	$ 1,337		2,466
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	1,337		2,466
Thereafter	$ 1,337
Debt Instrument, Maturity, Start year	2037
Debt Instrument, Maturity, End Year	2058
Uncollateralized Notes/Bonds/Loans Payable \| Junior subordinated debt \| AIGLH
Debt Instrument [Line Items]
Interest rates, low end of range (as a percent)	7.57%
Interest rates, high end of range (as a percent)	8.50%
Balance at the end of the period	$ 422		536
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	422		536
Thereafter	$ 422
Debt Instrument, Maturity, Start year	2030
Debt Instrument, Maturity, End Year	2046
Uncollateralized Notes/Bonds/Loans Payable \| AIG Japan Holdings Kabushiki Kaisha
Debt Instrument [Line Items]
Interest rates, low end of range (as a percent)	0.44%
Interest rates, high end of range (as a percent)	1.25%
Balance at the end of the period	$ 106		0
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	106		0
2019	$ 106
Debt Instrument, Maturity, Start year	2016
Debt Instrument, Maturity, End Year	2019
Borrowings supported by assets
Debt Instrument [Line Items]
Balance at the end of the period	$ 5,076		8,370
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	5,076		8,370
2016	627
2017	977
2018	933
2019	90
2020	41
Thereafter	2,408
Collateral posted	$ 2,400		3,500
Borrowings supported by assets \| Notes and bonds payable
Debt Instrument [Line Items]
Interest rates, low end of range (as a percent)	0.12%
Interest rates, high end of range (as a percent)	10.37%
Balance at the end of the period	$ 394		818
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	394		818
2016	192
2017	10
2018	123
2019	0
2020	0
Thereafter	$ 69
Debt Instrument, Maturity, Start year	2016
Debt Instrument, Maturity, End Year	2047
Borrowings supported by assets \| Notes and bonds payable \| Series AIGFP
Debt Instrument [Line Items]
Interest rates, low end of range (as a percent)	0.16%
Interest rates, high end of range (as a percent)	7.50%
Balance at the end of the period	$ 34		34
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	34		34
2016	0
2017	10
2018	0
2019	0
2020	0
Thereafter	$ 24
Debt Instrument, Maturity, Start year	2017
Debt Instrument, Maturity, End Year	2047
Borrowings supported by assets \| MIP notes payable
Debt Instrument [Line Items]
Interest rates, low end of range (as a percent)	2.28%
Interest rates, high end of range (as a percent)	8.59%
Balance at the end of the period	$ 1,372		2,870
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	1,372		2,870
2016	245
2017	781
2018	346
2019	0
2020	0
Thereafter	$ 0
Debt Instrument, Maturity, Start year	2016
Debt Instrument, Maturity, End Year	2018
Borrowings supported by assets \| GIAs
Debt Instrument [Line Items]
Interest rates, low end of range (as a percent)	0.02%
Interest rates, high end of range (as a percent)	7.62%
Balance at the end of the period	$ 3,276		4,648
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	3,276		4,648
2016	190
2017	176
2018	464
2019	90
2020	41
Thereafter	$ 2,315
Debt Instrument, Maturity, Start year	2016
Debt Instrument, Maturity, End Year	2047
Debt not guaranteed
Debt Instrument [Line Items]
Balance at the end of the period	$ 4,989		3,741
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	4,989		3,741
Debt not guaranteed \| Other subsidiaries notes, bonds, loans and mortgages payable
Debt Instrument [Line Items]
Balance at the end of the period	2		58
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	$ 2		58
Debt not guaranteed \| Debt of consolidated investments
Debt Instrument [Line Items]
Interest rates, low end of range (as a percent)	0.00%
Interest rates, high end of range (as a percent)	6.60%
Balance at the end of the period	$ 4,987		3,683
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	$ 4,987		3,683
Debt Instrument, Maturity, Start year	2016
Debt Instrument, Maturity, End Year	2062
Debt not guaranteed \| Debt of consolidated investments \| Real Estate and Investment Funds [Member]
Debt Instrument [Line Items]
Balance at the end of the period	$ 2,400		2,100
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	2,400		2,100
Debt not guaranteed \| Debt of consolidated investments \| Affordable Housing Partnership [Member]
Debt Instrument [Line Items]
Balance at the end of the period	2,200		853
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	2,200		853
Debt not guaranteed \| Debt of consolidated investments \| Other
Debt Instrument [Line Items]
Balance at the end of the period	359		728
Maturities of long-term debt, excluding borrowings of consolidated investments
Total	$ 359		$ 728

DEBT (Details - Junior subordinated debentures) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2015
Debt Instrument [Line Items]
Interest rate (as a percent)				6.50%
Aggregate principal amount of debt redeemed	$ 9,805	$ 16,160	$ 14,197
Series A-2 and Series A-8 Junior Subordinated Debentures
Debt Instrument [Line Items]
Interest rate (as a percent)	5.75%
Series A-3 Junior Subordinated Debentures
Debt Instrument [Line Items]
Interest rate (as a percent)	4.875%
Series A-6 Junior Subordinated Debentures
Debt Instrument [Line Items]
Interest rate (as a percent)	8.175%
Aggregate principal amount of debt redeemed	$ 588
Subordinated Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	2.375%
Period prior to the date of repayment, redemption or purchase within which a specified amount of net cash proceeds is to be received	360 days

DEBT (Details - AIGLH Junior subordinated debentures) - USD ($) $ in Millions	Jun. 30, 2015	Jul. 11, 2013
Debt Instrument [Line Items]
Interest rate (as a percent)	6.50%
Borrowings supported by assets \| 8.5 percent Junior subordinated debentures due July 2030 \| AIGLH
Debt Instrument [Line Items]
Junior subordinated debentures liquidation value		$ 116
Borrowings supported by assets \| 8.125 percent Junior subordinated debentures due March 2046 \| AIGLH
Debt Instrument [Line Items]
Junior subordinated debentures liquidation value		227
Borrowings supported by assets \| 7.57 percent Junior subordinated debentures due December 2045 \| AIGLH
Debt Instrument [Line Items]
Junior subordinated debentures liquidation value		$ 79

DEBT (Details - Credit facilities) $ in Millions	12 Months Ended
DEBT (Details - Credit facilities) $ in Millions	Dec. 31, 2015 USD ($)
Schedule of Debt Instruments [Line Items]
Letter of credit outstanding	$ 208
Contingent liquidity facility	$ 500
5-Year Syndicated Facility
Schedule of Debt Instruments [Line Items]
Line of credit facilities, term of credit agreements	5 years
Maximum borrowing capacity	$ 4,500
Remaining borrowing capacity	4,500
Increased commitment to Five-Year Facility	$ 500
Debt Instrument, Maturity Date	November 2020
Debt Instrument Effective Date	Nov. 05, 2015

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) $ in Millions										1 Months Ended	3 Months Ended	8 Months Ended	12 Months Ended
	Feb. 12, 2015 complaint	Jan. 06, 2015 USD ($)	Oct. 22, 2014 USD ($)	Nov. 15, 2013 item	Mar. 11, 2013 class	Nov. 29, 2012 USD ($) item	Nov. 21, 2011	Dec. 17, 2010 USD ($) item	Feb. 25, 2010 individual	Feb. 29, 2016 USD ($)	Mar. 31, 2014 complaint	Jan. 15, 2009 complaint	Dec. 31, 2015 USD ($) complaint multiple	Dec. 31, 2014 USD ($)
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed \| complaint													2
Number of funds that are plaintiffs in similar actions \| complaint	11
Number of states participating in the accident and health products examination \| item								50
Civil penalty payable								$ 100.0
Number of actions brought against AIG \| complaint													9
Increase in the estimated reserves for incurred but not reported death claims													$ 25.0	$ 507.0
Portion of payments which represented fines and penalties								46.5
Payment released workers compensation escrow accounts in satisfaction of fines, penalties and premium tax obligations								$ 150.0
Number of cases that have been settled \| complaint													7
Chartis U.S.
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Settlement agreement, number of jurisdictions \| item						50
Civil penalty paid						$ 50.0
Consolidated 2008 Securities Litigation
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed \| complaint												8
Payment for legal settlement			$ 960.0
ERISA Litigation II
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Cash settlement Amount		$ 40.0
Starr International Litigation
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed \| class					2
Percentage of ownership in AIG received by Department of the Treasury							80.00%
Number of shareholders who have submitted timely and valid requests to opt into the class \| item				286,908
Cash settlement Amount		$ 40.0
False Claims Act complaint
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of individuals (Relators) seeking to assert claims \| individual									2
Damages sought, multiple of damages sustained \| multiple													3
Caremark
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed \| complaint											2
Damages claimed										$ 1,100.0			$ 3,200.0
Subpoenas from the New York Department of Financial Services (NYDFS) \| MetLife Inc. (MetLife)
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Cash settlement Amount													50.0
Subpoenas from the Manhattan District Attorney's Office (NYDA) \| MetLife Inc. (MetLife)
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Cash settlement Amount													$ 10.0

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Long term purchase commitments) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Future minimum lease payments under operating leases
2016	$ 304
2017	234
2018	168
2019	126
2020	93
Remaining years after 2020	210
Total	1,135
Rent expense	327	$ 471	$ 414
Other Commitments
Other Commitments	2,600
Held for sale
Future minimum lease payments under operating leases
Rent expense	$ 0	$ 0	$ 0

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
Guarantor Obligations [Line Items]
Amount outstanding under standby letters of credit at end of period	$ 208
ALICO
Guarantor Obligations [Line Items]
Payments made or placed in escrow accounts at end of period	0
Indemnifications \| ALICO
Guarantor Obligations [Line Items]
Various deductible amounts under indemnifications	$ 0

EQUITY (Details - Shares Outstanding) - shares	12 Months Ended
EQUITY (Details - Shares Outstanding) - shares	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
The following table presents a roll forward of outstanding shares:
Shares, beginning of year	(530,744,521)
Shares, beginning of year	1,906,671,492
Shares, beginning of year	1,375,926,971	1,464,063,323	1,476,321,935
Issuances (in shares)	371,806	41,551	58,787
Shares repurchased	(182,382,160)	(88,177,903)	(12,317,399)
Shares, end of period	(712,754,875)	(530,744,521)
Shares, end of period	1,906,671,492	1,906,671,492
Shares, end of period	1,193,916,617	1,375,926,971	1,464,063,323
Common Stock Issued
The following table presents a roll forward of outstanding shares:
Shares, beginning of year	1,906,671,492	1,906,645,689	1,906,611,680
Issuances (in shares)	0	25,803	34,009
Shares repurchased	(182,000,000)
Shares, end of period	1,906,671,492	1,906,671,492	1,906,645,689
Treasury Stock
The following table presents a roll forward of outstanding shares:
Shares, beginning of year	530,744,521	442,582,366	430,289,745
Issuances (in shares)	371,806	(15,748)	(24,778)
Shares repurchased	(182,382,160)	(88,177,903)	(12,317,399)
Shares, end of period	712,754,875	530,744,521	442,582,366

EQUITY (Details - Share repurchases) - USD ($) $ / shares in Units, shares in Millions, $ in Millions					1 Months Ended	12 Months Ended
	Dec. 21, 2015	Sep. 28, 2015	Jun. 25, 2015	Mar. 26, 2015	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 16, 2015
Rollforward of preferred stock
Dividend paid (in dollars per share)	$ 0.28	$ 0.28	$ 0.125	$ 0.125
Common stock authorized to be repurchased						$ 3,300			$ 4,100
Accelerated Share Repurchase Agreement [Member]
Rollforward of preferred stock
Amount paid to financial institution							$ 3,100
Common Stock
Rollforward of preferred stock
Aggregate purchase price of repurchased shares						$ 10,700	$ 4,900	$ 597
Common Stock \| Accelerated Share Repurchase Agreement [Member]
Rollforward of preferred stock
Percentage of share repurchased during share repurchase agreement							70.00%
Number of shares received from financial institution							53.0
Partial receipt of shares under an ASR agreement						9.2
Additional shares received from financial institution					3,500.0

EQUITY (Details - Rollforward of Accumulated other comprehensive income) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	$ 10,617
Deferred tax asset (liability)	1,553	$ (93)	$ 3,251
Other Comprehensive Income (Loss)	(8,086)	4,257	(6,237)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	(1,100)	(832)	(556)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges	0	0	0
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment	(123)	556	(631)
Balance, end of period, net of tax	2,537	10,617
Accumulated Other Comprehensive Income
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	10,617	6,360	12,574
Change in unrealized appreciation (depreciation) of investments	(11,007)	7,720	(13,605)
Change in deferred acquisition costs adjustment and other	1,119	(427)	873
Change in future policy benefits	1,204	(1,246)	2,737
Changes in foreign currency translation adjustments	(1,129)	(833)	(454)
Net actuarial gain (loss)	413	(815)	1,012
Prior service (cost) credit	(239)	(49)	(51)
Deferred tax asset (liability)	1,553	(93)	3,251
Other Comprehensive Income (Loss)	(8,086)	4,257	(6,237)
Noncontrolling interests	(6)	0	(23)
Balance, end of period, net of tax	2,537	10,617	6,360
Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than-Temporary Credit Impairments Were Recognized
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	1,043	936	575
Change in unrealized appreciation (depreciation) of investments	(488)	156	464
Change in deferred acquisition costs adjustment and other	(146)	68	(127)
Change in future policy benefits	92	(133)	79
Deferred tax asset (liability)	195	16	(55)
Other Comprehensive Income (Loss)	(347)	107	361
Balance, end of period, net of tax	696	1,043	936
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	13,446
Change in unrealized appreciation (depreciation) of investments	(10,519)	7,564	(14,069)
Change in deferred acquisition costs adjustment and other	1,265	(495)	1,000
Change in future policy benefits	1,112	(1,113)	2,658
Deferred tax asset (liability)	1,380	(418)	3,738
Other Comprehensive Income (Loss)	(6,762)	5,538	(6,673)
Noncontrolling interests	(1)		(16)
Balance, end of period, net of tax	5,566	12,327	6,789
Foreign Currency Translation Adjustments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	(1,784)	(952)	(403)
Changes in foreign currency translation adjustments	(1,129)	(833)	(454)
Deferred tax asset (liability)	29	1	(102)
Other Comprehensive Income (Loss)	(1,100)	(832)	(556)
Noncontrolling interests	(5)		(7)
Balance, end of period, net of tax	(2,879)	(1,784)	(952)
Retirement Plan Liabilities Adjustment
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	(969)	(413)	(1,044)
Net actuarial gain (loss)	413	(815)	1,012
Prior service (cost) credit	(239)	(49)	(51)
Deferred tax asset (liability)	(51)	308	(330)
Other Comprehensive Income (Loss)	123	(556)	631
Balance, end of period, net of tax	$ (846)	$ (969)	$ (413)

EQUITY (Details - Other comprehensive income reclassification adjustments) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	$ (8,383)	$ 4,908	$ (8,652)
Less: Reclassification adjustments included in net income	1,256	558	836
Total other comprehensive income (loss), before income tax expense (benefit)	(9,639)	4,350	(9,488)
Less: Income tax expense (benefit)	(1,553)	93	(3,251)
Other comprehensive income (loss)	(8,086)	4,257	(6,237)
Unrealized Appreciation (Depreciation) of Fixed Maturity Investments on Which Other-Than-Temporary Credit Impairments Were Recognized
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(471)	119	507
Less: Reclassification adjustments included in net income	71	28	91
Total other comprehensive income (loss), before income tax expense (benefit)	(542)	91	416
Less: Income tax expense (benefit)	(195)	(16)	55
Other comprehensive income (loss)	(347)	107	361
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(7,068)	6,488	(9,556)
Less: Reclassification adjustments included in net income	1,074	532	855
Total other comprehensive income (loss), before income tax expense (benefit)	(8,142)	5,956	(10,411)
Less: Income tax expense (benefit)	(1,380)	418	(3,738)
Other comprehensive income (loss)	(6,762)	5,538	(6,673)
Accumulated Translation Adjustment [Member]
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(1,129)	(833)	(454)
Less: Reclassification adjustments included in net income	0	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	(1,129)	(833)	(454)
Less: Income tax expense (benefit)	(29)	(1)	102
Other comprehensive income (loss)	(1,100)	(832)	(556)
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	285	(866)	851
Less: Reclassification adjustments included in net income	111	(2)	(110)
Total other comprehensive income (loss), before income tax expense (benefit)	174	(864)	961
Less: Income tax expense (benefit)	51	(308)	330
Other comprehensive income (loss)	$ 123	$ (556)	$ 631

EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains									$ 1,367	$ 956	$ 2,126
Amortization of deferred acquisition costs									5,236	5,330	5,157
Policyholder benefits and losses incurred									31,345	28,281	29,503
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax									1,256	558	836
Income from continuing operations before income tax expense (benefit)	$ (2,932)	$ (115)	$ 2,552	$ 3,776	$ 729	$ 3,019	$ 4,480	$ 2,273	3,281	10,501	9,368
Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income from continuing operations before income tax expense (benefit)									1,256	558	836
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax									71	28	91
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains									(71)	(28)	(91)
Income from continuing operations before income tax expense (benefit)									71	28	91
Unrealized appreciation (depreciation) of all other investments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax									1,074	532	855
Unrealized appreciation (depreciation) of all other investments \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains									(1,054)	(669)	(2,452)
Amortization of deferred acquisition costs									3	(20)	(28)
Policyholder benefits and losses incurred									17	(117)	(1,569)
Income from continuing operations before income tax expense (benefit)									1,074	532	855
Change in retirement plan liabilities adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax									111	(2)	(110)
Change in retirement plan liabilities adjustment \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax									111	(2)	(110)
Accumulated Defined Benefit Plans Adjustment Net Prior Service Cost Credit [Member] \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax									214	47	47
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax									$ (103)	$ (49)	$ (157)

EARNINGS PER SHARE (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Numerator for EPS:
Income from continuing operations									$ 2,222	$ 7,574	$ 9,008
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	$ (8)	$ 34	$ (9)	$ 9	$ 20	$ 9	$ (37)	$ 3	26	(5)	7
Net income (loss) attributable to AIG from continuing operations									2,196	7,579	9,001
Income (loss) from discontinued operations	$ 0	$ (17)	$ 16	$ 1	$ (35)	$ 2	$ 30	$ (47)	0	(50)	84
Net income attributable to AIG common shareholders									$ 2,196	$ 7,529	$ 9,085
Denominator for EPS:
Weighted average shares outstanding - basic	1,226,880,632	1,279,072,748	1,329,157,366	1,365,951,690	1,391,790,420	1,419,239,774	1,442,397,111	1,459,249,393	1,299,825,350	1,427,959,799	1,474,171,690
Dilutive shares									34,639,533	19,593,853	7,035,107
Weighted average shares outstanding - diluted	1,226,880,632	1,279,072,748	1,365,390,431	1,386,263,549	1,412,162,456	1,442,067,842	1,464,676,330	1,472,510,813	1,334,464,883	1,447,553,652	1,481,206,797
Basic:
Income from continuing operations	$ (1.5)	$ (0.17)	$ 1.34	$ 1.81	$ 0.5	$ 1.54	$ 2.11	$ 1.13	$ 1.69	$ 5.31	$ 6.11
Income (loss) from discontinued operations	0	(0.01)	0.01	0	(0.03)	0	0.02	(0.03)	0	(0.04)	0.05
Net income attributable to AIG									1.69	5.27	6.16
Diluted:
Income from continuing operations	(1.5)	(0.17)	1.31	1.78	0.49	1.52	2.08	1.12	1.65	5.24	6.08
Income (loss) from discontinued operations	$ 0	$ (0.01)	$ 0.01	$ 0	$ (0.03)	$ 0	$ 0.02	$ (0.03)	0	(0.04)	0.05
Net Income attributable to AIG									$ 1.65	$ 5.2	$ 6.13
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive									200,000	300,000	38,000,000

STATUTORY FINANCIAL DATA AND RESTRICTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statutory capital and surplus and net income (loss)
Increase (decrease) in the previously reported amount of statutory net income as a result of the finalization of statutory filings		$ 115.0
Increase (decrease) in the previously reported amount of statutory surplus as a result of the finalization of statutory filings		303.0
Subsidiary Dividend Restrictions
Statutory capital and surplus of consolidated insurance subsidiaries companies restricted from transfer to parent	$ 41,600.0
Eaglestone
Statutory capital and surplus and net income (loss)
Statutory net income	22.8
Statutory capital and surplus	1,900.0
Aggregate minimum required statutory capital and surplus	274.0
Statutory surplus and net income (loss)
Capital Contribution To Affiliates	$ 150.0
New York
Subsidiary Dividend Restrictions
Dividend restrictions, as percentage of statutory policyholders' surplus	10.00%
Dividend restrictions, as percentage of adjusted net investment income, as defined	100.00%
Non-life insurance companies
Statutory capital and surplus and net income (loss)
Statutory net income	$ 1,723.0	4,517.0	$ 12,282.0
Statutory capital and surplus	35,823.0	39,804.0	0.0
Aggregate minimum required statutory capital and surplus	14,047.0	15,750.0	0.0
Statutory gains related to legal simplification	0.0	0.0	8,000.0
Statutory surplus and net income (loss)
Capital Contribution To Affiliates	2,750.0
Non-life insurance companies \| Domestic
Statutory capital and surplus and net income (loss)
Statutory net income	1,202.0	3,265.0	11,440.0
Statutory capital and surplus	24,358.0	27,621.0	0.0
Aggregate minimum required statutory capital and surplus	6,493.0	7,540.0	0.0
Non-life insurance companies \| Foreign
Statutory capital and surplus and net income (loss)
Statutory net income	521.0	1,252.0	842.0
Statutory capital and surplus	11,465.0	12,183.0	0.0
Aggregate minimum required statutory capital and surplus	7,554.0	8,210.0	0.0
Life insurance companies
Statutory capital and surplus and net income (loss)
Statutory net income	2,656.0	2,856.0	5,038.0
Statutory capital and surplus	8,709.0	10,316.0	0.0
Aggregate minimum required statutory capital and surplus	3,703.0	3,720.0	0.0
Statutory surplus and net income (loss)
Permitted practice	366.0
Life insurance companies \| Domestic
Statutory capital and surplus and net income (loss)
Statutory net income	2,672.0	2,865.0	5,047.0
Statutory capital and surplus	8,287.0	9,879.0	0.0
Aggregate minimum required statutory capital and surplus	3,658.0	3,674.0	0.0
Life insurance companies \| Foreign
Statutory capital and surplus and net income (loss)
Statutory net income	(16.0)	(9.0)	(9.0)
Statutory capital and surplus	422.0	437.0	0.0
Aggregate minimum required statutory capital and surplus	$ 45.0	$ 46.0	$ 0.0

SHARE-BASED AND OTHER COMPENSATION PLANS (Details - Share based compensation expense) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SHARE-BASED AND OTHER COMPENSATION PLANS
Share-based compensation expense - pre-tax	$ 365	$ 349	$ 457
Share-based compensation expense - after tax	237	227	297
Pre tax share-based compensation expense attributed to unsettled liability-classified awards	$ 19	$ 86	$ 315
Share price (in dollars per share)	$ 61.97	$ 56.01	$ 51.05
Vested stock-settled awards issued to retirement eligible employees	$ 147	$ 120	$ 101

SHARE-BASED AND OTHER COMPENSATION PLANS (Details - Employee Plans, Share-settled Awards - assumptions used to estimate the fair value of PSUs) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) item shares	Dec. 31, 2014 USD ($) shares	Dec. 31, 2013 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense \| $	$ 365.0	$ 349.0	$ 457.0
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weight used to calculate performance measure (as a percent)	75.00%	25.00%	50.00%
Assumptions used to estimate the fair value of PSUs based on AIG's TSR
Expected dividend yield (as a percent)	1.78%	1.13%	0.38%
Expected volatility (as a percent)	22.71%	23.66%	30.79%
Risk-free interest rate (as a percent)	1.01%	0.76%	0.50%
Deferred stock units (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted under the plans	32,342	28,477	25,735
Compensation expense \| $	$ 1.9	$ 1.5	$ 1.2
2013 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future grant	45,000,000
Number of shares reserved for future grants	45,670,678
Reduction in the number of shares available for grants	1
AIG 2013 Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Number of installments \| item	3
AIG 2013 Long Term Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance period depending on which actual number of awards can be earned	150.00%
Vesting period, from date of grant	5 years
AIG 2013 Long Term Incentive Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance period depending on which actual number of awards can be earned	0.00%
AIG 2013 Long Term Incentive Plan \| Vesting on January 1 from the next three years of immediately following the end of the performance period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, from date of grant	2 years
AIG 2010 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future grant	60,000,000
Reduction in the number of shares available for grants	1
SICO Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Completion of age of the employee after which the awards can be vested	65 years
Payments for various benefits provided under the plan \| $	$ 0.0

SHARE-BASED AND OTHER COMPENSATION PLANS (Details - Share-settled Awards - Outstanding share-settled awards) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) $ / shares shares
Total unrecognized compensation cost (net of expected forfeitures) and the weighted-average periods over which those costs are expected to be recognized
Unrecognized Compensation Cost \| $	$ 10
PSUs
Total unrecognized compensation cost (net of expected forfeitures) and the weighted-average periods over which those costs are expected to be recognized
Unrecognized Compensation Cost \| $	$ 190
Weighted-Average Period	1 year 3 months 14 days
Expected Period	4 years
RSUs
Change in number of shares
Unvested at the beginning of the period (in shares)	1,404,645
Granted (in shares)	0
Vested (in shares)	(975,715)
Forfeited (in shares)	(15,972)
Unvested at the end of the period (in shares)	412,958
Total unrecognized compensation cost (net of expected forfeitures) and the weighted-average periods over which those costs are expected to be recognized
Unrecognized Compensation Cost \| $	$ 1
SICO Plans
Change in number of shares
Unvested at the end of the period (in shares)	31,964
Total unrecognized compensation cost (net of expected forfeitures) and the weighted-average periods over which those costs are expected to be recognized
Unrecognized Compensation Cost \| $	$ 10
Weighted-Average Period	5 years 3 months 11 days
Expected Period	21 years
2013 LTI \| PSUs
Change in number of shares
Unvested at the beginning of the period (in shares)	4,066,182
Granted (in shares)	0
Vested (in shares)	(1,593,595)
Forfeited (in shares)	(222,478)
Unvested at the end of the period (in shares)	2,250,109
Change in Weighted Average Grant-Date Fair Value
Unvested at the beginning of the period (in dollars per share) \| $ / shares	$ 37.09
Granted (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	37.09
Forfeited (in dollars per share) \| $ / shares	37.38
Unvested at the end of the period (in dollars per share) \| $ / shares	$ 37.07
2014 LTI \| PSUs
Change in number of shares
Unvested at the beginning of the period (in shares)	4,036,527
Granted (in shares)	10,225
Vested (in shares)	(1,270,263)
Forfeited (in shares)	(217,130)
Unvested at the end of the period (in shares)	2,559,359
Change in Weighted Average Grant-Date Fair Value
Unvested at the beginning of the period (in dollars per share) \| $ / shares	$ 48.72
Granted (in dollars per share) \| $ / shares	52.83
Vested (in dollars per share) \| $ / shares	48.56
Forfeited (in dollars per share) \| $ / shares	48.78
Unvested at the end of the period (in dollars per share) \| $ / shares	$ 48.82
2015 LTI \| PSUs
Change in number of shares
Unvested at the beginning of the period (in shares)	0
Granted (in shares)	6,445,639
Vested (in shares)	(3,212,976)
Forfeited (in shares)	(185,705)
Unvested at the end of the period (in shares)	3,046,958
Change in Weighted Average Grant-Date Fair Value
Unvested at the beginning of the period (in dollars per share) \| $ / shares	$ 0
Granted (in dollars per share) \| $ / shares	54.55
Vested (in dollars per share) \| $ / shares	54.09
Forfeited (in dollars per share) \| $ / shares	53.66
Unvested at the end of the period (in dollars per share) \| $ / shares	$ 55.08

SHARE-BASED AND OTHER COMPENSATION PLANS (Details - Roll forward of stock option activity) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Stock options activity
Exercisable at beginning of year (in shares)	202,275
Expired (in shares)	(108,763)
Exercisable at end of year (in shares)	93,512	202,275
Stock options, Weighted Average Exercise Price
Exercisable at beginning of year (in dollars per share)	$ 1,037.74
Expired (in dollars per share)	1,261.25
Exercisable at end of year (in dollars per share)	$ 777.78	$ 1,037.74
Stock options, Weighted Average Remaining Contractual Life
Options exercisable	2 years 1 month 28 days	2 years 2 months 1 day
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Vesting percentage per year	25.00%
Expiration period	10 years
Shares granted under the plans	0
Shares issued in connection with previous exercises of options with delivery deferred	0
Aggregate intrinsic value for unexercised options	$ 0

SHARE-BASED AND OTHER COMPENSATION PLANS (Details - Cash-settled Awards) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) item shares	Dec. 31, 2014 USD ($) shares	Dec. 31, 2013 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash paid to settle awards	$ 147	$ 120	$ 101
Compensation expense	365	349	457
Long Term Incentive Plans 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 19	57	249
Percentage of outstanding awards that will vest once the service requirements are satisfied	100.00%
Contingent performance measurement period	2 years
Long Term Incentive Plans 2012 [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contingent performance target amount \| item	2
Contingent performance cash portion maximum period	2 years
Long Term Incentive Plans 2012 [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contingent performance target amount \| item	0
Stock Salary Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash paid to settle awards	$ 42	89	180
Compensation expense	$ 2	$ 7	$ 73
Number of vested but unsettled RSUs \| shares	24,405
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 17
Number of vested but unsettled RSUs \| shares	412,958	1,404,645
SARs \| Long Term Incentive Plans 2012 [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contingent performance cash portion maximum period	2 years

SHARE-BASED AND OTHER COMPENSATION PLANS (Details - Cash-settled Awards - Roll forward of SARs and cash-settled RSUs (excluding stock salary) as well as the related expenses) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Change in SARs (based on target amounts) as well as the related expenses
Compensation expense	$ 365	$ 349	$ 457
Total unrecognized compensation cost (net of expected forfeitures) and the weighted-average periods over which those costs are expected to be recognized
Unrecognized Compensation Cost	$ 10
RSUs
Change in SARs (based on target amounts) as well as the related expenses
Unvested at the beginning of the period (in shares)	1,404,645
Granted (in shares)	0
Vested (in shares)	(975,715)
Forfeited (in shares)	(15,972)
Unvested at the end of the period (in shares)	412,958	1,404,645
Compensation expense	$ 17
Total unrecognized compensation cost (net of expected forfeitures) and the weighted-average periods over which those costs are expected to be recognized
Unrecognized Compensation Cost	$ 1
Weighted average assumptions used to estimate the fair value
Unvested at the beginning of the period (in shares)	1,404,645
Granted (in shares)	0
Vested (in shares)	(975,715)
Forfeited (in shares)	(15,972)
Unvested at the end of the period (in shares)	412,958	1,404,645

EMPLOYEE BENEFITS (Details - Pension and Postretirement Plans) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Change in plan assets:
AIG contributions	$ 166	$ 156	$ 155
U.S. Pension Plans
Change in projected benefit obligation:
Benefit obligation, beginning of year	5,769	4,882
Service cost	192	173	205
Interest cost	220	228	201
Actuarial (gain) loss	(423)	780
Plan amendment	(132)	0
Curtailments	0	0
Settlements	0	0
Foreign exchange effect	0	0
Projected benefit obligation, end of year	5,324	5,769	4,882
Change in plan assets:
Fair value of plan assets, beginning of year	4,111	4,024
Actual return on plan assets, net of expenses	(8)	266
AIG contributions	558	115
Benefits paid:
Settlements	0	0
Foreign exchange effect	0	0
Fair value of plan assets, end of year	4,359	4,111	4,024
Funded status, end of year				$ (965)	$ (1,658)
Amounts recognized in the consolidated balance sheet:
Assets				0	0
Liabilities				(965)	(1,658)
Total amounts recognized				(965)	(1,658)
Pre tax amounts recognized in Accumulated other comprehensive income (loss):
Net gain (loss)	(1,324)	(1,667)
Prior service (cost) credit	0	200
Total other comprehensive income (loss), before income tax expense (benefit)	(1,324)	(1,467)
Projected benefit obligation	5,324	4,882	4,882	5,324	5,769
U.S. Pension Plans \| American International Group Asset [Member]
Change in projected benefit obligation:
Benefits Paid AIG and Plan assets	(17)	(15)
U.S. Pension Plans \| Plan Asset [Member]
Change in projected benefit obligation:
Benefits Paid AIG and Plan assets	(285)	(279)
U.S. Pension Plans \| Non Qualified Pension Plan [Member]
Change in projected benefit obligation:
Benefit obligation, beginning of year	325
Projected benefit obligation, end of year	299	325
Pre tax amounts recognized in Accumulated other comprehensive income (loss):
Projected benefit obligation	$ 299	325		299	325
U.S. Pension Plans \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Period of service after which plan gets vested	0 years
Non U.S. Pension Plans
Change in projected benefit obligation:
Benefit obligation, beginning of year	$ 1,099	1,072
Service cost	43	42	47
Interest cost	25	29	29
Actuarial (gain) loss	(16)	114
Plan amendment	24	(1)
Curtailments	0	0
Settlements	(15)	(9)
Foreign exchange effect	(67)	(107)
Other	14	(2)
Projected benefit obligation, end of year	1,146	1,099	1,072
Acquisitions	72	0
Change in plan assets:
Fair value of plan assets, beginning of year	708	738
Actual return on plan assets, net of expenses	47	71
AIG contributions	62	67
Benefits paid:
Settlements	(15)	(8)
Foreign exchange effect	(44)	(75)
Other	13	(46)
Fair value of plan assets, end of year	773	708	738
Acquisitions	35	0
Funded status, end of year				(373)	(391)
Amounts recognized in the consolidated balance sheet:
Assets				46	46
Liabilities				(419)	(437)
Total amounts recognized				(373)	(391)
Pre tax amounts recognized in Accumulated other comprehensive income (loss):
Net gain (loss)	(161)	(227)
Prior service (cost) credit	(16)	11
Total other comprehensive income (loss), before income tax expense (benefit)	(177)	(216)
Projected benefit obligation	1,146	1,099	1,072	1,146	1,099
Non U.S. Pension Plans \| American International Group Asset [Member]
Change in projected benefit obligation:
Benefits Paid AIG and Plan assets	(9)	(15)
Non U.S. Pension Plans \| Plan Asset [Member]
Change in projected benefit obligation:
Benefits Paid AIG and Plan assets	(24)	(24)
Non U.S. Pension Plans \| Non Qualified Pension Plan [Member]
Change in projected benefit obligation:
Benefit obligation, beginning of year	295
Projected benefit obligation, end of year	199	295
Pre tax amounts recognized in Accumulated other comprehensive income (loss):
Projected benefit obligation	199	295		199	295
Postretirement Plans
Change in plan assets:
AIG contributions	0
U.S. Postretirement Plans
Change in projected benefit obligation:
Benefit obligation, beginning of year	229	217
Service cost	5	4	5
Interest cost	8	9	8
Actuarial (gain) loss	(23)	10
Plan amendment	0	0
Curtailments	0	0
Settlements	0	0
Foreign exchange effect	0	0
Projected benefit obligation, end of year	208	229	217
Change in plan assets:
Fair value of plan assets, beginning of year	0	0
Actual return on plan assets, net of expenses	0	0
AIG contributions	11	11
Benefits paid:
Settlements	0	0
Foreign exchange effect	0	0
Fair value of plan assets, end of year	0	0	0
Funded status, end of year				(208)	(229)
Amounts recognized in the consolidated balance sheet:
Assets				0	0
Liabilities				(208)	(229)
Total amounts recognized				(208)	(229)
Pre tax amounts recognized in Accumulated other comprehensive income (loss):
Net gain (loss)	13	(9)
Prior service (cost) credit	13	24
Total other comprehensive income (loss), before income tax expense (benefit)	26	15
Projected benefit obligation	229	229	217	208	229
U.S. Postretirement Plans \| American International Group Asset [Member]
Change in projected benefit obligation:
Benefits Paid AIG and Plan assets	(11)	(11)
U.S. Postretirement Plans \| Plan Asset [Member]
Change in projected benefit obligation:
Benefits Paid AIG and Plan assets	0	0
Non U.S. Postretirement Plans
Change in projected benefit obligation:
Benefit obligation, beginning of year	64	52
Service cost	3	2	3
Interest cost	3	2	2
Actuarial (gain) loss	9	11
Plan amendment	0	0
Curtailments	0	0
Settlements	0	0
Foreign exchange effect	(3)	(2)
Projected benefit obligation, end of year	75	64	52
Change in plan assets:
Fair value of plan assets, beginning of year	0	0
Actual return on plan assets, net of expenses	0	0
AIG contributions	1	1
Benefits paid:
Settlements	0	0
Foreign exchange effect	0	0
Fair value of plan assets, end of year	0	0	0
Funded status, end of year				(75)	(64)
Amounts recognized in the consolidated balance sheet:
Assets				0	0
Liabilities				(75)	(64)
Total amounts recognized				(75)	(64)
Pre tax amounts recognized in Accumulated other comprehensive income (loss):
Net gain (loss)	(16)	(8)
Prior service (cost) credit	0	1
Total other comprehensive income (loss), before income tax expense (benefit)	(16)	(7)
Projected benefit obligation	64	52	$ 52	$ 75	$ 64
Non U.S. Postretirement Plans \| American International Group Asset [Member]
Change in projected benefit obligation:
Benefits Paid AIG and Plan assets	(1)	(1)
Non U.S. Postretirement Plans \| Plan Asset [Member]
Change in projected benefit obligation:
Benefits Paid AIG and Plan assets	$ 0	$ 0

EMPLOYEE BENEFITS (Details - Accumulated benefit obligations for U.S. and non-U.S. pension benefit plans) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 5,324	$ 5,601
Defined benefit pension plan obligations in which the projected benefit obligation was in excess of the related plan assets
Projected benefit obligation	5,324	5,769
Accumulated benefit obligation	5,324	5,601
Fair value of plan assets	4,359	4,111
Defined benefit pension plan obligations in which the accumulated benefit obligation was in excess of the related plan assets
Projected benefit obligation	5,324	5,769
Accumulated benefit obligation	5,324	5,601
Fair value of plan assets	4,359	4,111
Non U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	1,109	1,040
Defined benefit pension plan obligations in which the projected benefit obligation was in excess of the related plan assets
Projected benefit obligation	999	843
Accumulated benefit obligation	896	746
Fair value of plan assets	506	342
Defined benefit pension plan obligations in which the accumulated benefit obligation was in excess of the related plan assets
Projected benefit obligation	912	757
Accumulated benefit obligation	889	740
Fair value of plan assets	$ 497	$ 329

EMPLOYEE BENEFITS (Details - Projected benefit obligation and the accumulated benefit obligation was in excess of the related plan assets and components of net periodic benefit cost ) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Estimated amount that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year
Net gain (loss)		$ (9)
Pension expense and effect of change in pension expense due to change in discount rate or expected long-term rate of return
Increase in expense due to decrease of 100 basis point in discount rate		71
Increase in expense due to decrease of 100 basis point in expected long-term rate of return		45
Decrease in expense due to increase of 100 basis point in discount rate		56
Decrease in expense due to increase of 100 basis point in expected long-term rate of return		45
Pensions
Estimated amount that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year
Prior service credit		1
Aggregate net loss and prior service credit		32
Pensions \| Change in method for pension plans - spot rate
Change in Accounting Estimate [Abstract]
Pension plan expense		86
Reduction in pension expense due to change in accounting estimate		(52)
U.S. Pension Plans
Components of net periodic benefit cost:
Service cost		192	$ 173	$ 205
Interest cost		220	228	201
Expected return on assets		(295)	(288)	(257)
Amortization of prior service (credit) cost		(22)	(33)	(33)
Amortization of net (gain) loss		92	42	138
Curtailment (gain) loss		(179)	0	0
Net settlement (gain) loss		0	0	0
Other		0	0	0
Net periodic benefit cost		8	122	254
Total recognized in Accumulated other comprehensive income (loss)		143	(793)	823
Total recognized in net periodic benefit cost and other comprehensive income (loss)		135	(915)	569
Pension expense and effect of change in pension expense due to change in discount rate or expected long-term rate of return
Estimated pension expense	$ 86
Non U.S. Pension Plans
Components of net periodic benefit cost:
Service cost		43	42	47
Interest cost		25	29	29
Expected return on assets		(25)	(22)	(19)
Amortization of prior service (credit) cost		(2)	(3)	(3)
Amortization of net (gain) loss		9	7	13
Curtailment (gain) loss		(1)	1	(1)
Net settlement (gain) loss		1	0	5
Other		0	0	1
Net periodic benefit cost		50	54	72
Total recognized in Accumulated other comprehensive income (loss)		38	(40)	103
Total recognized in net periodic benefit cost and other comprehensive income (loss)		(12)	(94)	31
Postretirement Plans \| Maximum
Estimated amount that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year
Aggregate net loss and prior service credit		9
U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost		5	4	5
Interest cost		8	9	8
Expected return on assets		0	0	0
Amortization of prior service (credit) cost		(11)	(11)	(11)
Amortization of net (gain) loss		0	0	1
Curtailment (gain) loss		0	0	0
Net settlement (gain) loss		0	0	0
Other		0	0	0
Net periodic benefit cost		2	2	3
Total recognized in Accumulated other comprehensive income (loss)		12	(21)	30
Total recognized in net periodic benefit cost and other comprehensive income (loss)		10	(23)	27
Non U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost		3	2	3
Interest cost		3	2	2
Expected return on assets		0	0	0
Amortization of prior service (credit) cost		(1)	0	0
Amortization of net (gain) loss		0	0	0
Curtailment (gain) loss		0	0	(2)
Net settlement (gain) loss		0	0	0
Other		0	0	0
Net periodic benefit cost		5	4	3
Total recognized in Accumulated other comprehensive income (loss)		(9)	(11)	16
Total recognized in net periodic benefit cost and other comprehensive income (loss)		$ (14)	$ (15)	$ 13

EMPLOYEE BENEFITS (Details - Weighted average assumptions used to determine the benefit obligations) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Pension Plans
Weighted average assumptions used to determine the benefit obligations:
Discount rate (as a percent)	4.32%	3.94%
Discount rate used to adjust for time value of money for retirement and postretirement plans (as a percent)		3.40%
Weighted average assumptions used to determine the net periodic benefit costs:
Discount rate (as a percent)	3.94%	4.83%	3.93%
Rate of compensation increase (as a percent)	3.40%	3.50%	4.00%
Expected return on assets (as a percent)	7.25%	7.25%	7.25%
Discount Rate Methodology
Discount rate (as a percent)	4.32%	3.95%
Plan Assets
Number of shares of AIG common stock included in plans assets	0	0
Non U.S. Pension Plans
Weighted average assumptions used to determine the benefit obligations:
Discount rate (as a percent)	2.17%	2.33%
Discount rate used to adjust for time value of money for retirement and postretirement plans (as a percent)	2.64%	2.89%
Weighted average assumptions used to determine the net periodic benefit costs:
Discount rate (as a percent)	2.33%	2.77%	2.62%
Rate of compensation increase (as a percent)	2.89%	2.89%	2.86%
Expected return on assets (as a percent)	3.33%	2.93%	2.60%
Plan Assets
Number of shares of AIG common stock included in plans assets	0	0
Japanese Non-U.S. Pension Plans
Discount Rate Methodology
Projected benefit obligation to total projected benefit obligations (as a percent)	50.00%	47.00%
Weighted average discount rate (as a percent)	0.99%	1.22%
U.S. Postretirement Plans
Weighted average assumptions used to determine the benefit obligations:
Discount rate (as a percent)	4.21%	3.78%
Assumed health care cost trend rates
Ultimate rate to which cost increase is assumed to decline (as a percent)	4.50%	4.50%
Effect of one percent point change in the assumed healthcare cost trend rate on postretirement benefit obligations
One percent increase	$ 6	$ 5
One percent decrease	$ 4	$ 5
Weighted average assumptions used to determine the net periodic benefit costs:
Discount rate (as a percent)	3.77%	4.59%	3.67%
U.S. Postretirement Plans \| Medical (before age 65)
Assumed health care cost trend rates
Ultimate rate to which cost increase is assumed to decline (as a percent)	6.79%	7.07%
Year in which the ultimate trend rate is reached:	2027	2027
U.S. Postretirement Plans \| Medical (age 65 and older)
Assumed health care cost trend rates
Ultimate rate to which cost increase is assumed to decline (as a percent)	6.64%	6.75%
Year in which the ultimate trend rate is reached:	2027	2027
Non U.S. Postretirement Plans
Weighted average assumptions used to determine the benefit obligations:
Discount rate (as a percent)	4.09%	4.04%
Discount rate used to adjust for time value of money for retirement and postretirement plans (as a percent)	3.43%	3.29%
Effect of one percent point change in the assumed healthcare cost trend rate on postretirement benefit obligations
One percent increase	$ 17	$ 12
One percent decrease	$ 12	$ 12
Weighted average assumptions used to determine the net periodic benefit costs:
Discount rate (as a percent)	4.04%	4.77%	3.45%
Rate of compensation increase (as a percent)	3.29%	3.34%	3.55%

EMPLOYEE BENEFITS (Details - Assumed health care cost trend rates)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Target allocation (as a percent)	100.00%
Actual allocation (as a percent)		100.00%	100.00%
Expected weighted average long-term rate of return plan assets (as a percent)		7.25%	7.25%	7.25%
Period of review and revision of long-term strategic asset allocation		3 years
U.S. Pension Plans \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (as a percent)	35.00%
Actual allocation (as a percent)		35.00%	55.00%
U.S. Pension Plans \| Fixed maturity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (as a percent)	45.00%
Actual allocation (as a percent)		41.00%	28.00%
U.S. Pension Plans \| Other Investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation (as a percent)	20.00%
Actual allocation (as a percent)		24.00%	17.00%
Non U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Target allocation (as a percent)	100.00%
Actual allocation (as a percent)		100.00%	100.00%
Expected weighted average long-term rate of return plan assets (as a percent)		3.33%	2.93%	2.60%
Non U.S. Pension Plans \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (as a percent)	32.00%
Actual allocation (as a percent)		45.00%	50.00%
Non U.S. Pension Plans \| Fixed maturity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (as a percent)	48.00%
Actual allocation (as a percent)		35.00%	35.00%
Non U.S. Pension Plans \| Other Investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation (as a percent)	18.00%
Actual allocation (as a percent)		13.00%	8.00%
Non U.S. Pension Plans \| Cash & cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Target allocation (as a percent)	2.00%
Actual allocation (as a percent)		7.00%	7.00%
Japan's pension plans
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (as a percent)		54.00%	55.00%
Expected weighted average long-term rate of return plan assets (as a percent)		1.71%	1.24%
Period of review and revision of long-term strategic asset allocation		5 years

EMPLOYEE BENEFITS (Details - Changes in Level 3 fair value measurements) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Changes in Level 3 fair value measurements
Purchases	$ 5,990	$ 8,678
Sales	(1,600)	(554)
Settlements	(6,735)	(6,959)
Changes in Unrealized Gains (Losses) on Instruments Held at End of Year	(129)	298
U.S. Pension Plans
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	4,111	4,024
Net Realized and Unrealized Gains (Losses)	(8)	266
Fair value of plan assets, end of year	4,359	4,111
U.S. Pension Plans \| Fixed maturity securities: U.S. investment grade
Changes in Level 3 fair value measurements
Fair value of plan assets, end of year	270
U.S. Pension Plans \| Hedge funds:
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	373
Fair value of plan assets, end of year	500	373
U.S. Pension Plans \| Fixed maturity securities: Mortgage and other asset-backed securities
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	6
Fair value of plan assets, end of year	7	6
U.S. Pension Plans \| Private equity funds:
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	228
Fair value of plan assets, end of year	230	228
U.S. Pension Plans \| Insurance contracts
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	26
Fair value of plan assets, end of year	23	26
U.S. Pension Plans \| Level 3
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	272	292
Net Realized and Unrealized Gains (Losses)	(1)	16
Purchases	114	106
Sales	(108)	(157)
Settlements	0	0
Transfers In	8	15
Transfers Out	(15)	0
Fair value of plan assets, end of year	270	272
Changes in Unrealized Gains (Losses) on Instruments Held at End of Year	3	10
U.S. Pension Plans \| Level 3 \| Fixed maturity securities: U.S. investment grade
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	8	9
Net Realized and Unrealized Gains (Losses)	(1)	2
Purchases	17	18
Sales	(15)	(21)
Settlements	0	0
Transfers In	0	0
Transfers Out	0	0
Fair value of plan assets, end of year	9	8
Changes in Unrealized Gains (Losses) on Instruments Held at End of Year	(1)	1
U.S. Pension Plans \| Level 3 \| Hedge funds:
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	36	35
Net Realized and Unrealized Gains (Losses)	1	3
Purchases	11	15
Sales	(10)	(32)
Settlements	0	0
Transfers In	8	15
Transfers Out	(15)	0
Fair value of plan assets, end of year	31	36
Changes in Unrealized Gains (Losses) on Instruments Held at End of Year	(1)	(1)
U.S. Pension Plans \| Level 3 \| Fixed maturity securities: Mortgage and other asset-backed securities
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	0
Fair value of plan assets, end of year	0	0
U.S. Pension Plans \| Level 3 \| Private equity funds:
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	228	248
Net Realized and Unrealized Gains (Losses)	(1)	11
Purchases	86	73
Sales	(83)	(104)
Settlements	0	0
Transfers In	0	0
Transfers Out	0	0
Fair value of plan assets, end of year	230	228
Changes in Unrealized Gains (Losses) on Instruments Held at End of Year	5	10
U.S. Pension Plans \| Level 3 \| Insurance contracts
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	0
Fair value of plan assets, end of year	0	0
Non U.S. Pension Plans
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	708	738
Net Realized and Unrealized Gains (Losses)	47	71
Fair value of plan assets, end of year	773	708
Non U.S. Pension Plans \| Insurance contracts
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	56
Fair value of plan assets, end of year	95	56
Non U.S. Pension Plans \| Level 3
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	73	63
Net Realized and Unrealized Gains (Losses)	(8)	9
Purchases	1	3
Sales	0	(2)
Settlements	0	0
Transfers In	53	0
Transfers Out	(24)	0
Fair value of plan assets, end of year	95	73
Non U.S. Pension Plans \| Level 3 \| Other fixed income securities
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	17	19
Net Realized and Unrealized Gains (Losses)	(1)	0
Purchases	0	0
Sales	0	(2)
Settlements	0	0
Transfers In	0	0
Transfers Out	(16)	0
Fair value of plan assets, end of year	0	17
Non U.S. Pension Plans \| Level 3 \| Insurance contracts
Changes in Level 3 fair value measurements
Fair value of plan assets, beginning of year	56	44
Net Realized and Unrealized Gains (Losses)	(7)	9
Purchases	1	3
Sales	0	0
Settlements	0	0
Transfers In	53	0
Transfers Out	(8)	0
Fair value of plan assets, end of year	$ 95	$ 56

EMPLOYEE BENEFITS (Details - Expected Cash Flows) - USD ($) $ in Millions		12 Months Ended
	Jan. 02, 2012	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
AIG contributions		$ 166	$ 156	$ 155
Expected future benefit payments, net of participants' contributions
Pre tax expenses associated with contribution plans		$ 166	156	$ 155
DEFINED CONTRIBUTION PLANS
Maximum percentage of participant contributions eligible for employer contribution match, towards defined contribution plan	100.00%
Percentage of employer's contribution on employee's matching contribution	6.00%
Change in percentage of employer's contribution on employee's matching contribution		3.00%
Company's maximum contribution as percentage of employee's annual salary				0.00%
Pensions
Defined Benefit Plan Disclosure [Line Items]
Estimated employer contribution		$ 67
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
AIG contributions		558	115
Expected future benefit payments, net of participants' contributions
2016		759
2017		310
2018		323
2019		319
2020		313
2021-2025		1,487
Pre tax expenses associated with contribution plans		558	115
Non U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
AIG contributions		62	67
Expected future benefit payments, net of participants' contributions
2016		36
2017		38
2018		40
2019		46
2020		45
2021-2025		282
Pre tax expenses associated with contribution plans		62	67
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Minimum required cash contributions		0
AIG contributions		0
Expected future benefit payments, net of participants' contributions
Pre tax expenses associated with contribution plans		0
U.S. Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
AIG contributions		11	11
Expected future benefit payments, net of participants' contributions
2016		14
2017		15
2018		15
2019		15
2020		16
2021-2025		83
Pre tax expenses associated with contribution plans		11	11
Non U.S. Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
AIG contributions		1	1
Expected future benefit payments, net of participants' contributions
2016		1
2017		1
2018		2
2019		2
2020		2
2021-2025		12
Pre tax expenses associated with contribution plans		$ 1	$ 1

INCOME TAXES (Details - Income (loss) from continuing operations and income tax expense (benefit)) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income (loss) from continuing operations before income tax expense (benefit)
U.S.									$ 1,950	$ 8,250	$ 8,058
Foreign									1,331	2,251	1,310
Income (loss) from continuing operations before income tax expense (benefit)	$ (2,932)	$ (115)	$ 2,552	$ 3,776	$ 729	$ 3,019	$ 4,480	$ 2,273	3,281	10,501	9,368
Foreign:
Current									391	473	549
Deferred									(95)	154	(442)
U.S.:
Current									429	115	131
Deferred									334	2,185	122
Income tax expense (benefit)									1,059	2,927	360
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, pre-tax income (loss)
Consolidated total amounts									3,281	10,524	9,518
Amounts attributable to discontinued operations									0	23	150
Income (loss) from continuing operations before income tax expense (benefit)	(2,932)	$ (115)	$ 2,552	$ 3,776	$ 729	$ 3,019	$ 4,480	$ 2,273	3,281	10,501	9,368
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, tax expense/benefit
U.S. federal income tax at statutory rate									1,148	3,683	3,331
Consolidated total amounts									1,059	3,000	426
Amounts attributable to discontinued operations									0	73	66
Income tax expense (benefit)									1,059	2,927	360
Adjustments:
Tax exempt interest									(195)	(236)	(298)
Uncertain tax positions									195	(81)	632
Reclassifications from accumulated other comprehensive income									(127)	(61)	0
Partial completion of Internal Revenue Service examination									109
Cross Border Financing Transactions									324
Non-deductible transfer pricing charges									97	86	0
Dividends received deduction									(72)	(62)	(75)
Effect of foreign operations									(58)	(68)	(5)
State income taxes									34	39	(21)
Other									(73)	(184)	13
Effect of discontinued operations									0	65	14
Valuation allowance
Continuing operations									110	$ (181)	$ (3,165)
Increase (Decrease) in certain other valuation allowances associated with foreign jurisdictions									$ 110
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, percentage of pre-tax income (loss)
U.S. federal income tax at statutory rate (as a percent)									35.00%	35.00%	35.00%
Consolidated total amounts (as a percent)									32.30%	28.50%	4.50%
Amounts attributable to discontinued operations (as a percent)									0.00%	317.40%	44.30%
Adjustments:
Amounts attributable to continuing operations (as a percent)									32.30%	27.90%	3.80%
Tax exempt interest (as a percent)									(5.90%)	(2.20%)	(3.10%)
Uncertain Tax Positions (as a percent)									5.90%	(0.80%)	6.60%
Reclassification from accumulated other comprehensive income (as a percent)									(3.90%)	(0.60%)	0.00%
Non-deductible transfer pricing charges (as a percent)									3.00%	0.80%	0.00%
Dividends received deduction (as a percent)									(2.20%)	(0.60%)	(0.80%)
Effect of foreign operations (as a percent)									(1.80%)	(0.60%)	(0.10%)
State income taxes (as a percent)									1.00%	0.40%	(0.20%)
Other (as a percent)									(2.20%)	(1.70%)	0.10%
Effect of discontinued operations (as a percent)									0.00%	0.60%	0.10%
Valuation allowance (as a percent):
Continuing operations (as a percent)									3.40%	(1.70%)	(33.30%)
Undistributed Earnings of Foreign Subsidiaries	$ 1,800								$ 1,800
US Life companies capital loss carryforward
Valuation allowance
Continuing operations										$ 209	$ 2,800
Other valuation allowance associated with foreign jurisdictions
Valuation allowance
Continuing operations											$ 396
Other valuation allowance associated with foreign jurisdictions \| Residential mortgages dispute resolution
Adjustments:
Other										$ 182

INCOME TAXES (Details - Components of the net deferred tax assets (liabilities) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Life policy reserves	$ 353	$ 629
Losses and tax credit carryforwards	18,680	18,203
Basis differences on investments	4,886	4,114
Accruals not currently deductible, and other	1,003	1,804
Loss reserve discount	1,021	1,378
Loan loss and other reserves	8	152
Unearned premium reserve reduction	1,603	1,269
Flight equipment, fixed assets and intangible assets	129	28
Other	577	220
Employee benefits	1,286	1,543
Total deferred tax assets	29,546	29,340
Deferred tax liabilities:
Investments in foreign subsidiaries	(33)	(58)
Deferred policy acquisition costs	(3,467)	(3,003)
Unrealized gains related to available for sale debt securities	(3,077)	(5,795)
Total deferred tax liabilities	(6,577)	(8,856)
Net deferred tax assets before valuation allowance	22,969	20,484
Valuation allowance	(3,012)	(1,739)
Net deferred tax assets (liabilities)	$ 19,957	$ 18,745

INCOME TAXES (Details - U.S. consolidated income tax group tax losses and credits carryforwards) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
AIG U.S. consolidated income tax group tax losses and credits carryforwards, gross
Net operating loss carryforwards	$ 34,883
AIG U.S. consolidated income tax group tax losses and credits carryforwards, tax effected
Net operating loss carryforwards	12,209
Foreign tax credit carryforwards	6,853
Other carryforwards	538
Total AIG U.S. consolidated income tax group tax losses and credits carryforwards on a tax return basis	19,600
Unrecognized tax benefit	(2,523)
Total AIG U.S. consolidated income tax group tax losses and credits carryforwards on a U.S.GAAP basis	17,077
Other carryforwards include general business credits	$ 326
Other Operating Loss Carryforward
AIG U.S. consolidated income tax group tax losses and credits carryforwards, tax effected
Expiration periods	Various
Maximum \| Operating loss carryforward
AIG U.S. consolidated income tax group tax losses and credits carryforwards, tax effected
Expiration periods	2035
Maximum \| Foreign tax credit carryforwards
AIG U.S. consolidated income tax group tax losses and credits carryforwards, tax effected
Expiration periods	2024
Minimum \| Operating loss carryforward
AIG U.S. consolidated income tax group tax losses and credits carryforwards, tax effected
Expiration periods	2028
Minimum \| Foreign tax credit carryforwards
AIG U.S. consolidated income tax group tax losses and credits carryforwards, tax effected
Expiration periods	2016

INCOME TAXES (Details - Assessment of Deferred Tax Asset (liabilities) Valuation Allowance) - USD ($) $ in Millions		3 Months Ended								12 Months Ended
	Feb. 26, 2009	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred Tax Assets, Liabilities [Line Items]
Change in valuation allowance		$ 49	$ 8	$ (40)	$ 93	$ 20	$ 21	$ 75	$ 65	$ 0
Continuing operations										110	$ (181)	$ (3,165)
Deferred tax asset valuation allowance allocated to other comprehensive income										1,200
Deferred tax asset valuation allowance related to tax attributes that expired										0
Net deferred tax assets (liabilities) on a U.S. GAAP basis
Valuation allowance		(3,012)				(1,739)				(3,012)	(1,739)
Net deferred tax assets (liabilities)		19,957				18,745				19,957	18,745
Net foreign, state & local deferred tax assets		22,969				20,484				22,969	20,484
Net U.S, foreign, state & local deferred tax assets		20,394				19,339				20,394	19,339
Net foreign, state & local deferred tax liabilities		(6,577)				(8,856)				(6,577)	(8,856)
Deferred tax asset - U.S. consolidated income tax group
Deferred Tax Assets, Liabilities [Line Items]
Change in valuation allowance										17,100
Deferred tax asset valuation allowance recognized related to certain state, local and foreign jurisdictions										266
Net deferred tax assets (liabilities) on a U.S. GAAP basis
Net U.S. consolidated return group deferred tax assets		24,134				24,543				24,134	24,543
Net deferred tax assets (liabilities) in Accumulated other comprehensive income		(2,806)				(5,510)				(2,806)	(5,510)
Valuation allowance		(1,281)				(129)				(1,281)	(129)
Net deferred tax assets (liabilities)		20,047				18,904				20,047	18,904
Refund of taxes, interest and penalties sought	$ 306
Deferred tax liability - foreign, state and local
Net deferred tax assets (liabilities) on a U.S. GAAP basis
Valuation allowance		(1,731)				(1,610)				(1,731)	(1,610)
Net deferred tax assets (liabilities)		347				435				347	435
Net foreign, state & local deferred tax assets		2,078				2,045				2,078	2,045
Net foreign, state & local deferred tax liabilities		(437)				(594)				(437)	(594)
Net foreign, state & local deferred tax liabilities		$ 90				$ 159				$ 90	$ 159

INCOME TAXES (Details - Accounting For Uncertainty in Income Taxes) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Rollforward of the beginning and ending balances of the total amounts of gross unrecognized tax benefits
Gross unrecognized tax benefits, beginning of year	$ 4,395	$ 4,340	$ 4,385
Increases in tax positions for prior years	162	91	680
Decreases in tax positions for prior years	(209)	(60)	(796)
Increases in tax positions for current year	0	10	43
Lapse in statute of limitations	(4)	(6)	(20)
Settlements	(13)	0	(2)
Activity of discontinued operations	0	20	50
Gross unrecognized tax benefits, end of year	4,331	4,395	4,340
Unrecognized tax benefits, if recognized would not affect the effective tax rate	100	300	100
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate	4,200	4,100	4,200
Unrecognized tax benefits, interest and penalties accrued	1,200	1,100
Unrecognized tax benefits, interest net of the federal benefit (expense) and penalties	$ 156	$ 21	$ 142
Unrecognized tax benefits, period of reasonably possible change in balance	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.

INCOME TAXES (Details - Tax Years that remain open in Income Taxes)	12 Months Ended
	Dec. 31, 2015
UNITED STATES \| Minimum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2000
UNITED STATES \| Maximum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2014
Australia [Member] \| Minimum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2011
Australia [Member] \| Maximum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2014
FRANCE [Member] \| Minimum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2013
FRANCE [Member] \| Maximum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2014
JAPAN [Member} \| Minimum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2009
JAPAN [Member} \| Maximum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2014
KOREA [Member] \| Minimum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2010
KOREA [Member] \| Maximum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2014
SINGAPORE [Member] \| Minimum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2011
SINGAPORE [Member] \| Maximum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2014
UNITED KINGDOM [Member] \| Minimum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2013
UNITED KINGDOM [Member] \| Maximum [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2014

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Details - Consolidated Statements of Income (Loss)) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
Revenues	$ 13,831	$ 12,822	$ 15,699	$ 15,975	$ 15,410	$ 16,697	$ 16,136	$ 16,163	$ 58,327	$ 64,406	$ 68,874
Income (loss) from continuing operations before income tax expense (benefit)	(2,932)	(115)	2,552	3,776	729	3,019	4,480	2,273	3,281	10,501	9,368
Income (loss) from discontinued operations, net of income tax expense	0	(17)	16	1	(35)	2	30	(47)	0	(50)	84
Net income (loss)	(1,849)	(197)	1,791	2,477	675	2,201	3,036	1,612	2,222	7,524	9,092
Net income (loss) from continuing operations attributable to noncontrolling interests	(8)	34	(9)	9	20	9	(37)	3	26	(5)	7
Net income (loss) attributable to AIG	$ (1,841)	$ (231)	$ 1,800	$ 2,468	$ 655	$ 2,192	$ 3,073	$ 1,609	$ 2,196	$ 7,529	$ 9,085
Basic and diluted:
Income from continuing operations	$ (1.5)	$ (0.17)	$ 1.34	$ 1.81	$ 0.5	$ 1.54	$ 2.11	$ 1.13	$ 1.69	$ 5.31	$ 6.11
Income (loss) from discontinued operations - basic (in dollars per share)	0	(0.01)	0.01	0	(0.03)	0	0.02	(0.03)	0	(0.04)	0.05
Income from continuing operations	(1.5)	(0.17)	1.31	1.78	0.49	1.52	2.08	1.12	1.65	5.24	6.08
Income (loss) from discontinued operations	$ 0	$ (0.01)	$ 0.01	$ 0	$ (0.03)	$ 0	$ 0.02	$ (0.03)	$ 0	$ (0.04)	$ 0.05
Weighted average shares outstanding:
Basic	1,226,880,632	1,279,072,748	1,329,157,366	1,365,951,690	1,391,790,420	1,419,239,774	1,442,397,111	1,459,249,393	1,299,825,350	1,427,959,799	1,474,171,690
Diluted	1,226,880,632	1,279,072,748	1,365,390,431	1,386,263,549	1,412,162,456	1,442,067,842	1,464,676,330	1,472,510,813	1,334,464,883	1,447,553,652	1,481,206,797
Noteworthy quarterly items income (expense):
Other-than-temporary impairments	$ (106)	$ (273)	$ (164)	$ (128)	$ (83)	$ (50)	$ (55)	$ (59)	$ 591	$ 217	$ 187
Net (gain) loss on sale of divested businesses	1	3	1	6	(1)	(18)	(2,174)	(4)	(11)	2,197	(48)
Federal and foreign valuation allowance for deferred tax assets	49	8	(40)	93	20	21	75	65	0
Loss on extinguishment of debt	0	(346)	(342)	(68)	(1,268)	(742)	(34)	(238)	(756)	(2,282)	(651)
Restructuring and other costs	222	274
Reserve strengthening charges	3,587	191	317	24					4,119	703	557
Adjustment
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
Income (loss) from continuing operations before income tax expense (benefit)	(308)								(376)
Net income (loss) attributable to AIG	(193)	$ (36)	$ 15	$ (16)	$ 25	$ (61)	$ 13	$ (28)	(156)	$ (51)	$ 78
Investments:
Operating Income Loss	$ (122)								$ (235)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Balance Sheets) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets:
Short-term investments	$ 10,132	$ 11,243
Other investments	328,222	344,523
Total investments	338,354	355,766
Cash	1,629	1,758	$ 2,241	$ 1,151
Loans to subsidiaries	0
Investment in consolidated subsidiaries	0
Other assets, including deferred income taxes	156,960	158,057
Total assets	496,943	515,581
Liabilities:
Insurance liabilities	271,645	270,615
Long-term Debt	29,350	31,217
Other liabilities, including intercompany balances	105,738	106,477
Loans from subsidiaries	0
Total liabilities	406,733	408,309
Total AIG shareholders' equity	89,658	106,898
Non-redeemable noncontrolling interests	552	374
Total equity	90,210	107,272	101,081	98,669
Total liabilities and equity	496,943	515,581
AIG (As Guarantor)
Assets:
Short-term investments	4,042	6,078
Other investments	7,425	11,415
Total investments	11,467	17,493
Cash	34	26	30	$ 81
Loans to subsidiaries	35,927	31,070
Investment in consolidated subsidiaries	51,151	62,811
Other assets, including deferred income taxes	23,398	23,835
Total assets	121,977	135,235
Liabilities:
Insurance liabilities	0
Long-term Debt	19,876	21,190
Other liabilities, including intercompany balances	11,869	6,196
Loans from subsidiaries	574	951
Total liabilities	32,319	28,337
Total AIG shareholders' equity	89,658	106,898
Non-redeemable noncontrolling interests	0
Total equity	89,658	106,898
Total liabilities and equity	121,977	135,235
AIGLH
Assets:
Short-term investments	0
Other investments	0
Total investments	0
Cash	116	91	51
Loans to subsidiaries	0
Investment in consolidated subsidiaries	30,239	35,850
Other assets, including deferred income taxes	260	2,305
Total assets	30,615	38,246
Liabilities:
Insurance liabilities	0
Long-term Debt	706	820
Other liabilities, including intercompany balances	201	2,314
Loans from subsidiaries	3	0
Total liabilities	910	3,134
Total AIG shareholders' equity	29,705	35,112
Non-redeemable noncontrolling interests	0
Total equity	29,705	35,112
Total liabilities and equity	30,615	38,246
Other Subsidiaries
Assets:
Short-term investments	9,637	6,231
Other investments	320,797	333,108
Total investments	330,434	339,339
Cash	1,479	1,641	$ 2,160
Loans to subsidiaries	578	779
Investment in consolidated subsidiaries	0
Other assets, including deferred income taxes	135,690	141,826
Total assets	468,181	483,585
Liabilities:
Insurance liabilities	271,645	270,615
Long-term Debt	8,768	9,207
Other liabilities, including intercompany balances	99,777	108,189
Loans from subsidiaries	35,928	30,898
Total liabilities	416,118	418,909
Total AIG shareholders' equity	51,511	64,302
Non-redeemable noncontrolling interests	552	374
Total equity	52,063	64,676
Total liabilities and equity	468,181	483,585
Reclassifications and Eliminations
Assets:
Short-term investments	(3,547)	(1,066)
Other investments	0
Total investments	(3,547)	(1,066)
Cash	0
Loans to subsidiaries	(36,505)	(31,849)
Investment in consolidated subsidiaries	(81,390)	(98,661)
Other assets, including deferred income taxes	(2,388)	(9,909)
Total assets	(123,830)	(141,485)
Liabilities:
Insurance liabilities	0	0
Long-term Debt	0
Other liabilities, including intercompany balances	(6,109)	(10,222)
Loans from subsidiaries	(36,505)	(31,849)
Total liabilities	(42,614)	(42,071)
Total AIG shareholders' equity	(81,216)	(99,414)
Non-redeemable noncontrolling interests	0
Total equity	(81,216)	(99,414)
Total liabilities and equity	$ (123,830)	$ (141,485)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Income (Loss)) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Equity in earnings of consolidated subsidiaries									$ 0	$ 0	$ 0
Other income									58,327	64,406	68,874
Total revenues	$ 13,831	$ 12,822	$ 15,699	$ 15,975	$ 15,410	$ 16,697	$ 16,136	$ 16,163	58,327	64,406	68,874
Expenses:
Interest expense									1,281	1,718	2,142
Net losses on extinguishment of debt	0	346	342	68	1,268	742	34	238	756	2,282	651
Other expenses									53,009	49,905	56,713
Total benefits, losses and expenses									55,046	53,905	59,506
Income (loss) from continuing operations before income tax expense (benefit)									3,281	10,501	9,368
Income tax expense (benefit)									1,059	2,927	360
Income from continuing operations									2,222	7,574	9,008
Income (loss) from discontinued operations, net of income taxes	0	(17)	16	1	(35)	2	30	(47)	0	(50)	84
Net income	(1,849)	(197)	1,791	2,477	675	2,201	3,036	1,612	2,222	7,524	9,092
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	(8)	34	(9)	9	20	9	(37)	3	26	(5)	7
Net income (loss) attributable to AIG	$ (1,841)	$ (231)	$ 1,800	$ 2,468	$ 655	$ 2,192	$ 3,073	$ 1,609	2,196	7,529	9,085
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries									3,954	9,450	7,638
Other income									88	1,658	1,487
Total revenues									4,042	11,108	9,125
Expenses:
Interest expense									1,049	1,507	1,938
Net losses on extinguishment of debt									703	2,248	580
Other expenses									1,178	1,546	1,520
Total benefits, losses and expenses									2,930	5,301	4,038
Income (loss) from continuing operations before income tax expense (benefit)									1,112	5,807	5,087
Income tax expense (benefit)									(1,086)	(1,735)	(4,012)
Income from continuing operations									2,198	7,542	9,099
Income (loss) from discontinued operations, net of income taxes									(2)	(13)	(14)
Net income									2,196	7,529	9,085
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests									0	0	0
Net income (loss) attributable to AIG									2,196	7,529	9,085
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries									1,936	3,519	4,075
Other income									0	0	1
Total revenues									1,936	3,519	4,076
Expenses:
Interest expense									58	100	126
Net losses on extinguishment of debt									0	0	0
Other expenses									44	203	75
Total benefits, losses and expenses									102	303	201
Income (loss) from continuing operations before income tax expense (benefit)									1,834	3,216	3,875
Income tax expense (benefit)									(73)	(103)	(58)
Income from continuing operations									1,907	3,319	3,933
Income (loss) from discontinued operations, net of income taxes									0	0	0
Net income									1,907	3,319	3,933
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests									0	0	0
Net income (loss) attributable to AIG									1,907	3,319	3,933
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries									0	0	0
Other income									58,953	63,157	67,698
Total revenues									58,953	63,157	67,698
Expenses:
Interest expense									302	243	233
Net losses on extinguishment of debt									46	85	71
Other expenses									52,374	48,315	55,277
Total benefits, losses and expenses									52,722	48,643	55,581
Income (loss) from continuing operations before income tax expense (benefit)									6,231	14,514	12,117
Income tax expense (benefit)									2,218	4,817	4,454
Income from continuing operations									4,013	9,697	7,663
Income (loss) from discontinued operations, net of income taxes									2	(37)	98
Net income									4,015	9,660	7,761
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests									26	(5)	7
Net income (loss) attributable to AIG									3,989	9,665	7,754
Reclassifications and Eliminations
Revenues:
Equity in earnings of consolidated subsidiaries									(5,890)	(12,969)	(11,713)
Other income									(714)	(409)	(312)
Total revenues									(6,604)	(13,378)	(12,025)
Expenses:
Interest expense									(128)	(132)	(155)
Net losses on extinguishment of debt									7	(51)	0
Other expenses									(587)	(159)	(159)
Total benefits, losses and expenses									(708)	(342)	(314)
Income (loss) from continuing operations before income tax expense (benefit)									(5,896)	(13,036)	(11,711)
Income tax expense (benefit)									0	(52)	(24)
Income from continuing operations									(5,896)	(12,984)	(11,687)
Income (loss) from discontinued operations, net of income taxes									0	0	0
Net income									(5,896)	(12,984)	(11,687)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests									0	0	0
Net income (loss) attributable to AIG									$ (5,896)	$ (12,984)	$ (11,687)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Comprehensive Income (Loss)) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Net income	$ (1,849)	$ (197)	$ 1,791	$ 2,477	$ 675	$ 2,201	$ 3,036	$ 1,612	$ 2,222	$ 7,524	$ 9,092
Other Comprehensive Income (Loss)									(8,086)	4,257	(6,237)
Comprehensive income (loss)									(5,864)	11,781	2,855
Total comprehensive income (loss) attributable to noncontrolling interests									20	(5)	(16)
Comprehensive income (loss) attributable to AIG									(5,884)	11,786	2,871
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net income									2,196	7,529	9,085
Other Comprehensive Income (Loss)									(8,080)	4,257	(6,214)
Comprehensive income (loss)									(5,884)	11,786	2,871
Total comprehensive income (loss) attributable to noncontrolling interests									0	0	0
Comprehensive income (loss) attributable to AIG									(5,884)	11,786	2,871
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net income									1,907	3,319	3,933
Other Comprehensive Income (Loss)									2,320	2,794	(4,689)
Comprehensive income (loss)									4,227	6,113	(756)
Total comprehensive income (loss) attributable to noncontrolling interests									0	0	0
Comprehensive income (loss) attributable to AIG									4,227	6,113	(756)
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income									4,015	9,660	7,761
Other Comprehensive Income (Loss)									54,757	3,235	(6,719)
Comprehensive income (loss)									58,772	12,895	1,042
Total comprehensive income (loss) attributable to noncontrolling interests									20	(5)	(16)
Comprehensive income (loss) attributable to AIG									58,752	12,900	1,058
Reclassifications and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income									(5,896)	(12,984)	(11,687)
Other Comprehensive Income (Loss)									(57,083)	(6,029)	11,385
Comprehensive income (loss)									(62,979)	(19,013)	(302)
Total comprehensive income (loss) attributable to noncontrolling interests									0	0	0
Comprehensive income (loss) attributable to AIG									$ (62,979)	$ (19,013)	$ (302)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ 2,877	$ 5,007	$ 5,865
Cash flows from investing activities:
Sales of investments	72,616	66,104	77,094
Proceeds from divested businesses, net	0	2,348	0
Purchase of investments	65,265	(58,110)	(77,887)
Loans to subsidiaries - net	0	0
Contributions to subsidiaries - net	0	0
Net change in restricted cash	1,457	(1,447)	1,244
Net change in short-term investments	1,163	8,760	7,842
Other, net	(1,509)	(1,023)	(1,194)
Net cash provided by investing activities	8,462	14,284	7,099
Cash flows from financing activities:
Issuance of long-term debt	6,867	6,687	5,235
Repayments of long-term debt	(9,805)	(16,160)	(14,197)
Purchase of Common Stock	(10,691)	(4,902)	(597)
Cash dividends paid	(1,028)	(712)	(294)
Other, net	3,228	(4,701)	(1,905)
Net cash provided by (used in) financing activities	(11,429)	(19,788)	(11,758)
Effect of exchange rate changes on cash	(39)	(74)	(92)
Net increase (decrease) in cash	(129)	(571)	1,114
Cash at beginning of year	1,758	2,241	1,151
Reclassification to assets held for sale	0	88	(24)
Cash at end of year	1,629	1,758	2,241
Interest:
Third party	(1,368)	(3,367)	(3,856)
Intercompany	0	0	0
Taxes:
Income tax authorities	(511)	(737)	(796)
Intercompany	0	0	0
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	4,443	9,316	6,422
Cash flows from investing activities:
Sales of investments	7,767	3,036	1,425
Proceeds from divested businesses, net	0
Purchase of investments	(1,881)	(1,051)	(5,506)
Loans to subsidiaries - net	(83)	446	3,660
Contributions to subsidiaries - net	565	(148)	(2,081)
Net change in restricted cash	0	(501)	493
Net change in short-term investments	2,300	5,792	2,361
Other, net	(175)	(141)	130
Net cash provided by investing activities	8,493	7,433	482
Cash flows from financing activities:
Issuance of long-term debt	5,540	3,247	2,015
Repayments of long-term debt	(6,504)	(14,468)	(7,439)
Proceeds from drawdown on the Department of the Treasury Commitment	0	0	0
Issuance of Common Stock	0	0	0
Purchase of Common Stock	(10,691)	(4,902)	(597)
Intercompany loans - net	(201)	110	(123)
Cash dividends paid	(1,028)	(712)	(294)
Net cash provided by (used in) financing activities	(12,928)	(16,753)	(6,955)
Net increase (decrease) in cash	8	(4)	(51)
Cash at beginning of year	26	30	81
Cash at end of year	34	26	30
Interest:
Third party	(1,030)	(1,624)	(1,963)
Intercompany	0	5	(12)
Taxes:
Income tax authorities	(11)	(18)	(161)
Intercompany	829	1,172	288
Payment of FRBNY Credit Facility accrued compounded interest			0
Non-cash financing and investing activities:
Capital contributions in the form of bond available for sale securities			0
Capital contributions to subsidiaries through forgiveness of loans		0	341
Return of capital	0	4,836	0
Return of capital and dividend received in the form of cancellation of intercompany loan			0
Return of capital and dividend received in the form of other bonds securities	2,326	3,088	0
Other capital contributions - net	494	2,457	523
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	2,314	6,155	4,488
Cash flows from investing activities:
Sales of investments	0	0	0
Proceeds from divested businesses, net	0		0
Purchase of investments	0	0	0
Loans to subsidiaries - net	0	0	0
Contributions to subsidiaries - net	0	0	1
Net change in restricted cash	0	0	0
Net change in short-term investments	0	0	0
Other, net	0	0	0
Net cash provided by investing activities	0	0	(1)
Cash flows from financing activities:
Issuance of long-term debt	0	0	0
Repayments of long-term debt	114	477	245
Issuance of Common Stock	0		0
Purchase of Common Stock	0		0
Intercompany loans - net	3	(280)	(273)
Cash dividends paid	2,178	5,358	3,991
Other, net			0
Net cash provided by (used in) financing activities - continuing operations	(2,289)	(6,115)	(4,509)
Net cash provided by (used in) financing activities		(6,115)	(4,509)
Net increase (decrease) in cash	25	40	(22)
Cash at beginning of year	91	51
Cash at end of year	116	91	51
Interest:
Third party	(59)	(87)	(111)
Intercompany	0	(7)	(21)
Taxes:
Intercompany	0	0	(78)
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	1,112	8,979	7,385
Cash flows from investing activities:
Sales of investments	69,726	65,108	78,868
Proceeds from divested businesses, net			0
Purchase of investments	68,261	59,099	75,580
Loans to subsidiaries - net	367	169	395
Contributions to subsidiaries - net		(296)	0
Net change in restricted cash	(1,457)	946	(751)
Net change in short-term investments	1,137	(2,968)	(5,481)
Other, net	(1,334)	(882)	(1,324)
Net cash provided by investing activities	818	7,614	8,591
Cash flows from financing activities:
Issuance of long-term debt	1,327	3,440	3,220
Repayments of long-term debt	3,187	1,215	6,513
Issuance of Common Stock	0		0
Purchase of Common Stock	0		0
Intercompany loans - net	(86)	(445)	(3,659)
Cash dividends paid	2,814	14,085	8,439
Other, net	2,707	(4,821)	694
Net cash provided by (used in) financing activities	(2,053)	(17,126)	(14,697)
Effect of exchange rate changes on cash	(39)	(74)	(92)
Net increase (decrease) in cash	(162)	(607)	1,187
Cash at beginning of year	1,641	2,160
Reclassification to assets held for sale	0	88	(24)
Cash at end of year	1,479	1,641	2,160
Interest:
Third party	(279)	(1,656)	(1,782)
Intercompany	0	2	33
Taxes:
Income tax authorities	(500)	(719)	(635)
Intercompany	(829)	(1,172)	(210)
Aer Cap
Non-cash financing and investing activities:
Consideration received from sale of shares	500	0	0
AIG Capital Corporation [Member]
Non-cash financing and investing activities:
Return of capital		4,800
Reclassifications and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	(4,992)	(19,443)	(12,430)
Cash flows from investing activities:
Sales of investments	(4,877)	(2,040)	(3,199)
Proceeds from divested businesses, net	0	0	0
Purchase of investments	(4,877)	(2,040)	(3,199)
Loans to subsidiaries - net	(284)	(615)	(4,055)
Contributions to subsidiaries - net	565	148	(2,082)
Net change in restricted cash	0	0	0
Net change in short-term investments	0	0	0
Other, net	0	0	0
Net cash provided by investing activities	(849)	(763)	(1,973)
Cash flows from financing activities:
Issuance of long-term debt	0	0	0
Repayments of long-term debt	0	0	0
Issuance of Common Stock	0	0	0
Purchase of Common Stock	0	0	0
Intercompany loans - net	284	615	4,055
Cash dividends paid	(4,992)	(19,443)	(12,430)
Other, net	565	148	(2,082)
Net cash provided by (used in) financing activities	5,841	20,206	14,403
Effect of exchange rate changes on cash	0	0	0
Net increase (decrease) in cash	0	0
Reclassification to assets held for sale	0	0
Cash at end of year	0
Interest:
Third party	0	0	0
Intercompany	0	0	0
Taxes:
Income tax authorities	0	0	0
Intercompany	$ 0	$ 0	$ 0

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Billions		12 Months Ended
	Feb. 11, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 16, 2015
Subsequent Event [Line Items]
Dividends declared per common share		$ 0.81	$ 0.5	$ 0.2
Aggregate remaining authorization amount of common Stock share repurchase		$ 3.3			$ 4.1
Subsequent event
Subsequent Event [Line Items]
Dividends declared per common share	$ 0.32
Authorized amount of common Stock share repurchase	$ 5.0
Aggregate remaining authorization amount of common Stock share repurchase	$ 5.8
Date Dividends Declared		Feb. 11, 2016
Date Dividends To Be Paid		Mar. 28, 2016
Date of Shareholders of Record		Mar. 14, 2016

Schedule I Summary of Investments - Other than Investments in Related Parties (Details) $ in Millions	Dec. 31, 2015 USD ($)
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	$ 330,213
Fair Value	339,715
Amount at which shown in the Balance Sheet	339,663
Fixed maturity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	257,752
Fair Value	265,027
Amount at which shown in the Balance Sheet	265,027
U.S. government and government sponsored entities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	5,066
Fair Value	5,212
Amount at which shown in the Balance Sheet	5,212
Obligations of states, municipalities and political subdivisions
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	26,079
Fair Value	27,399
Amount at which shown in the Balance Sheet	27,399
Non-U.S. government
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	17,803
Fair Value	18,245
Amount at which shown in the Balance Sheet	18,245
Public utilities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	17,713
Fair Value	18,646
Amount at which shown in the Balance Sheet	18,646
All other corporate and debt securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	117,835
Fair Value	119,377
Amount at which shown in the Balance Sheet	119,377
Mortgage-backed, asset-backed and collateralized
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	73,256
Fair Value	76,148
Amount at which shown in the Balance Sheet	76,148
Equity securities and mutual funds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	2,300
Fair Value	3,836
Amount at which shown in the Balance Sheet	3,836
Common Stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	1,834
Fair Value	3,322
Amount at which shown in the Balance Sheet	3,322
Public utilities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	5
Fair Value	5
Amount at which shown in the Balance Sheet	5
Banks, trust and insurance companies
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	1,493
Fair Value	2,835
Amount at which shown in the Balance Sheet	2,835
Industrial, miscellaneous and all other
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	336
Fair Value	482
Amount at which shown in the Balance Sheet	482
Preferred stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	19
Fair Value	22
Amount at which shown in the Balance Sheet	22
Mutual funds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	447
Fair Value	492
Amount at which shown in the Balance Sheet	492
Mortgage and other loans receivable, net of allowance
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	29,565
Fair Value	30,344
Amount at which shown in the Balance Sheet	29,565
Other invested assets
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	29,155
Fair Value	29,067
Amount at which shown in the Balance Sheet	29,794
Short-term investments, at cost
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	10,132
Fair Value	10,132
Amount at which shown in the Balance Sheet	10,132
Derivative assets
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost	1,309
Fair Value	1,309
Amount at which shown in the Balance Sheet	$ 1,309

Schedule II Condensed Financial Information of Registrant - Parent Company Only (Details - Balance Sheets) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets:
Short-term investments	$ 10,132	$ 11,243
Other Investments	29,794	34,518
Total investments	338,354	355,766
Cash	1,629	1,758	$ 2,241	$ 1,151
Loans to subsidiaries	0
Deferred income taxes	20,394	19,339
Investment in consolidated subsidiaries	0
Other assets	11,390	12,153
Total assets	496,943	515,581
Liabilities:
Outstanding debt	29,350	31,217
Loans from subsidiaries	0
Total liabilities	406,733	408,309
AIG Shareholders' equity:
Common stock	4,766	4,766
Treasury stock	(30,098)	(19,218)
Additional paid-in capital	81,510	80,958
Retained earnings	30,943	29,775
Accumulated other comprehensive income (loss)	2,537	10,617
Total AIG shareholders' equity	89,658	106,898
Total liabilities and equity	496,943	515,581
Parent Company [Member]
Assets:
Short-term investments	4,042	6,078
Other Investments	7,425	11,415
Total investments	11,467	17,493
Cash	34	26	$ 30	$ 81
Loans to subsidiaries	35,927	31,070
Due from affiliates - net	1,967	3,561
Intercompany tax receivable	3,234	0
Deferred income taxes	17,564	18,309
Investment in consolidated subsidiaries	51,151	62,811
Other assets	633	1,965
Total assets	121,977	135,235
Liabilities:
Outstanding debt	19,876	21,190
Loans from subsidiaries	574	951
Other liabilities (includes intercompany derivative liabilities of $144 in 2015 and $275 in 2014)	3,885	5,853
Total liabilities	32,319	28,337
Intercompany derivative liabilities	144	275
Due to affiliate	4,059	0
Loans and mortgages payable	0	0
Intercompany tax payable	3,916	343
Deferred tax liabilities	9	0
AIG Shareholders' equity:
Common stock	4,766	4,766
Treasury stock	(30,098)	(19,218)
Additional paid-in capital	81,510	80,958
Retained earnings	30,943	29,775
Accumulated other comprehensive income (loss)	2,537	10,617
Total AIG shareholders' equity	89,658	106,898
Total liabilities and equity	121,977	135,235
Parent Company [Member] \| Series AIGFP
Liabilities:
Outstanding debt	31	33
Parent Company [Member] \| MIP
Liabilities:
Outstanding debt	1,372	2,870
Parent Company [Member] \| Notes and bonds payable
Liabilities:
Outstanding debt	17,136	15,821
Parent Company [Member] \| Junior subordinated debt
Liabilities:
Outstanding debt	$ 1,337	$ 2,466

Schedule II Condensed Financial Information of Registrant - Parent Company Only (Details - Statements of Income) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Net realized capital gains (losses)									$ 776	$ 739	$ 1,939
Other income									4,088	6,117	6,866
Expenses
Interest expense									1,281	1,718	2,142
Net losses on extinguishment of debt	$ 0	$ 346	$ 342	$ 68	$ 1,268	$ 742	$ 34	$ 238	756	2,282	651
Income from continuing operations before income tax expense (benefit)	(2,932)	(115)	2,552	3,776	729	3,019	4,480	2,273	3,281	10,501	9,368
Income tax expense (benefit)									1,059	2,927	360
Net income (loss) attributable to AIG from continuing operations									2,196	7,579	9,001
Income (loss) from discontinued operations	0	(17)	16	1	(35)	2	30	(47)	0	(50)	84
Net income attributable to AIG	$ (1,841)	$ (231)	$ 1,800	$ 2,468	$ 655	$ 2,192	$ 3,073	$ 1,609	2,196	7,529	9,085
Parent Company [Member]
Revenues:
Equity in undistributed net income (loss) of consolidated subsidiaries									(2,929)	(5,573)	(2,226)
Dividend income from consolidated subsidiaries									6,883	15,023	9,864
Interest income									342	305	387
Net realized capital gains (losses)									(587)	8	169
Other income									333	1,345	931
Expenses
Interest expense									1,049	1,507	1,938
Net losses on extinguishment of debt									703	2,248	580
Other expenses									1,178	1,546	1,520
Income from continuing operations before income tax expense (benefit)									1,112	5,807	5,087
Income tax expense (benefit)									(1,086)	(1,735)	(4,012)
Net income (loss) attributable to AIG from continuing operations									2,198	7,542	9,099
Income (loss) from discontinued operations									(2)	(13)	(14)
Net income attributable to AIG									$ 2,196	$ 7,529	$ 9,085

Schedule II Condensed Financial Information of Registrant - Parent Company Only (Details - Statements of Comprehensive Income (Loss)) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Net income	$ (1,841)	$ (231)	$ 1,800	$ 2,468	$ 655	$ 2,192	$ 3,073	$ 1,609	$ 2,196	$ 7,529	$ 9,085
Other Comprehensive Income (Loss)									(8,086)	4,257	(6,237)
Comprehensive income attributable to AIG									(5,884)	11,786	2,871
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net income									2,196	7,529	9,085
Other Comprehensive Income (Loss)									(8,080)	4,257	(6,214)
Comprehensive income attributable to AIG									$ (5,884)	$ 11,786	$ 2,871

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Schedule II Condensed Financial Information of Registrant - Parent Company Only (Details - Statements of Cash Flows) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	$ 2,877	$ 5,007	$ 5,865
Cash flows from investing activities:
Proceeds from divested businesses, net	0	2,348	0
Purchase of investments	65,265	(58,110)	(77,887)
Net change in restricted cash	1,457	(1,447)	1,244
Net change in short-term investments	1,163	8,760	7,842
Contributions to subsidiaries - net	0	0
Payments received on mortgages and other loan receivables	5,104	3,856	3,420
Loans to subsidiaries - net	0	0
Other, net	(1,509)	(1,023)	(1,194)
Net cash provided by investing activities	8,462	14,284	7,099
Cash flows from financing activities:
Issuance of long-term debt	6,867	6,687	5,235
Repayments of long-term debt	(9,805)	(16,160)	(14,197)
Cash dividends paid	(1,028)	(712)	(294)
Purchase of Common Stock	(10,691)	(4,902)	(597)
Other, net	(818)	6,420	1,358
Net cash provided by (used in) financing activities	(11,429)	(19,788)	(11,758)
Net increase (decrease) in cash	(129)	(571)	1,114
Cash at beginning of year	1,758	2,241	1,151
Cash at end of year	1,629	1,758	2,241
Interest:
Third party	(1,368)	(3,367)	(3,856)
Intercompany	0	0	0
Taxes:
Income tax authorities	(511)	(737)	(796)
Intercompany	0	0	0
Parent Company [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	4,443	9,316	6,422
Cash flows from investing activities:
Sales and maturities of investments	7,609	2,996	1,074
Proceeds from divested businesses, net	0
Purchase of investments	(1,881)	(1,051)	(5,506)
Net change in restricted cash	0	(501)	493
Net change in short-term investments	2,300	5,792	2,361
Contributions to subsidiaries - net	565	(148)	(2,081)
Payments received on mortgages and other loan receivables	158	40	351
Loans to subsidiaries - net	(83)	446	3,660
Other, net	(175)	(141)	130
Net cash provided by investing activities	8,493	7,433	482
Cash flows from financing activities:
Issuance of long-term debt	5,540	3,247	2,015
Repayments of long-term debt	(6,504)	(14,468)	(7,439)
Proceeds from drawdown on the Department of the Treasury Commitment	0	0	0
Issuance of Common Stock	0	0	0
Cash dividends paid	(1,028)	(712)	(294)
Loans from subsidiaries - net	(201)	110	(123)
Purchase of Common Stock	(10,691)	(4,902)	(597)
Other, net	(44)	(28)	(517)
Net cash provided by (used in) financing activities	(12,928)	(16,753)	(6,955)
Net increase (decrease) in cash	8	(4)	(51)
Cash at beginning of year	26	30	81
Cash at end of year	34	26	30
Interest:
Third party	(1,030)	(1,624)	(1,963)
Intercompany	0	5	(12)
Taxes:
Income tax authorities	(11)	(18)	(161)
Intercompany	829	1,172	288
Non-cash investing/financing activities:
Capital contributions in the form of available for sale securities			0
Capital contributions to subsidiaries through forgiveness of loans		0	341
Other capital contributions - net	494	2,457	523
Return of capital	0	4,836	0
Return of capital and dividend received in the form of cancellation of intercompany loan			0
Return of capital and dividend received in the form of other bonds securities	$ 2,326	3,088	0
Payment of accrued compounded interest of FRBNY Credit Facility			$ 0
AIG Capital Corporation [Member]
Non-cash investing/financing activities:
Return of capital		$ 4,800

Schedule III Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplementary Insurance Information, by Segment [Line Items]
Deferred Policy Acquisition Costs	$ 11,115	$ 9,827
Liability for Unpaid Claims and Claims Adjustment Expense, Future Policy Benefits	118,527	120,009
Reserve for Unearned Premiums	21,318	21,324
Policy and Contract Claims	862	829
Premiums and Policy Fees	39,410	39,869	$ 39,839
Net Investment Income	14,053	16,079	15,810
Losses and Loss Expenses Incurred, Benefits	35,076	32,049	33,395
Amortization of Deferred Policy Acquisition Costs	5,236	5,330	5,157
Other Operating Expenses	10,788	10,887	10,883
Net Premiums Written	33,066	34,456	34,628
Corporate and Other
Supplementary Insurance Information, by Segment [Line Items]
Deferred Policy Acquisition Costs	17	18
Liability for Unpaid Claims and Claims Adjustment Expense, Future Policy Benefits	6,421	166
Reserve for Unearned Premiums	357	(1)
Policy and Contract Claims	11	11
Premiums and Policy Fees	48	72	76
Net Investment Income	257	604	(195)
Losses and Loss Expenses Incurred, Benefits	860	915	1,546
Amortization of Deferred Policy Acquisition Costs	7	59	(97)
Other Operating Expenses	0	6	8
Net Premiums Written	0	0	0
Non-life insurance companies
Supplementary Insurance Information, by Segment [Line Items]
Deferred Policy Acquisition Costs	2,631	2,551
Liability for Unpaid Claims and Claims Adjustment Expense, Future Policy Benefits	69,213	77,839
Reserve for Unearned Premiums	20,961	21,325
Policy and Contract Claims	0	0
Life insurance companies
Supplementary Insurance Information, by Segment [Line Items]
Deferred Policy Acquisition Costs	8,467	7,258
Liability for Unpaid Claims and Claims Adjustment Expense, Future Policy Benefits	42,893	42,004
Reserve for Unearned Premiums	0	0
Policy and Contract Claims	851	818
Commercial Insurance
Supplementary Insurance Information, by Segment [Line Items]
Premiums and Policy Fees	22,720	22,408	22,209
Net Investment Income	5,474	6,393	6,653
Losses and Loss Expenses Incurred, Benefits	20,425	16,985	17,415
Amortization of Deferred Policy Acquisition Costs	2,342	2,512	2,418
Other Operating Expenses	3,775	3,794	4,049
Net Premiums Written	21,486	22,044	21,928
Consumer Insurance
Supplementary Insurance Information, by Segment [Line Items]
Premiums and Policy Fees	16,642	17,389	17,554
Net Investment Income	8,322	9,082	9,352
Losses and Loss Expenses Incurred, Benefits	13,791	14,149	14,434
Amortization of Deferred Policy Acquisition Costs	2,887	2,759	2,836
Other Operating Expenses	7,013	7,087	6,826
Net Premiums Written	$ 11,580	$ 12,412	$ 12,700

Schedule IV Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
Schedule IV Reinsurance (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross Amount	$ 42,931	$ 43,425	$ 43,984
Ceded to Other Companies	8,360	8,979	10,134
Assumed from Other Companies	2,979	3,419	4,319
Net Amount	$ 37,550	$ 37,865	$ 38,169
Percent of Amount Assumed to Net	7.90%	9.00%	11.30%
Reportable Segments \| Non-life insurance companies
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross Amount	$ 37,698	$ 39,375	$ 39,833
Ceded to Other Companies	7,604	8,318	9,514
Assumed from Other Companies	2,972	3,399	4,306
Net Amount	$ 33,066	$ 34,456	$ 34,625
Percent of Amount Assumed to Net	9.00%	9.90%	12.40%
Reportable Segments \| Life insurance companies
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross Amount	$ 5,227	$ 4,039	$ 4,142
Ceded to Other Companies	756	661	620
Assumed from Other Companies	7	20	13
Net Amount	$ 4,478	$ 3,398	$ 3,535
Percent of Amount Assumed to Net	0.20%	0.60%	0.40%
Run-off Insurance Lines
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross Amount	$ 6	$ 11	$ 9
Net Amount	6	11	9
Long-duration insurance in force
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Gross Amount, Long-duration insurance in force	1,051,571	1,033,281	946,743
Long-duration insurance in force ceded	177,025	180,178	122,012
Contracts in Force Assumed	372	410	427
Net Amount, Long-duration insurance in force	874,918	$ 853,513	$ 825,158
Percent of Amount Assumed to Net		0.00%	0.10%
Ceded to Other Companies	177,025	$ 180,178	$ 122,012
Assumed from Other Companies	372	410	427
Net Amount	$ 874,918	$ 853,513	$ 825,158
Percent of Amount Assumed to Net	0.00%	0.00%	0.10%

Schedule V Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Divested Businesses
Valuation and Qualifying Accounts
Net change	$ 3	$ 1	$ (6)
Allowance for mortgage and other loans receivable
Valuation and Qualifying Accounts
Balance at the beginning of the year	271	312	405
Charged to costs and expenses	58	(8)	20
Charge offs	(29)	(68)	(116)
Divested Business	3	1	(6)
Other changes	5	34	9
Balance at the end of the year	308	271	312
Allowance for mortgage and other loans receivable \| Segment Discontinued Operations
Valuation and Qualifying Accounts
Net change		0	0
Allowance for premiums and insurances balances receivable
Valuation and Qualifying Accounts
Balance at the beginning of the year	431	560	624
Charged to costs and expenses	35	35	14
Charge offs	(120)	(99)	(74)
Other changes	(13)	(65)	(4)
Balance at the end of the year	333	431	560
Allowance for reinsurance assets
Valuation and Qualifying Accounts
Balance at the beginning of the year	258	276	338
Charged to costs and expenses	90	4	(42)
Charge offs	(67)	(3)	(31)
Other changes	(9)	(19)	11
Balance at the end of the year	272	258	276
Federal and foreign valuation allowance for deferred tax assets
Valuation and Qualifying Accounts
Balance at the beginning of the year	1,739	3,596	8,036
Charged to costs and expenses	110	(181)	(3,165)
Charge offs	0	0	0
Other changes	1,163	(1,676)	(1,235)
Balance at the end of the year	3,012	1,739	3,596
Federal and foreign valuation allowance for deferred tax assets \| Segment Discontinued Operations
Valuation and Qualifying Accounts
Net change	$ 0	$ 0	$ (40)

FAIR VALUE MEASUREMENTS (Details - Net realized and unrealized gains and losses included in income related to Level 3 assets and liabilities) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	$ 2,405	$ 2,462
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(37)	(659)
Policyholder contract deposits
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(315)	(1,127)
Policyholder contract deposits \| Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0
Policyholder contract deposits \| Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(315)	(1,127)
Policyholder contract deposits \| Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	0
Derivative liabilities, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	268	374
Derivative liabilities, net \| Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	0	68
Derivative liabilities, net \| Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	(1)	8
Derivative liabilities, net \| Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	269	298
Long-term debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	10	94
Long-term debt \| Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, liabilities	10	94
Bonds available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	1,294	1,180
Bonds available for sale \| Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	1,227	1,236
Bonds available for sale \| Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	(49)	(107)
Bonds available for sale \| Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	116	51
Other bond securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	675	1,132
Other bond securities \| Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	44	95
Other bond securities \| Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	3	0
Other bond securities \| Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	628	1,037
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	2
Equity securities \| Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0
Equity securities \| Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	2
Equity securities \| Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0
Other equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	(1)	0
Other equity securities \| Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0
Other equity securities \| Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	0
Other equity securities \| Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	(1)
Other invested assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	435	150
Other invested assets \| Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	45	175
Other invested assets \| Net realized capital gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	324	(28)
Other invested assets \| Other Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets	$ 66	$ 3

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($)
CONSOLIDATED STATEMENTS OF EQUITY
Net gains (losses) attributable to redeemable noncontrolling interests	$ 2

FAIR VALUE MEASUREMENTS (Details - Long Term Debt)	12 Months Ended
FAIR VALUE MEASUREMENTS (Details - Long Term Debt)	Dec. 31, 2015
Borrowings supported by assets \| GIAs
Debt Instrument [Line Items]
Range of guaranteed minimum return rates (as a percent)	7.62%

INVESTMENTS (Details - Equity method investments)	12 Months Ended
INVESTMENTS (Details - Equity method investments)	Dec. 31, 2015
Minimum
Other Invested Assets - Equity Method Investments
Investee's reporting period prior to the end of entity's reporting period	1 month
Maximum
Other Invested Assets - Equity Method Investments
Investee's reporting period prior to the end of entity's reporting period	3 months

INVESTMENTS (Details - AIA IPO) - shares	12 Months Ended
INVESTMENTS (Details - AIA IPO) - shares	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsidiary, Sale of Stock [Line Items]
Subsequent sale of ordinary shares	371,806	41,551	58,787

OWNERSHIP (Details)	Dec. 31, 2015 shares
The Vanguard Group
Beneficial Ownership [Line Items]
Ownership interest (as a percent)	5.50%
Common stock deemed to be beneficially owned (in shares)	67,605,730
Blackrock, Inc
Beneficial Ownership [Line Items]
Ownership interest (as a percent)	6.50%
Common stock deemed to be beneficially owned (in shares)	80,762,613