Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2016	Jul. 29, 2016
Document and Entity Information
Entity Registrant Name	AMERICAN INTERNATIONAL GROUP INC
Entity Central Index Key	0000005272
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,070,659,944
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fixed maturity securities:
Bonds available for sale, at fair value (amortized cost: 2016 - $244,450; 2015 - $240,968)	$ 262,089	$ 248,245
Other bond securities, at fair value (See Note 5)	15,335	16,782
Equity Securities:
Common and preferred stock available for sale, at fair value (cost: 2016 - $1,246; 2015 - $1,379)	1,642	2,915
Other common and preferred stock, at fair value (See Note 5)	661	921
Mortgage and other loans receivable, net of allowance (portion measured at fair value: 2016 - $11; 2015 - $11)	31,261	29,565
Other invested assets (portion measured at fair value: 2016 - $7,177; 2015 - $8,912)	27,345	29,794
Short-term investments (portion measured at fair value: 2016 - $3,949; 2015 - $2,591)	12,334	10,132
Total investments	350,667	338,354
Cash	1,784	1,629
Accrued investment income	2,590	2,623
Premiums and other receivables, net of allowance	12,078	11,451
Reinsurance assets, net of allowance	21,441	20,413
Deferred income taxes	18,542	20,394
Deferred policy acquisition costs	10,487	11,115
Other assets, including restricted cash of $191 in 2016 and $170 in 2015	12,188	11,289
Separate account assets, at fair value	80,572	79,574
Total assets	510,349	496,842
Liabilities:
Liability for unpaid losses and loss adjustment expenses	74,143	74,942
Unearned premiums	22,165	21,318
Future policy benefits for life and accident and health insurance contracts	45,982	43,585
Policyholder contract deposits (portion measured at fair value: 2016 - $4,016; 2015 - $2,325)	131,936	127,588
Other policyholder funds (portion measured at fair value: 2016 - $5; 2015 - $6)	4,292	4,212
Other liabilities (portion measured at fair value: 2016 - $241; 2015 - $62)	27,393	26,164
Long-term debt (portion measured at fair value: 2016 - $3,747; 2015 - $3,670)	33,329	29,249
Separate account liabilities	80,572	79,574
Total liabilities	419,812	406,632
Contingencies, commitments and guarantees (see Note 9)
AIG shareholders' equity:
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2016 - 1,906,671,492 and 2015 - 1,906,671,492	4,766	4,766
Treasury stock, at cost; 2016 - 823,982,130 shares; 2015 - 712,754,875 shares of common stock	(36,262)	(30,098)
Additional paid-in capital	81,232	81,510
Retained earnings	31,951	30,943
Accumulated other comprehensive income (loss)	8,259	2,537
Total AIG shareholders' equity	89,946	89,658
Non-redeemable noncontrolling interests	591	552
Total equity	90,537	90,210
Total liabilities and equity	$ 510,349	$ 496,842

CONSOLIDATED BALANCE SHEETS (Parenthetical - assets and liabilities) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Assets:
Bonds available for sale, amortized cost	$ 244,450	$ 240,968
Common and preferred stock available for sale, cost	1,246	1,379
Mortgage and other loans receivable, portion measured at fair value	11	11
Other invested assets, portion measured at fair value	7,177	8,912
Short-term investments, portion measured at fair value	3,949	2,591
Other assets, restricted cash	191	170
Liabilities:
Policyholder contract deposits, portion measured at fair value	4,016	2,325
Other liabilities, portion measured at fair value	241	62
Long-term debt, portion measured at fair value	3,747	3,670
Other policyholder funds, portion measured at fair value	$ 5	$ 6

CONSOLIDATED BALANCE SHEETS (Parenthetical - equity) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
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	823,982,130	712,754,875

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Premiums	$ 8,751	$ 9,545	$ 17,557	$ 18,367
Policy fees	696	688	1,383	1,365
Net investment income	3,683	3,826	6,696	7,664
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities	(65)	(148)	(274)	(235)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income (loss)	(29)	(4)	(22)	(14)
Net other-than-temporary impairments on available for sale securities recognized in net income	(94)	(152)	(296)	(249)
Other realized capital gains	1,136	278	232	1,716
Total net realized capital gains (losses)	1,042	126	(64)	1,467
Other income	552	1,514	931	2,811
Total revenues	14,724	15,699	26,503	31,674
Benefits, losses and expenses:
Policyholder benefits and losses incurred	6,872	7,100	13,259	13,651
Interest credited to policyholder account balances	961	942	1,911	1,877
Amortization of deferred policy acquisition costs	1,345	1,356	2,607	2,706
General operating and other expenses	2,586	3,090	5,589	6,039
Interest expense	320	316	626	656
Loss on extinguishment of debt	7	342	90	410
Net (gain) loss on sale of properties and divested businesses	(225)	1	(223)	7
Total benefits, losses and expenses	11,866	13,147	23,859	25,346
Income (loss) from continuing operations before income tax expense (benefit)	2,858	2,552	2,644	6,328
Income tax expense (benefit):
Income tax expense (benefit)	924	777	866	2,077
Income from continuing operations	1,934	1,775	1,778	4,251
Income (loss) from discontinued operations, net of income tax expense	(10)	16	(57)	17
Net income (loss)	1,924	1,791	1,721	4,268
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	(9)	(9)	0
Net income attributable to AIG	1,913	1,800	1,730	4,268
Net income (loss) attributable to AIG common shareholders	$ 1,913	$ 1,800	$ 1,730	$ 4,268
Basic:
Income from continuing operations	$ 1.73	$ 1.34	$ 1.57	$ 3.16
Income (loss) from discontinued operations - basic (in dollars per share)	(0.01)	0.01	(0.05)	0.01
Net income attributable to AIG	1.72	1.35	1.52	3.17
Diluted:
Income from continuing operations	1.69	1.31	1.54	3.09
Income (loss) from discontinued operations	(0.01)	0.01	(0.05)	0.01
Net income attributable to AIG	$ 1.68	$ 1.32	$ 1.49	$ 3.1
Weighted average shares outstanding:
Basic	1,113,587,927	1,329,157,366	1,135,068,193	1,347,452,833
Diluted	1,140,045,973	1,365,390,431	1,163,089,748	1,376,325,971
Dividends declared per common share	$ 0.32	$ 0.125	$ 0.64	$ 0.25

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ 1,924	$ 1,791	$ 1,721	$ 4,268
Other comprehensive income (loss), net of tax
Change in unrealized appreciation of fixed maturity investments on which other-than-temporary credit impairments were recognized	22	(36)	(327)	(108)
Change in unrealized appreciation (depreciation) of all other investments	2,409	(2,991)	5,836	(2,452)
Change in foreign currency translation adjustments	313	(37)	221	(496)
Change in retirement plan liabilities adjustment	(10)	27	(8)	56
Other comprehensive income (loss)	2,734	(3,037)	5,722	(3,000)
Comprehensive income (loss)	4,658	(1,246)	7,443	1,268
Total comprehensive income (loss) attributable to noncontrolling interests	11	(9)	(9)	(3)
Comprehensive income attributable to AIG	$ 4,647	$ (1,237)	$ 7,452	$ 1,271

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, 2014	$ 107,272	$ 106,898	$ 4,766	$ (19,218)	$ 80,958	$ 29,775	$ 10,617	$ 374
Increase (Decrease) in Stockholders' Equity
Purchase of common stock	(3,947)	(3,947)	0	(3,947)
Net income attributable to AIG or other noncontrolling interests	4,268	4,268	0	0	0	4,268	0	0
Dividends	(335)	(335)				(335)
Other Comprehensive Income (Loss)	(3,000)	(2,997)	0	0	0	0	(2,997)	(3)
Current and deferred income taxes	(12)	(12)			(12)
Net increase due to acquisitions and consolidations	9							9
Contributions from noncontrolling interests	0	0	0	0	0	0	0	0
Distributions to noncontrolling interests	(3)	0	0	0	0	0	0	(3)
Other	390	383	0	0	384	(1)	0	7
Balance at Jun. 30, 2015	104,642	104,258	4,766	(23,165)	81,330	33,707	7,620	384
Balance at Dec. 31, 2015	90,210	89,658	4,766	(30,098)	81,510	30,943	2,537	552
Increase (Decrease) in Stockholders' Equity
Common stock issued under stock plans	(88)	(88)		84	(172)
Purchase of common stock	(6,248)	(6,248)	0	(6,248)	0	0	0	0
Net income attributable to AIG or other noncontrolling interests	1,721	1,730	0	0	0	1,730	0	(9)
Dividends	(713)	(713)	0	0	0	(713)	0	0
Other Comprehensive Income (Loss)	5,722	5,722	0	0	0	0	5,722	0
Current and deferred income taxes	19	19			19
Net increase due to acquisitions and consolidations	44							44
Contributions from noncontrolling interests	3	0	0	0	0	0	0	3
Distributions to noncontrolling interests	(15)	0	0	0	0	0	0	(15)
Other	(118)	(134)	0	0	(125)	(9)	0	16
Balance at Jun. 30, 2016	$ 90,537	$ 89,946	$ 4,766	$ (36,262)	$ 81,232	$ 31,951	$ 8,259	$ 591

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ 1,721	$ 4,268
(Income) loss from discontinued operations	57	(17)
Noncash revenues, expenses, gains and losses included in income:
Net gains on sales of securities available for sale and other assets	(907)	(666)
Net (gains) losses on sales of divested businesses	(223)	7
Net losses on extinguishment of debt	90	410
Unrealized gains in earnings - net	1,130	(1,425)
Equity in income from equity method investments, net of dividends or distributions	145	(715)
Depreciation and other amortization	2,270	2,410
Impairments of assets	636	471
Changes in operating assets and liabilities:
Insurance reserves	313	(420)
Premiums and other receivables and payables - net	(614)	(1,359)
Reinsurance assets and funds held under reinsurance treaties	(988)	573
Capitalization of deferred policy acquisition costs	(2,554)	(2,880)
Current and deferred income taxes - net	750	1,739
Other, net	(1,255)	(1,903)
Total adjustments	(1,207)	(3,758)
Net cash provided by operating activities	571	493
Sales or distribution of:
Available for sale investments	13,540	14,144
Other securities	2,246	3,998
Other invested assets	3,687	6,218
Maturities of fixed maturity securities available for sale	12,350	12,176
Principal payments received on and sales of mortgage and other loans receivable	2,964	2,470
Purchases of:
Available for sale investments	(27,573)	(24,198)
Other securities	(381)	(583)
Other invested assets	(1,602)	(1,743)
Mortgage and other loans receivable	(5,081)	(4,459)
Net change in restricted cash	(78)	1,462
Net change in short-term investments	(1,755)	(2,693)
Other, net	1,419	(1,506)
Net cash provided by investing activities	(264)	5,286
Proceeds from (payments for)
Policyholder contract deposits	9,539	7,541
Policyholder contract withdrawals	(6,787)	(7,225)
Issuance of long-term debt	6,688	2,774
Repayments of long-term debt	(2,919)	(3,701)
Issuance of Common Stock	0	0
Purchase of Common Stock	(6,248)	(3,743)
Dividends paid	(713)	(335)
Other, net	250	(877)
Net cash provided by (used in) financing activities	(190)	(5,566)
Effect of exchange rate changes on cash	38	(34)
Net increase (decrease) in cash	155	179
Cash at beginning of year	1,629	1,758
Cash at end of year	$ 1,784	$ 1,937

Supplementary Disclosure of Consolidated Cash Flow Information - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash paid during the period for:
Interest	$ 650	$ 760
Taxes	117	338
Non-cash investing/financing activities:
Interest credited to policyholder contract deposits included in financing activities	$ 1,797	1,826
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	6 Months Ended
BASIS OF PRESENTATION	Jun. 30, 2016
BASIS OF PRESENTATION
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION American International Group, Inc. (AIG) is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG Common Stock, par value $2.50 per share (AIG Common Stock), is listed on the New York Stock Exchange (NYSE: AIG) and the Tokyo Stock Exchange. Unless the context indicates otherwise, the terms “AIG,” “we,” “us” or “our” mean American International Group, Inc. and its consolidated subsidiaries and the term “AIG Parent” means American International Group, Inc. and not any of its consolidated subsidiaries. These unaudited Condensed Consolidated Financial Statements do not include all disclosures that are normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) and should be read in conjunction with the audited Consolidated Financial Statements and the related notes included in our Annual Report on Form 10-K for the year ended December 31, 2015 (2015 Annual Report). The condensed consolidated financial information as of December 31, 2015 included herein has been derived from the audited Consolidated Financial Statements in the 2015 Annual Report. Certain of our foreign subsidiaries included in the Condensed 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 Condensed Consolidated Financial Statements has been considered for adjustment and/or disclosure. In the opinion of management, these Condensed Consolidated Financial Statements contain normal recurring adjustments, including eliminations of material intercompany accounts and transactions, necessary for a fair statement of the results presented herein. Interim-period operating results may not be indicative of the operating results for a full year. We evaluated the need to recognize or disclose events that occurred subsequent to June 30, 2016 and prior to the issuance of these Condensed Consolidated Financial Statements. Sale of ILFC On May 14, 2014, we completed the sale of 100 percent of the common stock of International Lease Finance Corporation (ILFC) to AerCap Ireland Limited, a wholly owned subsidiary of AerCap Holdings N.V. (AerCap), in exchange for total consideration of approximately $7.6 billion, including cash and 97.6 million newly issued AerCap common shares (the AerCap Transaction). The total value of the consideration was based in part on AerCap’s closing price per share of $47.01 on May 13, 2014. 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.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Standards Adopted During 2016 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. We adopted the standard prospectively on its required effective date of January 1, 2016. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity In August 2014, the FASB issued an accounting standard that allows a reporting entity to measure the financial assets and financial liabilities of a qualifying consolidated collateralized financing entity using the fair value of either its financial assets or financial liabilities, whichever is more observable. We adopted the standard retrospectively on its required effective date of January 1, 2016. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or 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. We adopted the standard prospectively on its required effective date of January 1, 2016. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or 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. We adopted this standard prospectively on its required effective date of January 1, 2016. The adoption of this standard did not 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. We adopted this standard on a retrospective basis on January 1, 2016, its required effective date. Because the new standard did not affect accounting recognition or measurement of debt issuance costs, the adoption of the standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or its Equivalent) In May 2015, the FASB amended guidance on fair value disclosures for investments for which fair value is measured using the net asset value (NAV) per share (or its equivalent) as a practical expedient. The amendments in this update remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the NAV per share practical expedient. In addition, the amendment removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share as a practical expedient. We adopted the standard on its required effective date of January 1, 2016 on a retrospective basis. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Future Application of Accounting Standards Revenue Recognition In May 2014, the FASB issued an accounting standard that supersedes most existing revenue recognition guidance. The standard excludes from its scope the accounting for insurance contracts, leases, financial instruments, and 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 do not expect the adoption of the standard to 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. Leases In February 2016, the FASB issued an accounting standard that will require lessees with lease terms of more than 12 months to recognize a right of use asset and a corresponding lease liability on their balance sheets. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating leases or finance leases. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted using a modified retrospective approach. We are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Derivative Contract Novations In March 2016, the FASB issued an accounting standard that clarifies that a change in the counterparty (novation) to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. We do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued an accounting standard that clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. The standard requires an evaluation of embedded call (put) options solely on a four-step decision sequence that requires an entity to consider whether (1) the amount paid upon settlement is adjusted based on changes in an index, (2) the amount paid upon settlement is indexed to an underlying other than interest rates or credit risk, (3) the debt involves a substantial premium or discount and (4) the put or call option is contingently exercisable. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. We 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 Transition to the Equity Method of Accounting In March 2016, the FASB issued an accounting standard that eliminates the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods during which the investment had been held. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. We do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued a standard that simplifies several aspects of the accounting for share-based compensation, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification on the statement of cash flows. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. We do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Calculation of Credit Losses In June 2016, the FASB issued an accounting standard that will change how entities account for credit losses for most financial assets. The standard will replace the existing incurred loss impairment model with a new “current expected credit loss model” and will apply to financial assets subject to credit losses, those measured at amortized cost and certain off-balance sheet credit exposures. The impairment for available-for-sale debt securities will be measured in a similar manner, except that losses will be recognized as allowances rather than reductions in the amortized cost of the securities. The standard will also require additional information to be disclosed in the footnotes. The standard is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted for annual and interim periods after December 15, 2018. We are assessing the impact of the standard on our consolidated financial condition, results of operations or cash flows.

SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2016

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 (loss).

The following tables present our operations by reportable segment:

	2016				2015
				Pre-Tax				Pre-Tax
Three Months Ended June 30,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues	Income (Loss)
Commercial Insurance
Property Casualty	$	5,540	$	791	$	6,233	$	1,192
Mortgage Guaranty		275		187		261		157
Institutional Markets		695		110		1,172		151
Total Commercial Insurance		6,510		1,088		7,666		1,500
Consumer Insurance
Retirement		2,209		741		2,465		804
Life		1,690		184		1,632		149
Personal Insurance		2,915		179		2,869		70
Total Consumer Insurance		6,814		1,104		6,966		1,023
Corporate and Other^*		450		(544)		1,119		372
AIG consolidation and elimination		(205)		(28)		(116)		(27)
Total AIG consolidated operating revenues and pre-tax operating income		13,569		1,620		15,635		2,868
Reconciling items from Total revenues and Pre-tax operating income
(loss) to revenues and pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed
living benefits		120		120		(87)		(87)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(64)		-		(28)
Other income - net		-		5		-		-
Loss on extinguishment of debt		-		(7)		-		(342)
Net realized capital gains		1,042		1,042		126		126
Income (loss) from divested businesses		-		225		(33)		(34)
Non-operating litigation reserves and settlements		7		7		76		49
Reserve development related to non-operating run-off insurance business		-		-		-		-
Restructuring and other costs		-		(90)		-		-
Other		(14)		-		(18)		-
Revenues and pre-tax income	$	14,724	$	2,858	$	15,699	$	2,552

	2016				2015
				Pre-Tax				Pre-Tax
Six Months Ended June 30,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues	Income (Loss)
Commercial Insurance
Property Casualty	$	10,818	$	1,511	$	12,189	$	2,362
Mortgage Guaranty		536		350		525		302
Institutional Markets		1,314		116		1,796		298
Total Commercial Insurance		12,668		1,977		14,510		2,962
Consumer Insurance
Retirement		4,323		1,202		4,853		1,604
Life		3,287		289		3,245		320
Personal Insurance		5,736		401		5,731		44
Total Consumer Insurance		13,346		1,892		13,829		1,968
Corporate and Other^*		656		(1,277)		2,161		534
AIG consolidation and elimination		(364)		(18)		(275)		(69)
Total AIG consolidated operating revenues and pre-tax operating income		26,306		2,574		30,225		5,395
Reconciling items from Total revenues and Pre-tax operating income
(loss) to revenues and pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed
living benefits		253		253		(43)		(43)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(24)		-		(82)
Other income - net		-		12		-		-
Loss on extinguishment of debt		-		(90)		-		(410)
Net realized capital gains (losses)		(64)		(64)		1,467		1,467
Income (loss) from divested businesses		-		223		(48)		(55)
Non-operating litigation reserves and settlements		41		38		91		56
Reserve development related to non-operating run-off insurance business		-		-		-		-
Restructuring and other costs		-		(278)		-		-
Other		(33)		-		(18)		-
Revenues and pre-tax income	$	26,503	$	2,644	$	31,674	$	6,328

* Corporate and Other includes income from assets held by AIG Parent and other corporate subsidiaries.

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Topic 280
-SubTopic 10
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-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
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-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2016

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

4. FAIR VALUE MEASUREMENTS

Fair Value Measurements on a Recurring Basis

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

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

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

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

June 30, 2016							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^(b)	Collateral			Total
Assets:
Bonds available for sale:
U.S. government and government sponsored entities	$	19	$	2,248	$	-	$	-	$	-	$	2,267
Obligations of states, municipalities and political subdivisions		-		26,464		2,313		-		-		28,777
Non-U.S. governments		654		19,410		28		-		-		20,092
Corporate debt		-		141,325		836		-		-		142,161
RMBS		-		20,665		16,779		-		-		37,444
CMBS		-		12,679		2,295		-		-		14,974
CDO/ABS		-		9,299		7,075		-		-		16,374
Total bonds available for sale		673		232,090		29,326		-		-		262,089
Other bond securities:
U.S. government and government sponsored entities		136		3,459		-		-		-		3,595
Obligations of states, municipalities and political subdivisions		-		-		-		-		-		-
Non-U.S. governments		-		55		-		-		-		55
Corporate debt		-		1,949		18		-		-		1,967
RMBS		-		439		1,486		-		-		1,925
CMBS		-		498		168		-		-		666
CDO/ABS		-		815		6,312		-		-		7,127
Total other bond securities		136		7,215		7,984		-		-		15,335
Equity securities available for sale:
Common stock		1,117		-		-		-		-		1,117
Preferred stock		23		-		-		-		-		23
Mutual funds		501		1		-		-		-		502
Total equity securities available for sale		1,641		1		-		-		-		1,642
Other equity securities		647		-		14		-		-		661
Mortgage and other loans receivable		-		-		11		-		-		11
Other invested assets^(a)		-		2		241		-		-		243

Derivative assets:
Interest rate contracts		-		5,014		15		-		-		5,029
Foreign exchange contracts		-		1,495		1		-		-		1,496
Equity contracts		104		123		52		-		-		279
Credit contracts		-		-		3		-		-		3
Other contracts		-		-		23		-		-		23
Counterparty netting and cash collateral		-		-		-		(2,192)		(3,233)		(5,425)
Total derivative assets		104		6,632		94		(2,192)		(3,233)		1,405
Short-term investments		2,453		1,496		-		-		-		3,949
Separate account assets		74,755		5,817		-		-		-		80,572
Total	$	80,409	$	253,253	$	37,670	$	(2,192)	$	(3,233)	$	365,907
Liabilities:
Policyholder contract deposits	$	-	$	26	$	3,990	$	-	$	-	$	4,016
Other policyholder funds		5		-		-		-		-		5
Derivative liabilities:
Interest rate contracts		-		2,965		61		-		-		3,026
Foreign exchange contracts		-		1,441		10		-		-		1,451
Equity contracts		-		5		-		-		-		5
Credit contracts		-		-		376		-		-		376
Other contracts		-		-		125		-		-		125
Counterparty netting and cash collateral		-		-		-		(2,192)		(738)		(2,930)
Total derivative liabilities		-		4,411		572		(2,192)		(738)		2,053
Long-term debt		-		3,680		67		-		-		3,747
Other liabilities		114		127		-		-		-		241
Total	$	119	$	8,244	$	4,629	$	(2,192)	$	(738)	$	10,062

December 31, 2015							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^(b)	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^(a)		2		1		332		-		-		335
Derivative assets:
Interest rate contracts		-		3,150		12		-		-		3,162
Foreign exchange contracts		-		766		-		-		-		766
Equity contracts		91		32		54		-		-		177
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	$	237,684	$	38,110	$	(1,268)	$	(1,554)	$	352,683
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
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

(a) Excludes investments that are measured at fair value using the NAV per share (or its equivalent), which totaled $7.0 billion and $8.6 billion as of June 30, 2016 and December 31, 2015, respectively.

(b) 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 three- and six-month periods ended June 30, 2016, we transferred $229 million and $312 million, respectively, of securities issued by Non-U.S. government entities from Level 1 to Level 2, as they are no longer considered actively traded. For similar reasons, during the three- and six-month periods ended June 30, 2016 we transferred $16 million of securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2. We had no material transfers from Level 2 to Level 1 during the three- and six-month periods ended June 30, 2016.

During the three- and six-month periods ended June 30, 2015, we transferred $190 million and $262 million, respectively, of securities issued by Non-U.S. government entities from Level 1 to Level 2, as they are no longer considered actively traded. For similar reasons, during the three- and six-month periods ended June 30, 2015, we transferred $65 million and $180 million, respectively, of securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2. We had no material transfers from Level 2 to Level 1 during the three- and six-month periods ended June 30, 2015.

Changes in Level 3 Recurring Fair Value Measurements

The following tables present changes during the three- and six-month periods ended June 30, 2016 and 2015 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realized and unrealized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at June 30, 2016 and 2015:

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Three Months Ended June 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,196	$	2	$	136	$	(21)	$	-	$	-	$	2,313	$	-
Non-U.S. governments		30		-		-		2		-		(4)		28		-
Corporate debt		1,024		2		7		(65)		193		(325)		836		-
RMBS		16,162		234		61		61		261		-		16,779		-
CMBS		2,368		16		10		(87)		-		(12)		2,295		-
CDO/ABS		6,592		8		93		382		-		-		7,075		-
Total bonds available for sale		28,372		262		307		272		454		(341)		29,326		-
Other bond securities:
Corporate debt		18		1		-		(1)		-		-		18		1
RMBS		1,513		14		-		(41)		-		-		1,486		(19)
CMBS		170		-		-		(2)		-		-		168		9
CDO/ABS		6,576		109		-		(308)		-		(65)		6,312		(60)
Total other bond securities		8,277		124		-		(352)		-		(65)		7,984		(69)
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-
Other equity securities		15		(1)		-		-		-		-		14		-
Mortgage and other loans receivable		11		-		-		-		-		-		11		-
Other invested assets		263		(12)		6		(16)		-		-		241		-
Total	$	36,938	$	373	$	313	$	(96)	$	454	$	(406)	$	37,576	$	(69)

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		(Gains) Losses		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,251	$	598	$	-	$	141	$	-	$	-	$	3,990	$	16
Derivative liabilities, net:
Interest rate contracts		48		3		-		(5)		-		-		46		-
Foreign exchange contracts		9		1		-		(1)		-		-		9		(1)
Equity contracts		(51)		(4)		-		3		-		-		(52)		3
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		490		(28)		-		(89)		-		-		373		18
Other contracts		121		(24)		-		5		-		-		102		23
Total derivative liabilities, net^(a)		617		(52)		-		(87)		-		-		478		43
Long-term debt^(b)		184		(2)		-		(2)		-		(113)		67		-
Total	$	4,052	$	544	$	-	$	52	$	-	$	(113)	$	4,535	$	59
				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period^(a)		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Six Months Ended June 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,124	$	2	$	194	$	(7)	$	-	$	-	$	2,313	$	-
Non-U.S. governments		32		-		(2)		2		-		(4)		28		-
Corporate debt		1,370		3		(17)		(36)		314		(798)		836		-
RMBS		16,537		479		(359)		(172)		294		-		16,779		-
CMBS		2,585		58		(78)		(168)		-		(102)		2,295		-
CDO/ABS		6,169		20		43		820		23		-		7,075		-
Total bonds available for sale		28,817		562		(219)		439		631		(904)		29,326		-
Other bond securities:
Corporate debt		17		2		-		(1)		-		-		18		3
RMBS		1,581		(23)		-		(54)		-		(18)		1,486		(61)
CMBS		193		(2)		-		(23)		-		-		168		7
CDO/ABS		7,055		(24)		-		(719)		65		(65)		6,312		(364)
Total other bond securities		8,846		(47)		-		(797)		65		(83)		7,984		(415)
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-
Other equity securities		14		-		-		-		-		-		14		1
Mortgage and other loans receivable		11		-		-		-		-		-		11		-
Other invested assets		332		(1)		1		(37)		-		(54)		241		-
Total	$	38,020	$	514	$	(218)	$	(395)	$	696	$	(1,041)	$	37,576	$	(414)

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		(Gains) Losses		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period^(a)		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	2,289	$	1,443	$	-	$	258	$	-	$	-	$	3,990	$	37
Derivative liabilities, net:
Interest rate contracts		50		7		-		(11)		-		-		46		(5)
Foreign exchange contracts		7		2		-		-		-		-		9		(1)
Equity contracts		(54)		-		-		2		-		-		(52)		-
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		505		(34)		-		(98)		-		-		373		28
Other contracts		48		30		-		24		-		-		102		(31)
Total derivative liabilities, net^(a)		556		5		-		(83)		-		-		478		(9)
Long-term debt^(b)		183		-		-		(3)		-		(113)		67		3
Total	$	3,028	$	1,448	$	-	$	172	$	-	$	(113)	$	4,535	$	31

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Three Months Ended June 30, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,256	$	-	$	(124)	$	93	$	-	$	(45)	$	2,180	$	-
Non-U.S. governments		34		-		(1)		-		-		-		33		-
Corporate debt		1,827		14		(50)		(85)		412		-		2,118		-
RMBS		17,345		281		(99)		(430)		-		-		17,097		-
CMBS		2,694		22		(40)		17		-		(16)		2,677		-
CDO/ABS		6,453		97		(196)		(283)		-		-		6,071		-
Total bonds available for sale		30,609		414		(510)		(688)		412		(61)		30,176		-
Other bond securities:
Corporate debt		16		-		-		-		-		-		16		-
RMBS		1,288		45		-		16		15		(27)		1,337		31
CMBS		269		8		-		(54)		-		-		223		1
CDO/ABS		7,850		265		-		(688)		-		(1)		7,426		93
Total other bond securities		9,423		318		-		(726)		15		(28)		9,002		125
Equity securities available for sale:
Common stock		1		2		-		(3)		-		-		-		-
Total equity securities available for sale		1		2		-		(3)		-		-		-		-
Other equity securities		22		-		-		-		-		-		22		-
Mortgage and other loans receivable		6		-		-		-		-		-		6		-
Other invested assets		422		62		4		(51)		-		-		437		-
Total	$	40,483	$	796	$	(506)	$	(1,468)	$	427	$	(89)	$	39,643	$	125

				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
		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	1,835	$	(736)	$	-	$	133	$	-	$	-	$	1,232	$	110
Derivative liabilities, net:
Interest rate contracts		69		(4)		-		(3)		-		-		62		3
Foreign exchange contracts		8		(2)		-		1		-		-		7		1
Equity contracts		(66)		2		-		1		-		-		(63)		(3)
Credit contracts		791		(13)		-		(227)		-		-		551		22
Other contracts		59		(59)		2		14		-		-		16		33
Total derivatives liabilities, net^(a)		861		(76)		2		(214)		-		-		573		56
Long-term debt^(b)		186		13		-		(6)		-		-		193		(6)
Total	$	2,882	$	(799)	$	2	$	(87)	$	-	$	-	$	1,998	$	160

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Six Months Ended June 30, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions^(c)	$	2,159	$	1	$	(79)	$	158	$	-	$	(59)	$	2,180	$	-
Non-U.S. governments		30		-		(1)		4		-		-		33		-
Corporate debt		1,883		14		(33)		(146)		456		(56)		2,118		-
RMBS		16,805		539		(171)		(76)		-		-		17,097		-
CMBS		2,696		46		(30)		47		-		(82)		2,677		-
CDO/ABS		6,110		130		(167)		119		-		(121)		6,071		-
Total bonds available for sale		29,683		730		(481)		106		456		(318)		30,176		-
Other bond securities:
Corporate debt		-		-		-		-		16		-		16		(1)
RMBS		1,105		26		-		220		44		(58)		1,337		1
CMBS		369		8		-		(154)		-		-		223		8
CDO/ABS		7,449		397		-		(926)		581		(75)		7,426		51
Total other bond securities		8,923		431		-		(860)		641		(133)		9,002		59
Equity securities available for sale:
Common stock		1		2		-		(3)		-		-		-		-
Total equity securities available for sale		1		2		-		(3)		-		-		-		-
Other equity securities		-		-		-		-		22		-		22		-
Mortgage and other loans receivable		6		-		-		-		-		-		6		-
Other invested assets		1,042		472		(488)		(589)		-		-		437		-
Total	$	39,655	$	1,635	$	(969)	$	(1,346)	$	1,119	$	(451)	$	39,643	$	59

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair value		(Gains) Losses		Other		Sales,		Gross		Gross		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	1,509	$	(461)	$	-	$	184	$	-	$	-	$	1,232	$	40
Derivative liabilities, net:
Interest rate contracts		74		-		-		(12)		-		-		62		(1)
Foreign exchange contracts		8		(3)		-		2		-		-		7		3
Equity contracts		(47)		(6)		-		(10)		-		-		(63)		2
Credit contracts		978		(160)		-		(267)		-		-		551		50
Other contracts		59		(73)		-		30		-		-		16		48
Total derivatives liabilities, net^(a)		1,072		(242)		-		(257)		-		-		573		102
Long-term debt^(b)		213		(2)		-		(18)		-		-		193		13
Total	$	2,794	$	(705)	$	-	$	(91)	$	-	$	-	$	1,998	$	155

(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.

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

		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	Gains (Losses)			Income		Total
Three Months Ended June 30, 2016
Bonds available for sale	$	291	$	(30)	$	1	$	262
Other bond securities		26		32		66		124
Other equity securities		(1)		-		-		(1)
Other invested assets		(1)		(19)		8		(12)
Six Months Ended June 30, 2016
Bonds available for sale	$	589	$	(29)	$	2	$	562
Other bond securities		(8)		32		(71)		(47)
Other equity securities		-		-		-		-
Other invested assets		(3)		32		(30)		(1)
Three Months Ended June 30, 2015
Bonds available for sale	$	311	$	10	$	93	$	414
Other bond securities		23		(3)		298		318
Equity securities available for sale		-		2		-		2
Other invested assets		5		2		55		62
Six Months Ended June 30, 2015
Bonds available for sale	$	622	$	1	$	107	$	730
Other bond securities		41		3		387		431
Equity securities available for sale		-		2		-		2
Other invested assets		(2)		419		55		472

		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	Gains (Losses)			Income		Total
Three Months Ended June 30, 2016
Policyholder contract deposits	$	-	$	598	$	-	$	598
Derivative liabilities, net		-		-		(52)		(52)
Long-term debt		-		-		(2)		(2)
Six Months Ended June 30, 2016
Policyholder contract deposits	$	-	$	1,443	$	-	$	1,443
Derivative liabilities, net		-		4		1		5
Long-term debt		-		-		-		-
Three Months Ended June 30, 2015
Policyholder contract deposits	$	-	$	(736)	$	-	$	(736)
Derivative liabilities, net		19		1		(96)		(76)
Long-term debt		-		-		13		13
Six Months Ended June 30, 2015
Policyholder contract deposits	$	-	$	(461)	$	-	$	(461)
Derivative liabilities, net		-		(5)		(237)		(242)
Long-term debt		-		-		(2)		(2)

The following table presents the gross components of purchases, sales, issues and settlements, net, shown above, for the three- and six-month periods ended June 30, 2016 and 2015 related to Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets:

								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Three Months Ended June 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	17	$	(7)	$	(31)	$	(21)
Non-U.S. governments		2		-		-		2
Corporate debt		-		(25)		(40)		(65)
RMBS		1,040		-		(979)		61
CMBS		4		(27)		(64)		(87)
CDO/ABS		612		(11)		(219)		382
Total bonds available for sale		1,675		(70)		(1,333)		272
Other bond securities:
Corporate debt		-		-		(1)		(1)
RMBS		26		-		(67)		(41)
CMBS		-		-		(2)		(2)
CDO/ABS		61		(19)		(350)		(308)
Total other bond securities		87		(19)		(420)		(352)

Equity securities available for sale		-		-		-		-
Other equity securities		-		-		-		-
Other invested assets		9		(2)		(23)		(16)
Total assets	$	1,771	$	(91)	$	(1,776)	$	(96)
Liabilities:
Policyholder contract deposits	$	-	$	140	$	1	$	141
Derivative liabilities, net		(1)		-		(86)		(87)
Long-term debt^(b)		-		-		(2)		(2)
Total liabilities	$	(1)	$	140	$	(87)	$	52
Three Months Ended June 30, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	116	$	-	$	(23)	$	93
Non-U.S. governments		2		-		(2)		-
Corporate debt		182		(10)		(257)		(85)
RMBS		446		(143)		(733)		(430)
CMBS		70		-		(53)		17
CDO/ABS		282		(178)		(387)		(283)
Total bonds available for sale		1,098		(331)		(1,455)		(688)
Other bond securities:
RMBS		64		(4)		(44)		16
CMBS		-		(43)		(11)		(54)
CDO/ABS		12		(331)		(369)		(688)
Total other bond securities		76		(378)		(424)		(726)
Equity securities available for sale		-		(2)		(1)		(3)
Other invested assets		(42)		(2)		(7)		(51)
Total assets	$	1,132	$	(713)	$	(1,887)	$	(1,468)
Liabilities:
Policyholder contract deposits	$	-	$	112	$	21	$	133
Derivative liabilities, net		(2)		-		(212)		(214)
Long-term debt^(b)		-		-		(6)		(6)
Total liabilities	$	(2)	$	112	$	(197)	$	(87)
								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Six Months Ended June 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	46	$	(7)	$	(46)	$	(7)
Non-U.S. governments		3		-		(1)		2
Corporate debt		29		(25)		(40)		(36)
RMBS		1,543		(58)		(1,657)		(172)
CMBS		106		(58)		(216)		(168)
CDO/ABS		1,151		(11)		(320)		820
Total bonds available for sale		2,878		(159)		(2,280)		439

Other bond securities:
Corporate debt		-		-		(1)		(1)
RMBS		89		(26)		(117)		(54)
CMBS		53		(71)		(5)		(23)
CDO/ABS		69		(36)		(752)		(719)
Total other bond securities		211		(133)		(875)		(797)
Equity securities available for sale		-		-		-		-
Other equity securities		14		-		(14)		-
Other invested assets		18		(2)		(53)		(37)
Total assets	$	3,121	$	(294)	$	(3,222)	$	(395)
Liabilities:
Policyholder contract deposits	$	-	$	270	$	(12)	$	258
Derivative liabilities, net		(3)		-		(80)		(83)
Long-term debt^(b)		-		-		(3)		(3)
Total liabilities	$	(3)	$	270	$	(95)	$	172
Six Months Ended June 30, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions^(c)	$	223	$	(22)	$	(43)	$	158
Non-U.S. governments		8		-		(4)		4
Corporate debt		188		(60)		(274)		(146)
RMBS		1,407		(165)		(1,318)		(76)
CMBS		142		(27)		(68)		47
CDO/ABS		861		(201)		(541)		119
Total bonds available for sale		2,829		(475)		(2,248)		106
Other bond securities:
RMBS		309		(10)		(79)		220
CMBS		-		(79)		(75)		(154)
CDO/ABS		226		(371)		(781)		(926)
Total other bond securities		535		(460)		(935)		(860)
Equity securities available for sale		-		(2)		(1)		(3)
Other invested assets		27		(587)		(29)		(589)
Total assets	$	3,391	$	(1,524)	$	(3,213)	$	(1,346)
Liabilities:
Policyholder contract deposits	$	-	$	185	$	(1)	$	184
Derivative liabilities, net		(17)		-		(240)		(257)
Long-term debt^(b)		-		-		(18)		(18)
Total liabilities	$	(17)	$	185	$	(259)	$	(91)

(a) There were no issuances during the three- and six-month periods ended June 30, 2016 and 2015, respectively.

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

Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3 in the tables above. As a result, the unrealized gains (losses) on instruments held at June 30, 2016 and 2015 may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable inputs (e.g., changes in unobservable long-dated volatilities).

Transfers of Level 3 Assets and Liabilities

We record transfers of assets and liabilities into or out of Level 3 classification at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. The Net realized and unrealized gains (losses) included in income (loss) or Other comprehensive income (loss) as shown in the table above excluded $3 million of net gains and $10 million of net losses, related to assets and liabilities transferred into Level 3 during the three- and six-month periods ended June 30, 2016, respectively, and included $8 million and $53 million, of net losses related to assets and liabilities transferred out of Level 3 during the three- and six-month periods ended June 30, 2016, respectively.

The Net realized and unrealized gains (losses) included in income or Other comprehensive income (loss) as shown in the table above contained no material net gains (losses) related to assets and liabilities transferred into or out of Level 3 during the three-month period ended June 30, 2015. The Net realized and unrealized gains (losses) included in income or Other comprehensive income (loss) as shown in the table above excluded $18 million of net gains related to assets and liabilities transferred into Level 3, and included $3 million of net gains related to assets and liabilities transferred out of Level 3 during the six-month period ended June 30, 2015.

Transfers of Level 3 Assets

During the three- and six-month periods ended June 30, 2016 and 2015, transfers into Level 3 assets primarily included certain investments in private placement corporate debt, RMBS and CDO/ABS. Transfers of private placement corporate debt and certain ABS into Level 3 assets were primarily the result of limited market pricing information that required us to determine fair value for these securities based on inputs that are adjusted to better reflect our own assumptions regarding the characteristics of a specific security or associated market liquidity. The transfers of investments in RMBS and CDO and certain ABS into Level 3 assets were due to decreases in market transparency and liquidity for individual security types.

During the three- and six-month periods ended June 30, 2016 and 2015, transfers out of Level 3 assets primarily included private placement and other corporate debt, CMBS, CDO/ABS, RMBS and certain investments in municipal securities. Transfers of certain investments municipal securities, corporate debt, RMBS, CMBS and CDO/ABS out of Level 3 assets were based on consideration of market liquidity as well as related transparency of pricing and associated observable inputs for these investments. Transfers of certain investments in private placement corporate debt and certain ABS out of Level 3 assets were primarily the result of using observable pricing information that reflects the fair value of those securities without the need for adjustment based on our own assumptions regarding the characteristics of a specific security or the current liquidity in the market.

Transfers of Level 3 Liabilities

There were no significant transfers of derivative or other liabilities into or out of Level 3 for the three- and six-month periods ended June 30, 2016 and 2015.

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
	June 30,		Valuation		Range
(in millions)	2016		Technique	Unobservable Input^(b)	(Weighted Average)
Assets:

Obligations of states,
municipalities and
political subdivisions	$	1,448	Discounted cash flow	Yield	3.44% - 4.29% (3.86%)

Corporate debt		386	Discounted cash flow	Yield	3.80% - 4.77% (4.29%)


RMBS^(a)		17,238	Discounted cash flow	Constant prepayment rate	1.26% - 8.84% (5.05%)
				Loss severity	46.90% - 80.26% (63.58%)
				Constant default rate	3.41% - 9.02% (6.22%)
				Yield	2.78% - 6.07% (4.43%)

CDO/ABS^(a)		3,017	Discounted cash flow	Yield	3.54% - 5.55% (4.54%)

CMBS		73	Discounted cash flow	Yield	1.32% - 2.73% (2.03%)

Liabilities:

Embedded derivatives
within Policyholder
contract deposits:

GMWB and GMAB		2,710	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	20.00% - 40.00%

Index Annuities		963	Discounted cash flow	Lapse rate	0.75% - 66.00%
				Mortality multiplier^(c)	50.00% - 75.00%

Indexed Life		345	Discounted cash flow	Equity volatility	12.62% to 21.70%
				Base lapse rate	2.00% to 19.00%
				Mortality rate	0.00% to 40.00%


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

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

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	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%

(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.

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 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 be either a decrease or an increase, depending on the relative changes in projected rider fees and projected benefit payments.
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.
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, as estimated by the company, 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.

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 NAV per share (or its equivalent). For these investments, which are measured at fair value on a recurring basis, we use the NAV per share to measure fair value.

		June 30, 2016				December 31, 2015
			Fair Value			Fair Value
			Using NAV			Using NAV
			Per Share (or		Unfunded	Per Share (or			Unfunded
(in millions)	Investment Category Includes		its equivalent)		Commitments	its equivalent)			Commitments
Investment Category
Private equity funds:
Leveraged buyout	Debt and/or equity investments made as part of a transaction in which assets of mature companies are acquired from the current shareholders, typically with the use of financial leverage	$	1,560	$	547	$	1,774	$	436

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		266		227		306		213

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		99		34		107		41

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		134		42		146		41

Other	Includes multi-strategy, mezzanine and other strategies		282		248		298		239
Total private equity funds			2,341		1,098		2,631		970
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		700		-		1,194		-

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		2,240		28		2,978		25

Macro	Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions		573		-		555		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		640		7		699		8

Emerging markets	Investments in the financial markets of developing countries		300		-		353		-

Other	Includes multi-strategy, relative value and other strategies		140		-		167		-
Total hedge funds			4,593		35		5,946		33
Total		$	6,934	$	1,133	$	8,577	$	1,003

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 June 30, 2016, assuming average original expected lives of 10 years for the funds, 78 percent of the total fair value using NAV per share (or its equivalent) presented above would have expected remaining lives of three years or less, 10 percent between four and six years and 12 percent between seven and 10 years.

The hedge fund investments included above, which are carried at fair value, are generally redeemable monthly (14 percent), quarterly (41 percent), semi-annually (12 percent) and annually (33 percent), with redemption notices ranging from one day to 180 days. At June 30, 2016, investments representing approximately 81 percent of the total fair value of these hedge fund investments had partial contractual redemption restrictions. These partial redemption restrictions are generally related to one or more investments held in the hedge funds that the fund manager deemed to be illiquid. 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. The majority of these restrictions are generally expected to be lifted by the end of 2017.

Fair Value Option

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

	Gain (Loss) Three Months Ended June 30,				Gain (Loss) Six Months Ended June 30,
	Gain (Loss) Three Months Ended June 30,				Gain (Loss) Six Months Ended June 30,
(in millions)		2016		2015		2016		2015
Assets:
Bond and equity securities	$	248	$	460	$	298	$	601
Alternative Investments^(a)		33		118		(214)		263
Other, including Short-term investments		-		-		-		2
Liabilities:
Long-term debt^(b)		(71)		131		(247)		55
Other liabilities		-		-		-		(3)
Total gain (loss)	$	210	$	709	$	(163)	$	918

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

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

We recognized gains of $3 million and $8 million during the three- and six-month periods ended June 30, 2016, respectively, and gains of $5 million and $11 million during the three- and six-month periods ended June 30, 2015, respectively, attributable to the observable effect of changes in credit spreads on our own liabilities for which the fair value option was elected. We calculate the effect of these credit spread changes using discounted cash flow techniques that incorporate current market interest rates, our observable credit spreads on these liabilities and other factors that mitigate the risk of nonperformance such as cash collateral posted.

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

	June 30, 2016						December 31, 2015
			Outstanding						Outstanding
(in millions)	Fair Value		Principal Amount		Difference		Fair Value		Principal Amount		Difference
Assets:
Mortgage and other loans receivable	$	11	$	8	$	3	$	11	$	9	$	2
Liabilities:
Long-term debt^*	$	3,747	$	2,594	$	1,153	$	3,670	$	2,675	$	995

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

Fair Value Measurements on a Non-Recurring Basis

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

	Assets at Fair Value								Impairment Charges
	Non-Recurring Basis								Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	Level 1		Level 2		Level 3			Total		2016		2015		2016		2015
June 30, 2016
Other investments	$	-	$	-	$	176	$	176	$	29	$	27	$	31	$	52
Investments in life settlements		-		-		534		534		92		72		249		142
Other assets		-		-		1		1		9		4		9		8
Total	$	-	$	-	$	711	$	711	$	130	$	103	$	289	$	202
December 31, 2015
Other investments	$	-	$	-	$	1,117	$	1,117
Investments in life settlements		-		-		828		828
Other assets		-		-		129		129
Total	$	-	$	-	$	2,074	$	2,074

Fair Value Information About Financial Instruments Not Measured at Fair Value

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

	Estimated Fair Value									Carrying
(in millions)		Level 1		Level 2		Level 3		Total		Value
June 30, 2016
Assets:
Mortgage and other loans receivable	$	-	$	174	$	32,795	$	32,969	$	31,250
Other invested assets		-		620		2,897		3,517		4,191
Short-term investments		-		8,385		-		8,385		8,385
Cash		1,784		-		-		1,784		1,784
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		366		126,279		126,645		111,459
Other liabilities		-		3,697		-		3,697		3,697
Long-term debt		-		25,918		4,693		30,611		29,582
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		25,579

- 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

6 Months Ended

Jun. 30, 2016

INVESTMENTS

INVESTMENTS

5. INVESTMENTS

Securities Available for Sale

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

										Other-Than-
		Amortized		Gross		Gross				Temporary
		Cost or		Unrealized		Unrealized		Fair		Impairments
(in millions)		Cost		Gains		Losses		Value		in AOCI^(a)
June 30, 2016
Bonds available for sale:
U.S. government and government sponsored entities	$	2,024	$	245	$	(2)	$	2,267	$	-
Obligations of states, municipalities and political subdivisions		26,244		2,560		(27)		28,777		-
Non-U.S. governments		18,559		1,643		(110)		20,092		-
Corporate debt		132,265		11,026		(1,130)		142,161		(37)
Mortgage-backed, asset-backed and collateralized:
RMBS		35,072		2,824		(452)		37,444		1,020
CMBS		14,103		928		(57)		14,974		78
CDO/ABS		16,183		398		(207)		16,374		37
Total mortgage-backed, asset-backed and collateralized		65,358		4,150		(716)		68,792		1,135
Total bonds available for sale^(b)		244,450		19,624		(1,985)		262,089		1,098
Equity securities available for sale:
Common stock		796		332		(11)		1,117		-
Preferred stock		19		4		-		23		-
Mutual funds		431		71		-		502		-
Total equity securities available for sale		1,246		407		(11)		1,642		-
Total	$	245,696	$	20,031	$	(1,996)	$	263,731	$	1,098
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

(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 June 30, 2016 and December 31, 2015, bonds available for sale held by us that were below investment grade or not rated totaled $35.8 billion and $34.9 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
June 30, 2016
Bonds available for sale:
U.S. government and government sponsored entities	$	51	$	2	$	12	$	-	$	63	$	2
Obligations of states, municipalities and political
subdivisions		163		1		257		26		420		27
Non-U.S. governments		1,236		25		1,005		85		2,241		110
Corporate debt		8,058		302		9,098		828		17,156		1,130
RMBS		4,263		125		4,731		327		8,994		452
CMBS		620		29		639		28		1,259		57
CDO/ABS		4,936		104		2,888		103		7,824		207
Total bonds available for sale		19,327		588		18,630		1,397		37,957		1,985
Equity securities available for sale:
Common stock		142		10		2		1		144		11
Mutual funds		13		-		-		-		13		-
Total equity securities available for sale		155		10		2		1		157		11
Total	$	19,482	$	598	$	18,632	$	1,398	$	38,114	$	1,996
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

At June 30, 2016, we held 7,153 and 140 individual fixed maturity and equity securities, respectively, that were in an unrealized loss position, of which 3,129 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 June 30, 2016 because we neither intend to sell the securities nor do we believe that it is more likely than not that we will be required to sell these securities before recovery of their amortized cost basis. For fixed maturity securities with significant declines, we performed fundamental credit analyses on a security-by-security basis, which included consideration of credit enhancements, expected defaults on underlying collateral, review of relevant industry analyst reports and forecasts and other available market data.

Contractual Maturities of Fixed Maturity Securities Available for Sale

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

	Total Fixed Maturity Securities				Fixed Maturity Securities in a Loss
June 30, 2016	Available for Sale				Position Available for Sale
(in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	8,363	$	8,501	$	745	$	734
Due after one year through five years		51,468		54,680		4,813		4,616
Due after five years through ten years		50,399		53,104		7,253		6,779
Due after ten years		68,862		77,012		8,338		7,751
Mortgage-backed, asset-backed and collateralized		65,358		68,792		18,793		18,077
Total	$	244,450	$	262,089	$	39,942	$	37,957
December 31, 2015
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

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

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

	Three Months Ended June 30,								Six Months Ended June 30,
		2016				2015			2016					2015
		Gross		Gross		Gross		Gross		Gross		Gross		Gross		Gross
	Realized		Realized		Realized		Realized		Realized		Realized		Realized			Realized
(in millions)		Gains		Losses		Gains		Losses		Gains		Losses		Gains		Losses
Fixed maturity securities	$	217	$	93	$	194	$	59	$	404	$	642		$	343	$	177
Equity securities		980		6		24		3		1,012		14			520		8
Total	$	1,197	$	99	$	218	$	62	$	1,416	$	656		$	863	$	185

For the three and six-month periods ended June 30, 2016, the aggregate fair value of available for sale securities sold was $8.3 billion and $14.4 billion, respectively, which resulted in net realized capital gains of $1.1 billion and net realized capital gains of $760 million, respectively.

For the three and six-month periods ended June 30, 2015, the aggregate fair value of available for sale securities sold was $7.1 billion and $14.0 billion, respectively, which resulted in net realized capital gains of $156 million and $678 million, respectively.

Other Securities Measured at Fair Value

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

		June 30, 2016				December 31, 2015
		Fair	Percent			Fair	Percent
(in millions)		Value	of Total			Value	of Total
Fixed maturity securities:
U.S. government and government sponsored entities	$	3,595	23	%	$	3,369	19	%
Obligations of states, municipalities and political subdivisions		-	-			75	-
Non-U.S. governments		55	-			50	-
Corporate debt		1,967	12			2,035	12
Mortgage-backed, asset-backed and collateralized:
RMBS		1,925	12			2,230	13
CMBS		666	4			750	4
CDO/ABS and other collateralized^*		7,127	45			8,273	47
Total mortgage-backed, asset-backed and collateralized		9,718	61			11,253	64
Total fixed maturity securities		15,335	96			16,782	95
Equity securities		661	4			921	5
Total	$	15,996	100	%	$	17,703	100	%

* Includes $557 million and $712 million of U.S. Government agency-backed ABS at June 30, 2016 and December 31, 2015, respectively.

Other Invested Assets

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

		June 30,		December 31,
(in millions)		2016		2015
Alternative investments^{(a) (b)}	$	14,972	$	18,150
Investment real estate^(c)		7,340		6,579
Aircraft asset investments^(d)		427		477
Investments in life settlements		3,565		3,606
All other investments		1,041		982
Total	$	27,345	$	29,794

(a) At June 30, 2016, includes hedge funds of $8.3 billion, private equity funds of $6.0 billion, and affordable housing partnerships of $633 million. At December 31, 2015, includes hedge funds of $10.9 billion, private equity funds of $6.5 billion, and affordable housing partnerships of $701 million.

(b) Approximately 59 percent of our hedge fund portfolio is available for redemption in 2016, an additional 24 percent and 10 percent will be available in 2017 and 2018, respectively.

(c) Net of accumulated depreciation of $579 million and $668 million in June 30, 2016 and December 31, 2015, respectively.

(d) Consists of investments in aircraft equipment held in consolidated trusts.

Net Investment Income

The following table presents the components of Net investment income:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
Fixed maturity securities, including short-term investments	$	2,992	$	2,800	$	5,928	$	5,683
Equity securities		(22)		66		(44)		81
Interest on mortgage and other loans		376		347		765		686
Alternative investments^*		310		658		(56)		1,244
Real estate		35		24		88		50
Other investments		101		48		238		189
Total investment income		3,792		3,943		6,919		7,933
Investment expenses		109		117		223		269
Net investment income	$	3,683	$	3,826	$	6,696	$	7,664

* Beginning in the first quarter of 2016, the presentation of income on alternative investments has been refined to include only income from hedge funds, private equity funds and affordable housing partnerships. Prior period disclosures have been reclassified to conform to this presentation. Hedge funds for which we elected the fair value option are recorded as of the balance sheet date. Other hedge funds are generally reported on a one-month lag, while private equity funds are generally reported on a one-quarter lag.

Net Realized Capital Gains and Losses

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
Sales of fixed maturity securities	$	124	$	135	$	(238)	$	166
Sales of equity securities		974		21		998		512
Other-than-temporary impairments:
Severity		(3)		-		(5)		(2)
Change in intent		(4)		(88)		(33)		(112)
Foreign currency declines		(1)		(3)		(7)		(32)
Issuer-specific credit events		(95)		(70)		(226)		(138)
Adverse projected cash flows		(5)		(3)		(41)		(8)
Provision for loan losses		(30)		(13)		-		11
Foreign exchange transactions		(38)		66		(558)		320
Derivatives and hedge accounting		170		288		97		496
Impairments on investments in life settlements		(92)		(72)		(249)		(142)
Other^*		42		(135)		198		396
Net realized capital gains (losses)	$	1,042	$	126	$	(64)	$	1,467

* Includes $107 million of realized gains due to a purchase price adjustment on the sale of Class B shares of Prudential Financial Inc. for the six months ended June 30, 2016 and $357 million of realized gains due to the sale of common shares of SpringLeaf Holdings, $428 million of realized gains due to the sale of Class B shares of Prudential Financial Inc. and $463 million of realized losses due to the sale of ordinary shares of AerCap for the six months ended June 30, 2015.

Change in Unrealized Appreciation (Depreciation) of Investments

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	5,584	$	(6,559)	$	10,362	$	(4,403)
Equity securities		(1,045)		287		(1,140)		(95)
Other investments		(66)		(37)		(214)		(540)
Total Increase (decrease) in unrealized appreciation (depreciation) of investments	$	4,473	$	(6,309)	$	9,008	$	(5,038)

Evaluating Investments for Other-Than-Temporary Impairments

For a discussion of our policy for evaluating investments for other-than-temporary impairments, see Note 5 to the Consolidated Financial Statements in the 2015 Annual Report.

Credit Impairments

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
Balance, beginning of period	$	1,523	$	2,466	$	1,747	$	2,659
Increases due to:
Credit impairments on new securities subject to impairment losses		13		35		123		50
Additional credit impairments on previously impaired securities		74		25		129		47
Reductions due to:
Credit impaired securities fully disposed of for which there was no
prior intent or requirement to sell		(93)		(108)		(243)		(150)
Accretion on securities previously impaired due to credit^*		(219)		(180)		(458)		(368)
Balance, end of period	$	1,298	$	2,238	$	1,298	$	2,238

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

Purchased Credit Impaired (PCI) Securities

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

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

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

(in millions)	At Date of Acquisition
Contractually required payments (principal and interest)	$	34,940
Cash flows expected to be collected^*		28,437
Recorded investment in acquired securities		19,059

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

(in millions)	June 30, 2016		December 31, 2015
Outstanding principal balance	$	17,173	$	16,871
Amortized cost		12,397		12,303
Fair value		12,992		13,164

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
Balance, beginning of period	$	6,622	$	6,765	$	6,846	$	6,865
Newly purchased PCI securities		245		170		451		415
Disposals		-		(13)		-		(13)
Accretion		(209)		(221)		(423)		(441)
Effect of changes in interest rate indices		60		(6)		(239)		(144)
Net reclassification from (to) non-accretable difference,
including effects of prepayments		325		138		408		151
Balance, end of period	$	7,043	$	6,833	$	7,043	$	6,833

Pledged Investments

Secured Financing and Similar Arrangements

We enter into secured financing transactions whereby certain securities are sold under agreements to repurchase (repurchase agreements), in which we transfer securities in exchange for cash, with an agreement by us to repurchase the same or substantially similar securities. Our secured financing transactions also include those that involve the transfer of securities to financial institutions in exchange for cash (securities lending agreements). In all of these secured financing transactions, the securities transferred by us (pledged collateral) may be sold or repledged by the counterparties. These agreements are recorded at their contracted amounts plus accrued interest, other than those that are accounted for at fair value.

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

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

(in millions)		June 30, 2016		December 31, 2015
Fixed maturity securities available for sale	$	1,704	$	1,145
Other bond securities, at fair value	$	2,093	$	1,740

At June 30, 2016 and December 31, 2015, amounts borrowed under repurchase and securities lending agreements totaled $3.8 billion and $2.9 billion, respectively.

The following table presents the fair value of securities pledged under our repurchase agreements by collateral type and by remaining contractual maturity:

	Remaining Contractual Maturity of the Agreements
(in millions)	Overnight and Continuous			up to 30 days		31 - 90 days		91 - 364 days		365 days or greater		Total
June 30, 2016
Other bond securities:
U.S. government and government sponsored entities	$	116	$	-	$	-	$	-	$	-	$	116
Non-U.S. governments		-		-		-		55		-		55
Corporate debt		-		73		734		980		120		1,907
Total	$	116	$	73	$	734	$	1,035	$	120	$	2,078

December 31, 2015
Bonds available for sale:
Non-U.S. governments	$	-	$	50	$	-	$	-	$	-	$	50
Other bond securities:
Non-U.S. governments		-		-		-		49		-		49
Corporate debt		-		33		332		1,326		-		1,691
Total	$	-	$	83	$	332	$	1,375	$	-	$	1,790

The following table presents the fair value of securities pledged under our securities lending agreements by collateral type and by remaining contractual maturity:

	Remaining Contractual Maturity of the Agreements
(in millions)		Overnight and Continuous		up to 30 days		31 - 90 days		91 - 364 days		365 days or greater		Total
June 30, 2016
Bonds available for sale:
Corporate debt	$	-	$	285	$	713	$	243	$	20	$	1,261
RMBS		-		241		201		-		-		442
Other bond securities:
RMBS		-		9		7		-		-		16
Total	$	-	$	535	$	921	$	243	$	20	$	1,719

December 31, 2015
Bonds available for sale:
Non-U.S. governments	$	-	$	-	$	57	$	-	$	-	$	57
Corporate debt		-		-		914		-		-		914
RMBS		-		-		-		124		-		124
Total	$	-	$	-	$	971	$	124	$	-	$	1,095

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)		June 30, 2016		December 31, 2015
Securities collateral pledged to us	$	1,489	$	1,742
Amount sold or repledged by us	$	105	$	-

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 $5.1 billion and $4.9 billion at June 30, 2016 and December 31, 2015, 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 $107 million and $47 million of stock in FHLBs at June 30, 2016 and December 31, 2015, respectively. In addition, our subsidiaries have pledged securities available for sale with a fair value of $3.5 billion and $1.2 billion at June 30, 2016 and December 31, 2015, 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 $2.3 billion and $2.4 billion at June 30, 2016 and December 31, 2015, 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.

Short-term investments held in escrow accounts or otherwise subject to restriction as to their use were $507 million and $439 million at June 30, 2016 and December 31, 2015, respectively.

- Definition

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

+ References + Details

LENDING ACTIVITIES

6 Months Ended

Jun. 30, 2016

LENDING ACTIVITIES

LENDING ACTIVITIES

6. LENDING ACTIVITIES

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

	June 30,			December 31,
(in millions)		2016		2015
Commercial mortgages^*	$	22,904	$	22,067
Residential mortgages		3,307		2,758
Commercial loans, other loans and notes receivable		2,820		2,451
Life insurance policy loans		2,538		2,597
Total mortgage and other loans receivable		31,569		29,873
Allowance for credit losses		(308)		(308)
Mortgage and other loans receivable, net	$	31,261	$	29,565

* Commercial mortgages primarily represent loans for offices, retail properties and apartments, with exposures in New York and California representing the largest geographic concentrations (aggregating approximately 24 percent and 12 percent, respectively, at June 30, 2016, and 22 percent and 12 percent, respectively, at December 31, 2015).

Credit Quality of Commercial Mortgages

The following table presents debt service coverage ratios and loan-to-value ratios for commercial mortgages:

	Debt Service Coverage Ratios^(a)
(in millions)		>1.20X		1.00X - 1.20X		<1.00X		Total
June 30, 2016
Loan-to-Value Ratios^(b)
Less than 65%	$	12,105	$	1,873	$	139	$	14,117
65% to 75%		5,660		352		43		6,055
76% to 80%		1,445		164		84		1,693
Greater than 80%		576		267		196		1,039
Total commercial mortgages	$	19,786	$	2,656	$	462	$	22,904

December 31, 2015
Loan-to-Value Ratios^(b)
Less than 65%	$	10,283	$	1,704	$	150	$	12,137
65% to 75%		6,361		611		45		7,017
76% to 80%		1,370		169		81		1,620
Greater than 80%		646		226		421		1,293
Total commercial mortgages	$	18,660	$	2,710	$	697	$	22,067

(a) The debt service coverage ratio compares a property’s net operating income to its debt service payments, including principal and interest.

(b) The loan-to-value ratio compares the current unpaid principal balance of the loan to the estimated fair value of the underlying property collateralizing the loan.

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

	Number															Percent
	of	Class														of
(dollars in millions)	Loans	Apartments			Offices		Retail	Industrial			Hotel		Others		Total^(c)	Total $
June 30, 2016
Credit Quality Performance Indicator:
In good standing	802	$	4,342	$	7,647	$	4,995	$	1,713	$	2,454	$	1,450	$	22,601	99	%
Restructured^(a)	8		-		235		19		-		16		-		270	1
90 days or less delinquent	-		-		-		-		-		-		-		-	-
>90 days delinquent or in
process of foreclosure	7		3		12		-		-		6		12		33	-
Total^(b)	817	$	4,345	$	7,894	$	5,014	$	1,713	$	2,476	$	1,462	$	22,904	100	%
Allowance for credit losses:
Specific		$	-	$	4	$	1	$	6	$	1	$	-	$	12	-	%
General			48		55		44		6		21		12		186	1
Total allowance for credit losses		$	48	$	59	$	45	$	12	$	22	$	12	$	198	1	%

December 31, 2015
Credit Quality Performance 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	%

(a) Loans that have been modified in troubled debt restructurings and are performing according to their restructured terms. For additional discussion of troubled debt restructurings, see Note 6 to the Consolidated Financial Statements in the 2015 Annual Report.

(b) Does not reflect allowance for credit losses.

(c) Approximately all of the commercial mortgages held at such respective dates were current as to payments of principal and interest. There were no significant amounts of nonperforming commercial mortgages (defined as those loans where payment of contractual principal or interest is more than 90 days past due) during any of the periods presented.

Allowance for Credit Losses

See Note 6 to the Consolidated Financial Statements in the 2015 Annual Report for a discussion of our accounting policy for evaluating Mortgage and other loans receivable for impairment.

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

	2016						2015
Six Months Ended June 30,		Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	171	$	137	$	308	$	159	$	112	$	271
Loans charged off		(13)		-		(13)		(4)		(1)		(5)
Recoveries of loans previously charged off		11		-		11		3		1		4
Net charge-offs		(2)		-		(2)		(1)		-		(1)
Provision for loan losses		29		(27)		2		(9)		(3)		(12)
Other		-		-		-		2		2		4
Allowance, end of period	$	198 ^*	$	110	$	308	$	151 ^*	$	111	$	262

* Of the total allowance, $12 million and $30 million relate to individually assessed credit losses on $352 million and $570 million of commercial mortgages at June 30, 2016 and 2015, respectively.

During the six-month periods ended June 30, 2016 and 2015, loans with a carrying value of $84 million and $97 million, respectively, were modified in troubled debt restructurings.

VARIABLE INTEREST ENTITIES

6 Months Ended

Jun. 30, 2016

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES

7. VARIABLE INTEREST ENTITIES

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

The primary beneficiary of a VIE 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.

Balance Sheet Classification and Exposure to Loss

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

(in millions)		Real Estate and Investment Entities^(d)		Securitization Vehicles		Structured Investment Vehicle		Affordable Housing Partnerships		Other		Total
June 30, 2016
Assets:
Bonds available for sale	$	-	$	10,116	$	-	$	-	$	8	$	10,124
Other bond securities		-		5,254		334		-		6		5,594
Mortgage and other loans receivable		1		1,654		-		-		118		1,773
Other invested assets		2,043		427		-		2,848		25		5,343
Other ^(a)		570		912		78		296		168		2,024
Total assets^(b)	$	2,614	$	18,363	$	412	$	3,144	$	325	$	24,858
Liabilities:
Long-term debt	$	1,538	$	845	$	52	$	1,639	$	6	$	4,080
Other ^(c)		216		216		-		235		142		809
Total liabilities	$	1,754	$	1,061	$	52	$	1,874	$	148	$	4,889
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)	$	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	$	34	$	1,261	$	54	$	1,727	$	77	$	3,153

(a) Comprised primarily of Short-term investments and Other assets at June 30, 2016 and December 31, 2015.

(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 June 30, 2016 and December 31, 2015.

(d) At June 30, 2016 and December 31, 2015, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $119 million and $131 million, respectively.

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

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

			Maximum Exposure to Loss
		Total VIE		On-Balance		Off-Balance
(in millions)		Assets		Sheet^(a)		Sheet			Total
June 30, 2016
Real estate and investment entities^(d)	$	425,402	$	12,346	$	2,166		$	14,512
Affordable housing partnerships		4,908		825		-			825
Other		4,346		339		779	^(b)		1,118
Total^(c)	$	434,656	$	13,510	$	2,945		$	16,455
December 31, 2015
Real estate and investment entities^(d)	$	21,951	$	3,072	$	398		$	3,470
Affordable housing partnerships		5,255		774		-			774
Other		1,110		215		1,000	^(b)		1,215
Total	$	28,316	$	4,061	$	1,398		$	5,459

(a) At June 30, 2016 and December 31, 2015, $ 13.0 billion and $3.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.

(b) These amounts primarily 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) As discussed in Note 2, on January 1, 2016, we adopted accounting guidance that resulted in an increase in the number of our investment entities classified as VIEs.

(d) Comprised primarily of hedge funds and private equity funds.

See Note 9 to the Consolidated Financial Statements in the 2015 Annual Report for additional information on VIEs.

DERIVATIVES AND HEDGE ACCOUNTING

6 Months Ended

Jun. 30, 2016

DERIVATIVES AND HEDGE ACCOUNTING

DERIVATIVES AND HEDGE ACCOUNTING

8. DERIVATIVES AND HEDGE ACCOUNTING

We use derivatives and other financial instruments as part of our financial risk management programs and as part of our investment operations. See Note 10 to the Consolidated Financial Statements in the 2015 Annual Report for a discussion of our accounting policies and procedures regarding derivatives and hedge accounting.

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

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

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

	June 30, 2016								December 31, 2015
	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	$	519	$	4	$	520	$	3	$	301	$	1	$	725	$	2
Foreign exchange contracts		5,081		455		852		32		2,903		207		914		56
Equity contracts		120		1		-		-		-		-		121		23
Derivatives not designated
as hedging instruments:^(a)
Interest rate contracts		68,331		5,025		30,817		3,023		45,846		3,161		65,733		2,197
Foreign exchange contracts		11,131		1,041		7,784		1,419		9,472		559		8,900		1,148
Equity contracts		11,046		278		7,478		5		6,656		177		5,028		45
Credit contracts^(b)		4		3		967		376		4		3		1,289		508
Other contracts^(c)		38,793		23		192		125		37,586		23		203		69
Total derivatives, gross	$	135,025	$	6,830	$	48,610	$	4,983	$	102,768	$	4,131	$	82,913	$	4,048
Counterparty netting^(d)				(2,192)				(2,192)				(1,268)				(1,268)
Cash collateral^(e)				(3,233)				(738)				(1,554)				(760)
Total derivatives on condensed
consolidated balance sheets^(f)			$	1,405			$	2,053			$	1,309			$	2,020

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

(b) As of June 30, 2016 and December 31, 2015, included CDSs on super senior multi-sector CDOs with a net notional amount of $0.9 billion and $1.1 billion (fair value liability of $353 million and $483 million), respectively. The expected weighted average maturity as of June 30, 2016 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 June 30, 2016 and December 31, 2015, there were no super senior corporate debt/CLOs remaining.

(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 $0 at both June 30, 2016 and December 31, 2015. Fair value of liabilities related to bifurcated Embedded derivatives was $4.1 billion and $2.3 billion, respectively, at June 30, 2016 and December 31, 2015. A bifurcated Embedded derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets. Embedded derivatives are primarily related to guarantee features in variable annuity products, which include equity and interest rate components.

Collateral

We engage in derivative transactions that are not subject to a clearing requirement directly with unaffiliated third parties, in most cases, under International Swaps and Derivatives Association, Inc. (ISDA) Master Agreements. Many of the ISDA Master Agreements also include Credit Support Annex (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 $3.1 billion and $3.0 billion at June 30, 2016 and December 31, 2015, 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 $3.3 billion and $1.6 billion at June 30, 2016 and December 31, 2015, respectively. In the case of collateral provided to us under derivative transactions that are not subject to clearing, we generally can repledge or resell collateral.

Offsetting

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

Hedge Accounting

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

We use foreign currency denominated debt and cross-currency swaps as hedging instruments in net investment hedge relationships to mitigate the foreign exchange risk associated with our non-U.S. dollar functional currency foreign subsidiaries. For net investment hedge relationships where issued debt is used as a hedging instrument, we assess the hedge effectiveness and measure the amount of ineffectiveness based on changes in spot rates. For net investment hedge relationships that use derivatives as hedging instruments, we assess hedge effectiveness and measure hedge ineffectiveness using changes in forward rates. For the three- and six-month periods ended June 30, 2016, we recognized losses of $4 million and $9 million, respectively, and for the three- and six-month periods ended June 30, 2015, we recognized gains (losses) of $(21) million and $73 million, respectively, included in Change in foreign currency translation adjustment in Other comprehensive income related to the net investment hedge relationships.

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

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

	Gains/(Losses) Recognized in Earnings for:				Including Gains/(Losses) Attributable to:
	Hedging		Hedged		Hedge		Excluded
(in millions)	Derivatives^(a)		Items		Ineffectiveness		Components		Other^(b)
Three Months Ended June 30, 2016
Interest rate contracts:
Realized capital gains/(losses)	$	-	$	-	$	-	$	-	$	-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		5		-		-		5
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Foreign exchange contracts:
Realized capital gains/(losses)		389		(345)		-		43		1
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		5		-		-		5
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Equity contracts:
Realized capital gains/(losses)		10		(7)		-		3		-
Three Months Ended June 30, 2015
Interest rate contracts:
Realized capital gains/(losses)	$	-	$	-	$	-	$	-	$	-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		2		-		-		2
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Foreign exchange contracts:
Realized capital gains/(losses)		(60)		73		-		13		-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		4		-		-		4
Gain/(Loss) on extinguishment of debt		-		1		-		-		1
Equity contracts:
Realized capital gains/(losses)		(13)		13		-		-		-

	Gains/(Losses) Recognized in Earnings for:				Including Gains/(Losses) Attributable to:
	Hedging		Hedged		Hedge		Excluded
(in millions)	Derivatives^(a)		Items		Ineffectiveness		Components		Other^(b)
Six Months Ended June 30, 2016
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(7)	$	-	$	-	$	(6)
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		7		-		-		7
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Foreign exchange contracts:
Realized capital gains/(losses)		423		(409)		-		14		-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		12		-		-		12
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Equity contracts:
Realized capital gains/(losses)		20		(19)		-		1		-
Six Months Ended June 30, 2015
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(1)	$	-	$	-	$	-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		5		-		-		5
Gain/(Loss) on extinguishment of debt		-		13		-		-		13
Foreign exchange contracts:
Realized capital gains/(losses)		72		(56)		-		13		3
Interest credited to policyholder
account balances		-		(1)		-		-		(1)
Other income		-		10		-		-		10
Gain/(Loss) on extinguishment of debt		-		17		-		-		17
Equity contracts:
Realized capital gains/(losses)		(19)		18		-		(1)		-

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

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

Derivatives Not Designated as Hedging Instruments

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

	Gains (Losses) Recognized in Earnings
	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
By Derivative Type:
Interest rate contracts	$	603	$	(427)	$	1,373	$	(71)
Foreign exchange contracts		182		(52)		154		270
Equity contracts		(141)		(31)		(272)		(120)
Commodity contracts		-		-		-		(1)
Credit contracts		28		13		34		160
Other contracts		20		(35)		36		(13)
Embedded derivatives		(513)		846		(1,285)		673
Total	$	179	$	314	$	40	$	898
By Classification:
Policy fees	$	20	$	20	$	40	$	39
Net investment income		13		(13)		12		14
Net realized capital gains		123		305		88		476
Other income (losses)		18		8		(112)		370
Policyholder benefits and claims incurred		5		(6)		12		(1)
Total	$	179	$	314	$	40	$	898

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 both June 30, 2016 and December 31, 2015, was approximately $2.0 billion. The aggregate fair value of assets posted as collateral under these contracts at both June 30, 2016 and December 31, 2015, was approximately $2.1 billion.

We estimate that at June 30, 2016, based on our outstanding financial derivative transactions, a downgrade of our long-term senior debt ratings to BBB+, BBB or BBB– by Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc., and/or a downgrade to Baa2 or Baa3 by Moody’s Investors’ Service, Inc. would permit counterparties to make additional collateral calls and permit certain counterparties to elect early termination of contracts, resulting in corresponding collateral postings and termination payments in the total amount of up to approximately $137 million.

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 June 30, 2016. Factors considered in estimating the termination payments upon downgrade include current market conditions and the terms of the respective CSA provisions. Our estimates are also based on the assumption that counterparties will terminate based on their net exposure to us. The actual termination payments could differ from our estimates given market conditions at the time of downgrade and the level of uncertainty in estimating both the number of counterparties who may elect to exercise their right to terminate and the payment that may be triggered in connection with any such exercise.

Hybrid Securities with Embedded Credit Derivatives

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

We elect to account for our investments in these hybrid securities with embedded written credit derivatives at fair value, with changes in fair value recognized in Net investment income and Other income. Our investments in these hybrid securities are reported as Other bond securities in the Condensed Consolidated Balance Sheets. The fair values of these hybrid securities were $5.1 billion and $5.7 billion at June 30, 2016 and December 31, 2015, respectively. These securities have par amounts of $10.6 billion and $11.2 billion at June 30, 2016 and December 31, 2015, respectively, and have remaining stated maturity dates that extend to 2052.

- Definition

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

+ References

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CONTINGENCIES, COMMITMENTS AND GUARANTEES

6 Months Ended

Jun. 30, 2016

CONTINGENCIES, COMMITMENTS AND GUARANTEES

CONTINGENCIES, COMMITMENTS AND GUARANTEES

9. 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. 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 eight 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 remaining Individual Securities Litigation 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, which was denied on March 30, 2016. On April 11, 2016, AIG filed a demurrer to dismiss all of the claims asserted in the California Action. On May 31, 2016, the court overruled AIG’s demurrer in the California Action. On June 24, 2016, AIG filed a petition for writ of mandate in appellate court of the court’s decision overruling AIG’s demurrer.

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.

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. On May 5, 2016, the Ninth Circuit affirmed the decision of the trial court. 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. 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 was 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. The parties have settled this matter in principle, subject to formal documentation and court approval. Preliminary approval of the settlement was entered by the trial court on June 1, 2016. The hearing on final approval is expected in the third quarter. We have 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. On April 29, 2016, National Union and other AIG companies achieved a settlement in principle of civil litigation relating to the conduct of their accident and health business, subject to formal documentation and court approval. We have accrued our current estimate of loss with respect to this settlement. On May 23, 2016, the managing lead state in the multi-state examination ordered that the companies subject to the Regulatory Settlement Agreement have “complied with the terms” of the Regulatory Settlement Agreement and that no contingent fine or civil penalty would be due.

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 $3.2 billion at June 30, 2016.

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 June 30, 2016 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 Condensed Consolidated Balance Sheets.

Other

See Note 7 to the Condensed Consolidated Financial Statements for additional discussion of commitments and guarantees associated with VIEs.
See Note 8 to the Condensed Consolidated Financial Statements for additional disclosures about derivatives.
See Note 14 to the Condensed Consolidated Financial Statements for additional disclosures about guarantees of outstanding debt.

EQUITY

6 Months Ended

Jun. 30, 2016

EQUITY

EQUITY

10. EQUITY

Shares Outstanding

The following table presents a rollforward of outstanding shares:

	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Six Months Ended June 30, 2016
Shares, beginning of year	1,906,671,492	(712,754,875)	1,193,916,617
Shares issued	-	2,017,200	2,017,200
Shares repurchased	-	(113,244,455)	(113,244,455)
Shares, end of period	1,906,671,492	(823,982,130)	1,082,689,362

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 28, 2016, we paid a dividend of $0.32 per share on AIG Common Stock to shareholders of record on March 14, 2016. On June 27, 2016, we paid a dividend of $0.32 per share on AIG Common Stock to shareholders of record on June 13, 2016.

See Note 18 to the Consolidated Financial Statements in the 2015 Annual Report for a discussion of restrictions on payments of dividends to AIG Parent by its subsidiaries.

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 February 11, 2016, our Board of Directors authorized an additional increase of $5.0 billion to its previous share repurchase authorization. As of June 30, 2016, approximately $1.8 billion remained under our share repurchase authorization. Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise (including through the purchase of warrants). Certain of our share repurchases have been and may from time to time be effected through Exchange Act Rule 10b5-1 repurchase plans.

We repurchased approximately 113 million shares of AIG Common Stock in the six-month period ended June 30, 2016 for an aggregate purchase price of approximately $6.2 billion, and we repurchased 15 million warrants to purchase shares of AIG Common Stock for an aggregate purchase price of $263 million.

The timing of any future repurchases will depend on market conditions, our financial condition, results of operations, liquidity and other factors.

Accumulated Other Comprehensive Income

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

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


(in millions)										Total
Balance, December 31, 2015, net of tax	$	696	$	5,566	$	(2,879)	$	(846)	$	2,537
Change in unrealized appreciation (depreciation) of investments		(491)		9,499		-		-		9,008
Change in deferred policy acquisition costs adjustment and other		(8)		(682)		-		-		(690)
Change in future policy benefits		-		(1,583)		-		-		(1,583)
Change in foreign currency translation adjustments		-		-		158		-		158
Change in net actuarial loss		-		-		-		11		11
Change in prior service cost		-		-		-		(13)		(13)
Change in deferred tax asset (liability)		172		(1,398)		63		(6)		(1,169)
Total other comprehensive income (loss)		(327)		5,836		221		(8)		5,722
Noncontrolling interests		-		-		-		-		-
Balance, June 30, 2016, net of tax	$	369	$	11,402	$	(2,658)	$	(854)	$	8,259

Balance, December 31, 2014, net of tax	$	1,043	$	12,327	$	(1,784)	$	(969)	$	10,617
Change in unrealized depreciation of investments		(195)		(4,843)		-		-		(5,038)
Change in deferred policy acquisition costs adjustment and other		(9)		495		-		-		486
Change in future policy benefits		92		804		-		-		896
Change in foreign currency translation adjustments		-		-		(684)		-		(684)
Change in net actuarial loss		-		-		-		91		91
Change in prior service credit		-		-		-		(23)		(23)
Change in deferred tax asset (liability)		4		1,092		188		(12)		1,272
Total other comprehensive income (loss)		(108)		(2,452)		(496)		56		(3,000)
Noncontrolling interests		-		-		(3)		-		(3)
Balance, June 30, 2015, net of tax	$	935	$	9,875	$	(2,277)	$	(913)	$	7,620

The following table presents the other comprehensive income reclassification adjustments for the three-month periods ended June 30, 2016 and 2015, respectively:

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


(in millions)										Total
Three Months Ended June 30, 2016
Unrealized change arising during period	$	59	$	4,277	$	290	$	(11)	$	4,615
Less: Reclassification adjustments
included in net income		25		1,038		-		(4)		1,059
Total other comprehensive income (loss),
before income tax expense (benefit)		34		3,239		290		(7)		3,556
Less: Income tax expense (benefit)		12		830		(23)		3		822
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	22	$	2,409	$	313	$	(10)	$	2,734
Three Months Ended June 30, 2015
Unrealized change arising during period	$	35	$	(4,475)	$	(52)	$	14	$	(4,478)
Less: Reclassification adjustments
included in net income		46		99		-		(23)		122
Total other comprehensive income (loss),
before income tax expense (benefit)		(11)		(4,574)		(52)		37		(4,600)
Less: Income tax expense (benefit)		25		(1,583)		(15)		10		(1,563)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(36)	$	(2,991)	$	(37)	$	27	$	(3,037)
Six Months Ended June 30, 2016
Unrealized change arising during period	$	(399)	$	7,917	$	158	$	(10)	$	7,666
Less: Reclassification adjustments
included in net income		100		683		-		(8)		775
Total other comprehensive income (loss),
before income tax expense (benefit)		(499)		7,234		158		(2)		6,891
Less: Income tax expense (benefit)		(172)		1,398		(63)		6		1,169
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(327)	$	5,836	$	221	$	(8)	$	5,722
Six Months Ended June 30, 2015
Unrealized change arising during period	$	(57)	$	(2,968)	$	(684)	$	21	$	(3,688)
Less: Reclassification adjustments
included in net income		55		576		-		(47)		584
Total other comprehensive income (loss),
before income tax expense (benefit)		(112)		(3,544)		(684)		68		(4,272)
Less: Income tax expense (benefit)		(4)		(1,092)		(188)		12		(1,272)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(108)	$	(2,452)	$	(496)	$	56	$	(3,000)

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

	Amount Reclassified from Accumulated Other Comprehensive Income					Affected Line Item in the Condensed Consolidated Statements of Income

	Three Months Ended June 30,
(in millions)		2016		2015
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were taken

Investments		$	25	$	46		Other realized capital gains
Total			25		46
Unrealized appreciation (depreciation) of all other investments
Investments			1,074		112		Other realized capital gains
Deferred acquisition costs adjustment			(36)		(30)		Amortization of deferred policy acquisition costs
Future policy benefits			-		17		Policyholder benefits and losses incurred
Total			1,038		99
Change in retirement plan liabilities adjustment
Prior - service cost			5		11		*
Actuarial losses			(9)		(34)		*
Total			(4)		(23)
Total reclassifications for the period		$	1,059	$	122
	Amount Reclassified from Accumulated Other Comprehensive Income					Affected Line Item in the Condensed Consolidated Statements of Income

	Six Months Ended June 30,
(in millions)		2016		2015
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were taken

Investments		$	100	$	55		Other realized capital gains
Total			100		55
Unrealized appreciation (depreciation) of all other investments
Investments			661		624		Other realized capital gains
Deferred acquisition costs adjustment			22		(65)		Amortization of deferred policy acquisition costs
Future policy benefits			-		17		Policyholder benefits and losses incurred
Total			683		576
Change in retirement plan liabilities adjustment
Prior - service cost			9		23		*
Actuarial losses			(17)		(70)		*
Total			(8)		(47)		-
Total reclassifications for the period		$	775	$	584		-

* These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 12 to the Condensed Consolidated Financial Statements.

- Definition

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

+ References

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)

6 Months Ended

Jun. 30, 2016

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)

11. EARNINGS PER SHARE (EPS)

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

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(dollars in millions, except per share data)		2016		2015		2016		2015
Numerator for EPS:
Income from continuing operations	$	1,934	$	1,775	$	1,778	$	4,251
Less: Net income (loss) from continuing operations attributable to noncontrolling interests		11		(9)		(9)		-
Income attributable to AIG common shareholders from continuing operations		1,923		1,784		1,787		4,251
Income (loss) from discontinued operations, net of income tax expense		(10)		16		(57)		17
Net income attributable to AIG common shareholders		1,913		1,800		1,730		4,268
Denominator for EPS:
Weighted average shares outstanding - basic		1,113,587,927		1,329,157,366		1,135,068,193		1,347,452,833
Dilutive shares		26,458,046		36,233,065		28,021,555		28,873,138
Weighted average shares outstanding - diluted^*		1,140,045,973		1,365,390,431		1,163,089,748		1,376,325,971
Income per common share attributable to AIG:
Basic:
Income from continuing operations	$	1.73	$	1.34	$	1.57	$	3.16
Income (loss) from discontinued operations	$	(0.01)	$	0.01	$	(0.05)	$	0.01
Net income attributable to AIG	$	1.72	$	1.35	$	1.52	$	3.17
Diluted:
Income from continuing operations	$	1.69	$	1.31	$	1.54	$	3.09
Income (loss) from discontinued operations	$	(0.01)	$	0.01	$	(0.05)	$	0.01
Net income attributable to AIG	$	1.68	$	1.32	$	1.49	$	3.10

* Dilutive shares include our share-based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011. The number of shares excluded from diluted shares outstanding was 0.1 million and 0.3 million for the three- and six-month periods ended June 30, 2016, respectively, and 0.2 million and 0.3 million for the three- and six-month periods ended June 30, 2015, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS

6 Months Ended

Jun. 30, 2016

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS

12. EMPLOYEE BENEFITS

We sponsor various defined benefit pension plans, post-retirement medical and life insurance plans for eligible employees and retirees in the U.S. and certain non-U.S. countries. Effective January 1, 2016, the U.S. defined benefit pension plans were frozen for current participants and closed to new hires. Accordingly, compensation-based benefits are no longer credited to the cash balance accounts of plan participants.

Beginning in 2016, interest cost for pension and postretirement benefits for our U.S. plans and largest non-U.S. plans is measured by applying the specific spot rates along the yield curve to the plans’ corresponding discounted cash flows that comprise the obligation (the Spot Rate Approach). This method provides a more precise measurement of interest cost by aligning the timing of the plans’ discounted cash flows to the corresponding spot rates on the yield curve. Previously, we measured interest cost utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligations.

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

	Pension						Postretirement
		U.S.		Non-U.S.				U.S.		Non-U.S.
(in millions)		Plans		Plans		Total		Plans		Plans		Total
Three Months Ended June 30, 2016
Components of net periodic benefit cost:
Service cost	$	5	$	7	$	12	$	-	$	1	$	1
Interest cost		45		5		50		2		1		3
Expected return on assets		(74)		(6)		(80)		-		-		-
Amortization of prior service credit		-		-		-		(3)		-		(3)
Amortization of net loss		6		2		8		-		-		-
Curtailment gain		-		(1)		(1)		-		-		-
Net periodic benefit (income) cost	$	(18)	$	7	$	(11)	$	(1)	$	2	$	1
Three Months Ended June 30, 2015
Components of net periodic benefit cost:
Service cost	$	51	$	10	$	61	$	1	$	1	$	2
Interest cost		55		6		61		2		-		2
Expected return on assets		(72)		(6)		(78)		-		-		-
Amortization of prior service credit		(8)		-		(8)		(2)		-		(2)
Amortization of net loss		33		2		35		-		-		-
Curtailment gain		-		(1)		(1)		-		-		-
Net periodic benefit cost	$	59	$	11	$	70	$	1	$	1	$	2
Six Months Ended June 30, 2016
Components of net periodic benefit cost:
Service cost	$	9	$	15	$	24	$	1	$	2	$	3
Interest cost		91		10		101		3		2		5
Expected return on assets		(147)		(13)		(160)		-		-		-
Amortization of prior service credit		-		-		-		(5)		-		(5)
Amortization of net loss		12		4		16		-		-		-
Curtailment gain		-		(3)		(3)		-		-		-
Net periodic benefit (income) cost	$	(35)	$	13	$	(22)	$	(1)	$	4	$	3
Six Months Ended June 30, 2015
Components of net periodic benefit cost:
Service cost	$	103	$	21	$	124	$	3	$	2	$	5
Interest cost		110		12		122		4		1		5
Expected return on assets		(144)		(12)		(156)		-		-		-
Amortization of prior service credit		(16)		(1)		(17)		(5)		-		(5)
Amortization of net loss		65		5		70		-		-		-
Curtailment gain		-		(1)		(1)		-		-		-
Net periodic benefit cost	$	118	$	24	$	142	$	2	$	3	$	5

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2016
INCOME TAXES
INCOME TAXES	13. INCOME TAXES Interim Tax Calculation Method We use the estimated annual effective tax rate method in computing our interim tax provision. Certain items, including those deemed to be unusual, infrequent or that cannot be reliably estimated, are excluded from the estimated annual effective tax rate. In these cases, the actual tax expense or benefit is reported in the same period as the related item. Certain tax effects are also not reflected in the estimated annual effective tax rate, primarily certain changes in the realizability of deferred tax assets and uncertain tax positions. Interim Tax Expense (Benefit) For the three-month period ended June 30, 2016, 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 associated with tax exempt interest income and reclassifications from accumulated other comprehensive income to income from continuing operations related to the disposal of available for sale securities, partially offset by increases in the deferred tax asset valuation allowances associated with certain foreign jurisdictions. For the six-month period ended June 30, 2016, the effective tax rate on income from continuing operations was 32.8 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits associated with tax exempt interest income, the impact of an agreement reached with the Internal Revenue Service (IRS) related to certain tax issues under audit and reclassifications from accumulated other comprehensive income to income from continuing operations related to the disposal of available for sale securities, partially offset by a tax charge and related interest associated with increases in uncertain tax positions related to cross border financing transactions. For the three- and six-month periods ended June 30, 2015, the effective tax rate on income from continuing operations was 30.4 percent and 32.8 percent, respectively. The effective tax rate on income from continuing operations in both periods differs from the statutory tax rate of 35 percent primarily due to tax benefits associated with tax exempt interest income, reclassifications from accumulated other comprehensive income to income from continuing operations related to the deferred tax asset valuation allowance previously released to accumulated other comprehensive income, and changes in the deferred tax asset valuation allowance associated with certain foreign jurisdictions. For the three-month period ended June 30, 2015, there was a decrease in the deferred tax asset valuation allowance associated with certain foreign jurisdictions primarily attributable to changes in projections of future taxable income. The six-month period ended June 30, 2015 includes an increase in the deferred tax asset valuation allowance primarily attributable to the effects of changes in the Japanese tax law enacted on March 31, 2015, partially offset by changes in projections of future taxable income. 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 June 30, 2016, 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- and six-month periods ended June 30, 2016, recent changes in market conditions, including falling interest rates, impacted the unrealized tax gains and losses in the U.S. Life Insurance Companies’ available for sale securities portfolio, resulting in a net deferred tax liability related to net unrealized tax capital gains. Accordingly, as of June 30, 2016, based on all available evidence, we concluded that the valuation allowance should be released. As a result, for the three- and six-month periods ended June 30, 2016, we released $350 million and $1.2 billion, respectively, of valuation allowance associated with the unrealized tax losses in the U.S. Life Insurance Companies’ available for sale securities portfolio, all of which was recognized in other comprehensive income. During the three- and six-month periods ended June 30, 2016, we recognized a net increase of $35 million and $1 million, respectively, 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 six-month period ended June 30, 2016 also included a decrease in our deferred tax asset valuation allowance resulting from changes in projections of taxable income. Tax Examinations and Litigation On August 1, 2012, we filed a motion for partial summary judgment related to the disallowance of foreign tax credits associated with cross border financing transactions in the Southern District of New York. On March 29, 2013, the Southern District of New York 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 of New York. On October 13, 2015, we filed a petition for a writ of certiorari to the U.S Supreme Court. On March 7, 2016 the U.S. Supreme Court denied our petition for certiorari. As a result, the case will be remanded back to the Southern District of New York for a jury 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, including recent decisions affecting other taxpayers, and evaluate their effect, if any, on our position. Accounting for Uncertainty in Income Taxes At June 30, 2016 and December 31, 2015, our unrecognized tax benefits, excluding interest and penalties, were $4.5 billion and $4.3 billion, respectively. The six-month period ended June 30, 2016, reflects an increase in amounts associated with cross border financing transactions, partially offset by benefits realized due to an agreement reached with the IRS related to certain tax issues under audit. At both June 30, 2016 and December 31, 2015, our unrecognized tax benefits related to tax positions that, if recognized, would not affect the effective tax rate because they relate to such factors as the timing, rather the permissibility, of the deduction were $0.1 billion. Accordingly, at June 30, 2016 and December 31, 2015, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $4.4 billion and $4.2 billion, respectively. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At both June 30, 2016 and December 31, 2015, we had accrued liabilities of $1.2 billion for the payment of interest (net of the federal benefit) and penalties. For the six-month period ended June 30, 2016, we accrued benefits of $48 million for the payment of interest and penalties primarily related to benefits associated with an agreement reached with the IRS related to certain tax issues under audit, partially offset by an increase associated with cross border financing transactions. For the six-month period ended June 30, 2015, we accrued benefits of $15 million. We regularly evaluate adjustments proposed by taxing authorities. At June 30, 2016, 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.

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

6 Months Ended

Jun. 30, 2016

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

14. INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

The following Condensed Consolidating Financial Statements reflect the results of AIGLH, a holding company and a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of all outstanding debt of AIGLH.

Condensed Consolidating Balance Sheets

		American
		International					Reclassifications
		Group, Inc.				Other		and	Consolidated
(in millions)	(As Guarantor)			AIGLH		Subsidiaries		Eliminations		AIG
June 30, 2016
Assets:
Short-term investments	$	3,727	$	-	$	12,769	$	(4,162)	$	12,334
Other investments^(a)		5,790		-		332,543		-		338,333
Total investments		9,517		-		345,312		(4,162)		350,667
Cash		12		6		1,766		-		1,784
Loans to subsidiaries^(b)		35,007		-		395		(35,402)		-
Investment in consolidated subsidiaries^(b)		58,001		33,137		-		(91,138)		-
Other assets, including deferred income taxes		24,455		132		136,529		(3,218)		157,898
Total assets	$	126,992	$	33,275	$	484,002	$	(133,920)	$	510,349
Liabilities:
Insurance liabilities	$	-	$	-	$	278,518	$	-	$	278,518
Long-term debt		22,208		641		10,480		-		33,329
Other liabilities, including intercompany balances^(a)		14,444		65		101,009		(7,553)		107,965
Loans from subsidiaries^(b)		394		-		35,008		(35,402)		-
Total liabilities		37,046		706		425,015		(42,955)		419,812
Total AIG shareholders’ equity		89,946		32,569		58,396		(90,965)		89,946
Non-redeemable noncontrolling interests		-		-		591		-		591
Total equity		89,946		32,569		58,987		(90,965)		90,537
Total liabilities and equity	$	126,992	$	33,275	$	484,002	$	(133,920)	$	510,349

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		23,299		258		135,690		(2,388)		156,859
Total assets	$	121,878	$	30,613	$	468,181	$	(123,830)	$	496,842
Liabilities:
Insurance liabilities	$	-	$	-	$	271,645	$	-	$	271,645
Long-term debt		19,777		704		8,768		-		29,249
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		32,220		908		416,118		(42,614)		406,632
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	$	121,878	$	30,613	$	468,181	$	(123,830)	$	496,842

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

(b) Eliminated in consolidation.

Condensed Consolidating Statements of Income


		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended June 30, 2016
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	2,168	$	888	$	-	$	(3,056)	$	-
Other income		127		-		14,843		(246)		14,724
Total revenues		2,295		888		14,843		(3,302)		14,724
Expenses:
Interest expense		250		13		59		(2)		320
Loss on extinguishment of debt		-		-		7		-		7
Other expenses		257		7		11,520		(245)		11,539
Total expenses		507		20		11,586		(247)		11,866
Income (loss) from continuing operations before income tax
expense (benefit)		1,788		868		3,257		(3,055)		2,858
Income tax expense (benefit)		(125)		(7)		1,056		-		924
Income (loss) from continuing operations		1,913		875		2,201		(3,055)		1,934
Loss from discontinued operations, net of income taxes		-		-		(10)		-		(10)
Net income (loss)		1,913		875		2,191		(3,055)		1,924
Less:
Net income from continuing operations attributable to
noncontrolling interests		-		-		11		-		11
Net income (loss) attributable to AIG	$	1,913	$	875	$	2,180	$	(3,055)	$	1,913
Three Months Ended June 30, 2015
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	2,319	$	749	$	-	$	(3,068)	$	-
Other income		14		-		15,916		(231)		15,699
Total revenues		2,333		749		15,916		(3,299)		15,699
Expenses:
Interest expense		267		14		65		(30)		316
Loss on extinguishment of debt		297		-		45		-		342
Other expenses		301		47		12,343		(202)		12,489
Total expenses		865		61		12,453		(232)		13,147
Income (loss) from continuing operations before income tax
expense (benefit)		1,468		688		3,463		(3,067)		2,552
Income tax expense (benefit)		(333)		(20)		1,129		1		777
Income (loss) from continuing operations		1,801		708		2,334		(3,068)		1,775
Income (loss) from discontinued operations, net of income taxes		(1)		-		17		-		16
Net income (loss)		1,800		708		2,351		(3,068)		1,791
Less:
Net loss from continuing operations attributable to
noncontrolling interests		-		-		(9)		-		(9)
Net income (loss) attributable to AIG	$	1,800	$	708	$	2,360	$	(3,068)	$	1,800


		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Six Months Ended June 30, 2016
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,224	$	(795)	$	-	$	(429)	$	-
Other income		64		5		26,881		(447)		26,503
Total revenues		1,288		(790)		26,881		(876)		26,503
Expenses:
Interest expense		494		27		108		(3)		626
Loss on extinguishment of debt		77		-		13		-		90
Other expenses		448		14		23,125		(444)		23,143
Total expenses		1,019		41		23,246		(447)		23,859
Income (loss) from continuing operations before income tax
expense (benefit)		269		(831)		3,635		(429)		2,644
Income tax expense (benefit)		(1,462)		(13)		2,341		-		866
Income (loss) from continuing operations		1,731		(818)		1,294		(429)		1,778
Loss from discontinued operations, net of income taxes		(1)		-		(56)		-		(57)
Net income (loss)		1,730		(818)		1,238		(429)		1,721
Less:
Net loss from continuing operations attributable to
noncontrolling interests		-		-		(9)		-		(9)
Net income (loss) attributable to AIG	$	1,730	$	(818)	$	1,247	$	(429)	$	1,730
Six Months Ended June 30, 2015
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	5,076	$	1,522	$	-	$	(6,598)	$	-
Other income		164		-		31,830		(320)		31,674
Total revenues		5,240		1,522		31,830		(6,918)		31,674
Expenses:
Interest expense		556		30		130		(60)		656
Loss on extinguishment of debt		358		-		45		7		410
Other expenses		547		42		23,952		(261)		24,280
Total expenses		1,461		72		24,127		(314)		25,346
Income (loss) from continuing operations before income tax
expense (benefit)		3,779		1,450		7,703		(6,604)		6,328
Income tax expense (benefit)		(490)		(63)		2,630		-		2,077
Income (loss) from continuing operations		4,269		1,513		5,073		(6,604)		4,251
Income (loss) from discontinued operations, net of income taxes		(1)		-		18		-		17
Net income (loss)		4,268		1,513		5,091		(6,604)		4,268
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests		-		-		-		-		-
Net income (loss) attributable to AIG	$	4,268	$	1,513	$	5,091	$	(6,604)	$	4,268

* Eliminated in consolidation.

Condensed Consolidating Statements of Comprehensive Income

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended June 30, 2016
Net income (loss)	$	1,913	$	875	$	2,191	$	(3,055)	$	1,924
Other comprehensive income (loss)		2,734		7,734		(7,006)		(728)		2,734
Comprehensive income (loss)		4,647		8,609		(4,815)		(3,783)		4,658
Total comprehensive income attributable to noncontrolling interests		-		-		11		-		11
Comprehensive income (loss) attributable to AIG	$	4,647	$	8,609	$	(4,826)	$	(3,783)	$	4,647
Three Months Ended June 30, 2015
Net income (loss)	$	1,800	$	708	$	2,351	$	(3,068)	$	1,791
Other comprehensive income (loss)		(3,037)		3,582		53,694		(57,276)		(3,037)
Comprehensive income (loss)		(1,237)		4,290		56,045		(60,344)		(1,246)
Total comprehensive loss attributable to noncontrolling interests		-		-		(9)		-		(9)
Comprehensive income (loss) attributable to AIG	$	(1,237)	$	4,290	$	56,054	$	(60,344)	$	(1,237)
Six Months Ended June 30, 2016
Net income (loss)	$	1,730	$	(818)	$	1,238	$	(429)	$	1,721
Other comprehensive income (loss)		5,722		7,260		48,548		(55,808)		5,722
Comprehensive income (loss)		7,452		6,442		49,786		(56,237)		7,443
Total comprehensive loss attributable to noncontrolling interests		-		-		(9)		-		(9)
Comprehensive income (loss) attributable to AIG	$	7,452	$	6,442	$	49,795	$	(56,237)	$	7,452
Six Months Ended June 30, 2015
Net income (loss)	$	4,268	$	1,513	$	5,091	$	(6,604)	$	4,268
Other comprehensive income (loss)		(2,997)		4,490		52,633		(57,126)		(3,000)
Comprehensive income (loss)		1,271		6,003		57,724		(63,730)		1,268
Total comprehensive loss attributable to noncontrolling interests		-		-		(3)		-		(3)
Comprehensive income (loss) attributable to AIG	$	1,271	$	6,003	$	57,727	$	(63,730)	$	1,271

Condensed Consolidating Statements of Cash Flows

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries^*		Eliminations^*		AIG
Six Months Ended June 30, 2016
Net cash (used in) provided by operating activities	$	2,734	$	680	$	(1,022)	$	(1,821)	$	571
Cash flows from investing activities:
Sales of investments		1,944		-		39,689		(6,846)		34,787
Purchase of investments		(606)		-		(40,877)		6,846		(34,637)
Loans to subsidiaries - net		1,050		-		180		(1,230)		-
Contributions from (to) subsidiaries - net		880		-		-		(880)		-
Net change in restricted cash		-		-		(78)		-		(78)
Net change in short-term investments		(733)		-		(1,022)		-		(1,755)
Other, net		(298)		-		1,717		-		1,419
Net cash (used in) provided by investing activities		2,237		-		(391)		(2,110)		(264)
Cash flows from financing activities:
Issuance of long-term debt		3,832		-		2,856		-		6,688
Repayments of long-term debt		(1,421)		(63)		(1,435)		-		(2,919)
Purchase of common stock		(6,248)		-		-		-		(6,248)
Intercompany loans - net		(180)		(3)		(1,047)		1,230		-
Cash dividends paid		(713)		(724)		(1,097)		1,821		(713)
Other, net		(263)		-		2,385		880		3,002
Net cash (used in) provided by financing activities		(4,993)		(790)		1,662		3,931		(190)
Effect of exchange rate changes on cash		-		-		38		-		38
Change in cash		(22)		(110)		287		-		155
Cash at beginning of year		34		116		1,479		-		1,629
Cash at end of period	$	12	$	6	$	1,766	$	-	$	1,784

Six Months Ended June 30, 2015
Net cash (used in) provided by operating activities	$	2,230	$	527	$	2,581	$	(4,845)	$	493
Cash flows from investing activities:
Sales of investments		4,703		-		36,970		(2,667)		39,006
Purchase of investments		(942)		-		(32,708)		2,667		(30,983)
Loans to subsidiaries - net		189		-		130		(319)		-
Contributions from (to) subsidiaries - net		-		-		-		-		-
Net change in restricted cash		-		-		1,462		-		1,462
Net change in short-term investments		(2,093)		-		(600)		-		(2,693)
Other, net		(65)		-		(1,441)		-		(1,506)
Net cash (used in) provided by investing activities		1,792		-		3,813		(319)		5,286
Cash flows from financing activities:
Issuance of long-term debt		2,342		-		432		-		2,774
Repayments of long-term debt		(2,016)		(114)		(1,571)		-		(3,701)
Purchase of common stock		(3,743)		-		-		-		(3,743)
Intercompany loans - net		(130)		-		(189)		319		-
Cash dividends paid		(335)		(500)		(4,345)		4,845		(335)
Other, net		(75)		-		(486)		-		(561)
Net cash (used in) provided by financing activities		(3,957)		(614)		(6,159)		5,164		(5,566)
Effect of exchange rate changes on cash		-		-		(34)		-		(34)

Change in cash		65		(87)		201		-		179
Cash at beginning of year		26		91		1,641		-		1,758
Cash at end of period	$	91	$	4	$	1,842	$	-	$	1,937

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 2016 period for:
Interest:
Third party	$	(515)	$	(27)	$	(108)	$	-	$	(650)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(7)	$	-	$	(110)	$	-	$	(117)
Intercompany		629		-		(629)		-		-
Cash (paid) received during the 2015 period for:
Interest:
Third party	$	(585)	$	(32)	$	(143)	$	-	$	(760)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(6)	$	-	$	(332)	$	-	$	(338)
Intercompany		1,249		-		(1,249)		-		-

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

Six Months Ended June 30,
(in millions)		2016		2015
Intercompany non-cash financing and investing activities:
Capital contributions	$	2,915	$	111
Dividends received in the form of securities		1,790		1,551
Return of capital		1		-
Fixed maturity securities received in exchange for equity securities		440		-
Non-cash financing/investing activities:
Consideration received from sale of shares of AerCap		-		500

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2016
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS Dividends Declared and Increase in Share Repurchase Authorization On August 2, 2016, our Board of Directors declared a cash dividend on AIG Common Stock of $0.32 per share, payable on September 29, 2016 to shareholders of record on September 15, 2016. On August 2, 2016, our Board of Directors authorized an additional increase to its previous repurchase authorization of AIG Common Stock of $3.0 billion, resulting in an aggregate remaining authorization on such date of approximately $4.0 billion.

BASIS OF PRESENTATION (Policies)	6 Months Ended
BASIS OF PRESENTATION (Policies)	Jun. 30, 2016
BASIS OF PRESENTATION
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involve a significant degree of judgment. Accounting policies that we believe are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of: 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)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Future Application of Accounting Standards	Future Application of Accounting Standards Revenue Recognition In May 2014, the FASB issued an accounting standard that supersedes most existing revenue recognition guidance. The standard excludes from its scope the accounting for insurance contracts, leases, financial instruments, and 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 do not expect the adoption of the standard to 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. Leases In February 2016, the FASB issued an accounting standard that will require lessees with lease terms of more than 12 months to recognize a right of use asset and a corresponding lease liability on their balance sheets. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating leases or finance leases. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted using a modified retrospective approach. We are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Derivative Contract Novations In March 2016, the FASB issued an accounting standard that clarifies that a change in the counterparty (novation) to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. We do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued an accounting standard that clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. The standard requires an evaluation of embedded call (put) options solely on a four-step decision sequence that requires an entity to consider whether (1) the amount paid upon settlement is adjusted based on changes in an index, (2) the amount paid upon settlement is indexed to an underlying other than interest rates or credit risk, (3) the debt involves a substantial premium or discount and (4) the put or call option is contingently exercisable. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. We 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 Transition to the Equity Method of Accounting In March 2016, the FASB issued an accounting standard that eliminates the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods during which the investment had been held. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. We do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued a standard that simplifies several aspects of the accounting for share-based compensation, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification on the statement of cash flows. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. We do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Calculation of Credit Losses In June 2016, the FASB issued an accounting standard that will change how entities account for credit losses for most financial assets. The standard will replace the existing incurred loss impairment model with a new “current expected credit loss model” and will apply to financial assets subject to credit losses, those measured at amortized cost and certain off-balance sheet credit exposures. The impairment for available-for-sale debt securities will be measured in a similar manner, except that losses will be recognized as allowances rather than reductions in the amortized cost of the securities. The standard will also require additional information to be disclosed in the footnotes. The standard is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted for annual and interim periods after December 15, 2018. We are assessing the impact of the standard on our consolidated financial condition, results of operations or cash flows.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Adopted	Accounting Standards Adopted During 2016 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. We adopted the standard prospectively on its required effective date of January 1, 2016. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity In August 2014, the FASB issued an accounting standard that allows a reporting entity to measure the financial assets and financial liabilities of a qualifying consolidated collateralized financing entity using the fair value of either its financial assets or financial liabilities, whichever is more observable. We adopted the standard retrospectively on its required effective date of January 1, 2016. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or 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. We adopted the standard prospectively on its required effective date of January 1, 2016. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or 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. We adopted this standard prospectively on its required effective date of January 1, 2016. The adoption of this standard did not 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. We adopted this standard on a retrospective basis on January 1, 2016, its required effective date. Because the new standard did not affect accounting recognition or measurement of debt issuance costs, the adoption of the standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or its Equivalent) In May 2015, the FASB amended guidance on fair value disclosures for investments for which fair value is measured using the net asset value (NAV) per share (or its equivalent) as a practical expedient. The amendments in this update remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the NAV per share practical expedient. In addition, the amendment removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share as a practical expedient. We adopted the standard on its required effective date of January 1, 2016 on a retrospective basis. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows.

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2016

SEGMENT INFORMATION

Schedule of continuing operations by reportable segment

	2016				2015
				Pre-Tax				Pre-Tax
Three Months Ended June 30,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues	Income (Loss)
Commercial Insurance
Property Casualty	$	5,540	$	791	$	6,233	$	1,192
Mortgage Guaranty		275		187		261		157
Institutional Markets		695		110		1,172		151
Total Commercial Insurance		6,510		1,088		7,666		1,500
Consumer Insurance
Retirement		2,209		741		2,465		804
Life		1,690		184		1,632		149
Personal Insurance		2,915		179		2,869		70
Total Consumer Insurance		6,814		1,104		6,966		1,023
Corporate and Other^*		450		(544)		1,119		372
AIG consolidation and elimination		(205)		(28)		(116)		(27)
Total AIG consolidated operating revenues and pre-tax operating income		13,569		1,620		15,635		2,868
Reconciling items from Total revenues and Pre-tax operating income
(loss) to revenues and pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed
living benefits		120		120		(87)		(87)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(64)		-		(28)
Other income - net		-		5		-		-
Loss on extinguishment of debt		-		(7)		-		(342)
Net realized capital gains		1,042		1,042		126		126
Income (loss) from divested businesses		-		225		(33)		(34)
Non-operating litigation reserves and settlements		7		7		76		49
Reserve development related to non-operating run-off insurance business		-		-		-		-
Restructuring and other costs		-		(90)		-		-
Other		(14)		-		(18)		-
Revenues and pre-tax income	$	14,724	$	2,858	$	15,699	$	2,552

	2016				2015
				Pre-Tax				Pre-Tax
Six Months Ended June 30,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues	Income (Loss)
Commercial Insurance
Property Casualty	$	10,818	$	1,511	$	12,189	$	2,362
Mortgage Guaranty		536		350		525		302
Institutional Markets		1,314		116		1,796		298
Total Commercial Insurance		12,668		1,977		14,510		2,962
Consumer Insurance
Retirement		4,323		1,202		4,853		1,604
Life		3,287		289		3,245		320
Personal Insurance		5,736		401		5,731		44
Total Consumer Insurance		13,346		1,892		13,829		1,968
Corporate and Other^*		656		(1,277)		2,161		534
AIG consolidation and elimination		(364)		(18)		(275)		(69)
Total AIG consolidated operating revenues and pre-tax operating income		26,306		2,574		30,225		5,395
Reconciling items from Total revenues and Pre-tax operating income
(loss) to revenues and pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed
living benefits		253		253		(43)		(43)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(24)		-		(82)
Other income - net		-		12		-		-
Loss on extinguishment of debt		-		(90)		-		(410)
Net realized capital gains (losses)		(64)		(64)		1,467		1,467
Income (loss) from divested businesses		-		223		(48)		(55)
Non-operating litigation reserves and settlements		41		38		91		56
Reserve development related to non-operating run-off insurance business		-		-		-		-
Restructuring and other costs		-		(278)		-		-
Other		(33)		-		(18)		-
Revenues and pre-tax income	$	26,503	$	2,644	$	31,674	$	6,328

* Corporate and Other includes income from assets held by AIG Parent and other corporate subsidiaries.

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2016

FAIR VALUE MEASUREMENTS

Assets and liabilities measured at fair value on a recurring basis

June 30, 2016							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^(b)	Collateral			Total
Assets:
Bonds available for sale:
U.S. government and government sponsored entities	$	19	$	2,248	$	-	$	-	$	-	$	2,267
Obligations of states, municipalities and political subdivisions		-		26,464		2,313		-		-		28,777
Non-U.S. governments		654		19,410		28		-		-		20,092
Corporate debt		-		141,325		836		-		-		142,161
RMBS		-		20,665		16,779		-		-		37,444
CMBS		-		12,679		2,295		-		-		14,974
CDO/ABS		-		9,299		7,075		-		-		16,374
Total bonds available for sale		673		232,090		29,326		-		-		262,089
Other bond securities:
U.S. government and government sponsored entities		136		3,459		-		-		-		3,595
Obligations of states, municipalities and political subdivisions		-		-		-		-		-		-
Non-U.S. governments		-		55		-		-		-		55
Corporate debt		-		1,949		18		-		-		1,967
RMBS		-		439		1,486		-		-		1,925
CMBS		-		498		168		-		-		666
CDO/ABS		-		815		6,312		-		-		7,127
Total other bond securities		136		7,215		7,984		-		-		15,335
Equity securities available for sale:
Common stock		1,117		-		-		-		-		1,117
Preferred stock		23		-		-		-		-		23
Mutual funds		501		1		-		-		-		502
Total equity securities available for sale		1,641		1		-		-		-		1,642
Other equity securities		647		-		14		-		-		661
Mortgage and other loans receivable		-		-		11		-		-		11
Other invested assets^(a)		-		2		241		-		-		243

Derivative assets:
Interest rate contracts		-		5,014		15		-		-		5,029
Foreign exchange contracts		-		1,495		1		-		-		1,496
Equity contracts		104		123		52		-		-		279
Credit contracts		-		-		3		-		-		3
Other contracts		-		-		23		-		-		23
Counterparty netting and cash collateral		-		-		-		(2,192)		(3,233)		(5,425)
Total derivative assets		104		6,632		94		(2,192)		(3,233)		1,405
Short-term investments		2,453		1,496		-		-		-		3,949
Separate account assets		74,755		5,817		-		-		-		80,572
Total	$	80,409	$	253,253	$	37,670	$	(2,192)	$	(3,233)	$	365,907
Liabilities:
Policyholder contract deposits	$	-	$	26	$	3,990	$	-	$	-	$	4,016
Other policyholder funds		5		-		-		-		-		5
Derivative liabilities:
Interest rate contracts		-		2,965		61		-		-		3,026
Foreign exchange contracts		-		1,441		10		-		-		1,451
Equity contracts		-		5		-		-		-		5
Credit contracts		-		-		376		-		-		376
Other contracts		-		-		125		-		-		125
Counterparty netting and cash collateral		-		-		-		(2,192)		(738)		(2,930)
Total derivative liabilities		-		4,411		572		(2,192)		(738)		2,053
Long-term debt		-		3,680		67		-		-		3,747
Other liabilities		114		127		-		-		-		241
Total	$	119	$	8,244	$	4,629	$	(2,192)	$	(738)	$	10,062

December 31, 2015							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^(b)	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^(a)		2		1		332		-		-		335
Derivative assets:
Interest rate contracts		-		3,150		12		-		-		3,162
Foreign exchange contracts		-		766		-		-		-		766
Equity contracts		91		32		54		-		-		177
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	$	237,684	$	38,110	$	(1,268)	$	(1,554)	$	352,683
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
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

(b) 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 Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Three Months Ended June 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,196	$	2	$	136	$	(21)	$	-	$	-	$	2,313	$	-
Non-U.S. governments		30		-		-		2		-		(4)		28		-
Corporate debt		1,024		2		7		(65)		193		(325)		836		-
RMBS		16,162		234		61		61		261		-		16,779		-
CMBS		2,368		16		10		(87)		-		(12)		2,295		-
CDO/ABS		6,592		8		93		382		-		-		7,075		-
Total bonds available for sale		28,372		262		307		272		454		(341)		29,326		-
Other bond securities:
Corporate debt		18		1		-		(1)		-		-		18		1
RMBS		1,513		14		-		(41)		-		-		1,486		(19)
CMBS		170		-		-		(2)		-		-		168		9
CDO/ABS		6,576		109		-		(308)		-		(65)		6,312		(60)
Total other bond securities		8,277		124		-		(352)		-		(65)		7,984		(69)
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-
Other equity securities		15		(1)		-		-		-		-		14		-
Mortgage and other loans receivable		11		-		-		-		-		-		11		-
Other invested assets		263		(12)		6		(16)		-		-		241		-
Total	$	36,938	$	373	$	313	$	(96)	$	454	$	(406)	$	37,576	$	(69)

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		(Gains) Losses		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,251	$	598	$	-	$	141	$	-	$	-	$	3,990	$	16
Derivative liabilities, net:
Interest rate contracts		48		3		-		(5)		-		-		46		-
Foreign exchange contracts		9		1		-		(1)		-		-		9		(1)
Equity contracts		(51)		(4)		-		3		-		-		(52)		3
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		490		(28)		-		(89)		-		-		373		18
Other contracts		121		(24)		-		5		-		-		102		23
Total derivative liabilities, net^(a)		617		(52)		-		(87)		-		-		478		43
Long-term debt^(b)		184		(2)		-		(2)		-		(113)		67		-
Total	$	4,052	$	544	$	-	$	52	$	-	$	(113)	$	4,535	$	59
				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period^(a)		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Six Months Ended June 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,124	$	2	$	194	$	(7)	$	-	$	-	$	2,313	$	-
Non-U.S. governments		32		-		(2)		2		-		(4)		28		-
Corporate debt		1,370		3		(17)		(36)		314		(798)		836		-
RMBS		16,537		479		(359)		(172)		294		-		16,779		-
CMBS		2,585		58		(78)		(168)		-		(102)		2,295		-
CDO/ABS		6,169		20		43		820		23		-		7,075		-
Total bonds available for sale		28,817		562		(219)		439		631		(904)		29,326		-
Other bond securities:
Corporate debt		17		2		-		(1)		-		-		18		3
RMBS		1,581		(23)		-		(54)		-		(18)		1,486		(61)
CMBS		193		(2)		-		(23)		-		-		168		7
CDO/ABS		7,055		(24)		-		(719)		65		(65)		6,312		(364)
Total other bond securities		8,846		(47)		-		(797)		65		(83)		7,984		(415)
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-
Other equity securities		14		-		-		-		-		-		14		1
Mortgage and other loans receivable		11		-		-		-		-		-		11		-
Other invested assets		332		(1)		1		(37)		-		(54)		241		-
Total	$	38,020	$	514	$	(218)	$	(395)	$	696	$	(1,041)	$	37,576	$	(414)

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		(Gains) Losses		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period^(a)		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	2,289	$	1,443	$	-	$	258	$	-	$	-	$	3,990	$	37
Derivative liabilities, net:
Interest rate contracts		50		7		-		(11)		-		-		46		(5)
Foreign exchange contracts		7		2		-		-		-		-		9		(1)
Equity contracts		(54)		-		-		2		-		-		(52)		-
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		505		(34)		-		(98)		-		-		373		28
Other contracts		48		30		-		24		-		-		102		(31)
Total derivative liabilities, net^(a)		556		5		-		(83)		-		-		478		(9)
Long-term debt^(b)		183		-		-		(3)		-		(113)		67		3
Total	$	3,028	$	1,448	$	-	$	172	$	-	$	(113)	$	4,535	$	31

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Three Months Ended June 30, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,256	$	-	$	(124)	$	93	$	-	$	(45)	$	2,180	$	-
Non-U.S. governments		34		-		(1)		-		-		-		33		-
Corporate debt		1,827		14		(50)		(85)		412		-		2,118		-
RMBS		17,345		281		(99)		(430)		-		-		17,097		-
CMBS		2,694		22		(40)		17		-		(16)		2,677		-
CDO/ABS		6,453		97		(196)		(283)		-		-		6,071		-
Total bonds available for sale		30,609		414		(510)		(688)		412		(61)		30,176		-
Other bond securities:
Corporate debt		16		-		-		-		-		-		16		-
RMBS		1,288		45		-		16		15		(27)		1,337		31
CMBS		269		8		-		(54)		-		-		223		1
CDO/ABS		7,850		265		-		(688)		-		(1)		7,426		93
Total other bond securities		9,423		318		-		(726)		15		(28)		9,002		125
Equity securities available for sale:
Common stock		1		2		-		(3)		-		-		-		-
Total equity securities available for sale		1		2		-		(3)		-		-		-		-
Other equity securities		22		-		-		-		-		-		22		-
Mortgage and other loans receivable		6		-		-		-		-		-		6		-
Other invested assets		422		62		4		(51)		-		-		437		-
Total	$	40,483	$	796	$	(506)	$	(1,468)	$	427	$	(89)	$	39,643	$	125

				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
		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	1,835	$	(736)	$	-	$	133	$	-	$	-	$	1,232	$	110
Derivative liabilities, net:
Interest rate contracts		69		(4)		-		(3)		-		-		62		3
Foreign exchange contracts		8		(2)		-		1		-		-		7		1
Equity contracts		(66)		2		-		1		-		-		(63)		(3)
Credit contracts		791		(13)		-		(227)		-		-		551		22
Other contracts		59		(59)		2		14		-		-		16		33
Total derivatives liabilities, net^(a)		861		(76)		2		(214)		-		-		573		56
Long-term debt^(b)		186		13		-		(6)		-		-		193		(6)
Total	$	2,882	$	(799)	$	2	$	(87)	$	-	$	-	$	1,998	$	160

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Six Months Ended June 30, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions^(c)	$	2,159	$	1	$	(79)	$	158	$	-	$	(59)	$	2,180	$	-
Non-U.S. governments		30		-		(1)		4		-		-		33		-
Corporate debt		1,883		14		(33)		(146)		456		(56)		2,118		-
RMBS		16,805		539		(171)		(76)		-		-		17,097		-
CMBS		2,696		46		(30)		47		-		(82)		2,677		-
CDO/ABS		6,110		130		(167)		119		-		(121)		6,071		-
Total bonds available for sale		29,683		730		(481)		106		456		(318)		30,176		-
Other bond securities:
Corporate debt		-		-		-		-		16		-		16		(1)
RMBS		1,105		26		-		220		44		(58)		1,337		1
CMBS		369		8		-		(154)		-		-		223		8
CDO/ABS		7,449		397		-		(926)		581		(75)		7,426		51
Total other bond securities		8,923		431		-		(860)		641		(133)		9,002		59
Equity securities available for sale:
Common stock		1		2		-		(3)		-		-		-		-
Total equity securities available for sale		1		2		-		(3)		-		-		-		-
Other equity securities		-		-		-		-		22		-		22		-
Mortgage and other loans receivable		6		-		-		-		-		-		6		-
Other invested assets		1,042		472		(488)		(589)		-		-		437		-
Total	$	39,655	$	1,635	$	(969)	$	(1,346)	$	1,119	$	(451)	$	39,643	$	59

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair value		(Gains) Losses		Other		Sales,		Gross		Gross		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	1,509	$	(461)	$	-	$	184	$	-	$	-	$	1,232	$	40
Derivative liabilities, net:
Interest rate contracts		74		-		-		(12)		-		-		62		(1)
Foreign exchange contracts		8		(3)		-		2		-		-		7		3
Equity contracts		(47)		(6)		-		(10)		-		-		(63)		2
Credit contracts		978		(160)		-		(267)		-		-		551		50
Other contracts		59		(73)		-		30		-		-		16		48
Total derivatives liabilities, net^(a)		1,072		(242)		-		(257)		-		-		573		102
Long-term debt^(b)		213		(2)		-		(18)		-		-		193		13
Total	$	2,794	$	(705)	$	-	$	(91)	$	-	$	-	$	1,998	$	155

(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.

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 Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Three Months Ended June 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,196	$	2	$	136	$	(21)	$	-	$	-	$	2,313	$	-
Non-U.S. governments		30		-		-		2		-		(4)		28		-
Corporate debt		1,024		2		7		(65)		193		(325)		836		-
RMBS		16,162		234		61		61		261		-		16,779		-
CMBS		2,368		16		10		(87)		-		(12)		2,295		-
CDO/ABS		6,592		8		93		382		-		-		7,075		-
Total bonds available for sale		28,372		262		307		272		454		(341)		29,326		-
Other bond securities:
Corporate debt		18		1		-		(1)		-		-		18		1
RMBS		1,513		14		-		(41)		-		-		1,486		(19)
CMBS		170		-		-		(2)		-		-		168		9
CDO/ABS		6,576		109		-		(308)		-		(65)		6,312		(60)
Total other bond securities		8,277		124		-		(352)		-		(65)		7,984		(69)
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-
Other equity securities		15		(1)		-		-		-		-		14		-
Mortgage and other loans receivable		11		-		-		-		-		-		11		-
Other invested assets		263		(12)		6		(16)		-		-		241		-
Total	$	36,938	$	373	$	313	$	(96)	$	454	$	(406)	$	37,576	$	(69)

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		(Gains) Losses		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,251	$	598	$	-	$	141	$	-	$	-	$	3,990	$	16
Derivative liabilities, net:
Interest rate contracts		48		3		-		(5)		-		-		46		-
Foreign exchange contracts		9		1		-		(1)		-		-		9		(1)
Equity contracts		(51)		(4)		-		3		-		-		(52)		3
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		490		(28)		-		(89)		-		-		373		18
Other contracts		121		(24)		-		5		-		-		102		23
Total derivative liabilities, net^(a)		617		(52)		-		(87)		-		-		478		43
Long-term debt^(b)		184		(2)		-		(2)		-		(113)		67		-
Total	$	4,052	$	544	$	-	$	52	$	-	$	(113)	$	4,535	$	59
				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period^(a)		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Six Months Ended June 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,124	$	2	$	194	$	(7)	$	-	$	-	$	2,313	$	-
Non-U.S. governments		32		-		(2)		2		-		(4)		28		-
Corporate debt		1,370		3		(17)		(36)		314		(798)		836		-
RMBS		16,537		479		(359)		(172)		294		-		16,779		-
CMBS		2,585		58		(78)		(168)		-		(102)		2,295		-
CDO/ABS		6,169		20		43		820		23		-		7,075		-
Total bonds available for sale		28,817		562		(219)		439		631		(904)		29,326		-
Other bond securities:
Corporate debt		17		2		-		(1)		-		-		18		3
RMBS		1,581		(23)		-		(54)		-		(18)		1,486		(61)
CMBS		193		(2)		-		(23)		-		-		168		7
CDO/ABS		7,055		(24)		-		(719)		65		(65)		6,312		(364)
Total other bond securities		8,846		(47)		-		(797)		65		(83)		7,984		(415)
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-
Other equity securities		14		-		-		-		-		-		14		1
Mortgage and other loans receivable		11		-		-		-		-		-		11		-
Other invested assets		332		(1)		1		(37)		-		(54)		241		-
Total	$	38,020	$	514	$	(218)	$	(395)	$	696	$	(1,041)	$	37,576	$	(414)

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair Value		(Gains) Losses		Other		Sales,		Gross		Gross		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period^(a)		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	2,289	$	1,443	$	-	$	258	$	-	$	-	$	3,990	$	37
Derivative liabilities, net:
Interest rate contracts		50		7		-		(11)		-		-		46		(5)
Foreign exchange contracts		7		2		-		-		-		-		9		(1)
Equity contracts		(54)		-		-		2		-		-		(52)		-
Commodity contracts		-		-		-		-		-		-		-		-
Credit contracts		505		(34)		-		(98)		-		-		373		28
Other contracts		48		30		-		24		-		-		102		(31)
Total derivative liabilities, net^(a)		556		5		-		(83)		-		-		478		(9)
Long-term debt^(b)		183		-		-		(3)		-		(113)		67		3
Total	$	3,028	$	1,448	$	-	$	172	$	-	$	(113)	$	4,535	$	31

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Three Months Ended June 30, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,256	$	-	$	(124)	$	93	$	-	$	(45)	$	2,180	$	-
Non-U.S. governments		34		-		(1)		-		-		-		33		-
Corporate debt		1,827		14		(50)		(85)		412		-		2,118		-
RMBS		17,345		281		(99)		(430)		-		-		17,097		-
CMBS		2,694		22		(40)		17		-		(16)		2,677		-
CDO/ABS		6,453		97		(196)		(283)		-		-		6,071		-
Total bonds available for sale		30,609		414		(510)		(688)		412		(61)		30,176		-
Other bond securities:
Corporate debt		16		-		-		-		-		-		16		-
RMBS		1,288		45		-		16		15		(27)		1,337		31
CMBS		269		8		-		(54)		-		-		223		1
CDO/ABS		7,850		265		-		(688)		-		(1)		7,426		93
Total other bond securities		9,423		318		-		(726)		15		(28)		9,002		125
Equity securities available for sale:
Common stock		1		2		-		(3)		-		-		-		-
Total equity securities available for sale		1		2		-		(3)		-		-		-		-
Other equity securities		22		-		-		-		-		-		22		-
Mortgage and other loans receivable		6		-		-		-		-		-		6		-
Other invested assets		422		62		4		(51)		-		-		437		-
Total	$	40,483	$	796	$	(506)	$	(1,468)	$	427	$	(89)	$	39,643	$	125

				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
		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	1,835	$	(736)	$	-	$	133	$	-	$	-	$	1,232	$	110
Derivative liabilities, net:
Interest rate contracts		69		(4)		-		(3)		-		-		62		3
Foreign exchange contracts		8		(2)		-		1		-		-		7		1
Equity contracts		(66)		2		-		1		-		-		(63)		(3)
Credit contracts		791		(13)		-		(227)		-		-		551		22
Other contracts		59		(59)		2		14		-		-		16		33
Total derivatives liabilities, net^(a)		861		(76)		2		(214)		-		-		573		56
Long-term debt^(b)		186		13		-		(6)		-		-		193		(6)
Total	$	2,882	$	(799)	$	2	$	(87)	$	-	$	-	$	1,998	$	160

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Six Months Ended June 30, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions^(c)	$	2,159	$	1	$	(79)	$	158	$	-	$	(59)	$	2,180	$	-
Non-U.S. governments		30		-		(1)		4		-		-		33		-
Corporate debt		1,883		14		(33)		(146)		456		(56)		2,118		-
RMBS		16,805		539		(171)		(76)		-		-		17,097		-
CMBS		2,696		46		(30)		47		-		(82)		2,677		-
CDO/ABS		6,110		130		(167)		119		-		(121)		6,071		-
Total bonds available for sale		29,683		730		(481)		106		456		(318)		30,176		-
Other bond securities:
Corporate debt		-		-		-		-		16		-		16		(1)
RMBS		1,105		26		-		220		44		(58)		1,337		1
CMBS		369		8		-		(154)		-		-		223		8
CDO/ABS		7,449		397		-		(926)		581		(75)		7,426		51
Total other bond securities		8,923		431		-		(860)		641		(133)		9,002		59
Equity securities available for sale:
Common stock		1		2		-		(3)		-		-		-		-
Total equity securities available for sale		1		2		-		(3)		-		-		-		-
Other equity securities		-		-		-		-		22		-		22		-
Mortgage and other loans receivable		6		-		-		-		-		-		6		-
Other invested assets		1,042		472		(488)		(589)		-		-		437		-
Total	$	39,655	$	1,635	$	(969)	$	(1,346)	$	1,119	$	(451)	$	39,643	$	59

				Net												Changes in
				Realized and												Unrealized Gains
				Unrealized				Purchases,								(Losses) Included
		Fair value		(Gains) Losses		Other		Sales,		Gross		Gross		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	1,509	$	(461)	$	-	$	184	$	-	$	-	$	1,232	$	40
Derivative liabilities, net:
Interest rate contracts		74		-		-		(12)		-		-		62		(1)
Foreign exchange contracts		8		(3)		-		2		-		-		7		3
Equity contracts		(47)		(6)		-		(10)		-		-		(63)		2
Credit contracts		978		(160)		-		(267)		-		-		551		50
Other contracts		59		(73)		-		30		-		-		16		48
Total derivatives liabilities, net^(a)		1,072		(242)		-		(257)		-		-		573		102
Long-term debt^(b)		213		(2)		-		(18)		-		-		193		13
Total	$	2,794	$	(705)	$	-	$	(91)	$	-	$	-	$	1,998	$	155

(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.

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

		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	Gains (Losses)			Income		Total
Three Months Ended June 30, 2016
Bonds available for sale	$	291	$	(30)	$	1	$	262
Other bond securities		26		32		66		124
Other equity securities		(1)		-		-		(1)
Other invested assets		(1)		(19)		8		(12)
Six Months Ended June 30, 2016
Bonds available for sale	$	589	$	(29)	$	2	$	562
Other bond securities		(8)		32		(71)		(47)
Other equity securities		-		-		-		-
Other invested assets		(3)		32		(30)		(1)
Three Months Ended June 30, 2015
Bonds available for sale	$	311	$	10	$	93	$	414
Other bond securities		23		(3)		298		318
Equity securities available for sale		-		2		-		2
Other invested assets		5		2		55		62
Six Months Ended June 30, 2015
Bonds available for sale	$	622	$	1	$	107	$	730
Other bond securities		41		3		387		431
Equity securities available for sale		-		2		-		2
Other invested assets		(2)		419		55		472

		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	Gains (Losses)			Income		Total
Three Months Ended June 30, 2016
Policyholder contract deposits	$	-	$	598	$	-	$	598
Derivative liabilities, net		-		-		(52)		(52)
Long-term debt		-		-		(2)		(2)
Six Months Ended June 30, 2016
Policyholder contract deposits	$	-	$	1,443	$	-	$	1,443
Derivative liabilities, net		-		4		1		5
Long-term debt		-		-		-		-
Three Months Ended June 30, 2015
Policyholder contract deposits	$	-	$	(736)	$	-	$	(736)
Derivative liabilities, net		19		1		(96)		(76)
Long-term debt		-		-		13		13
Six Months Ended June 30, 2015
Policyholder contract deposits	$	-	$	(461)	$	-	$	(461)
Derivative liabilities, net		-		(5)		(237)		(242)
Long-term debt		-		-		(2)		(2)

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

								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Three Months Ended June 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	17	$	(7)	$	(31)	$	(21)
Non-U.S. governments		2		-		-		2
Corporate debt		-		(25)		(40)		(65)
RMBS		1,040		-		(979)		61
CMBS		4		(27)		(64)		(87)
CDO/ABS		612		(11)		(219)		382
Total bonds available for sale		1,675		(70)		(1,333)		272
Other bond securities:
Corporate debt		-		-		(1)		(1)
RMBS		26		-		(67)		(41)
CMBS		-		-		(2)		(2)
CDO/ABS		61		(19)		(350)		(308)
Total other bond securities		87		(19)		(420)		(352)

Equity securities available for sale		-		-		-		-
Other equity securities		-		-		-		-
Other invested assets		9		(2)		(23)		(16)
Total assets	$	1,771	$	(91)	$	(1,776)	$	(96)
Liabilities:
Policyholder contract deposits	$	-	$	140	$	1	$	141
Derivative liabilities, net		(1)		-		(86)		(87)
Long-term debt^(b)		-		-		(2)		(2)
Total liabilities	$	(1)	$	140	$	(87)	$	52
Three Months Ended June 30, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	116	$	-	$	(23)	$	93
Non-U.S. governments		2		-		(2)		-
Corporate debt		182		(10)		(257)		(85)
RMBS		446		(143)		(733)		(430)
CMBS		70		-		(53)		17
CDO/ABS		282		(178)		(387)		(283)
Total bonds available for sale		1,098		(331)		(1,455)		(688)
Other bond securities:
RMBS		64		(4)		(44)		16
CMBS		-		(43)		(11)		(54)
CDO/ABS		12		(331)		(369)		(688)
Total other bond securities		76		(378)		(424)		(726)
Equity securities available for sale		-		(2)		(1)		(3)
Other invested assets		(42)		(2)		(7)		(51)
Total assets	$	1,132	$	(713)	$	(1,887)	$	(1,468)
Liabilities:
Policyholder contract deposits	$	-	$	112	$	21	$	133
Derivative liabilities, net		(2)		-		(212)		(214)
Long-term debt^(b)		-		-		(6)		(6)
Total liabilities	$	(2)	$	112	$	(197)	$	(87)
								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Six Months Ended June 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	46	$	(7)	$	(46)	$	(7)
Non-U.S. governments		3		-		(1)		2
Corporate debt		29		(25)		(40)		(36)
RMBS		1,543		(58)		(1,657)		(172)
CMBS		106		(58)		(216)		(168)
CDO/ABS		1,151		(11)		(320)		820
Total bonds available for sale		2,878		(159)		(2,280)		439

Other bond securities:
Corporate debt		-		-		(1)		(1)
RMBS		89		(26)		(117)		(54)
CMBS		53		(71)		(5)		(23)
CDO/ABS		69		(36)		(752)		(719)
Total other bond securities		211		(133)		(875)		(797)
Equity securities available for sale		-		-		-		-
Other equity securities		14		-		(14)		-
Other invested assets		18		(2)		(53)		(37)
Total assets	$	3,121	$	(294)	$	(3,222)	$	(395)
Liabilities:
Policyholder contract deposits	$	-	$	270	$	(12)	$	258
Derivative liabilities, net		(3)		-		(80)		(83)
Long-term debt^(b)		-		-		(3)		(3)
Total liabilities	$	(3)	$	270	$	(95)	$	172
Six Months Ended June 30, 2015
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions^(c)	$	223	$	(22)	$	(43)	$	158
Non-U.S. governments		8		-		(4)		4
Corporate debt		188		(60)		(274)		(146)
RMBS		1,407		(165)		(1,318)		(76)
CMBS		142		(27)		(68)		47
CDO/ABS		861		(201)		(541)		119
Total bonds available for sale		2,829		(475)		(2,248)		106
Other bond securities:
RMBS		309		(10)		(79)		220
CMBS		-		(79)		(75)		(154)
CDO/ABS		226		(371)		(781)		(926)
Total other bond securities		535		(460)		(935)		(860)
Equity securities available for sale		-		(2)		(1)		(3)
Other invested assets		27		(587)		(29)		(589)
Total assets	$	3,391	$	(1,524)	$	(3,213)	$	(1,346)
Liabilities:
Policyholder contract deposits	$	-	$	185	$	(1)	$	184
Derivative liabilities, net		(17)		-		(240)		(257)
Long-term debt^(b)		-		-		(18)		(18)
Total liabilities	$	(17)	$	185	$	(259)	$	(91)

(a) There were no issuances during the three- and six-month periods ended June 30, 2016 and 2015, respectively.

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

Significant unobservable inputs used for recurring fair value measurements

	Fair Value at
	June 30,		Valuation		Range
(in millions)	2016		Technique	Unobservable Input^(b)	(Weighted Average)
Assets:

Obligations of states,
municipalities and
political subdivisions	$	1,448	Discounted cash flow	Yield	3.44% - 4.29% (3.86%)

Corporate debt		386	Discounted cash flow	Yield	3.80% - 4.77% (4.29%)


RMBS^(a)		17,238	Discounted cash flow	Constant prepayment rate	1.26% - 8.84% (5.05%)
				Loss severity	46.90% - 80.26% (63.58%)
				Constant default rate	3.41% - 9.02% (6.22%)
				Yield	2.78% - 6.07% (4.43%)

CDO/ABS^(a)		3,017	Discounted cash flow	Yield	3.54% - 5.55% (4.54%)

CMBS		73	Discounted cash flow	Yield	1.32% - 2.73% (2.03%)

Liabilities:

Embedded derivatives
within Policyholder
contract deposits:

GMWB and GMAB		2,710	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	20.00% - 40.00%

Index Annuities		963	Discounted cash flow	Lapse rate	0.75% - 66.00%
				Mortality multiplier^(c)	50.00% - 75.00%

Indexed Life		345	Discounted cash flow	Equity volatility	12.62% to 21.70%
				Base lapse rate	2.00% to 19.00%
				Mortality rate	0.00% to 40.00%


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

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

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	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%

(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.

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

		June 30, 2016				December 31, 2015
			Fair Value			Fair Value
			Using NAV			Using NAV
			Per Share (or		Unfunded	Per Share (or			Unfunded
(in millions)	Investment Category Includes		its equivalent)		Commitments	its equivalent)			Commitments
Investment Category
Private equity funds:
Leveraged buyout	Debt and/or equity investments made as part of a transaction in which assets of mature companies are acquired from the current shareholders, typically with the use of financial leverage	$	1,560	$	547	$	1,774	$	436

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		266		227		306		213

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		99		34		107		41

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		134		42		146		41

Other	Includes multi-strategy, mezzanine and other strategies		282		248		298		239
Total private equity funds			2,341		1,098		2,631		970
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		700		-		1,194		-

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		2,240		28		2,978		25

Macro	Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions		573		-		555		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		640		7		699		8

Emerging markets	Investments in the financial markets of developing countries		300		-		353		-

Other	Includes multi-strategy, relative value and other strategies		140		-		167		-
Total hedge funds			4,593		35		5,946		33
Total		$	6,934	$	1,133	$	8,577	$	1,003

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

	Gain (Loss) Three Months Ended June 30,				Gain (Loss) Six Months Ended June 30,
	Gain (Loss) Three Months Ended June 30,				Gain (Loss) Six Months Ended June 30,
(in millions)		2016		2015		2016		2015
Assets:
Bond and equity securities	$	248	$	460	$	298	$	601
Alternative Investments^(a)		33		118		(214)		263
Other, including Short-term investments		-		-		-		2
Liabilities:
Long-term debt^(b)		(71)		131		(247)		55
Other liabilities		-		-		-		(3)
Total gain (loss)	$	210	$	709	$	(163)	$	918

(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

	June 30, 2016						December 31, 2015
			Outstanding						Outstanding
(in millions)	Fair Value		Principal Amount		Difference		Fair Value		Principal Amount		Difference
Assets:
Mortgage and other loans receivable	$	11	$	8	$	3	$	11	$	9	$	2
Liabilities:
Long-term debt^*	$	3,747	$	2,594	$	1,153	$	3,670	$	2,675	$	995

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

Fair value assets measured on nonrecurring basis and impairment charges

	Assets at Fair Value								Impairment Charges
	Non-Recurring Basis								Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	Level 1		Level 2		Level 3			Total		2016		2015		2016		2015
June 30, 2016
Other investments	$	-	$	-	$	176	$	176	$	29	$	27	$	31	$	52
Investments in life settlements		-		-		534		534		92		72		249		142
Other assets		-		-		1		1		9		4		9		8
Total	$	-	$	-	$	711	$	711	$	130	$	103	$	289	$	202
December 31, 2015
Other investments	$	-	$	-	$	1,117	$	1,117
Investments in life settlements		-		-		828		828
Other assets		-		-		129		129
Total	$	-	$	-	$	2,074	$	2,074

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
June 30, 2016
Assets:
Mortgage and other loans receivable	$	-	$	174	$	32,795	$	32,969	$	31,250
Other invested assets		-		620		2,897		3,517		4,191
Short-term investments		-		8,385		-		8,385		8,385
Cash		1,784		-		-		1,784		1,784
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		366		126,279		126,645		111,459
Other liabilities		-		3,697		-		3,697		3,697
Long-term debt		-		25,918		4,693		30,611		29,582
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		25,579

INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2016

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)
June 30, 2016
Bonds available for sale:
U.S. government and government sponsored entities	$	2,024	$	245	$	(2)	$	2,267	$	-
Obligations of states, municipalities and political subdivisions		26,244		2,560		(27)		28,777		-
Non-U.S. governments		18,559		1,643		(110)		20,092		-
Corporate debt		132,265		11,026		(1,130)		142,161		(37)
Mortgage-backed, asset-backed and collateralized:
RMBS		35,072		2,824		(452)		37,444		1,020
CMBS		14,103		928		(57)		14,974		78
CDO/ABS		16,183		398		(207)		16,374		37
Total mortgage-backed, asset-backed and collateralized		65,358		4,150		(716)		68,792		1,135
Total bonds available for sale^(b)		244,450		19,624		(1,985)		262,089		1,098
Equity securities available for sale:
Common stock		796		332		(11)		1,117		-
Preferred stock		19		4		-		23		-
Mutual funds		431		71		-		502		-
Total equity securities available for sale		1,246		407		(11)		1,642		-
Total	$	245,696	$	20,031	$	(1,996)	$	263,731	$	1,098
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

(b) At June 30, 2016 and December 31, 2015, bonds available for sale held by us that were below investment grade or not rated totaled $35.8 billion and $34.9 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
June 30, 2016
Bonds available for sale:
U.S. government and government sponsored entities	$	51	$	2	$	12	$	-	$	63	$	2
Obligations of states, municipalities and political
subdivisions		163		1		257		26		420		27
Non-U.S. governments		1,236		25		1,005		85		2,241		110
Corporate debt		8,058		302		9,098		828		17,156		1,130
RMBS		4,263		125		4,731		327		8,994		452
CMBS		620		29		639		28		1,259		57
CDO/ABS		4,936		104		2,888		103		7,824		207
Total bonds available for sale		19,327		588		18,630		1,397		37,957		1,985
Equity securities available for sale:
Common stock		142		10		2		1		144		11
Mutual funds		13		-		-		-		13		-
Total equity securities available for sale		155		10		2		1		157		11
Total	$	19,482	$	598	$	18,632	$	1,398	$	38,114	$	1,996
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

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

	Total Fixed Maturity Securities				Fixed Maturity Securities in a Loss
June 30, 2016	Available for Sale				Position Available for Sale
(in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	8,363	$	8,501	$	745	$	734
Due after one year through five years		51,468		54,680		4,813		4,616
Due after five years through ten years		50,399		53,104		7,253		6,779
Due after ten years		68,862		77,012		8,338		7,751
Mortgage-backed, asset-backed and collateralized		65,358		68,792		18,793		18,077
Total	$	244,450	$	262,089	$	39,942	$	37,957
December 31, 2015
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

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

	Three Months Ended June 30,								Six Months Ended June 30,
		2016				2015			2016					2015
		Gross		Gross		Gross		Gross		Gross		Gross		Gross		Gross
	Realized		Realized		Realized		Realized		Realized		Realized		Realized			Realized
(in millions)		Gains		Losses		Gains		Losses		Gains		Losses		Gains		Losses
Fixed maturity securities	$	217	$	93	$	194	$	59	$	404	$	642		$	343	$	177
Equity securities		980		6		24		3		1,012		14			520		8
Total	$	1,197	$	99	$	218	$	62	$	1,416	$	656		$	863	$	185

The fair value of AIG's other securities

		June 30, 2016				December 31, 2015
		Fair	Percent			Fair	Percent
(in millions)		Value	of Total			Value	of Total
Fixed maturity securities:
U.S. government and government sponsored entities	$	3,595	23	%	$	3,369	19	%
Obligations of states, municipalities and political subdivisions		-	-			75	-
Non-U.S. governments		55	-			50	-
Corporate debt		1,967	12			2,035	12
Mortgage-backed, asset-backed and collateralized:
RMBS		1,925	12			2,230	13
CMBS		666	4			750	4
CDO/ABS and other collateralized^*		7,127	45			8,273	47
Total mortgage-backed, asset-backed and collateralized		9,718	61			11,253	64
Total fixed maturity securities		15,335	96			16,782	95
Equity securities		661	4			921	5
Total	$	15,996	100	%	$	17,703	100	%

* Includes $557 million and $712 million of U.S. Government agency-backed ABS at June 30, 2016 and December 31, 2015, respectively.

Components of other invested assets

		June 30,		December 31,
(in millions)		2016		2015
Alternative investments^{(a) (b)}	$	14,972	$	18,150
Investment real estate^(c)		7,340		6,579
Aircraft asset investments^(d)		427		477
Investments in life settlements		3,565		3,606
All other investments		1,041		982
Total	$	27,345	$	29,794

(b) Approximately 59 percent of our hedge fund portfolio is available for redemption in 2016, an additional 24 percent and 10 percent will be available in 2017 and 2018, respectively.

(c) Net of accumulated depreciation of $579 million and $668 million in June 30, 2016 and December 31, 2015, respectively.

(d) Consists of investments in aircraft equipment held in consolidated trusts.

Components of net investment income

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
Fixed maturity securities, including short-term investments	$	2,992	$	2,800	$	5,928	$	5,683
Equity securities		(22)		66		(44)		81
Interest on mortgage and other loans		376		347		765		686
Alternative investments^*		310		658		(56)		1,244
Real estate		35		24		88		50
Other investments		101		48		238		189
Total investment income		3,792		3,943		6,919		7,933
Investment expenses		109		117		223		269
Net investment income	$	3,683	$	3,826	$	6,696	$	7,664

Components of net realized capital gains (losses)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
Sales of fixed maturity securities	$	124	$	135	$	(238)	$	166
Sales of equity securities		974		21		998		512
Other-than-temporary impairments:
Severity		(3)		-		(5)		(2)
Change in intent		(4)		(88)		(33)		(112)
Foreign currency declines		(1)		(3)		(7)		(32)
Issuer-specific credit events		(95)		(70)		(226)		(138)
Adverse projected cash flows		(5)		(3)		(41)		(8)
Provision for loan losses		(30)		(13)		-		11
Foreign exchange transactions		(38)		66		(558)		320
Derivatives and hedge accounting		170		288		97		496
Impairments on investments in life settlements		(92)		(72)		(249)		(142)
Other^*		42		(135)		198		396
Net realized capital gains (losses)	$	1,042	$	126	$	(64)	$	1,467

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	5,584	$	(6,559)	$	10,362	$	(4,403)
Equity securities		(1,045)		287		(1,140)		(95)
Other investments		(66)		(37)		(214)		(540)
Total Increase (decrease) in unrealized appreciation (depreciation) of investments	$	4,473	$	(6,309)	$	9,008	$	(5,038)

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
Balance, beginning of period	$	1,523	$	2,466	$	1,747	$	2,659
Increases due to:
Credit impairments on new securities subject to impairment losses		13		35		123		50
Additional credit impairments on previously impaired securities		74		25		129		47
Reductions due to:
Credit impaired securities fully disposed of for which there was no
prior intent or requirement to sell		(93)		(108)		(243)		(150)
Accretion on securities previously impaired due to credit^*		(219)		(180)		(458)		(368)
Balance, end of period	$	1,298	$	2,238	$	1,298	$	2,238

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

(in millions)	At Date of Acquisition
Contractually required payments (principal and interest)	$	34,940
Cash flows expected to be collected^*		28,437
Recorded investment in acquired securities		19,059

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

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

(in millions)	June 30, 2016		December 31, 2015
Outstanding principal balance	$	17,173	$	16,871
Amortized cost		12,397		12,303
Fair value		12,992		13,164

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
Balance, beginning of period	$	6,622	$	6,765	$	6,846	$	6,865
Newly purchased PCI securities		245		170		451		415
Disposals		-		(13)		-		(13)
Accretion		(209)		(221)		(423)		(441)
Effect of changes in interest rate indices		60		(6)		(239)		(144)
Net reclassification from (to) non-accretable difference,
including effects of prepayments		325		138		408		151
Balance, end of period	$	7,043	$	6,833	$	7,043	$	6,833

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

(in millions)		June 30, 2016		December 31, 2015
Fixed maturity securities available for sale	$	1,704	$	1,145
Other bond securities, at fair value	$	2,093	$	1,740

Transfer of Certain Financial Assets Accounted for as Secured Borrowings

	Remaining Contractual Maturity of the Agreements
(in millions)	Overnight and Continuous			up to 30 days		31 - 90 days		91 - 364 days		365 days or greater		Total
June 30, 2016
Other bond securities:
U.S. government and government sponsored entities	$	116	$	-	$	-	$	-	$	-	$	116
Non-U.S. governments		-		-		-		55		-		55
Corporate debt		-		73		734		980		120		1,907
Total	$	116	$	73	$	734	$	1,035	$	120	$	2,078

December 31, 2015
Bonds available for sale:
Non-U.S. governments	$	-	$	50	$	-	$	-	$	-	$	50
Other bond securities:
Non-U.S. governments		-		-		-		49		-		49
Corporate debt		-		33		332		1,326		-		1,691
Total	$	-	$	83	$	332	$	1,375	$	-	$	1,790

	Remaining Contractual Maturity of the Agreements
(in millions)		Overnight and Continuous		up to 30 days		31 - 90 days		91 - 364 days		365 days or greater		Total
June 30, 2016
Bonds available for sale:
Corporate debt	$	-	$	285	$	713	$	243	$	20	$	1,261
RMBS		-		241		201		-		-		442
Other bond securities:
RMBS		-		9		7		-		-		16
Total	$	-	$	535	$	921	$	243	$	20	$	1,719

December 31, 2015
Bonds available for sale:
Non-U.S. governments	$	-	$	-	$	57	$	-	$	-	$	57
Corporate debt		-		-		914		-		-		914
RMBS		-		-		-		124		-		124
Total	$	-	$	-	$	971	$	124	$	-	$	1,095

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

(in millions)		June 30, 2016		December 31, 2015
Securities collateral pledged to us	$	1,489	$	1,742
Amount sold or repledged by us	$	105	$	-

LENDING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2016

LENDING ACTIVITIES

Composition of Mortgages and other loans receivable

	June 30,			December 31,
(in millions)		2016		2015
Commercial mortgages^*	$	22,904	$	22,067
Residential mortgages		3,307		2,758
Commercial loans, other loans and notes receivable		2,820		2,451
Life insurance policy loans		2,538		2,597
Total mortgage and other loans receivable		31,569		29,873
Allowance for credit losses		(308)		(308)
Mortgage and other loans receivable, net	$	31,261	$	29,565

Schedule of debt service coverage ratio and loan-to-value ratio for the commercial mortgage loans

	Debt Service Coverage Ratios^(a)
(in millions)		>1.20X		1.00X - 1.20X		<1.00X		Total
June 30, 2016
Loan-to-Value Ratios^(b)
Less than 65%	$	12,105	$	1,873	$	139	$	14,117
65% to 75%		5,660		352		43		6,055
76% to 80%		1,445		164		84		1,693
Greater than 80%		576		267		196		1,039
Total commercial mortgages	$	19,786	$	2,656	$	462	$	22,904

December 31, 2015
Loan-to-Value Ratios^(b)
Less than 65%	$	10,283	$	1,704	$	150	$	12,137
65% to 75%		6,361		611		45		7,017
76% to 80%		1,370		169		81		1,620
Greater than 80%		646		226		421		1,293
Total commercial mortgages	$	18,660	$	2,710	$	697	$	22,067

(a) The debt service coverage ratio compares a property’s net operating income to its debt service payments, including principal and interest.

(b) The loan-to-value ratio compares the current unpaid principal balance of the loan to the estimated fair value of the underlying property collateralizing the loan.

Schedule of credit quality indicators for the commercial mortgage loans

	Number															Percent
	of	Class														of
(dollars in millions)	Loans	Apartments			Offices		Retail	Industrial			Hotel		Others		Total^(c)	Total $
June 30, 2016
Credit Quality Performance Indicator:
In good standing	802	$	4,342	$	7,647	$	4,995	$	1,713	$	2,454	$	1,450	$	22,601	99	%
Restructured^(a)	8		-		235		19		-		16		-		270	1
90 days or less delinquent	-		-		-		-		-		-		-		-	-
>90 days delinquent or in
process of foreclosure	7		3		12		-		-		6		12		33	-
Total^(b)	817	$	4,345	$	7,894	$	5,014	$	1,713	$	2,476	$	1,462	$	22,904	100	%
Allowance for credit losses:
Specific		$	-	$	4	$	1	$	6	$	1	$	-	$	12	-	%
General			48		55		44		6		21		12		186	1
Total allowance for credit losses		$	48	$	59	$	45	$	12	$	22	$	12	$	198	1	%

December 31, 2015
Credit Quality Performance 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	%

(b) Does not reflect allowance for credit losses.

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

	2016						2015
Six Months Ended June 30,		Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	171	$	137	$	308	$	159	$	112	$	271
Loans charged off		(13)		-		(13)		(4)		(1)		(5)
Recoveries of loans previously charged off		11		-		11		3		1		4
Net charge-offs		(2)		-		(2)		(1)		-		(1)
Provision for loan losses		29		(27)		2		(9)		(3)		(12)
Other		-		-		-		2		2		4
Allowance, end of period	$	198 ^*	$	110	$	308	$	151 ^*	$	111	$	262

* Of the total allowance, $12 million and $30 million relate to individually assessed credit losses on $352 million and $570 million of commercial mortgages at June 30, 2016 and 2015, respectively.

VARIABLE INTEREST ENTITIES (Tables)

6 Months Ended

Jun. 30, 2016

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
June 30, 2016
Assets:
Bonds available for sale	$	-	$	10,116	$	-	$	-	$	8	$	10,124
Other bond securities		-		5,254		334		-		6		5,594
Mortgage and other loans receivable		1		1,654		-		-		118		1,773
Other invested assets		2,043		427		-		2,848		25		5,343
Other ^(a)		570		912		78		296		168		2,024
Total assets^(b)	$	2,614	$	18,363	$	412	$	3,144	$	325	$	24,858
Liabilities:
Long-term debt	$	1,538	$	845	$	52	$	1,639	$	6	$	4,080
Other ^(c)		216		216		-		235		142		809
Total liabilities	$	1,754	$	1,061	$	52	$	1,874	$	148	$	4,889
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)	$	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	$	34	$	1,261	$	54	$	1,727	$	77	$	3,153

(a) Comprised primarily of Short-term investments and Other assets at June 30, 2016 and December 31, 2015.

(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 June 30, 2016 and December 31, 2015.

(d) At June 30, 2016 and December 31, 2015, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $119 million and $131 million, respectively.

Variable Interest Entity Not Primary Beneficiary

Variable Interest Entities [Line Items]

Schedule of Assets And Liabilities of Variable Interest Entities by Balance Sheets Location

			Maximum Exposure to Loss
		Total VIE		On-Balance		Off-Balance
(in millions)		Assets		Sheet^(a)		Sheet			Total
June 30, 2016
Real estate and investment entities^(d)	$	425,402	$	12,346	$	2,166		$	14,512
Affordable housing partnerships		4,908		825		-			825
Other		4,346		339		779	^(b)		1,118
Total^(c)	$	434,656	$	13,510	$	2,945		$	16,455
December 31, 2015
Real estate and investment entities^(d)	$	21,951	$	3,072	$	398		$	3,470
Affordable housing partnerships		5,255		774		-			774
Other		1,110		215		1,000	^(b)		1,215
Total	$	28,316	$	4,061	$	1,398		$	5,459

(a) At June 30, 2016 and December 31, 2015, $ 13.0 billion and $3.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.

(c) As discussed in Note 2, on January 1, 2016, we adopted accounting guidance that resulted in an increase in the number of our investment entities classified as VIEs.

(d) Comprised primarily of hedge funds and private equity funds.

- 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)

6 Months Ended

Jun. 30, 2016

DERIVATIVES AND HEDGE ACCOUNTING

Notional amounts and fair values of derivative instruments

	June 30, 2016								December 31, 2015
	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	$	519	$	4	$	520	$	3	$	301	$	1	$	725	$	2
Foreign exchange contracts		5,081		455		852		32		2,903		207		914		56
Equity contracts		120		1		-		-		-		-		121		23
Derivatives not designated
as hedging instruments:^(a)
Interest rate contracts		68,331		5,025		30,817		3,023		45,846		3,161		65,733		2,197
Foreign exchange contracts		11,131		1,041		7,784		1,419		9,472		559		8,900		1,148
Equity contracts		11,046		278		7,478		5		6,656		177		5,028		45
Credit contracts^(b)		4		3		967		376		4		3		1,289		508
Other contracts^(c)		38,793		23		192		125		37,586		23		203		69
Total derivatives, gross	$	135,025	$	6,830	$	48,610	$	4,983	$	102,768	$	4,131	$	82,913	$	4,048
Counterparty netting^(d)				(2,192)				(2,192)				(1,268)				(1,268)
Cash collateral^(e)				(3,233)				(738)				(1,554)				(760)
Total derivatives on condensed
consolidated balance sheets^(f)			$	1,405			$	2,053			$	1,309			$	2,020

(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)
Three Months Ended June 30, 2016
Interest rate contracts:
Realized capital gains/(losses)	$	-	$	-	$	-	$	-	$	-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		5		-		-		5
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Foreign exchange contracts:
Realized capital gains/(losses)		389		(345)		-		43		1
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		5		-		-		5
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Equity contracts:
Realized capital gains/(losses)		10		(7)		-		3		-
Three Months Ended June 30, 2015
Interest rate contracts:
Realized capital gains/(losses)	$	-	$	-	$	-	$	-	$	-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		2		-		-		2
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Foreign exchange contracts:
Realized capital gains/(losses)		(60)		73		-		13		-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		4		-		-		4
Gain/(Loss) on extinguishment of debt		-		1		-		-		1
Equity contracts:
Realized capital gains/(losses)		(13)		13		-		-		-

	Gains/(Losses) Recognized in Earnings for:				Including Gains/(Losses) Attributable to:
	Hedging		Hedged		Hedge		Excluded
(in millions)	Derivatives^(a)		Items		Ineffectiveness		Components		Other^(b)
Six Months Ended June 30, 2016
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(7)	$	-	$	-	$	(6)
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		7		-		-		7
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Foreign exchange contracts:
Realized capital gains/(losses)		423		(409)		-		14		-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		12		-		-		12
Gain/(Loss) on extinguishment of debt		-		-		-		-		-
Equity contracts:
Realized capital gains/(losses)		20		(19)		-		1		-
Six Months Ended June 30, 2015
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(1)	$	-	$	-	$	-
Interest credited to policyholder
account balances		-		-		-		-		-
Other income		-		5		-		-		5
Gain/(Loss) on extinguishment of debt		-		13		-		-		13
Foreign exchange contracts:
Realized capital gains/(losses)		72		(56)		-		13		3
Interest credited to policyholder
account balances		-		(1)		-		-		(1)
Other income		-		10		-		-		10
Gain/(Loss) on extinguishment of debt		-		17		-		-		17
Equity contracts:
Realized capital gains/(losses)		(19)		18		-		(1)		-

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

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

	Gains (Losses) Recognized in Earnings
	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)		2016		2015		2016		2015
By Derivative Type:
Interest rate contracts	$	603	$	(427)	$	1,373	$	(71)
Foreign exchange contracts		182		(52)		154		270
Equity contracts		(141)		(31)		(272)		(120)
Commodity contracts		-		-		-		(1)
Credit contracts		28		13		34		160
Other contracts		20		(35)		36		(13)
Embedded derivatives		(513)		846		(1,285)		673
Total	$	179	$	314	$	40	$	898
By Classification:
Policy fees	$	20	$	20	$	40	$	39
Net investment income		13		(13)		12		14
Net realized capital gains		123		305		88		476
Other income (losses)		18		8		(112)		370
Policyholder benefits and claims incurred		5		(6)		12		(1)
Total	$	179	$	314	$	40	$	898

- 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
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-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
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-Section 50
-Paragraph 1
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-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

EQUITY (Tables)

6 Months Ended

Jun. 30, 2016

EQUITY

Rollforward of common stock outstanding

	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Six Months Ended June 30, 2016
Shares, beginning of year	1,906,671,492	(712,754,875)	1,193,916,617
Shares issued	-	2,017,200	2,017,200
Shares repurchased	-	(113,244,455)	(113,244,455)
Shares, end of period	1,906,671,492	(823,982,130)	1,082,689,362

Accumulated Other Comprehensive Income (Loss)

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


(in millions)										Total
Balance, December 31, 2015, net of tax	$	696	$	5,566	$	(2,879)	$	(846)	$	2,537
Change in unrealized appreciation (depreciation) of investments		(491)		9,499		-		-		9,008
Change in deferred policy acquisition costs adjustment and other		(8)		(682)		-		-		(690)
Change in future policy benefits		-		(1,583)		-		-		(1,583)
Change in foreign currency translation adjustments		-		-		158		-		158
Change in net actuarial loss		-		-		-		11		11
Change in prior service cost		-		-		-		(13)		(13)
Change in deferred tax asset (liability)		172		(1,398)		63		(6)		(1,169)
Total other comprehensive income (loss)		(327)		5,836		221		(8)		5,722
Noncontrolling interests		-		-		-		-		-
Balance, June 30, 2016, net of tax	$	369	$	11,402	$	(2,658)	$	(854)	$	8,259

Balance, December 31, 2014, net of tax	$	1,043	$	12,327	$	(1,784)	$	(969)	$	10,617
Change in unrealized depreciation of investments		(195)		(4,843)		-		-		(5,038)
Change in deferred policy acquisition costs adjustment and other		(9)		495		-		-		486
Change in future policy benefits		92		804		-		-		896
Change in foreign currency translation adjustments		-		-		(684)		-		(684)
Change in net actuarial loss		-		-		-		91		91
Change in prior service credit		-		-		-		(23)		(23)
Change in deferred tax asset (liability)		4		1,092		188		(12)		1,272
Total other comprehensive income (loss)		(108)		(2,452)		(496)		56		(3,000)
Noncontrolling interests		-		-		(3)		-		(3)
Balance, June 30, 2015, net of tax	$	935	$	9,875	$	(2,277)	$	(913)	$	7,620

Other comprehensive income (loss) reclassification adjustments

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


(in millions)										Total
Three Months Ended June 30, 2016
Unrealized change arising during period	$	59	$	4,277	$	290	$	(11)	$	4,615
Less: Reclassification adjustments
included in net income		25		1,038		-		(4)		1,059
Total other comprehensive income (loss),
before income tax expense (benefit)		34		3,239		290		(7)		3,556
Less: Income tax expense (benefit)		12		830		(23)		3		822
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	22	$	2,409	$	313	$	(10)	$	2,734
Three Months Ended June 30, 2015
Unrealized change arising during period	$	35	$	(4,475)	$	(52)	$	14	$	(4,478)
Less: Reclassification adjustments
included in net income		46		99		-		(23)		122
Total other comprehensive income (loss),
before income tax expense (benefit)		(11)		(4,574)		(52)		37		(4,600)
Less: Income tax expense (benefit)		25		(1,583)		(15)		10		(1,563)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(36)	$	(2,991)	$	(37)	$	27	$	(3,037)
Six Months Ended June 30, 2016
Unrealized change arising during period	$	(399)	$	7,917	$	158	$	(10)	$	7,666
Less: Reclassification adjustments
included in net income		100		683		-		(8)		775
Total other comprehensive income (loss),
before income tax expense (benefit)		(499)		7,234		158		(2)		6,891
Less: Income tax expense (benefit)		(172)		1,398		(63)		6		1,169
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(327)	$	5,836	$	221	$	(8)	$	5,722
Six Months Ended June 30, 2015
Unrealized change arising during period	$	(57)	$	(2,968)	$	(684)	$	21	$	(3,688)
Less: Reclassification adjustments
included in net income		55		576		-		(47)		584
Total other comprehensive income (loss),
before income tax expense (benefit)		(112)		(3,544)		(684)		68		(4,272)
Less: Income tax expense (benefit)		(4)		(1,092)		(188)		12		(1,272)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(108)	$	(2,452)	$	(496)	$	56	$	(3,000)

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

	Amount Reclassified from Accumulated Other Comprehensive Income					Affected Line Item in the Condensed Consolidated Statements of Income

	Three Months Ended June 30,
(in millions)		2016		2015
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were taken

Investments		$	25	$	46		Other realized capital gains
Total			25		46
Unrealized appreciation (depreciation) of all other investments
Investments			1,074		112		Other realized capital gains
Deferred acquisition costs adjustment			(36)		(30)		Amortization of deferred policy acquisition costs
Future policy benefits			-		17		Policyholder benefits and losses incurred
Total			1,038		99
Change in retirement plan liabilities adjustment
Prior - service cost			5		11		*
Actuarial losses			(9)		(34)		*
Total			(4)		(23)
Total reclassifications for the period		$	1,059	$	122
	Amount Reclassified from Accumulated Other Comprehensive Income					Affected Line Item in the Condensed Consolidated Statements of Income

	Six Months Ended June 30,
(in millions)		2016		2015
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were taken

Investments		$	100	$	55		Other realized capital gains
Total			100		55
Unrealized appreciation (depreciation) of all other investments
Investments			661		624		Other realized capital gains
Deferred acquisition costs adjustment			22		(65)		Amortization of deferred policy acquisition costs
Future policy benefits			-		17		Policyholder benefits and losses incurred
Total			683		576
Change in retirement plan liabilities adjustment
Prior - service cost			9		23		*
Actuarial losses			(17)		(70)		*
Total			(8)		(47)		-
Total reclassifications for the period		$	775	$	584		-

* These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 12 to the Condensed Consolidated Financial Statements.

- Definition

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

+ 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
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-Section 50
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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
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-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
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-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
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-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)

6 Months Ended

Jun. 30, 2016

EARNINGS PER SHARE (EPS)

Computation of basic and diluted EPS

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(dollars in millions, except per share data)		2016		2015		2016		2015
Numerator for EPS:
Income from continuing operations	$	1,934	$	1,775	$	1,778	$	4,251
Less: Net income (loss) from continuing operations attributable to noncontrolling interests		11		(9)		(9)		-
Income attributable to AIG common shareholders from continuing operations		1,923		1,784		1,787		4,251
Income (loss) from discontinued operations, net of income tax expense		(10)		16		(57)		17
Net income attributable to AIG common shareholders		1,913		1,800		1,730		4,268
Denominator for EPS:
Weighted average shares outstanding - basic		1,113,587,927		1,329,157,366		1,135,068,193		1,347,452,833
Dilutive shares		26,458,046		36,233,065		28,021,555		28,873,138
Weighted average shares outstanding - diluted^*		1,140,045,973		1,365,390,431		1,163,089,748		1,376,325,971
Income per common share attributable to AIG:
Basic:
Income from continuing operations	$	1.73	$	1.34	$	1.57	$	3.16
Income (loss) from discontinued operations	$	(0.01)	$	0.01	$	(0.05)	$	0.01
Net income attributable to AIG	$	1.72	$	1.35	$	1.52	$	3.17
Diluted:
Income from continuing operations	$	1.69	$	1.31	$	1.54	$	3.09
Income (loss) from discontinued operations	$	(0.01)	$	0.01	$	(0.05)	$	0.01
Net income attributable to AIG	$	1.68	$	1.32	$	1.49	$	3.10

EMPLOYEE BENEFITS (Tables)

6 Months Ended

Jun. 30, 2016

Defined Benefit Plan Disclosure [Line Items]

Components of net periodic benefit cost

	Pension						Postretirement
		U.S.		Non-U.S.				U.S.		Non-U.S.
(in millions)		Plans		Plans		Total		Plans		Plans		Total
Three Months Ended June 30, 2016
Components of net periodic benefit cost:
Service cost	$	5	$	7	$	12	$	-	$	1	$	1
Interest cost		45		5		50		2		1		3
Expected return on assets		(74)		(6)		(80)		-		-		-
Amortization of prior service credit		-		-		-		(3)		-		(3)
Amortization of net loss		6		2		8		-		-		-
Curtailment gain		-		(1)		(1)		-		-		-
Net periodic benefit (income) cost	$	(18)	$	7	$	(11)	$	(1)	$	2	$	1
Three Months Ended June 30, 2015
Components of net periodic benefit cost:
Service cost	$	51	$	10	$	61	$	1	$	1	$	2
Interest cost		55		6		61		2		-		2
Expected return on assets		(72)		(6)		(78)		-		-		-
Amortization of prior service credit		(8)		-		(8)		(2)		-		(2)
Amortization of net loss		33		2		35		-		-		-
Curtailment gain		-		(1)		(1)		-		-		-
Net periodic benefit cost	$	59	$	11	$	70	$	1	$	1	$	2
Six Months Ended June 30, 2016
Components of net periodic benefit cost:
Service cost	$	9	$	15	$	24	$	1	$	2	$	3
Interest cost		91		10		101		3		2		5
Expected return on assets		(147)		(13)		(160)		-		-		-
Amortization of prior service credit		-		-		-		(5)		-		(5)
Amortization of net loss		12		4		16		-		-		-
Curtailment gain		-		(3)		(3)		-		-		-
Net periodic benefit (income) cost	$	(35)	$	13	$	(22)	$	(1)	$	4	$	3
Six Months Ended June 30, 2015
Components of net periodic benefit cost:
Service cost	$	103	$	21	$	124	$	3	$	2	$	5
Interest cost		110		12		122		4		1		5
Expected return on assets		(144)		(12)		(156)		-		-		-
Amortization of prior service credit		(16)		(1)		(17)		(5)		-		(5)
Amortization of net loss		65		5		70		-		-		-
Curtailment gain		-		(1)		(1)		-		-		-
Net periodic benefit cost	$	118	$	24	$	142	$	2	$	3	$	5

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)

6 Months Ended

Jun. 30, 2016

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
June 30, 2016
Assets:
Short-term investments	$	3,727	$	-	$	12,769	$	(4,162)	$	12,334
Other investments^(a)		5,790		-		332,543		-		338,333
Total investments		9,517		-		345,312		(4,162)		350,667
Cash		12		6		1,766		-		1,784
Loans to subsidiaries^(b)		35,007		-		395		(35,402)		-
Investment in consolidated subsidiaries^(b)		58,001		33,137		-		(91,138)		-
Other assets, including deferred income taxes		24,455		132		136,529		(3,218)		157,898
Total assets	$	126,992	$	33,275	$	484,002	$	(133,920)	$	510,349
Liabilities:
Insurance liabilities	$	-	$	-	$	278,518	$	-	$	278,518
Long-term debt		22,208		641		10,480		-		33,329
Other liabilities, including intercompany balances^(a)		14,444		65		101,009		(7,553)		107,965
Loans from subsidiaries^(b)		394		-		35,008		(35,402)		-
Total liabilities		37,046		706		425,015		(42,955)		419,812
Total AIG shareholders’ equity		89,946		32,569		58,396		(90,965)		89,946
Non-redeemable noncontrolling interests		-		-		591		-		591
Total equity		89,946		32,569		58,987		(90,965)		90,537
Total liabilities and equity	$	126,992	$	33,275	$	484,002	$	(133,920)	$	510,349

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		23,299		258		135,690		(2,388)		156,859
Total assets	$	121,878	$	30,613	$	468,181	$	(123,830)	$	496,842
Liabilities:
Insurance liabilities	$	-	$	-	$	271,645	$	-	$	271,645
Long-term debt		19,777		704		8,768		-		29,249
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		32,220		908		416,118		(42,614)		406,632
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	$	121,878	$	30,613	$	468,181	$	(123,830)	$	496,842

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

(b) Eliminated in consolidation.

Condensed Consolidating Statements of Income (Loss)


		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended June 30, 2016
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	2,168	$	888	$	-	$	(3,056)	$	-
Other income		127		-		14,843		(246)		14,724
Total revenues		2,295		888		14,843		(3,302)		14,724
Expenses:
Interest expense		250		13		59		(2)		320
Loss on extinguishment of debt		-		-		7		-		7
Other expenses		257		7		11,520		(245)		11,539
Total expenses		507		20		11,586		(247)		11,866
Income (loss) from continuing operations before income tax
expense (benefit)		1,788		868		3,257		(3,055)		2,858
Income tax expense (benefit)		(125)		(7)		1,056		-		924
Income (loss) from continuing operations		1,913		875		2,201		(3,055)		1,934
Loss from discontinued operations, net of income taxes		-		-		(10)		-		(10)
Net income (loss)		1,913		875		2,191		(3,055)		1,924
Less:
Net income from continuing operations attributable to
noncontrolling interests		-		-		11		-		11
Net income (loss) attributable to AIG	$	1,913	$	875	$	2,180	$	(3,055)	$	1,913
Three Months Ended June 30, 2015
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	2,319	$	749	$	-	$	(3,068)	$	-
Other income		14		-		15,916		(231)		15,699
Total revenues		2,333		749		15,916		(3,299)		15,699
Expenses:
Interest expense		267		14		65		(30)		316
Loss on extinguishment of debt		297		-		45		-		342
Other expenses		301		47		12,343		(202)		12,489
Total expenses		865		61		12,453		(232)		13,147
Income (loss) from continuing operations before income tax
expense (benefit)		1,468		688		3,463		(3,067)		2,552
Income tax expense (benefit)		(333)		(20)		1,129		1		777
Income (loss) from continuing operations		1,801		708		2,334		(3,068)		1,775
Income (loss) from discontinued operations, net of income taxes		(1)		-		17		-		16
Net income (loss)		1,800		708		2,351		(3,068)		1,791
Less:
Net loss from continuing operations attributable to
noncontrolling interests		-		-		(9)		-		(9)
Net income (loss) attributable to AIG	$	1,800	$	708	$	2,360	$	(3,068)	$	1,800


		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Six Months Ended June 30, 2016
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,224	$	(795)	$	-	$	(429)	$	-
Other income		64		5		26,881		(447)		26,503
Total revenues		1,288		(790)		26,881		(876)		26,503
Expenses:
Interest expense		494		27		108		(3)		626
Loss on extinguishment of debt		77		-		13		-		90
Other expenses		448		14		23,125		(444)		23,143
Total expenses		1,019		41		23,246		(447)		23,859
Income (loss) from continuing operations before income tax
expense (benefit)		269		(831)		3,635		(429)		2,644
Income tax expense (benefit)		(1,462)		(13)		2,341		-		866
Income (loss) from continuing operations		1,731		(818)		1,294		(429)		1,778
Loss from discontinued operations, net of income taxes		(1)		-		(56)		-		(57)
Net income (loss)		1,730		(818)		1,238		(429)		1,721
Less:
Net loss from continuing operations attributable to
noncontrolling interests		-		-		(9)		-		(9)
Net income (loss) attributable to AIG	$	1,730	$	(818)	$	1,247	$	(429)	$	1,730
Six Months Ended June 30, 2015
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	5,076	$	1,522	$	-	$	(6,598)	$	-
Other income		164		-		31,830		(320)		31,674
Total revenues		5,240		1,522		31,830		(6,918)		31,674
Expenses:
Interest expense		556		30		130		(60)		656
Loss on extinguishment of debt		358		-		45		7		410
Other expenses		547		42		23,952		(261)		24,280
Total expenses		1,461		72		24,127		(314)		25,346
Income (loss) from continuing operations before income tax
expense (benefit)		3,779		1,450		7,703		(6,604)		6,328
Income tax expense (benefit)		(490)		(63)		2,630		-		2,077
Income (loss) from continuing operations		4,269		1,513		5,073		(6,604)		4,251
Income (loss) from discontinued operations, net of income taxes		(1)		-		18		-		17
Net income (loss)		4,268		1,513		5,091		(6,604)		4,268
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests		-		-		-		-		-
Net income (loss) attributable to AIG	$	4,268	$	1,513	$	5,091	$	(6,604)	$	4,268

* Eliminated in consolidation.

Condensed Consolidating Statements of Comprehensive Income (Loss)

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended June 30, 2016
Net income (loss)	$	1,913	$	875	$	2,191	$	(3,055)	$	1,924
Other comprehensive income (loss)		2,734		7,734		(7,006)		(728)		2,734
Comprehensive income (loss)		4,647		8,609		(4,815)		(3,783)		4,658
Total comprehensive income attributable to noncontrolling interests		-		-		11		-		11
Comprehensive income (loss) attributable to AIG	$	4,647	$	8,609	$	(4,826)	$	(3,783)	$	4,647
Three Months Ended June 30, 2015
Net income (loss)	$	1,800	$	708	$	2,351	$	(3,068)	$	1,791
Other comprehensive income (loss)		(3,037)		3,582		53,694		(57,276)		(3,037)
Comprehensive income (loss)		(1,237)		4,290		56,045		(60,344)		(1,246)
Total comprehensive loss attributable to noncontrolling interests		-		-		(9)		-		(9)
Comprehensive income (loss) attributable to AIG	$	(1,237)	$	4,290	$	56,054	$	(60,344)	$	(1,237)
Six Months Ended June 30, 2016
Net income (loss)	$	1,730	$	(818)	$	1,238	$	(429)	$	1,721
Other comprehensive income (loss)		5,722		7,260		48,548		(55,808)		5,722
Comprehensive income (loss)		7,452		6,442		49,786		(56,237)		7,443
Total comprehensive loss attributable to noncontrolling interests		-		-		(9)		-		(9)
Comprehensive income (loss) attributable to AIG	$	7,452	$	6,442	$	49,795	$	(56,237)	$	7,452
Six Months Ended June 30, 2015
Net income (loss)	$	4,268	$	1,513	$	5,091	$	(6,604)	$	4,268
Other comprehensive income (loss)		(2,997)		4,490		52,633		(57,126)		(3,000)
Comprehensive income (loss)		1,271		6,003		57,724		(63,730)		1,268
Total comprehensive loss attributable to noncontrolling interests		-		-		(3)		-		(3)
Comprehensive income (loss) attributable to AIG	$	1,271	$	6,003	$	57,727	$	(63,730)	$	1,271

Condensed Consolidating Statements of Cash Flows

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries^*		Eliminations^*		AIG
Six Months Ended June 30, 2016
Net cash (used in) provided by operating activities	$	2,734	$	680	$	(1,022)	$	(1,821)	$	571
Cash flows from investing activities:
Sales of investments		1,944		-		39,689		(6,846)		34,787
Purchase of investments		(606)		-		(40,877)		6,846		(34,637)
Loans to subsidiaries - net		1,050		-		180		(1,230)		-
Contributions from (to) subsidiaries - net		880		-		-		(880)		-
Net change in restricted cash		-		-		(78)		-		(78)
Net change in short-term investments		(733)		-		(1,022)		-		(1,755)
Other, net		(298)		-		1,717		-		1,419
Net cash (used in) provided by investing activities		2,237		-		(391)		(2,110)		(264)
Cash flows from financing activities:
Issuance of long-term debt		3,832		-		2,856		-		6,688
Repayments of long-term debt		(1,421)		(63)		(1,435)		-		(2,919)
Purchase of common stock		(6,248)		-		-		-		(6,248)
Intercompany loans - net		(180)		(3)		(1,047)		1,230		-
Cash dividends paid		(713)		(724)		(1,097)		1,821		(713)
Other, net		(263)		-		2,385		880		3,002
Net cash (used in) provided by financing activities		(4,993)		(790)		1,662		3,931		(190)
Effect of exchange rate changes on cash		-		-		38		-		38
Change in cash		(22)		(110)		287		-		155
Cash at beginning of year		34		116		1,479		-		1,629
Cash at end of period	$	12	$	6	$	1,766	$	-	$	1,784

Six Months Ended June 30, 2015
Net cash (used in) provided by operating activities	$	2,230	$	527	$	2,581	$	(4,845)	$	493
Cash flows from investing activities:
Sales of investments		4,703		-		36,970		(2,667)		39,006
Purchase of investments		(942)		-		(32,708)		2,667		(30,983)
Loans to subsidiaries - net		189		-		130		(319)		-
Contributions from (to) subsidiaries - net		-		-		-		-		-
Net change in restricted cash		-		-		1,462		-		1,462
Net change in short-term investments		(2,093)		-		(600)		-		(2,693)
Other, net		(65)		-		(1,441)		-		(1,506)
Net cash (used in) provided by investing activities		1,792		-		3,813		(319)		5,286
Cash flows from financing activities:
Issuance of long-term debt		2,342		-		432		-		2,774
Repayments of long-term debt		(2,016)		(114)		(1,571)		-		(3,701)
Purchase of common stock		(3,743)		-		-		-		(3,743)
Intercompany loans - net		(130)		-		(189)		319		-
Cash dividends paid		(335)		(500)		(4,345)		4,845		(335)
Other, net		(75)		-		(486)		-		(561)
Net cash (used in) provided by financing activities		(3,957)		(614)		(6,159)		5,164		(5,566)
Effect of exchange rate changes on cash		-		-		(34)		-		(34)

Change in cash		65		(87)		201		-		179
Cash at beginning of year		26		91		1,641		-		1,758
Cash at end of period	$	91	$	4	$	1,842	$	-	$	1,937

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 2016 period for:
Interest:
Third party	$	(515)	$	(27)	$	(108)	$	-	$	(650)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(7)	$	-	$	(110)	$	-	$	(117)
Intercompany		629		-		(629)		-		-
Cash (paid) received during the 2015 period for:
Interest:
Third party	$	(585)	$	(32)	$	(143)	$	-	$	(760)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(6)	$	-	$	(332)	$	-	$	(338)
Intercompany		1,249		-		(1,249)		-		-

Supplementary disclosure of non-cash activities

Six Months Ended June 30,
(in millions)		2016		2015
Intercompany non-cash financing and investing activities:
Capital contributions	$	2,915	$	111
Dividends received in the form of securities		1,790		1,551
Return of capital		1		-
Fixed maturity securities received in exchange for equity securities		440		-
Non-cash financing/investing activities:
Consideration received from sale of shares of AerCap		-		500

BASIS OF PRESENTATION (Details) $ / shares in Units, shares in Millions, $ in Millions		1 Months Ended
	May 14, 2014 USD ($) shares	Aug. 31, 2015 USD ($) shares	Jun. 30, 2015 USD ($) shares	Jun. 30, 2016 item $ / shares	Dec. 31, 2015 $ / shares	May 13, 2014 $ / shares
Basis of Presentation [Line Items]
Common stock, par value (in dollars per share) \| $ / shares				$ 2.5	$ 2.5
Investment Maturity Year			2045
Interest rate (as a percent)			6.50%
Call Option [Member]
Basis of Presentation [Line Items]
Investment Maturity Year			2025
ILFC
Basis of Presentation [Line Items]
Percentage of common stock agreed to be sold	100.00%
Consideration in cash \| $	$ 7,600
Number of shares received \| shares	97.6
Minimum
Basis of Presentation [Line Items]
Number of Countries in which the entity operates \| item				100
Aer Cap
Basis of Presentation [Line Items]
Closing price per share (in dollars per share) \| $ / shares						$ 47.01
Equity Method Investment Number Of Shares Sold \| shares			86.9
Cash Proceeds from Sales of AerCap \| $		$ 500	$ 3,700
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
Non-cash consideration received from sale \| $			$ 500
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

SEGMENT INFORMATION (Details - Continuing operations by reportable segment) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($) segment	Jun. 30, 2015 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			2
Total Revenues	$ 14,724	$ 15,699	$ 26,503	$ 31,674
Revenues and pre-tax income	2,858	2,552	2,644	6,328
Operating segments \| Commercial Insurance \| Property Casualty
Segment Reporting Information [Line Items]
Total Revenues	5,540	6,233	10,818	12,189
Revenues and pre-tax income	791	1,192	1,511	2,362
Operating segments \| Commercial Insurance \| Mortgage Guaranty
Segment Reporting Information [Line Items]
Total Revenues	275	261	536	525
Revenues and pre-tax income	187	157	350	302
Operating segments \| Commercial Insurance \| Institutional Markets
Segment Reporting Information [Line Items]
Total Revenues	695	1,172	1,314	1,796
Revenues and pre-tax income	110	151	116	298
Operating segments \| Consumer Insurance \| Retirement
Segment Reporting Information [Line Items]
Total Revenues	2,209	2,465	4,323	4,853
Revenues and pre-tax income	741	804	1,202	1,604
Operating segments \| Consumer Insurance \| Life
Segment Reporting Information [Line Items]
Total Revenues	1,690	1,632	3,287	3,245
Revenues and pre-tax income	184	149	289	320
Operating segments \| Consumer Insurance \| Personal Insurance
Segment Reporting Information [Line Items]
Total Revenues	2,915	2,869	5,736	5,731
Revenues and pre-tax income	179	70	401	44
Reportable Segments \| Commercial Insurance
Segment Reporting Information [Line Items]
Total Revenues	6,510	7,666	12,668	14,510
Revenues and pre-tax income	1,088	1,500	1,977	2,962
Reportable Segments \| Consumer Insurance
Segment Reporting Information [Line Items]
Total Revenues	6,814	6,966	13,346	13,829
Revenues and pre-tax income	1,104	1,023	1,892	1,968
Corporate and Other
Segment Reporting Information [Line Items]
Total Revenues	450	1,119	656	2,161
Revenues and pre-tax income	(544)	372	(1,277)	534
Consolidation and Eliminations
Segment Reporting Information [Line Items]
Total Revenues	(205)	(116)	(364)	(275)
Revenues and pre-tax income	(28)	(27)	(18)	(69)
Total Operating Segments, Corporate and Other, And Consolidation and Elimination
Segment Reporting Information [Line Items]
Total Revenues	13,569	15,635	26,306	30,225
Revenues and pre-tax income	$ 1,620	$ 2,868	$ 2,574	$ 5,395

SEGMENT INFORMATION (Details - Continuing operations by reportable segment - Pretax operating income to pre-tax income)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Loss on extinguishment of debt	$ (7)	$ (342)	$ (90)	$ (410)
Revenues and pre-tax income	2,858	2,552	2,644	6,328
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 securities used to hedge guaranteed living benefits	120	(87)	253	(43)
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	0	0	0	0
Loss on extinguishment of debt	0	0	0	0
Net realized capital gains (losses)	1,042	126	(64)	1,467
Net gain (loss) on sale of divested businesses	0	(33)	0	(48)
Non-operating litigation reserves and settlements	7	76	41	91
Reserve development related to non-operating run-off insurance business	0		0
Restructuring and other costs	0		0
Other	(14)	(18)	(33)	(18)
Revenues and pre-tax income	14,724	15,699	26,503	31,674
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 securities used to hedge guaranteed living benefits	120	(87)	253	(43)
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	(64)	(28)	(24)	(82)
Other income (expense) - net	5		12
Loss on extinguishment of debt	(7)	(342)	(90)	(410)
Net realized capital gains (losses)	1,042	126	(64)	1,467
Net gain (loss) on sale of divested businesses	225	(34)	223	(55)
Non-operating litigation reserves and settlements	7	49	38	56
Reserve development related to non-operating run-off insurance business	0		0
Restructuring and other costs	(90)		(278)
Other	0		0
Revenues and pre-tax income	$ 2,858	$ 2,552	$ 2,644	$ 6,328

FAIR VALUE MEASUREMENTS (Details - Assets and Liabilities Measured at Fair Value on a Recurring Basis) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	$ 262,089		$ 262,089		$ 248,245
Other bond securities	15,335		15,335		16,782
Equity securities available for sale	1,642		1,642		2,915
Other equity securities	661		661		921
Other invested assets	7,177		7,177		8,912
Derivative Assets, Fair Value	6,830		6,830		4,131
Derivative assets, Counterparty netting	(2,192)		(2,192)		(1,268)
Derivative assets, Cash collateral	(3,233)		(3,233)		(1,554)
Short-term investments, portion measured at fair value	3,949		3,949		2,591
Separate account assets, at fair value	80,572		80,572		79,574
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	4,016		4,016		2,325
Other policyholder funds	4,292		4,292		4,212
Derivative Liabilities, Fair Value	4,983		4,983		4,048
Derivative liabilities, Counterparty netting	(2,192)		(2,192)		(1,268)
Derivative liabilities, Cash collateral	(738)		(738)		(760)
Long-term debt, portion measured at fair value	3,747		3,747		3,670
Other liabilities	241		241		62
U.S. government and government sponsored entities
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	16	$ 65	16	$ 180
Non-U.S. government
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	229	190	312	262
Recurring Basis
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 2 to Level 1	0	$ 0	0	$ 0
Recurring Basis \| Level 1
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	673		673		683
Other bond securities	136		136		0
Equity securities available for sale	1,641		1,641		2,914
Other equity securities	647		647		906
Mortgage and other loans receivable	0		0
Other invested assets	0		0		2
Derivative Assets, Fair Value	104		104		91
Short-term investments, portion measured at fair value	2,453		2,453		1,416
Separate account assets, at fair value	74,755		74,755		73,699
Other assets	0		0
Fair value assets measured on recurring basis, total	80,409		80,409		79,711
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0		0
Other policyholder funds	5		5		6
Derivative Liabilities, Fair Value	0		0		0
Long-term debt, portion measured at fair value	0		0		0
Other liabilities	114		114		0
Fair value liabilities measured on recurring basis, total	119		119		6
Recurring Basis \| Level 1 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 1 \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 1 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	104		104		91
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 1 \| Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 1 \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 1 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 1 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	19		19		0
Other bond securities	136		136		0
Recurring Basis \| Level 1 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis \| Level 1 \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	654		654		683
Other bond securities	0		0		0
Recurring Basis \| Level 1 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis \| Level 1 \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis \| Level 1 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis \| Level 1 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis \| Level 1 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	1,117		1,117		2,401
Recurring Basis \| Level 1 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	23		23		22
Recurring Basis \| Level 1 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	501		501		491
Recurring Basis \| Level 2
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	232,090		232,090		218,745
Other bond securities	7,215		7,215		7,936
Equity securities available for sale	1		1		1
Other equity securities	0		0		1
Mortgage and other loans receivable	0		0
Other invested assets	2		2		1
Derivative Assets, Fair Value	6,632		6,632		3,950
Short-term investments, portion measured at fair value	1,496		1,496		1,175
Separate account assets, at fair value	5,817		5,817		5,875
Other assets	0		0		0
Fair value assets measured on recurring basis, total	253,253		253,253		237,684
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	26		26		36
Other policyholder funds	0		0		0
Derivative Liabilities, Fair Value	4,411		4,411		3,402
Long-term debt, portion measured at fair value	3,680		3,680		3,487
Other liabilities	127		127		62
Fair value liabilities measured on recurring basis, total	8,244		8,244		6,987
Recurring Basis \| Level 2 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	5,014		5,014		3,150
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	2,965		2,965		2,137
Recurring Basis \| Level 2 \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	1,495		1,495		766
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,441		1,441		1,197
Recurring Basis \| Level 2 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	123		123		32
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	5		5		68
Recurring Basis \| Level 2 \| Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 2 \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 2 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		2
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 2 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,248		2,248		1,844
Other bond securities	3,459		3,459		3,369
Recurring Basis \| Level 2 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	26,464		26,464		25,199
Other bond securities	0		0		75
Recurring Basis \| Level 2 \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	19,410		19,410		17,480
Other bond securities	55		55		50
Recurring Basis \| Level 2 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	141,325		141,325		134,618
Other bond securities	1,949		1,949		2,018
Recurring Basis \| Level 2 \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	20,665		20,665		19,690
Other bond securities	439		439		649
Recurring Basis \| Level 2 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	12,679		12,679		10,986
Other bond securities	498		498		557
Recurring Basis \| Level 2 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	9,299		9,299		8,928
Other bond securities	815		815		1,218
Recurring Basis \| Level 2 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		0
Recurring Basis \| Level 2 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		0
Recurring Basis \| Level 2 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	1		1		1
Recurring Basis \| Level 3
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	29,326		29,326		28,817
Other bond securities	7,984		7,984		8,846
Equity securities available for sale	0		0		0
Other equity securities	14		14		14
Mortgage and other loans receivable	11		11		11
Other invested assets	241		241		332
Derivative Assets, Fair Value	94		94		90
Short-term investments, portion measured at fair value	0		0		0
Separate account assets, at fair value	0		0
Other assets	0		0
Fair value assets measured on recurring basis, total	37,670		37,670		38,110
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	3,990		3,990		2,289
Other policyholder funds	0		0		0
Derivative Liabilities, Fair Value	572		572		646
Long-term debt, portion measured at fair value	67		67		183
Other liabilities	0		0		0
Fair value liabilities measured on recurring basis, total	4,629		4,629		3,118
Recurring Basis \| Level 3 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	15		15		12
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	61		61		62
Recurring Basis \| Level 3 \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	1		1		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	10		10		7
Recurring Basis \| Level 3 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	52		52		54
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 3 \| Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Level 3 \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	3		3		3
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	376		376		508
Recurring Basis \| Level 3 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	23		23		21
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	125		125		69
Recurring Basis \| Level 3 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	0		0		0
Other bond securities	0		0		0
Recurring Basis \| Level 3 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,313		2,313		2,124
Other bond securities	0		0		0
Recurring Basis \| Level 3 \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	28		28		32
Other bond securities	0		0		0
Recurring Basis \| Level 3 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	836		836		1,370
Other bond securities	18		18		17
Recurring Basis \| Level 3 \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	16,779		16,779		16,537
Other bond securities	1,486		1,486		1,581
Recurring Basis \| Level 3 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,295		2,295		2,585
Other bond securities	168		168		193
Recurring Basis \| Level 3 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	7,075		7,075		6,169
Other bond securities	6,312		6,312		7,055
Recurring Basis \| Level 3 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		0
Recurring Basis \| Level 3 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		0
Recurring Basis \| Level 3 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		0
Recurring Basis \| Counterparty Netting
Fair Value, Assets Measured on Recurring Basis
Other bond securities	0		0
Equity securities available for sale	0		0
Other equity securities	0		0
Other invested assets	0		0
Derivative assets, Counterparty netting	(2,192)		(2,192)		(1,268)
Separate account assets, at fair value	0		0
Other assets	0		0
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0
Derivative liabilities, Counterparty netting	(2,192)		(2,192)		(1,268)
Long-term debt, portion measured at fair value	0		0
Other liabilities	0		0
Recurring Basis \| Counterparty Netting \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Counterparty netting	(2,192)		(2,192)		(1,268)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Counterparty netting	(2,192)		(2,192)		(1,268)
Recurring Basis \| Cash Collateral
Fair Value, Assets Measured on Recurring Basis
Other bond securities	0		0
Equity securities available for sale	0		0
Other equity securities	0		0
Other invested assets	0		0
Derivative assets, Cash collateral	(3,233)		(3,233)		(1,554)
Separate account assets, at fair value	0		0
Other assets	0		0
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0
Derivative liabilities, Cash collateral	(738)		(738)		(760)
Long-term debt, portion measured at fair value	0		0
Other liabilities	0		0
Recurring Basis \| Cash Collateral \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Cash collateral	(3,233)		(3,233)		(1,554)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Cash collateral	(738)		(738)		(760)
Recurring Basis \| Total Fair Value
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	262,089		262,089		248,245
Other bond securities	15,335		15,335		16,782
Equity securities available for sale	1,642		1,642		2,915
Other equity securities	661		661		921
Mortgage and other loans receivable	11		11		11
Other invested assets	243		243		335
Derivative Assets, Fair Value	1,405		1,405		1,309
Short-term investments, portion measured at fair value	3,949		3,949		2,591
Separate account assets, at fair value	80,572		80,572		79,574
Other assets					0
Fair value assets measured on recurring basis, total	365,907		365,907		352,683
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	4,016		4,016		2,325
Other policyholder funds	5		5		6
Derivative Liabilities, Fair Value	2,053		2,053		2,020
Long-term debt, portion measured at fair value	3,747		3,747		3,670
Other liabilities	241		241		62
Fair value liabilities measured on recurring basis, total	10,062		10,062		8,083
Recurring Basis \| Total Fair Value \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	5,029		5,029		3,162
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	3,026		3,026		2,199
Recurring Basis \| Total Fair Value \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	1,496		1,496		766
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,451		1,451		1,204
Recurring Basis \| Total Fair Value \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	279		279		177
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	5		5		68
Recurring Basis \| Total Fair Value \| Commodity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	0		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		0
Recurring Basis \| Total Fair Value \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	3		3		3
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	376		376		508
Recurring Basis \| Total Fair Value \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	23		23		23
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	125		125		69
Recurring Basis \| Total Fair Value \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	(5,425)		(5,425)		(2,822)
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	(2,930)		(2,930)		(2,028)
Recurring Basis \| Total Fair Value \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,267		2,267		1,844
Other bond securities	3,595		3,595		3,369
Recurring Basis \| Total Fair Value \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	28,777		28,777		27,323
Other bond securities	0		0		75
Recurring Basis \| Total Fair Value \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	20,092		20,092		18,195
Other bond securities	55		55		50
Recurring Basis \| Total Fair Value \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	142,161		142,161		135,988
Other bond securities	1,967		1,967		2,035
Recurring Basis \| Total Fair Value \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	37,444		37,444		36,227
Other bond securities	1,925		1,925		2,230
Recurring Basis \| Total Fair Value \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	14,974		14,974		13,571
Other bond securities	666		666		750
Recurring Basis \| Total Fair Value \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	16,374		16,374		15,097
Other bond securities	7,127		7,127		8,273
Recurring Basis \| Total Fair Value \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	1,117		1,117		2,401
Recurring Basis \| Total Fair Value \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	23		23		22
Recurring Basis \| Total Fair Value \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	$ 502		$ 502		$ 492

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issues and settlements) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, Sales, Issues and Settlements, Net, assets	$ (96)	$ (1,468)	$ (395)	$ (1,346)
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	3		(10)	18
Transfers out of Level 3 at end of reporting period, net gains (losses) included in realized and unrealized gains and losses related to Level 3 for the period.	(8)		(53)	3
Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	(1)	(2)	(3)	(17)
Sales, liabilities	140	112	270	185
Settlements, liabilities	(87)	(197)	(95)	(259)
Purchases, Sales, Issues and Settlements, Net, liabilities	52	(87)	172	(91)
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	0	0	0	0
Sales, liabilities	140	112	270	185
Settlements, liabilities	1	21	(12)	(1)
Purchases, Sales, Issues and Settlements, Net, liabilities	141	133	258	184
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	(1)	(2)	(3)	(17)
Sales, liabilities	0	0	0	0
Settlements, liabilities	(86)	(212)	(80)	(240)
Purchases, Sales, Issues and Settlements, Net, liabilities	(87)	(214)	(83)	(257)
Long-term debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Settlements, liabilities	(2)	(6)	(3)	(18)
Purchases, Sales, Issues and Settlements, Net, liabilities	(2)	(6)	(3)	(18)
Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	1,771	1,132	3,121	3,391
Sales, assets	(91)	(713)	(294)	(1,524)
Settlements, assets	(1,776)	(1,887)	(3,222)	(3,213)
Purchases, Sales, Issues and Settlements, Net, assets	(96)	(1,468)	(395)	(1,346)
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	1,675	1,098	2,878	2,829
Sales, assets	(70)	(331)	(159)	(475)
Settlements, assets	(1,333)	(1,455)	(2,280)	(2,248)
Purchases, Sales, Issues and Settlements, Net, assets	272	(688)	439	106
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	17	116	46	223
Sales, assets	(7)	0	(7)	(22)
Settlements, assets	(31)	(23)	(46)	(43)
Purchases, Sales, Issues and Settlements, Net, assets	(21)	93	(7)	158
Bonds available for sale \| Non-U.S. government
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	2	2	3	8
Sales, assets	0	0	0	0
Settlements, assets	0	(2)	(1)	(4)
Purchases, Sales, Issues and Settlements, Net, assets	2	0	2	4
Bonds available for sale \| Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	182	29	188
Sales, assets	(25)	(10)	(25)	(60)
Settlements, assets	(40)	(257)	(40)	(274)
Purchases, Sales, Issues and Settlements, Net, assets	(65)	(85)	(36)	(146)
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	1,040	446	1,543	1,407
Sales, assets	0	(143)	(58)	(165)
Settlements, assets	(979)	(733)	(1,657)	(1,318)
Purchases, Sales, Issues and Settlements, Net, assets	61	(430)	(172)	(76)
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	4	70	106	142
Sales, assets	(27)	0	(58)	(27)
Settlements, assets	(64)	(53)	(216)	(68)
Purchases, Sales, Issues and Settlements, Net, assets	(87)	17	(168)	47
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	612	282	1,151	861
Sales, assets	(11)	(178)	(11)	(201)
Settlements, assets	(219)	(387)	(320)	(541)
Purchases, Sales, Issues and Settlements, Net, assets	382	(283)	820	119
Other bond securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	87	76	211	535
Sales, assets	(19)	(378)	(133)	(460)
Settlements, assets	(420)	(424)	(875)	(935)
Purchases, Sales, Issues and Settlements, Net, assets	(352)	(726)	(797)	(860)
Other bond securities \| Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0			0
Sales, assets	0			0
Settlements, assets	(1)		(1)	0
Purchases, Sales, Issues and Settlements, Net, assets	(1)	0	(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	26	64	89	309
Sales, assets	0	(4)	(26)	(10)
Settlements, assets	(67)	(44)	(117)	(79)
Purchases, Sales, Issues and Settlements, Net, assets	(41)	16	(54)	220
Other bond securities \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0	53	0
Sales, assets	0	(43)	(71)	(79)
Settlements, assets	(2)	(11)	(5)	(75)
Purchases, Sales, Issues and Settlements, Net, assets	(2)	(54)	(23)	(154)
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	61	12	69	226
Sales, assets	(19)	(331)	(36)	(371)
Settlements, assets	(350)	(369)	(752)	(781)
Purchases, Sales, Issues and Settlements, Net, assets	(308)	(688)	(719)	(926)
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	0	0	0
Sales, assets	0	(2)	0	(2)
Settlements, assets	0	(1)	0	(1)
Purchases, Sales, Issues and Settlements, Net, assets	0	(3)	0	(3)
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	9	(42)	18	27
Sales, assets	(2)	(2)	(2)	(587)
Settlements, assets	(23)	(7)	(53)	(29)
Purchases, Sales, Issues and Settlements, Net, assets	$ (16)	$ (51)	$ (37)	$ (589)

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Assets)) - Discounted cash flow - Level 3 - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Corporate debt
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 386	$ 642
Corporate debt \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.80%	5.63%
Corporate debt \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.77%	12.45%
Corporate debt \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.29%	9.04%
Residential mortgage-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 17,238	$ 17,280
Residential mortgage-backed securities \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.78%	3.13%
Constant prepayment rate	1.26%	0.99%
Loss severity	46.90%	47.21%
Constant default rate	3.41%	3.49%
Residential mortgage-backed securities \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	6.07%	6.14%
Constant prepayment rate	8.84%	8.95%
Loss severity	80.26%	79.50%
Constant default rate	9.02%	9.04%
Residential mortgage-backed securities \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.43%	4.63%
Constant prepayment rate	5.05%	4.97%
Loss severity	63.58%	63.35%
Constant default rate	6.22%	6.26%
Certain CDO/ABS
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 3,017	$ 3,338
Certain CDO/ABS \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.54%	3.41%
Certain CDO/ABS \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.55%	4.98%
Certain CDO/ABS \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.54%	4.19%
Commercial mortgage backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 73	$ 2,388
Commercial mortgage backed securities \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	1.32%	0.00%
Commercial mortgage backed securities \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.73%	17.65%
Commercial mortgage backed securities \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.03%	6.62%
Obligations of states, municipalities and political subdivisions
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,448	$ 1,217
Obligations of states, municipalities and political subdivisions \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.44%	4.32%
Obligations of states, municipalities and political subdivisions \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.29%	5.10%
Obligations of states, municipalities and political subdivisions \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.86%	4.71%

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Liabilities) - Discounted cash flow - Level 3 - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Index Annuities
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 963	$ 715
Index Annuities \| Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Mortality multiplier	50.00%	50.00%
Lapse rates	0.75%	0.75%
Index Annuities \| Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Mortality multiplier	75.00%	75.00%
Lapse rates	66.00%	66.00%
Index Life
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 345	$ 332
Index Life \| Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	12.62%	13.25%
Base lapse rates	2.00%	2.00%
Mortality rates	0.00%	0.00%
Index Life \| Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	21.70%	22.00%
Base lapse rates	19.00%	19.00%
Mortality rates	40.00%	40.00%
GMWB and GMAB
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 2,710	$ 1,234
GMWB and GMAB \| Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	15.00%	15.00%
Base lapse rates	1.00%	1.00%
Dynamic lapse rates	0.20%	0.20%
Mortality multiplier	80.00%	80.00%
Utilization rates	0.00%	0.00%
Equity/Interest-rate Correlation	20.00%	20.00%
GMWB and GMAB \| Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	50.00%	50.00%
Base lapse rates	17.00%	17.00%
Dynamic lapse rates	25.50%	25.50%
Mortality multiplier	104.27%	104.27%
Utilization rates	70.00%	70.00%
Equity/Interest-rate Correlation	40.00%	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	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 6,934	$ 8,577
Unfunded Commitments	1,133	1,003
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	2,341	2,631
Unfunded Commitments	$ 1,098	970
Average original expected lives	10 years
Second investment redemption notice period	2 years
Private equity funds \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives	2 years
Private equity funds \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives	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	10.00%
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	12.00%
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	$ 1,560	1,774
Unfunded Commitments	547	436
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	266	306
Unfunded Commitments	227	213
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	99	107
Unfunded Commitments	34	41
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	134	146
Unfunded Commitments	42	41
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	282	298
Unfunded Commitments	248	239
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	4,593	5,946
Unfunded Commitments	$ 35	33
Hedge fund investments redeemable monthly (as a percent)	14.00%
Hedge fund investments redeemable quarterly (as a percent)	41.00%
Hedge fund investments redeemable semi-annually (as a percent)	12.00%
Hedge fund investments redeemable annually (as a percent)	33.00%
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	81.00%
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	$ 700	1,194
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	2,240	2,978
Unfunded Commitments	28	25
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	573	555
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	640	699
Unfunded Commitments	7	8
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	300	353
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	140	167
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	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	$ 210	$ 709	$ (163)	$ 918
Fair value option credit risk gains (losses) on liabilities	3	5	8	11
Fair Value Option \| Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	(71)	131	(247)	55
Fair Value Option \| Other liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	0	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)	248	460	298	601
Fair Value Option \| Alternative investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	$ 33	$ 118	$ (214)	263
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

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	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	$ 11	$ 11
Mortgage and other loans receivable, Outstanding Principal Amount	31,569	29,873
Mortgage and other loans receivable, Difference	31,569	29,873
Long-term debt, Fair Value	3,747	3,670
Long-term debt, Outstanding Principal Amount	33,329	29,249
Fair Value Option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	11	11
Mortgage and other loans receivable, Outstanding Principal Amount	8	9
Mortgage and other loans receivable, Difference	3	2
Long-term debt, Fair Value	3,747	3,670
Long-term debt, Outstanding Principal Amount	2,594	2,675
Long-term debt, Difference	$ 1,153	$ 995

FAIR VALUE MEASUREMENTS (Details - Assets measured at fair value on a non-recurring basis at the time of impairment and the related impairment charges recorded during the periods presented) - Fair value on a non-recurring basis - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	$ 130	$ 103	$ 289	$ 202
Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	29	27	31	52
Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	92	72	249	142
Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	9	$ 4	9	$ 8
Level 3 \| Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	711		711		$ 2,074
Level 3 \| Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	176		176		1,117
Level 3 \| Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	534		534		828
Level 3 \| Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	1		1		129
Total Fair Value \| Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	711		711		2,074
Total Fair Value \| Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	176		176		1,117
Total Fair Value \| Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	534		534		828
Total Fair Value \| Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	$ 1		$ 1		$ 129

FAIR VALUE MEASUREMENTS (Details - Carrying values and estimated fair values of our financial instruments not measured at fair value) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Assets:
Mortgage and other loans receivable	$ 31,261	$ 29,565
Short-term investments	12,334	10,132
Cash	1,784	1,629	$ 1,937	$ 1,758
Liabilities:
Other liabilities	27,393	26,164
Long-term Debt	33,329	29,249
Total Fair Value
Assets:
Mortgage and other loans receivable	32,969	30,345
Other invested assets	3,517	3,443
Short-term investments	8,385	7,541
Cash	1,784	1,629
Liabilities:
Policyholder contract deposits associated with investment-type contracts	126,645	117,846
Other liabilities	3,697	2,852
Long-term Debt	30,611	26,214
Level 1
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	1,784	1,629
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	174	198
Other invested assets	620	563
Short-term investments	8,385	7,541
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	366	309
Other liabilities	3,697	2,852
Long-term Debt	25,918	21,686
Level 3
Assets:
Mortgage and other loans receivable	32,795	30,147
Other invested assets	2,897	2,880
Short-term investments	0	0
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	126,279	117,537
Other liabilities	0	0
Long-term Debt	4,693	4,528
Carrying Value
Assets:
Mortgage and other loans receivable	31,250	29,554
Other invested assets	4,191	4,169
Short-term investments	8,385	7,541
Cash	1,784	1,629
Liabilities:
Policyholder contract deposits associated with investment-type contracts	111,459	108,788
Other liabilities	3,697	2,852
Long-term Debt	$ 29,582	$ 25,579

INVESTMENTS (Details - Amortized cost or cost and fair value of Available for sale securities) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 245,696	$ 242,347
Available for sale securities, Gross Unrealized Gains	20,031	14,087
Available for sale securities, Gross Unrealized Losses	(1,996)	(5,274)
Available-for-sale Securities	263,731	251,160
AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,098	1,482
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	244,450	240,968
Available for sale securities, Gross Unrealized Gains	19,624	12,527
Available for sale securities, Gross Unrealized Losses	(1,985)	(5,250)
Available-for-sale Securities	262,089	248,245
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	35,800	34,900
Bonds available for sale \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,098	1,482
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	2,024	1,698
Available for sale securities, Gross Unrealized Gains	245	155
Available for sale securities, Gross Unrealized Losses	(2)	(9)
Available-for-sale Securities	2,267	1,844
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	26,244	26,003
Available for sale securities, Gross Unrealized Gains	2,560	1,424
Available for sale securities, Gross Unrealized Losses	(27)	(104)
Available-for-sale Securities	28,777	27,323
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	0	19
Bonds available for sale \| Non-U.S. government
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	18,559	17,752
Available for sale securities, Gross Unrealized Gains	1,643	805
Available for sale securities, Gross Unrealized Losses	(110)	(362)
Available-for-sale Securities	20,092	18,195
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	132,265	133,513
Available for sale securities, Gross Unrealized Gains	11,026	6,462
Available for sale securities, Gross Unrealized Losses	(1,130)	(3,987)
Available-for-sale Securities	142,161	135,988
Bonds available for sale \| Corporate debt \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	(37)	(87)
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	65,358	62,002
Available for sale securities, Gross Unrealized Gains	4,150	3,681
Available for sale securities, Gross Unrealized Losses	(716)	(788)
Available-for-sale Securities	68,792	64,895
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	1,135	1,550
Bonds available for sale \| Residential mortgage-backed securities (RMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	35,072	33,878
Available for sale securities, Gross Unrealized Gains	2,824	2,760
Available for sale securities, Gross Unrealized Losses	(452)	(411)
Available-for-sale Securities	37,444	36,227
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	1,020	1,326
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	14,103	13,139
Available for sale securities, Gross Unrealized Gains	928	561
Available for sale securities, Gross Unrealized Losses	(57)	(129)
Available-for-sale Securities	14,974	13,571
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	78	185
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	16,183	14,985
Available for sale securities, Gross Unrealized Gains	398	360
Available for sale securities, Gross Unrealized Losses	(207)	(248)
Available-for-sale Securities	16,374	15,097
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	37	39
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	1,246	1,379
Available for sale securities, Gross Unrealized Gains	407	1,560
Available for sale securities, Gross Unrealized Losses	(11)	(24)
Available-for-sale Securities	1,642	2,915
Equity securities available for sale \| Common Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	796	913
Available for sale securities, Gross Unrealized Gains	332	1,504
Available for sale securities, Gross Unrealized Losses	(11)	(16)
Available-for-sale Securities	1,117	2,401
Equity securities available for sale \| Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	19	19
Available for sale securities, Gross Unrealized Gains	4	3
Available for sale securities, Gross Unrealized Losses	0	0
Available-for-sale Securities	23	22
Equity securities available for sale \| Mutual Funds
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	431	447
Available for sale securities, Gross Unrealized Gains	71	53
Available for sale securities, Gross Unrealized Losses	0	(8)
Available-for-sale Securities	$ 502	$ 492

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	Jun. 30, 2016 USD ($) item	Dec. 31, 2015 USD ($)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 19,482	$ 67,217
Gross Unrealized Losses, Less than 12 Months	598	3,182
Fair Value, 12 Months or More	18,632	13,595
Gross Unrealized Losses, 12 Months or More	1,398	2,092
Fair Value, Total	38,114	80,812
Gross Unrealized Losses, Total	1,996	5,274
Bonds available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	19,327	66,926
Gross Unrealized Losses, Less than 12 Months	588	3,158
Fair Value, 12 Months or More	18,630	13,595
Gross Unrealized Losses, 12 Months or More	1,397	2,092
Fair Value, Total	37,957	80,521
Gross Unrealized Losses, Total	$ 1,985	5,250
Number of securities in an unrealized loss position \| item	7,153
Number of individual securities in continuous unrealized loss position for longer than twelve months \| item	3,129
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	$ 51	483
Gross Unrealized Losses, Less than 12 Months	2	9
Fair Value, 12 Months or More	12	1
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	63	484
Gross Unrealized Losses, Total	2	9
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	163	2,382
Gross Unrealized Losses, Less than 12 Months	1	87
Fair Value, 12 Months or More	257	268
Gross Unrealized Losses, 12 Months or More	26	17
Fair Value, Total	420	2,650
Gross Unrealized Losses, Total	27	104
Bonds available for sale \| Non-U.S. government
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	1,236	4,327
Gross Unrealized Losses, Less than 12 Months	25	203
Fair Value, 12 Months or More	1,005	832
Gross Unrealized Losses, 12 Months or More	85	159
Fair Value, Total	2,241	5,159
Gross Unrealized Losses, Total	110	362
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	8,058	41,317
Gross Unrealized Losses, Less than 12 Months	302	2,514
Fair Value, 12 Months or More	9,098	5,428
Gross Unrealized Losses, 12 Months or More	828	1,473
Fair Value, Total	17,156	46,745
Gross Unrealized Losses, Total	1,130	3,987
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	4,263	7,215
Gross Unrealized Losses, Less than 12 Months	125	133
Fair Value, 12 Months or More	4,731	4,318
Gross Unrealized Losses, 12 Months or More	327	278
Fair Value, Total	8,994	11,533
Gross Unrealized Losses, Total	452	411
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	620	4,138
Gross Unrealized Losses, Less than 12 Months	29	108
Fair Value, 12 Months or More	639	573
Gross Unrealized Losses, 12 Months or More	28	21
Fair Value, Total	1,259	4,711
Gross Unrealized Losses, Total	57	129
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	4,936	7,064
Gross Unrealized Losses, Less than 12 Months	104	104
Fair Value, 12 Months or More	2,888	2,175
Gross Unrealized Losses, 12 Months or More	103	144
Fair Value, Total	7,824	9,239
Gross Unrealized Losses, Total	207	248
Equity securities available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	155	291
Gross Unrealized Losses, Less than 12 Months	10	24
Fair Value, 12 Months or More	2	0
Gross Unrealized Losses, 12 Months or More	1	0
Fair Value, Total	157	291
Gross Unrealized Losses, Total	$ 11	24
Number of securities in an unrealized loss position \| item	140
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	$ 142	91
Gross Unrealized Losses, Less than 12 Months	10	16
Fair Value, 12 Months or More	2	0
Gross Unrealized Losses, 12 Months or More	1	0
Fair Value, Total	144	91
Gross Unrealized Losses, Total	11	16
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	13	200
Gross Unrealized Losses, Less than 12 Months	0	8
Fair Value, 12 Months or More	0	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	13	200
Gross Unrealized Losses, Total	$ 0	$ 8

INVESTMENTS (Details - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 245,696	$ 242,347
Fixed Maturity Securities Available for Sale, Fair Value, Total	262,089	248,245
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	745	1,122
Due after one year through five years, Amortized Cost	4,813	9,847
Due after five years through ten years, Amortized Cost	7,253	22,296
Due after ten years, Amortized Cost	8,338	26,235
Mortgage-backed, asset-backed and collateralized, Amortized Cost	18,793	26,271
Available for sale securities, Amortized Cost, Total	39,942	85,771
Due in one year or less, Fair Value	734	1,103
Due after one year through five years, Fair Value	4,616	9,494
Due after five years through ten years, Fair Value	6,779	20,686
Due after ten years, Fair Value	7,751	23,755
Mortgage-backed, asset-backed and collateralized, Fair Value	18,077	25,483
Fixed Maturity Securities Available for Sale, Fair Value, Total	37,957	80,521
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	8,363	9,176
Due after one year through five years, Amortized Cost	51,468	47,230
Due after five years through ten years, Amortized Cost	50,399	54,120
Due after ten years, Amortized Cost	68,862	68,440
Mortgage-backed, asset-backed and collateralized, Amortized Cost	65,358	62,002
Available for sale securities, Amortized Cost, Total	244,450	240,968
Due in one year or less, Fair Value	8,501	9,277
Due after one year through five years, Fair Value	54,680	49,196
Due after five years through ten years, Fair Value	53,104	54,459
Due after ten years, Fair Value	77,012	70,418
Mortgage-backed, asset-backed and collateralized, Fair Value	68,792	64,895
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 262,089	$ 248,245

INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	$ 1,197	$ 218	$ 1,416	$ 863
Gross Realized Losses	99	62	656	185
Aggregate fair value of available for sale securities sold	8,300	7,100	14,400	14,000
Net realized capital gains (losses)	1,100	156	760	678
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	217	194	404	343
Gross Realized Losses	93	59	642	177
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	980	24	1,012	520
Gross Realized Losses	$ 6	$ 3	$ 14	$ 8

INVESTMENTS (Details - Value of other securities measured at fair value based on election of the fair value option) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 15,996	$ 17,703
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	$ 557	$ 712
Fixed maturity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 15,335	$ 16,782
Other Securities, Percent of Total	96.00%	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	$ 3,595	$ 3,369
Other Securities, Percent of Total	23.00%	19.00%
Fixed maturity securities \| Obligations of states, municipalities and political subdivisions
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 0	$ 75
Other Securities, Percent of Total	0.00%	0.00%
Fixed maturity securities \| Non-U.S. government
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 55	$ 50
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	$ 1,967	$ 2,035
Other Securities, Percent of Total	12.00%	12.00%
Fixed maturity securities \| Mortgage-backed, asset-backed and collateralized
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 9,718	$ 11,253
Other Securities, Percent of Total	61.00%	64.00%
Fixed maturity securities \| Residential mortgage-backed securities (RMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,925	$ 2,230
Other Securities, Percent of Total	12.00%	13.00%
Fixed maturity securities \| Commercial mortgage-backed securities (CMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 666	$ 750
Other Securities, Percent of Total	4.00%	4.00%
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	$ 7,127	$ 8,273
Other Securities, Percent of Total	45.00%	47.00%
Fixed maturity securities \| Other
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 0	$ 0
Equity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 661	$ 921
Other Securities, Percent of Total	4.00%	5.00%

INVESTMENTS (Details - Carrying values of other invested assets) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Investment [Line Items]
Other invested assets				$ 27,345	$ 29,794
Hedge Funds
Investment [Line Items]
Hedge Fund Fair Value Redemption, Percentage			59.00%
Hedge Fund Fair Value Redemption, Additional Percentage	10.00%	24.00%
Alternative investments
Investment [Line Items]
Other invested assets				14,972	18,150
Alternative investments \| Hedge Funds
Investment [Line Items]
Other invested assets				8,300	10,900
Alternative investments \| Private equity funds
Investment [Line Items]
Other invested assets				6,000	6,500
Alternative investments \| Affordable Housing Partnerships
Investment [Line Items]
Other invested assets				633	701
Mutual Funds
Investment [Line Items]
Other invested assets				0	0
Investment real estate
Investment [Line Items]
Other invested assets				7,340	6,579
Net of accumulated depreciation on investment in real estate				579	668
Aircraft asset investments
Investment [Line Items]
Other invested assets				427	477
Investment In Aer Cap [Member]
Investment [Line Items]
Other invested assets				0	0
Investments in life settlements
Investment [Line Items]
Other invested assets				3,565	3,606
All other investments
Investment [Line Items]
Other invested assets				$ 1,041	$ 982

INVESTMENTS (Details - Components of Net investment income) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Investment [Line Items]
Total investment income	$ 3,792	$ 3,943	$ 6,919	$ 7,933
Investment expenses	109	117	223	269
Net investment income	3,683	3,826	6,696	7,664
Fixed maturity securities, including short-term investments
Investment [Line Items]
Total investment income	2,992	2,800	5,928	5,683
Equity securities
Investment [Line Items]
Total investment income	(22)	66	(44)	81
Interest on mortgage and other loans
Investment [Line Items]
Total investment income	376	347	765	686
Alternative investments
Investment [Line Items]
Total investment income	310	658	(56)	1,244
Real estate
Investment [Line Items]
Total investment income	35	24	88	50
Other investments
Investment [Line Items]
Total investment income	$ 101	$ 48	$ 238	$ 189

INVESTMENTS (Details - Components of Net realized capital gains (losses)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other-than-temporary impairments:
Severity	$ (3)	$ 0	$ (5)	$ (2)
Change in intent	(4)	(88)	(33)	(112)
Foreign currency declines	(1)	(3)	(7)	(32)
Issuer-specific credit events	(95)	(70)	(226)	(138)
Adverse projected cash flows	(5)	(3)	(41)	(8)
Provision for loan losses	(30)	(13)	0	11
Foreign exchange transactions	(38)	66	(558)	320
Derivative and hedge accounting	170	288	97	496
Impairments on investments in life settlements	(92)	(72)	(249)	(142)
Other	42	(135)	198	396
Net realized capital gains (losses)	1,042	126	(64)	1,467
Prudential Financial
Other-than-temporary impairments:
Net realized capital gains (losses)			107	428
SpringLeaf Holdings
Other-than-temporary impairments:
Net realized capital gains (losses)				357
AerCap
Other-than-temporary impairments:
Net realized capital gains (losses)				463
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	124	135	(238)	166
Equity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	$ 974	$ 21	$ 998	$ 512

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ 4,473	$ (6,309)	$ 9,008	$ (5,038)
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	5,584	(6,559)	10,362	(4,403)
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(1,045)	287	(1,140)	(95)
Other investments
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (66)	$ (37)	$ (214)	$ (540)

INVESTMENTS (Details - Rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings) - Fixed maturity securities - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 1,523	$ 2,466	$ 1,747	$ 2,659
Increases due to:
Credit impairments on new securities subject to impairment losses	13	35	123	50
Additional credit impairments on previously impaired securities	74	25	129	47
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(93)	(108)	(243)	(150)
Credit impaired securities for which there is a current intent or anticipated requirement to sell	0		0
Accretion on securities previously impaired due to credit	(219)	(180)	(458)	(368)
Other	0	0	0	0
Balance, end of year	$ 1,298	$ 2,238	$ 1,298	$ 2,238

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 244,450		$ 244,450		$ 240,968
Fair value	263,731		263,731		251,160
Purchased Credit Impaired (PCI) Securities
Schedule of Available-for-sale Securities [Line Items]
Contractually required payments (principal and interest)	34,940		34,940
Cash flows expected to be collected	28,437		28,437
Recorded investment in acquired securities	19,059		19,059
Outstanding principal balance	17,173		17,173		16,871
Amortized cost	12,397		12,397		12,303
Fair value	12,992		12,992		$ 13,164
Available for sale securities \| Purchased Credit Impaired (PCI) Securities
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of period	6,622	$ 6,765	6,846	$ 6,865
Newly purchased PCI securities	245	170	451	415
Disposals	0	(13)	0	(13)
Accretion	(209)	(221)	(423)	(441)
Effect of changes in interest rate indices	60	(6)	(239)	(144)
Net reclassification from non-accretable difference, including effects of prepayments	325	138	408	151
Balance, end of period	$ 7,043	$ 6,833	$ 7,043	$ 6,833

INVESTMENTS (Details - Pledged Investments) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Investment [Line Items]
Fair value of securities collateral pledged	$ 1,489	$ 1,742
Fair value of amount sold or repledged	105	0
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	5,100	4,900
Short-term investments held in escrow	507	439
FHLBs
Investment [Line Items]
Fair value of fixed maturities securities available for sale	3,500	1,200
Amount owned by subsidiaries	107	47
Secured financing
Investment [Line Items]
Fair value of fixed maturities securities available for sale	1,704	1,145
Fair value of other bond securities	2,093	1,740
Amounts Borrowed Under Repurchase and Securities Lending Agreements	3,800	2,900
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	2,078	1,790
Securities Lending Agreements, Fair Value of Collateral	1,719	1,095
Secured financing \| U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0
Secured financing \| Overnight and continuous
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	116	0
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing \| Up to 30 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	73	83
Securities Lending Agreements, Fair Value of Collateral	535
Secured financing \| Up to 30 Days \| U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0
Secured financing \| 31 to 90 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	734	332
Securities Lending Agreements, Fair Value of Collateral	921	971
Secured financing \| 91 to 364 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	1,035	1,375
Securities Lending Agreements, Fair Value of Collateral	243	124
Secured financing \| 365 Days or Greater
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	120
Securities Lending Agreements, Fair Value of Collateral	20
Secured financing \| Bonds available for sale \| Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral		50
Securities Lending Agreements, Fair Value of Collateral	0	57
Secured financing \| Bonds available for sale \| Corporate debt
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	1,261	914
Secured financing \| Bonds available for sale \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	442	124
Secured financing \| Bonds available for sale \| Up to 30 Days \| Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral		50
Secured financing \| Bonds available for sale \| Up to 30 Days \| Corporate debt
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	285
Secured financing \| Bonds available for sale \| Up to 30 Days \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	241
Secured financing \| Bonds available for sale \| 31 to 90 Days \| Non-U.S. government
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral		57
Secured financing \| Bonds available for sale \| 31 to 90 Days \| Corporate debt
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	713	914
Secured financing \| Bonds available for sale \| 31 to 90 Days \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	201
Secured financing \| Bonds available for sale \| 91 to 364 Days \| Non-U.S. government
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing \| Bonds available for sale \| 91 to 364 Days \| Corporate debt
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	243
Secured financing \| Bonds available for sale \| 91 to 364 Days \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	124
Secured financing \| Bonds available for sale \| 365 Days or Greater \| Corporate debt
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	20
Secured financing \| Other bond securities \| Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	55	49
Secured financing \| Other bond securities \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	1,907	1,691
Secured financing \| Other bond securities \| U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	116
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing \| Other bond securities \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	16
Secured financing \| Other bond securities \| Overnight and continuous \| U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	116
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing \| Other bond securities \| Up to 30 Days \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	73	33
Secured financing \| Other bond securities \| Up to 30 Days \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	9
Secured financing \| Other bond securities \| 31 to 90 Days \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	734	332
Secured financing \| Other bond securities \| 31 to 90 Days \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	7
Secured financing \| Other bond securities \| 91 to 364 Days \| Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	55	49
Secured financing \| Other bond securities \| 91 to 364 Days \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	980	1,326
Secured financing \| Other bond securities \| 91 to 364 Days \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing \| Other bond securities \| 365 Days or Greater \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	120
GIAs
Investment [Line Items]
Fair value of other bond securities	$ 2,300	$ 2,400

LENDING ACTIVITIES (Details - Composition of Mortgages and other loans receivable) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 31,569	$ 29,873
Allowance for losses	(308)	(308)	$ (262)	$ (271)
Mortgage and other loans receivable, net	31,261	29,565
Commercial mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	22,904	22,067
Allowance for losses	$ (198)	$ (171)	$ (151)	$ (159)
Commercial mortgages \| California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	12.00%	12.00%
Commercial mortgages \| New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	24.00%	22.00%
Residential Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 3,307	$ 2,758
Life insurance policy loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	2,538	2,597
Commercial loans, other loans and notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 2,820	$ 2,451

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgage loans) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016 USD ($) loan	Dec. 31, 2015 USD ($) loan	Jun. 30, 2015 USD ($)	Dec. 31, 2014 USD ($)
Commercial Mortgage Recorded Investment [Line Items]
Mortgage and other loans receivable, net	$ 31,261	$ 29,565
Allowance for credit losses	308	308	$ 262	$ 271
Total mortgage and other loans receivable	31,569	29,873
Apartments
Commercial Mortgage Recorded Investment [Line Items]
In good standing	4,342	3,916
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	3	3
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	48	35
Allowance for credit losses	48	35
Total mortgage and other loans receivable	4,345	3,919
Offices
Commercial Mortgage Recorded Investment [Line Items]
In good standing	7,647	7,484
Restructured	235	156
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	12	205
Allowance for credit losses, Specific	4	16
Allowance for credit losses, General	55	47
Allowance for credit losses	59	63
Total mortgage and other loans receivable	7,894	7,845
Retail
Commercial Mortgage Recorded Investment [Line Items]
In good standing	4,995	4,809
Restructured	19	25
90 days or less delinquent	0	4
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	1	1
Allowance for credit losses, General	44	29
Allowance for credit losses	45	30
Total mortgage and other loans receivable	5,014	4,838
Industrial
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,713	1,902
Restructured	0	6
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	6
Allowance for credit losses, Specific	6	6
Allowance for credit losses, General	6	8
Allowance for credit losses	12	14
Total mortgage and other loans receivable	1,713	1,914
Hotel
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,454	2,082
Restructured	16	16
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	6	0
Allowance for credit losses, Specific	1	1
Allowance for credit losses, General	21	15
Allowance for credit losses	22	16
Total mortgage and other loans receivable	2,476	2,098
Others
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,450	1,435
Restructured	0	6
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	12	12
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	12	13
Allowance for credit losses	12	13
Total mortgage and other loans receivable	$ 1,462	$ 1,453
Commercial mortgages
Commercial Mortgage Recorded Investment [Line Items]
Number of loans in good standing \| loan	802	830
Number of loans restructured \| loan	8	9
Number of loans 90 days or less delinquent \| loan	0	1
Number of loans greater than 90 days delinquent or in process of foreclosure \| loan	7	9
Number of Loans \| loan	817	849
In good standing	$ 22,601	$ 21,628
Restructured	270	209
90 days or less delinquent	0	4
Greater than 90 days delinquent or in process of foreclosure	33	226
Allowance for credit losses, Specific	12	24
Allowance for credit losses, General	186	147
Allowance for credit losses	$ 198	$ 171
Percentage of loans that are current as to payments of principal and interest	99.00%	98.00%
Percentage restructured	1.00%	1.00%
Percentage greater than 90 days delinquent or in foreclosure	0.00%	1.00%
Percentage Total	100.00%	100.00%
Percentage of loans with valuation allowance, Genaral	1.00%	1.00%
Percentage of loans with allowance for losses	1.00%	1.00%
Total mortgage and other loans receivable	$ 22,904	$ 22,067
Commercial mortgages \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	19,786	18,660
Commercial mortgages \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	2,656	2,710
Commercial mortgages \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	462	697
Commercial mortgages \| Less than 65%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	14,117	12,137
Commercial mortgages \| Less than 65% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	12,105	10,283
Commercial mortgages \| Less than 65% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,873	1,704
Commercial mortgages \| Less than 65% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	139	150
Commercial mortgages \| 65% to 75%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	6,055	7,017
Commercial mortgages \| 65% to 75% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	5,660	6,361
Commercial mortgages \| 65% to 75% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	352	611
Commercial mortgages \| 65% to 75% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	43	45
Commercial mortgages \| 76% to 80%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,693	1,620
Commercial mortgages \| 76% to 80% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,445	1,370
Commercial mortgages \| 76% to 80% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	164	169
Commercial mortgages \| 76% to 80% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	84	81
Commercial mortgages \| Greater than 80%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,039	1,293
Commercial mortgages \| Greater than 80% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	576	646
Commercial mortgages \| Greater than 80% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	267	226
Commercial mortgages \| Greater than 80% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	$ 196	$ 421

LENDING ACTIVITIES (Details - Rollforward of the changes in the allowance for losses on Mortgage and other loans receivable) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 308	$ 271
Loans charged off	(13)	(5)
Recoveries of loans previously charged off	11	4
Net charge-offs	(2)	(1)
Provision for loan losses	2	(12)
Other	0	4
Allowance, end of period	308	262
Loans modified in a troubled debt restructuring	84	97
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	171	159
Loans charged off	(13)	(4)
Recoveries of loans previously charged off	11	3
Net charge-offs	(2)	(1)
Provision for loan losses	29	(9)
Other	0	2
Allowance, end of period	198	151
Allowance related to individually assessed credit losses	12	30
Commercial mortgage loans	352	570
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	137	112
Loans charged off	0	(1)
Recoveries of loans previously charged off	0	1
Net charge-offs	0	0
Provision for loan losses	(27)	(3)
Other	0	2
Allowance, end of period	$ 110	$ 111

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Assets:
Bonds available for sale	$ 262,089.0	$ 248,245.0
Other bond securities	15,335.0	16,782.0
Mortgage and other loans receivable	31,261.0	29,565.0
Other invested assets	27,345.0	29,794.0
Liabilities:
Long-term Debt	33,329.0	29,249.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	27,345.0	29,794.0
Real Estate and Investment Funds
Liabilities:
Off-balance sheet exposure	119.0	131.0
Consolidated VIE
Assets:
Bonds available for sale	10,124.0	10,324.0
Other bond securities	5,594.0	6,167.0
Mortgage and other loans receivable	1,773.0	2,093.0
Other invested assets	5,343.0	3,598.0
Other assets	2,024.0	1,924.0
Total assets	24,858.0	24,106.0
Liabilities:
Long-term Debt	4,080.0	2,597.0
Other liabilities	809.0	556.0
Total liabilities	4,889.0	3,153.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	5,343.0	3,598.0
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	1.0
Other invested assets	2,043.0	489.0
Other assets	570.0	29.0
Total assets	2,614.0	519.0
Liabilities:
Long-term Debt	1,538.0	0.0
Other liabilities	216.0	34.0
Total liabilities	1,754.0	34.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	2,043.0	489.0
Consolidated VIE \| Securitization Vehicles
Assets:
Bonds available for sale	10,116.0	10,309.0
Other bond securities	5,254.0	5,756.0
Mortgage and other loans receivable	1,654.0	1,960.0
Other invested assets	427.0	477.0
Other assets	912.0	1,349.0
Total assets	18,363.0	19,851.0
Liabilities:
Long-term Debt	845.0	1,025.0
Other liabilities	216.0	236.0
Total liabilities	1,061.0	1,261.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	427.0	477.0
Consolidated VIE \| Structured Investment Vehicles
Assets:
Bonds available for sale	0.0	0.0
Other bond securities	334.0	387.0
Mortgage and other loans receivable	0.0	0.0
Other invested assets	0.0	0.0
Other assets	78.0	94.0
Total assets	412.0	481.0
Liabilities:
Long-term Debt	52.0	53.0
Other liabilities	0.0	1.0
Total liabilities	52.0	54.0
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	2,848.0	2,608.0
Other assets	296.0	293.0
Total assets	3,144.0	2,901.0
Liabilities:
Long-term Debt	1,639.0	1,513.0
Other liabilities	235.0	214.0
Total liabilities	1,874.0	1,727.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	2,848.0	2,608.0
Consolidated VIE \| Other
Assets:
Bonds available for sale	8.0	15.0
Other bond securities	6.0	24.0
Mortgage and other loans receivable	118.0	132.0
Other invested assets	25.0	24.0
Other assets	168.0	159.0
Total assets	325.0	354.0
Liabilities:
Long-term Debt	6.0	6.0
Other liabilities	142.0	71.0
Total liabilities	148.0	77.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	25.0	24.0
Unconsolidated VIE
Assets:
Other invested assets	13,000.0	3,800.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	434,656.0	28,316.0
Maximum Exposure to Loss, On-Balance Sheet	13,510.0	4,061.0
Maximum Exposure to Loss, Off-Balance Sheet	2,945.0	1,398.0
Total maximum exposure to loss	16,455.0	5,459.0
Other invested assets	13,000.0	3,800.0
Unconsolidated VIE \| Real Estate and Investment Funds
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	425,402.0	21,951.0
Maximum Exposure to Loss, On-Balance Sheet	12,346.0	3,072.0
Maximum Exposure to Loss, Off-Balance Sheet	2,166.0	398.0
Total maximum exposure to loss	14,512.0	3,470.0
Unconsolidated VIE \| Affordable Housing Partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	4,908.0	5,255.0
Maximum Exposure to Loss, On-Balance Sheet	825.0	774.0
Maximum Exposure to Loss, Off-Balance Sheet	0.0	0.0
Total maximum exposure to loss	825.0	774.0
Unconsolidated VIE \| Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	4,346.0	1,110.0
Maximum Exposure to Loss, On-Balance Sheet	339.0	215.0
Maximum Exposure to Loss, Off-Balance Sheet	779.0	1,000.0
Total maximum exposure to loss	$ 1,118.0	$ 1,215.0

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of our derivative instruments) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	$ 135,025	$ 102,768
Gross Derivative Assets, Fair Value	6,830	4,131
Gross Derivative Liabilities, Notional Amount	48,610	82,913
Gross Derivative Liabilities, Fair Value	4,983	4,048
Derivative assets, Counterparty netting	(2,192)	(1,268)
Derivative assets, Cash collateral	(3,233)	(1,554)
Total derivative assets on consolidated balance sheet	1,405	1,309
Derivative liabilities, Counterparty netting	(2,192)	(1,268)
Derivative liabilities, Cash collateral	(738)	(760)
Total derivative liabilities on consolidated balance sheet	2,053	2,020
Bifurcated embedded derivatives
Derivative [Line Items]
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Fair Value	4,100	2,300
Derivatives designated as hedging instruments \| Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	519	301
Gross Derivative Assets, Fair Value	4	1
Gross Derivative Liabilities, Notional Amount	520	725
Gross Derivative Liabilities, Fair Value	3	2
Derivatives designated as hedging instruments \| Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	5,081	2,903
Gross Derivative Assets, Fair Value	455	207
Gross Derivative Liabilities, Notional Amount	852	914
Gross Derivative Liabilities, Fair Value	32	56
Derivatives designated as hedging instruments \| Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	120	0
Gross Derivative Assets, Fair Value	1	0
Gross Derivative Liabilities, Notional Amount	0	121
Gross Derivative Liabilities, Fair Value	0	23
Derivatives not designated as hedging instruments \| Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	68,331	45,846
Gross Derivative Assets, Fair Value	5,025	3,161
Gross Derivative Liabilities, Notional Amount	30,817	65,733
Gross Derivative Liabilities, Fair Value	3,023	2,197
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	11,131	9,472
Gross Derivative Assets, Fair Value	1,041	559
Gross Derivative Liabilities, Notional Amount	7,784	8,900
Gross Derivative Liabilities, Fair Value	1,419	1,148
Derivatives not designated as hedging instruments \| Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	11,046	6,656
Gross Derivative Assets, Fair Value	278	177
Gross Derivative Liabilities, Notional Amount	7,478	5,028
Gross Derivative Liabilities, Fair Value	5	45
Derivatives not designated as hedging instruments \| Commodity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0	0
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	0	0
Gross Derivative Liabilities, Fair Value	0	0
Derivatives not designated as hedging instruments \| Credit contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	4	4
Gross Derivative Assets, Fair Value	3	3
Gross Derivative Liabilities, Notional Amount	967	1,289
Gross Derivative Liabilities, Fair Value	376	508
Derivatives not designated as hedging instruments \| Other contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	38,793	37,586
Gross Derivative Assets, Fair Value	23	23
Gross Derivative Liabilities, Notional Amount	192	203
Gross Derivative Liabilities, Fair Value	$ 125	$ 69

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Derivative Liabilities, Notional Amount	$ 48,610	$ 82,913
Derivative Liabilities, Fair Value	4,983	4,048
Collateral
Collateral posted to third parties for derivative transactions	3,100	3,000
Collateral obtained from third parties for derivative transactions	3,300	1,600
Global Capital Markets (GCM) derivatives
Derivative [Line Items]
Derivative Liabilities, Notional Amount	900	1,100
Derivative Liabilities, Fair Value	$ 353	$ 483

DERIVATIVES AND HEDGE ACCOUNTING (Details - Hedge Accounting) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	$ (4)	$ (21)	$ (9)	$ 73
Derivatives designated as hedging instruments \| Interest rate contracts \| Fair value hedging \| Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	1	1
Gain (loss) recognized in earnings on hedged items	0	0	(7)	(1)
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	(6)	0
Derivatives designated as hedging instruments \| Interest rate contracts \| Fair value hedging \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on hedged items	5	2	7	5
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	5	2	7	5
Derivatives designated as hedging instruments \| Interest rate contracts \| Fair value hedging \| Loss on extinguishment of debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	0
Gain (loss) recognized in earnings on hedged items	0	0	0	13
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	0	13
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Fair value hedging \| Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	389	(60)	423	72
Gain (loss) recognized in earnings on hedged items	(345)	73	(409)	(56)
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	43	13	14	13
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	1	0	0	3
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Fair value hedging \| Interest credited to policyholder account balances
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on hedged items				(1)
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other				(1)
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Fair value hedging \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on hedged items	5	4	12	10
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	5	4	12	10
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Fair value hedging \| Loss on extinguishment of debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	0
Gain (loss) recognized in earnings on hedged items	0	1	0	17
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	1	0	17
Derivatives designated as hedging instruments \| Equity contracts \| Fair value hedging \| Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	10	(13)	20	(19)
Gain (loss) recognized in earnings on hedged items	(7)	13	(19)	18
Gain (loss) recognized in earnings for ineffective portion	0	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	3	0	1	(1)
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	0	0
Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	179	314	40	898
Derivatives not designated as hedging instruments \| Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	123	305	88	476
Derivatives not designated as hedging instruments \| Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	13	(13)	12	14
Derivatives not designated as hedging instruments \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	18	8	(112)	370
Derivatives not designated as hedging instruments \| Policy fees
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	20	20	40	39
Derivatives not designated as hedging instruments \| Policyholder benefits and claims incurred
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	5	(6)	12	(1)
Derivatives not designated as hedging instruments \| Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	603	(427)	1,373	(71)
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	182	(52)	154	270
Derivatives not designated as hedging instruments \| Equity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(141)	(31)	(272)	(120)
Derivatives not designated as hedging instruments \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	(1)
Derivatives not designated as hedging instruments \| Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	28	13	34	160
Derivatives not designated as hedging instruments \| Other contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	20	(35)	36	(13)
Derivatives not designated as hedging instruments \| Embedded derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	$ (513)	$ 846	$ (1,285)	$ 673

DERIVATIVES AND HEDGE ACCOUNTING (Details - Additional Information) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Credit Derivatives [Line Items]
Collateral posted	$ 3,100	$ 3,000
Fair value of hybrid securities	5,100	5,700
Par value of hybrid securities	10,600	11,200
Credit Risk Related Contingent Features [Member]
Credit Derivatives [Line Items]
Collateral posted	2,100	2,100
Aggregate fair value of net liability position	2,000	$ 2,000
Additional collateral postings and termination payments	$ 137
Global Capital Markets (GCM) derivatives \| Super Senior CDS \| Arbitrage \| Multi-sector CDOs
Credit Derivatives [Line Items]
Derivative weighted average maturity	6 years

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) $ in Millions									6 Months Ended	9 Months Ended	39 Months Ended
	Jun. 15, 2015 USD ($)	Oct. 22, 2014 USD ($)	Sep. 16, 2013 individual	Mar. 11, 2013 class	Nov. 29, 2012 USD ($) item	Nov. 21, 2011	Dec. 17, 2010 USD ($) item	Feb. 25, 2010 individual	Jun. 30, 2016 USD ($) complaint multiple	Jan. 31, 2009 complaint	Feb. 09, 2015 complaint
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of states participating in the accident and health products examination \| item							50
Other Commitments
Other Commitments									$ 3,200.0
Chartis U.S.
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Settlement agreement, number of jurisdictions \| item					50
Civil penalty paid					$ 50.0
AIG \| Regulatory fines and penalties
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Litigation Settlement, Amount							$ 100.0
AIG \| Outstanding premium taxes and assessments
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Litigation Settlement, Amount							46.5
AIG \| Contingent fines
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Litigation Settlement, Amount							$ 150.0
Consolidated 2008 Securities Litigation
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed \| complaint										8
Payment for legal settlement		$ 960.0
Starr International Litigation
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed \| class				2
Damages claimed	$ 40,000.0
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 \| individual			286,908
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									$ 3,200.0
Individual Securities Litigations [Member]
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 actions brought against AIG \| complaint									9
Number of cases that have been settled \| complaint									8

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) $ in Millions	Jun. 30, 2016 USD ($)
Other Operations
Guarantor Obligations [Line Items]
Amount outstanding under standby letters of credit at end of period	$ 208

EQUITY (Details - Shares Outstanding) - USD ($)			6 Months Ended
EQUITY (Details - Shares Outstanding) - USD ($)	Jun. 27, 2016	Mar. 28, 2016	Jun. 30, 2016	Aug. 02, 2016	Feb. 11, 2016
The following table presents a roll forward of outstanding shares:
Shares, beginning of year			(712,754,875)
Shares, beginning of year			1,906,671,492
Shares, beginning of year			1,193,916,617
Issuances (in shares)			2,017,200
Shares repurchased			(113,244,455)
Shares, end of period			(823,982,130)
Shares, end of period			1,906,671,492
Shares, end of period			1,082,689,362
Dividend paid (in dollars per share)	$ 0.32	$ 0.32
Shares repurchased (in shares)			113,244,455
Subsequent event
The following table presents a roll forward of outstanding shares:
Aggregate repurchase authorization purchase amount				$ 3,000,000,000
Common stock authorized to be repurchased				$ 4,000,000,000
Common Stock Issued
The following table presents a roll forward of outstanding shares:
Shares, beginning of year			1,906,671,492
Issuances (in shares)			0
Shares repurchased			0
Shares, end of period			1,906,671,492
Shares repurchased (in shares)			0
Common Stock Issued \| AIG
The following table presents a roll forward of outstanding shares:
Shares repurchased			(113,000,000)
Aggregate repurchase authorization purchase amount					$ 5,000,000,000
Common stock authorized to be repurchased			$ 1,800,000,000
Shares repurchased (in shares)			113,000,000
Aggregate purchase price of repurchased shares			$ 6,200,000,000
Treasury Stock
The following table presents a roll forward of outstanding shares:
Shares, beginning of year			(712,754,875)
Issuances (in shares)			2,017,200
Shares repurchased			(113,244,455)
Shares, end of period			(823,982,130)
Shares repurchased (in shares)			113,244,455
Warrants
The following table presents a roll forward of outstanding shares:
Amount paid to purchase warrants			$ 263,000,000
Warrants repurchased			15,000,000

EQUITY (Details - Rollforward of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			$ 2,537	$ 10,617
Change in unrealized appreciation (depreciation) of investments			9,008	(5,038)
Change in deferred acquisition costs adjustment and other			(690)	486
Change in future policy benefits			(1,583)	896
Changes in foreign currency translation adjustments			158	(684)
Net actuarial gain (loss)			11	91
Prior service (cost) credit			(13)	(23)
Deferred tax asset (liability)	$ (822)	$ 1,563	(1,169)	1,272
Other Comprehensive Income (Loss)	2,734	(3,037)	5,722	(3,000)
Noncontrolling interests				(3)
Balance, end of period, net of tax	8,259	7,620	8,259	7,620
Accumulated Other Comprehensive Income
A rollforward of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)			5,722	(2,997)
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			696	1,043
Change in unrealized appreciation (depreciation) of investments			(491)	(195)
Change in deferred acquisition costs adjustment and other			(8)	(9)
Change in future policy benefits			0	92
Deferred tax asset (liability)	(12)	(25)	172	4
Other Comprehensive Income (Loss)	22	(36)	(327)	(108)
Balance, end of period, net of tax	369	935	369	935
Unrealized Appreciation (Depreciation) of All Other Investments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			5,566	12,327
Change in unrealized appreciation (depreciation) of investments			9,499	(4,843)
Change in deferred acquisition costs adjustment and other			(682)	495
Change in future policy benefits			(1,583)	804
Deferred tax asset (liability)	(830)	1,583	(1,398)	1,092
Other Comprehensive Income (Loss)	2,409	(2,991)	5,836	(2,452)
Balance, end of period, net of tax	11,402	9,875	11,402	9,875
Foreign Currency Translation Adjustments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			(2,879)	(1,784)
Changes in foreign currency translation adjustments			158	(684)
Deferred tax asset (liability)	23	15	63	188
Other Comprehensive Income (Loss)	313	(37)	221	(496)
Noncontrolling interests				(3)
Balance, end of period, net of tax	(2,658)	(2,277)	(2,658)	(2,277)
Retirement Plan Liabilities Adjustment
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			(846)	(969)
Net actuarial gain (loss)			11	91
Prior service (cost) credit			(13)	(23)
Deferred tax asset (liability)	(3)	(10)	(6)	(12)
Other Comprehensive Income (Loss)	(10)	27	(8)	56
Balance, end of period, net of tax	$ (854)	$ (913)	$ (854)	$ (913)

EQUITY (Details - Other comprehensive income reclassification adjustments) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	$ 4,615	$ (4,478)	$ 7,666	$ (3,688)
Less: Reclassification adjustments included in net income	1,059	122	775	584
Total other comprehensive income (loss), before income tax expense (benefit)	3,556	(4,600)	6,891	(4,272)
Less: Income tax expense (benefit)	822	(1,563)	1,169	(1,272)
Other comprehensive income (loss)	2,734	(3,037)	5,722	(3,000)
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	59	35	(399)	(57)
Less: Reclassification adjustments included in net income	25	46	100	55
Total other comprehensive income (loss), before income tax expense (benefit)	34	(11)	(499)	(112)
Less: Income tax expense (benefit)	12	25	(172)	(4)
Other comprehensive income (loss)	22	(36)	(327)	(108)
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	4,277	(4,475)	7,917	(2,968)
Less: Reclassification adjustments included in net income	1,038	99	683	576
Total other comprehensive income (loss), before income tax expense (benefit)	3,239	(4,574)	7,234	(3,544)
Less: Income tax expense (benefit)	830	(1,583)	1,398	(1,092)
Other comprehensive income (loss)	2,409	(2,991)	5,836	(2,452)
Accumulated Translation Adjustment [Member]
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	290	(52)	158	(684)
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	290	(52)	158	(684)
Less: Income tax expense (benefit)	(23)	(15)	(63)	(188)
Other comprehensive income (loss)	313	(37)	221	(496)
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(11)	14	(10)	21
Less: Reclassification adjustments included in net income	(4)	(23)	(8)	(47)
Total other comprehensive income (loss), before income tax expense (benefit)	(7)	37	(2)	68
Less: Income tax expense (benefit)	3	10	6	12
Other comprehensive income (loss)	$ (10)	$ 27	$ (8)	$ 56

EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital gains	$ 1,136	$ 278	$ 232	$ 1,716
Amortization of deferred acquisition costs	1,345	1,356	2,607	2,706
Policyholder benefits and losses incurred	6,872	7,100	13,259	13,651
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax	1,059	122	775	584
Income from continuing operations before income tax expense (benefit)	2,858	2,552	2,644	6,328
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)	1,059	122	775	584
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	25	46	100	55
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	25	46	100	55
Income from continuing operations before income tax expense (benefit)	25	46	100	55
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	1,038	99	683	576
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	1,074	112	661	624
Amortization of deferred acquisition costs	(36)	(30)	22	(65)
Policyholder benefits and losses incurred	0	17	0	17
Income from continuing operations before income tax expense (benefit)	1,038	99	683	576
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	(4)	(23)	(8)	(47)
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	(4)	(23)	(8)	(47)
Prior-Service Costs \| 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	5	11	9	23
Actuarial Gains (Losses) \| 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	$ (9)	$ (34)	$ (17)	$ (70)

EARNINGS PER SHARE (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator for EPS:
Income (Loss) from Continuing Operations	$ 1,934	$ 1,775	$ 1,778	$ 4,251
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	(9)	(9)	0
Net income (loss) attributable to AIG common shareholders from continuing operations	1,923	1,784	1,787	4,251
Income (loss) from discontinued operations, net of income tax expense	(10)	16	(57)	17
Net income (loss) attributable to AIG common shareholders	$ 1,913	$ 1,800	$ 1,730	$ 4,268
Denominator for EPS:
Weighted average shares outstanding - basic	1,113,587,927	1,329,157,366	1,135,068,193	1,347,452,833
Dilutive shares	26,458,046	36,233,065	28,021,555	28,873,138
Weighted average shares outstanding - diluted	1,140,045,973	1,365,390,431	1,163,089,748	1,376,325,971
Basic:
Income from continuing operations	$ 1.73	$ 1.34	$ 1.57	$ 3.16
Income (loss) from discontinued operations	(0.01)	0.01	(0.05)	0.01
Net income attributable to AIG	1.72	1.35	1.52	3.17
Diluted:
Income from continuing operations	1.69	1.31	1.54	3.09
Income (loss) from discontinued operations	(0.01)	0.01	(0.05)	0.01
Net Income attributable to AIG	$ 1.68	$ 1.32	$ 1.49	$ 3.1
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive	100,000	200,000	300,000	300,000

EMPLOYEE BENEFITS (Details - Pension and Postretirement Plans) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pensions
Components of net periodic benefit cost:
Service cost	$ 12	$ 61	$ 24	$ 124
Interest cost	50	61	101	122
Expected return on assets	(80)	(78)	(160)	(156)
Amortization of prior service (credit) cost	0	(8)	0	(17)
Amortization of net (gain) loss	8	35	16	70
Curtailment (gain) loss	(1)	(1)	(3)	(1)
Net periodic benefit cost	(11)	70	(22)	142
U.S. Pension Plans
Components of net periodic benefit cost:
Service cost	5	51	9	103
Interest cost	45	55	91	110
Expected return on assets	(74)	(72)	(147)	(144)
Amortization of prior service (credit) cost	0	(8)	0	(16)
Amortization of net (gain) loss	6	33	12	65
Curtailment (gain) loss	0	0	0	0
Net periodic benefit cost	(18)	59	(35)	118
Non U.S. Pension Plans
Components of net periodic benefit cost:
Service cost	7	10	15	21
Interest cost	5	6	10	12
Expected return on assets	(6)	(6)	(13)	(12)
Amortization of prior service (credit) cost	0	0	0	(1)
Amortization of net (gain) loss	2	2	4	5
Curtailment (gain) loss	(1)	(1)	(3)	(1)
Net periodic benefit cost	7	11	13	24
Postretirement Plans
Components of net periodic benefit cost:
Service cost	1	2	3	5
Interest cost	3	2	5	5
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	(3)	(2)	(5)	(5)
Amortization of net (gain) loss	0	0	0	0
Net periodic benefit cost	1	2	3	5
U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost	0	1	1	3
Interest cost	2	2	3	4
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	(3)	(2)	(5)	(5)
Amortization of net (gain) loss	0	0	0	0
Net periodic benefit cost	(1)	1	(1)	2
Non U.S. Postretirement Plans
Components of net periodic benefit cost:
Service cost	1	1	2	2
Interest cost	1	0	2	1
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	0	0	0	0
Amortization of net (gain) loss	0	0	0	0
Net periodic benefit cost	$ 2	$ 1	$ 4	$ 3

INCOME TAXES (Details - Income (loss) from continuing operations and income tax expense (benefit)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, pre-tax income (loss)
Income (loss) from continuing operations before income tax expense (benefit)	$ 2,858	$ 2,552	$ 2,644	$ 6,328
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, tax expense/benefit
Income tax expense (benefit)	$ 924	$ 777	$ 866	$ 2,077
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%	35.00%
Adjustments:
Amounts attributable to continuing operations (as a percent)	32.30%	30.40%	32.80%	32.80%
Accounting for Uncertainty in Income Taxes
Unrecognized tax benefits, excluding interest and penalties	$ 4,500		$ 4,500		$ 4,300
Unrecognized tax benefits, if recognized would not affect the effective tax rate	100		100		100
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate	4,400		4,400		4,200
Unrecognized tax benefits, interest and penalties accrued	1,200		1,200		$ 1,200
Unrecognized tax benefits, interest net of the federal benefit (expense) and penalties			$ 48	$ 15
Unrecognized tax benefits, period of reasonably possible change in balance			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.
Deferred tax asset valuation allowance allocated to other comprehensive income	350		$ 1,200
Deferred tax asset valuation allowance recognized	$ 35		$ 1

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Balance Sheets) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Assets:
Short-term investments	$ 12,334	$ 10,132
Other investments	338,333	328,222
Total investments	350,667	338,354
Cash	1,784	1,629	$ 1,937	$ 1,758
Other assets, including deferred income taxes	157,898	156,859
Total assets	510,349	496,842
Liabilities:
Insurance liabilities	278,518	271,645
Long-term Debt	33,329	29,249
Other liabilities, including intercompany balances	107,965	105,738
Total liabilities	419,812	406,632
Total AIG shareholders' equity	89,946	89,658
Non-redeemable noncontrolling interests	591	552
Total equity	90,537	90,210	104,642	107,272
Total liabilities and equity	510,349	496,842
AIG (As Guarantor)
Assets:
Short-term investments	3,727	4,042
Other investments	5,790	7,425
Total investments	9,517	11,467
Cash	12	34	91	26
Loans to subsidiaries	35,007	35,927
Investment in consolidated subsidiaries	58,001	51,151
Other assets, including deferred income taxes	24,455	23,299
Total assets	126,992	121,878
Liabilities:
Long-term Debt	22,208	19,777
Other liabilities, including intercompany balances	14,444	11,869
Loans from subsidiaries	394	574
Total liabilities	37,046	32,220
Total AIG shareholders' equity	89,946	89,658
Total equity	89,946	89,658
Total liabilities and equity	126,992	121,878
AIGLH
Assets:
Cash	6	116	4	91
Investment in consolidated subsidiaries	33,137	30,239
Other assets, including deferred income taxes	132	258
Total assets	33,275	30,613
Liabilities:
Long-term Debt	641	704
Other liabilities, including intercompany balances	65	201
Loans from subsidiaries	0	3
Total liabilities	706	908
Total AIG shareholders' equity	32,569	29,705
Total equity	32,569	29,705
Total liabilities and equity	33,275	30,613
Other Subsidiaries
Assets:
Short-term investments	12,769	9,637
Other investments	332,543	320,797
Total investments	345,312	330,434
Cash	1,766	1,479	$ 1,842	$ 1,641
Loans to subsidiaries	395	578
Other assets, including deferred income taxes	136,529	135,690
Total assets	484,002	468,181
Liabilities:
Insurance liabilities	278,518	271,645
Long-term Debt	10,480	8,768
Other liabilities, including intercompany balances	101,009	99,777
Loans from subsidiaries	35,008	35,928
Total liabilities	425,015	416,118
Total AIG shareholders' equity	58,396	51,511
Non-redeemable noncontrolling interests	591	552
Total equity	58,987	52,063
Total liabilities and equity	484,002	468,181
Reclassifications and Eliminations
Assets:
Short-term investments	(4,162)	(3,547)
Other investments	0
Total investments	(4,162)	(3,547)
Loans to subsidiaries	(35,402)	(36,505)
Investment in consolidated subsidiaries	(91,138)	(81,390)
Other assets, including deferred income taxes	(3,218)	(2,388)
Total assets	(133,920)	(123,830)
Liabilities:
Other liabilities, including intercompany balances	(7,553)	(6,109)
Loans from subsidiaries	(35,402)	(36,505)
Total liabilities	(42,955)	(42,614)
Total AIG shareholders' equity	(90,965)	(81,216)
Total equity	(90,965)	(81,216)
Total liabilities and equity	$ (133,920)	$ (123,830)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Income (Loss)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Equity in earnings of consolidated subsidiaries	$ 0	$ 0	$ 0	$ 0
Other income	14,724	15,699	26,503	31,674
Total revenues	14,724	15,699	26,503	31,674
Expenses:
Interest expense	320	316	626	656
Net losses on extinguishment of debt	7	342	90	410
Other expenses	11,539	12,489	23,143	24,280
Total benefits, losses and expenses	11,866	13,147	23,859	25,346
Income (loss) from continuing operations before income tax expense (benefit)	2,858	2,552	2,644	6,328
Income tax expense (benefit)	924	777	866	2,077
Income from continuing operations	1,934	1,775	1,778	4,251
Income (loss) from discontinued operations, net of income taxes	(10)	16	(57)	17
Net income (loss)	1,924	1,791	1,721	4,268
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	(9)	(9)	0
Net income (loss) attributable to AIG	1,913	1,800	1,730	4,268
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries	2,168	2,319	1,224	5,076
Other income	127	14	64	164
Total revenues	2,295	2,333	1,288	5,240
Expenses:
Interest expense	250	267	494	556
Net losses on extinguishment of debt	0	297	77	358
Other expenses	257	301	448	547
Total benefits, losses and expenses	507	865	1,019	1,461
Income (loss) from continuing operations before income tax expense (benefit)	1,788	1,468	269	3,779
Income tax expense (benefit)	(125)	(333)	(1,462)	(490)
Income from continuing operations	1,913	1,801	1,731	4,269
Income (loss) from discontinued operations, net of income taxes	0	(1)	(1)	(1)
Net income (loss)	1,913	1,800	1,730	4,268
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	1,913	1,800	1,730	4,268
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries	888	749	(795)	1,522
Other income	0	0	5	0
Total revenues	888	749	(790)	1,522
Expenses:
Interest expense	13	14	27	30
Net losses on extinguishment of debt	0	0	0	0
Other expenses	7	47	14	42
Total benefits, losses and expenses	20	61	41	72
Income (loss) from continuing operations before income tax expense (benefit)	868	688	(831)	1,450
Income tax expense (benefit)	(7)	(20)	(13)	(63)
Income from continuing operations	875	708	(818)	1,513
Income (loss) from discontinued operations, net of income taxes	0	0	0	0
Net income (loss)	875	708	(818)	1,513
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	875	708	(818)	1,513
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries	0	0	0	0
Other income	14,843	15,916	26,881	31,830
Total revenues	14,843	15,916	26,881	31,830
Expenses:
Interest expense	59	65	108	130
Net losses on extinguishment of debt	7	45	13	45
Other expenses	11,520	12,343	23,125	23,952
Total benefits, losses and expenses	11,586	12,453	23,246	24,127
Income (loss) from continuing operations before income tax expense (benefit)	3,257	3,463	3,635	7,703
Income tax expense (benefit)	1,056	1,129	2,341	2,630
Income from continuing operations	2,201	2,334	1,294	5,073
Income (loss) from discontinued operations, net of income taxes	(10)	17	(56)	18
Net income (loss)	2,191	2,351	1,238	5,091
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	(9)	(9)	0
Net income (loss) attributable to AIG	2,180	2,360	1,247	5,091
Reclassifications and Eliminations
Revenues:
Equity in earnings of consolidated subsidiaries	(3,056)	(3,068)	(429)	(6,598)
Other income	(246)	(231)	(447)	(320)
Total revenues	(3,302)	(3,299)	(876)	(6,918)
Expenses:
Interest expense	(2)	(30)	(3)	(60)
Net losses on extinguishment of debt	0	0	0	7
Other expenses	(245)	(202)	(444)	(261)
Total benefits, losses and expenses	(247)	(232)	(447)	(314)
Income (loss) from continuing operations before income tax expense (benefit)	(3,055)	(3,067)	(429)	(6,604)
Income tax expense (benefit)	0	1	0	0
Income from continuing operations	(3,055)	(3,068)	(429)	(6,604)
Income (loss) from discontinued operations, net of income taxes	0	0	0	0
Net income (loss)	(3,055)	(3,068)	(429)	(6,604)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	$ (3,055)	$ (3,068)	$ (429)	$ (6,604)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Comprehensive Income (Loss)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ 1,924	$ 1,791	$ 1,721	$ 4,268
Other Comprehensive Income (Loss)	2,734	(3,037)	5,722	(3,000)
Comprehensive income (loss)	4,658	(1,246)	7,443	1,268
Total comprehensive income (loss) attributable to noncontrolling interests	11	(9)	(9)	(3)
Comprehensive income (loss) attributable to AIG	4,647	(1,237)	7,452	1,271
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,913	1,800	1,730	4,268
Other Comprehensive Income (Loss)	2,734	(3,037)	5,722	(2,997)
Comprehensive income (loss)	4,647	(1,237)	7,452	1,271
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	4,647	(1,237)	7,452	1,271
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	875	708	(818)	1,513
Other Comprehensive Income (Loss)	7,734	3,582	7,260	4,490
Comprehensive income (loss)	8,609	4,290	6,442	6,003
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	8,609	4,290	6,442	6,003
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	2,191	2,351	1,238	5,091
Other Comprehensive Income (Loss)	(7,006)	53,694	48,548	52,633
Comprehensive income (loss)	(4,815)	56,045	49,786	57,724
Total comprehensive income (loss) attributable to noncontrolling interests	11	(9)	(9)	(3)
Comprehensive income (loss) attributable to AIG	(4,826)	56,054	49,795	57,727
Reclassifications and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(3,055)	(3,068)	(429)	(6,604)
Other Comprehensive Income (Loss)	(728)	(57,276)	(55,808)	(57,126)
Comprehensive income (loss)	(3,783)	(60,344)	(56,237)	(63,730)
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	$ (3,783)	$ (60,344)	$ (56,237)	$ (63,730)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ 571	$ 493
Cash flows from investing activities:
Sales of investments	34,787	39,006
Purchase of investments	(34,637)	(30,983)
Loans to subsidiaries - net	0	0
Contributions from (to) subsidiaries - net	0	0
Net change in restricted cash	(78)	1,462
Net change in short-term investments	(1,755)	(2,693)
Other, net	1,419	(1,506)
Net cash provided by investing activities	(264)	5,286
Cash flows from financing activities:
Issuance of long-term debt	6,688	2,774
Repayments of long-term debt	(2,919)	(3,701)
Issuance of Common Stock	0	0
Purchase of Common Stock	(6,248)	(3,743)
Intercompany loans - net		0
Cash dividends paid	(713)	(335)
Other, net	3,002	(561)
Net cash provided by (used in) financing activities	(190)	(5,566)
Effect of exchange rate changes on cash	38	(34)
Net increase (decrease) in cash	155	179
Cash at beginning of year	1,629	1,758
Reclassification to assets held for sale	0	0
Cash at end of year	1,784	1,937
Interest:
Third party	(650)	(760)
Intercompany	0	0
Taxes:
Income tax authorities	(117)	(338)
Intercompany	0	0
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	2,734	2,230
Cash flows from investing activities:
Sales of investments	1,944	4,703
Purchase of investments	(606)	(942)
Loans to subsidiaries - net	1,050	189
Contributions from (to) subsidiaries - net	880	0
Net change in restricted cash	0	0
Net change in short-term investments	(733)	(2,093)
Other, net	(298)	(65)
Net cash provided by investing activities	2,237	1,792
Cash flows from financing activities:
Issuance of long-term debt	3,832	2,342
Repayments of long-term debt	(1,421)	(2,016)
Issuance of Common Stock	0	0
Purchase of Common Stock	(6,248)	(3,743)
Intercompany loans - net	(180)	(130)
Cash dividends paid	(713)	(335)
Other, net	(263)	(75)
Net cash provided by (used in) financing activities	(4,993)	(3,957)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash	(22)	65
Cash at beginning of year	34	26
Cash at end of year	12	91
Interest:
Third party	(515)	(585)
Intercompany	0	0
Taxes:
Income tax authorities	(7)	(6)
Intercompany	629	1,249
Non-cash financing and investing activities:
Return of capital	1	0
Return of capital and dividend received in the form of other bonds securities	1,790	1,551
Other capital contributions - net	2,915	111
Consideration received from sale of shares	440	0
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	680	527
Cash flows from investing activities:
Sales of investments	0	0
Purchase of investments	0	0
Loans to subsidiaries - net	0	0
Contributions from (to) subsidiaries - net	0	0
Net change in restricted cash	0	0
Net change in short-term investments	0	0
Other, net	0	0
Net cash provided by investing activities	0	0
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	(63)	114
Issuance of Common Stock	0	0
Purchase of Common Stock	0	0
Intercompany loans - net	(3)	0
Cash dividends paid	(724)	(500)
Other, net	0	0
Net cash provided by (used in) financing activities	(790)	(614)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash	(110)	(87)
Cash at beginning of year	116	91
Reclassification to assets held for sale	0
Cash at end of year	6	4
Interest:
Third party	(27)	(32)
Intercompany	0	0
Taxes:
Income tax authorities	0	0
Intercompany	0	0
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	(1,022)	2,581
Cash flows from investing activities:
Sales of investments	39,689	36,970
Purchase of investments	(40,877)	(32,708)
Loans to subsidiaries - net	180	130
Contributions from (to) subsidiaries - net	0	0
Net change in restricted cash	(78)	1,462
Net change in short-term investments	(1,022)	(600)
Other, net	1,717	(1,441)
Net cash provided by investing activities	(391)	3,813
Cash flows from financing activities:
Issuance of long-term debt	2,856	432
Repayments of long-term debt	(1,435)	(1,571)
Proceeds from drawdown on the Department of the Treasury Commitment		0
Issuance of Common Stock	0	0
Purchase of Common Stock	0	0
Intercompany loans - net	(1,047)	(189)
Cash dividends paid	(1,097)	(4,345)
Other, net	2,385	(486)
Net cash provided by (used in) financing activities	1,662	(6,159)
Effect of exchange rate changes on cash	38	(34)
Net increase (decrease) in cash	287	201
Cash at beginning of year	1,479	1,641
Reclassification to assets held for sale	0	0
Cash at end of year	1,766	1,842
Interest:
Third party	(108)	(143)
Intercompany	0	0
Taxes:
Income tax authorities	(110)	(332)
Intercompany	(629)	(1,249)
Aer Cap
Non-cash financing and investing activities:
Consideration received from sale of shares		500
Reclassifications and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	(1,821)	(4,845)
Cash flows from investing activities:
Sales of investments	(6,846)	(2,667)
Purchase of investments	6,846	2,667
Loans to subsidiaries - net	(1,230)	(319)
Contributions from (to) subsidiaries - net	(880)	0
Net cash provided by investing activities	(2,110)	(319)
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	0
Proceeds from drawdown on the Department of the Treasury Commitment		0
Issuance of Common Stock	0	0
Intercompany loans - net	1,230	319
Cash dividends paid	1,821	4,845
Other, net	880	0
Net cash provided by (used in) financing activities	3,931	5,164
Interest:
Third party	0	0
Intercompany	0	0
Taxes:
Income tax authorities		0
Intercompany	$ 0	$ 0

SUBSEQUENT EVENTS (Details) - USD ($)		3 Months Ended		6 Months Ended
SUBSEQUENT EVENTS (Details) - USD ($)	Aug. 02, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Subsequent Event [Line Items]
Dividends declared per common share		$ 0.32	$ 0.125	$ 0.64	$ 0.25
Subsequent event
Subsequent Event [Line Items]
Dividends declared per common share	$ 0.32
Authorized amount of common Stock share repurchase	$ 3,000,000,000
Aggregate remaining authorization amount of common Stock share repurchase	$ 4,000,000,000
Date Dividends Declared	Aug. 02, 2016
Date Dividends To Be Paid	Sep. 29, 2016
Date of Shareholders of Record	Sep. 15, 2016

FAIR VALUE MEASUREMENTS (Details - Net realized and unrealized gains and losses included in income related to Level 3 assets and liabilities) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
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	$ 373	$ 796	$ 514	$ 1,635
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	598	(736)	1,443	(461)
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	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	598	(736)	1,443	(461)
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	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	(52)	(76)	5	(242)
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	19	0	0
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	0	1	4	(5)
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	(52)	(96)	1	(237)
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	(2)	13	0	(2)
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	(2)	13	0	(2)
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	262	414	562	730
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	291	311	589	622
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	(30)	10	(29)	1
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	1	93	2	107
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	124	318	(47)	431
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	26	23	(8)	41
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	32	(3)	32	3
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	66	298	(71)	387
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	0	2	0	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	0	0	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	0	2	0	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	0	0	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)
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	(1)	0	0	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	2	0	2
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	0	0	0	0
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	(12)	62	(1)	472
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	(1)	5	(3)	(2)
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	(19)	2	32	419
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	$ 8	$ 55	$ (30)	$ 55