Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2017	Oct. 30, 2017
Document and Entity Information
Entity Registrant Name	AMERICAN INTERNATIONAL GROUP INC
Entity Central Index Key	0000005272
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		898,959,371
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Fixed maturity securities:
Bonds available for sale, at fair value (amortized cost: 2017 - $224,143; 2016 - $232,241)	$ 237,771	$ 241,537
Other bond securities, at fair value (See Note 6)	12,653	13,998
Equity Securities:
Common and preferred stock available for sale, at fair value (cost: 2017 - $1,274; 2016 - $1,697)	1,707	2,078
Other common and preferred stock, at fair value (See Note 6)	538	482
Mortgage and other loans receivable, net of allowance (portion measured at fair value: 2017 - $5; 2016 - $11)	36,089	33,240
Other invested assets (portion measured at fair value: 2017 - $6,503; 2016 - $6,946)	22,590	24,538
Short-term investments (portion measured at fair value: 2017 - $2,603; 2016 - $3,341)	9,775	12,302
Total investments	321,123	328,175
Cash	2,433	1,868
Accrued investment income	2,416	2,495
Premiums and other receivables, net of allowance	11,156	10,465
Reinsurance assets, net of allowance	34,429	21,901
Deferred income taxes	20,954	21,332
Deferred policy acquisition costs	10,938	11,042
Other assets, including restricted cash of $219 in 2017 and $193 in 2016 (portion measured at fair value: 2017 - $900; 2016 - $1,809)	10,324	10,815
Separate account assets, at fair value	89,300	82,972
Assets held for sale	0	7,199
Total assets	503,073	498,264
Liabilities:
Liability for unpaid losses and loss adjustment expenses	80,087	77,077
Unearned premiums	20,135	19,634
Future policy benefits for life and accident and health insurance contracts	44,055	42,204
Policyholder contract deposits (portion measured at fair value: 2017 - $3,988; 2016 - $3,058)	134,514	132,216
Other policyholder funds (portion measured at fair value: 2017 - $0; 2016 - $5)	3,678	3,989
Other liabilities (portion measured at fair value: 2017 - $1,220; 2016 - $2,016)	27,253	26,296
Long-term debt (portion measured at fair value: 2017 - $2,998; 2016 - $3,428)	31,039	30,912
Separate account liabilities	89,300	82,972
Liabilities held for sale	0	6,106
Total liabilities	430,061	421,406
Contingencies, commitments and guarantees (see Note 11)
AIG shareholders' equity:
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2017 - 1,906,671,492 and 2016 - 1,906,671,492	4,766	4,766
Treasury stock, at cost; 2017 - 1,007,791,405 shares; 2016 - 911,335,651 shares of common stock	(47,602)	(41,471)
Additional paid-in capital	80,976	81,064
Retained earnings	28,389	28,711
Accumulated other comprehensive income (loss)	5,939	3,230
Total AIG shareholders' equity	72,468	76,300
Non-redeemable noncontrolling interests	544	558
Total equity	73,012	76,858
Total liabilities and equity	$ 503,073	$ 498,264

CONSOLIDATED BALANCE SHEETS (Parenthetical - assets and liabilities) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Assets:
Bonds available for sale, amortized cost	$ 224,143	$ 232,241
Common and preferred stock available for sale, cost	1,274	1,697
Mortgage and other loans receivable, portion measured at fair value	5	11
Other invested assets, portion measured at fair value	6,503	6,946
Short-term investments, portion measured at fair value	2,603	3,341
Other assets, restricted cash	219	193
Other assets, portion measured at fair value	900	1,809
Liabilities:
Policyholder contract deposits, portion measured at fair value	3,988	3,058
Other policyholder funds, portion measured at fair value	0	5
Other liabilities, portion measured at fair value	1,220	2,016
Long-term debt, portion measured at fair value	$ 2,998	$ 3,428

CONSOLIDATED BALANCE SHEETS (Parenthetical - equity) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
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	1,007,791,405	911,335,651

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Premiums	$ 8,063	$ 8,581	$ 23,459	$ 26,138
Policy fees	728	646	2,177	2,029
Net investment income	3,416	3,783	10,715	10,479
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities	(66)	(58)	(138)	(332)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income	(8)	(14)	(57)	(36)
Net other-than-temporary impairments on available for sale securities recognized in net income (loss)	(74)	(72)	(195)	(368)
Other realized capital losses	(848)	(693)	(911)	(461)
Total net realized capital losses	(922)	(765)	(1,106)	(829)
Other income	466	609	1,640	1,540
Total revenues	11,751	12,854	36,885	39,357
Benefits, losses and expenses:
Policyholder benefits and losses incurred	10,322	7,489	22,653	20,748
Interest credited to policyholder account balances	867	887	2,683	2,798
Amortization of deferred policy acquisition costs	912	1,018	3,135	3,625
General operating and other expenses	2,149	2,536	6,774	8,125
Interest expense	290	329	880	955
(Gain) loss on extinguishment of debt	1	(14)	(4)	76
Net (gain) loss on sale of divested businesses	13	(128)	173	(351)
Total benefits, losses and expenses	14,554	12,117	36,294	35,976
Income (loss) from continuing operations before income tax expense (benefit)	(2,803)	737	591	3,381
Income tax expense (benefit):
Income tax expense (benefit)	(1,091)	304	(18)	1,170
Income (loss) from continuing operations	(1,712)	433	609	2,211
Income (loss) from discontinued operations, net of income tax expense	(1)	3	7	(54)
Net income (loss)	(1,713)	436	616	2,157
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	26	(26)	40	(35)
Net income (loss) attributable to AIG	$ (1,739)	$ 462	$ 576	$ 2,192
Basic:
Income (loss) from continuing operations	$ (1.91)	$ 0.43	$ 0.6	$ 2.02
Income (loss) from discontinued operations	0	0	0.01	(0.05)
Net income (loss) attributable to AIG	(1.91)	0.43	0.61	1.97
Diluted:
Income (loss) from continuing operations	(1.91)	0.42	0.59	1.97
Income (loss) from discontinued operations	0	0	0.01	(0.05)
Net income (loss) attributable to AIG	$ (1.91)	$ 0.42	$ 0.6	$ 1.92
Weighted average shares outstanding:
Basic	908,667,044	1,071,295,892	938,130,832	1,113,650,878
Diluted	908,667,044	1,102,400,770	961,295,946	1,142,700,207
Dividends declared per common share	$ 0.32	$ 0.32	$ 0.96	$ 0.96

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ (1,713)	$ 436	$ 616	$ 2,157
Other comprehensive income (loss), net of tax
Change in unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken	97	217	330	(110)
Change in unrealized appreciation of all other investments	492	466	1,840	6,302
Change in foreign currency translation adjustments	325	111	447	332
Change in retirement plan liabilities adjustment	63	4	92	(4)
Other comprehensive income	977	798	2,709	6,520
Comprehensive income (loss)	(736)	1,234	3,325	8,677
Comprehensive income (loss) attributable to noncontrolling interests	26	(26)	40	(35)
Comprehensive income (loss) attributable to AIG	$ (762)	$ 1,260	$ 3,285	$ 8,712

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, 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	(87)	(87)		86	(173)
Purchase of common stock	(8,506)	(8,506)	0	(8,506)
Net income (loss) attributable to AIG or noncontrolling interests	2,157	2,192	0	0	0	2,192	0	(35)
Dividends	(1,051)	(1,051)				(1,051)
Other Comprehensive Income (Loss)	6,520	6,520	0	0	0	0	6,520	0
Current and deferred income taxes	19	19			19
Net increase due to acquisitions and consolidations	9							9
Contributions from noncontrolling interests	4	0	0	0	0	0	0	4
Distributions to noncontrolling interests	(31)	0	0	0	0	0	0	(31)
Other	(79)	(82)	0	0	(75)	(7)	0	3
Balance at Sep. 30, 2016	89,165	88,663	4,766	(38,518)	81,281	32,077	9,057	502
Balance at Dec. 31, 2016	76,858	76,300	4,766	(41,471)	81,064	28,711	3,230	558
Increase (Decrease) in Stockholders' Equity
Common stock issued under stock plans	(164)	(164)		140	(304)
Purchase of common stock	(6,275)	(6,275)	0	(6,275)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	616	576	0	0	0	576	0	40
Dividends	(884)	(884)	0	0	0	(884)	0	0
Other Comprehensive Income (Loss)	2,709	2,709	0	0	0	0	2,709	0
Current and deferred income taxes	(4)	(4)			(4)
Net increase due to acquisitions and consolidations	78							78
Contributions from noncontrolling interests	13	0	0	0	0	0	0	13
Distributions to noncontrolling interests	(131)	0	0	0	0	0	0	(131)
Other	196	210	0	4	220	(14)	0	(14)
Balance at Sep. 30, 2017	$ 73,012	$ 72,468	$ 4,766	$ (47,602)	$ 80,976	$ 28,389	$ 5,939	$ 544

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)
Cash flows from operating activities:
Net income (loss)	$ 616	$ 2,157
(Income) loss from discontinued operations	(7)	54
Noncash revenues, expenses, gains and losses included in income:
Net gains on sales of securities available for sale and other assets	(404)	(1,125)
Net (gains) losses on sales of divested businesses	173	(351)
(Gains) losses on extinguishment of debt	(4)	76
Unrealized (gains) losses in earnings - net	251	1,396
Equity in income from equity method investments, net of dividends or distributions	(338)	50
Depreciation and other amortization	2,806	2,814
Impairments of assets	669	872
Changes in operating assets and liabilities:
Insurance reserves	4,448	700
Premiums and other receivables and payables - net	300	347
Reinsurance assets and funds held under reinsurance treaties	(12,705)	(1,234)
Capitalization of deferred policy acquisition costs	(3,593)	(3,598)
Current and deferred income taxes - net	(508)	962
Other, net	(899)	(1,367)
Total adjustments	(9,804)	(458)
Net cash provided by (used in) operating activities	(9,195)	1,753
Sales or distribution of:
Available for sale securities	27,733	22,077
Other securities	2,647	3,367
Other invested assets	4,396	5,255
Divested businesses, net	605
Maturities of fixed maturity securities available for sale	22,126	18,210
Principal payments received on and sales of mortgage and other loans receivable	3,932	4,435
Purchases of:
Available for sale securities	(38,717)	(42,572)
Other securities	(355)	(557)
Other invested assets	(2,359)	(2,472)
Mortgage and other loans receivable	(6,517)	(7,784)
Net change in restricted cash	(23)	(49)
Net change in short-term investments	2,815	(855)
Other, net	(1,509)	1,270
Net cash provided by (used in) investing activities	14,774	325
Proceeds from (payments for)
Policyholder contract deposits	13,164	13,584
Policyholder contract withdrawals	(11,363)	(9,986)
Issuance of long-term debt	2,405	11,430
Repayments of long-term debt	(2,751)	(7,683)
Issuance of Common Stock	0	0
Purchase of Common Stock	(6,275)	(8,506)
Dividends paid	(884)	(1,051)
Other, net	578	915
Net cash provided by (used in) financing activities	(5,126)	(1,297)
Effect of exchange rate changes on cash	(21)	88
Net increase (decrease) in cash	432	869
Cash at beginning of year	1,868	1,629
Change in cash of businesses held for sale	133
Cash at end of Period	$ 2,433	$ 2,498

Supplementary Disclosure of Consolidated Cash Flow Information - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash paid during the period for:
Interest	$ 1,046	$ 1,009
Taxes	490	208
Non-cash investing/financing activities:
Interest credited to policyholder contract deposits included in financing activities	$ 2,494	$ 2,691

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Sep. 30, 2017
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 80 countries and jurisdictions. AIG companies serve commercial 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, 2016 (the 2016 Annual Report). The condensed consolidated financial information as of December 31, 2016 included herein has been derived from the audited Consolidated Financial Statements in the 2016 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 September 30, 2017 and prior to the issuance of these Condensed Consolidated Financial Statements. 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 (loss reserves); 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 policy 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	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. Summary of Significant Accounting Policies Accounting Standards Adopted During 2017 Derivative Contract Novations In March 2016, the Financial Accounting Standards Board (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. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not 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. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not 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. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Interest Held through Related Parties that are under Common Control In October 2016, the FASB issued an accounting standard that amends the consolidation analysis for a reporting entity that is the single decision maker of a variable interest entity (VIE). The new guidance will require the decision maker’s evaluation of its interests held through related parties that are under common control on a proportionate basis (rather than in their entirety) when determining whether it is the primary beneficiary of that VIE. The amendment does not change the characteristics of a primary beneficiary. We adopted the standard on its required effective date of January 1, 2017. 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. We have developed an implementation plan to adopt this standard using the modified retrospective approach on its required effective date of January 1, 2018. Our analysis of revenues indicates that substantially all of our revenues are from sources excluded from the scope of the standard. For those revenue sources within the scope of the standard, we do not expect material changes in the timing or measurement of revenues based upon our current interpretation of the guidance. We continue to refine our assessment of the impacts this standard is expected to have on our applicable revenue sources, financial statements and related disclosures. However, as substantially all of our revenue sources are excluded from the scope of the standard, we do not expect the adoption of the standard to have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued an accounting standard that will require equity investments that do not follow the equity method of accounting or are not subject to consolidation to be measured at fair value with changes in fair value recognized in earnings, while financial liabilities for which fair value option accounting has been elected, changes in fair value due to instrument-specific credit risk will be presented separately in other comprehensive income. The standard allows the election to record equity investments without readily determinable fair values at cost, less impairment, adjusted for subsequent observable price changes with changes in the carrying value of the equity investments recorded in earnings. The standard also updates certain fair value disclosure requirements for financial instruments carried at amortized cost. We will adopt this standard on its effective date of January 1, 2018. Based on our initial review, substantially all of our assets and liabilities are not within the scope of the standard. We do not expect the adoption of the standard to have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. 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. We plan to adopt the standard on its effective date of January 1, 2019 using a modified retrospective approach upon adoption. We are currently quantifying the expected recognition on our balance sheet for a right to use asset and a lease liability as required by the standard. We do not expect the impact of the standard to have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Financial Instruments - Credit Losses In June 2016, the FASB issued an accounting standard that will change how entities account for credit losses for most financial assets, trade receivables and reinsurance receivables. The standard will replace the existing incurred loss impairment model with a new “current expected credit loss model” that generally will result in earlier recognition of credit losses. The standard will apply to financial assets subject to credit losses, including loans measured at amortized cost, reinsurance receivables and certain off-balance sheet credit exposures. Additionally, the impairment of available-for-sale debt securities, including purchased credit deteriorated securities, are subject to the new guidance and 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 on January 1, 2020, with early adoption permitted on January 1, 2019. We are continuing to develop our implementation plan to adopt the standard and are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures. While we expect an increase in our allowances for credit losses for the financial instruments within scope of the standard, given the objective of the new standard, the amount of any change will be dependent on our portfolios’ composition and quality at the adoption date as well as economic conditions and forecasts at that time. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued an accounting standard that addresses diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments provide clarity on the treatment of eight specifically defined types of cash inflows and outflows. The standard is effective on January 1, 2018 using a retrospective transition method to each period presented or prospectively if adoption of an issue is impracticable. We continue to refine our analysis of certain cash flow types and intend to adopt this standard on its required effective date of January 1, 2018. The standard addresses presentation in the statement of cash flows only and will have no effect on our reported consolidated financial condition, results of operations or required disclosures. Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issued an accounting standard that will require an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, rather than when the asset is sold to a third party. We plan to adopt the standard on its effective date of January 1, 2018 using a modified retrospective approach upon adoption. We are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures. Restricted Cash In November 2016, the FASB issued an accounting standard that provides guidance on the presentation of restricted cash in the Statement of Cash Flows. Entities will be required to explain the changes during a reporting period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents in the statement of cash flows. We plan to adopt the standard retrospectively on its effective date of January 1, 2018. The standard addresses presentation of restricted cash in the Statement of Cash Flows only and will have no effect on our reported consolidated financial condition, results of operations or required disclosures. Clarifying the Definition of a Business In January 2017, the FASB issued an accounting standard that changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The new standard will require an entity to evaluate if substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar assets; if so, the set of transferred assets and activities is not a business. At a minimum, a set must include an input and a substantive process that together significantly contribute to the ability to create output. The standard is effective on January 1, 2018, with early adoption permitted. We are evaluating the timing of adoption and are assessing the impact of the standard on our reported consolidated financial condition, results of operations and cash flows. Because the standard requires prospective adoption, the impact is dependent on future acquisitions, dispositions and those entities that we consolidate due to obtaining a controlling financial interest. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued an accounting standard that eliminates the requirement to calculate the implied fair value of goodwill, through a hypothetical purchase price allocation, to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value not to exceed the total amount of goodwill allocated to that reporting unit. An entity should also consider income tax effects from tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The standard is effective on January 1, 2020, with early adoption permitted on testing dates after January 1, 2017. We are evaluating the timing of our adoption. The impact of the standard will be dependent on the market conditions of the reporting units at the time of adoption. Gains and Losses from the Derecognition of Nonfinancial Assets In February 2017, the FASB issued an accounting standard that clarifies the scope and application of Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets, to the sale or transfer of nonfinancial assets and in substance nonfinancial assets to noncustomers, including partial sales. The standard clarifies that a parent transferring its ownership interest in a consolidated subsidiary is within the scope of the accounting standard if substantially all of the fair value of the assets within that subsidiary are nonfinancial assets. The standard also clarifies that the derecognition of all businesses and nonprofit activities should be accounted for in accordance with the derecognition and deconsolidation guidance. The standard also eliminates the exception in the financial asset guidance for transfers of investments (including equity method investments) in real estate entities. An entity is required to apply the amendments in this update at the same time that it applies the amendments in revenues from contracts with customers. The standard is effective on January 1, 2018 and may be applied retrospectively to each period presented or through a cumulative effect adjustment to retained earnings at the date of adoption (modified retrospective approach). We are evaluating the timing of adoption and are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures. Improving the Presentation of Net Periodic Pension and Postretirement Benefit Cost In March 2017, the FASB issued an accounting standard that requires entities to report the service cost component of net periodic pension and postretirement benefit costs in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net periodic benefit costs are required to be separately presented in the income statement. The amendments also allow only the service cost component to be eligible for capitalization when applicable. We will adopt this standard on its effective date of January 1, 2018 by retrospectively presenting the service cost and other components, and prospectively capitalizing the service cost component. The standard addresses presentation of net periodic benefit costs in the income statement and will have no effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB issued an accounting standard that shortens the amortization period for certain callable debt securities held at a premium by requiring the premium to be amortized to the earliest call date. The standard does not require an accounting change for securities held at a discount, which continue to be amortized to maturity. We plan to adopt the standard retrospectively on its effective date, January 1, 2019. We do not expect the standard to have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Modification of Share-Based Payment Awards In May 2017, the FASB issued an accounting standard that provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. We will prospectively adopt this standard on its effective date of January 1, 2018 and do not expect the standard to have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Derivatives and Hedging In August 2017, the FASB issued an accounting standard that improves and expands hedge accounting for both financial and commodity risks. The provisions of the amendment are intended to better align the accounting with an entity’s risk management activities, enhance the transparency on how the economic results are presented in the financial statements and the footnote, and simplify the application of hedge accounting treatment. The standard is effective on January 1, 2019, with early adoption permitted. We are evaluating the timing of adoption and are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures.

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2017

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.

We report our results of operations as follows:

Commercial Insurance business is presented as two operating segments:

- Liability and Financial Lines

- Property and Special Risks

Consumer Insurance business is presented as four operating segments:

- Individual Retirement

- Group Retirement

- Life Insurance

- Personal Insurance

The Other Operations category consists of:

- Institutional Markets

- Income from assets held by AIG Parent and other corporate subsidiaries

- General operating expenses not attributable to specific reporting segments

- Interest expense

- United Guaranty Corporation (United Guaranty) — The sale of this business was completed on December 31, 2016

- AIG Fuji Life Insurance Company, Ltd. (Fuji Life) — The sale of this business was completed on April 30, 2017

The Legacy Portfolio segment consists of:

- Legacy Property and Casualty Run-Off Insurance Lines

- Legacy Life Insurance Run-Off Lines

- Legacy Investments

We evaluate segment performance based on operating revenues and pre-tax operating income (loss). Operating revenues and pre-tax operating income (loss) are derived by excluding certain items from total revenues and net income (loss) attributable to AIG, respectively. See the table below for the items excluded from operating revenues and pre-tax operating income (loss).

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

Three Months Ended September 30,	2017				2016
				Pre-Tax				Pre-Tax
		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
Commercial Insurance
Liability and Financial Lines	$	2,848	$	(257)	$	3,379	$	948
Property and Special Risks		1,744		(2,605)		2,037		(263)
Total Commercial Insurance		4,592		(2,862)		5,416		685
Consumer Insurance
Individual Retirement		1,343		718		1,380		920
Group Retirement		702		249		717		214
Life Insurance		1,000		112		921		(54)
Personal Insurance		2,909		(71)		2,991		148
Total Consumer Insurance		5,954		1,008		6,009		1,228
Other Operations		1,218		(287)		1,003		(164)
Legacy Portfolio		1,013		286		1,312		(99)
AIG Consolidation and elimination		(119)		(1)		(144)		(6)
Total AIG Consolidated revenues and pre-tax operating income		12,658		(1,856)		13,596		1,644
Reconciling Items from revenues and pre-tax operating income to
revenues and pre-tax income (loss):
Changes in fair value of securities used to hedge guaranteed
living benefits		26		26		17		17
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		84		-		(67)
(Unfavorable) favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		7		-		3
Gain (Loss) on extinguishment of debt		-		(1)		-		14
Net realized capital losses		(922)		(922)		(765)		(765)
Gain (loss) from divested businesses		-		(13)		-		128
Non-operating litigation reserves and settlements		1		-		1		5
Net loss reserve discount (benefit) charge		-		(48)		-		(32)
Pension expense related to a one-time lump sum payment to former employees		-		(49)		-		-
Restructuring and other costs		-		(31)		-		(210)
Other		(12)		-		5		-
Revenues and Pre-tax income (loss)	$	11,751	$	(2,803)	$	12,854	$	737

Nine Months Ended September 30,	2017				2016
				Pre-Tax				Pre-Tax
		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
Commercial Insurance
Liability and Financial Lines	$	8,443	$	903	$	10,118	$	2,332
Property and Special Risks		5,365		(2,200)		6,140		(44)
Total Commercial Insurance		13,808		(1,297)		16,258		2,288

Consumer Insurance
Individual Retirement		4,099		1,815		4,382		1,727
Group Retirement		2,116		758		2,053		670
Life Insurance		3,043		272		2,862		(27)
Personal Insurance		8,618		471		8,735		510
Total Consumer Insurance		17,876		3,316		18,032		2,880
Other Operations		3,207		(835)		3,015		(565)
Legacy Portfolio		3,235		1,059		3,003		(94)
AIG Consolidation and elimination		(237)		75		(406)		-
Total AIG Consolidated revenues and pre-tax operating income		37,889		2,318		39,902		4,509
Reconciling Items from revenues and pre-tax operating income to
revenues and pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		117		117		270		270
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		195		-		(91)
(Unfavorable) favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		(258)		-		15
Gain (Loss) on extinguishment of debt		-		4		-		(76)
Net realized capital losses		(1,106)		(1,106)		(829)		(829)
Gain (loss) from divested businesses		-		(173)		-		351
Non-operating litigation reserves and settlements		17		86		42		43
Net loss reserve discount (benefit) charge		-		(283)		-		(323)
Pension expense related to a one-time lump sum payment to former employees		-		(50)		-		-
Restructuring and other costs		-		(259)		-		(488)
Other		(32)		-		(28)		-
Revenues and Pre-tax income	$	36,885	$	591	$	39,357	$	3,381

HELD-FOR-SALE CLASSIFICATION

9 Months Ended

Sep. 30, 2017

HELD-FOR-SALE CLASSIFICATION

HELD-FOR-SALE CLASSIFICATION

4. Held-For-Sale Classification

Held-For-Sale Classification

We report a business as held-for-sale when management has approved the sale or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the next 12 months and certain other specified criteria are met. A business classified as held-for-sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized.

Assets and liabilities related to the businesses classified as held-for-sale are separately reported in our Consolidated Balance Sheets beginning in the period in which the business is classified as held-for-sale.

Fuji Life and AIG United Guaranty Insurance (Asia) Limited, both previously classified as held-for-sale, were sold on April 30, 2017 and July 1, 2017, respectively. At September 30, 2017, we had no businesses classified as held-for-sale.

On October 18, 2016, we entered into agreements to sell certain insurance operations to Fairfax Financial Holdings Limited (Fairfax). The agreements include the sale of our subsidiary operations in Argentina, Chile, Colombia, Uruguay, Venezuela and Turkey. Fairfax will also acquire renewal rights for the portfolios of local business written by our operations in Bulgaria, the Czech Republic, Hungary, Poland, Romania and Slovakia, and assume certain of our operating assets and employees. Total cash consideration to us is expected to be approximately $234 million. The transaction is closing on a country-by-country basis as the regulatory approvals are obtained. In the second quarter of 2017, the sale of operations in Turkey as well as the renewal rights in Bulgaria, the Czech Republic, Hungary, Poland and Slovakia were completed, which resulted in total cash proceeds of $48 million. In the third quarter of 2017, the sale of the operations in Colombia, Chile and Argentina were completed, which resulted in cash proceeds of $168 million. Substantially all of the operations and renewal rights that we agreed to sell Fairfax were sold at September 30, 2017.

The following table summarizes the components of assets and liabilities held-for-sale on the Condensed Consolidated Balance Sheets at December 31, 2016*:

	December 31,
(in millions)		2016
Assets:
Fixed maturity securities	$	6,045
Equity securities		149
Mortgage and other loans receivable, net		137
Other invested assets		2
Short-term investments		130
Cash		133
Accrued investment income		21
Premiums and other receivables, net of allowance		351
Reinsurance assets, net of allowance		8
Deferred policy acquisition costs		471
Other assets		273
Assets of businesses held for sale		7,720
Less: Loss Accrual		(521)
Total assets held for sale	$	7,199
Liabilities:
Liability for unpaid losses and loss adjustment expenses	$	402
Unearned premiums		297
Future policy benefits for life and accident and health insurance contracts		4,579
Other policyholder funds		378
Other liabilities		450
Total liabilities held for sale	$	6,106

* Excludes net intercompany assets of $384 million at December 31, 2016, that are eliminated in consolidation.

FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2017

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

5. Fair Value Measurements

Fair Value Measurements on a Recurring Basis

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

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

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

Assets and Liabilities Measured at Fair Value on a Recurring Basis

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

September 30, 2017							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	$	2,383	$	-	$	-	$	-	$	2,384
Obligations of states, municipalities and political subdivisions		-		16,460		2,371		-		-		18,831
Non-U.S. governments		56		15,526		11		-		-		15,593
Corporate debt		-		132,475		1,210		-		-		133,685
RMBS		-		21,095		16,414		-		-		37,509
CMBS		-		12,853		665		-		-		13,518
CDO/ABS		-		7,837		8,414		-		-		16,251
Total bonds available for sale		57		208,629		29,085		-		-		237,771
Other bond securities:
U.S. government and government sponsored entities		33		2,796		-		-		-		2,829
Non-U.S. governments		-		55		-		-		-		55
Corporate debt		-		1,844		18		-		-		1,862
RMBS		-		426		1,443		-		-		1,869
CMBS		-		491		65		-		-		556
CDO/ABS		-		648		4,834		-		-		5,482
Total other bond securities		33		6,260		6,360		-		-		12,653
Equity securities available for sale:
Common stock		1,051		-		5		-		-		1,056
Preferred stock		18		559		-		-		-		577
Mutual funds		74		-		-		-		-		74
Total equity securities available for sale		1,143		559		5		-		-		1,707
Other equity securities		538		-		-		-		-		538
Mortgage and other loans receivable		-		-		5		-		-		5
Other invested assets^(a)		-		1		259		-		-		260
Derivative assets:
Interest rate contracts		2		2,252		-		-		-		2,254
Foreign exchange contracts		-		867		-		-		-		867
Equity contracts		191		209		69		-		-		469
Credit contracts		-		-		1		-		-		1
Other contracts		-		2		21		-		-		23
Counterparty netting and cash collateral		-		-		-		(1,390)		(1,324)		(2,714)
Total derivative assets		193		3,330		91		(1,390)		(1,324)		900
Short-term investments		2,247		356		-		-		-		2,603
Separate account assets		84,239		5,061		-		-		-		89,300
Total	$	88,450	$	224,196	$	35,805	$	(1,390)	$	(1,324)	$	345,737
Liabilities:
Policyholder contract deposits	$	-	$	14	$	3,974	$	-	$	-	$	3,988
Other policyholder funds		-		-		-		-		-		-
Derivative liabilities:
Interest rate contracts		-		2,228		26		-		-		2,254
Foreign exchange contracts		-		1,298		3		-		-		1,301
Equity contracts		56		3		-		-		-		59
Credit contracts		-		4		274		-		-		278
Other contracts		-		-		5		-		-		5
Counterparty netting and cash collateral		-		-		-		(1,390)		(1,395)		(2,785)
Total derivative liabilities		56		3,533		308		(1,390)		(1,395)		1,112
Long-term debt		-		2,995		3		-		-		2,998
Other liabilities		75		33		-		-		-		108
Total	$	131	$	6,575	$	4,285	$	(1,390)	$	(1,395)	$	8,206

December 31, 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	$	63	$	1,929	$	-	$	-	$	-	$	1,992
Obligations of states, municipalities and political subdivisions		-		22,732		2,040		-		-		24,772
Non-U.S. governments		52		14,466		17		-		-		14,535
Corporate debt		-		131,047		1,133		-		-		132,180
RMBS		-		20,468		16,906		-		-		37,374
CMBS		-		12,231		2,040		-		-		14,271
CDO/ABS		-		8,578		7,835		-		-		16,413
Total bonds available for sale		115		211,451		29,971		-		-		241,537
Other bond securities:
U.S. government and government sponsored entities		-		2,939		-		-		-		2,939
Non-U.S. governments		-		51		-		-		-		51
Corporate debt		-		1,755		17		-		-		1,772
RMBS		-		420		1,605		-		-		2,025
CMBS		-		448		155		-		-		603
CDO/ABS		-		905		5,703		-		-		6,608
Total other bond securities		-		6,518		7,480		-		-		13,998
Equity securities available for sale:
Common stock		1,056		9		-		-		-		1,065
Preferred stock		752		-		-		-		-		752
Mutual funds		260		1		-		-		-		261
Total equity securities available for sale		2,068		10		-		-		-		2,078
Other equity securities		482		-		-		-		-		482
Mortgage and other loans receivable		-		-		11		-		-		11
Other invested assets^(a)		-		1		204		-		-		205
Derivative assets:
Interest rate contracts		-		2,328		-		-		-		2,328
Foreign exchange contracts		-		1,320		-		-		-		1,320
Equity contracts		188		59		58		-		-		305
Credit contracts		-		-		2		-		-		2
Other contracts		-		6		16		-		-		22
Counterparty netting and cash collateral		-		-		-		(1,265)		(903)		(2,168)
Total derivative assets		188		3,713		76		(1,265)		(903)		1,809
Short-term investments		2,660		681		-		-		-		3,341
Separate account assets		77,318		5,654		-		-		-		82,972
Total	$	82,831	$	228,028	$	37,742	$	(1,265)	$	(903)	$	346,433
Liabilities:
Policyholder contract deposits	$	-	$	25	$	3,033	$	-	$	-	$	3,058
Other policyholder funds		5		-		-		-		-		5
Derivative liabilities:
Interest rate contracts		-		3,039		38		-		-		3,077
Foreign exchange contracts		-		1,358		11		-		-		1,369
Equity contracts		12		7		-		-		-		19
Credit contracts		-		-		331		-		-		331
Other contracts		-		1		5		-		-		6
Counterparty netting and cash collateral		-		-		-		(1,265)		(1,521)		(2,786)
Total derivative liabilities		12		4,405		385		(1,265)		(1,521)		2,016
Long-term debt		-		3,357		71		-		-		3,428
Total	$	17	$	7,787	$	3,489	$	(1,265)	$	(1,521)	$	8,507

(a) Excludes investments that are measured at fair value using the net asset value (NAV) per share (or its equivalent), which totaled $6.2 billion and $6.7 billion as of September 30, 2017 and December 31, 2016, 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.

We had no material transfers of preferred stock or securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2 during the three-month period ended September 30, 2017. During the three- and nine-month periods ended September 30, 2017, we transferred $300 million and $352 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 nine-month period ended September 30, 2017, we transferred $113 million of securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2. Additionally, we transferred $126 million of preferred stock from Level 1 to Level 2 during the nine-month period ended September 30, 2017. We had no material transfers from Level 2 to Level 1 during the three- and nine-month periods ended September 30, 2017.

During the three- and nine-month periods ended September 30, 2016, we transferred $635 million and $946 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 nine-month periods ended September 30, 2016, we transferred $18 million and $34 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 nine-month periods ended September 30, 2016.

Changes in Level 3 Recurring Fair Value Measurements

The following tables present changes during the three- and nine-month periods ended September 30, 2017 and 2016 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 September 30, 2017 and 2016:

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair Value	Gains (Losses)			Other		Sales,		Gross		Gross		to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Three Months Ended September 30, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,285	$	2	$	38	$	52	$	-	$	(6)	$	-	$	2,371	$	-
Non-U.S. governments		12		(5)		4		-		-		-		-		11		-
Corporate debt		932		5		(2)		(53)		449		(121)		-		1,210		-
RMBS		16,393		253		495		(731)		11		(7)		-		16,414		-
CMBS		735		2		5		(77)		-		-		-		665		-
CDO/ABS		8,605		8		(12)		(166)		-		(21)		-		8,414		-
Total bonds available for sale		28,962		265		528		(975)		460		(155)		-		29,085		-
Other bond securities:
Corporate debt		28		1		-		-		-		(11)		-		18		-
RMBS		1,510		63		-		(130)		-		-		-		1,443		49
CMBS		66		2		-		42		-		(45)		-		65		3
CDO/ABS		5,234		111		-		(505)		-		(6)		-		4,834		(34)
Total other bond securities		6,838		177		-		(593)		-		(62)		-		6,360		18
Equity securities available for sale:
Common stock		7		-		-		(2)		-		-		-		5		-
Total equity securities available for sale		7		-		-		(2)		-		-		-		5		-
Other equity securities		-		-		-		-		-		-		-		-		-
Mortgage and other loans receivable		5		-		-		-		-		-		-		5		-
Other invested assets		225		-		(2)		36		-		-		-		259		(3)
Total	$	36,037	$	442	$	526	$	(1,534)	$	460	$	(217)	$	-	$	35,714	$	15

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair Value	(Gains) Losses			Other		Sales,		Gross		Gross		to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,518	$	299	$	-	$	157	$	-	$	-	$	-	$	3,974	$	1
Derivative liabilities, net:
Interest rate contracts		30		(2)		-		(2)		-		-		-		26		1
Foreign exchange contracts		7		-		-		(4)		-		-		-		3		-
Equity contracts		(63)		(11)		-		5		-		-		-		(69)		8
Credit contracts		293		(19)		-		(1)		-		-		-		273		19
Other contracts		(16)		(19)		-		19		-		-		-		(16)		12
Total derivative liabilities, net^(a)		251		(51)		-		17		-		-		-		217		40
Long-term debt^(b)		61		2		-		(60)		-		-		-		3		4
Total	$	3,830	$	250	$	-	$	114	$	-	$	-	$	-	$	4,194	$	45

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair Value	Gains (Losses)			Other		Sales,		Gross		Gross		to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Nine Months Ended September 30, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,040	$	3	$	123	$	221	$	8	$	(24)	$	-	$	2,371	$	-
Non-U.S. governments		17		(5)		5		(6)		-		-		-		11		-
Corporate debt		1,133		6		(2)		(219)		655		(363)		-		1,210		-
RMBS		16,906		806		992		(2,270)		19		(39)		-		16,414		-
CMBS		2,040		25		12		(699)		-		(713)		-		665		-
CDO/ABS		7,835		(14)		168		478		-		(53)		-		8,414		-
Total bonds available for sale		29,971		821		1,298		(2,495)		682		(1,192)		-		29,085		-
Other bond securities:
Corporate debt		17		2		-		10		-		(11)		-		18		1
RMBS		1,605		184		-		(313)		-		(33)		-		1,443		116
CMBS		155		4		-		24		-		(118)		-		65		6
CDO/ABS		5,703		459		-		(1,322)		-		(6)		-		4,834		91
Total other bond securities		7,480		649		-		(1,601)		-		(168)		-		6,360		214
Equity securities available for sale:
Common stock		-		-		-		6		-		(1)		-		5		-
Total equity securities available for sale		-		-		-		6		-		(1)		-		5		-
Other equity securities		-		-		-		-		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		(6)		-		-		-		5		-
Other invested assets		204		3		(5)		58		-		(1)		-		259		1
Total	$	37,666	$	1,473	$	1,293	$	(4,038)	$	682	$	(1,362)	$	-	$	35,714	$	215

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair Value	(Gains) Losses			Other		Sales,		Gross		Gross		to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,033	$	594	$	-	$	347	$	-	$	-	$	-	$	3,974	$	3
Derivative liabilities, net:
Interest rate contracts		38		(3)		-		(9)		-		-		-		26		3
Foreign exchange contracts		11		1		-		(9)		-		-		-		3		(1)
Equity contracts		(58)		(26)		-		15		-		-		-		(69)		22
Credit contracts		329		(55)		-		(1)		-		-		-		273		53
Other contracts		(11)		(58)		-		56		(3)		-		-		(16)		57
Total derivative liabilities, net^(a)		309		(141)		-		52		(3)		-		-		217		134
Long-term debt^(b)		71		16		-		(84)		-		-		-		3		-
Total	$	3,413	$	469	$	-	$	315	$	(3)	$	-	$	-	$	4,194	$	137

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		to Assets		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Three Months Ended September 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,313	$	1	$	(5)	$	58	$	2	$	(78)	$	-	$	2,291	$	-
Non-U.S. governments		28		(3)		(9)		3		-		-		-		19		-
Corporate debt		836		(4)		7		(6)		267		(82)		(1)		1,017		-
RMBS		16,779		255		304		(165)		36		-		-		17,209		-
CMBS		2,295		12		(5)		(1)		2		(32)		(6)		2,265		-
CDO/ABS		7,075		7		16		728		-		-		(81)		7,745		-
Total bonds available for sale		29,326		268		308		617		307		(192)		(88)		30,546		-
Other bond securities:
Corporate debt		18		1		-		-		-		-		-		19		-
RMBS		1,486		30		-		(120)		-		-		-		1,396		12
CMBS		168		6		-		(15)		-		-		-		159		4
CDO/ABS		6,312		175		-		(506)		-		-		-		5,981		-
Total other bond securities		7,984		212		-		(641)		-		-		-		7,555		16
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-		-
Other equity securities		14		-		-		(14)		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		-		-		-		-		11		-
Other invested assets		241		(4)		1		18		-		-		-		256		-
Total	$	37,576	$	476	$	309	$	(20)	$	307	$	(192)	$	(88)	$	38,368	$	16

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		(Gains) Losses		Other		Sales,		Gross		Gross		to Liabilities		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,990	$	65	$	-	$	(33)	$	-	$	-	$	-	$	4,022	$	1
Derivative liabilities, net:
Interest rate contracts		46		(3)		-		9		-		-		-		52		4
Foreign exchange contracts		9		1		-		(1)		-		-		-		9		(1)
Equity contracts		(52)		(5)		-		3		-		-		-		(54)		5
Credit contracts		373		(36)		-		7		-		1		-		345		28
Other contracts		102		(16)		-		4		-		-		-		90		33
Total derivatives liabilities, net^(a)		478		(59)		-		22		-		1		-		442		69
Long-term debt^(b)		67		3		-		-		-		-		-		70		-
Other liabilities		-		-		-		-		-		-		-		-		(3)
Total	$	4,535	$	9	$	-	$	(11)	$	-	$	1	$	-	$	4,534	$	67

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		to Assets		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Nine Months Ended September 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,124	$	3	$	189	$	51	$	2	$	(78)	$	-	$	2,291	$	-
Non-U.S. governments		32		(3)		(11)		5		-		(4)		-		19		-
Corporate debt		1,370		(1)		(10)		(42)		581		(880)		(1)		1,017		-
RMBS		16,537		734		(55)		(337)		330		-		-		17,209		-
CMBS		2,585		70		(83)		(169)		2		(134)		(6)		2,265		-
CDO/ABS		6,169		27		59		1,548		23		-		(81)		7,745		-
Total bonds available for sale		28,817		830		89		1,056		938		(1,096)		(88)		30,546		-
Other bond securities:
Corporate debt		17		3		-		(1)		-		-		-		19		3
RMBS		1,581		7		-		(174)		-		(18)		-		1,396		(48)
CMBS		193		4		-		(38)		-		-		-		159		14
CDO/ABS		7,055		151		-		(1,225)		65		(65)		-		5,981		(378)
Total other bond securities		8,846		165		-		(1,438)		65		(83)		-		7,555		(409)
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-		-
Other equity securities		14		-		-		(14)		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		-		-		-		-		11		-
Other invested assets		332		(5)		2		(19)		-		(54)		-		256		(2)
Total	$	38,020	$	990	$	91	$	(415)	$	1,003	$	(1,233)	$	(88)	$	38,368	$	(411)

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		(Gains) Losses		Other		Sales,		Gross		Gross		to Liabilities		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	2,289	$	1,508	$	-	$	225	$	-	$	-	$	-	$	4,022	$	38
Derivative liabilities, net:
Interest rate contracts		50		4		-		(2)		-		-		-		52		(5)
Foreign exchange contracts		7		3		-		(1)		-		-		-		9		(2)
Equity contracts		(54)		(5)		-		5		-		-		-		(54)		5
Credit contracts		505		(70)		-		(91)		-		1		-		345		56
Other contracts		48		14		-		28		-		-		-		90		3
Total derivatives liabilities, net^(a)		556		(54)		-		(61)		-		1		-		442		57
Long-term debt^(b)		183		3		-		(3)		-		(113)		-		70		-
Total	$	3,028	$	1,457	$	-	$	161	$	-	$	(112)	$	-	$	4,534	$	95

(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 September 30, 2017
Bonds available for sale	$	257	$	8	$	-	$	265
Other bond securities		87		(2)		92		177
Other invested assets		2		1		(3)		-
Nine Months Ended September 30, 2017
Bonds available for sale	$	849	$	(28)	$	-	$	821
Other bond securities		259		-		390		649
Other invested assets		5		(1)		(1)		3
Three Months Ended September 30, 2016
Bonds available for sale	$	294	$	(27)	$	1	$	268
Other bond securities		37		13		162		212
Other invested assets		5		(3)		(6)		(4)
Nine Months Ended September 30, 2016
Bonds available for sale	$	883	$	(56)	$	3	$	830
Other bond securities		29		45		91		165
Other invested assets		2		29		(36)		(5)


		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	Gains (Losses)			Income		Total
Three Months Ended September 30, 2017
Policyholder contract deposits	$	-	$	299	$	-	$	299
Derivative liabilities, net		-		(5)		(46)		(51)
Long-term debt		-		-		2		2
Nine Months Ended September 30, 2017
Policyholder contract deposits	$	-	$	594	$	-	$	594
Derivative liabilities, net		-		(13)		(128)		(141)
Long-term debt		-		-		16		16
Three Months Ended September 30, 2016
Policyholder contract deposits	$	-	$	65	$	-	$	65
Derivative liabilities, net		-		(5)		(54)		(59)
Long-term debt		-		-		3		3
Nine Months Ended September 30, 2016
Policyholder contract deposits	$	-	$	1,508	$	-	$	1,508
Derivative liabilities, net		-		(1)		(53)		(54)
Long-term debt		-		-		3		3

The following table presents the gross components of purchases, sales, issues and settlements, net, shown above, for the three- and nine-month periods ended September 30, 2017 and 2016 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 September 30, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	56	$	-	$	(4)	$	52
Non-U.S. governments		7		-		(7)		-
Corporate debt		6		(5)		(54)		(53)
RMBS		194		(16)		(909)		(731)
CMBS		-		(17)		(60)		(77)
CDO/ABS		402		(136)		(432)		(166)
Total bonds available for sale		665		(174)		(1,466)		(975)
Other bond securities:
Corporate debt		-		-		-		-
RMBS		-		(51)		(79)		(130)
CMBS		42		-		-		42
CDO/ABS		-		(57)		(448)		(505)
Total other bond securities		42		(108)		(527)		(593)
Equity securities available for sale		4		-		(6)		(2)
Other equity securities		-		-		-		-
Other invested assets		46		(9)		(1)		36
Total assets	$	757	$	(291)	$	(2,000)	$	(1,534)
Liabilities:
Policyholder contract deposits	$	-	$	79	$	78	$	157
Derivative liabilities, net		-		-		17		17
Long-term debt^(b)		-		-		(60)		(60)
Total liabilities	$	-	$	79	$	35	$	114
Three Months Ended September 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	98	$	-	$	(40)	$	58
Non-U.S. governments		7		-		(4)		3
Corporate debt		-		-		(6)		(6)
RMBS		754		(23)		(896)		(165)
CMBS		50		(24)		(27)		(1)
CDO/ABS		902		(22)		(152)		728
Total bonds available for sale		1,811		(69)		(1,125)		617
Other bond securities:
Corporate debt		-		-		-		-
RMBS		12		(74)		(58)		(120)
CMBS		-		(14)		(1)		(15)
CDO/ABS		-		(340)		(166)		(506)
Total other bond securities		12		(428)		(225)		(641)
Equity securities available for sale		-		-		-		-
Other equity securities		-		-		(14)		(14)
Other invested assets		21		-		(3)		18
Total assets	$	1,844	$	(497)	$	(1,367)	$	(20)
Liabilities:
Policyholder contract deposits	$	-	$	95	$	(128)	$	(33)
Derivative liabilities, net		(2)		-		24		22
Long-term debt^(b)		-		-		-		-
Total liabilities	$	(2)	$	95	$	(104)	$	(11)

								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Nine Months Ended September 30, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	279	$	(16)	$	(42)	$	221
Non-U.S. governments		7		(1)		(12)		(6)
Corporate debt		36		(59)		(196)		(219)
RMBS		834		(260)		(2,844)		(2,270)
CMBS		39		(128)		(610)		(699)
CDO/ABS		1,609		(136)		(995)		478
Total bonds available for sale		2,804		(600)		(4,699)		(2,495)
Other bond securities:
Corporate debt		11		-		(1)		10
RMBS		112		(218)		(207)		(313)
CMBS		42		(11)		(7)		24
CDO/ABS		-		(65)		(1,257)		(1,322)
Total other bond securities		165		(294)		(1,472)		(1,601)
Equity securities available for sale		12		-		(6)		6
Other equity securities		-		-		-		-
Mortgage and other loans receivable		-		(6)		-		(6)
Other invested assets		89		(11)		(20)		58
Total assets	$	3,070	$	(911)	$	(6,197)	$	(4,038)
Liabilities:
Policyholder contract deposits	$	-	$	231	$	116	$	347
Derivative liabilities, net		-		-		52		52
Long-term debt^(b)		-		-		(84)		(84)
Total liabilities	$	-	$	231	$	84	$	315
Nine Months Ended September 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	144	$	(7)	$	(86)	$	51
Non-U.S. governments		10		-		(5)		5
Corporate debt		29		(25)		(46)		(42)
RMBS		2,297		(81)		(2,553)		(337)
CMBS		156		(82)		(243)		(169)
CDO/ABS		2,053		(33)		(472)		1,548
Total bonds available for sale		4,689		(228)		(3,405)		1,056
Other bond securities:
Corporate debt		-		-		(1)		(1)
RMBS		101		(100)		(175)		(174)
CMBS		53		(85)		(6)		(38)
CDO/ABS		69		(376)		(918)		(1,225)
Total other bond securities		223		(561)		(1,100)		(1,438)
Equity securities available for sale		-		-		-		-
Other equity securities		14		-		(28)		(14)
Other invested assets		39		(2)		(56)		(19)
Total assets	$	4,965	$	(791)	$	(4,589)	$	(415)
Liabilities:
Policyholder contract deposits	$	-	$	365	$	(140)	$	225
Derivative liabilities, net		(5)		-		(56)		(61)
Long-term debt^(b)		-		-		(3)		(3)
Total liabilities	$	(5)	$	365	$	(199)	$	161

(a) There were no issuances during the three- and nine-month periods ended September 30, 2017 and 2016, 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 September 30, 2017 and 2016 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 or Other comprehensive income (loss) as shown in the table above excluded $49 million and $57 million of net losses related to assets and liabilities transferred into Level 3 during the three- and nine-month periods ended September 30, 2017, respectively, and included $32 million and $38 million of net losses related to assets and liabilities transferred out of Level 3 during the three- and nine-month periods ended September 30, 2017, respectively.

The Net realized and unrealized gains (losses) included in income (loss) or Other comprehensive income (loss) as shown in the table above excluded $11 million of net losses related to assets and liabilities transferred into Level 3 during the nine-month period ended September 30, 2016, and included $3 million and $54 million of net losses related to assets and liabilities transferred out of Level 3 during the three- and nine-month periods ended September 30, 2016, respectively.

Transfers of Level 3 Assets

During the three- and nine-month periods ended September 30, 2017 and 2016, 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 nine-month periods ended September 30, 2017 and 2016, transfers out of Level 3 assets primarily included private placement and other corporate debt, CMBS, RMBS, CDO/ABS 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 nine-month periods ended September 30, 2017 and 2016.

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
	September 30,		Valuation		Range
(in millions)	2017		Technique	Unobservable Input^(b)	(Weighted Average)
Assets:

Obligations of states, municipalities
and political subdivisions	$	1,578	Discounted cash flow	Yield	3.71% - 4.49% (4.10%)

Corporate debt		430	Discounted cash flow	Yield	4.18% - 4.52% (4.35%)

RMBS^(a)		16,472	Discounted cash flow	Constant prepayment rate	2.54% - 11.06% (6.80%)
				Loss severity	47.05% - 79.54% (62.97%)
				Constant default rate	3.21% - 7.87% (5.54%)
				Yield	2.27% - 4.88% (3.58%)

CDO/ABS^(a)		5,086	Discounted cash flow	Yield	3.26% - 4.99% (4.12%)

CMBS		488	Discounted cash flow	Yield	1.86% - 9.12% (5.49%)
Liabilities:

Embedded derivatives within
Policyholder contract deposits:

Guaranteed minimum withdrawal benefits (GMWB)		2,104	Discounted cash flow	Equity volatility	5.00% - 40.00%
				Base lapse rate	0.35% - 14.00%
				Dynamic lapse multiplier	30.00% - 170.00%
				Mortality multiplier^(c)	40.00% - 153.00%
				Utilization	100.00%
				Equity / interest-rate correlation	20.00% - 40.00%

Index Annuities		1,375	Discounted cash flow	Lapse rate	0.50% - 40.00%
				Mortality multiplier^(c)	42.00% - 162.00%

Indexed Life		477	Discounted cash flow	Base lapse rate	2.00% to 19.00%
				Mortality rate	0.00% to 40.00%


		Fair Value at
		December 31,	Valuation		Range
(in millions)		2016	Technique	Unobservable Input^(b)	(Weighted Average)
Assets:

Obligations of states, municipalities
and political subdivisions	$	1,248	Discounted cash flow	Yield	4.12% - 4.91% (4.52%)

Corporate debt		498	Discounted cash flow	Yield	3.41% - 6.38% (4.90%)

RMBS^(a)		17,412	Discounted cash flow	Constant prepayment rate	3.95% - 6.54% (5.25%)
				Loss severity	47.51% - 80.98% (64.24%)
				Constant default rate	3.28% - 8.64% (5.96%)
				Yield	3.28% - 5.87% (4.57%)

CDO/ABS^(a)		4,368	Discounted cash flow	Yield	3.67% - 5.85% (4.76%)

CMBS		1,511	Discounted cash flow	Yield	0.48% - 10.21% (5.34%)
Liabilities:

Embedded derivatives within
Policyholder contract deposits:

GMWB		1,777	Discounted cash flow	Equity volatility	13.00% - 50.00%
				Base lapse rate	0.50% - 20.00%
				Dynamic lapse multiplier	30.00% - 170.00%
				Mortality multiplier^(c)	42.00% - 161.00%
				Utilization	100.00%
				Equity / interest-rate correlation	20.00% - 40.00%

Index Annuities		859	Discounted cash flow	Lapse rate	1.00% - 66.00%
				Mortality multiplier^(c)	101.00% - 103.00%

Indexed Life		381	Discounted cash flow	Base lapse rate	2.00% - 19.00%
				Mortality rate	0.00% - 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.

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

		September 30, 2017				December 31, 2016
			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	$	1,310	$	761	$	1,424	$	750

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		226		185		258		208

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		127		44		137		31

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		119		43		123		44

Other	Includes multi-strategy, mezzanine and other strategies		400		237		312		215
Total private equity funds			2,182		1,270		2,254		1,248
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		1,228		-		1,453		9

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		1,317		-		1,429		-

Macro	Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions		1,016		-		992		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		278		7		416		8

Other	Includes investments held in funds that are less liquid, as well as other strategies which allow for broader allocation between public and private investments		222		4		197		14
Total hedge funds			4,061		11		4,487		31
Total		$	6,243	$	1,281	$	6,741	$	1,279

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 September 30, 2017, assuming average original expected lives of 10 years for the funds, 62 percent of the total fair value using net asset value per share (or its equivalent) presented above would have expected remaining lives of three years or less, 17 percent between four and six years and 21 percent between seven and 10 years.

The hedge fund investments included above, which are carried at fair value, are generally redeemable monthly (21 percent), quarterly (45 percent), semi-annually (11 percent) and annually (23 percent), with redemption notices ranging from one day to 180 days. At September 30, 2017, investments representing approximately 49 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 2018.

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 September 30,				Gain (Loss) Nine Months Ended September 30,
	Gain (Loss) Three Months Ended September 30,				Gain (Loss) Nine Months Ended September 30,
(in millions)		2017		2016		2017		2016
Assets:
Bond and equity securities	$	289	$	331	$	1,088	$	629
Alternative Investments^(a)		129		154		406		(60)
Other, including Short-term investments		1		-		1		-
Liabilities:
Long-term debt^(b)		(18)		8		(66)		(239)
Other liabilities		(1)		-		(2)		-
Total gain	$	400	$	493	$	1,427	$	330

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

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

We recognized gains of $2 million during both three- and nine-month periods ended September 30, 2017 and gains of $6 million and $14 million during the three- and nine-month periods ended September 30, 2016, 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:

	September 30, 2017						December 31, 2016
			Outstanding						Outstanding
(in millions)	Fair Value		Principal Amount		Difference		Fair Value		Principal Amount		Difference
Assets:
Mortgage and other loans receivable	$	5	$	5	$	-	$	11	$	8	$	3
Liabilities:
Long-term debt^*	$	2,998	$	2,353	$	645	$	3,428	$	2,628	$	800

* 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 September 30,				Nine Months Ended September 30,
(in millions)	Level 1		Level 2		Level 3			Total		2017		2016		2017		2016
September 30, 2017
Other investments	$	-	$	-	$	62	$	62	$	26	$	27	$	76	$	58
Investments in life settlements		-		-		1,759		1,759		273		80		360		329
Other assets^*		-		-		-		-		-		2		35		11
Total	$	-	$	-	$	1,821	$	1,821	$	299	$	109	$	471	$	398
December 31, 2016
Other investments	$	-	$	-	$	364	$	364
Investments in life settlements		-		-		736		736
Other assets		-		-		2		2
Total	$	-	$	-	$	1,102	$	1,102

* Impairments include $35 million related to other assets that were sold during the three-month period ended June 30, 2017.

FAIR VALUE INFORMATION ABOUT FINANCIAL INSTRUMENTS NOT MEASURED AT FAIR VALUE

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

	Estimated Fair Value									Carrying
(in millions)		Level 1		Level 2		Level 3		Total		Value
September 30, 2017
Assets:
Mortgage and other loans receivable	$	-	$	155	$	36,750	$	36,905	$	36,084
Other invested assets		-		665		6		671		661
Short-term investments		-		7,172		-		7,172		7,172
Cash		2,433		-		-		2,433		2,433
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		353		123,656		124,009		114,070
Other liabilities		-		4,896		-		4,896		4,896
Long-term debt		-		23,687		3,486		27,173		28,041
December 31, 2016
Assets:
Mortgage and other loans receivable	$	-	$	161	$	33,575	$	33,736	$	33,229
Other invested assets		-		955		2,053		3,008		3,474
Short-term investments		-		8,961		-		8,961		8,961
Cash		1,868		-		-		1,868		1,868
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		382		121,742		122,124		112,705
Other liabilities		-		4,196		-		4,196		4,196
Long-term debt		-		23,117		3,333		26,450		27,484

- 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

9 Months Ended

Sep. 30, 2017

INVESTMENTS

INVESTMENTS

6. Investments

Securities Available for Sale

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

										Other-Than-
		Amortized		Gross		Gross				Temporary
		Cost or		Unrealized		Unrealized		Fair		Impairments
(in millions)		Cost		Gains		Losses		Value		in AOCI^(a)
September 30, 2017
Bonds available for sale:
U.S. government and government sponsored entities	$	2,252	$	152	$	(20)	$	2,384	$	-
Obligations of states, municipalities and political subdivisions		17,637		1,235		(41)		18,831		-
Non-U.S. governments		14,885		808		(100)		15,593		-
Corporate debt		126,014		8,519		(848)		133,685		10
Mortgage-backed, asset-backed and collateralized:
RMBS		34,270		3,421		(182)		37,509		1,737
CMBS		13,154		456		(92)		13,518		52
CDO/ABS		15,931		374		(54)		16,251		29
Total mortgage-backed, asset-backed and collateralized		63,355		4,251		(328)		67,278		1,818
Total bonds available for sale^(b)		224,143		14,965		(1,337)		237,771		1,828
Equity securities available for sale:
Common stock		708		357		(9)		1,056		-
Preferred stock		504		73		-		577		-
Mutual funds		62		12		-		74		-
Total equity securities available for sale		1,274		442		(9)		1,707		-
Total	$	225,417	$	15,407	$	(1,346)	$	239,478	$	1,828
December 31, 2016
Bonds available for sale:
U.S. government and government sponsored entities	$	1,870	$	148	$	(26)	$	1,992	$	-
Obligations of states, municipalities and political subdivisions		24,025		1,001		(254)		24,772		-
Non-U.S. governments		14,018		773		(256)		14,535		-
Corporate debt		126,648		7,271		(1,739)		132,180		(31)
Mortgage-backed, asset-backed and collateralized:
RMBS		35,311		2,541		(478)		37,374		1,212
CMBS		14,054		409		(192)		14,271		45
CDO/ABS		16,315		278		(180)		16,413		39
Total mortgage-backed, asset-backed and collateralized		65,680		3,228		(850)		68,058		1,296
Total bonds available for sale^(b)		232,241		12,421		(3,125)		241,537		1,265
Equity securities available for sale:
Common stock		708		369		(12)		1,065		-
Preferred stock		748		4		-		752		-
Mutual funds		241		23		(3)		261		-
Total equity securities available for sale		1,697		396		(15)		2,078		-
Total	$	233,938	$	12,817	$	(3,140)	$	243,615	$	1,265

(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 September 30, 2017 and December 31, 2016, bonds available for sale held by us that were below investment grade or not rated totaled $31.2 billion and $33.6 billion, respectively.

Securities Available for Sale in a Loss Position

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

	Less than 12 Months				12 Months or More				Total
				Gross				Gross				Gross
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in millions)		Value		Losses		Value		Losses		Value		Losses
September 30, 2017
Bonds available for sale:
U.S. government and government sponsored entities	$	766	$	10	$	237	$	10	$	1,003	$	20
Obligations of states, municipalities and political
subdivisions		871		9		638		32		1,509		41
Non-U.S. governments		2,354		17		793		83		3,147		100
Corporate debt		13,155		272		7,984		576		21,139		848
RMBS		5,861		99		2,287		83		8,148		182
CMBS		2,663		37		1,173		55		3,836		92
CDO/ABS		1,864		24		755		30		2,619		54
Total bonds available for sale		27,534		468		13,867		869		41,401		1,337
Equity securities available for sale:
Common stock		149		9		1		-		150		9
Mutual funds		6		-		-		-		6		-
Total equity securities available for sale		155		9		1		-		156		9
Total	$	27,689	$	477	$	13,868	$	869	$	41,557	$	1,346
December 31, 2016
Bonds available for sale:
U.S. government and government sponsored entities	$	720	$	26	$	-	$	-	$	720	$	26
Obligations of states, municipalities and political
subdivisions		5,814		221		231		33		6,045		254
Non-U.S. governments		3,865		162		489		94		4,354		256
Corporate debt		28,184		1,013		6,080		726		34,264		1,739
RMBS		8,794		252		4,045		226		12,839		478
CMBS		4,469		152		479		40		4,948		192
CDO/ABS		5,362		102		1,961		78		7,323		180
Total bonds available for sale		57,208		1,928		13,285		1,197		70,493		3,125
Equity securities available for sale:
Common stock		125		12		-		-		125		12
Mutual funds		64		3		-		-		64		3
Total equity securities available for sale		189		15		-		-		189		15
Total	$	57,397	$	1,943	$	13,285	$	1,197	$	70,682	$	3,140

At September 30, 2017, we held 6,115 and 75 individual fixed maturity and equity securities, respectively, that were in an unrealized loss position, of which 1,721 and three individual fixed maturity and equity securities, respectively, 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 September 30, 2017 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
	Available for Sale				Position Available for Sale
(in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
September 30, 2017
Due in one year or less	$	8,929	$	9,129	$	1,400	$	1,386
Due after one year through five years		47,237		49,651		5,260		5,134
Due after five years through ten years		41,576		43,101		8,841		8,474
Due after ten years		63,046		68,612		12,306		11,804
Mortgage-backed, asset-backed and collateralized		63,355		67,278		14,931		14,603
Total	$	224,143	$	237,771	$	42,738	$	41,401
December 31, 2016
Due in one year or less	$	7,796	$	7,994	$	604	$	581
Due after one year through five years		49,200		51,958		6,002		5,841
Due after five years through ten years		43,308		44,226		16,045		15,332
Due after ten years		66,257		69,301		25,007		23,629
Mortgage-backed, asset-backed and collateralized		65,680		68,058		25,960		25,110
Total	$	232,241	$	241,537	$	73,618	$	70,493

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 September 30,								Nine Months Ended September 30,
		2017				2016			2017					2016
		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	$	93	$	39	$	189	$	54	$	637	$	263		$	593	$	696
Equity securities		6		2		54		1		106		20			1,066		15
Total	$	99	$	41	$	243	$	55	$	743	$	283		$	1,659	$	711

For the three- and nine-month periods ended September 30, 2017, the aggregate fair value of available for sale securities sold was $4.4 billion and $27.8 billion, respectively, which resulted in net realized capital gains of $58 million and $460 million, respectively.

For the three- and nine-month periods ended September 30, 2016, the aggregate fair value of available for sale securities sold was $7.9 billion and $22.3 billion, respectively, which resulted in net realized capital gains of $188 million and $948 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:

		September 30, 2017				December 31, 2016
		Fair	Percent			Fair	Percent
(in millions)		Value	of Total			Value	of Total
Fixed maturity securities:
U.S. government and government sponsored entities	$	2,829	22	%	$	2,939	20	%
Obligations of states, municipalities and political subdivisions		-	-			-	-
Non-U.S. governments		55	-			51	-
Corporate debt		1,862	14			1,772	12
Mortgage-backed, asset-backed and collateralized:
RMBS		1,869	14			2,025	14
CMBS		556	4			603	4
CDO/ABS and other collateralized^*		5,482	42			6,608	47
Total mortgage-backed, asset-backed and collateralized		7,907	60			9,236	65
Total fixed maturity securities		12,653	96			13,998	97
Equity securities		538	4			482	3
Total	$	13,191	100	%	$	14,480	100	%

* Includes $270 million and $421 million of U.S. government agency-backed ABS at September 30, 2017 and December 31, 2016, respectively.

Other Invested Assets

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

		September 30,		December 31,
(in millions)		2017		2016
Alternative investments^{(a) (b)}	$	12,042	$	13,379
Investment real estate^(c)		7,465		6,900
Aircraft asset investments^(d)		218		321
Investments in life settlements		1,759		2,516
All other investments		1,106		1,422
Total	$	22,590	$	24,538

(a) At September 30, 2017, includes hedge funds of $6.3 billion, private equity funds of $5.2 billion, and affordable housing partnerships of $558 million. At December 31, 2016, includes hedge funds of $7.2 billion, private equity funds of $5.5 billion, and affordable housing partnerships of $625 million.

(b) Approximately 45 percent and 32 percent of our hedge fund portfolio is available for redemption in 2017 and 2018, respectively, an additional 17 percent will be available between 2019 and 2024.

(c) Net of accumulated depreciation of $510 million and $451 million in September 30, 2017 and December 31, 2016, respectively.

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

Net Investment Income

The following table presents the components of Net investment income:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Fixed maturity securities, including short-term investments	$	2,697	$	2,935	$	8,326	$	8,863
Equity securities		5		25		22		(19)
Interest on mortgage and other loans		414		379		1,206		1,144
Alternative investments^*		355		365		1,174		309
Real estate		51		37		131		125
Other investments		30		157		246		395
Total investment income		3,552		3,898		11,105		10,817
Investment expenses		136		115		390		338
Net investment income	$	3,416	$	3,783	$	10,715	$	10,479

* Includes income from hedge funds, private equity funds and affordable housing partnerships. 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				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Sales of fixed maturity securities	$	54	$	135	$	374	$	(103)
Sales of equity securities		4		53		86		1,051
Other-than-temporary impairments:
Severity		-		(10)		(2)		(15)
Change in intent		(1)		(2)		(9)		(35)
Foreign currency declines		(1)		(7)		(11)		(14)
Issuer-specific credit events		(85)		(77)		(197)		(303)
Adverse projected cash flows		(1)		(6)		(4)		(47)
Provision for loan losses		(38)		8		(56)		8
Foreign exchange transactions		66		(639)		299		(1,197)
Variable annuity embedded derivatives, net of related hedges		(430)		(309)		(1,023)		(482)
All other derivatives and hedge accounting		(136)		83		(217)		353
Impairments on investments in life settlements		(273)		(80)		(360)		(329)
Other^*		(81)		86		14		284
Net realized capital losses	$	(922)	$	(765)	$	(1,106)	$	(829)

* 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 nine months ended September 30, 2016.

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				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	1,059	$	1,595	$	4,332	$	11,957
Equity securities		9		(19)		52		(1,159)
Other investments		10		(29)		(127)		(243)
Total Increase (decrease) in unrealized appreciation (depreciation) of investments^*	$	1,078	$	1,547	$	4,257	$	10,555

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

Evaluating Investments for Other-Than-Temporary Impairments

For a discussion of our policy for evaluating investments for other-than-temporary impairments see Note 6 to the Consolidated Financial Statements in the 2016 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				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Balance, beginning of period	$	762	$	1,298	$	1,098	$	1,747
Increases due to:
Credit impairments on new securities subject to impairment losses		58		23		116		146
Additional credit impairments on previously impaired securities		12		37		49		166
Reductions due to:
Credit impaired securities fully disposed of for which there was no
prior intent or requirement to sell		(44)		(39)		(99)		(282)
Accretion on securities previously impaired due to credit^*		(147)		(187)		(523)		(645)
Impairments on securities reclassified to Assets held for sale		-		(2)		-		(2)
Balance, end of period	$	641	$	1,130	$	641	$	1,130

* 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 whether it is probable at acquisition that we will not collect all contractually required payments for these PCI securities, including both principal and interest. 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 an effective 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)	$	36,228
Cash flows expected to be collected^*		29,649
Recorded investment in acquired securities		19,944

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

(in millions)	September 30, 2017		December 31, 2016
Outstanding principal balance	$	14,977	$	16,728
Amortized cost		10,636		11,987
Fair value		12,470		12,922

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Balance, beginning of period	$	7,465	$	7,043	$	7,498	$	6,846
Newly purchased PCI securities		16		177		117		628
Disposals		-		-		(18)		-
Accretion		(193)		(214)		(609)		(637)
Effect of changes in interest rate indices		(74)		(196)		(188)		(435)
Net reclassification from (to) non-accretable difference,
including effects of prepayments		172		158		586		566
Balance, end of period	$	7,386	$	6,968	$	7,386	$	6,968

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)		September 30, 2017		December 31, 2016
Fixed maturity securities available for sale	$	2,988	$	2,389
Other bond securities, at fair value	$	1,869	$	1,799

At September 30, 2017 and December 31, 2016, amounts borrowed under repurchase and securities lending agreements totaled $4.9 billion and $4.2 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
September 30, 2017
Bonds available for sale:
Non-U.S. governments	$	-	$	40	$	-	$	-	$	-	$	40
Corporate debt		-		17		44		11		-		72
Other bond securities:
U.S. government and government sponsored entities		33		-		-		-		-		33
Non-U.S. governments		-		-		-		55		-		55
Corporate debt		-		422		1,089		270		-		1,781
Total	$	33	$	479	$	1,133	$	336	$	-	$	1,981

December 31, 2016
Other bond securities:
Non-U.S. governments	$	-	$	-	$	-	$	51	$	-	$	51
Corporate debt		-		163		860		725		-		1,748
Total	$	-	$	163	$	860	$	776	$	-	$	1,799

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
September 30, 2017
Bonds available for sale:
Obligations of states, municipalities and political
subdivisions	$	-	$	-	$	-	$	-	$	-	$	-
Non-U.S. governments		-		68		-		-		-		68
Corporate debt		-		704		1,608		496		-		2,808
CMBS		-		-		-		-		-		-
Total	$	-	$	772	$	1,608	$	496	$	-	$	2,876

December 31, 2016
Bonds available for sale:
Obligations of states, municipalities and political
subdivisions	$	-	$	21	$	-	$	-	$	-	$	21
Non-U.S. governments		-		-		50		-		-		50
Corporate debt		-		791		1,466		-		-		2,257
CMBS		-		-		61		-		-		61
Total	$	-	$	812	$	1,577	$	-	$	-	$	2,389

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)		September 30, 2017		December 31, 2016
Securities collateral pledged to us	$	2,054	$	1,434
Amount sold or repledged by us	$	80	$	11

Insurance – Statutory and Other Deposits

The total carrying value 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, was $4.9 billion at both September 30, 2017 and December 31, 2016.

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 $103 million and $114 million of stock in FHLBs at September 30, 2017 and December 31, 2016, respectively. In addition, our subsidiaries have pledged securities available for sale and residential loans associated with advances from FHLB, with a fair value of $2.9 billion and $223 million, respectively, at September 30, 2017 and $3.4 billion and $17 million, respectively, at December 31, 2016, 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 $2.1 billion and $2.2 billion at September 30, 2017 and December 31, 2016, 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.

Investments held in escrow accounts or otherwise subject to restriction as to their use were $411 million and $523 million, comprised of bonds available for sale and short term investments at September 30, 2017 and December 31, 2016, respectively.

LENDING ACTIVITIES

9 Months Ended

Sep. 30, 2017

LENDING ACTIVITIES

LENDING ACTIVITIES

7. Lending Activities

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

	September 30,			December 31,
(in millions)		2017		2016
Commercial mortgages^*	$	27,930	$	25,042
Residential mortgages		4,991		3,828
Life insurance policy loans		2,301		2,367
Commercial loans, other loans and notes receivable		1,212		2,300
Total mortgage and other loans receivable		36,434		33,537
Allowance for credit losses		(345)		(297)
Mortgage and other loans receivable, net	$	36,089	$	33,240

* Commercial mortgages primarily represent loans for offices, apartments and retail properties, with exposures in New York and California representing the largest geographic concentrations (aggregating approximately 22 percent and 12 percent, respectively, at September 30, 2017, and 24 percent and 12 percent, respectively, at December 31, 2016).

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
September 30, 2017
Loan-to-Value Ratios^(b)
Less than 65%	$	17,040	$	1,960	$	355	$	19,355
65% to 75%		5,466		418		205		6,089
76% to 80%		672		54		53		779
Greater than 80%		1,189		437		81		1,707
Total commercial mortgages	$	24,367	$	2,869	$	694	$	27,930

December 31, 2016
Loan-to-Value Ratios^(b)
Less than 65%	$	13,998	$	1,694	$	232	$	15,924
65% to 75%		5,946		575		62		6,583
76% to 80%		1,246		174		47		1,467
Greater than 80%		471		392		205		1,068
Total commercial mortgages	$	21,661	$	2,835	$	546	$	25,042

(a) The debt service coverage ratio compares a property’s net operating income to its debt service payments, including principal and interest. Our weighted average debt service coverage ratio was 1.8X and 1.9X at September 30, 2017 and December 31, 2016, respectively.

(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. Our weighted average loan-to-value ratio was 58 percent at both September 30, 2017, and December 31, 2016.

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 $
September 30, 2017
Credit Quality Performance Indicator:
In good standing	770	$	7,274	$	8,642	$	5,367	$	2,147	$	2,391	$	2,002	$	27,823	100	%
Restructured^(a)	3		-		15		4		-		16		-		35	-
90 days or less delinquent	1		-		14		-		-		-		-		14	-
>90 days delinquent or in
process of foreclosure	2		-		40		18		-		-		-		58	-
Total^(b)	776	$	7,274	$	8,711	$	5,389	$	2,147	$	2,407	$	2,002	$	27,930	100	%
Allowance for credit losses:
Specific		$	-	$	3	$	31	$	-	$	1	$	-	$	35	-	%
General			61		93		36		8		14		17		229	1
Total allowance for credit losses		$	61	$	96	$	67	$	8	$	15	$	17	$	264	1	%

December 31, 2016
Credit Quality Performance Indicator:
In good standing	784	$	6,005	$	7,830	$	5,179	$	1,898	$	2,373	$	1,589	$	24,874	99	%
Restructured^(a)	4		-		134		18		-		16		-		168	1
90 days or less delinquent	-		-		-		-		-		-		-		-	-
>90 days delinquent or in
process of foreclosure	-		-		-		-		-		-		-		-	-
Total^(b)	788	$	6,005	$	7,964	$	5,197	$	1,898	$	2,389	$	1,589	$	25,042	100	%
Allowance for credit losses:
Specific		$	-	$	3	$	1	$	6	$	1	$	-	$	11	-	%
General			35		72		41		7		13		15		183	1
Total allowance for credit losses		$	35	$	75	$	42	$	13	$	14	$	15	$	194	1	%

(a) Loans that have been modified in troubled debt restructurings and are performing according to their restructured terms. For additional discussion of troubled debt restructurings see Note 7 to the Consolidated Financial Statements in the 2016 Annual Report.

(b) Does not reflect allowance for credit losses.

(c) 99.7 percent 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

For a discussion of our accounting policy for evaluating Mortgage and other loans receivable for impairment see Note 7 to the Consolidated Financial Statements in the 2016 Annual Report

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

	2017						2016
Nine Months Ended September 30,		Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	194	$	103	$	297	$	171	$	137	$	308
Loans charged off		(5)		(2)		(7)		(13)		(2)		(15)
Recoveries of loans previously charged off		-		-		-		11		-		11
Net charge-offs		(5)		(2)		(7)		(2)		(2)		(4)
Provision for loan losses		75		(20)		55		20		(25)		(5)
Other		-		-		-		-		-		-
Allowance, end of period	$	264 ^*	$	81	$	345	$	189 ^*	$	110	$	299

* Of the total allowance, $35 million and $11 million relate to individually assessed credit losses on $342 million and $292 million of commercial mortgages at September 30, 2017 and 2016, respectively.

During the nine-month period ended September 30, 2017, loans with a carrying value of $25 million were modified in troubled debt restructurings. Loans that had been modified in troubled debt restructurings during the nine-month period ended September 30, 2016 have been fully paid off.

- Definition

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

+ References + Details

VARIABLE INTEREST ENTITIES

9 Months Ended

Sep. 30, 2017

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES

8. Variable Interest Entities

We enter into various arrangements with variable interest entities (VIEs) in the normal course of business and consolidate the VIEs when we determine we are the primary beneficiary. This analysis includes a review of the VIE’s capital structure, 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 is the entity that has both (1) the power to direct the activities of the VIE that most significantly affect the entity’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. While also considering these factors, the consolidation conclusion depends on the breadth of our decision-making ability and our ability to influence activities that significantly affect the economic performance of the VIE.

Balance Sheet Classification and Exposure to Loss

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

(in millions)		Real Estate and Investment Entities^(d)		Securitization Vehicles^(e)		Structured Investment Vehicle		Affordable Housing Partnerships		Other		Total
September 30, 2017
Assets:
Bonds available for sale	$	-	$	10,144	$	-	$	-	$	-	$	10,144
Other bond securities		-		4,427		-		-		4		4,431
Mortgage and other loans receivable		-		1,641		-		-		-		1,641
Other invested assets		1,047		218		-		3,050		25		4,340
Other ^(a)		358		1,196		4		463		83		2,104
Total assets^(b)	$	1,405	$	17,626	$	4	$	3,513	$	112	$	22,660
Liabilities:
Long-term debt	$	465	$	1,099	$	3	$	1,861	$	5	$	3,433
Other ^(c)		112		137		-		209		27		485
Total liabilities	$	577	$	1,236	$	3	$	2,070	$	32	$	3,918
December 31, 2016
Assets:
Bonds available for sale	$	-	$	10,233	$	-	$	-	$	-	$	10,233
Other bond securities		-		4,858		266		-		5		5,129
Mortgage and other loans receivable		1		1,442		-		-		104		1,547
Other invested assets		1,052		321		-		2,821		28		4,222
Other ^(a)		365		1,104		50		384		92		1,995
Total assets^(b)	$	1,418	$	17,958	$	316	$	3,205	$	229	$	23,126
Liabilities:
Long-term debt	$	444	$	771	$	56	$	1,696	$	6	$	2,973
Other^(c)		224		203		1		211		38		677
Total liabilities	$	668	$	974	$	57	$	1,907	$	44	$	3,650

(a) Comprised primarily of Short-term investments and Other assets at September 30, 2017 and December 31, 2016.

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

(d) At September 30, 2017 and December 31, 2016, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $98.6 million and $106 million, respectively.

(e) At September 30, 2017 and December 31, 2016, $17.0 billion and $17.3 billion, respectively, of the total assets of consolidated securitization vehicles were owed to AIG Parent or its subsidiaries.

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^(b)		Sheet			Total
September 30, 2017
Real estate and investment entities^(a)	$	378,378	$	9,876	$	2,019		$	11,895
Affordable housing partnerships		4,549		736		-			736
Other		2,882		277		1,189	^(c)		1,466
Total	$	385,809	$	10,889	$	3,208		$	14,097
December 31, 2016
Real estate and investment entities^(a)	$	409,087	$	11,015	$	2,115		$	13,130
Affordable housing partnerships		4,709		785		-			785
Other		2,869		314		1,045	^(c)		1,359
Total	$	416,665	$	12,114	$	3,160		$	15,274

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

(b) At September 30, 2017 and December 31, 2016, $10.5 billion and $11.7 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.

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

For additional information on VIEs see Note 10 to the Consolidated Financial Statements in the 2016 Annual Report.

DERIVATIVES AND HEDGE ACCOUNTING

9 Months Ended

Sep. 30, 2017

DERIVATIVES AND HEDGE ACCOUNTING

DERIVATIVES AND HEDGE ACCOUNTING

9. Derivatives and Hedge Accounting

We use derivatives and other financial instruments as part of our financial risk management programs and as part of our investment operations.

For a discussion of our accounting policies and procedures regarding derivatives and hedge accounting see Note 11 to the Consolidated Financial Statements in the 2016 Annual Report.

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. We use credit derivatives to manage our credit exposures. 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 derivatives and the fair value of derivative assets and liabilities in the Condensed Consolidated Balance Sheets:

	September 30, 2017								December 31, 2016
	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	$	290	$	1	$	615	$	9	$	175	$	-	$	782	$	11
Foreign exchange contracts		2,634		198		4,546		289		3,527		385		2,602		184
Equity contracts		-		-		143		3		-		-		113		7
Derivatives not designated
as hedging instruments:^(a)
Interest rate contracts		49,801		2,253		33,303		2,245		51,030		2,328		44,211		3,066
Foreign exchange contracts		6,143		669		10,763		1,012		9,468		935		7,674		1,185
Equity contracts		14,340		469		8,224		56		14,060		305		8,633		12
Credit contracts^(b)		3		1		975		278		4		2		861		331
Other contracts^(c)		38,031		23		61		5		37,633		22		62		6
Total derivatives, gross	$	111,242	$	3,614	$	58,630	$	3,897	$	115,897	$	3,977	$	64,938	$	4,802
Counterparty netting^(d)				(1,390)				(1,390)				(1,265)				(1,265)
Cash collateral^(e)				(1,324)				(1,395)				(903)				(1,521)
Total derivatives on condensed
consolidated balance sheets^(f)			$	900			$	1,112			$	1,809			$	2,016

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

(b) As of September 30, 2017 and December 31, 2016, included CDSs on super senior multi-sector CDOs with a net notional amount of $716 million and $801 million (fair value liability of $263 million and $308 million), respectively. The expected weighted average maturity as of September 30, 2017 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 September 30, 2017 and December 31, 2016, 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 zero at both September 30, 2017 and December 31, 2016. Fair value of liabilities related to bifurcated Embedded derivatives was $4.0 billion and $3.1 billion, respectively, at September 30, 2017 and December 31, 2016. 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 $4.5 billion at September 30, 2017 and December 31, 2016, respectively. In the case of collateral posted under derivative transactions that are not subject to clearing, this collateral can generally be repledged or resold by the counterparties. Collateral provided to us from third parties for derivative transactions was $1.3 billion and $1.5 billion at September 30, 2017 and December 31, 2016, 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 nine-month periods ended September 30, 2017, we recognized losses of $39 million and $87 million, respectively, and for the three- and nine-month periods ended September 30, 2016, we recognized a gain of $1 million and a loss of $8 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 September 30, 2017
Interest rate contracts:
Realized capital gains/(losses)	$	(1)	$	1	$	-	$	-	$	-
Other income		-		-		-		-		-
Foreign exchange contracts:
Realized capital gains/(losses)		(157)		142		-		(15)		-
Other income		-		-		-		-		-
Equity contracts:
Realized capital gains/(losses)		(3)		2		-		(1)		-
Three Months Ended September 30, 2016
Interest rate contracts:
Realized capital gains/(losses)	$	(1)	$	1	$	-	$	-	$	-
Other income		-		3		-		-		3
Foreign exchange contracts:
Realized capital gains/(losses)		(10)		(34)		-		(44)		-
Other income		-		3		-		-		3
Equity contracts:
Realized capital gains/(losses)		8		(9)		-		(1)		-
Nine Months Ended September 30, 2017
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(1)	$	-	$	-	$	-
Other income		-		-		-		-		-
Foreign exchange contracts:
Realized capital gains/(losses)		(318)		332		-		14		-
Other income		-		4		-		-		4
Equity contracts:
Realized capital gains/(losses)		(29)		26		-		(3)		-
Nine Months Ended September 30, 2016
Interest rate contracts:
Realized capital gains/(losses)	$	-	$	(6)	$	-	$	-	$	(6)
Other income		-		10		-		-		10
Foreign exchange contracts:
Realized capital gains/(losses)		413		(443)		-		(30)		-
Other income		-		15		-		-		15
Equity contracts:
Realized capital gains/(losses)		28		(28)		-		-		-

(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				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
By Derivative Type:
Interest rate contracts	$	(18)	$	91	$	81	$	1,464
Foreign exchange contracts		(98)		49		(220)		203
Equity contracts		(233)		(317)		(723)		(589)
Commodity contracts		-		-		-		-
Credit contracts		19		36		55		70
Other contracts		19		22		55		58
Embedded derivatives		(213)		30		(326)		(1,255)
Total	$	(524)	$	(89)	$	(1,078)	$	(49)
By Classification:
Policy fees	$	20	$	20	$	59	$	60
Net investment income		(3)		2		(10)		14
Net realized capital losses		(550)		(181)		(1,250)		(93)
Other income (losses)		8		69		121		(43)
Policyholder benefits and claims incurred		1		1		2		13
Total	$	(524)	$	(89)	$	(1,078)	$	(49)

Credit Risk-Related Contingent Features

The aggregate fair value of our derivative instruments that contained credit risk-related contingent features and that were in a net liability position at September 30, 2017 and December 31, 2016, was approximately $2.0 billion and $3.0 billion, respectively. The aggregate fair value of assets posted as collateral under these contracts at September 30, 2017 and December 31, 2016, was approximately $2.8 billion and $4.0 billion, respectively.

We estimate that at September 30, 2017, based on our outstanding financial derivative transactions, a downgrade of our long-term senior debt ratings to 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 $95 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 September 30, 2017. 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 $4.2 billion and $4.8 billion at September 30, 2017 and December 31, 2016, respectively. These securities have par amounts of $9.3 billion and $10.1 billion at September 30, 2017 and December 31, 2016, respectively, and have remaining stated maturity dates that extend to 2052.

INSURANCE LIABILITIES

9 Months Ended

Sep. 30, 2017

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

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

10. Insurance Liabilities

Liability for Unpaid Losses and Loss Adjustment Expenses (Loss Reserves)

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

Our gross loss reserves before reinsurance and discount are net of contractual deductible recoverable amounts due from policyholders of approximately $12.4 billion and $12.8 billion at September 30, 2017 and December 31, 2016, respectively. These recoverable amounts are related to certain policies with high deductibles (in excess of high dollar amounts retained by the insured through self-insured retentions, deductibles, retrospective programs, or captive arrangements, each referred to generically as “deductibles”), primarily for U.S. commercial casualty business. With respect to the deductible portion of the claim, we manage and pay the entire claim on behalf of the insured and are reimbursed by the insured for the deductible portion of the claim. Thus, these recoverable amounts represent a credit exposure to us. At September 30, 2017 and December 31, 2016, we held collateral of approximately $9.5 billion and $9.7 billion, respectively, for these deductible recoverable amounts, consisting primarily of letters of credit and funded trust agreements.

The following table presents the roll forward of activity in Loss Reserves:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Liability for unpaid loss and loss adjustment expenses, beginning of period	$	76,422	$	74,143	$	77,077	$	74,942
Reinsurance recoverable		(27,660)		(14,520)		(15,532)		(14,339)
Net Liability for unpaid loss and loss adjustment expenses, beginning of period		48,762		59,623		61,545		60,603
Foreign exchange effect		330		(147)		688		53
Dispositions^(a)		-		-		-		-
Retroactive reinsurance adjustment (net of discount)^(b)		22		-		(11,438)		-
Total		49,114		59,476		50,795		60,656
Losses and loss adjustment expenses incurred:
Current year		7,511		4,960		16,021		14,896
Prior years, excluding discount and amortization of deferred gain		901		274		1,354		214
Prior years, discount charge (benefit)		48		32		283		323
Prior years, amortization of deferred gain on retroactive reinsurance^(c)		(75)		-		(195)		-
Total losses and loss adjustment expenses incurred		8,385		5,266		17,463		15,433
Losses and loss adjustment expenses paid:
Current year		(1,634)		(1,948)		(3,342)		(3,945)
Prior years		(3,395)		(3,779)		(12,438)		(13,129)
Total losses and loss adjustment expenses paid		(5,029)		(5,727)		(15,780)		(17,074)
Reclassified to liabilities held for sale^(d)		8		(1,060)		-		(1,060)
Liability for unpaid loss and loss adjustment expenses, end of period:
Net liability for unpaid losses and loss adjustment expenses		52,478		57,955		52,478		57,955
Reinsurance recoverable		27,609		14,501		27,609		14,501
Total	$	80,087	$	72,456	$	80,087	$	72,456

(a) Includes amounts related to dispositions through the date of disposition. Includes sale of United Guaranty and Ascot Underwriting Holdings Limited, Ascot Corporate Name Limited and Ascot Employees Corporate Member Limited (Ascot).

(b) Includes discount on retroactive reinsurance in the amount of $53 million and $1.5 billion for the three- and nine-month periods ended September 30, 2017, respectively.

(c) Includes $6 million and $11 million for the 2011 retroactive reinsurance agreement with NICO covering U.S. asbestos exposures for the three- and nine-month periods ended September 30, 2017, respectively.

(d) Represents change in loss reserves included in our pending sale of certain of our insurance operations to Fairfax for the three- and nine-month periods ended September 30, 2017. Upon consummation of the sale, we may retain a portion of these reserves through reinsurance arrangements.

On January 20, 2017, we entered into an adverse development reinsurance agreement with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway Inc. (Berkshire), under which we transferred to NICO 80 percent of the reserve risk on substantially all of our U.S. Commercial long-tail exposures for accident years 2015 and prior. Under this agreement, we ceded to NICO 80 percent of the paid losses on subject business paid on or after January 1, 2016 in excess of $25 billion of net paid losses, up to an aggregate limit of $25 billion. At NICO’s 80 percent share, NICO’s limit of liability under the contract is $20 billion. We account for this transaction as retroactive reinsurance. We paid total consideration, including interest, of $10.2 billion. The consideration was placed into a collateral trust account as security for NICO’s claim payment obligations, and Berkshire has provided a parental guarantee to secure the obligations of NICO under the agreement.

On June 14, 2017, a catastrophic fire occurred at Grenfell Tower, a 24-story residential housing block in London, UK, resulting in damage to the property and loss of lives. As of September 30, 2017, our net exposure to loss on this event was not estimable as the forensic investigation was incomplete and the list of potential insureds (and any potential liability) was unclear. There may also be other policyholders involved as the matter evolves.

Discounting of Loss Reserves

At September 30, 2017, the loss reserves reflect a net loss reserve discount of $1.8 billion, including tabular and non-tabular calculations based upon the following assumptions:

Certain asbestos claims are discounted when allowed by the regulator and when payments are fixed and determinable, based on the investment yields of the companies and the payout pattern for the claims. At December 31, 2016, the discount for asbestos reserves was fully amortized.
The tabular workers’ compensation discount is calculated based on a 3.5 percent interest rate and the mortality rate used in the 2007 U.S. Life Table.
The non-tabular workers’ compensation discount is calculated separately for companies domiciled in New York and Pennsylvania, and follows the statutory regulations (prescribed or permitted) for each state. For New York companies, the discount is based on a 5 percent interest rate and the companies’ own payout patterns. In 2012, for Pennsylvania companies, the statute has specified discount factors for accident years 2001 and prior, which are based on a 6 percent interest rate and an industry payout pattern. For accident years 2002 and subsequent, the discount is based on the payout patterns and investment yields of the companies.

In 2013, our Pennsylvania regulator approved use of a consistent discount rate (U.S. Treasury rate plus a liquidity premium) to all of our workers’ compensation reserves in our Pennsylvania-domiciled companies, as well as our use of updated payout patterns specific to our primary and excess workers compensation portfolios.

In the fourth quarter of 2016, our Pennsylvania and Delaware regulators approved an updated discount rate that we applied to our workers’ compensation loss reserves for the legal entities domiciled in those states.

The discount consists of $491 million of tabular discount and $1.3 billion of non-tabular discount for workers’ compensation. During the nine-month periods ended September 30, 2017 and 2016, the charge from changes in discount of $283 million and $321 million, respectively, were recorded as part of the policyholder benefits and losses incurred in the Condensed Consolidated Statement of Income. For the nine-month period ended September 30, 2017, the discount on workers’ compensation reserves decreased by $1.5 billion due to the impact of the adverse development reinsurance agreement with NICO.

During the nine-month period ended September 30, 2017, the forward yield curve component of the discount rates decreased reflecting a decline in the U.S. Treasury rates which resulted in a $138 million decrease in the loss reserve discount.

During the nine-month period ended September 30, 2016, the forward yield curve component of the discount rates decreased reflecting a decline in U.S. Treasury rates which resulted in a $295 million decrease in the loss reserve discount.

The following table presents the components of the loss reserve discount discussed above:

	September 30, 2017						December 31, 2016
			Legacy Portfolio						Legacy Portfolio
	U.S. Liability		- Property and				U.S. Liability		- Property and
	and		Casualty run-off				and		Casualty run-off
(in millions)	Financial Lines		Insurance Lines			Total	Financial Lines		Insurance Lines			Total
U.S. workers' compensation	$	2,376	$	911	$	3,287	$	2,583	$	987	$	3,570
Retroactive reinsurance		(1,494)		-		(1,494)		-		-		-
Total reserve discount^*	$	882	$	911	$	1,793	$	2,583	$	987	$	3,570

* Excludes $167 million and $181 million of discount related to certain long tail liabilities in the United Kingdom at September 30, 2017 and December 31, 2016, respectively.

The following tables present increase (decrease) in the net loss reserve discount:

Three Months Ended September 30,	2017						2016
			Legacy Portfolio						Legacy Portfolio
	U.S. Liability		- Property and				U.S. Liability		- Property and
	and		Casualty run-off				and		Casualty run-off
(in millions)	Financial Lines		Insurance Lines			Total	Financial Lines		Insurance Lines			Total
Current accident year	$	33	$	-	$	33	$	37	$	-	$	37
Accretion and other adjustments
to prior year discount		(100)		25		(75)		(43)		(12)		(55)
Effect of interest rate changes		(7)		1		(6)		(11)		(3)		(14)
Net reserve discount
benefit (charge)		(74)		26		(48)		(17)		(15)		(32)
Change in discount on loss reserves
ceded under retroactive reinsurance^(a)		53		-		53		-		-		-
Net change in total reserve
discount^(b)	$	(21)	$	26	$	5	$	(17)	$	(15)	$	(32)
Comprised of:
U.S. Workers' compensation	$	(21)	$	26	$	5	$	(17)	$	(15)	$	(32)
Asbestos	$	-	$	-	$	-	$	-	$	-	$	-

Nine Months Ended September 30,	2017						2016
			Legacy Portfolio						Legacy Portfolio
	U.S. Liability		- Property and				U.S. Liability		- Property and
	and		Casualty run-off				and		Casualty run-off
(in millions)	Financial Lines		Insurance Lines			Total	Financial Lines		Insurance Lines			Total
Current accident year	$	94	$	-	$	94	$	118	$	-	$	118
Accretion and other adjustments
to prior year discount		(205)		(34)		(239)		(104)		(42)		(146)
Effect of interest rate changes		(96)		(42)		(138)		(196)		(99)		(295)
Net reserve discount
benefit (charge)		(207)		(76)		(283)		(182)		(141)		(323)
Change in discount on loss reserves
ceded under retroactive reinsurance		(1,494)		-		(1,494)		-		-		-
Net change in total reserve
discount^(c)	$	(1,701)	$	(76)	$	(1,777)	$	(182)	$	(141)	$	(323)
Comprised of:
U.S. Workers' compensation	$	(1,701)	$	(76)	$	(1,777)	$	(182)	$	(139)	$	(321)
Asbestos	$	-	$	-	$	-	$	-	$	(2)	$	(2)

(a) Included in the deferred gain from retroactive reinsurance reported in other liabilities.

(b) Excludes $(18) million and $4 million of discount related to certain long tail liabilities in the United Kingdom for the three-month period ended September 30, 2017 and 2016, respectively.

(c) Excludes $20 million and $(16) million of discount related to certain long tail liabilities in the United Kingdom for the nine-month period ended September 30, 2017 and 2016, respectively.

CONTINGENCIES, COMMITMENTS AND GUARANTEES	9 Months Ended
CONTINGENCIES, COMMITMENTS AND GUARANTEES	Sep. 30, 2017
CONTINGENCIES, COMMITMENTS AND GUARANTEES
CONTINGENCIES, COMMITMENTS AND GUARANTEES	11. 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 operations, litigation arising from claims settlement activities is generally considered in the establishment of our loss reserves. 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 (SDNY) 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. In 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 paid the settlement amount of $960 million. 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 in or transferred to the SDNY, 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 SDNY 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. The remaining Individual Securities Litigation pending in the SDNY was brought by a series of institutional investor funds. After the court’s decision granting AIG’s motion to dismiss plaintiff’s claims in part, the claims in the remaining action are limited to a claim under Section 10(b) of the Exchange Act for allegedly materially false and misleading statements in AIG’s public disclosures from February 8, 2008 to September 16, 2008 relating to, among other things, the Subprime Exposure Issues. On January 17, 2017, AIG filed a motion for summary judgment to dismiss the vast majority of the institutional investor funds’ remaining claims. 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 Individual Securities Litigations. The trial court overruled AIG’s demurrer to dismiss all of the claims asserted in the California Action, which AIG appealed to the California Court of Appeals for the Fourth Appellate District. In light of a Supreme Court decision addressing the timeliness of claims like those asserted in the California Action, plaintiffs filed a voluntary request for dismissal on June 30, 2017, which has the same effect as a judgment of dismissal. On July 18, 2017, the California Court of Appeals for the Fourth Appellate District dismissed AIG’s appeal as moot. 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 May 9, 2017, the Court of Appeals for the Federal Circuit: (i) vacated the Court of Federal Claims judgment on the Credit Agreement Shareholder Class and remanded with instructions for dismissal of that class, and (ii) affirmed the finding of no liability with respect to the Reverse Stock Split Class. On October 6, 2017, SICO filed a petition for writ of certiorari with the United States Supreme Court. 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. 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 $3.1 billion at September 30, 2017. 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 September 30, 2017 was $139 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. AIG Parent files a consolidated federal income tax return with certain subsidiaries and acts as an agent for the consolidated tax group when making payments to the Internal Revenue Service (IRS). AIG Parent and its subsidiaries have adopted, pursuant to a written agreement, a method of allocating consolidated federal income taxes. Under an Amended and Restated Tax Payment Allocation Agreement dated June 6, 2011 between AIG Parent and one of its Bermuda-domiciled insurance subsidiaries, AIG Life of Bermuda, Ltd. (AIGB), AIG Parent has agreed to indemnify AIGB for any tax liability (including interest and penalties) resulting from adjustments made by the IRS or other appropriate authorities to taxable income, special deductions or credits in connection with investments made by AIGB in certain affiliated entities. Asset Dispositions 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 For additional discussion on commitments and guarantees associated with VIEs see Note 8 to the Condensed Consolidated Financial Statements. For additional disclosures about derivatives see Note 9 to the Condensed Consolidated Financial Statements. For additional disclosures about guarantees of outstanding debt see Note 16 to the Condensed Consolidated Financial Statements

EQUITY

9 Months Ended

Sep. 30, 2017

EQUITY

EQUITY

12. Equity

Shares Outstanding

The following table presents a rollforward of outstanding shares:

Nine Months Ended September 30, 2017	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Shares, beginning of year	1,906,671,492	(911,335,651)	995,335,841
Shares issued	-	3,221,892	3,221,892
Shares repurchased	-	(99,677,646)	(99,677,646)
Shares, end of period	1,906,671,492	(1,007,791,405)	898,880,087

Dividends

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.

The following table presents record date, payment date and dividends paid per share on AIG Common Stock:

			Dividends Paid
Record Date	Payment Date		Per Share
September 15, 2017	September 29, 2017	$	0.32
June 14, 2017	June 28, 2017		0.32
March 15, 2017	March 29, 2017		0.32

September 15, 2016	September 29, 2016		0.32
June 13, 2016	June 27, 2016		0.32
March 14, 2016	March 28, 2016		0.32

For a discussion of restrictions on payments of dividends to AIG Parent by its subsidiaries see Note 19 to the Consolidated Financial Statements in the 2016 Annual Report.

Repurchase of AIG Common Stock

The following table presents repurchases of AIG Common Stock and warrants to purchase shares of AIG Common Stock:

Nine Months Ended September 30,
(in millions)		2017		2016
Aggregate repurchases of common stock	$	6,275	$	8,506
Total number of common shares repurchased		100		153
Aggregate repurchases of warrants	$	3	$	263
Total number of warrants repurchased^*		-		15

* For the nine-month period ended September 30, 2017, we repurchased 185,000 warrants to purchase shares of AIG Common Stock.

Our Board of Directors has authorized the repurchase of shares of AIG Common Stock through a series of actions. On May 3, 2017, our Board of Directors authorized an additional increase of $2.5 billion to its previous share repurchase authorization. As of September 30, 2017, approximately $2.2 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.

The timing of any future repurchases will depend on market conditions, our business and strategic plans, 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		Unrealized
		Maturity Securities on		Appreciation		Foreign		Retirement
		Which Other-Than-		(Depreciation)		Currency		Plan
		Temporary Credit		of All Other		Translation		Liabilities
(in millions)		Impairments Were Taken		Investments		Adjustments		Adjustment		Total
Balance, December 31, 2016, net of tax	$	426	$	6,405	$	(2,629)	$	(972)	$	3,230
Change in unrealized appreciation of investments		564		3,693		-		-		4,257
Change in deferred policy acquisition costs adjustment and other^*		(56)		(1,269)		-		-		(1,325)
Change in future policy benefits		-		(425)		-		-		(425)
Change in foreign currency translation adjustments		-		-		474		-		474
Change in net actuarial loss		-		-		-		134		134
Change in prior service cost		-		-		-		6		6
Change in deferred tax liability		(178)		(159)		(27)		(48)		(412)
Total other comprehensive income		330		1,840		447		92		2,709
Noncontrolling interests		-		-		-		-		-
Balance, September 30, 2017, net of tax	$	756	$	8,245	$	(2,182)	$	(880)	$	5,939

Balance, December 31, 2015, net of tax	$	696	$	5,566	$	(2,879)	$	(846)	$	2,537
Change in unrealized appreciation (depreciation) of investments		(318)		10,873		-		-		10,555
Change in deferred policy acquisition costs adjustment and other		(40)		(887)		-		-		(927)
Change in future policy benefits		-		(2,099)		-		-		(2,099)
Change in foreign currency translation adjustments		-		-		179		-		179
Change in net actuarial loss		-		-		-		13		13
Change in prior service credit		-		-		-		(20)		(20)
Change in deferred tax asset (liability)		248		(1,585)		153		3		(1,181)
Total other comprehensive income (loss)		(110)		6,302		332		(4)		6,520
Noncontrolling interests		-		-		-		-		-
Balance, September 30, 2016, net of tax	$	586	$	11,868	$	(2,547)	$	(850)	$	9,057

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

The following table presents the other comprehensive income reclassification adjustments for the three- and nine-month periods ended September 30, 2017 and 2016, respectively:

		Unrealized Appreciation
		(Depreciation) of Fixed
		Maturity Securities on		Unrealized
		Which Other-Than-		Appreciation		Foreign		Retirement
		Temporary Credit		(Depreciation)		Currency		Plan
		Impairments Were		of All Other		Translation		Liabilities
(in millions)		Taken		Investments		Adjustment		Adjustment		Total
Three Months Ended September 30, 2017
Unrealized change arising during period	$	160	$	831	$	328	$	38	$	1,357
Less: Reclassification adjustments
included in net income		10		133		-		(58)		85
Total other comprehensive income,
before income tax expense		150		698		328		96		1,272
Less: Income tax expense		53		206		3		33		295
Total other comprehensive income,
net of income tax expense	$	97	$	492	$	325	$	63	$	977
Three Months Ended September 30, 2016
Unrealized change arising during period	$	147	$	816	$	21	$	(8)	$	976
Less: Reclassification adjustments
included in net income		6		163		-		(3)		166
Total other comprehensive income,
before income tax expense (benefit)		141		653		21		(5)		810
Less: Income tax expense (benefit)		(76)		187		(90)		(9)		12
Total other comprehensive income,
net of income tax expense (benefit)	$	217	$	466	$	111	$	4	$	798
Nine Months Ended September 30, 2017
Unrealized change arising during period	$	553	$	2,610	$	474	$	62	$	3,699
Less: Reclassification adjustments
included in net income		45		611		-		(78)		578
Total other comprehensive income,
before income tax expense		508		1,999		474		140		3,121
Less: Income tax expense		178		159		27		48		412
Total other comprehensive income,
net of income tax expense	$	330	$	1,840	$	447	$	92	$	2,709
Nine Months Ended September 30, 2016
Unrealized change arising during period	$	(252)	$	8,733	$	179	$	(18)	$	8,642
Less: Reclassification adjustments
included in net income		106		846		-		(11)		941
Total other comprehensive income (loss),
before income tax expense (benefit)		(358)		7,887		179		(7)		7,701
Less: Income tax expense (benefit)		(248)		1,585		(153)		(3)		1,181
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(110)	$	6,302	$	332	$	(4)	$	6,520

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 September 30,
(in millions)		2017		2016
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken

Investments		$	10	$	6		Other realized capital gains
Total			10		6
Unrealized appreciation (depreciation) of all other investments
Investments			48		182		Other realized capital gains
Deferred acquisition costs adjustment			85		(19)		Amortization of deferred policy acquisition costs
Future policy benefits			-		-		Policyholder benefits and losses incurred
Total			133		163
Change in retirement plan liabilities adjustment
Prior - service credit			-		4		*
Actuarial losses			(58)		(7)		*
Total			(58)		(3)
Total reclassifications for the period		$	85	$	166
	Amount Reclassified from Accumulated Other Comprehensive Income					Affected Line Item in the Condensed Consolidated Statements of Income

	Nine Months Ended September 30,
(in millions)		2017		2016
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken

Investments		$	45	$	106		Other realized capital gains
Total			45		106
Unrealized appreciation (depreciation) of all other investments
Investments			415		843		Other realized capital gains
Deferred acquisition costs adjustment			196		3		Amortization of deferred policy acquisition costs
Future policy benefits			-		-		Policyholder benefits and losses incurred
Total			611		846
Change in retirement plan liabilities adjustment
Prior - service credit			1		13		*
Actuarial losses			(79)		(24)		*
Total			(78)		(11)		-
Total reclassifications for the period		$	578	$	941		-

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

EARNINGS PER SHARE (EPS)

9 Months Ended

Sep. 30, 2017

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)

13. Earnings Per Share (EPS)

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

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(dollars in millions, except per share data)		2017		2016		2017		2016
Numerator for EPS:
Income (loss) from continuing operations	$	(1,712)	$	433	$	609	$	2,211
Less: Net income (loss) from continuing operations attributable to noncontrolling interests		26		(26)		40		(35)
Income (loss) attributable to AIG common shareholders from continuing operations		(1,738)		459		569		2,246
Income (loss) from discontinued operations, net of income tax expense		(1)		3		7		(54)
Net income (loss) attributable to AIG common shareholders	$	(1,739)	$	462	$	576	$	2,192
Denominator for EPS:
Weighted average shares outstanding - basic		908,667,044		1,071,295,892		938,130,832		1,113,650,878
Dilutive shares		-		31,104,878		23,165,114		29,049,329
Weighted average shares outstanding - diluted^{(a) (b)}		908,667,044		1,102,400,770		961,295,946		1,142,700,207
Income per common share attributable to AIG:
Basic:
Income (loss) from continuing operations	$	(1.91)	$	0.43	$	0.60	$	2.02
Income (loss) from discontinued operations	$	-	$	-	$	0.01	$	(0.05)
Income (loss) attributable to AIG	$	(1.91)	$	0.43	$	0.61	$	1.97
Diluted:
Income (loss) from continuing operations	$	(1.91)	$	0.42	$	0.59	$	1.97
Income (loss) from discontinued operations	$	-	$	-	$	0.01	$	(0.05)
Income (loss) attributable to AIG	$	(1.91)	$	0.42	$	0.60	$	1.92

Shares in the diluted EPS calculation represent basic shares for the three-month period ended September 30, 2017 due to the net loss in that period. The shares excluded from the calculation were 22,459,868 shares.
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 2.4 million and 2.0 million for the three- and nine-month periods ended September 30, 2017, respectively, and 0.1 million and 0.2 million for the three- and nine-month periods ended September 30, 2016, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS

9 Months Ended

Sep. 30, 2017

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS

14. 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.

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 September 30, 2017
Components of net periodic benefit cost:
Service cost	$	(5)	$	7	$	2	$	-	$	1	$	1
Interest cost		41		4		45		2		1		3
Expected return on assets		(66)		(6)		(72)		-		-		-
Amortization of prior service credit		-		-		-		-		-		-
Amortization of net (gain) loss		6		3		9		-		-		-
Curtailment gain		-		(5)		(5)		-		-		-
Settlement (Credit)/Charges		50		-		50		-		-		-
Net periodic benefit cost (credit)	$	26	$	3	$	29	$	2	$	2	$	4
Three Months Ended September 30, 2016
Components of net periodic benefit cost:
Service cost	$	6	$	8	$	14	$	1	$	-	$	1
Interest cost		45		5		50		2		-		2
Expected return on assets		(72)		(7)		(79)		-		-		-
Amortization of prior service credit		-		-		-		(2)		-		(2)
Amortization of net loss		7		2		9		(1)		1		-
Curtailment gain		-		(2)		(2)		-		-		-
Settlement (Credit)/Charges		-		-		-		-		-		-
Net periodic benefit cost (credit)	$	(14)	$	6	$	(8)	$	-	$	1	$	1
Nine Months Ended September 30, 2017
Components of net periodic benefit cost:
Service cost	$	8	$	23	$	31	$	1	$	2	$	3
Interest cost		126		12		138		5		3		8
Expected return on assets		(194)		(18)		(212)		-		-		-
Amortization of prior service credit		-		-		-		(1)		-		(1)
Amortization of net (gain) loss		20		9		29		-		-		-
Curtailment gain		-		(5)		(5)		-		-		-
Settlement (Credit)/Charges		50		-		50		-		-		-
Net periodic benefit cost (credit)	$	10	$	21	$	31	$	5	$	5	$	10
Nine Months Ended September 30, 2016
Components of net periodic benefit cost:
Service cost	$	15	$	23	$	38	$	2	$	2	$	4
Interest cost		136		15		151		5		2		7
Expected return on assets		(219)		(20)		(239)		-		-		-
Amortization of prior service credit		-		-		-		(7)		-		(7)
Amortization of net loss		19		6		25		(1)		1		-
Curtailment gain		-		(5)		(5)		-		-		-
Settlement (Credit)/Charges		-		-		-		-		-		-
Net periodic benefit cost (credit)	$	(49)	$	19	$	(30)	$	(1)	$	5	$	4

For the nine-month period ended September 30, 2017, we contributed $310 million to the U.S. AIG Retirement Plan.

The lump sum benefit payments through September 30, 2017 exceeded the annual service cost and interest cost components of the pension expense resulting in a settlement loss as of September 30, 2017.

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2017
INCOME TAXES
INCOME TAXES	15. Income Taxes Interim Tax Calculation Method We use the estimated annual effective tax rate method in computing our interim tax provision. Certain items, including those deemed to be unusual, infrequent or that cannot be reliably estimated, are excluded from the estimated annual effective tax rate. In these cases, the actual tax expense or benefit is reported in the same period as the related item. Certain tax effects are also not reflected in the estimated annual effective tax rate, primarily certain changes in the realizability of deferred tax assets and uncertain tax positions. As of September 30, 2017, the annual effective tax rate includes the tax effects of significant catastrophe losses recognized in the third quarter of 2017. Interim Tax Expense (Benefit) For the three-month period ended September 30, 2017, the effective tax rate on loss from continuing operations was 38.9 percent. The effective tax rate on loss from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits associated with tax exempt 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 tax charges related to losses in our European operations taxed at a statutory tax rate lower than 35 percent. For the nine-month period ended September 30, 2017, the effective tax rate on income from continuing operations was not meaningful, due to a tax benefit on pre-tax income. The tax benefit was primarily due to tax exempt income, reclassifications from accumulated other comprehensive income to income from continuing operations related to the disposal of available for sale securities and excess tax deductions related to share based compensation payments recorded through the income statement in accordance with ASU 2016-09, partially offset by tax charges related to increases in uncertain tax positions associated with the impact of settlement discussions with the IRS related to certain open tax issues and losses in our European operations taxed at a statutory tax rate lower than 35 percent. For the three-month period ended September 30, 2016, the effective tax rate on income from continuing operations was 41.2 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to foreign exchange losses incurred by our foreign subsidiaries related to the weakening of the British pound following the Brexit vote taxed at a statutory tax rate lower than 35 percent, partially offset by 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. For the nine-month period ended September 30, 2016, the effective tax rate on income from continuing operations was 34.6 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 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 and foreign exchange losses incurred by our foreign subsidiaries related to the weakening of the British pound following the Brexit vote taxed at a statutory tax rate lower than 35 percent. 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 September 30, 2017, 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 nine-month periods ended September 30, 2017, recent changes in market conditions, including interest rate fluctuations, impacted the unrealized tax gains and losses in the U.S. Life Insurance Companies’ available for sale securities portfolio, resulting in a deferred tax liability related to net unrealized tax capital gains. As of June 30, 2017, based on all available evidence, we concluded that the valuation allowance should be released. As a result, for the six-month period ended June 30, 2017, we released $468 million 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 allocated to other comprehensive income. As of September 30, 2017, we continue to be in an overall unrealized tax gain position with respect to the U.S. Life Insurance Companies’ available for sale securities portfolio and thus concluded no valuation allowance is necessary in the U.S. Life Insurance Companies’ available for sale securities portfolio. For the three- and nine-month periods ended September 30, 2017, recent changes in market conditions, including interest rate fluctuations, impacted the unrealized tax gains and losses in the U.S. Non-Life Companies’ available for sale securities portfolio, resulting in a deferred tax liability related to net unrealized tax capital gains. As of June 30, 2017, based on all available evidence, we concluded that the valuation allowance should be released. As a result, for the six-month period ended June 30, 2017, we released $260 million of valuation allowance associated with the unrealized tax losses in the U.S. Non-Life Companies’ available for sale securities portfolio, all of which was allocated to other comprehensive income. As of September 30, 2017, we continue to be in an overall unrealized tax gain position with respect to the U.S. Non-Life Companies’ available for sale securities portfolio and thus concluded no valuation allowance is necessary in the U.S. Non-Life Companies’ available for sale securities portfolio. For the three- and nine-month periods ended September 30, 2017, we recognized net increases of $24 million and $1 million, respectively, in our deferred tax asset valuation allowance associated with certain foreign jurisdictions, primarily attributable to current year activity. For both the three- and nine-month periods ended September 30, 2017, we recognized a $26 million decrease in our deferred tax asset valuation allowance associated with certain state jurisdictions, primarily as a result of the beneficial impact of tax law changes enacted in the third quarter of 2017. 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. The Southern District of New York denied our summary judgment motion and upon AIG’s appeal, the U.S. Court of Appeals for the Second Circuit (the Second Circuit) affirmed the denial. AIG’s petition for certiorari to the U.S. Supreme Court from the decision of the Second Circuit was denied on March 7, 2016. As a result, the case has been 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 September 30, 2017 and December 31, 2016, our unrecognized tax benefits, excluding interest and penalties were $4.6 billion and $4.5 billion, respectively. The nine-month period ended September 30, 2017 reflects increases in unrecognized tax benefits associated with the impact of settlement discussions with the IRS related to certain open tax issues. At both September 30, 2017 and December 31, 2016, our unrecognized tax benefits related to tax positions that, if recognized, would not affect the effective tax rate because they relate to such factors as the timing, rather than the permissibility, of the deduction were $0.1 billion. Accordingly, at September 30, 2017 and December 31, 2016, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $4.5 billion and $4.4 billion, respectively. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At September 30, 2017 and December 31, 2016, we had accrued liabilities of $1.3 billion and $1.2 billion, respectively, for the payment of interest (net of the federal benefit) and penalties. For the nine-month periods ended September 30, 2017 and 2016, we accrued expense (benefit) of $102 million and $(16) million, respectively, for the payment of interest and penalties. We regularly evaluate adjustments proposed by taxing authorities. At September 30, 2017, 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

9 Months Ended

Sep. 30, 2017

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

16. Information Provided in Connection with Outstanding Debt

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

Condensed Consolidating Balance Sheets

		American
		International					Reclassifications
		Group, Inc.				Other		and	Consolidated
(in millions)	(As Guarantor)			AIGLH		Subsidiaries		Eliminations		AIG
September 30, 2017
Assets:
Short-term investments	$	2,675	$	-	$	10,659	$	(3,559)	$	9,775
Other investments^(a)		5,796		-		305,552		-		311,348
Total investments		8,471		-		316,211		(3,559)		321,123
Cash		3		2		2,428		-		2,433
Loans to subsidiaries^(b)		35,014		-		574		(35,588)		-
Investment in consolidated subsidiaries^(b)		43,014		31,323		-		(74,337)		-
Other assets, including deferred income taxes		21,483		251		160,018		(2,235)		179,517
Assets held for sale		-		-		-		-		-
Total assets	$	107,985	$	31,576	$	479,231	$	(115,719)	$	503,073
Liabilities:
Insurance liabilities	$	-	$	-	$	282,469	$	-	$	282,469
Long-term debt		21,480		642		8,917		-		31,039
Other liabilities, including intercompany balances^(a)		13,463		184		108,873		(5,967)		116,553
Loans from subsidiaries^(b)		574		-		35,014		(35,588)		-
Liabilities held for sale		-		-		-		-		-
Total liabilities		35,517		826		435,273		(41,555)		430,061
Total AIG shareholders’ equity		72,468		30,750		43,414		(74,164)		72,468
Non-redeemable noncontrolling interests		-		-		544		-		544
Total equity		72,468		30,750		43,958		(74,164)		73,012
Total liabilities and equity	$	107,985	$	31,576	$	479,231	$	(115,719)	$	503,073

December 31, 2016
Assets:
Short-term investments	$	4,424	$	-	$	13,218	$	(5,340)	$	12,302
Other investments^(a)		7,154		-		308,719		-		315,873
Total investments		11,578		-		321,937		(5,340)		328,175
Cash		2		34		1,832		-		1,868
Loans to subsidiaries^(b)		34,692		-		576		(35,268)		-
Investment in consolidated subsidiaries^(b)		42,582		27,309		-		(69,891)		-
Other assets, including deferred income taxes		24,099		239		140,743		(4,059)		161,022
Assets held for sale		-		-		7,199		-		7,199
Total assets	$	112,953	$	27,582	$	472,287	$	(114,558)	$	498,264
Liabilities:
Insurance liabilities	$	-	$	-	$	275,120	$	-	$	275,120
Long-term debt		21,405		642		8,865		-		30,912
Other liabilities, including intercompany balances^(a)		14,671		194		103,975		(9,572)		109,268
Loans from subsidiaries^(b)		577		-		34,691		(35,268)		-
Liabilities held for sale		-		-		6,106		-		6,106
Total liabilities		36,653		836		428,757		(44,840)		421,406
Total AIG shareholders’ equity		76,300		26,746		42,972		(69,718)		76,300
Non-redeemable noncontrolling interests		-		-		558		-		558
Total equity		76,300		26,746		43,530		(69,718)		76,858
Total liabilities and equity	$	112,953	$	27,582	$	472,287	$	(114,558)	$	498,264

(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 September 30, 2017
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	(2,098)	$	1,138	$	-	$	960	$	-
Other income		225		-		11,455		71		11,751
Total revenues		(1,873)		1,138		11,455		1,031		11,751
Expenses:
Interest expense		236		12		44		(2)		290
(Gain) loss on extinguishment of debt		2		-		(1)		-		1
Other expenses		177		1		14,154		(69)		14,263
Total expenses		415		13		14,197		(71)		14,554
Income (loss) from continuing operations before income tax
benefit		(2,288)		1,125		(2,742)		1,102		(2,803)
Income tax benefit		(549)		(4)		(538)		-		(1,091)
Income (loss) from continuing operations		(1,739)		1,129		(2,204)		1,102		(1,712)
Loss from discontinued operations, net of income taxes		-		-		(1)		-		(1)
Net income (loss)		(1,739)		1,129		(2,205)		1,102		(1,713)
Less:
Net income from continuing operations attributable to
noncontrolling interests		-		-		26		-		26
Net income (loss) attributable to AIG	$	(1,739)	$	1,129	$	(2,231)	$	1,102	$	(1,739)
Three Months Ended September 30, 2016
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,002	$	528	$	-	$	(1,530)	$	-
Other income		145		-		12,952		(243)		12,854
Total revenues		1,147		528		12,952		(1,773)		12,854
Expenses:
Interest expense		249		12		69		(1)		329
Gain on extinguishment of debt		-		-		(14)		-		(14)
Other expenses		238		1		11,821		(258)		11,802
Total expenses		487		13		11,876		(259)		12,117
Income (loss) from continuing operations before income tax
expense (benefit)		660		515		1,076		(1,514)		737
Income tax expense (benefit)		197		(4)		111		-		304
Income (loss) from continuing operations		463		519		965		(1,514)		433
Income (loss) from discontinued operations, net of income taxes		(1)		-		4		-		3
Net income (loss)		462		519		969		(1,514)		436
Less:
Net loss from continuing operations attributable to
noncontrolling interests		-		-		(26)		-		(26)
Net income (loss) attributable to AIG	$	462	$	519	$	995	$	(1,514)	$	462


		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Nine Months Ended September 30, 2017
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	794	$	2,553	$	-	$	(3,347)	$	-
Other income		653		-		36,085		147		36,885
Total revenues		1,447		2,553		36,085		(3,200)		36,885
Expenses:
Interest expense		719		37		129		(5)		880
(Gain) loss on extinguishment of debt		2		-		(6)		-		(4)
Other expenses		693		2		34,865		(142)		35,418
Total expenses		1,414		39		34,988		(147)		36,294
Income (loss) from continuing operations before income tax
expense (benefit)		33		2,514		1,097		(3,053)		591
Income tax expense (benefit)		(544)		(12)		538		-		(18)
Income (loss) from continuing operations		577		2,526		559		(3,053)		609
Income (loss) from discontinued operations, net of income taxes		(1)		-		8		-		7
Net income (loss)		576		2,526		567		(3,053)		616
Less:
Net income from continuing operations attributable to
noncontrolling interests		-		-		40		-		40
Net income (loss) attributable to AIG	$	576	$	2,526	$	527	$	(3,053)	$	576
Nine Months Ended September 30, 2016
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	2,226	$	(267)	$	-	$	(1,959)	$	-
Other income		209		5		39,833		(690)		39,357
Total revenues		2,435		(262)		39,833		(2,649)		39,357
Expenses:
Interest expense		743		39		177		(4)		955
(Gain) loss on extinguishment of debt		77		-		(1)		-		76
Other expenses		686		15		34,946		(702)		34,945
Total expenses		1,506		54		35,122		(706)		35,976
Income (loss) from continuing operations before income tax
expense (benefit)		929		(316)		4,711		(1,943)		3,381
Income tax expense (benefit)		(1,265)		(17)		2,452		-		1,170
Income (loss) from continuing operations		2,194		(299)		2,259		(1,943)		2,211
Loss from discontinued operations, net of income taxes		(2)		-		(52)		-		(54)
Net income (loss)		2,192		(299)		2,207		(1,943)		2,157
Less:
Net loss from continuing operations attributable to
noncontrolling interests		-		-		(35)		-		(35)
Net income (loss) attributable to AIG	$	2,192	$	(299)	$	2,242	$	(1,943)	$	2,192

* 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 September 30, 2017
Net income (loss)	$	(1,739)	$	1,129	$	(2,205)	$	1,102	$	(1,713)
Other comprehensive income (loss)		977		1,274		(30,625)		29,351		977
Comprehensive income (loss)		(762)		2,403		(32,830)		30,453		(736)
Total comprehensive income attributable to noncontrolling interests		-		-		26		-		26
Comprehensive income (loss) attributable to AIG	$	(762)	$	2,403	$	(32,856)	$	30,453	$	(762)
Three Months Ended September 30, 2016
Net income (loss)	$	462	$	519	$	969	$	(1,514)	$	436
Other comprehensive income (loss)		798		(56)		7		49		798
Comprehensive income (loss)		1,260		463		976		(1,465)		1,234
Total comprehensive loss attributable to noncontrolling interests		-		-		(26)		-		(26)
Comprehensive income (loss) attributable to AIG	$	1,260	$	463	$	1,002	$	(1,465)	$	1,260
Nine Months Ended September 30, 2017
Net income (loss)	$	576	$	2,526	$	567	$	(3,053)	$	616
Other comprehensive income (loss)		2,709		7,056		18,864		(25,920)		2,709
Comprehensive income (loss)		3,285		9,582		19,431		(28,973)		3,325
Total comprehensive income attributable to noncontrolling interests		-		-		40		-		40
Comprehensive income (loss) attributable to AIG	$	3,285	$	9,582	$	19,391	$	(28,973)	$	3,285
Nine Months Ended September 30, 2016
Net income (loss)	$	2,192	$	(299)	$	2,207	$	(1,943)	$	2,157
Other comprehensive income (loss)		6,520		7,204		48,555		(55,759)		6,520
Comprehensive income (loss)		8,712		6,905		50,762		(57,702)		8,677
Total comprehensive loss attributable to noncontrolling interests		-		-		(35)		-		(35)
Comprehensive income (loss) attributable to AIG	$	8,712	$	6,905	$	50,797	$	(57,702)	$	8,712

Condensed Consolidating Statements of Cash Flows

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries^*		Eliminations^*		AIG
Nine Months Ended September 30, 2017
Net cash (used in) provided by operating activities	$	793	$	1,105	$	(8,773)	$	(2,320)	$	(9,195)
Cash flows from investing activities:
Sales of investments		5,428		-		58,914		(3,508)		60,834
Sales of divested businesses, net		40		-		565		-		605
Purchase of investments		(1,781)		-		(49,675)		3,508		(47,948)
Loans to subsidiaries - net		38		-		5		(43)		-
Contributions from (to) subsidiaries - net		990		-		-		(990)		-
Net change in restricted cash		-		-		(23)		-		(23)
Net change in short-term investments		1,925		-		890		-		2,815
Other, net		(17)		(4)		(1,488)		-		(1,509)
Net cash (used in) provided by investing activities		6,623		(4)		9,188		(1,033)		14,774
Cash flows from financing activities:
Issuance of long-term debt		1,108		-		1,297		-		2,405
Repayments of long-term debt		(1,354)		-		(1,397)		-		(2,751)
Purchase of common stock		(6,275)		-		-		-		(6,275)
Intercompany loans - net		(5)		-		(38)		43		-
Cash dividends paid		(884)		(1,133)		(1,187)		2,320		(884)
Other, net		(5)		-		1,394		990		2,379
Net cash (used in) provided by financing activities		(7,415)		(1,133)		69		3,353		(5,126)
Effect of exchange rate changes on cash		-		-		(21)		-		(21)
Change in cash		1		(32)		463		-		432
Cash at beginning of year		2		34		1,832		-		1,868
Change in cash of businesses held for sale		-		-		133		-		133
Cash at end of period	$	3	$	2	$	2,428	$	-	$	2,433

Nine Months Ended September 30, 2016
Net cash (used in) provided by operating activities	$	1,671	$	1,664	$	2,277	$	(3,859)	$	1,753
Cash flows from investing activities:
Sales of investments		3,242		-		59,669		(9,567)		53,344
Purchase of investments		(659)		-		(62,293)		9,567		(53,385)
Loans to subsidiaries - net		1,025		-		73		(1,098)		-
Contributions from (to) subsidiaries - net		1,593		-		-		(1,593)		-
Net change in restricted cash		-		-		(49)		-		(49)
Net change in short-term investments		1,006		-		(1,861)		-		(855)
Other, net		(179)		-		1,449		-		1,270
Net cash (used in) provided by investing activities		6,028		-		(3,012)		(2,691)		325
Cash flows from financing activities:
Issuance of long-term debt		3,831		-		7,599		-		11,430
Repayments of long-term debt		(1,454)		(62)		(6,167)		-		(7,683)
Purchase of common stock		(8,506)		-		-		-		(8,506)
Intercompany loans - net		(73)		(3)		(1,022)		1,098		-
Cash dividends paid		(1,051)		(1,709)		(2,150)		3,859		(1,051)
Other, net		(263)		-		3,183		1,593		4,513
Net cash (used in) provided by financing activities		(7,516)		(1,774)		1,443		6,550		(1,297)
Effect of exchange rate changes on cash		-		-		88		-		88
Change in cash		183		(110)		796		-		869
Cash at beginning of year		34		116		1,479		-		1,629
Cash at end of period	$	217	$	6	$	2,275	$	-	$	2,498

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 2017 period for:
Interest:
Third party	$	(791)	$	(47)	$	(208)	$	-	$	(1,046)
Intercompany		(1)		(1)		2		-		-
Taxes:
Income tax authorities	$	(324)	$	-	$	(166)	$	-	$	(490)
Intercompany		1,852		-		(1,852)		-		-
Cash (paid) received during the 2016 period for:
Interest:
Third party	$	(797)	$	(51)	$	(161)	$	-	$	(1,009)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(11)	$	-	$	(197)	$	-	$	(208)
Intercompany		782		-		(782)		-		-

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

Nine Months Ended September 30,
(in millions)		2017		2016
Intercompany non-cash financing and investing activities:
Capital contributions	$	198	$	3,086
Dividends received in the form of securities		735		4,055
Return of capital		26		-
Fixed maturity securities received in exchange for equity securities		-		440

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2017
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	17. Subsequent Events Dividends Declared On November 2, 2017, our Board of Directors declared a cash dividend on AIG Common Stock of $0.32 per share, payable on December 22, 2017 to shareholders of record on December 8, 2017.

BASIS OF PRESENTATION (Policies)	9 Months Ended
BASIS OF PRESENTATION (Policies)	Sep. 30, 2017
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 (loss reserves); 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 policy 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)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Held-for-Sale Classification	Held-For-Sale Classification We report a business as held-for-sale when management has approved the sale or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the next 12 months and certain other specified criteria are met. A business classified as held-for-sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized. Assets and liabilities related to the businesses classified as held-for-sale are separately reported in our Consolidated Balance Sheets beginning in the period in which the business is classified as held-for-sale. Fuji Life and AIG United Guaranty Insurance (Asia) Limited, both previously classified as held-for-sale, were sold on April 30, 2017 and July 1, 2017, respectively. At September 30, 2017, we had no businesses classified as held-for-sale.
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. We have developed an implementation plan to adopt this standard using the modified retrospective approach on its required effective date of January 1, 2018. Our analysis of revenues indicates that substantially all of our revenues are from sources excluded from the scope of the standard. For those revenue sources within the scope of the standard, we do not expect material changes in the timing or measurement of revenues based upon our current interpretation of the guidance. We continue to refine our assessment of the impacts this standard is expected to have on our applicable revenue sources, financial statements and related disclosures. However, as substantially all of our revenue sources are excluded from the scope of the standard, we do not expect the adoption of the standard to have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued an accounting standard that will require equity investments that do not follow the equity method of accounting or are not subject to consolidation to be measured at fair value with changes in fair value recognized in earnings, while financial liabilities for which fair value option accounting has been elected, changes in fair value due to instrument-specific credit risk will be presented separately in other comprehensive income. The standard allows the election to record equity investments without readily determinable fair values at cost, less impairment, adjusted for subsequent observable price changes with changes in the carrying value of the equity investments recorded in earnings. The standard also updates certain fair value disclosure requirements for financial instruments carried at amortized cost. We will adopt this standard on its effective date of January 1, 2018. Based on our initial review, substantially all of our assets and liabilities are not within the scope of the standard. We do not expect the adoption of the standard to have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. 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. We plan to adopt the standard on its effective date of January 1, 2019 using a modified retrospective approach upon adoption. We are currently quantifying the expected recognition on our balance sheet for a right to use asset and a lease liability as required by the standard. We do not expect the impact of the standard to have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Financial Instruments - Credit Losses In June 2016, the FASB issued an accounting standard that will change how entities account for credit losses for most financial assets, trade receivables and reinsurance receivables. The standard will replace the existing incurred loss impairment model with a new “current expected credit loss model” that generally will result in earlier recognition of credit losses. The standard will apply to financial assets subject to credit losses, including loans measured at amortized cost, reinsurance receivables and certain off-balance sheet credit exposures. Additionally, the impairment of available-for-sale debt securities, including purchased credit deteriorated securities, are subject to the new guidance and 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 on January 1, 2020, with early adoption permitted on January 1, 2019. We are continuing to develop our implementation plan to adopt the standard and are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures. While we expect an increase in our allowances for credit losses for the financial instruments within scope of the standard, given the objective of the new standard, the amount of any change will be dependent on our portfolios’ composition and quality at the adoption date as well as economic conditions and forecasts at that time. Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued an accounting standard that addresses diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments provide clarity on the treatment of eight specifically defined types of cash inflows and outflows. The standard is effective on January 1, 2018 using a retrospective transition method to each period presented or prospectively if adoption of an issue is impracticable. We continue to refine our analysis of certain cash flow types and intend to adopt this standard on its required effective date of January 1, 2018. The standard addresses presentation in the statement of cash flows only and will have no effect on our reported consolidated financial condition, results of operations or required disclosures. Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issued an accounting standard that will require an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, rather than when the asset is sold to a third party. We plan to adopt the standard on its effective date of January 1, 2018 using a modified retrospective approach upon adoption. We are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures. Restricted Cash In November 2016, the FASB issued an accounting standard that provides guidance on the presentation of restricted cash in the Statement of Cash Flows. Entities will be required to explain the changes during a reporting period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents in the statement of cash flows. We plan to adopt the standard retrospectively on its effective date of January 1, 2018. The standard addresses presentation of restricted cash in the Statement of Cash Flows only and will have no effect on our reported consolidated financial condition, results of operations or required disclosures. Clarifying the Definition of a Business In January 2017, the FASB issued an accounting standard that changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The new standard will require an entity to evaluate if substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar assets; if so, the set of transferred assets and activities is not a business. At a minimum, a set must include an input and a substantive process that together significantly contribute to the ability to create output. The standard is effective on January 1, 2018, with early adoption permitted. We are evaluating the timing of adoption and are assessing the impact of the standard on our reported consolidated financial condition, results of operations and cash flows. Because the standard requires prospective adoption, the impact is dependent on future acquisitions, dispositions and those entities that we consolidate due to obtaining a controlling financial interest. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued an accounting standard that eliminates the requirement to calculate the implied fair value of goodwill, through a hypothetical purchase price allocation, to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value not to exceed the total amount of goodwill allocated to that reporting unit. An entity should also consider income tax effects from tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The standard is effective on January 1, 2020, with early adoption permitted on testing dates after January 1, 2017. We are evaluating the timing of our adoption. The impact of the standard will be dependent on the market conditions of the reporting units at the time of adoption. Gains and Losses from the Derecognition of Nonfinancial Assets In February 2017, the FASB issued an accounting standard that clarifies the scope and application of Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets, to the sale or transfer of nonfinancial assets and in substance nonfinancial assets to noncustomers, including partial sales. The standard clarifies that a parent transferring its ownership interest in a consolidated subsidiary is within the scope of the accounting standard if substantially all of the fair value of the assets within that subsidiary are nonfinancial assets. The standard also clarifies that the derecognition of all businesses and nonprofit activities should be accounted for in accordance with the derecognition and deconsolidation guidance. The standard also eliminates the exception in the financial asset guidance for transfers of investments (including equity method investments) in real estate entities. An entity is required to apply the amendments in this update at the same time that it applies the amendments in revenues from contracts with customers. The standard is effective on January 1, 2018 and may be applied retrospectively to each period presented or through a cumulative effect adjustment to retained earnings at the date of adoption (modified retrospective approach). We are evaluating the timing of adoption and are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures. Improving the Presentation of Net Periodic Pension and Postretirement Benefit Cost In March 2017, the FASB issued an accounting standard that requires entities to report the service cost component of net periodic pension and postretirement benefit costs in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net periodic benefit costs are required to be separately presented in the income statement. The amendments also allow only the service cost component to be eligible for capitalization when applicable. We will adopt this standard on its effective date of January 1, 2018 by retrospectively presenting the service cost and other components, and prospectively capitalizing the service cost component. The standard addresses presentation of net periodic benefit costs in the income statement and will have no effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB issued an accounting standard that shortens the amortization period for certain callable debt securities held at a premium by requiring the premium to be amortized to the earliest call date. The standard does not require an accounting change for securities held at a discount, which continue to be amortized to maturity. We plan to adopt the standard retrospectively on its effective date, January 1, 2019. We do not expect the standard to have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Modification of Share-Based Payment Awards In May 2017, the FASB issued an accounting standard that provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. We will prospectively adopt this standard on its effective date of January 1, 2018 and do not expect the standard to have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Derivatives and Hedging In August 2017, the FASB issued an accounting standard that improves and expands hedge accounting for both financial and commodity risks. The provisions of the amendment are intended to better align the accounting with an entity’s risk management activities, enhance the transparency on how the economic results are presented in the financial statements and the footnote, and simplify the application of hedge accounting treatment. The standard is effective on January 1, 2019, with early adoption permitted. We are evaluating the timing of adoption and are assessing the impact of the standard on our reported consolidated financial condition, results of operations, cash flows and required disclosures.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Adopted	Accounting Standards Adopted During 2017 Derivative Contract Novations In March 2016, the Financial Accounting Standards Board (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. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not 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. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not 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. We adopted the standard on its required effective date of January 1, 2017. The adoption of this standard did not have a material effect on our consolidated financial condition, results of operations or cash flows. Interest Held through Related Parties that are under Common Control In October 2016, the FASB issued an accounting standard that amends the consolidation analysis for a reporting entity that is the single decision maker of a variable interest entity (VIE). The new guidance will require the decision maker’s evaluation of its interests held through related parties that are under common control on a proportionate basis (rather than in their entirety) when determining whether it is the primary beneficiary of that VIE. The amendment does not change the characteristics of a primary beneficiary. We adopted the standard on its required effective date of January 1, 2017. 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)

9 Months Ended

Sep. 30, 2017

SEGMENT INFORMATION

Schedule of continuing operations by reportable segment

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

Three Months Ended September 30,	2017				2016
				Pre-Tax				Pre-Tax
		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
Commercial Insurance
Liability and Financial Lines	$	2,848	$	(257)	$	3,379	$	948
Property and Special Risks		1,744		(2,605)		2,037		(263)
Total Commercial Insurance		4,592		(2,862)		5,416		685
Consumer Insurance
Individual Retirement		1,343		718		1,380		920
Group Retirement		702		249		717		214
Life Insurance		1,000		112		921		(54)
Personal Insurance		2,909		(71)		2,991		148
Total Consumer Insurance		5,954		1,008		6,009		1,228
Other Operations		1,218		(287)		1,003		(164)
Legacy Portfolio		1,013		286		1,312		(99)
AIG Consolidation and elimination		(119)		(1)		(144)		(6)
Total AIG Consolidated revenues and pre-tax operating income		12,658		(1,856)		13,596		1,644
Reconciling Items from revenues and pre-tax operating income to
revenues and pre-tax income (loss):
Changes in fair value of securities used to hedge guaranteed
living benefits		26		26		17		17
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		84		-		(67)
(Unfavorable) favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		7		-		3
Gain (Loss) on extinguishment of debt		-		(1)		-		14
Net realized capital losses		(922)		(922)		(765)		(765)
Gain (loss) from divested businesses		-		(13)		-		128
Non-operating litigation reserves and settlements		1		-		1		5
Net loss reserve discount (benefit) charge		-		(48)		-		(32)
Pension expense related to a one-time lump sum payment to former employees		-		(49)		-		-
Restructuring and other costs		-		(31)		-		(210)
Other		(12)		-		5		-
Revenues and Pre-tax income (loss)	$	11,751	$	(2,803)	$	12,854	$	737

Nine Months Ended September 30,	2017				2016
				Pre-Tax				Pre-Tax
		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
Commercial Insurance
Liability and Financial Lines	$	8,443	$	903	$	10,118	$	2,332
Property and Special Risks		5,365		(2,200)		6,140		(44)
Total Commercial Insurance		13,808		(1,297)		16,258		2,288

Consumer Insurance
Individual Retirement		4,099		1,815		4,382		1,727
Group Retirement		2,116		758		2,053		670
Life Insurance		3,043		272		2,862		(27)
Personal Insurance		8,618		471		8,735		510
Total Consumer Insurance		17,876		3,316		18,032		2,880
Other Operations		3,207		(835)		3,015		(565)
Legacy Portfolio		3,235		1,059		3,003		(94)
AIG Consolidation and elimination		(237)		75		(406)		-
Total AIG Consolidated revenues and pre-tax operating income		37,889		2,318		39,902		4,509
Reconciling Items from revenues and pre-tax operating income to
revenues and pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		117		117		270		270
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		195		-		(91)
(Unfavorable) favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		(258)		-		15
Gain (Loss) on extinguishment of debt		-		4		-		(76)
Net realized capital losses		(1,106)		(1,106)		(829)		(829)
Gain (loss) from divested businesses		-		(173)		-		351
Non-operating litigation reserves and settlements		17		86		42		43
Net loss reserve discount (benefit) charge		-		(283)		-		(323)
Pension expense related to a one-time lump sum payment to former employees		-		(50)		-		-
Restructuring and other costs		-		(259)		-		(488)
Other		(32)		-		(28)		-
Revenues and Pre-tax income	$	36,885	$	591	$	39,357	$	3,381

HELD-FOR-SALE CLASSIFICATION (Tables)

9 Months Ended

Sep. 30, 2017

HELD-FOR-SALE CLASSIFICATION

Summary of assets and liabilities held for sale

The following table summarizes the components of assets and liabilities held-for-sale on the Condensed Consolidated Balance Sheets at December 31, 2016*:

	December 31,
(in millions)		2016
Assets:
Fixed maturity securities	$	6,045
Equity securities		149
Mortgage and other loans receivable, net		137
Other invested assets		2
Short-term investments		130
Cash		133
Accrued investment income		21
Premiums and other receivables, net of allowance		351
Reinsurance assets, net of allowance		8
Deferred policy acquisition costs		471
Other assets		273
Assets of businesses held for sale		7,720
Less: Loss Accrual		(521)
Total assets held for sale	$	7,199
Liabilities:
Liability for unpaid losses and loss adjustment expenses	$	402
Unearned premiums		297
Future policy benefits for life and accident and health insurance contracts		4,579
Other policyholder funds		378
Other liabilities		450
Total liabilities held for sale	$	6,106

* Excludes net intercompany assets of $384 million at December 31, 2016, that are eliminated in consolidation.

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2017

FAIR VALUE MEASUREMENTS

Assets and liabilities measured at fair value on a recurring basis

September 30, 2017							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	$	2,383	$	-	$	-	$	-	$	2,384
Obligations of states, municipalities and political subdivisions		-		16,460		2,371		-		-		18,831
Non-U.S. governments		56		15,526		11		-		-		15,593
Corporate debt		-		132,475		1,210		-		-		133,685
RMBS		-		21,095		16,414		-		-		37,509
CMBS		-		12,853		665		-		-		13,518
CDO/ABS		-		7,837		8,414		-		-		16,251
Total bonds available for sale		57		208,629		29,085		-		-		237,771
Other bond securities:
U.S. government and government sponsored entities		33		2,796		-		-		-		2,829
Non-U.S. governments		-		55		-		-		-		55
Corporate debt		-		1,844		18		-		-		1,862
RMBS		-		426		1,443		-		-		1,869
CMBS		-		491		65		-		-		556
CDO/ABS		-		648		4,834		-		-		5,482
Total other bond securities		33		6,260		6,360		-		-		12,653
Equity securities available for sale:
Common stock		1,051		-		5		-		-		1,056
Preferred stock		18		559		-		-		-		577
Mutual funds		74		-		-		-		-		74
Total equity securities available for sale		1,143		559		5		-		-		1,707
Other equity securities		538		-		-		-		-		538
Mortgage and other loans receivable		-		-		5		-		-		5
Other invested assets^(a)		-		1		259		-		-		260
Derivative assets:
Interest rate contracts		2		2,252		-		-		-		2,254
Foreign exchange contracts		-		867		-		-		-		867
Equity contracts		191		209		69		-		-		469
Credit contracts		-		-		1		-		-		1
Other contracts		-		2		21		-		-		23
Counterparty netting and cash collateral		-		-		-		(1,390)		(1,324)		(2,714)
Total derivative assets		193		3,330		91		(1,390)		(1,324)		900
Short-term investments		2,247		356		-		-		-		2,603
Separate account assets		84,239		5,061		-		-		-		89,300
Total	$	88,450	$	224,196	$	35,805	$	(1,390)	$	(1,324)	$	345,737
Liabilities:
Policyholder contract deposits	$	-	$	14	$	3,974	$	-	$	-	$	3,988
Other policyholder funds		-		-		-		-		-		-
Derivative liabilities:
Interest rate contracts		-		2,228		26		-		-		2,254
Foreign exchange contracts		-		1,298		3		-		-		1,301
Equity contracts		56		3		-		-		-		59
Credit contracts		-		4		274		-		-		278
Other contracts		-		-		5		-		-		5
Counterparty netting and cash collateral		-		-		-		(1,390)		(1,395)		(2,785)
Total derivative liabilities		56		3,533		308		(1,390)		(1,395)		1,112
Long-term debt		-		2,995		3		-		-		2,998
Other liabilities		75		33		-		-		-		108
Total	$	131	$	6,575	$	4,285	$	(1,390)	$	(1,395)	$	8,206

December 31, 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	$	63	$	1,929	$	-	$	-	$	-	$	1,992
Obligations of states, municipalities and political subdivisions		-		22,732		2,040		-		-		24,772
Non-U.S. governments		52		14,466		17		-		-		14,535
Corporate debt		-		131,047		1,133		-		-		132,180
RMBS		-		20,468		16,906		-		-		37,374
CMBS		-		12,231		2,040		-		-		14,271
CDO/ABS		-		8,578		7,835		-		-		16,413
Total bonds available for sale		115		211,451		29,971		-		-		241,537
Other bond securities:
U.S. government and government sponsored entities		-		2,939		-		-		-		2,939
Non-U.S. governments		-		51		-		-		-		51
Corporate debt		-		1,755		17		-		-		1,772
RMBS		-		420		1,605		-		-		2,025
CMBS		-		448		155		-		-		603
CDO/ABS		-		905		5,703		-		-		6,608
Total other bond securities		-		6,518		7,480		-		-		13,998
Equity securities available for sale:
Common stock		1,056		9		-		-		-		1,065
Preferred stock		752		-		-		-		-		752
Mutual funds		260		1		-		-		-		261
Total equity securities available for sale		2,068		10		-		-		-		2,078
Other equity securities		482		-		-		-		-		482
Mortgage and other loans receivable		-		-		11		-		-		11
Other invested assets^(a)		-		1		204		-		-		205
Derivative assets:
Interest rate contracts		-		2,328		-		-		-		2,328
Foreign exchange contracts		-		1,320		-		-		-		1,320
Equity contracts		188		59		58		-		-		305
Credit contracts		-		-		2		-		-		2
Other contracts		-		6		16		-		-		22
Counterparty netting and cash collateral		-		-		-		(1,265)		(903)		(2,168)
Total derivative assets		188		3,713		76		(1,265)		(903)		1,809
Short-term investments		2,660		681		-		-		-		3,341
Separate account assets		77,318		5,654		-		-		-		82,972
Total	$	82,831	$	228,028	$	37,742	$	(1,265)	$	(903)	$	346,433
Liabilities:
Policyholder contract deposits	$	-	$	25	$	3,033	$	-	$	-	$	3,058
Other policyholder funds		5		-		-		-		-		5
Derivative liabilities:
Interest rate contracts		-		3,039		38		-		-		3,077
Foreign exchange contracts		-		1,358		11		-		-		1,369
Equity contracts		12		7		-		-		-		19
Credit contracts		-		-		331		-		-		331
Other contracts		-		1		5		-		-		6
Counterparty netting and cash collateral		-		-		-		(1,265)		(1,521)		(2,786)
Total derivative liabilities		12		4,405		385		(1,265)		(1,521)		2,016
Long-term debt		-		3,357		71		-		-		3,428
Total	$	17	$	7,787	$	3,489	$	(1,265)	$	(1,521)	$	8,507

(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,						Reclassified				(Losses) Included
		Fair Value	Gains (Losses)			Other		Sales,		Gross		Gross		to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Three Months Ended September 30, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,285	$	2	$	38	$	52	$	-	$	(6)	$	-	$	2,371	$	-
Non-U.S. governments		12		(5)		4		-		-		-		-		11		-
Corporate debt		932		5		(2)		(53)		449		(121)		-		1,210		-
RMBS		16,393		253		495		(731)		11		(7)		-		16,414		-
CMBS		735		2		5		(77)		-		-		-		665		-
CDO/ABS		8,605		8		(12)		(166)		-		(21)		-		8,414		-
Total bonds available for sale		28,962		265		528		(975)		460		(155)		-		29,085		-
Other bond securities:
Corporate debt		28		1		-		-		-		(11)		-		18		-
RMBS		1,510		63		-		(130)		-		-		-		1,443		49
CMBS		66		2		-		42		-		(45)		-		65		3
CDO/ABS		5,234		111		-		(505)		-		(6)		-		4,834		(34)
Total other bond securities		6,838		177		-		(593)		-		(62)		-		6,360		18
Equity securities available for sale:
Common stock		7		-		-		(2)		-		-		-		5		-
Total equity securities available for sale		7		-		-		(2)		-		-		-		5		-
Other equity securities		-		-		-		-		-		-		-		-		-
Mortgage and other loans receivable		5		-		-		-		-		-		-		5		-
Other invested assets		225		-		(2)		36		-		-		-		259		(3)
Total	$	36,037	$	442	$	526	$	(1,534)	$	460	$	(217)	$	-	$	35,714	$	15

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair Value	(Gains) Losses			Other		Sales,		Gross		Gross		to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,518	$	299	$	-	$	157	$	-	$	-	$	-	$	3,974	$	1
Derivative liabilities, net:
Interest rate contracts		30		(2)		-		(2)		-		-		-		26		1
Foreign exchange contracts		7		-		-		(4)		-		-		-		3		-
Equity contracts		(63)		(11)		-		5		-		-		-		(69)		8
Credit contracts		293		(19)		-		(1)		-		-		-		273		19
Other contracts		(16)		(19)		-		19		-		-		-		(16)		12
Total derivative liabilities, net^(a)		251		(51)		-		17		-		-		-		217		40
Long-term debt^(b)		61		2		-		(60)		-		-		-		3		4
Total	$	3,830	$	250	$	-	$	114	$	-	$	-	$	-	$	4,194	$	45

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair Value	Gains (Losses)			Other		Sales,		Gross		Gross		to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Nine Months Ended September 30, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,040	$	3	$	123	$	221	$	8	$	(24)	$	-	$	2,371	$	-
Non-U.S. governments		17		(5)		5		(6)		-		-		-		11		-
Corporate debt		1,133		6		(2)		(219)		655		(363)		-		1,210		-
RMBS		16,906		806		992		(2,270)		19		(39)		-		16,414		-
CMBS		2,040		25		12		(699)		-		(713)		-		665		-
CDO/ABS		7,835		(14)		168		478		-		(53)		-		8,414		-
Total bonds available for sale		29,971		821		1,298		(2,495)		682		(1,192)		-		29,085		-
Other bond securities:
Corporate debt		17		2		-		10		-		(11)		-		18		1
RMBS		1,605		184		-		(313)		-		(33)		-		1,443		116
CMBS		155		4		-		24		-		(118)		-		65		6
CDO/ABS		5,703		459		-		(1,322)		-		(6)		-		4,834		91
Total other bond securities		7,480		649		-		(1,601)		-		(168)		-		6,360		214
Equity securities available for sale:
Common stock		-		-		-		6		-		(1)		-		5		-
Total equity securities available for sale		-		-		-		6		-		(1)		-		5		-
Other equity securities		-		-		-		-		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		(6)		-		-		-		5		-
Other invested assets		204		3		(5)		58		-		(1)		-		259		1
Total	$	37,666	$	1,473	$	1,293	$	(4,038)	$	682	$	(1,362)	$	-	$	35,714	$	215

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair Value	(Gains) Losses			Other		Sales,		Gross		Gross		to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,033	$	594	$	-	$	347	$	-	$	-	$	-	$	3,974	$	3
Derivative liabilities, net:
Interest rate contracts		38		(3)		-		(9)		-		-		-		26		3
Foreign exchange contracts		11		1		-		(9)		-		-		-		3		(1)
Equity contracts		(58)		(26)		-		15		-		-		-		(69)		22
Credit contracts		329		(55)		-		(1)		-		-		-		273		53
Other contracts		(11)		(58)		-		56		(3)		-		-		(16)		57
Total derivative liabilities, net^(a)		309		(141)		-		52		(3)		-		-		217		134
Long-term debt^(b)		71		16		-		(84)		-		-		-		3		-
Total	$	3,413	$	469	$	-	$	315	$	(3)	$	-	$	-	$	4,194	$	137

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		to Assets		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Three Months Ended September 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,313	$	1	$	(5)	$	58	$	2	$	(78)	$	-	$	2,291	$	-
Non-U.S. governments		28		(3)		(9)		3		-		-		-		19		-
Corporate debt		836		(4)		7		(6)		267		(82)		(1)		1,017		-
RMBS		16,779		255		304		(165)		36		-		-		17,209		-
CMBS		2,295		12		(5)		(1)		2		(32)		(6)		2,265		-
CDO/ABS		7,075		7		16		728		-		-		(81)		7,745		-
Total bonds available for sale		29,326		268		308		617		307		(192)		(88)		30,546		-
Other bond securities:
Corporate debt		18		1		-		-		-		-		-		19		-
RMBS		1,486		30		-		(120)		-		-		-		1,396		12
CMBS		168		6		-		(15)		-		-		-		159		4
CDO/ABS		6,312		175		-		(506)		-		-		-		5,981		-
Total other bond securities		7,984		212		-		(641)		-		-		-		7,555		16
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-		-
Other equity securities		14		-		-		(14)		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		-		-		-		-		11		-
Other invested assets		241		(4)		1		18		-		-		-		256		-
Total	$	37,576	$	476	$	309	$	(20)	$	307	$	(192)	$	(88)	$	38,368	$	16

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		(Gains) Losses		Other		Sales,		Gross		Gross		to Liabilities		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,990	$	65	$	-	$	(33)	$	-	$	-	$	-	$	4,022	$	1
Derivative liabilities, net:
Interest rate contracts		46		(3)		-		9		-		-		-		52		4
Foreign exchange contracts		9		1		-		(1)		-		-		-		9		(1)
Equity contracts		(52)		(5)		-		3		-		-		-		(54)		5
Credit contracts		373		(36)		-		7		-		1		-		345		28
Other contracts		102		(16)		-		4		-		-		-		90		33
Total derivatives liabilities, net^(a)		478		(59)		-		22		-		1		-		442		69
Long-term debt^(b)		67		3		-		-		-		-		-		70		-
Other liabilities		-		-		-		-		-		-		-		-		(3)
Total	$	4,535	$	9	$	-	$	(11)	$	-	$	1	$	-	$	4,534	$	67

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		to Assets		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Nine Months Ended September 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,124	$	3	$	189	$	51	$	2	$	(78)	$	-	$	2,291	$	-
Non-U.S. governments		32		(3)		(11)		5		-		(4)		-		19		-
Corporate debt		1,370		(1)		(10)		(42)		581		(880)		(1)		1,017		-
RMBS		16,537		734		(55)		(337)		330		-		-		17,209		-
CMBS		2,585		70		(83)		(169)		2		(134)		(6)		2,265		-
CDO/ABS		6,169		27		59		1,548		23		-		(81)		7,745		-
Total bonds available for sale		28,817		830		89		1,056		938		(1,096)		(88)		30,546		-
Other bond securities:
Corporate debt		17		3		-		(1)		-		-		-		19		3
RMBS		1,581		7		-		(174)		-		(18)		-		1,396		(48)
CMBS		193		4		-		(38)		-		-		-		159		14
CDO/ABS		7,055		151		-		(1,225)		65		(65)		-		5,981		(378)
Total other bond securities		8,846		165		-		(1,438)		65		(83)		-		7,555		(409)
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-		-
Other equity securities		14		-		-		(14)		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		-		-		-		-		11		-
Other invested assets		332		(5)		2		(19)		-		(54)		-		256		(2)
Total	$	38,020	$	990	$	91	$	(415)	$	1,003	$	(1,233)	$	(88)	$	38,368	$	(411)

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		(Gains) Losses		Other		Sales,		Gross		Gross		to Liabilities		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	2,289	$	1,508	$	-	$	225	$	-	$	-	$	-	$	4,022	$	38
Derivative liabilities, net:
Interest rate contracts		50		4		-		(2)		-		-		-		52		(5)
Foreign exchange contracts		7		3		-		(1)		-		-		-		9		(2)
Equity contracts		(54)		(5)		-		5		-		-		-		(54)		5
Credit contracts		505		(70)		-		(91)		-		1		-		345		56
Other contracts		48		14		-		28		-		-		-		90		3
Total derivatives liabilities, net^(a)		556		(54)		-		(61)		-		1		-		442		57
Long-term debt^(b)		183		3		-		(3)		-		(113)		-		70		-
Total	$	3,028	$	1,457	$	-	$	161	$	-	$	(112)	$	-	$	4,534	$	95

(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,						Reclassified				(Losses) Included
		Fair Value	Gains (Losses)			Other		Sales,		Gross		Gross		to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Three Months Ended September 30, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,285	$	2	$	38	$	52	$	-	$	(6)	$	-	$	2,371	$	-
Non-U.S. governments		12		(5)		4		-		-		-		-		11		-
Corporate debt		932		5		(2)		(53)		449		(121)		-		1,210		-
RMBS		16,393		253		495		(731)		11		(7)		-		16,414		-
CMBS		735		2		5		(77)		-		-		-		665		-
CDO/ABS		8,605		8		(12)		(166)		-		(21)		-		8,414		-
Total bonds available for sale		28,962		265		528		(975)		460		(155)		-		29,085		-
Other bond securities:
Corporate debt		28		1		-		-		-		(11)		-		18		-
RMBS		1,510		63		-		(130)		-		-		-		1,443		49
CMBS		66		2		-		42		-		(45)		-		65		3
CDO/ABS		5,234		111		-		(505)		-		(6)		-		4,834		(34)
Total other bond securities		6,838		177		-		(593)		-		(62)		-		6,360		18
Equity securities available for sale:
Common stock		7		-		-		(2)		-		-		-		5		-
Total equity securities available for sale		7		-		-		(2)		-		-		-		5		-
Other equity securities		-		-		-		-		-		-		-		-		-
Mortgage and other loans receivable		5		-		-		-		-		-		-		5		-
Other invested assets		225		-		(2)		36		-		-		-		259		(3)
Total	$	36,037	$	442	$	526	$	(1,534)	$	460	$	(217)	$	-	$	35,714	$	15

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair Value	(Gains) Losses			Other		Sales,		Gross		Gross		to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,518	$	299	$	-	$	157	$	-	$	-	$	-	$	3,974	$	1
Derivative liabilities, net:
Interest rate contracts		30		(2)		-		(2)		-		-		-		26		1
Foreign exchange contracts		7		-		-		(4)		-		-		-		3		-
Equity contracts		(63)		(11)		-		5		-		-		-		(69)		8
Credit contracts		293		(19)		-		(1)		-		-		-		273		19
Other contracts		(16)		(19)		-		19		-		-		-		(16)		12
Total derivative liabilities, net^(a)		251		(51)		-		17		-		-		-		217		40
Long-term debt^(b)		61		2		-		(60)		-		-		-		3		4
Total	$	3,830	$	250	$	-	$	114	$	-	$	-	$	-	$	4,194	$	45

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair Value	Gains (Losses)			Other		Sales,		Gross		Gross		to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Nine Months Ended September 30, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,040	$	3	$	123	$	221	$	8	$	(24)	$	-	$	2,371	$	-
Non-U.S. governments		17		(5)		5		(6)		-		-		-		11		-
Corporate debt		1,133		6		(2)		(219)		655		(363)		-		1,210		-
RMBS		16,906		806		992		(2,270)		19		(39)		-		16,414		-
CMBS		2,040		25		12		(699)		-		(713)		-		665		-
CDO/ABS		7,835		(14)		168		478		-		(53)		-		8,414		-
Total bonds available for sale		29,971		821		1,298		(2,495)		682		(1,192)		-		29,085		-
Other bond securities:
Corporate debt		17		2		-		10		-		(11)		-		18		1
RMBS		1,605		184		-		(313)		-		(33)		-		1,443		116
CMBS		155		4		-		24		-		(118)		-		65		6
CDO/ABS		5,703		459		-		(1,322)		-		(6)		-		4,834		91
Total other bond securities		7,480		649		-		(1,601)		-		(168)		-		6,360		214
Equity securities available for sale:
Common stock		-		-		-		6		-		(1)		-		5		-
Total equity securities available for sale		-		-		-		6		-		(1)		-		5		-
Other equity securities		-		-		-		-		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		(6)		-		-		-		5		-
Other invested assets		204		3		(5)		58		-		(1)		-		259		1
Total	$	37,666	$	1,473	$	1,293	$	(4,038)	$	682	$	(1,362)	$	-	$	35,714	$	215

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair Value	(Gains) Losses			Other		Sales,		Gross		Gross		to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)	Settlements, Net			In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,033	$	594	$	-	$	347	$	-	$	-	$	-	$	3,974	$	3
Derivative liabilities, net:
Interest rate contracts		38		(3)		-		(9)		-		-		-		26		3
Foreign exchange contracts		11		1		-		(9)		-		-		-		3		(1)
Equity contracts		(58)		(26)		-		15		-		-		-		(69)		22
Credit contracts		329		(55)		-		(1)		-		-		-		273		53
Other contracts		(11)		(58)		-		56		(3)		-		-		(16)		57
Total derivative liabilities, net^(a)		309		(141)		-		52		(3)		-		-		217		134
Long-term debt^(b)		71		16		-		(84)		-		-		-		3		-
Total	$	3,413	$	469	$	-	$	315	$	(3)	$	-	$	-	$	4,194	$	137

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		to Assets		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Three Months Ended September 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,313	$	1	$	(5)	$	58	$	2	$	(78)	$	-	$	2,291	$	-
Non-U.S. governments		28		(3)		(9)		3		-		-		-		19		-
Corporate debt		836		(4)		7		(6)		267		(82)		(1)		1,017		-
RMBS		16,779		255		304		(165)		36		-		-		17,209		-
CMBS		2,295		12		(5)		(1)		2		(32)		(6)		2,265		-
CDO/ABS		7,075		7		16		728		-		-		(81)		7,745		-
Total bonds available for sale		29,326		268		308		617		307		(192)		(88)		30,546		-
Other bond securities:
Corporate debt		18		1		-		-		-		-		-		19		-
RMBS		1,486		30		-		(120)		-		-		-		1,396		12
CMBS		168		6		-		(15)		-		-		-		159		4
CDO/ABS		6,312		175		-		(506)		-		-		-		5,981		-
Total other bond securities		7,984		212		-		(641)		-		-		-		7,555		16
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-		-
Other equity securities		14		-		-		(14)		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		-		-		-		-		11		-
Other invested assets		241		(4)		1		18		-		-		-		256		-
Total	$	37,576	$	476	$	309	$	(20)	$	307	$	(192)	$	(88)	$	38,368	$	16

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		(Gains) Losses		Other		Sales,		Gross		Gross		to Liabilities		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,990	$	65	$	-	$	(33)	$	-	$	-	$	-	$	4,022	$	1
Derivative liabilities, net:
Interest rate contracts		46		(3)		-		9		-		-		-		52		4
Foreign exchange contracts		9		1		-		(1)		-		-		-		9		(1)
Equity contracts		(52)		(5)		-		3		-		-		-		(54)		5
Credit contracts		373		(36)		-		7		-		1		-		345		28
Other contracts		102		(16)		-		4		-		-		-		90		33
Total derivatives liabilities, net^(a)		478		(59)		-		22		-		1		-		442		69
Long-term debt^(b)		67		3		-		-		-		-		-		70		-
Other liabilities		-		-		-		-		-		-		-		-		(3)
Total	$	4,535	$	9	$	-	$	(11)	$	-	$	1	$	-	$	4,534	$	67

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		Gains (Losses)		Other		Sales,		Gross		Gross		to Assets		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Nine Months Ended September 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities
and political subdivisions	$	2,124	$	3	$	189	$	51	$	2	$	(78)	$	-	$	2,291	$	-
Non-U.S. governments		32		(3)		(11)		5		-		(4)		-		19		-
Corporate debt		1,370		(1)		(10)		(42)		581		(880)		(1)		1,017		-
RMBS		16,537		734		(55)		(337)		330		-		-		17,209		-
CMBS		2,585		70		(83)		(169)		2		(134)		(6)		2,265		-
CDO/ABS		6,169		27		59		1,548		23		-		(81)		7,745		-
Total bonds available for sale		28,817		830		89		1,056		938		(1,096)		(88)		30,546		-
Other bond securities:
Corporate debt		17		3		-		(1)		-		-		-		19		3
RMBS		1,581		7		-		(174)		-		(18)		-		1,396		(48)
CMBS		193		4		-		(38)		-		-		-		159		14
CDO/ABS		7,055		151		-		(1,225)		65		(65)		-		5,981		(378)
Total other bond securities		8,846		165		-		(1,438)		65		(83)		-		7,555		(409)
Equity securities available for sale:
Common stock		-		-		-		-		-		-		-		-		-
Total equity securities available for sale		-		-		-		-		-		-		-		-		-
Other equity securities		14		-		-		(14)		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		-		-		-		-		11		-
Other invested assets		332		(5)		2		(19)		-		(54)		-		256		(2)
Total	$	38,020	$	990	$	91	$	(415)	$	1,003	$	(1,233)	$	(88)	$	38,368	$	(411)

				Net														Changes in
				Realized and														Unrealized Gains
				Unrealized				Purchases,						Reclassified				(Losses) Included
		Fair value		(Gains) Losses		Other		Sales,		Gross		Gross		to Liabilities		Fair value		in Income on
		Beginning		Included		Comprehensive		Issues and		Transfers		Transfers		Held		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Settlements, Net		In		Out		for Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	2,289	$	1,508	$	-	$	225	$	-	$	-	$	-	$	4,022	$	38
Derivative liabilities, net:
Interest rate contracts		50		4		-		(2)		-		-		-		52		(5)
Foreign exchange contracts		7		3		-		(1)		-		-		-		9		(2)
Equity contracts		(54)		(5)		-		5		-		-		-		(54)		5
Credit contracts		505		(70)		-		(91)		-		1		-		345		56
Other contracts		48		14		-		28		-		-		-		90		3
Total derivatives liabilities, net^(a)		556		(54)		-		(61)		-		1		-		442		57
Long-term debt^(b)		183		3		-		(3)		-		(113)		-		70		-
Total	$	3,028	$	1,457	$	-	$	161	$	-	$	(112)	$	-	$	4,534	$	95

(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 September 30, 2017
Bonds available for sale	$	257	$	8	$	-	$	265
Other bond securities		87		(2)		92		177
Other invested assets		2		1		(3)		-
Nine Months Ended September 30, 2017
Bonds available for sale	$	849	$	(28)	$	-	$	821
Other bond securities		259		-		390		649
Other invested assets		5		(1)		(1)		3
Three Months Ended September 30, 2016
Bonds available for sale	$	294	$	(27)	$	1	$	268
Other bond securities		37		13		162		212
Other invested assets		5		(3)		(6)		(4)
Nine Months Ended September 30, 2016
Bonds available for sale	$	883	$	(56)	$	3	$	830
Other bond securities		29		45		91		165
Other invested assets		2		29		(36)		(5)


		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	Gains (Losses)			Income		Total
Three Months Ended September 30, 2017
Policyholder contract deposits	$	-	$	299	$	-	$	299
Derivative liabilities, net		-		(5)		(46)		(51)
Long-term debt		-		-		2		2
Nine Months Ended September 30, 2017
Policyholder contract deposits	$	-	$	594	$	-	$	594
Derivative liabilities, net		-		(13)		(128)		(141)
Long-term debt		-		-		16		16
Three Months Ended September 30, 2016
Policyholder contract deposits	$	-	$	65	$	-	$	65
Derivative liabilities, net		-		(5)		(54)		(59)
Long-term debt		-		-		3		3
Nine Months Ended September 30, 2016
Policyholder contract deposits	$	-	$	1,508	$	-	$	1,508
Derivative liabilities, net		-		(1)		(53)		(54)
Long-term debt		-		-		3		3

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

								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Three Months Ended September 30, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	56	$	-	$	(4)	$	52
Non-U.S. governments		7		-		(7)		-
Corporate debt		6		(5)		(54)		(53)
RMBS		194		(16)		(909)		(731)
CMBS		-		(17)		(60)		(77)
CDO/ABS		402		(136)		(432)		(166)
Total bonds available for sale		665		(174)		(1,466)		(975)
Other bond securities:
Corporate debt		-		-		-		-
RMBS		-		(51)		(79)		(130)
CMBS		42		-		-		42
CDO/ABS		-		(57)		(448)		(505)
Total other bond securities		42		(108)		(527)		(593)
Equity securities available for sale		4		-		(6)		(2)
Other equity securities		-		-		-		-
Other invested assets		46		(9)		(1)		36
Total assets	$	757	$	(291)	$	(2,000)	$	(1,534)
Liabilities:
Policyholder contract deposits	$	-	$	79	$	78	$	157
Derivative liabilities, net		-		-		17		17
Long-term debt^(b)		-		-		(60)		(60)
Total liabilities	$	-	$	79	$	35	$	114
Three Months Ended September 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	98	$	-	$	(40)	$	58
Non-U.S. governments		7		-		(4)		3
Corporate debt		-		-		(6)		(6)
RMBS		754		(23)		(896)		(165)
CMBS		50		(24)		(27)		(1)
CDO/ABS		902		(22)		(152)		728
Total bonds available for sale		1,811		(69)		(1,125)		617
Other bond securities:
Corporate debt		-		-		-		-
RMBS		12		(74)		(58)		(120)
CMBS		-		(14)		(1)		(15)
CDO/ABS		-		(340)		(166)		(506)
Total other bond securities		12		(428)		(225)		(641)
Equity securities available for sale		-		-		-		-
Other equity securities		-		-		(14)		(14)
Other invested assets		21		-		(3)		18
Total assets	$	1,844	$	(497)	$	(1,367)	$	(20)
Liabilities:
Policyholder contract deposits	$	-	$	95	$	(128)	$	(33)
Derivative liabilities, net		(2)		-		24		22
Long-term debt^(b)		-		-		-		-
Total liabilities	$	(2)	$	95	$	(104)	$	(11)

								Purchases,
								Sales, Issues and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Nine Months Ended September 30, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	279	$	(16)	$	(42)	$	221
Non-U.S. governments		7		(1)		(12)		(6)
Corporate debt		36		(59)		(196)		(219)
RMBS		834		(260)		(2,844)		(2,270)
CMBS		39		(128)		(610)		(699)
CDO/ABS		1,609		(136)		(995)		478
Total bonds available for sale		2,804		(600)		(4,699)		(2,495)
Other bond securities:
Corporate debt		11		-		(1)		10
RMBS		112		(218)		(207)		(313)
CMBS		42		(11)		(7)		24
CDO/ABS		-		(65)		(1,257)		(1,322)
Total other bond securities		165		(294)		(1,472)		(1,601)
Equity securities available for sale		12		-		(6)		6
Other equity securities		-		-		-		-
Mortgage and other loans receivable		-		(6)		-		(6)
Other invested assets		89		(11)		(20)		58
Total assets	$	3,070	$	(911)	$	(6,197)	$	(4,038)
Liabilities:
Policyholder contract deposits	$	-	$	231	$	116	$	347
Derivative liabilities, net		-		-		52		52
Long-term debt^(b)		-		-		(84)		(84)
Total liabilities	$	-	$	231	$	84	$	315
Nine Months Ended September 30, 2016
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	144	$	(7)	$	(86)	$	51
Non-U.S. governments		10		-		(5)		5
Corporate debt		29		(25)		(46)		(42)
RMBS		2,297		(81)		(2,553)		(337)
CMBS		156		(82)		(243)		(169)
CDO/ABS		2,053		(33)		(472)		1,548
Total bonds available for sale		4,689		(228)		(3,405)		1,056
Other bond securities:
Corporate debt		-		-		(1)		(1)
RMBS		101		(100)		(175)		(174)
CMBS		53		(85)		(6)		(38)
CDO/ABS		69		(376)		(918)		(1,225)
Total other bond securities		223		(561)		(1,100)		(1,438)
Equity securities available for sale		-		-		-		-
Other equity securities		14		-		(28)		(14)
Other invested assets		39		(2)		(56)		(19)
Total assets	$	4,965	$	(791)	$	(4,589)	$	(415)
Liabilities:
Policyholder contract deposits	$	-	$	365	$	(140)	$	225
Derivative liabilities, net		(5)		-		(56)		(61)
Long-term debt^(b)		-		-		(3)		(3)
Total liabilities	$	(5)	$	365	$	(199)	$	161

(a) There were no issuances during the three- and nine-month periods ended September 30, 2017 and 2016, respectively.

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

Significant unobservable inputs used for recurring fair value measurements

	Fair Value at
	September 30,		Valuation		Range
(in millions)	2017		Technique	Unobservable Input^(b)	(Weighted Average)
Assets:

Obligations of states, municipalities
and political subdivisions	$	1,578	Discounted cash flow	Yield	3.71% - 4.49% (4.10%)

Corporate debt		430	Discounted cash flow	Yield	4.18% - 4.52% (4.35%)

RMBS^(a)		16,472	Discounted cash flow	Constant prepayment rate	2.54% - 11.06% (6.80%)
				Loss severity	47.05% - 79.54% (62.97%)
				Constant default rate	3.21% - 7.87% (5.54%)
				Yield	2.27% - 4.88% (3.58%)

CDO/ABS^(a)		5,086	Discounted cash flow	Yield	3.26% - 4.99% (4.12%)

CMBS		488	Discounted cash flow	Yield	1.86% - 9.12% (5.49%)
Liabilities:

Embedded derivatives within
Policyholder contract deposits:

Guaranteed minimum withdrawal benefits (GMWB)		2,104	Discounted cash flow	Equity volatility	5.00% - 40.00%
				Base lapse rate	0.35% - 14.00%
				Dynamic lapse multiplier	30.00% - 170.00%
				Mortality multiplier^(c)	40.00% - 153.00%
				Utilization	100.00%
				Equity / interest-rate correlation	20.00% - 40.00%

Index Annuities		1,375	Discounted cash flow	Lapse rate	0.50% - 40.00%
				Mortality multiplier^(c)	42.00% - 162.00%

Indexed Life		477	Discounted cash flow	Base lapse rate	2.00% to 19.00%
				Mortality rate	0.00% to 40.00%


		Fair Value at
		December 31,	Valuation		Range
(in millions)		2016	Technique	Unobservable Input^(b)	(Weighted Average)
Assets:

Obligations of states, municipalities
and political subdivisions	$	1,248	Discounted cash flow	Yield	4.12% - 4.91% (4.52%)

Corporate debt		498	Discounted cash flow	Yield	3.41% - 6.38% (4.90%)

RMBS^(a)		17,412	Discounted cash flow	Constant prepayment rate	3.95% - 6.54% (5.25%)
				Loss severity	47.51% - 80.98% (64.24%)
				Constant default rate	3.28% - 8.64% (5.96%)
				Yield	3.28% - 5.87% (4.57%)

CDO/ABS^(a)		4,368	Discounted cash flow	Yield	3.67% - 5.85% (4.76%)

CMBS		1,511	Discounted cash flow	Yield	0.48% - 10.21% (5.34%)
Liabilities:

Embedded derivatives within
Policyholder contract deposits:

GMWB		1,777	Discounted cash flow	Equity volatility	13.00% - 50.00%
				Base lapse rate	0.50% - 20.00%
				Dynamic lapse multiplier	30.00% - 170.00%
				Mortality multiplier^(c)	42.00% - 161.00%
				Utilization	100.00%
				Equity / interest-rate correlation	20.00% - 40.00%

Index Annuities		859	Discounted cash flow	Lapse rate	1.00% - 66.00%
				Mortality multiplier^(c)	101.00% - 103.00%

Indexed Life		381	Discounted cash flow	Base lapse rate	2.00% - 19.00%
				Mortality rate	0.00% - 40.00%

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

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

		September 30, 2017				December 31, 2016
			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	$	1,310	$	761	$	1,424	$	750

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		226		185		258		208

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		127		44		137		31

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		119		43		123		44

Other	Includes multi-strategy, mezzanine and other strategies		400		237		312		215
Total private equity funds			2,182		1,270		2,254		1,248
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		1,228		-		1,453		9

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		1,317		-		1,429		-

Macro	Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions		1,016		-		992		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		278		7		416		8

Other	Includes investments held in funds that are less liquid, as well as other strategies which allow for broader allocation between public and private investments		222		4		197		14
Total hedge funds			4,061		11		4,487		31
Total		$	6,243	$	1,281	$	6,741	$	1,279

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

	Gain (Loss) Three Months Ended September 30,				Gain (Loss) Nine Months Ended September 30,
	Gain (Loss) Three Months Ended September 30,				Gain (Loss) Nine Months Ended September 30,
(in millions)		2017		2016		2017		2016
Assets:
Bond and equity securities	$	289	$	331	$	1,088	$	629
Alternative Investments^(a)		129		154		406		(60)
Other, including Short-term investments		1		-		1		-
Liabilities:
Long-term debt^(b)		(18)		8		(66)		(239)
Other liabilities		(1)		-		(2)		-
Total gain	$	400	$	493	$	1,427	$	330

(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

	September 30, 2017						December 31, 2016
			Outstanding						Outstanding
(in millions)	Fair Value		Principal Amount		Difference		Fair Value		Principal Amount		Difference
Assets:
Mortgage and other loans receivable	$	5	$	5	$	-	$	11	$	8	$	3
Liabilities:
Long-term debt^*	$	2,998	$	2,353	$	645	$	3,428	$	2,628	$	800

* 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 September 30,				Nine Months Ended September 30,
(in millions)	Level 1		Level 2		Level 3			Total		2017		2016		2017		2016
September 30, 2017
Other investments	$	-	$	-	$	62	$	62	$	26	$	27	$	76	$	58
Investments in life settlements		-		-		1,759		1,759		273		80		360		329
Other assets^*		-		-		-		-		-		2		35		11
Total	$	-	$	-	$	1,821	$	1,821	$	299	$	109	$	471	$	398
December 31, 2016
Other investments	$	-	$	-	$	364	$	364
Investments in life settlements		-		-		736		736
Other assets		-		-		2		2
Total	$	-	$	-	$	1,102	$	1,102

* Impairments include $35 million related to other assets that were sold during the three-month period ended June 30, 2017.

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
September 30, 2017
Assets:
Mortgage and other loans receivable	$	-	$	155	$	36,750	$	36,905	$	36,084
Other invested assets		-		665		6		671		661
Short-term investments		-		7,172		-		7,172		7,172
Cash		2,433		-		-		2,433		2,433
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		353		123,656		124,009		114,070
Other liabilities		-		4,896		-		4,896		4,896
Long-term debt		-		23,687		3,486		27,173		28,041
December 31, 2016
Assets:
Mortgage and other loans receivable	$	-	$	161	$	33,575	$	33,736	$	33,229
Other invested assets		-		955		2,053		3,008		3,474
Short-term investments		-		8,961		-		8,961		8,961
Cash		1,868		-		-		1,868		1,868
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		382		121,742		122,124		112,705
Other liabilities		-		4,196		-		4,196		4,196
Long-term debt		-		23,117		3,333		26,450		27,484

INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2017

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)
September 30, 2017
Bonds available for sale:
U.S. government and government sponsored entities	$	2,252	$	152	$	(20)	$	2,384	$	-
Obligations of states, municipalities and political subdivisions		17,637		1,235		(41)		18,831		-
Non-U.S. governments		14,885		808		(100)		15,593		-
Corporate debt		126,014		8,519		(848)		133,685		10
Mortgage-backed, asset-backed and collateralized:
RMBS		34,270		3,421		(182)		37,509		1,737
CMBS		13,154		456		(92)		13,518		52
CDO/ABS		15,931		374		(54)		16,251		29
Total mortgage-backed, asset-backed and collateralized		63,355		4,251		(328)		67,278		1,818
Total bonds available for sale^(b)		224,143		14,965		(1,337)		237,771		1,828
Equity securities available for sale:
Common stock		708		357		(9)		1,056		-
Preferred stock		504		73		-		577		-
Mutual funds		62		12		-		74		-
Total equity securities available for sale		1,274		442		(9)		1,707		-
Total	$	225,417	$	15,407	$	(1,346)	$	239,478	$	1,828
December 31, 2016
Bonds available for sale:
U.S. government and government sponsored entities	$	1,870	$	148	$	(26)	$	1,992	$	-
Obligations of states, municipalities and political subdivisions		24,025		1,001		(254)		24,772		-
Non-U.S. governments		14,018		773		(256)		14,535		-
Corporate debt		126,648		7,271		(1,739)		132,180		(31)
Mortgage-backed, asset-backed and collateralized:
RMBS		35,311		2,541		(478)		37,374		1,212
CMBS		14,054		409		(192)		14,271		45
CDO/ABS		16,315		278		(180)		16,413		39
Total mortgage-backed, asset-backed and collateralized		65,680		3,228		(850)		68,058		1,296
Total bonds available for sale^(b)		232,241		12,421		(3,125)		241,537		1,265
Equity securities available for sale:
Common stock		708		369		(12)		1,065		-
Preferred stock		748		4		-		752		-
Mutual funds		241		23		(3)		261		-
Total equity securities available for sale		1,697		396		(15)		2,078		-
Total	$	233,938	$	12,817	$	(3,140)	$	243,615	$	1,265

(b) At September 30, 2017 and December 31, 2016, bonds available for sale held by us that were below investment grade or not rated totaled $31.2 billion and $33.6 billion, respectively.

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

	Less than 12 Months				12 Months or More				Total
				Gross				Gross				Gross
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in millions)		Value		Losses		Value		Losses		Value		Losses
September 30, 2017
Bonds available for sale:
U.S. government and government sponsored entities	$	766	$	10	$	237	$	10	$	1,003	$	20
Obligations of states, municipalities and political
subdivisions		871		9		638		32		1,509		41
Non-U.S. governments		2,354		17		793		83		3,147		100
Corporate debt		13,155		272		7,984		576		21,139		848
RMBS		5,861		99		2,287		83		8,148		182
CMBS		2,663		37		1,173		55		3,836		92
CDO/ABS		1,864		24		755		30		2,619		54
Total bonds available for sale		27,534		468		13,867		869		41,401		1,337
Equity securities available for sale:
Common stock		149		9		1		-		150		9
Mutual funds		6		-		-		-		6		-
Total equity securities available for sale		155		9		1		-		156		9
Total	$	27,689	$	477	$	13,868	$	869	$	41,557	$	1,346
December 31, 2016
Bonds available for sale:
U.S. government and government sponsored entities	$	720	$	26	$	-	$	-	$	720	$	26
Obligations of states, municipalities and political
subdivisions		5,814		221		231		33		6,045		254
Non-U.S. governments		3,865		162		489		94		4,354		256
Corporate debt		28,184		1,013		6,080		726		34,264		1,739
RMBS		8,794		252		4,045		226		12,839		478
CMBS		4,469		152		479		40		4,948		192
CDO/ABS		5,362		102		1,961		78		7,323		180
Total bonds available for sale		57,208		1,928		13,285		1,197		70,493		3,125
Equity securities available for sale:
Common stock		125		12		-		-		125		12
Mutual funds		64		3		-		-		64		3
Total equity securities available for sale		189		15		-		-		189		15
Total	$	57,397	$	1,943	$	13,285	$	1,197	$	70,682	$	3,140

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
	Available for Sale				Position Available for Sale
(in millions)		Amortized Cost		Fair Value		Amortized Cost		Fair Value
September 30, 2017
Due in one year or less	$	8,929	$	9,129	$	1,400	$	1,386
Due after one year through five years		47,237		49,651		5,260		5,134
Due after five years through ten years		41,576		43,101		8,841		8,474
Due after ten years		63,046		68,612		12,306		11,804
Mortgage-backed, asset-backed and collateralized		63,355		67,278		14,931		14,603
Total	$	224,143	$	237,771	$	42,738	$	41,401
December 31, 2016
Due in one year or less	$	7,796	$	7,994	$	604	$	581
Due after one year through five years		49,200		51,958		6,002		5,841
Due after five years through ten years		43,308		44,226		16,045		15,332
Due after ten years		66,257		69,301		25,007		23,629
Mortgage-backed, asset-backed and collateralized		65,680		68,058		25,960		25,110
Total	$	232,241	$	241,537	$	73,618	$	70,493

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

	Three Months Ended September 30,								Nine Months Ended September 30,
		2017				2016			2017					2016
		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	$	93	$	39	$	189	$	54	$	637	$	263		$	593	$	696
Equity securities		6		2		54		1		106		20			1,066		15
Total	$	99	$	41	$	243	$	55	$	743	$	283		$	1,659	$	711

The fair value of AIG's other securities

		September 30, 2017				December 31, 2016
		Fair	Percent			Fair	Percent
(in millions)		Value	of Total			Value	of Total
Fixed maturity securities:
U.S. government and government sponsored entities	$	2,829	22	%	$	2,939	20	%
Obligations of states, municipalities and political subdivisions		-	-			-	-
Non-U.S. governments		55	-			51	-
Corporate debt		1,862	14			1,772	12
Mortgage-backed, asset-backed and collateralized:
RMBS		1,869	14			2,025	14
CMBS		556	4			603	4
CDO/ABS and other collateralized^*		5,482	42			6,608	47
Total mortgage-backed, asset-backed and collateralized		7,907	60			9,236	65
Total fixed maturity securities		12,653	96			13,998	97
Equity securities		538	4			482	3
Total	$	13,191	100	%	$	14,480	100	%

* Includes $270 million and $421 million of U.S. government agency-backed ABS at September 30, 2017 and December 31, 2016, respectively.

Components of other invested assets

		September 30,		December 31,
(in millions)		2017		2016
Alternative investments^{(a) (b)}	$	12,042	$	13,379
Investment real estate^(c)		7,465		6,900
Aircraft asset investments^(d)		218		321
Investments in life settlements		1,759		2,516
All other investments		1,106		1,422
Total	$	22,590	$	24,538

(b) Approximately 45 percent and 32 percent of our hedge fund portfolio is available for redemption in 2017 and 2018, respectively, an additional 17 percent will be available between 2019 and 2024.

(c) Net of accumulated depreciation of $510 million and $451 million in September 30, 2017 and December 31, 2016, respectively.

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

Components of net investment income

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Fixed maturity securities, including short-term investments	$	2,697	$	2,935	$	8,326	$	8,863
Equity securities		5		25		22		(19)
Interest on mortgage and other loans		414		379		1,206		1,144
Alternative investments^*		355		365		1,174		309
Real estate		51		37		131		125
Other investments		30		157		246		395
Total investment income		3,552		3,898		11,105		10,817
Investment expenses		136		115		390		338
Net investment income	$	3,416	$	3,783	$	10,715	$	10,479

Components of net realized capital gains (losses)

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Sales of fixed maturity securities	$	54	$	135	$	374	$	(103)
Sales of equity securities		4		53		86		1,051
Other-than-temporary impairments:
Severity		-		(10)		(2)		(15)
Change in intent		(1)		(2)		(9)		(35)
Foreign currency declines		(1)		(7)		(11)		(14)
Issuer-specific credit events		(85)		(77)		(197)		(303)
Adverse projected cash flows		(1)		(6)		(4)		(47)
Provision for loan losses		(38)		8		(56)		8
Foreign exchange transactions		66		(639)		299		(1,197)
Variable annuity embedded derivatives, net of related hedges		(430)		(309)		(1,023)		(482)
All other derivatives and hedge accounting		(136)		83		(217)		353
Impairments on investments in life settlements		(273)		(80)		(360)		(329)
Other^*		(81)		86		14		284
Net realized capital losses	$	(922)	$	(765)	$	(1,106)	$	(829)

* 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 nine months ended September 30, 2016.

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	1,059	$	1,595	$	4,332	$	11,957
Equity securities		9		(19)		52		(1,159)
Other investments		10		(29)		(127)		(243)
Total Increase (decrease) in unrealized appreciation (depreciation) of investments^*	$	1,078	$	1,547	$	4,257	$	10,555

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

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Balance, beginning of period	$	762	$	1,298	$	1,098	$	1,747
Increases due to:
Credit impairments on new securities subject to impairment losses		58		23		116		146
Additional credit impairments on previously impaired securities		12		37		49		166
Reductions due to:
Credit impaired securities fully disposed of for which there was no
prior intent or requirement to sell		(44)		(39)		(99)		(282)
Accretion on securities previously impaired due to credit^*		(147)		(187)		(523)		(645)
Impairments on securities reclassified to Assets held for sale		-		(2)		-		(2)
Balance, end of period	$	641	$	1,130	$	641	$	1,130

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

(in millions)	At Date of Acquisition
Contractually required payments (principal and interest)	$	36,228
Cash flows expected to be collected^*		29,649
Recorded investment in acquired securities		19,944

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

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

(in millions)	September 30, 2017		December 31, 2016
Outstanding principal balance	$	14,977	$	16,728
Amortized cost		10,636		11,987
Fair value		12,470		12,922

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Balance, beginning of period	$	7,465	$	7,043	$	7,498	$	6,846
Newly purchased PCI securities		16		177		117		628
Disposals		-		-		(18)		-
Accretion		(193)		(214)		(609)		(637)
Effect of changes in interest rate indices		(74)		(196)		(188)		(435)
Net reclassification from (to) non-accretable difference,
including effects of prepayments		172		158		586		566
Balance, end of period	$	7,386	$	6,968	$	7,386	$	6,968

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

(in millions)		September 30, 2017		December 31, 2016
Fixed maturity securities available for sale	$	2,988	$	2,389
Other bond securities, at fair value	$	1,869	$	1,799

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
September 30, 2017
Bonds available for sale:
Non-U.S. governments	$	-	$	40	$	-	$	-	$	-	$	40
Corporate debt		-		17		44		11		-		72
Other bond securities:
U.S. government and government sponsored entities		33		-		-		-		-		33
Non-U.S. governments		-		-		-		55		-		55
Corporate debt		-		422		1,089		270		-		1,781
Total	$	33	$	479	$	1,133	$	336	$	-	$	1,981

December 31, 2016
Other bond securities:
Non-U.S. governments	$	-	$	-	$	-	$	51	$	-	$	51
Corporate debt		-		163		860		725		-		1,748
Total	$	-	$	163	$	860	$	776	$	-	$	1,799

	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
September 30, 2017
Bonds available for sale:
Obligations of states, municipalities and political
subdivisions	$	-	$	-	$	-	$	-	$	-	$	-
Non-U.S. governments		-		68		-		-		-		68
Corporate debt		-		704		1,608		496		-		2,808
CMBS		-		-		-		-		-		-
Total	$	-	$	772	$	1,608	$	496	$	-	$	2,876

December 31, 2016
Bonds available for sale:
Obligations of states, municipalities and political
subdivisions	$	-	$	21	$	-	$	-	$	-	$	21
Non-U.S. governments		-		-		50		-		-		50
Corporate debt		-		791		1,466		-		-		2,257
CMBS		-		-		61		-		-		61
Total	$	-	$	812	$	1,577	$	-	$	-	$	2,389

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

(in millions)		September 30, 2017		December 31, 2016
Securities collateral pledged to us	$	2,054	$	1,434
Amount sold or repledged by us	$	80	$	11

LENDING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2017

LENDING ACTIVITIES

Composition of Mortgages and other loans receivable

	September 30,			December 31,
(in millions)		2017		2016
Commercial mortgages^*	$	27,930	$	25,042
Residential mortgages		4,991		3,828
Life insurance policy loans		2,301		2,367
Commercial loans, other loans and notes receivable		1,212		2,300
Total mortgage and other loans receivable		36,434		33,537
Allowance for credit losses		(345)		(297)
Mortgage and other loans receivable, net	$	36,089	$	33,240

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
September 30, 2017
Loan-to-Value Ratios^(b)
Less than 65%	$	17,040	$	1,960	$	355	$	19,355
65% to 75%		5,466		418		205		6,089
76% to 80%		672		54		53		779
Greater than 80%		1,189		437		81		1,707
Total commercial mortgages	$	24,367	$	2,869	$	694	$	27,930

December 31, 2016
Loan-to-Value Ratios^(b)
Less than 65%	$	13,998	$	1,694	$	232	$	15,924
65% to 75%		5,946		575		62		6,583
76% to 80%		1,246		174		47		1,467
Greater than 80%		471		392		205		1,068
Total commercial mortgages	$	21,661	$	2,835	$	546	$	25,042

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 $
September 30, 2017
Credit Quality Performance Indicator:
In good standing	770	$	7,274	$	8,642	$	5,367	$	2,147	$	2,391	$	2,002	$	27,823	100	%
Restructured^(a)	3		-		15		4		-		16		-		35	-
90 days or less delinquent	1		-		14		-		-		-		-		14	-
>90 days delinquent or in
process of foreclosure	2		-		40		18		-		-		-		58	-
Total^(b)	776	$	7,274	$	8,711	$	5,389	$	2,147	$	2,407	$	2,002	$	27,930	100	%
Allowance for credit losses:
Specific		$	-	$	3	$	31	$	-	$	1	$	-	$	35	-	%
General			61		93		36		8		14		17		229	1
Total allowance for credit losses		$	61	$	96	$	67	$	8	$	15	$	17	$	264	1	%

December 31, 2016
Credit Quality Performance Indicator:
In good standing	784	$	6,005	$	7,830	$	5,179	$	1,898	$	2,373	$	1,589	$	24,874	99	%
Restructured^(a)	4		-		134		18		-		16		-		168	1
90 days or less delinquent	-		-		-		-		-		-		-		-	-
>90 days delinquent or in
process of foreclosure	-		-		-		-		-		-		-		-	-
Total^(b)	788	$	6,005	$	7,964	$	5,197	$	1,898	$	2,389	$	1,589	$	25,042	100	%
Allowance for credit losses:
Specific		$	-	$	3	$	1	$	6	$	1	$	-	$	11	-	%
General			35		72		41		7		13		15		183	1
Total allowance for credit losses		$	35	$	75	$	42	$	13	$	14	$	15	$	194	1	%

(b) Does not reflect allowance for credit losses.

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

	2017						2016
Nine Months Ended September 30,		Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	194	$	103	$	297	$	171	$	137	$	308
Loans charged off		(5)		(2)		(7)		(13)		(2)		(15)
Recoveries of loans previously charged off		-		-		-		11		-		11
Net charge-offs		(5)		(2)		(7)		(2)		(2)		(4)
Provision for loan losses		75		(20)		55		20		(25)		(5)
Other		-		-		-		-		-		-
Allowance, end of period	$	264 ^*	$	81	$	345	$	189 ^*	$	110	$	299

VARIABLE INTEREST ENTITIES (Tables)

9 Months Ended

Sep. 30, 2017

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^(e)		Structured Investment Vehicle		Affordable Housing Partnerships		Other		Total
September 30, 2017
Assets:
Bonds available for sale	$	-	$	10,144	$	-	$	-	$	-	$	10,144
Other bond securities		-		4,427		-		-		4		4,431
Mortgage and other loans receivable		-		1,641		-		-		-		1,641
Other invested assets		1,047		218		-		3,050		25		4,340
Other ^(a)		358		1,196		4		463		83		2,104
Total assets^(b)	$	1,405	$	17,626	$	4	$	3,513	$	112	$	22,660
Liabilities:
Long-term debt	$	465	$	1,099	$	3	$	1,861	$	5	$	3,433
Other ^(c)		112		137		-		209		27		485
Total liabilities	$	577	$	1,236	$	3	$	2,070	$	32	$	3,918
December 31, 2016
Assets:
Bonds available for sale	$	-	$	10,233	$	-	$	-	$	-	$	10,233
Other bond securities		-		4,858		266		-		5		5,129
Mortgage and other loans receivable		1		1,442		-		-		104		1,547
Other invested assets		1,052		321		-		2,821		28		4,222
Other ^(a)		365		1,104		50		384		92		1,995
Total assets^(b)	$	1,418	$	17,958	$	316	$	3,205	$	229	$	23,126
Liabilities:
Long-term debt	$	444	$	771	$	56	$	1,696	$	6	$	2,973
Other^(c)		224		203		1		211		38		677
Total liabilities	$	668	$	974	$	57	$	1,907	$	44	$	3,650

(a) Comprised primarily of Short-term investments and Other assets at September 30, 2017 and December 31, 2016.

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

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^(b)		Sheet			Total
September 30, 2017
Real estate and investment entities^(a)	$	378,378	$	9,876	$	2,019		$	11,895
Affordable housing partnerships		4,549		736		-			736
Other		2,882		277		1,189	^(c)		1,466
Total	$	385,809	$	10,889	$	3,208		$	14,097
December 31, 2016
Real estate and investment entities^(a)	$	409,087	$	11,015	$	2,115		$	13,130
Affordable housing partnerships		4,709		785		-			785
Other		2,869		314		1,045	^(c)		1,359
Total	$	416,665	$	12,114	$	3,160		$	15,274

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

(b) At September 30, 2017 and December 31, 2016, $10.5 billion and $11.7 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.

- Definition

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

+ References + Details

DERIVATIVES AND HEDGE ACCOUNTING (Tables)

9 Months Ended

Sep. 30, 2017

DERIVATIVES AND HEDGE ACCOUNTING

Notional amounts and fair values of derivative instruments

	September 30, 2017								December 31, 2016
	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	$	290	$	1	$	615	$	9	$	175	$	-	$	782	$	11
Foreign exchange contracts		2,634		198		4,546		289		3,527		385		2,602		184
Equity contracts		-		-		143		3		-		-		113		7
Derivatives not designated
as hedging instruments:^(a)
Interest rate contracts		49,801		2,253		33,303		2,245		51,030		2,328		44,211		3,066
Foreign exchange contracts		6,143		669		10,763		1,012		9,468		935		7,674		1,185
Equity contracts		14,340		469		8,224		56		14,060		305		8,633		12
Credit contracts^(b)		3		1		975		278		4		2		861		331
Other contracts^(c)		38,031		23		61		5		37,633		22		62		6
Total derivatives, gross	$	111,242	$	3,614	$	58,630	$	3,897	$	115,897	$	3,977	$	64,938	$	4,802
Counterparty netting^(d)				(1,390)				(1,390)				(1,265)				(1,265)
Cash collateral^(e)				(1,324)				(1,395)				(903)				(1,521)
Total derivatives on condensed
consolidated balance sheets^(f)			$	900			$	1,112			$	1,809			$	2,016

(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 September 30, 2017
Interest rate contracts:
Realized capital gains/(losses)	$	(1)	$	1	$	-	$	-	$	-
Other income		-		-		-		-		-
Foreign exchange contracts:
Realized capital gains/(losses)		(157)		142		-		(15)		-
Other income		-		-		-		-		-
Equity contracts:
Realized capital gains/(losses)		(3)		2		-		(1)		-
Three Months Ended September 30, 2016
Interest rate contracts:
Realized capital gains/(losses)	$	(1)	$	1	$	-	$	-	$	-
Other income		-		3		-		-		3
Foreign exchange contracts:
Realized capital gains/(losses)		(10)		(34)		-		(44)		-
Other income		-		3		-		-		3
Equity contracts:
Realized capital gains/(losses)		8		(9)		-		(1)		-
Nine Months Ended September 30, 2017
Interest rate contracts:
Realized capital gains/(losses)	$	1	$	(1)	$	-	$	-	$	-
Other income		-		-		-		-		-
Foreign exchange contracts:
Realized capital gains/(losses)		(318)		332		-		14		-
Other income		-		4		-		-		4
Equity contracts:
Realized capital gains/(losses)		(29)		26		-		(3)		-
Nine Months Ended September 30, 2016
Interest rate contracts:
Realized capital gains/(losses)	$	-	$	(6)	$	-	$	-	$	(6)
Other income		-		10		-		-		10
Foreign exchange contracts:
Realized capital gains/(losses)		413		(443)		-		(30)		-
Other income		-		15		-		-		15
Equity contracts:
Realized capital gains/(losses)		28		(28)		-		-		-

(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				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
By Derivative Type:
Interest rate contracts	$	(18)	$	91	$	81	$	1,464
Foreign exchange contracts		(98)		49		(220)		203
Equity contracts		(233)		(317)		(723)		(589)
Commodity contracts		-		-		-		-
Credit contracts		19		36		55		70
Other contracts		19		22		55		58
Embedded derivatives		(213)		30		(326)		(1,255)
Total	$	(524)	$	(89)	$	(1,078)	$	(49)
By Classification:
Policy fees	$	20	$	20	$	59	$	60
Net investment income		(3)		2		(10)		14
Net realized capital losses		(550)		(181)		(1,250)		(93)
Other income (losses)		8		69		121		(43)
Policyholder benefits and claims incurred		1		1		2		13
Total	$	(524)	$	(89)	$	(1,078)	$	(49)

- 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=84234895&loc=d3e41641-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

INSURANCE LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2017

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

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

The following table presents the roll forward of activity in Loss Reserves:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)		2017		2016		2017		2016
Liability for unpaid loss and loss adjustment expenses, beginning of period	$	76,422	$	74,143	$	77,077	$	74,942
Reinsurance recoverable		(27,660)		(14,520)		(15,532)		(14,339)
Net Liability for unpaid loss and loss adjustment expenses, beginning of period		48,762		59,623		61,545		60,603
Foreign exchange effect		330		(147)		688		53
Dispositions^(a)		-		-		-		-
Retroactive reinsurance adjustment (net of discount)^(b)		22		-		(11,438)		-
Total		49,114		59,476		50,795		60,656
Losses and loss adjustment expenses incurred:
Current year		7,511		4,960		16,021		14,896
Prior years, excluding discount and amortization of deferred gain		901		274		1,354		214
Prior years, discount charge (benefit)		48		32		283		323
Prior years, amortization of deferred gain on retroactive reinsurance^(c)		(75)		-		(195)		-
Total losses and loss adjustment expenses incurred		8,385		5,266		17,463		15,433
Losses and loss adjustment expenses paid:
Current year		(1,634)		(1,948)		(3,342)		(3,945)
Prior years		(3,395)		(3,779)		(12,438)		(13,129)
Total losses and loss adjustment expenses paid		(5,029)		(5,727)		(15,780)		(17,074)
Reclassified to liabilities held for sale^(d)		8		(1,060)		-		(1,060)
Liability for unpaid loss and loss adjustment expenses, end of period:
Net liability for unpaid losses and loss adjustment expenses		52,478		57,955		52,478		57,955
Reinsurance recoverable		27,609		14,501		27,609		14,501
Total	$	80,087	$	72,456	$	80,087	$	72,456

(b) Includes discount on retroactive reinsurance in the amount of $53 million and $1.5 billion for the three- and nine-month periods ended September 30, 2017, respectively.

Schedule of loss reserve discount and loss reserve discount benefit (charge)

The following table presents the components of the loss reserve discount discussed above:

	September 30, 2017						December 31, 2016
			Legacy Portfolio						Legacy Portfolio
	U.S. Liability		- Property and				U.S. Liability		- Property and
	and		Casualty run-off				and		Casualty run-off
(in millions)	Financial Lines		Insurance Lines			Total	Financial Lines		Insurance Lines			Total
U.S. workers' compensation	$	2,376	$	911	$	3,287	$	2,583	$	987	$	3,570
Retroactive reinsurance		(1,494)		-		(1,494)		-		-		-
Total reserve discount^*	$	882	$	911	$	1,793	$	2,583	$	987	$	3,570

* Excludes $167 million and $181 million of discount related to certain long tail liabilities in the United Kingdom at September 30, 2017 and December 31, 2016, respectively.

The following tables present increase (decrease) in the net loss reserve discount:

Three Months Ended September 30,	2017						2016
			Legacy Portfolio						Legacy Portfolio
	U.S. Liability		- Property and				U.S. Liability		- Property and
	and		Casualty run-off				and		Casualty run-off
(in millions)	Financial Lines		Insurance Lines			Total	Financial Lines		Insurance Lines			Total
Current accident year	$	33	$	-	$	33	$	37	$	-	$	37
Accretion and other adjustments
to prior year discount		(100)		25		(75)		(43)		(12)		(55)
Effect of interest rate changes		(7)		1		(6)		(11)		(3)		(14)
Net reserve discount
benefit (charge)		(74)		26		(48)		(17)		(15)		(32)
Change in discount on loss reserves
ceded under retroactive reinsurance^(a)		53		-		53		-		-		-
Net change in total reserve
discount^(b)	$	(21)	$	26	$	5	$	(17)	$	(15)	$	(32)
Comprised of:
U.S. Workers' compensation	$	(21)	$	26	$	5	$	(17)	$	(15)	$	(32)
Asbestos	$	-	$	-	$	-	$	-	$	-	$	-

Nine Months Ended September 30,	2017						2016
			Legacy Portfolio						Legacy Portfolio
	U.S. Liability		- Property and				U.S. Liability		- Property and
	and		Casualty run-off				and		Casualty run-off
(in millions)	Financial Lines		Insurance Lines			Total	Financial Lines		Insurance Lines			Total
Current accident year	$	94	$	-	$	94	$	118	$	-	$	118
Accretion and other adjustments
to prior year discount		(205)		(34)		(239)		(104)		(42)		(146)
Effect of interest rate changes		(96)		(42)		(138)		(196)		(99)		(295)
Net reserve discount
benefit (charge)		(207)		(76)		(283)		(182)		(141)		(323)
Change in discount on loss reserves
ceded under retroactive reinsurance		(1,494)		-		(1,494)		-		-		-
Net change in total reserve
discount^(c)	$	(1,701)	$	(76)	$	(1,777)	$	(182)	$	(141)	$	(323)
Comprised of:
U.S. Workers' compensation	$	(1,701)	$	(76)	$	(1,777)	$	(182)	$	(139)	$	(321)
Asbestos	$	-	$	-	$	-	$	-	$	(2)	$	(2)

(a) Included in the deferred gain from retroactive reinsurance reported in other liabilities.

(b) Excludes $(18) million and $4 million of discount related to certain long tail liabilities in the United Kingdom for the three-month period ended September 30, 2017 and 2016, respectively.

(c) Excludes $20 million and $(16) million of discount related to certain long tail liabilities in the United Kingdom for the nine-month period ended September 30, 2017 and 2016, respectively.

EQUITY (Tables)

9 Months Ended

Sep. 30, 2017

EQUITY

Rollforward of common stock outstanding

Nine Months Ended September 30, 2017	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Shares, beginning of year	1,906,671,492	(911,335,651)	995,335,841
Shares issued	-	3,221,892	3,221,892
Shares repurchased	-	(99,677,646)	(99,677,646)
Shares, end of period	1,906,671,492	(1,007,791,405)	898,880,087

Dividends Paid

The following table presents record date, payment date and dividends paid per share on AIG Common Stock:

			Dividends Paid
Record Date	Payment Date		Per Share
September 15, 2017	September 29, 2017	$	0.32
June 14, 2017	June 28, 2017		0.32
March 15, 2017	March 29, 2017		0.32

September 15, 2016	September 29, 2016		0.32
June 13, 2016	June 27, 2016		0.32
March 14, 2016	March 28, 2016		0.32

Repurchases Of Common Stock and Warrant

The following table presents repurchases of AIG Common Stock and warrants to purchase shares of AIG Common Stock:

Nine Months Ended September 30,
(in millions)		2017		2016
Aggregate repurchases of common stock	$	6,275	$	8,506
Total number of common shares repurchased		100		153
Aggregate repurchases of warrants	$	3	$	263
Total number of warrants repurchased^*		-		15

* For the nine-month period ended September 30, 2017, we repurchased 185,000 warrants to purchase shares of AIG Common Stock.

Accumulated Other Comprehensive Income (Loss)

		Unrealized Appreciation
		(Depreciation) of Fixed		Unrealized
		Maturity Securities on		Appreciation		Foreign		Retirement
		Which Other-Than-		(Depreciation)		Currency		Plan
		Temporary Credit		of All Other		Translation		Liabilities
(in millions)		Impairments Were Taken		Investments		Adjustments		Adjustment		Total
Balance, December 31, 2016, net of tax	$	426	$	6,405	$	(2,629)	$	(972)	$	3,230
Change in unrealized appreciation of investments		564		3,693		-		-		4,257
Change in deferred policy acquisition costs adjustment and other^*		(56)		(1,269)		-		-		(1,325)
Change in future policy benefits		-		(425)		-		-		(425)
Change in foreign currency translation adjustments		-		-		474		-		474
Change in net actuarial loss		-		-		-		134		134
Change in prior service cost		-		-		-		6		6
Change in deferred tax liability		(178)		(159)		(27)		(48)		(412)
Total other comprehensive income		330		1,840		447		92		2,709
Noncontrolling interests		-		-		-		-		-
Balance, September 30, 2017, net of tax	$	756	$	8,245	$	(2,182)	$	(880)	$	5,939

Balance, December 31, 2015, net of tax	$	696	$	5,566	$	(2,879)	$	(846)	$	2,537
Change in unrealized appreciation (depreciation) of investments		(318)		10,873		-		-		10,555
Change in deferred policy acquisition costs adjustment and other		(40)		(887)		-		-		(927)
Change in future policy benefits		-		(2,099)		-		-		(2,099)
Change in foreign currency translation adjustments		-		-		179		-		179
Change in net actuarial loss		-		-		-		13		13
Change in prior service credit		-		-		-		(20)		(20)
Change in deferred tax asset (liability)		248		(1,585)		153		3		(1,181)
Total other comprehensive income (loss)		(110)		6,302		332		(4)		6,520
Noncontrolling interests		-		-		-		-		-
Balance, September 30, 2016, net of tax	$	586	$	11,868	$	(2,547)	$	(850)	$	9,057

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

Other comprehensive income (loss) reclassification adjustments

		Unrealized Appreciation
		(Depreciation) of Fixed
		Maturity Securities on		Unrealized
		Which Other-Than-		Appreciation		Foreign		Retirement
		Temporary Credit		(Depreciation)		Currency		Plan
		Impairments Were		of All Other		Translation		Liabilities
(in millions)		Taken		Investments		Adjustment		Adjustment		Total
Three Months Ended September 30, 2017
Unrealized change arising during period	$	160	$	831	$	328	$	38	$	1,357
Less: Reclassification adjustments
included in net income		10		133		-		(58)		85
Total other comprehensive income,
before income tax expense		150		698		328		96		1,272
Less: Income tax expense		53		206		3		33		295
Total other comprehensive income,
net of income tax expense	$	97	$	492	$	325	$	63	$	977
Three Months Ended September 30, 2016
Unrealized change arising during period	$	147	$	816	$	21	$	(8)	$	976
Less: Reclassification adjustments
included in net income		6		163		-		(3)		166
Total other comprehensive income,
before income tax expense (benefit)		141		653		21		(5)		810
Less: Income tax expense (benefit)		(76)		187		(90)		(9)		12
Total other comprehensive income,
net of income tax expense (benefit)	$	217	$	466	$	111	$	4	$	798
Nine Months Ended September 30, 2017
Unrealized change arising during period	$	553	$	2,610	$	474	$	62	$	3,699
Less: Reclassification adjustments
included in net income		45		611		-		(78)		578
Total other comprehensive income,
before income tax expense		508		1,999		474		140		3,121
Less: Income tax expense		178		159		27		48		412
Total other comprehensive income,
net of income tax expense	$	330	$	1,840	$	447	$	92	$	2,709
Nine Months Ended September 30, 2016
Unrealized change arising during period	$	(252)	$	8,733	$	179	$	(18)	$	8,642
Less: Reclassification adjustments
included in net income		106		846		-		(11)		941
Total other comprehensive income (loss),
before income tax expense (benefit)		(358)		7,887		179		(7)		7,701
Less: Income tax expense (benefit)		(248)		1,585		(153)		(3)		1,181
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(110)	$	6,302	$	332	$	(4)	$	6,520

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 September 30,
(in millions)		2017		2016
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken

Investments		$	10	$	6		Other realized capital gains
Total			10		6
Unrealized appreciation (depreciation) of all other investments
Investments			48		182		Other realized capital gains
Deferred acquisition costs adjustment			85		(19)		Amortization of deferred policy acquisition costs
Future policy benefits			-		-		Policyholder benefits and losses incurred
Total			133		163
Change in retirement plan liabilities adjustment
Prior - service credit			-		4		*
Actuarial losses			(58)		(7)		*
Total			(58)		(3)
Total reclassifications for the period		$	85	$	166
	Amount Reclassified from Accumulated Other Comprehensive Income					Affected Line Item in the Condensed Consolidated Statements of Income

	Nine Months Ended September 30,
(in millions)		2017		2016
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken

Investments		$	45	$	106		Other realized capital gains
Total			45		106
Unrealized appreciation (depreciation) of all other investments
Investments			415		843		Other realized capital gains
Deferred acquisition costs adjustment			196		3		Amortization of deferred policy acquisition costs
Future policy benefits			-		-		Policyholder benefits and losses incurred
Total			611		846
Change in retirement plan liabilities adjustment
Prior - service credit			1		13		*
Actuarial losses			(79)		(24)		*
Total			(78)		(11)		-
Total reclassifications for the period		$	578	$	941		-

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

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

Reference 12: 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=84159872&loc=d3e21484-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 14: 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=84159872&loc=d3e21488-112644

+ Details

EARNINGS PER SHARE (EPS) (Tables)

9 Months Ended

Sep. 30, 2017

EARNINGS PER SHARE (EPS)

Computation of basic and diluted EPS

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(dollars in millions, except per share data)		2017		2016		2017		2016
Numerator for EPS:
Income (loss) from continuing operations	$	(1,712)	$	433	$	609	$	2,211
Less: Net income (loss) from continuing operations attributable to noncontrolling interests		26		(26)		40		(35)
Income (loss) attributable to AIG common shareholders from continuing operations		(1,738)		459		569		2,246
Income (loss) from discontinued operations, net of income tax expense		(1)		3		7		(54)
Net income (loss) attributable to AIG common shareholders	$	(1,739)	$	462	$	576	$	2,192
Denominator for EPS:
Weighted average shares outstanding - basic		908,667,044		1,071,295,892		938,130,832		1,113,650,878
Dilutive shares		-		31,104,878		23,165,114		29,049,329
Weighted average shares outstanding - diluted^{(a) (b)}		908,667,044		1,102,400,770		961,295,946		1,142,700,207
Income per common share attributable to AIG:
Basic:
Income (loss) from continuing operations	$	(1.91)	$	0.43	$	0.60	$	2.02
Income (loss) from discontinued operations	$	-	$	-	$	0.01	$	(0.05)
Income (loss) attributable to AIG	$	(1.91)	$	0.43	$	0.61	$	1.97
Diluted:
Income (loss) from continuing operations	$	(1.91)	$	0.42	$	0.59	$	1.97
Income (loss) from discontinued operations	$	-	$	-	$	0.01	$	(0.05)
Income (loss) attributable to AIG	$	(1.91)	$	0.42	$	0.60	$	1.92

Shares in the diluted EPS calculation represent basic shares for the three-month period ended September 30, 2017 due to the net loss in that period. The shares excluded from the calculation were 22,459,868 shares.
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 2.4 million and 2.0 million for the three- and nine-month periods ended September 30, 2017, respectively, and 0.1 million and 0.2 million for the three- and nine-month periods ended September 30, 2016, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS (Tables)

9 Months Ended

Sep. 30, 2017

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 September 30, 2017
Components of net periodic benefit cost:
Service cost	$	(5)	$	7	$	2	$	-	$	1	$	1
Interest cost		41		4		45		2		1		3
Expected return on assets		(66)		(6)		(72)		-		-		-
Amortization of prior service credit		-		-		-		-		-		-
Amortization of net (gain) loss		6		3		9		-		-		-
Curtailment gain		-		(5)		(5)		-		-		-
Settlement (Credit)/Charges		50		-		50		-		-		-
Net periodic benefit cost (credit)	$	26	$	3	$	29	$	2	$	2	$	4
Three Months Ended September 30, 2016
Components of net periodic benefit cost:
Service cost	$	6	$	8	$	14	$	1	$	-	$	1
Interest cost		45		5		50		2		-		2
Expected return on assets		(72)		(7)		(79)		-		-		-
Amortization of prior service credit		-		-		-		(2)		-		(2)
Amortization of net loss		7		2		9		(1)		1		-
Curtailment gain		-		(2)		(2)		-		-		-
Settlement (Credit)/Charges		-		-		-		-		-		-
Net periodic benefit cost (credit)	$	(14)	$	6	$	(8)	$	-	$	1	$	1
Nine Months Ended September 30, 2017
Components of net periodic benefit cost:
Service cost	$	8	$	23	$	31	$	1	$	2	$	3
Interest cost		126		12		138		5		3		8
Expected return on assets		(194)		(18)		(212)		-		-		-
Amortization of prior service credit		-		-		-		(1)		-		(1)
Amortization of net (gain) loss		20		9		29		-		-		-
Curtailment gain		-		(5)		(5)		-		-		-
Settlement (Credit)/Charges		50		-		50		-		-		-
Net periodic benefit cost (credit)	$	10	$	21	$	31	$	5	$	5	$	10
Nine Months Ended September 30, 2016
Components of net periodic benefit cost:
Service cost	$	15	$	23	$	38	$	2	$	2	$	4
Interest cost		136		15		151		5		2		7
Expected return on assets		(219)		(20)		(239)		-		-		-
Amortization of prior service credit		-		-		-		(7)		-		(7)
Amortization of net loss		19		6		25		(1)		1		-
Curtailment gain		-		(5)		(5)		-		-		-
Settlement (Credit)/Charges		-		-		-		-		-		-
Net periodic benefit cost (credit)	$	(49)	$	19	$	(30)	$	(1)	$	5	$	4

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)

9 Months Ended

Sep. 30, 2017

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
September 30, 2017
Assets:
Short-term investments	$	2,675	$	-	$	10,659	$	(3,559)	$	9,775
Other investments^(a)		5,796		-		305,552		-		311,348
Total investments		8,471		-		316,211		(3,559)		321,123
Cash		3		2		2,428		-		2,433
Loans to subsidiaries^(b)		35,014		-		574		(35,588)		-
Investment in consolidated subsidiaries^(b)		43,014		31,323		-		(74,337)		-
Other assets, including deferred income taxes		21,483		251		160,018		(2,235)		179,517
Assets held for sale		-		-		-		-		-
Total assets	$	107,985	$	31,576	$	479,231	$	(115,719)	$	503,073
Liabilities:
Insurance liabilities	$	-	$	-	$	282,469	$	-	$	282,469
Long-term debt		21,480		642		8,917		-		31,039
Other liabilities, including intercompany balances^(a)		13,463		184		108,873		(5,967)		116,553
Loans from subsidiaries^(b)		574		-		35,014		(35,588)		-
Liabilities held for sale		-		-		-		-		-
Total liabilities		35,517		826		435,273		(41,555)		430,061
Total AIG shareholders’ equity		72,468		30,750		43,414		(74,164)		72,468
Non-redeemable noncontrolling interests		-		-		544		-		544
Total equity		72,468		30,750		43,958		(74,164)		73,012
Total liabilities and equity	$	107,985	$	31,576	$	479,231	$	(115,719)	$	503,073

December 31, 2016
Assets:
Short-term investments	$	4,424	$	-	$	13,218	$	(5,340)	$	12,302
Other investments^(a)		7,154		-		308,719		-		315,873
Total investments		11,578		-		321,937		(5,340)		328,175
Cash		2		34		1,832		-		1,868
Loans to subsidiaries^(b)		34,692		-		576		(35,268)		-
Investment in consolidated subsidiaries^(b)		42,582		27,309		-		(69,891)		-
Other assets, including deferred income taxes		24,099		239		140,743		(4,059)		161,022
Assets held for sale		-		-		7,199		-		7,199
Total assets	$	112,953	$	27,582	$	472,287	$	(114,558)	$	498,264
Liabilities:
Insurance liabilities	$	-	$	-	$	275,120	$	-	$	275,120
Long-term debt		21,405		642		8,865		-		30,912
Other liabilities, including intercompany balances^(a)		14,671		194		103,975		(9,572)		109,268
Loans from subsidiaries^(b)		577		-		34,691		(35,268)		-
Liabilities held for sale		-		-		6,106		-		6,106
Total liabilities		36,653		836		428,757		(44,840)		421,406
Total AIG shareholders’ equity		76,300		26,746		42,972		(69,718)		76,300
Non-redeemable noncontrolling interests		-		-		558		-		558
Total equity		76,300		26,746		43,530		(69,718)		76,858
Total liabilities and equity	$	112,953	$	27,582	$	472,287	$	(114,558)	$	498,264

(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 September 30, 2017
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	(2,098)	$	1,138	$	-	$	960	$	-
Other income		225		-		11,455		71		11,751
Total revenues		(1,873)		1,138		11,455		1,031		11,751
Expenses:
Interest expense		236		12		44		(2)		290
(Gain) loss on extinguishment of debt		2		-		(1)		-		1
Other expenses		177		1		14,154		(69)		14,263
Total expenses		415		13		14,197		(71)		14,554
Income (loss) from continuing operations before income tax
benefit		(2,288)		1,125		(2,742)		1,102		(2,803)
Income tax benefit		(549)		(4)		(538)		-		(1,091)
Income (loss) from continuing operations		(1,739)		1,129		(2,204)		1,102		(1,712)
Loss from discontinued operations, net of income taxes		-		-		(1)		-		(1)
Net income (loss)		(1,739)		1,129		(2,205)		1,102		(1,713)
Less:
Net income from continuing operations attributable to
noncontrolling interests		-		-		26		-		26
Net income (loss) attributable to AIG	$	(1,739)	$	1,129	$	(2,231)	$	1,102	$	(1,739)
Three Months Ended September 30, 2016
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,002	$	528	$	-	$	(1,530)	$	-
Other income		145		-		12,952		(243)		12,854
Total revenues		1,147		528		12,952		(1,773)		12,854
Expenses:
Interest expense		249		12		69		(1)		329
Gain on extinguishment of debt		-		-		(14)		-		(14)
Other expenses		238		1		11,821		(258)		11,802
Total expenses		487		13		11,876		(259)		12,117
Income (loss) from continuing operations before income tax
expense (benefit)		660		515		1,076		(1,514)		737
Income tax expense (benefit)		197		(4)		111		-		304
Income (loss) from continuing operations		463		519		965		(1,514)		433
Income (loss) from discontinued operations, net of income taxes		(1)		-		4		-		3
Net income (loss)		462		519		969		(1,514)		436
Less:
Net loss from continuing operations attributable to
noncontrolling interests		-		-		(26)		-		(26)
Net income (loss) attributable to AIG	$	462	$	519	$	995	$	(1,514)	$	462


		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Nine Months Ended September 30, 2017
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	794	$	2,553	$	-	$	(3,347)	$	-
Other income		653		-		36,085		147		36,885
Total revenues		1,447		2,553		36,085		(3,200)		36,885
Expenses:
Interest expense		719		37		129		(5)		880
(Gain) loss on extinguishment of debt		2		-		(6)		-		(4)
Other expenses		693		2		34,865		(142)		35,418
Total expenses		1,414		39		34,988		(147)		36,294
Income (loss) from continuing operations before income tax
expense (benefit)		33		2,514		1,097		(3,053)		591
Income tax expense (benefit)		(544)		(12)		538		-		(18)
Income (loss) from continuing operations		577		2,526		559		(3,053)		609
Income (loss) from discontinued operations, net of income taxes		(1)		-		8		-		7
Net income (loss)		576		2,526		567		(3,053)		616
Less:
Net income from continuing operations attributable to
noncontrolling interests		-		-		40		-		40
Net income (loss) attributable to AIG	$	576	$	2,526	$	527	$	(3,053)	$	576
Nine Months Ended September 30, 2016
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	2,226	$	(267)	$	-	$	(1,959)	$	-
Other income		209		5		39,833		(690)		39,357
Total revenues		2,435		(262)		39,833		(2,649)		39,357
Expenses:
Interest expense		743		39		177		(4)		955
(Gain) loss on extinguishment of debt		77		-		(1)		-		76
Other expenses		686		15		34,946		(702)		34,945
Total expenses		1,506		54		35,122		(706)		35,976
Income (loss) from continuing operations before income tax
expense (benefit)		929		(316)		4,711		(1,943)		3,381
Income tax expense (benefit)		(1,265)		(17)		2,452		-		1,170
Income (loss) from continuing operations		2,194		(299)		2,259		(1,943)		2,211
Loss from discontinued operations, net of income taxes		(2)		-		(52)		-		(54)
Net income (loss)		2,192		(299)		2,207		(1,943)		2,157
Less:
Net loss from continuing operations attributable to
noncontrolling interests		-		-		(35)		-		(35)
Net income (loss) attributable to AIG	$	2,192	$	(299)	$	2,242	$	(1,943)	$	2,192

* 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 September 30, 2017
Net income (loss)	$	(1,739)	$	1,129	$	(2,205)	$	1,102	$	(1,713)
Other comprehensive income (loss)		977		1,274		(30,625)		29,351		977
Comprehensive income (loss)		(762)		2,403		(32,830)		30,453		(736)
Total comprehensive income attributable to noncontrolling interests		-		-		26		-		26
Comprehensive income (loss) attributable to AIG	$	(762)	$	2,403	$	(32,856)	$	30,453	$	(762)
Three Months Ended September 30, 2016
Net income (loss)	$	462	$	519	$	969	$	(1,514)	$	436
Other comprehensive income (loss)		798		(56)		7		49		798
Comprehensive income (loss)		1,260		463		976		(1,465)		1,234
Total comprehensive loss attributable to noncontrolling interests		-		-		(26)		-		(26)
Comprehensive income (loss) attributable to AIG	$	1,260	$	463	$	1,002	$	(1,465)	$	1,260
Nine Months Ended September 30, 2017
Net income (loss)	$	576	$	2,526	$	567	$	(3,053)	$	616
Other comprehensive income (loss)		2,709		7,056		18,864		(25,920)		2,709
Comprehensive income (loss)		3,285		9,582		19,431		(28,973)		3,325
Total comprehensive income attributable to noncontrolling interests		-		-		40		-		40
Comprehensive income (loss) attributable to AIG	$	3,285	$	9,582	$	19,391	$	(28,973)	$	3,285
Nine Months Ended September 30, 2016
Net income (loss)	$	2,192	$	(299)	$	2,207	$	(1,943)	$	2,157
Other comprehensive income (loss)		6,520		7,204		48,555		(55,759)		6,520
Comprehensive income (loss)		8,712		6,905		50,762		(57,702)		8,677
Total comprehensive loss attributable to noncontrolling interests		-		-		(35)		-		(35)
Comprehensive income (loss) attributable to AIG	$	8,712	$	6,905	$	50,797	$	(57,702)	$	8,712

Condensed Consolidating Statements of Cash Flows

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries^*		Eliminations^*		AIG
Nine Months Ended September 30, 2017
Net cash (used in) provided by operating activities	$	793	$	1,105	$	(8,773)	$	(2,320)	$	(9,195)
Cash flows from investing activities:
Sales of investments		5,428		-		58,914		(3,508)		60,834
Sales of divested businesses, net		40		-		565		-		605
Purchase of investments		(1,781)		-		(49,675)		3,508		(47,948)
Loans to subsidiaries - net		38		-		5		(43)		-
Contributions from (to) subsidiaries - net		990		-		-		(990)		-
Net change in restricted cash		-		-		(23)		-		(23)
Net change in short-term investments		1,925		-		890		-		2,815
Other, net		(17)		(4)		(1,488)		-		(1,509)
Net cash (used in) provided by investing activities		6,623		(4)		9,188		(1,033)		14,774
Cash flows from financing activities:
Issuance of long-term debt		1,108		-		1,297		-		2,405
Repayments of long-term debt		(1,354)		-		(1,397)		-		(2,751)
Purchase of common stock		(6,275)		-		-		-		(6,275)
Intercompany loans - net		(5)		-		(38)		43		-
Cash dividends paid		(884)		(1,133)		(1,187)		2,320		(884)
Other, net		(5)		-		1,394		990		2,379
Net cash (used in) provided by financing activities		(7,415)		(1,133)		69		3,353		(5,126)
Effect of exchange rate changes on cash		-		-		(21)		-		(21)
Change in cash		1		(32)		463		-		432
Cash at beginning of year		2		34		1,832		-		1,868
Change in cash of businesses held for sale		-		-		133		-		133
Cash at end of period	$	3	$	2	$	2,428	$	-	$	2,433

Nine Months Ended September 30, 2016
Net cash (used in) provided by operating activities	$	1,671	$	1,664	$	2,277	$	(3,859)	$	1,753
Cash flows from investing activities:
Sales of investments		3,242		-		59,669		(9,567)		53,344
Purchase of investments		(659)		-		(62,293)		9,567		(53,385)
Loans to subsidiaries - net		1,025		-		73		(1,098)		-
Contributions from (to) subsidiaries - net		1,593		-		-		(1,593)		-
Net change in restricted cash		-		-		(49)		-		(49)
Net change in short-term investments		1,006		-		(1,861)		-		(855)
Other, net		(179)		-		1,449		-		1,270
Net cash (used in) provided by investing activities		6,028		-		(3,012)		(2,691)		325
Cash flows from financing activities:
Issuance of long-term debt		3,831		-		7,599		-		11,430
Repayments of long-term debt		(1,454)		(62)		(6,167)		-		(7,683)
Purchase of common stock		(8,506)		-		-		-		(8,506)
Intercompany loans - net		(73)		(3)		(1,022)		1,098		-
Cash dividends paid		(1,051)		(1,709)		(2,150)		3,859		(1,051)
Other, net		(263)		-		3,183		1,593		4,513
Net cash (used in) provided by financing activities		(7,516)		(1,774)		1,443		6,550		(1,297)
Effect of exchange rate changes on cash		-		-		88		-		88
Change in cash		183		(110)		796		-		869
Cash at beginning of year		34		116		1,479		-		1,629
Cash at end of period	$	217	$	6	$	2,275	$	-	$	2,498

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 2017 period for:
Interest:
Third party	$	(791)	$	(47)	$	(208)	$	-	$	(1,046)
Intercompany		(1)		(1)		2		-		-
Taxes:
Income tax authorities	$	(324)	$	-	$	(166)	$	-	$	(490)
Intercompany		1,852		-		(1,852)		-		-
Cash (paid) received during the 2016 period for:
Interest:
Third party	$	(797)	$	(51)	$	(161)	$	-	$	(1,009)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(11)	$	-	$	(197)	$	-	$	(208)
Intercompany		782		-		(782)		-		-

Supplementary disclosure of non-cash activities

Nine Months Ended September 30,
(in millions)		2017		2016
Intercompany non-cash financing and investing activities:
Capital contributions	$	198	$	3,086
Dividends received in the form of securities		735		4,055
Return of capital		26		-
Fixed maturity securities received in exchange for equity securities		-		440

BASIS OF PRESENTATION (Details)	Sep. 30, 2017 item $ / shares	Dec. 31, 2016 $ / shares
Basis of Presentation [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 2.5	$ 2.5
Minimum
Basis of Presentation [Line Items]
Number of Countries in which the entity operates \| item	80

SEGMENT INFORMATION (Details - Continuing operations by reportable segment) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment results
Total Revenues	$ 11,751	$ 12,854	$ 36,885	$ 39,357
Pre-tax operating income (loss)	(2,803)	737	591	3,381
Consolidation and Eliminations
Segment results
Total Revenues	(119)	(144)	(237)	(406)
Pre-tax operating income (loss)	(1)	(6)	75	0
Total AIG Consolidated revenues and pre-tax operating income (loss)
Segment results
Total Revenues	12,658	13,596	37,889	39,902
Pre-tax operating income (loss)	(1,856)	1,644	2,318	4,509
Commercial Insurance
Segment results
Total Revenues	4,592	5,416	13,808	16,258
Pre-tax operating income (loss)	(2,862)	685	(1,297)	2,288
Commercial Insurance \| Reportable Segments \| Liability And Financial Lines [Member]
Segment results
Total Revenues	2,848	3,379	8,443	10,118
Pre-tax operating income (loss)	(257)	948	903	2,332
Commercial Insurance \| Reportable Segments \| Property And Special Risks [Member]
Segment results
Total Revenues	1,744	2,037	5,365	6,140
Pre-tax operating income (loss)	(2,605)	(263)	(2,200)	(44)
Consumer Insurance
Segment results
Total Revenues	5,954	6,009	17,876	18,032
Pre-tax operating income (loss)	1,008	1,228	3,316	2,880
Consumer Insurance \| Reportable Segments \| Individual Retirement [Member]
Segment results
Total Revenues	1,343	1,380	4,099	4,382
Pre-tax operating income (loss)	718	920	1,815	1,727
Consumer Insurance \| Reportable Segments \| Group Retirement [Member]
Segment results
Total Revenues	702	717	2,116	2,053
Pre-tax operating income (loss)	249	214	758	670
Consumer Insurance \| Reportable Segments \| Life Insurance [Member]
Segment results
Total Revenues	1,000	921	3,043	2,862
Pre-tax operating income (loss)	112	(54)	272	(27)
Consumer Insurance \| Reportable Segments \| Personal Insurance [Member]
Segment results
Total Revenues	2,909	2,991	8,618	8,735
Pre-tax operating income (loss)	(71)	148	471	510
Other Operations
Segment results
Total Revenues	1,218	1,003	3,207	3,015
Pre-tax operating income (loss)	(287)	(164)	(835)	(565)
Legacy Portfolio
Segment results
Total Revenues	1,013	1,312	3,235	3,003
Pre-tax operating income (loss)	$ 286	$ (99)	$ 1,059	$ (94)

SEGMENT INFORMATION (Details - Continuing operations by reportable segment - Pretax operating income to pre-tax income)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Gain (Loss) on extinguishment of debt	$ (1)	$ 14	$ 4	$ (76)
Income (loss) from divested businesses	(13)	128	(173)	351
Net reserve discount (benefit) charge	(48)	(32)	(283)	(323)
Pre-tax operating income (loss)	(2,803)	737	591	3,381
Reconciling items from pre-tax operating income to 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	26	17	117	270
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	0	0	0	0
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements	0	0	0	0
Gain (Loss) on extinguishment of debt	0	0	0	0
Net realized capital gains (losses)	(922)	(765)	(1,106)	(829)
Income (loss) from divested businesses	0	0	0	0
Non-operating litigation reserves and settlements	1	1	17	42
Net reserve discount (benefit) charge	0	0	0	0
Restructuring and other costs	0	0	0	0
Other	(12)	5	(32)	(28)
Reconciling items from pre-tax operating income to 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	26	17	117	270
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	84	(67)	195	(91)
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements	7	3	(258)	15
Gain (Loss) on extinguishment of debt	(1)	14	4	(76)
Net realized capital gains (losses)	(922)	(765)	(1,106)	(829)
Income (loss) from divested businesses	(13)	128	(173)	351
Non-operating litigation reserves and settlements	0	5	86	43
Net reserve discount (benefit) charge	(48)	(32)	(283)	(323)
Pension expense related to a one-time lump sum payment to former employees	(49)		(50)
Restructuring and other costs	(31)	(210)	(259)	(488)
Other	$ 0	$ 0	$ 0	$ 0

HELD-FOR-SALE CLASSIFICATION (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Held-for-Sale Classification
Net income (loss) on sale of divested businesses	$ (13)		$ 128	$ (173)	$ 351
Assets:
Mortgage and other loans receivable, net	36,089			36,089		$ 33,240
Other invested assets	22,590			22,590		24,538
Short-term investments	9,775			9,775		12,302
Cash	2,433		2,498	2,433	2,498	1,868		$ 1,629
Accrued investment income	2,416			2,416		2,495
Premiums and other receivables, net of allowance	11,156			11,156		10,465
Reinsurance assets, net of allowance	34,429			34,429		21,901
Deferred policy acquisition costs	10,938			10,938		11,042
Other assets	10,324			10,324		10,815
Total assets held for sale	0			0		7,199
Liabilities:
Liability for unpaid losses and loss adjustment expenses	80,087	$ 76,422	$ 72,456	80,087	$ 72,456	77,077	$ 74,143	$ 74,942
Unearned premiums	20,135			20,135		19,634
Future policy benefits for life and accident and health insurance contracts	44,055			44,055		42,204
Other policyholder funds	3,678			3,678		3,989
Long-term Debt	31,039			31,039		30,912
Other Liabilities	27,253			27,253		26,296
Total liabilities held for sale	0			0		6,106
Held for sale [Member]
Assets:
Fixed maturity securities						6,045
Equity Securities						149
Mortgage and other loans receivable, net						137
Other invested assets						2
Short-term investments						130
Cash						133
Accrued investment income						21
Premiums and other receivables, net of allowance						351
Reinsurance assets, net of allowance						8
Deferred policy acquisition costs						471
Other assets						273
Assets of businesses held for sale						7,720
Less: Loss Accrual						(521)
Total assets held for sale						7,199
Liabilities:
Liability for unpaid losses and loss adjustment expenses						402
Unearned premiums						297
Future policy benefits for life and accident and health insurance contracts						4,579
Other policyholder funds						378
Other Liabilities						450
Total liabilities held for sale						6,106
Excluded net intercompany assets						$ 384
Certain insurance operations \| Held for sale [Member]
Held-for-Sale Classification
Consideration in cash	$ 168	$ 48		$ 234

FAIR VALUE MEASUREMENTS (Details - Assets and Liabilities Measured at Fair Value on a Recurring Basis) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	$ 237,771		$ 237,771		$ 241,537
Other bond securities	12,653		12,653		13,998
Equity securities available for sale	1,707		1,707		2,078
Other equity securities	538		538		482
Other invested assets	6,503		6,503		6,946
Derivative Assets, Fair Value	3,614		3,614		3,977
Derivative assets, Counterparty netting	(1,390)		(1,390)		(1,265)
Derivative assets, Cash collateral	(1,324)		(1,324)		(903)
Short-term investments, portion measured at fair value	2,603		2,603		3,341
Separate account assets, at fair value	89,300		89,300		82,972
Other assets	900		900		1,809
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	3,988		3,988		3,058
Other policyholder funds	3,678		3,678		3,989
Derivative Liabilities, Fair Value	3,897		3,897		4,802
Derivative liabilities, Counterparty netting	(1,390)		(1,390)		(1,265)
Derivative liabilities, Cash collateral	(1,395)		(1,395)		(1,521)
Long-term debt, portion measured at fair value	2,998		2,998		3,428
Other liabilities	1,220		1,220		2,016
U.S. government and government sponsored entities
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	0	$ 18	113	$ 34
Non-U.S. government
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	300	635	352	946
Preferred Stock
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	0		126
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	57		57		115
Other bond securities	33		33		0
Equity securities available for sale	1,143		1,143		2,068
Other equity securities	538		538		482
Mortgage and other loans receivable	0		0
Other invested assets	0		0		0
Derivative Assets, Fair Value	193		193		188
Short-term investments, portion measured at fair value	2,247		2,247		2,660
Separate account assets, at fair value	84,239		84,239		77,318
Other assets	0		0
Fair value assets measured on recurring basis, total	88,450		88,450		82,831
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0		0
Other policyholder funds	0		0		5
Derivative Liabilities, Fair Value	56		56		12
Long-term debt, portion measured at fair value	0		0		0
Other liabilities	75		75		0
Fair value liabilities measured on recurring basis, total	131		131		17
Recurring Basis \| Level 1 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	2		2		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	191		191		188
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	56		56		12
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	1		1		63
Other bond securities	33		33		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	56		56		52
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	1,051		1,051		1,056
Recurring Basis \| Level 1 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	18		18		752
Recurring Basis \| Level 1 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	74		74		260
Recurring Basis \| Level 2
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	208,629		208,629		211,451
Other bond securities	6,260		6,260		6,518
Equity securities available for sale	559		559		10
Other equity securities	0		0		0
Mortgage and other loans receivable	0		0
Other invested assets	1		1		1
Derivative Assets, Fair Value	3,330		3,330		3,713
Short-term investments, portion measured at fair value	356		356		681
Separate account assets, at fair value	5,061		5,061		5,654
Other assets	0		0		0
Fair value assets measured on recurring basis, total	224,196		224,196		228,028
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	14		14		25
Other policyholder funds	0		0		0
Derivative Liabilities, Fair Value	3,533		3,533		4,405
Long-term debt, portion measured at fair value	2,995		2,995		3,357
Other liabilities	33		33		0
Fair value liabilities measured on recurring basis, total	6,575		6,575		7,787
Recurring Basis \| Level 2 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	2,252		2,252		2,328
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	2,228		2,228		3,039
Recurring Basis \| Level 2 \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	867		867		1,320
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,298		1,298		1,358
Recurring Basis \| Level 2 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	209		209		59
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	3		3		7
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	4		4		0
Recurring Basis \| Level 2 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	2		2		6
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	0		0		1
Recurring Basis \| Level 2 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,383		2,383		1,929
Other bond securities	2,796		2,796		2,939
Recurring Basis \| Level 2 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	16,460		16,460		22,732
Other bond securities	0		0		0
Recurring Basis \| Level 2 \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,526		15,526		14,466
Other bond securities	55		55		51
Recurring Basis \| Level 2 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	132,475		132,475		131,047
Other bond securities	1,844		1,844		1,755
Recurring Basis \| Level 2 \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	21,095		21,095		20,468
Other bond securities	426		426		420
Recurring Basis \| Level 2 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	12,853		12,853		12,231
Other bond securities	491		491		448
Recurring Basis \| Level 2 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	7,837		7,837		8,578
Other bond securities	648		648		905
Recurring Basis \| Level 2 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		9
Recurring Basis \| Level 2 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	559		559		0
Recurring Basis \| Level 2 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	0		0		1
Recurring Basis \| Level 3
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	29,085		29,085		29,971
Other bond securities	6,360		6,360		7,480
Equity securities available for sale	5		5		0
Other equity securities	0		0		0
Mortgage and other loans receivable	5		5		11
Other invested assets	259		259		204
Derivative Assets, Fair Value	91		91		76
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	35,805		35,805		37,742
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	3,974		3,974		3,033
Other policyholder funds	0		0		0
Derivative Liabilities, Fair Value	308		308		385
Long-term debt, portion measured at fair value	3		3		71
Other liabilities	0		0		0
Fair value liabilities measured on recurring basis, total	4,285		4,285		3,489
Recurring Basis \| Level 3 \| 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	26		26		38
Recurring Basis \| Level 3 \| 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	3		3		11
Recurring Basis \| Level 3 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	69		69		58
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	1		1		2
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	274		274		331
Recurring Basis \| Level 3 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	21		21		16
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	5		5		5
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	2,371		2,371		2,040
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	11		11		17
Other bond securities	0		0		0
Recurring Basis \| Level 3 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	1,210		1,210		1,133
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	16,414		16,414		16,906
Other bond securities	1,443		1,443		1,605
Recurring Basis \| Level 3 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	665		665		2,040
Other bond securities	65		65		155
Recurring Basis \| Level 3 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	8,414		8,414		7,835
Other bond securities	4,834		4,834		5,703
Recurring Basis \| Level 3 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	5		5		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	(1,390)		(1,390)		(1,265)
Separate account assets, at fair value	0		0
Other assets	0		0
Fair value assets measured on recurring basis, total	(1,390)		(1,390)		(1,265)
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0
Derivative liabilities, Counterparty netting	(1,390)		(1,390)		(1,265)
Long-term debt, portion measured at fair value	0		0
Other liabilities	0		0
Fair value liabilities measured on recurring basis, total	(1,390)		(1,390)		(1,265)
Recurring Basis \| Counterparty Netting \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Counterparty netting	(1,390)		(1,390)		(1,265)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Counterparty netting	(1,390)		(1,390)		(1,265)
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	(1,324)		(1,324)		(903)
Separate account assets, at fair value	0		0
Other assets	0		0
Fair value assets measured on recurring basis, total	(1,324)		(1,324)		(903)
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	0		0
Derivative liabilities, Cash collateral	(1,395)		(1,395)		(1,521)
Long-term debt, portion measured at fair value	0		0
Other liabilities	0		0
Fair value liabilities measured on recurring basis, total	(1,395)		(1,395)		(1,521)
Recurring Basis \| Cash Collateral \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Cash collateral	(1,324)		(1,324)		(903)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Cash collateral	(1,395)		(1,395)		(1,521)
Recurring Basis \| Total Fair Value
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	237,771		237,771		241,537
Other bond securities	12,653		12,653		13,998
Equity securities available for sale	1,707		1,707		2,078
Other equity securities	538		538		482
Mortgage and other loans receivable	5		5		11
Other invested assets	260		260		205
Derivative Assets, Fair Value	900		900		1,809
Short-term investments, portion measured at fair value	2,603		2,603		3,341
Separate account assets, at fair value	89,300		89,300		82,972
Other assets					0
Fair value assets measured on recurring basis, total	345,737		345,737		346,433
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value	3,988		3,988		3,058
Other policyholder funds	0		0		5
Derivative Liabilities, Fair Value	1,112		1,112		2,016
Long-term debt, portion measured at fair value	2,998		2,998		3,428
Other liabilities	108		108		0
Fair value liabilities measured on recurring basis, total	8,206		8,206		8,507
Recurring Basis \| Total Fair Value \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	2,254		2,254		2,328
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	2,254		2,254		3,077
Recurring Basis \| Total Fair Value \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	867		867		1,320
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	1,301		1,301		1,369
Recurring Basis \| Total Fair Value \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	469		469		305
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	59		59		19
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	1		1		2
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	278		278		331
Recurring Basis \| Total Fair Value \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	23		23		22
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	5		5		6
Recurring Basis \| Total Fair Value \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value	(2,714)		(2,714)		(2,168)
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value	(2,785)		(2,785)		(2,786)
Recurring Basis \| Total Fair Value \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	2,384		2,384		1,992
Other bond securities	2,829		2,829		2,939
Recurring Basis \| Total Fair Value \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	18,831		18,831		24,772
Other bond securities	0		0		0
Recurring Basis \| Total Fair Value \| Non-U.S. government
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	15,593		15,593		14,535
Other bond securities	55		55		51
Recurring Basis \| Total Fair Value \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	133,685		133,685		132,180
Other bond securities	1,862		1,862		1,772
Recurring Basis \| Total Fair Value \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	37,509		37,509		37,374
Other bond securities	1,869		1,869		2,025
Recurring Basis \| Total Fair Value \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	13,518		13,518		14,271
Other bond securities	556		556		603
Recurring Basis \| Total Fair Value \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale	16,251		16,251		16,413
Other bond securities	5,482		5,482		6,608
Recurring Basis \| Total Fair Value \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	1,056		1,056		1,065
Recurring Basis \| Total Fair Value \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	577		577		752
Recurring Basis \| Total Fair Value \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale	$ 74		$ 74		$ 261

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issues and settlements) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, Sales, Issues and Settlements, Net, assets	$ (1,534)	$ (20)	$ (4,038)	$ (415)
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	(49)	0	(57)	(11)
Transfers out 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.	(32)	(3)	(38)	(54)
Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	0	(2)	0	(5)
Sales, liabilities	79	95	231	365
Settlements, liabilities	35	(104)	84	(199)
Purchases, Sales, Issues and Settlements, Net, liabilities	114	(11)	315	161
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	79	95	231	365
Settlements, liabilities	78	(128)	116	(140)
Purchases, Sales, Issues and Settlements, Net, liabilities	157	(33)	347	225
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities	0	(2)	0	(5)
Sales, liabilities	0	0	0	0
Settlements, liabilities	17	24	52	(56)
Purchases, Sales, Issues and Settlements, Net, liabilities	17	22	52	(61)
Long-term debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Settlements, liabilities	(60)	0	(84)	(3)
Purchases, Sales, Issues and Settlements, Net, liabilities	(60)	0	(84)	(3)
Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	757	1,844	3,070	4,965
Sales, assets	(291)	(497)	(911)	(791)
Settlements, assets	(2,000)	(1,367)	(6,197)	(4,589)
Purchases, Sales, Issues and Settlements, Net, assets	(1,534)	(20)	(4,038)	(415)
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	665	1,811	2,804	4,689
Sales, assets	(174)	(69)	(600)	(228)
Settlements, assets	(1,466)	(1,125)	(4,699)	(3,405)
Purchases, Sales, Issues and Settlements, Net, assets	(975)	617	(2,495)	1,056
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	56	98	279	144
Sales, assets	0	0	(16)	(7)
Settlements, assets	(4)	(40)	(42)	(86)
Purchases, Sales, Issues and Settlements, Net, assets	52	58	221	51
Bonds available for sale \| Non-U.S. government
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	7	7	7	10
Sales, assets	0	0	(1)	0
Settlements, assets	(7)	(4)	(12)	(5)
Purchases, Sales, Issues and Settlements, Net, assets	0	3	(6)	5
Bonds available for sale \| Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	6	0	36	29
Sales, assets	(5)	0	(59)	(25)
Settlements, assets	(54)	(6)	(196)	(46)
Purchases, Sales, Issues and Settlements, Net, assets	(53)	(6)	(219)	(42)
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	194	754	834	2,297
Sales, assets	(16)	(23)	(260)	(81)
Settlements, assets	(909)	(896)	(2,844)	(2,553)
Purchases, Sales, Issues and Settlements, Net, assets	(731)	(165)	(2,270)	(337)
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	0	50	39	156
Sales, assets	(17)	(24)	(128)	(82)
Settlements, assets	(60)	(27)	(610)	(243)
Purchases, Sales, Issues and Settlements, Net, assets	(77)	(1)	(699)	(169)
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	402	902	1,609	2,053
Sales, assets	(136)	(22)	(136)	(33)
Settlements, assets	(432)	(152)	(995)	(472)
Purchases, Sales, Issues and Settlements, Net, assets	(166)	728	478	1,548
Other bond securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	42	12	165	223
Sales, assets	(108)	(428)	(294)	(561)
Settlements, assets	(527)	(225)	(1,472)	(1,100)
Purchases, Sales, Issues and Settlements, Net, assets	(593)	(641)	(1,601)	(1,438)
Other bond securities \| Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0		11	0
Sales, assets	0			0
Settlements, assets	0	0	(1)	(1)
Purchases, Sales, Issues and Settlements, Net, assets	0	0	10	(1)
Other bond securities \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	0	12	112	101
Sales, assets	(51)	(74)	(218)	(100)
Settlements, assets	(79)	(58)	(207)	(175)
Purchases, Sales, Issues and Settlements, Net, assets	(130)	(120)	(313)	(174)
Other bond securities \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	42	0	42	53
Sales, assets	0	(14)	(11)	(85)
Settlements, assets	0	(1)	(7)	(6)
Purchases, Sales, Issues and Settlements, Net, assets	42	(15)	24	(38)
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	0	0	0	69
Sales, assets	(57)	(340)	(65)	(376)
Settlements, assets	(448)	(166)	(1,257)	(918)
Purchases, Sales, Issues and Settlements, Net, assets	(505)	(506)	(1,322)	(1,225)
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	4	0	12	0
Sales, assets	0	0	0	0
Settlements, assets	(6)	0	(6)	0
Purchases, Sales, Issues and Settlements, Net, assets	(2)	0	6	0
Other equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets			0	14
Settlements, assets	0	(14)	0	(28)
Purchases, Sales, Issues and Settlements, Net, assets	0	(14)	0	(14)
Mortgage and other loans receivable, net of allowance
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets	0	0	(6)	0
Settlements, assets	0	0	0	0
Purchases, Sales, Issues and Settlements, Net, assets	0	0	(6)	0
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets	46	21	89	39
Sales, assets	(9)	0	(11)	(2)
Settlements, assets	(1)	(3)	(20)	(56)
Purchases, Sales, Issues and Settlements, Net, assets	$ 36	$ 18	$ 58	$ (19)

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Assets)) - Discounted cash flow - Level 3 - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Corporate debt
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 430	$ 498
Corporate debt \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.18%	3.41%
Corporate debt \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.52%	6.38%
Corporate debt \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.35%	4.90%
Residential mortgage-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 16,472	$ 17,412
Residential mortgage-backed securities \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.27%	3.28%
Constant prepayment rate	2.54%	3.95%
Loss severity	47.05%	47.51%
Constant default rate	3.21%	3.28%
Residential mortgage-backed securities \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.88%	5.87%
Constant prepayment rate	11.06%	6.54%
Loss severity	79.54%	80.98%
Constant default rate	7.87%	8.64%
Residential mortgage-backed securities \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.58%	4.57%
Constant prepayment rate	6.80%	5.25%
Loss severity	62.97%	64.24%
Constant default rate	5.54%	5.96%
Certain CDO/ABS
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 5,086	$ 4,368
Certain CDO/ABS \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.26%	3.67%
Certain CDO/ABS \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.99%	5.85%
Certain CDO/ABS \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.12%	4.76%
Commercial mortgage backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 488	$ 1,511
Commercial mortgage backed securities \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	1.86%	0.48%
Commercial mortgage backed securities \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	9.12%	10.21%
Commercial mortgage backed securities \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.49%	5.34%
Obligations of states, municipalities and political subdivisions
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,578	$ 1,248
Obligations of states, municipalities and political subdivisions \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.71%	4.12%
Obligations of states, municipalities and political subdivisions \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.49%	4.91%
Obligations of states, municipalities and political subdivisions \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.10%	4.52%

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Liabilities) - Discounted cash flow - Level 3 - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Index Annuities
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 1,375	$ 859
Index Annuities \| Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Mortality multiplier	42.00%	101.00%
Lapse rates	0.50%	1.00%
Index Annuities \| Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Mortality multiplier	162.00%	103.00%
Lapse rates	40.00%	66.00%
Index Life
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 477	$ 381
Index Life \| Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Base lapse rates	2.00%	2.00%
Mortality rates	0.00%	0.00%
Index Life \| Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
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	$ 2,104	$ 1,777
Utilization rates	100.00%
GMWB and GMAB \| Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	5.00%	13.00%
Base lapse rates	0.35%	0.50%
Dynamic lapse rates	30.00%	30.00%
Mortality multiplier	40.00%	42.00%
Utilization rates		100.00%
Equity/Interest-rate Correlation	20.00%	20.00%
GMWB and GMAB \| Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	40.00%	50.00%
Base lapse rates	14.00%	20.00%
Dynamic lapse rates	170.00%	170.00%
Mortality multiplier	153.00%	161.00%
Utilization rates		100.00%
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	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 6,243	$ 6,741
Unfunded Commitments	1,281	1,279
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	2,182	2,254
Unfunded Commitments	$ 1,270	1,248
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	62.00%
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	17.00%
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	21.00%
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	$ 1,310	1,424
Unfunded Commitments	761	750
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	226	258
Unfunded Commitments	185	208
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	127	137
Unfunded Commitments	44	31
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	119	123
Unfunded Commitments	43	44
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	400	312
Unfunded Commitments	237	215
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	4,061	4,487
Unfunded Commitments	$ 11	31
Hedge fund investments redeemable monthly (as a percent)	21.00%
Hedge fund investments redeemable quarterly (as a percent)	45.00%
Hedge fund investments redeemable semi-annually (as a percent)	11.00%
Hedge fund investments redeemable annually (as a percent)	23.00%
Percentage of hedge fund investments that cannot be redeemed, either in whole or in part	49.00%
Hedge funds: \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investment redemption notice period (in days/years)	180 days
Hedge funds: \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investment redemption notice period (in days/years)	1 day
Event-driven
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 1,228	1,453
Unfunded Commitments	0	9
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	1,317	1,429
Unfunded Commitments	0	0
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	1,016	992
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	278	416
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	0	0
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	222	197
Unfunded Commitments	$ 4	$ 14

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	$ 400	$ 493	$ 1,427	$ 330
Fair value option credit risk gains (losses) on liabilities	2	6	2	14
Fair Value Option \| Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	(18)	8	(66)	(239)
Fair Value Option \| Other liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	(1)	0	(2)	0
Fair Value Option \| Bond and equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	289	331	1,088	629
Fair Value Option \| Alternative investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	129	154	406	(60)
Fair Value Option \| Other, Including Short Term Investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)	$ 1	$ 0	$ 1	$ 0

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	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	$ 5	$ 11
Mortgage and other loans receivable, Outstanding Principal Amount	36,434	33,537
Mortgage and other loans receivable, Difference	36,434	33,537
Long-term debt, Fair Value	2,998	3,428
Long-term debt, Outstanding Principal Amount	31,039	30,912
Fair Value Option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	5	11
Mortgage and other loans receivable, Outstanding Principal Amount	5	8
Mortgage and other loans receivable, Difference	0	3
Long-term debt, Fair Value	2,998	3,428
Long-term debt, Outstanding Principal Amount	2,353	2,628
Long-term debt, Difference	$ 645	$ 800

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	$ 299	$ 109	$ 471	$ 398
Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	26	27	76	58
Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	273	80	360	329
Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	0	$ 2	35	$ 11
Other assets \| Held for sale [Member]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	0
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	1,821		1,821		$ 1,102
Level 3 \| Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	62		62		364
Level 3 \| Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	1,759		1,759		736
Level 3 \| Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	0		0		2
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	1,821		1,821		1,102
Total Fair Value \| Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	62		62		364
Total Fair Value \| Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	1,759		1,759		736
Total Fair Value \| Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	0		0		$ 2
Total Fair Value \| Other assets \| Held for sale [Member]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	$ 0		$ 0

FAIR VALUE MEASUREMENTS (Details - Carrying values and estimated fair values of our financial instruments not measured at fair value) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Assets:
Mortgage and other loans receivable	$ 36,089	$ 33,240
Short-term investments	9,775	12,302
Cash	2,433	1,868	$ 2,498	$ 1,629
Liabilities:
Other liabilities	27,253	26,296
Long-term Debt	31,039	30,912
Total Fair Value
Assets:
Mortgage and other loans receivable	36,905	33,736
Other invested assets	671	3,008
Short-term investments	7,172	8,961
Cash	2,433	1,868
Liabilities:
Policyholder contract deposits associated with investment-type contracts	124,009	122,124
Other liabilities	4,896	4,196
Long-term Debt	27,173	26,450
Level 1
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	2,433	1,868
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	155	161
Other invested assets	665	955
Short-term investments	7,172	8,961
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	353	382
Other liabilities	4,896	4,196
Long-term Debt	23,687	23,117
Level 3
Assets:
Mortgage and other loans receivable	36,750	33,575
Other invested assets	6	2,053
Short-term investments	0	0
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	123,656	121,742
Other liabilities	0	0
Long-term Debt	3,486	3,333
Carrying Value
Assets:
Mortgage and other loans receivable	36,084	33,229
Other invested assets	661	3,474
Short-term investments	7,172	8,961
Cash	2,433	1,868
Liabilities:
Policyholder contract deposits associated with investment-type contracts	114,070	112,705
Other liabilities	4,896	4,196
Long-term Debt	$ 28,041	$ 27,484

INVESTMENTS (Details - Amortized cost or cost and fair value of Available for sale securities) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 225,417	$ 233,938
Available for sale securities, Gross Unrealized Gains	15,407	12,817
Available for sale securities, Gross Unrealized Losses	(1,346)	(3,140)
Available-for-sale Securities	239,478	243,615
AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,828	1,265
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	224,143	232,241
Available for sale securities, Gross Unrealized Gains	14,965	12,421
Available for sale securities, Gross Unrealized Losses	(1,337)	(3,125)
Available-for-sale Securities	237,771	241,537
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	31,200	33,600
Bonds available for sale \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,828	1,265
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	2,252	1,870
Available for sale securities, Gross Unrealized Gains	152	148
Available for sale securities, Gross Unrealized Losses	(20)	(26)
Available-for-sale Securities	2,384	1,992
Bonds available for sale \| U.S. government and government sponsored entities \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	0	0
Bonds available for sale \| Obligations of states, municipalities and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	17,637	24,025
Available for sale securities, Gross Unrealized Gains	1,235	1,001
Available for sale securities, Gross Unrealized Losses	(41)	(254)
Available-for-sale Securities	18,831	24,772
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	0
Bonds available for sale \| Non-U.S. government
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	14,885	14,018
Available for sale securities, Gross Unrealized Gains	808	773
Available for sale securities, Gross Unrealized Losses	(100)	(256)
Available-for-sale Securities	15,593	14,535
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	126,014	126,648
Available for sale securities, Gross Unrealized Gains	8,519	7,271
Available for sale securities, Gross Unrealized Losses	(848)	(1,739)
Available-for-sale Securities	133,685	132,180
Bonds available for sale \| Corporate debt \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	10	(31)
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	63,355	65,680
Available for sale securities, Gross Unrealized Gains	4,251	3,228
Available for sale securities, Gross Unrealized Losses	(328)	(850)
Available-for-sale Securities	67,278	68,058
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	1,818	1,296
Bonds available for sale \| Residential mortgage-backed securities (RMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	34,270	35,311
Available for sale securities, Gross Unrealized Gains	3,421	2,541
Available for sale securities, Gross Unrealized Losses	(182)	(478)
Available-for-sale Securities	37,509	37,374
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	1,737	1,212
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	13,154	14,054
Available for sale securities, Gross Unrealized Gains	456	409
Available for sale securities, Gross Unrealized Losses	(92)	(192)
Available-for-sale Securities	13,518	14,271
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	52	45
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	15,931	16,315
Available for sale securities, Gross Unrealized Gains	374	278
Available for sale securities, Gross Unrealized Losses	(54)	(180)
Available-for-sale Securities	16,251	16,413
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	29	39
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	1,274	1,697
Available for sale securities, Gross Unrealized Gains	442	396
Available for sale securities, Gross Unrealized Losses	(9)	(15)
Available-for-sale Securities	1,707	2,078
Equity securities available for sale \| Common Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	708	708
Available for sale securities, Gross Unrealized Gains	357	369
Available for sale securities, Gross Unrealized Losses	(9)	(12)
Available-for-sale Securities	1,056	1,065
Equity securities available for sale \| Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	504	748
Available for sale securities, Gross Unrealized Gains	73	4
Available for sale securities, Gross Unrealized Losses	0	0
Available-for-sale Securities	577	752
Equity securities available for sale \| Mutual Funds
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	62	241
Available for sale securities, Gross Unrealized Gains	12	23
Available for sale securities, Gross Unrealized Losses	0	(3)
Available-for-sale Securities	$ 74	$ 261

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	Sep. 30, 2017 USD ($) item	Dec. 31, 2016 USD ($)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 27,689	$ 57,397
Gross Unrealized Losses, Less than 12 Months	477	1,943
Fair Value, 12 Months or More	13,868	13,285
Gross Unrealized Losses, 12 Months or More	869	1,197
Fair Value, Total	41,557	70,682
Gross Unrealized Losses, Total	1,346	3,140
Bonds available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	27,534	57,208
Gross Unrealized Losses, Less than 12 Months	468	1,928
Fair Value, 12 Months or More	13,867	13,285
Gross Unrealized Losses, 12 Months or More	869	1,197
Fair Value, Total	41,401	70,493
Gross Unrealized Losses, Total	$ 1,337	3,125
Number of securities in an unrealized loss position \| item	6,115
Number of individual securities in continuous unrealized loss position for longer than twelve months \| item	1,721
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	$ 766	720
Gross Unrealized Losses, Less than 12 Months	10	26
Fair Value, 12 Months or More	237	0
Gross Unrealized Losses, 12 Months or More	10	0
Fair Value, Total	1,003	720
Gross Unrealized Losses, Total	20	26
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	871	5,814
Gross Unrealized Losses, Less than 12 Months	9	221
Fair Value, 12 Months or More	638	231
Gross Unrealized Losses, 12 Months or More	32	33
Fair Value, Total	1,509	6,045
Gross Unrealized Losses, Total	41	254
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	2,354	3,865
Gross Unrealized Losses, Less than 12 Months	17	162
Fair Value, 12 Months or More	793	489
Gross Unrealized Losses, 12 Months or More	83	94
Fair Value, Total	3,147	4,354
Gross Unrealized Losses, Total	100	256
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	13,155	28,184
Gross Unrealized Losses, Less than 12 Months	272	1,013
Fair Value, 12 Months or More	7,984	6,080
Gross Unrealized Losses, 12 Months or More	576	726
Fair Value, Total	21,139	34,264
Gross Unrealized Losses, Total	848	1,739
Bonds available for sale \| Residential mortgage-backed securities (RMBS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	5,861	8,794
Gross Unrealized Losses, Less than 12 Months	99	252
Fair Value, 12 Months or More	2,287	4,045
Gross Unrealized Losses, 12 Months or More	83	226
Fair Value, Total	8,148	12,839
Gross Unrealized Losses, Total	182	478
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	2,663	4,469
Gross Unrealized Losses, Less than 12 Months	37	152
Fair Value, 12 Months or More	1,173	479
Gross Unrealized Losses, 12 Months or More	55	40
Fair Value, Total	3,836	4,948
Gross Unrealized Losses, Total	92	192
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	1,864	5,362
Gross Unrealized Losses, Less than 12 Months	24	102
Fair Value, 12 Months or More	755	1,961
Gross Unrealized Losses, 12 Months or More	30	78
Fair Value, Total	2,619	7,323
Gross Unrealized Losses, Total	54	180
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	189
Gross Unrealized Losses, Less than 12 Months	9	15
Fair Value, 12 Months or More	1	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	156	189
Gross Unrealized Losses, Total	$ 9	15
Number of securities in an unrealized loss position \| item	75
Number of individual securities in continuous unrealized loss position for longer than twelve months \| item	3
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	$ 149	125
Gross Unrealized Losses, Less than 12 Months	9	12
Fair Value, 12 Months or More	1	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	150	125
Gross Unrealized Losses, Total	9	12
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	6	64
Gross Unrealized Losses, Less than 12 Months	0	3
Fair Value, 12 Months or More	0	0
Gross Unrealized Losses, 12 Months or More	0	0
Fair Value, Total	6	64
Gross Unrealized Losses, Total	$ 0	$ 3

INVESTMENTS (Details - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 225,417	$ 233,938
Fixed Maturity Securities Available for Sale, Fair Value, Total	237,771	241,537
Fixed Maturity Securities Available for Sale in a Loss Position
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	1,400	604
Due after one year through five years, Amortized Cost	5,260	6,002
Due after five years through ten years, Amortized Cost	8,841	16,045
Due after ten years, Amortized Cost	12,306	25,007
Mortgage-backed, asset-backed and collateralized, Amortized Cost	14,931	25,960
Available for sale securities, Amortized Cost, Total	42,738	73,618
Due in one year or less, Fair Value	1,386	581
Due after one year through five years, Fair Value	5,134	5,841
Due after five years through ten years, Fair Value	8,474	15,332
Due after ten years, Fair Value	11,804	23,629
Mortgage-backed, asset-backed and collateralized, Fair Value	14,603	25,110
Fixed Maturity Securities Available for Sale, Fair Value, Total	41,401	70,493
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	8,929	7,796
Due after one year through five years, Amortized Cost	47,237	49,200
Due after five years through ten years, Amortized Cost	41,576	43,308
Due after ten years, Amortized Cost	63,046	66,257
Mortgage-backed, asset-backed and collateralized, Amortized Cost	63,355	65,680
Available for sale securities, Amortized Cost, Total	224,143	232,241
Due in one year or less, Fair Value	9,129	7,994
Due after one year through five years, Fair Value	49,651	51,958
Due after five years through ten years, Fair Value	43,101	44,226
Due after ten years, Fair Value	68,612	69,301
Mortgage-backed, asset-backed and collateralized, Fair Value	67,278	68,058
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 237,771	$ 241,537

INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	$ 99	$ 243	$ 743	$ 1,659
Gross Realized Losses	41	55	283	711
Aggregate fair value of available for sale securities sold	4,400	7,900	27,800	22,300
Net realized capital gains (losses)	58	188	460	948
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	93	189	637	593
Gross Realized Losses	39	54	263	696
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	6	54	106	1,066
Gross Realized Losses	$ 2	$ 1	$ 20	$ 15

INVESTMENTS (Details - Value of other securities measured at fair value based on election of the fair value option) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 13,191	$ 14,480
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	$ 270	$ 421
Fixed maturity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 12,653	$ 13,998
Other Securities, Percent of Total	96.00%	97.00%
Fixed maturity securities \| U.S. government and government sponsored entities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 2,829	$ 2,939
Other Securities, Percent of Total	22.00%	20.00%
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	$ 0
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	$ 51
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	$ 1,862	$ 1,772
Other Securities, Percent of Total	14.00%	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	$ 7,907	$ 9,236
Other Securities, Percent of Total	60.00%	65.00%
Fixed maturity securities \| Residential mortgage-backed securities (RMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,869	$ 2,025
Other Securities, Percent of Total	14.00%	14.00%
Fixed maturity securities \| Commercial mortgage-backed securities (CMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 556	$ 603
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	$ 5,482	$ 6,608
Other Securities, Percent of Total	42.00%	47.00%
Equity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 538	$ 482
Other Securities, Percent of Total	4.00%	3.00%

INVESTMENTS (Details - Carrying values of other invested assets) - USD ($) $ in Millions	72 Months Ended
	Dec. 31, 2024	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Investment [Line Items]
Other invested assets				$ 22,590	$ 24,538
Hedge Funds
Investment [Line Items]
Hedge Fund Fair Value Redemption, Percentage		32.00%	45.00%
Hedge Fund Fair Value Redemption, Additional Percentage	17.00%
Alternative investments
Investment [Line Items]
Other invested assets				12,042	13,379
Alternative investments \| Hedge Funds
Investment [Line Items]
Other invested assets				6,300	7,200
Alternative investments \| Private equity funds
Investment [Line Items]
Other invested assets				5,200	5,500
Alternative investments \| Affordable Housing Partnerships
Investment [Line Items]
Other invested assets				558	625
Investment real estate
Investment [Line Items]
Other invested assets				7,465	6,900
Net of accumulated depreciation on investment in real estate				510	451
Aircraft asset investments
Investment [Line Items]
Other invested assets				218	321
Investments in life settlements
Investment [Line Items]
Other invested assets				1,759	2,516
All other investments
Investment [Line Items]
Other invested assets				$ 1,106	$ 1,422

INVESTMENTS (Details - Components of Net investment income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Investment [Line Items]
Total investment income	$ 3,552	$ 3,898	$ 11,105	$ 10,817
Investment expenses	136	115	390	338
Net investment income	3,416	3,783	10,715	10,479
Fixed maturity securities, including short-term investments
Investment [Line Items]
Total investment income	2,697	2,935	8,326	8,863
Equity securities
Investment [Line Items]
Total investment income	5	25	22	(19)
Interest on mortgage and other loans
Investment [Line Items]
Total investment income	414	379	1,206	1,144
Alternative investments
Investment [Line Items]
Total investment income	355	365	1,174	309
Real estate
Investment [Line Items]
Total investment income	51	37	131	125
Other investments
Investment [Line Items]
Total investment income	$ 30	$ 157	$ 246	$ 395

INVESTMENTS (Details - Components of Net realized capital gains (losses)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Other-than-temporary impairments:
Severity	$ 0	$ (10)	$ (2)	$ (15)
Change in intent	(1)	(2)	(9)	(35)
Foreign currency declines	(1)	(7)	(11)	(14)
Issuer-specific credit events	(85)	(77)	(197)	(303)
Adverse projected cash flows	(1)	(6)	(4)	(47)
Provision for loan losses	(38)	8	(56)	8
Foreign exchange transactions	66	(639)	299	(1,197)
All other derivatives and hedge accounting	(136)	83	(217)	353
Impairments on investments in life settlements	(273)	(80)	(360)	(329)
Other	(81)	86	14	284
Total net realized capital losses	(922)	(765)	(1,106)	(829)
Net realized capital gains (losses)	(922)	(765)	(1,106)	(829)
Variable Annuity
Other-than-temporary impairments:
Variable annuity embedded derivatives, net of related hedges	(430)	(309)	(1,023)	(482)
Prudential Financial
Other-than-temporary impairments:
Total net realized capital losses				107
Net realized capital gains (losses)				107
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	54	135	374	(103)
Equity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	$ 4	$ 53	$ 86	$ 1,051

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ 1,078	$ 1,547	$ 4,257	$ 10,555
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	1,059	1,595	4,332	11,957
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	9	(19)	52	(1,159)
Other investments
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ 10	$ (29)	$ (127)	$ (243)

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 762	$ 1,298	$ 1,098	$ 1,747
Increases due to:
Credit impairments on new securities subject to impairment losses	58	23	116	146
Additional credit impairments on previously impaired securities	12	37	49	166
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(44)	(39)	(99)	(282)
Credit impaired securities for which there is a current intent or anticipated requirement to sell	0	0	0	0
Accretion on securities previously impaired due to credit	(147)	(187)	(523)	(645)
Impairments on securities reclassified to Assets held for sale	0	(2)	0	(2)
Balance, end of year	$ 641	$ 1,130	$ 641	$ 1,130

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 224,143		$ 224,143		$ 232,241
Fair value	239,478		239,478		243,615
Purchased Credit Impaired (PCI) Securities
Schedule of Available-for-sale Securities [Line Items]
Contractually required payments (principal and interest)	36,228		36,228
Cash flows expected to be collected	29,649		29,649
Recorded investment in acquired securities	19,944		19,944
Outstanding principal balance	14,977		14,977		16,728
Amortized cost	10,636		10,636		11,987
Fair value	12,470		12,470		$ 12,922
Available for sale securities \| Purchased Credit Impaired (PCI) Securities
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of period	7,465	$ 7,043	7,498	$ 6,846
Newly purchased PCI securities	16	177	117	628
Disposals	0	0	(18)	0
Accretion	(193)	(214)	(609)	(637)
Effect of changes in interest rate indices	(74)	(196)	(188)	(435)
Net reclassification from non-accretable difference, including effects of prepayments	172	158	586	566
Balance, end of period	$ 7,386	$ 6,968	$ 7,386	$ 6,968

INVESTMENTS (Details - Pledged Investments) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Investment [Line Items]
Fair value of securities collateral pledged	$ 2,054	$ 1,434
Fair value of amount sold or repledged	80	11
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	4,900	4,900
Short-term investments held in escrow	411	523
FHLBs
Investment [Line Items]
Fair value of fixed maturities securities available for sale	2,900	3,400
Amount owned by subsidiaries	103	114
Residential loans pledged as collateral	223	17
Secured financing
Investment [Line Items]
Fair value of fixed maturities securities available for sale	2,988	2,389
Fair value of other bond securities	1,869	1,799
Amounts Borrowed Under Repurchase and Securities Lending Agreements	4,900	4,200
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	1,981	1,799
Securities Lending Agreements, Fair Value of Collateral	2,876	2,389
Secured financing \| Overnight and continuous
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	33	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	479	163
Securities Lending Agreements, Fair Value of Collateral	772	812
Secured financing \| 31 to 90 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	1,133	860
Securities Lending Agreements, Fair Value of Collateral	1,608	1,577
Secured financing \| 91 to 364 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	336	776
Securities Lending Agreements, Fair Value of Collateral	496	0
Secured financing \| 365 Days or Greater
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing \| Bonds available for sale \| Obligations of states, municipalities and political subdivisions
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral		21
Secured financing \| Bonds available for sale \| Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	40	0
Securities Lending Agreements, Fair Value of Collateral	68	50
Secured financing \| Bonds available for sale \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	72
Securities Lending Agreements, Fair Value of Collateral	2,808	2,257
Secured financing \| Bonds available for sale \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing \| Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0	61
Secured financing \| Bonds available for sale \| Up to 30 Days \| Obligations of states, municipalities and political subdivisions
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral		21
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	40	0
Securities Lending Agreements, Fair Value of Collateral	68
Secured financing \| Bonds available for sale \| Up to 30 Days \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	17
Securities Lending Agreements, Fair Value of Collateral	704	791
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	0
Secured financing \| Bonds available for sale \| 31 to 90 Days \| Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0
Securities Lending Agreements, Fair Value of Collateral	0	50
Secured financing \| Bonds available for sale \| 31 to 90 Days \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	44
Securities Lending Agreements, Fair Value of Collateral	1,608	1,466
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	0
Secured financing \| Bonds available for sale \| 31 to 90 Days \| Commercial mortgage-backed securities (CMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral		61
Secured financing \| Bonds available for sale \| 91 to 364 Days \| Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing \| Bonds available for sale \| 91 to 364 Days \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	11
Securities Lending Agreements, Fair Value of Collateral	496
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	0
Secured financing \| Bonds available for sale \| 91 to 364 Days \| Commercial mortgage-backed securities (CMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing \| Bonds available for sale \| 365 Days or Greater \| Corporate debt
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing \| Other bond securities \| Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	55	51
Secured financing \| Other bond securities \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	1,781	1,748
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	33
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	0
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	33
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	422	163
Secured financing \| Other bond securities \| Up to 30 Days \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
Secured financing \| Other bond securities \| 31 to 90 Days \| Non-U.S. government
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0
Secured financing \| Other bond securities \| 31 to 90 Days \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	1,089	860
Secured financing \| Other bond securities \| 31 to 90 Days \| Residential mortgage-backed securities (RMBS)
Investment [Line Items]
Securities Lending Agreements, Fair Value of Collateral	0
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	51
Secured financing \| Other bond securities \| 91 to 364 Days \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	270	725
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	0
GIAs
Investment [Line Items]
Fair value of other bond securities	$ 2,100	$ 2,200

LENDING ACTIVITIES (Details - Composition of Mortgages and other loans receivable) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 36,434	$ 33,537
Allowance for losses	(345)	(297)	$ (299)	$ (308)
Mortgage and other loans receivable, net	36,089	33,240
Commercial mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	27,930	25,042
Allowance for losses	$ 264	$ 194	$ 189	$ 171
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	22.00%	24.00%
Residential Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 4,991	$ 3,828
Life insurance policy loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	2,301	2,367
Commercial loans, other loans and notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 1,212	$ 2,300

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgage loans) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017 USD ($) loan	Dec. 31, 2016 USD ($) loan	Sep. 30, 2016 USD ($)	Dec. 31, 2015 USD ($)
Commercial Mortgage Recorded Investment [Line Items]
Mortgage and other loans receivable, net	$ 36,089	$ 33,240
Allowance for credit losses	345	297	$ 299	$ 308
Total mortgage and other loans receivable	$ 36,434	$ 33,537
Debt Coverage Ratio	1.8	1.9
Average Loan to Value Ratio	58.00%	58.00%
Apartments
Commercial Mortgage Recorded Investment [Line Items]
In good standing	$ 7,274	$ 6,005
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	61	35
Allowance for credit losses	61	35
Total mortgage and other loans receivable	7,274	6,005
Offices
Commercial Mortgage Recorded Investment [Line Items]
In good standing	8,642	7,830
Restructured	15	134
90 days or less delinquent	14	0
Greater than 90 days delinquent or in process of foreclosure	40	0
Allowance for credit losses, Specific	3	3
Allowance for credit losses, General	93	72
Allowance for credit losses	96	75
Total mortgage and other loans receivable	8,711	7,964
Retail
Commercial Mortgage Recorded Investment [Line Items]
In good standing	5,367	5,179
Restructured	4	18
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	18	0
Allowance for credit losses, Specific	31	1
Allowance for credit losses, General	36	41
Allowance for credit losses	67	42
Total mortgage and other loans receivable	5,389	5,197
Industrial
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,147	1,898
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	0	6
Allowance for credit losses, General	8	7
Allowance for credit losses	8	13
Total mortgage and other loans receivable	2,147	1,898
Hotel
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,391	2,373
Restructured	16	16
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	1	1
Allowance for credit losses, General	14	13
Allowance for credit losses	15	14
Total mortgage and other loans receivable	2,407	2,389
Others
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,002	1,589
Restructured	0	0
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	0	0
Allowance for credit losses, General	17	15
Allowance for credit losses	17	15
Total mortgage and other loans receivable	$ 2,002	$ 1,589
Commercial mortgages
Commercial Mortgage Recorded Investment [Line Items]
Number of loans in good standing \| loan	770	784
Number of loans restructured \| loan	3	4
Number of loans 90 days or less delinquent \| loan	1	0
Number of loans greater than 90 days delinquent or in process of foreclosure \| loan	2	0
Number of Loans \| loan	776	788
In good standing	$ 27,823	$ 24,874
Restructured	35	168
90 days or less delinquent	14	0
Greater than 90 days delinquent or in process of foreclosure	58	0
Allowance for credit losses, Specific	35	11
Allowance for credit losses, General	229	183
Allowance for credit losses	$ 264	$ 194
Percentage of loans that are current as to payments of principal and interest	100.00%	99.00%
Percentage restructured	0.00%	1.00%
Percentage 90 days or less delinquent	0.00%
Percentage greater than 90 days delinquent or in foreclosure	0.00%	0.00%
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%
Percentage of current commercial mortgages held	99.70%
Total mortgage and other loans receivable	$ 27,930	$ 25,042
Commercial mortgages \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	24,367	21,661
Commercial mortgages \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	2,869	2,835
Commercial mortgages \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	694	546
Commercial mortgages \| Less than 65%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	19,355	15,924
Commercial mortgages \| Less than 65% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	17,040	13,998
Commercial mortgages \| Less than 65% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,960	1,694
Commercial mortgages \| Less than 65% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	355	232
Commercial mortgages \| 65% to 75%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	6,089	6,583
Commercial mortgages \| 65% to 75% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	5,466	5,946
Commercial mortgages \| 65% to 75% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	418	575
Commercial mortgages \| 65% to 75% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	205	62
Commercial mortgages \| 76% to 80%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	779	1,467
Commercial mortgages \| 76% to 80% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	672	1,246
Commercial mortgages \| 76% to 80% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	54	174
Commercial mortgages \| 76% to 80% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	53	47
Commercial mortgages \| Greater than 80%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,707	1,068
Commercial mortgages \| Greater than 80% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,189	471
Commercial mortgages \| Greater than 80% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	437	392
Commercial mortgages \| Greater than 80% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	$ 81	$ 205

LENDING ACTIVITIES (Details - Rollforward of the changes in the allowance for losses on Mortgage and other loans receivable) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 297	$ 308
Loans charged off	(7)	(15)
Recoveries of loans previously charged off	0	11
Net charge-offs	(7)	(4)
Provision for loan losses	55	(5)
Other	0	0
Allowance, end of period	345	299
Loans modified in a troubled debt restructuring	25	0
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	(194)	(171)
Loans charged off	(5)	(13)
Recoveries of loans previously charged off	0	11
Net charge-offs	(5)	(2)
Provision for loan losses	75	20
Other	0	0
Allowance, end of period	(264)	(189)
Allowance related to individually assessed credit losses	35	11
Commercial mortgage loans	342	292
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	103	137
Loans charged off	(2)	(2)
Recoveries of loans previously charged off	0	0
Net charge-offs	(2)	(2)
Provision for loan losses	(20)	(25)
Other	0	0
Allowance, end of period	$ 81	$ 110

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Assets:
Bonds available for sale	$ 237,771.0	$ 241,537.0
Other bond securities	12,653.0	13,998.0
Mortgage and other loans receivable	36,089.0	33,240.0
Other invested assets	22,590.0	24,538.0
Liabilities:
Long-term Debt	31,039.0	30,912.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	22,590.0	24,538.0
Held for sale [Member]
Assets:
Mortgage and other loans receivable		137.0
Other invested assets		2.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets		2.0
Real Estate and Investment Funds
Liabilities:
Off-balance sheet exposure	98.6	106.0
Consolidated VIE
Assets:
Bonds available for sale	10,144.0	10,233.0
Other bond securities	4,431.0	5,129.0
Mortgage and other loans receivable	1,641.0	1,547.0
Other invested assets	4,340.0	4,222.0
Other assets	2,104.0	1,995.0
Total assets	22,660.0	23,126.0
Liabilities:
Long-term Debt	3,433.0	2,973.0
Other liabilities	485.0	677.0
Total liabilities	3,918.0	3,650.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	4,340.0	4,222.0
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	0.0	1.0
Other invested assets	1,047.0	1,052.0
Other assets	358.0	365.0
Total assets	1,405.0	1,418.0
Liabilities:
Long-term Debt	465.0	444.0
Other liabilities	112.0	224.0
Total liabilities	577.0	668.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	1,047.0	1,052.0
Consolidated VIE \| Securitization Vehicles
Assets:
Bonds available for sale	10,144.0	10,233.0
Other bond securities	4,427.0	4,858.0
Mortgage and other loans receivable	1,641.0	1,442.0
Other invested assets	218.0	321.0
Other assets	1,196.0	1,104.0
Total assets	17,626.0	17,958.0
Liabilities:
Long-term Debt	1,099.0	771.0
Other liabilities	137.0	203.0
Total liabilities	1,236.0	974.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	218.0	321.0
Total assets of consolidated securitization vehicles owed to Parent or its subsidiaries	17,000.0	17,300.0
Consolidated VIE \| Structured Investment Vehicles
Assets:
Bonds available for sale	0.0	0.0
Other bond securities	0.0	266.0
Mortgage and other loans receivable	0.0	0.0
Other invested assets	0.0	0.0
Other assets	4.0	50.0
Total assets	4.0	316.0
Liabilities:
Long-term Debt	3.0	56.0
Other liabilities	0.0	1.0
Total liabilities	3.0	57.0
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	3,050.0	2,821.0
Other assets	463.0	384.0
Total assets	3,513.0	3,205.0
Liabilities:
Long-term Debt	1,861.0	1,696.0
Other liabilities	209.0	211.0
Total liabilities	2,070.0	1,907.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	3,050.0	2,821.0
Consolidated VIE \| Other
Assets:
Bonds available for sale	0.0	0.0
Other bond securities	4.0	5.0
Mortgage and other loans receivable	0.0	104.0
Other invested assets	25.0	28.0
Other assets	83.0	92.0
Total assets	112.0	229.0
Liabilities:
Long-term Debt	5.0	6.0
Other liabilities	27.0	38.0
Total liabilities	32.0	44.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Other invested assets	25.0	28.0
Unconsolidated VIE
Assets:
Other invested assets	10,500.0	11,700.0
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	385,809.0	416,665.0
Maximum Exposure to Loss, On-Balance Sheet	10,889.0	12,114.0
Maximum Exposure to Loss, Off-Balance Sheet	3,208.0	3,160.0
Total maximum exposure to loss	14,097.0	15,274.0
Other invested assets	10,500.0	11,700.0
Unconsolidated VIE \| Real Estate and Investment Funds
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	378,378.0	409,087.0
Maximum Exposure to Loss, On-Balance Sheet	9,876.0	11,015.0
Maximum Exposure to Loss, Off-Balance Sheet	2,019.0	2,115.0
Total maximum exposure to loss	11,895.0	13,130.0
Unconsolidated VIE \| Affordable Housing Partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	4,549.0	4,709.0
Maximum Exposure to Loss, On-Balance Sheet	736.0	785.0
Maximum Exposure to Loss, Off-Balance Sheet	0.0	0.0
Total maximum exposure to loss	736.0	785.0
Unconsolidated VIE \| Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	2,882.0	2,869.0
Maximum Exposure to Loss, On-Balance Sheet	277.0	314.0
Maximum Exposure to Loss, Off-Balance Sheet	1,189.0	1,045.0
Total maximum exposure to loss	$ 1,466.0	$ 1,359.0

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of our derivative instruments) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	$ 111,242	$ 115,897
Gross Derivative Assets, Fair Value	3,614	3,977
Gross Derivative Liabilities, Notional Amount	58,630	64,938
Gross Derivative Liabilities, Fair Value	3,897	4,802
Derivative assets, Counterparty netting	(1,390)	(1,265)
Derivative assets, Cash collateral	(1,324)	(903)
Total derivative assets on consolidated balance sheet	900	1,809
Derivative liabilities, Counterparty netting	(1,390)	(1,265)
Derivative liabilities, Cash collateral	(1,395)	(1,521)
Total derivative liabilities on consolidated balance sheet	1,112	2,016
Bifurcated embedded derivatives
Derivative [Line Items]
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Fair Value	4,000	3,100
Derivatives designated as hedging instruments \| Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	290	175
Gross Derivative Assets, Fair Value	1	0
Gross Derivative Liabilities, Notional Amount	615	782
Gross Derivative Liabilities, Fair Value	9	11
Derivatives designated as hedging instruments \| Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	2,634	3,527
Gross Derivative Assets, Fair Value	198	385
Gross Derivative Liabilities, Notional Amount	4,546	2,602
Gross Derivative Liabilities, Fair Value	289	184
Derivatives designated as hedging instruments \| Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	0	0
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	143	113
Gross Derivative Liabilities, Fair Value	3	7
Derivatives not designated as hedging instruments \| Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	49,801	51,030
Gross Derivative Assets, Fair Value	2,253	2,328
Gross Derivative Liabilities, Notional Amount	33,303	44,211
Gross Derivative Liabilities, Fair Value	2,245	3,066
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	6,143	9,468
Gross Derivative Assets, Fair Value	669	935
Gross Derivative Liabilities, Notional Amount	10,763	7,674
Gross Derivative Liabilities, Fair Value	1,012	1,185
Derivatives not designated as hedging instruments \| Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	14,340	14,060
Gross Derivative Assets, Fair Value	469	305
Gross Derivative Liabilities, Notional Amount	8,224	8,633
Gross Derivative Liabilities, Fair Value	56	12
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	3	4
Gross Derivative Assets, Fair Value	1	2
Gross Derivative Liabilities, Notional Amount	975	861
Gross Derivative Liabilities, Fair Value	278	331
Derivatives not designated as hedging instruments \| Other contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	38,031	37,633
Gross Derivative Assets, Fair Value	23	22
Gross Derivative Liabilities, Notional Amount	61	62
Gross Derivative Liabilities, Fair Value	$ 5	$ 6

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Derivative [Line Items]
Derivative Liabilities, Notional Amount	$ 58,630	$ 64,938
Derivative Liabilities, Fair Value	3,897	4,802
Collateral
Collateral posted to third parties for derivative transactions	3,100	4,500
Collateral obtained from third parties for derivative transactions	1,300	1,500
Global Capital Markets (GCM) derivatives
Derivative [Line Items]
Derivative Liabilities, Notional Amount	716	801
Derivative Liabilities, Fair Value	$ 263	$ 308

DERIVATIVES AND HEDGE ACCOUNTING (Details - Hedge Accounting) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	$ (39)	$ 1	$ (87)	$ (8)
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	(1)	(1)	1	0
Gain (loss) recognized in earnings on hedged items	1	1	(1)	(6)
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	(6)
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	0	3	0	10
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	3	0	10
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	0
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	0
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	(157)	(10)	(318)	413
Gain (loss) recognized in earnings on hedged items	142	(34)	332	(443)
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	(15)	(44)	14	(30)
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	0	0	0
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				0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other				0
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	0	3	4	15
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other	0	3	4	15
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	0	0	0
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	0
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	(3)	8	(29)	28
Gain (loss) recognized in earnings on hedged items	2	(9)	26	(28)
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	(1)	(1)	(3)	0
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	(524)	(89)	(1,078)	(49)
Derivatives not designated as hedging instruments \| Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(550)	(181)	(1,250)	(93)
Derivatives not designated as hedging instruments \| Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(3)	2	(10)	14
Derivatives not designated as hedging instruments \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	8	69	121	(43)
Derivatives not designated as hedging instruments \| Policy fees
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	20	20	59	60
Derivatives not designated as hedging instruments \| Policyholder benefits and claims incurred
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	1	1	2	13
Derivatives not designated as hedging instruments \| Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(18)	91	81	1,464
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(98)	49	(220)	203
Derivatives not designated as hedging instruments \| Equity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	(233)	(317)	(723)	(589)
Derivatives not designated as hedging instruments \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	0	0	0	0
Derivatives not designated as hedging instruments \| Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	19	36	55	70
Derivatives not designated as hedging instruments \| Other contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	19	22	55	58
Derivatives not designated as hedging instruments \| Embedded derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives	$ (213)	$ 30	$ (326)	$ (1,255)

DERIVATIVES AND HEDGE ACCOUNTING (Details - Additional Information) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Credit Derivatives [Line Items]
Collateral posted	$ 3,100	$ 4,500
Fair value of hybrid securities	4,200	4,800
Par value of hybrid securities	9,300	10,100
Credit Risk Related Contingent Features [Member]
Credit Derivatives [Line Items]
Collateral posted	2,800	4,000
Aggregate fair value of net liability position	2,000	$ 3,000
Additional collateral postings and termination payments	$ 95
Global Capital Markets (GCM) derivatives \| Super Senior CDS \| Arbitrage \| Multi-sector CDOs
Credit Derivatives [Line Items]
Derivative weighted average maturity	6 years

INSURANCE LIABILITIES (Details - Liability for Unpaid Losses and Loss Adjustment Expenses - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Dec. 31, 2016
LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS
Collateral Held For Deductible Recoverable Amounts					$ 9,500	$ 9,700
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense:
Liability for unpaid claims and claims adjustment expense, balance at the beginning of the year	$ 76,422	$ 74,143	$ 77,077	$ 74,942
Reinsurance recoverable, balance at the beginning of the year	(27,660)	(14,520)	(15,532)	(14,339)
Liability for unpaid claims and claims adjustment expense, Net of Reinsurance	48,762	59,623	61,545	60,603
Foreign exchange effect	330	(147)	688	53
Dispositions	0	0	0	0
Retroactive reinsurance adjustment (net of discount)	22	0	(11,438)	0
Total	49,114	59,476	50,795	60,656
Losses and loss expenses incurred
Current year	7,511	4,960	16,021	14,896
Prior years, excluding discount and amortization of deferred gain	901	274	1,354	214
Prior years, amortization of deferred gain on retroactive reinsurance	(75)	0	(195)	0
Prior years, accretion of discount	48	32	283	323
Total	8,385	5,266	17,463	15,433
Losses and loss expenses paid
Current year	(1,634)	(1,948)	(3,342)	(3,945)
Prior years	(3,395)	(3,779)	(12,438)	(13,129)
Total	(5,029)	(5,727)	(15,780)	(17,074)
Reclassified to liabilities held for sale	8	(1,060)	0	1,060
Net liability for unpaid claims and claims adjustment expense, balance at the end of the year	52,478	57,955	52,478	57,955
Reinsurance recoverable, balance at the end of the year	27,609	14,501	27,609	14,501
Total, balance at the end of the year	80,087	72,456	80,087	72,456
Net Loss Reserves	52,478	$ 59,623	61,545	$ 60,603	$ 52,478	$ 61,545
U.S. Asbestos
Losses and loss expenses incurred
Prior years, amortization of deferred gain on retroactive reinsurance	$ (6)		$ (11)

INSURANCE LIABILITIES (Details - Narratives) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Jan. 20, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Insurance Liabilities Disclosure [Line Items]
Collateral Held For Deductible Recoverable Amounts		$ 9,500		$ 9,500			$ 9,700
Liability for Claims and Claims Adjustment Expense		80,087	$ 72,456	80,087	$ 72,456	$ 76,422	77,077	$ 74,143	$ 74,942
Net Loss Reserves		52,478	57,955	52,478	57,955	$ 48,762	61,545	$ 59,623	$ 60,603
Consideration paid	$ 10,200
Contractual deductible recoverable amount		12,400		12,400			12,800
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount		1,793		$ 1,793			3,570
Tabular Discount Rate				3.50%
Workers Compensation Tabular Discount Amount		491		$ 491
Workers Compensation Non Tabular Discount Amount		1,300		1,300
Increase (Decrease) in Loss Reserve Discount		(48)	(32)	$ (283)	(323)
New York
Discounting Of Loss Reserves [Abstract]
Non Tabular Discount Rate				5.00%
Pennsylvania \| Accident Year 2001 And prior
Discounting Of Loss Reserves [Abstract]
Non Tabular Discount Rate				6.00%
Legacy Property And Casualty Run Off Insurance Lines [Member]
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount		911		$ 911			$ 987
Increase (Decrease) in Loss Reserve Discount		$ 26	$ (15)	$ (76)	$ (141)

INSURANCE LIABILITIES (Details - Discounting of Reserves) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Discounting of Reserves [Line Items]
Tabular Discount Rate			3.50%
Workers Compensation Tabular Discount Amount	$ 491		$ 491
Workers Compensation Non Tabular Discount Amount	1,300		1,300
U.S. Workers' compensation	3,287		3,287		$ 3,570
Retroactive Reinsurance	(1,494)		(1,494)
Net loss reserve discount	1,793		1,793		3,570
Current accident year	33	$ 37	94	$ 118
Accretion and other adjustments to prior year discount	(75)	(55)	(239)	(146)
Effect of interest rate changes	(6)	(14)	(138)	(295)
Net reserve discount benefit (charge)	(48)	(32)	(283)	(323)
Change in discount on loss reserves ceded under retroactive reinsurance	53	0	(1,494)	0
Net change in total reserve discount	5	(32)	(1,777)	(323)
U.S Workers' compensation	5	(32)	(1,777)	(321)
Asbestos	0	0	0	(2)
US Liability And Financial Lines [Member]
Discounting of Reserves [Line Items]
U.S. Workers' compensation	2,376		2,376		2,583
Retroactive Reinsurance	(1,494)		(1,494)
Net loss reserve discount	882		882		2,583
Current accident year	33	37	94	118
Accretion and other adjustments to prior year discount	(100)	(43)	(205)	(104)
Effect of interest rate changes	(7)	(11)	(96)	(196)
Net reserve discount benefit (charge)	(74)	(17)	(207)	(182)
Change in discount on loss reserves ceded under retroactive reinsurance	53	0	(1,494)	0
Net change in total reserve discount	(21)	(17)	(1,701)	(182)
U.S Workers' compensation	(21)	(17)	(1,701)	(182)
Asbestos	0	0	0	0
Legacy Property And Casualty Run Off Insurance Lines [Member]
Discounting of Reserves [Line Items]
U.S. Workers' compensation	911		911		987
Net loss reserve discount	911		911		987
Current accident year	0	0	0	0
Accretion and other adjustments to prior year discount	25	(12)	(34)	(42)
Effect of interest rate changes	1	(3)	(42)	(99)
Net reserve discount benefit (charge)	26	(15)	(76)	(141)
Change in discount on loss reserves ceded under retroactive reinsurance	0	0	0	0
Net change in total reserve discount	26	(15)	(76)	(141)
U.S Workers' compensation	26	(15)	(76)	(139)
Asbestos	0	0	0	(2)
UNITED KINGDOM
Discounting of Reserves [Line Items]
Net loss reserve discount	167		167		$ 181
Net change in total reserve discount	$ (18)	$ 4	$ 20	$ (16)

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) $ in Millions						9 Months Ended		39 Months Ended
	Jun. 15, 2015 USD ($)	Oct. 22, 2014 USD ($)	Sep. 16, 2013 individual	Mar. 11, 2013 class	Nov. 21, 2011	Sep. 30, 2017 USD ($) complaint	Jan. 31, 2009 complaint	Feb. 09, 2015 complaint
Other Commitments
Other Commitments \| $						$ 3,100
Consolidated 2008 Securities Litigation
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed							8
Payment for legal settlement \| $		$ 960
Starr International Litigation
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed \| class				2
Damages claimed \| $	$ 40,000
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
Individual Securities Litigations [Member]
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of funds that are plaintiffs in similar actions								11
Number of actions brought against AIG						9
Number of cases that have been settled						8
Number of claims dismissed						2

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) $ in Millions	Sep. 30, 2017 USD ($)
Other Operations
Guarantor Obligations [Line Items]
Amount outstanding under standby letters of credit at end of period	$ 139

EQUITY (Details - Shares Outstanding) - USD ($)								9 Months Ended
EQUITY (Details - Shares Outstanding) - USD ($)	Nov. 02, 2017	Sep. 29, 2017	Jun. 28, 2017	Mar. 29, 2017	Sep. 29, 2016	Jun. 27, 2016	Mar. 28, 2016	Sep. 30, 2017	Sep. 30, 2016	May 03, 2017
The following table presents a roll forward of outstanding shares:
Shares, beginning of year								(911,335,651)
Shares, beginning of year								1,906,671,492
Shares, beginning of year								995,335,841
Issuances (in shares)								3,221,892
Shares repurchased								(99,677,646)	(153,000,000)
Shares, end of period								(1,007,791,405)
Shares, end of period								1,906,671,492
Shares, end of period								898,880,087
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Dividend paid (in dollars per share)		$ 0.32	$ 0.32	$ 0.32	$ 0.32	$ 0.32	$ 0.32
Date of Shareholders of Record		Sep. 15, 2017	Jun. 14, 2017	Mar. 15, 2017	Sep. 15, 2016	Jun. 13, 2016	Mar. 14, 2016
Shares repurchased (in shares)								99,677,646	153,000,000
Payments for Repurchase of Common Stock								$ 6,275,000,000	$ 8,506,000,000
Amount paid to purchase warrants								$ 3,000,000	$ 263,000,000
Warrants repurchased								185,000	15,000,000
Subsequent event
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Date of Shareholders of Record	Dec. 08, 2017
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, end of period								1,906,671,492
Common Stock Issued \| AIG
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Authorized amount of common Stock share repurchase										$ 2,500,000,000
Aggregate remaining authorization amount of common Stock share repurchase								$ 2,200,000,000
Treasury Stock
The following table presents a roll forward of outstanding shares:
Shares, beginning of year								(911,335,651)
Issuances (in shares)								3,221,892
Shares repurchased								(99,677,646)
Shares, end of period								(1,007,791,405)
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Shares repurchased (in shares)								99,677,646

EQUITY (Details - Rollforward of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			$ 3,230	$ 2,537
Change in unrealized appreciation (depreciation) of investments			4,257	10,555
Change in deferred acquisition costs adjustment and other			(1,325)	(927)
Change in future policy benefits			(425)	(2,099)
Changes in foreign currency translation adjustments			474	179
Net actuarial gain (loss)			134	13
Prior service (cost) credit			6	(20)
Deferred tax asset (liability)	$ (295)	$ (12)	(412)	(1,181)
Other Comprehensive Income (Loss)	977	798	2,709	6,520
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	325	111	447	332
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment	63	4	92	(4)
Noncontrolling interests				0
Balance, end of period, net of tax	5,939	9,057	5,939	9,057
Accumulated Other Comprehensive Income
A rollforward of Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)			2,709	6,520
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			426	696
Change in unrealized appreciation (depreciation) of investments			564	(318)
Change in deferred acquisition costs adjustment and other			(56)	(40)
Change in future policy benefits			0	0
Deferred tax asset (liability)	(53)	76	(178)	248
Other Comprehensive Income (Loss)	97	217	330	(110)
Balance, end of period, net of tax	756	586	756	586
Unrealized Appreciation (Depreciation) of All Other Investments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			6,405	5,566
Change in unrealized appreciation (depreciation) of investments			3,693	10,873
Change in deferred acquisition costs adjustment and other			(1,269)	(887)
Change in future policy benefits			(425)	(2,099)
Deferred tax asset (liability)	(206)	(187)	(159)	(1,585)
Other Comprehensive Income (Loss)	492	466	1,840	6,302
Balance, end of period, net of tax	8,245	11,868	8,245	11,868
Foreign Currency Translation Adjustments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			(2,629)	(2,879)
Changes in foreign currency translation adjustments			474	179
Deferred tax asset (liability)	(3)	90	(27)	153
Other Comprehensive Income (Loss)	325	111	447	332
Noncontrolling interests				0
Balance, end of period, net of tax	(2,182)	(2,547)	(2,182)	(2,547)
Retirement Plan Liabilities Adjustment
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax			(972)	(846)
Net actuarial gain (loss)			134	13
Prior service (cost) credit			6	(20)
Deferred tax asset (liability)	(33)	9	(48)	3
Other Comprehensive Income (Loss)	63	4	92	(4)
Balance, end of period, net of tax	$ (880)	$ (850)	$ (880)	$ (850)

EQUITY (Details - Other comprehensive income reclassification adjustments) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	$ 1,357	$ 976	$ 3,699	$ 8,642
Less: Reclassification adjustments included in net income	85	166	578	941
Total other comprehensive income (loss), before income tax expense (benefit)	1,272	810	3,121	7,701
Less: Income tax expense (benefit)	295	12	412	1,181
Other comprehensive income	977	798	2,709	6,520
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	160	147	553	(252)
Less: Reclassification adjustments included in net income	10	6	45	106
Total other comprehensive income (loss), before income tax expense (benefit)	150	141	508	(358)
Less: Income tax expense (benefit)	53	(76)	178	(248)
Other comprehensive income	97	217	330	(110)
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	831	816	2,610	8,733
Less: Reclassification adjustments included in net income	133	163	611	846
Total other comprehensive income (loss), before income tax expense (benefit)	698	653	1,999	7,887
Less: Income tax expense (benefit)	206	187	159	1,585
Other comprehensive income	492	466	1,840	6,302
Accumulated Translation Adjustment [Member]
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	328	21	474	179
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	328	21	474	179
Less: Income tax expense (benefit)	3	(90)	27	(153)
Other comprehensive income	325	111	447	332
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	38	(8)	62	(18)
Less: Reclassification adjustments included in net income	(58)	(3)	(78)	(11)
Total other comprehensive income (loss), before income tax expense (benefit)	96	(5)	140	(7)
Less: Income tax expense (benefit)	33	(9)	48	(3)
Other comprehensive income	$ 63	$ 4	$ 92	$ (4)

EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other realized capital losses	$ (848)	$ (693)	$ (911)	$ (461)
Amortization of deferred acquisition costs	912	1,018	3,135	3,625
Policyholder benefits and losses incurred	10,322	7,489	22,653	20,748
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax	85	166	578	941
Income from continuing operations before income tax expense (benefit)	(2,803)	737	591	3,381
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)	85	166	578	941
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	10	6	45	106
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 losses	10	6	45	106
Income from continuing operations before income tax expense (benefit)	10	6	45	106
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	133	163	611	846
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 losses	48	182	415	843
Amortization of deferred acquisition costs	85	(19)	196	3
Policyholder benefits and losses incurred	0	0	0	0
Income from continuing operations before income tax expense (benefit)	133	163	611	846
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	(58)	(3)	(78)	(11)
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	(58)	(3)	(78)	(11)
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	0	4	1	13
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	$ (58)	$ (7)	$ (79)	$ (24)

EARNINGS PER SHARE (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator for EPS:
Income (Loss) from Continuing Operations	$ (1,712)	$ 433	$ 609	$ 2,211
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	26	(26)	40	(35)
Net income (loss) attributable to AIG common shareholders from continuing operations	(1,738)	459	569	2,246
Income (loss) from discontinued operations, net of income tax expense	(1)	3	7	(54)
Net income (loss) attributable to AIG common shareholders	$ (1,739)	$ 462	$ 576	$ 2,192
Denominator for EPS:
Weighted average shares outstanding - basic	908,667,044	1,071,295,892	938,130,832	1,113,650,878
Dilutive shares	0	31,104,878	23,165,114	29,049,329
Weighted average shares outstanding - diluted	908,667,044	1,102,400,770	961,295,946	1,142,700,207
Basic:
Income (loss) from continuing operations	$ (1.91)	$ 0.43	$ 0.6	$ 2.02
Income (loss) from discontinued operations	0	0	0.01	(0.05)
Net income (loss) attributable to AIG	(1.91)	0.43	0.61	1.97
Diluted:
Income (loss) from continuing operations	(1.91)	0.42	0.59	1.97
Income (loss) from discontinued operations	0	0	0.01	(0.05)
Net Income (loss) attributable to AIG	$ (1.91)	$ 0.42	$ 0.6	$ 1.92
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive	2,400,000	100,000	2,000,000	200,000
Dilutive Shares Excluded From Computation Of Diluted Earnings Per Share	22,459,868

EMPLOYEE BENEFITS (Details - Pension and Postretirement Plans) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Pensions
Components of net periodic benefit cost:
Service cost	$ 2	$ 14	$ 31	$ 38
Interest cost	45	50	138	151
Expected return on assets	(72)	(79)	(212)	(239)
Amortization of prior service (credit) cost	0	0	0	0
Amortization of net (gain) loss	9	9	29	25
Curtailment (gain) loss	(5)	(2)	(5)	(5)
Settlement (Credit)/Charges	50		50
Net periodic benefit cost (credit)	29	(8)	31	(30)
Pensions \| U.S. Plans
Components of net periodic benefit cost:
Service cost	(5)	6	8	15
Interest cost	41	45	126	136
Expected return on assets	(66)	(72)	(194)	(219)
Amortization of prior service (credit) cost	0	0	0	0
Amortization of net (gain) loss	6	7	20	19
Curtailment (gain) loss	0	0	0	0
Settlement (Credit)/Charges	50		50
Net periodic benefit cost (credit)	26	(14)	10	(49)
Pensions \| Non U.S. Plans
Components of net periodic benefit cost:
Service cost	7	8	23	23
Interest cost	4	5	12	15
Expected return on assets	(6)	(7)	(18)	(20)
Amortization of prior service (credit) cost	0	0	0	0
Amortization of net (gain) loss	3	2	9	6
Curtailment (gain) loss	(5)	(2)	(5)	(5)
Net periodic benefit cost (credit)	3	6	21	19
Postretirement Plans
Components of net periodic benefit cost:
Service cost	1	1	3	4
Interest cost	3	2	8	7
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	0	(2)	(1)	(7)
Amortization of net (gain) loss	0	0	0	0
Curtailment (gain) loss	0	0	0	0
Net periodic benefit cost (credit)	4	1	10	4
Postretirement Plans \| U.S. Plans
Components of net periodic benefit cost:
Service cost	0	1	1	2
Interest cost	2	2	5	5
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	0	(2)	(1)	(7)
Amortization of net (gain) loss	0	(1)	0	(1)
Curtailment (gain) loss	0	0	0	0
Net periodic benefit cost (credit)	2	0	5	(1)
Change in Accounting Estimate [Abstract]
AIG contributions			310
Postretirement Plans \| Non U.S. Plans
Components of net periodic benefit cost:
Service cost	1	0	2	2
Interest cost	1	0	3	2
Expected return on assets	0	0	0	0
Amortization of prior service (credit) cost	0	0	0	0
Amortization of net (gain) loss	0	1	0	1
Curtailment (gain) loss	0	0	0	0
Net periodic benefit cost (credit)	$ 2	$ 1	$ 5	$ 5

INCOME TAXES (Details - Income (loss) from continuing operations and income tax expense (benefit)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Income (loss) from continuing operations before income tax expense (benefit)
Income (loss) from continuing operations before income tax expense (benefit)	$ (2,803)	$ 737	$ 591	$ 3,381
U.S.:
Income tax expense (benefit)	(1,091)	304	(18)	1,170
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)	(2,803)	737	591	3,381
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)	(1,091)	$ 304	(18)	$ 1,170
Valuation allowance
Increase (Decrease) in certain other valuation allowances associated with foreign jurisdictions	24		1
Increase (Decrease) in certain other valuation allowances associated with certain state jurisdictions.	$ (26)		(26)
Valuation allowance related to unrealized losses that are no more-likely-than-not to be realized			$ 0
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)	38.90%	41.20%	0.00%	34.60%
Accounting for Uncertainty in Income Taxes
Unrecognized tax benefits, excluding interest and penalties	$ 4,600		$ 4,600		$ 4,500
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	4,500		4,500		4,400
Unrecognized tax benefits, interest and penalties accrued	$ 1,300		1,300		$ 1,200
Unrecognized tax benefits, interest net of the federal benefit (expense) and penalties			$ (102)	$ 16
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.

INCOME TAXES (Details - Assessment of Deferred Tax Asset (liabilities) Valuation Allowance) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2017	Jun. 30, 2017
Non-Life Companies [Member]
Deferred Tax Assets, Liabilities [Line Items]
Deferred tax asset valuation allowance allocated to other comprehensive income	$ 0	$ 260
Life Insurance Companies [Member]
Deferred Tax Assets, Liabilities [Line Items]
Deferred tax asset valuation allowance allocated to other comprehensive income	$ 0	$ 468

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Balance Sheets) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Assets:
Short-term investments	$ 9,775	$ 12,302
Other investments	311,348	315,873
Total investments	321,123	328,175
Cash	2,433	1,868	$ 2,498	$ 1,629
Other assets, including deferred income taxes	179,517	161,022
Assets held for sale	0	7,199
Total assets	503,073	498,264
Liabilities:
Insurance liabilities	282,469	275,120
Long-term Debt	31,039	30,912
Other liabilities, including intercompany balances	116,553	109,268
Liabilities held for sale	0	6,106
Total liabilities	430,061	421,406
Total AIG shareholders' equity	72,468	76,300
Non-redeemable noncontrolling interests	544	558
Total equity	73,012	76,858	89,165	90,210
Total liabilities and equity	503,073	498,264
AIG (As Guarantor)
Assets:
Short-term investments	2,675	4,424
Other investments	5,796	7,154
Total investments	8,471	11,578
Cash	3	2	217	34
Loans to subsidiaries	35,014	34,692
Investment in consolidated subsidiaries	43,014	42,582
Other assets, including deferred income taxes	21,483	24,099
Total assets	107,985	112,953
Liabilities:
Long-term Debt	21,480	21,405
Other liabilities, including intercompany balances	13,463	14,671
Loans from subsidiaries	574	577
Total liabilities	35,517	36,653
Total AIG shareholders' equity	72,468	76,300
Total equity	72,468	76,300
Total liabilities and equity	107,985	112,953
AIGLH
Assets:
Cash	2	34	6	116
Investment in consolidated subsidiaries	31,323	27,309
Other assets, including deferred income taxes	251	239
Total assets	31,576	27,582
Liabilities:
Long-term Debt	642	642
Other liabilities, including intercompany balances	184	194
Loans from subsidiaries	0	0
Total liabilities	826	836
Total AIG shareholders' equity	30,750	26,746
Total equity	30,750	26,746
Total liabilities and equity	31,576	27,582
Other Subsidiaries
Assets:
Short-term investments	10,659	13,218
Other investments	305,552	308,719
Total investments	316,211	321,937
Cash	2,428	1,832	$ 2,275	$ 1,479
Loans to subsidiaries	574	576
Other assets, including deferred income taxes	160,018	140,743
Assets held for sale	0	7,199
Total assets	479,231	472,287
Liabilities:
Insurance liabilities	282,469	275,120
Long-term Debt	8,917	8,865
Other liabilities, including intercompany balances	108,873	103,975
Loans from subsidiaries	35,014	34,691
Liabilities held for sale	0	6,106
Total liabilities	435,273	428,757
Total AIG shareholders' equity	43,414	42,972
Non-redeemable noncontrolling interests	544	558
Total equity	43,958	43,530
Total liabilities and equity	479,231	472,287
Reclassification and Eliminations [Member]
Assets:
Short-term investments	(3,559)	(5,340)
Other investments	0
Total investments	(3,559)	(5,340)
Loans to subsidiaries	(35,588)	(35,268)
Investment in consolidated subsidiaries	(74,337)	(69,891)
Other assets, including deferred income taxes	(2,235)	(4,059)
Total assets	(115,719)	(114,558)
Liabilities:
Other liabilities, including intercompany balances	(5,967)	(9,572)
Loans from subsidiaries	(35,588)	(35,268)
Total liabilities	(41,555)	(44,840)
Total AIG shareholders' equity	(74,164)	(69,718)
Total equity	(74,164)	(69,718)
Total liabilities and equity	$ (115,719)	$ (114,558)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Income (Loss)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Equity in earnings of consolidated subsidiaries	$ 0	$ 0	$ 0	$ 0
Other income	11,751	12,854	36,885	39,357
Total revenues	11,751	12,854	36,885	39,357
Expenses:
Interest expense	290	329	880	955
(Gains) losses on extinguishment of debt	1	(14)	(4)	76
Other expenses	14,263	11,802	35,418	34,945
Total benefits, losses and expenses	14,554	12,117	36,294	35,976
Income (loss) from continuing operations before income tax expense (benefit)	(2,803)	737	591	3,381
Income tax expense (benefit)	(1,091)	304	(18)	1,170
Income (loss) from continuing operations	(1,712)	433	609	2,211
Income (loss) from discontinued operations, net of income taxes	(1)	3	7	(54)
Net income (loss)	(1,713)	436	616	2,157
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	26	(26)	40	(35)
Net income (loss) attributable to AIG	(1,739)	462	576	2,192
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries	(2,098)	1,002	794	2,226
Other income	225	145	653	209
Total revenues	(1,873)	1,147	1,447	2,435
Expenses:
Interest expense	236	249	719	743
(Gains) losses on extinguishment of debt	2	0	2	77
Other expenses	177	238	693	686
Total benefits, losses and expenses	415	487	1,414	1,506
Income (loss) from continuing operations before income tax expense (benefit)	(2,288)	660	33	929
Income tax expense (benefit)	(549)	197	(544)	(1,265)
Income (loss) from continuing operations	(1,739)	463	577	2,194
Income (loss) from discontinued operations, net of income taxes	0	(1)	(1)	(2)
Net income (loss)	(1,739)	462	576	2,192
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	(1,739)	462	576	2,192
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries	1,138	528	2,553	(267)
Other income	0	0	0	5
Total revenues	1,138	528	2,553	(262)
Expenses:
Interest expense	12	12	37	39
(Gains) losses on extinguishment of debt	0	0	0	0
Other expenses	1	1	2	15
Total benefits, losses and expenses	13	13	39	54
Income (loss) from continuing operations before income tax expense (benefit)	1,125	515	2,514	(316)
Income tax expense (benefit)	(4)	(4)	(12)	(17)
Income (loss) from continuing operations	1,129	519	2,526	(299)
Income (loss) from discontinued operations, net of income taxes	0	0	0	0
Net income (loss)	1,129	519	2,526	(299)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	1,129	519	2,526	(299)
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries	0	0	0	0
Other income	11,455	12,952	36,085	39,833
Total revenues	11,455	12,952	36,085	39,833
Expenses:
Interest expense	44	69	129	177
(Gains) losses on extinguishment of debt	(1)	(14)	(6)	(1)
Other expenses	14,154	11,821	34,865	34,946
Total benefits, losses and expenses	14,197	11,876	34,988	35,122
Income (loss) from continuing operations before income tax expense (benefit)	(2,742)	1,076	1,097	4,711
Income tax expense (benefit)	(538)	111	538	2,452
Income (loss) from continuing operations	(2,204)	965	559	2,259
Income (loss) from discontinued operations, net of income taxes	(1)	4	8	(52)
Net income (loss)	(2,205)	969	567	2,207
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	26	(26)	40	(35)
Net income (loss) attributable to AIG	(2,231)	995	527	2,242
Reclassification and Eliminations [Member]
Revenues:
Equity in earnings of consolidated subsidiaries	960	(1,530)	(3,347)	(1,959)
Other income	71	(243)	147	(690)
Total revenues	1,031	(1,773)	(3,200)	(2,649)
Expenses:
Interest expense	(2)	(1)	(5)	(4)
(Gains) losses on extinguishment of debt	0	0	0	0
Other expenses	(69)	(258)	(142)	(702)
Total benefits, losses and expenses	(71)	(259)	(147)	(706)
Income (loss) from continuing operations before income tax expense (benefit)	1,102	(1,514)	(3,053)	(1,943)
Income tax expense (benefit)	0	0	0	0
Income (loss) from continuing operations	1,102	(1,514)	(3,053)	(1,943)
Income (loss) from discontinued operations, net of income taxes	0	0	0	0
Net income (loss)	1,102	(1,514)	(3,053)	(1,943)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to AIG	$ 1,102	$ (1,514)	$ (3,053)	$ (1,943)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Comprehensive Income (Loss)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ (1,713)	$ 436	$ 616	$ 2,157
Other Comprehensive Income (Loss)	977	798	2,709	6,520
Comprehensive income (loss)	(736)	1,234	3,325	8,677
Total comprehensive income (loss) attributable to noncontrolling interests	26	(26)	40	(35)
Comprehensive income (loss) attributable to AIG	(762)	1,260	3,285	8,712
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(1,739)	462	576	2,192
Other Comprehensive Income (Loss)	977	798	2,709	6,520
Comprehensive income (loss)	(762)	1,260	3,285	8,712
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	(762)	1,260	3,285	8,712
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,129	519	2,526	(299)
Other Comprehensive Income (Loss)	1,274	(56)	7,056	7,204
Comprehensive income (loss)	2,403	463	9,582	6,905
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	2,403	463	9,582	6,905
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(2,205)	969	567	2,207
Other Comprehensive Income (Loss)	(30,625)	7	18,864	48,555
Comprehensive income (loss)	(32,830)	976	19,431	50,762
Total comprehensive income (loss) attributable to noncontrolling interests	26	(26)	40	(35)
Comprehensive income (loss) attributable to AIG	(32,856)	1,002	19,391	50,797
Reclassification and Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,102	(1,514)	(3,053)	(1,943)
Other Comprehensive Income (Loss)	29,351	49	(25,920)	(55,759)
Comprehensive income (loss)	30,453	(1,465)	(28,973)	(57,702)
Total comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to AIG	$ 30,453	$ (1,465)	$ (28,973)	$ (57,702)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ (9,195)	$ 1,753
Cash flows from investing activities:
Sales of investments	60,834	53,344
Sale of divested businesses, net	605
Purchase of investments	(47,948)	(53,385)
Loans to subsidiaries - net	0	0
Contributions from (to) subsidiaries - net	0	0
Net change in restricted cash	(23)	(49)
Net change in short-term investments	2,815	(855)
Other, net	(1,509)	1,270
Net cash provided by (used in) investing activities	14,774	325
Cash flows from financing activities:
Issuance of long-term debt	2,405	11,430
Repayments of long-term debt	(2,751)	(7,683)
Issuance of Common Stock	0	0
Purchase of Common Stock	(6,275)	(8,506)
Intercompany loans - net		0
Cash dividends paid	(884)	(1,051)
Other, net	2,379	4,513
Net cash provided by (used in) financing activities	(5,126)	(1,297)
Effect of exchange rate changes on cash	(21)	88
Net increase (decrease) in cash	432	869
Cash at beginning of year	1,868	1,629
Change in cash of businesses held for sale	133
Cash at end of Period	2,433	2,498
Interest:
Third party	(1,046)	(1,009)
Intercompany	0	0
Taxes:
Income tax authorities	(490)	(208)
Intercompany	0	0
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	793	1,671
Cash flows from investing activities:
Sales of investments	5,428	3,242
Sale of divested businesses, net	40
Purchase of investments	(1,781)	(659)
Loans to subsidiaries - net	38	1,025
Contributions from (to) subsidiaries - net	990	1,593
Net change in restricted cash	0	0
Net change in short-term investments	1,925	1,006
Other, net	(17)	(179)
Net cash provided by (used in) investing activities	6,623	6,028
Cash flows from financing activities:
Issuance of long-term debt	1,108	3,831
Repayments of long-term debt	(1,354)	(1,454)
Issuance of Common Stock	0	0
Purchase of Common Stock	(6,275)	(8,506)
Intercompany loans - net	(5)	(73)
Cash dividends paid	(884)	(1,051)
Other, net	(5)	(263)
Net cash provided by (used in) financing activities	(7,415)	(7,516)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash	1	183
Cash at beginning of year	2	34
Cash at end of Period	3	217
Interest:
Third party	(791)	(797)
Intercompany	(1)	0
Taxes:
Income tax authorities	(324)	(11)
Intercompany	1,852	782
Non-cash financing and investing activities:
Return of capital	26	0
Dividends received in the form of securities	735	4,055
Capital contributions	198	3,086
Fixed maturity securities received in exchange for equity securities	0	440
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	1,105	1,664
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	(4)	0
Net cash provided by (used in) investing activities	(4)	0
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	(62)
Issuance of Common Stock	0	0
Purchase of Common Stock	0	0
Intercompany loans - net	0	(3)
Cash dividends paid	(1,133)	(1,709)
Other, net	0	0
Net cash provided by (used in) financing activities	(1,133)	(1,774)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash	(32)	(110)
Cash at beginning of year	34	116
Cash at end of Period	2	6
Interest:
Third party	(47)	(51)
Intercompany	(1)	0
Taxes:
Income tax authorities	0	0
Intercompany	0	0
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(8,773)	2,277
Cash flows from investing activities:
Sales of investments	58,914	59,669
Sale of divested businesses, net	565
Purchase of investments	(49,675)	(62,293)
Loans to subsidiaries - net	5	73
Contributions from (to) subsidiaries - net	0	0
Net change in restricted cash	(23)	(49)
Net change in short-term investments	890	(1,861)
Other, net	(1,488)	1,449
Net cash provided by (used in) investing activities	9,188	(3,012)
Cash flows from financing activities:
Issuance of long-term debt	1,297	7,599
Repayments of long-term debt	(1,397)	(6,167)
Issuance of Common Stock	0	0
Purchase of Common Stock	0	0
Intercompany loans - net	(38)	(1,022)
Cash dividends paid	(1,187)	(2,150)
Other, net	1,394	3,183
Net cash provided by (used in) financing activities	69	1,443
Effect of exchange rate changes on cash	(21)	88
Net increase (decrease) in cash	463	796
Cash at beginning of year	1,832	1,479
Change in cash of businesses held for sale	133
Cash at end of Period	2,428	2,275
Interest:
Third party	(208)	(161)
Intercompany	2	0
Taxes:
Income tax authorities	(166)	(197)
Intercompany	(1,852)	(782)
Reclassification and Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(2,320)	(3,859)
Cash flows from investing activities:
Sales of investments	(3,508)	(9,567)
Purchase of investments	3,508	9,567
Loans to subsidiaries - net	(43)	(1,098)
Contributions from (to) subsidiaries - net	(990)	(1,593)
Net cash provided by (used in) investing activities	(1,033)	(2,691)
Cash flows from financing activities:
Issuance of long-term debt	0	0
Repayments of long-term debt	0	0
Issuance of Common Stock	0	0
Intercompany loans - net	43	1,098
Cash dividends paid	2,320	3,859
Other, net	990	1,593
Net cash provided by (used in) financing activities	3,353	6,550
Interest:
Third party	0	0
Intercompany	0	0
Taxes:
Income tax authorities		0
Intercompany	$ 0	$ 0

SUBSEQUENT EVENTS (Details) - $ / shares								3 Months Ended		9 Months Ended
SUBSEQUENT EVENTS (Details) - $ / shares	Nov. 02, 2017	Sep. 29, 2017	Jun. 28, 2017	Mar. 29, 2017	Sep. 29, 2016	Jun. 27, 2016	Mar. 28, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Subsequent Event [Line Items]
Dividends declared per common share								$ 0.32	$ 0.32	$ 0.96	$ 0.96
Date of Shareholders of Record		Sep. 15, 2017	Jun. 14, 2017	Mar. 15, 2017	Sep. 15, 2016	Jun. 13, 2016	Mar. 14, 2016
Subsequent event
Subsequent Event [Line Items]
Dividends declared per common share	$ 0.32
Date Dividends Declared	Nov. 02, 2017
Date Dividends To Be Paid	Dec. 22, 2017
Date of Shareholders of Record	Dec. 08, 2017

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
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	$ 442	$ 476	$ 1,473	$ 990
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	299	65	594	1,508
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	299	65	594	1,508
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	(51)	(59)	(141)	(54)
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	0	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	(5)	(5)	(13)	(1)
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	(46)	(54)	(128)	(53)
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	3	16	3
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	3	16	3
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	265	268	821	830
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	257	294	849	883
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	8	(27)	(28)	(56)
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	0	1	0	3
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	177	212	649	165
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	87	37	259	29
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	(2)	13	0	45
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	92	162	390	91
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		0
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
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		0
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
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	0	0		0
Other equity securities \| Investment Income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net realized and unrealized gains and losses related to Level 3 items, assets		0
Other 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	0	(4)	3	(5)
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	2	5	5	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	1	(3)	(1)	29
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	$ (3)	$ (6)	$ (1)	$ (36)