Policyholder contract deposits, portion measured at fair value

3,711

4,150

Other liabilities, portion measured at fair value

1,158

1,124

Long-term debt, portion measured at fair value

2,820

2,888

Assets:

221

^[1]

317

Assets:

Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:

$ 47

^[1]

$ 58

[1]	Includes funds held for tax sharing payments to AIG Parent, security deposits for certain leased aircraft and escrow funds, security deposits and replacement reserve deposits related to our affordable housing investments.

CONSOLIDATED BALANCE SHEETS (Parenthetical - equity) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
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	1,008,989,984	1,007,626,835

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Premiums	$ 7,275	$ 7,782
Policy fees	764	724
Net investment income	3,261	3,686
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities	(75)	(39)
Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Other comprehensive income (loss)	(12)	(21)
Net other-than-temporary impairments on available for sale securities recognized in net income (loss)	(87)	(60)
Other realized capital gains (losses)	68	(55)
Total net realized capital gains (losses)	(19)	(115)
Other income	431	555
Total revenues	11,712	12,632
Benefits, losses and expenses:
Policyholder benefits and losses incurred	5,667	6,047
Interest credited to policyholder account balances	916	910
Amortization of deferred policy acquisition costs	1,358	1,108
General operating and other expenses	2,271	2,443
Interest expense	277	298
(Gain) loss on extinguishment of debt	4	(1)
Net (gain) loss on sale of divested businesses	(8)	100
Total benefits, losses and expenses	10,485	10,905
Income (loss) from continuing operations before income tax expense (benefit)	1,227	1,727
Income tax expense (benefit):
Income tax expense (benefit)	277	516
Income (loss) from continuing operations	950	1,211
Income (loss) from discontinued operations, net of income tax expense	(1)	0
Net income (loss)	949	1,211
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	26
Net income (loss) attributable to AIG	$ 938	$ 1,185
Basic:
Income (loss) from continuing operations	$ 1.03	$ 1.21
Income (loss) from discontinued operations	0	0
Net income (loss) attributable to AIG	1.03	1.21
Diluted:
Income (loss) from continuing operations	1.01	1.18
Income (loss) from discontinued operations	0	0
Net income (loss) attributable to AIG	$ 1.01	$ 1.18
Weighted average shares outstanding:
Basic	907,951,597	980,777,243
Diluted	925,266,577	1,005,315,030
Dividends declared per common share	$ 0.32	$ 0.32

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ 949	$ 1,211
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	(150)	114
Change in unrealized appreciation (depreciation) of all other investments	(2,708)	695
Change in foreign currency translation adjustments	158	(276)
Change in retirement plan liabilities adjustment	29	18
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	2	0
Other comprehensive income (loss)	(2,669)	551
Comprehensive income (loss)	(1,720)	1,762
Comprehensive income (loss) attributable to noncontrolling interests	11	26
Comprehensive income (loss) attributable to AIG	$ (1,731)	$ 1,736

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, 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	(163)	(163)	0	139	(302)	0	0	0
Purchase of common stock	(3,585)	(3,585)	0	(3,585)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	1,211	1,185	0	0	0	1,185	0	26
Dividends	(307)	(307)	0	0	0	(307)	0	0
Other Comprehensive Income (Loss)	551	551	0	0	0	0	551	0
Current and deferred income taxes	0	0	0	0	0	0	0	0
Net increase due to acquisitions and consolidations	39	0	0	0	0	0	0	39
Contributions from noncontrolling interests	0	0	0	0	0	0	0	0
Distributions to noncontrolling interests	(37)	0	0	0	0	0	0	(37)
Other	100	88	0	2	84	2	0	12
Balance at Mar. 31, 2017	74,667	74,069	4,766	(44,915)	80,846	29,591	3,781	598
Balance at Dec. 31, 2017	65,708	65,171	4,766	(47,595)	81,078	21,457	5,465	537
Increase (Decrease) in Stockholders' Equity
Common stock issued under stock plans	(150)	(150)	0	186	(336)	0	0	0
Purchase of common stock	(298)	(298)	0	(298)	0	0	0	0
Net income (loss) attributable to AIG or noncontrolling interests	949	938	0	0	0	938	0	11
Dividends	(289)	(289)	0	0	0	(289)	0	0
Other Comprehensive Income (Loss)	(2,669)	(2,669)	0	0	0	0	(2,669)	0
Net increase due to acquisitions and consolidations	36	0	0	0	0	0	0	36
Contributions from noncontrolling interests	10	0	0	0	0	0	0	10
Distributions to noncontrolling interests	(25)	0	0	0	0	0	0	(25)
Other	93	97	0	1	99	(3)	0	(4)
Balance at Mar. 31, 2018	63,357	62,792	4,766	(47,706)	80,841	22,671	2,220	565
Increase (Decrease) in Stockholders' Equity
Cumulative effect of change in accounting principle, net of tax	$ (8)	$ (8)	$ 0	$ 0	$ 0	$ 568	$ (576)	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ 949	$ 1,211
(Income) loss from discontinued operations	1	0
Noncash revenues, expenses, gains and losses included in income:
Net gains on sales of securities available for sale and other assets	(120)	(112)
Net (gains) losses on sales of divested businesses	(8)	100
(Gains) losses on extinguishment of debt	4	(1)
Unrealized (gains) losses in earnings - net	268	(226)
Equity in income from equity method investments, net of dividends or distributions	(86)	(109)
Depreciation and other amortization	1,382	1,012
Impairments of assets	105	173
Changes in operating assets and liabilities:
Insurance reserves	137	401
Premiums and other receivables and payables - net	400	(189)
Reinsurance assets and funds held under reinsurance treaties	(1,706)	(12,237)
Capitalization of deferred policy acquisition costs	(1,397)	(1,201)
Current and deferred income taxes - net	250	446
Other, net	(1,117)	396
Total adjustments	(1,888)	(11,547)
Net cash provided by (used in) operating activities	(938)	(10,336)
Sales or distribution of:
Available for sale securities	5,638	15,307
Other securities	1,385	888
Other invested assets	1,064	1,816
Divested businesses, net	6	24
Maturities of fixed maturity securities available for sale	5,347	7,145
Principal payments received on and sales of mortgage and other loans receivable	1,037	1,543
Purchases of:
Available for sale securities	(9,042)	(10,028)
Other securities	(384)	(185)
Other invested assets	(847)	(783)
Mortgage and other loans receivable	(2,490)	(2,181)
Net change in short-term investments	(3,040)	1,250
Other, net	(646)	(297)
Net cash provided by (used in) investing activities	(1,972)	14,499
Proceeds from (payments for)
Policyholder contract deposits	7,069	4,002
Policyholder contract withdrawals	(4,160)	(3,682)
Issuance of long-term debt	3,039	151
Repayments of long-term debt	(1,327)	(602)
Purchase of Common Stock	(298)	(3,585)
Dividends paid	(289)	(307)
Other, net	(1,548)	(25)
Net cash provided by (used in) financing activities	2,486	(4,048)
Effect of exchange rate changes on cash and restricted cash	58	(82)
Net increase (decrease) in cash and restricted cash	(366)	33
Cash and restricted cash at beginning of year	2,737	2,107
Change in cash of businesses held for sale	0	52
Cash and restricted cash at end of period	$ 2,371	$ 2,192

Supplementary Disclosure of Consolidated Cash Flow Information - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows

$ 2,103

$ 1,918

2,371

2,192

Cash paid during the period for:

Interest

357

354

Taxes

Non-cash investing/financing activities:

Interest credited to policyholder contract deposits included in financing activities

825

824

Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:

^[1]

221

213

Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:

^[1]

$ 47

$ 61

[1]	Includes funds held for tax sharing payments to AIG Parent, security deposits for certain leased aircraft and escrow funds, security deposits and replacement reserve deposits related to our affordable housing investments.

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2018
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, 2017 (the 2017 Annual Report). The condensed consolidated financial information as of December 31, 2017 included herein has been derived from the audited Consolidated Financial Statements in the 2017 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 March 31, 2018 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: 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; allowances for loan losses; liability for legal contingencies; fair value measurements of certain financial assets and liabilities; and 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 and provisional estimates associated with the Tax Act. 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	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2018
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. Summary of Significant Accounting Policies Accounting Standards Adopted During 2018 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 adopted the standard using the modified retrospective approach on its required effective date of January 1, 2018. Our analysis of revenues indicated that substantially all of our revenues were from sources excluded from the scope of the standard. For those revenue sources within the scope of the standard, there were no material changes in the timing or measurement of revenues based upon the guidance. As substantially all of our revenue sources were excluded from the scope of the standard, the adoption of the standard did not 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 adopted the standard on its effective date of January 1, 2018 using the modified retrospective approach. The impact of the adoption is primarily related to the reclassification of unrealized gains of equity securities resulting in a net decrease to beginning Accumulated other comprehensive income and a corresponding net increase to beginning Retained earnings of $824 million. 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. We adopted the standard retrospectively on its effective date of January 1, 2018. The standard addresses presentation in the statement of cash flows only and did not have a material impact 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 adopted the standard on its effective date of January 1, 2018 using a modified retrospective approach. The adoption of this standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or 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 adopted 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 had no effect on our reported consolidated financial condition, results of operations or required disclosures. Gains and Losses from the Derecognition of Nonfinancial Assets In February 2017, the FASB issued an accounting standard that clarifies the scope of the derecognition guidance for the sale, transfer and derecognition of non-financial assets to noncustomers that aligns with the new revenue recognition principles. The standard also adds new accounting for partial sales of nonfinancial assets (including real estate) that requires an entity to derecognize a nonfinancial asset when it 1) ceases to have a controlling financial interest in the legal entity that holds the asset based on the consolidation model and 2) transfers control of the asset based on the revenue recognition model. We adopted this standard on its effective date of January 1, 2018 under the modified retrospective approach. Based on our evaluation, the standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or 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 adopted this standard on its effective date of January 1, 2018. The standard primarily addresses the presentation of the service cost component of net periodic benefit costs in the income statement. AIG’s U.S. pension plans are frozen and no longer accrue benefits, which are reflected as service costs. Therefore, the standard did not have a material effect 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 prospectively adopted this standard on its effective date of January 1, 2018 and the standard did not have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued an accounting standard that allows the optional reclassification of stranded tax effects within accumulated other comprehensive income to retained earnings that arise due to the enactment of the Tax Cuts and Jobs Act of 2017 (Tax Act). The amount of the reclassification would reflect the effect of the change in the U.S. federal corporate income tax rate on the gross deferred tax amounts and related valuation allowances, if any, at the date of enactment of the Tax Act and other income tax effects of the Tax Act on items remaining in accumulated other comprehensive income. We adopted the standard effective January 1, 2018. The impact of the adoption of the standard resulted in an increase to beginning Accumulated other comprehensive income and a corresponding decrease to beginning Retained earnings of $248 million. For more information on the adoption of the Tax Act, see Note 14. Future Application of Accounting Standards 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. 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. We are evaluating the timing of our adoption. Any impact of the standard will be dependent on the market conditions of the reporting units at the time of adoption. 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. 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

3 Months Ended

Mar. 31, 2018

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, as follows.

General Insurance

General Insurance business is presented as two operating segments:

North America — consists of insurance businesses in the United States, Canada and Bermuda.
International — consists of insurance businesses in Japan, the United Kingdom, Europe, Asia Pacific, Latin America, Puerto Rico, Australia, the Middle East and Africa.

Results are presented before internal reinsurance transactions. North America and International operating segments consist of the following products:

– Commercial Lines — consists of Liability, Financial Lines, Property and Special Risks.

– Personal Insurance — consists of Personal Lines and Accident and Health.

Life and Retirement

Life and Retirement business is presented as four operating segments:

Individual Retirement — consists of fixed annuities, fixed index annuities, variable annuities and retail mutual funds.
Group Retirement — consists of group mutual funds, group fixed annuities, group variable annuities, individual annuity and investment products, financial planning and advisory services.
Life Insurance — primary products in the U.S. include term life and universal life insurance. International operations include distribution of life and health products in the UK and Ireland.
Institutional Markets — consists of stable value wrap products, structured settlement and pension risk transfer annuities, corporate- and bank-owned life insurance and guaranteed investment contracts (GICs).

Other Operations

Other Operations category consists of:

Income from assets held by AIG Parent and other corporate subsidiaries.
General operating expenses not attributable to specific reporting segments.
Interest expense.
Blackboard — a data-enabled, digital subsidiary that provides the commercial insurance industry with alternative solutions using digital technology, data analytics and automation.
Fuji Life — consists of term insurance, life insurance, endowment policies and annuities. The sale of this business was completed on April 30, 2017.

Legacy Portfolio

Legacy Portfolio segment consists of:

Legacy Insurance Lines represent exited or discontinued product lines, policy forms or distribution channels. Effective February 2018, our newly formed Bermuda domiciled composite reinsurer, DSA Reinsurance Company, Ltd. (DSA Re) is included in our Legacy Portfolio.

Legacy General Insurance Run-Off Lines — consists of asbestos and environmental exposures and other exposures within certain Property and Casualty profit centers no longer actively marketed, including excess workers’ compensation, environmental impairment liability, public entity liability, accident & health, physicians and surgeons professional liability, and various other workers’ compensation and general liability exposures.
Legacy Life and Retirement Run-Off Lines — include whole life, long-term care and exited accident & health product lines. Also includes certain structured settlement, pension risk transfer annuities and single premium immediate annuities written prior to April 2012.
Legacy Investments — include investment classes that we have placed into run-off.

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

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

Three Months Ended March 31,	2018				2017
				Adjusted				Adjusted
		Total		Pre-tax		Total		Pre-tax
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
General Insurance
North America	$	3,340	$	320	$	3,840	$	828
International		4,104		190		3,698		233
Total General Insurance		7,444		510		7,538		1,061
Life and Retirement
Individual Retirement		1,361		499		1,373		539
Group Retirement		761		282		718		243
Life Insurance		1,061		52		1,013		54
Institutional Markets		277		59		599		62
Total Life and Retirement		3,460		892		3,703		898
Other Operations		150		(342)		474		(308)
Legacy Portfolio		836		145		1,084		342
AIG Consolidation and elimination		(62)		11		(64)		48
Total AIG Consolidated adjusted revenues and adjusted pre-tax income		11,828		1,216		12,735		2,041
Reconciling Items from adjusted pre-tax income to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		(77)		(77)		11		11
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(31)		-		53
Other income (expense) - net		(11)		-		(9)		-
Gain (Loss) on extinguishment of debt		-		(4)		-		1
Net realized capital losses^*		(29)		(19)		(115)		(115)
Income (loss) from divested businesses		-		8		-		(100)
Non-operating litigation reserves and settlements		1		(13)		10		6
(Unfavorable) favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		(34)		-		(14)
Net loss reserve discount benefit (charge)		-		205		-		25
Restructuring and other costs		-		(24)		-		(181)
Revenues and Pre-tax income	$	11,712	$	1,227	$	12,632	$	1,727

* Includes all net realized capital gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication.

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2018

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

4. Fair Value Measurements

Fair Value Measurements on a Recurring Basis

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

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

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

Assets and Liabilities Measured at Fair Value on a Recurring Basis

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

March 31, 2018							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^(a)	Collateral			Total
Assets:
Bonds available for sale:
U.S. government and government sponsored entities	$	-	$	2,833	$	-	$	-	$	-	$	2,833
Obligations of states, municipalities and political subdivisions		-		15,550		2,261		-		-		17,811
Non-U.S. governments		25		15,689		9		-		-		15,723
Corporate debt		-		129,468		1,871		-		-		131,339
RMBS		-		20,050		15,839		-		-		35,889
CMBS		-		13,025		584		-		-		13,609
CDO/ABS		-		8,864		7,846		-		-		16,710
Total bonds available for sale		25		205,479		28,410		-		-		233,914
Other bond securities:
U.S. government and government sponsored entities		594		2,183		-		-		-		2,777
Non-U.S. governments		-		54		-		-		-		54
Corporate debt		-		1,784		19		-		-		1,803
RMBS		-		391		1,427		-		-		1,818
CMBS		-		493		73		-		-		566
CDO/ABS		-		603		4,776		-		-		5,379
Total other bond securities		594		5,508		6,295		-		-		12,397
Other equity securities^(b)		1,716		6		3		-		-		1,725
Mortgage and other loans receivable		-		-		-		-		-		-
Other invested assets^(c)		5		1		292		-		-		298
Derivative assets:
Interest rate contracts		-		2,549		-		-		-		2,549
Foreign exchange contracts		-		792		3		-		-		795
Equity contracts		48		142		78		-		-		268
Credit contracts		-		-		2		-		-		2
Other contracts		-		-		17		-		-		17
Counterparty netting and cash collateral		-		-		-		(1,589)		(1,268)		(2,857)
Total derivative assets		48		3,483		100		(1,589)		(1,268)		774
Short-term investments		2,611		483		-		-		-		3,094
Separate account assets		85,362		5,227		-		-		-		90,589
Total	$	90,361	$	220,187	$	35,100	$	(1,589)	$	(1,268)	$	342,791
Liabilities:
Policyholder contract deposits	$	-	$	15	$	3,696	$	-	$	-	$	3,711
Derivative liabilities:
Interest rate contracts		1		2,185		17		-		-		2,203
Foreign exchange contracts		-		1,213		4		-		-		1,217
Equity contracts		-		13		-		-		-		13
Credit contracts		-		12		252		-		-		264
Other contracts		-		-		5		-		-		5
Counterparty netting and cash collateral		-		-		-		(1,589)		(980)		(2,569)
Total derivative liabilities		1		3,423		278		(1,589)		(980)		1,133
Long-term debt		-		2,820		-		-		-		2,820
Other liabilities		25		-		-		-		-		25
Total	$	26	$	6,258	$	3,974	$	(1,589)	$	(980)	$	7,689

December 31, 2017							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^(a)		Collateral		Total
Assets:
Bonds available for sale:
U.S. government and government sponsored entities	$	201	$	2,455	$	-	$	-	$	-	$	2,656
Obligations of states, municipalities and political subdivisions		-		16,240		2,404		-		-		18,644
Non-U.S. governments		20		15,631		8		-		-		15,659
Corporate debt		-		133,003		1,173		-		-		134,176
RMBS		-		21,098		16,136		-		-		37,234
CMBS		-		13,217		624		-		-		13,841
CDO/ABS		-		8,131		8,651		-		-		16,782
Total bonds available for sale		221		209,775		28,996		-		-		238,992
Other bond securities:
U.S. government and government sponsored entities		238		2,564		-		-		-		2,802
Non-U.S. governments		-		57		-		-		-		57
Corporate debt		-		1,891		18		-		-		1,909
RMBS		-		421		1,464		-		-		1,885
CMBS		-		485		74		-		-		559
CDO/ABS		-		604		4,956		-		-		5,560
Total other bond securities		238		6,022		6,512		-		-		12,772
Equity securities available for sale:
Common stock		1,061		-		-		-		-		1,061
Preferred stock		18		515		-		-		-		533
Mutual funds		110		4		-		-		-		114
Total equity securities available for sale		1,189		519		-		-		-		1,708
Other equity securities		589		-		-		-		-		589
Mortgage and other loans receivable		-		-		5		-		-		5
Other invested assets^(c)		-		1		250		-		-		251
Derivative assets:
Interest rate contracts		1		2,170		-		-		-		2,171
Foreign exchange contracts		-		827		4		-		-		831
Equity contracts		188		252		82		-		-		522
Credit contracts		-		-		1		-		-		1
Other contracts		-		-		20		-		-		20
Counterparty netting and cash collateral		-		-		-		(1,464)		(1,159)		(2,623)
Total derivative assets		189		3,249		107		(1,464)		(1,159)		922
Short-term investments		2,078		537		-		-		-		2,615
Separate account assets		87,141		5,657		-		-		-		92,798
Total	$	91,645	$	225,760	$	35,870	$	(1,464)	$	(1,159)	$	350,652
Liabilities:
Policyholder contract deposits	$	-	$	14	$	4,136	$	-	$	-	$	4,150
Derivative liabilities:
Interest rate contracts		2		2,176		22		-		-		2,200
Foreign exchange contracts		-		1,241		4		-		-		1,245
Equity contracts		2		19		-		-		-		21
Credit contracts		-		14		263		-		-		277
Other contracts		-		-		5		-		-		5
Counterparty netting and cash collateral		-		-		-		(1,464)		(1,249)		(2,713)
Total derivative liabilities		4		3,450		294		(1,464)		(1,249)		1,035
Long-term debt		-		2,888		-		-		-		2,888
Other liabilities		46		43		-		-		-		89
Total	$	50	$	6,395	$	4,430	$	(1,464)	$	(1,249)	$	8,162

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

(b) As a result of the adoption of the Recognition and Measurement of Financial Assets and Financial Liabilities standard on January 1, 2018 (Financial Instruments Recognition and Measurement Standard), equity securities are no longer classified and accounted for as available for sale securities.

(c) Excludes investments that are measured at fair value using the net asset value (NAV) per share (or its equivalent), which totaled $5.9 billion and $6.0 billion as of March 31, 2018 and December 31, 2017, respectively.

Transfers of Level 1 and Level 2 Assets and Liabilities

Our policy is to record transfers of assets and liabilities between Level 1 and Level 2 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. Assets are transferred out of Level 1 when they are no longer transacted with sufficient frequency and volume in an active market. Conversely, assets are transferred from Level 2 to Level 1 when transaction volume and frequency are indicative of an active market.

During the three-month periods ended March 31, 2018 and 2017, we transferred $16 million and $53 million, respectively, of securities issued by Non-U.S. government entities from Level 1 to Level 2, because they are no longer considered actively traded. For similar reasons, during the three-month periods ended March 31, 2018 and 2017, we transferred $191 million and $63 million, respectively, of securities issued by the U.S. government and government sponsored entities from Level 1 to Level 2. We had no material transfers from Level 2 to Level 1 during the three-month periods ended March 31, 2018 and 2017.

Changes in Level 3 Recurring Fair Value Measurements

The following tables present changes during the three-month periods ended March 31, 2018 and 2017 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realized and unrealized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at March 31, 2018 and 2017:

				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		Gains (Losses)		Other		Issuances and		Gross		Gross				to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Three Months Ended March 31, 2018
Assets:
Bonds available for sale:
Obligations of states,
municipalities and
political subdivisions	$	2,404	$	1	$	(75)	$	(69)	$	-	$	-	$	-	$	-	$	2,261	$	-
Non-U.S. governments		8		(4)		4		1		-		-		-		-		9		-
Corporate debt		1,173		(57)		10		248		565		(68)		-		-		1,871		-
RMBS		16,136		266		5		(536)		-		(32)		-		-		15,839		-
CMBS		624		6		(17)		(23)		-		(6)		-		-		584		-
CDO/ABS		8,651		8		(88)		(710)		-		(15)		-		-		7,846		-
Total bonds available for sale		28,996		220		(161)		(1,089)		565		(121)		-		-		28,410		-
Other bond securities:
Corporate debt		18		1		-		-		-		-		-		-		19		-
RMBS		1,464		39		-		(76)		-		-		-		-		1,427		51
CMBS		74		(1)		-		(1)		1		-		-		-		73		(1)
CDO/ABS		4,956		89		-		(260)		-		(9)		-		-		4,776		8
Total other bond securities		6,512		128		-		(337)		1		(9)		-		-		6,295		58
Other equity securities^(a)		-		-		-		3		-		-		-		-		3		2
Mortgage and other loans receivable		5		-		-		(5)		-		-		-		-		-		-
Other invested assets		250		23		1		18		-		-		-		-		292		30
Total	$	35,763	$	371	$	(160)	$	(1,410)	$	566	$	(130)	$	-	$	-	$	35,000	$	90
				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		(Gains) Losses		Other		Issuances and		Gross		Gross				to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	4,136	$	(506)	$	-	$	66	$	-	$	-	$	-	$	-	$	3,696	$	604
Derivative liabilities, net:
Interest rate contracts		22		(3)		-		(2)		-		-		-		-		17		3
Foreign exchange contracts		-		(10)		-		11		-		-		-		-		1		3
Equity contracts		(82)		4		-		-		-		-		-		-		(78)		(4)
Credit contracts		262		(10)		-		(2)		-		-		-		-		250		10
Other contracts		(15)		(17)		-		20		-		-		-		-		(12)		17
Total derivative liabilities, net^(b)		187		(36)		-		27		-		-		-		-		178		29
Long-term debt^(c)		-		-		-		-		-		-		-		-		-		-
Total	$	4,323	$	(542)	$	-	$	93	$	-	$	-	$	-	$	-	$	3,874	$	633
				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		Gains (Losses)		Other		Issuances and		Gross		Gross				to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Three Months Ended March 31, 2017
Assets:
Bonds available for sale:
Obligations of states,
municipalities and
political subdivisions	$	2,040	$	2	$	(4)	$	21	$	-	$	(18)	$	-	$	-	$	2,041	$	-
Non-U.S. governments		17		-		-		(1)		-		-		-		-		16		-
Corporate debt		1,133		(4)		(3)		(13)		136		(170)		-		-		1,079		-
RMBS		16,906		289		151		(858)		8		(9)		-		-		16,487		-
CMBS		2,040		5		5		(348)		-		(699)		-		-		1,003		-
CDO/ABS		7,835		6		48		(102)		-		(32)		-		-		7,755		-
Total bonds available for sale		29,971		298		197		(1,301)		144		(928)		-		-		28,381		-
Other bond securities:
Corporate debt		17		1		-		-		-		-		-		-		18		1
RMBS		1,605		55		-		(125)		-		(33)		-		-		1,502		24
CMBS		155		-		-		(17)		-		(73)		-		-		65		1
CDO/ABS		5,703		173		-		(368)		-		-		-		-		5,508		70
Total other bond securities		7,480		229		-		(510)		-		(106)		-		-		7,093		96
Equity securities available for sale:
Common stock		-		-		-		8		-		-		-		-		8		-
Total equity securities available for sale		-		-		-		8		-		-		-		-		8		-
Other equity securities		-		-		-		-		-		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		-		-		-		-		-		11		-
Other invested assets		204		(1)		(5)		(17)		-		(1)		-		-		180		-
Total	$	37,666	$	526	$	192	$	(1,820)	$	144	$	(1,035)	$	-	$	-	$	35,673	$	96
				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		(Gains) Losses		Other		Issuances and		Gross		Gross				to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,033	$	(45)	$	-	$	84	$	-	$	-	$	-	$	-	$	3,072	$	98
Derivative liabilities, net:
Interest rate contracts		38		(3)		-		(3)		-		-		-		-		32		3
Foreign exchange contracts		11		-		-		(5)		-		-		-		-		6		-
Equity contracts		(58)		(11)		-		7		-		-		-		-		(62)		5
Credit contracts		329		(15)		-		1		-		-		-		-		315		11
Other contracts		(11)		(19)		-		19		-		-		-		-		(11)		(1)
Total derivative liabilities, net^(b)		309		(48)		-		19		-		-		-		-		280		18
Long-term debt^(c)		71		12		-		(25)		-		-		-		-		58		(2)
Total	$	3,413	$	(81)	$	-	$	78	$	-	$	-	$	-	$	-	$	3,410	$	114

(a) As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, equity securities are no longer classified and accounted for as available for sale securities.

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

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 March 31, 2018
Bonds available for sale	$	282	$	(62)	$	-	$	220
Other bond securities		23		(4)		109		128
Other equity securities		-		-		-		-
Other invested assets		25		-		(2)		23
Three Months Ended March 31, 2017
Bonds available for sale	$	298	$	-	$	-	$	298
Other bond securities		75		6		148		229
Other equity securities		-		-		-		-
Other invested assets		-		(3)		2		(1)

		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	(Gains) Losses			Income		Total
Three Months Ended March 31, 2018
Policyholder contract deposits		-		(506)		-		(506)
Derivative liabilities, net		-		1		(37)		(36)
Long-term debt		-		-		-		-
Three Months Ended March 31, 2017
Policyholder contract deposits		-		(45)		-		(45)
Derivative liabilities, net		-		(7)		(41)		(48)
Long-term debt		-		-		12		12

The following table presents the gross components of purchases, sales, issuances and settlements, net, shown above, for the three-month periods ended March 31, 2018 and 2017 related to Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets:

						Issuances		Purchases, Sales,
						and		Issuances and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Three Months Ended March 31, 2018
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	15	$	-	$	(84)	$	(69)
Non-U.S. governments		2		-		(1)		1
Corporate debt		254		(3)		(3)		248
RMBS		233		(5)		(764)		(536)
CMBS		12		-		(35)		(23)
CDO/ABS		495		(851)		(354)		(710)
Total bonds available for sale		1,011		(859)		(1,241)		(1,089)
Other bond securities:
RMBS		1		(5)		(72)		(76)
CMBS		-		-		(1)		(1)
CDO/ABS		-		(4)		(256)		(260)
Total other bond securities		1		(9)		(329)		(337)
Other equity securities		3		-		-		3
Mortgage and other loans receivable		-		(5)		-		(5)
Other invested assets		22		-		(4)		18
Total assets	$	1,037	$	(873)	$	(1,574)	$	(1,410)
Liabilities:
Policyholder contract deposits	$	-	$	112	$	(46)	$	66
Derivative liabilities, net		(7)		-		34		27
Long-term debt^(b)		-		-		-		-
Total liabilities	$	(7)	$	112	$	(12)	$	93
Three Months Ended March 31, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	37	$	(5)	$	(11)	$	21
Non-U.S. governments		-		(1)		-		(1)
Corporate debt		-		-		(13)		(13)
RMBS		339		(244)		(953)		(858)
CMBS		39		(67)		(320)		(348)
CDO/ABS		13		-		(115)		(102)
Total bonds available for sale		428		(317)		(1,412)		(1,301)
Other bond securities:
RMBS		98		(167)		(56)		(125)
CMBS		-		(11)		(6)		(17)
CDO/ABS		-		-		(368)		(368)
Total other bond securities		98		(178)		(430)		(510)
Equity securities available for sale		8		-		-		8
Other equity securities		-		-		-		-
Mortgage and other loans receivable		-		-		-		-
Other invested assets		1		-		(18)		(17)
Total assets	$	535	$	(495)	$	(1,860)	$	(1,820)
Liabilities:
Policyholder contract deposits	$	-	$	70	$	14	$	84
Derivative liabilities, net		-		-		19		19
Long-term debt^(b)		-		-		(25)		(25)
Total liabilities	$	-	$	70	$	8	$	78

(a) There were no issuances during the three-month periods ended March 31, 2018 and 2017, respectively.

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

Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3 in the tables above. As a result, the unrealized gains (losses) on instruments held at March 31, 2018 and 2017 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 excludes $24 million and $8 million of net losses related to assets and liabilities transferred into Level 3 during the three-month periods ended March 31, 2018 and 2017, respectively, and includes $1 million of net gains related to assets and liabilities transferred out of Level 3 during the three-month period ended March 31, 2017.

Transfers of Level 3 Assets

During the three-month periods ended March 31, 2018 and 2017, transfers into Level 3 assets primarily included certain investments in private placement corporate debt, RMBS, CMBS 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, CMBS 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-month periods ended March 31, 2018 and 2017, 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 in municipal securities, corporate debt, RMBS, CMBS and CDO/ABS out of Level 3 assets were based on consideration of market liquidity as well as related transparency of pricing and associated observable inputs for these investments. Transfers of certain investments in private placement corporate debt and certain ABS out of Level 3 assets were primarily the result of using observable pricing information that reflects the fair value of those securities without the need for adjustment based on our own assumptions regarding the characteristics of a specific security or the current liquidity in the market.

Transfers of Level 3 Liabilities

There were no significant transfers of derivative or other liabilities into or out of Level 3 for the three-month periods ended March 31, 2018 and 2017.

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
	March 31,		Valuation		Range
(in millions)	2018		Technique	Unobservable Input^(b)	(Weighted Average)
Assets:

Obligations of states, municipalities
and political subdivisions	$	1,571	Discounted cash flow	Yield	3.82% - 4.51% (4.16%)

Corporate debt		1,638	Discounted cash flow	Yield	4.74% - 13.88% (9.31%)

RMBS^(a)		15,679	Discounted cash flow	Constant prepayment rate	3.71% - 12.82% (8.27%)
				Loss severity	40.73% - 75.96% (58.34%)
				Constant default rate	3.23% - 8.25% (5.74%)
				Yield	2.99% - 5.33% (4.16%)

CDO/ABS^(a)		5,200	Discounted cash flow	Yield	3.69% - 4.99% (4.34%)

CMBS		456	Discounted cash flow	Yield	2.82% - 6.34% (4.58%)
Liabilities:

Embedded derivatives within
Policyholder contract deposits:

Guaranteed minimum withdrawal benefits (GMWB)		1,601	Discounted cash flow	Equity volatility	6.45% - 50.55%
				Base lapse rate	0.35% - 14.00%
				Dynamic lapse multiplier	30.00% - 170.00%
				Mortality multiplier^(c)	40.00% - 153.00%
				Utilization	90.00% - 100.00%
				Equity / interest-rate correlation	20.00% - 40.00%

Index Annuities		1,517	Discounted cash flow	Lapse rate	0.50% - 40.00%
				Mortality multiplier^(c)	42.00% - 162.00%
				Option Budget	1.00% - 4.00%

Indexed Life		554	Discounted cash flow	Base lapse rate	2.00% - 19.00%
				Mortality rate	0.00% - 40.00%


		Fair Value at
		December 31,	Valuation		Range
(in millions)		2017	Technique	Unobservable Input^(b)	(Weighted Average)
Assets:

Obligations of states, municipalities
and political subdivisions	$	1,620	Discounted cash flow	Yield	3.55% - 4.32% (3.94%)

Corporate debt		1,086	Discounted cash flow	Yield	3.26% - 12.22% (7.74%)

RMBS^(a)		16,156	Discounted cash flow	Constant prepayment rate	3.97% - 13.42% (8.69%)
				Loss severity	43.15% - 77.15% (60.15%)
				Constant default rate	3.31% - 8.30% (5.80%)
				Yield	2.73% - 5.19% (3.96%)

CDO/ABS^(a)		5,254	Discounted cash flow	Yield	3.38% - 4.78% (4.08%)

CMBS		487	Discounted cash flow	Yield	2.22% - 7.77% (4.99%)
Liabilities:

Embedded derivatives within
Policyholder contract deposits:

GMWB		1,994	Discounted cash flow	Equity volatility	6.45% - 51.25%
				Base lapse rate	0.35% - 14.00%
				Dynamic lapse multiplier	30.00% - 170.00%
				Mortality multiplier^(c)	40.00% - 153.00%
				Utilization	90.00% - 100.00%
				Equity / interest-rate correlation	20.00% - 40.00%

Index Annuities		1,603	Discounted cash flow	Lapse rate	0.50% - 40.00%
				Mortality multiplier^(c)	42.00% - 162.00%
				Option Budget	1.00% - 4.00%

Indexed Life		515	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 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.
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.
Option budget estimates the expected long-term cost of options used to hedge exposures associated with equity price changes. The level of option budgets determines future costs of the options, which impacts the growth in account value and the valuation of embedded derivatives.

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.

		March 31, 2018				December 31, 2017
			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	$	1,261	$	719	$	1,243	$	706

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		238		166		210		187

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		145		133		134		73

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		109		43		113		42

Other	Includes multi-strategy, mezzanine and other strategies		492		198		428		219
Total private equity funds			2,245		1,259		2,128		1,227
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		1,074		-		1,128		-

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		1,196		-		1,233		-

Macro	Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions		1,045		-		1,011		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		170		8		266		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		204		3		231		4
Total hedge funds			3,689		11		3,869		12
Total		$	5,934	$	1,270	$	5,997	$	1,239

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 March 31, 2018, assuming average original expected lives of 10 years for the funds, 55 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, 23 percent between four and six years and 22 percent between seven and 10 years.

The hedge fund investments included above, which are carried at fair value, are generally redeemable monthly (26 percent), quarterly (40 percent), semi-annually (11 percent) and annually (23 percent), with redemption notices ranging from one day to 180 days. At March 31, 2018, investments representing approximately 55 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:

Three Months Ended March 31,	Gain (Loss)
(in millions)		2018		2017
Assets:
Bond and equity securities	$	23	$	349
Alternative investments^(a)		128		181
Liabilities:
Long-term debt^(b)		52		(15)
Total gain	$	203	$	515

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

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

We recognized gains of $3 million during the three-month period ended March 31, 2017, 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.

As a result of the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, we are required to record unrealized gains and losses attributable to the observable effect of changes in credit spreads on our liabilities for which the fair value option was elected in Other Comprehensive Income. The total unrealized gain recognized in Other Comprehensive Income for the three-month period ended March 31, 2018 was $2 million.

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

	March 31, 2018						December 31, 2017
			Outstanding						Outstanding
(in millions)	Fair Value		Principal Amount		Difference		Fair Value		Principal Amount		Difference
Assets:
Mortgage and other loans receivable	$	-	$	-	$	-	$	5	$	5	$	-
Liabilities:
Long-term debt^*	$	2,820	$	2,311	$	509	$	2,888	$	2,280	$	608

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

FAIR VALUE MEASUREMENTS ON A NON-RECURRING BASIS

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

		Assets at Fair Value							Impairment Charges
		Non-Recurring Basis							Three Months Ended March 31,
(in millions)		Level 1		Level 2		Level 3		Total		2018		2017
March 31, 2018
Other investments	$	-	$	-	$	95	$	95	$	28	$	17
Investments in life settlements		-		-		-		-		-		41
Other assets^*		-		-		-		-		-		35
Total	$	-	$	-	$	95	$	95	$	28	$	93
December 31, 2017
Other investments	$	-	$	-	$	55	$	55
Investments in life settlements		-		-		-		-
Other assets		-		-		-		-
Total	$	-	$	-	$	55	$	55

* Impairments in 2017 included $35 million related to other assets of $179 million that were reclassified to assets held for sale.

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
March 31, 2018
Assets:
Mortgage and other loans receivable	$	-	$	114	$	38,558	$	38,672	$	38,540
Other invested assets		-		764		6		770		767
Short-term investments		-		11,522		-		11,522		11,522
Cash		2,103		-		-		2,103		2,103
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		373		121,648		122,021		117,265
Other liabilities		-		3,210		-		3,210		3,210
Long-term debt		-		24,488		4,507		28,995		30,799
December 31, 2017
Assets:
Mortgage and other loans receivable	$	-	$	117	$	37,644	$	37,761	$	37,018
Other invested assets		-		590		6		596		593
Short-term investments		-		7,771		-		7,771		7,771
Cash		2,362		-		-		2,362		2,362
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		387		121,809		122,196		114,326
Other liabilities		-		4,494		-		4,494		4,494
Long-term debt		-		23,930		4,313		28,243		28,752

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

+ References + Details

INVESTMENTS

3 Months Ended

Mar. 31, 2018

INVESTMENTS

INVESTMENTS

5. Investments

Securities Available for Sale

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

										Other-Than-
		Amortized		Gross		Gross				Temporary
		Cost or		Unrealized		Unrealized		Fair		Impairments
(in millions)		Cost		Gains		Losses		Value		in AOCI^(b)
March 31, 2018
Bonds available for sale:
U.S. government and government sponsored entities	$	2,764	$	121	$	(52)	$	2,833	$	-
Obligations of states, municipalities and political subdivisions		16,943		941		(73)		17,811		-
Non-U.S. governments		15,350		570		(197)		15,723		-
Corporate debt		127,106		6,020		(1,787)		131,339		13
Mortgage-backed, asset-backed and collateralized:
RMBS		33,131		3,150		(392)		35,889		1,343
CMBS		13,558		273		(222)		13,609		29
CDO/ABS		16,500		284		(74)		16,710		26
Total mortgage-backed, asset-backed and collateralized		63,189		3,707		(688)		66,208		1,398
Total bonds available for sale^(c)		225,352		11,359		(2,797)		233,914		1,411
December 31, 2017
Bonds available for sale:
U.S. government and government sponsored entities	$	2,532	$	160	$	(36)	$	2,656	$	-
Obligations of states, municipalities and political subdivisions		17,377		1,297		(30)		18,644		-
Non-U.S. governments		15,059		717		(117)		15,659		-
Corporate debt		126,310		8,666		(800)		134,176		17
Mortgage-backed, asset-backed and collateralized:
RMBS		34,181		3,273		(220)		37,234		1,568
CMBS		13,538		408		(105)		13,841		42
CDO/ABS		16,464		370		(52)		16,782		29
Total mortgage-backed, asset-backed and collateralized		64,183		4,051		(377)		67,857		1,639
Total bonds available for sale^(c)		225,461		14,891		(1,360)		238,992		1,656
Equity securities available for sale:
Common stock		703		379		(21)		1,061		-
Preferred stock		504		29		-		533		-
Mutual funds		98		16		-		114		-
Total equity securities available for sale		1,305		424		(21)		1,708		-
Total	$	226,766	$	15,315	$	(1,381)	$	240,700	$	1,656

(b) 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.

(c) At March 31, 2018 and December 31, 2017, bonds available for sale held by us that were below investment grade or not rated totaled $30.4 billion and $31.5 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^(a):

	Less than 12 Months				12 Months or More				Total
				Gross				Gross				Gross
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in millions)		Value		Losses		Value		Losses		Value		Losses
March 31, 2018
Bonds available for sale:
U.S. government and government sponsored entities	$	1,097	$	25	$	529	$	27	$	1,626	$	52
Obligations of states, municipalities and political
subdivisions		2,010		36		599		37		2,609		73
Non-U.S. governments		5,825		127		893		70		6,718		197
Corporate debt		38,072		1,263		6,701		524		44,773		1,787
RMBS		7,716		206		3,349		186		11,065		392
CMBS		6,105		133		1,347		89		7,452		222
CDO/ABS		3,127		34		831		40		3,958		74
Total bonds available for sale	$	63,952	$	1,824	$	14,249	$	973	$	78,201	$	2,797
December 31, 2017
Bonds available for sale:
U.S. government and government sponsored entities	$	770	$	23	$	332	$	13	$	1,102	$	36
Obligations of states, municipalities and political
subdivisions		586		6		646		24		1,232		30
Non-U.S. governments		3,511		54		857		63		4,368		117
Corporate debt		15,578		453		7,291		347		22,869		800
RMBS		6,212		99		3,790		121		10,002		220
CMBS		3,408		46		1,389		59		4,797		105
CDO/ABS		1,455		24		822		28		2,277		52
Total bonds available for sale		31,520		705		15,127		655		46,647		1,360
Equity securities available for sale:
Common stock		136		21		-		-		136		21
Mutual funds		1		-		-		-		1		-
Total equity securities available for sale		137		21		-		-		137		21
Total	$	31,657	$	726	$	15,127	$	655	$	46,784	$	1,381

At March 31, 2018, we held 12,137 individual fixed maturity securities, that were in an unrealized loss position, of which 2,015 individual fixed maturity securities were in a continuous unrealized loss position for 12 months or more. We did not recognize the unrealized losses in earnings on these fixed maturity securities at March 31, 2018 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
March 31, 2018
Due in one year or less	$	8,393	$	8,524	$	1,881	$	1,872
Due after one year through five years		46,987		48,261		11,548		11,232
Due after five years through ten years		42,637		42,973		22,337		21,507
Due after ten years		64,146		67,948		22,069		21,115
Mortgage-backed, asset-backed and collateralized		63,189		66,208		23,163		22,475
Total	$	225,352	$	233,914	$	80,998	$	78,201
December 31, 2017
Due in one year or less	$	7,932	$	8,071	$	1,526	$	1,515
Due after one year through five years		47,179		49,093		7,764		7,571
Due after five years through ten years		42,617		43,944		11,559		11,143
Due after ten years		63,550		70,027		9,705		9,342
Mortgage-backed, asset-backed and collateralized		64,183		67,857		17,453		17,076
Total	$	225,461	$	238,992	$	48,007	$	46,647

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:

		2018				2017
		Gross		Gross		Gross		Gross
Three Months Ended March 31,	Realized		Realized		Realized		Realized
(in millions)		Gains		Losses		Gains		Losses
Fixed maturity securities	$	70	$	60	$	333	$	178
Equity securities		16		-		17		16
Total	$	86	$	60	$	350	$	194

For the three-month periods ended March 31, 2018 and 2017, the aggregate fair value of available for sale securities sold was $5.5 billion and $15.8 billion, respectively, which resulted in net realized capital gains of $26 million and $156 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:

		March 31, 2018				December 31, 2017
		Fair	Percent			Fair	Percent
(in millions)		Value	of Total			Value	of Total
Fixed maturity securities:
U.S. government and government sponsored entities	$	2,777	20	%	$	2,802	21	%
Non-U.S. governments		54	-			57	1
Corporate debt		1,803	13			1,909	14
Mortgage-backed, asset-backed and collateralized:
RMBS		1,818	13			1,885	14
CMBS		566	4			559	4
CDO/ABS and other collateralized^*		5,379	38			5,560	42
Total mortgage-backed, asset-backed and collateralized		7,763	55			8,004	60
Total fixed maturity securities		12,397	88			12,772	96
Equity securities		1,725	12			589	4
Total	$	14,122	100	%	$	13,361	100	%

* Includes $220 million and $251 million of U.S. government agency-backed ABS at March 31, 2018 and December 31, 2017, respectively.

Other Invested Assets

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

		March 31,		December 31,
(in millions)		2018		2017
Alternative investments^{(a) (b)}	$	11,125	$	11,308
Investment real estate^(c)		8,636		8,258
Aircraft asset investments^(d)		201		206
All other investments		1,221		1,050
Total	$	21,183	$	20,822

(a) At March 31, 2018, included hedge funds of $5.5 billion, private equity funds of $5.2 billion, and affordable housing partnerships of $483 million. At December 31, 2017, included hedge funds of $5.8 billion, private equity funds of $5.0 billion, and affordable housing partnerships of $543 million.

(b) Approximately 69 percent of our hedge fund portfolio is available for redemption in 2018, an additional 31 percent will be available between 2019 and 2027.

(c) Net of accumulated depreciation of $556 million and $515 million in March 31, 2018 and December 31, 2017, 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 March 31,
(in millions)		2018		2017
Available for sale fixed maturity securities, including short-term investments	$	2,610	$	2,667
Other fixed maturity securities		(21)		134
Equity securities^(a)		(32)		5
Interest on mortgage and other loans		450		393
Alternative investments^(b)		337		448
Real estate		31		49
Other investments		10		116
Total investment income		3,385		3,812
Investment expenses		124		126
Net investment income	$	3,261	$	3,686

(a) Upon the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, the change in fair value of all equity securities is included in Net Investment Income.

(b) 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 March 31,
(in millions)		2018		2017
Sales of fixed maturity securities	$	10	$	155
Sales of equity securities		16		1
Other-than-temporary impairments:
Severity		-		-
Change in intent		(49)		(1)
Foreign currency declines		(6)		(10)
Issuer-specific credit events		(32)		(57)
Adverse projected cash flows		-		-
Provision for loan losses		(24)		6
Foreign exchange transactions		53		159
Variable annuity embedded derivatives, net of related hedges		147		(389)
All other derivatives and hedge accounting		(225)		13
Impairments on investments in life settlements		-		(41)
Other		91		49
Net realized capital losses	$	(19)	$	(115)

Change in Unrealized Appreciation (Depreciation) of Investments

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

Three Months Ended March 31,
(in millions)		2018		2017
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	(4,969)	$	773
Equity securities^(a)		-		114
Other investments		(25)		(54)
Total increase (decrease) in unrealized appreciation (depreciation) of investments^(b)	$	(4,994)	$	833

(b) Excludes net unrealized losses attributable to businesses held for sale.

The following table summarizes the unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date*:

Three Months Ended March 31, 2018				Other Invested
(in millions)		Equities		Assets		Total
Net gains and losses recognized during the period on equity securities	$	(31)	$	192	$	161
Less: Net gains and losses recognized during the period on equity securities sold
during the period		(8)		(1)		(9)
Unrealized gains and losses recognized during the reporting period on equity
securities still held at the reporting date	$	(23)	$	193	$	170

* The table includes a gain of $72 million in Other Invested Assets and a loss of $31 million in Equities recorded during the three-month period ended March 31, 2018, as a result of the new Financial Instruments Recognition and Measurement Standard.

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 2017 Annual Report.

Credit Impairments

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

Three Months Ended March 31,
(in millions)		2018		2017
Balance, beginning of year	$	526	$	1,098
Increases due to:
Credit impairments on new securities subject to impairment losses		14		17
Additional credit impairments on previously impaired securities		17		30
Reductions due to:
Credit impaired securities fully disposed for which there was no
prior intent or requirement to sell		(51)		(11)
Accretion on securities previously impaired due to credit^*		(148)		(188)
Balance, end of period	$	358	$	946

* 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)	$	36,711
Cash flows expected to be collected^*		30,121
Recorded investment in acquired securities		20,334

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

(in millions)	March 31, 2018		December 31, 2017
Outstanding principal balance	$	14,253	$	14,718
Amortized cost		10,141		10,492
Fair value		11,977		12,293

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

Three Months Ended March 31,
(in millions)		2018		2017
Balance, beginning of period	$	7,501	$	7,498
Newly purchased PCI securities		23		88
Disposals		-		(18)
Accretion		(187)		(210)
Effect of changes in interest rate indices		206		21
Net reclassification from (to) non-accretable difference, including effects of prepayments		58		214
Balance, end of period	$	7,601	$	7,593

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)		March 31, 2018		December 31, 2017
Fixed maturity securities available for sale	$	1,767	$	2,911
Other bond securities, at fair value	$	1,381	$	1,585

At March 31, 2018 and December 31, 2017, amounts borrowed under repurchase and securities lending agreements totaled $3.2 billion and $4.5 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
March 31, 2018
Bonds available for sale:
Non-U.S. governments	$	-	$	94	$	18	$	-	$	-	$	112
Corporate debt		-		34		6		-		-		40
Other bond securities:
U.S. government and government sponsored entities		15		-		-		-		-		15
Non-U.S. governments		-		-		3		-		-		3
Corporate debt		-		93		18		-		-		111
Total	$	15	$	221	$	45	$	-	$	-	$	281

December 31, 2017
Bonds available for sale:
Non-U.S. governments	$	-	$	7	$	19	$	-	$	-	$	26
Corporate debt		-		13		35		-		-		48
Other bond securities:
U.S. government and government sponsored entities		44		-		-		-		-		44
Non-U.S. governments		-		-		11		-		-		11
Corporate debt		-		387		1,065		-		-		1,452
Total	$	44	$	407	$	1,130	$	-	$	-	$	1,581

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
March 31, 2018
Bonds available for sale:
Non-U.S. governments	$	-	$	-	$	32	$	5	$	-	$	37
Corporate debt		-		235		1,224		119		-		1,578
Other bond securities:
Non-U.S. governments		-		-		7		-		-		7
Corporate debt		-		175		995		75		-		1,245
Total	$	-	$	410	$	2,258	$	199	$	-	$	2,867

December 31, 2017
Bonds available for sale:
Non-U.S. governments	$	-	$	-	$	18	$	-	$	-	$	18
Corporate debt		-		588		2,231		-		-		2,819
Other bond securities:
Non-U.S. governments		-		-		22		-		-		22
Corporate debt		-		-		56		-		-		56
Total	$	-	$	588	$	2,327	$	-	$	-	$	2,915

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)		March 31, 2018		December 31, 2017
Securities collateral pledged to us	$	5,020	$	2,227
Amount sold or repledged by us	$	97	$	46

At March 31, 2018 and December 31, 2017, amounts loaned under reverse repurchase agreements totaled $5.0 billion and $2.2 billion, respectively.

We do not currently offset any secured financing transactions. All such transactions are collateralized and margined daily consistent with market standards and subject to enforceable master netting arrangements with rights of set off.

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 $5.2 billion and $4.9 billion at March 31, 2018 and December 31, 2017, respectively.

Other Pledges and Restrictions

Certain of our subsidiaries are members of Federal Home Loan Banks (FHLBs) and such membership requires the members to own stock in these FHLBs. We owned an aggregate of $192 million and $93 million of stock in FHLBs at March 31, 2018 and December 31, 2017, respectively. In addition, our subsidiaries have pledged securities available for sale and residential loans associated with borrowings and funding agreements from FHLBs, with a fair value of $4.5 billion and $1.6 billion, respectively, at March 31, 2018 and $2.7 billion and $471 million, respectively, at December 31, 2017.

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 $1.8 billion and $2.0 billion at March 31, 2018 and December 31, 2017, 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 $242 million and $255 million, comprised of bonds available for sale and short term investments at March 31, 2018 and December 31, 2017, respectively.

LENDING ACTIVITIES

3 Months Ended

Mar. 31, 2018

LENDING ACTIVITIES

LENDING ACTIVITIES

6. Lending Activities

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

	March 31,			December 31,
(in millions)		2018		2017
Commercial mortgages^*	$	29,699	$	28,596
Residential mortgages		5,811		5,398
Life insurance policy loans		2,203		2,295
Commercial loans, other loans and notes receivable		1,174		1,056
Total mortgage and other loans receivable		38,887		37,345
Allowance for credit losses		(347)		(322)
Mortgage and other loans receivable, net	$	38,540	$	37,023

* Commercial mortgages primarily represent loans for apartments, offices and retail properties, with exposures in New York and California representing the largest geographic concentrations (aggregating approximately 22 percent and 11 percent, respectively, at March 31, 2018, and 23 percent and 12 percent, respectively, at December 31, 2017).

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
March 31, 2018
Loan-to-Value Ratios^(b)
Less than 65%	$	17,506	$	2,121	$	349	$	19,976
65% to 75%		7,240		192		179		7,611
76% to 80%		943		-		-		943
Greater than 80%		885		211		73		1,169
Total commercial mortgages	$	26,574	$	2,524	$	601	$	29,699

December 31, 2017
Loan-to-Value Ratios^(b)
Less than 65%	$	18,000	$	1,525	$	351	$	19,876
65% to 75%		6,038		193		184		6,415
76% to 80%		569		40		-		609
Greater than 80%		1,416		206		74		1,696
Total commercial mortgages	$	26,023	$	1,964	$	609	$	28,596

(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 2.0X and 2.1X at March 31, 2018 and December 31, 2017, 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 61 percent and 57 percent at March 31, 2018, and December 31, 2017, respectively.

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 $
March 31, 2018
Credit Quality Performance
Indicator:
In good standing	775	$	8,790	$	8,633	$	5,190	$	2,573	$	2,365	$	1,994	$	29,545	99	%
Restructured^(a)	5		-		115		23		-		16		-		154	1
90 days or less delinquent	-		-		-		-		-		-		-		-	-
>90 days delinquent or in
process of foreclosure	-		-		-		-		-		-		-		-	-
Total^(b)	780	$	8,790	$	8,748	$	5,213	$	2,573	$	2,381	$	1,994	$	29,699	100	%
Allowance for credit losses:
Specific		$	-	$	3	$	20	$	-	$	1	$	-	$	24	-	%
General			79		95		34		9		16		17		250	1
Total allowance for credit losses		$	79	$	98	$	54	$	9	$	17	$	17	$	274	1	%

December 31, 2017
Credit Quality Performance
Indicator:
In good standing	778	$	8,163	$	8,585	$	5,338	$	2,023	$	2,373	$	1,960	$	28,442	99	%
Restructured^(a)	5		-		115		23		-		16		-		154	1
90 days or less delinquent	-		-		-		-		-		-		-		-	-
>90 days delinquent or in
process of foreclosure	-		-		-		-		-		-		-		-	-
Total^(b)	783	$	8,163	$	8,700	$	5,361	$	2,023	$	2,389	$	1,960	$	28,596	100	%
Allowance for credit losses:
Specific		$	-	$	3	$	1	$	-	$	1	$	-	$	5	-	%
General			72		94		37		6		15		18		242	1
Total allowance for credit losses		$	72	$	97	$	38	$	6	$	16	$	18	$	247	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 2017 Annual Report.

(b) Does not reflect allowance for credit losses.

(c) Our commercial mortgage loan portfolio is current as to payments of principal and interest, for both periods presented. 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 2017 Annual Report

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

	2018						2017
Three Months Ended March 31,		Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	247	$	75	$	322	$	194	$	103	$	297
Loans charged off		-		-		-		-		-		-
Recoveries of loans previously charged off		-		-		-		-		-		-
Net charge-offs		-		-		-		-		-		-
Provision for loan losses		27		(2)		25		13		(21)		(8)
Other		-		-		-		-		-		-
Allowance, end of period	$	274 ^*	$	73	$	347	$	207 ^*	$	82	$	289

* Of the total allowance, $23 million and $7 million relate to individually assessed credit losses on $82 million and $266 million of commercial mortgages at March 31, 2018 and 2017, respectively.

There were no loans modified in troubled debt restructurings during the three-month periods ended March 31, 2018 and March 31, 2017.

VARIABLE INTEREST ENTITIES

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

+ References + Details

VARIABLE INTEREST ENTITIES

3 Months Ended

Mar. 31, 2018

VARIABLE INTEREST ENTITIES

7. 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)		Affordable Housing Partnerships		Other		Total
March 31, 2018
Assets:
Bonds available for sale	$	-	$	8,484	$	-	$	-	$	8,484
Other bond securities		-		4,349		-		3		4,352
Mortgage and other loans receivable		-		2,759		-		-		2,759
Other invested assets		1,413		201		3,314		25		4,953
Other^(a)		308		1,492		309		84		2,193
Total assets^(b)	$	1,721	$	17,285	$	3,623	$	112	$	22,741
Liabilities:
Long-term debt	$	741	$	1,965	$	1,969	$	5	$	4,680
Other ^(c)		135		164		187		25		511
Total liabilities	$	876	$	2,129	$	2,156	$	30	$	5,191
December 31, 2017
Assets:
Bonds available for sale	$	-	$	9,632	$	-	$	-	$	9,632
Other bond securities		-		4,518		-		3		4,521
Mortgage and other loans receivable		-		2,290		-		-		2,290
Other invested assets		1,365		206		3,087		25		4,683
Other^(a)		302		1,481		350		85		2,218
Total assets^(b)	$	1,667	$	18,127	$	3,437	$	113	$	23,344
Liabilities:
Long-term debt	$	680	$	1,624	$	1,825	$	5	$	4,134
Other^(c)		144		244		181		26		595
Total liabilities	$	824	$	1,868	$	2,006	$	31	$	4,729

(a) Comprised primarily of Short-term investments and Other assets at March 31, 2018 and December 31, 2017.

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

(d) At March 31, 2018 and December 31, 2017, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $133 million and $86 million, respectively.

(e) At March 31, 2018 and December 31, 2017, $16.7 billion and $17.6 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
March 31, 2018
Real estate and investment entities^(a)	$	371,105	$	9,054	$	1,988		$	11,042
Affordable housing partnerships		4,146		669		-			669
Other		2,908		219		1,203	^(c)		1,422
Total	$	378,159	$	9,942	$	3,191		$	13,133
December 31, 2017
Real estate and investment entities^(a)	$	380,030	$	9,253	$	2,043		$	11,296
Affordable housing partnerships		4,468		725		-			725
Other		2,703		254		1,205	^(c)		1,459
Total	$	387,201	$	10,232	$	3,248		$	13,480

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

(b) At March 31, 2018 and December 31, 2017, $9.6 billion and $9.8 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 2017 Annual Report.

DERIVATIVES AND HEDGE ACCOUNTING

3 Months Ended

Mar. 31, 2018

DERIVATIVES AND HEDGE ACCOUNTING

DERIVATIVES AND HEDGE ACCOUNTING

8. Derivatives and Hedge Accounting

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

For a discussion of our accounting policies and procedures regarding derivatives and hedge accounting see Note 11 to the Consolidated Financial Statements in the 2017 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:

	March 31, 2018								December 31, 2017
	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	$	10	$	-	$	866	$	21	$	-	$	-	$	838	$	15
Foreign exchange contracts		3,236		122		4,511		350		2,823		173		4,783		350
Equity contracts		-		-		-		-		-		-		159		19
Derivatives not designated
as hedging instruments:^(a)
Interest rate contracts		42,688		2,549		26,505		2,182		37,751		2,171		26,461		2,185
Foreign exchange contracts		8,471		673		11,543		867		6,305		658		11,093		895
Equity contracts		15,465		268		4,261		13		19,975		522		1,130		2
Credit contracts^(b)		9		2		1,412		264		4		1		1,365		277
Other contracts^(c)		38,518		17		59		5		39,829		20		59		5
Total derivatives, gross	$	108,397	$	3,631	$	49,157	$	3,702	$	106,687	$	3,545	$	45,888	$	3,748
Counterparty netting^(d)				(1,589)				(1,589)				(1,464)				(1,464)
Cash collateral^(e)				(1,268)				(980)				(1,159)				(1,249)
Total derivatives on condensed
consolidated balance sheets^(f)			$	774			$	1,133			$	922			$	1,035

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

(b) As of March 31, 2018 and December 31, 2017, included CDSs on super senior multi-sector CDOs with a net notional amount of $661 million and $685 million (fair value liability of $245 million and $254 million), respectively. The expected weighted average maturity as of March 31, 2018 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 March 31, 2018 and December 31, 2017, 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 March 31, 2018 and December 31, 2017. Fair value of liabilities related to bifurcated Embedded derivatives was $3.7 billion and $4.1 billion, respectively, at March 31, 2018 and December 31, 2017. 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 $2.7 billion and $2.9 billion at March 31, 2018 and December 31, 2017, 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 $1.4 billion and $1.3 billion at March 31, 2018 and December 31, 2017, 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-month periods ended March 31, 2018 and 2017, we recognized losses of $120 million and $42 million, respectively, included in Change in foreign currency translation adjustment in Other comprehensive income related to the net investment hedge relationships.

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

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

	Gains/(Losses) Recognized in Earnings for:				Including Gains/(Losses) Attributable to:
	Hedging		Hedged		Hedge		Excluded
(in millions)	Derivatives^(a)		Items		Ineffectiveness		Components		Other^(b)
Three Months Ended March 31, 2018
Interest rate contracts:
Realized capital gains/(losses)	$	(8)	$	9	$	1	$	-	$	-
Foreign exchange contracts:
Realized capital gains/(losses)		(41)		8		-		(33)		-
Other income		-		-		-		-		-
Equity contracts:
Realized capital gains/(losses)		-		-		-		-		-
Three Months Ended March 31, 2017
Interest rate contracts:
Realized capital gains/(losses)	$	(1)	$	1	$	-	$	-	$	-
Foreign exchange contracts:
Realized capital gains/(losses)		52		(42)		-		10		-
Other income		-		1		-		-		1
Equity contracts
Realized capital gains/(losses)		(2)		-		-		(2)		-

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

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

Derivatives Not Designated as Hedging Instruments

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

	Gains (Losses)
Three Months Ended March 31,	Recognized in Earnings
(in millions)		2018		2017
By Derivative Type:
Interest rate contracts	$	(398)	$	(152)
Foreign exchange contracts		(139)		(46)
Equity contracts		(73)		(314)
Credit contracts		11		15
Other contracts		17		18
Embedded derivatives		591		146
Total	$	9	$	(333)
By Classification:
Policy fees	$	17	$	20
Net investment income		(4)		(2)
Net realized capital losses		(13)		(384)
Other income		12		33
Policyholder benefits and claims incurred		(3)		-
Total	$	9	$	(333)

Credit Risk-Related Contingent Features

We estimate that at March 31, 2018, 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 $81 million. The aggregate fair value of our derivatives that were in a net liability position and that contain such credit risk-related contingencies which can be triggered below our long-term senior debt ratings of BBB+ or Baa1 was approximately $521 million and $572 million at March 31, 2018 and December 31, 2017, respectively. The aggregate fair value of assets posted as collateral under these contracts at March 31, 2018 and December 31, 2017, was approximately $557 million and $676 million, respectively.

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 $4.4 billion at March 31, 2018 and December 31, 2017, respectively. These securities have par amounts of $8.9 billion and $9.1 billion at March 31, 2018 and December 31, 2017, respectively, and have remaining stated maturity dates that extend to 2052.

INSURANCE LIABILITIES

3 Months Ended

Mar. 31, 2018

Insurance Liabilites

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

9. 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 $12.3 billion and $12.6 billion at March 31, 2018 and December 31, 2017, 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 both March 31, 2018 and December 31, 2017, we held collateral of approximately $9.5 billion 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
	March 31,
(in millions)		2018		2017
Liability for unpaid loss and loss adjustment expenses, beginning of period	$	78,393	$	77,077
Reinsurance recoverable		(26,708)		(15,532)
Net Liability for unpaid loss and loss adjustment expenses, beginning of period		51,685		61,545
Losses and loss adjustment expenses incurred:
Current year		4,698		4,300
Prior years, excluding discount and amortization of deferred gain		(40)		63
Prior years, discount charge (benefit)		(205)		(25)
Prior years, amortization of deferred gain on retroactive reinsurance		(39)		(38)
Total losses and loss adjustment expenses incurred		4,414		4,300
Losses and loss adjustment expenses paid:
Current year		(610)		(571)
Prior years		(4,779)		(4,753)
Total losses and loss adjustment expenses paid		(5,389)		(5,324)
Other changes:
Foreign exchange effect		274		(105)
Retroactive reinsurance adjustment (net of discount)^(a)		(97)		(11,199)
Reclassified to liabilities held for sale^(b)		-		(87)
Total other changes		177		(11,391)
Liability for unpaid loss and loss adjustment expenses, end of period:
Net liability for unpaid losses and loss adjustment expenses		50,887		49,130
Reinsurance recoverable		27,211		26,920
Total	$	78,098	$	76,050

(a) Includes discount on retroactive reinsurance in the amount of $128 million and $1.7 billion for the three-month periods ended March 31, 2018 and 2017, respectively.

(b) Represents change in loss reserves included in our sale of certain of our insurance operations to Fairfax Financial Holdings Limited (Fairfax) for the three-month period ended March 31, 2017. Upon consummation of the sale, we retained 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. The total paid claims subject to the agreement as of March 31, 2018 were below the attachment point.

Discounting of Loss Reserves

At March 31, 2018, the loss reserves reflect a net loss reserve discount of $1.9 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. For the Pennsylvania companies, the statute specifies 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.

The discount consists of $622 million of tabular discount and $1.3 billion of non-tabular discount for workers’ compensation. During the three-month periods ended March 31, 2018 and 2017, the benefit/(charge) from changes in discount of $205 million and $25 million, respectively, were recorded as part of the policyholder benefits and losses incurred in the Consolidated Statement of Income.

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

	March 31, 2018						December 31, 2017
	North		Legacy Portfolio				North		Legacy Portfolio
	America		- General				America		- General
	Commercial		Insurance run-off				Commercial		Insurance run-off
(in millions)	Insurance		Insurance Lines			Total	Insurance		Insurance Lines			Total
U.S. workers' compensation	$	2,652	$	936	$	3,588	$	2,465	$	918	$	3,383
Retroactive reinsurance		(1,667)		-		(1,667)		(1,539)		-		(1,539)
Total reserve discount^*	$	985	$	936	$	1,921	$	926	$	918	$	1,844

* Excludes $177 million and $173 million of discount related to certain long tail liabilities in the United Kingdom at March 31, 2018 and December 31, 2017, respectively.

The following tables presents the net loss reserve discount benefit (charge):

Three Months Ended March 31,	2018						2017
	North		Legacy Portfolio				North		Legacy Portfolio
	America		- General				America		- General
	Commercial		Insurance run-off				Commercial		Insurance run-off
(in millions)	Insurance		Insurance Lines			Total	Insurance		Insurance Lines			Total
Current accident year	$	19	$	-	$	19	$	32	$	-	$	32
Accretion and other adjustments
to prior year discount		45		(18)		27		(48)		(16)		(64)
Effect of interest rate changes		123		36		159		39		18		57
Net reserve discount
benefit (charge)		187		18		205		23		2		25
Change in discount on loss reserves
ceded under retroactive reinsurance		(128)		-		(128)		(1,655)		-		(1,655)
Net change in total reserve
discount^(a)	$	59	$	18	$	77	$	(1,632)	$	2	$	(1,630)

(a) Excludes $(5) million and $(1) million of discount related to certain long tail liabilities in the United Kingdom for the three-month periods ended March 31, 2018 and 2017, respectively.

During the first quarters of 2018 and 2017, effective interest rates increased due to an increase in the forward yield curve component of the discount rates reflecting an incline in U.S. Treasury rates along with the changes in payout pattern assumptions. This resulted in an increase in the loss reserve discount by $159 million in first quarter 2018 and $57 million in first quarter 2017.

CONTINGENCIES, COMMITMENTS AND GUARANTEES	3 Months Ended
CONTINGENCIES, COMMITMENTS AND GUARANTEES	Mar. 31, 2018
CONTINGENCIES, COMMITMENTS AND GUARANTEES
CONTINGENCIES, COMMITMENTS AND GUARANTEES	10. Contingencies, Commitments and Guarantees In the normal course of business, various contingent liabilities and commitments are entered into by AIG and our subsidiaries. In addition, AIG Parent guarantees various obligations of certain subsidiaries. Although AIG cannot currently quantify its ultimate liability for unresolved litigation and investigation matters, including those referred to below, it is possible that such liability could have a material adverse effect on AIG’s consolidated financial condition or its consolidated results of operations or consolidated cash flows for an individual reporting period. Legal Contingencies Overview. In the normal course of business, AIG and our subsidiaries are, like others in the insurance and financial services industries in general, subject to regulatory and government investigations and actions, and litigation and other forms of dispute resolution in a large number of proceedings pending in various domestic and foreign jurisdictions. Certain of these matters involve potentially significant risk of loss due to potential for significant jury awards and settlements, punitive damages or other penalties. Many of these matters are also highly complex and seek recovery on behalf of a class or similarly large number of plaintiffs. It is therefore inherently difficult to predict the size or scope of potential future losses arising from these matters. In our insurance and reinsurance operations, litigation and arbitration concerning the scope of coverage under insurance and reinsurance contracts, and litigation and arbitration in which our subsidiaries defend or indemnify their insureds under insurance contracts, are generally considered in the establishment of our loss reserves. Separate and apart from the foregoing matters involving insurance and reinsurance coverage, AIG, our subsidiaries and their respective officers and directors are subject to a variety of additional types of legal proceedings brought by holders of AIG securities, customers, employees and others, alleging, among other things, breach of contractual or fiduciary duties, bad faith and violations of federal and state statutes and regulations. With respect to these other categories of matters not arising out of claims for insurance or reinsurance coverage, we establish reserves for loss contingencies when it is probable that a loss will be incurred and the amount of the loss can be reasonably estimated. In many instances, we are unable to determine whether a loss is probable or to reasonably estimate the amount of such a loss and, therefore, the potential future losses arising from legal proceedings may exceed the amount of liabilities that we have recorded in our financial statements covering these matters. While such potential future charges could be material, based on information currently known to management, management does not believe, other than may be discussed below, that any such charges are likely to have a material adverse effect on our financial position or results of operation. Additionally, from time to time, various regulatory and governmental agencies review the transactions and practices of AIG and our subsidiaries in connection with industry-wide and other inquiries into, among other matters, the 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 such requests. 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. On March 26, 2018, the Supreme Court denied SICO’s petition and the SICO Treasury Action has now concluded. Tax Litigation We are party to pending tax litigation before the Southern District of New York. For additional information see Note 14 to the Condensed Consolidated Financial Statements. Other Commitments In the normal course of business, we enter into commitments to invest in limited partnerships, private equity funds and hedge funds and to purchase and develop real estate in the U.S. and abroad. These commitments totaled $2.9 billion at March 31, 2018. 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 AIG Financial Products Corp. and related subsidiaries (collectively AIGFP) and of AIG Markets arising from transactions entered into by AIG Markets. In connection with AIGFP’s business activities, AIGFP has issued, in a limited number of transactions, standby letters of credit or similar facilities to equity investors of structured leasing transactions in an amount equal to the termination value owing to the equity investor by the lessee in the event of a lessee default (the equity termination value). The total amount outstanding at March 31, 2018 was $85 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 7 to the Condensed Consolidated Financial Statements. For additional disclosures about derivatives see Note 8 to the Condensed Consolidated Financial Statements. For additional disclosures about guarantees of outstanding debt see Note 15 to the Condensed Consolidated Financial Statements

EQUITY

3 Months Ended

Mar. 31, 2018

EQUITY

EQUITY

11. Equity

Shares Outstanding

The following table presents a rollforward of outstanding shares:

Three Months Ended March 31, 2018	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Shares, beginning of year	1,906,671,492	(1,007,626,835)	899,044,657
Shares issued	-	4,021,554	4,021,554
Shares repurchased	-	(5,384,703)	(5,384,703)
Shares, end of period	1,906,671,492	(1,008,989,984)	897,681,508

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 on 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
March 15, 2018	March 29, 2018	0.32
March 15, 2017	March 29, 2017	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 2017 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:

Three Months Ended March 31,
(in millions)		2018		2017
Aggregate repurchases of common stock	$	298	$	3,585
Total number of common shares repurchased		5		56
Aggregate repurchases of warrants	$	2	$	-
Total number of warrants repurchased^*		-		-

* For the three-month period ended March 31, 2018, we repurchased 97,553 warrants to purchase shares of AIG Common Stock.

Our Board of Directors has authorized the repurchase of shares of AIG Common Stock and warrants to purchase 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 March 31, 2018, approximately $2.0 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								Fair Value of
		(Depreciation) of Fixed		Unrealized						Liabilities Under
		Maturity Securities on		Appreciation		Foreign		Retirement		Fair Value Option
		Which Other-Than-		(Depreciation)		Currency		Plan		Attributable to
		Temporary Credit		of All Other		Translation		Liabilities		Changes in
(in millions)		Impairments Were Taken		Investments		Adjustments		Adjustment		Own Credit Risk		Total
Balance, December 31, 2017, net of tax	$	793	$	7,693	$	(2,090)	$	(931)	$	-	$	5,465
Cumulative effect of change in
accounting principles		169		(285)		(284)		(183)		7		(576)
Change in unrealized depreciation of investments		(240)		(4,754)		-		-		-		(4,994)
Change in deferred policy acquisition costs
adjustment and other		30		634		-		-		-		664
Change in future policy benefits		-		741		-		-		-		741
Change in foreign currency translation adjustments		-		-		172		-		-		172
Change in net actuarial loss		-		-		-		16		-		16
Change in prior service credit		-		-		-		(4)		-		(4)
Change in deferred tax asset (liability)		60		671		(14)		17		-		734
Change in fair value of liabilities under fair value
option attributable to changes in own credit risk		-		-		-		-		2		2
Total other comprehensive income (loss)		(150)		(2,708)		158		29		2		(2,669)
Noncontrolling interests		-		-		-		-		-		-
Balance, March 31, 2018, net of tax	$	812	$	4,700	$	(2,216)	$	(1,085)	$	9	$	2,220

Balance, December 31, 2016, net of tax	$	426	$	6,405	$	(2,629)	$	(972)	$	-	$	3,230
Change in unrealized appreciation of investments		143		690		-		-		-		833
Change in deferred policy acquisition costs
adjustment and other^*		32		38		-		-		-		70
Change in future policy benefits		-		(86)		-		-		-		(86)
Change in foreign currency translation adjustments		-		-		(304)		-		-		(304)
Change in net actuarial loss		-		-		-		25		-		25
Change in prior service cost		-		-		-		3		-		3
Change in deferred tax asset (liability)		(61)		53		28		(10)		-		10
Total other comprehensive income (loss)		114		695		(276)		18		-		551
Noncontrolling interests		-		-		-		-		-		-
Balance, March 31, 2017, net of tax	$	540	$	7,100	$	(2,905)	$	(954)	$	-	$	3,781

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

The following table presents the other comprehensive income reclassification adjustments for the three-month periods ended March 31, 2018 and 2017, respectively:

		Unrealized Appreciation
		(Depreciation) of Fixed								Fair Value of
		Maturity Investments		Unrealized						Liabilities Under
		on Which Other-Than-		Appreciation		Foreign		Retirement		Fair Value Option
		Temporary Credit		(Depreciation)		Currency		Plan		Attributable to
		Impairments Were		of All Other		Translation		Liabilities		Changes in
(in millions)		Recognized		Investments		Adjustments		Adjustment		Own Credit Risk		Total
March 31, 2018
Unrealized change arising during period	$	(208)	$	(3,386)	$	172	$	3	$	2	$	(3,417)
Less: Reclassification adjustments
included in net income		2		(7)		-		(9)		-		(14)
Total other comprehensive income (loss),
before income tax expense (benefit)		(210)		(3,379)		172		12		2		(3,403)
Less: Income tax expense (benefit)		(60)		(671)		14		(17)		-		(734)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(150)	$	(2,708)	$	158	$	29	$	2	$	(2,669)

March 31, 2017
Unrealized change arising during period	$	190	$	835	$	(304)	$	18	$	-	$	739
Less: Reclassification adjustments
included in net income		15		193		-		(10)		-		198
Total other comprehensive income (loss),
before income tax expense (benefit)		175		642		(304)		28		-		541
Less: Income tax expense (benefit)		61		(53)		(28)		10		-		(10)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	114	$	695	$	(276)	$	18	$	-	$	551

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

	Amount Reclassified
	from Accumulated Other
	Comprehensive Income
	Three Months Ended March 31,					Affected Line Item in the
(in millions)			2018		2017	Condensed Consolidated Statements of Income
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken

Investments		$	2	$	15	Other realized capital gains
Total			2		15
Unrealized appreciation (depreciation) of
all other investments
Investments			24		140	Other realized capital gains
Deferred acquisition costs adjustment			(31)		53	Amortization of deferred policy acquisition costs
Future policy benefits			-		-	Policyholder benefits and losses incurred
Total			(7)		193
Change in retirement plan liabilities adjustment
Prior-service credit			-		-	*
Actuarial losses			(9)		(10)	*
Total			(9)		(10)
Total reclassifications for the period		$	(14)	$	198

* These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 13 to the Condensed Consolidated Financial Statements.

EARNINGS PER SHARE (EPS)

3 Months Ended

Mar. 31, 2018

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)

12. Earnings Per Share (EPS)

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

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

Three Months Ended March 31,
(dollars in millions, except per share data)		2018		2017
Numerator for EPS:
Income from continuing operations	$	950	$	1,211
Less: Net income from continuing operations attributable to noncontrolling interests		11		26
Income attributable to AIG common shareholders from continuing operations		939		1,185
Income (loss) from discontinued operations, net of income tax expense		(1)		-
Net income attributable to AIG common shareholders	$	938	$	1,185
Denominator for EPS:
Weighted average shares outstanding — basic		907,951,597		980,777,243
Dilutive shares		17,314,980		24,537,787
Weighted average shares outstanding — diluted^(a)		925,266,577		1,005,315,030
Income per common share attributable to AIG:
Basic:
Income from continuing operations	$	1.03	$	1.21
Income from discontinued operations	$	-	$	-
Net income attributable to AIG	$	1.03	$	1.21
Diluted:
Income from continuing operations	$	1.01	$	1.18
Income (loss) from discontinued operations	$	-	$	-
Net income attributable to AIG	$	1.01	$	1.18

(a) Dilutive shares included our share-based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011. The number of shares excluded from diluted shares outstanding was 0.7 million and 1.8 million for the three-month periods ended March 31, 2018 and 2017, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

EMPLOYEE BENEFITS

3 Months Ended

Mar. 31, 2018

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS

13. 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 March 31, 2018
Components of net periodic benefit cost:
Service cost	$	2	$	6	$	8	$	-	$	-	$	-
Interest cost		41		4		45		2		-		2
Expected return on assets		(71)		(7)		(78)		-		-		-
Amortization of prior service cost		-		1		1		-		-		-
Amortization of net loss		7		2		9		-		-		-
Net periodic benefit cost (credit)	$	(21)	$	6	$	(15)	$	2	$	-	$	2
Three Months Ended March 31, 2017
Components of net periodic benefit cost:
Service cost	$	6	$	8	$	14	$	-	$	1	$	1
Interest cost		43		4		47		2		1		3
Expected return on assets		(64)		(6)		(70)		-		-		-
Amortization of prior service cost		-		-		-		-		-		-
Amortization of net loss		7		3		10		-		-		-
Net periodic benefit cost (credit)	$	(8)	$	9	$	1	$	2	$	2	$	4

For the three-month period ended March 31, 2018, we did not make any contributions to the U.S. AIG Retirement Plan.

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2018
INCOME TAXES
INCOME TAXES	14. Income Taxes U.S. Tax Reform Overview On December 22, 2017, the U.S. enacted Public Law 115-97, known informally as the Tax Cuts and Jobs Act (the Tax Act). The Tax Act reduced the statutory rate of U.S. federal corporate income tax to 21 percent and enacted numerous other changes impacting AIG and the insurance industry. During December 2017, the SEC staff issued Staff Accounting Bulletin 118 (SAB 118), which provided guidance on accounting for the tax effects of the Tax Act. SAB 118 addressed situations where accounting for certain income tax effects of the Tax Act under ASC 740 may be incomplete upon issuance of an entity’s financial statements and provides a one-year measurement period from the enactment date to complete the accounting under ASC 740. In accordance with SAB 118, a company was required to reflect the following: Income tax effects of those aspects of the Tax Act for which accounting under ASC 740 is complete Provisional estimate of income tax effects of the Tax Act to the extent accounting is incomplete but a reasonable estimate is determinable If a provisional estimate cannot be determined, ASC 740 should still be applied on the basis of tax law provisions that were in effect immediately before the enactment of the Tax Act. At December 31, 2017, we originally recorded a provisional estimate of income tax effects of the Tax Act of $6.7 billion, including a tax charge of $6.7 billion attributable to the reduction in the U.S. corporate income tax rate and tax benefit of $38 million related to the deemed repatriation tax. During the period ended March 31, 2018, we have not recorded any material adjustments to these provisional amounts. We continue to refine our analysis and calculations, which could impact the provisional estimates previously recorded. Accordingly, as of March 31, 2018, we have not fully completed our accounting for the tax effects of the Tax Act. The Tax Act includes provisions for Global Intangible Low-Taxed Income (GILTI) under which taxes on foreign income are imposed on the excess of a deemed return on tangible assets of certain foreign subsidiaries and for Base Erosion and Anti-Abuse Tax (BEAT) under which taxes are imposed on certain base eroding payments to affiliated foreign companies. Consistent with accounting guidance, we treat BEAT as a period tax charge in the period the tax is incurred and have made an accounting policy election to treat GILTI taxes in a similar manner. Tax effects for which a reasonable estimate can be determined Deemed Repatriation Tax The Tax Act requires companies to pay a one-time transition tax, net of tax credits related to applicable foreign taxes paid, on previously untaxed current and accumulated earnings and profits (E&P) of certain of our foreign subsidiaries. In the determination of the deemed repatriation tax, we reviewed estimated post-1986 E&P of certain material relevant foreign subsidiaries, and any related non-U.S. income tax paid on such earnings. We originally recorded a provisional estimated tax benefit of $38 million at December 31, 2017. While the IRS has issued some guidance on the calculation of the deemed repatriation tax, there are still certain aspects of the calculation that require further clarification. We are continuing to gather additional information to more precisely compute the amount of deemed repatriation tax. As we continue to refine our analysis, we will refine our calculations of the one-time transition tax, which could impact the provisional estimate previously recorded. Other Provisions The Tax Act modified computations of insurance reserves for both life and general insurance companies. For life insurance companies, tax reserves are now computed with reference to NAIC reserves. For general insurance companies, the Tax Act extends the discount period for certain long-tail lines of business from 10 years to 24 years and increases the discount rate, replacing the applicable federal rate for a higher-yield corporate bond rate, and eliminates the election allowing companies to use their historical loss payment patterns for loss reserve discounting. Adjustments related to the differences in insurance reserves balances computed under the old tax law versus the Tax Act have to be taken into income over eight years by both life and general insurance companies. At December 31, 2017, we recorded provisional estimates with respect to such items. As of March 31, 2018, these estimates remain provisional. Provisions Impacting Projections of Taxable Income and Valuation Allowance Considerations Certain provisions of the Tax Act impact our projections of future taxable income used in analyzing realizability of our U.S. tax attribute deferred tax asset. As discussed above, there are specific insurance industry provisions, including changes in computations of insurance reserves, amortization of specified policy acquisition expenses, and treatment of separate account dividends received deduction. Provisional estimates have been included in our future taxable income projections for these insurance industry specific provisions to reflect application of the new tax law. Because we have made provisional estimates related to the impact of certain aspects of the Tax Act on our future taxable income, corresponding determination of the need for a valuation allowance is also provisional. Generally, the Tax Act provisions result in an increase in our taxable income and, thus, accelerate utilization of our tax attribute deferred tax asset. Accordingly, we do not currently anticipate that our reliance on provisional estimates would have a material impact on our determination of the realizability of our deferred tax assets. In all cases, we will continue to refine our calculations as additional analysis is completed. Our estimates may also be impacted as additional guidance from taxing authorities is issued. Tax effects for which no estimate can be determined Our accounting for the following elements of the Tax Act is incomplete and we continued accounting for them in accordance with ASC 740 on the basis of the tax laws in effect before enactment of the Tax Act. The Tax Act may affect the results in certain investments and partnerships in which we are a non-controlling interest owner. The information needed to determine a provisional estimate is not currently available (such as for interest deduction limitations in those entities and the changed definition of a U.S. Shareholder). Accordingly, no provisional estimates were recorded. Due to minimal formal guidance issued from state and local jurisdictions, provisional estimates have not been recorded for the impact of any state and local corporate income tax implications of the Tax Act. Guidance from state and local jurisdictions is expected during 2018 and the impact, if any, will be recorded when the related guidance is issued. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued an accounting standard that allows the optional reclassification of stranded tax effects within accumulated other comprehensive income (AOCI) that arise due to the enactment of the Tax Act to retained earnings. We elected to early adopt the standard for the period ended March 31, 2018. As a result of adopting this standard, we reclassified $248 million from AOCI to retained earnings. The amount reclassified includes stranded effects related to the change in the U.S. federal corporate income tax rate on the gross temporary differences and related valuation allowances. The effect of the Tax Act on gross temporary differences related to AOCI is provisional. As we finalize the accounting for tax effects of the Tax Act on these items, additional reclassification adjustments may be recorded in future periods. We use an item-by-item approach to release the stranded or disproportionate income tax effects in AOCI related to our available-for-sale securities. Under this approach, a portion of the disproportionate tax effects is assigned to each individual security lot at the date the amount becomes lodged. When the individual securities are sold, mature, or are otherwise impaired on an other-than-temporary basis, the assigned portion of the disproportionate tax effect is reclassified from AOCI to income from continuing operations. 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, and are recorded in the period in which the change occurs. While certain impacts of the Tax Act are included in our annual effective tax rate, we continue to refine our calculations as additional information becomes available, which may result in changes to the estimated annual effective tax rate. Interim Tax Expense (Benefit) For the three-month period ended March 31, 2018, the effective tax rate on income from continuing operations was 22.6 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax charges related to income in our foreign operations taxed at statutory tax rates higher than 21 percent, tax on GILTI earned by certain foreign subsidiaries, valuation allowance activity related to certain foreign subsidiaries and non-deductible transfer pricing charges, partially offset by tax benefits associated with 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. For the three-month period ended March 31, 2017, the effective tax rate on income from continuing operations was 29.9 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits associated with tax exempt 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 the disposition of subsidiaries and non-deductible transfer pricing charges. As a result of the Tax Act, the majority of accumulated foreign earnings that were previously untaxed are subject to a one-time deemed repatriation tax. Going forward, certain foreign earnings of our foreign affiliates will be exempt from U.S. tax upon repatriation. Notwithstanding the changes, U.S. tax on foreign exchange gain or loss and certain non-U.S. withholding taxes will continue to be applicable upon future repatriations of foreign earnings. For the period ended March 31, 2018, we still consider our foreign earnings with respect to certain operations in Canada, South Africa, the Far East, Latin America, Bermuda as well as the European, Asia Pacific and Middle East regions to be indefinitely reinvested. These earnings relate to ongoing operations and have been reinvested in active business operations. Deferred taxes, if necessary, have been provided on earnings of non-U.S. affiliates whose earnings are not indefinitely reinvested. 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 our 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 March 31, 2018, 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-month period ended March 31, 2018, recent changes in market conditions, including rising interest rates, impacted the unrealized tax gains and losses in the U.S. Life Insurance Companies’ available for sale securities portfolio, resulting in a deferred tax asset related to net unrealized tax capital losses. The deferred tax asset relates to the unrealized losses for which the carryforward period has not yet begun, and as such, when assessing its recoverability, we consider our ability and intent to hold the underlying securities to recovery. As of March 31, 2018, based on all available evidence, we concluded no valuation allowance is necessary in the U.S. Life Insurance Companies’ available for sale securities portfolio. For the three-month period ended March 31, 2018, recent changes in market conditions, including rising interest rates, impacted the unrealized tax gains and losses in the U.S. Non-Life Companies’ available for sale securities portfolio, resulting in a decrease to the deferred tax liability related to net unrealized tax capital gains. As of March 31, 2018, 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-month period ended March 31, 2018, we recognized a net increase of $30 million in our deferred tax asset valuation allowance associated with certain foreign jurisdictions, primarily attributable to current year activity. 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. In January 2018, the parties reached non-binding agreements in principle on issues presented in the dispute and are currently reviewing the computations reflecting the settlement terms. The resolution is not final and is subject to various reviews. The litigation has been stayed pending the outcome of the review process. We can provide no assurance regarding the outcome of any such litigation or whether binding compromised settlements with the parties will ultimately be reached. We currently believe that we have adequate reserves for the potential liabilities that may result from these matters. Accounting for Uncertainty in Income Taxes At both March 31, 2018 and December 31, 2017, our unrecognized tax benefits, excluding interest and penalties were $4.7 billion. At March 31, 2018 and December 31, 2017, 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 $52 million and $28 million, respectively. Accordingly, at both March 31, 2018 and December 31, 2017, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $4.7 billion. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At March 31, 2018 and December 31, 2017, we had accrued liabilities of $2.1 billion and $2.0 billion, respectively, for the payment of interest (net of the federal benefit) and penalties. For the three-month periods ended March 31, 2018 and 2017, we accrued expense (benefit) of $54 million and $17 million, respectively, for the payment of interest and penalties. We believe it is reasonably possible that our unrecognized tax benefits could decrease within the next 12 months by as much as $3.9 billion, principally as a result of potential resolutions or settlements of prior years’ tax items. The prior years’ tax items include unrecognized tax benefits related to the deductibility of certain expenses and matters related to cross border financing transactions.

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

3 Months Ended

Mar. 31, 2018

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

15. Information Provided in Connection with Outstanding Debt

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

Condensed Consolidating Balance Sheets

		American
		International					Reclassifications
		Group, Inc.				Other		and	Consolidated
(in millions)	(As Guarantor)			AIGLH		Subsidiaries		Eliminations		AIG
March 31, 2018
Assets:
Short-term investments^(a)	$	6,031	$	-	$	11,764	$	(3,179)	$	14,616
Other investments^(b)		4,814		-		302,945		-		307,759
Total investments		10,845		-		314,709		(3,179)		322,375
Cash		4		5		2,094		-		2,103
Loans to subsidiaries^(c)		34,747		-		579		(35,326)		-
Investment in consolidated subsidiaries^(c)		37,224		28,741		-		(65,965)		-
Other assets, including deferred income taxes^(d)		15,932		166		160,755		(2,188)		174,665
Total assets	$	98,752	$	28,912	$	478,137	$	(106,658)	$	499,143
Liabilities:
Insurance liabilities	$	-	$	-	$	284,657	$	-	$	284,657
Long-term debt		23,038		642		9,939		-		33,619
Other liabilities, including intercompany balances^(b)		12,343		133		110,443		(5,409)		117,510
Loans from subsidiaries^(c)		579		-		34,749		(35,328)		-
Total liabilities		35,960		775		439,788		(40,737)		435,786
Total AIG shareholders’ equity		62,792		28,137		37,784		(65,921)		62,792
Non-redeemable noncontrolling interests		-		-		565		-		565
Total equity		62,792		28,137		38,349		(65,921)		63,357
Total liabilities and equity	$	98,752	$	28,912	$	478,137	$	(106,658)	$	499,143

December 31, 2017
Assets:
Short-term investments^(a)	$	2,541	$	-	$	11,559	$	(3,714)	$	10,386
Other investments^(b)		6,004		-		305,902		-		311,906
Total investments		8,545		-		317,461		(3,714)		322,292
Cash		3		20		2,339		-		2,362
Loans to subsidiaries^(c)		35,004		-		517		(35,521)		-
Investment in consolidated subsidiaries^(c)		40,135		30,359		-		(70,494)		-
Other assets, including deferred income taxes^(d)		16,016		170		159,594		(2,133)		173,647
Total assets	$	99,703	$	30,549	$	479,911	$	(111,862)	$	498,301
Liabilities:
Insurance liabilities	$	-	$	-	$	282,105	$	-	$	282,105
Long-term debt		21,557		642		9,441		-		31,640
Other liabilities, including intercompany balances^(b)		12,458		143		112,275		(6,028)		118,848
Loans from subsidiaries^(c)		517		-		35,004		(35,521)		-
Total liabilities		34,532		785		438,825		(41,549)		432,593
Total AIG shareholders’ equity		65,171		29,764		40,549		(70,313)		65,171
Non-redeemable noncontrolling interests		-		-		537		-		537
Total equity		65,171		29,764		41,086		(70,313)		65,708
Total liabilities and equity	$	99,703	$	30,549	$	479,911	$	(111,862)	$	498,301

(a) At March 31, 2018, includes restricted cash of $15 million and $32 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2017, includes restricted cash of $4 million and $54 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively.

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

(d) At March 31, 2018, includes restricted cash of $1 million and $220 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2017, includes restricted cash of $1 million and $316 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively.

Condensed Consolidating Statements of Income


		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended March 31, 2018
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,033	$	722	$	-	$	(1,755)	$	-
Other income		258		-		11,512		(58)		11,712
Total revenues		1,291		722		11,512		(1,813)		11,712
Expenses:
Interest expense		220		12		48		(3)		277
Gain on extinguishment of debt		-		-		4		-		4
Other expenses		152		1		10,106		(55)		10,204
Total expenses		372		13		10,158		(58)		10,485
Income (loss) from continuing operations before income tax
expense (benefit)		919		709		1,354		(1,755)		1,227
Income tax expense (benefit)		(19)		3		293		-		277
Income (loss) from continuing operations		938		706		1,061		(1,755)		950
Loss from discontinued operations, net of income taxes		-		-		(1)		-		(1)
Net income (loss)		938		706		1,060		(1,755)		949
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests		-		-		11		-		11
Net income (loss) attributable to AIG	$	938	$	706	$	1,049	$	(1,755)	$	938
Three Months Ended March 31, 2017
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,462	$	600	$	-	$	(2,062)	$	-
Other income		196		-		12,382		54		12,632
Total revenues		1,658		600		12,382		(2,008)		12,632
Expenses:
Interest expense		242		12		46		(2)		298
Loss on extinguishment of debt		-		-		(1)		-		(1)
Other expenses		335		1		10,325		(53)		10,608
Total expenses		577		13		10,370		(55)		10,905
Income (loss) from continuing operations before income tax
expense (benefit)		1,081		587		2,012		(1,953)		1,727
Income tax expense (benefit)		(104)		(4)		624		-		516
Income (loss) from continuing operations		1,185		591		1,388		(1,953)		1,211
Net income (loss)		1,185		591		1,388		(1,953)		1,211
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests		-		-		26		-		26
Net income (loss) attributable to AIG	$	1,185	$	591	$	1,362	$	(1,953)	$	1,185

* Eliminated in consolidation.

Condensed Consolidating Statements of Comprehensive Income

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended March 31, 2018
Net income (loss)	$	938	$	706	$	1,060	$	(1,755)	$	949
Other comprehensive income (loss)		(2,669)		4,950		14,655		(19,605)		(2,669)
Comprehensive income (loss)		(1,731)		5,656		15,715		(21,360)		(1,720)
Total comprehensive income attributable to noncontrolling interests		-		-		11		-		11
Comprehensive income (loss) attributable to AIG	$	(1,731)	$	5,656	$	15,704	$	(21,360)	$	(1,731)
Three Months Ended March 31, 2017
Net income (loss)	$	1,185	$	591	$	1,388	$	(1,953)	$	1,211
Other comprehensive income (loss)		551		4,660		51,030		(55,690)		551
Comprehensive income (loss)		1,736		5,251		52,418		(57,643)		1,762
Total comprehensive income attributable to noncontrolling interests		-		-		26		-		26
Comprehensive income (loss) attributable to AIG	$	1,736	$	5,251	$	52,392	$	(57,643)	$	1,736

Condensed Consolidating Statements of Cash Flows

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended March 31, 2018
Net cash (used in) provided by operating activities	$	9	$	362	$	(501)	$	(808)	$	(938)
Cash flows from investing activities:
Sales of investments		1,322		-		15,830		(2,681)		14,471
Sales of divested businesses, net		-		-		6		-		6
Purchase of investments		(39)		-		(15,405)		2,681		(12,763)
Loans to subsidiaries - net		422		-		(60)		(362)		-
Contributions from (to) subsidiaries - net		153		-		-		(153)		-
Net change in short-term investments		(2,460)		-		(580)		-		(3,040)
Other, net		(79)		-		(567)		-		(646)
Net cash (used in) investing activities		(681)		-		(776)		(515)		(1,972)
Cash flows from financing activities:
Issuance of long-term debt		2,472		-		567		-		3,039
Repayments of long-term debt		(1,107)		-		(220)		-		(1,327)
Purchase of common stock		(298)		-		-		-		(298)
Intercompany loans - net		60		-		(422)		362		-
Cash dividends paid		(289)		(377)		(431)		808		(289)
Other, net		(154)		-		1,362		153		1,361
Net cash (used in) provided by financing activities		684		(377)		856		1,323		2,486
Effect of exchange rate changes on cash and restricted cash		-		-		58		-		58
Change in cash and restricted cash		12		(15)		(363)		-		(366)
Cash and restricted cash at beginning of year		8		20		2,709		-		2,737
Cash and restricted cash at end of period	$	20	$	5	$	2,346	$	-	$	2,371

Three Months Ended March 31, 2017
Net cash (used in) provided by operating activities	$	651	$	(23)	$	(10,915)	$	(49)	$	(10,336)
Cash flows from investing activities:
Sales of investments		2,699		-		26,482		(2,482)		26,699
Sales of divested businesses, net		-		-		24		-		24
Purchase of investments		(890)		-		(14,769)		2,482		(13,177)
Loans to subsidiaries - net		(56)		-		183		(127)		-
Contributions from (to) subsidiaries - net		206		-		-		(206)		-
Net change in short-term investments		1,477		-		(227)		-		1,250
Other, net		(5)		-		(292)		-		(297)
Net cash (used in) provided by investing activities		3,431		-		11,401		(333)		14,499
Cash flows from financing activities:
Issuance of long-term debt		-		-		151		-		151
Repayments of long-term debt		-		-		(602)		-		(602)
Purchase of common stock		(3,585)		-		-		-		(3,585)
Intercompany loans - net		(183)		-		56		127		-
Cash dividends paid		(307)		-		(49)		49		(307)
Other, net		-		-		89		206		295
Net cash (used in) provided by financing activities		(4,075)		-		(355)		382		(4,048)
Effect of exchange rate changes on cash and restricted cash		-		-		(82)		-		(82)
Change in cash and restricted cash		7		(23)		49		-		33
Cash and restricted cash at beginning of year		3		34		2,070		-		2,107
Change in cash of businesses held for sale		-		-		52		-		52
Cash and restricted cash at end of period	$	10	$	11	$	2,171	$	-	$	2,192

Supplementary Disclosure of Condensed Consolidating Cash Flow Information

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
March 31, 2018
Cash	$	4	$	5	$	2,094	$	-	$	2,103
Restricted cash included in Short-term investments		15		-		32		-		47
Restricted cash included in Other assets		1		-		220		-		221
Total cash and restricted cash shown in
the Condensed Consolidating Statements of Cash Flows	$	20	$	5	$	2,346	$	-	$	2,371

Cash (paid) received during the 2018 period for:
Interest:
Third party	$	(260)	$	-	$	(97)	$	-	$	(357)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(9)	$	-	$	(19)	$	-	$	(28)
Intercompany		403		-		(403)		-		-

March 31, 2017
Cash	$	2	$	11	$	1,905	$	-	$	1,918
Restricted cash included in Short-term investments		7		-		54		-		61
Restricted cash included in Other assets		1		-		212		-		213
Total cash and restricted cash shown in
the Condensed Consolidating Statements of Cash Flows	$	10	$	11	$	2,171	$	-	$	2,192

Cash (paid) received during the 2017 period for:
Interest:
Third party	$	(288)	$	(23)	$	(43)	$	-	$	(354)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(14)	$	-	$	(54)	$	-	$	(68)
Intercompany		1,090		-		(1,090)		-		-

American International Group, Inc. (As Guarantor) Supplementary Disclosure of Non-Cash Activities:

Three Months Ended March 31,
(in millions)		2018		2017
Intercompany non-cash financing and investing activities:
Capital contributions	$	2,339	$	198
Dividends received in the form of securities		60		150
Return of capital		2,706		-

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2018
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	16. Subsequent Events Dividends Declared On May 2, 2018, our Board of Directors declared a cash dividend on AIG Common Stock of $0.32 per share, payable on June 28, 2018 to shareholders of record on June 14, 2018.

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 31, 2018
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: 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; allowances for loan losses; liability for legal contingencies; fair value measurements of certain financial assets and liabilities; and 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 and provisional estimates associated with the Tax Act. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2018
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Future Application of Accounting Standards	Future Application of Accounting Standards 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. 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. We are evaluating the timing of our adoption. Any impact of the standard will be dependent on the market conditions of the reporting units at the time of adoption. 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. 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 2018 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 adopted the standard using the modified retrospective approach on its required effective date of January 1, 2018. Our analysis of revenues indicated that substantially all of our revenues were from sources excluded from the scope of the standard. For those revenue sources within the scope of the standard, there were no material changes in the timing or measurement of revenues based upon the guidance. As substantially all of our revenue sources were excluded from the scope of the standard, the adoption of the standard did not 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 adopted the standard on its effective date of January 1, 2018 using the modified retrospective approach. The impact of the adoption is primarily related to the reclassification of unrealized gains of equity securities resulting in a net decrease to beginning Accumulated other comprehensive income and a corresponding net increase to beginning Retained earnings of $824 million. 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. We adopted the standard retrospectively on its effective date of January 1, 2018. The standard addresses presentation in the statement of cash flows only and did not have a material impact 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 adopted the standard on its effective date of January 1, 2018 using a modified retrospective approach. The adoption of this standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or 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 adopted 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 had no effect on our reported consolidated financial condition, results of operations or required disclosures. Gains and Losses from the Derecognition of Nonfinancial Assets In February 2017, the FASB issued an accounting standard that clarifies the scope of the derecognition guidance for the sale, transfer and derecognition of non-financial assets to noncustomers that aligns with the new revenue recognition principles. The standard also adds new accounting for partial sales of nonfinancial assets (including real estate) that requires an entity to derecognize a nonfinancial asset when it 1) ceases to have a controlling financial interest in the legal entity that holds the asset based on the consolidation model and 2) transfers control of the asset based on the revenue recognition model. We adopted this standard on its effective date of January 1, 2018 under the modified retrospective approach. Based on our evaluation, the standard did not have a material impact on our reported consolidated financial condition, results of operations, cash flows or 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 adopted this standard on its effective date of January 1, 2018. The standard primarily addresses the presentation of the service cost component of net periodic benefit costs in the income statement. AIG’s U.S. pension plans are frozen and no longer accrue benefits, which are reflected as service costs. Therefore, the standard did not have a material effect 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 prospectively adopted this standard on its effective date of January 1, 2018 and the standard did not have a material effect on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued an accounting standard that allows the optional reclassification of stranded tax effects within accumulated other comprehensive income to retained earnings that arise due to the enactment of the Tax Cuts and Jobs Act of 2017 (Tax Act). The amount of the reclassification would reflect the effect of the change in the U.S. federal corporate income tax rate on the gross deferred tax amounts and related valuation allowances, if any, at the date of enactment of the Tax Act and other income tax effects of the Tax Act on items remaining in accumulated other comprehensive income. We adopted the standard effective January 1, 2018. The impact of the adoption of the standard resulted in an increase to beginning Accumulated other comprehensive income and a corresponding decrease to beginning Retained earnings of $248 million. For more information on the adoption of the Tax Act, see Note 14.

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2018

SEGMENT INFORMATION

Schedule of continuing operations by reportable segment

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

Three Months Ended March 31,	2018				2017
				Adjusted				Adjusted
		Total		Pre-tax		Total		Pre-tax
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
General Insurance
North America	$	3,340	$	320	$	3,840	$	828
International		4,104		190		3,698		233
Total General Insurance		7,444		510		7,538		1,061
Life and Retirement
Individual Retirement		1,361		499		1,373		539
Group Retirement		761		282		718		243
Life Insurance		1,061		52		1,013		54
Institutional Markets		277		59		599		62
Total Life and Retirement		3,460		892		3,703		898
Other Operations		150		(342)		474		(308)
Legacy Portfolio		836		145		1,084		342
AIG Consolidation and elimination		(62)		11		(64)		48
Total AIG Consolidated adjusted revenues and adjusted pre-tax income		11,828		1,216		12,735		2,041
Reconciling Items from adjusted pre-tax income to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		(77)		(77)		11		11
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(31)		-		53
Other income (expense) - net		(11)		-		(9)		-
Gain (Loss) on extinguishment of debt		-		(4)		-		1
Net realized capital losses^*		(29)		(19)		(115)		(115)
Income (loss) from divested businesses		-		8		-		(100)
Non-operating litigation reserves and settlements		1		(13)		10		6
(Unfavorable) favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		(34)		-		(14)
Net loss reserve discount benefit (charge)		-		205		-		25
Restructuring and other costs		-		(24)		-		(181)
Revenues and Pre-tax income	$	11,712	$	1,227	$	12,632	$	1,727

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2018

FAIR VALUE MEASUREMENTS

Assets and liabilities measured at fair value on a recurring basis

March 31, 2018							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^(a)	Collateral			Total
Assets:
Bonds available for sale:
U.S. government and government sponsored entities	$	-	$	2,833	$	-	$	-	$	-	$	2,833
Obligations of states, municipalities and political subdivisions		-		15,550		2,261		-		-		17,811
Non-U.S. governments		25		15,689		9		-		-		15,723
Corporate debt		-		129,468		1,871		-		-		131,339
RMBS		-		20,050		15,839		-		-		35,889
CMBS		-		13,025		584		-		-		13,609
CDO/ABS		-		8,864		7,846		-		-		16,710
Total bonds available for sale		25		205,479		28,410		-		-		233,914
Other bond securities:
U.S. government and government sponsored entities		594		2,183		-		-		-		2,777
Non-U.S. governments		-		54		-		-		-		54
Corporate debt		-		1,784		19		-		-		1,803
RMBS		-		391		1,427		-		-		1,818
CMBS		-		493		73		-		-		566
CDO/ABS		-		603		4,776		-		-		5,379
Total other bond securities		594		5,508		6,295		-		-		12,397
Other equity securities^(b)		1,716		6		3		-		-		1,725
Mortgage and other loans receivable		-		-		-		-		-		-
Other invested assets^(c)		5		1		292		-		-		298
Derivative assets:
Interest rate contracts		-		2,549		-		-		-		2,549
Foreign exchange contracts		-		792		3		-		-		795
Equity contracts		48		142		78		-		-		268
Credit contracts		-		-		2		-		-		2
Other contracts		-		-		17		-		-		17
Counterparty netting and cash collateral		-		-		-		(1,589)		(1,268)		(2,857)
Total derivative assets		48		3,483		100		(1,589)		(1,268)		774
Short-term investments		2,611		483		-		-		-		3,094
Separate account assets		85,362		5,227		-		-		-		90,589
Total	$	90,361	$	220,187	$	35,100	$	(1,589)	$	(1,268)	$	342,791
Liabilities:
Policyholder contract deposits	$	-	$	15	$	3,696	$	-	$	-	$	3,711
Derivative liabilities:
Interest rate contracts		1		2,185		17		-		-		2,203
Foreign exchange contracts		-		1,213		4		-		-		1,217
Equity contracts		-		13		-		-		-		13
Credit contracts		-		12		252		-		-		264
Other contracts		-		-		5		-		-		5
Counterparty netting and cash collateral		-		-		-		(1,589)		(980)		(2,569)
Total derivative liabilities		1		3,423		278		(1,589)		(980)		1,133
Long-term debt		-		2,820		-		-		-		2,820
Other liabilities		25		-		-		-		-		25
Total	$	26	$	6,258	$	3,974	$	(1,589)	$	(980)	$	7,689

December 31, 2017							Counterparty		Cash
(in millions)		Level 1		Level 2		Level 3		Netting^(a)		Collateral		Total
Assets:
Bonds available for sale:
U.S. government and government sponsored entities	$	201	$	2,455	$	-	$	-	$	-	$	2,656
Obligations of states, municipalities and political subdivisions		-		16,240		2,404		-		-		18,644
Non-U.S. governments		20		15,631		8		-		-		15,659
Corporate debt		-		133,003		1,173		-		-		134,176
RMBS		-		21,098		16,136		-		-		37,234
CMBS		-		13,217		624		-		-		13,841
CDO/ABS		-		8,131		8,651		-		-		16,782
Total bonds available for sale		221		209,775		28,996		-		-		238,992
Other bond securities:
U.S. government and government sponsored entities		238		2,564		-		-		-		2,802
Non-U.S. governments		-		57		-		-		-		57
Corporate debt		-		1,891		18		-		-		1,909
RMBS		-		421		1,464		-		-		1,885
CMBS		-		485		74		-		-		559
CDO/ABS		-		604		4,956		-		-		5,560
Total other bond securities		238		6,022		6,512		-		-		12,772
Equity securities available for sale:
Common stock		1,061		-		-		-		-		1,061
Preferred stock		18		515		-		-		-		533
Mutual funds		110		4		-		-		-		114
Total equity securities available for sale		1,189		519		-		-		-		1,708
Other equity securities		589		-		-		-		-		589
Mortgage and other loans receivable		-		-		5		-		-		5
Other invested assets^(c)		-		1		250		-		-		251
Derivative assets:
Interest rate contracts		1		2,170		-		-		-		2,171
Foreign exchange contracts		-		827		4		-		-		831
Equity contracts		188		252		82		-		-		522
Credit contracts		-		-		1		-		-		1
Other contracts		-		-		20		-		-		20
Counterparty netting and cash collateral		-		-		-		(1,464)		(1,159)		(2,623)
Total derivative assets		189		3,249		107		(1,464)		(1,159)		922
Short-term investments		2,078		537		-		-		-		2,615
Separate account assets		87,141		5,657		-		-		-		92,798
Total	$	91,645	$	225,760	$	35,870	$	(1,464)	$	(1,159)	$	350,652
Liabilities:
Policyholder contract deposits	$	-	$	14	$	4,136	$	-	$	-	$	4,150
Derivative liabilities:
Interest rate contracts		2		2,176		22		-		-		2,200
Foreign exchange contracts		-		1,241		4		-		-		1,245
Equity contracts		2		19		-		-		-		21
Credit contracts		-		14		263		-		-		277
Other contracts		-		-		5		-		-		5
Counterparty netting and cash collateral		-		-		-		(1,464)		(1,249)		(2,713)
Total derivative liabilities		4		3,450		294		(1,464)		(1,249)		1,035
Long-term debt		-		2,888		-		-		-		2,888
Other liabilities		46		43		-		-		-		89
Total	$	50	$	6,395	$	4,430	$	(1,464)	$	(1,249)	$	8,162

(a) 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				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		Gains (Losses)		Other		Issuances and		Gross		Gross				to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Three Months Ended March 31, 2018
Assets:
Bonds available for sale:
Obligations of states,
municipalities and
political subdivisions	$	2,404	$	1	$	(75)	$	(69)	$	-	$	-	$	-	$	-	$	2,261	$	-
Non-U.S. governments		8		(4)		4		1		-		-		-		-		9		-
Corporate debt		1,173		(57)		10		248		565		(68)		-		-		1,871		-
RMBS		16,136		266		5		(536)		-		(32)		-		-		15,839		-
CMBS		624		6		(17)		(23)		-		(6)		-		-		584		-
CDO/ABS		8,651		8		(88)		(710)		-		(15)		-		-		7,846		-
Total bonds available for sale		28,996		220		(161)		(1,089)		565		(121)		-		-		28,410		-
Other bond securities:
Corporate debt		18		1		-		-		-		-		-		-		19		-
RMBS		1,464		39		-		(76)		-		-		-		-		1,427		51
CMBS		74		(1)		-		(1)		1		-		-		-		73		(1)
CDO/ABS		4,956		89		-		(260)		-		(9)		-		-		4,776		8
Total other bond securities		6,512		128		-		(337)		1		(9)		-		-		6,295		58
Other equity securities^(a)		-		-		-		3		-		-		-		-		3		2
Mortgage and other loans receivable		5		-		-		(5)		-		-		-		-		-		-
Other invested assets		250		23		1		18		-		-		-		-		292		30
Total	$	35,763	$	371	$	(160)	$	(1,410)	$	566	$	(130)	$	-	$	-	$	35,000	$	90
				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		(Gains) Losses		Other		Issuances and		Gross		Gross				to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	4,136	$	(506)	$	-	$	66	$	-	$	-	$	-	$	-	$	3,696	$	604
Derivative liabilities, net:
Interest rate contracts		22		(3)		-		(2)		-		-		-		-		17		3
Foreign exchange contracts		-		(10)		-		11		-		-		-		-		1		3
Equity contracts		(82)		4		-		-		-		-		-		-		(78)		(4)
Credit contracts		262		(10)		-		(2)		-		-		-		-		250		10
Other contracts		(15)		(17)		-		20		-		-		-		-		(12)		17
Total derivative liabilities, net^(b)		187		(36)		-		27		-		-		-		-		178		29
Long-term debt^(c)		-		-		-		-		-		-		-		-		-		-
Total	$	4,323	$	(542)	$	-	$	93	$	-	$	-	$	-	$	-	$	3,874	$	633
				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		Gains (Losses)		Other		Issuances and		Gross		Gross				to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Three Months Ended March 31, 2017
Assets:
Bonds available for sale:
Obligations of states,
municipalities and
political subdivisions	$	2,040	$	2	$	(4)	$	21	$	-	$	(18)	$	-	$	-	$	2,041	$	-
Non-U.S. governments		17		-		-		(1)		-		-		-		-		16		-
Corporate debt		1,133		(4)		(3)		(13)		136		(170)		-		-		1,079		-
RMBS		16,906		289		151		(858)		8		(9)		-		-		16,487		-
CMBS		2,040		5		5		(348)		-		(699)		-		-		1,003		-
CDO/ABS		7,835		6		48		(102)		-		(32)		-		-		7,755		-
Total bonds available for sale		29,971		298		197		(1,301)		144		(928)		-		-		28,381		-
Other bond securities:
Corporate debt		17		1		-		-		-		-		-		-		18		1
RMBS		1,605		55		-		(125)		-		(33)		-		-		1,502		24
CMBS		155		-		-		(17)		-		(73)		-		-		65		1
CDO/ABS		5,703		173		-		(368)		-		-		-		-		5,508		70
Total other bond securities		7,480		229		-		(510)		-		(106)		-		-		7,093		96
Equity securities available for sale:
Common stock		-		-		-		8		-		-		-		-		8		-
Total equity securities available for sale		-		-		-		8		-		-		-		-		8		-
Other equity securities		-		-		-		-		-		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		-		-		-		-		-		11		-
Other invested assets		204		(1)		(5)		(17)		-		(1)		-		-		180		-
Total	$	37,666	$	526	$	192	$	(1,820)	$	144	$	(1,035)	$	-	$	-	$	35,673	$	96
				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		(Gains) Losses		Other		Issuances and		Gross		Gross				to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,033	$	(45)	$	-	$	84	$	-	$	-	$	-	$	-	$	3,072	$	98
Derivative liabilities, net:
Interest rate contracts		38		(3)		-		(3)		-		-		-		-		32		3
Foreign exchange contracts		11		-		-		(5)		-		-		-		-		6		-
Equity contracts		(58)		(11)		-		7		-		-		-		-		(62)		5
Credit contracts		329		(15)		-		1		-		-		-		-		315		11
Other contracts		(11)		(19)		-		19		-		-		-		-		(11)		(1)
Total derivative liabilities, net^(b)		309		(48)		-		19		-		-		-		-		280		18
Long-term debt^(c)		71		12		-		(25)		-		-		-		-		58		(2)
Total	$	3,413	$	(81)	$	-	$	78	$	-	$	-	$	-	$	-	$	3,410	$	114

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

Changes in Level 3 recurring fair value measurements (Liabilities)

				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		Gains (Losses)		Other		Issuances and		Gross		Gross				to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Three Months Ended March 31, 2018
Assets:
Bonds available for sale:
Obligations of states,
municipalities and
political subdivisions	$	2,404	$	1	$	(75)	$	(69)	$	-	$	-	$	-	$	-	$	2,261	$	-
Non-U.S. governments		8		(4)		4		1		-		-		-		-		9		-
Corporate debt		1,173		(57)		10		248		565		(68)		-		-		1,871		-
RMBS		16,136		266		5		(536)		-		(32)		-		-		15,839		-
CMBS		624		6		(17)		(23)		-		(6)		-		-		584		-
CDO/ABS		8,651		8		(88)		(710)		-		(15)		-		-		7,846		-
Total bonds available for sale		28,996		220		(161)		(1,089)		565		(121)		-		-		28,410		-
Other bond securities:
Corporate debt		18		1		-		-		-		-		-		-		19		-
RMBS		1,464		39		-		(76)		-		-		-		-		1,427		51
CMBS		74		(1)		-		(1)		1		-		-		-		73		(1)
CDO/ABS		4,956		89		-		(260)		-		(9)		-		-		4,776		8
Total other bond securities		6,512		128		-		(337)		1		(9)		-		-		6,295		58
Other equity securities^(a)		-		-		-		3		-		-		-		-		3		2
Mortgage and other loans receivable		5		-		-		(5)		-		-		-		-		-		-
Other invested assets		250		23		1		18		-		-		-		-		292		30
Total	$	35,763	$	371	$	(160)	$	(1,410)	$	566	$	(130)	$	-	$	-	$	35,000	$	90
				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		(Gains) Losses		Other		Issuances and		Gross		Gross				to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	4,136	$	(506)	$	-	$	66	$	-	$	-	$	-	$	-	$	3,696	$	604
Derivative liabilities, net:
Interest rate contracts		22		(3)		-		(2)		-		-		-		-		17		3
Foreign exchange contracts		-		(10)		-		11		-		-		-		-		1		3
Equity contracts		(82)		4		-		-		-		-		-		-		(78)		(4)
Credit contracts		262		(10)		-		(2)		-		-		-		-		250		10
Other contracts		(15)		(17)		-		20		-		-		-		-		(12)		17
Total derivative liabilities, net^(b)		187		(36)		-		27		-		-		-		-		178		29
Long-term debt^(c)		-		-		-		-		-		-		-		-		-		-
Total	$	4,323	$	(542)	$	-	$	93	$	-	$	-	$	-	$	-	$	3,874	$	633
				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		Gains (Losses)		Other		Issuances and		Gross		Gross				to Assets		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Three Months Ended March 31, 2017
Assets:
Bonds available for sale:
Obligations of states,
municipalities and
political subdivisions	$	2,040	$	2	$	(4)	$	21	$	-	$	(18)	$	-	$	-	$	2,041	$	-
Non-U.S. governments		17		-		-		(1)		-		-		-		-		16		-
Corporate debt		1,133		(4)		(3)		(13)		136		(170)		-		-		1,079		-
RMBS		16,906		289		151		(858)		8		(9)		-		-		16,487		-
CMBS		2,040		5		5		(348)		-		(699)		-		-		1,003		-
CDO/ABS		7,835		6		48		(102)		-		(32)		-		-		7,755		-
Total bonds available for sale		29,971		298		197		(1,301)		144		(928)		-		-		28,381		-
Other bond securities:
Corporate debt		17		1		-		-		-		-		-		-		18		1
RMBS		1,605		55		-		(125)		-		(33)		-		-		1,502		24
CMBS		155		-		-		(17)		-		(73)		-		-		65		1
CDO/ABS		5,703		173		-		(368)		-		-		-		-		5,508		70
Total other bond securities		7,480		229		-		(510)		-		(106)		-		-		7,093		96
Equity securities available for sale:
Common stock		-		-		-		8		-		-		-		-		8		-
Total equity securities available for sale		-		-		-		8		-		-		-		-		8		-
Other equity securities		-		-		-		-		-		-		-		-		-		-
Mortgage and other loans receivable		11		-		-		-		-		-		-		-		11		-
Other invested assets		204		(1)		(5)		(17)		-		(1)		-		-		180		-
Total	$	37,666	$	526	$	192	$	(1,820)	$	144	$	(1,035)	$	-	$	-	$	35,673	$	96
				Net																Changes in
				Realized and				Purchases,												Unrealized Gains
				Unrealized				Sales,								Reclassified				(Losses) Included
		Fair Value		(Gains) Losses		Other		Issuances and		Gross		Gross				to Liabilities		Fair Value		in Income on
		Beginning		Included		Comprehensive		Settlements,		Transfers		Transfers		Divested		Held for		End		Instruments Held
(in millions)		of Period		in Income		Income (Loss)		Net		in		out		Businesses		Sale		of Period		at End of Period
Liabilities:
Policyholder contract deposits	$	3,033	$	(45)	$	-	$	84	$	-	$	-	$	-	$	-	$	3,072	$	98
Derivative liabilities, net:
Interest rate contracts		38		(3)		-		(3)		-		-		-		-		32		3
Foreign exchange contracts		11		-		-		(5)		-		-		-		-		6		-
Equity contracts		(58)		(11)		-		7		-		-		-		-		(62)		5
Credit contracts		329		(15)		-		1		-		-		-		-		315		11
Other contracts		(11)		(19)		-		19		-		-		-		-		(11)		(1)
Total derivative liabilities, net^(b)		309		(48)		-		19		-		-		-		-		280		18
Long-term debt^(c)		71		12		-		(25)		-		-		-		-		58		(2)
Total	$	3,413	$	(81)	$	-	$	78	$	-	$	-	$	-	$	-	$	3,410	$	114

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

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

		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	Gains (Losses)			Income		Total
Three Months Ended March 31, 2018
Bonds available for sale	$	282	$	(62)	$	-	$	220
Other bond securities		23		(4)		109		128
Other equity securities		-		-		-		-
Other invested assets		25		-		(2)		23
Three Months Ended March 31, 2017
Bonds available for sale	$	298	$	-	$	-	$	298
Other bond securities		75		6		148		229
Other equity securities		-		-		-		-
Other invested assets		-		(3)		2		(1)

		Net		Net Realized
		Investment		Capital		Other
(in millions)		Income	(Gains) Losses			Income		Total
Three Months Ended March 31, 2018
Policyholder contract deposits		-		(506)		-		(506)
Derivative liabilities, net		-		1		(37)		(36)
Long-term debt		-		-		-		-
Three Months Ended March 31, 2017
Policyholder contract deposits		-		(45)		-		(45)
Derivative liabilities, net		-		(7)		(41)		(48)
Long-term debt		-		-		12		12

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

						Issuances		Purchases, Sales,
						and		Issuances and
(in millions)		Purchases		Sales		Settlements		Settlements, Net^(a)
Three Months Ended March 31, 2018
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	15	$	-	$	(84)	$	(69)
Non-U.S. governments		2		-		(1)		1
Corporate debt		254		(3)		(3)		248
RMBS		233		(5)		(764)		(536)
CMBS		12		-		(35)		(23)
CDO/ABS		495		(851)		(354)		(710)
Total bonds available for sale		1,011		(859)		(1,241)		(1,089)
Other bond securities:
RMBS		1		(5)		(72)		(76)
CMBS		-		-		(1)		(1)
CDO/ABS		-		(4)		(256)		(260)
Total other bond securities		1		(9)		(329)		(337)
Other equity securities		3		-		-		3
Mortgage and other loans receivable		-		(5)		-		(5)
Other invested assets		22		-		(4)		18
Total assets	$	1,037	$	(873)	$	(1,574)	$	(1,410)
Liabilities:
Policyholder contract deposits	$	-	$	112	$	(46)	$	66
Derivative liabilities, net		(7)		-		34		27
Long-term debt^(b)		-		-		-		-
Total liabilities	$	(7)	$	112	$	(12)	$	93
Three Months Ended March 31, 2017
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions	$	37	$	(5)	$	(11)	$	21
Non-U.S. governments		-		(1)		-		(1)
Corporate debt		-		-		(13)		(13)
RMBS		339		(244)		(953)		(858)
CMBS		39		(67)		(320)		(348)
CDO/ABS		13		-		(115)		(102)
Total bonds available for sale		428		(317)		(1,412)		(1,301)
Other bond securities:
RMBS		98		(167)		(56)		(125)
CMBS		-		(11)		(6)		(17)
CDO/ABS		-		-		(368)		(368)
Total other bond securities		98		(178)		(430)		(510)
Equity securities available for sale		8		-		-		8
Other equity securities		-		-		-		-
Mortgage and other loans receivable		-		-		-		-
Other invested assets		1		-		(18)		(17)
Total assets	$	535	$	(495)	$	(1,860)	$	(1,820)
Liabilities:
Policyholder contract deposits	$	-	$	70	$	14	$	84
Derivative liabilities, net		-		-		19		19
Long-term debt^(b)		-		-		(25)		(25)
Total liabilities	$	-	$	70	$	8	$	78

(a) There were no issuances during the three-month periods ended March 31, 2018 and 2017, respectively.

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

Significant unobservable inputs used for recurring fair value measurements

	Fair Value at
	March 31,		Valuation		Range
(in millions)	2018		Technique	Unobservable Input^(b)	(Weighted Average)
Assets:

Obligations of states, municipalities
and political subdivisions	$	1,571	Discounted cash flow	Yield	3.82% - 4.51% (4.16%)

Corporate debt		1,638	Discounted cash flow	Yield	4.74% - 13.88% (9.31%)

RMBS^(a)		15,679	Discounted cash flow	Constant prepayment rate	3.71% - 12.82% (8.27%)
				Loss severity	40.73% - 75.96% (58.34%)
				Constant default rate	3.23% - 8.25% (5.74%)
				Yield	2.99% - 5.33% (4.16%)

CDO/ABS^(a)		5,200	Discounted cash flow	Yield	3.69% - 4.99% (4.34%)

CMBS		456	Discounted cash flow	Yield	2.82% - 6.34% (4.58%)
Liabilities:

Embedded derivatives within
Policyholder contract deposits:

Guaranteed minimum withdrawal benefits (GMWB)		1,601	Discounted cash flow	Equity volatility	6.45% - 50.55%
				Base lapse rate	0.35% - 14.00%
				Dynamic lapse multiplier	30.00% - 170.00%
				Mortality multiplier^(c)	40.00% - 153.00%
				Utilization	90.00% - 100.00%
				Equity / interest-rate correlation	20.00% - 40.00%

Index Annuities		1,517	Discounted cash flow	Lapse rate	0.50% - 40.00%
				Mortality multiplier^(c)	42.00% - 162.00%
				Option Budget	1.00% - 4.00%

Indexed Life		554	Discounted cash flow	Base lapse rate	2.00% - 19.00%
				Mortality rate	0.00% - 40.00%


		Fair Value at
		December 31,	Valuation		Range
(in millions)		2017	Technique	Unobservable Input^(b)	(Weighted Average)
Assets:

Obligations of states, municipalities
and political subdivisions	$	1,620	Discounted cash flow	Yield	3.55% - 4.32% (3.94%)

Corporate debt		1,086	Discounted cash flow	Yield	3.26% - 12.22% (7.74%)

RMBS^(a)		16,156	Discounted cash flow	Constant prepayment rate	3.97% - 13.42% (8.69%)
				Loss severity	43.15% - 77.15% (60.15%)
				Constant default rate	3.31% - 8.30% (5.80%)
				Yield	2.73% - 5.19% (3.96%)

CDO/ABS^(a)		5,254	Discounted cash flow	Yield	3.38% - 4.78% (4.08%)

CMBS		487	Discounted cash flow	Yield	2.22% - 7.77% (4.99%)
Liabilities:

Embedded derivatives within
Policyholder contract deposits:

GMWB		1,994	Discounted cash flow	Equity volatility	6.45% - 51.25%
				Base lapse rate	0.35% - 14.00%
				Dynamic lapse multiplier	30.00% - 170.00%
				Mortality multiplier^(c)	40.00% - 153.00%
				Utilization	90.00% - 100.00%
				Equity / interest-rate correlation	20.00% - 40.00%

Index Annuities		1,603	Discounted cash flow	Lapse rate	0.50% - 40.00%
				Mortality multiplier^(c)	42.00% - 162.00%
				Option Budget	1.00% - 4.00%

Indexed Life		515	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

		March 31, 2018				December 31, 2017
			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	$	1,261	$	719	$	1,243	$	706

Real Estate / Infrastructure	Investments in real estate properties and infrastructure positions, including power plants and other energy generating facilities		238		166		210		187

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		145		133		134		73

Distressed	Securities of companies that are in default, under bankruptcy protection, or troubled		109		43		113		42

Other	Includes multi-strategy, mezzanine and other strategies		492		198		428		219
Total private equity funds			2,245		1,259		2,128		1,227
Hedge funds:
Event-driven	Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations		1,074		-		1,128		-

Long-short	Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk		1,196		-		1,233		-

Macro	Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions		1,045		-		1,011		-

Distressed	Securities of companies that are in default, under bankruptcy protection or troubled		170		8		266		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		204		3		231		4
Total hedge funds			3,689		11		3,869		12
Total		$	5,934	$	1,270	$	5,997	$	1,239

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

Three Months Ended March 31,	Gain (Loss)
(in millions)		2018		2017
Assets:
Bond and equity securities	$	23	$	349
Alternative investments^(a)		128		181
Liabilities:
Long-term debt^(b)		52		(15)
Total gain	$	203	$	515

(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

	March 31, 2018						December 31, 2017
			Outstanding						Outstanding
(in millions)	Fair Value		Principal Amount		Difference		Fair Value		Principal Amount		Difference
Assets:
Mortgage and other loans receivable	$	-	$	-	$	-	$	5	$	5	$	-
Liabilities:
Long-term debt^*	$	2,820	$	2,311	$	509	$	2,888	$	2,280	$	608

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

Fair value assets measured on nonrecurring basis and impairment charges

		Assets at Fair Value							Impairment Charges
		Non-Recurring Basis							Three Months Ended March 31,
(in millions)		Level 1		Level 2		Level 3		Total		2018		2017
March 31, 2018
Other investments	$	-	$	-	$	95	$	95	$	28	$	17
Investments in life settlements		-		-		-		-		-		41
Other assets^*		-		-		-		-		-		35
Total	$	-	$	-	$	95	$	95	$	28	$	93
December 31, 2017
Other investments	$	-	$	-	$	55	$	55
Investments in life settlements		-		-		-		-
Other assets		-		-		-		-
Total	$	-	$	-	$	55	$	55

* Impairments in 2017 included $35 million related to other assets of $179 million that were reclassified to assets held for sale.

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
March 31, 2018
Assets:
Mortgage and other loans receivable	$	-	$	114	$	38,558	$	38,672	$	38,540
Other invested assets		-		764		6		770		767
Short-term investments		-		11,522		-		11,522		11,522
Cash		2,103		-		-		2,103		2,103
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		373		121,648		122,021		117,265
Other liabilities		-		3,210		-		3,210		3,210
Long-term debt		-		24,488		4,507		28,995		30,799
December 31, 2017
Assets:
Mortgage and other loans receivable	$	-	$	117	$	37,644	$	37,761	$	37,018
Other invested assets		-		590		6		596		593
Short-term investments		-		7,771		-		7,771		7,771
Cash		2,362		-		-		2,362		2,362
Liabilities:
Policyholder contract deposits associated
with investment-type contracts		-		387		121,809		122,196		114,326
Other liabilities		-		4,494		-		4,494		4,494
Long-term debt		-		23,930		4,313		28,243		28,752

INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2018

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^(b)
March 31, 2018
Bonds available for sale:
U.S. government and government sponsored entities	$	2,764	$	121	$	(52)	$	2,833	$	-
Obligations of states, municipalities and political subdivisions		16,943		941		(73)		17,811		-
Non-U.S. governments		15,350		570		(197)		15,723		-
Corporate debt		127,106		6,020		(1,787)		131,339		13
Mortgage-backed, asset-backed and collateralized:
RMBS		33,131		3,150		(392)		35,889		1,343
CMBS		13,558		273		(222)		13,609		29
CDO/ABS		16,500		284		(74)		16,710		26
Total mortgage-backed, asset-backed and collateralized		63,189		3,707		(688)		66,208		1,398
Total bonds available for sale^(c)		225,352		11,359		(2,797)		233,914		1,411
December 31, 2017
Bonds available for sale:
U.S. government and government sponsored entities	$	2,532	$	160	$	(36)	$	2,656	$	-
Obligations of states, municipalities and political subdivisions		17,377		1,297		(30)		18,644		-
Non-U.S. governments		15,059		717		(117)		15,659		-
Corporate debt		126,310		8,666		(800)		134,176		17
Mortgage-backed, asset-backed and collateralized:
RMBS		34,181		3,273		(220)		37,234		1,568
CMBS		13,538		408		(105)		13,841		42
CDO/ABS		16,464		370		(52)		16,782		29
Total mortgage-backed, asset-backed and collateralized		64,183		4,051		(377)		67,857		1,639
Total bonds available for sale^(c)		225,461		14,891		(1,360)		238,992		1,656
Equity securities available for sale:
Common stock		703		379		(21)		1,061		-
Preferred stock		504		29		-		533		-
Mutual funds		98		16		-		114		-
Total equity securities available for sale		1,305		424		(21)		1,708		-
Total	$	226,766	$	15,315	$	(1,381)	$	240,700	$	1,656

(c) At March 31, 2018 and December 31, 2017, bonds available for sale held by us that were below investment grade or not rated totaled $30.4 billion and $31.5 billion, respectively.

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

	Less than 12 Months				12 Months or More				Total
				Gross				Gross				Gross
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in millions)		Value		Losses		Value		Losses		Value		Losses
March 31, 2018
Bonds available for sale:
U.S. government and government sponsored entities	$	1,097	$	25	$	529	$	27	$	1,626	$	52
Obligations of states, municipalities and political
subdivisions		2,010		36		599		37		2,609		73
Non-U.S. governments		5,825		127		893		70		6,718		197
Corporate debt		38,072		1,263		6,701		524		44,773		1,787
RMBS		7,716		206		3,349		186		11,065		392
CMBS		6,105		133		1,347		89		7,452		222
CDO/ABS		3,127		34		831		40		3,958		74
Total bonds available for sale	$	63,952	$	1,824	$	14,249	$	973	$	78,201	$	2,797
December 31, 2017
Bonds available for sale:
U.S. government and government sponsored entities	$	770	$	23	$	332	$	13	$	1,102	$	36
Obligations of states, municipalities and political
subdivisions		586		6		646		24		1,232		30
Non-U.S. governments		3,511		54		857		63		4,368		117
Corporate debt		15,578		453		7,291		347		22,869		800
RMBS		6,212		99		3,790		121		10,002		220
CMBS		3,408		46		1,389		59		4,797		105
CDO/ABS		1,455		24		822		28		2,277		52
Total bonds available for sale		31,520		705		15,127		655		46,647		1,360
Equity securities available for sale:
Common stock		136		21		-		-		136		21
Mutual funds		1		-		-		-		1		-
Total equity securities available for sale		137		21		-		-		137		21
Total	$	31,657	$	726	$	15,127	$	655	$	46,784	$	1,381

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
March 31, 2018
Due in one year or less	$	8,393	$	8,524	$	1,881	$	1,872
Due after one year through five years		46,987		48,261		11,548		11,232
Due after five years through ten years		42,637		42,973		22,337		21,507
Due after ten years		64,146		67,948		22,069		21,115
Mortgage-backed, asset-backed and collateralized		63,189		66,208		23,163		22,475
Total	$	225,352	$	233,914	$	80,998	$	78,201
December 31, 2017
Due in one year or less	$	7,932	$	8,071	$	1,526	$	1,515
Due after one year through five years		47,179		49,093		7,764		7,571
Due after five years through ten years		42,617		43,944		11,559		11,143
Due after ten years		63,550		70,027		9,705		9,342
Mortgage-backed, asset-backed and collateralized		64,183		67,857		17,453		17,076
Total	$	225,461	$	238,992	$	48,007	$	46,647

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

		2018				2017
		Gross		Gross		Gross		Gross
Three Months Ended March 31,	Realized		Realized		Realized		Realized
(in millions)		Gains		Losses		Gains		Losses
Fixed maturity securities	$	70	$	60	$	333	$	178
Equity securities		16		-		17		16
Total	$	86	$	60	$	350	$	194

The fair value of AIG's other securities

		March 31, 2018				December 31, 2017
		Fair	Percent			Fair	Percent
(in millions)		Value	of Total			Value	of Total
Fixed maturity securities:
U.S. government and government sponsored entities	$	2,777	20	%	$	2,802	21	%
Non-U.S. governments		54	-			57	1
Corporate debt		1,803	13			1,909	14
Mortgage-backed, asset-backed and collateralized:
RMBS		1,818	13			1,885	14
CMBS		566	4			559	4
CDO/ABS and other collateralized^*		5,379	38			5,560	42
Total mortgage-backed, asset-backed and collateralized		7,763	55			8,004	60
Total fixed maturity securities		12,397	88			12,772	96
Equity securities		1,725	12			589	4
Total	$	14,122	100	%	$	13,361	100	%

* Includes $220 million and $251 million of U.S. government agency-backed ABS at March 31, 2018 and December 31, 2017, respectively.

Components of other invested assets

		March 31,		December 31,
(in millions)		2018		2017
Alternative investments^{(a) (b)}	$	11,125	$	11,308
Investment real estate^(c)		8,636		8,258
Aircraft asset investments^(d)		201		206
All other investments		1,221		1,050
Total	$	21,183	$	20,822

(b) Approximately 69 percent of our hedge fund portfolio is available for redemption in 2018, an additional 31 percent will be available between 2019 and 2027.

(c) Net of accumulated depreciation of $556 million and $515 million in March 31, 2018 and December 31, 2017, respectively.

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

Components of net investment income

Three Months Ended March 31,
(in millions)		2018		2017
Available for sale fixed maturity securities, including short-term investments	$	2,610	$	2,667
Other fixed maturity securities		(21)		134
Equity securities^(a)		(32)		5
Interest on mortgage and other loans		450		393
Alternative investments^(b)		337		448
Real estate		31		49
Other investments		10		116
Total investment income		3,385		3,812
Investment expenses		124		126
Net investment income	$	3,261	$	3,686

(a) Upon the adoption of the Financial Instruments Recognition and Measurement Standard on January 1, 2018, the change in fair value of all equity securities is included in Net Investment Income.

Components of net realized capital gains (losses)

Three Months Ended March 31,
(in millions)		2018		2017
Sales of fixed maturity securities	$	10	$	155
Sales of equity securities		16		1
Other-than-temporary impairments:
Severity		-		-
Change in intent		(49)		(1)
Foreign currency declines		(6)		(10)
Issuer-specific credit events		(32)		(57)
Adverse projected cash flows		-		-
Provision for loan losses		(24)		6
Foreign exchange transactions		53		159
Variable annuity embedded derivatives, net of related hedges		147		(389)
All other derivatives and hedge accounting		(225)		13
Impairments on investments in life settlements		-		(41)
Other		91		49
Net realized capital losses	$	(19)	$	(115)

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

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

Three Months Ended March 31,
(in millions)		2018		2017
Increase (decrease) in unrealized appreciation (depreciation) of investments:
Fixed maturity securities	$	(4,969)	$	773
Equity securities^(a)		-		114
Other investments		(25)		(54)
Total increase (decrease) in unrealized appreciation (depreciation) of investments^(b)	$	(4,994)	$	833

(b) Excludes net unrealized losses attributable to businesses held for sale.

The following table summarizes the unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date*:

Three Months Ended March 31, 2018				Other Invested
(in millions)		Equities		Assets		Total
Net gains and losses recognized during the period on equity securities	$	(31)	$	192	$	161
Less: Net gains and losses recognized during the period on equity securities sold
during the period		(8)		(1)		(9)
Unrealized gains and losses recognized during the reporting period on equity
securities still held at the reporting date	$	(23)	$	193	$	170

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

Three Months Ended March 31,
(in millions)		2018		2017
Balance, beginning of year	$	526	$	1,098
Increases due to:
Credit impairments on new securities subject to impairment losses		14		17
Additional credit impairments on previously impaired securities		17		30
Reductions due to:
Credit impaired securities fully disposed for which there was no
prior intent or requirement to sell		(51)		(11)
Accretion on securities previously impaired due to credit^*		(148)		(188)
Balance, end of period	$	358	$	946

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

(in millions)	At Date of Acquisition
Contractually required payments (principal and interest)	$	36,711
Cash flows expected to be collected^*		30,121
Recorded investment in acquired securities		20,334

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

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

(in millions)	March 31, 2018		December 31, 2017
Outstanding principal balance	$	14,253	$	14,718
Amortized cost		10,141		10,492
Fair value		11,977		12,293

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

Three Months Ended March 31,
(in millions)		2018		2017
Balance, beginning of period	$	7,501	$	7,498
Newly purchased PCI securities		23		88
Disposals		-		(18)
Accretion		(187)		(210)
Effect of changes in interest rate indices		206		21
Net reclassification from (to) non-accretable difference, including effects of prepayments		58		214
Balance, end of period	$	7,601	$	7,593

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

(in millions)		March 31, 2018		December 31, 2017
Fixed maturity securities available for sale	$	1,767	$	2,911
Other bond securities, at fair value	$	1,381	$	1,585

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
March 31, 2018
Bonds available for sale:
Non-U.S. governments	$	-	$	94	$	18	$	-	$	-	$	112
Corporate debt		-		34		6		-		-		40
Other bond securities:
U.S. government and government sponsored entities		15		-		-		-		-		15
Non-U.S. governments		-		-		3		-		-		3
Corporate debt		-		93		18		-		-		111
Total	$	15	$	221	$	45	$	-	$	-	$	281

December 31, 2017
Bonds available for sale:
Non-U.S. governments	$	-	$	7	$	19	$	-	$	-	$	26
Corporate debt		-		13		35		-		-		48
Other bond securities:
U.S. government and government sponsored entities		44		-		-		-		-		44
Non-U.S. governments		-		-		11		-		-		11
Corporate debt		-		387		1,065		-		-		1,452
Total	$	44	$	407	$	1,130	$	-	$	-	$	1,581

	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
March 31, 2018
Bonds available for sale:
Non-U.S. governments	$	-	$	-	$	32	$	5	$	-	$	37
Corporate debt		-		235		1,224		119		-		1,578
Other bond securities:
Non-U.S. governments		-		-		7		-		-		7
Corporate debt		-		175		995		75		-		1,245
Total	$	-	$	410	$	2,258	$	199	$	-	$	2,867

December 31, 2017
Bonds available for sale:
Non-U.S. governments	$	-	$	-	$	18	$	-	$	-	$	18
Corporate debt		-		588		2,231		-		-		2,819
Other bond securities:
Non-U.S. governments		-		-		22		-		-		22
Corporate debt		-		-		56		-		-		56
Total	$	-	$	588	$	2,327	$	-	$	-	$	2,915

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

(in millions)		March 31, 2018		December 31, 2017
Securities collateral pledged to us	$	5,020	$	2,227
Amount sold or repledged by us	$	97	$	46

LENDING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2018

LENDING ACTIVITIES

Composition of Mortgages and other loans receivable

	March 31,			December 31,
(in millions)		2018		2017
Commercial mortgages^*	$	29,699	$	28,596
Residential mortgages		5,811		5,398
Life insurance policy loans		2,203		2,295
Commercial loans, other loans and notes receivable		1,174		1,056
Total mortgage and other loans receivable		38,887		37,345
Allowance for credit losses		(347)		(322)
Mortgage and other loans receivable, net	$	38,540	$	37,023

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
March 31, 2018
Loan-to-Value Ratios^(b)
Less than 65%	$	17,506	$	2,121	$	349	$	19,976
65% to 75%		7,240		192		179		7,611
76% to 80%		943		-		-		943
Greater than 80%		885		211		73		1,169
Total commercial mortgages	$	26,574	$	2,524	$	601	$	29,699

December 31, 2017
Loan-to-Value Ratios^(b)
Less than 65%	$	18,000	$	1,525	$	351	$	19,876
65% to 75%		6,038		193		184		6,415
76% to 80%		569		40		-		609
Greater than 80%		1,416		206		74		1,696
Total commercial mortgages	$	26,023	$	1,964	$	609	$	28,596

Schedule of credit quality indicators for the commercial mortgage loans

	Number															Percent
	of	Class														of
(dollars in millions)	Loans	Apartments			Offices		Retail	Industrial			Hotel		Others		Total^(c)	Total $
March 31, 2018
Credit Quality Performance
Indicator:
In good standing	775	$	8,790	$	8,633	$	5,190	$	2,573	$	2,365	$	1,994	$	29,545	99	%
Restructured^(a)	5		-		115		23		-		16		-		154	1
90 days or less delinquent	-		-		-		-		-		-		-		-	-
>90 days delinquent or in
process of foreclosure	-		-		-		-		-		-		-		-	-
Total^(b)	780	$	8,790	$	8,748	$	5,213	$	2,573	$	2,381	$	1,994	$	29,699	100	%
Allowance for credit losses:
Specific		$	-	$	3	$	20	$	-	$	1	$	-	$	24	-	%
General			79		95		34		9		16		17		250	1
Total allowance for credit losses		$	79	$	98	$	54	$	9	$	17	$	17	$	274	1	%

December 31, 2017
Credit Quality Performance
Indicator:
In good standing	778	$	8,163	$	8,585	$	5,338	$	2,023	$	2,373	$	1,960	$	28,442	99	%
Restructured^(a)	5		-		115		23		-		16		-		154	1
90 days or less delinquent	-		-		-		-		-		-		-		-	-
>90 days delinquent or in
process of foreclosure	-		-		-		-		-		-		-		-	-
Total^(b)	783	$	8,163	$	8,700	$	5,361	$	2,023	$	2,389	$	1,960	$	28,596	100	%
Allowance for credit losses:
Specific		$	-	$	3	$	1	$	-	$	1	$	-	$	5	-	%
General			72		94		37		6		15		18		242	1
Total allowance for credit losses		$	72	$	97	$	38	$	6	$	16	$	18	$	247	1	%

(b) Does not reflect allowance for credit losses.

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

	2018						2017
Three Months Ended March 31,		Commercial		Other				Commercial		Other
(in millions)		Mortgages		Loans		Total		Mortgages		Loans		Total
Allowance, beginning of year	$	247	$	75	$	322	$	194	$	103	$	297
Loans charged off		-		-		-		-		-		-
Recoveries of loans previously charged off		-		-		-		-		-		-
Net charge-offs		-		-		-		-		-		-
Provision for loan losses		27		(2)		25		13		(21)		(8)
Other		-		-		-		-		-		-
Allowance, end of period	$	274 ^*	$	73	$	347	$	207 ^*	$	82	$	289

* Of the total allowance, $23 million and $7 million relate to individually assessed credit losses on $82 million and $266 million of commercial mortgages at March 31, 2018 and 2017, respectively.

VARIABLE INTEREST ENTITIES (Tables)

3 Months Ended

Mar. 31, 2018

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)		Affordable Housing Partnerships		Other		Total
March 31, 2018
Assets:
Bonds available for sale	$	-	$	8,484	$	-	$	-	$	8,484
Other bond securities		-		4,349		-		3		4,352
Mortgage and other loans receivable		-		2,759		-		-		2,759
Other invested assets		1,413		201		3,314		25		4,953
Other^(a)		308		1,492		309		84		2,193
Total assets^(b)	$	1,721	$	17,285	$	3,623	$	112	$	22,741
Liabilities:
Long-term debt	$	741	$	1,965	$	1,969	$	5	$	4,680
Other ^(c)		135		164		187		25		511
Total liabilities	$	876	$	2,129	$	2,156	$	30	$	5,191
December 31, 2017
Assets:
Bonds available for sale	$	-	$	9,632	$	-	$	-	$	9,632
Other bond securities		-		4,518		-		3		4,521
Mortgage and other loans receivable		-		2,290		-		-		2,290
Other invested assets		1,365		206		3,087		25		4,683
Other^(a)		302		1,481		350		85		2,218
Total assets^(b)	$	1,667	$	18,127	$	3,437	$	113	$	23,344
Liabilities:
Long-term debt	$	680	$	1,624	$	1,825	$	5	$	4,134
Other^(c)		144		244		181		26		595
Total liabilities	$	824	$	1,868	$	2,006	$	31	$	4,729

(a) Comprised primarily of Short-term investments and Other assets at March 31, 2018 and December 31, 2017.

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

(d) At March 31, 2018 and December 31, 2017, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $133 million and $86 million, respectively.

(e) At March 31, 2018 and December 31, 2017, $16.7 billion and $17.6 billion, respectively, of the total assets of consolidated securitization vehicles were owed to AIG Parent or its subsidiaries.

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
March 31, 2018
Real estate and investment entities^(a)	$	371,105	$	9,054	$	1,988		$	11,042
Affordable housing partnerships		4,146		669		-			669
Other		2,908		219		1,203	^(c)		1,422
Total	$	378,159	$	9,942	$	3,191		$	13,133
December 31, 2017
Real estate and investment entities^(a)	$	380,030	$	9,253	$	2,043		$	11,296
Affordable housing partnerships		4,468		725		-			725
Other		2,703		254		1,205	^(c)		1,459
Total	$	387,201	$	10,232	$	3,248		$	13,480

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

(b) At March 31, 2018 and December 31, 2017, $9.6 billion and $9.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets.

Notional amounts and fair values of derivative instruments

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)

3 Months Ended

Mar. 31, 2018

DERIVATIVES AND HEDGE ACCOUNTING

	March 31, 2018								December 31, 2017
	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	$	10	$	-	$	866	$	21	$	-	$	-	$	838	$	15
Foreign exchange contracts		3,236		122		4,511		350		2,823		173		4,783		350
Equity contracts		-		-		-		-		-		-		159		19
Derivatives not designated
as hedging instruments:^(a)
Interest rate contracts		42,688		2,549		26,505		2,182		37,751		2,171		26,461		2,185
Foreign exchange contracts		8,471		673		11,543		867		6,305		658		11,093		895
Equity contracts		15,465		268		4,261		13		19,975		522		1,130		2
Credit contracts^(b)		9		2		1,412		264		4		1		1,365		277
Other contracts^(c)		38,518		17		59		5		39,829		20		59		5
Total derivatives, gross	$	108,397	$	3,631	$	49,157	$	3,702	$	106,687	$	3,545	$	45,888	$	3,748
Counterparty netting^(d)				(1,589)				(1,589)				(1,464)				(1,464)
Cash collateral^(e)				(1,268)				(980)				(1,159)				(1,249)
Total derivatives on condensed
consolidated balance sheets^(f)			$	774			$	1,133			$	922			$	1,035

(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 March 31, 2018
Interest rate contracts:
Realized capital gains/(losses)	$	(8)	$	9	$	1	$	-	$	-
Foreign exchange contracts:
Realized capital gains/(losses)		(41)		8		-		(33)		-
Other income		-		-		-		-		-
Equity contracts:
Realized capital gains/(losses)		-		-		-		-		-
Three Months Ended March 31, 2017
Interest rate contracts:
Realized capital gains/(losses)	$	(1)	$	1	$	-	$	-	$	-
Foreign exchange contracts:
Realized capital gains/(losses)		52		(42)		-		10		-
Other income		-		1		-		-		1
Equity contracts
Realized capital gains/(losses)		(2)		-		-		(2)		-

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

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

	Gains (Losses)
Three Months Ended March 31,	Recognized in Earnings
(in millions)		2018		2017
By Derivative Type:
Interest rate contracts	$	(398)	$	(152)
Foreign exchange contracts		(139)		(46)
Equity contracts		(73)		(314)
Credit contracts		11		15
Other contracts		17		18
Embedded derivatives		591		146
Total	$	9	$	(333)
By Classification:
Policy fees	$	17	$	20
Net investment income		(4)		(2)
Net realized capital losses		(13)		(384)
Other income		12		33
Policyholder benefits and claims incurred		(3)		-
Total	$	9	$	(333)

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

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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41678-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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-Paragraph 4
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41620-113959

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

+ Details

INSURANCE LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2018

Claims Development [Line Items]

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

	Three Months Ended
	March 31,
(in millions)		2018		2017
Liability for unpaid loss and loss adjustment expenses, beginning of period	$	78,393	$	77,077
Reinsurance recoverable		(26,708)		(15,532)
Net Liability for unpaid loss and loss adjustment expenses, beginning of period		51,685		61,545
Losses and loss adjustment expenses incurred:
Current year		4,698		4,300
Prior years, excluding discount and amortization of deferred gain		(40)		63
Prior years, discount charge (benefit)		(205)		(25)
Prior years, amortization of deferred gain on retroactive reinsurance		(39)		(38)
Total losses and loss adjustment expenses incurred		4,414		4,300
Losses and loss adjustment expenses paid:
Current year		(610)		(571)
Prior years		(4,779)		(4,753)
Total losses and loss adjustment expenses paid		(5,389)		(5,324)
Other changes:
Foreign exchange effect		274		(105)
Retroactive reinsurance adjustment (net of discount)^(a)		(97)		(11,199)
Reclassified to liabilities held for sale^(b)		-		(87)
Total other changes		177		(11,391)
Liability for unpaid loss and loss adjustment expenses, end of period:
Net liability for unpaid losses and loss adjustment expenses		50,887		49,130
Reinsurance recoverable		27,211		26,920
Total	$	78,098	$	76,050

(a) Includes discount on retroactive reinsurance in the amount of $128 million and $1.7 billion for the three-month periods ended March 31, 2018 and 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:

	March 31, 2018						December 31, 2017
	North		Legacy Portfolio				North		Legacy Portfolio
	America		- General				America		- General
	Commercial		Insurance run-off				Commercial		Insurance run-off
(in millions)	Insurance		Insurance Lines			Total	Insurance		Insurance Lines			Total
U.S. workers' compensation	$	2,652	$	936	$	3,588	$	2,465	$	918	$	3,383
Retroactive reinsurance		(1,667)		-		(1,667)		(1,539)		-		(1,539)
Total reserve discount^*	$	985	$	936	$	1,921	$	926	$	918	$	1,844

* Excludes $177 million and $173 million of discount related to certain long tail liabilities in the United Kingdom at March 31, 2018 and December 31, 2017, respectively.

The following tables presents the net loss reserve discount benefit (charge):

Three Months Ended March 31,	2018						2017
	North		Legacy Portfolio				North		Legacy Portfolio
	America		- General				America		- General
	Commercial		Insurance run-off				Commercial		Insurance run-off
(in millions)	Insurance		Insurance Lines			Total	Insurance		Insurance Lines			Total
Current accident year	$	19	$	-	$	19	$	32	$	-	$	32
Accretion and other adjustments
to prior year discount		45		(18)		27		(48)		(16)		(64)
Effect of interest rate changes		123		36		159		39		18		57
Net reserve discount
benefit (charge)		187		18		205		23		2		25
Change in discount on loss reserves
ceded under retroactive reinsurance		(128)		-		(128)		(1,655)		-		(1,655)
Net change in total reserve
discount^(a)	$	59	$	18	$	77	$	(1,632)	$	2	$	(1,630)

(a) Excludes $(5) million and $(1) million of discount related to certain long tail liabilities in the United Kingdom for the three-month periods ended March 31, 2018 and 2017, respectively.

EQUITY (Tables)

3 Months Ended

Mar. 31, 2018

EQUITY

Rollforward of common stock outstanding

Three Months Ended March 31, 2018	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Shares, beginning of year	1,906,671,492	(1,007,626,835)	899,044,657
Shares issued	-	4,021,554	4,021,554
Shares repurchased	-	(5,384,703)	(5,384,703)
Shares, end of period	1,906,671,492	(1,008,989,984)	897,681,508

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
March 15, 2018	March 29, 2018	0.32
March 15, 2017	March 29, 2017	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:

Three Months Ended March 31,
(in millions)		2018		2017
Aggregate repurchases of common stock	$	298	$	3,585
Total number of common shares repurchased		5		56
Aggregate repurchases of warrants	$	2	$	-
Total number of warrants repurchased^*		-		-

* For the three-month period ended March 31, 2018, we repurchased 97,553 warrants to purchase shares of AIG Common Stock.

Accumulated Other Comprehensive Income (Loss)

		Unrealized Appreciation								Fair Value of
		(Depreciation) of Fixed		Unrealized						Liabilities Under
		Maturity Securities on		Appreciation		Foreign		Retirement		Fair Value Option
		Which Other-Than-		(Depreciation)		Currency		Plan		Attributable to
		Temporary Credit		of All Other		Translation		Liabilities		Changes in
(in millions)		Impairments Were Taken		Investments		Adjustments		Adjustment		Own Credit Risk		Total
Balance, December 31, 2017, net of tax	$	793	$	7,693	$	(2,090)	$	(931)	$	-	$	5,465
Cumulative effect of change in
accounting principles		169		(285)		(284)		(183)		7		(576)
Change in unrealized depreciation of investments		(240)		(4,754)		-		-		-		(4,994)
Change in deferred policy acquisition costs
adjustment and other		30		634		-		-		-		664
Change in future policy benefits		-		741		-		-		-		741
Change in foreign currency translation adjustments		-		-		172		-		-		172
Change in net actuarial loss		-		-		-		16		-		16
Change in prior service credit		-		-		-		(4)		-		(4)
Change in deferred tax asset (liability)		60		671		(14)		17		-		734
Change in fair value of liabilities under fair value
option attributable to changes in own credit risk		-		-		-		-		2		2
Total other comprehensive income (loss)		(150)		(2,708)		158		29		2		(2,669)
Noncontrolling interests		-		-		-		-		-		-
Balance, March 31, 2018, net of tax	$	812	$	4,700	$	(2,216)	$	(1,085)	$	9	$	2,220

Balance, December 31, 2016, net of tax	$	426	$	6,405	$	(2,629)	$	(972)	$	-	$	3,230
Change in unrealized appreciation of investments		143		690		-		-		-		833
Change in deferred policy acquisition costs
adjustment and other^*		32		38		-		-		-		70
Change in future policy benefits		-		(86)		-		-		-		(86)
Change in foreign currency translation adjustments		-		-		(304)		-		-		(304)
Change in net actuarial loss		-		-		-		25		-		25
Change in prior service cost		-		-		-		3		-		3
Change in deferred tax asset (liability)		(61)		53		28		(10)		-		10
Total other comprehensive income (loss)		114		695		(276)		18		-		551
Noncontrolling interests		-		-		-		-		-		-
Balance, March 31, 2017, net of tax	$	540	$	7,100	$	(2,905)	$	(954)	$	-	$	3,781

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

Other comprehensive income (loss) reclassification adjustments

		Unrealized Appreciation
		(Depreciation) of Fixed								Fair Value of
		Maturity Investments		Unrealized						Liabilities Under
		on Which Other-Than-		Appreciation		Foreign		Retirement		Fair Value Option
		Temporary Credit		(Depreciation)		Currency		Plan		Attributable to
		Impairments Were		of All Other		Translation		Liabilities		Changes in
(in millions)		Recognized		Investments		Adjustments		Adjustment		Own Credit Risk		Total
March 31, 2018
Unrealized change arising during period	$	(208)	$	(3,386)	$	172	$	3	$	2	$	(3,417)
Less: Reclassification adjustments
included in net income		2		(7)		-		(9)		-		(14)
Total other comprehensive income (loss),
before income tax expense (benefit)		(210)		(3,379)		172		12		2		(3,403)
Less: Income tax expense (benefit)		(60)		(671)		14		(17)		-		(734)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(150)	$	(2,708)	$	158	$	29	$	2	$	(2,669)

March 31, 2017
Unrealized change arising during period	$	190	$	835	$	(304)	$	18	$	-	$	739
Less: Reclassification adjustments
included in net income		15		193		-		(10)		-		198
Total other comprehensive income (loss),
before income tax expense (benefit)		175		642		(304)		28		-		541
Less: Income tax expense (benefit)		61		(53)		(28)		10		-		(10)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	114	$	695	$	(276)	$	18	$	-	$	551

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

	Amount Reclassified
	from Accumulated Other
	Comprehensive Income
	Three Months Ended March 31,					Affected Line Item in the
(in millions)			2018		2017	Condensed Consolidated Statements of Income
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were taken

Investments		$	2	$	15	Other realized capital gains
Total			2		15
Unrealized appreciation (depreciation) of
all other investments
Investments			24		140	Other realized capital gains
Deferred acquisition costs adjustment			(31)		53	Amortization of deferred policy acquisition costs
Future policy benefits			-		-	Policyholder benefits and losses incurred
Total			(7)		193
Change in retirement plan liabilities adjustment
Prior-service credit			-		-	*
Actuarial losses			(9)		(10)	*
Total			(9)		(10)
Total reclassifications for the period		$	(14)	$	198

* These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 13 to the Condensed Consolidated Financial Statements.

Computation of basic and diluted EPS

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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+ Details

EARNINGS PER SHARE (EPS) (Tables)

3 Months Ended

Mar. 31, 2018

EARNINGS PER SHARE (EPS)

Three Months Ended March 31,
(dollars in millions, except per share data)		2018		2017
Numerator for EPS:
Income from continuing operations	$	950	$	1,211
Less: Net income from continuing operations attributable to noncontrolling interests		11		26
Income attributable to AIG common shareholders from continuing operations		939		1,185
Income (loss) from discontinued operations, net of income tax expense		(1)		-
Net income attributable to AIG common shareholders	$	938	$	1,185
Denominator for EPS:
Weighted average shares outstanding — basic		907,951,597		980,777,243
Dilutive shares		17,314,980		24,537,787
Weighted average shares outstanding — diluted^(a)		925,266,577		1,005,315,030
Income per common share attributable to AIG:
Basic:
Income from continuing operations	$	1.03	$	1.21
Income from discontinued operations	$	-	$	-
Net income attributable to AIG	$	1.03	$	1.21
Diluted:
Income from continuing operations	$	1.01	$	1.18
Income (loss) from discontinued operations	$	-	$	-
Net income attributable to AIG	$	1.01	$	1.18

EMPLOYEE BENEFITS (Tables)

3 Months Ended

Mar. 31, 2018

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 March 31, 2018
Components of net periodic benefit cost:
Service cost	$	2	$	6	$	8	$	-	$	-	$	-
Interest cost		41		4		45		2		-		2
Expected return on assets		(71)		(7)		(78)		-		-		-
Amortization of prior service cost		-		1		1		-		-		-
Amortization of net loss		7		2		9		-		-		-
Net periodic benefit cost (credit)	$	(21)	$	6	$	(15)	$	2	$	-	$	2
Three Months Ended March 31, 2017
Components of net periodic benefit cost:
Service cost	$	6	$	8	$	14	$	-	$	1	$	1
Interest cost		43		4		47		2		1		3
Expected return on assets		(64)		(6)		(70)		-		-		-
Amortization of prior service cost		-		-		-		-		-		-
Amortization of net loss		7		3		10		-		-		-
Net periodic benefit cost (credit)	$	(8)	$	9	$	1	$	2	$	2	$	4

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)

3 Months Ended

Mar. 31, 2018

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

Condensed Consolidating Balance Sheets

		American
		International					Reclassifications
		Group, Inc.				Other		and	Consolidated
(in millions)	(As Guarantor)			AIGLH		Subsidiaries		Eliminations		AIG
March 31, 2018
Assets:
Short-term investments^(a)	$	6,031	$	-	$	11,764	$	(3,179)	$	14,616
Other investments^(b)		4,814		-		302,945		-		307,759
Total investments		10,845		-		314,709		(3,179)		322,375
Cash		4		5		2,094		-		2,103
Loans to subsidiaries^(c)		34,747		-		579		(35,326)		-
Investment in consolidated subsidiaries^(c)		37,224		28,741		-		(65,965)		-
Other assets, including deferred income taxes^(d)		15,932		166		160,755		(2,188)		174,665
Total assets	$	98,752	$	28,912	$	478,137	$	(106,658)	$	499,143
Liabilities:
Insurance liabilities	$	-	$	-	$	284,657	$	-	$	284,657
Long-term debt		23,038		642		9,939		-		33,619
Other liabilities, including intercompany balances^(b)		12,343		133		110,443		(5,409)		117,510
Loans from subsidiaries^(c)		579		-		34,749		(35,328)		-
Total liabilities		35,960		775		439,788		(40,737)		435,786
Total AIG shareholders’ equity		62,792		28,137		37,784		(65,921)		62,792
Non-redeemable noncontrolling interests		-		-		565		-		565
Total equity		62,792		28,137		38,349		(65,921)		63,357
Total liabilities and equity	$	98,752	$	28,912	$	478,137	$	(106,658)	$	499,143

December 31, 2017
Assets:
Short-term investments^(a)	$	2,541	$	-	$	11,559	$	(3,714)	$	10,386
Other investments^(b)		6,004		-		305,902		-		311,906
Total investments		8,545		-		317,461		(3,714)		322,292
Cash		3		20		2,339		-		2,362
Loans to subsidiaries^(c)		35,004		-		517		(35,521)		-
Investment in consolidated subsidiaries^(c)		40,135		30,359		-		(70,494)		-
Other assets, including deferred income taxes^(d)		16,016		170		159,594		(2,133)		173,647
Total assets	$	99,703	$	30,549	$	479,911	$	(111,862)	$	498,301
Liabilities:
Insurance liabilities	$	-	$	-	$	282,105	$	-	$	282,105
Long-term debt		21,557		642		9,441		-		31,640
Other liabilities, including intercompany balances^(b)		12,458		143		112,275		(6,028)		118,848
Loans from subsidiaries^(c)		517		-		35,004		(35,521)		-
Total liabilities		34,532		785		438,825		(41,549)		432,593
Total AIG shareholders’ equity		65,171		29,764		40,549		(70,313)		65,171
Non-redeemable noncontrolling interests		-		-		537		-		537
Total equity		65,171		29,764		41,086		(70,313)		65,708
Total liabilities and equity	$	99,703	$	30,549	$	479,911	$	(111,862)	$	498,301

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

Condensed Consolidating Statements of Income (Loss)


		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended March 31, 2018
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,033	$	722	$	-	$	(1,755)	$	-
Other income		258		-		11,512		(58)		11,712
Total revenues		1,291		722		11,512		(1,813)		11,712
Expenses:
Interest expense		220		12		48		(3)		277
Gain on extinguishment of debt		-		-		4		-		4
Other expenses		152		1		10,106		(55)		10,204
Total expenses		372		13		10,158		(58)		10,485
Income (loss) from continuing operations before income tax
expense (benefit)		919		709		1,354		(1,755)		1,227
Income tax expense (benefit)		(19)		3		293		-		277
Income (loss) from continuing operations		938		706		1,061		(1,755)		950
Loss from discontinued operations, net of income taxes		-		-		(1)		-		(1)
Net income (loss)		938		706		1,060		(1,755)		949
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests		-		-		11		-		11
Net income (loss) attributable to AIG	$	938	$	706	$	1,049	$	(1,755)	$	938
Three Months Ended March 31, 2017
Revenues:
Equity in earnings of consolidated subsidiaries^*	$	1,462	$	600	$	-	$	(2,062)	$	-
Other income		196		-		12,382		54		12,632
Total revenues		1,658		600		12,382		(2,008)		12,632
Expenses:
Interest expense		242		12		46		(2)		298
Loss on extinguishment of debt		-		-		(1)		-		(1)
Other expenses		335		1		10,325		(53)		10,608
Total expenses		577		13		10,370		(55)		10,905
Income (loss) from continuing operations before income tax
expense (benefit)		1,081		587		2,012		(1,953)		1,727
Income tax expense (benefit)		(104)		(4)		624		-		516
Income (loss) from continuing operations		1,185		591		1,388		(1,953)		1,211
Net income (loss)		1,185		591		1,388		(1,953)		1,211
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests		-		-		26		-		26
Net income (loss) attributable to AIG	$	1,185	$	591	$	1,362	$	(1,953)	$	1,185

* Eliminated in consolidation.

Condensed Consolidating Statements of Comprehensive Income (Loss)

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended March 31, 2018
Net income (loss)	$	938	$	706	$	1,060	$	(1,755)	$	949
Other comprehensive income (loss)		(2,669)		4,950		14,655		(19,605)		(2,669)
Comprehensive income (loss)		(1,731)		5,656		15,715		(21,360)		(1,720)
Total comprehensive income attributable to noncontrolling interests		-		-		11		-		11
Comprehensive income (loss) attributable to AIG	$	(1,731)	$	5,656	$	15,704	$	(21,360)	$	(1,731)
Three Months Ended March 31, 2017
Net income (loss)	$	1,185	$	591	$	1,388	$	(1,953)	$	1,211
Other comprehensive income (loss)		551		4,660		51,030		(55,690)		551
Comprehensive income (loss)		1,736		5,251		52,418		(57,643)		1,762
Total comprehensive income attributable to noncontrolling interests		-		-		26		-		26
Comprehensive income (loss) attributable to AIG	$	1,736	$	5,251	$	52,392	$	(57,643)	$	1,736

Condensed Consolidating Statements of Cash Flows

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
Three Months Ended March 31, 2018
Net cash (used in) provided by operating activities	$	9	$	362	$	(501)	$	(808)	$	(938)
Cash flows from investing activities:
Sales of investments		1,322		-		15,830		(2,681)		14,471
Sales of divested businesses, net		-		-		6		-		6
Purchase of investments		(39)		-		(15,405)		2,681		(12,763)
Loans to subsidiaries - net		422		-		(60)		(362)		-
Contributions from (to) subsidiaries - net		153		-		-		(153)		-
Net change in short-term investments		(2,460)		-		(580)		-		(3,040)
Other, net		(79)		-		(567)		-		(646)
Net cash (used in) investing activities		(681)		-		(776)		(515)		(1,972)
Cash flows from financing activities:
Issuance of long-term debt		2,472		-		567		-		3,039
Repayments of long-term debt		(1,107)		-		(220)		-		(1,327)
Purchase of common stock		(298)		-		-		-		(298)
Intercompany loans - net		60		-		(422)		362		-
Cash dividends paid		(289)		(377)		(431)		808		(289)
Other, net		(154)		-		1,362		153		1,361
Net cash (used in) provided by financing activities		684		(377)		856		1,323		2,486
Effect of exchange rate changes on cash and restricted cash		-		-		58		-		58
Change in cash and restricted cash		12		(15)		(363)		-		(366)
Cash and restricted cash at beginning of year		8		20		2,709		-		2,737
Cash and restricted cash at end of period	$	20	$	5	$	2,346	$	-	$	2,371

Three Months Ended March 31, 2017
Net cash (used in) provided by operating activities	$	651	$	(23)	$	(10,915)	$	(49)	$	(10,336)
Cash flows from investing activities:
Sales of investments		2,699		-		26,482		(2,482)		26,699
Sales of divested businesses, net		-		-		24		-		24
Purchase of investments		(890)		-		(14,769)		2,482		(13,177)
Loans to subsidiaries - net		(56)		-		183		(127)		-
Contributions from (to) subsidiaries - net		206		-		-		(206)		-
Net change in short-term investments		1,477		-		(227)		-		1,250
Other, net		(5)		-		(292)		-		(297)
Net cash (used in) provided by investing activities		3,431		-		11,401		(333)		14,499
Cash flows from financing activities:
Issuance of long-term debt		-		-		151		-		151
Repayments of long-term debt		-		-		(602)		-		(602)
Purchase of common stock		(3,585)		-		-		-		(3,585)
Intercompany loans - net		(183)		-		56		127		-
Cash dividends paid		(307)		-		(49)		49		(307)
Other, net		-		-		89		206		295
Net cash (used in) provided by financing activities		(4,075)		-		(355)		382		(4,048)
Effect of exchange rate changes on cash and restricted cash		-		-		(82)		-		(82)
Change in cash and restricted cash		7		(23)		49		-		33
Cash and restricted cash at beginning of year		3		34		2,070		-		2,107
Change in cash of businesses held for sale		-		-		52		-		52
Cash and restricted cash at end of period	$	10	$	11	$	2,171	$	-	$	2,192

Supplementary Disclosure of Condensed Consolidating Cash Flow Information

		American
		International						Reclassifications
		Group, Inc.				Other		and		Consolidated
(in millions)		(As Guarantor)		AIGLH		Subsidiaries		Eliminations		AIG
March 31, 2018
Cash	$	4	$	5	$	2,094	$	-	$	2,103
Restricted cash included in Short-term investments		15		-		32		-		47
Restricted cash included in Other assets		1		-		220		-		221
Total cash and restricted cash shown in
the Condensed Consolidating Statements of Cash Flows	$	20	$	5	$	2,346	$	-	$	2,371

Cash (paid) received during the 2018 period for:
Interest:
Third party	$	(260)	$	-	$	(97)	$	-	$	(357)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(9)	$	-	$	(19)	$	-	$	(28)
Intercompany		403		-		(403)		-		-

March 31, 2017
Cash	$	2	$	11	$	1,905	$	-	$	1,918
Restricted cash included in Short-term investments		7		-		54		-		61
Restricted cash included in Other assets		1		-		212		-		213
Total cash and restricted cash shown in
the Condensed Consolidating Statements of Cash Flows	$	10	$	11	$	2,171	$	-	$	2,192

Cash (paid) received during the 2017 period for:
Interest:
Third party	$	(288)	$	(23)	$	(43)	$	-	$	(354)
Intercompany		-		-		-		-		-
Taxes:
Income tax authorities	$	(14)	$	-	$	(54)	$	-	$	(68)
Intercompany		1,090		-		(1,090)		-		-

Supplementary disclosure of non-cash activities

Three Months Ended March 31,
(in millions)		2018		2017
Intercompany non-cash financing and investing activities:
Capital contributions	$	2,339	$	198
Dividends received in the form of securities		60		150
Return of capital		2,706		-

BASIS OF PRESENTATION (Details)	Mar. 31, 2018 item $ / shares	Dec. 31, 2017 $ / shares
Basis of Presentation [Line Items]
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 2.5	$ 2.5
Minimum
Basis of Presentation [Line Items]
Number of Countries in which Entity Operates \| item	80

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Other significant accounting policies) $ in Millions	Mar. 31, 2018 USD ($)
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	$ (8)
Accumulated Other Comprehensive Income
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	(576)
Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	568
Accounting Standards Update - Recognition and Measurement of Financial Assets and Financial Liabilities \| Accumulated Other Comprehensive Income
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	(824)
Accounting Standards Update - Recognition and Measurement of Financial Assets and Financial Liabilities \| Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	824
Accounting Standards Update - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income \| Accumulated Other Comprehensive Income
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	248
Accounting Standards Update - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income \| Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Cumulative effect of change in accounting principle	$ (248)

SEGMENT INFORMATION (Details - Continuing operations by reportable segment) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment results
Total Revenues	$ 11,712	$ 12,632
Adjusted pre-tax income (loss)	1,227	1,727
AIG Consolidation and Eliminations
Segment results
Total Revenues	(62)	(64)
Adjusted pre-tax income (loss)	11	48
Total AIG Consolidated adjusted revenues and adjusted pre-tax income (loss)
Segment results
Total Revenues	11,828	12,735
Adjusted pre-tax income (loss)	1,216	2,041
General Insurance \| Reportable Segments
Segment results
Total Revenues	7,444	7,538
Adjusted pre-tax income (loss)	510	1,061
General Insurance \| Reportable Segments \| North America
Segment results
Total Revenues	3,340	3,840
Adjusted pre-tax income (loss)	320	828
General Insurance \| Reportable Segments \| International
Segment results
Total Revenues	4,104	3,698
Adjusted pre-tax income (loss)	190	233
Life and Retirement \| Reportable Segments
Segment results
Total Revenues	3,460	3,703
Adjusted pre-tax income (loss)	892	898
Life and Retirement \| Reportable Segments \| Individual Retirement
Segment results
Total Revenues	1,361	1,373
Adjusted pre-tax income (loss)	499	539
Life and Retirement \| Reportable Segments \| Group Retirement
Segment results
Total Revenues	761	718
Adjusted pre-tax income (loss)	282	243
Life and Retirement \| Reportable Segments \| Life insurance
Segment results
Total Revenues	1,061	1,013
Adjusted pre-tax income (loss)	52	54
Life and Retirement \| Reportable Segments \| Institutional Markets
Segment results
Total Revenues	277	599
Adjusted pre-tax income (loss)	59	62
Other Operations
Segment results
Total Revenues	150	474
Adjusted pre-tax income (loss)	(342)	(308)
Legacy Portfolio
Segment results
Total Revenues	836	1,084
Adjusted pre-tax income (loss)	$ 145	$ 342

SEGMENT INFORMATION (Details - Continuing operations by reportable segment - Pretax operating income to pre-tax income)) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reconciling items from Adjusted revenues and Adjusted pre-tax income (loss) to revenues and pre-tax income (loss):
Gain (Loss) on extinguishment of debt	$ (4)	$ 1
Income (loss) from divested businesses	8	(100)
Net reserve discount (benefit) charge	205	25
Adjusted pre-tax income (loss)	1,227	1,727
Reconciling items from pre-tax operating income to pre-tax income \| Total Revenues
Reconciling items from Adjusted revenues and Adjusted pre-tax income (loss) to revenues and pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed living benefits	(77)	11
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	0	0
Other income (expense) - net	(11)	(9)
Gain (Loss) on extinguishment of debt	0	0
Net realized capital gains (losses)	(29)	(115)
Income (loss) from divested businesses	0	0
Non-operating litigation reserves and settlements	1	10
Prior Year Development And Change In Amortization Of Deferred Gain On Retroactive Reinsurance	0	0
Net reserve discount (benefit) charge	0	0
Restructuring and other costs	0	0
Reconciling items from pre-tax operating income to pre-tax income \| Adjusted Pre-Tax Income (loss)
Reconciling items from Adjusted revenues and Adjusted pre-tax income (loss) to revenues and pre-tax income (loss):
Changes in fair values of securities used to hedge guaranteed living benefits	(77)	11
Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains	(31)	53
Other income (expense) - net	0	0
Gain (Loss) on extinguishment of debt	(4)	1
Net realized capital gains (losses)	(19)	(115)
Income (loss) from divested businesses	8	(100)
Non-operating litigation reserves and settlements	(13)	6
Prior Year Development And Change In Amortization Of Deferred Gain On Retroactive Reinsurance	(34)	(14)
Net reserve discount (benefit) charge	205	25
Restructuring and other costs	$ (24)	$ (181)

FAIR VALUE MEASUREMENTS (Details - Assets and Liabilities Measured at Fair Value on a Recurring Basis) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Sep. 30, 2017
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		$ 233,914		$ 238,992
Other bond securities		12,397		12,772
Equity securities available for sale		0		1,708
Other equity securities		1,725		589
Other invested assets		6,232		6,248
Derivative Assets, Fair Value		3,631		3,545
Derivative assets, Counterparty netting		(1,589)		(1,464)
Derivative assets, Cash collateral		(1,268)		(1,159)
Short-term investments, portion measured at fair value		3,094		2,615
Separate account assets, at fair value		90,589		92,798
Other assets		774		922
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		3,711		4,150
Other policyholder funds		3,473		3,648
Derivative Liabilities, Fair Value		3,702		3,748
Derivative liabilities, Counterparty netting		(1,589)		(1,464)
Derivative liabilities, Cash collateral		(980)		(1,249)
Long-term debt, portion measured at fair value		2,820		2,888
Other liabilities		1,158		1,124
Fair Value Option
Fair Value, Liabilities Measured on Recurring Basis
Long-term debt, portion measured at fair value		2,820		2,888
U.S. government and government sponsored entities
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2		191	$ 63
Non-U.S. governments
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2		16	$ 53
Preferred Stock
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 1 to Level 2	$ 0	0
Recurring Basis
Fair Value, Liabilities Measured on Recurring Basis
Assets transferred from Level 2 to Level 1		0			$ 0
Recurring Basis \| Fair Value Option
Fair Value, Assets Measured on Recurring Basis
Other invested assets		5,900		6,000
Recurring Basis \| Level 1
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		25		221
Other bond securities		594		238
Equity securities available for sale		0		1,189
Other equity securities		1,716		589
Other invested assets		5		0
Derivative Assets, Fair Value		48		189
Short-term investments, portion measured at fair value		2,611		2,078
Separate account assets, at fair value		85,362		87,141
Fair value assets measured on recurring basis, total		90,361		91,645
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		0		0
Derivative Liabilities, Fair Value		1		4
Long-term debt, portion measured at fair value		0		0
Other liabilities		25		46
Fair value liabilities measured on recurring basis, total		26		50
Recurring Basis \| Level 1 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		1
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		1		2
Recurring Basis \| Level 1 \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		0
Recurring Basis \| Level 1 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		48		188
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		2
Recurring Basis \| Level 1 \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		0
Recurring Basis \| Level 1 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		0
Recurring Basis \| Level 1 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		201
Other bond securities		594		238
Recurring Basis \| Level 1 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		0
Recurring Basis \| Level 1 \| Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		25		20
Other bond securities		0		0
Recurring Basis \| Level 1 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		0
Other bond securities		0		0
Recurring Basis \| Level 1 \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		0
Other bond securities		0		0
Recurring Basis \| Level 1 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		0
Other bond securities		0		0
Recurring Basis \| Level 1 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		0		0
Other bond securities		0		0
Recurring Basis \| Level 1 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		1,061
Recurring Basis \| Level 1 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		18
Recurring Basis \| Level 1 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		110
Recurring Basis \| Level 2
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		205,479		209,775
Other bond securities		5,508		6,022
Equity securities available for sale		0		519
Other equity securities		6		0
Other invested assets		1		1
Derivative Assets, Fair Value		3,483		3,249
Short-term investments, portion measured at fair value		483		537
Separate account assets, at fair value		5,227		5,657
Fair value assets measured on recurring basis, total		220,187		225,760
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		15		14
Derivative Liabilities, Fair Value		3,423		3,450
Long-term debt, portion measured at fair value		2,820		2,888
Other liabilities		0		43
Fair value liabilities measured on recurring basis, total		6,258		6,395
Recurring Basis \| Level 2 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		2,549		2,170
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		2,185		2,176
Recurring Basis \| Level 2 \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		792		827
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		1,213		1,241
Recurring Basis \| Level 2 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		142		252
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		13		19
Recurring Basis \| Level 2 \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		12		14
Recurring Basis \| Level 2 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		0
Recurring Basis \| Level 2 \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		2,833		2,455
Other bond securities		2,183		2,564
Recurring Basis \| Level 2 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		15,550		16,240
Recurring Basis \| Level 2 \| Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		15,689		15,631
Other bond securities		54		57
Recurring Basis \| Level 2 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		129,468		133,003
Other bond securities		1,784		1,891
Recurring Basis \| Level 2 \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		20,050		21,098
Other bond securities		391		421
Recurring Basis \| Level 2 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		13,025		13,217
Other bond securities		493		485
Recurring Basis \| Level 2 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		8,864		8,131
Other bond securities		603		604
Recurring Basis \| Level 2 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		0
Recurring Basis \| Level 2 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		515
Recurring Basis \| Level 2 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		4
Recurring Basis \| Level 3
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		28,410		28,996
Other bond securities		6,295		6,512
Equity securities available for sale		0		0
Other equity securities		3		0
Mortgage and other loans receivable				5
Other invested assets		292		250
Derivative Assets, Fair Value		100		107
Short-term investments, portion measured at fair value		0		0
Separate account assets, at fair value		0
Fair value assets measured on recurring basis, total		35,100		35,870
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		3,696		4,136
Derivative Liabilities, Fair Value		278		294
Long-term debt, portion measured at fair value		0		0
Other liabilities		0		0
Fair value liabilities measured on recurring basis, total		3,974		4,430
Recurring Basis \| Level 3 \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		0		0
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		17		22
Recurring Basis \| Level 3 \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		3		4
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		4		4
Recurring Basis \| Level 3 \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		78		82
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		0		0
Recurring Basis \| Level 3 \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		2		1
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		252		263
Recurring Basis \| Level 3 \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		17		20
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		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
Other bond securities		0		0
Recurring Basis \| Level 3 \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		2,261		2,404
Recurring Basis \| Level 3 \| Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		9		8
Other bond securities		0		0
Recurring Basis \| Level 3 \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		1,871		1,173
Other bond securities		19		18
Recurring Basis \| Level 3 \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		15,839		16,136
Other bond securities		1,427		1,464
Recurring Basis \| Level 3 \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		584		624
Other bond securities		73		74
Recurring Basis \| Level 3 \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		7,846		8,651
Other bond securities		4,776		4,956
Recurring Basis \| Level 3 \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		0
Recurring Basis \| Level 3 \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		0
Recurring Basis \| Level 3 \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		0
Recurring Basis \| Counterparty Netting
Fair Value, Assets Measured on Recurring Basis
Other bond securities		0
Equity securities available for sale		0
Other equity securities		0
Other invested assets		0
Derivative assets, Counterparty netting		(1,589)		(1,464)
Separate account assets, at fair value		0
Fair value assets measured on recurring basis, total		(1,589)		(1,464)
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		0
Derivative liabilities, Counterparty netting		(1,589)		(1,464)
Long-term debt, portion measured at fair value		0
Other liabilities		0
Fair value liabilities measured on recurring basis, total		(1,589)		(1,464)
Recurring Basis \| Counterparty Netting \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Counterparty netting		(1,589)		(1,464)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Counterparty netting		(1,589)		(1,464)
Recurring Basis \| Cash Collateral
Fair Value, Assets Measured on Recurring Basis
Other bond securities		0
Equity securities available for sale		0
Other equity securities		0
Other invested assets		0
Derivative assets, Cash collateral		(1,268)		(1,159)
Separate account assets, at fair value		0
Fair value assets measured on recurring basis, total		(1,268)		(1,159)
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		0
Derivative liabilities, Cash collateral		(980)		(1,249)
Long-term debt, portion measured at fair value		0
Other liabilities		0
Fair value liabilities measured on recurring basis, total		(980)		(1,249)
Recurring Basis \| Cash Collateral \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative assets, Cash collateral		(1,268)		(1,159)
Fair Value, Liabilities Measured on Recurring Basis
Derivative liabilities, Cash collateral		(980)		(1,249)
Recurring Basis \| Total Fair Value
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		233,914		238,992
Other bond securities		12,397		12,772
Equity securities available for sale		0		1,708
Other equity securities		1,725		589
Mortgage and other loans receivable				5
Other invested assets		298		251
Derivative Assets, Fair Value		774		922
Short-term investments, portion measured at fair value		3,094		2,615
Separate account assets, at fair value		90,589		92,798
Fair value assets measured on recurring basis, total		342,791		350,652
Fair Value, Liabilities Measured on Recurring Basis
Policyholder contract deposits, portion measured at fair value		3,711		4,150
Derivative Liabilities, Fair Value		1,133		1,035
Long-term debt, portion measured at fair value		2,820		2,888
Other liabilities		25		89
Fair value liabilities measured on recurring basis, total		7,689		8,162
Recurring Basis \| Total Fair Value \| Interest rate contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		2,549		2,171
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		2,203		2,200
Recurring Basis \| Total Fair Value \| Foreign exchange contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		795		831
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		1,217		1,245
Recurring Basis \| Total Fair Value \| Equity contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		268		522
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		13		21
Recurring Basis \| Total Fair Value \| Credit contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		2		1
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		264		277
Recurring Basis \| Total Fair Value \| Other contracts
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		17		20
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		5		5
Recurring Basis \| Total Fair Value \| Counterparty netting and cash collateral
Fair Value, Assets Measured on Recurring Basis
Derivative Assets, Fair Value		(2,857)		(2,623)
Fair Value, Liabilities Measured on Recurring Basis
Derivative Liabilities, Fair Value		(2,569)		(2,713)
Recurring Basis \| Total Fair Value \| U.S. government and government sponsored entities
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		2,833		2,656
Other bond securities		2,777		2,802
Recurring Basis \| Total Fair Value \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		17,811		18,644
Recurring Basis \| Total Fair Value \| Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		15,723		15,659
Other bond securities		54		57
Recurring Basis \| Total Fair Value \| Corporate debt
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		131,339		134,176
Other bond securities		1,803		1,909
Recurring Basis \| Total Fair Value \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		35,889		37,234
Other bond securities		1,818		1,885
Recurring Basis \| Total Fair Value \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		13,609		13,841
Other bond securities		566		559
Recurring Basis \| Total Fair Value \| Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Fair Value, Assets Measured on Recurring Basis
Bonds available for sale		16,710		16,782
Other bond securities		5,379		5,560
Recurring Basis \| Total Fair Value \| Common Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		1,061
Recurring Basis \| Total Fair Value \| Preferred Stock
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		0		533
Recurring Basis \| Total Fair Value \| Mutual Funds
Fair Value, Assets Measured on Recurring Basis
Equity securities available for sale		$ 0		$ 114

FAIR VALUE MEASUREMENTS (Details - Gross components of purchases, sales, issues and settlements) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, Sales, Issues and Settlements, Net, assets		$ (1,410)		$ (1,820)
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	$ 0	(24)	$ 0	(8)
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.	$ 0	0	$ 0	1
Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities		(7)		0
Sales, liabilities		112		70
Settlements, liabilities		(12)		8
Purchases, Sales, Issues and Settlements, Net, liabilities		93		78
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities		0		0
Sales, liabilities		112		70
Settlements, liabilities		(46)		14
Purchases, Sales, Issues and Settlements, Net, liabilities		66		84
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities		(7)		0
Sales, liabilities		0		0
Settlements, liabilities		34		19
Purchases, Sales, Issues and Settlements, Net, liabilities		27		19
Long-term debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, liabilities		0		0
Sales, liabilities		0		0
Settlements, liabilities		0		(25)
Purchases, Sales, Issues and Settlements, Net, liabilities		0		(25)
Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		1,037		535
Sales, assets		(873)		(495)
Settlements, assets		(1,574)		(1,860)
Purchases, Sales, Issues and Settlements, Net, assets		(1,410)		(1,820)
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		1,011		428
Sales, assets		(859)		(317)
Settlements, assets		(1,241)		(1,412)
Purchases, Sales, Issues and Settlements, Net, assets		(1,089)		(1,301)
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		15		37
Sales, assets		0		(5)
Settlements, assets		(84)		(11)
Purchases, Sales, Issues and Settlements, Net, assets		(69)		21
Bonds available for sale \| Non-U.S. governments
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		2		0
Sales, assets		0		(1)
Settlements, assets		(1)		0
Purchases, Sales, Issues and Settlements, Net, assets		1		(1)
Bonds available for sale \| Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		254		0
Sales, assets		(3)		0
Settlements, assets		(3)		(13)
Purchases, Sales, Issues and Settlements, Net, assets		248		(13)
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		233		339
Sales, assets		(5)		(244)
Settlements, assets		(764)		(953)
Purchases, Sales, Issues and Settlements, Net, assets		(536)		(858)
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		12		39
Sales, assets		0		(67)
Settlements, assets		(35)		(320)
Purchases, Sales, Issues and Settlements, Net, assets		(23)		(348)
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		495		13
Sales, assets		(851)		0
Settlements, assets		(354)		(115)
Purchases, Sales, Issues and Settlements, Net, assets		(710)		(102)
Other bond securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		1		98
Sales, assets		(9)		(178)
Settlements, assets		(329)		(430)
Purchases, Sales, Issues and Settlements, Net, assets		(337)		(510)
Other bond securities \| Obligations of states, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets		0		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		0		0
Other bond securities \| Non-U.S. governments
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets		0		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		0		0
Other bond securities \| Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets		0		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		0		0
Other bond securities \| Residential mortgage-backed securities (RMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		1		98
Sales, assets		(5)		(167)
Settlements, assets		(72)		(56)
Purchases, Sales, Issues and Settlements, Net, assets		(76)		(125)
Other bond securities \| Commercial mortgage-backed securities (CMBS)
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets		0		(11)
Settlements, assets		(1)		(6)
Purchases, Sales, Issues and Settlements, Net, assets		(1)		(17)
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
Sales, assets		(4)		0
Settlements, assets		(256)		(368)
Purchases, Sales, Issues and Settlements, Net, assets		(260)		(368)
Equity securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		8
Sales, assets		0		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		0		8
Other equity securities
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		3		0
Sales, assets		0		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		3		0
Mortgage and other loans receivable, net of allowance
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		0		0
Sales, assets		(5)		0
Settlements, assets		0		0
Purchases, Sales, Issues and Settlements, Net, assets		(5)		0
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Purchases, assets		22		1
Sales, assets		0		0
Settlements, assets		(4)		(18)
Purchases, Sales, Issues and Settlements, Net, assets		$ 18		$ (17)

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Assets)) - Discounted cash flow - Level 3 - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Corporate debt
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,638	$ 1,086
Corporate debt \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.74%	3.26%
Corporate debt \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	13.88%	12.22%
Corporate debt \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	9.31%	7.74%
Residential mortgage-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 15,679	$ 16,156
Residential mortgage-backed securities \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.99%	2.73%
Constant prepayment rate	3.71%	3.97%
Loss severity	40.73%	43.15%
Constant default rate	3.23%	3.31%
Residential mortgage-backed securities \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	5.33%	5.19%
Constant prepayment rate	12.82%	13.42%
Loss severity	75.96%	77.15%
Constant default rate	8.25%	8.30%
Residential mortgage-backed securities \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.16%	3.96%
Constant prepayment rate	8.27%	8.69%
Loss severity	58.34%	60.15%
Constant default rate	5.74%	5.80%
Certain CDO/ABS
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 5,200	$ 5,254
Certain CDO/ABS \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.69%	3.38%
Certain CDO/ABS \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.99%	4.78%
Certain CDO/ABS \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.34%	4.08%
Commercial mortgage backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 456	$ 487
Commercial mortgage backed securities \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	2.82%	2.22%
Commercial mortgage backed securities \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	6.34%	7.77%
Commercial mortgage backed securities \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.58%	4.99%
Obligations of states, municipalities and political subdivisions
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 1,571	$ 1,620
Obligations of states, municipalities and political subdivisions \| Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	3.82%	3.55%
Obligations of states, municipalities and political subdivisions \| Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.51%	4.32%
Obligations of states, municipalities and political subdivisions \| Weighted-average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield	4.16%	3.94%

FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Liabilities) - Discounted cash flow - Level 3 - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Index Annuities
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 1,517	$ 1,603
Index Annuities \| Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Lapse rates	0.50%	0.50%
Mortality multiplier	42.00%	42.00%
Options Budget	1.00%	1.00%
Index Annuities \| Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Lapse rates	40.00%	40.00%
Mortality multiplier	162.00%	162.00%
Options Budget	4.00%	4.00%
Index Life
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value	$ 554	$ 515
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	$ 1,601	$ 1,994
GMWB and GMAB \| Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	6.45%	6.45%
Base lapse rates	0.35%	0.35%
Dynamic lapse rates	30.00%	30.00%
Utilization rates	90.00%	90.00%
Mortality multiplier	40.00%	40.00%
Equity/Interest-rate Correlation	20.00%	20.00%
GMWB and GMAB \| Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Equity volatility	50.55%	51.25%
Base lapse rates	14.00%	14.00%
Dynamic lapse rates	170.00%	170.00%
Utilization rates	100.00%	100.00%
Mortality multiplier	153.00%	153.00%
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	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	$ 5,934	$ 5,997
Unfunded Commitments	1,270	1,239
Direct private equity
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	2,245	2,128
Unfunded Commitments	$ 1,259	1,227
Average original expected lives	10 years
Second investment redemption notice period	2 years
Direct private equity \| Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives	2 years
Direct private equity \| Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Average original expected lives	1 year
Direct private equity \| 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	55.00%
Direct private equity \| 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
Direct private equity \| 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	23.00%
Direct private equity \| 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
Direct private equity \| 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
Direct private equity \| 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	22.00%
Direct private equity \| 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
Direct private equity \| 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	$ 1,261	1,243
Unfunded Commitments	719	706
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	238	210
Unfunded Commitments	166	187
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	145	134
Unfunded Commitments	133	73
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	109	113
Unfunded Commitments	43	42
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	492	428
Unfunded Commitments	198	219
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	3,689	3,869
Unfunded Commitments	$ 11	12
Hedge fund investments redeemable monthly (as a percent)	26.00%
Hedge fund investments redeemable quarterly (as a percent)	40.00%
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	55.00%
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	$ 1,074	1,128
Unfunded Commitments	0	0
Long-short
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value Using Net Asset Value Per Share or its equivalent	1,196	1,233
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	1,045	1,011
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	170	266
Unfunded Commitments	8	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	204	231
Unfunded Commitments	$ 3	$ 4

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
	Sep. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value option credit risk gains (losses) on liabilities	$ 0	$ 2	$ 0	$ 3
Fair Value Option
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)		203		515
Fair Value Option \| Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)		52		(15)
Fair Value Option \| Other liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)		0		0
Fair Value Option \| Bond and equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)		23		349
Fair Value Option \| Alternative investments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value Options Changes in Fair Value Gain (loss)		$ 128		$ 181

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	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	$ 0	$ 5
Mortgage and other loans receivable, Outstanding Principal Amount	38,887	37,345
Mortgage and other loans receivable, Difference	38,887	37,345
Long-term debt, Fair Value	2,820	2,888
Long-term debt, Outstanding Principal Amount	33,619	31,640
Fair Value Option
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage and other loans receivable, Fair Value	0	5
Mortgage and other loans receivable, Outstanding Principal Amount	0	5
Mortgage and other loans receivable, Difference	0	0
Long-term debt, Fair Value	2,820	2,888
Long-term debt, Outstanding Principal Amount	2,311	2,280
Long-term debt, Difference	$ 509	$ 608

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
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Fair Value Assets Impairment Charges Measured on Nonrecurring Basis [Domain]
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	$ 28	$ 93
Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	28	17
Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	0	41
Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Impairment Charges	0	35
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	95		$ 55
Level 3 \| Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	95		55
Level 3 \| Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	0		0
Level 3 \| Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	0		0
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	95		55
Total Fair Value \| Other investments
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	95		55
Total Fair Value \| Investments in life settlements
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	0		0
Total Fair Value \| Other assets
FAIR VALUE, ASSETS MEASUREMENTS ON A NON-RECURRING BASIS
Assets at Fair Value, Non-Recurring Basis	$ 0		$ 0
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		$ 179

FAIR VALUE MEASUREMENTS (Details - Carrying values and estimated fair values of our financial instruments not measured at fair value) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Assets:
Mortgage and other loans receivable	$ 38,540	$ 37,023
Short-term investments	14,616	10,386
Cash	2,103	2,362	$ 1,918
Liabilities:
Other liabilities	26,921	26,050
Long-term Debt	33,619	31,640
Total Fair Value
Assets:
Mortgage and other loans receivable	38,672	37,761
Other invested assets	770	596
Short-term investments	11,522	7,771
Cash	2,103	2,362
Liabilities:
Policyholder contract deposits associated with investment-type contracts	122,021	122,196
Other liabilities	3,210	4,494
Long-term Debt	28,995	28,243
Level 1
Assets:
Mortgage and other loans receivable	0	0
Other invested assets	0	0
Short-term investments	0	0
Cash	2,103	2,362
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	114	117
Other invested assets	764	590
Short-term investments	11,522	7,771
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	373	387
Other liabilities	3,210	4,494
Long-term Debt	24,488	23,930
Level 3
Assets:
Mortgage and other loans receivable	38,558	37,644
Other invested assets	6	6
Short-term investments	0	0
Cash	0	0
Liabilities:
Policyholder contract deposits associated with investment-type contracts	121,648	121,809
Other liabilities	0	0
Long-term Debt	4,507	4,313
Carrying Value
Assets:
Mortgage and other loans receivable	38,540	37,018
Other invested assets	767	593
Short-term investments	11,522	7,771
Cash	2,103	2,362
Liabilities:
Policyholder contract deposits associated with investment-type contracts	117,265	114,326
Other liabilities	3,210	4,494
Long-term Debt	$ 30,799	$ 28,752

INVESTMENTS (Details - Amortized cost or cost and fair value of Available for sale securities) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 225,352	$ 226,766
Available for sale securities, Gross Unrealized Gains	11,359	15,315
Available for sale securities, Gross Unrealized Losses	(2,797)	(1,381)
Available-for-sale Securities	233,914	240,700
AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,411	1,656
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	225,352	225,461
Available for sale securities, Gross Unrealized Gains	11,359	14,891
Available for sale securities, Gross Unrealized Losses	(2,797)	(1,360)
Available-for-sale Securities	233,914	238,992
Other details of available for sale securities
Available for sale securities not rated or rated below investment grade	30,400	31,500
Bonds available for sale \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	1,411	1,656
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	2,764	2,532
Available for sale securities, Gross Unrealized Gains	121	160
Available for sale securities, Gross Unrealized Losses	(52)	(36)
Available-for-sale Securities	2,833	2,656
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	16,943	17,377
Available for sale securities, Gross Unrealized Gains	941	1,297
Available for sale securities, Gross Unrealized Losses	(73)	(30)
Available-for-sale Securities	17,811	18,644
Bonds available for sale \| Non-U.S. governments
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	15,350	15,059
Available for sale securities, Gross Unrealized Gains	570	717
Available for sale securities, Gross Unrealized Losses	(197)	(117)
Available-for-sale Securities	15,723	15,659
Bonds available for sale \| Corporate debt
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	127,106	126,310
Available for sale securities, Gross Unrealized Gains	6,020	8,666
Available for sale securities, Gross Unrealized Losses	(1,787)	(800)
Available-for-sale Securities	131,339	134,176
Bonds available for sale \| Corporate debt \| AOCI- OTTI
Schedule of Available-for-sale Securities [Line Items]
Total, Other-Than-Temporary Impairments in AOCI	13	17
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	63,189	64,183
Available for sale securities, Gross Unrealized Gains	3,707	4,051
Available for sale securities, Gross Unrealized Losses	(688)	(377)
Available-for-sale Securities	66,208	67,857
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	1,398	1,639
Bonds available for sale \| Residential mortgage-backed securities (RMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	33,131	34,181
Available for sale securities, Gross Unrealized Gains	3,150	3,273
Available for sale securities, Gross Unrealized Losses	(392)	(220)
Available-for-sale Securities	35,889	37,234
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	1,343	1,568
Bonds available for sale \| Commercial mortgage-backed securities (CMBS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	13,558	13,538
Available for sale securities, Gross Unrealized Gains	273	408
Available for sale securities, Gross Unrealized Losses	(222)	(105)
Available-for-sale Securities	13,609	13,841
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	29	42
Bonds available for sale \| Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	16,500	16,464
Available for sale securities, Gross Unrealized Gains	284	370
Available for sale securities, Gross Unrealized Losses	(74)	(52)
Available-for-sale Securities	16,710	16,782
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	26	29
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	0	1,305
Available for sale securities, Gross Unrealized Gains	0	424
Available for sale securities, Gross Unrealized Losses	0	(21)
Available-for-sale Securities	0	1,708
Equity securities available for sale \| Common Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	0	703
Available for sale securities, Gross Unrealized Gains	0	379
Available for sale securities, Gross Unrealized Losses	0	(21)
Available-for-sale Securities	0	1,061
Equity securities available for sale \| Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	0	504
Available for sale securities, Gross Unrealized Gains	0	29
Available for sale securities, Gross Unrealized Losses	0	0
Available-for-sale Securities	0	533
Equity securities available for sale \| Mutual Funds
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	0	98
Available for sale securities, Gross Unrealized Gains	0	16
Available for sale securities, Gross Unrealized Losses	0	0
Available-for-sale Securities	$ 0	$ 114

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	Mar. 31, 2018 USD ($) item	Dec. 31, 2017 USD ($)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 63,952	$ 31,657
Gross Unrealized Losses, Less than 12 Months	1,824	726
Fair Value, 12 Months or More	14,249	15,127
Gross Unrealized Losses, 12 Months or More	973	655
Fair Value, Total	78,201	46,784
Gross Unrealized Losses, Total	2,797	1,381
Bonds available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	63,952	31,520
Gross Unrealized Losses, Less than 12 Months	1,824	705
Fair Value, 12 Months or More	14,249	15,127
Gross Unrealized Losses, 12 Months or More	973	655
Fair Value, Total	78,201	46,647
Gross Unrealized Losses, Total	$ 2,797	1,360
Number of securities in an unrealized loss position \| item	12,137
Number of individual securities in continuous unrealized loss position for longer than twelve months \| item	2,015
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	$ 1,097	770
Gross Unrealized Losses, Less than 12 Months	25	23
Fair Value, 12 Months or More	529	332
Gross Unrealized Losses, 12 Months or More	27	13
Fair Value, Total	1,626	1,102
Gross Unrealized Losses, Total	52	36
Bonds available for sale \| Obligations of states, municipalities and political subdivisions
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	2,010	586
Gross Unrealized Losses, Less than 12 Months	36	6
Fair Value, 12 Months or More	599	646
Gross Unrealized Losses, 12 Months or More	37	24
Fair Value, Total	2,609	1,232
Gross Unrealized Losses, Total	73	30
Bonds available for sale \| Non-U.S. governments
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	5,825	3,511
Gross Unrealized Losses, Less than 12 Months	127	54
Fair Value, 12 Months or More	893	857
Gross Unrealized Losses, 12 Months or More	70	63
Fair Value, Total	6,718	4,368
Gross Unrealized Losses, Total	197	117
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	38,072	15,578
Gross Unrealized Losses, Less than 12 Months	1,263	453
Fair Value, 12 Months or More	6,701	7,291
Gross Unrealized Losses, 12 Months or More	524	347
Fair Value, Total	44,773	22,869
Gross Unrealized Losses, Total	1,787	800
Bonds available for sale \| Residential mortgage-backed securities (RMBS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	7,716	6,212
Gross Unrealized Losses, Less than 12 Months	206	99
Fair Value, 12 Months or More	3,349	3,790
Gross Unrealized Losses, 12 Months or More	186	121
Fair Value, Total	11,065	10,002
Gross Unrealized Losses, Total	392	220
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	6,105	3,408
Gross Unrealized Losses, Less than 12 Months	133	46
Fair Value, 12 Months or More	1,347	1,389
Gross Unrealized Losses, 12 Months or More	89	59
Fair Value, Total	7,452	4,797
Gross Unrealized Losses, Total	222	105
Bonds available for sale \| Collateralized Debt Obligations/Asset-Backed Securities (CDO/ABS)
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	3,127	1,455
Gross Unrealized Losses, Less than 12 Months	34	24
Fair Value, 12 Months or More	831	822
Gross Unrealized Losses, 12 Months or More	40	28
Fair Value, Total	3,958	2,277
Gross Unrealized Losses, Total	74	52
Equity securities available for sale
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	0	137
Gross Unrealized Losses, Less than 12 Months	0	21
Fair Value, 12 Months or More	0
Gross Unrealized Losses, 12 Months or More	0
Fair Value, Total	0	137
Gross Unrealized Losses, Total	$ 0	21
Number of individual securities in continuous unrealized loss position for longer than twelve months \| item	0
Equity securities available for sale \| Common Stock
Fair value and gross unrealized losses on AIG's available for sale securities
Fair Value, Less than 12 Months	$ 0	136
Gross Unrealized Losses, Less than 12 Months	0	21
Fair Value, 12 Months or More	0
Gross Unrealized Losses, 12 Months or More	0
Fair Value, Total	0	136
Gross Unrealized Losses, Total	0	21
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	0	1
Gross Unrealized Losses, Less than 12 Months	0	0
Fair Value, 12 Months or More	0
Gross Unrealized Losses, 12 Months or More	0
Fair Value, Total	0	1
Gross Unrealized Losses, Total	$ 0	$ 0

INVESTMENTS (Details - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost, Total	$ 225,352	$ 226,766
Fixed Maturity Securities Available for Sale, Fair Value, Total	233,914	238,992
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	1,881	1,526
Due after one year through five years, Amortized Cost	11,548	7,764
Due after five years through ten years, Amortized Cost	22,337	11,559
Due after ten years, Amortized Cost	22,069	9,705
Mortgage-backed, asset-backed and collateralized, Amortized Cost	23,163	17,453
Available for sale securities, Amortized Cost, Total	80,998	48,007
Due in one year or less, Fair Value	1,872	1,515
Due after one year through five years, Fair Value	11,232	7,571
Due after five years through ten years, Fair Value	21,507	11,143
Due after ten years, Fair Value	21,115	9,342
Mortgage-backed, asset-backed and collateralized, Fair Value	22,475	17,076
Fixed Maturity Securities Available for Sale, Fair Value, Total	78,201	46,647
Bonds available for sale
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	8,393	7,932
Due after one year through five years, Amortized Cost	46,987	47,179
Due after five years through ten years, Amortized Cost	42,637	42,617
Due after ten years, Amortized Cost	64,146	63,550
Mortgage-backed, asset-backed and collateralized, Amortized Cost	63,189	64,183
Available for sale securities, Amortized Cost, Total	225,352	225,461
Due in one year or less, Fair Value	8,524	8,071
Due after one year through five years, Fair Value	48,261	49,093
Due after five years through ten years, Fair Value	42,973	43,944
Due after ten years, Fair Value	67,948	70,027
Mortgage-backed, asset-backed and collateralized, Fair Value	66,208	67,857
Fixed Maturity Securities Available for Sale, Fair Value, Total	$ 233,914	$ 238,992

INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	$ 86	$ 350
Gross Realized Losses	60	194
Aggregate fair value of available for sale securities sold	5,500	15,800
Net realized capital gains (losses)	26	156
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	70	333
Gross Realized Losses	60	178
Equity securities available for sale
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	16	17
Gross Realized Losses	$ 0	$ 16

INVESTMENTS (Details - Value of other securities measured at fair value based on election of the fair value option) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 14,122	$ 13,361
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	$ 220	$ 251
Fixed maturity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 12,397	$ 12,772
Other Securities, Percent of Total	88.00%	96.00%
Fixed maturity securities \| U.S. government and government sponsored entities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 2,777	$ 2,802
Other Securities, Percent of Total	20.00%	21.00%
Fixed maturity securities \| Non-U.S. governments
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 54	$ 57
Other Securities, Percent of Total	0.00%	1.00%
Fixed maturity securities \| Corporate debt
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,803	$ 1,909
Other Securities, Percent of Total	13.00%	14.00%
Fixed maturity securities \| Mortgage-backed, asset-backed and collateralized
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 7,763	$ 8,004
Other Securities, Percent of Total	55.00%	60.00%
Fixed maturity securities \| Residential mortgage-backed securities (RMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,818	$ 1,885
Other Securities, Percent of Total	13.00%	14.00%
Fixed maturity securities \| Commercial mortgage-backed securities (CMBS)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 566	$ 559
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	$ 5,379	$ 5,560
Other Securities, Percent of Total	38.00%	42.00%
Equity securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Other Securities, Fair Value	$ 1,725	$ 589
Other Securities, Percent of Total	12.00%	4.00%

INVESTMENTS (Details - Carrying values of other invested assets) - USD ($) $ in Millions	108 Months Ended
	Dec. 31, 2027	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Other invested assets				$ 21,183	$ 20,822
Hedge Funds
Investment [Line Items]
Hedge Fund Fair Value Redemption, Percentage		0.00%	69.00%
Hedge Fund Fair Value Redemption, Additional Percentage	31.00%
Alternative investments
Investment [Line Items]
Other invested assets				11,125	11,308
Alternative investments \| Hedge Funds
Investment [Line Items]
Other invested assets				5,500	5,800
Alternative investments \| Direct private equity
Investment [Line Items]
Other invested assets				5,200	5,000
Alternative investments \| Affordable Housing Partnerships
Investment [Line Items]
Other invested assets				483	543
Investment real estate
Investment [Line Items]
Other invested assets				8,636	8,258
Net of accumulated depreciation on investment in real estate				556	515
Aircraft asset investments
Investment [Line Items]
Other invested assets				201	206
All other investments
Investment [Line Items]
Other invested assets				$ 1,221	$ 1,050

INVESTMENTS (Details - Components of Net investment income) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Investment [Line Items]
Total investment income	$ 3,385	$ 3,812
Investment expenses	124	126
Net investment income	3,261	3,686
Fixed maturity securities, including short-term investments
Investment [Line Items]
Total investment income	2,610	2,667
Other fixed maturity securities
Investment [Line Items]
Total investment income	(21)	134
Equity securities
Investment [Line Items]
Total investment income	(32)	5
Interest on mortgage and other loans
Investment [Line Items]
Total investment income	450	393
Alternative investments
Investment [Line Items]
Total investment income	337	448
Real estate
Investment [Line Items]
Total investment income	31	49
Other investments
Investment [Line Items]
Total investment income	$ 10	$ 116

INVESTMENTS (Details - Components of Net realized capital gains (losses)) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other-than-temporary impairments:
Severity	$ 0	$ 0
Change in intent	(49)	(1)
Foreign currency declines	(6)	(10)
Issuer-specific credit events	(32)	(57)
Adverse projected cash flows	0	0
Provision for loan losses	(24)	6
Foreign exchange transactions	53	159
Variable annuity embedded derivatives, net of related hedges	147	(389)
All other derivatives and hedge accounting	(225)	13
Impairments on investments in life settlements	0	(41)
Other	91	49
Total net realized capital gains (losses)	(19)	(115)
Net realized capital gains (losses)	(19)	(115)
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	10	155
Equity securities
Gain (Loss) on Investments [Line Items]
Sales of securities	$ 16	$ 1

INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (4,994)	$ 833
Unrealized gains and losses recognized during the reporting period on equity securities
Net gains and losses recognized securities during the period on equity securities	161
Less: Net gains and losses recognized during the period on equity securities sold during the period	(9)
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	170
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(4,969)	773
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	0	114
Unrealized gains and losses recognized during the reporting period on equity securities
Net gains and losses recognized securities during the period on equity securities	(31)
Less: Net gains and losses recognized during the period on equity securities sold during the period	(8)
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	(23)
Equity securities \| Accounting Standards Update - Recognition and Measurement of Financial Assets and Financial Liabilities
Unrealized gains and losses recognized during the reporting period on equity securities
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	31
Other investments
Schedule of Available-for-sale Securities [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(25)	$ (54)
Other invested assets
Unrealized gains and losses recognized during the reporting period on equity securities
Net gains and losses recognized securities during the period on equity securities	192
Less: Net gains and losses recognized during the period on equity securities sold during the period	(1)
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	193
Other invested assets \| Accounting Standards Update - Recognition and Measurement of Financial Assets and Financial Liabilities
Unrealized gains and losses recognized during the reporting period on equity securities
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	$ 72

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
	Mar. 31, 2018	Mar. 31, 2017
Other Than Temporary Impairment Credit Losses Recognized in Earnings
Balance, beginning of year	$ 526	$ 1,098
Increases due to:
Credit impairments on new securities subject to impairment losses	14	17
Additional credit impairments on previously impaired securities	17	30
Reductions due to:
Credit impaired securities fully disposed for which there was no prior intent or requirement to sell	(51)	(11)
Accretion on securities previously impaired due to credit	(148)	(188)
Other	0	0
Balance, end of year	$ 358	$ 946

INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 225,352		$ 225,461
Fair value	233,914		240,700
Purchased Credit Impaired (PCI) Securities
Schedule of Available-for-sale Securities [Line Items]
Contractually required payments (principal and interest)	36,711
Cash flows expected to be collected	30,121
Recorded investment in acquired securities	20,334
Outstanding principal balance	14,253		14,718
Amortized cost	10,141		10,492
Fair value	11,977		$ 12,293
Changes in activity for the accretable yield on PCI securities:
Balance, beginning of period	7,501	$ 7,498
Newly purchased PCI securities	23	88
Disposals	0	(18)
Accretion	(187)	(210)
Effect of changes in interest rate indices	206	21
Net reclassification from non-accretable difference, including effects of prepayments	58	214
Balance, end of period	$ 7,601	$ 7,593

INVESTMENTS (Details - Pledged Investments) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Fair value of securities collateral pledged	$ 5,020	$ 2,227
Fair value of amount sold or repledged	97	46
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	5,200	4,900
Short-term investments held in escrow	242	255
FHLBs
Investment [Line Items]
Fair value of fixed maturities securities available for sale	4,500	2,700
Amount owned by subsidiaries	192	93
Residential loans pledged as collateral	1,600	471
Secured financing
Investment [Line Items]
Fair value of fixed maturities securities available for sale	1,767	2,911
Fair value of other bond securities	1,381	1,585
Amounts Borrowed Under Repurchase and Securities Lending Agreements	3,200	4,500
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	281	1,581
Securities Lending Agreements, Fair Value of Collateral	2,867	2,915
Amounts Loaned under Reverse Repurchase Agreements	5,000	2,200
Secured financing \| Overnight and continuous
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	15	44
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing \| Up to 30 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	221	407
Securities Lending Agreements, Fair Value of Collateral	410	588
Secured financing \| 31 to 90 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	45	1,130
Securities Lending Agreements, Fair Value of Collateral	2,258	2,327
Secured financing \| 91 to 364 Days
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	199	0
Secured financing \| 365 Days or Greater
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing \| Bonds available for sale \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	112	26
Securities Lending Agreements, Fair Value of Collateral	37	18
Secured financing \| Bonds available for sale \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	40	48
Securities Lending Agreements, Fair Value of Collateral	1,578	2,819
Secured financing \| Bonds available for sale \| Overnight and continuous \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing \| Bonds available for sale \| Overnight and continuous \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing \| Bonds available for sale \| Up to 30 Days \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	94	7
Securities Lending Agreements, Fair Value of Collateral	0	0
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	34	13
Securities Lending Agreements, Fair Value of Collateral	235	588
Secured financing \| Bonds available for sale \| 31 to 90 Days \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	18	19
Securities Lending Agreements, Fair Value of Collateral	32	18
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	6	35
Securities Lending Agreements, Fair Value of Collateral	1,224	2,231
Secured financing \| Bonds available for sale \| 91 to 364 Days \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	5	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	0	0
Securities Lending Agreements, Fair Value of Collateral	119	0
Secured financing \| Bonds available for sale \| 365 Days or Greater \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing \| Bonds available for sale \| 365 Days or Greater \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing \| Other bond securities \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	3	11
Securities Lending Agreements, Fair Value of Collateral	7	22
Secured financing \| Other bond securities \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	111	1,452
Securities Lending Agreements, Fair Value of Collateral	1,245	56
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	15	44
Secured financing \| Other bond securities \| Overnight and continuous \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing \| Other bond securities \| Overnight and continuous \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	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	15	44
Secured financing \| Other bond securities \| Up to 30 Days \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	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	93	387
Securities Lending Agreements, Fair Value of Collateral	175	0
Secured financing \| Other bond securities \| Up to 30 Days \| U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing \| Other bond securities \| 31 to 90 Days \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	3	11
Securities Lending Agreements, Fair Value of Collateral	7	22
Secured financing \| Other bond securities \| 31 to 90 Days \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	18	1,065
Securities Lending Agreements, Fair Value of Collateral	995	56
Secured financing \| Other bond securities \| 31 to 90 Days \| U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing \| Other bond securities \| 91 to 364 Days \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing \| Other bond securities \| 91 to 364 Days \| Corporate debt
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Securities Lending Agreements, Fair Value of Collateral	75	0
Secured financing \| Other bond securities \| 91 to 364 Days \| U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
Secured financing \| Other bond securities \| 365 Days or Greater \| Non-U.S. governments
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral		0
Securities Lending Agreements, Fair Value of Collateral	0	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	0
Securities Lending Agreements, Fair Value of Collateral	0	0
Secured financing \| Other bond securities \| 365 Days or Greater \| U.S. government and government sponsored entities
Investment [Line Items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	0
GIAs
Investment [Line Items]
Fair value of other bond securities	$ 1,800	$ 2,000

LENDING ACTIVITIES (Details - Composition of Mortgages and other loans receivable) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 38,887	$ 37,345
Allowance for losses	(347)	(322)	$ (289)	$ (297)
Mortgage and other loans receivable, net	38,540	37,023
Commercial mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	29,699	28,596
Allowance for losses	$ (274)	$ (247)	$ (207)	$ (194)
Commercial mortgages \| California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	11.00%	12.00%
Commercial mortgages \| New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of mortgage loans in geographic area	22.00%	23.00%
Residential Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 5,811	$ 5,398
Life insurance policy loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	2,203	2,295
Commercial loans, other loans and notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage and other loans receivable	$ 1,174	$ 1,056

LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgage loans) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018 USD ($) loan	Dec. 31, 2017 USD ($) loan	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Commercial Mortgage Recorded Investment [Line Items]
Mortgage and other loans receivable, net	$ 38,540	$ 37,023
Allowance for credit losses	347	322	$ 289	$ 297
Total mortgage and other loans receivable	$ 38,887	$ 37,345
Debt Coverage Ratio	2	2.1
Average Loan to Value Ratio	61.00%	57.00%
Apartments
Commercial Mortgage Recorded Investment [Line Items]
In good standing	$ 8,790	$ 8,163
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	79	72
Allowance for credit losses	79	72
Total mortgage and other loans receivable	8,790	8,163
Offices
Commercial Mortgage Recorded Investment [Line Items]
In good standing	8,633	8,585
Restructured	115	115
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	3	3
Allowance for credit losses, General	95	94
Allowance for credit losses	98	97
Total mortgage and other loans receivable	8,748	8,700
Retail
Commercial Mortgage Recorded Investment [Line Items]
In good standing	5,190	5,338
Restructured	23	23
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	20	1
Allowance for credit losses, General	34	37
Allowance for credit losses	54	38
Total mortgage and other loans receivable	5,213	5,361
Industrial
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,573	2,023
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	9	6
Allowance for credit losses	9	6
Total mortgage and other loans receivable	2,573	2,023
Hotel
Commercial Mortgage Recorded Investment [Line Items]
In good standing	2,365	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	16	15
Allowance for credit losses	17	16
Total mortgage and other loans receivable	2,381	2,389
Others
Commercial Mortgage Recorded Investment [Line Items]
In good standing	1,994	1,960
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	18
Allowance for credit losses	17	18
Total mortgage and other loans receivable	$ 1,994	$ 1,960
Commercial mortgages
Commercial Mortgage Recorded Investment [Line Items]
Number of loans in good standing \| loan	775	778
Number of loans restructured \| loan	5	5
Number of loans 90 days or less delinquent \| loan	0	0
Number of loans greater than 90 days delinquent or in process of foreclosure \| loan	0	0
Number of Loans \| loan	780	783
In good standing	$ 29,545	$ 28,442
Restructured	154	154
90 days or less delinquent	0	0
Greater than 90 days delinquent or in process of foreclosure	0	0
Allowance for credit losses, Specific	24	5
Allowance for credit losses, General	250	242
Allowance for credit losses	$ 274	$ 247
Percentage of loans that are current as to payments of principal and interest	99.00%	99.00%
Percentage restructured	1.00%	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%
Total mortgage and other loans receivable	$ 29,699	$ 28,596
Commercial mortgages \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	26,574	26,023
Commercial mortgages \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	2,524	1,964
Commercial mortgages \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	601	609
Commercial mortgages \| Less than 65%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	19,976	19,876
Commercial mortgages \| Less than 65% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	17,506	18,000
Commercial mortgages \| Less than 65% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	2,121	1,525
Commercial mortgages \| Less than 65% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	349	351
Commercial mortgages \| 65% to 75%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	7,611	6,415
Commercial mortgages \| 65% to 75% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	7,240	6,038
Commercial mortgages \| 65% to 75% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	192	193
Commercial mortgages \| 65% to 75% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	179	184
Commercial mortgages \| 76% to 80%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	943	609
Commercial mortgages \| 76% to 80% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	943	569
Commercial mortgages \| 76% to 80% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	0	40
Commercial mortgages \| 76% to 80% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	0	0
Commercial mortgages \| Greater than 80%
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	1,169	1,696
Commercial mortgages \| Greater than 80% \| Greater than 1.2x
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	885	1,416
Commercial mortgages \| Greater than 80% \| 1.00X - 1.20X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	211	206
Commercial mortgages \| Greater than 80% \| Less than 1.00X
Commercial Mortgage Recorded Investment [Line Items]
Total mortgage and other loans receivable	$ 73	$ 74

LENDING ACTIVITIES (Details - Rollforward of the changes in the allowance for losses on Mortgage and other loans receivable) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	$ 322	$ 297
Loans charged off	0	0
Recoveries of loans previously charged off	0	0
Net charge-offs	0	0
Provision for loan losses	25	(8)
Other	0	0
Allowance, end of period	347	289
Loans modified in a troubled debt restructuring	0	0
Commercial mortgages
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	247	194
Loans charged off	0	0
Recoveries of loans previously charged off	0	0
Net charge-offs	0	0
Provision for loan losses	27	13
Other	0	0
Allowance, end of period	274	207
Allowance related to individually assessed credit losses	23	7
Commercial mortgage loans	82	266
Other Loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of year	75	103
Loans charged off	0	0
Recoveries of loans previously charged off	0	0
Net charge-offs	0	0
Provision for loan losses	(2)	(21)
Other	0	0
Allowance, end of period	$ 73	$ 82

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets:
Bonds available for sale	$ 233,914	$ 238,992
Other bond securities	12,397	12,772
Mortgage and other loans receivable	38,540	37,023
Other invested assets	21,183	20,822
Liabilities:
Long-term Debt	33,619	31,640
Real Estate and Investment Entities
Liabilities:
Off-balance sheet exposure	133	86
Consolidated VIE
Assets:
Bonds available for sale	8,484	9,632
Other bond securities	4,352	4,521
Mortgage and other loans receivable	2,759	2,290
Other invested assets	4,953	4,683
Other assets	2,193	2,218
Total assets	22,741	23,344
Liabilities:
Long-term Debt	4,680	4,134
Other liabilities	511	595
Total liabilities	5,191	4,729
Consolidated VIE \| Real Estate and Investment Entities
Assets:
Bonds available for sale	0	0
Other bond securities	0	0
Mortgage and other loans receivable	0	0
Other invested assets	1,413	1,365
Other assets	308	302
Total assets	1,721	1,667
Liabilities:
Long-term Debt	741	680
Other liabilities	135	144
Total liabilities	876	824
Consolidated VIE \| Securitization Vehicles
Assets:
Bonds available for sale	8,484	9,632
Other bond securities	4,349	4,518
Mortgage and other loans receivable	2,759	2,290
Other invested assets	201	206
Other assets	1,492	1,481
Total assets	17,285	18,127
Liabilities:
Long-term Debt	1,965	1,624
Other liabilities	164	244
Total liabilities	2,129	1,868
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total assets of consolidated securitization vehicles owed to Parent or its subsidiaries	16,700	17,600
Consolidated VIE \| Affordable Housing Partnerships
Assets:
Bonds available for sale	0	0
Other bond securities	0	0
Mortgage and other loans receivable	0	0
Other invested assets	3,314	3,087
Other assets	309	350
Total assets	3,623	3,437
Liabilities:
Long-term Debt	1,969	1,825
Other liabilities	187	181
Total liabilities	2,156	2,006
Consolidated VIE \| Other
Assets:
Bonds available for sale	0	0
Other bond securities	3	3
Mortgage and other loans receivable	0	0
Other invested assets	25	25
Other assets	84	85
Total assets	112	113
Liabilities:
Long-term Debt	5	5
Other liabilities	25	26
Total liabilities	30	31
Unconsolidated VIE
Assets:
Other invested assets	9,600	9,800
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	378,159	387,201
Maximum Exposure to Loss, On-Balance Sheet	9,942	10,232
Maximum Exposure to Loss, Off-Balance Sheet	3,191	3,248
Total maximum exposure to loss	13,133	13,480
Unconsolidated VIE \| Real Estate and Investment Entities
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	371,105	380,030
Maximum Exposure to Loss, On-Balance Sheet	9,054	9,253
Maximum Exposure to Loss, Off-Balance Sheet	1,988	2,043
Total maximum exposure to loss	11,042	11,296
Unconsolidated VIE \| Affordable Housing Partnerships
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	4,146	4,468
Maximum Exposure to Loss, On-Balance Sheet	669	725
Maximum Exposure to Loss, Off-Balance Sheet	0	0
Total maximum exposure to loss	669	725
Unconsolidated VIE \| Other
Total assets of unconsolidated VIEs as well as maximum exposure to loss
Total VIE Assets	2,908	2,703
Maximum Exposure to Loss, On-Balance Sheet	219	254
Maximum Exposure to Loss, Off-Balance Sheet	1,203	1,205
Total maximum exposure to loss	$ 1,422	$ 1,459

DERIVATIVES AND HEDGE ACCOUNTING (Details - Notional amounts and fair values of our derivative instruments) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	$ 108,397	$ 106,687
Gross Derivative Assets, Fair Value	3,631	3,545
Gross Derivative Liabilities, Notional Amount	49,157	45,888
Gross Derivative Liabilities, Fair Value	3,702	3,748
Derivative assets, Counterparty netting	(1,589)	(1,464)
Derivative assets, Cash collateral	(1,268)	(1,159)
Total derivative assets on consolidated balance sheet	774	922
Derivative liabilities, Counterparty netting	(1,589)	(1,464)
Derivative liabilities, Cash collateral	(980)	(1,249)
Total derivative liabilities on consolidated balance sheet	1,133	1,035
Bifurcated embedded derivatives
Derivative [Line Items]
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Fair Value	3,700	4,100
Derivatives designated as hedging instruments \| Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	10	0
Gross Derivative Assets, Fair Value	0	0
Gross Derivative Liabilities, Notional Amount	866	838
Gross Derivative Liabilities, Fair Value	21	15
Derivatives designated as hedging instruments \| Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	3,236	2,823
Gross Derivative Assets, Fair Value	122	173
Gross Derivative Liabilities, Notional Amount	4,511	4,783
Gross Derivative Liabilities, Fair Value	350	350
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	0	159
Gross Derivative Liabilities, Fair Value	0	19
Derivatives not designated as hedging instruments \| Interest rate contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	42,688	37,751
Gross Derivative Assets, Fair Value	2,549	2,171
Gross Derivative Liabilities, Notional Amount	26,505	26,461
Gross Derivative Liabilities, Fair Value	2,182	2,185
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	8,471	6,305
Gross Derivative Assets, Fair Value	673	658
Gross Derivative Liabilities, Notional Amount	11,543	11,093
Gross Derivative Liabilities, Fair Value	867	895
Derivatives not designated as hedging instruments \| Equity contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	15,465	19,975
Gross Derivative Assets, Fair Value	268	522
Gross Derivative Liabilities, Notional Amount	4,261	1,130
Gross Derivative Liabilities, Fair Value	13	2
Derivatives not designated as hedging instruments \| Credit contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	9	4
Gross Derivative Assets, Fair Value	2	1
Gross Derivative Liabilities, Notional Amount	1,412	1,365
Gross Derivative Liabilities, Fair Value	264	277
Derivatives not designated as hedging instruments \| Credit contracts \| CDS
Derivative [Line Items]
Gross Derivative Liabilities, Notional Amount	661	685
Gross Derivative Liabilities, Fair Value	245	254
Derivatives not designated as hedging instruments \| Other contracts
Derivative [Line Items]
Gross Derivative Assets, Notional Amount	38,518	39,829
Gross Derivative Assets, Fair Value	17	20
Gross Derivative Liabilities, Notional Amount	59	59
Gross Derivative Liabilities, Fair Value	$ 5	$ 5

DERIVATIVES AND HEDGE ACCOUNTING (Details - Fair values of derivative assets and liabilities) - USD ($) $ in Billions	Mar. 31, 2018	Dec. 31, 2017
Collateral
Collateral posted to third parties for derivative transactions	$ 2.7	$ 2.9
Collateral obtained from third parties for derivative transactions	$ 1.4	$ 1.3

DERIVATIVES AND HEDGE ACCOUNTING (Details - Hedge Accounting) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	$ 0	$ (120)	$ 0	$ (42)
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		(8)		(1)
Gain (loss) recognized in earnings on hedged items		9		1
Gain (loss) recognized in earnings for ineffective portion		1		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0		0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		0		0
Derivatives designated as hedging instruments \| Interest rate contracts \| Fair value hedging \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		0
Gain (loss) recognized in earnings on hedged items		0		0
Gain (loss) recognized in earnings for ineffective portion		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		0		0
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
Gain (loss) recognized in earnings on hedged items		0		0
Gain (loss) recognized in earnings for ineffective portion		0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0		0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		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		(41)		52
Gain (loss) recognized in earnings on hedged items		8		(42)
Gain (loss) recognized in earnings for ineffective portion		0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		(33)		10
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		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
Gain (loss) recognized in earnings for ineffective portion				0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net				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 derivatives		0		0
Gain (loss) recognized in earnings on hedged items		0		1
Gain (loss) recognized in earnings for ineffective portion		0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0		0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		0		1
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
Gain (loss) recognized in earnings on hedged items		0		0
Gain (loss) recognized in earnings for ineffective portion		0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0		0
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		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		0		(2)
Gain (loss) recognized in earnings on hedged items		0		0
Gain (loss) recognized in earnings for ineffective portion		0		0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net		0		(2)
Gains/(Losses) Recognized in Earnings Including Gains/(Losses) Attributable to Other		0		0
Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		9		(333)
Derivatives not designated as hedging instruments \| Net realized capital gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(13)		(384)
Derivatives not designated as hedging instruments \| Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(4)		(2)
Derivatives not designated as hedging instruments \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		12		33
Derivatives not designated as hedging instruments \| Policy fees
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		17		20
Derivatives not designated as hedging instruments \| Policyholder benefits and claims incurred
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(3)		0
Derivatives not designated as hedging instruments \| Fair value hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		9		(333)
Derivatives not designated as hedging instruments \| Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(398)		(152)
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(139)		(46)
Derivatives not designated as hedging instruments \| Equity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		(73)		(314)
Derivatives not designated as hedging instruments \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		0		0
Derivatives not designated as hedging instruments \| Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		11		15
Derivatives not designated as hedging instruments \| Other contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		17		18
Derivatives not designated as hedging instruments \| Embedded derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in earnings on derivatives		$ 591		$ 146

DERIVATIVES AND HEDGE ACCOUNTING (Details - Additional Information) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Credit Derivatives [Line Items]
Collateral posted	$ 2,700	$ 2,900
Fair value of hybrid securities	4,200	4,400
Par value of hybrid securities	8,900	9,100
Credit Risk Related Contingent Features [Member]
Credit Derivatives [Line Items]
Collateral posted	557	676
Aggregate fair value of net liability position	521	$ 572
Additional collateral postings and termination payments	$ 81
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
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Jan. 20, 2017
Supplementary Insurance Information, by Segment [Line Items]
Collateral Held For Deductible Recoverable Amounts	$ 9,500		$ 9,500
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense:
Liability for unpaid loss and loss adjustment expenses, beginning of year	78,393	$ 77,077
Reinsurance recoverable, balance at the beginning of the year	(26,708)	(15,532)
Net Liability for unpaid loss and loss adjustment expenses, beginning of year	51,685	61,545
Losses and loss adjustment expenses incurred
Current year	4,698	4,300
Prior years, excluding discount and amortization of deferred gain	(40)	63
Prior years, discount charge (benefit)	(205)	(25)
Prior years, amortization of deferred gain on retroactive reinsurance	(39)	(38)
Total losses and loss adjustment expenses incurred	4,414	4,300
Losses and loss adjustment expenses paid
Current year	(610)	(571)
Prior years	(4,779)	(4,753)
Total losses and loss adjustment expenses paid	(5,389)	(5,324)
Other changes
Foreign exchange effect	274	(105)
Acquisitions	0	0
Retroactive reinsurance adjustment (net of discount)	(97)	(11,199)
Reclassified to liabilities held for sale	0	87
Total other changes	177	(11,391)
Net liability for unpaid losses and loss adjustment expenses, balance at end of year	50,887	49,130
Reinsurance recoverable, balance at the end of the year	27,211	26,920
Total, balance at the end of the year	78,098	76,050
U.S. Commercial long-tail exposures \| NICO \| Accident Years 2015 and Prior
Other changes
Discount on retroactive reinsurance	$ 128	$ 1,700
Risk Transferred - U.S. Commercial long-tail exposures for accident years 2015 and prior, percent				80.00%
Reinsurance Percent Ceded on Paid Losses Percent				80.00%
Ceded to NICO net paid losses in excess				$ 25,000
Ceded to NICO net paid losses in excess, aggregate limit				25,000
NICO's limit of liability under the contract				20,000
Consideration paid, including interest				$ 10,200

INSURANCE LIABILITIES (Details - Narratives) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Insurance Liabilities Disclosure [Line Items]
Collateral Held For Deductible Recoverable Amounts	$ 9,500		$ 9,500
Liability for Claims and Claims Adjustment Expense	78,098	$ 76,050	78,393	$ 77,077
Net liability for unpaid losses and loss adjustment expenses as presented in the disaggregated tables below (Last 10 Years)	50,887	49,130	51,685	$ 61,545
Contractual deductible recoverable amount	12,300		12,600
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount	$ 1,921		1,844
Tabular Discount Rate	3.50%
(Increase) Decrease in Loss Reserve Discount	$ 205	25
Legacy General Insrance Run-Off Lines
Discounting Of Loss Reserves [Abstract]
Loss Reserve Discount	936		$ 918
(Increase) Decrease in Loss Reserve Discount	$ 18	$ 2

INSURANCE LIABILITIES (Details - Discounting of Reserves) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Discounting of Reserves [Line Items]
Tabular Discount Rate	3.50%
U.S. Workers' compensation	$ 3,588		$ 3,383
Retroactive Reinsurance	(1,667)		(1,539)
Total reserve discount	1,921		1,844
Current accident year	19	$ 32
Accretion and other adjustments to prior year discount	27	(64)
Effect of interest rate changes	159	57
Net reserve discount (benefit) charge	205	25
Change in discount on loss reserves ceded under retroactive reinsurance	(128)	(1,655)
Net change in total reserve discount	77	(1,630)
U.S. Workers Compensation
Discounting of Reserves [Line Items]
Workers Compensation Tabular Discount Amount	622
Workers Compensation Non Tabular Discount Amount			1,300
North America Commerical Insurance
Discounting of Reserves [Line Items]
U.S. Workers' compensation	2,652		2,465
Retroactive Reinsurance	(1,667)		(1,539)
Total reserve discount	985		926
Current accident year	19	32
Accretion and other adjustments to prior year discount	45	(48)
Effect of interest rate changes	123	39
Net reserve discount (benefit) charge	187	23
Change in discount on loss reserves ceded under retroactive reinsurance	(128)	(1,655)
Net change in total reserve discount	59	(1,632)
Legacy General Insrance Run-Off Lines
Discounting of Reserves [Line Items]
U.S. Workers' compensation	936		918
Retroactive Reinsurance	0		0
Total reserve discount	936		$ 918
Current accident year	0	0
Accretion and other adjustments to prior year discount	(18)	(16)
Effect of interest rate changes	36	18
Net reserve discount (benefit) charge	18	2
Change in discount on loss reserves ceded under retroactive reinsurance	0	0
Net change in total reserve discount	$ 18	2
New York \| U.S. Workers Compensation
Discounting of Reserves [Line Items]
Nontabular discount rate	5.00%
Pennsylvania \| U.S. Workers Compensation
Discounting of Reserves [Line Items]
Nontabular discount rate	6.00%
United Kingdom
Discounting of Reserves [Line Items]
Net reserve discount (benefit) charge	$ 177	173
Net change in total reserve discount	$ (5)	$ (1)

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) $ in Billions	Jun. 15, 2015 USD ($)	Sep. 16, 2013 individual	Mar. 11, 2013 class	Nov. 21, 2011	Mar. 31, 2018 USD ($)
Other Commitments
Other Commitments					$ 2.9
Starr International Litigation
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS
Number of separate proceedings filed \| class			2
Damages claimed	$ 40.0
Percentage of ownership in AIG received by Department of the Treasury				80.00%
Number of shareholders who have submitted timely and valid requests to opt into the class \| individual		286,908

CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) $ in Millions	Mar. 31, 2018 USD ($)
Other Operations
Guarantor Obligations [Line Items]
Amount outstanding under standby letters of credit at end of period	$ 85

EQUITY (Details - Shares Outstanding) - USD ($)				3 Months Ended
EQUITY (Details - Shares Outstanding) - USD ($)	May 02, 2018	Mar. 29, 2018	Mar. 29, 2017	Mar. 31, 2018	Mar. 31, 2017	May 03, 2017
The following table presents a roll forward of outstanding shares:
Shares, beginning of year				(1,007,626,835)
Shares, beginning of year				1,906,671,492
Shares, beginning of year				899,044,657
Issuances (in shares)				4,021,554
Shares repurchased				(5,384,703)	(56,000,000)
Shares, end of period				(1,008,989,984)
Shares, end of period				1,906,671,492
Shares, end of period				897,681,508
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
Date of Shareholders of Record		Mar. 15, 2018	Mar. 15, 2017
Shares repurchased (in shares)				5,384,703	56,000,000
Payments for Repurchase of Common Stock				$ 298,000,000	$ 3,585,000,000
Amount paid to purchase warrants				$ 2,000,000	$ 0
Warrants repurchased				97,553	0
Subsequent event
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Date of Shareholders of Record	Jun. 14, 2018
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				$ 2,000,000,000
Treasury Stock
The following table presents a roll forward of outstanding shares:
Shares, beginning of year				(1,007,626,835)
Issuances (in shares)				4,021,554
Shares repurchased				(5,384,703)
Shares, end of period				(1,008,989,984)
The following table presents record date, payment date and dividends paid per share on AIG Common Stock:
Shares repurchased (in shares)				5,384,703

EQUITY (Details - Rollforward of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	$ 5,465
Cumulative effect of change in accounting principle	(8)
Deferred tax asset (liability)	734	$ 10
Total other comprehensive income (loss)	(2,669)	551
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	158	(276)
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment	29	18
Balance, end of period, net of tax	2,220
Accumulated Other Comprehensive Income
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	5,465	3,230
Cumulative effect of change in accounting principle	(576)
Change in unrealized appreciation (depreciation) of investments	(4,994)	833
Change in deferred acquisition costs adjustment and other	664	70
Change in future policy benefits	741	(86)
Changes in foreign currency translation adjustments	172	(304)
Change in net actuarial gain (loss)	16	25
Change in prior service cost (credit)	(4)	3
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	2
Deferred tax asset (liability)	(734)	(10)
Total other comprehensive income (loss)	(2,669)	551
Balance, end of period, net of tax	2,220	3,781
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Other-Than-Temporary Credit Impairments Were Recognized
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	793	426
Cumulative effect of change in accounting principle	169
Change in unrealized appreciation (depreciation) of investments	(240)	143
Change in deferred acquisition costs adjustment and other	30	32
Change in future policy benefits	0	0
Deferred tax asset (liability)	60	(61)
Total other comprehensive income (loss)	(150)	114
Noncontrolling interests	0	0
Balance, end of period, net of tax	812	540
Unrealized Appreciation (Depreciation) of All Other Investments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	7,693	6,405
Cumulative effect of change in accounting principle	(285)
Change in unrealized appreciation (depreciation) of investments	(4,754)	690
Change in deferred acquisition costs adjustment and other	634	38
Change in future policy benefits	741	(86)
Deferred tax asset (liability)	671	53
Total other comprehensive income (loss)	(2,708)	695
Noncontrolling interests	0	0
Balance, end of period, net of tax	4,700	7,100
Foreign Currency Translation Adjustments
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	(2,090)	(2,629)
Cumulative effect of change in accounting principle	(284)
Change in unrealized appreciation (depreciation) of investments	0	0
Changes in foreign currency translation adjustments	172	(304)
Deferred tax asset (liability)	(14)	28
Total other comprehensive income (loss)	158	(276)
Noncontrolling interests	0	0
Balance, end of period, net of tax	(2,216)	(2,905)
Retirement Plan Liabilities Adjustment
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	(931)	(972)
Cumulative effect of change in accounting principle	(183)
Change in unrealized appreciation (depreciation) of investments	0	0
Change in net actuarial gain (loss)	16	25
Change in prior service cost (credit)	(4)	3
Deferred tax asset (liability)	17	(10)
Total other comprehensive income (loss)	29	18
Noncontrolling interests	0	0
Balance, end of period, net of tax	(1,085)	(954)
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Own Credit Risk
A rollforward of Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period, net of tax	0	0
Cumulative effect of change in accounting principle	7
Change in unrealized appreciation (depreciation) of investments	0	0
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	2
Deferred tax asset (liability)	0	0
Deferred tax asset (liability), Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss	0	0
Total other comprehensive income (loss)	2	0
Noncontrolling interests	0	0
Balance, end of period, net of tax	$ 9	$ 0

EQUITY (Details - Other comprehensive income reclassification adjustments) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	$ (3,417)	$ 739
Less: Reclassification adjustments included in net income	(14)	198
Total other comprehensive income (loss), before income tax expense (benefit)	(3,403)	541
Less: Income tax expense (benefit)	(734)	(10)
Other comprehensive income (loss)	(2,669)	551
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Other-Than-Temporary Credit Impairments Were Recognized
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(208)	190
Less: Reclassification adjustments included in net income	2	15
Total other comprehensive income (loss), before income tax expense (benefit)	(210)	175
Less: Income tax expense (benefit)	(60)	61
Other comprehensive income (loss)	(150)	114
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(3,386)	835
Less: Reclassification adjustments included in net income	(7)	193
Total other comprehensive income (loss), before income tax expense (benefit)	(3,379)	642
Less: Income tax expense (benefit)	(671)	(53)
Other comprehensive income (loss)	(2,708)	695
Foreign Currency Translation Adjustments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	172	(304)
Less: Reclassification adjustments included in net income	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	172	(304)
Less: Income tax expense (benefit)	14	(28)
Other comprehensive income (loss)	158	(276)
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	3	18
Less: Reclassification adjustments included in net income	(9)	(10)
Total other comprehensive income (loss), before income tax expense (benefit)	12	28
Less: Income tax expense (benefit)	(17)	10
Other comprehensive income (loss)	29	18
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Own Credit Risk
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	2	0
Less: Reclassification adjustments included in net income	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	2	0
Less: Income tax expense (benefit)	0	0
Other comprehensive income (loss)	$ 2	$ 0

EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investments	$ 68	$ (55)
Deferred acquisition costs adjustment	1,358	1,108
Future policy benefits	5,667	6,047
Total	(14)	198
Income from continuing operations before income tax expense (benefit)	1,227	1,727
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)	(14)	198
Unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were recognized
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	2	15
Unrealized appreciation (depreciation) of fixed maturity securities 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]
Investments	2	15
Total	2	15
Unrealized appreciation (depreciation) of all other investments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	(7)	193
Unrealized appreciation (depreciation) of all other investments \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investments	24	140
Deferred acquisition costs adjustment	(31)	53
Future policy benefits	0	0
Total	(7)	193
Change in retirement plan liabilities adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	(9)	(10)
Change in retirement plan liabilities adjustment \| Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior-service credit	0	0
Actuarial gains (losses)	(9)	(10)
Total	$ (9)	$ (10)

EARNINGS PER SHARE (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator for EPS:
Income (Loss) from Continuing Operations	$ 950	$ 1,211
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	26
Net income (loss) attributable to AIG common shareholders from continuing operations	939	1,185
Income (loss) from discontinued operations, net of income tax expense	(1)	0
Net income (loss) attributable to AIG common shareholders	$ 938	$ 1,185
Denominator for EPS:
Weighted average shares outstanding - basic	907,951,597	980,777,243
Dilutive shares	17,314,980	24,537,787
Weighted average shares outstanding - diluted	925,266,577	1,005,315,030
Basic:
Income (loss) from continuing operations	$ 1.03	$ 1.21
Income (loss) from discontinued operations	0	0
Net income (loss) attributable to AIG	1.03	1.21
Diluted:
Income (loss) from continuing operations	1.01	1.18
Income (loss) from discontinued operations	0	0
Net Income (loss) attributable to AIG	$ 1.01	$ 1.18
Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive	700,000	1,800,000

EMPLOYEE BENEFITS (Details - Components of net periodic benefit cost with respect to pensions and other postretirement benefits) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pensions
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 8	$ 14
Interest cost	45	47
Expected return on assets	(78)	(70)
Amortization of prior service (credit) cost	1	0
Amortization of net (gain) loss	9	10
Net periodic benefit cost (credit)	(15)	1
Pensions \| U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	6
Interest cost	41	43
Expected return on assets	(71)	(64)
Amortization of prior service (credit) cost	0	0
Amortization of net (gain) loss	7	7
Net periodic benefit cost (credit)	(21)	(8)
Pensions \| Non U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	8
Interest cost	4	4
Expected return on assets	(7)	(6)
Amortization of prior service (credit) cost	1	0
Amortization of net (gain) loss	2	3
Net periodic benefit cost (credit)	6	9
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1
Interest cost	2	3
Expected return on assets	0	0
Amortization of prior service (credit) cost	0	0
Amortization of net (gain) loss	0	0
Net periodic benefit cost (credit)	2	4
Postretirement Plans \| U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Interest cost	2	2
Expected return on assets	0	0
Amortization of prior service (credit) cost	0	0
Amortization of net (gain) loss	0	0
Net periodic benefit cost (credit)	2	2
Postretirement Plans \| Non U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1
Interest cost	0	1
Expected return on assets	0	0
Amortization of prior service (credit) cost	0	0
Amortization of net (gain) loss	0	0
Net periodic benefit cost (credit)	$ 0	$ 2

INCOME TAXES (Details - U.S. TAX REFORM OVERVIEW) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax [Line Items]
U.S. federal income tax at statutory rate (as a percent)	21.00%	35.00%
Impact of Tax Act			$ 6,700.0
Tax charge attributable to the reduction in the U.S. corporate income tax			6,700.0
Tax benefit related to the deemed repatriation tax			$ 38.0
Tax Act Discount Period Extension, Minimum	10 years
Tax Act Discount Period Extension, Maximum	24 years

INCOME TAXES (Details - EFFECTIVE TAX RATE) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2017
Income (loss) from continuing operations before income tax expense (benefit)
Income (loss) from continuing operations before income tax expense (benefit)		$ 1,227.0		$ 1,727.0
U.S.:
Income tax expense (benefit)		277.0		516.0
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)		1,227.0		1,727.0
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)		277.0		$ 516.0
Adjustments:
Reclassifications from accumulated other comprehensive income		248.0
Impact of Tax Act					$ 6,700.0
Valuation allowance
Increase (Decrease) in certain other valuation allowances associated with foreign jurisdictions	$ 0.0	30.0
Increase (Decrease) in certain other valuation allowances associated with certain state jurisdictions.	$ 0.0	0.0
Valuation allowance related to unrealized losses that are no more-likely-than-not to be realized		$ 0.0
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)		21.00%		35.00%
Adjustments:
Amounts attributable to continuing operations (as a percent)	0.00%	22.60%	0.00%	29.90%
Accounting for Uncertainty in Income Taxes
Unrecognized tax benefits, excluding interest and penalties		$ 4,700.0			4,700.0
Unrecognized tax benefits, if recognized would not affect the effective tax rate		52.0			28.0
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate		4,700.0			4,700.0
Unrecognized tax benefits, interest and penalties accrued		2,100.0			$ 2,000.0
Unrecognized tax benefits, interest net of the federal benefit (expense) and penalties		(54.0)		$ (17.0)
Decrease in Unrecognized Tax Benefits is Reasonably Possible in the next twelve months		$ 3,900.0
U.S. taxable income from life companies offset by those net operating loss carryforwards		35.00%

INCOME TAXES (Details - Assessment of Deferred Tax Asset (liabilities) Valuation Allowance) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2018	Jun. 30, 2018
Non-Life Companies [Member]
Deferred Tax Assets, Liabilities [Line Items]
Deferred tax asset valuation allowance allocated to other comprehensive income	$ 0	$ 0
Life Insurance Companies [Member]
Deferred Tax Assets, Liabilities [Line Items]
Deferred tax asset valuation allowance allocated to other comprehensive income	$ 0	$ 0

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Balance Sheets) - USD ($)
$ in Millions

Mar. 31, 2018

Dec. 31, 2017

Mar. 31, 2017

Dec. 31, 2016

Assets:

$ 14,616

$ 10,386

307,759

311,906

322,375

322,292

2,103

2,362

$ 1,918

174,665

173,647

499,143

498,301

284,657

282,105

33,619

31,640

117,510

118,848

435,786

432,593

Non-redeemable noncontrolling interests

62,792

65,171

565

537

63,357

65,708

74,667

$ 76,858

499,143

498,301

Assets:

221

^[1]

317

213

^[1]

Assets:

^[1]

AIG (As Guarantor)

Assets:

6,031

2,541

4,814

6,004

10,845

8,545

34,747

35,004

37,224

40,135

15,932

16,016

98,752

99,703

23,038

21,557

12,343

12,458

579

517

35,960

34,532

62,792

65,171

62,792

65,171

AIG (As Guarantor) | Other Assets

98,752

99,703

Assets:

AIG (As Guarantor) | Short-term investments

Assets:

AIGLH

Assets:

28,741

30,359

166

170

28,912

30,549

642

133

143

775

785

28,137

29,764

28,137

29,764

28,912

30,549

AIGLH | Other Assets

Assets:

AIGLH | Short-term investments

Assets:

Other Subsidiaries

Assets:

11,764

11,559

302,945

305,902

314,709

317,461

2,094

2,339

1,905

579

517

160,755

159,594

478,137

479,911

284,657

282,105

9,939

9,441

110,443

112,275

34,749

35,004

439,788

438,825

Non-redeemable noncontrolling interests

37,784

40,549

565

537

38,349

41,086

Other Subsidiaries | Other Assets

478,137

479,911

Assets:

Other Subsidiaries | Short-term investments

220

316

212

Assets:

Reclassification and Eliminations

$ 54

Assets:

(3,179)

(3,714)

(3,179)

(3,714)

(35,326)

(35,521)

(65,965)

(70,494)

(2,188)

(2,133)

(106,658)

(111,862)

(5,409)

(6,028)

(35,328)

(35,521)

(40,737)

(41,549)

(65,921)

(70,313)

(65,921)

(70,313)

Condensed Financial Statements, Captions [Line Items]

$ (106,658)

$ (111,862)

[1]	Includes funds held for tax sharing payments to AIG Parent, security deposits for certain leased aircraft and escrow funds, security deposits and replacement reserve deposits related to our affordable housing investments.

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Income (Loss)) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Other income	$ 11,712	$ 12,632
Total revenues	11,712	12,632
Expenses:
Interest expense	277	298
(Gains) losses on extinguishment of debt	4	(1)
Other expenses	10,204	10,608
Total benefits, losses and expenses	10,485	10,905
Income (loss) from continuing operations before income tax expense (benefit)	1,227	1,727
Income tax expense (benefit)	277	516
Income (loss) from continuing operations	950	1,211
Income (loss) from discontinued operations	(1)	0
Net income (loss)	949	1,211
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	26
Net income (loss) attributable to AIG	938	1,185
AIG (As Guarantor)
Revenues:
Equity in earnings of consolidated subsidiaries	1,033	1,462
Other income	258	196
Total revenues	1,291	1,658
Expenses:
Interest expense	220	242
(Gains) losses on extinguishment of debt	0	0
Other expenses	152	335
Total benefits, losses and expenses	372	577
Income (loss) from continuing operations before income tax expense (benefit)	919	1,081
Income tax expense (benefit)	(19)	(104)
Income (loss) from continuing operations	938	1,185
Income (loss) from discontinued operations	0	0
Net income (loss)	938	1,185
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0
Net income (loss) attributable to AIG	938	1,185
AIGLH
Revenues:
Equity in earnings of consolidated subsidiaries	722	600
Other income	0	0
Total revenues	722	600
Expenses:
Interest expense	12	12
(Gains) losses on extinguishment of debt	0	0
Other expenses	1	1
Total benefits, losses and expenses	13	13
Income (loss) from continuing operations before income tax expense (benefit)	709	587
Income tax expense (benefit)	3	(4)
Income (loss) from continuing operations	706	591
Income (loss) from discontinued operations	0	0
Net income (loss)	706	591
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0
Net income (loss) attributable to AIG	706	591
Other Subsidiaries
Revenues:
Equity in earnings of consolidated subsidiaries	0	0
Other income	11,512	12,382
Total revenues	11,512	12,382
Expenses:
Interest expense	48	46
(Gains) losses on extinguishment of debt	4	(1)
Other expenses	10,106	10,325
Total benefits, losses and expenses	10,158	10,370
Income (loss) from continuing operations before income tax expense (benefit)	1,354	2,012
Income tax expense (benefit)	293	624
Income (loss) from continuing operations	1,061	1,388
Income (loss) from discontinued operations	(1)	0
Net income (loss)	1,060	1,388
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	11	26
Net income (loss) attributable to AIG	1,049	1,362
Reclassification and Eliminations
Revenues:
Equity in earnings of consolidated subsidiaries	(1,755)	(2,062)
Other income	(58)	54
Total revenues	(1,813)	(2,008)
Expenses:
Interest expense	(3)	(2)
(Gains) losses on extinguishment of debt	0	0
Other expenses	(55)	(53)
Total benefits, losses and expenses	(58)	(55)
Income (loss) from continuing operations before income tax expense (benefit)	(1,755)	(1,953)
Income tax expense (benefit)	0	0
Income (loss) from continuing operations	(1,755)	(1,953)
Income (loss) from discontinued operations	0	0
Net income (loss)	(1,755)	(1,953)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	0	0
Net income (loss) attributable to AIG	$ (1,755)	$ (1,953)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Comprehensive Income (Loss)) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ 949	$ 1,211
Other Comprehensive Income (Loss)	(2,669)	551
Comprehensive income (loss)	(1,720)	1,762
Total comprehensive income (loss) attributable to noncontrolling interests	11	26
Comprehensive income (loss) attributable to AIG	(1,731)	1,736
AIG (As Guarantor)
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	938	1,185
Other Comprehensive Income (Loss)	(2,669)	551
Comprehensive income (loss)	(1,731)	1,736
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	(1,731)	1,736
AIGLH
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	706	591
Other Comprehensive Income (Loss)	4,950	4,660
Comprehensive income (loss)	5,656	5,251
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	5,656	5,251
Other Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	1,060	1,388
Other Comprehensive Income (Loss)	14,655	51,030
Comprehensive income (loss)	15,715	52,418
Total comprehensive income (loss) attributable to noncontrolling interests	11	26
Comprehensive income (loss) attributable to AIG	15,704	52,392
Reclassification and Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(1,755)	(1,953)
Other Comprehensive Income (Loss)	(19,605)	(55,690)
Comprehensive income (loss)	(21,360)	(57,643)
Total comprehensive income (loss) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to AIG	$ (21,360)	$ (57,643)

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Mar. 31, 2018

Dec. 31, 2017

Mar. 31, 2017

Net cash provided by (used in) operating activities

$ (938)

$ (10,336)

14,471

26,699

(12,763)

(13,177)

(3,040)

1,250

Net cash provided by (used in) investing activities

(646)

(297)

(1,972)

14,499

3,039

151

(1,327)

(602)

(298)

(3,585)

(289)

(307)

Net cash provided by (used in) financing activities

1,361

295

2,486

(4,048)

Effect of exchange rate changes on cash and restricted cash

(82)

(366)

2,737

2,107

$ 0

$ 52

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

2,371

2,192

Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows

2,103

$ 2,362

1,918

2,371

2,192

2,371

2,737

2,192

Interest:

(357)

(354)

Taxes:

(28)

(68)

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

221

^[1]

317

213

^[1]

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

Condensed Financial Statements, Captions [Line Items]

^[1]

AIG (As Guarantor)

Net cash provided by (used in) operating activities

651

1,322

2,699

(39)

(890)

422

(56)

Net change in restricted cash

153

206

(2,460)

1,477

Net cash provided by (used in) investing activities

(79)

(5)

(681)

3,431

2,472

1,107

(298)

(3,585)

(183)

(289)

(307)

Net cash provided by (used in) financing activities

(154)

684

(4,075)

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows

Interest:

(260)

(288)

Taxes:

(9)

(14)

Non-cash financing and investing activities:

403

1,090

Return of capital

2,706

Dividends received in the form of securities

150

Capital contributions

2,339

198

AIG (As Guarantor) | Other Assets

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

AIG (As Guarantor) | Short-term investments

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

Condensed Financial Statements, Captions [Line Items]

AIGLH

Net cash provided by (used in) operating activities

362

(23)

Net change in restricted cash

Net cash provided by (used in) investing activities

(377)

Net cash provided by (used in) financing activities

(377)

(15)

(23)

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows

Interest:

(23)

Taxes:

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

AIGLH | Other Assets

AIGLH | Short-term investments

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

Condensed Financial Statements, Captions [Line Items]

Other Subsidiaries

Net cash provided by (used in) operating activities

(501)

(10,915)

15,830

26,482

(15,405)

(14,769)

(60)

183

Net change in restricted cash

(580)

(227)

Net cash provided by (used in) investing activities

(567)

(292)

(776)

11,401

567

151

220

602

(422)

(431)

(49)

Net cash provided by (used in) financing activities

1,362

856

(355)

Effect of exchange rate changes on cash and restricted cash

(82)

(363)

2,709

2,070

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

2,346

2,171

Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows

2,094

2,339

1,905

2,346

2,171

2,346

2,709

2,171

Interest:

(97)

(43)

Taxes:

(19)

(54)

Other Subsidiaries | Other Assets

(403)

(1,090)

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

Other Subsidiaries | Short-term investments

220

316

212

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

Reclassification and Eliminations

Condensed Financial Statements, Captions [Line Items]

Net cash provided by (used in) operating activities

(808)

(49)

(2,681)

(2,482)

2,681

2,482

(362)

(127)

(153)

(206)

Net cash provided by (used in) investing activities

(515)

(333)

362

127

808

Net cash provided by (used in) financing activities

153

206

1,323

382

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]

Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows

$ 0

Interest:

Taxes: