109 / 188
(In millions)
2016
2015
2014
Realized investment gains (losses):
Fixed maturities:
Available for sale:
Gross gains from sales
$ 77
$ 224
$ 192
Gross losses from sales
(134)
(1)
(8)
(12)
Net gains (losses) from redemptions
(1)
186
52
34
Other-than-temporary impairment losses
(24)
(1)
(152)
(31)
Held to maturity:
Net gains (losses) from redemptions
0
0
1
Total fixed maturities
105
116
184
Perpetual securities:
Available for sale:
Net gains (losses) from redemptions
64
35
0
Other-than-temporary impairment losses
(2)
0
0
Total perpetual securities
62
35
0
Equity securities:
Net gains (losses) from redemptions
22
0
0
Other-than-temporary impairment losses
(57)
(1)
0
Total equity securities
(35)
(1)
0
Derivatives and other:
Derivative gains (losses)
(255)
(10)
31
Total derivatives and other
(255)
(10)
31
Total realized investment gains (losses)
$ (123)
$ 140
$ 215
(1)
Primarily driven by foreign exchange
In 2016, the impairments we recorded related to fixed maturity securities were due to a change in intent to sell
securities. In 2016, the impairments we recorded related to equity securities were a result of significant and/or prolonged
declines in fair value, as well as expected portfolio rebalancing where we were not able to assert our ability and intent to
hold certain securities until recovery.
107
Unrealized Investment Gains and Losses
Information regarding changes in unrealized gains and losses from investments for the years ended December 31
follows:
(In millions)
2016
2015
2014
Changes in unrealized gains (losses):
Fixed maturities:
Available for sale
$ 2,690
$ (2,481)
$ 5,629
Transferred to held to maturity
0
0
(10)
Perpetual securities:
Available for sale
21
(123)
269
Equity securities
88
9
5
Total change in unrealized gains (losses)
$ 2,799
$ (2,595)
$ 5,893
Effect on Shareholders' Equity
The net effect on shareholders' equity of unrealized gains and losses from investment securities at December 31 was
as follows: