125 / 188
2015
(In millions)
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Fair
Value
Assets:
Securities available for sale, carried at
fair value:
Fixed maturities:
Government and agencies
$18,669
$ 607
$ 0
$ 19,276
Municipalities
0
1,208
0
1,208
Mortgage- and asset-backed securities
0
362
220
582
Public utilities
0
7,479
0
7,479
Sovereign and supranational
0
1,407
0
1,407
Banks/financial institutions
0
5,993
26
6,019
Other corporate
0
29,378
0
29,378
Total fixed maturities
18,669
46,434
246
65,349
Perpetual securities:
Banks/financial institutions
0
1,742
0
1,742
Other corporate
0
205
0
205
Total perpetual securities
0
1,947
0
1,947
Equity securities
489
6
3
498
Other assets:
Foreign currency swaps
0
462
101
563
Foreign currency forwards
0
107
0
107
Foreign currency options
0
5
0
5
Credit default swaps
0
0
1
1
Total other assets
0
574
102
676
Other investments
176
0
0
176
Cash and cash equivalents
4,350
0
0
4,350
Total assets
$23,684
$ 48,961
$ 351
$ 72,996
Liabilities:
Foreign currency swaps
$ 0
$ 21
$ 293
$ 314
Foreign currency forwards
0
49
0
49
Foreign currency options
0
8
0
8
Total liabilities
$ 0
$ 78
$ 293
$ 371
123