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Liability Amounts
Interest Rates
(In millions)
Policy
Issue Year
2016
2015
Year of
Issue
In 20
Years
Health insurance:
Japan:
1992 - 2016
$ 8,912
$ 7,633
1.0 - 2.5 % 1.0 - 2.5 %
1974 - 2013
1,118
1,078
2.7 - 2.75
2.25 - 2.75
1998 - 2016
11,687
11,008
3.0
3.0
1997 - 1999
2,485
2,435
3.5
3.5
1994 - 1996
3,069
2,998
4.0 - 4.5
4.0 - 4.5
1987 - 1994
14,372
14,161
5.5
5.5
1985 - 1991
1,871
1,868
5.25 - 6.75
5.25 - 5.5
1978 - 1984
2,134
2,163
6.5
5.5
U.S.:
2013 - 2016
75
57
3.0 - 3.5
3.0 - 3.5
2012 - 2016
1,062
794
3.75
3.75
2011
319
300
4.75
4.75
2005 - 2010
3,004
2,986
5.5
5.5
1988 - 2004
669
687
8.0
6.0
1986 - 2004
1,265
1,276
6.0
6.0
1981 - 1986
166
174
6.5 - 7.0
5.5 - 6.5
1998 - 2004
1,295
1,279
7.0
7.0
Other
19
21
Intercompany eliminations:
2015
(630)
(1)
(646)
(1)
2.0
2.0
Life insurance:
Japan:
2001 - 2016
7,255
5,441
1.0 - 1.85
1.0 - 1.85
2011 - 2016
4,151
3,226
2.0
2.0
2009 - 2011
2,861
2,332
2.25
2.25
1992 - 2006
5
5
2.19
1.55
2005 - 2011
1,488
1,330
2.5
2.5
1985 - 2006
2,007
1,962
2.7
2.25
2007 - 2011
1,220
1,105
2.75
2.75
1999 - 2011
2,102
1,988
3.0
3.0
1996 - 2009
657
635
3.5
3.5
1994 - 1996
897
877
4.0 - 4.5
4.0 - 4.5
U.S.:
1956 - 2016
571
514
3.5 - 6.0
3.5 - 6.0
Total
$ 76,106
$ 69,687
(1)
Elimination entry necessary due to recapture of a portion of policy liabilities ceded externally, as a result of the reinsurance
retrocession transaction as described in Note 8 of the Notes to the Consolidated Financial Statements
The weighted-average interest rates reflected in the consolidated statements of earnings for future policy benefits for
Japanese policies were 3.5% in 2016, compared with 3.6% in 2015 and 3.8% in 2014; and for U.S. policies, 5.5% in 2016,
compared with 5.6% in 2015 and 5.7% in 2014.
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