| December 31, 2013 | ||||||||
| (In millions) | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||
| Financial assets at fair value: | ||||||||
| Fixed maturities: | ||||||||
| Federal government and agency | $ | 297 | $ | 583 | $ | - | $ | 880 |
| State and local government | - | 2,144 | - | 2,144 | ||||
| Foreign government | - | 1,421 | 23 | 1,444 | ||||
| Corporate | - | 10,476 | 505 | 10,981 | ||||
| Federal agency mortgage-backed | - | 76 | - | 76 | ||||
| Other mortgage-backed | - | 76 | 1 | 77 | ||||
| Other asset-backed | - | 282 | 602 | 884 | ||||
| Total fixed maturities (1) | 297 | 15,058 | 1,131 | 16,486 | ||||
| Equity securities | 8 | 74 | 59 | 141 | ||||
| Subtotal | 305 | 15,132 | 1,190 | 16,627 | ||||
| Short-term investments | - | 631 | - | 631 | ||||
| GMIB assets (2) | - | - | 751 | 751 | ||||
| Other derivative assets (3) | - | 3 | - | 3 | ||||
| Total financial assets at fair value, excluding separate accounts | $ | 305 | $ | 15,766 | $ | 1,941 | $ | 18,012 |
| Financial liabilities at fair value: | ||||||||
| GMIB liabilities | $ | - | $ | - | $ | 741 | $ | 741 |
| Other derivative liabilities (3) | - | 16 | - | 16 | ||||
| Total financial liabilities at fair value | $ | - | $ | 16 | $ | 741 | $ | 757 |
| (1) Fixed maturities included $458 million of net appreciation required to adjust future policy benefits for the run-off settlement annuity business including $60 million of appreciation for securities classified in Level 3. | ||||||||
| (2) The GMIB assets represented retrocessional contracts in place from three external reinsurers that cover the exposures on these contracts. See Note 7 for additional information. | ||||||||
| (3) Other derivative assets reflected interest rate and foreign currency swaps qualifying as cash flow hedges. Other derivative liabilities included $15 million of interest rate and foreign currency swaps qualifying as cash flow hedges and $1 million of interest rate and foreign currency swaps not designated as accounting hedges. See Note 12 for additional information. | ||||||||
| December 31, 2012 | ||||||||
| (In millions) | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||
| Financial assets at fair value: | ||||||||
| Fixed maturities: | ||||||||
| Federal government and agency | $ | 156 | $ | 746 | $ | - | $ | 902 |
| State and local government | - | 2,437 | - | 2,437 | ||||
| Foreign government | - | 1,298 | 24 | 1,322 | ||||
| Corporate | - | 11,201 | 695 | 11,896 | ||||
| Federal agency mortgage-backed | - | 122 | - | 122 | ||||
| Other mortgage-backed | - | 88 | 1 | 89 | ||||
| Other asset-backed | - | 340 | 597 | 937 | ||||
| Total fixed maturities (1) | 156 | 16,232 | 1,317 | 17,705 | ||||
| Equity securities | 4 | 73 | 34 | 111 | ||||
| Subtotal | 160 | 16,305 | 1,351 | 17,816 | ||||
| Short-term investments | - | 154 | - | 154 | ||||
| GMIB assets (2) | - | - | 622 | 622 | ||||
| Other derivative assets (3) | - | 41 | - | 41 | ||||
| Total financial assets at fair value, excluding separate accounts | $ | 160 | $ | 16,500 | $ | 1,973 | $ | 18,633 |
| Financial liabilities at fair value: | ||||||||
| GMIB liabilities | $ | - | $ | - | $ | 1,170 | $ | 1,170 |
| Other derivative liabilities (3) | - | 31 | - | 31 | ||||
| Total financial liabilities at fair value | $ | - | $ | 31 | $ | 1,170 | $ | 1,201 |
| (1) Fixed maturities included $875 million of net appreciation required to adjust future policy benefits for the run-off settlement annuity business including $108 million of appreciation for securities classified in Level 3. | ||||||||
| (2) The GMIB assets represented retrocessional contracts in place from two external reinsurers that cover 55% of the exposures on these contracts. See Note 7 for additional information. | ||||||||
| (3) Other derivative assets included $5 million of interest rate and foreign currency swaps qualifying as cash flow hedges and $36 million of interest rate swaps not designated as accounting hedges. Other derivative liabilities reflected foreign currency and interest rate swaps qualifying as cash flow hedges. See Note 12 for additional information. | ||||||||