v2.4.0.8

Investments (Tables) | 9 Months Ended
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Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract] |
Schedule Of Amortized Cost And Fair Value Of Fixed Maturities And Related OTTI Recognized In AOCI |
September 30, 2014 | Amortized Cost |  |  | Gross Unrealized Appreciation |  |  | Gross Unrealized Depreciation |  |  | Fair Value |  |  | OTTI Recognized in AOCI |
(in millions of U.S. dollars) |  |  |  |
Available for sale |  |  |  |  |  |  |  |  |
U.S. Treasury and agency | $ | 2,627 |  |  | $ | 70 |  |  | $ | (19 | ) |  | $ | 2,678 |  |  | $ | — |
Foreign | 14,741 |  |  | 542 |  |  | (52 | ) |  | 15,231 |  |  | (1 | )
Corporate securities | 16,715 |  |  | 716 |  |  | (93 | ) |  | 17,338 |  |  | (2 | )
Mortgage-backed securities | 10,159 |  |  | 237 |  |  | (72 | ) |  | 10,324 |  |  | (1 | )
States, municipalities, and political subdivisions | 3,446 |  |  | 138 |  |  | (7 | ) |  | 3,577 |  |  | — |
| $ | 47,688 |  |  | $ | 1,703 |  |  | $ | (243 | ) |  | $ | 49,148 |  |  | $ | (4 | )
Held to maturity |  |  |  |  |  |  |  |  |
U.S. Treasury and agency | $ | 804 |  |  | $ | 16 |  |  | $ | (3 | ) |  | $ | 817 |  |  | $ | — |
Foreign | 937 |  |  | 42 |  |  | (1 | ) |  | 978 |  |  | — |
Corporate securities | 2,443 |  |  | 86 |  |  | (4 | ) |  | 2,525 |  |  | — |
Mortgage-backed securities | 2,087 |  |  | 46 |  |  | (3 | ) |  | 2,130 |  |  | — |
States, municipalities, and political subdivisions | 1,277 |  |  | 38 |  |  | (2 | ) |  | 1,313 |  |  | — |
| $ | 7,548 |  |  | $ | 228 |  |  | $ | (13 | ) |  | $ | 7,763 |  |  | $ | — |
December 31, 2013 | Amortized Cost |  |  | Gross Unrealized Appreciation |  |  | Gross Unrealized Depreciation |  |  | Fair Value |  |  | OTTI Recognized in AOCI |
(in millions of U.S. dollars) |  |  |  |
Available for sale |  |  |  |  |  |  |  |  |
U.S. Treasury and agency | $ | 2,946 |  |  | $ | 62 |  |  | $ | (59 | ) |  | $ | 2,949 |  |  | $ | — |
Foreign | 14,336 |  |  | 377 |  |  | (122 | ) |  | 14,591 |  |  | — |
Corporate securities | 16,825 |  |  | 777 |  |  | (132 | ) |  | 17,470 |  |  | (6 | )
Mortgage-backed securities | 10,937 |  |  | 184 |  |  | (227 | ) |  | 10,894 |  |  | (34 | )
States, municipalities, and political subdivisions | 3,362 |  |  | 65 |  |  | (77 | ) |  | 3,350 |  |  | — |
| $ | 48,406 |  |  | $ | 1,465 |  |  | $ | (617 | ) |  | $ | 49,254 |  |  | $ | (40 | )
Held to maturity |  |  |  |  |  |  |  |  |
U.S. Treasury and agency | $ | 820 |  |  | $ | 16 |  |  | $ | (4 | ) |  | $ | 832 |  |  | $ | — |
Foreign | 864 |  |  | 33 |  |  | — |  |  | 897 |  |  | — |
Corporate securities | 1,922 |  |  | 83 |  |  | — |  |  | 2,005 |  |  | — |
Mortgage-backed securities | 1,341 |  |  | 39 |  |  | (1 | ) |  | 1,379 |  |  | — |
States, municipalities, and political subdivisions | 1,151 |  |  | 16 |  |  | (17 | ) |  | 1,150 |  |  | — |
| $ | 6,098 |  |  | $ | 187 |  |  | $ | (22 | ) |  | $ | 6,263 |  |  | $ | — |
Schedule Of Fixed Maturities By Contractual Maturity |
|  |  | September 30 |  |  |  |  | December 31 |
|  |  | 2014 |  |  |  |  | 2013 |
(in millions of U.S. dollars) | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
Available for sale |  |  |  |  |  |  |
Due in 1 year or less | $ | 2,292 |  |  | $ | 2,316 |  |  | $ | 2,387 |  |  | $ | 2,411 |
Due after 1 year through 5 years | 14,833 |  |  | 15,310 |  |  | 14,139 |  |  | 14,602 |
Due after 5 years through 10 years | 15,872 |  |  | 16,323 |  |  | 16,200 |  |  | 16,535 |
Due after 10 years | 4,532 |  |  | 4,875 |  |  | 4,743 |  |  | 4,812 |
| 37,529 |  |  | 38,824 |  |  | 37,469 |  |  | 38,360 |
Mortgage-backed securities | 10,159 |  |  | 10,324 |  |  | 10,937 |  |  | 10,894 |
| $ | 47,688 |  |  | $ | 49,148 |  |  | $ | 48,406 |  |  | $ | 49,254 |
Held to maturity |  |  |  |  |  |  |
Due in 1 year or less | $ | 417 |  |  | $ | 421 |  |  | $ | 401 |  |  | $ | 405 |
Due after 1 year through 5 years | 2,670 |  |  | 2,763 |  |  | 2,284 |  |  | 2,363 |
Due after 5 years through 10 years | 1,401 |  |  | 1,443 |  |  | 1,686 |  |  | 1,723 |
Due after 10 years | 973 |  |  | 1,006 |  |  | 386 |  |  | 393 |
| 5,461 |  |  | 5,633 |  |  | 4,757 |  |  | 4,884 |
Mortgage-backed securities | 2,087 |  |  | 2,130 |  |  | 1,341 |  |  | 1,379 |
| $ | 7,548 |  |  | $ | 7,763 |  |  | $ | 6,098 |  |  | $ | 6,263 |
Schedule Of Cost And Fair Value Of Equity Securities |
| September 30 |  |  | December 31 |
(in millions of U.S. dollars) | 2014 |  |  | 2013 |
Cost | $ | 480 |  |  | $ | 841 |
Gross unrealized appreciation | 71 |  |  | 63 |
Gross unrealized depreciation | (5 | ) |  | (67 | )
Fair value | $ | 546 |  |  | $ | 837 |
Schedule Of Net Realized Gains (Losses) And The Losses Included In Net Realized Gains (Losses) And OCI |
| Three Months Ended |  |  | Nine Months Ended |
| September 30 |  |  | September 30 |
(in millions of U.S. dollars) | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Fixed maturities: |  |  |  |  |  |  |
OTTI on fixed maturities, gross | $ | (5 | ) |  | $ | (4 | ) |  | $ | (20 | ) |  | $ | (11 | )
OTTI on fixed maturities recognized in OCI (pre-tax) | 1 |  |  | — |  |  | 3 |  |  | — |
OTTI on fixed maturities, net | (4 | ) |  | (4 | ) |  | (17 | ) |  | (11 | )
Gross realized gains excluding OTTI | 73 |  |  | 37 |  |  | 163 |  |  | 163 |
Gross realized losses excluding OTTI | (51 | ) |  | (16 | ) |  | (97 | ) |  | (68 | )
Total fixed maturities | 18 |  |  | 17 |  |  | 49 |  |  | 84 |
Equity securities: |  |  |  |  |  |  |
OTTI on equity securities | — |  |  | — |  |  | (7 | ) |  | (1 | )
Gross realized gains excluding OTTI | 4 |  |  | 8 |  |  | 8 |  |  | 18 |
Gross realized losses excluding OTTI | (60 | ) |  | (1 | ) |  | (61 | ) |  | (4 | )
Total equity securities | (56 | ) |  | 7 |  |  | (60 | ) |  | 13 |
OTTI on other investments | — |  |  | — |  |  | (3 | ) |  | (2 | )
Foreign exchange gains (losses) | (19 | ) |  | (26 | ) |  | (42 | ) |  | 45 |
Investment and embedded derivative instruments | (13 | ) |  | 4 |  |  | (53 | ) |  | 62 |
Fair value adjustments on insurance derivative | (80 | ) |  | 134 |  |  | (126 | ) |  | 563 |
S&P put options and futures | (15 | ) |  | (95 | ) |  | (106 | ) |  | (413 | )
Other derivative instruments | 45 |  |  | (1 | ) |  | 52 |  |  | (2 | )
Other | — |  |  | — |  |  | (8 | ) |  | — |
Net realized gains (losses) | $ | (120 | ) |  | $ | 40 |  |  | $ | (297 | ) |  | $ | 350 |
Schedule Of Roll-Forward Of Pre-Tax Credit Losses Related To Fixed Maturities For Which A Portion Of OTTI Was Recognized In OCI |
| Three Months Ended |  |  | Nine Months Ended |
| September 30 |  |  | September 30 |
(in millions of U.S. dollars) | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Balance of credit losses related to securities still held – beginning of period | $ | 24 |  |  | $ | 40 |  |  | $ | 37 |  |  | $ | 43 |
Additions where no OTTI was previously recorded | 2 |  |  | 1 |  |  | 9 |  |  | 5 |
Additions where an OTTI was previously recorded | 2 |  |  | — |  |  | 5 |  |  | 3 |
Reductions for securities sold during the period | (11 | ) |  | (3 | ) |  | (34 | ) |  | (13 | )
Balance of credit losses related to securities still held – end of period | $ | 17 |  |  | $ | 38 |  |  | $ | 17 |  |  | $ | 38 |
Schedule Of Aggregate Fair Value And Gross Unrealized Loss By Length Of Time The Security Has Continuously Been In An Unrealized Loss Position |
| 0 – 12 Months |  |  | Over 12 Months |  |  | Total |
September 30, 2014 | Fair Value |  |  | Gross Unrealized Loss |  |  | Fair Value |  |  | Gross Unrealized Loss |  |  | Fair Value |  |  | Gross Unrealized Loss |
(in millions of U.S. dollars) |  |  |  |  |
U.S. Treasury and agency | $ | 439 |  |  | $ | (2 | ) |  | $ | 943 |  |  | $ | (20 | ) |  | $ | 1,382 |  |  | $ | (22 | )
Foreign | 2,420 |  |  | (34 | ) |  | 916 |  |  | (19 | ) |  | 3,336 |  |  | (53 | )
Corporate securities | 4,943 |  |  | (72 | ) |  | 854 |  |  | (25 | ) |  | 5,797 |  |  | (97 | )
Mortgage-backed securities | 2,206 |  |  | (11 | ) |  | 2,050 |  |  | (64 | ) |  | 4,256 |  |  | (75 | )
States, municipalities, and political subdivisions | 311 |  |  | (1 | ) |  | 673 |  |  | (8 | ) |  | 984 |  |  | (9 | )
Total fixed maturities | 10,319 |  |  | (120 | ) |  | 5,436 |  |  | (136 | ) |  | 15,755 |  |  | (256 | )
Equity securities | 67 |  |  | (5 | ) |  | — |  |  | — |  |  | 67 |  |  | (5 | )
Other investments | 78 |  |  | (3 | ) |  | — |  |  | — |  |  | 78 |  |  | (3 | )
Total | $ | 10,464 |  |  | $ | (128 | ) |  | $ | 5,436 |  |  | $ | (136 | ) |  | $ | 15,900 |  |  | $ | (264 | )
| 0 – 12 Months |  |  | Over 12 Months |  |  | Total |
December 31, 2013 | Fair Value |  |  | Gross Unrealized Loss |  |  | Fair Value |  |  | Gross Unrealized Loss |  |  | Fair Value |  |  | Gross Unrealized Loss |
(in millions of U.S. dollars) |  |  |  |  |
U.S. Treasury and agency | $ | 1,794 |  |  | $ | (57 | ) |  | $ | 31 |  |  | $ | (6 | ) |  | $ | 1,825 |  |  | $ | (63 | )
Foreign | 4,621 |  |  | (114 | ) |  | 201 |  |  | (8 | ) |  | 4,822 |  |  | (122 | )
Corporate securities | 3,836 |  |  | (118 | ) |  | 194 |  |  | (14 | ) |  | 4,030 |  |  | (132 | )
Mortgage-backed securities | 5,248 |  |  | (197 | ) |  | 384 |  |  | (31 | ) |  | 5,632 |  |  | (228 | )
States, municipalities, and political subdivisions | 2,164 |  |  | (90 | ) |  | 84 |  |  | (4 | ) |  | 2,248 |  |  | (94 | )
Total fixed maturities | 17,663 |  |  | (576 | ) |  | 894 |  |  | (63 | ) |  | 18,557 |  |  | (639 | )
Equity securities | 498 |  |  | (67 | ) |  | — |  |  | — |  |  | 498 |  |  | (67 | )
Other investments | 67 |  |  | (9 | ) |  | — |  |  | — |  |  | 67 |  |  | (9 | )
Total | $ | 18,228 |  |  | $ | (652 | ) |  | $ | 894 |  |  | $ | (63 | ) |  | $ | 19,122 |  |  | $ | (715 | )
Schedule Of Components Of Restricted Assets |
| September 30 |  |  | December 31 |
(in millions of U.S. dollars) | 2014 |  |  | 2013 |
Trust funds | $ | 10,497 |  |  | $ | 11,315 |
Deposits with non-U.S. regulatory authorities | 2,014 |  |  | 1,970 |
Assets pledged under repurchase agreements | 1,454 |  |  | 1,435 |
Deposits with U.S. regulatory authorities | 1,324 |  |  | 1,334 |
Other pledged assets | 435 |  |  | 391 |
| $ | 15,724 |  |  | $ | 16,445 |

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- Definition Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27340-111563 + Details
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