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Business Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2017
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | Fair Value of the Consideration Transferred at the Acquisition Date
Cash | $ | 19 |
Contingent consideration | 23 |
Total | $ | 42 |
Fair Value of Assets Acquired and Liabilities Assumed at the Acquisition Date
| As of July 29, 2016
Assets |
Intangible assets [1] | $ | 11 |
Cash | 1 |
Total assets acquired | 12 |
Liabilities |
Total liabilities assumed | 1 |
Net identifiable assets acquired | 11 |
Goodwill [2] | 31 |
Net assets acquired | $ | 42 |
[1] | Comprised of indefinite lived intangibles of $10 related to customer relationships and $1 of other intangibles, which are amortizable over 5 to 8 years.
[2] | Deductible for federal income tax purposes.
Fair Value of Assets Acquired and Liabilities Assumed at the Acquisition Date
| As of July 29, 2016
Assets |
Cash and investments (including cash of $12) | $ | 274 |
Reinsurance recoverables | 113 |
Intangible assets [1] | 11 |
Other assets | 79 |
Total assets acquired | 477 |
Liabilities |
Unpaid losses | 235 |
Unearned premiums | 77 |
Other liabilities | 34 |
Total liabilities assumed | 346 |
Net identifiable assets acquired | 131 |
Goodwill [2] | 38 |
Net assets acquired | $ | 169 |
[1] | Comprised of indefinite lived intangibles of $4 related to state insurance licenses acquired and other intangibles of $7 related to agency distribution relationships of Maxum which will amortize over 10 years.
[2] | Non-deductible for income tax purposes
| As of November 1, 2017
Assets |
Cash and invested assets | $ | 3,360 |
Premiums receivable | 96 |
Deferred income taxes, net | 56 |
Other intangible assets | 629 |
Property and equipment | 68 |
Other assets | 16 |
Total Assets Acquired | 4,225 |
Liabilities |
Unpaid losses and loss adjustment expenses | 2,833 |
Reserve for future policy benefits | 346 |
Other policyholder funds and benefits payable | 245 |
Unearned premiums | 3 |
Other liabilities | 69 |
Total Liabilities Assumed | 3,496 |
Net identifiable assets acquired | 729 |
Goodwill [1] | 723 |
Net Assets Acquired | $ | 1,452 |
[1] | Approximately $623 is deductible for income tax purposes.
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | Intangible Assets Recorded in Connection with the Acquisition
Asset | Amount | Estimated Useful Life
Value of in-force contracts | $ | 23 |  | 1 year
Customer relationships | 590 |  | 15 years
Marketing agreement with Aetna | 16 |  | 15 years
Total | $ | 629 |  |
Business Acquisition, Pro Forma Information | The following table presents supplemental unaudited pro forma amounts of revenue and net income for the Company in 2016 and 2017 as though the business was acquired on January 1, 2016. Pro forma adjustments include the revenue and earnings of the Aetna U.S. group life and disability business for each period as well as amortization of identifiable intangible assets acquired and of the fair value adjustment to acquired insurance reserves. Pro forma adjustments do not include retrospective adjustments to defer and amortize acquisition costs as would be recorded under the Company’s accounting policy. Pro Forma Results
| Revenue | Earnings
2017 Supplemental (unaudited) combined pro forma | $ | 18,899 |  | $ | (3,077 | )
2016 Supplemental (unaudited) combined pro forma | $ | 18,348 |  | $ | 953 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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