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Business Dispositions and Discontinued Operations | 12 Months Ended
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Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract] |
Business Dispositions and Discontinued Operations | Business Dispositions Sale of U.K. business On May 10, 2017, the Company completed the sale of its U.K. property and casualty run-off subsidiaries, Hartford Financial Products International Limited and Downlands Liability Management Limited, in a cash transaction to Catalina Holdings U.K. Limited ("buyer"), for approximately $272, net of transaction costs. The Company's U.K. property and casualty run-off subsidiaries are included in the P&C Other Operations reporting segment. Revenues and earnings are not material to the Company's consolidated results of operations for the years ended December 31, 2017, 2016 and 2015. The sale resulted in an after-tax capital loss from the transaction of $5 on the sale for the year ended December 31, 2016. Major Classes of Assets and Liabilities Transferred by the Company to the Buyer in Connection with the Sale
| Carrying Value as of
| Closing | December 31, 2016 [2]
Assets |  |
Cash and investments | $ | 669 |  | $ | 657 |
Reinsurance recoverables and other [1] | 268 |  | 213 |
Total assets held for sale | 937 |  | 870 |
Liabilities |  |
Reserve for future policy benefits and unpaid loss and loss adjustment expenses | 653 |  | 600 |
Other liabilities | 12 |  | 11 |
Total liabilities held for sale | $ | 665 |  | $ | 611 |
[1] | Includes intercompany reinsurance recoverables of $71 as of December 31, 2016, settled in cash at closing.
[2] | Classified as assets and liabilities held for sale.
Discontinued Operations Sale of life and annuity run-off business On December 3, 2017, the Company’s wholly-owned subsidiary, Hartford Holdings, Inc. (HHI) entered into a definitive agreement to sell the Company's life and annuity run-off business, to a group of investors led by Cornell Capital LLC, Atlas Merchant Capital LLC, TRB Advisors LP, Global Atlantic Financial Group, Pine Brook and J. Safra Group. Under the terms of the sale agreement, the investor group will form a limited partnership that will acquire Hartford Life, Inc. (HLI), a holding company, and its life and annuity operating subsidiaries, for cash of approximately $1.4 billion after a pre-closing dividend to The Hartford of $300 and The Hartford will receive a 9.7% ownership interest in the limited partnership valued at a cost of $164. All equity investors of the limited partnership are restricted from selling their interest for five years. In addition, as part of the terms of the sale agreement, The Hartford will reduce its long-term debt by $142 because the debt, which was issued by HLI, will be included as part of the sale. Including cash proceeds and the retained equity interest and net of transaction costs, net proceeds for the sale are approximately $1.5 billion. In addition, The Hartford will retain estimated tax benefits of the life and annuity run-off business totaling approximately $700 based on the newly enacted tax rate of 21%. The estimated retained tax benefits, which will be available for realization subject to the level and timing of The Hartford’s taxable income, include principally $437 of net operating loss carryovers and $235 of alternative minimum tax credits. The amount of net operating loss carryovers ultimately retained will be based on the tax basis of the operations sold. As a result of The Hartford's election to retain a portion of the net operating loss carryovers of the life and annuity run-off business, the Company did not recognize a tax benefit for the loss on sale. Prior to the closing of the sale, the Company’s group benefits and mutual funds subsidiaries, which are currently subsidiaries of HLI, will be transferred from HLI to HHI and will not be part of the sale. The transaction completes The Hartford’s exit from the life and annuity run-off businesses and is anticipated to close by June 30, 2018, subject to regulatory approval and other closing conditions. The life and annuity run-off operations meet the criteria for reporting as discontinued operations and are reported in the Corporate category. For the year ended December 31, 2017, the Company has recognized an estimated loss on sale within discontinued operations of approximately $3.3 billion. Under the agreement, results from the discontinued operations inure to the buyer; therefore, the loss from discontinued operations during the period between signing and closing will remain largely unchanged as any income earned by the life and annuity run-off business will be offset by a higher loss on sale. At closing, shareholders’ equity will be further reduced for the amount of accumulated other comprehensive income (AOCI) of the life and annuity run-off business, which was approximately $1.0 billion as of December 31, 2017, largely consisting of net unrealized gains on investments, net of shadow DAC. Following the sale, the Company will manage invested assets of the life and annuity run-off business for an initial term of five years and provide transition services for an estimated period of 12 to 24 months. The following table summarizes the major classes of assets and liabilities of discontinued operations. Major Classes of Assets and Liabilities to be Transferred to the Buyer in Connection with the Sale
| Carrying Value as of 12/31/2017 | Carrying Value as of 12/31/2016
Assets |  |
Cash and investments | $ | 30,135 |  | $ | 31,433 |
Reinsurance recoverables | 20,785 |  | 20,364 |
Loss accrual [1] | (3,257 | ) | — |
Other assets | 1,439 |  | 688 |
Separate account assets | 115,834 |  | 115,665 |
Total assets held for sale | 164,936 |  | 168,150 |
Liabilities |  |
Reserve for future policy benefits and unpaid loss and loss adjustment expenses | $ | 14,482 |  | $ | 13,609 |
Other policyholder funds and benefits payable | 29,228 |  | 30,574 |
Long-term debt | 142 |  | 142 |
Other liabilities | 2,756 |  | 2,933 |
Separate account liabilities | 115,834 |  | 115,665 |
Total liabilities held for sale | $ | 162,442 |  | $ | 162,923 |
[1] | Represents the estimated accrued loss on sale of the Company's life and annuity run-off business.
To settle outstanding claims, the Company’s property and casualty operations previously bought structured settlements from the life and annuity run-off business held for sale. As of December 31, 2017 and 2016, the Company had $688 and $712, respectively, of liabilities for structured settlements in cases where the Company did not obtain a release of liability from the claimant which are included in liabilities held for sale. As the life and annuity run-off business will become a third party to the Company upon closing of the sale, as of December 31, 2017 and 2016, the accompanying consolidated balance sheets include a reinsurance recoverable from the life and annuity run-off business of $688 and $712, respectively, with corresponding unpaid loss and loss adjustment expense reserves of $688 and $712, respectively, representing the Company’s direct obligation to claimants. The Hartford has guaranteed the obligations of certain life, accident and health and annuity contracts of the life and annuity run-off business written by Hartford Life Insurance Company ("HLIC") between 1990 and 1997and written by Hartford Life and Annuity Insurance Company ("HLAIC") between 1993 and 2009. After the sale closes, HLIC, HLAIC and the purchaser will indemnify the Company for any liability arising under the guarantees. The guarantees have no limitation as to maximum potential future payments. The Hartford has not recorded a liability and the likelihood for any payments under these guarantees is remote. Reconciliation of the Major Line Items Constituting Pretax Profit (Loss) of Discontinued Operations
| For the years ended December 31,
| 2017 | 2016 | 2015
Revenues |  |  |
Earned premiums | $ | 106 |  | $ | 114 |  | $ | 92 |
Fee income and other | 912 |  | 931 |  | 1,040 |
Net investment income | 1,289 |  | 1,384 |  | 1,469 |
Net realized capital losses | (53 | ) | (158 | ) | (144 | )
Total revenues | 2,254 |  | 2,271 |  | 2,457 |
Benefits, losses and expenses |  |  |  |
Benefits, losses and loss adjustment expenses | 1,416 |  | 1,390 |  | 1,450 |
Amortization of DAC | 45 |  | 146 |  | 138 |
Insurance operating costs and other expenses [1] | 368 |  | 378 |  | 367 |
Total benefits, losses and expenses | 1,829 |  | 1,914 |  | 1,955 |
Income before income taxes | 425 |  | 357 |  | 502 |
Income tax expense | 37 |  | 74 |  | 16 |
Income from operations of discontinued operations, net of tax | 388 |  | 283 |  | 486 |
Net realized capital loss on disposal, net of tax | (3,257 | ) | — |  | — |
(Loss) income from discontinued operations, net of tax | $ | (2,869 | ) | $ | 283 |  | $ | 486 |
[1]Corporate allocated overhead has been included in continuing operations. Cash flows from discontinued operations included in the Consolidated Statement of Cash Flows were as follows: Cash Flows from Discontinued Operations
| Year Ended December 31,
| 2017 | 2016 | 2015
Net cash provided by operating activities from discontinued operations | $ | 797 |  | $ | 784 |  | $ | 682 |
Net cash provided by investing activities from discontinued operations | $ | 1,466 |  | $ | 864 |  | $ | 1,446 |
Net cash used in financing activities from discontinued operations [1] | $ | (884 | ) | $ | (647 | ) | $ | (1,080 | )
Cash paid for interest | $ | 11 |  | $ | 11 |  | $ | 11 |
[1] | Excludes return of capital to parent of $1,396, $752, and $1,001 for 2017, 2016 and 2015, respectively.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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