v3.8.0.1
Value of Business Acquired
12 Months Ended
Dec. 31, 2017
Present Value of Future Insurance Profits [Abstract]  
Value of Business Acquired
VALUE OF BUSINESS ACQUIRED
 
The balances of and changes in VOBA as of and for the years ended December 31, are as follows:
 
 
2017
 
2016
 
2015
 
(in millions)
Balance, beginning of year
$
2,314

 
$
2,828

 
$
2,836

Amortization—Impact of assumption and experience unlocking and true-ups
(56
)
 
(246
)
 
128

Amortization—All other
(311
)
 
(351
)
 
(385
)
Change in unrealized investment gains and losses
(456
)
 
(112
)
 
214

Interest
75

 
81

 
86

Foreign currency translation
25

 
114

 
(57
)
Other
0

 
0

 
6

Balance, end of year
$
1,591

 
$
2,314

 
$
2,828


 
The following table provides VOBA balances and the weighted average remaining expected life for the year ended December 31, 2017.

 
VOBA
Balance
 
Weighted Average Remaining Expected Life In Years
 
($ in millions)
 
 
CIGNA
$
223

 
12
Prudential Annuities Holding Co.
$
38

 
5
Gibraltar Life
$
1,178

 
9
Aoba Life
$
0

 
7
The Hartford Life Business
$
145

 
9
Gibraltar BSN Life Berhad
$
7

 
8

The following table provides the interest accrual rates varying by acquisition for the years ended December 31.

 
2017
 
2016
 
2015
CIGNA
 
 
6.40%
 
 
 
6.40%
 
 
 
6.40%
Prudential Annuities Holding Co.
 
 
5.96%
 
 
 
6.00%
 
 
 
6.05%
Gibraltar Life
1.28%
to
2.87%
 
1.28%
to
2.87%
 
1.28%
to
2.87%
Aoba Life
 
 
2.60%
 
 
 
2.60%
 
 
 
2.60%
The Hartford Life Business
3.00%
to
6.17%
 
3.00%
to
6.17%
 
3.00%
to
6.17%
Gibraltar BSN Life Berhad
4.07%
to
5.51%
 
4.07%
to
5.51%
 
4.07%
to
5.51%


The following table provides estimated future amortization, net of interest, for the periods indicated.
 
 
2018
 
2019
 
2020
 
2021
 
2022
 
(in millions)
Estimated future VOBA amortization
$
204

 
$
182

 
$
164

 
$
152

 
$
138