Aetna 2015 Annual Report Download - page 114
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Annual Report- Page 108
Mortgage Loans
Our mortgage loans are collateralized by commercial real estate. During 2015 and 2014 we had the following
activity in our mortgage loan portfolio:
(Millions) 2015 2014
New mortgage loans $ 212.6 $ 217.0
Mortgage loans fully-repaid 163.1 133.7
Mortgage loans foreclosed 9.0 —
At December 31, 2015 and 2014, we had no material problem, restructured or potential problem mortgage loans.
We also had no material impairment reserves on these loans at December 31, 2015 or 2014.
We assess our mortgage loans on a regular basis for credit impairments, and annually assign a credit quality
indicator to each loan. Our credit quality indicator is internally developed and categorizes our portfolio on a scale
from 1 to 7. Category 1 represents loans of superior quality, and Category 7 represents loans where collections are
potentially at risk. The vast majority of our mortgage loans fall into the Category 2 to 4 ratings. These ratings
represent loans where credit risk is minimal to acceptable; however, these loans may display some susceptibility to
economic changes. Categories 5 and 6 represent loans where credit risk is not substantial but these loans warrant
management’s close attention. These indicators are based upon several factors, including current loan to value
ratios, property condition, market trends, creditworthiness of the borrower and deal structure. Based upon our most
recent assessments at December 31, 2015 and 2014, our mortgage loans were given the following credit quality
indicators:
(In Millions, except credit ratings indicator) 2015 2014
1$ 65.8 $ 59.7
2 to 4 1,466.9 1,443.4
5 and 6 21.0 31.2
7—27.9
Total $ 1,553.7 $ 1,562.2
At December 31, 2015 scheduled mortgage loan principal repayments were as follows:
(Millions)
2016 $ 126.9
2017 196.9
2018 225.2
2019 114.0
2020 184.0
Thereafter 706.7