Ameriprise 2006 Annual Report Download - page 86

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The liabilities for guaranteed benefits are supported by general
account assets. Changes in these liabilities are included in
benefits, claims, losses and settlement expenses.
Contract values in separate accounts were invested in various
equity, bond and other funds as directed by the contractholder.
No gains or losses were recognized on assets transferred to
separate accounts for the periods presented.
14. Customer Deposits
Customer deposits consisted of the following:
December 31,
2006 2005
(in millions)
Fixed rate certificates $ 3,540 $ 3,687
Stock market based certificates 1,041 1,094
Stock market embedded derivative reserve 48 36
Certificates marketed through
American Express 4732
Other 87 100
Less: accrued interest classified in
other liabilities (42) (31)
Total investment certificate reserves 4,678 5,618
Brokerage deposits 994 1,023
Banking deposits 853 —
Total $ 6,525 $ 6,641
December 31,
Variable Annuity Guarantees by Benefit Type(1) 2006 2005
(in millions, except age)
Contracts with GMWB for life:
Total contract value $ 2,396 $—
Contract value in separate accounts $ 2,349 $—
Benefit amount in excess of account value $— $—
Weighted average attained age 63 —
Contracts with GMAB:
Total contract value $ 1,350 $ 161
Contract value in separate accounts $ 1,340 $ 161
Benefit amount in excess of account value $— $1
Weighted average attained age 55 56
(1) Individual variable annuity contracts may have more than one guarantee and therefore may be included in more than one benefit type.
(2) Represents current death benefit less total contract value for GMDB, amount of gross up for GGU and accumulated guaranteed minimum benefit base
less total contract value for GMIB and assumes the actuarially remote scenario that all claims become payable on the same day.
Additional liabilities (assets) and incurred claims (adjustments) were:
Year Ended December 31, 2006
GMDB &
GGU GMIB GMWB GMAB
(in millions)
Liability balance at January 1 $16 $ 4 $ 9 $ 1
Reported claims 8———
Liability (asset) balance at December 31 26 5 (12) (5)
Incurred claims (adjustments) (sum of reported and change in liability (asset)) 18 1 (21) (6)
Year Ended December 31, 2005
GMDB &
GGU GMIB GMWB GMAB
(in millions)
Liability balance at January 1 $29 $ 3 $ 1 $—
Reported claims 12———
Liability balance at December 31 16491
Incurred claims (adjustments) (sum of reported and change in liability) (1) 1 8 1
84 Ameriprise Financial, Inc. 2006 Annual Report