Ameriprise 2014 Annual Report Download - page 161
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Policyholder Account Balances,
Future Policy Benefits and Claims
GMWB and
IUL GMAB
Embedded Embedded
Derivatives Derivatives Total
(in millions)
Balance, January 1, 2013 $ 45 $ 833 $ 878
Total (gains) losses included in:
Net income 19(1) (1,617)(2) (1,598)
Issues 62 228 290
Settlements (1) (19) (20)
Balance, December 31, 2013 $ 125 $ (575) $ (450)
Changes in unrealized (gains) losses relating to liabilities held at December 31, 2013
included in:
Interest credited to fixed accounts $ 19 $ — $ 19
Benefits, claims, losses and settlement expenses (1,598) (1,598)
(1) Included in interest credited to fixed accounts in the Consolidated Statements of Operations.
(2) Included in benefits, claims, losses and settlement expenses in the Consolidated Statements of Operations.
Available-for-Sale Securities
Residential Commercial
Corporate Mortgage Mortgage Asset
Debt Backed Backed Backed Common
Securities Securities Securities Securities Stocks Total
(in millions)
Balance, January 1, 2012 $ 1,355 $ 215 $ 50 $ 189 $ 5 $ 1,814
Total gains (losses) included in:
Net income (1) (45) 1 3 — (42)(1)
Other comprehensive income 12 68 8 1 — 89
Purchases 543 309 20 — 2 874
Sales — (75) (19) (18) — (112)
Settlements (155) (56) (3) (19) — (233)
Transfers into Level 3 10 42 183 22 — 257
Transfers out of Level 3 — (174) (34) — (1) (209)
Balance, December 31, 2012 $ 1,764 $ 284 $ 206 $ 178 $ 6 $ 2,438
Changes in unrealized gains (losses) relating to assets held
at December 31, 2012 included in:
Net investment income $ (1) $ — $ 1 $ 2 $ — $ 2
(1) Included in net investment income in the Consolidated Statements of Operations.
Policyholder Account Balances,
Future Policy Benefits and Claims
GMWB and
IUL GMAB
Embedded Embedded
Derivatives Derivatives Total
(in millions)
Balance, January 1, 2012 $ — $ 1,585 $ 1,585
Total gains included in:
Net income (8)(1) (948)(2) (956)
Issues 31 188 219
Settlements —88
Transfers into Level 3 22 — 22
Balance, December 31, 2012 $ 45 $ 833 $ 878
Changes in unrealized gains relating to liabilities held at December 31, 2012 included in:
Interest credited to fixed accounts $ (8) $ — $ (8)
Benefits, claims, losses and settlement expenses — (908) (908)
(1) Included in interest credited to fixed accounts in the Consolidated Statements of Operations.
(2) Included in benefits, claims, losses and settlement expenses in the Consolidated Statements of Operations.
The increase (decrease) to pretax income of the Company’s adjustment for nonperformance risk on the fair value of its
embedded derivatives was $124 million, $(168) million and $(71) million, net of DAC, DSIC, unearned revenue
amortization and the reinsurance accrual, for the years ended December 31, 2014, 2013 and 2012, respectively.
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