The Hartford 2015 Annual Report Download - page 196

Table of Contents THE HARTFORD FINANCIAL SERVICES GROUP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
9. Separate Accounts, Death Benefits and Other Insurance Benefit Features
F-65
U.S. GMDB/GMWB, International GMDB/GMIB, and Universal Life Secondary Guarantee Benefits
Changes in the gross U.S. GMDB/GMWB, International GMDB/GMIB, and universal life secondary guarantee benefits are as follows:
U.S. GMDB/GMWB [1] Universal Life Secondary Guarantees
Liability balance as of January 1, 2015 $ 812 $ 2,041
Incurred [2] 163 272
Paid (112) —
Liability balance as of December 31, 2015 $ 863 $ 2,313
Reinsurance recoverable asset, as of January 1, 2015 $ 481 $ 2,041
Incurred [2] 131 272
Paid (89) —
Reinsurance recoverable asset, as of December 31, 2015 $ 523 $ 2,313
U.S. GMDB/
GMWB [1] International GMDB/GMIB
Universal Life
Secondary
Guarantees
Liability balance as of January 1, 2014 $ 849 $ 272 $ 1,802
Incurred [2] 73 (13) 239
Paid (110)(15) —
Impact of HLIKK business disposition — (254) —
Currency translation adjustment — 10 —
Liability balance as of December 31, 2014 $ 812 $ — $ 2,041
Reinsurance recoverable asset, as of January 1, 2014 $ 533 $ 23 $ 1,802
Incurred [2] 33 7 239
Paid (85)(4) —
Impact of HLIKK business disposition — (27) —
Currency translation adjustment — 1 —
Reinsurance recoverable asset, as of December 31, 2014 $ 481 $ — $ 2,041
[1] These liability balances include all GMDB benefits, plus the life-contingent portion of GMWB benefits in excess of the return of the GRB. GMWB
benefits up to the return of the GRB are embedded derivatives held at fair value and are excluded from these balances.
[2] Includes the portion of assessments established as additions to reserves as well as changes in estimates affecting the reserves.