The Protection segment offers a variety of products to address the protection and risk management needs of the Company’s retail clients including life, DI and property casualty insurance.
Life and DI products are primarily provided through the Company’s advisors.
The Company’s property casualty products are sold through affinity relationships.
The Company issues insurance policies through its life insurance subsidiaries and the Property Casualty companies.
The primary sources of revenues for this segment are premiums, fees, and charges that the Company receives to assume insurancerelated risk.
The Company earns net investment income on owned assets supporting insurance reserves and capital supporting the business.
The Company also receives fees based on the level of assets supporting VUL separate account balances.
This segment earns intersegment revenues from fees paid by the Asset Management segment for marketing support and other services provided in connection with the availability of VIT Funds under the VUL contracts.
Intersegment expenses for this segment include distribution expenses for services provided by the Advice & Wealth Management segment, as well as expenses for investment management services provided by the Asset Management segment.
The Corporate & Other segment consists of net investment income or loss on corporate level assets, including excess capital held in the Company’s subsidiaries and other unallocated equity and other revenues as well as unallocated corporate expenses.
The Corporate & Other segment also includes revenues and expenses of consolidated investment entities, which are excluded on an operating basis.
Management uses segment operating measures in goal setting, as a basis for determining employee compensation and in evaluating performance on a basis comparable to that used by some securities analysts and investors.
Consistent with GAAP accounting guidance for segment reporting, operating earnings is the Company’s measure of segment performance.
Operating earnings should not be viewed as a substitute for GAAP income from continuing operations before income tax provision.
The Company believes the presentation of segment operating earnings, as the Company measures it for management purposes, enhances the understanding of its business by reflecting the underlying performance of its core operations and facilitating a more meaningful trend analysis.
Operating earnings is defined as operating net revenues less operating expenses.
Operating net revenues and operating expenses exclude the results of discontinued operations, the market impact on IUL benefits (net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual), integration and restructuring charges and the impact of consolidating investment entities.
Operating net revenues also exclude net realized gains or losses.
Operating expenses also exclude the market impact on variable annuity guaranteed benefits (net of hedges and the related DSIC and DAC amortization).
The market impact on variable annuity guaranteed benefits and IUL benefits includes changes in embedded derivative values caused by changes in financial market conditions, net of changes in economic hedge values and unhedged items including the difference between assumed and actual underlying separate account investment performance, fixed income credit exposures, transaction costs and certain policyholder contract elections, net of related impacts on DAC and DSIC amortization.
The market impact also includes certain valuation adjustments made in accordance with FASB Accounting Standards Codification 820, Fair Value Measurements and Disclosures, including the impact on embedded derivative values of discounting projected benefits to reflect a current estimate of the Company’s life insurance subsidiary’s nonperformance spread.
Integration and restructuring charges primarily relate to the Company’s acquisition of the long-term asset management business of Columbia Management Group on April 30, 2010.
The costs include system integration costs, proxy and other regulatory filing costs, employee reduction and retention costs and investment banking, legal and other acquisition costs.
Beginning in the second quarter of 2012, integration and restructuring charges also include expenses related to the Company’s transition of its federal savings bank subsidiary, Ameriprise Bank, FSB, to a limited powers national trust bank.
The following tables summarize selected financial information by segment and reconcile segment totals to those reported on the consolidated financial statements:
## Table 0 ##
clients’ brokerage accounts.
We generally record revenues received from administered assets as distribution fees.
We do not exercise management discretion over these assets and do not earn a management fee.
These assets are not reported on our Consolidated Balance Sheets.
AUA also includes certain assets on our Consolidated Balance Sheets for which we do not provide investment management services and do not recognize management fees, such as investments in non-affiliated funds held in the separate accounts of our life insurance subsidiaries.
These assets do not include assets under advisement, for which we provide model portfolios but do not have full discretionary investment authority.
The following table presents detail regarding our AUM and AUA:
## Table 1 ##
Total AUM increased $24.3 billion, or 4%, to $658.6 billion as of December 31, 2014 compared to $634.3 billion as of December 31, 2013 due to a $21.0 billion increase in Advice & Wealth Management AUM driven by wrap account net inflows and market appreciation and a $4.8 billion increase in Asset Management AUM primarily driven by market appreciation, partially offset by retail fund distributions.
See our segment results of operations discussion below for additional information on changes in our AUM.
Consolidated Results of Operations Year Ended December 31, 2014 Compared to Year Ended December 31, 2013 The following table presents our consolidated results of operations:
## Table 2 ##
NM Not Meaningful.
Overall Income from continuing operations before income tax provision increased $577 million, or 29%, to $2.5 billion for the year ended December 31, 2014 compared to $2.0 billion for the prior year primarily reflecting the impact of market appreciation, wrap account net inflows, an increase in net income from CIEs and the market impact on variable annuity guaranteed benefits (net of hedges and the related DSIC and DAC amortization), partially offset by a $109 million decrease from unlocking, asset management retail fund distributions and higher auto and home claim and claim adjustment expense.
The market impact on variable annuity guaranteed benefits (net of hedges and the related DSIC and DAC amortization) was an expense of $94 million for the year ended December 31, 2014 compared to an expense of $170 million for the prior year, which included a $17 million benefit associated with unlocking.
The following table presents the total pretax impacts on our revenues and expenses attributable to unlocking for the years ended December 31:
## Table 3 ##
(1) Includes a $17 million net benefit related to the market impact on variable annuity guaranteed benefits for the year ended December 31, 2013.
Net Revenues Net revenues increased $1.1 billion, or 10%, to $12.3 billion for the year ended December 31, 2014 compared to $11.2 billion for the prior year primarily due to higher management and financial advice fees and other revenues.
Management and financial advice fees increased $557 million, or 11%, to $5.8 billion for the year ended December 31, 2014 compared to $5.3 billion for the prior year primarily due to higher asset-based fees driven by an increase in average AUM.
Average AUM increased $58.0 billion, or 10%, compared to the prior year primarily due to market appreciation and wrap account net inflows.
See our discussion on the changes in AUM in our segment results of operations section below.
Distribution fees increased $123 million, or 7%, to $1.9 billion for the year ended December 31, 2014 compared to $1.8 billion for the prior year due to higher client assets, as well as increased client activity.
Net investment income decreased $148 million, or 8%, to $1.7 billion for the year ended December 31, 2014 compared to $1.9 billion for the prior year primarily due to a $96 million decrease in investment income on fixed maturities driven by low interest rates and a $63 million decrease in net investment income of CIEs, partially offset by a $30 million increase in net realized gains primarily related to calls on fixed income securities.
Premiums increased $103 million, or 8%, to $1.4 billion for the year ended December 31, 2014 compared to $1.3 billion for the prior year primarily due to growth in auto and home premiums driven by continued new policy sales growth, primarily from our affinity relationships with Costco and Progressive.
Auto and home policies in force increased 11% compared to the prior year.
Other revenues increased $431 million, or 42%, to $1.5 billion for the year ended December 31, 2014 compared to $1.0 billion for the prior year due to a $376 million increase in other revenues of CIEs and higher fees from variable annuity guarantee sales in the prior year where the fees start on the first anniversary date, and higher average fee rates, partially offset by the impact of unlocking.
Other revenues for the year ended December 31, 2014 included a $29 million negative impact from unlocking compared to an $18 million negative impact in the prior year.
The primary driver of the unlocking impact to other revenues in both periods was lower projected gains on reinsurance contracts resulting from favorable mortality experience.
Expenses Total expenses increased $492 million, or 5%, to $9.7 billion for the year ended December 31, 2014 compared to $9.2 billion for the prior year primarily due to increases in distribution expenses and amortization of DAC.
Distribution expenses increased $311 million, or 11%, to $3.2 billion for the year ended December 31, 2014 compared to $2.9 billion for the prior year driven by higher advisor compensation due to growth in assets under management.
See our discussion on the changes in AUM in our segment results of operations section below.
Interest credited to fixed accounts decreased $93 million, or 12%, to $713 million for the year ended December 31, 2014 compared to $806 million for the prior year driven by lower average fixed annuity account balances and a lower
Performance Share Awards The vesting of PSAs is contingent upon meeting various individual, divisional or company-wide performance conditions, including revenue generation or growth in revenue, pretax income or earnings per share over a one- to five-year period.
The performance conditions are not considered in the determination of the grant date fair value for these awards.
The fair value of PSAs is based upon the market price of the Aon common stock at the date of grant.
Compensation expense is recognized over the performance period, and in certain cases an additional vesting period, based on management’s estimate of the number of units expected to vest.
Compensation expense is adjusted to reflect the actual number of shares issued at the end of the programs.
The actual issuance of shares may range from 0-200% of the target number of PSAs granted, based on the plan.
Dividend equivalents are not paid on PSAs.
Information regarding PSAs granted during the years ended December 31, 2011, 2010 and 2009 follows (shares in thousands, dollars in millions, except fair value):

<table><tr><td></td><td colspan="2">December 31,</td></tr><tr><td></td><td>2014</td><td>2013</td></tr><tr><td></td><td colspan="2">(in millions)</td></tr><tr><td>Advice & Wealth Management</td><td>$10,220</td><td>$9,571</td></tr><tr><td>Asset Management</td><td>7,509</td><td>7,223</td></tr><tr><td>Annuities</td><td>98,535</td><td>98,354</td></tr><tr><td>Protection</td><td>20,779</td><td>19,605</td></tr><tr><td>Corporate & Other</td><td>11,767</td><td>9,823</td></tr><tr><td>Total assets</td><td>$148,810</td><td>$144,576</td></tr></table>
<table><tr><td></td><td colspan="2">December 31,</td><td colspan="2"></td></tr><tr><td></td><td>2014</td><td>2013</td><td colspan="2">Change</td></tr><tr><td></td><td colspan="3">(in billions)</td><td></td></tr><tr><td>Assets Under Management and Administration</td><td></td><td></td><td></td><td></td></tr><tr><td>Advice & Wealth Management AUM</td><td>$174.1</td><td>$153.1</td><td>$21.0</td><td>14%</td></tr><tr><td>Asset Management AUM</td><td>505.6</td><td>500.8</td><td>4.8</td><td>1</td></tr><tr><td>Corporate & Other AUM</td><td>0.8</td><td>0.9</td><td>-0.1</td><td>-11</td></tr><tr><td>Eliminations</td><td>-21.9</td><td>-20.5</td><td>-1.4</td><td>-7</td></tr><tr><td>Total Assets Under Management</td><td>658.6</td><td>634.3</td><td>24.3</td><td>4</td></tr><tr><td>Total Assets Under Administration</td><td>147.6</td><td>137.0</td><td>10.6</td><td>8</td></tr><tr><td>Total AUM and AUA</td><td>$806.2</td><td>$771.3</td><td>$34.9</td><td>5%</td></tr></table>
<table><tr><td></td><td colspan="2">Years Ended December 31,</td><td colspan="2"></td></tr><tr><td></td><td>2014</td><td>2013</td><td colspan="2">Change</td></tr><tr><td></td><td colspan="3">(in millions)</td><td></td></tr><tr><td>Revenues</td><td></td><td></td><td></td><td></td></tr><tr><td>Management and financial advice fees</td><td>$5,810</td><td>$5,253</td><td>$557</td><td>11%</td></tr><tr><td>Distribution fees</td><td>1,894</td><td>1,771</td><td>123</td><td>7</td></tr><tr><td>Net investment income</td><td>1,741</td><td>1,889</td><td>-148</td><td>-8</td></tr><tr><td>Premiums</td><td>1,385</td><td>1,282</td><td>103</td><td>8</td></tr><tr><td>Other revenues</td><td>1,466</td><td>1,035</td><td>431</td><td>42</td></tr><tr><td>Total revenues</td><td>12,296</td><td>11,230</td><td>1,066</td><td>9</td></tr><tr><td>Banking and deposit interest expense</td><td>28</td><td>31</td><td>-3</td><td>-10</td></tr><tr><td>Total net revenues</td><td>12,268</td><td>11,199</td><td>1,069</td><td>10</td></tr><tr><td>Expenses</td><td></td><td></td><td></td><td></td></tr><tr><td>Distribution expenses</td><td>3,236</td><td>2,925</td><td>311</td><td>11</td></tr><tr><td>Interest credited to fixed accounts</td><td>713</td><td>806</td><td>-93</td><td>-12</td></tr><tr><td>Benefits, claims, losses and settlement expenses</td><td>1,982</td><td>1,954</td><td>28</td><td>1</td></tr><tr><td>Amortization of deferred acquisition costs</td><td>367</td><td>207</td><td>160</td><td>77</td></tr><tr><td>Interest and debt expense</td><td>328</td><td>281</td><td>47</td><td>17</td></tr><tr><td>General and administrative expense</td><td>3,095</td><td>3,056</td><td>39</td><td>1</td></tr><tr><td>Total expenses</td><td>9,721</td><td>9,229</td><td>492</td><td>5</td></tr><tr><td>Income from continuing operations before income tax provision</td><td>2,547</td><td>1,970</td><td>577</td><td>29</td></tr><tr><td>Income tax provision</td><td>545</td><td>492</td><td>53</td><td>11</td></tr><tr><td>Income from continuing operations</td><td>2,002</td><td>1,478</td><td>524</td><td>35</td></tr><tr><td>Loss from discontinued operations, net of tax</td><td>-2</td><td>-3</td><td>1</td><td>33</td></tr><tr><td>Net income</td><td>2,000</td><td>1,475</td><td>525</td><td>36</td></tr><tr><td>Less: Net income attributable to noncontrolling interests</td><td>381</td><td>141</td><td>240</td><td>NM</td></tr><tr><td>Net income attributable to Ameriprise Financial</td><td>$1,619</td><td>$1,334</td><td>$285</td><td>21%</td></tr></table>
<table><tr><td>Pretax Increase (Decrease)</td><td>2014</td><td>2013</td></tr><tr><td></td><td colspan="2">(in millions)</td></tr><tr><td>Other revenues</td><td>$-29</td><td>$-18</td></tr><tr><td>Benefits, claims, losses and settlement expenses</td><td>6</td><td>-5</td></tr><tr><td>Amortization of DAC</td><td>8</td><td>-79</td></tr><tr><td>Total expenses</td><td>14</td><td>-84</td></tr><tr><td>Total<sup>-1</sup></td><td>$-43</td><td>$66</td></tr></table>

Question: If Premiums develops with the same growth rate in 2014, what will it reach in 2015? (in dollars in millions)
Answer: 1495.8