CONSUMER INSURANCE Consumer Insurance Results The following table presents Consumer Insurance results:
## Table 0 ##
* Includes general operating expenses, non deferrable commissions, other acquisition expenses, advisory fee expenses and other expenses.
Consumer Insurance Results by Operating Segment Consumer Insurance presents its operating results in three operating segments – Retirement, Life and Personal Insurance.
The following section provides a comparative discussion of Consumer Insurance Results of Operations for 2015, 2014 and 2013 by operating segment.
Retirement Results The following table presents Retirement results:
## Table 1 ##
ITEM 7 / RESULTS OF OPERATIONS / CONSUMER INSURANCE * Severe losses are defined as non-catastrophe individual first party losses and surety losses greater than $10 million, net of related reinsurance and salvage and subrogation.2015 and 2014 Comparison The combined ratio increased by 1.4 points in 2015 compared to 2014, reflecting an increase in the loss ratio and acquisition ratio, partially offset by a decrease in the general operating expense ratio.
The accident year combined ratio, as adjusted, increased by 0.7 points in 2015 compared to 2014.
The accident year loss ratio, as adjusted, increased by 0.2 points in 2015, compared to 2014, due to higher large but not severe losses in automobile and personal property businesses, partially offset by a decrease in losses in warranty service programs and lower severe losses.
The loss ratio improvement in warranty service programs was offset by an increase in the acquisition ratio due to a related profit sharing arrangement.
The acquisition ratio increased by 1.1 points in 2015 compared to 2014, primarily due to increases in acquisition costs in warranty service programs and in the automobile business, partially offset by lower direct marketing expenses in the Accident and Health business.
The general operating expense ratio decreased by 0.6 points in 2015 compared to 2014, reflecting an ongoing focus on cost efficiency.2014 and 2013 Comparison The combined ratio decreased by 1.6 points in 2014 compared to 2013, primarily due to a lower loss ratio, partially offset by a higher acquisition ratio as discussed below.
The accident year combined ratio, as adjusted, decreased by 2.6 points in 2014 compared to 2013, primarily due to an improved accident year loss ratio, as adjusted.
The accident year loss ratio, as adjusted, decreased by 3.6 points in 2014 compared to 2013, as a result of improvements across all lines of business.
The lower losses associated with a warranty retail program were largely offset by an increase in the related profit sharing arrangement, which increased the acquisition ratio in 2014 compared to 2013.
The severe losses of $54 million, resulting largely from four fire claims, accounted for 0.5 points of the accident year loss ratio, as adjusted, in 2014.
The general operating expense ratio remained unchanged in 2014 compared to 2013, reflecting the impact of efficiencies from organizational realignment initiatives, offset by increased technology-related expenses.
CORPORATE AND OTHER Corporate and Other Results The following table presents AIG’s Corporate and Other results:
## Table 2 ##
ITEM 8 / NOTE 6.
LENDING ACTIVITIES the troubled debtor, the modification is a troubled debt restructuring (TDR).
We assess whether a borrower is experiencing financial difficulty based on a variety of factors, including the borrower’s current default on any of its outstanding debt, the probability of a default on any of its debt in the foreseeable future without the modification, the insufficiency of the borrower’s forecasted cash flows to service any of its outstanding debt (including both principal and interest), and the borrower’s inability to access alternative third-party financing at an interest rate that would be reflective of current market conditions for a nontroubled debtor.
Concessions granted may include extended maturity dates, interest rate changes, principal or interest forgiveness, payment deferrals and easing of loan covenants.
During 2015 and 2014, loans with a carrying value of $36 million and $218 million were modified in TDRs, respectively.7.
REINSURANCE In the ordinary course of business, our insurance companies may use both treaty and facultative reinsurance to minimize their net loss exposure to any single catastrophic loss event or to an accumulation of losses from a number of smaller events or to provide greater diversification of our businesses.
In addition, our general insurance subsidiaries assume reinsurance from other insurance companies.
We determine the portion of the incurred but not reported (IBNR) loss that will be recoverable under our reinsurance contracts by reference to the terms of the reinsurance protection purchased.
This determination is necessarily based on the estimate of IBNR and accordingly, is subject to the same uncertainties as the estimate of IBNR.
Reinsurance assets include the balances due from reinsurance and insurance companies under the terms of our reinsurance agreements for paid and unpaid losses and loss adjustment expenses incurred, ceded unearned premiums and ceded future policy benefits for life and accident and health insurance contracts and benefits paid and unpaid.
Amounts related to paid and unpaid losses and benefits and loss expenses with respect to these reinsurance agreements are substantially collateralized.
We remain liable to the extent that our reinsurers do not meet their obligation under the reinsurance contracts, and as such, we regularly evaluate the financial condition of our reinsurers and monitor concentration of our credit risk.
The estimation of the allowance for doubtful accounts requires judgment for which key inputs typically include historical trends regarding uncollectible balances, disputes and credit events as well as specific reviews of balances in dispute or subject to credit impairment.
The allowance for doubtful accounts on reinsurance assets was $272 million and $258 million at December 31, 2015 and 2014, respectively.
Changes in the allowance for doubtful accounts on reinsurance assets are reflected in Policyholder benefits and losses incurred within the Consolidated Statements of Income.
The following table provides supplemental information for loss and benefit reserves, gross and net of ceded reinsurance:
## Table 3 ##
(a) In 2015 and 2014, the Net of Reinsurance amount reflects the cession under the June 17, 2011 transaction with National Indemnity Company (NICO) of $1.8 billion and $1.5 billion, respectively.
(b) Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses.
Short-Duration Reinsurance Short-duration reinsurance is effected under reinsurance treaties and by negotiation on individual risks.
Certain of these reinsurance arrangements consist of excess of loss contracts that protect us against losses above stipulated amounts.
Ceded premiums are considered prepaid reinsurance premiums and are recognized as a reduction of premiums earned over the contract period in proportion to the protection received.
Amounts recoverable from reinsurers on short-duration contracts are estimated in a manner consistent with the claims liabilities associated with the reinsurance and presented as a component of Reinsurance assets.
Assumed reinsurance premiums are earned primarily on a pro-rata basis over the terms of the
ITEM 8 / NOTE 19.
SHARE-BASED AND OTHER COMPENSATION PLANS Our non-employee directors, who serve on our Board of Directors, receive share-based compensation in the form of fully vested deferred stock units (DSUs) with delivery deferred until retirement from the Board.
DSUs granted in 2015, 2014 and 2013 accrue DEUs equal to the amount of any regular quarterly dividend that would have been paid by AIG if the shares of AIG Common Stock underlying the DSUs had been outstanding.
In 2015, 2014 and 2013, we granted to non-employee directors 32,342, 28,477 and 25,735 DSUs, respectively, under the 2013 Plan, and recognized expense of $1.9 million, $1.5 million and $1.2 million, respectively.
Stock Options Options granted under the AIG 2007 Stock Incentive Plan and the 1999 Stock Option Plan generally vested over four years (25 percent vesting per year) and expire 10 years from the date of grant.
All outstanding options are vested and out of the money at December 31, 2015.
There were no stock options granted since 2008.
The aggregate intrinsic value for all unexercised options is zero.
The following table provides a roll forward of stock option activity:
## Table 4 ##
Cash-settled Awards Share-based cash-settled awards are recorded as liabilities until the final payout is made or the award is replaced with a stocksettled award.
Compensation expense is recognized over the vesting periods, unless the award is fully vested on the grant date in which case the entire award value is immediately recognized as expense.
Unlike stock-settled awards, which generally have a fixed grant-date fair value (unless the award is subsequently modified), the fair value of unsettled or unvested cash-settled awards is remeasured at the end of each reporting period based on the change in fair value of one share of AIG Common Stock.
The liability and corresponding expense are adjusted accordingly until the award is settled.
During the period we were subject to Troubled Asset Relief Program (TARP) restrictions, we issued various cash-settled sharebased grants, including Stock Salary, TARP RSU awards, and other cash-settled RSU awards, to certain of our most highly compensated employees and executive officers in the form of restricted stock units that were either fully vested with payment deferred, or subject to specified service and performance conditions.
After the repayment of our TARP obligations in December 2012, all performance conditions were satisfied; as a result, we no longer issue awards that are subject to TARP restrictions.
Restricted Stock Units Stock Salary was earned and accrued at the same time or times as the salary would otherwise be paid in cash and is generally settled in installments on the first, second or third anniversary of grant in accordance with the terms of an employee’s award.
Stock Salary grants were generally issued in the form of fully vested RSUs and are settled in cash based on the value of AIG
The performance units granted to certain executives in fiscal 2014 were based on a one-year performance period.
After the Compensation Committee certified the performance results, 25% of the performance units converted to unrestricted shares.
The remaining 75% converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date.
The performance units granted to certain executives during fiscal 2015 were based on a three-year performance period.
After the Compensation Committee certifies the performance results for the three-year period, performance units earned will convert into unrestricted common stock.
The Compensation Committee may set a range of possible performance-based outcomes for performance units.
Depending on the achievement of the performance measures, the grantee may earn up to 200% of the target number of shares.
For awards with only performance conditions, we recognize compensation expense over the performance period using the grant date fair value of the award, which is based on the number of shares expected to be earned according to the level of achievement of performance goals.
If the number of shares expected to be earned were to change at any time during the performance period, we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned.
During fiscal 2015, certain executives were granted performance units that we refer to as leveraged performance units, or LPUs.
LPUs contain a market condition based on our relative stock price growth over a three-year performance period.
The LPUs contain a minimum threshold performance which, if not met, would result in no payout.
The LPUs also contain a maximum award opportunity set as a fixed dollar and fixed number of shares.
After the three-year performance period, one-third of any earned units converts to unrestricted common stock.
The remaining two-thirds convert to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date.
We recognize share-based compensation expense based on the grant date fair value of the LPUs, as determined by use of a Monte Carlo model, on a straight-line basis over the requisite service period for each separately vesting portion of the LPU award.
Total Shareholder Return Units Before fiscal 2015, certain of our executives were granted total shareholder return (“TSR”) units, which are performance-based restricted stock units that are earned based on our total shareholder return over a three-year performance period compared to companies in the S&P 500.
Once the performance results are certified, TSR units convert into unrestricted common stock.
Depending on our performance, the grantee may earn up to 200% of the target number of shares.
The target number of TSR units for each executive is set by the Compensation Committee.
We recognize share-based compensation expense based on the grant date fair value of the TSR units, as determined by use of a Monte Carlo model, on a straight-line basis over the vesting period.
The following table summarizes the changes in unvested share-based awards for the years ended May 31, 2015 and 2014 (shares in thousands):

<table><tr><td> Years Ended December 31,</td><td></td><td></td><td></td><td colspan="2">Percentage Change</td></tr><tr><td><i>(in millions)</i></td><td>2015</td><td>2014</td><td>2013</td><td>2015 vs. 2014</td><td>2014 vs. 2013</td></tr><tr><td>Revenues:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Premiums</td><td>$14,085</td><td>$14,936</td><td>$15,302</td><td>-6%</td><td>-2%</td></tr><tr><td>Policy fees</td><td>2,557</td><td>2,453</td><td>2,252</td><td>4</td><td>9</td></tr><tr><td>Net investment income</td><td>8,322</td><td>9,082</td><td>9,352</td><td>-8</td><td>-3</td></tr><tr><td>Other income</td><td>2,105</td><td>1,998</td><td>1,754</td><td>5</td><td>14</td></tr><tr><td>Benefits and expenses:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Policyholder benefits and losses incurred</td><td>10,475</td><td>10,796</td><td>10,957</td><td>-3</td><td>-1</td></tr><tr><td>Interest credited to policyholder account balances</td><td>3,316</td><td>3,353</td><td>3,477</td><td>-1</td><td>-4</td></tr><tr><td>Amortization of deferred policy acquisition costs</td><td>2,887</td><td>2,759</td><td>2,836</td><td>5</td><td>-3</td></tr><tr><td>General operating and other expenses<sup>*</sup></td><td>7,013</td><td>7,087</td><td>6,826</td><td>-1</td><td>4</td></tr><tr><td>Pre-tax operating income</td><td>$3,378</td><td>$4,474</td><td>$4,564</td><td>-24%</td><td>-2%</td></tr></table>
<table><tr><td> Years Ended December 31,</td><td></td><td></td><td></td><td colspan="2">Percentage Change</td></tr><tr><td><i>(in millions)</i></td><td>2015</td><td>2014</td><td>2013</td><td>2015 vs. 2014</td><td>2014 vs. 2013</td></tr><tr><td>Revenues:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Premiums</td><td>$168</td><td>$287</td><td>$188</td><td>-41%</td><td>53%</td></tr><tr><td>Policy fees</td><td>1,072</td><td>1,010</td><td>861</td><td>6</td><td>17</td></tr><tr><td>Net investment income</td><td>6,002</td><td>6,489</td><td>6,628</td><td>-8</td><td>-2</td></tr><tr><td>Advisory fee and other income</td><td>2,056</td><td>1,998</td><td>1,754</td><td>3</td><td>14</td></tr><tr><td>Benefits and expenses:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Policyholder benefits and losses incurred</td><td>511</td><td>537</td><td>364</td><td>-5</td><td>48</td></tr><tr><td>Interest credited to policyholder account balances</td><td>2,823</td><td>2,846</td><td>2,935</td><td>-1</td><td>-3</td></tr><tr><td>Amortization of deferred policy acquisition costs</td><td>480</td><td>346</td><td>273</td><td>39</td><td>27</td></tr><tr><td>Non deferrable insurance commissions</td><td>282</td><td>265</td><td>249</td><td>6</td><td>6</td></tr><tr><td>Advisory fee expenses</td><td>1,349</td><td>1,315</td><td>1,175</td><td>3</td><td>12</td></tr><tr><td>General operating expenses</td><td>1,014</td><td>980</td><td>945</td><td>3</td><td>4</td></tr><tr><td>Pre-tax operating income</td><td>$2,839</td><td>$3,495</td><td>$3,490</td><td>-19%</td><td>-%</td></tr></table>
<table><tr><td> Years Ended December 31,</td><td></td><td></td><td></td><td colspan="2">Percentage Change</td></tr><tr><td><i>(in millions)</i></td><td>2015</td><td>2014</td><td>2013</td><td>2015 vs. 2014</td><td>2014 vs. 2013</td></tr><tr><td>Corporate and Other pre-tax operating loss:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Equity in pre-tax operating earnings of AerCap<sup>(a)</sup></td><td>$255</td><td>$434</td><td>$-</td><td>-41%</td><td>NM%</td></tr><tr><td>Fair value of PICC investments<sup>(b)</sup></td><td>33</td><td>37</td><td>-</td><td>-11</td><td>NM</td></tr><tr><td>Income from other assets, net<sup>(c)</sup></td><td>1,382</td><td>373</td><td>47</td><td>271</td><td>NM</td></tr><tr><td>Corporate general operating expenses</td><td>-985</td><td>-1,146</td><td>-1,115</td><td>14</td><td>-3</td></tr><tr><td>Severance expense<sup>(d)</sup></td><td>-</td><td>-</td><td>-265</td><td>NM</td><td>NM</td></tr><tr><td>Interest expense</td><td>-1,101</td><td>-1,233</td><td>-1,412</td><td>11</td><td>13</td></tr></table>
<table><tr><td> At December 31,</td><td rowspan="2">2015 As Reported</td><td></td><td rowspan="2">2014 As Reported</td><td></td></tr><tr><td><i>(in millions)</i></td><td>Net of Reinsurance</td><td>Net of Reinsurance</td></tr><tr><td>Liability for unpaid losses and loss adjustment expenses<sup>(a)</sup></td><td>$-74,942</td><td>$-60,603</td><td>$-77,260</td><td>$-61,612</td></tr><tr><td>Future policy benefits for life and accident and health insurance contracts</td><td>-43,585</td><td>-42,506</td><td>-42,749</td><td>-41,767</td></tr><tr><td>Reserve for unearned premiums</td><td>-21,318</td><td>-18,380</td><td>-21,324</td><td>-18,278</td></tr><tr><td>Reinsurance assets<sup>(b)</sup></td><td>18,356</td><td></td><td>19,676</td><td></td></tr></table>
<table><tr><td> As of or for the Year Ended December 31, 2015</td><td>Shares</td><td>Weighted Average Exercise Price</td><td>Weighted Average Remaining Contractual Life</td></tr><tr><td> Options:</td><td></td><td></td><td></td></tr><tr><td>Exercisable at beginning of year</td><td>202,275</td><td>$1,037.74</td><td>2.17</td></tr><tr><td>Expired</td><td>-108,763</td><td>$1,261.25</td><td></td></tr><tr><td>Exercisable at end of year</td><td>93,512</td><td>$777.78</td><td>2.16</td></tr></table>

Question: What's the difference of Policy fees between 2015 and 2014? (in millions)
Answer: 62