Closed Block (Tables)

12 Months Ended

Dec. 31, 2013

Closed Block Disclosure [Abstract]

Closed block liabilities and assets

Information regarding the closed block liabilities and assets designated to the closed block was as follows at:

	December 31,
	2013			2012
	(In millions)
Closed Block Liabilities
Future policy benefits	$	42,076		$	42,586
Other policy-related balances	298			298
Policyholder dividends payable	456			466
Policyholder dividend obligation	1,771			3,828
Current income tax payable	18			—
Other liabilities	582			602
Total closed block liabilities	45,201			47,780
Assets Designated to the Closed Block
Investments:
Fixed maturity securities available-for-sale, at estimated fair value	28,374			30,546
Equity securities available-for-sale, at estimated fair value	86			41
Mortgage loans	6,155			6,192
Policy loans	4,669			4,670
Real estate and real estate joint ventures	492			459
Other invested assets	814			953
Total investments	40,590			42,861
Cash and cash equivalents	238			381
Accrued investment income	477			481
Premiums, reinsurance and other receivables	98			107
Current income tax recoverable	—			2
Deferred income tax assets	293			319
Total assets designated to the closed block	41,696			44,151
Excess of closed block liabilities over assets designated to the closed block	3,505			3,629
Amounts included in AOCI:
Unrealized investment gains (losses), net of income tax	1,502			2,891
Unrealized gains (losses) on derivatives, net of income tax	(3		)	9
Allocated to policyholder dividend obligation, net of income tax	(1,151		)	(2,488		)
Total amounts included in AOCI	348			412
Maximum future earnings to be recognized from closed block assets and liabilities	$	3,853		$	4,041

Closed block policyholder dividend obligation

Information regarding the closed block policyholder dividend obligation was as follows:

	Years Ended December 31,
	2013			2012		2011
	(In millions)
Balance at January 1,	$	3,828		$	2,919	$	876
Change in unrealized investment and derivative gains (losses)	(2,057		)	909		2,043
Balance at December 31,	$	1,771		$	3,828	$	2,919

Closed block revenues and expenses

Information regarding the closed block revenues and expenses was as follows:

	Years Ended December 31,
	2013			2012			2011
	(In millions)
Revenues
Premiums	$	1,987		$	2,139		$	2,306
Net investment income	2,130			2,188			2,231
Net investment gains (losses)	25			61			32
Net derivative gains (losses)	(6		)	(12		)	8
Total revenues	4,136			4,376			4,577
Expenses
Policyholder benefits and claims	2,702			2,783			2,991
Policyholder dividends	979			1,072			1,137
Other expenses	165			179			193
Total expenses	3,846			4,034			4,321
Revenues, net of expenses before provision for income tax expense (benefit)	290			342			256
Provision for income tax expense (benefit)	101			120			89
Revenues, net of expenses and provision for income tax expense (benefit) from continuing operations	189			222			167
Revenues, net of expenses and provision for income tax expense (benefit) from discontinued operations	—			10			1
Revenues, net of expenses and provision for income tax expense (benefit)	$	189		$	232		$	168