Investments (Tables)

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Investments, Debt and Equity Securities [Abstract]

Fixed Maturity and Equity Securities Available-for-Sale

The following table presents the fixed maturity and equity securities AFS by sector. Redeemable preferred stock is reported within U.S. corporate and foreign corporate fixed maturity securities and non-redeemable preferred stock is reported within equity securities. Included within fixed maturity securities are structured securities including RMBS, commercial mortgage-backed securities (“CMBS”) and ABS.

	December 31, 2013										December 31, 2012
	Cost or Amortized Cost		Gross Unrealized						Estimated Fair Value		Cost or Amortized Cost		Gross Unrealized							Estimated Fair Value
			Gains		Temporary Losses		OTTI Losses						Gains		Temporary Losses		OTTI Losses
									(In millions)
Fixed maturity securities
U.S. corporate	$	100,203	$	7,495	$	1,229	$	—	$	106,469	$	102,669	$	11,887	$	430	$	—		$	114,126
Foreign corporate (1)	59,778		3,939		565		—		63,152		61,806		5,654		277		(1		)	67,184
Foreign government	50,717		4,107		387		—		54,437		51,967		5,440		71		—			57,336
U.S. Treasury and agency	43,928		2,251		1,056		—		45,123		41,874		6,104		11		—			47,967
RMBS	34,167		1,584		490		206		35,055		35,666		2,477		315		349			37,479
CMBS	16,115		605		170		—		16,550		18,177		1,009		57		—			19,129
ABS	15,458		296		171		12		15,571		15,762		404		156		13			15,997
State and political subdivision	13,233		903		306		—		13,830		12,949		2,169		70		—			15,048
Total fixed maturity securities	$	333,599	$	21,180	$	4,374	$	218	$	350,187	$	340,870	$	35,144	$	1,387	$	361		$	374,266
Equity securities
Common stock	$	1,927	$	431	$	5	$	—	$	2,353	$	2,034	$	147	$	19	$	—		$	2,162
Non-redeemable preferred stock	1,085		76		112		—		1,049		804		65		140		—			729
Total equity securities	$	3,012	$	507	$	117	$	—	$	3,402	$	2,838	$	212	$	159	$	—		$	2,891

______________

(1) The noncredit loss component of OTTI losses for foreign corporate securities was in an unrealized gain position of $1 million at December 31, 2012, due to increases in estimated fair value subsequent to initial recognition of noncredit losses on such securities. See also “— Net Unrealized Investment Gains (Losses).”

Available-for-sale fixed maturity securities by contractual maturity date

The amortized cost and estimated fair value of fixed maturity securities, by contractual maturity date, were as follows at:

	December 31,
	2013				2012
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(In millions)
Due in one year or less	$	15,828	$	16,030	$	24,177	$	24,394
Due after one year through five years	70,467		74,229		66,973		70,759
Due after five years through ten years	78,159		83,223		82,376		91,975
Due after ten years	103,405		109,529		97,739		114,533
Subtotal	267,859		283,011		271,265		301,661
Structured securities (RMBS, CMBS and ABS)	65,740		67,176		69,605		72,605
Total fixed maturity securities	$	333,599	$	350,187	$	340,870	$	374,266

Continuous Gross Unrealized Loss and OTTI Loss for Fixed Maturity and Equity Securities Available-for-Sale

The following table presents the estimated fair value and gross unrealized losses of fixed maturity and equity securities AFS in an unrealized loss position, aggregated by sector and by length of time that the securities have been in a continuous unrealized loss position.

	December 31, 2013								December 31, 2012
	Less than 12 Months				Equal to or Greater than 12 Months				Less than 12 Months				Equal to or Greater than 12 Months
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
	(In millions, except number of securities)
Fixed maturity securities
U.S. corporate	$	13,889	$	808	$	3,807	$	421	$	3,799	$	88	$	3,695	$	342
Foreign corporate	9,019		402		2,320		163		2,783		96		2,873		180
Foreign government	5,052		336		1,846		51		1,431		22		543		49
U.S. Treasury and agency	15,225		1,037		357		19		1,951		11		—		—
RMBS	10,754		363		2,302		333		735		31		4,098		633
CMBS	3,696		142		631		28		842		11		577		46
ABS	3,772		59		978		124		1,920		30		1,410		139
State and political subdivision	3,109		225		351		81		260		4		251		66
Total fixed maturity securities	$	64,516	$	3,372	$	12,592	$	1,220	$	13,721	$	293	$	13,447	$	1,455
Equity securities
Common stock	$	81	$	4	$	16	$	1	$	201	$	18	$	14	$	1
Non-redeemable preferred stock	364		65		191		47		—		—		295		140
Total equity securities	$	445	$	69	$	207	$	48	$	201	$	18	$	309	$	141
Total number of securities in an unrealized loss position	4,480				1,571				1,941				1,335

Disclosure of Mortgage Loans Net of Valuation Allowance

Mortgage loans are summarized as follows at:

	December 31,
	2013					2012
	Carrying Value			% of Total		Carrying Value			% of Total
	(In millions)					(In millions)
Mortgage loans held-for-investment:
Commercial	$	40,926		70.9	%	$	40,472		71.0	%
Agricultural	12,391			21.5		12,843			22.5
Residential	2,772			4.8		958			1.7
Subtotal (1)	56,089			97.2		54,273			95.2
Valuation allowances	(322		)	(0.6	)	(347		)	(0.6	)
Subtotal mortgage loans held-for-investment, net	55,767			96.6		53,926			94.6
Residential — FVO	338			0.6		—			—
Commercial mortgage loans held by CSEs — FVO	1,598			2.8		2,666			4.7
Total mortgage loans held-for-investment, net	57,703			100.0		56,592			99.3
Mortgage loans held-for-sale	3			—		414			0.7
Total mortgage loans, net	$	57,706		100.0	%	$	57,006		100.0	%

______________

(1) Purchases of mortgage loans were $2.2 billion and $205 million for the years ended December 31, 2013 and 2012, respectively.

Disclosure of mortgage loans held-for-investment and valuation allowances by method of evaluation for credit loss

The carrying value prior to valuation allowance (“recorded investment”) in mortgage loans held-for-investment, by portfolio segment, by method of evaluation of credit loss, and the related valuation allowances, by type of credit loss, were as follows at:

	December 31,
	2013								2012
	Commercial		Agricultural		Residential		Total		Commercial		Agricultural		Residential		Total
	(In millions)
Mortgage loans:
Evaluated individually for credit losses	$	506	$	100	$	16	$	622	$	539	$	181	$	13	$	733
Evaluated collectively for credit losses	40,420		12,291		2,756		55,467		39,933		12,662		945		53,540
Total mortgage loans	40,926		12,391		2,772		56,089		40,472		12,843		958		54,273
Valuation allowances:
Specific credit losses	58		7		1		66		94		21		2		117
Non-specifically identified credit losses	200		37		19		256		199		31		—		230
Total valuation allowances	258		44		20		322		293		52		2		347
Mortgage loans, net of valuation allowance	$	40,668	$	12,347	$	2,752	$	55,767	$	40,179	$	12,791	$	956	$	53,926

Allowance for Loan and Lease Losses, Provision for Loss, Net

The changes in the valuation allowance, by portfolio segment, were as follows:

	Commercial			Agricultural			Residential			Total
	(In millions)
Balance at January 1, 2011	$	562		$	88		$	14		$	664
Provision (release)	(152		)	(3		)	10			(145		)
Charge-offs, net of recoveries	(12		)	(4		)	(3		)	(19		)
Transfers to held-for-sale (1)	—			—			(19		)	(19		)
Balance at December 31, 2011	398			81			2			481
Provision (release)	(92		)	—			6			(86		)
Charge-offs, net of recoveries	(13		)	(24		)	—			(37		)
Transfers to held-for-sale (1)	—			(5		)	(6		)	(11		)
Balance at December 31, 2012	293			52			2			347
Provision (release)	(35		)	4			18			(13		)
Charge-offs, net of recoveries	—			(12		)	—			(12		)
Transfers to held-for-sale	—			—			—			—
Balance at December 31, 2013	$	258		$	44		$	20		$	322

______________

(1) The valuation allowance on and the related carrying value of certain residential mortgage loans held-for-investment were transferred to mortgage loans held-for-sale in connection with the MetLife Bank Divestiture. See Note 3.

Schedule of Financing Receivables, Non Accrual Status

The Company has a high quality, well performing mortgage loan portfolio, with 99% of all mortgage loans classified as performing at both December 31, 2013 and 2012. The Company defines delinquency consistent with industry practice, when mortgage loans are past due as follows: commercial and residential mortgage loans — 60 days and agricultural mortgage loans — 90 days. The past due and accrual status of mortgage loans at recorded investment, prior to valuation allowances, by portfolio segment, were as follows at:

	Past Due				Greater than 90 Days Past Due and Still Accruing Interest				Nonaccrual Status
	December 31, 2013		December 31, 2012		December 31, 2013		December 31, 2012		December 31, 2013		December 31, 2012
	(In millions)
Commercial	$	12	$	2	$	12	$	—	$	191	$	84
Agricultural	44		116		—		53		47		67
Residential	79		29		—		—		65		18
Total	$	135	$	147	$	12	$	53	$	303	$	169

Impaired mortgage loans held-for-investment

Impaired mortgage loans held-for-investment, including those modified in a troubled debt restructuring, by portfolio segment, were as follows at and for the years ended:

	Loans with a Valuation Allowance								Loans without a Valuation Allowance				All Impaired Loans
	Unpaid Principal Balance		Recorded Investment		Valuation Allowances		Carrying Value		Unpaid Principal Balance		Recorded Investment		Unpaid Principal Balance		Carrying Value		Average Recorded Investment		Interest Income
	(In millions)
December 31, 2013:
Commercial	$	214	$	210	$	58	$	152	$	299	$	296	$	513	$	448	$	526	$	15
Agricultural	68		66		7		59		35		34		103		93		153		9
Residential	12		12		1		11		5		4		17		15		14		—
Total	$	294	$	288	$	66	$	222	$	339	$	334	$	633	$	556	$	693	$	24
December 31, 2012:
Commercial	$	445	$	436	$	94	$	342	$	103	$	103	$	548	$	445	$	464	$	14
Agricultural	110		107		21		86		79		74		189		160		204		8
Residential	13		13		2		11		—		—		13		11		13		—
Total	$	568	$	556	$	117	$	439	$	182	$	177	$	750	$	616	$	681	$	22

Mortgage loans modified in a troubled debt restructuring

For a small portion of the mortgage loan portfolio, classified as troubled debt restructurings, concessions are granted related to borrowers experiencing financial difficulties. Generally, the types of concessions include: reduction of the contractual interest rate, extension of the maturity date at an interest rate lower than current market interest rates, and/or a reduction of accrued interest. The amount, timing and extent of the concession granted is considered in determining any impairment or changes in the specific valuation allowance recorded with the restructuring. Through the continuous monitoring process, a specific valuation allowance may have been recorded prior to the quarter when the mortgage loan is modified in a troubled debt restructuring. Accordingly, the carrying value (after specific valuation allowance) before and after modification through a troubled debt restructuring may not change significantly, or may increase if the expected recovery is higher than the pre-modification recovery assessment. The number of mortgage loans and carrying value after specific valuation allowance of mortgage loans modified during the period in a troubled debt restructuring were as follows:

	Years Ended December 31,
	2013					2012
	Number of Mortgage Loans	Carrying Value after Specific Valuation Allowance				Number of Mortgage Loans	Carrying Value after Specific Valuation Allowance
		Pre-Modification		Post-Modification			Pre-Modification		Post-Modification
		(In millions)					(In millions)
Commercial	1	$	49	$	49	1	$	222	$	199
Agricultural	3	28		28		5	17		16
Residential	27	5		5		—	—		—
Total	31	$	82	$	82	6	$	239	$	215

Investment in leveraged leases

Investment in leveraged leases consisted of the following at:

	December 31,
	2013			2012
	(In millions)
Rental receivables, net	$	1,491		$	1,564
Estimated residual values	1,325			1,474
Subtotal	2,816			3,038
Unearned income	(870		)	(1,040		)
Investment in leveraged leases, net of non-recourse debt	$	1,946		$	1,998

Net income from investment in leveraged leases

The components of income from investment in leveraged leases, excluding net investment gains (losses), were as follows:

	Years Ended December 31,
	2013		2012		2011
	(In millions)
Income from investment in leveraged leases	$	82	$	57	$	125
Less: Income tax expense on leveraged leases	29		20		44
Investment income after income tax from investment in leveraged leases	$	53	$	37	$	81

Components of net unrealized investment gains (losses) included in accumulated other comprehensive income (loss)

The components of net unrealized investment gains (losses), included in AOCI, were as follows:

	Years Ended December 31,
	2013			2012			2011
	(In millions)
Fixed maturity securities	$	16,672		$	33,641		$	21,096
Fixed maturity securities with noncredit OTTI losses in AOCI	(218		)	(361		)	(724		)
Total fixed maturity securities	16,454			33,280			20,372
Equity securities	390			97			(167		)
Derivatives	375			1,274			1,514
Other	(73		)	(30		)	72
Subtotal	17,146			34,621			21,791
Amounts allocated from:
Insurance liability loss recognition	(898		)	(6,049		)	(3,996		)
DAC and VOBA related to noncredit OTTI losses recognized in AOCI	6			19			47
DAC and VOBA	(1,190		)	(2,485		)	(1,800		)
Policyholder dividend obligation	(1,771		)	(3,828		)	(2,919		)
Subtotal	(3,853		)	(12,343		)	(8,668		)
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI	73			119			236
Deferred income tax benefit (expense)	(4,956		)	(7,973		)	(4,694		)
Net unrealized investment gains (losses)	8,410			14,424			8,665
Net unrealized investment gains (losses) attributable to noncontrolling interests	4			(5		)	9
Net unrealized investment gains (losses) attributable to MetLife, Inc.	$	8,414		$	14,419		$	8,674

The changes in net unrealized investment gains (losses) were as follows:

	Years Ended December 31,
	2013			2012			2011
	(In millions)
Balance at January 1,	$	14,419		$	8,674		$	3,122
Fixed maturity securities on which noncredit OTTI losses have been recognized	143			363			(123		)
Unrealized investment gains (losses) during the year	(17,618		)	12,467			14,823
Unrealized investment gains (losses) of subsidiary at the date of disposal	—			—			(105		)
Unrealized investment gains (losses) relating to:
Insurance liability gain (loss) recognition	5,151			(2,053		)	(3,406		)
Insurance liability gain (loss) recognition of subsidiary at the date of disposal	—			—			82
DAC and VOBA related to noncredit OTTI losses recognized in AOCI	(13		)	(28		)	9
DAC and VOBA	1,295			(685		)	(808		)
DAC and VOBA of subsidiary at date of disposal	—			—			11
Policyholder dividend obligation	2,057			(909		)	(2,043		)
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in AOCI	(46		)	(117		)	39
Deferred income tax benefit (expense)	3,017			(3,279		)	(2,936		)
Deferred income tax benefit (expense) of subsidiary at date of disposal	—			—			4
Net unrealized investment gains (losses)	8,405			14,433			8,669
Net unrealized investment gains (losses) attributable to noncontrolling interests	9			(14		)	5
Balance at December 31,	$	8,414		$	14,419		$	8,674
Change in net unrealized investment gains (losses)	$	(6,014	)	$	5,759		$	5,547
Change in net unrealized investment gains (losses) attributable to noncontrolling interests	9			(14		)	5
Change in net unrealized investment gains (losses) attributable to MetLife, Inc.	$	(6,005	)	$	5,745		$	5,552

Other than temporary impairment, credit losses recongnized earnings

The changes in fixed maturity securities with noncredit OTTI losses included in AOCI were as follows:

	Years Ended December 31,
	2013			2012
	(In millions)
Balance at January 1,	$	(361	)	$	(724	)
Noncredit OTTI losses and subsequent changes recognized (1)	60			(29		)
Securities sold with previous noncredit OTTI loss	149			177
Subsequent changes in estimated fair value	(66		)	215
Balance at December 31,	$	(218	)	$	(361	)

______________

(1) Noncredit OTTI losses and subsequent changes recognized, net of DAC, were $52 million and ($21) million for the years ended December 31, 2013 and 2012, respectively.

Securities Lending

Elements of the securities lending program are presented below at:

	December 31,
	2013		2012
	(In millions)
Securities on loan: (1)
Amortized cost	$	27,094	$	23,380
Estimated fair value	$	27,595	$	27,077
Cash collateral on deposit from counterparties (2)	$	28,319	$	27,727
Security collateral on deposit from counterparties (3)	$	—	$	104
Reinvestment portfolio — estimated fair value	$	28,481	$	28,112

______________

(1) Included within fixed maturity securities, short-term investments, equity securities and cash and cash equivalents.

(2) Included within payables for collateral under securities loaned and other transactions.

(3) Security collateral on deposit from counterparties may not be sold or repledged, unless the counterparty is in default, and is not reflected in the consolidated financial statements.

Invested Assets on Deposit, Held in Trust and Pledged as Collateral

Invested assets on deposit, held in trust and pledged as collateral are presented below at estimated fair value for cash and cash equivalents, short-term investments, fixed maturity and equity securities, and FVO and trading securities, and at carrying value for mortgage loans at:

	December 31,
	2013		2012
	(In millions)
Invested assets on deposit (regulatory deposits)	$	2,153	$	2,362
Invested assets held in trust (collateral financing arrangements and reinsurance agreements)	11,004		12,434
Invested assets pledged as collateral (1)	23,770		23,251
Total invested assets on deposit, held in trust and pledged as collateral	$	36,927	$	38,047

______________

(1) The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements (see Notes 4 and 12), collateral financing arrangements (see Note 13) and derivative transactions (see Note 9).

Purchased credit impaired investments, by invested asset class, held

The following table presents information about PCI investments acquired during the periods indicated:

	Years Ended December 31,
	2013		2012		2013		2012
	Fixed Maturity Securities				Mortgage Loans
	(In millions)
Contractually required payments (including interest)	$	1,872	$	2,083	$	—	$	—
Cash flows expected to be collected (1)	$	1,446	$	1,524	$	—	$	—
Fair value of investments acquired	$	978	$	991	$	—	$	—

______________

(1) Represents undiscounted principal and interest cash flow expectations, at the date of acquisition.

The Company’s PCI investments, by invested asset class, were as follows at:

	December 31,
	2013		2012		2013		2012
	Fixed Maturity Securities				Mortgage Loans
	(In millions)
Outstanding principal and interest balance (1)	$	5,319	$	4,905	$	291	$	440
Carrying value (2)	$	4,109	$	3,900	$	138	$	199

______________

(1) Represents the contractually required payments, which is the sum of contractual principal, whether or not currently due, and accrued interest.

(2) Estimated fair value plus accrued interest for fixed maturity securities and amortized cost, plus accrued interest, less any valuation allowances, for mortgage loans.

The following table presents activity for the accretable yield on PCI investments:

	Years Ended December 31,
	2013			2012			2013			2012
	Fixed Maturity Securities						Mortgage Loans
	(In millions)
Accretable yield, January 1,	$	2,665		$	2,311		$	184		$	254
Investments purchased	468			533			—			—
Accretion recognized in earnings	(260		)	(203		)	(87		)	(71		)
Disposals	(152		)	(102		)	—			—
Reclassification (to) from nonaccretable difference	25			126			(23		)	1
Accretable yield, December 31,	$	2,746		$	2,665		$	74		$	184

The Components of Net Investment Income

The components of net investment income were as follows:

	Years Ended December 31,
	2013		2012		2011
	(In millions)
Investment income:
Fixed maturity securities	$	15,071	$	15,218	$	15,037
Equity securities	127		133		141
FVO and trading securities — Actively Traded Securities and FVO general account securities (1)	65		88		31
Mortgage loans	3,020		3,191		3,164
Policy loans	620		626		641
Real estate and real estate joint ventures	909		834		688
Other limited partnership interests	955		845		681
Cash, cash equivalents and short-term investments	181		163		167
International joint ventures	10		19		(12		)
Other	165		131		178
Subtotal	21,123		21,248		20,716
Less: Investment expenses	1,198		1,090		1,019
Subtotal, net	19,925		20,158		19,697
FVO and trading securities — FVO contractholder-directed unit-linked investments (1)	2,172		1,473		(453		)
Securitized reverse residential mortgage loans	—		177		—
FVO CSEs - interest income:
Commercial mortgage loans	132		172		332
Securities	3		4		9
Subtotal	2,307		1,826		(112		)
Net investment income	$	22,232	$	21,984	$	19,585

______________

(1) Changes in estimated fair value subsequent to purchase for securities still held as of the end of the respective years included in net investment income were as follows:

	Years Ended December 31,
	2013		2012		2011
	(In millions)
Actively Traded Securities and FVO general account securities	$	18	$	51	$	(3	)
FVO contractholder-directed unit-linked investments	$	1,579	$	1,170	$	(647	)

The components of net investment gains (losses)

The components of net investment gains (losses) were as follows:

	Years Ended December 31,
	2013			2012			2011
	(In millions)
Total gains (losses) on fixed maturity securities:
Total OTTI losses recognized — by sector and industry:
U.S. and foreign corporate securities — by industry:
Utility	$	(48	)	$	(61	)	$	(10	)
Consumer	(11		)	(19		)	(50		)
Finance	(10		)	(32		)	(56		)
Transportation	(3		)	(17		)	—
Communications	(2		)	(19		)	(41		)
Technology	—			(6		)	(1		)
Industrial	—			(5		)	(11		)
Total U.S. and foreign corporate securities	(74		)	(159		)	(169		)
RMBS	(80		)	(97		)	(214		)
CMBS	(12		)	(51		)	(32		)
ABS	—			(9		)	(54		)
State and political subdivision	—			(1		)	—
Foreign government	—			—			(486		)
OTTI losses on fixed maturity securities recognized in earnings	(166		)	(317		)	(955		)
Fixed maturity securities — net gains (losses) on sales and disposals	561			253			25
Total gains (losses) on fixed maturity securities (1)	395			(64		)	(930		)
Total gains (losses) on equity securities:
Total OTTI losses recognized — by sector:
Non-redeemable preferred stock	(20		)	—			(38		)
Common stock	(6		)	(34		)	(22		)
OTTI losses on equity securities recognized in earnings	(26		)	(34		)	(60		)
Equity securities — net gains (losses) on sales and disposals	31			38			37
Total gains (losses) on equity securities	5			4			(23		)
FVO and trading securities — FVO general account securities	15			17			(2		)
Mortgage loans (1)	22			57			175
Real estate and real estate joint ventures	(19		)	(36		)	134
Other limited partnership interests	(48		)	(36		)	4
Other investment portfolio gains (losses)	22			(151		)	(7		)
Subtotal — investment portfolio gains (losses) (1)	392			(209		)	(649		)
FVO CSEs:
Commercial mortgage loans	(52		)	7			(84		)
Securities	2			—			—
Long-term debt — related to commercial mortgage loans	85			25			97
Long-term debt — related to securities	(2		)	(7		)	(8		)
Non-investment portfolio gains (losses) (2)	(264		)	(168		)	(223		)
Subtotal FVO CSEs and non-investment portfolio gains (losses)	(231		)	(143		)	(218		)
Total net investment gains (losses)	$	161		$	(352	)	$	(867	)

______________

(1) Investment portfolio gains (losses) for the years ended December 31, 2012 and 2011 includes a net gain (loss) of $37 million and ($153) million, respectively, as a result of the MetLife Bank Divestiture, which is comprised of gains (losses) on investments sold of $78 million and $1 million, respectively, and impairments on mortgage loans of ($41) million and ($154) million, respectively. See Note 3.

(2) Non-investment portfolio gains (losses) for the years ended December 31, 2013 and 2012 includes a gain of $30 million and $33 million, respectively, related to certain dispositions as more fully described in Note 3. Non-investment portfolio gains (losses) for the year ended December 31, 2011 includes a loss of $106 million related to certain dispositions and a goodwill impairment loss of $65 million. See Notes 3 and 11.

Proceeds from sales or disposals of fixed maturity and equity securities and the components of fixed maturity and equity securities net investment gains and losses

Proceeds from sales or disposals of fixed maturity and equity securities and the components of fixed maturity and equity securities net investment gains (losses) are as shown in the table below. Investment gains and losses on sales of securities are determined on a specific identification basis.

	Years Ended December 31,
	2013			2012			2011			2013			2012			2011			2013			2012			2011
	Fixed Maturity Securities									Equity Securities									Total
	(In millions)
Proceeds	$	76,070		$	59,219		$	67,449		$	746		$	1,648		$	1,241		$	76,816		$	60,867		$	68,690
Gross investment gains	$	1,326		$	944		$	892		$	56		$	73		$	108		$	1,382		$	1,017		$	1,000
Gross investment losses	(765		)	(691		)	(867		)	(25		)	(35		)	(71		)	(790		)	(726		)	(938		)
Total OTTI losses:
Credit-related	(147		)	(223		)	(645		)	—			—			—			(147		)	(223		)	(645		)
Other (1)	(19		)	(94		)	(310		)	(26		)	(34		)	(60		)	(45		)	(128		)	(370		)
Total OTTI losses	(166		)	(317		)	(955		)	(26		)	(34		)	(60		)	(192		)	(351		)	(1,015		)
Net investment gains (losses)	$	395		$	(64	)	$	(930	)	$	5		$	4		$	(23	)	$	400		$	(60	)	$	(953	)

______________

(1) Other OTTI losses recognized in earnings include impairments on (i) equity securities, (ii) perpetual hybrid securities classified within fixed maturity securities where the primary reason for the impairment was the severity and/or the duration of an unrealized loss position and (iii) fixed maturity securities where there is an intent to sell or it is more likely than not that the Company will be required to sell the security before recovery of the decline in estimated fair value.

Rollforward of the Cumulative Credit Loss Component of OTTI income (loss)

The table below presents a rollforward of the cumulative credit loss component of OTTI loss recognized in earnings on fixed maturity securities still held for which a portion of the OTTI loss was recognized in OCI:

	Years Ended December 31,
	2013			2012
	(In millions)
Balance at January 1,	$	392		$	471
Additions:
Initial impairments — credit loss OTTI recognized on securities not previously impaired	6			46
Additional impairments — credit loss OTTI recognized on securities previously impaired	69			70
Reductions:
Sales (maturities, pay downs or prepayments) during the period of securities previously impaired as credit loss OTTI	(87		)	(176		)
Securities impaired to net present value of expected future cash flows	—			(17		)
Increases in cash flows — accretion of previous credit loss OTTI	(2		)	(2		)
Balance at December 31,	$	378		$	392

Variable Interest Entity, Primary Beneficiary [Member]

Variable Interest Entity [Line Items]

Schedule of Variable Interest Entities [Table Text Block]

The following table presents the total assets and total liabilities relating to VIEs for which the Company has concluded that it is the primary beneficiary and which are consolidated at December 31, 2013 and 2012. Creditors or beneficial interest holders of VIEs where the Company is the primary beneficiary have no recourse to the general credit of the Company, as the Company’s obligation to the VIEs is limited to the amount of its committed investment.

	December 31,
	2013				2012
	Total Assets		Total Liabilities		Total Assets		Total Liabilities
	(In millions)
MRSC (collateral financing arrangement (primarily securities)) (1)	$	3,440	$	—	$	3,439	$	—
Operating joint venture (2)	2,095		1,777		—		—
CSEs (assets (primarily loans) and liabilities (primarily debt)) (3)	1,630		1,457		2,730		2,545
Investments:
Real estate joint ventures (4)	1,181		443		11		14
Other invested assets	82		7		85		—
FVO and trading securities	69		—		71		—
Other limited partnership interests	61		—		356		8
Total	$	8,558	$	3,684	$	6,692	$	2,567

______________

(1) See Note 13 for a description of the MetLife Reinsurance Company of South Carolina (“MRSC”) collateral financing arrangement.

(2) Assets of the operating joint venture are primarily fixed maturity securities and separate account assets. Liabilities of the operating joint venture are primarily future policy benefits, other policyholder funds and separate account liabilities. The assets and liabilities of the operating joint venture were consolidated in earlier periods; however, as a result of the quarterly reassessment in the first quarter of 2013, it was determined to be a consolidated VIE.

(3) The Company consolidates entities that are structured as CMBS and as collateralized debt obligations. The assets of these entities can only be used to settle their respective liabilities, and under no circumstances is the Company liable for any principal or interest shortfalls should any arise. The Company’s exposure was limited to that of its remaining investment in these entities of $154 million and $168 million at estimated fair value at December 31, 2013 and 2012, respectively. The long-term debt bears interest primarily at fixed rates ranging from 2.25% to 5.57%, payable primarily on a monthly basis. Interest expense related to these obligations, included in other expenses, was $122 million, $163 million and $324 million for the years ended December 31, 2013, 2012 and 2011 respectively.

(4) The Company consolidated an open ended core real estate fund formed in the fourth quarter of 2013, which represented the majority of the balances at December 31, 2013. Assets of the real estate fund are a real estate investment trust which holdsprimarily traditional core income-producing real estate which has associated liabilities that are primarily non-recourse debt secured by certain real estate assets of the fund. The assets of these entities can only be used to settle their respective liabilities, and under no circumstances is the Company liable for any principal or interest shortfalls should any arise. The Company’s exposure was limited to that of its investment in the real estate fund of $178 million at carrying value at December 31, 2013. The long-term debt bears interest primarily at fixed rates ranging from 1.39% to 4.45%, payable primarily on a monthly basis. Interest expense related to these obligations, included in other expenses, was less than $1 million for the year ended December 31, 2013.

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity [Line Items]

Schedule of Variable Interest Entities [Table Text Block]

The carrying amount and maximum exposure to loss relating to VIEs in which the Company holds a significant variable interest but is not the primary beneficiary and which have not been consolidated were as follows at:

	December 31,
	2013				2012
	Carrying Amount		Maximum Exposure to Loss (1)		Carrying Amount		Maximum Exposure to Loss (1)
	(In millions)
Fixed maturity securities AFS:
Structured securities (RMBS, CMBS and ABS) (2)	$	67,176	$	67,176	$	72,605	$	72,605
U.S. and foreign corporate	3,966		3,966		5,287		5,287
Other limited partnership interests	5,041		6,994		4,436		5,908
Other invested assets	1,509		1,897		1,117		1,431
FVO and trading securities	619		619		563		563
Mortgage loans	106		106		351		351
Real estate joint ventures	70		71		150		157
Equity securities AFS:
Non-redeemable preferred stock	35		35		32		32
Total	$	78,522	$	80,864	$	84,541	$	86,334

______________

(1) The maximum exposure to loss relating to fixed maturity securities AFS, FVO and trading securities and equity securities AFS is equal to their carrying amounts or the carrying amounts of retained interests. The maximum exposure to loss relating to other limited partnership interests, mortgage loans and real estate joint ventures is equal to the carrying amounts plus any unfunded commitments of the Company. For certain of its investments in other invested assets, the Company’s return is in the form of income tax credits which are guaranteed by creditworthy third parties. For such investments, the maximum exposure to loss is equal to the carrying amounts plus any unfunded commitments, reduced by income tax credits guaranteed by third parties of $257 million and $318 million at December 31, 2013 and 2012, respectively. Such a maximum loss would be expected to occur only upon bankruptcy of the issuer or investee.

(2) For these variable interests, the Company’s involvement is limited to that of a passive investor.

Commercial mortgage loans portfolio segment [Member]

Mortgage Loans on Real Estate [Line Items]

Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories

The credit quality of commercial mortgage loans held-for-investment, were as follows at:

	Recorded Investment										Estimated Fair Value		% of Total
	Debt Service Coverage Ratios						Total		% of Total
	> 1.20x		1.00x - 1.20x		< 1.00x
	(In millions)										(In millions)
December 31, 2013:
Loan-to-value ratios:
Less than 65%	$	30,552	$	614	$	841	$	32,007	78.2	%	$	33,519	78.9	%
65% to 75%	6,360		438		149		6,947		17.0		7,039		16.6
76% to 80%	525		192		189		906		2.2		892		2.1
Greater than 80%	661		242		163		1,066		2.6		1,006		2.4
Total	$	38,098	$	1,486	$	1,342	$	40,926	100.0	%	$	42,456	100.0	%
December 31, 2012:
Loan-to-value ratios:
Less than 65%	$	29,839	$	730	$	722	$	31,291	77.3	%	$	33,730	78.3	%
65% to 75%	5,057		672		153		5,882		14.6		6,129		14.2
76% to 80%	938		131		316		1,385		3.4		1,436		3.3
Greater than 80%	1,085		552		277		1,914		4.7		1,787		4.2
Total	$	36,919	$	2,085	$	1,468	$	40,472	100.0	%	$	43,082	100.0	%

Agricultural Portfolio Segment [Member]

Mortgage Loans on Real Estate [Line Items]

Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories

The credit quality of agricultural mortgage loans held-for-investment, were as follows at:

	December 31,
	2013				2012
	Recorded Investment		% of Total		Recorded Investment		% of Total
	(In millions)				(In millions)
Loan-to-value ratios:
Less than 65%	$	11,461	92.5	%	$	11,908	92.7	%
65% to 75%	729		5.9		590		4.6
76% to 80%	84		0.7		92		0.7
Greater than 80%	117		0.9		253		2.0
Total	$	12,391	100.0	%	$	12,843	100.0	%

Residential mortgage loans portfolio segment [Member]

Mortgage Loans on Real Estate [Line Items]

Disclosure of the mortgage loans portfolio segment by the recorded investment, prior to valuation allowances, by credit quality indicator categories

The credit quality of residential mortgage loans held-for-investment, were as follows at:

	December 31,
	2013				2012
	Recorded Investment		% of Total		Recorded Investment		% of Total
	(In millions)				(In millions)
Performance indicators:
Performing	$	2,693	97.1	%	$	929	97.0	%
Nonperforming	79		2.9		29		3.0
Total	$	2,772	100.0	%	$	958	100.0	%