Closed Block (Tables)

12 Months Ended

Dec. 31, 2014

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,
	2014			2013
	(In millions)
Closed Block Liabilities
Future policy benefits	$	41,667		$	42,076
Other policy-related balances	265			298
Policyholder dividends payable	461			456
Policyholder dividend obligation	3,155			1,771
Current income tax payable	1			18
Other liabilities	646			582
Total closed block liabilities	46,195			45,201
Assets Designated to the Closed Block
Investments:
Fixed maturity securities available-for-sale, at estimated fair value	29,199			28,374
Equity securities available-for-sale, at estimated fair value	91			86
Mortgage loans	6,076			6,155
Policy loans	4,646			4,669
Real estate and real estate joint ventures	666			492
Other invested assets	1,065			814
Total investments	41,743			40,590
Cash and cash equivalents	227			238
Accrued investment income	477			477
Premiums, reinsurance and other receivables	67			98
Deferred income tax assets	289			293
Total assets designated to the closed block	42,803			41,696
Excess of closed block liabilities over assets designated to the closed block	3,392			3,505
Amounts included in AOCI:
Unrealized investment gains (losses), net of income tax	2,291			1,502
Unrealized gains (losses) on derivatives, net of income tax	28			(3		)
Allocated to policyholder dividend obligation, net of income tax	(2,051		)	(1,151		)
Total amounts included in AOCI	268			348
Maximum future earnings to be recognized from closed block assets and liabilities	$	3,660		$	3,853

Closed block policyholder dividend obligation

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

	Years Ended December 31,
	2014		2013			2012
	(In millions)
Balance at January 1,	$	1,771	$	3,828		$	2,919
Change in unrealized investment and derivative gains (losses)	1,384		(2,057		)	909
Balance at December 31,	$	3,155	$	1,771		$	3,828

Closed block revenues and expenses

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

	Years Ended December 31,
	2014		2013			2012
	(In millions)
Revenues
Premiums	$	1,918	$	1,987		$	2,139
Net investment income	2,093		2,130			2,188
Net investment gains (losses)	7		25			61
Net derivative gains (losses)	20		(6		)	(12		)
Total revenues	4,038		4,136			4,376
Expenses
Policyholder benefits and claims	2,598		2,702			2,783
Policyholder dividends	988		979			1,072
Other expenses	155		165			179
Total expenses	3,741		3,846			4,034
Revenues, net of expenses before provision for income tax expense (benefit)	297		290			342
Provision for income tax expense (benefit)	104		101			120
Revenues, net of expenses and provision for income tax expense (benefit) from continuing operations	193		189			222
Revenues, net of expenses and provision for income tax expense (benefit) from discontinued operations	—		—			10
Revenues, net of expenses and provision for income tax expense (benefit)	$	193	$	189		$	232