Closed Block (Tables)

12 Months Ended

Dec. 31, 2015

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,
	2015			2014
	(In millions)
Closed Block Liabilities
Future policy benefits	$	41,278		$	41,667
Other policy-related balances	249			265
Policyholder dividends payable	468			461
Policyholder dividend obligation	1,783			3,155
Current income tax payable	—			1
Other liabilities	380			646
Total closed block liabilities	44,158			46,195
Assets Designated to the Closed Block
Investments:
Fixed maturity securities available-for-sale, at estimated fair value	27,556			29,199
Equity securities available-for-sale, at estimated fair value	111			91
Mortgage loans	6,022			6,076
Policy loans	4,642			4,646
Real estate and real estate joint ventures	462			666
Other invested assets	1,066			1,065
Total investments	39,859			41,743
Cash and cash equivalents	236			227
Accrued investment income	474			477
Premiums, reinsurance and other receivables	56			67
Current income tax recoverable	11			—
Deferred income tax assets	234			289
Total assets designated to the closed block	40,870			42,803
Excess of closed block liabilities over assets designated to the closed block	3,288			3,392
Amounts included in AOCI:
Unrealized investment gains (losses), net of income tax	1,382			2,291
Unrealized gains (losses) on derivatives, net of income tax	76			28
Allocated to policyholder dividend obligation, net of income tax	(1,159		)	(2,051		)
Total amounts included in AOCI	299			268
Maximum future earnings to be recognized from closed block assets and liabilities	$	3,587		$	3,660

Closed block policyholder dividend obligation

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

	Years Ended December 31,
	2015			2014		2013
	(In millions)
Balance at January 1,	$	3,155		$	1,771	$	3,828
Change in unrealized investment and derivative gains (losses)	(1,372		)	1,384		(2,057		)
Balance at December 31,	$	1,783		$	3,155	$	1,771

Closed block revenues and expenses

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

	Years Ended December 31,
	2015			2014		2013
	(In millions)
Revenues
Premiums	$	1,850		$	1,918	$	1,987
Net investment income	1,982			2,093		2,130
Net investment gains (losses)	(23		)	7		25
Net derivative gains (losses)	27			20		(6		)
Total revenues	3,836			4,038		4,136
Expenses
Policyholder benefits and claims	2,564			2,598		2,702
Policyholder dividends	1,015			988		979
Other expenses	143			155		165
Total expenses	3,722			3,741		3,846
Revenues, net of expenses before provision for income tax expense (benefit)	114			297		290
Provision for income tax expense (benefit)	41			104		101
Revenues, net of expenses and provision for income tax expense (benefit)	$	73		$	193	$	189