Closed Block (Tables)

12 Months Ended

Dec. 31, 2017

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,
	2017			2016
	(In millions)
Closed Block Liabilities
Future policy benefits	$	40,463		$	40,834
Other policy-related balances	222			257
Policyholder dividends payable	437			443
Policyholder dividend obligation	2,121			1,931
Current income tax payable	—			4
Other liabilities	212			196
Total closed block liabilities	43,455			43,665
Assets Designated to the Closed Block
Investments:
Fixed maturity securities available-for-sale, at estimated fair value	27,904			27,220
Equity securities available-for-sale, at estimated fair value	70			100
Mortgage loans	5,878			5,935
Policy loans	4,548			4,553
Real estate and real estate joint ventures	613			655
Other invested assets	731			1,246
Total investments	39,744			39,709
Accrued investment income	477			467
Premiums, reinsurance and other receivables; cash and cash equivalents	14			86
Current income tax recoverable	35			—
Deferred income tax assets	36			177
Total assets designated to the closed block	40,306			40,439
Excess of closed block liabilities over assets designated to the closed block	3,149			3,226
Amounts included in AOCI:
Unrealized investment gains (losses), net of income tax	1,863			1,517
Unrealized gains (losses) on derivatives, net of income tax	(7		)	95
Allocated to policyholder dividend obligation, net of income tax	(1,379		)	(1,255		)
Total amounts included in AOCI	477			357
Maximum future earnings to be recognized from closed block assets and liabilities	$	3,626		$	3,583

Closed block policyholder dividend obligation

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

	Years Ended December 31,
	2017		2016		2015
	(In millions)
Balance at January 1,	$	1,931	$	1,783	$	3,155
Change in unrealized investment and derivative gains (losses)	190		148		(1,372		)
Balance at December 31,	$	2,121	$	1,931	$	1,783

Closed block revenues and expenses

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

	Years Ended December 31,
	2017			2016			2015
	(In millions)
Revenues
Premiums	$	1,736		$	1,804		$	1,850
Net investment income	1,818			1,902			1,982
Net investment gains (losses)	1			(10		)	(23		)
Net derivative gains (losses)	(32		)	25			27
Total revenues	3,523			3,721			3,836
Expenses
Policyholder benefits and claims	2,453			2,563			2,564
Policyholder dividends	976			953			1,015
Other expenses	125			133			143
Total expenses	3,554			3,649			3,722
Revenues, net of expenses before provision for income tax expense (benefit)	(31		)	72			114
Provision for income tax expense (benefit)	12			24			41
Revenues, net of expenses and provision for income tax expense (benefit)	$	(43	)	$	48		$	73