Investments (Tables)

9 Months Ended

Sep. 30, 2011

Investments [Abstract]

Fixed Maturity and Equity Securities Available-for-Sale

	September 30, 2011
	Cost or		Gross Unrealized							Estimated
	Amortized				Temporary		OTTI			Fair		% of
	Cost		Gains		Losses		Losses			Value		Total
	(In millions)
Fixed Maturity Securities:
U.S. corporate securities	$	99,832	$	8,219	$	1,476	$	—		$	106,575		30.1	%
Foreign corporate securities (1)		61,013		3,616		1,108		(1	)		63,522		18.0
Foreign government securities		50,243		2,936		220		—			52,959		15.0
Residential mortgage-backed securities (“RMBS”)		40,799		2,383		698		591			41,893		11.8
U.S. Treasury and agency securities		36,159		5,686		11		—			41,834		11.8
Commercial mortgage-backed securities (“CMBS”)		19,259		635		307		2			19,585		5.5
Asset-backed securities (“ABS”)		14,765		322		583		86			14,418		4.1
State and political subdivision securities		11,939		1,371		169		—			13,141		3.7
Other fixed maturity securities		—		—		—		—			—		—
Total fixed maturity securities (2), (3)	$	334,009	$	25,168	$	4,572	$	678		$	353,927		100.0	%
Equity Securities:
Common stock	$	2,173	$	80	$	42	$	—		$	2,211		70.9	%
Non-redeemable preferred stock (2)		1,054		39		186		—			907		29.1
Total equity securities	$	3,227	$	119	$	228	$	—		$	3,118		100.0	%

	December 31, 2010
	Cost or		Gross Unrealized						Estimated
	Amortized				Temporary		OTTI		Fair		% of
	Cost		Gains		Losses		Losses		Value		Total
	(In millions)
Fixed Maturity Securities:
U.S. corporate securities	$	88,905	$	4,469	$	1,602	$	—	$	91,772		28.3	%
Foreign corporate securities		65,487		3,326		925		—		67,888		20.9
Foreign government securities		40,871		1,733		602		—		42,002		12.9
RMBS		44,468		1,652		917		470		44,733		13.8
U.S. Treasury and agency securities		32,469		1,394		559		—		33,304		10.2
CMBS		20,213		740		266		12		20,675		6.4
ABS		14,722		274		590		119		14,287		4.4
State and political subdivision securities		10,476		171		518		—		10,129		3.1
Other fixed maturity securities		6		1		—		—		7		—
Total fixed maturity securities (2), (3)	$	317,617	$	13,760	$	5,979	$	601	$	324,797		100.0	%
Equity Securities:
Common stock	$	2,059	$	146	$	12	$	—	$	2,193		60.9	%
Non-redeemable preferred stock (2)		1,562		76		229		—		1,409		39.1
Total equity securities	$	3,621	$	222	$	241	$	—	$	3,602		100.0	%

(1) OTTI losses as presented above represent the noncredit portion of OTTI losses that is included in accumulated other comprehensive income (loss). OTTI losses include both the initial recognition of noncredit losses, and the effects of subsequent increases and decreases in estimated fair value for those fixed maturity securities that were previously noncredit loss impaired. The noncredit loss component of OTTI losses for foreign corporate securities was in an unrealized gain (loss) position of $1 million at September 30, 2011 due to increases in estimated fair value subsequent to initial recognition of noncredit losses on such securities. See also “— Net Unrealized Investment Gains (Losses).”

(2) Upon acquisition, the Company classifies perpetual securities that have attributes of both debt and equity as fixed maturity securities if the security has an interest rate step-up feature which, when combined with other qualitative factors, indicates that the security has more debt-like characteristics; while those with more equity-like characteristics are classified as equity securities within non-redeemable preferred stock. Many of such securities have been issued by non-U.S. financial institutions that are accorded Tier 1 and Upper Tier 2 capital treatment by their respective regulatory bodies and are commonly referred to as “perpetual hybrid securities.” The following table presents the perpetual hybrid securities held by the Company at:

			September 30,		December 31,
			2011		2010
			Estimated		Estimated
Classification			Fair		Fair
Consolidated Balance Sheets	Sector Table	Primary Issuers	Value		Value
			(In millions)
Fixed maturity securities	Foreign corporate securities	Non-U.S. financial institutions	$	632	$	2,008
Fixed maturity securities	U.S. corporate securities	U.S. financial institutions	$	181	$	83
Equity securities	Non-redeemable preferred stock	Non-U.S. financial institutions	$	481	$	1,043
Equity securities	Non-redeemable preferred stock	U.S. financial institutions	$	381	$	236

(3) The Company’s holdings in redeemable preferred stock with stated maturity dates, commonly referred to as “capital securities,” were primarily issued by U.S. financial institutions and have cumulative interest deferral features. The Company held $2.0 billion and $2.7 billion at estimated fair value of such securities at September 30, 2011 and December 31, 2010, respectively, which are included in the U.S. and foreign corporate securities sectors within fixed maturity securities.

Selected information about certain fixed maturity securities

	September 30, 2011			December 31, 2010
	(In millions)
Below investment grade or non-rated fixed maturity securities:
Estimated fair value	$	24,494		$	24,870
Net unrealized gains (losses)	$	(1,683	)	$	(696	)
Non-income producing fixed maturity securities:
Estimated fair value	$	145		$	130
Net unrealized gains (losses)	$	(54	)	$	(23	)

Alt-A RMBS by vintage year and certain other selected data

	September 30, 2011					December 31, 2010
	Estimated					Estimated
	Fair		% of			Fair		% of
	Value		Total			Value		Total
	(In millions)					(In millions)
Vintage Year:
2005 & Prior	$	1,632		35.7	%	$	1,576		37.3	%
2006		1,294		28.3			1,013		24.0
2007		997		21.8			922		21.8
2008		—		—			7		0.2
2009 (1)		615		13.5			671		15.9
2010 (1)		34		0.7			32		0.8
2011		—		—			—		—
Total	$	4,572		100.0	%	$	4,221		100.0	%

(1) All of the Company’s Alt-A RMBS holdings in the 2009 and 2010 vintage years are resecuritization of real estate mortgage investment conduit (“Re-REMIC”) Alt-A RMBS that were purchased in 2009 and 2010 and are comprised of original issue vintage year 2005 through 2007 Alt-A RMBS. All of the Company’s Re-REMIC Alt-A RMBS holdings are NAIC 1 rated.

	September 30, 2011						December 31, 2010
				% of						% of
	Amount			Total			Amount			Total
	(In millions)						(In millions)
Net unrealized gains (losses)	$	(824	)				$	(670	)
Rated Aa/AA or better					12.7	%					15.9	%
Rated NAIC 1					47.1	%					39.5	%
Distribution of holdings — at estimated fair value — by collateral type:
Fixed rate mortgage loans collateral					92.7	%					90.7	%
Hybrid adjustable rate mortgage loans collateral					7.3						9.3
Total Alt-A RMBS					100.0	%					100.0	%

CMBS by rating agency designations and by vintage year

	September 30, 2011
																					Below
																					Investment
	Aaa					Aa					A					Baa					Grade					Total
			Estimated					Estimated					Estimated					Estimated					Estimated					Estimated
	Amortized		Fair			Amortized		Fair			Amortized		Fair			Amortized		Fair			Amortized		Fair			Amortized		Fair
	Cost		Value			Cost		Value			Cost		Value			Cost		Value			Cost		Value			Cost		Value
	(In millions)
2003 & Prior	$	5,936		6,040			178		176			105		101			58		55			21		20		$	6,298	$	6,392
2004		3,698		3,823			447		455			134		126			92		89			33		26			4,404		4,519
2005		3,117		3,316			400		401			324		311			168		153			37		26			4,046		4,207
2006		1,733		1,813			229		217			91		87			147		135			157		137			2,357		2,389
2007		700		714			439		362			163		137			39		38			126		117			1,467		1,368
2008		—		—			—		—			—		—			—		—			24		29			24		29
2009		2		2			—		—			—		—			—		—			—		—			2		2
2010		2		3			—		—			60		66			—		—			—		—			62		69
2011		505		513			—		—			94		97			—		—			—		—			599		610
Total	$	15,693	$	16,224		$	1,693	$	1,611		$	971	$	925		$	504	$	470		$	398	$	355		$	19,259	$	19,585
Ratings Distribution				82.8	%				8.3	%				4.7	%				2.4	%				1.8	%				100.0	%

	December 31, 2010
																					Below
																					Investment
	Aaa					Aa					A					Baa					Grade					Total
			Estimated					Estimated					Estimated					Estimated					Estimated					Estimated
	Amortized		Fair			Amortized		Fair			Amortized		Fair			Amortized		Fair			Amortized		Fair			Amortized		Fair
	Cost		Value			Cost		Value			Cost		Value			Cost		Value			Cost		Value			Cost		Value
	(In millions)
2003 & Prior	$	7,411	$	7,640		$	282	$	282		$	228	$	227		$	74	$	71		$	28	$	24		$	8,023	$	8,244
2004		3,489		3,620			277		273			216		209			181		175			91		68			4,254		4,345
2005		3,113		3,292			322		324			286		280			263		255			73		66			4,057		4,217
2006		1,463		1,545			159		160			168		168			385		398			166		156			2,341		2,427
2007		840		791			344		298			96		95			119		108			122		133			1,521		1,425
2008		2		2			—		—			—		—			—		—			—		—			2		2
2009		3		3			—		—			—		—			—		—			—		—			3		3
2010		8		8			—		—			4		4			—		—			—		—			12		12
Total	$	16,329	$	16,901		$	1,384	$	1,337		$	998	$	983		$	1,022	$	1,007		$	480	$	447		$	20,213	$	20,675
Ratings Distribution				81.7	%				6.4	%				4.8	%				4.9	%				2.2	%				100.0	%

The tables above reflect rating agency designations assigned by nationally recognized rating agencies including Moody’s, S&P, Fitch and Realpoint, LLC.

The NAIC rating distribution of the Company’s holdings of CMBS was as follows at:

	September 30, 2011			December 31, 2010
NAIC 1		94.3	%		93.7	%
NAIC 2		4.1	%		3.2	%
NAIC 3		0.5	%		1.8	%
NAIC 4		0.7	%		1.0	%
NAIC 5		—	%		0.3	%
NAIC 6		0.4	%		—	%

ABS

	September 30, 2011					December 31, 2010
	Estimated					Estimated
	Fair		% of			Fair		% of
	Value		Total			Value		Total
	(In millions)					(In millions)
By collateral type:
Credit card loans	$	4,444		30.8	%	$	6,027		42.2	%
Student loans		2,645		18.4			2,416		16.9
Collateralized debt obligations		2,578		17.9			1,798		12.6
Automobile loans		1,039		7.2			605		4.2
RMBS backed by sub-prime mortgage loans		997		6.9			1,119		7.8
Other loans		2,715		18.8			2,322		16.3
Total	$	14,418		100.0	%	$	14,287		100.0	%
Rated Aaa/AAA	$	9,250		64.2	%	$	10,411		72.9	%
Rated NAIC 1	$	13,324		92.4	%	$	13,133		91.9	%

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

	September 30, 2011				December 31, 2010
			Estimated				Estimated
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(In millions)
Due in one year or less	$	13,713	$	13,813	$	8,580	$	8,702
Due after one year through five years		68,498		70,234		65,143		66,796
Due after five years through ten years		83,338		88,497		76,508		79,571
Due after ten years		93,637		105,487		87,983		90,033
Subtotal		259,186		278,031		238,214		245,102
RMBS, CMBS and ABS		74,823		75,896		79,403		79,695
Total fixed maturity securities	$	334,009	$	353,927	$	317,617	$	324,797

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

	September 30, 2011			December 31, 2010
	(In millions)
Fixed maturity securities	$	20,703		$	7,817
Fixed maturity securities with noncredit OTTI losses in accumulated other comprehensive income (loss)		(678	)		(601	)
Total fixed maturity securities		20,025			7,216
Equity securities		(95	)		(3	)
Derivatives		1,486			(59	)
Other		63			42
Subtotal		21,479			7,196
Amounts allocated from:
Insurance liability loss recognition		(3,946	)		(672	)
DAC and VOBA related to noncredit OTTI losses recognized in accumulated other comprehensive income (loss)		41			38
DAC and VOBA		(2,070	)		(1,205	)
Policyholder dividend obligation		(2,782	)		(876	)
Subtotal		(8,757	)		(2,715	)
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in accumulated other comprehensive income (loss)		220			197
Deferred income tax benefit (expense)		(4,504	)		(1,692	)
Net unrealized investment gains (losses)		8,438			2,986
Net unrealized investment gains (losses) attributable to noncontrolling interests		9			4
Net unrealized investment gains (losses) attributable to MetLife, Inc.	$	8,447		$	2,990

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

	Nine Months
	Ended
	September 30, 2011
	(In millions)
Balance, beginning of period	$	2,990
Fixed maturity securities on which noncredit OTTI losses have been recognized		(77	)
Unrealized investment gains (losses) during the period		14,360
Unrealized investment gains (losses) relating to:
Insurance liability gain (loss) recognition		(3,274	)
DAC and VOBA related to noncredit OTTI losses recognized in accumulated other comprehensive income (loss)		3
DAC and VOBA		(865	)
Policyholder dividend obligation		(1,906	)
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in accumulated other comprehensive income (loss)		23
Deferred income tax benefit (expense)		(2,812	)
Net unrealized investment gains (losses)		8,442
Net unrealized investment gains (losses) attributable to noncontrolling interests		5
Balance, end of period	$	8,447
Change in net unrealized investment gains (losses)	$	5,452
Change in net unrealized investment gains (losses) attributable to noncontrolling interests		5
Change in net unrealized investment gains (losses) attributable to MetLife, Inc.	$	5,457

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

	September 30, 2011
					Equal to or Greater
	Less than 12 Months				than 12 Months				Total
	Estimated		Gross		Estimated		Gross		Estimated		Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In millions, except number of securities)
Fixed Maturity Securities:
U.S. corporate securities	$	18,303	$	597	$	4,981	$	879	$	23,284	$	1,476
Foreign corporate securities		16,560		846		1,480		261		18,040		1,107
Foreign government securities		8,092		208		158		12		8,250		220
RMBS		3,761		324		4,501		965		8,262		1,289
U.S. Treasury and agency securities		8,937		9		39		2		8,976		11
CMBS		4,974		200		620		109		5,594		309
ABS		4,670		189		2,087		480		6,757		669
State and political subdivision securities		416		6		981		163		1,397		169
Other fixed maturity securities		—		—		—		—		—		—
Total fixed maturity securities	$	65,713	$	2,379	$	14,847	$	2,871	$	80,560	$	5,250
Equity Securities:
Common stock	$	416	$	41	$	23	$	1	$	439	$	42
Non-redeemable preferred stock		227		30		386		156		613		186
Total equity securities	$	643	$	71	$	409	$	157	$	1,052	$	228
Total number of securities in an unrealized loss position		4,414				1,340

	December 31, 2010
					Equal to or Greater
	Less than 12 Months				than 12 Months				Total
	Estimated		Gross		Estimated		Gross		Estimated		Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In millions, except number of securities)
Fixed Maturity Securities:
U.S. corporate securities	$	22,954	$	447	$	8,319	$	1,155	$	31,273	$	1,602
Foreign corporate securities		22,415		410		3,976		515		26,391		925
Foreign government securities		26,659		585		189		17		26,848		602
RMBS		7,588		212		6,700		1,175		14,288		1,387
U.S. Treasury and agency securities		13,401		530		118		29		13,519		559
CMBS		3,787		29		1,363		249		5,150		278
ABS		2,713		42		3,026		667		5,739		709
State and political subdivision securities		5,061		246		988		272		6,049		518
Other fixed maturity securities		1		—		—		—		1		—
Total fixed maturity securities	$	104,579	$	2,501	$	24,679	$	4,079	$	129,258	$	6,580
Equity Securities:
Common stock	$	89	$	12	$	1	$	—	$	90	$	12
Non-redeemable preferred stock		191		9		824		220		1,015		229
Total equity securities	$	280	$	21	$	825	$	220	$	1,105	$	241
Total number of securities in an unrealized loss position		5,609				1,704

Aging Of Gross Unrealized Loss And OTTI Loss For Debt And Equity Securities Available For Sale

	September 30, 2011
	Cost or Amortized Cost				Gross Unrealized Losses						Number of Securities
	Less than		20% or		Less than			20% or			Less than		20% or
	20%		more		20%			more			20%		more
	(In millions, except number of securities)
Fixed Maturity Securities:
Less than six months	$	50,785	$	5,026	$	1,365		$	1,377			2,871		290
Six months or greater but less than nine months		1,747		349		68			106			200		23
Nine months or greater but less than twelve months		13,543		147		367			41			1,126		9
Twelve months or greater		11,858		2,355		1,018			908			971		181
Total	$	77,933	$	7,877	$	2,818		$	2,432
Percentage of amortized cost						4	%		31	%
Equity Securities:
Less than six months	$	571	$	304	$	36		$	89			168		54
Six months or greater but less than nine months		10		—		1			—			7		3
Nine months or greater but less than twelve months		46		1		4			1			14		9
Twelve months or greater		125		223		12			85			11		13
Total	$	752	$	528	$	53		$	175
Percentage of cost						7	%		33	%

	December 31, 2010
	Cost or Amortized Cost				Gross Unrealized Losses						Number of Securities
	Less than		20% or		Less than			20% or			Less than		20% or
	20%		more		20%			more			20%		more
	(In millions, except number of securities)
Fixed Maturity Securities:
Less than six months	$	105,301	$	1,403	$	2,348		$	368			5,320		121
Six months or greater but less than nine months		1,125		376		29			102			104		29
Nine months or greater but less than twelve months		371		89		28			27			50		9
Twelve months or greater		21,627		5,546		1,863			1,815			1,245		311
Total	$	128,424	$	7,414	$	4,268		$	2,312
Percentage of amortized cost						3	%		31	%
Equity Securities:
Less than six months	$	247	$	94	$	10		$	22			106		33
Six months or greater but less than nine months		29		65		5			16			3		2
Nine months or greater but less than twelve months		6		47		—			16			3		2
Twelve months or greater		518		340		56			116			35		14
Total	$	800	$	546	$	71		$	170
Percentage of cost						9	%		31	%

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

	September 30, 2011			December 31, 2010
Sector:
U.S. corporate securities		27	%		23	%
RMBS		24			20
Foreign corporate securities		20			14
ABS		12			10
CMBS		6			4
Foreign government securities		4			9
State and political subdivision securities		3			8
U.S. Treasury and agency securities		—			8
Other		4			4
Total		100	%		100	%
Industry:
Mortgage-backed		30	%		24	%
Finance		25			21
Asset-backed		12			10
Utility		8			5
Consumer		7			4
Foreign government securities		4			9
Communications		4			2
State and political subdivision securities		3			8
Industrial		3			2
U.S. Treasury and agency securities		—			8
Other		4			7
Total		100	%		100	%

Gross unrealized loss greater than $10 million for fixed maturity and equity securities

	September 30, 2011						December 31, 2010
	Fixed Maturity			Equity			Fixed Maturity			Equity
	Securities			Securities			Securities			Securities
	(In millions, except number of securities)
Number of securities		86			5			107			6
Total gross unrealized losses	$	1,612		$	79		$	2,014		$	103
Percentage of total gross unrealized losses		31	%		34	%		31	%		43	%

Equity securities available-for-sale with a gross unrealized loss of 20% or more

			Non-Redeemable Preferred Stock
			All Types of
	All Equity		Non-Redeemable					Investment Grade
	Securities		Preferred Stock					All Industries					Financial Services Industry
	Gross		Gross		% of All			Gross		% of All			Gross					% A
	Unrealized		Unrealized		Equity			Unrealized		Non-Redeemable			Unrealized		% of All			Rated or
	Losses		Losses		Securities			Losses		Preferred Stock			Losses		Industries			Better
	(In millions)							(In millions)					(In millions)
Less than six months	$	89	$	67		75	%	$	52		78	%	$	52		100	%		52	%
Six months or greater but less than twelve months		1		—		—	%		—		—	%		—		—	%		—	%
Twelve months or greater		85		85		100	%		85		100	%		85		100	%		72	%
All equity securities with gross unrealized losses of 20% or more	$	175	$	152		87	%	$	137		90	%	$	137		100	%		64	%

Trading Securities Portfolio

	September 30, 2011			December 31, 2010
	(In millions)
Actively Traded Securities	$	415		$	463
FVO general account securities		269			131
FVO contractholder-directed unit-linked investments		17,874			17,794
FVO securities held by CSEs		140			201
Total trading and other securities — at estimated fair value	$	18,698		$	18,589
Actively Traded Securities — at estimated fair value	$	415		$	463
Short sale agreement liabilities — at estimated fair value		(67	)		(46	)
Net long/short position — at estimated fair value	$	348		$	417
Investments pledged to secure short sale agreement liabilities	$	467		$	465

The components of net investment gains (losses)

	Three Months						Nine Months
	Ended						Ended
	September 30,						September 30,
	2011			2010			2011			2010
	(In millions)
Total gains (losses) on fixed maturity securities:
Total OTTI losses recognized	$	(95	)	$	(143	)	$	(525	)	$	(538	)
Less: Noncredit portion of OTTI losses transferred to and recognized in other comprehensive income (loss)		(189	)		24			(5	)		181
Net OTTI losses on fixed maturity securities recognized in earnings		(284	)		(119	)		(530	)		(357	)
Fixed maturity securities — net gains (losses) on sales and disposals		101			54			79			99
Total gains (losses) on fixed maturity securities		(183	)		(65	)		(451	)		(258	)
Other net investment gains (losses):
Equity securities		(3	)		(1	)		(37	)		100
Trading and other securities — FVO general account securities — changes in estimated fair value		(3	)		—			(3	)		—
Mortgage loans		45			37			160			20
Real estate and real estate joint ventures		139			(1	)		144			(50	)
Other limited partnership interests		—			(4	)		8			(15	)
Other investment portfolio gains (losses)		—			(67	)		(2	)		9
Subtotal — investment portfolio gains (losses)		(5	)		(101	)		(181	)		(194	)
FVO CSEs — changes in estimated fair value:
Commercial mortgage loans		(64	)		114			(39	)		767
Securities		2			(26	)		1			(47	)
Long-term debt — related to commercial mortgage loans		56			(109	)		48			(744	)
Long-term debt — related to securities		(1	)		37			(8	)		48
Other gains (losses) (1)		(43	)		(257	)		(130	)		(154	)
Subtotal FVO CSEs and other gains (losses)		(50	)		(241	)		(128	)		(130	)
Total net investment gains (losses)	$	(55	)	$	(342	)	$	(309	)	$	(324	)

(1) Other gains (losses) for the three months and nine months ended September 30, 2011 includes a loss of $0 and $87 million, respectively, related to the sale of the Company’s investment in MSI MetLife. See Note 2. Other gains (losses) for both the three months and nine months ended September 30, 2011 includes a loss of $65 million related to goodwill impairment. See Note 6.

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

	Three Months Ended September 30,
	2011			2010			2011			2010			2011			2010
	Fixed Maturity Securities						Equity Securities						Total
	(In millions)
Proceeds	$	19,368		$	10,747		$	169		$	96		$	19,537		$	10,843
Gross investment gains	$	252		$	190		$	9		$	7		$	261		$	197
Gross investment losses		(151	)		(136	)		(7	)		(7	)		(158	)		(143	)
Total OTTI losses recognized in earnings:
Credit-related		(269	)		(107	)		—			—			(269	)		(107	)
Other (1)		(15	)		(12	)		(5	)		(1	)		(20	)		(13	)
Total OTTI losses recognized in earnings		(284	)		(119	)		(5	)		(1	)		(289	)		(120	)
Net investment gains (losses)	$	(183	)	$	(65	)	$	(3	)	$	(1	)	$	(186	)	$	(66	)

	Nine Months Ended September 30,
	2011			2010			2011			2010			2011			2010
	Fixed Maturity Securities						Equity Securities						Total
	(In millions)
Proceeds	$	55,216		$	32,585		$	974		$	539		$	56,190		$	33,124
Gross investment gains	$	680		$	568		$	83		$	114		$	763		$	682
Gross investment losses		(601	)		(469	)		(62	)		(11	)		(663	)		(480	)
Total OTTI losses recognized in earnings:
Credit-related		(382	)		(339	)		—			—			(382	)		(339	)
Other (1)		(148	)		(18	)		(58	)		(3	)		(206	)		(21	)
Total OTTI losses recognized in earnings		(530	)		(357	)		(58	)		(3	)		(588	)		(360	)
Net investment gains (losses)	$	(451	)	$	(258	)	$	(37	)	$	100		$	(488	)	$	(158	)

(1) Other OTTI losses recognized in earnings include impairments on equity securities, impairments on 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 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)

	Three Months						Nine Months
	Ended						Ended
	September 30,						September 30,
	2011			2010			2011			2010
	(In millions)
Balance, beginning of period	$	401		$	491		$	443		$	581
Additions:
Initial impairments — credit loss OTTI recognized on securities not previously impaired		6			13			32			94
Additional impairments — credit loss OTTI recognized on securities previously impaired		39			34			79			104
Reductions:
Due to sales (maturities, pay downs or prepayments) during the period of securities previously impaired as credit loss OTTI		(8	)		(97	)		(63	)		(231	)
Due to securities de-recognized in connection with the adoption of new guidance related to the consolidation of VIEs		—			—			—			(100	)
Due to securities impaired to net present value of expected future cash flows		(1	)		—			(45	)		—
Due to increases in cash flows — accretion of previous credit loss OTTI		—			(2	)		(9	)		(9	)
Balance, end of period	$	437		$	439		$	437		$	439

The Components of Net Investment Income

	Three Months						Nine Months
	Ended						Ended
	September 30,						September 30,
	2011			2010			2011			2010
	(In millions)
Investment income:
Fixed maturity securities	$	3,770		$	3,060		$	11,244		$	9,126
Equity securities		28			19			106			83
Trading and other securities — Actively Traded Securities and FVO general account securities (1)		(38	)		45			6			56
Mortgage loans		806			713			2,331			2,081
Policy loans		162			155			482			488
Real estate and real estate joint ventures		213			131			557			300
Other limited partnership interests		180			170			582			596
Cash, cash equivalents and short-term investments		41			26			131			64
International joint ventures (2)		7			19			(3	)		(61	)
Other		82			(7	)		151			181
Subtotal		5,251			4,331			15,587			12,914
Less: Investment expenses		271			222			774			654
Subtotal, net		4,980			4,109			14,813			12,260
Trading and other securities — FVO contractholder-directed unit-linked investments (1)		(824	)		149			(437	)		161
FVO CSEs:
Commercial mortgage loans		95			102			286			312
Securities		6			4			7			12
Subtotal		(723	)		255			(144	)		485
Net investment income	$	4,257		$	4,364		$	14,669		$	12,745

(1) Changes in estimated fair value subsequent to purchase included in net investment income were:

Trading and other securities — Actively Traded Securities and FVO general account securities	$	(46	)	$	29	$	(25	)	$	16
Trading and other securities — FVO contractholder-directed unit-linked investments	$	(873	)	$	124	$	(641	)	$	111

(2) Amounts are presented net of changes in estimated fair value of derivatives related to economic hedges of the Company’s investment in these equity method international joint venture investments that do not qualify for hedge accounting of $0 and ($23) million for the three months and nine months ended September 30, 2011, respectively, and ($12) million and $65 million for the three months and nine months ended September 30, 2010, respectively.

Securities Lending

	September 30, 2011		December 31, 2010
	(In millions)
Securities on loan:
Amortized cost	$	22,488	$	23,715
Estimated fair value	$	26,040	$	24,230
Aging of cash collateral liability:
Open (1)	$	2,440	$	2,752
Less than thirty days		14,993		12,301
Thirty days or greater but less than sixty days		5,405		4,399
Sixty days or greater but less than ninety days		2,057		2,291
Ninety days or greater		908		2,904
Total cash collateral liability	$	25,803	$	24,647
Security collateral on deposit from counterparties	$	613	$	—
Reinvestment portfolio — estimated fair value	$	25,520	$	24,177

(1) Open — meaning that the related loaned security could be returned to the Company on the next business day, requiring the Company to immediately return the cash collateral.

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

	September 30, 2011		December 31, 2010
	(In millions)
Invested assets on deposit:
Regulatory agencies	$	2,050	$	2,110
Invested assets held in trust:
Collateral financing arrangements		5,342		5,340
Reinsurance arrangements		4,885		3,090
Invested assets pledged as collateral:
Funding agreements and advances — Federal Home Loan Bank (“FHLB”) of New York		21,385		21,975
Funding agreements — Federal Agricultural Mortgage Corporation		3,160		3,159
Funding agreements — FHLB of Des Moines		904		—
Funding agreements — FHLB of Boston		529		211
Federal Reserve Bank of New York		1,686		1,822
Collateral financing arrangements		273		112
Derivative transactions		1,029		1,726
Short sale agreements		467		465
Total invested assets on deposit, held in trust and pledged as collateral	$	41,710	$	40,010

Disclosure of Mortgage Loans Net of Valuation Allowance

	September 30, 2011						December 31, 2010
	Carrying			% of			Carrying			% of
	Value			Total			Value			Total
	(In millions)						(In millions)
Mortgage loans held-for-investment:
Commercial	$	40,120			63.8	%	$	37,818			60.7	%
Agricultural		12,967			20.6			12,751			20.4
Residential		3,424			5.4			2,231			3.7
Subtotal		56,511			89.8			52,800			84.8
Valuation allowances		(529	)		(0.8	)		(664	)		(1.1	)
Subtotal mortgage loans held-for-investment, net		55,982			89.0			52,136			83.7
Commercial mortgage loans held by CSEs — FVO		3,227			5.1			6,840			11.0
Total mortgage loans held-for-investment, net		59,209			94.1			58,976			94.7
Mortgage loans held-for-sale:
Residential — FVO		2,590			4.1			2,510			4.0
Mortgage loans — lower of amortized cost or estimated fair value		1,150			1.8			811			1.3
Total mortgage loans held-for-sale		3,740			5.9			3,321			5.3
Total mortgage loans, net	$	62,949			100.0	%	$	62,297			100.0	%

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

	Commercial		Agricultural		Residential		Total
	(In millions)
September 30, 2011:
Mortgage loans:
Evaluated individually for credit losses	$	211	$	150	$	7	$	368
Evaluated collectively for credit losses		39,909		12,817		3,417		56,143
Total mortgage loans		40,120		12,967		3,424		56,511
Valuation allowances:
Specific credit losses		70		46		1		117
Non-specifically identified credit losses		358		36		18		412
Total valuation allowances		428		82		19		529
Mortgage loans, net of valuation allowance	$	39,692	$	12,885	$	3,405	$	55,982
December 31, 2010:
Mortgage loans:
Evaluated individually for credit losses	$	120	$	146	$	13	$	279
Evaluated collectively for credit losses		37,698		12,605		2,218		52,521
Total mortgage loans		37,818		12,751		2,231		52,800
Valuation allowances:
Specific credit losses		36		52		—		88
Non-specifically identified credit losses		526		36		14		576
Total valuation allowances		562		88		14		664
Mortgage loans, net of valuation allowance	$	37,256	$	12,663	$	2,217	$	52,136

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

	Mortgage Loan Valuation Allowances
	Commercial			Agricultural			Residential			Total
	(In millions)
For the Three Months Ended September 30, 2011:
Balance, beginning of period	$	469		$	79		$	18		$	566
Provision (release)		(41	)		3			2			(36	)
Charge-offs, net of recoveries		—			—			(1	)		(1	)
Balance, end of period	$	428		$	82		$	19		$	529
For the Three Months Ended September 30, 2010:
Balance, beginning of period	$	621		$	96		$	17		$	734
Provision (release)		(27	)		1			3			(23	)
Charge-offs, net of recoveries		(21	)		(21	)		(3	)		(45	)
Balance, end of period	$	573		$	76		$	17		$	666
For the Nine Months Ended September 30, 2011:
Balance, beginning of period	$	562		$	88		$	14		$	664
Provision (release)		(134	)		(3	)		7			(130	)
Charge-offs, net of recoveries		—			(3	)		(2	)		(5	)
Balance, end of period	$	428		$	82		$	19		$	529
For the Nine Months Ended September 30, 2010:
Balance, beginning of period	$	589		$	115		$	17		$	721
Provision (release)		6			—			5			11
Charge-offs, net of recoveries		(22	)		(39	)		(5	)		(66	)
Balance, end of period	$	573		$	76		$	17		$	666

Schedule of Financing Receivables, Non Accrual Status

					Greater than 90 Days Past Due
	Past Due				Still Accruing Interest				Nonaccrual Status
	September 30, 2011		December 31, 2010		September 30, 2011		December 31, 2010		September 30, 2011		December 31, 2010
	(In millions)
Commercial	$	155	$	58	$	115	$	1	$	60	$	7
Agricultural		141		159		7		13		165		177
Residential		33		79		8		11		23		25
Total	$	329	$	296	$	130	$	25	$	248	$	209

Impaired mortgage loans held-for-investment

	Impaired Mortgage Loans
									Loans without
	Loans with a Valuation Allowance								a Valuation Allowance				All Impaired Loans
	Unpaid								Unpaid				Unpaid
	Principal		Recorded		Valuation		Carrying		Principal		Recorded		Principal		Carrying
	Balance (1)		Investment		Allowances		Value		Balance (1)		Investment		Balance (1)		Value
	(In millions)
September 30, 2011:
Commercial	$	211	$	211	$	70	$	141	$	240	$	228	$	451	$	369
Agricultural		150		150		46		104		84		81		234		185
Residential		7		7		1		6		14		14		21		20
Total	$	368	$	368	$	117	$	251	$	338	$	323	$	706	$	574
December 31, 2010:
Commercial	$	120	$	120	$	36	$	84	$	99	$	87	$	219	$	171
Agricultural		146		146		52		94		123		119		269		213
Residential		3		3		—		3		16		16		19		19
Total	$	269	$	269	$	88	$	181	$	238	$	222	$	507	$	403

(1) Unpaid principal balance is generally prior to any charge-offs.

	Impaired Mortgage Loans
	Average Investment		Interest Income Recognized
			Cash Basis		Accrual Basis
	(In millions)
For the Three Months Ended September 30, 2011:
Commercial	$	330	$	—	$	—
Agricultural		229		1		—
Residential		17		—		—
Total	$	576	$	1	$	—
For the Three Months Ended September 30, 2010:
Commercial	$	148	$	—	$	—
Agricultural		286		—		1
Residential		18		—		—
Total	$	452	$	—	$	1
For the Nine Months Ended September 30, 2011:
Commercial	$	308	$	1	$	—
Agricultural		258		3		1
Residential		26		—		—
Total	$	592	$	4	$	1
For the Nine Months Ended September 30, 2010:
Commercial	$	147	$	4	$	1
Agricultural		288		3		1
Residential		15		—		—
Total	$	450	$	7	$	2

Mortgage loans modified in a troubled debt restructuring

	Mortgage Loans Modified in a Troubled Debt
	Restructuring
	September 30,2011
	Number of
	Mortgage		Carrying Value after Specific
	Loans		Valuation Allowance
			Pre-		Post-
			Modification		Modification
			(In millions)
Commercial		5	$	147	$	109
Agricultural		9		36		37
Residential		3		1		1
Total		17	$	184	$	147

	Fixed Maturity Securities				Mortgage Loans
	Nine Months				Nine Months
	Ended				Ended
	September 30,				September 30,
	2011		2010		2011		2010
	(In millions)
Contractually required payments (including interest)	$	3,528	$	1,544	$	—	$	—
Cash flows expected to be collected (1)	$	3,275	$	1,479	$	—	$	—
Fair value of investments acquired	$	1,816	$	889	$	—	$	—

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

	Fixed Maturity Securities												Mortgage Loans
	Three Months						Nine Months						Three Months					Nine Months
	Ended						Ended						Ended					Ended
	September 30,						September 30,						September 30,					September 30,
	2011			2010			2011			2010			2011			2010		2011			2010
	(In millions)
Accretable yield, beginning of period	$	1,891		$	369		$	541		$	—		$	258		$	—	$	170		$	—
Investments purchased		238			202			1,459			590			—			—		—			—
Accretion recognized in net investment income		(23	)		(27	)		(72	)		(34	)		(6	)		—		(38	)		—
Disposals		—			—			(69	)		—			—			—		—			—
Reclassification (to) from nonaccretable difference		68			(41	)		315			(53	)		17			—		137			—
Accretable yield, end of period	$	2,174		$	503		$	2,174		$	503		$	269		$	—	$	269		$	—

Purchased credit impaired investments, by invested asset class, held

	Fixed Maturity Securities				Mortgage Loans
	September 30, 2011		December 31, 2010		September 30, 2011		December 31, 2010
	(In millions)
Outstanding principal and interest balance (1)	$	3,685	$	1,548	$	542	$	504
Carrying value (2)	$	2,536	$	1,050	$	225	$	195

(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.

Schedule of Available-for-sale Securities [Line Items]

Other than temporary impairment losses recognized in earnings

	September 30, 2011			December 31, 2010
	(In millions)
Balance, beginning of period	$	(601	)	$	(859	)
Noncredit OTTI losses recognized (1)		5			(212	)
Transferred to retained earnings (2)		—			16
Securities sold with previous noncredit OTTI loss		99			137
Subsequent changes in estimated fair value		(181	)		317
Balance, end of period	$	(678	)	$	(601	)

(1) Noncredit OTTI losses recognized, net of DAC, were $6 million and ($202) million for the periods ended September 30, 2011 and December 31, 2010, respectively.

(2) Amounts transferred to retained earnings were in connection with the adoption of guidance related to the consolidation of VIEs as described in Note 1 of the Notes to the Consolidated Financial Statements included in the 2010 Annual Report.

US Government Agencies Debt Securities [Member]

Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]

Concentrations of Credit Risk (Fixed Maturity Securities)

	September 30, 2011		December 31, 2010
	Carrying Value (1)
	(In millions)
Government and agency fixed maturity securities:
United States	$	41,834	$	33,304
Japan	$	20,644	$	15,591
Mexico (2)	$	—	$	5,050
U.S. Treasury and agency fixed-income securities included in:
Short-term investments	$	13,565	$	4,048
Cash equivalents	$	2,847	$	5,762

(1)	Represents estimated fair value for fixed maturity securities; amortized cost, which approximates estimated fair value or estimated fair value, if available, for short-term investments; and amortized cost, which approximates estimated fair value, for cash equivalents.
(2)	The Company’s investment in Mexico government and agency fixed maturity securities at September 30, 2011 of $5,028 million is less than 10% of the Company’s equity.

Corporate fixed maturity securities [Member]

Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]

Concentrations of Credit Risk (Fixed Maturity Securities)

	September 30, 2011					December 31, 2010
	Estimated					Estimated
	Fair		% of			Fair		% of
	Value		Total			Value		Total
	(In millions)					(In millions)
Corporate fixed maturity securities — by sector:
Foreign corporate fixed maturity securities (1)	$	63,522		37.3	%	$	67,888		42.5	%
U.S. corporate fixed maturity securities — by industry:
Industrial		27,245		16.0			22,070		13.8
Consumer		26,414		15.5			21,482		13.5
Finance		21,864		12.9			20,785		13.0
Utility		19,152		11.3			16,902		10.6
Communications		8,318		4.9			7,335		4.6
Other		3,582		2.1			3,198		2.0
Total	$	170,097		100.0	%	$	159,660		100.0	%

(1) Includes U.S. dollar-denominated debt obligations of foreign obligors and other foreign fixed maturity securities.

	September 30, 2011					December 31, 2010
	Estimated					Estimated
	Fair		% of Total			Fair		% of Total
	Value		Investments			Value		Investments
	(In millions)					(In millions)
Concentrations within corporate fixed maturity securities:
Largest exposure to a single issuer	$	1,883		0.4	%	$	2,291		0.5	%
Holdings in ten issuers with the largest exposures	$	11,955		2.4	%	$	14,247		3.1	%

RMBS [Member]

Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]

Concentrations of Credit Risk (Fixed Maturity Securities)

	September 30, 2011					December 31, 2010
	Estimated					Estimated
	Fair		% of			Fair		% of
	Value		Total			Value		Total
	(In millions)					(In millions)
By security type:
Collateralized mortgage obligations	$	22,903		54.7	%	$	22,303		49.9	%
Pass-through securities		18,990		45.3			22,430		50.1
Total RMBS	$	41,893		100.0	%	$	44,733		100.0	%
By risk profile:
Agency	$	31,386		74.9	%	$	34,254		76.6	%
Prime		5,935		14.2			6,258		14.0
Alternative residential mortgage loans		4,572		10.9			4,221		9.4
Total RMBS	$	41,893		100.0	%	$	44,733		100.0	%
Rated Aaa/AAA	$	32,452		77.5	%	$	36,085		80.7	%
Rated NAIC 1	$	36,543		87.2	%	$	38,984		87.1	%

Fixed maturity securities [Member]

Schedule of Available-for-sale Securities [Line Items]

Other than temporary impairment losses recognized in earnings

	Three Months				Nine Months
	Ended				Ended
	September 30,				September 30,
	2011		2010		2011		2010
			(In millions)
Sector:
U.S. and foreign corporate securities — by industry:
Finance	$	7	$	54	$	48	$	82
Consumer		6		8		35		31
Communications		12		9		26		12
Utility		6		—		7		3
Total U.S. and foreign corporate securities		31		71		116		128
Foreign government securities		206		—		295		—
RMBS		34		19		88		76
ABS		8		26		23		89
CMBS		5		3		8		64
Total	$	284	$	119	$	530	$	357

Equity Securities [Member]

Schedule of Available-for-sale Securities [Line Items]

Other than temporary impairment losses recognized in earnings

	Three Months				Nine Months
	Ended				Ended
	September 30,				September 30,
	2011		2010		2011		2010
	(In millions)
Sector:
Non-redeemable preferred stock	$	—	$	—	$	38	$	—
Common stock		5		1		20		3
Total	$	5	$	1	$	58	$	3
Industry:
Financial services industry — perpetual hybrid securities	$	—	$	—	$	38	$	—
Other industries		5		1		20		3
Total	$	5	$	1	$	58	$	3

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

	Commercial
	Recorded Investment
	Debt Service Coverage Ratios											Estimated
	> 1.20x		1.00x - 1.20x		< 1.00x		Total		% of Total			Fair Value		% of Total
	(In millions)											(In millions)
September 30, 2011:
Loan-to-value ratios:
Less than 65%	$	22,293	$	438	$	565	$	23,296		58.1	%	$	24,587		59.2	%
65% to 75%		9,243		426		383		10,052		25.0			10,404		25.1
76% to 80%		1,848		251		156		2,255		5.6			2,301		5.6
Greater than 80%		3,070		922		525		4,517		11.3			4,183		10.1
Total	$	36,454	$	2,037	$	1,629	$	40,120		100.0	%	$	41,475		100.0	%
December 31, 2010:
Loan-to-value ratios:
Less than 65%	$	16,663	$	125	$	483	$	17,271		45.7	%	$	18,183		46.9	%
65% to 75%		9,022		765		513		10,300		27.2			10,685		27.6
76% to 80%		3,033		304		135		3,472		9.2			3,535		9.1
Greater than 80%		4,155		1,813		807		6,775		17.9			6,374		16.4
Total	$	32,873	$	3,007	$	1,938	$	37,818		100.0	%	$	38,777		100.0	%

Agricultural 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

	Agricultural
	September 30, 2011					December 31, 2010
	Recorded Investment		% of Total			Recorded Investment		% of Total
	(In millions)					(In millions)
Loan-to-value ratios:
Less than 65%	$	11,818		91.1	%	$	11,483		90.1	%
65% to 75%		740		5.7			885		6.9
76% to 80%		19		0.2			48		0.4
Greater than 80%		390		3.0			335		2.6
Total	$	12,967		100.0	%	$	12,751		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

	Residential
	September 30, 2011					December 31, 2010
	Recorded Investment		% of Total			Recorded Investment		% of Total
	(In millions)					(In millions)
Performance indicators:
Performing	$	3,399		99.3	%	$	2,149		96.3	%
Nonperforming		25		0.7			82		3.7
Total	$	3,424		100.0	%	$	2,231		100.0	%

Variable Interest Entity, Primary Beneficiary [Member]

Variable Interest Entity [Line Items]

Variable Interest Entities

	September 30, 2011				December 31, 2010
	Total		Total		Total		Total
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Consolidated securitization entities (1)	$	3,397	$	3,204	$	7,114	$	6,892
MRSC collateral financing arrangement (2)		3,317		—		3,333		—
Other limited partnership interests		343		7		319		85
Trading and other securities		181		—		186		—
Other invested assets		102		1		108		1
Real estate joint ventures		13		19		20		17
Total	$	7,353	$	3,231	$	11,080	$	6,995

(1) The Company consolidates former qualified special purpose entities (“QSPEs”) that are structured as CMBS and former QSPEs that are structured 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 or any of its subsidiaries or affiliates liable for any principal or interest shortfalls should any arise. The Company’s exposure was limited to that of its remaining investment in the former QSPEs of $170 million and $201 million at estimated fair value at September 30, 2011 and December 31, 2010, respectively. The long-term debt referred to below bears interest at primarily fixed rates ranging from 2.25% to 5.57%, payable primarily on a monthly basis and is expected to be repaid over the next six years. Interest expense related to these obligations, included in other expenses, was $97 million and $281 million for the three months and nine months ended September 30, 2011, respectively, and $103 million and $312 million for the three months and nine months ended September 30, 2010, respectively. The Company sold certain of these CMBS investments in the third quarter of 2011, resulting in the deconsolidation of such entities and their related mortgage loans held-for-investment and long-term debt. The assets and liabilities of these CSEs, at estimated fair value, were as follows at:

	September 30, 2011		December 31, 2010
	(In millions)
Assets:
Mortgage loans held-for-investment (commercial mortgage loans)	$	3,227	$	6,840
Trading and other securities		140		201
Accrued investment income		17		34
Cash and cash equivalents		13		39
Total assets	$	3,397	$	7,114
Liabilities:
Long-term debt	$	3,157	$	6,820
Other liabilities		47		72
Total liabilities	$	3,204	$	6,892

(2) See Note 12 of the Notes to the Consolidated Financial Statements included in the 2010 Annual Report for a description of the MetLife Reinsurance Company of South Carolina (“MRSC”) collateral financing arrangement. These assets consist of the following, at estimated fair value, at:

	September 30, 2011		December 31, 2010
	(In millions)
Fixed maturity securities available-for-sale:
ABS	$	1,391	$	1,333
U.S. corporate securities		787		893
RMBS		522		547
CMBS		399		383
Foreign corporate securities		126		139
State and political subdivision securities		40		30
Foreign government securities		—		5
Mortgage loans		50		—
Cash and cash equivalents		2		3
Total	$	3,317	$	3,333

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity [Line Items]

Variable Interest Entities

	September 30, 2011				December 31, 2010
			Maximum				Maximum
	Carrying		Exposure		Carrying		Exposure
	Amount		to Loss (1)		Amount		to Loss (1)
	(In millions)
Fixed maturity securities available-for-sale:
RMBS (2)	$	41,893	$	41,893	$	44,733	$	44,733
CMBS (2)		19,585		19,585		20,675		20,675
ABS (2)		14,418		14,418		14,287		14,287
U.S. corporate securities		2,978		2,978		2,435		2,435
Foreign corporate securities		2,252		2,252		2,950		2,950
Other limited partnership interests		4,419		6,166		4,383		6,479
Trading and other securities		737		737		789		789
Other invested assets		624		1,206		576		773
Mortgage loans		513		513		350		350
Real estate joint ventures		65		83		40		108
Total	$	87,484	$	89,831	$	91,218	$	93,579

(1)

The maximum exposure to loss relating to the fixed maturity and trading and other securities is equal to the carrying amounts or carrying amounts of retained interests. The maximum exposure to loss relating to the other limited partnership interests and real estate joint ventures is equal to the carrying amounts plus any unfunded commitments of the Company. Such a maximum loss would be expected to occur only upon bankruptcy of the issuer or investee. The maximum exposure to loss relating to mortgage loans 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 a creditworthy third party. 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 $281 million and $231 million at September 30, 2011 and December 31, 2010, respectively.

(2)

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