Insurance (Tables)

12 Months Ended

Dec. 31, 2019

Insurance [Abstract]

Insurance Liabilities

Insurance liabilities are comprised of future policy benefits, policyholder account balances and other policy-related balances. Information regarding insurance liabilities by segment, as well as Corporate & Other, was as follows at:

	December 31,
	2019		2018
	(In millions)
U.S.	$	150,327	$	141,641
Asia	118,027		108,456
Latin America	15,911		16,131
EMEA	16,951		17,069
MetLife Holdings	101,945		102,371
Corporate & Other	1,546		1,334
Total	$	404,707	$	387,002

Liabilities for Guarantees

Information regarding the liabilities for guarantees (excluding base policy liabilities and embedded derivatives) relating to annuity and universal and variable life contracts was as follows:

	Annuity Contracts						Universal and Variable Life Contracts
	GMDBs and GMWBs			GMIBs			Secondary Guarantees			Paid-Up Guarantees		Total
	(In millions)
Direct and Assumed:
Balance at January 1, 2017	$	451		$	601		$	2,989		$	331	$	4,372
Incurred guaranteed benefits (1)	91			121			233			16		461
Paid guaranteed benefits	(14		)	(2		)	(34		)	—		(50		)
Balance at December 31, 2017	528			720			3,188			347		4,783
Incurred guaranteed benefits (1)	(78		)	178			291			12		403
Paid guaranteed benefits	(22		)	—			(37		)	—		(59		)
Balance at December 31, 2018	428			898			3,442			359		5,127
Incurred guaranteed benefits (1)	62			(3		)	358			68		485
Paid guaranteed benefits	(25		)	(1		)	(38		)	—		(64		)
Balance at December 31, 2019	$	465		$	894		$	3,762		$	427	$	5,548
Ceded:
Balance at January 1, 2017	$	24		$	5		$	191		$	231	$	451
Incurred guaranteed benefits	4			1			50			11		66
Paid guaranteed benefits	6			—			—			—		6
Balance at December 31, 2017	34			6			241			242		523
Incurred guaranteed benefits	(38		)	4			28			9		3
Paid guaranteed benefits	4			—			—			—		4
Balance at December 31, 2018	—			10			269			251		530
Incurred guaranteed benefits	(4		)	—			80			30		106
Paid guaranteed benefits	4			—			—			—		4
Balance at December 31, 2019	$	—		$	10		$	349		$	281	$	640
Net:
Balance at January 1, 2017	$	427		$	596		$	2,798		$	100	$	3,921
Incurred guaranteed benefits	87			120			183			5		395
Paid guaranteed benefits	(20		)	(2		)	(34		)	—		(56		)
Balance at December 31, 2017	494			714			2,947			105		4,260
Incurred guaranteed benefits	(40		)	174			263			3		400
Paid guaranteed benefits	(26		)	—			(37		)	—		(63		)
Balance at December 31, 2018	428			888			3,173			108		4,597
Incurred guaranteed benefits	66			(3		)	278			38		379
Paid guaranteed benefits	(29		)	(1		)	(38		)	—		(68		)
Balance at December 31, 2019	$	465		$	884		$	3,413		$	146	$	4,908

__________________

(1)

Secondary guarantees include the effects of foreign currency translation of $23 million, $62 million and $78 million at December 31, 2019, 2018 and 2017, respectively.

Fund Groupings

Account balances of contracts with guarantees were invested in separate account asset classes as follows at:

	December 31,
	2019		2018 (1)
	(In millions)
Fund Groupings:
Equity	$	25,097	$	22,450
Balanced	19,014		18,332
Bond	5,565		5,537
Money Market	117		134
Total	$	49,793	$	46,453

__________________

(1)

In connection with the Company’s guarantee exposure amount revisions discussed above, the account balances of contracts with guarantees invested in separate account asset classes at December 31, 2018 have been revised to conform to the 2019 presentation. The total increase to the fund grouping amounts previously reported is $4.2 billion, which primarily includes asset class changes of $2.9 billion for Equity and $1.3 billion for Balanced.

Guarantees related to Annuity, Universal and Variable Life Contracts

Information regarding the Company’s guarantee exposure, which includes direct and assumed business, but excludes offsets from hedging or ceded reinsurance, if any, was as follows at:

	December 31,
	2019							2018
	In the Event of Death			At Annuitization				In the Event of Death (8)			At Annuitization (8)
	(Dollars in millions)
Annuity Contracts:
Variable Annuity Guarantees:
Total account value (1), (2), (3)	$	64,506		$	24,036			$	63,381		$	23,174
Separate account value (1)	$	41,305		$	22,291			$	38,888		$	21,385
Net amount at risk (2)	$	1,572	(4)	$	584	(5)		$	3,197	(4)	$	511	(5)
Average attained age of contractholders	67 years			65 years				66 years			64 years
Other Annuity Guarantees:
Total account value (1), (3)	N/A			$	5,671			N/A			$	5,787
Net amount at risk	N/A			$	408	(6	)	N/A			$	549	(6)
Average attained age of contractholders	N/A			51 years				N/A			50 years

	December 31,
	2019				2018
	Secondary Guarantees		Paid-Up Guarantees		Secondary Guarantees (8)		Paid-Up Guarantees
	(Dollars in millions)
Universal and Variable Life Contracts:
Total account value (1), (3)	$	11,937	$	2,940	$	11,205	$	3,070
Net amount at risk (7)	$	86,221	$	14,500	$	93,028	$	15,539
Average attained age of policyholders	53 years		65 years		52 years		64 years

__________________

(1) The Company’s annuity and life contracts with guarantees may offer more than one type of guarantee in each contract. Therefore, the amounts listed above may not be mutually exclusive.

(2) Includes amounts, which are not reported on the consolidated balance sheets, from assumed variable annuity guarantees from the Company’s former operating joint venture in Japan.

(3) Includes the contractholder’s investments in the general account and separate account, if applicable.

(4) Defined as the death benefit less the total account value, as of the balance sheet date. It represents the amount of the claim that the Company would incur if death claims were filed on all contracts on the balance sheet date and includes any additional contractual claims associated with riders purchased to assist with covering income taxes payable upon death.

(5) Defined as the amount (if any) that would be required to be added to the total account value to purchase a lifetime income stream, based on current annuity rates, equal to the minimum amount provided under the guaranteed benefit. This amount represents the Company’s potential economic exposure to such guarantees in the event all contractholders were to annuitize on the balance sheet date, even though the contracts contain terms that allow annuitization of the guaranteed amount only after the 10th anniversary of the contract, which not all contractholders have achieved.

(6) Defined as either the excess of the upper tier, adjusted for a profit margin, less the lower tier, as of the balance sheet date or the amount (if any) that would be required to be added to the total account value to purchase a lifetime income stream, based on current annuity rates, equal to the minimum amount provided under the guaranteed benefit. These amounts represent the Company’s potential economic exposure to such guarantees in the event all contractholders were to annuitize on the balance sheet date.

(7) Defined as the guarantee amount less the account value, as of the balance sheet date. It represents the amount of the claim that the Company would incur if death claims were filed on all contracts on the balance sheet date.

(8) Certain of the Company’s guarantee exposure amounts at December 31, 2018 have been revised to conform to the 2019 presentation, which includes certain contracts with guarantees that were previously excluded. They include the following increases from the amounts previously reported: (i) variable annuity guarantees in the event of death: $7.1 billion from $56.2 billion for total account value, $1.5 billion from $37.3 billion for separate account value and $429 million from $2.8 billion for net amount at risk; (ii) variable annuity guarantees at annuitization: $1.5 billion from $21.6 billion for total account value, $1.5 billion from $19.8 billion for separate account value and $28 million from $483 million for net amount at risk; (iii) other annuity guarantees: $4.5 billion from $1.3 billion for total account value and $60 million from $489 million for net amount at risk; and (iv) universal and variable life contract secondary guarantees: $2.3 billion from $8.9 billion for total account value and $28.9 billion from $64.2 billion for net amount at risk. 

Additionally, the average attained age of contractholders at annuitization for variable annuity guarantees decreased by one year from 65 years and the average attained age of policyholders with universal and variable life contract secondary guarantees decreased by five years from 57 years.

Schedule of Federal Home Loan Bank, common stock holdings, by branch of FHLB Bank

Certain of the Company’s subsidiaries are members of regional FHLBs. Holdings of common stock of regional FHLBs, included in other invested assets, were as follows at:

	December 31,
	2019		2018
	(In millions)
FHLB of New York	$	737	$	724
FHLB of Des Moines	$	4	$	17
FHLB of Pittsburgh	$	35	$	19

Schedule of liability recorded and collateral pledged for funding agreements

Certain U.S. subsidiaries have also entered into funding agreements with regional FHLBs and a subsidiary of the Federal Agricultural Mortgage Corporation, a federally chartered instrumentality of the U.S. (“Farmer Mac”). The liability for such funding agreements is included in policyholder account balances. Information related to such funding agreements was as follows at:

	Liability				Collateral
	December 31,
	2019		2018		2019			2018
	(In millions)
FHLB of New York (1)	$	14,445	$	14,245	$	16,570	(2)	$	16,557	(2)
Farmer Mac (3)	$	2,550	$	2,550	$	2,670		$	2,639
FHLB of Des Moines (1)	$	100	$	425	$	141	(2)	$	709	(2)
FHLB of Pittsburgh (1)	$	775	$	450	$	895	(2)	$	590	(2)

__________________

(1) Represents funding agreements issued to the applicable regional FHLB in exchange for cash and for which such regional FHLB has been granted a lien on certain assets, some of which are in the custody of such regional FHLB, including residential mortgage-backed securities (“RMBS”), to collateralize obligations under such funding agreements. The applicable subsidiary of the Company is permitted to withdraw any portion of the collateral in the custody of such regional FHLB as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level. Upon any event of default by such subsidiary, the applicable regional FHLB’s recovery on the collateral is limited to the amount of such subsidiary’s liability to such regional FHLB.

(2) Advances are collateralized by mortgage-backed securities. The amount of collateral presented is at estimated fair value.

(3)

Represents funding agreements issued to a subsidiary of Farmer Mac. The obligations under these funding agreements are secured by a pledge of certain eligible agricultural mortgage loans and may, under certain circumstances, be secured by other qualified collateral. The amount of collateral presented is at carrying value.

Invested assets on deposit, held in trust and pledged as collateral are presented below at estimated fair value for all asset classes, except mortgage loans, which are presented at carrying value at:

	December 31,
	2019		2018
	(In millions)
Invested assets on deposit (regulatory deposits)	$	2,034	$	1,788
Invested assets held in trust (collateral financing arrangement and reinsurance agreements)	2,991		2,971
Invested assets pledged as collateral (1)	24,493		24,168
Total invested assets on deposit, held in trust and pledged as collateral	$	29,518	$	28,927

__________________

(1) The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements (see Note 4), derivative transactions (see Note 9), secured debt (see Note 13), and a collateral financing arrangement (see Note 14).

Short-duration Insurance Contracts, Claims Development

Group Life - Term

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																			At December 31, 2019
	For the Years Ended December 31,																			Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2011		2012		2013		2014		2015		2016		2017		2018		2019
	(Dollars in millions)
2011	$	6,318	$	6,290	$	6,293	$	6,269	$	6,287	$	6,295	$	6,294	$	6,295	$	6,297		$	1	207,857
2012			6,503		6,579		6,569		6,546		6,568		6,569		6,569		6,572			2		209,500
2013					6,637		6,713		6,719		6,720		6,730		6,720		6,723			2		212,019
2014							6,986		6,919		6,913		6,910		6,914		6,919			4		214,563
2015									7,040		7,015		7,014		7,021		7,024			5		216,429
2016											7,125		7,085		7,095		7,104			8		215,108
2017													7,432		7,418		7,425			15		253,613
2018															7,757		7,655			37		235,820
2019																	7,935			848		185,891
Total																	63,654
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																	(61,612		)
All outstanding liabilities for incurral years prior to 2011, net of reinsurance																	15
Total unpaid claims and claim adjustment expenses, net of reinsurance																	$	2,057

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2011		2012		2013		2014		2015		2016		2017		2018		2019
	(In millions)
2011	$	4,982	$	6,194	$	6,239	$	6,256	$	6,281	$	6,290	$	6,292	$	6,295	$	6,296
2012			5,132		6,472		6,518		6,532		6,558		6,565		6,566		6,569
2013					5,216		6,614		6,664		6,678		6,711		6,715		6,720
2014							5,428		6,809		6,858		6,869		6,902		6,912
2015									5,524		6,913		6,958		6,974		7,008
2016											5,582		6,980		7,034		7,053
2017													5,761		7,292		7,355
2018															6,008		7,521
2019																	6,178
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																	$	61,612

Group Long-Term Disability

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																			At December 31, 2019
	For the Years Ended December 31,																			Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2011		2012		2013		2014		2015		2016		2017		2018		2019
	(Dollars in millions)
2011	$	955	$	916	$	894	$	914	$	924	$	923	$	918	$	917	$	914		$	—	21,644
2012			966		979		980		1,014		1,034		1,037		1,021		1,015			—		20,085
2013					1,008		1,027		1,032		1,049		1,070		1,069		1,044			—		21,137
2014							1,076		1,077		1,079		1,101		1,109		1,098			—		22,851
2015									1,082		1,105		1,093		1,100		1,087			—		21,203
2016											1,131		1,139		1,159		1,162			—		17,958
2017													1,244		1,202		1,203			12		16,266
2018															1,240		1,175			35		14,869
2019																	1,277			657		8,350
Total																	9,975
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																	(4,713		)
All outstanding liabilities for incurral years prior to 2011, net of reinsurance																	1,829
Total unpaid claims and claim adjustment expenses, net of reinsurance																	$	7,091

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2011		2012		2013		2014		2015		2016		2017		2018		2019
	(In millions)
2011	$	44	$	217	$	337	$	411	$	478	$	537	$	588	$	635	$	670
2012			43		229		365		453		524		591		648		694
2013					43		234		382		475		551		622		676
2014							51		266		428		526		609		677
2015									50		264		427		524		601
2016											49		267		433		548
2017													56		290		476
2018															54		314
2019																	57
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																	$	4,713

Property & Casualty - Auto Liability

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																					At December 31, 2019
	For the Years Ended December 31,																					Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017		2018		2019
	(Dollars in millions)
2010	$	863	$	873	$	853	$	847	$	833	$	826	$	825	$	822	$	823	$	822		$	—	204,497
2011			863		876		869		855		846		843		843		842		841			1		204,972
2012					882		881		869		851		846		847		846		846			1		199,357
2013							911		900		882		878		876		876		874			1		204,372
2014									897		910		913		910		911		912			2		207,630
2015											975		984		979		980		983			5		212,806
2016													1,012		1,002		997		999			11		211,041
2017															957		960		987			33		191,978
2018																	938		964			78		180,220
2019																			970			203		163,655
Total																			9,198
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			(8,062		)
All outstanding liabilities for incurral years prior to 2010, net of reinsurance																			26
Total unpaid claims and claim adjustment expenses, net of reinsurance																			$	1,162

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017		2018		2019
	(In millions)
2010	$	319	$	572	$	695	$	762	$	796	$	810	$	816	$	818	$	820	$	821
2011			324		590		711		777		810		825		831		835		837
2012					333		600		715		783		815		831		840		843
2013							346		618		743		809		843		859		869
2014									352		648		777		844		884		900
2015											384		691		822		903		956
2016													396		702		842		932
2017															379		686		838
2018																	371		687
2019																			379
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			$	8,062

Property & Casualty - Home

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																					At December 31, 2019
	For the Years Ended December 31,																					Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017		2018		2019
	(Dollars in millions)
2010	$	573	$	589	$	587	$	584	$	582	$	581	$	580	$	579	$	579	$	579		$	—	115,522
2011			891		868		843		840		835		835		834		833		833			—		166,467
2012					714		713		703		698		696		694		693		692			—		146,559
2013							654		652		635		635		634		632		632			1		107,562
2014									707		702		704		705		701		699			1		113,679
2015											759		753		752		746		742			1		107,259
2016													740		743		743		736			3		107,271
2017															747		763		761			8		115,610
2018																	671		658			9		98,754
2019																			649			67		80,133
Total																			6,981
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			(6,753		)
All outstanding liabilities for incurral years prior to 2010, net of reinsurance																			1
Total unpaid claims and claim adjustment expenses, net of reinsurance																			$	229

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017		2018		2019
	(In millions)
2010	$	436	$	546	$	562	$	571	$	574	$	577	$	578	$	578	$	579	$	579
2011			690		804		819		825		827		830		832		833		833
2012					559		668		681		687		689		690		690		691
2013							505		604		618		626		628		629		630
2014									574		670		685		692		695		696
2015											603		717		731		736		739
2016													593		704		720		727
2017															610		727		742
2018																	529		629
2019																			487
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			$	6,753

Group Disability & Group Life

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																					At December 31, 2019
	For the Years Ended December 31,																					Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017		2018		2019
	(Dollars in millions)
2010	$	73	$	70	$	75	$	96	$	96	$	93	$	121	$	130	$	122	$	118		$	2	2,812
2011			58		61		79		80		84		112		119		116		109			5		3,021
2012					88		94		92		106		107		110		120		114			9		4,536
2013							133		135		156		151		150		159		159			15		5,210
2014									267		250		230		230		241		237			31		6,167
2015											252		240		243		237		247			37		5,970
2016													210		214		202		215			42		3,895
2017															273		253		261			56		4,056
2018																	332		304			96		3,730
2019																			359			185		2,390
Total																			2,123
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			(1,506		)
All outstanding liabilities for incurral years prior to 2010, net of reinsurance																			10
Total unpaid claims and claim adjustment expenses, net of reinsurance																			$	627

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017		2018		2019
	(In millions)
2010	$	18	$	36	$	48	$	58	$	71	$	80	$	102	$	108	$	113	$	116
2011			11		36		49		60		73		92		98		100		104
2012					27		58		77		89		96		101		102		105
2013							39		89		109		123		134		147		144
2014									62		130		161		182		204		205
2015											73		139		173		187		212
2016													59		122		138		173
2017															79		144		190
2018																	87		160
2019																			97
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			$	1,506

Protection Life

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																					At December 31, 2019
	For the Years Ended December 31,																					Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017		2018		2019
	(Dollars in millions)
2010	$	259	$	333	$	340	$	341	$	341	$	341	$	341	$	342	$	344	$	344		$	—	34,663
2011			144		222		229		230		230		231		227		230		230			—		28,955
2012					153		208		213		214		215		212		215		216			—		29,014
2013							168		236		243		244		243		246		247			—		33,259
2014									247		376		387		354		358		359			—		41,648
2015											324		463		432		438		438			—		47,505
2016													347		447		459		466			1		41,590
2017															358		350		349			5		33,396
2018																	334		324			16		31,302
2019																			364			124		24,180
Total																			3,337
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			(3,030		)
All outstanding liabilities for incurral years prior to 2010, net of reinsurance																			10
Total unpaid claims and claim adjustment expenses, net of reinsurance																			$	317

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017		2018		2019
	(In millions)
2010	$	238	$	310	$	317	$	318	$	318	$	318	$	318	$	320	$	321	$	324
2011			141		218		224		225		225		225		226		227		228
2012					151		205		209		211		211		210		211		213
2013							165		229		234		234		234		236		238
2014									221		330		336		339		343		346
2015											264		372		395		403		410
2016													242		432		452		460
2017															210		318		335
2018																	169		287
2019																			189
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			$	3,030

Protection Health

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																					At December 31, 2019
	For the Years Ended December 31,																					Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017		2018		2019
	(Dollars in millions)
2010	$	187	$	208	$	210	$	210	$	211	$	211	$	211	$	215	$	215	$	215		$	—	96,784
2011			224		249		251		252		252		252		249		249		249			—		106,631
2012					216		243		245		246		246		244		245		245			—		100,400
2013							235		265		266		267		264		264		264			—		104,234
2014									243		271		273		271		270		270			—		97,755
2015											209		237		239		238		238			—		87,108
2016													274		316		313		313			1		105,877
2017															397		370		370			3		120,142
2018																	425		447			6		140,671
2019																			142			19		87,541
Total																			2,753
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			(2,689		)
All outstanding liabilities for incurral years prior to 2010, net of reinsurance																			9
Total unpaid claims and claim adjustment expenses, net of reinsurance																			$	73

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017		2018		2019
	(In millions)
2010	$	187	$	208	$	210	$	210	$	211	$	211	$	211	$	214	$	214	$	215
2011			224		249		251		252		252		252		249		249		249
2012					216		243		245		246		246		245		245		245
2013							235		265		266		267		264		264		264
2014									241		269		271		267		267		267
2015											209		237		236		237		237
2016													258		308		311		312
2017															324		365		367
2018																	363		414
2019																			119
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			$	2,689

Short-duration Insurance Contracts, Schedule of Historical Claims Duration

The following is supplementary information about average historical claims duration at December 31, 2019:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1	2	3	4	5	6	7	8	9
Group Life - Term	78.3%	20.0%	0.7%	0.2%	0.4%	0.1%	—%	—%	—%

The following is supplementary information about average historical claims duration at December 31, 2019:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1	2	3	4	5	6	7	8	9
Group Long-Term Disability	4.5%	19.4%	14.3%	8.9%	7.2%	6.5%	5.5%	4.8%	4.0%

The following is supplementary information about average historical claims duration at December 31, 2019:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1	2	3	4	5	6	7	8	9	10
Auto Liability	38.6%	31.5%	14.3%	8.0%	4.2%	1.8%	0.9%	0.3%	0.3%	0.1%

The following is supplementary information about average historical claims duration at December 31, 2019:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1	2	3	4	5	6	7	8	9	10
Home	79.8%	15.4%	2.1%	1.0%	0.3%	0.3%	0.2%	0.1%	0.1%	—%

The following is supplementary information about average historical claims duration at December 31, 2019:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1	2	3	4	5	6	7	8	9	10
Group Disability & Group Life	24.4%	25.3%	13.0%	9.8%	9.1%	7.5%	6.0%	3.2%	3.7%	3.9%

The following is supplementary information about average historical claims duration at December 31, 2019:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1	2	3	4	5	6	7	8	9	10
Protection Life	60.5%	29.8%	3.1%	0.9%	0.5%	0.3%	0.4%	0.6%	0.5%	1.0%

The following is supplementary information about average historical claims duration at December 31, 2019:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1	2	3	4	5	6	7	8	9	10
Protection Health	86.6%	11.5%	0.6%	—%	(0.1%)	—%	(0.3%)	0.5%	0.1%	—%

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability

The reconciliation of the net incurred and paid claims development tables to the liability for unpaid claims and claims adjustment expenses on the consolidated balance sheet was as follows at:

	December 31, 2019
	(In millions)
Short-Duration:
Unpaid claims and allocated claims adjustment expenses, net of reinsurance:
U.S.:
Group Life - Term	$	2,057
Group Long-Term Disability	7,091
Property & Casualty - Auto	1,162
Property & Casualty - Home	229
Total			$	10,539
Asia - Group Disability & Group Life			627
Latin America:
Protection Life	317
Protection Health	73
Total			390
Other insurance lines - all segments combined			2,031
Total unpaid claims and allocated claims adjustment expenses, net of reinsurance			13,587
Reinsurance recoverables on unpaid claims:
U.S.:
Group Life - Term	13
Group Long-Term Disability	133
Property & Casualty - Auto	68
Property & Casualty - Home	1
Total			215
Asia - Group Disability & Group Life			238
Latin America:
Protection Life	7
Protection Health	18
Total			25
Other insurance lines - all segments combined			333
Total reinsurance recoverable on unpaid claims			811
Total unpaid claims and allocated claims adjustment expense			14,398
Unallocated claims adjustment expenses			98
Discounting			(1,285		)
Liability for unpaid claims and claim adjustment liabilities - short-duration			13,211
Liability for unpaid claims and claim adjustment liabilities - all long-duration lines			6,005
Total liability for unpaid claims and claim adjustment expense (included in future policy benefits and other policy-related balances)			$	19,216

Liabilities for Unpaid Claims and Claim Expenses

Information regarding the liabilities for unpaid claims and claim adjustment expenses was as follows:

	Years Ended December 31,
	2019			2018			2017
	(In millions)
Balance at January 1,	$	17,788		$	17,094		$	16,157
Less: Reinsurance recoverables	2,332			2,198			1,968
Net balance at January 1,	15,456			14,896			14,189
Incurred related to:
Current year	27,093			24,571			24,370
Prior years (1)	313			454			133
Total incurred	27,406			25,025			24,503
Paid related to:
Current year	(20,141		)	(18,757		)	(18,525		)
Prior years	(5,882		)	(5,708		)	(5,271		)
Total paid	(26,023		)	(24,465		)	(23,796		)
Net balance at December 31,	16,839			15,456			14,896
Add: Reinsurance recoverables	2,377			2,332			2,198
Balance at December 31,	$	19,216		$	17,788		$	17,094

__________________

(1)

For the years ended December 31, 2019, 2018 and 2017, claims and claim adjustment expenses associated with prior years increased due to events incurred in prior years but reported in the current year.