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Deferred Policy Acquisition Costs, Value of Business Acquired, Unearned Revenue and Other Intangibles
 12 Months Ended
Dec. 31, 2024
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]  
Intangible Assets and Liabilities and Unearned Revenue excluding Goodwill [Text Block]
8. Deferred Policy Acquisition Costs, Value of Business Acquired, Unearned Revenue and Other Intangibles
DAC and VOBA
Information regarding total DAC and VOBA by segment, as well as Corporate & Other, was as follows at:
Group
Benefits
RIS
Asia
(1)
Latin
America
(2)
EMEA
(2)
MetLife
Holdings
(3)
Corporate
& Other
Total
(In millions)
DAC:
Balance at January 1, 2022
$272 $191 $10,058 $1,361 $1,472 $4,029 $32 $17,415 
Capitalizations
18 113 1,530 494 422 29 8 2,614 
Amortization
(26)(37)(644)(361)(311)(267)(9)(1,655)
Effect of foreign currency translation and other, net
— — (674)48 (103)— (1)(730)
Balance at December 31, 2022
264 267 10,270 1,542 1,480 3,791 30 17,644 
Capitalizations20 176 1,583 651 457 22 8 2,917 
Amortization(26)(46)(705)(418)(332)(255)(9)(1,791)
Effect of foreign currency translation and other, net (4)
— — (284)175 13 (287)1 (382)
Balance at December 31, 2023
258 397 10,864 1,950 1,618 3,271 30 18,388 
Capitalizations18 218 1,380 704 486 17 10 2,833 
Amortization(26)(63)(782)(461)(345)(225)(10)(1,912)
Effect of foreign currency translation and other, net
— — (677)(357)(95)— (2)(1,131)
Balance at December, 31, 2024
$250 $552 $10,785 $1,836 $1,664 $3,063 $28 $18,178 
VOBA:
Balance at January 1, 2022
$— $22 $1,593 $591 $154 $31 $— $2,391 
Amortization— (3)(101)(49)(20)(3)— (176)
Effect of foreign currency translation and other, net
— — (202)3 (7)— — (206)
Balance at December 31, 2022
— 19 1,290 545 127 28 — 2,009 
Amortization— (3)(89)(50)(16)(3)— (161)
Effect of foreign currency translation and other, net (4)
— — (82)2 2 (7)— (85)
Balance at December 31, 2023
— 16 1,119 497 113 18 — 1,763 
Amortization— (3)(71)(42)(14)(4)— (134)
Effect of foreign currency translation and other, net
— — (113)(62)(5)— — (180)
Balance at December 31, 2024
$— $13 $935 $393 $94 $14 $— $1,449 
Total DAC and VOBA:
Balance at December 31, 2022
$19,653 
Balance at December 31, 2023
$20,151 
Balance at December 31, 2024
$19,627 
__________________
(1)Includes DAC balances primarily related to accident & health, universal and variable universal life, variable life and fixed annuity products and VOBA balances primarily related to accident & health products.
(2)Includes DAC balances primarily related to universal life, variable universal life, ordinary life and accident & health productsIncludes DAC balances primarily related to whole life, variable annuities, term life, universal life, variable universal life and long-term care products.
(4)MetLife Holdings segment includes activity for total DAC and total VOBA ceded at the date of inception related to a reinsurance agreement. See Note 9 for further information on the transaction.
Significant Methodologies and Assumptions
The Company amortizes DAC and VOBA related to long-duration contracts over the estimated lives of the contracts in proportion to benefits in-force for RIS annuities and policy count for all other products. The amortization amount is calculated using the same cohorts as the corresponding liabilities on a quarterly basis, using an amortization rate that includes current period reporting experience and end of period persistency and longevity assumptions that are consistent with those used to measure the corresponding liabilities.
The Company amortizes DAC for credit insurance and other short-duration contracts, which is primarily comprised of commissions and certain underwriting expenses, in proportion to actual and future earned premium over the applicable contract term.
Information regarding other intangibles was as follows:
Years Ended December 31,
202420232022
(In millions)
VODA and VOCRA:
Balance at January 1,
$794 $876 $972 
Amortization
(85)(88)(92)
Effect of foreign currency translation and other1 6 (4)
Balance at December 31,
$710 $794 $876 
Accumulated amortization
$840 $755 $667 
Negative VOBA:
Balance at January 1,$427 $473 $557 
Amortization
(25)(26)(29)
Effect of foreign currency translation and other
(33)(20)(55)
Balance at December 31,
$369 $427 $473 
Accumulated amortization
$3,423 $3,398 $3,372 
The estimated future amortization expense (credit) to be reported in other expenses for the next five years is as follows:
VOBA
VODA and VOCRA
Negative VOBA
(In millions)
2025$116 $81 $(24)
2026$109 $80 $(23)
2027$101 $78 $(21)
2028$93 $75 $(20)
2029$87 $73 $(19)
Unearned Revenue
Information regarding the Company’s UREV primarily related to universal life and variable universal life products by segment included in other policy-related balances was as follows:
RIS
AsiaLatin
 America		EMEA
MetLife
Holdings
Total
(In millions)
Balance at January 1, 2022
$38 $2,033 $795 $521 $238 $3,625 
Deferrals5 546 134 111 60 856 
Amortization(7)(144)(116)(59)(17)(343)
Effect of foreign currency translation and other - net— (53)35 (14)— (32)
Balance at December 31, 2022
36 2,382 848 559 281 4,106 
Deferrals2 667 147 95 48 959 
Amortization(7)(181)(116)(63)(18)(385)
Effect of foreign currency translation and other - net (1)
— (18)110 17 (252)(143)
Balance at December 31, 2023
31 2,850 989 608 59 4,537 
Deferrals2 534 146 98 15 795 
Amortization(6)(228)(115)(68)(5)(422)
Effect of foreign currency translation and other - net
— (80)(179)(16)— (275)
Balance at December 31, 2024
$27 $3,076 $841 $622 $69 $4,635 
__________________
(1)MetLife Holdings segment includes activity for total UREV ceded at the date of inception related to a reinsurance agreement. See Note 9 for further information on the transaction.
Significant Methodologies and Assumptions
UREV is amortized similarly to DAC and VOBA, see “— DAC and VOBA.”