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Market Risk Benefits (Tables)
 6 Months Ended
Jun. 30, 2025
Insurance [Abstract]  
Market Risk Benefit
The Company’s MRB assets and MRB liabilities on the interim condensed consolidated balance sheets were as follows at:
June 30, 2025December 31, 2024
AssetLiabilityNetAssetLiabilityNet
(In millions)
Asia - Retirement Assurance$—$191$191$—$178$178
MetLife Holdings - Annuities210 2,424 2,214231 2,300 2,069
Other142 94 (48)141 103 (38)
Total$352$2,709$2,357$372$2,581$2,209
Market Risk Benefit, Activity Information regarding this liability was as follows:
Six Months
Ended
June 30,
20252024
(In millions)
Balance, beginning of period
$178 $203 
Balance, beginning of period, before effect of cumulative changes in the instrument-specific credit risk$179 $205 
Attributed fees collected2 2 
Benefit payments(7)(6)
Effect of changes in interest rates2 4 
Actual policyholder behavior different from expected behavior— (1)
Effect of foreign currency translation and other, net16 (26)
Balance, end of period, before the cumulative effect of changes in the instrument-specific credit risk192 178 
Cumulative effect of changes in the instrument-specific credit risk(1)(1)
Balance, end of period$191 $177 
At period end:
Net amount at risk, excluding offsets from hedging:
At annuitization or exercise of other living benefits$129 $111 
Weighted-average attained age of contractholders:
At annuitization or exercise of other living benefits58 years58 years
Information regarding MetLife Holdings annuity products (including assumed reinsurance) was as follows:
Six Months
Ended
June 30,
20252024
(In millions)
Balance, beginning of period$2,069$2,722
Balance, beginning of period, before effect of cumulative changes in the instrument-specific credit risk$1,992$2,772
Attributed fees collected
167179
Benefit payments
(46)(45)
Effect of changes in interest rates
23(556)
Effect of changes in capital markets
(195)(372)
Effect of changes in equity index volatility
(4)26
Actual policyholder behavior different from expected behavior
141132
Effect of foreign currency translation and other, net
755
Effect of changes in risk margin
(2)(62)
Balance, end of period, before the cumulative effect of changes in the instrument-specific credit risk
2,1512,079
Cumulative effect of changes in the instrument-specific credit risk
6176
Effect of foreign currency translation on the cumulative instrument-specific credit risk
2(2)
Balance, end of period
$2,214$2,153
At period end:
Net amount at risk, excluding offsets from hedging (1):
In the event of death
$2,452 $2,544 
At annuitization or exercise of other living benefits
$724 $671 
Weighted-average attained age of contractholders:
In the event of death
72 years71 years
At annuitization or exercise of other living benefits
72 years70 years
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(1)Includes amounts for certain variable annuity guarantees recorded as MRBs on contracts also recorded as PABs which are disclosed in “MetLife Holdings – Annuities” in Note 5.
Information regarding these product liabilities (assets) was as follows:
Six Months
Ended
June 30,
20252024
(In millions)
Balance, beginning of period
$(38)$(32)
Balance, beginning of period, before effect of cumulative changes in the instrument-specific credit risk$(53)$(50)
Attributed fees collected23 25 
Benefit payments(2)(3)
Effect of changes in interest rates(17)(46)
Effect of changes in capital markets(14)(15)
Effect of changes in equity index volatility— (1)
Actual policyholder behavior different from expected behavior6 4 
Effect of foreign currency translation and other, net (9)(2)
Effect of changes in risk margin(1)(1)
Balance, end of period, before the cumulative effect of changes in the instrument-specific credit risk(67)(89)
Cumulative effect of changes in the instrument-specific credit risk17 21 
Effect of foreign currency translation on the cumulative instrument-specific credit risk2 — 
Balance, end of period(48)(68)
Less: Reinsurance recoverable15 11 
Balance, end of period, net of reinsurance$(63)$(79)